Latest / Simply Bitcoin / Saylor Explains What Takes Bitcoin 100x | EP 1057

Transcript

Saylor Explains What Takes Bitcoin 100x | EP 1057 · Simply Bitcoin

• 0:02
  It's. All going to zero against
• 0:04
  Bitcoin. It's going up forever.
• 0:07
  If. You're against Bitcoin.
• 0:16
  You're against freedom. If I owed you, let me try and
• 0:24
  think. If I owed you 20 Taylor Swift
• 0:28
  tickets, so this is could clip this, send this to your family,
• 0:32
  this will be understandable. If I owed you 20 Taylor Swift
• 0:35
  tickets, in theory I have two options.
• 0:38
  I can either pay those back in full by giving you the tickets
• 0:41
  or I could say I can't afford to pay that back and we call that a
• 0:45
  default. Two options when you're in debt,
• 0:47
  pay it back or default. And I say I'm so sorry, I can't
• 0:51
  actually pay that back. Now the government has a third
• 0:53
  option. They can actually devalue and
• 0:56
  debase the thing that they owe by printing money, right?
• 1:00
  So if I could say, well, Taylor Swift tickets at one point were
• 1:03
  like $20,000 a pop. If I can make them $2.00 a pop,
• 1:07
  I can pay you back 20 Taylor Swift tickets no problem.
• 1:09
  I'll just devalue what they're worth.
• 1:11
  And so the US government has a third option, which is printing
• 1:15
  currency, debasing the currency, and that's their only way out.
• 1:20
  So they, the US government cannot default.
• 1:24
  That is not an option, right? And they also can't pay it back.
• 1:28
  Debt to GDP in the US is almost 130%.
• 1:31
  Global debt to GDP is well over 300%.
• 1:34
  So that is the amount of debt they have versus the amount of
• 1:37
  growth they're producing to pay that back.
• 1:39
  Paying it back is not an option. Defaulting is not an option.
• 1:42
  So anyone listening, what's the only thing they can do to value
• 1:47
  the thing they owe? Print money to base the
• 1:49
  currency. What's the scarcest thing in
• 1:52
  human history? What's the best performing asset
• 1:56
  in the last 15 years? What is the best expression of
• 1:59
  currency debasement? What's a put option on the
• 2:01
  existing financial system? What is long volatility?
• 2:03
  How do you monetize this chaos? You buy Bitcoin.
• 2:07
  You buy Bitcoin. That's been my macro thesis from
• 2:09
  day one, and that's my Taylor Swift analogy.
• 2:12
  Bam, clip it. Good morning.
• 2:15
  Welcome to Simply Bitcoin as our new phrase is tomorrow's Bitcoin
• 2:18
  news. Today I'm your host Opti, and we
• 2:21
  got a jam packed show for you. And I really enjoyed this cold
• 2:24
  open today because one of our main things doing here on the
• 2:28
  show is trying to explain to people, the average person out
• 2:31
  there, the problems going on in the world.
• 2:33
  But it's becoming very clear that most people either don't
• 2:36
  care about inflation or don't understand inflation and shouts
• 2:39
  out to Jack Mahler's again, always doing his best at
• 2:43
  explaining Bitcoin, explaining the financial problems that we
• 2:46
  find ourselves in, in very simple terms.
• 2:49
  Of course, he's using this Taylor Swift example, which
• 2:51
  probably catches on with a lot of normies out there, You know,
• 2:54
  shouts out to the people out there that, you know, I, I don't
• 2:58
  want to just talk too much smack about them, but they're asleep
• 3:01
  at the wheel or really just don't care and caught up in all
• 3:03
  of the crazy things going on. But it's becoming very clear
• 3:07
  that the US government has a huge problem.
• 3:11
  Everyone knows probably by now the US is in $35 trillion in
• 3:15
  debt, literally adding a trillion dollars to the debt
• 3:19
  every hundred days. Now, also with that, we have, I
• 3:23
  think, exactly not the correct number, but over $218 trillion
• 3:28
  of unfunded liabilities, which is why Jack Mahler's explained
• 3:31
  to people in very simple terms that there's no possible way for
• 3:34
  them to pay this back. This is why you're feeling pain.
• 3:37
  This is why inflation has become one of the big topics right now.
• 3:41
  There is no possibility of them getting out of this position
• 3:45
  except for basically two or three things like Jack Mollo
• 3:48
  just saying they either default on their debt, which they have
• 3:51
  done, you know, arguably twice in the past, or they just
• 3:54
  continue to print more money or basically just tell you to just
• 3:58
  suck it up. And This is why we Bitcoin, This
• 4:00
  is why all of us as Bitcoiners continue to talk about Bitcoin,
• 4:04
  continue to explain to our friends and family that there's
• 4:07
  only one way out of this. And this is to save in Bitcoin,
• 4:10
  protect yourself in Bitcoin. And this is one of the
• 4:13
  fundamental messages of our show that there is no political
• 4:17
  solution to this. The only solution to this is
• 4:19
  simply Bitcoin. You saving in Bitcoin, you
• 4:22
  protecting your wealth in Bitcoin, taking it into cold
• 4:26
  storage, taking it into custody. This is the only way you're
• 4:29
  going to get out of this. You can't expect someone out
• 4:31
  there to help you get out of this because as we've constantly
• 4:35
  been shown, people in power will abuse your trust, and This is
• 4:39
  why we're in the position we are in today.
• 4:41
  Anyways, enough with the opening ramp.
• 4:44
  As you can tell from the title, we did get a very good clip that
• 4:47
  just dropped on Twitter about Michael Saylor.
• 4:50
  This did happen in Nashville at Bitcoin 2024, but he explains
• 4:54
  the three things that need to happen for Bitcoin to go and his
• 4:58
  word 100 X from here. And the TLDR is we're pretty
• 5:02
  much already there. Like we we've already set this
• 5:05
  in motion. So so it really, in my opinion,
• 5:08
  points to the idea that 2025 leg up in the next bull will
• 5:13
  probably be a magnificent, glorious bull run.
• 5:16
  I know we're all sitting here like man, 58K gang, bro, like
• 5:19
  why, why did you curse us the 58 K?
• 5:22
  We, you know, yesterday everyone's like, oh, we broke
• 5:25
  out of 58 K. We're never going to be back at
• 5:27
  58 K. And yet this morning we're back
• 5:29
  at 58 K. So everyone go blame Dennis on
• 5:33
  Twitter. But it still means one thing.
• 5:36
  Bitcoin is at a, you know, stable price right now.
• 5:39
  So cheap sats before we get this next leg up in the bull run.
• 5:43
  But in the clip, Sailor does say something very, very telling.
• 5:48
  And This is why I do want to cover the rumor mill that we've
• 5:52
  been hearing going around Twitter that apparently the
• 5:55
  Kamala Harris campaign or administration is rumored to tap
• 6:00
  on Gary Gensler to be Secretary Treasury, which would be
• 6:05
  absolutely detrimental to the Bitcoin industry.
• 6:08
  As we've seen he wasn't very happy about releasing a Bitcoin
• 6:11
  ETF. They basically slow rolled this
• 6:13
  as much as possible. So more signals, of course, this
• 6:16
  is rumor, but if it is signal of what's going to happen, it just
• 6:21
  goes to show that the Harris administration will not be
• 6:25
  friendly towards the Bitcoin space.
• 6:27
  Of course, we've been trying to give them the benefit of the
• 6:29
  doubt, but more signal, more, more receipts on.
• 6:33
  This is just a lot of talk. And again, we try not to get
• 6:36
  political. We're bitcoiners here.
• 6:37
  We care about the adoption of Bitcoin.
• 6:39
  We don't think there's a political solution here, but
• 6:41
  it's becoming very telling that one side of this election is
• 6:46
  anti Bitcoin and the other side is senior pro Bitcoin.
• 6:50
  So it's becoming a very clear choice for most Bitcoiners out
• 6:53
  there. And to everyone that's in
• 6:55
  disbelief, the writing's been on the wall.
• 6:58
  We've been covering this for a long time on the show.
• 6:59
  Anyways, I am not alone today. Nico did have a flight that got
• 7:04
  delayed, so I'm handling the duties today.
• 7:07
  But we got a Opti and Obi takeover.
• 7:10
  We got Adam O'Brien on the show, of course, CEO, founder of
• 7:14
  Bitcoin Well, one of our sponsors, one of our partners
• 7:17
  absolutely love when Adam comes on.
• 7:19
  I mean, we've been joking for a while now that we need to do a
• 7:22
  simply Bitcoin Well takeover. This is our show now, you know
• 7:25
  Nico. Yeah, if Nico's watching this,
• 7:29
  like, I mean, he's done. Like, thank you, Nico, for your
• 7:31
  service. It's Opti and Adam day now, and
• 7:34
  we're good to go. Off we go.
• 7:36
  Let's go well, super exciting also also in the culture, of
• 7:40
  course we're going to be talking about Bitcoin.
• 7:41
  Well, but Adam, bro, I just we were talking about it yesterday,
• 7:47
  dude, you are a can I say yes, you're a financial criminal in
• 7:50
  Canada just because you're a. Bitcoiner financial terrorist.
• 7:54
  Financial terrorist. Sorry, sorry, financial.
• 7:57
  Terrorist, incredible, beautiful free country that I live in
• 8:02
  yeah, man, it's wild. I we, I'm happy to dive into
• 8:05
  some of that. It's like when people hear what
• 8:08
  I like my banking situation and what's going on, they if they
• 8:12
  are Bitcoiners, they're like, holy smokes, I understand why
• 8:15
  you're a psychopath and I'm here with you.
• 8:17
  And when they're not Bitcoiners, they're like, oh, obviously
• 8:21
  you're lying and you've done something wrong and the
• 8:24
  government is right and govern me harder, Daddy and Adam,
• 8:27
  you're a bad guy. And it's like, well, you know,
• 8:30
  I'm not and my stay at home wife is not.
• 8:32
  And she's also debanked. So definitely yeah, man.
• 8:35
  Happy to dive into it. Yeah, we're, we're definitely
• 8:37
  going to cover that. And then of course, we're I'm
• 8:39
  going to, I'm going to goad you a little bit and hopefully get
• 8:42
  some leaks on Bitcoin. Well, because I know what's
• 8:44
  happening behind the scenes and, you know, I want to expose the
• 8:47
  audience to it, but I know, I know things are in motion and
• 8:49
  you probably can't talk about some of them.
• 8:51
  But on, on that note about your wife, yeah, can confirm she's a
• 8:55
  sweetheart. Far from a financial terrorist.
• 8:58
  But hey, you know, with your banking system up there in
• 9:01
  Canada, it's a, it looks like everyone's a terrorist now.
• 9:04
  Absolutely incredible. If you don't play by their
• 9:07
  rules, you are terrorist and they have full opportunity and
• 9:11
  will absolutely kick you out. In fact, yeah, it's getting
• 9:15
  crazy. I won't dive into it yet.
• 9:16
  We'll. Talk about the culture We'll
• 9:17
  talk about the culture. Let's let's talk about our our
• 9:20
  leading sponsor here, which is of course Bitcoin Well, the best
• 9:24
  place to buy Bitcoin it's literally self custody by
• 9:27
  default, which means you need to have a Bitcoin wallet and
• 9:30
  Bitcoin well never touches your Bitcoin.
