Latest / Simply Bitcoin / BOMBSHELL BRICS Summit: World's largest country DITCHING US Dollar? | EP 1104

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BOMBSHELL BRICS Summit: World's largest country DITCHING US Dollar? | EP 1104 · Simply Bitcoin

• 0:00
  Yo, did the world's largest country and BRICS nations just
• 0:04
  officially ditched the US dollar to adopt A new currency?
• 0:08
  Well, another bombshell against the dollar has been dropped at
• 0:11
  the BRICS summit yesterday, and rumors are circulating that
• 0:15
  maybe, just maybe, the BRICS are about to create a new currency.
• 0:19
  We've been hearing these rumors. We even got a visual of this,
• 0:21
  but dare we speculate and say that we might see the BRICS
• 0:26
  nations formally adopt Bitcoin? We don't know yet, but before.
• 0:29
  You call us. Crazy.
• 0:30
  You're calling me crazy. And before you, we play this
• 0:32
  video of Putin yesterday at the BRICS summits denouncing the
• 0:36
  dollar. Let's not forget the BRICS
• 0:38
  countries are all almost entirely interested in Bitcoin.
• 0:42
  We have old BRICS countries like China, of course, the Hong Kong
• 0:45
  ETS been approved. Hash powers coming back online
• 0:48
  in China. Russia's legalizing Bitcoin
• 0:50
  mining. India's pivoting on its Bitcoin
• 0:52
  stance. Brazil's new bank is the largest
• 0:55
  digital asset bank in the world right now.
• 0:58
  And Sailor met with a central bank coming out of Brazil in
• 1:02
  2023. And of course we have South
• 1:04
  Africa home to Bitcoin and Kazi. So there is a lot of interest in
• 1:08
  regards to Bitcoin in BRICS nations.
• 1:11
  But does that mean they're going to adopt Bitcoin yet?
• 1:13
  No, but we're going to break this down for you guys because
• 1:17
  they're talking about a new international payment system.
• 1:19
  Obviously there's been a lot of concerns about Russia and
• 1:22
  getting kicked off SWIFT and all that good stuff.
• 1:24
  And we have even more interesting stories, which I'll
• 1:26
  play for you from BRICS countries after this video.
• 1:28
  So let's play you this video that we got yesterday from the
• 1:32
  BRICS Summit about Putin talking about the US dollar, which is
• 1:36
  something we always talk about here, and the nefarious nature
• 1:39
  of the US dollar payment system. Very much.
• 1:44
  Madame Rousseff, you said that the dollar was used as a weapon.
• 1:50
  It is true and we see that. I think it is a great mistake by
• 1:56
  those who do it since the use of the dollar, which is still the
• 2:03
  most important tool in global finance and it's use as a
• 2:08
  political tool, undermines trust in this currency, thereby
• 2:13
  reducing its capabilities. We are not the ones who do that,
• 2:18
  it's others. We are not rejecting the dollar,
• 2:21
  fighting against it, but if they don't let us work with it, what
• 2:24
  else should we do? We should seek other
• 2:26
  alternatives and this is exactly what we do.
• 2:32
  We aspire to cooperation, but still we should understand that
• 2:36
  the longer we'll live and work under someone else's rules and
• 2:40
  on someone else's platforms, the longer the transition will take
• 2:46
  to build a new fair economic financial system and the more
• 2:51
  turbulence we will experience, including those that we now
• 2:55
  witness in the Middle East. We'll talk to our colleagues
• 2:58
  about this later. Thank you very much for your
• 3:01
  work. So anyone that hasn't been
• 3:04
  sleeping under a rock. Has.
• 3:06
  Probably gotten to the point that we talked about here
• 3:08
  constantly about what has happened with the US dollar and
• 3:12
  it being weaponized against our enemies.
• 3:14
  You can argue that's good or bad, it's just that's the facts
• 3:17
  of the matter. And This is why as a Bitcoin
• 3:19
  channel. We are always.
• 3:21
  Talking about the importance of having a non sovereign money,
• 3:24
  something that no one can control.
• 3:26
  It's a equal playing field for everyone.
• 3:28
  And again, like I was saying, you know, the new BRICS members
• 3:31
  are taking some pretty good Bitcoin stances as well.
• 3:34
  Ethiopia, their government's been mining Bitcoin.
• 3:36
  Iran's been mining Bitcoin for years.
• 3:38
  Turkey, Ergodon, forgive me, has been meeting with Buchelli in
• 3:42
  2023. And of course, they have rampant
• 3:44
  inflation. So as Russia has been slowly
• 3:47
  kicked off, the dollar kicked off, Swiss assets have been
• 3:50
  frozen. It looks like they don't care
• 3:52
  anymore and are making calls for a new international payment
• 3:56
  system. Again, I do have some pictures
• 3:58
  here and I'm not alone. I got my boy Dante Cook, AKA the
• 4:02
  host of Bitcoin simply one of our new content creators.
• 4:05
  So Dante, good to have you here. Let me just break down a couple
• 4:09
  more of these headlines and then we will get into this and you
• 4:13
  and I'll go back and forth. So this article came out from
• 4:16
  the Guardian obviously kind of painting this as a bad thing
• 4:19
  Again, they they are an American media publication.
• 4:22
  So there is some concerns here and even some concerns coming
• 4:25
  from the BRICS nations themselves.
• 4:26
  But the headline here Putin calls for an alternative
• 4:28
  international payment system at BRICS summit, Russian presidents
• 4:32
  go to dollarized world economy alarms member that do not want
• 4:35
  bloc to turn against West and moving down a little bit.
• 4:39
  Russia is working on creating a settlement and payment
• 4:42
  infrastructure that would bypass the SWIFT payment system based
• 4:45
  in Belgium. The De Dollarization initiative
• 4:47
  is probably the most concrete proposal likely to emerge from
• 4:50
  the summit. That has been a remarkable
• 4:53
  forgiving Putin his biggest international platform since, of
• 4:55
  course, February 2022. You guys know why and this last,
• 5:00
  this last quote here before I show you this picture of, you
• 5:03
  know, potential, you know, symbolic gesture of announcing a
• 5:07
  new currency coming out from the BRICS nation we have.
• 5:10
  Agatha Demarius, a sanctions specialist at the European
• 5:14
  Council of Foreign Relations, said at this stage it is hard to
• 5:17
  imagine a widespread development and adoption of BRICS financial
• 5:20
  tools globally. the US dollar's domination of the global
• 5:23
  currency landscape is entrenched both for trade transactions and
• 5:26
  foreign exchange reserves. More than 80% of global trade
• 5:29
  transactions are invoiced in U.S. dollars, which also
• 5:32
  accounts for nearly 60% of central bank's reserve.
• 5:36
  And so again, look, we, we got this picture here coming out and
• 5:40
  there's some pictures of their currency.
• 5:41
  It looks kind of like they're making a new euro.
• 5:43
  But of course, this would be the BRICS dollar or whatever they're
• 5:46
  going to name it. It's not official yet.
• 5:48
  They haven't officially announced a new currency, but
• 5:51
  they are talking about it. And there is a symbolic gesture
• 5:54
  of holding a, a new BRICS currency, a new BRICS dollar
• 5:59
  now, which is very interesting to see.
• 6:02
  And so of course, as a Bitcoin channel, we know all the
• 6:05
  problems that go along with the SWIFT system, with that go along
• 6:09
  with the US dollar. We have been weaponizing the
• 6:12
  dollar. But I think the biggest point
• 6:14
  there is to further spread that the US is shooting themselves in
• 6:17
  the foot. Look, I'm an American, I
• 6:19
  obviously want to see America continue to prosper.
• 6:22
  But we're seeing that the politicians in Washington have
• 6:25
  used the US dollar and weaponized it against our
• 6:28
  enemies. Because if you really break down
• 6:30
  the economics of this, the dollar is our biggest export in
• 6:34
  the US. And now countries are looking
• 6:36
  for alternatives. You know, we're seeing bonds
• 6:38
  being dropped. No one wants U.S. government
• 6:40
  debt. And this is kind of one of those
• 6:42
  tit for tat things that we've pushed the world to such an
• 6:45
  extent that now everyone doesn't want to use our dollar.
• 6:49
  They're at least questioning the use of the dollar.
• 6:51
  And of course I would argue, and I think Dante would argue as
• 6:54
  well, and everyone here at Simply Bitcoin would argue.
• 6:57
  That. I fundamentally think it would
• 6:58
  be a mistake for Russia to create its own currency.
• 7:02
  You saw that last quote there that most countries aren't
• 7:04
  really going to want to join the Bricks payment system.
• 7:08
  But there is roughly about 50 or no, what's it 41 nations that
• 7:14
  are looking to join the bricks, you know, coalition.
• 7:18
  And that is a growing trend that we're seeing.
• 7:22
  People don't want U.S. debt. People are looking at the
• 7:25
  weaponization of the dollar and they're looking for
• 7:28
  alternatives. And obviously here at Bitcoin,
• 7:30
  we would argue that the best alternative, the best
• 7:32
  international payment system, or rather the best international
• 7:36
  money period is Bitcoin. So it's going to be interesting
• 7:39
  to see these conversations evolve.
• 7:42
  Of course, you know, you can say that oh, we're being like
• 7:44
  Russian Shields here because we're just covering the news
• 7:47
  news and showing that hey, Russia wants to drop the dollar.
• 7:50
  BRICS nations want to drop the dollar because it's been
• 7:52
  weaponized against them and Bitcoin is that neutral money
• 7:56
  and so once. All those countries get into
• 7:58
  Bitcoin, they realize that Bitcoin is the true neutral
• 8:02
  international money. I think the game is really going
• 8:05
  to change and that's when adoption, I mean, we might even
• 8:08
  hit hyper bitcoinization at that point.
• 8:10
  It's when one of these big nations fully embrace Bitcoin,
• 8:13
  fully adopt Bitcoin, and if we get all the countries that are
• 8:16
  in. Bricks interested in joining
• 8:18
  BRICS. That's a total of 50 countries
• 8:21
  dropping the dollar going into the Bitcoin system.
• 8:24
  And that is really when the game theory gets super crazy.
• 8:28
  Anyways, Dante, I know you've been covering this lately.
• 8:31
  I know you got your eye on the ball right here.
• 8:33
  So what's your thoughts on this clip coming out from Putin?
• 8:36
  What's your thoughts about BRICS nations dropping the dollar?
• 8:39
  Man, couple thoughts. Before we get into any of the
• 8:42
  logistics of the macro backdrop, I want to get into some cultural
• 8:45
  commentary because even the translators that are translating
• 8:49
  for Putin don't know how to have fun.
• 8:51
  Like it's crazy. Like, you know, at least our
• 8:54
  dictators or our evil people like a Bill Clinton or, you
• 8:57
  know, even like you can take Kamala for example, like she has
• 8:59
  a little cackling laugh that'll make you like kind of question
• 9:02
  whether she's a good person or not.
• 9:04
  But Putin just faces just like stone faced.
• 9:06
  The translator behind him stone faced.
• 9:08
  You know why I really think they're serious about the bricks
• 9:10
  this time? Because I have 4 kids and taking
• 9:13
  family pictures with. Six of us as hard as hell.
• 9:16
  So when they try to get 35 of them in one picture, like you
• 9:20
  had to know the camera person was pissed off.
