Latest / Simply Bitcoin / Hedge Fund Manager Predicts 475k Bitcoin in 2025 | EP 1110

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Hedge Fund Manager Predicts 475k Bitcoin in 2025 | EP 1110 · Simply Bitcoin

0:00
Yeah, I'm gonna send to Bitcoin one of the world's.
0:03
I mean, one of how do I say this guys?
0:07
You guys know Doctor Jeff Ross and awesome Bitcoiner, great
0:11
takes. He has a hedge fund.
0:13
And what's really interesting to me is that recently he went on
0:19
Bitcoin for Millennials podcast with Bram and he predicted a
0:23
$475,000 Bitcoin by 2025. What's really interesting though
0:29
is his reasoning as to why he thinks this.
0:33
And this is something that I've personally believe and this is
0:36
something that I've made the case for in the past, which is
0:40
the last cycle of 2021 I believe was cut short because of the
0:45
China mining ban. So seeing this, you know, seeing
0:50
this theory talked about by another person is quite
0:54
interesting. So I have the clip for you guys.
0:55
I'm going to play it and then I'll bring up Opti and then
0:58
we'll talk about it. Let's check it out.
1:00
That the annualized rate of return of Bitcoin does diminish
1:04
over time. But I don't necessarily think
1:07
that the peak cycle behavior like what we saw the the
1:10
dampened peak back in 2021, I think that was a fluke.
1:15
So I don't think it's going to continue like that.
1:17
And I know there's some prominent people over on Twitter
1:19
X who believe that the cycle peaks are diminishing.
1:23
And I just disagree with that. I think what happened in 2021
1:27
was we were on our way to Bitcoin heading up above 100,000
1:31
and I had about 125,000 targeted.
1:34
And then China did that ban and they came out of left field and
1:37
they and they literally within a month dropped the hash rate of
1:41
Bitcoin by about 50% or so. And that was a legitimate
1:44
exogenous shock to the Bitcoin network that took time to
1:48
recover from. And all the miners had to
1:50
relocate in different parts of the world.
1:52
People had to sell tons of Bitcoin to pay for these kind of
1:55
things. That was a huge shock.
1:58
Basically, it's almost like a meteor coming and hitting the
2:01
Earth, and it had to recover from that.
2:03
Because of that, I think that by the time Bitcoin price started
2:06
to recover and got back up to about 69,000, by that point,
2:10
the, the, the liquidity cycle was, was starting to roll over.
2:15
It was already peaking and was going to roll over.
2:18
So global M2 was heading over and people saw that inflation
2:21
was going to be a concern and the economy was getting a little
2:24
hot. So they were starting to put the
2:25
brakes on. And so Bitcoin didn't have a
2:27
chance to do that long last push, that exponential push
2:30
higher. So anyways, because of that, I
2:32
think that was a fluke. And I think people who base too
2:34
much research off that I think are going to be wrong to the,
2:37
they're going to miss some upside potential.
2:40
They're all selling out at 200 K because I think that's the
2:42
appropriate peak. They have the chance of missing
2:45
out. I mean, my price target is
2:48
475,000 for the fourth quarter of 2025.
2:52
And that might be low. It, it could be too high, but
2:55
but it could also be too low. I could see Bitcoin going up to
2:57
7 or 800,000 or even touching $1,000,000 this cycle before
3:01
2025 is over. So, Doctor Jeff.
3:03
Ross is an absolute legend. I'm here to join with my
3:06
legendary Co host, Optimist Fields, and you know, he's been
3:10
he's been he's been on the show multiple times, you know, part,
3:14
definitely part of the community.
3:16
And what's really interesting about this theory is I've, I've,
3:20
I have the same call and I, and I've told this to you guys
3:24
multiple times. I think we've got very let down.
3:28
Yeah. OK, senor, you didn't go PAPI.
3:30
Let's do 100K first. Totally agree, right?
3:33
This Trump Trump solidation that we've been experiencing this
3:36
last eight months have been absolutely brutal.
3:39
Completely agree. However, Bitcoin tends to do the
3:43
exact opposite of what everyone expects it to do.
3:47
And the general consensus this cycle is Bitcoin 100 to 300 K
3:54
someone's asking what is exactly He's a medical doctor, but he
3:57
also has a hedge fund and of us as a side practice and he's a
4:03
great guy and very, very great takes.
4:05
But I I I've said this theory on simply many times over the last
4:10
year or so, which is I believe we got robs.
4:14
It got cut short the last cycle of 2021.
4:18
And I've made the case guys, like it's very obvious if you
4:21
look at the data. So for anyone who's listening on
4:25
audio, but for the video listeners, I'll describe it to
4:28
you. So the blue line represents the
4:32
hash rate and here is the and the white line represents the
4:36
price. So the first cycle peak
4:39
according to this data was around 60 K of April 2021.
4:45
And you'll see what happened shortly after is the hash rate
4:48
plummeted. It plummeted from 160,000 Tera
4:56
hashes to down to 9392 or something like that.
5:02
Of course, this is an estimate, but as you can see, there's a
5:06
direct correlation between the price.
5:08
Oh, I'm zooming in. Kind of makes it worse, but
5:10
there's a direct correlation between the price and the hash
5:14
rate. The price peaked and then
5:16
shortly after the hash rate kind of went down and as the hash
5:19
rate recovered, the Bitcoin price recovered with it.
5:22
But we got this kind of like double peak instead of the
5:26
traditional blow off top. I really believe the mining and
5:29
I know like, for example, checkmate has a difference of
5:33
opinion of this when I post it on Twitter, it it it gets a good
5:38
amount of engagement, meaning a lot of people connect with the
5:40
theory, but there's a lot of people that are strong that are
5:43
strongly against it. But if you kind of, I'm a huge
5:46
believer in common sense, if you just use common sense and you're
5:49
like, OK, so why would the price fall as it did in 2021 if the
5:58
hash rate went down? Well, who are some of the
6:01
largest Bitcoin sellers? It's the miners.
6:04
They have to sell a portion of the Bitcoin they mine to pay for
6:08
operations. And that's a large, large amount
6:11
of Bitcoin, right? And if the if the hash rate gets
6:16
cut in half because of the mining ban and those miners have
6:20
to relocate overseas, they have to sell a big portion of their
6:24
Bitcoin to move those miners and all of that infrastructure to a
6:30
different friendlier jurisdiction.
6:31
A lot of them move to Texas, but the hash rate essentially
6:34
decentralized all around the world.
6:36
Texas is very Bitcoin friendly and I think the Bitcoin network
6:41
actually is better for this. The fact that there isn't such a
6:45
centralization of the Bitcoin hash rate in China.
6:47
So, you know, whatever doesn't kill the, the honey badger makes
6:50
it stronger. But I, I do believe in this
6:52
theory. I'm a big believer in this
6:54
theory. When I saw the hash rate drop
6:57
back in 2021, I had the like, I was less experienced back then,
7:01
but I had the voice in the back of my mind, I'm like, this is
7:03
going to impact the price and that, and that's exactly what
7:06
happened. So I agree with Doctor Ross's
7:10
theory now where I think it becomes very difficult to kind
7:15
of, you know, get to a specific price point and whatnot is no
7:20
one really knows what the top is.
7:22
And if anyone tells you otherwise, you know that they're
7:27
speculating. Now, that's not to say someone
7:29
can't get it right. Of course someone can get it
7:30
right. If there's 100 people guessing
7:32
right, eventually one of them is going to get it right.