• 9:33
  This is what you have to do. You want to ensure that you hold
• 9:36
  the Bitcoin that there is no possibility of getting rug
• 9:39
  pulled buy real Bitcoin go to bitcoinwell.com.
• 9:42
  You can use a promo code simply BTC and Adam, I am going to put
• 9:46
  you on the spot here, bro a little bit put you on the spot
• 9:48
  on the Bitcoin well rewards because the last couple of days
• 9:52
  it hasn't been working. So James and you guys need to
• 9:55
  figure this out here's. Here's what we got to do.
• 9:58
  First things first. I don't know how many normally
• 10:00
  you guys do, but we should do more today.
• 10:02
  And it's because there's so many freaking people that play this
• 10:06
  game that it just like it crashes.
• 10:10
  And when it crashes, I want you to think about this.
• 10:13
  When it crashes, it's because more than one person is playing
• 10:16
  it at the exact same millisecond.
• 10:19
  In No. Part in my mind, I think there
• 10:23
  would be two people playing this game in the same millisecond,
• 10:26
  not the same second like you can't snap your fingers that
• 10:29
  fast. You can't even snap your fingers
• 10:31
  coordinated that fast. But here we are and so I think
• 10:35
  that we should play until we get like at least more than 500 but.
• 10:39
  OK. All right.
• 10:40
  Well, guys, as you know the deal, get your Lightning wallets
• 10:43
  ready first come, first serve. You get these sats, you got a
• 10:47
  chance to win up to 1,000,000 sats.
• 10:50
  I know, I know. No, I'm like, I was going to
• 10:52
  try, but I know Adam's rigging this to only he wins a million,
• 10:54
  but he's not he's not. I'm just trolling.
• 10:56
  I'm just trolling. I've.
• 10:57
  Won a million sats like 7 times. What are you guys?
• 11:02
  OK, again, of course. Oh, wow.
• 11:04
  There we go. All right, First come, first
• 11:08
  serve, 21,000 sats. I think that's the highest we've
• 11:11
  gotten on the show before and now you know.
• 11:15
  I hope Aaron James in the chat gets it because this guy's got
• 11:18
  like some serious he's he's pretty butt hurt and doesn't
• 11:21
  seem to like me. So I hope Aaron James, I hope
• 11:23
  that you I hope that you get some free stats today, buddy.
• 11:27
  And you know, you should just like just, you know, touch grass
• 11:30
  and and and be well, amigo, be well.
• 11:33
  Everyone give Aaron James a nice shout out in the chat.
• 11:35
  Give him some love. He's having a bad day.
• 11:38
  He thinks my stay at home life that mother's my four beautiful
• 11:41
  children is lazy. He thinks I'm fake.
• 11:44
  Wow, really having. A hard day.
• 11:46
  Wow, OK, OK, I can't I can't follow the chat, but sheesh.
• 11:50
  All right, guys, you guys just won 21,000 Sats love to see it.
• 11:55
  OK, let's get into the show because we do have a lot to talk
• 11:58
  about today. Coin numbers.
• 12:05
  Man, that intro so quickly. Anyways, go to stampse-ed.com.
• 12:09
  Make sure you are stamping your seed into titanium.
• 12:13
  Do not leave your seed phrase on a piece of paper.
• 12:17
  How are you going to explain to your grandchildren they're going
• 12:19
  to be Grandpa Paul Azniko? He says why did you lose our
• 12:22
  generational wealth? And you're going to be like,
• 12:23
  because my dog ate my seed phrase and I wrecked ourselves.
• 12:28
  Make sure you are securing your seed phrase for the long term.
• 12:32
  Put it in something that is indestructible like titanium of
• 12:36
  course, if you go to the site use promo code simply and you
• 12:39
  get 15% off all right guys let's get to the numbers I'm over here
• 12:43
  on Clark Moody's dashboard, of course, the legendary dashboard
• 12:47
  and you know Nico's doing all the numbers, but I'm I'm I'm
• 12:49
  just stealing my numbers to basically the only numbers
• 12:52
  anyone cares about for for better or worse.
• 12:54
  These are the only numbers I think you guys care about or
• 12:57
  rather the average you know Bitcoin enjoyer that isn't a
• 13:01
  hardened maximalist is probably just like I I just don't really
• 13:04
  care about all these numbers. They probably don't even know
• 13:06
  what most of these numbers are anyways the Bitcoin price shouts
• 13:09
  at the dentist and 58K gang is currently at $58,980 which means
• 13:14
  the SAT's per dollar which means how much Bitcoin you can buy for
• 13:17
  a single dollar or the price of a dollar in Bitcoin is 1695
• 13:23
  SAT's or for the bits Maxis I have I haven't stirred the pump
• 13:27
  Maxis 169 bits and the block high I I would argue the most
• 13:33
  important number in Bitcoin TikTok next block Bitcoin works
• 13:36
  exactly as designed. Yes the Bitcoin price fluctuates
• 13:39
  but there is a new block roughly every 10 minutes and we are
• 13:42
  currently at 857,647. The market cap in Fiat terms, in
• 13:49
  dollar terms is $1.16 trillion and the Bitcoin risk gold market
• 13:53
  cap is only at 6.71% of the gold market cap, which means there's
• 13:58
  still a lot of room to run in the hard money gang.
• 14:03
  All right, as I was telling you, there is rumor mills going
• 14:06
  around right now. And the reason I wanted to cover
• 14:08
  this in the numbers because it really Tees up what we're going
• 14:10
  to talk about with Sailor in the news.
• 14:13
  And so there's been long, long hinted rumors that a lot of the
• 14:17
  things that Gary Gensler has been doing is to position
• 14:21
  himself as becoming the next Treasury Secretary of the United
• 14:25
  States. Obviously, you remember what
• 14:27
  Trump said at Bitcoin Nashville, where he did the like, I'm going
• 14:31
  to fire Gary Ginsler. And everyone's like, yeah.
• 14:34
  And he's like, whoa, wait, you guys love that.
• 14:35
  Like, OK, well, I'll say it again.
• 14:37
  I'm going to fire Gary Ginsler. And I was like, yeah, So you're
• 14:41
  seeing at least the rumors going around and we will kind of dive
• 14:44
  into the rumors a little bit. But potentially, or at least
• 14:48
  this was going around. This is from Washington
• 14:50
  Reporter, which technically is like a center right platform.
• 14:55
  So we will dive into what that might mean.
• 14:58
  But apparently scoop Kamala Harris likely to nominate Gary
• 15:01
  Gensler as Treasury Secretary if elected, says Senate sources.
• 15:06
  So here, let's dive in a little bit.
• 15:08
  And then I really want to read the Block article because I
• 15:10
  think it adds a little more salt to our rather the texture to
• 15:13
  what we're talking about. While publicly the SEC Chairman
• 15:16
  Gary Gensler hasn't expressed desire to leave his current
• 15:19
  role, multiple senior Senate staffers are telling the
• 15:21
  Washington Reporter that if Vice President Kamala Harris wins in
• 15:24
  November, she plans to nominate Gensler as her Treasury
• 15:28
  Secretary. Those rumors corroborated what
• 15:30
  top Republicans have also told The Republic.
• 15:33
  The Reporter on the record and in a report with interview with
• 15:37
  Reporter Representative Tom Emmer previously warned that
• 15:40
  Harris may pick Gensler or Senate Elizabeth Warren, which
• 15:44
  we all know Warren stance on Bitcoin.
• 15:46
  She's leading the anti crypto army, which of course, if these
• 15:51
  rumors are true, would be detrimental to the Bitcoin
• 15:54
  industry in the United States to serve as a Treasury Secretary.
• 15:58
  And like he says, you know, such a move would be a disaster for
• 16:01
  the economy. Gensler, Emmer said, has been
• 16:04
  bringing lawsuits all over the place and losing all over the
• 16:07
  place that times past. Gigi needs to move on.
• 16:10
  His career in government should be over.
• 16:14
  Okay, let's go into the block article and their coverage of
• 16:17
  this. So most of this is basically the
• 16:20
  same the same coverage as the report, but there is, you know,
• 16:25
  some speculation on whether this is just rumors or whether this
• 16:29
  is coming from the Republican camp to basically garner more of
• 16:33
  the pro crypto voter base. And so I think it's very, very
• 16:38
  interesting. On the one hand, it does make
• 16:41
  the Harris Walls administration not be very favorable for us
• 16:46
  Bitcoiners and of course they're buying for roughly around 50
• 16:49
  million voters in the USAAKA. The amount of people in the US
• 16:54
  holding Bitcoin, whether that Bitcoin in crypto, it's a huge
• 16:57
  voter block. So there is some skepticism on
• 17:00
  whether this report is real. Of course there is Caitlin Long
• 17:05
  who says that this I'm skeptical of this.
• 17:08
  It could have this the rumor could have started and he was
• 17:12
  considered for the cabinet position to mess with all of us.
• 17:15
  But again, also Bloomberg Intelligence Eric Balkanis.
• 17:19
  I think this one might be the most telling said that I could
• 17:22
  totally see this is made-up rumor if you are Republican and
• 17:24
  you wanted to help shore up the crypto vote.
• 17:26
  Hard to think of anything more powerful than giving people the
• 17:29
  visual of Gensler having even more power if even if it's not
• 17:33
  true, it's potent. So do we know?
• 17:36
  No, this is just a rumor mill, but I think it's very
• 17:39
  interesting to cover considering what we're going to cover with
• 17:42
  Saylor in the news that it's it's it's you know, I I hate to
• 17:46
  do. There's no coincidence meme on
• 17:47
  you guys, but it is very telling that this news comes out at this
• 17:51
  time, considering that there is a very pro Bitcoin or pro crypto
• 17:55
  stance coming from the Republican Party.
• 17:57
  And as much as there's been a push for a what Crypto for
• 18:02
  Harris campaign, excuse me, and a lot of Democrats talking about
• 18:07
  like, look, we don't want to hamper the Bitcoin industry.
• 18:10
  It has seemed like a lot of talk.
• 18:12
  There's been a lot of things that we've covered on the show,
• 18:14
  which makes us very skeptical of anything coming out of the
• 18:17
  Democrat Party in regards to Bitcoin.
• 18:20
  And if this is true, of course, this would be another, another
• 18:23
  very, very bad take from the Democrat Party in regards to
• 18:28
  their view on Bitcoin and crypto at large.
• 18:31
  Obviously we're Bitcoiners, but the fact if this is true, that
• 18:35
  would this would be horrible for us in the United States.
• 18:39
  There is been rumors for a long time that Gary Gensler has been
• 18:42
  vying for that position. Nothing publicly has came out,
• 18:46
  but I think it's very interesting to see this rumors
• 18:48
  and and like Eric Volcano said, you know, Bloomberg
• 18:51
  Intelligence, if this is a play of just stirring up stuff, it is
• 18:56
  it is a pretty potent move here because all of us bitcoiners are
• 19:00
  like, yo, Gary has not been good to the Bitcoin industry.
