Latest / Simply Bitcoin / Why Did Bitcoin DUMP And What Comes NEXT!! | EP 1302

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Why Did Bitcoin DUMP And What Comes NEXT!! | EP 1302 · Simply Bitcoin

• 0:00
  Wait. Wait, hold on, hold on.
• 0:04
  We're live, are we? Totally live all right guys.
• 0:08
  Bitcoin dumped more than 9% over the weekend from its all time
• 0:11
  high. We went to this guy.
• 0:15
  All right, all right, all right here, we'll do it again.
• 0:17
  What? All right, we're nuke today.
• 0:19
  All right, Bitcoin dumped more than 9% over the weekend from
• 0:22
  its all time high and most of us, including us here, well
• 0:26
  maybe not all of us here thought it was ready to RIP to 150K.
• 0:30
  But the crazy thing is at the same time, MicroStrategy and
• 0:33
  it's copycats just bought $2.5 billion of Bitcoin last week,
• 0:39
  which is leading everyone to wonder why is the price not
• 0:42
  mooning? Is the bull run over or this is
• 0:46
  going to be the bullish take of this guys?
• 0:48
  Or is Bitcoin gearing up for the most bullish quarters in its
• 0:51
  history? When we dive into the history of
• 0:54
  Bitcoin, you might just be surprised.
• 0:57
  Again, I've been saying it for a couple of months here on the
• 1:00
  show. Did they say we crash?
• 1:03
  Are we still alive? Yeah, it looks like we're still
• 1:06
  here. It looks like we're still here.
• 1:09
  Guys, let me let us know in the chat.
• 1:11
  Are we still? Yeah, OK.
• 1:13
  They're laughing at us. We're totally alive.
• 1:14
  Nico. Nico freaking got me all all off
• 1:17
  cater today. It was Restream.
• 1:19
  That's right. All right.
• 1:20
  Anyways, anyways, let's get into it, guys.
• 1:21
  I've been saying for a minute, I think the end of this year is
• 1:25
  going to set up super bullish. But before I get into that, of
• 1:29
  course I'm sure you guys saw over the weekend Friday, Bitcoin
• 1:33
  dumped, we got to a low of about 111 K.
• 1:38
  It really kind of rebounded around 1:12 and then today we
• 1:41
  kick back up to around 115 K roughly.
• 1:44
  Right now. I think I'd last, last I saw
• 1:46
  before I went live was like 114.7.
• 1:50
  So it seems to be rebounding strong.
• 1:52
  But of course, as as is always, as is usual here, when Bitcoin
• 1:57
  dumps, you start to get, you know, the sky is falling, it's
• 2:00
  over. I think we still all have PTSD
• 2:02
  considering the 2021 bull market got cut short.
• 2:06
  The double top meme is still alive and here's some headlines
• 2:09
  from over the weekend. Bitcoin holders bleed as Binance
• 2:12
  daily inflows near 7000 Bitcoin Just going to read the kind of
• 2:16
  key points Bitcoin speculators. I guess that's us joins Wales in
• 2:20
  sending Bitcoin to exchanges and the price then dipped below 112
• 2:24
  again. I think I saw 111.4 as the
• 2:28
  lowest it got. An analyst wants warns that
• 2:32
  continued whale selling could spark a deeper, longer Bitcoin
• 2:35
  price correction. Exchange order book activity
• 2:38
  shows large scale market exiting, but Bitcoin is
• 2:40
  attempting to reclaim 114. This was a couple days ago.
• 2:43
  It did reclaim it. And of course, as we had
• 2:46
  probably one of the most bearish weeks in terms of Bitcoin being
• 2:50
  sold on the exchanges again, hundreds of thousands of coins
• 2:53
  were hitting the exchanges last week.
• 2:55
  The Bitcoin price coming back to around 115K, I think it's
• 2:59
  really, really strong signal that this, this run isn't over.
• 3:02
  I, I would argue that this run hasn't even started and I'll
• 3:05
  make my case for that in a minute.
• 3:07
  But before we go on to that, we even got Arthur Hayes, who has
• 3:10
  been historically bullish the last couple of months, starting
• 3:14
  to get bearish. So I, I think him and Nico have
• 3:16
  been communicating lately because, you know, Nico is the
• 3:18
  perma bear here, but bearish. Arthur Hayes says Bitcoin could
• 3:22
  retrace to 100K on macro headwinds.
• 3:26
  Let's kind of just read over what these macro headwinds are.
• 3:29
  Hayes linked the recent crypto pull back to renewed tariff
• 3:32
  fears sparked by the disappointing non farm payrolls
• 3:35
  report, which showed just 73,000 new jobs added in the US in
• 3:39
  July, a sign of economic fragility.
• 3:42
  And then of course, Hayes also pointed to sluggish credit
• 3:45
  growth in major economy, stunting nominal gross domestic
• 3:48
  product growth in warning that Bitcoin could fall towards 100K
• 3:54
  again. It kind of held up pretty good
• 3:56
  and and you know, the consideration of everything it
• 4:00
  it kind of held up good considering there was hundreds
• 4:02
  of thousands of coins hitting the exchange last week.
• 4:04
  We saw a lot of old dormant wallet start to open up and
• 4:08
  move, which really kind of got the rumor mills going of the
• 4:12
  consideration of how many quote bit loss Bitcoin are there
• 4:15
  really? I know the old debates of, hey,
• 4:18
  we should we should, you know, change the code so that we can
• 4:21
  scoop up all this old bitcoins because, you know, no one's
• 4:25
  using all that lost Bitcoin needs to get recirculated.
• 4:28
  I think now that meme has kind of full thoroughly been
• 4:31
  destroyed and and we can just say there's some there's some OG
• 4:34
  holders out there that been holding this stuff for a long
• 4:36
  time. Those coins are probably not
• 4:38
  lost, which is going to be very interesting moving forward
• 4:42
  considering whether there's actually, you know, the, the
• 4:44
  common kind of ideas, there's like 4 or 5 million Bitcoin that
• 4:47
  are lost now. I, I don't think we can even say
• 4:50
  that anymore. It's, it's starting to look like
• 4:52
  people have just been holding it for that long.
• 4:54
  There's obviously a lot of lost coin, but maybe all of our
• 4:57
  estimates of how much coin is lost is really overshooting it
• 5:01
  anyways. At the same time, this is where
• 5:04
  it starts to get really crazy. I know everyone was watching
• 5:07
  over the weekend. We got a bullish report coming
• 5:09
  out of the White House. We're we're getting all kinds of
• 5:12
  turnarounds coming out of the SEC and we are start, we're
• 5:15
  seeing literally unprecedented buys coming from these corporate
• 5:19
  treasury companies, not just MicroStrategy or Metaplanet.
• 5:23
  There's actually been a huge. So Metaplanet buys $54 million
• 5:27
  worth of Bitcoin, maintaining their 7th place globally with
• 5:29
  17,595 Bitcoin. And then of course, Sailor just
• 5:34
  bought up more Bitcoin. He announced a $2.4 billion buy,
• 5:37
  I believe it was like Tuesday or Wednesday.
• 5:40
  And then by Thursday, Thursday night, he announced another 4
• 5:43
  point something billion dollar buy.
• 5:45
  So he is scooping up coins. Of course, all that capital
• 5:49
  hasn't really fully hit the market.
• 5:51
  But looking over at Bitcoin treasuries, of course strategy
• 5:53
  now holds 628,791 coins. And there was actually a good
• 5:58
  clip. I don't know if we want to play
• 5:59
  it or have enough time to play it, but he was asked on, I
• 6:03
  believe his squawk box, but are you trying to own all of the
• 6:07
  Bitcoin? And he finally came around to
• 6:09
  saying like, no, there's no value in one entity owning all
• 6:12
  the Bitcoin, which is something all of us, excuse me, Bitcoiners
• 6:15
  have been saying for a long time.
• 6:17
  As you can see, Metaplanet still buying.
• 6:19
  They're currently in 7th place. And you know, Coinbase is
• 6:22
  finally, finally coming to the game and starting their own or
• 6:26
  continuing their Bitcoin treasury strategy.
• 6:29
  They they bought a couple, I think it was a couple thousand
• 6:31
  over the weekend. So you can see, you know, the
• 6:33
  games, the game's getting crazy and Jack Mall is 21 capital.
• 6:36
  They're coming in strong jump to the third place with 43,000.
• 6:40
  ANYWAYS, that's that's you know, we we've been watching the
• 6:42
  Bitcoin treasury strategies play out.
• 6:45
  They're seemingly supposedly scooping up a lot of Bitcoin.
• 6:48
  But this news right here shouts out the Bitcoin archive.
• 6:52
  Public companies bought over $2.5 billion a Bitcoin last
• 6:56
  week. Of course everyone wants to
• 6:58
  catch Sailor. You can see here the weekly net
• 7:01
  inflow was $2.56 billion. The weekly Bitcoin net inflow
• 7:05
  was 21,895.98 Bitcoin. But of course, that really is
• 7:11
  only a dent when you consider that there was literally, you
• 7:15
  know, one $80,000 sale of Bitcoin last week and then there
• 7:19
  was multiple old wallet opening up.
• 7:22
  And I think the math that we had, it was like 107,000 Bitcoin
• 7:26
  that hit the exchanges last week.
• 7:29
  So I, I think it's very simple. I know there's still the
• 7:32
  conversation of paper Bitcoin is the price being suppressed.
• 7:36
  I always, you know, Occam's razor, this, they're just,
• 7:39
  there's a lot of Bitcoin being sold right now.
• 7:41
  But in the face of everything going on, Bitcoin holding on at
• 7:44
  around 1:15, I think it's super, super bullish.
• 7:48
  And before I get into my bullish takes on why I think this is
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  going to end up and be an incredibly bullish end of the
• 7:55
  year, Nico, let's pass it to you.
• 7:58
  What what's your initial thoughts when you saw the price
• 8:01
  dumb. You know, what's what's your
• 8:02
  ideas is Arthur Wright And then take into account all of the
• 8:06
  Bitcoin that is supposedly again, I'm I'm doing air quotes
• 8:09
  here, supposedly being bought by these Bitcoin treasury
• 8:11
  companies. What's your vibe here as the
• 8:13
  reigning perma bear on the show? What, what is your, your gut
• 8:17
  telling you right now before, before I make my my bullish
• 8:20
  case? Yeah, I mean, my gut is telling
• 8:23
  me that dude, like, you know, we're supposedly in a quote UN
• 8:28
  quote bull market, but I haven't seen it yet.
• 8:32
  I haven't seen this bull market. Like we've we've been
• 8:34
  essentially going sideways for the past year or so.
• 8:39
  And you know, we started the year at 109,000 with on Trump's
• 8:43
  inauguration day, we're at 115,000.
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  We dipped to 75,000 in the middle of the year.
• 8:50
  Now we're back up, but this isn't a bull market.
• 8:54
  I think I saw British Huddle say it initially where he was like,
• 8:57
  look, guys, like we're not in a bull market right now.
