Latest / Simply Bitcoin / Gary Gensler Grilled on Spot Bitcoin ETF Approval | EP 834

Transcript

Gary Gensler Grilled on Spot Bitcoin ETF Approval | EP 834 · Simply Bitcoin

• 0:09
  It's. All going to zero against
• 0:11
  Bitcoin. It's going up forever.
• 0:21
  You're against Bitcoin. You're against freedom.
• 0:26
  Yeah, welcome to another episode of Simply Bitcoin Live or your
• 0:29
  number one source for the peaceful Bitcoin revolution of
• 0:31
  current breaking news culture, Matic Warfare.
• 0:32
  We will be your guide through the separation of money and
• 0:35
  state today. Speaking of the separation of
• 0:38
  money and state, today's going to be a interesting episode.
• 0:41
  We have so many clips that, you know, so many Bitcoin news
• 0:46
  sources were just posting on Twitter of Gary Genzert being
• 0:51
  completely annihilated yesterday in Congress.
• 0:55
  A lot of people were just asking them very basic questions.
• 0:58
  Is is Bitcoin a commodity or is it a security?
• 1:01
  He couldn't give a straight answer to that.
• 1:03
  Why are you guys delaying a spot Bitcoin ETF?
• 1:07
  You guys know our take at simply Bitcoin.
• 1:09
  We've been covering this diligently for the last couple
• 1:11
  months or so we believe at this point, you know it might be
• 1:15
  there's no, you can't say for sure, but it sure does seem like
• 1:19
  it could potentially be politically motivated.
• 1:22
  Why? Because we know how the Biden
• 1:24
  administration. Feels about the industry.
• 1:27
  We had Caitlin long on simply Bitcoin IRL and she said that
• 1:30
  her bank, the custodia bank that she's launching in Wyoming, was
• 1:33
  denied a federal banking charter.
• 1:35
  She believes that that order came directly from the White
• 1:38
  House. Also not to mention all the
• 1:40
  other reports that came out. For example the Presidential
• 1:43
  Economic Report that came out earlier on this year where they
• 1:46
  made the case as to why Central bank is necessary, why CBD C's
• 1:50
  are necessary and why you can't have money without a government
• 1:54
  right? So that being said, also, we
• 1:57
  were talking to our guest today backstage, and he wanted to talk
• 2:01
  about Bitcoin potentially returning to China, so we added
• 2:05
  that into the news lineup. That's gonna be a interesting
• 2:08
  conversation. All in all, I'm super hype for
• 2:11
  today's show, like always. No more delay.
• 2:13
  Let's bring Brandon on up on stage.
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  How you doing, Brandon? Brandon from Bitcoin Magazine.
• 2:18
  How you doing bro? Hey man, it's good to see you.
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  I'm doing well. Welcome to the show.
• 2:24
  But yeah, dude, the conversation we were having, you know, before
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  we went on air, just fascinating to me because that's something
• 2:30
  that we've been covering for a couple months now, right?
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  This this whole thing where you know, they're they're the the
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  the CCP China is using Hong Kong as we make the case that they're
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  using as a test bed, right to, you know try to incentivize, you
• 2:47
  know, industry players to come from overseas to set up shop in
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  Hong Kong. And there's been even articles
• 2:53
  that have admitted that they needed the stamp of approval
• 2:56
  from Beijing in order for that to happen.
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  I think it's just another example of you can't resist
• 3:02
  bitcoins incentives. But you were telling me some
• 3:04
  things before that I didn't know, which I'm really, really
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  excited to talk about today. So.
• 3:09
  So yeah, man, welcome to the show.
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  Anyways, I also want to bring up my legendary cohost.
• 3:13
  Always optimistic. He has a something different
• 3:17
  about him today. How you doing, Avi?
• 3:19
  I am doing wonderful. What's up guys?
• 3:21
  How you doing today? Excited for today's show.
• 3:25
  I do have a new mic in here. That's what Nico is talking
• 3:27
  about. We're we're we're upgrading
• 3:30
  here. I I'm not sure if I dialed in
• 3:32
  the settings yet so tell me in the in the chat whether whether
• 3:35
  I need to dial them in more but man what's up everyone we're
• 3:38
  back. Good to have you Nico.
• 3:41
  As I was telling everyone in spaces, you know I I enjoy
• 3:44
  doing. The hosting duties.
• 3:46
  But I I love being the passenger Princess and just hanging out
• 3:49
  and talking big clone with my friends.
• 3:52
  Man, I mean, you're killing it, bro.
• 3:54
  Yesterday's show popped off. Opt.
• 3:55
  Opties. Opties.
• 3:56
  Learn, man. Opties.
• 3:57
  Uh, opties become a hell of a. Hold on.
• 4:00
  Since we have Brandon here, you know Nick can't.
• 4:02
  Mine isn't the only one that has the algos.
• 4:05
  We are learning the algos, bro. No.
• 4:07
  Hey. The YouTube out goes or YouTube
• 4:10
  I'll go. They're different.
• 4:11
  Our YouTube Outgo game is strong, but Nick can't.
• 4:13
  Mine is a is a. Twitter algo guru man for sure
• 4:17
  he's. A machine.
• 4:19
  He's a machine. He's a monster.
• 4:21
  He's a monster in a good way. So, yeah, really excited about
• 4:25
  today's show, guys. No more delay.
• 4:27
  Let's jump straight into the numbers.
• 4:29
  We got a lot to talk about today.
• 4:30
  Let's check it out. The Bitcoin numbers.
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  Don't store it on paper. You don't want to have that
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  conversation with your grandchildren.
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  Why you lost your Bitcoin because you started on paper.
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  At the time of recording, Bitcoin is pumping 27,155 Sat's
• 5:57
  per dollar. 3683 Block height 809,762 blocks to having 30,238
• 6:07
  having estimate April 21st 2024 Total Lightning network capacity
• 6:12
  4398 Bitcoin Capacity Value 119 million U.S. dollars Realize
• 6:20
  monetary inflation 1.75%. Continuing to take Fiat
• 6:26
  currencies to absolute school, the market capitalization of
• 6:29
  Bitcoin $529 billion of the B Bitcoin versus gold market cap
• 6:35
  4.18%. Eventually that will be 100%.
• 6:40
  Eventually that will be more than 100% if Bitcoin reaches the
• 6:43
  the the gold market cap. That puts the price of Bitcoin
• 6:47
  at about 500,000 per coin. Anyways, today's video that
• 6:52
  we're going to talk about is a blast from the past.
• 6:55
  Check this out. You know, this is so crazy.
• 7:00
  This wasn't even that long ago, but a documenting Bitcoin posted
• 7:05
  a video. This historic television news
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  report explain how to buy an entire Bitcoin for only three.
• 7:13
  Dollars, right. Could you imagine buying a
• 7:16
  Bitcoin for only $3? That's crazy.
• 7:20
  People look back on this, you know, 10 years from now and
• 7:23
  they'll be like, holy cow, how did that happen?
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  But I think that serves as a message to today because, you
• 7:30
  know, at that time when they were talking about Bitcoin being
• 7:33
  at only $3, no one was paying attention, obviously.
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  So it's a I think it's a. It's a lesson for.
• 7:40
  You don't. Where is Bitcoin gonna be 10
• 7:42
  years from now? I truly believe because of its
• 7:45
  absolute scarcity, because it's just simply better money.
• 7:49
  You know, 27,000 is gonna seem like a hell of a deal 10 years
• 7:55
  from now, 20 years to now. You know, I think it's gonna
• 7:57
  melt people's faces when you tell them that you were able to
• 8:00
  pick up one Bitcoin for 27 K Anyways, no more delay.
• 8:04
  I'm gonna play you guys the video and then we'll talk about
• 8:06
  it. The dollar.
• 8:07
  Japan has the yen and the Internet.
• 8:10
  It has the Bitcoin. Yeah, this online currency
• 8:12
  officer offers a new way to use money, but many aren't sold on
• 8:16
  the idea. Kelvin is 13's JD.
• 8:17
  Wallace is live. Tonight with his special report
• 8:19
  to show us what Bitcoin. Offers and why some?
• 8:22
  People stay away from it, JD Well, Heather, there's a reason
• 8:26
  we call it cold hard cash. It's right here.
• 8:28
  They're going to be a pain to send somewhere.
• 8:30
  And some think that banks are too involved with cash
• 8:33
  transactions and value. Well, that's where Bitcoin comes
• 8:36
  in. It's.
• 8:38
  Anonymous and constantly changing in value, both
• 8:41
  supporters and doubters agree Bitcoin, a new kind of money, is
• 8:45
  a risk. Taking money online can be a
• 8:51
  game changer in the world of bank transactions and interest
• 8:54
  fees. A lot of people see Bitcoin as a
• 8:58
  way to kick out the role of a central bank.
• 9:02
  And basically fire it. Bitcoin enthusiast Mike Caldwell
• 9:05
  says converting cash to the online currency is convenient.
• 9:09
  I don't have any philosophical problems with the government.
• 9:12
  I pay my. Taxes like I should I I'm a good
• 9:14
  citizen. I follow the laws.
• 9:17
  Here's how it works. Bitcoins were created in 2009.
• 9:21
  As the number of them goes up, the virtual money gets harder
• 9:24
  and harder to create. To try to control the value
• 9:27
  early this year, you could buy a Bitcoin for less than a buck and
• 9:30
  sell it for 30 this summer. Or by now, one is worth just a
• 9:34
  few dollars. But Caldwell says the real value
• 9:36
  is for sending cash in the form of bitcoins.
• 9:39
  It's not a way to. Make money or lose money.
• 9:42
  It's a way to get money from point to point B.
• 9:45
  The value of the coin really means nothing compared to the
• 9:48
  technology, not. Only you want to be careful
• 9:51
  using Bitcoin. You want to be careful with
• 9:53
  entities that are asking you to use Bitcoin as their currency,
• 9:56
  because there's generally as a possibility that there's they're
• 9:59
  trying to hide something. Here, data doctor CEO Ken
• 10:03
  Colburn shows us an exchange. They're worth just over $3 each
• 10:08
  and most people so. I'll I'll let you guys decide
• 10:13
  who was wrong and who was right. But yeah, it you know, anyone
• 10:18
  who listened to that person's advice that I don't want to name
• 10:23
  him, but, you know, that specific individual absolutely
• 10:27
  wrecked. And that guy's predictions must
• 10:30
  have sounded like absolute crazy talk, like loony talk.
• 10:35
  Back then, right, this idea like, Oh yeah, this is the money
• 10:38
  to replace the central bank. Remember?
