Latest / Simply Bitcoin / Bitcoin SHOULD Be OVER $550,000 Based on This Metric | EP 1183

Transcript

Bitcoin SHOULD Be OVER $550,000 Based on This Metric | EP 1183 · Simply Bitcoin

• 0:00
  While the Bitcoin price is going sideways, there's one metric
• 0:04
  that continues to hit new all time highs and Bitcoin Ogs like
• 0:09
  Max Keiser say that Bitcoin should be already over five,
• 0:14
  $500,000 per coin just according to this indicator.
• 0:19
  So today, so today we're going to be exploring why the Bitcoin
• 0:22
  hash rate hitting new all time highs is more important than
• 0:27
  most people think. And we have a special treat for
• 0:30
  you guys because we got Frank Holmes in the house, executive
• 0:35
  chairman of Hive Digital Technologies, the first publicly
• 0:39
  traded Bitcoin mining company to explain what's happening in the
• 0:42
  mining space and why we're seeing nation states all around
• 0:46
  the world competing to mine as much Bitcoin as they possibly
• 0:51
  clan. Anyways, before we start the
• 0:52
  show, I do want to bring up my legendary Co host who's always
• 0:55
  optimistic, Optimus Fields. And of course, we got Frank
• 0:59
  Holmes in the house who's getting ready to go to Europe,
• 1:03
  but he joined us today. Frank, how you doing?
• 1:08
  I think he said he couldn't hear us.
• 1:10
  I hear you now. Oh.
• 1:12
  OK, he just saying, how you doing this morning?
• 1:15
  How you doing, Frank? Outstanding.
• 1:18
  Frank, so some big news, big news coming out.
• 1:22
  So first I want to talk about the hash rate.
• 1:23
  Because the hash rate continues to make time highs.
• 1:27
  Is there a significance to it? Because Max Keiser basically is
• 1:30
  making the case that that the Bitcoin that the hash rate
• 1:35
  precedes the price. Is there some truth to that?
• 1:47
  I don't think he even hears Nico.
• 1:50
  I can't hear him. Oh, he can't hear you, Nico.
• 1:54
  Oh, that's so weird. So Frank, what Nico was just
• 1:58
  saying is we're looking here at the hash rate and he asked you
• 2:01
  or pose you the question, does the hash rate proceed the price
• 2:06
  increasing as a Bitcoin miner? What's your thoughts on this?
• 2:10
  Yes, it does. What's going to happen is that
• 2:12
  you're going to see a lot of inefficient machines have to
• 2:15
  drop off and less than get cheap, cheap electricity.
• 2:18
  Then there's going to be less people competing.
• 2:21
  And, and so I, I think that historically this creates that
• 2:26
  sea change. Love it, love it.
• 2:29
  OK, let's see, is Nico back? Yeah, there we go.
• 2:32
  Frank, can you hear me now? I hear you perfectly now.
• 2:35
  Perfect. OK, so it's just a a small bug
• 2:38
  on restreams and but yes, going back to the the chart that that
• 2:43
  I pulled up. So I frank, I think a lot of
• 2:46
  people were, a lot of people were expecting essentially total
• 2:51
  chaos, the mining industry to essentially shut down when the
• 2:54
  China mining ban happened. But the exact opposite happened.
• 2:58
  A lot of that hash rate decentralized all around the
• 3:01
  world. A lot of it went to Texas, a lot
• 3:04
  of it went to Kazakhstan. And the hash rate recovered
• 3:08
  very, very quickly. And now it continues to hit all
• 3:12
  time highs. Do you expect this trend to
• 3:14
  continue? Yes, I, I think there's lots of
• 3:18
  countries that want U.S. dollars and, and so they're lighting up
• 3:22
  machines to get access to currency.
• 3:26
  And that was one of the concerns and points that were brought out
• 3:28
  that Russia increases Bitcoin mining with its with its cheap
• 3:33
  energy sources so they can get U.S. dollars.
• 3:38
  Absolutely, absolutely. And there is also.
• 3:40
  You know, you know what I think, I think we're getting into a
• 3:43
  scenario where you see other asset classes like gold, dollar
• 3:48
  and Bitcoin all distance himself from paper, other paper
• 3:52
  currencies that the growth in Tether is over a signature that
• 3:57
  there's a strength and a need outside of America for U.S.
• 4:01
  dollars. Otherwise it wouldn't have grown
• 4:03
  to its its power in his position.
• 4:06
  And when we saw this this past week with gold and Bitcoin,
• 4:11
  they're all, they're in a very strong position.
• 4:14
  Yeah, absolutely at 100% agree with you.
• 4:17
  I think gold is on the verge. I think it's at 3K.
• 4:21
  But Frank, you guys had some very, very exciting
• 4:24
  announcements over there at Hive.
• 4:26
  This this report that dropped on February 11th for our audio
• 4:31
  listeners. Hive announces quarterly revenue
• 4:34
  of 29.2 million, Adjusted EBITDA of 17.3 million with an increase
• 4:42
  in Bitcoin holdings to 2000 and 2805 BTC.
• 4:49
  So I have some questions regarding the report, Frank.
• 4:53
  So the Paraguay expansion and hash rate growth Hive is aiming
• 4:59
  for a 4X increase in hash rate to 25 XA hashes by September
• 5:05
  2025. And of course, that's primarily
• 5:08
  through its 300 MW expansion in Paraguay.
• 5:12
  Could you talk a little bit about that?
• 5:14
  Sure. I think the big highlight here
• 5:17
  is that for that past quarter, people didn't expect such robust
• 5:20
  results after the halving. And so even after the halving,
• 5:24
  we show very strong healthy operating income, EBITDA and and
• 5:30
  revenue. So I think that that's what's
• 5:32
  significant. The other significant part is
• 5:34
  it's like over a 60% increase in our hotel position.
• 5:39
  And I think that that was something else that was, that
• 5:41
  was important because we've done it organically.
• 5:43
  We have not done these funky convertible debs to go and buy
• 5:47
  Bitcoin from the open market. We have basically grown our
• 5:51
  position organically and, and, and I don't think the street
• 5:55
  recognized that and immediately we had upgrades coming from
• 5:58
  brokers and Canaccord had a glowing report.
• 6:02
  So I we're very efficient and effective what we're doing.
• 6:05
  But the picture is really simple.
• 6:06
  When you look this year, we have the fastest expansion this year
• 6:11
  of all the Bitcoin mining companies.
• 6:14
  There's no one that has a 400% lift.
• 6:16
  And we have a critical path like having a baby in nine months,
• 6:21
  we'll be up to a Bitcoin where it is today about 500 million in
• 6:25
  revenue. And when you look at those
• 6:27
  valuations for data centers business and throwing off over
• 6:31
  $200 million of EBITDA by that time, that's worth $2 billion
• 6:37
  market cap. So I, I think that that's why a
• 6:40
  lot of the brokers were reciting that we, they believe that we
• 6:45
  have 9 to $11.00 target price. Absolutely incredible.
• 6:49
  And then, Frank, I have another question as well, which is
• 6:52
  Hive's HPC business has reached a $10 million annualized run
• 6:57
  rate and it's projected to generate $12 million in cloud
• 7:01
  computing and AI model training revenue by Q2 of 2025.
• 7:06
  How does this pivot towards AI and HPC complement your Bitcoin
• 7:11
  mining operations and what long term operate opportunities do
• 7:15
  you see in this space? Well, there's lots of
• 7:19
  opportunities because we're seeing hedge funds come in and
• 7:23
  and take a position and write and tell them they have to
• 7:26
  reposition their surplus electricity for HPC, not Bitcoin
• 7:30
  mining. There's rumors are 15 extra hash
• 7:34
  in West TX where that energy is going to be shutting down
• 7:37
  Bitcoin mining going into HBC. So there's no doubt that HBC is
• 7:42
  a growth sector. And for us we've taken our
• 7:46
  Ethereum mining chips, the NVIDIA chips and we reposition
• 7:51
  to without hiring lots of people, without any great
• 7:54
  expansion. We've been able to get high
• 7:57
  margin business out of that. So our run rate, our goal is to
• 8:01
  get it up to 100 million in revenue and that would mean we'd
• 8:04
  have to have 10 megawatts of electricity.
• 8:09
  And and that's the goal. And we feel that we're on that
• 8:11
  cusp of of having a significant increase in our HPC like we have
• 8:17
  now for our Bitcoin mining. Absolutely.
• 8:21
  So also very interesting in the report included Frank, which is
• 8:26
  Hive reported $1.3 million net income after tax, a major turn
• 8:31
  around from the seven point from the $7,000,000 loss in the same
• 8:35
  quarter of last year. What were the key drivers behind
• 8:39
  this financial improvement and how does HIVE plan to maintain
• 8:42
  profitability in the face of the Bitcoin having and potential
• 8:46
  market volatility? I think the biggest thing is
• 8:49
  depreciation. The average company out there,
• 8:52
  the majority depreciate their ASIC chips over four years.
