Latest / Simply Bitcoin / Gary Gensler ADMITS there Should be a Bitcoin Spot ETF | EP 856

Transcript

Gary Gensler ADMITS there Should be a Bitcoin Spot ETF | EP 856 · Simply Bitcoin

0:07
It's all going to zero against Bitcoin.
0:10
It's going on forever. You're against Bitcoin.
0:20
You're against freedom. Yeah, welcome to another episode
0:25
of Simply Bitcoin Live or your number one source for the
0:27
peaceful Bitcoin revolution. Breaking news culture, Matic
0:29
Warfare. We will be your guide through
0:30
the separation of money and state.
0:32
Speaking of the separation of money and state, there is
0:35
literally a video Gary Genzer caught in 4K basically saying
0:40
it's kind of weird how there's a futures ETF, but there isn't a
0:45
spot Bitcoin ETF. Strange, right?
0:50
Like why the change in tune? Why the change in tune And the
0:55
case that we've been making for you guys over the last couple of
0:58
months is that we believe that this is politically motivated.
1:03
There is a we played you guys a video last week on Simply
1:08
Bitcoin Live of an SEC commissioner herself saying I
1:12
have no idea why this thing's why this thing hasn't been
1:14
approved. And then if you if if you just
1:18
analyze it from those single data points maybe?
1:22
You'd say, OK, there's nothing there.
1:24
But if you connect it with Operation Choke .2 point O.
1:29
If you connect it with Caitlin Long's bank Custodia bank being
1:33
denied a federal banking charter to make her competitor
1:37
competitive with other banks around the United States.
1:39
If you connect it with the SIOP campaign that happened last week
1:47
where Elizabeth Warren and Co. Try to circumvent the
1:51
legislative process, going straight to the Treasury so that
1:57
the Treasury would implement these broad regulations on the
2:03
industry. It was so broad to the point
2:06
that because they try to say, oh, this is we're going after
2:09
coin mixing, coin mixing is bad. But when you actually look at
2:14
the document and Shinobi did a great job breaking this down on
2:17
Bitcoin Magazine. Like it was so broad that single
2:21
use addresses were targeted. That is by default how Bitcoin
2:26
works. If you have a if you have a
2:28
Bitcoin wallet, if it's a good one, it will give you a new
2:31
address every time. So like it was clearly a SIOP
2:38
attack on Bitcoin. Social media played to our favor
2:42
because we were able to react very quickly and what happened
2:47
over the weekend. Was that the Wall Street Journal
2:51
actually retracted. There's so much pressure.
2:55
They actually retracted it was a it was 1/2 assed retraction, but
2:59
they did retract it. They did retract the article.
3:02
They admitted that they made mistakes.
3:05
So couple things that that's showing here.
3:09
I do believe that the ETF has not been approved for political
3:12
reasons at this point. If Gary Genzer himself is
3:15
questioning why. Is there a futures ETF and there
3:18
isn't a spot ETF? The other thing is, it's a
3:22
example of how much your voice matters.
3:27
It's an example of the fact that your memes, your likes, the fact
3:31
that you're sharing videos, the fact that you're sharing press
3:34
and Pitch's article. That all counts.
3:37
It all makes a difference. And I was worried in the
3:41
beginning of last week, but when I realized we had won.
3:45
Was when Congress people themselves and the and the
3:48
banking Senate committee were literally calling out the BS and
3:52
I realized, OK, we we mounted, we we put up so much pressure
3:59
that they folded that their lies were exposed or
4:03
misrepresentations were exposed. Thank God for the Internet for
4:08
us to be able to do this. Because if it wasn't for social
4:11
media, if it wasn't for the Internet.
4:13
We would have been toast. That's just the reality of it.
4:16
So crazy, crazy stuff. But it also makes me extremely
4:22
optimistic. Speaking of optimism, how you
4:25
doing, Opti? Because what's up, man?
4:28
Because we won this one. We won this battle.
4:32
And I I tweeted this out. I think I was on Friday or
4:35
Thursday. They're gonna, they're they're
4:37
not gonna try to do this again. They're not going to try to use
4:41
the legacy media the way that they used it before because they
4:44
would have been able to get away with this before social media
4:48
existed. But after social media, when
4:51
people have a have a have a platform or an ability to clap
4:55
back and to be like, hey, like what you're saying is BS.
4:59
It's very difficult for them to control a narrative.
5:01
And I think that's really what we saw last week.
5:06
And then it coincides with the theory that I've been talking
5:08
about for many months now, which is we're not only living through
5:12
the disintermediation of money and state, we're also living
5:15
through the disintermediation of money.
5:17
I mean, of information, right? Anyways, Abdi, how you doing?
5:22
Doing good. I'm good, no?
5:23
Smiles. No smiles.
5:25
What's going on? I'm just, I'm, I'm, I'm watching
5:28
the chats and stuff over here. Your boy's working over here.
5:31
I want to disagree with you, Nico, I I I think that we will
5:34
see more attempts of this nature.
5:37
I I I'm convinced that this will not stop.
5:41
Obviously we didn't make enough noise and we have yet to make
5:46
enough noise. And I just, I I don't think
5:49
those those gaslighting attempts will stop with just this one
5:54
news story. I think they just got caught and
5:57
they had to make some kind of statement retracting it anyways.
6:01
Anyways, totally other topic guys, before I forget I want to
6:04
say this right now before I I keep forgetting to say this.
6:07
We're going to do a giveaway AT21K on our YouTube channel so
6:12
we have prizes from from our sponsor.
6:14
We're going to give you guys some gifts.
6:16
So like subscribe to our YouTube, our Twitter account,
6:22
and I still have to get all the rules, but we're about to hit
6:25
that 21 K and I and I want to, I want to get it out there so that
6:28
you guys know we're going to give you guys some stuff.
6:30
We're going to give back to you guys.
6:32
And the mega big prize guys is going to be a gift for a special
6:38
special gift to everyone that hangs out in the chat.
6:40
So I am writing down names and I'm checking it twice.
6:44
I think the mega big prize is going to go to you guys in the
6:47
chat that are always with us every single day.
6:49
We want to, we want to, you know make it special for you guys so
6:52
give you guys more reason to hang out with us in the YouTube
6:55
chat. We will be giving more giveaways
6:57
moving forward. But for everyone else if you
7:00
can't make it to the live show, we will be doing some giveaways
7:02
and and you guys will, will we'll get in touch with you.
7:05
I think we're, I don't know, maybe like a week away or
7:07
something, maybe a little longer, maybe less, I don't
7:09
know. But at 21 K we're going to do a
7:12
giveaway. So, you know, good luck.
7:16
Good luck and also shout out to DAF because we did give away, we
7:19
did a SAT giveaway over the weekend to celebrate Halloween
7:23
or before Halloween. So yeah, we're going to be doing
7:26
many more giveaways on this channel to kind of you know, to
7:29
give back to you guys for for supporting us and keep keeping
7:32
us on air. The the main gift I think is a
7:35
badass gift. So I'm really looking forward to
7:38
that and some merch as well. So some simply Bitcoin merch.
7:42
Anyways, it's going to be a great show.
7:43
Let's start Monday off strong. Let's let's do this the.
7:49
Bitcoin numbers Is your Bitcoin in cold storage really secure?
7:53
Is your seed phrase really secure?
7:56
Stamp seeds? Do it yourself.
7:58
Kit has everything you need to hammer your seed words into
8:01
commercial grade titanium plates instead of just writing them on
8:06
paper. Don't store your generational
8:08
wealth on paper. Papers prone to water damage.
8:12
Fire damage. You want to put your
8:14
generational wealth on one of the strongest metals on planet
8:17
earth, Titanium. Your words are actually stamped
8:20
into this metal plate with this hammer and these letter stamps.
8:23
And once your words are in, they aren't going anywhere.
8:26
No risk of the plate breaking apart and pieces falling
8:29
everywhere. Titanium stamp seeds will
8:32
survive nearly triple the heat produced by a house fire.
8:35
They're also crush proof, waterproof, non corrosive, and
8:38
time proof. All things that paper is.
8:40
Not allowing you to huddle your Bitcoin with Peace of Mind for
8:44
the long haul. Stamp your seed on stamp seed.
8:48
All right guys, I literally made it super easy for you guys.
8:50
You could scan the QR code on your screen.
8:52
It will take you directly to the stamp seed website.
8:54
You can use promo code simply. To get a 15% discount, don't
8:58
store your generational wealth on paper, store it on one of the
9:02
strongest metals on planet earth, Titanium.
9:05
At the time of recording the Bitcoin price is 34,535 SATS per
9:10
dollar. 2896 block height 814,548 blocks to having 25,452
9:21
having estimate April 21st, 2024.
9:24
Total Lightning network capacity 5269 Bitcoin capacity value 182
9:32
million U.S. dollars Realized Monetary inflation 1.74% The
9:38
total market cap of Bitcoin $674 billion Bitcoin verse gold
9:44
market cap 5.04% in the In the grand scheme of things, Bitcoin
9:50
is still a baby anyways. This is a really interesting
9:55
conversation that I thought you guys would value.
