Latest / Simply Bitcoin / Banks Caught Red-Handed! $8.6 TRILLION Buying Bitcoin? | EP 1085

Transcript

Banks Caught Red-Handed! $8.6 TRILLION Buying Bitcoin? | EP 1085 · Simply Bitcoin

• 0:00
  Coin Live, your number one source for the peaceful Bitcoin
• 0:02
  revolution. Rumors have been circulating
• 0:04
  that a major U.S. bank has been secretly offering Bitcoin to
• 0:08
  their private clients while their CEO has been publicly
• 0:11
  denouncing Bitcoin. Like always what we say on this
• 0:15
  show, let's pay attention to to what they're doing and not what
• 0:18
  they're saying. Are these rumors true?
• 0:20
  We'll find out. Or what if I told you that eight
• 0:23
  that three massive household name banks in the US that
• 0:27
  control over 8.6 trillion dollars assets under management
• 0:32
  have already been quietly buying Bitcoin and selling Bitcoin
• 0:35
  exposure to their clients. Today we're going to be exposing
• 0:39
  why the major U.S. banks are already in Bitcoin.
• 0:41
  We're going to address these rumors that have been blowing up
• 0:44
  on Twitter and why this upcoming Bitcoin bull run that's expected
• 0:49
  in 2025 could be wildly different than the last cycles.
• 0:53
  But before we get into the discussion on one of my Co hosts
• 0:56
  on stage, of course I'm talking about the legendary Optimus
• 0:59
  Fields. What is it that I'm talking
• 1:02
  about? Well, the Twitter has been going
• 1:06
  absolutely crazy. There was this there.
• 1:09
  There was this breaking news by going LFG saying big breaking,
• 1:16
  big breaking, major U.S. bank goes big on Bitcoin.
• 1:20
  JP Morgan announced plans to offer an actively managed
• 1:25
  Bitcoin fund to its private wealth clients.
• 1:28
  The problem is that once you look into this stuff, there is
• 1:33
  no source confirming this. There's absolutely no source
• 1:39
  confirming that JP Morgan has been offering this to their
• 1:43
  private clients. However, I also did a little bit
• 1:47
  of digging. JP Morgan has been buying
• 1:50
  exposure. It's a Bitcoin, However.
• 1:52
  Check out this article from Investopedia.
• 1:55
  JP Morgan disclosed investment holdings totaling 731,000 and
• 2:00
  Black Rocks Bitcoin ETF, Fidelity's ETF and Grayscale's
• 2:05
  ETF, as well as Wells Fargo. Wells Fargo has started to allow
• 2:11
  their brokers to sell the Bitcoin ETF to their clients as
• 2:17
  well as Morgan Stanley and also Goldman Sachs and Morgan Stanley
• 2:22
  took stakes in US spot Bitcoin ETFs in Q2.
• 2:27
  So if you combine the total assets under management of those
• 2:30
  four banks, it wasn't three banks, it was 4 banks.
• 2:33
  That's $8.6 trillion under management.
• 2:36
  Let's read some of the Reuters article.
• 2:38
  Goldman Sachs and Morgan Stanley purchased a total of more than
• 2:42
  six $100 million in Bitcoin ETFs during the second quarter,
• 2:47
  regulatory filing showed on Wednesday.
• 2:50
  The two banks joined a group of hedge funds and financial
• 2:52
  advisors that have waded into the products, which began
• 2:55
  trading in January 2024. Goldman Sachs and it's said in
• 3:00
  its quarterly disclosure to the SEC, known as AF as a 13F filing
• 3:05
  that it had acquired about $418 million in several of the
• 3:11
  recently launched ETFs tied to the price of spot Bitcoin.
• 3:18
  So major U.S. banks, wealth management banks are are now
• 3:24
  exposed to Bitcoin. So even if this rumor turns out
• 3:28
  to be total BS from Bitcoin LFG because I couldn't find any
• 3:35
  sources backing it up, it is true that Wells Fargo, JP, JP
• 3:40
  Morgan, Morgan Stanley and Goldman Sachs are all all have
• 3:46
  exposure to Bitcoin and some of those banks are even selling it
• 3:51
  to their clients as well the ETF products.
• 3:54
  What's quite interesting to me though, Opti is this JP Morgan
• 3:58
  aspect. Why is it quite interesting to
• 4:01
  me? Well, JP Morgan's CEO is Jamie
• 4:04
  Dimon and Jamie Dimon has said some interesting things about
• 4:07
  Bitcoin in the past. Let's check it out.
• 4:12
  If you mean crypto like Bitcoin, I've always said it's a fraud.
• 4:16
  So no hope for it. Well, if it's if they think
• 4:19
  they're a currency, there's no hope for it.
• 4:21
  It's a Ponzi scheme. It's a public, decentralized.
• 4:23
  I'm going to read it again. JP Morgan disclosed investments
• 4:28
  totaling $731,000 in the BlackRock ETF, Bitwise ETF and
• 4:35
  Fidelity's ETF and Grayscale's Bitcoin Trust with the majority
• 4:40
  in the BlackRock. So I mean, did Jamie Dimon just
• 4:44
  admit to investing in a Ponzi? So it goes back to what I was
• 4:49
  saying in the beginning, ladies and gentlemen, don't pay
• 4:51
  attention to what they say. Pay attention to what they are
• 4:57
  doing. And the fact is that major
• 4:59
  household named banks in the United States and wealth
• 5:03
  management banks are all acquiring massive amounts of
• 5:07
  Bitcoin and they're also selling it to their clients as well.
• 5:11
  Despite what Jamie Dimon wants you to believe that Bitcoin and
• 5:16
  is the Ponzi scheme, I mean, eventually everyone bends the
• 5:19
  knee. Sailor initially was skeptical
• 5:22
  about Bitcoin. Larry Fink five years ago was
• 5:24
  saying that Bitcoin was an index of money laundering.
• 5:28
  You know, now he's saying that Bitcoin is a non sovereign
• 5:32
  alternative to Fiat currencies, right?
• 5:35
  So eventually everyone bends and then bends the knee to the king.
• 5:39
  And of course, that is because of Bitcoin superior monetary
• 5:43
  incentives. Opti, what are your thoughts on
• 5:46
  this, man? I mean, like the projection, the
• 5:49
  hypocrisy, the like the hubris, the ego.
• 5:54
  I think it was Max Keiser that originally said that Bitcoin is
• 5:58
  an ego test. It's a humility test, you know,
• 6:01
  So like people like Peter Schiff, people like Jamie Dimon
• 6:05
  that feel like, you know, they control the financial world and
• 6:08
  then all of a sudden Bitcoin comes in and, you know, they're
• 6:11
  like, I'm new to Bitcoin. I'm here to fix it.
• 6:13
  But they can't really fix it. They have to get in line like
• 6:16
  everybody else and pay the price that they deserve.
• 6:20
  You know, I feel like that could be quite humbling to people that
• 6:23
  have reached those heights of wealth and power.
• 6:27
  Opti, what are your thoughts? Well, I think everyone knows my
• 6:31
  thoughts. Usually if you hang around here
• 6:33
  long enough, you know how what I think about central bankers or
• 6:36
  bankers like Jamie Dimon and the, however you want to call
• 6:39
  them, powerful financial elites out there.
• 6:42
  They're obviously incentivized to flood Bitcoin.
• 6:45
  I'm convinced that Jamie Dimon is a Bitcoin holder.
• 6:50
  Jamie Dimon isn't as dumb as everyone likes to paint him out
• 6:52
  in Mt. Twitter it it, it's he.
• 6:55
  They are it. It's.
• 6:56
  No, I know. I'm, I'm talking about, I'm
• 6:58
  talking about him personally. I think Jamie Dimon had been
• 7:00
  buying Bitcoin personally for a long time.
• 7:03
  He understands what's going on. He's a smart guy.
• 7:07
  He obviously knows the game being played and he holds
• 7:10
  Bitcoin. And not only that, JP Morgan is
• 7:14
  an authorized participant to the Black Rock ETF.
• 7:17
  So like they can say whatever they want publicly, but they are
• 7:22
  incentivize to make sure that Bitcoin does well.
• 7:25
  And we talked about this constantly.
• 7:27
  The central bankers, bankers like Jamie Dimon and of course
• 7:30
  people in politics like Elizabeth Warren, etcetera.
• 7:33
  They are incentivized to tell you not to buy Bitcoin because
• 7:36
  they know the game. Like we know the game.
• 7:38
  It is all a Fiat scam. The real Ponzi scheme here is
• 7:42
  the Fiat dollar. So they can't come out here and
• 7:44
  be like, yeah, don't buy Bitcoin, buy Bitcoin because
• 7:47
  it's going to be the pain on the Fiat Ponzi scheme.
• 7:52
  So they, they know what game is, is being played.
• 7:56
  And I call it the billionaire FUD playbook.
• 7:58
  It's very simple. They publicly shame Bitcoin.
• 8:01
  They publicly FUD Bitcoin. They stack their bags privately.
• 8:04
  And then once they have a good position, they come out and be
• 8:07
  like, look, I love Bitcoin. Bitcoin is great.
• 8:09
  You know, Larry Fink did the same thing he was.
• 8:11
  He's probably the biggest, biggest example of this FUD
• 8:15
  Bitcoin forever. Finally, secretly roll out the
• 8:18
  BlackRock ETF, get the approval of the regulators and the
• 8:21
  politicians and stuff, and then be like, I love Bitcoin.
• 8:24
  And now he's out here shilling Bitcoin with all of his
• 8:27
  institutional asset managers just shilling it, writing
• 8:30
  bullish Bitcoin reports. It's, it's not very, I'm, I'm
• 8:37
  blanking on the word right now, but it, it's very obvious to
• 8:40
  anyone that understands the game right now what is going on.
• 8:43
  They're not incentivized to pump Bitcoin because that would
• 8:46
  expose the scam of Fiat money. But now that they have these
• 8:50
  Bitcoin products, they're more than incentivized to start
• 8:54
  pumping them. And remember the clip we played
• 8:56
  yesterday of Gary Gensler? Everyone was kind of, you know,
• 8:59
  doing the fire Gary Gensler stuff and I, I find it very
• 9:03
  interesting that the main take away from that clip yesterday
• 9:06
  was that Gary Ganz is like, look, we have these ETF
• 9:08
  products, guys just like buy Bitcoin through our regulated
• 9:12
  products and don't take it into self custody.
• 9:14
  So they're incentivized to push you through these regulated
• 9:18
  mechanisms of buying Bitcoin so that they can try to control the
• 9:22
  on and off ramps. It's a very obvious playbook
• 9:25
  once you understand what's going on.
