Latest / Simply Bitcoin / Elon Musk and Tesla Just Made a Massive Bitcoin Move | EP 1098

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Elon Musk and Tesla Just Made a Massive Bitcoin Move | EP 1098 · Simply Bitcoin

0:00
Yo, is the world's richest man dumping Bitcoin?
0:05
It's it's been making the rounds on Twitter.
0:08
It seems like Tesla's cold storage Bitcoin has moved to
0:12
7700 and $60 million worth of Bitcoin has moved from Tesla's
0:18
cold storage and it's gone places and we've been trying to
0:22
find out is Elon dumping Bitcoin?
0:23
Is Elon selling this Bitcoin? What is Elon doing with this
0:27
Bitcoin? It seems like Max Keiser has
0:30
actually revealed what is going on and Elon just met with one of
0:35
the most well connected men in finance who actually has said
0:40
very, very positive things about Bitcoin.
0:43
And also he's getting involved in El Salvador.
0:46
Max and Stacey made the introduction for for for him to
0:52
Naimbu Kelly. And of course, I'm talking about
0:54
Howard Lubnik. Howard Lubnik is the CEO and
0:57
chairman of Counter Fitzgerald. I also believe that Counter
1:00
Fitzgerald is the one who is managing Tesla tethers funds as
1:08
well. So also in other news, Elon and
1:12
Peter Thiel created PayPal over 20 years ago, but both of them
1:15
have been in the news recently despite speaking very positively
1:19
about Bitcoin at the Bitcoin conference in 2022.
1:22
Peter Thiel's latest public interview about Bitcoin only a
1:25
couple months ago said he was concerned about the fact that he
1:29
believes that BlackRock potentially has Co opted
1:32
Bitcoin. Now we have the other PayPal
1:34
founder. Of course, I'm talking about
1:35
Elon potentially selling his Bitcoin right before Tesla's
1:39
earnings call on the 23rd of next week.
1:43
You're going to have to stick around to see the billionaire's
1:45
mystery. We're going to try to get to the
1:48
bottom of it today. So before we start the show, I
1:51
do want to bring up our guests for today.
1:53
And of course, my legendary Co host.
1:55
We have Anat Anat is part of Bitcoin Keeper and we have my
2:00
legendary Co host who's always optimistic.
2:03
We have the one and only optimist field.
2:04
So let's get to the bottom of this.
2:06
What is going on? So massive movement on chain
2:11
from Tesla's wallet. Tesla moved another $275 million
2:16
worth of Bitcoin to new wallets. Tesla has now moved $760 million
2:22
worth of Bitcoin today. For anyone who doesn't know,
2:25
because I think MicroStrategy and Marathon and all these
2:28
public miners are the ones that get the lion's share of the
2:31
attention, the reality is that Tesla is the 4th largest holder
2:37
of Bitcoin in terms of public companies.
2:40
They hold 900 and seven 9720 Bitcoin.
2:46
So there's been a lot of rumors and speculations making the
2:49
rounds. First, of course, you have
2:51
British auto very well known and popular content creator.
2:55
He says researching this Tesla move, 500 million of Bitcoin
2:59
used over the last 30 minutes. I, I think Elon Musk is about to
3:03
start buying Bitcoin again. That's what British huddle is
3:07
speculating. But I, I, I think, I think we
3:09
might have gone into the bottom of it.
3:11
I think we might have discovered what is actually going on.
3:15
And let's put the pieces together, shall we?
3:17
So here's Howard Lubnick. Howard Lubnick, like I said, is
3:22
the CEO and chairman of Counter Fitzgerald.
3:26
Counter Fitzgerald is a very well respected traditional
3:29
financial firm. Like I said, they're involved in
3:32
El Salvador. You know, they had meetings with
3:35
Dainbo Kelly. Howard Lupnik actually spoke
3:37
very positively about Bitcoin. I have a clip of that just now.
3:41
Let's check it out. Clearview of where Bitcoin is
3:46
going over the next five years is take a look at the last five,
3:50
right, the last five. Bitcoin has been an outsider in
3:55
the finance business, becoming closer and closer and closer.
4:00
And now there's an ETF just starting to go a little bit
4:05
mainstream, maybe a toe in the water of mainstream, but banks
4:10
still can't clear it. Banks still can't transact in
4:14
it, Banks still can't custodian it, Banks still won't transact
4:18
in it, and they won't finance it yet.
4:22
I think people misunderstand traditional financial service
4:25
companies. They want to transact in
4:27
Bitcoin, they want new asset classes to transact in.
4:32
That's just a good thing. But they need the regulator to
4:36
say it's OK right now, today, right?
4:40
If a bank were to hold your Bitcoin, they would have to set
4:46
aside their own money equal to that amount in in sort of like
4:51
in the jail. I mean, you'd say so.
4:54
Well, that's crazy. The answer is that's why they
4:57
don't hold it. But if you let them hold it, if
4:59
the regulatory environment was good, you will see all the
5:04
traditional financial service companies, the big banks, the
5:07
big brokerage companies, they're all going to go head first into
5:10
Bitcoin pound that's. So, and he's talking about the
5:14
regulatory environment. So this is something that we've
5:16
been talking about over the last couple of months.
5:18
This is why we've been making the case that the upcoming
5:21
election that is coming up in less than one month, of course,
5:25
Trump versus Kamala Harris is going to be so impactful.
5:28
And you hear, you hear Howard Lopnick jumping into the Elon
5:33
train. We know that Elon has publicly
5:35
supported Trump. Trump is a very big supporter of
5:39
the industry. I know he's a little bit of a
5:40
shit corner, but he has gone out publicly to make the case that
5:46
he will protect the right to self custody.
5:48
He will free Ross Ulbricht, he will protect Bitcoin miners,
5:52
right, creating a positive regulatory environment for what
5:56
Howard was describing to happen, right where where banks don't
6:02
fear holding Bitcoin because of some potential regulatory
6:07
blowback that could happen if we have another four years of the
6:12
current regulatory environment. And I think that could
6:15
potentially happen with a a potential Kamala administration.
6:19
Anyways, so here's Howard Lepnick and you have to dive
6:22
into the details. The devil's in the details at
6:23
the end of the day, so welcome to dodge.
6:26
Now what he's referencing is the the this is the Elon's kind of
6:33
troll, but essentially it's the government efficiency committee.
6:37
So it's not referencing the cryptocurrency.
6:40
It's referencing this thing that Trump and Elon have come to
6:43
terms to where the size of government is big and it's
6:48
having consequences on society. And he wants to remove a lot of
6:53
red tape and he wants to make a government more efficient, AKA
6:57
shrinking the size of government, right?
7:00
And it seems like Howard Lepnick is jumping on the train.
7:03
And here he is not only tagging Elon, but also talent tagging
7:09
Donald Trump. Now, in regards to Elon and
7:13
Trump, of course, Elon has publicly endorsed Trump.
7:16
He did a, you know, a record speech in the place where Trump
7:22
was almost assassinated in Pennsylvania.
7:25
And Trump, you know, Elon went on stage with a MAGA hat and he
7:30
says, I'm dark MAGA because it's a black MAGA hat and whatever.
7:33
And he also started the America Pack where Elon Musk has donated
7:37
$75 million to getting Trump elected.
7:41
And again, all of this is connected, right?