• 10:40
  Look guys, we talked about the concept of the Overton window a
• 10:42
  lot on the show, right? Think about how much it has
• 10:45
  shifted since then. Bitcoin is now legal tender of a
• 10:49
  country. You know, Michael Saylor is
• 10:51
  proving that it's an alternative to holding Fiat on its balance
• 10:55
  sheet. You have the block, Black Rock
• 10:56
  spot, Bitcoin ETF back then, like that was unheard of, right?
• 11:02
  So that guy called it. And that guy must have so much
• 11:05
  corn and I saw someone in the chat that he was the inventor or
• 11:09
  he created the original physical bitcoins that would have a like
• 11:13
  a Bitcoin on them like with the QR code on the back.
• 11:16
  Cassacious. Coin.
• 11:17
  Yeah, cassacious coin. I didn't want to say the name
• 11:19
  cuz I knew I was gonna butcher the pronunciation.
• 11:22
  But yeah man, holy cow, that guy's an absolute legend.
• 11:25
  He nailed it and I think he got it absolutely right and I think.
• 11:30
  To be fair, the news people were neutral about it, and a lot more
• 11:33
  neutral than they would be today.
• 11:35
  And that other guy, hashtag Wrecked.
• 11:38
  Definitely, definitely regrets not picking up some corn
• 11:42
  anyways. Brandon, what's your take?
• 11:43
  And then we'll move on to Opti. Yeah, a few takes #1I I went and
• 11:47
  looked up this Ken Colburn guy on Twitter.
• 11:50
  Like my take is there needs to be aware they now show of like
• 11:54
  people who are talking about Bitcoin and and you know 2011
• 11:58
  just to like. Check in and see what's going
• 12:01
  on. Also, while I was playing, I was
• 12:03
  looking up like this. This aired in Tucson, AZ.
• 12:06
  I got to wonder if there's like one person in Tucson who watched
• 12:10
  this news article or this new show was like, I'm going to buy
• 12:13
  some and like, you know, that's their origin story in Bitcoin,
• 12:16
  which would just be cool. So, you know, those are my
• 12:20
  thoughts, but dude, I mean, it's crazy to think that it was in
• 12:25
  the news in 2011 like that. Still with people being like,
• 12:29
  oh, it's risky and and you know, it was risky at $3, man, you
• 12:36
  you've got to be really salty right now.
• 12:37
  Yeah, dude, that that that must, that must have hurt.
• 12:40
  That must have hurt, you know, but and now you know you now,
• 12:44
  it's like you talk about Bitcoin now and there's a big portion of
• 12:47
  the population that's like this thing isn't risky.
• 12:50
  Like this is common sense. Like this is this is like
• 12:54
  obvious, you know? So any where do you think we are
• 12:57
  in the adoption curve, You know there's that famous like you
• 13:01
  know innovators early majority, you know I forget that forget
• 13:06
  what comes after innovators, but you know what I'm talking about,
• 13:08
  where do you think we are in the in the adoption curve brand?
• 13:12
  I think it goes like innovators, early adopters, early majority,
• 13:16
  late majority late adopters like that, right and then holdouts.
• 13:20
  So I think that we're very much in like that innovator or in the
• 13:24
  early adopter phase. Probably like halfway through
• 13:28
  it, but I think at the end of this cycle we'll be into the
• 13:30
  early majority. So you know the, the reason why
• 13:35
  I think that is we've generally seen like around the 10X in
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  terms of like the users of Bitcoin through every single
• 13:42
  having cycle. So you know, if you want to say
• 13:47
  we're somewhere in the ballpark of 100 million.
• 13:51
  Crypto people, let's say which huge subset of them obviously
• 13:56
  are bitcoiners? Then I think that you should be
• 13:59
  expecting a billion in the next cycle, and it's our job to make
• 14:04
  sure that it's a billion bitcoiners and not a billion
• 14:06
  people stuck in some worthless other.
• 14:10
  I don't know if you're allowed to cuss on the show, but the
• 14:13
  other coins that are. Just you can say shit coin.
• 14:15
  It's Okay. Okay.
• 14:17
  Yeah. You don't want to be in a shit
• 14:18
  pointer in the early majority. I mean, imagine so.
• 14:22
  Yeah, dude. I mean, I think this next cycle
• 14:25
  is going to be nuts. Like melt Your faces crazier
• 14:28
  than any other cycle we've had. And we had a country make
• 14:33
  Bitcoin legal tender in the last cycle.
• 14:36
  Imagine where we're going to be in this next one.
• 14:39
  I just you know. I have some bold predictions,
• 14:41
  but you know, some of them are maybe even too bold to say
• 14:44
  publicly without getting laughed at.
• 14:46
  So. It's interesting because a lot
• 14:48
  of people, you know, I see the kind of like this, a lot of
• 14:53
  people were let down by the last cycle.
• 14:56
  And I think that there were some, there are some reasons for
• 14:58
  that, right, that rehypothecation, but most
• 15:01
  importantly the China ban which happened right in the middle.
• 15:05
  Of the last cycle when the price was going up, China ban
• 15:08
  happened, Hash Ray plummeted and that took down the price with it
• 15:11
  as miners had to sell Bitcoin to relocate their miners which is a
• 15:14
  very expensive process. But you were saying something
• 15:17
  before we aired that you know I'm going to ask you about that
• 15:19
  during the news but but but yeah man, I I think that it's always
• 15:26
  the opposite, right. Last cycle, people are like,
• 15:28
  holy cow, this thing's going to go to 250K.
• 15:31
  And I think what I, with the general consensus now that I see
• 15:34
  on Bitcoin Twitter is this like very, very conservative, like,
• 15:38
  oh, you know, we'll be lucky if this thing reaches 100K.
• 15:41
  We'll be lucky if this thing reaches 120K.
• 15:44
  So that's what I'm hearing. That's what I'm what I'm what
• 15:47
  I'm listening, what I'm seeing, right.
• 15:48
  It's an observation, right? But what happened last cycle was
• 15:52
  the exact opposite of what the masses thought you know could
• 15:55
  could could a similar story repeat?
• 15:58
  Brandon, you want to add to that?
• 16:00
  Yeah. So I mean you know the the three
• 16:01
  big things I saw last cycle that just kind of ruined the market
• 16:06
  structure. Number one, obviously the China
• 16:08
  band like you mentioned, which we'll get into later.
• 16:11
  Number two, I think Elon played a huge role.
• 16:15
  If you look at just, you know, that's how big we were in the
• 16:18
  last cycle, right. Someone like Elon Musk could
• 16:20
  play a big role in in the, you know, market structure of
• 16:24
  Bitcoin. And I remember in like early
• 16:26
  January or something, he put out his like, in hindsight, it was
• 16:29
  inevitable. Bitcoin in the bio, everyone
• 16:32
  went nuts. And then, you know, right around
• 16:36
  the same time as the China band came out, Elon came out saying
• 16:40
  like, oh, I didn't realize how much of an economic or an
• 16:42
  environmental impact Bitcoin had.
• 16:44
  And you know, he kind of not fully turned on it, but
• 16:48
  definitely helped. The downward pressure on the
• 16:51
  market, so that was #2 and then #3 was the leverage in the
• 16:54
  system. I mean more so than any other
• 16:57
  market cycle. So many people were buying
• 17:00
  Bitcoin on leverage. They weren't actually stacking
• 17:04
  Sats and and self custodying. They were putting it on, yeah,
• 17:07
  FDX, paper, Bitcoin, you know that that you can't actually
• 17:13
  know the the underlying assets or even there.
• 17:16
  And it turns out, you know, a year later or half a year later,
• 17:20
  we find out FTX has a synthetic Bitcoin short that they created
• 17:24
  by, yeah, creating more Bitcoin than we're actually on the
• 17:28
  exchange. So you know, all three of those
• 17:31
  things I think fed together in order to hurt the the, you know,
• 17:37
  bull market structure. But number one, Bitcoin, I think
• 17:41
  cannot be affected by Elon at this point.
• 17:44
  I think we're just bigger than that in #2.
• 17:51
  You know, China is going to continue to evolve in terms of
• 17:54
  how they're going to see Bitcoin and we'll talk about that later.
• 17:57
  And then number three, I think like you know, maybe we haven't
• 18:00
  solved the leverage issue, but I'll actually say maybe this
• 18:04
  leads into another topic, but an ETF does a lot to fix some of
• 18:10
  those problems. And so you know.
• 18:13
  I can explain that more. We can kind of pause there, but
• 18:16
  that's. What I'm thinking, the general
• 18:19
  consensus of what you're saying, Brandon, is you feel bullish.
• 18:23
  You feel bullish about the next cycle.
• 18:25
  And I completely agree. And yeah, man, I agree with all
• 18:32
  the points that you're saying. There are so many variables and
• 18:35
  I think Bitcoin will be so big that it'll be hard for any one
• 18:38
  single individual. To influence it.
• 18:42
  Anyways, Opti, what's your take on all this before we move on to
• 18:44
  the news? Yeah, I mean, I'm gonna double
• 18:46
  down kind of what Brandon was saying.
• 18:47
  I've been saying it for a while as well that I'm also fully
• 18:51
  convinced that this next bull run is going to be absolutely
• 18:55
  bananas. Like it?
• 18:57
  From everything I'm seeing, it seems like it's going to be one
• 19:00
  of those perfect storm moments. I I hate to say that it's super
• 19:03
  cycle time, but it does feel like it's going to have some
• 19:07
  very, very huge green candles, God month candles up here and
• 19:12
  it's just going to be awesome to be a part of.
• 19:15
  And then kind of back to what we were talking about in that
• 19:17
  video. Mika, you asked the question,
• 19:19
  like, Can you imagine buying Bitcoin at $3?
• 19:22
  No, I can't because I didn't. I was too stupid to understand
• 19:25
  Bitcoin in 2011 actually. I was a kid so I, you know, I
• 19:28
  didn't have money anyways, but I I still feel that 27 K is is
• 19:33
  stupidly cheap. Like it's incredibly undervalued
• 19:36
  right now and people are still not buying it and they probably
• 19:39
  won't buy it until it breaks all time high anyways.
• 19:42
  So like right now is and and actually Brandon asked a great
• 19:45
  question. You know, three $3 Bitcoin seem
• 19:48
  risky and yet people are still saying the same thing about
• 19:50
  $27,000 Bitcoin and it still feels risky to people And it's
• 19:54
  like. I am one of those people that
• 19:57
  Nico was talking about where this feels like the safest thing
• 19:59
  to be holding in my opinion. But I really enjoyed that video
• 20:03
  because, like, what the video was in 2011 and the journalism
• 20:07
  around Bitcoin at the time is better than we're seeing now,
• 20:10
  yeah. That's so actually neutral.
• 20:13
  It's like these are the these are the pros, these are the
• 20:16
  cons. Actually incredible.
• 20:17
  Like, imagine if we saw that type of coverage today about
• 20:21
  Bitcoin, there'd be a lot more Bitcoiners.
