Latest / Simply Bitcoin / El Salvador Launches $360M Bitcoin Treasury | EP 989

Transcript

El Salvador Launches $360M Bitcoin Treasury | EP 989 · Simply Bitcoin

• 0:02
  It's all. Going to zero against Bitcoin.
• 0:06
  It's going on forever, Warren. You're against Bitcoin.
• 0:16
  You're against freedom yo. Welcome to Simply Bitcoin Live
• 0:24
  your number one source for the peaceful Bitcoin revolution
• 0:26
  cover we can use. Culture of Manic Warfare will be
• 0:27
  your guide through the separation of money and state.
• 0:30
  Ladies and gentlemen, welcome to Simply Bitcoin.
• 0:31
  Sit back, relax, enjoy the ride. If you're watching us on
• 0:34
  YouTube, Rumble or X, Hey guys, welcome to Simply Bitcoin.
• 0:37
  Anyways, lots to talk about. Today we have the author of
• 0:41
  Sapiens, Yuval Harari, who's part of the World Economic
• 0:45
  Forum, the party of Davos class, basically trying to FUD Bitcoin,
• 0:51
  Basically making the case that he doesn't like Bitcoin because
• 0:54
  it's a currency of mistrust, in that you would like to see the
• 0:58
  world continue to use currencies of trust and that the last
• 1:02
  century somehow proved that that was a good idea.
• 1:06
  Like talking about gaslighting, I think it's the exact opposite
• 1:10
  that is true. But it also tells me that we're
• 1:12
  winning because then I don't think that they would feel as
• 1:15
  desperate as that then to say that, right?
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  So I'm gonna play you guys a clip of that.
• 1:20
  The the political battle in the US seems to be heating up like
• 1:23
  we were. We started to cover last week
• 1:26
  but it's looking like it's it's it's a bit divisive and I would
• 1:29
  say that I think it's a losing battle for any, any party to
• 1:34
  take an anti Bitcoin stance. So we're going to get you a lot
• 1:37
  of takes from different people. And also it seems like Ron Wyden
• 1:42
  and Senator Cynthia Lummis, the Bitcoin senator, wrote a letter
• 1:47
  in this regard. So we we have, we're we're
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  covering that as well. And then I think the really big
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  news of today, the another historic milestone, we covered
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  this when the news broke, but essentially El Salvador made
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  their Bitcoin treasury public, right?
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  Naeem Bouquet. Le went on on Bitcoin Twitter
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  and he said, look, this is the address of our treasury.
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  Well, there's a website that was just launched.
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  I think it's Mempool actually, that just launched a specific
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  URL to cover that that deposit address.
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  So you'll see how they were stacking, how they're stacking
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  every single day and now it's, you know, public for the world
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  to see. Anyone could audit El Salvador's
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  reserves. And this is in stark contrast to
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  how essentially the gold reserves work, right.
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  Fort Knox which was built after the six 102 order that hasn't
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  been, I mean they say it's audited every year, but it the
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  public hasn't actually seen any gold in in in Fort Knox since I
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  think the 1970s. So you really and they only
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  showed one vault in the 1970s. So it's like you have to take
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  the government's word for it that they do have all that gold
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  that they said they do, that they, you know, stole from
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  American citizens. So you kind of have to like take
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  the government's word for it. Like it's the opposite of don't
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  trust, you know, don't trust, verify.
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  It's kind of like trust us, don't verify.
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  And I'll say I'll, I'll, you know, I'll echo what I said
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  many, many months ago when this news first dropped.
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  Any country that is criticizing El Salvador, like you have
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  absolutely no legs to stand on. You have no right to lecture El
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  Salvador. What they should do until you
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  make your reserves public. Until then you're just Larping.
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  You know, you're you're you're, you're, you know, you're trying
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  to use moral virtue. You're trying to come from a
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  place of of superiority to try to dictate to this Central
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  American country what they should do and what they what
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  what they should do, what direction they should go by.
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  Look, until you make, you know, your gold reserves public, like,
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  I'm sorry guys, I'm not going to listen to you.
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  And I remember when this happened, I said, look, the
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  world's never going to be the same.
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  And then a lot of people are like, why is that, Nico?
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  Well, look, when you make your reserves public, it makes it a
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  lot, It makes it a lot harder to steal from it, right?
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  If everyone can verify what's going on with El Salvador's
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  reserves and you know it's there for the world to see, then you
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  know you can't just, you know, take some from the top and put
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  it on, put it in your pocket. I'm not trying to insinuate
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  anything, but it is a little strange to me that we haven't,
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  you know, gone back since the 1970s to see if that gold is in
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  the in the vault in Fort Knox. And it's just kind of like, you
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  know, trust me, bro, type of thing.
• 4:29
  So anyways, it's going to be a great show, lots to talk about.
• 4:31
  And of course, we have a very special guest.
• 4:34
  We have Nate Bard, Nate Martin, fellow bitcoiner.
• 4:37
  Hey man, welcome back to the show.
• 4:40
  Hey, thanks a lot Nico. I really appreciate it.
• 4:43
  And of course my legendary coast who is always optimistic.
• 4:47
  He has a semi smile today. How you doing Opti?
• 4:51
  Opti got a haircut. Looks like as well.
• 4:53
  I didn't get a haircut. I just.
• 4:55
  I didn't comb it. Really.
• 4:57
  So it looks like I got a haircut.
• 5:00
  I'm not wearing a hat. All right, Don't don't worry
• 5:01
  about my hair. It doesn't matter about my hair.
• 5:03
  We're here about Bitcoin content.
• 5:05
  So I. Really just yeah.
• 5:08
  Yeah, you're not got a haircut. No, I really am excited for
• 5:11
  today's culture because like first of all, I mean Nico just
• 5:15
  brought up everything and and I think at this point I can just
• 5:18
  do one of these, you know, like you're.
• 5:19
  Against Bitcoin, you're against freedom.
• 5:22
  The fact that you've all harari of the world's and them don't
• 5:24
  like Bitcoin just makes me know that we are on the right path
• 5:27
  with Bitcoin. But we'll get all that in the
• 5:29
  news and the numbers and stuff. I'm really excited for today's
• 5:32
  culture with Nate because he's a fellow content creator.
• 5:36
  We know how hard it is to make content and formerly at 99
• 5:39
  bitcoins and today we're going to get all the tea, we're going
• 5:42
  to get the whole back story. I think people are going to
• 5:45
  really enjoy this and and really double down on the idea of this,
• 5:48
  the importance of making Bitcoin only content which we literally
• 5:52
  live and die by. So this is going to be a great
• 5:55
  show today, Nico. Absolutely guys, if you're
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  enjoying the show so far and you want to help us push the orange
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  signal on the algos, make sure to smash that like button.
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  Tells YouTube to push this content forward.
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  And if you guys are watching us on Rumble an X applies as well.
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  Smash that like button. The end of the week we're going
• 6:12
  to be in Canada for the Canadian Bitcoin Conference.
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  We're going to be live streaming from the floor.
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  We're also going to be live streaming the entire conference
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  from the channel as well. So really looking forward to
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  that guys. We have an entire week ahead of
• 6:23
  us, full packed of Bitcoin content.
• 6:27
  So sit back, relax and enjoy the ride.
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  All right, everybody, let's start the show.
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  scheme of things we are just getting started.
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  Anyways TFTC Marty bent dropping the hot fire.
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  This was his original tweet from from Bitcoin Twitter and I
• 9:59
  believe that the BIS is the Bank of International Settlements
• 10:03
  Innovation Summit. I would say that banks and
• 10:06
  central banks and all these institutions, I think they're
• 10:09
  the on the polar opposite of innovation.
• 10:12
  I think they're incentivized because they're just trying to
• 10:15
  protect their Moat. They're like the horse and
• 10:17
  buggy. They're like the the horse and
• 10:19
  but the the horse and buggy people, you know, talking,
• 10:22
  talking S about cars, they're like you know the when
• 10:24
  electricity was first rolled out, you know, it's like the the
• 10:28
  the oil and gas companies, you know, cuz that's how that's how,
• 10:30
  you know people used to see, right.
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  It was like literally like gas powered lanterns and all that
• 10:34
  stuff like you know, and they're bashing electricity.
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  Like I I get it. You know, the established
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  players like you know, they don't wanna get like rooted out.
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  I understand. But you have to you know, if
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  you, if you want to see what someone's about like take a look
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  at their incentives, right. It's just funny how they just
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  rolled out this. Like well known, well known
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  author who wrote this book called Sapiens that he's a
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  regular at the Continuing Air Conference, AKA the World
• 10:59
  Economic Forum. They just roll him out and they
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  just, you know, they asked him a question and his answer was just
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  absolutely insane. Let's check out the clip.
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  Are you playing it, Nika? Because I'm not saying anything.
• 11:17
  Oh yeah. Let me try that one more time.
• 11:19
  Here we go. When I look at at Bitcoin as an
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  as, as, as a, as a historian, I don't like it because this is a
• 11:27
  money built on this trust. The central idea of Bitcoin is
• 11:32
  basically electronic gold that we don't trust the banks, the
• 11:37
  governments. So we don't want to give them
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  the ability to create as much money as they like.
• 11:44
  So we create this Bitcoin. It's a currency of distrust.