• 9:26
  And This is why we constantly say the real move here, the real
• 9:30
  revolution, is taking custody of your Bitcoin.
• 9:33
  No longer do we need to go to these middle men.
• 9:35
  No longer do we even need to care what the suits think.
• 9:37
  You just need to save in Bitcoin, get Bitcoin however you
• 9:41
  can and hold it in your own custody.
• 9:44
  This is how you win. And so like, yeah, there's so
• 9:47
  many examples showing that JP Morgan is buying Bitcoin.
• 9:51
  They have a lot of Bitcoin products.
• 9:53
  And personally, I think Jamie Dimon holds a lot of Bitcoin.
• 9:56
  He's he's he's a smart dude and he's been learning and reading
• 10:00
  about Bitcoin for a long time, but publicly he can't say that.
• 10:04
  And so he's incentivized to publicly continue to be like,
• 10:07
  don't talk to me about Bitcoin, bro.
• 10:09
  I don't care. Remember what was it?
• 10:11
  Was it the World Economic Forum? No, at Davos this year, he's
• 10:14
  like, this is the last time I'm talking about Bitcoin.
• 10:17
  And then like a month later, he's like, crypto's a scam.
• 10:19
  And he's just like, all right, bro, like keep keep talking.
• 10:22
  I. Just find it hilarious because
• 10:24
  it's like, you know, one thing he's saying like this is a Ponzi
• 10:28
  scheme, but his own bank is, you know, has exposure to Bitcoin.
• 10:34
  Like, I find that hilarious, you know, and, and now you have the
• 10:37
  wealth management banks coming in like Goldman buying $400
• 10:41
  million of exposure to the ETFs, even though, you know, they're
• 10:45
  not necessarily offering that to their clients yet.
• 10:48
  So it's just, it's hilarious. And it goes back to what we've
• 10:52
  been saying about politicians and about bankers, Like don't
• 10:56
  pay attention to what the bankers are doing.
• 10:58
  Pay attention to, sorry, don't pay attention to what the
• 11:01
  bankers are saying saying pay attention to what the bankers
• 11:04
  are doing. And Bitcoin has this like really
• 11:07
  interesting mechanism of kind of exposing incentives, and it gave
• 11:11
  me some original thought this morning and in regards to how
• 11:15
  governments and banks view Bitcoin.
• 11:18
  So Bitcoin is treated as money when it suits regulatory needs,
• 11:23
  but it's dismissed as money when it clashes with political
• 11:27
  objective objectives. And we're seeing that time and
• 11:30
  time again as it relates to central bankers, as it relates
• 11:34
  to bankers in general, as it relates to governments, right?
• 11:38
  It's it's like it's crazy because they want to benefit
• 11:41
  from number go up, but they don't want the freedom go up.
• 11:44
  They don't want the people to benefit from it before they
• 11:48
  benefit themselves, right? So it's just, it's crazy how
• 11:51
  Bitcoin does these things. Anyways, guys, we have a exactly
• 11:55
  we are saying trust us, bro. Anyways, guys, it's going to be
• 11:59
  a hell of a show. We have a lot to unpack today.
• 12:02
  Breaking news, there was a major lawsuit uncovered yesterday in
• 12:07
  regards to a major Bitcoin company Swan Bitcoin sues ex
• 12:13
  staff members over. I'll get into the details.
• 12:16
  It's quite interesting. Ross Stevens from NY Dig makes
• 12:21
  the case. He released an entire report
• 12:24
  called Bitcoins protected under the 1st Amendment, which is
• 12:28
  something that we wholeheartedly believe here at Simply Bitcoin
• 12:32
  because I think that money is a form of speech.
• 12:35
  And also I don't know if we'll have time to cover this today.
• 12:39
  Hopefully we will. Tornado Cash developer Roman
• 12:43
  Storm's criminal case will proceed to trial.
• 12:46
  They tried to get this case dismissed and it's setting a
• 12:49
  very dangerous precedent because at the end of the day, this
• 12:54
  developer, all he did was write code and a percentage of the
• 12:59
  people that used his software used it for illicit purposes.
• 13:03
  But why don't bankers go to jail when you know, criminals use
• 13:09
  bank the banking system to launder money?
• 13:13
  Why is it that only Bitcoin privacy developers and or
• 13:17
  Bitcoin developers or crypto developers, Why are they the
• 13:20
  ones that get the brunt of it right?
• 13:23
  It's kind of like rules for thee and not for me.
• 13:26
  Kind of reminds me of this whole Jamie Dimon thing where he's
• 13:29
  calling Bitcoin a Ponzi. Meanwhile his bank is buying
• 13:32
  Bitcoin. Anyways, guys, it's going to be
• 13:34
  a hell of a show. Stay tuned in.
• 13:35
  Before we start the show, I want to give a shout out to our lead
• 13:39
  sponsor. Of course I'm talking about
• 13:41
  Bitcoin well. Bitcoin well is the best place
• 13:43
  to build your automatic self custody Bitcoin stack.
• 13:46
  Buy real Bitcoin enable your independence with the fastest
• 13:49
  and safest way to buy Bitcoin in Canada and the USA.
• 13:52
  To get started, all you got to do is you put in your e-mail
• 13:54
  address. Takes about two to 5 minutes to
• 13:56
  get verified and Bitcoin Well is automatic self custody.
• 14:01
  What does that mean? That means that when you buy
• 14:03
  Bitcoin on Bitcoin well as soon as the funds clear, it goes
• 14:07
  straight to yourself custody Bitcoin wallet address.
• 14:10
  It does not allow you to leave your Bitcoin on the exchange,
• 14:14
  which perfectly aligns with the simply Bitcoin ethos of the
• 14:16
  separation of money and state. They also have the Bitcoin
• 14:19
  Wishing well contest, which you could enter by buying Bitcoin on
• 14:23
  Bitcoin well, which leads you to earn Bitcoin well points, which
• 14:26
  you could use those points towards the Bitcoin Wishing well
• 14:29
  contest. So we're going to do one for you
• 14:31
  guys right now, get your lightning wallets ready First
• 14:33
  person to scan the QR code wins 500 Satoshis.
• 14:38
  If you use promo code simply BTC again, simply BTC to sign up to
• 14:43
  bitcoinwell.com today, you get 3 tosses into the Bitcoin wishing
• 14:47
  well absolutely free. All right, everybody, let's get
• 14:50
  to the numbers. Lots to talk about.
• 15:00
  All right, everybody, I do want to give a shout out to our
• 15:02
  sponsor Stamp Seed. Usually when you buy yourself a
• 15:06
  hardware wallet, it comes with a piece of paper and you're you're
• 15:11
  meant to write down your seed words on that piece of paper.
• 15:15
  The problem is that paper is prone to water damage, fire
• 15:19
  damage. Your dog could potentially eat
• 15:21
  it. You definitely don't want to
• 15:23
  store your generational wealth on paper, which is why we
• 15:26
  recommend here at Simply Bitcoin to literally stamp your seed
• 15:30
  using proof of work in the privacy of your home.
• 15:33
  Stamp your seed letter by letter into a plate of titanium, and
• 15:37
  the Stamp Seed Titanium Seed Storage Kit will enable you to
• 15:41
  do just that. It comes with the hammer.
• 15:43
  It comes with the letter stamping tools.
• 15:46
  It comes with the anvil. It comes with everything you
• 15:48
  need. So you can again stamp your seed
• 15:51
  into a plate of titanium so that it can survive the test of time.
• 15:56
  It's also fireproof. It's waterproof.
• 15:58
  Your dog's probably not going to want to eat a plate of titanium.
• 16:03
  Simply Bitcoin recommends you storing your generational wealth
• 16:06
  properly by properly securing your seed phrase, which is why
• 16:10
  we recommend the stamp seed. Stamp your seed into titanium.
• 16:14
  Don't write it down on a piece of paper.
• 16:16
  Use promo code simply to get 15% off anything on the store.
• 16:20
  At the time of recording we've we've had quite a little bit of
• 16:23
  a pump. The price of Bitcoin is $66,270
• 16:28
  sats per dollar 1509 block height 863,000 94 Realized
• 16:34
  monetary inflation 1.34% market capitalization 1.31 trillion
• 16:39
  Bitcoin versus gold market cap 7.09% money supply 19,759,452
• 16:47
  BTC percentage issued 94.09%. In the grand scheme of things,
• 16:54
  we are just getting started. Anyways, I do want to talk about
• 16:57
  this historic report released by NYNYDNY Dig and Ross Stevens.
• 17:04
  The name of the report is Bitcoins Protection under the
• 17:09
  1st Amendment. I think the reason that this
• 17:12
  report is being written is there is going to be an inevitable
• 17:17
  clash between nation states wanting to retain their ability
• 17:23
  to create money for free, their monopoly on the issuance and the
• 17:27
  control of money and Bitcoin. And I think people are going to,
• 17:32
  there's going to be a very difficult discussion that's
• 17:35
  going to be had because governments get a tremendous
• 17:39
  amount of funding from their ability to print money.
• 17:44
  But all of a sudden, if their citizens have the ability to use
• 17:48
  Black Rock's own words, not mine, choose an alternative non
• 17:53
  sovereign monetary system, what are governments going to do to
• 17:58
  fund themselves? The long term effects of this is
• 18:02
  that it removes a major source of revenue for them.
• 18:06
  This is the part that they don't know.
• 18:07
  Admit most people in society don't know what money is.
• 18:12
  Most people in society believe that taxes fund the government.
• 18:17
  Most people in society don't understand, and I'm going to
• 18:20
  focus on the US government specifically because that's the
• 18:23
  one I'm the most knowledgeable about. the US government spent
• 18:26
  $1.7 trillion more than it collected in tax revenue last
• 18:30
  year. How did it do that?
• 18:33
  It did that because it was able to print the difference.
• 18:37
  So when you hear politicians saying stuff like tax the rich,
• 18:41
  increase taxes, the government doesn't have a tax collecting
• 18:45
  problem. The government has a spending
• 18:48
  problem and it will continue to have a spending problem as long
• 18:51
  as they have the ability to print money.
• 18:54
  And that is exactly what Bitcoin is all about.
• 18:57
  It's a peaceful and silent protest against the government's
• 19:01
  ability to do that. But there is going to be a clash
• 19:04
  because the government isn't going to want to let go of that
• 19:09
  privilege, let go of that power, let go of that privilege that
• 19:13
  that that they have abused, I might add.
