Latest / Simply Bitcoin / ETF Approved! Saylor: $5M Bitcoin Incoming!? | EP 902

Transcript

ETF Approved! Saylor: $5M Bitcoin Incoming!? | EP 902 · Simply Bitcoin

• 0:03
  It's all going to zero against Bitcoin.
• 0:07
  It's going up forever. You're against Bitcoin.
• 0:17
  You're against freedom. Yo, welcome to another.
• 0:22
  Episode of Simply Bitcoin Live. We are your number one source
• 0:26
  for the peaceful Bitcoin revolution of color, Breaking
• 0:28
  news, culture, Matic Warfare. We will be your guide through
• 0:32
  the separation of money and state.
• 0:35
  Today is a historic day. Bitcoin is officially trading on
• 0:41
  Wall Street. If you're a boomer, you can get
• 0:43
  exposure. We're going to get into the
• 0:45
  details in fact a lot of a lot of brokerages are are still even
• 0:50
  though it's trading now they're still not offering it to their
• 0:53
  clients. So we're we'll breakdown all the
• 0:55
  details of of all that but the thing that I really wanted to
• 0:59
  focus on today like the theme of the of today's episode is
• 1:04
  bitcoins irresistible incentives.
• 1:07
  The Trojan horse was just let in.
• 1:09
  I, I, I tweeted out as like as a meme earlier this morning and I
• 1:13
  put, you know, the the Trojan horse from the movie Troy.
• 1:16
  I put laser eyes and it's a testament to bitcoin's
• 1:20
  incentives and bitcoin's irresistible incentives.
• 1:23
  We've seen this many times. We we saw this with the China
• 1:25
  ban. I think that was like crazy.
• 1:28
  What happened, you know, nation state attack, the hash rate
• 1:31
  dropped by like 50%. I believe it's the reason that
• 1:34
  the last bull market was, you know, we didn't hit 100K and
• 1:37
  within nine months the hash rate distributed all around the world
• 1:41
  without a central authority dictating the miners to go
• 1:44
  everywhere. It was bitcoins incentives
• 1:46
  alone. And once again, what you're
• 1:49
  seeing is bitcoins, incentives, capture firms like BlackRock
• 1:55
  that you know, with their ESG movements and all that stuff and
• 1:58
  their association with the World Economic Forum, you think like
• 2:01
  this is an evil institution, but they can't resist.
• 2:04
  It's the greed and that greed was able to overcome the
• 2:09
  government bureaucracy that did not want this to get approved
• 2:14
  like the approval letter from Gary Gensler.
• 2:18
  He sounded he sounded so salty. And other members that were
• 2:23
  sitting on the on the SEC you know Commission, they were just
• 2:27
  like I can't believe this got accepted like like Elizabeth
• 2:31
  Warren like. And I again I made another meme.
• 2:34
  You know, I mean another meme yesterday of you guys all know
• 2:38
  this like the again guys we're apolitical.
• 2:40
  We'd only left or right Republican or Democrat.
• 2:42
  We stand for the party of orange.
• 2:43
  You guys know the deal. But there's that very famous
• 2:46
  video of you know, this this lady melting down at the Trump
• 2:50
  inauguration and I put, you know, breaking Elizabeth Warren
• 2:54
  and and the thing blew up. I can't, I can't even imagine
• 2:57
  what Elizabeth Warren is thinking right now.
• 3:00
  The Trojan horse just got in, just got let inside into Troy.
• 3:07
  They don't know. They have no idea.
• 3:09
  And Alex Gladstein really wrote this amazing article called for
• 3:18
  Bitcoin Magazine called Bitcoin is a Trojan Horse for Freedom.
• 3:22
  And in that article he talks about how you know, dictators,
• 3:28
  institutions, banks, central banks.
• 3:31
  They can't resist bitcoins, incentives.
• 3:33
  But what they what they don't know what What they fail to
• 3:37
  understand is that number go up. Technology and freedom enabling
• 3:42
  technology are inextricably linked.
• 3:44
  You cannot separate the two, right?
• 3:47
  So this is a crazy time to be alive, but at the same time guys
• 3:53
  have said this many times, this might be positive for the price,
• 3:56
  even though as of now it it could have.
• 4:00
  You could make the argument that it was a sell the news event,
• 4:04
  but it could be positive for the price.
• 4:06
  In fact, I do think it's going to be positive for the price
• 4:08
  over the long term. But it's important to remember
• 4:12
  that the revolution here is Bitcoin in self custody.
• 4:16
  It's individuals taking custody of their wealth.
• 4:20
  Therefore by doing that, taking back, there's financial
• 4:23
  sovereignty rather than outsourcing it to a bank.
• 4:26
  There's this really famous expression on Bitcoin Twitter
• 4:29
  which is when you have a bank account really it's a two of
• 4:32
  three multi sig of which you hold one key, the bank holds
• 4:35
  another key and then the state holds another key, you know, so
• 4:39
  it it's really about taking control back of your financial
• 4:44
  future. So as you know the ETF hype, I
• 4:47
  think it reached the pinnacle. This thing's approved, it's done
• 4:50
  and dusted. It's important to remember that.
• 4:53
  Another thing that I also wanted to talk talk about on today's
• 4:56
  episode is there is a very famous space.
• 4:59
  I think it was a couple years ago, it was like 2021 or 2020
• 5:02
  and Michael Saylor in that space said that there was three things
• 5:06
  that needed to happen in order for Bitcoin to reach $5,000,000
• 5:10
  per coin. And those three things were a
• 5:15
  spot Bitcoin ETF approval, the FASB accounting rules change.
• 5:21
  And also the third thing was for banks, large banks to have the
• 5:27
  ability and the regulatory approval to custody Bitcoin for
• 5:31
  clients. All of those three things that
• 5:34
  happened, so we are, you know, all the all the three things
• 5:38
  that Michael Saylor said needed to happen have happened for
• 5:42
  Bitcoin to hit $5,000,000 per coin.
• 5:45
  It sounds so unfeasible at this moment.
• 5:47
  You're like, Nico, that's impossible, you know that that's
• 5:51
  a ridiculously high number. But I ask you to look back in
• 5:56
  the past. Ten years ago, Bitcoin was
• 5:59
  trading at $100. We're at $40,000.
• 6:03
  So where is Bitcoin going to be 10 years from now?
• 6:07
  Something that has absolute scarcity.
• 6:09
  Nothing in the world has that right?
• 6:11
  If the price of gold goes up, gold production goes up with it,
• 6:15
  right? If the price of Bitcoin goes up,
• 6:18
  there's a having every four years, baby, that production
• 6:21
  stays the same. It is what it is.
• 6:23
  And never have we ever seen that in in mankind's history.
• 6:29
  So I'm beyond excited. It's an honor to ride this with
• 6:33
  you guys. Looking forward to today's
• 6:35
  episode. All right, enough with the
• 6:37
  monologue. I do want to bring up my
• 6:39
  legendary Co host. He's always optimistic.
• 6:42
  He has a giant smile on his face.
• 6:43
  His name is the Optimus Fields. How you doing buddy?
• 6:48
  I'm doing great. Great.
• 6:49
  It's a very historic day. And Nika, you asked a question
• 6:54
  of what you think Elizabeth Warren is thinking right now.
• 6:58
  Well this is better markets, an NGOI believe they call it that
• 7:03
  is yeah non profit promoting economic security that Elizabeth
• 7:07
  Warren rather is aligned with Elizabeth Warren and this tweet
• 7:10
  came out yesterday. So the SEC Gov's action today
• 7:12
  has changed. Nothing about this worthless
• 7:14
  financial product, AKA Bitcoin and crypto still have no
• 7:18
  legitimate use, remain the preferred product of
• 7:21
  speculators, gamblers, predators and criminals, and continue to
• 7:24
  be cesspools of fraud, manipulation and criminality.
• 7:27
  So just love to see that she is digging her heels in there.
• 7:30
  So yeah, are we surprised? Anyways, on a totally other
• 7:36
  topic, we're seeing that of course you know the banks and
• 7:42
  and the holdouts, the the no coin is out there.
• 7:44
  They still feel the same way, they still feel self-righteous
• 7:47
  about Bitcoin and it's only a matter of time until more and
• 7:50
  more people wake up to Bitcoin actually being the economic
• 7:54
  freedom tool that it is. I Did you see the Digit
• 7:56
  Economist tweet? Nico the the what's his name?
• 8:01
  Steven Deal. You got to pull these up,
• 8:02
  brother, because. Maybe maybe I can find something
• 8:05
  real correct. But Steven Deal if you guys
• 8:07
  don't know who he is he's he's been quoted a lot of times on
• 8:13
  legacy media about just he he's basically like the guy man.
• 8:19
  No this is the wrong one. He he's the guy that's always
• 8:23
  quoted for for all the negatives in Bitcoin.
• 8:27
  He he his research quote UN quote has been used and and he's
• 8:31
  basically saying the same thing. He said something on the lines
• 8:33
  that like Bitcoin is a tool of tyranny and Fiat money is is a
• 8:37
  real tool of progress and prosperity in the future.
• 8:41
  So I'll, I'll try to pull that up for you guys throughout the
• 8:44
  show. Yeah.
• 8:45
  So we'll, we'll get to that. Also Phil C has a really
• 8:47
  important point which is listen to this.
• 8:50
  Some asset managers, compliance departments like Merrill Lynch
• 8:52
  are not letting their clients buy the Bitcoin ETFs, the SEC
• 8:56
  approved products. So we'll get to that.
• 8:58
  There's a reason for that. Just hold your horses, we'll,
• 9:02
  we'll, we we did the research for you guys.
• 9:04
  That's why you guys tuned in to simply Bitcoin?
• 9:05
  Yeah, and then and then we told you, Nico.
• 9:08
  We'll get into. We'll get into.
• 9:12
  We're gonna get into, I guess, a lot of ETF stuff today.
• 9:15
  Niko is gonna cover all the ETF news for you, and then I'm going
• 9:20
  to kind of cover more of like the framing and what you guys
• 9:23
  can do as individuals out there. So it's an ETF pack show today.
• 9:28
  Try to give you guys as as much sauce on today's show as
• 9:30
  possible. So this is going to be a good
• 9:32
  1A. 100% It's going to be a great show.
• 9:34
  All right, guys, buckle up. Let's start the show.
• 9:36
  Let's hit the numbers. Let's do this the Bitcoin
• 9:41
  numbers. Is your Bitcoin and cold storage
• 9:44
  really secure? Is your seed phrase really
• 9:47
  secure? Stamp seeds?
• 9:49
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• 9:51
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• 9:58
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• 10:31
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• 10:33
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• 10:36
  Stamp your seed on stamp, seed. All right guys, I made it
• 10:40
  incredibly easy for you guys in these moments right where we
• 10:45
  have Wall Street coming in offering these ETF products.
