Latest / Simply Bitcoin / Insider Exposes Why The Globalists Attack On America JUST Failed | EP 1284

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Insider Exposes Why The Globalists Attack On America JUST Failed | EP 1284 · Simply Bitcoin

• 0:00
  An insider at the Fed has just exposed why the globalist attack
• 0:04
  on America completely failed. As America's embracing Bitcoin,
• 0:09
  the globalist centered out of Europe are moving towards
• 0:12
  implementing ACBDC. But what does this all mean for
• 0:16
  Bitcoin? Make sure you pay very close
• 0:18
  attention to every detail in this clip 'cause you don't want
• 0:21
  to miss it. The euro dollar market was born
• 0:24
  in the 1950s and there were some discussion in the 1960s as to
• 0:28
  whether the Fed should try to get some sort of control over
• 0:32
  it. And frankly, they just, it
• 0:35
  sounds like they all just never agreed on whether to get control
• 0:39
  over it. And it was small enough that
• 0:40
  they could just ignore it. And then it just grew, grew,
• 0:42
  grew, grew, grew, grew, grew. And now it's bigger than than
• 0:45
  the onshore U.S. dollar market. So that's the history.
• 0:49
  There are a lot of U.S. dollar transactions that never touch
• 0:53
  U.S. banks and never go through the United States, but they're
• 0:56
  using the the dollar as, as the intermediary currency.
• 1:01
  And so there are a lot of folks who would look at the the world
• 1:05
  today and say we're not on a dollar standard, we're on a euro
• 1:07
  dollar standard because there's more volume in U.S. dollars
• 1:12
  happening outside of the domestic U.S. market.
• 1:14
  And so who controls the euro dollar?
• 1:16
  To your point, it's the City of London.
• 1:18
  And, and that's not a conspiracy theory.
• 1:21
  It's easy to point to why the interest rate on dollars was set
• 1:26
  under what's called Libor, the London interbank offer rate.
• 1:30
  And the panel of Libor setting banks was dominated by London
• 1:35
  banks. It had the London office of JP
• 1:38
  Morgan as the sole representative of the US banking
• 1:42
  market. So who controlled the most
• 1:43
  important interest rate for the US dollar market?
• 1:46
  London. And so therefore London really
• 1:49
  actually controlled the US economy.
• 1:52
  Amazing. Right.
• 1:53
  It was staring us in the face, sitting in plain sight.
• 1:57
  But I, I salute the Fed for bringing that control back onto
• 2:01
  the United States. It, it, there was a multi year
• 2:04
  process to to take Libor down. Some of you might be familiar
• 2:07
  with the Libor pricing scandal there.
• 2:10
  Libor was price fixed and there were big London banks that paid
• 2:16
  big fines and fired their fixed income traders for price fixing
• 2:20
  Libor to try to make it seem like it was more favourable to
• 2:23
  them than it actually was. And So what happened is the
• 2:27
  market migrated to what's called so for the secured overnight
• 2:30
  funding rate that is set in the United States and the security
• 2:35
  it's secured. That's why as that's the
• 2:37
  essence. So for it's, it's secured by
• 2:39
  U.S. Treasuries.
• 2:40
  So it is actually a secured U.S. Treasury borrowing rate.
• 2:44
  Therefore the US actually controls it.
• 2:47
  It's not some, you know, panel of 14 random fixed income
• 2:50
  traders in London and the US didn't have any control over
• 2:53
  them now. And that was an unsecured market
• 2:55
  as well, unsecured rate, therefore more volatile.
• 2:58
  So we've brought it on shore, it's secured and it's set in the
• 3:01
  United States. So the US now doesn't need
• 3:03
  London anymore. That's that's Tom was the one
• 3:07
  who made me realize all that. It was one of those like aha
• 3:09
  moments of wow, you're right. London actually sets the most
• 3:14
  important interest rate that underscores most of the
• 3:17
  financial markets and that was Libor and the last Libor futures
• 3:22
  contract matured March 31st. So we are out, Libor is gone,
• 3:27
  but we've just had the last vestige of it disappear.
• 3:31
  Wow, Europe is cooked. But anyway, I'm not here alone.
• 3:36
  I want to introduce my Co host, Optimus Fields.
• 3:40
  You guys know him, you love him. He's here every day and he's
• 3:43
  helping me be Co host today. And we also have our amazing
• 3:47
  guest, Kent Halliburton. Right?
• 3:50
  Sorry, did I say that right? Yeah, Kent Halliburton, CEO of
• 3:53
  SAS Mining. Welcome to the show, Kent.
• 3:57
  Yeah, thank you for having me. Good to have you on here the
• 4:00
  first time here, Sophie. Thank you, Thank you.
• 4:03
  I'm going through a trial by fire, so bear with me guys.
• 4:08
  Anyway, let's get into the source material of this clip.
• 4:12
  So remember that Christine Lagarde has been wanting to
• 4:17
  implement a CBDC for a very long time now.
• 4:20
  And so Wide Awake Media reported the European Union plans to
• 4:25
  introduce its central bank digital currency, the digital
• 4:28
  euro, in October of this year. Wow, that's very soon.
• 4:31
  Christine Lagarde, Opti's ex-girlfriend, head of the
• 4:35
  European Central Bank, says it is piloted on a fairly large
• 4:40
  scale in China, where it is of use and of service to all
• 4:43
  citizens, but mainly the government.
• 4:46
  Like, let's be so for real. So it is not something that is a
• 4:50
  good that is good for the elite or good for the young or is good
• 4:54
  for some versus others. If it is well done and if it is
• 4:58
  well implemented, it would be of service to all citizens.
• 5:03
  CBD CS not only enable governments and central banks to
• 5:07
  track who spends what, where and when.
• 5:11
  They are programmable, allowing money to be restricted for
• 5:15
  specific uses, the imposition of expiry dates, and the ability to
• 5:20
  limit or free spending based on the user behavior or location.
• 5:24
  Once combined with digital ID, facial recognition, social
• 5:28
  credit scores, and carbon allowances, CBD CS facilitate
• 5:33
  totalitarian control on an unprecedented scale.
• 5:38
  I don't think it was that much of A hyperbole when Nico tweeted
• 5:43
  Bitcoin or slavery. There's a reason he tweets this
• 5:46
  everyday, because it's it's actually coming to a European
• 5:50
  city near you in October. Like I said, Europe is cooked.
• 5:56
  So Opti, what do you have to say about this?
• 5:59
  You know, I, I'm not a macroeconomics expert.
