Latest / Simply Bitcoin / EP380 Will Bitcoin be Exempt from Capital Gains within 5 Years?

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EP380 Will Bitcoin be Exempt from Capital Gains within 5 Years? · Simply Bitcoin

0:00
Welcome back, we're simply Bitcoin.
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We break down the news from Twitter.
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The daily failed need review software releases the hardware
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releases and the websites by plebs.
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We are going to The Numbers, let's do it number time.
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Number time is brought to you by Bitcoin 2022, it's gonna be the
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largest Bitcoin conference ever. To be hosted in sunny, sunny
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Miami beach, but get your tickets quickly because the
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prices do do go up, but you can take advantage of the link down
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below for 10% off your ticket to bitcoin 2022 at the time of this
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recording. The block height is seven
0:35
hundred and twelve thousand. Nine hundred fifty nine the
0:37
Bitcoin price 50,000 710 chain rewrite days 798 total public.
0:43
Lightning capacity, 3270 9.45 Moscow time, back below 2K 1972,
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blocks to the have inning 127,000 41 Nico, the light, the
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public lightning capacity is holding steady Yeah, it's very
1:01
nice. And you know what?
1:02
I put out a tweet today, which I will give you the link for,
1:06
okay, we'll give you the link for it from a screen shot that I
1:10
took back in 2018. Okay.
1:13
Where we had a lot less capacity, a lot less there was
1:16
only 45, I think it was like a, I don't know, man.
1:20
It could have been 450 Bitcoin at the time on the network.
1:24
Anyways, yeah. So we'll pop that up and show
1:27
you some frame of reference. So, where we are right now,
1:30
okay, roads. It's gone.
1:32
Exponential, and I have some more, even bullish stats, Phil,
1:36
check this out. There's a very common myth,
1:39
right? And the myth goes something like
1:41
this, right? Because the block subsidy write
1:45
the amount of, you know, block reward you get gets cut in half
1:49
every four years, right? There's this myth, which is
1:52
Bitcoin mining. Uh, is unsustainable.
1:55
And if you think about it, like from a practical perspective,
1:58
that kind of makes sense, right? If the reward gets cut in half
2:01
every four years, then shouldn't minors be making half every four
2:06
years. Well, the exact opposite of that
2:09
happened. And this is a really good, you
2:12
know, chart by Lynn Alden, right?
2:15
She put it together, her sources were and why dig remember that's
2:19
the company behind Bitcoin for institutions and check this out.
2:22
Fill 20 Evan. The the market cap of Bitcoin
2:26
was 338 million dollars. The annual security spend was 18
2:31
million dollars fast forward to 2021 the Ave.
2:37
The average market cap is 850 billion dollars and check this
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out. The average, the annual security
2:45
spend is sixteen point five billion dollars and the
2:50
percentage of that market cap. It actually grows louder.
2:53
Lower over time and actual revenue of this is somewhere,
2:58
man. It's in the tens of millions of
3:00
dollars and how much my I think it's a, a huge amount of how
3:05
much miners actually profit. Now I just want to point this
3:09
out, guys. Miners are actually making less
3:12
Bitcoin every year, but in Fiat value, they're actually making
3:18
significantly more, right? That's the beauty of Bitcoin.
3:22
That's what absolute Dear cetea does.
3:24
But anyways, other really cool, interesting numbers as well,
3:28
right? This is an article by fin bold
3:31
despite Bitcoin significant price.
3:33
Correction to below the 50 thousand dollar Mark over the
3:36
weekend. This is the signal guys.
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Remember I told you how important the hash rate is the
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asset mining hash rate has increased indicating mining
3:45
activity has not been swayed by the price movement over the last
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30 days the Hatchery has increased five point nine one,
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Sent from 150 to Texas has. I don't know whatever you guys
3:58
get it and 106 and sixty One X. Two hashes, man, I always mess
4:03
it up. It's Tara hash, it's Tara its
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Tara hashes. Okay, I apologize guys.
4:07
So anyways, you guys get the point.
4:10
The hash rate went up. Let's look at a you know the
4:13
drill. We don't censor.
4:14
Sounds absolutely Bitcoin. We fuck up.
4:17
This is live. No it's not live but you guys
4:19
get it's recorded live anyway. Get Live Well living alive.
4:23
Anyways, so and check this out. This is absolutely bullish,
4:28
right? This is the hash rate, this is
4:29
the infamous China, banned. The absolute fall off the cliff
4:33
because of Bitcoins incentives, right?
4:36
Miners are just flooding into the network and what happened?
4:39
Yesterday was crazy. Even though we had that, that,
4:42
that price blip, the hash Ray has already started to recover.
4:47
And remember, what I've told you guys and I haven't said this in
4:49
a while. I said this many months ago,
4:51
guys, when the hash rate is going, Going up the price tends
4:56
to follow right. Historically speaking.
4:58
That's that's always what happens and think about it this
5:01
way, right? The higher the hash rate, the
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hot, the more secure, the Bitcoin Network, the higher, the
5:07
value proposition, right? So you want that hash rate to
5:10
keep going up forever? And when I see the price fall,
5:14
but the hash rate going higher, what I'm seeing is Essentially,
5:20
a cheaper deal, right? You're buying a secure network,
5:23
you're buying Bitcoin, that's more secure, right?
5:26
For a cheaper price, right? So, just some observations, you
5:30
guys know that we don't like to speculate but we're showing you
5:34
raw data Phil. That Lynn Alden tweet that is
5:39
absolutely amazing. Right?
5:41
Because we can clearly see what's happening with Bitcoin.
5:44
We can clearly see the value. That that is dumping yet.
5:47
Take a look at that, right? Look at that 20:21.
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Right? 1.9 percent of the market
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capitalization. Is for Bitcoin security.
5:58
That's a beautiful thing. This goes completely against all
6:01
of the BS narratives that they've been trying to spit out,
6:05
okay? And, and the thing is this,
6:07
right, because Bitcoin, it's essentially a constant fight for
6:10
the cheapest energy, right? And as a result because of the
6:14
low time preference, because of the value, because of the value,
6:20
that that did a cruise in that, it absorbs out of the system.
6:24
I believe that this is going to Inherently incentivize people to
6:27
come up with ways right for cheaper and cheaper energy.
6:32
Yeah dude, it is actually just it makes perfect sense.
6:35
It's it looks. Yeah, go ahead.
6:38
Yeah, go ahead. No, no, I'm pulling a Canadian,
6:40
go ahead, that's okay. Just I just want to thank you.
6:43
Here's some, maple syrup and a hockey stick.
6:46
But look, like, man, we all have them.
6:50
You know, I had tons of hockey sticks.
6:51
My garage, man. You'd open up my garage Mather
6:53
was, like, six hockey sticks of which I never use.
6:55
You know what man they were there.
6:57
They were ready. No, but, but look the, in terms
7:01
of the, you know, in terms of this, right?