7:44
Bitcoiners. I think fundamentally as
7:46
libertarians as as people that are sovereign, we want the size
7:50
of government to shrink. We have a little bit of a
7:53
different take on this. We believe that the best way to
7:57
do this forever is to separate money from state.
8:00
I think all of this is good, but I think these are half measures
8:05
because all it takes is another election and another
8:08
administration to come back in and turn back on the money
8:11
printers and grow the size of government once again.
8:14
But it's definitely a step in the right direction.
8:17
Now, here's the smoking gun. Here's Max Keiser again.
8:21
Max Keiser was heavily involved, connected acting Howard Lupnik
8:26
with 9 Bukele of El Salvador. And here is Max Kaiser saying
8:33
what Elon was doing with that 7000, seven, $160 million worth
8:39
of Bitcoin that was moved last night.
8:42
So here's a post by Bitcoin Archive.
8:44
Again, it's covering what we're covering.
8:46
Tesla moves $760 million of the Bitcoin to an unknown wallet
8:50
last night, according to Max Keiser.
8:53
And again, Max Keiser is close to Howard Lepnick.
8:57
He says he's the he says that Elon is depositing it at
9:01
Howard's new Bitcoin bank and he'll use it as collateral to
9:06
borrow, which is interesting, this collateral aspect because
9:10
this is something that we've heard Sailor talk about many,
9:14
many, many times that he's done a lot of legacy media
9:18
interviews. And you always see the reporters
9:21
or the anchors asking Sailor this question like, when are you
9:24
going to sell? And sailors like sell to what?
9:28
Why would I sell the best asset on the face of the planet when I
9:32
can just borrow against it? So I find that really
9:35
interesting. And it kind of makes sense why
9:38
Howard Lupnik would make a video advocating for the change of the
9:43
regulatory environment so that banks could custody Bitcoin.
9:46
Now it all, it all comes together.
9:48
You just have to put the pieces together, right?
9:50
And it makes sense as to why Howard Lupnik would be backing
9:55
Elon and would be backing Trump for this potential upcoming
9:59
right administration, which again, is going to be very, very
10:03
positive for the industry from a regulatory perspective.
10:07
So overall, Elon is not selling this Bitcoin.
10:10
Tesla's not selling their Bitcoin.
10:12
According to Max Keiser, what they're doing is that they're
10:15
moving the Bitcoin from Tesla's cold storage to apparently
10:20
Howard Lupnick's new Bitcoin bank to collateralize that
10:24
Bitcoin to get a cash loan in the process.
10:27
And who knows, they might be using that cash loan to buy even
10:31
more, more Bitcoin. I don't recommend that.
10:33
That's called margin. But you know, hey, we are going
10:36
into a bull market and I think, you know, a lot of people want
10:40
to want to get more Bitcoin. That's the kind of the reality.
10:43
So anyways, breaking that down, there's a lot of speculation.
10:47
There's a lot of rumors about whether Elon was selling what
10:51
was going on with that Bitcoin. Tremendous amount of Bitcoin
10:54
moving on chain. Of course, this is Bitcoin.
10:56
So it's a public Ledger. Everyone can see Bitcoin moving.
11:00
And according to Max Keiser, and I trust him on this because I
11:03
know he has a very close connection to Howard, Elon's
11:06
moving it to Howard's bank. And I showed you guys a picture
11:10
of Elon and Howard together just two days ago.
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So I think if you put the pieces together, it makes a very clear
11:18
picture. But of course, none of this is
11:20
confirmed as of yet. This is speculation, but I do
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find this quite interesting and something else to keep in mind.
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Ladies and gentlemen, at the end of the day, Tesla is the 4th
11:31
largest holder of Bitcoin on the public company level.
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In terms of public companies that are very well known, Tesla
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is number one in terms of Bitcoin holdings and also I
11:43
believe SpaceX is holding Bitcoin as well.
11:46
That same SpaceX that literally just landed a rocket.
11:50
It wasn't even landed. It was like catching a rocket
11:54
like Mexilla catching a rocket out of the air is freaking
11:57
crazy. Anyways, so very, very we, we
12:01
did a lot of research putting this together for you guys
12:03
'cause I think a lot of people were speculating about whether
12:06
as to Elon was selling Bitcoin or not.
12:09
I think this is a very solid case.
12:11
Opti, what do you think? I mean, all the, all the info is
12:14
there, man. The pictures are there.
12:16
You know, DOGE is mentioned, which is Elon's a government
12:21
efficiency committee or whatever.
12:24
You know, of course, it's an open Ledger.
12:26
You have Max Keiser, who has a really close relationship with
12:29
Howard, confirming that, no, that he's not selling it, he's
12:32
just transferring it to Howard's bank.
12:34
We have a video of Howard confirming that he's bullish on
12:38
banks adopting Bitcoin. I mean, it's not a total
12:42
confirmation, but if you put the pieces together, you know, I'm
12:46
pretty sure it's heading in that direction.
12:48
Anyways. I just called you Elon Opti.
12:50
What are your thoughts on all this brother?
12:52
Yeah. Well, I think the biggest signal
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of this is that if he was selling it, I'm sure that coin
12:58
would be a known exchange address.
13:00
And we're not really seeing that happen.
13:02
And considering that he is this close to Howard Leutnick and
13:06
we've seen that Trump has gone, you know, for lack of better
13:09
terms, full crypto on this, I don't think that he is going to
13:16
sell that Bitcoin. I, I really like the troll that
13:20
he was trying to consolidate his UTX OS.
13:22
But I obviously that that's the troll.
13:24
I think we, I think we saw that happen with Coinbase.
13:27
At least that's what the, the, the, the rumor, the rumor mills
13:32
were saying. But yeah, I think when you kind
13:34
of put it all together, it's most likely going to Howard
13:38
Leutnick's new Bitcoin bank. And you know, like Howard
13:43
Leutnick is also on the Trump transition team if he does get
13:47
elected. And considering that we are
13:49
seeing a lot of pro Bitcoin slash pro crypto talk coming out
13:52
of the Republican camp, AKA the Trump camp right now, I don't
13:55
think he's selling his Bitcoin. And also it would be a very dumb
13:58
move right now considering that it looks like Bitcoin is about
14:01
to start making it's run into the next leg of the bull run.
14:04
So I'm I'm on the camp that he's most likely taking that Bitcoin,
14:08
sending it to a Bitcoin bank to get some collateral, you know,
14:11
get some loans out on his Bitcoin.
14:14
And it it is also interesting though, you know, Tesla, it's
14:17
pretty well capitalized right now.
14:19
And so I wonder what he needs that extra cash, you know, what,
14:23
what, what else is he trying to do?
14:24
Maybe he needs a little more fun so that he can create some other
14:28
cool stuff. You know, he just dropped the
14:30
basically the I robot future that terrifies me.
14:34
But you know, he's still doing the Neuralink stuff.
14:36
So, hey, Elon seems to be making some moves, but I don't think
14:40
it's the moves that people on Twitter are thinking is like, I
14:42
don't think he's selling his Bitcoin.
14:44
It's most likely going to Howard Leutnick's new bank.
14:47
Yeah, absolutely. And and again, I Opti is just
14:50
jealous that the name of the robot is Optimist and.
14:54
No, I'm I'm terrified about. This transhumanist.
14:57
Future and robots. It scares me.
14:59
OK. Opti's name is Optimist, so
15:01
Opti's getting jealous because Opti might get replaced by
15:05
Optimist. Now robot could not replace me
15:08
that you know that's not gonna happen.
