Latest / Simply Bitcoin / Business Bitcoin Adoption is Going PARABOLIC | EP 1069

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Business Bitcoin Adoption is Going PARABOLIC | EP 1069 · Simply Bitcoin

• 0:03
  It's. All going to zero against
• 0:05
  Bitcoin. It's going up forever.
• 0:07
  You're against Bitcoin, you're against freedom.
• 0:23
  Sell off. A lot of investors may be even
• 0:25
  more concerned about being behind with their retirement
• 0:28
  savings. A new CNBC SurveyMonkey poll
• 0:31
  found that about seven out of 10 workers are concerned about
• 0:34
  being able to fully retire. CNBC senior personal finance
• 0:38
  correspondent Sharon Epperson is here with us right now to break
• 0:41
  it all down. Good morning, Sharon.
• 0:42
  Good morning, Becky. You know, market volatility may
• 0:45
  explain some of the concerns of many Americans.
• 0:48
  This survey of more than 6600 adults, including about 2600
• 0:52
  retirees and. 4000 adults working full time or part time
• 0:56
  in early August found a number of findings about.
• 0:59
  How people feel about their retirement The majority
• 1:01
  acknowledged that reaching retirement may not happen like
• 1:04
  it did for their parents. 8 out of 10 workers, 82%, say
• 1:08
  achieving a comfortable retirement is much harder or
• 1:12
  somewhat harder to achieve. But looking at their own
• 1:15
  futures, the CNBC poll found 44% say they are cautiously
• 1:19
  optimistic about their ability to meet their retirement cold,
• 1:23
  27% are realistic about that happening, 21% though are
• 1:27
  doubtful, and 9% say they believe it's never going to
• 1:30
  happen. With the decline.
• 1:32
  In traditional pensions, rising healthcare costs and people
• 1:35
  living longer, many experts that we spoke to say rethinking
• 1:38
  retirement is the new reality and it may mean working at least
• 1:42
  part time in your later years. The CNBC poll found most
• 1:46
  workers, 69%, are concerned about being able to afford to
• 1:50
  stop working or retire fully. The highest percentage of
• 1:53
  concern was among millennials and Gen.
• 1:55
  Xers. And even among retirees.
• 1:58
  More than a quarter, 28%, say they are currently working to
• 2:01
  supplement their retirement funds, either because they want
• 2:04
  to or they have to. Joe Coughlin, who heads the Age
• 2:08
  Lab at MIT, tells me that retirement itself is being
• 2:11
  retired. He says often within a year or
• 2:13
  two, retirees find out that they're either needing more
• 2:16
  money or they need to do something and so they go back to
• 2:19
  work in so some capacity. You can read a lot more about
• 2:23
  the key findings in the CNBC Your Money Retirement survey on
• 2:26
  cnbc.com. Yeah, welcome to Simply Bitcoin
• 2:29
  Live, your number one source for the peaceful Bitcoin
• 2:31
  revolutionary covering use culturomatic warfare.
• 2:33
  We'll be your guide through the separation of money and state.
• 2:37
  There you have the legacy propaganda media literally
• 2:41
  trying to convince you that retirement needs to be retired
• 2:45
  somehow. You know, forget about all the
• 2:47
  productivity gains, forget about all the technological advances,
• 2:51
  forget about, you know, the introduction of AI, You know,
• 2:54
  forget about all of that, right? They're essentially trying to
• 3:00
  convince you that all of a sudden it's normal that you have
• 3:06
  to retire later than your parents.
• 3:09
  It's normal that somehow you might not be able to retire
• 3:13
  altogether. Somehow it's normal that you
• 3:16
  might have to get a second job. It's not normal whatsoever.
• 3:23
  You're just using or whoever is listening to.
• 3:26
  This is why we cover these types of things.
• 3:29
  They're just using the wrong money.
• 3:31
  It's as simple as that. If you save and earn in Bitcoin
• 3:37
  and you do it over a long period of time, I promise you that not
• 3:41
  only will you be able to retire, your children will be better
• 3:46
  off. Everyone will be better off.
• 3:50
  It's incredibly hard to save for the future if not only do you
• 3:55
  have to pay income tax, you are paying a more insidious covert
• 4:02
  tax, which is the tax of inflation.
• 4:06
  That's why groceries are getting higher.
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  That's why gas prices are going through the roof.
• 4:12
  That's why energy is going through the roof.
• 4:14
  That's why housing is going through the roof.
• 4:18
  None of that is normal. We've been psyopped as a society
• 4:23
  to think that somehow these things are normal.
• 4:26
  They're not normal whatsoever. And I will prove it to you.
• 4:32
  Go to a website called Price in Bitcoin 21 and you'll see that
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  the cost of goods, the cost of housing, the cost of the S&P
• 4:42
  500, the cost of gold, the cost of everything is progressively
• 4:47
  going lower if you're using Bitcoin as your unit of account.
• 4:53
  So it's not that the American dream is dead.
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  It's not that 7 out of 10 Americans, you know, because of
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  the circumstances, because it's just the way the world works now
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  these days, are never going to be able to save for retirement.
• 5:12
  It's that 7 out of 10 Americans are using the wrong money.
• 5:16
  They're using the wrong unit of account.
• 5:19
  It's as simple as that. The reason that people are not
• 5:23
  able to retire with dignity I might add, because I think after
• 5:28
  you get past a certain age, like you should be able to enjoy your
• 5:33
  golden years. You know, you worked your butt
• 5:36
  off the majority of the majority of your life, right?
• 5:39
  You paid your taxes, you did everything that they said that
• 5:41
  you should do, and then all of a sudden you still don't have
• 5:45
  enough money to get by. Why is that?
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  Well, it's the money. The money is stealing from you.
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  The money is broken. And this is a lot harder for me
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  to convince people of if you live in the West, if you live in
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  the developing world, in the developed world, because the
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  inflation rate is ever so slight that you don't feel like you're
• 6:09
  being stolen from you. You realize it a little bit more
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  when they go crazy with the money printing sprees, like what
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  happened during the pandemic. And you know, they're trying to
• 6:17
  convince you that the inflation rate is like 8%.
• 6:20
  But you know, if you use the CPI numbers back from the 1970s,
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  it's actually like 15%. But you put that aside for a
• 6:28
  SEC. If you're in the developing
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  world, that doesn't fly. You already know your money's a
• 6:35
  scam. You already know your money
• 6:37
  isn't working for you when you're dealing with double digit
• 6:40
  inflation. It doesn't matter how nice the
• 6:43
  production on TV is and how official the chyrons look and
• 6:48
  how official the government official is behind the podium,
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  the fact is that you just don't believe it.
• 6:56
  You know for a fact, even maybe on an instinctual level,
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  inherently you know that the money is fundamentally broken
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  and it's stealing from you and it forces you to seek an
• 7:08
  alternative. Bitcoin is the solution to
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  inflation. Bitcoin is the solution to
• 7:17
  retirement, full stop. And again, we're sitting at
• 7:21
  $56,292.00. It's a lot of money for a lot of
• 7:25
  people. You don't need to get to 1
• 7:29
  Bitcoin. I I would say do whatever you
• 7:31
  can to get to 1 Bitcoin, but you don't need a full Bitcoin.
• 7:35
  All you need to do is switch your unit of account from Fiat
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  to Bitcoin. And even if you put a percentage
• 7:44
  of your savings, let's say ten, 1520%, and you do that for an
• 7:49
  extended period of time, I promise you that your life will
• 7:53
  get better. You'll have hope for the future.
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  You'll have the ability to save for the future.
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  Therefore, your mindset of, Oh my God, how am I going to put
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  food on the table? Living paycheck to paycheck will
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  change to a mindset of, Oh my God, I can have hopes, I can
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  have dreams. So, you know, shame on the
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  legacy media to try to convince us of this idea of you'll owe
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  nothing. You'll be happy.
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  You know, you, you're going to, we're going to normalize it for
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  you. You're going to be, you're going
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  to be, it's fine that you're going to be worse off than your
• 8:31
  parents. You, you don't need all of that
• 8:33
  stuff. I have a question then, who owns
• 8:36
  everything? Because if if no, if someone
• 8:39
  says you own nothing and be happy, then who owns everything?
• 8:42
  Then I have a question. If if you know the majority of
• 8:46
  society is not benefiting from the money printing, who is
• 8:50
  benefiting from the money printing?
• 8:52
  Well, it's very simple. This is why you have record
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  wealth inequality in the United States every time they print
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  money. It's a wealth redistribution
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  mechanism from the lower and middle classes that don't have
• 9:04
  the means to save in assets to the very wealthy that do have
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  the means to save in assets. So therefore, every time they
• 9:12
  print money, there's asset inflation.
• 9:14
  And because they own asset, they see the prices of, you know,
• 9:18
  whatever their real estate and their equities and then whatever
• 9:20
  it is they're holding go through the roof.
• 9:23
  So they feel like they're getting richer, but they're not.
• 9:25
  They're just getting richer on paper.
• 9:27
  They're not getting richer in purchasing power terms.
• 9:29
  So this is our job as bitcoiners in this information narrative,
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  trench warfare and the battlegrounds of the Internet is
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  to wake people up to a better alternative.
