Latest / Simply Bitcoin / Forget $123,000 Bitcoin, $1.5M by 2027 is Coming!? | EP 1287

Transcript

Forget $123,000 Bitcoin, $1.5M by 2027 is Coming!? | EP 1287 · Simply Bitcoin

0:00
Most people think $1 million Bitcoin in 500 days is crazy.
0:05
I know Nico does. But one of the most connected
0:07
Bitcoin investors just dropped a new huge Bitcoin price
0:11
prediction that you need to hear.
0:13
And as you watch this clip, just remember Kathy Woods was
0:17
predicting 500K by 20-30 only 12 months ago and she is getting
0:23
more bullish. Why has her view for Bitcoin
0:26
changed so much in the last 12 months?
0:28
Well, let's play the clip and we'll watch it and we'll break
0:31
this down. Here we go guys.
0:33
Let's check this out. We have all kinds of metrics,
0:38
but when I was at abundance the the forecast was our bull case
0:46
was $1.5 million in five years. So that would have been 2027.
0:51
We still have time and and we still think that's going to be
0:55
right. If you just look at the
0:57
institutional push into Bitcoin, this new asset class, they have
1:04
to consider it as fiduciaries. When you use that those code
1:09
words new asset class, what it means the correlation of these
1:13
returns are very low compared to those of other assets.
1:19
Especially as as bonds and stocks are becoming more
1:21
correlated, you need something uncorrelated.
1:23
Yes, absolutely, absolutely. And so they have to consider it
1:27
now what are we saying? There are 19.6 million Bitcoin
1:32
out there right now and the highest it will ever go is 21
1:36
million. Well, OK, there's real scarcity
1:40
value and what what is going to happen?
1:43
The price increase for every institutional dollar pushing in
1:49
now is going to be much higher than it was last year, two years
1:55
ago. It's you know, we're going to
1:57
get into if these institutions really want to own it.
2:02
What I found fascinating recently, just learned it this
2:05
morning, is typically when you go through a a price move, a
2:09
Bitcoin price move to the upside, you usually see long
2:14
term holders, which is a metric we monitor.
2:17
It's an on chain analytics metric and it means people who
2:23
have not moved or wallets that have not moved their Bitcoin in
2:27
155 days or. More.
2:30
Yes. Well, normally when you go
2:32
through a price move to the upside, a very nice one like
2:35
we've seen in the last year, that tends to start moving down.
2:40
And it did that true to form. But it has reversed in recent
2:45
days because what we learned is GBTC sold some of its Bitcoin.
2:54
So that was those wallets hadn't been changed in a long time.
2:59
Right now that is done, at least for the time being.
3:02
Now that is done and it's going back up again as the price goes
3:08
up. That's highly unusual and I
3:11
think it is because the long term holder saying why would I
3:16
sell now when I know all these institutions which own nothing,
3:22
own nothing in this realm, in this new asset class.
3:25
They have to consider it because it is a new asset class.
3:30
I have friends of mine who. There you go, guys.
3:34
You heard it here first. What we've been saying, I think
3:39
it's playing out as Bitcoin price goes up, more people
3:42
realize, hey, why should I sell this thing?
3:44
And as more institutional money comes in, you kind of get stuck
3:49
in the feedback loop where we all know as Bitcoin holders,
3:52
you're like, I don't want to sell this thing at all.
3:54
Why am I going to sell this thing for this, You know, funny
3:57
money. These IO us from the government.
3:59
Well, it seems like that positive feedback loop is
4:02
playing out in real time. Now let me show you her original
4:06
prediction here 'cause we have been showing this on the show
4:09
for a while. Oh, Nico took me off here and
4:13
you can see how much more bullish she got in the last.
4:17
When did this drop? This was the beginning of the
4:20
year, couple months ago now and this was her kind of, you know,
4:23
base case, bearish case, bullish case.
4:26
And it looks like she is moving this up by years, the same price
4:30
prediction, but moving it up by years, which is all kind of what
4:35
we're all wondering. Are we seeing this step pattern
4:38
play out in this price movement? Are we never going to see a bull
4:42
mark or a bear market again? Are we seeing the Super cycle?
4:45
I'm still on the fence of four year cycles playing out.
4:48
But anyways, the the price targets here and of course these
4:50
are 2030. So she said, you know, five
4:53
years ago she was predicting in 27 or 2027 we'd see 1.5 million.
4:58
ARC dropped this one the beginning of this year saying
5:01
1.5 million by 2030. Her bare case was 300 K by
5:06
20-30. It seems like she's completely
5:08
abandoned that one. Her base case was 710,000 by
5:12
2030, which I think that is now her bear case, I would say.
5:18
And her bull case of 2030, a 1.5 million is now moved up by three
5:25
years. Again, a lot of what we're
5:27
seeing right now is there is a whole new breed of Bitcoin buyer
5:32
and it is the institutions. And we actually got a pretty
5:35
interesting kind of news story coming out this morning.
5:38
Remember Vanguard, they were, you know, infinite infamously
5:43
the ones that said when the Bitcoin ETF dropped, oh, we're
5:46
not going to do this, the CEO stepped down.
5:49
All of us Bitcoiners were like they stepped down because they
5:52
didn't buy Bitcoin and they saw the BlackRock Bitcoin do really
5:55
well. Well, check out this, this is
5:58
Matthew Siegel on Twitter and it goes Vanguard Bitcoin is
6:01
immature and has no value. Also, Vanguard buys 20 million
6:04
shares of MicroStrategy becomes a top backer of Bitcoin's
6:08
loudest bull. Indexing into $9 billion of what
6:12
you openly mock isn't strategy, it's institutional dementia.
6:16
So what Kathy Wood just said is happening in real time.
6:20
The institutions are here. Remember Nico, we were here in
6:23
20/17/2020. The kind of cope we had in 2018
6:28
when the price was dumping was the institutions are coming,
6:31
guys, they're going to pump our bags.
6:33
It never came. In 2021, we kind of got this
6:36
double top play out. We were all wondering what's
6:39
going on. Of course, Sailor was just
6:41
stepping into the market, excuse me.
6:44
And now it looks like the institutions, whether they're
6:48
admitting it or not publicly, privately, they are getting
6:51
Bitcoin exposure. And this is obviously what we
6:55
say on the show constantly. Don't listen to what they say.
6:57
Watch what they do now, of course Vanguard doesn't have
7:01
full Bitcoin spot exposure. They don't have an ETF, but it's
7:05
safe to say if they're buying micro strategy, you know they
7:08
want the games and two, they're tactically approving of strategy
7:11
because everyone knows all sailors doing is buying Bitcoin
7:14
or leveraging to buy more Bitcoin.
7:16
Now she did mention in, you know, some huddle charts, people
7:20
doing huddle charts here. And so I got the 10/1 I don't
7:23
know exactly which one she was looking at.
7:25
Got a few here. We we can kind of jump through a
7:28
few of these. The 10 year huddle chart, you
7:30
can see, you know, since 2019 it is going up now.