• 20:23
  And obviously we're we're starting to see.
• 20:25
  Things that this happened in real time.
• 20:27
  You know we had Mickey come on here and talk about Forbes and
• 20:30
  stuff and and I'm sure as this BlackRock ETF's or all the ETF's
• 20:34
  rather start to get approved we'll see the tune change around
• 20:37
  Bitcoin. But there was one thing she said
• 20:39
  that I really enjoyed and I think it's a great meme that we
• 20:41
  should steal. And she goes the the US has a
• 20:44
  dollar, China has a yen and the Internet has Bitcoin.
• 20:47
  Like, that is a solid meme that you can plant in people's brains
• 20:50
  to kind of explain what is actually going on out here.
• 20:54
  But I mean it just goes to show. Also in another sense, I don't
• 20:58
  know if you guys saw the video and people were saying like what
• 21:00
  this video looks like it's from 1990s, like what is going on?
• 21:03
  It just goes to show how far Bitcoin has come so people don't
• 21:06
  realize how long ago 2011 was bro.
• 21:09
  What's like 12/20/11 dude? But like the lifetime that they
• 21:14
  were using, like the Ui's from the West.
• 21:16
  AOL bro dude. Like AOL don't realize like that
• 21:20
  was a really long ass fucking time ago.
• 21:22
  Right. Bitcoin just came along when,
• 21:25
  yeah, everything has like the Internet, you know, Like, could
• 21:28
  you imagine, like, streaming this in 2011?
• 21:30
  You've been like, no, that's impossible.
• 21:32
  But even like a big thing in 28 was it was but it was just came
• 21:36
  out. It was just starting, bro.
• 21:37
  It was just starting. Anyways guys, before we move on
• 21:40
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  earth, Bitcoin 2024. All right, Opti, let's get to
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• 23:51
  I also want to give a shout out to our viewers on Rumble that
• 23:54
  continues to go up. So if you guys don't see us on
• 23:57
  YouTube for whatever reason, you could find the live stream on
• 24:00
  Twitter and you could find it on Rumble.
• 24:01
  So shout out to all of you that are watching us on Rumble.
• 24:04
  And of course shout out to all of you guys that are watching us
• 24:06
  on YouTube. If you're enjoying the show,
• 24:08
  make sure to smash that like button.
• 24:10
  Help us keep our streak of breaking 100 likes within the
• 24:14
  first hour of the show. Anyways, we're going to go
• 24:17
  straight into Gary Genzler getting absolutely grilled.
• 24:21
  But I had a really good conversation, you know the
• 24:24
  couple minute conversation with Brandon before and he had some
• 24:29
  some experiences in Hong Kong. I just wanna give just wanna set
• 24:33
  the, you know, set the scene, give a little bit of context.
• 24:36
  This is a Washington Post article says why Hong Kong wants
• 24:39
  to be a hub for the crypto sector.
• 24:42
  So we've been covering this for quite a while.
• 24:44
  The theory that I've made is that they're using the one
• 24:49
  country, two systems where Hong Kong is this supposedly, you
• 24:53
  know, it's it has a system, it has a separate government type.
• 24:56
  You know, it was a British colony for a long time and part
• 25:00
  of the deal was that they were going to keep the government,
• 25:02
  the government system separate. Obviously that has changed over
• 25:07
  the years. You know, freedom of speech was
• 25:09
  attacked for a while. But what's really, really
• 25:11
  interesting is, again, the push by the Hong Kong government to
• 25:16
  attract Bitcoin and shitcoin businesses back to the city.
• 25:21
  Now they could only do this with the stamp of approval of
• 25:26
  Beijing, right? And there's something that not
• 25:28
  only simply Bitcoin has said, but I think the Washington
• 25:30
  poster is Reuters anyways. It was a legacy corporate media
• 25:34
  outlet that had that came to that same conclusion as well.
• 25:37
  Anyways, Brennan, do you have any more insights into what's
• 25:40
  going on, your thoughts into, you know, cuz you said something
• 25:44
  to me right before that really caught me off guard cuz I
• 25:47
  haven't really heard anyone else say it, which is you.
• 25:51
  You suspect that you're going to see a rise of Bitcoin use in
• 25:55
  China once again? Yeah, totally.
• 25:58
  So you know, I think that the Asian market for Bitcoin is
• 26:01
  going to be a huge one in this next cycle in general.
• 26:05
  You know, it was the driving market really in even in the
• 26:09
  2017 kind of era and especially before then most Bitcoin miners
• 26:15
  were in China. You know, obviously bit main was
• 26:18
  in China and you know what really happened, What we saw in
• 26:22
  2017 was that was kind of the first big Bitcoin.
• 26:26
  Banned by China first of all and second of all you have this
• 26:30
  scaling war right like because you know Jihan and and bit main
• 26:36
  were so probe on chain scaling and Bitcoin cash.
• 26:40
  You had a large portion of the the Asian market actually go
• 26:43
  into Bitcoin cash. Obviously they got wrecked and
• 26:48
  you know there didn't work out well for him, but there's still
• 26:52
  bitcoiners out there, right? And so.
• 26:55
  I see. You know the the Bitcoin cash
• 26:57
  kind of fork is is dead, right? Like if you're still kind of
• 27:01
  holding on to that, I don't, I don't know what you're expecting
• 27:03
  to happen at this point. So there's like that portion of
• 27:06
  the market that's gonna come back to Bitcoin.
• 27:08
  It is they are coming back to Bitcoin right now.
• 27:11
  And then secondly, you know everyone who was in China when
• 27:15
  China banned Bitcoin purchases, right, like they banned the the
• 27:19
  purchasing and selling of Bitcoin.
• 27:21
  They didn't ban ownership of Bitcoin, though.
• 27:23
  So they're all just sitting on their sats and they're there
• 27:28
  like they're still bitcoiners, they're still in China.
• 27:31
  They just aren't allowed to buy Bitcoin right now.
• 27:33
  Now tying it back to this Hong Kong kind of change in tone, you
• 27:38
  now have the ability for crypto in web three quote UN quote
• 27:43
  companies to. Start offering Bitcoin purchases
• 27:48
  once again. Now you have to have like a Hong
• 27:50
  Kong address or a Hong Kong cell phone or you know, some way to
• 27:54
  kind of locate yourself there. But it's the first real
• 27:58
  opportunity for kind of mainland Chinese bitcoiners to really
• 28:02
  start getting back into the Bitcoin market and and start
• 28:05
  buying again. So that's huge.
• 28:08
  And then you know the second piece of this, obviously we
• 28:10
  mentioned trying to ban Bitcoin mining in in 2021.
• 28:15
  And they left, but not entirely. And we are starting to see, you
• 28:21
  know, the Chinese bitcoiners, man, like they're a different
• 28:23
  breed from even us American bitcoiners.
• 28:25
  They are resourceful. They are rebels.
• 28:29
  And you know, they're finding ways to basically get back into
• 28:34
  the Bitcoin mining game in China.
• 28:36
  And so some of the things that they're doing, there's a lot of
• 28:38
  like hydroponics there that you know, require heating sources
• 28:43
  and so. They're disguising Bitcoin
• 28:46
  mining as heating sources for the hydroponics there.
• 28:50
  Similarly rural villages, they need kind of flowing air heating
• 28:55
  in the winter time, etc. Where's that heat coming from?
• 28:58
  It's maybe coming from Bitcoin mining now and they just don't
• 29:01
  even realize it right? And so there's a ton of
• 29:04
  infrastructure that gets built out.
• 29:06
  That people are not realizing is kind of being powered by Bitcoin
• 29:10
  mining and and so they're reintegrating into the Chinese
• 29:14
  infrastructure and I think that's huge.
• 29:15
  It's also great for Bitcoin, right?
• 29:17
  Like instead of these being just kind of these large data center
• 29:22
  type structures, Bitcoin mining just becomes like a, you know,
• 29:27
  translation of energy and a creation of heat as a byproduct
• 29:30
  that we use in everyday life. And I think that that's like
• 29:33
  super bullish. In general for for just you know
• 29:36
  the structure of Bitcoin mining. So you know those things are
• 29:39
  starting to compound. The other thing that I did
• 29:42
  mention kind of before the call that's at least worth kind of
• 29:45
  keeping track of is Hong Kong has I think an agenda with Web
• 29:51
  Three. Again, they use that term, I
• 29:53
  wouldn't use that term. That's the term they use is Web
• 29:55
  Three and really I think what they're expecting to be able to
• 29:59
  build is a Hong Kong dollar. Stablecoin.
• 30:04
  And so it's not the most bullish kind of outcome here, but I
• 30:09
  think the bullish part of it or the exciting part of it is that
• 30:13
  there's no way for them to kind of create the infrastructure,
• 30:18
  the regulatory environment to create a coin like that without
• 30:21
  also opening it up to Bitcoin and so.
• 30:24
  I very much see like Bitcoin kind of Trojan horsing in along
• 30:28
  with whatever quote UN quote web three environment they're trying
• 30:32
  to create and the Bitcoiners will take over because it's
• 30:37
  we're the only game in town truthfully.
• 30:38
  So that's the broad kind of broad strokes of what I'm seeing
• 30:43
  over there and I see it as just a huge trend.
• 30:46
  Not enough people are talking about this.
• 30:49
  Asia will once again overtake the West in terms of trading
• 30:52
  volumes for Bitcoin, in terms of buying purchasing power for
• 30:57
  Bitcoin and innovation. I think too, the regulatory
• 31:01
  environment's just way more right.
• 31:03
  Tons of companies are relocating over there.
• 31:04
  And so for all those reasons, very bullish on Asia, very
• 31:08
  bullish on China and Bitcoin. Yeah.
• 31:11
  And it's it's interesting you say that, right?
• 31:12
  Because I remember I talked to a buddy of mine who I've known for
• 31:16
  a very, very long time. He's, you know, he's, he's
• 31:19
  Chinese. He lives in mainland China and
• 31:22
  you know he's a, he's huge into Bitcoin.
• 31:24
  And I asked him when the, you know, when the China ban
• 31:27
  happened and I said, hey man, aren't you worried?
• 31:29
  And then, you know, with a heavy accent, he said, no, Nico, what
• 31:34
  doesn't kill the honey badger makes it stronger.
• 31:36
  And I'm like, holy cow, you know, we're all speaking the
• 31:39
  same language and we're separated, you know, thousands
• 31:42
  of miles away. And Bitcoin?
• 31:44
  Is this like this unifier? Anyways?
• 31:48
  Opti, what's your take on all this before we hit the Gary
• 31:51
  Gensler news? Yeah, well we've been kind of
• 31:53
  saying the same thing about the US that now moving forward like
• 31:57
  the only game in town is Bitcoin.