7:35
But I do believe in the theory that the last cycle was cut
7:39
short. I do believe that Bitcoin tends
7:42
to do the opposite of the consensus.
7:44
The consensus now is everyone has PTSD from the last cycle.
7:48
And Doctor Jeff Ross isn't the only one who is theorizing this.
7:54
I remember seeing a talk by Jack Mahlers and Bitcoin Amsterdam.
7:58
I was in Europe about a month the last month or so and Jack
8:02
Mahlers is expecting 250K to 400 to to $1,000,000 Bitcoin this
8:07
cycle. So, you know, no one knows the
8:12
best strategy is stay humble, stack sat, stay solvent.
8:16
But I what I will say is I don't disagree.
8:19
I don't disagree with the theory of the mining ban because I do
8:23
believe that last cycle back in 2021, we were destined to break
8:27
100K. We were destined to break 100K.
8:30
And then the China ban happened. We have this massive crash.
8:34
And then we kind of had like this double top, but it took all
8:37
the momentum out that initial crash.
8:39
And again, do you think it's a coincidence that the crash
8:42
happened right before the the hash rate fell off a Cliff?
8:46
And I mean, think about all the cell pressure coming from those
8:49
miners. And also, if you really want to
8:51
get a little bit conspiratorial, I might as well because it is
8:54
Friday. We know how the CCP feels about
8:58
my Bitcoin. And we were told by the
9:02
regulators in Europe, based on some leaked documents, that they
9:07
want to attack the price. And we saw, based on the banking
9:12
reports released by the ECB, that, you know, that they're
9:16
freaking out. Turdemeaster wrote a thread
9:18
about it, which we covered on the show.
9:21
The ECB was like, we have to pass regulation to suppress the
9:25
price because central banking can't exist if this Bitcoin
9:29
thing succeeds. So would you, would it would you
9:33
really put it past the Chinese Communist Party to attack the
9:38
price of Bitcoin to potentially slow down its adoption?
9:43
I think central banking is absolutely necessary if you have
9:47
a top down totalitarian state like the CCPI mean the the 5th
9:53
tenant in the Communist manifesto is making the case for
9:56
the necessity of a central bank. So can I confirm that?
10:00
No. Am I speculating?
10:02
Absolutely. Would I put it past them?
10:05
Absolutely not. So the good news is I don't
10:09
think Bitcoin is as prone to that level of attack this year
10:14
because of the amount of hash rate that's located in the
10:18
United States and again, it's decentralized all around the
10:20
world. So and if it if it does happen
10:23
again, right, because we know how the potential Kamala
10:26
administration feels about Bitcoin.
10:29
I mean, that's some signal right there, right?
10:32
Anyways, Opti, what's your take on all this, brother?
10:35
Because you know, I, I, I don't know if you feel the same way.
10:38
I, I, you've heard me tell you this theory.
10:40
I don't know how many times, right?
10:42
I've told you this theory in private.
10:44
I've told you this theory on the show.
10:46
What's your take? Well, I mean, you, you
10:49
definitely said this theory a lot and you know, you've gotten
10:53
some pushback on it, but it is very interesting.
10:56
I mean, when we when we saw this clip this morning, you're like,
10:58
wait, Doctor Jeff Ross? That's literally my theory.
11:01
And we have the same theory. What's going on here?
11:04
You know, I, I don't know what caused the, you know, the, the
11:08
bear market, the collapse. It, you know, you can, you can
11:11
argue that it was the China mining ban.
11:14
You know, you could also argue maybe it was FTX blowing up and
11:19
you know, them not having all of that Bitcoin etcetera, etcetera.
11:22
We can always probably points to different reasons as to why the
11:25
price goes down. I think as humans, we always
11:28
like to look for patterns and you know, we try to notice and
11:31
and point out specific reason for why the Bitcoin price does,
11:34
but it does. But who knows?
11:37
I I don't know, but it is a you know, it is a a good theory
11:40
there. You could back it up.
11:41
You can argue one way or the other, but to the point that
11:44
Jeff Ross is saying is I think what, what I personally feel,
11:49
you know, the last bull run, it did feel like it got cut off,
11:52
that it was a fluke and the price should have gone a lot
11:55
higher. Obviously as a Bitcoiner, you
11:58
know, as a, as a Bitcoin bull tart, I'm always thinking that
12:00
the price is going to go up and to the right forever.
12:04
But 100K seem to be in play. But I think what Jeff is saying
12:08
there is kind of what my gut feeling is as well.
12:11
I mean, you and I, we've been saying it on the show for a
12:13
while that it does seem like a lot of us bit corners, even the
12:17
OG bit corners have been around for a long time that we all do
12:20
kind of have PTSD and, and we're kind of expecting the Bitcoin
12:23
price not to go up as high as we'd like to like it to go,
12:28
especially since we're getting into 6 figure range.
12:30
It's like getting into big numbers, you know, $1,000,000
12:32
Bitcoin like that sounds crazy talk, you know, you know, like,
12:34
could that happen? Obviously it will happen at some
12:37
point, but this next 4 year cycle or next year like that
12:41
seems crazy. But then again, all it really
12:43
takes is someone, you know, a huge whale to come in and buy a
12:46
bunch of Bitcoin or someone with a money printer to turn it on
12:50
and start buying Bitcoin and or you know, the Fiat apocalypse
12:54
blowing up. I'm not really like a dollar
12:55
doomer. I, I'm, I'm really convinced
12:57
that the, the Fed and the central banks and you know, the
13:01
powers that be, they're going to do whatever they can to maintain
13:05
the Fiat system. And hopefully, you know, it
13:08
doesn't completely blow up because that's not the world
13:11
that I want to live in. Because, yeah, the Bitcoin price
13:13
might go up a lot, but then everything else in society is
13:16
absolutely wrecked. And that doesn't sound like a
13:18
good life either. But I think the point remains
13:21
the same that I'm kind of feeling the same thing.
13:23
I've been saying for a while, like I think I said it really
13:26
early on in the year that I feel like this cycle is going to go
13:30
roughly in the, you know, the 2:50 to 3K300K range.
13:35
And I didn't really have data just like that was just my gut
13:38
feeling. But now I'm kind of feeling like
13:41
since we did get cut off on the last bull run, it does feel like
13:47
this next bull run, it might be an extended bull run.
13:51
Like it might not be just one year.
13:53
You know, it might not be, you know, historically it should
13:56
probably dump around like November of next year.
13:59
To me, it feels like maybe we're going to get an extended bull
14:02
run. And and I know that diminishing
14:04
returns meme is really strong right now, but it seems like
14:08
maybe considering all the new stuff that's playing out, new
14:12
developments, the bull run might get extended and it might go
14:15
higher than we know it will. Do I know how high it's going to
14:18
go now where we're starting to enter these big numbers?
14:20
And, you know, it needs a lot more liquidity to make the price
14:23
go that much higher. But I don't know, something's
14:26
just telling me that it's going to run really high this time.
14:30
And hey, we're here for it. And it's going to be a lot of
14:32
fun. And everyone in the chat that,
14:33
you know, has been stacking Bitcoin this whole time is going
14:36
to feel really good and feel vindicated for a little bit
14:39
until we are considered idiots again.
14:42
So, you know, let's just relish in the moment.
14:44
Hopefully, whoa, the election comes, you know, a couple of
14:48
days and that's probably when we're going to start to see a
14:50
little bit of lift off. So it should be an interesting
14:53
end of 2024. Yeah, 100 percent, 100% agree
14:56
with you. All right, guys, stay tuned
14:59
because we have a hell of a show today.