• 8:57
  We do it over two. We have an accelerated
• 9:00
  depreciation and every month we're upgrading the facilities
• 9:04
  with more efficient machines. That's that's our business
• 9:07
  model. So last year we had a much
• 9:09
  bigger depreciation charge compared to what we had this
• 9:14
  past quarter. And but what really is important
• 9:18
  is, is your EBITDA and your operating income.
• 9:21
  And the team is very proud that even during the whole Celsius to
• 9:27
  FTX blow up and Bitcoin fell down to under $15,000, we still
• 9:33
  had operating income during that period.
• 9:35
  So now we've come off those lows and we continue to have even
• 9:39
  more robust operating income and that's what the difficulty
• 9:43
  rising. So most people that if they
• 9:46
  haven't upgrade their machines and the difficulty words gone,
• 9:49
  which you highlight at the beginning of the show, they're
• 9:51
  out of business. There's no margin for them.
• 9:54
  Bitcoin would have to be $200,000 for them to have any
• 9:57
  type of margin. So what we've done on that, on
• 10:00
  that strategy is to upgrade every month new machines, old
• 10:05
  ones going off to other places. Absolutely.
• 10:11
  And then Frank, I wanted to ask you about Hives Bitcoin holdings
• 10:15
  for anyone who's listening right now.
• 10:17
  We just broke 1000 live viewers across YouTube Rumble and X
• 10:21
  smash the like button. Help us break 100 likes within
• 10:25
  the first hour of the show. For anyone of those to know,
• 10:28
  Hive is the 13th largest Bitcoin publicly traded Bitcoin holder
• 10:34
  in the world. They currently just increase
• 10:37
  their Bitcoin holdings to 2805 BTC, now valued at over $260
• 10:44
  million, a 200 and 62163% year over year increase.
• 10:51
  What strategic decisions allowed you to grow holdings while
• 10:55
  keeping shareholder dilution among the lowest in the
• 10:58
  industry? Frank.
• 11:00
  Well, I'm a fund manager, so we have a very disciplined capital
• 11:04
  return on invested capital model.
• 11:06
  And at times we'll we'll sell some Bitcoin just like you know,
• 11:11
  the the fact that we could fast track our growth with buying bit
• 11:14
  farms operations and completing those.
• 11:18
  We we've been public that we sold some because we've got it
• 11:21
  that we believe is much more baked in and then we'll quickly
• 11:25
  start to expand our whole position and our goal is to get
• 11:29
  back to being in the top ten Bitcoin holders.
• 11:34
  Yeah, and it's, but you guys have a lot of Bitcoin 2805
• 11:39
  Bitcoin is definitely no small feat.
• 11:44
  So Frank, I have another question for you in regards to
• 11:48
  wait, where is it that I lose track here it is.
• 11:50
  So Hive recently issued over 21 million shares raising 87.5
• 11:56
  million through its at the market equity program.
• 12:00
  How do you balance shareholder dilution with the need to
• 12:02
  finance growth and how will these funds be deployed to
• 12:06
  maximize long term value? So part of that process, that
• 12:11
  money goes to upgrading with machines.
• 12:13
  Part of that process allows us to go on and and expand into
• 12:19
  Paraguay. But coming back earlier is that
• 12:23
  we have a daily huddle every morning over nine time zones of
• 12:27
  where cash flow is, what machines are working.
• 12:30
  And then every time we're going out to buy new machines for
• 12:33
  immediate delivery, it just cost money.
• 12:37
  And and with that we say, OK, well what's the highest cash
• 12:40
  flow return on capital? So we get our money back
• 12:42
  quickly. We came into a great deal last
• 12:45
  year in buying a main equipment for for Paraguay.
• 12:50
  So we've already spent a ton of money in preparation for that
• 12:53
  growth in Paraguay and and so that, that makes us comfortable.
• 12:57
  So I would say about half of those funds were buying
• 13:00
  equipment for expansion and for upgrading.
• 13:06
  What are you the most excited about Frank for 2025?
• 13:11
  Of course, the political situation change with the
• 13:13
  election of Donald J Trump, the so-called end of Operation Choke
• 13:19
  .2 point O, the expansion of course, of the Paraguay
• 13:23
  facility, which I, I, I think simply Bitcoin wants to go down
• 13:27
  there, make some content and check it out if you guys would
• 13:30
  allow. So what has you the most excited
• 13:34
  about 2025 and where? What should shareholders know?
• 13:39
  Well, the biggest thing is to execute on getting this
• 13:43
  production up to a $500 million run rate when you have only 22
• 13:48
  employees will have incredible revenue per employee will be the
• 13:53
  the, the most profitable organization with the lowest GNA
• 13:57
  to mine Bitcoin that that's the goal.
• 14:00
  So if now is to stay very focused over like having a baby
• 14:04
  over the next nine months, make sure that the the mummy's
• 14:07
  healthy and the baby's growing and, and that's what we're
• 14:11
  doing. And, and in addition to that, we
• 14:15
  have some exciting news of our HPC build out.
• 14:18
  And so that'll be coming next week.
• 14:21
  We have someone in the chat that said that they just bought the
• 14:24
  stock. Does that mean they get a hat
• 14:26
  too, Frank? Absolutely send them to Nathan.
• 14:30
  Nathan fast and he'll get it to you.
• 14:32
  Fast, not slow. Is super, super fast.
• 14:35
  That's how you get all this merch.
• 14:36
  That's how you get all this Hive merch.
• 14:39
  Nathan at Hive Digital Technologies, ask him for some
• 14:42
  Hive merch and he'll hook you up.
• 14:45
  Anyways, Opti, I'm going to pass it on to you.
• 14:46
  Do you have any questions for Frank before?
• 14:48
  I know, I know. He has to catch a flight.
• 14:50
  Yeah, Yeah. I, I have one simple question,
• 14:53
  more of a general take on the whole mining industry.
• 14:56
  Considering the Bitcoin price has been, you know,
• 14:58
  consolidating kind of stagnant around 100K, how worrisome is
• 15:02
  this for a lot of the miners in the space right now if the
• 15:05
  Bitcoin price doesn't run? I know you're telling us you
• 15:07
  have a good balance sheet, but if things don't start moving,
• 15:10
  could this get really bloody for the mining space at large?
• 15:13
  What's your thoughts on that? Yeah, I, I, I, I would say yes.
• 15:18
  I would say that unless they have cheap, cheap energy,
• 15:22
  they're gonna be very stressed. And so we've made many press
• 15:26
  releases of getting our, our Terra houses down the joules per
• 15:32
  second consumption of electricity.
• 15:35
  And, and so I think that a lot of people just take the money
• 15:38
  off the table and don't reinvest on a systematic way.
• 15:42
  I call it binge drinking on a big, big buyer of these
• 15:46
  machines. And, and then you wait for the
• 15:48
  delivery and then you get your money back and, and then you
• 15:51
  wait for another cycle that's over.
• 15:54
  Now it's so competitive. If you're not regularly in the
• 15:59
  in the oil and gas business, fracking, you have to drill all
• 16:01
  the time. If you're not upgrading all the
• 16:04
  time, you will have great difficulty as more people come
• 16:08
  into the network. One more spotty, did you?
• 16:12
  Yeah. I was going to, I don't know if
• 16:14
  we're going to ask the same question, but I do have one
• 16:16
  slight question you could go. I was thinking more of like, is
• 16:19
  the tariffs and all of this import stuff affecting miners
• 16:22
  coming into the States? I, I think they find a way
• 16:27
  around it getting stuff assembled in Malaysia and then
• 16:32
  it comes into the US or Vietnam. So, and as we all know that a
• 16:38
  tremendous amount of, of equipment gets assembled now in
• 16:42
  Mexico for the last mile and comes into America around those
• 16:46
  tariffs. I I think if a tariff goes
• 16:50
  against Mexico, then that would be significant, much more so.
• 16:57
  Awesome. Well, Frank, I, I know that you
• 16:59
  have to catch a flight, guys, if you want Hive merch, I'm putting
• 17:03
  the, I'm putting it on the screen right now.
• 17:05
  Nathan at Hive, digitaltechnologies.com you'll
• 17:08
  get the hat that Opti's wearing right now, the hat that Frank is
• 17:13
  wearing right now. We're at 1500 live viewers.
• 17:17
  Frank, any final thoughts before?
• 17:19
  Yeah. Please, please see the webcast
• 17:23
  you have the link there to that walks through the slides that
• 17:26
  gives you a a detailed comparative and competitive
• 17:29
  analysis against all the other crypto miners and shows you the
• 17:33
  wonderful value proposition that Hive gives investors.
• 17:37
  So I, I, I went through the CEO and in wonderful detail of that.
• 17:43
  So I yeah, and, and I highly recommend you watch the the the
• 17:47
  clip. Absolutely.