• 6:02
  I'm just a girl. And you're an expert in
• 6:04
  Christine Lagarde. So like what?
• 6:06
  What are your thoughts? Yeah, well, very interesting to
• 6:11
  to just see in general and obviously shouts out to Caitlin
• 6:14
  Long. She is been doing incredible
• 6:17
  work. If you guys aren't familiar with
• 6:18
  Caitlin Long, she tried to get the first fully reserved bank a
• 6:23
  couple of years ago, obviously a first fully reserved Bitcoin
• 6:25
  bank and the Fed literally shut her out.
• 6:27
  They they're like, Yep, this, this is not going to work.
• 6:30
  They attacked her. They stopped this from
• 6:32
  happening. And she's like, look, I am
• 6:34
  literally overqualified for these what you're recommending
• 6:37
  for a normal bank. And they absolutely naked it.
• 6:40
  And she's been on a warpath ever since.
• 6:42
  Obviously a really great bitcoiner.
• 6:44
  She's doing incredible work. And Nico just did an interview
• 6:47
  with her last night and I wasn't, I didn't hear her side
• 6:50
  of the conversation, but he was like, she went hard.
• 6:54
  So that's going to drop soon. I'm sure it's going to be a
• 6:56
  continuation of what this clip was about.
• 6:59
  But anyway, kind of talking about what's going on here.
• 7:01
  So again, the coincidences here are very interesting.
• 7:05
  Of course, one, we've all seen what Trump has been doing with
• 7:10
  Bitcoin and embracing Bitcoin and saying, hey, you know, we're
• 7:14
  going to be the Bitcoin superpower of the world.
• 7:16
  And now we've all seen the very public feud with Jerome Powell.
• 7:20
  But an interesting little wrinkle here is Scott Besson and
• 7:23
  Jerome Powell literally have a lunch every single Monday,
• 7:26
  sometimes at the Treasury, sometimes at the Fed.
• 7:30
  Apparently the Fed has a nicer breakfast because they have
• 7:33
  unlimited money to print and they don't care about money.
• 7:35
  So they have a nice, you know, good breakfast.
• 7:37
  Scott Besson likes the Fed breakfast better.
• 7:40
  So there is a little bit of key fob going on here.
• 7:43
  And if you don't know that term, it's kind of like WWE wrestling.
• 7:47
  You know, there's a heel, there's the hero.
• 7:49
  And it does seem like publicly there's a feud, but privately
• 7:53
  they might be more symbiotic than than most people really
• 7:57
  understand what's going on here. And so as Soph was kind of
• 8:01
  saying, and I was kind of telling you this one, like,
• 8:03
  maybe Jerome Powell isn't the bad guy.
• 8:06
  We we think he is. And also, like, I know Trump's
• 8:09
  in a lot of hot water recently in the especially in the last
• 8:12
  couple of weeks. But it does seem like there
• 8:15
  might be kind of some political, economic kind of behind the
• 8:21
  scenes move happening, as Caitlin Long was saying, to
• 8:24
  separate us from the City of London.
• 8:26
  And if you don't understand or know what what the City of
• 8:29
  London is, the significance of it, they're basically the heart
• 8:32
  of the financial world here. Most of everything, you know,
• 8:34
  comes out of the City of London. And as Tom Malongo has been
• 8:37
  saying for a long time, that's the heart of the globalist World
• 8:40
  Economic Forum Davos crowd. That's the that's the heart of
• 8:44
  the beast here. And so it is very interesting
• 8:48
  that Caitlyn Long did mention Tom Luongo in that clip in
• 8:52
  general. She obviously is like that.
• 8:54
  It was Tom who kind of hit me to this.
• 8:56
  And you guys know, I've been talking about Tom Luongo on the
• 8:58
  show for a while. I think he has been kind of spot
• 9:03
  on here for a while. And it took me a while to kind
• 9:06
  of wrap my head around this. Actually one of my friends, also
• 9:09
  Phil, I forget what, his Twitter name, Phil, a boy named Sue.
• 9:13
  That's what it used to be. He's been a Tom Luongo acolyte.
• 9:17
  He loves Tom Luongo. He's been kind of, I would say a
• 9:20
  little cynical and critical of the trust, the plan MAGA type
• 9:24
  people. And he's like, or rather the
• 9:26
  people that are mad at Trump right now.
• 9:28
  He's like, guys, you don't see what's going on behind the
• 9:31
  scenes. This is actually good for the US
• 9:34
  and I think further would be good for everyone around the
• 9:37
  world because as you know, as Nico's been saying, it's Bitcoin
• 9:40
  or slavery. If literally the heart of the
• 9:42
  beast is getting defunded right now because they can't
• 9:45
  manipulate the interest rates in the US and kind of, you know,
• 9:48
  gain the power of the money printer, have more, more, you
• 9:51
  know, interest payments then they're going to.
• 9:54
  Slowly but surely go. Bankrupt.
• 9:57
  And I've been saying this on the show for a while.
• 9:58
  Everything we're seeing coming out of the European Union right
• 10:01
  now is because their back is against the wall.
• 10:04
  They understand they're losing control.
• 10:06
  And it is very interesting that they their only move here, then
• 10:10
  their knee jerk reaction is hey, we're losing control.
• 10:13
  So what should we do, Sophie? We should get more control and
• 10:16
  we should usher in the CDC. Now.
• 10:19
  You know, as the joke goes, I am an expert in Christine Lagarde,
• 10:22
  apparently, and I think she kind of ratted on herself, like she
• 10:26
  told on herself in that very first statement.
• 10:28
  This isn't just for the elites. Well, if you're like me,
• 10:32
  anything a politician says, you know that the negative is
• 10:35
  literally the positive. So this.
• 10:36
  Is. Just for the elites and
• 10:38
  everything we've been covering here on the show, why we're so
• 10:40
  against CBD CS is because we know what is going to happen.
• 10:44
  Literally they can create it out of thin air.
• 10:46
  It's going to be unrestricted Fiat money.
• 10:49
  They can literally it's programmable.
• 10:51
  You know, they're using the, the terms of the, the shit corners
• 10:54
  now the programmable money, which literally means they can
• 10:56
  cut you off. You know, it's basically a
• 10:58
  social credit score. And it is very interesting that
• 11:00
  she particularly. Regularly.
• 11:02
  Reference China and it's like. You know, China is doing some
• 11:05
  good things. Maybe we should follow.
• 11:06
  And everyone else is like, wait, what?