• 9:00
  And I would agree with him. We're not in a bull market.
• 9:04
  This doesn't feel like a bull market.
• 9:05
  I think we're gonna have a great end of the year.
• 9:09
  That's what my, my Spidey senses are telling me just based on
• 9:13
  Bitcoin's historical patterns. But I, I would say that this,
• 9:17
  this year has, has been underwhelming so far.
• 9:20
  Bitcoin is still up. I think it's up like 1020% on
• 9:24
  the year, which is fantastic just in general terms, but in
• 9:28
  Bitcoin terms, it's been a little bit lackluster.
• 9:31
  But I, but I, here's the silver lining that I will say though,
• 9:35
  too is, and I think the more we consolidate at these prices, the
• 9:39
  bigger, the bigger the base when we inevitably start to go up.
• 9:45
  So I think it is a good thing, but I just think that it's just
• 9:50
  going to take a while. And I also think that the
• 9:52
  institutions coming in change the dynamic of how these bull
• 9:56
  market bull markets operate. They're, they're, they're acting
• 10:01
  very, very differently than to what they normally do.
• 10:05
  And I think that's all that's something to keep in mind as we
• 10:08
  go forward. Anyways, Opti, what's your take
• 10:10
  on? All this, Yeah, yeah, No, I, I
• 10:12
  think you're right though. Look at our our boy Utx over
• 10:15
  here on Rumble. He says.
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  We've been essentially going sideways for the last two years.
• 10:20
  Up 400% is basically the same as 0 it.
• 10:24
  Looks like we're. All on the same page here and
• 10:27
  also Nico I I, we didn't cover it as news, but there was a
• 10:31
  rumor of China banning Bitcoin again and I think that's what
• 10:35
  everyone was saying that dropped the Bitcoin price, though it
• 10:38
  does look like it's losing its flavor.
• 10:39
  It's losing it's losing its effect now, if it's true,
• 10:42
  though, from what I saw guys, they they didn't actually usher
• 10:47
  in a new ban. I think it was the same 1 from
• 10:49
  2021. So I, I don't think that we can
• 10:52
  kind of connect that to why the price dumped, but we we did see
• 10:56
  a dump over the weekend. You know so either way, buying
• 10:59
  opportunity for everyone here. If you like Bitcoin at 123 K you
• 11:02
  love it at 113 K and 111 K. It seems like the dip got bought
• 11:06
  up anyways, I did say I was going to make a bullish case
• 11:10
  here first one is kind of me trolling.
• 11:12
  I'm not going to lie. This first one is kind of a, but
• 11:15
  this is my first point here and we've been saying this on the
• 11:17
  show for a minute, but we got Jim Cramer.
• 11:20
  He literally actually maybe he's the one to blame because he did
• 11:24
  endorse Bitcoin last week and then the price dump.
• 11:26
  So inverse Kramer, just completely undefeated.
• 11:30
  Anytime he says anything favorable about anything, it's
• 11:34
  going to dump. But we got we got a we got a
• 11:37
  little a little saving grace here.
• 11:38
  He tweeted over this was what Friday afternoon, Friday night,
• 11:43
  Jim Cramer, which is what we tell you guys, remember the meme
• 11:45
  of selling May and go away. I was joking that the summer
• 11:49
  months are bad because all of the investment hedge fund guys,
• 11:53
  the bankers are over in Saint Barts on their yachts chilling.
• 11:56
  They're hanging out with their family.
• 11:57
  Well, Jim Cramer is doubling down.
• 11:59
  So you know what this is telling me it's going to rebound
• 12:02
  bitcoins going to rebound strong.
• 12:03
  And anyways, he tweets, I always despise both August and
• 12:05
  September. Just tough months to make money.
• 12:08
  You know what I'm hearing? I'm hearing Bitcoin is going to
• 12:10
  RIP. So inverse Kramer in effect on
• 12:13
  the opposite way. It's going to be a bullish
• 12:15
  August just cause Kramer said it was going to be a bad August.
• 12:19
  Though I am kind of trolling that.
• 12:20
  That is kind of a troll. Anyways, what I really want to
• 12:23
  show you guys here today is the monthly returns on Bitcoin,
• 12:27
  historical monthly returns. Here you guys can see Bitcoin
• 12:30
  monthly returns and there is kind of a pattern here.
• 12:34
  Of course we've been talking about this for a few for you I
• 12:37
  guess years now shouts out to American Hotto.
• 12:39
  You know 3 red, 1 green Well, we are in the supposed green year
• 12:43
  and so if you kind of look at this here we do you can kind of
• 12:47
  see a very similar dynamic play out.
• 12:50
  You know, we have the first green here and then three red 1
• 12:54
  green and then we got 2 Reds with one green, 1 green, three
• 12:58
  Reds. And of course, we're starting
• 12:59
  off August not so well, but just imagine that this August month
• 13:03
  is going going to end up green and we have a super bullish set
• 13:07
  up for the end of the year. So historically, when we have a
• 13:10
  good July, then August also pumps.
• 13:14
  We've seen this play out multiple times.
• 13:16
  Actually almost every time except for last year that we saw
• 13:20
  every time we have a green July, a bullish July, we have a
• 13:24
  bullish August and there's only one break in that pattern, which
• 13:27
  was in 2024. This this update here.
• 13:30
  This is on coin glass is obviously the first 3-4 days of
• 13:33
  the month. So we don't have that to really
• 13:36
  hang our hat on. But looking further out, if you
• 13:39
  guys check this out, historically October, November
• 13:43
  is the most bullish time in Bitcoin.
• 13:46
  So it looks like we're going to be set up for a great Q4.
• 13:50
  Maybe that's not what you want to hear here today.
• 13:53
  You're just like I, I want this to RIP to 150.
• 13:55
  I was promised 150K. Are we going to 200 K plus?
• 13:59
  It looks like we might. This is this is my optimistic
• 14:03
  take on where we are right now. It looks like we are going to be
• 14:06
  set up for an incredible Q3 and Q4.
• 14:10
  We'll see. We'll see if this plays out.
• 14:11
  Maybe September will be a little correction month, but October,
• 14:15
  November is going to be a great, great time.
• 14:18
  So maybe we'll have one more dip in US.
• 14:20
  Who knows how low the dip will go.
• 14:22
  But I'm starting to look at, hey, if we get a green October,
• 14:26
  a bullish or sorry, a bullish August, then we're going to be
• 14:29
  set up really good for Q4 of this year.
• 14:33
  And then really kind of going further into some of these
• 14:35
  charts. Again, shouts out to archive
• 14:37
  Bitcoin. Demand remains strong,
• 14:39
  accumulation is rising. Long term holders still buying.
• 14:42
  Here you can see the demand for accumulator addresses.
• 14:45
  It's going parabolic right now. You have sell side liquidity
• 14:49
  going down all exchanges, including the, you know,
• 14:52
  grayscale Bitcoin holdings, they are being diminished right now
• 14:56
  and then the apparent demand is on the rise right now.
• 14:59
  So even though the price is probably you're you're probably
• 15:02
  getting bored to death right now because of the sideways action.
• 15:06
  As we kind of mentioned earlier, we've been going sideways for a
• 15:09
  long time, which in our view it basically means it's zero.
• 15:13
  It's over here, we're getting bored to death, but I think it's
• 15:16
  going to be set up for a solid August and then a solid Q4.
• 15:21
  So I wouldn't be selling your Bitcoin right now.
• 15:23
  Don't sell the top right now. You're probably going to regret
• 15:27
  that anyways, that's my kind of analysis here.
• 15:30
  This is my chart. Boeing, join my free paid group
• 15:32
  later. No, I don't actually have one
• 15:35
  this. I do this free on the show for
• 15:37
  you guys. This is my free paid group.
• 15:39
  It's on simply Bitcoin. So this is what I'm seeing right
• 15:41
  now, guys. I don't, I don't think it's
• 15:44
  anything to worry about. But again, what do I know?
• 15:46
  I don't have a crystal ball. You know, I get trolled in the
• 15:48
  chat that if we don't get to 500 KA million this year, then we're
• 15:51
  liars, etcetera. Look, I'm updating my models
• 15:54
  with the information as it comes as well, man.
• 15:56
  So this is what I'm seeing. I don't think it's time to panic
• 16:00
  anyways, Nico, from there, take it away.
• 16:04
  Do you think we are going to see, based on my case here, are
• 16:09
  we going to see a bullish August and a bullish Q4?
• 16:12
  Yeah. I mean, you know, I think this
• 16:14
  is what everyone is kind of, you know, this is what I was
• 16:19
  predicting, which actually worries me a little bit, but.
• 16:25
  Dude I get bullish and he's still bearish.
• 16:27
  This is crazy. Yeah.
• 16:28
  So I mean, look, if the it's a big if, if Bitcoin follows
• 16:33
  historical patterns. That's the big if.
• 16:36
  If Bitcoin follows historical patterns, then we are very well
• 16:41
  set up for an explosive end of Q3 and Q4, right?
• 16:48
  And then a lot of people are also talking about an extended
• 16:52
  bull market. A lot of people are saying that.
• 16:53
  Someone just said that in here. Bitcoin bull market is going to
• 16:57
  be extended. Due to 2026.
• 16:59
  Into the, the like the the second-half of, of of 2026,
• 17:05
  Michael Saylor is going on and basically saying, could you pull
• 17:08
  up that meme that he posted on his account where he's like,
• 17:12
  it's the end of winters. There is yeah, he is.
• 17:15
  No, there is no Bitcoin Winters anymore.
• 17:18
  I've heard that, I've heard that.
• 17:20
  I've heard that before, right? But he is buying all the Bitcoin
• 17:24
  so yo he's got a godfather meme too.
• 17:28
  Legend. Yeah.
• 17:29
  So could you share that? So I mean like my take on all
• 17:34
  this is like look like I that dumb that happened last week was
• 17:39
  not cool. Like I mean it, it followed
• 17:43
  strategies essentially like they they did over they did their
• 17:47
  their earnings call, right. They had like Lynn Alden on the
• 17:50
  call. They had like press and pish on
• 17:52
  the call. They absolutely crushed it in
• 17:54
  terms of performance and then the price dumped regardless.
• 17:59
  Historically, bitcoins price doesn't do so well during the
• 18:02
  summer. People kind of just unplug, but
• 18:06
  it does do a little bit better towards the end of the year.
• 18:09
  But the reality is, is that we've been essentially
• 18:11
  consolidating for seven months, seven months of consolidation
• 18:17
  with volatility to the downside, not even the upside.
• 18:22
  But again, the more we kind of chop solidate, the the better
• 18:27
  the platform is of when we eventually go up.