• 10:50
  It's never been so important to take self custody of your
• 10:55
  Bitcoin and you have to do it properly.
• 10:57
  Self custody takes personal responsibility.
• 11:00
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• 11:03
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• 11:05
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• 11:10
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• 11:13
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• 11:25
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• 11:28
  At the time of recording, the Bitcoin price is 45,830 SATS per
• 11:34
  dollar. 2182 Market cap $898 billion Declined from all time
• 11:42
  high 33.5% days since all time high 791 days Bitcoin versus
• 11:50
  gold market cap 6.69%. Supply of Bitcoin held in
• 11:55
  corporate treasuries around 10% Total Lightning Network capacity
• 12:00
  4798 Bitcoin block height 825,343.
• 12:07
  The block height makes an all time high every single show
• 12:11
  anyways, so we're. Gonna Niko, Niko, before you go
• 12:13
  into this, can I found the tweet let's.
• 12:17
  This is. I'm gonna get to that.
• 12:18
  I'm gonna have. This.
• 12:19
  That's part. That's part of the numbers,
• 12:21
  brother. OK, cool.
• 12:22
  I got you. But good.
• 12:22
  Look, we're In Sync today, brother.
• 12:24
  We're In Sync. We're In Sync.
• 12:25
  So you saw the tweet, you. Saw the tweet, I just didn't
• 12:28
  know who you're referring to. But that's literally what I'm
• 12:30
  gonna make the numbers section about today.
• 12:32
  So awesome. OK, we're In Sync.
• 12:34
  Holy crap. Opti and I have been doing this
• 12:36
  so long, we're just, you know, all of a sudden he's going to be
• 12:38
  growing a blonde tip. OK, anyways, all right, so these
• 12:47
  Wall Street just keeps making commercials about Bitcoin, which
• 12:51
  is just crazy, you know? Guys I I just I just I just want
• 12:55
  to take I want to make Opti and I you know just scream before we
• 12:59
  get to the to the sauce. OK.
• 13:02
  Congratulations anybody everybody.
• 13:05
  If you have bought Bitcoin before January 11th of 2023, you
• 13:10
  frant ran Wall Street. Frant ran.
• 13:13
  Yes. Front run, Front run frant ran.
• 13:17
  Frant ran. I'm creating a word.
• 13:19
  I guess I traded it, but there you go.
• 13:22
  So congratulations, you did it today.
• 13:26
  I saw a lot of people talking about this on Twitter today was
• 13:29
  Bitcoin's IPO. But there are no insiders,
• 13:32
  right? There's no people that are just
• 13:34
  going to dump it. And the Bitcoin that there is to
• 13:36
  buy, I think it's like 2 million on exchanges, right?
• 13:40
  The Hodlers are not selling that.
• 13:42
  I don't know about you guys, bro, but when Bitcoin hits
• 13:45
  $1,000,000 a coin, people are going to be like, you're going
• 13:46
  to sell it. I'm like sell it to what?
• 13:48
  Like that's the question. It's like when people ask you,
• 13:50
  are you going to sell your Bitcoin?
• 13:52
  What? Alright, what are you going to
• 13:53
  sell it for like dollars? Like like is that is that what
• 13:57
  you mean? Like no man.
• 13:59
  OK anyways back to this. So Wall Street keeps releasing
• 14:02
  commercials. This is the latest one.
• 14:05
  This is from Grayscale diversifying into Bitcoin type
• 14:09
  GBTC into your investment account today.
• 14:12
  Or ask your financial advisor about the world's largest
• 14:15
  Bitcoin ETF ticker. GBTC Bitcoin Investing begins
• 14:21
  here. I think that's like the worst
• 14:22
  one. Yeah, did.
• 14:24
  You see the Vanek 1. Yeah, let's pull it up.
• 14:28
  I got it. I got it right here.
• 14:29
  I got it right here. Here.
• 14:31
  I got it. Let me let me pull it up.
• 14:33
  This one. This one's actually I I.
• 14:35
  This one seemed much better than me.
• 14:38
  All right, let's start this. The world holds on to old ways
• 14:45
  until it can't. When Bitcoin was born, it broke
• 14:49
  that endless cycle. It's not a defiance of finance.
• 14:54
  Bitcoin may help guard against the government devaluing your
• 14:58
  money. Finally, you can buy and hold
• 15:01
  Bitcoin in an ETF with the Vanek Bitcoin Trust, Hodel.
• 15:05
  Search the ticker HODL in your stock trading today.
• 15:10
  That one's way better. Dude, that one I like that like,
• 15:13
  'cause they they understood a lot of like.
• 15:16
  Yeah, they're they're bitcoiners.
• 15:18
  Like they understand a lot of the like kind of like Bitcoin
• 15:23
  culture and all that. But also, did you see, did you
• 15:26
  see the BlackRock 1? I did not see it.
• 15:29
  Pull it up. I got.
• 15:31
  I got. You pull it up.
• 15:32
  Pull it up. I was gonna.
• 15:33
  OK, let's do it. Let's do it.
• 15:34
  Yeah, you you do your bit after. Let's just play all of these.
• 15:38
  Let's see Wall Street pumping our bags.
• 15:42
  This one's a little longer, though, guys, but not as good as
• 15:48
  Divanic. Digital asset adoption has
• 15:49
  significantly accelerated over the past decade, with profound
• 15:52
  implications for the future of finance.
• 15:55
  Bitcoin is the original cryptocurrency to gain global
• 15:58
  adoption and has continued to maintain its dominance despite
• 16:01
  thousands of others coming into existence.
• 16:04
  You might have noticed Bitcoin makes into our everyday lives.
• 16:07
  From Bitcoin ATMs to various merchants accepting Bitcoin as
• 16:10
  payment, further driving interest in what the future
• 16:13
  holds for the cryptocurrency, investors have taken notice as
• 16:17
  an institution's individual investors alike have been
• 16:20
  adopting Bitcoin into their investment portfolios, with some
• 16:24
  viewing it as a potential store of value and others as a
• 16:27
  potential game changer in how money moves around the world.
• 16:31
  But for many investors, holding Bitcoin directly can be complex.
• 16:35
  That's why we launched Ibid, the iShares, Bitcoin Trust and ETF
• 16:40
  that provides investors convenient exposure to Bitcoin.
• 16:44
  Here are three things to know about Ibid access.
• 16:49
  Ibid enables investors to access Bitcoin within a traditional
• 16:52
  brokerage account, just like stocks, bonds, and other ETFs.
• 16:56
  Convenience IBIT can help remove operational burdens associated
• 17:00
  with trading and holding Bitcoin directly, as well as potentially
• 17:03
  high trading costs and tax reporting complexities.
• 17:08
  Quality IBIT is built by BlackRock, a leading ETF firm
• 17:12
  with expertise across ETFs and a history of innovation.
• 17:16
  I can't take this out of it. You had to wait for that.
• 17:20
  Like didn't. We like talking about it in the
• 17:22
  internal slack. Like, bro, we make better
• 17:24
  content than BlackRock. Oh, man.
• 17:28
  All right, OK, so back-to-back to what we were talking about
• 17:32
  during the numbers segment. So yeah, so Wall Street is just,
• 17:35
  like dropping like, like these crazy commercials.
• 17:38
  It's it's it's incredible. It's really awesome.
• 17:42
  But I in other news, I kind of want to shift it because there's
• 17:46
  other stuff that's happening, which is the haters are coming
• 17:50
  out of the woodwork. First of all, I do wanna start
• 17:53
  it off with the meme Elizabeth Warren.
• 17:55
  This is a live view of her. Yesterday when the ETF got
• 17:58
  approved, we know that she was colluding with Gary Genzer.
• 18:04
  Shout out to Fox News for doing amazing reporting and
• 18:09
  discovering that don't trust, verify, guys, Don't take my word
• 18:12
  for it literally. It came out that Elizabeth
• 18:16
  Warren was was sending Gary Gensler the questions before he
• 18:21
  would testify in Congress. But this is Stefan.
• 18:25
  He is Stefan and he says. Stefan deal.
• 18:27
  Stefan deal. I think he goes by like it's
• 18:29
  like Digi economist or something.
• 18:31
  He's quoted in pretty much all of the research that corporate
• 18:35
  press and mainstream propaganda used to fund Bitcoin.
• 18:38
  And you'll see something. You'll see once again, and the
• 18:40
  ratio. And this is the power of the
• 18:42
  Internet guys. You take agency, take action.
• 18:44
  If you have a Twitter account. If you have a YouTube channel,
• 18:47
  speak up. Say something.
• 18:49
  The Internet has empowered you to circumvent the gatekeepers of
• 18:53
  information. You now have a voice and you can
• 18:56
  make your thoughts known. And again, like if you're not
• 18:59
  speaking truth on the Internet, you know you're going to get
• 19:01
  eaten alive. And that's exactly what just
• 19:03
  happened here. So he says Bitcoin represents
• 19:06
  serfdom, stagnation, subjugation to the tyranny of the
• 19:10
  discredited ideas from the Middle Ages.
• 19:12
  Fiat money represents a future of growth, sovereignty and
• 19:16
  freedom and advanced information economy.
• 19:20
  He has that like completely effing backwards.
• 19:23
  I think this is a projection. I think that he truly believes
• 19:28
  that you know, centralized control of money will be better
• 19:31
  for humanity than you know than than Bitcoin.
• 19:37
  And he and he really reveals something when he says
• 19:39
  discredited ideas from the Middle Ages.
• 19:41
  It's it's like like if money can exist of which they can't debase
• 19:47
  of which the government just can't like print at their will
• 19:52
  that's a nightmare for the central planners like I'll be
• 19:54
  honest with you. So bit of projection here and
• 19:59
  this is the, this is the last thing that I wanted to cover
• 20:01
  during the numbers segment which is you know a lot of people said
• 20:05
  a bunch of stuff and the European Central Bank.
• 20:11
  Said the digital euro is public money issued directly by the
• 20:16
  European Central Bank. Bitcoin is different.
• 20:19
  It is a speculative asset that does not fulfill the
• 20:22
  characteristics of money. So you can kind of connect these
• 20:25
  two in terms of the logic on which they're thinking.
• 20:29
  And it's basically like like, we can do your money better than
• 20:33
  you could do it for. Like we can do money better.
• 20:36
  Like as long as you give us total control, we know what's
• 20:40
  best for you, you stupid peasant.
• 20:43
  Basically. So and it goes on to say Bitcoin
• 20:47
  is different, is a speculative asset that does not fulfill the
• 20:50
  characteristics of money. I go on to respond, which is the
• 20:54
  truth, right? And shout out Sophie for giving
• 20:57
  me a like and pushing me over, pushing that over 300 and it's a
• 21:02
  nice and I responded. I said Bitcoin is a public
• 21:04
  Ledger that can be audited by anyone.
• 21:06
  Anyone can get new Bitcoin by mining it.
• 21:09
  The public cannot audit the ECB, only the ECB can create new EUR.
