Latest / Simply Bitcoin / Donald Trump JUST Said YOU Need To Buy The Dip!! | EP 1219

Transcript

Donald Trump JUST Said YOU Need To Buy The Dip!! | EP 1219 · Simply Bitcoin

• 0:00
  Yo, after wiping trillions of dollars of capital off the
• 0:03
  global markets this week, Donald Trump just posted on Truth
• 0:07
  Social to not panic and to buy the buy the dip.
• 0:11
  That's right, the president of the United States is telling you
• 0:14
  guys to buy the dip. Does this mean the worst of the
• 0:17
  market crash is behind us? I don't know.
• 0:20
  Is Trump becoming more confident that he's about to get his wish
• 0:23
  and force Jerome Powell to cut interest rates and fire up the
• 0:27
  money printers? I want you to listen to the the
• 0:30
  audacity of Trump's tone in this new clip from last night because
• 0:34
  it might give us a clue of who's in the driver's seat of this
• 0:37
  global trade war. Let's check it out and then
• 0:40
  we'll talk about it. Because I'm telling you, these
• 0:43
  countries are calling us up, kissing my ass.
• 0:46
  They are. They are dying to make it to
• 0:49
  you. Please, please Sir, make it to
• 0:50
  you. I mean, the confidence there,
• 0:56
  the confidence you know, of, of Trump when he's saying that, I
• 1:01
  mean, like, it's definitely not calming the fires.
• 1:06
  And of course, I think we've seen like one of the worst.
• 1:09
  I, I was reading this on X earlier.
• 1:11
  We saw one of the worst. No, this is the worst stock
• 1:14
  market performance since a presidential election.
• 1:18
  Is this what he meant by making America great again?
• 1:22
  Is this what he meant about the start of the golden era?
• 1:26
  No, but in all seriousness, it's on purpose.
• 1:29
  Like he's the reason he's doing this is on purpose.
• 1:31
  He needs essentially Jerome Powell to change his stance.
• 1:34
  We're in a cute QT environment. He needs to change it to AQE
• 1:38
  environment so that he can fulfil his agenda.
• 1:42
  And by the way, I'm not the only one to think this as well.
• 1:45
  This has just been talking and this has been discussed for many
• 1:48
  months now. There's been incredible articles
• 1:50
  by Arthur Hayes, which we've read for you guys live on the
• 1:53
  show. Joining us today, by the way,
• 1:55
  everybody we got Danny Knowles in the house, the host of what
• 1:59
  Bitcoin did. I'm extremely excited to talk to
• 2:01
  him about it during the culture segment and of course, my
• 2:04
  legendary Co host who's always optimistic optimist field.
• 2:07
  So let's jump into what Bitcoin I say.
• 2:10
  I still can't use to say Bitcoin Twitter like it's I mean it's
• 2:15
  sounds weird saying Bitcoin X I'm gonna keep saying Twitter X
• 2:19
  Bitcoin like it sounds weird. Anyways, So what am I talking
• 2:21
  about? Let's pull up some of these
• 2:23
  truth social posts by President Trump.
• 2:26
  First one is he says quote, this is a great time to buy all caps.
• 2:33
  I could never have imagined in a million years the president
• 2:37
  saying, hey guys, it's a great time to buy.
• 2:40
  It kind of reminds me of like the 20/17/2018 era of the, the,
• 2:45
  the famous telegram groups. You know, it just kind of gives
• 2:48
  me those vibes. Second thing he said is be cool.
• 2:51
  He actually posted this this morning.
• 2:53
  He said be cool. Everything is going to work out
• 2:56
  well. The USA will be bigger and
• 2:59
  better than ever before. And this is one, this one I find
• 3:04
  hilarious. the United States has a chance to do something that
• 3:07
  should have been done decades ago.
• 3:10
  Don't be weak, don't be stupid. Don't be a panic in Optia.
• 3:14
  You're being a panic in a new party based on weak and stupid
• 3:18
  people. YouTube.
• 3:20
  That was the president, not me. Be strong, courageous and
• 3:23
  patient and greatness will be the results.
• 3:27
  And here's another clip. Again, he seems awfully
• 3:30
  confident. I'm proud to be the president
• 3:34
  for the workers, not the outsourcers.
• 3:36
  The president who stands up from Main Street, not Wall Street,
• 3:40
  who protects the middle class, not the political class, and who
• 3:44
  defends America, not trade cheaters all over the globe.
• 3:47
  They're trade cheaters. They cheated on us.
• 3:49
  They cheated with tariffs on us. So they took our jobs.
• 3:57
  Something, something, something to keep, something to keep in
• 4:00
  mind, right, Is that, and we've seen Treasury, Treasury
• 4:04
  Secretary Bessett say this as well when initially you had
• 4:08
  legacy media interviewing him saying like, listen, the market
• 4:11
  is crashing. And he just boldly said, like,
• 4:13
  listen, that sounds like a, you know, a, a mag seven problem,
• 4:17
  not a MAGA problem, right? And we often remember a lot of
• 4:20
  Trump's base comes from the middle class that has been
• 4:24
  absolutely gutted, you know, the last 50 years.
• 4:26
  And Trump's promises, listen, we're going to bring back those
• 4:29
  manufacturing jobs here. And part of his strategy and
• 4:33
  being able to do that is with these tariffs.
• 4:36
  But in the meantime, it's causing absolute market mayhem.
• 4:41
  Markets are melting down. Everywhere You saw the SNP
• 4:45
  chart, it literally looked like it was falling off a Cliff.
• 4:47
  But I would say the good news out of all this is that when all
• 4:51
  the dust settles, I believe Bitcoin might be the victor.
• 4:55
  And by the way, I'm not the only one to believe this as well.
• 4:58
  We had predominant figures from the industry saying this.
• 5:01
  They're saying, hey, listen, the Fed's not going to have a choice
• 5:04
  but to turn on the money printer.
• 5:05
  Again, we're going to start off with Arthur Hayes.
• 5:07
  But before we do that, I do want to give a shout out to the live
• 5:10
  stream. We already have 801 of you guys
• 5:12
  watching live and of course, the Rumble audience as well.
• 5:15
  If you guys are enjoying the show, make sure to smash that
• 5:17
  like button. Help us break 100 likes within
• 5:19
  the 1st 20 minutes of Simply Bitcoin Live.
• 5:22
  So first post by Arthur Hayes We are greenlit for Fed
• 5:26
  intervention and Opti. Could you describe what this is?
• 5:30
  I don't even know what charges is.
• 5:32
  In the in the Fed interest rate or something like that you're
• 5:36
  talking about? This.
• 5:37
  This morning where we're crafting the show, I don't.
• 5:38
  Know this? Don't.
• 5:39
  Leave me, don't leave me out hanging.
• 5:41
  I don't know what this exact chart is, but essentially what
• 5:44
  we've been seeing play out, or at least what the theory is
• 5:46
  going on around Twitter, whether you're in macro or Bitcoin, is
• 5:50
  that Trump has been trying to nuke the stock market so that we
• 5:54
  can get interest rates under control rather under 4%.
• 5:58
  It doesn't seem like it's working out exactly as planned.
• 6:01
  Interest rates have been booming yesterday.
• 6:04
  The stock market's been dumping. So there is a lot of crazy stuff
• 6:08
  going out in the markets right now.
• 6:09
  Interest rates, not even just in America, like in the UKEU,
• 6:12
  Japan, China, it is not reacting exactly as planned.
• 6:17
  So we will be seeing Jay Powell speak later in macro minutes or
• 6:20
  FOMC minutes. So it's going to be interesting
• 6:23
  to see if, you know, Jay Powell continues down a strong path.
• 6:28
  But it does look, and if you have more of these Arthur Hayes
• 6:30
  tweets, it does look like we are primed for the money printer to
• 6:33
  come on. So here we go.
• 6:34
  Yeah, 100% so and then it's not only Arthur Hayes saying this as
• 6:38
  well and I want to get the Danny's thoughts.
• 6:39
  So this is Arthur Hayes's post from I believe this morning or
• 6:43
  as yesterday said the Fed is on the clock.
• 6:45
  Shit is breaking down stocks down 10 year down good stocks
• 6:50
  down 10 year, 10 year old up bad market finally realizing that if
• 6:56
  there are less export dollar earnings, there cannot be
• 6:59
  treasury buying or stock buying Game over.
• 7:03
  We have James Lavish, she says. Good morning.
• 7:05
  As Treasury rates rocket higher, I suspect the basis trade is
• 7:10
  blowing up. So then the question is not if,
• 7:13
  but when does the Fed step in? We have Vijay Boyapati, he says
• 7:18
  when the dust settles, gold and Bitcoin will emerge as the big
• 7:21
  winners. Neither suffers margin
• 7:24
  compression from a trade war and both are ideal reserve assets
• 7:28
  and a multi polar world. Max Keiser says, quote, we are
• 7:32
  witnessing the World War three of trade wars.
• 7:35
  The winner is Bitcoin. So I mean, I believe like this
• 7:39
  is something that we were talking about, you know, before
• 7:41
  we went on air, just essentially like, you know, the winner after
• 7:45
  all the dust settles, we don't know how low the price is going
• 7:48
  to go is going to be Bitcoin. And I I believe he was talking
• 7:51
  to my dad earlier and he says Nico and he said something very
• 7:54
  similar to what Kaiser was saying is like, like, I believe
• 7:57
  this is like World War three, not kinetic with, with tanks and
• 8:00
  rifles and war, but it's it's trade war, right?
• 8:04
  It's in the name, I guess. So anyways, we have Danny
• 8:07
  Knowles in the house. Danny, what are your thoughts on
• 8:08
  this, bro? Absolute madness.
• 8:10
  I think one of the things that you told me, which was
• 8:13
  absolutely hilarious is like, you guys voted for this.
• 8:16
  Danny, welcome to the show. Welcome to the show, man.
• 8:18
  We're happy to, happy to have you join, you know, in this
• 8:21
  crazy, crazy kind of market macro environment.
• 8:24
  What's your take on what's going on?
• 8:26
  Yeah. Thank you for having me on the
• 8:27
  show, man. I mean, we all have to be tariff
• 8:29
  experts now, right? And I, this, I think this is
• 8:33
  like true economic warfare. Now, the, the interesting thing
• 8:37
  to me is that like as Bitcoiners, I think we've always
• 8:39
  been looking for the thing that blows up the Fiat Ponzi.
• 8:42
  And I don't want to jump the gun and say this is it, but this
• 8:45
  seems really serious. Like I think this is probably
• 8:47
  the most serious thing that's happened in kind of macro land
• 8:49
  in a long time. And what one of the things that
• 8:53
  I do agree with that that VJ said is potentially emerges from
• 8:55
  this is a woman, like when all the decoupling stuff was being
• 8:58
  talked about last week. Like I, I think that's way too
• 9:01
  early. Like Bitcoin is basically a pure
• 9:03
  player on liquidity right now. You can, you can see that like
• 9:06
  if you put liquidity of a Bitcoin chart, they basically
• 9:09
  are the same. And I think short term Bitcoins
• 9:11
  probably going to trade like the same way that everything else
• 9:13
  does. I think while everyone's getting
• 9:14
  margin cold and having to sell shit to cover this cover
• 9:16
  themselves, like Bitcoins going to fall.
• 9:19
  But when like the dust settles, everything's kind of played out.
• 9:22
  Maybe maybe people do see that bitcoins different and maybe
• 9:26
  that this is could be like the catalyst to Bitcoin trading more
• 9:28
  like gold rather than a risk asset.
• 9:32
  Yeah, and I think that's a really good point.
• 9:33
  Opti, could you pull up that that that chart?
• 9:35
  Because Danny, you know the the connection between there there's
• 9:41
  a correlation between global liquidity and the Bitcoin price.
• 9:44
  I believe Arthur Hayes was saying this as well.
• 9:47
  But doesn't that isn't that depressing in a way, Danny?
• 9:49
  Because like, doesn't that entail that essentially, like in
• 9:53
  order for the number to go up, it requires money printer to go
• 9:56
  Burr? Well, I mean, maybe it's
• 9:59
  depressing. Maybe it just shows us still
• 10:01
  really early, like, because at the end of the day, like we
• 10:04
  don't trade Bitcoin like his risk asset, we're buying this
• 10:06
  stuff and we're holding it. And I think as Bitcoin gets
• 10:09
  older and more and more people are doing that, I think that
• 10:11
  dynamic is definitely going to change.
• 10:13
  But for now, like money printing goes, but Bitcoin goes up, they
• 10:16
  start tightening, bitcoins goes down.
