Latest / Simply Bitcoin / US Government Succeeds in Criminalizing Bitcoin Privacy | EP 867

Transcript

US Government Succeeds in Criminalizing Bitcoin Privacy | EP 867 · Simply Bitcoin

• 0:06
  It's. All.
• 0:07
  Going to zero against Bitcoin. It's going up forever, Warren.
• 0:19
  You're against Bitcoin. You're against freedom.
• 0:23
  Yeah. Welcome to another episode of
• 0:25
  Simply Bitcoin Live, your number one source for the peaceful
• 0:27
  Bitcoin revolution called Breaking News, Culture and Magic
• 0:29
  Warfare. We will be your guide through
• 0:31
  the separation of money and state.
• 0:32
  And today is one of those episodes where we're going to
• 0:34
  talk about the separation of money and state, the US
• 0:37
  government's attack. Well, I can't say that that's
• 0:39
  not a fair characterization. Some members of the US
• 0:46
  government took advantage of the tragedy happening in the Middle
• 0:50
  East. To and their allies in the
• 0:54
  legacy corporate media to take advantage of what's happening to
• 1:00
  really pass through this narrative that Bitcoin and
• 1:03
  crypto was being used to fund terrorism and then that led to
• 1:09
  the FIN CEN, which is part of the Treasury to recommend these
• 1:14
  broad regulations that I have no idea how that's going to be
• 1:17
  enforced, but whatever that essentially would.
• 1:21
  Make it so that every single, basically every single Bitcoin
• 1:25
  transaction how it currently stands would have to be reported
• 1:29
  now, after the fact. It came out that the article was
• 1:36
  blatantly false. It was misrepresented,
• 1:38
  misrepresented the data. But that didn't matter, right?
• 1:41
  The FinCEN proposal stayed. There's currently an open
• 1:45
  comment period which I highly suggest you get involved in,
• 1:48
  just like leave your thoughts. But it seems like they got away
• 1:52
  with it because essentially, without the proposal even being
• 1:57
  introduced, what ended up happening is that already some
• 2:01
  financial institutions are already blocking certain Bitcoin
• 2:05
  transactions that are involved in coin mixing.
• 2:08
  So if you use Samurai, if you use Wasabi and then you send
• 2:13
  that Bitcoin to a an exchange, it might get flagged right now.
• 2:19
  There was a huge amount of backlash over the last week,
• 2:23
  basically putting the blame on the exchanges or on some
• 2:27
  exchanges in particular. But The thing is, what you guys
• 2:30
  have to understand is that exchanges aren't banks, right?
• 2:33
  As long as there's the on and off ramp choke point, and as
• 2:38
  long as people are using legacy banks to buy Bitcoin, that is a
• 2:45
  choke point and that is a choke point that governments are gonna
• 2:47
  take advantage of. I think moments like these
• 2:50
  highlights the importance of really understanding how to use
• 2:55
  Bitcoin, peer-to-peer, how to download peer-to-peer, or how to
• 2:58
  use peer-to-peer alternatives like bisque and like a Steco.
• 3:02
  Huge fan of what Beauty On is doing with the Steco.
• 3:05
  But yeah, this is part of it. This is part of the separation
• 3:08
  of money in state. And the the thing that
• 3:09
  aggravates me the most is the fact that they were able to
• 3:14
  really pass this narrative. Even though it's completely
• 3:18
  false and without it being even introduced, banks and financial
• 3:25
  institutions are taking these preemptive measures, which is
• 3:30
  absolutely crazy. And then it's the continuation
• 3:33
  of privacy, which is completely against the 4th amendment in the
• 3:37
  United States, which is no unreasonable search and seizure.
• 3:41
  That just completely got thrown out the window.
• 3:46
  But I mean, look, this is exactly what you would expect.
• 3:51
  As you know, the, the, the example that I always bring up
• 3:54
  is like a wounded animal trapped into a corner.
• 3:57
  That's when they get most vicious, right.
• 3:59
  And I think that whether it's Elizabeth Warren's Freudian slip
• 4:03
  a couple weeks ago where she's connecting Bitcoin self custody
• 4:07
  with crime. Or she's insinuating it.
• 4:09
  Whether you see Christine Lagarde's desperation when she's
• 4:13
  saying that the CBDC is coming and it's here to stay and
• 4:16
  there's absolutely nothing you could do about it.
• 4:18
  Or whether she even gets caught saying the quiet part out loud,
• 4:21
  saying that Bitcoin is an escape valve, right?
• 4:23
  There's multiple signs that show you that the powers that be, the
• 4:27
  people that want you to use Fiat currencies in the future of Fiat
• 4:31
  currencies, which are central bank digital currencies, are
• 4:34
  absolutely terrified. Of Bitcoin.
• 4:36
  But most importantly, not only are they terrified of Bitcoin,
• 4:39
  they're terrified of people taking self custody of their
• 4:42
  money, which won't allow them to confiscate it easily, either
• 4:48
  through direct confiscation or confiscation through inflation.
• 4:52
  Because that's really what inflation is.
• 4:54
  At the end of the day. It's fundamentally theft.
• 4:57
  It's devaluing your purchasing power at no fault of your own.
• 5:01
  And we're going to play you a clip for you guys today of the
• 5:04
  current U.S. President absolutely gaslighting
• 5:07
  the American people, basically saying that the government is
• 5:11
  not responsible whatsoever for inflation, right.
• 5:15
  So yeah, it it's some crazy times we're living through, but
• 5:20
  I suspect it will be, it will get a little bit tougher before
• 5:23
  it gets better. I I just don't believe that.
• 5:28
  These institutions, nation states that have benefited
• 5:31
  tremendously from the power of the money printer, are just
• 5:34
  going to gently give up that power.
• 5:37
  I just don't think that is like, you know, that's a fairy tale.
• 5:40
  That's what we want to tell ourselves.
• 5:42
  Like Bitcoin's just better money.
• 5:43
  Everyone's just going to get on board.
• 5:45
  There's very, very powerful players that benefit
• 5:49
  tremendously from being able to create money for free that
• 5:51
  everyone else has to work for, and I think they're going to
• 5:54
  fight tooth and nail. To maintain that privilege.
• 5:57
  They're gonna lie, misrepresent, print propaganda, anything you
• 6:01
  can think of. I think they'll try to throw at
• 6:02
  us. Our best hope is to win over the
• 6:06
  adoption race and win the information war, which I think
• 6:09
  we're clearly winning, especially on the battlegrounds
• 6:11
  of the Internet. It's home turf advantage for us.
• 6:14
  Army Maddox are just better than theirs.
• 6:16
  But we gotta keep propagating the truth.
• 6:18
  We gotta keep propagating those memes and really get the message
• 6:21
  out there. And stay away from the the
• 6:26
  distractions, the divide and conquer strategy, which is like,
• 6:30
  oh, you know, this is a liberal or left wing thing.
• 6:35
  This is a Republican or conservative or a right wing
• 6:37
  thing. Bitcoin's a great unifier.
• 6:40
  It's for everybody. It's going to bring people
• 6:42
  together. I truly believe that.
• 6:44
  So it's important that instead of infighting, it's important
• 6:48
  that we come together and we really truly understand who the
• 6:52
  true enemies of Bitcoin are, which are the central bankers
• 6:56
  and you know all the establishment, all the
• 6:58
  institutions that benefit from from Fiat.
• 7:01
  So anyways, it's going to be an interesting episode.
• 7:03
  We have all the receipts for you guys.
• 7:04
  As always. I want to bring up my legendary
• 7:06
  Co host, always optimistic and he's in like 3340 today.
• 7:11
  He's super pixely. I don't know what's.
• 7:13
  Happening. Am I how?
• 7:13
  You doing? How you doing Opti?
• 7:15
  I thought I fixed this. It looks good on my end.
• 7:17
  I don't know. Let me know in the chat.
• 7:19
  I'm doing well. Doing well.
• 7:22
  Someone was saying, are we gonna get pessimistic fields today?
• 7:25
  No, I feel great. I've been sleeping.
• 7:27
  Wonderful. Life's good in the face of
• 7:29
  everything going on. I just keep thinking of the
• 7:33
  meme. You know everything's good for
• 7:34
  Bitcoin and we knew that this was coming.
• 7:37
  We knew that we're in the then they fight you stage and and
• 7:40
  Nico, you and I have been talking about this all year.
• 7:42
  We've been seeing this coming down the pipeline and at first
• 7:45
  we were kind of wondering whether we were right or not or
• 7:49
  whether we were reading into things.
• 7:51
  But it's becoming very clear that we we were definitely on
• 7:58
  point. So hey, crazy, crazy stuff.
• 8:01
  But. I'm not surprised we've.
• 8:05
  Been calling this for months. We've been calling this for
• 8:07
  months. It was.
• 8:08
  Operation choke point. 2.0. Operation I guess I am I am
• 8:11
  coming in bad once I you're. Back, you're back.
• 8:13
  You're back, you're back, you're back.
• 8:15
  It was Operation Choke Point 2.0.
• 8:17
  It was like all the series of events.
• 8:18
  We had interviews with like Caitlyn Long and whatever and
• 8:21
  she was like saying. The.
• 8:22
  Tornado cache. Yeah, the Tornado caches would
• 8:25
  start it at all. It's really what set the
• 8:26
  precedent. Like we like we said, it was
• 8:28
  gonna set a precedent, right? So anyways, it's going to be
• 8:32
  interesting episode. I want to bring up our guests
• 8:34
  today. Leon, thank you so much for
• 8:35
  joining us. We appreciate it.
• 8:37
  Sup guys? Thank you for the invite.
• 8:39
  I appreciate it as well. Thank you.
• 8:41
  Thank you. So, Opti, what are we going to
• 8:42
  talk about during the culture? Yeah, yeah.
• 8:44
  So Leon actually wrote a thesis on Bitcoin, which we'll probably
• 8:50
  touch on at least the basics of it.
• 8:52
  And we did kind of have been having a running theme here the
• 8:55
  last couple of weeks on Bitcoin versus real estate.
• 8:58
  I know out there when I talk to average.
• 9:00
  People, they're always like, oh, bitcoin's too complicated.
• 9:03
  I'm just going to go into the safe bet, which is real estate.
• 9:06
  And we're we're still here trying to educate people that
• 9:09
  for the average person, Bitcoin might be a better choice, it
• 9:12
  might be a better alternative. And we will kind of connect
• 9:14
  this, as Leon was telling me before the show, with what's
• 9:16
  going on with the housing market.
• 9:18
  So I think we're going to have a good wide-ranging conversation
• 9:21
  for you guys in the culture. And of course, like always, you
• 9:23
  guys can drop some questions in there in the chat for us and and
• 9:26
  we'll do our best to cover it. But yeah, I think it's gonna be
• 9:30
  a good one. Yeah, it's gonna be a good one,
• 9:32
  to say the least. All right, everybody, no more
• 9:34
  delay. Let's jump straight into
• 9:35
  numbers. We got a lot to talk about to.
• 9:37
  Let's check it out. The Bitcoin numbers.