• 11:49
  I do think that the future belongs to electronic money, but
• 11:53
  what we've seen over the last centuries is that it's actually
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  a good idea to give banks and governments the ability to
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  create more and more money in order to build more trust within
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  society. So I'm not sure what kind what
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  money would look like in 20 years or 30 years, but I hope it
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  will be a a currency of greater trust and not a currency of
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  distrust. I mean like like the reason that
• 12:27
  Bitcoin was invented in the 1st place.
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  The reason that people are seeking an alternative in the
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  1st place is because of how much governments betrayed that trust,
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  right? Bitcoin wouldn't exist if they
• 12:39
  didn't betray that trust, right? And it's crazy the part where
• 12:44
  he's basically saying that, like, you know, the the last
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  century has shown that it was a good idea to give governments
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  this power over the people. Like, like the two World wars,
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  the Great Recession, the Great Depression.
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  Like, how does it inspire trust in people when you debase their
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  savings when you debase, you know what their their their
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  purchasing power and you debase their energy.
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  Like that is absolutely crazy. If you want to take a look at,
• 13:15
  at a definition of gaslighting, this video will literally pop
• 13:19
  up. But again, it tells me that
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  we're winning. And the reason that I'm saying
• 13:23
  that is because they wouldn't be talking this, they wouldn't be
• 13:26
  talking about Bitcoin at their summit if they just didn't see
• 13:30
  that people were seeking it. It is an alternative.
• 13:32
  And the other thing also is like, I don't care if you're a
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  historian, right? The free market is going to
• 13:38
  decide like no one has to. You don't have to coerce someone
• 13:42
  into using Bitcoin. They're incentivized to use
• 13:45
  Bitcoin because it's just better money.
• 13:48
  And like they're approaching it from like a position of like the
• 13:51
  central planners. They're like, they're like
• 13:53
  you're like oh we know what's best for everyone.
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  We know what money what everyone what money everyone should be
• 13:59
  using. You don't have to worry about
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  that. We'll make the decision for you
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  like it's like, no bro, like we're going to the individuals
• 14:06
  are going to make that decision for themselves.
• 14:09
  And I think you know, the central banking class or the
• 14:13
  political class, they don't understand that they that
• 14:17
  literally it it they they can't comprehend that very idea.
• 14:20
  They they don't understand it. They can't comprehend it.
• 14:23
  They can't think of a world where they can't coerce people
• 14:27
  into doing what they want, right.
• 14:29
  And the awesome part about Bitcoin is that you can't stop
• 14:31
  the signal. You can't stop millions upon
• 14:34
  millions of individuals all over the world running their own
• 14:37
  nodes writing down a 12 word seed phrase.
• 14:40
  And so just saying, like, look like I'm going to store my
• 14:42
  energy, my time, my work into into a money that doesn't debase
• 14:47
  into a money that doesn't steal from me, right.
• 14:49
  And, you know, and they're going to pull out all the stops and
• 14:52
  they're going to try to tell you everything and anything for you
• 14:56
  not to do that. Right.
• 14:58
  You know, and I was making a joke about this like two years
• 15:01
  ago. And I was like, look like how
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  long until they say, you know, self custody is a threat to
• 15:06
  national security. Fast forward a couple years
• 15:08
  later. That's exactly what they're
• 15:09
  saying. But how are you going to say
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  that? Like how are you going to how
• 15:13
  are you going to convince me that writing down 12 words is
• 15:16
  somehow dangerous to society? You know what it is.
• 15:19
  It's a dangerous to the it's a it's dangerous to to your grift,
• 15:23
  it's a dangerous to the to the status quo.
• 15:26
  You can't convince me otherwise at this point.
• 15:28
  And I would say more people day by day wake up to the reality of
• 15:34
  Bitcoin and I would say that more people day by day wake up
• 15:37
  to the fraud that is Fiat currencies and they can't
• 15:41
  address it. They can't, they can't
• 15:42
  comprehend as to why people are seeking an alternative if
• 15:46
  governments did not betray the trust of debasing the currency,
• 15:51
  If governments did not betray that, I don't think Bitcoin
• 15:54
  would exist right? Like in the genesis block, it
• 15:57
  literally says chance are in the brink of the second bailout for
• 15:59
  banks, right? Like it literally says it like
• 16:03
  the reason as to why Bitcoin was invented in the 1st place.
• 16:06
  So no, I think we should live in a world of less trust, more
• 16:12
  verify, and do the exact polar opposite of what this guy is
• 16:17
  recommending. And thank God that, you know,
• 16:20
  historians don't have any influence on whether people
• 16:24
  adopt Bitcoin or not. I would say more than
• 16:26
  historians, I don't think anyone has influence on that.
• 16:29
  I just think it's Bitcoin a superior incentives and that's
• 16:32
  why it's going to win anyways. Opti, what's your take on all
• 16:34
  this, brother? Man, Yuval Harari.
• 16:38
  First of all, I'm not a fan of him, so you could take that with
• 16:41
  the context of what I'm going to say afterwards.
• 16:44
  But this guy, like Nika said, this is a perfect example of
• 16:48
  gaslighting. Or rather, you know, as a
• 16:50
  bitcoiner, we have the meme don't trust, verify.
• 16:53
  Like because you guys have destroyed your trust, we don't
• 16:57
  trust you. And what do you say like Bitcoin
• 16:59
  is a currency based on distrust. It's like, no, we've eliminated
• 17:03
  having to trust anyone. We verify things for ourselves
• 17:06
  and that's why it's a superior currency because or rather a
• 17:09
  superior money because the stuff we're using now, it's literally
• 17:12
  trust us, bro. We know what we're doing.
• 17:15
  We're going to, we're going to manipulate the economy, we're
• 17:17
  going to manipulate currency and we got your best interest in
• 17:20
  mind. And it's like, no, we don't have
• 17:23
  to play that game anymore. And that's why we're bitcoiners,
• 17:26
  is because we fundamentally don't trust you.
• 17:28
  Your system's based on trust. You've abused that trust.
• 17:31
  So we've eliminated that single point of failure.
• 17:33
  We don't have to trust anyone. It's not a currency or a money
• 17:36
  based on distrust. It's basically a money based on
• 17:40
  a don't trust verify for yourself.
• 17:42
  And this is how you know that you are using the best money in
• 17:45
  the world. So I absolutely love that
• 17:47
  they're trying to gaslight us at the Bank of International
• 17:49
  Settlements Innovation Summit. Just the the irony there is
• 17:53
  incredible, and the amount of doublespeak there is incredible.
• 17:57
  And let's not forget that Yuval Harari is the guy who's famous
• 18:01
  for saying that, oh, in a few years there's going to be way
• 18:03
  too many useless eaters, AKA humans, and we got to figure out
• 18:07
  a way to to control them. Or the other famous meme of him
• 18:11
  is the idea that, oh, humans are just wholly programmable.
• 18:16
  We know exactly how to brainwash them so that they do exactly
• 18:19
  what we want them to do. And here we are, we're like yo
• 18:22
  bro, like you're either on team human or you are anti human.
• 18:27
  And I know what side Yuval Harari is on.
• 18:30
  He's on the anti human side and as we say all the time it is bit
• 18:34
  corner to slavery. If he's coming out, especially
• 18:36
  at the Bank of International Settlements Innovation Summit,
• 18:39
  if he's coming out against Bitcoin, well what does that
• 18:42
  inherently mean? It means he is pro CBDC, and he
• 18:44
  even said it in that clip. It's like, oh, I don't know what
• 18:47
  the future of money will be, but I think it's going to be
• 18:49
  digital. So do you want a digital money
• 18:51
  that they can control every one of your human behaviors or a
• 18:55
  money that they can't control? Well, you don't have to trust
• 18:57
  them. Well, you.
• 18:58
  All you have to do is verify for yourself that the money works.
• 19:01
  I've made my choice. It's very simple.
• 19:03
  It is Bitcoin and Yuval Harari can have his CBDC.
• 19:06
  I'm OK with that. Like, have fun with your CBDC,
• 19:09
  bro, but you're not going to convince me otherwise that it's
• 19:11
  not Bitcoin. Great.
• 19:13
  Take Opti. Great take, Nate.
• 19:16
  What's your what's your take on this, bro?
• 19:17
  Wow, Opti. Listen, the only thing I don't.
• 19:20
  Like Yamaha, Harari A. Little bit, a little bit.
• 19:23
  Listen, the only the only person I should have to trust in a
• 19:26
  transaction is you. I shouldn't have to I shouldn't
• 19:30
  have to worry as to whether or not the money that I'm using for
• 19:34
  that transaction is being controlled by somebody else.
• 19:38
  And and that's that's the the crux of the issue and I'm I'm
• 19:42
  listening to this. I'm glad I was fasting this
• 19:45
  morning because I about threw up I didn't want.
• 19:47
  To have. It was just horrible.
• 19:51
  He's saying all these things. Distrust was the wrong word.
• 19:54
  And like you said, he's just totally gaslighting us.
• 19:57
  But for for us to be able to trust the money?
• 20:02
  We have to know that it's not going to be changed or that it's
• 20:04
  extremely difficult to change. And that's what Bitcoin has
• 20:06
  written in its protocol. And I'm sorry, but when he says
• 20:11
  it should be based on trust, no, I think he mispronounced the
• 20:15
  word control. Let's be honest about this.