• 10:17
  And like that just is what it is.
• 10:19
  I think it's just part of like the monetization phase of
• 10:21
  Bitcoin. Yeah, And what do you, what do
• 10:23
  you believe, Danny? Because you know, you you've
• 10:25
  been in this industry for a long time now.
• 10:27
  Like I think a lot of us were kind of expecting Bitcoin to
• 10:31
  perform the Bitcoin to be a lot higher right now.
• 10:34
  And I think a lot like what I'm getting from from I'm just going
• 10:38
  to keep saying Bitcoin Twitter, I don't care.
• 10:40
  All right, just Bitcoin X sounds weird.
• 10:44
  What I'm the general consensus that I'm getting from Bitcoin
• 10:47
  Twitter, just like kind of reading everyone's account is no
• 10:50
  one has any idea what's happening right now, right?
• 10:53
  Like every single prediction or whatever got it completely
• 10:58
  1,000,000% catastrophically wrong.
• 11:02
  We're completely in uncharted territory.
• 11:05
  Is the OR the cycle's over, Danny, like what?
• 11:08
  What's going on? I remember watching this episode
• 11:10
  with on what Bitcoin did and it was you Peter and Chuck matey
• 11:15
  and you guys were placing bets right for this cycle.
• 11:18
  And I think the bets that you are placing like all of all of
• 11:21
  you guys are like anticipating like 250K300K Bitcoin by the end
• 11:26
  of this cycle. Like what is going on dude, The
• 11:30
  house is on fire. I mean, did the cycles ever
• 11:33
  exist? I don't think the cycles are
• 11:35
  probably over. I don't think the cycles maybe
• 11:37
  were driven by the things that people think they are.
• 11:39
  I think maybe they're liquidity cycles, not having cycles.
• 11:43
  And like I think to your point, like I think the expectations
• 11:46
  are the thing that kill us. Like if you like, the
• 11:48
  expectations are never right. So, and I'm always way too
• 11:51
  bullish. I'm like, I'm bullish to a
• 11:52
  fault. So like all you have to do is
• 11:54
  just stack Bitcoin and chill. But it's interesting on those
• 11:57
  checkmate bets we put, I can't remember what I said, I think it
• 12:01
  was maybe like 280K. I mean, it could still happen.
• 12:04
  It could go high, it could go lower, who knows.
• 12:06
  But like the interesting thing there is I think checkmates had
• 12:08
  250 and he's really pulled his numbers down now.
• 12:11
  So he's he's talking about like 150 now for this cycle.
• 12:16
  So we'll see. But like the truth is like off
• 12:17
  the back of these tariffs, this trade war, like it's basically,
• 12:21
  do you remember the thing where people will be like, what would
• 12:23
  win in a fight between a tiger and a grizzly bear?
• 12:25
  We might be about to find out like Trump and Chia staring each
• 12:28
  other down. One of them's got to back out.
• 12:30
  And who's that going to be? I don't know if it doesn't.
• 12:33
  Like you say we're not in kinetic war, but like, if no one
• 12:35
  backs down, who knows what the end of this is Like Say, say Qi
• 12:39
  starts selling all their treasuries.
• 12:41
  The treasury market's fucked. the Fed steps in, they print
• 12:43
  loads of money. Maybe China then goes and takes
• 12:44
  Taiwan. Who the fuck knows?
• 12:46
  Like this? This is like a really precarious
• 12:49
  time. And I think, I think the Fed is
• 12:51
  going to step in. I think last week, if you'd have
• 12:53
  asked me when this all started, I, I maybe would have even
• 12:56
  guessed the Fed would have stepped in already things maybe
• 12:59
  settling down. Like it seems like Lutnick's a
• 13:01
  fool. Like I when he came in, I
• 13:03
  thought he was really smart, but like, I don't know if you listen
• 13:06
  to him on the All in podcast, but he seems like a pure vibes
• 13:09
  man that just does what he thinks.
• 13:10
  And now Besant's coming back in and like stepping into these
• 13:13
  trade negotiations. So that would be interesting to
• 13:15
  see what happens here. I think he's going to try and
• 13:17
  calm everything down, settle the market a bit.
• 13:21
  But there's two things that I, I, I think are very unlikely and
• 13:25
  that's Chief stepping down in this negotiation and Trump
• 13:28
  stepping down. So who knows what happened?
• 13:30
  Yeah, man, it's a game of chicken between, you know, two
• 13:34
  of the most powerful, fearless men.
• 13:36
  You know, you don't get to those positions, you know, being weak
• 13:41
  and, you know, not being able to negotiate.
• 13:43
  So it's going to be really fascinating.
• 13:45
  And, of course, you know, Bitcoin price and just the
• 13:49
  entire global economy is just a collateral damage, which is just
• 13:54
  absolutely crazy. So, yeah, I mean, we'll see what
• 13:56
  happens. It seems like Trump still has a
• 13:58
  tremendous amount of support from his base.
• 14:00
  As a bitcoiner. I'm a little bit jaded.
• 14:03
  The reason is I think from a regulatory perspective, this has
• 14:06
  been one of the best cycles. We got Ross freed end of
• 14:10
  operation Choke .2 point O repeal Saab 121 So much bullish
• 14:14
  news, but he did promise us Bitcoin was going to go to the
• 14:18
  moon in Nashville. This is not the moon, man.
• 14:22
  This is not the moon. But one of one of the theories
• 14:25
  that I think is almost certainly true that I don't think is
• 14:29
  playing out how he expected was like, I think it's very
• 14:32
  believable that he wanted to crash equity, save the bond
• 14:35
  market. Maybe this was a play in that
• 14:37
  and it's clearly not happened. I think also like crashing the
• 14:41
  economy now, so we could try and blame on Biden.
• 14:44
  Very likely that was part of his plan.
• 14:46
  I think with the news on these tariffs, like I think he's blown
• 14:48
  that out of the water. Like this is clearly a Trump
• 14:50
  crash, not a Biden crash. But then the last part of that,
• 14:54
  which I think he will still try and do, is run it super hot into
• 14:56
  the midterms in 2026. So I think maybe the cycle just
• 15:01
  gets pushed back a bit. Maybe it's not like this year
• 15:03
  that we end up seeing a talk. Maybe it's 2026.
• 15:05
  That'd be great. You know, I'd be, I'd be, I'd
• 15:08
  be, I'd be totally about that. But again, you know, if for
• 15:11
  everyone who believe, yeah, I don't want to, I, I, I, I don't
• 15:14
  like talking negatively about specific people.
• 15:17
  But let's just say a lot of the a lot of the predictors of of
• 15:23
  certain cycles that get a lot of attention, you know?
• 15:27
  How we're looking at you. Let's just say they got it.
• 15:32
  Everyone got it 100% wrong, right?
• 15:36
  Like it just completely wrong. People were anticipating, like,
• 15:40
  I remember the vibes during the inauguration.
• 15:44
  It's been downhill since Trump launched his meme coin.
• 15:47
  Like, let's just be real. Like that's what's happened.
• 15:49
  He launched his meme coin. Bitcoin peaked at 1:09.
• 15:52
  It's just been downhill ever since.
• 15:53
  So yeah, very interesting times all around.
• 15:56
  I do want to give a shout out to the stream.
• 15:58
  We had 1700 of you guys watching live.
• 16:00
  We just broke 600 live viewers on YouTube alone.
• 16:03
  You guys are enjoying the show so far.
• 16:04
  Make sure to smash that like button.
• 16:07
  We just broke 100 likes. Help us break well, let's do 200
• 16:11
  likes by the time we get to the 30 minute mark.
• 16:13
  So smash that like button. If you guys are enjoying the
• 16:15
  show, you're listening to some of the Bitcoin live with Nico.
• 16:18
  Danny knows from what Bitcoin did and of course, my legendary
• 16:20
  Co host Optimus Fields in the house.
• 16:22
  Opti, do you have any opinions, takes feelings before we move on
• 16:26
  to the numbers segment? Yeah, I mean, I think we we
• 16:30
  actually said this before the show, Danny, Nico and myself.
• 16:33
  It's like, you know, as Bitcoiners, we've been talking
• 16:36
  about a scenario such as this, like we've all been saying for a
• 16:39
  long time that at some point the Fiat system dies and we're still
• 16:43
  in very uncertain times. But as Danny and I were kind of
• 16:46
  saying before the show, like it almost feels like this might be
• 16:48
  that moment. And I think a lot of us
• 16:50
  Bitcoiners were kind of expecting this to happen like,
• 16:52
  you know, 1020 years down the line.
• 16:55
  But if this is, you know, that moment, maybe it's happening in
• 16:59
  the next four to five years. Obviously I, I don't think it's
• 17:02
  over over, but it does seem like a very significant moment in
• 17:06
  time. And maybe, maybe we're just
• 17:07
  getting kind of caught up in all the hype right now.
• 17:10
  And in like 6 months we'll be like, oh, wasn't it funny when
• 17:12
  we thought the sovereign debt bubble was going to pop, you
• 17:15
  know, in the beginning of this year?
• 17:16
  And here we are, everything's back to normal.
• 17:18
  But it is very interesting to see what's happening.
• 17:21
  We are seeing a game of chicken play out right now between the
• 17:24
  United States and China. And it is going to be very
• 17:27
  interesting to see who backs down.
• 17:29
  Obviously Trump is doubling down and he's like, we aren't
• 17:32
  changing these tariffs. We saw him slap a what 104%
• 17:35
  tariff on China. XI seems to be doubling down.
• 17:38
  And what we're seeing in the bond markets right now, and I'm,
• 17:41
  I'm no macro expert, but you know, as Bitcoiners, like we
• 17:44
  have to become experts very quickly on all things financial.
• 17:47
  And it seems like now we're all tariff macro experts.
• 17:50
  And anyways, from what I can gather, it seems with what we're
• 17:53
  seeing in the bond markets right now, there is a a huge seller
• 17:57
  right now. A lot of people are speculating
• 17:58
  that maybe it's China. Other people such as like Tom
• 18:01
  Luanger saying maybe it's the UK that are selling U.S.
• 18:05
  Treasuries. So we're seeing something happen
• 18:07
  in the markets right now. Obviously, we won't know who it
• 18:10
  is or what it is until a couple of months from now.
• 18:13
  Obviously, in hindsight, we'll be able to tell what's
• 18:15
  happening. But in the moment, we can tell
• 18:17
  that there is something going on in the markets.
• 18:19
  And obviously we're seeing what's happening in the stock
• 18:21
  markets. All the boomers are freaking out
• 18:23
  out there. They're like, my retirement's
• 18:25
  gone. US Bitcoiners are like, yeah,
• 18:27
  well, at least you kind of. They had a retirement.
• 18:29
  Here we are just in Bitcoin. But I think the big what?
• 18:32
  What? What is?
• 18:34
  This. It's the finance pro in a slow
• 18:36
  factory. Crying about them songs.
• 18:39
  I think the biggest signal here actually, you know, Danny and I
• 18:42
  and we were kind of, we were all, I think even on Twitter,
• 18:44
  we're all kind of laughing about the fact that on Friday we kind
• 18:47
  of had this like, you know, jump of jubilation of saying like,
• 18:51
  oh, we finally recoupled and then on Monday just absolutely
• 18:54
  dumped. But I think the real story here
• 18:56
  is not necessarily Bitcoin decoupling from all of the
• 19:00
  equity markets or what have you, but that Bitcoin is actually
• 19:04
  performing very strong in the face of some kind of financial
• 19:08
  turmoil. The last time Bitcoin kind of
• 19:10
  faced something like this, Bitcoin dumped harder than all
• 19:13
  the other equities here. It seems to not have been pushed
• 19:17
  down as low, which I think is just it's like a, a credence to
• 19:21
  how strong the market is right now.
• 19:22
  You know, Bitcoin's at like 77 K.
• 19:24
  Yes, it's lower than we thought it would be, but in the face of
• 19:27
  what is going on and all the uncertainty and and the the
• 19:30
  rumors and the hype of a bloody Monday, Bitcoin's holding pretty
• 19:34
  strong. It it seems to have maybe
• 19:35
  bottomed out and we'll see what happens after.
• 19:38
  But it does seem like maybe we are.
• 19:40
  And I, and I hate to use the means of like, you know, the the
• 19:43
  new golden age or whatever, but I think what we might be seeing
• 19:46
  is a a very strong pivot in Mac micro markets.
• 19:50
  I know a lot of people that are more Trump friendly are saying
• 19:53
  that we're seeing a global monetary reset.
• 19:55
  And then the the corporate press and everyone else is saying
• 19:57
  like, oh, it's the end of markets.