• 19:04
  He begrudgingly released the ETF.
• 19:06
  He slow walked this whole movement.
• 19:08
  And we also know he you know, he he applied to work at Coindesk.
• 19:12
  He did an MIT class on Bitcoin and blockchain.
• 19:15
  Like he should know better than this.
• 19:17
  And it's very telling, at least for us bitcoiners is like, OK,
• 19:20
  who who are you playing cover for Gigi?
• 19:23
  Like who is really pulling the strings right now?
• 19:26
  Because if he understand Bitcoin, like his class, you
• 19:29
  know, would seemingly represent, he's not doing what's best for
• 19:33
  Bitcoin or even the people he's supposed to be protecting.
• 19:36
  Like he's not protecting investors.
• 19:38
  He's he's actively, I would argue hurting investors.
• 19:42
  But hey, you know, I'm biased. I'm a bitcoiner.
• 19:44
  Anyways, Adam, what is your thoughts on this rumor mill?
• 19:48
  Dude, we're seeing in real time this duopoly government
• 19:51
  democracy system in the US play out horribly.
• 19:55
  We're seeing Gary take a massive bet throughout his career and
• 19:59
  then now into like what is probably the late stages of his
• 20:02
  career. We're seeing him gamble and bet
• 20:04
  this legacy on the fact that more control, fewer people
• 20:09
  controlling more people will be better for him politically.
• 20:13
  And we've seen this throughout his time in with in the SEC.
• 20:19
  We're seeing him on this crypto brigade.
• 20:22
  And making it very, very hard for for Bitcoiners to do
• 20:25
  Bitcoiner things. And I think it's just political
• 20:29
  posturing. And this is the result of the
• 20:30
  duopoly that we have. Even the rumor mill, even if
• 20:33
  this is made-up, which I think it's quite likely that it is, it
• 20:38
  sucks that we as the citizens are in the dark about a country
• 20:43
  that we are supposedly voting and supposed to be like,
• 20:46
  informed upon. It's crazy to me that we have
• 20:49
  this guise of freedom, this guise of power in our
• 20:53
  democratic, constitutional society.
• 20:55
  That just isn't true because there are rumors like this that
• 20:58
  no one's confirming or denying and we have two sides of the
• 21:02
  aisle only imagine, like, think about what happens in the world
• 21:06
  when there are only two choices for anything.
• 21:09
  If there were only two car manufacturers, cars would be
• 21:12
  like 50 times more expensive and like 80% worse if there were
• 21:16
  only two phone manufacturers. Same thing for phones.
• 21:19
  You know, we see what happens in Big Pharma.
• 21:21
  We see what happens in Big Food when we have duopolies.
• 21:24
  Things get worse for the people. Garry's playing the duopoly to
• 21:29
  his favour, obviously. It's like immoral.
• 21:32
  Opti and I were chatting before the show about like the the
• 21:36
  recent scamming a scammer video that came out and talking about
• 21:40
  how the world is like just moral less and how it is right now in
• 21:45
  this Fiat world. It is more high time preference
• 21:49
  fruitful to be scamming people and Gary's embodying that and I
• 21:54
  think that at the end of the day ultimately will be the citizens
• 21:57
  that suffer. I like what you said though.
• 22:01
  Bitcoin is a political it actually doesn't really matter
• 22:04
  which side of the aisle gets voted in, which color, what the
• 22:08
  color of the tie is in November. At the end of the day, all that
• 22:13
  it means is you will have to pick up your stack and go
• 22:16
  somewhere else. That's going to happen
• 22:18
  eventually, either to you or your grandkids or your great
• 22:21
  grandkids. Somewhere down your bloodline,
• 22:23
  your country will become inhabitable.
• 22:26
  All you can do is work hard, stack stacks and stay humble.
• 22:30
  And I think that if we keep that in mind, we can take a breath,
• 22:33
  You know, the few months leading up to November are going to be
• 22:36
  more like entertainment news then like, holy smokes, my world
• 22:41
  is going to hell. And I don't know what to do.
• 22:43
  And I think that that's an in lifting, you know optimistic
• 22:47
  type of type of look to habit it.
• 22:50
  Well, it is an election year here in the US and I, I did
• 22:54
  wait, did you say the. US or the whole world?
• 22:56
  Because it's kind of the same thing.
• 22:58
  Yeah. What other countries are there?
• 23:01
  I'm glad, I'm glad that you, as a Canadian, finally agree with
• 23:04
  me that only the US matters. But you know, I'm trolling here.
• 23:07
  I'm trolling here. But no, I I did watch the DNC
• 23:12
  platform last night and as you can tell it is an election year
• 23:16
  and there is a lot of fear mongering.
• 23:18
  And so I think it's very important to kind of double down
• 23:20
  on what you just said, which is like, once you understand
• 23:23
  Bitcoin, once you find that Bitcoin Zen, like you don't have
• 23:27
  to worry about the fear mongering.
• 23:28
  You're like, look, I'm protecting myself.
• 23:31
  All I need to do is work hard saving Bitcoin and, and things
• 23:34
  will work out. Obviously life is volatile.
• 23:37
  We don't know what's going to happen in the future.
• 23:39
  We can't predict what's going to happen.
• 23:40
  But what you can do is take action today, which is obviously
• 23:44
  saving Bitcoin, take it into custody, make sure you're
• 23:46
  secure, make sure you're fit mentally, you know, unplug here
• 23:49
  and there. They're like, these are the most
• 23:51
  important things to be doing exactly touch grass.
• 23:53
  These are the most important things to be doing.
• 23:55
  Anyway, before we get into the news, guys, there's about 1000
• 23:58
  of you guys watching like subscribe, share this video.
• 24:01
  It really helps us in the algos. We got a whole packed show for
• 24:05
  you guys. So let's get into the news for
• 24:07
  today, the Daily News. I want to give a shout out to
• 24:14
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  on an exchange. You know there there there's
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  trade-offs here, but definitely get yourself a passport by
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  foundation use a promo code simply all right guys, So as I
• 25:26
  was telling you, we got this clip coming out from sailor.
• 25:29
  It looks like a fireside chat. This wasn't on the mainstage.
• 25:34
  This looks like it might have been some kind of off.
• 25:36
  That was this one. This was backstage, yeah.
• 25:38
  It was a backstage 1. Yeah, yeah, him and and RFK went
• 25:42
  backstage too, which was super sick.
• 25:43
  Yeah, so we finally got this on Twitter, which was, you know, a
• 25:47
  backstage fireside chat with Sailor.
• 25:49
  It finally hit the the Twitterverse and we've been
• 25:52
  covering this for a while about what needs to happen for Bitcoin
• 25:56
  to really be unleashed for, for Bitcoin to really mature and be
• 26:00
  looked at as a, you know, quote, UN quote legitimate asset in the
• 26:03
  eyes of everyone on planet Earth.
• 26:06
  And so first of all, guys, I did clip this because it's a six,
• 26:10
  you know, almost 7 minute clip. So I, I shortened it, I
• 26:13
  truncated it. But if you want the whole clip,
• 26:15
  go to our Twitter account. Of course, simply Bitcoin TV.
• 26:18
  It I did, you know, I, I had to clip it and I had to speed it up
• 26:22
  to 1.25. So, you know it, it's not too
• 26:26
  fast, but you'll get the, you'll get the, you'll get most of the
• 26:29
  message. But there is some stuff and some
• 26:31
  signal in this that that I did have to drop out just in, in,
• 26:35
  you know, got. That that Gen.
• 26:37
  Z brain that can't handle the. No, no, it, it, it's, it's
• 26:41
  really more for the show and I think it's for like copyright
• 26:43
  things on YouTube. You know, there's, there's
• 26:45
  there's parameters we're working in here.
• 26:47
  So I got the bulk of this, but let's just touch on this and
• 26:49
  then we'll kind of cover some other news that's happening.
• 26:54
  I take that coin out by 100 X from where it is today.
• 26:58
  The first thing is to legitimize and accept and endorse it as an
• 27:03
  institutional grade asset. So, so fair regulation of the
• 27:08
  asset itself in the securities industry.
• 27:10
  And in January we got the first installment of that with the
• 27:14
  approval of the Spot Bitcoin ETF.
• 27:16
  But it was an incomplete, an incomplete regulation because
• 27:21
  the SEC still denies in kind creation of ETF shares and the
• 27:27
  the SEC still denies the ability to trade options on top of spot
• 27:32
  Bitcoin ETF shares. And the acceptance was given
• 27:36
  grudgingly, you know, out, you know, it was basically, I did it
• 27:39
  because I had to do it, but I didn't like it.
• 27:41
  OK, so, so what's the significance of that?
• 27:45
  The negative opinion expressed when it when the approval came
• 27:49
  that sits as a shadow over a lot of mainstream investors.
• 27:52
  We need to flip from a negative opinion to at least a neutral
• 27:55
  opinion. Like why?
• 27:56
  Why is it that a federal regulator isn't expressing an
• 27:59
  opinion that this asset is good or bad versus that asset?
• 28:02
  So, so I think that that's got to change.
• 28:04
  Still, the 2nd plank is fair accounting.
• 28:07
  If I wanted to keep you from buying anything, I would
• 28:11
  establish an accounting rule that said you can only lose
• 28:14
  money on the trade, but you can never make money.
• 28:17
  And, and that's a one way ratchet.
• 28:18
  If I actually set up an accounting system where you, you
• 28:20
  always lose, you never win. And if you win, you have to act
• 28:23
  like you lost. And then if you lose again, you
• 28:26
  can win 99 times, but the 100th time you lose, you report one
• 28:29
  loss, no wins. OK, That's just prejudicial and
• 28:32
  hostile. OK.
• 28:33
  So indefinite intangible accounting allows you to lose
• 28:37
  but not win. And it's the kind of accounting
• 28:39
  you give to things you don't want people to buy.
• 28:42
  And so fair accounting was critical.
• 28:44
  And this January, it became optional.
• 28:48
  And next January, it will be mandatory.
• 28:51
  And so that's the that's a big step forward.
• 28:54
  And then the third, the third is we if, if individuals aren't
• 29:00
  allowed to self custody, that's hostile to Bitcoin.
• 29:03
  If I passed the law saying you can't custody, that's that's an
• 29:06
  attack on Bitcoin. If companies can't self custody,
• 29:10
  that's an attack on Bitcoin. If if I had a company whose job
• 29:14
  was to provide to sell custody services to institutions, if I
• 29:17
  provided custody to Yale Endowment or to a big hedge
• 29:20
  fund, and then if the government had a law that made it illegal
• 29:23
  for the custodian to provide custody for your asset, that's
• 29:27
  hostile. So right now, Saab 121 is a rule
• 29:31
  that basically makes it impossible for a bank to custody
• 29:34
  Bitcoin. And the right way to look at it
• 29:36
  is, well, that's basically a regulation preventing companies
• 29:39
  that went to custody from custody.