• 19:16
  So anyways, I think that this is where, you know, these types of
• 19:20
  reports are so important. So Ross Stevens of NY Dig is
• 19:24
  making the case that Bitcoin is protected under the 1st
• 19:27
  Amendment. Obviously, I don't have the time
• 19:30
  to read you the entire report, so I'm going to focus on the
• 19:34
  introduction solely and then I'll put you I'll put this in
• 19:37
  the chat. So you guys could read the rest
• 19:38
  or Opti will. Here we go.
• 19:41
  Boom. Anyways, it goes on to say
• 19:44
  Bitcoin, a decentralized, free and open source digital letter.
• 19:48
  A digital Ledger has been used by millions of people around the
• 19:51
  world since its invention more than a decade ago.
• 19:54
  Launched by the synonymous Satoshi Nakamoto, Bitcoin
• 19:57
  empowers anyone with an Internet connection to transfer value and
• 20:01
  other information without the need for a centralized
• 20:04
  intermediary. This paper argues through
• 20:07
  extensive legal precedent that Bitcoin is speech and therefore
• 20:11
  protected by the 1st Amendment. Any regulations attempting to
• 20:15
  curtail Bitcoin therefore have clear constitutional
• 20:18
  implications rely entirely on constant communication among
• 20:23
  these participants to operate efficiently.
• 20:26
  Bitcoin is speech harness to transfer value, among other
• 20:29
  purposes. Bitcoin users broadcast
• 20:32
  transactions to all members of the network.
• 20:35
  Other Bitcoin participants, known as biners, compile and
• 20:38
  propagate those transactions, help reach consensus about
• 20:41
  Bitcoins Ledger, and add their own expressive content.
• 20:45
  Bitcoin participants also actively debate and signal
• 20:49
  support for changes to the the open source protocol.
• 20:52
  It goes on to say this is something that I have emphasized
• 20:55
  many times on simply Bitcoin. Bitcoin is also a political
• 21:02
  movement launched amidst the Great Recession.
• 21:05
  Bitcoin was designed to free individuals from the government
• 21:09
  monopoly over money. Indeed, the very first message
• 21:13
  recorded on Bitcoin contained a commentary on the failings of
• 21:17
  government, administrative, political and financial systems.
• 21:20
  Quote the Times Chancellor on the brink of the second bailout
• 21:24
  for bank. That was a message in the
• 21:25
  genesis block. Many Bitcoin devotees, including
• 21:29
  the author of this paper, regarded their continued use of
• 21:32
  Bitcoin as an endorsement of its founding ideological principles.
• 21:37
  To further those principles, Bitcoin adherence collectively
• 21:40
  maintain and enhance the Bitcoin protocol, plan conferences and
• 21:44
  engage in political advocacy. In recent years, Bitcoin is
• 21:48
  growing resistance from the very governmental authority is that
• 21:52
  the Bitcoin that advocates seek to deprive of their monetary
• 21:56
  monopolies. Some governments, including
• 21:58
  China and Venezuela, have banned Bitcoin or Bitcoin mining.
• 22:01
  In the United States, federal financial regulators have sought
• 22:05
  to stym Bitcoin in a variety of ways, while various state and
• 22:10
  local governments have focused on restricting Bitcoin mining.
• 22:13
  In 2022, for example, New York enacted A2 year memoratorium on
• 22:18
  a new or expanding Bitcoin mining facilities to certain
• 22:23
  carbon based energy. In taking such steps, regulators
• 22:27
  do not appear to have considered the 1st Amendment implications
• 22:31
  of targeting Bitcoin. They should.
• 22:33
  Bitcoin is a platform for communicating value and other
• 22:37
  information, including vast amounts of highly expressive
• 22:40
  content. Engaging with Bitcoin therefore
• 22:43
  involves speech protected by the 1st Amendment.
• 22:46
  For many. Moreover, using and mining
• 22:49
  Bitcoin also constitutes protected, expressive conduct
• 22:53
  because those activities are intended and and wildly
• 22:56
  understood to be a protest against government control and
• 23:00
  debasement of Fiat currencies. Participating in the Bitcoin
• 23:04
  network is also expressive, expressive associational
• 23:08
  activity, which likewise triggers First Amendment
• 23:12
  interest. So an incredible, incredible
• 23:15
  introduction. And I love how he put the
• 23:17
  Benjamin Franklin quote on the top.
• 23:20
  The security of property and the freedom of speech always go
• 23:23
  together. And in those countries where a
• 23:25
  man cannot call his tongue his own, he can scarce call anything
• 23:30
  else his own. Incredible, incredible.
• 23:33
  I highly recommend checking out the entire report.
• 23:36
  But some quick thoughts here in regarding in regards to this
• 23:41
  report. Like, yes, Bitcoin is speech.
• 23:43
  Yes, Bitcoin is a political movement.
• 23:45
  We've been making the case for that for a long time now.
• 23:48
  Bitcoin is a silent, it's a peaceful revolution.
• 23:54
  You are protesting and there's something that people have to
• 23:57
  wake up and understand. We did not sign up to be forced
• 24:05
  to use a money that steals from us.
• 24:08
  That is not part of the social contract.
• 24:11
  That is something that politicians are taking an
• 24:14
  advantage of, people that are not informed on that matter.
• 24:20
  You can make the case that taxes have been agreed upon on the
• 24:26
  social contract level. People have agreed on it.
• 24:30
  People might not like it, people, you can complain about
• 24:33
  the income tax, but the 16th Amendment was passed in 1913,
• 24:38
  coincidentally the same year that the Federal Reserve was
• 24:41
  established and people agreed that there was going to be an
• 24:45
  income tax. Now, politicians promised it was
• 24:47
  only going to be 1 to 3%. And then they increased it
• 24:50
  progressively over the years because that's what they do.
• 24:53
  But it's it's enshrined in law. People have not agreed upon the
• 24:59
  fact that money has to steal from you in order to function.
• 25:05
  And because of that, that is a weak point.
• 25:08
  That is a point that they have no explanation for.
• 25:12
  They can't justify it. They can't explain it away.
• 25:16
  So when you hear people asking Kamala Harris or Donald Trump,
• 25:21
  what are you going to do about groceries?
• 25:24
  What are you going to do about the cost of living?
• 25:28
  That's like asking the people that took you hostage when
• 25:32
  they're going to free you. Because it is government and
• 25:36
  government debasing the currency.
• 25:39
  Not, you know, the conflict in Ukraine, not the pandemic.
• 25:44
  It is literally government debasing the currency.
• 25:47
  That is the sole clause of inflation.
• 25:50
  It's not price gouging. It's not any of this.
• 25:52
  It's government debasing the currency, so Bitcoin is the
• 25:58
  ability to opt out of that entirely.
• 26:01
  And every single day that Bitcoin survives, it proves to
• 26:06
  the world that a currency can exist without inflation.
• 26:12
  And This is why Elizabeth Warren and other members that are not
• 26:16
  fans of Bitcoin are so staunchly against Bitcoin, because it's an
• 26:21
  idea. It's an idea whose time has
• 26:24
  come. It's an idea whose very first
• 26:28
  block is addressing the problem itself.
• 26:32
  And it's an idea that is better money.
• 26:37
  It's a better system than government money.
• 26:41
  So it becomes kind of like a pain in the ass for them in in
• 26:44
  a, in multiple different ways. And because it's decentralized
• 26:48
  in nature, they can't shut it down.
• 26:51
  And because they can't shut it down, they're forced to compete
• 26:55
  with it. And when you have a competition
• 26:58
  between a a currency that is inflationary and prone to
• 27:04
  censorship versus a currency that is deflationary and
• 27:09
  censorship resistant, that's only always going to end in one
• 27:15
  way that that revolving door, that door only goes in One
• 27:20
  Direction. I have never met someone in my
• 27:23
  entire life. I've been in this industry for
• 27:25
  eight years that has told me, Nico, I've gone to a Bitcoin
• 27:30
  standard. I like it, but I'm going back to
• 27:33
  Fiat. It's always a one.
• 27:35
  It's A1 directional door. So for us Bitcoiners, Bitcoin
• 27:41
  content creators, Bitcoin revolutionaries, and you are a
• 27:44
  revolutionary whether you realize it or not, because the
• 27:47
  revolution, all it requires is for you to buy Bitcoin, earn
• 27:52
  Bitcoin, mine Bitcoin and take that Bitcoin into self custody.
• 27:55
  And you're, you're revolting against the system just by doing
• 27:59
  that. You're saying, no, I don't want
• 28:00
  to partake in inflationary money.
• 28:04
  So they're going to try to gaslight, they're going to try
• 28:08
  to misrepresent, they're going to try to use very scary words
• 28:12
  like terrorism, money laundering, you know, financial
• 28:17
  stability, all of these things, everything that they can think
• 28:20
  of to justify their ability to keep their monopoly on the
• 28:30
  creation and the control of money.
• 28:33
  And I think this piece by Ross Stevens is preluding that it's
• 28:39
  getting in front of it. And it's basically saying, you
• 28:41
  know what? Nah, Bitcoin is speech.
• 28:44
  Money is speech. Bitcoin is protected by the 1st
• 28:48
  Amendment. He's trying to set the bar.
• 28:50
  He's going on offense instead of us always being on defense,
• 28:55
  right? So excellent, excellent case.
• 28:58
  I completely agree. And Opti, I mean, what, what's
• 29:02
  our, what's our motto, right? Simply Bitcoin.
• 29:05
  Tomorrow's Bitcoin news today. How long have we been saying
• 29:09
  that Bitcoin is inherently a political movement?
• 29:13
  For too long and we got way too much Flack for it too.
• 29:18
  But yeah, going back to the whole like Bitcoin of speech, it
• 29:23
  took me a little while to fully wrap my head around this because
• 29:27
  it's very obviously speech once you understand it.
• 29:30
  The crypto awards of the 90s very clearly shown and even at
• 29:34
  the highest levels proved that software is speech and it's
• 29:37
  protected under the 1st Amendment.
• 29:40
  And very clearly, guys, Bitcoin is just software.
• 29:42
  Like it's just code. It's ones and zeros.
• 29:44
  So in the 90s, it's been what, for long, as long as I've been
• 29:48
  alive, it has been proven that software is speech and that they
• 29:51
  can't clamp down on software because of the 1st Amendment.
• 29:55
  Obviously, the people in power will do whatever they can to try
• 29:57
  to circumvent that. But Bitcoin is very simply
• 30:01
  speech. It is code.
• 30:02
  Money is speech. We say it all the time.
• 30:04
  Nico, what do you always say if you can't speak freely?
