Latest / Simply Bitcoin / Saylor SHUTS DOWN Anchors On National TV On Bitcoin | EP 1051

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Saylor SHUTS DOWN Anchors On National TV On Bitcoin | EP 1051 · Simply Bitcoin

0:02
It's all going to zero against Bitcoin.
0:06
It's going up forever. You're against Bitcoin.
0:16
You're against freedom. From this political football
0:25
this election cycle, I'm curious, are you advising either
0:28
candidate or either campaign on crypto policy?
0:33
I'm advising everybody in the world that Bitcoin is digital
0:36
capital. There's a revolution in the
0:38
global capital markets and traditional finance operates,
0:42
you know, 19% of the time for 10% of the world.
0:45
That makes it a 2% solution, Bitcoins 100% solution it's.
0:51
Just a good idea. Let me just be a little bit more
0:53
direct with have you spoken with either Vice President Kamala
0:56
Harris or former President Trump specifically?
0:59
I I speak with both Democrats and Republicans.
1:02
Have you spoken to either of them in the past, say, month?
1:05
Yeah, I'm, I don't share my conversations that I have in
1:09
private and confidence with anyone in the world.
1:11
OK, fair enough. Let's say that you were on a
1:14
hypothetical phone call with either of them.
1:16
What would you be telling them that your dream is for crypto
1:19
policy moving forward? The future is digital, right?
1:24
There's a race to own cyberspace.
1:27
That being the case, empires are built on productive property,
1:31
and they're defended by firepower, naval power, air
1:34
power, nuclear power, and digital power.
1:37
Bitcoins, digital power. You want Bitcoin, You want to
1:40
own cyberspace. You want the most digital power,
1:44
just like you want nuclear power, air power, and space
1:47
power. It's a good investment.
1:49
It's like buying Alaska or like the Louisiana Purchase, and it's
1:52
also essential to national security.
1:55
Which candidate is better for crypto?
1:59
I think that again, crypto is. Good morning, everybody.
2:04
Welcome to Simply Bitcoin. I am Optimus Fields and we got a
2:08
great show for you guys today. As you can tell, Michael Saylor
2:12
made an appearance on Yahoo Finance.
2:14
He was kind of getting grilled, but he did a very good job.
2:18
I would say maybe a good political job of ignoring the
2:21
questions. And I am going to finish this
2:22
clip for you guys because there is the second part of the clip
2:25
we're going to cover in the numbers where Saylor of course,
2:28
in the gig Giga Chad way that he's able to do it.
2:32
Just explain means what everyone is asking right now.
2:34
There's a lot of new people coming into the space.
2:36
We are obviously getting into the political discussion where
2:40
we're breaking the echo chamber and getting into the mainstream
2:42
consciousness and everyone always asks the same thing.
2:45
Oh you know, bitcoins too volatile.
2:48
Why do we even need Bitcoin? So I want to play that Sailor
2:51
clip the the rest of the sailor clip on today's show so we can
2:54
continue to get more people to understand exactly what is going
2:58
on in the Bitcoin space and how US bitcoiners don't care about
3:01
volatility. Volatility means means that
3:03
you're alive. Volatility means that there's an
3:05
opportunity here. And once you're a bitcoiner, the
3:08
the price fluctuations literally mean nothing.
3:10
It just means that you get Bitcoin on a discount.
3:14
And if you like Bitcoin AT70K, who doesn't love it at 50K?
3:17
It's just cheaper sets for all of us here.
3:19
And there is some funny stuff in there where Sailor basically
3:22
says the same stuff that all of us bull tarted Bitcoiners have
3:25
been saying for a long time that we love buying the Bitcoin tops.
3:28
It's it's a rite of passage here.
3:30
So Sailor just just doing what? But he does best when he gets on
3:34
the legacy media and just kills. It just absolutely destroys the
3:38
echo chamber and spreads the message to the people that still
3:42
watch the corporate press, which is basically our parents or at
3:46
least my parents and the boomer class out there.
3:49
The older generation. Again, I always reference the
3:52
recent polls going out there recent report that most people
3:55
that are watching corporate television or at least the news
3:59
channel are in their 60 plus years.
4:01
And so most, most of us young people are getting our news from
4:06
Twitter or social media. You know, we get our news and
4:08
memes, but there's still people that watch corporate press, that
4:12
watch national television and they also need to get that
4:16
signal. And now they're getting it in
4:18
ways that make sense to them. And that's why I want to finish
4:20
that clip out today because today's show is going to be very
4:24
Sailor heavy because Sailor is basically on the vanguard.
4:28
He's the one showing the corporate world what they should
4:31
be doing and how to do it and absolutely just gobbling up all
4:35
the sets. I got all the numbers of all of
4:38
Sailor's convertible notes in the billions of dollars he's got
4:40
in Bitcoin and everyone that's followed after.
4:43
So in the news, I'm not only just going to cover Sailor's
4:45
micro strategy, strategy in his own words, we got a clip of him
4:49
talking about it, but also all the recent developments in the
4:52
new companies that are following him.
4:54
And this morning, the breaking news of this morning was that
4:57
Marathon Digital or Marathon Holding is going to follow the
5:01
same playbook as MicroStrategy. So now we see a public minor is
5:06
going to follow the MicroStrategy strategy and try
5:10
to get as much Bitcoin as possible.
5:12
So you're seeing that the corporate Bitcoin play that
5:15
Sailor has unleashed into the world is starting to catch on.
5:19
And also all of the news that we've been covering recently
5:22
about, you know, as much as we, we don't like the banks out
5:26
there, all the banks are now unleashing their financial
5:30
advisors on Bitcoin. We got some new news coming out
5:33
that I think kind of slept under the radar on our show that even
5:37
Wells Fargo's now going into the ETF game.
5:39
So as much as us Bitcoiners believe that ETF is paper
5:43
Bitcoin, that you need to be buying Bitcoin directly, do not
5:47
get do not get stuck holding the bag on a paper ETF when they rug
5:51
pull you, you need to be buying spot Bitcoin.
5:54
But you're seeing that the signal is spreading and more
5:57
people are going to wake up and it's slowly happening in real
6:00
time. And so we covered that on the
6:02
show constantly. Anyways, enough of the preface.
6:06
I do want to bring on my Co host.
6:08
Of course, you guys know him, Chris Alemo, one of our good
6:11
friends and one of the simply Bitcoin pinch hitters coming on
6:15
the show today. So Chris, Chris really makes me
6:18
look good on the show every time we we do this together.
6:20
So it's good to have you. Chris, how you doing this
6:22
morning? Doing well OP, the always
6:24
pleasure to be back here. Let's go let's go and also we
6:27
got special guests. You guys love them when they
6:29
came on the show. I think it was about a month
6:31
ago, we got Knut Vonholm and Luke the wolf from the the
6:36
previously. What was it what's the man I'm
6:39
blanking on it. The freedom footprint show
6:42
rebranded to the Bitcoin Infinity show.
6:44
So we got some fellow content creators on the show and, and
6:47
just I would say some of the best thinkers in Bitcoin.
6:50
I really love your perspectives on Bitcoin and this whole
6:53
movement that we're seeing play out in real time.
6:56
So I'll start with Luke. Luke, how you doing this
6:58
morning? How's everything going?
6:59
I'm fantastic, Opti, Thanks for having us.
7:02
And yeah, super excited. We're super busy over here.
7:06
Lots of exciting things going on.
7:07
Got our book coming out soon. So excited to talk about that.
7:10
Yes, Sir, we're definitely going to talk about that today.
7:12
All right, Camille, how you doing?
7:15
Fantastic. I mean, I can just echo what
7:18
Luke said. We're we're having a lot on our
7:20
plates, but we we enjoy every second of it and we're happy
7:25
with a new book and we. Hope.
7:26
Let's go Yeah, plug it real quick, give up people a sneak
7:30
peek and then we'll really break it down in the culture.
7:33
We made a book together that we've been writing for about
7:36
half a year and it's called Bitcoin, the Inverse of Clown
7:40
World. I don't know if you can see that
7:42
here. And it's about how you change
7:44
the world by changing yourself first and foremost.
7:47
It starts with this tacky Michael Jackson quote.
7:49
If you want to make the world a better place, take a look at
7:52
yourself and then make a change. And it's.