15:11
Anyways, we do have our guest for today, he's from Bitcoin
15:15
Keeper. I'm not.
15:17
Are we, are we speculating too much?
15:19
Are we, are we putting pieces together that are not quite
15:22
there? What's your take on all this?
15:24
I mean, Max Keiser pretty much confirmed it.
15:27
They do have a picture together. You have Howard Lopnick making
15:31
that professionally produced video talking about the next
15:34
five years in Bitcoin. We know that a counter
15:38
Fitzgerald has been working with Tether.
15:40
Tether holds a tremendous amount of assets.
15:43
So you know, it it these parties are all talking to each other.
15:48
And of course, we know how Trump feels about the overall Bitcoin
15:52
industry and what he plans to how he plans to treat the
15:55
industry if he gets elected in less than 30 days.
15:59
What's your take on that? So, Nico, I'm obviously, I don't
16:04
know as many details as you pointed out, and I think you did
16:07
a good job of trying to put the puzzle pieces together.
16:09
But one of the things would be that, you know, we could just
16:13
look at the market and market has some good intelligence.
16:17
Some people would say that, you know, market is smarter than
16:20
you. And if the Bitcoin price is
16:22
going up, then these transactions are happening.
16:26
It only points towards that, you know, he's moving the coins,
16:29
he's not selling them. And if if, if, if you believe
16:34
the rumors, he's actually moving those coins to a multi SEC
16:39
wallet on Bitcoin keeper. And yeah, but jokes apart, I
16:43
think he's definitely not selling them if you if you touch
16:47
the market. Absolutely.
16:49
I, I agree. You know, we're, we're at 68 K,
16:52
you know, we're on the verge. I agree with Opti.
16:54
I agree with you guys. We're on the verge of I think
16:56
the next leg of the of the bull run.
16:58
I think Q 4 is going to be great.
17:01
And historically speaking, Bitcoin tends to perform very,
17:04
very well after the the US, the US election.
17:10
Me and Opti going back and forth guys, stay tuned.
17:13
For the yeah. And also we we know that Michael
17:17
Saylor, he did mention that he has been like talking to him.
17:19
So I'm sure he has been, you know, orange very slowly,
17:23
hopefully, and now he sees the difference between, you know, a
17:27
doge and a Bitcoin. 100% and guys, so stay tuned also for the
17:33
culture segment. We're going to talk about
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Bitcoin keeper makes a multi sig incredibly easy.
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excellent video with the suit and everything joined.
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I believe the anchor's name is Charles Payne from Fox Business,
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and he was talking about Microstrategy's stock
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outperforming the rest of the S&P 500 and how that is the
21:37
biggest story in corporate finance.
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every other stock on the S&P 500, including NVIDIA.
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Nvidia's stock went through the freaking moon because of the AI
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boom, right? Three years ago, you could have
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never have imagined that ChatGPT or any of these things would
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like be possible. Now.
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You can make them create images. They're editing videos now.
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I don't know if you guys use ChatGPT.
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It's freaking amazing. You could ask it anything.
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You could even allow it to talk. You could talk to it, it's
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insane. But regardless of that, and of
22:22
course that dramatically increased the demand for GP use,
22:27
right? Or for AI specific computing.
22:30
And that's exactly what NVIDIA does.
22:32
So despite this huge AI boom, micro strategies, Bitcoin
22:37
strategy still outperformed the rest of the S&P 500.
22:42
I can't emphasize enough how emphasize how huge that is.
22:46
Why? Because not every public company
22:49
has the capability to produce GPU that's highly complex, but
22:55
every public company has the ability to buy Bitcoin.
22:59
Therefore they could start benefiting from transitioning to
23:02
a Bitcoin standard. And I'm telling you for any
23:05
individual that has transitioned to a Bitcoin standard or nation
23:08
state, you will start feeling the effects.
23:12
And the effects are simple. All of a sudden, even if you're
23:15
you're allocating one to five to 10% of your portfolio, that one
23:20
to five to 10% percent of your portfolio, excuse me
23:26
specifically if you're using it to replace traditional assets,
23:31
I'm sorry, traditional currencies or currency
23:33
equivalents is not only going to outperform the Fiat equivalent,
23:40
but it's also going to, it's also going to give you a
23:44
competitive advantage. Because if you're Apple and
23:49
you're holding, you know, $500 million of cash equivalents,
23:55
you're losing a percentage of that every single year because
24:00
of inflation, because of the loss of purchasing power.
24:03
Now comes Bitcoin, and even if you don't want to pull a Michael
24:07
Saylor and go full maxi, even if you put 5% of your cash
24:13
equivalent treasuries into Bitcoin, it's still going to
24:17
outperform any other company that hasn't done that.
24:21
And this is what Michael Saylor has proved.
24:24
And I think I believe that This is why Dylan Leclair is making
24:27
the case that this is the biggest story in corporate
24:29
finance. Anyways, let's check out the
24:31
clip. Here we go.
24:32
Dylan, first of all, it, it's been a while.
24:33
Great seeing you my man. Great seeing you too, Charles.
24:36
Happy to be here. Yeah, Let's talk about this
24:38
because Larry Fink, I mean, he, I mean he is like, you know,
24:40
they say when people become believers, when they're non
24:42
believers and they become believers, they become staunch
24:43
believers. Like he's bought into this big
24:45
time. Yeah, absolutely.
24:48
I mean, the the reality here is that Bitcoin, it's a trillion
24:50
and a half today. This is a trailer.
24:52
This is $100 trillion idea. This is $100 trillion technology
24:55
money. Money itself is the biggest
24:57
total addressable market in the world.
24:58
And bonds, stocks, real estate have all sort of been monetized
25:02
in a world where the dollar, the euro, the yen can't can't work
25:05
as a store value. And so Bitcoin Wall Street is
25:07
starting to understand that this is not just a speculative asset
25:10
to punt around. This is something that should be
25:12
in every core portfolio, in every retirement account, in
25:14
every pension, in every young investor's portfolio, in every
25:17
corporate balance sheet. So this is still early days for
25:19
Bitcoin. And, you know, it's great to see
25:20
people like Larry Fink waking up.
25:22
Yeah, let's talk about that corporate side of it.
25:23
We're going to put up a chart of micro strategies since the
25:27
adoption of Bitcoin in August of 2020.
25:29
Just it's been an absolute monster.
25:31
And you know, every time I see it go up, I think about the
25:33
Michael Saylor and the slings and arrows that he took.
25:36
You say though, that now the whole corporate finance part of
25:38
this story is the biggest part of the story and that very few
25:40
understand it. So help us understand this part
25:42
that Michael Saylor picked up early on but still so few don't
25:45
know or understand. Well, I have to give you credit
25:49
and you know, you've had Michael on a few times and have done a
25:51
great job covering the story over the years, So big props
25:53
there. But yeah, on MicroStrategy,
25:55
right, this MicroStrategy and and the Bitcoin strategy they
25:58
adopted in August of 2020 has outperformed 500 out of 500 S
26:02
and P500 stocks since since that time, right?
26:05
It's upholding everything on the planet, including NVIDIA, right?
26:07
So this is the biggest story in corporate finance, how a $1
26:10
billion NASDAQ business intelligence company just
26:13
changed their unit of account and has become a $36 billion
26:15
market cap in four years, right? And so this idea that dilution
26:19
is the scariest thing in the world, Taylor and
26:21
Microstrategy's playbook flipping on its head where
26:23
shareholders cheer every time new stock is issued, new
26:26
convertible debt is issued to buy additional Bitcoin.