9:58
It's from Bloomberg and Michael Saylor's quotes.
10:01
He's he's quoting someone called Alexis Ohanian and and the quote
10:09
is one thing I am certain of is we're not, we're never going to
10:12
find a bunch of new Bitcoin on an asteroid.
10:16
I'm going to go back to one of my favorite stats on this right,
10:20
which is the Bitcoin versus gold market cap of gold, right?
10:23
The average inflation rate of gold is around 2% every year.
10:28
We don't know how much gold there is in the ground.
10:32
We know that there's asteroids that contain so much gold that's
10:36
in the trillions, right? So it isn't that it has absolute
10:42
scarcity, it's that it's difficult enough where it has
10:45
some type of scarcity difficult enough to get right.
10:50
But the thing with Bitcoin? It is that it has absolute
10:54
scarcity and the supply being dumped on the market every four
10:59
years gets cut in half due to the halving.
11:04
So Bitcoin has absolute scarcity.
11:09
And as humanity, we've never had a commodity or an asset that has
11:15
had those types of qualities. And it really sets it apart from
11:19
the rest. And I think that's what Michael
11:20
Saylor was trying to emphasize here.
11:23
With this video. Anyways, let's play it and then
11:26
we'll talk about it and talk about Bitcoin, You know,
11:28
Bitcoin. Interesting.
11:30
OK well, I'll be back. You know, explain that that
11:34
answer to me. I say it glibly.
11:36
I mean, I I look, I have, as you you referenced, I seeded
11:41
Coinbase in 2012. So I have been in crypto for
11:44
over a decade. I have invested through every
11:46
single winter and none of them fazed me.
11:49
They're all healthy because they sort of clear out the tourists
11:52
and the grifters in in every sector in every industry and and
11:57
I think here we're seeing a response to my guess, a a sort
12:01
of broader macro and global uncertainty.
12:04
And what's wild is I know for for some viewers it may seem a
12:08
little surprising that people would find safety in a volatile
12:11
cryptocurrency like Bitcoin. But the fact that it is truly
12:16
decentralized and and the fact that it is backed by conviction,
12:20
you know, to me, Bitcoin has never felt really all that
12:23
different from gold. You know, if you explain to me
12:27
that gold was really important part of human culture, I'd
12:29
understand it. As an Armenian I, I know I, I,
12:32
for whatever reason just love, love, gold.
12:34
We have, we have a cultural affinity for this shiny piece of
12:37
metal, the shiny rock. And and it's been built over
12:41
years and years and years and there are plenty of investors
12:43
who won't touch it because they feel like it's not a a great
12:45
asset. But there's a whole heck of a
12:47
lot of people who have a strong cultural affinity for it.
12:49
And I think Bitcoin is in a similar camp.
12:52
Maybe it's a different generation, maybe it's more sort
12:54
of technology oriented folks. But at the end of the day, you
12:57
know, I'm here, I'm investing in asteroid mining companies, and
13:01
one thing I'm certain of is we're never going to find a
13:03
bunch of new Bitcoin on an asteroid.
13:06
Dude, I mean. Like it.
13:09
It sounds so ludicrous and it sounds so crazy, but I mean, I
13:13
think he hit the nail on the head like it, it doesn't matter,
13:16
you know, you're never going to find more Bitcoin.
13:19
There's always ever going to, there's there will only ever be
13:22
21 million and there's a a, you know about whether it's like a
13:27
million or two. Some people say it's up to four,
13:29
but there's a couple million that are even lost.
13:31
So it's actually less, a lot less than 21 million.
13:34
And I hear stories all the time of, like, people losing
13:37
thousands of dollars in an old, you know, SD drive or a hard
13:40
drive and whatever. And, you know, there's a part of
13:43
me that's like, yeah, that sucks for that person.
13:46
Like absolutely, 100%, like, holy cow.
13:49
But the reality is, I think one of Satoshi even had a quote
13:53
regarding this topic. Lost coins are just a small
13:56
donation to everybody else, right?
13:59
So yeah, I think, I think he this person hit the Alexis hit
14:03
the nail on the head. Clearly, he's been in the
14:06
industry a long time. You know, the fact that, you
14:09
know Michael Saylor, who you could say is the leader of the
14:12
Bitcoin movement on the public company front, you know, I think
14:16
he retweeted it. You know, he retweeted this
14:19
video or he clipped this video for a particular reason.
14:23
So I think this video speaks volumes.
14:25
I think it highlights bitcoin's absolute scarcity.
14:27
And then my question to you guys is a very simple one like.
14:33
Do you like, do you think that Bitcoin is not going to pass the
14:36
market cap of gold like that? This is a question like look at
14:39
the qualities between the both of them.
14:42
I think it will. It's not a question of if.
14:44
I think it's a question of when and when it does that.
14:47
You're looking at 567 K per coin.
14:53
Last time I did the math, 567,000 per coin, right?
14:58
That's not too shabby. So I think in the grand scheme
15:01
of things. Bitcoin is better than gold.
15:04
I think it's going to dwarf the market cap of gold when
15:06
everything is said and done and I think we're just really,
15:10
really in the first innings man. And I am so excited for this
15:13
next cycle bro. Like we we, we went through pain
15:16
and suffering the last couple of years.
15:19
But if you've held through and if you've just stayed humble,
15:22
stacked SAT, stayed solvent, you're really setting yourself
15:25
up to to win in these next couple of years.
15:28
So anyways, Opti, what's your take on all this?
15:31
Yeah, well first and foremost shouts out to J Dub in the chat
15:35
because we both have a cultural affinity as well to gold.
15:39
But I just like it. It makes me feel good when I
15:41
wear it. But we live in a digital world
15:44
and gold is not going to be the the hard money in the digital
15:47
world. And I think there was something
15:49
that he said that that I think is I also agree with there is
15:54
something about Bitcoin that for us being you know basically
15:58
Internet natives, we grew up with the Internet.
16:00
We we understand technology. It just it it seems like second
16:04
nature to us especially as a bitcoiner Now like I can't think
16:08
of a a world where I won't be saving in Bitcoin.
16:11
And you know like as much as I like gold, I I'm not going to be
16:15
stacking kilos of gold. I I just think Bitcoin is a
16:18
better technology. It's a 10X improvement on money.
16:22
It is digital money for the digital world.
16:24
So I I too see that the market for Bitcoin is is slowly but
16:30
surely increasing and we're seeing so much attention in
16:34
regards to Bitcoin. And I think that's going to even
16:36
explode like this last year. Niko, I swear maybe maybe this
16:40
is confirmation bias, but it feels like Bitcoin has been
16:43
talked about more and more in all of corporate media and
16:47
around the world. And and I really do believe that
16:49
most people have heard about Bitcoin, even when I'm talking
16:52
with friends or people that I, you know, acquaintances that I
16:55
just met. If you bring up Bitcoin,
16:57
everyone has an opinion on Bitcoin.
16:59
So it's just, it's just showing that the attention and the
17:02
cultural awareness of Bitcoin has increased and moving forward
17:07
as the price starts to hit this six figure range that we've all
17:10
been kind of watching, I think that is going to increase and go
17:14
up even more. And as this phenomenon plays
17:18
out, more and more people are going to wake up and want to
17:22
unsub Bitcoin. Actually it's kind of going to
17:25
touch into what I'm going to talk about in the culture today
17:28
about how important the Bitcoin price really is.
17:30
I know we always talk about like we're here for the revolution.
17:33
You know, like we we kind of try to downplay price speculation
17:37
because we don't know where it's going.
17:38
But we do know that price is going up forever and forever,
17:42
Laura. And it just, it just goes to
17:44
show that we shouldn't be ashamed of acknowledging that
17:47
the Bitcoin price is important because more and more people are
17:50
going to look to Bitcoin as the price increases.
17:54
Yes, you know we're we're starting to see that maybe the
17:57
average person is being priced out of owning a whole coin now.
18:00
But hey, as we move forward and as this Bitcoin movement
18:04
continues to spread, the price going up just shows that shows
18:09
to the market that Bitcoin as a technology is getting adopted.
18:14
So I think in this next bull run we're going to see that these
18:19
conversations are going to be looked at as just like it's
18:22
going to be looked at as like Paul Krugman talking about the
18:24
facts. You know, it's going to be damn
18:27
near and like inevitable when it's not inevitable.
18:29
But you know the the meme. Like 2020.
18:32
What's it 2020? Hindsight is 2020.
18:35
And I think moving forward, people are going to also
18:38
understand what we understand. And This is why we have that
18:40
asymmetric knowledge. As bitcoiners, we're we're still
18:43
early in regards to adoption levels on Bitcoin.
18:47
Yes, Bitcoin's been around for 14 years going on 15 and the
18:50
Bitcoin price is what we're at like 35 K right now.