• 18:31
  So when we event, when bitcoins number eventually goes up to the
• 18:34
  moon, there's a very strong platform of which Bitcoin could
• 18:39
  jump off of right. And I think this is where we're
• 18:42
  at right now. We're like in this like really
• 18:45
  kind of unique situation where, you know, Bitcoin, it has been
• 18:50
  going sideways essentially for, you know, what was seven months
• 18:54
  and eventually that kind of leads up to an explosive move
• 18:58
  upwards. And what Arthur Hayes is
• 19:01
  basically making the case for and Larry Leopard and Lynn Alden
• 19:06
  is that they're going to eventually start printing a
• 19:10
  whole lot of money. And when they do that, that
• 19:13
  tends to make the price go up, number go up, right up into the
• 19:19
  right. So I mean, I think that's my
• 19:20
  base case, man, but I don't know, you know, I feel a little
• 19:23
  bit chewed up here, Opti, like we've been this is 7 months of
• 19:28
  kind of boringness. This is paper Bitcoin summer,
• 19:30
  right? And you know, I don't know, man.
• 19:33
  I remember the the, the good old days, right, where like we'd
• 19:37
  used to like 2-3 X in like a matter of two or three months.
• 19:41
  Now it's taking a little bit longer now, to be fair, since
• 19:45
  the bottom of Bitcoin, like the bottom of the 22, was it 22?
• 19:49
  Yeah, it was a 22 bear market. It was at $16,000, we're up at
• 19:56
  115,000. So I mean, from a percentage
• 20:00
  return, that's a fantastic return, right?
• 20:04
  And what is that like 567X? It's pretty good.
• 20:08
  It's not bad. I don't know.
• 20:10
  I let me, let me charge. It's not bad at all, right?
• 20:14
  If you take a, yeah, just go from the bottom of the of the
• 20:17
  bear. Which which bear?
• 20:19
  Though the bear, bro, the bottom of the bear, Yeah, Yeah.
• 20:21
  So you just take the take the rule.
• 20:23
  Yeah, exactly. Take this off all right, guys.
• 20:27
  I'm doing it live behind the scenes.
• 20:29
  I I I don't need you guys trolling me about my my chart
• 20:31
  bowling over here to today's price.
• 20:34
  Yeah, no, no, no, no, no. But that that's 25.
• 20:38
  That's this year I'm talking about.
• 20:40
  Yeah, Sorry, sorry. Zoom out, press the five year
• 20:42
  thing. So I mean like look like from
• 20:46
  the bottom of the 2022 bull mark, bear mark, you're right
• 20:50
  there. Look.
• 20:51
  Oh, from the 2022, Yeah. That's, that's the cycle bear.
• 20:54
  That's the cycle bottom to the cycle top.
• 20:58
  We're up 641% in what, 2 years? That's an incredible, that's an
• 21:06
  incredible return. So, but again, from a
• 21:10
  Bitcoiner's perspective, you're like, dude, that's super boring.
• 21:13
  Like you know what's going on here?
• 21:16
  I think again, we're chop solidating.
• 21:19
  The last time we did that was in March of 24 and we did that all
• 21:25
  until October of 24. Bullish October.
• 21:30
  And then October, we kind of pulled up again.
• 21:32
  It definitely looks like it's on an upward trend.
• 21:34
  We kind of had our correction into the 76 K region.
• 21:40
  So yeah, I mean, I am bullish for the end of the year, but you
• 21:43
  know, I kind of want to see it go up because we haven't made
• 21:46
  all time highs in in Bitcoin terms and in Bitcoin to gold
• 21:52
  terms, we have not made an all time high.
• 21:54
  I don't know if anyone knows that.
• 21:55
  Yeah, yeah. Someone in the chat saying 600%
• 21:59
  yeah, so freaking boring hard huddle at the Bitcoin
• 22:02
  conference, someone pointed out that Nico looks like I can't say
• 22:06
  that. That's so funny the the chat's
• 22:11
  popping off. Anyways, if you guys are
• 22:12
  enjoying the show, smash that like button.
• 22:14
  It's Bitcoin and go. Help us break 100 likes within
• 22:18
  the 1st 30 minutes of the show. So smash that like button if you
• 22:22
  guys are enjoying the content. Kind of breaking the 2021 high
• 22:25
  right now. We are, yeah.
• 22:26
  I think we just broke it. Let me see.
• 22:30
  No right under it. Yeah, that's what I'm trying to
• 22:34
  tell you. We haven't made all time highs
• 22:37
  in gold since 2021, right? So I mean, like, we're going
• 22:43
  higher, it's just taking longer, which kind of goes into the
• 22:46
  whole power law narrative, right?
• 22:50
  Where they're like, look, we're gonna go up in percentage terms
• 22:52
  the same, It's just gonna take a lot longer.
• 22:55
  I think that's where we're at right now.
• 22:57
  But yeah, I mean, I'm telling you, like this institutional
• 23:01
  money, once it's gotten in, it's kind of weird, man.
• 23:04
  It's gotten weird. Like it's gotten super, super
• 23:07
  weird. Like Bitcoin has been acting
• 23:09
  strange since the approval of the ETF in January of 2024.
• 23:14
  Like the price action isn't the same.
• 23:18
  I can't pronounce that name. It says we go to a million in
• 23:20
  boredom. Someone said this is boring for
• 23:23
  people who got in after 60 Ki. Think that's a good point.
• 23:27
  Someone else says the price is kicking total ass.
• 23:30
  What's not to like? We're just bored, I think.
• 23:32
  Yeah, maybe we're just bored. Getting bored today but what
• 23:35
  What should be a boomer section? What's your take on what's your
• 23:41
  take on the price action going downwards?
• 23:44
  I think it's honestly very strong considering like what
• 23:48
  Arthur Hayes is saying, you know, the macro tailwinds right
• 23:50
  now or headwinds, sorry, there is a lot of economic
• 23:54
  uncertainty. There's a lot of things going on
• 23:57
  right now that are that are kind of shaking up the system and the
• 24:01
  fact that we saw literally like 100 + 1000 coins hit the
• 24:04
  exchange and we're still at 1:15.
• 24:07
  Like the biggest signal that I saw someone tweet out reminded
• 24:11
  me of this was right before my time.
• 24:14
  But the bear whale that Nico was around for, you know the the
• 24:17
  infamous bear whale story, the guy sold 30,000 Bitcoin and it
• 24:20
  took forever to get out of the bear market.
• 24:23
  This time we had literally 180 thousand Bitcoin transaction.
• 24:28
  It's still above 100K, it's still around 115 K and that
• 24:32
  wasn't even accounting for the other 20,000 plus coins right
• 24:36
  now. So I think the market is very
• 24:38
  strong. And again, I got to give a shout
• 24:40
  out to Mitchell Hartle. He's been, I think he might be
• 24:42
  right here. And Eric Balkunis kind of said
• 24:44
  it as well, the Bloomberg ETF analyst.
• 24:47
  It's like ever since the Bitcoin ETF, the market structure has
• 24:50
  fundamentally changed. And I think I honestly, you
• 24:54
  know, I don't want to say this time is different because you
• 24:56
  guys are going to troll me, but it does feel like things have
• 24:59
  fundamentally changed and we won't be able to really
• 25:01
  recognize it until after the fact, you know, 2020 hindsight
• 25:05
  and all that. So I think, I think things are
• 25:07
  changing for better or for worst.
• 25:09
  And I'm, I'm starting to lean into we're just going to get
• 25:13
  bored to death to 1,000,000. So, you know, just keep
• 25:15
  stacking. We're probably going to have to
• 25:18
  find new topics. What's a board to death to a
• 25:20
  million? What is that?
• 25:21
  Literally what we're doing right now, just a little bit of pump
• 25:26
  sideways action, slight correction, a little bit of pump
• 25:29
  you. Think the arrows of the
• 25:30
  parabolic move movements. Upwards are over I think.
• 25:34
  Like on a yearly chart, it'll still look parabolic, but I
• 25:39
  just, I don't, I'm not sure if it's still going to be, you
• 25:41
  know, you need to be in the market for 12 days.
• 25:43
  You know how it used to be that Bitcoin would pump after 12 days
• 25:46
  and we do all these crazy price movements.
• 25:49
  It might just be you pump, you know, one month you pump, then
• 25:52
  it goes sideways and it does this stair stepping ladder and
• 25:55
  then you go sideways for a couple of months and then it
• 25:58
  just pumps again for another 20, thirty, 50%.
• 26:02
  And it just kind of does this very boring.
• 26:05
  Like, wait, I don't know, man, we're trading the S&P 500.
• 26:09
  Mel, who is bored? Seriously, I'm, I'm totally
• 26:12
  bored right now. Dark, dark gets it.
• 26:17
  We're going to be bored when the price hits $1,000,000 because we
• 26:19
  knew it was going to get there for so long.
• 26:21
  So you know, slow climb is good though a slow climb is is
• 26:26
  obviously healthy and I'm all for it.
• 26:29
  But can we get 2017 vibes back? I mean, I think, I think
• 26:33
  eventually I mean, but that's that's $1,000,000 question,
• 26:37
  right? And I'm going to put that in the
• 26:39
  chat. I want to I want to get your
• 26:40
  guys's thoughts is the era of is the era of Bitcoin?
• 26:50
  Parabolas. Yeah.
• 26:51
  See. Everyone's bored in the chat.
• 26:53
  Mel, what are you talking about? All right, I just wait.
• 26:56
  Now this is a better question. I.
• 26:57
  Just asked everyone in the chat. This is a better question.
• 27:00
  Era of Bitcoin parabola is over. Though to add to this, would you
• 27:04
  rather a parabolic blow off top or up slowly for the next 10
• 27:08
  years? Blow off top dude.
• 27:10
  I don't know. Give me that dopamine dude.
• 27:12
  Dude, this last bear market was kind of rough being all in on
• 27:14
  Bitcoin, I'm not going to lie. So give me that dopamine.
• 27:17
  Bro, I want slow and up and to the right forever.
• 27:20
  Yeah, yeah. No more bear markets, dude.
• 27:22
  No more winters. Dude we haven't even gone up and
• 27:24
  to the right for like like 7 months.
• 27:26
  Bro it's literally only been up and.
• 27:28
  To the right? No it hasn't.
• 27:31
  Yes, it has. I don't know.
• 27:34
  It's literally up and to the right like you're tripping.
• 27:37
  Look at this. It's literally up into here.
• 27:38
  Let me, let me, let me show it. Dude, we're chart boing.
• 27:42
  We're chart boing, we're char boing.
• 27:43
  We're we're talking about where? Where?
• 27:46
  Look at this dude. Literally just up and to the
• 27:49
  right dude. Like it pumps, goes sideways, it
• 27:53
  pumps, it goes sideways, it pumps, it goes sideways.
• 27:56
  So it pumps, it's going to go sideways.
• 27:58
  But look compare it to. The I agree like this is this is
• 28:01
  what I want. I want this.
• 28:03
  I'm being selfish. I want this, you know, look,
• 28:08
  I'll even take 2021. So the consensus, I want to take
• 28:12
  a look at how the the chart is doing.