15:01
We have so many topics to cover. Specifically, the Argentinian
15:05
central bank set up a Bitcoin mining exhibit, which I find
15:09
really interesting. We're also going to talk about
15:12
Michael Saylor's MicroStrategy. Completely going to the moon.
15:17
I mean this stock is on fire and this is the vindication of the
15:23
Chad Sailor. So and then also during the new
15:28
segment, we're going to continue talking about a topic that we
15:31
feel very strongly about on simply Bitcoin, which is guys,
15:35
the Internet has changed everything.
15:37
It's disintermediated information and I think the
15:42
future is very, very bright. But the Luddites, the the
15:46
establishment has benefited tremendously from Co opting a
15:50
handful of of intermediaries, a handful of information
15:54
gatekeepers. They're freaking the F out.
15:57
They are. They were not prepared.
15:59
Governments were not prepared for mass scale peer-to-peer
16:04
communications. And why do we talk about this?
16:06
Well, the frontline for the battle for Bitcoin is the battle
16:11
of free speech. So we're going to talk about
16:13
that. And again, if you don't think
16:15
they're OK with you transacting, if you don't think they're OK
16:18
with you speaking freely, what makes you think they're OK with
16:22
you transacting freely? Really.
16:23
Also, we got a special request to talk about a certain topic
16:30
yesterday. I was reached out to by Lynn
16:34
Ulbricht. Lynn Ulbricht is the mother of
16:37
Ross Ulbricht, who will potentially be freed if Donald
16:42
Trump is elected, and she asked simply Bitcoin to play a video.
16:48
So we have that video for you guys lined up and ready during
16:51
the culture segment. So stay tuned.
16:53
We have a ton of content prep prep for you guys.
16:56
If you guys are enjoying the show so far, it really, really
16:59
helps if you smash that like button really tells the algos to
17:03
push the the show forward. All right everybody, before we
17:07
jump into, I do want to give a very special shout out to simply
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19:01
of a show. Strap in let's get some numbers.
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At the time of recording, the Bitcoin price is 69,950 sats per
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dollar 1430 block height 868,430 realize monetary inflation 1.26%
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market cap 1.38 trillion Bitcoin versus gold market cap 7.23%
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money supply 19,776,127 BTC percentage issued 94.17% All
20:58
right everybody. This is absolutely great and I'm
21:00
and I'm sure this has to do with Javier Malay getting, you know,
21:06
getting elected. So Argentina's central bank
21:09
Bitcoin mining exhibit. How crazy is that?
21:12
They're just they have like a Bitcoin museum in the
21:16
Argentinian central bank. This is this is crazy.
21:19
Very, very cool. Anyways, I thought you guys
21:21
would find that interesting, but let's get into the meat of
21:24
today's numbers. So here is Michael Saylor
21:28
announcing the so-called, you know, the 2121 strategy where
21:34
Michael Saylor announced that he's going to be buying up to
21:37
$40 million of Bitcoin every single day, which is extremely
21:42
bullish. And let's take a look at how he
21:45
has performing, how he has been performing performing compared
21:49
to everybody else. And let's check it out.
21:52
So here Bitcoin makes the magnificent set 8.
21:56
So what is he referring to? Usually there is a handful of of
22:01
of of tech stocks. So there's Tesla, obviously
22:05
NVIDIA, Apple, Microsoft, Meta, Amazon and Google.
22:10
And now in terms of daily volume, MicroStrategy is up
22:14
there with all those heavyweight giants, which is absolutely
22:19
insanity. This is insane.
22:21
This is crazy. Does not surprise me, though.
22:24
We did have a press release by Microsoft asking their
22:28
shareholders to vote like, hey, wait a second, we're a
22:31
technology company. MicroStrategy is a technology
22:34
company, but they're out. They've outperformed our stock
22:37
by three, 100%. Should we hold Bitcoin?
22:41
And then, of course, Michael Saylor actually instigated.
22:44
He actually poked at the Microsoft CEO and calling him
22:48
out in public on Twitter saying, hey, listen, if you want to
22:51
provide the next trillion dollars of of shareholder value,
22:56
you got to buy some Bitcoin, Hit me up.
22:58
I'll show you how. So kudos to the Chad sailor.
23:02
And of course, you know, put up or shut up.
23:04
Here are the numbers. The numbers don't lie.
23:07
Annualized asset performance Chart Over four years
23:10
MicroStrategy is up a hundred 101 every single year.
23:16
This is the annualized asset performance.
23:18
So 101 percent since they adopted Bitcoin August 10th
23:24
2020, Bitcoin is up 51%. The tech the the the tech ones
23:31
are up 7%. The SNP is up 14%, real estate
23:35
is up 10%, gold is up 7% and bonds is down 5%.
23:41
I don't know why anyone would buy bonds, to be honest.
23:44
But yeah, I mean, Chad sailors absolutely crushing it.
23:47
Guys, I'm telling you, I'm making a call.
23:50
I'm making a prediction. You guys know simply Bitcoin is
23:53
tomorrow's Bitcoin used today and I'm making it.
23:56
I'm calling an Opti. I think that this cycle we're
24:00
going to see established big name companies pile into Bitcoin
24:07
because once the bull market Revs up, Michael Saylor is going
24:11
to, I mean, look, he actually overtook Coinbase.
24:15
I think he's already in the Fortune 500.
24:17
He, he, it's going to continue to outperform, especially if he
24:22
continues using the infinite money glitch that he has been
24:25
using. Like man, it is game set match.
24:30
These companies are not going to have a choice but to follow in
24:34
the footsteps of Michael Saylor. I mean, again, this is
24:39
capitalism, ladies and gentlemen.
24:40
This is the free market. Michael Saylor didn't buy
24:43
Bitcoin because he was like, Oh my God, you know, separation of
24:47
no, no, no. He bought Bitcoin because he was
24:50
like, listen, my company has been going sideways for the
24:55
better part of 20 years. This is my indication.
24:59
This is my vindication. Look, Sailor's company, he, he
25:06
had a great.com bubble, you know, performance it peaked at
25:10
like $200.00. But since 2001, this company
25:14
essentially has been going sideways, right?
25:18
You know, literally since 2010 to 2020 it, it's been at
25:24
$1116.00 when he adopted the Bitcoin strategy.
25:28
I man, what is this, like a 24 year vindication?
25:32
Yeah, I mean it. The data speaks for itself.
25:35
His stock was at $11.00 in 2020. Then when he announced the
25:39
Bitcoin strategy, it peaked at 96.
25:41
It came back down during the bear, it went down to $13 and
25:45
then once the bulls started taking off again, it's back at
25:47
$234.00. You cannot ignore that.
25:51
If you're an executive, you could ignore that at your own
25:55
peril. That's what I would say
25:57
personally, simply Bitcoin. As a company, we are on a
26:00
Bitcoin standard. Great decision and I I would say
26:04
look, if you own a company, even as an individual, adopt A
26:07
Bitcoin strategy, Put a portion of your savings of your treasury
26:12
into Bitcoin. Talk to me in four years and
26:15
tell me it's a bad idea. Try it.
26:18
It's not financial advice. Just try it.
26:20
Try it. Maybe it's a good idea to get
26:24
some just in case it catches on. Anyways, Opti, what's your take
26:27
on all this brother? Well, I mean that chart that you
26:31
just pulled up is absolutely incredible.
