Latest / Simply Bitcoin / Charlie Munger Calls for Bitcoin Ban | EP 668

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Charlie Munger Calls for Bitcoin Ban | EP 668 · Simply Bitcoin

0:14
Yo welcome to another episode of Simply Bitcoin live.
0:17
Your number one source for the peaceful.
0:18
Bitcoin Revolution recovery can use called romantic Warfare will
0:21
be your guide through the separation of money and state.
0:24
Today, we're going to talk about incentives.
0:26
We're also going to talk about the continuing effect.
0:29
I know that some people say differently and the reason we're
0:32
going to cover that is because Charlie Munger who has been
0:35
bashing Bitcoin for quite a while.
0:37
Now data did a piece in the Wall Street Journal, who saying
0:43
finally the quiet part out loud which is calling for the Banning
0:47
of Bitcoin, right? So we're going to talk about why
0:51
he's doing that, why this ninety nine year old right?
0:54
That unless you know something that we all don't you know human
0:59
mortality can only last for so long.
1:01
Right. What is he care?
1:02
Right. What does he care about what
1:05
people are going to do into the future, right?
1:07
Because look like the reality is that like if you're under the
1:10
age of 35, I would make the argument that Is not a choice.
1:15
Bitcoin is like like, it's, it's a necessity for your life,
1:21
right? You you've, you know, you've
1:23
been definitely severely affected by this crazy, the
1:30
crazy money printing, the effects of that, on society.
1:33
And we've talked about this many, many times, right?
1:36
If you are in the lower and middle classes, which the
1:40
younger you are, you know, the less money, you make, the less,
1:43
you know, You've had to build up a career.
1:45
Build up income, build up a business.
1:46
So the reality is that the lower middle classes, right?
1:50
That don't have the means to save and assets you get poor
1:56
when they print money, right? It's very it's the wealthy that
1:59
do have the means to save and assets.
2:02
Therefore benefit from asset inflation, they get wealthier
2:04
because they're holding onto stocks or holding on to real
2:07
estate. Every time they print money, all
2:09
that goes through the roof, but the real work hasn't been
2:12
rewarded. The wages have Relatively the
2:14
same. So what does that?
2:16
What does that create leads to very, very powerful.
2:21
Very, very wealthy individuals that leads to continuing are
2:25
conferences like the world economic forum and it leads to
2:29
people like, Charlie Munger that have most benefited from this
2:32
system screaming from the rooftops.
2:35
When there is a clearly alternative, there's a viable
2:37
alternative to that system, right?
2:40
And it blows my mind how much it gets under his skin, especially
2:45
at that age. Like why does it matter to you,
2:47
right? So we're going to talk about all
2:49
that we're going to. We're going to explore this.
2:51
I'm really excited. But first I want to bring up my
2:54
awesome co-host. How you doing Opti?
2:56
They everyone caught me like I thought I had like two seconds
2:58
to before. I could take my gum out but he
3:00
started. I was like oh crap cotton 4K
3:03
bro. How you doing this morning?
3:07
I'm doing good dude. Doing real good.
3:10
You know can't complain. Life's good man.
3:11
I get to do this every single day and I get to come hang out
3:14
with my buddy, Nico every day. Like obviously, this is fun,
3:18
this is always fun. But yeah, man, this this article
3:21
dropping this morning or I think it was last night, actually,
3:26
man. There's, there's some, there's
3:28
some good dunking to be had today with this article, I'm
3:31
excited for this one and then also on the same vein, it's kind
3:35
of something that I've been talking about lately, and we've
3:38
got chastise in the past. When we tell people that the
3:42
revolution is taking Bitcoin into self custody.
3:45
Well, Looks like Jack Dorsey is taking that leap as well and
3:50
causing all kinds of good. Good chaos and telling people to
3:53
Stacks, add sand and taking the the freedom tools and arm or
3:58
better yet calling out the freedom tools so that people can
4:01
use them. So, I got a little story time on
4:04
the culture today and it's going to lean into this narrative that
4:07
you and I've been pushing the last couple of weeks so I think
4:10
this is a good little learning point.
4:12
Absolutely. Well I'm excited, that sounds
4:14
that sounds interesting. All right.
4:16
D, let's get two numbers. Let's do this.
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of people have outsourced that personal responsibility.
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Where is the storage of Our wealth, whether it is the
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Outsourcing of I would say education as well, right?
5:21
So many of these things, right? Anyways, the Bitcoin price at
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the time of recording is 20 3830 SATs per dollar 4190 six block,
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height 770, 4751 reachable Bitcoin nodes, thirteen thousand
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capacity 5314 Bitcoin capacity values around 126 million u.s.
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dollars. The realized monetary inflation,
5:56
I love that number is 1.7 6% continuing to take Fiat
6:01
currencies to Absolute school and the market capitalization of
6:04
Bitcoin 459 billion dollars with a be.
6:09
Anyways, I have a clip of Charlie, Munger and some some
6:14
comments that he made about. Bitcoin.
6:16
And that's really what I want to focus.
6:18
Today's episode on is, let's talk about incentives or saying
6:22
in the beginning. Let's talk about why he feels
6:25
this way. And also, with the de facto,
6:28
because if you're against bitna, I was about to say it right
6:31
there against Bitcoin, you're against freedom, but, you know,
6:34
that sounds like a meme, right? It's like, oh, you know, like,
6:37
like it's over-the-top. It's hyperbolic is whatever.
6:41
Look, you either want a money that is separated from State.
6:46
Or you want a money controlled by the state.
6:48
And what is the next iteration of that money controlled by the
6:50
state? What is total control of money
6:52
for you? Central Bank, digital
6:55
currencies. So not only does he critique
7:00
Bitcoin, right? He advocates for slavery money,
7:05
which are Central Bank, digital currencies, and he's taking his
7:08
cue. From communist China, right?
7:13
And keep in mind, right? That the same government that is
7:19
currently in control of China. Right?
7:21
Is responsible for tens of millions of Chinese deaths,
7:25
right? Same scene government.
7:27
Right, so advocating for that type of government that has been
7:33
known for human rights abuses, right?
7:35
The, the recent one is the uyghurs right?
7:38
Like, That's crazy to me. Dude, that is absolutely nuts.
7:44
So nuts. Anyways, let's check out this
7:46
clip. It's about a minute long and
7:47
then we'll talk about it. Bose, you could make a lot of
7:51
money trading, freshly harvested, baby Brands.
7:55
Would you do it? Or would you say that's immoral?
7:58
You wouldn't trade him with you two.
7:59
It's two to Awful a concept. Well, to me that coin is almost
8:05
as bad. It's not having any desirable
8:10
social purpose. We've got debit cards, isn't
8:14
like we don't have a payment system.
8:16
We've got WeChat and China. Incredibly efficient payment
8:20
system China. Doesn't eat Bitcoin. and if you
8:25
have, A WeChat. Why would you do it in a medium
8:31
where the value changes enormously?