• 19:59
  But it is very interesting when you kind of bring in the Bitcoin
• 20:02
  equation into all of this. The Trump administration has
• 20:06
  gone very pro Bitcoin and, and a lot of people could argue pro
• 20:08
  crypto. But if you guys see what like Bo
• 20:11
  Hines is saying, Scott Besson is saying.
• 20:13
  They're seemingly doubling down on Bitcoin right now.
• 20:17
  And if China is making moves to drop Treasuries, what else are
• 20:21
  they going to go to? Obviously, they're, they don't
• 20:23
  want U.S. debt. There's a trade war going on
• 20:25
  right now. Well, it seems like China, if
• 20:28
  they are dumping Treasuries, is probably going to go and acquire
• 20:32
  as much gold as possible. We know they have been acquiring
• 20:34
  gold, but the interesting wrinkle here is what if the US
• 20:38
  just moves away from gold, goes straight into Bitcoin and then
• 20:41
  China just gets left behind once again.
• 20:43
  Like this is all the the crazy new variables that we're seeing
• 20:47
  play out right now. And I think it is very
• 20:50
  interesting that now we've been saying for a while, Bitcoin has
• 20:53
  hit the mainstream. We've had we've hit the world
• 20:56
  stage. Now, obviously Bitcoin's still
• 20:58
  like a pimple on the global liquidity macro markets.
• 21:01
  But it is interesting that there is this escape valve, which is
• 21:05
  Bitcoin and the Trump administration is moving
• 21:07
  seemingly more pro Bitcoin while other countries are just moving
• 21:10
  away from U.S. Treasuries and maybe going back
• 21:12
  to gold. So things are getting crazy out
• 21:15
  there. Obviously, we don't know exactly
• 21:17
  what Trump was saying to, you know, buy what dip exactly, but
• 21:21
  he just said this is a good time to buy.
• 21:23
  And as a Bitcoiner, we all know what he means.
• 21:25
  You got to buy the dip in Bitcoin.
• 21:27
  This is the best time to be buying Bitcoin in all the face
• 21:29
  of the macro uncertainty. The only thing to really own is
• 21:32
  Bitcoin. So, hey, you know, we're taking
• 21:35
  some some journalistic liberties here.
• 21:37
  And Trump said, buy the dip in Bitcoin.
• 21:40
  Don't buy stocks, don't buy treasuries.
• 21:42
  You need to be acquired. Don't get figured out.
• 21:45
  He did say buy the dip. He did say buy the dip.
• 21:49
  He did say buy the dip. Opti, on that point, like when
• 21:53
  you're saying like China may be selling treasuries like they may
• 21:56
  be, I have no idea. I'm no micro expert either.
• 21:58
  But my guess is what's actually happening in the treasury market
• 22:01
  is the basis trades blowing up like James Levy said, like I
• 22:04
  think like so that's basically just super leveraged hedge funds
• 22:07
  operating in the treasury market.
• 22:08
  And the thing like the one outcome that I do know from that
• 22:11
  is the Fed is not going to let the treasury, the market go, no
• 22:14
  bid. And I think the market has
• 22:15
  already been pretty squirrely. And so I think the chance of the
• 22:18
  Fed stepping in in the short term are like very high.
• 22:22
  Yeah, yeah, yeah. That's the general I mean,
• 22:25
  that's good, right? Money printer go bird number go
• 22:27
  up. Right.
• 22:28
  I mean, it's good for us. I don't know if it's good.
• 22:31
  Well, actually that's a that's a funny conversation because we,
• 22:35
  we Nico, I don't mean to cut you off, but we were just in Dallas
• 22:38
  for bitlock boom and we were talking with Ruston about this
• 22:41
  and he's like, if we're so against the money printer going
• 22:44
  Burr, like, why are we kind of excited that the, you know,
• 22:48
  global liquidity is going to pump Bitcoin?
• 22:49
  And it's like, well, on the one hand, you know, them printing
• 22:52
  and debasing the currency will probably make society like worse
• 22:55
  and everyone's going to be poorer.
• 22:56
  But on the Bitcoin front, you're like, they're going to pump our
• 22:58
  bags. So it's not something we want to
• 23:00
  happen. It's just something we know is
• 23:01
  going to happen. If they print a bunch of
• 23:04
  liquidity, whether it's the US or China or, you know, any, any
• 23:08
  Fiat money printer gets turned on, it's going to make the
• 23:10
  Bitcoin price go up. But Main Street, everyone that's
• 23:14
  not in Bitcoin like they're they're, you know, quality of
• 23:17
  life will probably go down because their purchasing power
• 23:20
  is going down. So it's not something we want to
• 23:22
  happen. It's just like, hey, this is how
• 23:24
  it works out. People are going to get poorer,
• 23:25
  but if you're in Bitcoin, you will probably get richer.
• 23:28
  So it's kind of one of those things like this might not be a
• 23:31
  good thing, but it pump our bags.
• 23:33
  I don't. Know, can I just very quickly
• 23:34
  call absolute bullshit on the Wall Street versus Main St.
• 23:38
  narrative? Like, can we all agree that this
• 23:40
  is, this is absolutely just political rhetoric that Trump's
• 23:43
  using to try and cover his back from this thing that's been
• 23:45
  incredibly damaging so far to Wall Street.
• 23:47
  But if this plays out, it's also going to be damaging to Main
• 23:50
  Street. So people need to stop believing
• 23:52
  this narrative. It's political, political
• 23:54
  rhetoric and it's bullshit. Yeah, I mean, I, I, I don't
• 23:58
  think. I don't think, I think it was a
• 24:02
  good theory in his head. I don't think he expected these
• 24:05
  market downturns. And I, I, I would agree with
• 24:08
  you. Like the, you know, this is,
• 24:09
  this is for Main Street. But again, like, if Wall Street
• 24:12
  takes a big hit, a lot of these companies are going to start
• 24:16
  firing people, right? Like they're going to have to
• 24:18
  start, you know, doing layoffs, like that's not good in general.
• 24:21
  So, yeah, I, I, I, I definitely agree with, with, with that
• 24:25
  outlook. Anyways guys, we just broke 2000
• 24:28
  live viewers across all platforms.
• 24:30
  If you guys are enjoying the show so far, make sure to smash
• 24:32
  that like button. On YouTube alone we have 650
• 24:35
  live viewers. And of course, shout out to the
• 24:38
  hardcore Rumble audience that all they do is make fun of being
• 24:41
  off. But we love you guys.
• 24:42
  It's the most hardcore audience anyways, smash the like button.
• 24:45
  Before we get into the numbers segment, I do want to give a
• 24:47
  shout out to Simply Bitcoins lead sponsor.
• 24:50
  The best place to build your automatic self custody Bitcoin
• 24:53
  stack bitcoinwell.com buy real Bitcoin enable your independence
• 24:57
  of the fastest and safest way to buy Bitcoin on chain or via the
• 25:00
  lighting network in Canada in the USA.
• 25:02
  To get started, you put in your e-mail address and bada Bing
• 25:05
  bada boom, within 2 to 5 minutes you get signed up, you get
• 25:07
  approved, you're ready to buy Bitcoin.
• 25:08
  And what makes Bitcoin well different is that it's a
• 25:11
  completely non custodial platform.
• 25:12
  What does that mean? That means that when you buy
• 25:14
  Bitcoin on Bitcoin, well, as soon as the funds clear, it goes
• 25:17
  straight to yourself. Custody Bitcoin wallet address.
• 25:19
  If you're a higher net worth individual looking to buy
• 25:21
  $50,000 worth of Bitcoin or more and you want a white glove
• 25:25
  service, you want a dedicated Bitcoin representative or
• 25:28
  advisor, you have to check out Bitcoin Well Infinite.
• 25:32
  To get signed up, go to bitcoinwell.com/OTC.
• 25:36
  And again, if every time you buy Bitcoin on Bitcoin Well, you
• 25:39
  earn Bitcoin Well points. So every time you toss a coin
• 25:43
  into the wishing well, you have an opportunity to win up to
• 25:45
  1,000,000 SAT's. We're doing it live for you guys
• 25:47
  right now. First person to scan the QR code
• 25:49
  has won 210 SAT's. If you use promo code simply BTC
• 25:53
  or go to bitcoinwell.com/simply, you get 3 tosses into the
• 25:57
  Bitcoin Wishing Well absolutely free.
• 25:59
  So go to bitcoinwell.com/simply today.
• 26:02
  Alright everybody, let's hit the numbers.
• 26:04
  We have tons to talk about. We will be right back.
• 26:12
  I want to tell you guys about our sponsor Stamp Seed.
• 26:16
  Is your Bitcoin and cold storage really secure?
• 26:19
  Are your seed words really secure?
• 26:22
  Stamp Seeds Do it You want to literally stamp your
• 26:38
  seed into this plate of titanium.
• 26:42
  Your words are actually stamped into the metal plate with this
• 26:45
  hammer. So once your words are in, they
• 26:48
  aren't going anywhere. No risk of the plate breaking
• 26:51
  apart and your pieces falling everywhere.
• 26:54
  Titanium stamp seeds will survive nearly triple-A heat
• 26:58
  produced by a house fire. They are also crush proof,
• 27:01
  waterproof, non corrosive and most importantly, because this
• 27:05
  is generational wealth time proof, all things that paper is
• 27:11
  stocks allowing you to huddle your Bitcoin for the long haul.
• 27:15
  I mean, here is the plate that they crushed, they put in water,
• 27:20
  they put a blowtorch to it and as you can see, the words have
• 27:24
  survived. Stamp your seed on stamp seed
• 27:28
  and you can use promo code simply to get 15% off anything
• 27:32
  on their store. Head over to stampse-ed.com
• 27:35
  today. All right everybody, we are
• 27:41
  back. You guys could stamp, not stamp.
• 27:44
  You guys could scan the QR code. Go to Go to stampse-ed.com
• 27:48
  today. Use promo code Simply get 15%
• 27:50
  off anything on the store. Store your generational wealth
• 27:53
  the right way, the correct way. Stamp your seed into titanium.
• 27:57
  Don't write it down on paper. At the time of recording, the
• 27:59
  Bitcoin price is $78,290.00 block height 891,662 stats per
• 28:06
  dollar 1277 market cap 1.55 trillion Bitcoin versus gold
• 28:10
  market cap 7.16% percentage issued 94.51% decline from all
• 28:16
  time high -28.3%, almost a 30% dip, 30% discount depending on
• 28:23
  how you look at it. And my, my favorite stat out of
• 28:25
  all of this, the realized monetary inflation rate of
• 28:28
  Bitcoin is currently sitting at .87%.
• 28:32
  Even if central banks around the world are able to get it back to
• 28:35
  that mythological, that very special 2% number that no one
• 28:39
  could explain why it's 2% percent, Bitcoin is still way
• 28:42
  lower and it continues to go down forever.
• 28:44
  When me and Opti started covering this, it was at 3%.
• 28:47
  Could you imagine that? Anyhow, it's Speaking of the
• 28:50
  orange man, orange man, orange coin and a topic that we always
• 28:54
  like something we always talk about on this show in in regards
• 28:58
  to the theme, the Overton window.
• 29:00
  And for anyone who doesn't know the Overton window, if you guys
• 29:02
  are new to simply Bitcoin, if you guys have been tuning into
• 29:05
  simply Bitcoin for a long time now, it's the time to take a
• 29:07
  shot because Nico said Overton window.
• 29:09
  But if you guys are new, the Overton window is essentially
• 29:11
  the the acceptable window of discourse.
• 29:15
  And the reason that that's so important is our job as
• 29:17
  Bitcoiners is really to continue moving that Overton window to
• 29:21
  the point where, you know, Bitcoin seems, it doesn't seem
• 29:24
  like this radical idea, self custody doesn't seem like this
• 29:27
  radical idea. But the reason I'm bringing this
• 29:29
  up is there's been multiple times where President Trump has
• 29:33
  brought up 19131913 was the year that the Federal Reserve was
• 29:38
  established in the United States.
• 29:39
  It was also the year that the federal income tax was
• 29:44
  implemented. Now, we've heard interviews with
• 29:46
  with Howard Leupnick that a lot of the goal from these tariffs
• 29:51
  is to seek alternative revenue sources that are not income tax.
• 29:56
  And we saw Howard Lutnick drop in an interview, basically make
• 30:00
  the case of like, how amazing would it be so that anyone who
• 30:04
  is earning up to $150,000 doesn't pay income tax.
• 30:08
  Now, is this possible? Is this feasible?