18:53
And so you know, I, I know Nico and I kind of argue whether
18:57
we're going to be seeing diminishing returns or if we're
18:59
going to see S curve adoption. And this is only begun shots at
19:02
the CKI think it's very obvious to anyone that still talks with
19:08
normal people that most people still think we're the crazy
19:11
ones, that most people still don't understand Bitcoin, that
19:14
most people don't have a significant allocation to
19:17
Bitcoin yet. And I really do believe that
19:20
Bitcoin is the asset for the everyday layman.
19:23
Yes, there is a technological curve.
19:25
Yes, there is kind of a mental curve that you have to get over
19:29
to understand Bitcoin, but it is the most accessible asset to
19:34
every single person in the world, and this is only begun in
19:38
my opinion. So I agree.
19:40
I think once Bitcoin does beat the gold market cap, it's going
19:44
to be very obvious that, Oh yeah, everyone should be owning
19:47
some Bitcoin. And you know, I'll still be
19:49
wearing gold just 'cause it makes me feel good, you know,
19:51
the whole, like, resonance, the residencies of of a gold.
19:54
It just, hey, it's I have in a culture affinity to gold as
19:57
well. And I and I jokingly say, and
19:59
I'm kind of serious when I say it, but it's also kind of a
20:01
troll that once gold gets demonetized, I'm going to have
20:04
it everywhere I can. It's my I'm going to have a
20:07
gaudy, gaudy house full of gold. Just because oh man, oh man, oh
20:11
man, I. I kind of won't, but I kind of
20:13
will. I don't know, maybe.
20:14
Maybe Opti Unleashed? Anyways, I want to give a shout
20:18
out to everyone watching the show.
20:20
If you're enjoying the content, it really helps if you smash the
20:23
like button. If you like to tweet on video,
20:25
If you're watching on on Twitter, shout out to a Rumble
20:28
audience which continues to grow.
20:30
Shout out to all you guys. If you can't find us on on
20:32
YouTube for whatever reason make sure to subscribe to our rumble
20:36
that that and then the live chat is popping off there.
20:38
Opti, I think you're going to have to rumble chat open as
20:42
well. So oh man but but yeah shout out
20:46
to all you guys. Like I said please smash that
20:48
like button. Help us break the hundred
20:51
hundred likes within the first hour.
20:53
Within the first hour. It really helps with with the
20:56
YouTube algos and all the other algos.
20:58
Anyways everybody let's move on to the news.
21:01
We got a lot to talk about, but before we do that, I wanna give
21:04
a very special shout out to our sponsor, Bitcoin 2024.
21:09
It's gonna be the largest Bitcoin conference on planet
21:12
Earth. It's going to be in Nashville,
21:15
TN this year. You can use the promo code
21:18
simply to get 10% off your tickets.
21:21
It's going to be July 25th through the 27th, the year of
21:25
the having Bitcoin 2024. For a GA ticket, you can get it
21:28
for 349. For an industry pass, you can
21:31
get it for 8:49. For a Whale Pass, you can get it
21:33
for 4749. The Will Pass gives you access
21:37
to the Deep Backstage VIP Lounge.
21:40
I met Tulsi Gabbard last year in the Deep.
21:41
It was freaking awesome. The Industry Pass gives you
21:44
access to Industry Day. If you're trying to get a job in
21:46
the industry, I highly recommend that one.
21:48
And of course, the GA Pass. You could use promo code simply
21:52
like I said, and you'll get a 10% discount on the already
21:55
discounted tickets to Bitcoin 2024 and Nashville, TN July 25th
22:01
through the 27th. All right, everybody, let's get,
22:03
let's hit the news. The Daily News I want to give a
22:10
shout out to our sponsor, Foundation Devices.
22:14
It's self custody done right. They built a premium grade
22:17
hardware wallet called Passport right here in the US.
22:20
It's fully open source and verifiable.
22:23
It's the most intuitive Bitcoin wallet designed with the UX,
22:26
reminiscent of a simple feature phone so you will know how to
22:30
navigate it and use it the moment you pick it up.
22:33
Get your Bitcoin off exchanges and into your into your own
22:36
hands in just a few minutes. Experience the Peace of Mind
22:39
that comes with taking ownership of your own keys.
22:42
After a massive sell out during Bitcoin Miami 2023, the passport
22:46
is back in stock at foundationdevices.com.
22:49
Bitcoin only, open source. Verifiable completely.
22:53
Air gap security model, Gorgeous design, craft premium grade
22:56
materials. If you're thinking about getting
22:58
your Bitcoin off exchange changes, this is the one for
23:01
you. Check out the passport link in
23:03
the show notes below to learn more.
23:06
All right guys, I made it super easy for you guys.
23:08
You could scan the QR code on the right side of your screen.
23:11
It will take you directly to the Foundation Devices website where
23:15
you can get yourself a Passport hardware wallet.
23:17
Remember guys, not your keys, not your Bitcoin.
23:20
It's never been as important as it is today to take self custody
23:25
of your Bitcoin, and the passport hardware wallet makes
23:28
it incredibly easy to do just that.
23:31
All right guys, we covered this last week and I wanted to go
23:34
through the series of events and what it culminated in.
23:38
I think we really won this one. I originally said Elizabeth
23:41
Warren stirred up the hornet's nest when I saw the videos
23:44
coming out of the Banking Senate Committee.
23:48
Here's Pierre Rashard. He reached out very similar
23:51
conclusion. Elizabeth Warren spread
23:53
disinformation to exploit a crisis.
23:55
It's backfiring and now undermines her misguided anti
23:58
Bitcoin agenda. Niraj, who is part of Coin
24:03
Center lobbying arm in Washington DC representing the
24:06
industry, says watching the Senate Banking carry on Hamas
24:10
financing. I must say it is refreshing to
24:12
see a panel of expert witnesses repeatedly fact checked.
24:15
Senator Warren now a day after that.
24:19
And again, guys, it's not a coincidence.
24:21
The timing, right? A a day after the Wall Street
24:25
Journal walked it back right, it was clear from throughout the
24:29
week that they were wrong, right?
24:32
But the fact that they retracted in a way, they offered a
24:35
correction. Again, they offer corrections.
24:38
But the original article in the old world before social media,
24:43
it would have done its damage, right.
24:46
So this is, you know, like I said, like we won this one and
24:53
it's because we put up enough pressure.
24:55
Here are the corrections that they had, the corrections and
24:57
amplifications. Now in my opinion, it's half
25:00
assed. But again, part of the Fin Cen's
25:04
proposal relied a lot upon the original Wall Street Journal
25:11
article. So they're going to have a hard
25:13
time now because now the Wall Street Journal has admitted
25:16
basically we kind of got a lot of these numbers wrong.
25:19
So it goes on to say Palestinian Islamic Jihad and Hezbollah may
25:22
have exchanged up to 12 million in crypto since 2021, according
25:27
to crypto research firm Elliptic.
25:29
An earlier version of this article incorrectly said PIG had
25:33
sent more than 12 million in crypto to Hezbollah since 2021.
25:38
This article was also updated to include additional context about
25:41
Elliptics Research. The firm's analysis of digital
25:45
currency wallets that Israeli authorities linked to PIG found
25:48
that PIG may have used crypto to receive funds and to move funds
25:52
to other terrorist groups. Elliptic said it isn't clear if
25:56
all the transactions it identified directly involved PIG
25:59
because some of the wallets PIJPIJ because some of the
26:04
wallets belong to crypto brokers that may have also served non
26:08
PIJ clients. Now the reason I'm saying it's
26:11
half assed is because Elliptic released a press release and
26:15
they literally said they took this completely out of context
26:18
and their research was wrong. So this is kind of Wall Street
26:22
Journal's attempt to saving their own behind a little bit,
26:26
but it's a very half assed excuse.
26:28
It's a very half assed like, you know, apology and correction and
26:33
all this and that. But it reaches, you know, it, it
26:36
made me come to this conclusion. And this is something the book
26:39
the sovereign individual has has talked about.
26:41
You're going to see the rise of information technologies and
26:45
that's going to empower individuals to not only pick and
26:47
choose what money they want to use, but also pick and choose
26:51
what information they choose to consume, right?
26:55
And what I tweeted says they will think twice before using
26:58
legacy media to try to attack Bitcoin.
27:01
Now in the age of social media, the old tricks don't work
27:06
anymore, and I completely agree. I think that the they're going
27:11
to be a little bit more skittish this time just because they're
27:17
remember guys. You have to look in the past
27:19
sometimes, right? They did this thing back in the
27:24
2000s. We talked a lot about.
27:26
We talked, we exhausted the topic last week.
27:29
But in case you weren't tuned in, in the early 2000s, they
27:32
used the New York Times to basically release an article
27:36
saying that Iraq had weapons of mass destruction.
27:38
They used that as a justification to invade Iraq.
27:42
Right back then. There wasn't any social media
27:45
back then. You had to go through the
27:48
gatekeepers in order to release a counter narrative.
27:52
That was very time consuming. What if the gatekeepers were
27:54
bought and paid for? The fact that we reacted so
27:58
quickly is because of social media.
28:02
So I agree with Opti. I think that they might try this
28:04
again, but you're seeing how their rhetoric and how their
28:09
attacks are having less and less and less of an effect.