• 31:59
  And so all that shit coin Capital that's been wasted going
• 32:02
  to shit coins is going to finally get funneled back into
• 32:05
  Bitcoin. And so really awesome to hear
• 32:08
  brands takes on that also happening in in Asian countries
• 32:12
  as well. And I think moving forward, it
• 32:14
  kind of goes back to what we said in the numbers like this
• 32:16
  bull. Is most likely going to be set
• 32:19
  up for a perfect storm of just being absolutely epic for
• 32:22
  everyone that's been stacking this brutal bear market.
• 32:25
  And so now it's not the time to take your foot off the gas
• 32:28
  because things are getting more and more interesting by the day.
• 32:32
  And I say it all the time, you know and in regards to if your
• 32:35
  government tries to ban Bitcoin, that just goes to show exactly
• 32:38
  why you need Bitcoin. And now we have a real time
• 32:40
  example of this happening and people understanding that you
• 32:43
  can't kill the honey badger. So awesome.
• 32:46
  You know, 11, quick, last thing on this, I mentioned this to you
• 32:49
  guys before the show, but we were sitting with like a
• 32:52
  delegation from the Hong Kong government, a couple of
• 32:55
  academics from local universities.
• 32:58
  And they were talking to us about like how Hong Kong is
• 33:02
  opening up for Web Three and Web Three this and Web Three that.
• 33:05
  And David, who I was with, asked them point blank, he was like,
• 33:10
  why do you guys talk about Web Three?
• 33:11
  Why don't like no one has said the word Bitcoin yet?
• 33:13
  Why don't you talk about Bitcoin?
• 33:15
  And in this, you know, unique sense of just like truthfulness
• 33:19
  that came out of nowhere, one of the people from the delegation
• 33:22
  said. We don't talk about what we hide
• 33:24
  under our mattress. So I tell you.
• 33:28
  That these bitcoiners over there are of a different breed, man.
• 33:31
  They are true rebels, and I'm bullish on them.
• 33:34
  I'm bullish on them. Dude.
• 33:36
  I love you. That is, that is so.
• 33:38
  That is so. That is so freaking epic.
• 33:40
  Anyways, all right guys, so let's let's talk about the Gary
• 33:43
  Gunzer stuff. Obviously pressure is mounting
• 33:47
  Once again another large asset manager, $1.5 trillion assets
• 33:52
  under management has filed for for.
• 33:56
  Also they want to launch a spot Bitcoin ETF.
• 33:59
  So like, you know, you have Fidelity, you have BlackRock,
• 34:05
  you have now you have Franklin Templeton, not to mention all
• 34:09
  the countless others. You know, that's a tremendous
• 34:12
  amount of pressure building. And the big question is, is
• 34:18
  this, has it not been approved for political reasons?
• 34:23
  The reason I'm saying this is something that we've covered on
• 34:25
  the show for many, many months now.
• 34:28
  This was the article that Nick Carter put together, you know,
• 34:32
  that I think coined the phrase operation choke point 2.0.
• 34:36
  And what he was referencing is basically the US government's
• 34:40
  attempt or suppose it attempts, better said to isolate the
• 34:43
  industry from the traditional financial system.
• 34:46
  Right. And he he presented a lot of
• 34:49
  examples right. The the most recent is the
• 34:53
  Senator Elizabeth Warren bill that that is actually
• 34:57
  bipartisan. She got Senator Lindsey Graham
• 35:02
  to to cosponsor the bill and she got a bunch of other, I think it
• 35:06
  was nine others Democratic senators to jump on the bill as
• 35:10
  well. Now the probability that it will
• 35:11
  pass is low, just to be clear. But in that bill Pierre Rashard
• 35:16
  literally said if this bill passes it will kill Bitcoin
• 35:19
  mining in the in the US and it would also K wise it would force
• 35:24
  KYC on software on wallet providers.
• 35:28
  So whether it's software wallet or hardware wallet, the bill is
• 35:33
  basically structured in a way where like it it's meant to kill
• 35:36
  the industry without you know a total, you know China like you
• 35:41
  know top down ban so to speak, you know, but it's, it's, it's
• 35:46
  essentially a de facto ban, right.
• 35:48
  And of course, like I mentioned in the beginning of the show,
• 35:50
  right, you had the the federal banking charter denied for
• 35:54
  Caitlin Long's bank in Wyoming and you know and and Nick Carter
• 35:59
  and in a bunch of these, you know, it lays out a bunch of
• 36:02
  other examples Right now also there is a, there's a report
• 36:06
  that was released by the US Treasury called The Future of
• 36:08
  Money and Payments. And in that report literally
• 36:11
  called the Future of Money and payments.
• 36:13
  They talk about payment platforms, they talk about
• 36:15
  stable coins and they talk about Cbdc's.
• 36:18
  They barely mentioned Bitcoin. And if they do mention Bitcoin,
• 36:21
  it's like they they mention it in a negative light, right?
• 36:25
  I mean, it makes sense, right? Obviously, governments benefit
• 36:27
  tremendously from being able to create money for free that
• 36:31
  everyone else has to work for. Obviously, you can make the case
• 36:34
  that they would want to maintain that privilege.
• 36:37
  And that goes to, you know why we have made the case as to why?
• 36:42
  You know, this spot Bitcoin ETF being delayed could be
• 36:46
  politically motivated. Here's Tom Emmer.
• 36:49
  He is the GOP Majority Whip and let's see what he has to say.
• 36:53
  This was a press conference before the Financial Committee
• 36:58
  where they they interviewed or they had a conversation with
• 37:02
  Gary Genzer, who's the head of the SEC.
• 37:04
  Let's let's check out what Tom Emmer has to say.
• 37:08
  Thank you. I identify with both the
• 37:11
  conference chairs remarks and Michael Clouds remarks, but for
• 37:15
  me it's a big day in Congress for more reasons than what we've
• 37:19
  talked about so far today. SEC Chair Gary Gensler is going
• 37:22
  to testify before the House Financial Services Committee,
• 37:25
  and boy does he have a lot to answer for Under Gary Gensler's
• 37:28
  leadership. I would say failed leadership.
• 37:30
  The SEC has been an incompetent cop on the beat throughout his
• 37:33
  career. Gensler has been relentlessly
• 37:35
  loyal to the biggest institutions at the expense of
• 37:37
  every day. Today, he's going to face some
• 37:40
  important questions about that. Gary Gensler has worked to
• 37:42
  consolidate his own power, even though it means crushing
• 37:45
  opportunities and frankly, the financial future of this
• 37:47
  country. This strategy hasn't been
• 37:49
  successful for him. As you note, the SEC continues
• 37:52
  to lose again and again in the courts on its crusade against
• 37:56
  digital asset in innovation. So it should be increasingly
• 38:00
  obvious that the crypto industry is not an industry rife with non
• 38:04
  compliance. Rogue bureaucrats like Gary
• 38:06
  Gensler are supposed to be working for the people, not
• 38:09
  raining over them. I, for one, would like to see
• 38:11
  the SEC return to its mission and make sure that they protect
• 38:14
  opportunities for every American who wants to participate in the
• 38:17
  greatest capital markets in the world.
• 38:19
  Digital asset innovation is an important part of that.
• 38:22
  Despite what Gary Gensler thinks, he is not a government
• 38:24
  of one. He is a bureaucrat who answers
• 38:26
  to Congress, and I look forward to having him before our
• 38:28
  committee today. And now I turn it over to our
• 38:31
  beloved leader, the toughest man in Congress, Steve Solis.
• 38:36
  So I mean like that was that was some some very, very strong
• 38:42
  words to say the least. And here is Gary Genzer getting
• 38:47
  absolutely grilled. Here is one of the one of the
• 38:50
  questions that he has asked. Here's Isabella, I think she's
• 38:53
  part. She's with you guys at Bitcoin
• 38:54
  Magazine and let's, let's hear what he has to say when he was
• 38:59
  asked is Bitcoin a security or commodity?
• 39:03
  I would say it's not a security and then the test is.
• 39:06
  Otherwise for other laws, I would say it's anyways I have
• 39:11
  some more clips for you guys. This is a very, very strong one.
• 39:14
  Once again, here is a US US congressman asking, Gary, Genzer
• 39:22
  said, saying some very, very strong statements.
• 39:25
  Boy, Warren Davidson introduces a major questions doctrine, and
• 39:29
  you told Mr. Barr that you received tons of feedback on
• 39:32
  your proposed ESG disclosure rules.
• 39:34
  Feedback that should make clear that the proposal for ESG
• 39:39
  disclosure. Is A and it should make clear
• 39:42
  that you don't have the legal authority to do that.
• 39:46
  So I'd ask you to knock it off. Cease and desist and work with
• 39:49
  this body to pass a law if you want to regulate something you
• 39:52
  know. Frankly, your time as chairman
• 39:54
  has highlighted 2 problems, a Gary Gensler problem and a
• 39:58
  structural flaw in the SEC. And as I told you in April, I
• 40:02
  proposed a solution called the SEC Stabilization Act.
• 40:06
  You're you're making the case for this bill easier every day.
• 40:10
  You are acting as the Chairman by doing rule making after rule
• 40:14
  making without any regard to the impact of these rules or maybe
• 40:18
  that's the feature for you, I don't know.
• 40:21
  But it's having a massive impact on our markets.
• 40:24
  I mean we have markets that truly are the envy of the world
• 40:27
  and why would you disrupt them, you know with with processes
• 40:31
  that are driving capital out of our markets, not because to
• 40:35
  avoid our laws, but to find some place where they can get
• 40:37
  clarity, where they can work with a regulator and get a
• 40:40
  decision in a path forward. So instead of selectively
• 40:45
  applied you, you are shortened. You're not providing clarity
• 40:49
  with a rule that's evenly applied.
• 40:51
  You're intentionally shortened comment periods to limit
• 40:54
  feedback and the courts have even called this arbitrary and
• 40:57
  capricious. You're pushing a a woke
• 41:00
  political. And social agenda and I think
• 41:02
  abusing your role in the authority of the SEC as cover.
• 41:07
  So you know, I think fundamentally the SE
• 41:12
  Stabilization Act would remove the role of chairman.
• 41:16
  It would preserve the current commissioners, but it would add
• 41:20
  a 6th commissioner. So there would be no more than
• 41:24
  three from any one political party.
• 41:26
  And so that would provide a path that would.
• 41:29
  Make the SEC do what you're avoiding, frankly.
• 41:32
  You're front running Congress. You're front running the courts,
• 41:35
  your front running even the own administration.
• 41:38
  And no one has held you to account for that.
• 41:40
  I mean, I wish the Bite administration would say you're
• 41:42
  fired, but they're the list of folks they need to do that for
• 41:46
  is long Congress hopefully will with the SEC Stabilization Act.
• 41:51
  I yield. So much time.
• 41:52
  Six. That is heat.
• 41:53
  Hot fire coming in. Poor Gary yesterday.