• 17:49
  Everyone. So guys, I'm showing y'all.
• 17:51
  Thank you, Frank. Appreciate it.
• 17:53
  I'm showing it on screen right now and what we'll share the
• 17:55
  YouTube channel as well. Thank you, Frank for for joining
• 17:59
  us on the show today. Appreciate it.
• 18:04
  All right everybody, we got a loaded show for you guys.
• 18:07
  Appreciate Frank Holmes, executive chairman of Hive
• 18:11
  Digital Technologies joining us. The first ever publicly traded
• 18:15
  Bitcoin miner. They're currently holding 2805
• 18:19
  Bitcoin. And again, if you want Hive
• 18:21
  merch, e-mail Nathan at Hive Digital Technologies.
• 18:26
  Get that Hive merch today, guys. We have a jam packed show for
• 18:30
  you guys. So much news.
• 18:32
  Abu Dhabi, the Abu Dhabi sovereign wealth fund just
• 18:36
  announced that they own that they own $436 million worth of
• 18:44
  Bitcoin exposure. It's just not only Abu Dhabi,
• 18:48
  Canada's largest bank has invested in Bitcoin.
• 18:52
  Goldman Sachs has increased their exposure.
• 18:55
  The State of Wisconsin Investment Board discloses $321
• 19:00
  million of Bitcoin ETF holdings. Barclays reports owning $131
• 19:07
  million worth of Bitcoin. So much bullish news.
• 19:12
  A Hong Kong based investment company reported owning $599
• 19:18
  million worth of Bitcoin exposure as well.
• 19:23
  And during the news segment, we're going to be talking about
• 19:26
  Tether. So Tether may be forced to sell
• 19:29
  some of their Bitcoin holdings as a stablecoin regulation in
• 19:35
  the United States continues regarding the stable act and the
• 19:40
  genius act as well. And that might cause some
• 19:43
  downward cell pressure, who knows?
• 19:45
  So we have a jam packed show for you guys.
• 19:47
  Stay tuned. Smash the like button.
• 19:50
  This is the Friday special. And of course, Opti has the
• 19:54
  culture segment. Opti, what are we going to talk
• 19:56
  about during the culture segment before we start the show?
• 19:58
  Yeah, well the pod father, AKA Adam Curry was on.
• 20:04
  Joe Rogan believe it was yesterday and Joe Rogan gets
• 20:08
  gets schooled on why meme coins are scams, why shit coins are
• 20:12
  scams. And so, you know, we always got
• 20:14
  to bring up a good little lesson here.
• 20:16
  And it sounds like Joe Rogan is starting to, you know, agree on
• 20:20
  the Bitcoin message. He's not fully there yet.
• 20:22
  We know holds a little Bitcoin, but we'll play that clip for you
• 20:25
  guys and then we'll discuss. A little bit absolutely, guys,
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  simply, you get 15% off anything on the stamp se-ed.com website
• 24:09
  and don't write down your seed words on paper.
• 24:12
  Stamp them onto titanium. At the time of recording, the
• 24:15
  Bitcoin price is $98,470, block height 883,770 sixty five.
• 24:23
  So that's for a dollar. 1015 market cap 1.95 trillion Bitcoin
• 24:28
  versus gold market cap 9.65% percentage issued 94.4% decline
• 24:34
  from all time high -9.7% realized monetary inflation
• 24:39
  defined as money supply increase over prior 365 days 1% again
• 24:46
  again. Continuing to take Fiat
• 24:48
  currencies to absolute school. All right ladies and gentlemen,
• 24:51
  we got a ton of back-to-back bullish news for you guys.
• 24:55
  The amount of Bitcoin that's being bought is absolutely,
• 24:59
  absolutely ridiculous. Goldman Sachs, generally known
• 25:02
  for being a conservative wealth management bank, has increased
• 25:06
  its Bitcoin exposure to over 2 billion via the ETFs, according
• 25:11
  to its latest SEC filing. Canada's third largest bank,
• 25:16
  Bank of Montreal, invested 150 million in Bitcoin ETFs,
• 25:21
  primarily Blackrock's iShares Bitcoin ETF, according to latest
• 25:27
  filing. Next one, Abu Dhabi's sovereign
• 25:30
  wealth fund. This was confirmed.
• 25:32
  This was a rumor that was coming out of the Bitcoin MENA
• 25:35
  conference. Now it is confirmed.
• 25:38
  Abu Dhabi's sovereign wealth fund bought $436 billion of
• 25:44
  exposure to Bitcoin via ETFs in quarter one.
• 25:49
  Now, what's really, really interesting about all of this is
• 25:52
  that the United States just announced a sovereign wealth
• 25:56
  fund. I'm telling you, if other
• 25:58
  sovereign wealth funds around the world are buying Bitcoin,
• 26:03
  there's a very high probability that the United States sovereign
• 26:08
  wealth fund is going to buy Bitcoin as well.
• 26:12
  And by the way, this is a completely separate thing than
• 26:16
  the strategic Bitcoin Reserve. The sovereign wealth fund
• 26:20
  initiative is led by Howard Lupnik.
• 26:23
  Howard Lupnik is the chairman of Counter Fitzgerald.
• 26:26
  Counter Fitzgerald manages all of Tethers money.
• 26:30
  Also, Howard Lupnik was on a podcast with Anthony Pompliano.
• 26:34
  In that podcast he said that he plans to buy, using his words,
• 26:39
  not mine, 10s of millions of 10s of millions of dollars with the
• 26:43
  Bitcoin and then hundreds of millions of dollars with the
• 26:45
  Bitcoin. And he's the man in charge of
• 26:48
  the US sovereign wealth fund. What do you think that what do
• 26:51
  you think is going to go in the US sovereign wealth fund?
• 26:55
  I mean, it's not rocket science. And remember, guys, there's only
• 26:59
  21 million, there's only 21 million Bitcoin.
• 27:04
  So eventually something's got to give and price is going to go
• 27:08
  up. State of Wisconsin Invest
• 27:10
  Investment Board discloses $321 million Bitcoin ETF holding
• 27:17
  Moving on Bark Please reports owning $131 million worth of the
• 27:23
  Bitcoin ETF going on, a Hong Kong based investment company
• 27:28
  reported owning $599 million worth of Bitcoin exposure as of
• 27:35
  December 31st. Here's David Bailey, CEO of BTC
• 27:41
  Inc, which owns the Bitcoin conference and Bitcoin Magazine.
• 27:44
  And he says confirm sovereign wealth fund buying from the
• 27:47
  world's biggest sovereign wealth fund.
• 27:49
  How is price not pumping? I think that's a really, really
• 27:52
  good point. And here is Anthony Pompliano.
• 27:54
  And then I'm going to open it up so me and Opti could talk about
• 27:57
  it. The world's largest sovereign
• 27:59
  wealth fund just told you they are buying Bitcoin.
• 28:03
  There will only be 21 million available.
• 28:06
  I wonder what happens now that nation states are here.
• 28:09
  You know what happens? It's going up forever, Laura.
• 28:12
  That is what is happening. So overall, incredibly bullish
• 28:17
  news happening everywhere. Hive is kicking ass.
• 28:22
  ETFs all over the world are buying Bitcoin.
• 28:25
  Pension funds are buying Bitcoin, endowments are buying
• 28:29
  Bitcoin, Opti is buying Bitcoin, Niko's buying Bitcoin.
• 28:33
  Everyone's buying Bitcoin. Eventually number will go up
• 28:37
  because it's 21,000,000 divided by is it?
• 28:39
  It's Infinity divided by 21 million.
• 28:42
  Anyways Opti this is crazy but I think I agree with Mr. Hoddles
• 28:48
  point like why isn't the price going up dude?
• 28:52
  Like, like everyone's buying all this Bitcoin, but the price is
• 28:56
  still out on your K What's going on?
• 28:59
  Yeah. Well, first of all, just to
• 29:01
  acknowledge, I think the big elephant in the room here is,
• 29:05
  you know, sovereign wealth fund buying Bitcoin.
• 29:07
  We've been hearing rumors for a long time, actually what's like
• 29:09
  months now, a solid one or two months about, you know,
• 29:13
  sovereign wealth funds in the Middle East buying Bitcoin.
• 29:16
  They were kind of slow rolling that announcement.
• 29:18
  And now we get a huge announcement that they're buying
• 29:20
  a huge chunk of Bitcoin. And it really, I think it's
• 29:24
  putting the pedal to the metal in regards to what is the US
• 29:28
  doing. They have to really start to
• 29:30
  kind of pick up on on this trend here or else they're going to be
• 29:33
  left in the dust. I would not kind of argue they
• 29:35
  already are being left in the dust here.
