Latest / Simply Bitcoin / The Progressive Case for Bitcoin (Part 2) | EP 492

Transcript

The Progressive Case for Bitcoin (Part 2) | EP 492 · Simply Bitcoin

0:04
Welcome back everyone. We're simply Bitcoin.
0:06
We break down the news. The daily fail mean review.
0:09
Software releases Hardware, releases and the plebiscites
0:13
joining us today. We've got to fellow bitcoiners
0:17
return guest fumble make Bumble and we've got a new guest Margo
0:23
also known as jyn erso on Twitter, fellow Bitcoin or
0:27
joining us. Thank you both for joining us.
0:30
Thanks for having us. Yeah, thanks for having us.
0:33
All right, let's dive into the numbers.
0:34
Let's do it. Nico.
0:36
Now that's brought to you by Nuttall.
0:38
They make some of the best Bitcoin notes like the novel
0:42
Dojo. The one I'm holding it in my, in
0:44
my hand. It's in red.
0:46
That means it's very fast. Also made of metal.
0:50
Remember guys. If you don't run your own
0:52
Bitcoin node, you're trusting someone else's, that's a big
0:55
No-No for privacy, run your own version of Bitcoin core and the
0:59
lightning Network. In the comfort of your own home.
1:02
Get yourself a Bitcoin know today.
1:05
Like the nozzle at the time of this recording.
1:06
The block height is 737,000 895 the Bitcoin price 29,000 735
1:12
chain rewrite day, 757 total public lightning capacity.
1:17
Almost 4K, 3911 dot 64, BTC Moscow time, 3363 blocks of
1:25
having 102,000 105 and the samurai whirlpool.
1:29
And capacity. Samurai Whirlpool is a coiner
1:32
collaborative. Spend.
1:33
It is not a mixing service and the unspent capacity for that
1:37
pool is 4770, 2.90 eight numbers number again numbers again.
1:46
Well guys, check this out. Some some things to talk about
1:50
during the number segment. We're going to do a follow-up to
1:54
you know, the the world economic Forum that's currently happening
1:57
in Davos the hypocrisy of the This world.
2:00
Deletes the BS. That is the whole ESG stuff
2:04
rules for the, I mean, yeah. Rules for the enough for me.
2:08
That famous saying, you guys, are you guys know what I'm
2:10
talking about before? I got this really interesting
2:13
screenshot. And if you want to know, if you
2:16
are late to bitcoin, I've seen this, I've seen the shown many
2:21
times, right? This is the Bitcoin adoption
2:24
curve, right? Don't take this as you know as
2:27
factual, but you can kind of get A pretty good feeling of where
2:31
we are. And if you think we're still
2:33
late, if you think you're late, right, this is the innovators.
2:36
I feel like these are the people that got in before 2015.
2:40
I would say the early adopters are really people that got into
2:43
this in the 2017 cycle. And here's the chasm before the
2:47
first early majority gets in, right?
2:50
So just just don't be in the laggard section.
2:53
Anyways, I just wanted to show that I thought was really
2:56
interesting. Anyways, I tweeted this out a
2:58
couple days ago. I said they do not care about
3:01
Bitcoins environmental impacts. What they want.
3:04
Is to get to decide what energy uses.
3:06
Okay, and what isn't I'm going to go back to this.
3:08
By the way this in the could be the last time I'm going to talk
3:10
about this. I'm going to talk about this
3:12
during the new segment. I have some more evidence and
3:16
here is Elon saying which it doesn't make sense to me.
3:20
Write X axon, which is a huge oil and gas company is rated top
3:24
10 best in world for environmental, social justice
3:27
ESG by the S&P 500. And while Tesla didn't make the
3:31
list yes, Jesus cam. It has been weaponized by phony
3:35
social justice Warriors. I believe that as well because
3:38
how could it be that one of the largest oil and gas companies is
3:43
so-called ESG compliant, but Elon musk's Tesla, which is
3:48
literally create. He's the one innovating.
3:51
He's responsible for this electrical vehicle Revolution
3:56
that, you know, is going to help people get off of, you know,
4:00
Fossil fuel using cars, which would potentially help the
4:03
environment, but he's not awarded and environmental social
4:06
justice approval, I guess and more hypocrisy.
4:11
Right? This is the UN special Envoy for
4:13
climate action, Mark Carney pushes my microphone away,
4:17
trying to avoid scrutiny over his blatant hypocrisy and being
4:20
a part of such a huge carbon footprint in Davos, right?
4:24
Remember, we've showed you videos yesterday.
4:26
They're taking private jets. They're taking, you know, gasps
4:29
go go. Killing expensive luxury
4:31
vehicles. And here again.
4:32
Here's more hypocrisy. So this makes you believe,
4:35
right? Is, is that ESG thing really is
4:38
a form to control people. Or is it really about the
4:41
environment this tweet by Elon musk's about Exxon being, you
4:45
know, so colds not a more ESG friendly than Tesla even though
4:49
Tesla's electric vehicle company and again more hypocrisy from
4:52
Davos. Anyways, let's check out this
4:54
video Hattie Hattie justify the, how does the UN climate
4:57
envelope? Justify the massive carbon?
5:00
Today to set this up this, fake City for a week event.
5:05
How did you, how did you get here?
5:08
Did you fuck you walked? Did you come on a private jet
5:13
for some nice. So, how do you justify this?
5:15
Look at all of this for one week event.
5:17
The carbon footprint is huge dining.
5:20
That's a bit hypocritical. Look, there is lots of progress
5:26
being made, but look, I'm not doing a stand-up interview.
5:28
Okay, so why not? You're walking that way.
5:30
Anyways, I think of people around the world, you know,
5:33
this. See this are we gaining trust?
5:35
I, that's the whole purpose. I do lots of media friendly
5:39
media. No, I do like no God, no one's
5:42
there to hear invited the I'm doing what I'm doing.
5:44
No media. That's when we sit down and I'll
5:46
make a time with you and answer some actual tough questions.
5:50
You can, you can make a request for a meeting and you can deny
5:54
it. Look, as I say, with everyone
5:56
has with everyone else, you can do the same thing as, with the
6:02
Amazing. He's a good guy, but I'm not
6:04
gonna go. I'm sure you're good guys.
6:05
Well, all people are good. I've got it's absolutely right,
6:08
but but the whole world is looking at least.
6:10
Now going to your pack of Hypocrites in your other, you're
6:12
at the top of the chaining Hadley.
6:14
What would you answer? People?
6:15
Just give me one answer to the people?
6:19
Okay, sir. So more of what we've been
6:24
talking about. This is what Elon Musk is
6:26
referencing, right? It's rules for thee, but not for
6:29
me. And yeah, look, what does this
6:32
have to do with Bitcoin? Because it's a Bitcoin show
6:34
after all, remember guys. If you control the energy, you
6:37
control people, the whole ESG is an attack Vector on Bitcoins
6:41
energy usage. We've seen it used by in you
6:44
know by the Democrats in the United States.
6:46
We've seen it used by European. Jeans, right.
6:49
So yeah, and I'm not the only one saying this.
6:52
We also have James Lindsay, which is a predominant.
6:55
Conservative commentator, also saying that this whole ESG stuff
6:59
as very nefarious, intentions, and I don't think it has
7:01
anything to do with the environment and it is a
7:03
potential attack factor and they are using as an attack Vector
7:07
against Bitcoin. Anyways, Jean.
7:08
I know you have some experience with, you know, and especially
7:13
working at the Bitcoin policy Center.