• 20:17
  What they're looking to do is control us.
• 20:19
  And if you look at the CBD, CS that are already in place are
• 20:23
  already being already being looked at as, as an opportunity
• 20:28
  for these countries to control their people, They've already
• 20:31
  stopped people from being able to buy things based on the
• 20:37
  pandemic that happened three years ago.
• 20:39
  And I don't know even whether I can say that on on this, but you
• 20:43
  know whether or not you you got a stick in your arm as to
• 20:46
  whether or not you can go buy groceries, they've already tried
• 20:49
  that and that was the experiment and now we know that the next
• 20:53
  experiment is the money. Well, I'm not going to be part
• 20:56
  of that. I'm going to use the money that
• 20:58
  you and I agree is something that isn't going to change.
• 21:02
  And so the value that you give me and the value that I give
• 21:04
  you, we can trust that between each other without having to
• 21:07
  worry about somebody else. Beautiful and and I think that's
• 21:11
  you know and I think you you you you hit the nail on the head
• 21:13
  there, Nate. I would say that's the part that
• 21:16
  pisses them off. I would say that's the part that
• 21:19
  that drives them crazy is the fact that they they they don't
• 21:22
  have that coercive, coercive forcing function right.
• 21:27
  And I think it exposed their totalitarian Ness just exposes
• 21:32
  like they have little Ferdian slips here and there cuz what
• 21:36
  he's saying is just it's so beyond absurd that and
• 21:41
  especially he calls himself a historian like and I can't help
• 21:47
  to think, help to like reference the Ron Paul quote, right.
• 21:50
  It's like it's not a coincidence that the century of central
• 21:54
  banking is the bloodiest century in human history.
• 21:56
  Like him being a historian you would think that him out of all
• 22:00
  people would like know the fundamental like know that Fiat
• 22:03
  enabled this endless war this like death machine And like he's
• 22:08
  just completely unaware of that. Like I would say that he's not a
• 22:11
  historian he's a propagandist for the central bankers Like
• 22:14
  that's really what that's really what he is.
• 22:17
  I I can't you you can't come to another conclusion like you you
• 22:21
  can't be like I'm going to give him the benefit of the doubt
• 22:24
  like you can He went so far to the other side and say like we
• 22:28
  should trust governments more. Look, I I we can't say that what
• 22:33
  you said, Nate, but we'll say that like the last five years
• 22:37
  has definitely shown some things that I would say don't don't
• 22:46
  really motivate people to trust their governments more, to put
• 22:51
  it very nicely and gently. I think it's the exact opposite
• 22:55
  of what he's saying. Thank God for Bitcoin.
• 22:58
  I don't know what we would do without Bitcoin at this point.
• 23:00
  I think that these would be very dark times that with Bitcoin I
• 23:04
  see hope you know where where before I think I would see like
• 23:08
  Can you imagine what we what we went through as a society in the
• 23:11
  last 10 years and Bitcoin didn't exist.
• 23:15
  It would be horrific, right? Like I wouldn't be able to, I
• 23:18
  would have no capability of having any type of idea of what
• 23:23
  my future would be like. And I think Opti would fit into
• 23:26
  that category with me as well. And and if you're a Gen.
• 23:28
  Z, like you're a serf, you're you're a Russian serf like
• 23:32
  you're you're like literally like you can't, you don't own
• 23:35
  nothing and be happy like even telling you what they think,
• 23:39
  right. So what's your take on that,
• 23:40
  Nate? Well.
• 23:44
  There's there's so much to unpack there First of all your
• 23:47
  pension for diploma speak is noteworthy.
• 23:50
  Well done. But it it really does all come
• 23:56
  back down. I'm I'm almost kind of and and
• 24:00
  you say what would happen if Bitcoin didn't exist.
• 24:03
  And the fact of the matter is we would have how many millions of
• 24:07
  people. And we're just talking about
• 24:08
  North America because that's where our markets are.
• 24:11
  How many millions of people wouldn't have asked themselves
• 24:14
  the question over the last 15 years, what is money and what
• 24:18
  makes it good? Just the fact that Bitcoin has
• 24:21
  opened people's eyes to the fact that money has been created
• 24:26
  specifically in 1971 out of thin air and we're supposed to rely
• 24:32
  on the full faith and credit of the United States.
• 24:34
  Well, I'm sorry, I don't trust the government, and we never
• 24:37
  should have, Especially after Nixon pulled the rug.
• 24:41
  Once that happened, everybody should have been asking
• 24:43
  themselves, what are we really spending?
• 24:46
  What is? What is really what are we
• 24:49
  making? What are, what are we trading
• 24:50
  our value for our ideas and our labor?
• 24:52
  What are we trading that for? Because if it's just a piece of
• 24:55
  paper that the government says has value, we should be
• 24:57
  questioning that. We should be questioning that
• 24:59
  hard. So you know, that's the one
• 25:02
  thing about Bitcoin that I think has been the most beneficial
• 25:08
  other than the other than the asset itself, is that people are
• 25:12
  beginning to ask the question, what is money and what does that
• 25:14
  really mean for my value and my family's value in the future?
• 25:18
  A. 100%, I completely agree with that and I think that's going to
• 25:24
  be the question of the decade. What is money the next 5-10
• 25:29
  years? And it's really the
• 25:30
  responsibility of content Bitcoin, content creators and
• 25:33
  just bitcoiners in general. Just get people to to to just
• 25:37
  make that your goal. Like don't attack their
• 25:39
  politics, don't attack their ideologies, just get them to ask
• 25:42
  the question, what is money? Bitcoin will literally take care
• 25:45
  of the rest. You don't have to do anything
• 25:47
  right. So anyways, before we we move on
• 25:50
  to the news, I do want to give a shout out to our sponsor.
• 25:53
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• 26:15
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  Confirmed attendees so far include Larry Leopard, Preston,
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  scan the QR code or check the link in the video description.
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  It's going to be a great time. All right, everybody, let's move
• 27:08
  on to news. Here we go, the Daily News.
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  check the link in the video description.
• 28:46
  All right everybody, quick update on this.
• 28:48
  This is going to continue to get more heated as time progresses
• 28:54
  just because it is an election year and now it's become an
• 28:58
  election topic. Unfortunately it's become
• 29:01
  somewhat partisan and we're gonna get to the consequences of
• 29:04
  that and some of the reactions from the community in regards to
• 29:08
  that. So last week, and I guess unless
• 29:12
  you guys, in case you guys have missed it, Donald Trump came out
• 29:16
  and said if you were to elect me for president, I would support,
• 29:20
  I would basically, you know, not go after quote UN quote crypto
• 29:24
  to use his words. And of course the buying
• 29:26
  administration has been incredibly hostile towards the
• 29:29
  industry. The proposed 30% tax, right, the
• 29:33
  attack on self custody, you know, the the the arrest of a
• 29:37
  certain Bitcoin privacy developers.
• 29:41
  So, yeah, so many things that have happened and now it's
• 29:44
  become a a election topic unfortunately, because obviously
• 29:47
  as bit corners we'd want this to to remain bipartisan and because
• 29:50
  it is a it is a neutral technology, right.
• 29:53
  So anyways, before I get to that, here's Troy Cross and he
• 29:57
  says special thanks to my Senator Ron Wyden for his
• 29:59
  principal support of the rule of law and protection of
• 30:02
  fundamental freedoms and and Senator Cynthia Lummus involved
• 30:07
  in there as well. So it's it was a letter from
• 30:10
  Senators Lummus and Ron Wyden to the DOJ regarding the DOJ's
• 30:14
  recent arguments to expand their interpretation of what
• 30:17
  constitutes a money transmission business.
• 30:20
  So it goes on to say, dear General Gardlin, we right to
• 30:24
  express our grave concerns regarding the DOJ's recent
• 30:27
  policy arguments that dramatically expand the scope of
• 30:30
  the federal prohibition on operating an unlicensed money
• 30:33
  transmission business. The DO JS unprecedented
• 30:36
  interpretation of the statue in the context of non custodial
• 30:39
  crypto asset software services. And that's the keyword ladies
• 30:43
  and gentlemen, you have to pay attention.
• 30:45
  You have to pay attention to when they bury the lead, that's
• 30:48
  the, that's the lead right there.
• 30:50
  Is that what they're trying to do is they're trying to
• 30:52
  basically say that if you operate a software wallet or a
• 30:57
  type like because that's essentially where they're going
• 30:59
  with this, that doesn't have KYC, that doesn't have AML, you
• 31:04
  know that is somehow against the law, right?
• 31:08
  That's essentially what they're trying to do.
• 31:09
  And you have to look at the law fair.
• 31:12
  You have to look at the little steps, the little baby steps
• 31:14
  that they took to get here, right.
• 31:16
  They didn't start with Samurai first.
• 31:19
  They started with tornado cash. No one really knew what tornado
• 31:22
  cash was. No one really used it, right.
• 31:24
  It was. It was not popular and they
• 31:26
  basically said that tornado cash was enabling money laundering
• 31:31
  for North Korea. Coin Center sued them.
• 31:34
  A lot of people fought back, but they lost those lawsuits.
• 31:37
  And then the federal government basically made it precedent that
• 31:40
  open source software can be used as you know to to launder money
• 31:46
  and that that, you know, that's A.