7:57
Yeah, our views on on Bitcoin and the future and what you can
8:01
do to participate and actually be be the change that you want
8:05
to see in the world. That's that's the teal they are
8:07
on the book I guess. Love it, love it.
8:09
Hey, any chance we can get, you know, sneak in a Michael Jackson
8:13
quote on the show? I am OK with that.
8:15
So love it love it. All right guys, so we got a we
8:18
got a big show planned for you guys jam packed.
8:20
But before we do that, of course, I do have to keep the
8:23
lights on here and of course we're talking about Bitcoin.
8:26
Well, the best place to stack that's make sure you are setting
8:30
up your automatic self custody by default platform on Bitcoin.
8:35
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8:38
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8:45
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8:47
have the possibility of getting rug pulled and that is
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8:57
get your Lightning wallet. It's out when you get into
9:00
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9:01
and you can hit the my rewards here, redeem and then you can
9:06
redeem some stats. You can win up to 1,000,000 SAT.
9:09
So if you guys win the million stats today, I'm going to be
9:11
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9:15
Scan the QR code, pull out your Lightning wallet.
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There we go, stats for you guys. First come, first serve, and
9:20
let's get on to the show. Bitcoin numbers that came in
9:29
quick. All right, guys, you already
9:31
know the deal. Make sure you are not leaving
9:34
your seed phrase on a piece of paper in your sock drawer.
9:37
Make sure your grandchildren don't ask you Grandpa Paul, why
9:41
are we broke? Why don't we have generational
9:43
wealth? Well, you know my grandchildren.
9:46
It's because my dog ate my seed phrase.
9:48
No, get it on titanium. Make sure you are blasting your
9:54
seed, stamping your seed into titanium and protecting
9:57
affecting your generational wealth for the long haul.
10:01
All right guys, let's get into the numbers for today.
10:05
You already know the deal. I did kind of, you know,
10:07
eliminate some of the numbers because I, I don't think most
10:10
people care about most of the numbers in the Bitcoin time
10:12
chain. They probably just care about
10:13
the price and and the block height as far as I'm concerned.
10:16
So the Bitcoin price today, allegedly in the moment right
10:19
now it's 59,800 and $10,000 per Bitcoin, which means the set per
10:24
dollar, AKA how much your dollar is worth in Bitcoin, AKA how
10:27
much Bitcoin you can buy for a single dollar.
10:29
It's currently at 1672 SAT's per dollar.
10:33
The block height, which might be one of the most important
10:36
numbers in Bitcoin. TikTok next block.
10:38
It's almost like Bitcoin is working exactly as designed.
10:41
We are at block height of 856,484 and the market cap of
10:46
the Bitcoin market in Fiat terms is $1.18 trillion.
10:50
We're we're a little under silver right now.
10:52
We got to pump those numbers up. We got to pump those numbers up.
10:55
And then the Bitcoin versus gold market cap, it actually raised a
10:57
little bit this morning. So I'm guessing the price was
11:00
lower. I didn't check the price this
11:01
morning, but we're currently at 7.04% of the total gold market
11:06
cap. So still a lot of room to run in
11:09
the hard money game. All right, guys.
11:11
So as I was saying in the beginning of the show, Michael
11:14
Saylor went on Yahoo finance, absolutely did an incredible
11:19
interview here and you play I played you the first part.
11:21
So I'm literally starting from where you saw in the beginning
11:24
of the show to where we are now. But I wanted to continue this
11:28
video in the numbers because sailor in the the fashion of
11:32
sailor is just able to explain what is going on in the Bitcoin
11:36
space, why financial advisors are just ill advised here.
11:40
And, and basically he just, he can't believe why people, people
11:44
look at Bitcoin and like, Oh, no, it's so it's too volatile.
11:47
I don't want, I don't want that volatility.
11:49
Like, you know, Bitcoin's the best performing, performing
11:52
asset ever for the last 15 years based or at least 10 years.
11:57
And yet people are still on the sidelines like, no, it's too
11:59
volatile for me. I don't want none of that.
12:01
It's I'm really reminded right now of what's the, the, the
12:05
Dewey, what's that movie anyways?
12:08
Like you don't want none of this, do we?
12:09
You don't want none of this, you know, best performing asset in
12:12
the world, AKA Bitcoin. So let's play this out.
12:15
I think. Let me see.
12:17
I do have it at 1.25, but it's not too fast for you guys.
12:20
Listen to this. It explains exactly what's going
12:22
on in only the way that Michael Saylor can.
12:25
I'm not gonna comment on anything political at this
12:28
point. I'm gonna say it's just a good
12:29
idea to support digital assets and digital capital for any
12:33
nation state, any political party, any politician.
12:35
It will be a factor in November in the elections.
12:37
I have no doubt I. Won't try to get you to comment,
12:40
I think specifically political, Michael, but I am to get your
12:43
take on this, which is that it does seem like at this moment
12:46
that it's that crypto is breaking hard along ideological
12:49
lines. You know, I mean, Trump,
12:50
certainly you see him speaking at the Bitcoin conference, you
12:53
know, talks about making Bitcoin great again.
12:55
You know, is that good for crypto or long term, do you
12:57
think, You know, do you really need friends on both sides of
13:00
the political aisle? I think Bitcoin is digital
13:03
capital, right? The the world's going to be
13:06
remade. There's a digital transformation
13:08
in finance taking place. Everybody on Wall Street
13:10
understands it. Everybody on Capitol Hill
13:13
understands it. Everybody on Main Street
13:14
understands it. It's like electricity or fire or
13:17
the Internet. I can't imagine that a nation
13:20
state, a company, a government, or any particular family even is
13:24
going to be successful without embracing technology.
13:26
I got an investor psychology question for you, Michael, too.
13:28
It just interests me. I'm curious how you kind of
13:31
stay, you know, calm and cool and collected and committed to
13:35
Bitcoin even when you have these sell offs because that that's
13:37
tough for some people, Michael. You know, they, they see their
13:39
investment get banged up and then often times the first
13:41
instinct is, you know, you get nervous, you want to slam the
13:44
sell button. How do you kind of how do you
13:45
navigate that? How do you actually keep your
13:47
emotions in check? Well, first of all, bitcoins
13:50
been appreciating at 55% a year for the past four years.
13:53
Bonds are depreciating 5% a year.
13:56
The S&P is appreciating at about 13% a year.
13:59
It's amazing to me that people would would rather have a 20%
14:02
ARR with 20 Vol than 55 ARR with 55 Vol.
14:07
But yeah, if you're, if you think about it, it's pretty
14:09
obvious you want the 50% return, not the 20% return.
14:13
So if you're going to embrace the future, embrace digital
14:15
transformation. It's going to be more volatile,
14:17
it's going to be higher performance, but but that's the
14:19
future. So I don't get upset because I
14:21
know we're winning and Bitcoin's winning.
14:23
It's pretty obvious to anyone that you know can chart the
14:25
thing that there's a right answer and there's a wrong
14:28
answer. Michael, safe to assume you
14:29
bought the dip this week. We're buying all the time.
14:33
We're buying every quarter. We're buying the lows, the mids,
14:36
the highs. You know, I'll be buying the top
14:38
forever because I'm expecting Bitcoin will continue to
14:42
appreciate as digital capital. I think, I think physical
14:45
capital, real estate capital, financial capital, people are
14:48
going to sell those things and they're going to move their
14:50
money into digital capital. And it's going to be a trend for
14:52
a long, long time to come. Absolutely love it.
14:55
As Sailor said, and we said we've literally said this on the
14:58
show all the time kind of trolling like we will buy the
15:01
top forever because it's only it's only a generational time
15:05
stamp of where the Bitcoin price is.
15:07
One of my friends always said that Winekus, he's been on the
15:10
show a bunch of times. He helps us on the back end.
15:12
We've been saying that for a long time, kind of like low key
15:15
trolling that like we will buy the tops forever because hey,
15:18
Bitcoin dies what 200 times in in its lifetime and yet it
15:22
always comes back from the grave.
15:24
So I find it not only hilarious, but just further of the Bitcoin
15:29
memes in the world that Saylor is finally saying the same stuff
15:33
that us bullet hearted bitcoiners say on Twitter.
15:35
He's like, I will buy the top forever.
15:37
And I really loved how he's able to frame the volatility question
15:41
because I I have the same thinking.