• 28:14
  I mean, how? Not the chart, but I want to
• 28:15
  take a look at how the poll is doing and seeing what everyone
• 28:18
  thinks I said is the era of Bitcoin.
• 28:22
  Parabola is over 60% of you guys, 60% said no.
• 28:27
  All right, let's go. 60% said there is going to be some type
• 28:31
  of action. I'm thinking there is going to
• 28:33
  be some type of action. All right, you know we got to
• 28:35
  change this segment can somehow I am the bearish 1 here and I
• 28:38
  don't like this. My ego can't handle me being
• 28:41
  more bearish than Nico here so. Anyways, guys, we have a loaded
• 28:45
  show for you guys. So much to talk about.
• 28:47
  We have Senators Cynthia Lummis going hard in the paint, you
• 28:52
  know, really putting pressure on the Federal Reserve.
• 28:55
  Also more action coming out of the Federal Reserve.
• 28:57
  Fed Governor Kugler resigns, giving Trump vacancy, which is
• 29:02
  really, really interesting. I believe at the current moment,
• 29:07
  with this current resignation, I think it's going to be three to
• 29:12
  three Republican Democrats. So it's gonna be like across the
• 29:16
  board, kind of even. And then we played an ad on
• 29:21
  Friday that you guys didn't like.
• 29:24
  Totally naked our numbers. He was right.
• 29:27
  Vindicated again you. Guys didn't like but essentially
• 29:29
  it was like a musical of Coinbase like dancing and
• 29:36
  celebrating and like in the UK and a pretty that ad got banned
• 29:41
  in the UK. Yeah, it didn't get banned
• 29:43
  because it was saying too much signal.
• 29:46
  It was banned 'cause it was. Horrible.
• 29:48
  And then we got some. We got some thoughts from Josh
• 29:52
  Mandel and we got some. We got some interesting data
• 29:55
  coming out of Fred Krueger, which I think is really
• 29:58
  interesting. And then we have a thread by
• 30:01
  Arthur Hayes. So guys, this is going to be an
• 30:03
  incredible show. You guys are going to want to
• 30:04
  stay tuned in. This is simply Bitcoin on August
• 30:08
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  All right, everybody, let's start the show.
• 31:54
  We have tons to talk about. We will be right back in just a
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  today. Alright everybody, At the time
• 33:33
  of recording, the Bitcoin price is $115,720 Block height 908,592
• 33:43
  sats per dollar 864 sats per dollar Market cap 2.34 trillion
• 33:49
  Bitcoin versus gold market cap 9.67% Decline from all time high
• 33:55
  -6%. Realize monetary inflation .84%.
• 34:00
  In the grand scheme of things, we're just getting started.
• 34:02
  Anyways, here is the Bitcoin senator, Senator Cynthia Lummis
• 34:07
  on the floor of the Senate, and she's been going super hard on
• 34:13
  the Federal Reserve for acting politically.
• 34:17
  They and I'll, I'll just, I'll just play the clip and then opt
• 34:20
  in and out. We'll talk about it.
• 34:23
  I won't have any confidence in the Fed's IG and its findings
• 34:30
  until that person has statutory independence from the Fed chair.
• 34:37
  The Federal Reserve has grown too powerful, too insulated, too
• 34:43
  comfortable, and they are operating in the shadows, and
• 34:48
  this is the minimum we can do to start getting this independent
• 34:53
  agency some scrutiny. They don't even respond to FOIA
• 34:59
  requests. You can't get an answer.
• 35:03
  That place is whack A mole. If you try to talk to the Fed
• 35:06
  chair about something, they'll put it on the vice chair for
• 35:11
  banking supervision. Who will put it on the
• 35:15
  presidents of the Federal Reserve Banks.
• 35:17
  Who put it back on the White House, Who put it back on bank
• 35:22
  supervision? Who put it on the lawyer of for
• 35:24
  bank supervision? This place is a ping pong ball
• 35:28
  when it comes to trying to get an answer to a question.
• 35:34
  It's become a giant black hole of, I mean, that's pretty crazy,
• 35:41
  bro. And again, when they always talk
• 35:45
  about Bitcoin being obscure and you don't know what's going on
• 35:52
  with Bitcoin and it's this private money.
• 35:55
  Like there you have Senator Lummus basically saying, hey,
• 36:00
  this is a black hole. Like we, we don't we can't even
• 36:02
  get answers out of them when we want answers out of them.
• 36:04
  Like we a FOIA request, by the way, is a Freedom for
• 36:07
  Information Act like they should be responding to that.
• 36:11
  And they feel like they don't, they don't need to, right?
• 36:16
  So that's pretty crazy. And you kind of just see like
• 36:19
  the political dynamic between the Trump administration and the
• 36:25
  Federal Reserve where Trump is basically saying, OK, you need
• 36:28
  to lower rates. You know what's going on here
• 36:32
  and then the Fed doesn't. And then we know that during
• 36:35
  Operation choke .2 point O, they got their hands dirty and taking
• 36:40
  down some of these pro Bitcoin banks and passing some of this
• 36:45
  anti Bitcoin legislation or, or, or some of the regulatory
• 36:49
  actions that were done by the previous administration.
• 36:52
  This is also an institution that wants to roll out a central bank
• 36:56
  digital currency. So someone in the chat saying
• 36:59
  they're a private company, I mean, they sure are acting like
• 37:03
  it. And this institution has so much
• 37:06
  power. It has so much power, and it's
• 37:10
  unaccountable. It's inaudible.
• 37:13
  You don't know what's going on there.
• 37:14
  It's a trust me, bro type of situation.
• 37:18
  And this institution basically controls the country's money.
• 37:23
  Like what are we doing here? What what the F is going on,
• 37:27
  right? As bitcoiners, you can you
• 37:31
  could, you know, buy a node and you could download a node.
• 37:34
  You can audit the chain. You know what everyone is doing.
• 37:38
  It's public. It's you know, it's an open
• 37:41
  Ledger. You don't have to trust me, bro.
• 37:45
  And this is a system that's a trust me bro system.
• 37:48
  It's like trust me, bro. And it's not even.
• 37:50
  And then when you ask, it's like, OK, man, but like, I'm
• 37:53
  having a hard time trusting you. Like, could you do me a solid
• 37:58
  and like, you know, send me some something like good.
• 38:03
  And it just ignores you. That doesn't give a lot of
• 38:06
  confidence in the trust me, bro, right model.
• 38:09
  So, you know, I, I applaud Senator Lummus for highlighting
• 38:14
  basically the hypocrisies, the inefficiencies, the obscurity
• 38:22
  that this institution is acting with.
• 38:26
  This again, is supposed to be an institution that is supposed to
• 38:29
  represent the interests of the American people.
• 38:33
  Who's it accountable to is my question.
• 38:37
  If it's not accountable to us, who's it accountable to, right?
• 38:42
  Who is the Federal Reserve accountable to?
• 38:46
  Because it's not acting like it's accountable to the people,
• 38:49
  it's acting like it's accountable to itself.
• 38:52
  And I don't know if you guys saw that video of Trump basically
• 38:56
  going back and forth with Powell and, and like Trump is basically
• 39:01
  saying like you guys are spending $3.1 billion
• 39:06
  essentially updating the building, bro.
• 39:09
  What type of building is that? What type of building is that?
• 39:13
  3.1 billion? What are they building in there,
• 39:16
  dude? Like what type of renovation
• 39:20
  cost $3.1 billion? That's that's insane.
• 39:25
  And then people in the chatter saying it's acting like a
• 39:28
  cartel. I mean, it sure does look like
• 39:31
  it. It's like we don't answer to
• 39:33
  you. We don't even respond to Freedom
• 39:36
  of Information Act. We were hostile towards Bitcoin
• 39:39
  with the previous administration.
• 39:41
  We kind of want to roll out a central bank digital currency
• 39:45
  like, so if it's not democratically accountable, if
• 39:49
  it's acting in a in obscurity like I, I, at this point, I
• 39:55
  don't care what they have to say about Bitcoin.
• 39:58
  It seems like the things that they have to say that about
• 40:00
  Bitcoin, they're guilty of themselves.
• 40:03
  They're projecting onto US what it is they are guilty
• 40:07
  themselves. That's my stance on the Fed bro,
• 40:10
  because this is some crazy stuff.
• 40:13
  Anyway, every people in the chat are all agreeing it is actually
• 40:17
  a cartel by definition. Like, you know, like this is
• 40:20
  this is crazy, man. This is some crazy stuff.
• 40:23
  And I applaud the Bitcoin senator for going up there
• 40:26
  bravely and just telling the Senate, you know, we're
• 40:29
  basically playing a game of whack A mole, right?
• 40:32
  And we can't find out what the F is going on.
• 40:35
  We can't get the truth out of this institution.
• 40:38
  So I'm really glad we have, you know, a senator that's actually
• 40:42
  highlighting what's going on and, and she's sitting on the
• 40:45
  and on the Banking Committee too.
• 40:47
  So it's, it's perfect, right? So anyways, guys, I think the,
• 40:51
  the veil is being uncovered. I think the very legitimacy of
• 40:56
  this institution is being questioned.
• 40:59
  The Overton window is shifting. It needs to continue to shift
• 41:03
  and people need to wake the F up and realize that this
• 41:07
  institution is not accountable to anyone.
• 41:12
  And we need to wake the F up and realize that now we have a
• 41:16
  better system, an open protocol of which we don't have to play
• 41:22
  the trust me bro model. We can play the don't trust me
• 41:26
  Bro verify model, which I think is a much superior model.
• 41:32
  And someone in the chat said they already basically, I can't,
• 41:37
  I don't know if I could say that, but they basically said
• 41:40
  that like, look like they took over the United States in 1913.
• 41:45
  What more do we need to build an alternative?
• 41:47
  Like I, I completely agree. I mean, the whole history of
• 41:51
  that institution is obscure. It's cloak and dagger.
• 41:55
  It's not open, it's not transparent.
• 41:58
  It's not public, right? They say, they keep saying how
• 42:02
  Bitcoin is private money. That's a projection.
• 42:05
  That's a projection. Our money is more public than
• 42:10
  their money. If you try to make more dollars,
• 42:14
  that's counterfeiting. Anyone can make more Bitcoin as
• 42:18
  long as you pay for the electricity, right?
• 42:21
  So, yeah, I mean, this is, you know, this is, this is I'm, I'm
• 42:27
  very glad Senator Lummus is on our team.
• 42:29
  Opti, what's your take on all this?
• 42:31
  Bro Yeah, Well, I mean, first of all, of course I'm, I'm glad
• 42:36
  Senator Lummus is a bitcoiner. I think she's, she's doing her
• 42:40
  best. And I think it's, it's doing a
• 42:42
  good job to kind of, as Nika like to say, move the Overton
• 42:45
  window. Though I think I'm a little more
• 42:47
  cynical in regards to the what we're seeing from the
• 42:51
  politicians and the Fed. I, I just keep getting reminded
• 42:54
  of Scott Besson and Jerome Powell literally have lunch
• 42:57
  every Monday. So like they're literally in
• 42:59
  lunch like right now. So there is no there this, you
• 43:05
  know, independence and we need to kind of put them in check.
