Latest / Simply Bitcoin / EP379 The Fed Battles Wyoming on Bitcoin Banks

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EP379 The Fed Battles Wyoming on Bitcoin Banks · Simply Bitcoin

• 0:00
  Welcome back everyone. We're simply Bitcoin.
• 0:02
  This is the weekend recap. We break down the news from
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  Twitter. The daily fail mean review.
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  Software releases Hardware releases the websites by plebs.
• 0:11
  We are going to The Numbers, let's do it.
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  Number time is brought to you by Bitcoin 2022.
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  It's going to be hosted in sunny, sunny Miami beach, but
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• 0:33
  At the time of this recording, the block height is seven
• 0:35
  hundred and twelve thousand, seven hundred ninety the Bitcoin
• 0:38
  price 49,000. 260 chain rewrite days 813 total public lightning
• 0:44
  capacity, 3270 2.47 Moscow time 20, 30 blocks to the having 120
• 0:52
  7210. Well, there's some good numbers,
• 0:57
  there's some good news, good news is The block height made
• 1:01
  another all-time high and we got the stack.
• 1:05
  I am completely out of dry powder which is which is
• 1:09
  horrible. I've actually never been so low
• 1:11
  on dry powder. So man, I've been out of powder
• 1:14
  for all for a minute now. Phil I know no pity for me a
• 1:18
  minute but yam it steady for me. This was it was another man this
• 1:23
  is what Bitcoin does, it don't call it the Bitcoin roller
• 1:26
  coaster for no reason. It you pay every Optional toll
• 1:31
  for houghtaling, that's the price of Bitcoin.
• 1:33
  But Phil I got some actual signal as to what the fuck
• 1:39
  happened anyways. Well nice nice.
• 1:42
  Let me pull it up. Going to talk about some some
• 1:44
  liquidations we are going to talk about some liquidations,
• 1:47
  check this out, total liquidations don't leverage
• 1:51
  ladies and gentlemen, this is what happens, the last 24 hours,
• 1:57
  two point five nine, Million dollars were liquidated.
• 2:03
  Got some more stats and this is a Catlin long just trying to set
• 2:07
  up the vonti Bitcoin Bank in Wyoming she talks about what
• 2:12
  exactly happened. Leverage draw Downs could be
• 2:14
  brutally Swift but here's the benefit.
• 2:17
  Check this out. Fill Bitcoin has no lender of
• 2:20
  Last Resort to bail out, intermediaries, or stabilize its
• 2:23
  price. This is a feature, not a bug.
• 2:26
  They help keep Bitcoins interest rate.
• 2:29
  Pure Unaffected by built-up circulation credit which is
• 2:33
  being liquidated today, right? So this is actual capitalism.
• 2:38
  This is the actual markets reacting.
• 2:41
  They don't do that in the stock market anymore.
• 2:43
  I think there's like a lever that gets switched and stuff.
• 2:46
  Yeah. So you saw they yeah they have a
• 2:50
  like they actually do have a free estimate call is like
• 2:53
  actually do have a kill switch. Yeah so they will halt the
• 2:56
  market if it dips too much or something like that and they'll
• 2:59
  you know, allow it time to call. Quote, settle.
• 3:01
  This is pure capitalism, right? This is legit, there's no one to
• 3:05
  stop this, right? It's just, it just rates.
• 3:08
  Now, there's a silver lining. Let's check that this check that
• 3:12
  out. This is a tweet from glass node
• 3:14
  Bitcoin, Futures markets, have experienced a significant
• 3:17
  deleveraging event, check that out.
• 3:19
  Now, ladies and gentlemen, what this is is it's a clear out.
• 3:23
  We're clearing the gunk out. The speculators got wrecked in
• 3:28
  the short and long. Positions, leverage Long's, they
• 3:32
  got out, they got kicked out, they got kicked out.
• 3:35
  Look at that, Phil total, total Massacre, and that's a good
• 3:39
  thing. You want those speculators out
• 3:41
  because when the price recovers, right?
• 3:44
  It's going to be built on actual you know spot Bitcoin purchases
• 3:49
  rather than this leverage BS. Right.
• 3:51
  And here is a last data point. It is by T XM C trades.
• 3:56
  Great YouTube channel, highly recommend it yesterday's
• 3:59
  liquidation. Cade was the second-largest Day
• 4:02
  event and of 2021 and Bitcoin terms bested only by the May
• 4:08
  19th crash. You guys all remember, that that
• 4:10
  was brutal, right? And here it is, right?
• 4:13
  Check this out, check this chart out, right?
• 4:16
  That's a lot of freaking Bitcoin, dude, total total total
• 4:21
  meltdown, but again, this is what I was telling you feel,
• 4:23
  this is the market healing itself, and I think Atwood long
• 4:27
  had an amazing point, which was Dude, this is what a free market
• 4:32
  is supposed to deal with. This is this is what it's
• 4:34
  supposed to be like, right? Without any type of government
• 4:37
  intervention, trying to stop the price, stop trading stock
• 4:41
  trading, you know, and that's what it is and it's clearing out
• 4:45
  the speculation. It's clearing out the junk it's
• 4:48
  clearing out the gamblers bro. That's exactly what they did.
• 4:52
  A whale I'm assuming Saul that. They saw all the leverage
• 4:55
  positions and you know what they did.
• 4:57
  They dumped it to liquidate those positions.
• 5:00
  That's exactly what happened and that's what caused this massive
• 5:03
  dunk dump. Let's see what happens next.
• 5:06
  Phil man, I'm sorry I was looking for a tweet because
• 5:09
  there was a tweet from a Bitcoin or I think that said that they
• 5:11
  had they had like a stop loss or something like that at some
• 5:15
  point and they got stopped out so they ended up losing like 1.6
• 5:18
  Bitcoin. 01 .88 I saw that point a that, okay.
• 5:22
  Yeah. Oh my gosh, man.
• 5:23
  That's it's just so rough, you know?
• 5:26
  And it's like you know and for those of us that just, you know,
• 5:28
  we do not have, you know that Capital to stack, massive
• 5:31
  amounts of Bitcoin. Like, 1.6 takes a long tour. 1.8
• 5:35
  takes a long time to re accumulate, so that is just
• 5:39
  look. You know what?
• 5:40
  Don't don't play on the exchanges.
• 5:42
  I mean, this is look, you're not gonna beat the algorithms,
• 5:45
  you're not going to beat the whales, okay?
• 5:46
  Like this is not the this is not the battlefield that you want to
• 5:49
  be playing on just just stacking hottel, stacking hottel and and
• 5:53
  you know, like not Odell says, you know, you stay humble, you
• 5:56
  keep your head down, you keep researching about Bitcoin and
• 5:58
  you build your conviction so that Stuff like this happens.
• 6:01
  You don't even Flinch. Like pretty much when this, when
• 6:03
  this happens, all that happens to me is that I get upset that I
• 6:06
  don't have more dry powder. Say that's all that happens.
• 6:09
  Like it's the only reaction, I don't sit there and go.
• 6:11
  Oh no. Oh that's it.
• 6:12
  We're done. I'm like all that happens is oh
• 6:15
  no, I don't have any dry powder for this.
• 6:18
  Like I'm not saying again, like I'm not advocating that you go
• 6:20
  out and do that, but I'm just saying like that's my reaction,
• 6:23
  you know? And that's because of my
• 6:24
  conviction level and that's because where I'm at.
• 6:26
  So what do you think about all the speculators?
• 6:30
  Getting cleaned out that's healthy.
• 6:31
  Yeah, I totally think that's healthy.