• 11:08
  Like, no, this is not how it works.
• 11:10
  So those are my takes on that initial kind of conversation.
• 11:14
  But I do want to bring in Tom Luongo takes a little bit.
• 11:16
  He kind of expands on what Caitlin Long was saying here.
• 11:20
  And so we have a tweet here from Doctor Storm Waters and he goes,
• 11:25
  Oh my God, how could anyone have seen this coming?
• 11:28
  Sulfur was pushed through the last months of Trump 1.0.
• 11:31
  It's like they had been planning this since 2016.
• 11:34
  And he's got a screenshot here of wow, I'm I'm blame zero hedge
• 11:39
  and it goes you at the withdrawal.
• 11:40
  ECB warns of dollars shortage. Of course, this was about a
• 11:43
  month ago, May 20, three 3rd, 2025, literally the exact days
• 11:48
  that Caitlin Long was mentioning that sulfur ended.
• 11:50
  And then going further, you can get get a couple of the
• 11:53
  highlights, the euro dollar market and the credit mechanisms
• 11:56
  outside the Federal Reserve's jurisdiction.
• 12:00
  Now while Libor had been dominated by European banks and
• 12:03
  subject to interest rate manipulation so far is based on
• 12:06
  actual secured repo transactions in the US market largely immune
• 12:10
  to manipulation. So as Caitlin Long was
• 12:12
  explaining, we're bringing back the control of the dollar to the
• 12:16
  US. Now, of course, we're not Fiat
• 12:18
  Maxis here, but this has huge geopolitical and economic
• 12:23
  implications here. So if you are taking the heart
• 12:26
  of the beast, if you're taking their main tool, which is of
• 12:28
  course the money printer, or rather more of like a parasitic
• 12:31
  symbiotic relationship with the US, then a lot of the stuff that
• 12:35
  we've been covering here on the show, you can call them the
• 12:37
  globalists, the World Economic Forum, Davos Crowd, the elites,
• 12:41
  whatever you want to call them, it seems like they are losing
• 12:45
  their main power source. And if this is the case, which
• 12:49
  it seemingly is, it is bad news for not only the European
• 12:53
  elites, but for Europeans in general.
• 12:55
  And I've been talking about this for a while.
• 12:56
  If you're in Europe, you probably want some Bitcoin.
• 12:59
  So the United States is deliberately freeing itself from
• 13:02
  the influence of European institutions that had previously
• 13:05
  defended their solvency through interest rates and distorted
• 13:08
  global monetary conditions. Again, we are talking about.
• 13:12
  Dollars here or the euro dollar? You know, the debt based Fiat
• 13:16
  system that we constantly rail against, but when you see
• 13:19
  something like this play out, you know there is some crazy
• 13:23
  geopolitical economic implications happening in real
• 13:27
  time. Now I want to respond or read
• 13:30
  Tom Luongo's response to this and he goes, Sulfur was in pilot
• 13:33
  project starting right after Powell came in at the Fed.
• 13:36
  It was fully phased in over a 4 1/2 year period culminating with
• 13:39
  1/1/2022 where all new debt obligations in the US had to be
• 13:44
  tied to sulfur and not Libor. Again bringing it on shore.
• 13:47
  Yes, the banking interest in the US understood the problem.
• 13:50
  They saw the threat and they laid the foundation for the last
• 13:53
  stage of US independence from colonial Europe.
• 13:55
  So from an American perspective, I'm kind of happy about this.
• 14:00
  This sounds great. Obviously, I'm not the biggest
• 14:02
  fan of the dollar. The dollar is the, you know,
• 14:05
  the, the shiniest turd in in the kitchen here basically.
• 14:08
  So we are Bitcoiners at heart. But we all know that there is an
• 14:13
  implication. There is a scale here.
• 14:15
  People will eventually drop their currencies, end up in the
• 14:18
  dollar and then all roads eventually lead to Bitcoin once
• 14:21
  they realize, hey, the dollar is no difference in my local
• 14:23
  currency here. So going further, Tom Luongo
• 14:27
  writes this. When I first really went down
• 14:30
  this path, the sulfur versus Libra rabbit hole, how the EU
• 14:33
  kept escalating and dragging the US along, all I did was think
• 14:36
  two or three steps ahead and it became obvious.
• 14:39
  If I didn't see it in our financial system and our gross
• 14:41
  fiscal mismanagement, I wouldn't have gone there.
• 14:44
  Seriously, listen to the latest GG and G podcast, his podcast,
• 14:48
  and it will all make much more sense.
• 14:50
  This is why I've been saying for a while that I'm a huge fan of
• 14:53
  Tom Luongo because it does seem like he's been doing a lot of
• 14:57
  good work and he he is really giving analysis that I haven't
• 15:01
  really seen anywhere else. So huge, huge take from Tom
• 15:05
  Malongo. It seems like he is correct.
• 15:07
  Now, again, we are a Bitcoin show.
• 15:10
  And what is very interesting about this is 1 as Tom Malongo
• 15:14
  was kind of saying, this started in Trump 1.0.
• 15:17
  It started in the first Trump presidency.
• 15:19
  Now he comes back in and it seems like the Libor system is
• 15:24
  dead now. Metaphorically, of course.
• 15:26
  And even though they're fighting Jerome Powell, it seems like
• 15:30
  there is a coordinated effort right now behind the scenes to
• 15:34
  kind of manipulate the interest rates kind of do AI don't know a
• 15:39
  game of chicken with Europe right now.
• 15:41
  We do know Jerome Powell has been saying for a while, I'm not
• 15:44
  going to move interest rates. And I think what Jerome Powell
• 15:47
  is doing is he's going to keep interest rates kind of where
• 15:50
  they are because he knows that he is refunding Europe.
• 15:53
  Now, the real interesting wrinkle here is, of course, how
• 15:56
  does Bitcoin get involved in all of this?
• 15:58
  We know the US is going full Bitcoin, or rather maybe full
• 16:01
  stable coins here. We know we've been hearing them
• 16:04
  talk about U.S. dollar dominance.
• 16:05
  So if you kind of read between the lines, it does seem like a
• 16:08
  lot of the geopolitical plays we're seeing right now is to
• 16:12
  kind of strengthen the dollar. And you guys know, I've been
• 16:15
  talking about this on the show for a while.
• 16:17
  They publicly are saying, hey, we want a strong dollar.
• 16:19
  We want really low interest rates, but privately it seems
• 16:23
  like they're doing kind of the opposite.
• 16:25
  They want a weaker dollar relative to everything else.