28:12
The legacy media is losing all the limit legitimacy that it's
28:17
built up over the decades and decades and decades that they've
28:20
been around. So yeah, this is a huge hit to
28:25
the Wall Street Journal's credibility.
28:27
This is a huge hit to Elizabeth Warren's anti Bitcoin stance
28:30
that was based on lies and misrepresentations.
28:33
And remember you have to connect the dots with other things.
28:36
Remember what Christine Lagarde said right where she released a
28:40
video saying the CBDC is coming and she got community noted.
28:46
This is the Internet. This is what the Internet allows
28:49
you to do. It empowers you, the individual,
28:53
and you can build up your own platform and your own following
28:56
just as big as these legacy media institutions.
28:59
The only difference between you and them is that you're not
29:03
bought and paid for by special interest.
29:07
So it's like a competition of the truth.
29:09
That's why they want to censor you.
29:11
So we had a huge victory, huge, huge victory last week.
29:16
And this kind of correlates a little bit with what I was
29:19
saying about the rise of social media because of social media,
29:22
these types of these types of of these types of videos from the
29:31
past, right? You know, we, we see politicians
29:34
getting caught out, flat out lying.
29:37
Think about it for a SEC. They grew up in an era where
29:41
there was a bunch of TV stations and there was a bunch of legacy
29:45
news articles. There wasn't people covering
29:47
news in real time on Twitter like all those news aggregator
29:51
accounts. But here is Gary Genzer caught
29:56
in 4K. The way that Zach Valel phrased
29:59
it is Gary Genzer says Gary Genzer's wrong.
30:03
What made him change tune What what?
30:07
What is the difference between the spot Bitcoin ETF back in the
30:10
day and the spot Bitcoin ETF now?
30:14
Let's hear what he has to say and then we'll break it down.
30:17
Bitcoin futures and I think Ethereum futures and so forth
30:20
will exist and Bitcoin ETFs have not.
30:24
And that that feels a little inconsistent to me as an
30:27
observer, and I'm now, you know, in academia.
30:30
But it seems it feels a little inconsistent even though the
30:32
laws aren't exactly the same, they're quite similar.
30:35
Bitcoin. So maybe it's because he was in
30:39
academia and he was in a position of power, right?
30:43
But he's saying it's inconsistent.
30:45
That's exactly what. That's exactly what one of the
30:49
chairman from the SEC said. Yeah, last week we played you
30:53
guys a video. She's like, this doesn't make
30:54
sense. What's going on here?
30:56
And now connect that with the Wall Street Journal attack.
31:00
Connect that with Operation Choke .2 point O connect that
31:04
with all the other things and then it starts to paint a clear,
31:07
a very clear picture. Forgive me if I can't come to
31:10
another conclusion that this is politically motivated.
31:14
They don't want to approve this because a spot Bitcoin ETF gets
31:18
approved And guess what? What happens to the number?
31:21
Number goes up. Number goes up.
31:23
Look opting. I could talk, people could
31:25
release podcasts, people could release books.
31:27
But the biggest convincer, like what really, really makes people
31:33
bitcoiners is number go up. Number go up is what gets people
31:37
to be like, I really want to buy into this because I want to
31:42
benefit from Bitcoin too. So if they're trying to roll out
31:46
an American version of a CBDC and guess what, they're also
31:52
having to deal with the currency, that not only is it
31:55
not inflationary, it's deflationary and there's
31:58
competition there. You would think that they're not
32:01
going to be a big fan of Bitcoin.
32:03
And it's in their words. Look in the Presidential
32:05
Economic Report released by the Biden White House.
32:09
They literally dedicated 20 entire pages in that report as
32:12
to why CBDCS are necessary, why you need a state for money, and
32:19
why you something like Bitcoin can't be money.
32:22
And there is a there is a report called The Future of Money and
32:25
Payments released by the US Treasury late 2022.
32:30
In that report, they mentioned stable coins, they mentioned
32:34
payment platforms, but they never mentioned Bitcoin.
32:38
Right. So we know you could surmise and
32:42
have a good feeling of how they feel about this thing.
32:45
So would you put really put it past them to do something like
32:50
they did last week? Would you really put it past
32:52
them to tack to tap on Gary Gensler's shoulder, who's now
32:56
part of government and say, hey Gary, like you know this thing?
33:02
Yeah, it's just not going to work out right.
33:05
Like do you really put it past them?
33:06
Is it really, you know, is, is, is I, I, I, I can't put it
33:09
together, right. So like, clearly the people that
33:15
are in charge of so-called regulating the industry also
33:19
have the most to lose if the industry succeeds.
33:22
They want people using dollars. They don't want people using
33:28
money of which they can't control, censor, inflate.
33:32
It's just common sense at this point.
33:35
And here we played you guys a video literally caught in 4K
33:39
thanks to the Internet that this was brought to light.
33:41
Literally saying, doesn't make sense to me, why there isn't a
33:45
spot Bitcoin ETF and there's a futures ETF doesn't make sense.
33:49
That's the guy who's in charge of approving it, and he even
33:52
comes to the same conclusion that we've been coming to over
33:54
the last couple of months. So I don't think they're playing
33:58
fair. I think it's rules for thee, but
34:01
not for me. And I just think that they they
34:04
it's not really about money laundering.
34:06
It's not really about all these things.
34:08
It's really about the fact that Bitcoin is a threat to their
34:13
privilege of being able to create money for free that
34:15
everyone else has to work for. And they don't like that.
34:19
And they're trying to do whatever it takes, even if it
34:21
means lying, even if it means misrepresenting, even if it
34:25
means associating to Bitcoin to other things that it's not
34:29
necessarily associated to. Yeah, man, I don't know, dude.
34:33
To me, it's incredibly obvious how biased these people are.
34:38
And they're really showing their cards, dude.
34:41
Opti, they're really fucking showing their card, bro.
34:43
To me, this is so blatantly obvious what they're doing right
34:47
now, you know? In my opinion.
34:49
Anyways, what's your take, brother?
34:51
Well, yeah. Just to be clear.
34:53
That video of gangster was before he was at the SEC.
34:57
That's the whole point. That's the whole point.
34:59
He was an academic. What changed?
35:01
What changed from here to there? And we know there's been videos
35:05
of him basically talking very well about Bitcoin.
35:09
He, he released an article for I forget it was like the New York
35:12
Post or something like that where he admitted like
35:14
everything else other than Bitcoin is the security.
35:18
So if that's the case what's the issue here?
35:20
If you believe that Bitcoin is a commodity, why why haven't you
35:24
still accepted, you know, or approved the spot Bitcoin ETF?
35:29
I think it's the same reason that Caitlin Long's bank got
35:31
denied. I think he got tapped on the
35:33
shoulder, right. Like and he's just like, dude,
35:35
like we can't have this like this is bad.
35:37
This is bad news for us. Look what do you what do
35:42
governments do? The moment that companies
35:44
realize that Bitcoin is a better bet than bonds, what are they
35:48
going to do? Like they're in trouble.
35:50
That's a bad that's bad juju for them right.
35:54
So I I just like, I wouldn't put it past them and look at what
35:57
other countries are doing too. It's not only the US look at
36:00
look at what's happening in the UK also anti Bitcoin legislation
36:04
in the in in the European Union. Yeah man, it's some injustice,
36:11
some injustice, say at least hypocrisy, misrepresentations,
36:15
lies and spin. And what we can do to disarm
36:18
that is just shine a light on it and that's it.
36:21
And I think we did that last week and I think that's why we
36:24
won that battle anyways, Opti. Yeah, yeah.
36:26
Well, like I said in the beginning, I don't think this
36:30
these types of attacks are over. Yes, maybe we won this battle
36:34
and even though it was a half half assed retractment.
36:37
I, I, I know for a fact that the powers that be will use, you
36:42
know, the news sources, social media or media sources,
36:45
corporate press, government press, whatever you want to call
36:47
them, to continue to gaslight the average individual.
36:51
Because most people still, for better or worse, look at them
36:55
for authority figures and. They understand that the average
36:59
person is not well informed in in many occasions and so they
37:03
will try to get away with as much stuff as possible.
37:05
Hence why I always tell you guys that we are in an information
37:09
war and the more that we bring these data points, the more it
37:13
becomes obvious to hopefully not just us because we know what
37:16
games being played, but the point of this channel is to try
37:20
to expose more people to the real nature of the beast that we
37:23
are dealing with. And I'm going to kind of echo
37:26
what everyone's been saying in the chat, and I've been saying
37:28
this forever on the show. You know, I really wish Gary
37:31
Gensler had his race car sponsor patches on him so he knew who he
37:36
was actually working for. He is obviously not working for
37:39
the you know, the benefit. We can't, we can't come to that
37:43
conclusion 100%. OK, 98% if you lay out the
37:48
series of events, right? If you just laid out right,
37:51
whether you know it's the reports released by not only the
37:55
Treasury but also the White House, Caitlin Long's bank being
37:57
denied. So the so-called Operation Choke
38:00
.2 Point O. Also you know the the Wall
38:04
Street Journal attack. A Wall Street Journal, Elizabeth
38:07
Warren and her media allies attack last week on Bitcoin.