• 41:58
  I'm gonna pay the guys this last clip.
• 42:01
  And again, you know, just more grilling.
• 42:04
  Let's check it out. This is from Tom Emmer himself.
• 42:07
  Do you believe the vast majority of digital assets meet the
• 42:10
  investment contract test and are there for securities operating
• 42:13
  illegally outside of the US regulatory umbrella?
• 42:16
  As I've said, many of these assets are basically the public
• 42:18
  is anticipating service that yes on the efforts of others is the
• 42:21
  answer then yes, again without prejudging anyone.
• 42:24
  I do think that the significant, I'll take it and to be clear,
• 42:28
  Sir. This perspective has nothing to
• 42:30
  do with the concern you noted in the speech last year where you
• 42:33
  said quote. Over the past year, several bank
• 42:35
  executives have shared their concerns with me about the sheer
• 42:37
  number of depositors who have moved money from their bank
• 42:39
  accounts into crypto related exchanges and wallets.
• 42:42
  End Quote right. The concern that those bank
• 42:45
  executives raised was that again, I've asked you to answer
• 42:49
  the questions as short as I can so I can use the time I have and
• 42:52
  it's clear that you would like to avoid answering the
• 42:54
  questions. In my opinion.
• 42:55
  And Obama appointed judge in the Southern District of New York, a
• 42:58
  bank friendly jurisdiction where you bring most of your cases,
• 43:01
  recently found that decentralized financial
• 43:03
  technology quote, not only removes the socalled middle men
• 43:06
  from these transactions, but it also allows users to interact
• 43:08
  through a variety of methods in an easy and efficient manner.
• 43:11
  End Quote. The court also said underwriters
• 43:13
  like the ones at banks where you work, Sir, are quote precisely,
• 43:16
  precisely the types of individual roles that
• 43:18
  decentralizes exchanges were designed to eliminate.
• 43:20
  And quote Mr. Gensler, can you assure this committee that your
• 43:23
  style of regulation by harassment towards digital asset
• 43:25
  innovation is the benefit of every American and not driven by
• 43:28
  your desires to protect industry incumbents?
• 43:31
  This is a field that's right with fraud manipulation, and I'm
• 43:33
  I'm looking out for the American investors who've been hurt by
• 43:35
  the crypto Gensler, despite your years of rhetoric.
• 43:40
  Like today, I'm convinced you are not an impartial regulator.
• 43:43
  Instead, it's clear that you are working to consolidate your own
• 43:45
  power, even though it and frankly, the financial future of
• 43:49
  this country. Even the federal courts are
• 43:51
  highlighting the damage you, Sir, are doing to our
• 43:54
  constituents. And they're telling you that you
• 43:56
  don't have legal authority to accomplish your goal of
• 43:58
  squashing competition in the financial markets.
• 44:01
  Congress has been telling you that, too.
• 44:03
  Now, Mr. Gensler, I believe our great financial system is the
• 44:06
  definition of freedom in this country.
• 44:08
  And congressional policies must provide room for the traditional
• 44:10
  financial system to evolve alongside the disruptive digital
• 44:14
  asset ecosystem. That said, it cannot be
• 44:16
  understated that a common theme throughout your career, Sir, is
• 44:19
  your relentless loyalty to the largest financial institutions
• 44:22
  at the clear expense of innovation, competition and
• 44:25
  everyday Americans. I yield back, I said.
• 44:28
  Expect some large financial institutions.
• 44:30
  I may not agree with that. There's no question now, Sir,
• 44:32
  I've yield. Oh man, oh man, that that was
• 44:37
  that was absolutely brutal. Someone said bread and circuses.
• 44:40
  I completely agree. But they said something very
• 44:42
  interesting, which was bank executives said that they were
• 44:46
  concerned people are withdrawing and I want you guys to connect
• 44:49
  the dots with the Chase news that came out earlier on this
• 44:52
  week. Where Chase literally said that
• 44:55
  we were gonna stop people from purchasing or transacting in
• 45:02
  crypto assets and digital assets in Bitcoin in the United Kingdom
• 45:06
  and just kind of connect the dots with what Gary Genzler was
• 45:10
  saying. Because it's true.
• 45:11
  Look, I could speak for myself like.
• 45:14
  I try to have as little money in a bank as humanly possible to
• 45:18
  operate my businesses and my personal checking like again,
• 45:22
  like I'm I have money there to just, you know, live and
• 45:26
  whatever. But I feel better with my wealth
• 45:30
  in Bitcoin. I like the sovereignty that it
• 45:32
  provides and I think that as as time progresses.
• 45:36
  More and more people are going to become like me once they
• 45:39
  realize the benefits of Bitcoin, the benefits of a sound money.
• 45:42
  Now another thing that kind of like bums me out a little bit
• 45:46
  is, you know, you could tell how badly crypto has been used as
• 45:53
  air cover for justification for a lot of the actions made by the
• 45:59
  SCC. Like crypto has given the
• 46:02
  industry because a lot of people see the crypto industry in the
• 46:05
  Bitcoin industry as one. And it's given the industry a
• 46:08
  bad name, right? Like all the fraud, all the
• 46:11
  stuff. It's like look at all the stuff
• 46:12
  that's happening. It's like, yeah, that was a
• 46:14
  crypto exchange. That was FTX.
• 46:16
  Like that was people, you know, selling a, you know, offering
• 46:21
  yield, right. It had nothing to do with like
• 46:23
  buy Bitcoin, take that Bitcoin into self custody.
• 46:26
  You know, forget about. It had nothing to do with that.
• 46:28
  But they commingled the two and I suspect they're, they're
• 46:31
  using, you know, all the fraud that is actually happening in,
• 46:34
  you know, in the industry as a justification, as a reason as to
• 46:38
  why, you know, oh, we can't allow this to happen.
• 46:41
  We can't have Custodia have a federal banking charter, we
• 46:45
  can't have a spot Bitcoin ETF. Anyways, Brandon, what's your
• 46:48
  take on this? He got absolutely hammered,
• 46:51
  brother. Like you can't deny that.
• 46:53
  Yeah. So you know and I'm seeing some
• 46:56
  of the comments like roll in as well, like you can just totally
• 47:00
  opt out, you know, and ignore US politics and that's fine.
• 47:04
  Like you know, it, it is bread and circus to a large extent.
• 47:08
  Some of the guys we heard from there, you know, Warren
• 47:11
  Davidson, Tom Emmer, Patrick McHenry, they are actually like
• 47:16
  trying to to fight for the the Bitcoin industry.
• 47:21
  You know, it's because there's aligned incentives.
• 47:24
  Don't get me wrong, you know, I think the three of them, all all
• 47:28
  three are like publicly disclosing they own Bitcoin,
• 47:31
  right. And they see the opportunity of
• 47:34
  being pro Bitcoin and what that means for you know their pockets
• 47:38
  right on their reelection. But you know in the end like
• 47:43
  they're going to actually fight for for the Bitcoin industry in
• 47:46
  in DC and and you know that's worth something, right?
• 47:49
  I think if you look at kind of how the conversations are going,
• 47:52
  of course, like really screwed the entire industry in the US
• 47:59
  and Bitcoin just got caught all the strays with it.
• 48:02
  And so this is something that's gonna play out across months,
• 48:06
  years, etc. My, my take on Gary Gensler
• 48:11
  specifically is that I see him as just kind of in the orbit of
• 48:16
  Elizabeth Warren. And I think that Elizabeth
• 48:19
  Warren is ultimately calling a lot of the shots here.
• 48:22
  I think that he probably sees his future political career
• 48:28
  riding her coattails, and that's disappointing because, you know,
• 48:32
  there was a world in which she could have been an advocate for
• 48:35
  Bitcoin. You know her, her ability to be
• 48:40
  relevant stemmed from the 08 financial crisis, just like
• 48:44
  bitcoins did. Her belief that the banks were
• 48:47
  predatory on everyday people is the same beliefs that drove
• 48:51
  myself and and many people to Bitcoin in the 1st place.
• 48:55
  But ultimately, you know, this is my personal belief, but I
• 48:59
  think that is as a regulator and as a lawmaker coming out of 08,
• 49:04
  I think she made a deal with the devil.
• 49:05
  I think that she probably as the, the new kind of preeminent
• 49:09
  regulator of banking in the US probably made a deal with the
• 49:14
  bankers to say, look, I'm going to regulate you guys, but I'll
• 49:17
  make sure that you don't get replaced and I'll make sure that
• 49:20
  you never, you know, get supplanted and and I'll protect
• 49:24
  you as long as, you know, you guys accept my regulations.
• 49:27
  And so I think that this is really a banking sector in
• 49:33
  combination with you know, the Democratic wing of the the
• 49:37
  government using Gary Gensler as their political kind of pawn in
• 49:42
  the SEC to curtail the industry in the US And so you know it's
• 49:47
  it's like it's pretty clear to me and you know, it's
• 49:50
  disappointing, it's disappointing.
• 49:51
  So I will say, you know, I saw a lot of comments talking about
• 49:55
  how everyone's ultimately in black rock's pocket and that's
• 49:58
  true too. And so, you know, that's kind of
• 50:00
  the, the thing that's waiting in the wings, the Black Swan
• 50:05
  waiting to happen is once again aligned incentives are going to
• 50:09
  rule the day here. And BlackRock is sitting there
• 50:12
  waiting for their Bitcoin ETF approval.
• 50:15
  And you know, they have every incentive now for for Bitcoin to
• 50:20
  get an ETF. And I'm sure they're going to be
• 50:22
  pushing very soon to make sure that happens.
• 50:24
  And so, you know, I think the the situation in the equations
• 50:28
  going to turn around very quickly.
• 50:31
  I can pause there. We can talk more about, you
• 50:32
  know, Bitcoin ETF's broadly. Yeah, man.
• 50:36
  And that that's. I love that insight and I
• 50:39
  completely agree that that, you know, it's a it's it's
• 50:43
  unfortunate. It's unfortunate.
• 50:45
  I do agree that she, you know, she potentially made a deal with
• 50:48
  the devil and she was the biggest, she was one of the
• 50:51
  advocates, right. Like, I remember that.
• 50:53
  Like the whole, you know, the whole.
• 50:56
  I forget what the name of the movement was.
• 50:59
  Occupy Wall Street. Occupy Wall.
• 51:01
  Street you know she was she was she was a she was a part of a
• 51:04
  lot of that. Right.
• 51:06
  But here now that we have this issue.
• 51:08
  I mean sorry this solution right.
• 51:10
  It's just interesting that how how hell bent.
• 51:14
  She is to fight it. It's like she teamed up with the
• 51:17
  people that she supposedly was fighting against, you know, so,
• 51:21
  but I think overtime all of that will get exposed.
• 51:23
  Opti, what's your take before we get on to the culture?