• 6:33
  I think that's yeah. Sorry, I didn't bring that up
• 6:35
  but yeah, I know. You're absolutely right.
• 6:37
  You know, like look at the end of the day, right?
• 6:39
  Like those people, they're just adding noise like they're adding
• 6:42
  noise to the price granted. I understand that to a certain
• 6:45
  extent a healthy Market of course must include all actors.
• 6:49
  Right like that. That's just the way it works.
• 6:51
  You need, you know, you just need to have everybody there so.
• 6:54
  But yeah, I absolutely think it's healthy.
• 6:56
  And look when we go to 100K. Do we want to bring?
• 6:58
  You know, do we necessarily want to bring those people?
• 7:00
  Man, I don't know exactly. You don't want it.
• 7:02
  I must leave really want to be there.
• 7:04
  You don't want to bring this, they're gonna huddle, they're
• 7:06
  right, they're gonna buy it spot, right?
• 7:08
  You don't want to bring all those fucking all that leverage
• 7:11
  speculation along the ride. So I completely agree with you,
• 7:14
  man. This is, this is what free
• 7:16
  markets are supposed to be like, but we've just been operating in
• 7:20
  this, like, a due date. I don't know what else, what
• 7:23
  other words, so use this socialized free market where
• 7:28
  it's like, you know, there's too big, too.
• 7:30
  I fail bailout if they make too big of a mistake, but this is
• 7:33
  Bitcoin. It's exactly what Catlin long
• 7:35
  said. There's no one to bail you out,
• 7:37
  bro. Okay, you know, I just want to
• 7:40
  add one last point. I did see another tweet from
• 7:42
  from some, you know, from some no coin or guy that was
• 7:45
  essentially, you know, bashing about the fact that there was a
• 7:48
  25% drop in Bitcoin and, and to your point, right?
• 7:52
  Volatility is not a bug, it's a feature, okay?
• 7:56
  This is part of it. This is what a real Market is
• 7:58
  like, okay, and not only that, We are experiencing an emerging
• 8:02
  asset going through its Market cycles.
• 8:05
  Look, if you don't appreciate that, that's your freakin
• 8:07
  problem. Wasn't a shit corner.
• 8:09
  It was Jim Craner. He's like this is too much.
• 8:11
  Let's go. Another 25 percent correct.
• 8:20
  You you're never gonna be a currency that's not stable and
• 8:23
  and okay, what are you using? What are you using?
• 8:26
  Have we not been getting poorer. What?
• 8:27
  Just, because just because everything that we make is
• 8:30
  Jeepers and crappier you think that your life is better.
• 8:33
  Well that's like these people are just being Hypocrites.
• 8:35
  Like that's don't be a hypocrite.
• 8:37
  That's the scam with Fiat Phil. It's that like it steals from
• 8:40
  you just so slightly for you not to notice like that 2%, I feel
• 8:45
  like they found that number. Like this is a magic number
• 8:47
  because they won't notice that we're still here from them, you
• 8:50
  know. So like it's just it's just so
• 8:52
  stupid. Like all of them.
• 8:53
  There's such Hypocrites. All of them.
• 8:55
  Dude. It's like this could never be a
• 8:57
  currency. It's like, but it goes up.
• 9:00
  Your currency goes. Okay, fine, it's slow but it's
• 9:04
  slowly steals from you versus Bitcoin.
• 9:06
  Yeah. So Nicolas, let me ask you this.
• 9:08
  If I, if I wanted to buy something off of you, and send
• 9:11
  you a bit and and offer you Bitcoin, what would you accept
• 9:14
  it? Absolutely.
• 9:15
  Freaking lutely. I would.
• 9:16
  Okay I would do the same. Bingo we have a currency.
• 9:20
  That's it. We're willing to accept it from
• 9:22
  each other. I think that's it.
• 9:24
  We're willing to accept it and trade.
• 9:25
  I don't see what else matters. You know, like we're are we both
• 9:28
  accept the volatility of Of it. We understand, it's proposition.
• 9:32
  We understand what it means to us.
• 9:34
  That's it. Anyways, these guys are fools
• 9:36
  and they are going to totally sound like cavemen one day,
• 9:39
  dude, dude, I'm telling you like, I'm pretty sure there's a
• 9:43
  lock Peter Schiff and insane, asylum, because he's just been
• 9:47
  screaming at this is not gonna go to zero.
• 9:51
  It's like meanwhile, 50 thousand percent up like in this hose.
• 9:54
  This is gonna go to zero, like come on man.
• 9:56
  I have no love for Jim Cramer. I have zero love for Jim Cramer.
• 9:59
  I've, uh, But I okay, I have pounded on this drum, like my
• 10:02
  whole life about Jim Cramer, he has deceived investors for so
• 10:07
  long. Okay, and strictly because of
• 10:09
  MasterCard and Visa right? Because I understand those
• 10:12
  companies proposition so. Well, I remember this guy and
• 10:15
  like, obviously I'm the old guy here so I can go back to this
• 10:17
  like 15 years ago. He was sitting there telling
• 10:20
  people, MasterCards overvalued. This was Mastercard at $40 per
• 10:23
  share, mind you, okay? And Visa had just come out on
• 10:25
  the mark there. Overvalued other laid in and
• 10:28
  dead and blah blah blah and all this.
• 10:30
  Stuff. And in the meantime both of them
• 10:31
  went on to destroy the averages because duh um, look at all the
• 10:36
  money printing. Do you not think that all of
• 10:38
  these transaction value volumes are just going to go up and
• 10:41
  who's making all these transactions?
• 10:42
  And who owns all these networks? Like you're such a piece of crap
• 10:46
  and then all of a sudden MasterCard gets to like 300
• 10:49
  bucks and it had split already or something like that or it was
• 10:51
  about to split and then he's sitting there and he's like you
• 10:54
  know those our good-byes like you are such a prick like About
• 11:00
  its man, he comes from those people.
• 11:02
  You don't think like like dude he was literally he was telling
• 11:05
  people not to buy those bags. In order to tell people to buy
• 11:09
  those bags, he was the original simple answer.
• 11:14
  He was original influencer before the Windsor.
• 11:17
  It was the first influence, the first influencer before there
• 11:20
  was YouTube, there was Jim Cramer, but anyway, it's true.
• 11:24
  Okay, it's true. But anyways, Phil, it's time for
• 11:27
  the daily fail. The daily We fail is brought to
• 11:31
  you by Amber app. Check them out.
• 11:33
  Amber dot app, it's Bitcoin, Made Easy, the easiest way to
• 11:36
  buy Bitcoin. The link is down below, ditched
• 11:39
  me for Nico, and then I didn't get to see you all weekend.
• 11:42
  Nakum, yellow. I'm so glad you're back.
• 11:44
  I'm Boomer smart. Wait, stop sounds as I was
• 11:48
  discussing with Nico. I did have another small little
• 11:52
  laughing fail for all of us with the, with the n ftes and
• 11:55
  essentially, some guy talking about how he's getting loaded
• 11:58
  off and left, he's walking. A giant hallway of screens with
• 12:02
  his and ft's on the wall. Anyways, it was pretty cringe
• 12:07
  but unfortunately, we can't show that.
• 12:08
  So we are going to dive right into this fail, which is the bit
• 12:14
  Mart hack, what happened to bit marked and of course I dug into
• 12:19
  this. And yeah you're going to see
• 12:22
  some pretty interesting stuff with bit marked and how it's
• 12:25
  kind of like a bit of a circle jerk of money.
• 12:27
  Anyways, I know we're all very surprised by that.