7:34
Let me go back here to we'll go five year just to kind of play
7:38
out since 2020 kind of similar scenario play out.
7:42
They they're they're going up. There is a little dip here at
7:45
the very end and that's probably this most recent price movement.
7:50
But as you can see, Bitcoin over the weekend had a great, great
7:54
jump. You know it it statistically.
7:57
Yeah, there you go. Be a price percentage.
8:01
It probably wasn't that much. I know it only went what about
8:04
345 K, but I think these moves now are making a lot more of an
8:11
impact considering that every new move from Bitcoin from here
8:14
on out is really starting to eat in at the biggest asset market
8:18
caps as I have here. I think everyone saw this this
8:22
morning or over the weekend. Bitcoin has officially surpassed
8:25
Amazon as the 5th largest asset by market cap.
8:29
It is, you know, kind of pumping a little bit this morning.
8:33
Coin did kind of retrace a little bit, but it seems like we
8:36
are securing that fifth spot and also we did see that Bitcoin is
8:43
now the 8th largest currency by market cap as well.
8:48
About to catch up to. I forget what the Hong Kong
8:51
dollar is. Do you remember what the Hong
8:53
Kong name is? Their currency?
8:55
I forget what the name is right now, but we saw again an
8:59
incredible short liquidation over the weekend.
9:02
We covered it on Friday. Well, it happened again.
9:05
And This is why Bitcoin ripped to 1:23-ish.
9:08
It's down to 120 right now. But as Joe Joe Consorti was
9:11
saying on Twitter, $1.3 billion in shorts were liquidated in
9:15
less than 60 seconds. Bitcoin skipped straight past
9:19
120 and went directly to 121. It actually went up to 123.
9:23
At 2.39 trillion. We're at 2.4 ish.
9:26
Bitcoin is now officially larger than Amazon and it's the world's
9:30
fifth largest asset. Remember this day, guys, We are
9:32
making history every single day. And as VJ said, you know, 1.3
9:37
billion in shorts blown up in Bitcoin, only up 1000.
9:40
Sometimes it's easy to forget how big Bitcoin's market cap is
9:43
now. It's now a pool large enough for
9:45
the big dogs to jump into. And I think if you put all of
9:48
these stories together, this is kind of what we're seeing.
9:51
As Kathy Wood was saying, now the institutions are getting
9:54
familiar or rather rather comfortable with Bitcoin.
9:58
Bitcoin is maturing. It's a, it's holding a very
10:00
strong $2.4 trillion market cap. Now is a signal for a lot of
10:06
people. Obviously they're going to come
10:07
to chase gains, but now they understand, hey, I can, I can
10:12
put a sizable position into Bitcoin and I'm not going to
10:15
move the price too much. And as this information starts
10:18
to trickle into the economy or rather into the investor
10:21
circles, I think I think perma bear Niko over here is going to
10:25
start turning bullish. And one last metric before I
10:28
pass it over to Niko. We saw officially that gold and
10:31
Bitcoin are now the top performing major assets so far
10:35
in 2025. This was actually a few days
10:37
ago. This has flipped a Bitcoin is
10:39
now performing better than gold was.
10:42
I think it's something like Bitcoins at plus 30% this year
10:45
and gold is roughly around that 28%.
10:48
So guys, we've never ever seen gold and Bitcoin be the number
10:54
one and #2 spots in the for any calendar year.
10:57
And this is where we are right now.
10:59
Now, as someone that is more of, I guess kind of watching the
11:04
geopolitical Fiat ramifications going on, a lot of Bitcoin
11:09
doomers out there are saying, you know, the dollars losing and
11:12
purchasing power like right now is a signal for people to get
11:15
into Bitcoin. But if you put these two
11:18
contacts together, gold and Bitcoin are performing the best.
11:22
When these two perform, it really means people are
11:24
concerned with treasuries. They don't really want the
11:27
stocks right now because bitcoins outperforming.
11:30
Is this a sign of some bigger catastrophe in the system?
11:35
We don't know yet. All we really know is Bitcoin is
11:38
on the verge, I think of doing some incredible moves by the end
11:41
of the year. We don't know what's going on
11:43
with the Bitcoin structure, but we do know it is going up.
11:47
It's blue skies right now, so I'm hoping you're still
11:50
stacking. I hope you didn't sell at one.
11:53
What was it, 113 or something? I actually, I've been telling
11:56
the story of one of my buddies. He might be in the chat.
11:59
I haven't seen the chat right now and I was telling you he, he
12:02
kept telling me 120K top dude, double top bro.
12:05
I texted him this morning. I'm like, so what's up with
12:08
1120K by the end of the year? And now he's flipped completely
12:12
bullish and he's like, we're going to 483 and a year and I'm
12:15
like, bro, don't play with me here.
12:17
I you were just bearish 2 days ago.
12:19
He's like, dude, I've been bullish the whole time.
12:21
Anyways, the point of that story is sentiment can switch really
12:25
quickly. And yes, we all been kind of
12:28
wondering where is the retail coming from?
12:30
Is the ETF taking a lot of the retail momentum or are we going
12:34
to see a retail FOMO like 2017? I think now is the time, well,
12:39
where we're going to start seeing that.
12:41
Who knows at what price people are going to really start
12:43
following into Bitcoin. But this is the fun, guys.
12:46
This is the time we've been waiting for.
12:47
This is when we're vindicated. Remember, this is when we're
12:50
geniuses for a couple of months. This is when you can go tell
12:53
your friends and family. See, I told you I was right.
12:56
And hey, as Nico was saying on Friday, I'm not really euphoric
13:00
yet, but I am starting to get the tingles.
13:04
I am starting to feel a little better about it.
13:07
So hey, I'm starting to feel good.
13:09
You guys already know. I've been telling you for a
13:10
while I'm gonna be extremely bull tarted on the show as this
13:14
year progresses. So I'll need Nico to kind of
13:16
temper me and you guys in the chat to be like, all right, off
13:19
to you. When I start getting crazy guys,
13:22
this is probably when we're getting near a top here again,
13:25
as my heuristic is, is when you start pricing your net worth in
13:29
like the, the yachts and the supercars you can buy.
13:31
That's probably when we're getting near the top.
13:33
So just keep these things in mind guys.
13:35
This end of the year, I think it's going to be fun.
13:38
I think I think this is what we've all prepared for.
13:40
This is this is what we've been waiting for.
13:42
And I know we were we were kind of bored and maybe our our time
13:45
preference was a little high at the beginning of the year, but
13:48
this is This is why we're here guys.
13:49
It, it took, you know, since 2021, four years for us to get
13:52
here. We're finally here.
13:54
Maybe we don't know the timing on this, but we do know where
13:57
it's going. It's going up forever, Laura.
13:59
So that's my take here. It's going up forever.
14:02
I do also want to give a shout out to the live stream 1500 of
14:06
you guys watching live between YouTube and X and of course,
14:09
shout out to the rumble audience coming in strong.