• 30:11
  I don't know. But in terms of moving the
• 30:14
  Overton window, I think it's definitely moving it in the
• 30:16
  right direction, at least for the Bitcoin cause.
• 30:20
  So I'm going to play you guys this clip of the President of
• 30:23
  the US. This has never happened before
• 30:24
  really basically talking about the idea of abolishing the
• 30:28
  income tax. So let's check it out and then
• 30:30
  we shall discuss it. America is going to be very rich
• 30:35
  again, and it's going to happen very quickly.
• 30:37
  It's time for the United States to return to the system that
• 30:40
  made us richer and more powerful than ever before.
• 30:43
  You know, the United States in 1870 to 1913 all tariffs and
• 30:49
  that was the richest period in the history of the United
• 30:52
  States, relatively speaking. In other words, relatively and
• 30:56
  we they set up the great Tariff Commission of 1887 and this
• 31:03
  Commission had one function what to do with all the money that we
• 31:07
  took in. It was so enormous that they had
• 31:10
  no idea it was a blue ribbon committee was set up 1887 and
• 31:14
  what to do with all of the money that we had.
• 31:18
  And again, Teddy Roosevelt was a beneficiary because when
• 31:22
  McKinley was killed, he took over this vast sum of money and
• 31:27
  he did all of those national parks and all of the other
• 31:30
  things. And I'm not knocking him, but he
• 31:32
  was given a vast amount of money.
• 31:34
  And that was all made through tariffs as a we had no income
• 31:37
  tax. The income tax came in in 1913.
• 31:40
  As I said in my speech last week, instead of taxing our
• 31:43
  citizens to enrich foreign nations, we should be tariffing
• 31:47
  and taxing foreign nations to enrich our citizens.
• 31:53
  So, I mean, I have some thoughts here.
• 31:56
  How has that worked out so far? That that that's my initial
• 32:01
  thought. Like it, it doesn't like, you
• 32:06
  know, it's a great theory, right?
• 32:09
  I wasn't around the 1800s, so I don't know how that was
• 32:13
  functioning. I don't know how this is working
• 32:14
  out. Clearly, a lot of things have
• 32:16
  changed since then. The social safety Nets of a lot
• 32:19
  of these societies have gotten bigger.
• 32:21
  I know in the UK it's a little bit different, but here in the
• 32:23
  US it's Medicare and Social Security.
• 32:27
  So how are they are, are they able to be funded by, by tariffs
• 32:32
  alone? Trump seems to think so.
• 32:35
  I, I think for, you know, you know, the, the, the average Joe
• 32:40
  in the US, getting rid of the income tax for up to people, for
• 32:44
  people that make up to 150 Ki think that would be extremely
• 32:47
  beneficial. And if you actually look at the,
• 32:49
  the statistics, the majority of the income tax is actually paid
• 32:53
  by the 1%. It's actually paid by the
• 32:57
  highest tax bracket already, right.
• 32:59
  And then like if you talk about like proportionate income,
• 33:03
  right, I think it's incredibly important because if you're
• 33:06
  making 150K and let's say you're getting taxed, you know, 30
• 33:09
  forty, $50,000 out of that 150K versus if you're making, you
• 33:14
  know, $2,000,000 and you get taxed 500 or $750,000.
• 33:17
  It, it, it hurts the person making less money significantly
• 33:22
  more because they need all of it, right?
• 33:25
  So anyways, that's my take on that.
• 33:28
  I think it'd be awesome. Let's see if he pulls it off so
• 33:32
  far, you know, craziest market downturn since the president has
• 33:36
  been elected. Danny, would love to hear your
• 33:40
  thoughts on this man. I mean, I'm no tax expert, but
• 33:45
  like, don't get me wrong, I'd love to see income tax abolish,
• 33:50
  but like when you're comparing it to the 1800s, I, I don't know
• 33:53
  how fair that is. Because like how many people are
• 33:56
  buying shit from Amazon and Timo and all these places like the US
• 33:59
  is so reliant on China and the rest of the world for everything
• 34:03
  they're doing. Like if you're going to reassure
• 34:06
  industry, you got to reassure it quick.
• 34:07
  And like, is he going to reassure industry to the, to the
• 34:09
  degree that he needs to in the next 4 years to kind of do
• 34:12
  anything? The truth is, like Trump, Trump
• 34:16
  seems to follow through on a lot of stuff he says.
• 34:18
  So I'm not going to fade that. But this is one that I think is
• 34:22
  probably highly unlikely. Yeah, yeah, I mean, but I.
• 34:25
  Think the world has changed so much from the 1800s like you
• 34:28
  can't even compare it. 100% I I agree and it would be nice, but
• 34:35
  is it feasible? I think that that's the
• 34:37
  question. But I will say it definitely has
• 34:40
  moved the Overton window in terms of raising awareness about
• 34:43
  the Federal Reserve and about income taxes in general.
• 34:47
  And I think just by raising awareness, I think you can go
• 34:50
  down the rabbit hole of like, you know, are those taxes being
• 34:55
  used efficiently, right? Because I think that's a really
• 34:57
  kind of important discussion to have, right?
• 34:59
  And they're not, right. I think that's what Doge has
• 35:01
  uncovered. I think most develop modern
• 35:04
  Western democracies. A lot of that money is wasted,
• 35:07
  in my opinion, Yeah. But the even like with those we
• 35:10
  know austerity is massively politically unpopular.
• 35:13
  Like, I think the vision of those to get rid of, like
• 35:15
  corruption in the government is amazing, but how long will that
• 35:19
  even remain feasible? I don't know.
• 35:20
  Like, that's something that I think will probably fall by the
• 35:23
  wayside relatively quickly because like, they had austerity
• 35:25
  here in the UK for a long time and everyone hated the
• 35:28
  Conservatives for it. And I think, like, the truth is
• 35:31
  people vote for the person that's offering them the most
• 35:33
  money, and people aren't going to continue to vote for
• 35:35
  austerity and things like that. And so I don't know, I'd love to
• 35:39
  see it. I don't think it's going to
• 35:40
  happen. Yeah, no, I think that's a great
• 35:42
  take. Opti, what's your take on this?
• 35:45
  Is, is Trump trying to move the Overton window to eventually end
• 35:49
  the Federal Reserve? He's definitely saying bluntly,
• 35:52
  hey, hey, hey, guys, Make America great again.
• 35:55
  We're going to get rid of the income tax.
• 35:56
  What's your take on this man? Is this bullish?
• 35:59
  Is this bearish? I mean, I will say that so far
• 36:04
  this has not felt very good from a bitcoiners perspective.
• 36:09
  Yeah. I mean, look, obviously, as any
• 36:12
  of us Bitcoiners would say, I would love for this to happen.
• 36:16
  I, I do, I know if it's feasible to happen.
• 36:19
  I don't think so. I think Danny Hit has a good
• 36:21
  point of saying like, look, you know, the end of the 1800s is
• 36:24
  totally different than where we are now.
• 36:26
  So we're obviously in a whole new paradigm here.
• 36:28
  But what I love for to see this happen, yes, what do I know?
• 36:31
  It's possible or feasible. What do I know?
• 36:34
  Do I know the impacts of that? Like, no idea, but as a citizen,
• 36:37
  I'd be like, yeah, that's, this sounds great.
• 36:39
  But I think the I think the main point here, and we've seen Trump
• 36:42
  double down on saying this the last week.
• 36:45
  It's just talking about 1913 in general.
• 36:47
  This has been like a Bitcoin talking point for a long, long
• 36:50
  time. Obviously it's, it's funny how
• 36:53
  the first time he said it, he's like, oh, you know, and then
• 36:55
  something happened in 1913 for, you know, for some reason that
• 36:59
  no one on planet Earth understands and us Bitcoiners
• 37:01
  like guys, we know exactly what happened in 1913.
• 37:04
  Now the fact he's saying that, that that date again, I think
• 37:07
  it's very interesting because maybe, you know, this is, this
• 37:10
  is and, and you know, we're getting everyone drunk on a
• 37:12
  Wednesday here. Like this is shifting the
• 37:14
  Overton window. I'm sure a lot of people out
• 37:16
  there haven't thought about the date of 1913.
• 37:18
  They probably don't know the significance of it.
• 37:20
  But the fact Trump keeps kind of doubling down on that date, I
• 37:23
  think is opening up like more people to ask, like, why is that
• 37:27
  date important? We as big corners have been
• 37:29
  talking about a few dates in particular, Obviously 1913, the
• 37:32
  creation of the Federal Reserve and then 1971, you know, when
• 37:36
  when Nixon took us off the gold standard.
• 37:37
  Like these are very important dates for bit corners because it
• 37:40
  explains a lot of the things that we're seeing play out right
• 37:43
  now in the current economic landscape.
• 37:46
  And so the fact we are still or rather the fact that Trump is
• 37:49
  gone, kind of like going going down that rabbit hole.
• 37:52
  And maybe, you know, I again, I hate being the like, trust the
• 37:55
  plan, bro, you know, 5D chess bro here.
• 37:58
  But he is hitting on that date particularly.
• 38:01
  And I'm I I think he's going to continue to do that.
• 38:03
  Will he eventually get to like where Musk was, you know, yeah,
• 38:06
  the date 1930s and important. This is why we got to end the
• 38:09
  Fed. Like, I doubt that, but I like
• 38:11
  that he is continuously talking about that date because now
• 38:16
  people will be able to connect the dots. 1913.
• 38:18
  Why is this important? Obviously he's talking about
• 38:20
  tariffs. But for us, Bitcoin is like,
• 38:22
  this is when the Fed was created.
• 38:24
  This is why the World War 2, you know, military machine,
• 38:28
  industrial military complex is what it is today.
• 38:31
  And few people understand that. You know, a lot of us
• 38:34
  Bitcoiners, this is one of our Bibles, like reading the
• 38:36
  creature of Jekyll Island. But for the average person, they
• 38:39
  they've never heard the what how the creation of the Federal
• 38:42
  Reserve came about out all the different political maneuvering
• 38:45
  that happened to create the Fed is the Fed even federal doesn't
• 38:48
  even have reserve. Like these are still like off
• 38:51
  the cuff Bitcoin off the reservation talking points that
• 38:54
  the majority of people don't even talk about.
• 38:57
  They don't even consider. And here we are like it does
• 39:00
  seem, you know, being a little favorable.
• 39:02
  Like we are entering this monetary reset that a lot of
• 39:05
  bitcoiners have been talking about.
• 39:07
  And obviously as a bitcoiner, I'm like, yeah, like this is
• 39:10
  what we need to do. Are we getting that far now
• 39:12
  where he's where Trump's going to be?
• 39:14
  Like, yeah. And the income tax, you know,
• 39:16
  and the Fed, I I highly doubt it.
• 39:18
  But there was a funny, funny meme, I forget who said it on
• 39:21
  Twitter. It's like, you know, Trump's
• 39:22
  been talking about ending capital gains.
• 39:24
  He just didn't tell us how he's going to do that, destroying
• 39:28
  capital gains in general. So who knows what's going on.
• 39:31
  You know, the what's Musco? He says like the the most
• 39:35
  likeliest outcome is the funniest outcome.
• 39:37
  And, and here we are. US bitcoiners are having a blast
• 39:40
  while markets are are freaking. I was literally telling
• 39:42
  everyone, I'm like, this is the most fun I've had in Bitcoin in
• 39:45
  a long time. And it really has nothing to do
• 39:47
  with Bitcoin. Bitcoin's just doing its thing.
• 39:49
  Markets are blowing up. The boomers are freaking out.
• 39:51
  You know, the corporate press is attacking Trump.
• 39:54
  Trump's, like, you know, every country's kissing my ass.
• 39:56
  And I'm like. This is this.
• 39:58
  Is the funniest outcome for us Bitcoiners.
• 40:00
  We're just chilling. Bitcoin's doing its thing, you
• 40:02
  know, TikTok, next block. And it's just great to see
• 40:05
  everyone else starting to wake up to, hey, there may be a
• 40:08
  fundamental problem here. And as Bitcoiners like, yeah,
• 40:10
  dude, it's the money. It's broke and stupid like.
• 40:13
  It's very simple. It's as simple as outcome ever
• 40:15
  There is more debt than dollars in the system.
• 40:17
  This cannot sustain. This is why we're bitcoiners in
• 40:20
  the first place. Amen.
• 40:22
  I love the chaos. You got to embrace the chaos.
• 40:24
  But I think there is there's one question that I think is worth
• 40:26
  asking and I don't know the answer to.
• 40:28
  It is like with I think Elon Musk probably actually believes
• 40:32
  in the Fed. I don't think Trump does.