• 31:48
  And they set a precedent less than a year later, it's like
• 31:51
  roughly nine months. They arrested the samurai wallet
• 31:54
  guys, right? Basically without having to pass
• 31:58
  any type of legislation. the US government made it illegal to
• 32:02
  use coin mixing in the United States.
• 32:05
  No legislation passed. It was just via enforcement.
• 32:07
  And then everyone else got spooked, right?
• 32:10
  So Wasabi stopped offering the service.
• 32:13
  Obviously they put the samurai guy, the samurai guys in jail.
• 32:16
  They're fighting that. One of the guys was released on
• 32:18
  bail, but that's what I want you guys to pay attention to is that
• 32:22
  that might not seem as much, but you have to understand that it's
• 32:25
  little baby steps that are taken precedence that are set.
• 32:30
  And then before you know it, four years from now they'll say
• 32:33
  you can't download Electrum and you can't download Sparrow
• 32:37
  because they don't have KYC because they don't, you know,
• 32:41
  protect against, they don't enforce sanction laws here in
• 32:45
  the United States. You can't download those wallets
• 32:47
  and because that's unenforceable, you actually just
• 32:50
  can't withdraw from exchanges, full stop.
• 32:52
  Like that is clearly where they're going with this.
• 32:55
  And This is why this election, you know, and I and I tweeted
• 32:59
  this out and maybe it was slightly out of the Overton
• 33:01
  window. Is is consequential in that
• 33:04
  sense because you have, you know you have Biden, the Biden
• 33:08
  administration in in one corner and then you have RFK Junior and
• 33:12
  Trump in the other corner and they're both basically saying
• 33:16
  like we'll protect you know specifically RFK said this at
• 33:19
  the Bitcoin conference I'll protect your right to self
• 33:21
  custody and obviously I won't go after the industry.
• 33:23
  And on the other opposite, it's like not only am I going to
• 33:26
  attack your right to self custody, we're actually going to
• 33:29
  you know we're going to push forward the central bank digital
• 33:32
  currencies as well, right. So yeah, I mean it it and again
• 33:35
  like I I think that they they have this like very like very
• 33:40
  very small window to roll this out because I I I think that by
• 33:44
  2028 I don't think you're going to be able to take an anti
• 33:48
  Bitcoin stance politically. I I just don't think that
• 33:51
  regardless of party like it doesn't matter.
• 33:53
  Like I don't think you're going to be able to take that stance
• 33:55
  because of the percentage of the population that hold Bitcoin,
• 33:59
  right. Like and you know so I think
• 34:02
  that they're just trying to like shove this down everyone's
• 34:05
  throat as fast as humanly possible.
• 34:07
  Now here's Pierre Richard. He is the VP of Research at Riot
• 34:10
  and he says it's not an exaggeration.
• 34:12
  Biden's DOJ is trying to criminalize peer-to-peer Bitcoin
• 34:16
  transactions in self custody, unchanged.
• 34:18
  Authoritarianism here is Ryan Selkis and he says Liz Warren
• 34:25
  and Joe Biden made crypto a political issue, not the crypto
• 34:29
  community. Radical policies aimed to ban or
• 34:32
  severely cripple an industry that enshrines American
• 34:35
  constitutional values into the global financial system will
• 34:38
  lead to bashed backlash. And again and here this person
• 34:42
  has a really good comment. This is something that we saw on
• 34:45
  last week's episode as well and he said, look, you know, in this
• 34:49
  case is crypto crypto Twitter was already depressing lately
• 34:52
  and now you guys infuse politics discussions into it And and
• 34:56
  that's essentially what happened last week.
• 34:58
  Like we crossed that, like we crossed that line and
• 35:01
  unfortunately I said this last week, I'm like look like this is
• 35:05
  the separation of money and state.
• 35:06
  It inevitably was going to go down this route.
• 35:08
  This was inevitable. This was always going to happen.
• 35:11
  And politics are very uncomfortable for a lot of
• 35:13
  people because it involves discussing the top echelons of
• 35:17
  power where morality completely goes out the window.
• 35:20
  I totally get that. But we didn't make this
• 35:23
  political. We didn't take a stance as a
• 35:25
  community, as you know, the Republican Party or whatever.
• 35:28
  They didn't take a stand. It's you have the executive
• 35:31
  branch being hostile towards the industry and there's
• 35:35
  consequences to that. Wallet of Satoshi pulled out,
• 35:38
  Phoenix wallet pulled out, a lot of lightning wallet.
• 35:40
  A lot of lightning Bitcoin, Lightning development companies
• 35:43
  are like, I don't know if I can set up shop here in the United
• 35:45
  States. Shout out to Zeus though for
• 35:47
  holding the line. So yeah, I mean that's my take
• 35:50
  on everything. Is that like like we didn't make
• 35:53
  this political. They did, right.
• 35:55
  And you know, like what are you going to do?
• 35:59
  Like are you just going to sit on the sidelines and observe
• 36:01
  And, you know, like, you know, like I always say this up here,
• 36:04
  are we just going to leave? Like, that could be an option
• 36:06
  too, right? But what if you don't want to
• 36:09
  leave? What if you don't have the means
• 36:10
  to leave? So if you don't have the means
• 36:12
  to leave, then are you just going to sit there right when
• 36:15
  the election happens? And then there's candidates on
• 36:17
  one side that support a certain, you know, subject or issue and
• 36:21
  there's candidates on the other side that don't like.
• 36:23
  It's unfortunate it's gotten to this point, but it's it's the
• 36:26
  reality of it. Anyways, I'm going to pass it on
• 36:28
  to Nate and then Opti. You start talking politics and
• 36:34
  you expect me not to go after that.
• 36:36
  That's it. Oh, and I'll I'll, I'll stay as
• 36:41
  neutral as I possibly can. But.
• 36:43
  But. Can.
• 36:44
  No, no, no. But I'm really glad that you
• 36:45
  said that. I'm sorry to interrupt you.
• 36:47
  OK. Can we though at this point,
• 36:49
  because it's like we have taken Nate, we have gone above and
• 36:54
  beyond to the point where free hashtag, free OPTI, right, that
• 36:58
  we have gone above and beyond to stay, quote UN quote neutral in
• 37:03
  the traditional political tropes like we are not taking aside as
• 37:08
  much as we can. But the moment they put one of
• 37:11
  us in a box, you cannot deny that voting for one these two
• 37:17
  guys is better than voting for this other guy.
• 37:20
  Purely from Bitcoin regulatory sense.
• 37:24
  You cannot deny that it's undeniable.
• 37:26
  I don't think politics, the traditional political issues,
• 37:30
  have anything to do with what I just said.
• 37:33
  No, you're and you're right. And The thing is that we didn't
• 37:38
  pick this fight. You said it already.
• 37:40
  We didn't pick this fight. Yeah, there, there was a a need
• 37:43
  for control of Bitcoin. As soon as it was evident that
• 37:46
  the Bitcoin protocol was going to continue to grow, it was it
• 37:50
  was no longer killable. It it has grown to the point
• 37:54
  where it can't be stopped. Once that's happened, they had
• 37:57
  to try to figure out how to exert control.
• 37:59
  And The thing is that one country can't do it, even one
• 38:03
  like the United States, because Bitcoin is international.
• 38:07
  It it, it supersedes borders. It doesn't matter.
• 38:11
  And I take a look at this, it's totally unenforceable.
• 38:14
  This, this, this, this ban on self custody or this attempt to
• 38:18
  do so, because if you have a self custody wallet that doesn't
• 38:22
  have KYC, well then where is it? Who owns it?
• 38:25
  Who controls it? You don't know.
• 38:27
  So how is it that you and the United States or as the United
• 38:30
  States can, can try to enforce a law when you have no idea where
• 38:35
  that where that wallet acquired, it's Bitcoin.
• 38:38
  Yeah, that's ridiculous. But these are the fights that
• 38:40
  they're they're literally throwing haymakers and they have
• 38:44
  no target to hit. There's just nowhere to go.
• 38:47
  But going back to the questions and no, we cannot stay neutral.
• 38:50
  We really can't. When you take a look at what has
• 38:52
  been said, what has been written and the policies that are being
• 38:55
  made and the lawsuits that are being filed, you you have to
• 39:01
  take a side. And it's unfortunate that we
• 39:04
  have to say that, but we're we're at, we're at that point
• 39:06
  and there's there's no getting around it. 100% like it's like,
• 39:11
  and we've tried this so hard, we've tried this so we've gone
• 39:15
  above and beyond to not get trapped in that.
• 39:19
  It is an election year after all.
• 39:21
  But you know it. It's it's undeniable at this
• 39:24
  point. And I and I saw a lot of people
• 39:26
  get upset. A lot of people got upset.
• 39:28
  They're like, no, like like, I like, I can't it's we can't vote
• 39:31
  for Trump or we can't vote for whatever.
• 39:33
  And I'm like, I'm like, like, I get it from the, you know, the
• 39:36
  traditional, the traditional things that the traditional
• 39:40
  arguments or the traditional, you know, stances that these
• 39:43
  politicians are taking like, OK, you might feel very strongly
• 39:46
  about a certain sense, but I think I, what I would say is
• 39:49
  like look at the bigger picture. I think Bitcoin over the long
• 39:52
  term makes politics irrelevant. I think it's our job to.
• 39:58
  It's our job in order to to get us to that point right.