7:02
We don't understand this is what we've always said, right?
7:05
We don't understand what having this scarce ask that is going to
7:08
do. And we you know we hear these
7:10
stupid claims about how like I will that's going to just stop
7:12
everybody from spending money. No it's gonna what it's going to
7:15
do is it's going to force people to innovate better, okay?
7:20
Because in order, to get somebody to separate themselves
7:23
from their Bitcoin, you're going to have to provide quality.
7:25
Quality, right. Which is what we should have all
7:26
been providing from the beginning.
7:28
We'd probably be in a way better situation today.
7:30
Anyways, so that's why I think that this is, this is beautiful
7:34
stuff 1.9% eventually, it's going to be zero point
7:38
something, okay? It's going to be zero point
7:41
something, and people aren't going to believe it and they're
7:42
still going to be crying from the rooftop saying that it's odd
7:44
boiling. The ocean where melting
7:46
everything. No, I mean, but those people are
7:49
going to have fun staying park. Is there going to be the last
7:52
ones to be buying Bitcoin but you guys heard it here first?
7:55
At 100K Phil drinks, some maple syrup.
7:59
Anyways it's time for the daily fail.
8:03
The daily fail is brought to you by Ember app.
8:06
Check them out. Amber dot app, it's Bitcoin,
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Made Easy. The easiest way to invest in
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Bitcoin. It's an app for stacking sites
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by actual bitcoiners. Check them out.
8:15
The link is down below you know I'm hearing I'm hearing that
8:19
yellow is a bit of a bit of a prima donna, he wants to, he
8:22
wants to have limos wants to be able to smoke.
8:25
Smoke On The Plains no, it's going on with that yellow Amber
8:30
smart way. Stuck sounds.
8:32
All right, got a couple couple of short little ones and then
8:37
and then like a proper drawn out story, but let's dive into some
8:40
funny stuff, right? This is a tweet by BTC sessions.
8:43
We want to be the Amazon web services of crypto says
8:49
coinbase. Exact.
8:50
And this is absolutely magical from Jimbo.
8:53
Amazon web services is the Amazon web services of shit
8:57
coins. Yes, it is Jimbo.
9:00
Yes it is. Whew.
9:04
And you know how, you know how we know few because people are
9:07
still buying this crap. That's how we know few it is.
9:10
Anyways, that is uh, that is how we know few, it's true.
9:15
It's just, you know, it's right there.
9:16
It's evidence. All right, we got tagged by mr.
9:18
Robots from a retweet from Jameson Locke.
9:22
This is, this is pretty good. Okay, the average of all, 10,000
9:26
crypto punks. Does that look familiar to
9:28
everyone? Like the same thing that
9:31
everybody has seen? Wait, Phil, hold on.
9:33
Yeah. Right now, we're gonna go take a
9:34
look at the crypto right-click. Save right, click save.
9:37
Oh yeah. No, absolutely wait, save save,
9:41
yeah. Fun.
9:46
But we own it. Well we own it now we own it.
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Look this is this is the true average of all of the above all
9:52
the crypto punks. Right?
9:54
That this is average crypto Punk.com.
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This is take. Take a look.
9:58
Did you guys get it yet? No, you don't get it.
10:02
Look. You see what you're looking at
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all these faces. Okay.
10:06
This is the, this is the average of all. 10,000 of them.
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Oh, so they're all averaged together, the same.
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It does look the same. That's why I was confused.
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I was like, is it gonna look weird man?
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Probably people Skies with these people that are buying.
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This is so ridiculous. You're not paying for this.
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You're not paying for this image, you're paying for a
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unique, hash ID. You've been tricked, you've been
10:30
tricked. Everyone can have this image
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anyways. Okay.
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All right, we're done with the nft.
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We're done. All right.
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Here's our kind of dyad say it's our joke of the day, right?
10:41
These fails our kind of just becoming funnier and funnier,
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right? Kandi oh is launching the first
10:47
social network Launchpad. Nico you better hold on to your
10:51
seats man. I hope you have a drink.
10:54
I hope you're ready to go because man they're about to
10:56
flip social networking on its back.
10:59
Here we go. Kandi oh an overlay layer
11:03
Solution. That's right.
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I said that people. An over layer solution.
11:09
So it's a cover, is that what that is?
11:13
The comforter and it was we don't know but it's an over
11:16
layer solution for the social shit coin world has launched its
11:21
social network launch pad. This is the first of its kind in
11:26
the shit coin industry, having a world where everyone and anyone
11:29
can build scale and expand their businesses irrespective of.
11:33
Whether the person is a business, professional is
11:35
possible through the social network communities side note.
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You can do this right now without out a shit coin by
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signing up to social networks and posting content and building
11:51
a brand if you so choose, if that's what you want to be.
11:53
Anyways, I digress. I'm sure that I'm totally
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missing the point of why this needs to be some form of money.
11:58
Anyways, what is a social network launch pad?
12:01
Well, good question, Niko, what is it?
12:03
All right, while a blockchain powered social network launch
12:06
pad can be likened to a decentralized autonomous
12:10
organization, you know, those things from the wrecked
12:12
leaderboards that we show you guys.
12:13
Sighs. Yeah, it's just like one of
12:14
those right centralized garbage where the community members,
12:17
determine what goes on within the ecosystem.
12:20
For instance, the community can decide what business to fund,
12:22
then how much with a social network Launchpad?
12:25
Everyone has an equal chance to be successful and established
12:27
since there will be equal opportunity for all.
12:31
I'm pretty sure that there's something called crowdfunding
12:35
today. There's also Kickstarter I mean,
12:39
I know that they accept, you know, USD and other currencies,
12:43
but anyways, I'm sure that I'm again, we're missing the point
12:46
Nicolai, this needs to be money, right?
12:49
Yeah. Okay, the candy or social
12:51
network Launchpad, distributes Revenue to all active
12:54
communities. Nice revenue from w.
12:56
We have no idea. Okay, if a member gets involved
12:59
with his community, the user can create tokens.
13:03
Of course they can. Everyone needs to make their own
13:05
money. Create tokens maximize their
13:07
potential candidate. Oh makes users see their money
13:11
as data and it is entirely up to the users to determine how much
13:14
data they generate in the Canon. EOS ecosystem money is equal to
13:18
trust and Goodwill. Users can create tokens and
13:21
increase the amount of money. They can earn from the project
13:25
who's gonna buy these tokens. Why are they going to buy these
13:27
tokens? What is the point of this crap?
13:30
Why does it need to be money? This is what happens when
13:33
technology can't get funding because it's it really?
13:38
Has no future, right? And the people that are building
13:41
it know that it's dog shit. They know that it's dog shit and
13:45
that's why they're making a token.
13:46
Anyways, the problem that can deal with solving nice.
13:50
They're going to help us out there.
13:51
Going to tell us the use case. Startups face, myriad's of
13:54
problems in today's world without a solution.