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  Because what I saw from that anchor, what I saw from that
• 9:43
  legacy media broadcast is they're trying to normalize it
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  to you. And they're basically trying to
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  tell you like, you just have to get, look, technology is getting
• 9:54
  better. You know, if you're a middle
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  class person today, you probably live better than a billionaire
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  100 years ago. Forget about all of that.
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  You just have to get used to just not retiring and just life
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  getting perpetually more expensive for the rest of time.
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  That is propaganda for Fiat. That is the Fiat propaganda
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  machine. And we as Bitcoiners, we're
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  telling you the truth. There's a better way.
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  Bitcoin. There's a reason that Michael
• 10:23
  Saylor has the website hope.com, and if you go to it, it's a
• 10:27
  course on Bitcoin. Bitcoin is hope.
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  Bitcoin is hope for the better future.
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  Bitcoin is is optimism for the future.
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  Bitcoin is prosperity for the future versus Fiat, which is
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  nihilism, poverty, despair, destruction, endless wars, and
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  the form of slavery, if we're being quite frank and honest,
• 10:47
  right? So anyways, I want to start the
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  show a little bit of a long monologue, but I had to say it,
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  bro, because I'm seeing this reporter just like basically
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  saying like, look, you just used to it, bro.
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  You're going to be you're going to be worse off than your
• 11:02
  parents. Not to mention the fact that
• 11:05
  most Gen. Z Ers and millennials have
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  absolutely no opportunity to be able to afford housing.
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  Just forget about all of that. Like, you know what, you might
• 11:15
  have to work an extra job in your 80s That's OK.
• 11:19
  Like, no, I refuse this normalization.
• 11:22
  We're fighting back and we're saying is a better way, and that
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  better way is Bitcoin. I'm going to pass it on to our
• 11:28
  guest for today, Skyler. Skyler, what are your thoughts
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  on the cold opening? Man, it's like, that's some
• 11:34
  heavy propaganda, dude. That's crazy.
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  To me, one O 1 for sure, for sure.
• 11:38
  They want you to have nothing and be poor.
• 11:41
  They want you to sit and sit and sit until they own all the
• 11:44
  assets. You know, real estate's a shit
• 11:46
  coin. I've I've experienced it.
• 11:48
  You know, we we can just go there.
• 11:50
  It's not going to be something that holds up.
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  It's a depreciating box on dirt and eventually they want Black
• 11:59
  Rock to own it all. They're already trying to get
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  all the coins and they want all the houses, and that's just the
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  evolution that we're going. Yeah, I mean, and that's just
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  that's just the way the Fiat game, that's a contillion air
• 12:11
  effect, right? Like that's, that's what it is
• 12:13
  like as long as the government has this ability to create money
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  for free out of thin air, their, you know, their friends are
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  going to get the main Bennett, they're going to be the main
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  benefactors of that. And the middle class is going to
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  get absolutely destroyed. And the lower class are going to
• 12:29
  be happy because they're going to be giving away, you know,
• 12:31
  essentially, peanut, that's, that's when the, you're going to
• 12:33
  hear the introduction of Ubi very soon, right?
• 12:37
  But no, I, I refuse to just survive.
• 12:40
  I want to thrive. I want my future family to
• 12:43
  thrive. I want my children to thrive.
• 12:45
  Opti, what, what's your take on that?
• 12:47
  I mean, bro, Joe has been doing an incredible job as this, this
• 12:52
  the, the MSNBC anchor. What happened there, man?
• 12:55
  Like it's almost as if he forgot about Bitcoin.
• 12:58
  I don't know you guys sound like extremist and my only thought is
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  shut up peasant get back to work and you don't.
• 13:04
  You will not own anything except your except your perpetual
• 13:08
  poverty. This is the way the elites know
• 13:11
  what's going on. They have everything under
• 13:13
  control. Let them acquire all the wealth
• 13:16
  and you have no hope just accept it.
• 13:18
  This is the way things are and just shut up.
• 13:23
  Quit. Quit whining and, and work
• 13:25
  harder because that's the way things are.
• 13:28
  No, I'm obviously trolling here, but yeah, it's, it's absolutely
• 13:32
  incredible. I think anyone, this year,
• 13:34
  especially this year, if you've been in Bitcoin for a while,
• 13:37
  you've probably noticed this. But I think this year, it's
• 13:39
  becoming very clear to most people that the corporate press
• 13:42
  is nothing but propaganda machines, and they just
• 13:46
  constantly gaslight you. And I think that that was one of
• 13:49
  those moments where it's like, hey, retirement is outside of
• 13:53
  all of your reach except it. This is the way things are.
• 13:56
  But trust us, bro. The next person to get elected
• 13:59
  is going to fix this. Just trust the process.
• 14:03
  That's all I'm hearing. Yeah, that's all I'm hearing.
• 14:05
  Also, though, Nico, I, I told you this before and I, I want to
• 14:10
  tell the audience I'm super geeked up on coffee this
• 14:13
  morning. I made it a little stronger.
• 14:14
  So I, I, I feel a little bit of nausea right now, but the show
• 14:18
  goes on and we'll be good to go. So if I black out and I faint on
• 14:22
  stream, you guys know the reason.
• 14:24
  Too much coffee, too much caffeine this morning.
• 14:26
  I'm like literally jittery right now.
• 14:28
  But anyways, enough of me. Enough of me.
• 14:31
  All right everybody, before we get on to the show, I do give a
• 14:33
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• 16:39
  So let's hit on to the numbers. Lots to talk about.
• 16:41
  Let's go the Bitcoin numbers, everybody.
• 16:48
  Every time you buy a hardware wallet, it usually comes with a
• 16:51
  piece of paper, and that piece of paper is labeled one through
• 16:54
  12 or one through 24, and you're to write down your seed words on
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  You get 15% off if you use promo code simply at the time of
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  recording, the Bitcoin price is 56,360 sats for a dollar 1774
• 18:20
  block height 860,026 blocks to having eight 189,900 74 having
• 18:29
  estimate March 23rd 2028 total lightning network capacity 4934
• 18:35
  BTC capacity value 278 million realized monetary inflation 1.4%
• 18:42
  market capitalization 1.11 trillion Bitcoin versus gold
• 18:48
  market cap 6.41%. Anyways, this happens every
• 18:54
  couple of days and of course as a Bitcoin media organization, we
• 18:58
  have to address it. So the latest news Coinbase CFO
• 19:03
  says Kamala Harris accepts crypto donations and apparently
• 19:07
  that originally came from Fortune.
• 19:11
  But if you take a look at the details that doesn't seem to be
• 19:17
  the case here's predator and he says Kamala Harris campaign
• 19:21
  donation page does not have a Bitcoin option.
• 19:24
  Very disappointing to see everyone push this false story.
• 19:28
  Now I did a little bit more digging here's a coin desk
• 19:31
  article and here it is the headline Kamala Harris is not
• 19:35
  directly accepting crypto donations.
• 19:38
  A pack is a Coinbase executive appears to have misspoken or
• 19:42
  have been imprecise when she said President Kamala Harris is
• 19:46
  accepting crypto donations. Opti.
• 19:48
  Isn't it kind of funny that like, you know, I think a couple
• 19:52
  weeks ago when the whole crypto for Harris thing started
• 19:55
  happening, we always kept hearing like it was a member
• 20:00
  from the Kamala campaign or it was a member from the Kamala
• 20:04
  White House that was saying that she was going to be pro crypto,
• 20:08
  but she never fully endorsed it herself.
• 20:12
  And some of the case that we've been making for on simply
• 20:14
  Bitcoin is I will literally wear a Kamala Kamala hair shirt
• 20:18
  tomorrow as soon as she comes out and matches exactly what the
• 20:23
  opposing political party is. I'm going to protect the right
• 20:26
  to self custody and I'm going to protect the right to mine.
• 20:31
  As soon as she says those things, you know, I'll say, OK,
• 20:34
  great, let's vote perfect. It's not it's not partisan
• 20:37
  anymore. But until she says the, until
• 20:40
  she says those things, every couple of weeks, I see a little
• 20:43
  heartbeat and it's like it's a little bit of a gaslight.
• 20:46
  And like this, this is like a misrepresentation of what what
• 20:50
  was happening. It's like, no, the Kamala
• 20:53
  campaign isn't accepting crypto donations.
• 20:56
  It wouldn't make sense for them to accept crypto donations.
• 20:59
  The whole Democratic Party platform literally does not
• 21:02
  mention digital assets one time. But again, you see this article
• 21:06
  basically saying that like you know what?
• 21:09
  It's not Kamala directly herself, it's actually a a pack
• 21:13
  that is accepting donations for her.
• 21:15
  Now, what I would say is talk is cheap, actions are expensive and
• 21:23
  you can't have the votes of the Bitcoin community, but also not
• 21:30
  come out with any concrete policies and expects the trust
• 21:36
  me bro model like that doesn't work like that.
• 21:39
  And one of the things I kept saying, because this is like the
• 21:43
  thing that I keep running into when I try to make this
• 21:46
  argument, guys, we are a Bitcoin only show because we're a
• 21:50
  Bitcoin only show because we are single issue voters.
• 21:53
  I can't emphasize this enough. Bitcoin over party, not party
• 22:00
  over Bitcoin. Simple as that.
• 22:03
  It's a very simple concept for everyone to understand.
• 22:07
  Kamala is in the executive branch right now.
