Latest / Simply Bitcoin / Beautyon | Separation of Money and State | Simply Bitcoin IRL

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Beautyon | Separation of Money and State | Simply Bitcoin IRL · Simply Bitcoin

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All right, everybody. Welcome to another episode of
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Simply Bitcoin IRL. I'm very excited for today's
0:05
show. We have the privilege of having.
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One of my favorite bit Corners is takes are fascinating,
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they're great. And I really enjoy them.
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And I'm talking, of course about the legendary Beauty on before,
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before I get to that, I have to give a shout out to the Bitcoin
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company that helps make the show possible.
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So if you haven't already done, so go check out Swan Bitcoin.com
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today. All right, that being said, I
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want to bring Beauty on onstage. How you doing, man?
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I'm doing very well, because thanks for having me again,
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happy to have you. So, Last time you came on the
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Regular Show, it was a fan favorite and people were
1:06
absolutely getting their mind blown.
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And now that we have a full hour without any commercial breaks in
1:12
between, I want to take advantage of this time to just
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explore further elaborate or talk about some of the topics
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that we were talking about previously.
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So I'm going to start off with just very basic.
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Question Beauty on and I know that we've talked tremendously
1:28
about this in public, But in private and I think we mentioned
1:32
it a little bit. Last time you came on simply
1:34
Bitcoin live but it's just is Bitcoin, winning inevitable in
1:40
your eyes. Yes, it is.
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I think it is inevitable in the same way that email as a system
1:48
of moving messages around was inevitable.
1:51
As first-mover advantages has a tremendous amount of momentum
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and if the state would get out of the way, the acceleration
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towards Total Domination of Bitcoin would be coming much
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faster but it is going to happen without a Shadow of Doubt.
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Awesome. So you mentioned, you mentioned
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something right? Which was the state getting out
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of the way. Clearly Bitcoin is a threat to
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the the the state's root of power, right?
2:25
Which is having the ability to power and privilege to create
2:30
money for free that the rest of us serfs and peasants have to
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work for basically and we know that their last gasp right there
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last Gasp at maintaining that privilege is, you know, the
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Central Bank, digital currencies.
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So first of all the that's that's not that's not true.
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The root of the power of the state is the Monopoly on
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violence, that's the route power.
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It doesn't really matter. If the money is Bitcoin or not,
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they have Monopoly on violence. They can force you to pay 100%
3:08
of your earnings in Bitcoin. To them.
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So the power to print money is not their power is the ability
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to execute violence against people so whether Bitcoin is the
3:19
money or not, they will retain this power.
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What it will do is put a constraint on their spending if
3:27
everyone refuses to use their funny money, that's the true
3:31
power of Bitcoin, it doesn't solve the problem, the problem
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of the, the power of this state and their Monopoly on violence.
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So is that, is that Problem, even solvable, or is that
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problem, not necessarily a problem, it's just that right
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now, the incentives are perhaps you can make an argument are
3:50
misaligned because the state has a monopoly on the issuance of
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money, right? And that kind of misaligns the
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incentives between the citizens and the state, right?
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So do you believe that? If it go ahead, what it does, is
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it gives the state the ability to pay and an almost unlimited.
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Limited number of troops to go up and steal money from people
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troops mechanisms. Like, those are those 86,000 IRS
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agents. They wouldn't be able to pay for
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that kind of thing if they had only Bitcoin as the money
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because it'll put a constraint on the amount of people that can
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put into the field to harass people.
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Now, that doesn't mean that they won't be able to collect taxes,
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but what it will do is it will make them pay attention to
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things like the Laffer Curve. We're if the rate of Taxation is
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set correctly, no one will jet to paying taxes.
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And in fact the amount of Revenue that the state makes
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goes up. So this is a proven fact.
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So this won't necessarily destroy the state or completely
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stop it from being able to harass people.
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What it will do is it'll make the be reasonable, you'll
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persuade them to be reasonable. And in fact, we better for them
5:09
because they will gain More reference to attract more
5:13
revenues because people won't be bothered to try and
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quote-unquote cheat even though they're not cheating.
5:20
Yeah, and so, in within, so in this is actually really
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interesting topic, right? The, do you think that it was a
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coincidence that when the Central Bank of the United
5:32
States was introduced, right? In 1913 was also the same year
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that they introduced the federal income tax, do you?
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I think that's a coincidence and what are your, what are your
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thoughts about this progressive tax system that we have today?
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Because I fundamentally agree with you.
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It's almost as if the most successful and productive,
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people in society are being punished for their productivity.
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I don't think punishes the correct word that they're having
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more of their money stolen from them and that's whether or not
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it was a coincidence or not. It's highly unlikely.
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Was a coincidence. These things cannot be a
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coincidence. The left hand knows what the
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right hand is doing and when we get gets to that level and so
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those two things were Pearl be cooked up at the same time and
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that's why they emerged at the same time, the system is
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fundamentally corrupt. I think it was Andrew Jackson.
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Last words were I killed the bank so fundamental problem with
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this isn't. So terribly important that it
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was his last word so inept. And she've anybody other than
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Ron Paul who sees it as a problem.
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Some other system that doesn't need to be explained to, the
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people needs to be put in place that will cause the effect of
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the Fiat dollar being destroyed by dint of his existence.
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And this is exactly what Bitcoin was designed to do.
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And what it does is harnesses, people's need for efficiency and
7:05
transparency, and ease-of-use know that business.
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And then the side effect is The elimination of fear because the
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vast majority, people even ones that claim to be educated, don't
7:18
know about the nature of money. And in fact, many of the Bitcoin
7:21
as you read about today, didn't know up, that there was even a
7:25
problem with the money until Bitcoin came along and showed
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them that there was a problem with it.
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Then they learned about the Austrian School which they never
7:33
heard of. And then all of a sudden the the
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fundamental underpinning of their ideas about money was
7:38
removed and they became hard. Quote Bitcoin is because they've
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been lied to and nobody likes to be lied to.
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So that's the, the the true, that's my opinion about what
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happened with the introduction of the Federal Reserve, and the
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income of the federal income tax, that it happened.
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The same time by Design with the small cabal of people who
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effectively run everything. So in the very beginning we
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were, we were talking about, you know, Bitcoin inevitably winning
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and I kind of want to go back. To and I completely agree with
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you. I think you said it perfectly,
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it's not necessarily that the state's power comes from the
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Monopoly on the issuance of money itself.
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But it comes from the Monopoly on violence, right?
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And the, but at the same time, right?
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The ability for the state, have this money.
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Printer also allows them you know and as in the case in the
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US were Joe Biden, basically hired 87,000 more tax collector,
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Hers or you know however which way you want to see it clearly
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and and I'm referencing my mind right?
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A lot of the theories written in the book.
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The sovereign individual. I think if Bitcoin wins.
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I think it's a fundamental. It's a fundamental power threat
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to that ability that privilege and there's a huge bureaucracy
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at I heard it the other day. I think it was on Tucker that
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the United States government is the number one employer in the
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world. World, right?
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You have this bureaucracy that's funded by that money printer and
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Bitcoin is a fundamental threat to that.
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Why are you know, I hesitate 30 dropped out I hesitate to call
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it a threat because really Bitcoin isn't a threat.