14:12
If you guys are enjoying today's live stream, make sure to smash
14:15
that like button. Help us break 150 likes within
14:19
the first half hour of the show. Also Opti, I don't know if you
14:23
mentioned this, but ladies and gentlemen, all time high during
14:29
the weekend we hit 100 and 123 K at 359.
14:39
Gentlemen, $123,000 Bitcoin. These moves are surreal because
14:48
I remember, you know the epoch that me and Opti got in
14:52
20/16/2017. You know the the whole cycle
14:58
consisted of a move of Bitcoin going from AK TO20K, right?
15:04
It was like, it was a 20K move. Now 20K moves are boring,
15:10
basically like 20 K Bitcoin moves are just, you know,
15:14
they're uneventful. Like you're just like, oh, like,
15:17
you know, like, that's cool. But yeah, like, congratulations.
15:21
I, I got to, I've I've been getting calls from, you know,
15:24
family members and whatever. And they're like, look like,
15:26
like you got this right, your conviction and a lot of it came
15:31
from the fact that they've jumped on the Bitcoin train
15:34
finally and they're starting to finally experience their full,
15:37
their first bull market. And if you guys are class of
15:40
2021 and this is your second cycle, or perhaps you guys are
15:43
class of 2024-2025, yes, this is what you live for.
15:48
Like the Bitcoin cycles, the way they work is there is really
15:54
four months, maybe 5 out of four years that you're living for it.
16:00
That's it. Like that's really where all the
16:03
action happens the rest of the time.
16:05
It's like all quiet on the Western Front.
16:07
You're, you're basically just sitting there, you're huddling
16:11
and it feels like the price is just going sideways for
16:15
eternity. Like that's what it feels like.
16:17
And you know, this is vindication.
16:21
This is this is what winning feels like.
16:22
It feels really, really good. But what I was telling my
16:25
father-in-law this morning, you know when or last night when we
16:28
were celebrating that Bitcoin broke 120, Ki said.
16:31
Like, look like the party's just getting started.
16:34
It seems like Bitcoin is falling all previous cycles.
16:38
It seems like Q3 and Q4 of 2025 are going to be explosive.
16:45
Now what we I'm. Going to bring that up, Mika,
16:47
keep going. Now what we don't know is where
16:50
the price is going to end up. Now to kind of connect that what
16:53
with what Kathy Wood is saying, this is one of her previous call
17:01
outs and this was I believe from December 31st, 2024 and her base
17:07
case for 20/30 was 1.2. She moved that to 2027 or was it
17:15
2028? 20/27/20. 27 to 1.5 right and
17:21
this is the kind of the updated version, right of the of the
17:27
kind of like the the targets and she's moving her her bull case,
17:32
right? She's moving her bull case big
17:35
time right? And I think the reason for that
17:38
is quite simple. Look, as Bitcoins market cap
17:41
increases, it crosses. It crosses thresholds that
17:45
trigger eligibility for institutional investors bound by
17:49
size and liquidity, mandates a larger mag market cap, signals
17:55
legitimacy, reduces perceived risks and qualifies Bitcoin for
18:00
inclusion in indexes, ETFs and large portfolios.
18:05
This draws in capital from pension funds, asset managers
18:08
and sovereign wealth funds creating a feedback loop AKA
18:13
self fulfilling prophecy. Higher market cap attracts more
18:16
capital which drives up the capital market for the market
18:20
cap further. In short, market cap growth is
18:24
the green light institutions need to enter.
18:27
So again it becomes this self fulfilling prophecy.
18:31
The more Bitcoin goes up in value, the more people jump on
18:34
the train and remember 1 of I've been orange peeling people for
18:38
almost a decade now. And again, like I can give them
18:44
the best arguments. Like Fiat is broken, like this
18:50
is the best performing asset. Absolute scarcity.
18:54
There's only 21 million. You could take self custody of
18:58
it. It goes in one ear, it goes out
19:00
the other. The thing that what I've noticed
19:04
has convinced people the most is number go up.
19:10
When number goes up, it becomes undeniable that investing in
19:16
Bitcoin, I said investing, wow, using Bitcoin as your unit of
19:22
account, opting out into Bitcoin is a good idea and it becomes a
19:29
self fulfilling prophecy. And this is the first time that
19:33
institutions are feeling the number go up, right?
19:38
So they're feeling this thrill. Michael Saylor went through this
19:41
process too. He got in 2021, he paid his
19:44
price of tuition. The price went down.
19:46
And then you you see what's happened to his company.
19:50
You see what's happening to strategy.
19:53
I mean, it's gone absolutely parabolic, right?
19:57
So it becomes this self fulfilling prophecy that even
20:00
Tesla, by the way, that kind of had let his hands a little bit.
20:04
They are up. The last time I saw it, I think
20:09
it's like $756,000,000 on the Bitcoin that they bought Tesla
20:16
is up right, $756,000,000 like dude, right.
20:21
So could you imagine when could you pull up that the, the list
20:25
of all the, the big companies that you just had?
20:30
When you, when you see all these companies, right?
20:36
When you see all these companies, right, and you see
20:39
Bitcoin continue to climb. Remember, all these companies
20:43
could keep up with Bitcoin. All they have to do is convert
20:47
some of their assets into Bitcoin, right?
20:51
They're all sitting on boatloads of cash like Berkshire Hathaway,
20:57
Apple, Google, Microsoft, Apple. And as Michael Saylor says,
21:02
they're basically holding melting ice cubes.
21:06
And as Bitcoin continues to grow, they can just benefit from
21:09
it too. They don't even have to put,
21:11
they don't even have to pull a sailor and go 100% in.
21:15
They could just put a percentage like Tesla $756,000,000, they're
21:21
up $756,000,000. Like that's no small feat and
21:26
Tesla just got in relative like not that long ago, right?
21:30
So again, this is the case that sailor keeps trying to make it
21:34
is the superior asset. What are you doing holding
21:37
bonds? What are you doing holding cash?
21:40
You should be holding Bitcoin. And of course, this applies to
21:44
the individual as well. I kind of want to go through
21:46
some of the reactions. This is American Huddle.
21:52
I can't read some of all all of this, but he basically says
21:57
we're at all time highs and his Spidey senses aren't even
22:03
tickling. Prepare yourselves.
22:06
We are going much higher. Who love huddle right here's
22:10
tech lead and he says 120 K is nothing expense exponential
22:16
curves. And this, by the way, is tweeted
22:18
by Vijay Boyapati. So you know, I respect Vijay
22:21
tremendously and he says and he reposted this and he said 120 K
22:27
is nothing. Exponential curves move faster
22:30
and higher price bands. Bitcoin has been on the same
22:34
trend line since 2023. It's it's 200K by end of year
22:39
then 1,000,000 by 2028. Don't paper hand this.
22:44
There won't be a second chance in your lifetime.
22:47
In your lifetime story of your generation.