• 12:30
  But it's always nice to see anyways, right?
• 12:32
  It's always it's like validation, you're like, oh that
• 12:34
  again. Okay, here we go.
• 12:36
  Crypto exchange bit, more it confirms hack.
• 12:37
  Resulting in loss of 150 million inch it coins and Bitcoin.
• 12:42
  Here we go. Crypto exchange bit March said
• 12:44
  late Saturday that it had suffered.
• 12:45
  A hack resulting in the loss of 150 million worth of bitcoin and
• 12:49
  shit coins, founder and CEO Sheldon's.
• 12:51
  Yeah. Or seeya later, confirmed, the
• 12:55
  incident writing on Twitter, we have identified a large-scale
• 12:58
  security breach. Later to one of our eith hot
• 13:02
  wallets and one of our BSC hot wallets.
• 13:05
  At this moment, we are still concluding, the possible methods
• 13:08
  used the hackers were able to withdraw assets of the value of
• 13:12
  a proximately, 150 million u.s. cion on to write that the
• 13:18
  exchanges conducting a thorough Security review.
• 13:22
  And that all withdrawals are suspended until further notice,
• 13:25
  that's right, not your keys, not your coin.
• 13:27
  So, if you've got a bunch of, you know, if you had a bunch of
• 13:28
  money on bit marked, You're on. Hold, that's, that's some scary
• 13:33
  stuff. So, right now, your money is
• 13:34
  being held hostage, but if you're used to the banking
• 13:36
  system, probably used to this, the money being held hostage.
• 13:40
  Anyways, I know they actually let us withdraw it and use it
• 13:43
  but still at 7:30 p.m. UTC, Peck shield, first note is
• 13:48
  Peck Shield, right? We all remember them right
• 13:49
  there. The famous auditing firm.
• 13:51
  Yeah. Don't worry, you'll see some
• 13:52
  other auditing firms. That are going to look familiar
• 13:54
  later on. Anyways, first noticed an
• 13:56
  excessive amount of outbound transfers.
• 13:58
  It found that a range of Kids had been sent out of bit marked
• 14:02
  spot wallet starting at 4:30 p.m.
• 14:04
  Eastern Standard Time. These tokens included large
• 14:07
  amounts of mean tokens, like Sheba plus half a million
• 14:10
  dollars in stable coin USD. See, okay, so let's take a look
• 14:16
  at this date. December 4th this.
• 14:19
  This exchange got hacked for 150 million dollars.
• 14:22
  Let's go take a look at bit marked.
• 14:23
  We went to app deals there. Cayman Islands company.
• 14:27
  Hmm, right. And you can't see you can't see.
• 14:30
  See anything about them? Okay, okay, fine.
• 14:32
  So I couldn't see anything about them.
• 14:35
  So we're going to go, you know, hop on over to their website.
• 14:38
  It's the most trusted, crypto currency, trading, platform,
• 14:39
  Nico, like suggest everyone the most trusted name in news, it's
• 14:44
  the most trusted name in news right there.
• 14:46
  And this is the most trusted cryptocurrency platform Eco.
• 14:48
  So we obviously have no idea what we're talking about.
• 14:50
  But anyways, we're going to continue on.
• 14:52
  So, interestingly enough, it was very difficult to find very much
• 14:55
  about this company, at all, just, you know, digging around
• 14:58
  online but still, I highlighted for everybody.
• 15:00
  The about us, the partners and this amplio capital, This is
• 15:05
  interesting amplio Capital, but anyways, we're going to, we're
• 15:08
  going to hop on over first to the about us because these are,
• 15:10
  these are all important things that we're going to put together
• 15:11
  for the story. The priorities.
• 15:15
  Okay, it's their priorities guys.
• 15:18
  Just want everybody to note trustworthy trust.
• 15:22
  As of the fundamental of the financial system in the core of
• 15:24
  the decentralized token economy, we fully understand all that.
• 15:27
  The challenges that the cryptocurrency ecosystem is
• 15:29
  facing two. Hence, we are committed into
• 15:31
  compliance, reliability, Security, customer care, and to
• 15:35
  deliver a seamless user experience.
• 15:37
  Built on troops here. I say something.
• 15:40
  Hold out, go back. Go back to go back to that day.
• 15:43
  NG hot dude. Okay trust as of the fundamental
• 15:49
  fundamental Financial system. Soto she said, that is the
• 15:53
  problem with set. Your Vex is the fact that you
• 15:56
  have to trust them, right? Bitcoin, fixes his and the cord
• 16:00
  to the decentralized Token economy, there it is, a Freudian
• 16:04
  slip. Trust is the core to the
• 16:07
  decentralized Token economy. That's a fucking Paradox that
• 16:12
  contradicts itself. So it's a so-so Defy is based on
• 16:16
  trust. It's not really decentralized
• 16:18
  Finance, then Bitcoin. There is no trust the trust is
• 16:21
  minimized. Anyways I'm sorry for that.
• 16:23
  No no great. But you see like isn't it
• 16:25
  wonderful? How it's all just words like
• 16:27
  they just put words like it's just words.
• 16:29
  That's it's like we're the most trusted platform.
• 16:31
  Boom, our priority is trustworthiness, doesn't matter
• 16:33
  hundred fifty million dollar hack.
• 16:35
  But wait, this is the exact opposite of what Bitcoin
• 16:39
  represents exact opposite there is in Bitcoin.
• 16:43
  Oin ever the incentives. Aligned, there isn't, there's no
• 16:46
  trust required, right? If I send you a transaction
• 16:49
  Phil, you don't have to trust me.
• 16:51
  I send you the TX. You either know, you got it or
• 16:54
  you don't my bright and with this, you know, there you go.
• 16:57
  You trust somebody, you got 150 million dollars, stolen anyways.
• 17:01
  And, and guess what if your funds didn't get stolen well,
• 17:03
  too bad. They're frozen because my
• 17:06
  investigations. There you go.
• 17:07
  Gotta deal with the investigation.
• 17:09
  Sorry, your money's Frozen too bad for you.
• 17:11
  Alright next right. Let's keep going.
• 17:13
  Going. This is their partner portal.
• 17:16
  I love the partnership parade. This is the partnership parade.
• 17:20
  Look at this. You know who sir tick is?
• 17:22
  Certain is another one of those auditing firms.
• 17:24
  This is a partner. This is a partner Nico to an
• 17:27
  exchange that's just got hacked 450 million dollars.
• 17:30
  So baek Shields went and explained about it, right?
• 17:33
  But one of their one of their Partners, right at the top is
• 17:36
  certificate. Which provides auditing
• 17:38
  services. And nobody nobody caught any of
• 17:42
  that stuff. Look at look at this Quant stamp
• 17:44
  which is a shit coin and provides auditing services.
• 17:48
  I don't know why in auditing service requires to be money,
• 17:51
  but for some reason Quant stamp has, you know, cross that.
• 17:56
  That bridge. So, like look at this.
• 18:00
  These are all the partners men. Water Partners a lot of shit
• 18:05
  going Partners, right? The partnership parade.
• 18:08
  This helps with the validation because you come over, you take
• 18:10
  a look at this and you say to yourself.
• 18:12
  You know what? This is trustworthy.
• 18:13
  Look at all of these people. Look at all these companies.
• 18:16
  Okay, fine. So the last piece was amplio
• 18:19
  Capital, which is really kind of interesting amplio Capital.
• 18:24
  So I go to their Twitter. And there really isn't much
• 18:27
  about them that they don't have a website or anything like that,
• 18:30
  but I find this tweet from Sheldon from from, from Sheldon,
• 18:33
  Sia which is, you know, the CEO of bit Mars, right?