38:11
Like, I'm sorry, I can't say this 100% of, you know, I can't
38:15
say this with 100% certainty. But it sure does feel like there
38:19
might be some political motivations behind the spot
38:22
Bitcoin ETF not being approved. Particularly when Gary Genzer
38:26
himself, we just played you guys a video, is caught in 4K saying,
38:31
yeah, it doesn't kind of make sense why there's a future spot
38:33
ETF and there isn't a Bitcoin spot ETF.
38:36
That was before he was working in government.
38:37
What changed after he started working in government?
38:40
I don't know, but it like it it it sure does look suspicious to
38:44
me. Opti and I went through this
38:46
like denial phase for the first couple months that we started
38:49
covering these topics and we're like, there's no way like
38:52
they're just uninformed. They they they just don't know
38:55
any better. We just need to educate them
38:57
more on the matter. But it was like, it's a series
38:59
of events over a long period of time that makes you come to
39:04
certain conclusions and there hasn't been anything that
39:07
they've done to prove otherwise, right?
39:10
It just shows that there's some people, if it's not a monolith,
39:14
but there's some people that just don't like this industry.
39:17
I can't come to another conclusion at this point, you
39:20
know, But look, I think it's the incentives are very strong for
39:24
the spot Bitcoin ETF. I think it will inevitably get
39:27
approved. I I I don't think that they
39:29
could hold it back for whatever reason for that much longer.
39:33
Now specifically that BlackRock has is involved so let's see
39:37
where this goes from here. But but yeah, man, I I I can't.
39:40
I can't help but to say I'm I'm, I'm a little bit disappointed.
39:43
I'm a little bit disappointed. Once again I don't know why I
39:45
keep giving the benefit of the doubt, man.
39:47
But what changed? I want to ask that question.
39:50
If we can ask one question to to Chairman Gensler.
39:53
What changed between then and now?
39:56
Why? Why?
39:57
Why Why did you change tune now? You're the person that decides,
40:01
right? Someone.
40:03
An SEC commissioner, We played you guys a video last week.
40:06
She even was asking the question.
40:08
I don't understand. This is the like.
40:11
I don't understand why this hasn't been approved.
40:13
Right. So what?
40:14
What? What has changed?
40:15
What? What is going on?
40:16
I don't know. I don't know.
40:17
I don't know what's changed, right.
40:20
Anyways, OK, if you're a bitcoiner anyways, whether it's
40:26
the Black Rock Spot ETF or any ETF, keep this in mind.
40:29
You're not buying real Bitcoin, right You?
40:32
The best thing to do is buy Bitcoin, earn Bitcoin, mine
40:36
Bitcoin, and take that Bitcoin into self custody.
40:39
The best thing that you could do?
40:40
Buy yourself some real Bitcoin. Don't buy yourself.
40:43
You know someone else's Bitcoin that they owe you and I owe you
40:46
for. I know a lot of people are going
40:48
to want to get exposure that way, and that's fine, but that
40:51
would be our recommendation here.
40:53
It's simply Bitcoin. I want to give a shout out to
40:55
our sponsor, Kaboom Rex. They're the best place to buy
40:59
Bitcoin miners. You can buy, sell and host
41:03
mining equipment with them. You got to check out their
41:05
racks. You could scan the QR code on
41:07
your screen right now. It'll take you directly to their
41:09
Telegram marketplace and you can connect with the member of their
41:12
sales team. They make purchasing products
41:15
easy and transparent. You could also sell mining
41:18
equipment with them. They have a vast network,
41:20
domestic and international customers.
41:23
Or you could sell your mining equipment them and one of their
41:25
representatives will hand hold you through the entire process.
41:29
I highly, highly recommend Kaboom racks if you're trying to
41:32
get into Bitcoin mining. They're freaking awesome.
41:35
Kaboom racks. Their name is even dope.
41:37
Check out Kaboom Racks today. All right everybody, let's get
41:40
on to the culture. We have a lot to talk about.
41:45
The Daily Culture brought to you by Swan bitcoin.com Swan is the
41:50
best way to build your Bitcoin stack with automated Bitcoin
41:54
savings plans and instant purchases serving clients of any
41:57
size from $10 to $10 million. We love Swan because they
42:02
incentivize self custody and dollar cost averaging.
42:06
What are you waiting for? Visit swanbitcoin.com today all.
42:11
Right guys. I I already kind of gave you
42:14
guys the context for this, but I just thought right as we were
42:18
going, right as we're transitioning into the culture,
42:20
wait, I got the perfect meme to open up today's culture segment.
42:23
All right, so we all know this classic meme here of the Indian
42:27
guy with a bunch of gold necklaces and bit corners.
42:29
Be like I'm in it for the technology and this is a
42:33
constant criticism. To all of us bitcoiners, you
42:36
know we have good memes here of came for the money, stayed to
42:40
fix the money. Or, you know, I'm not here just
42:43
for the price appreciation. Not here just for the games,
42:45
here for the revolution. Well, I think it's almost,
42:48
excuse me, one and the same. So again, I'm starting it with
42:51
the meme, because of course I I once was.
42:55
A simply ship posting bit corner.
42:57
But now we make serious content for you guys because I think
43:01
there's a balance of doing both, you know, ridiculing the
43:03
corporate press but also continuing to give you guys
43:08
context. No receipts value.
43:11
Anyways, here we are, you know what I mean?
43:14
Bit corners be like I'm in it for the tech.
43:15
You're going to hear this constantly moving forward from
43:18
here on out. If this is your first cycle, be
43:20
ready for it. Just know that more and more
43:23
people, as the price goes up, we're going to constantly hear,
43:28
you know, flood lines of like, oh, bitcoins, too expensive.
43:31
Oh, you're here just for the games.
43:33
Oh, I thought you're here for the revolution.
43:35
Like you should feel bad about getting rich and improving your
43:38
life. And all of that is BS.
43:40
And we're even seeing bitcoiners say this themselves.
43:43
And and you know, whether it's seriously or whether it's a
43:47
troll and kind of, you know, just like poking the bear.
43:51
But I think the point still remains that it's what I always
43:54
said. Bitcoin price is a real time
43:57
metric of people's understanding of Bitcoin.
43:59
And as the price goes up, this is good for the whole space in
44:03
general. Number will go up forever.
44:06
It's part of the game. As much as we would like to try
44:11
to separate the price from Bitcoin, This is why people are
44:16
going to fumble into Bitcoin as price goes up.
44:18
You know, human psychology. Strange.
44:20
We had just had Bitcoin AT15K for almost a year or so.
44:25
It seemed like forever and now the price is going up and and
44:28
people are starting to catch that FOMO bug.
44:31
And as the price goes up even more, this is going to continue
44:33
to happen. And this is a virtuous feedback
44:36
loop anyways. We had some bitcoiners Gin urso,
44:40
IKA, Margot PS Sorry for perching your name.
44:45
She basically summed it up and and you constantly hear this in
44:49
the Bitcoin space and so not here to pick up pick on Margot,
44:53
but it's just a good placeholder here and so she tweets.
44:56
If Bitcoin isn't about making money, but about making money
44:59
better than, why all this price action talk?
45:02
And Lynn Alden just absolutely destroys the argument.
45:06
And this is what I wanted to read because you know, I can
45:09
talk about this all day and and make fun of ourselves and talk
45:13
about in meme form in memetic format that we are here to fix
45:17
the money. But yes, as we do that, the
45:20
Bitcoin price will increase because more and more people
45:23
will wake up to Bitcoin. They won't understand the
45:25
virtues of Bitcoin. Hard cap money.
45:27
Censorship resistant money. Digital money for a digital
45:30
world, all the memes I talk about constantly.
45:32
But you know, I'm just going to give Lynn the floor here because
45:35
she just absolutely takes this to school in this tweet.
45:40
And I think this is one of those tweets that you can constantly
45:44
rely on. As we move further and further
45:46
and we start to hear more and more people start to yell at us
45:49
because we were right and the price is going up and our.
45:53
Fundamentals on Bitcoin are correct and This is why the
45:55
price is going up and you should not feel bad about that anyways.
45:58
Lynn Alden goes here in response to if it's not about the money
46:01
and it's about making the money better, why all this price
46:03
action talk? And here's Lynn's response
46:05
because money is a network. Good liquidity feeds more
46:09
liquidity and eventually broad enough liquidity feeds
46:11
stability, which makes it more usable, which then feeds more
46:14
liquidity. It is similar to why we are all
46:17
here on this platform. Whether or not we like the
46:19
recent owner, Bitcoin can't win or solve big enough problems at
46:23
A5. $100 billion market cap. It's too small and widely
46:27
dispersed, etcetera. It's a venture money bet.