• 29:37
  So if the US doesn't want to lose here, they are going to
• 29:40
  have to get Bitcoin exposure and hopefully, you know, buy Bitcoin
• 29:44
  straight. And I think that's the big
• 29:45
  elephant, you know, in regards to the ETF is if there are
• 29:50
  buying what what was the number that was like a trillion dollars
• 29:53
  of buying pressure right now, everyone's been kind of asking
• 29:57
  whether these ETF's are actually buying Bitcoin or not or why is
• 30:00
  the price not going up. And as Mr. Hoddle kind of said
• 30:04
  in there, if you guys saw the screenshots, you know, it's
• 30:06
  like, are they really buying Bitcoin or are they just buying
• 30:09
  Bitcoin IO us. And I think this is the
• 30:10
  conversation we're all wondering.
• 30:12
  It's like there seems to be so much institutional capital
• 30:16
  interested in Bitcoin. They're obviously buying the
• 30:18
  Bitcoin ETF. And if depending on who you're
• 30:21
  listening to, you can, you know, speculate whether they're
• 30:25
  actually buying that Bitcoin. And you know, I know
• 30:28
  Checkmatey's been on the B on Twitter saying that, yes, you
• 30:31
  can actually, actually not just Checkmatey, I think it's Sonny
• 30:34
  as well has been saying on Twitter that you can look on
• 30:37
  chain and see who, where that Bitcoin is going and who's
• 30:40
  actually buying. And they seem to be buying all
• 30:42
  that Bitcoin. But we're all kind of sitting
• 30:44
  here at 100K wondering like, man, is there really that many
• 30:47
  sellers of Bitcoin where all of this institutional capital
• 30:50
  coming into Bitcoin isn't pumping the price because hey,
• 30:54
  what 2017 or even 2021? If we heard that the Abu Dhabi
• 30:59
  sovereign wealth fund was buying Bitcoin, it seems like the
• 31:01
  Bitcoin price would have pumped. And then now considering that
• 31:04
  all these other institutions are buying Bitcoin, it's really kind
• 31:08
  of a head scratcher why they aren't, why the price isn't
• 31:11
  going up right now. But again, I think the US needs
• 31:15
  to kind of kick things into high gear here.
• 31:17
  And we can't be sleeping and sitting on our hands because now
• 31:20
  we know for a fact it's no longer just a rumor that a huge,
• 31:25
  you know, sovereign wealth fund in the Middle East is buying
• 31:27
  Bitcoin. So yeah, you know, Howard
• 31:30
  Lehtnik better hurry up and get our sovereign wealth fund
• 31:33
  running and buying Bitcoin and hopefully they're buying
• 31:36
  straight Bitcoin. Now, obviously I don't think
• 31:38
  that the that BlackRock, the I bit ETF would play games with
• 31:43
  Bitcoin right now. Obviously they want their
• 31:45
  Bitcoin ETF product to do well. So I think they are actually
• 31:48
  buying that Bitcoin, but it is kind of interesting and and the
• 31:52
  speculation is definitely going wild on why the the Bitcoin
• 31:55
  price isn't going up. It just there's so much buying
• 31:59
  pressure right now that I think the question we were asking
• 32:02
  yesterday when Bitcoin does kind of break out of this chopped
• 32:05
  solidation 100K consolidation, which way is it going to go?
• 32:10
  I think we can all kind of venture to guess that this is
• 32:12
  definitely going to go up and to the right and it's going to be
• 32:16
  very violent and you don't want to be sitting on the sidelines.
• 32:19
  Now the last thing I've been saying for a long time, with all
• 32:23
  of these people coming into Bitcoin and Bitcoin being
• 32:25
  legitimized by the suits and the institutions, the nation state,
• 32:29
  FOMO, even some, you know, very, very influential billionaire
• 32:35
  investors. It's really mind blowing that
• 32:38
  people are still sitting on the sidelines and thinking, oh, this
• 32:40
  Bitcoin thing is going to die. I've already missed a bubble
• 32:44
  from my vantage point. Obviously I have a bias here and
• 32:47
  I'm a Bitcoiner and it just seems like it's a no brainer at
• 32:50
  this point because of how many people are buying Bitcoin and
• 32:53
  not just us, you know, retail and Main Street, but some very
• 32:57
  big names are either totally invested in Bitcoin or at least
• 33:01
  getting some small exposure in Bitcoin.
• 33:04
  And you would think other people would wake up to this.
• 33:05
  It's like if the smartest people, the richest people in
• 33:08
  the room are talking about Bitcoin, you think people would
• 33:10
  start looking for some Bitcoin. But I guess people are just
• 33:14
  waiting for the Bitcoin price to run this 100K consolidation is
• 33:18
  just boring everyone to death. And you know, it's it's the the
• 33:21
  classic meme where no one wants to buy Bitcoin when bitcoins
• 33:25
  dipping or consolidation when it's boring.
• 33:27
  They only buy it when it starts running.
• 33:29
  So I guess people are going to buy Bitcoin once it breaks 100K.
• 33:32
  But man, the sovereign wealth fund news is huge.
• 33:35
  This is absolutely massive. Now, it's something I've been
• 33:39
  saying for a while that I think this year after a few couple
• 33:42
  quarters, we are going to see some really big names come out
• 33:47
  and announce that they are buying Bitcoin.
• 33:49
  And we actually have had that. So here we are.
• 33:53
  Things are getting. Crazy.
• 33:55
  Absolutely 100% Yep. Sorry, camera overheated.
• 33:58
  Boom, boom, boom. But yeah, no, things are getting
• 34:01
  crazy. We're winning.
• 34:02
  That's that's that. I know 100%.
• 34:05
  And you know, I think I think Orange Man was right when when
• 34:11
  he said that in Nashville, you guys are going to get tired of
• 34:14
  winning. I mean, are you tired of winning
• 34:16
  Opti? I mean this, this, this feels
• 34:18
  good, bro, this feels good. Someone in the chat says BTC is
• 34:22
  true. We were scamming everyone by
• 34:23
  buying BTC under 100 Ki Love that that is so that's so
• 34:28
  clever. Anyways, guys, you're listening
• 34:30
  to simply Bitcoin live. We're about to break 2000 live
• 34:33
  viewers across all platforms and we're at 522 on YouTube alone.
• 34:39
  Guys smash that like button. Help us break 200 likes within
• 34:43
  the first hour of the show. So if you guys are listening to
• 34:47
  us on YouTube, smash that like button.
• 34:50
  And I have a question for you guys as well.
• 34:52
  If you guys believe that Bitcoin is going to break 500K or is
• 34:58
  going to reach 500K in 2025, drop A1 in the chat.
• 35:02
  If you believe that Bitcoin isn't going to hit 500 K in
• 35:07
  2025, drop A2 in the chat. And if you believe that Opti is
• 35:12
  bearish, drop a three in the chat.
• 35:14
  You're listening to Simply Bitcoin.
• 35:16
  Smash that. Way drop A4 if Niko's a real.
• 35:19
  Bear all right everybody, we still have a ton of content for
• 35:24
  you guys incredibly bullish news, bullish Friday hives
• 35:28
  kicking ass. The ETFs are buying all the
• 35:30
  Bitcoin we're still getting. We still have the ability to buy
• 35:34
  discounted Bitcoin because it's still under 100 Ki mean like
• 35:38
  it's it's a Good Friday. I think it's gonna be a really
• 35:41
  really Goodyear. My Spidey senses are telling me
• 35:44
  just that. Guys, stay tuned because we
• 35:46
  still have a lot of news for you guys.
• 35:48
  We're gonna be talking about Joe Rogan talking about Bitcoin on
• 35:54
  his on his enormous podcast, the most popular podcast on the face
• 35:58
  of the planet. We're going to be talking about
• 36:00
  that during the culture segment. Also news segment, Tether may
• 36:04
  have to sell some Bitcoin to comply with US stablecoin rules.
• 36:09
  We're going to get into all the details of that, why it matters,
• 36:12
  and yeah, it should be great. Alright, everybody, stay tuned.
• 36:15
  We're going to hit the new segment.
• 36:17
  We will be right back. I want to give a shout out to
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  our sponsor Casa. Bitcoin security matters, but
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• 39:01
  right everybody, so let's jump straight into the Tether news.
• 39:05
  Tether may have to sell some Bitcoin to comply with US stable
• 39:10
  coin rules. So let me break down what's
• 39:12
  happening here to give you guys a little bit of context why all
• 39:16
  this matters OK, so this is what's going on.
• 39:21
  The original theory was that Bitcoin was going to be the
• 39:28
  currency of choice for people in developing countries because
• 39:32
  their local Fiat currencies were inadequate.
• 39:36
  They suffered from very high inflation.
• 39:40
  That was the theory by bitcoiners.
• 39:42
  What ended up happening instead was mass scale adoption of
• 39:49
  stable coins, specifically Tether USD T Now as bitcoiners,
• 39:55
  we didn't want that. We obviously wanted Bitcoin to
• 39:58
  be adopted and not another form of the dollar or the dollar,
• 40:02
  Light better said. But that didn't happen.