• 51:26
  Well, first you're talking about Elizabeth Warren.
• 51:29
  And I just instantly popped in my head.
• 51:30
  Like, politicians don't want solutions, Nico.
• 51:32
  They just want to talk about problems so they can get more
• 51:35
  money. Come on, bro, you know the
• 51:36
  playbook. And to the initial question of
• 51:39
  whether, I think Gary Gensler. Approving a spot Bitcoin ETF or
• 51:43
  rather not approving one is political.
• 51:46
  I would obviously just double down and say it's very obviously
• 51:50
  political. I think it's becoming very clear
• 51:53
  and and Brandon touched on it as well, that Gary Gensler is
• 51:56
  basically a big bank shill. He's playing cover for the banks
• 51:59
  and I think it's becoming very obvious that this is the case.
• 52:02
  And then of course to the other point, you know.
• 52:05
  If we do get a new president, then it's most likely like Gary
• 52:08
  Ganther's going to be out in his position at SEC.
• 52:11
  And so he probably is thinking about his political career and
• 52:15
  where he's headed after that. So you got to remember that all
• 52:18
  these things are intertwined and This is why nothing ever gets
• 52:21
  done in politics because they're thinking for their career,
• 52:24
  political moves and what goes on afterwards and who's going to be
• 52:27
  paying these paychecks. So you can't convince me
• 52:29
  otherwise that this isn't political.
• 52:32
  But then of course, as Terence has been covering on.
• 52:35
  For a long time we also have to remember all the crazy stuff
• 52:38
  going on with finance, and so all this stuff combined is most
• 52:42
  likely why we aren't going to see anything happen by the end
• 52:45
  of this year, even though we try to stay as bullish as possible.
• 52:48
  But it it's going to be very interesting moving to next year
• 52:52
  and seeing when these spot Bitcoin ETF's do get approved.
• 52:56
  But you know, for everyone in the audience, just the average
• 52:59
  bitcoiner that probably is already completely outside of
• 53:02
  the system and all in has a total net worth in.
• 53:06
  You know, thank you very much Gary Gensler and friends for
• 53:08
  keeping the Bitcoin so price are so low so that we can just
• 53:11
  continue to stack. And again guys, need I remind
• 53:14
  you what the playbook is? We see this happen all the time.
• 53:18
  You fly the Bitcoin, you slow roll Bitcoin, you stack your
• 53:21
  bags. Once your bags are stacked, you
• 53:24
  embrace Bitcoin and the price starts running.
• 53:26
  So I am sure that this is the playbook that we're seeing on
• 53:29
  the back end and then of course you know.
• 53:32
  As as just a bitcoiner that that came to Bitcoin because he was
• 53:36
  so turned off by politics in general and basically was a
• 53:39
  political you know, this does seem like political theater
• 53:43
  obviously, but I don't know man, the more the closer I watched
• 53:47
  some of this stuff. The more it seems like there
• 53:50
  still is a few politicians out there that that are trying to do
• 53:53
  good and still abide by the oath that they took to get into
• 53:56
  office. And like Brandon said, you know
• 53:58
  they are incentive driven. And if they hold Bitcoin, then
• 54:01
  they understand that if you fight Bitcoin, that's literally
• 54:03
  antiamerican. Like you can't convince me
• 54:05
  otherwise. Bitcoin is freedom, money.
• 54:07
  I thought this was a country based on freedom and all the
• 54:10
  politicians are bought and sold like what is going on here?
• 54:13
  This is not the world we were sold or not the country we were
• 54:16
  sold when we grew up. And yet it seems.
• 54:19
  Like everyone is just ignoring the elephant in the room and no
• 54:24
  one wants to talk about where their paychecks are coming.
• 54:26
  Let's not forget about the fact that Nancy Pelosi is the
• 54:28
  greatest trader of our generation and that she came
• 54:31
  into office with like $100,000 salary and now she's a multi
• 54:34
  multi. Millionaire like, where's this
• 54:37
  money coming from? Guys, we know where it's coming
• 54:39
  from. It's from the lobbying groups
• 54:41
  like it. It's no coincidence that these
• 54:44
  career politicians are getting paid on the back end and then
• 54:47
  they support their friends in those companies.
• 54:49
  Like, it's just simple incentives.
• 54:51
  And we say it all the time. It's either the Fiat incentives
• 54:54
  are broken or it's designed this way.
• 54:55
  Now, either way, let's turn the fucking table over and start
• 54:58
  stacking set like there's a better solution in sickoid.
• 55:01
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• 55:02
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• 55:05
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  on to the culture. We're going to talk about
• 55:51
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• 56:24
  All right, Opti, what are we talking about?
• 56:25
  Love it, love it. Well guys, as you know, Brandon
• 56:28
  works with Bitcoin Magazine and I am guessing you're going to be
• 56:31
  in Amsterdam. And what's it?
• 56:32
  Oh, two weeks. So I don't know.
• 56:34
  Let's talk. Yeah, let's talk about Bitcoin
• 56:36
  Amsterdam because we are global. There are people that watch our
• 56:39
  show that aren't just in America and we get yelled about it all
• 56:41
  the time because we always talk about America.
• 56:44
  Why should people go? What?
• 56:45
  What's, what's some maybe some sneak peeks?
• 56:47
  Brandon what What do you got going on over there in
• 56:49
  Amsterdam? Yeah, so, you know, we got a
• 56:52
  great lineup of speakers this year.
• 56:54
  Ed Snowden's going to be speaking, Stella Asan just going
• 56:58
  to be speaking as well. Maybe a Snowden, Assange, Wambo
• 57:02
  combo combo could be coming up, which would be pretty awesome.
• 57:06
  You know, two of the great kind of martyrs for freedom and
• 57:11
  privacy kind of in the world outside of that, you know the
• 57:15
  the the European Bitcoin community is amazing, right?
• 57:18
  Like very tech driven, very focused on kind of what Bitcoin
• 57:24
  offers you personally for. You know, your privacy, your
• 57:28
  freedom, your ability to opt out of the system.
• 57:32
  And it's a, it's kind of a great juxtaposition for you know what
• 57:36
  really is a broad reaching government that that they kind
• 57:42
  of live under, right? Like, you know, the bitcoiners
• 57:44
  are the ones who are who are trying to opt out of whether
• 57:48
  it's, you know, new Mika laws that require you to disclose
• 57:53
  basically your entire net worth every time you cross a border,
• 57:56
  right. Like having to look into every
• 57:59
  transaction that you send making sure that everything is taxed
• 58:03
  properly. I mean, it's it's a it's a
• 58:07
  draconian financial system that's becoming more and more
• 58:10
  overbearing. And you know, Bitcoin just
• 58:13
  stands as this stark contrast to it, right?
• 58:16
  It's just it's the way out. And so, you know, Europeans love
• 58:21
  Bitcoin for that reason. And you know, it's it's a fun,
• 58:25
  fun crowd too. You know, a lot of these people
• 58:27
  have been in for six, 7-8, ten years.
• 58:31
  You know, they've been around the block, they've seen this
• 58:33
  thing go through a few cycles and they have like a level of
• 58:37
  expertise and real enjoyment of it that maybe some of the people
• 58:43
  who are newer to Bitcoin, they're still feeling the waves
• 58:46
  of the roller coaster, they're still feeling the ups and downs,
• 58:48
  right? And really in Amsterdam it's
• 58:51
  just good vibes. So yeah, we'd love to see
• 58:54
  everyone there and I'm super excited to be there in just a
• 58:57
  couple weeks. I'm pretty sure also guys, that
• 59:00
  our promo works simply and you'll get a discount for
• 59:04
  Bitcoin Amsterdam tickets. I'm pretty sure that's the case,
• 59:08
  but I haven't gone yet. I'm definitely going to make the
• 59:11
  journey. So many conferences in the US
• 59:13
  this year, I'm bouncing left and right, but I definitely, I have
• 59:17
  to make the trek. I have to make the trek because
• 59:19
  I've heard so many good things about Bitcoin Amsterdam.
• 59:22
  Let's talk a little bit about the venue, because the venue is
• 59:25
  absolutely epic, right. Yeah, it's a converted natural
• 59:30
  gas Dome. So it was like originally the
• 59:33
  place where the entire city of Amsterdam was powered.
• 59:38
  You can kind of see that giant circle there.
• 59:40
  So that roof actually used to expand.
• 59:43
  It would just blow up like a balloon with natural gas every
• 59:46
  night and then, you know, condense down as it's used
• 59:50
  overnight and and, you know, during the day.
• 59:51
  So yeah, And it's beautiful. There's kind of like an indoor,
• 59:56
  outdoor, little bit of a festival vibe that we got going
• 59:59
  on. And I mean, it's Amsterdam, too,
• 1:00:02
  right? Like, Amsterdam's a really fun
• 1:00:03
  city. You go out, you get drinks, you,
• 1:00:06
  you know, partake in whatever sort of festivities you'd like
• 1:00:08
  to partake in. And you're, you're with kind of
• 1:00:12
  your people, right? You're with the bitcoiners.
• 1:00:13
  So it's, it's a great, great time.
• 1:00:18
  Yeah, I love it. That's awesome, dude.
• 1:00:20
  And another thing, right? So it's not only you guys are If
• 1:00:25
  my memory serves me correctly, you guys also announced Bitcoin
• 1:00:29
  Asia as well, right? Yeah.
• 1:00:32
  So something we're cooking up probably down the line here is
• 1:00:36
  doing an Asia event maybe in Hong Kong, we'll see.
• 1:00:40
  But on the backs of us kind of going over there, it's clear
• 1:00:43
  that. Bitcoin's global.
• 1:00:46
  Your, your point about, you know, your audience is global.
• 1:00:48
  Bitcoin's global, right. So you know, being based in the
• 1:00:51
  US, we have limited perspective, but we also have limited reach.
• 1:00:54
  And in order to, you know, accomplish our goal of hyper
• 1:00:57
  bitcoinization, which means every person in the world, every
• 1:01:01
  institution, every government, every person using Bitcoin in
• 1:01:04
  their daily lives. In order to make that happen,
• 1:01:07
  you gotta be where everyone is and that's everywhere.
• 1:01:10
  So. You know, our goal is to
• 1:01:12
  continue to to grow what we're doing on the event side and
• 1:01:15
  reach more people and and keep spreading the word of this
• 1:01:17
  Bitcoin to everyone in the world.
• 1:01:20
  So, you know, we're talking to folks in South America, we're
• 1:01:23
  talking to folks in Central America, we're talking to folks
• 1:01:25
  in Asia and Africa, in the Middle East and Europe.
• 1:01:30
  We we want everywhere to be. We want to paint it orange and
• 1:01:34
  so. You know we're, we're young,
• 1:01:36
  we're small. We're trying to figure out how
• 1:01:38
  to continue to to do that and and to build and grow.