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  Titanium. All right At the time of
• 11:03
  recording, the Bitcoin price is 36,230 SATS per dollar. 2760
• 11:11
  block height 816,757 blocks to having 23,243 having estimate
• 11:20
  April 20th, 2024. Total Lightning network capacity
• 11:24
  5295 Bitcoin Capacity value 191 million U.S. dollars Realized
• 11:32
  monetary inflation 1.74% The market capitalization of Bitcoin
• 11:38
  is currently at $708 billion with the B Bitcoin versus gold
• 11:43
  market cap. Bitcoin is still baby 5.42%
• 11:48
  once. Bitcoin reaches the market cap
• 11:50
  of gold. That would put the single price
• 11:52
  of 1 Bitcoin between 500 and 600 thousand U.S. dollars.
• 11:58
  All right, everybody. So I have just a couple videos.
• 12:01
  This is a montage of, you know, when I talk about the Fiat
• 12:05
  regime, the Fiat establishment and the world ahead of us.
• 12:10
  And I I I really want you guys to start looking at the world
• 12:14
  from this perspective because. It's truly Bitcoin versus
• 12:18
  slavery. It's truly the party of Bitcoin,
• 12:21
  the party of pre, peace, opportunity, prosperity,
• 12:24
  freedom, which is Bitcoin, versus the party of green, which
• 12:28
  is the party of slavery, Fiat, poverty, censorship,
• 12:34
  confiscation, you name it, right.
• 12:37
  And it could be a little bit obfuscated right now.
• 12:39
  I think a lot of people are, you know, tensions are high,
• 12:43
  political tensions are high, but truly?
• 12:46
  You're either on the side of Bitcoin or you're either on the
• 12:49
  side of central banking and Fiat and inflation.
• 12:53
  There is no in between. You can't just be like, you
• 12:55
  can't just be in the middle ground and say I'm for both.
• 12:59
  No, because the other side, they don't want Bitcoin to exist.
• 13:03
  Look at all the actions that they've taken.
• 13:05
  Central banks don't want Bitcoin to exist.
• 13:07
  And I'll even go further than that.
• 13:09
  I would say that central banks can't have Bitcoin existing.
• 13:14
  If they want to exist themselves because because of Bitcoin's
• 13:18
  incentives, people will naturally pick the better money
• 13:21
  over time. Maybe it'll maybe it'll be a
• 13:23
  multi generational thing, but people will eventually find out
• 13:27
  what is the better money. And you're seeing this already
• 13:30
  in the global S where people, it's been accelerated in the
• 13:36
  global S because they don't have stable Fiat currencies, so they
• 13:41
  are forced to look for alternatives.
• 13:43
  So and then you look at, you look at Bitcoin, you're like,
• 13:46
  you know, that's that's pretty good, that's, that looks pretty
• 13:48
  good over there, right. So anyways, here's Joe Biden
• 13:52
  absolutely gaslighting the American people.
• 13:55
  Let's check out what he has to say.
• 13:56
  It's only 11 seconds. So I'm sick of this stuff.
• 14:02
  We have to talk about it because the American people think the
• 14:05
  reason for inflation is government spending more money.
• 14:07
  Simply not true. So I'm sick.
• 14:11
  I mean like. Like, I'm sick of.
• 14:15
  I'm sick of the lies. Like, I I'll say that he's sick
• 14:18
  of that. I'm sick of the lies, to be
• 14:20
  honest with you. And then on the other side, the
• 14:25
  founder of the World Economic Forum, which I called the
• 14:28
  Contilion Air Conference in Davos, Switzerland, Klaus
• 14:31
  Schwab, is talking about privacy.
• 14:33
  And today's episode is really going to talk about privacy.
• 14:36
  And you have to understand guys how interlinked all of this
• 14:39
  stuff is, right? The reason that they have to get
• 14:43
  rid of privacy, the reason that you have the president of the
• 14:46
  United States gas letting the American people basically making
• 14:49
  the case that it it's completely irrelevant that the US
• 14:53
  government printed a record amount of money and after that
• 14:57
  record money printing came crazy inflation.
• 15:00
  That's completely uncorrelated. That's what he would like you to
• 15:02
  believe. Now here's the thing.
• 15:05
  And This is why they This is why you know, they're trying to
• 15:08
  censor speech on the Internet. As long as people are just
• 15:12
  calling out the BS, it makes it very, very uncomfortable for
• 15:15
  them because they don't have a good response.
• 15:18
  They they can't use the truth to argue.
• 15:21
  They can't just say, you know what?
• 15:23
  Actually the real cause of inflation is this, this and this
• 15:27
  and this and that. And then obviously, you know,
• 15:30
  all it takes is just one Bitcoin, or making a meme, or
• 15:32
  making a video, doing a little bit of research and then that
• 15:35
  video going viral to completely debunk.
• 15:38
  Anything that the central bankers and their allies would
• 15:41
  like us to believe. So their response, their knee
• 15:45
  jerk reaction is just to censor the opposition.
• 15:47
  That's a lot easier if you censor the opposition.
• 15:50
  You even have to rebuke what they have to say cuz they're
• 15:51
  just doesn't even exist what they're saying, right?
• 15:55
  So anyways, here's Kyle Schwab. Let's check out what he has to
• 15:58
  say. So New Woman is do I accept the
• 16:03
  in Transparens is your the Remem in Transparens total tuba ET
• 16:08
  transparen ET info so comport a. So basically, you know the
• 16:24
  interview originally was in French.
• 16:26
  And he's saying, like, look, in the new world, everything is
• 16:29
  going to be transparent and if you have nothing to hide, you
• 16:32
  shouldn't be afraid. But you know, privacy is gone.
• 16:35
  Forget about it. Except when it comes to central
• 16:38
  banks and their monetary policy, right.
• 16:40
  And that transparency doesn't apply there, except for, you
• 16:44
  know, politicians, financials and stuff.
• 16:46
  No that that that transparency doesn't apply there because.
• 16:50
  If you look at Bitcoin, Bitcoin is extremely transparent.
• 16:53
  It's an open Ledger. Everyone could download a copy,
• 16:55
  you can see every single transaction.
• 16:57
  You could check the supply of Bitcoin yourself.
• 16:59
  If you're running your own node, definitely recommend the start
• 17:01
  9. By the way, for anyone who's not
• 17:03
  running their own node, there's a special deal.
• 17:05
  You can check it out down in the link description.
• 17:08
  Things like 18% off if you use the promo code.
• 17:10
  But yeah, it it it's, you know it's it's a it's a bit of a
• 17:16
  projection on to us because. I I bet you Klaus Schwab's inner
• 17:22
  workings and inner dealings are not a. 100% sure has a Swiss
• 17:25
  bank account like, let's be honest here.
• 17:27
  Yeah. Like there's no, there's no way.
• 17:30
  Like you know and it and it again like it's like they want
• 17:33
  the CBDC's which are not going to be the monetary policy is not
• 17:37
  going to be transparent. The, you know, the inner
• 17:39
  workings of the central bank are not going to be transparent.
• 17:41
  What's going to be transparent is everyone else's transactions,
• 17:44
  right. So it's basically you have the
• 17:47
  elite bureaucratic class. They get special rules and then
• 17:51
  everyone else, you're just serfs.
• 17:54
  You just gotta, you have to deal with the transparency of which
• 17:57
  we're gonna judge. And if you're behaving badly,
• 18:01
  that's bad, but. Bitcoin is transparent by design
• 18:05
  and everyone sees everyone's transactions, right?
• 18:08
  They they might not know, you know, what Bitcoin is, belongs
• 18:12
  to who, but it is an open Ledger.
• 18:14
  I would make the case that Bitcoin is extremely more, it's
• 18:17
  much more transparent than any type of central bank and any
• 18:21
  type of central bank. Monetary policy.
• 18:24
  Yeah, so you know, just the gaslighting from Joe Biden and
• 18:28
  then a Klaus Schwab. Once again, they're so
• 18:31
  emboldened. That they're just they they
• 18:33
  don't even care at this point. They just say the quiet part out
• 18:35
  loud and they're just like, yeah, I deal with it.
• 18:37
  There's nothing you could do about it.
• 18:39
  I'd like to, I'd like to make a comment to to what Biden said.
• 18:43
  We we get into it when we talk about housing.
• 18:46
  But obviously what he said is is nonsense because the value of
• 18:50
  money is tied to the overall supply of money and as the the
• 18:54
  supply of money increases, individual monetary units lose
• 18:58
  purchasing power. But what's more important,
• 19:01
  people look for scarce assets. So as money loses purchasing
• 19:04
  power, people look to invest in scarce assets.
• 19:07
  And people typically next to bonds, stocks, gold, or art,
• 19:13
  they invest in real estate, right?
• 19:15
  So money losing purchasing power has made real estate so
• 19:18
  expensive and has increased the cost of living tremendously.
• 19:23
  So the government producing our money is just not decimating
• 19:26
  people's purchasing power. It also makes life much, much
• 19:30
  harder because the cost of living, which housing is a huge
• 19:34
  part of, is rising enormously At this point in time.
• 19:38
  I think it's like 67% of the world's wealth is stored in in
• 19:43
  real estate, so it became the number one savings account for
• 19:45
  the world. Yeah, yeah.
• 19:47
  It's incredible. You hit the nail on the head and
• 19:50
  that takes away the opportunity for young families if you're up
• 19:54
  and coming and you're trying to buy a piece of real estate.
• 19:57
  You know, you're priced out. You're priced out.
• 19:59
  Which is why. And and I think they're OK with
• 20:01
  that and their propaganda really aligns with that.
• 20:04
  That's why they're telling you you'll own nothing and be happy.
• 20:06
  They're trying to condition you to to be OK with having less
• 20:11
  because they know that you're not gonna have the
• 20:14
  opportunities, the opportunity of ownership that your parents
• 20:17
  one had once had. You know, this is the
• 20:19
  consequence of broken money. This is the consequence of Fiat.
• 20:23
  Anyways, Opti, what's your take on this?
• 20:25
  Yeah. So first and foremost on that
• 20:28
  Biden clip, it makes me think of a few things.
• 20:32
  First and foremost, it's really just like how uneducated people
• 20:35
  really are in regards to economics and what the true
• 20:38
  nature of inflation is. And the fact that he can go out
• 20:40
  there on television and say that inflation isn't caused by
• 20:43
  government spending is absolutely ludicrous.
• 20:45
  We all know that the expansion of money supply is the very
• 20:48
  reason for inflation. So they can blame on inflation.
• 20:51
  What are all the examples they had this year?
• 20:53
  Nico is like blame Beyoncé and Taylor rather Swift and you know
• 20:57
  everything. But the fact that they are
• 20:59
  printing more money and that's what's causing inflation.
• 21:03
  And yet they still continue to find reasons to print more
• 21:07
  money. And people for some reason are
• 21:10
  still just taking this and they're taking that abuse and
• 21:13
  they're getting robbed and they don't understand that this is
• 21:16
  the mechanism that is robbing them is by them printing more
• 21:19
  money. And you know, I, I I don't want
• 21:23
  to say it's all by design, but Nico, you know it's all I I
• 21:26
  think this is all by design at this point.