• 30:08
  What do you, what makes you think that they're going to let
• 30:10
  you try to transact freely? It, it's been proven constantly
• 30:14
  that Bitcoin is speech. It should be protected under the
• 30:16
  1st Amendment. And This is why you see a lot of
• 30:19
  regulators and a lot of, you know, politicians try to frame
• 30:22
  Bitcoin as something other than it is.
• 30:24
  And This is why even sometimes talking about Bitcoin as money
• 30:28
  is very dangerous. If we do get into that Tornado
• 30:30
  Cash news, it it really it if you if you categorize it as
• 30:34
  money, then they can try try to put it in a box and and try to,
• 30:40
  you know, smack a lot of these regulations and money laundering
• 30:43
  rules on top of Bitcoin. And of course they're going to
• 30:46
  try to kneecap Bitcoin as much as possible.
• 30:48
  But Bitcoin is speech. It's software.
• 30:50
  It's literally ones and zeros. You run it on your computer.
• 30:53
  It's very clearly protected under the 1st amendment.
• 30:57
  And we're not the only ones that have been saying this.
• 30:59
  You know, beauty on has been on that on that beat for a long
• 31:01
  time. A lot of other Bitcoiners have
• 31:03
  been saying this for a long time, but Bitcoin is very
• 31:07
  obviously also a political movement as well.
• 31:09
  When you understand how politics works, that basically all of
• 31:12
  politics is down for downstream from the money printer.
• 31:15
  This is why it's so important to get involved in and do what we
• 31:19
  can as Bitcoiners, not just to advocate for Bitcoin and number
• 31:22
  go up, but to advocate for everyone in whatever possibility
• 31:26
  and capability we have to get involved.
• 31:28
  Because again, look, we have the best money in the world and yes,
• 31:33
  we're going to accrue a lot of financial power and a lot of
• 31:36
  wealth with number go up. But that doesn't really mean
• 31:40
  much if we don't also try to grasp at the real power
• 31:44
  structures with it, which is the political power.
• 31:47
  This is why organization is super powerful.
• 31:49
  This is why I think the next movement that we'll see from
• 31:52
  Bitcoiners is, and actually we're seeing it right now, is
• 31:55
  getting politically involved. I know bit corners turn away.
• 31:58
  And then? Yeah, I I don't even know what I
• 32:01
  say the most more thing for us big corners to do is to get
• 32:04
  politically involved. And this is coming from someone
• 32:06
  that's had this apolitical, this is.
• 32:08
  The most powerful political movement the world has ever seen
• 32:12
  since the introduction of Marxism in the in the mid 19th
• 32:16
  century. I, I want you guys to comprehend
• 32:20
  what the implications of the separation of money and state
• 32:24
  are going to do for society as a whole.
• 32:28
  Think about it, separation of money and state, by definition,
• 32:31
  that is political. So eventually Bitcoin was going
• 32:35
  to come out of the shadows and it was going to be involved in
• 32:41
  the mainstream discourse. This is why you're seeing so
• 32:44
  much pushback. This is why we cover the tornado
• 32:47
  cash case. This is why we cover the samurai
• 32:49
  case. This is why we talk about Trump.
• 32:52
  This is why we talk about Kamala.
• 32:54
  This is where we are in bitcoins history, and this is what you
• 32:58
  guys have to understand. Now.
• 33:00
  The awesome part about all of this is that unlike the
• 33:03
  separation of church and state, which was not very peaceful.
• 33:08
  Take a look at the French Revolution.
• 33:10
  The the you know, the the red tear.
• 33:12
  We we was. It was horrific.
• 33:13
  A lot, very a lot of bad things happened.
• 33:16
  I'll just say that right, This is information narrative trench
• 33:20
  were from the battlegrounds of the Internet.
• 33:22
  So tweets count, memes count, videos count.
• 33:28
  This is about winning over the hearts and minds of individuals
• 33:31
  and asking them to opt out of the system.
• 33:34
  And you become a revolutionary not by pitting picking up a
• 33:38
  metaphorical rifle, but by literally just opting out of the
• 33:41
  system and taking your wealth into self custody.
• 33:45
  That's it. And if enough of us do it, if
• 33:47
  enough of the population does that, then that system cannot
• 33:52
  sustain itself. That's literally what it's
• 33:55
  about. That is what it's always been
• 33:57
  about. And Optia, I got to give us
• 33:59
  credit, bro. We did call it first.
• 34:01
  I'm I'm going to take credit for that.
• 34:04
  And also I want to add one more thing.
• 34:05
  We're not really builders, guys, you know, we're just talking
• 34:08
  heads here. But if you are a builder, the
• 34:10
  most important thing to be doing is shipping products so that
• 34:13
  these tools do get into the hands, as into as many people's
• 34:17
  hands as possible. That's the most important part
• 34:19
  about Bitcoin is having as many people as possible holding and
• 34:23
  using and saving Bitcoin. So if you're young and you have
• 34:26
  the itch to build something, you want to learn some skills,
• 34:29
  that's probably with this. If not, the first or second most
• 34:33
  important thing to be doing is shipping these products so that
• 34:36
  8 billion people can eventually use Bitcoin. 100% All right,
• 34:40
  everybody, don't I understand every, everyone's hesitancy when
• 34:45
  politics are brought up and politicians are brought up.
• 34:48
  And the hesitancy you're feeling is because politics is very
• 34:54
  uncomfortable. It is the organization of power,
• 34:57
  right? All rules go out the window for
• 35:00
  a lot of people when it comes to politics.
• 35:02
  So people tend to shy away with it.
• 35:05
  But the question that I have for you guys is look at what's at
• 35:08
  stake. Do you want your children to
• 35:11
  live in a future of central bank digital currencies?
• 35:14
  Or do you want your children to live in a future of Bitcoin?
• 35:17
  The future of capitalism is Bitcoin, the future of communism
• 35:21
  is central bank digital currencies.
• 35:22
  And we have an option of which direction we want to head
• 35:28
  towards. Anyways, everybody, let's get to
• 35:30
  news. We have lots to cover
• 35:32
  specifically regarding the Tornado Cash.
• 35:34
  We have an update for you guys and it's implications on the
• 35:37
  peaceful revolution. Let's check it out.
• 35:39
  Here we go. Special shout out to our sponsor
• 35:43
  Compass Mining. They make Bitcoin mining
• 35:46
  accessible to everyone from beginners to experienced
• 35:50
  investors. Their turnkey miners gets you
• 35:53
  online and hashing within 48 hours, making it easier than
• 35:57
  ever to start your mining journey.
• 36:00
  Plus, with their active marketplace, you can resell your
• 36:03
  miner at any time, adding flexibility and value to your
• 36:07
  investment. Visit their website to access a
• 36:10
  wealth of resources, learning everything you need to know
• 36:13
  about Bitcoin mining. Take your first step into the
• 36:17
  world of Bitcoin mining with confidence.
• 36:19
  Discover more at Compass Mining dot IO.
• 36:22
  Again, Compass Mining dot IO and see how Compass Mining can power
• 36:28
  your success. I want to give a shout out to
• 36:38
  our sponsor foundation. It's self custody done right.
• 36:41
  They've built a premium grade hardware wallet called Passport
• 36:45
  right here in the US, and it integrates seamlessly with their
• 36:49
  free app called Envoy. Passport is fully open source
• 36:53
  and verifiable. It's the most intuitive Bitcoin
• 36:56
  wallet design with a UX reminiscent of a classic feature
• 36:59
  phone, so you'll know how to navigate it and use it the
• 37:02
  moment you pick it up. It's also air gaps, meaning
• 37:05
  Bitcoin stays offline, never touching an Internet connection.
• 37:09
  It's Bitcoin only open source, verifiable air gap security
• 37:13
  model, gorgeous design, craft premium grade materials.
• 37:16
  Get your Bitcoin off exchanges and into your own hands in just
• 37:20
  a few minutes with Passport at foundation dot XYZ slash.
• 37:24
  Simply get Peace of Mind for your piece of Bitcoin.
• 37:29
  I mean, Opti's going to model the Passport by Foundation
• 37:33
  devices for you guys. It's a beautiful hardware
• 37:35
  wallet. Remember guys, not your keys,
• 37:37
  not your cheese. The revolution is self custody.
• 37:39
  You're going to want to get yourself a hardware wallet.
• 37:43
  The reason that we recommend Passport is because it's
• 37:46
  completely open source. It's completely air gapped.
• 37:49
  It's intuitive, it's easy to use.
• 37:50
  You could pair it up with the Envoy app.
• 37:52
  This is the perfect gift to get somebody that perhaps isn't
• 37:56
  comfortable with self custody because it makes self custody
• 38:00
  incredibly easy. Use promo code simply to get a
• 38:03
  discount. It doesn't come with OPT.
• 38:06
  Maybe just send us Adm. At the right price, potentially
• 38:10
  one Bitcoin. So I do want to preface this
• 38:15
  with a little bit saying that before we get to the news of
• 38:19
  Tornado Cash, this was some major news that happened
• 38:22
  yesterday. The headline is swan Bitcoin
• 38:25
  sues ex staff over quote rain and Hellfire plan to steal
• 38:30
  mining business. Before I jump into this, I LED
• 38:35
  Swan's YouTube channel for a year.
• 38:36
  I worked at the company and I have friends that still work at
• 38:41
  the company. I have friends that don't work
• 38:42
  at the company. So I'm going to offer no
• 38:45
  commentary whatsoever. I'm just going to read the
• 38:47
  article itself. So let's get to it goes on to
• 38:51
  say Bitcoin. Financial services firm Swan
• 38:53
  Bitcoin has filed a lawsuit against several former employees
• 38:57
  from its mining arm, alleging they stole the firm's software
• 39:01
  code, resigned, and then use that code to kick start their
• 39:06
  own mining business. The ex staff supposedly founded
• 39:09
  quote counterfeit competitor firm Proton Management and
• 39:12
  convinced one of Swan's funding partners to cut ties with Swan
• 39:17
  and work with them instead. This was intended to, quote,
• 39:20
  irreparably harm Swan's ability to compete in the market.
• 39:24
  The quote is quote. They hatched a plan to steal
• 39:27
  Swan's mining business from the inside, usurp Swan's role and
• 39:32
  cut Swan out from the joint venture.
• 39:35
  They dubbed it Rain and Hellfire.
• 39:38
  Swan CEO Corey Clipson responded 132% year over year.
• 39:43
  Swan Financial Services revenue is up big.
• 39:46
  Been an awesome last 12 months of product launches.