• 9:23
  Like they got 13 different translators Speaking of 35
• 9:27
  different people and the picture look crazy.
• 9:29
  I know that that was hard trying to get short people in the
• 9:31
  front. Putin's like 55, you know,
• 9:34
  trying to get Chi in there. You know, it's just a whole mix
• 9:36
  of stuff going on in there. That's the cultural commentary.
• 9:40
  So I know that they're really going to try to make it work
• 9:42
  because doing a picture with 35 people and trying to get a good
• 9:45
  shot, we got to maximize. All right, The most important
• 9:49
  thing about bricks, like we in the United States, we have this
• 9:52
  slanted view that we are the most important people in the
• 9:55
  world. Top ten bricks countries
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  represent 45% of the world's population, 36% of the world's
• 10:01
  GDP, $29 trillion and 4429% of the world's earth surface and
• 10:08
  44% of total. GDP.
• 10:10
  So look these people. Are are actually the the larger
• 10:14
  in terms of population and even growth.
• 10:16
  There's this great image that's coming out of the top G7
• 10:19
  nations. None of the G7 nations are
• 10:21
  growing above 3% in GDP. In the BRICS countries that are
• 10:25
  represented there are growing above 3% in.
• 10:27
  GDP, so some of these countries have favorable backdrops.
• 10:31
  And one of the things that made the dollar is the dollar.
• 10:34
  You go back to Bretton Woods, you go back to our pact with
• 10:37
  Saudi Arabia. Once they found these new
• 10:39
  reserves of oil, we said, hey, we will protect you.
• 10:41
  We'll protect your waterways. We'll protect your you
• 10:44
  militarily with our Navy. We just ensure that all of the
• 10:48
  dollar or all of the oil that is paid for is paid for in dollars.
• 10:51
  That's how the dollar. Became the global reserve
• 10:53
  currency of the world, even beyond gold.
• 10:56
  So you have to remember the dollar is really backed by the
• 11:00
  currency of the world, which Natty Brunel said two days ago
• 11:03
  on Charles Payne show energy. And these shows in these
• 11:06
  countries have energy in abundance, right?
• 11:09
  They are some of the leading exporters in terms of oil, in
• 11:13
  terms of vegetables, in terms of some of the raw materials and
• 11:16
  goods, lithium, Palladium. You saw the United States
• 11:19
  government talking about putting a tariff on the Palladium
• 11:22
  because Palladium is going to be really important for this AI
• 11:25
  future and boom and Russia actually sits on top of all of
• 11:27
  it. So it's going to be very
• 11:29
  interesting. One of the things that I think
• 11:31
  people have to realize is that the dollar is not going to be
• 11:35
  worthless, that Putin said that himself.
• 11:37
  We can't go away from the dollar.
• 11:39
  It is the most important asset in global monetary trade. 87% of
• 11:44
  transactions that happen globally are interchange or
• 11:47
  denominated in dollars through interchange banks, through banks
• 11:50
  themselves or through back office settlements that they do
• 11:53
  after the fact. But the most important thing to
• 11:57
  know is that the dollar will be worth less.
• 12:00
  So the dollar will not go to zero in nominal terms.
• 12:03
  The dollar will go to zero against everything that it's
• 12:06
  measured against. When people say the dollar is
• 12:09
  going to zero, I think everybody takes that the wrong way.
• 12:11
  We're not going to get a doughnut in the dollar.
• 12:13
  It's not a crypto asset in terms of it won't be worth anything
• 12:16
  like 99% of those things. And shout out to ETH because I
• 12:19
  get a an opportunity to bash them whenever I can.
• 12:22
  You're down a trillion, like ETH is worth a trillion less than
• 12:25
  Bitcoin right now for anybody who wants to make a stupid
• 12:27
  decision and go on and on earth right now.
• 12:29
  But the most important thing is that everything denominated in
• 12:33
  the dollar will be worth less over time. the United States is
• 12:37
  backed into a corner. They lost all trust from other
• 12:40
  global reserve currencies and treasury buyers when they seized
• 12:44
  $300 billion of Russia's assets going back two years and then
• 12:48
  even threatened to fund the Ukrainian war, which is just a
• 12:51
  shadow proxy war for the United States to fight against Russia
• 12:56
  via another country in Ukraine. That's neither here nor there.
• 12:59
  They broke the trust in the United States treasury system,
• 13:01
  which was the world's free market return, safest safe haven
• 13:06
  asset that you can put your money into.
• 13:07
  And now they have nowhere else to go.
• 13:10
  That's why BRICS is being created.
• 13:12
  That's why they're doing what they're doing, not because we're
• 13:15
  here to prop up these people or say that they're great people
• 13:17
  and they're doing great things. It's because we've done this to
• 13:20
  ourselves. And largely I believe that these
• 13:23
  countries, because they are abundant in the world's
• 13:27
  universal currency, which is energy.
• 13:29
  I do believe that they are great proponents for Bitcoin as well.
• 13:33
  Hold up, hold up. Dante coming in.
• 13:38
  Absolutely killing and there's a few things that I want to touch
• 13:40
  on before we go on. There was a great comment in
• 13:42
  here and I've noticed this happening in a lot of different
• 13:46
  scenarios as well. Hold on, I'm trying to find this
• 13:48
  comment. It was by Skip on down the road
• 13:52
  and he goes bricks members seem a lot like gold bugs that they
• 13:55
  recognize the problem but not the solution, AKA Bitcoin.
• 13:58
  And this is what we're seeing happening all the time.
• 14:01
  Like, you know, a lot of the people in the world right now,
• 14:05
  they, you can kind of liken them to like dinosaurs.
• 14:08
  They, they see there's a problem, but they're just
• 14:10
  redoing the same, the same steps that they've done before instead
• 14:13
  of trying to branch out to something new.
• 14:15
  And obviously we would argue that that new technology is
• 14:18
  Bitcoin. And this is where we are right
• 14:20
  now. The, the asymmetry of
• 14:22
  understanding Bitcoin hasn't fully distributed around the
• 14:25
  world. Yes, you guys are early here.
• 14:27
  We've understood Bitcoin, we understand the impact of what
• 14:30
  Bitcoin is. And there's still an uphill
• 14:31
  battle here because there's still a lot of education that
• 14:34
  has to be done to kind of get more people to adopt Bitcoin
• 14:37
  because that's the most important thing here period, is
• 14:40
  getting more people to hold Bitcoin, to get more people to
• 14:43
  see the light, get more people understanding what is actually
• 14:46
  at stake and how you know how, how we're cheatering, on the
• 14:50
  verge of maybe a total global Fiat collapse.
• 14:54
  The Fiat apocalypse might be upon us, but you're seeing that
• 14:58
  the problems are being talked about, but not enough talk has
• 15:02
  been happening in regards regards to the solution.
• 15:04
  And that's why we're here. And This is why all you
• 15:06
  Bitcoiners out there are actually doing the work of
• 15:09
  trying to spread people or spread the adoption of Bitcoin
• 15:11
  and get people on to the Bitcoin standard, or rather the personal
• 15:15
  Bitcoin standard. But it is absolutely amazing
• 15:17
  what you said, Dante, about like the trust has been eroded.
• 15:21
  I think trust and institutions are, I don't know, I don't have
• 15:25
  the data here, so I'm spitballing, but it seems at
• 15:27
  least just that the trust and institutions are at the lowest
• 15:31
  they've probably ever been. I don't know if much
• 15:33
  historically accurate, but it does feel like that minimizing
• 15:37
  trust in these institutions is crumbling.
• 15:40
  And that's, I think part of what we've been talking about.
• 15:43
  Just they've weaponized the dollar and people are looking
• 15:46
  for alternatives and more people are going to wake up to the
• 15:48
  Bitcoin standard anyways. Let's get into.
• 15:51
  The show because we do have a lot for you guys, but before.
• 15:54
  We move on guys like share, subscribe there's over 1000 of
• 15:57
  you guys watching on YouTube and Twitter right now make sure you
• 16:01
  smash the like comment the like button and comment on the on the
• 16:04
  show. Let's see what you guys think
• 16:05
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  OK guys, let's get into the numbers.
• 18:22
  We'll go over the numbers real quick before we cover some more
• 18:25
  news. Of course, I'm over here on
• 18:27
  Clark Moody's Bitcoin dashboard and the current price is 60.
• 18:30
  7500 and. 60 so it looks like climbing back up we're we're
• 18:36
  we're consolidating a little bit hopefully soon we'll break up
• 18:40
  past the 70K mark. I think yesterday we said 77 was
• 18:43
  the new all time high adjusted via inflation.
• 18:46
  So we're almost there. Anyways, the stats per dollar,
• 18:48
  AKA how much the dollar is worth in Bitcoin, AKA how much Bitcoin
• 18:52
  you can buy for a single dollar is currently at 1480 stats per
• 18:56
  dollar or 148 bits for the bits maxi in the batch.
• 18:59
  I think that conversation is going to come back soon.
• 19:01
  And the current block height, which might be the most
• 19:03
  important number in Bitcoin. Yes, we all love the price, but
• 19:06
  TikTok next block, this number shows that Bitcoin is working
• 19:09
  exactly as designed we're at block height of 867,167.
• 19:14
  The current market cap and Fiat terms is $1.34 trillion.
• 19:19
  And the Bitcoin versus gold market cap, so much room to run
• 19:21
  in the hard money game. We are only at 6.96% of gold's
• 19:25
  market cap. Soon we will get to 100.
• 19:28
  Soon enough we'll get there. And the total money supply, the
• 19:31
  total issuance of all Bitcoin that will ever be created is
• 19:34
  currently at 94.15%, at 19,000,700 and to 2180.49 BTC.
• 19:43
  All right. Well, Dante mentioned something.
• 19:45
  Earlier. We will get a.
• 19:47
  Chance to dunk on Ethereum again.
• 19:48
  I'm glad you brought that up. We are going to be talking about
• 19:52
  ETS for a little bit. I know the ETF conversation has
• 19:56
  been kind of beaten to a pulp. I guess.
• 19:58
  I guess I'll say at this point metaphorically, because Nikko's
• 20:00
  not here, but I'm sure a lot of his Bitcoiners are tired.
• 20:03
  Obviously here at Simply Bitcoin, we are spot Bitcoin
• 20:06
  Maxis. We think you guys should be.
• 20:08
  Buying Bitcoin directly, you don't need to buy the paper
• 20:11
  Bitcoin. But I get it.
• 20:12
  If you are in Tradfi, you got your money locked up in the
• 20:15
  Tradfi instruments, then maybe you want to get some Bitcoin
• 20:19
  exposure. So do with that information as
• 20:21
  you will, but covering the ETFs again.
• 20:24
  It is undoubtedly. The best ETF launch ever,
• 20:29
  literally ever. And here we got some numbers.
• 20:32
  So this was tweeted out by Nate Karachi, president at ETF store.
• 20:37
  And of course you know he's covering the ETF.
• 20:39
  So 575 ETFs have now launched in 2024 and 14 of the top 30 by
• 20:46
  inflow inflows are either spot Bitcoin or a shit coin ETF that
• 20:51
  will not be named except when we dunk on it includes 6 of the top
• 20:55
  ten. And there are also 2 master
• 20:57
  related ETFs in the top 30. So this is probably the point
• 21:00
  that we constantly keep stressing that.