8:34
Nobody is right. Mind, would want to payment
8:36
system. Where the very thing you were
8:38
using? One up, one down by 20% the day.
8:41
No, I regard the thing as a, as a combination of dementia and
8:46
immorality and I think the people are pushing it are a
8:51
disgrace. So a couple things there, right?
8:56
So we've talked about many times as concept of projection right
9:00
project, projecting onto US what it is that you feel?
9:03
You are themselves. What you feel?
9:05
You are yourself, right? Central Bankers have described
9:08
Bitcoin in so many of these interesting ways, right?
9:14
And I would make the case that, you know, he's projecting their
9:17
right. The fact that he says that
9:20
somehow bitcoiners are a moral, right?
9:23
You know, the what was that that Legacy Media corporate media
9:27
posts is called a Psychopaths got into that point, right?
9:30
Calling us in moral. And then again, once again, what
9:33
he's suggesting is, we chat, right?
9:37
So, thinking about WeChat that, he fails to mention there is
9:40
that we chat gives the Chinese government complete and utter
9:44
control over what people can say and what who people can pay
9:51
right? And the other aspect Aspect,
9:53
which is no desirable social purpose.
9:56
Well, I would make the the rebuke to that and I would say,
10:00
well, Charlie Munger clearly has Financial privilege and take
10:04
away. You know, his wealth.
10:05
Just put that aside for a second.
10:08
What about someone in Venezuela, someone in Argentina someone in
10:14
turkey or someone in Afghanistan or Cuba?
10:17
For example, Cuba and Afghanistan.
10:20
I love those examples Beaker Nigeria.
10:23
Shout out to our friends over there.
10:26
We're in these countries. Right Bitcoin happens to be one
10:31
of the only ways that you can interact with the global
10:36
economy, right? When the u.s. pulled out of
10:38
Afghanistan. One of the first things that
10:40
they did was shut off the country from the Global
10:43
Financial system. Right Bitcoin, kept working in
10:48
China. I'm sorry in Afghanistan, right?
10:51
If you're Cuban, right? You know, one of the things if
10:54
you send money to Cubans, the way that it works now is you
10:57
could send money from Miami, right?
10:59
Has a lot of Cubans here. You send money for Miami, you
11:02
send money back home to Cuba, right?
11:05
What the government does is they take the dollars, they pocket
11:07
the dollars and they hand you this this, this this version of
11:12
the Cuban peso, right? So, They take the dollar which
11:15
is I can consider a shit coin. But for this for this example,
11:18
let's say the dollar is the good money in that particular
11:21
situation. And then they hand you a worse
11:23
money so they pocket the good money and the Hand your worst
11:26
money. Now what is bitcoin allow
11:28
Bitcoin allows because it is peer-to-peer it allows you to
11:32
circumvent The Gatekeepers of money, the intermediaries right?
11:39
So I think that's what it's about.
11:41
I think it has to do with control right and someone who's
11:45
benefiting from this system, why would they advocate for
11:49
something, that diminishes their control, right?
11:53
And using that logic, it kind of makes sense.
11:56
Why the continuing are conference, is the world
11:59
economic Forum would be so against Bitcoin.
12:02
It kind of meant makes sense. Why certain Central Bankers like
12:05
off these ex girlfriend? Christine Lagarde would be
12:08
against Bitcoin. It makes sense.
12:10
Now, if you look at it from from those lens, right, why would
12:14
they give up? Why would they want to give up
12:16
control and power? Now to kind of advocate for them
12:19
a little bit? I don't think it's like, you
12:22
know, a lot of people like you know, these people are demonic.
12:24
These people are evil like put all the conspiracy theories
12:26
aside for a second. You know it's American Honda
12:29
that said this, right? No one's better than their
12:31
incentives, right. And they're not incentivised to
12:35
give up. Our they're not incentivized to
12:37
give up control. In fact they benefit
12:38
tremendously. Lee from how the current system
12:41
is. So why would they advocate for
12:42
an alternative? Right?
12:43
This also applies to the United Nations that came out with an
12:46
article that said, we must die' incentivize the adoption of
12:50
Bitcoin and shit coins in developing countries without
12:53
mentioning the fact that people are adopting Bitcoin.
12:56
She coins of developing countries because the
12:58
alternative is cbc's and cdc's don't solve the problem of
13:03
inflation. So even if you introduce a CDC
13:06
in Nigeria, for example, right? You still have double-digit
13:11
inflation? Why do you care?
13:13
You know, and one last thing and then I'll pass it on top T,
13:16
right? Which is what he was bashing
13:18
Bitcoin for and this is what the central Bankers, favorite
13:21
excuses. This the excuse that Justin
13:23
Trudeau used in that video that we played for you guys a couple
13:26
days ago. Right.
13:27
Which is Bitcoin doesn't is unusable because of Bitcoins
13:32
volatility, right? Bitcoins volatility makes it an
13:35
unusable currency. Well I would say Bitcoin is
13:38
currently in the store of value. All you phase, right?
13:41
And then in a decade or so, right?
13:44
I'm sure that once the volatility decreases, it will
13:47
move on to the medium of exchange, right?
13:51
It's not quite there yet, right. And at the end at the end of the
13:53
day I still think, do I still think it's doing great.
13:56
Right. You know, these Legacy currency
13:59
systems have been around for decades and decades and decades
14:03
Bitcoin has only existed for less than two decades are like
14:06
around. What?
14:07
Like 14 years, it is and You know, it's already become legal
14:11
tender in a country in Central America, of course, I'm talking
14:15
about the Savior, El Salvador and it's already, you know, and
14:19
Michael sailor, of course, you know, being brave and using, or
14:24
his theory of the case is Bitcoin is a viable alternative
14:28
to put on your treasury rather than Fiat currencies, because of
14:32
inflation, right? And he does all these beautiful
14:35
examples about how ya currencies are designed to lose energy.
14:39
She overtime and Bitcoin protects that, right?
14:43
So it's just it's just crazy dude.
14:46
I mean but that's what he said and that interview was about a
14:50
year ago, fast forward and now he's saying the quiet part out
14:54
loud and I would make the case that he's using the same excuse
14:59
that. Elizabeth Warren used to justify
15:02
the bill that she introduced, she's using the FTX blow up.
15:06
So once again dude, like the commingled All of, You Know, The
15:13
Faults of crypto which in my opinion is like Fiat times 100,
15:17
right? And you're committing yuling it
15:19
with Bitcoin, there's two things that are happening here, right?
15:22
There's all the gambling in the speculation, that is happening
15:25
in the crypto aspect of things, right?
15:27
The VCS are, this is literally what it is and then there is the
15:31
peaceful Bitcoin Revolution which is a separation of money
15:34
and state which can only be truly achieved with something
15:38
that is truly. Sized.
15:40
There's two separate things that are happening at the same time
15:43
and unfortunately, the Legacy Media and it gets to a point
15:46
where I would start to say that they're doing it on purpose.