9:28
Bitcoin is a boon, it's a boon to the federal government, it's
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a boon to everybody, the efficiency that's going to bring
9:34
to the market and to the United States will be a net benefit to
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the United States. And if the if the United States
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accepts Bitcoin, entrepreneurialism, it will
9:44
allow those entrepreneurs and businesses to Route money
9:49
through the United. It's bringing in a huge windfall
9:52
of taxes. So even though it might seem on
9:55
the surface to be adversarial to the United States, it's actually
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not if the correct attitude is taken from the beginning and I
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think that's what needs to be put across.
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Not that Bitcoin too dangerous. Not the Bitcoins, a threat that
10:08
it's actually super useful. Super beneficial to the American
10:12
government. If it takes its proper
10:15
constitutional posture and acts as a public servant, And as for
10:20
the, the legions of people being released to extract the blood of
10:29
the of the American people, what Bitcoin will do.
10:34
Once again is impose a discipline on everyone, the
10:40
government and non-government as well.
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So that everybody serves each other.
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The American government in its original smaller form was a sir
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Servant of the people and it can return to being that.
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Also, but it, but it cannot do is print money to create a
10:57
distorted economy that distorted country where there is excess
11:02
money essentially from nowhere to spend on threatening people
11:07
and other kinds of things which are non-economic reduction.
11:11
Nobody wants except for a small number of lobbyists.
11:14
So this is the true advantage and the true opportunity that
11:19
Bitcoin brings to your eyes. It's it, will restore order
11:22
economic order to the United States, restore, a government.
11:26
That is the servant of the people, not the master of the
11:29
people, and I think that's a very reasonable goal to go for.
11:33
It's not going to hurt the United States on the contrary,
11:36
it's going to be a huge advantage to the United States
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because it's one of the few countries that has the
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wherewithal and the get up and go to do things like flying to
11:47
the moon. So I think America if it
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Embraces Bitcoin is going to see an economic boom, the likes of
11:54
which has never been seen on Earth.
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And this is why they absolutely must do that.
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Also to stop Americans from going to other jurisdictions to
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bring that big coin magic to those jurisdictions.
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And as you know, El Salvador is now the number one country on
12:11
Earth for Bitcoin in terms of how they're approaching it and
12:15
their plans for the future and it's very easy to see a couple
12:19
of steps into the future where all the entrepreneurs that are
12:23
in Bitcoin, which is going to be the global money or are all
12:26
situated in Salvador, in San Salvador, the capital so, For
12:32
Americans, this is not a ideal situation but it absolutely is
12:36
going to happen. And during my trip to El
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Salvador, I met people from Denmark, from Sweden, from the
12:43
United States. All living recently moved to El
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Salvador because of what's happening there with Bitcoin.
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So that's a very, very big deal and it's something people should
12:53
be paying attention to because they're going to win.
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And of course I don't have a problem with them winning the
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good guys. I have to win.
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And if these guys are the good guys, then they're going to win
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the two. Simple as that.
13:07
Should America. And my rooting for America?
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Well, yes, I am rooting for America but if they refuse, they
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refuse to be the good guys. If they insist on doubling down
13:17
on the, on being the bad guys. Well then, the money's going to
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go to the place where it needs to be.
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Yeah. And and and that's another thing
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that I kind of Riff on. I want to Riff on.
13:31
Beauty on because like, unfortunately the way from the
13:35
way that I'm seeing it and I'm in this weird, you know, you can
13:38
call it privilege because you know, I make money having to
13:43
talk about Bitcoin or at least cover what is happening about
13:46
Bitcoin every single day and because of that privileged
13:49
position, I am seeing the slow motion push back by the
13:56
administrative state in the United States.
13:58
And I fundamentally believe that this straight of state has
14:02
captured the American people in a way.
14:05
Right? We have we have Gone so far away
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from the original vision of, you know small government in the
14:15
United States. The Constitution it was it was
14:19
so well written that, it still keeps them someone in check but
14:23
still man there it's like every single day they just take
14:27
another chip at it and what hurts me and what would it
14:31
doesn't make me so optimistic on a developed country.
14:35
Like the u.s. is there? Send moves specifically by the
14:40
US Treasury Office of foreign assets control to kind of set a
14:44
precedent and Sands and sensor open source software, right?
14:50
They did that and I think that was sending a clear message and
14:54
the reason that I believe they did that is because Bitcoin is a
14:58
threat to us sanctions policy and because the, the u.s. is the
15:03
global Reserve currency, right? It's able to have colors the US
15:07
dollar. I apologize.
15:08
Has the u.s. dollars the global Reserve currency, its able to
15:12
weaponize the dollar, and that gives the bureaucratic State,
15:16
the administrative State, tremendous amount of power in
15:18
DC. So, I, I have trouble seeing
15:24
them willingly, give up that type of power, and that's kind
15:29
of where I'm hung up on. Well, I think if you're going to
15:32
be hung up on something, he took to hang the phone up for real
15:35
because we need to look History beyond the last 10 years.
15:42
That's very important. During the era of the Soviet
15:45
Union. It was a student by everybody
15:48
that this situation would never change.
15:51
They would always be a USSR. It would always be an enemy of
15:55
the United States and then one day everybody woke up and leave
15:58
us a song. It was just gone so this can
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happen in your lifetime. It can happen that the dollar
16:07
ceases to The, the global Reserve currency of the world,
16:10
and it's very easy to imagine this happening because if bricks
16:15
and all of these Central America and South America, and the
16:19
states of the west coast of Africa, all decide to settle on
16:23
bitcoin, then all of a sudden you have at the very minimum a
16:26
multi polar currency world where the dollar isn't the center of
16:31
it anymore. And we must also remember, this
16:34
is a matter of numbers is 330 million.
16:38
Ands and 7 billion people on Earth.
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If those seven billion, people excluding all the Americans are
16:46
using Bitcoin. This is orders of magnitude
16:49
bigger than the United States. And so it all the things you're
16:54
citing are important to you because you are an American
16:57
living where you live, and that's their germane to you.
17:02
They pertain to you. But other people who live in
17:05
other countries, don't know anything about Ofac or anything
17:09
else and those those three letter for letter agencies don't
17:14
have jurisdiction outside of the United States.
17:16
So, not only does people not know who they are or what they
17:20
do, but they don't care if they find out because they don't have
17:24
jurisdiction in countries like El, Salvador in Nigeria, and
17:27
always other places. So, it's very important when we
17:30
talk about a Global Network, like the internet and like the
17:36
Bitcoin Network to It from the position of a global citizen or
17:41
not Global citizen, but somebody who's not from one particular
17:45
country, America is only one country out of many countries is
17:50
one jurisdiction. There's they're sealed inside
17:53
their jurisdiction and so, are the agencies that work there and
17:57
they cannot stop, El Salvador, for example, from making Bitcoin
18:02
legal tender, or Saudi Arabia, or Nigeria, or Brazil, or Or any
18:08
of these other countries and if enough of these countries do
18:12
that and of course they are incentivized to do it then the
18:16
magic of Bitcoin will happen. So it's very important not to
18:21
look at Bitcoin through the kitchen roll tube, at just one
18:26
thing it's a global phenomenon to Global Network.
18:29
Literally anyone anywhere can join it and use it and if that's
18:34
true which of course it is, it means that no single Country can
18:40
dominate it and exert control over the users.
18:44
So the United States has a sanction regime.
18:47
Well, they're entitled to do that sovereign country but
18:50
nobody else on Earth has to follow it.
18:53
And I think this is very important to understand.
18:56
America is a great country but it's not the boss of the world
19:00
and once people stop using the dollar, then that's going to
19:04
become even more true than it is now.