46:29
In that range and without fees it would eventually be
46:32
capturable. Bit corners are each small
46:34
candles in a World of Darkness, unconnected and volatile, with
46:37
only small hubs at $500 billion like my family and friends in
46:41
Egypt. Bitcoin barely heard of it.
46:43
Too volatile, too small. Doesn't matter.
46:45
Can't help them day-to-day unless they put in a few 100
46:48
hours and get the laser eyes. And have enough financial
46:50
privilege to absorb the price volatility and hold it for five
46:53
to 10 years as a saving asset. But when Bitcoin is 5 to 10
46:57
times bigger and more widely dispersed and less volatile due
47:00
to being further along adventure journey of adoption and having
47:03
more media recognition with it, another all time high that helps
47:07
the network of candles gets electrified and connected.
47:10
Darkness becomes light plus price is a market signal.
47:13
A5 year stagnant price is a negative signal.
47:16
More specifically, Bitcoin price has a lot of correlation with.
47:20
Global liquidity As long as Bitcoin price rises with global
47:23
liquidity, that is good. If Bitcoin price falls to fails
47:26
to rise during rising periods of global liquid liquidity, it is
47:30
potentially a signal of network illness.
47:32
Ongoing price increases are evidence of adoption and
47:36
positive market signals, especially when adjusting for
47:39
global liquidity. A good technology should
47:41
increase in market size. But it's a good question.
47:44
Despite being bullish, I have emphasized the fence and
47:46
challenge rather than the presumed ETF price pump.
47:49
People should keep their eye on the ball rather than get drugged
47:52
with price bumps on their bags. Humanitarians and freedom
47:55
fighters, however, should not let price get in their way.
47:58
Higher market capitalization and liquidity enables them,
48:01
validates them, and is a necessary step along the way.
48:06
Hold on bars, OK, I say this all the time.
48:10
Liquidity begets liquidity. Bitcoin price is a real time
48:14
metric of people's understanding of Bitcoin.
48:16
As number goes up, human psychology is what it is and
48:19
people will follow into Bitcoin. And remember I showed you this
48:22
chart last week from this article on Nakamoto Institute.
48:25
10 years old chats at the Pierre Rochard and the Fed hoard
48:28
bitcoins. Here is the chart The Virtuous.
48:32
Feedback loop of Bitcoin As more people hoard Bitcoin or Hoddle
48:36
Bitcoin or save in Bitcoin, whatever phrase you want to use,
48:39
the Bitcoin price goes up. As the Bitcoin price goes up,
48:42
there's more mining, profitability, total hash power
48:45
goes up, the security of the network goes up.
48:47
And as the price of Bitcoin goes up, there's more media
48:50
attention, there's more perceived legitimacy of Bitcoin.
48:53
And then as that cycle increases and the consciousness raises in
48:57
regards to people saving in Bitcoin, then more users adopt
49:00
it as more users adopt it more. Businesses adopt it and this is
49:04
just a feedback loop guys. So I say all that to basically
49:08
TLDR this in a way that we all know and love.
49:12
Hey came for the money, stayed to fix the money.
49:16
As price goes up, people will FOMO into Bitcoin.
49:19
Look, this is where. This is why I found Bitcoin in
49:22
the first place. I didn't hear any of the, you
49:25
know, the virtuous memes of Bitcoin. 21 million hard caps,
49:29
censorship resistant digital money for a digital world.
49:32
Something that you can truly own in a world where they want you
49:34
to own nothing and be happy. No, I heard about Bitcoin when
49:38
it broke 10 Ki heard it like five or six times that day.
49:43
The day it broke 10K. And then I finally sat down with
49:47
my cousin and I asked him, have you ever heard about this
49:49
Bitcoin thing? And then I fell down the rabbit
49:51
hole. So guys.
49:53
Do not get shamed into believing this errant idea that you cannot
49:57
talk about price. Yes, we try not to speculate on
50:00
Bitcoin, but it is a monetary good.
50:04
And if Bitcoin is going to go where we believe it is going to
50:08
go, then it's going to have to blow past $500 billion.
50:11
We've been at $500 billion market cap for way too long.
50:15
And I'm not going to let people shame us into believing that we
50:20
are not as virtuous as we are as the price goes up.
50:23
Guys, you need capital. You need to have capital in
50:27
today's world. As I said in the past, kind of
50:29
jokingly, you know, I've never seen an unhappy man on a jet
50:31
ski. Hey, you know, money doesn't
50:34
solve all the world's problems, But if you are broke and you
50:37
can't survive, then what is all this?
50:41
What is? What is?
50:42
What is, what is this all worth? Yes, we all want to improve our
50:45
lives. Yes, the Bitcoin price is going
50:48
to go up. Yes, as the Bitcoin price goes
50:50
up, we will usher in a better world.
50:52
The incentives of the the Fiat world will get realigned.
50:57
You will live a better life. And hopefully.
50:59
You will put your capital to building things that improve the
51:03
world. Bitcoin is entrepreneur money.
51:05
It it forces all all of us to believe and think like
51:09
entrepreneurs. So hopefully.
51:12
That as we move forward in this process, more and more people
51:15
start to build things that they want to build.
51:17
Hopefully you are putting your capital where you want to.
51:20
You know, what's the saying? Put your money where your mouth
51:22
is? Well, all of us bitcoiners have
51:24
put our money where our mouth is.
51:26
Nico and I have basically given up everything to try to build
51:29
simply Bitcoin. We are working and living on the
51:32
Bitcoin standard. And I I I know it sounds very
51:37
like I don't know the right word right now.
51:40
Like it. It feels good to say like, oh,
51:42
I'm not here for the price. But guys, just be honest with
51:46
yourself. I want to get wealthy, but I
51:48
want to do it in a way that I know I am helping not only
51:51
myself, but humanity. We all want to engineer a better
51:55
world. What's the question that sailor
51:57
was asked the other day by our boy Max DeMarco.
52:00
What are you doing to improve the world?
52:02
No, no, What's the question that you've never had asked?
52:04
Yeah, and his response, his question was what are you doing
52:07
to improve the world and. This is what I think we're all
52:11
doing here. Yes, as number goes up our lives
52:15
will get better, but it's also about the price signals to the
52:20
world that what we are doing and our first principles are
52:24
correct. I always tell my friends, as the
52:27
price goes up, it just proves to us that we're right guys.
52:30
So we're we're being proved in real time that we are correct
52:33
that our thesis is correct, that our fundamentals are strong and
52:37
so. If this is the first time you're
52:39
hearing this, guys, don't. Don't let people shame you into
52:42
this idea that, oh, you just got lucky.
52:44
You know, like, oh, you're you're here just to get rich.
52:47
It's like, yeah, everyone wants to make money.
52:50
You have to have money in the world.
52:52
The world we live in, society. You need money.
52:55
Well, what good is it? You need money.
52:57
What good is it for all you guys to be poor and right?
53:01
I'd much rather you be rich and correct.
53:03
So saving Bitcoin live a good life.
53:06
And Prosper. Do good things and Prosper
53:09
propagate. The Bitcoin memes number is
53:12
going up. Hey, we're right.
53:15
So be it. Toddle them coins.
53:18
Like don't. Don't let the collectivist
53:20
Shameless into believing that number isn't important here.
53:23
It is very important, yeah. And I just want to kind of add
53:26
to what Opti's saying, you know, 'cause I I think a lot of people
53:30
have where they, we've heard this when we were kids, like
53:33
don't talk about money. It's ugly, right?
53:36
They're talking about Fiat. Yes, Fiat money is ugly.
53:40
Yes, Fiat money brings out the worst in people.
53:43
But remember that Bitcoin is an aligned incentive structure.
53:48
So Michael Saylor pursuing his own greed.
53:53
You as an individual pursuing your own greed, you're actually
53:57
bettering and strengthening the Bitcoin network.
54:01
It is an aligned incentive structure.
54:04
A Bitcoin miner, They're not mining out of the goodness of
54:08
their heart. They're trying to get wealthy.
54:10
I run a node. I recommend start 9:00.
54:13
They have a deal, By the way, you could check it in the video
54:15
description. I run a node because I don't
54:20
trust someone else's node. I don't trust someone else's
54:23
copy of the Bitcoin blockchain. Why would they?
54:26
If I'm storing my wealth, I want to trust myself, right?
54:29
Why do we advocate for self custody?
54:32
Why are we pushing? Why do we take Bitcoin only
54:36
sponsors and stuff? Because it's because we wanna
54:42
propagate the message. If you're not holding onto your
54:45
own keys, are you really taking self custody?
54:48
If you're writing down your 24 word seed words and you're doing
54:52
it on paper and you're not doing it on metal, like you get what
54:54
I'm trying to tell you here, like the incentive structure is
54:58
aligned. So don't feel bad pitching
55:00
Bitcoin to your family and friends because it's like, yes,
55:04
they are so-called taking AI. Don't see it as a risk, but
55:08
let's say a financial risk, you know, putting their money in
55:11
Bitcoin. But number go up's gonna do its
55:14
thing. It's gonna help you because
55:17
obviously you're holding Bitcoin.