15:49
Our chameleon ARCA mingling the to write.
15:52
So fascinating, very, very, very fascinating, what's happening,
15:56
anyways, Opti, what, what are your thoughts, did you bring up
16:00
the article? The like, what he said this
16:03
morning, I'm gonna, I'm gonna cover it in the news.
16:05
I want to spend a lot of time to look at.
16:06
All right. Perfect.
16:07
All right. Well, alright.
16:09
Um, My two cents on this is you know for being a proud American
16:14
capitalist. Charlie really likes the you
16:16
know, the Chinese Communist system.
16:18
It seems like any chance he gets.
16:20
He's always referencing it. As like this is you know, the
16:23
Holy Grail of how to coordinate Human Action in it.
16:28
To be honest it's kind of disgusting like you know knowing
16:30
exactly what's going on over there.
16:32
Knowing he even mentioned WeChat you know like as a favorable
16:36
monetary system and as as we know as Bitcoin is it's like you
16:40
can get completely shut off from WeChat if you are not saying or
16:44
doing the correct things and like this is the future that
16:46
they want for. You is just to completely
16:48
control every aspect of your life and and I mean like let's
16:52
just get into like the level of criticism that that Charlie
16:55
Munger talking about, you know what like he created bitcoin to
16:58
debit cards. Like this isn't what Bitcoins
17:01
about again? He reference like volatility
17:04
like yeah Bitcoin volatile on on a short-term point of view but
17:09
like oh Over the long term. Number goes up like Bitcoin is
17:12
the only monetary Network open to everyone.
17:14
You don't need to go to a bank, like I put it in a meeting
17:16
yesterday like Bitcoin is the only Bank that's open to the
17:19
whole world and again you know we talk about it all the time
17:22
here. I'm simply Bitcoin about the
17:24
projection from the corporate press from the can t on or the,
17:27
the can't illionaire is I don't know exactly how to say we
17:30
should do a poll, which way do you say to actually?
17:33
It's about the level of projection from these people?
17:35
Like if anyone has dementia or is a moral I'd say it's Charlie
17:39
Charlie Munger like this guy looks like a cadaver over here
17:43
and I don't want to be you know, ages here but like it's fitting
17:46
that the rats are against rat poison.
17:48
Like Charlie & Co have profited off the system and so of course
17:52
we're not going to destroy their cash, pig-like stack baby brains
17:55
guys like continue to stack shot.
17:57
Thanks, please lean into the memes bro.
18:00
And it did level rejection like, man, stock baby brains because
18:04
that's what Charlie Munger called Bitcoin.
18:06
Yeah, obviously obviously, That it's just.
18:10
It's absolutely insane. You know, we say it all the time
18:13
here on the show. It's these people in power.
18:16
They do not have your best interests in mind.
18:19
They do not want you to escape the matrix.
18:21
So what are we going to do? We're going to take Bitcoin in
18:23
the South custody, we understand what the game is.
18:25
The Fiat game is rigged against you and the people at the top
18:29
are obviously not going to give you the Escape door for your own
18:32
prison. Like it's Bitcoin or slavery for
18:34
a reason is because the game is rigged against you and of course
18:37
they're not going to push something.
18:39
That helps you get out of that. It's like they make money, they
18:42
profit off the Fiat system. So of course you know Charlie
18:45
Munger is not is not going to lean into telling you to take
18:49
Bitcoin into self custody. Amen to that brother.
18:53
Alright everybody let's get some news.
18:55
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All right, everybody. So before I get into the Wall
19:36
Street Journal article, I want to talk about the Ceiling effect
19:40
because incentives are important, right?
19:44
And you have to understand, like, for you don't understand
19:48
why Charlie Munger saying something like that.
19:50
You have to understand his incentives, right?
19:52
And I think that this is very appropriate to understanding
19:56
that. So, this is, so, this is
19:58
defining it, it's in. It's in, it's an article or post
20:02
by the SW Institute, swf Institute.
20:06
Yep. And the name of the article for
20:09
audio There's is what is the continuing effect and why it's
20:12
even more important? Now, A continuing effect is a
20:15
change in relative prices. Resulting from a change in money
20:18
supply. It is the uneven expansion of
20:20
the amount of money, 18th century, French banker and
20:23
philosopher. Named Richard cantillon coined,
20:25
the term ordinance in the 1680s, wrote an essay called essay on
20:32
the nature of trade. In general.
20:34
Also referred to an essay on economic theory, continuing
20:37
preceded, Adam Smith. By generation since the 2000s as
20:42
the world's largest central banks started to run out of
20:44
policy tools. Many are aggressively creating
20:47
new money during each major financial crisis.
20:50
The current status of the US economy is experiencing
20:53
inflation expanding during the B administration at record levels,
20:56
resulting in increasing and increase in prices that are
21:00
occurring in energy blue-collar labor and food, but not in other
21:04
products and services with the creation of the US Federal
21:07
Reserve and the u.s. exiting the gold.
21:09
Nerd, the continuing effect has favored investors and owners
21:14
over workers parentheses wage earners in the aggregate.
21:19
So kind of make sense, right? It kind of makes sense.
21:22
Why I someone like Charlie Munger would say what he said
21:27
right after reading that, right? It benefits the the continuing
21:30
effect has favored investors and owners and owners over workers,
21:34
right? And then think about who the
21:38
majority. I think about the generator.
21:39
The, the generational thing who do you think, generationally,
21:43
who do you think are the majority of investors and who do
21:46
you think are the majority of owners, right?
21:48
And they obviously want to keep it that way, right?
21:51
So now that I said that it kind of starts to make sense, why the
21:54
contain lien conference propaganda is you do nothing and
21:58
be happy. So if you don't own anything and
22:01
be happy who's going to own everything, right?
22:04
They will, of course, that's kind of kind of starts to make
22:08
sense when you it was enacting the dots.
22:09
So, here's Wall Street Journal article, it dropped yesterday
22:13
and made quite a splash on Twitter.
22:15
And another thing that I would tell to Charlie Munger is like
22:19
You know, so supposedly someone who is a huge fan of the free
22:22
markets, like how could you be a fan of the free markets and also
22:27
call for the ban of something? If you are so confident in the
22:31
dollar and the adoption of the dollar and the continued use of
22:35
the dollar you'd want, the dollar to beat something like
22:38
Bitcoin on the free market, but they don't want to compete Fair.
22:42
It's not about Fair competition. This is about We have to
22:46
continue doing this. And this one also, not a fan of
22:50
legal tender laws either, right? I think legal tender laws are BS
22:54
and specifically, here in the US, like, why are we being
22:57
forced by law to use a money that is designed to lose value?
23:02
And that what I just said, just now and we are actually talking
23:05
about this last night on simply Bitcoin IRL with with dr.
23:07
Jeff Ross is that's why when the White House, they release their
23:15
executive order that led the US Treasury to write a report that
23:20
was titled called, it was titled the future of money, and that
23:23
entire report, they mentioned payment platforms, they
23:26
mentioned stable coins, they mentioned cbc's but they don't
23:29
mention Bitcoin and I think like why are they mentioning Bitcoin?