• 40:34
  Like, I think the question is like, does Trump want to end the
• 40:36
  Fed or does he want more control over the Fed?
• 40:38
  Because him and Jerome Powell have been butting heads over and
• 40:41
  over again. And if Trump did end the Fed to
• 40:44
  some degree, what comes after that?
• 40:45
  And is it like does he want just additional control over the
• 40:49
  monetary supply basically? I think he want.
• 40:51
  I think that's it. First of all, it's an amazing
• 40:52
  point. I think he wants control of the
• 40:55
  Fed. I think he, that he, the way he
• 40:58
  posts the tweet, he's like, I think he's bluntly said this on
• 41:01
  truth socials. Like why is, you know, like, why
• 41:03
  is he not doing this? He's attacking.
• 41:05
  I think every, any president would, could you imagine the,
• 41:08
  the type of power if the president had the ability to hit
• 41:12
  the print button too? I mean, and, and I think that
• 41:14
  would be catastrophic too, because every single president
• 41:16
  would just use that to like make sure that they win the next
• 41:19
  election. So yeah, no, I think I I think
• 41:23
  he he definitely, definitely, definitely wants more control of
• 41:27
  it. But the reason that Opti and I
• 41:29
  were theorizing about, you know, Trump potentially wanting to end
• 41:32
  the Fed was because of one of the speeches that he's made
• 41:36
  where essentially he he he referenced the year 1913 and
• 41:41
  that something horrific happens and that no one like he jokingly
• 41:45
  said that like, you know, no one knew.
• 41:48
  No one knew exactly what happened.
• 41:50
  But like, I don't essentially he alluded to it.
• 41:52
  And then there was Elon Musk was campaigning for this election,
• 41:58
  Wisconsin, and someone bluntly asked him, like Elon, like, you
• 42:03
  know, what do you think about the Federal Reserve?
• 42:04
  And then Elon just like jokingly said, he said like, and fed and
• 42:08
  fed. And he was basically making the
• 42:11
  case. I like, look, it's tremendously
• 42:13
  wasteful. And somehow the answer ended up
• 42:17
  in him pitching doge, right? So he got asked about the
• 42:20
  Federal Reserve and he was pitching doge, right?
• 42:22
  And if you kind of connect the 2, like the reason I think
• 42:26
  governments are able to be so wasteful in the 1st place is
• 42:29
  because they have the central banks is because they have these
• 42:32
  money printers. I think if you took away, you
• 42:34
  know, if you, if bitcoiners get what they want and the
• 42:37
  separation of money and state and etcetera, etcetera, like
• 42:39
  it's going to be very difficult for a government to just, you
• 42:42
  know, print money out of, out of nowhere.
• 42:43
  The only way they're able to get revenue is through direct
• 42:47
  taxation, and you can only increase taxation so much before
• 42:51
  it just becomes politically unfeasible.
• 42:52
  It just becomes so unpopular. So, I mean, he's alluding to it,
• 42:57
  but that's the question. Is he?
• 42:58
  Is he actually, does he actually want to do that or does he just
• 43:01
  want more control of it? I would say he wants more
• 43:03
  control in my opinion, that's a lot of power to give up in my
• 43:07
  you know. So anyhow, guys, it's a great
• 43:10
  show. We got 2500 of you guys watching
• 43:12
  live between all platforms. We're at 667 live viewers on
• 43:17
  YouTube alone. We already blew past 200 likes.
• 43:19
  Help us reach 300 likes by the time the show ends.
• 43:23
  You're listening to simply Bitcoin.
• 43:25
  I'm your host Nico. Our special guest today is Danny
• 43:27
  Knowles from What Bitcoin Did and of course my legendary Co
• 43:30
  host Optimus Fields. We're going to hit the new
• 43:32
  segment. We still have a ton to talk
• 43:34
  about. And then we're going to hit the
• 43:35
  culture segment. We're going to talk to Danny
• 43:36
  about what Bitcoin did. He took it over.
• 43:38
  He's been doing an incredible job.
• 43:40
  So we still have a ton of content for you guys.
• 43:42
  Stay tuned, we will be right back.
• 43:46
  I want to give a shout out to our sponsor Casa.
• 43:49
  Bitcoin security matters, but managing private keys can
• 43:52
  sometimes be complicated, especially multi sig.
• 43:54
  What if you can secure your Bitcoin without worrying about
• 43:57
  losing a seed phrase or giving up custody?
• 44:00
  With Casa, you can completely control your Bitcoin with multi
• 44:04
  key security. So even if one key is lost or
• 44:07
  stolen, your funds stay safe. No single point of failure, no
• 44:12
  stress. That's what I absolutely love
• 44:14
  about these guys. They make taking Bitcoin and
• 44:16
  into self custody incredibly easy with their best in industry
• 44:20
  user experience through their app.
• 44:22
  I've been personally recommending Casa for years now
• 44:25
  to my friends and family because they will get all the benefits
• 44:28
  of multi key self custody security without the hassle of
• 44:32
  having to learn complicated UI. And if you're thinking of one
• 44:35
  day passing on your Bitcoin to the next generation, their
• 44:38
  inheritance plan has you covered.
• 44:40
  Also, if you're a business looking to add Bitcoin to your
• 44:44
  treasury, do it the secure way with Casa.
• 44:46
  For business to get started, go to Casa dot IO today and get 5%
• 44:51
  off Casa Standard or Casa Premium with promo code simply.
• 45:01
  I want to give a. Shout out to our partner coin
• 45:04
  Kite. If you take your Bitcoin
• 45:06
  security seriously, you'll need the best Bitcoin hardware wallet
• 45:10
  on the market to take self custody that's where cold card
• 45:13
  comes in The cold card Q is the most advanced Bitcoin signing
• 45:17
  device ever made. It's got a full keyboard, larger
• 45:21
  screen and NFC support, making air gap signing easier than
• 45:25
  ever. It's built for power users who
• 45:27
  want the ultimate security without sacrificing usability.
• 45:31
  And if you're looking for a battle tested on compromising
• 45:35
  cold storage, the Cold Card MK4 is your go to.
• 45:39
  With PSBT signing an industrial grade secure element and USBC,
• 45:44
  it's the perfect blend of security and convenience.
• 45:47
  Both devices are of course, 100% Bitcoin only open source and
• 45:52
  built by Bitcoiners for Bitcoiners.
• 45:55
  Secure your Bitcoin the right way with the Cold Card queue and
• 45:59
  the MK4. Head over to coldcard.com today
• 46:02
  and use promo code simply to get 5% off anything on the store.
• 46:11
  All right everybody, this is Opti.
• 46:13
  If you use promo code simply you won't get Opti.
• 46:24
  Oh, it looks like we lost Nico. It looks like a Puerto Rico
• 46:26
  power outage is out. Get yourself one of these guys.
• 46:29
  It's the best. It's the best hardware wallet on
• 46:32
  the market. Is Nico back?
• 46:34
  Let's see. Sorry guys, I'm in Puerto Rico.
• 46:38
  Yeah, guys, go check out. Actually, it's not 5% right now.
• 46:42
  Puerto Rican Internet. I apologize everybody.
• 46:44
  It's a little bit spotty. Anyhow, I'm back guys.
• 46:47
  It's actually not 5% today. There's a special deal if you,
• 46:52
  if you go to coldcard.com today, you get 20% off everything on
• 46:57
  the store. So there's a special deal on
• 46:59
  cold cards for today. You don't get 5%, you get 20%
• 47:03
  off anything on the cold card store.
• 47:05
  So head over to coinkite.com today.
• 47:07
  Cold card, get yourself the best Bitcoin wallet in the industry.
• 47:11
  Scan the QR code or check the link in the video description.
• 47:15
  Anyways, let's talk about Sweden.
• 47:17
  I guys, initially I was going to play you guys the, the video
• 47:20
  because they make the announcement.
• 47:22
  The problem is that like a lot of our listeners are, are, are a
• 47:26
  lot of a lot of us people, a lot of you guys listen to us rather
• 47:30
  than view us on the podcast. And I'm assuming a lot of you
• 47:34
  guys don't speak Swedish. So this is like the original
• 47:38
  announcement, but it's in Swedish.
• 47:40
  So they're basically urging, you know, it's it, it has captions
• 47:44
  and stuff. But, you know, Swedish MP urges
• 47:48
  the country central bank to create a strategic Bitcoin
• 47:51
  reserve. This is a trend moving among
• 47:53
  nations. And here's the video of him
• 47:56
  doing just that. And Swedish sounds really cool.
• 47:59
  I just don't understand it, but that's the video.
• 48:03
  Here's the actual headline. Swedish member of Parliament
• 48:06
  Rickard Norden has asked Oh my God, what is that?
• 48:10
  Devon, Finance Minister to diversify foreign currency
• 48:14
  holdings into Bitcoin A recent written question submitted to
• 48:17
  the Swedish Rickstock is sparking renewed debate about
• 48:22
  how the country manages its foreign exchange holdings.
• 48:25
  The query posed by members of Parliament Rickard Norden,
• 48:28
  centers on whether Sweden should consider including BTC and its
• 48:32
  official foreign exchange reserve quotes.
• 48:35
  In light of this, I would like to ask Minister of Finance
• 48:39
  whether she and the government are prepared to consider
• 48:42
  including Bitcoin in the foreign exchange reserve.
• 48:46
  I mean, that's pretty cool, but I mean, not surprising also
• 48:50
  because again, you have one of the most powerful countries on
• 48:52
  the face of the planet economically and militarily and
• 48:55
  their government. You know, we saw a post, a
• 48:58
  Twitter post, I'm sticking to Twitter.
• 48:59
  I'm doing it. We saw a Twitter post coming out
• 49:01
  of the White House basically saying that the United States
• 49:04
  wants to be the Bitcoin capital of the world.
• 49:08
  So if you're another country and look and you're looking at what
• 49:11
  the US is doing, you're like, you kind of have no choice to
• 49:13
  follow its to follow in its footsteps.
• 49:16
  So, yeah, I mean, this isn't surprising at all.
• 49:19
  We were talking about strategic Bitcoin reserves.
• 49:21
  That was the topic two months ago.
• 49:23
  A month ago, that was a much more positive topic.
• 49:26
  I'm getting sick of these tariffs.
• 49:29
  But you know, it, it is good news, I guess.
• 49:31
  But I think that's not where everybody's minds are at.
• 49:34
  Everybody's minds are at right now is, you know, the bit, the
• 49:36
  the, the market downturn. And yeah.
• 49:39
  So I want to get Danny's thoughts on this because I'm
• 49:41
  Danny, I'm positive that you've been talking about this on your
• 49:44
  amazing podcast. What's your take on this, man?
• 49:47
  Yet another country is talking about, you know, potentially
• 49:53
  adding Bitcoin as a strategic reserve.
• 49:54
  And I have a couple questions in regards to this.
• 49:57
  Do you think that's a good thing?
• 49:58
  Do you think it's a good thing for nation states to have
• 50:01
  strategic Bitcoin reserves? I mean, first of all, I love
• 50:05
  that you pronounced A typo like it was a Swedish.
• 50:08
  Wait what else bro it? It was the finance minister and
• 50:13
  there was a typo and you tried to make it a Swedish.
• 50:15
  Did I really? Well, if if you've never been to
• 50:18
  Mexico, can't read. If you've never been on Simply
• 50:20
  Nico can't read. And I have.
• 50:22
  I have no shame. I'm originally from Miami, have
• 50:25
  a very thick Miami accent. I'm going to say pizza.
• 50:29
  It's OK. I say pizza.
• 50:31
  No shame. But the general people get the
• 50:33
  general idea of it. So Danny, other than me not
• 50:38
  being able to read, what are your thoughts on the Strategic
• 50:42
  Bitcoin Reserve? Is it a good thing?
• 50:46
  I don't know if it's a good thing.
• 50:47
  I, I, I really don't know where I fall on this yet.
• 50:49
  Like I, I've spoken to people on both sides of the argument.
• 50:52
  I totally understand the kind of Bitcoiners that think this is
• 50:55
  separation of money and state and the state coming in may not
• 50:58
  be a good thing. I also get the Trojan horse
• 51:00
  argument and truthfully, I've not really made my mind up on,
• 51:03
  on that. But whether it's a good thing or
• 51:06
  not might be kind of irrelevant because I think it's, it's an
• 51:09
  inevitable thing. I think the, I don't want to say
• 51:13
  Overton window, but I think the Overton window shifted
• 51:16
  completely when, when the US did this.
• 51:18
  I think there's such an early mover advantage.