15:43
Like I, I'm super frustrated at times with people.
15:46
They're like, oh, I love Bitcoin, but it's too volatile
15:48
for me. And it's like, yeah, it's
15:49
volatile to the upside. And as Saylor was saying, it's
15:52
like, OK, you know, you can invest in something that'll get
15:55
you 20% gains, or you invest in something that year over year
15:59
will get you 55% gains. It's a no brainer to us
16:02
Bitcoiners. Like it's a no brainer to
16:04
someone that sees where the world is going.
16:06
And then they're like, yeah, actually it's too risky for me.
16:10
I don't like those games. I don't like 50% returns on my
16:13
money. And it's like, are you seeing
16:15
the same field that I am? Because it's a no brainer as a
16:18
Bitcoiner that yes, Bitcoin is the best performing horse in the
16:21
race. It's the best performing asset
16:23
in the last 10 years and you might want to get some just in
16:26
case it catches on. And I'm now you're seeing that
16:29
the signal is catching on and more people are waking up to
16:32
this very simple idea that every single person, every single
16:36
nation state, every single corporation will need to have a
16:39
Bitcoin strategy. And people are finally seeing
16:43
sailors micro strategy strategy for the success that it is.
16:47
And you just love to see it. Guys.
16:48
We've been on the front lines of this for a long time.
16:51
So I'm gonna pass it over to Chris because he makes my ad IQ
16:54
take sound a lot better. So Chris, what was your thoughts
16:57
hearing Sailor just completely destroy the Yahoo Finance FUD
17:02
and just their their their pure confusion of what's going on in
17:07
the Bitcoin space. We are still early.
17:09
Yeah, I think I want to go back to one of our tweets, our boy
17:12
Ropium on Twitter. So Optini's good friend, he had
17:15
a tweet recently say Wall Street dudes lose 30% of their net
17:18
worth in a day. Literally jump off the 4th
17:20
floor, 40th floor of their building.
17:22
Crypto dudes lose 30% of their net worth in a day, update
17:25
profile picture to have McDonald's hat and shit post in
17:28
the group chat and say we're buying more.
17:30
So I think there's a dichotomy, you know, Sailor kind of hit the
17:32
nail on the head that like, you know, oh, some people would
17:35
rather have an asset that goes up 20% a year, but very
17:38
consistently versus Bitcoin is up 50% or more in a year and
17:42
it's way more volatile. So I I think the winning trades
17:44
obviously Bitcoin. Yeah, and I mean, just very
17:47
simple, you know, investing heuristics, which I think could
17:51
be life heuristics, like you have to risk it for the biscuit.
17:54
And This is why all of us Bitcoiners, you know, I think
17:58
have a very high risk tolerance. It's like we see where it's
18:01
going. There is no road map for where
18:03
we're going with Bitcoin, but we see the future and we're like,
18:06
hey, man, this is the best bet. And especially all the things
18:09
we've been covering about the traditional financial world,
18:12
it's like the the non risky investments now are the most
18:17
risky investments once you view it through a Bitcoin lens.
18:20
And we're looking at them like, what are you guys even doing?
18:24
And they're looking at us like you idiot millennial zoomers out
18:27
here. You guys don't know what you're
18:28
doing. Like the adults are here in the
18:30
room and we're like, guys, you guys are sniffing your own
18:33
farts. You guys are lost in the sauce.
18:34
Anyways, Luke, I saw you shaking your head.
18:36
What's your thoughts on this? No, it's hilarious.
18:39
And I mean, the, the generational thing is, is a is a
18:41
funny one. I I feel old sort of being the
18:44
millennial in the room. And we've got some of the, the
18:46
Generation Z, the the zoomers coming in and showing us how
18:49
it's done, like really adopting Bitcoin early.
18:51
But yeah, I mean, the, my take on this is that the stock market
18:54
and things like that have just never made any sense to me
18:56
because everyone talks about that you, you sell, right?
19:00
Your, your investment goes down. Well, it doesn't matter if you
19:02
if you don't sell it, you don't need to do anything with it.
19:04
And I mean, just taking it into into Bitcoin, Bitcoin is the
19:07
only asset like like Michael Saylor says that makes any sense
19:11
at all. It's the only thing that I would
19:14
buy and hold to store my value. The stock market is, is this
19:18
pseudo store of value thing that's just come out of nowhere
19:20
because Fiat is, it has invaded everything in the entire world
19:24
since the creation of these of, of wealth Fiat currency, but
19:28
these stock markets as well. And you know, Bitcoin is, is the
19:31
thing that you just buy and hold and wait.
19:33
And I mean, I, I have some sympathy for people who who need
19:36
to sell their Bitcoin because literally they don't have
19:38
anything else. They're on zero.
19:40
But if you're not 100% on Bitcoin, you're technically
19:42
short Bitcoin a little bit. So I mean it, you have to be,
19:46
you have to be cognizant when you're, when you're actually
19:48
trading your Bitcoin for other things.
19:50
And that just takes us into time preference.
19:52
It all becomes about about time preference.
19:53
How long do you want to wait before you sell your Bitcoin and
19:56
what can you learn to do without in the meantime?
20:00
So I I love Sailor's take and Bitcoin has just been one of
20:03
these things that for me personally has just changed me
20:06
all, all the ways and turned me into a much more low time
20:08
preference individual. And hopefully that's how how we
20:11
can change the world by everyone adopting Bitcoin. 100% this is
20:16
This is why I love bringing you guys on.
20:17
All right, well, Canoe, you do have, you know, a little more
20:21
greyish beard than us. So for the wise guy in the room,
20:25
are US millennials and younger generations seeing things
20:29
correctly? Or rather, on the flip side,
20:32
what are the older generations missing?
20:35
And coming from someone that has a little more experience than
20:38
me, what's your thoughts on this canoe?
20:40
I mean, Sailor is very eloquent and very good at talking to
20:44
talking heads, but you know, those mainstream media people
20:48
are still talking heads and they're missing the big point
20:51
here. And that is that Bitcoin was the
20:52
discovery of resistance to replicability on the Internet.
20:56
So it's the only thing on a computer that cannot be copied
21:00
because it's not in on the computer.
21:01
All the, the protocol is on, on computers.
21:04
The, the, the software is on computers.
21:07
The blockchain is on computers, but the sats live within us.
21:11
So it's not only the best bet, it is the only bet and it's a
21:16
binary bet. Either it takes over the world
21:20
or for some reason it doesn't and then it goes to 0.
21:24
But for 15 years almost it has been working like 99.99999%.
21:32
Florida State. So so this a bet on Bitcoin is a
21:37
bet on humanity and a bet on yourself because you are your
21:40
Satoshi's. This is this is so much deeper
21:43
than than whatever these people who are talking about number go
21:48
here or there or ETF do this and that at the end of the day,
21:52
they're they are a part of you. And if you don't bet on this,
21:57
you're you're you're losing yourself, like literally.
22:02
Love it. A bet on Bitcoin is a bet on
22:05
yourself. A bet on Bitcoin is a bet on
22:08
humanity. I couldn't have said it better.
22:10
This is why I love when you guys come on the show.
22:13
All right guys, let's let's get into the news so we can cover
22:15
the rest of today's topics, the Daily News.
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23:36
All right, let's get into today's story.
23:38
So as I was telling you in the beginning of the show, we are
23:41
going to cover what Sailor is doing with the micro strategy
23:44
strategy and then cover some other companies that are
23:47
following his strategy. Man, too many strategies in in a
23:51
short, short time span. But the the big news is for
23:55
today, Marathon holdings is following a public Bitcoin miner
24:00
is following the micro strategy strategy, which may come with
24:03
some concerns, but it's obviously for the same game plan
24:06
that we all think about constantly is how do I get more
24:09
sats? How do I get more sats under my
24:10
control, which everyone that understands Bitcoin understands
24:14
the game. It is hungry Hippo, it is
24:16
Pac-Man with Bitcoin. You need to acquire as many
24:19
Bitcoin as possible, accumulate as much as possible, sell your
24:22
chairs right now and make sure you are stacking stats at these
24:25
cheap prices. All right, as I was saying, I'm
24:28
going to just let Michael Saylor explain what his strategy is and
24:31
kind of, you know, mirror what we were saying in the numbers
24:34
about how people just don't understand what the play
24:38
actually is. And me and Chris were actually
24:40
talking about this getting some of the micro strategy numbers of
24:44
all the convertible notes that he that he's acquired that it
24:47
just like it makes no sense to them.