19:06
So when we talk about Bitcoins, Oughtn't to understand what
19:10
jurisdiction means to understand, how many people are
19:13
there. How many we were outside United
19:15
States and what that actually means in terms of Bitcoin
19:19
adoption and the result of Bitcoin adoption so and I agree,
19:26
right? And I think jurisdictional
19:27
Arbitrage is going to play a key role and even for American
19:32
citizens if they go down this dark path, right?
19:35
You know you're going to be able to bitcoin gives you the power
19:37
to not only The vote with your wallet but also your feet.
19:41
Right. I've heard amazing stories of
19:43
Venezuelans. Escaping Venezuela fleeing to,
19:46
you know, Spain, for example, in the only thing that they were
19:49
able to take with them was their Bitcoin because they were able
19:51
to take their seed with them. So, I agree, I think judicial
19:54
Arbitrage is going to play a major role but so perhaps the
20:00
official three-letter agencies, you know, are somewhat confined
20:06
but what the US has been using really Lee since early late,
20:10
early 50s, late 40s has been using.
20:14
They've been using the guise of these International
20:17
organizations. Like, for example, the United
20:20
Nations, the World Bank, the IMF, and what was really
20:24
striking to me was the fact that the IMF when they build at
20:28
Argentina. Once again, one of the
20:30
stipulations was, you must stop. You know that you must.
20:35
Do you incentivize the adoption of Bitcoin with in there?
20:38
Within your country in order to receive that bailout.
20:42
So perhaps there isn't direct direct influence with the United
20:47
States but look where is the IMF headquartered Washington d.c.?
20:51
That's not supposed to think about this very carefully and
20:55
easy to go down the route of believing, that the American
20:59
government is omnipotent and it absolutely is not even in the,
21:04
the context of the United Nations, which you mentioned the
21:06
security Council doesn't always As go the way that the American
21:09
government wanted to go. So the it's not an impenetrable,
21:16
an impenetrable Fortress, where only, what America wants is the
21:20
result and he must remember also that Bitcoin isn't about these
21:25
big institutions, whether the UN or the ofac or anything else
21:29
like that, it's about individuals using Bitcoin and we
21:34
need to look at the software piracy as an analog to To how
21:39
Bitcoin can spread throughout the economy software piracy,
21:42
they've been trying to stop it for over 20 years and they've
21:45
absolutely failed to do it. And there are no huge
21:49
organizations doing the software piracy to distribution is all
21:53
done, peer-to-peer by individuals, and it's never
21:55
stopped, and it's a huge, absolutely huge economy if you
22:00
want to give it a little weird like that globally.
22:02
So it's very important to think about what it is exactly what
22:06
dealing with, which is, A computer network that anybody
22:10
can join. Literally, anybody can join and
22:13
which is not restricted to geographically so people can
22:18
beat their chests. All their like, they can't stop
22:22
piracy. They can't stop Bitcoin.
22:24
And in the end, they will have the only choice still have is to
22:28
come along with something that's better than Bitcoin.
22:32
And in the case of hyper partisan approach requires a
22:35
movie. Piracy it's the Apple ecosystem.
22:38
Somewhere. It's very, very inexpensive to
22:41
buy a song on iTunes now because they priced like a 99 Cents or
22:47
whatever it is. And so in an economy like that,
22:50
it makes much more sense to just pay 99 cents to get this music
22:56
trial, rather than to hunt all over and get torrents of things.
22:59
Like the, it's just you know, dudes, it's a hassle.
23:03
But when music was first digitized the music companies
23:07
tried to I charged the same money that they were charging
23:11
for CDs and albums but only digitally was only much later
23:15
that Apple cracked the code as it were and realize that you
23:19
have to charge only pennies for a track in order to get
23:23
everybody to download and not pirate music.
23:27
And that's when the floodgates open and that's how I till
23:29
became such a huge phenomenon and Spotify and all those other
23:32
things. Of course, the artists have been
23:33
completed the not getting enough money.
23:35
But, you know, in the in when the The refrigerator placed the
23:39
Ice Man, the Iceman lost. And now these recording artists
23:43
are quote, unquote losing even though that gaining super
23:47
distribution. So this is the way you need to
23:48
think about Bitcoin and to not put it in the not think only
23:53
about the negative things that can happen.
23:55
But to think about the history of software that the history of
23:58
software distribution and how it can be done peer-to-peer without
24:02
a company and reach the entire world only.
24:05
Now it stopped talking about where's or movies, we're talking
24:07
about. Money, synthetic money, that is.
24:11
And so the same forces that spread wears all over the world
24:15
everyday, like a right now. There's the World Cups World
24:18
Cups on their many. Many parted streams all over the
24:21
Internet. They're very, very easy to find.
24:23
So the same thing is going to happen with Bitcoin.
24:26
It can't be stopped. That's the way to think about
24:28
it. And we should be thinking about
24:30
what tools and services we need to build and deploy to make this
24:34
magic happen. And for example on Ubuntu.
24:37
There's a thing called All this is, is a tool called
24:40
transmission, which people use for tardiness install with every
24:44
copy of 12 and every copy of will do, should come with a
24:48
Bitcoin wallet. That's the kind of thing we need
24:50
to be thinking about and talking about, not about these threats
24:54
from the minority government of the world that can't actually
24:57
stop. Not only the software piracy but
25:00
Bitcoin they can't stop at. They can make a lot of noise,
25:03
right bills at the Loomis Gaillard Bill and try to, you
25:07
know, frighten anybody. But it's not Going to work.
25:09
It didn't work to stop software piracy.
25:11
It's not going to work to stop Bitcoin because Bitcoin is too
25:15
good to be stopped. Once everybody gets a taste of
25:19
it, they'll never go back to feel tools ever again, and this
25:22
is happening. And you can see this happening
25:24
in places like Lebanon where Bitcoin is starting to grow
25:28
exponentially because their system is collapsing there.
25:30
So it's a good idea to keep your eye on the the facts of this,
25:37
this problem, which is a half Get Bitcoin into the hands of
25:40
people and the American government once again to repeat
25:43
myself is not an important. It's not omniscient either and
25:47
they cannot win against everybody on Earth.
25:51
Yeah no and I agree and so and I agreed that the analogy of this
25:58
is a great analogy. The analogy about software
26:01
privacy. You know, was LimeWire they try
26:04
to every, they tried everything and this thing wouldn't go away.
26:07
There was no No more metaphorical head to chop off,
26:10
and I think that's the case with Bitcoin.
26:12
However, Beauty on, you are a big Advocate and we've been
26:16
based on your advice. Of course, we've been not every
26:19
episode but we've been trying to get into the hip habitual or
26:23
habit into every time we preach self custody opt he's been
26:27
pretty good at it. At also recommending which
26:30
wallets to download a lot of these wallets are mobile wallets
26:34
and we know for a fact that you know the vast majority E of
26:39
operating systems that people are using on their cell phones,
26:42
is either iOS or Android and both, those app stores are
26:47
heavily controlled by Apple and by Google, which means they can
26:52
and could potentially be co-opted by government, right?
26:55
Does that worry you at all? Is going to be That's also a
27:02
possibility. It's very important to
27:05
understand that the positive outcome is also probable.
27:10
The question is, how probable is it?
27:13
And it's more probable. If there's a billion people
27:16
using Bitcoin wallets and it's absolutely normalized.