• 21:14
  Bitcoin is public money for the people.
• 21:17
  The euro is government money for the government.
• 21:22
  So when you see comments like this and when you see comments
• 21:27
  like this from the European Central Bank, they're status and
• 21:34
  status believe that the state can do it better, right?
• 21:37
  Bitcoin is the public money, and that's one of their talking
• 21:42
  points. And remember, like if you are
• 21:45
  not educated on the matter, if you are not informed, you will
• 21:49
  fall for that. Don't allow them to capture that
• 21:53
  argument in that narrative that Bitcoin somehow is private
• 21:58
  money. I broke it down.
• 22:01
  You can't make more EUR without going to jail.
• 22:04
  You can't audit the European Central Bank.
• 22:07
  You can't audit any central bank.
• 22:09
  They'll laugh at you. You can run a node right now.
• 22:12
  We recommend by the way Start 9. They have a deal right now.
• 22:15
  You can check the details in the video description and you can
• 22:20
  run a node. You can buy one pre built.
• 22:22
  I have the Start 9 server pure. It's badass.
• 22:24
  Highly recommend it. It's a workhorse or you can
• 22:27
  build one yourself. You could download the Start 9
• 22:30
  software on an old computer or something and run a node and you
• 22:36
  can audit the Bitcoin. You know, the Bitcoin
• 22:38
  blockchain, the Bitcoin network, whenever you want.
• 22:41
  You can find out the total supply whenever you want.
• 22:43
  You're not trusting anyone else. It is.
• 22:46
  You're running your own version of the Bitcoin software, and so
• 22:50
  that's one component. The other component is like, OK,
• 22:53
  guess what they're saying it's public money.
• 22:57
  You can't create more EUR, You can't create Fiat money.
• 22:59
  Only the government has that privilege to do that.
• 23:02
  If you invest in mining infrastructure, you can
• 23:05
  literally start mining and making more brand new minted
• 23:11
  money and and then check this out.
• 23:13
  There's no special privileges. So if you are a government, a
• 23:16
  king, an emperor, you have to get in line like everybody else
• 23:21
  and invest in mining infrastructure.
• 23:23
  If you want to mine more Bitcoin, you don't have the
• 23:25
  privilege of being able to create money for free that
• 23:29
  everyone else has to work for. So like, no Fiat money is the
• 23:34
  private money. Fiat money is the special
• 23:38
  privileged money. Bitcoin is the money for the
• 23:43
  people, by the people. That is the reality, central
• 23:47
  bankers. So don't allow them to take this
• 23:50
  narrative and don't allow them to, you know, stand on their
• 23:53
  high horses and try to dictate you and tell you.
• 23:56
  Because whether it's Stefan or whether it's the European
• 23:59
  Central Bank, you have to understand why they're saying
• 24:03
  the things they're saying. And they fundamentally believe
• 24:07
  that they know what's best for you.
• 24:10
  That's what they're telling you. Not directly maybe, but if you
• 24:15
  read in between the lines and you really understand what it is
• 24:17
  they're saying, that's what they're saying.
• 24:20
  And I don't know about you guys, but I think millions upon
• 24:22
  millions of of of individuals making their own decisions about
• 24:27
  their lives, about what information they want to
• 24:29
  consume, about what money they want to use, rather than a group
• 24:34
  of elitist central planners. My money is upon millions of
• 24:38
  individuals making individual decisions, right?
• 24:41
  That's literally the basis of capitalism, right?
• 24:44
  So this is the death of central planning.
• 24:47
  And I think these central planners are absolutely
• 24:48
  terrified. And I think that's why they're
• 24:50
  saying shit like this. Opti, what are your thoughts
• 24:53
  brother? Yeah, I mean you know we say all
• 24:57
  the time, we know our bias. Of course we think Bitcoin is
• 25:01
  going up. We, we believe in the 21 million
• 25:04
  hard cap, not only believe, we run the nodes and we verify and
• 25:08
  confirm that there will never be more than 21 million Bitcoin.
• 25:11
  And if you don't understand the mechanisms of Fiat money, if you
• 25:14
  don't know how Fiat money is created, literally create
• 25:17
  printing money out of thin air based on debt.
• 25:20
  And you don't understand the Cantalon effect.
• 25:21
  Like you can see how easily someone can gaslight you into
• 25:25
  not understanding the mechanisms of our current Keynesian
• 25:28
  economy. And if you're like an average
• 25:31
  person that just looks at things on a very surface level, you
• 25:35
  probably would believe what like Stefan Deal's saying or
• 25:38
  Elizabeth Warren is saying, or we saw one of the one of the
• 25:42
  SECI forget what what her name was.
• 25:45
  It's like Caroline Crenshaw or what her position is.
• 25:48
  She came out super hard against Bitcoin and was saying that, you
• 25:52
  know, the complete opposite of what Gary Ginzer's trying to do.
• 25:56
  Like again, the same things. Like it's for criminals, money,
• 25:58
  we're. Going to get to that.
• 25:59
  We have all the receipts. We have all the receipts.
• 26:01
  In the new segment and and you could just see like and and you
• 26:04
  call them statist and it just it's it's so obvious once you
• 26:08
  understand what's going on like all these people and and the
• 26:13
  majority of people would probably fall into the trap of
• 26:15
  believing that the the sole person to create money should be
• 26:18
  the government. When if you study any basics
• 26:21
  amount of Austrian economics, you realize that hey, a money
• 26:25
  not controlled by a specific government would benefit the
• 26:29
  most people and it's just it's very hilarious in my opinion.
• 26:34
  It's above that, dude. Listen, OK, let's.
• 26:37
  Because we have to be fair, let's give them the benefit of
• 26:40
  the doubt. OK?
• 26:41
  Let's give them the benefit of the doubt.
• 26:43
  Government. You.
• 26:45
  It's it's true. You know, a government and
• 26:48
  democracy is a true representation of the people.
• 26:50
  Therefore, they have the sole right and the privilege to be
• 26:54
  able, the ones to control monetary policy, right?
• 26:57
  That's the theory, right? How has that worked out?
• 27:02
  It's a been of excuse my language.
• 27:04
  I'm sorry guys. It's been an absolute fucking
• 27:06
  disaster. Endless wars.
• 27:10
  If you are a millennial and I'll put, I'll, I'll say this if
• 27:13
  you're under the age of 35, you cannot afford anything.
• 27:17
  You're out priced out of the housing market.
• 27:20
  Thank God for Bitcoin. Like if it wasn't for Bitcoin,
• 27:23
  like, I I don't think I would have hope for the future.
• 27:27
  So it it it like, you have to understand like and and here's
• 27:30
  the thing, the Conciling Air conference is already releasing
• 27:32
  the propaganda to like, make you OK with that.
• 27:35
  They're literally telling you you'll own nothing and be happy.
• 27:37
  Fuck that. I want to own something and be
• 27:39
  happy. So yeah, like, I'm sorry they
• 27:43
  shot the bed. What was the what was the quote
• 27:45
  by Ron Paul? You know, it's not a coincidence
• 27:48
  that the century of central banking is also the bloodiest
• 27:52
  century in human history. I completely, fundamentally
• 27:56
  agree. So yeah, governments, you had
• 28:00
  it. You had an opportunity and you
• 28:03
  shat the bed multiple times, over and over and over again.
• 28:06
  What is? Javier Miley of Argentina says
• 28:10
  no, I Plata. There is no money, right?
• 28:13
  So yeah, no, it's time to try something new.
• 28:17
  Of course, you know, the people that benefit from that money
• 28:20
  printer, the status, the central planners, of course, you know,
• 28:24
  they're going to be upset with this.
• 28:26
  So anyways, I do want to give a. Shout out one more thing I want
• 28:29
  to say, because it's on this point.
• 28:31
  You know there is only one permissionless money in the
• 28:34
  world. There is there is only one money
• 28:36
  that you don't need the favor of the Emperor to to and be
• 28:43
  involved with it. Like you, you don't need to ask
• 28:46
  anyone. You don't need a middleman.
• 28:48
  You you you can't print more of it.
• 28:50
  Like there's only one money in the world that is immune to the
• 28:55
  debasement of the currency of the money by governments and
• 28:59
  that is Bitcoin. And I don't know about you, but
• 29:01
  I much prefer using a money that is not controlled by a
• 29:05
  government, that's not controlled by a specific
• 29:07
  organization. That's why Bitcoin is freedom
• 29:10
  Money is because there's no one that you have to go to and ask
• 29:13
  permission to use it. Or you know, you can't create
• 29:16
  more of it. Like there's only one freedom
• 29:18
  money in the world in this Bitcoin anyways.
• 29:20
  Go on, Nico. 100% No, I think you said it beautifully.
• 29:23
  Anyways guys, if you are watching the show, it really
• 29:27
  helps us if you smash the like button on YouTube, on Twitter,
• 29:30
  on rumble. We've been having great live
• 29:34
  streams these last couple days. If you're on the go and you
• 29:37
  can't make the video show, you can't watch it for some reason.
• 29:41
  Let's say you're, you know, you're driving or something like
• 29:43
  that. You could always find us on
• 29:46
  Anchor, Spotify, Apple, Fountain really appreciate us.
• 29:49
  I really appreciate if you leave us some good reviews, helps
• 29:52
  push, you know the the show forward.
• 29:55
  Of course, if you guys like the show, right.
• 29:57
  So we appreciate you guys and we wouldn't be here without you.
• 30:01
  So anyways, no more delay. Let's jump straight into the
• 30:04
  news. We have a lot to talk about
• 30:06
  today. Let's check it out the Daily
• 30:10
  News. I want to give a shout out to
• 30:14
  our sponsor, Foundation Devices. It's self custody done right?
• 30:18
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• 30:22
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  you. Check out the passport link in
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  the show notes below to learn more.
• 31:09
  All right guys, I made it easy for you guys.
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  You can literally scan the QR, the QR code on your screen right
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  important as it is today to take self custody of your Bitcoin.
• 31:28
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• 31:32
  or Bitcoin, not only can you vote with your wallet, but also
• 31:36
  your feet, right? So take that sweet, sweet, sweet
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  Bitcoin, put it into cold storage, get yourself a hardware
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  wallet, and of course you recommend our sponsor Passport
• 31:47
  by Foundation Devices. It is literally it makes taking
• 31:50
  self custody incredibly easy. OK, so I do want to address the
• 31:55
  topic of today's video. So the ETF has been approved but
• 31:59
  you guys are not bullish enough. I'm I'm going to take that quote
• 32:02
  from from from CK here is a very famous Twitter spaces that
• 32:08
  Michael Saylor participated in. Mind you this was back.
• 32:11
  This was two years ago. This was in 2021 November 10th,
• 32:14
  2021. Holy cow long time ago and let's
• 32:18
  check out. He says there's three things
• 32:20
  that needed to happen in order for Bitcoin to hit $5,000,000
• 32:24
  per coin. Let's check it out.