• 40:07
  So what I think is going to happen is that the fact that
• 40:13
  they're people in developing countries are adopting a non
• 40:17
  local currency is a Trojan horse towards Bitcoin.
• 40:22
  Let me explain. When you download a Tether
• 40:25
  wallet, like for example in Samsung Mal and we're, we're
• 40:28
  going to be dropping that Volcano podcast very soon, the
• 40:31
  Aqua wallet, it has 2 forms of, of, of money that you can have
• 40:37
  on the wallet. You can have Bitcoin and you can
• 40:39
  have tethered. I believe that Tether or stable
• 40:43
  coins in general are a Trojan horse for the adoption of
• 40:47
  Bitcoin. Let me explain to you why.
• 40:49
  If you live in the US, Oh my God, what is happening?
• 40:52
  I think the camera overheated. If you live in the US,
• 40:55
  essentially, if you live in the US, you have the privilege of
• 41:02
  being able to save. And with that excess savings,
• 41:10
  you're able to buy Bitcoin. So the inflation rate, you're
• 41:15
  looking at it and you're like, yeah, you know what?
• 41:17
  My purchasing power is going down.
• 41:19
  But if you're in the developing world, you don't have that
• 41:23
  luxury. You're living paycheck to
• 41:25
  paycheck. You're living just to get by.
• 41:28
  So bitcoins volatility actually might de incentivize you from
• 41:33
  adopting it. You want something actually more
• 41:36
  stable. So that's why I believe a lot of
• 41:38
  people in developing countries are wanting to adopt the dollar.
• 41:42
  Now, could they adopt the dollar by opening a bank account?
• 41:46
  No. They have to adopt the dollar by
• 41:49
  using stable coins, by using Tether, and that allows them to
• 41:54
  download a digital wallet and they can receive and send Tether
• 41:59
  from that digital wallet. Now, what's happening in the
• 42:03
  United States is what a lot of people don't know is that Tether
• 42:08
  is one of the largest buyers of U.S.
• 42:11
  Treasury bills, meaning they're funding the US government,
• 42:15
  right? They're funding the continuation
• 42:18
  of the Fiat system itself, right?
• 42:21
  So what they're realizing is, Oh my God, this is like a match
• 42:25
  made in heaven. Like like essentially this Fiat
• 42:30
  Ponzi thing that we have going. We could keep it going and we
• 42:34
  can expand global dollar usage via stable coins.
• 42:40
  So that's the phenomenon that's happening right now.
• 42:44
  I know what a lot of you guys are thinking, Nico, this is a
• 42:46
  Bitcoin show. What do I care about Tether?
• 42:49
  If you live in the US, you probably have never used Tether.
• 42:53
  There's no necessity for you to use Tether.
• 42:56
  Why? Because you can have a bank
• 42:58
  account. If you live in Europe, you can
• 43:00
  have a bank account as well. You don't have that privilege if
• 43:04
  you live in the global S, They won't let you open dollar
• 43:07
  accounts. But where I think this is going
• 43:11
  10 years from now, five years from now, 5 to 10 years from
• 43:14
  now, is that when people start being able to save in dollars in
• 43:20
  those countries, they're going to come to the same realization
• 43:24
  that we've come to realize here in the developed world, which
• 43:29
  is, you know, the dollar is better than the peso, the dollar
• 43:34
  is better than the Bolivar, but the dollar is still, forgive my
• 43:39
  language, shit compared to Bitcoin.
• 43:42
  So right now they're just trying to keep their head above water.
• 43:46
  Once they keep their head above, it's like the hierarchy of
• 43:49
  needs, right? Once they're once they keep
• 43:52
  their head above water and they're able to provide to their
• 43:54
  family because they're using a more stable currency that's not
• 43:57
  devaluing by, you know, by two percentage points a month and
• 44:03
  they're starting they're they'll be able to save.
• 44:06
  Then you start to ask questions about the dollar.
• 44:10
  And that's where I always make the argument that all roads
• 44:15
  inevitably lead to Bitcoin because eventually the, the
• 44:19
  developing world, the global S is going to come to realize
• 44:22
  like, wait a second, this dollar is better, but Bitcoin is even
• 44:28
  better. And the reason that Bitcoin's
• 44:30
  even better is because every single every single block that's
• 44:35
  found TikTok next block, it continues to prove that money
• 44:40
  can exist without inflation. And if money can exist without
• 44:46
  inflation, then like the rackets kind of over, right?
• 44:54
  So it's not an ideal situation. We obviously wanted a world
• 45:01
  where we always see, wanted a world where Bitcoin was going to
• 45:05
  be the currency that was adopted in developing world.
• 45:09
  But the market is saying that isn't the case, right?
• 45:14
  So anyways, that's why it's important to talk about this.
• 45:18
  Tether also has a huge role in the Bitcoin ecosystem.
• 45:22
  It funds a lot of Bitcoin companies and the tether guys
• 45:25
  themselves are Bitcoin Maxis, right?
• 45:29
  So imagine if the Tether guys were crypto Maxis like that
• 45:33
  would be horrible because the tether guys are only funding
• 45:36
  Bitcoin, only funding Bitcoin products and companies, right?
• 45:41
  And they also have one of the best Bitcoin conferences of the
• 45:43
  year, which is the the Plan B. So it's Plan B and Lugano,
• 45:47
  originally they just did one in El Salvador, right?
• 45:50
  So it's pretty cool. I personally like them.
• 45:53
  I know Opti is is not as much a big of a fan that I am.
• 45:59
  And but it's important as Bitcoiners that we come to
• 46:01
  realize that look, we're all free market Maxis here, right?
• 46:07
  And the free market has spoken and I don't think it's a
• 46:10
  negative thing and I think it's a temporary thing.
• 46:13
  And I think it's a Trojan horse for Bitcoin adoption.
• 46:17
  And I think if you are someone in developing world that is
• 46:21
  picking up a stable coin wallet and you're using that to
• 46:24
  survive, you're getting exposure to dealing with the financial
• 46:29
  system through a digital wallet. And then eventually you're going
• 46:33
  to find Bitcoin because Bitcoin is not only the superior money,
• 46:38
  but also the superior asset, right?
• 46:40
  So anyways, I wanted to give that little bit of a little bit
• 46:43
  of context before I drive in dive into the article.
• 46:46
  So Tether may have to sell some Bitcoin to comply with US
• 46:49
  stablecoin rules. It goes on to say here the key
• 46:52
  facts. Tether could face challenges
• 46:54
  from proposed US stablecoin regulations.
• 46:57
  JP Morgan said company suggests that Tethers reserves are only
• 47:00
  66% compliant under the Stable Coin Act and 83% under the
• 47:05
  Genius Act Bitcoin would be among the assets the company
• 47:09
  would would company may have to lighten up on.
• 47:12
  A Tether spokesperson said adapting to new requirements
• 47:16
  will be straightforward. So I think stable coins are here
• 47:20
  to stay temporarily. I think over the long run, I
• 47:25
  think Bitcoins going to win. But I think it's even more
• 47:28
  important. It's a call to action to all you
• 47:31
  guys to get involved, right, to educate your friends and family,
• 47:37
  to really get the people around you to come to realize what is
• 47:41
  Bitcoin, why should they should be using Bitcoin?
• 47:44
  I also think it's a call to action that people need to, we
• 47:50
  need to be able to scale Bitcoin, the second layer
• 47:55
  solutions Lightning has has, you know, made a tremendous amount
• 47:59
  of progress, but it's not quite there yet.
• 48:03
  And I the all the the other thing that I'll say as well is
• 48:06
  that guys, I wouldn't see Tether as an enemy.
• 48:11
  I would see Tether as a friend of Bitcoin.
• 48:15
  And I would say that the guys are Maxis and I would say that
• 48:18
  the guys want exactly what the rest of us want, which is hyper
• 48:22
  bitcoinization worldwide, right? But the market obviously is
• 48:27
  showing that there is a market need for dollars in the
• 48:32
  developing world because people need a currency that isn't
• 48:37
  volatile anyways, Opti, that's my take on all this.
• 48:40
  I know you have a different of AI, know that you have a
• 48:42
  difference of opinion. So if I'm ice, you're fire.
• 48:47
  What? What's your take on this
• 48:48
  brother? Well, I mean, just on this, do I
• 48:51
  do I do the tether stuff first, I guess, you know, like I don't
• 48:55
  use tether. I'm not a fan of tether.
• 48:57
  I, you know, person, maybe this is my first world privilege, you
• 49:00
  know, showing or whatever. But with that being said, the
• 49:04
  Tether guys are actually Bitcoiners historically, you
• 49:07
  know, during the block size war, they were on the right side of
• 49:10
  history. They're like, they're, they're
• 49:11
  Bitcoiners and I will give them that.