• 22:10
  She could free Ross right now. She could say I'm going to
• 22:13
  protect the right to self custody.
• 22:15
  She could say I'm going to protect the right to to mine
• 22:18
  Bitcoin. She could say that right now,
• 22:20
  Take the momentum out of Trump's campaign.
• 22:23
  It is a very close election and us Bitcoiners, I'm sure a lot of
• 22:28
  us will get behind Kamala if she does that.
• 22:31
  She has the ability to do that right now.
• 22:32
  She hasn't done this, but these articles we're going to, we're
• 22:36
  going to continue calling them out because it's a
• 22:39
  misrepresentation of what her actual campaign is actually
• 22:43
  doing and what their stance is on the industry as a whole.
• 22:48
  And by the way, this isn't just a isolated incident on that same
• 22:54
  show that we played you the cold opening from Mark Cuban, which
• 22:58
  has been a proponent of not only for the crypto for Harris stuff,
• 23:02
  but also for the Kamala campaign as a whole.
• 23:05
  He gets some asked some questions in regards to the
• 23:10
  unrealized gains policy that was that did come out of the Kamala
• 23:16
  campaign. And you'll see like again, I, I,
• 23:19
  I can't emphasize this enough. Bitcoin over party, not party
• 23:23
  over Bitcoin. I don't care about the
• 23:25
  Republican Party. I don't care about the
• 23:26
  Libertarian Party. I care about, I don't care about
• 23:28
  the Democratic Party. I care about the Bitcoin party
• 23:31
  and any party that is endorsing friendly Bitcoin regulations in
• 23:35
  a friendly environment for Bitcoin entrepreneurs, they have
• 23:38
  my vote, right. So party orange versus party
• 23:42
  green. That's that's really what it's
• 23:43
  about. But anyways, it's something very
• 23:47
  similar in the sense that, like, you know, the official policy
• 23:51
  that came out was taxing unrealized gains, raising the
• 23:56
  capital gains tax to 44%. Those are things that have been
• 24:01
  said and every time they get asked, they get a they give a
• 24:07
  non a non answer. Of course, Mark Cuban isn't an
• 24:10
  official representative of the campaign, but it kind of reminds
• 24:14
  me of the discussions that we've been having over the last couple
• 24:18
  weeks as it relates to the Kamala campaigns outlook on the
• 24:23
  Bitcoin industry. Let's check it out, Bunch.
• 24:26
  Of folks in the Valley who I've been in touch with in the past
• 24:28
  week on this unrealized tax issue gain issue.
• 24:34
  And where we've talked about, you know, those who are taking
• 24:36
  loans against their, their unrealized stock etcetera,
• 24:38
  etcetera. And then they say, well, you
• 24:40
  know, if you start to tax that, we won't be able to make
• 24:45
  investments in startups. We won't be able to give money
• 24:48
  over to venture capitalists and private equity folks and other
• 24:50
  things like that. What's the what's your feedback
• 24:53
  to to to that distinction? Because I wonder what is a
• 24:55
  critique? Of one, then you know of one
• 24:57
  policy, and you get rid of that policy.
• 24:59
  Then then of course, it moves to the critique of the next version
• 25:02
  of it. Of course.
• 25:04
  But OK, So what I told him was if if you tax unrealized gains,
• 25:07
  you're going to kill the the stock market, right?
• 25:10
  And it's going to be the ultimate employment plan for
• 25:13
  private equity because companies are not going to go public
• 25:17
  because you can get whipsawed, right?
• 25:19
  I mean, my own personal experience back from the
• 25:21
  Internet days, right? All of a sudden I was cash poor,
• 25:24
  but equity rich, right? My, my net worth was enormous,
• 25:28
  but the number of dollars in the bank wasn't enormous.
• 25:31
  And so I'd have based off of the the the unrealized gains, I
• 25:35
  would have had to borrow money and I effectively would have
• 25:38
  been in Hock just to pay my tax bill instead of trying to run my
• 25:41
  company and 1000 other reasons, right.
• 25:43
  So they realize that's the issue.
• 25:46
  Let me I can't repeat it enough. Even though she's not directly
• 25:51
  conflicting the Biden tax plan to her, her value proposition is
• 25:56
  we need to tax everybody fairly. I'm starting from the Biden plan
• 26:01
  as a starting point, but that's not necessarily her.
• 26:04
  And Mark, let me just say I I appreciate your calling in
• 26:07
  telling us what you're hearing on these fronts.
• 26:09
  That's great. But as you've said yourself, you
• 26:12
  can't speak for the vice president.
• 26:13
  These are things they're telling you.
• 26:14
  Who knows what they're telling other people.
• 26:16
  My guess is they're telling anybody who's donating to them
• 26:18
  exactly what they want to hear. At this point, what matters is
• 26:21
  what they say publicly and what they will stick to.
• 26:22
  No, no, no, no. Absolutely, positively not
• 26:26
  right. Let me just be very, I don't
• 26:27
  know, Like, why do you think that they're telling you the
• 26:29
  truth and not telling other people other things?
• 26:32
  Well, I don't. If they won't say it publicly,
• 26:33
  say it publicly. Tell all of us so that we can.
• 26:35
  Hold you to it. I get it, but you've got to get
• 26:37
  the details right? You can't.
• 26:38
  Yeah, but we have 60 days to an election.
• 26:40
  Like you're asking people to take a fire day before the
• 26:43
  election, right? Even if it's the day before,
• 26:46
  Look, the the next question is let me check the second thing.
• 26:48
  I was going to mention it earlier.
• 26:49
  I just don't want everybody to trade on what we think and what
• 26:53
  we feel and what we think in your point.
• 26:55
  Just tell us that that's exactly what we've been making the case
• 27:00
  for on the Bitcoin front, right? It's like like it's like you're,
• 27:07
  I get it. You're saying one thing.
• 27:09
  It like the crypto for Harris people like they've done a great
• 27:12
  job. They they put the spaces
• 27:14
  together and you know, they've done something.
• 27:17
  But what we're seeing is not reflecting a party that is going
• 27:24
  to be positive for the industry. There was a vote in the house
• 27:28
  that happened. It was literally divided across
• 27:32
  party lines. There was a vote that passed
• 27:34
  that says it was a bill to ban central bank digital currencies.
• 27:41
  Like basically every Republican voted for banning a central
• 27:46
  central bank digital currency. Mostly no.
• 27:48
  No, except for three Democrats. They voted against banning a
• 27:53
  bill that would ban central bank digital currencies.
• 27:56
  Then in their policy, there's no mention of digital assets.
• 28:01
  And then not to mention their actions over the last three or
• 28:04
  four years coming from the Biden administration, the proposed 30%
• 28:09
  Bitcoin mining tax, the hostility from Elizabeth Warren,
• 28:12
  the attack on self custody, the denial of Caitlin Long's federal
• 28:16
  banking charter, which she told me when she came on the show,
• 28:20
  came directly from the White House.
• 28:22
  Like, and then Mark Cuban is, is essentially like saying what?
• 28:26
  Like the arguments against it, which is like, no, no, no, no,
• 28:29
  no, it's not going to happen. Trust me, bro.
• 28:32
  So I'm going to go back to what I've been saying like Bitcoin
• 28:36
  over party, not party over Bitcoin until I see like, hey,
• 28:43
  we are going to protect self custody.
• 28:45
  We are going to protect the right to mine as a single issue
• 28:49
  Bitcoin voter and someone who, you know, has a, as a, a Bitcoin
• 28:54
  media platform. I can't in good faith stand
• 28:59
  behind that candidate because it's, there's no proof of it.
• 29:03
  It's just kind of like little heartbeats here and there
• 29:08
  dropping little media pieces. But if you look into the
• 29:12
  details, none of them show that there is actual support.
• 29:17
  It's a he said, she said. And there you see it.
• 29:22
  This is, this doesn't only apply to the Bitcoin industry.
• 29:27
  It's a discussion being had on the unrealized gains policy as
• 29:32
  well, because they did release a policy on taxing unrealized
• 29:38
  gains. And then you have Mark Cuban
• 29:41
  providing air cover. But like the anchors are
• 29:44
  basically saying what we're saying.
• 29:46
  It's like, but like, I don't understand, like why should we
• 29:49
  trust you? Like why should we make that
• 29:51
  trade? Why can't she just come out and
• 29:54
  publicly say it? So that's our stance on that
• 29:58
  guys. You guys know the deal.
• 29:59
  We don't lean left, we don't lean right.
• 30:01
  We are apolitical on simply Bitcoin.
• 30:03
  We're single issue voters. We support any candidate that
• 30:07
  supports a positive Bitcoin regulatory environment and I
• 30:11
  just don't see that right now. And they can keep dropping
• 30:14
  articles, but we're literally going to keep addressing every
• 30:17
  single one of those articles. Anyways, I'm going to pass it on
• 30:21
  to Skylar. Skylar, what are your thoughts
• 30:22
  on this? Just keep in mind, we are on
• 30:24
  YouTube. So, you know, we have to keep it
• 30:27
  friendly in, in the, in the political discourse.
• 30:30
  But what are your thoughts on this, man?
• 30:32
  I mean, I, I, I hope I laid out the facts for you guys, like
• 30:36
  make it like very clear. What's your take, Skylar?