7:16
What are your thoughts on this? Yeah, well, it's the is the
7:20
Bitcoin policy Institute and I'm a fellow there and some of my
7:25
comments today will not reflect the Bitcoin policy Institute.
7:30
But yeah, I mean, I think it's really interesting with with
7:34
these Davos people and I want to be clear that you can care about
7:39
climate change and also disagree and see the hypocrisy of the
7:43
Davos group as well as I personally do.
7:48
And You know, flying around in private jets.
7:52
And the reality is that these very, very wealthy leads are
7:56
some of the greatest emitters of carbon emissions.
7:59
Like they are responsible for like much of the emissions that
8:04
we have right now in the atmosphere.
8:07
So it is hypocritical. And yeah, I mean there is a
8:12
great misunderstanding around energy usage with Bitcoin and
8:16
Bitcoin mining what purposes? It serves and I think it really
8:20
just comes down to whether or not you value Bitcoin.
8:24
If you think it serves, absolutely, no purpose.
8:26
If you think it's just speculation, then you're never
8:30
going to believe that any amount of energy.
8:34
Use any amount of kilowatt hour is worth going toward Bitcoin.
8:40
That's the reality. So it's really you have there's
8:44
a lot of Education that still needs to happen and it's
8:47
unfortunate. Because people like Elizabeth
8:50
Warren who have based their career on going after the
8:54
banking industry and in particular after the financial
8:58
crisis of 2008 that that they completely missed the mark on
9:03
bitcoin because it is a critique of this same system that she
9:09
claims and others, like, her claim to oppose.
9:11
So yeah, it is. It is problematic definitely,
9:15
and yeah, in a way it is, it is an attack vector.
9:18
Actor on bitcoin visits. It's probably the hardest
9:21
narrative to fight. I think it it's just it's one
9:26
that never dies. And a lot of people rely on Old
9:31
fud that has been completely debunked, including the Murrah
9:35
at all paper. That claim that Bitcoin was
9:37
going to melt the planet in two years, you know, it would make
9:41
Bitcoin. Sorry Bitcoin would make a
9:43
global warming hit 2 degrees Celsius within a decade, right?
9:46
That was the claim and Other scientists.
9:50
There was three papers published in the same Journal.
9:52
That said, no. This is the methodology is
9:54
really bad. So, yeah, it's a never-ending
9:58
battle. But hoping that we can make some
10:02
progress and change the minds on this with our work.
10:06
So we had Natalie Brunell on the show about a week ago and she
10:12
kind of had the same opinion where it's a lack of Education
10:17
Phil and I have been covering I'm this subject every single
10:20
day and we have come to believe that it's a little bit more
10:26
nefarious, than lack of Education.
10:29
I'm going to get to that during the news and I would love to get
10:32
more of your thoughts. But fumble.
10:33
What are your thoughts on these hypocritical?
10:36
Elites in Davos burning all that jet fuel, but telling the
10:40
peasants. No, no, you gotta do nothing and
10:43
be happy and eat your buck. Shut up and eat your bucks.
10:46
Yeah. I'm also very Of ESG, I think
10:49
it's a tool that's used by The Establishment for their own
10:54
purposes. It may be an indicator of how
10:58
how connected you are with the establishment where Exxon is top
11:01
10 and was Tesla has recently fallen out of favor.
11:05
So they're, they're out and seeing seeing the devil's
11:11
reminds me of them. I think.
11:13
I think it was some climate conference in Glasgow and
11:17
scot-free. Last year's.
11:20
Yes, and they had, like, people carriers picking up people from
11:24
the airport and taking them to the conference and they were all
11:27
like, Tesla's and stuff, but they were all like recharge with
11:31
like diesel generators around the corner.
11:33
So there's, there's a clear kind of like smoke and mirrors.
11:36
They like to kind of give this image and and yeah, you know, I
11:43
think I think we really lack of nuance from the whole discussion
11:47
like, Can both recognize that ESG is a scam and used by the
11:53
state to extend their power and as well all acknowledge that
11:58
climate change, whether we might, you know, squat about
12:02
specific, very specific predictions.
12:04
It's an established fact, and and so I do, you know, having
12:09
that nuances not, you know, doesn't mean that, you know, we
12:14
cut, We can't agree, you know, on certain points here.
12:18
And I also wanted to say, like, it's been a long-standing, like
12:23
tactic of the fossil fuel industry to fund the the
12:29
propaganda to individualize climate change.
12:33
The fact that like, you know, I thought I saw a clip of some
12:38
going Davos. I think you've already showed it
12:40
on maybe yesterday, show about whether it's today about the
12:46
using technology to they have an Eventual track of your carbon
12:51
so, you know, putting the blame but on two individuals were in
12:54
really like there's massive systemic like institutional
12:59
level abuses, you know, I saw a tweet from military cross
13:04
recently also from the Bitcoin policy Institute and said the
13:09
largest US Banks and asset managers responsible for
13:12
financing equivalent of almost two billion tons of carbon
13:15
dioxide in 2020. Making the US Financial It'll
13:18
set of the world's fifth largest emitter if it were a country, so
13:24
they're good at, you know, using them their Capital to misdirect
13:27
us to blame us, blame. The individual, make us all look
13:30
at the plebs and blame them, and to redirect attention to
13:35
themselves. Absolutely film.
13:37
I was just quickly add that I wrote up an article based off of
13:42
this, the report that Troy referenced, and it's called,
13:46
it's called Bitcoin versus the bank.
13:48
Which is better for the planet and so you can see that on my my
13:52
medium account which is linked on on my Twitter profile.
13:59
So yeah, so I basically just do a comparison using the numbers
14:04
from that report and you can decide based off of what I've
14:08
written, whether Bitcoin or the banks are better for the planet.
14:11
I know the choice that I made says that it's big boy, but, you
14:15
know, someone else might disagree.
14:18
Ali. And we're definitely going to
14:19
use that as Source material in the upcoming shows.
14:22
Thanks for letting us know. And, of course, we will put
14:24
jeans all his all her information where you can find
14:27
her, download link description. Anyways, Phil closing thoughts,
14:30
my friend. Yeah.
14:31
I think, I think you guys killed it with the comments.
14:34
I think that that was well-rounded.
14:36
The only thing that I can add is to quote, the gentleman in the
14:39
video. They're doing a lot of good.
14:42
Yeah. Just remember that.
14:44
Okay, everything's Justified because they're doing a lot of
14:47
good. Yeah, a POC receipt.
14:48
Astounding anyways, yeah, you eat bugs.
14:51
We'll go on fly private jets. But anyways, Phil it's time for
14:54
the daily fail brought to you by Swan.
14:57
Check them out. Swan Bitcoin.com.
15:01
It is a Bitcoin stacking platform by fellow plebs.
15:05
You've got automated Bitcoin savings plans, instant purchases
15:09
serving clients of any size. They've got an app that's coming
15:12
out soon. It's gonna be lit.
15:14
The link is down below. All right, it's gonna be a
15:16
little bit, the change of Gears from the from The climate change
15:19
and from the stuff that we're going to be getting into in the
15:21
news. Yeah, we are going to dive into.
15:24
We haven't looked at some some, some bsv fail in a while.
15:28
So I figured. Why not?
15:29
Why not? We're gonna, we're gonna enjoy
15:30
some pain here. Let's let's dive into some
15:32
paint. All right.
15:33
So for the people who hang out on Twitter and have sat in
15:37
spaces, you may have run into this gentleman.