23:33
The reason they can't mention Bitcoin is that for them?
23:36
They don't even want people to conceive.
23:40
That money can exist without its stealing from you.
23:44
And the reason that they don't want you to even conceive that
23:47
is because how the current system is set up is the
23:51
government can spend an unlimited amount of money via
23:55
deficit spending, right? They can spend money that more
23:58
money and they do this every single year the u.s. spends more
24:01
than a trillion dollars every single year than it collects in
24:05
tax revenue. The reason that they're able to
24:07
do that is because the money printer They've normalize this
24:11
idea of inflation, right? Well bitcoiners are saying is
24:15
that Dad doesn't need to exist but they can't even normalize
24:20
it. They can't even give it, you
24:22
know, the time of day. Why should they anyways?
24:25
Let's check out the article. It's titled why America should
24:29
ban crypto. It isn't currency.
24:32
It's a gambling contract with a nearly hundred percent Edge for
24:36
the house. I would like to make the
24:37
argument Who's the house in Bitcoin?
24:41
There is no house, right? And a house is were it's like
24:44
it's a gambling term, right? The, you know, whenever you go
24:47
gambling, whatever game you play, whether it's black track
24:52
or, you know, the machines or whatever it is, whatever floats
24:54
your boat, right? The house always has an edge,
24:57
the casino always has an edge, so that's what he's referencing.
25:00
So, like, the Bitcoin its rules without rulers, right?
25:05
You are the one running the software if you run your own
25:08
node, which is why we Ticket for it.
25:09
You can build one or you could buy one, obviously.
25:11
We recommend our sponsor, not all the freaking awesome, check
25:14
them out. So But of course, it's the
25:21
chameleon of the two things, right?
25:23
It's like we are going to use defaults of crypto which in my
25:28
belief, right? It's the fault of all
25:31
centralized money and we're going to come Engel that with
25:34
Bitcoin and kind of create this off you station layer and hope
25:38
that people will notice. Well, you can only do that for
25:40
so long and of course, why do I say the commingling?
25:43
Look at the thumbnail that they're using.
25:45
Its two pictures, not one picture.
25:46
Usually we put we put one picture of the person.
25:49
Going to cover in the thumbnail they wanted to make it very
25:51
clear that crypto some somehow has to do with SBF, right?
25:58
Anyways. And the u.s. it's about a
26:01
two-minute article in the US and really owned companies.
26:04
Have issued, thousands of new cryptocurrencies, large and
26:07
small. These have later become publicly
26:09
traded without any government pre-approved disc disclosures.
26:13
That is true, that is what happens when by Nance creates a
26:18
token. That is what Happens when FTX
26:20
creates a token, that's what they're doing, right, but this
26:25
isn't Bitcoin Bitcoin, there is no privately owned company.
26:29
Anybody could issue more Bitcoin, anyone can make more
26:32
Bitcoin, but you have to go by a minor.
26:35
The pay for the energy and you have to mine it just like
26:38
everybody else. There's only three ways to get
26:42
Bitcoin. You have to buy it.
26:44
Mine it earn it or steal it. There's no free printing there.
26:50
There is. No.
26:51
Just P button that you could press, and it just creates comes
26:56
out of thin air, right? And the argument that I would
27:00
say to this first line is no one should have the power to create
27:06
money for free. That someone else has to someone
27:09
else has to work for. I refuse to use a money that
27:14
another man can create for free. That's what I would say to this
27:18
anyway. As in some cases, a big block of
27:20
cryptocurrency has been sold to a promoter for almost nothing
27:24
after which the public Buys in at a much higher prices without
27:28
fully, understanding the pre dilution in favor of the
27:30
promoter. That's also true in the crypto
27:32
space, all this wild and wooly capitalism is much like that
27:37
described in a remark often attributed to Mark Twain, who
27:40
was thought to have said that a, mine is a hole in the ground
27:43
with a liar. On the top such wretched excess
27:47
has gone on because There's a gap in regulation, a crypto
27:51
currency currency, not a commodity and not a security
27:54
instead. It's a gambling contract with a
27:56
nearly 100% Edge for the house, answered into a country.
28:00
Where gambling contracts are traditionally, regulated only by
28:03
states that complete and laxity. Obviously the US should now
28:07
enact a new federal law that prevents this from happening to
28:10
interesting precedents May guide us into sound action in the
28:13
first precedent. The communist government of
28:15
China recently been cryptocurrencies because his
28:18
wife he concluded that they would benefit that they would
28:20
provide more harm than benefit and the second precedent from
28:23
the early 1700s, England reacted to a horrible depression that
28:27
followed the blow up if a promotional plan to get vast
28:30
profits by using slow-moving sailing ships to trade with very
28:33
poor people halfway across the world, halfway around the world
28:37
with the English Parliament did in its anguish, when this crazy
28:40
promotion blew up was direct and simple.
28:42
It bans all public trading and Common Stocks and kept this ban
28:45
in place for about 100 years. And in that 100 England made by
28:49
far the biggest National contribution to the march of
28:52
civilization as its lead strongly and both the
28:55
Enlightenment and the Industrial Revolution, and Two Boots
28:58
spawned off a promising. Little country called the United
29:01
States. Do you see the framing, man?
29:07
We must bad Bitcoin because it will lead to the most prosperous
29:12
prosperous hundred years you've ever seen this dude's 99 years
29:17
old. But holy cow, the framing here,
29:21
the framing, the audacity, and also remember the first example
29:24
that he said, he's like, we must do this because this is what the
29:27
Chinese Communist party did, which I find fascinating.
29:31
What should the u.s. do after band of cryptocurrencies is in
29:34
place, while won't action might make sense.
29:36
Thanks to Chinese Communist. Party up a communist leader for
29:40
his Splendid example of Uncommon Sense, We must think she's
29:47
xingping. I mean there you go if they
29:50
tried a band you know Bitcoin and crypto is in the United
29:54
States. Charlie Munger is telling you
29:57
who we should think. Anyways, let's take a look at
30:00
what the f happened in 1971. And I'm going to connect it with
30:04
the thing that we were talking about earlier, right?
30:06
The continuing effect and it's the idea that the continuing
30:10
effect has favored investors and owners over workers in the
30:13
aggregate. Now they said Is since the 2000s
30:17
but really this is has started happening since 1971. 1971 is
30:22
when Richard Nixon took the u.s. off the gold standard basically,
30:26
it allowed the US government to print as much money as their
30:30
heart desires and that really led to the stagnation of the
30:35
wages, right? But again if you had, if you
30:40
were very, if you are in very close proximity to the money
30:42
spigot, you've gotten tremendous.
30:45
SLI wealthier now from someone in charge, Charlie Munger shoes,
30:49
there's nothing wrong with that, but if you're like, everybody
30:52
else that sucks and this is why we Bitcoin anyways, so growth in
30:56
productivity and hourly, compensation since 1948.