24:49
And we're over here just cheering them all like, yes,
24:50
this is the best move ever. So let's hear Saylor explain
24:53
this, and then we'll cover some of the actual numbers here.
24:56
Like the conventional wisdom is when you sell stock you dilute
24:59
the shareholders, but in our case, the more stock we issue or
25:03
the more money we raise, the the more we accrete.
25:06
And so hundreds of thousands of companies have assets on their
25:11
balance sheet which are diluted and Bitcoin is the 1st major
25:16
asset which is accretive. So we turn the entire treasury
25:20
strategy upside down by actually accreting assets.
25:25
Today, we have $15 billion of a Bitcoin on the balance sheet and
25:31
the operating company generates $75 million a year in cash flow
25:36
and the operating revenues are 500 million.
25:38
So we made the balance sheet the primary part of the company
25:42
instead of the PNL. Everybody else wants the balance
25:45
sheet to go to 0 or negative and they want the PNL to be the
25:48
primary part of the company. Wow, well, you can see that we
25:52
couldn't have picked better guests on today's show than the
25:55
guys writing the book of inverse Clown World when sailors
25:58
literally saying the same thing. He's like, I inverted their
26:02
whole financial models, the whole point of view of what to
26:05
do with your company by adding Bitcoin on our balance sheet.
26:09
And again, I was telling you these numbers.
26:10
So me and Chris went over this this morning and Chris, maybe
26:13
you can do some quick maths here on the total holdings of Micro
26:16
strategy, but all of Micro Strategy's redeem convertible
26:19
notes, I got them laid out for you here.
26:21
So December 11th, 2020 they got 650 million, February 19th, 2020
26:26
one 1.05 billion, March 11th, 2024800 million, March 19th,
26:33
2020 four 603.75 million and June 20th, 2020 four, 800
26:39
million, which what is this? A little shy of $3 billion.
26:43
In convertible shy of four billion.
26:45
A little math is hard. Math is not my my best strategy,
26:49
but yeah, a little shy. I have $4 billion of Bitcoin on
26:53
their balance sheet. Just absolutely incredible.
26:55
When me and Chris did this numbers this morning, we were
26:56
sitting here like every time we got a new number like absolute
26:59
Chad, like imagine buying a billion dollars of Bitcoin just
27:02
like just keep keep chipping away at, at having more Bitcoin.
27:06
And really while I was looking for some of these videos, I, I
27:09
was reminded of Sailor, even himself being like, I don't own
27:13
enough Bitcoin and he's buying billions of dollars of Bitcoin.
27:15
So you can start to see that the the Bitcoin a fever if if I
27:20
could say that where you just you need to acquire as many
27:23
Bitcoin as possible just really takes hold and just doubling
27:26
down on sailor strategy. You know that he posted this
27:29
yesterday. Four years ago today,
27:31
MicroStrategy adopted Bitcoin. That's its primary treasury
27:33
reserve asset. Since then, Masters outperformed
27:36
499 of 500 stocks in the S&P 500.
27:41
And this chart right here has been making it making the round
27:43
on corporate press on all of Twitter.
27:46
And you can just see by literally adding Bitcoin to
27:50
their asset balance sheet, MicroStrategy is outperforming
27:53
everyone basically and more people are catching note to
27:57
this. Of course we saw this and we
28:00
covered this in the past. You know, Metaplanet, Chinese,
28:02
Japanese public company bought Bitcoin.
28:05
Their first one was 6.5 million. And then I did the numbers over
28:08
here. They are obviously not playing
28:10
the same field as Micro Sailor, MicroStrategy as a Michael
28:14
Saylor, but they have also done the convertible note strategy.
28:18
They have have roughly around $10.6 million right now going
28:22
into Bitcoin. They did just acquire a billion
28:26
dollar yen loan to buy more Bitcoin, which is, you know, 6.8
28:29
million. So obviously they're not on the
28:32
Michael Saylor's, you know, scale, but the signal is
28:36
catching on and more people are waking up to that very idea of
28:39
you just add Bitcoin to your balance sheet.
28:41
You're, you're, you're going to increase the power and the price
28:47
of your company and make sure that you stay competitive.
28:51
And on that note, this morning as we were covering Marathon
28:54
Holdings, Marathon announced his proposed private offering of
28:56
$200 million of convertible senior notes.
28:59
So going into the press release a little bit, they announced
29:02
they're, you know, they're going to do the the micro strategy
29:04
strategy and just going in here a little bit.
29:06
Where's it at? Global leader in leveraging
29:09
digital asset compute to support the energy transformation.
29:12
Marathon announced that it intends to offer, subject to
29:14
market conditions and other factors, 200 million aggregate
29:18
principal amount of convertible senior notes due 2031 in a
29:22
private offering to persons reasonably believe to be
29:25
qualified institutional buyers. So obviously this isn't open for
29:27
you and I here, but it just goes to show that that strategy is
29:32
catching on and more people are waking up to this idea that,
29:35
wait, I might have an infinite money glitch.
29:37
I can just, you know, take out debt on my company and buy more
29:42
Bitcoin with it. Like that sounds absolutely
29:44
incredible to me. I wish we could do that here at
29:46
Simply Bitcoin. That'd be great.
29:48
And not only that, adding that to the fact that we've seen the
29:51
army of institutional advisors we covered this last week, you
29:55
know, Morgan Stanley telling its wealth advisors they can pitch
29:57
Bitcoin ETFs. Like we are seeing that the
30:00
quote UN quote smart money, which we can kind of argue that
30:03
they aren't as smart as they think they are because if we got
30:06
in Bitcoin before them, how smart are they?
30:08
Of course, we can caveat that with this idea that you Wall
30:11
Street, it moves a little slower.
30:13
There's a lot of more obstacles than hula hoops to go through
30:16
before they're able to just go full bull tarted in the Bitcoin.
30:20
But I think by the end of the year, it is going to be an
30:23
incredible, incredible amount of inflows into the Bitcoin ETS and
30:27
of course, the Bitcoin space general.
30:29
And then touching on that a little bit, a new story that
30:32
kind of went under the radar a little while ago was that now
30:35
Wells Fargo is also offering spot Bitcoin ETFs to their
30:38
clients. I'm sure it's only going to be
30:40
the high net worth individuals. What was the the Morgan Stanley
30:45
one That's like only people with high risk thresholds would be
30:49
allowed to go into it. But this just further proves
30:52
that the biggest institutions in the world are looking into
30:56
Bitcoin. They want some Bitcoin exposure.
30:59
And as much as us Bitcoiners are like, you know, I'm all about
31:03
the little man getting into Bitcoin and bitcoins, the real
31:06
Occupy Wall Street, like I don't want politicians talking about
31:09
Bitcoin. It just goes to show that the
31:12
signal is spreading. More people are waking up to
31:14
Bitcoin. And I think by Q4 of this year,
31:17
there's going to be an incredible, incredible price
31:20
movement and inflows and attention into Bitcoin once we
31:22
kind of get out of this crab market, which we've been in, you
31:25
know, we're all feeling and the pain here.
31:27
But it's, it's get, it's, it's getting out there, guys.
31:30
People are waking up to this Bitcoin thing.
31:32
You know, we're out here just playing with our Bitcoins like
31:34
Trump was saying. And now we have the biggest
31:36
asset managers in the world also wanting to play with their
31:39
Bitcoins. It's oh man, it's just so, it's
31:41
feels so good being a bitcoiner. Absolutely incredible.
31:44
But Chris, you do want to chime in here.
31:46
You wanted to add a little bit on this before I pass it around
31:48
to the round table. Yeah.
31:50
So one quick thing. So Opti and I were only saying
31:52
the convertible debt notes, so they're just shy of $4 billion,
31:55
but that also doesn't account for the price appreciation that
31:58
they've had on their balance sheet at this time.
32:00
So it's much, much higher. I mean, last time I checked, is
32:02
it around like $15 billion worth of Bitcoin on their balance
32:05
sheet just appreciating in Fiat terms?