22:51
I mean, I completely agree. Hey, I want, I want to jump in
22:54
here, Nico, and keep this chart up here because I think there's
22:57
like I saw someone else tweet saying something on the lines of
23:00
like Bitcoin going from 10K to 100K was a lot harder than it
23:04
will be from 100K to a million. It's still a 10X, but as we're
23:08
kind of making the case, as the market cap of Bitcoin goes up,
23:12
more people feel safer investing in Bitcoin or saving in Bitcoin
23:16
or what have you. And these multiples can just
23:19
increase very, very quickly. As we can see, there is a lot of
23:24
concerns going on. And of course, the greed's going
23:27
to take in the FOMA is going to kick in and everyone's going to
23:30
want a piece of this. So I know we have been talking
23:33
about and a lot of Bitcoins have been talking about the law of
23:36
big numbers here, but I think we are kind of underestimating and
23:40
how quickly it can go from 100K to $1,000,000 here.
23:43
I know it's going to take a lot of capital, but if the FOMO
23:47
really does start kicking in, it could RIP really fast.
23:51
Yeah, I 100% agree with you. And yeah, man, I think this is,
23:59
ladies and gentlemen, we are, we are on the verge of greatness.
24:02
This is going to be fantastic. All right, Speaking of *** let's
24:05
pull up this chart, The bitbo one.
24:07
Just, you know, have a little fun here.
24:10
What's going on where we are compared to other cycles.
24:13
I know this isn't tried and true, but we all like to compare
24:18
where we are to the past. As you can see, I am on the this
24:22
is charts dot bitbo dot IO cycle low multiples and I'm I'm might
24:27
need your help on this one. I think so blue is 2013.
24:32
If we get to those levels, that's that's going to be
24:35
insane. What is it?
24:37
Is this orange? Orange is 2018 again?
24:42
If we follow that cycle, which I literally did the math this or
24:46
not the math I did, you know, some chart bowling and that
24:48
would be like 1.3 mil. And then the 2021, if we get
24:53
around there, it would be a very disappointing bull market again
24:57
and it would be I think around 150 K.
25:01
It looks like, you know, as much as we've been saying the it's
25:06
been boring and maybe this cycle is different, this cycle is kind
25:10
of lining up pretty good compared to all the other
25:13
cycles. Now will, where will we end up?
25:16
Will we get past the 2017 high? You know, will we only hit the
25:19
2021 high? I don't know.
25:22
But it looks like the next couple 100 days going into the
25:25
end of the year or maybe around Chris, maybe we get a very
25:29
beautiful Christmas time here. But we should see some fireworks
25:33
play out. Now, Nico, I do want to point
25:35
out something that you said, and it's this metric here.
25:39
This is absolutely nuts, as Nico was saying about the asset
25:42
market caps. We're starting to inch closer to
25:46
Apple. We're starting to get into the
25:49
biggest market cap companies period, and as Bitcoin climbs
25:54
that ladder, these companies are going to have to very seriously
25:57
take into consideration Bitcoin. Now, the thing that I think
26:02
they're going to be looking at is this chart right here, and it
26:06
is for every $1700 move in Bitcoin, MicroStrategy or
26:12
Michael Saylor prints $1 billion in unrealized games.
26:16
Again, for every 1700 move, dollar move in Bitcoin,
26:20
MicroStrategy is printing $1 billion in unrealized games.
26:24
If you're one of these top corporations, top CE OS
26:28
billionaires, you're looking at this and you're like, yo, I want
26:33
some of this for me. So again, this could get
26:36
absolutely insane is all I'm saying.
26:39
When you have these these incredible numbers playing out.
26:43
I don't know, man, this, this might be a very, very extremely
26:48
positive feedback loop is all I'm saying.
26:50
Anyways, that that's my takes on this Nico.
26:54
Yeah, absolutely, man. I mean, I think that again, the
26:56
best is yet to come. Ladies and gentlemen like I keep
26:59
saying and you know you better bunker down because I think you
27:03
know the end of the year is going to be it seems like
27:06
Bitcoin is we're back at 120,000 by the way, and I think the end
27:12
of the year is going to be explosive to say the least
27:17
anyways ladies and gentlemen before we move on to next
27:20
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At the time of recording the Bitcoin prices $120,360.00.
31:16
That feels nice to say that. Block height 905,535 SAT's per
31:22
dollar 830 One market cap 2.39 trillion Bitcoin verse gold
31:27
market cap 10.16% Decline from all time high -2.3%.
31:34
Realized monetary inflation .85%.
31:38
And the did that go up? What's it at .84?
31:40
I know that's so. Weird, I thought it hit .8.
31:42
Three and the grand scheme of things, we are just getting the
31:45
party started anyways, Speaking of that, alluding to that, I, I,
31:51
I know what a lot of you guys might be thinking, which is
31:54
basically like look, Nico, like I might have missed this train
31:57
bro, like you know, like dude, like fuck, like, you know
32:01
bitcoins at $120,000, excuse my language, I'm sorry, bleep it
32:05
out Beep. We missed this train dude, like
32:08
$120,000 Bitcoin, like I can't afford that.
32:13
It's too much money. Well, here's this great post by
32:16
Safideen. Safideen says no, you did not
32:20
miss the Bitcoin train. We are just getting started.
32:24
Just because Bitcoin went up a lot does not mean it cannot go
32:28
up a lot more. On the contrary, the more it
32:32
goes up. Thank you, Opti.
32:35
The more it goes up, the more it demonstrates product market fit,
32:39
the more likely it is to go on, go up.
32:42
That's what I was telling you guys in the beginning.
32:44
Bitcoin is different from stocks, bonds and commodities
32:47
because it has a much, much larger addressable market.
32:51
Let's compare. Apple's total adjustable market
32:55
is 8 billion people who can own an iPhone and laptop.
32:59
A lot of them already do. A lot of them are too poor, so
33:03
there's just not much more room for growth.
33:05
Maybe Apple can increase by 5X or 10X, but it would need to
33:09
introduce new products that are wildly popular to do so, which
33:13
is very difficult. Difficult.
33:15
Ultimately, an Apple stock is a claim on cash flow, and it is
33:20
priced based on expectations of Apple's cash flow.
33:24
It is not easy to continue to increase cash flow once you're a
33:27
trillion dollar company. But Bitcoin is money.
33:31
It's total addressable market is all of the planets cash balances
33:35
which currently includes something in the range of 100
33:38
trillion in physical government cash and checking and saving
33:42
bank accounts. Plus 120 trillion in government
33:46
bonds, 22 trillion in gold, and arguably a chunk of the world's
33:51
real estate and stock markets which people are holding to beat
33:55
inflation and not to take a risk in search of return.
33:59
All in all, Bitcoins total addressable market is in the
34:02
range of 200 to 300 trillion, which is about 100 times larger
34:07
than what it is now. All of these assets are trash
34:11
compared to Bitcoin and there is no and there is no reason for
34:15
anyone intelligent to hold a significant position in them.