30:59
It's been pretty, you know, pretty close together. 1971
31:04
compensation is only risen 115 percent while the productivity
31:09
has risen two hundred and forty six percent, right?
31:11
Also, real GDP real wages and trade policies in the The US and
31:16
again around that 1971. Number real GDP, per capita has
31:20
gone through the roof. While the real median weekly
31:23
earnings of full-time workers has stayed relatively stagnant
31:27
income gains widely shared and early post-war decades, right?
31:31
So in 1971, you started seeing the difference, right?
31:35
And it's just example, after example, after example, you
31:39
know, if it was just one example, You'd say, okay that's
31:43
a coincidence, but the fact that there's so many examples, you
31:46
can't say that in, good heart, and good faith.
31:49
That it's just a coincidence, right?
31:50
You can't say that. It's in good for you.
31:52
Can't say in good faith. That it's just a coincidence
31:54
that around 1971, right? That Trend started to happen,
31:59
right? So I don't know, man.
32:02
I think it's disgusting what he said.
32:05
I think it's short-sighted. I think it's also completely
32:08
irresponsible from someone who's coming.
32:10
He's so Ooh intial. So, wealthy, right?
32:13
And why do you think he's dropping that in the Wall Street
32:16
Journal? It's not for us.
32:17
Peasants to read its. He's hoping to pressure some
32:21
Regulators, right? To hey, you guys have to act on
32:24
this and that example that he used of the British, right?
32:28
Like dude, like talk about like taking things out of frame, you
32:34
know, to fit your political, your political ends, right?
32:38
It is it is such BS, dude. And I'm gonna Tie this up with
32:43
with, you know, the piece, the very powerful piece that core
32:46
eclipse in wrote CEO of swan, right?
32:49
The race to avoid the war. This is why it's so important,
32:53
right? This is what the race is.
32:54
You want to know what the race is.
32:55
There you go. Here it is, right?
32:57
This is this is what it is. You're looking at it, right?
33:00
There are very powerful people that stand a lot to lose.
33:05
If Bitcoin succeeds. Now it doesn't mean that they
33:09
just can't do. They can say you know what?
33:10
I'm just going to jump on the Bitcoin train and I'm going to
33:13
benefit like everybody else. No, no, they don't want that.
33:17
They want special privilege. They want to hold on to that
33:20
power. Even if it means everybody else
33:23
loses, they want a special seat at the table.
33:27
Well, bitcoiners are saying is like, dude, there shouldn't be a
33:30
special seat period. Everyone should have a seat.
33:34
Everyone should have the ability to save for a better future.
33:38
Why, why is it? So why is this such a hard ask?
33:42
Why is it so bad that we are able to save store or spend?
33:51
Money that doesn't steal from us.
33:54
Just put it as simple as that. Why is that so crazy?
33:58
Why does that piss some people? Why does that?
34:02
Why does that drive them? So up the wall because we're not
34:05
asking something crazy. It's not a crazy ask, right?
34:10
So anyways dude, what do you think?
34:14
What are your thoughts on the continuing effect?
34:17
That's why you broke up with with Christine, right?
34:19
Well, I tried to Cozy up. The kantian Insiders but she
34:23
wouldn't give me any money myself.
34:24
So, you know, I could only be a sugar baby for so long, Nico,
34:29
but yeah, man. I mean, just in layman's terms.
34:32
I know you gave like a, like, the, the official long
34:36
description of what the kantian effect is.
34:38
But it's very simply like those closest to the money supply
34:41
benefit the most and they can. T on effect is why you're poor,
34:45
the unproductive class, get the print money, they get to buy
34:48
assets and in the process all the Prices of everything else,
34:52
gets inflated for the average person.
34:54
Like this is the name of the game and this is why Charlie
34:56
Munger & Co, obviously don't want you guys owning Bitcoin.
35:02
And and to be completely like technical, I'd say, like he's
35:06
not really wrong in regards to crypto like crypto house.
35:09
Does always win, you know, they have pretty mind shit coins as
35:12
private companies that are in control of those tokens but
35:15
Bitcoin is not crypto. And this is what we continuously
35:18
try to talk about here. Like there's no pre mining
35:20
Bitcoin. No privately owned company that
35:23
runs Bitcoin. There's no head to chop off like
35:25
Bitcoin is fundamentally different than cryptos and as a
35:31
senator what's-his-name Warren Davidson said you know there's
35:35
Bitcoin and then there is shit coin and I mean in my opinion
35:39
this is just kind of that then they fight you stage like at
35:42
least we know where the narrative is going to go.
35:45
He said it in that one paragraph that Nica was laughing about
35:49
about the the years of England. It's like they are going to
35:53
angle Bitcoin as Bitcoin is bad for society like be ready for
35:57
it. Like this is the end game right
35:59
now. They're just saying, you know,
36:01
oh it's for speculative reasons it for gambling, but it's only a
36:04
matter of time before they tried to blame all of society's ills
36:09
on bitcoin. We seen it happen in the past in
36:11
regards to the internet in regards to all kinds of
36:14
technology and this is the then they fight you stage guys.
36:17
Like they're going to completely come out full day.
36:21
Racked attacks on bitcoiners and Bitcoin with the narrative.
36:25
Bitcoin is bad for society. Like just just prepare for this.
36:29
This is why I tell you guys to get your mind right?
36:31
Get your body right? Because this is the spiritual
36:34
warfare that we are heading into like all out attack and calling
36:38
us evil with their projection and then I mean just to like you
36:42
know zoom out a little bit, like these dinosaurs are irrelevant,
36:45
like we shouldn't be. Ignoring the noise, you know,
36:48
build on the Bitcoin standard and ignore the Fiat.
36:51
Like Charlie Munger & Co are very obviously ingrained in the
36:55
Fiat system and this is how they got rich.
36:58
This is how they got, so powerful is by playing the game.
37:01
And so obviously again like I said in the beginning they're
37:05
not going to tell you that the game is rigged and that that I
37:08
made my billions off the back of a rigged game and you know,
37:13
basically just accept it peasant.
37:15
Like it's it's it's really a slap in the face because what do
37:20
we try to do here? I'm simply Bitcoin and as
37:22
bitcoiners it's just provide a money that that stop stealing
37:27
from you. Well these people got rich by
37:30
stealing from society and from the future and so they're
37:33
obviously not going to talk down on the very system that made
37:38
them Rich, they're fully ingrained in it.
37:40
This is this is why they are able to be in the position they
37:43
are. So as bitcoiners obviously you
37:46
should kind of be mad at dish. Like yeah, it feels like a slap
37:49
in the face as far as I'm concerned.
37:51
But hey, this is why we do what we do.
37:53
That's exactly what it is, dude. It's literally a slap in the
37:56
face. And yeah, but I mean this is why
38:00
we call it. The peaceful Revolution.
38:02
This is why we call it the separation of money and state.