26:33
It looks like Masters about to or MicroStrategy.
26:37
Sorry MSTR is about to blow past its.com bubble price.
26:42
Which is just. Absolutely crazy though, I can,
26:45
I can already hear like the normies right now of just like,
26:48
oh, Bitcoin's a bubble, you know, look at look at the MSTR
26:50
stock price. It's about to get up to the.com
26:53
bubble price. Like, oh man, it's going to be,
26:56
you know, it's history's repeating here and and it's
26:59
like, no, you just don't understand.
27:01
It's a new paradigm. You know the what's that?
27:03
I keep butchering Carlos Mattos, but we no longer live in the
27:07
world we once did. Like this is a new era.
27:09
But you know, on the the master micro strategy MSTR stock price,
27:15
like it's absolutely incredible what it's doing right now.
27:18
And look, I don't hold any stocks, but like what Michael
27:22
Saylor is doing, it is it's dude, it's making me want to buy
27:27
some MSTR even though like I'm not going to because I feel like
27:30
I already, you know, I'm going to buy the top and then it's
27:32
going to drop. And I'm, you know, you know, I'm
27:34
not going to let go of my Bitcoin to buy MSTR here.
27:37
But man, the stock price is doing incredible stuff.
27:40
And all of the stuff that Michael Saylor's announcing for
27:42
micro strategy, it's like, man, could this stock price go even
27:47
higher? Like I think that's what
27:48
everyone's doing. And I've seen a lot of people
27:50
kind of rotate from Bitcoin into MicroStrategy, which I probably
27:54
wouldn't recommend for people. But if you do have some, you
27:57
know, some Fiat in whatever other stocks, then you probably
28:01
should buy some MSTR. But yeah, he's definitely doing
28:05
a good job of incentivizing Bitcoiners to sell their Bitcoin
28:09
to buy some MicroStrategy stock. Like, I mean that outperformance
28:14
is crazy and. It's leverage, it's leveraged
28:17
Bitcoin like this is that this is how everyone should take a
28:20
look at it, right? So if Bitcoin goes up 10%,
28:24
Sailor stock will go up 20, right?
28:27
If Bitcoin goes down 10%, sailor stock will go down even though
28:31
it hasn't gone down actually. So maybe I'm wrong there because
28:35
people are seeing the future potential of this, but I mean,
28:37
it's literally a hockey stick up.
28:40
Kudos to Michael Saylor. I've had the, I don't know if I
28:45
could say that, but yeah, he's a great guy, say.
28:49
It no, I don't even know. What you're saying, I don't even
28:51
know what you're saying, but yeah, he's a great guy.
28:54
I've had the privilege to, I could say this, I've had the
28:57
privilege to be able to meet with him a couple times and and
29:01
chat and it's been great. Really, really, he's done so
29:04
much for the movement, but something else to keep in mind,
29:08
ladies and gentlemen, and I, I want you guys to really
29:11
internalize this. There are two things happening
29:13
right now. Bitcoin as an investment.
29:16
This is this is where Michael Saylor is, you know, he's, he's,
29:21
he's killing it right now and he's proving it to the
29:23
traditional financial world. And there is Bitcoin, the
29:28
revolution. This is where simply Bitcoin,
29:30
this is what we believe in. Obviously, you know like Opti
29:34
and I have been doing this for a while, you benefit from number
29:36
go up. We're on a Bitcoin standard, our
29:39
companies on a Bitcoin standard. So we obviously benefit from
29:43
number go up. However, where we are focusing
29:48
on and all our partners, all our sponsors, we choose them very
29:51
diligently, really wholeheartedly believe in
29:56
Bitcoin the revolution, right? And Bitcoin the revolution is
30:00
Bitcoin in self custody that will make you a sovereign
30:05
individual, right? So you put Bitcoin into self
30:08
custody, you get yourself a node.
30:11
We recommend the start 9. There's a promo code down below
30:14
13% off, and so you don't have to trust anyone else's copy of
30:19
the blockchain. You get yourself a hardware
30:21
wallet, you take back your financial sovereignty.
30:24
But those two things are happening at the same time.
30:26
Bitcoin as an investment and Bitcoin the revolution, right?
30:30
We want the revolution to happen because Optin are millennials,
30:33
right? You know, I just had my first
30:35
kid. We want a better future for the
30:37
future generations and I don't want my daughter to live in a
30:43
future of central banking. Central banking, inherently it
30:47
fuels the war machine. It's modern day slavery.
30:51
We have to end that, We have to end that.
30:53
And the way that we do that is more and more individuals
30:56
reclaiming back their financial sovereignty by taking Bitcoin
31:01
into self custody. Anyways, ladies and gentlemen,
31:03
stay tuned for the news. We have lots to talk about
31:06
today. It's going to be a great show.
31:07
If you guys have been enjoying it so far, make sure to smash
31:10
that like button. Really, really helps with the
31:13
YouTube algos. All right, everybody, we'll be
31:15
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All right, everybody. So let's talk about this.
33:55
This is the topic that me and Opti have been.
33:59
I mean, bro, we absolutely effing nailed this topic and we
34:04
called it and we've been telling you guys that what what we're
34:09
living through as the human race as a species is the
34:14
disintermediation of information and the disintermediation of
34:18
money. Before the way that information
34:22
worked is that there was a handful of legacy media outlets,
34:26
whether those were newspapers or legacy media TV.
34:30
And because there was a handful, it was very easy for them to be
34:34
Co opted either by special interest or by politics.
34:39
But what happens is when there's millions of people, I mean
34:42
millions of people talking peer-to-peer on a massive scale,
34:48
how do you Co-op Joe Rogan? Like doesn't he doesn't need
34:53
dudes paid, right? And he knows fundamentally,
34:57
because this is the beauty of the Internet, guys.
35:00
It takes a long time to build up your reputation.
35:02
A very long time. It takes 30 seconds to lose that
35:07
reputation. And when to lose that
35:09
reputation, good luck. Because those people that are
35:13
tuning into you for news or for content, they're just going to
35:17
get up and go tune into somebody else.
35:19
That's what's going to happen. So anyways, here's Elon Musk.
35:23
Elon Musk has been, he's been rallying for this upcoming
35:28
election, which we'll we'll talk a little bit more about during
35:31
the culture segment. And he had something to say
35:34
about the legacy media. Let's check it out.
35:37
I mean, I, I do, I do, I do think like that, that that old
35:40
school journalism, I call it the legacy media because it is kind
35:43
of legacy media because it is. It is from a time when in order
35:47
to learn any news, you had to aggregate the news to some
35:51
central publication. And then then some editor would
35:54
decide what people should hear. And then they're print the
35:57
newspaper with like a lot of lot of paper, literally, and then
36:02
distribute that paper. And that's how you learn things.
36:05
But you obviously don't need that anymore.
36:06
You've got the Internet, so anyone can learn anything at any
36:09
time. Yeah.
36:11
That's why X is the future. It's it's, it's citizen
36:14
journalism where you hear from the people, it's by the people
36:18
for the people. That's what it's all about.
36:27
I think this is this is a super, super big deal and it's
36:31
absolutely fundamental and transformative.
36:32
Oh, hey Nico. Hey Nico, It looks like the
36:34
audio isn't playing the news. And what?
36:38
You haven't been able to hear this.
36:40
Yeah, apparently not. I I just checked on Twitter too.
36:43
Oh no, that's not good. Send me the link, let's see if I
36:46
can do it. That's not good here anyways.
