Latest / Simply Bitcoin / How to Use Bitcoin Without Internet | EP 555

Transcript

How to Use Bitcoin Without Internet | EP 555 · Simply Bitcoin

• 0:18
  Yo welcome to another episode of Simply Bitcoin live.
• 0:22
  Your number one source for the peaceful Bitcoin Revolution.
• 0:27
  Today we have a very special show.
• 0:29
  This is simply Bitcoin, after all, we like to invite
• 0:32
  bitcoiners for all, from all walks of life, sometimes they're
• 0:36
  very well-known. Sometimes, you know, they're
• 0:38
  just plebs on bitcoin Twitter, and those plebs usually have
• 0:43
  some of the best takes because it's not that the well-known
• 0:46
  people have bad takes. It's that you've heard them a
• 0:49
  thousand times, right? So that's why we invite them
• 0:53
  because sometimes you have no idea what they're going to say,
• 0:56
  but the signal is so goddamn good.
• 0:58
  Anyways, Alex, how you doing good?
• 1:02
  How are you Nica? Thanks for having me, man.
• 1:05
  Thank you so much for coming onto, simply Bitcoin.
• 1:08
  It's going to be a great show. But first, I have to say, what's
• 1:11
  up to my legendary co-host, the legendary Optimus Fields, Nico
• 1:16
  Nico. It is humble It is humble Opti
• 1:19
  the host but good morning Nico. What's up, Alex?
• 1:23
  I just want to give you a shout out.
• 1:25
  Nico. Y'all need to watch that
• 1:26
  interview. He did yesterday because that
• 1:29
  was so fire. We went way longer than we
• 1:32
  thought and it was pure signal, guys.
• 1:35
  Absolutely pure signal. It's literally a must-see I
• 1:38
  know, I'm Schilling our products or whatever but it was fire
• 1:42
  guys. Like everyone in the chat was
• 1:44
  super bullish that's that's the content we're here for spreading
• 1:47
  that sound money. Gospel man.
• 1:48
  It was awesome. Yeah it was it was a lot of fun.
• 1:52
  It definitely went ran a lot longer than I thought it would.
• 1:55
  But anyways before we start the show today we're going to talk
• 1:59
  about how to use Bitcoin without the internet.
• 2:02
  Yes it is possible. We're also going to continue
• 2:05
  covering the disaster of aetherium aetherium run by
• 2:10
  Amazon. Regulated or what is it?
• 2:13
  Run by Amazon regulated, by the US government, I forgot the
• 2:18
  tweet. It was so good, but you guys get
• 2:20
  the general gist of it. Anyways, Opti, what are we going
• 2:22
  to talk to talk about today during the daily culture?
• 2:24
  I think this is the third daily culture.
• 2:26
  Well, we've been getting a lot of shit for some of our
• 2:29
  sponsorship. So I am going to address some of
• 2:32
  this stuff and then furthermore, if we got enough time, I have an
• 2:35
  awesome Eric case on thread. So we'll see, we'll see if we
• 2:39
  get there. I know the news.
• 2:41
  Been running long because there's a lot of news out here
• 2:44
  but yes, I am bullish on The Daily culture.
• 2:47
  I love it, man. It makes me feel good that I can
• 2:50
  talk about the stuff that I like.
• 2:52
  So, here we go. And man, let's just get into
• 2:55
  this Nico. Let's just get into his.
• 2:57
  I'm looking for the Tweet because it's such a good sweet.
• 3:00
  Anyways, I'll find it later. Let's start the show.
• 3:07
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• 3:32
  That's right. And perfect episode.
• 3:35
  Literally tell you the importance of running your own
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  Hardware, run your own version of Bitcoin core and you can only
• 3:41
  do that. If you run your own node you
• 3:43
  could build one or you could buy one obviously, we recommend the
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  novel, it's one of the best anyways.
• 3:49
  So the actual tweet says aetherium run by Amazon
• 3:52
  controlled by the US government. All right, just to just to
• 3:55
  clarify that because I had a little brain fog.
• 3:58
  Anyways, the Bitcoin price at the time of recording is that
• 4:02
  23,000 $365 sad. It's per dollar also known as
• 4:07
  Moscow, time to thout 4280, block height 740 9855 reachable,
• 4:15
  Bitcoin nodes, 14,800 and three blocks of The Happening. 90145
• 4:23
  having estimate April 21st, 2024, it's coming up total,
• 4:27
  lightning network capacity, 4547 .33 Bitcoin, estimated value
• 4:34
  around. Million dollars hash rate.
• 4:38
  Last 90 days estimated hash rate, there's no way to actually
• 4:42
  know the hash rate every website.
• 4:44
  Calculates it a little bit differently, 206 X2 hashes
• 4:48
  realize monetary inflation again taking the US dollar absolutely
• 4:52
  to school one point seven, eight percent during The Happening
• 4:56
  that number should be cut in half market cap also known as
• 5:00
  market capitalization 440, six billion dollars with It's a be
• 5:07
  kind of want to do a little bit of hold on.
• 5:08
  Before we got into that can we, can we go back to that realize
• 5:12
  monetary inflation? I just kind of realized that
• 5:16
  Bitcoin even at one point seven. Eight percent is the lowest
• 5:21
  inflation rate of any money. Any currency out there in the
• 5:24
  world and this isn't even fully diluted Bitcoin hard cap, 21
• 5:29
  million Bitcoins, man. I don't know if we ever all the
• 5:32
  people out there saw but the UK has double digit inflation.
• 5:35
  And that's them manipulating the CPI.
• 5:39
  Bitcoin is the way anyways, go, Anika.
• 5:42
  I'm bullish. Bullish numbers there, dude.
• 5:45
  No, it's good. That you poured it out because
• 5:47
  that will continue to get worse. So the Bitcoin is just gonna it
• 5:52
  shines the light of Truth on everything and it's just going
• 5:54
  to expose the scam that is Fiat currencies.
• 5:58
  Think about it this way. We are forced by legal tender
• 6:01
  laws to earn in a currency that literally, Steals from us.
• 6:07
  That is how the system is designed and Bitcoin shines, a
• 6:10
  light of Truth on that and it provides an alternative that
• 6:14
  can't be easily co-opted by governments, right?
• 6:17
  Which is really emphasizes the importance of decentralization.
• 6:20
  So I think you brought up a great Point Opti.
• 6:23
  Screw the Fiat currencies. Anyways, I want to kind of have
• 6:27
  a throwback. This is the importance right?
• 6:30
  Of hot curling. Your Bitcoin don't trade.
• 6:32
  What Odell always says. Stay humble stack SATs.
• 6:35
  Audio listeners. This is a screenshot of Reddit
• 6:39
  and it says is someone who posted this 11 years ago and
• 6:43
  they said, of course, they deleted.
• 6:44
  Their account. Will Bitcoin be $20 each by the
• 6:48
  end of August, if you're right, you could win 10 Bitcoin.
• 6:51
  Whoa. This is an easy bet I take no
• 6:55
  wow holy crap that's like twenty thousand dollars for two hundred
• 7:00
  forty thousand USD today. The power of absolute scarcity
• 7:04
  is something that we White don't understand yet.
• 7:07
  Anyways, I have a video for us to watch today.
• 7:10
  Hey, and react to. It is from the Robert Breedlove
• 7:13
  podcast and he brought on Catlin long and Catelyn.
• 7:17
  Long was talking about the importance of self custody.
• 7:22
  Anyways, check out the clip and then we'll talk about it.
• 7:27
  Should have hid somewhere around six figures in this in this
• 7:30
  previous cycle and it didn't. So why didn't it?
• 7:34
  Because there is a lot of paper Bitcoin out there.
• 7:36
  That's supplying the real Demand with fake Supply and what I mean
• 7:42
  by that paper Bitcoin is those are iou's if you added up all
• 7:46
  the ious from the intermediaries and then added up the total
• 7:51
  number of Bitcoin outstanding. What it's nineteen Point 1
• 7:53
  million or so, I don't think we've hit nineteen point two
• 7:55
  million yet. I'll bet you that we're well we
• 7:58
  already know, right? Because we've seen some failures
• 8:01
  counterparty failures. We already know that the total
• 8:03
  number of Bitcoins promised to people through intermediaries is
• 8:08
  far greater than 19 Point 1 million, right?
• 8:12
  And and so what happened all those intermediaries that sold
• 8:17
  their customers and I owe you on bitcoin to pay proverbial paper
• 8:23
  Bitcoin that went to satisfy real demand And any time you
• 8:27
  push the supply curve out. If you think about
• 8:30
  supply-demand, I did a tweet storm about this a little while
• 8:32
  ago, and someone just brought it up to me recently, so I can dig
• 8:35
  it up and send it to you, so you can send it out.
• 8:38
  Anytime. You push the supply curve out,
• 8:42
  Leaving everything else. Constant leaving your demand
• 8:44
  constant? What happens?
• 8:46
  Your price goes down and that's what's happened here.
• 8:50
  So dude, it sounds like what they're trying to do, right?
• 8:54
  And this benefits, the government right?
• 8:56
  Is to manipulate Bitcoin the way that they have successfully,
• 8:59
  manipulated the gold market for so long.
• 9:01
  Right. They have sold paper gold, right
• 9:05
  and unfortunately, we're seeing the same thing happen.
• 9:08
  Here. They're just paid.
• 9:10
  You can I buy some Bitcoin from you?
• 9:12
  Sure, but I'll custody for it, I'll custody for it for a for
• 9:17
  you too. And how are you going to come?
• 9:19
  Arm that that institution actually says the Bitcoin that
• 9:23
  they sold you like, how do they, how do you know that they
• 9:25
  actually have that Bitcoin? The only way to know is by
• 9:29
  taking self custody and this is why self custody is so
• 9:33
  important, right? Self custody basically tells the
• 9:36
  exchange. Hey, you got to put up or shut
• 9:39
  up and what we saw with the whole Celsius debacle, in a lot
• 9:43
  of these platforms that collapse, what were they doing
• 9:46
  with a lot of the Bitcoin that they were holding for people?
• 9:49
  They were speculating with it. There are trying to get a return
• 9:52
  on your Bitcoin and then when the price went down, they
• 9:56
  realized that they didn't have enough Bitcoin to honor all the
• 10:00
  deposits, all honor all the withdrawals and what do they do?
• 10:03
  They had to file for bankruptcy and I suspect a lot of these
• 10:07
  exchanges that are even the big ones.
• 10:10
  They don't have the Bitcoin that they say they do if everybody
• 10:15
  withdrew at the same time, they would not have enough Bitcoin to
• 10:18
  honor all. Those withdraws.
• 10:20
  And this is the important of self custody.
• 10:22
  It does two things. It protects you from the BS.