• 43:09
  Like by default, it's not federal.
• 43:11
  It has no reserves. I, I don't think it really is
• 43:14
  independent. The, I think we did that article
• 43:17
  the other day of like the independence is a myth.
• 43:20
  I, I don't think they are actually acting nefarious per
• 43:26
  SE. Like I don't, I don't think
• 43:27
  they're doing anything that the Trump administration doesn't
• 43:29
  want them to do. I think Scott Besson and Jerome
• 43:32
  Powell are kind of doing a really good coordination right
• 43:35
  now. And hey, Jerome Powell is being
• 43:38
  the scapegoat. Like he's the bad guy right now.
• 43:40
  Now, do I necessarily believe in the Fed?
• 43:42
  No, you know me, I'm a bitcoiner.
• 43:44
  I think there needs to be the separation of money and state.
• 43:46
  I don't believe in central banks at all.
• 43:48
  But I don't, I think this is more coordinated than then we're
• 43:52
  led to believe. Now, does Senator Lummis, is she
• 43:55
  in on that? It's I don't think so.
• 43:58
  So like what she's doing, I think is really good to kind of
• 44:01
  wake up the masses out there and kind of show everyone out there
• 44:04
  if they're following politics that, hey, there is something
• 44:07
  wrong with the Fed. There is, you know, as Thomas
• 44:09
  Sowell used to say, you know, there is a cancer there, which
• 44:12
  is the Fed. And when you remove it, you
• 44:14
  don't put a, you know, you don't put a new tumor in.
• 44:16
  So maybe I'm a little more cynical here.
• 44:19
  Again, I, I do take a lot of this from what Tom Luongo has
• 44:22
  been saying for a long time is I think there's more of a
• 44:26
  coordinated dance being played right now by Scott Besson and
• 44:29
  Jerome Powell together to essentially drive a lot of pain
• 44:33
  to European markets. And I think they're doing a
• 44:35
  great job doing that. Now.
• 44:36
  I know Trump and Jerome Powell have been kind of publicly
• 44:39
  beefing, but I think that this is it's reminds me of the, you
• 44:43
  know, world, the wrestling term. It reminds me of keyfab.
• 44:46
  Like they they are it's, it's all it's all a show right now.
• 44:50
  That's kind of my take on all of this.
• 44:52
  But that whole speech that Senator Lemons did was, was
• 44:56
  great. I think she did a great job.
• 44:58
  She thoroughly destroyed the Fed, which is what we always
• 45:00
  talk about here. But it's very interesting that
• 45:03
  Main Street or, you know, retail or just the average person just
• 45:07
  really tunes it out. Like if you talk to an average
• 45:10
  person about ending the Fed, they probably don't care at all.
• 45:12
  They they're probably more focused on what they would say
• 45:16
  are bigger problems right now. But from our perspective, they
• 45:19
  are the biggest problem. They're destroying our
• 45:21
  purchasing power and they do ACT quote UN quote independently and
• 45:26
  they can do whatever they want and then we just have to kind of
• 45:28
  deal with it. But I am kind of on the side
• 45:31
  that I think Scott Besson and Jerome Jerome Power kind of
• 45:35
  they're doing a a coordinated dance right now and I think it's
• 45:38
  working very well. Yeah, one 100% man.
• 45:42
  I mean, I, I, I, I don't know I I don't know Opti.
• 45:44
  You think you think this is on purpose?
• 45:45
  You think it's all like a you're really on the Tom Luongo Cam I.
• 45:49
  Really am like again. Look, I'm not I I'm becoming a
• 45:53
  more macro guy now and. Opti is the in house macro.
• 45:58
  Dude, well, we got problems here, you know, But I'm not the
• 46:04
  only one that's saying it. Like Tom Luongo has been saying
• 46:06
  it for a long time. Mark Moss just recently came out
• 46:09
  and said the same thing. He's calling it the Mar a Lago
• 46:12
  Accords. Like, what he's seeing Scott
• 46:13
  Besson do and Jerome Powell do currently is essentially to
• 46:19
  bankrupt the European Union. And it's working marvelously
• 46:23
  right now. Like a lot of this pressure,
• 46:26
  like, I know Trump wants to lower interest rates, but the
• 46:29
  fact that Jerome Powell has been able to maintain the interest
• 46:32
  rates that we have right now is really, really becoming a
• 46:35
  headache for European markets. And you can see that the EU
• 46:39
  leaders are scrambling right now.
• 46:40
  This is why you're seeing Christine Lagarde scramble from
• 46:43
  our control. This is why they're going for
• 46:44
  more CBD CS. The EU is getting cooked right
• 46:48
  now. And like, I don't like the Fed.
• 46:50
  I'm, I've never really been a Jerome Powell fan, but I think
• 46:54
  he's doing a great job right now.
• 46:55
  If if this is really about American sovereignty and Trump
• 46:59
  is kind of maybe he's doing kind of some theatrics here.
• 47:03
  And it's like, I don't want this to happen.
• 47:05
  But again, we know what they want.
• 47:07
  They want to continue to drive independence in the US dollar.
• 47:13
  What how they can do that is they got to kill the the euro
• 47:16
  dollar markets, which they're doing.
• 47:18
  That's what Tom Malonga has been covering for a long time.
• 47:21
  And they Trump really does want lowered interest rates because
• 47:25
  he wants that money to slosh around.
• 47:27
  And so they need the Dixie to go down.
• 47:31
  They got to make sure that interest rates on bonds don't
• 47:33
  spike and they got to make sure that, you know, he wants those
• 47:38
  those rates lower. And This is why they're pushing
• 47:41
  for stable coins. And This is why they want
• 47:43
  Bitcoin to RIP as high as they want it to RIP.
• 47:46
  Like it when you think of it in this context, it all just kind
• 47:49
  of plays out like theater. And I, and I think this is kind
• 47:52
  of the public theatrics is like make Jerome Powell the bad guy.
• 47:56
  We all know he has publicly stated or rather been publicly
• 47:59
  quoted as saying that he wants to stop Trump.
• 48:01
  So I don't, I think, you know, I hate to say it, but I do think
• 48:05
  Jerome Powell is trying to look out for the US best interest.
• 48:10
  And I think he is kind of being made a scapegoat though in
• 48:13
  general, by default, I'm not a fan of the Fed at all.
• 48:16
  So, you know, I, I'm of two minds here.
• 48:19
  And like, again, if you guys want to read more or hear more
• 48:22
  of this, like listen to the interview that Nico did with
• 48:25
  Mark Moss. He laid it out perfectly.
• 48:27
  And then you can go down whatever rabbit hole you want.
• 48:29
  But it's becoming very clear what's going on here.
• 48:32
  And I don't think Jerome Powell was necessarily the bad guy.
• 48:36
  He's a bad guy by default because he's a central banker,
• 48:38
  but I don't think he's the bad guy that Trump makes him out to
• 48:40
  be anyways. Anyways, we did get a super chat
• 48:43
  shout out to Stussy because we are seven months into the year.
• 48:47
  Let's get serious about year end price targets. 250K is mine all.
• 48:50
  Right. Boom, we should do some.
• 48:52
  Air horns for that. Bro and some stussy 50K.
• 48:59
  Oh someone's someone's being bearish bro.
• 49:01
  What do you mean 50K? Get out of the chat 50.
• 49:05
  K And I'm going to end this poll.
• 49:08
  Is the era of Bitcoin parabolas. Over 69% of you guys said no.
• 49:15
  And I I agree. I'm part of that.
• 49:17
  I'm part of that group of people that agree, that agrees with you
• 49:21
  guys. I don't think the era of Bitcoin
• 49:23
  parabolas is over. Anyways, guys, we have an
• 49:26
  incredible show lined up for you.
• 49:28
  We still have a ton to talk about.
• 49:30
  We're going to hit the news segment.
• 49:31
  We're going to be right back in just one second.
• 49:35
  I want to give a shout out to our partner.
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• 51:25
  Wait, Nico, Nico, before you go. Oh, what happened?
• 51:28
  Did our camera die? No.
• 51:30
  Did it? Yeah, I think it's.
• 51:31
  I think it's. Oh, it's not plugged in.
• 51:34
  OK, all right, well, while while we're doing that, we're fixing
• 51:37
  the camera. Shout out to Ron P $10.00 for
• 51:41
  the Opti Mayo and Coffee fund. Yes, Chipotle Mayo from Porsche
• 51:46
  is delicious and coffee is the GOAT.
• 51:50
  Sorry guys, we're fixing the camera right now.
• 51:52
  It wait a second. Maybe it's not plugged in.
• 51:56
  It's not plugged in. All right, guys, rookie move.
• 52:00
  Rookie move. We're coming back.
• 52:02
  We're coming back, dude, it's a Monday.
• 52:05
  It's feeling like a Monday. All right, you're gonna have to
• 52:08
  give it a minute. Let's we could just switch to
• 52:11
  our computer for a second. I mean, it's just gonna take a
• 52:15
  minute before it charges or just pull something up.
• 52:19
  Pull this up all right, just full screen it.
• 52:24
  Just full screen it and then I'll get the camera going.
• 52:29
  Full screen your source full screen your source.
• 52:32
  This guy what a rookie. There he is.
• 52:40
  All right here I'll deal with the camera all.
• 52:42
  Right, we are back. What happened?
• 52:46
  That's so weird. It's a Monday, bro.
• 52:48
  It's it's a Monday. Anyways, guys, let's jump
• 52:52
  straight into the news while Opti tries to figure this out
• 52:56
  and we roll with the punches. We're good.
• 53:02
  All right, we're going to switch back to the original camera
• 53:06
  anyways, we had this tweet or this post by Josh Mandel.
• 53:12
  Oh, man, is it plugged in? It plugged in.
• 53:24
  Here, hold on, it's not working well, it's not working on our
• 53:34
  side. All right, let's jump into the
• 53:36
  news all right, so this is kind of covering the recent price
• 53:41
  action. The markets heat and then they
• 53:44
  cool of this, you know for sure and when the temp drops too too
• 53:48
  damn much the printer it goes Burr.
• 53:51
  As for the coin, do not fear. I know how this will end. the
• 53:55
  Fed shall seek they shall find the data on which they depend
• 53:59
  and worse to realize they're now behind.
• 54:02
  Here's a little hint. We'll find a way out of this
• 54:05
  bind. Just wait for the big print.
• 54:09
  Very very nice. Also, I thought this data point
• 54:15
  was quite interesting. We're back to OG status.
• 54:19
  I like this next to each other. So Fred Krueger says who owns
• 54:25
  Bitcoin? Bitcoin is mainly AUS thing,
• 54:29
  which I find really, really interesting, right?
• 54:32
  Europe is really not involved. So if you take a look at the
• 54:36
  total supply, most of Bitcoin is held by the United States.