• 18:39
  The CEO and co-founder of bit marked check this out.
• 18:42
  November 29th. Do you remember that date of the
• 18:44
  hack? The date of the article December
• 18:46
  4th November 29th? Thanks to the support of
• 18:50
  Alexander Capital, Ventures Alpha Square group.
• 18:52
  And Chaos Ventures will continue to improve user experience and
• 18:55
  create value for the Mystery. We'd also like to thank all of
• 18:58
  our bit Mark community members and BMX holders Nico.
• 19:00
  What WTF am I talking about did Martin Oz serious?
• 19:05
  Be raised. So they announced a raise and
• 19:08
  four days later. They got hacked for 150 million
• 19:12
  dollars. So when you actually go click on
• 19:16
  the this this amplify, what are they called?
• 19:19
  Again the amplio capital link, okay?
• 19:22
  It brings you to this bit. Mart Labs been marred Labs is an
• 19:27
  international blockchain. Incubation platform launched by
• 19:30
  the premier Global digital asset trading platform.
• 19:33
  Bit marked bit Mark cooperates with world's top funds and
• 19:36
  providing a variety of powerful services including Technical and
• 19:39
  marketing solutions for high quality projects.
• 19:44
  So as to help the development and incubation of potential
• 19:47
  projects, bit more Labs is dedicated to selecting quality
• 19:50
  projects with the strictest standards and an elevating them
• 19:53
  to the next level. So this is like a marketing arm
• 19:56
  that somehow invests in bit marked that bit Mart, invests in
• 20:03
  very weird stuff too. So, so hold on a second.
• 20:05
  So then I was able to go On Cyber Hunter and just find this
• 20:09
  amplio. Capital research is an
• 20:11
  international Venture Capital powered by bit more.
• 20:14
  That's what I just told you. So somehow, they're like, going
• 20:18
  around in circles with the money, B Marks going into am Bo
• 20:23
  Capital. But amplio capitals going into
• 20:25
  into B Mart, right? Because they're marketing.
• 20:30
  B, Mart. Sue their marketing, their
• 20:33
  marketing arm of the same company, but they're not the
• 20:35
  same company. Anyways, dude, I this stuff gets
• 20:38
  really confusing. There are so many different
• 20:41
  players. I feel like there's this like
• 20:42
  whole Shady layer that like we just don't see anything about I.
• 20:48
  Anyways, we might not be seeing it, but did you keep fucking
• 20:51
  uncapped unraveling that onion, bro?
• 20:55
  Be careful to shit Corners might take you out.
• 20:58
  But yeah, dude, ideas me But dude, that man, that that
• 21:04
  there's some shady stuff going on in there and then four days
• 21:07
  later, you know, convenient fifty million dollar hack
• 21:11
  conveniently 150 million dollar hack.
• 21:14
  And it's like, how do you verify that?
• 21:16
  They really got hacked. Right.
• 21:18
  How do you verify this? Oh, that's right.
• 21:20
  Because you have to trust them because they're the most
• 21:21
  trusted, crypto currency exchange, man.
• 21:25
  Look, the regular top priorities Nico.
• 21:27
  Dude, when you read that top priority and you were reading, I
• 21:30
  was like Can't be Seri because it's like that's literally the
• 21:34
  opposite of what Bitcoin represents Bitcoin, figured out
• 21:39
  how to transact between two parties without a minimal layer
• 21:43
  of trust, right? Like and then they're saying
• 21:46
  that the crypto currency or the decentralized, cryptocurrency,
• 21:50
  the staple is trust. Well, there you go, that's what
• 21:53
  happens when you trust. They were doing it at that in
• 21:56
  the Fiat system, right? The banks are doing that in the
• 21:59
  Fiat system, shit coin exchanges.
• 22:01
  Are doing it now. And you know what, Phil, that is
• 22:04
  some really shady stuff because they marketed it as if it was
• 22:08
  like an independent, like rays of money, but if you dig deep
• 22:13
  into it, it's by themselves. You know, it's like, what is
• 22:18
  going on there? And it's like, and they don't
• 22:20
  really advertise it a lot because if they did, they would
• 22:23
  have it more. They would have more Twitter
• 22:24
  followers. So I think it was just too kind
• 22:28
  of sweep things under the rug. Maybe all I got to say, Who does
• 22:31
  that? That's some very sketchy stuff
• 22:34
  and dude, I'm surprised look all those other exchanges because I
• 22:39
  saw some legit exchanges on that partner list like Gemini.
• 22:42
  They must all be into this dude. In some way or the other, they
• 22:46
  must benefit from the Chicago Winery.
• 22:50
  It's a giant circle jerk, and we're not invited.
• 22:55
  Yeah, apparently, dude. But wow.
• 22:57
  Wow. Don't, you don't want the truth.
• 22:59
  Tellers in those circles. We're no fun at these.
• 23:01
  At ease. Do you know where we're no fun
• 23:04
  while you're trying to pitch your shit coin?
• 23:06
  This is so sketchy, man. That is some sketchy, sketchy
• 23:09
  sketchy stuff by the way, guys, we always provide our sources
• 23:14
  down below, so make sure to double check it yourself because
• 23:18
  I'm just an all as you guys are. This is the first time here
• 23:21
  about it. Holy crap.
• 23:22
  Phil man, Phil the shit coin exchange Slayer.
• 23:27
  But anyways fell, it's time for the Daily Review.
• 23:31
  Hey We mean review is sponsored by Citadel 21.
• 23:34
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• 23:37
  It's different artwork every volume.
• 23:40
  But be quick because there's only 1000 copies made per volume
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  their scarce. Anyways, get your copy of
• 23:45
  Citadel 21 today. All right guys, the first beam
• 23:49
  you're gonna have to forgive me. Okay.
• 23:51
  Is this isn't necessarily a Bitcoin meme?
• 23:54
  But it was that funny. So I wanted to cover it.
• 23:57
  Anyways. Stock Traders.
• 24:00
  Crypto Traders, replace that put Bitcoin.
• 24:03
  Okay, use your imagination. 40%. It's true dude.
• 24:07
  And it's exactly what we were talking about earlier Phil,
• 24:09
  where it's like this is the socialized unknown free market
• 24:15
  and doesn't that look like Paul Krugman.
• 24:17
  It does actually kind of look like Krugman so what's going on
• 24:20
  here? And then you know, this is
• 24:22
  bitcoiners just kind of laughing, right?
• 24:24
  But Bitcoin is would have the laser eyes there.
• 24:26
  He's gonna have fun state board. That 40% is never kind of come
• 24:29
  back up. Anyways, Next one, it's by Leo,
• 24:32
  te strike back. I think they killed the other
• 24:35
  Liotta. So they go to his accounts
• 24:37
  layout is back again. Anyways, it's the sheep and the
• 24:41
  only big pointer in the Sheep. Absolutely hilarious.
• 24:45
  Moving on. To the next one, it is by Louis
• 24:49
  and reminder. Reminder, guys, the printer is
• 24:53
  coming and that's Jerome highlight, the ones Arbor winter
• 24:57
  of Burr and the last but not least It Is by Ivan alley like a
• 25:03
  boss and it's named buchelli, buying 150, Bitcoin, on a phone.
• 25:08
  We're gonna get to that in the news in a second, but absolutely
• 25:11
  phenomenal memes. And I had to pull up the crypto
• 25:16
  Trader one because it was so funny.