• 10:28
  You know, partially reserved type of exchange bullshit behind
• 10:34
  the scenes and it also kind of helps the price a little bit,
• 10:38
  right? Because if you could it's what
• 10:39
  Catlin long said, if you could extend the supply, if you can
• 10:42
  make the supply longer and longer and longer that's just
• 10:46
  that's just price. Depression is just going to
• 10:48
  bring the price down. Now, what she said about, you
• 10:51
  know, the expectation of Bitcoin sitting hitting six figures the
• 10:56
  last cycle, the the previous cycle.
• 10:59
  I don't know about that, but I can tell you this, I think that
• 11:02
  a lot of people had really high expectations for the last cycle,
• 11:06
  and they're expecting a bitcoin price between 100 and 200 K and
• 11:11
  were let down. When that didn't happen, I think
• 11:14
  that was a combination of two things.
• 11:16
  I think that the Chinese Communist party Band Bitcoin
• 11:18
  mining at Exact right time. You could make that argument
• 11:23
  that that's an attack on the price of Bitcoin attacking the
• 11:26
  price of Bitcoin is slowing down adoption, right?
• 11:28
  The price of Bitcoin going up, is what attracts more people to
• 11:32
  come? That was the genius of Satoshi
• 11:34
  in the for the roughly four year having cycle, right?
• 11:37
  So and the other component, right?
• 11:40
  Is man, whether it's, you know, the infamous Plan B and is
• 11:45
  bullshit ass, you know, stock to flow and all the chain of Isis
• 11:49
  guys. And whatever everyone was
• 11:51
  expecting, a minimum 100K Bitcoin and I'm pretty sure that
• 11:56
  I got a lot of people got super wrecked.
• 11:58
  When they did a leverage long and Bitcoin only hit 69k and
• 12:02
  there were expecting 100K Bitcoin minimum, right?
• 12:06
  I think that this problem with Catelyn long is talking about
• 12:09
  the rehypothecation of Bitcoin is going to continue to get
• 12:12
  worse. Not better, right?
• 12:14
  And really the way that you protect yourself against that is
• 12:17
  taking self custody Listen, we can't win this revolution.
• 12:22
  Nothing will change. If people don't take back their
• 12:26
  full control of their wealth and by doing that taking back full
• 12:31
  Financial sovereignty, that's how you win the revolution.
• 12:34
  That is actually how we make change.
• 12:36
  If we don't do that, nothing will change, anyways, Alex?
• 12:42
  What are your thoughts on this? What are my thoughts?
• 12:45
  Yeah, well, I agree with you broadly and I think that oops,
• 12:50
  the desk. I think that the interesting
• 12:55
  parallel with with talking about price suppression and Bitcoin
• 12:59
  via Bitcoin future shorts or whatever, you know,
• 13:03
  rehypothecation or whatever. The suppression mechanism is,
• 13:08
  the interesting parallel is over in the precious metals
• 13:11
  Community, because, you know, you already mentioned it that
• 13:14
  Price suppression. You know, we're sort of calling
• 13:17
  foul in terms of, you know, those assets as well.
• 13:23
  But the Curious thing about it is that it's really says more
• 13:27
  about the US dollar being your unit of account than anything
• 13:31
  else, right? Is that if the unit of account
• 13:34
  in your head is still the US dollar like that's kind of
• 13:39
  residual of the siop. And so you know we talked about
• 13:43
  hyper Bitcoin is. Ation.
• 13:44
  But we don't talk a lot about what it's going to feel like to
• 13:48
  denominator everything in SATs. And I think that's, that's
• 13:54
  really key because I believe that in a sound money, if your
• 14:00
  unit of account is has shifted and into into that sound money.
• 14:05
  Like if we even if there's some Shenanigans going on that
• 14:09
  ultimately you're going to get better price, Discovery better
• 14:13
  free market unregulated. Free market signal for different
• 14:16
  asset classes if their denominated in a sound money.
• 14:20
  And so, you know, you can look at the US dollar price history
• 14:25
  of gold to which is relatively not, absolutely scarce.
• 14:29
  And if you were to denominated everything in the whole universe
• 14:32
  of Assets, in troy ounces of gold, there'd be something
• 14:36
  useful there in that data, I believe to and I think even
• 14:41
  more. So now that we have something
• 14:43
  that's absolutely scarce. Yes.
• 14:45
  And can then be transactive ol, you know, on lightning and
• 14:48
  everything. So, you know, I think price
• 14:52
  suppression is just a subsidy and it's sort of like a shadow
• 14:55
  Peg currency peg in a way that's being done.
• 15:00
  Sometimes in a really, you know, illicit way I guess by Wall
• 15:04
  Street. So, you know, it's it's just a
• 15:09
  question of, are they really doing it?
• 15:11
  Are they, aren't they? And then if they're doing it,
• 15:14
  how That break you know people speculate on the breaking of
• 15:17
  currency pegs all the time and it's an asymmetric bet you could
• 15:20
  make a lot of money if you're right at the moment, when say
• 15:23
  the Swiss franc get son Peg from the Euro and that's a multiple
• 15:27
  hundred standard deviation move or something that shouldn't
• 15:30
  happen. So yeah, so speculators could
• 15:34
  definitely play either side of that trade, if that is indeed
• 15:37
  happening because it's artificial Yeah, absolutely.
• 15:43
  And Opti, what is the plug perspective on this bro?
• 15:47
  Well, first off, I'd loved Alex's point about Fiat, Maxis
• 15:51
  and people not switching the unit of account to bitcoin, I
• 15:55
  spot on completely spot-on. And then, furthermore, on the
• 15:58
  rehypothecation, I love how Caitlyn long frame this.
• 16:02
  I say it all the time. You know, that the paper Bitcoin
• 16:06
  iou's are definitely a problem. I've been, I've been touting the
• 16:11
  same thing. A while, like self custody is
• 16:13
  the revolution. Make sure you hold your private
• 16:16
  Keys. Make sure you're taking Bitcoin
• 16:17
  off exchanges, if you are using exchanges.
• 16:20
  And then furthermore, everyone has the memes of like
• 16:23
  institutions are coming. You know, the institutions are
• 16:25
  coming, the institutions are here, and it's like, yes, they
• 16:28
  are here, and they will try to rehypothecation your Bitcoin.
• 16:31
  If you do not take your keys into self custody, I would say
• 16:35
  this is a feature, but it's definitely a bug, but we know
• 16:38
  it's back to the whole idea, you know, people in the Fiat.
• 16:41
  Game are going to play or try to continue to play the Fiat games
• 16:45
  in Bitcoin until they get wrecked.
• 16:47
  And, or furthermore until you guys do Bank runs on the
• 16:51
  exchanges out there, like shouts out to.
• 16:53
  Is it January 2nd or January 3rd on, you know, the date of of
• 16:58
  Bitcoins creation? The take your keys day.
• 17:01
  So, you know, as bitcoiners as part of the culture, we
• 17:05
  definitely try to get people to understand that self custody is
• 17:08
  the way that you can't use an exchange to hold Bitcoin.
• 17:12
  But also this reminded me of that one, how many posts where
• 17:17
  he talks about in the future. There will be fractional Reserve
• 17:20
  Bitcoin Banks and they will be fuel Reserve, Bitcoin Banks and
• 17:23
  people in the free market will have to choose what products
• 17:27
  they want to use and what risk they're willing to take.
• 17:31
  And maybe he was saying that eventually, this this risk and
• 17:35
  trade-off will be a lot more up front.
• 17:37
  But right now, we definitely know that the institutions are
• 17:42
  suppressing the Bitcoin price. We know a lot of people are
• 17:44
  rehypothecation their Bitcoin out there and it's up to you
• 17:47
  guys to call their Bluff. Take your Bitcoin into self
• 17:50
  custody and furthermore, they can only suppress the price of
• 17:55
  Bitcoin for so long until the DCA Army and the having takes
• 17:59
  over the supply and the demand just eats up all this money.
• 18:03
  So guys, continue to DCA continue to stack SATs continue
• 18:07
  to spread the sound money gospel because this is the revolution.
• 18:11
  Take responsibility for your money and stop.
• 18:15
  Outsourcing your trust, guys. Remember what it says in the
• 18:18
  white paper, the financial system that we currently live in
• 18:21
  is good enough but it just Outsource too much trust.
• 18:25
  So we're calling their Bluff. We know these people aren't
• 18:29
  trustworthy. We know that.
• 18:31
  Hey look, I'd like to think that I'm a noble human, but, you
• 18:35
  know, if you gave me the power to control people's money, I'm
• 18:39
  pretty sure I would also print more money.
• 18:41
  Me and, you know, it's like, you know, it, hey, I am not above my
• 18:45
  incentives, I understand this, I am only human.
• 18:48
  So, you know, that these people are out here trying to re
• 18:51
  hypothecate your Bitcoin, which means take your Bitcoin into
• 18:54
  self custody, the revolution is self custody.
• 18:58
  We say this all the time, and we're going to continue to say
• 19:01
  it forever, because that is the revolution guys.
• 19:06
  Boom, exactly, Amen to that. Anyways, let's move on to the
• 19:11
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  Mom. Alright, so today we are
• 19:45
  literally going to dunk on eith. We're going to expose a thief
• 19:51
  and then we're going to get into the details of how to send
• 19:54
  Bitcoin without using the internet.
• 19:57
  First of all, this is Brian. Not wrong.
• 19:59
  He's the CEO of these shit coin exchange, these chick coin
• 20:04
  casino coinbase. He says sanctioning kit
• 20:08
  technology as opposed and I'll tell you where the signal is,
• 20:11
  right. Right.
• 20:12
  Sanctioning technology as opposed to an individual or
• 20:14
  entity seems like a bad precedent to me and it should
• 20:17
  probably be challenged could have many Downstream unintended
• 20:20
  consequences and you're like, okay, you know, at first you're
• 20:23
  like yeah, solidarity, Brian Armstrong is standing with us
• 20:27
  but If you scroll down, it says hopefully obvious point.
• 20:34
  We will always follow the law. How does that apply?
• 20:40
  I'll get to it in a sec. This is e.
• 20:43
  Nodes, dot-org. This is what I use a lot because
• 20:47
  I was dropping some comments, a couple of these last couple
• 20:50
  days, right? Where it's really been exposed.
• 20:53
  That etherium is really already been captured by the US
• 20:57
  government and a lot of the eith people were having such
• 21:00
  cognitive dissidence. I had to bring up the receipts,
• 21:04
  right? And this is a really good source
• 21:07
  for that, right? And you ever Underneath person
• 21:10
  we go to network types, right? And this is the type of ethereum
• 21:15
  nodes. Remember aetherium is extremely
• 21:19
  resource-intensive, right? That's how they have all the
• 21:22
  smart contract, capability, etc, etc.