• 16:28
  They want low interest rates because then that free money is
• 16:30
  going to flow again. And if they do set up the US to
• 16:34
  be the Bitcoin superpower of the world, where do you think all
• 16:37
  this excess liquidity is going to end up?
• 16:39
  I think this is going to set up a perfect storm for Bitcoin.
• 16:43
  I think the price is going to start ripping soon.
• 16:45
  As you're seeing there's a lot of uncertainty in the system
• 16:48
  right now. People are dropping treasuries.
• 16:50
  They're doing whatever they can to prop up treasuries, hence why
• 16:53
  they're pushing for stable coins.
• 16:55
  And a lot of people just don't want Fiat money anymore.
• 16:59
  It's becoming a trend now. It's become very popular to talk
• 17:02
  about even or even say the word Fiat.
• 17:04
  You know, we had Elon Musk yesterday say Fiat is or what?
• 17:08
  No Monday or over the weekend. Fiat is hopeless.
• 17:10
  I'm starting a new party. It's starting to look like we've
• 17:15
  been right here at not just simply Bitcoin, but as
• 17:17
  Bitcoiners. Bitcoin is the end road here and
• 17:20
  people are starting to wake up that there is a lot of financial
• 17:24
  engineering going on that that makes them uncomfortable.
• 17:27
  And I think like I said a minute ago, all roads lead to Bitcoin.
• 17:30
  I think all of this capital is going to come into Bitcoin.
• 17:33
  And it really kind of leads me to an interesting thing that
• 17:36
  Kent told us right before the show.
• 17:38
  You know, you do you do you're you're Co founder CEO of SAS
• 17:41
  mining. You're a Bitcoin miner, but you
• 17:43
  had an interesting story of how you had a lot of interest from
• 17:47
  European. People is, is this all starting
• 17:50
  to make sense? Maybe all of these things are
• 17:52
  connected. So Kent, what's your take on
• 17:54
  this? Oh, I, I, I love this.
• 17:57
  So I'm learning in, in real time with you guys on this.
• 18:00
  So I, I did not know this the, the Sofer Libor relationship or
• 18:05
  Lugano here and his takes. But what I would say is, you
• 18:10
  know, from my vantage point, it's very clear.
• 18:12
  Like I'm a big proponent of like the sovereign individual in the
• 18:15
  fourth turning. If you've read those, what we're
• 18:19
  living through sort of makes a lot more sense and actually
• 18:21
  gives you a lot more like peace and understanding living through
• 18:24
  it. But it just, you can feel that
• 18:27
  the tectonic plates of our financial reality are shifting.
• 18:31
  And just like when they shift in on planet Earth, we have
• 18:36
  earthquakes, sudden shifts of like mountains suddenly occur
• 18:40
  and lava spouts out from volcanoes.
• 18:43
  I feel like the same thing is occurring with us here.
• 18:46
  And Bitcoin is ultimately going to be the winner here because
• 18:49
  it's outside. And eventually, like everybody's
• 18:52
  going to realize, I'd rather trust this thing that is outside
• 18:55
  of anybody's control than trust anything that is within
• 18:58
  someone's control. So it's going to win by default.
• 19:02
  But to your point, Opti, like what we're seeing is, yes,
• 19:05
  Europe, like I'm a European citizen.
• 19:06
  Not many people know that, but my wife is Portuguese.
• 19:09
  I lived in Portugal for six years.
• 19:11
  I became a citizen. And it's one of the reasons why
• 19:13
  I live in South America now is because I could see coming down
• 19:16
  the Pike things weren't going to turn out so well.
• 19:18
  Now, I think specifically Portugal is going to be fine
• 19:21
  because they've had a very unique culture and they'll
• 19:23
  they'll wind up just figuring out ways to work around the
• 19:27
  situation. But so Europe as an idea, I
• 19:30
  think is, is under stress and struggle here.
• 19:33
  The European countries individually, I think they'll
• 19:35
  make out. I mean, they've been through a
• 19:37
  lot worse, you know, the bubonic plague that destroyed 70% of the
• 19:40
  population. And I can't remember what year
• 19:42
  it was, but, you know, they survived that.
• 19:44
  They're going to survive this as well.
• 19:46
  So it's not like you're, yeah, European nations died.
• 19:48
  But what I do see happening, though, is as more control comes
• 19:52
  on place, because that's what tyrannical forces do, right?
• 19:55
  As there is more interest in trying to do something else, the
• 20:00
  the tyrannical force tries to clamp down harder and harder.
• 20:03
  That's CBD CS, right? We're getting separated Libor so
• 20:07
  far. US is separate.
• 20:10
  I love to see that as an American, we need our
• 20:12
  independence to have our own choice and direction and reality
• 20:15
  of where we're going to go. And frankly, it's it's crazy
• 20:19
  that that's even existed as long as it has the ties to London,
• 20:22
  Like that's just disgusting. I can't believe that we've
• 20:24
  allowed ourselves to be in that position so long.
• 20:27
  So I'm glad that we've now got the independence.
• 20:29
  That's wonderful. It's likely going to lead to
• 20:31
  some better decisions for Americans.
• 20:33
  But as the CBDC's are being clamped down, I believe
• 20:36
  October's when they're supposed to roll out, we are seeing more
• 20:40
  people show up at our doorsteps and hey, cool.
• 20:42
  Like I need Bitcoin, but guess what?
• 20:45
  I want Bitcoin that's outside the banking rails.
• 20:47
  How do you do that? You got to mine it.
• 20:50
  That's the only way that you can generate fresh Bitcoin.
• 20:52
  So, you know, they're showing up on our on on our doorstep and,
• 20:55
  and, and realizing, you know, it's pretty easy.
• 20:57
  This is just about as easy as going to Coinbase and buying
• 21:00
  Bitcoin. So why don't I just do that?
• 21:02
  And I've been fascinating to see folks are actually onboarding
• 21:06
  instead of buying Bitcoin. They're starting to mine it
• 21:09
  through US. Had a client that just joined
• 21:12
  that, he's been in Bitcoin six weeks and decided that mining
• 21:16
  was better than buying. So, and I'm here for it.
• 21:18
  That's when I, I feel like we're winning because this is the way
• 21:21
  Satoshi designed the network was for mining to be the way that
• 21:26
  bitcoins distributed, not buying it.
• 21:28
  And the more people that that mine it, I think the healthier
• 21:31
  the network is. But anyway, I'm getting ahead of
• 21:32
  myself. But at the end of the day, these
• 21:35
  control systems are coming into place.