• 39:49
  Mining has always been separate and segregated.
• 39:52
  Recent news does not affect our core business.
• 39:55
  All right, moving on to the Tornado Cash case, which is has
• 40:00
  more to do with the revolution that is happening.
• 40:03
  So the reason that this case was so important is this case
• 40:09
  resulted in the inevitable arrest of the Samurai
• 40:14
  developers. The reason that I believe they
• 40:16
  started with Tornado Cash is because Tornado Cash isn't
• 40:20
  wasn't a wildly a a popularly and widely used.
• 40:27
  Mixer or a privacy enhancing service.
• 40:32
  So what happened is they arrested the Tornado Cash
• 40:36
  developer. They set a precedent for the
• 40:38
  first time in U.S. history where the US Treasury sanctioned open
• 40:43
  source software. You see why this is going.
• 40:45
  You see why Ross Stevens is saying that Bitcoin is protected
• 40:48
  by the 1st Amendment. If they can sanction open source
• 40:51
  software, what is Bitcoin but not open source software, right?
• 40:55
  They can make the same argument that, hey, you know what?
• 40:58
  People are using Bitcoin to circumvent US sanction policy.
• 41:04
  They can make that argument, right?
• 41:05
  This is why these court cases are so important.
• 41:08
  Now here the timeline of events which we've covered diligently
• 41:12
  over the last year or so of this happening.
• 41:15
  By the way, they went after Tornado Cash.
• 41:19
  They arrested the developer. They set the precedent.
• 41:21
  Coin Center, which is a Bitcoin and crypto lobbying arm, sued
• 41:26
  that case. That case got dismissed.
• 41:30
  A month after that case got dismissed, guess what?
• 41:33
  They arrested the Samurai developer.
• 41:36
  And what they're trying to make the claim is that even though
• 41:40
  the vast majority of people that use Tornado Cash and were using
• 41:45
  Samurai were just seeking privacy, the two or three
• 41:50
  percent that were using it for illicit purposes, they're
• 41:55
  responsible. The developers are responsible.
• 41:58
  Now I want to show you guys compare and contrast the
• 42:02
  difference between how these institutions are treated, right?
• 42:07
  So these are open source developers that work for our
• 42:11
  industry. You could say about crypto.
• 42:14
  You know, we're Bitcoin only, right?
• 42:16
  We advocate for Bitcoin, but at the end of the day, if you want
• 42:19
  to buy, you know, doge like so be it.
• 42:22
  I'm, I'm not going to stop you. You can do whatever you want
• 42:24
  with your money. The crypto in the Bitcoin
• 42:28
  industry, you know, it is what it is, right?
• 42:32
  Look at how they're treated. Look at how we're treated and
• 42:36
  look at how they're treated. This is a Financial Times
• 42:40
  article that I that I referenced a couple days ago and look at
• 42:45
  the wording. So Yevgeny Progressen, he was
• 42:50
  the guy that was the leader of the Wagnar group.
• 42:55
  The Wagnar group was the mercenary group that the
• 42:59
  Russians used to invade Ukraine. So he was essentially a Russian
• 43:04
  warlord, which his plane, you know, coincidentally crashed
• 43:11
  after he had a fallout with, with Putin.
• 43:13
  I'll leave it at that. Right?
• 43:16
  And it was an accident supposedly.
• 43:17
  But anyways, check out the wording of this article.
• 43:21
  So this guy, this Russian warlord, secretly used JP Morgan
• 43:26
  and HSBC for Wagnar payments. And it goes on to say banks
• 43:31
  unwittingly handled transactions for companies in Africa
• 43:35
  controlled by deceased Russian warlord.
• 43:40
  What the fuck is the difference here?
• 43:43
  What's the difference? What's the difference?
• 43:48
  What? Why aren't the CEOs of HSBC and
• 43:53
  what was the other bank? JP Morgan.
• 43:57
  Jamie Diamonds bank. Why, why aren't they, you know,
• 44:02
  like what's going on there? Like why, why are they not being
• 44:06
  held responsible? I I don't understand that makes
• 44:10
  no sense. So they arrest us, but then they
• 44:15
  get fines. It makes no sense.
• 44:20
  Well, it does make sense if you start to view it from the way
• 44:26
  that we view it, which is why Ross Stevens called this a
• 44:29
  political movement. They see it differently because
• 44:35
  open source money is a fundamental threat to their
• 44:40
  monopoly on money. That's what it boils down to.
• 44:44
  It has nothing to do with laws, because if laws mattered, why
• 44:50
  didn't one banker, why didn't one significant banker go to
• 44:55
  jail for what happened in 2008? Not one.
• 45:01
  They got bailed out and they got bonuses that they didn't go to
• 45:06
  jail. Rules for thee, but not for me.
• 45:14
  So anyways, goes on to say Tornado Cash developer Roman
• 45:17
  Storm's criminal case will proceed to trial.
• 45:19
  New York judge orders The DOJ case against Tornado Cash
• 45:24
  developer Roman Storm will proceed to trial, a New York
• 45:26
  judge ruled during a telephonic hearing on Thursday.
• 45:31
  Quote, At this stage in the case, this court cannot simply
• 45:35
  accept Mr. Storm's narrative that he is being persecuted
• 45:38
  merely for writing code. If the jury ultimately accept
• 45:43
  this narrative, then it will acquit.
• 45:45
  But there's no basis for me to decide that as a matter of law.
• 45:49
  I'm going to read this one more time.
• 45:53
  Banks unwittingly handled transactions for companies in
• 45:56
  Africa controlled by deceased Russian warlord.
• 46:00
  I'm going to read the judge's case one more time.
• 46:03
  At this stage in the case, this court cannot simply accept Mr.
• 46:07
  Storm's narrative that he is being persecuted merely for
• 46:10
  writing code. So it's a double standard, isn't
• 46:12
  it? Anyways, here's some some more
• 46:15
  commentary from fellow Bitcoiners.
• 46:17
  Bitcoin is now illegal. Joe Carlosari goes on to say.
• 46:22
  Very disappointed ruling in the Tornado Cash case.
• 46:25
  The court explicitly rejected the First Amendment argument and
• 46:29
  found as a matter of law that the Bank Secrecy Act doesn't
• 46:33
  require control. Now, do you see why this report
• 46:38
  was written? This paper, the report Bitcoins
• 46:43
  Protection under the 1st Amendment, argues through
• 46:45
  extensive legal precedent that Bitcoin is speech and therefore
• 46:48
  protected by the 1st Amendment. So what they're doing is they're
• 46:53
  using this Tornado Cash case to set a precedent on open source
• 47:00
  developers and open source software so that eventually they
• 47:06
  can go after Bitcoin. And that's what happened with
• 47:10
  Samurai. And that's why Ross Stevens
• 47:13
  wrote the report. And that's where this is
• 47:16
  heading. That's what this is all about.
• 47:19
  This is the separation of money and state playing out for you
• 47:22
  guys in real time, right in right up in your face.
• 47:27
  Here's some more commentary. Tornado Cash needed a banking
• 47:30
  license. Samurai Wallet needed a banking
• 47:33
  license. WhatsApp, Apple X probably all
• 47:35
  needed licenses too. Well, HSBC and JP Morgan had
• 47:42
  licenses. It didn't really do anything.
• 47:45
  Doesn't make any sense. Correct?
• 47:47
  That's why the SEC has proposed a rule to formalize licensing
• 47:51
  requirements for communication protocols.
• 47:54
  So you need a license to communicate.
• 47:57
  You see the slippery slope. Like the thing with Bitcoin guys
• 48:01
  that you have to understand is that it exposes incentives.
• 48:06
  And what you're what you're seeing is you're seeing a
• 48:09
  government, the nation state, trying to squirm and trying to
• 48:15
  justify its actions and using any type of law that's in the
• 48:21
  books, arbitrarily, I might add, to try to retain their power
• 48:27
  over money. That's what it fundamentally
• 48:29
  boils down to. I mean, this is something that,
• 48:33
  you know, the sovereign individual predicted, right?
• 48:38
  It says the authors predicted that with the rise of this new
• 48:43
  cyber space, cyberspace and consequently cyber money, it
• 48:46
  will become harder for nation states to collect taxes from its
• 48:49
  citizens. By the way, when I say collect
• 48:51
  taxes, that there's two types of taxes.
• 48:52
  There's inflation tax, there's another's income tax.
• 48:55
  They compared the state to a farmer keeping cows in a field
• 48:58
  to be milked. But that quote, soon the cows
• 49:02
  will have wings. They predict that that for the
• 49:05
  government to collect taxes from its citizens in this type of
• 49:08
  society, it would have to violate human rights.
• 49:12
  Even traditionally civil countries will have to resort
• 49:16
  and turn nasty. Businesses that offer the
• 49:19
  services that facilitate the realization of autonomy by
• 49:23
  individuals will be subject to infiltration, sabotage and
• 49:26
  disruption. That's from the sovereign
• 49:29
  individual. So this has nothing to do with
• 49:34
  the licenses and the laws. This has everything to do with
• 49:39
  the fact that, to use Black Rock's words, we now have a non
• 49:45
  sovereign monetary alternative and they're scared to death of
• 49:51
  that. Fortunately for us here in the
• 49:54
  United States, we have the 1st Amendment and the 1st Amendment.
• 49:58
  As Opti referred to earlier on on the show, back in the 1990s,
• 50:03
  they tried to do this before they tried to make encryption
• 50:06
  illegal, but they ended up losing those cases because they
• 50:09
  said someone actually even wore a shirt with the encryption
• 50:14
  codes that. Someone was Adam back.
• 50:16
  That Adam Back legend that they were trying to make illegal,
• 50:20
  right? So and I have a question for you
• 50:23
  guys. Like, do you think writing down
• 50:25
  12 words and memorizing them is illegal?
• 50:29
  You think like sending like, you know, a transaction, like that's
• 50:35
  essentially where they're going with this, right?
• 50:38
  This is, this is tyranny. And the reason it's tyranny is
• 50:40
  because it, we've never been in a situation where governments
• 50:45
  are on the verge of losing a very, very effective and
• 50:51
  powerful source of funding for them.
• 50:54
  And that's what it comes down to anyways, Lola.
• 50:57
  And then I'll pass it on to Opti after this.
• 50:58
  Lola says Tornado Cash needed a banking license, Samurai Wallet
• 51:02
  needed a banking license. WhatsApp, Apple X probably all
• 51:05
  needed licenses too. Doesn't admit, Doesn't make any
• 51:07
  sense, correct. That's why the SCC has proposed
• 51:09
  a rule to formalize license licensing requirements for
• 51:13
  communication protocols. In a speech at the annual U.S.