• 30:39
  My take is solutions don't come through or from government,
• 30:43
  period. We can't vote our way out of
• 30:46
  this. They obviously are going to
• 30:49
  continue to gaslight us and say they're going to tax unrealized
• 30:52
  gains. And if they do, we'll find a way
• 30:54
  around it. You can try, try, try, but
• 30:58
  they'll have capital flight. Bitcoiners will head to El
• 31:01
  Salvador. We already are.
• 31:03
  So it's only a matter of time before they run all the wealth
• 31:06
  out of the country. If they continue down this road,
• 31:08
  there's no way around it. So it's, it's only a matter of
• 31:11
  time. I think it's ridiculous as well.
• 31:16
  I'm a single issue voter, but I don't see any way that they can
• 31:19
  actually implement this. And if they do, we'll all just
• 31:23
  leave, you know, capital flights real.
• 31:25
  It's happened before. And then there will be a lot of
• 31:28
  people voting for the party that made them more poor.
• 31:31
  And as we say, they'll just continue to have fun staying
• 31:34
  poor. Yeah, and and I I see a comment
• 31:37
  in here regarding the from Roman, it says, Nah, Nah, you
• 31:42
  endorse Trump. That's not a political of course
• 31:44
  we we endorse Trump and RFK because they've had pro Bitcoin
• 31:50
  policies like it's as simple as that.
• 31:53
  Of course. What guys, I can't, I can't in
• 31:56
  good faith endorse a political party or a candidate that has
• 32:02
  not released any policy towards the industry that has been
• 32:06
  positive. And their actions over the last
• 32:09
  two and a half, 3 1/2 years have been quite hostile.
• 32:12
  So as a Bitcoin media organization, it would be
• 32:15
  irresponsible for me just to take their word for it.
• 32:18
  And I think the anchor, the CNNBC anchor is feeling that
• 32:23
  same frustration. Like it's like, but wait a
• 32:25
  second, Mark, you've been like, they literally said they're
• 32:28
  going to tax and realize gains and he's like, no, no, no, no,
• 32:30
  that's never going to happen. And it's like, then why are they
• 32:32
  saying that? You know, Anyways, Opti, what's
• 32:34
  your take on all this? Yeah, well, my first thought is
• 32:38
  obviously getting a little tinfoil hat here.
• 32:40
  I really wonder what kind of dirt they have on Mark Cuban for
• 32:44
  him to do that much chilling. I'm going to completely skirt
• 32:47
  over that one. We we talked about this.
• 32:49
  I, I don't even know how many times I remember you went on the
• 32:52
  spaces for, I forget what it's called, like Democrats for
• 32:55
  crypto or something like that. And you laid the same case,
• 32:58
  essentially saying that there has been a lot of talk and now
• 33:02
  it's to back it up with action. And I think this is where we
• 33:06
  are. And I, I think the, the biggest
• 33:08
  signal that we've been seeing in regards to politics landing on
• 33:12
  Bitcoin's front door is the fact that as a voting block, as a
• 33:16
  movement, Bitcoin and Bitcoiners are a huge block of the
• 33:20
  population in the US, Hence why they are giving us so much lip
• 33:23
  service. And the fact that they run some
• 33:26
  headlines like this on fortune saying, oh, now Kamala is
• 33:30
  accepting Bitcoin or crypto. And it turns out that that's not
• 33:33
  actually the case. It doesn't surprise me at all.
• 33:36
  And that's not to say that the Trump campaign is any better.
• 33:39
  Yes, the Republicans came out for Bitcoin.
• 33:42
  They're saying that their platform is going to be to push
• 33:46
  self custody, the right to mine in the US.
• 33:49
  And then yesterday or I think it was Tuesday, we find out that
• 33:52
  the Trump kids are doing some kind of defy lending crypto
• 33:55
  platform that has like a 70% pre mine, allegedly according to one
• 34:00
  white paper. So I don't think both of the
• 34:03
  parties are doing a very good job in regards to their Bitcoin
• 34:07
  understanding. But of course, remember for most
• 34:10
  of us when we got into Bitcoin, we didn't really understand
• 34:12
  anything. We got caught up in the shit
• 34:14
  coins as well. So I totally understand that.
• 34:16
  But it's still seeming that the line in the sand is an anti
• 34:21
  Bitcoin stance and a pro CBDC stance and then one that is more
• 34:26
  pro Bitcoin pro even at this point, maybe pro crypto, which
• 34:29
  is probably good for the whole industry and anti CBDC.
• 34:32
  So if you are voting, I think the votes are are the voting
• 34:36
  lines are very clear here. But again, I think the signal
• 34:40
  here is just how powerful of a movement Bitcoin is.
• 34:44
  The the fact that they're even talking about this, I think just
• 34:46
  goes to show that we, it's our mean more on everyone else who's
• 34:49
  just living in it. 100% And I see a comment here like what pro
• 34:54
  Bitcoin policy did Trump promote while in office?
• 34:58
  He's running for president, so he's he's.
• 35:00
  Talking about 2016, they're saying like, oh, they hated
• 35:03
  Bitcoin in 2016. Yeah, we'll give people the
• 35:06
  benefit of the doubt that they can change.
• 35:08
  For sure, for sure. But like that's the whole point
• 35:11
  of like an election. Like you, you pander that you
• 35:13
  try to get votes, right? That's the whole point.
• 35:16
  And they've officially introduced it into the party
• 35:19
  platform. Like don't, I'll take my word
• 35:21
  for it. You could look it up, right?
• 35:23
  Like it's it's there. Protect self custody, protect
• 35:25
  the right to mind. You're not seeing that from the
• 35:27
  other side. That's all I'm pointing out.
• 35:30
  So anyways, all right, everybody, before we move on to
• 35:33
  the next section, stay tuned because we are going to talk
• 35:36
  about this amazing report that was released by River Financial
• 35:39
  in regards to a record amount of business adoption in Bitcoin
• 35:44
  terms and where I believe this is going.
• 35:47
  I think eventually every business, whether it's a large
• 35:50
  business business, a publicly traded company, a small business
• 35:54
  is not going to have a choice but to adopt some type of
• 35:59
  Bitcoin strategy. Anyways, everybody, let's get to
• 36:01
  the news, the Daily News. I want to give a shout out to
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  Bitcoin. All right, everybody.
• 37:34
  So today's topic, the headline of today's video is the massive
• 37:40
  Bitcoin adoption happening from businesses, and River actually
• 37:45
  released an incredible report. I don't know if we'll have time
• 37:48
  to go through the entire thing because it's quite long, but
• 37:50
  there are some things that I want to highlight and I think it
• 37:53
  would make a great discussion for the panel that we have
• 37:56
  today, Opti and our guest Skyler.
• 37:58
  So everybody, let's start off with this.
• 38:01
  Why is this happening? Well, incentives, we played you
• 38:04
  guys a video of Howard Lupnik, the CEO of Counter Fitzgerald.
• 38:09
  And of course we all, we all remember Larry Fink in the in
• 38:13
  the beginning of the year when the ETF was launched, go on
• 38:17
  MSNBC and preach Satoshi's gospel.
• 38:20
  We all remember that. Why is this happening?
• 38:22
  Well, it is Bitcoins incentives, and if you're a business and a
• 38:28
  competitor has adopted a Bitcoin strategy strategy and you have
• 38:32
  not adopted a Bitcoin strategy, you are now at a competitive
• 38:36
  disadvantage. So it's just market forces doing
• 38:41
  what market forces will do. And that's actually the case
• 38:44
  that Howard Lupnik was making makes it basically saying like,
• 38:47
  look, we're in the beginning of institutional Bitcoin adoption.
• 38:51
  Five years from now, every bank is going to custody of this
• 38:54
  thing, every bank is going to sell this thing and it's not
• 38:58
  going to be an option. It's not going to be a choice.
• 39:01
  It's going to be a matter of do you want your business to thrive
• 39:05
  or do you want your business to get left behind?
• 39:07
  It's as simple as that. So anyways, let's get to the
• 39:10
  numbers first. Michael Saylor doing what
• 39:13
  Michael Saylor does best, putting his on the table.
• 39:17
  And right here, four years on the Bitcoin standard and you
• 39:22
  would have outperformed every company in the S&P 500,
• 39:27
  including NVIDIA, which is the darling right now.
• 39:31
  Everyone's talking about NVIDIA micro strategy.
• 39:34
  They don't make, they don't, they're not the, the, the most
• 39:39
  powerful and successful GPU manufacturer in the world.
• 39:45
  It's, they're not right. It's a they, you know, they,
• 39:48
  they're a software company, but because they have adopted a
• 39:51
  Bitcoin strategy, they've outperformed everybody else.
• 39:54
  That is the power of Bitcoin. That is something This is why
• 39:58
  like when they were talking about essentially forget about
• 40:01
  retirement and you might have to get a second job and they're
• 40:04
  just telling you like just get used to being poorer than your
• 40:07
  parents. No, with Bitcoin, you don't have
• 40:11
  to do that. In fact.
• 40:13
  You don't even have to be poorer than your parents.
• 40:15
  You have to be on the same level of your parents.
• 40:17
  You have the opportunity to prosper more than your parents,
• 40:20
  which is what I think things should be like honestly.