• 40:01
  So it's like 1 candidate is not going to get us closer to that
• 40:04
  finish line. The other two candidates are
• 40:06
  going to get us closer to that finish line.
• 40:08
  If you do look at it purely from that standpoint, I think it's
• 40:11
  incredibly obvious what needs to be done, right.
• 40:14
  I also want to give a shout out to the Super chat from Martin.
• 40:17
  Thank you for the €50 man, really appreciate it.
• 40:20
  And Opti, what's your take on all this, brother?
• 40:21
  And we'll move on to the El Salvador news.
• 40:23
  Yeah, so I mean, first and foremost, just pointing out the
• 40:27
  obvious, you know, Bitcoin is a political money.
• 40:30
  So it supersedes left and right. You know, conundrum.
• 40:34
  It, it supersedes the the dichotomy of left and right,
• 40:37
  which means that it's probably the most political money out
• 40:41
  there because it is a political because it doesn't fall on any
• 40:44
  one side of the camp. Of course, people on both sides
• 40:48
  of the camp are going to feel a certain way about it.
• 40:50
  And so before I started to, you know, follow politics, just
• 40:55
  basically to be informed on what's going on in the show, I
• 40:58
  was always just apolitical. I always say it every single
• 41:00
  time, like I'm probably the least political person ever.
• 41:03
  And that's why I love Bitcoin is because it's apolitical money.
• 41:07
  It's Bitcoin is for anyone. And if you see the value in
• 41:10
  Bitcoin, then you'll start to understand what we talked about
• 41:13
  A money that cannot be debased. A money that isn't controlled by
• 41:16
  a single person. A money that is completely
• 41:19
  global, yet not controlled by any single person.
• 41:22
  To me that has value. Something that is completely
• 41:25
  neutral has value. But with that all being said,
• 41:28
  like Nate and Nico are saying, it is becoming very obvious that
• 41:32
  one side is framing themselves against Bitcoin and the other
• 41:37
  side is framing themselves pro Bitcoin.
• 41:39
  And if you're against Bitcoin, you're against freedom.
• 41:42
  And if you are against Bitcoin, then you inherently are pro
• 41:46
  CBDC. And knowing where that goes into
• 41:49
  the future, basically leading us down into a digital dystopia, A
• 41:54
  tyrannical world controlled by a digital money that is
• 41:58
  programmable, that literally they can shut you off off, that
• 42:01
  has expiration dates. I don't know about you, but
• 42:04
  anyone that that is actively fighting Bitcoin, as we always
• 42:08
  say, is actively against freedom.
• 42:09
  And I don't want any part of the world where they can control
• 42:13
  every aspect of my behavior with their money.
• 42:15
  And that is where people are setting themselves up right now.
• 42:18
  And personally, that should terrify you and that should make
• 42:21
  all your decisions for you. If you're against Bitcoin,
• 42:24
  you're against freedom. Bitcoin is the way that we are
• 42:27
  leading towards a more prosperous future.
• 42:30
  And anyone that is fighting against Bitcoin, I think I've
• 42:32
  said this before if you're against Bitcoin I I go further
• 42:36
  than just Nico. Not only are you against
• 42:38
  freedom, but you are anti anti you are actively anti human.
• 42:42
  I think Bitcoin, even though it's a digital electronic money,
• 42:45
  it's software like Bitcoin is pro human values and it's a it's
• 42:50
  about a future where you consensually trade with people
• 42:54
  peer-to-peer. We all basically respect each
• 42:57
  other enough where we're not trying to steal from each other
• 43:01
  and it just seems like a way better economic system.
• 43:04
  And so if you're against Bitcoin, you're against freedom.
• 43:06
  And I I don't want to hear any of these virtue signaling of,
• 43:10
  oh, Bitcoin is bad because of X. It's like, no, you don't
• 43:14
  understand what Bitcoin is and if you're fighting Bitcoin, then
• 43:17
  you're fighting humanity. And I don't want any part of
• 43:19
  that. Amen to that.
• 43:21
  Amen to that. Also shout out to the 1040 of
• 43:24
  you guys watching us between YouTube and X and shout out to
• 43:27
  50 or so watching us on Rumble. If you guys are enjoying the
• 43:30
  show, make sure to smash that like button.
• 43:32
  See we're already getting some of the some people in the chat,
• 43:34
  right, referencing you know the the current political arguments.
• 43:38
  Right now we have Mike in the chat, we have Johan kind of
• 43:42
  going back and forth guys. What I would say is like you're
• 43:45
  looking, you guys are looking at it from the traditional
• 43:48
  political sense, I would say zoom out and like we said in the
• 43:52
  beginning of the show, it's like literally in our, in our, in our
• 43:56
  ethos, right, the separation of money and state, that's what
• 43:59
  we're, we're homed in on, right? I think over time Bitcoin making
• 44:04
  the world better also is going to make politics irrelevant.
• 44:08
  So our mind is set on how do we separate money from state, How
• 44:11
  do we enable this? What candidates are going to
• 44:14
  enable that? I think everything else is
• 44:16
  noise, like you're getting that. You're getting stuck in the
• 44:18
  divide and conquer rhetoric and messaging that they're using.
• 44:22
  Anyways, moving on to the El Salvador news.
• 44:25
  So I I love to talk about Fort Knox because it literally was
• 44:29
  built to house all the gold that they stole.
• 44:34
  I'm using that word that's right, that they stole with the
• 44:39
  six one O 2 order. They literally built a Fort
• 44:42
  surrounded by this giant fence and these security cameras and
• 44:46
  machine guns and all that. It's literally in a military
• 44:50
  base and apparently that's where all the all the gold is housed.
• 44:56
  Well, no one has seen that gold since the 1970s, right, Which is
• 45:03
  just interesting. And the reason I'm bringing this
• 45:06
  up is because something happened with something happened here is
• 45:11
  like one of the last pictures, I believe this is like one of the
• 45:16
  like and they only were allowed to visit 1 Volt, right?
• 45:19
  And there's like there was a bunch of other volts, but they
• 45:21
  were only allowed to visit 1 Volt.
• 45:23
  And this was like one of the pictures that they took, right.
• 45:26
  And one of the videos that they took.
• 45:27
  That's it. It really isn't more proof than
• 45:30
  that, right? So it's like the exact opposite.
• 45:32
  It is like it reminds me of this video with with Harare.
• 45:38
  It like, it's like, no, I I want you guys to trust me.
• 45:41
  The gold is there. It's OK Well, you know, I would
• 45:45
  hate Bitcoin too because Bitcoin enables this and this is This is
• 45:50
  why the launch of this website was so historic.
• 45:54
  But essentially for anyone who's not in the know, El Salvador
• 45:59
  made their Bitcoin reserves completely public.
• 46:03
  So you can check, you can go use your your block explorer of your
• 46:07
  choice, you can look up that address and you'll see it's not
• 46:10
  there. Like the all the Bitcoin is
• 46:12
  there and you could see them stacking every single day like
• 46:15
  you know Naimbu Kelly said they would, right?
• 46:18
  So you know they launched their own proof of Reserve website and
• 46:22
  it's completely open. It's completely open for anyone
• 46:24
  to verify and the $360 million in Bitcoin are there.
• 46:29
  And now compare this with the so-called gold reserves that the
• 46:35
  US has had. This the like we don't we
• 46:37
  haven't seen it since the 1970s. The last video they say they
• 46:40
  audited every year, but it's the exact opposite of this.
• 46:44
  So yeah, I see why people like Harare and you know the World
• 46:49
  Economic Forum class would be frustrated because we don't
• 46:52
  trust you anymore. Not only do we not trust you
• 46:55
  anymore, it's even worse now there's it's even worse for
• 46:58
  them. There's an example of a system
• 47:02
  where we don't have to trust we can verify ourselves.
• 47:06
  So it's like a, it's like not only are we highlighting the
• 47:09
  fact that they've abused the trust, but we're also
• 47:12
  highlighting the fact that now there's a system that doesn't
• 47:15
  require trust, just like a 12 metaphorical punch.
• 47:19
  Right. So yeah, I mean, I would feel
• 47:22
  that way if I was Harare too. I would feel that way if I was a
• 47:25
  central banker. I would feel that way if I was
• 47:27
  the US government. Like, you would have to ask
• 47:29
  yourself, why are all these attacks happening?
• 47:32
  Why is the right to self custody being attacked?
• 47:36
  Well you can't get away with a six 102 order and put all this
• 47:41
  Bitcoin in a vault if you have millions upon millions of
• 47:45
  individuals taking self custody. Like the reason that they were
• 47:48
  able to get away with this in the 1st place is because of the
• 47:51
  centralization of the custody of gold.
• 47:54
  But if you have millions of people taking self custody all
• 47:57
  around the world like good luck bro and then it becomes a
• 48:01
  forcing function, then things actually change.
• 48:05
  And this is where El Salvador is leading the charge, basically
• 48:09
  saying like, oh, you guys are going to morally grandstand and
• 48:12
  try to lecture us on how we should and shoot should not do
• 48:16
  things. Well, you know what?
• 48:18
  We're going to 4D check you guys and we're going to make our our
• 48:21
  country's reserves completely public for the world to see.
• 48:27
  And that stops politicians taking some off the top and
• 48:30
  putting it in their pockets, right?
