Latest / Simply Bitcoin / What is Bitcoin's Full Potential Valuation? | EP 996

Transcript

What is Bitcoin's Full Potential Valuation? | EP 996 · Simply Bitcoin

• 0:02
  It's all going to zero against Bitcoin.
• 0:06
  It's going up forever. You're.
• 0:15
  Against Bitcoin, you're against freedom yo.
• 0:22
  Welcome to Simba Bitcoin live, your number one source for the
• 0:24
  peaceful Bitcoin revolution. Recovery can use culture.
• 0:27
  Dramatic warfare will be your guide through the separation of
• 0:29
  money and state. Ladies and gentlemen, sit back,
• 0:31
  relax, enjoy the ride. Welcome to Simba Bitcoin live,
• 0:34
  the most watched daily Bitcoin only live show on YouTube Rumble
• 0:38
  and X. We have a ton to unpack today.
• 0:41
  Actually, this is a topic that you guys absolutely love so we
• 0:44
  like to cover it 'cause you guys love it when we cover it, which
• 0:47
  is the question what is bitcoins full potential valuation and
• 0:52
  it's really interesting because this is something that went it
• 0:56
  you can go back all the way to Bitcoin's early days.
• 1:01
  It is actually the legendary Hal Finney that brought this up in
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  one of his, you know, one of his original post on the Bitcoin
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  forums, that legendary website, bitcointalk.org.
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  And it's just interesting to see kind of this being talked about
• 1:18
  again, today's article that we're going to cover
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  specifically one written by Jesse Myers when he comes to
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  that same conclusion, that same number as it relates to dollars,
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  obviously Bitcoin's going to go up forever.
• 1:30
  But as it relates to the total addressable market, like there
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  is, I wouldn't say a cap supply, but there's obviously going to
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  be a percentage of which people are going to feel comfortable
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  allocating to Bitcoin too. Now it, it, it now talk about,
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  let's talk about all the assets for a second, right?
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  Bitcoin, in my opinion, superior to gold, right?
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  There's an inflation rate to gold.
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  You don't know how much gold is in the ground.
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  You don't know how much gold is floating in outer space.
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  So there's an inflation rate to gold.
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  Real estate, which is, you know, real estate has a premium all
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  over, all over the United States, all over the world, as
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  people try to maintain their purchasing power, they buy a
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  piece of real estate. But fundamentally, you still
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  have to pay rent to the government, right?
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  Even if you own your house, you still have to pay property tax,
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  right? Bitcoin is really the only asset
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  that has absolute scarcity, right?
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  There's there will only ever be 21 million.
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  That inflation rate gets cut in half every four years.
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  And as of now, you don't have to pay, you know, a property tax to
• 2:37
  the government for owning Bitcoin, which I mean, I think
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  would be absurd. I think that's definitely
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  something that, you know, they might talk about in the future,
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  but as of now that's not the case.
• 2:49
  Also, in other news, I really believe this is something that
• 2:52
  we've been talking about the last three days or so.
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  I really believed that this fight for self custody and the
• 3:01
  regulatory and fight in the United States was going to be a
• 3:04
  lot tougher. I'll be honest with you.
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  Just all the things that the current administration was doing
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  in the background, the proposed 30% tax for Bitcoin miners, the
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  demonization of of self custody, right, the arrest of Bitcoin
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  privacy developers and Bitcoin O GS right.
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  But all of a sudden it seems like they did a 180.
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  And the reason that I believe that happened was because of how
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  unpopular that is for their political base.
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  And we are in an election year. So, you know, if the key
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  demographic doesn't really support you being quote UN quote
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  anti Bitcoin, that's a problem. And now that you know, the
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  'cause you know, in the United States the way it is, is a two
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  party system, right? You have the opposing a
• 3:51
  political opponent saying, you know, actually, we're going to
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  be pro Bitcoin, pro crypto. That kind of creates a
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  situation, right? So it seems like they did a 180
• 4:01
  and the fit 21 bill passed in the House of Representatives.
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  But I also have to give a shout out to the major Democratic
• 4:12
  support that came out because it wasn't just a Republican bill
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  that passed. There was a a big percentage of
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  Democrats that went across run across the aisle and also
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  supported the bill as well. And after all, I really believe
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  Bitcoin is bipartisan. Bitcoin supports everyone.
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  You know, it gives people in in countries where normally they
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  wouldn't be able to open a bank account just because of the of
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  the place that they happen to be born in.
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  Bitcoin gives them an opportunity, right?
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  So, you know, in terms of equality, in terms of equity, I
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  think Bitcoin is the the, you know, the best tool ever, right?
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  So I don't think this should be a partisan issue.
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  It became one a little bit, but it seems like that is slowly
• 4:56
  changing. And also you have Brad Sherman.
• 4:58
  Brad Sherman is infamous for saying, you know, we're the US
• 5:01
  government. We can print money, but everyone
• 5:03
  else can't because you're not the government.
• 5:05
  He had an absolute meltdown in Congress yesterday, kind of
• 5:10
  saying a lot of the quiet parts out loud.
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  And but he was, it wasn't the own that he thinks it was, but
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  basically saying like, look, like we're the dollar, we have
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  the ability to do these things, you know, these, these, you
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  know, these alternative currencies or our competition to
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  the dollar. And like Larry Leopard commented
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  absolute savage saying, Yep, Congressman, that's the entire
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  point, like laughing. So it's, you know, it's
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  absolutely hilarious. But you know, this is great.
• 5:43
  This is great news from a regulatory perspective in the
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  United States, 100%. And also a little bit of news
• 5:51
  for you guys. We've we've been trying to cover
• 5:52
  for the last couple days. We've just ran out of time is
• 5:55
  the Julian Assange case, which of course, it's something that
• 5:59
  you know, whole, it's very dear to us.
• 6:02
  Because I do believe that the fight for freedom of speech is
• 6:05
  like the front line for the fight for Bitcoin.
• 6:08
  If, if you think that they're not, and if they're going to be
• 6:10
  OK with you transacting freely, if, if they're not OK with you
• 6:15
  speaking freely, then you know, I, I don't think your, I don't
• 6:18
  think your head's in the right place.
• 6:20
  So it's really important. And any type of news that comes,
• 6:23
  comes up in regards to Ross Aldridge or Julian Assange, you
• 6:27
  know, we cover it. We like to stay on top of it on
• 6:29
  this show. So it's going to be a great
• 6:30
  show. And also we have an incredibly
• 6:32
  special guest, a huge fan of her work.
• 6:35
  I've never had the honor to have her on the show before.
• 6:38
  And of course I'm talking Anita Posh.
• 6:40
  Posh. Did I say that?
• 6:41
  Is that did I say that correctly?
• 6:43
  Absolutely correctly. Hi, great to be here.
• 6:47
  Well, thank you so much for coming on the show.
• 6:49
  Anita is the founder of. I just had it pulled up and I
• 6:55
  completely pulled it down and I'm.
• 6:59
  It's an nonprofit initiative called Bitcoin for Fairness.
• 7:04
  And could you give a little bit about, could you give like a
• 7:07
  little elevator pitch on what that is?
• 7:10
  OK, sure. So I started Bitcoin for
• 7:14
  Fairness two or three years ago because in an attempt to bring
• 7:20
  Bitcoin grassroots education and support for local groups to
• 7:25
  African countries is because I believe that Bitcoin is actually
• 7:31
  the only money that can give bring equality and more fairness
• 7:37
  to the world through the fact that it's permission less and
• 7:41
  can't be censored. And since like 55% of the global
• 7:46
  population live in authoritarian ruled countries and most of
• 7:50
  those people are in African countries, I thought it's the
• 7:54
  best to begin there. And so I've been in Zimbabwe and
• 7:59
  in the in the sub-saharan area of Africa in the last couple of
• 8:04
  years, in total like 1 1/2 years.
• 8:07
  And yeah, we had quite some successes, but also very
• 8:12
  challenging situations there. And that's the the goal of
• 8:16
  Bitcoin for Fairness is to bring Bitcoin education and awareness
• 8:21
  to all places basically and mostly those in the global S
• 8:25
  one. 100% And I, I fundamentally agree with you.
• 8:29
  I think in the global, in the global S specifically Bitcoin, I
• 8:34
  would say is a necessity, right? I think a lot of us in the West,
• 8:39
  we have the financial privilege of having relatively stable Fiat
• 8:43
  currencies that allow us to transact, not to mention the
• 8:47
  fact that the political situations are a little bit more
• 8:50
  stable as well. But not that not not everyone
• 8:54
  has that privilege. You know, I'm, I'm originally
• 8:56
  from Venezuela myself, right? This is a country that endured,
• 9:00
  you know, hyperinflation. Argentina, of course, the, the
• 9:04
  nations of, you know, of many nations in Africa as well.