34:19
Everything held in assets has lost 90% of its value against
34:23
Bitcoin in the last five years, and it will likely keep losing
34:26
another 90% every few years. The only things maintaining
34:30
significant demand for these assets at this point are their
34:34
holders at old age, intelligence, efficiency, and
34:38
susceptibility to government propaganda.
34:41
They can continue to hold these assets as a decline, making them
34:44
poorer, or they can shift to Bitcoin and start getting
34:47
richer. Either way, regardless of what
34:50
they do, the world's wealth is going to end up in the hard
34:53
money and not in the obsolete monies of the 12 of the 12 20th
34:59
century. Thank you.
35:01
Bitcoin has no cash flow to price it.
35:03
Most no coiners think this makes it a Ponzi, but that is only
35:08
because they have never experienced real money and only
35:12
as a frame of reference the hot potato trash Fiat money which
35:16
everyone smart tries to exchange for heart assets as soon as they
35:20
can. They're in incapable of
35:22
understanding people demanding to hold money for its own sake,
35:26
for its ability to hold value, and not for cash flow.
35:30
This is how gold became money of the world without generating any
35:34
cash flow. And This is why Bitcoin, which
35:36
is infinitely better money than gold, is going to continue to
35:40
monetize and grow. None the less, Bitcoins demand
35:44
is highly variable and with leverage, it will likely
35:47
continue to be significantly volatile for the foreseeable
35:50
future. So always keep that in mind that
35:53
it could decline significantly and manage your positions
35:56
accordingly. And then he puts a meme, I think
35:59
of Frank Sinatra. The best is yet to come.
36:02
And I keep saying that line, ladies and gentlemen, the best
36:06
is yet to come. This is an incredible,
36:09
incredible, you know, summary by Safedeen basically breaking it
36:13
down as to why you are not late to Bitcoin.
36:20
Yeah, I mean, look, I get a lot of friends that say this to me
36:24
and usually I kind of troll them and I just tell them I'm buying
36:28
the tops forever. Like I really just don't care
36:30
what the price is. It's the best thing to save in,
36:32
period. What else are you gonna save in
36:35
iOS from the government or I'm sure none of them have enough
36:38
money to actually buy real estate.
36:40
So it's like, what are you, what are you going to do?
36:42
Buy $5.00 of a house here? Like they don't have any money
36:46
here. And I, I, like I said, I'm
36:49
always just saying I'm going to continue to buy it.
36:51
But of course, coming from safety.
36:53
And he breaks it down a lot better than I would.
36:55
As you know, an Austrian economist that literally wrote
36:58
the book on Bitcoin that everyone basically got orange
37:02
peeled with. He makes a point that I think a
37:04
lot of us make all the time. It's like there's literally
37:07
nothing else to save in. If you are saving in dollars,
37:10
you're cooked. You have no idea what's going
37:13
on. No one saves in dollars.
37:14
I mean, maybe there's a few people on Rumble that are cash
37:17
Maxis that do save in dollars, but they're losing their
37:21
purchasing power. And, and literally his argument
37:23
is like, I want privacy over my purchasing power gains.
37:25
That's cool, man. If you are a rich person, you're
37:30
probably saving in assets. And if you're smart, you're
37:33
trying to, you're trying to position yourself into the best
37:35
assets. Now again, Bitcoin is the best
37:38
performing thing period since its inception.
37:41
So if you are trying to maximize your gains, there's literally
37:45
only one thing to be saving in. And now literally we, we had a
37:48
BBQ over here yesterday with a prominent Bitcoiner that you
37:51
guys know I'm not going to dox them.
37:53
And we literally, or the whole day was just conversating about
37:57
how when you know, the boomers realize that no one's going to
38:00
buy their bags, which is Niko's favorite thing right now, AKA
38:03
real estate, all hell is going to break loose here because
38:07
people are like, why am I going to buy this overpriced thing?
38:10
Or rather, I can't even afford this overpricing.
38:13
Or even if you're, you're your parents had a nice house and you
38:15
tried to inherit it. It's like, I can't afford the
38:17
inheritance tax. I can't even afford the upkeep
38:20
here. And there's a lot of things
38:22
going on that are basically pointing to One Direction.
38:26
That's like the best, easiest, most convenient asset to hold.
38:29
Is Bitcoin now safe? I think is being conservative
38:32
here. You said 2:00 to 2:00 to $300
38:35
trillion market cap. I think that's just the start.
38:38
I'm, I'm, you know, I think my ID, my IQ keeps dropping.
38:42
So I'm out of 42 IQ Bitcoiner today and I just go through, you
38:46
know, money is 1/2 of every transaction.
38:49
So I'm going with $500 trillion market cap is where we're
38:53
headed. Again, don't trust me.
38:55
My, my, my quaints are just whispering in my ear here that
38:58
that's where we're headed in our lifetime.
39:02
Probably not Nico, but. When paid group dude when paid.
39:05
Group. Yeah, send me one Bitcoin, I'll
39:08
send you 2. But yeah, I mean, look, I, I, I
39:11
agree with Saifuddin 100%. I think the best is yet to come.
39:14
Ladies and gentlemen, strap yourself in.
39:18
This is going to be a wild, wild ride.
39:21
And yeah, guys, anyways, guys, we're going to get to the news
39:25
segment. We're going to cover something
39:28
very, very important. We have an update on the Tornado
39:31
Cash case. And remember guys, the Tornado
39:35
Cash case set the precedent for the US government sanctioning
39:40
open source software. And then that eventually led to
39:44
the arrest of the Samurai wallet developers.
39:48
And then I was making the case that if the US government can
39:50
sanction open source software, you know what else is open
39:54
source software? Bitcoin is open source software.
39:57
So it's incredibly important to stay on top of these cases
40:00
because the perspective that we take and the perspective that
40:05
you guys should take is that code is speech.
40:09
And if you live in the US, speech is protected by the 1st
40:12
Amendment right like. You can't make an argument that
40:17
text basically, or code is hurtful, right?
40:22
Like you can't say that, right? But that's the argument that
40:24
they're trying to make. They're trying to make that
40:26
certain types of software is able to be sanctioned.
40:31
And remember, sanctions are meant for individuals and
40:36
they're meant for governments. They're not meant for.
40:40
They're not meant for software. Software doesn't have feelings.
40:44
The software doesn't commit crimes in itself, right?
40:48
Like, you know, there has to be a user of that, right?
40:52
And the vast majority of the coins that were mixed using
40:57
Tornado Cash and, and, and Samurai, they weren't used for
41:06
illicit purposes. Only a small fraction of people
41:10
that were mixing with Tornado Cash and Samurai were using it
41:14
for illicit purposes. That's like, you're basically
41:17
making the same argument that like, oh, like gun manufacturers
41:22
are responsible, you know, for, you know, gun violence.
41:26
It's like, no, dude, ultimately it's not the gun that's
41:30
committing the violence. It's the person right that's
41:32
committing the crime right? That's the argument that they
41:35
they tried to make, and This is why I keep saying elections have
41:39
consequences. So we're going to be talking
41:40
about that during the news and we will be right back in just
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get 5% off. All right, everybody, let's jump
45:08
into today's news story and it is a it is a big deal.