26:29
It started as a defensive protective strategy to hedge
26:32
against the COVID stimulus and has since turned into an
26:34
offensive strategy where Bitcoin and the volatility that so many
26:37
people for so many years said was something to avoid at all
26:40
costs. MicroStrategy and Sailor are
26:42
leveraging that volatility to their advantage, right?
26:44
They have the lowest, they have the lowest cost of capital out
26:46
of anybody on the planet barring and billions of dollars for 82
26:49
basis points, right. So this is really not
26:51
understood. It's still early days,
26:53
remarkably so. And I think Sailor and
26:54
MicroStrategy continue chugging on from here.
26:56
So great, great. Dylan just killing it.
26:59
And I just want to mention a couple things.
27:01
So I'm not the only one that says in the video, number one,
27:03
Number two, I think he said stonks.
27:07
So that's absolutely hilarious, man, That's that's awesome.
27:10
No, but just laying out the facts, laying out the truth, the
27:14
proof of work speaks for itself. It's undeniable at this point.
27:17
This is what we've been saying, this is what we've been saying.
27:21
It's undeniable. If you adopt A Bitcoin strategy
27:25
as an individual, as a company, as a nation state, you have a
27:31
competitive advantage over everyone else.
27:34
You you just you're using a better unit of account while
27:38
everyone is in this Fiat turn of their money, constantly losing
27:44
purchasing power or a part of their assets losing purchasing
27:48
power due to irresponsible fiscal policy by governments.
27:52
You're protected. In fact, if you know you're
27:56
you're you're Maxi like me and Opti, and I'm assuming Anatis as
28:00
well. You know, like, and you have a a
28:02
sizeable percentage of your net worth in Bitcoin.
28:05
You are feeling the benefits. Everything in life is getting
28:09
cheaper for you, housing, food, whatever.
28:12
Everything is just getting progressively cheaper.
28:15
Everything goes to zero against Bitcoin, right?
28:18
It's Max Kaiser's quote and it's absolutely true.
28:20
Anyways, Opti, you've been making, you can make making so
28:24
much fun of me for saying the video wrong, but there you go,
28:27
bro National TV. But Dylan absolutely clear
28:32
killed it and man, so glad to see him, you know, succeed the
28:37
way he succeeded. You know, Opti and I, we, we go
28:41
back in the day, just remember Bitcoin kindergarten and you
28:46
know, the, the heights to where we've all reached in our careers
28:49
and it's, and it's great to see, you know, Dylan, just speaking
28:54
at the heights of legacy media. So great to see Dylan and kudos
28:58
to him for that. Anyways, Opti, what are your
28:59
thoughts? Yeah, well, First off, I do want
29:02
to give a big shout out to Dylan.
29:03
Love the kid. He's killing it right now.
29:05
And it's just, it's incredible to see him on, you know, Fox
29:08
News talking to Charles Payne. You know, as much as I troll
29:11
Dylan, it's, it's wonderful to see him being brought up on
29:15
television as as an expert. You know, I still, I still think
29:19
of him as my little Zoomer friend out here, but he's
29:21
killing it. So I love to see it.
29:22
But yeah, I mean, he he absolutely.
29:24
And also, you know, hey, Dylan, if you're listening, it's
29:26
NVIDIA, bro. Like, don't, don't normalize
29:29
saying this word wrong because Nico says it either.
29:32
Like, this is this is, this is not how you do this.
29:35
Anyways, jokes aside, what Dylan is saying, and of course what
29:40
Michael Saylor has shown to the world, the master class that
29:43
he's put on on the corporate level in regards to adopting
29:46
Bitcoin is slowly but surely being adopted and noticed by
29:50
everyone else. And again, using some sailorisms
29:54
here, everyone that is aware of what's going on understand that
29:59
you can't save in Fiat Treasury bills and bonds aren't the safe,
30:03
you know, the risk off asset that most people thought it was.
30:07
It's becoming a detriment to your company to be holding bonds
30:10
because you need to hold something else.
30:12
A lot of news has been coming out this year of countries and
30:16
corporations trying to move away from bonds, trying to move away
30:20
from U.S. government debt. And I think we are starting to
30:23
hit a crescendo here where they might get dropped really quick.
30:27
And I, and by today, I mean government debt, U.S. debt, you
30:29
know, treasury bonds out here, they might start to get dropped
30:33
at an incredible speed moving into 2025 as Bitcoin starts to
30:37
pump. And it's just, it really is
30:40
insane to me that all Sailor had to do is just buy a bunch of
30:44
Bitcoin and he's literally outperforming everyone else on
30:47
the stock market, which is just, it's nuts.
30:49
And of course, we've all kind of experienced this on a personal
30:52
level. We say it all the time.
30:54
This is why we always talk and tell you guys that all you need
30:57
to do is huddle. Like literally all you have to
30:59
do is buy Bitcoin, saving Bitcoin, and sit on your hands
31:02
and continue to improve your cash flows, Make sure that
31:05
you're a productive human and you're going to outperform the
31:08
best traders on Wall Street, You're going to outperform all
31:11
these asset managers. And it's literally the simplest
31:13
strategy ever. It's almost too simple.
31:15
And This is why I think people kind of overcomplicate things
31:18
because we're so used to all this financial trickery.
31:21
But now we have examples everywhere, whether it's on the
31:23
nation state level, on the corporate level, on the
31:25
individual level, which of course, as Bitcoiners, we've
31:27
seen this play out for a long time.
31:29
On the individual level, all you need to do is be saving in
31:32
Bitcoin. And this is how you can protect
31:33
yourself. This is how you can escape the
31:36
great Fiat apocalypse that we find ourselves on again.
31:40
We don't know how long this is going to play out.
31:42
They can probably kick the can down the road a lot longer in
31:45
the Fiat games than even all of us are aware.
31:48
They're going to do whatever they can to continue and
31:51
perpetuate the dollar. I mean, we got a clip yesterday
31:54
of Trump basically saying, you know, like, if you're trying to
31:57
drop the dollar, like we're going to penalize you.
31:59
And then we're seeing that everyone is is actively looking
32:03
to drop the dollar right now. And as someone in America,
32:06
obviously, I think the US should adopt Bitcoin.
32:09
I want the US to maintain it's, it's, you know, superpower place
32:13
in the world because I want to see America do well.
32:17
And it's, it's upon the people in power to adopt Bitcoin.
32:21
And now we're seeing it's happening on, of course, again,
32:24
corporate level, the individual level, the nation state level.
32:27
And it's really simple, like you need to have some Bitcoin if you
32:30
want to ensure and protect yourself from the Fiat, Fiat
32:34
Titanic collapsing, which it seems to be doing.
32:37
It seems it's like the empire is losing its hold on money right
32:40
now. And the only protection you have
32:42
is, of course, simply Bitcoin. Yeah.
32:46
Niko. Niko, you're me or me.
32:48
1,000,000% guys if you guys are enjoying the show so far, make
32:51
sure to smash that like button. Help us break 100 likes within
32:55
the first hour of the show. I'm going to pass it to a not a
32:58
not. What's your take on all this?
33:01
So the Michaels Michael Saylor micro strategy story going from
33:07
1 billion to a $36 billion company within the span of four
33:10
years, simply incredible. And I'm quite, quite happy to
33:15
witness the whole journey through.