• 29:42
  And so the result of that is you have basically the government
• 29:45
  saying, I guess you can buy the ETF, but the ETF is not allowed
• 29:49
  to use their bank to custody the Bitcoin and they can only use a
• 29:52
  crypto exchange to custody the Bitcoin and we're going to sue
• 29:55
  the crypto exchange. And so when you have the
• 29:58
  government hostile to the crypto custodian, hostile to the banks,
• 30:00
  hostile to the institutional custodian, you're kind of you're
• 30:04
  undermining the ETF industry and you're undermining the asset.
• 30:08
  So the Third Point is we just need for the SEC, the OCC, the
• 30:14
  FDIC to allow banks like JP Morgan and Citigroup and
• 30:18
  Goldman. But by the way, you might like
• 30:19
  not like JP Morgan because of what the CEO has said.
• 30:22
  But let me guarantee you that within a year or two years of
• 30:25
  when it's possible to custody Bitcoin, JP Morgan will start a
• 30:29
  process to do that. And within four years, they'll
• 30:31
  be custodying Bitcoin because it's money and that's what they
• 30:34
  do. Love it, love it.
• 30:37
  All right, so just kind of recapping some of this stuff,
• 30:40
  guys, as we know, you know, the Bitcoin ETF approval was a big
• 30:44
  deal for Bitcoin, even though it seems like the price has just
• 30:48
  been going sideways and everyone that's watching the Bitcoin
• 30:51
  price is like, why are we crabbing?
• 30:52
  You know, shouldn't we be at 100K or a million Bitcoin right
• 30:55
  now? Well, again, as I've been saying
• 30:58
  for a while on the show, once you understand even some just
• 31:01
  basic mechanisms of how the traditional financial world
• 31:04
  works, they don't, they don't move as quickly and
• 31:07
  legitimization comes slowly in regards to what everyone's
• 31:11
  talking about at these institutional asset manager
• 31:14
  offices. But we're getting to that point
• 31:16
  now as we've been covering, there's been pension funds,
• 31:18
  there's central banks around the world, there's corporations that
• 31:22
  are taking Bitcoin into custody or rather adding Bitcoin to the
• 31:25
  balance sheet or rather just the ETF.
• 31:27
  There's retail. I would not argue we're at
• 31:30
  retail FOMO yet, but there's more interest in retail.
• 31:34
  The corporate press is talking about Bitcoin.
• 31:36
  You're seeing that there is a perfect storm building up right
• 31:39
  now in regards to quote UN quote legitimizing Bitcoin.
• 31:43
  So as the first point was, you know, we're probably, as Sailor
• 31:47
  said, if you watch the whole clip, like at 75% of the
• 31:50
  legitimization of Bitcoin as an institutional asset.
• 31:53
  The second point is he's talking about the Fazbee ruling, which
• 31:56
  change at the very end of last year and was optional as Sailor
• 32:01
  was saying in the January of this year.
• 32:03
  It's going to be the de facto rules going into January of next
• 32:07
  year, which basically means there's going to be floodgates
• 32:09
  opening up into Bitcoin. And then once, as Taylor was
• 32:12
  saying, once we get basically these corporations of claiming
• 32:18
  mega $1,000,000 bullish positive results on their balance sheet,
• 32:23
  that signal is going to permeate and more people are going to
• 32:26
  wake up to this. And of course, as we've been
• 32:28
  covering on the show all of last year, or rather the end of last
• 32:32
  year and the beginning of this year, basically all of this
• 32:34
  year, we've been covering these constant attacks from the Biden
• 32:37
  administration on Bitcoin. We've been covering Elizabeth
• 32:40
  Warren's anti crypto army rhetoric.
• 32:42
  Basically, remember what they were talking about taking your
• 32:45
  Bitcoin into custody, you know, self hosted wallets and how
• 32:47
  they're trying to demonize the whole industry and how they're
• 32:50
  saying, oh, this is so bad and we can't allow this because of
• 32:53
  my financial terrorism and you know, my money laundering and
• 32:56
  all this stuff. Well, that has stopped these
• 32:58
  corporations from adding Bitcoin to the balance sheet.
• 33:01
  If you understand any of the mechanisms that Sailor had to do
• 33:04
  for micro strategy to add Bitcoin on its balance sheet.
• 33:07
  They had to go through so many obstacles, so many hoops to just
• 33:10
  make it happen that most companies don't have the time to
• 33:13
  do that unless they are, you know, a full blown Bitcoin maxi
• 33:17
  like Sailor. Well, now we're having
• 33:19
  basically, except for the last one, all of these things are
• 33:22
  playing out into a perfect storm, hence why I really wanted
• 33:25
  to cover that rumor of Gary Gensler potentially at least
• 33:28
  being rumored to be the Treasury Secretary in the Harris
• 33:32
  administration. If this plays out, then that
• 33:36
  last Third Point is going to be an even more uphill battle.
• 33:40
  If Trump gets in the office and actually follows through on what
• 33:43
  he says and fires Gary Gensler, hopefully he's not going to, you
• 33:47
  know, add him for Treasury Secretary, which means that we
• 33:50
  potentially should have very, very favorable industry for
• 33:55
  Bitcoin in the US, which is a very bullish thing.
• 33:58
  Either way, you can take the the Harris administration is more of
• 34:02
  an acceleration. If you hear like either way, the
• 34:05
  politicians doesn't matter. Bitcoin will succeed, but we
• 34:09
  might have an acceleration camp of four more years with Harris
• 34:12
  or we might get some favorable cover with Trump as or the
• 34:16
  Republican Party getting power in the US.
• 34:19
  But all of these things are playing out in real time.
• 34:22
  And these three things, as Taylor was saying, are going to
• 34:24
  take us to 100K Bitcoin, or rather sorry, 100 X jump from
• 34:29
  here to what's that, 5.8 million Bitcoin or something.
• 34:34
  I don't .8 million, yeah. Exactly.
• 34:36
  We we, we don't have a time frame on this.
• 34:39
  But as we know, as the memes go, it's going up forever.
• 34:43
  Laura, 21 million Bitcoin hard cap money with, you know,
• 34:47
  everything divided by 21 million.
• 34:50
  There's only one way that Bitcoin can go.
• 34:52
  As we all say all the time. It's either going to 0 or it's
• 34:55
  going into the millions. Do we know when that's going to
• 34:57
  happen? Is it going to be 4 years from
• 34:59
  now? Most likely not.
• 35:00
  But like, if you're young like us, you got enough time to just
• 35:03
  stack as much Bitcoin as possible.
• 35:06
  It's going up for a long, long time.
• 35:09
  Anyways, Adam, jump in here. What?
• 35:10
  What's your thoughts on this? Matters not to Bitcoin, only
• 35:14
  matters to the USAI. Don't think that I can emphasize
• 35:19
  enough that the reason Bitcoin is not 100 X yet is just because
• 35:23
  it's not like the stock to flow hasn't hasn't said it.
• 35:26
  To be, well, maxi. I'm not stuck to flow Maxi, but
• 35:31
  I do think that Bitcoin will do what Bitcoin does regardless of
• 35:34
  political policy or inflows or whatever.
• 35:37
  It's all about the base supply and demand economics of Bitcoin.
• 35:42
  The demand has increased whilst the supply is decreasing.
• 35:45
  When we're talking about like, what is Bitcoin?
• 35:47
  The, the, what is it the eighth most valuable asset in the world
• 35:52
  at this point when we're talking about an asset of that size,
• 35:55
  like frankly, and this is going to be shocking for Opti and all
• 35:59
  the Americans in the chat, your country doing ETFs doesn't
• 36:03
  matter that much. Facts.
• 36:07
  We've got, you know, Metaplanet adding a bunch of stuff in
• 36:10
  Japan. Like no one's wondering in
• 36:12
  Japan. Like, whoa, what's going on?
• 36:14
  We have one public company pumping their bags full of
• 36:16
  Bitcoin. Why isn't Bitcoin mooning?
• 36:18
  It's like, yeah, because your company doesn't matter that
• 36:21
  much, because your government doesn't matter that much.
• 36:23
  Because, you know, a couple of like we got what what is it?
• 36:25
  Bitcoin treasuries.net or whatever that website is.
• 36:27
  There's like a couple 100 companies that own Bitcoin.
• 36:30
  That doesn't matter. Think about the big scheme.
• 36:32
  Think about how big and giant the world is, how massive the
• 36:37
  world economy is, how massive world assets are and world
• 36:42
  markets are. And you realize just how small
• 36:45
  these like micro decisions, while they're massive inside of
• 36:49
  our Bitcoin echo chamber and inside of the Bitcoin bubble
• 36:53
  that exists like on this little tiny continent here.
• 36:57
  Let's like zoom out a bit guys and understand that Bitcoin is
• 36:59
  going to do whatever Bitcoin does because it's Bitcoin and
• 37:03
  it's rules, but no rulers. And when we try to install
• 37:06
  rulers, you know, whether it be Sailor or whether it be Gary or
• 37:09
  whether it be Kamala or Trump or RFK or politicians or, you know,
• 37:14
  any other person, rulers don't matter.
• 37:17
  Bitcoin doesn't care about your ruler and it only cares about
• 37:21
  the rules. And the rules dictate that
• 37:22
  Bitcoin is going to increase at a gradual basis from here until
• 37:27
  the end of time. As long as human beings produce
• 37:29
  value and as long as that value needs to be stored and locked in
• 37:32
  a protocol, Bitcoin will increase in purchasing power.
• 37:36
  And I hope, I hope we get to a point where Bitcoin doesn't
• 37:40
  increase in purchasing power because it'll mean the guise of
• 37:42
  inflation will mean the lies and the theft of inflation have
• 37:45
  disappeared and the world is just acting in a symbiotic
• 37:49
  healthy relationship with its people.
• 37:51
  And I think that that's like the most beautiful outlook we can we
• 37:55
  can search for hundreds of years from now.
• 37:57
  In the meantime, Bitcoin going up means pain and suffering to
• 38:02
  all of the normies, all of the people that don't have any
• 38:04
  stacks yet. Let's put our efforts instead of
• 38:06
  whining about 58 K, put our efforts towards, you know,
• 38:10
  getting people off 0 getting them stats in self custody,
• 38:14
  because I agree with Saylor, You know, attacking self custody is
• 38:17
  an attack on Bitcoin. It's an attack on freedom, but
• 38:19
  it's an attack on the people. I think I saw in the chat
• 38:21
  someone said it's a it's a declaration of war on the
• 38:24
  people. Like in what world does it make
• 38:26
  sense to say you can own an asset but you can't hold the
• 38:31
  asset? Like this is like this is
• 38:32
  slavery type of mantra. And we have to work hard to make
• 38:37
  sure that people understand how to self custody.
• 38:39
  Like I run a self custody business.
• 38:41
  It's hard. Lots of people do not understand
• 38:44
  the benefits of self custody yet we got a lot of work to do.
• 38:47
  This is why I don't like the acceleration is camp because
• 38:49
  it's like we have so much work to do.
• 38:52
  Walk outside, go to your barista and ask her, Hey, have you
• 38:56
  secured your seed phrase properly?
• 39:00
  And she'll look at you like what I own some ETH in in a coin base
• 39:04
  account. It's like we got a long way to
• 39:06
  go before we got a globe and A and a lot of people across the
• 39:10
  entire world buying Bitcoin. Only when that happens will
• 39:14
  Bitcoin like functionally and and properly moon.