• 32:25
  We. Want to do that?
• 32:27
  Then you can get in ahead of everybody else, and if you
• 32:29
  won't, you wait and you buy in when it's 10X more.
• 32:32
  And and you think the catalyst that 10X is, it really is the
• 32:36
  moment that JP Morgan Chase or or other big money center banks
• 32:39
  can custody these for large corporates.
• 32:41
  That's it. That's the sea change.
• 32:42
  Because there's really no reason why they shouldn't be
• 32:43
  diversifying the assets on the balance sheet.
• 32:45
  Is that is that your take? Because I know that like Tim
• 32:46
  Cook, I don't know where it came from.
• 32:47
  Earlier this week he said something like I own some
• 32:49
  Bitcoin, but we have no designs on anything or I don't know if
• 32:51
  he said Bitcoin or crypto in general.
• 32:52
  Is that the thing? And then and then and then
• 32:54
  there's three. Look first of all it's going up
• 32:55
  by a factor of 10 whether they fix any of the stuff right.
• 32:57
  It's going to go it's going to be a grind up by a factor of 10
• 33:00
  just because gold is broken and bitcoin's going to replace gold
• 33:03
  and now everybody in the universe knows they need a non
• 33:05
  solver and store of value in the form of a bearer instrument.
• 33:08
  So now they're looking the the amount of stories for last year
• 33:11
  people said inflation may be coming we're not sure.
• 33:13
  Now the mainstream narrative is flipped to inflation is here you
• 33:15
  need inflation edge so it's going to grind up to replace
• 33:18
  gold. It look at $500,000 a coin
• 33:20
  regardless of why they fix these things but there are three
• 33:21
  things that are massive catalyst that cause an acceleration and I
• 33:25
  don't think that those three things don't take us to 500,000
• 33:28
  they take us to 5 million a coin right.
• 33:29
  Those three things are a spot ETF where someone can go ahead
• 33:33
  and buy $100 million of Bitcoin via security.
• 33:35
  An ETF security I think that's 1/2 is your bank is going to
• 33:39
  custody it for you and lend against it.
• 33:41
  And three is I can mark it up, I'll mark it down on my balance
• 33:45
  sheet based on fair value para pursue, it'll be para pursue to
• 33:48
  the way I handle apple stock or at least that good if it's if
• 33:51
  you have property with fair value accounting by the way it
• 33:54
  becomes para pursue to the way you handle treasury bonds on a
• 33:58
  treasury balance sheet. Treasuries are better than
• 34:00
  stocks because treasury is property whereas a stock is a
• 34:02
  security and you're capped out at 40% of your balance sheet of
• 34:05
  security. So.
• 34:06
  So it would be a major, major breakthrough if if you saw any
• 34:09
  of those three things. And I'll end with this one
• 34:12
  observation. I tweeted this last week but I
• 34:13
  still I think it's very powerful.
• 34:14
  It's if the banks can hold this stuff on their balance sheet,
• 34:17
  then a whole new class of investors are going to buy it.
• 34:20
  People are going to put in billion in multi billion dollar
• 34:22
  orders to buy it as a treasury asset.
• 34:23
  Nobody's going to sell it because because there's no
• 34:25
  reason to sell it if you can borrow against it at Libor plus
• 34:28
  art silver plus 50 basis points, right.
• 34:31
  So you'll be you'll be barring as Bitcoin.
• 34:32
  So for plus 50 or so for plus 100 basis points no one's ever
• 34:35
  going to sell it. And then as I joked you won't be
• 34:37
  able to afford it. I mean you will be able to
• 34:38
  afford it. But you know, everybody gets
• 34:39
  Bitcoin at the price they deserve when the banks normalize
• 34:42
  it and you can draw $100 million credit line at 100 basis points
• 34:45
  from an FDIC insured bank at that point, right.
• 34:48
  We're going to blow through the market cap of gold by a factor
• 34:50
  of 10. So I, you know, I think the best
• 34:52
  thing is those three things are highly likely to happen.
• 34:55
  I don't know if they happen in 36 months or 24 months or 12
• 34:57
  months, but I would be shocked if it's more than 36 months.
• 35:00
  And I hope, guys, I hope it doesn't happen in 12 months,
• 35:03
  because my view is the longer it takes, the the more progressive
• 35:06
  the grind, the more time I have to buy more of it.
• 35:09
  And he was absolutely right, ladies and gentlemen, Michael
• 35:14
  Saylor being prophetic, November 10th, 2021.
• 35:19
  Those things have. Happened so less than 36 months.
• 35:22
  So you know a spot Bitcoin ETF was approved.
• 35:27
  The the FASB ruling was also approved.
• 35:32
  I saw a comment in the comment section talking about what is
• 35:35
  para pursue, para pursue mean. It's a Latin phrase and the
• 35:39
  English translation means on equal footing, right.
• 35:42
  So if stock and Bitcoin were treated on equal footing on any
• 35:46
  on an accounting level, it would, it would, it would be, it
• 35:50
  would be good for companies to hold it without the accounting
• 35:54
  nightmare. And this changed by the way it
• 35:56
  was announced, actually in December 13th, 2023.
• 35:59
  We we covered it on Simply Bitcoin Live when it happened.
• 36:02
  So this is crazy historic moment.
• 36:05
  Now, the third thing that Michael Saylor said that needed
• 36:07
  to happen was banks having the ability to custody Bitcoin for
• 36:13
  their clients. Opti, I'm letting you right now.
• 36:15
  The new segment is gonna run a little bit long today 'cause I
• 36:17
  have a lot to. Cover.
• 36:17
  That's cool. That's.
• 36:18
  Cool. So but this is crazy historic
• 36:22
  moment. Now let's go through it.
• 36:24
  Franklin Templeton. Literally their their thing on
• 36:28
  Twitter, it's Benjamin Franken with with laser eyes.
• 36:32
  Like, could you have ever have imagined this?
• 36:35
  This is absolutely nuts. Guys.
• 36:37
  I I mean, Opti, you've been here a minute, right?
• 36:40
  We've been here a minute. You know it's my eighth year.
• 36:42
  It's your 7th year. Like dude, could you ever have
• 36:44
  imagined that Bitcoin legal tender happening, public
• 36:47
  companies holding Bitcoin on their balance sheet, This now.
• 36:51
  It's literally the Bitcoin IPO today.
• 36:54
  Like this is crazy. This is nuts.
• 36:56
  I can't believe how far we've come here.
• 36:58
  Is Max Keiser really? And I I agree with this by the
• 37:02
  way, Lop, who's the CTO of Casa, said today is the end of the
• 37:07
  beginning for Bitcoin. The middle will mark the biggest
• 37:10
  explosion and mark cap with huge gains for Bitcoin.
• 37:13
  Again, and I completely agree, this is the beginning of the
• 37:16
  end. This is the end of the
• 37:18
  beginning. We're no longer in the innovator
• 37:21
  or the early adopter phase. Wall Street is here, right?
• 37:24
  They're not quite here. We'll get into the details of
• 37:27
  that in a second, but this is extremely, extremely exciting.
• 37:32
  Here's Adam Back's takes on what has been happening with the spot
• 37:36
  Bitcoin ETF. He goes on to say.
• 37:37
  So Tradfi let the Bitcoin Apex Predator into their China shop.
• 37:42
  Doors open in 24 hours. Supply squeeze volatility 24/7,
• 37:47
  High leverage with the ETF. Market makers and APS have
• 37:50
  enough liquidity or or will things get crazy.
• 37:53
  Everything hits spot in a supply squeeze and spot is thing.
• 37:58
  A spot is thin and he you know he goes on to GIF with the with
• 38:02
  the a Tyrannosaurus Rex and he Adam back says Bitcoin apex
• 38:06
  predator on the trading floor. Let's go.
• 38:09
  I completely agree this is a really, really useful graphic.
• 38:13
  This was when the Spot gold ETF was approved in November of
• 38:18
  2004. Take a look at what happened to
• 38:21
  the price shortly after. Right now, we'll get into the
• 38:24
  details and we'll compare because I think it's the best
• 38:28
  comparison how long it, how long it took for these institutions
• 38:36
  to start 'cause it was approved. But that doesn't mean that like
• 38:39
  for example, Merrill Lynch or Vanguard are are offering it to
• 38:44
  their clients yet. That takes a while.
• 38:47
  That takes some time, right. So we'll get into the details of
• 38:50
  that. The ramp up just isn't
• 38:52
  overnight. So here is here's another
• 38:56
  example. BlackRock actually tweeted this
• 38:58
  out out and it BlackRock is recommending this Bitcoin
• 39:03
  performance compared to major assets like come on now
• 39:08
  cumulative 300 and 315,000% analyzed 124%.
• 39:16
  So BlackRock is even telling you like look, Bitcoin is the thing.
• 39:20
  Like Bitcoin is where it's at. Absolutely crazy.
• 39:24
  Now before I get into the saltiness of the approval from
• 39:32
  Elizabeth, sorry, from Gary Gensler and some of the SEC
• 39:36
  commissioners as well as other SEC commissioners that were
• 39:39
  actually pretty hyped that I got approved, I do want to cover
• 39:43
  this because I believe it is important.
• 39:45
  So some news came out and I did a little bit of research and
• 39:48
  I'll read you guys something that I found out, which is it
• 39:53
  seems like other financial institutions are not yet
• 39:55
  offering this. So here's Neil Jacobs.
• 39:58
  He says I have a retirement account with Vanguard.
• 40:00
  I called them and they said they will not be offering any of the
• 40:04
  Bitcoin ETFs. I'm working on transferring
• 40:06
  assets out of there and then I will close my Vanguard account.
• 40:09
  Terrible business decision by Vanguard.
• 40:12
  Here is Steven Lupka. Steven Lupka is the head of Swan
• 40:15
  Private also a great guy. Worked with him at when I worked
• 40:18
  with him a lot when while I was at Swan.
• 40:21
  He goes on to say Vanguard City, Merrill, Edward Jones, UBS are
• 40:26
  all being reported to not allow clients to trade the ETF.
• 40:30
  Now I did a little bit of research of why that is, why
• 40:33
  that is happening, and I'll read you guys what I discovered.
• 40:39
  So I believe that this is from. This is a report from Bitwise.
• 40:45
  Yes, it is a report from Bitwise and it goes on to say everyone,
• 40:50
  I everyone wants to know how much money will flow into
• 40:53
  Bitcoin ETF. That's hard to say.
• 40:56
  I've seen long term flow estimates of 30 billion to 200
• 40:59
  billion. But one thing we do know is that
• 41:01
  the flows won't won't come all at once.
• 41:04
  In fact, it's more likely that they will build over time.
• 41:10
  It goes on to say in here are so the inflows for gold.
• 41:14
  So it was approved. The Gold Spot Bitcoin ETF was
• 41:17
  approved in 2004, 2004. The first year was 1.5 billion.