• 9:08
  So is, is this something that people have to understand,
• 9:11
  right. Bitcoin is for them, like
• 9:13
  Bitcoin for them, It completely changes the conversation.
• 9:17
  It allows them to save, it allows them to transact without
• 9:21
  fear of persecution, without fear of currency debasement.
• 9:24
  So it's an absolute game changer for for people of the global S
• 9:31
  100% agree with you and I'm very excited to hear more about it
• 9:35
  during the culture segment. What your initiatives have been,
• 9:38
  what your projects have been in the global SI do want to bring
• 9:41
  up my legendary Co host. Always optimistic giant smile on
• 9:45
  his face today. How you doing Opti?
• 9:47
  That was the that was the hat that we got in El Salvador
• 9:49
  right, The Viva Bitcoin yeah, I mean I gave you the black one
• 9:53
  and the white one. I I I don't really I don't
• 9:56
  really wear hats, but shout out to the Viva Bitcoin guys.
• 9:59
  They're absolutely awesome. The jerseys that you guys gave
• 10:02
  us were dope. I man, I don't have it with me,
• 10:05
  but we should show it off for you guys.
• 10:07
  But but yeah man, how you doing Opti?
• 10:09
  I'm doing wonderful man life on the Bitcoin standard.
• 10:12
  Life is a Bitcoiner is great. It it couldn't it couldn't get
• 10:15
  better. Well, it could probably get a
• 10:17
  little bit better. And I think we're seeing we're
• 10:19
  seeing that it's starting to change in our favor.
• 10:22
  But before we go on, I I have to give a huge shout out to my
• 10:26
  favorite politician, Brad Sherman.
• 10:27
  He's the only politician that actually gets what's going on
• 10:30
  and I absolutely love it when we get new sound bites from him.
• 10:33
  So this this is great. I I get giddy when we get Brad
• 10:37
  Sherman on the show because it's so amazing.
• 10:39
  We need, we need an IRL with Brad Sherman.
• 10:41
  Nico, you and Brad Sherman. That'd be amazing.
• 10:44
  Man, I don't know if you would agree to that, but yeah, that
• 10:46
  would be epic content, that absolute meltdown.
• 10:49
  Anyways, guys, if you guys are enjoying the show so far, smash
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  the like button. Help us break 100 likes within
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  the first hour of the show. Really, really helps with the
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  algo. So if you're watching us on
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  Tells the algos to push the orange signal forward anyways
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  guys sit back relax. We got loads of info tons of
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  Bitcoin signal for you guys before we jump to it.
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  bitcoinwell.com. All right, everybody, let's hit
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  Stamp Seed website. At the time of recording the
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  Bitcoin price is 68,060 SAT's per dollar 1469 block height
• 14:48
  844,769 blocks to having 205,231 having estimate March 22nd 2028
• 14:58
  Total lightning network capacity 4674 Bitcoin capacity value $318
• 15:06
  million realized monetary inflation 1.65%.
• 15:11
  The market capitalization of Bitcoin is currently at 1.34
• 15:14
  trillion. Bitcoin verse gold market cap
• 15:18
  8.23%. In the grand scheme of things,
• 15:22
  we are just getting started. Anyways, this is what I want to
• 15:26
  talk about during the numbers today.
• 15:28
  Historic in terms of the regulatory environment here in
• 15:32
  the United States, companies getting more regulatory clarity,
• 15:36
  but it's a shame that it needed to get political in order for
• 15:40
  these things to happen. It's a shame that, you know, a
• 15:44
  certain political candidates started to like put their arms
• 15:46
  up in there and say, listen, you know what?
• 15:48
  I'm pro Bitcoin, Elizabeth Warren taking the I'm going to
• 15:53
  build an anti, you know, crypto army.
• 15:55
  Like what? Like why?
• 15:57
  Like, you know, and, and, and it's such a shame too, because I
• 16:00
  remember Elizabeth Warren was part of the whole Occupy Wall
• 16:03
  Street movement. And like, what happened?
• 16:06
  Like, did the, you know, did she become part of Wall Street?
• 16:09
  Did Wall Street start paying her off?
• 16:10
  I don't understand, because look, fundamentally we all have
• 16:13
  to understand that like, look, Bitcoin is, is apolitical.
• 16:18
  It supports everyone, but you know who it doesn't support?
• 16:21
  It doesn't support tyrants, right?
• 16:24
  So anyone who's against freedom, anyone who's against the
• 16:28
  individual being able to hold and earn in the money that they
• 16:31
  can't debase and confiscate easily is fundamentally against
• 16:35
  Bitcoin, full stop. Anyways, So for audio listeners,
• 16:39
  the name of the article is U.S. House Approves crypto fit 21
• 16:43
  bill with wave of Democratic support.
• 16:46
  It goes on to say the crypto industry recorded its biggest
• 16:49
  ever. U.S. policy went on Wednesday
• 16:52
  when the US House of Representatives approved a wide
• 16:55
  reaching bill to establish regulations for digital asset
• 16:58
  markets, recording a 279 to 136 vote that saw Democrats crossing
• 17:05
  party lines to support it. The Financial Innovation and
• 17:08
  Technology for the 21st Century Act marks the first time a major
• 17:12
  crypto bill has cleared one of the chambers of Congress.
• 17:15
  The issue now heads to the US Senate, where its future is much
• 17:19
  murkier because there's no counterpart bill, support for
• 17:22
  such an effort remains unclear and the necessary committee
• 17:26
  committees haven't done the same level of work on crypto.
• 17:29
  The US has fallen behind global jurisdictions in establishing
• 17:32
  crypto regulations and despite when on Wednesday, implementing
• 17:36
  such oversight is far from complete.
• 17:39
  We need rules of the road, said a representative one of the
• 17:44
  Democrats who buckled the opposition of the White House
• 17:47
  and the ranking Democrat on the House Financial Service
• 17:50
  Committee. Representative Maxine Waters, he
• 17:53
  called it well reasoned, thoughtful bipartisan
• 17:55
  legislation and argued before the vote that, quote, it's fit
• 18:00
  to become law if we work together.
• 18:02
  Overall, 71 Democrats and 208 Republicans voted in favor of
• 18:07
  the bill versus 3 Republicans and 133 Democrats who voted
• 18:12
  against it. President Joe Biden opposed the
• 18:14
  bill with a policy statement, though he didn't say he'd veto
• 18:18
  the bill as he had recently when the Congress sought to overturn
• 18:22
  a Securities and Exchange Commission effort to set crypto
• 18:26
  accounting policy. SEC Chairman Gary Genzer also
• 18:29
  came out strongly against the legislation in a lengthy public
• 18:33
  statement, arguing the bill wasn't needed and endangered
• 18:36
  existing securities regulations. So it's just interesting the
• 18:40
  change in change in tune and how it became a a a bipartisan issue
• 18:47
  as as soon as everyone started to see that this wasn't
• 18:50
  necessarily a winning issue from the political side of things,
• 18:55
  especially when a major part of your demographic is extremely
• 18:59
  pro Bitcoin. Here's Brad Sherman, the anti
• 19:02
  Bitcoin House member, and he went absolutely off yesterday
• 19:08
  and you know what a lot of the things that he's saying are
• 19:10
  right, But I don't think this is the own that he thinks it is
• 19:14
  because I don't think a lot of people, I think a lot of people
• 19:17
  have lost faith in the institution of government.
• 19:20
  I think a lot of people have lost faith in this idea that for
• 19:24
  some reason the government should be the only one that has
• 19:27
  the privilege to create money for free.
• 19:30
  You know, and, and, and, and I think a lot of people have lost
• 19:34
  face faith in the existing system, specifically if if
• 19:38
  you're from the younger generations, I mean, you can't
• 19:40
  own a house, you've been out priced of everything.
• 19:43
  They're even telling you, you know, you'll own nothing and be
• 19:46
  happy. So, you know, a lot of the
• 19:48
  things that I think he thinks are and own, I think, you know,
• 19:52
  if it's specifically if, you know, if you haven't benefited
• 19:57
  from this system, you're kind of like, you know, I think it's
• 20:00
  time for a change to be honest. Anyways, let's hear what he has
• 20:03
  to say. It poses, it creates a
• 20:06
  competitor to the US dollar, which has one advantage.
• 20:09
  It's right in the name hidden money.
• 20:12
  Hide your money from the IRS, from our sanctions and borders,
• 20:18
  from every everyone involved in the US government.
• 20:22
  And then finally, crypto declares that it wants to
• 20:25
  partially displace the US dollar as a reserve currency if it's
• 20:30
  successful in that. 30 a different seconds.
• 20:32
  Third additional seconds. The gentleman's recognized.
• 20:34
  You have to understand how important it is.
• 20:37
  We frankly are not fiscally responsible in this House.
• 20:41
  We don't collect near as much taxes as we spend in benefits.
• 20:44
  We're able to do that without too much harm because of the
• 20:48
  role of the US dollar as a as a reserve currency.