• 48:32
  It literally makes corruption somewhat impossible.
• 48:36
  That's a very strong word, but I'm going to say it like how you
• 48:39
  going to get away with that? It's complete accountability,
• 48:43
  100%. Like it's there.
• 48:45
  Everyone can see it. You cannot hide this shit,
• 48:48
  right? You cannot hide the fact that
• 48:51
  one Bitcoin is going to go missing and stuff, right?
• 48:53
  Is that gold really there in Fort Knox?
• 48:56
  If it was there, why don't they show it to us?
• 48:59
  That's a question for you guys. If that gold was really there,
• 49:01
  why don't they show it to us? Why haven't they shown it to us
• 49:04
  since the 1970s? Where is the gold?
• 49:08
  Right. So if I see any member of the US
• 49:11
  government or, you know, the national security apparatus
• 49:14
  criticize El Salvador like they have been over the last couple
• 49:19
  of years, right? You guys have nothing to stand
• 49:23
  on. There's no you can't lecture El
• 49:25
  Salvador on democracy, right? You can't lecture El Salvador on
• 49:29
  its economic decisions. You can't lecture El Salvador on
• 49:33
  its decisions on how to deal with crime even though they want
• 49:36
  to hashtag The Economist wrecked over the weekend.
• 49:40
  You guys can't do that anymore. And it drives you guys crazy.
• 49:44
  I know it does. This is why Harari did what he
• 49:47
  did. He's like, they don't even have
• 49:49
  a response at this point, which is like the the best part.
• 49:52
  It's like the cherry on top. They don't even bother, like,
• 49:56
  arguing with you. They're just like, we can't
• 49:58
  argue because we don't have the, you know, the, the facts on our
• 50:02
  side. So we're just going to say trust
• 50:03
  us. And if you don't trust us,
• 50:06
  you're consuming misinformation and you're an extremist.
• 50:08
  Like, it's getting to that point, right?
• 50:11
  So like I would say is like one of Bitcoin, one of Bitcoin.
• 50:14
  One of Bitcoin's favorite properties to me is that it
• 50:17
  exposes incentives. Let them keep exposing
• 50:21
  themselves for who they are to the point that they're going to
• 50:24
  have to admit over time, and they're admitting this.
• 50:27
  But kind of like indirectly, they're going to have to admit
• 50:31
  that they want everyone to use not only a currency that they
• 50:35
  completely control and surveil, but also a currency that steals
• 50:40
  from you. Not only do you have to pay
• 50:42
  income tax, you also have to use a currency that steals your
• 50:47
  purchasing power. Good luck, Good luck trying to
• 50:50
  explain that away. Which is why you don't even
• 50:52
  bother at this point. Which is why you send out an
• 50:56
  author on stage and say, hey, try to convince people that
• 50:59
  Bitcoin is bad. It's like you guys did that.
• 51:04
  You guys created the mistrust. Bitcoin was a reaction to the
• 51:08
  mistrust that you guys created. We the people trusted you, the
• 51:13
  government, to correctly deal with money, and what you guys
• 51:18
  did is enriched yourselves. Bail out your buddies at the
• 51:21
  cost of the rest of society. And Bitcoin is a silent protest
• 51:26
  and saying enough is enough. Fuck your money.
• 51:29
  It's absolutely terrible. I'm sorry that you guys expected
• 51:34
  that. The entire system was always
• 51:36
  going to rely on intermediaries. I'm sorry.
• 51:38
  I'm sorry that we found a sly roundabout way.
• 51:41
  That's not my problem. That's yours, right.
• 51:44
  We didn't sign up to this. I don't think we've agreed to
• 51:47
  this that the the fact that we have to lose, use the money that
• 51:50
  steals from us. So yeah, I mean, good luck
• 51:53
  trying to, you know, support your perspective in the next 5
• 51:57
  to 10 years as more and more people wake up.
• 51:59
  And I think a lot of people are going to be very upset when they
• 52:03
  realize the scam that is Fiat and you know, it's game over for
• 52:08
  politicians and the endless wars that they support.
• 52:11
  Opti, what's your take on this? Yeah well I really like bitch
• 52:16
  scenes tweet about this. You know we we've covered this
• 52:19
  for about a month and and we saw this going out and right now you
• 52:23
  know they made a nice fancy you like user experience you know
• 52:27
  just a website that tracks the Bitcoin address.
• 52:30
  But when this came out the other day Bitstein responded to an OG
• 52:35
  Bitcoin and he's like now El Salvador is the only civilized
• 52:38
  country in the world. Like Nico just did an epic rant
• 52:41
  on they're the only country in the world that is transparent
• 52:45
  with the reserves. And until other countries catch
• 52:49
  up to what El Salvador is doing, then like Nico was saying, we we
• 52:52
  literally, we don't have to pay attention to what they're
• 52:55
  talking about in in regards to El Salvador.
• 52:57
  They're the only ones that are transparent in regards to what
• 53:00
  the reserves are. And you know, call me a tinfoil
• 53:03
  hat conspiracy theorist, but I just don't think the gold's in
• 53:05
  Fort Knox. You guys could draw me all you
• 53:07
  want. I know that's outside the
• 53:09
  Overton window, but they probably spend is.
• 53:11
  It though. Is it though?
• 53:12
  Is it though, dude? Like for normies.
• 53:14
  I think for normies it might be. But like bro very logical.
• 53:17
  In my in my world. But hey, what do?
• 53:19
  I know. Where's the gold?
• 53:21
  Where's the gold? Where's the gold?
• 53:22
  Where's the gold? Honestly, if any time they'll
• 53:26
  attack El Salvador, I'm just. But where's the goal?
• 53:28
  Where's the goal? Like Nate, they stole that shit.
• 53:32
  Dude, God, I know that was. I know that was a lead question,
• 53:36
  but like, they definitely stole that listen.
• 53:39
  They've stolen it twice. I I mean and and to to your
• 53:43
  point, and you said this, we trusted the government.
• 53:45
  No, we didn't. We never did.
• 53:46
  The government made us trust them.
• 53:48
  It's like we're going to take your gold, 1933.
• 53:51
  We're going to keep it in Fort Knox.
• 53:53
  Sure you are. And then we're going to not
• 53:57
  honor the paper that France and other countries had that said,
• 54:01
  hey, we've got your gold and you can come and take it anytime
• 54:03
  that you want to. Not anymore.
• 54:06
  We never trusted the government. We were.
• 54:09
  We were sold a bill of goods from the beginning.
• 54:12
  And so that being the case, we we have to have a money that
• 54:16
  doesn't include you. Now, I'm sorry, we don't.
• 54:19
  We don't buy it. And somebody wrote in the
• 54:21
  comments, you know, governments need transparency.
• 54:23
  Well, the only thing right now that's transparent on the
• 54:25
  government is that the King's not wearing any clothes.
• 54:29
  We now know it's not true. You're out.
• 54:32
  You're out there naked as Jaybird, and we can see it.
• 54:35
  And the only person that doesn't see it is you.
• 54:39
  Yep, exactly. We can see it.
• 54:41
  The world can see it. It's incredibly obvious and
• 54:45
  you're going to have to come up with a much, much better excuse
• 54:48
  than rolling out Harare and saying oh we should use money
• 54:52
  that trust like no dude like come up with, try to justify
• 54:56
  inflation, try with a well informed populace.
• 55:00
  Good luck. That's what I would say.
• 55:02
  Because you're such an extremist, bro.
• 55:04
  Trust the expert. What's wrong with you?
• 55:06
  What? Think about my roads, bro.
• 55:07
  Come on. I mean, I don't think I would be
• 55:09
  such an extremist if it wasn't for the fact that I didn't see,
• 55:13
  you know, the lack of opportunity that my people of my
• 55:17
  generation have, The lack of upward mobility, the lack of
• 55:21
  their ability to buy their first homes.
• 55:23
  If, you know, if I wasn't on a Bitcoin standard, like, I would
• 55:25
  be totally royally effed right now.
• 55:28
  You know, like, like Bitcoin literally was.
• 55:30
  And I. It's not like I did anything
• 55:32
  crazy. It's not like I, you know, like
• 55:34
  won a lottery or something like that.
• 55:35
  No, I've just been saving in Bitcoin.
• 55:37
  And when you save in Bitcoin, life gets progressively cheaper.
• 55:40
  And if life gets progressively cheaper, that means it becomes
• 55:42
  more affordable, right? So I mean like dude.
• 55:45
  Like. It's it's like that meme, like
• 55:47
  who radicalized you? And it's like you.
• 55:50
  Did exactly right that meme. It's like you know, and then
• 55:52
  it's like the MPC and then the MPC like gets pissed off or
• 55:56
  something. Anyways, I do want to give a
• 55:57
  shout out to our sponsor, the Orange Palap.
• 56:00
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  city, this is a great resource. It's probably a good idea to
• 56:24
  build up that bitcoiner rolodex because I believe bitcoiners are
• 56:27
  going to be some of the most powerful, influential people in
• 56:30
  the next 5 to 10 years. Opti and I, our DMS are open.
• 56:33
  If you download the orange pull up you can send us a message and
• 56:36
  we take the time to answer each and every single one of you
• 56:38
  guys. So download the orange pull up
• 56:40
  today. You can go to orangepullup.com
• 56:42
  or you can scan the QR code currently on the video.