• 51:16
  Treasury Market Conference, Genser announced to rule on
• 51:20
  proposed amendments to the Exchange Act by November, which
• 51:23
  expanded the definition of the term exchange to mean quote
• 51:27
  systems that bring together whether buyers and sellers of
• 51:30
  securities. Critics argue the rule may be
• 51:33
  weaponized to criminally indict software developers in an
• 51:36
  already hostile environment for crypto and privacy developers.
• 51:42
  I mean, this is nuts. This is absolutely crazy.
• 51:46
  Now last bit of commentary I'll add before we just kind of open
• 51:51
  up the discussion. There's an election coming up in
• 51:58
  November, OK? And it will have consequences
• 52:02
  for the Bitcoin regulatory environment in the United States
• 52:06
  over the next four years. And there's 2 candidates, 1 is
• 52:11
  pro Bitcoin, anti CBDC and one is anti Bitcoin, pro CBDC.
• 52:19
  Who you choose will impact the regulatory environment in the
• 52:23
  United States. I can't put it any more simpler
• 52:26
  than that. You can talk to me about all the
• 52:29
  other political rhetoric. I don't give a flying fuck.
• 52:32
  I'm a single issue voter. Bitcoin over party.
• 52:36
  I'm going to say that like three times.
• 52:38
  Bitcoin party, Bitcoin party, Bitcoin party, right?
• 52:45
  So if we want the environment for Bitcoin owners, a Bitcoin
• 52:51
  business owners, Bitcoin innovators, Bitcoin builders in
• 52:55
  the United States to be a good environment, maybe the orange
• 53:00
  man would be a good idea. My two Sats there, I know it's
• 53:05
  quite controversial with a lot of people, but yeah, man, I
• 53:09
  mean, this is a very, very dangerous precedent that we're
• 53:13
  going down where government just continues to increase more and
• 53:19
  more and more and more of their control in the hopes of
• 53:24
  retaining the power of the money printer.
• 53:26
  So anyways, my thoughts on all that.
• 53:29
  Opti, what's your take? And then we'll move on to the
• 53:32
  next segment. Yeah.
• 53:33
  Well, my take not and not to like reiterate everything you
• 53:36
  said, it's it's slightly of a different tangent, but it, it's
• 53:40
  still in the same vein. And this ruling basically, or at
• 53:44
  least so far it, it's hasn't finished yet, but the judge
• 53:48
  basically said that control is not necessary to establish money
• 53:51
  transmission. And This is why we've seen this
• 53:55
  year in in particular. And, and we saw, we've been
• 53:58
  seeing this build up to this point where they are trying to
• 54:02
  do whatever they can to stop self custody of Bitcoin.
• 54:05
  Remember what was Elizabeth Warren's phrasing her meme that
• 54:08
  she made unhosted wallets. Remember, we've been, we were
• 54:11
  talking about unhosted wallets, quote UN quote, unhosted wallets
• 54:14
  for a long time on this show. And like Grubbles said, not
• 54:18
  Grubbles on Twitter said now basically Bitcoin is illegal
• 54:22
  like every every single person running a node all the miners
• 54:24
  anyone using Bitcoin. If this does set the precedent
• 54:28
  that we see it going towards is basically going to mean mean
• 54:32
  that all of us are money transmitters because we're using
• 54:34
  the Bitcoin network and this is very obviously doubling down on
• 54:38
  this whole choke .2 point O. Obviously they've been trying to
• 54:41
  stop the on and off ramp for a while.
• 54:43
  They're trying to stop us from taking Bitcoin into our custody.
• 54:47
  And now if this does set that precedent, every single person
• 54:51
  that uses the Bitcoin network is essentially going to need to,
• 54:55
  you know, sign up to be money transmitters because none of us
• 54:58
  can even like literally no one actually controls the bitcoins.
• 55:02
  You just have the keys to send the bitcoins and and that's like
• 55:06
  there's no control of Bitcoin on the network in general.
• 55:09
  And so again, there's two things going on.
• 55:12
  One I think is them trying to stop you from customing your
• 55:16
  Bitcoin. Again, referencing the clip we
• 55:19
  played yesterday of Gary Gensler where he's like, look, just go
• 55:21
  into these regulated custodians, these ETS if you want that
• 55:24
  Bitcoin exposure. Again, a lot of signal to the
• 55:28
  point that they don't want you custodying your Bitcoin, which
• 55:32
  what's that mean? It means we're going to custody
• 55:33
  our Bitcoin. That's the most important thing
• 55:35
  to be doing here. And two is sting.
• 55:38
  I just I just blanked on what my second point was on there.
• 55:41
  But it the point still remains. They don't want you to custody
• 55:44
  your Bitcoin and they're going to do whatever they can to stop
• 55:48
  you, the individual from custom your Bitcoin.
• 55:50
  And we're seeing a lot of signs, a lot of the writing on the wall
• 55:53
  that this is the case, that they want to funnel you into the
• 55:56
  centralized Bitcoin products so that they can control the
• 55:59
  network. And thus the most important
• 56:02
  thing to be doing is taking that Bitcoin into custody.
• 56:05
  It's not just about getting price exposure to Bitcoin, it's
• 56:08
  about actually holding that Bitcoin, or rather holding the
• 56:12
  keys to access that Bitcoin. Because now if this goes
• 56:18
  through, every single person that participates with Bitcoin
• 56:22
  is now a money transmitter, which is absolutely ridiculous.
• 56:26
  It's it's absolutely ludicrous. It kind of shows, I remember
• 56:30
  what my second point was. It shows just how one tech
• 56:35
  illiterate these people are and two, that they're trying to
• 56:38
  force the, the Fiat rules on to Bitcoin and it just, it
• 56:42
  absolutely makes no sense because Bitcoin is a totally
• 56:44
  different beast. What's that?
• 56:46
  What's that? I'm, I'm thinking of the, the
• 56:48
  Kobe, the Kobe tweet commercial where he's like, it's a, it's a
• 56:52
  different beast, but the same monster or something.
• 56:54
  I forget, I forget what it is, but it's a totally different
• 56:56
  system. And you can see that they're
• 56:59
  panicking to try to control Bitcoin.
• 57:02
  From my perspective, I would say that the cat's out of the bag
• 57:05
  and it's a little too, too little too late.
• 57:07
  But that doesn't mean that they're not going to try to
• 57:09
  control Bitcoin. It doesn't mean that they're not
• 57:11
  going to try to gaslight and scare the population away from
• 57:14
  using Bitcoin. Which is why it's so important
• 57:16
  for us to not only get involved in our community, not only talk
• 57:19
  about what what Bitcoin actually is and continue to make content,
• 57:24
  continue to write stuff, continue to build tools so that
• 57:27
  they can't stop this. Like it always kind of goes back
• 57:30
  to the, the Uber playbook where look, they're, they're going to
• 57:35
  write laws. We all know this, they're going
• 57:36
  to write laws to try to stop Bitcoin, but we just got to make
• 57:39
  the killer apps out there so that they fundamentally have to
• 57:42
  bend the knee, but they are actively trying to stop Bitcoin,
• 57:46
  which just kind of goes into everything.
• 57:47
  We always say Bitcoin's winning so hard, they're terrified.
• 57:50
  And all this is just projection because they know that the game
• 57:54
  is up, the the jig is up and the Fiat system's the real Ponzi.
• 57:58
  The Fiat system is the is is the real thing that's messing up
• 58:02
  everything in the world and they have to protect that Moat.
• 58:05
  They have to do whatever they can to stop Bitcoin and to make
• 58:08
  us look like criminals. I can't even remember all of the
• 58:10
  bad things they've called us throughout the years and they'll
• 58:13
  continue to do this it. It's their incentive to keep the
• 58:16
  Fiat system going, which just again, just completely exposes
• 58:20
  them when they come to Bitcoin. So hey, keep taking Bitcoin into
• 58:24
  custody, keep talking about Bitcoin, keep, keep saving in
• 58:27
  Bitcoin. This is how we win is when we
• 58:30
  literally take all of our wealth and all of our energy out of the
• 58:33
  Fiat system and put it into Bitcoin. 101 million percent.
• 58:39
  All right, everybody stay tuned because we still got the culture
• 58:41
  segment. Opti hasn't told me what we're
• 58:43
  going to talk about during the culture.
• 58:44
  All right, you know a. Little bit of a tease, my
• 58:47
  friend. Yeah, yeah, yeah.
• 58:48
  So this week we had had a lot of content come out that kind of
• 58:53
  breaks the echo chamber. And my first story here is, you
• 58:57
  know, Jack Mahler's talking to Rick Rubin and I'm, I love, I'm
• 59:00
  a huge hip hop kid, you know, and I, I just love examples of
• 59:04
  this. And the next one is I'll tease,
• 59:07
  I'll tease the next one. But we have examples of the
• 59:09
  Bitcoin signal going mainstream, not necessarily mainstream, but
• 59:12
  just outside of the Bitcoin echo chamber.
• 59:15
  And this is how we win is by making more people aware of what
• 59:19
  is going on, not just from, you know, Bitcoiners that are biased
• 59:22
  on the Internet, but people that have huge platforms.
• 59:25
  And you can see them getting orange peeled in real time.
• 59:27
  And it's just beautiful to see. Absolutely.
• 59:29
  All right, everybody, stay tuned.
• 59:30
  We'll be right back. Let's hit the culture,
• 59:44
  Speaking of culture guys, stack friends who Stacks apps join the
• 59:48
  12,233 bitcoiners that are currently on the orange pull
• 59:53
  app. The Orange pull app is the
• 59:55
  number one resource for Bitcoin only events.
• 59:57
  It is the Bitcoin social layer. If you're on the go, perhaps
• 1:00:01
  you've lived in your city for a long time, perhaps you're
• 1:00:04
  travelling for Bitcoin conferences and you don't know
• 1:00:06
  anyone around you. The Orange pull app is for you.
• 1:00:09
  You pull it up and it will literally show you any
• 1:00:12
  bitcoiners around you and it'll give you the ability.
• 1:00:15
  To send them a message directly so you can connect with them,
• 1:00:18
  it's probably a good idea to connect with fellow bitcoiners,
• 1:00:21
  right? It's also one of the best ways
• 1:00:23
  to send me a message. Don't really answer really
• 1:00:26
  random Twitter DMS these days or random emails.