• 21:27
  They they don't want you educated on how the economy
• 21:30
  works. They don't want you educated on
• 21:32
  how money works, how the Fiat currencies work because it's a
• 21:35
  lot easier to rob you if you are uneducated.
• 21:39
  And then on the the Claude Schwab point like absolutely
• 21:43
  incredible that the same story is being told over and over and
• 21:47
  over again. I we've heard this so many times
• 21:49
  throughout history. If you have nothing to hide,
• 21:51
  then you shall be good. And it it's it's disgusting.
• 21:55
  Like Claude Schwab is wearing clothes.
• 21:58
  He's obviously got something to hide.
• 22:00
  Like we we have curtains in our house and privacy is a human
• 22:03
  right. Like I I shouldn't have to ask
• 22:05
  them for my own privacy. He's not.
• 22:07
  He's not gonna play by the same rules.
• 22:09
  Well, of course rules for the but not for me.
• 22:11
  It like he's not and like. You know, he's gonna have some,
• 22:15
  like, special privileges, like he's not gonna have to share his
• 22:18
  financial, you know, data and his social media posts and all
• 22:22
  that stuff like. You know, like he's not gonna
• 22:25
  have to do that. It's just the rest of us, you
• 22:27
  know the rest. So it's again, it's it's
• 22:29
  creating like this like neo feudalistic society where it's
• 22:33
  like government, central banks, basically the controllers and
• 22:36
  the main benefactors of the Fiat system are just basically
• 22:40
  enslaving everyone else. Dude, it is, it is crazy, man.
• 22:43
  It is. It's just crazy, this crazy,
• 22:45
  crazy world. And.
• 22:46
  And wait, wait before I go on being a little bit
• 22:49
  conspiratorial here, he for sure has like, Swiss bank accounts.
• 22:54
  It's not like he's showing us all of his assets.
• 22:57
  And yet we're criminals because we want to do similar things to
• 23:00
  him. It's just like, man, you know,
• 23:02
  silly peasant, don't try to be me.
• 23:04
  You don't deserve freedom. You don't deserve transaction.
• 23:06
  Show us everything. You're a good human.
• 23:09
  You don't have anything to hide. Like, if you have nothing to
• 23:11
  hide, you don't have a problem. It's like, it's absolutely
• 23:14
  insane that this is where we are.
• 23:15
  Where I know we live in a digital world and everything is
• 23:19
  basically surveilled and and we basically have no semblance of
• 23:23
  privacy in the world today. But I don't think that that we
• 23:26
  should just continue to be OK with this.
• 23:29
  We we should do what we can to protect ourselves and and follow
• 23:33
  best privacy practices and and then like we have curtains in
• 23:37
  our house like it's it's very simple you just don't want
• 23:39
  everyone knowing what you do. Like I know we're all digital
• 23:41
  natives now. I know we're all on social media
• 23:43
  and we post every thought we've ever had on the Internet.
• 23:46
  But you know, my mom always told me a simple idea like don't be
• 23:50
  putting everything on the Internet.
• 23:51
  She's still terrified of the Internet, probably for good
• 23:54
  reason. Shouts out to my mom.
• 23:57
  Anyways guys, if you're enjoying the live stream, make sure to
• 23:59
  smash that like button. If you're listening to it on
• 24:01
  Twitter, on Rumble, on YouTube, really, really helps with the
• 24:04
  Algro. Wait, wait, wait, sorry, sorry.
• 24:06
  Elaine hit the nail on that. He lives in Switzerland, of
• 24:09
  course. Anyways guys, I wanted to give a
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  2024. All right, everybody, let's hit
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  the news. We got a lot to talk about
• 25:11
  today, the Daily News. I want to give a shout out to
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  can check out the link in the video description.
• 26:36
  All right, everybody. So, so this was a series of
• 26:42
  events that happened over a couple of months, almost a year.
• 26:49
  And it really started with this. And we made the claim when this
• 26:52
  happened that this was going to set a precedent and if they got
• 26:56
  away with this, they would use this for things in the future.
• 27:02
  So what am I talking about? Tornado cash founders charged
• 27:06
  with money laundering and sanction violations, right?
• 27:11
  Here's Coin Center, who is, you know, a lobbying arm for the
• 27:15
  Bitcoin and crypto industry in the Imperial City, Washington,
• 27:18
  DC And I think they break down the significance of why it was
• 27:25
  so, why it was so consequential. And I I would make the case that
• 27:30
  really they were just waiting for a straw man.
• 27:34
  To to go after Bitcoin privacy, but not only not only privacy
• 27:40
  tools, but also setting the precedent to apply U.S.
• 27:46
  sanctions to open source technology, right, Open source
• 27:50
  software. That's never been done in
• 27:52
  American history before. And we were making the case like
• 27:55
  this is this is bad, right? And then after they set the
• 27:59
  sanction, you know, they arrested these guys.
• 28:01
  These guys are on trial. But anyways, it goes on to say
• 28:05
  today Coinsetter, along with a group of normal privacy seeking
• 28:08
  workers, donors, activists and public figures, filed A lawsuit
• 28:11
  against the Treasury Department to keep privacy normal, to
• 28:14
  delist tornado cash privacy tools from sanctions, and to
• 28:18
  enjoying Treasury from enforcing against ordinary Americans
• 28:22
  exercising their self-evident and basic rights to privacy.
• 28:26
  Second, even Treasury's own regulations and past executive
• 28:29
  orders limit the applicability of sanction controls to
• 28:32
  transactions with persons, entities or their property.
• 28:36
  The tornado cash sanction was made without statutory and also
• 28:39
  without regulatory authority. It was made contrary to law.
• 28:43
  Third in sanctioning tornado cash tools.
• 28:46
  The Treasury failed to consider the collateral consequences of
• 28:49
  its actions or manifest any awareness of or jurisdiction for
• 28:54
  their significant deviation from previous sanction policies.
• 28:57
  Their actions were arbitrary and capricious, right.
• 29:01
  So that was something that we were covering for a very, very
• 29:05
  long time. And we said, guys, this is, this
• 29:08
  is not a step in the right direction.
• 29:10
  Now the Treasury got emboldened because after this lawsuit.
• 29:16
  They lost the lawsuit. Coin Center lost a lawsuit.
• 29:19
  This court victory for Treasury and indictment of tornado cash
• 29:22
  founders highlights AML and sanction risk for D5 Crypto
• 29:26
  protocols. Federal court in Texas sides
• 29:28
  with U.S. Department of the Treasury in
• 29:30
  tornado cash suit. Decentralized autonomous
• 29:33
  organizations can be sanctioned by the Office of Foreign Asset
• 29:36
  Control and smart contracts can be sanctionable Prop.
• 29:39
  Property one federal District Court has held.
• 29:43
  Courts likely will defer to the OFACS authority to designate non
• 29:47
  traditional entities such as Dows, emphasizing the US
• 29:51
  sanction risks across the Defy space.
• 29:53
  I just want to mention guys, this not only applied to Defy,
• 29:57
  this was the foot in the door. The last passage there was the
• 30:01
  key passage. Courts likely will defer to the
• 30:04
  Office of Foreign Asset Controls Authority to designate non
• 30:07
  traditional entities right. And then what happened?
• 30:11
  Move forward, you know, a couple of months and then all they
• 30:15
  needed was a crisis. All Elizabeth Warren needed was
• 30:18
  a crisis. Those the infamous article that
• 30:22
  Elizabeth Warren used to write a letter to the White House
• 30:25
  basically making the claim that exactly what the article says
• 30:29
  Hamas militant. Militants behind Israel attack
• 30:33
  raised millions of dollars in crypto.
• 30:36
  Now obviously what was discovered after the fact that
• 30:39
  this article was blatantly false.
• 30:41
  Here is the Bitcoin Senator, Senator Cynthia Lummis.
• 30:44
  She says an inaccurate report last week claimed Tomas raised
• 30:48
  nearly $100 million via crypto assets.
• 30:51
  In reality it was less than 500,000.
• 30:54
  But to be honest with you, I don't think they were really
• 30:56
  concerned for the truth. I think that they just like the
• 31:00
  tornado cash example. They needed a straw man.
• 31:03
  They needed a reason, a justification as to why they
• 31:07
  were going to take away more Americans freedoms.
• 31:11
  That was complete. That is completely against the
• 31:12
  4th amendment anyway in my opinion.
• 31:15
  I'm not a lawyer of course. Anyways, it goes on to say
• 31:18
  Vincent seeks to impose strict surveillance requirements onto
• 31:21
  broadly defined class of Bitcoin mixers.
• 31:24
  You have to understand how the tornado cash.
• 31:28
  Ruling emboldened the Treasury. It emboldened them to go a
• 31:33
  little step further. It doesn't just start with
• 31:39
  taking everything all at once. We made the case that the reason
• 31:43
  that they picked tornado cash was because it's something that
• 31:47
  was not mainstream. It was something that was barely
• 31:49
  used, like people didn't know what tornado cash was.
• 31:52
  But we were making the case for you guys months ago that it
• 31:56
  would set a precedent. And that's exactly what it did.
• 31:59
  It emboldened certain members of government to further increase
• 32:05
  their surveillance powers and their censorship controls.
• 32:09
  So it goes on to say Fin CEN seeks to impose strict
• 32:12
  surveillance requirements onto broadly defined class of Bitcoin
• 32:16
  mixers. Now you would say, oh, it's just
• 32:19
  Bitcoin mixers. No, no, no, no, no.
• 32:22
  It's a lot more than that because it's broad language, so
• 32:25
  they don't really specify. Exactly what Bitcoin mixers are
• 32:31
  they they look like? For example, here's a quote from
• 32:34
  the from the proposal creating and using single use wallets,
• 32:39
  addresses or accounts and sending CVC through these
• 32:42
  wallets, addresses or accounts in a series of transactions.
• 32:46
  Now I believe that is nefarious. I believe that is on purpose.
• 32:51
  By default your Bitcoin wallet once you receive Bitcoin.
• 32:56
  It makes a new Bitcoin wallet. It uses another Bitcoin wallet,
• 32:59
  and it does that for privacy reasons.
• 33:02
  What they're basically saying is essentially, no, this is this
• 33:05
  apply. This counts as coin mixing.
• 33:09
  Now of course, this was all predicted by the book The
• 33:12
  Sovereign Individual back in the 1990s.
• 33:15
  I'm gonna read you guys this passage like I always do.
• 33:18
  Businesses that offer services that facilitate the realization
• 33:21
  of autonomy by individuals will be subject to infiltration,
• 33:24
  sabotage, and disruption. Arbitrary forfeiture of
• 33:27
  property, already commonplace in the United States where it
• 33:30
  occurs 5000 times a week, will become even more pervasive.
• 33:33
  Governments will violate human rights, censor the free flow of
• 33:36
  information, sabotage useful technologies, and worse.