• 21:37
  I mean, Christine Lagarde, I know you're an expert Opti, but
• 21:40
  Christine Lagarde is a convicted felon and she is the one
• 21:43
  implementing A CBDC. And if you look at what a CBDC
• 21:47
  is, it's an open air prison folks.
• 21:49
  Like this is ridiculous. We have a convicted criminal
• 21:53
  telling the entire continent of Europe that they want to put an
• 21:57
  open air prison around you. And don't worry, trust us.
• 22:00
  Like I'm sorry, the fox is in the hen house.
• 22:03
  Like don't listen to the fox. Yeah, 100% actually.
• 22:09
  So before you take it, I do want to mention something that you
• 22:11
  said, Kent, cuz as the chat was saying, you nailed the head.
• 22:15
  You nailed wait, you hit the nail on the head here, Doctor
• 22:19
  Daniel, how it goes a tectonic shift.
• 22:21
  It's a perfect description. And I know there's been a lot of
• 22:24
  like memes on Twitter right now of like the golden age and like
• 22:29
  it's here, you know, quit black Pilling.
• 22:31
  But what we are seeing, it's fundamentally this.
• 22:34
  There is something happening. And look, I'm not going to say
• 22:39
  that I know exactly what's happening from, but from my
• 22:41
  vantage point of covering the news every single day with you
• 22:44
  guys, it's exactly what Kent just said.
• 22:47
  There is this fundamental shift happening right now.
• 22:51
  Now, will this be a good thing? I don't know.
• 22:53
  All I know is I'm happy that Bitcoin is around.
• 22:56
  It's a thing. It's really healthy.
• 22:58
  The network is strong because if we didn't have Bitcoin at this
• 23:01
  point, I think we would all be in in a way worse position right
• 23:05
  now. So things are, you know, getting
• 23:07
  excited. Maybe this is the point of the
• 23:09
  movie where like, all right, you know, we're finally going to get
• 23:11
  some action. Does this mean the Bitcoin price
• 23:13
  is going to go up? Who knows, man, Just keep
• 23:15
  stacking. Get some wild stats like this is
• 23:18
  the signal here. It is Bitcoin.
• 23:20
  It will always be Bitcoin. You need to have more Bitcoin
• 23:23
  today than yesterday. Yeah, that's an excellent take.
• 23:27
  I actually had never considered that people would get into
• 23:30
  mining. But like I say, every show, I
• 23:33
  think that what's really going to push hyper bitcoinization and
• 23:37
  people actually taking the orange pill is having something
• 23:41
  catastrophic, like the ramifications of a CDBC be
• 23:47
  implemented in day-to-day life. And so, you know, it's it sounds
• 23:52
  crazy because it sounds so inconvenient, like it's so much
• 23:55
  better to just, you know, go on an app and buy some Bitcoin.
• 23:58
  But what happens when the government restricts you from
• 24:01
  doing that? You have to find other
• 24:03
  alternatives. And what happens when you don't
• 24:06
  know anybody who sells Bitcoin? There's nobody in your immediate
• 24:09
  friend group because you've all just been hypnotized by the
• 24:12
  government into thinking, oh, I'm just going to buy my Fiat.
• 24:15
  I'm just going to use my central bank digital currency.
• 24:17
  So when they stop you from spending that money, what are
• 24:22
  you going to do? Who are you going to turn to?
• 24:24
  You set up a minor and you go to companies like yours and you
• 24:29
  start to to figure it out and, and figure out how to survive in
• 24:34
  this new day and age. On one hand, it's terrifying
• 24:37
  because nobody wants to live in that world, but the reality is
• 24:41
  that we're already here, right? Fiat has already taken up, you
• 24:47
  know, all of our time and energy.
• 24:49
  And so it's just a matter of time before it's implemented on
• 24:53
  a global digital scale that it makes people wake up and realize
• 24:58
  that it's time to get it together and buy some Bitcoin,
• 25:02
  take it into self custody. Yes, if you're European, get it
• 25:05
  together and buy some Bitcoin. All right guys, we have got a
• 25:08
  jam packed show for you guys today.
• 25:10
  So I found an interesting tweet come out from unusual whales and
• 25:14
  obviously we always talk about the money inter inflation.
• 25:18
  The data might be worse than you even thought.
• 25:21
  This is why you need Bitcoin. And then kind of a continuation
• 25:24
  of yesterday's show, we got some new information coming out of
• 25:27
  the Samurai wallet devs and it's not good guys.
• 25:30
  As I was telling you yesterday, I was hopeful that we'd get some
• 25:33
  new news coming out. It's it's worse than we could
• 25:36
  even imagine. Of course, we're going to talk
• 25:37
  with Kent here. He just got back from Bitcoin
• 25:40
  Alaska. He's going to give us a little
• 25:42
  synops of what his presentation was and we're going to give it
• 25:45
  to you guys live on our show here.
• 25:47
  And I don't know about later today, but in a couple of days
• 25:50
  anyways, I do want to remind you to smash the like button.
• 25:53
  Of course, hit the like button, comment on this video.
• 25:57
  Are we seeing things? Do you think there's a tectonic
• 26:00
  shift happening while everyone's distracted by all the crazy
• 26:04
  stuff on Twitter? And of course, hit the subscribe
• 26:06
  button, guys, we're giving you the best content.
• 26:08
  We're giving you the most content.
• 26:09
  Anyways, I want to give a shout out to our boys over at Bitcoin.
• 26:12
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• 26:17
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• 26:52
  Well, we love them anyways. Let's get into the numbers.
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  not allowing you to huddle your Bitcoin for the long haul.
• 28:04
  I mean, here is the plate that they crushed, they put in water,
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  they put a blowtorch to it. And as you can see, the words
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• 28:24
  today. All right, guys, we are back.
• 28:31
  Of course we're going to go over some numbers.
• 28:33
  I'm only going to hit the big ones.
• 28:34
  You guys don't care about anything as much as you say.
• 28:37
  You don't care about the price, you only care about the price.
• 28:39
  All right, so the current Bitcoin price is 109,440 guys,
• 28:44
  it looks like we're on the verge of breaking out.
• 28:48
  I don't know I'm not I'm not the biggest chart boy here, but you
• 28:51
  guys can Fact Check me, but I'm seeing a bull flag breakout
• 28:54
  here. You know you guys can Google
• 28:56
  what that means it's bullish that's all you need to know.