• 25:18
  It's so true. I just hope a Bitcoin ER would
• 25:21
  come up with it. Anyways for those memes Phil I'm
• 25:24
  going to give it a 3D printed note case that I got from crypto
• 25:29
  cloaks that I got from my girlfriend, right?
• 25:31
  So it's nice and pink. It's cool.
• 25:33
  He's when I gave it to her, she was like, thank you, I guess.
• 25:40
  Anyway. So what would you give those
• 25:42
  memes? It's definitely, it's definitely
• 25:45
  not the gift that they were looking for, right?
• 25:48
  The, the we're looking for a different gift.
• 25:50
  I was told I was like, this is your own bank.
• 25:52
  This is it right here. She's like, does it have
• 25:55
  diamonds? And I'm like no, it's this is
• 25:57
  sovereignty. And she's like, what this is
• 26:00
  this is Isn't a Louis. This isn't that, that's not,
• 26:03
  that's not what you were supposed to get anyways.
• 26:07
  Okay, so those are great memes and I'm going to give it this
• 26:13
  very specialized. One of my best friends gave me
• 26:15
  this screwdriver many years ago and I have used it ever since.
• 26:21
  It's very special, it's l-tron Electronics.
• 26:26
  And if, you know, you know, but it's a two-sided, right?
• 26:29
  It's a two-sided screwdriver. So you've got both going on
• 26:32
  there. Phenomenal.
• 26:34
  Phenomenal. Very, very good utility.
• 26:37
  I don't think I could do that. Great.
• 26:39
  Great scores know it was pretty killer.
• 26:43
  Yeah, I thought so too. I thought so City kill.
• 26:45
  That's a to that. I gave it to my girlfriend.
• 26:47
  She's like to her dude. I gave it to her like two or
• 26:50
  three weeks ago. I got so excited when I told
• 26:53
  her, she got excited about it. She's like, oh my God, you I
• 26:55
  mean not good and then when I showed it to her, she was like,
• 26:57
  oh, okay, you know, and I told us I can help, I'll help you
• 27:02
  build it and stuff, you know like it looks pretty nice, bro.
• 27:05
  What if you gave it running like what if you put the Raspberry Pi
• 27:08
  in there? Got it all set up everything,
• 27:10
  all she had to do was power it up and then go through the
• 27:12
  initial setup process, you would probably have no idea what it
• 27:15
  is. Yeah, but she thanked me anyway,
• 27:17
  so that was nice. Anyways guys, saw that counts.
• 27:20
  It is a Dodge described. That is a dance concert, guys,
• 27:23
  follow us on Rumble follows Bitcoin TV.
• 27:26
  Yes, remember we post Monday through Saturday rain or shine
• 27:31
  unless we specifically tell you we're not going to post on
• 27:33
  Twitter. So if you don't find us on
• 27:35
  YouTube one day and we didn't tell you about it, find us on
• 27:40
  Rumble, find us on bitcoin TV and of course all the plat for
• 27:43
  all the podcast platforms. Also.
• 27:45
  But anyways Phil it's time for it's time for the Daily News.
• 27:49
  The Daily News is brought to you by crypto.
• 27:51
  Cloaks.com, they make the best 3D printed Bitcoin merch like
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  stuff and you can take advantage of the link down below for 5%
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  off crypto cloaks.com all right check out this tweet from our
• 28:12
  friends at Bitcoin magazine and this is the very very famous
• 28:16
  economist Milton Friedman and apparently he was predicting
• 28:20
  Bitcoin back in 1999. I haven't seen this video but I
• 28:24
  thought you guys would I find it interesting.
• 28:26
  Anyways, let's check it out. So that I think that the
• 28:28
  internet is going to be one of the major forces for reducing
• 28:33
  the role of government. The one thing that's missing but
• 28:37
  that will soon be developed is a reliable Akash a method whereby
• 28:42
  on the internet, you can transfer funds from A to B
• 28:46
  without a knowing b or B knowing a so that I so that's actually
• 28:51
  fascinating because I remember this Riff on this a little bit.
• 28:55
  It, that is exactly what the thesis of the sovereign
• 28:58
  individual was right. Like, he made, they made the
• 29:01
  same decision, the same thesis, which is essentially his
• 29:05
  argument, instead of the internet was that semiconductors
• 29:08
  would essentially make government's role in people's
• 29:13
  lives, less and less, and less, and it would Empower
• 29:17
  individuals. Now, the only missing piece was
• 29:20
  Bitcoin, right? Was our ability to transact with
• 29:23
  each other because think about it, like, Able to talk with each
• 29:26
  other, which I think that's kind of the reason that a lot of
• 29:29
  these Legacy Media institutions are freaking out the way they
• 29:33
  are like, think about it. They're trying to pitch you, the
• 29:36
  official narrative on the current thing that's happening
• 29:39
  in the world right now. But on Twitter you're kind of
• 29:42
  seeing the truth, right? So it's like one things, the
• 29:45
  official narrative, one things, the truth and now kind of apply
• 29:48
  that to money as well, right? They want you to use the
• 29:51
  official money but then there's another money on the side.
• 29:54
  So, and I think I think Adam back actually touched upon this
• 29:57
  when he when the came on the show which was I don't think
• 30:01
  that the government's are the nation states of the last
• 30:04
  century we're ever going to survive the internet and I think
• 30:07
  that that we're kind of transitioning into a new era of
• 30:12
  freedom and individualism, right?
• 30:14
  The likes of which we've never seen before and I think that the
• 30:18
  fact that, you know, Bitcoin and Powers the individual so much to
• 30:24
  not only vote. With their wallet but also vote
• 30:27
  with their feet, right? The fact that you could store
• 30:30
  trillions of dollars in your mind by memorizing, a 12 word
• 30:33
  seed, phrase and then send it to anybody.
• 30:35
  You want is incredibly empowering and I don't think we
• 30:40
  know the full implications of that.
• 30:41
  But dude, the sovereign individual nailed it and now of
• 30:45
  really famous economist, but he was like, I like Milton
• 30:48
  Friedman's tanks. Anyways, for, what are your
• 30:50
  thoughts? So, they've created essentially
• 30:53
  they've created a system of Control that would work
• 30:56
  fantastically if the internet didn't exist.
• 31:00
  Like they got this thing, right? Like, they were like, you know,
• 31:03
  finally, it's like they, they're like, all right, we got this
• 31:06
  thing right. But unfortunately, the whole
• 31:09
  landscape has moved out from under them.
• 31:11
  You know, how we've said that many times, right?
• 31:13
  Like that's the problem, right? It's this whole thing, there's
• 31:16
  they're trying to Frankenstein this system together and it
• 31:19
  doesn't work right? Like the internet.
• 31:21
  I know that the internet has all these different agencies and
• 31:24
  then and This different stuff. But at the end of the day,
• 31:27
  right? All of these things.
• 31:29
  Did not stop tour, right? They didn't stop the Nutella
• 31:33
  Network like they didn't stop. All of these things, they're not
• 31:37
  stopping Bitcoin, you know. Like it's like, it kind of
• 31:41
  remind it kind of reminds me, interestingly enough.
• 31:43
  It's like the I don't know if it's not the ghost in the
• 31:46
  machine but essentially it's like You know, now that they've
• 31:51
  creat now that these ecosystems exist, there's these organisms
• 31:55
  that are being born that they can't stop.
• 31:57
  Yep. Right.
• 31:58
  Like an end. That's what's happening.