13:57
The world will be robbed of great and impactful projects,
14:01
the kind of thing I would have written back in, like, you know,
14:03
High School. Sounds good.
14:04
It's good. Opening line, right?
14:05
Going to fix it. All these problems include the
14:07
following unfair, Distribution of funds and difficult access to
14:10
essential assets, multiple channels for different Target
14:13
groups. Hi marketing cost and limited
14:16
utility to personal and business tokens or even I don't know how
14:20
they're solving any of this the candy or social network launch
14:23
pad, enables startup Founders to use their tokens and network
14:26
with others within the community.
14:27
They can raise funds and further, develop their Community
14:30
with candy out. Any individual can present his
14:32
business concept, build a community around.
14:35
It use various cost-effective marketing tools Implement their
14:38
solution in the World and watch the impact in real time, which
14:41
is exactly what people do Ted day.
14:45
Already. It's already happening.
14:47
All of this doesn't need its own form of money, doesn't you don't
14:51
need to go out and make your own tokens and pretend that that's a
14:53
thing. Anyways, here we go.
14:58
Candy L is a comprehensive over layer solution as I mentioned
15:02
before for the social cryptocurrency world.
15:05
So it's the second time they tell us that clearly they are
15:07
running out of points. Okay.
15:09
It connects Every Chain layer and decentralized application
15:14
can deal serves as As a multi-chain platform with an
15:16
over laying set of tools and solutions that connects
15:21
different crypto communities. Its features include candy pad
15:26
which serves as a trustless social launch pad designed for
15:29
community members to vote on whether their money should be
15:31
accessible to the fund, raiser? Depending on the pre-agreed key
15:36
performance indicators. Yeah, the metascan is another
15:40
feature that enables users to see and track everything without
15:44
the need for third. Already analytics tools, which
15:46
often provides wrong. On chain data, they give you
15:49
nothing behind that. I mean, that's just a sentence
15:51
right there. Boom, or metascan does better
15:54
than everybody else is tracking. We know you just say it, man,
15:57
you say it, and it's true. Okay, wait, we haven't even gone
16:01
to their website yet the candy chain featured allows can do to
16:05
save most users activities on a public chain.
16:07
Where others can periodically review them?
16:10
That sounds so useful. Members can track the activities
16:15
for of one another from their very beginning, for the canned
16:19
ID, it serves as is a dedicated nft based on digital ID,
16:25
connected with an omni scan history of Walla transactions.
16:29
That that was complete verbal diarrhea, total, total verbal
16:33
diarrhea. I don't even know what I said to
16:36
you people. No clue, let's take a look at
16:38
their website now, right? That was a great fluffy article,
16:41
which told you, absolutely nothing.
16:43
Okay, I still do not was listening to the house.
16:45
Like, what does this mean? What do they do right?
16:49
Why why am I, why does it all of a sudden need to be money?
16:53
Because as you can imagine there is a token behind this, right?
16:56
Let me, let me ask you something, Phil, yes, you said a
16:58
lot and I just don't want people to lose track.
17:02
What you mean by that? What do you mean by?
17:04
It doesn't need to be money. Why does it not question?
17:08
Why does it not need to be money?
17:10
Yes, excellent question. Okay, so what happens a lot of
17:13
With the shit Club minimize the screen.
17:15
So people go. Oh okay, okay yeah, we'll go
17:16
into the what happens a lot with these shit coin projects is is
17:20
that they're offering essentially what they're doing
17:22
is that they're offering a token based on a specific feature set
17:27
and a specific technology. Okay.
17:30
Now when I say, that technology doesn't need to be money, that
17:33
is exactly that, that technology that feature set does not
17:38
require to be a store of value. It doesn't require to be Be
17:43
censorship resistant or anything like that.
17:46
Okay. It doesn't need to be anything
17:49
that money is it is a technology, a technology to be
17:53
applied to a proper base layer. So if the technology is
17:58
worthwhile, it'll eventually get ported to bitcoin if it's
18:02
actually worth. While if it's not it will stay
18:04
as a shit coin and it'll die on the vine.
18:07
Because at the end of the day, that one feature right does not
18:11
need to be money. So I have a I have a rhetorical
18:15
question that I know the answer to, but I think people would
18:18
appreciate the answer from you is so why would they create
18:23
money for that? Okay, well, they're going to
18:26
create money for that so that they can steal your Bitcoin and
18:30
they can essentially steal your wealth, right?
18:32
Because essentially what's happening is this right?
18:35
Their technology in most cases can't get funding through the
18:39
proper channels, okay? And as a result, they can come
18:43
here, right? They can come to the shit coin
18:45
space. They can make a token and they
18:48
can quote unquote Market their technology as that token, okay?
18:54
But somebody who's like as somebody, who's actually in my
18:58
job, I've used a shit coin technology.
19:01
I had no choice, right? This was one of the Integrations
19:03
into our product, okay? The token.
19:05
Is civics, right? So essentially Civics offers
19:10
identity Solutions, right? It?
19:12
What happens is that you provide your identity information to
19:19
Civics, okay? And then they essentially
19:22
provide validation for your identity, okay?
19:26
To other applications that use it.
19:29
For example, if you have a, let's say, a visitor, a, you
19:32
know, like a visitor management system to your building, okay?
19:35
And everybody is using the Civics app, right?
19:39
Well, they're going to have their ID stored on the Civics
19:42
app and let's say that integrates with the visitor
19:46
management system in the building.
19:47
You go to that building. You will present the you know
19:50
your ID, your Civics ID and you'll be allowed to enter into
19:53
that building based on those credentials.
19:56
Now did I mention money in any of that transaction to?
19:59
You know, did I mention that any of that needed to be money?
20:04
No, it's a technology. Elegy.
20:06
A technology that a company buys more specifically.
20:09
It's an it's an API call to a database hosted by Civics a
20:16
centralized database hosted by that company.
20:21
That has your unique identifier identification information.
20:25
Why does it need to be money. So, it's almost as if right
20:29
there, using the guise of this needs to be a token to raise
20:35
money. Essentially curtailing, all the
20:39
existing Securities laws, which cover this completely which by
20:43
the way, will cover in the news and a bit too, you know, kind of
20:48
raise money from the public without having the scrutiny of
20:52
Securities laws. That that sounds like what
20:54
they're doing. Phil it kind of does Nico.
20:57
It kind of does, that's right, but not not that.
21:02
I'm a fan of government intervention in anything.
21:05
But the Securities laws are essentially there to protect the
21:10
investor from getting fucking scammed, right?
21:13
And what you'll see with a lot of, you know, the shit coin
21:16
projects, including the one that fills reading right now, is that
21:20
they use a lot of Highly technical jargon right to kind
21:23
of spin you into thinking. It's a phenomenal idea where
21:27
they get massively wealthy because everyone's just sending
21:31
them aetherium, whatever shit going they used to raise money.