15:39
Hector Lopez likes to join the Bitcoin spaces, but is a BS V,
15:44
ER, and likes to shill the bsv narrative and that's what we're
15:48
At today in this tweet. Let's take a look.
15:51
There are 1.2 billion people in Africa.
15:55
There is 350,000 available transactions on bitcoin BTC
16:00
right now per day. If everyone in Africa wanted to
16:04
buy one thing using BTC tomorrow, it will take over nine
16:07
years to process all of those transactions.
16:11
So I look, I am not the best at math.
16:14
Okay. I'm really not the best at math,
16:16
but I did some really simple math to figure.
16:18
Figure out seven transactions, per second, and we're at over
16:22
600 and 4800, which is completely irrelevant because
16:26
it's the base layer. Okay, the base layer was never
16:29
meant for your coffee and your Bubblegum and are garbage.
16:33
Okay, that that's, that's complete nonsense.
16:36
But anyway, so ha completely omits the lightning Network.
16:41
Okay, like, it doesn't even exist, but we're going to go
16:45
take a look at the lightning white paper for.
16:48
Well, actually the lightning Network website.
16:51
Okay, let's just take a look right here.
16:54
The scalability of lightning capable of millions to billions
16:57
of transactions. Per second across the network
17:00
capacity, blows away Legacy payment rails.
17:03
By many orders of magnitude attaching payment per action.
17:06
Click is now possible without custodians.
17:08
And keep in mind, this was written several years ago, B,
17:11
A.J. Drita and Joseph poon.
17:13
Who are you? Who you are going to see in a
17:16
second in a video with Craig, right.
17:19
This was one of the rare instances.
17:21
Okay. We're we're vitalic, actually
17:24
really pulled out a good move and it was, it was actually
17:28
pretty epic to see. But anyways, before we before we
17:30
dive into, before we dive into that video, Let's just quickly
17:34
continue on the lightning Network.
17:36
The lightning network is going to change how you think about
17:39
Bitcoin and this was written in 2021 Desiree, Dickerson who
17:42
we've had on this show. Okay.
17:44
She's the CEO of Thunder games like, but at the time she was at
17:47
Lightning Lad. And she was vice president of
17:49
operations. Who's Loki, genius background
17:52
includes a smattering of Endocrinology biophysics
17:55
genetics and helping the government launched, the
17:57
Affordable Care Act, which made her disenchanted with the
18:00
government. Interesting, setting up a
18:03
government setting up a government function made.
18:05
You disenchanted, who would have thought people say it's two
18:09
years out. It's really not their
18:11
applications where you don't have to.
18:12
Think about nodes. I use lightning every single
18:15
day. This was in 2021 people.
18:17
Okay, and the bsv. Ours are still telling you that
18:19
this doesn't work. Lightning currently has a
18:21
maximum throughput of 25 million transactions per second compared
18:28
with on chain, throughput of 7 transactions per second.
18:31
That's why I used the seven transactions per second to do my
18:34
math. I don't know what ha used and it
18:36
expects that to increase as the network grows.
18:39
She says that lightning Network settlement is instant instead of
18:43
taking 10 to 60 seconds on chain.
18:46
So you see the shit coin narrative.
18:48
Leaf falls apart when lightning comes into the picture.
18:52
Okay, and the other piece to this.
18:54
Okay. This is what the disingenuous
18:56
specifically, the bsv people. What they don't tell you.
19:00
Okay, what they do not tell you about bsv.
19:02
Okay, this is already back last year, last year alone, bsv was
19:07
attacked four times in July alone.
19:11
Imagine storing your value on this network.
19:14
Now, why, why would you store your value on this network?
19:18
You wouldn't. Why not?
19:20
Because it has no security and if you take a look, okay, this
19:25
is the bsv versus Bitcoin hash rate and you can see it here.
19:29
The all-time this tiny little red line that you can barely see
19:32
at the bottom of the screen. This is the bsv hash rate.
19:35
It is a complete zombie. Nobody is securing this shit
19:41
Fork. No one.
19:43
Okay, and you've got guys like him that come into the they come
19:46
in a Bitcoin spaces and they put out tweets.
19:48
The try to scam you into thinking that you need to be
19:51
buying this fake shit coin. Now, I'm going to end the I'm
19:55
going to end this rant with this this video right here.
19:58
Okay. This is I'm not going to show
20:00
the whole thing because a lot of the sound at the beginning is
20:02
kind of roughed up. So we just need to.
20:06
We just need to see the the signal piece.
20:08
Okay? The other people instead of The
20:29
Selfish minor earning a benefit, the owners minor.
20:33
Does that the paper ice cream, cone understand your
20:39
presentation? The rest of the audience, I
20:44
wrote the lightning paper, and I don't understand what you're
20:48
saying. Okay, that says it all.
20:52
So the whole point, right? The whole circling point that
20:55
I'm coming back to these, people are completely disingenuous with
20:59
their intentions, to get you to pay attention to this
21:02
ridiculous. Message of bsv is the real
21:06
Bitcoin. It is not the real Bitcoin.
21:08
It is a shit Fork of a shit Fork.
21:10
It is a fork of be cash, KB cache is a fork.
21:15
It's complete nonsense. And all they do is they use this
21:18
this ridiculous. You swear they choose a couple
21:21
of words out of the white paper and say, these words are Bitcoin
21:25
only and he is Satoshi. Look.
21:28
This guy's been called out multiple times.
21:31
We keep showing you over and over again how the network
21:33
cannot be secured and it gets attacked multiple times.
21:37
Okay. This thing is complete garbage.
21:39
Do not pay attention to that type of noise steer clear from
21:44
the scammers, like Hector who come into the Twitter spaces and
21:47
try to fool you into shit coin. That's my sermon.
21:51
Yeah, man, great job, you know, the csw is a fraud just want to
21:56
give a shout-out to which we don't, we don't see a lot of
21:59
things. We don't agree with a lot of his
22:02
methods, but shout out to Peter McCormack for putting up that
22:06
good fight, Hot or Not. Isn't that good fight, you know,
22:09
in terms of their, their in litigation with csw very
22:14
expensive, litigation might add, it looks like Peter McCormack is
22:19
almost out of It I know it cost him a lot of money.
22:22
I know hot or not. It's going to cost them a lot of
22:24
money. So I wish both of them the best
22:26
and at the end of this hopefully, you know, the world
22:29
could see that this guy's a fraud.
22:30
He's a dangerous fraud. He's hurting bitcoiners and you
22:34
know, eventually he's gonna get exposed.
22:36
The truth is going to come out, you know, unfortunately, he has
22:39
a large War chest because of Calvin Ivory or I don't know how
22:44
to pronounce his last name. So yeah, this guy is a threat to
22:48
bitcoin. He's an enemy of humanity.
22:49
Manatee because if your if your threats of Bitcoin, you're an
22:52
enemy of humanity, my eyes, so, you know, hopefully they could
22:56
win their their cases. So shout out, Peter McCormack,
22:59
and Shout out the space cat. Anyways, Gene.
23:03
And I say, right. Jen, Jen, Jen Jen.
23:08
What are your thoughts on this? Oh well, so my computer crashed
23:12
Montez. I lost a little bit of it, but
23:13
I'm back. And I mean bsv Craig.
23:20
It's a little bit of a joke, purposely ignoring the benefits
23:25
of player. Two applications is pretty
23:27
ridiculous. And I'm more likely to believe
23:30
that John Nash is Satoshi than Craig great.