• 21:26
  Because of that, you need. It requires High Hardware
• 21:31
  requirements or specific Hardware requirements.
• 21:33
  Most of which most people don't have at home, right?
• 21:37
  So what happens, they Outsource A lot of that, a lot of those
• 21:41
  harder requirements to server Farms.
• 21:43
  The problem is that there's only a handful of companies that
• 21:46
  could afford to run those those server Farms, right?
• 21:50
  And here is the companies that are running that and you'll
• 21:55
  recognize a lot of them from Amazon.
• 21:57
  Amazon right now is running 48% of ethereum nodes.
• 22:01
  That's right. Ladies and gentlemen, 48% of
• 22:05
  etherium is run on Amazon, web servers servers Oracle.
• 22:09
  You've heard of them, Ali, Google Microsoft, oft more
• 22:14
  Amazon digitalocean, right? I'm sure you recognize a lot of
• 22:18
  these companies. So, what does that mean?
• 22:22
  That means that they're very vulnerable to capture by
• 22:25
  government. How long until the US government
• 22:29
  says, Hey Amazon, Google Oracle. You can't run an etherium node
• 22:35
  that's not sanctioned compliant. How long until that happens?
• 22:40
  And as you could see with the coinbase CEO, At the end of the
• 22:45
  day, they're CEOs, they want to remain business, they're not
• 22:48
  revolutionaries. The people are the
• 22:50
  revolutionaries and I'll get to the difference in the design
• 22:54
  between the two networks, right? Because hopefully, we will
• 22:58
  always follow the law. He's the CEO of a public
• 23:00
  company. I'm going to fight the
• 23:01
  government right now. If you compare that with
• 23:04
  Bitcoin, this is why the four cores in 2017.
• 23:06
  We're so important because it was the people that rose up to
• 23:11
  the most powerful mining. Conglomerate at the time.
• 23:15
  Which was bit me and said, hey, we don't want bigger blocks.
• 23:18
  Why did we not want bigger blocks?
• 23:21
  Bigger blocks require more resources.
• 23:25
  Meaning it would require people to invest more and nodes.
• 23:30
  Meaning some people would inevitably run those nodes on
• 23:36
  servers because it's a lot easier if you just rent, someone
• 23:39
  else's computer rather than running it at home.
• 23:43
  If you look at how Bitcoin is done, the resource requirements
• 23:47
  are low. It's about, it's between two to
• 23:49
  three hundred dollars. If you want to build it
• 23:50
  yourself. If you want to buy euro note it
• 23:52
  goes up to 1,900 bucks. Try doing that with aetherium,
• 23:59
  it will require thousands and thousands and thousands of
• 24:02
  dollars which is why you get this situation where the
• 24:05
  majority of nodes are run on giant server companies, whether
• 24:11
  that's a Amazon Google Microsoft and that makes them prone to
• 24:17
  capture by government. But it's not only that.
• 24:20
  Let's talk about proof of steak or a lot of shit coiners, talk
• 24:23
  about oh a proof of stake is going to change things.
• 24:25
  No it's not. You know, who the biggest acres
• 24:28
  are? Coinbase Kraken.
• 24:36
  Bitrex American exchanges that are prone to government
• 24:42
  regulation and capture and we saw huge arguments happening on
• 24:46
  Twitter and basically where they were talking about is hey the
• 24:50
  etherium community needs to stand up.
• 24:54
  The etherium community is not in the position that the Bitcoin
• 24:57
  Community was in. When they did the user activated
• 25:00
  soft work the user activated software, could only happen
• 25:05
  because the people run the Bitcoin software by running
• 25:10
  their own nodes. Which is why we always advocate
• 25:12
  for that on the show. If you want voting power, run
• 25:16
  your own note you when you run your own node, you get to decide
• 25:19
  as an individual, what Bitcoin software you want to run.
• 25:23
  And what Bitcoin software you don't want to run.
• 25:26
  But when you Outsource that responsibility to a server Farm
• 25:30
  run by a large corporation, that's beholden to the US
• 25:32
  government. You don't have that choice, you
• 25:36
  Outsource that choice. This is why etherium inevitably
• 25:44
  will be captured. this is the future of ethereum and which is
• 25:48
  why you have Me theorizing this you have Corey clips and also
• 25:54
  theorizing this as well. If you just use common sense,
• 25:59
  what is the next logical move? The next logical move is for
• 26:03
  aetherium to get in bed with the state to make sure the state
• 26:09
  protects it with the regulatory moat and at the same time,
• 26:13
  attack Bitcoin, because they want to pump their own bags.
• 26:17
  Aetherium is not built to separate money from State.
• 26:21
  It's a scam, it's always been a scam now because I'm saying that
• 26:26
  that doesn't mean that in the short-term etherium can't
• 26:29
  outperform Bitcoin. Does it mean that?
• 26:35
  But what it, what are you here for?
• 26:38
  What gets you up in the morning? I came here to get rich.
• 26:43
  I'm not going to lie as well. I got into Bitcoin.
• 26:47
  But I stayed here for the revolution.
• 26:49
  I stayed here because I want to free Mankind, from the tyranny
• 26:53
  of Central Banking. That's what this is about.
• 26:55
  That's what gets me up in the morning.
• 26:57
  Absolutely. And only Bitcoin through its
• 27:00
  decentralization is capable of doing that.
• 27:05
  Aetherium and it's already doing that, they're already advocating
• 27:09
  for Central Bank, digital currencies being built on
• 27:11
  ethereum. They're already using their
• 27:14
  marketing money to attack, Bitcoins proof of work, which is
• 27:17
  what makes Bitcoin uncorruptable.
• 27:23
  Anyways, what are your thoughts on this city?
• 27:25
  Then we'll go ahead and hit it first.
• 27:30
  It was a good ramp. No, I agree.
• 27:38
  I do I have an echo. It's all good.
• 27:44
  The the whole point of a central bank, right?
• 27:49
  Is to run a currency Zone but then to kind of obfuscate that
• 27:53
  fact and so the fact that You know, now we're talking about
• 27:58
  CBD seize. The people that should be really
• 28:02
  confused or worried about that, right?
• 28:04
  Are the bankers themselves that are in the FED system or in each
• 28:07
  of these currencies on Management Systems because
• 28:10
  they're the ones who've been lending that currency into
• 28:13
  existence. I mean, everyone should be
• 28:15
  worried about it because of the surveillance aspect but it's
• 28:20
  it's clearly a move to cashless Society worldwide and that's
• 28:26
  really bad. Delivery.
• 28:28
  I think that's just categorically that for Liberty
• 28:31
  and and it's a little ironic with bitcoiners to kind of
• 28:34
  attack on the Cashflow subject because obviously we want
• 28:38
  Bitcoin to be cashless but we also want it to enhance Liberty
• 28:43
  everywhere it touches everywhere in the world.
• 28:46
  The way to do that is to make sure there are crossovers to
• 28:52
  completely Anonymous cash, equivalents and cash.
• 28:56
  I mean, the idea of having your seed phrase, on a metal plate,
• 29:01
  is physical, right? And so that's feels like cash
• 29:03
  and opened. I'm as a little physical a bit
• 29:05
  of Bitcoin so that feels sort of like cash.
• 29:10
  I think that there's a lot of good ethos in the community
• 29:12
  toward resisting cashless Society nonsense.
• 29:17
  Absolutely. And, and that's the key, right?
• 29:20
  Is that fine? They want to move it a cashless
• 29:24
  Society. At the end of the day they're
• 29:26
  the Ones that control that money right with Bitcoin is it's like
• 29:30
  listen we're just going to opt out completely of your system.
• 29:34
  You want to take it to this dystopian?
• 29:37
  You know, vision of the future where these Central planners
• 29:41
  control every single move you do.
• 29:43
  And now they're going down the bid of now you can eat certain
• 29:46
  foods because you know, Carbon and all that BS.
• 29:49
  Yeah. Bitcoin is the way out.
• 29:51
  And which is why we always say on the show, we're going to keep
• 29:54
  saying it till the end of time until they take us off the air
• 29:57
  Bitcoin or slavery. Anyways Opti, what's up, yeah?
• 30:01
  Mika, Jones and full of fact. Let's go first off Shout out to
• 30:08
  Jeff Bezos the true owner of ethereum 48% of he's nodes
• 30:13
  running on AWS servers amazing amazing.
• 30:16
  Imagine being a part of the the pseudo decentralization theater
• 30:20
  art, that is aetherium and shit coins.
• 30:23
  And then this this reminded me of thought it was a joke, right?
• 30:28
  I first read about ether. Yeah.
• 30:29
  All right, exactly. So this this reminds me of the
• 30:33
  tweet that I put up yesterday by Bitcoin is saving and it was the
• 30:37
  eye. Yeah, yeah.
• 30:38
  Oh my God. Shout out Jeff Bezos.
• 30:41
  Yeah, he's laughing all the way to the bank.
• 30:43
  Anyways, this reminds me of Bitcoin is savings tweet that I
• 30:45
  mentioned yesterday about bitcoiners bullying and ofak
• 30:49
  compliant company and he's heads meth heads just crumbling to the
• 30:54
  ofac compliance to all you Eve guys out there when ofac
• 30:58
  compliant nodes because we know that's coming soon.
• 31:01
  And then furthermore you said something on the lines of when
• 31:06
  we'll eat Aligned with the state and I will just double down and
• 31:10
  say that eath is already aligned with the state.
• 31:13
  Look at who is backing you look at who they're partnered with.
• 31:17
  It's pretty clear follow the money and you will see what is
• 31:20
  happening. And then furthermore Nico I'm
• 31:24
  not the biggest fan of the meme of voting power with your node
• 31:29
  but I do understand what you're saying that choose your rules
• 31:33
  and that is what is going on here, guys.
• 31:36
  Vote with your pocketbook. Use a node, Don't just run a
• 31:39
  node. Use a node verify your
• 31:41
  transactions with that note because then, you know, you're
• 31:43
  actually using Bitcoin and you are on the Bitcoin Network.
• 31:48
  And then furthermore, I will also double down on the meme.
• 31:52
  Guys, came for the money, but stayed the fix the money.
• 31:56
  This is, this is just the normal one of the normal Bitcoin
• 32:00
  feedback loops number goes up, people get caught up in in the
• 32:04
  fomo and then they start to double down an Tation.
• 32:07
  They go farther down the rabbit hole and then they realize there
• 32:10
  is no going back to the Fiat system.
• 32:13
  I don't understand how anyone could become a Bitcoin or how
• 32:16
  anyone could get fully orange peeled.
• 32:18
  And then they go back to the Fiat system.
• 32:21
  It's literally that scene from The Matrix where the guy, you
• 32:24
  know, unplugs and, and he's eating the steak and he's like,
• 32:27
  man. I know it's fake, but it tastes
• 32:29
  so good. Like, I just, I can't, I can't
• 32:32
  in my right mind. See a big Corner.