• 41:22
  The second year in 2005 it was 3.3 billion. 2006 4.8 2007 5.6
• 41:30
  2008 11.2 billion 2009 19 billion You guys get the point
• 41:35
  right? So it wasn't this like all at
• 41:38
  once flood. It started to trickle in.
• 41:40
  Now he goes on to say, and I think here's the sauce, here's
• 41:43
  the signal and all this there's there's a reason for the slow
• 41:46
  build up. For instance, although ETFs make
• 41:49
  it easy for many people to invest in an asset, they aren't
• 41:52
  automatically approved on all platforms.
• 41:55
  It takes time for instances, for conservative wirehouse
• 42:00
  brokerages like Morgan Stanley and Merrill Lynch to approve new
• 42:04
  ETFs. Now, I know what a lot of you
• 42:05
  guys are thinking like, OK, but they're not going to improve it.
• 42:08
  Well, This is why the Neil Jacobs tweet is so important, my
• 42:12
  ladies and gentlemen. That is market forces doing what
• 42:15
  market forces do best, right? That is literally market forces
• 42:19
  saying, oh, you're not going to improve it.
• 42:21
  I'm going to take my business somewhere else.
• 42:23
  So they can only grandstand and do this for so long until they
• 42:30
  continue to lose customers, right.
• 42:33
  So that's something to keep in mind.
• 42:35
  And now the also the other thing.
• 42:37
  Opti, do you have any comments on this before I move on to the
• 42:39
  next section? No, I mean, I I think this is
• 42:43
  par for the courts. Like you'd have to be asleep or
• 42:47
  not thinking critically if you think that the banks aren't
• 42:50
  going to fully embrace Bitcoin. And it's just a matter of time
• 42:53
  until everyone out there realizes that they need some
• 42:56
  Bitcoin ETF exposure. It it wasn't gonna happen
• 42:59
  overnight. But continue, continue. 100% OK,
• 43:02
  so let's talk about how the SEC reacted to this.
• 43:07
  Now. What's absolutely crazy, guys,
• 43:09
  is that Larry beat Gary. Larry kicked Gary's metaphorical
• 43:17
  ass, right? Clearly the Biden
• 43:20
  administration, clearly the SEC did not want to approve this.
• 43:26
  But they were under so much pressure from these institutions
• 43:32
  that they literally, they they couldn't, they couldn't stop it.
• 43:36
  They literally could not stop it.
• 43:37
  They lost on the court level. They lot like the the
• 43:42
  administrative state, the government forces that were
• 43:46
  against the approval of the spot Bitcoin ETF, they could not stop
• 43:51
  it. That doesn't mean that they
• 43:52
  weren't salty approving this thing.
• 43:54
  And that tells me and that actually gives me a little bit
• 43:57
  of hope that yeah, governments are going to have a hard time.
• 44:01
  Like they're going to have a hard time.
• 44:03
  Like, unless you're in like communist China where it's like
• 44:05
  a total dictatorship. If you live in a country that
• 44:08
  has somewhat of a democracy, as much as the government does not
• 44:13
  want to approve it, they're gonna have a really hard time
• 44:16
  because the market forces are gonna want it so bad.
• 44:19
  So let's take a look at Gary Genzer wrote this entire
• 44:25
  response essentially you know what his comments were on the
• 44:29
  here it is. Sorry about that.
• 44:31
  He wrote entire response on what his comments were on you know
• 44:35
  the approval of this it they they they they handled it
• 44:39
  terribly like the day before they tweeted out it from the SEC
• 44:44
  account. The SEC account was hacked in
• 44:47
  the past. They were like, don't trust any
• 44:49
  information unless it comes from the SCC.
• 44:51
  Their account gets hacked. Then they blame Twitter.
• 44:54
  Then it was discovered that that it's because they didn't have
• 44:58
  their two FA on like. And then they were telling
• 45:01
  people to turn on their two FA. Like, they don't take
• 45:03
  responsibility. It's like rules for thee but not
• 45:06
  for me. Like, I don't know, it's just
• 45:08
  crazy. So he did write like his, you
• 45:10
  know, a statement. He was very, very critical.
• 45:13
  Salty. Here's Nick Carter.
• 45:16
  You know, I think this is like the best part of this, and I
• 45:20
  love Nick Carter's comments. I used to flip the board over
• 45:23
  when I lost risk or Monopoly, even if I wasn't this sore of a
• 45:26
  loser. And here's what Gary Lenzer had
• 45:28
  to say. Though we're merit neutral, I'd
• 45:32
  note that the underlying assets in the metal ET PS have consumer
• 45:37
  and industrial uses, while in contrast, Bitcoin is primarily
• 45:41
  primarily a speculative, volatile asset that's also used
• 45:45
  for illicit activity including ransomware, money laundering,
• 45:49
  sanction evasion, and terrorist financing.
• 45:51
  While we approve the listing and trading of certain spot Bitcoin
• 45:55
  Etps shares today, we did not approve or endorse Bitcoin.
• 45:59
  Investors should remain cautious about the myriad of risk
• 46:02
  associated with Bitcoin products whose values tied to crypto like
• 46:07
  like Bro like and again like ransomware, Money laundering,
• 46:11
  sanction evasion, terrorist financing.
• 46:12
  Ladies and gentlemen, 99% of illicit finance is is done
• 46:17
  through the traditional financial system.
• 46:20
  So like what is he doing? Like it is And this is like a
• 46:23
  totally Elizabeth Warren, just like, OK, we have to say
• 46:27
  something you know like it it. I have to go back to this OPTI,
• 46:31
  this is Elizabeth Warren, this is right now terrorist financing
• 46:35
  warrants and Warren, this is financial guidelines.
• 46:38
  It's approved like it's so ridiculous.
• 46:41
  Anyways, and here's the legendary beauty ion, founder of
• 46:45
  Azteco. Great, no KYC way of acquiring
• 46:49
  some stats. Before I read what he has to
• 46:51
  say, I do wanna read some comments from SEC Commissioner
• 46:57
  Crenshaw and it goes on to say I am deeply concerned.
• 47:02
  And of course this is commenting on, you know, on the ETF
• 47:05
  approval. I am deeply concerned about
• 47:07
  today's actions. I am concerned that these
• 47:09
  products will flood the markets and land squarely in the
• 47:12
  retirement accounts of US households who can at least
• 47:16
  afford to lose their savings to the fraud and manipulation that
• 47:19
  appears prevalent in the spot Bitcoin markets and will impact
• 47:24
  the ETFs. I'm concerned that today's
• 47:25
  actions will create the in aim premature of Commission approval
• 47:31
  and oversight of the underlying spot markets, when really no
• 47:35
  such oversight exists. I am concerned that they will be
• 47:38
  confusion about what exactly these products are.
• 47:41
  They are not ETFs registered under the Investment Company Act
• 47:45
  of 1940, the ubiquitous products that today are used by millions,
• 47:49
  savings for retirement, and that investors may infer protections
• 47:53
  that do not in fact exist. I'm concerned about what comes
• 47:57
  next. What new, potentially more
• 47:59
  speculative products bearing greater risk of investor harm
• 48:02
  seek to list. We will hear a chorus of well
• 48:06
  heeled voices saying that the SE CS hands are tied by the new
• 48:09
  standards that we have set. I fear that today we are setting
• 48:12
  ourselves up for tomorrow's failure and it will be the
• 48:15
  investors that we have a duty to protect who will ultimately pay
• 48:18
  the price. OK.
• 48:19
  I want to focus on the last part.
• 48:23
  I fear that today we are setting ourselves up for tomorrow's
• 48:25
  failure and it will be the investors that we have a duty to
• 48:28
  protect who will ultimately pay the price.
• 48:31
  The first spot Bitcoin ETF was introduced was introduced 10
• 48:38
  years ago. You know what the price of
• 48:41
  Bitcoin was 10 years ago, $100. Are you protecting the people
• 48:48
  that you say you're protecting? Are you protecting them from the
• 48:51
  ravages of inflation? Are you protecting them from
• 48:54
  that? I don't think it has anything to
• 48:58
  do with that. I think it has to do with the
• 49:00
  fact that once people get a whiff of the power of saving in
• 49:06
  Bitcoin, not trading Bitcoin, the power of using Bitcoin as a
• 49:09
  savings mechanism, it reveals the scam of Fiat money.
• 49:17
  And I think that's what this is about.
• 49:19
  I think that's why the the current administration fought so
• 49:22
  hard. I think that's why Elizabeth
• 49:23
  Warren fought so hard. I think that's why Gary Gensler,
• 49:27
  that we know was working with Elizabeth Warren colluded with
• 49:30
  Elizabeth Warren, fought so hard against that.
• 49:32
  That's what this is about. This whole message was literally
• 49:37
  about trying to protect the government's privilege of being
• 49:42
  able to create money for free that everyone else has to work
• 49:45
  for. And you can connect it with this
• 49:48
  and you can connect it with this.
• 49:50
  It's the same wording. That's what it's about.
• 49:54
  Because if you actually look at the numbers, what is actually
• 49:57
  happened over the last 10 years, this would have done wonders for
• 50:03
  investors. It would not have hurt
• 50:06
  investors. So again, bull.
• 50:10
  I'm calling bullshit here. OK, moving on.
• 50:14
  Nick Carter points out something really well.
• 50:16
  He says it was the judicial system that did this despite the
• 50:19
  best efforts of the executive branch.
• 50:22
  The courts are our friends, right?
• 50:25
  Because it makes sense. Like they they it didn't make
• 50:28
  sense why they weren't approving this.
• 50:30
  Here is Tom Emmer. Tom Emmer is the GOP Majority
• 50:32
  whip, and he says here to stay. This is a result of an emerging
• 50:37
  industry fighting for the future of this country, for for the
• 50:40
  future of this country, against tremendous odds and prevailing
• 50:44
  over the tyrannical bureaucratic roadblocks 100%.
• 50:50
  Now here is really, you know, the cherry on top and I think
• 50:54
  the best saying, and this is from an SEC commissioner.
• 51:00
  Now, what's really interesting, guys, and I'm going to point
• 51:02
  this out, OK, And once again, guys, you guys know that we are
• 51:05
  apolitical on simply Bitcoin. I want to emphasize this enough.
• 51:09
  I can't emphasize that enough. But those comments from Gary
• 51:15
  Genser and from the other commissioner, they're both
• 51:19
  Democrats. The comment from Hester Pierce,
• 51:24
  she's a Republican and Senator Warren's bill that's in Congress
• 51:31
  right now, that would be a de facto ban on self custody and
• 51:35
  the mining industry. Even though it's a bipartisan
• 51:38
  bill, the vast majority of those 20 senators, I think it's like
• 51:42
  two or three Republicans. The vast majority of them are
• 51:45
  Democrats. So it's not black and white
• 51:50
  clearly. And you guys know that we don't
• 51:52
  believe in the traditional, you know, party system.