27:19
When we started Azteca, when I started as the go back in the
27:24
2014 ish. I ran a pop-up store in goulston
27:28
Street to test whether or not the Proposition was
27:32
understandable by the public and during that test block.
27:37
Blockchain.info, those wallet was removed from the Apple,
27:41
iTunes Store, the Apple App Store, and I used to give, I
27:45
used to point people to that, that app in the store, to show
27:51
them, a very simple war. That could be use to redeem, a
27:56
TECO voucher on the spot. And, of course, when that went
27:59
away, I didn't have a go-to wallet.
28:02
More. This is very early days and it
28:04
was very, very frustrating but that's super unlikely to happen.
28:08
Now, and it will be even less likely if there's billions of
28:13
people all downloading these apps globally it when it's
28:18
completely normal. And it's, it's an ordinary
28:21
occurrence. It's not going to be seen as a
28:24
problem in the same way. Uber is available on the
28:29
Android. Android was the Google Play
28:33
store and on the Apple iTunes store and this is in the face of
28:39
massive opposition from taxi companies in many jurisdictions.
28:44
Nobody can conceive that the Uber app would be removed from
28:48
other one of these stores because some taxi Union is wants
28:52
to wants to have the Monopoly on taxis restored.
28:56
So, the key here is mass dissemination of Wallets every
29:03
single found, every single operating system should come
29:06
with the wallet out of the box that you can just turn on, put
29:10
your seed phrase in and get your money up and running.
29:13
And when this happens, the likelihood of the amenities App
29:18
Store turning off a wallet or all Bitcoin wallets will be
29:22
vastly reduced the way to think about.
29:25
This is to think about what steps we can take to mitigate
29:30
the possibility that What you just described which would be a
29:33
total disaster. What you just described from
29:36
happening and that's the way to think about it.
29:39
If there is some - possible outcome, it can be ameliorated
29:44
and worked around before it ever happens.
29:47
If we sit down and think about it first.
29:50
Yeah, amen. Amen.
29:51
I, wow, I really, and I think Opti wrote this in the chat.
29:55
I really appreciate Beauty ons, optimism.
29:59
It's definitely a fresh of Definitely fresh of breath air,
30:04
whatever that expression is I'm, is that how it goes anyways, I
30:10
appreciate it, but this is what I'm saying.
30:16
Optimistic was it just true? Now it's true.
30:19
Some sun is going to come up tomorrow.
30:21
Is that me being optimistic or saying something that's just
30:24
true? No, it's just true.
30:26
So but let's talk about which I, you know, because we were for
30:31
the first 20 30 minutes or talking about, you know,
30:33
potential nation-state attacks. You know, all these attack.
30:36
Vectors. Now let's talk about, let's use
30:39
the rest of the half hour Beauty on as to why Bitcoin winning is
30:44
inevitable. Why, why is this thing gonna win
30:47
versus anything that they can is?
30:51
The way that I see it? Of course is they're always
30:53
going to their money is always there.
30:55
Always gonna want to base it and they're always going to want to
30:57
censor it and that's just a matter of fact, right?
31:00
So why do? I think Victory is inevitable.
31:04
Why do you think Bitcoin Victory is inevitable?
31:06
And then I will talk about what this type of future will look
31:11
like, which I'm really looking forward to that part of the
31:14
conversation. Okay, well, it is inevitable
31:17
that Bitcoin is going to win because it is impossible to look
31:21
to win without launching something.
31:23
That's better than Bitcoin. Now, of course, people who know
31:25
their history will say, well, well, the Macintosh first
31:28
appeared the windows and, you know, it windows One for the
31:33
short term. But in the long term, the Apple
31:35
has won this battle absolutely 100 percent so it's not possible
31:41
given what we've already heard about these CD b c designs by
31:45
the Kingpin. And all these other people that
31:48
they're going to be rich, come with restrictions out of the box
31:51
that they're going to be able to control what you can spend or
31:54
not. Spend on Vin a very fine grained
31:56
way, nobody with the CDC app and Whoa whoa santoshi or Samurai
32:04
wallet next to that app is going to pick the CDC at.
32:08
They're not going to do it because especially people from
32:11
the diet spores and the third world who want to send and
32:14
receive money as they want. They're not going to accept it
32:17
and also Bitcoin is global out of the box.
32:22
The French will have their own while the EU will have their own
32:25
CDC. The Americans will have their
32:27
own one. The Nigerians are even trying to
32:29
do one which they bought off the shelf from someone's no doubt
32:32
and all of them are not interoperable.
32:35
Whereas Bitcoin is interoperable globally.
32:38
Everybody can use it to anyone and from anyone on the, in the
32:43
entire world at any amount also without permission.
32:47
So it's you're not going to have the, the the situation where you
32:52
go to buy yourself a second-hand car and the government says, no,
32:56
you can't buy this car because there's a block on your account.
33:00
There are no accounts. In Bitcoin, you can buy whatever
33:03
you want, sell whatever you want to receive whatever you want,
33:07
any amount you want, and nobody can stop it.
33:10
So, in the face of a compelling sales pitch like that, nobody's
33:17
going to accept a CD BC, they're not.
33:20
And every time they tried to promote the cdc's, they're going
33:24
to be talking about it either directly or tangentially talking
33:27
about Bitcoin directly or tangentially.
33:30
And this will only Lee, promote Bitcoin and get people to
33:34
understand that. Wait a minute, there's this
33:36
other thing called Bitcoin, which is instantaneous Global
33:39
and without any restrictions, and if you're, you know, even if
33:43
you're not careful, nobody really knows what you're doing.
33:44
Because nobody knows who's who on bitcoin.
33:47
This is an extremely compelling offer that the free market is
33:54
offering everybody and it against would put up against
33:59
cdc's Bitcoin through. Lashes it like the redheaded
34:03
stepchild. So I really not too worried
34:07
about cbc's as long as we can get wallets into everybody's
34:11
hands, and by doing so, immunize them against this, this threat.
34:18
You know what it starches me is? That this Carstairs Kingpin
34:22
thinks. He's selling cbc's by describing
34:26
how everybody's money can be controlled.
34:29
Do you mean to tell me that after the covid?
34:32
Hoax and everything else. People being controlled and told
34:36
where they can go where they cannot go, that they're going to
34:38
want something like that. It's a very interesting
34:43
proposition and I'm very much like to see how they're going to
34:46
promote this to the public, but sort of TV commercials print ads
34:50
and everything else, what sort of language they're going to use
34:53
because that's going to be an indication of how perhaps
34:58
bitcoiners need to talk about encounter this narrative that
35:01
they're Be going to put out and no amount of advertising can
35:07
stop Bitcoin. Well count to bitcoin
35:10
advertising. And we know this once again from
35:13
the history of piracy, they were huge ad campaigns against
35:17
software piracy when it was when they still believed, they could
35:21
stop it and none of it worked. Absolutely not at what all it
35:25
did was inform people here. Wait a minute.
35:27
Do you mean to tell me I can get with free on the internet?
35:29
How does that even work? They go to Google, they found
35:32
the heart works and all of a sudden, they can get all the
35:35
American TV shows before they come out anywhere else in the
35:38
world for nothing. So, if they try and advertise
35:42
against Bitcoin, Bill Point people to bitcoin, they'll be
35:46
able to get the wallet, get a little bit of Bitcoin from, you
35:49
know, where and then all of a sudden, they're on the global
35:52
Network. And once you've tasted Bitcoin,
35:56
you will never go back to a CDC. It's not possible when you
36:00
download a Bitcoin. Wallet one, that's properly
36:03
written. By the way, you don't have to
36:06
sign up, you don't have to give your name.