36:51
OK, let me just read you this guys to to to save you.
36:54
I apologize. We'll we'll make it better next
36:56
time. So anyways.
36:57
Legacy. Wait, maybe they do hear it.
36:59
Someone says they can hear it all right.
37:00
Just keep playing it. Keep playing it.
37:02
OK, I see the sound bars on my end so.
37:04
Yeah, I was hearing it. Because the legacy media is
37:09
basically, you know, controlled by a handful of editors in
37:12
chief. That's it.
37:13
They decide what's going to get published.
37:16
That's why I really encourage everyone out there to, to, to
37:20
write stuff on the X platform and other platforms too.
37:23
But citizen journalism is the future, you know?
37:27
And that's where you get to hear from actual experts in the
37:29
field, people who are really who.
37:31
So again, legacy media is the future.
37:34
I mean, sorry, independent media, citizen journalism is the
37:37
future. You are, I can't emphasize this
37:39
enough, OK? You are the, you are the media
37:43
now, Anon. If you have a Twitter account,
37:46
if you have a YouTube channel, you have any type of presence on
37:49
social media. And again, I think Elon's right
37:52
here too. But remember, platforms like
37:56
Noster take this a level above because now you don't even have
37:59
to rely on on acting in good faith.
38:03
Like platforms like nostril is like it's similar to the
38:06
Bitcoin. Like you can't even censor
38:08
speech. So if you can't get, if you
38:10
can't pull certain type of speech down, what it is, it's a
38:14
forcing function for tyrants instead of tyrants saying like,
38:18
I don't even want to argue with that.
38:20
I'm just going to make it go away.
38:22
What happens when you can't make it go away?
38:24
You're forced to have to address it.
38:27
And if you're up to no good, if you're up to potentially lying
38:31
and manipulating the public for your own benefit, you know, it's
38:37
like, and it gets exposed and you don't really have a good
38:40
response, which is why I focus so much on the idea of inflation
38:45
because I don't think governments have a good response
38:47
towards it. Like we've already agreed to
38:49
income tax. We have not agreed to the money
38:53
tax, which is what inflation is. Yeah, I mean, it is a pain in
38:57
the ass. This is why you had Elizabeth
38:59
Warren. Sorry, Hillary Clinton basically
39:03
making the case. We've played you, guy, this
39:04
video many times saying like, look, if we don't censor social
39:09
media, we're going to lose control.
39:11
You know, what's even more troubling too, is the current
39:14
candidate, one of the candidates for the Democratic Party.
39:19
She doesn't believe in, in, in, in, in speech.
39:22
She actually believes that social media platforms should
39:27
censor certain types of speech. Let's check it out.
39:29
All of these social media companies and these online
39:34
platforms, which are so powerful in their ability to impact
39:38
perception about an issue and to influence behaviors, Let's be
39:42
clear about that. There have to be standards and
39:45
he and his account should be taken down.
39:47
We saw in El Paso that that shooter in his manifesto was
39:52
informed by how Donald Trump uses that platform.
39:55
And this is a matter of corporate responsibility.
39:58
Twitter should be held accountable and shut down that
40:00
site. It is a matter of safety and
40:02
corporate accountability. Thank you, Senator Warren, you
40:05
can respond. So, Lord, I don't just want to
40:07
push Donald Trump off Twitter. I want to push him out of the
40:10
White House. That's our job.
40:13
But the way join me in saying that his Twitter account should
40:15
be shut down. Let's figure out no, why it is
40:19
that he has he has lost his privileges and it should be
40:21
taken down. And, and the bottom line is that
40:24
you can't say that you have one rule for Facebook and you have a
40:26
different rule for Twitter. The same rule has to apply,
40:29
which is that there has to be a responsibility that is placed on
40:33
these social media sites to understand their power.
40:37
They are directly speaking to millions and millions of people
40:41
without any level of, of, of oversight or regulation and that
40:46
has to stop. Donald Trump has 65.
40:49
I don't want to get into the the whole politics of it because I,
40:52
I, I'm aware that it's very heated that this election
40:56
happening and whatever, but I do find it very troubling that a
41:01
potential U.S. President is advocating for
41:06
censorship. And I do want to talk about the
41:10
First Amendment. The reason that it's written,
41:13
and I'm going to quote it, says Congress shall make no law
41:15
respecting an establishment of religion or prohibiting the free
41:19
exercise thereof, or abridging the freedom of speech or the
41:23
press or the right of the people to peacefully assemble and to
41:27
petition the government for redress of grievances.
41:30
Now, here's the thing. Is that perfect?
41:34
No. Is free speech perfect?
41:37
No. Is the way that Bitcoin operates
41:40
perfect? No, it's not perfect.
41:42
The reason it's not perfect is because with Bitcoin, you have
41:46
to get away. You have to you, you have to get
41:49
comfortable with even your first, your worst enemies using
41:55
Bitcoin and you can't censor them with nostril.
41:59
Same thing you have to be OK with everyone using nostril and
42:03
you can't deplatform them. You can't censor them.
42:07
And the 1st Amendment, the founding fathers in the United
42:10
States had the wisdom to come to the understanding and they
42:13
realized this isn't perfect. However, if we give government
42:20
the power to get to dictate what is the truth and what is not the
42:26
truth, that will lead to tyranny.
42:30
And if the last four years or so, I don't want to get into
42:34
specifics. It's not a political show.
42:35
But if the last four years have shown you anything about certain
42:41
types of articles or certain types of people being censored,
42:46
and then after the fact it turns out that they were right, it
42:50
should tell you everything you need to know about what happens
42:53
when the government gets into the business of dictating what
42:58
is information, what is not in misinformation.
43:00
I can't bring this up because This is Money related.
43:03
Do you remember when they printed a ridiculous amount of
43:06
money and the Bitcoiners called it out?
43:10
Do you remember what they said about us?
43:14
They said that Bitcoiners are propagating misinformation
43:20
because there is going to be no inflation.
43:24
A year later, there was a record amount of inflation.
43:26
How did we know? Because they debased the
43:28
currency. But they were saying that that
43:31
was misinformation. So we shouldn't live in a world
43:37
where what the government says is the truth and you can't
43:43
question it. That's a very slippery slope.
43:46
History has shown that I want to live in a world that perhaps
43:51
it's a little bit messy, perhaps it's not perfect, but at least
43:55
you're able to speak your mind and let the free market of ideas
44:00
get to decide what is the truth and what is not the truth.
44:04
Because our so-called betters are so-called people that we the
44:09
fact checkers, they've been caught time and time and time
44:13
again, not in the business of making sure things are true, but
44:20
they've been caught in the business of playing politics for
44:24
political gain, right. So anyways, I do find that very
44:29
troubling. And again, you know, ever since
44:32
Elon has taken over Twitter, like always pay attention to
44:37
when the flock is over the, the, the, the flock is heaviest over
44:40
the target, right? So a collection of the negative
44:43
headlines from the Trump acts Elon spaces, right?
44:47
And here is every legacy media platform just absolutely, you
44:52
know, shitting on the spaces that Trump and Elon had that
44:58
broke record numbers over this past week weekend.
45:01
I don't know if you guys have saw it.
45:02
Donald Trump went on the Joe Rogan podcast.
45:05
And for some reason, that interview was was, I don't know
45:09
for certain, but it seems like if you were to, if you were
45:12
trying to search it, it wasn't popping up on search results,
45:16
which was quite interesting to say the least.
45:21
And here is the last bit from Turdemester.