• 28:59
  We are a -2.3 decline from all time high and the current block
• 29:04
  height is 904,781. You guys can check the other
• 29:07
  numbers. We're just getting to the big
• 29:09
  ones. All right, so this is pretty
• 29:11
  interesting here. We've been talking about
• 29:14
  actually, maybe I start with this chart here.
• 29:16
  You guys all know this chart. We've been, we, we constantly
• 29:20
  bring this up on the show. This is the M2 US money supply.
• 29:24
  And you know, it's been a, for the audio listeners, it's been a
• 29:27
  steady climb, very steady climb, always up and to the right.
• 29:31
  And then something very interesting happened around the
• 29:35
  year of 2020 where the M2 money supply expanded from 15 trillion
• 29:41
  or $15.4 trillion to a whopping 21.8 trillion.
• 29:47
  It dipped a little bit around 2023 and now we are back up to
• 29:51
  $21.9 trillion. That's the money expanding.
• 29:56
  It sounds to me like the money supply has expanded about 50% in
• 30:00
  that time. Well, we're starting to get some
• 30:03
  new data coming out that yes, your purchasing power has also
• 30:07
  declined as they expand the money supply.
• 30:09
  You get inflation, that means you get poorer.
• 30:12
  In layman terms, that means you get poorer.
• 30:14
  Your dollar doesn't go as far as it used to.
• 30:17
  Now, I know you guys, I, I wish I brought this up.
• 30:19
  I just thought about this when I was talking about this, but in
• 30:22
  2020, you know, when we all got stimulus checks, it was what,
• 30:25
  $1400? If you're like me, you took that
• 30:28
  $1400 and you bought Bitcoin. And I think the last number I
• 30:32
  checked, it was like 12,000 or $14,000.
• 30:35
  So you escaped the, the purchasing power decimation that
• 30:40
  everyone else did. And if you followed that and you
• 30:42
  took that $1400, you basically 10X your purchasing power if you
• 30:46
  bought Bitcoin with that money. Well, we got an interesting data
• 30:50
  point coming out of the US Bureau of Labor Statistics and
• 30:53
  this is what we constantly try to get across to you guys.
• 30:56
  Many people ask, why do I need Bitcoin?
• 30:58
  Well, it's simple. You don't want to get poor.
• 31:01
  It's not a get rich quick scheme.
• 31:02
  It's a don't get poor slowly scheme.
• 31:05
  And now they're even their data is telling us, hey, yeah, you
• 31:08
  guys got a lot poorer since 2020.
• 31:10
  So here's the tweet. A $100,000 salary in January of
• 31:15
  2020 has the same buying power as $124,353 in April 2025 S Now
• 31:23
  in five years you've basically lost 25% of your purchasing
• 31:27
  power according to the US Bureau of Labor Statistics.
• 31:30
  Now you guys know my take on all of this stuff.
• 31:33
  I, I can venture to guess that this data is worse.
• 31:36
  If this is the number that they're giving us, then I'm
• 31:39
  guessing it is worse than they're telling us.
• 31:42
  But anyways, we're going to take it on the surface here.
• 31:46
  If you haven't saved in Bitcoin, not only did you lose, you know,
• 31:50
  the 10X gains of saving in Bitcoin, but your dollars just
• 31:54
  got 25% less expensive. That means when you go to the
• 31:57
  grocery store, you can buy 25% less of what you are buying.
• 32:02
  That's why your chips and your cookies and your soda and
• 32:05
  whatever you're eating out there, your seed oils are
• 32:07
  getting more and more expensive and your your groceries grocery
• 32:12
  store haul is getting smaller and smaller because they're
• 32:15
  expanding the money supply. It means you are getting poorer
• 32:18
  in real terms. And they're able to do this
• 32:21
  because no one understands how inflation works.
• 32:24
  And this is one of the driving things that bitcoiners
• 32:26
  constantly talk about. I know if you're to Bitcoin or
• 32:30
  maybe just ignore me, you kind of like your eyes glaze over.
• 32:33
  You're like, I don't really care about this, but you do care
• 32:36
  about the fact that when you go to the grocery store, your
• 32:38
  dollar doesn't go as far as it used to.
• 32:40
  So I found that very interesting kind of connecting this with the
• 32:44
  first story. You know, a lot of things have
• 32:46
  happened in the last five years and I'm not a trust the plan
• 32:50
  MAGA guy. I, you know, I think Trump is
• 32:53
  hilarious. If there's a man that could
• 32:55
  fundamentally change the course of American politics, obviously
• 33:00
  it's Trump. And maybe we are going into a
• 33:02
  golden era. I don't know.
• 33:03
  I'm I'm I'm kind of skeptical about this because as we've
• 33:07
  seen, he's been expanding the money supply at an extraordinary
• 33:10
  rate here. So don't just trust the leaders
• 33:13
  to change your life. You need to take some
• 33:15
  sovereignty, some autonomy here. You need to start saving in
• 33:18
  Bitcoin. If this is the data again, if
• 33:20
  this is the data they're showing you, it's probably a lot worse.
• 33:23
  We all know that they manipulate CPI.
• 33:25
  The inflation rates aren't real that they give us.
• 33:28
  So I'm going to say it's probably worse than 25% of
• 33:31
  purchasing power that you've lost.
• 33:33
  But I still think it's absolutely insane that they're
• 33:35
  throwing this out here like, oh, hey, we don't know what
• 33:38
  happened, but you know, you're 100K in 2020.
• 33:42
  It yeah, you need 125K to buy the same amount of stuff.
• 33:46
  And you're just like, Ouch. OK, so it is accelerating.
• 33:50
  Anyways, Kent, I will pass it over to you before we get
• 33:52
  Sophie's take because I already know her takes.
• 33:54
  She's like, I like to buy things and things are more expensive.
• 33:56
  So, Kent, what's your thoughts seeing this official quote, UN
• 33:59
  quote, official number coming out of the US government?
• 34:03
  Oh, man. So my thought, Opti, is less a
• 34:06
  thought and more a question. Like, at what point do the
• 34:09
  American people wake up and understand what's going on?