• 1:01:41
  So Asia is definitely going to come soon.
• 1:01:46
  But you know most importantly is, is just being able to reach
• 1:01:50
  the communities and and you know hang out together.
• 1:01:53
  You know Bitcoin's digital Bitcoin is is kind of remote.
• 1:01:55
  You're online. You maybe don't even know the
• 1:01:57
  people you're talking to, meeting them in person, being
• 1:02:00
  able to grab a beer, being able to just relax and and talk
• 1:02:03
  about. You know, the things that we
• 1:02:06
  find interesting that maybe the rest of the world doesn't like
• 1:02:08
  freedom and like privacy and you know, tech and building, you
• 1:02:14
  know, new things and not asking for permission to do it.
• 1:02:18
  I mean, it's just it's so much fun and it's it's really, it's
• 1:02:22
  why we're all here. So I think it holds a special
• 1:02:26
  place. And you know, it's funny you
• 1:02:28
  mentioned that there's just tons of conferences right now.
• 1:02:30
  There's actually. You know, we've been through
• 1:02:32
  this ringer a little bit, right? The conference cycle is like a
• 1:02:38
  delayed following of of the Bitcoin price cycle, right?
• 1:02:41
  You're usually off by about a year.
• 1:02:42
  So, you know, I'm not surprised that everyone's just inundated
• 1:02:47
  with conferences right now. So you know it is what it is,
• 1:02:50
  but you know, they're they're great.
• 1:02:52
  The reason why there's so many is because everyone enjoys, you
• 1:02:55
  know, just being able to hang out together in person and
• 1:02:57
  nothing can replace that 100%. The, the.
• 1:03:01
  And a lot of people forgive, Forget that, right?
• 1:03:03
  Like, Bitcoin Twitter is not the same as hanging out with
• 1:03:07
  bitcoiners in real life. Actually, me and Opti met for
• 1:03:11
  the first time at a Bitcoin conference and that's really
• 1:03:14
  where our friendship kind of evolved.
• 1:03:16
  And then that one thing led to another and then, you know,
• 1:03:19
  that's like that. That relationship though,
• 1:03:21
  started when I think we shared a room together, bro.
• 1:03:25
  Like, I didn't even know you. I think like we were like on
• 1:03:27
  Bitcoin Kindergarten with Nick can't mine is before he joined
• 1:03:31
  Bitcoin Mag and we were just talking.
• 1:03:33
  I think it was like Surfer gym and Surfer gym was like you guys
• 1:03:36
  should you guys absolutely have to go to a Bitcoin conference
• 1:03:40
  and it. Was like, yo, if I get a room,
• 1:03:44
  get a ticket, and we're sharing it, I'm like, all right, cool,
• 1:03:47
  here we go. Yeah, cuz I didn't want to go
• 1:03:48
  alone. And then it turned out to be, it
• 1:03:51
  turned out to be a great time, right?
• 1:03:53
  So I can't emphasize enough the importance of Bitcoin
• 1:03:57
  conferences. It's like the it's like a great
• 1:04:00
  excuse. Not only is it a great time and
• 1:04:02
  a great atmosphere, but it's a great excuse to hang out with,
• 1:04:08
  you know, your online friends that you never see, right?
• 1:04:10
  It's like you kind of all coalesce, You all come together,
• 1:04:13
  you know, you have drinks, you hang out, you know, get you get
• 1:04:16
  to see some of your favorite bitcoiners, have conversations
• 1:04:19
  with them. Yeah man, I completely agree.
• 1:04:21
  Before we move on to the memes, Brandon, what is the thing that
• 1:04:25
  you're most excited about this year at Bitcoin Amsterdam?
• 1:04:31
  Most excited about at Bitcoin Amsterdam, honestly, like we did
• 1:04:36
  Amsterdam last year and it was in October again and so we were
• 1:04:40
  about two weeks before. Everything blew up, right?
• 1:04:44
  Like, you know, it was, it was still like, you know, the party
• 1:04:48
  was on, it was, you know, a bear market.
• 1:04:50
  But it wasn't that bad. Everyone was like, oh man, this
• 1:04:52
  bear market's not going to be bad at all, right?
• 1:04:54
  Everything blows up. So I think that like what I'm
• 1:04:57
  most excited about is just seeing everyone again and and
• 1:05:00
  being able to like kick back and just like take a breath and you
• 1:05:04
  know I'm, I'm of the opinion that we're in the part of the
• 1:05:06
  cycle right now that I called the extreme apathy face, right.
• 1:05:10
  It's where no one's paying attention and you start building
• 1:05:16
  all of these like small bullish blocks that are going to be like
• 1:05:21
  the real foundation of the next bull market And the people who
• 1:05:24
  are really paying attention to the people who are here.
• 1:05:26
  We see it all happening and we're all like super excited
• 1:05:28
  about it. And then we turn around and like
• 1:05:30
  kind of look out and no one's paying attention.
• 1:05:32
  And so it's like we're in that part of the the, the market
• 1:05:35
  right now. And so it's a fun part, like,
• 1:05:37
  you know, because the people who are paying attention.
• 1:05:40
  You get to just like enjoy some of these these tailwinds and and
• 1:05:46
  so yeah, I just, I love hanging out with the bitcoiners and and
• 1:05:50
  that's what I'm most excited about.
• 1:05:52
  You know, the content's going to be amazing.
• 1:05:53
  We got some great companies that are going to be there, brand new
• 1:05:55
  companies. They're doing really cool things
• 1:05:57
  like, you know, we're just talking to a a solar mining
• 1:05:59
  company that's, you know, using Bitcoin kind of as a a a battery
• 1:06:04
  as you know, some people like to talk about, right, the economic
• 1:06:07
  battery of Bitcoin. I'm not gonna weigh in on that.
• 1:06:10
  But yeah, I mean, people are still innovating, creating new
• 1:06:13
  cool companies and excited to meet them as well and just have
• 1:06:18
  a great time. Absolutely, man, I can't
• 1:06:20
  recommend them enough. Guys, we have a promo.
• 1:06:23
  Use promo simply and you'll get a discount to Bitcoin Amsterdam,
• 1:06:27
  pretty sure. And definitely you'll get a
• 1:06:29
  discount to the Bitcoin conference That's gonna be
• 1:06:32
  happening in Nashville, TN the year of the having Opti and I
• 1:06:35
  will be there. It's gonna be a great time.
• 1:06:37
  And yeah, I can't. I can't emphasize enough how fun
• 1:06:40
  Bitcoin conferences are. Whether you're trying to get a
• 1:06:42
  job in the industry, you're trying to hang out with your
• 1:06:44
  Bitcoin friends, or you're trying to see some of your
• 1:06:47
  favorite bitcoiners in real life in the flesh, the Bitcoin
• 1:06:50
  conference is definitely the place to.
• 1:06:52
  Be wait, wait, Nico, before we go to memes, guys.
• 1:06:55
  If you haven't been to 1 yet, you need to go to 1 because if
• 1:06:58
  you're still the crazy bitcoiner in your community, like you need
• 1:07:01
  to experimenting or mental people that are like minded.
• 1:07:06
  Yeah, like, oh, I'm not crazy, OK?
• 1:07:08
  There's other people like me. Absolutely, dude.
• 1:07:10
  It's a really good point, actually, and something that I
• 1:07:13
  probably like, have kind of lost perspective on.
• 1:07:15
  But dude, there are people who are sitting in this bear market
• 1:07:18
  right now who, like, need. To talk about what's going on.
• 1:07:24
  And a lot of people aren't used to seeing their net worth
• 1:07:29
  collapse by 80%. And so you have to be able to
• 1:07:34
  appreciate that it can be tough to ride out a bear market and
• 1:07:41
  sometimes you need to be able to talk to someone who's been there
• 1:07:43
  and might give you the perspective.
• 1:07:46
  Can commiserate with you can remind you why we're all here,
• 1:07:52
  right? Like, we both do Bitcoin all the
• 1:07:55
  time, all day, right. And so sometimes we lose sight
• 1:07:58
  of the fact that it's important to have that connection to it so
• 1:08:03
  that you don't feel like you're just in it alone.
• 1:08:05
  And the crazy person in your town who talks about Bitcoin.
• 1:08:08
  Yeah. 100 percent, 100%, dude. All right guys, let's jump to
• 1:08:12
  the memes. Favorite part of everyone?
• 1:08:14
  Everyone just tunes in for the memes.
• 1:08:16
  They don't care about anything else anyways.
• 1:08:18
  Guys, just jump straight into it.
• 1:08:24
  The Daily Meme Review. All right guys, you know the
• 1:08:32
  deal. This is the meme review where
• 1:08:34
  you wait, do you have the song? Oh yeah, I do.
• 1:08:37
  I do. I have it over here.
• 1:08:38
  I almost forgot. I played it yesterday.
• 1:08:40
  I played it yesterday. OK, OK, OK, OK.
• 1:08:43
  I'm excited. I'm.
• 1:08:44
  Excited yesterday? Yeah, I almost forgot to put it
• 1:08:47
  back up today anyway. Anyway, this is the meme review
• 1:08:49
  where you tag me on Twitter either at simply Bitcoin TV or
• 1:08:52
  actually maybe just tag simply Bitcoin TV and the Optimist
• 1:08:55
  fields One whatever, killed two birds with one stone.
• 1:08:58
  Our Twitter accounts getting kind of crazy, so I might be
• 1:09:01
  missing stuff, but. Don't just tag your favorite
• 1:09:04
  memes memes. You can tag your own memes as
• 1:09:06
  well and then also drop them in our telegram group T dot me so I
• 1:09:10
  simply Bitcoin TV. We have broken 1000 people in
• 1:09:13
  there. It loved to see it.
• 1:09:15
  And we are what's what do we say?
• 1:09:17
  Numbers going up. It's going up.
• 1:09:18
  For numbers going up in the telegram group joint, just join
• 1:09:22
  in there. You know, bro, it's lively AF.
• 1:09:25
  And the Darth Mod Darth Darth Coy to Darth Coy in the Darth
• 1:09:31
  Mod. Yeah, is holding it down.
• 1:09:33
  It's a party in there. Sometimes he hosts like the
• 1:09:36
  Telegram equivalent of Twitter spaces on the weekends.
• 1:09:39
  So it's pretty dope. Just join, join our telegram
• 1:09:42
  group. It's free T dot me slash simply
• 1:09:43
  between TV. Anyways.
• 1:09:45
  You guys already know we are in an information war, so continue
• 1:09:50
  to ridicule the corporate press. Continue to get calls of actions
• 1:09:55
  in your memetic warfare. And of course make sure your
• 1:09:59
  friends and family are having some lols throughout this whole
• 1:10:02
  journey. Tweet to the bullets memes of
• 1:10:04
  the artillery. We are the front lines of the
• 1:10:07
  information war. Anyways, this 1st meme is by the
• 1:10:09
  world of Rusty Shouts Out to World of Rusty.