45:25
And again, you know, Elon is talking about Starlink and how
45:28
Starlink is going to give cell phones direct access to the
45:32
Internet and all this. Turdemester says the wireless
45:34
revolution is throwing wrenches into Internet censorship.
45:38
Soon every phone user has the ability to connect directly to
45:42
international satellites, to other phones and to pay
45:45
decentralized payment rails. So what you're seeing, ladies
45:49
and gentlemen, is again, this theme that I've been talking
45:52
about over the last couple of months, the great
45:55
disintermediation. And in the old world and the
46:00
analog world, there was a handful of banks, there was a
46:03
handful of media outlets and it was very easy to governments to
46:06
come in and Co opt those, those those choke points.
46:11
But what happens when you have peer-to-peer communication?
46:15
What happens when you have peer-to-peer money who who do
46:18
you Co opt who do you who do you like who are you able to to get
46:22
control of And because they're not able to control of it, the
46:27
the cat's out of the bag, right? They they start it's Hillary
46:30
Clinton's words not mine, right Christine Lagarde's word there's
46:33
an escape valve Hillary Clinton we will lose control.
46:37
That's what happens, right? And they would like to make you
46:41
believe that the world will spontaneously catch on fire if
46:46
there isn't a group of elites dictating what is true and what
46:49
is not true. I would say the 20th century is
46:54
an example of that catastrophe of a a bureaucratic elite
47:00
getting to dictate the terms. I think it's time for this very,
47:05
very strong power to be given back to the people so that
47:10
information is by the people for the people.
47:13
So that money is by the people for the people.
47:16
I think the era of the nation state dictating information and
47:20
dictating money is coming to an end.
47:24
And I think the world is going to be a much, much better place
47:28
for that. And don't let them to even try
47:32
to make to try to gaslight you into thinking otherwise.
47:36
We gave them 100 years. They gave us two world wars, 1
47:40
recession and one depression. OK, it's time to try something
47:46
new. And so far the results have been
47:48
great. Now all that being said, I think
47:51
there's going to be unintended consequences.
47:55
I just don't know what they are yet.
47:57
But as a millennial who's been screwed over by the 2008
48:01
financial crisis, you know what? I'm sorry.
48:04
I just don't believe you guys anymore.
48:07
I don't believe you guys anymore.
48:08
And it's time to try something new.
48:10
Opti, what's your take on all this, brother?
48:12
Well, my first thought is kind of a troll and I've been
48:14
trolling it for a while. Ever since I've saw, I've seen
48:17
this attack on free speech, the attack on Musk and freeing the
48:21
bird, you know, quote, UN quote. We've seen a, a huge trend
48:25
towards this idea that, you know, we need to protect people
48:28
from misinformation. You know, like you're not an
48:31
adult and you don't have a brain and you can't parse through
48:34
information. Remember what they said?
48:36
Like don't do your own research. Like that's bad.
48:38
That makes you an extremist. They've been calling us all
48:40
kinds of different names because we just don't trust the media
48:43
anymore. And like I was saying, you know,
48:44
I, I've been trolling on Twitter for a while.
48:46
It's like make yellow journalism great again.
48:48
I think few people understand how the past has been.
48:52
It's only relatively recently as well.
49:00
Hold on. What?
49:02
No, hold on, Nika. I I don't know.
49:04
You're what you're chatting about.
49:06
But let me see, it's only relatively recently that we
49:11
haven't had like a huge yellow journalism wing out there.
49:15
And this is what everyone is, is kind of so afraid of, of like,
49:19
oh, there's so much bad information out there.
49:22
And you know, we, we need to protect the viewers and, and
49:25
protect the audience and all that.
49:27
And it really just goes to show that people aren't trusting the
49:30
institutions anymore. Remember in the beginning of the
49:32
week, we got the the opinion piece by Jeff Bezos at the
49:36
Washington Post basically, you know, saying like, don't trust
49:40
podcasters and, you know, no one trusts what, what was the
49:43
headlines like America's, Americans don't trust the media
49:46
anymore. And, and you know, it, it came
49:49
out kind of like a good thing that this is what we've been
49:51
talking about for a long time on the show.
49:52
I guess it's more vindication of the things we say here on simply
49:55
Bitcoin is that only the boomers out there really care about what
49:59
comes out of the television or comes out of the corporate
50:02
press. And all the young people are
50:04
getting their information on Twitter, hence why they're
50:06
freaking out, hence why they want to control the Internet.
50:08
They want to control speech because they can't control the
50:11
narratives anymore. And I mean, I think that
50:14
Washington Post opinion piece by Jeff Bezos is just like clear
50:17
sign to what we've been saying for a long time is that most
50:20
people don't trust the media. They realize it is propaganda.
50:23
They're getting their information from podcasts.
50:25
They're getting their information from social media.
50:28
And if, you know, Bezos is being honest here and is taking a hard
50:33
look at himself in the mirror, realizing that, hey, some things
50:36
need to be changed or else a legacy media is just completely
50:40
going to be, you know, relegated to just fake news out there and
50:45
no ones going to listen to them anymore.
50:47
And obviously, there's tradeoffs here.
50:48
It's not all good, but again, kind of trolling.
50:51
Like I, I do think there will be a lot more misinformation, quote
50:55
UN quote, you know, yellow journalism is, is a thing.
50:58
There's going to be a lot of satire and people aren't going
51:00
to be able to realize what is going on.
51:02
But that's what happens when you get a lot of free speech.
51:05
And then it's up to us to obviously have critical thinking
51:09
and look at the information and make decisions for ourselves.
51:12
But I think that on the long enough time frame or even on a
51:15
short time frame, this is all good.
51:16
I think humans should be able to communicate more and I think it
51:20
it's good that the media is being decentralized and they
51:23
can't peddle their narratives and, you know, basically dupe
51:27
society. This is a good thing.
51:28
This is a good development. But hey, there's obviously going
51:32
to be some some rocky moments. And it is what it is.
51:35
That's that's the that's the beauty of free speech here.
51:38
Of course it's, it's because, you know, they would like to
51:40
make the the argument that it's dangerous and it's whatever.
51:43
Look, I would say I can see the fact that yes, it is messy.
51:49
The thing is like if you contract, if you contrast the
51:52
both of them, right. If the so-called gatekeepers are
51:57
betters, the people that you know are in charge of of the
52:00
fact checking and whatever. If, if they had a, if they had a
52:08
good track record of being accurate, it'd be one thing.
52:15
If they were apolitical, could be one thing as well.
52:19
But history has shown that they've been anything but those
52:24
things. But they stand on their high
52:27
horse and they say, you know what?
52:29
We are the factor. It's like, no, you're not bro.
52:31
You're not even being honest. So if you're not being being
52:34
honest, I would rather have free speech.
52:36
I would rather have free speech in any situation, you know.
52:39
So anyways, guys, stay tuned because we have a lot to talk
52:43
about. Today.
52:44
We got contacted by Lynn Ulbricht, the mother of Ross
52:47
Ulbricht, and she had a special request for us.
52:51
So we're going to try to play that video on the show.
52:53
Let's get to the culture. Here we go.
53:07
All right, ladies and gentlemen, I do want to give a shout out to
53:09
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Stack friends who stacks that All right, everybody, so let's
54:18
talk about this and OK, so let me give it a little bit of
54:22
context. And I saw also that the video
54:26
that she that she sent me was pulled down from YouTube.
54:29
So Opti, we should probably should probably watch in the
54:35
back end to see if it's kosher. I I watched it.