• 31:59
  It's like, you know, Bitcoin is like, is the first one we're
• 32:02
  addressing, you know, money is being addressed, you know, like
• 32:05
  it's like, boom, that's it. You know, this organism is born
• 32:07
  it exists, and here it goes. It's just going to suck up all
• 32:10
  the value. Because it has all the correct
• 32:13
  properties. And so they don't know what they
• 32:15
  don't know how to deal with it. No, because again, they created
• 32:18
  a system for 1920, man. They would be fantastic right
• 32:21
  now. If listen, if we could go back
• 32:24
  to nineteen cents, what 1950? Yeah, around 1950.
• 32:29
  They'd be all set. Like we go back to 1950 right
• 32:32
  now. They've got the TV.
• 32:33
  They've got the radio. You'd all you have is the
• 32:36
  official narrative. You got the newspaper, boom.
• 32:39
  This is it, man. But what else?
• 32:42
  Free and they don't know how to deal with it.
• 32:44
  Dude. It's like we got a sensor this
• 32:45
  person and then another lawyer would a cow pops up.
• 32:48
  It's like you delete me. Another one comes up with the
• 32:50
  laser eyes. It's like, man.
• 32:52
  It's crazy man. It's like, it's like it's this
• 32:56
  decentralized. Immune system that just pops out
• 33:00
  and then you add Bitcoin into the mix, which actually empowers
• 33:04
  people, man. And then you get a lot of brave
• 33:06
  people that are willing to stand up to the system and say, no, I
• 33:09
  don't want to participate. And if you mess, With me too
• 33:12
  much. I'm just going to move to El
• 33:14
  Salvador, you know, like it's man it crazy times.
• 33:17
  But anyways I just thought that was neat.
• 33:19
  Actually moving on to the actual news.
• 33:21
  Now, check out this tweet by 19 buchelli.
• 33:24
  This is exact kind of talking about what we were talking about
• 33:27
  just now about how the internet really changed everything
• 33:30
  before. This would have been an official
• 33:32
  release. No, this is the president of a
• 33:35
  country saying El Salvador. Just bought the dip 150 coins at
• 33:39
  an average USD prize. Of 48,000 670.
• 33:44
  How much do you think this piss? The people at the IMF that
• 33:47
  thought they built a perfect system?
• 33:49
  But unfortunately, it's not the 1950s.
• 33:51
  How much do you think this puts them off?
• 33:53
  Phil. Yeah, this definitely pissed
• 33:56
  them off and he continued to troll them.
• 33:58
  Yeah, look, you did, he put out some other ones?
• 34:00
  Look, there's a lot more, dip something.
• 34:02
  How much taxpayer money do you intend to waste?
• 34:04
  We've already. We've already in the green from
• 34:06
  our last purchase and less than 24 hours.
• 34:09
  You know. Boomer we have And of 100 and
• 34:12
  144,000 hundred and six ounces of gold.
• 34:15
  In our reserves were 79 million down .37 from a year ago.
• 34:21
  If we had sold it a year ago and bought Bitcoin, it would now be
• 34:24
  valued at 204 million. This, this is what we're talking
• 34:29
  about when this is what we're talking about, how the internet
• 34:34
  and how the internet is this. It's a threat to the
• 34:36
  establishment, dude, this is just one big middle finger, you
• 34:40
  know, it's like yeah. Yeah.
• 34:42
  Screw you. You know, and what could what
• 34:43
  could they do? You know, are they going to
• 34:45
  censor Morrow, but we already know what they're doing.
• 34:47
  They're calling nine buchelli a dictator.
• 34:49
  That's what they're trying to do, right?
• 34:51
  It's so crazy man. Okay, anyways, last tweet, do
• 34:55
  you think? Yeah, grades for the country on
• 34:56
  his laptop phone. Man, if this is exactly what
• 35:01
  we're talking about, dude bonded to this, and we'll where's this
• 35:04
  me, like right? Yeah, right.
• 35:07
  This is him at the United Nations, just laughing buying
• 35:09
  Bitcoin, man. Absolutely hilarious.
• 35:12
  And look, this goes back to what we were talking about.
• 35:14
  Feel like dude, this is the new age Pro, you have a president of
• 35:18
  a country. Essentially, giving the middle
• 35:20
  finger to these Antiquated institutions just saying dupe.
• 35:25
  F you guys. I have better money and you
• 35:27
  can't fuck with me anymore. Or like, dude, it's it's
• 35:31
  freaking crazy i-i'm all struck. I just don't have words for
• 35:35
  this. A president of a country.
• 35:38
  Okay. Wrecked Peter Schiff on Twitter.
• 35:44
  And we are laughing about this. Like, this is, this is the
• 35:47
  reality. This is the reality tunnel we're
• 35:49
  in right now, dude. Okay.
• 35:50
  And he's not, not only that he bought the fucking dip.
• 35:55
  He bought the dip. No.
• 35:56
  But there's even another tweet where he, where he tweeted that
• 35:59
  he was upset that he missed the yeah minutes.
• 36:04
  So this guy is sitting there, he's watching frickin
• 36:07
  tradingview, okay? And he's and he's and he's
• 36:10
  buying the dip for the country. I want.
• 36:13
  I want people to understand Exactly what's happening right
• 36:16
  now, they have no chance. They have no chance.
• 36:19
  They have zero chance. This is so empowering.
• 36:22
  Imagine not have to go not having to go through this giant
• 36:26
  circle jerk. Okay?
• 36:27
  Of all these suits to go and, and make your Investments like
• 36:32
  these people? Yeah.
• 36:34
  You all of a sudden you're gonna have to figure out how to offer
• 36:36
  real value. That that's right.
• 36:37
  Sitting behind a mahogany desk staring at a ticker tape is just
• 36:41
  not providing value anymore. Sorry, not sorry.
• 36:44
  Yeah. You know, like do did they did
• 36:47
  it, they can't compete with this.
• 36:49
  What are they going to do? Like, what could you offer man?
• 36:52
  And honestly felt like time was it when he bought the dip?
• 36:55
  We should figure that out. Like was he like half asleep?
• 36:57
  And was like, oh my God, there's a Bitcoin dim sleep.
• 37:01
  He's sitting there in his presidential Palace.
• 37:03
  Slick! Oh shit pick on felt.
• 37:07
  Welcome up Sir the dip it's happening now.
• 37:12
  So So go fuck man but look let's connect this all talking aside,
• 37:19
  joking aside let's connect this alternate right?
• 37:22
  Like look you have the internet which was the first move, right?
• 37:27
  The internet allowed people to communicate freely with each
• 37:31
  other in Mass, right? And then you add Bitcoin, right?
• 37:35
  It's the disintermediation of information and the distance
• 37:39
  remediation of money, right? And what I suspect Phil is that
• 37:43
  what we're seeing right now is the last grasp at
• 37:48
  centralization, right? In order for these governments
• 37:51
  to maintain their power, they're trying to centralize and
• 37:55
  centralize and centralize more to try to get one last grasp
• 38:00
  over their population, bro. I really think that this is all
• 38:04
  all this is about. I think they know, I think they
• 38:07
  know the gig is up. I think that they know the money
• 38:09
  printer gig is up. I think that they know that the
• 38:12
  sensor is filled, So she could only work for so long.
• 38:16
  Okay? Like it only works for so long
• 38:18
  and if you don't completely sensor there's always a hint of
• 38:22
  Truth coming out of the woodwork.
• 38:24
  Right? And they go they can't write.
• 38:26
  So man, it's exactly what Adam back was saying.
• 38:29
  I think, Max Keiser said this as well right which is like look
• 38:33
  the internet started, the fire and then Bitcoin just put a tank
• 38:38
  of gasoline on that fire of the nation-state, right?