• 40:25
  But I think but because of the manipulation of Fiat money, it,
• 40:29
  it, it, it, you know, it, it, it like forces this inflation thing
• 40:33
  onto society. And I, and I really believe that
• 40:35
  a lot of society's woes and problems right now stem from
• 40:40
  broken money. And I think that if you fix the
• 40:42
  money, it, it, it has very consequential effects.
• 40:46
  Because what a lot of people forget and they, they, they, it
• 40:49
  just slips their mind is that money plays an instrumental role
• 40:53
  in human society. I would say it's the base layer
• 40:57
  of society. This the camera, the microphone
• 41:00
  I'm using the laptop, I'm using the phone I have, you know, even
• 41:04
  these eye drops that I have because my eyes get dry.
• 41:07
  I, I use money to buy all these things.
• 41:10
  I use money to our business. Simply Bitcoin.
• 41:13
  We get paid in money. That's how we pay.
• 41:15
  That's, that's how we pay the bills.
• 41:17
  So it's like money is an instrumental role in society,
• 41:20
  and the money is corrupted and it's broken.
• 41:24
  And despite it being broken and corrupted, the free market still
• 41:28
  finds a way, which is, I find, you know, beautiful and poetic.
• 41:31
  But this is what I'm talking about.
• 41:33
  And it's just a matter of time before businesses, not
• 41:37
  individuals. So individuals are realizing
• 41:39
  this, but businesses also start to realize this and they start
• 41:44
  to adopt A Bitcoin strategy for their business.
• 41:48
  So, and this is exactly what River has found out.
• 41:51
  They created a research report and the title is why business
• 41:55
  Bitcoin adoption grew by 30% in one year.
• 41:58
  That is absolutely bonkers. Let's get through some of this
• 42:03
  report. So let's first start off with
• 42:06
  the state of Bitcoin adoption. In this chapter, we cover where
• 42:09
  businesses where business Bitcoin adoption stands in 2024,
• 42:13
  across public data, proprietary data from River, and insights
• 42:17
  from a survey of River's business clients.
• 42:20
  So here is the Bitcoin ownership distribution.
• 42:24
  The vast majority of Bitcoin is still held by individuals like
• 42:28
  they should be lost. Bitcoin is estimated to be
• 42:31
  around 4 billion. I mean, sorry, 44 million and
• 42:34
  businesses hold roughly 683,000 Bitcoin funds hold about 1.9
• 42:41
  Bitcoin, 1.09 Bitcoin, governments hold about half a
• 42:44
  million and there's still yet 1.25 million Bitcoin yet to be
• 42:48
  mined, right? So I love it because the
• 42:51
  distribution is still in the hands of the people, still in
• 42:53
  the hands of individuals. Anyways, take a look at this
• 42:57
  adoption rate by companies. Insane all started in 2020
• 43:02
  because that's when Chad Saylor announced his strategy.
• 43:06
  And of course, he's been vindicated.
• 43:08
  These numbers are undeniable for audio listeners.
• 43:12
  The top ten performing stocks in the SNP MicroStrategy is leading
• 43:16
  the pack because he adopted a Bitcoin strategy.
• 43:20
  But if you take a look at the graph right, it's not only
• 43:24
  public companies, but also private companies that have
• 43:27
  adopted a Bitcoin strategy. And as as you can see, it's just
• 43:32
  gone parabolic. You know, it was it was close to
• 43:34
  0 back in 2020 and now it's north of 606 hundred thousand
• 43:40
  Bitcoin if you combine private companies and public companies.
• 43:45
  So absolutely bullish public companies with Bitcoin look
• 43:49
  continues to go parabolic. So all of these things just
• 43:53
  continue to be heading in the right direction.
• 43:55
  Here's a graph of public companies with Bitcoin holdings.
• 43:58
  Of course, the vast majority are public miners.
• 44:01
  There's some crypto companies, technology companies include
• 44:05
  Reddit. I'm going to name the ones that
• 44:08
  you guys are familiar with because there's other ones on
• 44:10
  here. So there's MicroStrategy,
• 44:12
  there's Reddit, there's Black, that's there's block, there's
• 44:15
  Jack, that's Jack Dorsey's company, MercadoLibre, just like
• 44:18
  one of the biggest like kind of like eBay sites in in South
• 44:21
  America. Tesla is on there.
• 44:24
  Real estate, Metaplanet, finance, BlackRock, of course,
• 44:28
  we all know that healthcare, we have summer scientific.
• 44:32
  Anyways, you guys get the point, right?
• 44:34
  So this this huge amount of of adoption.
• 44:37
  Now, what's really interesting is what is stopping more
• 44:41
  companies from adopting Bitcoin and is actually something that
• 44:45
  Howard Lupnik said when we played you guys the cold opening
• 44:48
  a couple days ago. The main concern as to why these
• 44:51
  companies don't want to adopt Bitcoin is not because they
• 44:55
  don't believe in Bitcoin, the asset, but it is because of the
• 44:59
  accounting and tax treatment. So it's a regulatory issue.
• 45:04
  It's not an asset issue, it's a regulatory issue.
• 45:09
  Only 22% say it's because of Bitcoin's volatility, right?
• 45:14
  But like, think about this accounting and tax treatment
• 45:17
  regulatory uncertainty, like come on now, only 10% of
• 45:22
  companies are getting other stakeholders to agree and that
• 45:26
  number is going to continue to go down as micro strategy
• 45:29
  continues to outperform everything because it is adopted
• 45:32
  a Bitcoin strategy. Now check this out Among River's
• 45:36
  business clients, allocation sizes to Bitcoin vary
• 45:41
  significantly. So it's interesting that 36% of
• 45:47
  River Financial's business clients actually hold more than
• 45:51
  50% of their treasuries in Bitcoin.
• 45:54
  That's awesome. 28% hold it in. 2010% hold. 2828% of River's
• 46:03
  total business clients hold less than 10% in.
• 46:06
  In Bitcoin, about 17% hold 17% of River Financial's business
• 46:12
  clients hold 10 to 25% of of their treasury in Bitcoin and
• 46:18
  another 17 percent 26 to 50% hold 17% of of of River
• 46:27
  Financial's business clients hold 26 to 50% in Bitcoin as as
• 46:32
  a treasury holding. So very, very interesting.
• 46:35
  Now forecasting into the future, you kind of have different
• 46:40
  different outlooks on here, but it's looks like everything else
• 46:44
  in Bitcoin, it's going up into the right.
• 46:46
  So where does business adoption go from here?
• 46:50
  Broadly speaking, the rate of Bitcoin adoption is
• 46:53
  unpredictable in nature. Nonetheless, we forecast
• 46:57
  cumulative Bitcoin holdings by the beginning of 2026 in three
• 47:01
  ways. So they make the the different
• 47:04
  cases. The lower bound is
• 47:06
  MicroStrategy, Tether, Coinbase and Square maintain publicly
• 47:09
  disclosed strategies for acquiring Bitcoin allowing for a
• 47:12
  somewhat predictable forecasting for their future holdings.
• 47:15
  So this is just accounting for the existing companies middle
• 47:18
  bound. In the first half of 2024,
• 47:21
  businesses purchase an aggregate of 64,886 Bitcoin among to 356
• 47:28
  Bitcoin per day. Our middle bound estimate
• 47:31
  extrapolates the rate of purchases until 2026 and then
• 47:35
  the upper bounds. This is more speculative
• 47:37
  territory. In the most optimistic scenario,
• 47:40
  we estimate that 10% of U.S. companies will convert 1.5% of
• 47:44
  their cash or 10.35 billion to Bitcoin over the next 18 months.
• 47:50
  That is very, very conservative. And as you can see, the rate of
• 47:54
  business Bitcoin adoption continues to go up and to the
• 47:58
  right. Even on the lower end where it's
• 48:00
  just Tether, it's just Coinbase, it's just MicroStrategy still
• 48:04
  going up it the, the middle bound where it's basically
• 48:08
  making the assumption that it's not only MicroStrategy, it's not
• 48:11
  only Tether, it's not only Coinbase, but also other pub.
• 48:13
  All their companies are going to continue this trend as well.
• 48:16
  And then the more speculative aspect, which is they're going
• 48:20
  to see what Michael Saylor is doing and they're going to be
• 48:21
  like, OK, that's probably a good strategy.
• 48:23
  And I mean 1.5% of their total cash, that's nothing thing like
• 48:30
  that. That's that's miniscule and the
• 48:32
  amount of benefits that from just allocating that one that
• 48:39
  would overcome the amount of purchasing power they're losing
• 48:42
  to inflation. I think that this is what this
• 48:44
  next section covering Bitcoin treasuries often fail, sorry,
• 48:48
  business treasuries often fail to preserve value due to the
• 48:52
  poor performance of cash and short term investments.
• 48:56
  Before we dive into how Bitcoin can improve a business treasury,
• 49:00
  it helps to 1st understand why most businesses are losing money
• 49:04
  on their treasury holdings. A typical business treasury
• 49:07
  today consists of cash, cash equivalents, and marketable
• 49:11
  securities. These assets are highly liquid,
• 49:14
  meaning they can be converted to cash quickly and usually
• 49:17
  maintain a stable value as priced in dollars.
• 49:22
  It goes on to say with the part that I want to get to, where is
• 49:27
  it? Here it is, common Treasury
• 49:31
  assets consistently underperform inflation.