• 21:02
  And we're gonna say Bitcoin appetite, Bitcoin appetite from
• 21:05
  Tradfi is real again. We've been joking all year long.
• 21:09
  Don't sell your Bitcoin 'cause you're selling your Bitcoin to
• 21:11
  Larry Fink or Michael Saylor. And and now you're starting to
• 21:16
  see that it's catching on. We're seeing more big names come
• 21:18
  out and say that they have only Bitcoin exposure, that you need
• 21:21
  some Bitcoin exposure. I think we started the year at
• 21:24
  like when the ETF came out like maybe you should have 1%.
• 21:27
  Now the conversation is like, you probably should have like 5
• 21:29
  to 10%. We'll soon enough get to the
• 21:31
  point where we're like, you need to go all in.
• 21:33
  You need to go all in on Bitcoin.
• 21:36
  Anyways, going further on this, Eric Balkunis, of course, he
• 21:39
  works at Bloomberg, right? Yep, analyst.
• 21:42
  Senior ETF analyst at Bloomberg, he goes.
• 21:44
  Great. Stats never.
• 21:45
  He's just too amazed. I'll go one step further in the
• 21:48
  last four years, 1800 ETS have launched and I bid of course the
• 21:52
  Black Rock ETF is the most successful of all of them at $26
• 21:56
  billion. And then this morning Eric comes
• 22:00
  back on Twitter and he goes, we have this tweet here.
• 22:03
  Actually, we'll go here 1st and goes Sean goes yet another big
• 22:07
  day for BlackRock spot Bitcoin ETF now almost through 400,000
• 22:11
  BTC under management liquidation heatmap showing strong potential
• 22:16
  upside. Get some and get yours while you
• 22:18
  still can. Of course, it's showing some of
• 22:20
  the Bitcoin holders here and BlackRock is is it's coming.
• 22:25
  You know, it's, it's going for the top spot.
• 22:27
  Can they flipping Satoshi out there?
• 22:30
  That's the real flipping that we're going.
• 22:32
  Going to see and going further, you know, US spot Bitcoin ETF,
• 22:35
  which is just covered. BlackRock is basically the
• 22:37
  biggest one. It's dwarf grayscale, which had
• 22:40
  the head the head start out there.
• 22:42
  And it seems like all the money is rotating out of grayscale and
• 22:45
  into BlackRock. So soon enough, once we start to
• 22:48
  see that more people catch on to the Bitcoin Bitcoin ETF, it
• 22:53
  won't just be the rotation of money from, you know, grayscale
• 22:56
  into BlackRock. I think we're going to see a new
• 22:59
  unlock of liquidity going into Bitcoin.
• 23:01
  All right, now go on back to this tweet by Eric Balkunas and
• 23:04
  he goes not yet 10 months old. And the ETFs are 97% of the way
• 23:09
  to holding 1,000,000 Bitcoin and 87% of the way to passing
• 23:13
  Satoshi as the biggest holder. I'll be presenting on this at
• 23:16
  Logano. And if you're going to say going
• 23:19
  to come, say hi. So it just goes to show that
• 23:23
  Tradfly is loving Bitcoin. We've hit the mainstage.
• 23:27
  Not only are we in the political discussion, not only are we
• 23:30
  getting, you know, the nod from traditional financial asset
• 23:35
  managers, we have entered the mainstage and the ETF now is
• 23:39
  most likely, I think undoubtedly the best ETF ever.
• 23:43
  And I think this is only going to increase, which just goes to
• 23:46
  show that there is an and very obvious need and want for
• 23:51
  Bitcoin. And of course, that's the first
• 23:54
  step, get Bitcoin exposure. The next step is hopefully some
• 23:57
  of these people start to actually hold Bitcoin directly.
• 24:00
  But we know how the traditional financial world works.
• 24:04
  It's very hard for them to get that trad by capital into
• 24:07
  Bitcoin, of course. But it just goes to show that
• 24:11
  you know, Wall Street has an appetite for Bitcoin.
• 24:14
  So shouts out to every single one of you guys out there,
• 24:17
  hashtag front Rand Wall Street. It's only matter of time until
• 24:21
  Wall Street starts working for us and starts pumping our bags.
• 24:24
  So, you know, there's a trade off here, yes.
• 24:26
  There's an interest in Bitcoin Yes number is going to go up.
• 24:29
  There is and should be a very real concern about how much
• 24:33
  Bitcoin goes into these ETF considering that you know, I
• 24:37
  know it's what what we get called yesterday.
• 24:39
  Paranoid crypto anarchist are concerned about a six 102 order.
• 24:44
  Personally think of all this ETF Bitcoin as the government's
• 24:46
  Bitcoin, but hey, you know I'm, I'm just a paranoid crypto
• 24:49
  anarchist over here but it's just it just goes to show that
• 24:53
  the interest in Bitcoin is growing and man it it's been
• 24:57
  pretty crazy to see how quickly Wall Street and the
• 25:01
  institutional. Capitals of the world are
• 25:03
  adopting Bitcoin Jump. In.
• 25:04
  So, so here's so that I saw stat this morning, 47% of all
• 25:09
  traditional hedge funds now hold Bitcoin.
• 25:12
  And most of that's going to be through ETFs and it's 15 of the
• 25:16
  top 25 hedge funds in the world now on Bitcoin.
• 25:20
  And I think the thing that's most critical for people to
• 25:22
  know, a lot of people don't know, Larry Fink started out at
• 25:25
  this bank way back in the day, I think it was called First Bank
• 25:28
  or First Boston Bank. And he was one of the original
• 25:30
  creators of mortgage-backed securities.
• 25:32
  This is like 1987 or 19861987. He blew up the fund.
• 25:38
  They lost, you know, $100 million.
• 25:40
  They were getting ready to fire him.
• 25:41
  He was depressed, down on his luck.
• 25:43
  Steve Schwarzman, a couple guys from Blackstone who actually
• 25:46
  spun out Black Rock, said that, hey, you're one of the most
• 25:48
  talented guys on Wall Street. You're 35 years old, we're going
• 25:51
  to give you a shot. They gave him a $5,000,000 loan.
• 25:54
  The dude only took out $150,000 on that $5,000,000 loan to start
• 25:58
  Black Rock. They went from like a couple
• 26:00
  $100 million in assets under management to like a billion in
• 26:03
  less than a few years. And then they got up to a
• 26:06
  trillion in 2000 when they went public.
• 26:08
  So Larry Fink was the creator of mortgage-backed securities and
• 26:12
  then in the early, late 90s, he was one of the first people to
• 26:16
  adopt ETF. So this guy is a market maker
• 26:19
  through and through. Everybody asks why he has so
• 26:21
  much influence on the world. He's by most in all accounts in
• 26:25
  the Wall Street world, doesn't mean a whole lot in the real
• 26:28
  world, but one of the most talented people in that that
• 26:30
  field and in that sphere. In 2020, so much so the United
• 26:33
  States government called Larry Fink in order to help them think
• 26:36
  about restructuring their bonds and their bond duration
• 26:39
  portfolio. So literally, Larry Fink is the
• 26:42
  king of finance. So when he came out and when he
• 26:44
  flipped in 2022 to start to kind of change his tone on Bitcoin
• 26:48
  from an absolute Ponzi scheme all the way into launching the
• 26:51
  ETF, you knew that it was big. That was your time to buy.
• 26:55
  And so like, honestly, it, it is what it is.
• 26:59
  A lot of people get so caught up on whether you know, it's
• 27:03
  Michael Saylor. Now that's a whole big debate.
• 27:05
  Like everybody loves Michael Saylor when he's pumping their
• 27:07
  bags and the micro strategy flywheel is pumping.
• 27:09
  They issue more convertible bonds or more stock in order to
• 27:12
  buy more Bitcoin, which pumps their price.
• 27:14
  Everybody loves Michael Saylor. Then then he talks about
• 27:17
  financial products or Bitcoin yield is how they're kind of
• 27:21
  determining their cash on cash or the return that they get on
• 27:23
  their Bitcoin. And then you know, like Al
• 27:26
  Schlischmann and River comes out with a Bitcoin yield product and
• 27:29
  everybody loves it. Like Long story short, like
• 27:33
  Bitcoin is universal for everybody.
• 27:35
  Now there are levels to this. There is no second best.
• 27:37
  So in terms of Bitcoin versus other ETFs, there is no second
• 27:40
  best. The Bitcoin ETF is the best
• 27:43
  Bitcoin ETS versus real Bitcoin. There is no second best.
• 27:46
  There is only the right thing, which is buying real Bitcoin.
• 27:49
  And so I do believe, like everyone says, Blackrock's
• 27:51
  buying this, Blackrock's buying it in a trust on behalf of their
• 27:54
  shareholders. Now, is there a honeypot risk?
• 27:57
  Is there concentration risk? Is there a risk that the United
• 28:00
  States government will not be able to pay their unfunded
• 28:03
  liabilities or all of their Medicare, their Social Security?
• 28:06
  We all know that those things aren't true.
• 28:08
  Is your pot of Bitcoin in an ETF through a government at risk?
• 28:12
  In that scenario, absolutely. Seizure and confiscation is not
• 28:15
  realistic. Lynn Alden actually had a
• 28:17
  nostril post recently saying that seizure and.
• 28:20
  Confiscation in a digital era like is not realistic at all.
• 28:24
  But what is realistic is taxing or confiscating through products
• 28:28
  and retirement portfolios because the only thing that
• 28:31
  actually gives your financial or retirement portfolio the tax
• 28:36
  free advantage is because the government says so, not because
• 28:39
  the asset held in a 401K versus a Roth IRA versus you personally
• 28:43
  is any different. It's no different.
• 28:46
  It's just what the government tells you about that thing and
• 28:48
  whether you're going to have to pay taxes on it.
• 28:50
  So for me, like I always say, hold it personally, like there's
• 28:53
  no question about that. But like.
• 28:55
  It are. Is Wall Street going to get into
• 28:57
  it? Yes.
• 28:58
  Are mortgage-backed securities a thing?
• 29:00
  Yes. Will there be bubbles that get
• 29:02
  created on top of Bitcoin back products?
• 29:05
  Absolutely. But what does that represent for
• 29:07
  you? An opportunity to buy.
• 29:10
  The richest people in America right now are the people who
• 29:12
  bought real estate in 2009 and 2010.
• 29:16
  The bubble is what created the opportunity for wealth in real
• 29:19
  estate, not the other way around.
• 29:22
  And so people say that this is a bad thing.
• 29:23
  If you have a long term view and a long term perspective, keep
• 29:27
  buying. Buy the real thing.
• 29:28
  There is no second best. That's kind of my thoughts on
• 29:30
  it. It's going to happen, Larry
• 29:31
  thinks. A market creator.
• 29:32
  He's the best in the world. No, no surprise that it's the
• 29:35
  most successful product of all time.
• 29:37
  You even hear it in their earnings reports.
• 29:39
  It's driving the majority of Black Rocks profits in their
• 29:43
  assets under management and so not a surprise.
• 29:46
  Will will keep happening and yeah, glad that we have guys
• 29:50
  like Michael Michael Saylor, Michael Michael Strategy Micro
• 29:54
  Sailor, however you want to say it on.
• 29:56
  Board, because if we didn't. We'd have guys like Jamie Dimon,
• 30:00
  so pick your poison. Let's go.