38:05
This is what it is like these. These attacks will continue to
38:08
increase as more and more people decide to opt out.
38:15
Right? And then the attacks will
38:18
increase in severity, and they will be a lot more drastic.
38:22
And I think that if you want to, like, kind of look at a Playbook
38:26
and so far, this book has been incredibly accurate.
38:29
I think the only thing that they got majorly wrong was when they
38:32
said it was the end of communist China.
38:35
But other than that they've got a lot of things, right?
38:38
Which is a sovereign individual. I really recommend reading it
38:42
and you know because so far it's Really predicted a lot of how
38:49
how governments would react to certain things and they also, of
38:54
course, they predicted Bitcoin, right?
38:55
Which I think is absolutely crazy anyways.
39:00
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39:02
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right, guys. Nico, are you going to do some
39:37
of those plugs? Yes, I am.
39:42
We can do letter. All right, I'll keep it going.
39:46
I'll keep it all, and I'll keep it rolling wide, NECA figures it
39:49
out. All right, guys, look, this is
39:50
the culture. Oh wait, here he goes, here he
39:52
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39:54
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Anyways Opti this is all right, Jack Dorsey.
40:30
Yeah, yeah. I got I got the receipts So I
40:32
brought I brought a couple tweets as well, but I kind of
40:35
wanted to give a little context before and it's something that
40:39
we've been talking about a lot on this show for a couple of
40:42
months. Now it's this idea of like look
40:46
you guys you know out there there's a lot of Talking Heads,
40:50
there's a lot of people that are focused on the problems of
40:52
society but as bitcoiners as someone that is a simply Bitcoin
40:56
viewer, a friend of ours that shows up every single day in the
40:59
chat. You understand what we
41:01
understand? Like we know what the problems
41:03
are in the world. The everyone is talking about
41:06
the problems but very few. People are talking about the
41:08
solutions. And I've been saying for a while
41:10
in the Twitter spaces and on the show as well, that I have a
41:14
simple heuristic now. And if you consider yourself a
41:16
freedom fighter, you know, you consider yourself someone that
41:19
calls attention to the problems, you know.
41:23
I'm out here for awareness and all this stuff.
41:25
Well, I have one simple heuristic in one Watermark, if
41:28
you are not pushing people towards self custody, naming the
41:31
wallet. It's that you like like we do
41:34
every single day, you know, the Bitcoin wallets that we like,
41:36
Spectre Jade cold card seed, signer blue-green Breeze, Moon,
41:42
Phoenix Zeus. I might miss one today, but I'll
41:46
probably say at least two more times before the end of this
41:48
little bit, then you are doing your your audience, your
41:52
Twitter, following your, your viewer count on the television
41:57
or on YouTube or wherever you're streaming a disservice because
42:02
there's Only one thing that is going to help us right now.
42:05
That's going to get us out of this situation and that is
42:08
telling people to take Bitcoin into self custody again, you
42:12
know get Bitcoin however you want whether it is providing
42:15
your services for Bitcoin, whether it is, you know, no kyc,
42:19
whether it's on exchanges, like Swan to me, I really don't care.
42:23
I think more people need to be holding Bitcoin and if you have
42:26
a big audience and you should be directing people to using the
42:30
tools that are out there. There right now, to take Bitcoin
42:34
into self custody and if you're not doing that, then your
42:37
suspect in my book and here I'm bringing the receipts now.
42:41
And you know, say what you want about Jack, Dorsey, you know,
42:45
and what what happens and what he's done and particularly what
42:49
he's been involved with and Twitter, I think that that I
42:52
don't know any inside and all that, but I think this is a
42:56
learning moment for everyone out there.
42:58
I don't care if you have a big following, if you have a small
43:00
following, you need to be Correcting people into South
43:04
custody. And here we got some examples
43:07
from Jack Dorsey shots at the Jack Dorsey because he's doing
43:10
exactly this. So, first and foremost, let's
43:13
just jump in here on his Twitter.
43:15
He's got six point, five million followers on his Twitter and
43:19
like you can see he's got his Noster public key right there in
43:23
his bio. And you know he's doing he's
43:27
doing awesome work out here on Noster and you can see here's
43:31
William. Castor in, I probably butchered
43:35
your last name, bro, forgive me. But he is one of the devs that
43:39
is building on the Damu sap. That is on austere.
43:42
And like, you can see Jack over here, just going easiest way to
43:46
feel. The next level of Noster is set
43:47
up a wallet. Like he is pushing people to
43:50
while enough satoshi's say what you want about while in Satoshi,
43:53
but he is doing more than most people out there that are just
43:56
complaining about the issues out there and he's pushing people
43:59
towards self gusting their Bitcoin which I think is the
44:03
most important thing to be doing.
44:05
And furthermore, not only is he pushing people to sub custody
44:09
but he's pushing shit Corners to self custody is like done first
44:12
Bitcoin. Anything I've added in ages and
44:15
like a Jag, he continuously doubling down and said, boom.
44:18
Now look into wallets where you own all the responsibilities
44:21
like moon or Phoenix. And this is what we're talking
44:24
about guys. If you have a following of any
44:27
sort, then you need to push people towards the tools that
44:30
you like to use because this is How we get the signal out there
44:33
is pushing the Bitcoin wallets the hardware signing devices.
44:37
The mobile signing devices that we liked and look how much he's
44:41
doing this. He literally basically, broke
44:44
wallet of Satoshi, because he's pushing so many people to self
44:48
custody and this is the way again.
44:50
He's got six point, five million followers on Twitter, and this
44:54
is just kind of back to this idea that Nico.
44:57
And I, we got chastise in the beginning about this, because we
45:00
would start off our hour. Maduk Warfare with just Bitcoin,
45:04
is the revolution, taking self custody, is the Revolution and
45:08
then we've upgraded it to every time we say this, I have to name
45:12
the wallets that we like, you know, our sponsors Jade.
45:16
We love cold card. We love seed signer, we love
45:18
Spectre Sparrow, blue wallet, green wallet Moon, while it
45:22
Breeze? Wallet Pine Zeus like these are
45:25
the tools that I use. I have I don't know how many
45:27
wallets I have on my phone. I continuously try to find new
45:31
wallet and push people. Towards the wallets that I like,
45:33
I've been telling you guys, I really been liking Moon while
45:35
it. It seems to onboard people very
45:37
quickly. You know, it's got like two, two
45:39
options, send and receive and as we get more people taking
45:43
Bitcoin into self custody, then this is an Unstoppable
45:48
Revolution, taking Bitcoin into self, custody is the revolution,
45:52
but you got to name the names out there.
45:53
So shouts out to Jack Dorsey for doing that as well.
45:57
Because this is, this is what we have to do, guys, like this is
46:01
how we win this battle. This is how we avoid the war is
46:05
by pushing people, to these Freedom tools.