• 49:13
  And also they're and you guys can Fact Check me on this, but I
• 49:17
  think they are literally the most profitable company in the
• 49:21
  world right now. And they're a Bitcoin company or
• 49:23
  Bitcoin adjacent company. So it's hard to really hate on
• 49:26
  tether as a company personally. You know, my, maybe I'm being a
• 49:30
  high time preference here on this and I just, I just want to
• 49:33
  see more people actually end up in Bitcoin.
• 49:35
  I think my my critical stance is usually on the idea that I think
• 49:38
  people will kind of get complacent and get stuck in
• 49:40
  stablecoins. I personally have the view that
• 49:43
  stablecoins aren't actually stable.
• 49:45
  They, you know, there's always a chance or rather inevitably, it
• 49:49
  will unpeg from the stable aspects that they claim.
• 49:53
  But I'm just a Bitcoiner. I'm just like, look, just skip
• 49:56
  that step going to Bitcoin now on this article in particular,
• 49:59
  personally, this sounds like fun to me.
• 50:01
  Like, this sounds like a whole heaping load of FUD coming from
• 50:04
  JP Morgan. Obviously, from what I'm kind of
• 50:08
  reading between the lines, it seems like, you know, JP Morgan
• 50:11
  is kind of looking at Tether as competition and they're trying
• 50:14
  to flood their bags here. And the Tether guys are like
• 50:17
  the, the, you know, aligning to the new requirements are going
• 50:20
  to be easy. It's like this is this is minor.
• 50:22
  This is a cakewalk. So I think it's funny that it's
• 50:25
  coming from JP Morgan. We all know Jamie Dimon's stance
• 50:28
  on Bitcoin. Even though they're an
• 50:30
  authorized participant in the BlackRock ETF, they have very
• 50:34
  publicly been against Bitcoin. And Jamie Dimon is, I don't know
• 50:39
  if you want to say he's one of the, you know, the final, final
• 50:43
  beast or the final, you know, competition to bring down.
• 50:46
  But Jamie Dimon is very entrenched in the Fiat system.
• 50:50
  And so to me, it seems like he's looking at Tether as kind of
• 50:53
  competition, trying to flood the competition and be like, oh,
• 50:56
  they're going to get absolutely wrecked.
• 50:58
  They're going to have to sell their Bitcoin.
• 50:59
  But personally, and, and I know hot take from Opti being
• 51:02
  positive on Tether, this sounds like some fun to me.
• 51:05
  Nico, I'm I'm looking at this and I'm like, yeah, this, this,
• 51:09
  this sounds like JP Morgan is just kind of getting worried
• 51:12
  about the competition out there. I'm sure I'm sure tethers
• 51:14
  balance sheet is more profitable.
• 51:17
  Well, at least in in terms of the size of the company compared
• 51:21
  to JP Morgan, even though JP Morgan's one of the biggest
• 51:23
  companies in the world, obviously they make a ton of
• 51:24
  money. They are fully entrenched in the
• 51:26
  system. So I'm I'm kind of just seeing
• 51:28
  this as fun coming from JP Morgan.
• 51:30
  They're they're looking over at little Tether and they're like,
• 51:33
  how can we? Destroy these little guys.
• 51:35
  Because they seem to pick up on the game like again, the I think
• 51:39
  what, what is it? There's like very small people
• 51:42
  at the company and they're making like billions of dollars
• 51:46
  per person at the company there. I, I think you guys again, Fact
• 51:49
  Check me in the chat, but I'm pretty sure they are like the
• 51:52
  most profitable company in the world right now.
• 51:55
  And that is just incredible. They have, they have like like
• 51:58
  like 50 employees, bro. And yeah, 15 employees.
• 52:00
  They made like 9. It's billions.
• 52:05
  And billions of dollars, right? So yes, I think there there's a
• 52:08
  couple things that could be true, right, which is all of us
• 52:11
  Bitcoiners, we wanted Bitcoin adoption, developing world
• 52:15
  didn't happen developing world, the market wanted the dollar,
• 52:21
  the dollar was given to the developing world via tether.
• 52:25
  And this is very lucky for us. Thank God the Tether guys are
• 52:29
  Bitcoin Maxis themselves, right? So, you know, again, you guys
• 52:34
  have to look, this is a separation of money and state.
• 52:37
  We're not going to get all the wins all the times, but you guys
• 52:41
  have to get used to this idea of compromises.
• 52:45
  You guys have to value the small victories that you do get,
• 52:50
  right? Like with the election of Donald
• 52:52
  Trump, like we got the repeal of SAB 121.
• 52:55
  We got the end of Operation Choke .2 Point O Ross Ulbricht
• 52:59
  was freed. Like Ross Ulbricht was freed,
• 53:03
  but simultaneously it was a little bit of a debt let down
• 53:06
  with the executive orders. Simultaneously, we got the
• 53:10
  release of Melania coin and Trump coin, right?
• 53:13
  So like you guys have to get used to look, get the victories,
• 53:18
  get the win the battles. Because what I'm looking at is
• 53:23
  are we making progress? Is that Overton window shifting?
• 53:27
  Because what is the political end goal here?
• 53:29
  We all have to be very transparent.
• 53:31
  The political end goal of all Bitcoiners should be simple.
• 53:35
  And central banking. That's it.
• 53:38
  And central banking? Are we heading in that
• 53:41
  direction? Absolutely.
• 53:43
  We've made so much progress in the last six months, but
• 53:47
  expecting everything to go perfectly every single time is
• 53:52
  incredibly naive, right? This is the real world.
• 53:56
  And guys, this is like we're we're we're we're fighting for a
• 54:01
  completely different world, a world where money isn't issued
• 54:07
  by the state, money is issued by the people, right?
• 54:11
  This is what we're this is what we're fighting for.
• 54:13
  So we have to get used to and value the small wins, the big
• 54:19
  wins that we get and the losses, we have to take them.
• 54:22
  We have to take them on the chin and we just have to keep
• 54:25
  marching forward and we have to be adaptable.
• 54:28
  We have to acknowledge what the free market is telling us and
• 54:32
  adapt to that. Because if we take this like
• 54:35
  cult like, you know, nothing matters.
• 54:39
  Bitcoin like it, it's just like, I don't care.
• 54:42
  I, I think it's naive. I think it's not wise and it, it
• 54:46
  again also betrays free market principles, man, you have to be
• 54:50
  open to this right? So anyhow, bitcoins going to win
• 54:54
  all the other, you know, altcoins are, are going to lose.
• 54:59
  Bitcoin has superior incentives. And when I say altcoins, by the
• 55:02
  way, I'm putting the dollar in there too, right?
• 55:05
  The, the dollar is the ultimate the, the, the, the initial shit
• 55:11
  coin, right? The, the, the, IT what, what
• 55:14
  differentiates the dollar from XRP, right?
• 55:18
  What differentiates they could just print it out of thin air.
• 55:21
  They just created out of nothing, right?
• 55:24
  So anyhow, we're going to win this.
• 55:27
  We'll take it one day at a time, narrative trench warfare on the
• 55:30
  battlegrounds of the Internet for the hearts and minds of the
• 55:32
  people. And we're going to win this when
• 55:35
  everything is said and done anyways, guys, we're going to
• 55:37
  talk about the culture. We're going to talk about Joe
• 55:41
  Rogan, Adam Curry. Adam Curry was educating Joe
• 55:44
  Rogan on Bitcoin. It's so important.
• 55:47
  Talk about shifting the Overton window.
• 55:50
  This is how it happens. Joe Rogan, when are you going to
• 55:53
  have Michael Saylor on or Jack Mallard's?
• 55:56
  Like, why hasn't that happened yet?
• 55:57
  I mean, quite interested about that.
• 56:01
  Anyways, guys, we're going to hit the culture.
• 56:03
  We will be right back. I want to give a shout out to
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  our sponsor Hive Digital Technologies.
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• 57:44
  All right everybody, we are back.
• 57:47
  It's the culture segment smash the like button.
• 57:49
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• 57:50
  We got 232 likes. Help us break guys.
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• 58:15
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• 58:19
  Shout out to the 2500 of you guys watching live right now.
• 58:23
  Opti, I saw this. It was a pretty big deal.
• 58:26
  What's your take? Yeah, yeah, me, me too.
• 58:29
  But before I give my take, I, I just want to kind of play the
• 58:33
  clip. But for you guys that maybe
• 58:34
  don't know who Adam Curry is, he's we call him the pod father.
• 58:38
  He's been doing podcasts forever.
• 58:40
  He's very much been on the forefront of podcast independent
• 58:44
  content creation and and he's kind of a legend in in the
• 58:47
  Bitcoin space as well. And of course, the the podcast
• 58:50
  space in general. He came on Joe Rogan and Joe
• 58:54
  Rogan asked him, you know, pretty, pretty simple question.
• 58:58
  And I think there's a lot to unpack here after this clip.
• 59:01
  So let me just play the clip and then we'll chat about it.
• 59:04
  Speaking of scamming, what do you think about shit coins?