• 32:36
  Really go back to the field. Is the mic.
• 32:38
  There is no alternative guys, we say this all the time.
• 32:40
  Bitcoin fixes us. Bitcoin is Bitcoin is Hope and
• 32:44
  that's why we do what we do. But furthermore, I'm gonna
• 32:47
  Double Down, guys, a push to a cashless Society in my opinion,
• 32:51
  just means a hyper Bitcoin eyes world.
• 32:54
  I have faith in humanity as these totalitarian and these
• 32:58
  authoritarians double down on, making sure that you are tet
• 33:01
  tracked, bagged and compliant. People will find the Escape door
• 33:06
  and that escape door is Bitcoin. So, as much as I am concerned
• 33:11
  and worried about these totalitarian in these
• 33:14
  authoritarians trying to push Society to a cashless CBC type
• 33:19
  system, we have Bitcoin and people will escape into Bitcoin
• 33:25
  because no one in their right mind wants to be chattel.
• 33:31
  You like we said it, we say it all the time it's Bitcoin or
• 33:34
  it's slavery. And this isn't even hype like
• 33:37
  hi. Bali.
• 33:38
  It's literally in their rhetoric.
• 33:40
  They want to control you completely, they want to make
• 33:43
  sure that they can shut you off Society.
• 33:45
  If you have wrong, think they want to make sure that you can't
• 33:48
  even save money. This is absolutely disgusting.
• 33:51
  Anti Human Behavior. They're stealing your life force
• 33:56
  and they know it. These parasites at the top.
• 33:59
  Shouts out to praveena. I'm stealing that Meme.
• 34:02
  Want you in total control? It's absolutely disgusting.
• 34:07
  This is Why we Bitcoin? This is why we spread the sound
• 34:09
  money gospel. This is why we show up every
• 34:11
  single day to make sure that people understand that.
• 34:15
  Yes, this is actually happening. This isn't a conspiracy.
• 34:19
  This is in the rhetoric in the writings, but you have a
• 34:23
  solution and the solution is Bitcoin.
• 34:25
  Remember what? We were talking about with 1971
• 34:28
  and how people didn't even know there was a problem, you know,
• 34:31
  people still don't even know what Fiat means out there.
• 34:34
  But we have Bitcoin guys, so you guys need to be louder.
• 34:38
  You guys need to be proud to be a Bitcoin.
• 34:39
  ER, you need to spread the sound money gospel, because there is
• 34:42
  no alternative and who knows how long they can kick the can down
• 34:45
  the road, but if you need Bitcoin, it's already too late.
• 34:49
  You want to be prepared and Save in Bitcoin, because you never
• 34:53
  know what the hell is going to happen, man.
• 34:54
  It's getting crazy out. There it is, getting crazy out
• 34:57
  there. That's right.
• 34:58
  That's right. Anyways, moving on, moving on,
• 35:01
  we have a little bit of time left to cover this.
• 35:03
  How do you? Bitcoin without the internet.
• 35:07
  That is it questions? So, it says, imagine waking up
• 35:12
  one morning to find that the internet is down.
• 35:14
  Not because the Wi-Fi has been disconnected.
• 35:16
  Instead, your government has pulled the plug, you have, no,
• 35:19
  you have no idea when he'll be back online and in the meantime,
• 35:22
  you're cut off from life as, you know, it ranging from contact
• 35:24
  from loved ones abroad to paying for anything by card.
• 35:27
  Since Society isn't big on keeping cash.
• 35:29
  These days and ATM stock up. Only so much paper money, at a
• 35:33
  time. Chances are, you'll have to step
• 35:35
  aside or engage in a few of his fist fights.
• 35:39
  If you're to put a meal on the table, Since Bitcoin is itself,
• 35:43
  a form of digital currency would amount of pre-planning to set up
• 35:46
  a transaction. But in theory it could still
• 35:49
  operate even when conventional options are forced fortunately
• 35:53
  removed from the equation. Depending on the political
• 35:57
  stability of your geographic location.
• 36:00
  Learning how to send Bitcoin without the internet.
• 36:02
  Could be nothing more than a fun Sunday afternoon science
• 36:05
  project. Then again it could provide the
• 36:07
  way out of a tight spot one day. Now what are those methods?
• 36:10
  This is the first one come 2018. There is a new experiment, Town
• 36:14
  ingredients book, brooklyn-based, go Tena, great
• 36:18
  company, a mobile mobile long-range off-grid consumer
• 36:22
  mesh Network and a privacy will privacy wallet, Samurai wallet.
• 36:26
  New Zealand developer transported Bitcoin or shit
• 36:29
  going from a distance of twelve point six kilometers away
• 36:33
  entirely offline using only a network.
• 36:36
  Disconnected. Android phone and for portable
• 36:39
  antennas. This is what we're talking
• 36:41
  about. The mesh Network, this is an
• 36:44
  example of the mesh Network being used.
• 36:46
  The downside of that, of course, is, that's a lot of relay
• 36:49
  stations, right? That's a lot of Hardware.
• 36:51
  Now, let's move on to the next one.
• 36:54
  This is the famous one. This is the one that nvk.
• 36:56
  He has pinned to his Twitter and he sent Bitcoin through ham
• 37:02
  radio. So, with Novak and Patterson's
• 37:05
  latest feature crypto, Twitter went wild Zabo showing that he's
• 37:09
  still a firm. Proponent of taking Bitcoin
• 37:12
  Skyward. Chimed in to congratulate
• 37:14
  congratulate the duo for a successful send-off that not
• 37:18
  even a snowstorm could stop. So what are they talking about?
• 37:24
  Yeah it's really really absolutely badass.
• 37:27
  So bam, Bitcoin sent over seven point zero, seven seven MHz via
• 37:32
  js8 call to Samuel Pat right. So and I don't know if you guys
• 37:37
  know a lot about ham radio it but it bounces off the
• 37:42
  ionosphere. So a ham radio signal from India
• 37:46
  which is halfway across the planet of where I am today,
• 37:49
  which is on the east coast of the States ham, radio signal
• 37:53
  from India, could get here. And if I have a radio, if I have
• 37:56
  a ham radio, I could hear their Transmissions right.
• 38:00
  So it's very long distance and what Novak would nvk proved
• 38:04
  here? Was that?
• 38:05
  Yes, you can send signal through radio but what about the other
• 38:09
  alternative? The other alternative, which
• 38:12
  honestly is my favorite right now?
• 38:14
  It's the block stream satellite. Yes, block stream has a
• 38:19
  satellite or multiple satellites.
• 38:21
  Literally in space that you can connect to the Bitcoin Network,
• 38:25
  through the block stream satellite network broadcast, the
• 38:27
  Bitcoin blockchain around the world 24/7 for free protecting
• 38:31
  against Network interruptions and providing areas without
• 38:34
  reliable internet connections with the opportunity to use
• 38:38
  Bitcoin. But it's not only that this new
• 38:41
  company which is why I wanted to cover this today, Bitcoin,
• 38:44
  without internet. Now, you can send Bitcoin
• 38:47
  through SMS. Now, the unfortunate about a part about
• 38:50
  this Right? Is that it's a centralized
• 38:53
  service but it actually makes a lot of sense, right?
• 38:56
  And Kenya goat on he's home home, which I'm assuming he's
• 39:00
  the founder of this company. He explains that topping up a
• 39:03
  phone with airtime is as commas as credit card payments in the
• 39:06
  west, a report by Caribou backs to the statement. 94% Financial
• 39:10
  transactions in. Africa are through ussd, the
• 39:13
  protocol used to send text messages, whereas just 6% of
• 39:17
  these transactions are made Via mobile apps, Soooo in some while
• 39:22
  there are millions of phones in Africa, they're mostly used for
• 39:25
  texting kg has stumbled onto something.
• 39:27
  That could be huge for Bitcoin adoption in Africa and that's
• 39:32
  badass. Here is an example, some
• 39:34
  screenshots of that happening. Right has gifted you ten ten
• 39:37
  thousand SATs, right. And all you have to do is
• 39:40
  through text messages and also another thing is that Bitcoin at
• 39:43
  the end of the day Bitcoin is tax, Bitcoin is speech so you
• 39:47
  can sign a transaction. Forest comes to worse.
• 39:52
  I don't suggest this but technically you can do it by
• 39:55
  hand. Technically you could hide a
• 39:58
  Bitcoin transaction in a ton of emojis, right?
• 40:02
  And you could write up a software that could interpret
• 40:05
  those emojis as certain characters and boom, that is
• 40:08
  assigned Bitcoin transaction. Now, why am I telling you all of
• 40:12
  this? I'm telling you all of this to
• 40:14
  make the point that you can't stop the signal.
• 40:18
  You can't stop the honey badger. Censorship and tyranny and the
• 40:27
  Quest for a better life to improve your living situation
• 40:31
  is, the mother of innovation people will find the way like
• 40:35
  water going around a walk, a rock and then over time, that
• 40:39
  water will chip off at the rock over a long time, period, right.
• 40:43
  Can't stop Bitcoin. Eventually the signal goes
• 40:46
  through. So why is this so consequential?
• 40:50
  It doesn't matter. If you're living in the most
• 40:53
  totalitarian country, let's give the example of North Korea.
• 40:56
  Now, with Bitcoin, you for the first hint, time in your life,
• 41:01
  have the chance to own private property, even in that
• 41:04
  totalitarian state without fear of censorship or government
• 41:10
  seizure, they would need to find out that you have that Bitcoin
• 41:13
  wallet and they would still need to find out your sea.
• 41:15
  Of course, you know, they could torture you, they could put you
• 41:18
  in a box that can tell you that in there you they could tell you
• 41:21
  that you're not. Not going anywhere, fine.
• 41:23
  A government or a nation-state could definitely do that on an
• 41:26
  individual by individual basis, but try doing that to a whole
• 41:30
  country's population how you going to convince a whole bunch
• 41:34
  of people? Hey hand over your Bitcoin seed,
• 41:38
  for your safety and this, ladies and gentlemen, because it's so
• 41:43
  hard to stop the signal. It's so hard for governments to
• 41:46
  confiscate and redistribute wealth.
• 41:48
  Effectively is why I believe this.
• 41:51
  Is going to completely change, the relationship between
• 41:55
  individuals and their governments.
• 41:57
  And this is going to change the dynamic.
• 41:59
  And eventually in, this is the theory in the sovereign
• 42:01
  individual. You're going to start to see a
• 42:04
  customer type relationship with governments rather than the one
• 42:08
  that they have today, which is more like Russian surf, pay your
• 42:11
  taxes, shut up. Inflation is high.
• 42:13
  We're going to hire 87,000 agents.