• 33:40
  This is the separation of money in state, Ladies and gentlemen
• 33:43
  now. You would think, OK, this is a
• 33:45
  proposal. You know, this hasn't been
• 33:47
  implemented yet. Well, it has though, because a
• 33:51
  lot of banks, a lot of financial institutions have already taken
• 33:56
  preemptive measures. Now the news that came out over
• 33:59
  the weekend and there's a lot of backlash for this, was that Swan
• 34:04
  came out with an e-mail basically saying that, hey guys,
• 34:07
  we're going to limit customer's ability.
• 34:10
  To interact with mixers. Now, that's not what they said.
• 34:15
  Basically what they said is that their banking and custodial
• 34:19
  partners have made an update that could affect their account.
• 34:22
  So basically, Swan's banking partners and financial
• 34:26
  institutions, of which people use to buy Bitcoin and custody
• 34:29
  their Bitcoin, are now preemptively limiting
• 34:34
  transactions that had anything to do with mixers.
• 34:38
  There's a preemptive move. This was not done by SWAN.
• 34:41
  This was done by the financial institutions themselves.
• 34:43
  I believe that the FinCEN knew this was going to happen
• 34:46
  anyways. This describes more of it.
• 34:49
  It goes on to say, in light of the recent proposed ruling from
• 34:54
  FinCEN regarding Bitcoin mixers, they will no longer serve as
• 34:57
  clients who directly interact with Bitcoin, mixing services
• 35:01
  such as Wasabi Samurai and similar services.
• 35:04
  Please be advised that depositing directly from or
• 35:06
  withdrawing directly to a mixing wallet may result in the
• 35:10
  termination of your account with our banking or custodial
• 35:13
  partners. Here is Yan Pritzker.
• 35:16
  He is the CTO and Co founder of SWAN.
• 35:19
  He went on to say we didn't comply with anything the
• 35:21
  financial institutions that our users are depositing dollars
• 35:24
  funds into did. We fought them hard on this
• 35:27
  privately while publicly fighting FinCEN.
• 35:30
  We have been expanding our options with financial
• 35:32
  institutions, with a third coming online now and a fourth
• 35:35
  that we control in 2024. I expect, however, that all
• 35:38
  financial institutions in the USA will do this because it's
• 35:42
  defensive for them, just like they file bullshit SARS on all
• 35:46
  the time defensively. Now, keep that in mind.
• 35:49
  The proposal was never implemented, but financial
• 35:53
  institutions are already enforcing the proposed rules by
• 35:57
  the Fencenn. And these proposed rules were
• 36:00
  based on a bullshit article that misrepresented the data.
• 36:05
  Now if you go back in time, it really all started with the
• 36:11
  tornado cash that set the precedent.
• 36:14
  This was a series of events that took six months or so to play
• 36:18
  out. It was methodical.
• 36:19
  It was surgical. And make no mistake, it was
• 36:22
  without a shadow of a doubt, on purpose.
• 36:25
  All they needed was a crisis. In the case of tornado cash,
• 36:29
  they needed North Korea. In the case of the Fin CEN
• 36:32
  proposal, they needed the tragedy that was happening in in
• 36:37
  the Middle East. Anyways, here is more
• 36:40
  information that came out and here is, Corey, who is the CEO
• 36:47
  and founder of SWAN, said. We're negotiating with the banks
• 36:49
  and working on a lawsuit alongside many friends versus
• 36:52
  FIN CEN if needed. And in the meantime, just don't
• 36:55
  withdraw guys read between the lines.
• 36:57
  Just don't withdraw straight to Wasabi or Samurai unless you
• 37:01
  want a bank to maybe ask one of our settlement partners to
• 37:05
  freeze your account. See you on the battlefield Now
• 37:09
  what happened a lot also during the weekend?
• 37:11
  Is that a lot of the? Infighting.
• 37:14
  A lot of the energy and hatred was directed direct.
• 37:17
  It was directed to Swan guys. This applies to every single
• 37:22
  regulated Bitcoin exchange in the United States, not just
• 37:27
  Swan. Swan was just vocal about it.
• 37:29
  They released multiple media things.
• 37:31
  They released a live stream. They did a Twitter Spaces.
• 37:35
  Jan had this viral tweet that literally showed you how to
• 37:39
  comment on the Vincent proposal. But if you live in the United
• 37:42
  States, this applies to you. If you're using a, you know,
• 37:46
  traditional crypto exchange like Kraken, Coinbase, etcetera,
• 37:49
  etcetera, this applies. If you're using a Bitcoin only
• 37:52
  exchange, this applies to you. This doesn't just apply to SWAN.
• 37:57
  They got away with murder, essentially, and they used it
• 38:01
  and they used misrepresentations of data.
• 38:04
  In order to justify taking away more of your freedoms, they won
• 38:08
  this one and they got away with it dirty.
• 38:11
  And these these proposals haven't even been implemented.
• 38:14
  It haven't even been implemented yet.
• 38:16
  It's just a preemptive move by financial institutions to try to
• 38:20
  get ahead of this. Now it's interesting because I
• 38:22
  saw a lot of comments basically saying why doesn't the, you
• 38:26
  know, Bitcoin and crypto industry have their own banks?
• 38:29
  Well, that's exactly what Caitlin Long did.
• 38:32
  With the custodial Bank of the custodial bank in Wyoming.
• 38:35
  And you know what they did? They denied her a federal
• 38:38
  banking charter. And you know what they did?
• 38:39
  The week after they denied her a federal banking charter, they
• 38:42
  announced the American version of the central bank digital
• 38:45
  currency, the Fed. Now these are not coincidences
• 38:48
  ladies and gentlemen. These are methodical strategic
• 38:52
  moves right by the anti Bitcoin forces.
• 38:56
  To try to stop the adoption of Bitcoin or try to make it as
• 39:00
  inconvenient as possible to take self custody of your Bitcoin.
• 39:05
  Because the revolution is self custody.
• 39:08
  And that is the part that they fear most.
• 39:11
  So they're going to try to demonize it.
• 39:13
  They're trying, they're going to try to villainize it.
• 39:15
  They're going to try to criminalize it eventually,
• 39:19
  because this was the first step. It starts coin mixing and then a
• 39:24
  year from now or two years from now, they say listen.
• 39:26
  The coin mixing is it just wasn't enough.
• 39:30
  Someone who took self custody of their Bitcoin sent that money to
• 39:35
  a terrorist. So actually we can't even have
• 39:38
  you taking self custody of their Bitcoin.
• 39:39
  That make no mistake, that is that is where it's going.
• 39:45
  And this has nothing to do with SWAN.
• 39:47
  This has nothing to do with all the other Bitcoin exchanges.
• 39:50
  This has nothing to do with the crypto exchanges.
• 39:53
  This has to do. With governments wanting to
• 39:56
  close the escape valve, that is what they're trying to do.
• 40:01
  Make no mistake, they just need a straw man.
• 40:04
  They just need an excuse. They need a crisis.
• 40:08
  Because when a crisis happens, they say look over there, look
• 40:11
  over there, look at the shiny little gold toy over there and
• 40:14
  you, most people get distracted until on distracted to what
• 40:18
  they're really trying to do, what they're really doing.
• 40:21
  So. Wake up.
• 40:23
  The way that we fight this is Bitcoin mass adoption.
• 40:26
  The way that we fight this is waking up more people, educating
• 40:30
  more people to the benefits of self custody and waking up
• 40:34
  people to the fact that wait a second, so why is the government
• 40:38
  forcing me to use the money that steals from me?
• 40:40
  They don't even take responsibility for the inflation
• 40:44
  of which they 'cause. We played you a clip of Joe
• 40:47
  Biden in the beginning and if you still don't believe me that
• 40:49
  they don't want you to have privacy, look at the video that
• 40:52
  Klaus Schwab just played you. I mean, I just played you by by
• 40:55
  Klaus Schwab in in Bitcoin and Noster and all these things.
• 41:00
  Klaus Schwab's dream of this non privacy world wouldn't be
• 41:04
  possible. So what do you think he's going
• 41:06
  to try to do? He's going to try to take away
• 41:07
  those things. He's going to try to villainize
• 41:10
  those things. This is the separation of money
• 41:13
  in state, ladies and gentlemen. And the more we infight between
• 41:17
  different political ideologies and the more we infight as
• 41:21
  bitcoiners, it is distracting from the enemy at hand, the
• 41:26
  enemies of freedom, the enemies of Bitcoin.
• 41:29
  They would much rather us in fight that actually pay
• 41:32
  attention to what is actually going on.
• 41:35
  This was a major escalation because what they're saying is
• 41:40
  if you mix your coins, if you use samurai, if you use wasabi,
• 41:47
  you're guilty until you prove yourself innocent.
• 41:49
  Actually you're guilty, period. Just because you coin mix and
• 41:54
  you want some type of privacy that you're a criminal,
• 41:57
  essentially we're going to assume that you're doing
• 42:00
  criminal activity even though, as Cynthia Lummus pointed out,
• 42:05
  99% of illicit finance uses the traditional financial system.
• 42:12
  Let's ignore that inconvenient fact.
• 42:15
  So yeah, man, this is this is crazy dude.
• 42:18
  I mean, I'm not going to lie a little bit bummed out, Opti, but
• 42:22
  at the same time, I'm not surprised.
• 42:23
  As long as those on ramps and off ramps exist, this was always
• 42:27
  going to be a choke point. This was always going to be used
• 42:30
  against us and I think that's exactly what happened here.
• 42:35
  Yeah, I mean we've been seeing this happen for, we've been kind
• 42:39
  of seeing this slow train wreck happen all year.
• 42:42
  And at first we were kind of wondering whether we were on the
• 42:45
  right path or we were just seeing things or we're just
• 42:47
  click baiting titles over here. But it just it's slowly but
• 42:50
  surely has been pointing that the powers that be are
• 42:54
  absolutely terrified of Bitcoin because Bitcoin has made its way
• 42:57
  out the gate and it's getting a lot of media attention.
• 43:00
  And what happened over the weekend I actually I kind of
• 43:04
  unplugged and I had to catch up on Monday.
• 43:07
  I think is very unfortunate the fact that you know, Swan tried
• 43:11
  to be as transparent as possible and.
• 43:14
  Was basically telling you if you read between the lines, how to
• 43:18
  skirt this and how to protect yourself.
• 43:21
  And yet that gets lost on everyone.
• 43:23
  And someone dropped a great article in our telegram group
• 43:26
  and I'm blanking on who it was and what the website is.
• 43:28
  But they called it like the swan in the coal mine, you know, a
• 43:33
  play on the Canary in the coal mine.
• 43:35
  And we've seen that Gemini has done this crack and has done
• 43:39
  this Coinbase. Everyone has felt these
• 43:41
  pressures. And if you're going to scale an
• 43:43
  exchange, then you know that this is going to happen and for
• 43:47
  better or worse there is no quote UN quote Bitcoin or crypto
• 43:51
  bank yet and hopefully Custodia can be a part of that.
• 43:54
  Hopefully what Swan has in the works.
• 43:56
  I saw Corey was talking about it on the Internet and and yawn as
• 43:59
  well on some of the content that you guys are making that
• 44:02
  hopefully Q1 or if not sometime earlier.