• 38:41
  So I think that's what we're seeing and I think that we're
• 38:43
  heading in Into a man, a Renaissance of some sort of
• 38:47
  human Freedom, the likes of which we have never seen before.
• 38:51
  And I suspect, that's why most bitcoiners.
• 38:55
  I talked to Phil our Rich stream, Lee optimistic about the
• 38:58
  future, because we know what the world's under a Bitcoin
• 39:03
  standard, what the possibilities of that world would be like,
• 39:07
  based on what Bitcoin has done for us on an individual basis?
• 39:12
  Not only from a monetary Perspective.
• 39:15
  But also from a psychological perspective, Bro, think about
• 39:18
  it, most of the world is still living in the Fiat mindset.
• 39:22
  Dude, we are, we are living through.
• 39:25
  So, this is the thing, right? Like, I used to sit there and
• 39:27
  wonder like why why isn't banking friendly or right?
• 39:30
  Why isn't banking better? And I forget who it was that
• 39:33
  said this to me, but, but they said it cuts.
• 39:36
  It need to be, they have no competition.
• 39:39
  There's no competition. They don't need to be better,
• 39:41
  they get to do whatever they want.
• 39:44
  It doesn't matter that there's competing Banks.
• 39:46
  They're all using the same crappy landscape.
• 39:48
  They're all using the same Antiquated system and frankly,
• 39:51
  they've got no reason to upgrade that shit.
• 39:54
  We are we are totally held by the balls, excuse my language.
• 39:57
  That's exactly what it is. Like we've got nothing, you
• 40:01
  know, we there's nothing else we can do, right?
• 40:03
  When you store your money in that and not only that, but if
• 40:05
  you're buying stocks, even you know, if your 401ks stuff like
• 40:08
  that. It's the same type of thing,
• 40:10
  like I that's the feeling I always had like, even, you know,
• 40:13
  with a company 401K your you're a hostage, you know, you don't
• 40:17
  just get to pull your money out. You have to take a loan against
• 40:19
  your money, or you have to pay a penalty.
• 40:21
  Why the hell would I have to pay a tax on?
• 40:23
  Something that I earned that I chose to store?
• 40:26
  That's psychotic nonsense. And we all agree with it.
• 40:30
  That's completely insane. Yep.
• 40:33
  Okay, but now as you know, we have Bitcoin and now, hey, guess
• 40:38
  what? We don't have to be prisoners.
• 40:42
  We we truly don't write part of the, the double-edged sword.
• 40:46
  Yes. You're your own bank, right?
• 40:48
  It comes with it, its responsibilities, but at the
• 40:50
  same time, you're your own freakin Bank.
• 40:53
  Absolutely. It's, you know it's crazy.
• 40:57
  But anyways look we made a lot of claims which is you know the
• 41:01
  old system, right? The Establishment that
• 41:03
  institutions are fearful of this new transition.
• 41:06
  But Phil I got some receipts to back that up, check it, check
• 41:11
  this out. Check out this article from our
• 41:14
  favorite Senator Senator Cynthia.
• 41:16
  Lummis of Wyoming. The Fad battles Wyoming on
• 41:21
  bitcoin and shit coins anyways. The Federal Reserve has an
• 41:24
  extraordinary responsibilities to ensure a healthy economy in
• 41:27
  sound financial system for all Americans.
• 41:30
  That's the issue right there. That's the issue that first
• 41:33
  sentence is the issue. Why should a group of elite
• 41:36
  people have all that power Bitcoin fixes that without
• 41:40
  anybody having anybody controlling it?
• 41:42
  Anyone dictating the rules, right?
• 41:44
  Anyways, unfortunately, over the past year, my faith in the FED
• 41:48
  has been deeply shaken by its political approach to digital
• 41:52
  assets, in my home state, Wyoming greatly contributing to
• 41:55
  my concerns over President Biden's nominees.
• 41:58
  Jay Powell and let Lael Barnard sorry I can't pronounce that
• 42:03
  anyways and yeah I just want to add one thing if you go back.
• 42:06
  Upright. If you scroll back up, look at
• 42:09
  the no. Sorry and I'm sorry in the in
• 42:12
  the paragraph that you had, the Federal Reserve has an
• 42:14
  extraordinary responsibilities replace that word with power has
• 42:18
  extraordinary power to ensure like it's they use the word
• 42:22
  response. Responsibility on purpose.
• 42:25
  Okay? And it's to create a certain
• 42:27
  sense, right? Absolutely.
• 42:30
  They're giving you that the mother father state, right?
• 42:32
  We're taking care of you were responsible.
• 42:35
  Yep. Sorry continue.
• 42:37
  Know you spot on very good, very astute observation.
• 42:40
  Phil anyways, in thank you 2019. Wyoming began integrating
• 42:44
  digital assets including Bitcoin and shit coins into the US
• 42:47
  banking system state legislators wrote bills addressing issues
• 42:51
  from asset custody too much. Laundry as a part.
• 42:54
  As a part of this effort, they created a heavily regulated
• 42:58
  Bank. The special-purpose depository
• 43:01
  institution or SPD is Wyoming checked every box holding more
• 43:07
  than 100 meetings. With the Board of Governors and
• 43:09
  Federal Reserve Bank of Kansas City.
• 43:11
  The FED even provided input into cotton to Wyoming's.
• 43:15
  Comprehensive regulatory framework, as did Promontory
• 43:20
  Financial Group is an SPI. SPD is a bank without a doubt.
• 43:25
  It's eligible for Deposit Insurance, receives deposits
• 43:29
  relating to custodial and fiduciary activities meeting the
• 43:32
  standard Congress set down in the Federal Reserve Act, for
• 43:35
  what constitutes, a bank should SPD eyes have payment system,
• 43:40
  access, absolutely, Wyoming Incorporated, every principle
• 43:44
  for multiple fed, guidance documents.
• 43:46
  So, let me translate with that means.
• 43:48
  If that means that the FED is actively and what Cynthia lummis
• 43:52
  had to Say politically not wanting to incorporate Bitcoin
• 43:58
  into the traditional Financial system.
• 44:01
  That sounds very familiar especially if you've listening
• 44:04
  to that to this show, right? Even though they checked all the
• 44:07
  boxes, the FED still doesn't want to play along with Bitcoin
• 44:11
  and she coins, you know. So you know who else took that
• 44:14
  stance? The world bank, right?
• 44:18
  Bitcoin must be accepted by World Bank according to Charter
• 44:21
  but you know what? The World Bank is an accepting
• 44:24
  Bitcoin even though it's in its own Charter.
• 44:26
  And this happened back in June 17, 20 21, the World Bank has
• 44:31
  poured cold water and El Salvador's adoption of Bitcoin
• 44:33
  is legal tender saying it cannot support the move due to
• 44:37
  environmental and transparency concerns BS.
• 44:40
  However, he however, its founding document and in the
• 44:44
  1944. Or articles of agreement.
• 44:46
  Outlines the procedures and principles by which the World
• 44:49
  Bank pledges to engage with Sovereign governments.
• 44:51
  A central theme in the document, is its commitment to accept
• 44:55
  payments from member states and local currencies.
• 44:58
  The bank shall accept from any member in place of any part of
• 45:03
  the members currency, so the World Bank is not following
• 45:05
  their own rules. You know, who else is not
• 45:07
  following the world rules, the fed, the FED doesn't seem to
• 45:11
  care. However, to Wyoming, SPD is SPD
• 45:15
  is guys. Basically means a bit coin bank,
• 45:17
  right? Cracking it, Avanti Avanti ziz
• 45:20
  Catlin, Long's attempts, we read you a tweet about her before
• 45:23
  when we were talking about the leverage situation, receive
• 45:25
  their Bank charters in 2020. They applied for master accounts
• 45:29
  with the Federal Reserve Bank of Kansas silly shortly.