• 39:19
  So I think that yeah, as far as I'm concerned, I love 58K gang,
• 39:25
  the chap stack, cheap sats AT58K gang and knowing that hopefully
• 39:31
  my grandchildren benefit from 58,000,000 gang or 5.8 million
• 39:35
  gang or whatever it is. But like guys, I also remember
• 39:38
  $58 gang and I remember like 580 gang.
• 39:41
  I'm like dude, Bitcoin sat at 273 Canadian dollars for months.
• 39:45
  273, not 272 and not 274. It was $273 for months.
• 39:52
  And I had this same thought. It was like the meme, right?
• 39:54
  Like poke it, do something like what are you doing?
• 39:57
  Be volatile, be fun, be exciting.
• 39:59
  Like dopamine, please. I need some dopamine from green
• 40:02
  charts. It's like when you remove that
• 40:04
  from your Bitcoin strategy and it's just like, stack what you
• 40:07
  can spend less than you stack. The charts don't matter so much,
• 40:12
  you know, and you get to breathe a little bit easier. 100% I
• 40:15
  mean, boring in Bitcoin is good like as much as we do talk about
• 40:19
  like, oh man, why isn't the price dude?
• 40:21
  You know, we all want the dopamine, but as we say all the
• 40:24
  time, you know, Bitcoin is the stable coin and it's at once it
• 40:27
  goes sideways. You know, one day it will
• 40:30
  probably get to this point. Obviously it won't be at 58 K as
• 40:32
  far as we're concerned, but at a certain point, there will be a
• 40:35
  time where Bitcoin only really increases by what total world
• 40:39
  GDP of our output of the world and it'll pretty much be stable
• 40:42
  at that point. And This is why we are super
• 40:45
  early. And then I really want to circle
• 40:47
  back a little bit because there, there is something that I wanted
• 40:50
  to say and I'm, I might have, I'm blanking if I said it or
• 40:53
  not. I'm going to say it now.
• 40:53
  Anyways, in the, in the very beginning when I played that
• 40:57
  Jack Mahler's clip and he was kind of talking about inflation
• 41:00
  for, you know, in terms of Taylor Swift tickets, like it's,
• 41:04
  it's becoming very clear. I, I definitely did say, but I'm
• 41:07
  going to reiterate, it's becoming very clear, at least to
• 41:09
  the average population, that they either don't care about
• 41:12
  inflation or they don't understand, understand that
• 41:15
  inflation is happening. And it really goes to what you
• 41:17
  were saying as well in regards to Bitcoin that like most people
• 41:21
  still have no idea what Bitcoin is.
• 41:23
  They don't know the best practices of Bitcoin.
• 41:25
  And so as much as we can kind of Joe control about like, you
• 41:28
  know, everything's good for Bitcoin.
• 41:30
  It's like accelerate, accelerate, accelerate.
• 41:34
  The network isn't really there. We aren't there to scale to 8
• 41:38
  billion people yet. We do need a slow, slow adoption
• 41:42
  rate here or else things could get very ugly for a lot of
• 41:45
  people and we're trying to avoid that by as much.
• 41:49
  You know, casualties as possible.
• 41:51
  I think that it's like a good nod to how successful Bitcoin is
• 41:55
  and how it will continue to be. The fact that a very small
• 41:58
  minority of people actually know how to use Bitcoin and it's got
• 42:02
  a $1.16 trillion market cap is insane to me.
• 42:08
  You think about like all people in the world know how to hold
• 42:13
  gold and they know how to like have gold in the hand.
• 42:16
  Probably like I'd say 50% of those people could authenticate
• 42:20
  gold. And then like, you know, it's
• 42:22
  got its market cap. Think about how far Bitcoin will
• 42:26
  continue to go once more and more and more people are
• 42:30
  educated understand what Bitcoin is.
• 42:32
  I'm so bullish on future generations, but like this
• 42:35
  generation that we are currently in the meet space of 2024.
• 42:39
  We got to understand this is not our party.
• 42:42
  We're like we're the party planners right now and we got to
• 42:45
  plan properly. We got to make good Bitcoin
• 42:48
  based businesses. We got to help the Bitcoin
• 42:50
  protocol. We got to contribute to Bitcoin
• 42:53
  meetups and education. This is a call on society to do
• 42:57
  more for the future generation, lower that time preference,
• 43:00
  future generation style. Become the party planning.
• 43:03
  What is what is the office mean? The the party planning committee
• 43:06
  or the OR the committee to plan parties.
• 43:08
  Just pick a camp and do it, understanding that like you
• 43:12
  know, the Lambos aren't for you. You're going to get citadels for
• 43:14
  your grandkids. Let's go.
• 43:17
  Hold on. Thank you.
• 43:22
  Well, on that note, because this is what we, we, you know, there,
• 43:25
  there is something to Bitcoin that it does.
• 43:28
  I don't know if it really just like rewires your brain, but you
• 43:31
  start to think more like an entrepreneur and you run your
• 43:33
  life more like an entrepreneur. And one of our favorite things
• 43:36
  to do is of course, bring on dope Bitcoin entrepreneurs like
• 43:39
  Adam. Of course, we only partner with
• 43:41
  dope Bitcoin entrepreneurs to make sure that we push the
• 43:45
  Bitcoin ethos as much as possible.
• 43:47
  So we're going to talk about Bitcoin well with Adam, but
• 43:49
  really we're going to get into some some very interesting
• 43:52
  stories of Adam and being a financial terrorist in Canada.
• 43:56
  Look at this guy. Look at this sweet smile and and
• 43:58
  he's a criminal over here, rather terrorist, a terrorist at
• 44:01
  this point. But let's get in the culture.
• 44:03
  We got a a really good story for you guys, the daily culture.
• 44:16
  All right, boys and girls, girls and boys, but mainly boys.
• 44:21
  Make sure you stack friends who stack sets guys, as as Adam just
• 44:25
  so eloquently explained to us, you know, it's very important
• 44:29
  for you to take your relationships into meat space.
• 44:32
  The most rewarding thing I have done in my life personally is
• 44:36
  make sure that I am building a local community of Bitcoiners
• 44:39
  that I'm basically almost only interacting with Bitcoiners
• 44:42
  because if Bitcoin becomes or rather when Bitcoin becomes what
• 44:47
  we think it will be, those who own the Bitcoin will have most
• 44:51
  of the power. We have the best money in the
• 44:52
  world. Therefore, you want to ensure
• 44:54
  that you are building these relationships and and building
• 44:57
  solid communities so that we can never get ourselves back into
• 45:01
  this position again. Make sure each one teach one.
• 45:04
  We are all nodes in the network. So go to orangecoapp.com stack
• 45:08
  friends who stack SAT's and start connecting with people.
• 45:12
  This is like one of the most important things to be doing.
• 45:15
  OK, I'm going to tee you up on this, Adam, because you did just
• 45:19
  share this. So I'm going to read your tweet
• 45:23
  and then you can unpack this a little bit.
• 45:25
  So here's Adam O'Brien on Twitter and he goes, Being
• 45:27
  considered a financial terrorist in Canada is low key annoying.
• 45:32
  The constant debaking has made it hard for me to live in this
• 45:35
  country. That said, it also inspires lots
• 45:37
  of the products and services at the Bitcoin.
• 45:40
  Well, full cobra effect. So Adam, maybe get some contacts
• 45:45
  here. I, I've heard this story before.
• 45:48
  This is a new story about you guys getting the bank like
• 45:50
  literally last week. But when we were hanging out in
• 45:54
  Nashville, you were, you were telling me about, you know, the
• 45:57
  fact that you've been debanked from almost all Bitcoin banks,
• 46:02
  Oregon, rather all banks because of Bitcoin.
• 46:04
  Your wife's been debanked just because she has your last name.
• 46:08
  Like, maybe let's start from the beginning and then we can talk
• 46:11
  about, like, you know, why you're a financial terrorist,
• 46:15
  apparently. Yeah, dude, it's crazy.
• 46:17
  It's like in in Canada we we have basically five kind of six
• 46:23
  banks. That 6th one is like a blanket
• 46:26
  group that people have different names under, but it all flows
• 46:29
  through one. And then all those five kind of
• 46:32
  all processing is done through one of two main like processors.
• 46:36
  And so since 2015, I've been getting just like blanket
• 46:41
  statement, you know, no, you can't bank here anymore, go to a
• 46:45
  different bank. But obviously eventually I like
• 46:47
  one of the banks to go to. And so from a personal level,
• 46:50
  this has made it difficult to do things like pay my power bill
• 46:54
  and like, you know, buy groceries and even the war on
• 46:59
  cash. Like I'm obviously a pretty
• 47:00
  heavy cash user. And I tell the story sometimes.
• 47:03
  I think I've told you on the show before, I was like walking
• 47:05
  down the street, the White Ave. in Edmonton where our office is
• 47:09
  trying to buy a sandwich. The sandwich was like 13 bucks
• 47:11
  or something. I had a $50.00 bill and they
• 47:14
  wouldn't take it. They're like, Nah, we don't take
• 47:15
  50s. Like it's too fraught or too
• 47:17
  much fraud. I was like, what, like, how does
• 47:21
  the guy live around here? Like, you know, it's, it's mind
• 47:25
  blowing to see how we we're being funneled towards, you
• 47:29
  know, we're being funneled toward in any state.
• 47:31
  We're being funneled towards something that they can control.
• 47:33
  However, I want to again point out, like the last bit of that
• 47:37
  tweet, full cobra effect, yeah. Explain that to people.
• 47:40
  OK, so the cobra effect is this notion.
• 47:43
  So it comes from what happened when the British Empire took
• 47:46
  over India in like, the 1600s, I think.
• 47:49
  And at the time, the Indian citizens, the India citizens
• 47:53
  were getting eaten by cobras, which was like, obviously not
• 47:56
  that great. And so the British, the British
• 47:59
  Empire came in and was like, OK, we're gonna put a bounty on
• 48:02
  cobra heads. So, you know, you can go kill a
• 48:05
  cobra, bring it to us, and we're gonna pay you just like, you
• 48:08
  know, seems at the surface, like, pretty good.
• 48:10
  But we then created cobra farmers and then created a bunch
• 48:15
  of these, like, you know, kind of malicious entrepreneurs.
• 48:18
  Entrepreneurs decided to just farm cobras, kill their farms
• 48:22
  and then take them in for bounties.
• 48:24
  It reminded me a lot of the of the Canadian gun gun
• 48:29
  prohibition, which we'll talk about in a second.
• 48:31
  And So what did the government do?
• 48:33
  They were like all butt hurt that, you know, the the militias
• 48:36
  entrepreneurs are taking advantage of them.
• 48:38
  And so they said no more bounty and all the farmers released the
• 48:43
  cobras into the wild, making the cobra problem worse.
• 48:47
  And I think like the analogy and what we can pull from that is
• 48:50
  just the fact that governments like you, you cannot interfere
• 48:55
  and, and, and create artificial like regulation or, or, or rules
• 49:01
  inside of a free market, the free market of nature, which is
• 49:04
  like cobras eat people. You know, you can't like you
• 49:08
  can't insert this, this third party regulation into it.