33:17
I'm quite happy that I was into Bitcoin before Michael Saylor.
33:21
And more importantly, I was able to witness him, you know, giving
33:26
an interview that, you know, Bitcoin is a waste of time.
33:28
Probably something on those lines way before, before he was
33:33
orange build. He goes on, reads the Bitcoin
33:36
standard and then he starts thinking about melting ice cubes
33:40
and he applies all the astrophysics and and everything
33:46
that he has learned as a rocket scientist and he's just like
33:49
goes full on Maximo. So it's just amazing, not just
33:53
from a numbers point of view, but if you just see his
33:56
conviction growing every single day and then how is rallying the
34:00
cyber Hornets? It's just it's just mind
34:03
boggling. You you may or may not agree to
34:05
everything he says, which is completely OK.
34:07
Bitcoiners are not the most agreeable and it would have been
34:12
it would have been weird if he was, you know, if you agree to
34:15
everything he says. But nevertheless, it's, it's
34:18
just an amazing story. And the clip we just saw it just
34:21
kind of links the, the actually the first and the second clip.
34:26
What Dylan is saying is that, you know, micro strategy is
34:28
growing so fast. In fact, people who are taking
34:32
on the convertible notes or shares are paying up to two to
34:35
three times more than the Bitcoin spot price.
34:37
So why are they doing that? Probably they know that, you
34:42
know, Bitcoin at a future date, you know, in a medium term,
34:47
medium term future date has a value of three times that it has
34:50
today. But just that they can cannot
34:53
put their money directly into the spot market.
34:55
So, so when the banks actually are able to, you know, make that
35:00
happen, which was the part of the first slip, then you could
35:04
just simply see the price 3X overnight.
35:06
We don't know, but it's very interesting to see people coming
35:09
together and, you know, a lot of people changing their tone and,
35:12
you know, becoming Maxis like Michael Seller. 100 percent,
35:17
100% man. And and vindication for him too.
35:20
He was getting so much heat when he was, you know, Bitcoin
35:24
dropped to 16 K and Microstrategy's average buy
35:28
price was the 30K and he just held strong.
35:31
And now he's vindicated, you know, and what, he's 2 exed his
35:35
initial position. And I think the best is yet to
35:38
come. Super, super exciting.
35:40
And it's just inevitable for other companies to follow in the
35:43
footsteps of MicroStrategy because it's obvious, right?
35:46
Anyways, guys, stay tuned. We still have the rest of the
35:49
show for you guys. Tons of content lined up.
35:52
We're going to talk about Elizabeth Warren.
35:55
She had a a debate with another senator from her state and she's
36:01
backed away from the political rhetoric in terms of the quote
36:05
UN quote anti crypto army. I wonder why it's not like that
36:09
was going to be a very popular talking point.
36:12
So we have clips for you guys. We're going to talk about it.
36:15
We're going to discuss it and of course, during the culture
36:17
segment, we're going to talk about Bitcoin keeper as well.
36:20
So guys, stay tuned. Let's hit the news.
36:23
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Anyways, guys, so here's Elizabeth Warren and she for
38:53
some reason thought this was a good idea.
38:55
I thought it was a terrible idea.
38:57
Like from a political strategy standpoint, the vast majority of
39:02
young people hold Bitcoin right or a form of crypto.
39:09
And a huge part of the voting demographic for the Democratic
39:14
Party are young people. So to go out and literally just
39:18
say, hey, I'm building an anti crypto army, I think is a
39:23
horrific idea. And we're seeing a little bit of
39:27
a backtrack. So yesterday there was a debate
39:31
because Elizabeth Warren is running for re election this
39:34
year. If you are from the state of
39:37
Massachusetts, Elizabeth Warren is on the ballot this year and
39:41
she is running against a a Republican who is being funded
39:47
by a parts of our industry as well.
39:50
And he just like just called out her BS yesterday.
39:54
So I have a clip of that. Let's check it out.
39:57
Senator Warren says she wants to build a quote anti crypto army
40:01
to rein in what she calls cryptos threat to financial
40:05
stability, consumer protection, climate and national security.
40:09
You have criticized her and federal authorities for what you
40:13
claim is overly aggressive regulation of crypto.
40:16
What's the right balance? One minute.
40:19
Well, listen, I want everyone to know when I found Bitcoin, I
40:21
thought of my mom because my mom was on welfare and food stamps
40:25
and she could. Keep a bank account because she
40:28
couldn't keep the minimum balance and the bank would hit
40:30
it with the predatory fees and we needed that money.
40:33
And then she had to go to the check cashing stores that you
40:36
see in the hood and they would charge her a fee.
40:38
My mom would beg them, please, can you take less so that we
40:41
have the money for food. And then when I went to college
40:44
and I would send her money from college, I used Western Union
40:47
and Western Union would take 15% and it made a difference.
40:51
So when Bitcoin came, I was like, great, you could cut out
40:53
the predatory banks in the middle men and the money grams
40:56
of Western Unions and you could help unbanked people like my
41:00
mom. But the better question here is
41:02
for Senator Warren. With illegal immigration
41:05
bankrupting this state, with inflation pricing regular people
41:09
out of economy, with a debt crisis where 40% of the people
41:12
don't have 500 bucks in case of emergency, with foreign wars
41:15
taking place. Why did this senator wake up one
41:19
day and say with all that I'm going to build an anti crypto
41:22
army because crypto is so important to her?
41:24
That's a question that she needs to answer.
41:27
Thank you, Senator. One minute.
41:29
So look, I'm fine. People want to buy and sell
41:31
crypto, that's great. I just want to make sure that
41:33
crypto has to follow the same rules as every bank, every
41:37
stockbroker, every credit union. And that is some consumer
41:40
protection laws and some laws to make sure that it's not open for
41:44
terrorists and drug traffickers and human traffickers in Iran.
41:49
So that's what I want. But I want to be really clear
41:52
about what's really at issue here, and that is who are you
41:57
going to represent in Washington?
41:59
There's one candidate standing here who gets 90% of the funding
42:04
to keep their campaign going from 1 industry, the crypto
42:08
industry. One candidate who has said quite
42:11
openly that his personal worth is 80% tied up in crypto.
42:17
Look, people of Massachusetts know me.
42:20
You know, I fight for everybody, fight for working people.
42:24
If John Deaton has a chance to go to Washington, his crypto
42:28
buddies are going to want a return on their investment.
42:32
He's going to be there to fight for crypto rebuttal.
42:34
Senator Warren never lets the truth get in the way.
42:36
If you actually look what I did, I've upset more crypto
42:39
billionaires because I did her job.
42:41
She sits on the Banking Committee.
42:43
I exposed all this regulatory captured by former SEC chair, by
42:48
the way, appointed by Donald Trump and Bill Hinman, appointed
42:52
by Donald Trump's administration.
42:54
There was an IG report. I'm responsible for a lot of
42:58
that of these conflicts. So I've upset more the crypto
43:01
billionaires than anyone did. The largest crypto fund blocks
43:04
me on social media. But here's the thing, her band,
43:08
her bill bans Bitcoin self custody in America, yet she's
43:12
allowing the banks to custody Bitcoin.
43:15
Another example that Senator Warren's policies do not help
43:19
poor people. They do not help the working
43:21
class. She favors the accredited
43:23
investor rule that excludes 85% of the American population.
43:29
She, her policies absolutely hurt poor people.
43:33
And I got in this race to give poor people an actual voice.