• 45:32
  Shortly after over a year later the FED hasn't processed hasn't
• 45:35
  started processing. These applications indicating,
• 45:38
  it's still determining whether Bitcoin banks are banks, which
• 45:41
  is not a serious, serious legal question.
• 45:45
  In fact, act sounds very familiar to what the World Bank
• 45:48
  is doing. In fact, the FED is violating
• 45:50
  the law by delaying in 1994 Congress required.
• 45:54
  The FED to act on all applications.
• 45:55
  Within one year, numerous federal courts, have stated that
• 45:59
  the FED has a duty to give Payment Systems access to all
• 46:02
  banks and Credit. Unions unions conducting illegal
• 46:05
  activities. The FED itself has set, its
• 46:07
  payment services will be available to all depository
• 46:11
  institutions on an equitable basis and an atmosphere of If
• 46:16
  fairness, let me read you the charter from the World Bank.
• 46:20
  Also, the bank shall accept from any member in place any of any
• 46:25
  part of the members currency. So, the fed and the World Bank
• 46:29
  are not following their own goddamn laws when it comes to
• 46:33
  accepting Bitcoin in the traditional Legacy system.
• 46:37
  Now, why is this good news? Because this means they're
• 46:40
  fucking scared shitless. That's what it means, right?
• 46:44
  So again, I what we told you guys, they're not going to play
• 46:47
  by the rules, which is connect this.
• 46:49
  What we were talking about with Milton Friedman, right?
• 46:51
  Dude. They don't want to let go of
• 46:53
  that power. They built a very nice moat.
• 46:56
  They thought that moat was never going to be overcome and the
• 46:59
  Bitcoin just built a better system outside of that moat,
• 47:03
  they're freaking out, they don't know what to do.
• 47:05
  This is gonna be a hell of a fight.
• 47:07
  But honestly I see this as really, really bullish news
• 47:11
  because if they weren't scared of it, they've already would
• 47:14
  have accepted it if the World Bank wasn't scared of it.
• 47:17
  They already would have accepted it but to quote Christine
• 47:20
  lagarde's own words. Bitcoin is not the currency.
• 47:25
  Right? So again, these people are
• 47:27
  hypocrites. They're not concerned about the
• 47:30
  public, they're concerned about protecting their own castle,
• 47:34
  that they thought it was going to last forever.
• 47:36
  But this is very nice to see Phil, man.
• 47:40
  I love the way you put that story together.
• 47:42
  Look the met. This is the medicine.
• 47:44
  They do not want to take. I mean, like, you can see that
• 47:46
  look at that like they do not want to accept it but yet on for
• 47:50
  and but let me ask you this, right?
• 47:51
  Who's to challenge them right? Like look, they're not accepting
• 47:55
  it. We just showed you just showed
• 47:56
  right there. The FED Reserve isn't even
• 47:58
  processing you know cracking order of on can I show you?
• 48:01
  Can I show you a challenge before you from?
• 48:03
  Oh yeah, absolutely. That's the challenge.
• 48:09
  No, but this is my, but this is my point that.
• 48:11
  No, but this is, this is my point though, right?
• 48:13
  Like, like that is the challenge.
• 48:15
  But look, what's cracking. And Avanti to do right there,
• 48:19
  trying to get this, this ridiculous Bank Charter, right?
• 48:21
  Like this seems important to them.
• 48:23
  So it's just, it's nonsense. Like, they have litter.
• 48:27
  They have totally hit a wall. Like, who does the FED answer to
• 48:30
  this? Is my point.
• 48:31
  Who does the FED answer to? The FED doesn't answer to the
• 48:35
  government. So I just, you know, this is
• 48:40
  like to your point, man, you know, like they've lost.
• 48:44
  They don't know, they don't know what to do and this is the
• 48:46
  medicine. If they look, they lose, okay?
• 48:50
  If they accept Bitcoin, then then that's it.
• 48:53
  At that point that that just shows that they've now validated
• 48:56
  everything. Yes right.
• 48:58
  Okay. And if they continue to fight
• 49:00
  Bitcoin they can they essentially expose themselves as
• 49:04
  the as the frauds they are the essentially the monetary frauds
• 49:07
  they are And big. So when will keep working
• 49:09
  outside of the sixth or seventh chords are list of what they do.
• 49:12
  So there's stuck between a rock and a hard place.
• 49:15
  What are they gonna do, dude? But you can undo button it would
• 49:18
  be a coincidence if it was just the World Bank doing that.
• 49:22
  But the fact that it's the Federal Reserve and the World
• 49:26
  Bank taking the same stance on bitcoin and you look at their
• 49:30
  that look at the World Bank its transparency and environmental
• 49:33
  reasons transparency. So you're saying that Bitcoin is
• 49:37
  not more Then what's going on in the back doors of central
• 49:40
  bank's, right? So it's a transparent.
• 49:42
  Financial Ledger known to man. Man, it's apparently not
• 49:46
  transparent enough. Did we catch him red-handed or
• 49:48
  what? Phil, I think we found a Smoking
• 49:50
  Gun. And I was waiting to cover that
• 49:52
  article because I was like, it's too much of a coincidence.
• 49:54
  If we just find one, right? But the fact that the fed and
• 49:58
  the World Bank are taking the same stance which is like, even
• 50:02
  though your currency even though your legal tender even though
• 50:06
  Avanti and Kraken checked, All the boxes, followed all the
• 50:09
  regulations. You still can't play.
• 50:12
  Like, dude, that tells me that they're absolutely petrified.
• 50:15
  They're scared, they don't know how to kill the honey badger.
• 50:18
  They just want it to go away. I think they thought for a long
• 50:21
  time if they just ignored it would go away if they pulled an
• 50:24
  ostrich, right? But dude man you guys are going
• 50:27
  to have to suck it up eventually if not what's going to happen is
• 50:31
  more people are going to opt out of the system and just not
• 50:34
  participate in your system whatsoever.
• 50:38
  They don't they don't get to win.
• 50:39
  It's what you always say. They don't get to win this in
• 50:41
  the end though. That man, beautiful.
• 50:45
  Beautiful man, frickin you first got together, frickin crazy.
• 50:49
  But anyways, Phil there was an open source software released
• 50:51
  today, why don't you tell everybody about it software
• 50:53
  releases? The software releases are
• 50:56
  brought to you by Cipher safe, check them out.
• 50:59
  Cipher safe dot IO, definitely the best place to store your
• 51:04
  seed in the Cipher wheel, fire proof waterproof, the link is
• 51:08
  down below. All right, we've got BTC pay
• 51:11
  server version. 1.3. 0.6. The link is down below.
• 51:16
  Don't forget for audio. Only check us out.
• 51:20
  Anchor, Apple podcast Spotify. We are there.
• 51:24
  Awesome. Thank you Phil.
• 51:25
  All right, guys, that was our show.
• 51:28
  You enjoyed the show you what to do screen and if you want to
• 51:31
  continue hearing the catastrophic males from the shit
• 51:33
  coin shit going exchanges, Central bank's all the above in
• 51:36
  the Bitcoin. Use from the planet perspective
• 51:38
  definitely consider subscribing and we'll see you tomorrow guys
• 51:41
  for a brand new episode. I'm simply Bitcoin.
• 51:43
  The central Bankers mote is getting smaller.