46:07
So, I saw this yesterday, and I just thought this is, this is
46:11
one of those defining moments that we talk about all the time,
46:13
you know? Like, if you have a big
46:15
following, I said this in the space, I've said this on the
46:18
show. If you have any following it all
46:20
and you consider yourself a freedom Advocate, you know,
46:23
there's a lot of people out there like one person.
46:27
I don't mean to, like, call people out, but like the Wall
46:29
Street Silver, guys, you know, like the whole GameStop crew out
46:32
there. The Robin Hood crew out there
46:35
that basically called The Bluff of Wall Street and they haven't
46:39
found Bitcoin yet. And it's like, guys, if you just
46:42
take Bitcoin in the self custody, we can we can
46:45
fundamentally Mentally win here, all we need is more people
46:48
stacking SATs, all we need is more people taking Bitcoin off
46:51
these exchanges, but if you have a big following you're not
46:53
pushing people towards self custody.
46:56
In my opinion, your suspect and you're part of the problem.
46:58
So if you have any following out there, continued to name, the
47:02
names of the wallets that you like or else, what are you
47:05
doing, I'm going to have to call your, your intentions in
47:09
question because this is how we solve this is, this really just
47:12
about you guys gaining a big following or is it about people?
47:16
People getting on the Bitcoin standard and saving and taking
47:19
Bitcoin in the self custody. This is why we continuously try
47:23
to name the named as much as possible.
47:25
At times it gets hit I'm a broken record but hey what gets
47:29
repeated gets remembered and what gets remember gets
47:32
repeated. So continuously repeat the names
47:34
of the wallets you like and let's get more people on self
47:37
custody and this is how we win. Boom, boom.
47:43
Absolutely. And that, you know, I think you
47:45
covered that great Opti. And I think that one of the
47:48
things that they're going to try to limit first, right?
47:51
Is like there's two social attacks happening, right?
47:54
First everyone kind of sees that one because it's been I think
47:57
the more obvious one which is the Bitcoin mining attack right
48:01
on the energy usage. So that's number one, right?
48:06
I don't think that attacks going to be so successful because the
48:09
Lives are very powerful so and I give the example of China,
48:13
right? So Chinese Communist party Band,
48:17
Bitcoin mining. And within nine months, the hash
48:19
rate overcame, the previous all-time high and that was just
48:24
because of Bitcoins incentives alone.
48:26
Take that Charlie Munger. And number two, eventually is
48:30
going to be the social attack on self custody, which we're
48:34
already kind of seeing this a little bit with the redefinition
48:38
of words that Amun hosted wallet, right?
48:41
You know it's like the normalization, right?
48:43
It's like hosted is normal on hosted is is not normal, right?
48:48
So it's like that vocabulary is introduced on purpose and it's
48:53
introduced for malicious reasons, right?
48:56
It's like, look, we want to normalization the Outsourcing of
49:00
the storage of Bitcoin so that we can capture it.
49:03
We can continue being intermediaries right?
49:05
And if we can capture it we can control it, right?
49:08
It's very hard to control. Troll Society, where Millions
49:11
upon Millions upon millions of individuals are holding their
49:13
own private Keys. Some very, very difficult to do
49:16
that, right? So what are they trying to do?
49:20
They're trying to keep the status quo and Opti was
49:23
absolutely right. Like things won't change, like
49:26
Bitcoin Could Happen. Bitcoin could go to the moon,
49:28
but if we want change, right? If you actually want to
49:33
effectuate, political change, you got to vote and you get to
49:36
vote by taking self custody of your Bitcoin, right?
49:38
It's the most powerful vote, you can make right voting, you know,
49:42
boat like you would do, like, Fiat vote, you know, do your, do
49:45
your vote, right? But the most powerful vote that
49:49
you can make, that will actually effectuate change, right?
49:52
Really change. Things is taking self, custody
49:54
of Bitcoin and then be that Uncle Jim in your family.
49:57
Like you know, if your mom's a little bit, older your dad you
50:00
know, your grandparents whatever and they want to hold Bitcoin.
50:03
Be that person, right? Be that person.
50:08
Anyways, yeah man takes off custody that's how we win this
50:13
thing. Anyways everybody let's get to
50:15
the review, let's do it. The daily meme review brought to
50:21
you by Kaboom racks. I get this question all the
50:24
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50:24
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50:26
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50:50
Okay, all right, you already know this is the mean review.
50:52
This is your favorite time of the show.
50:55
You watch all the news and all the numbers and the culture just
50:58
to get to the meme review where your mean potentially can get
51:01
featured. So Drop Your Meme review, score
51:04
in the chat by the end of this so that we can cover it as we
51:07
say on this show. Tweet all the bullets memes are
51:10
the artillery continue to put your hat in the ring.
51:12
We are in an information War. I mean look at the article by
51:16
Monger, he gets it. It's the mimetic war out here.
51:18
So continue to counter the corporate press Fudd, continued
51:23
to ridicule, your note, coiner friends, and continue to get
51:26
them on the Bitcoin standard. Anyways today is Groundhog's
51:31
Day. So I thought this was a fitting
51:34
fitting mean, by memeing Bitcoin, because breaking
51:36
groundhog sees Bitcoin bull market ahead of us.
51:40
We are in a bull market if you guys saw dr.
51:42
Jeff Ross last night on IRL, you can tell that.
51:46
He has turned from dr. Bear to dr.
51:47
Bull so hey, what's going on out there guys?
51:50
It looks like we might be in the boring,
52:04
but I thought this one. This is a pretty funny screen.
52:07
She grabbed so shouts out the dirt Gigi and he goes, maybe
52:10
algorithmic feeds aren't all bad and we got this tweet right here
52:14
by Sean McNulty. That Mariah and he goes, give me
52:17
your best one-liner to orange pill.
52:18
Somebody that doesn't understand Bitcoin and then my friend
52:21
Heather Everdeen. She just goes fuck you.
52:24
And so maybe the algorithmic feeds aren't all bad.
52:26
This one seems to be working out.
52:30
This next one. Shout out to our friend at Jose
52:33
underscore s underscore bam, and he just goes hashtag Bitcoin and
52:37
it's a fortune cookie and he goes, you should have bought
52:39
Bitcoin under 20K. What are you doing?
52:41
You should have bought big coin under 20 K.
52:44
We are above 20 K right now. Now anyways, just next one is by
52:48
at Future underscore Hado and again, he just goes hashtag
52:50
Bitcoin. And then this is a, we got a few
52:53
goldfishes and we got one goldfish which is the Bitcoin,
52:56
ER, going against the stream and it goes, what if you're right?
52:59
And they're wrong. And we got a bunch of different
53:01
goldfish going going with the flow.
53:04
We got wall, streeters, Jamie dimon, Central Bankers, gold
53:06
Bugs, World, economic Forum. Peter Schiff, can't illionaire
53:09
shit. Corners Chancellor on bring your
53:11
wife, boyfriend Chyna. Kaindi and Warren Buffett.
53:18
I am at Charlie Munger and just the little golden Bitcoin.