• 20:53
  We have fiscal policies that would make Argentina blush, but
• 20:57
  we're able to do it. The crypto Bros see the
• 21:00
  incredible amount of money and power the US government has by
• 21:04
  being the world's reserve currency and they say no, they
• 21:07
  want to appropriate that from themselves.
• 21:11
  I yield back. So I mean, here's here's Larry
• 21:17
  Leopard responding. Yep, Congressman, that's the
• 21:20
  entire point. Muhaha.
• 21:22
  Here's Parman saying ha ha ha. He's comparing themselves to
• 21:26
  Argentina. Wait to set the bar low.
• 21:29
  But I mean, it's interesting because he did say the quiet
• 21:32
  part out loud. He's like look like because
• 21:35
  we're able to print this money. I also want to give a shout out
• 21:38
  to the Super chat by Hamasito. Thank you bro for the for the
• 21:41
  $2.00. Appreciate it.
• 21:43
  But like, I mean, he's saying the quiet part out loud.
• 21:46
  Like what else can I say? Like he's literally saying
• 21:48
  because we have this ability to create money out of nothing,
• 21:52
  because we're the world's reserve currency, we're able to
• 21:55
  spend and pay for things even though we don't have enough
• 21:58
  money in terms of collecting revenue through tax.
• 22:02
  We, that's not enough to, to pay for the bill, but because we're
• 22:06
  the world's reserve currency, we're able to, you know, have
• 22:09
  these, these, we're able to just spend money the way that we were
• 22:14
  doing it. We're able to have these fiscal
• 22:16
  policies, even though we might not necessarily be able to
• 22:19
  afford them. Like he's literally saying the
• 22:21
  quiet part out loud and then he's saying like, you know, the
• 22:24
  quote UN quote, crypto Bros, you know, they, they, they want that
• 22:28
  power for themselves. That's not true, right?
• 22:31
  What Bitcoiners are advocating for is an ecosystem where no one
• 22:35
  has the privilege of being able to create money for free that
• 22:39
  another fellow human being has to work for, right?
• 22:41
  If you want to make more Bitcoin, you have to get in
• 22:43
  line. You have to mine it like
• 22:45
  everybody else. You have to, you have to earn
• 22:47
  it, you have to mine it or you have to buy it, right?
• 22:50
  There is no special privilege of a bureaucratic elite in
• 22:54
  Washington, DC that has the ability to create money out of
• 22:57
  thin air. And what he fails also to
• 23:01
  acknowledge is why was Bitcoin invented?
• 23:04
  I mean, it's literally or discovered depending on the way
• 23:06
  that you're looking at it. It's in the genesis block.
• 23:08
  It says Chancellor on the brink of the 2nd bailout for banks,
• 23:11
  right? Satoshi knew that they were just
• 23:13
  going to keep on printing money. And there are unintended
• 23:16
  consequences of that. I'm sure that most people in DC,
• 23:20
  they come from a place of, you know, they're good, they're
• 23:23
  good-natured. Like they, they want what's
• 23:25
  best. But they're unintended
• 23:27
  consequences to the money printing.
• 23:29
  And what are those unintended consequences?
• 23:31
  The prices of assets go through the roof.
• 23:34
  So if you're in the lower and middle classes and you're living
• 23:37
  paycheck to paycheck or you don't have the means to buy
• 23:41
  assets or save an asset, you're getting absolutely wrecked every
• 23:47
  time they print money. And this is more, this is more
• 23:51
  apparent, like Anita was saying earlier on in the global S,
• 23:55
  right? This is more apparent in
• 23:57
  countries like Argentina. This is more apparent in
• 23:59
  countries like Venezuela. You get absolutely destroyed.
• 24:03
  Bitcoin protects your purchasing power.
• 24:05
  Bitcoin protects your energy in this unconfiscatable,
• 24:09
  undebaseable wealth. That's what we want, right?
• 24:13
  And I don't think that's a bad thing.
• 24:14
  So, you know, I don't think that was the own that Brad Sherman
• 24:19
  thought that was. I think that was a self own if
• 24:23
  anything, because Larry Leopard said it best.
• 24:26
  Like, yeah, absolutely. That's exactly what we want.
• 24:29
  And it's not our fault that they have abused that privilege.
• 24:33
  We the people believed in governments, right?
• 24:37
  And they're the ones that, you know, started politicizing
• 24:41
  money, weaponizing money, and debasing money at the expense of
• 24:46
  the people. And it's really the lower middle
• 24:48
  classes that get affected the most by this irresponsible
• 24:52
  fiscal spending. It's not so much, you know, the
• 24:55
  very wealthy, the very wealthy do have the means to save an
• 24:58
  assets. So asset prices go up for them.
• 25:01
  They, they benefit from that. You can even make an argument
• 25:04
  for that. But it's really the lower and
• 25:06
  middle classes that really get hammered.
• 25:09
  And that's what Bitcoin is for. Bitcoin is for everyone, right?
• 25:12
  Bitcoin is for the people. I would say Bitcoin is the
• 25:15
  people's money. I would say the dollar is the
• 25:17
  politician's money. Anyways, I'm going to pass it on
• 25:20
  to Anita and then Opti. Yeah, I mean, I totally agree
• 25:26
  with what you just said. I mean, the system is built on
• 25:30
  Fiat money and it's built on the organizations that were
• 25:35
  basically set up after the Second World War.
• 25:38
  So when we had the conference in Bretton Woods, when the US was
• 25:43
  the winner of the Second World War, they basically invited old
• 25:50
  white men, have nothing against old white men, OK, But it was
• 25:54
  like 60 white men who from Europe and the US who basically
• 25:59
  decided the fate of the world for the coming 506070 or maybe
• 26:06
  100 years. We don't know how long the
• 26:09
  hegemony of the Petro dollar, Petro dollar is going to last,
• 26:13
  but basically those people started international
• 26:19
  organizations and the financial system of regulations that
• 26:23
  basically is now excluding 2 billion people worldwide because
• 26:29
  they can't have IDs, so they don't have papers, they can't
• 26:33
  KYC themselves or they are too poor to to be have a bank
• 26:38
  account. Or they the banks are not there
• 26:43
  where they live because it's too costly to have a bank somewhere
• 26:48
  out there in the rural region. So basically there are no banks.
• 26:51
  And even more like most people in African countries don't want
• 26:55
  to be in a bank. They don't want to have a bank
• 26:58
  account because they are totally unreliable, very bureaucratic,
• 27:02
  very expensive. And it's basically something
• 27:07
  that happens to everyone and anyone here and there that they
• 27:12
  close your bank account. Yeah.
• 27:13
  And even more if you are in a basically an activists working
• 27:19
  for freedom and against these authoritarian rulers that are
• 27:25
  sitting or having power, holding on to power in many of these
• 27:29
  countries for decades actually. And so that's where Bitcoin
• 27:34
  comes in and where I see, or many of us Bitcoin, I see a
• 27:38
  great potential, but it's also difficult because there have
• 27:45
  been so many scams around Bitcoin.
• 27:48
  Like all shit coiners copy Bitcoin in a way.
• 27:52
  And in the African regions where I have been, the first question
• 27:58
  people asking me is mostly Bitcoin.
• 28:00
  Is it not a scam? Because everyone has been
• 28:04
  scammed in one or the other way. And so there's a lot of
• 28:08
  distrust. And sometimes I, I have the
• 28:11
  feeling that people don't want to use Bitcoin because they
• 28:15
  can't believe it's true and they rather go with what they know.
• 28:20
  So with the problems that Fiat money is bringing them, because
• 28:24
  they are aware of it, they already manage, you know, they,
• 28:27
  they know their ways around and what to do.
• 28:30
  So sometimes I'm, I'm, I'm really, to be honest, a little
• 28:34
  bit disappointed that people don't see the advantages that
• 28:39
  Bitcoin could bring them. And also I have to be quite
• 28:45
  honest about that. I think because we, we think, or
• 28:49
  when before I went to African countries, I really thought,
• 28:53
  yeah, people are using Bitcoin. No, most of them are using USDT.
• 28:56
  Yeah, they want stable coins. For instance, in Zimbabwe, 80%
• 29:02
  of the people who use cryptocurrency use USDT and 20%
• 29:06
  Bitcoin. And so that's also interesting
• 29:12
  because people don't understand it seems that the inflation they
• 29:19
  have on their own money is basically losing them more.
• 29:23
  So they lose more value with the inflation than if they were to
• 29:27
  sit out the volatility of Bitcoin.
• 29:30
  But of course the problem is people can't save like we can.
• 29:33
  So they need to spend immediately or they can't risk
• 29:37
  losing any value because they don't have a lot.