23:33
To be honest. I most likely to believe that my
23:35
dog is so Cho she and Greg, right?
23:38
Your dog probably is more Satoshi than a dog is Satoshi.
23:43
Anyways, fumble, any closing thoughts, my friend.
23:47
Yeah. I mean it kind of wait links the
23:51
last segment in terms of like at this point in 2022.
23:56
The education is out there like the knowledge is out there.
23:59
How can you still play this game and plead ignorance to whether
24:05
Bitcoin as a purpose and therefore, you know, its energy
24:08
cost is beneficial or like, the, the development of of lightning,
24:14
which has been around for a long time.
24:17
You know, I think they seem to be To destroy their credibility
24:21
long-term clinging to these failed projects that are
24:27
extremely centralized. I don't even know how many nodes
24:31
bsv has for example, but I can imagine that probably in lying
24:35
one house, you know? Yeah.
24:37
Exactly, you know, and they you know, they taught at look the
24:40
hash rate does not lie. Okay, and and if you want to,
24:43
you know, look about how look the Bitcoin hash rate which I've
24:49
talked about many times, right? It not only represents network
24:53
security, right? Because it would theoretically,
24:56
you would have to essentially match or overcome the amount of
25:00
hash rate and hash rate represents the amount of
25:02
computational power backing up Bitcoin.
25:04
The amount of a six currently backing Bitcoin, right?
25:07
There's no way to know the actual hash rate has to be an
25:10
estimation of course, but it also it also signifies the
25:16
amount of capital that's being invested into Mining Bitcoin,
25:20
right? If you look at PSV, your if you
25:23
look at Bitcoin cash that number has been static.
25:25
That means that the real money people to have real money are
25:29
not looking into invest in infrastructure, that mind those
25:33
coins. Why?
25:34
Because they don't believe it has a future.
25:37
Look at how the publicly stated publicly traded Bitcoin.
25:40
Mining companies have done. Look at Riot, think it's up over
25:43
1000% and the last few years some crazy percentage, right?
25:47
And that signifies to me. Me, is that big money real money
25:52
have faith in the future of Bitcoin, unlike bsv.
25:57
Unlike Bitcoin cash. That being said, Phil it's time
25:59
for the daily meme, review brought to you, by Citadel 21.
26:04
They make the best Bitcoin culture Rosine.
26:06
It's pure pleb signal in here stories, Comics articles, by
26:12
actual bitcoiners. Every artwork is different,
26:15
every volume and they're scarce. There's only 1000, physical
26:18
copies made. Volume.
26:20
So get your print prints of Citadel 21 today.
26:25
All right, everybody. Welcome to the Bitcoin meme
26:28
review where we review, Bitcoin memes, memes play an essential
26:33
role in this narrative, trench warfare, that we experience
26:37
every single day in the Battlegrounds of the internet.
26:41
If, if tweets are bullets memes are artillery.
26:44
Anyways, let's check out this first mean by MF underscore
26:48
hottel. Bear markets, great bitcoiners
26:51
bitcoiners, create bull markets bull, markets grid.
26:54
Shit Corner Shakur's, great, very markets, and the CycleOps
26:59
Ali repeats itself. I completely agree, bear
27:01
markets, beat your shit coins, get crushed.
27:04
And you realize there are there really is one true king with
27:08
that. It creates a bull market and the
27:10
cycle repeats itself. Anyways, moving on, next mean by
27:14
a huddle us Central Bank blowing up the money supply be like
27:19
Central. Extruded did it inflation?
27:21
Ha ha ha very, very good meme. All right.
27:25
Move it on by my boss. We're getting here.
27:28
Look, Phil has absolutely been slaying it.
27:32
In my opinion. I called filled the Bic, the
27:34
shit coin, Slayer him and Cory clips and are going
27:37
head-to-head. They're going to have, you know,
27:40
a jungle or Mumble and the jungle, whatever The Rumble in
27:44
the Jungle one day. And then, hopefully we can put
27:47
him in a cage match and we could Decide who is the true?
27:51
Should coin Slayer, anyways? Copernicus, which is Phil's
27:54
alter ego and he is the Demon Slayer from that, from that
27:59
video game. I forgot what it's called.
28:00
Oh man. It's such a good video game.
28:02
Anyways, Avalanche, Cordon o, XR, P.
28:04
Anything on coinbase and Phil is slaying them and the name of the
28:08
game is Doom. I just remembered.
28:10
All right, moving on. This is Adam back.
28:12
He's back. And again, you know just
28:15
shitting on this, dude. This this was crazy.
28:19
Of italic was just, you know, Reminiscing on, you know, what
28:23
things he feels upset about and it just the central planning and
28:27
the hubris. And those tweets are absolutely
28:30
crazy. I really recommend reading that
28:31
thread, we don't have enough time to get to it.
28:34
But I am going to read, what Adam back says.
28:37
He says, as a sample of one Bitcoin, ER, identify with the
28:41
plebs and this is why we love Adam and systematically reject,
28:45
the confused Central planning of hubris field self-proclaimed
28:49
Elites. And I believe in bottom-up,
28:51
robust design basis, that work reject, the master architect
28:55
hypothesis, and and honestly, this hasn't worked and the last
29:00
hundred years, it always shows that the free market Millions
29:05
upon millions of people, making their own decisions on what's
29:08
best for them. Does much better than any
29:10
Central planning Elite like the world economic Forum.
29:13
Anyways, here is Adam back as a Terminator.
29:17
He's Bach know that I'm going to read it in.
29:19
And I'm going to do the German accent.
29:21
He's Bock. I'm a debauch.
29:23
Okay. Anyways, next 1 by Rd underscore
29:27
BTC and there's a lot of them. Okay.
29:29
I'm going to fight these no corners online.
29:31
Damn. They're regarded regarded.
29:35
There we go. Thank you.
29:37
Alright, next one. Bye.
29:38
Roth, mus. Dumb F juice.
29:41
People that think more regulations and taxes will fix
29:43
anything. It's so true, man.
29:45
Anyways, last one by brekkie. Shoutout.
29:49
Breaky from Swan Bitcoin, awesome company.
29:52
Anyways, it's check it out. When you take Financial advice
29:54
from rug pull, and real Vision. I gotta back it up.
29:59
Here we go. Anyways, awesome, awesome memes.
30:11
Wow, Phil bring it in the heat pick some awesome memes.
30:16
Shout out to the plebs because these memes would not be
30:19
possible without you guys for that.
30:21
I'm going to give it the sticker.
30:22
That comes with the colds card. The no shit code inside.
30:26
And if and this is matching The Branding from the old Intel
30:30
things. It would say Intel Inside says,
30:33
no shit coin inside. I thought it was clever.
30:34
Anyways, Phil. What would you give those memes?
30:40
I just I just remembered that there used to be a sticker.
30:42
That used to say, Intel Inside, idiot outside.
30:44
Anyways, I digress. And I am giving it my extra 3D
30:50
printed lightning. That's right.
30:54
Shut up to crypto, cloaks. He made these for me, and that's
30:57
right. That's what it deserves that
30:59
these deserve it. Very, very good score.
31:03
Anyways. Jean Jin Jin.
31:09
Ah, ha ha, why Jin? Okay, like like like, like the
31:15
alcohol gin. Okay.
31:17
Now, I know Jin. Like Jen.
31:19
Like I'm in and I'm so sorry. I have like, I'm like, say it
31:22
right? Say it, right?