• 49:33
  And that's the problem, right, is that you might be holding
• 49:37
  cash equivalents or cash. But remember, even in the best
• 49:43
  year, the ideal inflation rate, not to mention the fact that
• 49:47
  they've changed all the CPI metrics, they've changed all
• 49:50
  these things, and in an ideal year, it's still 2%.
• 49:54
  And if you're Apple and you're holding on to hundreds of
• 49:58
  millions of dollars worth of cash and you're just sitting on
• 50:01
  it, do the math. That's a lot of purchasing power
• 50:06
  that you're losing every year. So imagine in instead, you could
• 50:09
  be super conservative. Instead of putting 10% of your
• 50:14
  treasury into Bitcoin, you put 2% into Bitcoin.
• 50:18
  That 2% allocations of Bitcoin could compensate for the amount
• 50:24
  of purchasing power that you're losing on that 98% that for
• 50:28
  whatever reason you chose to still keep in cash.
• 50:32
  It's it's a no brainer, in my opinion anyways.
• 50:36
  And here's the case of Apple. Apple's a notable except example
• 50:40
  of a company that maintains a large treasury exceeding $150
• 50:44
  billion over the last over the past decade.
• 50:47
  While highly diversified across securities and foreign
• 50:50
  currencies, Apple's treasury remains vulnerable to inflation
• 50:54
  due to its nature of its holdings.
• 50:57
  So they hold mortgages, they hold corporate and and mutual
• 51:00
  bonds, they hold non-us government bonds that yield U.S.
• 51:03
  Treasuries. They hold cash, they hold COM
• 51:07
  paper, CDs, MMFS. The point is, is that take a
• 51:12
  look at this Apple has seldom leveraged its balance sheet,
• 51:16
  spending less than 5 billion on acquisitions over the past
• 51:19
  decade. During the same period, its
• 51:22
  Treasury lost the company over $15 billion in real terms, or,
• 51:28
  after adjusting for inflation, $15 billion.
• 51:33
  Just poof out of thin air because they chose to keep their
• 51:38
  Treasury in cash or cash equivalents.
• 51:42
  And it's such an easy fix. They could have just put 5%, two
• 51:48
  percent, 1.5% into Bitcoin and maybe it wouldn't have
• 51:53
  compensated for that entire 15 billion.
• 51:56
  Well, actually, yeah, 'cause Bitcoin performed crazily those
• 52:00
  last 15 years, but at least it would have made-up for that loss
• 52:04
  of purchasing power. So this is a no brainer if
• 52:08
  you're a small business, if you're a big business, if you're
• 52:11
  a publicly traded company. It is not a question of should
• 52:15
  you adopt A Bitcoin strategy, it's a question of you have to
• 52:20
  adopt A Bitcoin strategy or you put your business at risk
• 52:24
  because your competitors are adopting a Bitcoin strategy and
• 52:27
  therefore they have a competitive advantage over you
• 52:30
  because their treasuries are not melting ice cubes.
• 52:34
  And if you are just holding on to cash, your treasury is
• 52:38
  literally a melting ice cube. So anyways, bullish for future
• 52:43
  Bitcoin business adoption. Incredible report by River broke
• 52:47
  it down there made the case. We've made the case for Apple in
• 52:51
  the past before. This is a no brainer and I think
• 52:54
  all it takes is one company. And look, as much as people hate
• 52:58
  on Elon, people seem to forget Tesla, OK, which is not it's a
• 53:03
  mainstream kind of like S&P 500 company holds 10,000 Bitcoin and
• 53:09
  SpaceX, which is private, they hold 8000 Bitcoin.
• 53:13
  So this is already happening. Like there's companies that have
• 53:16
  already adopted a Bitcoin strategy that are not micro
• 53:19
  strategy that are not Coinbase. The next question is who's up
• 53:23
  next? I think it's just a matter of
• 53:25
  time because of bitcoins game theory and incentives.
• 53:29
  Anyways, I'm going to pass it on to Skyler.
• 53:30
  We're not a little bit of a ramble, but I just wanted to
• 53:33
  educate our viewers and just like show everybody like look
• 53:36
  like Bitcoin business adoption is growing and it is not an
• 53:40
  option but to adopt AAA Bitcoin strategy for your treasury
• 53:46
  holdings. What's And it's not if, but
• 53:48
  when, right? I mean, Sailor said it's a
• 53:50
  melting ice cube. So what?
• 53:52
  What's it going to take? I mean, it's NVIDIA going to
• 53:54
  start holding Bitcoin on their treasury before everybody
• 53:57
  realizes it's a good idea. Berkshire Hathaway.
• 54:00
  Like, who's it going to take? I know me personally, I'm I have
• 54:03
  a Bitcoin treasure. Everybody should.
• 54:05
  There's no other answer. So you either get on now or
• 54:10
  never, or wait until somebody, your neighbor tells you it's a
• 54:14
  good idea. Nonetheless, all these small
• 54:16
  businesses will get on or they'll die.
• 54:19
  You know it's the zombie. Company metaphorically.
• 54:22
  Metaphorically. Metaphorically.
• 54:24
  Everything's metaphor. Yep, Yep.
• 54:28
  So it's only a matter of time. These mid sized businesses are
• 54:31
  going to have to adopt Bitcoin or go out of business and get
• 54:35
  bought out by Bitcoin business, right?
• 54:37
  You're going to see a whole generation of people taking over
• 54:40
  businesses and integrating Bitcoin and keeping them alive.
• 54:44
  I I think, I think it's only a matter of time.
• 54:47
  I 100% agree with you Opti. What's your take on all this,
• 54:50
  brother? Yeah, Well, first of all, I
• 54:54
  really appreciate River dropping that report.
• 54:56
  I think that's what we've been saying this whole year.
• 55:00
  Obviously as a Bitcoiner, we always get stupidly both.
• 55:03
  So we we always overestimate everything and we, you know,
• 55:07
  especially with price prediction and the the, the time frame of
• 55:11
  adoption. But I think this is good signal
• 55:14
  in regards to what we've been saying for a long time, that now
• 55:16
  the game has changed and everyone is looking at Bitcoin
• 55:19
  as a legitimate investment, a legitimate, Oh, my mic, did my
• 55:23
  mic come off a legitimate It's it's.
• 55:28
  Still on apparently. Legitimate investment and a
• 55:30
  legitimate asset to hold for your business.
• 55:33
  Obviously, like Tyler was saying, as a small business,
• 55:37
  there may be some volatility concerns, so don't put all of
• 55:41
  your assets into Bitcoin that you need to actually survive on,
• 55:47
  on your into Bitcoin for your balance sheet.
• 55:51
  But you should have some Bitcoin on your holdings.
• 55:55
  And you know, we've done this as simply Bitcoin and we always
• 55:59
  look at it as this, this opportunity to have a bigger
• 56:03
  runway so that we can continue to do this for as long as
• 56:06
  possible. But really while we were going
• 56:08
  through this, it reminded me of our conversation we had
• 56:10
  yesterday with Michelle from Bit Refill.
• 56:12
  And he basically said the same thing.
• 56:13
  He's like, yeah, as a company we did this and I forget what the
• 56:16
  dates were, but he's like, we did this in like 2014 or
• 56:19
  something. It was super risky at the time,
• 56:21
  but we accepted the risk and it helped our company grow.
• 56:25
  It helped us maintain the position that we're at.
• 56:28
  And I think that's what traditional financial businesses
• 56:31
  are are feeling right now. It does still feel like a risk
• 56:34
  for more most people because once you go down the Bitcoin
• 56:37
  rabbit hole, it's it's a no brainer.
• 56:39
  But when you're still in the traditional financial world and
• 56:43
  you do have a lot of bills to pay and everything is priced in
• 56:46
  Fiat terms, it, it seems like an unnecessary we move.
• 56:50
  But as we're seeing this year and I'm sure we'll see more of
• 56:53
  this next year that it's a no brainer for every company once
• 56:57
  they start looking at Microstrategy's returns, anyone
• 57:01
  and everyone is going to follow this strategy.
• 57:04
  But I think this is still the early innings of this game.
• 57:07
  And This is why we're kind of just seeing some trickling come
• 57:11
  in from companies, some companies that see the writing
• 57:14
  on the wall and they are thinking to themselves like how
• 57:16
  do I get out of this position? And it's obviously saving some
• 57:20
  Bitcoin, put some Bitcoin on your balance sheet and that they
• 57:23
  are going to succeed. So I think more people are going
• 57:25
  to follow suit what we see them happen in Q4 of this year, we'll
• 57:29
  see what happens. Most likely we won't get any
• 57:32
  signs of this until next year. But I think next year, as price
• 57:36
  starts to go up, it's going to grow exponentially.
• 57:40
  And and of course, like as a Bitcoin company that does hold
• 57:44
  Bitcoin on it's balance sheet, this year was probably and maybe
• 57:47
  even last year it was, it was really more of an ideological
• 57:50
  play because I don't think most people or most companies are
• 57:53
  willing to withstand the volatility of Bitcoin.
• 57:55
  But I think that is going to slow down in time and they'll,
• 57:59
  they'll start to see the value of Bitcoin.