• 29:43
  So there are many, many opportunities and but still the
• 29:49
  system that the US and European countries have built basically
• 29:56
  built on rules that favour them. And also like exactly what Alex
• 30:03
  Gladstein is also always saying, it's a hidden repression with
• 30:07
  all these credit and and loans that the internationally
• 30:12
  Monetary Fund, etcetera, that they are giving to Zambia or
• 30:18
  Zimbabwe or all these countries, they're basically indebting
• 30:23
  those countries. And that's a circular, a deadly
• 30:26
  spiral in a way I would say. And, and on the other hand, I, I
• 30:31
  always say, yeah, but with Bitcoin, those countries, they
• 30:34
  can use their vast natural resources to mine Bitcoin and
• 30:42
  and build their self sovereign monetary bases.
• 30:46
  But I don't think that these governments like in Zimbabwe for
• 30:51
  instance, that they want that because then they would, they
• 30:57
  wouldn't have their own system anymore, the Fiat system with
• 31:01
  which they make their money. So I believe a lot of people
• 31:05
  also in these areas of authoritarian leaderships, they
• 31:11
  use Bitcoin, I'm quite sure about that, but they don't want
• 31:15
  their people to use it, of course.
• 31:17
  Yeah, of course. They actually, Alex Gladstein
• 31:19
  wrote an incredible piece, which is Bitcoin is the Trojan horse
• 31:23
  for freedom. And he was making that that the
• 31:27
  case that, you know, a lot of these authoritarians, they want
• 31:29
  to benefit from number go up technology, but they don't want
• 31:33
  the freedom enabling technology that comes with it.
• 31:36
  But they don't realize that it's inextricably linked.
• 31:39
  You cannot disconnect the two. So yeah, I 100% agree.
• 31:44
  But anyways, let's let's move on to the news Opti.
• 31:48
  We're we're already at the 30 way we can.
• 31:50
  I can I just say that I just absolutely love Brad Sherman.
• 31:53
  He's my favorite politician. He's the only politician,
• 31:56
  whether he knows it or not, that actually, you know, exposes the
• 31:59
  game at hand. And I, even though he's trying
• 32:02
  to own us, I, I love when he's cell phones.
• 32:04
  He's my favorite. He's my favorite.
• 32:06
  Yeah, no, me too, but hold on by by Mr. Brad Sherman.
• 32:11
  But anyways, guys, before we move on to the news segment, I
• 32:15
  do want to give an extremely shout out to our sponsor.
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  the Bitcoin 2024 conference in Nashville, you definitely don't
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• 33:44
  All right everybody, let's hit the news.
• 33:46
  Lots to talk about the Daily News.
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• 35:18
  All right, today's topic for the news is what is Bitcoin's full
• 35:23
  potential valuation? Now, it's really interesting
• 35:26
  because how Finney originally wrote about this many, many
• 35:29
  years ago. This was dated January 11th,
• 35:32
  2009. I think the Bitcoin price was
• 35:35
  like a dollar back then. But this was the original post,
• 35:38
  which we'll get to in a second. But first, let's read Jesse
• 35:42
  Meyer's updated version of it, I guess you could say.
• 35:46
  And the question is, how high can it go?
• 35:48
  Where is the ceiling of Bitcoin? And he kind of breaks down the
• 35:52
  thought process and like where how he got to these conclusions.
• 35:56
  But first, it's important to give a little bit of context.
• 35:59
  So what market is Bitcoin competing in?
• 36:01
  Most people think Bitcoin has a currency.
• 36:03
  While this is true, it causes confusion because Bitcoin is
• 36:07
  more than a currency that is a store of value asset like gold.
• 36:10
  In truth, Bitcoin is digital gold designed to improve on gold
• 36:14
  strengths and solve for gold's weaknesses.
• 36:16
  This means that Bitcoin is competing against gold and other
• 36:19
  store value assets that its market value itself goes on to
• 36:24
  say Bitcoin is competing with store value assets.
• 36:26
  That means gold, but also bonds, real estate, and equities.
• 36:30
  In truth, it means that Bitcoin is competing with all assets
• 36:33
  because all assets serve as store value assets.
• 36:37
  Different assets have different ceilings, meaning the percentage
• 36:39
  of the global asset pie they could ever be, they could ever
• 36:42
  realistically be. This is because the valuation of
• 36:45
  each asset category is constrained by key variables in
• 36:48
  their respective valuation equations.
• 36:51
  The value of a company is determined by two major inputs.
• 36:54
  It's expected future cash flows and the discount rate for those
• 36:58
  cash. Cash flows.
• 37:00
  For real estate, it's a similar story.
• 37:02
  Global real estate value is constrained by expected future
• 37:05
  cash flows, mortgage rates, and the amount of new supply being
• 37:09
  created. Commodities are different in the
• 37:12
  sense that interest rates are not a primary input that helps
• 37:15
  to establish a ceiling for valuations.
• 37:18
  Instead, commodity valuations are primarily constrained by new
• 37:21
  supply. For instance, with gold, global
• 37:24
  mining efforts collectively add 2% per year to above ground
• 37:28
  supply. The steady 2% annual supply
• 37:31
  growth has been true for the last century as the low hanging
• 37:34
  fruits of gold deposits have been plucked.
• 37:37
  Technology has unlocked has unlocked access to previously
• 37:40
  unreachable deposits. At 12 trillion in total above
• 37:44
  ground gold, that means the global market cap must absorb
• 37:48
  240 billion and new supply every year.
• 37:52
  This downward pressure on gold's price acts like the force of
• 37:55
  gravity, keeping gold's value constraint by the realities of
• 37:58
  supply and demand. What makes Bitcoin so different
• 38:02
  is that the market has to absorb half as much new supply from
• 38:05
  mining every four years. In 2016, that was 3.6% annual
• 38:10
  supply growth, Today 1.8%. In 2024, we're currently here
• 38:15
  .9%, in 2028.45%. And nobody on earth can alter
• 38:21
  that relentless March either. Metaphorically speaking, gravity
• 38:24
  gets cut in half every four years for Bitcoin.
• 38:27
  Therefore, the variable that typically constraints the
• 38:30
  valuation of commodities shrinks to zero over time, goes on to
• 38:35
  say, to put it simply, there's a fixed supply of them and they're
• 38:38
  getting more and more scarce. So you guys have seen this for
• 38:42
  audio listeners, here's a graph, right?
• 38:44
  It shows the Bitcoin subsidy and then over time that subsidy
• 38:48
  keeps getting cut in half. That is absolute scarcity.
• 38:52
  Not only absolute scarcity, but also increasing scarcity.
• 38:56
  Here's a quote from Satoshi Nakamoto.
• 38:58
  He goes on to say as the number of users grow, the value per
• 39:02
  coin increases. It has the potential for a
• 39:04
  positive feedback loop. As users increase, the value
• 39:08
  goes up, which could attract more users to take advantage of
• 39:11
  the increasing value. Satoshi Nakamoto February 18th
• 39:15
  2009 goes on to say there's a lot of wealth out there.
• 39:19
  All of it is sitting in assets of one kind or another.
• 39:22
  But what does the full picture of the global asset landscape
• 39:25
  look like? Incredibly, there doesn't seem
• 39:28
  to be a simple high level view of this anywhere.
• 39:31
  So I spent the day researching and gathering data in 2021 and
• 39:35
  have updated that analysis for 20/23.
• 39:38
  Here's the result. Obviously the Bitcoin market cap
• 39:41
  is currently sitting at 1.341 point 3-4 trillion.
• 39:46
  Gold is currently sitting at 15 trillion, but it's roughly the
• 39:50
  same. Art is 18 trillion, collectibles
• 39:53
  16 trillion, equities 115 trillion, real estate 330
• 39:58
  trillion, bonds 300 trillion, money 120 trillion.
• 40:02
  Now, very common sense observation here.
• 40:05
  I think Bitcoin is better than gold.
• 40:07
  I think Bitcoin is better than real estate.
• 40:09
  Obviously everyone needs a roof over their head.
• 40:11
  But in terms of using real estate as a store of value, I
• 40:14
  think Bitcoin is superior. Bitcoin, I think is obviously
• 40:18
  superior to bonds in every which way.
• 40:20
  That doesn't need an explanation.
• 40:22
  And obviously Bitcoin is the best money the world has ever
• 40:24
  seen. So do a little bit of simple
• 40:26
  math, everyone, right? And so if the Bitcoin market cap
• 40:29
  is sitting roughly at 1.34 trillion and there's 900
• 40:33
  trillion in total total global assets, I mean, you can just
• 40:39
  make do some quick math in your head and see where this is
• 40:42
  going. Anyways, Bitcoin's total
• 40:44
  addressable market is the world's balance sheet.
• 40:47
  All 900 trillion of it. Any of the store, any of the
• 40:50
  value stored in some particular asset could theoretically be
• 40:54
  reallocated to Bitcoin. Instead, all it takes is for
• 40:57
  individuals to decide that Bitcoin is a better asset to
• 41:00
  hold than what they are currently holding.