32:07
And then that also doesn't account for the quarterly buys
32:10
that Michael Saylor was talking about, taking cash flow from his
32:12
business and just sweeping it directly into Bitcoin, not
32:15
offering debt or you know, other type of instruments in order to
32:19
acquire more Bitcoin. So he has much, much more, more
32:21
than just the four billion that we're talking about of
32:23
convertible debt notes. Yeah, exactly.
32:26
That's just him. That's just the four billion of
32:29
infinite money glitch moves right there.
32:31
It's just just absolutely nuts. Absolutely nuts.
32:34
But let me pass it over to Knute first.
32:37
Knute, what's your thoughts on Marathon doing the micro
32:39
strategy strategy? Or rather, maybe the micro
32:42
strategy strategy catching on and potentially seeing an insane
32:47
FOMO at the end of this year. Yeah, I like that Marathon has a
32:52
lot of Bitcoin because that might prevent them from mining
32:55
on blocks with these transactions in them in the
32:58
future and stop doing the spam bullshit that makes it harder
33:03
for people to run their own nodes in the long run.
33:05
So. So that's positive I guess on my
33:09
on Michael and micro strategy strategy.
33:13
This is this is what the man who be later became the richest man
33:18
in Germany did during the hyperinflation era of the Weimar
33:22
Republic. The the winner of that race took
33:26
on as much debt as he could in the failing currency and bought
33:30
hard assets. And that's exactly what micro
33:32
strategy is doing. So, so I, I think it's a genius
33:36
plan. It's it's a ballsy plan.
33:38
And by the way, when Trump says play with your Bitcoin, he's
33:41
literally saying since you are your Bitcoins, he's literally
33:44
telling you to play with your balls because having Bitcoin
33:47
takes balls. So yeah, that's my two sets.
33:51
Or two. Balls or two?
33:52
Two sets. Love it, love it.
33:55
Oh man, that's so good. I mean, also to your point,
33:58
seriously a little bit, you know, in the Fiat world, the
34:01
traditional financial world that that we live in, you, you are
34:05
incentivized to take on more and more debt so that you can try to
34:08
get ahead. Because everyone knows that
34:10
basically debt is money now. So the more debt you can acquire
34:14
and put into hard assets, the better off you will be in the
34:17
world. And coming from someone that
34:19
like, literally would just save money under my mattress, I've
34:22
always been averse to having debt.
34:24
And I didn't understand the Fiat game until I understood Bitcoin.
34:28
And I'm like, oh, wait, they are taking debt out on purpose so
34:32
that they can buy assets. Like, I wish I would have
34:34
learned this in high school. That would have been a way
34:36
better, way better learning curriculum than whatever I
34:39
learned in high school. But hey, you know, they don't
34:41
want you to know these secrets out there on Wall Street.
34:43
But now you do. Anyways, Luke, what's your
34:45
thoughts on this? And yeah, the, the the metaphors
34:50
keeps coming up with new metaphors.
34:51
It's fantastic. But on the on the marathon
34:53
situation specifically, yeah. I mean, anyone adopting this
34:57
particular strategy is is going to win as long as they don't
35:00
crash and burn their business otherwise.
35:02
But The thing is here mining is a is a really difficult
35:05
business. And it's it's decentralized by
35:07
nature because the energy is decentralized and you need to
35:10
get at the energy. And Marathon is interesting
35:12
because they run their own pool, but the pool situation is
35:16
actually where mining is centralized, right?
35:19
That where there there are only a certain amount, a number of
35:22
pools that can mine economically, where if you
35:24
attach yourself to this pool that you might actually have a
35:26
chance finding some blocks and mining.
35:29
Centralization is honestly one of these only things that
35:32
personally that I, I think really needs to get fixed one
35:35
way or another and marathon going in and really taking this
35:40
strategy to to try and get better, bigger and and beat the
35:44
market. Hopefully it encourages some
35:46
other miners to also do the same thing because I, I personally
35:50
don't want to see anyone miner gets too big of a stake because
35:53
that's just going to be a start to be a threat to Bitcoin.
35:57
But the, the other solution is to mine with pools that let you
36:00
select your own template and let you have control of what you're
36:03
actually mining. Otherwise you're just a hash
36:05
salesman effectively. But Marathon isn't really in
36:08
that situation because they actually are the pool
36:11
themselves. So it's it's an interesting
36:12
situation that mining is a fascinating, fascinating
36:15
industry. Yeah, 100%.
36:17
And and I mean also like as Marathon being a Bitcoin mining,
36:21
there is significantly more risk involved in them doing that
36:26
strategy versus just Sailor doing the strategy with micro
36:29
strategy. So it's going to be very
36:30
interesting to see if other miners follow the same suit or
36:34
what actually happened to the company.
36:36
Obviously as Bitcoiners, we don't like to see Bitcoin
36:38
companies explode, but it's it's definitely a ballsy move.
36:42
But if the price starts running, I'm sure they're going to be
36:45
very happy about this. But Canoe, you wanted to chime
36:47
in on this? Yeah, Bitcoin has only one enemy
36:52
and that is complacency. If we become too complacent then
36:56
attackers might find some kind of vector to attack it.
36:59
The spam is 1 attacking layer twos and on and off ramps is is
37:03
another one. And we need to stay vigilant.
37:07
We need to be the people we were back in 2017 when we when we
37:11
told the big blockers to to to basically go F themselves.
37:15
Because that kind of that kind of resilience is what keeps
37:19
Bitcoin alive. And if we lose that, we, we, we
37:23
might lose the entire thing. Now, having said that, I don't
37:26
think there's a risk of that because information moves faster
37:30
than almost anything else. So, so we just need to get the
37:34
message out to as many people as possible.
37:37
And if we do, and if Bitcoin stays decentralized and secure,
37:41
then we, we do not need to worry about what any politician says
37:45
about it or any large corporation or anyone else for
37:50
that matter. I mean, from a certain
37:52
perspective, it's even better to have a anti Bitcoin politician
37:56
in charge because that prevents people from being complacent.
37:59
That will force people to run their own nodes and, and to make
38:03
sure that they secure their privacy and whatnot.
38:06
So, so it's a it's a double edged sword when when
38:09
politicians starts talking about Bitcoin, especially someone
38:13
that's with as large of a following as former U.S.
38:18
President. Totally agree, totally agree.
38:22
And man, I, I wanted to chime in on something you said, but I'm
38:25
blanking on it right now because there's so many moving parts.
38:28
So I'm just going to move into the culture here with you guys
38:31
and we'll talk about your guys's project because I completely
38:34
brain farted on what I wanted to add on top of that.
38:36
But anyways, here we go. Let's get into the culture, the
38:41
daily culture, all right, you know the deal, boys and girls,
38:50
we got to pay the bills. So get on the orange pill app.
38:53
As we've been covering on the show, as we constantly cover on
38:56
this show, Bitcoiners are going to be, in my opinion, my humble
38:59
opinion, some of the most influential people in the world.
39:02
So you want to build or rather take your your cyberspace
39:06
relationships into meat space and build local communities,
39:10
stack friends who stack sets, make sure you go to
39:12
orangepillapp.com. Get on there, connect with other
39:15
Bitcoiners, maybe even if you're the the sole crazy Bitcoin in
39:19
your community, start a Bitcoin meet up, get more people
39:22
involved around you so that we can actually build, you know,
39:26
the fabled Bitcoin circular economy, but really solidify
39:30
these relationships in real life.
39:32
This that's the most rewarding aspect of of my Bitcoin journey
39:35
is the friends I made along the way.
39:37
I know we joke about it. You know, if Bitcoin never hits
39:39
all time high again, the real gains were the friends we made
39:42
along the way. That's trolley.
39:46
That's trolley. All right, let's let's move into
39:49
what you guys are working on over at the free previously
39:53
named freedom footprint show. So we'll just jump right into
39:57
that. Let let's just jump right into
40:00
what was the thoughts behind the rebrand.
40:02
What made you change the name from freedom footprint show to
40:06
the Bitcoin Infinity show? I don't know Luke or canoe.
40:09
Who wants to take this one? I'd just like to comment on the,
40:12
the yield is the friends you make along the way and then give
40:15
it, give it to Luke because it is absolutely 100% true since
40:21
you are your Satoshi's that the yield is the friends you make
40:24
along the way. So make make sure you befriend a
40:27
lot of Bitcoiners there. There are no better friends to
40:29
have in the world. 100% or 100%? OK, Luke, then why did you guys
40:34
reread? Yeah, you got it.