53:22
Ur going against the grain and stacking sad, sand, and staying
53:26
humble, and providing value, and saving in Bitcoin.
53:29
It's, it's a beautiful world where a part of anyways.
53:31
This next one is by at that's what he sat.
53:34
Thank you hashtag, Bitcoin Maxis and what he got this.
53:39
I'm not even going to try to name anyone here but we got what
53:43
is this? Like it's a Godzilla mean, but I
53:45
Get what the enemy of Godzilla is here and he goes the enemy
53:48
exhausting. I have an interesting blockchain
53:50
project. He got Bitcoin Maxis as
53:54
Godzilla. Just torching your idea.
53:57
Yeah. If you know, you know, this is
53:59
how the last week was I and this next one, shouts out to our gold
54:02
bug, friend. Jim in the chat.
54:05
Thanks for coming back, bro. It makes me feel seeing that
54:08
we're doing something here that you enjoy to come back to
54:10
whether you like the message or not.
54:12
Anyways, Chef's out to Alloys schmalz all Sorry, bro, I
54:17
definitely budget that and we got, you know, a little little
54:21
worm waking up in the morning. Goes life of a gold by the worm
54:24
wakes up. He's got his nightclub,
54:26
night-night cab, you look cozy and bed he takes a shower, he
54:29
looks in the mirror, he goes getting pumped for the day.
54:33
Then he goes out his hole and it's 8:30 a.m. eastern time.
54:36
And then Bitcoin is the bird that is gonna eat the one.
54:42
Let's go. Okay, then on this, On this
54:46
vein, shout-out to our Boyardee, BTC literally tag me at the very
54:50
beginning of this show and I had to bring this on because it's
54:53
just so fitting. Everyone knows the Simpsons meme
54:56
of the old man yelling at Bitcoin well old man yells at
55:00
Bitcoin hashtag Charlie Munger. And so, we just got the GIF of
55:04
Charlie Munger old man yells that Bitcoin.
55:06
These dinosaurs Continue to yell at Bitcoin.
55:10
It's it's a, it's a beautiful world where a part of man, what
55:14
are we just we just keep winning.
55:17
Hi well, you already know my me review score for today is
55:20
another sticker. I'll change them up.
55:22
I'll change them up next week so I'm not just all stickers
55:24
forever, but I still have a lot of stickers guys.
55:26
So I have this Moon sticker with a rocket ship with the Bitcoin
55:33
logo on it. We are going to Moon.
55:35
We are mooning. Bear Market over confirmed.
55:41
I'm going to give it BTC sessions news Roundup tonight at
55:44
6 p.m. Eastern Standard.
55:57
We plug in plug in represent. We totally are.
56:00
Anyways guys it's chatter sponsor represent LTD.
56:04
I'm wearing the simply Bitcoin Merch.
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This is basically sold out this. They only have large.
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Last time I checked opt he's wearing the decentralised
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decentralized hoodie as well. Only in represent LTD.com.
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It is a Bitcoin company. They make awesome merge.
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They drop the simply Bitcoin merch.
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Last you use promo code simply Dash Bitcoin, get yourself a big
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discount, 10% Represent LTD.com. Anyways, let's get to some of
56:31
the scores first Elaine. Shout out to you Lena Lane says,
56:36
I give those great memes stacking SATs till the cows,
56:39
come home and Bitcoin takes over the pee.
56:42
Man van gives the scores. I give the memes.
56:44
A statist, Bill Riley. I give the memes a handcrafted
56:55
Titan. Casket.
56:57
With Black Gold Line interior and army head panel for old.
57:01
Charlie Munger 1800 man. I feel like I feel like I got
57:05
all them people. I feel like I got a lot of
57:07
people riled up on the Charlie monk.
57:10
Sorry not sorry Kaze ni give the meme review.
57:14
Nico caught in 4k with the gun. Guys, this is a live show, okay?
57:20
I have no shame nihilist. Nilus Fields one score, okay?
57:25
For anyone who doesn't know and are tuning in late.
57:27
Charlie Munger said that buying Bitcoin is the equivalent of
57:31
buying babies or some baby brains.
57:33
It gives something terrible. Yeah, you said something like if
57:36
you could profit off selling baby brains would you do that?
57:39
That's the equivalent of what bitcoiners are doing.
57:41
There you go. So Niles.
57:44
Niles field says one baby brain harsh harvesting be Each one
57:48
baby brain standard and one baby brain, sesh maybe blades
57:54
harvesting sessions. Due date for anyone who's tuning
58:00
in. That was Charlie munger's.
58:01
Words, not mine. He compared.
58:03
I don't know. Dude, that's crazy.
58:05
What that's the first example that dropped into his head.
58:08
Like that is nuts as absolutely nuts.
58:11
Shame on you a vampire confirmed.
58:15
All right guys check out some blue Bitcoin.
58:17
Unfiltered is the written version of the show.
58:18
You got to go to www.simpleandsensational.com
58:23
shake out, our awesome writers, Zack Paul wine and kiss at
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58:29
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58:33
All of it. Check it out.
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Also, check out Simply Bitcoins telegram group products are
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Join it. Now anyways Opti software or web
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site site site. Let's do it.
58:52
Bitcoin soft websites brought to you by Cipher safe.
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I owe. All right guys.
59:23
So today's site this this I'll drop this link in the chat
59:28
because it is a little complicated.
59:29
But we mentioned this, I think it was earlier this week, this
59:33
is a Luke Dash juniors website about the current state of
59:37
Bitcoin node. So we have been getting you guys
59:41
telling us that there is more Bitcoin nodes than the Clark
59:45
Moody dashboard says. So I wanted to plug this site
59:48
because as you can see there's a lot more nodes out there.
59:51
We're close to like 50 thousand nodes according to Luke Dash
59:55
juniors website. So, this website, for those on
59:57
the audio is Luke dot-dash, Junior dot org, slash program /
1:00:02
Bitcoin / file /, sharked /, software, dot HTML, you can
1:00:07
check this out for yourself. Do not trust us verify and will
1:00:11
continuously keep you guys up to date on that as well.
1:00:15
So, you know, make sure you run a node but also, if you like
1:00:19
this show, I want to hear it in audio.
1:00:21
Form. We are on anchor.
1:00:22
We are on Spotify, we are on Apple again.
1:00:25
I'm pretty sure we're on every single podcasting app out there.
1:00:28
But we are a part of the valley for Value economy on Fountain,
1:00:32
you can stream asset, you can give us some comments and shout
1:00:36
out to you guys that are clipping us as well.
1:00:39
I think I have one at least for tomorrow.
1:00:42
Tomorrow is Friday. So I will I will be bringing the
1:00:45
receipts and bringing you guys into the show.
1:00:47
So if you been streaming the sets, I'll get on the show
1:00:51
tomorrow, guys, we appreciate it.
1:00:54
Awesome guys, thank you so much for joining us another episode
1:00:56
of Simply Bitcoin live. Number one thing you could do to
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