45:13
We've been covering this for over a year at pride.
45:18
I give a lot. I give Opti and IA lot of credit
45:21
for this. Pat ourselves on the back a
45:23
little bit because we've been covering this and we've been
45:26
telling you guys what the consequences of these cases were
45:29
going to be. And essentially the TLDR, what
45:33
you guys need to understand is that, look, if you set a
45:40
precedent that software is somehow dangerous because
45:44
software is what, what is software?
45:46
Software is code. Code is speech, right?
45:50
You're going to go down a very, very slippery slope.
45:54
The reason that I believe this was happening in the 1st place
45:59
was because we know that there's certain elements.
46:02
And by the way, go check out my latest interview with Caitlin
46:04
Long where she does an expose of between the secret war between
46:08
the Federal Reserve and Bitcoin. It's phenomenal.
46:11
We posted it over the weekend. Caitlin's amazing and go check
46:15
it out. But basically, there are
46:18
elements in the US government and in governments worldwide,
46:22
like look at where Europe's going with CBDC's, that they
46:26
don't want to lose their control over money.
46:30
Unfortunately for them, here in the United States, there's very
46:35
strong constitutional protections.
46:38
The First Amendment is extremely, very, it's very
46:41
strong. It's very, very strong.
46:44
You cannot, but like the, I don't know what the official
46:48
line is, but basically it's like something along I'm paraphrasing
46:51
here, but something's like Congress cannot pass a law that
46:54
you know, forbids the speech of Americans.
46:58
Speech is protected, right? Code.
47:02
What are you doing? You're typing into a computer.
47:05
How can you make that argument that that code right, Especially
47:09
if it's not, You're not hurting anybody.
47:11
You're creating a software, right?
47:14
Why should you be held responsible if people are using
47:17
that software for illicit purposes, right?
47:20
It's not like Tornado Cash was developed to facilitate money
47:25
laundering, right? It wasn't developed for that.
47:28
It was developed so that people can protect their privacy,
47:32
right? Which again, is also protected
47:35
by Fifth Amendment. No, no, unreasonable searches
47:38
and seizures. But I, I feel like that one just
47:40
got has been thrown out the window in the last couple
47:43
decades. But this is the basically the
47:46
front line. And with the Trump
47:49
administration, it was a huge victory because essentially a
47:52
lot of this stuff got walked back.
47:54
Now, why am I talking about this today?
47:57
Well, the Tornado cash case officially starts the criminal
48:03
case. And I love the way that coined
48:06
Des phrased it. Right to code Tornado Cash.
48:10
Dev Roman Money laundering's trial kicks off Monday.
48:15
If convicted on all three charges, Storm faces a maximum
48:19
sentence of 45 years. But this is still kind of going
48:24
by the tail end of the Biden administration that was using
48:28
law fair to go after the industry in all many different
48:33
forms, forms. It was going after the mining
48:35
industry. It arrested, they arrested CZ,
48:38
they arrested Arthur Hayes. A lot of these people have been
48:41
pardoned since then, right? You know, they were even after
48:44
going after the Trump administration using lawfare,
48:47
right? So yes, this is part of, you
48:52
know, what happened during, you know, the Biden era, right?
48:56
But if you look at what the Trump administration is doing
49:01
over in the executive branch, Treasury Department drops case
49:05
over Etherium mixer Tornado Cash.
49:08
So the Trump administration is basically saying, Nah, we're not
49:11
interested in in charging the Tornado Cash guys.
49:14
No, we're dropping that case. That was back in July 7th.
49:17
Unfortunately, the, the DOJ case is still active.
49:23
So let's do kind of like a high level summary of the events and
49:28
the ramifications of that and where we are right now.
49:32
So in 2022, Biden's Treasury and DOJ went after Tornado Cash,
49:37
alleging it was used by North Korean hackers to launder
49:40
billions OFAC blacklisted smart contract code.
49:45
Not just people setting a very dangerous precedent.
49:49
Precedent. Dutch police arrested developer
49:53
Alexi Pertsif and the US indicted Roman and others.
49:57
Their crime? Publishing open source privacy
50:01
code. This was a direct assault on the
50:03
idea that code is speech. By the way, I think they did it
50:08
on purpose. Why do I think they did it on
50:10
purpose? Well, you know what else is open
50:13
source code? Bitcoin, the moment that this
50:17
happened, I remember looking at Optia, I said, Oh my God, if, if
50:21
Coin Center loses their lawsuits against this, they're going to
50:24
start going after bigger fish because not that many people
50:27
knew about Tornado Cash. As soon as the Tornado Cash case
50:31
happened and Coin Center sued and they lost that lawsuit two
50:37
months later, they arrested the samurai wallet developers.
50:41
That's when me and Opti got political.
50:42
All of a sudden that's when me and Opti threw our hat in the
50:45
ring and we said, hey, listen, we got a vote for the pro
50:49
Bitcoin candidate, which was at the time was President Trump and
50:52
RFK junior elections have consequences.
50:56
The reason I'm saying that is take a look at this Treasury
50:58
Department drops case over Tornado Cash.
51:01
You know who's controlled the Treasury Department?
51:03
Trump administration anyways. So in a major reversal, Treasury
51:07
dropped its civil enforcement case against Tornado Cash Co
51:11
founder Roman Storm in July 2025.
51:13
This signals that even the US government knows its legal
51:17
theory was shaky. While the criminal case from DOJ
51:20
is still alive, the civil case folding is a huge signal the
51:24
tide is turning. With the Trump administration
51:27
power and Project 2025 in motion, there's hope that
51:30
federal agencies will stop treating open source developers
51:33
as criminals. Expect pressure to reassert
51:37
First Amendment protections and rollback this kind of regulatory
51:40
overreach, which has already been happening.
51:43
So what's on the line for open source developers?
51:46
If developers can be arrested for writing privacy tools,
51:50
Bitcoin developers are next. Tools like Samurai, Wasabi Join
51:55
Market and even Lightning privacy layers could be targets
51:59
and I believe that was the end goal if Trump didn't win this
52:04
last election. Better said if a pro Bitcoin
52:07
president didn't win this last election, make no mistake, they
52:11
would have kept going because they want a central bank digital
52:16
currency. Now what?
52:18
Why does all this matter? Why does a tornado cash, which
52:22
is not a Bitcoin, you know, it's not Bitcoin related.
52:25
I think it's Ethereum related. Why does all this matter?
52:28
Well, Bitcoin is open source code.
52:30
It's neutral code, just like Tornado cash.
52:33
Fundamentally, it's open source code.
52:35
If the government can sanction or prosecute code, bitcoins
52:39
privacy future is at risk. This case was about whether
52:44
financial privacy is allowed to exist outside state control.
52:49
The TLDR Treasury just folded on Tornado Cash.
52:53
That's a win, but the fight isn't over.