• 1:00:30
  So if you want to connect with me, you want to talk to me,
• 1:00:32
  download the orange pull up, scan the QR code, check the link
• 1:00:35
  in the video slash podcast description and you can send me
• 1:00:38
  a message via the orange pull up.
• 1:00:40
  Download it today. Also send a message to Opti, he
• 1:00:44
  loves talking to people on the orange pull up.
• 1:00:47
  Anyways, I want to pull this up. Wait.
• 1:00:49
  Wait, wait, wait, wait, wait. I, I just, I literally just
• 1:00:52
  opened up the app this morning and I apologies to everyone.
• 1:00:55
  I have like, I don't even know like 50 messages.
• 1:00:59
  I'll respond to them. I don't know if I'll get to it
• 1:01:00
  all this weekend, but I I'm going to respond to everyone.
• 1:01:03
  I'm really bad at communicating. The only people I answered the
• 1:01:07
  most is literally the only calls I pick up is like my mom and
• 1:01:10
  Nico. That's like the only people I
• 1:01:12
  pick up on my phone. I'm really, I'm really bad at my
• 1:01:15
  DMS anyways. Anyways, no, please message.
• 1:01:18
  Opti on the orange pull up message Opti Sorry guys.
• 1:01:22
  Pull up anyways sorry guys I I have a lot of messages in there
• 1:01:25
  opti. For someone who is not as
• 1:01:29
  musically literate as you are, who is Rick Rubin and why is he
• 1:01:33
  so important? OK, all right.
• 1:01:35
  Well, OK, so I, I've told this story before, but I'll TLDR
• 1:01:39
  before I got into Bitcoin, I, I love music.
• 1:01:43
  I, I wanted to produce music. It was like my hobby, my
• 1:01:46
  passion. I had thousands of records.
• 1:01:48
  I just love music. I did the only thing I probably
• 1:01:51
  love more than Bitcoin is like I said, my mother in music.
• 1:01:55
  That's like, that's all I care about.
• 1:01:57
  So Rick Rubin is probably one of the most famous producers in
• 1:02:03
  music period. He, you know, he's, he's, he's
• 1:02:06
  the GOAT. He's one of the guys that is
• 1:02:08
  behind a lot of your favorite music.
• 1:02:10
  If if you're not like a music nerd like I am, then you
• 1:02:13
  probably know and love a lot of here.
• 1:02:15
  Let me, let me, I'll, I'll Google this real quick because
• 1:02:18
  there's so many people that Ruben has been a part of that
• 1:02:22
  probably just blows your mind. He he's behind so much stuff.
• 1:02:27
  So he was behind the BC boys, Ghetto boys, run DMC, Public
• 1:02:31
  Enemy, LL Cool J. He, you know, was behind part
• 1:02:36
  he's produced records for like Johnny Cash, Rage Against the
• 1:02:41
  Machine, Metallica slit, like so many people in every every
• 1:02:45
  corner of the world, you know, Red Hot Chili Peppers, like he's
• 1:02:49
  behind a lot of modern music. He's he's a tastemaker.
• 1:02:52
  And the beauty of of Rick Rubin is that he is very famously
• 1:02:57
  doesn't He's not even musically inclined.
• 1:02:59
  He's just like, I know what I like.
• 1:03:00
  I have a good year. So in in zoomer terms for you
• 1:03:04
  guys, he's an influencers was a word.
• 1:03:06
  He's behind so many artists that you know and love and he's just
• 1:03:11
  a tastemaker. And so This is why I think it's
• 1:03:13
  really cool. And again, it's just just me
• 1:03:15
  kind of itchy. That means my own itch.
• 1:03:17
  That means that he's incredibly talented.
• 1:03:19
  Super talented but really more he like I.
• 1:03:22
  Said he's a tastemaker, he's got a great ear.
• 1:03:24
  He's he's a part of popular culture.
• 1:03:26
  Instinct, my friend. Exactly.
• 1:03:28
  And. So.
• 1:03:30
  When bit corners reach out and we talk to other people, this is
• 1:03:34
  how you start to infiltrate popular culture is by having
• 1:03:37
  these conversations with people. Yes, not everyone's Jack Mollers
• 1:03:41
  and yes, everyone you're going to talk to is not Rick Rubin,
• 1:03:44
  but you never know how many degrees of separation you are
• 1:03:46
  from influential people. And so when I saw this, I
• 1:03:49
  thought this was super cool. You know, picture here of Jack
• 1:03:52
  Mollers with Rick Rubin and they did a podcast, they did an hour
• 1:03:56
  podcast and you got Jack Mollers here going orange Pilling with
• 1:03:59
  Rick Rubin. We talk money, time, energy and
• 1:04:01
  why Bitcoin is one of the best tools we've ever created.
• 1:04:04
  The harder our money, the better we are.
• 1:04:06
  Time and Bitcoin are the only assets where no amount of demand
• 1:04:09
  can create more supply. So they dropped this podcast and
• 1:04:13
  then literally the following day we got Rick Rubin quoting Jack
• 1:04:17
  Muller's about just how mind blowing Bitcoin is.
• 1:04:20
  And if you want to hear a master class of how to orange pill, I'm
• 1:04:25
  not saying Rick Rubin necessarily a normie, but he's a
• 1:04:27
  normie in regards to Bitcoin. But if you want to hear a master
• 1:04:30
  class of how to orange pill a normie and and teach them about
• 1:04:33
  Bitcoin, I highly recommend you go listen to through this
• 1:04:36
  podcast. Rick Reubens.
• 1:04:38
  I I'm I'm going to butcher the the name of the podcast.
• 1:04:41
  It's like Tet Teta Magatron or some I don't just just Google
• 1:04:46
  Rick Rubin, Jack Mahler's, but this quote, this quote right
• 1:04:49
  here from Mike Germano. He of course, he's over at
• 1:04:51
  Bitcoin magazine. He goes Bitcoin needs less
• 1:04:53
  Bitcoiners talking on Bitcoin podcast about Bitcoin.
• 1:04:56
  We need more of this of reaching out and talking to other people
• 1:05:00
  outside of our space that are tastemakers that do understand
• 1:05:04
  that there is a revolutionary shift going on.
• 1:05:07
  And the funniest part about this clip is you can in real time
• 1:05:11
  hear Rick Rubin kind of get orange peeled in the aha moments
• 1:05:14
  go on. So it's beautiful.
• 1:05:15
  All right, next one is we got this clip.
• 1:05:18
  Wait, wait, can you go back and and read that that?
• 1:05:20
  Quote OK, so here's Rick Rubin quoting.
• 1:05:23
  Jack Mahler's and he goes change is hard and scary.
• 1:05:26
  It's difficult to adopt something you don't understand.
• 1:05:29
  But what's funny is you can look at it two ways.
• 1:05:31
  You can say, wow, this is such an obvious technological
• 1:05:34
  advancement for our species. Why hasn't this?
• 1:05:37
  Why wasn't this adopted yesterday?
• 1:05:38
  Or you can say Bitcoin was invented 15 years ago by an
• 1:05:41
  anonymous individual with no marketing budget, no corporate
• 1:05:44
  headlines. This person didn't take it
• 1:05:46
  public with Goldman Sachs and it's already a trillion dollar
• 1:05:49
  asset class that's materially changing the world.
• 1:05:52
  How long did it take Google to make its impact?
• 1:05:54
  Longer than 15 years. You can look at it two ways.
• 1:05:57
  You can go, holy smokes, this is going really fast.
• 1:05:59
  Or you can maybe glass half empty this Jack Mahler's quoted
• 1:06:03
  by Rick Rubin, who is an absolute goat when it comes to
• 1:06:07
  shifting the cultural landscape that we all find ourselves apart
• 1:06:11
  him. So love him or hate him, he's a
• 1:06:13
  tastemaker. And if he's getting orange
• 1:06:15
  peeled, you know, he's having these conversations with people.
• 1:06:18
  And once you get orange peeled, you don't go back, OK, on the
• 1:06:22
  same thing. Another person, love him or hate
• 1:06:24
  him, we got this. I, I think this is an awesome
• 1:06:27
  clip. And I'm going to connect this
• 1:06:29
  with the hurricane that is hitting in Tampa right now in
• 1:06:31
  Florida, you know, near Nico's neck of the woods.
• 1:06:33
  But we got Andrew Tate on his podcast talking about what
• 1:06:37
  basically what we say here on the show all the time.
• 1:06:40
  So I want to play this real quick 'cause it's, it's actually
• 1:06:42
  kind of hilarious. We have Bitcoin now.
• 1:06:45
  Why would you buy? A house when you can buy Bitcoin
• 1:06:47
  instead. You buy a house, you have to pay
• 1:06:50
  property tax. You buy a Bitcoin.
• 1:06:54
  Done. Let's.
• 1:06:54
  Just sell it you haven't got. To pay property taxes every
• 1:06:57
  month, the government can't take it from you because you lost it
• 1:07:00
  in a boating accident. Plus you get higher rate of
• 1:07:03
  return. Plus you're geographically free.
• 1:07:05
  Plus you can liquidate it instantly without waiting years
• 1:07:08
  to sell it on the market. Just love it.
• 1:07:12
  Absolutely love it, just spitting.
• 1:07:13
  Bars out there and now connecting this to the hurricane
• 1:07:17
  that we're seeing, we've seen that Gary Cordone, you know,
• 1:07:21
  brother of of Grant Cardone, their their financial whatever
• 1:07:26
  investors and they got a big platform.
• 1:07:28
  They're mainly in real estate, but he dropped his clip
• 1:07:32
  yesterday and connecting the two.
• 1:07:34
  What Andrew Tate just said with Gary Cardone literally having
• 1:07:38
  the hurricane land on his front yard.
• 1:07:41
  He's sitting here saying the same thing.
• 1:07:44
  Like, damn, I should have just bought Bitcoin instead of this
• 1:07:47
  house. So remember what Tate just said
• 1:07:49
  and then listen to this. There is some wind background
• 1:07:51
  because he's literally in the heart of a hurricane.
• 1:07:54
  But I I found this hilarious too.
• 1:07:56
  I mean, it's almost above the rail now.
• 1:08:01
  It's a foot and a half from the rail.
• 1:08:02
  I'll lose all my electrics here in a little bit.
• 1:08:09
  Well, I'll tell you one thing. This is $72 million worth of
• 1:08:22
  Bitcoin right here. If I would have bought Bitcoin
• 1:08:25
  with the same amount of money I spent to buy this house in
• 1:08:28
  October of 2020, this has that. That would be $72 million and I
• 1:08:37
  wouldn't be worried about the water.
• 1:08:40
  All right, So if you couldn't hear that because of all the
• 1:08:42
  the. Hurricane winds.