21:35
And 99.99% of these projects deliver zip but you know who
21:42
doesn't get the money back you and the founders get filthy
21:45
rich. With all of those, all that
21:48
money that they raise for supposed token, that you're not
21:52
buying for the technology, you're buying because you think
21:57
that token is going to 10x. That's true.
22:01
And, and, and keep in mind, right?
22:03
I just want to add the, you know, the, the company, you
22:06
know, the company that uses the civic's API doesn't have to
22:10
purchase the Civics token. There is no Transaction.
22:14
What so ever regarding that token it any point in the
22:20
process in their products. So you are literally buying a
22:25
Chuck-E-Cheese talk. It's no joke.
22:27
It's like Nike making a token right now.
22:31
You want to, you want to own a piece of Nike buy some shares.
22:33
And now, right? What is the difference between
22:38
that and Bitcoin? Between what in Bitcoin, the
22:42
shit coins, the the utility tokens because that's really
22:46
what they're called. Hmm and Bitcoin.
22:49
What's the difference? Well there's a lot of
22:52
differences but essentially Bitcoin has two things, right?
22:56
There's Bitcoin the network and there's Bitcoin the token right
23:01
like that. That's what actually happens
23:02
with the focus on the toe cap. Why should people buy Bitcoin?
23:06
The token and not the shit coin. Utility tokens people should buy
23:12
Bitcoin the token because it's not actually it has no head.
23:16
There is no company. It is actually doing exactly.
23:21
What it is intended to do, which is store and transfer value
23:26
censorship resistant lie without having to use that word without
23:31
having to trust any individual. Because as we've learned
23:35
throughout history, as soon as you trust an individual whether
23:39
it's the head of, you know, Candy chain, whatever or civics
23:44
or xrp, or vitalik, they could change the monetary policy.
23:51
Right. You know, we just heard recently
23:53
that etherium did another hard Fork, right?
23:56
You know, that means that if you don't update your etherium, note
24:00
that etherium that used to have now.
24:02
It's useless garbage, right? So yeah, mine.
24:04
I think that's the key difference and I asked you all
24:07
those rhetorical questions fill because I feel like feel like a
24:11
lot of the audience members was, you know, kind of they had
24:14
questions, you know, which is like this doesn't need a token,
24:17
right? So I hope everyone learned a
24:19
little bit. There you go.
24:20
We tried. We tried to do a teaching
24:22
lesson, even though, even though we're not the greatest teachers,
24:24
we're better entertainers than we are teachers.
24:26
It's, but, anyways, this is an entertainment Channel after all,
24:30
it's true, okay? So, hold on.
24:31
Let me, let me wrap this up. Let's take a look at.
24:33
Wrap it up. Let's take a look at their
24:35
website. Why does this need to be money?
24:37
Decentralized, social network, join as and get exclusive P RV,
24:44
sale Launchpad, access 50, CDO. CDO is the Kendo token Right?
24:50
700,000 CDO giveaway, or a dream car.
24:54
Boom, that's why this is money. Daily giveaway.
24:57
They keep reminding us over and over again.
24:59
This is a comprehensive over layer solution.
25:03
Now, you've been listening to me for at least 10 minutes.
25:06
Has anyone figured out what an overlay or solution is for the
25:11
social cryptocurrency world, but it sounds nice.
25:15
It's an overlay or Nico. Okay, so here you go.
25:18
This is the The token guys, this is it right?
25:22
Draw the token in the middle, put a bunch of circles around
25:25
it. Show you how the ecosystem is
25:27
going to look. Now, I'm going to point out.
25:28
One thing that's very interesting, you'll notice, none
25:30
of these circles connect, okay? You'll notice that all these,
25:35
all these bubbles, all around, you're sitting alone on your
25:38
Island and nothing's happening. Nothing's happening.
25:43
Okay. They couldn't even draw this
25:44
freaking chart, right? Anyways, let's go down.
25:48
Let's take a look at some more of the features.
25:50
This was one, I found very interesting.
25:52
Okay, again keep in mind, this is this is somehow, for some
25:56
reason you're going to come onto this and you're going to create
25:58
your own token and for some reason other people are going to
26:02
buy your token or invest in your idea.
26:06
Using your token or you're going to sell them tokens?
26:08
I don't know. You're just you're going to get
26:10
rug pulled. You just shit cleaning.
26:12
Anyways, here we go. Match a Phi, a wide range of
26:15
recommendations will be made to candidio users based on their
26:18
activity, both off and on chain including investors with similar
26:23
portfolios feeds that may be of interest to them.
26:26
Okay, so look guys, We provide all the links.
26:33
You can go dig through this complete shit, show.
26:35
All on your own if you want, but that little piece.
26:38
Okay, what I just read to you, right there should tell you
26:42
everything. They took, they took Twitter,
26:47
they took Facebook, they took Instagram Snapchat.
26:52
They just took all these different things and crypto,
26:55
right? Because you've got to include
26:56
the shit coins because otherwise, there's no reason for
26:58
you to own this token, right? You throw in some token, our mix
27:01
around this, and we're going to build an ecosystem where
27:05
everyone can grow. I'm pretty sure, I'm pretty sure
27:11
that we to a certain extent free.
27:13
Matt you know free markets and capitalism hasn't entirely died.
27:16
There are still pockets of it out there and I'm pretty sure
27:19
that anybody with a great enough idea can make it happen and they
27:23
don't need this absolute garbage token or this platform.
27:27
Sorry I think you hit the nail on the head bro.
27:30
I think that you know shit coin platforms, they they're taking
27:34
advantage essentially what they do, right?
27:37
You know, they do Do the association's right?
27:40
You know, we've shown you the email where they contact me.
27:42
Hey b, v mining. Do you want to work with salana
27:45
like, stuff like that. So they get the brand
27:47
Association, the influencers association, and they try to
27:51
pitch. You, this idea of this great
27:54
company, right? But what they're really doing is
27:57
that they're curtailing the traditional way of raising
28:00
funds. And essentially there's
28:02
suckering people in to part with their Bitcoin, right?
28:08
You've been seeing this happen since 2017?
28:11
Okay. It's the same thing.
28:12
Etherium did the same thing, right?
28:15
It's the same, it's the same method where literally they come
28:20
up with an idea. They brand they Market the hell
28:23
out of it. They tell you a million and one
28:25
reasons why you should buy this. You part with your Bitcoin, you
28:29
give it to them, they keep all of that, right?
28:33
And then you get stuck holding worthless bags of a Eli's shit
28:39
coin time and time again. This is exactly what they do.
28:42
This is exactly why we have a whole segment to debunk all
28:47
these shit coin narratives and hopefully save some of you guys
28:51
a little bit of Bitcoin but anyways Phil it's time for the
28:55
Daily Mirror views. The daily me reviews sponsored
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by Citadel 21. It's the best Bitcoin culture of
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29:18
All right, everybody, the first meme is brought To Us by one of
29:20
the meme. Lards Big, Sean Harris.