• 41:03
  With that in mind, we have to ask ourselves an important
• 41:05
  question. When Bitcoin's mechanics
• 41:07
  continue to play out, will more than .05% of the of the world's
• 41:13
  capital eventually realize it it wants to be in an asset like
• 41:17
  that? I think the only logical
• 41:19
  conclusion is yes. What is Bitcoin's full price
• 41:22
  potential? Bitcoin enthusiasts often make
• 41:25
  the mistake of concluding that Bitcoin's potential valuation is
• 41:28
  infinite. This is true in dollar terms,
• 41:30
  since there is no limit to the amount of dollar debasement that
• 41:33
  could occur into the future, but it is unrealistic in real terms
• 41:38
  relative to other assets. The truth is that Bitcoin stands
• 41:41
  in relative competition with other store value assets, all of
• 41:45
  which have unique value propositions.
• 41:47
  A wealthy individual is not very likely to sell their mansion or
• 41:51
  their prize Rembrandt to buy Bitcoin, but is instead more
• 41:54
  likely to sell some of their bond portfolio because they
• 41:57
  believe Bitcoin better fulfils the intended purpose of holding
• 42:01
  bonds. By addressing each store of
• 42:03
  value asset bucket, it's possible to estimate what
• 42:06
  percentage of the value stored in each will be reallocated to
• 42:10
  Bitcoin. Once the world collectively
• 42:12
  understands Bitcoin's unparalleled properties, the
• 42:15
  exercise ultimately yields a full potential valuation of for
• 42:19
  Bitcoin in today's dollars. Here's what I think is a
• 42:23
  reasonable, even conservative estimate of Bitcoin's full
• 42:26
  potential, Right. So out of the 900 trillion here
• 42:30
  Jesse Myers is making the argument that he believes that
• 42:33
  Bitcoin could potentially capture 200 trillion of that 900
• 42:38
  trillion, and that would put the price of Bitcoin at roughly $10
• 42:42
  million per coin. So he goes on to say my
• 42:47
  conservative estimate suggested an outrageous full potential for
• 42:50
  bitcoins price, $10 million per Bitcoin in today's dollars.
• 42:54
  To put this in another way, I believe Bitcoin's full potential
• 42:58
  is to eat 25% of the world's value.
• 43:02
  Now what's really interesting also is that how Finney was
• 43:06
  talking about this many, many, many years ago, and he goes on
• 43:10
  to say, as an amusing thought experiment, imagine that Bitcoin
• 43:13
  is successful and becomes the dominant payment system in use
• 43:16
  throughout the world. Then the total value of the
• 43:19
  currency should be equal to the total value of all the wealth in
• 43:22
  the world. Current estimates of total
• 43:24
  worldwide household wealth that I have found range from 100
• 43:28
  trillion to 300 trillion. With 20 million coins, that
• 43:31
  gives each coin a value of about 10 million.
• 43:36
  Now here's like a simple thing that I did very, very quickly,
• 43:40
  right? And let's let's say it doesn't
• 43:43
  reach those hundreds of trillions of dollars, Mark,
• 43:46
  let's say just reaches the market cap of gold roughly
• 43:50
  Bitcoin market cap right now is 100.
• 43:52
  I kind of messed this around. Let's just say to round it up,
• 43:56
  even though the math might be wrong 'cause I had to change the
• 43:59
  the Bitcoin market cap 'cause it fluctuated anyways.
• 44:02
  So Bitcoin's market cap is 1.34 trillion, Gold's market cap is
• 44:06
  15 trillion. Just if Bitcoin reaches the gold
• 44:09
  market cap, that would put the price of Bitcoin at roughly
• 44:13
  $750,000 per Bitcoin. So I mean, what is that more
• 44:18
  than a 10X from here? I think that's still an
• 44:20
  incredible opportunity. And I think that's literally why
• 44:24
  it makes it one of the best savings technology the world has
• 44:26
  ever seen. But anyways, it's kind of like
• 44:28
  an interesting conversation, especially from house
• 44:30
  perspective. Man, back in 2000, 2009, when he
• 44:35
  was saying that a 2011, the price of Bitcoin wasn't even at
• 44:39
  a dollar. It was like barely at a dollar.
• 44:42
  And you know, he was saying these astronomical type of
• 44:47
  predictions and types of things that where he believed it was
• 44:50
  going definitely before his time.
• 44:53
  But I love how Jesse kind of broke down what the thought
• 44:56
  process was behind this, broke down all the different assets,
• 45:00
  broke down, you know, all the different kind of stores of
• 45:02
  value that a lot of wealthy people are using just to
• 45:05
  maintain their purchasing power. But what's really interesting to
• 45:09
  me is once again, the once again is I think Bitcoin's superior to
• 45:17
  real estate. I think Bitcoin's superior to to
• 45:20
  any of the world's currencies. I think Bitcoin is superior to
• 45:23
  gold, you know, like I think it's just a better store of
• 45:27
  value. So I think it's just a matter of
• 45:29
  time before the rest of the world realizes that.
• 45:32
  And I think the this process is already playing out.
• 45:35
  Why do I say that? You have Wells Fargo, you have
• 45:38
  JP Morgan, all, you know, getting exposure to the Bitcoin
• 45:42
  spot, Bitcoin ETF. Of course, you have the
• 45:44
  Wisconsin pension fund, you know, purchasing.
• 45:48
  There we go XX. Thank you, $783,000 per coin.
• 45:52
  Thank you XX. And you have the Wisconsin
• 45:55
  pension fund getting exposure to Bitcoin.
• 45:57
  You have Michael Saylor proving that his Bitcoin strategy is
• 46:01
  beating the S&P 500. It's beating, you know, the all
• 46:05
  the tech stocks. So clearly the Bitcoin strategy
• 46:09
  is the best strategy. And you know, these numbers
• 46:12
  sound absolutely crazy, but at the same time, if I told you
• 46:16
  that Bitcoin was going to be sitting at 67,000 dollars back
• 46:20
  when Hal Finney was writing this piece, when Bitcoin was like 100
• 46:23
  a dollar, $100, you would have laughed me out of the room.
• 46:26
  You would have thought I was absolutely crazy.
• 46:28
  So yeah, that's my take on all this.
• 46:31
  I know this is a topic that you guys really enjoy 'cause you
• 46:34
  guys really enjoy every time we do an episode on this.
• 46:36
  So I want to get Anita. Anita, what are your thoughts on
• 46:39
  this? Does it even matter?
• 46:41
  What are your thoughts? Yeah, we all live on opium,
• 46:45
  don't we? I mean, of course, that's a
• 46:50
  great thing to have. You know, I mean, the hope that
• 46:53
  Bitcoin will go to those valuations.
• 46:58
  But for me, it's also very, very, very important that it's a
• 47:03
  perfect medium of exchange. And this brings into play all
• 47:08
  these billions of people who are disadvantaged at the moment
• 47:11
  because their countries don't allow them, for instance, to
• 47:16
  send money freely in and out of the country.
• 47:18
  And that's not only in authoritarian settings, that's
• 47:21
  also in our countries. It's not so easy to move your
• 47:25
  wealth to another country. If you want to exit your own
• 47:30
  home country or something, go to a brighter place if you found
• 47:33
  one and especially like as an example, in Zimbabwe and all
• 47:39
  other countries like Nigeria or Ghana, you have weekly and
• 47:44
  monthly limits how much you are allowed to pay from your bank
• 47:49
  account via digital money or mobile money or your banking
• 47:55
  online banking account. You have limits on how much you
• 47:59
  are allowed to withdraw in cash. In Zimbabwe.
• 48:03
  You very often have ATMs that are empty.
• 48:07
  And so if you send money on a regular basis out of the
• 48:12
  country, out of Zimbabwe to maybe you have a freelancer in
• 48:16
  Kenya or in Nigeria and you want to send them money, it's very
• 48:20
  difficult because no one wants the local currency.
• 48:23
  The now it's called the Zimbabwe gold.
• 48:26
  Before it was the Zimbabwean dollar because of the high
• 48:29
  inflation, but then also you mostly don't have ULS dollar
• 48:35
  bank accounts. And because Zimbabwe is
• 48:38
  sanctioned, as soon as you want to have a bank account or a
• 48:44
  crypto exchange account somewhere and they see you're
• 48:47
  from Zimbabwe, you're kicked out of the system.
• 48:50
  So you try to send your money in a way I don't know how.
• 48:54
  Yeah, definitely not with PayPal to Ghana or Kenya.
• 48:59
  And when you do that more often, the police Bureau, so basically
• 49:04
  the the Stasi of Zimbabwe comes to you and says, why are you
• 49:09
  sending money out of the country that often?
• 49:12
  That's very unpatriotic. You shouldn't do that.
• 49:15
  So you don't have any freedom of, of exchange, our freedom of
• 49:21
  transaction there. And that's the reason why
• 49:25
  Bitcoin is such a great tool, because no one can stop it.