55:18
It's gonna help them because they're gonna benefit from
55:20
number go up, right? So everyone benefits.
55:24
The Fiat system is structured in a way where an elite,
55:28
bureaucratic elite benefit from the privilege of being able to
55:32
create money for free while everyone else loses.
55:36
So you have this Society of winners and losers versus in the
55:40
Bitcoin world, if you're holding Bitcoin earning mining Bitcoin,
55:44
that doesn't necessarily mean you're gonna be as wealthy as
55:46
sailor. I never said that.
55:48
But relative your wealth will continue to increase in
55:53
purchasing power over time. You're you're transitioning from
55:57
an inflationary mindset to a deflationary mindset.
56:00
And we're so used to like, you know, this zero sum world that
56:06
we can't even comprehend a world with aligned incentives.
56:10
We can't even comprehend a world where politicians actually do
56:14
the the things that they say they're going to do if they get
56:16
elected. Which is why I believe that
56:19
Naimbu Kele is so loved because he fixed the base layer of
56:23
society. Like, it kind of makes sense,
56:26
right? So anyways, this is kind of, you
56:29
know, like very. It's a touchy subject.
56:33
It's it's very deep down the rabbit hole type of thing and I
56:36
understand that anyone new to here, I I get it.
56:39
But I'm telling you the, the key point here is Bitcoin is an
56:45
aligned incentive structure model.
56:48
And because it's an aligned incentive structure model,
56:51
everyone wins. Everyone could win, right?
56:54
If you get on a Bitcoin standard, you're going to
56:56
benefit from NGU just as much as Michael Saylor.
57:00
And Michael Saylor doesn't have a privilege of being able to
57:04
create money for free. He has to mine Bitcoin, earn
57:07
Bitcoin, and buy Bitcoin just like everybody else, right?
57:10
So keep that in mind. But let's review some memes.
57:13
Let's do it. The Daily Meme Review All right
57:25
boys and girls. Mainly boys, but some girls
57:28
shouts out to the girls. This is the meme review where
57:33
you send us memes. Tag me on Twitter at Simply
57:35
Bitcoin TV. I'm still telling you to tag my
57:38
personal one. It hasn't got crazy.
57:40
I will stop that soon. Tag me at Optimus Fields on
57:43
Twitter or or. Drop the tweet in our telegram
57:48
group T dot me slash simply Bitcoin TV.
57:50
We have a awesome, awesome group of people in there.
57:53
And actually, actually, actually I told you guys in the
57:55
beginning, we're going to do a giveaway AT21K on our YouTube.
58:01
You know, 20K is cool, but 21K has significance for us
58:05
bitcoiners. So AT21K we're doing a giveaway.
58:08
It may or may not be a simply Bitcoin branded stamp.
58:12
Seed with the hammer and all that good stuff and we might
58:14
throw some other goodies in there.
58:15
That's probably going to be our grand prize for you guys.
58:19
I think I am going to figure out a way to make sure that that's
58:23
for you guys in the chat, 'cause you guys hold us down every
58:25
single day and that means a lot to us.
58:27
So the grand prize. It might you might you might
58:29
think we're we're picking favorites but I think I am.
58:33
I have your guys's name here. I will do a random way so I I'm
58:38
I'm not involved in choosing my friends out of the chat.
58:43
We can do it live if you want, so you know it's totally random,
58:46
but the main prize is going to go to you guys in the chat.
58:49
But you will need to subscribe to our YouTube like or join our
58:55
Telegram group and. Follow us on Twitter.
58:59
I think that's going to be the three main things that we are
59:02
going to do. I'm still kind of working out
59:03
the kinks for you guys. We probably have like about a
59:06
week until we figure this out, but we're going to give the main
59:10
prize to you guys that hang out with us every single day in the
59:13
YouTube chat and then we're going to give you guys some
59:16
other prizes. So if you're just a loyal
59:17
listener and you can't hang out in the chat with us every day we
59:21
see you, we appreciate you and we will get you guys.
59:25
Some winners from just people that watch our show and hang out
59:28
with us in Telegram and follow us on Twitter.
59:31
So sorry, it's some PS as you know and I I I've been meaning
59:34
to tell you guys this last week. Anyways, tweets are the bullets,
59:37
memes are the artillery. We are in an information war as
59:41
we've been covering a lot lately.
59:42
On the show, they constantly try to bombard you with noise.
59:47
They don't want you to know what's up from down.
59:49
They want you to forget the signal.
59:50
But what are we going to do? We're gonna propagate the memes.
59:52
We're gonna continue to stay humble, stack sats and stay
59:55
solvent, taking Bitcoin into cold storage and then doing our
1:00:00
best to incept the ideas of freedom money into every single
1:00:04
person, whether they listen or not.
1:00:07
All right, all right. First we even by what?
1:00:10
Jack Bitcoin. He goes, I like it.
1:00:11
Thumbs up. And we got the NPC shit corner
1:00:14
here and he goes, now we have a name for you.
1:00:16
What now? Bitcoin Maxi.
1:00:18
And they throwing Bitcoin Maxi at us.
1:00:21
And the Chad bitcoiners are like check with laser eyes.
1:00:24
I like it. I like the name Bitcoin Maxi.
1:00:26
You know, there's there's a lot of mental judo that we do as
1:00:30
bitcoiners where give us all your hate, give me all your
1:00:34
negative names, call me a psychopathic, illiterate
1:00:38
financial terrorist or whatever, and we will embrace this.
1:00:42
Your negative is our positive, all the hate you give me.
1:00:45
We turn it into love as we turn the world around and turn the
1:00:49
shithole of a Fiat world into a Bitcoin world.
1:00:53
Slowly but surely, it's happening in real time, shouts
1:00:55
out the world. You're not financial terrorists.
1:00:57
I know. I'm using their words against
1:00:59
them. That's what they called us.
1:01:01
If you don't know the meme or the joke, or you're not in in
1:01:04
on. The weird man.
1:01:05
We're not financial terrorists, but they called.
1:01:08
Us that. But they sure want to.
1:01:10
I'm pretty sure it was the Wall Street Journal on them who
1:01:13
called us that. They want to associate.
1:01:15
They, they call the psychopaths that we could say for sure.
1:01:18
They did say that. But they do want to associate
1:01:22
Bitcoin with money laundering and they do want to associate
1:01:26
Bitcoin with terrorism, right. And as we saw last week covering
1:01:31
the news, obviously it was based on misrepresentation and this,
1:01:36
the disinformation. So you know, they can, they can
1:01:40
call us this and and look, you're saying that now, but I
1:01:44
wouldn't be surprised in a couple of years if we don't
1:01:47
stand our ground. Where they literally say if
1:01:50
you're not using Fiat money, you are a money launderer or you are
1:01:55
a financial terrorist, right? Like, I I would not be surprised
1:01:57
if it got to that point. If we don't wake enough people
1:02:01
up, if we don't win the race to avoid the war, if we don't get
1:02:04
that intransigent minority in the United States that becomes
1:02:08
unmovable in a certain issue. So yeah, it is funds and it is,
1:02:13
it is fun and games. But I wanted to add a little bit
1:02:16
of context to what OPTI was saying.
1:02:18
Nico, You know, I'm glad I have at least one sober bitcoiner
1:02:22
here with me as we move forward. Usually I say it's Mike.
1:02:25
But Nico, you're doing a great job over there.
1:02:28
Love it. OK, All right.
1:02:31
Next meme is by Big Sean Harris. And I'm gonna, I'm gonna first
1:02:36
start with the meme. I usually start with the tweet
1:02:38
part. You can see this me, you know,
1:02:39
we're just like a friendly dog. You know man's best friend.
1:02:44
And it's us bitcoiners where you know we we really want to do
1:02:48
good. We really want to usher in a
1:02:49
better world and all. We really want to talk about
1:02:52
freedom, money, and and help more people understand that they
1:02:56
are debt slaves and that they need to help themselves.
1:03:00
And then they all come up to you and go, hey, me, when they tell
1:03:04
me they're in crypto, the the real beast comes out.
1:03:07
And then this very nice dog here turns into what looks like some
1:03:11
kind of gremlin demon dog that is popping out right now 'cause
1:03:17
it's Halloween and it happens to all of us talk about Bitcoin.
1:03:22
But then once they say crypto, it's like nails on a chalkboard
1:03:26
and you, you might just get triggered.
1:03:28
Anyways, Big Sean, here it goes. Cool story, bro.
1:03:30
Anytime anyone says, Oh yeah, I love Bitcoin, but I mean it for
1:03:33
crypto. You're just like, oh, cool
1:03:35
story, bro. I know you don't get it.
1:03:37
Literally, anytime someone says crypto in, in my in my mind, it
1:03:42
just shows that they don't get it.
1:03:43
Unless they're Larry Fink out there because he's been using
1:03:47
crypto and we know. We know why cuz he can't talk
1:03:49
about Bitcoin, so I think it's on purpose guys.
1:03:52
Anyways, next one is Maxi's club and it goes 563.