• 56:46
  Anyways, everybody, let's move on to the culture.
• 56:51
  The Daily Culture. I do want to give a shout out to
• 57:00
  our sponsor, Kobe Max. They're the most trusted place
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  You can scan the QR code or you could check the link in the
• 58:02
  video description OPTI. Let's go.
• 58:04
  OK, guys. So I think, I think we're going
• 58:07
  to have a a great, great discussion here.
• 58:09
  So Nate, I want to give you the floor.
• 58:12
  I know you have a story you want to tell.
• 58:14
  So Nate, formerly of 99 bitcoins, A fellow Bitcoin
• 58:17
  content creator, but he just recently departed and you wanted
• 58:21
  to tell the whole story. So I'll just give you the floor,
• 58:23
  bro, and you could take it from here.
• 58:27
  After Nico, thank you so much for letting me do this because
• 58:29
  it's it's been a couple of months now and if you've taken a
• 58:34
  look at 99 Bitcoins YouTube channel, it's a lot different
• 58:39
  and I need to start from the beginning.
• 58:41
  And today I'm for those of you who met me either in Miami in 21
• 58:46
  or in Miami in 23, I had to explain to you guys, I never
• 58:50
  owned 99 bitcoins. I was literally orange pilled on
• 58:54
  a teleprompter because the owner of 99 bitcoins, the founder of
• 58:58
  99 bitcoins pick me up as a spokesperson, gave me the
• 59:03
  scripts and I was literally reading this thing about
• 59:07
  bitcoins. Thanks Mike.
• 59:10
  Literally reading about Bitcoin on the teleprompter as I'm doing
• 59:15
  these videos and I needed to find out more and more about it.
• 59:19
  Well, fortunately, Ophir, who was the owner at the time, kept
• 59:24
  giving me jobs to do and I kept reading the scripts and kept
• 59:28
  learning more about Bitcoin, Bitcoin mining, Bitcoin wallets,
• 59:30
  what happens from send to receive all of the videos that
• 59:33
  you're used to seeing me on five and six years ago?
• 59:36
  Well, because of about three or four years ago, he was in the
• 59:40
  process of the exit strategy. That's what entrepreneurs do.
• 59:43
  That's fine. I knew this.
• 59:44
  This wasn't going to be the full time job for me until I retire
• 59:49
  anyway. So I took it in stride.
• 59:52
  And every time he told me it's up for sale, we're talking to
• 59:56
  somebody. But I don't think it's going to
• 59:57
  happen. And that happened for about 3
• 59:59
  years until this last March, he said.
• 1:00:02
  This thing, I think that's really going to happen this
• 1:00:04
  time. And so he's been really careful
• 1:00:08
  about putting this together and making sure that he's going to
• 1:00:12
  have that, that the 99 Bitcoins brand is going to continue being
• 1:00:16
  the neutral, informative site that it always has been.
• 1:00:21
  What that tells me, if you put 2 + 2 together, is that the people
• 1:00:24
  that sat down at the negotiating table with him, we're not being
• 1:00:27
  upfront and honest with him. When they were, when they were
• 1:00:29
  talking about what they were going to do, I penciled in
• 1:00:32
  another 18 months with 99 bitcoins, and that was the week
• 1:00:36
  before March 11th. And I'm getting ready to do the
• 1:00:39
  news like I always do. And then the first video came
• 1:00:42
  out on 99 bitcoins with the new owners and they were shilling
• 1:00:46
  shit coins like nobody's business.
• 1:00:48
  And so I called, Ophira said I can't do this, I can't.
• 1:00:52
  I know I'm making a significant amount of money by doing what
• 1:00:56
  I'm doing, but I can't show my face in any Bitcoin venue and
• 1:01:04
  and represent a channel that is now actively shilling projects
• 1:01:10
  that are going to be rug pulls. So that's what happened.
• 1:01:13
  And actually when when Ophira found out what they were going
• 1:01:17
  to do with it, he was he was not happy.
• 1:01:20
  And and so nobody that's at the original 99 bitcoins staff or
• 1:01:25
  founding is happy with how everything happened.
• 1:01:29
  And so I I decided to step away and what was what was really
• 1:01:35
  great is that the fans from 99 bitcoins, as I saw the comments
• 1:01:39
  on my last video and on the videos that were there
• 1:01:44
  afterwards because the first video was like, did this channel
• 1:01:47
  get hacked? What happened?
• 1:01:48
  I said how, how did they allow that to happen?
• 1:01:49
  It's like where'd Nate go? And.
• 1:01:53
  And and so it was those comments that made me recognize this fan
• 1:01:59
  base. I I I hate to use the word but
• 1:02:01
  but this, this loyal following deserves to have what we
• 1:02:07
  presented continue to happen because they because you as that
• 1:02:11
  loyal audience are still looking for a place to send new people
• 1:02:16
  that you're orange filling to for solid news about Bitcoin.
• 1:02:21
  And that's what that's what I've chosen to do with the Bitcoin
• 1:02:24
  effect. And I've been.
• 1:02:26
  I've been getting a lot of comments from those who finally
• 1:02:29
  found me because there was there was no way for them to find me
• 1:02:32
  because I left 99 bitcoins without a video, without a
• 1:02:35
  transition, never had a conversation with anybody.
• 1:02:38
  And so literally starting from scratch has been quite the task.
• 1:02:44
  But it's been the encouragement in the comments that I've been
• 1:02:47
  seeing every week with the new videos that has kept me going.
• 1:02:50
  So that's the story. I never own 99 bitcoins.
• 1:02:54
  I was a spokesperson and basically with the new ownership
• 1:02:57
  thinking that I was going to be doing the same thing.
• 1:02:59
  But once they did what they did, I just couldn't.
• 1:03:01
  So that's why it's it's Bitcoin only on the Bitcoin effect and
• 1:03:06
  that's my stance. Love it bro.
• 1:03:09
  I mean, dude, like it's unfortunate, right, 'cause you
• 1:03:12
  know and and again like you are getting millions of views, right
• 1:03:17
  for some of the and like getting a million views on YouTube is
• 1:03:20
  very difficult, right? It was a little bit different
• 1:03:23
  back then, right? Because it was, it wasn't as as
• 1:03:25
  competitive as it is today, but at the same time like you know,
• 1:03:30
  like that's millions of people that were that were influenced
• 1:03:34
  by your content in a in a positive way.
• 1:03:37
  And that's unfortunate. And I was just taking a look at
• 1:03:40
  the channel. They have completely gone down
• 1:03:42
  the, you know, I don't like to talk negatively of other content
• 1:03:47
  creators, but they they've gone down the the altcoin path.
• 1:03:52
  And I'm also looking at their performance as well.
• 1:03:54
  Like it hasn't really been resonating with their audience.
• 1:03:56
  And I don't think it would because if if you built an an
• 1:03:59
  entire channel and community based on Bitcoin only and all of
• 1:04:02
  a sudden you're taking a, you know a a completely different
• 1:04:05
  stance in turn, right. It's like that community that
• 1:04:08
  you built, you know that you that you built over the years.
• 1:04:11
  It's very difficult to do. Everybody, you know, they're
• 1:04:16
  looking at that. They're like, what is going on?
• 1:04:18
  What is this? You know, this is, this is
• 1:04:19
  gnarly, this is nuts, right? So.
• 1:04:22
  It was. And the one thing I want to, I
• 1:04:24
  want to clarify that though Nico, is that we didn't
• 1:04:26
  necessarily do just Bitcoin only stuff.
• 1:04:29
  But what we did is we presented what projects were or what
• 1:04:34
  exchanges were in a way that you didn't know what position I held
• 1:04:38
  after the video was done. And that was the idea.
• 1:04:41
  You know, nobody knew that I was Bitcoin only.
• 1:04:44
  Nobody knew that from 99 bitcoins.
• 1:04:46
  I mean, if you saw the Bitcoin effect from before and you saw
• 1:04:49
  the interviews that I did kind of as a haphazard hobby, then
• 1:04:53
  you'll know that's that's my bent.
• 1:04:55
  And now I get to say, hey, here's the Bitcoin effect.
• 1:04:58
  We're about Bitcoin and I've always been about Bitcoin.
• 1:05:01
  But being a contractor with another company forced me to
• 1:05:06
  stay in my lane and I don't have to stay in that lane anymore.
• 1:05:10
  I can say exactly what I feel about what these other projects
• 1:05:13
  are do and or or what they do or don't do, and say, listen,
• 1:05:18
  Bitcoin is the best money that has ever been engineered by
• 1:05:21
  mankind. And this is how it works, why it
• 1:05:24
  works and why it's going to change how we not only do
• 1:05:28
  business, but how we interact with one another in the future.
• 1:05:33
  Absolutely, absolutely, Opti. What's your take on all this,
• 1:05:35
  brother? Yeah, well First off I I asked
• 1:05:39
  Nate this before the show and and he brought it up as well as
• 1:05:43
  like he got orange pilled on a teleprompter.
• 1:05:45
  And I just find that absolutely amazing and and really what I
• 1:05:48
  want to talk about, especially considering a new project and
• 1:05:51
  what we try to do here at Simply Bitcoin as well and what we've
• 1:05:54
  noticed in the last couple of years of just the importance of
• 1:05:57
  Bitcoin, only content out there and showing up every day.