31:23
Sarah. All right.
31:26
Gin. There we go.
31:27
I'm gonna get it right this time.
31:28
Jin. What would you give those memes?
31:34
Give it one of my pencil shavings?
31:36
Devices here. That looks like a box cutter.
31:39
It, it could be. I use it to sharpen pencils,
31:44
looks very dangerous. Yeah, that's resourceful and a
31:49
box cutter score. We've done those pencils are
31:53
really sharp. And that's for sure.
31:54
Anyways, fumble. What would you give?
31:56
Those awesome means I've got I've got this onion that's like
32:02
sprouting right now. So I'll give that a spray.
32:05
Routing onion, awesome. Very good scores for some
32:08
awesome memes. Guys.
32:09
We want to know, if you agree with our scores.
32:11
Do you like the means? Let us know, which one's your
32:14
favorite comment? Comment, comment down below.
32:16
It helps with the mysterious YouTube algorithm.
32:19
Of course, make sure to subscribe to us on alternative
32:21
video platforms like, Rumble.com and our personal favorite
32:24
Bitcoin tv.com. They don't censor their because
32:26
it's Bitcoin TV and join our telegram group.
32:29
It's a party of their you can link us some Bitcoin memes to
32:32
review so we can review them on the meme review, but anyways,
32:35
fill it. Time for the Daily News brought
32:38
to you by crypto cloaks.com. They make some of the best 3D
32:42
printed Bitcoin merch. Like the famous 3D printed
32:45
Bitcoin grenade. Toy comes in.
32:47
Any custom color? You'd like you want it in blue.
32:50
You can get it in blue, but you want you wanted a gold.
32:53
It also comes in Gold, you know that pisses Peter Schiff off
32:56
because that's the Bitcoin logo on it.
32:58
They also make really cool 3D printed Bitcoin stuff like the
33:02
3D printed Bitcoin, honey, badger, and you can't.
33:05
Take advantage of the promo code down below to get 5% off.
33:08
Anything off the crypto, cloaks.com online store.
33:12
Alright guys, welcome to the second part of the progressive
33:16
case for Bitcoin. We believe it's simply Bitcoin
33:19
that Bitcoin is all-inclusive. It's a political by Nature,
33:23
right? So we like to get everyone's
33:25
opinions from all sides. Remember Bitcoin means different
33:29
things to different people and I think that these types of
33:32
episodes are very important because of that.
33:35
So I'm going to first, start it out with this preface or I'm
33:38
going to read a little bit of of jinns.
33:43
There we go. I remember the alcohol, I said,
33:45
the name correctly Jin's article.
33:48
She wrote this for Bitcoin magazine.
33:50
The name of the article is progressives and Bitcoin are not
33:53
opposed. We believe in that.
33:55
Anyways, the article says, the reality is not that Bitcoin
33:58
needs to be rear-ended to remand it to fit a progressive
34:01
narrative. It is that bitcoiners and non
34:04
bitcoiners alike. Need to Realize that while the
34:07
Network's Genesis block was a political attack on the central
34:10
banking system that this sentiment is not exclusive to
34:13
American libertarianism. This is why progressives are in
34:17
the Bitcoin space because we know that Bitcoin is for
34:20
everyone and we're going to make sure that everyone not just
34:23
Libertarians know that there's a way to exit the system and that
34:27
Bitcoin could help us find that way.
34:29
I fundamentally agree. However, the troubling pattern
34:34
that I live at that. Picked up over the last couple
34:38
months and I would love to get your perspective.
34:40
Gin and fumble, right? Is that when you look at the
34:43
political support from the Fiat parties, what we've started to
34:49
notice is that there's clearly there's a clear partisan divide.
34:53
It looks like the left wing not only in Europe.
34:57
Also in the United States. Also in China, right, is
35:01
vehemently against Bitcoin, right?
35:04
But we agree in the, you know, in the Progressive sense.
35:06
That Bitcoin helps the under privileged Bitcoin helps the,
35:10
the underbanked, right? So let me go a little bit
35:13
through this, right? These are again, it's not black
35:15
and white, right but it there's a clear Trend, right?
35:18
The Elizabeth Warren Sherrod. Brown Sheldon, Whitehouse Bill
35:22
Cassidy. He's a republican Jeff Merkley.
35:25
All Democrats, except for one Republican on the pro.
35:28
Crypto Bitcoin shit coin Senators.
35:29
It's all Republican. We know Cynthia lummis.
35:32
We know Ted Cruz. We know Pat Toomey.
35:34
So it's a troubling development. Element.
35:36
But it's also not in the u.s. It's not also in the federal
35:39
government. The US, this is also in a state
35:41
level. And again, it's pushed by the
35:44
left wing. New York is the latest state to
35:46
consider Banning proof-of-work. Mining members of the New York
35:48
State Assembly environmental concern conservation committee
35:51
voted in favor of assembly bill, that establishes a member
35:55
turnerkn. Remember remember Terry?
35:57
Mm. Sorry, Phil.
35:58
Sorry, guys, you guys know, Nico can't read, but you could read
36:00
on the screen on cryptocurrency mining operations that use
36:03
proof-of-work. Asian methods to validate
36:07
blockchain transactions. Now, I used to have the
36:09
perspective that Jin has, right? Maybe they're just not educated
36:14
on the matter. However, after covering this,
36:17
for a couple of months and seeing the same thing happen
36:20
over and over again, we found a nail in the coffin, as we found
36:24
the Smoking Gun as why we believe that's not the case.
36:27
Anyways, moving on. It's not only in the United
36:30
States. This also happened in Europe,
36:33
right? A last-minute attempt by
36:34
European law. Is to potentially enact a
36:37
backdoor soft man on bitcoin filled on Monday and a closely
36:41
watched vote by followed by crypto enthusiasts, and guess
36:44
who this was pushed by conservative and free-market.
36:47
Liberals United to vote down the amendment 32:20, through and
36:50
favor, with 6ab stations, stymieing the efforts by the
36:56
social Democrats and the greens. Again, it's a left-wing party
37:00
pushing and going against Bitcoin.
37:03
Now the argument of course could have been I made hey, perhaps,
37:08
you know, these parties weren't educated on the matter.
37:11
Perhaps they really care about the environment but then we ran
37:14
into this article and it really, I don't know what other
37:19
conclusion you can come to other than these people are more
37:23
concerned about control. Let me make my case, right?
37:26
Name of the article is Bitcoin. Mining in Norway, gets the green
37:29
light as the proposed man rejected, right?
37:33
The proposed, the the proposal to ban.
37:35
Bitcoin mining in Norway, was first suggested in March.
37:38
This year, by the red Norway's Communist party.
37:42
In this week's vote. The Proposal was overturned, as
37:44
only Norway's left-leaning parties, including the Socialist
37:48
left party, the red party, and the green party would support a
37:52
ban on cryptocurrency mining. So left-wing parties in Norway,
37:56
left-wing parties in Europe, left-wing parties in the United
37:59
States. Left-wing.
38:00
Obviously China only has one party.
38:03
Now, here's the Smoking Gun. Quinn, Telegraph, previously
38:08
reported that Norway is a green Oasis for Bitcoin mining
38:12
boasting, abundant hydropower and low energy prices
38:16
particularly in the North. A hundred percent or almost 98
38:22
percent of the electricity generated in Norway is generated
38:28
by renewable energies. 100 percent of the energy used by
38:34
Bitcoin mining in Norway is by renewable energies.