43:38
Amen, Amen. Look, if you, if you are against
43:41
Bitcoin, you are against the, the working class, you you are
43:45
against the working class, you're against the average
43:48
everyday man trying to get ahead.
43:51
Because if you have your money in a bank, you know the the
43:55
candidate didn't mentioned it. You know, you get charged that
43:59
management fee every month and you know, you get ravaged by
44:03
inflation. So if you're against quote, UN
44:06
quote Bitcoin, you know you're against that.
44:09
And Elizabeth Warren backtracking a little bit,
44:12
coward. I did not like that.
44:14
That's not what you said, Elizabeth Warren.
44:17
You said you went out of your way to use your friends at the
44:21
Wall Street Journal to make the case that Bitcoin was being used
44:26
to launder money for Hamas. And then it was only after all
44:30
the pressure that all the Bitcoiners made on Bitcoin
44:33
Twitter that made the head of the FinCEN in congressional
44:37
testimony admit that the vast majority of illicit finance to
44:41
fund terrorism is coming from the traditional financial
44:44
system. There is a there is news that we
44:46
covered earlier on the week where a bank, TD Bank, was fined
44:51
billions of dollars for facilitating money laundering.
44:55
When our industry does the same thing, quote UN quote, we got
44:59
thrown in the box, right, that literally our people go to
45:02
prison, they get a fine. So Elizabeth Warren is for the
45:06
big banks. Elizabeth Warren is not for the
45:09
people anymore. Elizabeth Warren is not for the
45:11
middle class anymore. If you're against Bitcoin, you
45:14
are by definition against the working man.
45:17
By definition, you're against the middle class.
45:20
And Elizabeth Warren does not represent the middle class.
45:23
Elizabeth Warren protects the special interests of these big
45:27
banks, and that's what that candidate was exposing.
45:30
Elizabeth Warren is a fraud, and I hope she gets elected out of
45:34
office because I honestly like she's a threat to the American
45:38
people. She's a threat to the movement,
45:40
to the Bitcoin movement, and she's being insincere in her
45:43
messaging. Like it's it's very clear it
45:46
it's a giant picture anti crypto army.
45:48
You want to destroy the industry, you want to ban self
45:51
custody. That's what you're saying.
45:53
And now that you're backtracking because you're on live TV and
45:56
you know that a lot of people don't connect with that, you're
45:59
kind of walking it back and you're, you know, you're kind of
46:02
dodging and weaving. That's not cool.
46:04
That's not cool. Elizabeth Warren is a fraud.
46:07
She has to get elected out and I I hope she does anyways, Opti,
46:11
what's your what's your. Well, first the the first part
46:15
is, is me kind of trolling because I I thought it was a
46:18
little ironic that John Deaton basically am I better?
46:23
Am I better? John Deaton basically started
46:26
with like, I grew up in a middle class family.
46:32
So first of all, I thought that was kind of funny.
46:36
The, the second part of this was, I mean, the, the main point
46:39
of Elizabeth Warren's rebuttal there was essentially saying
46:43
that she wants to, you know, now, of course, rolling it back,
46:46
she wants the same rules to apply to crypto as everything
46:49
else. And we've been covering this on
46:50
the show all year long. It seems like there's a double
46:53
standard in regards to the Bitcoin industry and traditional
46:56
banks. I mean, the big news story with
46:58
the TD Bank, you know, we got Samurai wallet Debs arrested, we
47:03
got the tornado cash guys arrested when TD Bank just got a
47:06
fine. So obviously there isn't one
47:10
rule set here. And it's not how Elizabeth
47:12
Warren is saying this it, it's a it's a double standard here
47:16
because I think she knows and I'm, I'm sure, I think we've
47:19
covered this in the past. Like I think it's becoming very
47:21
obvious, at least to me, maybe it's just because I got my
47:24
Bitcoin lenses on that Elizabeth Warren is working for the big
47:28
bank. She, you know, built her
47:29
reputation, her platform on this ID fighting the big banks, and
47:33
now it seems like she is in the pocket of the big banks.
47:36
And one of the main interesting things that she said, not only
47:40
was she kind of, you know, doing the same thing that like Bitcoin
47:44
is used for terrorism, but she kind of is going towards this
47:49
line of like quote UN quote big crypto.
47:51
And we saw Mark Cuban do the very same thing yesterday or was
47:54
it I think it was yesterday essentially saying the same
47:57
thing, but in regards to Trump. And so you're seeing that this
47:59
is a new narrative coming out right now that like, so I'm here
48:02
to, you know, run on a platform for all Americans and he's here
48:07
to just be a pro crypto candidate.
48:10
And while she was saying that, all that stuff, I'm like, wait,
48:13
like I, I'm already sold on him. Like quit selling me on him even
48:17
more. Elizabeth Warren.
48:18
This sounds like a good guy. I think we need more bitcoiners
48:20
in power. So I, I just find it interesting
48:23
that this is a new narrative coming out right now that like,
48:25
Oh, you're not going to, you know, make fair rules for
48:29
everyone. You're just going to lobby for
48:30
big crypto or big Bitcoin industry.
48:33
And you know, that's the, that's your, your main voter base and
48:37
all of your assets are in Bitcoin.
48:39
I'm like, this sounds like a good guy here.
48:41
Like I, I don't, I don't know. Are you trying to sell me on
48:43
this guy more, Elizabeth Warren? Because we know where you stand.
48:48
And it's just, it's just very interesting to me that they
48:51
continue to kind of roll the same narratives out.
48:54
And especially things are getting a little more heated.
48:56
And obviously as a Bitcoiner, we are more favorable towards John
49:00
Deaton, considering that Elizabeth Warren's been really,
49:03
really adamant and trying to fight the Bitcoin or crypto
49:06
industry. So, yeah, I'm like, I don't know
49:10
this, this sounds like a good guy to me.
49:11
I like, I'm, I'm sold on him, although I'm not in
49:13
Massachusetts. So, you know, I, I don't really
49:15
have a horse in the race here. But yeah, I, I would like to see
49:19
more Bitcoin candidates go go up and, and start talking about the
49:22
fact that they're all in on Bitcoin.
49:24
And further, I forget what the number is, but it's like what 50
49:28
million Americans hold Bitcoin or have touched Bitcoin.
49:32
So that's a pretty significant portion of the population here.
49:36
So hey, we are a part of this conversation.
49:38
We are citizens of this nation, and if you're fighting us, you
49:42
know, usually elections are kind of won on slim margins.
49:46
You're going to lose now if you continue to fight Bitcoiners.
49:49
So hey, you know, FYI, for everyone out there that's going
49:52
to continue to fight Bitcoin. 100% or not?
49:56
What's your take on all this man?
49:58
So, Nico, where I come from, I, I simply don't pay attention to
50:02
these things, honestly. And I and I, I kind of like see
50:07
if you, if you hear, hear that guy John, as soon as the
50:11
question was asked, he, he went to his talking points, right?
50:14
He was not really addressing the issues.
50:16
He was going for the sound bites and for stuff which would, which
50:20
would get him more popularity votes.
50:22
OK, My mom was this and I come from here and this and that that
50:26
had nothing to do with crypto. And I am very sure Bitcoin
50:29
really did not help his mom either.
50:31
But he was just saying all those things to you know, been more
50:35
sympathy. Having said that, I am sure he
50:38
is still a way better candidate then as with Warren, who is you
50:44
know, we at least from what I have understood is kind of
50:47
completely against everything crypto, including Bitcoin and
50:51
more importantly including self self custody, right?