• 54:43
  I mean, for better or for worse. I mean, I I don't know how you
• 54:48
  feel about that Opti, because I think it's definitely really bad
• 54:51
  from a decentralization standpoint.
• 54:54
  Yeah, yeah. Let me let me look at this real
• 54:57
  quick. That does.
• 55:24
  The biggest kind of participants in this market, whether that's
• 55:27
  by company ETFs, the US is holding self custody by
• 55:33
  individuals and you could say that that's probably because we
• 55:37
  are the richest nation and we have the money printed to back
• 55:40
  us. You know I'm I'm I'm not going
• 55:41
  to not say that but let me let's see the global.
• 55:46
  I think this is right. I think this is totally right.
• 55:49
  Most of the Bitcoin is being held in custody by.
• 55:54
  Individuals, yeah, but I mean dude like percentage of total
• 56:00
  Bitcoin, 7.8 million retail ETFs, institutions, custody
• 56:07
  India holds 1% or 5% what, 1,000,000?
• 56:11
  What do you want the opposite to do?
• 56:13
  I mean, I would rather it be a little bit decentralized.
• 56:16
  Dude, everyone's just being late.
• 56:18
  They're just late adopters. I would rather it be
• 56:20
  decentralized. I I don't it's totally
• 56:22
  decentralized. I don't want it to just be in
• 56:24
  one like 1 country. Dude, we're just the Bitcoin
• 56:27
  superpower of the world. And you call me the maggotard
• 56:32
  bro? Hey dude, I'll steal his memes
• 56:34
  any day. So anyhow, OK, so I thought you
• 56:38
  guys would find that interesting.
• 56:40
  Now let's jump into the big news for today.
• 56:43
  Fed Governor Krugler resigns, giving Trump vacancy Federal
• 56:49
  Reserve Governor Adriana Kugler will resign her job next week,
• 56:52
  the Fed said in an announcement, giving President Trump an early
• 56:56
  opportunity to appoint a favored candidate for potential
• 57:00
  leadership of the central bank. Here's Caitlin Long responding
• 57:05
  to it, says the question is again whether Trump will
• 57:07
  actually fire Powell. The Board of Governors is 4 to 3
• 57:12
  Dems, Repubs. So firing Powell wouldn't have
• 57:16
  given Trump a GOP majority. But now that Coogler is
• 57:20
  voluntarily stepping down the calculus, that calculus just
• 57:25
  changed. So it's quite interesting.
• 57:28
  And then OPDI, I want to get your thoughts on that before I
• 57:31
  move on to the next. Bit yeah, well, I think the big
• 57:34
  take away from this is, well, really the most interesting part
• 57:38
  about this is kind of speculating on why she resigned
• 57:43
  when she did, especially when there's been a lot of
• 57:45
  conversations about Jerome Powell resigning.
• 57:48
  That's been like the rumor for the last couple of weeks, and
• 57:51
  she kind of stepped down now. I think the implications of this
• 57:55
  playing out now are very interesting.
• 57:58
  So so, you know, Trump's going to obviously put someone in
• 58:00
  there that they have to vote on, but he's that's going to be
• 58:04
  favorable to Trump. And if this is the case, you
• 58:07
  know what it's going to be 3 three for three, right?
• 58:10
  It's going to be completely tied now with the new person coming
• 58:13
  in. And from my perspective, what
• 58:16
  that means is lowered interest rates and money printed is going
• 58:19
  to go Burr. So like I, you know, whether
• 58:22
  this is a good thing for everyone is up for debate.
• 58:26
  It's really probably not going to be a good thing for everyone.
• 58:29
  Of course, the more money they print, the, the more your
• 58:32
  purchasing power gets destroyed. But on the flip side, if you are
• 58:36
  holding assets, if you're holding Bitcoin, the more money
• 58:38
  they print, the more Bitcoin number go up.
• 58:41
  So I think now it's going to be very interesting considering
• 58:45
  it's going to be tied. And then what is going to happen
• 58:48
  with Jerome Powell? Is he going to step down?
• 58:50
  Is he going to resign? Are the Trump administration
• 58:53
  going to be able to basically fire him?
• 58:55
  Now? It starts to get really
• 58:56
  interesting because if Jerome Powell leaves as well, then I'm
• 59:00
  guessing it's going to be heavily favored in Trump's
• 59:04
  direction. And we'll see if there really is
• 59:07
  some independence there. I know Besson's been talking
• 59:09
  about basically corralling the Fed for a while now.
• 59:13
  And if they are more, you know, symbiotic here, then they're
• 59:17
  going to do whatever Trump wants.
• 59:18
  Lowered interest rates turn on the money printer, inflate their
• 59:21
  way out of the out of this debt problem.
• 59:24
  If you're not holding Bitcoin right now, you probably should
• 59:27
  be. It seems like everything is
• 59:28
  going in their direction and they're about to do the hugest,
• 59:32
  most massive big print possible. So, you know, on the one hand, I
• 59:37
  don't want to see everyone get destitute and poor out there
• 59:40
  because they're going to get their purchasing power
• 59:42
  destroyed. On the other hand, it's going to
• 59:45
  pump assets up, bro. And we got the fastest race in
• 59:47
  the horse. So, you know, it's not
• 59:51
  necessarily a good thing, but it's going to pump.
• 59:55
  It's going to pump Bitcoin. So on that front, hey, I don't
• 1:00:00
  know, man. Hands up, wash my hands like you
• 1:00:02
  know, upon his pilot here. Whoa whoa, biblical references
• 1:00:07
  here we're going biblical. All right, guys, if you guys are
• 1:00:09
  enjoying the show so far, it is a Monday smash that like button
• 1:00:13
  485 live viewers on YouTube, 1500 on X and about 100 or so
• 1:00:20
  watching live on rumble. If you guys are enjoying today's
• 1:00:23
  simply Bitcoin live smash that like button really, really helps
• 1:00:28
  with the algos to push our message forward.
• 1:00:32
  Moving on to the next piece of news.
• 1:00:34
  So Opti and I actually played this video for you guys on
• 1:00:39
  Friday and. They naked our show, just naked.
• 1:00:42
  The show completely It was 100 what?
• 1:00:47
  Go, go, go and. Then it was 100 I.
• 1:00:49
  Got some? Speculation 100 Live viewers
• 1:00:52
  just dropped off the face of the radar.
• 1:00:57
  And that usually never happens to us, so we were kind of making
• 1:01:00
  jokes about it. Listen, you guys don't like
• 1:01:03
  musicals. I appreciate the amount of
• 1:01:06
  coordination and art that goes into musicals and I and I could
• 1:01:11
  appreciate the art form. It's just not something that I
• 1:01:15
  would I I personally resonate with.
• 1:01:17
  I've been to musicals. I like them.
• 1:01:19
  I like, again, it takes a lot of art, man.
• 1:01:23
  It takes a lot of talent to practice to get really good at
• 1:01:25
  them. So I understand that right.
• 1:01:30
  But at the same time, you know, I just I, I, I just I me and
• 1:01:34
  Opti were just it wasn't our cup of tea.
• 1:01:36
  In turn, I didn't mean to make that joke, but it wasn't our
• 1:01:39
  cup. It wasn't our cup of tea in
• 1:01:41
  terms of the types of ads that we like to that we like to
• 1:01:45
  consume Like we, we like, we, I loved the Federal Reserve ads.
• 1:01:50
  Like this is how much dollars they've printed in a year.
• 1:01:52
  And it's like, you can't, you can't afford a house.
• 1:01:55
  Like, you know, like it was all these things and I was selling
• 1:01:58
  off the like, I really like those ads.
• 1:02:00
  Those ads punched really hard. Like they were really good.
• 1:02:03
  But for some reason this Coinbase one didn't really
• 1:02:06
  resonate with me. Now here's Brian Armstrong, the
• 1:02:08
  CEO of Coinbase, and he says our ad, which got banned in the UK
• 1:02:11
  by the TV networks has sparked a quite a reaction.
• 1:02:15
  If you can't say it, then there must be a kernel of truth in it.
• 1:02:19
  Needing to update the system and improve society is not a
• 1:02:22
  political statement on either party in the UK.
• 1:02:25
  Some have tried to turn it, turn it into this, and it's not
• 1:02:29
  specific to the UK. We ran ads with similar themes
• 1:02:33
  in the US. It's a statement about how the
• 1:02:35
  traditional financial system is not working for many people and
• 1:02:39
  how crypto represents a way to improve that.
• 1:02:42
  There are people in the UK who still think of crypto as some
• 1:02:45
  kind of gambling product, a very outdated view, and have
• 1:02:49
  completely missed the potential of crypto, which is to update
• 1:02:52
  and improve the financial system for the benefit of everyone.
• 1:02:55
  We will welcome the attacks and any other attempts to censor
• 1:02:58
  this message as it just helps it spread now.
• 1:03:01
  OK, two things can be true at the same time.
• 1:03:07
  As Bitcoiners, we do believe that crypto is very speculative.
• 1:03:15
  We do believe that everything loses value as it compares to
• 1:03:20
  Bitcoin. I think cryptos are oscillators
• 1:03:23
  at best, right? But they all tend to lose value
• 1:03:25
  as it compares to Bitcoin. So does that mean that you can't
• 1:03:30
  gamble on one and win some money?
• 1:03:34
  Of course you can. Many people have, we don't
• 1:03:37
  recommend it. We take, we take the low time
• 1:03:39
  preference type of approach. But again, it's your money.
• 1:03:43
  You could do whatever you want with it.
• 1:03:46
  So I think Brian Armstrong's framing of like crypto is going
• 1:03:50
  to fix the financial system. I think that's wrong.
• 1:03:53
  I think Bitcoin is going to fix the financial system.
• 1:03:56
  I think Bitcoin is already an alternative financial system
• 1:04:00
  that doesn't even need to be fixing.
• 1:04:02
  You could just opt out into Bitcoin and you could start
• 1:04:05
  living your life and all of a sudden you're going to be start
• 1:04:08
  living on a deflationary currency and savings and all of
• 1:04:12
  a sudden everything around you is going to get cheaper to the
• 1:04:15
  end of time. You could start doing that now.
• 1:04:18
  So I do admire and I do appreciate the Coinbase ads
• 1:04:22
  because they're extremely effective in terms of production
• 1:04:25
  value and in terms of pointing out that the fact that the
• 1:04:29
  system is broken, right? Because I think everyone agrees
• 1:04:32
  on that. I think like the, the general
• 1:04:35
  consensus is everyone feels like something is wrong.
• 1:04:38
  Like that's a general consensus. And I agree.
• 1:04:41
  And I think the Coinbase ads are fantastic because they highlight
• 1:04:45
  that everyone believes something is wrong.
• 1:04:47
  Where I think Brian gets it wrong is that he's like, crypto
• 1:04:51
  is going to fix this. It's like dude, buying Pepe coin
• 1:04:55
  that's down 80% isn't going to fix anything.
• 1:04:59
  It's if anything, it is going to wreck you 100 times more.