• 44:06
  Well, rather, sometime during 2024 they will hopefully have
• 44:09
  something that will protect themselves.
• 44:12
  But it just goes to show how early we still are in this whole
• 44:14
  game. And if you're going to interact
• 44:18
  with the Fiat system, you're still going to have to play by
• 44:22
  their rules for for better or worse, it's still their
• 44:24
  playground. But look, it's as simple as
• 44:26
  this. Look, if you're using a bank to
• 44:29
  buy Bitcoin, which is the vast majority of people, this effects
• 44:33
  you. If you're buying Bitcoin
• 44:35
  peer-to-peer, using Bisk, using a Stecco, this does not affect
• 44:39
  you. The thing is that the vast
• 44:41
  majority of people use banks so that they so they will use this
• 44:45
  choke point that's that's the reality of it right And it it.
• 44:51
  And it's unfortunate. Now yon did release a basically
• 44:55
  a tutorial post that I highly recommend you guys check out and
• 44:59
  he literally walked you through what you can do right now.
• 45:03
  It should not take much of your time to leave a comment on the
• 45:08
  FinCEN on this proposal. Make your voice heard.
• 45:11
  There's only been 1000 comments so far.
• 45:13
  He literally made it incredibly easy for you guys.
• 45:16
  Here's a nice list of bullets. Go to ChatGPT and then leave
• 45:21
  your comment on the federalregister.gov FinCEN
• 45:24
  proposal. So get involved.
• 45:28
  Take action. Take agency as an individual.
• 45:30
  Now Jan said that he still believes this is going to pass.
• 45:34
  I I truly believe so as well. If they're OK with lying and
• 45:38
  misrepresenting to this extent, do you really think that they're
• 45:41
  just going to care what, you know, 1000 comments have to say?
• 45:45
  No, I think that they just needed they needed an excuse.
• 45:48
  But look, here's the thing, guys.
• 45:50
  Learn, learn peer-to-peer. Learn the we need the rise of
• 45:56
  the Bitcoin circular economy. So pay your friends in Bitcoin,
• 46:00
  you know, just stay within the Bitcoin circular economy because
• 46:03
  they have no power there, right? The the the power and the weak
• 46:06
  point is always going to be the on and off ramps.
• 46:10
  As long as you're dealing with a bank and then that bank is what
• 46:14
  you're using to purchase Bitcoin, they're going to
• 46:17
  exploit that. And they've they did.
• 46:18
  And this is what happened over the weekend anyways.
• 46:22
  I, I, yeah, I want to want to make a comment.
• 46:25
  First of all, I send out my condolences to everybody that
• 46:28
  has loved, has lost a loved one, of course, and the tragedy that
• 46:33
  you mentioned. But interestingly, Bitcoin is
• 46:36
  actually the solution to this problem.
• 46:38
  It's not part of the problem. Part of the problem is the Fiat
• 46:41
  system, because Fiat allows for war, which is unprofitable by
• 46:47
  definition because it's only about destruction to continue.
• 46:51
  So the problem is actually the Fiat system that funds these
• 46:53
  wars. And in 1914 when the Bank of
• 46:56
  England went off the gold standard to fund their war
• 46:59
  efforts in the First World War, we did enter the the the
• 47:04
  paradigm of endless wars, which is based on Fiat.
• 47:07
  So I just want to make a point here that Bitcoin is part of the
• 47:11
  solution because it is finite and supply that makes war
• 47:15
  unprofitable. And an interesting example of
• 47:18
  something that was banned in Germany was skateboarding.
• 47:21
  So skateboarding was banned in Germany in the 80s.
• 47:24
  And of course there's something that you can't ban.
• 47:26
  And I'll take that as an example to show people that I also don't
• 47:29
  believe you can ban Bitcoin. This is just just as somebody
• 47:34
  trying to keep a system that has already failed alive.
• 47:40
  But eventually, as you guys mentioned, Bitcoin will become
• 47:43
  greater and bigger than the Fiat system, similar to Honda Soviet
• 47:46
  Union. I read different numbers, but
• 47:48
  apparently at the end of the Soviet Union in the late
• 47:51
  eighties, 80% of the economic activity happened in this black
• 47:56
  market, quote UN quote. So I believe that in the future,
• 47:59
  potentially more economic activity will happen in Bitcoin,
• 48:04
  then in the Fiat system and then these people that are trying to.
• 48:08
  Prevent us from using Bitcoin become less important over time,
• 48:12
  A 100% I think that was beautifully said that was.
• 48:14
  Beautiful. I agree.
• 48:15
  I was. I was going to say that I was
• 48:17
  going to say the same thing. Like I I still think this is
• 48:19
  like a good thing for Bitcoin in the sense.
• 48:21
  It's like, look, hey, we don't want to go back into the Fiat
• 48:25
  world at all. Just we have to to survive here.
• 48:29
  And this is just going to further push the circular
• 48:32
  economy. And people are going to wake up
• 48:34
  to, hey, maybe I need to provide my services and goods for
• 48:38
  Bitcoin directly instead of going to exchanges, but we do
• 48:41
  know there's still people that want to interact with exchanges.
• 48:43
  And hey, the Gray markets are going to go strong.
• 48:46
  Gray markets building right now Jumpinika.
• 48:52
  Yeah. I mean look what you said about
• 48:55
  you know the the the it's not a coin in the.
• 49:00
  And I think this is Ron Paul's quote, right.
• 49:03
  It's not a coincidence that the century of central banking was
• 49:13
  also the century of the most wars in human history and the
• 49:16
  most destructive and deadly wars in human history.
• 49:19
  You know that that's that's what that's what I got to say about
• 49:23
  that. But anyways, this is just like
• 49:30
  this is serious stuff. Guys like this is serious stuff.
• 49:33
  Take it. Don't don't take it lightly.
• 49:35
  Take it serious. Take self custody.
• 49:38
  Run your own node. Empower yourself literally.
• 49:41
  Like, don't fight with violence. Don't fight with like bullshit.
• 49:46
  Fight with taking Bitcoin into self custody and educating the
• 49:50
  people around you. Because the more people are
• 49:53
  awake, they won't be able to get away with this BS.
• 49:57
  They will not be able to get away with it.
• 49:59
  They will not be able to get away with the gaslighting.
• 50:01
  They're able to get away with it because people are are asleep.
• 50:03
  People are. They're not aware of what is,
• 50:06
  what is money. They're not aware of what is
• 50:08
  actually going on right? Anyways, I do want to give a
• 50:11
  shout out to our awesome sponsor Kaboom Racks.
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• 51:24
  OK, so, Leon, we usually start our culture with a you know, how
• 51:31
  did you become a Bitcoiner? How'd you get here?
• 51:33
  But I think a great place to start for you is the fact that
• 51:37
  you wrote a thesis paper on Bitcoin, and I'm just going to
• 51:41
  say the title here for you. And then you can go wherever you
• 51:44
  want to go, and then we'll touch on some of those other topics.
• 51:46
  So your thesis here. Bitcoin, a qualitative study of
• 51:49
  a monetary alternative, its value and application.
• 51:53
  So how did we get here Leon? How did you write end up writing
• 51:56
  a a Bitcoin thesis paper? And maybe even how was it, How
• 52:00
  was the response to it? Yeah, sure.
• 52:04
  It also, like eventually will tie in real estate.
• 52:08
  Sweet. So I learned about starting
• 52:12
  philosophy before it was in financial economics.
• 52:15
  I did a bachelor and philosophy. And I came across Bitcoin
• 52:19
  because there were certain websites, they were very popular
• 52:22
  amongst the student body and I looked further into the money,
• 52:27
  the money that was used on those websites.
• 52:30
  And then I also to the Rabbit hall of Austria economics.
• 52:33
  So I learned about Ludwig von Mises and I learned Rothbard and
• 52:37
  methodological individualism. And I generally speaking, always
• 52:40
  was into counter. So I just.
• 52:44
  I didn't. Bitcoin, I just thought, it's
• 52:47
  interesting. So started and then a few years
• 52:49
  later I started my master's in financial economics and I wanted
• 52:54
  to write my thesis about Bitcoin.
• 52:56
  At that point of time I think that Ethereum was about to go
• 52:59
  live and a friend of mine who was into like venture capital or
• 53:02
  whatever, he heard about Ethereum and he knew I was into
• 53:06
  Bitcoin. He sent me the paper and I had
• 53:09
  problems what the use case for theorem was and what the
• 53:13
  difference between Bitcoin and Ethereum was.
• 53:16
  So that motivated me to look deeply into Bitcoin at the
• 53:20
  beginning, when you're not very happy with that because they
• 53:24
  believe Bitcoin to be a Ponzi scheme.
• 53:27
  But I eventually Winston that that's not the case and it's
• 53:30
  actually a breakthrough and monetology.
• 53:34
  So I started to study Bitcoin from the perspective of Austrian
• 53:37
  economics, the importance of individual freedom for the
• 53:42
  well-being society. And I also looked in particular
• 53:46
  in the potential of Bitcoin on this market and allowing
• 53:51
  individuals in the global S that have been excluded from existing
• 53:55
  monetaries to save build wealth and transact with each other.
• 54:01
  And then after university. So like 2016, two 1017, I got
• 54:07
  into state, I got into real estate development and I helped
• 54:10
  to build up a real estate development company.
• 54:13
  And at the time, I wasn't making the connection between Bitcoin
• 54:17
  and real estate. But as my interest in real
• 54:20
  estate grew and 2020 and when Michael Saylor, who I have to
• 54:25
  credit and obviously being inspiring and the way that he
• 54:28
  applied Bitcoin into more traditional business businesses,
• 54:33
  I started to understand or look at Bitcoin less as a medium of
• 54:38
  exchange. In more of a store value.
• 54:41
  Because at the time I have to be very honest, in the first copy
• 54:44
  of years of my Bitcoin experience, I was more looking
• 54:47
  at Bitcoin as a censorship resistant payment network.
• 54:50
  So the store value function is something that I understood
• 54:54
  quite late to be very honest with you.
• 54:56
  And then when I looked into real estate and why real estate has
• 55:00
  become so expensive, the reason why real estate has become so
• 55:04
  expensive. Also valuable is because people
• 55:08
  need to look for scarce assets to invest, because money is
• 55:11
  losing purchasing power through the issuance of new money
• 55:15
  continuously. And then I looked into the
• 55:18
  differences between Bitcoin and real estate.
• 55:20
  And if you look at Bitcoin and real estate just as a store
• 55:23
  value, Bitcoin is actually a much better store value.
• 55:29
  Real estate is very expensive to maintain.
• 55:32
  It literally decays over time because it's a physical good.
• 55:36
  It's expensive to rent out because renting out individual
• 55:40
  apartments takes time. And if you have loads of
• 55:43
  apartments, you usually need employees.
• 55:45
  So it's even costly to rent out the real estate.
• 55:48
  And something I think that ties into the article Nico that you
• 55:52
  showed, at this point in time we are facing potentially a third
• 55:56
  World War. Rather, it's a cyber war.