29:23
Let's check it. Out, says, pretty much.
29:26
I met someone. We, we talk, I tell them how
29:29
Bitcoin is the king of money. The best invention of Our
29:32
Generation fastest thing to grow to one trillion and did it with
29:35
zero Market on its way to be the world Reserve currency.
29:38
That's a standard. Fix the money, Bitcoin is the
29:40
whole preference thing. Poor few, they leave and the
29:42
cycle repeats, highly accurate. My girlfriend doesn't want to
29:46
hear it anymore. Anyways, moving on.
29:48
And if I was dating, I wouldn't, I would just keep it to myself.
29:52
I wouldn't say anything, you know, because they, they're
29:54
gonna think I'm weird. Okay.
29:55
Anyways, the probably see the laser eyes coming out of my
29:58
eyes. I just anyways, this next one's
30:01
brought To Us by looks like another fellow bit Corner.
30:04
Susie be ethereum is more volatile versatile than Bitcoin.
30:08
Are you absolutely hilarious, moving on to the next one.
30:14
Hon. It's by the legendary Rd.
30:17
B TC quiet. Jerome.
30:19
Powell is going to say, something is a very famous scene
30:23
from Forrest Gump, right? When he goes for that, like
30:26
something, long-ass run and all these people follow him, Jerome.
30:30
Powell Wall, Street, Wall Street, quiet quiet.
30:33
He's going to say something. We might start tapering.
30:36
That's it. We're fine.
30:41
Oh man, that's a great one. Okay, next one.
30:43
This is by counterpoints. Let's check it out.
30:47
This is making fun of the recent feature that YouTube
30:50
implemented. They got rid of the dislikes.
30:53
You want to know why? Because a lot of political
30:56
figures by certain political figures or starting to get
31:01
ratioed, more dislikes than the likes, they complain to the
31:05
proper authorities and they Made the dislike feature disappear.
31:12
That's right. You can't tell how many
31:14
dislikes, a YouTube video has now and they implemented that
31:19
again because they didn't want certain political videos looking
31:24
back. Joe.
31:25
Biden is so sorry. Got a cough.
31:27
That is so weak, dude. I'm telling you.
31:30
Notice it Dolly you, bro, shit's getting crazy.
31:34
Anyways, our favorite Senator, the toxic.
31:38
Eric Bitcoin maximalist sent the senator Cynthia lummis, ciraolo
31:44
merrova. We've covered her, right?
31:46
She is this communist that essentially wants to nationalize
31:49
all the private Banks turned him into one big Bank.
31:52
The FED Bank President Biden's nominee to be the top banking
31:56
regulator on banks private Banks, government-controlled
32:00
Banks. Absolutely hilarious and it's
32:02
coming from a senator really, really cool.
32:05
Awesome. Awesome memes.
32:07
And for that and Us. It's all it's the holidays in
32:10
the spirit of Christmas. All I want for Christmas is
32:14
Bitcoin baby. Whoo!
32:17
It's my Bitcoin, Christmas sweater.
32:19
What about you, feel? That's all I want to.
32:23
I just want more sets than I had the day before.
32:26
All right, well anyways, epic memes, great on Cynthia lummis,
32:30
writes that was awesome and for that, I am giving it.
32:34
This is the Quinn solo. Wooden honey badger.
32:37
You No, it it deserves this. That's an that's an epic epic.
32:41
That's an epic epic Allah. It's an epic.
32:43
Epic epic epic score. I think you gave me one for my
32:47
birthday. I think I have it on my on my
32:49
little mini fridge. Just magnet up.
32:51
Really cool stuff. Anyways guys you know the drill?
32:54
WE Post Monday through Saturday no matter what no matter what
32:59
rain or shine. So for whatever reason, if you
33:01
can't find us on YouTube make sure to find us on Rumble.com
33:07
simply Bitcoin. And Bitcoin tv.com under simply
33:10
Bitcoin if we don't post will make sure to let you know but
33:14
there's a lot of censorship going on these days just to make
33:16
sure and of course join our telegram group.
33:19
It's linked down below. Link us some Bitcoin memes to
33:22
review because a Bitcoin mean review for the member of you.
33:25
But anyways Phil it's time for the Daily News.
33:28
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33:52
All right everybody okay, bear with me but we've been talking a
33:57
lot about the better. Flag Theory, right the
34:01
incentives of Bitcoin, right? The power that Bitcoin gives you
34:06
to not only vote. With your wallet but also vote
34:10
with your feet, right? Think about it before in the
34:13
past, if you wanted to get up and leave a country because of
34:18
the totalitarianism because of some recent mandate occurring
34:23
since, right? Whether you agree with them or
34:25
not, irrelevant or because there's a genocide or some
34:30
atrocity, a war happening in your country, like we saw with
34:33
Afghanistan, right? Guess what?
34:35
The banking system, the disappeared.
34:38
Overnight. There was Bank runs but now with
34:40
Bitcoin you could literally get up and go you can memorize 12
34:46
word drove word seed phrase and you could bring your entire net
34:50
worth with you in your mind, it's incredibly powerful.
34:54
So what is happening, right? Is that slowly you're going to
34:58
start to see government's compete for your business?
35:03
We're already seeing that in El Salvador with the Bitcoins City.
35:08
Percent income tax, right? Zero percent.
35:11
Payroll tax 0% property tax. Why?
35:14
Because Named Boo Kelly's, trying to incentivize bitcoiners
35:18
to move to El Salvador. So anyways, this check out this
35:21
really interesting article by block Works without me, giving
35:24
you all that context, this this article will be noise, but try
35:28
to connect the dots, right? You'll start to see a pattern
35:31
emerge. Anyways South Korean lawmakers
35:34
vote to pistone put postponed crypto tax.
35:37
I wonder why. Why South Korean lawmakers has
35:40
voted to postpone a steep crypto tax on digital assets until
35:44
2023? According to the new build up,
35:47
that was passed by lawmakers. The tax is now set to kick in on
35:51
January first 2023 opposition, lawmakers.
35:53
And members of the local digital assets industry had raised
35:56
questions on why the tax on crypto is structured differently
36:00
than for equities. The new proposed tax on equities
36:03
capital, gains would also come in and 20%, but would exclude
36:06
the first 40, Generated Smog and cited data from the Federation
36:12
of Industries surveyed. Which shows that 40% of Koreans
36:16
in their 20s and 30s have experience investing in crypto.
36:20
Now, here is the signal Both parties want to earn votes of
36:26
the young population who invest heavily in digital assets.
36:32
There's the signal you sent is they don't want people leaving,
36:36
they don't want their tax cattle, leaving and all of a
36:39
sudden Bitcoin gives the power of the individual to leave very
36:44
quickly very fast. Anyways moving on, so it was
36:49
actually jww weatherman. He's a controversial figure
36:53
which we've had on the show, you know, whatever you feel about
36:57
them, but he said something really interesting and I kind of
36:59
questioned him about. It said, IRS will exempt Bitcoin
37:03
from capital gains within five years.