• 51:55
  We don't lean red or blue. We lean orange verse green.
• 51:59
  But it is troubling concern. It is a troubling concern.
• 52:03
  So if you live in a state, right, I suggest that you look
• 52:07
  up who your senator is and who's, who's your
• 52:10
  representative. And if they are against Bitcoin,
• 52:16
  they're against you holding a money that cannot be debased.
• 52:21
  Plain and simple. So anyways, I think this is the
• 52:26
  best saying and shout out. Zach Herbert, CEO of CEO and
• 52:32
  founder of Foundation make awesome hardware wallets, of
• 52:35
  which we recommend the passport. And he posted the screenshot of
• 52:41
  Hester Pierce's comments. So first, our arbitrary and
• 52:46
  capricious treatment of applications in this area will
• 52:49
  continue to harm our reputation far beyond crypto.
• 52:53
  Diminished trust from the public will inhibit our ability to
• 52:56
  regulate the markets effectively.
• 52:59
  Let me ask you guys something. After the debacle yesterday by
• 53:03
  the SEC telling you oh you should multi sig your your your
• 53:08
  devices, the other thing that they said you should, you know
• 53:15
  you should only trust what the SEC has to say.
• 53:18
  And then their tweet is literally a tweet that
• 53:20
  manipulates the market. What is that but not diminishing
• 53:25
  the trust from the public right. This saga will taint future
• 53:29
  interactions between the industry and our staff and will
• 53:31
  dampen the rich, informative dialogue that best protects
• 53:35
  investors. Second, our disproportionate
• 53:39
  action on these filings has diverted limited staff resources
• 53:43
  away from our critical, our mission critical work.
• 53:46
  Over 10 years, likely millions of dollars of staff time has
• 53:51
  gone towards blocking these applications.
• 53:55
  We've been making the case on Simply Bitcoin for a very long
• 53:58
  time that we believed that the reason that they're blocking
• 54:01
  this was for political reasons. If that is not a smoking gun, I
• 54:07
  don't know what is goes on to say.
• 54:10
  Third, our actions have muddied people's understanding of what
• 54:14
  the SC CS role is. Congress did not authorize us to
• 54:18
  tell people whether a particular investment is right for them.
• 54:22
  But we have abused administrative procedures to
• 54:25
  withhold investments that we do not like from the public.
• 54:30
  That's executive action. That's not democracy.
• 54:34
  And you know, you always say that's it's democracy.
• 54:35
  It's democracy. First of all, America's not a
• 54:37
  Republic. Democracy is a Republic.
• 54:39
  It's a represent. It's a representative Republic.
• 54:42
  But put that aside, Fine, that ain't democratic.
• 54:46
  That's like a dictatorship, right?
• 54:48
  Like the said, it's like we agree with this, We don't agree
• 54:51
  with this. Like that's the problem 4th.
• 54:54
  By failing to follow our normal standards and processes and
• 54:57
  considering spot Bitcoin ET PS, we have created an artificial
• 55:01
  frenzy among around them. Absolutely true.
• 55:04
  Had these products come to market in the way other
• 55:06
  comparable products typically have, we would have avoided the
• 55:10
  circus atmosphere in which we now find ourselves 100% true 5th
• 55:15
  We have alienated a generation of product and innovators within
• 55:18
  our space. Our unreasonable approach to
• 55:21
  these applications have signaled that regulatory prejudice
• 55:24
  against these new products and services can can lead us to
• 55:28
  sidestep the law and unreasonably delay product
• 55:31
  launches. The industry has logged hundreds
• 55:33
  of meetings, has filed submissions, withdrawals and
• 55:36
  amendments, and ultimately had to resort to a costly legal
• 55:40
  battle to get us to today. So I I got to say this, is this
• 55:48
  truly a government by the people, for the people.
• 55:51
  I do not believe that's possible as long as Fiat money is a
• 55:54
  thing. What this signifies to me is
• 55:58
  that this is a government that is more interested in protecting
• 56:03
  their privilege. That's what I am, That's what
• 56:06
  I'm seeing here. At least some people are aware
• 56:09
  to that. At least at least some people in
• 56:10
  government, some representatives in government are aware to that.
• 56:14
  Now lastly, before I pass it on to Opti, I think beauty on said
• 56:17
  this perfectly, Beauty on said this beautifully.
• 56:22
  That's very fitting. So Crenshaw started with the
• 56:29
  phrase I am deeply concerned, So beauty on did the same thing.
• 56:34
  I'm deeply concerned. I am concerned.
• 56:36
  I am concerned. I am concerned investors may
• 56:41
  infer. I am concerned.
• 56:43
  I fear we are setting ourselves up for failure.
• 56:46
  No American talks like this. America could not have been
• 56:50
  founded if the people who took risks to sail to her shores
• 56:54
  thought like this. Even after 100 years, Crenshaw
• 56:58
  would still be terrified of Bitcoin and of any change to
• 57:02
  what he already barely understands.
• 57:05
  If Crenshaw were in charge of anything, you would still be
• 57:08
  sending telegrams sent by Morse. America is not Europe.
• 57:13
  It is a country of explorers and risk takers.
• 57:16
  That's why she is so great. Does Grenshaw really think that
• 57:20
  a Bitcoin ETF crash could be bigger than the biggest crashes
• 57:24
  that have come and gone and that everyone survive?
• 57:28
  Survived. What sort of America does
• 57:30
  Crenshaw really want? One that has no risk, no
• 57:33
  innovation, no experimentation. How does Crenshaw think America
• 57:38
  got to the moon and back from drawings on paper?
• 57:41
  If Crenshaw is terrified of Bitcoin, he should use his fear
• 57:45
  of it as a market signal and offer services to investors
• 57:49
  where they're guaranteed of insulation from exposure to it.
• 57:52
  Anyone who is fearful like him can profit from fear, while
• 57:55
  everyone else who wants the risk can take it.
• 57:58
  Why does Crenshaw think his fearful, ignorant and cowardly
• 58:02
  opinion should override the thinking of every other American
• 58:05
  in the US who made him the boss of all these markets?
• 58:09
  Why is his personal fear the gold standard by which everyone
• 58:13
  else must live? It isn't.
• 58:15
  Crenshaw is a template personality for anti Bitcoin or
• 58:18
  anti Americanism. If the American system works, he
• 58:22
  can have his opinion, but it can't prevent anyone from
• 58:25
  experimenting in the market. If Crenshaw wants to live in the
• 58:29
  E in an EU style undemocratic society, he should move to the
• 58:33
  EU, where innovation is dampened and squashed and he can feel
• 58:37
  safe leaving America to Americans.
• 58:40
  And he can watch Americans go to the moon with Bitcoin and then
• 58:44
  go to Mars with Elon Musk's on laptops invented in America.
• 58:51
  As a first generation immigrant, I was sold on that idea of
• 58:55
  America as America being the vanguard of innovation, the
• 59:02
  place that you come for opportunity.
• 59:06
  I was not sold on this Frankenstein Fiat, motherfucking
• 59:12
  version of America. I'm over it.
• 59:15
  It's done. So I'm glad this happened.
• 59:19
  Historic day for Bitcoin and it happened.
• 59:23
  The ETF was approved the day that Hal Finney said he was
• 59:28
  running Bitcoin in 2009 and the day after Bitcoin publicly IPO D
• 59:35
  Absolutely incredible. This is insane.
• 59:37
  This is amazing. I can't believe this.
• 59:41
  Buckle up guys. It just keeps getting better
• 59:43
  from here Anyways, Opti, what's your take on this?
• 59:45
  I almost teared up man. That was that was that beauty
• 59:48
  on, bro. That's some that's some fire
• 59:51
  shit. Some fire shit.
• 59:52
  I. I love the Twitter anyways,
• 59:55
  maybe I'm going to have a little contrarian take to what you're
• 59:57
  saying Nico, because I'm kind of OK with the spot Bitcoin ETF
• 1:00:01
  taking this long because it gave us all an opportunity to stack
• 1:00:04
  cheap sats and Wall Street wasn't coming into Bitcoin and
• 1:00:07
  and able to Co-op Bitcoin when it was still a baby.
• 1:00:10
  So. I, I, I don't want to ever agree
• 1:00:13
  with the SEC basically. And I don't want to say they
• 1:00:16
  actually maybe did do some sense of protecting consumers in in
• 1:00:20
  like not the way that they think.
• 1:00:22
  Just so that the Larry Finks of the world didn't come in and
• 1:00:25
  scoop up all the Bitcoin when it was still a baby and not really
• 1:00:29
  spreading throughout society. So I'm kind of OK with them
• 1:00:32
  taking this long to be completely honest, but this does
• 1:00:35
  mark the beginning. Opti is no longer with simply
• 1:00:39
  Bitcoin anymore. Opti is a statist.
• 1:00:42
  No, I'm saying the Well, I don't know.
• 1:00:45
  Yeah, maybe the. I'm just kidding, bro.
• 1:00:48
  No, no, no, no. They did something good.
• 1:00:50
  It's good to have a contrary in it.
• 1:00:51
  But what's? No, no.
• 1:00:53
  But what makes you say that? What?
• 1:00:54
  Makes you well. It's because Bitcoin what the
• 1:00:58
  man I'm blanking on, the twins, what's their name again?
• 1:01:00
  The Winklevite. The Winklevite wanted to get an
• 1:01:03
  ETF approved in like 2015, right?
• 1:01:06
  Bitcoin was still a baby. Like, we didn't even go through
• 1:01:09
  the fork wars. We couldn't even, we fully
• 1:01:12
  didn't have a public war or a public example of who actually
• 1:01:17
  controls Bitcoin. You know in 20/16/2017, the
• 1:01:21
  thought was that businesses you know, businesses controlled
• 1:01:24
  Bitcoin and miners controlled Bitcoin.
• 1:01:27
  And if we had gotten an ETF approved by then, I'm sure that
• 1:01:30
  Wall Street would have put their the might of the money printer
• 1:01:32
  behind whatever fork coin they wanted.
• 1:01:35
  And we, we made it end up in a place where Bitcoin becomes at
• 1:01:38
  dystopian tracking tool that we all want to avoid that we see
• 1:01:42
  coming down the pipeline with CBD, CS.
• 1:01:44
  And so I think in in in like kind of a backwards roundabout
• 1:01:48
  way. The fact that it took this long
• 1:01:50
  and maybe it was political. Maybe it was Elizabeth Warren
• 1:01:54
  and Co you know talking to Gary and making sure that this ETF
• 1:01:59
  wasn't approved on his watch or what have you.
• 1:02:00
  You guys can speculate on all of the reasons why it took this
• 1:02:04
  long. I I think it's kind of a good
• 1:02:06
  thing that it took this long because now Wall Street has to
• 1:02:09
  scramble for what the last 1.5 million coins and then most of
• 1:02:15
  Bitcoin is in cold storage. So I'm kind of OK with it taking
• 1:02:18
  this long. Of course now this kind of gives
• 1:02:20
  us legitimacy. Like I I was thinking when this
• 1:02:24
  got approved, like what What would my dad say right now?