36:08
You don't have to give your email address, it just starts
36:10
working immediately. And when you're next sit next to
36:14
somebody said, well just get walls, push-ups on your tenpin
36:16
dollars, you can just loops and that's $10, just like that.
36:19
And the CDC will not work like that.
36:22
If you got a Nigerian sitting next to a Canadian and both of
36:26
them have a CDC from the respective countries, they won't
36:29
be able to send naira to Somebody who has a Canadian
36:33
dollar CBC wallet, it won't work like that, whereas Bitcoin will
36:38
work like that. And that is another thing that
36:41
will be coil due to bring people from different parts of the
36:44
world together on this one network where everybody has the
36:48
same, everybody has the same rights.
36:51
It's not Canadians with vs. Nigeria stuff.
36:53
America's work versus night ghanaians.
36:56
Everybody's on the same network. Everybody has the same rights
36:59
and this is good for you. Humanity, as a thing and shows
37:05
how cbc's separate people in the same way that the passports
37:11
nation-states, everything, separate people and pit them
37:13
against each other. So Bitcoin is good for society.
37:17
Bitcoin is good for mankind and that's why it should be adopted
37:22
in on top of everything else. Absolutely not.
37:26
That was that was that was beautiful but you mentioned
37:30
something in there, that, that was quite interesting, right?
37:33
You said if we can get wallets into people's hands and my
37:37
interpretation of that Beauty on, is this sounds like to me we
37:42
this is a race for adoption. We need we need Bitcoin to be
37:47
adopted by individuals and I've tweeted this out right?
37:50
I'm more optimistic on developing Trees because they're
37:55
adopting Bitcoin out of necessity versus individuals in
38:00
developed countries that perhaps they're adopting Bitcoin for
38:04
more speculative reasons rather than, you know, I have to look
38:09
if I'm in Venezuela if I'm in Argentina and I have
38:13
double-digit inflation, it's about whether I could put food
38:16
on the table, you know, and that's a whole different and
38:19
then at that point, whatever propaganda, the government
38:21
releases. It's like, you're not going to
38:23
listen to the guy on TV. TV, when there's double-digit
38:26
inflation, right? How about this?
38:33
I've no idea what percentage it's over million people over a
38:38
million people in the United States, are unbanked.
38:41
It's definitely over a million people in Britain that are
38:43
unbanked and even when you take the people who are banked, who
38:49
want to send and receive money abroad, they have to pay through
38:52
the nose to do it. So people in the west have this
38:56
idea that westerners because it's so quote-unquote
39:00
privileged, and they have access to all kinds of things.
39:02
Two rails. Actually the rails they have
39:04
access to our Rusty, they're Rusty, they're slow, they're
39:09
invasive and they're not very good at all.
39:12
Bitcoin is a clean. Shiny iridescent Financial rail
39:20
that spans the entire world and it's much better than all the
39:24
tools that you have in the west. And so if we just take the, the
39:28
unbanked people and the underbanked people in the As to
39:33
get them all on to bitcoin, this is would be a great Boon for
39:36
them. A great help for them.
39:38
And so this idea that westerners don't have the same need for
39:43
Bitcoin, like the Venezuelans, which is a country, people keep
39:46
bringing up over and over and over again.
39:49
This is actually not true. The need for Mint coin is just
39:52
as strong in the so-called privilege West as it is in
39:56
Venezuela because the money of the American is being inflated
40:02
away, A just like the money in Venezuela in Nigeria and all
40:06
these other places. Now the the statutory I think
40:10
that's the correct word rate of inflation in these Western
40:14
countries is meant to be 2%, but we know it's much much more than
40:18
that and that money is being stolen.
40:20
From the American people, the British people injuring people
40:23
just as it being stolen from the Venezuelan.
40:25
People only in their case it's more visible because the
40:28
hyperinflation is at an accelerated rate.
40:32
But the Theft nonetheless. And so westerners have the same
40:37
right to protect themselves from theft as anybody else does.
40:41
And that's what they should be using Bitcoin to do to stop
40:43
their money being stolen behind their backs.
40:46
So you do get people who use Bitcoin for speculation.
40:51
There's nothing wrong with that. That's what in a free market.
40:52
People going to use things for all kinds of different reasons.
40:55
But the general, the general population of all of these
40:59
countries needs Bitcoin to have their right to keep their money
41:05
preserved so that they don't get their money stolen from them
41:09
behind their backs. And, of course, most of these
41:11
people don't even know it's happening because they don't
41:13
know what Fiat money is. They haven't read any rothbard,
41:16
they do anything about how Fiat money Works, they just think
41:19
that's the way it is but when Bitcoin is put into their hands,
41:24
the power of money that's not being inflated away is there's
41:29
by default and the effects of that will be filled by them.
41:33
As it becomes the default money of the West.
41:37
And so we need to not think too much about the privileged youth
41:43
case for hate using that word, but that the privileged use
41:46
cases and that westerners only use Bitcoin for speculation.
41:50
That's not true, they need protection.
41:52
Just like everybody else does. So, in again, Beauty on that.
41:58
You come on here man. And you I really appreciate it
42:01
because you you're expanding my thinking, you're changing my
42:04
perspective on charging you. So I have a question for you
42:12
though, right? Which is the ideal inflation
42:15
rate that is advertised in in the west, right?
42:21
And they and I love the way that they described inflation as if
42:24
As if it's some distance, natural phenomenon, and even
42:27
with the ideal inflation rate of 2%, even saw Donald Trump
42:31
saying, well, you know, and is like speeches.
42:33
Like I had it at one percent, but one percent is still one
42:36
percent theft, right? So their argument would be if
42:40
there wasn't inflation in the currency, people would not be
42:45
incentivized to spend. Well that's that's that's the
42:50
argument of keynesianism and we could argue as Ron Paul Been
42:54
arguing and the austrians, Bob Murphy and Lew Rockwell want.
42:58
People have been arguing to live blue in the face.
43:01
That keynesianism is fundamentally wrong and Austrian
43:05
ism is actually correct. So, now with Bitcoin, we don't
43:09
have to argue about this anymore.
43:12
All we have to do is deploy it into the economy and watch
43:17
Austrian ISM be proven to be true.
43:20
That's what Bitcoin is actually for when it comes to the MC, the
43:25
theory part of it. So that's all that has to be
43:27
done. We can now prove the Austrian
43:29
ism is correct simply by releasing wallet into the world
43:33
to billions of people. And once that happens and people
43:36
prefer sound money to unsound money, which is Fiat.
43:40
Then the case for ostracism will be made true.
43:43
And this is not something that we need to ask permission to run
43:48
the experiment on, it's just going to be run.
43:51
That's all there is to it and it's going to be run because
43:54
it's The Bitcoin itself is super efficient, super convenient and
43:59
I've just come back from El Salvador.
44:01
I don't have a fantastic time down.
44:02
There is the most amazing country and I bought a bottle of
44:06
water, had a gas station with water.
44:10
So she playing with Bitcoin is the most incredible thing and
44:14
the people behind the counter saying Bitcoin, no problem
44:17
because down there is normal. So if you want to see what the
44:20
future is going to look like with the world is running a
44:23
Bitcoin, get Yourself to San Salvador and spend the weekend
44:27
there. A couple of days there you will
44:29
be absolutely shocked. Everybody is using Bitcoin, it's
44:34
just absolutely incredible. Now, of course, they haven't
44:37
reached full saturation there, it's taking time to do that.