• 49:13
  Otherwise the problem gets worse.
• 49:14
  And the problem of open banking, which is a government problem,
• 49:18
  they're shooting themselves in the foot because they're
• 49:20
  inspiring me. And by the way, there's like,
• 49:22
  it's not just me. I think I, like, I wear this
• 49:24
  pretty proudly. I probably am the most debanked
• 49:27
  human in the country like I am. I am out of banks.
• 49:31
  I do have a wait. Wait, wait, can you literally
• 49:33
  not? No, I, I do have a, a credit
• 49:39
  union in Alberta has given me personally a bank.
• 49:43
  When the company went public, we negotiated a banking contract as
• 49:46
  a company with this crew and we wrote into our negotiations that
• 49:50
  the CEO will be able to have a checking account.
• 49:53
  That was like something that I was very strong, felt very
• 49:55
  strongly about that I wanted. And so, you know, but like all
• 49:59
  the big ones and like like TD, Scotia Bank, BMOCIBCRBC, those
• 50:03
  like the big 5, we have like 5 big banks in Canada.
• 50:07
  All of them have, have debanked me.
• 50:09
  And I think it's what it's done is it's inspired me to make a
• 50:15
  platform where you can live because like it's very annoying
• 50:18
  to not have modern banking, right?
• 50:19
  The tap your phone to pay for things is super convenient.
• 50:22
  The like E transfer network here in Canada is really good.
• 50:26
  And, and ultimately, you know, I've kind of taken that to
• 50:29
  heart. Something we ask ourselves here
• 50:30
  is like, how do I interact with money and how can I apply a
• 50:35
  Bitcoin standard to that? A Bitcoin standard, of course,
• 50:38
  is Bitcoin in self custody, right, number one.
• 50:42
  And then #2 being able to use it with the same convenience.
• 50:45
  And so from my perspective, like my kids, if I do my job
• 50:50
  properly, we will never, my kids will never have a bank account.
• 50:54
  I remember like with my dad walking in when I was like 10
• 50:56
  years old, going to like the bank, get my little bank book
• 50:59
  and like whatever it was, my kids are never going to have to
• 51:01
  do that. My kids already have Bitcoin
• 51:03
  wallets. You know, we're going to be able
• 51:06
  to. That's what I'm building for.
• 51:08
  I'm building for the next generation to be able to
• 51:11
  function without a bank account to the point where like right
• 51:15
  now, even with a light account at Bitcoin, well, like you can
• 51:20
  pay your bills, you can you can send an E transfer to, you know,
• 51:24
  to like to people like it's really important to me that
• 51:28
  people have the opportunity to use the money that they control,
• 51:31
  which is like, I don't know why that's a foreign or weird
• 51:36
  concept. We should be able to use the
• 51:39
  money that we control or that we've earned or that we have,
• 51:43
  and that's why we exist. Ultimately that's just
• 51:46
  independence. That's just being free.
• 51:48
  It's like it's crazy. And I mean, in Canada we saw
• 51:52
  like the trucker protests which really kicked this off.
• 51:54
  People getting D banked, their accounts frozen because they
• 51:58
  donated to a peaceful protest is mind blowing.
• 52:01
  And it went to show how many, how much control and how little
• 52:05
  freedom you can have at the drop of a hat.
• 52:08
  And you know, we see fake crisis all the time.
• 52:13
  We see, you know, propaganda come out through the state LED
• 52:16
  machine. Even here in Canada.
• 52:17
  We were talking yesterday, my son's in a in like a little
• 52:20
  hockey camp. And so the dads, you know, sit
• 52:22
  in the stands and solve the world's problems.
• 52:24
  And one of them is like talking about how he doesn't see much
• 52:27
  news on Facebook anymore. And I was like, well, yeah,
• 52:29
  because of the Canadian government banned Facebook from
• 52:32
  sharing news. And now the only news that we
• 52:34
  get on like these like news aggregators like Facebook are
• 52:38
  the state funded news. And he's like, whoa, I heard
• 52:42
  about that, but I didn't really put two and two together.
• 52:44
  And it's just like, yeah, this is how it works.
• 52:47
  We've got propaganda that comes through.
• 52:49
  We then have money that can be controlled.
• 52:51
  This is why Noster is important. This is why Bitcoin's important.
• 52:53
  This is why Bitcoin, well, is important.
• 52:55
  This is why we need rules and not rulers.
• 52:58
  And so, yeah, man, that's kind of a bit of like a long, a long
• 53:01
  story, but it's crazy. And then last week.
• 53:04
  So as a result of that our like DCA product are recurring by
• 53:10
  here in Canada, recurring by in US coming soon because you're
• 53:13
  not the biggest country in the world, you are but.
• 53:17
  He's lying. The world revolves around
• 53:19
  America. You Canadians are Larping.
• 53:22
  We are a big LARP, let's be honest, but our recurring buy is
• 53:27
  not a connect your bank recurring buy.
• 53:28
  We've used like the like the bill payment network to do it.
• 53:32
  And so how it works is we enlisted a payment processor.
• 53:35
  You then send a bill payment to the payment processor on your
• 53:39
  predetermined schedule. And then when that bill payment
• 53:41
  comes in, those dollars are automatically converted to
• 53:44
  Bitcoin and sent directly to your cold storage, which is like
• 53:47
  a good way to do it. You don't have to give us your
• 53:48
  bank info. It's all user distributed and
• 53:53
  when it started like all the banks participated, it was all
• 53:56
  good. Since then, one bank or sorry,
• 54:00
  two banks have since like just cut our payment processor.
• 54:03
  Like they're like, Nope, you can't send bill payments here
• 54:05
  anymore. No warning, no notice, nothing.
• 54:08
  Just like customers are like, hey, it's not working.
• 54:10
  And I was like, what do you mean it's not working?
• 54:11
  Like everything looks fine on our side.
• 54:14
  And then, and I don't have a bank, so I can't like, search it
• 54:16
  up. So we got to get other people to
• 54:18
  like, go investigate. And sure enough, like the
• 54:21
  payment process was gone. And then last week, a third one
• 54:24
  just like waxed it. And so it's it's like this is
• 54:28
  something that Trump said in his speech.
• 54:31
  Yeah, it was Trump or RFK One, one of the two politicians said
• 54:34
  it in their speech, which resonated so hard with me.
• 54:37
  And it was the promise to end Operation Choke Point.
• 54:39
  And I don't think that many people understand what Operation
• 54:42
  Choke Point is. But Choke Point is like a little
• 54:45
  bit of what we went through in COVID where it's like, oh, you
• 54:48
  don't have to get the vaccine, but you can't go anywhere or do
• 54:51
  anything if you don't have it. Like, whoa, whoa, whoa.
• 54:54
  It's totally legal to do Bitcoin stuff.
• 54:57
  You just can't use your money if you do.
• 55:00
  And it's like, well, how how is that?
• 55:03
  How is that good? How is that a free society?
• 55:06
  You know, they get to hide behind the like headline of like
• 55:10
  Bitcoin is legal, but then at the end of the day, you can't do
• 55:14
  anything with that Bitcoin. That's a problem.
• 55:15
  And so again, this is like this is cobra effect in motion.
• 55:19
  This is, you know, I'm like, I'm a psychopath and I'm taking on
• 55:24
  the like banking system. People ask me like, cuz we're
• 55:26
  publicly traded. So I have like the investor
• 55:28
  meetings and stuff and people are like, what's the end game?
• 55:31
  Like, you know, what's your hopes and dreams of the company,
• 55:33
  blah, blah, blah. And straight up I'm always like,
• 55:36
  I want to buy Scotiabank. I'm like Scotiabank's like AI
• 55:39
  don't know what they're worth. Like, you know.
• 55:41
  Let's see. I'll, I'll see what the
• 55:44
  Scotiabank market cap is. It's, it's like, yeah, $73
• 55:48
  billion. Let's go.
• 55:50
  Yeah, yeah. I want to like bankrupt and then
• 55:52
  buy Scotiabank and like, you know, I want to completely flip
• 55:57
  how people look at and think about money.
• 56:01
  And, you know, Canada's talking seriously about a CBDC.
• 56:04
  They've transitioned out of CBDC because that name is tainted and
• 56:07
  they're calling it a digital loony.
• 56:08
  If you look at the propaganda, you can just see it shift, man.
• 56:11
  It's like. Just that name Digital loony.
• 56:13
  Like, are you kidding me? It's so bad, man.
• 56:16
  And then it's crazy. So I've been like, I've been
• 56:18
  asked to give some like radio interviews here about like, you
• 56:22
  know, the pros and cons of digital looney.
• 56:24
  And I tell them like con is that someone can control it.
• 56:26
  Someone can turn off your money and like, well, that wouldn't
• 56:29
  happen. It's like based on what like
• 56:32
  I've had it happen to me personally, my wife's had it
• 56:35
  happen to her. She's like, you know, like
• 56:38
  harmless, completely harmless, doesn't do anything weird.
• 56:40
  Like I'm the I'm the psychopath. She's like normal and buys like
• 56:44
  her, her, you know, her card transactions are like the
• 56:48
  grocery store and like clothing for the kids, like as normal as
• 56:52
  you can get for like, you know, a young suburbia mom of four
• 56:56
  kids is like pretty normal. And so when they, when that
• 57:00
  starts happening, and I think now more and more people are
• 57:03
  seeing it because operation choke point because like, you
• 57:07
  know, the controls, the people with the talons are getting
• 57:10
  scared. They we have a tool for freedom.
• 57:12
  And so we get to like, yeah, we get to, we get to move off of
• 57:17
  out of the control and their talons are gripping and that's
• 57:20
  just cobra effect in motion. So I'm super stoked to be I was
• 57:25
  on, I was talking at a meet up a few weeks ago and I was like,
• 57:29
  we're the cobra farmers. Like let's just make this
• 57:31
  painful. Let's take their rules and use
• 57:34
  it against them. When the guns in Canada, they
• 57:37
  like banned handguns and they were paying people like they
• 57:42
  give a bounty for this and some icon printed, 3D printed like
• 57:49
  boxes and boxes and boxes of guns and took them in and the
• 57:54
  government bought them like it's so funny, like $4.
• 58:00
  Investment per gun for what? Was it like 4 or $500 or
• 58:03
  something? Payback?
• 58:04
  Dude, yeah. It was like the dollar in
• 58:06
  plastic. It was, it was amazing.
• 58:09
  And so I think it's just like, you know, everyone listening
• 58:12
  right now in 2024, we're Cobra farmers.
• 58:15
  Be a Cobra farmer and let's make it very, very difficult for the
• 58:20
  government to succeed in capturing our value and we do
• 58:23
  that by guess what, just sticking around, staying in our
• 58:27
  little, you know, staying in our Bitcoiner environment and just
• 58:32
  build it. Let's just make it easy.
• 58:33
  Let's just grow that Bitcoin environment right start a meet
• 58:35
  up like Orangeville. Some people stocks at stay
• 58:38
  humble. It's like it's not, you know,
• 58:41
  it's it's like our financial system right now is so complex
• 58:45
  that we assume Bitcoin because it's better has to be more
• 58:49
  complex, but it's actually, you know, it's better because it's
• 58:52
  more simple. It's like who gets rewarded?