• 34:13
  And to me, I mean, I know the greatest thing that causes
• 34:16
  change is pain, and it's clear that there's pain out there
• 34:21
  right now, but is it enough? Is it enough to actually look up
• 34:25
  and break the spell? Because that's what it seems
• 34:28
  like to me. I think, I think that Bitcoin is
• 34:30
  this like spell breaker and the US public right now is enchanted
• 34:35
  by Fiat. You know, we talked about this
• 34:37
  last time I was on how there's this occult imagery that's on
• 34:41
  the dollar. But it does seem the more I, the
• 34:43
  more I study and look at this like the people are just
• 34:46
  enchanted, you know, to break people and to get them to even
• 34:50
  study Bitcoin. You hit this like visceral
• 34:52
  reaction with so many people. And it's just so emotionally
• 34:55
  charged at this point to even talk Bitcoin And it's like, hey,
• 34:58
  I'm trying to help you, you know, and like, no, don't help
• 35:01
  me. Like I've got Stockholm
• 35:02
  syndrome, Like put me back in the cell please.
• 35:04
  It's just crazy that there's so much pain out there and people
• 35:08
  are still so reactionarily negative towards Bitcoin when
• 35:12
  it's the only thing that's going to save them.
• 35:14
  So I'm, I'm hopeful that these sort of statistics like start to
• 35:18
  breakthrough people's, you know, mental predispositions and, and,
• 35:23
  and we get, get on team Orange sooner than later.
• 35:25
  But at the end of the day, you know, nobody likes to see their,
• 35:29
  their, their purchasing power disappear in this way.
• 35:31
  I mean, 24% or 25% change in your purchasing power means that
• 35:36
  all things being equal, you need it to work that much more.
• 35:39
  I mean, that's just a crazy hamster wheel life.
• 35:41
  And Bitcoin lets us get off of that hamster wheel.
• 35:43
  And I, I just think if you're not saving Bitcoin, then what
• 35:47
  are you doing? Yeah.
• 35:49
  And don't forget the taxes. All, all those free days that
• 35:52
  you have to be working just to get nothing back in return.
• 35:57
  But that's, that's 100% right, Ken.
• 36:00
  And, and I had mentioned this before.
• 36:02
  Sometimes it really does take the water in the pot to just get
• 36:07
  boiling hot for people to finally jump out.
• 36:10
  And I know that we're all a little bit mad at Trump right
• 36:14
  now, but just hear me out. That man is solely responsible
• 36:19
  for making the price of Bitcoin go up because the more money he
• 36:22
  prints, the worse life gets for the average American, the higher
• 36:29
  the price of Bitcoin goes up. And guess what?
• 36:31
  That means that your friends and family are going to text you and
• 36:34
  they're going to say, how's that Bitcoin thing going for you?
• 36:38
  You must be super up. Do you think that we could like
• 36:41
  meet up so that you can talk to me about how to take my Bitcoin
• 36:44
  into self? What was that thing that you
• 36:45
  were telling me about? How do I buy it on Coinbase?
• 36:49
  It starts getting the wheels turning.
• 36:52
  So you know, yes, this empty. I love buying things and right
• 36:57
  now buying things is really hard and and while a lot of people
• 37:02
  won't care about buying groceries because let's be
• 37:05
  honest, you're all Uber eating, It's it's it's also going to be
• 37:11
  the catalyst. It's going to be the thing that
• 37:13
  makes you take your finances seriously and ask yourself the
• 37:17
  question, what is money? Why am I working so hard without
• 37:20
  getting anything in return? Why can't I buy a house right
• 37:23
  now? Nico sent me this graphic the
• 37:26
  other day where in 1985, How do I do that?
• 37:32
  Wait, hold on. I'm like Facebook marketplace.
• 37:36
  Oh, there we go. OK, cool.
• 37:38
  So he sent me this screenshot where buying a home in 1985 used
• 37:46
  to call the medium home price used to be $83,000 and your
• 37:51
  annual income used to be $23,000.
• 37:55
  I don't think people can survive like more than six months on
• 37:59
  that anymore. And now the price of a home is
• 38:02
  the median price of a home at that is $468,000.
• 38:07
  And let's be real, that's not even like really real,
• 38:11
  especially if you live somewhere like Miami.
• 38:14
  Like you need to be, you need to be, you need to be making a lot
• 38:17
  more than $75,000. Yeah, I don't think you can get
• 38:20
  a shitty house in Miami for 468K.
• 38:23
  No, no, you really can't. But what's the other number?
• 38:28
  Is what 74 point 5K for household?
• 38:33
  Income. That means two people, OK.
• 38:37
  So it looks like all right, quick math.
• 38:39
  Someone, someone fact checked me on this in the, you know, I'm
• 38:42
  bad with math here, but for the boomers, it was what about four
• 38:46
  times your salary to buy a house?
• 38:49
  And now it's what's that? I don't know 6.
• 38:55
  Three times. No, it's more than that.
• 38:57
  No, from 23 to 74. No, but this number, the house,
• 39:02
  the income to the house price. Oh, that's it's more, it's more
• 39:05
  expensive. It's more expensive.
• 39:07
  That's all you need to know. Yeah, 100%.
• 39:11
  It's it's pretty, pretty wild. What's going on.
• 39:14
  And really I've been seeing, actually, I saw this tweet and
• 39:19
  the, the, the trolling was like, when baby boomers tell you you
• 39:22
  just need to work harder and you're like, that's not what's
• 39:24
  going on. I think we're working harder
• 39:26
  than ever. It's just our money's broken.
• 39:28
  So our money doesn't go as far. Now Kent and Sophie brought up a
• 39:33
  interesting point because I do have a personal heuristic here.
• 39:36
  And I, I've said this on the show already, like one of my
• 39:38
  friends who's been a skeptic of Bitcoin for as long as I've been
• 39:42
  in big. He's like one of my oldest
• 39:43
  friends and he know I got, he knows I got into Bitcoin.
• 39:45
  I've been trying to show Bitcoin to him for like years, literally
• 39:49
  years. I at my first early shows, I was
• 39:51
  like getting angry at him. I'm like, how do you not see
• 39:53
  what's going on? And then after a while I stopped
• 39:56
  kind of even talking about Bitcoin.
• 39:58
  He literally called me out like 2 weeks ago.
• 40:00
  And he's telling me like back home, he's like, man,
• 40:02
  everything's more expensive, You know, businesses are going down,
• 40:06
  rent is more expensive. And he's like, I got some
• 40:09
  stocks, but they're not really performing.
• 40:11
  And I'm like, Oh yeah, that's cool.
• 40:13
  You know, like I, I feel your pain, bro.
• 40:15
  And, and then he's like, so how's the Bitcoin thing?
• 40:17
  I'm like. You know, we're at 100K, we're
• 40:20
  doing pretty good. And he's out.
• 40:22
  Essentially what I'm saying is he's finally feeling the pain.