• 49:28
  No, no government, no dictator can stop you from using it.
• 49:33
  And that's also the reason why I fear, I mean, we have a lot of
• 49:38
  attacks on Bitcoin onto cryptocurrencies in the US, you
• 49:43
  know, better than I do, but also in the European Union at the
• 49:46
  moment. And also regarding the price of
• 49:51
  Bitcoin, if more people use Bitcoin as a medium of exchange
• 49:55
  to spend it so that others can earn it, we will all also have
• 49:59
  more adoption from that side, which will also make the price
• 50:02
  go up. And that's why I think it's very
• 50:06
  important to spend also, I mean spend and replace, you know,
• 50:10
  your stack. And so Speaking of African
• 50:16
  adoption, I think it's very interesting that in Nigeria, for
• 50:20
  instance, Nigeria has the highest share of Bitcoin
• 50:25
  transactions from the total cryptocurrency volume.
• 50:29
  It's higher than in North America.
• 50:31
  That's very interesting. And so a lot of people in
• 50:35
  Nigeria looking to to hedge against inflation and, and to be
• 50:42
  able to freely transact with Bitcoin.
• 50:46
  And so now the government in Nigeria has basically again
• 50:51
  banned Bitcoin peer-to-peer usage.
• 50:56
  I don't know how they really want to ban it.
• 50:59
  And they said the ban is because cryptocurrency is a national
• 51:06
  security threat exactly because of that.
• 51:09
  What your senator also said, they say it's because the
• 51:16
  peer-to-peer market influences the price of the local currency,
• 51:22
  the naira downwards. So they blame it on
• 51:25
  cryptocurrencies, which is a joke.
• 51:27
  They just don't want it because they know that people exit their
• 51:31
  corrupted system via Bitcoin and other cryptocurrencies and they
• 51:35
  go to that, that they, I don't know, I guess you know that in
• 51:40
  March they asked to finance managers to come to Nigeria to
• 51:45
  discuss because Nigeria doesn't want finance in the country
• 51:50
  anymore. And so those two managers came
• 51:54
  to Nigeria and to discuss with authorities and they were
• 51:59
  immediately detained. So one of those managers was
• 52:04
  able to flee, but the other one is still hailed in Nigeria.
• 52:09
  And so they really wanna, they basically kidnapped him to to
• 52:15
  bring finance to do what they want.
• 52:18
  Yeah. And so countries and, and not
• 52:23
  only those countries, but also in Europe, I see a lot of
• 52:28
  appointment against Bitcoin and especially privacy.
• 52:34
  Yeah, which is actually a human right.
• 52:37
  But we don't have that anymore it seems.
• 52:40
  And that varies me a lot. So I really do hope that like
• 52:47
  regulators or or we, we the people protest against those
• 52:55
  developments. But sometimes I'm a little
• 52:58
  pessimistic, to be honest. Yeah.
• 53:00
  And and that's a really good point and especially the the
• 53:03
  Nigeria one because it's something that we've been
• 53:05
  covering on simply which is like the they rolled out a central
• 53:10
  bank digital currency, it was not popular and then they
• 53:14
  started, you know, increasing the capital controls and they
• 53:18
  blamed finance basically is finance.
• 53:21
  You guys are the reason why, you know, you know why the, the, the
• 53:26
  naira is, you know, inflating. It's something actually very
• 53:30
  similar to what you see all over the world where governments
• 53:34
  blame everyone and anything but themselves for inflation, even
• 53:39
  though they're the sole cause because they're the ones that
• 53:42
  are printing, that are debasing the currency.
• 53:45
  I really see Nigeria as kind of like this foreshadowing of what
• 53:48
  could potentially happen for the rest of the world, you know, as
• 53:52
  governments get more trapped into a corner and, and like the,
• 53:57
  the hubris of, of, of Brad Sherman when he was talking
• 54:00
  about that, you know, and then there's very famous videos of
• 54:03
  him earlier on basically saying like, you know what, like they
• 54:07
  think they can print money. We can print money because we're
• 54:10
  the US government. He's just so sure of himself.
• 54:12
  He's just so confident himself. But again, you know, in the US,
• 54:17
  OK, when, you know, things got bad, we hit 9% inflation, 8%
• 54:21
  inflation. But in these countries, you're
• 54:23
  talking about double digit inflation on a monthly basis.
• 54:27
  People cannot live with that level of, of currency
• 54:33
  debasement. People start saving and
• 54:35
  alternative things. Like I know in Venezuela, one of
• 54:37
  the things that they, that people do is that they would buy
• 54:41
  dishwashers and, and washing machines and they would store
• 54:44
  them or cars because the car, which is a depreciating asset
• 54:50
  would hold more value than, you know, the inflating local
• 54:54
  currency. So 100% agree with you, Anita
• 54:58
  and and I, and I want to hear more about it specifically
• 55:00
  during the culture segment. But before we get to that Opti,
• 55:04
  you have some quick thoughts. Then we'll go on to to to the
• 55:07
  ads, the transition and then back to Anita.
• 55:10
  Yeah, well, my, my favorite part about the how Finney post,
• 55:13
  especially the first one in 2009, is just how bullish how
• 55:16
  Finney was. You know, like Bitcoin didn't
• 55:18
  even have a price set. And he's like, yeah, we're going
• 55:20
  to $10 million. Like this is my price
• 55:22
  prediction. Here's my math behind it.
• 55:24
  And it really reminds me of what CK always says, like we're not
• 55:27
  bullish enough. Be like how guys, stay bullish,
• 55:29
  stay stupidly bullish. This is the way, but kind of
• 55:32
  going back to what Jesse was saying, I'm I'm kind of getting
• 55:34
  turned off by the digital gold meme.
• 55:38
  You know, I think it's a good way to kind of wrap your head
• 55:40
  around what Bitcoin is. But as Anita was saying, it's
• 55:43
  like Bitcoin is the best money, period.
• 55:45
  And the function of money is of course, three-part, like one is
• 55:49
  the store value, another is to be used as a medium exchange,
• 55:52
  and the third one is as a unit of account.
• 55:55
  And Bitcoin is all of these things.
• 55:56
  And so I think using these mechanisms to try to wrap your
• 56:01
  head around what Bitcoin is, it's, it's kind of a good
• 56:03
  stepping stone. But after a certain point, you
• 56:05
  realize, like Bitcoin is the best money period.
• 56:07
  And yes, of course, you know, I think the numbers now that that
• 56:11
  Jesse was using, and we've been using for a while, it's like
• 56:13
  $900 trillion of total assets in the world.
• 56:16
  And if Bitcoin takes a small portion of that and, and as a
• 56:19
  Bitcoiner, of course, we think that it'll take a large portion
• 56:22
  of that, then of course the price is going to go up forever,
• 56:25
  as the meme goes. But I think, you know,
• 56:28
  simplifying this is and of course ADIQ Bitcoiner, Bitcoin
• 56:32
  has no ceiling because Fiat has no floor.
• 56:34
  Like it's Infinity divided by 21 million.
• 56:37
  Always remember that, that they will continue to print money as
• 56:40
  long as they're capable of. And once people wake up, they'll
• 56:43
  go into Bitcoin. And like Anita was saying, once
• 56:46
  more people adopt Bitcoin, then the price will continue to go
• 56:49
  up. And I think one of my favorite
• 56:51
  things when we talk about this is the idea, and I think a lot
• 56:54
  of people miss this, is that yes, the global wealth pie right
• 56:57
  now might be 900 trillion, but it that's, that pie is not going
• 57:02
  to stay stagnant. As we create new technology, as
• 57:05
  more value is created, the pie will get bigger.
• 57:07
  So that's even more bullish for Bitcoin because Bitcoin will
• 57:10
  take a portion of the global pie as it's expanding and the
• 57:14
  Bitcoin price in the Bitcoin market cap.
• 57:16
  Well, of course, increase with that as well.
• 57:19
  So I think it's very important for everyone and I know you you
• 57:23
  might get you might get some Flack from people like you're
• 57:25
  too bullish, but I think you need to maintain being extremely
• 57:28
  bullish on Bitcoin, not just for the price, but just for a more
• 57:31
  hopeful future. Bitcoin will improve society.
• 57:34
  It will improve every aspect of society.
• 57:36
  As we always say, fix the money, fix the world.
• 57:39
  So as we move into the future, Bitcoin price of course will go
• 57:44
  up, but things will get better. And if that doesn't make you
• 57:47
  bullish on Bitcoin, if that doesn't make you bullish on what
• 57:50
  we're doing here, then you got to go back to your fundamentals
• 57:53
  and and you know, study a little bit of what actually is going to
• 57:56
  happen with Bitcoin. So of course, as the chat always
• 58:00
  says to us and always trolls us is the true value of Bitcoin is
• 58:03
  Infinity dollars per SAT because it's going up forever, because
• 58:06
  they'll continue to print more money.