• 1:08:43
  He said this house right here is worth $72 million in Bitcoin.
• 1:08:48
  And if he had bought Bitcoin in 2020 when he bought this house
• 1:08:51
  today, it would be worth $72 million.
• 1:08:53
  And he wouldn't have to worry about the hurricane literally on
• 1:08:57
  his front yard. And he's been going on a tirade
• 1:08:59
  on Twitter ever since. If, if if big if.
• 1:09:03
  Big, big. If yeah, and then he stamped.
• 1:09:06
  His seed on. A.
• 1:09:07
  Stamp seed Titanium. Yeah, yeah, exactly, exactly.
• 1:09:12
  And the last one is this one, which is just absolutely
• 1:09:15
  hilarious. You can see that Bitcoin is
• 1:09:18
  thoroughly saturating the culture, and I just love this.
• 1:09:21
  So Hayley Welch, AKA the famous hot Tula girl, she dropped a
• 1:09:25
  meme this morning with Michael Saylor.
• 1:09:27
  There's been a new Twitter trend of of her podcast where they put
• 1:09:32
  her with like, you know, famous figures and did you hear what
• 1:09:35
  what was said on her podcast? But she tweeted this one this
• 1:09:39
  morning, which is hilarious. Good morning, Mr. Sailor Moon
• 1:09:42
  and you can see up here on top. Haley recently went viral for
• 1:09:45
  telling Michael Saylor the future of Bitcoin will be
• 1:09:47
  immutable data storage that is decentralized from any
• 1:09:50
  government control on the top tool podcast and just a meme.
• 1:09:54
  I know it's Friday and we're probably not going to do the the
• 1:09:57
  meme review today, but I just find it hilarious that we're
• 1:10:00
  seeing Bitcoin slowly but surely just start to saturate popular
• 1:10:04
  culture. Whether it's talking to Rick
• 1:10:06
  Rubin, whether it's Andrew Tate talking about it on his podcast,
• 1:10:09
  Grant Cardone, Gary Cardone talking about it and and or even
• 1:10:15
  Dang Dave Ramsey being so anti Bitcoin.
• 1:10:18
  Like all these people are talking about Bitcoin or the
• 1:10:21
  Haktua girl posting Bitcoin memes.
• 1:10:24
  I think as the price starts to go up, we're going to see more
• 1:10:28
  examples of this. Coming out.
• 1:10:30
  And I think there will be a watershed moment where as the,
• 1:10:34
  you know, it's probably going to be after 100K that once Bitcoin
• 1:10:38
  price does start to run, there's going to be a retail fervor and
• 1:10:43
  retail FOMO like we saw in 2017. Yes, everyone's broke out there,
• 1:10:48
  but that just means everyone is looking for a way to increase
• 1:10:51
  their purchasing power. So, you know, just a fun little
• 1:10:54
  Friday about the culture and then about Bitcoin saturating in
• 1:10:58
  popular culture. Usually we talk about different
• 1:11:01
  cultural events. Today, of course, I kind of
• 1:11:04
  weave together the hurricane and maybe why you don't want to buy
• 1:11:08
  real estate. I'm a huge fan of Rick Rubin.
• 1:11:11
  I think he's the GOAT. And so you can see Bitcoin is
• 1:11:14
  starting to make inroads into popular culture and it's only a
• 1:11:18
  matter of time until the rest of the world realizes the
• 1:11:22
  revolutionary power and the movement behind Bitcoin.
• 1:11:25
  So, you know, just a light little, light little culture for
• 1:11:28
  you today, Nico, but what's your thoughts?
• 1:11:32
  Excellent, dude. That was excellent.
• 1:11:33
  I I love that. This is This is why, you know,
• 1:11:37
  if you guys are simply Bitcoin Ogs like we, we used to have a
• 1:11:41
  different segment, right? And we transitioned to the
• 1:11:44
  culture because we, we felt like, you know, this is a
• 1:11:48
  revolution. And, and I love Andrew
• 1:11:51
  Breitbart's quote when it comes to this, right, like you want,
• 1:11:53
  you want to win over the politics, you have to win over
• 1:11:56
  the culture. Like politics is downstream from
• 1:11:58
  culture. That's why it's so important.
• 1:11:59
  That's why we like highlight this types of things.
• 1:12:02
  And Germano, first of all, you know, he's, he's the president
• 1:12:07
  of Bitcoin magazine. Look up to him.
• 1:12:09
  He has a tremendous amount of, of experience.
• 1:12:11
  That's how I. Was about to say that
• 1:12:14
  tremendous. Amount of experience in in in
• 1:12:16
  media. So for him to say that statement
• 1:12:19
  holds a lot of weight and that is how you move the Overton
• 1:12:23
  window. That's how you move the cultural
• 1:12:25
  window, right when you have people that did not get famous
• 1:12:30
  in Bitcoin talking about how Bitcoin fixes things because
• 1:12:35
  then people won't automatically think you're a lunatic from the
• 1:12:38
  beginning, right. It's like Opti and I like I
• 1:12:42
  built my fame and Opti built, we built our, our platform through
• 1:12:46
  Bitcoin, right? So when I'm approaching people,
• 1:12:49
  they know me as a Bitcoiner. If this guy Cardone or Orange
• 1:12:55
  Man or you know, or Russell Brand or Tim Poole talk about
• 1:13:02
  Bitcoin and how Bitcoin fixes things, they never built their
• 1:13:05
  fame on Bitcoin. They built their fame on
• 1:13:08
  different, a variety of different things.
• 1:13:11
  And then they're talking about Bitcoin.
• 1:13:12
  They're saying Bitcoin fixes things.
• 1:13:14
  So that is how we break this Bitcoin echo chamber and we
• 1:13:19
  really get this idea. And I want you guys, if you if
• 1:13:23
  you guys have made it to the end of the show to connect
• 1:13:26
  everything that we've been saying from the very beginning
• 1:13:29
  to now. And I want you guys to connect
• 1:13:33
  the dots, right? So all these mainstream people
• 1:13:39
  basically saying Bitcoin fixes this, look at what the
• 1:13:42
  government is doing to try to stop it.
• 1:13:45
  And then the question that I want to leave for you guys over
• 1:13:47
  the weekend is not what is money?
• 1:13:50
  What is government? And why should should the
• 1:13:56
  government, especially in the United States, you know, this is
• 1:13:59
  supposed to be a free country. You're free.
• 1:14:02
  Your speech is protected. Your right to bear arms is
• 1:14:04
  protected. The right to an opinion, right
• 1:14:08
  to privacy, all of those things are protected.
• 1:14:11
  They aren't privileges given to you by government.
• 1:14:15
  They're things that were bestowed to you by God.
• 1:14:19
  And that's the way it's framed. So now that we are in this stage
• 1:14:24
  in history where we are in the separation of money and state
• 1:14:28
  and. It's exposing the.
• 1:14:31
  Incentives of these institutions and the state, which is supposed
• 1:14:37
  to be by the people for the people.
• 1:14:39
  But Bitcoin and what we're what it's really doing is it's
• 1:14:41
  exposing it to be by the state for the state.
• 1:14:47
  It's important to remember where we are and it's important to
• 1:14:50
  remember that each and every single one of us can make a
• 1:14:53
  difference. We don't need a platform.
• 1:14:56
  So every time you see Gary Gensler or the Treasury or a
• 1:15:01
  central bank account or something on Twitter or the New
• 1:15:04
  York Times or all the legacy media, go in there and try to
• 1:15:08
  just, you know, shout BS from the rooftops.
• 1:15:13
  Get in there, make your voice heard.
• 1:15:16
  I love this quote by. Jeff Booth, I'm going to.
• 1:15:18
  I'm going. To end it with this, which is if
• 1:15:24
  the international rules based order is built on a system of
• 1:15:32
  theft, what do you think? That rules based.
• 1:15:36
  Order is going to require. Coercion and censorship.
• 1:15:45
  Simple as that. So anyways guys, the last thing
• 1:15:48
  I want to say last little bit and then we're rolling it out.
• 1:15:51
  Bitcoin is fighting a cultural war just as much as it's
• 1:15:54
  fighting a monetary war. And as we know, once you start
• 1:15:58
  holding Bitcoin, you start to see the world differently.
• 1:16:01
  Once you get on the Bitcoin operating system, you
• 1:16:03
  fundamentally view the world differently.
• 1:16:05
  And a lot of this does have to do with our behaviors as a whole
• 1:16:10
  on planet Earth right now and being incentivized by the Fiat
• 1:16:14
  system. And Bitcoin is fundamentally
• 1:16:16
  changing that. You know, block by block, person
• 1:16:18
  by person, the world is changing in real time once they all start
• 1:16:22
  touching Bitcoin and getting involved in Bitcoin.
• 1:16:24
  So this is the, this is how we win.
• 1:16:26
  It is a cultural movement as much as it is a monetary one, as
• 1:16:29
  much as it's going to be a political one.
• 1:16:31
  This is a movement about people and this is how we win 100%, one
• 1:16:38
  individual. Are at a time winning over the
• 1:16:40
  hearts and minds of people, meeting them where they are.
• 1:16:44
  This is not left versus right. It's not liberal versus
• 1:16:46
  conservative. It is the party of Green, the
• 1:16:49
  party of Fiat versus the party of Bitcoin, the party of freedom
• 1:16:53
  and hope and opportunity and peace and prosperity.
• 1:16:56
  Anyways guys, this was simply Bitcoin live for the week of
• 1:16:59
  September 27th, 2024. This is the Friday episode.
• 1:17:05
  I'm your host. Nico is my legendary Co host,
• 1:17:08
  Optimist Fields. Hope you guys have an amazing
• 1:17:10
  weekend. Smash the like button.
• 1:17:12
  Consider subscribing if you feel like we provided you value.
• 1:17:15
  We're simply Bitcoin live. Go out, go outside, touch some
• 1:17:19
  grass, get some sun, eat some steak, enjoy your family.
• 1:17:22
  Family's the most important. Love you all.
• 1:17:25
  We'll see you back on Monday for a brand new episode.
• 1:17:27
  Stay tuned for Dante Cook dropping Bitcoin simply episodes
• 1:17:32
  today and tomorrow and a clip on Sunday.
• 1:17:35
  The live show will be back on Monday.
• 1:17:37
  Love you guys take care. Peace out everybody.
• 1:17:41
  Brought to you by. Bitcoinwell.com A.
• 1:17:43
  Bitcoin only platform on a mission to enable financial
• 1:17:46
  independence.