52:55
If we don't draw the line now, Bitcoin developers could be
52:59
next. The case is the frontline for
53:02
financial freedom, privacy and freedom of speech in the digital
53:06
age. And that's why we're covering
53:09
this case today. There will be more developments.
53:12
Follow Frank Korva, political correspondent for Bitcoin
53:17
magazine. He's there at the trial.
53:19
It begins today. Go give his account a follow to
53:23
see what the latest updates are going to be from the trial.
53:28
And of course, our prayers go out to Roman and his family.
53:34
Again, you shouldn't be getting arrested for writing code in the
53:39
United States of America where specifically your freedom of
53:43
speech is protected by the 1st Amendment.
53:47
And again, it wasn't for money laundering.
53:50
It wasn't for all these reasons. It was specifically because they
53:53
want to see BDC and they saw this as an attack vector.
53:59
And again, to kind of weave it back in, last thing I'll say
54:03
before I pass it on to Opti. Ladies and gentlemen, as much as
54:06
you don't like politics as much as you don't like elections,
54:09
because I know a lot of you are hardcore Bitcoiners, elections
54:13
have consequences. Take a look at the podcast that
54:15
I just did with Caitlin Long. If we, if a pro Bitcoin
54:19
president did not win this previous election, I think me
54:24
and else me and me and Opti would probably be in El Salvador
54:26
right now to be honest with you. Opti, what's your take, brother?
54:29
Yeah. Well, we've been covering this
54:31
story for a long time. And as we laid out when this
54:35
initially dropped, this was going to be a precedent for
54:39
attacking Bitcoin developers. And that became true.
54:42
And now that we, you know, this is the first day of the court
54:46
case or the trial rather, I think this is going to be very
54:50
important. And I think whatever happens
54:52
here will have consequences moving forward for everyone.
54:56
And I'm really hoping that we see some good stuff come out of
54:59
this because if not, you know, they are actively trying to make
55:04
privacy criminal. We fundamentally think the the
55:08
opposite. I don't, I don't know if I go so
55:10
far as saying, you know, privacy is a human right per SE, but I
55:13
do like the, the direction of that meme.
55:15
I, I think we should have privacy.
55:17
And I don't think there should be anything done by the state to
55:19
stop privacy, whether they like it or not.
55:22
And so whatever happens here, of course, this is in Southern
55:25
District of New York. I believe so.
55:29
Part of me is not that hopeful considering that's, you know,
55:33
not the best place to have this trial.
55:36
But I am hopeful that reason does prevail here and that this
55:40
president is set in a good way. And hopefully Roman Storm does
55:43
does, you know, walk free here because we saw that this was an
55:48
active attack by the Biden administration or, you know,
55:51
the, the SDNY, we, we saw them attack Tornado cash.
55:55
We saw them further attack samurai.
55:57
And I really hope that moving forward, this is put to rest.
56:01
And as everyone in the chat saying this happened in the
56:03
night, we we're kind of reliving something that's already kind of
56:07
happened, but with new technology.
56:09
And so I am hopeful, I am optimistic that this is going to
56:12
go and turn in our favor or in the best outcome for us in the
56:16
Bitcoin industry. Also, you know, I'm not the
56:19
biggest fan of courts and general so I don't know if I'm
56:24
holding my breath on this Nico, but this is a huge court case
56:27
happening right now and let's just hope for the best I guess.
56:30
Absolutely and of course, ladies and gentlemen, we are your
56:32
number one source for tomorrow's Bitcoin news today.
56:35
So stay tuned to simply Bitcoin. We'll keep you updated on this
56:39
case. This is the frontline for the
56:42
battle for you know, is code speech here in the United
56:46
States. This this case is going to set
56:49
the precedent. We're going to be on top of it.
56:52
It's extremely important for our industry.
56:54
Fundamentally, at the end of the day, Bitcoin is open source.
56:57
And if they're saying that and, and you want to know, you guys
57:00
want to know why Satoshi is anonymous.
57:03
Ladies and gentlemen, This is why, this is exactly why Satoshi
57:07
disappeared. This is why he's anonymous,
57:09
right? Because even with constitutional
57:13
protection, fundamentally, ladies and gentlemen, we are
57:17
playing for all the marbles. This is what you guys have to
57:20
understand, man. This is what you guys have to
57:22
get into your minds, right? Fundamentally, we are basically
57:27
saying we don't want to use the government's money, we want to
57:31
use our own money. We want better said we want to
57:34
be able to choose what money we want to use.
57:38
I don't know about you guys, but I don't remember any law being
57:41
passed or any social contract that basically says you're
57:45
forced to use that. Like, that is crazy.
57:48
That's nuts. And then not only that, I don't
57:51
think Bitcoin would have even been invented if inflation
57:54
wasn't a thing. Bitcoin was a reaction to
57:59
inflation. Bitcoin was a reaction to the
58:03
crime that happened in 2008 where the quantitative easing
58:10
experiment began. And it basically like if you are
58:14
in the younger generations, like you cannot afford a home, you
58:19
cannot afford to live. A Bitcoin was a was an immune
58:24
response to that. So don't let them demonize you.
58:28
Don't let them make you feel like you're doing something
58:31
wrong because you choose to use the money that isn't debasable,
58:38
is censorship resistant, has absolute scarcity.
58:42
And this is my opinion. Bitcoin is money.
58:46
Like fundamentally, Bitcoin is whatever you want it to be.
58:48
Bitcoin is a tool, right? And it's and it's a better
58:52
money. It's better money than Fiat.
58:54
And I'm not the only one that said this.
58:55
We played you guys a clip of Ricardo Salinas on the Brielove
58:58
podcast, and he's even saying it like, look like Fiat is bad.
59:03
You know, no man should have the power to create money for free
59:08
that another man has to work for.
59:12
That's messed up. It misaligns incentives.
59:15
I think it breaks things on a spiritual level, on an economic
59:19
level. And this is what Bitcoin fixes,
59:22
right? So we're going to stay on top of
59:24
this case anyways. Let's move on to the culture.
59:26
We have tons to talk about. We will be right back in just
59:29
one second. I want to give a shout out to
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1:00:03
You can catch the latest buzz at Hive Digital Tech or at Hive
1:00:07
digitaltech.com. All right, everybody, we are
1:00:20
back. Opti, I don't even know what do
1:00:22
you have for the culture segment?
1:00:24
Yeah, well, it looks, I don't know, man.
1:00:27
It looks like a new FUD is, is circulating here.
1:00:33
We we have a new angle here. And there's actually two
1:00:37
different people that are saying something very similar.
1:00:40
And the first one, well, this isn't the first one, but I'm
1:00:42
going to start here because the next one is a clip.
1:00:45
We have Tim Pultz tweeting this morning, 9/14 he goes.
1:00:49
Bitcoin is going to hit $1 million because it's the
1:00:52
globalist reserve asset. Kind of disappointing to hear
1:00:56
from Tim Poole. We know he is a bitcoiner, so
1:00:58
maybe he's trolling. Maybe this is just a troll here
1:01:02
and and he's just like kind of leaning into people's fears.