50:54
And if she really wants to have the same standards, she should
50:57
have the same standards for banks as they have for crypto,
51:00
right? Why not?
51:01
So if you are if you are getting caught for laundering money in
51:05
Bitcoin crypto, then you should go in jail even when that
51:08
happens with HSBC or you know every bank, every other bank
51:13
that it happens with, but no one goes to jail for that.
51:15
Where where is the standardization there Where is
51:18
the same rule applies in that situation.
51:22
So these are all very, yeah, it's just nonsense.
51:28
Honestly, I just don't pay attention.
51:30
I just prefer to build, build, build and use my energy there.
51:34
Hopefully, hopefully something comes good out of it.
51:37
I'm, I'm sure there are good people.
51:39
There are people who really get it and something good comes out
51:43
of it. But where I am and where my
51:45
skills lie, I payless attention to this and you know, focus on
51:49
building more stuff. Exactly building building is
51:52
definitely definitely the way Anyways, everybody stay tuned
51:56
for the culture segment. We're going to talk to anot
51:59
about Bitcoin keeper. So stay tuned.
52:01
Here we go. All right, everybody, I do want
52:15
to give a shout out to our sponsor, the orange pull up
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pull up is for you. You pull it up and it will
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52:43
You can send them a message directly.
52:45
It's one of the best ways to contact me.
52:47
Don't really answer emails or Twitter DMS these days.
52:50
Don't ask me a question. Send me a message on the orange
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the QR code check the link in the video slash podcast
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stacks at all right everybody let's let's let's pull up Anot.
53:05
Let's talk to him so anot you are part of Bitcoin keeper.
53:10
Bitcoin keeper makes the way that I interpret it, I've been
53:14
looking at this it makes multi sig easy to use right Multi sig.
53:20
I would say specifically for people that are just getting
53:25
into custody could be a little bit daunting.
53:29
And it seems like you guys have made it incredibly easy and you
53:33
guys are offering multiple services, whether that's two of
53:36
three or three of five. And it seems like you have
53:39
concierge and inheritance supporting as well.
53:42
So I think these are all incredibly important things.
53:44
I think as a Bitcoiner, you go through different levels and
53:49
different parts. When you go down the rabbit hole
53:53
initially you you run into the, OK, I'm going to take self
53:56
custody and then you're like, wait, this is on one sig.
54:00
Maybe I'm going to, I'm going to take self custody and add the
54:02
25th word. And then the, the I think the
54:05
very end is I'm I'm going to take self custody with a multi
54:08
sig geographically separating my seed words.
54:12
So anyways, could you give a quick elevator pitch on what is
54:17
the Bitcoin keeper and who's who's it for or not?
54:21
Absolutely so so multi sig series Nico, the multi sig
54:24
capability that Bitcoin natively offers and a lot of block chains
54:28
don't is really a superpower. It it it allows you a way where
54:33
it's it's like it's like a joint account, but where you can, you
54:37
know, have the keys completely separated out, completely
54:41
disconnected from the online world as well as completely
54:44
disconnected from each other. So if you really look at the
54:47
security guarantees it offers you, it is quite unique.
54:51
However, it does come with some additional steps and some
54:53
additional things that the user has to take care of.
54:56
So as a company, our job is to provide a complete comprehensive
54:59
package where you can manage your keys very easily.
55:03
And that essentially comes with whether you want to do a single
55:07
SEC, whether you want to do a simple two of three multi SEC
55:10
where you know one of the keys is on your mobile device itself,
55:13
one of the keys is on our server, and you have one other
55:16
hardware wallet. So you don't really need 3
55:18
hardware wallet. We give a lot of options within
55:20
the app in terms of what you can use, use as a key.
55:24
But essentially the choice is with the user.
55:27
If they really understand what you know how, what, what kind of
55:31
security do they want, what kind of inheritance setup do they
55:34
want, You will find all the answers in the in in the Keeper
55:37
app. So that is essentially Keeper
55:39
app. Instead of talking more about
55:42
it, I would just encourage the audience to in this downloaded,
55:45
give it a try, give us some feedback and on X, you know, you
55:50
can just follow us and and look at our latest updates.
55:54
But we have been working hard. We've been working for almost
55:57
close to any close to a year now.
56:00
And it's, it's, it's simply an awesome product that I'm sure
56:03
most of the Bitcoiners will love.
56:05
So let's let's walk through for people that are perhaps not
56:09
familiar with how these collaborative custody multi sig
56:12
wallets work, right. So whether it's a two of three
56:15
or three of five, right, the user holds.
56:19
If it's a two of three, I'm assuming they hold two out of
56:22
the three keys. And then if it's a three of
56:25
five, I'm assuming they hold one out of the five keys.
56:28
Is that correct? No, actually.
56:31
So Keeper is a completely open tool.
56:33
What that really means is that the user decides who holds what,
56:37
right? And so it's not like a fixed
56:41
module that you have to hold just this or that.
56:43
And on top of that, they do not have to trust us with a key.
56:47
They can, they can have a two of three and maybe have one of the
56:51
keys held by one of their friends and two of the keys held
56:54
by themselves. Or if they trust an Uncle Jim,
56:57
then we don't want to come in the way.
56:59
They can simply have Uncle Jim hold one of the keys, one with
57:02
the Part 1 partner and one with another partner, any kind of
57:05
combination they want. So it keeps gives you a really
57:08
open platform where you can really set up the security like
57:12
the way you want. And we do encourage people not
57:17
to. So for example, Keeper doesn't
57:18
need you to create an account, right?
57:20
It's a self custody tool. We do not want to know who you
57:23
are. There are apps out there.
57:24
We have to go and create an account.
57:26
We don't encourage that. We do not want to get your
57:29
e-mail address, you know, phone number, any of the details,
57:32
right? So, so it's essentially a
57:35
software tool which gives you really powerful and simple to
57:39
use features where you can, you know, do a multi SEC the way you
57:43
want. For example, you know, there are
57:44
a lot of users who do a two or three or three or five there.
57:47
They are the most common, you know, templates in a multi SEC
57:50
situation and they generally like to go with people who they
57:54
want to go with. They may, they may leave one of
57:58
the keys on our server, but that's about it.
58:01
And even the key that you leave at, let's say you have a three
58:05
or five set up and you have one of the key on our server, which
58:07
we, which we call as a signing server.
58:11
It is simply that you need to authenticate yourself with a
58:14
Google Authenticator app. So you do not have to call us up
58:18
and give your passport and do a KYC for us to sign a
58:22
transaction. As long as you have that
58:23
authenticator app, you, you can get a signature from the signing
58:27
server. So it's a, quite, a, quite a
58:30
Bitcoin way of building things. And it is making self custody
58:37
even, you know, interesting and smart and sophisticated self
58:40
custody as easy as it can be. So that you know, a lot of
58:45
politicians and lot of politicians or governments or
58:48
goons if they want to get their hands on your Bitcoin keeper
58:52
just makes it way more difficult.
58:55
Yeah, I absolutely love that. That's that's that's it's the
58:58
Bitcoin ethos is hard wired into the way that you guys have
59:02
developed your product and that's absolutely awesome.
59:05
So I have a couple questions for you.
59:08
So there's also different services that you guys offer in
59:11
terms of inheritance planning and concierge.