• 1:10:12
  And you can see here he's quote tweeting, watch her guru and it
• 1:10:14
  goes just in. SEC chair Gary Ginsler says
• 1:10:16
  Bitcoin is not a security, but refuses to say it's a commodity.
• 1:10:20
  And rusty goes the legacy systems, still trying to workout
• 1:10:23
  where Bitcoin fits. And you can see this Bitcoin
• 1:10:25
  hammer playing that one game where you put the different
• 1:10:28
  shapes into the box and they don't know which shape goes into
• 1:10:32
  which hole. We got Currency.
• 1:10:34
  Or is it a stock? Or wait, is it property Or wait,
• 1:10:36
  Is it like bonds or Pokémon cards or credit default swaps or
• 1:10:40
  triple-A credit or derivatives? Wait, is it credit or security
• 1:10:44
  Come out like which one is it? They have no fucking clue, and
• 1:10:46
  they probably won't for a while. And This is why you can.
• 1:10:51
  Get cheap sets. Anyways, this next meme is by
• 1:10:54
  Huddlecat 21 and he goes, Nah and we got a girl here talking
• 1:10:58
  to a Bitcoin and goes, can you just talk like a normal person
• 1:11:02
  And the bitcoiner doesn't know how to talk.
• 1:11:04
  This is what we're saying about the going to the conferences You
• 1:11:07
  you. I only talk in memes now and no
• 1:11:09
  one knows what the hell I'm saying.
• 1:11:10
  And the memes are huddle and by the dip.
• 1:11:13
  Which one are we like people. I'm still like, all right?
• 1:11:16
  Be regarded. What are you talking about?
• 1:11:18
  You're just, you're saying 3 words to me.
• 1:11:20
  What is going on? You're just like, yeah, have fun
• 1:11:21
  staying poor. Anyway, this next one is by
• 1:11:23
  Romolo and he goes as simple as that.
• 1:11:27
  If you want some freedom and you need to buy some Bitcoin and
• 1:11:29
  this is a sign. I don't know where this was.
• 1:11:31
  Maybe it's a protest, maybe this was Occupy Wall Street, who
• 1:11:34
  knows. But this guy gets it.
• 1:11:36
  If you want some freedom, you need to buy some Bitcoin.
• 1:11:39
  This next one is by sneet batter maybe.
• 1:11:41
  Actually, this might be Bitcoin Magazine.
• 1:11:43
  This might be a a Pete Rizzo. Stolen meme and he goes Bitcoin
• 1:11:49
  is the most outstanding mathematical miracle.
• 1:11:51
  It's better than gold. And we have Steve Wozniak quoted
• 1:11:55
  as saying that July 9th, 2022, If you know, you know.
• 1:11:59
  Anyways, this next one is by Visique.
• 1:12:02
  Visique, yes, he goes. Freedom of voice versus freedom
• 1:12:05
  of choice. The freedom to communicate, the
• 1:12:08
  freedom to transact. The decentralized revolution.
• 1:12:11
  Hashtag. Bitcoin I am.
• 1:12:14
  Bill Oops, wrong one. Sorry.
• 1:12:18
  All right. This next one is by Ding Dong
• 1:12:20
  3001. He goes great times ahead.
• 1:12:22
  Don't stop stacking as we get into the bright orange future
• 1:12:27
  and. Rocket.
• 1:12:29
  Ship get on board and this last one is by other Barry BTC say
• 1:12:33
  yeah. Yeah, tell and he goes.
• 1:12:35
  Don't forget the check in on your friends.
• 1:12:37
  And RDBTC over here is quote tweeting.
• 1:12:40
  Guys, you're meaning really hard.
• 1:12:41
  Are you OK? And we have a picture of yellow
• 1:12:43
  here, drinking way too many Red Bulls and still has no energy
• 1:12:47
  and absolutely devastated. This is why you need to get to
• 1:12:51
  conferences so you get revitalized and you realize I am
• 1:12:55
  not the crazy person. I'm actually just ahead of the
• 1:12:59
  curve. Anyways, I see Nico already has
• 1:13:02
  his meme review school. No, that's not my meme.
• 1:13:04
  Oh, oh, he's just petting yellow.
• 1:13:07
  Heavy pending Yellow. What is What is My meme Review
• 1:13:10
  score is what is in Yellow's Bitcoin backpack.
• 1:13:13
  I can get it open, and it's a sticker.
• 1:13:17
  It's a Madex sticker. Boom.
• 1:13:21
  Boom. Wow, yeah.
• 1:13:23
  Did you prepackage that just for today or is it just sitting
• 1:13:25
  there? I think it was just sitting
• 1:13:28
  there. All right, all right.
• 1:13:30
  My meme review score for today is my now retired SM7B
• 1:13:34
  microphone. It was a good run, but I think
• 1:13:38
  we have upgraded to the RE 20. So retired SM7B is.
• 1:13:44
  She's a beauty. I still love this mic, though.
• 1:13:45
  All right, what's your review score?
• 1:13:50
  I think I know how to do this, but so my meme review score is
• 1:13:55
  this clicker that's on my desk because my girlfriend just got
• 1:14:01
  us a standing desk treadmill. The.
• 1:14:06
  Latest torture device just dropped.
• 1:14:08
  And so I'm not gonna lie, I did not just walk a treadmill the
• 1:14:11
  entire time we were talking here.
• 1:14:13
  But that's. How do those things work?
• 1:14:16
  Do you move around a lot? I feel like I wouldn't get
• 1:14:19
  anything done. I don't know.
• 1:14:27
  Awesome. All right, everybody.
• 1:14:29
  So before we get to the meme scores, check out the Simply
• 1:14:34
  Bitcoin Merch. Go scan the QR code on your
• 1:14:36
  screen. It'll take you directly to
• 1:14:37
  simplybitcoin.com, where you can get you can get the latest
• 1:14:41
  Simply Bitcoin merch, the tshirt, or the hoodie, whichever
• 1:14:45
  you prefer. Definitely, definitely check it
• 1:14:47
  out. Get yourself some Simply Bitcoin
• 1:14:50
  merch today. Scan the QR code on your screen
• 1:14:52
  right now. All right, Opti Q the epic
• 1:14:55
  music. All right.
• 1:14:56
  Yeah. But we we don't.
• 1:14:57
  I think we have a delay, a strong delay, because we only
• 1:15:00
  have one here and I don't think we can say that.
• 1:15:02
  Did we? Did we say to drop the meme
• 1:15:05
  scores in the live chat? I.
• 1:15:06
  Feel like they know. I don't think we do, but I feel
• 1:15:08
  like they know by now. Drop the meme scores in the
• 1:15:10
  live. Chat we got, we got a few.
• 1:15:11
  All right. Ready, ready, ready, Shout Daft
• 1:15:24
  is it playing in the background? Is it not playing for you?
• 1:15:28
  That is, it is OK anyway. Can you put?
• 1:15:30
  Can you turn it up? All right, there we go.
• 1:15:34
  All right, the first score, apparently Opti is in the chat.
• 1:15:38
  My score is Bitcoin Mags famous Bitcoiner Pineup edition
• 1:15:42
  including sixty. 9 edition Pinup edition including 69 pics of
• 1:15:47
  Chrissy Brandon. If you don't know, the inside
• 1:15:50
  joke is that Opti dated Christine Lagarde.
• 1:15:53
  Everyday walking with Christ says meme score. 21 of my 63
• 1:15:57
  candles on my Bitcoin is freedom birthday cake.
• 1:16:00
  OKOK all right, Kim Gage. I've taken a short position on
• 1:16:06
  Nico turning into Chewbacca. Congrats on the baby R Thanks
• 1:16:10
  man. I appreciate it.
• 1:16:12
  UT XL. My meme score is my refusal to
• 1:16:14
  drop a meme review score unless specifically prompted to.
• 1:16:18
  OK, well, hold your hand. We'll hold your hand.
• 1:16:20
  OK. OK.
• 1:16:23
  OK. What is what are we Are we are
• 1:16:31
  we buzzing it? Oh, we got one more.
• 1:16:33
  One more, One more. Oh, we got two more.
• 1:16:35
  Two. Sorry.
• 1:16:36
  OK, me. There's a one.
• 1:16:38
  There's a There's a crap ton of a delay.
• 1:16:40
  Delay 1 Pocahontas, OK and the last one by Jose S bam.
• 1:16:47
  My score is 20 Social credit score and the last one every day
• 1:16:53
  walking with Christ Opti, a meme score.
• 1:16:56
  Opti singing Happy Birthday. Happy birthday to you stop.
• 1:17:04
  All right, guys, have you enjoyed the show?
• 1:17:06
  Thank you so much for tuning in today.
• 1:17:08
  Our audience from Rumble, we appreciate you guys.
• 1:17:10
  Audience from YouTube, audience from Twitter and of course,
• 1:17:12
  podcast listeners, we appreciate you all.
• 1:17:15
  I want to thank our very special guest, Brandon, thank you so
• 1:17:17
  much for joining us on the show today.
• 1:17:19
  Really appreciate it. Why don't you tell everybody
• 1:17:21
  where they can find you on the interwebs?
• 1:17:24
  Yeah, I exist. You can just check me out at
• 1:17:27
  Bitcoin Magazine, of course, but also the Bitcoin Conference and
• 1:17:31
  at Brand BTC on Twitter. That's me.
• 1:17:35
  Thank you so much for joining us today, bro.
• 1:17:37
  We really, really appreciate it. All right guys, if you enjoyed
• 1:17:39
  the show, you know what to do. Smash that like button.
• 1:17:41
  Consider subscribing if you feel like we provided you value.
• 1:17:44
  But the number one thing you could do to push the peaceful
• 1:17:47
  Bitcoin revolution is share this content.
• 1:17:49
  In fact, share all Bitcoin content.
• 1:17:51
  Don't be exclusive, Be inclusive, Don't share.
• 1:17:54
  Share coin content. That's counterproductive.
• 1:17:56
  We love you all. If you want to join the after
• 1:17:58
  party, we're holding down a Twitter Spaces with our friends
• 1:18:01
  over at Swan Bitcoin. Best place to build your Bitcoin
• 1:18:04
  stack and we'll be holding that down until 2:00 PM Eastern
• 1:18:06
  Standard Time. So if you want to join the after
• 1:18:09
  party and Brandon, potentially you might join us.
• 1:18:11
  Definitely TuneIn to Twitter Spaces.
• 1:18:13
  Opti's gonna be holding it down until then, guys.
• 1:18:16
  Love you all. We'll see you tomorrow for
• 1:18:17
  another episode of Simply Bitcoin Live.