• 55:59
  It's a physical war. Real estate is susceptible to
• 56:02
  complete destruction and on the 23rd of February when the
• 56:07
  conflict in in Ukraine E Ukraine began, I've actually met people
• 56:11
  here in Berlin that were able to secure part of their wealth in
• 56:16
  Bitcoin, but the apartments that they owned were completely
• 56:19
  destroyed or they lost value. So at this point in time, I
• 56:24
  think the mobility of the store value of Bitcoin is becoming
• 56:27
  increasingly important. And as I understood that, I
• 56:31
  looked into the market cap of real estate and real estate has
• 56:34
  become the number one store value in the world.
• 56:36
  There's around $330 trillion stored in real estate.
• 56:39
  That's like 67% of the world's wealth.
• 56:42
  And I said to myself, if that is the number store value in the
• 56:46
  world and it's such a bad store value, I believe that Bitcoin is
• 56:50
  going to grab a significant part of the market cap of of real
• 56:54
  estate. So the real estate market cap is
• 56:56
  like 600 times larger at this point in time than Bitcoin.
• 57:00
  So I believe looking at the potential of Bitcoin, you know,
• 57:04
  people throw out huge numbers like, I don't know, 50 million,
• 57:07
  10 million or whatever and eventually in today's currency
• 57:10
  that might be true that. But to make a realistic
• 57:13
  assessment, I said maybe Bitcoin is going to catch like 10 to 50%
• 57:18
  of the market cap of real estate, and that is somewhere
• 57:21
  between 1.5 to $2.3 million per coin.
• 57:25
  And that is something that I believe to be realistic within
• 57:27
  the next decade. So then I started to look at two
• 57:32
  things. First of all, what are the
• 57:35
  positive implications for Society of Bitcoin draining the
• 57:39
  monetary premium that real estate has accumulated?
• 57:43
  So potentially, as people understand that Bitcoin is a
• 57:48
  better store fade in real estate, they don't invest in
• 57:51
  real estate anymore, They're just saving Bitcoin by default.
• 57:55
  And that creates less demand for real estate and that also
• 58:00
  creates dropping prices. And the second thing that I
• 58:05
  believe is important is in an inflationary system, it is
• 58:10
  actually necessary to be able to take credit because if you have
• 58:14
  savings as an entrepreneur, it creates an opportunity cost to
• 58:19
  spend all your savings on a business.
• 58:21
  Because you lose the opportunity to plan for the future because
• 58:25
  eventually that's what savings are.
• 58:26
  They are the ability for the individual to plan for the
• 58:28
  future. So it's important to take
• 58:30
  credit. And real estate is not only only
• 58:33
  the number one store value in the world, it's also the number
• 58:36
  one piece of collateral that is accepted by banks.
• 58:40
  But real estate has become out of unaffordable for most.
• 58:43
  So people can't save and they can't take credit, so they can't
• 58:47
  build a business. So they are completely priced
• 58:49
  out of the economic economic system.
• 58:51
  In real estate and difference to a Bitcoin, Bitcoin is
• 58:57
  accessible. You can buy Bitcoin for as
• 59:00
  little as a dollar. You can use it to save, build a
• 59:03
  capital base and potentially also lend against.
• 59:06
  It becomes less important to lend against your Bitcoin on a
• 59:10
  Bitcoin standard because we can save in Bitcoin, we don't need
• 59:13
  necessarily credit. But I still believe it's an
• 59:16
  important point and I had a conversation with a friend from
• 59:19
  Indonesia. And she told me for the first
• 59:22
  time in her life, she was able to travel to the United States
• 59:26
  because she was able to use a Bitcoin savings as collateral to
• 59:30
  lend money from her. I don't remember what
• 59:33
  institution she was working with, but she was able to lend
• 59:36
  some money and then travel to the US, head back to Indonesia
• 59:40
  and then pay back the loan over time.
• 59:42
  So we can already see the positive implications of of
• 59:46
  Bitcoin being adopted as a as a store value.
• 59:48
  Yeah. And and and you said so many.
• 59:50
  I have so many. Love it?
• 59:51
  Yes. Yes, that was incredible.
• 59:54
  First of all, you know, shout out for your proof of work that
• 59:57
  like, this is incredible and this is a this is a subject that
• 1:00:00
  I think really, really effects, you know, if you're Gen.
• 1:00:04
  Z or if you're a millennial and you're just.
• 1:00:08
  Getting to that age where you're starting a family, you're
• 1:00:10
  looking to get purchase your first home, you're completely
• 1:00:13
  pressed out and it's because of that monetary premium that's
• 1:00:17
  been given to real estate. It's not really the utility
• 1:00:20
  value, it's just people are trying to find a store of value.
• 1:00:23
  And I so not only your work, but Parker Lewis I think wrote a
• 1:00:28
  great piece. Basically, I think it was called
• 1:00:31
  the Great de financialization and he was basically making the
• 1:00:35
  case that as more and more people realize that Bitcoin is a
• 1:00:39
  superior store value, it will. They'll take it from real estate
• 1:00:44
  and they'll take it from, you know, other financial
• 1:00:46
  instruments and assets and all that stuff, and then they'll put
• 1:00:49
  all that into Bitcoin. Now you did give a price
• 1:00:52
  prediction, and we love price predictions on simply Bitcoin,
• 1:00:54
  even though we don't make it ourselves.
• 1:00:56
  You did make you did make the case that you're looking at a
• 1:00:59
  1.5 to $2.3 million Bitcoin within the next decade.
• 1:01:04
  What made you so confident in that statement?
• 1:01:08
  I hope the numbers are correct. Actually I didn't.
• 1:01:11
  I hope the numbers are correct. So please check if I made a
• 1:01:14
  correct calculation. I made a calculation based on 10
• 1:01:17
  to 15% on the market cap of real estate and maybe my time frame
• 1:01:21
  is too fast, so maybe it's 15 or 20 years because these things
• 1:01:25
  actually take a little bit longer than I usually expect.
• 1:01:29
  I tend to become very bullish as a as a bitcoiner.
• 1:01:32
  And I think other bitcoiners do too.
• 1:01:34
  But I basically looked at the market cap of real estate set.
• 1:01:37
  The market cap of real estate is 330 trillion.
• 1:01:41
  Bitcoin is a superior store value.
• 1:01:44
  The digitalization of the value storage function optimizes
• 1:01:50
  almost all the functions of a store value.
• 1:01:53
  Bitcoin is finite and supply, and it's difficult to text.
• 1:01:58
  It is difficult to destroy and it's difficult to confiscate.
• 1:02:02
  And that is very, very important.
• 1:02:05
  So I believe that real estate might lose 10 to 15% of its
• 1:02:11
  monetary premium to Bitcoin and that would equivalent 1.5 to
• 1:02:17
  $2.3 million per Bitcoin. So maybe it's not going to be in
• 1:02:21
  10 years, maybe it's going to be in 1520 years, but it's going to
• 1:02:24
  happen and it's we are already seeing it.
• 1:02:27
  We are already seeing it. Gen.
• 1:02:30
  Z and millennials as you mentioned have been priced out
• 1:02:33
  of real estate. And when I talk to my friends
• 1:02:36
  that are you know below 25 or whatever, they basically they
• 1:02:40
  can't afford real estate. It's literally impossible for
• 1:02:43
  them to afford real estate because interest rates has have
• 1:02:47
  also gone up. So people don't buy real estate
• 1:02:50
  on cash, they buy real estate with credit and as interest
• 1:02:54
  rates go up. Less people can afford real
• 1:02:57
  estate because less people can afford to pay their interest
• 1:02:59
  rates, because with inflation, costs for goods and services and
• 1:03:04
  for rent have gone up, so people have less money to spend on
• 1:03:08
  interest rates to buy a house. So I believe that these
• 1:03:12
  individuals naturally will gravitate towards Bitcoin as
• 1:03:17
  their preferred store value anyway.
• 1:03:19
  So it's almost in my mind at least.
• 1:03:22
  Maybe I'm mistaken, but in my mind.
• 1:03:25
  Bitcoin for Gen. Z for millennials will become
• 1:03:30
  the number one store value basically by default because
• 1:03:34
  there's no other chance. Now we can see now people that
• 1:03:37
  already own real estate. The question is the boomers,
• 1:03:41
  will they sell their real estate for Bitcoin?
• 1:03:45
  I don't know. I don't necessarily believe so,
• 1:03:48
  but I have talked with some individuals.
• 1:03:51
  And what they do, they are either taking credit against
• 1:03:53
  their real estate to buy Bitcoin, or some of the people
• 1:03:57
  that I talk to are actually considering selling some of the
• 1:04:00
  real estate to put that money into Bitcoin.
• 1:04:03
  So as Bitcoin grows in value, it will absorb some of the monetary
• 1:04:09
  premium of real estate. But people will also gravitate
• 1:04:13
  towards Bitcoin rather than real estate as a store value because
• 1:04:18
  they have been priced out. And because they can't afford
• 1:04:22
  monthly interest rates, which I read in the US are between 7.5
• 1:04:26
  to 8%. And that is a substantial amount
• 1:04:30
  of money, considering that inflation has caused costs of
• 1:04:35
  goods and services and rent to Skyrocket.
• 1:04:37
  Yeah, man, it hit the nail on the head.
• 1:04:40
  Opti, I'm sure that you have so many thoughts and feelings.
• 1:04:43
  What are your thoughts? I'm I'm a priced out millennial.
• 1:04:46
  I don't own a house, so I just. I love being guys.
• 1:04:50
  Check out our geyser page, by the way, so we can get Opti off
• 1:04:53
  the street so that Opti does not have to be the likes of
• 1:04:57
  Christine Lagarde and Janet Yellen.
• 1:04:59
  But but I love, I loved hearing this because it, you know, it
• 1:05:03
  makes me feel better about my situation in the world.
• 1:05:05
  It's like, OK, I'm not alone here but I I like I said in the
• 1:05:07
  beginning I come across a lot of people that that are you know
• 1:05:11
  and and even people in the chat like hey, we're not saying don't
• 1:05:13
  buy a house guys. This is not what we're saying.
• 1:05:16
  Houses are great. Everyone should own a home if
• 1:05:19
  you are capable of. But I do hear a lot of people
• 1:05:22
  saying. And we even saw like, what's
• 1:05:25
  this Dave Ramsey last week say like, oh, I would never buy
• 1:05:28
  Bitcoin. I'm going to buy houses.
• 1:05:30
  And I just, I think this is misguided for a lot of people
• 1:05:33
  that they believe they need to store value in real estate when
• 1:05:37
  it's like guys, we have pristine collateral, we have the best
• 1:05:40
  savings technology, which is Bitcoin.
• 1:05:42
  And so I like bringing on people like yourself, Leon, that
• 1:05:45
  explain to people like, hey. Real estate will hold value.
• 1:05:49
  You know beautiful prize land on beachfront property will always
• 1:05:52
  be valuable. But there is AI don't know store
• 1:05:57
  value, premium on rent and and land right now in real estate
• 1:06:01
  and there's a good opportunity for us to save in Bitcoin and
• 1:06:06
  you have that chance today. And so I I just love when people
• 1:06:09
  come out here and they're so eloquent and they're like, yeah,
• 1:06:11
  maybe you need to buy some Bitcoin.