44:41
But in San Salvador, you can use Bitcoin, literally everywhere.
44:46
So this is what has to happen to stop the LIE of The inflation of
44:54
the money supply being necessary to have an economy where things
45:00
are flowing. Economies strong.
45:03
Economies are based on savings, not on money, flowing around.
45:07
And so the fundamental idea behind Fiat has been broken and
45:11
it has not been able to be challenged because there's
45:14
nothing like Bitcoin to force it to be challenged, you can make
45:18
the argument to the state that the money supply should be
45:22
constrained. But they need the money supply
45:25
to expand so they can steal the spending power from all the
45:30
people who use the dollar. They're not going to just turn
45:32
that off. Because somebody from the
45:34
Austrian School of Economics said, this is a bad idea.
45:37
They need this money, the cronies need this money and
45:41
they're not going to turn it off.
45:43
So some very clever person sat down at a computer terminal and
45:47
rope Bitcoin and released it for nothing and now it's spread all
45:52
over the world and all Ostracism is going to be proved through
45:55
this single piece of software who loses in that situation and
46:00
nobody who wish nobody loses everybody wins.
46:03
People who think calm down people who think that.
46:07
Oh no don't calm down. Yeah hard hard people who think
46:17
that Fiat money is necessary. Some of them are actually
46:20
believe that but it's not true. Everybody will win when Bitcoin
46:26
is the only money. When Worlds return to sound
46:30
money, people will be incentivized to save and not
46:36
spend all investment will come from a saving, not from
46:39
borrowing. And if you want to learn about
46:42
how all the Austrian School of Economics, Works need to read
46:45
Murray rothbard and those kinds of economists to find out how it
46:50
actually works. So even if It's like the movie
46:55
with Arnold Schwarzenegger. What's it called?
46:59
The reason Mars and they're frightened.
47:02
Yes, I'm talking about. You made it.
47:04
They made a remake also very good, but
47:21
Total Recall. And actually, the machine will
47:29
make Mars habitable and Bitcoin is exactly the same thing.
47:32
There are people like Co Hagan who runs the government of Mars,
47:37
and who doesn't care about anybody that has to turn the air
47:40
off. I couldn't care less let him
47:41
die. These people are the people
47:44
behind Fiat and the people who are behind Bitcoin, want to turn
47:49
to 2 billion machine on release the atmosphere.
47:53
That's frozen under the ice so that Mars could be habitable.
47:57
Then we're going to do is put your hand on it and then the
47:59
thing will be turned on. And so the end of that movie is
48:03
the situation that we're in, now where people are frightened
48:07
about Bitcoin, they shouldn't be frightened about it, will it
48:10
cause a very dramatic You know, blue sky cloud as part of the
48:15
ground. Yes, it'll be very dramatic, but
48:18
it will happen over many years. It will be a controlled decline
48:23
from the Fiat world to the Bitcoin world.
48:28
And it be a manage decline from a bad system to good system,
48:32
where the the world we weaned off the teat of Fiat and on to
48:38
the teeth of Bitcoin, which we won't rot the teeth.
48:43
Make you overweight and give you diabetes and everything else.
48:46
Will be very, very, very good for the entire world economy.
48:50
So you and I fundamentally agree with that.
48:54
I agree. But you did mention that like a
48:58
drug, I like a drug addict. You know, that cold turkey.
49:03
Weaning off that fake Monopoly money, right?
49:07
That has no cost to create right?
49:12
That's going to be a tough pill to swallow for some people isn't
49:14
it. Well, you know, tough medicine
49:19
is medicine. And at the end, it will be good
49:24
for everybody. And once again, the analogy of
49:26
the lake ice, delivery people who ran who were put out of
49:31
business, where's a small price to pay for everybody, having a
49:36
refrigerator in their home right now.
49:38
The people who are making money of the Fiat system is a
49:41
Vanishingly small percentage of the number of people on Earth
49:47
and anybody who's worrying about them.
49:50
Over the 7 billion people on earth, needs to look very
49:55
carefully at their priorities and what they feel is important.
49:59
So if the price of everybody going to sound money where
50:05
everybody saves money, instead of spending it, and many of the
50:08
other problems that come to do with the consumer Society or
50:12
Anybody who thinks that the small cabal of people who are
50:16
running the field system are more important than everybody
50:19
else on Earth. I think you need to reassess
50:23
your ideas of right and wrong and that's another thing too.
50:25
Busy to nothing about what Bitcoin is going to do.
50:27
When it abolishes the consumer Society, the amount of waste
50:33
that is produced in every economy will be vastly greatly
50:38
diminished. So Bitcoin solves, many problems
50:41
or All at once, not only just for the convenience, the
50:46
introduction of sound money and all those other things.
50:48
But the side effects on everybody, in the in the
50:51
economy, in the world, economy will be hugely beneficial from
50:54
the environment and all places that we can't even begin to
50:58
imagine. And the none of them is the
51:02
billions of people who can't participate in e-commerce
51:06
because they have no access to financial rails.
51:09
That's another great. Source of economic expansion
51:15
that nobody's considering when they talk about Bitcoin and this
51:18
is all doable all through mobile phones.
51:21
And of course there's this new match and correct 8333 service,
51:25
which allows people who don't have smartphones to use Bitcoin.
51:29
Meaning that the 500 million people who are not on
51:32
smartphones, will all have access to bitcoin and to
51:35
e-commerce, this is a big deal. It's a good deal for everybody.
51:40
And there is no No, good argument against it, amen.
51:45
To that beauty. And so I want to use the last,
51:48
you know, 10, 10, 15 minutes that we have left.
51:51
And I want to talk about and it's something that I brought up
51:54
to Eric Cassandra had on earlier, on, in the week.
52:00
There are certain political ideologies and just political
52:04
parties that are based on effective.
52:09
Wealth, redistribution mechanisms, not only through
52:13
effective taxation, right? But also the most Insidious tax,
52:18
which is the hidden tax, which is inflation.
52:22
I do not think that those political ideologies
52:27
specifically collectivist ideologies are Been viable in a
52:32
underworld with a Bitcoin standard.
52:34
So what are your thoughts on that?
52:36
Well, that's exactly right. Socialism will be abolished by
52:39
Bitcoin, and the Socialist will cry white about it.
52:44
But the like very focused and all these people, they're
52:49
actually, they're actually rich themselves.
52:51
They preach one thing and practice, another, and you'll
52:54
find, this is true all over the world where you find socialist,
52:57
they have three or four cars houses three Or four cars, send
53:01
their children to private school and not the government school
53:03
and always kind of business. So when Bitcoin a comes into the
53:09
market, it's going to appeal to these people the same way that
53:12
appeals to everybody else, they will go out of their way to
53:15
accumulate coin. And when Bitcoins the only money
53:19
they will adjust their narratives so that Bitcoin isn't
53:23
a threat to them collecting money and becoming rich because
53:27
they all want to be rich. None of them worked.
53:30
Poor. So I'm not too worried about
53:32
these ideologies Bitcoin will come in and discipline them just
53:37
like it will discipline everybody else and that's one of
53:40
its superpowers and they won't they won't be possible for these
53:44
people to steal money from other people or even to propose
53:48
stealing money from other people.