• 30:04
  Hold on. Everyone in the chat says Don,
• 30:05
  let's go. Anyways, we are going to be
• 30:09
  talking about taxes in in the news.
• 30:11
  We do have a a recent development on taxes.
• 30:14
  So I'm glad you brought that up because that is going to be the
• 30:16
  news story today. But before we do that, Dante,
• 30:18
  before I forget, I'm going to give you the floor so we can
• 30:21
  cook Ethereum a little bit. So I saw this tweet here
• 30:24
  yesterday from Thomas Throwlight and he goes, Bitcoin is worth a
• 30:28
  trillion dollars more than Ethereum.
• 30:30
  And you can check a coin market cap here.
• 30:32
  Because of course in that ETF news that they were kind of
• 30:35
  bundling the ETF with the Bitcoin ETF.
• 30:38
  Of course, there's no second best.
• 30:39
  It's it's Bitcoin and everything else is a shit coin.
• 30:42
  But it is actually kind of crazy that Bitcoin now is worth a
• 30:45
  trillion dollars more than ETH. Whatever happened to the the
• 30:49
  flipping here? It's not eats what's going to
• 30:51
  take over the world. So Dante, I'm going to give you
• 30:53
  this moment. You want to cook eats a little
• 30:55
  bit. Maybe this dissuade someone from
• 30:58
  buying this trash coin known as Etherium.
• 31:04
  That's my sailor side. So.
• 31:07
  So look, the last time we've heard from Vitalik was him
• 31:12
  getting commented through these articles 2 days ago about him,
• 31:16
  him making a comment about Michael Saylor saying that you
• 31:19
  know, Bitcoin held in institutions a terrible
• 31:21
  strategy. That's been your entire strategy
• 31:24
  from the beginning was literally to Co opt Ethereum with the guys
• 31:30
  at JP Morgan and Web 3 and Metamask in order for
• 31:34
  governments to create their own privatized block chains.
• 31:37
  That's literally been your path from the very beginning.
• 31:39
  So proof of stake, proof of trash there.
• 31:42
  There's no no value in here that it's inherently not valuable.
• 31:46
  All of the people that were riding on the backs of crypto
• 31:49
  ETFs have been absolutely killed.
• 31:50
  You haven't heard anything in the media about the ETFs
• 31:54
  because? They're they're not existed.
• 31:57
  They're not worthy to even be talked about.
• 32:00
  Like there's no second best in all asset classes.
• 32:03
  ETH is no, no, no. I guess no different than
• 32:07
  anything else. The world Computer the the
• 32:10
  Worldwide Compute Network that would allow you to earn a yield
• 32:13
  via staking your assets. The dumbest thing that I've ever
• 32:17
  heard. And so now it's just kind of
• 32:19
  coming back out like it's coming full circle.
• 32:22
  We only hear about Vitalik when he's talking about Bitcoin these
• 32:25
  days because no one's talking about Ethereum.
• 32:27
  Nobody cares. I hope it continues to get
• 32:30
  buried. The the ratio is like .3, I
• 32:33
  don't know, 3-6 or three, three. I think we'll see below a .3
• 32:37
  ratio of Bitcoin to ETH in this next bull cycle and it's not
• 32:41
  coming back. Let's go well, you know we we
• 32:44
  don't do it enough here and shit on Ethereum because we are just
• 32:49
  Bitcoin focused but absolutely love it.
• 32:53
  I also can't help but throw an opportunity to to spread the
• 32:57
  signal that it's Bitcoin only This is why we're simply
• 33:00
  Bitcoin. This is why everything we tell
• 33:02
  you is to just buy some Bitcoin, hold it long term, take it in
• 33:06
  the cold storage, run a node. This is how you win guys keep it
• 33:09
  simple. Do not gamble in the shit coin
• 33:11
  casino and I think. I think, you know, the market
• 33:14
  speaking for itself, people do not want to hold Ethereum.
• 33:17
  Yes, they got their ETF, like you said, because of maybe their
• 33:20
  connections with Wall Street. And that's probably why they got
• 33:23
  that approved, even though Gary Ginza for a long time was
• 33:26
  saying, hey, wait. Isn't this a security?
• 33:28
  But hey, you know, they're going to play some trickery out there
• 33:31
  and do some favoritism. But that's that's a whole other
• 33:33
  story. Let's get into the news story
• 33:35
  because we do have a very interesting news story today
• 33:39
  coming out of Denmark. And it is a threat, you know, a
• 33:42
  theme. We've been talking about here on
• 33:44
  the show for a long time about as Bitcoin starts to completely
• 33:49
  win and get out of the race, countries are going to start to
• 33:52
  try to clamp down and do capital controls.
• 33:54
  And we did talk about that Lynn Alden post the other day and
• 33:58
  maybe maybe I should find it real quick and we can talk about
• 34:00
  it while I cover the news. All right, let's.
• 34:02
  Let's get into it guys. So.
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  your Bitcoin the right way. All right guys, as I was telling
• 36:22
  you actually maybe let me full screen this or no no, I'll cover
• 36:26
  it in there's a there's a note here.
• 36:27
  So we've been covering this theme on the show for a long
• 36:30
  time. Remember last week we had the
• 36:32
  talk from Italy proposing capital gains tax, raising the
• 36:35
  capital gains tax from, I believe 26.
• 36:37
  To 42. Percent, we also saw Kamala this
• 36:41
  year or the Biden administration come out and say that they're
• 36:43
  proposing a 25% capital gains tax on just Bitcoin itself and
• 36:49
  and now we're seeing that in Denmark, they are proposing a
• 36:52
  bill to tax unrealized cryptocurrency capital gains tax
• 36:58
  next year. So I am over here on no BS
• 37:00
  Bitcoin. I will.
• 37:01
  Jump to the source for a little bit, but just kind of doing the
• 37:04
  TLDR here. This new bill is expected to
• 37:07
  present it to the Danish parliament in early 2025, with
• 37:10
  the country's Tax Law Council recommending that the rules
• 37:13
  should not be implemented before January 1st 2026.
• 37:17
  At the earliest, so the Danish. History of taxation recommends
• 37:20
  taxing unrealized gains and losses on cryptocurrency assets
• 37:24
  in the same way it taxes stocks and bonds.
• 37:26
  You know recommend they drop the 93 page report talking about
• 37:29
  this. So let me let me go to the
• 37:31
  source here. I'm on Atlas 21 kind of jumping
• 37:34
  jumping in giving it a little more context.
• 37:36
  So again, headline Denmark proposal for taxation on
• 37:39
  unrealized cryptocurrency gains. The Danish tax proposal on
• 37:43
  unrealized crypto gains. The goal is to implement new
• 37:45
  regulations by 2026. The Danish Tax Council has
• 37:49
  recently suggested the introduction of a bill to tax
• 37:53
  unrealized gains and losses related to quote digital assets
• 37:56
  and the details of the council reports.
• 37:58
  In a 93 page report on the tax regime applicable to crypto
• 38:02
  currencies, the council examined 3 potential methodologies for
• 38:05
  taxing digital assets, a capital gain taxation, a warehouse
• 38:09
  taxation and an inventory taxation, and the report
• 38:12
  proposes a uniform approach to the taxation of digital assets
• 38:16
  valid in all contexts. Danish Tax Minister Ross miss
• 38:19
  Stockland Stockland emphasized the need for a clearer rules to
• 38:23
  avoid unfair taxation under the current regime.
• 38:26
  Sounds like an oxymoron unfair taxation, but clearer rules and
• 38:30
  you're going to tax unrealized, you know, gains cap gains on
• 38:34
  just Bitcoin or digital assets. Interesting all right so the
• 38:37
  preference is for this inventory model.
• 38:39
  Among the alternatives discussed, the report leans
• 38:41
  towards the quote inventory inventory taxation model.
• 38:45
  This model stipulates that the entire cryptocurrency wallet is
• 38:48
  considered a single inventory tax on an annual basis at a
• 38:52
  specific date, regardless of the sale of the assets.
• 38:56
  In a similar scenario, digital assets would be treated like
• 38:58
  other financial instruments such as stocks and bonds, taxing both
• 39:02
  unrealized gains and losses. And detail regarding the
• 39:05
  retroactive application of the tax rules for current wallets
• 39:08
  remains unspecified. Some additional proposals
• 39:11
  suggest that service providers for digital assets.
• 39:14
  Excuse me, such as exchanges or cryptocurrency payment companies
• 39:18
  should collect and share data on customer transactions.
• 39:21
  This information could support collaboration amongst European
• 39:24
  Union countries on tax matters. Of course, the timeline is no
• 39:28
  earlier than 2025, may be implemented by January 1st of
• 39:32
  2026. And I think this is the context
• 39:35
  that we've been talking about. We've been covering it on the
• 39:37
  show, the international contacts.
• 39:40
  So the Danish proposal fits into a growing international mosaic
• 39:44
  of tax regulations for crypto currencies.
• 39:47
  In the United States, for example, a 25% tax on unsold
• 39:50
  assets has been proposed by presidential candidate Kamala
• 39:54
  Harris. At the same time, Italy is
• 39:56
  considering an increase in taxes on capital gains for holders of
• 39:59
  Bitcoin and digital assets, raising it from 26 to 42% by
• 40:04
  2025. Which is, I think, just more
• 40:08
  signal to what we've been saying.
• 40:10
  Remember, of course, Chrissy Lagarde's been going out there
• 40:13
  for years basically saying that. If there is an escape patch, if
• 40:18
  there is an escape boat that we have to stop it.
• 40:21
  Of course, they want you to stay having fun being poor.
• 40:25
  They want you to keep you into the system.
• 40:27
  And they are doing whatever they can to incentivize you with, you
• 40:30
  know, fear of violence and fines to ensure that you cannot start
• 40:36
  to prosper, that you can't increase your purchasing power
• 40:39
  by holding Bitcoin. So I think this is, I wouldn't
• 40:42
  say the last gasp of a dying Fiat system, but you can tell
• 40:45
  that they're they're afraid, especially when you kind of link
• 40:47
  that with the ECB report about, you know, how they can control
• 40:52
  Bitcoin. We saw the Fed do another report
• 40:54
  about maybe the best way. If Bitcoin wins, you know, we
• 40:57
  should tax it. So now I think we've gotten to
• 41:00
  obviously that then they fight you stage.
• 41:02
  Where at first? They're like, let's ignore them.
• 41:05
  Remember Neel Kashkari just came out and said, oh, Bitcoin is
• 41:08
  worthless. And then literally in the same
• 41:10
  week, he's like, well, maybe if it's worthless, we should still
• 41:14
  tax them. This is how we can control it.
• 41:16
  So which one is it? Is it worthless or do you want
• 41:18
  to tax us? But I think the theme remains
• 41:21
  the same that there is. And if you connect this with
• 41:24
  what's going on in the BRICS Summit, there is an active
• 41:28
  narrative or an active appreciation, an active move
• 41:32
  towards people escaping Fiat currencies.
• 41:35
  If you are not as well entrenched in economics and
• 41:38
  traditional financial world and macroeconomics at large, you
• 41:41
  know, you may not understand what's going on, but it's all
• 41:44
  remaining the same. People.
• 41:45
  People are realizing there's a problem with Fiat currencies.
• 41:47
  People are realizing that maybe I don't want to hold paper debt
• 41:50
  as my money right now. Maybe there's an alternative.