• 42:16
  Just to make sure that you don't complain too much with Bitcoin.
• 42:20
  It gives you the power to vote. With your wallet and vote with
• 42:22
  your feet. And now I suspect you're going
• 42:25
  to see more and more Sovereign individuals going to
• 42:28
  jurisdictions in which they are treated best.
• 42:31
  And we already started to see that a little bit with Bitcoin
• 42:34
  Miners and how they on a completely decentralized basis,
• 42:38
  following their own incentives migrated from China to the
• 42:43
  United States looking for financial opportunity, looking
• 42:47
  for profit. And that profit I think is one
• 42:49
  of the best incentives ever created.
• 42:51
  And it is definitely a lot stronger than the only thing
• 42:54
  they have left, which is coercion.
• 42:56
  Anyways, Opti, what are your thoughts brother?
• 42:59
  Well, Nico, I'm really glad that you covered this.
• 43:02
  This article Chef's out to that company.
• 43:04
  My chinkara, I believe it means money or something of the like
• 43:08
  in. And I don't know what language.
• 43:11
  But anyways, I was going to cover this for the culture, but
• 43:14
  I was going to cover in a different light and it's
• 43:17
  essentially the signal is, spreading guys to the places
• 43:20
  that need it first. First.
• 43:22
  And, you know, like a lot of people can say what they want
• 43:25
  about Bitcoin in the first world, or what have you.
• 43:27
  But as we've seen countries in the third world and individuals
• 43:31
  are adopting Bitcoin, and this is absolutely bullish because
• 43:36
  imagine just just having really bad, bad currencies, and that
• 43:41
  being your only option and then further more than you have to go
• 43:44
  to the ultimate shit coin, which is the dollar.
• 43:47
  But, you know, the signal spreading.
• 43:49
  And the people that Bitcoin will get Bitcoin first and those that
• 43:58
  we don't paint in good light will get Bitcoin last.
• 44:01
  And this is a feature, not a bug.
• 44:02
  So shout-out to imagine Cora. I think this is a really
• 44:05
  awesome. I listened to a space over the
• 44:07
  weekend and super bullish on this idea and also shouts out to
• 44:11
  us TECO. They partnered with my chinkara,
• 44:13
  one of my favorite Bitcoin companies and I just love what
• 44:17
  they're doing, this is just absolutely bullish in my
• 44:19
  opinion. I can't wait to see this this
• 44:21
  This type of Bitcoin product spread out across the world
• 44:26
  because people need Bitcoin and the signal can't be stopped.
• 44:31
  So like this is this is I think also just a testament to what
• 44:36
  Niko we says, you know people cannot fathom the idea of
• 44:39
  innovation and how humans can innovate and continue to Route
• 44:43
  Around The Legacy system. And this is just another example
• 44:48
  of that man, you know like first we have El Salvador.
• 44:50
  Now we have what Like Bitcoin Lake in Guatemala.
• 44:53
  We have a few more Latin American countries that are
• 44:56
  doing their own initiatives, to spread the sound money gospel.
• 45:00
  And now we're continuing to do this on the African continent,
• 45:04
  it just absolutely bullish. I'm really excited to see how
• 45:07
  far this product goes and and this company goes and how many
• 45:11
  users they can get. And then furthermore, just to
• 45:14
  see more people and more Domino's follow along with with
• 45:17
  this kind of product or these kind of ideas.
• 45:19
  So, in my opinion, absolutely Bulletproof.
• 45:21
  Josh, I'm really glad that we covered this one.
• 45:27
  You're muted, Nico, your thoughts Alex, and then we'll
• 45:29
  move on to the culture. Sure.
• 45:33
  Yeah, I think that the The whole idea of Distributing it out,
• 45:42
  it's sort of an echo you know, in an easy format.
• 45:46
  So text message or whatever or having these other ways to get
• 45:51
  it over ham radio you know into third world countries.
• 45:56
  It's sort of an echo of El. Salvador are dropping which as a
• 46:02
  Libertarian and me didn't like a whole lot because it's kind of
• 46:06
  like a you VI in a way to just tear drop money free money on
• 46:10
  people or free Bitcoin on people.
• 46:12
  So the interesting thing that happens when you imagine a whole
• 46:20
  lot more suddenly a whole lot more medium of exchange
• 46:23
  occurring in a given Zone like El Salvador or even with all
• 46:28
  these little text message, transactional, things happening
• 46:32
  say in Africa. Is that the velocity goes up,
• 46:35
  right? The monetary value, Velocity
• 46:37
  goes up by a lot for the sets that are actually being used to
• 46:40
  trade goods and services on the ground in the real economy.
• 46:43
  And it's not clear to me just the economics of that.
• 46:48
  Oh whether or not that you know what that would do for the
• 46:52
  dollar price, right? But the certainly the local
• 46:55
  currency that it's replacing like the naira Nigeria or
• 46:59
  something is going to be competing, then against directly
• 47:03
  against that. And so the response of
• 47:05
  governments is Is huge because then at that point, they're
• 47:10
  going to see that as a direct threat to their currency like
• 47:12
  erdowan did in turkey and they're going to respond with a
• 47:17
  feedback loop of tyranny or you know, forcing people to do
• 47:21
  certain things. And before I came on Nico I was
• 47:25
  reading up about the Venezuelan hyperinflation a little bit and
• 47:29
  you know Maduro even made it illegal to post the real
• 47:32
  numbers. I guess of what was going on
• 47:34
  with the inflation and things like that.
• 47:36
  That. So it's it's so much of this
• 47:40
  currency war on the hyper, local level.
• 47:43
  And a lot of these innovations that are going to push it to be
• 47:47
  medium of exchange. At that local level are going to
• 47:50
  trigger governments, to do more and more stupid stuff.
• 47:54
  Yep, absolutely Opti. Let's move on to the Daily
• 48:01
  Culture by Akasha. Daily culture brought to you by
• 48:07
  Swan Bitcoin.com. Swan is the best way to build
• 48:11
  your Bitcoin stack with automated Bitcoin savings plans
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  tickets to Pacific Bitcoin. All right, guys.
• 49:00
  Well, as I told you at the beginning of this show we get a
• 49:05
  lot of shit for our sponsors and what we do and Shout out the
• 49:09
  swan. This is the swan segment.
• 49:11
  So this is a tweet that we were going to comment at the
• 49:15
  beginning of the week but we have so much good signal that we
• 49:18
  just didn't get to it and I figured that it would be better
• 49:21
  than for us to cover in the culture section.
• 49:23
  So I got this tweet. I'm going to read it.
• 49:26
  And then I got a couple tweet threads, that I think will make
• 49:29
  my point for me, and then we can talk about this.
• 49:32
  So we got Dennis Parker. He is quoting our, our clip that
• 49:37
  we did of US Government shuts, down deeper actually, this is a
• 49:39
  whole video and then we got a response by basil--oh Nico
• 49:43
  simply Bitcoin TV. Great podcast, enjoying it, it's
• 49:46
  a bit odd by promoting Swan. Basically, you guys are
• 49:49
  suggesting to buy kyc coins, but at the same time, you want
• 49:52
  privacy, anonymity and fun. Ability using Bitcoin in terms
• 49:56
  of fungibility kyc is the enemy a bit controversial in general.
• 50:01
  And while yes I can see what people are saying.
• 50:05
  But if you guys ever heard me in the space and I'll speak for
• 50:09
  myself and he Co you can add on your two sets afterwards.
• 50:12
  I tell people very straight up. Look, buy Bitcoin, however you
• 50:16
  want. I am not here to tell you guys
• 50:18
  what to do with your money and with your decisions.
• 50:21
  But if you are going to use an exchange, We love Swan.
• 50:26
  They are friends, they are bitcoiners, there are Bitcoin
• 50:28
  only company. And yes, I know, we can get into
• 50:32
  the weeds and the Nuance later, but I fundamentally believe that
• 50:37
  you just need to buy Bitcoin. Whatever is is, you know the
• 50:41
  most accommodating to your life. I can't tell you what's the best
• 50:45
  way to buy your Bitcoin? But I am definitely a fan of non
• 50:48
  kyc Bitcoin. If you can do that with your
• 50:51
  money, then by all means, by non kyc.
• 50:55
  But furthermore, in my opinion and this idea was sparked
• 50:59
  yesterday and I'm glad that I had someone with a lot more
• 51:04
  experience in in things than myself yesterday.
• 51:08
  And I'm referencing the interview that Nico did with
• 51:11
  Lawrence. And Stephen Lawrence made a
• 51:14
  point yesterday and I'm glad that he made it because I've
• 51:17
  been thinking this and I just thought, like, oh, I'm just
• 51:20
  naive Opti, you know, I'm always thinking for the best and I'm
• 51:24
  hopeful for the future, and he made a point.
• 51:26
  And I've been, I've been going back and forth in this, and I
• 51:29
  kind of just felt like, oh, this is just a dumb take by Opti, but
• 51:32
  he said, what I've been thinking for a while is that the Legacy
• 51:35
  system as is doesn't even have the resources to, to track and
• 51:40
  bag everyone in the system that control, let alone one that is
• 51:46
  completely outside of their provision in their control,
• 51:48
  which is Bitcoin. And furthermore, even if I
• 51:52
  double down on that, which we all know, That the IRS just
• 51:56
  bought 80s are just hired 87,000 agents to essentially track and
• 52:00
  bag you and make sure that you're paying your taxes.
• 52:04
  In my opinion, the whole idea of self custody makes this all in a
• 52:11
  relevant Point. Once we have everyone on
• 52:14
  bitcoin, Iran, lay or twos or whatever.
• 52:16
  What have you in the future? I don't think that this even
• 52:20
  will matter. This is just part of the
• 52:22
  transition as we always say, yes.
• 52:24
  Bitcoin is inevitable. Bitcoin will win but The
• 52:29
  transition is the part that we are worried about and while you
• 52:32
  may think that I'm not being consistent in my messaging guys
• 52:37
  just get Bitcoin as much as you can.
• 52:41
  However you can and then spread that signal to everyone you
• 52:44
  know, so that they can do the same thing.
• 52:47
  And of course you need to take this Bitcoin into self custody
• 52:52
  because self custody is the revolution.
• 52:55
  Once you have the Bitcoin in your private Keys as far as I'm
• 52:59
  concerned. It really doesn't matter what is
• 53:01
  going on in the state tracking of it.
• 53:05
  It's like guys if you are a bit corner I am almost positive.
• 53:09
  You are on some list somewhere for the your radical thoughts.
• 53:12
  Like I am not concerned about being on a list.
• 53:15
  You guys see my face. Now like I'm probably been on a
• 53:18
  list since I was 13 years old, it doesn't concern me.
• 53:22
  Like, I've been on rabbit holes Forever on the wrong websites.