37:06
I said, why is that what makes you say this?
37:08
I said, I would think they would raise taxes on bitcoin, not
37:11
lower them. And he said, because we are
37:14
buying Senators, faster than any other special interest, and
37:18
because they are going to want to encourage us to spend above
37:22
the People, the more we have attendance in a gray Market, the
37:25
more sales tax, its tracks that they don't get.
37:29
Now connect the dots, what happened in El Salvador?
37:32
What was the income tax in the Bitcoin City?
37:35
Now connect this with this article both parties want to
37:39
earn votes of the younger population who invest heavily in
37:43
digital assets, excuse me, right?
37:46
And what is the title of this article, South Korean, lawmakers
37:50
vote to postpone crypto tax. So you get it.
37:53
The world is changing, the world is Shifting and this is exactly
37:58
what the thesis of the sovereign individual lined out.
38:02
This is exactly what Milton Friedman said in the video that
38:06
we played for you guys yesterday, right?
38:09
The rise of Annie currency like Milton Friedman said or Bitcoin,
38:14
right? Is going to essentially less the
38:19
the the size of government because now The government is no
38:24
longer, the only Monopoly on the creation of money.
38:27
Now, the creation of money is democratized, and anyone that
38:32
has enough electricity to pay for an Asic could now make their
38:36
money. And not only that the friction
38:40
to send Bitcoin or carry Bitcoin with you, over long distances,
38:45
makes it essentially borderless. The system of control that they
38:50
had in the Legacy system is now Now becoming non-existent in the
38:55
Bitcoin World. We're already starting to see
38:58
glimmers of light and hope coming out of El Salvador.
39:02
You see that article from South Korea?
39:04
You see what JW is saying as the market cap of per Bitcoin
39:09
continues to rise, the more influence bitcoiners will have
39:14
in Congress or in the government in your country's right?
39:18
Really, really interesting stuff.
39:19
And if you think I'm bullshitting You, this is
39:23
already happening, right? And let me read this article
39:26
before I showed up Phil Bitcoin. Miners say they're helping to
39:31
fix the broken Texas, electric grid and Ted Cruz agrees.
39:36
Remember what I told you about politicians Bitcoin.
39:40
Remember what I told you, but if Bitcoins a large part of the
39:44
economy, what are the politicians going to do?
39:46
I already read you the stuff from Cynthia lummis, yesterday
39:50
she's fighting the FED on. Owing to get Bitcoin banks in
39:54
Wyoming. Ted Cruz is fighting for the
39:57
Texas electric grid. It looks like these politicians
40:00
are trying to fight for Bitcoin Ted Cruz.
40:03
Actually wanted to strike the crypto provision in the
40:07
infrastructure, Bill all together.
40:09
So it really looks like the thesis and The Sovereign
40:12
individuals playing out and that makes you wonder and it really
40:16
tells you this is exactly why the South Korean lawmakers
40:20
wanted to postpone the crypto. Why?
40:23
Because the big winners were just get up and leave.
40:26
But anyways, really cool stuff, the Texas power grid is
40:30
struggling with fluctuating Energy prices and sporadic
40:33
service, but the state's growing Bitcoin mining Community
40:36
believes, it could help fix it. What was it that you were saying
40:39
in the beginning? Phil, what was it?
40:41
That you were saying those incentives.
40:44
Those incentives time, preference better quality.
40:49
Let's search a cheaper energy. Look at that.
40:52
That. Okay.
40:53
Anyways Ted Cruz Senator Ted Cruz has a lot of discussion
40:57
around Bitcoin views Bitcoin as a consumer of energy said Crews
41:01
at an event in October. The perspective I'm suggesting
41:04
is very much the reverse, which is a way to strengthen our
41:08
energy infrastructure. Look at that.
41:11
I think in the beginning Phil are caught Powers, excuse me,
41:16
90% of the state, but to run smoothly.
41:19
It requires a perfect balance between supply and demand.
41:22
Having too much power and not enough buyers is just as bad as
41:26
everyone wanting to fire up their AC units on the same day,
41:29
in July the price per power. The price of power per hour is
41:34
all over the place routinely going - rolling blackouts at
41:38
moments of peak power consumption.
41:40
No longer come as a surprise. A lot of people lost faith in
41:44
the grid. All together after winter storm
41:46
earlier this year, resulted in a multi-system meltdown that was
41:50
within minutes of much more serious and potentially
41:52
Potentially complete blackout Bitcoin and chicoine enthusiasts
41:56
just Bitcoin because Ted Cruz just said Bitcoin, he didn't say
41:59
crypto anyways, Bitcoin enthusiasts believe the fix.
42:03
To this problem is actually to add additional electric
42:07
electricity consumers into the mix.
42:09
A buyer who will take as much power as they're given whatever
42:13
the time of day and are just as willing to power down with a few
42:17
seconds notice these flexible buyers are Bitcoin miners.
42:22
So, let me Explain how that works.
42:24
Okay, when you produce power, its first of all, it's not
42:29
efficient to send over long distance, long distances.
42:33
Number one, when you produce power, you can't store that
42:37
power, right? It's not efficient to store it,
42:40
right? So what happens?
42:43
Electricity companies, essentially need to guess how
42:46
much electricity production they're going to have during
42:49
that given day, if they over produce.
42:52
So, all of that over produced electricity goes to waste except
42:58
until Bitcoin. Because now there is a buyer of
43:01
Last Resort, which goes back to what I've been saying for
43:04
months. Now Bitcoin uses excess or
43:08
stranded energy that was already going to waste and by doing so
43:14
it provides a sense of stability for these electricity or energy
43:20
producers because they know For a fact that even if you know
43:26
just people are not using as much power today.
43:29
There was always going to be a buyer of Last Resort and that is
43:34
Bitcoin miners so it's not that Bitcoin mining waste energy it's
43:39
that it uses wasted energy before that energy was just
43:44
going Phil. It's interesting that you
43:48
mentioned the buyer of Last Resort, right?
43:50
Because when we talk about, you know, even, you know, even
43:54
purchasing Bitcoin right out on the open market.
43:56
We talked about how hard lers are the, you know, the
43:59
essentially, the buyers of Last Resort.
44:01
And it's funny that in mind in terms of the, you know, in terms
44:06
of the waste from Energy Systems, we are again, the
44:10
buyers of Last Resort, the parallel that I'm making is that
44:15
you'll notice that In the Fiat system, they don't have any
44:17
buyers of Last Resort, they just have lenders of Last Resort
44:21
because it's a debt based system, right?
44:23
It's all credit. So like, you know, it's just,
44:26
you know, crap in crap out. So it's, I just find it very
44:29
interesting again, we're seeing that philosophical difference,
44:32
right? We're in the traditional system.