• 1:02:26
  You know he's a boomer. I love him.
• 1:02:28
  He loves gold. He even tries to shill silver on
• 1:02:30
  me sometimes. With my dad it it is Bitcoin.
• 1:02:33
  Come on, man. Anyways, I I like, I haven't had
• 1:02:35
  an actual conversation with him, but I did kind of text him and
• 1:02:38
  for people like him and not not the cool boomers that hang out
• 1:02:41
  with us, that know why Bitcoin is important.
• 1:02:43
  Everyone else like this gives us some legitimacy and they're like
• 1:02:47
  the adults are here. That's why I was trolling and
• 1:02:50
  wearing a pseudo suit because that's the game being played
• 1:02:54
  like we have some sense of legitimacy.
• 1:02:56
  We wear suits now, take us seriously, and Bitcoin doesn't
• 1:03:00
  need that. But this is where we are and for
• 1:03:03
  better or worse, people do look at authority figures for
• 1:03:06
  legitimacy. And now for for better or worse
• 1:03:09
  guys, we have that legitimacy now that Wall Street is getting
• 1:03:12
  exposure to Bitcoin. So with all that being said, I
• 1:03:16
  am also very tired of the nanny state and that, like in my
• 1:03:22
  opinion, it's really insulting that that they, without saying
• 1:03:26
  it, they're like, yeah, you're too stupid to know what you can
• 1:03:28
  invest in. Like you need our protection so
• 1:03:30
  that you know you don't wreck yourself like you stupid
• 1:03:33
  peasant. Like to me, that's what I hear
• 1:03:35
  every time I hear stuff like this.
• 1:03:36
  And of course it's always about control.
• 1:03:38
  They can say whatever they want about, oh, we're here to protect
• 1:03:42
  the consumer. And Nico, that tweet you put up
• 1:03:44
  yesterday about protecting the consumer with their hacked SEC
• 1:03:48
  account and the market dumped, like they can't even protect
• 1:03:51
  their Twitter account and they're here to protect the
• 1:03:53
  markets. Like, it's it's just Keynesian
• 1:03:55
  hubris, in my opinion. But hey, this is where we are.
• 1:03:58
  The nanny state's going to nanny state and it's always about
• 1:04:01
  control. But now we have the price
• 1:04:04
  exposure from Wall Street and everyone and their mothers
• 1:04:07
  scrambling to be the top dog in these ETFs.
• 1:04:10
  And like, this is where we are in the story.
• 1:04:12
  So hopefully we don't have to talk about an ETF.
• 1:04:17
  Anymore. No, it's over now.
• 1:04:20
  It's time. It's it's over dude.
• 1:04:21
  Like, I mean like what is? What else is there to?
• 1:04:23
  Say like we've been covering it for so long, you know, macro,
• 1:04:26
  macro, macro, but macro, macro, yeah, man, like here we are.
• 1:04:31
  It's going to be interesting to recap maybe in a couple of
• 1:04:33
  months and see who the top three ETFs are and and the flows going
• 1:04:37
  in. And anyways, we are running
• 1:04:39
  long, Mika, so if we're gonna do the culture, maybe we should do
• 1:04:42
  that real. Quick let's absolutely do the
• 1:04:44
  culture. But first, I do want to give a
• 1:04:46
  shout out to Max. They are the most trusted place
• 1:04:52
  to buy, sell, host mining equipment.
• 1:04:55
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• 1:04:59
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• 1:05:03
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  All right everybody, let's get to the culture.
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  We have a lot to talk about today.
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  Visit swanbitcoin.com today. All right guys, so I'm going to
• 1:06:10
  do this quick since the news was very long.
• 1:06:13
  But anyways, I said I wanted to kind of talk about the framing
• 1:06:16
  here and what does bitcoiners think and this is the culture.
• 1:06:20
  Anyways, so we're going to tell you what we think.
• 1:06:22
  This is the point of this what what I think the best things to
• 1:06:24
  be doing. So shouts out to my boy Don Bay.
• 1:06:26
  He tweeted this this morning. Bitcoin is front and center
• 1:06:29
  homepage for BlackRock, bitwise Vanex and Templeton and you guys
• 1:06:32
  can see the screen share here. You know BlackRock, their
• 1:06:35
  iShares. Everyone's pumping their ETS.
• 1:06:37
  They're you know, they're all on the first page.
• 1:06:41
  It's front and center. We're getting Wall Street
• 1:06:44
  marketing Bitcoin on one hand, you love to see it.
• 1:06:47
  On the other hand, you shouldn't be buying the spot Bitcoin ETF.
• 1:06:50
  Take Bitcoin into custody. This is basically what the
• 1:06:53
  rant's going to be today. But anyways, last week we saw
• 1:06:55
  this come out from the Financial Times and opinion piece.
• 1:06:57
  This guy said my new New Year's resolution is Bitcoin.
• 1:07:01
  So we're seeing already that people just with the quote, UN
• 1:07:05
  quote legitimacy of the black rocks the institutions, Wall
• 1:07:09
  Street's getting into Bitcoin and wanting exposure of Bitcoin
• 1:07:13
  and and of course, you know the the the regulatory attempt to
• 1:07:17
  capture Bitcoin, good thing most Bitcoin is in custody and they
• 1:07:22
  can't stop Bitcoin. Yes they can try to put a
• 1:07:24
  wrapper on it and try to funnel as much Bitcoin as possible but
• 1:07:27
  they're going to try to you know pump up the price and and sell
• 1:07:31
  force you to sell your Bitcoin via incentives.
• 1:07:34
  Anyways we were all kind of talking about what was going on
• 1:07:36
  with the Bitcoin price. Of course I don't like to show
• 1:07:41
  the charts too much here but it seemed like it was a sell the
• 1:07:43
  news story or did pump to like 49 K this morning.
• 1:07:46
  I think what most of us didn't realize or rather most people
• 1:07:50
  out there didn't realize. It's like all the flows of of
• 1:07:53
  capital aren't going to overnight go into Bitcoin like
• 1:07:56
  your parent. Like I I'm seeing people in the
• 1:07:58
  chat say like now my dad wants to buy some Bitcoin.
• 1:08:00
  So this process is going to take a little bit where people now
• 1:08:03
  are going on. I don't know BlackRock, Vanek,
• 1:08:06
  all the websites now of Wall Street and they're like oh wow
• 1:08:09
  OK Bitcoin ETF just got released.
• 1:08:11
  Cool. Maybe I need to look into this.
• 1:08:12
  This is that market signal showing that hey, Bitcoin has
• 1:08:16
  some legitimacy. It's maybe not just for
• 1:08:18
  criminals and money launderers and shadowy super coders and
• 1:08:21
  whatever they call us, but I think what we're missing is
• 1:08:26
  summed up great in this tweet shots of the Charles Edwards
• 1:08:28
  because the ETF news is massive, but no one is even talking about
• 1:08:32
  Bitcoins, biggest having ever on April roughly April 19th, 2024.
• 1:08:36
  It's just three months away and it will be the first time that
• 1:08:39
  Bitcoin becomes harder than gold, which historically has
• 1:08:42
  been the best store value. So as we know we're going into
• 1:08:45
  the having it's a couple months away, the ETF is cool.
• 1:08:48
  It's obviously been a lot of speculation and if you're
• 1:08:52
  looking at the price, it's kind of a nothing burger right now.
• 1:08:54
  I I think it'll just be a slow delay of people getting their
• 1:08:58
  capital in the Bitcoin. We're seeing a dump right now
• 1:09:00
  because I think people are dropping from GBTC into other
• 1:09:05
  ETFs and we got CPI numbers today and it seems like the
• 1:09:08
  whole market's in negative. Anyways, shouts out the Marty
• 1:09:10
  bank because he summed it up great and he goes trad 5 Bitcoin
• 1:09:13
  ETF Influencers really don't understand Bitcoin.
• 1:09:15
  The dollar's complete, the basement is inevitable and
• 1:09:18
  people are going to need direct access to the next reserve
• 1:09:21
  currency AKA Bitcoin to operate through the economy and and ETS
• 1:09:25
  don't enable that. And as we tell you guys all the
• 1:09:28
  time, This is why it is self custody or slavery.
• 1:09:31
  As Nico tweeted, This is why you run the nodes.
• 1:09:34
  This is why we constantly tell you and try to inform you the
• 1:09:38
  best ways to take Bitcoin off exchanges, to transact
• 1:09:41
  peer-to-peer. Because what really matters is
• 1:09:44
  people holding self custody and before XX starts yelling me
• 1:09:47
  yelling at me in the chat about billionaires and boomers not
• 1:09:50
  wanting to take their assets into self custody, we totally
• 1:09:53
  understand this. We totally understand that if
• 1:09:55
  you have money in a 401K or whatever, you can't at least as
• 1:10:00
  of now get exposure to Bitcoin. So of course some exposure to
• 1:10:03
  Bitcoin is better than no exposure to Bitcoin as far as
• 1:10:06
  I'm concerned. And so I think that spot Bitcoin
• 1:10:09
  ETF, even though it's been hyped up and we've been talking about
• 1:10:11
  it for forever now and we do have the three steps to taking
• 1:10:16
  Bitcoin 25 million that Sailor was saying, which was what an
• 1:10:20
  ETF, the FASB rule change banks custody and Bitcoin.
• 1:10:25
  Which I personally don't like the banks custody.
• 1:10:27
  But that's a totally other story.
• 1:10:28
  Even how Finney was talking about the fact in the earliest
• 1:10:31
  days of Bitcoin that there will be full reserve bitcoins and
• 1:10:33
  there will be fractional reserve bitcoins and the market will
• 1:10:36
  learn their lessons the hard way.
• 1:10:38
  So hey, if it's a matter of Wall Street pumping our bags to teach
• 1:10:43
  Wall Street a lesson about custody, I am all for this, I'm
• 1:10:46
  here for this. But you as the individual out
• 1:10:49
  there take custody of your Bitcoin.
• 1:10:52
  Yes, I do think this year is going to be an important year in
• 1:10:57
  because in regards to bitcoins price action, now that we do
• 1:11:00
  have Wall Street money, being able to get exposure to Bitcoin,
• 1:11:03
  I think we're going to see a slow grind up again.
• 1:11:06
  You know, maybe the response in the price was lackluster, but I
• 1:11:10
  I think everyone was was smoking the hopium and thinking that the
• 1:11:14
  Bitcoin price was just going to go absolutely parabolic on the
• 1:11:17
  release of an ETF. But hey, we saw what happened
• 1:11:21
  after the SEC hack tweet and all the short all the longs got
• 1:11:27
  liquidated. So here we are, this is where we
• 1:11:29
  are in the story guys. So again, I did this as quickly
• 1:11:32
  as possible because we are running late.