• 59:09
  Like what's what's your take on like Haktua coin and Melania
• 59:12
  coin? And those are more meme coins,
• 59:16
  shit coins, right? Isn't that what a meme coin is?
• 59:18
  Any. So the only coin I believe in is
• 59:21
  Bitcoin. We've talked.
• 59:22
  About this before. Right.
• 59:23
  In fact, I looked it up hoping you would bring it up two years
• 59:27
  ago when I was here the last time Bitcoin was around $40,000
• 59:30
  Today it's close to $100,000. This, this will continue to go
• 59:35
  up until we're long gone. It's very interest.
• 59:39
  So I don't believe in in shit coins at all because if you have
• 59:44
  Bitcoin has no CEO, there's no one in charge of it.
• 59:47
  It's literally 10s of thousands of people around the world who
• 59:50
  run these nodes that make it open and make it run and keep it
• 59:54
  at this 21 million coin. I'm totally down with Bitcoin.
• 59:58
  I'm with you. But I think the shit coin thing
• 1:00:02
  is fascinating that anybody can create a coin.
• 1:00:05
  Yeah. You know, like Jamie has a a
• 1:00:07
  pull it up Jamie coin. I don't know if you will, but
• 1:00:09
  you not. Make it.
• 1:00:11
  Don't put that on me. You do not said something now.
• 1:00:14
  I mean, now that you just said it, now that we just said it
• 1:00:16
  because we brought it up yesterday with the boneyard guy
• 1:00:18
  with John Reeves and we said you should have your own coin.
• 1:00:21
  Get it, the boneyard coin. And now apparently somebody made
• 1:00:24
  one. So this is you bring this up in
• 1:00:26
  context of scams because they are scams the way it works.
• 1:00:30
  So if if I wanted to make a quick, quick amount of money,
• 1:00:34
  I'd have a, a shit coin and have my bots ready and I'd say, hey,
• 1:00:38
  Joe, have you heard about my, my Curry coin?
• 1:00:41
  And you'd be like, no, wait. And it would come out and it
• 1:00:43
  would skyrocket. My bots would sell it.
• 1:00:45
  I would make a lot of money and it would be dumped right away.
• 1:00:47
  It's a scam over and over and over.
• 1:00:50
  What if you don't sell it? Yeah, then then you'll have
• 1:00:53
  empty bits worth nothing. But if you So it's only
• 1:00:57
  available for pump and dumps. That's what that's the only
• 1:01:00
  thing it's good for. It's.
• 1:01:01
  It's. Absolutely.
• 1:01:03
  Yep. OK, OK, love it, love it.
• 1:01:05
  OK, Nico, before you, before you ran, I do want to point out a
• 1:01:08
  few things and then and then we'll kind of discuss it.
• 1:01:10
  First thing was the framing of the question in the first part,
• 1:01:14
  which is something we talk about here constantly on the show, the
• 1:01:16
  fact that we always have to kind of separate Bitcoin from shit
• 1:01:19
  coins. And Joe Rogan again, guys, I
• 1:01:22
  know a lot of people have been saying or even Nico said it
• 1:01:24
  earlier, like why hasn't he brought on Sailor or Jack
• 1:01:26
  Mollers? Personally, I think Jack Mollers
• 1:01:27
  would be a better fit. But yeah, I think Jack Mollers
• 1:01:30
  would be a way better fit because sailors a little too,
• 1:01:33
  you know, autistic technical for Joe Rogan and we need Jack
• 1:01:36
  Mollers to go up there and and kill it.
• 1:01:38
  But anyways, for a lot of times, a lot of Bitcoiners have been
• 1:01:41
  wondering how come Joe Rogan isn't bringing on Bitcoiners?
• 1:01:44
  Is he a Bitcoiner? We know he's huddled, I think
• 1:01:46
  about 1/4 of a coin for a long time now.
• 1:01:49
  And just by hearing how he's having this conversation, you
• 1:01:52
  can tell that he understands the difference between Bitcoin and
• 1:01:54
  shit coins. And he even said when Adam Curry
• 1:01:57
  kind of did the whole like I only like Bitcoin bit, he's
• 1:02:00
  like, I'm totally with you on Bitcoin now.
• 1:02:02
  I didn't actually look up how many views it's got, but Joe
• 1:02:05
  Rogan's the biggest podcaster in the world, so biggest.
• 1:02:08
  Broadcaster, just biggest broadcaster.
• 1:02:10
  Just not even podcaster. He's just, he's literally the
• 1:02:13
  biggest show on earth. And so now, of course, hopefully
• 1:02:17
  a lot of his audience, the bro audience that watches Joe Rogan,
• 1:02:19
  hopefully they're starting to kind of go down the rabbit hole.
• 1:02:22
  Maybe this conversation will spark them going down the rabbit
• 1:02:25
  hole. And the second part again, how
• 1:02:27
  Joe Rogan kind of framed this is he understood, you know, he's
• 1:02:30
  even using the word shit coins. He understands that meme coin
• 1:02:33
  shit coins are all only for pub and dump.
• 1:02:35
  There's only, that's basically only designed to steal your
• 1:02:38
  Bitcoin from you. And so I thought there's a super
• 1:02:40
  interesting first and foremost, of course, like the fact he
• 1:02:43
  posed the question as you know, you, you were talking about
• 1:02:46
  scamming people. What about these shit coins?
• 1:02:47
  And we're just like, Yep, this is exactly the message we try to
• 1:02:50
  get across. He doubled down, agrees on
• 1:02:53
  Bitcoin. We know.
• 1:02:54
  I think we could safely say now that he is a bitcoiner, maybe.
• 1:02:57
  It's not like he's not obsessed with Bitcoin like we are,
• 1:03:00
  obviously. But he understands.
• 1:03:02
  He understands the difference. Yeah.
• 1:03:04
  You know the fact he's even joking about shit coins being
• 1:03:07
  scammed, pump and dumps. It just goes to show that the
• 1:03:10
  Bitcoin culture is starting to go mainstream.
• 1:03:13
  Like a lot of the memes and the conversations that bit corners
• 1:03:16
  have been having for a long time are finally happening on the
• 1:03:20
  mainstream. And now it's, it's not just some
• 1:03:22
  cringe stuff on the Internet. It's like the biggest
• 1:03:24
  broadcaster in the world is having this conversation.
• 1:03:27
  And I think this just goes to show that we are slowly but
• 1:03:30
  surely taking over the world and the Bitcoin message is going to
• 1:03:33
  go extremely mainstream. Obviously we have to get past
• 1:03:36
  this whole shit coin, meme coin stage.
• 1:03:38
  Like we have to separate. I don't think, I don't think
• 1:03:40
  it's any, I don't think it's anywhere any.
• 1:03:42
  It's never going to. Go away.
• 1:03:44
  No, I agree. I agree 100% with you.
• 1:03:46
  I don't think gambling is going to go away, but I'm just saying
• 1:03:49
  I think soon enough, the education level, people
• 1:03:51
  understanding that there is a fundamental difference between
• 1:03:54
  Bitcoin and shit coins. I think that needs to kind of
• 1:03:57
  like run its course in the popular culture.
• 1:04:00
  Because right now, I don't know if you guys are on, you know,
• 1:04:03
  other social medias are outside of the Bitcoin Twitter echo
• 1:04:06
  chamber, but meme coins are like an actual thing right now and
• 1:04:08
  people think they're going to get rich off meme coins And
• 1:04:11
  you're just like, man, like I feel so sorry for you that you
• 1:04:15
  are getting absolutely wrecked. But I thought this super
• 1:04:18
  interesting. This is what the culture is
• 1:04:19
  about. Like the Bitcoin culture is
• 1:04:21
  going, we have the biggest podcaster, biggest broadcaster
• 1:04:24
  in the world with the OG pod father talking about Bitcoin and
• 1:04:27
  he's talking about it in a way where, you know, he's
• 1:04:29
  understanding Bitcoin. So hey, to pose the last
• 1:04:33
  question, Nico, or the last conversation before you take, I
• 1:04:36
  think Jack Mahlers would be a way better fit on Joe Rogan than
• 1:04:39
  Sailor. I mean, let us know in the chat
• 1:04:41
  guys. If you think Sailor would be a
• 1:04:43
  better fit, put one in the live chat.
• 1:04:46
  If you think Jack Mahlers would be a better fit, put two in the
• 1:04:50
  live chat. Sailor 1, Jack Mahlers 2.
• 1:04:54
  Who would be a better fit to go on the Joe Rogan experience?
• 1:04:58
  Sailor put 1, Jack Mahlers put 2.
• 1:05:02
  Anyhow, yeah, but before we continue, I, I do want to give a
• 1:05:05
  chime in a little bit on the, the whole meme coin phenomenon
• 1:05:09
  that's happening. So you have to kind of go
• 1:05:12
  through the beginning of shit coins, right?