• 58:00
  But anyway, let's get into the culture because I do want to
• 58:04
  talk about skyline. I don't want to put your, I know
• 58:06
  I don't want to dox too much of, of what you're saying, but you
• 58:09
  did drop it that you have done this personally and it has
• 58:12
  helped you. So let's get into the culture,
• 58:14
  Nico, and then we'll talk about this.
• 58:15
  Absolutely. All right, everybody, let's hit
• 58:17
  the culture. Here we go.
• 58:21
  The daily culture. All right everybody I want to
• 58:30
  tell you you guys about our sponsor, the orange pull app,
• 58:33
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• 58:51
  So if you're, you've lived in your city for a while or perhaps
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  you're travelling for a conference, whatever reason, and
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  orange pull app and it will literally show you
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  geographically Bitcoiners that are near you and it allows you
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  to send them a message directly and you can connect with them.
• 59:10
  It's a probably a good idea to build up that Bitcoiner Rolodex.
• 59:13
  I think Bitcoiners are going to be some of the most influential
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  powerful people over the next you know 5 over the next 5-10
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  fifteen years. So build up that Bitcoin or
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  Rolodex download the orange pull app, one of the best ways to
• 59:27
  reach me directly. I don't really answer Twitter
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  DMS these days or random emails. So if you want to reach me
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  download the orange pull app, send me a message and I'll get
• 59:36
  back to every single one of you guys in about a week or so.
• 59:39
  All right, everybody, I'm excited.
• 59:41
  We have we have a guest today, Skyler.
• 59:44
  Skyler is an expert or he's very he's highly knowledgeable in
• 59:48
  Bitcoin mining. And I'm going to start off this
• 59:50
  conversation before I pass it on to Opti because I am hijacking
• 59:53
  this a little bit. Skyler, like it is very painful
• 59:58
  to be a Bitcoin miner right now. My friends, you know the hash
• 1:00:01
  rate continues to make all time highs.
• 1:00:04
  For anyone who's doesn't know what that means, the amount of
• 1:00:06
  computational power that is actively mining the Bitcoin
• 1:00:10
  network. It's making all time highs,
• 1:00:13
  which means the difficulty goes even higher, which means that
• 1:00:16
  it's harder for a miner to mine Bitcoin, not to mention the
• 1:00:20
  having happened 3 or 4 to three or four months ago.
• 1:00:23
  So the amount of Bitcoin that would that is being mined got
• 1:00:26
  cut in half as well. Like, dude, talk about brutal.
• 1:00:30
  Talk about like, holy cow, what is going on?
• 1:00:33
  And it's interesting to see the hash rate continue to break all
• 1:00:38
  time highs despite this very, very, very brutal environment
• 1:00:42
  for for miners right now. If you don't have low power
• 1:00:47
  costs right now, you are struggling.
• 1:00:49
  So we have Skyler on today, Skyler on today to talk about
• 1:00:53
  this. What's your take on the overall
• 1:00:55
  mining market? Man?
• 1:00:56
  It's it's brutal right now. Brutal, brutal.
• 1:00:59
  I think we got 737 XA hash as of two days ago.
• 1:01:03
  It's it's not stopping. I mean, we're going to be at
• 1:01:05
  1000 XA hash with a Zeta hash by the end of the year, but people
• 1:01:10
  are going to keep plugging in machines.
• 1:01:12
  You know me personally, if there's a will, there's a way.
• 1:01:14
  I think we're going to have to find creative alternatives to
• 1:01:17
  what to do with our heat with our hash.
• 1:01:20
  And it's not just plug in a machine and get SAT's out the
• 1:01:24
  other end like it used to be. So I think moving forward, we're
• 1:01:28
  going to have a whole new industry based around mid size
• 1:01:32
  minors, right? The public eyes are going to be
• 1:01:34
  fine. They're going to keep raising
• 1:01:35
  capital, They're going to keep refinancing their their gains.
• 1:01:39
  You know, all those high level guys are going to be fine, but
• 1:01:43
  the small to mid sized miners are getting crushed.
• 1:01:47
  So unfortunately, you know, it's, it's a rough ship for
• 1:01:51
  these small operations. Yeah, 100 percent, 100% and,
• 1:01:56
  and, and, and the reason that the big guys are, are able to
• 1:02:00
  just like maintain it is because of economies of scale, right?
• 1:02:04
  So they're able to get really good deals, you know, different,
• 1:02:09
  you know, isolated energy pockets rotten around the world.
• 1:02:12
  There was this news that came out that the Kingdom of Bhutan
• 1:02:15
  decided to increase their their mining capability and capacity,
• 1:02:21
  partnering up with bit deer. And of course, you know, that's
• 1:02:23
  a tremendous amount of hydroelectricity.
• 1:02:25
  But you know, it's economies of scale come in like, you know, a
• 1:02:29
  smaller operation, you know, it, it, it, it these days it's
• 1:02:33
  pretty expensive to get one off the ground, to be honest with
• 1:02:36
  you guys. But you know, if you're building
• 1:02:40
  a facility for 10,000 miners as a whole, it's going to be a lot
• 1:02:44
  cheaper than if you're building a facility for 100 miners,
• 1:02:47
  right? And that's what I mean when I
• 1:02:49
  talk about economies of scale. Now I am very optimistic in
• 1:02:53
  terms of, and I love the way that Bob Burnett, CEO of
• 1:02:56
  Barefoot Mining phrases it. He calls it the rabbits, the
• 1:03:00
  horses and the elephants and, and like trying to categorize
• 1:03:06
  the size of each miner. And I am very, very bullish on
• 1:03:10
  the horses and the rabbits. And I think that the bit axe is
• 1:03:15
  just a great example of yeah, might one bit axe might not be a
• 1:03:20
  lot of hash rate, but you put together 2 million of those
• 1:03:23
  boys, you know, decentralized in the process, like good luck
• 1:03:28
  home, right? You know, good luck banning
• 1:03:31
  that. So yeah, I'm, I'm I'm very
• 1:03:33
  optimistic about that. Also, I hear a lot of news about
• 1:03:36
  flared gas happening, you know, in in the northern parts of
• 1:03:40
  America using excess hat excess gas to mine Bitcoin.
• 1:03:45
  It's not really scalable in the sense because each site only has
• 1:03:50
  so much capacity. And also it's, it's pretty
• 1:03:53
  technically complex to mine Bitcoin using flared gas.
• 1:03:57
  So that's another example of like off grid, smaller scale
• 1:04:01
  mining operations that are viable because remember, it's,
• 1:04:05
  it's flared gas. This gas is already going to
• 1:04:07
  waste. Actually, the US government
• 1:04:09
  penalizes you for flaring a lot of that gas.
• 1:04:12
  So you're actually incentivized to use that gas and what
• 1:04:17
  whatever better, what better use than just turning that gas into
• 1:04:21
  sweet, sweet Satoshi. So some of those, some of those
• 1:04:24
  sites, you know, they'll they'll, they won't gift it to
• 1:04:27
  you, but they'll sell you that electricity for very, very, very
• 1:04:31
  cheap. So, yeah, man.
• 1:04:34
  What are your thoughts on on, to use Bob's terms, the rabbits and
• 1:04:39
  the horse miners? I think that's great and I think
• 1:04:42
  it's only going to happen more and more.
• 1:04:43
  You know, here locally, we're looking at using Turkey litter,
• 1:04:47
  hog farms, chicken farms to, to mine off of the methane.
• 1:04:51
  And it's a creative alternative. Everybody's getting their back
• 1:04:55
  scratched. They get to, you know, set it
• 1:04:57
  there, reducing the amount of methane into the environment.
• 1:05:00
  We're looking at greenhouses that are burning through
• 1:05:02
  thousands of gallons of propane, capturing that, reducing their
• 1:05:06
  carbon footprint. So it's it's becoming a more
• 1:05:09
  resilient network in that way. And once again, this is small
• 1:05:12
  businesses integrating, working with miners.
• 1:05:15
  You don't have to have an operation for 10,000 units and
• 1:05:19
  you're already causing this methane to escape into the
• 1:05:22
  environment, So what better way to turn it into SAT's, right?
• 1:05:26
  That's that's really the only option moving forward.
• 1:05:29
  Absolutely, I'm into that opti. It's all yours.
• 1:05:32
  Yeah. So I really kind of want to
• 1:05:34
  pivot this and you just touched on it where more of your
• 1:05:37
  expertise comes in and it's small businesses using mining,
• 1:05:40
  reusing heat and finding alternative energy sources.
• 1:05:44
  Because I know in this last year or two, I've had so many friends
• 1:05:47
  that tried to deploy a mining, you know, farm and they went all
• 1:05:53
  in on mining and they got themselves absolutely wrecked.
• 1:05:56
  And personally, I'm glad that I just stuck to stacking stats,
• 1:06:01
  But I know you kind of have a different take on this and
• 1:06:04
  you're, you just keep doubling down on this view of there.
• 1:06:07
  There is an Ave. For small businesses and
• 1:06:10
  individuals to get into mining, which isn't just stacking stats
• 1:06:14
  but you'll be, there's alternative uses of your mining
• 1:06:17
  rigs that can potentially help your businesses.
• 1:06:20
  That's right and there's powers in numbers and I think if you
• 1:06:22
  have a good partnership, you know, I was talking to some guys
• 1:06:24
  out in Nashville who's uncle chops firewood and they want to
• 1:06:28
  integrate miners to kill and dry the wood, right?