• 1:06:14
  Yeah, no, for sure. Thank you.
• 1:06:16
  And I also want to make a point, I am, I'm a real estate
• 1:06:19
  developer, so I still develop real estate actively.
• 1:06:22
  And if you are in real estate development, I just like to
• 1:06:26
  invite you to to open your mind to the possibility that Bitcoin
• 1:06:30
  brings about. I'm not trying to diminish real
• 1:06:34
  estate development and I'm not saying there's utility value and
• 1:06:38
  housing. And as you mentioned, housing in
• 1:06:40
  premium locations, they will always carry a certain premium
• 1:06:43
  because of the subjective subjective value of individuals,
• 1:06:48
  Beach property in Miami, property in Manhattan, and so
• 1:06:52
  forth. But as Bitcoin comes in, I
• 1:06:55
  believe housing will eventually collapse to its utility value,
• 1:07:00
  and that utility value is way less than the value right now.
• 1:07:04
  So it's just what percentage? Let's throw out some percentages
• 1:07:07
  out there, right. So like, so let's say the
• 1:07:10
  average. Opti, do you wanna do it?
• 1:07:13
  Thanks. Yeah.
• 1:07:14
  OPTI and I produce against each. Other we find each other but but
• 1:07:18
  so let let's throw out some numbers.
• 1:07:20
  So the average US household, the average cost for AU for a house
• 1:07:24
  in the US is like 4 or $500,000, right?
• 1:07:27
  What would so like, what would this repricing, what would it,
• 1:07:32
  what would it be to where housing was in the 70s where it
• 1:07:36
  took like I think a year or two of your full time salary to
• 1:07:40
  basically pay off a home. What are we looking at what,
• 1:07:43
  what type of of you know of, of, of discount and real estate are
• 1:07:48
  we looking at? If you want to, maybe you can
• 1:07:51
  bring up my article How Bitcoin is going to Make Housing
• 1:07:54
  Affordable and Bitcoin Magazine, because I'm showing a metric
• 1:07:58
  there that I'd like to refer to replacing.
• 1:08:01
  That's the one replacing the world's preferred store value.
• 1:08:04
  If you Scroll down a bit, there's a chart that basically
• 1:08:09
  talks about Nico what you just said, this one exactly.
• 1:08:12
  So that is home value change versus income change and as you
• 1:08:17
  can see. In in the 70s, what happened?
• 1:08:21
  And on the 15th of August 1971, Richard Nixon, the US President,
• 1:08:26
  announced that the US would decouple the dollar from gold.
• 1:08:30
  And since then we've been living under field standard with no
• 1:08:33
  monetary standard, right? So the amount of money has
• 1:08:37
  increased consistently and at that point in time, I think it
• 1:08:41
  took like 2 1/2 years for an individual in the US to finance
• 1:08:46
  the purchase of a house. And now it's around 8 1/2 years.
• 1:08:51
  So it takes 2 to three times as much, or 3 1/2 to four times as
• 1:08:55
  much to save for a house. This basically means that we are
• 1:08:59
  losing time, right? The system is stealing our time
• 1:09:03
  through inflation. We are being robbed of our time
• 1:09:05
  because. Money is what we use to save the
• 1:09:09
  fruits of our labor and we spend our time working.
• 1:09:12
  As money loses value, the time we use to work is basically
• 1:09:17
  being blown away, right? So to answer your question, what
• 1:09:21
  is the percentage of the monetary premium at real estate
• 1:09:24
  carries? It's very difficult.
• 1:09:26
  I read different numbers between 70 and 80%.
• 1:09:30
  So I read that between 70 and 80% of the value of housing.
• 1:09:36
  It is because it's being used as a store value, so that is quite
• 1:09:41
  significant. Incredible.
• 1:09:44
  Yeah. This is you know it's it's it's
• 1:09:47
  hopeful again it's there's something about Bitcoin and
• 1:09:50
  optimism right. You know, it gives me hope for
• 1:09:55
  for the future, for the maybe, you know, Opti and I are fucked.
• 1:09:58
  But you know, for the, for, you know, for the future generations
• 1:10:04
  where they don't have to go through a process where you know
• 1:10:07
  they're priced out of housing their price out of, you know, of
• 1:10:11
  of of potentially owning a home in the future and you know, but
• 1:10:16
  this is what Bitcoin is all about.
• 1:10:17
  And once again, like even in real estate, even with the
• 1:10:20
  housing crisis, Bitcoin once again provides this shining
• 1:10:24
  light of hope and optimism. Bitcoin truly does fix the fix
• 1:10:29
  these things. Now Leon, before we get to the
• 1:10:32
  meme review, do you have any closing thoughts or any words of
• 1:10:35
  encouragement for our audience? I do, I do.
• 1:10:39
  It's it's gonna tie in to what you said.
• 1:10:42
  Because something I really like about Bitcoin in the housing
• 1:10:48
  market, it really shows the transformative potential of
• 1:10:51
  Bitcoin and it also shows that changes happen with the
• 1:10:55
  individual. Because if the individual starts
• 1:10:58
  to save in Bitcoin, two things happen #1 for that individual
• 1:11:03
  real estate is going to become more affordable because Bitcoin
• 1:11:06
  is going to grow in purchasing power faster than the price of
• 1:11:10
  real estate. Plus, as more people do it,
• 1:11:14
  there's less money in real estate because people put it in
• 1:11:18
  Bitcoin, which also leads prices to drop.
• 1:11:21
  So going back into mythological individualism, what I talked
• 1:11:24
  about at the beginning in my master thesis, this example
• 1:11:27
  really shows that positive changes in the economy happen
• 1:11:31
  from the individual because the economy is made-up of billions
• 1:11:34
  of individuals and we don't need a centralized authority that
• 1:11:39
  imposes these changes. Because the Fiat system, which
• 1:11:44
  is a centralized system and a credit system, has actually
• 1:11:47
  caused the opposite. It has caused prices.
• 1:11:50
  Of housing to skyrocket because of inflation and because of the
• 1:11:54
  credit system. Gotcha.
• 1:11:55
  Beautiful. Beautiful.
• 1:11:56
  What a great guest, Leon. Absolutely killed it.
• 1:11:59
  Yeah, incredible guest, super honored and humbled to have you
• 1:12:02
  on the show today and really, really appreciate your takes and
• 1:12:06
  thank you. For having me?
• 1:12:07
  Yeah man. And one of those, one of it's
• 1:12:09
  one of those things again that Bitcoin fixes.
• 1:12:12
  Anyways, guys Opti, is it time for the meme review?
• 1:12:15
  Are we gonna release time? It is time to laugh a little
• 1:12:17
  bit. Hopefully.
• 1:12:18
  All right, let's hit the memes. The Daily Meme Review.
• 1:12:31
  All right, guys. Goodbye, Rex.
• 1:12:35
  They don't want us to say that here anymore.
• 1:12:36
  All right, all right. Boys and girls, Girls and boys.
• 1:12:42
  This is the meme review where you tag us on Twitter.
• 1:12:45
  Simply Bitcoin TV or for the time being, my personal account
• 1:12:48
  at Optimus Fields. Or drop them in our telegram
• 1:12:51
  group. T dot me slash simply Bitcoin
• 1:12:53
  TV. We have a lively group of people
• 1:12:55
  in our telegram group. They're dropping all kinds of
• 1:12:58
  memes, but I need the tweets guys.
• 1:12:59
  Give me the tweets so I can give people credit and bring them on
• 1:13:02
  the show. And we can continue to propagate
• 1:13:04
  the memes as we constantly tell you guys.
• 1:13:06
  We show you guys. We try to expose.
• 1:13:10
  No. What are you doing down here?
• 1:13:15
  It's an information war, guys. We are in the midst of an
• 1:13:18
  information war, and the powers that be are going to do their
• 1:13:21
  best to gaslight us. But tweets are our bullets and
• 1:13:24
  memes are our artillery. Make sure you are spreading the
• 1:13:28
  Bitcoin signal, propagating the memes, getting the calls of
• 1:13:31
  actions out there. Nico.
• 1:13:35
  OK. All right.
• 1:13:38
  And I'm losing my turn out thought.
• 1:13:39
  Anyway, anyway, this is a meme review.
• 1:13:40
  Well, you already know the deal. Oh, actually, actually, I I
• 1:13:43
  wanted to say get your meme review score ready, get ready to
• 1:13:47
  drop it in the chat. All right guys, so we don't have
• 1:13:49
  this delay. All right, first one is by
• 1:13:51
  Glocky, AKA at Clucky's under score on Twitter.
• 1:13:54
  And he goes hashtag banks verse hashtag Bitcoin with a fire
• 1:13:58
  emoji. And he goes.
• 1:14:00
  My bank notified me that a transaction was approved today.
• 1:14:06
  And then comparing it to Bitcoin.
• 1:14:08
  My Bitcoin wallet notified me that a transaction was confirmed
• 1:14:12
  today. And then he goes, The difference
• 1:14:14
  is subtle yet huge. Very powerful.
• 1:14:17
  It's a very. Powerful And then it was very
• 1:14:19
  fitting considering what we talked about today.
• 1:14:21
  Anyways, next one is by my cousin out there Culligan Fields
• 1:14:24
  AKA Tommy Boy, 21 male and he goes, you only get one shot.
• 1:14:28
  Do not miss your chance to blow. This opportunity comes once in a
• 1:14:31
  lifetime. Hashtag or actually accredited
• 1:14:34
  to M&M, Hashtag Bitcoin. And we got what?
• 1:14:37
  What is it? Is this, is this the hangover
• 1:14:41
  screenshot here? I don't remember.
• 1:14:43
  I think this is Zach. Yeah, Zach Galifianakis, I
• 1:14:47
  believe his last name is with with the math emojis and math,
• 1:14:50
  thinking about the math calculations.
• 1:14:52
  And it goes when a normie asks you what's so good about Bitcoin
• 1:14:55
  and you know this is your orange pill moment, y'all get one of
• 1:14:59
  these once in a lifetime. They don't come often, but when
• 1:15:02
  they are receptable to Bitcoin, this is when you open up the
• 1:15:06
  flood. Gates guys.
• 1:15:07
  OK, next one is by Bitcoin mindset AKA at 80 IQ mindset.
• 1:15:11
  And he goes, plebs are built different or bit corners are
• 1:15:14
  built different. Hashtag Bitcoin and we got stock
• 1:15:16
  market down 3% and you see the trader over here on Wall Street
• 1:15:19
  and he's crying and he lost his house and then we have bit
• 1:15:22
  corners down here. Bitcoin down 50% and it's the
• 1:15:25
  Leo from Django with the with you know his bourbon.
• 1:15:29
  He's smiling and his cheap sats. Thank you so much for the cheap
• 1:15:32
  Sats. Really appreciate it.
• 1:15:33
  This is the way. All right.