53:49
Because everybody will know, it is not possible to tax people
53:54
more than 100 percent which is what they're doing in the Fiat
53:58
system and so there 0.2 have to dial down their Ambitions for
54:03
all of the crazy things that they want to do.
54:06
And we're going to get back to a more normal society where the
54:10
money can't come out of nowhere where I want this one actually
54:14
equals to whether you're talking about money or not and this is
54:17
the key side effect of Bitcoin where normality will be returned
54:23
to the economy and to society as well.
54:26
So what and speaking of socialism, right?
54:29
I A to be as even though I I try to be as politically neutral as
54:36
possible on this show if that's at all the face of evil is evil,
54:42
stealing is wrong, socialism is evil, and you should not be
54:47
neutral about things that are evil, that's just a fact.
54:50
So it's not something to boast, but I'm neutral when it comes to
54:53
those because they shouldn't be these evil eye, the way that I
54:57
see it Beauty on and I get this from Hayek.
55:00
Road to serfdom as I kind of frame it in the way of
55:03
individualism versus collectivism, right?
55:06
And socialism communism fascism, all those ideologies they fall
55:10
under collectivism and they require coercion.
55:14
And I think that anything that really requires coercion and
55:18
it's not a voluntary exchange is by definition evil.
55:22
So that's what I believe there. Unless, you know, of course, a
55:28
less violence is Justified right in.
55:30
Very specific circumstances, you know, perhaps you could say
55:33
self-defense, right anyways, so let's talk about, but you
55:37
brought it up. Let's talk about.
55:39
Let's go back to the socialism thing, right?
55:43
And this was Marc Moss. That brought this to the
55:45
attention him and spent ski wrote the book, right?
55:48
The Uncommon is Manifesto and it said it that the fifth tenant of
55:53
Karl Marx Communist Manifesto required.
55:57
Central Banking, right? So could you make the argument
56:01
today that the United States is a centrally planned economy?
56:06
Its it you could you can make an argument that that United States
56:10
is socialist in a way. There is no such thing as too
56:14
big to fail and capitalism. That is a that is a that is a I
56:21
don't know how to put it kindly well the word capitalism is
56:26
something that's all. So overused in capitalism there,
56:34
isn't there are no bailouts, bailouts are not possible and in
56:38
the world where Bitcoin is the only money.
56:40
Balak bailouts are also not possible.
56:43
So it's important to use these words correcting, these
56:47
definitions correctly. And one of the things that
56:50
Bitcoin is going to do is bring a discipline to government where
56:54
they won't be able to just declare something.
56:57
Big to fail and they will allow. And the economy will be allowed
57:02
to reset assets to be bought up liquidated and redistributed
57:06
efficiently. Because there isn't any Central
57:10
entity printing money to prop up losing propositions and Ron.
57:14
Paul's spoken about this about the first Great Depression where
57:19
there was no no bailing out and the market inefficiencies and
57:24
bankruptcies were cleansed out in the whole thing lasted.
57:27
Apparently just over a year whereas the the Second Great
57:31
Depression because the government was there to prop up
57:33
failing businesses, it lasted much longer.
57:35
So there will be business failures in the Bitcoin world
57:40
that we big business deals also but there will be no government
57:43
there to steal, money to prop up.
57:45
These industries that are deemed strategic by some arbitrary
57:51
little group of people. So we're going to have a much
57:54
more efficient clean up mechanism.
57:57
Those businesses that go belly-up.
58:01
So let's talk about a little bit about, you know, human nature.
58:05
And the reason that I believe a lot of these collectivist
58:10
politicians and political parties, I've been so
58:14
successful, right? And a lot of the reasons why I
58:16
believe the bailouts were politically viable, right?
58:21
And that's just because people are willing to avoid the pain or
58:26
whatever topic. Whatever it takes and they turn
58:29
to Big Daddy government in order to say, Hey, you know, rescue us
58:33
or whatever. Without really thinking about
58:35
the long-term consequences, do you?
58:37
Well, they tend to these politicians don't have to think
58:40
about the long-term consequences because somebody else is going
58:44
to clean up. The mess will be burdened with
58:45
the mesners. They know it was the last people
58:47
who did it, but what Bitcoin will do will make it impossible
58:51
for people to bail out businesses or anybody else
58:57
because They want to look, they're going to be people who
59:01
want to extend human life. For 500 years is that we want to
59:05
do this. Well, the scientist a well, it's
59:08
not actually possible there, even a bunch of people say,
59:11
well, we want to have a, I don't know what to call me on the
59:13
button up on the, you know, the the the the bottom of the
59:16
Mariana Trench. No, it's not possible because
59:19
it's too deep there. And so what will happen with
59:21
Bitcoin is that the discipline of science?
59:24
The discipline of math will be put over Everybody in government
59:28
and they'll say we want to do this we want to build this new
59:31
bridge to nowhere and then the you know, the people in charge
59:34
the money say well there's no money for that.
59:36
There hasn't been money for that for 50 years to the Bitcoin,
59:40
became the only money so you can try and ask people to build this
59:43
bridge to nowhere. But once they find out that the
59:46
plan, see The Architects plan for this big bridge, know where
59:49
nobody's going to pay for it and you can't steal that money out
59:51
of there because that error is also over.
59:54
So these politicians will be put in their place.
59:58
They will be constrained to keeping the roads clean.
1:00:02
Keeping the roads free of litter, and that's about it.
1:00:04
They'll only be able to do what people consent to be done to be
1:00:08
done because they won't be able to print money out of nowhere.
1:00:11
They'll be no federal government with the ability to print money
1:00:16
where the state can go and ask for a stipend or a grant or
1:00:21
whatever. They want to call it of money.
1:00:23
That this was conjured out of nowhere.
1:00:25
It's all going to end. It's all To be reformed is all
1:00:28
going to be reasonable and logical and mathematical
1:00:32
ruthless State mathematical and there won't be any chamber.
1:00:37
That people can go into vote to increase the amount of Bitcoins
1:00:41
in circulation. That's not possible because
1:00:43
computers won't allow it. And so that's going to be in the
1:00:48
end of that. And if they try and do these CB
1:00:50
CD BCS where they can control the supply of money, nobody's
1:00:54
going to use that money because it's not sound money.
1:00:57
On top of the, of the top, that is not interoperable or easy to
1:01:01
get a hold of it easy to use. So, everything is tilted against
1:01:05
these people even though they don't know it yet and there's no
1:01:09
way they can win. So one last one last question,
1:01:14
and I think this is a really important question to address
1:01:18
especially taking advantage that you're here.
1:01:22
Core eclipsed in and myself. We, and I've noticed this very
1:01:27
Very very quickly, right? Is that a lot of the shit coin
1:01:31
projects? I'm going to name one.
1:01:33
Specifically etherium is kind of getting in bed with the state,
1:01:39
right? And I believe that they're
1:01:41
trying to build themselves, a moat right in the state, you
1:01:44
know, kind of sees it in a way of we can continue the the the
1:01:49
inflationary party right through the basement party, right?
1:01:52
So it's his kind of like this match made in hell, what?
1:01:57
You say to that, what would you say to the people that are
1:02:02
saying, look etherium out, competes Bitcoin?
1:02:05
Sometimes, ethereum does this, etherium has this types of
1:02:08
functionality, why Bitcoin, and why not shit coin.
1:02:13
Specifically, why not etherium Beauty on?
1:02:16
Well, etherium, as we've all seen, what this switch to proof
1:02:22
of stake is not a stable platform.