• 53:26
  I am a proud wrong thinker. Her.
• 53:29
  So I know the concern, tisk tisk.
• 53:32
  Yeah. Exactly.
• 53:33
  I know that in this urn of it's a lot better to buy your Bitcoin
• 53:36
  on kyc so that you aren't on these lists.
• 53:39
  Yes, I agree with this. But furthermore, not everyone is
• 53:43
  as Savage and as you know, as much of a Bitcoin or as you
• 53:50
  enter, I know, I know this camera, I'm sorry Nica, my
• 53:53
  camera isn't on on fleek today, but anyways, I am full.
• 53:59
  Convinced and and yesterday, Lawrence kind of echoed.
• 54:03
  What I what I was saying, and I'm glad he did, because he's
• 54:06
  way older than me. He has a lot more experience in
• 54:08
  this and furthermore he he seemed to be a proud truther
• 54:13
  which I am shouts out the producer Jacob.
• 54:15
  I will get a tinfoil hat in here for you guys because I think
• 54:18
  that's hilarious. But guys, I fundamentally
• 54:21
  believe that it is certain a certain Tipping Point all this
• 54:25
  is moot because they can't control the system that we have
• 54:28
  now. Now, they do not have the
• 54:30
  resources to, to come to everyone's house and and bring
• 54:34
  us all to jail. It's just physically and
• 54:38
  financially impossible. So, yes, if you can get your
• 54:42
  Bitcoin on kyc, I encourage it. But if you're like most people
• 54:46
  and you're trading your security for convenient guys, we love
• 54:50
  Swan. We think they're, they're cool
• 54:52
  people. They're awesome chefs out to
• 54:54
  Cory. He's been slaying people on
• 54:55
  Twitter but furthermore, I saw this strange Yesterday, and I
• 55:00
  thought it fit in perfectly with what we are talking about and
• 55:04
  this is by I only Apple Berg and he goes most people hot okay?
• 55:07
  Y c coins, clearly a possible future attack.
• 55:10
  Vector, for the state, 100% agree.
• 55:12
  But this is where we are guys. I'm not in some fantasy land of,
• 55:16
  you know, theoretical as I meet people, where they are and a lot
• 55:21
  of people initially down their Journey aren't as Savage aren't
• 55:26
  as orange pill, darn aware of all these concerns And while
• 55:29
  yes, we'd love to get them down to two, you know, using Azteca
• 55:33
  or ATMs or whatever. We like Swan, they're our
• 55:37
  friends, and we think they're doing a great job.
• 55:40
  They are on the mission of spreading the sound money
• 55:42
  gospel, but how do we get out of this pickle?
• 55:46
  And I, of course, I'm going to show this message because he
• 55:49
  sums it up in a tweet. And this is by a tell.
• 55:51
  I'm not gonna goes how will the state funds its attack if their
• 55:54
  Fiat has become completely worthless who will work for
• 55:58
  them, guys? You need to understand that the
• 56:02
  state is paid with fake, funny money paper, iou's And at a
• 56:06
  certain extent, the person, the individual, the guy that just
• 56:10
  needs to work a job to get by will not take Fiat funny money
• 56:16
  for these services and this whole house of cards will
• 56:19
  crumble. When will this happen?
• 56:21
  I have no clue. But I know that this is going to
• 56:23
  happen. This is inevitable and like look
• 56:26
  you guys can call this a fail on my part.
• 56:29
  What have you? I'm okay with that.
• 56:30
  But I've been saying forever. We are Sapphire Sapphire, excuse
• 56:34
  me, sacrificial lamb. Alms.
• 56:36
  We are the Pioneers, we are the ones taking on the risk.
• 56:39
  And I fundamentally believe that in the future Humanity will look
• 56:42
  back at us and be like those crazy motherfuckers.
• 56:45
  I am so thankful for the risks that they took on because we are
• 56:49
  just trying to get Bitcoin in the hands of anyone.
• 56:52
  Any way possible because we understand that the Fiat system
• 56:56
  is robbing you. It is stealing your life force
• 56:59
  and has been doing it for hundreds of years and will
• 57:01
  continue to do this unless you take back your money.
• 57:03
  The self the revolution is self custody.
• 57:06
  But furthermore, I really like this comment by Wicked smart
• 57:09
  Bitcoin. And he goes, how are we going to
• 57:11
  get out of this pickle? And his response is circular
• 57:14
  economy's mixing by default, the use of lightning and fed immense
• 57:17
  to office. Kate, transactions, even further
• 57:20
  surveillance will get more and more difficult, option
• 57:22
  continues, increasing and more privacy focused, tools are built
• 57:27
  out. And I agree with this guy's.
• 57:29
  As these privacy, tools get built out.
• 57:32
  I think this is going to be a non concern.
• 57:34
  I always say it all the time. Time sometimes we get really
• 57:37
  focused on the trees and we need to zoom out for the forest and
• 57:40
  while, yes, I understand that the state hates you and they are
• 57:43
  the real enemy. And at times you know my cold
• 57:48
  storage may not be fully set up for a nation state level attack.
• 57:53
  But what is one of the protocols of privacy hide in a big crowd.
• 57:59
  So we are here to spread the sound money gospel to as many
• 58:02
  people possible so that we have an even bigger crowd of
• 58:05
  bitcoiners out. And even, I know Nico is gonna
• 58:09
  gonna, I know Nico is do the caveat of don't break the laws,
• 58:12
  but I got to put in some toxic Bitcoin takes in here and we got
• 58:16
  Giacomo in here and he goes how you going to get out of this
• 58:18
  pickle and Giacomo, goes, mix and lie.
• 58:21
  Agreed and then GG goes mix and shut the fuck up and he does
• 58:27
  this post of, I forget what it's called is like shut the fuck up
• 58:30
  Friday and it's these lawyers talking about the marijuana and
• 58:34
  if you should get caught in the Marijuana industry.
• 58:37
  I put the link in the description.
• 58:39
  So if you haven't seen this video, I highly recommend you
• 58:43
  watch this video and you will get where we're coming from
• 58:46
  anyways, to add to this. How are we going to get out of
• 58:50
  this? Pickle is creating your own
• 58:52
  circular economies and Estefan. Lovera put in a tweet normalized
• 58:56
  paying back your family and friends using Bitcoin are
• 58:58
  lightning. That way they can pay a fee up
• 59:00
  but you pay them with SATs into easy while it's like Moon
• 59:03
  Phoenix or Breeze and this is also what I like To Advocate is
• 59:07
  guys. Use Bitcoin peer-to-peer spread
• 59:11
  Bitcoin to your friends and families any way possible.
• 59:14
  I know you guys don't like to spend your Bitcoin but you guys
• 59:18
  need to make sure that people are getting Bitcoin that want to
• 59:21
  use Bitcoin that want to save Bitcoin.
• 59:23
  And I say it all the time. The best way to orange pill,
• 59:26
  people is for them to use it, to hold it to understand that there
• 59:29
  is no middleman that that they are free that they have personal
• 59:34
  responsibility in their money. And again guys you can call me
• 59:37
  naive but I also have other people.
• 59:41
  Echoing these ideas that look at Dave should duel.
• 59:44
  Oh excuse me he goes they don't have the manpower to go door
• 59:48
  knocking. It's a non-issue, I completely
• 59:51
  agree and furthermore Magoo ha don't we go self?
• 59:54
  Custody is so much more value than you could ever imagine.
• 59:57
  And this is the message that we tell you guys self custody is
• 1:00:01
  the Revolution and my boy, based money profit.
• 1:00:04
  The money tank quoted. Instead the revolution is self
• 1:00:07
  custody guys I fundamentally believe that at a certain point
• 1:00:12
  of certain Tipping Point, this all is going to be moot.
• 1:00:15
  Anyways, buy Bitcoin, however you want spread the sound money
• 1:00:20
  gospel, any way possible, do your best to give people the the
• 1:00:25
  best upfront advice, but you got to meet people where they are.
• 1:00:30
  And a lot of people aren't ready to take these steps up front and
• 1:00:34
  that's okay we just need Bitcoin in the hands of people.
• 1:00:38
  We need people taking self custody and guys hit me in the
• 1:00:42
  comment, hit me on Twitter. If you think I'm being naive if
• 1:00:44
  you think this should be mopped he's fail portion.
• 1:00:48
  But anyways I see that we already running an hour in so
• 1:00:52
  Nico. What's your comments?
• 1:00:54
  And then we'll get into the meme scores, dude.
• 1:00:56
  I don't know what it was. It was timing or something, but
• 1:00:59
  I'm Rico. The power goes out.
• 1:01:01
  I literally the power dropped out on me.
• 1:01:04
  And luckily I came back and Opti with still, you know, still
• 1:01:08
  doing his bit so and it was like a second after opt.
• 1:01:11
  He's camera failed once again. Yeah.
• 1:01:14
  So the fun of doing this live anyways.
• 1:01:18
  Are you coming to us via ham radio now or yeah?
• 1:01:21
  Right. Do you imagine the the signal?
• 1:01:24
  Okay, so yeah, so let's talk a little bit about this is a great
• 1:01:27
  topic by the way Opti, right? Look the reality is that the kyc
• 1:01:34
  exchanges have the most amount of liquidity.
• 1:01:36
  They also have the best prices, the price.
• 1:01:38
  You pay is that you yourself, and you probably put yourself on
• 1:01:42
  a list that they're definitely making now that they hired
• 1:01:44
  87,000 agents. Now, what about kyc free?
• 1:01:50
  That's how most of the world works.
• 1:01:51
  Most of the world does that because they don't have the
• 1:01:54
  rails that we have in the western world.
• 1:01:58
  So bisque is a good solution, localbitcoins was kyc, free at
• 1:02:04
  one point, but of course they were big enough they eventually
• 1:02:07
  got captured. So again unless it's fully
• 1:02:09
  decentralized, it will get captured.
• 1:02:11
  Its inevitability. The people that use the
• 1:02:14
  loopholes to circumvent it. If it's a company, it will get
• 1:02:18
  captured, there will be pressure, that US government is
• 1:02:20
  Relentless Swiss banking in the 80s.
• 1:02:24
  It was so secure that. All they would just give you a
• 1:02:27
  number. There is No.
• 1:02:28
  Name associated to that account, right?
• 1:02:30
  It was a private number over time, the regulatory Onslaught
• 1:02:35
  that eventually broke and now Switzerland.
• 1:02:38
  It's getting to the point that they don't even want American
• 1:02:41
  citizens, opening bank accounts there because they don't even
• 1:02:44
  feel like dealing with the regulations.
• 1:02:46
  It's got in like that. So yeah, don't underestimate the
• 1:02:49
  government. They will get it eventually, but
• 1:02:53
  kyc, free Solutions are still an honor.