• 58:08
  But kind of going down the thread that Jesse was was going
• 58:12
  down. I think it's very important to
• 58:13
  remind people if that is the framework that they want to use,
• 58:17
  that Bitcoin is the best performing asset of the last 15
• 58:19
  years. And I think it will continue to
• 58:21
  be the best performing asset moving forward.
• 58:23
  So it's very important for people to get off 0 to, to save
• 58:27
  in Bitcoin because if you are an average person, you're trying to
• 58:31
  save in in dollars like you're getting absolutely decimated.
• 58:34
  And this is what it's all about. It's protecting yourself.
• 58:36
  They cannot debase Bitcoin. They're constantly debasing your
• 58:40
  favorite way to store value as an average person.
• 58:43
  And this is about self preservation at the very end of
• 58:46
  the day, Yes, it's about censorship resistant money,
• 58:50
  permissionless money, but it's also about saving your wealth so
• 58:54
  that it doesn't get the base, so you're not holding melting ice
• 58:57
  cubes. And I think we're seeing this
• 58:59
  start to catch on. So the frameworks, what what's
• 59:02
  that meme? All your models are destroyed.
• 59:04
  So like the frameworks get you through the door so that you can
• 59:07
  start to wrap your head around what's going on.
• 59:10
  But once you really understand Bitcoin, it's, I think it's
• 59:13
  extremely difficult to not stay bullish about where we're going
• 59:16
  as Bitcoiners and where the world's going on a big Bitcoin
• 59:20
  standard or as Bitcoin being a store of value.
• 59:23
  And that I think that is the best way to spread this message
• 59:27
  to people is just like, I am optimistic about the future
• 59:31
  while everyone else is pessimistic about the future.
• 59:33
  This is how you spread the signal as being like, look, in
• 59:35
  the face of all this crazy stuff, the world will get
• 59:39
  better. And it starts with fixing the
• 59:41
  money because that's how we fix the world.
• 59:43
  Absolutely. All right everybody, before we
• 59:44
  get on to the culture segment, I do want a very special shout out
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• 1:00:44
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• 1:01:59
  OK. So Anita, super glad to have you
• 1:02:02
  and and I want to kind of circle back to the conversation we were
• 1:02:05
  just having and you did kind of mention a few things that I
• 1:02:08
  wanted to talk about. And one is the attack on privacy
• 1:02:12
  at large and of course on Bitcoin privacy in general.
• 1:02:15
  But you did do a really great documentary last year about how
• 1:02:20
  Bitcoin enforces human rights. So can we kind of mash these two
• 1:02:23
  ideas together and talk about the attacks on privacy and how
• 1:02:26
  Bitcoin is really a human rights issue?
• 1:02:29
  And I know you, this is going to be right up your alley.
• 1:02:32
  Absolutely. Thanks for that.
• 1:02:34
  So I just made a new talk because I'm in Anheim at the
• 1:02:38
  moment at adopting Bitcoin Anheim.
• 1:02:42
  Next week I'm at the Oslo Freedom Forum and then at PTC
• 1:02:45
  Prague talking about how Bitcoin enforces human rights and also
• 1:02:51
  doing workshops with human rights activists from all over
• 1:02:54
  the world to show them how Bitcoin can help them to receive
• 1:02:59
  money to fund their nonprofit organizations, to fight against
• 1:03:03
  authoritarianism and other fight for for their rights.
• 1:03:09
  Yeah. And to party maybe.
• 1:03:12
  So there, there are like 30 articles in the United Nations
• 1:03:19
  Human Rights List, and I identified that for 11 of those,
• 1:03:25
  Bitcoin can be a tool that enforces it or supports that
• 1:03:31
  human right. And we were just speaking about
• 1:03:34
  the right to privacy, which is an article in the Human Rights
• 1:03:38
  Convention list. And also there is the
• 1:03:41
  presumption of innocence. And I want to talk about the
• 1:03:44
  presumption of innocence as a human right and how we don't
• 1:03:47
  have that anymore in today's world.
• 1:03:51
  Together with that we don't have any privacy anymore because and
• 1:03:57
  also the goal of it seems every government in the world is to
• 1:04:02
  basically have a complete picture of all what we do.
• 1:04:07
  Like with all the KYC regulation and the anti money laundering
• 1:04:13
  rules and regulations. It's now the time that we as
• 1:04:18
  people who want to use some form of money or some form of
• 1:04:22
  financial account and even Bitcoin, we need to identify
• 1:04:28
  ourselves upfront. So basically we're not innocent
• 1:04:33
  anymore. We have to show that we we have
• 1:04:39
  to give them our identity so that we can prove our innocence
• 1:04:44
  all the time. So it's not anymore that they go
• 1:04:48
  for criminals who might do some illegal stuff before they use
• 1:04:52
  money or after they used it and have to prove that they made
• 1:04:58
  something which is illegal. No, now it's us who have to
• 1:05:02
  prove ourselves upfront. And also recently there was this
• 1:05:09
  court case in the Netherlands last week where the software
• 1:05:14
  developer of Tornado Cash has been convicted to more than five
• 1:05:20
  years of imprisonment. And one of the explainers of the
• 1:05:25
  judge why that happened was that they said that the developer
• 1:05:32
  basically made some decisions to work on that code and in the
• 1:05:40
  knowledge that maybe also people who are doing illegal things can
• 1:05:46
  use or will use his software. So basically it's like a knife
• 1:05:53
  manufacturer, for instance, is selling a knife and someone is
• 1:05:58
  killing someone with that knife. I never heard that a knife
• 1:06:02
  manufacturer or a gun manufacturer was imprisoned for
• 1:06:06
  because they also know that someone can kill someone with
• 1:06:09
  it. Yeah.
• 1:06:10
  So this is very, very varying to me, as I said before, because it
• 1:06:16
  also takes the freedom of speech from us, which then takes
• 1:06:23
  freedom of association. Because if I can't express my,
• 1:06:29
  my will or my opinions through money, because if I donate to a
• 1:06:33
  'cause I express my opinion. And if I can't express my
• 1:06:39
  opinion with money, I can also not associate and get together
• 1:06:44
  with others to demonstrate or protest against untrust,
• 1:06:50
  something that's untrust or against police brutality.
• 1:06:54
  Like it happened in Nigeria where Bitcoin was then really
• 1:06:58
  used like with PTC pay server, the feminist Coalition was able
• 1:07:02
  to receive donations from abroad again to support the protests
• 1:07:07
  against police brutality. After that, the fact that the
• 1:07:12
  when they first started to using the banking system, the central
• 1:07:16
  bank immediately shut their banking account.
• 1:07:20
  So they remembered there's something like Bitcoin and set
• 1:07:24
  up their own PTC pay server. So Bitcoin enforces a lot of
• 1:07:29
  human rights also, like freedom of movement.
• 1:07:33
  Yeah, that's also you said Bitcoin is superior to real
• 1:07:38
  estate. I agree for me, because with
• 1:07:41
  Bitcoin, I'm very mobile. You can take your Bitcoin
• 1:07:44
  anywhere and you only need to remember 12 words if, if it's
• 1:07:49
  hard on hard and you need to move fast because maybe there's
• 1:07:54
  a war or some sort of catastrophe in your country and,
• 1:07:57
  and you need to leave. So Bitcoin is really, how should
• 1:08:04
  I say it's the backbone of of or the embodiment of human rights.
• 1:08:10
  You can't do that with any other cryptocurrency because all those
• 1:08:14
  other cryptocurrencies in a way centralized, they can be shut
• 1:08:18
  down and and only Bitcoin can't be.
• 1:08:23
  And so it's our only defense tool actually.
• 1:08:28
  And regarding privacy, yes, we need more privacy on chain.
• 1:08:32
  We need more possibilities to to hide our traces.
• 1:08:37
  And this is not because we want to hide something from our
• 1:08:43
  society and from from the government in that sense, you
• 1:08:46
  know, I mean, I see the government and authorities in my
• 1:08:50
  country as these are, they are here to the service of the
• 1:08:55
  people, not the other way around.
• 1:08:58
  And if they do a good service to my country and to my living
• 1:09:01
  standards, then I pay taxes. I can also pay them in Bitcoin,
• 1:09:07
  but I don't see why I need to pay a capital gains tax and a
• 1:09:14
  tax on my income with the same currency, which you have to do
• 1:09:18
  now in in in Austria, for instance.
• 1:09:20
  Yeah. So, yeah, there's a lot of
• 1:09:23
  things to be said about that. And it's right that, like you
• 1:09:28
  Will Harare, the author, recently said that Bitcoin shows
• 1:09:35
  basically, in my words, I would say it shows that people have
• 1:09:38
  lost trust in their governments, which is actually true.
• 1:09:42
  And but it gives us hope. And we don't need to trust the
• 1:09:49
  Bitcoin system because it has its own rules and no human
• 1:09:55
  interaction can change them to their own good.