• 51:20
  Like we've seen Saudi do it well, not a strategic reserve,
• 51:24
  but they've been buying Bitcoin derivatives at the very least.
• 51:27
  And I think this trend is just going to continue.
• 51:29
  So whether it's a good thing or not, I don't know.
• 51:32
  Where do you fall on that? I don't know man.
• 51:33
  So from a price perspective, it's I think very bullish
• 51:38
  because like you, if a government is using their
• 51:41
  ability to just create money out of thin air to buy something
• 51:44
  that has absolute scarcity, I think the number is going to go
• 51:47
  up from like a, you know, fix the money, fix the world
• 51:51
  perspective. You actually want individuals
• 51:54
  holding the majority of the Bitcoin in self custody.
• 51:57
  Now being a Bitcoin for as long as I have, I think it's naive to
• 52:04
  think that everyone wants to take self custody.
• 52:10
  That's just been my experience with people.
• 52:13
  I've been hammering this point home for so long now.
• 52:17
  And there's just some people that are just like, you know
• 52:19
  what, Like why? Like I can just, I'll buy the
• 52:23
  ETF, that's OK, Or, you know, get exposure to MicroStrategy or
• 52:29
  I could buy Bitcoin and then leave it on the exchange.
• 52:33
  Why do I need to do this stuff? Right?
• 52:37
  So that's just been my experience.
• 52:39
  Now that is such a divisive topic in the Bitcoin, you know,
• 52:43
  community where you have Bitcoiners are like, you know
• 52:45
  what, like that's their problem. So, yeah, I mean, my personal
• 52:51
  opinion is I, I think it's a generational thing.
• 52:54
  I think as you know, the, the, the future generations, like for
• 52:58
  example, I, I had a daughter about a year ago, she's going to
• 53:01
  grow up Bitcoin natively. So the idea for her to take self
• 53:05
  custody and use this, this Internet native money is not
• 53:10
  crazy at all. But for example, expecting my
• 53:13
  grandmother or expecting, you know, my parents to just learn.
• 53:17
  So it's not that they can't do it, it's that the incentive
• 53:20
  really isn't there. Like they don't really, it's
• 53:22
  like Nico, like I get that's important.
• 53:25
  I I understand, but like I got my Charles Schwab account, I got
• 53:29
  my stocks, my life is fine. Like why you adding this extra
• 53:34
  complexity on to me? Like leave me alone, right.
• 53:37
  So that's, I think it's a multi generational thing.
• 53:40
  So I don't know, I rambled a little bit and I I got
• 53:43
  sidetracked. But to answer your original
• 53:44
  question from a price perspective, I think it's
• 53:47
  positive from but from a fix the money, fix the world.
• 53:50
  I might think it's negative because you don't want that much
• 53:54
  Bitcoin custody specifically with Gus with governments.
• 53:58
  And if you, if you take a look at like what all the ETFs are
• 54:01
  doing, Danny, like the vast majority of the ETFs are cussing
• 54:05
  their Bitcoin with Coinbase and then Michael Saylor is cussing
• 54:09
  his Bitcoin with Coinbase. So we have to trust which is the
• 54:12
  whole, this is the whole thing that Bitcoin fixed in the 1st
• 54:14
  place. We have to trust that Coinbase
• 54:16
  isn't re hypothecating. We have to trust that they are
• 54:20
  actually holding the Bitcoin and selling the Bitcoin that they
• 54:23
  say they're doing. And it's like trust me, bro,
• 54:26
  right? So yeah, man, I don't know Opti,
• 54:30
  what do you think? Is this?
• 54:32
  Is this bullish? Is.
• 54:33
  This negative Well, well, before I answer that, we have some big
• 54:36
  breaking news right now. Dennis Porter big breaking live
• 54:40
  on the show. Bitcoin is pumping.
• 54:42
  It just hit 81 K. It looks like all markets are
• 54:44
  pumping because essentially Trump seemed to have lost the
• 54:48
  chicken game, he says. I authorized.
• 54:49
  A 90 day pause on the tariffs. So yeah, I don't know.
• 54:54
  We're we're looking at this. Live, it says let's let's read
• 54:57
  it I'll. Read the whole thing.
• 54:57
  All right, so based on the lack of respect that China has shown
• 55:00
  to the world's markets, I am hereby raising the tariff charge
• 55:03
  to China by the United States of America to 125% effective
• 55:07
  immediately. It's it's weird start to this
• 55:09
  tweet. At some point, hopefully in the
• 55:10
  near future, China will realize that the days of ripping off the
• 55:13
  USA and other countries is no longer sustainable or
• 55:17
  acceptable. Conversely, and based on the
• 55:19
  fact that more than 75 countries have called representatives of
• 55:22
  the United States States, including the Departments of
• 55:24
  Commerce, Treasury and the USTR to negotiate a solution to the
• 55:28
  subjects being discussed relative to trade, trade
• 55:30
  barriers, tariffs, currency manipulation and non monetary
• 55:33
  tariffs. And that these countries have
• 55:35
  not, at my strong suggestion, retaliated in any way, shape or
• 55:39
  form against the United States. I've authorized a 90 day pause
• 55:43
  and a substantially lowered reciprocal tariff during this
• 55:46
  period of 10%, also effective immediately.
• 55:49
  Thank you for your attention to this matter.
• 55:54
  Yeah, it looks like Bitcoin is pumping.
• 55:56
  It looks like NASDAQ, QQQ are pumping and 10 year bond yields
• 56:04
  are dumping right now. So yeah, crazy, crazy stuff
• 56:10
  happening live. Everyone's wondering what is
• 56:11
  going on. I don't know, maybe we'll see an
• 56:14
  Omega candle. OK, so there's that.
• 56:16
  That just happened right as we're live.
• 56:19
  What was the question is? Let's let's pivot the
• 56:21
  conversation to that because I feel like that's the really the
• 56:23
  breaking news here. Yeah.
• 56:25
  I mean, is it over? Is it done?
• 56:29
  I mean, that that seems like it. It's Trump backing off while
• 56:33
  saving face because he's not backing off China.
• 56:35
  Yeah. Right.
• 56:36
  Like he that's that's the the kind of most.
• 56:39
  So I don't know if he's lost the game of chicken yet.
• 56:41
  Well, he yeah, he's still playing it with China.
• 56:44
  But it's interesting. It's like we're lowing it for
• 56:47
  everyone else but China. You're still on the board.
• 56:50
  Yeah, I mean, that's pretty. That's pretty.
• 56:52
  That's the art of the deal right there.
• 56:53
  Because it's interesting what he did, right?
• 56:55
  It's like, look, everyone else now we're cool, but China, no
• 56:59
  FU, we're going to double down. And then that makes China look
• 57:01
  like the boogeyman. It it's, it's really interesting
• 57:04
  what's happening, but like, we're kind of stuck.
• 57:06
  I also wonder if this, sorry, sorry, Nico, I also wonder if
• 57:10
  there's something else in this, Like obviously percent has just
• 57:12
  come into these negotiations. I think he's a little bit more
• 57:14
  rational than Lutnick. And I wonder if this is kind of
• 57:19
  a way of trying to get the other world on board, allies on board
• 57:22
  with pressuring China. I wonder if this is really him
• 57:25
  stepping up the game of chicken with China.
• 57:27
  Yeah, I mean, it's true. I mean, I mean, he did raise the
• 57:30
  stakes. What was it?
• 57:31
  What was it before it was 104 and now it's started. 34 then it
• 57:35
  went to 50, then it went to 104 yesterday, and now it's at 1:20.
• 57:39
  5125 and then China. And then have you seen the the
• 57:42
  embassy of China on Twitter? Like they've been just like at
• 57:45
  tagging, like at Donald Trump? Yeah, this is crazy.
• 57:49
  This is crazy, but at the same time it's a little bit
• 57:51
  bittersweet because does that mean money printer ain't going
• 57:54
  to go Burr? Oh, you'll still go Burr, it's
• 57:57
  just when. That's true, that's true.
• 58:00
  Anyways, guys, I forgot what we were talking about before, but I
• 58:03
  think it's time to get to the culture segment.
• 58:05
  Do you want to give a shout out to the live stream?
• 58:07
  We're at 2800 live viewers between YouTube and X.
• 58:11
  And of course, shout out to the Rumble audience as well.
• 58:13
  If you guys are enjoying today's show, make sure to smash that
• 58:16
  like button. We're on the verge of breaking
• 58:18
  700 live live viewers on YouTube and we hit our goal of almost
• 58:23
  300 likes. So I'm going to raise it up.
• 58:25
  Help us break 350 likes by the time the show ends.
• 58:29
  Smash that like button. If you guys are enjoying simply
• 58:31
  Bitcoin Live Today. We have Danny knows from what
• 58:34
  Danny Knowles from what Bitcoin did, and we're going to be
• 58:37
  talking to him during the culture segment.
• 58:40
  We will be right back. I want to give a shout out to
• 58:43
  our partner Hive Digital Technology.
• 58:46
  Why Hive in 2025, unstoppable growth as the first ever public
• 58:52
  miner, Hive's position to quadruple their global
• 58:55
  footprint, making them one of the world's fastest growing
• 58:58
  miners in 2025. And with elite operations that
• 59:02
  consistently top the industry in Bitcoin mine, per Exahash,
• 59:06
  Hive's now headquartered in the USA.
• 59:08
  They're lean and mean, they're green and clean, and they're
• 59:11
  rewriting playbook on sustainable Bitcoin mining you
• 59:15
  can catch. The latest buzz at.
• 59:17
  Hive Digital Tech or at Hive Digital?
• 59:20
  Tech.com. You need liquidity without
• 59:28
  having to sell your Bitcoin. For more than six years now,
• 59:32
  Leaden has been the trusted choice for Bitcoin backed
• 59:36
  lending with transparency, security and trust at their
• 59:41
  core. I absolutely love these guys and
• 59:43
  I personally have not only an account with them but also alone
• 59:47
  and some of the key features that I love about Leaden is the.
• 59:50
  Fact that there are. No monthly payments.
• 59:52
  You pay at the end of the term. You also have the ability to
• 59:57
  roll over the loan as well, and you could pay it back whenever
• 1:00:02
  you want. Essentially, what they do is
• 1:00:04
  that they help their clients unlock the liquidity of their
• 1:00:07
  BTC, allowing you to huddle while still accessing the wealth
• 1:00:12
  of your Bitcoin. They've been battle tested with
• 1:00:14
  their focus on transparency, security and trust, allowing
• 1:00:19
  them to build a proven track record of client success and
• 1:00:23
  security, helping 10s of thousands of clients harness the
• 1:00:27
  value. Of their digital assets with
• 1:00:29
  confidence and Peace of Mind learn more about what your BTC
• 1:00:34
  can do for you check out leaden dot IO today all right everybody
• 1:00:43
  we are back it's an truly an honor to have Danny Knowles from
• 1:00:47
  the what Bitcoin did recently took it over at like the most
• 1:00:51
  popular podcast in Bitcoin you got how long it was like around
• 1:00:55
  for like 8 years and I was so thrilled to find out that it
• 1:00:59
  came back and that Danny was becoming the host and
• 1:01:04
  essentially had been chasing Danny for like the last couple
• 1:01:06
  months I was like dude, you have to come on the show so it's just
• 1:01:09
  an honor to have him on today and I just have so many
• 1:01:12
  questions which I want to ask live if I can so yeah man like
• 1:01:17
  first of all, congratulations that's that's massive that's
• 1:01:20
  huge how do you feel are you are you happy How does it feel being
• 1:01:24
  the host you're in the cohost seat for a while so how has that
• 1:01:29
  like you know how how has it been?
• 1:01:33
  I mean, I'm loving it, man. We couldn't end the show without
• 1:01:35
  having Nico on. We've got to have you on at some
• 1:01:37
  point. But no, it's been great.
• 1:01:39
  Like everyone always thinks that this was like some kind of
• 1:01:42
  master plan that when we close what Bitcoin did down, that I
• 1:01:44
  was going to take over. And that was honestly never the
• 1:01:47
  goal of this when Pete was kind of done with it and he wanted to
• 1:01:50
  move on, like there's a few reasons, like mainly he needs to
• 1:01:53
  be back in Bedford. Like he's doing so much stuff
• 1:01:55
  here. The football club's doing
• 1:01:56
  amazing. He wanted to stop the travel.
• 1:01:59
  So he obviously started his his new podcast, which is like
• 1:02:02
  crushing. He's doing amazing.
• 1:02:04
  But and initially I was going to move across and continue doing
• 1:02:07
  that. I did the first few shows with
• 1:02:08
  him, but I just, I wasn't done with the Bitcoin side of things.