• 41:54
  What is that alternative? Obviously we think it's Bitcoin
• 41:57
  and especially when you connect this with what we saw.
• 42:00
  All. Of this year 2024 with Operation
• 42:03
  Choke .2 point O you're seeing that the powers that be the the
• 42:07
  elites, if you will I, I don't like using that word, but you're
• 42:10
  seeing that they are panicking out there and they want to
• 42:13
  ensure that the sheep cattle stay in their system where they
• 42:18
  can tax you, where you know they can shut you off from the system
• 42:22
  where they can debank you, where they can stop transactions and
• 42:25
  hopefully moving you you toward a dystopian CBDC digital
• 42:29
  currency system. We all know that's the play.
• 42:32
  We've been covering it all year long, but it is very interesting
• 42:36
  that countries around the world are ramping up their control
• 42:40
  mechanisms from capital flight. And this is what we're.
• 42:43
  Seeing, I think we're going to see more of this plan out not
• 42:45
  only the end of this year, but moving into the future that as
• 42:49
  people find the need to wake up and start to save in Bitcoin,
• 42:53
  the powers that be, those in control, obviously trying to
• 42:56
  maintain their power are going to do whatever they can to stop
• 42:59
  people from moving into Bitcoin. And obviously taxing us out of
• 43:03
  existence on our unrealized gains is absolutely ludicrous
• 43:07
  and definitely a way to ensure that you can't maintain your
• 43:11
  purchasing power. And Dante, you jump in on this
• 43:13
  and then I'm going to pull up the the Lynn Alden tweet.
• 43:16
  So maybe if you want to reference that as well.
• 43:18
  But what's your thoughts? First of all, what's your
• 43:20
  initial knee jerk reaction to this Denmark proposal of taxing
• 43:25
  unrealized gains on just digital assets or, you know, Bitcoin and
• 43:29
  crypto? Well, I'm going to go ahead and
• 43:33
  caveat my whole thinking on Denmark is what I call the
• 43:36
  Denmark discount. Like I'm a discount anything
• 43:39
  that's coming out of Denmark because the whole, the whole
• 43:41
  economy is propped up on fraud and stuff that doesn't actually
• 43:44
  work. So fraud number one, I think
• 43:47
  they're the largest exporter in the world of wind and turbine
• 43:50
  energy. Which we all know is just so
• 43:53
  much of a fraud, right? We talk about ESG and how it's
• 43:55
  going to be sustainable for the environment.
• 43:57
  And then you drive by like any field on your way up to Chicago,
• 44:00
  and you see about a billion dead birds in the middle of the
• 44:02
  field. And all the concrete that's
• 44:04
  there, right, is a sustainable and ESG positive for you.
• 44:08
  You can't use it right in the grid directly.
• 44:10
  Battery storage isn't good enough.
• 44:11
  But like a lot of their economies built up on wind and
• 44:14
  turbine energy fraud #1 fraud #2 Novo Nordisk, it's like their
• 44:19
  poster child, right? Which we know has been coming
• 44:23
  out with fraudulent drugs, right?
• 44:25
  We we don't need to go down that whole, that whole rabbit hole
• 44:28
  there. But yeah, that's that's Denmark.
• 44:31
  And you know, the last time they were relevant in a sports
• 44:33
  perspective, I think they had two guys in the Tour de France.
• 44:35
  I will give them this. That they did that did win, but
• 44:38
  we don't know. The Tour de France is full of
• 44:39
  cheaters. So if you ain't cheating, you
• 44:42
  ain't trying in the Tour de France.
• 44:44
  And then I think they had a guy win the world championship in
• 44:47
  badminton in like 2020. So overall, I'm applying the
• 44:51
  Denmark discount to this. But what you saw with Norway is
• 44:55
  they wanted to impose a wealth tax on the wealthiest people in
• 44:59
  their country. And what ended up happening,
• 45:02
  they thought that they would generate like another like 140,
• 45:05
  you know, million in revenue. But literally five $54 billion
• 45:09
  worth of net worth and revenue left the country.
• 45:13
  And so they end up getting tax losses of like $500 million when
• 45:17
  they thought that they. Were going to generate revenue.
• 45:19
  So literally this never works. It's one of the dumbest policies
• 45:24
  that you can enact. I do it to my kids though all
• 45:26
  the time. I'm not going to lie.
• 45:27
  I'm like Denmark, Daddy, if you, if you want me to put, put it
• 45:30
  out there, I'll be imposing taxes on stuff that they
• 45:33
  thinking about doing. Like that's what this is like.
• 45:37
  I'm going to tax this thing that hasn't even happened yet.
• 45:41
  Like go outside if you want to without shoes on.
• 45:44
  I'm already going to put some marbles in the floor just so
• 45:47
  your feet feel the fire of going outside.
• 45:50
  And you might think about going outside without putting shoes on
• 45:52
  instead of dragging this dirt through the house.
• 45:54
  So I call it the Denmark discount.
• 45:56
  It's a nothing burger to me. It's a stupid policy.
• 46:00
  More wealth is going to leave the country then it's going to
• 46:02
  come into the country. And all of these wealthy
• 46:05
  pharmaceutical holders in Novo Nordisk and in all of these
• 46:09
  different industries are just going to put their assets in
• 46:12
  other countries. They're going to put them in
• 46:13
  Swiss banks. They're going to.
• 46:14
  Put them in in Bitcoin or more Bitcoin friendly jurisdictions
• 46:18
  because it's an asset class whether you like it or not that
• 46:22
  people want to invest into and so either you can get with it.
• 46:26
  Or you can exclude yourself from the gains that are going to come
• 46:29
  from it. But either way you lose.
• 46:32
  If you try to ban it, you just ban yourself from the
• 46:35
  opportunities that come from it. So Denmark is another, you know,
• 46:39
  example. In this case, more wealth is
• 46:41
  going to leave Denmark then it's going to stay there.
• 46:43
  And I don't really take them seriously to be honest.
• 46:48
  Yeah, it really does sound like, you know, it's a proposal.
• 46:50
  And even if they do try to implement it, like not even
• 46:53
  getting into all the details and the technicalities of of this
• 46:56
  playing out like it, it feels like they're going to abandon
• 47:00
  this. Hopefully there's enough
• 47:01
  backlash where if people in Denmark are, you know, not just
• 47:04
  sleepwalking into their own gilded cage and they're like,
• 47:07
  no, this is not a good idea. Like, what are you saying?
• 47:11
  And especially when you kind of think about like these
• 47:15
  unrealized capital gains tax are being caused because they are
• 47:18
  debasing the Fiat currency. And then there's even like, you
• 47:21
  know, if, if this does spread like unrealized capital gains
• 47:25
  tax, say on your house or something, they're going to be
• 47:28
  so incentivized to just start confiscating people's assets
• 47:32
  because the dollar or any Fiat local currency is just getting
• 47:36
  destroyed right now. So basically everyone is going
• 47:39
  to have unrealized capital gains taxes on everything they own.
• 47:44
  You know, I hate using the term slippery slope, but this is this
• 47:47
  is one of those things where if you don't understand how the
• 47:50
  Fiat system works, it's like it makes no sense when you view it
• 47:54
  from a Bitcoin perspective. But Dante, I am going to bring
• 47:58
  up Lynn Alden's note here because we did cover it
• 48:00
  yesterday, but I think it is fitting that we cover it today.
• 48:03
  So yesterday we covered this in regards to Sailor talking about
• 48:07
  self custody, which we cleared up during the show.
• 48:10
  Of course, this is talking about the six one O 2 order and gold
• 48:13
  confiscation. And I think the point here is at
• 48:17
  the very end that the government's now can track or
• 48:21
  can governments today track Bitcoin in the twenty 20s better
• 48:24
  or worse than gold in 1930s for enforcement purposes?
• 48:28
  That's the right question. And don't just think of this in
• 48:31
  confiscation terms. Think of 70% selective taxes and
• 48:35
  things like that. Far more within the current rule
• 48:37
  of law that sophisticated approach.
• 48:39
  Don't take it selectively, tax it by a lot.
• 48:42
  This is probably. Where we're going and these are
• 48:45
  the politics that we're seeing even being, you know, talked
• 48:48
  about is now, you know, there it has been a lot of talk in
• 48:51
  Bitcoin circles. We are all paranoid here and
• 48:54
  we're wondering like, OK, when is the 61O2 coming down from the
• 48:57
  pipeline? Because we know that they want
• 48:59
  to ban Bitcoin, we know they don't like Bitcoin.
• 49:02
  But I think kind of what Dante was saying and what Lid Alden is
• 49:05
  saying and what we're even seeing from Denmark, from Italy,
• 49:08
  we've seen this rolled out from the Harrison Biden
• 49:10
  administration that they aren't actively or outright attacking
• 49:15
  Bitcoin at this point. They're trying to choke the on
• 49:17
  and off ramps. Of course, choke point 2.0.
• 49:20
  Now they're kind of just floating these ideas of just,
• 49:22
  hey, you know, we don't hate Bitcoin, but you need to pay
• 49:25
  your fair share and we're going to tax you on just your Bitcoin
• 49:28
  at whatever X rate. And hey, maybe we tax you on
• 49:31
  your unrealized gains here and maybe this is how we control
• 49:36
  Bitcoin and you're seeing all of this being flowed out.
• 49:39
  And obviously as Bitcoiners, you can argue about the
• 49:42
  technicalities of how they're even going to do that and how,
• 49:45
  you know, do they even have the manpower and the money to go to
• 49:48
  door to door and, you know, figure out where all.
• 49:51
  These boating accidents were and etcetera, etcetera, etcetera.
• 49:55
  But it is interesting that they are talking about this.
• 49:57
  So I think very prescient from Lynn Alden being like this is
• 50:00
  where the real ball is going and that's where we should keep our
• 50:03
  eye on. Not so much that they're just
• 50:04
  going to outright, you know, ban Bitcoin, try to confiscate our
• 50:07
  Bitcoin. They're probably going to try to
• 50:09
  tax us out of existence. And you, you know, we can talk
• 50:12
  about that all day long here. But yeah, jump in, Dante.
• 50:15
  Well, like like Christian Lagarbage or Lagarde ETB
• 50:21
  president, you know, said this thing about well, you know, we
• 50:25
  need to, we need to tax Bitcoin holders because you know, the
• 50:28
  more that those people that were in at the beginning, you know,
• 50:31
  the more revenue that they more, the more gains that they have.
• 50:33
  Like we, we we need to tax in their fair share.
• 50:36
  If you look at this chart of gold, like be before 1971,
• 50:41
  right, we were at like, I don't know, $29.00 an ounce around,
• 50:44
  you know, Franklin Delano Roosevelt and then obviously
• 50:46
  $35.00 an ounce after 1945. And then we kind of stayed at
• 50:50
  that level a little bit more to that level up until Bretton
• 50:52
  Woods in 1971. And then the chart just goes
• 50:55
  parabolic, like hundred $200.00 an ounce, $300.00 an ounce.
• 51:00
  You know, in the 80s, you know, you got the $700.00 an ounce
• 51:02
  went to $1400.00 an ounce. Anyways, lo and behold, they
• 51:06
  didn't impose a tax on people who got into gold early, right?