• 1:05:02
  And what is that? But not gambling, right?
• 1:05:05
  Like Bitcoin is going to fix this.
• 1:05:07
  So in a way, in a way he's true like crypto.
• 1:05:12
  But if you put Bitcoin into the crypto category, but I wouldn't
• 1:05:17
  say I would say Bitcoin is a crypto.
• 1:05:20
  But Bitcoin and crypto are not the same.
• 1:05:23
  Bitcoin and all coins are not the same.
• 1:05:25
  I think Bitcoin can solve the issues, but only Bitcoin.
• 1:05:30
  And that's because it's absolute scarcity, that's because it's
• 1:05:32
  not controlled by anyone. That's because of its
• 1:05:35
  immutability, that's because of its censorship resistance,
• 1:05:38
  that's because of its decentralization.
• 1:05:42
  So I mean, like simultaneously, I think the ad was over the
• 1:05:47
  target. I think that if you can't talk
• 1:05:49
  about something, you know, there's a problem.
• 1:05:53
  I think how governments are acting are it, it's been quite
• 1:05:59
  interesting, man. Like, you know, I think it's,
• 1:06:02
  it's, it's really taken off the veil.
• 1:06:05
  I think that's what Bitcoin has done.
• 1:06:06
  It's really taken off the veil to what is happening in society.
• 1:06:12
  And that to me is, you know, is, is interesting because the whole
• 1:06:23
  point of a government is for it to represent the needs of the
• 1:06:28
  people, for it to protect private property and for it to
• 1:06:32
  act in your best interests. Like we don't live in a
• 1:06:35
  dictatorship. We live in a government of which
• 1:06:39
  we are supposed to elect and empower in order to represent
• 1:06:44
  our needs. It's been Frankensteined 100%
• 1:06:50
  into something that it's that governments don't act like that
• 1:06:54
  anymore. The way that I see government
• 1:06:57
  acting now specifically sort of here in the US, but not so much,
• 1:07:03
  but specifically in Europe, is that they're just kind of like
• 1:07:07
  go along with it. If you post something on social
• 1:07:10
  media, you're going to jail. If you do something like, you
• 1:07:15
  know, again, let's implement these, you know, these, these
• 1:07:20
  specific cities that you, that you want to live in, you know,
• 1:07:25
  you can't drive certain cars. Like, look, I think the question
• 1:07:30
  that Bitcoin is going to reveal is not what is money?
• 1:07:33
  I think that question, it's getting answered at the moment.
• 1:07:37
  But I think the real, the really big question is what is
• 1:07:41
  government and why am I saying this?
• 1:07:45
  Because we didn't have a better alternative for money before
• 1:07:57
  Bitcoin. Like you couldn't have a private
• 1:08:02
  money or you could have, but let's say that it didn't really
• 1:08:06
  solve things. So people gave that
• 1:08:10
  responsibility to the state, right?
• 1:08:13
  The so the state is the one who's responsible for the money
• 1:08:16
  because the state is supposed to represent the general
• 1:08:21
  population. So you're like, OK, the the
• 1:08:25
  government controls the money. The last 100 years has shown how
• 1:08:32
  many times they've abused that privilege, that power.
• 1:08:38
  Right now we have a money that is stateless and it doesn't
• 1:08:46
  require the government in order to function.
• 1:08:56
  And because of that, it's essentially improved money.
• 1:09:02
  Now where the clash is going to happen, a prediction.
• 1:09:09
  And again, it it, it, it reveals, it takes away the veil,
• 1:09:13
  right? It takes away the veil of
• 1:09:15
  legitimacy because the whole point of which the government
• 1:09:20
  has this power of having money and controlling money, it's
• 1:09:24
  supposed to be for our best interest.
• 1:09:27
  It's supposed to be for the best interest of the people.
• 1:09:30
  But you have Senator Lum is basically saying, listen, I
• 1:09:33
  can't even audit you guys. You guys aren't telling me the
• 1:09:35
  truth. I it's a black hole.
• 1:09:38
  I can't get the truth out of you guys.
• 1:09:39
  What the F is going on the whole legitimacy behind the the
• 1:09:47
  government or the state or the central bank controlling money
• 1:09:51
  is for you guys. It's it's for the betterment of
• 1:09:54
  society, it's for the betterment of the greater good, so to
• 1:09:57
  speak. But if the money comes in, which
• 1:10:01
  is Bitcoin, that is better money for everyone and it's
• 1:10:08
  inconvenient for the state that has been benefiting from abusing
• 1:10:15
  the trust and the power we bestowed to them by being the
• 1:10:19
  caretakers of money. It kind of reveal it.
• 1:10:24
  It moves away the veil because it exposes that they weren't
• 1:10:29
  really interesting and doing a good job.
• 1:10:31
  They weren't really interesting that they weren't really
• 1:10:34
  interested in, you know, being the caretakers of this enormous
• 1:10:39
  responsibility. What they were really interested
• 1:10:42
  in is power and control. And that's the veil that's being
• 1:10:48
  exposed. Like that's, you know, that's
• 1:10:50
  the, the curtain that is being moved.
• 1:10:53
  And I always say this, Bitcoin exposes incentives.
• 1:10:56
  It exposes incentives really, really hard.
• 1:10:59
  So if again, once you're using a Bitcoin standard, everything
• 1:11:05
  around you, how people react to you, how the state reacts to
• 1:11:08
  you, what, what they're really doing is they're, they're,
• 1:11:11
  they're, they're exposing what they really want themselves.
• 1:11:15
  So when you see the European Central Bank saying, hey, it, we
• 1:11:19
  won't be able to continue unless we have a central bank digital
• 1:11:23
  currency, they're telling you the truth.
• 1:11:25
  The part that they leave out conveniently is the fact that
• 1:11:32
  Bitcoin is an improvement to the current system, and it's an
• 1:11:38
  improvement for everybody. So everybody's lives get better
• 1:11:43
  on a Bitcoin standard, not just a bureaucratic and political
• 1:11:48
  elite. Now, what they're trying to do
• 1:11:51
  with their messaging is, is if we lose control of the money,
• 1:11:55
  the world is going to spontaneously combust and the
• 1:11:59
  society's going to fail and you know, it's going to be terrible.
• 1:12:04
  But we've seen that propaganda against El Salvador.
• 1:12:08
  We've seen it before. They said if El Salvador made
• 1:12:11
  Bitcoin legal tender, the economy was going to be
• 1:12:15
  unstable. It was going to be a disaster.
• 1:12:17
  And then again, coincidentally, El Salvador has the most popular
• 1:12:21
  president in the Americas and their economy is booming.
• 1:12:27
  And they basically made Bitcoin legal tender.
• 1:12:29
  They had to walk it back a little bit because of the IMF,
• 1:12:31
  but they had Bitcoin as legal tender.
• 1:12:33
  So none of their predictions came true.
• 1:12:38
  So again, this isn't about, this isn't about and, and please,
• 1:12:43
  like, remember this guys, embrace this, internalize this
• 1:12:47
  because when they start attacking this, just remember
• 1:12:52
  they're going to come at it from this is for your own good.
• 1:12:58
  But what you have to understand is it's it's not for my own
• 1:13:02
  good. It is for your good.
• 1:13:06
  Because if you are a Gen. ZR, if you are a millennial, you
• 1:13:10
  are poorer than your parents, full stop.
• 1:13:15
  People my age cannot afford to buy a home and start a family,
• 1:13:22
  full stop. And the only thing that is 100%
• 1:13:27
  responsible for that, it's not capitalism.
• 1:13:32
  It's not because you didn't vote in the red party or the blue
• 1:13:36
  party. It is literally caused by the
• 1:13:39
  wealth inequality that happens when the central bank prints
• 1:13:45
  money and debases the currency. If you are in the lower middle
• 1:13:50
  classes, you are saving and earning in Fiat.
• 1:13:54
  When they debase the currency, your earnings and your savings
• 1:13:58
  lose purchasing power. If you are very wealthy and you
• 1:14:03
  have the privilege and you have the means to save in assets,
• 1:14:07
  when they print money, the asset values go up.
• 1:14:11
  That's where the wealth inequality is coming from.
• 1:14:15
  So their system, the Fiat system, is the cause of a lot of
• 1:14:21
  the suffering that people are going through these days.
• 1:14:25
  And what they're arguing for is basically, let's keep it going.
• 1:14:29
  Let's keep that system going because it's for your own good.
• 1:14:34
  Don't worry, you're going to own nothing and be happy.
• 1:14:37
  Everything is going to be fantastic and fabulous and
• 1:14:41
  incredible. I'm sorry, I don't believe you
• 1:14:44
  anymore. I've been living on a Bitcoin
• 1:14:47
  standard. It's been fantastic.
• 1:14:50
  Opti could say the same thing. If you switch over to a Bitcoin
• 1:14:54
  standard, you'll be like, wow, things don't need to get more
• 1:14:58
  expensive. Things actually get cheaper.
• 1:15:01
  As Jeff Booth says, the natural state of the free market is
• 1:15:05
  deflationary. Things should get cheaper as
• 1:15:09
  time progresses, but things have been getting more expensive.
• 1:15:13
  Why is that? Because the government's
• 1:15:16
  manipulation and control over the money.
• 1:15:19
  That is the single 'cause it isn't politics, it isn't the
• 1:15:23
  person in power, it isn't anything else.
• 1:15:25
  It isn't the economic model, is it?
• 1:15:28
  It isn't any of that. It is literally because we are
• 1:15:32
  live in a society with broken money.
• 1:15:34
  And Bitcoin fixes this. I'm done, I'm done.
• 1:15:40
  It's over. I'm done.
• 1:15:41
  Opti, what's your take? You know I was just letting you
• 1:15:45
  cook bro. The chat's loving it.
• 1:15:47
  This is why they come to the show is when Nico goes bug eyed
• 1:15:50
  and goes full of Nico Jones on it.
• 1:15:53
  Great ran. Great ran.
• 1:15:54
  Love it. I do want to kind of bring up my
• 1:15:57
  conspiracy theory here on what happened on Friday, bro.
• 1:16:02
  So look, we're going to take Brian Armstrong's word as true
• 1:16:05
  that he got banned in the UK. And why?
• 1:16:10
  Would Why would he lie about that?
• 1:16:11
  I mean, I don't know. I'm just saying I'm, I'm taking
• 1:16:13
  that as the given here. OK, this is this is the given
• 1:16:15
  here. And so on Friday when we played
• 1:16:19
  the ad, I saw it live while we were doing the show and we just
• 1:16:24
  had like a huge drop off on viewers.
• 1:16:26
  And usually that never happened. Like we've never, I don't think
• 1:16:29
  we've ever lost 100 plus viewers in well, actually only during
• 1:16:32
  the meme review for everyone on Rumble, only during.