• 1:02:12
  Like Pete loves the political stuff.
• 1:02:14
  I'm not as interested in it. So it was just there was like a
• 1:02:17
  fork in the road, really. And honestly, I'm loving it.
• 1:02:20
  Like I was saying to you before we started this show, there's a
• 1:02:22
  lot of work. Like it takes a lot of work to
• 1:02:24
  put these like, you know this better than anyone, but it's not
• 1:02:27
  a real job. Like it.
• 1:02:29
  It's, I'm so lucky to be doing what I'm doing.
• 1:02:30
  So yeah, I'm loving it. That's great to hear man.
• 1:02:33
  And and you, you're doing an incredible job too.
• 1:02:35
  And how and I, I know that initially you, you started with
• 1:02:39
  doing remote interviews and now you've started to do more kind
• 1:02:43
  of in person. So and I think a lot of people
• 1:02:45
  like the Bitcoin community, they really value that they miss the
• 1:02:49
  so and you're telling us that they are coming back.
• 1:02:52
  So can you hint to some episodes that you're really looking
• 1:02:57
  forward to that that are going to be dropping in the next
• 1:02:59
  couple weeks or so? Yeah, like when we were doing it
• 1:03:04
  before, we were almost entirely in person.
• 1:03:07
  We did the odd remote show, but it was like 99% in person.
• 1:03:11
  And because this ended up being like a pretty last minute
• 1:03:13
  decision, I started off doing everything remote and you just,
• 1:03:17
  you lose something. Like I think the balance for me
• 1:03:20
  will probably not be all in person, but I'm going to try and
• 1:03:23
  get like 78% in person because there's just something better
• 1:03:26
  about sitting across the table from someone rather than doing
• 1:03:28
  it over Zoom or whatever. So like I, I was in Austin
• 1:03:32
  recently did a few there. I was in Sydney last week and
• 1:03:35
  then got a couple in London yesterday.
• 1:03:36
  So I recorded with them. So this is actually interesting.
• 1:03:39
  So I'd like your take on this as well.
• 1:03:42
  Do you think we've got to the point where Bitcoin podcast,
• 1:03:46
  Bitcoin content has too much assume knowledge to be like
• 1:03:50
  accessible to outside people? Because that's really where I
• 1:03:53
  was at with it. Like we've done beginner shows
• 1:03:55
  in the past. And truthfully, as the person
• 1:03:58
  making those beginner shows, they're boring.
• 1:03:59
  Like I don't want to sit across the table and so on and be like,
• 1:04:02
  why does 21 million matter? Like that's, that's not
• 1:04:05
  interesting to me. So I recorded with Joe Bryan.
• 1:04:09
  I don't know if you know him, but he did a video called what's
• 1:04:11
  the problem recently. It like blew us really well.
• 1:04:15
  And and so he really like went back to the start, started
• 1:04:18
  talking about the problem rather than the solution, didn't really
• 1:04:20
  mention Bitcoin in it and went through it sort of step by step
• 1:04:23
  for like in a very accessible way.
• 1:04:25
  So I recorded with him in London yesterday and and that was a
• 1:04:28
  show that I thought was really good, really important.
• 1:04:29
  And like now more than ever, like with everything blowing up,
• 1:04:32
  like the importance of Bitcoin, we need to get this to more
• 1:04:34
  people. Like it can't all be super high
• 1:04:37
  level, like massive barrier to entry.
• 1:04:40
  We need to make this more accessible.
• 1:04:41
  So it's not like I'm going to do loads of shows like that, but I
• 1:04:44
  think doing the odd 1 is very important, so that's one.
• 1:04:46
  Yeah. I mean that.
• 1:04:47
  So that's a great point, right. So like it's kind of like where
• 1:04:50
  are you in the funnel? Are you top of funnel?
• 1:04:52
  Are you kind of like midway through?
• 1:04:56
  And, and that's the thing, like, so people always said what
• 1:04:58
  Bitcoin did was like a top of the funnel show.
• 1:05:00
  And I think probably when it started because Pete was
• 1:05:03
  relatively new to Bitcoin and it, it probably was that like
• 1:05:07
  top of the funnel podcast. But as time goes on, like you
• 1:05:11
  can't just always have the same conversation once you learn
• 1:05:13
  something, you can't just constantly ask the same
• 1:05:15
  question. So I feel like it's, it has
• 1:05:17
  moved down the funnel and it's not like I'm pushing it to get
• 1:05:21
  back to the top, but I just think doing the odd show that is
• 1:05:24
  top of the funnel is really important.
• 1:05:25
  Otherwise, like so my sister gave me some feedback on this.
• 1:05:27
  She was like, I've tried to listen to the podcast, but I I
• 1:05:29
  just can't. So I want to make a show that I
• 1:05:31
  can then send to her or send to other like friends and family
• 1:05:34
  like that. I think that's really important.
• 1:05:36
  Yeah, no, I agree. And I'm guys, we're doing this
• 1:05:40
  live. I'll I'll try to fix the
• 1:05:41
  resolution live. Give me a second.
• 1:05:43
  But before, Yeah. So to, to answer your point,
• 1:05:46
  Danny, yeah, it's, it's a, it's an interesting predicament
• 1:05:51
  because it's kind of like you, I think part of making content you
• 1:05:56
  want to be authentic when you're having the conversation.
• 1:05:59
  And the reality is that I think we've been in Bitcoin a couple
• 1:06:03
  of years now, right? So obviously, you know, like
• 1:06:07
  what is Bitcoin is, is like, you know, if you spend a couple
• 1:06:11
  years down the rabbit hole, it's like, you know, you don't really
• 1:06:13
  need to ask that question anymore.
• 1:06:15
  Now you're more interested in, and I the more time you spend
• 1:06:18
  down the rabbit hole, it's like, what are the geopolitical
• 1:06:20
  implications of Bitcoin adoption?
• 1:06:23
  You know, what is the, what's happening?
• 1:06:26
  It how, how are entrepreneurs, how are Bitcoin entrepreneurs
• 1:06:29
  really solving the, the, the, the scaling issue, which I think
• 1:06:32
  is a big issue like, you know, so, so you have like these
• 1:06:36
  questions that if you're just getting into Bitcoin, you're
• 1:06:39
  like, wait a second, Bitcoin has a scaling issue.
• 1:06:40
  Like it kind of like scares you away.
• 1:06:43
  So yeah, I mean, it, it's different.
• 1:06:45
  You know, me and Opti were actually talking about this
• 1:06:47
  earlier. Danny, I think just more Bitcoin
• 1:06:50
  podcast because like if you start podcasting today, you're
• 1:06:55
  going to have go through that whole experience of, OK, what is
• 1:06:59
  this thing, what's going on, what's the consequence?
• 1:07:03
  And I think once you start to learn the fundamentals, I think
• 1:07:07
  that's when you start going down the funnel.
• 1:07:09
  You're like, OK, let me look at these other shows that have
• 1:07:13
  either they're more consistent, they're they're just more,
• 1:07:15
  they're daily, or they get those like very high profile guests on
• 1:07:19
  a regular basis. So I, I would say the answer to
• 1:07:22
  that question is like more Bitcoin podcasts that serve that
• 1:07:25
  specific need of that Bitcoiner. That's just getting in.
• 1:07:28
  You know, that's just a month or two men going down the rabbit
• 1:07:31
  hole. I don't know if that makes
• 1:07:32
  sense. When I was getting into the
• 1:07:33
  industry, there was no Bitcoin only media like it was you guys,
• 1:07:38
  but you guys are just starting out as well.
• 1:07:40
  When I was consuming content back in 20/16/2017, I was
• 1:07:45
  watching Andreas Antonopoulos videos on repeat.
• 1:07:49
  Just, I would listen to his lectures over and over and over
• 1:07:52
  and over again. There was nothing else.
• 1:07:54
  There was no podcast. TFTC was just starting.
• 1:07:58
  You guys were just starting. Like everything was very raw.
• 1:08:02
  Production did not exist like we did not we.
• 1:08:05
  The concept of production quality was alien, right?
• 1:08:09
  So like this, really this, this, the Bitcoin media landscape
• 1:08:13
  really has matured, I would say in the last four years before
• 1:08:18
  that, it was just starting out. So I don't know if that answered
• 1:08:21
  your question, but that's my take.
• 1:08:23
  No, that makes total sense. And I did the same thing.
• 1:08:26
  Like I just listened to Andreas over and over and over again.
• 1:08:29
  And it's kind of like the nature of the beast of YouTube is that
• 1:08:31
  it pushes new content. So like, and, and again, you'll
• 1:08:34
  see this when you put out a show, it will do amazing for
• 1:08:36
  like a week and then it kind of just does nothing for eternity.
• 1:08:40
  And so even if you make those like Bitcoin beginner guides
• 1:08:43
  type shows, they just get lost in the back catalog and no one
• 1:08:45
  ever goes back to them anyway. So, yeah, I, I, I don't know the
• 1:08:49
  answer to that. But basically my point is like,
• 1:08:52
  I don't know, I don't feel like retail's coming in now in the
• 1:08:55
  same way that it was when I got into Bitcoin.
• 1:08:58
  I don't know if that's because it's, there's a high higher
• 1:09:01
  barrier to entry or I don't know if it's like unit bias, like
• 1:09:04
  Bitcoin seems too expensive to people.
• 1:09:05
  People would rather be nihilists and go punt on mean coins.
• 1:09:09
  I don't know the answer to that. But what I did want to do is
• 1:09:11
  make sure there is a show that is a little bit accessible, but
• 1:09:14
  like they, I'm definitely not going back to the very top of
• 1:09:16
  the front. Office, I mean.
• 1:09:18
  I joke that the reason retail isn't back is just because
• 1:09:21
  everyone's poorer now than they were in 2017, so they don't
• 1:09:25
  have. Money.
• 1:09:26
  I was poor in 2016 when I got in there.
• 1:09:29
  Yeah, No, I, I, I think just to, to kind of add to your guys's
• 1:09:32
  point, I think it's a like a combination of things, right?
• 1:09:34
  So like when like OK, so 2017, right.
• 1:09:40
  If you look at the Google trends, we haven't surpassed
• 1:09:44
  that amount of searches since that time.
• 1:09:47
  The 2021 bull market, which I think was cut short because of
• 1:09:50
  the China mining ban, we didn't get as much search is on Bitcoin
• 1:09:57
  since 2017 and this cycle even worse than 2017.
• 1:10:01
  So like that influx of the average Joe asking about
• 1:10:05
  Bitcoin, we haven't had that since back then.
• 1:10:08
  That's it's been 9 years. So and then the question is this
• 1:10:12
  like, why is that the case? I mean, could it be the
• 1:10:15
  diminishing returns? Could it be what you said about
• 1:10:19
  the unit bias? Because the unit bias is real
• 1:10:21
  like most people, and this is a maybe this is dark, maybe.
• 1:10:25
  However, which way you want to interpret this, most people
• 1:10:28
  don't have $81,000 lying around. Like most people will not be
• 1:10:33
  able to buy one full Bitcoin back in the 20/16/2017 era when
• 1:10:38
  it was in the, you know, 1K to 2K to 3K to 5K region.
• 1:10:43
  You know, it was, it's still a lot of money, but it was a lot
• 1:10:47
  more accessible to the average Joe, to the everyday person to
• 1:10:51
  become a whole coiner, you know, than it is today.
• 1:10:53
  I think American Huddle's goal, his, his, you know, he's like,
• 1:10:57
  make sure you get to 6.16 point 1/5 or whatever for eternal
• 1:11:01
  riches and the other thing. So, you know, the other thing
• 1:11:05
  that I can't say, but you know, maybe that's it.
• 1:11:08
  But I, I, Danny, I agree with you.
• 1:11:10
  And you know, that's what we've done here at simply too.
• 1:11:13
  Like we're just authentically ourselves.
• 1:11:16
  Because I think it would be inauthentic for you to be
• 1:11:19
  someone that you're not to make your content like, you know,
• 1:11:23
  more beginner friendly. You got to do.
• 1:11:26
  You got to do what your heart, what your you know what your
• 1:11:28
  heart tells you to do. Or else this will feel like a
• 1:11:31
  job very quickly. Yeah, and I, and I'm totally in
• 1:11:37
  that like honeymoon phase of it where I've only been doing this
• 1:11:39
  for a few months. It doesn't feel like a job.
• 1:11:40
  I'm sure like the travel's the hard thing.
• 1:11:42
  And that's why going in person is, is definitely tricky.