59:15
So let's start with inheritance planning.
59:17
What is inheritance planning and what services is it is a pretty
59:20
difficult problem to tackle, right.
59:23
So essentially for anyone who doesn't know what happens, for
59:27
example, if you pass away for you know, it's just, it's just
59:32
unexpected. You don't know how, what's your
59:35
next of kin like how are they going to inherit that Bitcoin?
59:40
And that's exactly what you guys seem like you are trying to
59:43
tackle that problem. So how do you guys, how have you
59:46
guys approached that? So inheritance is a very, very
59:50
interesting, you know, interesting case study, but it's
59:53
also something that most of the Bitcoiners will have to answer
59:58
at a certain point in time. They might want to go for no
1:00:01
inheritance plan, but if they want to go for it, what what
1:00:03
does inheritance really mean? So if you really look at the
1:00:06
inheritance concept, it is not just having access to the keys.
1:00:11
Yeah, that's the most important piece.
1:00:13
Where your heir or the person you are be getting your wealth
1:00:17
to has the access to the keys. But if they do not have the
1:00:21
title to those keys, then probably.
1:00:24
What if someone else claims it? What if you know they have
1:00:28
access to it and you know the other sibling or someone else
1:00:31
comes along and they say you know what, this guy might have
1:00:34
access to it but it actually belongs to me.
1:00:36
And then they get into unnecessarily legal battle and
1:00:40
complications. So the way we have approached
1:00:43
inheritance in Bitcoin Keeper is around taking care of both the
1:00:48
aspects, taking care of the access aspects where you make
1:00:52
the keys more accessible for your air or whoever is the
1:00:57
beneficiary. And at the same time, we provide
1:01:00
some, you know, documents and templates where which you can
1:01:03
use to ensure that the title of those keys is, you know,
1:01:07
properly, properly passed on to whoever you want.
1:01:11
So that's, that's essentially how Bitcoin Keeper approaches
1:01:14
inheritance. And again, if you try it out, if
1:01:18
you look at the tools that it offers, it will it will make a
1:01:21
lot more sense. Let's talk about the concierge.
1:01:24
So you guys offer a concierge service as well.
1:01:27
So I'm assuming that is for people that perhaps are just,
1:01:31
they're new to this, they don't know how to set anything up.
1:01:34
Perhaps it's a little bit intimidating to them.
1:01:37
You guys offer a service where you know it.
1:01:40
It helps you, you walk people through either inheritance or
1:01:45
setting up the variety of of of multi sig options that the the
1:01:51
the Bitcoin Keeper app allows them to do.
1:01:53
Is that correct? Yeah, absolutely.
1:01:55
Because I'm just going to look at some comments and yes, it's
1:01:58
completely open source. All our apps are open.
1:02:01
So open source, not just the Android app, but even the iOS
1:02:05
app and the desktop companion app is open source and and yeah,
1:02:11
so coming to the concierge question Concierge.
1:02:14
So when we were building this tool and it's it was getting
1:02:17
really interesting in terms of the variety of things you can do
1:02:21
with a multi multi sig and inheritance and how you want to
1:02:26
manage the keys. For example, we have a feature
1:02:30
called Canary wallet. Now Canary Wallet allows you to
1:02:35
keep some, you know, a little bit of funds in some of your
1:02:39
keys such that let's say you have a two or three or three or
1:02:41
five. You, you would probably keep 100
1:02:43
or $200 in, you know, as a Canary fund in each of the keys.
1:02:48
And if someone really gets hold of those keys and they try to
1:02:54
withdraw or take away those, those, those many dollars,
1:02:58
that's the first thing they would do.
1:02:59
They would just like to, you know, use those seed words or
1:03:01
the hardware wallet, if they can crack it and try to see what's
1:03:04
in there. And if they find those, you
1:03:07
know, those, those sets in there and they take them away, That's
1:03:10
kind of an, you know, global alarm for you that one of your
1:03:14
keys have been compromised out of the five keys and you can
1:03:18
quickly change it around. So what I'm trying to come to is
1:03:21
that you can do some really amazing things with multiple
1:03:25
keys and and it's finally a piece of code so you can really,
1:03:29
really do some nice things with it.
1:03:32
Having said that, when we were building features, it became
1:03:35
quite apparent to us that that just building features is not
1:03:39
enough. Having so many features also
1:03:42
means that user might need a helping hand, user might need a
1:03:46
white glove service, they might need a Technical Support, they
1:03:48
might need troubleshooting at different points of time in
1:03:50
their journey. And it's completely user
1:03:52
dependent where they are, how much technical they are, how
1:03:55
much time they're ready to spend.
1:03:57
So that's why we launched, you know, keeper concierge service.
1:04:02
It's essentially a chat based interface, which will
1:04:06
potentially lead into a call or a video chat if you really want
1:04:09
to go that far. But essentially we have launched
1:04:12
it in beta right now. But the whole purpose, like I
1:04:14
explained, is to hand hold the users who need help in setting
1:04:19
up setting up their their security scheme or their vault,
1:04:24
however they want to set it up it.
1:04:27
We try to make sure that we do not hold any of the keys or try
1:04:32
to, you know, look at what the user is doing or, you know, have
1:04:37
a have any kind of privacy interference with with the user.
1:04:41
But at the same time, there are a lot of opportunities where you
1:04:45
provide troubleshooting or Technical Support or just being,
1:04:49
you know, there to answer some basic questions.
1:04:51
OK, is this hardware better or that hardware better?
1:04:53
What are the trade-offs between the two?
1:04:55
Should I go for two or three multi siga three or five?
1:04:57
What does it really mean? What do you mean by this, this
1:05:00
particular feature and so on. So that's essentially keeper
1:05:04
concede which we are building right now and it I think it
1:05:07
would be a very powerful plug in to the whole Bitcoin keeper
1:05:12
platform. Awesome, so we are getting to
1:05:15
the top of the show and there's currently 1500 people watching
1:05:19
live between YouTube and X, and of course people watching on
1:05:23
Rumble and Noster as well. If you have any final messages,
1:05:26
final thoughts for them, what would they be?
1:05:30
No, I just say like, help me build a better product and try
1:05:34
to use that and give us feedback.
1:05:35
We have a Telegram group of a lot of people who, you know,
1:05:39
come in there, help us out, test our, you know, beta releases and
1:05:45
that's about it. That's, that's, that's what I
1:05:47
would believe your audience with, by the way, it was, it was
1:05:51
an amazing show as well. So I, I really love being on it.
1:05:55
So thanks for that too. Well, thank you so much for
1:05:58
joining us guys. This was simply Bitcoin Live for
1:06:01
October 16th, 2024. I'm your host Nico streaming
1:06:04
live from Paris and of course, my legendary Co host Optimus
1:06:07
fields and our guest for today, a not from Bitcoin keeper.
1:06:11
Go check out Bitcoin keeper at bitcoinkeeper dot app.
1:06:15
They make Bitcoin multi sig incredibly easy to use.
1:06:19
In my opinion. You got to use multi sig it it's
1:06:22
it's like you go down the path of self custody and eventually
1:06:26
you run into multi sig. And I'm so glad that these guys
1:06:30
are just making it easy to use without sacrificing the security
1:06:35
aspect of it. Anyways, guys, if you guys
1:06:37
enjoyed the show, make sure to smash that like button.
1:06:39
Consider subscribing. And of course, we'll see you
1:06:41
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1:06:48
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1:06:52
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