• 51:11
  There were no special taxes on the people who invested into
• 51:15
  Amazon early or Microsoft early. If you look at any asset class,
• 51:20
  there are people who disproportionately gain from
• 51:22
  getting in earlier. That is one of the fundamental
• 51:25
  concepts of capitalism. And for the United States that
• 51:29
  is inconsistent because if they were to do that right, the value
• 51:33
  of their own treasury holdings that they still have valued at
• 51:36
  $35.00 an ounce, They would have to also discount the fact that
• 51:40
  they got in early by confiscating people's gold and
• 51:44
  being the number one holder of gold reserves in the world,
• 51:47
  which we can't confirm because it's opaque market.
• 51:49
  We don't know if Fort Knox is actually real.
• 51:51
  All of this data anyways. That's like a whole different,
• 51:54
  you know, topic. We don't need to go down that
• 51:55
  rabbit hole, but the point is that this is true of every asset
• 52:00
  class. So that's going to be wildly
• 52:02
  inconsistent. I don't see how this sort of
• 52:05
  legislation passes in the United States context.
• 52:08
  I can absolutely see this going in Europe and other places,
• 52:12
  which jurisdictionally is going to drive more value to the
• 52:15
  United States dollar and this is what happens with that dollar.
• 52:18
  Doom Loop. If you've ever heard of the
• 52:19
  dollar milkshake theory from Brent Johnson, what happens is.
• 52:24
  The value of the United States market increases relative to the
• 52:28
  other emerging markets faster, which causes them to pull assets
• 52:32
  out of their own economy to put them into the United States
• 52:36
  economy, which then creates more of a distortion and more of a
• 52:39
  location and more dollars flow. And so that's what happens is
• 52:43
  the dollar continues to strengthen, not because the
• 52:46
  dollar is strong, it strengthens relative to their weaker
• 52:49
  currencies. And so this is a a story that I
• 52:52
  will see play out. If they impose these sorts of
• 52:55
  regulations in the European Union or in other places where
• 53:00
  they're going to selectively tax Bitcoin, this would never fly in
• 53:03
  United States context, like any rational judge or.
• 53:06
  You know, just straight thinking person would say, well then
• 53:08
  we're going to have to go back and tax every early shareholder
• 53:11
  in every other asset class that you have out there, including
• 53:13
  gold as a commodity. So what that's going to cause is
• 53:17
  more flight and more capital to go to the United States markets,
• 53:20
  which is what China is facing right now.
• 53:22
  We're on a little bit of a tangent, but I'm on one.
• 53:24
  So I just want to keep going. What's happening in China right
• 53:27
  now? They're trying to bolster their
• 53:29
  stock market because their economy.
• 53:31
  Is absolutely crumbling. The property values, their real
• 53:34
  estate values continue to go down, right?
• 53:37
  The the consumers in China have low trust in their own economy.
• 53:41
  And what you're seeing is they're flooding the market with
• 53:44
  a bazooka of liquidity in order to prop up foreign investment
• 53:48
  into their stock market. But ultimately, at the end of
• 53:51
  the day, people don't trust the Chinese stock market.
• 53:54
  And so Chinese investors, they. Put all of their money into
• 53:59
  United States markets, they put it into Canadian real estate,
• 54:02
  they put it into United States real estate in the Pacific
• 54:04
  Northwest. They continue to send their kids
• 54:07
  to College in the United States because they want to park their
• 54:10
  assets in the United States. And that drives up the dominance
• 54:14
  of the dollar. And so this is will continue to
• 54:16
  happen if other jurisdictions continue to do things like this.
• 54:20
  If they want to tax Bitcoin selectively by imposing a 70%
• 54:24
  tax, good luck. More money's going to flow into
• 54:27
  the United States. That's going to create a
• 54:28
  stronger dollar and then it's going to create more pressure to
• 54:31
  pay back those US denominated debts, which is the euro market
• 54:35
  altogether. Tangent, but hopefully it's
• 54:39
  valuable for people. Dante spitting today yeah and
• 54:42
  and speaking even of China, they're they did I I think it
• 54:45
  was just maybe floated but the you know the CCP, the Chinese
• 54:50
  government out there is basically now at least talking
• 54:54
  about taxing their citizens on foreign investments.
• 54:59
  And so like is that going to also hurt the US real estate?
• 55:04
  Obviously they are worried about capital flight and they're doing
• 55:07
  and clamping down on capital controls.
• 55:09
  And so this is the growing trend and This is why we talk about
• 55:12
  this on the show all the time as a theme that the powers that be,
• 55:16
  the international bankers, you know, the bankers, the
• 55:18
  politicians, they aren't as stupid as you might think they
• 55:21
  are. They understand the game as
• 55:23
  well. And they understand that they
• 55:24
  have to clamp down on capital because if capital isn't treated
• 55:27
  correctly, it's going to flow to where it's treated well.
• 55:30
  And we're seeing multiple examples of this play out.
• 55:33
  And of course, Bitcoin is the superior money here.
• 55:36
  It's, you know, it's a, it's the best money here and it's very
• 55:40
  easy to just pick up all your wealth in Bitcoin, go where
• 55:42
  you're treated well. And we're going to start to see
• 55:45
  this nomadic Bitcoin meme really start to play out if more
• 55:49
  countries and more governments start to act very unfavorably
• 55:53
  towards Bitcoin. And we're seeing this happen in
• 55:55
  in traditional finances. So it's only going to put, you
• 55:59
  know, gasoline on the fire when they really come after Bitcoin
• 56:02
  and men. We all know that it's coming
• 56:04
  down the timeline and, and we see this happening in real time
• 56:07
  here. It's a, it's like the train
• 56:09
  wreck in slow motion here on simply Bitcoin because we
• 56:12
  constantly cover it and people are like, what?
• 56:15
  That's not gonna happen. It's never gonna happen.
• 56:17
  And now it's like 2-3 months down the line, we're like, no,
• 56:19
  see here, here's another example of capital control.
• 56:22
  Whether they're trying to tax it, whether they're trying to
• 56:24
  ban it, it, we know what the game is.
• 56:27
  Once you understand how Bitcoin works and you look at the world
• 56:31
  through a Bitcoin lens, you understand where the next move
• 56:34
  on the chess board's going to come from.
• 56:36
  And we all know it's going to be capital controls.
• 56:39
  They're obviously trying to do that with Operation Choke .2
• 56:41
  Point O. They're doing it in traditional
• 56:43
  financial worlds. They're floating out all these
• 56:45
  tax propositions. It's like it's coming soon
• 56:47
  enough unless Bitcoin just blows through and we, you know, we get
• 56:51
  this watershed moment where everyone becomes a Bitcoiner.
• 56:54
  But that that's probably the most helping we had on the show
• 56:57
  today. Yeah, No, I don't.
• 57:00
  I don't. I don't see that happening.
• 57:01
  But I mean, for those of us that do get in, I mean, you can
• 57:05
  either, you can either deny it or or you can get with it.
• 57:08
  I always keep this book with me, man.
• 57:10
  I I like, I talk about this book more than I probably should.
• 57:13
  This is the everything store with Jeff Bezos by Brad Stone.
• 57:18
  Literally at the beginning of this book, he worked at a
• 57:21
  company called DE Shaw, which basically created one of the
• 57:23
  first, you know, like Gmail equivalents and you know, ad
• 57:27
  based browsers and all these sorts of things.
• 57:28
  He was the best employee at DE Shaw.
• 57:31
  And he goes to his boss one day. You know, they're one of the
• 57:33
  biggest and highest performing hedge funds out there.
• 57:35
  He goes to his boss one day. He goes, yo, I'm about to leave
• 57:38
  to to sell some books. And boss is like, what are you
• 57:42
  talking about? What the hell do you mean you're
• 57:45
  going to sell books? He's like, yeah, there's this
• 57:47
  thing called the Internet and it's growing the last three
• 57:51
  years, a compounded annual growth rate of about 1500% a
• 57:55
  year. And I think it's going to be a
• 57:57
  thing. And so, yeah, I'm just going to
• 58:00
  start out selling books. We'll see what what happens from
• 58:02
  there. Literally two months later,
• 58:04
  dipped out, went to Amazon famously, you know, turn that
• 58:07
  door into his desk and, you know, start it from there.
• 58:11
  The whole point of that is he saw a world based upon the
• 58:15
  compounded annual growth rate of the Internet, that this thing is
• 58:18
  going to be sustainable. And so I'm going to start at the
• 58:21
  very bottom, building a system that looks completely different
• 58:24
  than every other commerce and every other store out there.
• 58:27
  And lo and behold, we get more Amazon packages at our door than
• 58:32
  anything else these days. And this is in a span of 20 to
• 58:36
  25 years relative to when they went public in 1997.
• 58:40
  So you have to understand the compounded annual growth rate
• 58:42
  from when they went public is like 32% a year.
• 58:45
  You have to understand when these trends happen, there's no
• 58:49
  stopping them. There's a great chart this week
• 58:51
  going out there about Netflix and how their subscriber chart
• 58:55
  and growth is like taking off because Netflix was the first,
• 58:58
  the first people in this whole streaming wars to have this
• 59:01
  Moat. And when you get these first
• 59:02
  advantage movers in this digital age, these digital monopolies
• 59:07
  and digital networks are so devastating when you get that
• 59:11
  first mover advantage and you get that first.
• 59:13
  And Bitcoin has that Moat in the crypto world versus ETF and the
• 59:18
  ETF world versus other financial products and the self
• 59:21
  sovereignty market versus other things like gold, like what
• 59:24
  you're starting to see in this digital world.
• 59:26
  This is the digital hard asset of the next Millennium.
• 59:30
  And so when you think about that, the, the, the trend is
• 59:34
  obvious. Don't, don't fight the trade,
• 59:37
  don't make it too hard. You can't see it.
• 59:39
  But if you squint out far enough, you'll see that this is
• 59:42
  following the same the same curves, the same loss, the same
• 59:46
  things that we've seen in the past.
• 59:48
  Totally, man, absolutely killing it today, Dante, Everyone, we
• 59:51
  got one last segment. We're going to be talking about
• 59:53
  all the stuff that Dante is working on.
• 59:55
  But of course, there's over 1700 of you guys watching live.
• 59:58
  Let's get the likes up on YouTube.
• 1:00:00
  It helps us get pushed in the algos.
• 1:00:02
  Hashtag for the algos. Let's make sure more people are
• 1:00:05
  hearing this message. This is how we win is waking up
• 1:00:09
  everyone out there to the real problems in the world.
• 1:00:12
  But before we do that, let's get into the culture.
• 1:00:14
  I think if you like Dante's spitting on today's show, he's
• 1:00:17
  going to drop some more. Sauce for you guys.
• 1:00:31
  All right, guys, of course, of course, of course we pay the
• 1:00:34
  bills here. Make sure you go to
• 1:00:35
  orangecoapp.com. If you are hearing what we're
• 1:00:39
  saying today. The silver lining here is that
• 1:00:44
  one day big corners will have all the wealth.
• 1:00:45
  And so you want to stack some friends who stack sad.
• 1:00:48
  So you need to ensure that you take these relationships from
• 1:00:52
  the Internet and you bring them into meat space because hey, I
• 1:00:55
  don't know if you guys noticed what happened the last four
• 1:00:58
  years, but things have gone pretty crazy, like really crazy
• 1:01:01
  the last four years. And it would have been better if
• 1:01:04
  we had a small community of like minded individuals, or rather a
• 1:01:07
  huge community of like minded individuals so that you can rely
• 1:01:11
  on people that you know in meat space to fight back against the
• 1:01:15
  great leviathan that we find ourselves in.