40:36
So the the original term freedom footprint came from a quote from
40:40
Knut's book Everything Divided by 21 Million, which you'll see
40:43
behind me to the oh, that side. And yeah, that book is, is a, is
40:48
a classic. If you've if you've read it, if
40:50
you haven't read it, recommend checking it out.
40:53
The, the thing was the, the idea was that the, the freedom
40:56
footprint is the, yeah, Bitcoin emits freedom dioxide and, and
41:00
we want you to emit as much, much freedom dioxide and grow
41:03
your freedom footprint as large as possible.
41:05
And so we are really focusing on the freedom angle for the first
41:09
kind of year, year and a half of our shows run.
41:11
But then eventually we, we decided that this isn't really
41:14
encompassing exactly what we are together.
41:17
Bitcoin Infinity. Is this, this whole big thing
41:20
again, Knute came up with the, the meme.
41:22
I've been working with him for the last two years now and it's
41:26
been fantastic and just exploring the infinite potential
41:29
of Bitcoin. That's the idea of the Bitcoin
41:31
Infinity meme, everything divided by 21 million.
41:34
And that's what we're really leaning into.
41:36
We, we've always been a Bitcoin show, a Bitcoin organization,
41:39
and I'll get to that just in a, in a second here.
41:41
But the, the, the idea here is that we're, we're wanting to
41:44
explore and expand conversations with all facets of the, the
41:50
Bitcoin world. And freedom is still a, a big
41:52
focus. We have a chapter in our, our
41:54
new book Bitcoin the universe of clown world called freedom
41:57
footprint explores this topic much more deeply.
42:00
And we're still going to be focused on that for sure.
42:02
But Bitcoin Infinity is a larger, more encompassing thing.
42:06
And basically you can find everything we do now under the
42:08
Bitcoin Infinity brand. And, and that's, that's really
42:11
just to also say is that we've, we've turned this into now
42:14
essentially we've written this new book and we're, we're
42:17
publishing it together. And, and so to the, to the
42:22
extent that we're, we're self-publishing, but we, we
42:25
started up our own new website and we accept Bitcoin there.
42:29
And you'll eventually you'll be able to find all of Knut's books
42:33
on their translations, merchandise, all this stuff.
42:36
So yeah, we've, we've started to turn this into, yeah, basically
42:40
this is Bitcoin Infinity Inc, for lack of a better term.
42:44
Let's go. Yeah, Love it, Love it.
42:46
OK, one of my favorite memes, Canoe, is the Infinity divided
42:50
by 21 million. I think it's one of the stronger
42:53
memes that has came out of Bitcoin in the last couple of
42:56
years. But we did get a good question
42:58
here. So I'm going to put you on the
42:59
spot here, Canoe, because he always trolls us about we, we
43:02
talk about the Bitcoin price, you know, SAT's per dollar every
43:06
single day. And he's like, no, you're wrong.
43:09
It's Infinity per SAT. So the question for you Canoe,
43:12
is if Bitcoin is going to be Infinity per SAT one day,
43:17
doesn't that mean it's already Infinity per SAT today?
43:21
That's up to you and how you value it because valuations are
43:24
subjective. So bitcoins price is a
43:27
reflection of supply and demand and I mean your demand for it.
43:34
You decide that yourself. What you don't decide is the
43:37
supply which is limited. And this the first time that we
43:41
had a supply and demand curve that looks like this where where
43:44
the supply is totally finite and then demand can go up and down
43:49
temporary. But as as time passes, demand
43:54
will inevitably go up, especially since people who lose
43:58
satoshis and so on. So supply will decrease over
44:02
time probably if people aren't careful.
44:06
So. So yeah, that's the Infinity
44:08
meme. It comes from a sentence in an
44:12
article I wrote a long time ago that was actually published, I
44:15
realized in hindsight on the 21st of August 2020.
44:19
Like how how incredible is that? There are no coincidences,
44:23
right? And the the sentence was imagine
44:26
everything there is and everything that I ever will be
44:28
divided by 21 million. So, so I never said Infinity, I
44:32
said everything. So it's everything humans can
44:35
come up with goods and services, all of them the the potential is
44:41
there. There are still some technical
44:43
issues and what not to solve but but the the point is the
44:47
potential of this thing and to give people a different
44:51
viewpoint instead of looking at dollar price and realize that
44:54
they decide the value of their Satoshi's and if you realize
44:59
what this thing is you are going to value them higher than
45:02
everything else basically and all ties into us being the
45:08
Satoshi's. That means you, you value your
45:10
fellow man or your fellow Bitcoiner, your fellow person,
45:15
he, she, or whatever gender they may be, you hold them in higher
45:21
regard. It's, it's, it's a very human
45:24
thing like that because it's literally appreciating people
45:30
more than stuff. At the end of the day.
45:32
That's what this is all about in my mind.
45:34
Love it, love it. Chris, you wanted to pop in
45:36
here? Yeah, no, I I think that was a
45:39
great thing with Canute was saying kind of like Infinity
45:41
divided by everything, you know, or Infinity divided by per SAT.
45:45
But like, I know we always joke and say like, you know, what
45:48
happens if Bitcoin goes to 1 cent per Bitcoin?
45:51
You know, everyone's like, oh, well, I set my limit order to
45:53
one cent per Bitcoin and then OP, he's like I said, it's a two
45:56
cents per Bitcoin. Well, it's basically the
45:58
inverse, you know, if if the four of us.
46:00
Luke Canute Opti and myself don't sell our Bitcoin to for
46:04
any amount of Fiat. You can give us all the Fiat in
46:06
the world, all the Zimbabwe dollars, all the EUR, all the
46:09
yen, every currency in the world and we don't sell it for that.
46:12
We value it for other things. Then technically it's already
46:14
set at Infinity. Infinity divided by percent is
46:17
the same thing as people saying they've set the floor of their,
46:20
you know, they'll buy all the Bitcoin if it goes to 1 cent per
46:22
Bitcoin or two cent per Bitcoin. So it's kind of the inverse of
46:25
it. And obviously, you know, the
46:26
price is set in the margin. So obviously we saw over the
46:29
weekend all these traders get liquidated.
46:31
They're trying to short Bitcoin as it crashed and then they got
46:33
liquidated trying to long Bitcoin, you know, trying to
46:36
short it still to go lower. And then it went higher and it
46:38
rebounded back to its price. So obviously the price that you
46:41
see is set at the margin of everywhere else.
46:43
But, you know, if you're never going to sell your Bitcoin for
46:45
any Fiat price, then it doesn't matter.
46:47
And you already are operating at Infinity over per SAT versus,
46:51
you know, the margin of like, hey, we'll buy all the Bitcoin
46:53
if it goes low enough in Fiat terms.
46:55
Love it, love it. OK, canoe, jump in again.
46:58
Yeah, just shortly there like a a good visualization for how how
47:02
the Bitcoin price works that I have in my head is a stairway to
47:06
heaven. And it's a stairway that's 50
47:08
meters wide in the beginning. And then after four years worth
47:13
of worth of steps up to heaven, it's halves into 25 meter wide
47:18
staircase and then it's a 12 1/2 and so on and so forth.
47:22
And there is this represents the Hobbings and you have a crowd of
47:25
people trying to get up the stairs.
47:27
And occasionally there's a a runner that that's ballsy and
47:32
walks up a lot of stairs and and then he gets cold feet and he
47:36
wants to get down again, but he can't get all the way down
47:39
because there's a crowd of people stopping him from
47:42
reaching the bottom of the of the of the stairway.
47:44
So it's literally a stairway to heaven, right?
47:46
That like that. Love it, love it.
47:49
Great meme, great meme. All right, I do want to
47:51
transition a little bit so that we can plug your guys's new
47:54
book, the inverse of Clown World.
47:56
But before I do that, I think a good way to frame this is I'm
48:00
pretty sure this was the first episode you guys dropped as the
48:03
Bitcoin Infinity show canoe. You said something that I that I
48:07
just absolutely love and I couldn't agree more.
48:10
But you framed it in this idea of Bitcoin is the greatest noise
48:13
removal removal tool we've ever had.
48:16
So can you elaborate what does what does that mean?
48:18
What? What does noise removal removal
48:20
tool mean? Yeah, there's a lot of talk in
48:23
the Bitcoin space about finding the signal in the noise.