54:39
It's yeah, it's it's good. Yeah, it's minor.
54:42
OK, awesome. So.
54:44
Yeah. So.
54:45
OK, So Lynn Albrick reached out to me yesterday.
54:48
Lynn is Ross Albrick's mom. Ross has been in prison for over
54:54
a decade, and he's in a supermax prison.
54:58
Meaning what prison that they put you with like terrorists and
55:02
you know, and all these horrible people have committed all these
55:04
crimes and you know, I, I don't think that it was fair that Ross
55:11
got two life sentences for what he did.
55:15
That was completely unreasonable.
55:17
I think the judge was trying to make an example out of him.
55:21
And I think that the judge was trying to scare people out of,
55:26
of, of this new found freedom that the Internet has given
55:29
individuals. And this perfectly aligns with
55:32
what we were just talking about in terms of free of speech and
55:34
all that. Listen, the way that you guys
55:41
should see it is the modern nation state.
55:46
And this is a passage from sovereign individual sees us as
55:50
tax cattle, right? They, they see us as, as their
55:53
playthings essentially. And information technologies,
55:59
the Internet, Bitcoin has moved the balance of power from the
56:06
state, and it's moving it back into the hands of the
56:09
individual. The Overton window is shifting.
56:14
Trump said the other day that he's open to removing the income
56:18
tax altogether. He's open to removing the tax on
56:23
Bitcoin altogether. Now, if you compare to what the
56:27
central banks are saying, they're saying like, if this
56:30
Bitcoin thing succeeds, we won't be able to keep control of
56:35
society. So again, it, it, it all relates
56:37
and and it reminds me of this of, of something that Jeff Booth
56:40
says, which is like look like in a system of theft, that said
56:47
system requires coercion. It, it, it, it, you can't get
56:53
people to willingly go along using a system that forces you
56:59
to use the money that is designed to steal from you to
57:04
steal your purchasing power. That's what inflation
57:07
fundamentally is. And on top of that, there's the
57:11
income tax, which is law, right? It is, it's, it's law.
57:16
You have to do it. But the income tax was sold to
57:22
us back in 1913, which coincidentally was the first,
57:27
the same year that the Federal Reserve was established.
57:29
Right call coincidences. And it was sold to bring
57:35
stability to markets. The worst depression in American
57:42
history, in world history happened under the Federal
57:46
Reserve. The worst world wars happened
57:50
under the Federal Reserve. You can make a very strong
57:53
argument. You can't have a World War
57:56
without the government's ability to just print money.
58:00
You can't have it. The government will run out of
58:03
money. You this whole thing it, it
58:06
changes on its head, right. So what you're really seeing is
58:10
a fight between the old system, a system of control, a system, a
58:14
usury, a system of endless wars, a system of pessimism and
58:18
nihilism versus system of opportunity, peace, prosperity,
58:24
hope. Why is it that the first country
58:28
that made Bitcoin legal tender was attacked?
58:31
Why is it that Elon Musk, when he freed, you know, he bought
58:37
Twitter? Why is it that now he's being
58:39
attacked left and right? Why is it that when Javier Malay
58:42
was elected he was attacked left and right?
58:46
Why is this happening? Why is it that the first
58:51
president that is pro Bitcoin introducing the idea of ending
59:00
the federal income tax, the 1st president that didn't go to war
59:06
in a very long time, why was he the one that was almost
59:09
assassinated twice? So again, if you see these data
59:14
points on their own, they don't really, they don't really mean
59:18
anything. But if you start connecting the
59:21
dots and putting all these things together, you realize
59:23
that the attacks only go one way.
59:28
And the attacks are always framed in with the goal of
59:31
saying, you know what? Trust the established media
59:35
sources, those same media sources that sold us on some
59:40
very interesting things, to say the least, over the last four
59:43
years. And how come those attacks don't
59:45
go in the other direction? They're always in One Direction.
59:51
So anyways, I wanted to give a little bit of context because
59:54
what Ross is, is Ross is a martyr for our movement.
59:58
Ross was a victim of this machine that I just described to
1:00:02
you. The unelected bureaucracy, some
1:00:05
call it the administrative state, the deep state, the
1:00:08
bureaucracy that remains in power regardless of who gets
1:00:13
elected into office, that is completely funded by you either
1:00:20
either via direct taxation or money taxation, which is
1:00:25
inflation. And that just continues to get
1:00:28
bigger and bigger and bigger and bigger.
1:00:30
I think it was Elon that said it.
1:00:33
There are more federal agencies than the US has been for there
1:00:39
are more federal agencies in existence today, or double than
1:00:44
the amount of time that the US has been around.
1:00:47
So the US has been around for 200 something years.
1:00:49
There's like 400 federal agencies, which means that
1:00:52
that's like 2 federal agencies created per year.
1:00:55
That's insane, right? So again, how is this all
1:00:59
possible? Because this is possible via
1:01:01
Fiat. This is possible because they
1:01:02
control the money printer. But again, it affects you
1:01:06
because it raises the cost of living.
1:01:10
As government gets bigger because it does not produce
1:01:13
anything, it needs to be more and more and more coercive in
1:01:17
order to justify its existence. And then that translates into
1:01:21
tyranny. So Edward Snowden, Julian
1:01:26
Assange and Ross, all those three need to be freed.
1:01:32
Julian Assange was freed. Ross is on the verge of being
1:01:37
freed, depending on who gets elected into office.
1:01:40
And Edward Snowden, we're working on that.
1:01:44
But these three individuals are martyrs.
1:01:48
These three individuals represent, when it comes to
1:01:51
Edward Snowden, his crime was essentially exposing that same
1:01:58
government agencies that I described to you were actually
1:02:00
spying on American citizens, which again, again against the
1:02:03
4th Amendment. Julian Assange he released,
1:02:09
amongst other things, but he released a video of a gunship in
1:02:15
Iraq mowing down innocent civilians.
1:02:20
I mean, to be fair, they thought that they had weapons.
1:02:24
In reality, it was a camera and they were journalists.
1:02:29
And of course, Ross built a open, an open marketplace in the
1:02:35
dark web in the hopes of being able to remove the friction of,
1:02:42
you know, wanting to buy certain goods.
1:02:45
And I'm not to, and I'm not trying to make the case.
1:02:47
That's totally, you know, kosher and what not.
1:02:51
Like the law is the law. Like it is what it is.
1:02:54
You might not just say, you might disagree with it, but it
1:02:56
is what it is. But did he deserve 2 license
1:03:00
sentences? No.
1:03:02
They made an example out of him and that's the injustice.
1:03:08
That's the injustice. And they did it because they
1:03:11
wanted to go after our industry. Like they've been going after
1:03:15
our industry for the last 3 1/2 years and now we have an
1:03:19
opportunity to change it up. We have an opportunity to change
1:03:23
it. How do we have that opportunity?
1:03:25
We have that opportunity because this Tuesday, if you live in the
1:03:29
United States, you have a choice between a candidate that is
1:03:35
going to be pro Bitcoin and TCBDC and has promised to free
1:03:40
Ross day one. He tweeted this out yesterday.
1:03:46
Hashtag free dos day one came from Donald Trump's Twitter
1:03:49
account. Or you have a choice to choosing
1:03:55
the candidate which to give her credit, right?
1:03:58
She's walked back a lot of that anti Bitcoin regulation, but
1:04:02
she's in office right now. She could free Ross right now if
1:04:07
she wants to and take all the momentum out of the Trump camp.