• 1:01:18
  What a crazy world. Anyways, go to orangecoapp.com
• 1:01:21
  stack friends who stacks that? This is the way.
• 1:01:24
  All right, well, first and forest foremost, I'm just going
• 1:01:27
  to show the YouTube a little bit here Dante, because if you like
• 1:01:29
  what Dante is doing, if you aren't aware, Dante is one of
• 1:01:34
  our newest content creators doing the Bitcoin Simply Show.
• 1:01:38
  So Dante, you've been killing it.
• 1:01:39
  Let's just give the people a little TLDR. You know, what do
• 1:01:42
  you cover? What do you want to do?
• 1:01:44
  What's the mission with the Bitcoin Simply Show?
• 1:01:48
  Man, it's in the name. Like I, we don't want to
• 1:01:51
  overcomplicate it. I want to make Bitcoin simple
• 1:01:53
  for people. I mean, honestly, I want to make
• 1:01:55
  it fun. I want to make it entertaining.
• 1:01:57
  I want to make it relevant. So I'm always trying to mix in a
• 1:01:59
  sports reference, a funny joke, a funny clip here that allows
• 1:02:02
  everybody to kind of get on the same page with what we're
• 1:02:04
  talking about. And so that's my whole goal with
• 1:02:07
  the show in creating content again.
• 1:02:09
  And in with that, you know, one of the biggest observations I
• 1:02:12
  had when I was doing the Bitcoin Daily Show at Swan, I put out
• 1:02:15
  this thing where I said, Hey, send me an e-mail with your
• 1:02:17
  questions at daily@swanbitcoin.com and
• 1:02:21
  literally surprised me. Like I would get like 30 to 40
• 1:02:23
  emails a day if people asking these questions of how do I
• 1:02:27
  navigate this? What is what is will quantum
• 1:02:29
  computing destroy Bitcoin? What is a multi sig versus a
• 1:02:31
  single sig? How do I know that the
• 1:02:33
  government's not going to ban it?
• 1:02:34
  And what you understand is that there's so many people like
• 1:02:38
  Twitter is probably not the best medium to get like Lynn Alden or
• 1:02:42
  or one of these, you know, experts to reply back to your
• 1:02:45
  tweet with the serious question that you have.
• 1:02:47
  LinkedIn is clearly not the other right community where it's
• 1:02:50
  like literally like the algos ban anything and everything
• 1:02:53
  about Bitcoin. But then it's like your
• 1:02:55
  professional context. It's kind of weird.
• 1:02:57
  Like none of your other peers are like really like engaging
• 1:02:59
  with Bitcoin there. So I just thought like, hey,
• 1:03:02
  what if there was this third space where people can literally
• 1:03:05
  learn, engage in community with others about Bitcoin and like
• 1:03:09
  get real questions answered? How do they navigate this new
• 1:03:12
  frontier? And that's why I came up with
• 1:03:13
  this idea of like Columbus. Like that's what I'm doing with
• 1:03:16
  joincolumbus.com. And as we've been in beta for
• 1:03:20
  like the last two months, we've got, you know, hundreds of
• 1:03:24
  members now. And it's pretty cool to see
• 1:03:27
  people really want community. They really want answers.
• 1:03:29
  They want to go in depth. They want it to be easy and
• 1:03:32
  understandable. And so that's what I want to do
• 1:03:34
  with my show. That's the kind of content I'm
• 1:03:36
  trying to create. I'm literally like in the
• 1:03:39
  process, like somebody tell me not to do this, but like writing
• 1:03:42
  a book to help make Bitcoin simple for people.
• 1:03:45
  But it's literally all in the vein of helping people to try to
• 1:03:49
  understand this new revolutionary technology that I
• 1:03:53
  believe will change the world. It's just hard to see that it's
• 1:03:56
  not going to do what everyone said that it will.
• 1:04:00
  And I want to make that accessible to everybody.
• 1:04:02
  Like those adoption curves, like the early adopters, that first
• 1:04:06
  1% and you know we're in that kind of second phase of this S
• 1:04:09
  curve. You're going to get like
• 1:04:10
  everybody else jumping in here. I think it's my phone.
• 1:04:13
  You're going to get everybody else coming in here that's, you
• 1:04:17
  know, your grandfather, your uncle, your cousin and them,
• 1:04:20
  they want to learn about Bitcoin.
• 1:04:21
  But when you start talking about Merkel trees, you start talking
• 1:04:24
  about lightning nodes, you start talking about datum and ocean
• 1:04:28
  and all these protocols using all this language like, whoa,
• 1:04:31
  that makes no sense to me. Well, you've got to break it
• 1:04:34
  down in a way that helps them understand because everybody's
• 1:04:36
  on a journey, crawl, walk, run. We're moving from, Hey, maybe I
• 1:04:41
  might consider some in my in, in an ETF in a retirement
• 1:04:45
  portfolio. Hey, let me, let me, let me
• 1:04:48
  think about how do I buy some on one of these exchanges?
• 1:04:50
  And the first ad that they see is Coinbase Terrible, I know.
• 1:04:53
  But then one of your buddies convinces them to listen to a
• 1:04:55
  podcast. They don't get off of they they
• 1:04:57
  they move from Coinbase to a Bitcoin only exchange like the
• 1:05:00
  Bitcoin well like river, like swan, one of these these Bitcoin
• 1:05:03
  only companies that has their best interest in mind and then
• 1:05:06
  they move from leaving it on an exchange to withdrawing it to an
• 1:05:10
  online wallet. Maybe that's a blue wallet,
• 1:05:12
  maybe that's phoenix wallet. Maybe that's one of these other
• 1:05:15
  kinds of wallets where they kind of get interested in this sort
• 1:05:17
  of thing and they send their first transaction and then they
• 1:05:20
  realize that the transaction that they sent was too small and
• 1:05:23
  it's going to create a small UTXO where the price of the fee
• 1:05:27
  in the future is going to cost more than the stats that it's
• 1:05:30
  worth in the UTXO. And so then and they go, oh man,
• 1:05:34
  maybe I could just buy this Bitcoin, but withdraw it in
• 1:05:36
  larger UTXO set so that I it's going to be valuable in the
• 1:05:39
  future. And then they move from oh crap,
• 1:05:42
  how do I do that? Well, I've got to download
• 1:05:44
  Sparrow wallet or I've got to run my own start 9 lab node or
• 1:05:48
  I've got to, you know, download one of these softwares to help
• 1:05:51
  me or desktop software to help me understand these transactions
• 1:05:55
  and to do these sorts of things. And then they go from single
• 1:05:57
  transactions to multi sig right. Oh, well, I had to assign twice,
• 1:06:02
  like multiple signatures in order to release these funds.
• 1:06:05
  And then you go completely off the grid, right?
• 1:06:08
  Everybody's on this continuum and on this journey.
• 1:06:10
  Like, I'm really focused. Like, I love all the people on
• 1:06:13
  the side, like all the hardcore folks.
• 1:06:15
  I'm just not that hardcore. Like I'm watching Thursday Night
• 1:06:19
  Football. I'm trying to see what, like,
• 1:06:22
  you know, Matt Stafford, you know, does to the Vikings
• 1:06:24
  tonight. Like former NFC North guy.
• 1:06:26
  He's got to hate those guys. Weird.
• 1:06:28
  They might trade them to the Vikings, sort of a weird turn of
• 1:06:31
  events if he was in a Vikings jersey.
• 1:06:33
  But like, I'm watching the game just like everybody else like
• 1:06:36
  and people are looking at these different lines on FanDuel.
• 1:06:39
  I don't bet I just buy Bitcoin. But it's interesting for me to
• 1:06:41
  look at that stuff. And then so if I make a funny
• 1:06:43
  joke related to the game that allows them to get into Bitcoin,
• 1:06:48
  that's a win for me. So that's what I do three days a
• 1:06:51
  week, hopefully more moving towards four days a week on
• 1:06:54
  Bitcoin, simply on the Simply Bitcoin channel, and then
• 1:06:57
  through Columbus throughout the week by trying to help people go
• 1:06:59
  deeper in their journey. And then hopefully through a
• 1:07:01
  book and other content that should be coming out soon.
• 1:07:03
  But that's what I'm up to, man. Love it, Dante.
• 1:07:06
  I mean, I, I do agree with one thing you said, you know, I
• 1:07:10
  don't really watch much sports ball anymore.
• 1:07:12
  I have been catching some college football games on the
• 1:07:15
  weekend. But one thing that I find very
• 1:07:18
  interesting and, and, and you kind of just touched on that is
• 1:07:20
  like, yes, once you kind of get obsessed with Bitcoin, it's like
• 1:07:24
  all you think about, But after you kind of get through that
• 1:07:27
  initial like technical hurdle and you know, you understand
• 1:07:31
  enough, you go back to, I just want to live a good life, man.
• 1:07:34
  And, and Bitcoin is going to help me live that good life.
• 1:07:37
  And hey, you know, I know a lot of Bitcoiners hate on people
• 1:07:39
  that like football or watch sports and all that stuff, but
• 1:07:42
  it's like there's other things outside of Bitcoin.
• 1:07:44
  And this is how we get people into Bitcoin as not just a money
• 1:07:48
  revolution, but like a cultural revolution.
• 1:07:50
  Understand like, yo, there's a lot more to life than just
• 1:07:54
  Bitcoin. But once you get on the Bitcoin
• 1:07:55
  standard, once you fix the money, you will fix the world.
• 1:07:58
  And so kudos to you and the journey over that, Columbus.
• 1:08:01
  But I see you do want to jump in before we'll plug Columbus and
• 1:08:04
  wrap up today's show. I mean, the the last thing that
• 1:08:08
  yeah, I mean, my whole journey with getting people into Bitcoin
• 1:08:11
  is so that we can we can we can get the things that we truly
• 1:08:14
  want in life. Like so the thing that I I
• 1:08:17
  always want to say is like nobody that's watching my you
• 1:08:20
  know, Bitcoin simply shows are going to be a like my funeral,
• 1:08:24
  like Bitcoin is an Ave. for me to connect with the people that
• 1:08:27
  I love to spend the most time with.
• 1:08:29
  I have 4 kids. I live in community.
• 1:08:31
  If you walk around on the east side of Indianapolis, like
• 1:08:34
  people know who I am. People know who I am in this
• 1:08:36
  city. And so it's like I want to be
• 1:08:38
  famous, like in my own city, in my own little pocket in my own
• 1:08:41
  city, right? Like I want to be known by the
• 1:08:42
  people that that know me best. And so that's kind of my end
• 1:08:46
  goal. And so Bitcoin is an Ave. for me
• 1:08:48
  to express that through financial financially through
• 1:08:51
  through becoming financially sovereign and financially free.
• 1:08:54
  And so my like, my whole thing with Bitcoin is like Bitcoin is
• 1:08:57
  not the end, all right? It's not it's not the
• 1:08:59
  destination. It's the journey towards the
• 1:09:01
  place where you ultimately want to go.
• 1:09:03
  So use it as a tool, use it as a resource to help you achieve the
• 1:09:06
  goals and the things that you want in life.
• 1:09:08
  And so that's my end goal. Like I'm out in the real world.