48:27
And Bitcoin itself is just maths and code and stuff.
48:31
So it's not really the signal, but it is the greatest noise
48:35
removal tool ever created because all the tool, if you
48:38
think deep about tools and technologies, they all have the
48:41
same single purpose. And that is to save someone time
48:44
somewhere. And since money is the thing
48:48
that you can exchange for literally everything else, the
48:51
best form of money becomes the best tool ever created.
48:57
And when money is in your head and is you and is incorruptible
49:02
and a total representation of true of the absolute truth and
49:06
is decentralized and secure and censorship resistant and
49:09
teleportable and all these nice things on top of that, then that
49:14
is by definition the best tool ever invented and the best site
49:18
time saving tool. And when you free up time, you
49:20
have time to find yourself. You have fine to find your
49:23
purpose, your, your signal. Because I think every, every
49:27
single, the meaning of life is different to different people.
49:31
And as an A freedom lover, I, I embrace that.
49:36
And I think everyone should should go and live their own
49:38
lives and find their own truths and find their own, maybe not
49:42
their own truths because I do believe in the objective truth,
49:45
but but but find their own passions.
49:50
And Bitcoin allows for that if you use it properly, which is
49:53
acquire them, accept them for your goods and services and
49:56
don't spend them. It's as easy as that.
49:59
Totally agree, totally agree. Well, I knew that that question
50:02
was going to tee up the inverse of clown world perfectly 'cause
50:05
that that's AII couldn't have summed it up better.
50:08
But let's do the hard show of the inverse of Clown world.
50:11
So you guys told me I was running this down with Luke
50:14
earlier and we couldn't have picked a better date for you
50:17
guys to come on. You're about to drop the inverse
50:19
of clown World for publicly for everyone.
50:21
So let's talk about that before we wrap up today's show.
50:24
There we go, inverse of Clown world.
50:27
I'm, I'm just going to start off by saying, if you liked
50:30
everything divided by 21 million, there's there's a
50:34
definition of the definite, what's the word Luke definite
50:39
definitive, definitive version of that.
50:44
Now, that's why it has this new cover that you see behind Luke
50:47
there. But the inverse of clown World
50:50
is the spiritual follow up to that book and in my opinion
50:56
recently by us here, I know, but I think it's the best book I've
51:01
written so far. And much of that is because of
51:04
Luke's fantastic contributions and that we Co wrote the thing
51:08
and we've really put in the work to make make it the best we
51:13
could. And I think if there's one
51:14
Bitcoin book you should should read this year, it's probably
51:18
this one. And I'm proud to say that.
51:21
So you'll find pre pre-order it at bitcoininfinitystore.com.
51:25
And don't forget 9 days from now, you know what?
51:29
You know what happens 9 days from now?
51:32
We release the book and we celebrate Bitcoin Infinity Day.
51:35
So I see all your beautiful commenters here.
51:38
Tell me in the comments section, please, how are you going to
51:42
celebrate the infinite potential of Bitcoin this year?
51:46
How are you going to celebrate Infinity Day, people?
51:50
We know how we are going to celebrated.
51:52
We're going to throw a party in Riga to kick off the Baltic
51:55
Honey Badger Conference and the Nost Riga conference that Jack
51:59
is putting on over there and we're going to have a swell
52:01
time. Rockstar, Uncle Rockstar is
52:05
involved and we're just go. We're going to have a little
52:08
ceremony and all sorts of stuff. We're going to have three types
52:12
of drinks, a blue one, an orange one and a purple one.
52:15
I'm spilling the beans here. I know Luke, so maybe you should
52:18
take over and shed the book instead.
52:20
Yeah, Yeah, Luke, OK, maybe breakdown just the title of the
52:25
inverse of Clown world. What?
52:27
What does that even mean for someone that maybe has no idea
52:31
even what Clown world is, has no like just for the first time
52:34
hearing this signal, what does that title mean?
52:37
The inverse of Clown World. You've got it.
52:39
Well, Clown World is the world we're living in today.
52:42
It is the world in the midst of Fiat.
52:45
It's Fiat run amok. It's woke, it's everything going
52:49
crazy in the book we go into the first few chapters are all
52:53
digging into what's playing into clown world and the and the
52:56
really broken incentives that come out of clown world.
52:59
The a lot of the reasons that people behave the way they do is
53:02
just because the system is set up the way it is, right?
53:06
And that's clown world. And so, I mean, there's, there's
53:08
examples everywhere. There's Harvard administrators
53:11
not being able to disavow anti-Semitism or, or then
53:15
finding out that they're plagiarizing absolutely
53:17
everything. It's, it's the situation going
53:20
on in the UK right now where speech is literally being, is
53:24
literally being getting prison sentences.
53:27
It's, it's 1984, forty years too late.
53:30
Basically clown world is, is all of that and more.
53:34
It's the, it's the world we currently live in.
53:35
I, I can't imagine that anyone listening to the show it doesn't
53:39
have some idea of how they're currently affected by, by clown
53:42
world at the moment. And the inverse of that.
53:44
Well, this is a, this is a math thing.
53:46
We're, we're leaning into kind of the equation.
53:48
Everything divided by 21 million.
53:50
Well, the inverse of clown world.
53:51
So to invert something is to, is to undo it.
53:54
It's to it's to undo the operation, right?
53:57
And so by our, our thesis is that Bitcoin is really the thing
54:02
that can undo all of the damage that clown world has done there.
54:06
There are of course, many other things.
54:08
Taking responsibility for yourself is, is essentially the
54:11
the TLDR of of what the book the book is.
54:14
So it's, it's not just Bitcoin. We are bitcoins like Knut
54:17
alluded to, right? But the solution is actually to
54:20
take responsibility for yourself and what you can do in the
54:23
world. Make yourself the best person
54:25
possible, expand your freedom footprint as as much as
54:27
possible, and then go forward into the new world and hopefully
54:32
everything is improving one step at a time, one person at a time.
54:36
100% I think if people have watched this show, they know
54:42
clown world because that's like we wouldn't have a job if we
54:45
weren't living in clown world right now.
54:47
We wouldn't have things to talk about because it's very clear.
54:50
As a Bitcoiner, I say it all the time, once you are able to look
54:53
through the Bitcoin lens or you have, you know, the, the Bitcoin
54:56
fundamentals, it does flip everything on its head and you
54:59
realize a lot of the stuff you're hearing is either
55:02
outright lies or just, it's just bad and flawed thinking.
55:07
And once you're able to kind of settle down, look through the
55:09
world through a correct lens, which I would argue Bitcoin,
55:13
that's why it's so successful, because it does play into
55:16
natural law and, and how nature actually works.
55:19
And that's why it's the best money in the world.
55:21
You're able to look at the world correctly and you don't, you
55:24
don't fall for all of the, you know, misbehavior and all of the
55:28
lies. You're like, no, they're lying
55:29
to me. This is messed up.
55:30
This makes no sense to me as a Bitcoin, as a thinking person,
55:34
as as the fast Mohicans of the thinking people out here.
55:38
You can see the world clearly. But anyways, can you?
55:40
You want to jump in on this? Guy, I just echo everything you
55:45
said. Let's go, let's go.
55:48
All right, so actually one last thing before I wrap up today's
55:51
show because it's I think it's going to really, you know, put a
55:54
bow tie on this. I saw Luke, you were on
55:57
Breedlove's show the other day and I really love the idea of
56:02
the purpose of stories and how important it is to share.
56:05
In my opinion, one of the best stories ever told, AKA Bitcoin.
56:08
And this is all we as bitcoiners, as content creators
56:11
are, are really doing, is just trying to explain the story of
56:16
Bitcoin and what it's done for us and the story of humanity
56:19
moving forward. So what is the importance of
56:22
stories, Luke? And then I'm gonna pass it to
56:23
Canoe before we wrap this up 'cause I, he's a great
56:26
storyteller as well. So Luke, what is this idea
56:28
about? Yeah, thanks Opti.
56:31
You know, the, the series that I was just on with, with
56:33
Breedlove, that was that was a fantastic time. 11 episodes of
56:36
us just absolutely nerding out about yeah, the the purpose of
56:39
stories and the what, what I found the the original thing
56:43
that got me down all of the rabbit holes just starting to
56:46
figure out the world was understanding stories.
56:49
What do stories actually tell us?