• 1:11:45
  Like I've got a family. I I don't want to be away from
• 1:11:47
  them every six weeks. But at the same time, like it's
• 1:11:50
  so fun being away hanging out with your friends, chatting over
• 1:11:53
  a table and like that's what I call a job.
• 1:11:56
  Like, that's pretty lucky. Yeah, for sure.
• 1:11:59
  Actually, Danny, I asked you this before the show, but I'm
• 1:12:01
  going to ask you this again just for the lols on the show.
• 1:12:05
  Did Peter trade the top on Bitcoin podcasting and or did
• 1:12:10
  you buy the bottom of Bitcoin podcasting?
• 1:12:12
  What's your? Thoughts on this?
• 1:12:16
  I mean, maybe he did, I don't know, like I the, the, the, the
• 1:12:20
  truth is like I'm with Nico here.
• 1:12:22
  We, I think we need more Bitcoin podcasts, not less.
• 1:12:25
  Maybe maybe he saw, I think you made this joke.
• 1:12:27
  Maybe he sold the local top. But yeah, I, I don't think
• 1:12:30
  Bitcoin podcasts are over. It's like one of the critiques
• 1:12:33
  of Bitcoin podcasts that people always say is like when Bitcoin
• 1:12:35
  becomes like globally adopted, no one's going to care about
• 1:12:39
  Bitcoin podcasts. It's like, dude, have you seen
• 1:12:41
  how many macro podcasts there are?
• 1:12:42
  Like people who think that aren't dollar podcasts, They're
• 1:12:44
  fucking are like, and, and so I think maybe maybe the kind of
• 1:12:49
  very niche culty Bitcoin podcast, which I think we are
• 1:12:52
  probably a part of, maybe they don't get to like global scale
• 1:12:56
  where like, and maybe the biggest Bitcoin podcasts in the
• 1:12:58
  world become people like, I don't know, Jake Paul.
• 1:13:01
  Like at some point Bitcoin is going to touch everyone.
• 1:13:03
  And I don't know if that's the future I want to see, but it's a
• 1:13:05
  future I could see, yeah. I I, I, I then we were talking
• 1:13:09
  about this earlier too, Danny, like I think and, and, and
• 1:13:12
  that's the, you know, the, the narrative that I've heard from a
• 1:13:15
  lot of people too, which is like, like what, like what are
• 1:13:18
  you going to do when this thing is like mainstream?
• 1:13:21
  And what the phenomenon that I've noticed is that like, OK,
• 1:13:28
  let's say you use dollars as your or, or, or the, the British
• 1:13:32
  pound, you know, to kind of exchange and stuff you don't
• 1:13:36
  like. It's not really like a
• 1:13:38
  lifestyle, you know, like you're not really like, oh, I've
• 1:13:40
  adopted the pound lifestyle or I've adopted the dollar
• 1:13:44
  lifestyle. Like I'm a dollar maxi.
• 1:13:47
  There's something about Bitcoin that I think is like it it all
• 1:13:52
  right, I'm going to say it. I don't care.
• 1:13:54
  It's a cult, Like it kind of is like it, you know, like it's not
• 1:13:57
  normal for you to kind of wake up every day and, you know, log
• 1:14:01
  into, you know, Bitcoin Twitter or like, for example, a lot of
• 1:14:05
  the O GS. They still go to the
• 1:14:06
  conferences. They have no necessity to go to
• 1:14:09
  those conferences, but they still love Bitcoin.
• 1:14:12
  They still love the movement. They're still getting up and
• 1:14:15
  they're still talking about it. I'm sure that there's a lot of
• 1:14:17
  them that just disappeared off the face of the planet, but
• 1:14:19
  there's a lot of them that have stuck around.
• 1:14:21
  So there's something like deeper about Bitcoin that makes it what
• 1:14:26
  I believe a, you know, and some type of some type of new age
• 1:14:32
  political movement. I think Bitcoiners really do
• 1:14:36
  believe in this, in this concept of fix the money, fix the world.
• 1:14:40
  I think the separation of money and state that is inherently
• 1:14:44
  political. And when I mean political, I
• 1:14:46
  don't mean modern politics where it's like, you know, there's two
• 1:14:50
  parties and they're voting for this and this and that.
• 1:14:53
  It's kind of like the sovereign individual theory of politics,
• 1:14:57
  right? Where, you know, the world
• 1:14:59
  becomes so decentralized and the information technologies
• 1:15:04
  essentially make modern politics irrelevant.
• 1:15:06
  And you have like this new age of, of what politics are.
• 1:15:09
  And I don't think we're there yet, but I, I, I think we're
• 1:15:12
  seeing like little, you know, these little city states around
• 1:15:16
  the world that you can see kind of where the future is heading.
• 1:15:21
  Like, for example, like Dubai, what's happening in El Salvador.
• 1:15:24
  Like it's very interesting. Like we've never seen that type
• 1:15:28
  of phenomenon before, right? And Opti's going to kill me when
• 1:15:32
  I say this, when I'm going to say it anyway.
• 1:15:35
  I don't think it's a coincidence that the most popular president
• 1:15:39
  in the Americas, Naimbu Kelly, which is controversial to some,
• 1:15:44
  also happened to be the first president that made Bitcoin
• 1:15:47
  legal tender. And then I'll add to that and
• 1:15:50
  I'll say I don't think it's a coincidence that the first pro
• 1:15:53
  Bitcoin president was almost assassinated twice, which is
• 1:15:58
  President Trump, right? So maybe I'm seeing things and
• 1:16:02
  connecting the dots and there's no connection whatsoever, but I
• 1:16:06
  am recognizing a pattern. Maybe that pattern isn't
• 1:16:09
  connected, but I would love to hear your take on that, Danny.
• 1:16:13
  Well, I I will definitely give you my take on that, but I want
• 1:16:15
  to know why. Up to you.
• 1:16:16
  Because I've said it all the time.
• 1:16:18
  I've said it all the time. OK.
• 1:16:22
  I didn't know if it was because he had issues.
• 1:16:24
  Like every other day. That's why I troll him.
• 1:16:28
  OK, well, I I might offer a slightly different perspective
• 1:16:31
  on Buchele. Like don't get me wrong, he was
• 1:16:34
  dealt a shit hand. He like there's the like
• 1:16:38
  concept, the like obviously you have to break your eggs to make
• 1:16:41
  an omelette, but I don't know if I can agree with everything that
• 1:16:43
  he's doing. Like I think the Bitcoin thing
• 1:16:47
  is amazing, but then IMF coming in pressure him to change those
• 1:16:52
  rules. I know he's still stacking sats
• 1:16:53
  so maybe that's a misnomer and it doesn't matter.
• 1:16:55
  But the thing that I can't get past is the fact that he is
• 1:16:58
  imprisoning people because they've got tattoos and they've
• 1:17:00
  not like actually been charged with crimes like I, I, I kind of
• 1:17:04
  hold both through super Kaylee. I can think one thing he's done
• 1:17:07
  really good and I think other things he's done are massively
• 1:17:10
  against his population. I didn't know if that's why Opti
• 1:17:13
  was going to kill you. I was going to try and agree
• 1:17:15
  with him. I forget the question.
• 1:17:16
  What? What was the?
• 1:17:17
  Original point is essentially like, do I, I was basically
• 1:17:22
  making the case that I think the reason that Bitcoin podcasting
• 1:17:25
  wouldn't completely go away is because Bitcoin itself is kind
• 1:17:30
  of like this movement. It's a, it's a lifestyle.
• 1:17:33
  It's a, it's a way of thinking. Well, I mean, it's the best call
• 1:17:38
  I've ever been in. And like there's a really, it
• 1:17:42
  sounds really cringe, especially if you're not in Bitcoin, but
• 1:17:44
  like Bitcoin really does change you and, and the time preference
• 1:17:47
  thing is talked about all the time.
• 1:17:49
  But I think Bitcoin, one of the most powerful things, at least
• 1:17:53
  for me, that Bitcoin has given me, aside from just making me
• 1:17:57
  richer, is the fact that like it totally changes your habits.
• 1:18:01
  Like you, you go from being just one of the worker bees that's
• 1:18:04
  like a consumerist like everyone else.
• 1:18:07
  I have been in multiple calls, but this is my favorite.
• 1:18:10
  And then, like, it removes you from and consumerism.
• 1:18:13
  And I think that's a really, really cool thing.
• 1:18:15
  Yeah, but. IA 100% agree with that your.
• 1:18:18
  Your camera went out. Go.
• 1:18:19
  Go to your FaceTime. Yeah, your.
• 1:18:21
  Camera died. Sorry guys, I'm in a hotel room.
• 1:18:23
  I'm in a bit of a janky, so no worries.
• 1:18:25
  So we've got cheat code coming up.
• 1:18:27
  Let me show. You.
• 1:18:28
  Absolutely. Let's start plugging your stuff
• 1:18:29
  a. 100% but what were you saying?
• 1:18:32
  I forgot. Should we move on to cheat code?
• 1:18:34
  Best cold ever? Oh yeah, it's the best cold
• 1:18:37
  ever. Yes, it is 100% All right, let's
• 1:18:39
  let's put up the cheat code website.
• 1:18:41
  So Danny, for anyone who doesn't know what is cheat code?
• 1:18:47
  So Cheat Code is our conference we put on every year in Bedford.
• 1:18:50
  This is the second year we've got some amazing speakers
• 1:18:53
  coming. We've got Preston pitch flying
• 1:18:55
  in checkmates here already. We've got Liz Truss, the former
• 1:18:59
  Prime Minister of the UK coming. It's going to be amazing.
• 1:19:03
  Like, so we, we, we basically take over the town of Bedford.
• 1:19:06
  There isn't a single hotel room that isn't taken up by someone
• 1:19:08
  coming to the conference. And then we have Football Day.
• 1:19:12
  So we get to all go watch Peter's football team.
• 1:19:14
  And the cool thing is if they win this year, if they win on
• 1:19:17
  Saturday, they win the league for the third year in a row.
• 1:19:21
  And they'll be only the third team to ever do that, which is
• 1:19:23
  fucking cool. That is super, super cool, man,
• 1:19:25
  that that's awesome. OK, so this is a it's in
• 1:19:28
  Bedford, England, name of the conference called Cheat Code.
• 1:19:32
  It's April 11th through the 13th, so it's in literally 2
• 1:19:36
  days. So that's awesome.
• 1:19:38
  Are you there now? I have got into Bedford like 2
• 1:19:43
  days ago so I'm fighting jet lag pretty hard right now but yeah
• 1:19:47
  it's been a crazy few days but we're nearly.
• 1:19:49
  Incredible, incredible. Well, guys, go check out Cheat
• 1:19:51
  code, Go check out the What Bitcoin Did podcast.
• 1:19:55
  Danny took it over. Incredible guest, big fan of his
• 1:19:58
  work and all the videos he's dropped so far.
• 1:20:01
  And there's going to be many, many to come.
• 1:20:03
  More in person interviews and it's an honour having him on the
• 1:20:06
  show today. Danny, thank you so much for
• 1:20:07
  joining us. No.
• 1:20:09
  Thank you so much guys all. Right.
• 1:20:11
  So guys, before we wrap it up, I do want to give a shout out to
• 1:20:14
  our sponsor. Of course, we do have the
• 1:20:16
  Bitcoin 2025 conference that's coming up in Vegas.
• 1:20:20
  Simply, Bitcoin will have a booth.
• 1:20:22
  It's going to be in the Venetian in Las Vegas, NV, May 27th
• 1:20:27
  through the 29th. Guys.
• 1:20:29
  Definitely don't want to miss it.
• 1:20:30
  I believe it was announced that Bo Hines is going to be there.
• 1:20:34
  The was it the crypto ARAI Zar, I think Nick side, David Sacks
• 1:20:40
  and I forget his David Sacks. Thanks to you.
• 1:20:42
  Thank you. Opti.
• 1:20:43
  He's going to be there as well. I think that was just announced
• 1:20:45
  today don't want to miss it. Use promo code simply you get
• 1:20:48
  10% off anything on the Bitcoin 10% off for the Bitcoin 2025
• 1:20:53
  conference scan the QR code or check the link in the video
• 1:20:56
  description. If you guys enjoyed today's live
• 1:20:59
  show, make sure to smash that like button consider
• 1:21:01
  subscribing. Go check out Danny what Bitcoin
• 1:21:04
  did I'm your host Nico my legendary Co host Optimus
• 1:21:07
  Fields. We'll see you guys tomorrow.
• 1:21:08
  Take care everybody. Today's episode was brought to
• 1:21:11
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:21:15
  mission to enable financial independence.