• 1:06:31
  That's what I'm doing down here in North Carolina.
• 1:06:33
  So you're going to have to find alternative ways, revenues to
• 1:06:37
  keep your miners hashing, right? Because we all know when it
• 1:06:40
  pumps and runs up, you want to be mining.
• 1:06:42
  But what do you do right now? And when it's technically Fiat
• 1:06:45
  negative, you always want to keep your machines up.
• 1:06:49
  So finding those alternative solutions.
• 1:06:52
  You know, we've all heard about the Russian Bath Spa in New York
• 1:06:55
  that's heating their pools. You know, we've talked about the
• 1:06:58
  SAT sauna earlier. Any solution to just
• 1:07:02
  decentralize the network further is what we have to do.
• 1:07:05
  And I think that heat reuse is just in its beginning.
• 1:07:08
  You know, riots actually heating an entire community with A2 MW
• 1:07:11
  system in Finland right now, stuff like that.
• 1:07:14
  I've heard it's going on in Canada as well.
• 1:07:16
  So I think it'll just become the norm in a long enough time frame
• 1:07:20
  because, you know, that's bitcoiners.
• 1:07:21
  We're going to find a way and we're going to continue to reuse
• 1:07:23
  heat. We're going to continue to hash
• 1:07:27
  forever. Yeah.
• 1:07:28
  What? What do they say forever, Laura?
• 1:07:30
  It's going up forever, Laura. It's going up forever.
• 1:07:34
  All right, I got one quick question for you and then I'm
• 1:07:37
  sure it'll start another combo. But Skyler, if you had a one to
• 1:07:42
  two-minute pitch for someone out there and you're doing the
• 1:07:45
  elevator pitch for someone, what would be that pitch to try to
• 1:07:50
  get them to at, at the very least, look into the benefits of
• 1:07:55
  mining Bitcoin for their small business.
• 1:07:58
  Well, once again, I think it's a partnership that you would need
• 1:08:01
  to have and I would just ask them to consider looking at the
• 1:08:05
  overhead, their capital expense and see where we can deduct that
• 1:08:09
  expense, right. What are you spending right now
• 1:08:11
  on propane and let's offset that with SAT's.
• 1:08:14
  And once again, what's the best way to store your, I mean, if
• 1:08:16
  you want to start a treasury, let's just take an existing
• 1:08:19
  expense and turn it into savings.
• 1:08:21
  You know, that's what I think I would try to get because it's
• 1:08:24
  like Will Reeves does a great job with fold no coiners.
• 1:08:28
  You know, how do we get people to get off 0 free SAT's, right?
• 1:08:32
  They mine through the debit card.
• 1:08:34
  I would talk to a small business owner and say, hey, how are we
• 1:08:36
  going to integrate mining into your operation to save you
• 1:08:39
  money? You're already spending the
• 1:08:41
  money. Let's save that for your dirty
• 1:08:43
  Fiat and just convert it into SAT's directly.
• 1:08:46
  And you can start a treasury and you don't have to go out and
• 1:08:51
  talk to a tax guy and all these Fiat things.
• 1:08:55
  And you know, of course there's great ways to stack a stack
• 1:08:58
  however you can. But I think the most pure way
• 1:09:01
  and resilient way is to turn your existing dollars that
• 1:09:04
  you're spending into another into your treasury through
• 1:09:08
  SAT's. Love that, love that man.
• 1:09:10
  Wait, I got one more question. I want you to speculate a little
• 1:09:13
  bit here, Skyler. Is the Bitcoin mining bull run
• 1:09:17
  going to return or are miners going to be in the gulags
• 1:09:21
  forever? Like I said, if you want to get
• 1:09:26
  into mining, just go down to the boxing gym and get punched in
• 1:09:29
  the face, you know, from time and energy, you know, like we're
• 1:09:33
  not, we're not here for a we're here for a, for a revolution.
• 1:09:37
  It's not about, you know, it's the profit.
• 1:09:40
  So I mean, I'm fine the gulag with my boys.
• 1:09:43
  We, we know where we all stand, you know.
• 1:09:45
  So blog or not, you know, or yacht or not, we're here to
• 1:09:50
  stay. I love.
• 1:09:51
  That I love that. I love that that, ladies and
• 1:09:55
  gentlemen, is exactly why we're going to win.
• 1:09:58
  I had the honor of hosting a public minor versus, you know,
• 1:10:03
  off grid minor panel between, you know, public minor
• 1:10:07
  executives and Hoddle Tarantula and and Bob Burnett, of course.
• 1:10:11
  And I like I had to like, you know, separate the two.
• 1:10:16
  But it's it's it's so interesting because of course
• 1:10:19
  the public miners provide this huge amount of hash rate, but
• 1:10:22
  because they're so big, you know, they have the potential to
• 1:10:25
  be Co opted or, or more pressure could be put on them by by the
• 1:10:30
  state and by the government. And This is why off grid miners
• 1:10:34
  like yourself, Skyler and like the bid axe and you know,
• 1:10:38
  Tarantula doing his thing is so important because you, you just
• 1:10:43
  said it, man. You're like, bro, listen, I
• 1:10:44
  don't need the yacht. I'm here for the revolution.
• 1:10:46
  Like like you, you can't stop that.
• 1:10:48
  Like you get enough people with that thinking like that's an
• 1:10:52
  unstoppable movement. And that's what bitcoins all
• 1:10:55
  about, you know, and, and This is why Bitcoin has survived
• 1:10:58
  this, this this long, because I think a lot of us are here, yes,
• 1:11:02
  OK, we came for the money. You can definitely say that, But
• 1:11:05
  we stay for the revolution and we want to effectuate change.
• 1:11:08
  We want to change the world. We want to, we want to free
• 1:11:11
  mankind and humanity from the tyranny of central banking, and
• 1:11:15
  we need all hands on deck in order for that to happen.
• 1:11:18
  Anyways, any last words Skyler for our audience before we wrap
• 1:11:20
  it up? Well, you just you mentioned
• 1:11:22
  Hoddle Tarantula, I think he's offering like, you know, 1 cent
• 1:11:26
  and a half hosting on his off grid.
• 1:11:28
  You might have to do some maintenance or maybe there's a
• 1:11:30
  little fee he's charging. But I noticed that earlier.
• 1:11:33
  I mean, that's, that's incredible.
• 1:11:34
  That's incredible. You can do that stateside.
• 1:11:36
  You don't have to send your machines off to wonder where
• 1:11:38
  they are. You got a good old boy in in the
• 1:11:41
  Midwest that'll let you come and plug.
• 1:11:42
  So that's the movement that we're here for.
• 1:11:44
  That's the resiliency. I mean, he's not unplugging, you
• 1:11:48
  know? Absolutely bro, we refuse to go
• 1:11:51
  back. Go go.
• 1:11:52
  Sorry. Do it dude.
• 1:11:54
  We refuse to go back to a system that steals from us.
• 1:11:57
  No, no. What's the what's the Kamala
• 1:11:59
  Democrat meme right now? We're not going back.
• 1:12:03
  We are going back. We're not going.
• 1:12:06
  But anyways, anyways I do I do. Bitcoin unburdened yourself
• 1:12:09
  from. What?
• 1:12:10
  No, no, there's the new one. It's like we're not going back
• 1:12:12
  or something like that. But anyways, Skyler, I do want
• 1:12:16
  the last words cuz I know this is what you're about and this is
• 1:12:19
  what you're telling us before the show about Bitcoin.
• 1:12:22
  It's more about the revolution than just a number go up.
• 1:12:25
  So do do one last little little plug on why the revolution is so
• 1:12:29
  important to you, and then we'll wrap this one up.
• 1:12:31
  We just got to get back to sound money.
• 1:12:33
  But you know, full stop, that's just it because everybody knows
• 1:12:36
  what Fiat's done. You know, me and a friend were
• 1:12:38
  talking just the other day, if it weren't for Fiat, we'd have a
• 1:12:40
  better trash compactor. If it weren't for Fiat, like all
• 1:12:43
  these people are in this Fiat industry, just their life, just
• 1:12:47
  wasting it, and we just got to get back to a place where people
• 1:12:51
  enjoy what they do. Save and sound money.
• 1:12:53
  Not everybody needs to be an investor.
• 1:12:55
  In fact, it's a terrible idea. Just save and sound money and
• 1:12:58
  you'll be fine and you can get back to living the life you want
• 1:13:00
  to live. A. 100 percent, 100% All right
• 1:13:04
  everybody, that was simply Bitcoin live for September 5th,
• 1:13:08
  2024. I'm your host, Nico is my Co
• 1:13:11
  host Optimus Fields and our guest for today Skyler.
• 1:13:15
  I think maybe Skyler will be making some content for us,
• 1:13:19
  maybe potentially. Anyways guys.
• 1:13:21
  Might be coming. If you guys enjoyed the show,
• 1:13:24
  you know to smash the like button, consider subscribing.
• 1:13:26
  Tomorrow's going to be an interesting day for Simply
• 1:13:29
  Bitcoin. So stay tuned and we love you
• 1:13:31
  all. Have an amazing Thursday and
• 1:13:34
  we'll be back tomorrow for the last episode of the week for
• 1:13:38
  Simply Bitcoin Live. Episode was brought to you by
• 1:13:42
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