38:42
So if it's not hurting the environment, why are they still
38:47
against it in the first place? So, it's only let us to believe.
38:52
And again, I'm biased because I come from Venezuela, right?
38:56
I come from a neck, socialist company country and I happen to
38:59
have the privilege to be able to migrate to the United States.
39:02
Right? I believe, it's because it's
39:04
something they cannot control. So really sucks.
39:09
I know that, of course, this doesn't represent all
39:12
left-wingers. It doesn't progress represent
39:14
all progressives, right? But you cannot deny that the
39:18
establishment. Circle left wing parties, have
39:22
it out for Bitcoin and that article from Norway pointing out
39:26
that 100% of Bitcoin. Mining is powered by Renewables,
39:32
makes you ask why are they still against it?
39:35
If it's not bad for the environment.
39:37
What's going on here? Jen?
39:39
What are your thoughts on this? Okay, so it has to be clear
39:43
about a few things here. First of all, the Democratic
39:45
party is not a left-wing party. The Democratic party is really a
39:49
Center corporate party. That is governed by a lot of
39:53
corporate money and much of the democratic party in the United
39:57
States is really about presenting an identity politics
40:01
framework and not really a class framework.
40:04
So for them, there are reasons to be opposed to bitcoin.
40:08
I think are different from what you will see in the European
40:11
Parliament and I'll touch on that in just a moment.
40:15
But in the United States, right, I think that A lot of the
40:21
concern over Bitcoin is around, energy usage and environmental
40:25
impact. And as we've discussed at the
40:27
beginning of this show. There's this is a major attack
40:31
Vector against Bitcoin. So in a way, these people are
40:35
also being played because they're only reading what they
40:40
what they see in the news in New York Times or whatever.
40:44
And so for them, this is like I care about the climate and
40:48
you're telling me that this is going to be Not the fun at this
40:50
is awful. It has to be stopped the other
40:52
thing. Now for people who identify as
40:56
some form of socialist, or somebody who cares about social
40:59
welfare or who is skeptical about markets is going to see
41:04
only the front face of Bitcoin, which is the training that
41:08
happens on the central exchanges.
41:10
So for them and all the shit coins that are surrounded that
41:14
Bitcoin is surrounded by and so for them what they're seeing is
41:19
is Nation, and for anyone who identifies, as anti-capitalist
41:25
it to any degree is going to be opposed to speculation because
41:30
for them and I think that we can generally agree.
41:32
The speculation is is very destabilizing even in a free
41:36
market, even if you're are for a free market, so if they're only
41:41
interaction with Bitcoin, is to see speculation, they're going
41:44
to be opposed to it and they're not going to find any value to
41:47
bitcoin. So I think That's why looking at
41:51
Norway and looking at in the European Parliament and seeing
41:53
the parties that are opposed to bitcoin.
41:56
Even if the energy sources are 100% renewable.
42:01
They will oppose it because they see it as a tool of the
42:05
capitalists and they see it as a tool of speculation which is
42:08
only destabilizing economic systems.
42:11
And that is why they will oppose it.
42:13
And this is why it's really an education thing and it's really
42:17
that for people who come from these back.
42:19
Rounds. You have to actually say, no.
42:22
It's not really about speculation.
42:24
There's something else going on with Bitcoin and then you really
42:27
have to drive home. The Narrative that Alex
42:30
gladstein is pushed through, check your financial privilege.
42:33
And that I think cuts across towards people who are on the
42:37
left because it get it points out that actually, Bitcoin can
42:43
help people, especially in situations where you're living
42:47
under a repressive government that Is stealing from the wealth
42:51
of the people. And so that is the narrative
42:54
that I think is missing in a lot of the discussion, especially in
42:58
the news. So if you only see the only two
43:01
things you see, when you read the news about Bitcoin is that
43:05
the bubble is bursting. Its tulip Mania and its melting
43:08
the planet. You have no incentive for the
43:10
last four people on the right or Republicans in the United
43:14
States. The immediate thought is like,
43:16
oh, this is great because it's taking the power away from The
43:20
central banks and I'm all for deregulating.
43:24
Let's deregulate those deregulate.
43:25
I mean part of that fits into the neoliberal narrative and so
43:29
for them like this is great. It makes it a little bit easier
43:33
for them to see the appeal of Bitcoin.
43:36
Although I don't I also don't believe that they necessarily
43:38
fully grasp the benefits of Bitcoin, but it's it easy a
43:42
little bit of an easier path for them to get into Bitcoin.
43:45
Now, there are some Democrats who do like So in general, like
43:51
Cory Booker, for example and row Kana, he's in the House of
43:55
Representatives Cory Booker's in the Senate.
43:58
So and there are there is like a congressional cryptocurrency
44:03
caucus that at least, I think half of the members are from the
44:06
Democratic party. So it's not exactly true that
44:09
there is a full divided across party lines in this case.
44:13
So I don't think it's necessarily that nefarious.
44:15
I think it's just that the narrative that needs to reach
44:18
this particular group. Is not as mainstream as it
44:21
should be. In terms of the content that is
44:24
produced around Bitcoin, beautiful answer and I really
44:28
appreciate your perspective. It's awesome to hear this
44:31
perspective and yet no I perhaps I should have emphasized it in a
44:37
little bit more. I did say it's not black and
44:39
white right? There are Republican Senators
44:42
that are posed to crypto and Bitcoin.
44:45
And there are Democratic senators and Congress woman in
44:48
Congress, men that Do support it.
44:50
But they're the trend is though is that the majority of senators
44:55
and congressmen and women that are against, it happens to be on
44:58
the left hand side and the ones that are for it happened to be
45:01
on the right hand side. Anyways before I get fumble and
45:05
and more of your thoughts, Jen. I wanted to get to a little bit
45:09
more parts of this awesome article that you wrote.
45:12
Again. The name of the article is
45:13
progressives and Bitcoin are not opposed and I also agree with
45:17
that. Anyways.
45:19
Have some highlighted Parts, Progressive is really an
45:23
umbrella term that lumps together.
45:24
Meant many left-leaning political ideologies, under a
45:28
set of Demands that we deemed to be inalienable rights of any
45:31
human. These are Education, Health
45:33
Care, and living, wage and housing.
45:36
Okay, Jin, how do you propose to do that without wealth
45:39
redistribution? How do I propose to that without
45:45
bail? Freedom.
45:46
So if progressives right deemed to have inalienable rights of
45:52
any human, and those inalienable rights are education Healthcare,
45:56
a living wage and housing, how specifically education and
46:00
health care. How do you propose to implement
46:03
that without some sort of some form of wealth redistribution?
46:07
For example, in Europe, the way that they are able to fund?
46:11
For example, a lot of Europeans have large.
46:13
Social welfare programs, right? Like, you know, free healthcare,
46:18
but it's actually funded through taxes or, you know, free
46:21
education. Also funded through taxes
46:24
Bitcoin, makes wealth redistribution, very, very
46:27
difficult. So perhaps, you can convince
46:30
half of society to go along with and, you know, go a long with
46:33
the taxes to fund those programs, but there's going to
46:37
be a big portion of society with the benefits of Bitcoin that
46:41
are, just not going to go along with it.
46:43
So, How how does that work? So I would first argue that we
46:47
already have wealth redistribution in this society
46:51
and we can look at it in a couple of ways one.
46:53
We can look at it, from the perspective of rent-seeking.