1:02:26
There is somebody in Troll of etherium and it can be changed
1:02:30
at will. And so if you want to build a
1:02:35
sound economy, on a stable platform, if your team is not
1:02:39
the thing to do it on and also, nobody talks about this, but the
1:02:43
supply of ethereum is set to increase forever.
1:02:46
It's not sound money in any way. It's some kind of Stew do
1:02:50
Computing Computing platform that because they have you Fo
1:02:58
Pony t-shirt, wearing leader, and all the, rest of it, and
1:03:02
funny dances, and stuff like that.
1:03:03
That people seem to like it, the future when it comes to the
1:03:09
theorem is going to be very, very interesting.
1:03:11
And it's going to be a battle that Bitcoin is going to have to
1:03:16
fight to make sure that the world doesn't get consumed by
1:03:21
etherium, which, you know, it is possible.
1:03:26
They need to be Corners need to start thinking commercially.
1:03:30
They start, they need to start thinking about user experience
1:03:35
and all those other things, and don't expect people to come to
1:03:41
them on the terms of bitcoiners, they've got to come on their own
1:03:45
terms, and you've got to go to them, go to the places where
1:03:49
they are, and I think, people like wallet Satoshi are doing
1:03:52
that and moon, very, very well. Moon has a single balance In
1:03:58
that wallet, where doesn't matter if you receive lightning
1:04:02
or a known chain transaction, it contributes to a single balance.
1:04:06
Nobody, no normal person is going to accept that.
1:04:10
There's two different kinds of Bitcoin and I say, two different
1:04:13
kinds in double quotes. They're going to need this
1:04:16
business. To be abstracted away to
1:04:18
something that anybody can understand without having to
1:04:21
read a book. And if the people behind Bitcoin
1:04:25
companies are not willing to do that, they're not not willing to
1:04:28
deal with no appeal, persons on their terms.
1:04:31
Then there's going to be a problem and the least problem is
1:04:38
that the spread of Bitcoin is slow down.
1:04:41
The worst problem is that something else?
1:04:44
Something that's evil is going to win.
1:04:47
And, you know, we mustn't assume that Bitcoin has a free and
1:04:52
clear path to the Future. There's many forces Gathering
1:04:55
steam against it, they Are using things like etherium and those
1:04:59
other things to distract people and dissuade them from using
1:05:05
Bitcoin. And I saw the most astonishing
1:05:07
thing today. Like I tweeted somebody is
1:05:10
selling quote-unquote crypto which the word I never use you
1:05:14
should never use that word but they they said essentially this
1:05:18
but if you buy this crypto rather than that you'll get more
1:05:23
crypto. Now that's completely absurd if
1:05:28
when you know what to do or not explain to you or insulted by
1:05:31
explain it to you. But this is the language that
1:05:33
people are using when they're selling to the public and if
1:05:37
Bitcoin is don't have to this at the point at the coal face of
1:05:41
the market, then there's going to be a problem and that means
1:05:45
user education and I don't mean education about the gears of how
1:05:49
Bitcoin works. I'm talking about education at
1:05:53
the level of feelings. The same way that Apple
1:05:56
communicates everything by feelings and not by describing
1:06:01
the gears. Apple did a very, very good job
1:06:05
of describing why privacy is important and putting this into
1:06:09
its billboard as it was beautiful campaign.
1:06:11
I could share cost a lot of money, but that's the kind of
1:06:14
thinking that needs to be done in Bitcoin, and hopefully, we'll
1:06:18
be able to do something like this with Aztec.
1:06:21
Oh, we're trying to close out our He's a and we're going to do
1:06:26
stuff like this, and we're going to approach this problem the
1:06:28
same way that Apple does. And that's the way it needs to
1:06:32
be done. We need to get consumers on to
1:06:34
Bitcoin in the simplest fastest possible way so that the market
1:06:39
can be flooded by bitcoiners. Newly-minted.
1:06:42
Bitcoiners so that the other bad things are squeezed out and
1:06:46
don't have a chance to pollute contaminate and Destroy what
1:06:52
Bitcoin has to offer. Amen to that.
1:06:56
It is, it is pure hand-to-hand combat and the open battlefields
1:07:01
free market. Let the best, let the best man
1:07:05
win. And I must have, you must have
1:07:07
good Kung-Fu, amen. So, yeah, and but I am bullish
1:07:14
on bitcoiners. I think bitcoiners are all, you
1:07:17
know, they're waking up to this, to this reality, we're all, you
1:07:21
know, fighting in our own like front.
1:07:24
You know, with you with us, Techo me the more the propaganda
1:07:28
media arm but we're all fighting a good fight and it's it's an
1:07:33
honor to be in the trenches with the beauty on, and really
1:07:36
appreciate you coming on on simply Bitcoin RL today.
1:07:40
Why don't you tell everybody where they can find you online
1:07:43
and what you're working on these days?
1:07:46
Well, they can find me on Twitter and mostly my beauty
1:07:49
like help where I try and behave myself.
1:07:53
We fail. And I'm working on this thing
1:07:55
here, AZT e.com, which is growing very, very fast and we
1:08:05
have we're in the new stage of our development which is in
1:08:11
Market activation, requiring it. And so we have Outlets all over
1:08:16
the world where the easiest way to get Bitcoin.
1:08:19
We are consumer Bitcoin service, we created the category consumer
1:08:25
Bitcoin and we're trying to make it and succeeding.
1:08:28
By the way, make it as easy as possible to get ahold of small
1:08:32
amounts of Bitcoin, billions of people all over the world, don't
1:08:36
have a hundreds of thousands of dollars to spend on bitcoin.
1:08:40
They have small amounts comparatively to use Bitcoin
1:08:46
with swollen, lots of Fiat and they have the same needs as
1:08:49
everybody else to go into a garage and buy a bottle of water
1:08:53
or you Them to do is to buy it with Bitcoin and not with Fiat.
1:08:57
And when they want to send money from A to B across the world
1:09:00
that don't we don't want them to go to Western Union or Rio, all
1:09:03
these places we wanted to do with Bitcoin.
1:09:05
And so, in order to that to happen, it's got to be trivially
1:09:09
easy to get Bitcoin and that's what we're doing.
1:09:12
And we're doing it very well, very successfully.
1:09:14
We're growing strongly. And it's going to get better and
1:09:17
better. And essentially that's it.
1:09:21
No, I'm bullish on it. I'm very A excited to see what
1:09:25
you guys. You know, do what Aztec, oh, big
1:09:27
fan. I've been following that project
1:09:29
for quite a while. I recently found out, not before
1:09:32
you told me, but I did find out, I'm not going to, I don't want
1:09:35
to Doc's who he is, but I had you on the show and had you on
1:09:41
the show and, you know, I saw the Aztec, oh, background, and I
1:09:46
brought up some, like, I had Beauty on and he's like, he's
1:09:48
the founder of Aztec. Oh, and I'm like, no way and I
1:09:51
didn't make that connection. So that was really interesting.
1:09:57
Anyways man, thank you so much for joining us today on simply
1:10:00
Bitcoin IRL. Really appreciate it.
1:10:02
Guys, will be back. Enjoy your holiday weekend.
1:10:06
We will be back on Monday at 12:15 p.m.
1:10:09
Eastern Standard Time. They're like subscribing, all
1:10:11
that good stuff. We'll see you later and love you
1:10:15
all. Everyone have a good weekend.
1:10:17
Thanks a lot Eco by right.