• 1:09:11
  Like I'm out at like games, I'm coaching, I'm on sidelines, I'm
• 1:09:14
  doing different stuff. Like we got to get off the
• 1:09:16
  computers, we got to get off the screen, we got to get away from,
• 1:09:19
  you know, the algos and all the things that people want to suck
• 1:09:22
  us into so that we can start to get out into the real world.
• 1:09:25
  So if you start to think in these epochs, these 4 four year
• 1:09:28
  cycles, right like? You.
• 1:09:29
  You really begin to desensitize yourself, to desensitize
• 1:09:33
  yourself to the sways in the pools of all of this media, all
• 1:09:37
  of these hype cycles, all of these election cycles.
• 1:09:39
  And you start to think longer term.
• 1:09:41
  And that's what Bitcoin ultimately allows you to do, is
• 1:09:44
  you get into Bitcoin real deep and that allows you to exit into
• 1:09:47
  the things that you care about more deeply. 10 agree more, 10
• 1:09:54
  agree more. All right, let's let's play
• 1:09:56
  Columbus one more. But there was a good question
• 1:09:58
  here. And, and I'm also wondering
• 1:10:00
  this, I know you, I know Chris is a part of this.
• 1:10:03
  You have a couple big corners that I know that are part of
• 1:10:06
  Columbus. But someone asks, can I join
• 1:10:08
  Columbus to teach? People about nodes.
• 1:10:11
  Like how does this community work?
• 1:10:12
  And then let's plug how people can join Columbus.
• 1:10:15
  Yeah, so Columbus, it's going to it's like a literal a digital
• 1:10:19
  online community. And so I've been like behind the
• 1:10:22
  scenes trying to build all this sort stuff out, but there's
• 1:10:24
  literally going to be like forms and places where you can talk
• 1:10:27
  about and ask questions about multi sig about lending options
• 1:10:31
  on my Bitcoin. What's the difference between,
• 1:10:33
  you know, debify or atomic finance or which again, all
• 1:10:37
  these things that I don't like recommend to people or or these
• 1:10:39
  sorts of things, but people have questions about them and they
• 1:10:42
  want real answers. They want real deep dive.
• 1:10:43
  So this is going to be a community, community where you
• 1:10:45
  can ask those questions that are hard to ask in public.
• 1:10:49
  So it's kind of a form sort of like Slack or Telegram or these
• 1:10:52
  other things where you have these different channels that we
• 1:10:54
  talk about these different topics.
• 1:10:56
  Then we bring in different speakers.
• 1:10:58
  So the last two speakers that I've had are Larry Lapard, I've
• 1:11:01
  had Gio Santo Stasi, all right, to talk about the Bitcoin power
• 1:11:04
  law. We're bringing in a multi cig
• 1:11:05
  expert. We're actually going to go
• 1:11:07
  through live. What is multi cig?
• 1:11:09
  How do you invite different people into contracts?
• 1:11:11
  How do you sign these transactions through your
• 1:11:14
  signing device, not your hardware wallet, Bad term, but
• 1:11:17
  teaching people all of these different differences with that.
• 1:11:20
  And so there's a couple of different tiers.
• 1:11:22
  There's the adventurer tier, which is anyone can join, they
• 1:11:24
  can come and they can learn for free.
• 1:11:26
  And we're going to have courses, we're going to have all of these
• 1:11:28
  things in there. Then there's the explorer tier.
• 1:11:31
  So these are people that are going to go a little bit deeper
• 1:11:33
  in their journey. We get to have one-on-one calls,
• 1:11:35
  like it's like 10 bucks a month. Like people get to actually
• 1:11:38
  engage with like me and other Bitcoin experts like Elaine Mao,
• 1:11:42
  someone you've seen on the show, other people that are working
• 1:11:45
  behind the scenes that are going to answer your actual questions
• 1:11:49
  and not just be out there in the in the Internet.
• 1:11:51
  And then you have the adventure tier.
• 1:11:53
  This is a place for like high net worth individuals and other
• 1:11:56
  people to connect and like round tables with other people that
• 1:11:58
  share their problems. These are people that own
• 1:12:00
  businesses. These are people that have
• 1:12:02
  significant networks. They have trust.
• 1:12:04
  They don't know which lawyers to use, which trust advisors to
• 1:12:08
  use, which accountants to use, like their existing network is
• 1:12:12
  counter position to their desires, which is to go deeper
• 1:12:15
  into Bitcoin. And so it's a small community
• 1:12:17
  for this group of people to do this as well.
• 1:12:19
  But like, that's the practical of it.
• 1:12:21
  Like we're coming up on like 2 1/2 months.
• 1:12:23
  We're really about to come out with all of these different
• 1:12:25
  products and things. But like, it's a digital online
• 1:12:28
  community to navigate your Bitcoin journey.
• 1:12:31
  Love it bro. Killing it, killing it.
• 1:12:33
  Oops, wrong comment, wrong comment.
• 1:12:37
  Everyone's yelling at me because I'm not hanging out in the chat.
• 1:12:39
  Hey guys, I'm I'm producing the show in real time as well.
• 1:12:42
  But Dante, you killed it today. I do want to give you actually
• 1:12:47
  two questions. First off, tell the people, tell
• 1:12:51
  the people when you drop the Bitcoin simply show so they know
• 1:12:56
  when to check out for you on the Simply Bitcoin channel.
• 1:13:00
  And then I want I want to do one last question.
• 1:13:02
  So do that quick plug, when do people find you on the Bitcoin
• 1:13:05
  or Simply Bitcoin channel? The the only Simply Bitcoin
• 1:13:09
  channel, the show that I produce is called Bitcoin Simply and
• 1:13:12
  that comes out on Tuesdays, Fridays and Saturdays.
• 1:13:15
  So I definitely want to plug that the shows typically come
• 1:13:18
  out between 3:30 and 5:00 every single day or, or on those
• 1:13:22
  certain days. Rustin is on the other days of
• 1:13:25
  the show and we're thinking about even producing a Sunday
• 1:13:27
  show. So we're coming out on Tuesdays,
• 1:13:30
  Fridays and Saturdays on Bitcoin Simply.
• 1:13:34
  Love it bro. OK, last question.
• 1:13:36
  I know you're technically in the Co host seat today, but since
• 1:13:40
  they're also kind of being the guest for today, I always leave
• 1:13:43
  with the same question. What is the last message you
• 1:13:47
  want to leave with the audience? It could be about life, it could
• 1:13:49
  be about Bitcoin, it could be one last plug for Columbus.
• 1:13:52
  Whatever it is, What's the last two sets you want to leave with
• 1:13:55
  the audience today? Wow, I'm going to be back.
• 1:13:58
  So I don't need to hit y'all with anything that's like morbid
• 1:14:00
  or like, you know, go kiss your loved ones and that sort of
• 1:14:03
  stuff. Like I'm going to leave with
• 1:14:04
  this whole comment from like bricks and Putin and everything
• 1:14:07
  that happened today. Like he said today that the
• 1:14:11
  dollar is the most important financial asset in the world.
• 1:14:15
  The majority of financial trade is facilitated through the
• 1:14:19
  dollar. So he said, he didn't say that
• 1:14:22
  the dollar is going to be worth less.
• 1:14:24
  It's going to be worth less overtime when compared to harder
• 1:14:30
  assets. So it isn't going to 0
• 1:14:32
  nominally, it's going to 0 in the real terms when compared to
• 1:14:37
  harder assets. The dollar will go to zero
• 1:14:40
  against things like what Paul Tudor Jones and Stanley
• 1:14:42
  Druckenmiller and even Larry Fink said, hey, I'm long hard
• 1:14:45
  commodities, I'm long Bitcoin, I'm long gold, I'm short
• 1:14:49
  treasuries, I'm short the United States government, right?
• 1:14:53
  All of these people have said the same thing, and these are
• 1:14:55
  some of the best investors of all time.
• 1:14:57
  Don't make the trade too hard, right?
• 1:15:00
  The dollar is not going to 0. It's becoming worth 0 in
• 1:15:05
  relation to harder assets. Yeah, listen, that's cool.
• 1:15:12
  What the fucking ball? One, I wanted to give some a
• 1:15:14
  whoos. Here we go.
• 1:15:16
  All right, all right, all right, right.
• 1:15:17
  Well, Dante, thanks for coming on.
• 1:15:19
  Actually, let's let's do one more plug your plug your Twitter
• 1:15:23
  and then of course, guys go to joincolumbus.com if you're
• 1:15:26
  interested in what Dante is doing.
• 1:15:27
  But Dante, plug your Twitter real quick and then let's wrap
• 1:15:29
  up today's show. All right, my Twitter is Dante
• 1:15:32
  under score cook one trying to get to 10K.
• 1:15:35
  I'm kind of a hermit on there. I don't post as much as I
• 1:15:37
  should. I don't really like hanging out
• 1:15:39
  on Twitter. It's hard for me to get out.
• 1:15:41
  Like I got like literally 4 kids.
• 1:15:42
  It's hard, but still Dante under score cook one and if you want
• 1:15:47
  to learn more about Columbus, go to join Columbus com.
• 1:15:49
  We're going to start ramping up that like really soon come out
• 1:15:52
  of beta like really get out in the public.
• 1:15:54
  People like what is this whole Columbus thing like you're going
• 1:15:56
  to start to see really soon. We're pretty excited about it.
• 1:15:59
  Love it bro, Love it. Well, you know, me too.
• 1:16:02
  I'm trying to get to 10 K2, but I never plugged my Twitter.
• 1:16:04
  I haven't even been active on Twitter.
• 1:16:06
  But yeah, you know, since you're plugging, go to on Twitter and
• 1:16:08
  follow me at Optimist Field. Let's get the self show in here.
• 1:16:13
  Anyways, Dante, really appreciate you coming on the
• 1:16:16
  show absolutely killed it today. Did an incredible job.
• 1:16:20
  But so you know, we're going to have to bring you more on the on
• 1:16:23
  the live show because the chat is loving it.
• 1:16:25
  Maybe it maybe it'll be a a trifecta with you, myself and
• 1:16:29
  Nico on the on the live show one day.
• 1:16:31
  Thank you for coming in. And on that note, bro, let me
• 1:16:34
  pull you behind the scenes and wrap up today's show.
• 1:16:38
  All right? Boys and girls, mainly boys and
• 1:16:41
  some girls. Of course, of course, of course.
• 1:16:43
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• 1:16:47
  below. What you think of the stuff
• 1:16:49
  we're saying, you know? Yeah.
• 1:16:51
  But hey, let's be a little constructive here.
• 1:16:53
  I know, I know we're, I know we're late a little bit.
• 1:16:55
  So don't just be saying you guys should start earlier.
• 1:16:57
  Be like, all right, maybe I agree or disagree.
• 1:17:00
  We are. Open to constructive criticism.
• 1:17:02
  Here, we love you guys. Have a good day and you know,
• 1:17:05
  piggyback off our piggybacking off something, Dante.
• 1:17:08
  OK said. Go outside, touch some grass.
• 1:17:12
  Eat some good food. Call your loved ones, hang out
• 1:17:14
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• 1:17:18
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• 1:17:20
  Get off the black mirrors boys and girls.
• 1:17:23
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• 1:17:25
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• 1:17:27
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• 1:17:30
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• 1:17:38
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• 1:17:41
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