• 1:15:34
  Next one, I think Matthew J. Tagged me in, This one is on
• 1:15:38
  Swans Twitter and it goes. Bitcoin is a seed of hope in a
• 1:15:41
  society which lost vision years ago and perspective just
• 1:15:45
  recently. Shouts out to Kurt.
• 1:15:48
  And we got this AI tree with the Bitcoin logo and someone.
• 1:15:53
  What you doing down here? An old guy looking and pondering
• 1:15:55
  at the tree of life that is Bitcoin.
• 1:15:58
  Next one is a BTC therapist and he goes, hashtag, Bitcoin
• 1:16:00
  humbles you. And we we got a, you know, a
• 1:16:04
  picture here of wow, I'm blanking his name of the actor
• 1:16:07
  from American Psycho. And he goes when Bitcoin is
• 1:16:10
  $100,000 and everyone comes back to advice and it's me as the
• 1:16:13
  American Psycho, this is the price you deserve.
• 1:16:18
  Oh man, as much as we try to. Not say I told you so it's going
• 1:16:24
  to be. I told you so.
• 1:16:26
  OK, next one is by bit Keeney at beauty by Bitcoin and a classic
• 1:16:31
  Futurama. When Bitcoin dips, shut up and
• 1:16:33
  take my Fiat. It is too cheap.
• 1:16:35
  Keep going. All right.
• 1:16:36
  Next one. And last one is by Lena Siche
• 1:16:39
  and she just go. He's so cool.
• 1:16:41
  So we got a little hodler here and actually very fitting
• 1:16:44
  considering the. The Biden clip at the beginning
• 1:16:47
  of this, So this 211, the little hodler.
• 1:16:49
  And we have a money printer here and we have a ASIC Bitcoin
• 1:16:52
  miner. And the money printer goes, so
• 1:16:54
  you just mine the same amount of Bitcoin every 10 minutes.
• 1:16:57
  And the ASIC goes, yes. And then the money printer goes,
• 1:16:59
  what if someone asks you to mine more and the ASIC just goes, I
• 1:17:02
  don't. And then the money printer goes,
• 1:17:04
  wait, but won't they be upset? And the ASIC goes, yeah, that's
• 1:17:07
  not my problem. And the money printer goes, wow.
• 1:17:13
  Asic's so cool. He's so rad.
• 1:17:15
  He doesn't bend to social pressures.
• 1:17:18
  He just minds roughly every 10 minutes.
• 1:17:22
  This is the way. OK, drop your meme review score
• 1:17:24
  in the chat. We will cover ours live.
• 1:17:26
  My meme review score. Nico, I don't think I've done
• 1:17:28
  this before. Again, I am running out of
• 1:17:30
  things here to bring on the show, but it's my belt.
• 1:17:37
  My used belt, OK. It's looking in leather.
• 1:17:40
  It's very nice. It's comfortable.
• 1:17:43
  I do think I'm on the verge of needing another one.
• 1:17:47
  It's got holes in it to make it bigger and smaller.
• 1:17:51
  Yeah, I'm going to give it a dongle.
• 1:17:53
  Oh. You can't see it.
• 1:17:54
  I need dongle dongle. It's a red dongle.
• 1:17:57
  Wait, kind of dongle? It's HDMI?
• 1:18:00
  What's it called here, I cool. Here.
• 1:18:03
  I cool. All right.
• 1:18:05
  And it's AUSB. Hold on, Opti.
• 1:18:07
  Hold on, hold on, hold on. I'm not done.
• 1:18:10
  You have to get into the specifics.
• 1:18:12
  It has a US micro USB port, a no micro SD port, a standard SD
• 1:18:21
  port, 2 USB, A port, 3 point OS and it has a USB C power port
• 1:18:28
  and the front and HDMI port. OK, nice.
• 1:18:34
  Yeah, yeah, yeah. You Chad's Chad's roasting me
• 1:18:39
  right now. All right.
• 1:18:40
  Leon. Leon, when would you give those
• 1:18:42
  memes? What I like the last one, The
• 1:18:46
  one that's the price you deserve.
• 1:18:49
  Yes, I like that one. It's the way.
• 1:18:52
  Yeah, because that's that's what's going to happen, right?
• 1:18:54
  Everybody who said that we are lunatics.
• 1:18:58
  They'll eventually come back at the worst time for themselves at
• 1:19:01
  least, and we'll just be smiling and chilling.
• 1:19:04
  What would you give the memes though?
• 1:19:06
  What score would you give the memes?
• 1:19:08
  Oh, what score would I give the memes?
• 1:19:09
  So the last one gets gets a 10 out of 10 from my perspective.
• 1:19:14
  OK, I like that one. Honest.
• 1:19:16
  I think it was the 2nd last. One, the last one with.
• 1:19:19
  Christian Bale, OK, that was my. Favorite.
• 1:19:21
  Well, Leon is a fan of American Psycho.
• 1:19:23
  Confirmed. Good score, good score, good
• 1:19:25
  score. All right everybody, before we
• 1:19:27
  before before we get to the meme scores, I do wanna give a shout
• 1:19:32
  out to wine. And guys, if you want to support
• 1:19:37
  the show, check out our merch You.
• 1:19:40
  Stack stats first, stack stats first.
• 1:19:42
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• 1:19:45
  stay on air, independent really, really helps.
• 1:19:48
  If you buy our merch, you could scan the QR code on your screen.
• 1:19:51
  Planning about the ads in the chat?
• 1:19:53
  Buy our merch. So literally if you just buy
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  our, if you just buy our merch and subscribe to us on sub
• 1:19:58
  stack, we will have no ad, we won't have the necessity.
• 1:20:01
  You need more of you guys doing this.
• 1:20:02
  Hey, you just complain about the ad.
• 1:20:04
  Oh, we have lightning addresses in the description.
• 1:20:06
  Whatever you want to do. Whatever.
• 1:20:07
  Whatever floats your boat. Like the more you support us,
• 1:20:10
  the less ads. Yeah, exactly.
• 1:20:12
  So ideally we want to get to a point where it's completely ad
• 1:20:14
  free and it's just you know, like viewer supported.
• 1:20:17
  That would be I. That would be amazing.
• 1:20:19
  That would be dope. Until then, you're gonna have to
• 1:20:22
  suffer through the ads, boys. No, not suffer.
• 1:20:24
  We get broke and exam in the chat.
• 1:20:27
  It's amazing Bitcoin, I'm, I'm speaking directly to.
• 1:20:30
  Him in the chat. It's amazing Bitcoin products
• 1:20:33
  anyway. All right, Meme review.
• 1:20:35
  All right, let's go Bitcoin for Canadians.
• 1:20:38
  He gives the memes. My beer money going into sats
• 1:20:42
  instead of it, pissing away instead of pissing it away.
• 1:20:47
  Bitcoin for Canadians gets it. Yeah, he He's based all right.
• 1:20:50
  Elaine. Elaine always has the best
• 1:20:52
  scores. Bitcoin is a house for your
• 1:20:54
  souls, protecting you from financial trolls.
• 1:20:57
  It comforts you with walls and doors against all the bankers
• 1:21:00
  and government. Chrissy Lagarde Crime Let's.
• 1:21:05
  Go Elaine, going in hot Keefe Boy.
• 1:21:07
  I give the memes the 5 minutes it took to submit my comments to
• 1:21:10
  Fincent. Wait, this is.
• 1:21:13
  This is not necessarily a score, but I want to read it anyway.
• 1:21:16
  Cedor, these memes filled me with as much hope as Opti has
• 1:21:21
  for finally being able to move out of Christine Lagarde's
• 1:21:24
  closet on a Bitcoin standard. Justin gives the memes confirmed
• 1:21:31
  greater than approved. I agree.
• 1:21:33
  I agree. Based Justin is based Matthew
• 1:21:37
  Jay. It's going up forever, Laura.
• 1:21:39
  It's going up forever, Laura. Laura, it's going up forever.
• 1:21:41
  Wait, wait, wait. It's going up forever, Laura.
• 1:21:43
  It's going up forever, Laura. XX memes score a 12 ounce bottle
• 1:21:48
  of coke was tell at $0.10 in 1972.
• 1:21:52
  Inflation is not new. Just saying a lot of rhymes
• 1:21:55
  today, bro. I like it.
• 1:21:56
  I like it. Matt Fry.
• 1:21:59
  I rate the memes. An absolutely perfect business
• 1:22:02
  card. Oh, I get that reference.
• 1:22:06
  Old man's old man's BTC. Teaching how to become self
• 1:22:11
  sovereign. That's his memes.
• 1:22:12
  I'll teach you guys how to roll dice soon.
• 1:22:14
  I I just. I've been.
• 1:22:16
  I hear you, bro. Okay meme score Mcmansion
• 1:22:22
  selling for one million Sat Boomer soon to be wrecked.
• 1:22:25
  In the not too distant future. And that is the correct answer.
• 1:22:31
  All right, everybody. Thank you so much for tuning
• 1:22:33
  into another episode of Simply Bitcoin Live.
• 1:22:36
  Thank you. Really appreciate you guys.
• 1:22:38
  We wouldn't be on air without you guys.
• 1:22:40
  So thank you so much for supporting the show.
• 1:22:42
  Appreciate, appreciate you. Appreciate you supporting our
• 1:22:46
  partners, our sponsors and appreciate you if you guys
• 1:22:49
  bought our merch. We appreciate you guys as well.
• 1:22:51
  Appreciate everyone's streaming sats on on Fountain.
• 1:22:54
  We appreciate all of you guys for doing that really, really
• 1:22:57
  helps. We are a much bigger team than
• 1:23:00
  people think. It's about 10 of us, about three
• 1:23:04
  of us full time, ten of us in total, so.
• 1:23:07
  You know, it really, really does help.
• 1:23:09
  Anyways, I do want to thank our special guest today, Leon
• 1:23:13
  Incredible Workman. Very, very impressive.
• 1:23:16
  Thank you so much for contribute for your work and contributing
• 1:23:19
  to the Bitcoin ecosystem because it's it's awesome.
• 1:23:23
  I think I saw your work and I reached out to you directly and
• 1:23:25
  said hey man, I would love to have you on the show.
• 1:23:27
  I would love to have you back on in a couple months to talk about
• 1:23:30
  this specific topic. Yeah, I'd be happy to.
• 1:23:34
  Thank you for inviting me. Thank you also for the work that
• 1:23:36
  you doing and all the listeners. This is, as you call it, the
• 1:23:40
  revolution that happens from the individual bottom up.
• 1:23:43
  So it's basically how we live our life, you know, Bitcoin,
• 1:23:46
  it's, it's also a way of life if you think about it.
• 1:23:49
  So I appreciate you taking the time, providing this content and
• 1:23:52
  making me part of your show and I'd be happy to be part of it
• 1:23:55
  again. Thank you.
• 1:23:56
  Thank you Leon. Really, really appreciate it.
• 1:23:58
  All right guys, if you enjoyed the show, you know what to do.
• 1:24:01
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• 1:24:04
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• 1:24:05
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• 1:24:18
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• 1:24:20
  another episode of Simply Bitcoin Live.