46:56
We can look at it from the perspective of that and we can
46:58
look at it from what the Federal Reserve has done with
47:01
quantitative easing by inflating assets, which the majority of
47:05
Americans don't hold. Right.
47:07
So if your most of your labor and the payment that you receive
47:11
from your work comes from actually engaging in - efforts
47:14
in society, like by creating things or working, you know, in
47:20
services or exchanging goods like that, that doesn't accrue
47:25
interest. But if you're somebody who makes
47:28
money just by holding someone else's debt, or being a landlord
47:33
or whatever. Then that's, you know, that's
47:37
that's a form of distribution of wealth in a way that is actually
47:43
Lysing to society. And we see that in particular
47:46
through financialization, which is happened.
47:48
Actually, since we came off the Bretton Woods, right?
47:51
We have seen an increase in financialization, where Finance
47:55
has become a greater part of our national income or a GDP.
48:01
And that can only happen through increasing interest, right?
48:05
And then inflation ends up coming into this, right?
48:09
As a sort of a silent tax. And if you look at it, I was
48:11
just looking at this actually today.
48:13
A totally unrelated to the conversation but the the bottom
48:18
income earners in the United States in 2021 had felt the
48:22
worst effects of inflation because their wages did not
48:25
increase fast enough, even though they did increase, they
48:28
started from a farther. They started below way below in
48:33
terms of their wages. So that increase really wasn't
48:36
even enough to sustain in comparison to inflation.
48:39
Whereas, if you made a hundred thousand dollars a year, or more
48:43
you're doing, Okay, because inflation is in energy, is a
48:47
smaller portion of your total income.
48:49
Right? So, this is all a redistribution
48:53
of wealth as it is. So we have an unfair system that
48:59
has very bad incentives. And we talked about this in
49:02
Bitcoin a lot, like bad Fiat incentives and, and they harm
49:06
people. So, in a way switching to a
49:09
different monetary system is actually a redistribution of
49:11
wealth in a Right Way, in a way that is not as coercive.
49:17
So I think that it can happen but you have to change the way
49:21
the monetary system works and it doesn't necessarily have to be
49:24
through taxes. And then the other thing is that
49:26
you also don't necessarily need a central government to provide
49:31
these things for you. Okay, you can do that within
49:33
your own Community, through, mutual Association, or through
49:37
mutual Aid. And I think that people have
49:39
forgotten this little bit that you don't have to expect.
49:43
Fact, the government to do all these things, but at the same
49:46
time, the government has to allow you to have the power to
49:51
make these choices within your own community.
49:53
And so what I would argue is like you could have many
49:56
societies, let them do what they what they deem is best for them.
50:01
Let's decentralize that power and the ones that I think
50:04
provide the best in terms of well-being are the ones that
50:08
most people are going to want to participate in and Bitcoin.
50:11
I think is just one way to get us out of this.
50:13
Horrible system and into another one because it deflationary
50:17
currency is an opposition to that, right?
50:20
Yeah, no. Reasonable person will want to
50:22
engage in alone with 10% interest knowing that you can
50:27
easily calculate what, you know, what?
50:29
Your purchase power will be with that money later on, right?
50:32
It would be very hard to pay that back.
50:34
So I think that we have to kind of re frame The Narrative around
50:38
this, in terms of what is well, what is the distribution of
50:41
wealth and and how the existing? System actually distributes well
50:45
in an in a very unfair way. Absolutely.
50:48
And wow, we have, we and this is what I've always said.
50:52
And Phil, we've always said this right is that we have a lot in
50:54
common and at the end of the day, I think a lot of the
50:58
conflict comes from the fact that this money is stealing from
51:02
you, inflation is stealing from you and you're absolutely right.
51:06
It inflation is catastrophic to the lower and middle classes
51:10
that don't have. The means to benefit from asset
51:13
inflation. Don't have the means to save and
51:15
equities or the stutter or stock.
51:17
They make their money in cash and they save in cash and then
51:20
they get completely stolen in clash.
51:23
And it's, you're absolutely right.
51:24
It's a wealth redistribution from the lower middle classes
51:27
back to the top 1% and back to the government.
51:30
So 100% so fumble, what are your thoughts on?
51:35
And and I'm going to kind of pass you on something that Jin.
51:38
Said, Do You Believe In coercive?
51:41
Well, through distribution. Do you believe in?
51:43
Some type of redistribution that needs some type of coercion in
51:47
order to fund some type of, you know, Medicare for all or
51:52
education for all. What are your thoughts on that?
51:54
Fumble? No, I don't.
51:56
Absolutely. No, I well work speak for this
52:00
speak for Jen but I would say that we're alone both lean more
52:04
anarchists then statist as I mean, I think Jin nailed, nailed
52:10
it with what she's just saying, you know, I think that When
52:14
things are kind of redrawn to bitcoin kind of cards out a
52:18
world in which we can make our decisions and organize some and
52:23
more voluntary basis, who can carve out those things and
52:26
often. It's the state that actually
52:27
gets in the way. So, you know, I sometimes see in
52:31
the examples in America of, you know, people that get punished
52:34
for collecting rainwater or, you know, like people made an
52:39
initiative to build some build some little Shacks.
52:43
Like a nice wooden homes for homeless people and then the
52:47
state comes in and destroys it. I find that actually, the state
52:51
is the one, the the force that makes these things difficult and
52:57
fosters a dependence, so that we're always looking to that
53:00
Central Point. So no, I don't, I don't think we
53:03
need that kind of coercion and and on the redistribution from
53:08
like again, Ginger nailed it like I see the state as
53:12
redistributing. Poor to rich and from the
53:15
taxpayer to private hands, you know, so I think I have a faith
53:21
in humanity that most people are good.
53:26
And yeah, you get some bad apples.
53:28
I think generally like there's there's a sickness in society
53:30
partly from from from fear and in my opinion party from
53:34
capitalism and and a lot of the kind of pressures that are on
53:37
society and I'd like to think that if we have, if everyone has
53:41
a more solid base, Then we can form those networks.
53:45
Those communities and we can, you know, really, you know, if
53:50
we want it. I'm sure voluntarily everyone
53:53
would want to make sure that we don't have people dying on the
53:55
street because they don't have a basic, you know, Healthcare
53:59
something. Yeah, it was.
54:01
So, so one last thing and I know this is a big, big aspect of the
54:07
political layer is the the aspect of wealth inequality,
54:11
right? How do you propose to level that
54:16
playing field without coercion, without some type of tax scheme
54:21
to take from one group? Take it from the productive
54:23
class and give it to, you know, the less fortunate and what not.
54:28
How do you put, how do you propose we do that without some
54:31
type of coercion without some type of state in order to
54:35
enforce that. I think these are very difficult
54:39
questions to answer at least in a very short form because
54:45
they're this can happen one or two ways, right?
54:48
It could happen in a gradual way, in a transition from one
54:51
Society or one system into a different system.
54:54
Or it could have been in a very abrupt way in which you
54:57
effectively have an economic collapse and you're forced
55:00
ultimately to rebuild from these ashes and and in that sense you
55:05
kind of start from a clean slate.
55:09
But it's a tumultuous and it will be very painful one.
55:13
And I think that the latter is more likely right now because I
55:16
don't see our government actually changing trajectory or
55:21
having the ability to do that. If that if they could they would
55:25
certainly have to be some types of reforms.