1:01:05
If this was just the only tweet, then it wouldn't really be a
1:01:08
news story, I would say. But we got this clip from Mike
1:01:11
Bands, and Mike Bands has been doing really good work and he's
1:01:15
kind of saying something very similar.
1:01:17
So can we play this? Yeah.
1:01:19
Yeah, I'm going to play. I want to play it.
1:01:20
Can we play this, though? Yeah, I think so.
1:01:24
I don't think he says anything bad.
1:01:26
OK. I'm pretty sure.
1:01:27
I'm pretty sure there's nothing really bad in here.
1:01:29
It seemed pretty tame. I mean, it's he only says about
1:01:33
the CIA, so I don't think it's too bad.
1:01:35
Yeah, I don't think it's too bad.
1:01:37
All right, let's play the clip and and maybe we have to we'll
1:01:39
we'll drop it down. But he goes, there's a few, very
1:01:43
few in here. It's just from his Twitter.
1:01:45
There are very few quote, pure play bets on the market for CIA
1:01:48
money laundering and Bitcoin is 1.
1:01:51
So, you know, putting these two together, it seems like there's
1:01:54
a new FUD starting to percolate. And let's just watch the clip
1:01:59
and then and then we'll, we'll chat about it.
1:02:02
I'm bullish on CIA money laundering.
1:02:04
I I I there is an almost infinite need for creative
1:02:10
structuring to obscure illicit sources of funds for arms
1:02:14
trafficking for I don't a lot of people say, oh, you know, they
1:02:19
only use crypto or Bitcoin to buy drugs and guns.
1:02:22
And they make it sound like the people doing that are, you know,
1:02:26
your retail street corner drug dealer.
1:02:31
And it's like an the underdog is doing just mute it and then
1:02:33
we'll talk. Over it.
1:02:34
I'll edit it. We'll talk.
1:02:35
Over it. But no, no, no, it's fine.
1:02:38
It's fine, but OK. Basically, he's making the case
1:02:41
that three letter agencies are using Bitcoin to launder money.
1:02:46
What I find it kind of ironic too also is that yeah, someone's
1:02:52
saying that Temple is trolling. What I find ironic though is
1:02:57
like how they just how they are charging Roman with money
1:03:06
laundering, you know, for using open source software and then
1:03:11
Mike Venz is making the case that, you know, certain agencies
1:03:15
are using Bitcoin for the very thing that he's being charged
1:03:19
for. So it's kind of like a rules for
1:03:21
thee and not for me type of situation.
1:03:25
And of course, we're just being cautious here, ladies and
1:03:27
gentlemen, you know, because of the platforms we post on.
1:03:31
And you know, we love you YouTube and we're trying to
1:03:35
adhere to your community guidelines as much as possible.
1:03:40
No, we're trying to adhere to your community guidelines as
1:03:44
much as we can. No, we are, we're doing our
1:03:48
best. OK.
1:03:50
And, and yeah, man, I mean, I, I, I just what do you think,
1:03:54
though? Do you think it's true?
1:03:56
Do you think he's just bad? Sad that he didn't, you know?
1:04:00
No, I think Mike Bentz is a Bitcoiner.
1:04:04
And like, as we've been saying on the show for a while, we all
1:04:10
know what criminals actually use.
1:04:13
What's the money of choice there?
1:04:14
And it's obviously the dollar. And so there is this kind of
1:04:18
hypocrisy that we're seeing play out in real time where they
1:04:22
blame Bitcoin for all the bad stuff going on.
1:04:25
And yes, maybe that there is probably a small portion of
1:04:28
Bitcoin that is being used for such cases.
1:04:32
But in reality, it's much more than that.
1:04:34
And it really kind of goes back to the same idea of, you know, a
1:04:37
tool is a tool and it doesn't really matter how someone uses
1:04:41
it or it's really not the tools kind of fault that someone uses
1:04:45
it in the wrong way. Correct, but don't you find it
1:04:48
ironic that they're charging Roman?
1:04:51
100 percent, 100%. It's like what?
1:04:54
Like now you can't have it one where the.
1:04:56
Other well, see, that's where you and I kind of go against
1:04:59
each other, Nico is because the powers that be can very
1:05:04
obviously have it both ways. They make the rules they can do.
1:05:08
But that's where the that's where the veneer, that's where
1:05:11
the veneer like kind of falls off, right?
1:05:13
You know, that's where the veneer falls off.
1:05:15
And, you know, like it, it's kind of like rules for thee and
1:05:19
not for me. And it kind of reminds me of
1:05:20
like Elon in the beginning of the year with USAID.
1:05:24
And, you know, he's like finding basically all this, how do I say
1:05:28
this nicely, man, inefficiencies in government resources and he's
1:05:37
basically getting attacked left and right.
1:05:38
They don't want him to audit, but at the simultaneously, as
1:05:43
citizens, we're expected to be OK with being audited, right?
1:05:48
You know, like, again, like there's a social contract.
1:05:53
You have to follow the law. You know, you have to follow the
1:05:56
community guidelines here on YouTube And you know, you have
1:05:58
to you have to play by the rules.
1:06:00
But I think what really makes me upset, right, is what really
1:06:07
makes me upset is, is rules for the and not for me, right?
1:06:10
It's, it's, it's a, it's a 2 tier system, right?
1:06:15
People are operating on different tiers and the rest of
1:06:18
us are expected to operate on another tier.
1:06:20
And I think that's unjust. And I think that's exactly what
1:06:24
Bitcoin fixes. So, you know, that's what I'll
1:06:27
say about that man. But that clip is quite
1:06:30
interesting. I wish we wish we could have
1:06:31
played it for you guys in, in totality, but you know, we, we
1:06:35
obviously want to respect YouTube and follow their
1:06:37
community guidelines as much as possible.
1:06:40
I was going to drop in the chat but I probably can't do that.
1:06:43
Go to Mike Benz's Twitter and watch the clip for yourself.
1:06:47
So anyways, all right, well, this is a great start to a
1:06:50
Monday, guys. If you guys enjoyed the show,
1:06:53
like I said, really helps us if you guys smash the like button,
1:06:56
we're almost at 3000 live viewers.
1:06:59
I think we hit like 700 on YouTube today.
1:07:02
Appreciate all you guys love you guys 120 on rumble.
1:07:06
I can't believe this. I mean, when me and Opti started
1:07:09
this show, like, you know, we took it live like, you know, we
1:07:14
were, we were hyped to get, you know, 10 people or 20 people in
1:07:18
in the live show, so. That was 100 if we broke 100.
1:07:21
We were super happy. We were super happy.
1:07:23
So yeah, I can't believe you know, you're making our dreams
1:07:27
possible and we wouldn't be here without you, without our
1:07:30
partners. So we appreciate all you guys.
1:07:32
We love you guys. Smash the like button.
1:07:34
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1:07:37
And of course, we'll be back tomorrow for a brand new episode
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