• 1:02:56
  If you're just doing peer to peer, Here, if you're doing
• 1:02:58
  peer-to-peer, you know, someone that has Bitcoin you want to
• 1:03:00
  give them Fiat for. I don't know what reason, right?
• 1:03:03
  You could do it that way. Now, of course follow the laws
• 1:03:06
  and regulations color within the lines, but you get what I'm
• 1:03:10
  saying? Just really feels like a if you
• 1:03:16
  can't beat them. Join them situation.
• 1:03:18
  Another acid. Yeah.
• 1:03:20
  Sorry another another aspect of this, the internet's going crazy
• 1:03:23
  here. Another aspect of this, right?
• 1:03:25
  Is, you could always mine Bitcoin, you mine Bitcoin.
• 1:03:28
  Or they're going to try to do this, but they're not going to
• 1:03:30
  be able to KY C. KY C freesat now is kyc freesat,
• 1:03:37
  important. Absolutely, I think it's vital
• 1:03:40
  that you have a kyc, free sat stack.
• 1:03:44
  No one knows about that is completely separated from your
• 1:03:48
  KY, C. KY C SATs, right?
• 1:03:53
  But you have to understand. Just because they have that
• 1:03:58
  Bitcoin doesn't mean they can get to that Bitcoin and that is
• 1:04:02
  why we always emphasize self. Custody is how you win fine.
• 1:04:08
  Let's say the state knows that you bought just throwing it out
• 1:04:12
  there one Bitcoin, right? They know you have it.
• 1:04:17
  What if you sent that to it to a multisig and which the C's are
• 1:04:22
  geographically, separated multiple jurisdictions, they
• 1:04:25
  might know you have it. How they going to do that?
• 1:04:30
  How they're going to get to that Bitcoin, it's going to be very
• 1:04:33
  hard for them to do. So they might be able to put
• 1:04:35
  someone in a box, which is what the book, The sovereign
• 1:04:38
  individual predicts that as the welfare states start it.
• 1:04:42
  They start having problems collecting more.
• 1:04:48
  System lose me again, I might come in and out your back, your
• 1:04:54
  best. So like the sovereign individual
• 1:04:57
  predicts, right? Is that you might see abductions
• 1:05:00
  and people being held to Ransom. So they pay, you know, the
• 1:05:03
  government, they're there their tax revenue right.
• 1:05:06
  But at the end of the day, what you what is really important
• 1:05:09
  privacy is important without a doubt.
• 1:05:11
  What is really important is taking your Bitcoin into self
• 1:05:14
  custody and then curing that That that Bitcoin properly,
• 1:05:19
  through proper seed management. I really recommend multisig, I
• 1:05:24
  really recommend geographically separating your seeds, ideally
• 1:05:28
  in different countries, because if they do that, then it becomes
• 1:05:32
  very difficult for them to get your Bitcoin.
• 1:05:36
  And at the end of the day, what Bitcoin does is it shifts?
• 1:05:39
  The balance of power from the government, from the state, back
• 1:05:43
  to the individual. It gives the individual the
• 1:05:46
  power to go. Go where they're treated best
• 1:05:48
  but only if you have that self custody only if you have that
• 1:05:51
  Bitcoin under self custody, so yes, I agree.
• 1:05:54
  I think the whole kyc system is incompatible with Bitcoin.
• 1:06:00
  I don't think, I think that the Clash is going to be so hard.
• 1:06:03
  I think that it's inevitable that they say, oh, you can only
• 1:06:07
  run and ofac compliant us sanctioned node because if you
• 1:06:11
  don't do that, you're against us sanctions, I think that this is
• 1:06:15
  where that's going. but if you have Bitcoin in self custody,
• 1:06:22
  You move the balance of power to your favor and there's a mean
• 1:06:25
  that we always talk about which is I lost it in a boating
• 1:06:29
  accident just because they see that your Bitcoin is in a
• 1:06:33
  certain address. What if you send it to a coin
• 1:06:36
  join what if you send it to another address and they're
• 1:06:39
  like, yo give me that. I'm like I don't have the keys
• 1:06:41
  to that. The point is that they might be
• 1:06:44
  able to do it to a handful of people, but if you have millions
• 1:06:48
  upon millions of people holding their Bitcoin itself, D, we win
• 1:06:54
  this, no matter what they try to do.
• 1:06:56
  Because their laws of the old system are only enforceable in
• 1:07:01
  the old system in Bitcoin, they start to become unenforceable
• 1:07:05
  and I'm going to give an example and then we'll pass it on to
• 1:07:07
  Alex then we'll get to the meme review.
• 1:07:09
  Look, do you know the existing money transmitting laws right?
• 1:07:14
  When you go to a foreign airport, right?
• 1:07:18
  You pass through security, they tell you the first thing they
• 1:07:20
  tell you, you have 10,000 dollars in cash.
• 1:07:23
  Do you have the equivalent of ten thousand dollars in a gold
• 1:07:25
  bar and diamonds? Do you have it on you, right?
• 1:07:28
  That's the one of the first things that they ask you.
• 1:07:32
  You could memorize 12 words in your head how they going to get
• 1:07:36
  that effectively? How or let's say fine, they take
• 1:07:41
  your Hardware wallet. Okay?
• 1:07:46
  What are they going to do with it?
• 1:07:47
  If it's a multisig. What are they going to do with
• 1:07:49
  it? It's a useless piece of
• 1:07:51
  hardware. And then not to mention all the
• 1:07:54
  muscles again, thought experiment, actually, all the
• 1:07:56
  money that they have to spend trying to enforce these laws
• 1:08:00
  that aren't effective at stopping the thing that they're
• 1:08:03
  trying to stop. That's where this is going,
• 1:08:07
  right? So yes I get it.
• 1:08:09
  Kyc sucks. I understand your point.
• 1:08:13
  It's incompatible with Bitcoin. It's going to be such a hardcore
• 1:08:16
  Clash. I'm all for it, but do you want
• 1:08:20
  to Stack? Try stacking more than five
• 1:08:23
  thousand dollars USD your the equivalent of 5000 USD on
• 1:08:29
  bisque. Try doing that day after day,
• 1:08:31
  you're going to pay a premium five to nine percent and pay
• 1:08:35
  five to nine percent premium. And then not to mention is the
• 1:08:38
  liquidity there and not to mention, you actually have to do
• 1:08:42
  a physical transaction because the way that business works
• 1:08:45
  right now is you're depositing money into a bank account and
• 1:08:48
  how long until that loop hole gets closed with the, with the
• 1:08:51
  You 85,000 87,000 IRS agents. The point that I'm trying to
• 1:08:56
  make right? Is that the best protection that
• 1:08:59
  you have is taking self custody of your Bitcoin?
• 1:09:02
  That is number one privacy, very important not trying to take
• 1:09:06
  away from it, run your own no time for that earn Bitcoin
• 1:09:10
  earning Bitcoin is the best thing that you could do because
• 1:09:13
  that throws them off even more. It's like, oh, that Bitcoin was
• 1:09:16
  supposed to be meant for that person.
• 1:09:18
  But now it's there. It's like, this is Unenforceable
• 1:09:22
  as what I'm trying to say. So yes kyc am L.
• 1:09:27
  It's an enemy of Bitcoin that Clash is going to happen or
• 1:09:30
  pushing for it. The right people are on it, very
• 1:09:32
  smart. People are doing the research.
• 1:09:34
  We've had entire episodes dedicated to revealing the scam
• 1:09:40
  that is kyc and am L. We got a kyc and am L expert on
• 1:09:44
  the episode to debunk how useless that system is.
• 1:09:49
  But you have to fight the battle with the tools at hand and this
• 1:09:54
  is where we are this moment in time.
• 1:09:56
  And of course I know a lot of people are going to disagree
• 1:09:58
  with me but I think I'm entitled to my own opinion.
• 1:10:01
  Anyways. Alex.
• 1:10:02
  What are your thoughts brother? You sure.
• 1:10:05
  Well, I've wrapped up a few thoughts while I'm listening to
• 1:10:08
  you this is why on Twitter, I say pretty often like a broken
• 1:10:13
  record that no matter how passionate we are about Bitcoin
• 1:10:16
  there. There is never an opt-out to
• 1:10:19
  Politics as defined by any more than two people in a room.
• 1:10:25
  You've got politics, right? So, You know, that's why I'm
• 1:10:29
  wearing my little porcupine, my little libertarian pin on my
• 1:10:33
  pal. It's because, you know, the
• 1:10:36
  whole point of standing up and trying to fight for liberty and
• 1:10:42
  for something that's more authentic Liberty.
• 1:10:45
  Right? Is to put forth, really good
• 1:10:47
  ideas about how to manage the kind of, you know, necessary
• 1:10:53
  evil of whatever state is left over after, after we, you know,
• 1:10:58
  Mantle, a lot of the BS, a lot of the bureaucracy, the whole
• 1:11:06
  rant that you were just on made me think, you know, it's a, you
• 1:11:10
  can't beat them. Join them situation where the
• 1:11:12
  government needs to really be thinking about.
• 1:11:15
  Now, wait a second, what are some like they did Del Salvador
• 1:11:19
  Central African Republic. Like what are some of the ways
• 1:11:21
  we could actually benefit from maybe not?
• 1:11:26
  Being idiotic and totalitarian and, you know, sacrificing our
• 1:11:30
  core values. We just America's founding is
• 1:11:33
  all about really, the sovereign individual.
• 1:11:36
  Like you said, I mean, we are rediscovering Our Roots by, you
• 1:11:41
  know, discovering Bitcoin, we're rediscovering our core values as
• 1:11:44
  Americans really. And and realizing that there was
• 1:11:48
  a big mistake that was made with fiat currency that a lot of our
• 1:11:53
  Founders warned against a Jefferson warned.
• 1:11:56
  You know? So that's where.
• 1:11:58
  Now we can ask the question. Okay.
• 1:11:59
  Well, what is the US dollar then?
• 1:12:04
  Does it reflect our values? Could it again, someday reflect
• 1:12:08
  our values? Could we Peg the US dollar Fiat
• 1:12:12
  as it is to bitcoin? And to make to make the u.s.
• 1:12:16
  dollars semi sound again. I know I think that's got some
• 1:12:21
  possibility to it but ultimately, you know, There's no
• 1:12:26
  reason for them to spin their wheels and fight this thing and
• 1:12:30
  the thought experiment that I had when you talk about Crossing
• 1:12:32
  Borders and I live right on the Canadian border.
• 1:12:35
  So declaring, yeah, if you've got something of high value on
• 1:12:39
  you and your Crossing Borders, that's definitely a thing.
• 1:12:42
  You can just bring, you know, big suitcases of cash or
• 1:12:45
  something across borders and have that be cool or big gold
• 1:12:48
  bars, but let's take something very tiny.