• 58:56
  The person that works hard, who stays rewarded, the person that
• 58:59
  spends less than they earn. We're like in the traditional
• 59:02
  financial system. It's actually the opposite.
• 59:04
  It's like, you know, you and I were saying for the show up
• 59:07
  deeds like the guy who was it like the drug dealer and the
• 59:11
  only fans pulling up in their. The scammers are the richest
• 59:14
  people in our society. Let's just tell you about
• 59:17
  society anyways. Wait Adam before you go on
• 59:19
  though, there is a question here.
• 59:20
  Wait, DAP says why is this guy to bank?
• 59:23
  Would make this combo make more sense to have some background.
• 59:26
  So very clearly, Adam, why are you a financial terrorist in
• 59:30
  Canada? Yeah, I don't know.
• 59:32
  I actually. It's because he's a bitcoiner.
• 59:34
  I, I think it's because I'm a bit Oh, I, I just have a ticket
• 59:37
  at home. I save all the letters.
• 59:38
  I should like upload the letters because there's no context The
• 59:42
  the letter that comes in just basically I post one on my
• 59:44
  Twitter. You can go see it on my Twitter.
• 59:46
  That's actually my wife's account that got to you banked.
• 59:49
  But it's like the, the main letter says, we, you know, risk
• 59:54
  profile, we're not going to move forward, blah, blah, blah.
• 59:58
  You know, nothing you've done is illegal, but it's outside of our
• 1:00:02
  risk profile for your account. And therefore you, you don't get
• 1:00:06
  to like, you don't get to use our bank, which actually, I, I
• 1:00:11
  don't disagree with that sentiment.
• 1:00:13
  Like I believe that private businesses should have the
• 1:00:15
  ability to pick and choose who they do business with.
• 1:00:18
  That's totally fine. The problem I have is, yeah,
• 1:00:21
  here it is. The the problem that I actually
• 1:00:23
  have is that the the government has made it impossible to live
• 1:00:28
  without a bank, both from the war on cash perspective, but
• 1:00:31
  also like I tried. So like, you know, I'm debanked.
• 1:00:33
  I'm a heavy cash user. We were buying a new family SUV
• 1:00:37
  and I went to go like buy, buy a car with cash.
• 1:00:41
  And so I walk in. It was like, you know, like a
• 1:00:44
  like a whatever expensive car or SUV and I'm like, I can pay in
• 1:00:49
  cash, right? They're like, Yep, no problem.
• 1:00:52
  And I'm like, OK, great. Like when should I pick up the
• 1:00:54
  car? Like come on Wednesday.
• 1:00:55
  So it's like, great, get my cash, like bring it into the
• 1:00:58
  dealership in like my backpack, my duffel bag, and they're like,
• 1:01:02
  whoa, whoa, whoa, what's going on?
• 1:01:04
  I'm like, well, I told you I was paying in cash.
• 1:01:05
  Like we thought you meant check. It's like, well, if I meant
• 1:01:09
  check, I, I would have just said check.
• 1:01:11
  I, I meant cash. And so I said cash.
• 1:01:13
  And then they were like, oh, well, we can take the cash.
• 1:01:16
  We have to give it to the police for 10 days.
• 1:01:18
  The police are going to keep it. And then if it's good, they'll
• 1:01:21
  give it back to us. And I was like, whoa, like, I
• 1:01:24
  don't necessarily trust the fact that someone else just gets to
• 1:01:27
  hold my cash, especially when like previously, the police had
• 1:01:31
  seized a bunch of of cash and I ended up getting it back.
• 1:01:34
  I had to sue and go to court and then ended up getting it back.
• 1:01:38
  But like, we live in a system where financially speaking, you
• 1:01:42
  are guilty unless proven innocent.
• 1:01:44
  I've got zero, like absolutely zero financial claims against
• 1:01:49
  me. I'm squeaky clean.
• 1:01:50
  I'm like the CEO of a publicly traded company.
• 1:01:52
  Like, you know, you don't get to necessarily do that without
• 1:01:55
  going through at least one background check.
• 1:01:57
  I volunteer at a church. I'm like, you know, involved in
• 1:02:00
  my son's hockey. Like I've done the background
• 1:02:02
  checks, I've done the criminal checks.
• 1:02:03
  Like I'm pretty clean guy. And but at the same time, I'm
• 1:02:07
  like, you know, unbankable and too risky.
• 1:02:10
  And it's only because of Operation Choke Point, it's only
• 1:02:13
  because our money is not free. And it's only because, you know,
• 1:02:16
  at the end of the day, he who controls the money controls the
• 1:02:20
  individual. Because I promise you, and we're
• 1:02:24
  seeing this in custodial Bitcoin exchanges right now, I can make
• 1:02:28
  you jump through hoops if I'm standing between you and your
• 1:02:31
  value, especially when you need that value.
• 1:02:34
  And there's going to come a time, hopefully not in my
• 1:02:37
  lifetime, but it seems more and more likely that it will be.
• 1:02:41
  There's going to come a time when your life savings are in a
• 1:02:44
  bank held and locked by some arbitrary, ridiculous rule in
• 1:02:49
  the name of safety. And you're going to have to
• 1:02:51
  choose between that money that you've worked hard and and
• 1:02:55
  sacrificed to save and like the safety of you and your family.
• 1:03:00
  And I think that's that's garbage.
• 1:03:03
  Yeah, 100% and and it. Like I like Sense Quest here.
• 1:03:05
  That's a good, that's a good call.
• 1:03:07
  It's like, don't discriminate against me.
• 1:03:09
  I'm in the minority. Yeah, yeah, let's not say that
• 1:03:12
  on YouTube, but yeah, check out the comments.
• 1:03:14
  But for especially for like Americans here, our audience is
• 1:03:19
  mainly American and of course we've seen what's happened in
• 1:03:22
  Canada. But I think a lot of like one
• 1:03:25
  signal that most people forget is a lot of things that happen
• 1:03:27
  in Canada are it's like a it's like a test bed experiment place
• 1:03:31
  for things to get exported into the United States or, you know,
• 1:03:34
  in any other part of the world. So it's like people might be
• 1:03:37
  thinking here like, oh, this will never happen in the US.
• 1:03:40
  Like, yeah, you know, Canada is, is messed up and we know where
• 1:03:43
  they're going. And this is potentially can't
• 1:03:45
  happen in the US. And it's like, well, one, this
• 1:03:48
  stuff does happen already, but considering where we might be
• 1:03:52
  going in the future, it could get infinitely worse for for us
• 1:03:56
  in America. And This is why it's very
• 1:03:57
  important for us to continue to double down on the Bitcoin ethos
• 1:04:01
  and, and advocate for freedom of transaction, because if, if what
• 1:04:05
  they've done for freedom of speech, they're not going to let
• 1:04:07
  you, you know, transact freely if you can barely talk freely.
• 1:04:11
  So it's it's coming. Throughout at least modern
• 1:04:15
  history, like recorded history, the last 100 or so years, we've
• 1:04:19
  never gotten more free. Like, like, like, you know, it
• 1:04:22
  hasn't been like, oh, here's the temporary law that we're just
• 1:04:26
  gonna keep temporarily for safety.
• 1:04:28
  Like wasn't income tax at one point, like, you know, just to
• 1:04:31
  fund the war, like three, 3%. Don't worry, once the war is
• 1:04:35
  funded as good here in Canada, now we've got a 66% capital
• 1:04:39
  gains tax. It's like they never go away.
• 1:04:42
  Once the talons get sunk in, it's it's they they don't come
• 1:04:47
  out and Bitcoin is the only way to like rip those talons out bit
• 1:04:50
  by bit. Yeah, man, it's just we are
• 1:04:54
  cobra farmers. That's maybe I'm going to start.
• 1:04:56
  That's that's a. Cobra for Halloween here.
• 1:04:58
  That's the new Bitcoin well Lego trademark on on the show yeah TM
• 1:05:04
  Speaking of Bitcoin well, of course you know you're our
• 1:05:06
  leading sponsor. We love partnering with you
• 1:05:08
  guys. I do want to put you on the spot
• 1:05:10
  here, Adam, because I know some of the stuff you're working on.
• 1:05:13
  So what can you expose to the people?
• 1:05:17
  What can you say? Can we get a leak here on what
• 1:05:19
  you're working on with Bitcoin? Well, before we roll out today's
• 1:05:22
  show. Yeah, dude.
• 1:05:23
  So in that mantra of like being able to use Bitcoin like again,
• 1:05:31
  I want it to be very, very easy to be able to buy Bitcoin and
• 1:05:34
  receive it into self custody. One of the problems that we've
• 1:05:37
  had with that is the you know, the UTXO issue and so in Canada,
• 1:05:41
  we've just like sneaky launched very, very quietly lightning
• 1:05:46
  payments with interact E transfer.
• 1:05:48
  So you can go right now buy buy Bitcoin with Interac E transfer
• 1:05:53
  and have it sent directly to your lightning wallet whatever
• 1:05:56
  payment address you want. It's honestly it took me one
• 1:06:00
  second. I sent one the other day.
• 1:06:02
  It was one second from the E transfer being received by
• 1:06:07
  Bitcoin. Well and SAT's being delivered.
• 1:06:10
  I use my my primal, just adamant primal.net add that as a Bitcoin
• 1:06:14
  address, sent an E transfer. Boom one second later I had
• 1:06:19
  SAT's in primal. It was like out of hand amazing.
• 1:06:22
  It works so good in Canada, it's incredible.
• 1:06:25
  Dude, well, it's because we're so centralized and like, but
• 1:06:27
  here's another thing. We actually had to change the E
• 1:06:30
  transfer address that we send things to because our E transfer
• 1:06:35
  piece is getting like flagged by the banks.
• 1:06:37
  So we're just in like this constant state of iteration.
• 1:06:40
  But again, what did that do? It forced us to innovate.
• 1:06:42
  We've got a better solution coming down the pipe where it
• 1:06:45
  will be basically untrackable and untraceable.
• 1:06:47
  So I'm, I'm like quite excited about that anyways.
• 1:06:50
  So that's super exciting. Coming soon though, and this is
• 1:06:53
  going to be not only in Canada but also in the US and we're
• 1:06:58
  going to be pushing for this to be around the globe.
• 1:07:01
  It's the ability to buy gift cards with Bitcoin or lighting
• 1:07:04
  network, which can be very good. Very, very simple.
• 1:07:06
  Tap your card to pay for things. But then what this is all moving
• 1:07:09
  towards is the ability to replace your bank account.
• 1:07:12
  I believe in a world where you can have your paycheck deposited
• 1:07:16
  into something of a Bitcoin well account, have a percentage of
• 1:07:19
  that converted into Bitcoin sent directly to cold storage or your
• 1:07:22
  lightning wallet, and then the rest sent to your like, you
• 1:07:26
  know, your trad bank or just kept in Bitcoin well, and you'll
• 1:07:30
  be able to pay your mortgage with that, pay your, your, your
• 1:07:33
  bills with that, whatever it may be.