• 1:09:58
  And that's the great thing about Bitcoin.
• 1:10:01
  And I think it's something that so many people still can't
• 1:10:05
  grasp. And I know that a lot of people
• 1:10:08
  are also very scared. So interestingly enough, if I
• 1:10:14
  talk to people about Bitcoin in Europe, most people, the first
• 1:10:19
  thing they say is it scares me. I I don't know how it works.
• 1:10:24
  That's the first thing. And the next thing is what
• 1:10:26
  happens to our to our society, to our society, society,
• 1:10:35
  societal contract. Yeah.
• 1:10:37
  So people are afraid of the new. They justify the system that
• 1:10:44
  they have at the moment because actually they arrange themselves
• 1:10:48
  with it. And so I think people who are
• 1:10:53
  already in Bitcoin, in self custody Bitcoin are those who
• 1:10:58
  who like Andreas Antonopoulos once said Bitcoin is park.
• 1:11:02
  Yeah. So we are still the parks.
• 1:11:04
  It's still very early and I hope that people more and more
• 1:11:08
  realize that Bitcoin is for anyone and it doesn't favor the
• 1:11:14
  crypto pros. The crypto pros are in shit
• 1:11:17
  coins in shit queen land, and that's something different than
• 1:11:21
  Bitcoin from my perspective. Amen to that.
• 1:11:24
  I do want to before I pass it back up to Opti, I do want to
• 1:11:27
  give a shout out to John. Thank you so much for the Super
• 1:11:30
  shot the $20 Appreciate it bro. He says fix the money fix the
• 1:11:33
  world. Thanks to all you hard working
• 1:11:35
  folks keep up streaming and stay strong.
• 1:11:38
  Thank you John. Appreciate John.
• 1:11:40
  I hope I pronounced it correctly.
• 1:11:42
  Appreciate the the the Super chat.
• 1:11:45
  Anyways, back to you Opti. Yeah, I love it.
• 1:11:47
  Well, Anita, couldn't agree more.
• 1:11:48
  I I totally agree. And let's let's talk about
• 1:11:52
  Bitcoin for fairness. I'm I'm gonna pull up the, the
• 1:11:54
  website and I really enjoyed the stories you were telling us
• 1:11:57
  early. So maybe for people that are
• 1:11:59
  joining late, can you talk about the, the on ground response to
• 1:12:04
  Bitcoin with your work at Bitcoin for fairness?
• 1:12:11
  Did we lose her? Do we lose me?
• 1:12:14
  No, I'm still here. It looks like Anita's frozen.
• 1:12:20
  Yeah, it looks like we've lost Anita for a second.
• 1:12:24
  No. All right, All right.
• 1:12:27
  Oh, she dropped out. All right, So let's let's keep
• 1:12:32
  let's keep talking for a second. We'll give Anita some time to
• 1:12:35
  see if she can she can join back.
• 1:12:38
  But it seems like we are doing this live, ladies and gentlemen,
• 1:12:42
  anyways. Well, we got most of the culture
• 1:12:44
  in. Yeah, we got most of the culture
• 1:12:46
  in. I do want to give a shout out to
• 1:12:49
  Anita for joining us. Check out her her website
• 1:12:52
  Bitcoin for. Fairness BFF BTC org.
• 1:12:57
  Yeah, absolutely. Go check it out.
• 1:12:59
  I want to give a very special thanks for Anita.
• 1:13:01
  Join us on Simply Bitcoin Live Today.
• 1:13:04
  Dude, today's show was packed with news.
• 1:13:06
  Oh, we got an issue back. There we go.
• 1:13:09
  OK, we were. We were about to.
• 1:13:10
  Sorry. Could you hear Chris?
• 1:13:14
  Anita or am I not back? Your audio's back.
• 1:13:18
  Your audio is back. Your audio's back.
• 1:13:21
  OK, so. Before we go.
• 1:13:22
  Off connection. It's all right, Beef.
• 1:13:25
  It happened before. Before we roll this out, can you
• 1:13:28
  talk about Bitcoin for fairness and then and then we'll wrap
• 1:13:31
  today's show up apparently. Yeah, thank you.
• 1:13:34
  So yeah, Bitcoin for fairness, our project at the moment is
• 1:13:38
  correct the Orange where we have a online course program with a
• 1:13:45
  12 months membership for new Bitcoin educators and community
• 1:13:52
  builders in African countries. So our goal is to educate 100
• 1:13:59
  Bitcoin educators a year so that they can share Bitcoin education
• 1:14:04
  in their own areas, local groups and countries that we started
• 1:14:12
  that because from my travels, I did a lot of workshops and talks
• 1:14:16
  and it was great to be there on the ground to build trust and
• 1:14:20
  and to talk about Bitcoin. But then, you know, people need
• 1:14:24
  a local meet up, they need Bitcoin us there where they can
• 1:14:28
  connect with and ask questions. And that's why we want to build
• 1:14:32
  this Bitcoin educators and community builders and help with
• 1:14:36
  education. Correct.
• 1:14:38
  The orange on the other hand is also a program for everyone,
• 1:14:43
  anyone all around the world who is new to Bitcoin.
• 1:14:47
  It explains the how and also the why of Bitcoin.
• 1:14:51
  Why self custody important, How does it work?
• 1:14:54
  How do you store your C trays the best way most safely?
• 1:15:01
  What is the lightning network, which wallets to use with wallet
• 1:15:04
  tutorials and things like that. So it's a holistic program and
• 1:15:11
  at the end of the year, I'm will I go back to to African
• 1:15:15
  countries, to Zimbabwe and also I think to Kenya to the third
• 1:15:20
  Afro Bitcoin conference, which is a great place to be because
• 1:15:24
  African countries, especially South Africa, for instance, are
• 1:15:28
  very innovative in Cape Town and in South Africa, you can pave
• 1:15:32
  with lightning in over 2000 supermarket stores all over the
• 1:15:37
  country. And that's a great thing to to
• 1:15:40
  have. And yeah, that's that's what we
• 1:15:44
  do basically like Bitcoin for fairness is a nonprofit
• 1:15:48
  initiative based in Uganda. And yeah, if if you know any
• 1:15:55
  aspiring Bitcoin educators in African countries or in the
• 1:15:59
  global S, tell them about the scholarship opportunity for
• 1:16:03
  Crack the orange. If you want to bring your mom or
• 1:16:06
  your dad to Bitcoin, then you can send them to my course.
• 1:16:11
  And yeah, that's what we do. And if you just like to support
• 1:16:15
  the work that Bitcoin for Fairness has been doing, we now
• 1:16:18
  have a Bitcoin for Fairness group in Zambia, for instance.
• 1:16:22
  They are doing their own meetups.
• 1:16:27
  We have someone in Zimbabwe mining Bitcoin with solar.
• 1:16:31
  I connected critless with Bondo in Malawi a, a, a water power
• 1:16:37
  station where they now mine Bitcoin and things like that.
• 1:16:40
  So we are also doing a lot of work to connect Bitcoiners in in
• 1:16:46
  on the continent. So if you want to support our
• 1:16:49
  work, please do so. We don't have any sponsors or
• 1:16:52
  something. You can support it by donating
• 1:16:55
  Bitcoin or Lightning, and that would be great if you did that.
• 1:17:01
  Awesome, love it Absolutely, guys, guys, check out Anita
• 1:17:05
  Push's work. You can go follow her on Twitter
• 1:17:07
  at Anita Push and guys go check out her initiatives, check out
• 1:17:12
  what she's doing. Definitely doing Satoshi's worth
• 1:17:15
  Satoshi's work and the continent of Africa really pushing, you
• 1:17:19
  know, the the, the benefits of the benefits of Bitcoin, the,
• 1:17:23
  the, the, the, the, the empowerment that Bitcoin can
• 1:17:26
  give you to communities that need it the most, right.
• 1:17:29
  So definitely support Anita, what she's doing, donate and
• 1:17:34
  help the cause. And I also want to thank her so
• 1:17:37
  much for coming on the show today.
• 1:17:39
  Huge fan of her work, like I said, and guys, you know the
• 1:17:42
  deal. If you guys enjoyed the show,
• 1:17:43
  you know what to do smash the like button.
• 1:17:45
  Consider subscribing if you feel like we provided you value, but
• 1:17:48
  the number one thing you can do to help push the peaceful
• 1:17:51
  Bitcoin revolution. Share Bitcoin content, share
• 1:17:54
  Bitcoin. You know, share stuff like what
• 1:17:56
  Anita is working on and that's really how we really move the
• 1:18:00
  envelope. We went over the hearts and
• 1:18:01
  minds of individuals all over the world.
• 1:18:03
  Anyways, love you all and we'll see you guys tomorrow for a
• 1:18:06
  brand new episode of Simply Bitcoin Live.
• 1:18:11
  Episode was brought to you by bitcoinwell.com on a mission to
• 1:18:15
  enable independence.