• 1:05:14
  Really started with like Etherium in the 20/16/2017 era,
• 1:05:20
  right? We went through a bunch of
• 1:05:26
  phases like Bitcoin is a dinosaur.
• 1:05:29
  Bitcoin has new utility. You need a token.
• 1:05:36
  You know you need like you know you need a, you need a token for
• 1:05:41
  file coin. You need a token for this.
• 1:05:43
  You need a token for that. It.
• 1:05:46
  This is like a, this is like a privacy coin that this coin does
• 1:05:50
  something different. But over time the, the like
• 1:05:55
  people started to realize that you don't really need coins or
• 1:05:59
  tokens for any of these projects.
• 1:06:01
  So like a lot of the layer 1, you know, tokens like Etherium
• 1:06:06
  or like whatever. Like people realize like there's
• 1:06:09
  not really any utility to this. Like people are just buying them
• 1:06:13
  because the number is going to go up and essentially meme coin
• 1:06:17
  is like the the last evolution or essentially the token
• 1:06:22
  creators themselves aren't even trying to sell you that the
• 1:06:26
  token has a utility because no one was buying Etherium or
• 1:06:31
  Solana for utility. People were buying Etherium and
• 1:06:35
  Solana because they wanted to get rich on them, right?
• 1:06:39
  The mean coin is the last evolution of shit coinery
• 1:06:43
  because it's basically saying like, look, like we're not even
• 1:06:46
  going to try to tell you or try to sell you that all these coins
• 1:06:50
  have utility. We're just going to straight up
• 1:06:52
  tell you like, look, you like Doge the meme?
• 1:06:56
  Well, we got a Dogecoin and it goes up right?
• 1:06:59
  It it's kind of like a very similar phenomenon to what
• 1:07:02
  happened with the whole GameStop thing, right?
• 1:07:04
  Like people were weren't buying GameStop because of the
• 1:07:07
  fundamentals of the business. They were buying GameStop
• 1:07:11
  because they had a lot of good memories when they were younger
• 1:07:14
  going to video game stores and getting the latest, greatest
• 1:07:17
  video games. And there's these hedge funds
• 1:07:19
  that essentially we're trying to short GameStop out of existence.
• 1:07:23
  And then the people riot rose up and said no, enough is enough.
• 1:07:26
  Roaring Kitty made a fortune out of this.
• 1:07:30
  That's what meme coins are. They're the last evolution of
• 1:07:33
  shit coinery. And I actually have a lot more
• 1:07:36
  respect for the meme coins than I do for the layer ones and the
• 1:07:41
  layer twos like Cardano and Etherium and whatever.
• 1:07:44
  All that, I don't even know. There's so many XRP that are
• 1:07:47
  pretending to be something in addition to Bitcoin, like we're
• 1:07:53
  not money. We, we, we have a, you know,
• 1:07:56
  smart contract functionality and we, you know, we're going to be
• 1:07:59
  the settlement player for banks. The, the, the settlement layer
• 1:08:02
  for bank. No, you're not.
• 1:08:04
  That's bullshit. All you want is for people to
• 1:08:07
  pump your bags and the vast majority of Cardano holders of
• 1:08:10
  Ethereum, holders of XRP holders, they don't give a
• 1:08:16
  flying F about the the the technology underneath them.
• 1:08:19
  What they care? About is are these are these,
• 1:08:22
  you know, coins going to pump and meme coins is the final
• 1:08:25
  evolution because they're literally straight up telling
• 1:08:28
  you like there there is no fundamentally there is no
• 1:08:32
  fundamental technology. We just want the coins to pump,
• 1:08:35
  right? That's what it's all about.
• 1:08:37
  So, you know, at least meme coins wear it on their chest
• 1:08:40
  versus a lot of these shit coins.
• 1:08:42
  They try to obfuscate it behind supposed utility.
• 1:08:46
  So yeah, man, I mean, I think they're always going to be
• 1:08:49
  around. I think there's like 11 a
• 1:08:51
  million of them now. And you know, they're all pump
• 1:08:55
  and dumps. They they, they've always been
• 1:08:58
  pump and dumps. And maybe not in dollar terms,
• 1:09:02
  but in Bitcoin terms, 1,000,000%.
• 1:09:07
  If you look at every altcoin and you compare its valuation to
• 1:09:12
  Bitcoin, they're all on a downward trend.
• 1:09:16
  Every single one of them. Maybe some have made all time
• 1:09:20
  highs in dollar terms, but in Bitcoin terms it's always down,
• 1:09:26
  right? Everything loses value towards
• 1:09:29
  Bitcoin. That's what you guys have to
• 1:09:30
  fundamentally understand. Make your unit of account, make
• 1:09:34
  your net worth in Bitcoin, don't make it in dollars, right?
• 1:09:38
  And then you're going to start looking at the world totally
• 1:09:40
  different. You're going to look at
• 1:09:41
  investments totally different. You're going to look at real
• 1:09:43
  estate totally different because everything loses value towards
• 1:09:47
  Bitcoin and it's absolute scarcity of 21 million and the
• 1:09:52
  inability for anyone to manipulate and change the rules
• 1:09:56
  of Bitcoin to benefit themselves.
• 1:09:59
  And that's in stark contrast with every other altcoin,
• 1:10:03
  including the dollar. They can inflate it into
• 1:10:06
  Infinity. They can change the rules to
• 1:10:08
  benefit themselves. Bitcoin is only the true sound
• 1:10:12
  money. Also I kind of dropped a joke
• 1:10:15
  when Opti was playing the Curry and a joke clip about optic
• 1:10:22
  coin. No it's simply Bitcoin is a
• 1:10:25
  Bitcoin maxi show. We only support Bitcoin, we only
• 1:10:28
  talk about Bitcoin. So if there's any D Gen. out
• 1:10:31
  there that makes an optic coin. It is not coming from me.
• 1:10:35
  It's not if you can. Hear me, I did not create a.
• 1:10:38
  Bitcoin that does not come from us.
• 1:10:41
  We are. We are 100% Bitcoin only focus
• 1:10:45
  show and we will always be a 100% Bitcoin only focus show
• 1:10:51
  hanging anyways, man, I really I really enjoyed the Friday
• 1:10:54
  episode dude and the audience did as well.
• 1:10:57
  We appreciate we appreciate all the love from you guys.
• 1:10:59
  I got. Thank you so much thing.
• 1:11:01
  I got one last thing while you were talking, I was thinking of,
• 1:11:06
  you know, if you've been in Bitcoin for a long time, you've
• 1:11:09
  heard it from the shit coin space that you know, whatever
• 1:11:12
  flavor of the day is going to really it's going to flip
• 1:11:15
  Bitcoin in price. And I was thinking why you are
• 1:11:17
  running that down, that the real flippinning now is the amount of
• 1:11:21
  shit coins that have been created will surpass 21 million.
• 1:11:25
  So that's going to be the real flippinning we've ever seen. 21
• 1:11:29
  million hard cap, now we're at what, 11.35 million shit coins?
• 1:11:33
  The real flippinning is when the amount of shit coins created
• 1:11:37
  passes 21 million. That is coming soon.
• 1:11:41
  Absolutely. People are saying my sound is
• 1:11:43
  off. Do you?
• 1:11:43
  Do you hear? I'm hearing you.
• 1:11:44
  Let me see. That's weird.
• 1:11:51
  Anyhow, people are saying my sound is off.
• 1:11:56
  I'm hearing you. OK, well people are saying no
• 1:12:00
  sound. Could you wrap up the show?
• 1:12:02
  Hey, all right well, hopefully you can hear me.
• 1:12:06
  We'll see what happens. I'm hearing Nico on the on the
• 1:12:08
  on my end here, but guys, let's actually let's just do this.
• 1:12:13
  Let's boot him let's just boot him from the show.
• 1:12:15
  All right, guys, it's finally my show.
• 1:12:17
  No, I'm just thank you guys. We love you guys.
• 1:12:21
  We appreciate you guys. It's have a good weekend.
• 1:12:24
  It's Friday actually, it's Valentine's Day.
• 1:12:26
  So I know you guys don't have girlfriends, but if you did have
• 1:12:29
  a girlfriend, maybe take her out to a nice dinner.
• 1:12:31
  I know you got to drop some sats for that.
• 1:12:33
  But hey, it's all about building the relationships and continuing
• 1:12:37
  the relationship. So we love you guys.
• 1:12:39
  We will see you Monday. We'll be back for our normal
• 1:12:41
  show Monday through Friday, roughly around 12:15 PM every
• 1:12:46
  single day. On that note, I'm Opti.
• 1:12:49
  That was my boy Nico, and we are simply Bitcoin.
• 1:12:52
  So we will see you on the flip side, Have a good rest of your
• 1:12:57
  day. Peace out.
• 1:12:59
  Today's episode was brought to you by bitcoinwell.com, a
• 1:13:02
  Bitcoin only platform on a mission to enable financial
• 1:13:05
  independence.