• 1:07:35
  And that's where we're working towards, I want Bitcoin to be
• 1:07:40
  the bank account for people who want to live on a Bitcoin
• 1:07:43
  standard. And like our mission is to
• 1:07:44
  enable independence. The only way to enable
• 1:07:48
  independence is to make it easy to use Bitcoin in self custody.
• 1:07:52
  And that's why we're here. And so I'm pretty stoked on
• 1:07:54
  that, man. I think it's, I think it's good.
• 1:07:57
  I'm really really, you know, humbled and and honored like the
• 1:08:00
  fact that you guys crash the wishing well all the time.
• 1:08:03
  It like, you know, it's like I'm like.
• 1:08:06
  We gotta fix this. But also I'm like, holy crap, I
• 1:08:08
  can't believe how many people use this.
• 1:08:10
  I can't believe how many people. You know, we're a very low trust
• 1:08:14
  platform, but we're not a no trust platform.
• 1:08:17
  There's no such thing as a centralized no trust platform.
• 1:08:19
  And, and although, you know, I think I'm quite trustworthy,
• 1:08:22
  but, but it, it means a lot that people send us money and receive
• 1:08:27
  their Bitcoin. It means a lot that they that
• 1:08:29
  they tell their friends and then that they play the Bitcoin
• 1:08:31
  wishing well to win free sats makes me very, very happy.
• 1:08:34
  So I think it's yeah, it's it's really been exciting.
• 1:08:38
  It's been an awesome year. I'm super stoked to get these,
• 1:08:44
  these products and services that help you live on a Bitcoin
• 1:08:46
  standard. And again, it's like I'm just
• 1:08:48
  building a platform that I need like it's, it's something that I
• 1:08:52
  and, and over time, more and more bitcoiners are going to
• 1:08:55
  need. I needed a place to pay my
• 1:08:57
  bills. So we built the ability to pay
• 1:08:59
  your credit cards through the lighting network and, and, and
• 1:09:02
  with Bitcoin, I needed or no, I actively need a way, like I
• 1:09:07
  think I'm on thin ice here with the majority of banks.
• 1:09:09
  I need a way to like deposit a paycheck and then get Bitcoin
• 1:09:13
  into self custody. And as a result, you know, we're
• 1:09:16
  going to build that. And so I think it's super
• 1:09:18
  exciting. Opti is like, because I don't
• 1:09:21
  have a bank in the US, obviously.
• 1:09:23
  So I'm like messaging up like, hey, how does your bank work
• 1:09:25
  with this? He like tells me like, OK, back
• 1:09:27
  to the drawing board, like figure it out.
• 1:09:29
  So I think it's yeah, man, I think I'm super bullish on on
• 1:09:33
  the future of I'm bullish on the future of self custody.
• 1:09:36
  I'm bullish on the future of people understanding why self
• 1:09:38
  custody is so important. And I'm bullish on on the COBRA
• 1:09:42
  effect. I'm bullish on governments not
• 1:09:45
  understanding Bitcoin thinking they can win without realizing
• 1:09:48
  they don't control the money anymore.
• 1:09:50
  And if you don't control the money, you can't control the
• 1:09:53
  human. And I think that's like, that's
• 1:09:55
  a, that's a great thing. 100 percent, 100%.
• 1:09:58
  And that's that's the message we try to get across on this show
• 1:10:01
  all the time. It's like transacting freely is
• 1:10:06
  like one of the most important things to be doing, just as
• 1:10:09
  freedom of speech is. And if we've seen the trend and
• 1:10:12
  again, you know, leaning into the latest meme of our show, you
• 1:10:16
  know, Bitcoin. Wait, tomorrow's Bitcoin news
• 1:10:18
  today. Nice we're.
• 1:10:20
  Seeing we're, you know, as Bitcoiners, it's very, I
• 1:10:23
  wouldn't say it's very easy, but it's you have a better
• 1:10:26
  predictive ability than the average person because you see
• 1:10:29
  the world a lot clearer. And, you know, we don't try to
• 1:10:32
  get 2 tinfoil hat here on the show.
• 1:10:34
  We try to, you know, keep things uplifting, but there is some
• 1:10:38
  worrying things on the horizon. And as a Bitcoiner, it's very
• 1:10:42
  important for us to continue to maintain the freedom to transact
• 1:10:47
  because if they can shut you off in the banks, you know, they can
• 1:10:50
  shut you off in me. They can literally make you
• 1:10:53
  homeless. Like for everything.
• 1:10:55
  You literally can't move. You can't do anything if you
• 1:10:58
  can't transact freely, let alone can't speak freely.
• 1:11:01
  And we can never get to the truth, which we're already see
• 1:11:04
  them trying to do this in real time.
• 1:11:06
  So there is. Things to stay vigilant about
• 1:11:09
  like This is why it's important. I mean, we take for granted like
• 1:11:12
  we run a Bitcoin node and like I, I run my nostril notes
• 1:11:16
  through my Bitcoin node, primal.net/adam if you want to
• 1:11:20
  follow me on master. And I think that that's like
• 1:11:23
  that's super empowering that I have all of my financial and
• 1:11:26
  then all of my speech transactions or notes going
• 1:11:30
  through a piece of hardware and software that I control is
• 1:11:34
  something that we've never really experienced.
• 1:11:37
  Like we've never had the ability to mass communicate inside of a
• 1:11:40
  platform that that we own and control and have access to.
• 1:11:44
  And I, and I think that that's something that we cannot
• 1:11:48
  understate. And we should all be learning
• 1:11:51
  like we should all be learning if for no other reason than to
• 1:11:56
  teach the next generation. We should all be learning how
• 1:11:58
  that works. Because I truly believe if I
• 1:12:03
  don't think my kids will have the same freedom of speech when
• 1:12:08
  they're my age, if they do not figure out how to distribute
• 1:12:12
  that through a network that is owned and controlled by them or
• 1:12:16
  that is governed by rules and not rulers.
• 1:12:17
  Protocol driven, not platform driven.
• 1:12:20
  And This is why I'm bullish on protocols.
• 1:12:22
  And we've got a lot of cool stuff lined up to integrate
• 1:12:25
  nostril and Bitcoin. Well, I'm like, I'm so jazzed
• 1:12:27
  up. I don't want to turn this into a
• 1:12:28
  Bitcoin well ad you guys, you guys show us enough, but it is
• 1:12:32
  it is very, very exciting. And then but just one last shell
• 1:12:34
  sense quest asking how does Adam transact with no bank?
• 1:12:37
  bitcoinwell.com is how I transact with no bank.
• 1:12:40
  I literally have like I have an Amex card that I spend on every
• 1:12:45
  single month. And then I just send the
• 1:12:47
  transaction to like to pay that Amex card through
• 1:12:51
  bitcoinwell.com and it pays my bills.
• 1:12:54
  Like that's literally how I live, which is, which is like,
• 1:12:59
  again, it's COBRA effect. It's like I've built the
• 1:13:01
  platform that I need. And I'm banking on the fact that
• 1:13:05
  governments are not going to get less controlling.
• 1:13:09
  I'm banking on the fact that more people are going to need an
• 1:13:12
  alternative to this centralized tyrannical banking environment.
• 1:13:16
  And I'm banking on the fact that Bitcoin is the obvious answer.
• 1:13:19
  I think I'm like pretty logically sound and protected in
• 1:13:22
  those three assumptions. I would agree, 100% agree.
• 1:13:26
  Well, Adam, this has been a great rip.
• 1:13:28
  I'm glad I did just let you rip it because not only do people
• 1:13:32
  get more familiar with you and what you're dealing with,
• 1:13:35
  they're familiar with Bitcoin. Well, and it really goes into
• 1:13:38
  one of the main themes that I try to push across in the
• 1:13:41
  culture segment every single day is once you get on a Bitcoin
• 1:13:46
  standard, once you're able to free yourself from, you know,
• 1:13:49
  the Fiat rat race, then you start to think like an
• 1:13:53
  entrepreneur. And most Bitcoiners are just
• 1:13:54
  building products that they want for themselves.
• 1:13:57
  And This is why the free market will out compete any government
• 1:14:00
  out there or any centralized control, because we're just
• 1:14:04
  building products that we want to see and we can move very
• 1:14:06
  quickly and be very nimble. And This is why the Bitcoin
• 1:14:09
  network will win. This is why Bitcoiners will
• 1:14:12
  continue to win. It's all good being a Bitcoin.
• 1:14:16
  I mean, it's so awesome being. A It's like, imagine somebody
• 1:14:20
  betting against oxygen, like in the early days.
• 1:14:23
  That's how dumb it is to bet against Bitcoin.
• 1:14:25
  Or electricity. Or the car.
• 1:14:27
  Or the wheel. It's like, no, no, no, gravity.
• 1:14:30
  Gravity won't stick around forever.
• 1:14:32
  That's just a fad. This crazy guy is having apples
• 1:14:35
  fall on his head. That's where gravity comes from.
• 1:14:37
  It's like Bitcoin is a protocol. It is something that cannot be
• 1:14:41
  erased and it's the best possible place to store our our
• 1:14:45
  value. So let's go Bitcoin and self
• 1:14:47
  custody. Let's keep winning.
• 1:14:49
  Let's go. Well guys, Adam, let me put you
• 1:14:52
  behind the scenes as I wrap this one up.
• 1:14:53
  But really appreciate you coming on.
• 1:14:55
  You know, the Opti OB takeover was pretty lit high energy.
• 1:14:59
  We were both geeked on coffee the whole show.
• 1:15:01
  So, you know, high energy. Yo, but I energy today I had
• 1:15:04
  that Maple syrup coffee, which we do here in Canada.
• 1:15:07
  So it's like it's that next level geek.
• 1:15:10
  So sugar crash incoming. Got it right now.
• 1:15:14
  All right, hang out behind the scenes.
• 1:15:15
  Adam, really appreciate you. Let me wrap this show up guys.
• 1:15:19
  This was I'm blanking on the what number episode episode 1057
• 1:15:26
  today is Tuesday, August 20, and this is your simply Bitcoin.
• 1:15:31
  Do you appreciate the show you think we provide value like
• 1:15:33
  share, subscribe, share this to your normies, share this to
• 1:15:36
  anyone that will listen. I know we're very Bitcoin
• 1:15:39
  centric. We speak in a lot of Bitcoin
• 1:15:40
  words, but once you get down the rabbit hole and you end up at
• 1:15:43
  simply Bitcoin, you realize there's so much more to the
• 1:15:46
  world than you've been told. And that is the goal here.
• 1:15:48
  So come back tomorrow. We will be back to our normally
• 1:15:51
  scheduled programming with the one and only Miko Jones.
• 1:15:55
  Until that, have a good rest of your day, get outside, touch
• 1:15:58
  some grass, eat some good food, call the people you love.
• 1:16:01
  This is the way. Get a workout in.
• 1:16:02
  You know, all these things is what makes you a better
• 1:16:05
  Bitcoiner. On that note, guys, it's been
• 1:16:08
  your boy Opti salute. Peace out.
• 1:16:14
  It was brought to you by bitcoinwell.com on a mission to
• 1:16:18
  enable independence.