44:34
We're seeing lenders of Last Resort to keep the lights on.
44:37
And in the Bitcoin system, we see buyers of Last Resort that,
44:41
you know, that help that help that help energy from going to
44:44
waste. Dude, and it's crazy how much
44:48
Bitcoin is doing, right? It's empowering the individual.
44:52
It's giving, it's taking power away from the state.
44:56
It gives the individual the right to choose where he wants
45:00
to move based on the favorable laws towards him.
45:05
And not only that, it's also helping the energy sector.
45:08
Dude, make a it's like fix the money, fix the world and we're
45:12
showing you the receipts guys, we're showing you the Seats were
45:16
pulling up the Articles. Anyways, welcome did.
45:19
Did the ESG people just all lose their jobs because of Bitcoin?
45:23
I think so say that they totally that, but don't say that, they
45:29
say that you're gonna cut that out.
45:31
No, I'm not going to cut that. I'm going to leave that in,
45:34
okay? I'm just trying to figure out is
45:35
this a YouTube thing or is that them?
45:45
It just it kind of gave me that, you know, like I just had a, you
45:48
know, like an epiphany, right? That look at that, you know,
45:53
this whole time, I thought that they were fighting against
45:56
Bitcoin for a different reason. And I just realized that, no,
46:00
no. The real reason why you're
46:02
fighting against Bitcoin is because your whole argument is
46:05
about to become irrelevant. Yep.
46:06
And and don't get me wrong, but like you there's a certain
46:10
amount of people out there where their whole entire existence is
46:14
the constant fight. So it doesn't matter what cause
46:17
they are causing for as long as they're doing it for something
46:21
and not you know unfortunately those people are just going to
46:24
move on to something else dude and know.
46:26
You're absolutely right, bro. They get paid to fight for
46:31
causes, you know, and they're not necessarily legitimate
46:34
causes right? You know, we're not going to
46:36
give our opinions on that. But, you know, their whole
46:39
purpose is to look for example, Steve hanky our favorite Steve
46:42
hanky-panky. Right.
46:44
This guy's tweeting about How inflation and money printing is
46:47
all bad in this, and this and that.
46:49
But he's completely D incentivised to understand
46:52
Bitcoin because if he understood Bitcoin, what purpose does he
46:56
have to serve? Now he's been teaching, kansian,
47:00
economics for his entire life. All of a sudden there's a
47:03
brand-new system and his reactions I think is the tell
47:07
right at that shit. That's the tell.
47:09
It's like well we covered yesterday about the World Bank
47:12
and the FED not accepting these new Bitcoin Banks.
47:15
And that's the tell that that tells you everything you need to
47:19
know. But anyways, Phil, I want to
47:21
kind of tie this last part into what you were talking about
47:25
earlier, right? And how essentially these shit
47:29
coins, they raise money right under the guise that it's for a
47:34
certain thing. But in reality what they're
47:36
doing is they're curtailing Securities laws and guess what?
47:41
The SEC, Gary Gensler on, I might add On the old SEC that
47:47
word for Trump, a Republican and the new SEC.
47:50
Chairman a Democrat that was appointed by Joe Biden.
47:54
They both agree on the things that we're talking about.
47:57
Anyways, this check out this article by the New York Times.
48:00
Gary Gensler and Jake at Clayton are aligned on.
48:05
At least one thing, many types of crypto tokens fall in the
48:09
agency's domain. I wonder why Regulators on the
48:12
left and right. Rarely agree on policy yet when
48:15
it comes. Comes to bitcoin and shit coins
48:17
to men who have led the Securities and Exchange
48:20
Commission are remarkably. Align, that Technologies are
48:23
offerings, may be new, but old rules still apply.
48:28
Who has been telling you this for many months.
48:31
We have anyways, Jake lanes and the Republican SEC chairman
48:36
under President. Donald Trump interviewed Gary
48:38
Gensler, the current SEC Chief in the Democratic, by the
48:41
administration on Wednesday, at the digital asset compliance and
48:44
Market entry. D sub Summit in New York.
48:47
When Clayton asked his successor whether the SEC intended to
48:51
regulate crypto mr. Guns or replied?
48:53
I don't think you mind. If I would quote, you back.
48:56
If I would quote, you back to you mr.
48:58
Gunther then expressed a view that former chairman has long
49:01
articulated one that block shouldn't Block Chain
49:04
businesses, strongly resist. That cryptocurrency tokens are
49:08
largely used to raise money for entrepreneurs and as such meet
49:14
the time-tested, Definitions of an investment contract and are
49:18
thus under the Securities laws. What did we just say well during
49:24
the daily fail? Anyways, their agreement on the
49:27
issues significant because it suggests that many if not most
49:31
crypto issuers are violating the law by failing to register with
49:35
the SEC and could be subject to enforcement actions.
49:40
And a pending case may resolve this question at the end of mr.
49:44
Clements Center. At the agency.
49:46
Last year, the SCC sued Ripple labs and its Founders.
49:50
Accusing them of raising over 1.3 billion through an
49:55
unregistered ongoing digital Securities.
49:57
Offering when selling their tokens, which are known as xrp.
50:03
Not every cryptocurrency is a security that much has been
50:07
established. The original crypto Bitcoin for
50:11
example, is considered a commodity in the Added States
50:16
because there is no single individual or entity mounting
50:21
the tokens who has been saying this for a long time.
50:26
Phil instead, a decentralized network of independently run
50:30
high-powered, computers compete for the opportunity to mine
50:34
Bitcoin and earn a portion for the work of algorithmically
50:38
solving math problems. Who else said this?
50:41
Phil who else said this? Anyways, the SEC argues however
50:45
that Because Ripple Labs sold xrp to raise money for its
50:50
payments products, and an exchange investors were owed
50:53
disclosures about the company's business and operations.
50:57
So they could make informed decisions about whether to buy
51:01
the token. Oh, that is pretty crazy that to
51:07
plebs on YouTube, were faster than the New York Times.
51:12
Anyways, moving on, it's not only xrp.
51:16
Let's check out this video by Hot Oil.
51:19
Never saw DeLand. This is Gary Gensler.
51:22
Let's check it out. You just described some crypto
51:25
as Securities. Which ones do you think of as
51:27
Securities? It's pretty clear in the Supreme
51:30
Court is actually spoken to about this many times.
51:34
If somebody is raising money selling a token, start The Ether
51:39
presale in a couple of weeks, so that user be sale will be an
51:43
opportunity for anyone to purchase ether or ether is the
51:46
internal currency inside of the etherium system, sort of like
51:49
the xrp and rebel and the buyer is anticipating process profits.
51:54
But we're hoping is that sort of similar to what happened with
51:56
Master gloin. If that's the way he says
51:58
something is something like 20% and then the value of ether goes
52:01
up by five. Then we basically have It's the
52:04
entire initial initial BBC that we got all over again.