1:04:13
The last 3 1/2 years the current administration has been
1:04:17
attacking the Bitcoin industry ruthlessly and relentlessly.
1:04:21
We have covered it diligently on Simply Bitcoin, the so-called
1:04:25
Operation Choke .2 Point O. They have denied the Caitlin
1:04:30
Long's federal banking charter. They proposed a 30% Bitcoin
1:04:35
mining tax on Bitcoin miners. They have arrested developers
1:04:41
for developers for for tornado cash and samurai.
1:04:47
They have scared away lightning wallets like like Phoenix and
1:04:52
wallet of Satoshi outside of the United States.
1:04:56
And these are just a handful of things that I'm naming, not to
1:04:59
mention the attacks on crypto friendly banks in the United
1:05:03
States. So you have a choice between
1:05:07
someone who would say, you know what I'm kind of backing up
1:05:10
versus, by the way. And her party as well has been
1:05:15
pro central bank digital currency.
1:05:18
When the Republicans passed the bill in the House that would ban
1:05:22
the Federal Reserve from rolling out a central bank digital
1:05:28
currency, it was almost every single Republican voting for
1:05:34
that bill in almost every single Democrat voting against that
1:05:39
bill, meaning they're pro central bank digital currency.
1:05:43
So we have a choice in front of us.
1:05:45
And I ask you guys to put Bitcoin over party because here
1:05:50
it's simply Bitcoin. We're single issue voters.
1:05:52
And I, I know what I'm doing on November 5th.
1:05:56
I'm voting to free Ross. That's what I want to do.
1:05:59
It's time to get this guy out of prison unjustly.
1:06:05
So anyways, Opti, you had to give a little bit of a of a.
1:06:07
Yeah, yeah, man. Play the video.
1:06:09
A little bit. I don't have it.
1:06:10
Do you have? It oh, it's up here, it's up
1:06:11
here. I'll play it.
1:06:14
This will be the crypto capital of the planet.
1:06:17
One candidate for president embraces Bitcoin and.
1:06:21
I will commute the sentence of Ross.
1:06:23
One candidate for president has pledged to free Ross Ulbricht on
1:06:28
day one. By doing these two things, this
1:06:31
candidate will not just make America great again, but also
1:06:34
make the world free and peaceful.
1:06:37
That candidate is Donald J Trump.
1:06:40
I want everybody to stop dying. They're dying.
1:06:45
Russians and Ukrainians. I wanted to stop dying.
1:06:48
And I will. Put a libertarian in my cabinet
1:06:52
and also libertarians in senior posts.
1:06:57
We liberty folk are the cavalry. On November 5th, with God's
1:07:02
help, let's vote this gentleman back into office.
1:07:10
All right and shout out to Lynn. So Lynn asked me to ask send me
1:07:13
that video. She she wanted me to play it on
1:07:16
the show and Lynn, we're going to free your son.
1:07:20
So guys, I I, you know you and you were here with the famous
1:07:25
optigate. If you guys have been tuning
1:07:27
into simply, I tried for a very long time to remain neutral and
1:07:35
not choose a side and I pressed all my guys including Ruston and
1:07:40
Opti to remain as neutral as possible.
1:07:45
I broke the day that they put the samurai wallet guys in
1:07:50
prison. And as soon as the, as soon as
1:07:55
Trump came out and said that he was going to free Ross on day
1:07:59
one, I said, you know what, like I'm not talking about all his
1:08:05
other policies. He's not perfect.
1:08:07
I'm a single issue voter, but it's either free Ross or don't
1:08:11
free Ross. I, I don't know how else to say
1:08:13
it. And, and, and people get very
1:08:15
upset. They're like, and then my
1:08:17
response to those people is like my response to those people is,
1:08:23
is OK, so don't free Ross. Like like it's a binary choice.
1:08:31
It's a two party system. Like it is what it is, you know,
1:08:36
is it perfect? No, but you have a choice like
1:08:40
we either free Ross or we don't free Ross.
1:08:43
I'm going to I'm going to vote to free Ross, Right.
1:08:45
And you know, Opti, are you going to vote?
1:08:50
I'm actually not registered to vote I I don't have an ID in
1:08:53
Texas, so throw all the tomatoes you want at me.
1:09:01
Right, dogs. Dogs.
1:09:02
But to the point though, I've been saying this for the last
1:09:06
couple of days, you know, if you do look at both of the
1:09:09
administrations running right now, both presidential
1:09:12
candidates, obviously the Republicans have come out as
1:09:16
being very pro Bitcoin. And again, I said this
1:09:19
yesterday, or was it yesterday, maybe it was 2 days ago, but
1:09:22
personnel equals policy. And as we can tell with the
1:09:26
Trump administration, there is Bitcoiners within the Trump
1:09:29
transition team this morning, JD Vance, you know, it was a
1:09:33
Bitcoin news he's holding around, I don't know, like 250
1:09:36
KA Bitcoin. You know, Trump as famously came
1:09:40
out and said he's going to protect Bitcoin.
1:09:42
Howard Leitnick's on the transition team.
1:09:44
So there is, you know, there is things that you could argue are
1:09:47
bad from the Trump administration, but we know that
1:09:50
within the camp there are ardent bitcoiners there.
1:09:53
And so if you're a single issue voter, it seems like a simple
1:09:57
easy choice. It is one side that is Pearl
1:09:59
Bitcoin and the other side that that is anti Bitcoin.
1:10:02
So I think the choice is pretty clear.
1:10:05
Yeah, yeah, it's, yeah. I mean, I don't, I don't know
1:10:10
what else to say on this topic. And I and I honestly can't wait
1:10:12
for the election to be over so we don't have to talk about this
1:10:16
stuff. But yeah, I mean, this is a
1:10:19
separation of money and state. It was going to eventually get
1:10:22
political. There have been many victims on
1:10:26
on the Bitcoin side and you know, hopefully getting a pro
1:10:31
Bitcoin president in the White House who who part of his donor
1:10:36
base are bitcoiners. I think it's going to be great.
1:10:39
And I mean, he did tweet this out the other day.
1:10:42
He did tweet this out yesterday. You can go out on Twitter and he
1:10:49
said, I would like to wish our Bitcoiners a happy 16th
1:10:53
anniversary of Satoshi's white paper.
1:10:55
We will end Kamala's war on crypto and Bitcoin will be made
1:10:58
in the USA. Vote Trump, hashtag Bitcoin,
1:11:01
hashtag free Ross day one. Is it pandering?
1:11:04
Absolutely, but that's what politicians do.
1:11:06
They pander, especially if their donor base is Bitcoiners, right?
1:11:11
That's kind of how it works. So anyways, guys, love you.
1:11:17
Hope you guys have an amazing weekend and you know this, this
1:11:20
next week is going to get gnarly.
1:11:23
I'm calling it right now and but for the first time in Bitcoin's
1:11:29
history, the this outcome will have an impact on Bitcoin
1:11:34
regulation in the United States. And again, this isn't just me
1:11:36
saying this. We had the CEO and chairman of
1:11:41
of Hive, a publicly traded Bitcoin mining company, and he
1:11:45
said it himself, right? So it's a reality guys.
1:11:49
And I know that you might not like it.
1:11:51
I know that it might be messy and blah blah blah, but our job
1:11:54
is to report the news and keep you guys up to date and it is
1:11:58
what it is. Anyways, guys, if you guys
1:12:00
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1:12:42
I anticipate is going to be a gnarly week.
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