• 1:11:34
  But TLDR guys, yes spot Bitcoin ETF gives us legitimacy.
• 1:11:38
  Like that tweet? Oh yeah, Like, yeah, simply, We
• 1:11:42
  didn't retweet. We'll retweet.
• 1:11:43
  We'll retweet What I said. Yes, it gives us legitimacy, but
• 1:11:48
  you guys out there should be buying spot Bitcoin, not the
• 1:11:52
  ETF. Just a real.
• 1:11:54
  Bitcoin. Just buy a real Bitcoin.
• 1:11:56
  Be a pure coiner. Use real bitcoiner.
• 1:12:00
  And like all this noise, this is all noise, This is Wall Street
• 1:12:04
  trying to pump their bags and get into the game.
• 1:12:06
  And like we're seeing, we're seeing that Wall Street and
• 1:12:10
  government officials are trying to capture Bitcoin.
• 1:12:13
  They're trying to regulate Bitcoin.
• 1:12:14
  And the best way to protect yourself is running the nodes
• 1:12:16
  taking Bitcoin into custody. Yes, maybe your dad never going
• 1:12:20
  to hold Bitcoin directly and he just wants exposure to it.
• 1:12:23
  This is, this is all good for Bitcoin.
• 1:12:26
  And on that note, Nico, we have been getting some some comments
• 1:12:32
  on our YouTube about you guys watching the channel.
• 1:12:37
  I don't know if you guys are trolling us, but you guys, you
• 1:12:40
  guys say you love the channel and you are asking us to help
• 1:12:45
  you to walk you through one-on-one.
• 1:12:46
  We have multiple of these. So this is just something we're
• 1:12:50
  floating around. Guys like you we give you guys
• 1:12:52
  the sauce every single day on the show.
• 1:12:54
  You guys can learn how to do Bitcoin like for free on the
• 1:12:57
  show. I do my best on the culture to
• 1:12:59
  give you guys actionable advice. You know our boy BTC sessions is
• 1:13:04
  doing the tutorials on how to do this correctly but we understand
• 1:13:08
  that people are afraid. So I don't know.
• 1:13:10
  Let us know in the chat or in the comments of YouTube if you
• 1:13:13
  guys would want us to give you one-on-one.
• 1:13:16
  You know hand holding here and showing you guys how to take
• 1:13:19
  Bitcoin into custody. But like I I do my best to show
• 1:13:22
  you guys for free on the channel and it this is what you need to
• 1:13:26
  do. Guys, yes, Bitcoin ETF is cool.
• 1:13:28
  Yes, we're going to have the Wall Street marketing team
• 1:13:32
  market Bitcoin, and now everyone and their mother will know
• 1:13:36
  Bitcoin. They'll they'll at least be
• 1:13:37
  exposed to the signal. But you didn't take Bitcoin into
• 1:13:41
  custody. Most Bitcoin is already in
• 1:13:43
  custody, and I've been saying for a while, you're going to
• 1:13:45
  have to make it through the huddle.
• 1:13:46
  Buyout zone. BlackRock will have to.
• 1:13:49
  Or Wall Street. Whatever you want to use,
• 1:13:51
  whatever nomenclature you want to use, we'll have to
• 1:13:53
  incentivize you to sell your Bitcoin.
• 1:13:55
  But if you've been watching this show for a while, then you
• 1:14:00
  should know why you hold Bitcoin.
• 1:14:02
  And again, I I referenced the white paper like every single
• 1:14:07
  time I bring this up, it was literally the first paragraph or
• 1:14:10
  the second paragraph in the white paper.
• 1:14:12
  The reason for the creation of Bitcoin is so you don't have to
• 1:14:16
  trust middle men, You don't need trusted third parties to
• 1:14:20
  interact with your money. So on that note, I would not
• 1:14:25
  trust these institutions to custody your Bitcoin.
• 1:14:29
  Yes, if if for whatever reason you have your 401K and you can't
• 1:14:33
  get spot Bitcoin directly, you know exposure to bitcoins better
• 1:14:36
  than no exposure to Bitcoin, and I would want that too.
• 1:14:40
  But you don't need to trust the trusted third parties.
• 1:14:43
  If you can, and most of you can, you just buy Bitcoin directly.
• 1:14:47
  You either transact peer-to-peer or you use an exchange.
• 1:14:51
  Or you know you just sell your goods and services for Bitcoin
• 1:14:55
  but you want to set up a wallet that you own the keys because
• 1:14:59
  then you can avoid the rug pools.
• 1:15:01
  And the rug pools will continue until self custody improves.
• 1:15:06
  So guys, we have the marketing team of Wall Street now chugging
• 1:15:11
  along pumping Bitcoin. And I think this year we will
• 1:15:15
  see a increase in price movement, an increase in
• 1:15:18
  liquidity and volume going into Bitcoin.
• 1:15:20
  And yeah, maybe, maybe the release of today of the ETFs was
• 1:15:24
  lacklustre because everyone thought it was just going to go
• 1:15:27
  absolutely nuclear. It's just part par for the
• 1:15:30
  course, guys. Make sure you're taking custody
• 1:15:33
  of your Bitcoin control. The keys transact peer-to-peer.
• 1:15:37
  Hold that Bitcoin long term, it is the best store of value in
• 1:15:41
  the world. Anyways, Nico, we are going long
• 1:15:44
  so. We are, we are, we are going
• 1:15:46
  long. We have a chat about 3038%.
• 1:15:50
  It is like it is like kind of live about 35.
• 1:15:53
  Thirty 40% of you guys 36 votes said that you do want us to
• 1:15:58
  offer one on ones to help you take self custody.
• 1:16:02
  About 60% of you guys, I'm assuming you are you guys are
• 1:16:05
  already hardcore bitcoiners and you already know how to take
• 1:16:07
  self custody. 60% of you guys said no.
• 1:16:11
  So it looks like there is a portion of you guys that you
• 1:16:14
  know could potentially want that.
• 1:16:17
  We're going to discuss it internally.
• 1:16:18
  It's just we've been seeing these comments and then we're
• 1:16:21
  just kind of like that's interesting.
• 1:16:23
  I also do want to mention BTC sessions is incredible tutorials
• 1:16:27
  guys. If like if you're new to this
• 1:16:30
  and you know you could check out like literally he will literally
• 1:16:33
  walk you through in a video how to take self custody.
• 1:16:37
  He also offers one on ones. So anyways it's something for us
• 1:16:42
  to discuss internally and talk about but but yeah guys if it's
• 1:16:47
  you know ETF Bitcoin is captured Bitcoin.
• 1:16:50
  It's not real Bitcoin. Real Bitcoin is Bitcoin in self
• 1:16:55
  custody. So learn how to do it.
• 1:16:57
  Literally guys, I'm going to the sponsors and partners that we
• 1:17:01
  partner with. Like literally.
• 1:17:04
  Like, we literally show you the products to do this with.
• 1:17:08
  Get yourself a passport hardware wallet.
• 1:17:10
  I got both of. Them too, Nika.
• 1:17:11
  All right, so you get a hardware wallet, a passport by
• 1:17:17
  foundation, you set it up, and then you put your seed phrase on
• 1:17:21
  titanium. So if your house burns down or
• 1:17:24
  whatever your seed phrase is in with.
• 1:17:27
  This hammer. Like literally like this.
• 1:17:29
  Is pretty much all you need to do.
• 1:17:31
  But I honestly, in in fairness Nico, I do remember the first
• 1:17:35
  time I did my first Bitcoin transaction.
• 1:17:38
  Throw tomatoes all you want. You know, I was on Coinbase back
• 1:17:41
  in the day and I I think I bought like my first $100 and
• 1:17:44
  then finally on Twitter, they're like take custody of your
• 1:17:47
  Bitcoin and you know, you know, I'm a millennial.
• 1:17:49
  I'm pretty computer savvy. I wouldn't say I'm a computer
• 1:17:52
  illiterate. I I, you know, I use, I use a
• 1:17:54
  phone, I use an Apple phone. So I'm, I'm kind of computer
• 1:17:57
  illiterate, you know what I'm saying?
• 1:17:58
  But anyways, I remember sitting there and it was late at night.
• 1:18:00
  It was dark. I had no lights on.
• 1:18:02
  I was watching Andres Ontonopoulos and I sent myself a
• 1:18:05
  transaction. And before I really knew how it
• 1:18:08
  worked, there was like a moment where I thought, wow, maybe
• 1:18:12
  maybe I just lost that $100. So I really do know that there
• 1:18:16
  is a mental leap. And look, hey, we all know how
• 1:18:19
  easy it is to use an iPhone, but there's still like the Apple IT
• 1:18:23
  team, you know, like that's that's still a thing.
• 1:18:26
  People don't understand how technology works and this is
• 1:18:29
  what we're all doing here guys. This is why you're the Uncle Jim
• 1:18:32
  for your family and stuff is because there is a certain
• 1:18:35
  learning curve to being sovereign and we want to help
• 1:18:40
  everyone as much as possible. We're going to constantly give
• 1:18:43
  you guys the free show, so but you know if if tutorials scare
• 1:18:49
  you we'll we'll be talking about this.
• 1:18:52
  But guys, you need to take custody of your Bitcoin.
• 1:18:54
  It is the most important thing as far as I'm concerned. 100
• 1:18:58
  percent, 100% All right, everybody.
• 1:19:00
  That was our episode for Thursday.
• 1:19:02
  I hope you enjoyed it. The new segment was long and you
• 1:19:06
  know, we appreciate you guys for sticking it out.
• 1:19:08
  If you guys enjoyed the show, you know what to do.
• 1:19:11
  Smash that like button. Consider subscribing if you feel
• 1:19:14
  like we provided you value. But the number one thing you
• 1:19:16
  could do to spread the peaceful Bitcoin revolution is share
• 1:19:20
  Bitcoin called share Bitcoin culture.
• 1:19:22
  Share Bitcoin content, share Bitcoin podcast, share Bitcoin
• 1:19:26
  music, the memes, everything. Breitbart said it best, right?
• 1:19:30
  Politics is downstream from culture.
• 1:19:32
  We take over the culture, that's how we win this.
• 1:19:35
  But I think this spot Bitcoin ETF, despite all the pushback
• 1:19:40
  from the executive branch, is a major, major, major win.
• 1:19:43
  The Trojan Horse is inside the gates.
• 1:19:46
  And anyway, look at before we go.
• 1:19:48
  Before we go, Congratulations, we fret right last week.
• 1:19:51
  Let's. Go give, give you guys.
• 1:19:56
  Get, get, give you guys a pat. Give yourselves a pat on the
• 1:20:00
  back. Anyways, guys, we love you.
• 1:20:02
  We appreciate you. We'll be back tomorrow for
• 1:20:04
  another episode of Simply Bitcoin Live.
• 1:20:06
  Peace out, everybody.