52:07
They still have the efforts of that group is about 100 people
52:10
that are working on a theory of right now, myself while leading
52:13
the the protocol design. We also have branding teams.
52:17
We have marketing team that fits into something that's a
52:21
security. So, you know, it was filled the
52:24
shit coin Slayer yesterday, it's Nico the shit coin Slayer.
52:28
Today, looks like etherium is a fucking security and I think
52:33
we've been saying This for a long time and it looks like xrp
52:37
is a security. Why?
52:39
Because they knew they knew. When they initially sold the
52:44
initial Ripple, the initial etherium.
52:47
What was that shit coin? That you were just covered Phil?
52:50
I don't card.and and it can then, whatever the founders knew
52:54
from the get-go that that token was going to have value.
52:59
Heard it from vitalik mouth. Just now when Satoshi Nakamoto
53:03
Mind the first Bitcoin. He was mining it at a loss
53:07
because it was an experiment and he had no idea.
53:11
It was going to have value AKA The Virgin birth.
53:18
In fact Bitcoin didn't have value for like a year until the
53:22
free market assigned to give it value every single shit, coin
53:27
created. Since then the founders knew
53:31
That if they could sell it, people would buy it.
53:35
That is the difference, Phil. You just, you just got me
53:40
thinking as we're watching that video I realized etherium is
53:45
still not has still hasn't moved over to to proof of stake which
53:50
means there's still a proof-of-work coin.
53:52
So what rights do? Any of the token holders have on
53:59
the etherium network. I mean.
54:04
They can't they can't. It's not like shares because I'm
54:07
saying if it's a security, right?
54:11
if it's a security, then all of a sudden, they need to have
54:16
voting rights there. There needs to be a share
54:18
structure, like what happens there?
54:20
I dude, I don't know if I got to tell you, man.
54:23
This is this. And many other reasons is why.
54:27
Is why I dumped my bags and get the hell away from this, because
54:31
it became so confusing and it became so enraged geing.
54:34
And I know that these people want to believe that they're
54:36
going to make money 2.0. But money 2.0 isn't coming out
54:41
of a foundation. I'm sorry.
54:43
It's not coming out of the etherium foundation, what's
54:45
happening? What percentage is, dude?
54:47
They had, like, I think it was like a 60 or 70%, pre mind, we
54:50
know xrp, hold that the video, xrp owns the majority of the XR.
54:58
Whatever the Ripple whatever Tok I don't know what the fuck they
55:00
are but whatever tokens now. Okay guys to be fair okay, to be
55:06
fair, Ripple and etherium are extremely well-funded which
55:11
means they have very large War chests.
55:14
Ripple has already been sued by the SCC but listen as the
55:19
Bitcoin market cap goes up in value.
55:23
It brings the shit coins with them, right?
55:25
And when's it brings the shit coins with them.
55:28
They're very well funded as well, right?
55:31
So, does this mean that ethereum is going to be deemed a
55:34
security? I don't know, does it D?
55:36
Does it mean that ripples going to be deemed a security?
55:39
I don't know if they're going to win that.
55:40
That that lawsuit but by the traditional description they are
55:45
securities because the founders knew you just heard metallic say
55:48
it. Mmm.
55:50
That they were going to be able to dump their back.
55:53
Bags on other people and to quote, vitalik and get the same
55:57
amount of Bitcoin back right now.
55:59
Notice how he said Bitcoin. So, anyways, look, just wanted
56:04
to present that case to you. Let's see what happens, just
56:08
laying it out. And I want you guys to come to
56:10
your own conclusions, right? We're not trying to put ideas
56:14
into your head or just trying to show you receipts or trying to
56:19
show you what's going on and we'll let you guys be the judge.
56:23
Bill. I just don't understand how
56:24
they're going to reconcile becoming a Sit, because look,
56:28
that's what's gonna happen, right?
56:29
The SEC, look, the SEC has a head, they can cut Nico, so they
56:33
are going to cut that head, right?
56:35
Like they are going to force. They are going to force that
56:38
shit coin into the box. They want them to fit II, just I
56:43
don't know what that's going to mean for all the people holding
56:45
these bags and not only their centralized, right?
56:48
We know for a fact that the majority white, the majority of
56:52
ethereal Um nodes are run on AWS servers.
56:55
We did an episode on that we showed you the receipts so not
56:58
only are they you know, by the traditional legal sense.
57:03
Not that we're big fans of the government, whatever they're
57:05
sturdy, but they're there, the security.
57:08
But also right it's exactly what you said.
57:11
There's a metaphorical had to chop off because the majority of
57:14
the nodes are run on awws servers.
57:18
If you compare that to bitcoin, which is why the fork words were
57:22
so important. To keep the the resource
57:25
intensity, the lowest minimum. So as many people could run
57:29
nodes nodes are distributed around the world, not in server
57:35
Farms, because if they were in server Farms, guess what?
57:39
That's very easy for the government.
57:41
To just knock on the door and say, hey, what's going on here?
57:44
Do you remember what happened to that app?
57:46
Called parlor? I can, you are E6 disappeared
57:50
off the face of the Earth, the next day and that's Because the
57:53
majority of their servers were on AWS, like etherium.
57:58
So theoretically if Jeff Bezos hits his knee on his bed.
58:02
Stand one morning and says oh that was aetherium.
58:06
Aetherium would go. Anyways, fill it wasn't open
58:10
source software released today. Why don't you tell everybody
58:12
about it software releases? The software releases are
58:16
brought to you by Cipher safe, check them out.
58:19
Cipher safe dot IO it's definitely the best way to Tekt
58:23
your seed, check out the Cipher wheel store your seat in the
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Cipher wheel, it's fireproof, it's waterproof, its pet proof.
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The link is down below. All right, we've got lnd version
58:34
0.14 dot one. That is a lightning
58:39
implementation that is down below in the show notes guys.
58:43
Don't forget rain or shine. WE Post Sunday to Friday, is it
58:49
Sunday to Friday, Nico? Monday through Saturday Monday
58:51
through Saturday? I'm close enough.
58:52
Of rain or shine. WE Post Monday through Saturday
58:55
and audio, only, you can go check us out on anchor.
58:59
Check us out on Apple, podcasts and Spotify.
59:04
Awesome. Thank you, Phil.
59:05
All right, guys, that was our show.
59:07
We got some very interesting guest this week.
59:10
I'm pretty sure you guys are going to enjoy it.
59:11
But anyways guys if you enjoyed the show you know what to do.
59:14
It's Minister. And of course, if you want to
59:17
continue hearing the catastrophic fails from the shit
59:20
coin or central banks or is All the Above And the Bitcoin use
59:23
from the bleep let perspective definitely consider subscribing
59:27
and we'll see you tomorrow guys for brand-new episode of Simply
59:30
Bitcoin. We said the moat was getting
59:32
smaller a couple of days ago. We underestimated how quickly
59:35
it's getting smaller by Akasha.