• 1:16:36
  The Meme Review. Do we lose 100 plus viewers at a
• 1:16:39
  time but mid show? I don't think we've ever really
• 1:16:42
  had 100 people drop off during the show and over the weekend,
• 1:16:47
  you know, we were watching the numbers on, on all of our stuff
• 1:16:50
  and we, we had a great run. We had like a month of just
• 1:16:54
  killing it on a show. And this is the worst performing
• 1:16:57
  show we've had in a long time. And I was just kind of talking
• 1:17:01
  to Nico and we were just chatting about what actually
• 1:17:04
  happened. I'm like, I think, I think it
• 1:17:05
  was just like, people don't like musicals, dude.
• 1:17:08
  Like, I, I just don't think people really connected with
• 1:17:10
  that ad because we had such a hard time kind of getting people
• 1:17:14
  back into the show and maintaining our our kind of
• 1:17:16
  usual viewership on the show. And I was like, OK, like that,
• 1:17:21
  that ad just kind of naked us. Now with this updated
• 1:17:24
  information, I am going to kind of speculate and go, you know,
• 1:17:27
  put my 10 foil hat on here. But maybe just maybe the algos
• 1:17:33
  picked up that ad. And considering that the UK is
• 1:17:35
  kind of stopping a lot of free speech and if they did ban that
• 1:17:39
  ad, of course, you know, over the target, maybe that's one of
• 1:17:43
  the reasons why the show didn't do as well as we thought it was
• 1:17:46
  going to do. Like it was it's a solid show.
• 1:17:48
  But that ad just for various reasons now apparently just
• 1:17:52
  killed on Friday's show. And so one again, just kind of
• 1:17:56
  the Occam's razor here was just people didn't like the ad and
• 1:17:59
  our numbers didn't do that good by the end of the show.
• 1:18:02
  But a secondary reason could be just, you know, maybe they maybe
• 1:18:06
  that ad kind of got flagged here and This is why the show didn't
• 1:18:10
  get pushed as hard as it should have on Friday.
• 1:18:13
  So just some interesting speculations here on the show in
• 1:18:17
  high insight of what actually happened.
• 1:18:19
  And if again, you know, Brian Armstrong, I don't think has a
• 1:18:22
  reason to lie that it was banned in the UK, which is absolutely
• 1:18:27
  insane. Also like that it was very very
• 1:18:31
  vanilla AD like there wasn't even a call of action at the end
• 1:18:36
  of. It it was literally a musical.
• 1:18:37
  It was a musical, but of course we we all know.
• 1:18:41
  Again, I've been saying it for a minute, The E is cooked.
• 1:18:47
  Yeah, like, what more evidence do you need?
• 1:18:50
  But yeah, no, that's crazy. I think that.
• 1:18:53
  I think that explains. Can't even release a musical,
• 1:18:55
  bro. Dude, you can't even talk.
• 1:18:56
  Can't you can't even release. Well, to be fair, they shouldn't
• 1:18:59
  be releasing musicals at all anyways, but you know.
• 1:19:03
  Hey bro. I'm trolling.
• 1:19:04
  I'm trolling. Some people totally like them.
• 1:19:07
  I'm totally trolling, guys. I'm trolling.
• 1:19:10
  I'm but anyways, guys, it's going to be a great show we.
• 1:19:14
  Tommy. We have tons.
• 1:19:16
  The wall we have, we have tons to talk about.
• 1:19:19
  We're going to be right back in just a second.
• 1:19:23
  Let's check out the culture. Opti's got something to talk
• 1:19:25
  about. I want to give a shout out to
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  OK, guys, we're here for the culture and this is totally
• 1:21:35
  about the culture. So here's the headline and I'm
• 1:21:39
  just going to start here because you guys can kind of see the
• 1:21:43
  statue. So if you guys didn't hear over
• 1:21:45
  the weekend, if you weren't online over the weekend, the
• 1:21:48
  Satoshi statue in Lugano was vandalized and it, you know, it,
• 1:21:55
  it literally disappeared for a while.
• 1:21:58
  Here's Yahoo Finance, they're kind of covering it.
• 1:21:59
  And I, I really brought this up so you guys can kind of get a
• 1:22:02
  refresher of what it looked like.
• 1:22:04
  And then here's what happened. So someone was over there and
• 1:22:08
  this was Saturday, I believe. And it goes, hey, Plan B network
• 1:22:12
  where the F has a Satoshi Nakamoto statue gone And it just
• 1:22:18
  completely disappeared. It just was gone for a while.
• 1:22:21
  No one knows what happened to it later.
• 1:22:24
  They did find it. It was missing.
• 1:22:26
  It was recovered from I believe, the lake here.
• 1:22:29
  And you can see here the video of them kind of pulling it back
• 1:22:33
  together, getting it back on, you know, getting out of the
• 1:22:37
  lake here. Actually, let me zoom in a
• 1:22:38
  little bit and you can see they did recover the statue and I'm
• 1:22:44
  not sure if they're going to put it back up yet, but we did.
• 1:22:47
  They got to fix it. Yeah, they got to fix it.
• 1:22:49
  But, you know, again, the statue disappeared.
• 1:22:52
  They did a you know, million 10 million sets of Bitcoin for its
• 1:22:56
  return. It turns out it was in the lake
• 1:23:00
  and we no one knows really who did it what happened, but I do
• 1:23:04
  like this symbolism here from grubbles.
• 1:23:06
  He goes there is some symbolism to the Satoshi statue being
• 1:23:09
  destroyed by some vandal. You literally can't even have a
• 1:23:12
  symbolic representation of bitcoins creator because it will
• 1:23:15
  be targeted and destroyed. The only way is disappearing
• 1:23:19
  completely past present and future and then he trolls with
• 1:23:22
  bits instead of sad. So, you know, Grubbles very,
• 1:23:25
  very, very loyal to the SAT's verse bits debate here.
• 1:23:30
  But let me here, I'll just go back to this picture while we
• 1:23:32
  kind of chat about it. So this is what it currently
• 1:23:36
  looks like. You know, when I first saw this,
• 1:23:40
  I don't, I, I, I really like what Grubble said, you know,
• 1:23:44
  makes you kind of think deeper. I don't necessarily think that
• 1:23:47
  that's the case per SE. It could just be some young kids
• 1:23:50
  that really just are vandalizing stuff and don't really know the
• 1:23:55
  significance of it, which is, I think could be one of the
• 1:23:57
  things. Though, if you do take kind of
• 1:23:59
  the more nefarious act here of someone purposefully destroying
• 1:24:03
  the Satoshi statue, it really does kind of sum up where we are
• 1:24:08
  in the story right now, where even though I think a lot of
• 1:24:12
  people hear or have heard about Bitcoin, very few people still
• 1:24:16
  take what we're doing seriously. They kind of laugh about this
• 1:24:20
  whole thing. They still think it's Internet
• 1:24:22
  nerd money. It's, you know, an Internet
• 1:24:24
  token. No one really takes what we're
• 1:24:27
  doing that seriously here. That's kind of the more cynical,
• 1:24:31
  more pessimistic take of this. And of course, you could, you
• 1:24:35
  could put your tinfoil hat on as much as you want and, and talk
• 1:24:38
  about who these potential people could be that are destroying the
• 1:24:42
  statue. Is this some kind of organized
• 1:24:44
  attack on on the statue itself? And, and I'll go back here.
• 1:24:47
  You know, you can see it with got found in the lake, etcetera.
• 1:24:51
  But this was kind of like the big story going around in the
• 1:24:54
  culture right now. And it really makes you wonder
• 1:24:55
  about the cultural zeitgeist around Bitcoin right now.
• 1:24:59
  Of course, this was kind of like an awesome thing.
• 1:25:01
  A lot of Bitcoiners really like the statue and they're like,
• 1:25:03
  man, this is so cool. You know, Satoshi should have
• 1:25:07
  the Nobel Peace Prize and we got a statue of them.
• 1:25:09
  We don't really know who it is. It was pretty, you know,
• 1:25:11
  cyberpunk, etcetera. And like the way you look at it,
• 1:25:13
  you can't really see it's a whole statue.
• 1:25:16
  But it is interesting to see it get vandalized and really kind
• 1:25:20
  of pinpoint what the intentions were behind vandalizing it.
• 1:25:25
  Was it? I mean, it doesn't look like it
• 1:25:26
  was an easy vandalize, you know, mission here.
• 1:25:31
  It looks like it took a lot of effort to break this thing down.
• 1:25:34
  So it makes you wonder who did it?
• 1:25:35
  Was it some young kids that were just messing around?
• 1:25:38
  I know when I was younger, I probably did some dumb stuff.
• 1:25:41
  That could be one of the reasons.
• 1:25:43
  The other reason is, you know, I guess maybe they just don't like
• 1:25:46
  Bitcoin here. But it was me.
• 1:25:51
  Where was he? Where were you last week?
• 1:25:53
  No, it wasn't me, bro. I I'm I'm Satoshi did it.
• 1:25:56
  That's good. That is good.
• 1:26:00
  Yeah. I don't know, man, but that that
• 1:26:01
  happened over the weekend. So someone attacked the Satoshi
• 1:26:05
  statue. This is what it looked like
• 1:26:08
  originally. And then this is where it popped
• 1:26:11
  up on That's crazy on the timeline, that's crazy.
• 1:26:16
  So who knows what really happened.
• 1:26:18
  But yes, that's what. Happened.
• 1:26:20
  This is, you know, I'm pretty sure I know what.
• 1:26:23
  Happened. I'm going on.
• 1:26:25
  I know what. Happened.
• 1:26:26
  All right. So Chrissy Lagarde had a night,
• 1:26:31
  you know, she had a night on the top, Did a good time.
• 1:26:35
  Yeah, we did Lugano. And she went out, you know, and
• 1:26:43
  she was walking, you know, the the beautiful park that they
• 1:26:46
  have by the lake. And she saw the Satoshi statue
• 1:26:50
  and she got very upset. You know that's what happened.
• 1:26:53
  Yeah. You know, she just, she was
• 1:26:56
  like. Yeah, this is a good point.
• 1:26:58
  They need a crane to lift it. I don't think it was one guy.
• 1:27:01
  I don't think this was kids. There's I don't.
• 1:27:03
  Think Christine Lagarde could do this herself?
• 1:27:05
  It's like a heavy metal statue. Do you think this was
• 1:27:07
  coordinated? I think this was that's.
• 1:27:09
  That's kind of that's, that's kind of what I'm insinuating.
• 1:27:12
  But to destroy the symbolism, dude, I mean, that's hardcore
• 1:27:16
  bro. That's not this isn't child's
• 1:27:19
  play dude. Like this is real, you know?
• 1:27:24
  Anyways, all right guys, if you guys enjoyed the show, you know
• 1:27:26
  what to do. It's August 4th, 2025.
• 1:27:29
  I'm your host Nicos, my legend, your Co host Optimus Fields.
• 1:27:31
  If you guys enjoyed it, smash the like button.
• 1:27:33
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• 1:27:36
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• 1:27:39
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  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:27:46
  mission to enable financial independence.