55:28
I think and changes in the way that money works and there's
55:32
there's some ideas around that. I think ultimately switching at
55:37
least Towards Bitcoin would be useful because a city for
55:43
example, could acquire Bitcoin Miners and they could use those
55:48
Transit transaction fees to invest into their Community into
55:52
public works. And that I think is very
55:55
empowered powering and a very unusual thing that doesn't come
56:00
around too often that sort of sort of effectively, I mean, You
56:06
can think of the transaction fee almost like attacks on using the
56:10
network, right? I mean you the the fees that we
56:14
pay when I sent, you know, when I send something to Fumble, you
56:17
know, I sent him a few SATs, right?
56:19
I mean those fees, then go towards the people who are
56:22
mining and they're mining. They're serving a purpose.
56:26
They get the blocks of City because they're securing the
56:28
network and the preventing, the double spend, and excetera Etc.
56:31
Right? So in a way, it's like a toll,
56:33
I'm paying a toll to use the road.
56:35
Okay, that's fine. I agree to it.
56:37
I said I agreed this this makes sense, but I could benefit from
56:41
that too. If I'm also Mining and then I
56:43
can use that to the benefit of my community.
56:47
So I think that's one way, that's one possibility with
56:51
Bitcoin to do that. I just don't, I don't see.
56:54
Government's wanting to let go of the power to let things like
56:58
that happen too easily. I think that's the issue.
57:01
Is that governments are have consolidate power so much and
57:05
have such of a monopoly on violence that they're not going
57:09
to be very willing to let much of that go.
57:11
I mean you can see what they did to Ross and and to into Julian
57:17
Assange and Chelsea Manning for for stepping up and showing the
57:22
truths of government. So this is this is the reality
57:27
is I don't think any of this will come very easily.
57:32
Progressives. They look towards government.
57:36
They see it's there. They see the power that exists
57:39
there and they think well, there's so much power to change
57:43
things there if I could only reform it so that it would
57:46
benefit people and minimize this inequality.
57:50
Then that power could be used for good.
57:53
But the problem is, is that this power switches between players,
57:57
right? Every four years.
58:00
And then on top of that like, there's so much money in
58:02
politics now, especially after the Citizens united.
58:06
That is it's really hard. It's really hard for people to
58:09
actually get milk, any good out of the system.
58:12
So I think progressives have to realize that maybe you need to
58:16
just completely change the system.
58:19
And I see that a lot in with, with the climate movement.
58:22
A lot of climate activists are starting to realize that and
58:25
they're like, you know, we just need a full system change.
58:27
They just don't yet fully grasp. What that means is that it's
58:31
actually you have to start at the economic level or the
58:33
monetary. Level, of course, you fix the
58:36
money fix the world and what you said was so true.
58:39
And look, I fundamentally believe this.
58:42
I think that the left, the way that the left views.
58:46
The world is a whole lot better than the way that the right
58:50
views the world. The the right though is a little
58:52
bit more based in, you know, tangible reality in the left is
58:57
like a more idealistic and, you know, that that's and that's
59:02
where the Clash happens, right? And look.
59:04
If you look at communism, just the idea of Communism on paper.
59:08
It's beautiful, right. The problem is that you need
59:11
someone to enforce that equality and that usually, you know,
59:15
requires coercion, that usually requires violence that usually
59:18
requires guns, right? That's why it doesn't work.
59:21
And you guys are absolutely right.
59:23
Capitalism is not a perfect system.
59:25
It, I just happen to believe that it's the best system that
59:28
we do have. And hopefully, Bitcoin fixes,
59:32
the crony, capitalism aspect of Of it that hurts everybody,
59:36
right? And hopefully that's where it
59:38
goes. But anyway, we're running out of
59:40
time field. You have any closing, thoughts,
59:42
my friend before you move on? Yeah, just quickly.
59:44
I wanted to go back to a point. The gin made about the other
59:47
miners. The miners transaction fees.
59:50
I thought that was a very good point, right?
59:51
We pay these fees for a specific quality of service and for
59:56
transaction finality, right? Like we end up paying we end up
59:59
paying fees when we do the transactions on the Bitcoin
1:00:01
Network and that helps ensure that our Transaction ends up in
1:00:05
the next block and that we get the transaction finality, which
1:00:08
is interesting because the government interestingly enough,
1:00:11
if you've ever gone through multiple government services,
1:00:15
okay, and I am from Canada. So I have gone through the
1:00:17
Healthcare System both in America and Canada and I can
1:00:20
tell you that, there's a serious lack of quality of service, you
1:00:25
are paying a fee but you are not getting what you are paying for
1:00:29
and that's kind of part of the problem.
1:00:31
So I do agree that yes in the Bitcoin space, we are closed.
1:00:34
Unquote, paying that tax, but we're actually getting what we
1:00:36
pay for it. Whereas in the real world.
1:00:38
We are paying way more than our fair share and we are not
1:00:42
getting the value for it. Anyways, just my phone.
1:00:44
Absolutely. I'll wrap it all on that.
1:00:47
Hope you guys enjoyed the episode.
1:00:48
This is part 2 of the progressive case.
1:00:51
For Bitcoin. We're going to do a series where
1:00:53
to get more and more progressives on the show.
1:00:55
Ask them some questions, Riff on this a little bit.
1:00:58
But anyways, feel there was an open source software released.
1:01:01
Today, want you to everybody about it software releases.
1:01:04
Brought to you by Cipher safe. Check them out.
1:01:06
Cipher safe dot IO don't store your seed on paper.
1:01:11
That's way too risky. Even two or three papers.
1:01:14
It's not enough store your seed in the Cipher wheel or the all
1:01:18
new Cipher grid. They both come with a
1:01:20
tamper-resistant wire and the grid comes with a punch tool.
1:01:24
All right, we've got the Bitcoin seed, tool version 1.0 0.5 that
1:01:30
was released its Down Below in the show notes, guys, don't
1:01:34
forget. Forget to check us out.
1:01:35
On our Audio. Only platforms Apple podcasts
1:01:38
Spotify and anchor. If you want to stream a SATs.
1:01:41
Check us out on Fountain. Dot f m--.
1:01:43
You could stream a SATs through Breeze.
1:01:45
Also, thank you for all right, guys, before we going to do
1:01:47
very, very special shout-out to our clothing.
1:01:49
Sponsor represent LTD.com., I'm wearing the black camo hoodie,
1:01:54
Phil's wearing the gray hoodie. They also have Bitcoin merch and
1:01:58
they're coming out with simply Bitcoin merch, and very soon.
1:02:02
You can take advantage of the promo code.
1:02:04
Below to get 10% off. Anything off the represent
1:02:07
LTD.com store apps, want to give a very special shout-out to our
1:02:12
awesome gassy and go give of Margo a follow her.
1:02:16
Twitter is at Jin underscore or so, you'll find her medium
1:02:21
articles there. And of course fellow pleb at
1:02:26
fumble BTC. Shout out to these guys.
1:02:29
I love having like I said, Bitcoin is a political.
1:02:32
It's for everybody. Love having progressives on the
1:02:36
show, giving them their perspective.
1:02:38
This is a peaceful Revolution and it includes everybody.
1:02:42
But anyways, guys, I was our show, if you enjoyed the show
1:02:44
you what to do. Smashed.
1:02:46
Of course, you're going to continue here in the Bitcoin.
1:02:48
Use from the Polly Platt perspective in the catastrophic.
1:02:50
Fails. Definitely consider subscribing
1:02:53
to Simply Bitcoin will see you tomorrow guys, for any episode.
1:02:56
Absolute power, corrupts. Absolutely Bitcoin, fixes this,