• 1:12:52
  Which essentially, you know, a seed phrases weightless and tell
• 1:12:55
  me I'm going to long but, you know, let's say that there's
• 1:12:59
  some sort of Rarity or some kind of collectible premium or value
• 1:13:03
  onto some very, very tiny diamond or, you know, piece of
• 1:13:07
  precious metal or something. And it's so small, like it's,
• 1:13:11
  you know, basically weightless like a, you know, steel plate
• 1:13:15
  with your seed phrase or whatever.
• 1:13:16
  It's very, very small, but the value is through the roof,
• 1:13:21
  right? And so, if you're crossing a
• 1:13:23
  border with something, just because it's got a huge value,
• 1:13:25
  but it's Basically weightless, you know the the the whole
• 1:13:34
  threat that that represents is completely imaginary, right?
• 1:13:38
  You'd have to liquidate the thing for the currency.
• 1:13:40
  It would be the local currency if you were liquidating it.
• 1:13:43
  Anyway, so it's a completely imaginary threat to that
• 1:13:46
  economy. It's not like you're Crossing
• 1:13:48
  with, I don't know, Apple, maggots and infecting their
• 1:13:52
  local Orchards or something. You know, there's just nothing
• 1:13:54
  there that's going to be problematic.
• 1:13:56
  If you're a dual Citizen and you're moving into that country,
• 1:13:58
  you liquidate it for their local Fiat.
• 1:14:01
  This thing of high value you're going to pay tax in theory on
• 1:14:05
  the liquidation into their local Fiat.
• 1:14:07
  So I mean it's just obviously they want to prevent I guess
• 1:14:13
  terrorist financing or the all this money laundering and all
• 1:14:17
  all this stuff they want to come somehow I have on an
• 1:14:20
  international scale. This ability to track flows of
• 1:14:23
  assets across Borders or Something but it gets into a
• 1:14:29
  zone of just Ridiculousness. So yeah they they can't fight at
• 1:14:34
  all and then there's a right way to do it in a wrong way to do
• 1:14:38
  it. Absolutely.
• 1:14:39
  It just the existing regulations become unenforceable on, you
• 1:14:43
  know and then just kind of add into the mix Opti.
• 1:14:46
  Let's skip the mean review today because it's a good conversation
• 1:14:48
  will go straight to the software release but The, the the laws of
• 1:14:54
  old just become unenforceable under a Bitcoin standard, right?
• 1:14:58
  The, I think that when more and more people wake up to the fact
• 1:15:01
  that, why am I earning and dollars?
• 1:15:05
  Doesn't make sense. Why am I, why am I turning in a
• 1:15:08
  money that's constantly being devalue?
• 1:15:10
  Why is that the only thing they really have on us?
• 1:15:14
  And that's until Bitcoin starts to get into the very, very high
• 1:15:18
  numbers. And then you'll start to see
• 1:15:19
  less and less volatility is that they could make the case at this
• 1:15:24
  moment in time, is that in the short term Fiat provides better
• 1:15:27
  stability than Bitcoin and stability it.
• 1:15:31
  When it comes to pricing things is pretty important, right?
• 1:15:34
  Because if not Have to change the things all the time, Bitcoin
• 1:15:37
  is pretty volatile but the thing is if you start zooming out on a
• 1:15:40
  23 year, timescale Fiat goes down Bitcoin goes up like that,
• 1:15:45
  right? So I mean that's really the only
• 1:15:48
  thing they have left. That's the only thing they're
• 1:15:50
  clinging onto and there is actually a Fed tweet.
• 1:15:53
  That was literally talking about how Bitcoin was too volatile,
• 1:15:57
  but if you even use their own metric and you zoom out, you
• 1:16:01
  know, it even with their metrics, you can call bullshit
• 1:16:04
  with their tools. Tools, right?
• 1:16:05
  That the one where they were pricing eggs and SATs, yeah,
• 1:16:08
  exit SATs and then, dude, and then they got absolutely
• 1:16:11
  wrecked, right? So, but ya gotta respect that
• 1:16:15
  they didn't turn off the replies.
• 1:16:17
  I mean, at least they, there's a there.
• 1:16:19
  So disconnected and like, look, let me literally let me pull it
• 1:16:22
  up, check this out. This is priced in Bitcoin, one
• 1:16:25
  of my favorite, I love sets, I love that, right here's eggs.
• 1:16:28
  And this is what I was talking about, right on a year basis.
• 1:16:31
  Yeah, maybe you're right, it's too volatile, right?
• 1:16:34
  But I Your bases eggs are 27 percent cheaper on a five-year
• 1:16:39
  basis. Eggs are 74 percent cheaper.
• 1:16:41
  This is with all the inflation. This is with all the money
• 1:16:44
  Printing and this is still with Bitcoin, 70% down and eggs are
• 1:16:49
  still 75 percent cheaper. And that's why Bitcoin is the
• 1:16:52
  best savings technology. The world has ever seen.
• 1:16:54
  And the real irony of that is there are hardly any Bitcoin
• 1:16:58
  denominated zones in the world. So by their own definition of
• 1:17:02
  price level inflation, deflation So they cause the price of
• 1:17:06
  Bitcoin to go down. Well, there are hardly any
• 1:17:09
  Geographic zones that did nominate goods and services in
• 1:17:12
  the real economy and SATs. So so they could say, oh well
• 1:17:15
  those areas now have inflation. Which area is there are hardly
• 1:17:20
  any right and this and even El Salvador is not really dumb and
• 1:17:24
  it's not really sad Stu nominated.
• 1:17:26
  El Salvador is, is a dual currency country.
• 1:17:29
  It's mostly dollar-denominated. Still, that's why they did it.
• 1:17:32
  They did it because it was because their dollars got
• 1:17:35
  stronger, you know, they didn't have their own, they didn't
• 1:17:38
  control their monetary policy. So that's exactly why they chose
• 1:17:42
  something like Bitcoin. But anyways, Opti let's move on
• 1:17:47
  to the South Ever news. Bitcoin software release,
• 1:17:53
  brought to you by Cipher safe, don't be that person.
• 1:17:56
  That stores their Bitcoin seed on paper paper is prone to water
• 1:18:00
  damage, fire damage, dog attacks everything your seat could be
• 1:18:04
  eaten by dogs or cats or animals.
• 1:18:07
  If you store it on paper, you definitely want to store your
• 1:18:10
  seed on steel and there's no better place to do it.
• 1:18:13
  Then the cipher safe, get yourself a Cipher wheel or
• 1:18:17
  Cipher grid today. Visit Cipher safe, dot IO.
• 1:18:21
  All right guys. Well I'm just as disappointed as
• 1:18:25
  you are that we didn't get to the mean review but I will add
• 1:18:28
  extra memes tomorrow. Anyways, we got start9 Labs,
• 1:18:33
  Embassy, OS version, zero point three point, one point one.
• 1:18:37
  Let's see, what are some of these changes is Docker?
• 1:18:39
  Stats fix updated back, independent, fix receipts,
• 1:18:43
  hell's return. Correct are.
• 1:18:45
  I'm not going to read all this because you can see it.
• 1:18:47
  This is a big big update if you are using Nine Labs update your
• 1:18:55
  node guys. I've heard really good things
• 1:18:58
  about starting on Labs. I'd like to, you know, to play
• 1:19:00
  with one anyways. Go listen to us on the Apple
• 1:19:07
  podcast on Spotify on anchor and we are on anchor app.
• 1:19:12
  If you are in the valley for Value economy and you think
• 1:19:14
  we're providing you value day in and day out, stream of some set,
• 1:19:17
  we appreciate it. Anyways, Nico.
• 1:19:20
  We're an Extra long today so that's for all this one out.
• 1:19:23
  Yeah the guys make sure to join no, it's not your fault joint.
• 1:19:27
  Make sure you join our. It's just good conversation.
• 1:19:30
  Make sure to join our telegram group.
• 1:19:32
  The link is down below. We always put it down below.
• 1:19:34
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• 1:19:59
  I also want to give a very special shout-out to our awesome
• 1:20:01
  guest. Alex, thank you so much for
• 1:20:04
  joining us today. You had some, thank you for.
• 1:20:06
  This is why I said in the very beginning.
• 1:20:08
  I love inviting plebs that are unknown because they are always
• 1:20:12
  going to say different things that you've never heard before,
• 1:20:15
  right? And that's what this is all
• 1:20:16
  about is Revolution, everybody. So Alex, where are my newest?
• 1:20:21
  Chunky Avenues. Where can people find you?
• 1:20:24
  So a, take a Kaufman. It's my middle initial is K on
• 1:20:28
  Twitter. I basically during the pandemic
• 1:20:31
  took my account and followed a fixed number of accounts,
• 1:20:35
  although I rotate them. But if I'm following you, I had
• 1:20:38
  some putting you on rotation, basically 4444 follows and then
• 1:20:43
  I basically retweet kind of obsessively just a lot of
• 1:20:47
  different content and and pin. Things that are related to kind
• 1:20:53
  of my belief that you have to nominate and SATs watch certain
• 1:20:57
  markets to nominate and SATs like the silver market.
• 1:21:00
  I think is interesting signal so I pinned that picture from the
• 1:21:05
  XE currency app a lot of times as my pin tweet.
• 1:21:10
  I'm also working with satoshi's Journal right now and a few
• 1:21:14
  other countries and companies in a sales and marketing capacity.
• 1:21:20
  My My wife's employer, Martian, craft is a great iPhone app
• 1:21:24
  development company. And my dad's company is a
• 1:21:27
  parallax Financial research, which does amazing forecasting
• 1:21:30
  work in traditional markets Trad, Phi and has its tools on
• 1:21:35
  Bloomberg. So, basically, I just consume a
• 1:21:38
  lot of news, retweet, a lot of news and really excited about
• 1:21:44
  Bitcoin and excited about libertarian politics.
• 1:21:46
  So hell yeah. Awesome.
• 1:21:48
  Good stuff. Alex, thank you so much for
• 1:21:50
  coming. Show.
• 1:21:51
  I'm going to put you back stage. Give me a thanks for having me.
• 1:21:53
  Let me wrap it up guys. That was another episode of
• 1:21:57
  Simply bitcoind live. It ran a little bit long today.
• 1:22:01
  I know just the conversation was so good.
• 1:22:03
  The sauce was so good. Things are going flying all over
• 1:22:07
  the place off. These camera turned off.
• 1:22:10
  My power went out cause I'm in Puerto Rico, but we still kept
• 1:22:14
  the show going. We tried to bring you the
• 1:22:17
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• 1:22:21
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• 1:22:24
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• 1:22:29
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• 1:22:51
  Which one's the best crypto asset will Bitcoins the best
• 1:22:53
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