1:03:54
Good one and we got a Bitcoin in here, a very nice bitcoiner
1:04:00
here. He's wearing his polo shirt, his
1:04:02
Opti and his polo shirt and it's Monday after all and he's
1:04:06
talking to, you know, the the the Bitcoin gosh in the sky.
1:04:10
And he goes, give me a reason to go to work.
1:04:12
I don't want to go to work. And then you're going to feel
1:04:14
this as number goes up too, I bet.
1:04:16
And then, you know, the Bitcoin eyes comes out and God talks to
1:04:20
you and he goes, sats aren't getting any cheaper.
1:04:23
This is why you need to work. This is why you need to provide
1:04:25
value because numbers going up and means we're getting less
1:04:29
sats for our very bad Fiat money.
1:04:33
You know price rises are bittersweet.
1:04:36
Feels good. But then you can't get as many
1:04:38
SAT's as before. Anyways, next one is Bitcoin
1:04:41
scores being it goes troubled by blood sucking evil money.
1:04:46
Bitcoin fixes this and we got a vampire here.
1:04:51
You know, like Dracula. And it goes Bitcoin fixes this
1:04:55
global, borderless, permissionless, unsensible,
1:04:58
uninflatable digital cash. Learn how to use it.
1:05:02
The story of the strongest money the world has ever known Bitcoin
1:05:06
fixes is are you troubled by blood sucking evil money?
1:05:10
Maybe you should own some Bitcoin.
1:05:12
Might need to get some just in case the gadge is on.
1:05:14
All right, next one, Alan B. Watts, AKA Alan BWT on Twitter.
1:05:18
And he goes Hashtag Bitcoin's next meal.
1:05:21
And we got this wolf here, dark Gray, maybe black wolf.
1:05:26
It's got the Bitcoin logo on him.
1:05:28
And then he's looking at these little wolves over here and it
1:05:32
looks like he's going to eat them.
1:05:34
And one of them is the struggling bond market and the
1:05:36
other one is overpriced stocks. Which one is going to be
1:05:39
Bitcoin's next meal? We are seeing so much attention
1:05:43
being brought to the bond market and everyone still thinks it's
1:05:46
the risk of the the best way to save money.
1:05:49
And as all the macro guys have been showing us, there is some
1:05:52
cracks in the system and I wouldn't be saving in bonds if I
1:05:57
were you. Not the best trade and it's
1:06:00
probably going to get worse moving forward.
1:06:02
But hey, I'm not, I'm no macro guy.
1:06:04
I don't know what I'm talking about.
1:06:06
All right. Next meme is by Gusta Becca.
1:06:07
Shout out to Becca and she just goes, good morning or GM and we
1:06:12
got you know Pepe the Frog here with the clown hair and clown
1:06:16
nose and it goes, he's got some night vision goggles here but
1:06:19
they are activating clown World Vision goggles And then they
1:06:23
turn on it goes, wait everything that looks exactly the same.
1:06:26
Yeah, we are living in clown world guys.
1:06:29
This is why Bitcoin will reduce the distortions of Fiat money
1:06:34
because we are in the midst of clown world and this last one is
1:06:37
by Ding Dong 2001. He goes me and the bulls riding
1:06:40
into end of year and we got this horse rider in a flame in a fire
1:06:48
and it is full sned. We are in full sned mode guys.
1:06:53
Make sure you stay humble, stack SAT, stay solvent.
1:06:56
Because it looks, I don't know, maybe, maybe we got one more,
1:07:00
one more leg down. Maybe we got to test this
1:07:02
correction here, test, wait, test this support here at around
1:07:08
35 K So maybe you will, maybe you'll get some cheaper Sats for
1:07:11
a little bit. But who knows?
1:07:13
I'm going to say it. We are in full SNED mode, and we
1:07:16
are going to be going into full sned mode in all 2024 and into
1:07:21
2025 as we start to get closer into the halving.
1:07:26
Full sned, full sned ahead guys. Oh wait, oh XX.
1:07:31
Got it. OK, OK, sorry.
1:07:32
So the meme was coyotes being stirred down by a wolf.
1:07:38
OK, all right, sorry, #opti doesn't know what he's talking
1:07:42
about. All right.
1:07:43
Anyways, drop your main of your score in the chat.
1:07:45
Do it now. Do it now.
1:07:47
Because we don't want the delay like always.
1:07:49
So drop it now. You got all.
1:07:51
I mean, all right, I'm gonna do a single sheet of toilet paper.
1:07:58
Single sheet. I'm running out of scores over
1:08:00
here, guys. I need more trinkets.
1:08:01
I'm gonna give it this glass water bottle.
1:08:03
Wait, you've done that before? And a cell phone.
1:08:10
Wait, hold on, hold on, Briggs says.
1:08:11
What is sned? It's like huddle, but it's send
1:08:15
full, send full sned. I I feel like I I say that all
1:08:21
the time and everyone doesn't know what I'm talking about.
1:08:23
All my normie friends. Like what?
1:08:24
What the hell is sned? It's a misspelling of send full
1:08:27
sned ahead. OK, anyways, we see some scores,
1:08:33
so here we go. First score by lane Bitcoin.
1:08:46
Finally adopted by the anti war crowd as they realize forever
1:08:50
wars are only possible when the money printer goes.
1:08:55
Very nice, very nice. Next one by Frederick Kotz 6 OK,
1:09:00
throwback score. Throwback Score Jose.
1:09:03
I rate the memes a wolf dog and a pair of coyotes.
1:09:06
I like it. I like it.
1:09:08
I like it. Rico Psycho pronounced psycho OK
1:09:13
psycho 5 simply Bitcoin giveaway.
1:09:16
One Bitcoin for the 21 K giveaway.
1:09:18
Wow, I wish we were that race. Yeah, yeah, we're not quite
1:09:22
there yet. Meme score bonds are not risk
1:09:26
free. OK.
1:09:27
It's good. It's a good one.
1:09:29
All right, next one. Next one.
1:09:30
We got Phil. CI Give the memes a celebration
1:09:33
when the lizard people are no more, OK?
1:09:36
OK, next one by Opti uses the TG chat live for the giveaway.
1:09:42
Alt Giveaway prize 69 uncensored memes on the main show.
1:09:46
Yeah right. Maybe we do a Bitcoin TV special
1:09:49
or something. Matthew J meme scored ten.
1:09:52
I give it a 10 in Billy Bob's voice from Varsity Blues.
1:09:56
OK, OK, good score. Crypto Bold.
1:09:59
I can't read that crypto bold bro.
1:10:02
I mean Bitcoin Bitcoin bowl. Ah damn.
1:10:08
You got to change your name to Bitcoin Bull, my friend.
1:10:10
Rave Elevator. I score the memes one candy corn
1:10:14
in a pillowcase. OK, OK, Big Sean here.
1:10:18
I give the memes another delayed ETF, which actually means
1:10:21
cheaper sats. Yes, wait, Bart, Penn Rd.
1:10:26
A worn headdress. All right, we are out of score.
1:10:34
We are out of time. Guys, thank you so much for
1:10:37
tuning into another episode of Simply Bitcoin Live.
1:10:39
If you enjoyed the show, make sure to smash that like button.
1:10:41
Consider subscribing if you feel like we provided you value.
1:10:44
But the number one thing you could do to help push the
1:10:46
peaceful Bitcoin revolution. Share Bitcoin content, Share
1:10:49
Bitcoin art. We got to take over the culture.
1:10:52
We got to, we got to win the the culture aspects of it.
1:10:56
So share all Bitcoin content, whether it's art, music, you
1:10:59
know, sculptures, paintings. Content.
1:11:02
Whatever you think is going to push the envelope, take agency,
1:11:06
take action, get involved, Make a Twitter account, make a noster
1:11:09
account. Make a YouTube account.
1:11:11
Every like, every tweet, every meme that you make, every video
1:11:17
are really metaphorical bullets in this narrative trench warfare
1:11:20
to win over the hearts and minds of people.
1:11:22
Bitcoin is the great unifier. It's not left versus right.
1:11:25
It's green versus orange. All right, I love you guys.
1:11:27
We'll be back tomorrow for another episode of Simply
1:11:29
Bitcoin Live. I'm your host Nico, who's my Co
1:11:32
host Opti. I think Opti's going to be
1:11:34
holding it down on Twitter spaces.
1:11:35
Definitely join it If you guys want to continue the
1:11:39
conversation, we are Co hosting it with our friends over at Swan
1:11:42
Bitcoin. Best place to build your Bitcoin
1:11:43
stack and shout out to the best producer and the game producer
1:11:46
Jacob. So find us on Twitter, you can
1:11:48
join the spaces and until next time guys, we will see you
1:11:52
later. Peace out, everybody.
1:12:04
Wow. I just.
1:12:04
Matthew McConaughey hated this. Simply.
1:12:06
Bitcoin spaces. OK, all right, all right, all
1:12:09
right. You guys know the deal.
1:12:11
This is the spaces where it is a Bitcoin space.
1:12:15
Buy bit corners for bit corners. So come up here, add your two
1:12:18
sats to the conversation. We can.