• 1:06:01
  And I even told this to Nate earlier and Nico kind of
• 1:06:03
  mentioned as well. Like we never tried to talk
• 1:06:06
  smack on other content creators because I think few people
• 1:06:09
  really understand how hard it is to make content every single day
• 1:06:12
  and show up every single week. And so, you know, kudos to you
• 1:06:15
  Nate, for just like taking it on the chin, starting your own
• 1:06:20
  channel or rather rebooting your old channel and then being like,
• 1:06:23
  look, I'm going to grind this out because I think it's super
• 1:06:26
  important. So maybe just touch on that idea
• 1:06:29
  of like why is it so important to make Bitcoin only content and
• 1:06:32
  continue to just grind it out even though you had so much
• 1:06:35
  success in the past with another company.
• 1:06:39
  I am told I'm I'm really 100% Bitcoin.
• 1:06:42
  And the reason for that is because there's there's nothing
• 1:06:46
  like I can't even see another company or investment that I
• 1:06:49
  would put my value in that's going to keep my value or grow
• 1:06:55
  my value any better than Bitcoin will over the next 10 years.
• 1:06:58
  And I'm a Gen. Xer, so 10 years means I'm
• 1:07:01
  getting pretty close to where I shouldn't be doing a heck of a
• 1:07:04
  lot more after that anyway. It's just there's there's no way
• 1:07:11
  that we cannot understate, you can't overstate the importance
• 1:07:17
  of being able to have the value in your own hands.
• 1:07:22
  I'm and Nico, you said it over and over again and I'll just
• 1:07:25
  echo it. You have to self custody your
• 1:07:28
  Bitcoin. You have to self custody your
• 1:07:30
  Bitcoin. Because if you don't, if you
• 1:07:33
  leave it on an exchange, or if you leave it with an ETF, or if
• 1:07:36
  you leave it with any custodian whatsoever, then you are at risk
• 1:07:41
  to their values. Let me say that again, you are
• 1:07:45
  at risk to somebody else's values when you leave your money
• 1:07:50
  in their hands. That's the importance of
• 1:07:53
  Bitcoin. That's part of what I'm going to
• 1:07:56
  offer at the Bitcoin effect. What?
• 1:07:59
  How? How does that affect us socio
• 1:08:01
  economically? How does that affect us
• 1:08:03
  politically? How does that affect us as a
• 1:08:06
  community and what does that look like under a Bitcoin
• 1:08:09
  standard? That's when I'm going to delve
• 1:08:10
  into in the Bitcoin effect, just even past the weekly news
• 1:08:15
  articles that I'm going to continue to do from a neutral
• 1:08:19
  perspective about Bitcoin. Love it, man.
• 1:08:23
  Love it. OK, let's I'll pull up the
• 1:08:26
  YouTube real quick and then you can kind of go over what what
• 1:08:30
  your schedule would be like. I know you're a one man team
• 1:08:32
  right now, so you're you're going to be grinding it out, but
• 1:08:35
  what what can people expect over here on the Bitcoin effect?
• 1:08:38
  Well it looks like it looks like a one man team right now because
• 1:08:41
  I've got a lot to do as far as the graphics on top.
• 1:08:45
  In just my picture there, I was probably scaring people away but
• 1:08:50
  but what I really wanted to do was offer thumbnails that look
• 1:08:55
  similar to but an upgrade from what we were doing over at 99
• 1:08:58
  bitcoins. Those are the old ones.
• 1:09:00
  But don't don't scroll that, don't do that.
• 1:09:03
  He and I had a conversation a couple of years ago too and I
• 1:09:06
  was, I was, I was glad to have that.
• 1:09:09
  But these are the news that are happening every week and right
• 1:09:13
  here from the studio I'll also be doing things about how to
• 1:09:17
  self custody, how to take money directly from your bank account
• 1:09:20
  into cold storage through the the companies that are offering
• 1:09:23
  that now what? What does it mean to, you know,
• 1:09:28
  what does it mean to spend your Bitcoin?
• 1:09:30
  And let's face it, who? Somebody on your team was doing
• 1:09:34
  a short and they said and they said Michael Saylor's got it
• 1:09:36
  almost quite right, but not but not quite there.
• 1:09:39
  Because if you're 100% Bitcoin, that means you're going to have
• 1:09:42
  to spend your money on your life.
• 1:09:44
  That was a great take. I loved it because it's true and
• 1:09:48
  you have companies that you're able to take your Bitcoin and
• 1:09:51
  make it so that you can buy things in the world with the
• 1:09:54
  value that you've stored. Yes, you're going to have to go
• 1:09:57
  make it again, but that's what life is all about.
• 1:09:59
  But it makes it so that you are must much less likely to just
• 1:10:04
  spend because you know that your money is losing value.
• 1:10:07
  This money doesn't lose value. And so if I ain't got to, if I
• 1:10:09
  don't have to spend it, I know that that value is still there,
• 1:10:12
  if not in greater value when I finally do go to spend it.
• 1:10:17
  Absolutely 100 percent, 100%, man.
• 1:10:19
  Well like guys go check out the Bitcoin effect on YouTube.
• 1:10:24
  Opti has the channel pulled up. Go check out this channel
• 1:10:28
  support. Fellow Bitcoin content creators,
• 1:10:32
  I love that handle that. You're able to get Bitcoin
• 1:10:35
  effect. You can go search it on YouTube,
• 1:10:38
  subscribe and there's not a lot of us.
• 1:10:41
  You would think that there's a lot of us, but there's not a lot
• 1:10:43
  of Bitcoin only content out there.
• 1:10:45
  So support other bit corners that do this.
• 1:10:48
  It's incredibly important, especially if you want to push
• 1:10:51
  that Bitcoin only signal OPTI. Yeah, I mean, I I couldn't agree
• 1:10:56
  more. And usually at the end we give
• 1:10:59
  the the guests the opportunity. What's the last message you want
• 1:11:02
  to leave with the audience, and it could be about following you
• 1:11:06
  or just Bitcoin in general. What's the last message you want
• 1:11:08
  to get across to the audience? The one thing that Bitcoin does
• 1:11:12
  for all of us is allows us to have the values and most
• 1:11:17
  importantly speak the values that we have without worrying
• 1:11:22
  about somebody confiscating our property because of what we say.
• 1:11:26
  That is the American value. That's why that is the First
• 1:11:29
  Amendment. And I know that you have, you
• 1:11:32
  have viewers that are from other countries.
• 1:11:34
  But being an American and knowing that the opportunity to
• 1:11:38
  express myself and my values shouldn't have any censorship,
• 1:11:43
  especially with the value that I've created with my ideas and
• 1:11:47
  my labor. And that's what discourse should
• 1:11:51
  be. Absolutely 100%.
• 1:11:55
  And I think that you can't really have, like you could have
• 1:11:58
  had a version of that, but it's not really the version that we
• 1:12:02
  would want as Americans without Bitcoin.
• 1:12:04
  Like Bitcoin enables that type of discourse.
• 1:12:07
  Bitcoin enables that type of sovereignty.
• 1:12:10
  Bitcoin enables that type of freedom.
• 1:12:12
  Without Bitcoin, I don't think it's possible, right.
• 1:12:15
  So I think it's incredibly, incredibly important.
• 1:12:17
  So anyways, Nate, love to have you on the show today and you
• 1:12:23
  know, guys go check out his channel.
• 1:12:26
  And. And yeah, anyways, getting to
• 1:12:30
  the top of the hour here, guys. If you enjoyed today's show,
• 1:12:33
  make sure to smash that like button.
• 1:12:35
  Consider subscribing to simply Bitcoin if you feel like we
• 1:12:38
  provided you value. But the number one thing you
• 1:12:40
  could do to help push the peaceful Bitcoin revolution
• 1:12:42
  forward is share this type of content.
• 1:12:44
  Share Bitcoin content in general.
• 1:12:46
  That's what we got to do and buckle up 'cause I think still,
• 1:12:50
  I still think we have this crazy, you know, year or two in
• 1:12:53
  front of us, things are heating up politically.
• 1:12:56
  So yeah, it's it's never been a better time to buy Bitcoin, put
• 1:13:00
  into self custody, spread that Bitcoin signal and yeah, this
• 1:13:05
  week, like I said, we're going to be travelling.
• 1:13:06
  So we'll be back tomorrow for the live show, then we'll be,
• 1:13:09
  we'll be in Canada starting Wednesday.
• 1:13:12
  I think we'll be doing the show from Canada on Wednesday and
• 1:13:15
  we'll be there for the Canadian Bitcoin conference, which is
• 1:13:18
  going to be freaking awesome. And we're going to be live
• 1:13:21
  streaming the conference for you guys starting Friday.
• 1:13:24
  So it's going to be a great show, great, great rest of the
• 1:13:27
  week and we'll be getting you guys interviews, panels, all
• 1:13:30
  that good stuff that you guys like.
• 1:13:33
  And we'll be back tomorrow for a brand new episode of Simply
• 1:13:36
  Bitcoin Live. I'm your host, Nico.
• 1:13:38
  It's my legendary Co host Optimus Fields and our guest
• 1:13:41
  today, Nate Martin. All right, everybody, Take it
• 1:13:43
  easy. This episode was brought to you
• 1:13:47
  by bitcoinwell.com on a mission to enable independence.