56:50
And, and The thing is, the deepest stories in the world,
56:53
whether that's the the Bible, whether that's mythological
56:57
stories like, you know, Zeus or Odin or things like that, or
57:01
it's Eastern mythology, stuff like that.
57:03
It's, it's, it all comes down to the deepest wisdom that we've
57:06
ever had in society and how that trickles down throughout the
57:10
ages to really distill these things into, into something
57:13
meaningful. But the, but The thing is, you
57:15
have to know the language. You have to know what's being
57:17
said in these stories. Usually this stuff is written
57:20
in, in language that's difficult to understand, or maybe it's
57:23
using metaphors that are a little hard to follow.
57:25
And so the, The thing is, if you learn to understand what stories
57:28
are actually saying, you can get a blue to actually be a a good
57:32
person in the world. And I, I do believe that there
57:35
is such a thing as moral right and wrong.
57:38
And it, but it's not on the level of something that
57:40
necessarily cosmic. It's more like, it's more like a
57:43
case of this is what you should do because it's going to get you
57:47
success. More likely than not, It's it's
57:49
going to bring you better status in your society.
57:52
It's going to be better off for everyone in your society.
57:54
And so when, when I personally, I'm, I'm very much since going
57:59
down the rabbit hole, I've, I've gone as anarcho capitalist as
58:02
they come, basically dismantle a system and, and build it anew
58:06
with as much freedom as possible.
58:07
But I, I do also believe that there is a, a system of, of
58:10
moral guidelines that does come down through these ancient
58:13
stories and ways of breaking those down is basically how, how
58:17
I've been doing that. But the, The funny thing is how
58:18
Bitcoin really, really relates to all of this.
58:21
Bitcoin is akin to a shamanic journey where you, you
58:24
completely discard the identity that you, that you once had.
58:28
This is the Fiat world, but you go go down into the depths of
58:31
hell and you come out you come out born again.
58:34
You come out absolutely born again with this new knowledge of
58:37
Bitcoin and you come out a better person and it's it's just
58:40
amazing and all of the potential there.
58:42
One of the latest episodes in that series, we went into how
58:45
Bitcoin is actually akin to the philosopher's stone from
58:48
alchemy. Bitcoin is is actually the the
58:50
highest thing that that The Alchemist for 1000 years.
58:54
We're trying to conceive a Bitcoin has all of those
58:56
properties. It's it's better than gold.
58:58
It's better than any other form of money, any form of store
59:01
value. It's it's the best there ever
59:03
has been. And it's a tool to become better
59:06
people, better civilization. What can I say?
59:09
That's that's the power of stories to me in a in a
59:11
nutshell. Bars couldn't agree more.
59:13
Couldn't agree more. All right, Couldn't you wanna?
59:15
You wanna attack on that? Or did did Luke just just
59:18
elaborate perfectly on that? Well, he has a slightly
59:21
different perspective than I have.
59:23
And I think that's part of why we, we function so well
59:26
together. Because I, I like to view ethics
59:30
from a more strict Hopian argumentation ethics
59:35
perspective. And the Hopper argues that by
59:38
engaging in argumentation, you implicitly agree to a rule set
59:44
that does not allow for theft in the end.
59:47
Because let me lay that out. That is, if you're arguing with
59:51
someone and, and you come to some sort of a conclusion, if
59:55
you don't respect that conclusion but steal from the
59:58
other guy anyway or violate their property or, or beat them
1:00:02
up or whatever, then the argument wasn't really an
1:00:05
argument. It was just mockery on part of
1:00:07
the bully. And this is what governments
1:00:09
and, and the tax authorities and central banks are doing all the
1:00:12
time. They are you.
1:00:14
You can you can clearly prove that what they're doing is not
1:00:18
maximizing. Outcomes for as many people as
1:00:22
possible because free markets do that and you can logically
1:00:26
deduct your way to, to, to realizing that that is the case.
1:00:30
So, so I, I think you can logically deduct your way to
1:00:36
don't steal as a good principle to live by.
1:00:39
And when you live by don't steal.
1:00:41
And when you like preach that to others or whatever, or try to
1:00:44
spread that message, I do believe that you actually end up
1:00:47
with a better world. And Bitcoin is the very
1:00:51
embodiment of don't steal because it's can't steal.
1:00:55
That's the it's just at the end of the day, it's just an
1:00:59
agreement on a fixed set of rules, right?
1:01:01
Like the rules of chess or whatever.
1:01:04
And the reason we agree on these specific rules that Bitcoin is
1:01:09
the big, the rules of Bitcoin is because they, they are set up in
1:01:14
such a way that there are more expensive to, to that it's more
1:01:18
expensive to break the rules than to just follow them.
1:01:22
And that's why we agree on this specific rule set.
1:01:24
And what that in the end, what that allows for is absolutely
1:01:27
sound money, like absolutely finite money that we store in
1:01:31
our heads, allowing us to become our wishes and and purchasing
1:01:38
power, allowing us to become the sum of our efforts.
1:01:43
And that's just, that's just the, the, the greatest unlocker
1:01:47
of human potential ever, ever discovered, in my opinion.
1:01:52
Let's go, let's go. I love that Bitcoin is can't
1:01:55
steal technology. I absolutely love it.
1:01:57
OK, wrapping up the show guys, let's do one last plug for where
1:02:01
people can get the inverse of Clown World and when does it get
1:02:05
released to the public? Yeah, so you can get it at
1:02:07
bitcoininfinitystore.com. Sorry, can you Bitcoin Infinity
1:02:11
store.com and it is also on Amazon, but you can pre-order
1:02:14
it. Now we accept Bitcoin from
1:02:16
Bitcoin Infinity Store and you can also get the definitive
1:02:19
version of Bitcoin, the inverse of clown world there from that
1:02:22
store. You can get that now, plus all
1:02:24
of our merch, which includes the T-shirts we're wearing and a few
1:02:27
other things. And we've we'll be adding more
1:02:29
stuff to the store, so stay tuned, yeah.
1:02:31
We also we also accept government cock box for now.
1:02:35
If you. If you.
1:02:36
Prefer to pay by like, but yeah, it will be released on can you
1:02:41
guess it, Bitcoin Infinity day the 21st of August, so nine days
1:02:46
now and then you can get your hands on the book and if you get
1:02:50
your hands on the book, you'll also get your hands on your
1:02:53
sets, which is your balls. Oh, I mean, you'll, you'll get
1:02:56
your hands in a good place, all right, and you'll be in a good.
1:02:59
Place love it love it all right guys well thanks for coming on
1:03:03
the show today incredible conversation really enjoyed it
1:03:07
Let me pull you behind the scenes so I can wrap this up so
1:03:09
hang out for a second as I end this show all right guys that
1:03:14
was today's show today is Monday August 12th.
1:03:17
This was episode 1051 and this was simply Bitcoin.
1:03:20
If you think we provided you value, if you like what we're
1:03:22
doing here, smash the like button.
1:03:24
Share this content subscribe so you know when we go live.
1:03:28
Actually, one last thing, I did miss a super chat.
1:03:31
So shouts out to bake. Shouts out to my boy bake for
1:03:35
the $10. You super chatted us.
1:03:37
And this was earlier in the show.
1:03:39
And he goes, I've seen Opti at a Chinese buffet before.
1:03:42
Trust me, he knows a lot about hungry hippos.
1:03:45
Yes, your boy can eat. Your boy likes to eat.
1:03:49
OK guys. Well, we'll be back tomorrow,
1:03:51
same time as always, 12:15 PM Eastern Time, Monday through
1:03:54
Friday. We're always live.
1:03:56
Also, we do have a very special IRL with David Bailey coming out
1:04:00
tonight. I believe that's going to be
1:04:02
5:00 PM Eastern Time. But you already know the deal
1:04:04
guys. We will be back tomorrow.
1:04:06
So I hope you guys have a good rest of your day.
1:04:08
Get outside, cut some grass, get a workout in, eat some good
1:04:12
food. This is the way.
1:04:13
This is how you ensure, as Canute was saying, that you
1:04:16
become the best version of yourselves, that you actually
1:04:19
become those sats that you are holding.
1:04:21
On that note, boys and girls, it's your boy Opti and I will
1:04:25
see you tomorrow. So it was brought to you by
1:04:30
bitcoinwell.com on a mission to enable independence.