• 40:25
  And as Kent was saying, like, what will get us to the point
• 40:29
  where people will wake up? I don't think it's going to be
• 40:31
  statistics per SE, but the statistics are confirming what
• 40:35
  they're feeling. And it's really the pain that
• 40:38
  wakes people up. Like I had to feel pain to wake
• 40:41
  up to Bitcoin. I'm sure Kent had to as well.
• 40:44
  Self had to deal with Nico. That's a lot of pain.
• 40:46
  So of course, that's how she woke up to Bitcoin.
• 40:49
  And now we're starting to see that like the pain, they can't,
• 40:53
  it's unavoidable here. People are struggling.
• 40:56
  And it's, it's one of those moments where I know we like to
• 40:59
  troll a lot and, and we say that like, have fun staying poor meme
• 41:03
  or whatever meme. But right now is the time where
• 41:06
  I think more people are going to be open to the Bitcoin idea
• 41:10
  because their life is getting more expensive, because
• 41:12
  groceries are getting more expensive because rent or even
• 41:15
  buying a house is probably unattainable for most people.
• 41:19
  Like now is the time to kind of check in on your friends and
• 41:22
  friends like, Hey, how are you doing?
• 41:23
  You know, you're healthy, you're happy, you're prosperous and
• 41:27
  you're like, oh, hey, hey, how's life?
• 41:29
  And they're like, it sucks. And you're like, well, maybe you
• 41:32
  want to try Bitcoin now. Maybe now's the time.
• 41:34
  This is, I've been saying this for years on the show.
• 41:36
  The best way to lead is just be an example of that.
• 41:39
  And I think all of us Bitcoiners that have been on, you know, our
• 41:42
  personal quote Bitcoin standard for a few years, I find all my
• 41:45
  friends to be doing very well right now.
• 41:47
  And my Fiat and army friends, they're kind of struggling like
• 41:51
  this is how you market Bitcoin is by being what it means to be
• 41:54
  a Bitcoiner. You know, what's crazy is that
• 41:57
  my normie friends don't even know that they're struggling.
• 42:00
  Like they're struggling, but they don't know why.
• 42:03
  And they don't know like where it's coming from.
• 42:05
  And they just kind of like it's so normalized that they, they
• 42:10
  can't even fathom that it's because the money is broken.
• 42:13
  And when you bring it up to them, they think that you're
• 42:15
  crazy. But when you, when you really
• 42:17
  just like logically put it on paper, what is the thing that
• 42:22
  affords you to do things that make you happy?
• 42:24
  Money. If that is, is, and you're, if
• 42:28
  you're making money and it's somehow not enough, there's an
• 42:32
  issue there. And, and this thing is, this is
• 42:35
  something that Nico always brings up, you know, over time,
• 42:39
  supposedly you're, you're the amount of technology that there
• 42:43
  is in the world, like it's, it's supposed to increase
• 42:45
  productivity. Why is it that productivity has
• 42:48
  increased more than ever? You know, and I know that the
• 42:51
  boomers love to call our generation lazy or whatever, but
• 42:55
  why is it that productivity has increased, but our actual wages
• 43:00
  have decreased? You know, and, and once you
• 43:03
  figure that out, you figure out that that Bitcoin is the
• 43:06
  solution here, you really, you really got to get yourself some.
• 43:09
  It takes some pain, guys. It takes some pain.
• 43:12
  Unfortunately, there is no easy way.
• 43:14
  Dose of depression. Yeah, yeah.
• 43:17
  Well, you know, you need to take the point of what you need to
• 43:19
  take the medicine or a little bit of the poison to get the
• 43:22
  medicine. I I forget what the the saying
• 43:24
  is, but you guys know the deal. Look there.
• 43:27
  Is no spoonful of sugar. Yeah, exactly, exactly.
• 43:30
  Like as much as I wish this could be easy for everyone, it's
• 43:35
  not easy. Actually, you guys know, I, I,
• 43:37
  I've been training with, I trained to train with him this
• 43:40
  morning, the unofficial official trainer of simply Bitcoin.
• 43:43
  And we were, we were talking about like orange filling and it
• 43:48
  was just funny. It's like, man, I really wish
• 43:50
  there was an easy way to do this, but there just is no easy
• 43:53
  way and people need to embrace the suck.
• 43:55
  It's kind of like going to the gym.
• 43:56
  You don't want to go to the gym, but once you start doing it,
• 44:00
  you're like, OK, that wasn't that bad.
• 44:02
  Like there's just no easy way to do this guys.
• 44:04
  I really wish there was, but you need to take that first step and
• 44:08
  start saving in Bitcoin. Anything 10/20/30, forty, $50,
• 44:13
  whatever you got, you need to take that first step.
• 44:15
  Did you want to jump in Canada? Were you breathing or this?
• 44:20
  Was this? Was that a sigh?
• 44:21
  That was just a sigh. Man, I, I, I, I'm, I'm, I'm
• 44:25
  running a little sleep, having a took a red eye to get back from
• 44:28
  Alaska. All right.
• 44:29
  Well, well, well, I get it. We'll we'll, we'll RIP right
• 44:31
  through the news and we'll get you excited again talking about.
• 44:34
  Thank you. Alaska.
• 44:35
  All right, guys, let's get into the news again.
• 44:38
  It just might be a little bit of a downer for for a lot of the
• 44:41
  the privacy advocates out there. But again, said this.
• 44:44
  Was you just said this was going to get exciting?
• 44:46
  No, no, the the culture exciting for Kent when he talks about
• 44:50
  what he was doing a lot. All right.
• 44:52
  Anyways, we're moving on. I want to give a shout out to
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  our partner Let In, the leader in Bitcoin Back Loans Unlock the
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• 47:22
  All right guys, so I wanted to bring this new story today
• 47:26
  because I was covering the Tornado Cash story yesterday and
• 47:30
  it's kind of a continuation of this theme.
• 47:32
  Everyone knows here on the show the infamous Niko crash out
• 47:36
  after the Samurai Wallet devs got arrested.
• 47:39
  Well, we got a new update coming out from the Rage, AKA Lola
• 47:43
  Elites's publication. And again, it's just, it's not
• 47:47
  good. And yesterday I was kind of
• 47:50
  hopeful that this would change. Obviously, it's still, it still
• 47:53
  has to go through the court. So maybe we get some good news
• 47:56
  coming out of this, but the implications are not good here.
• 48:00
  It's not, it's not a very, you know, upbeat story here.
• 48:04
  So again, I'm over at the Rage. This is rage.co.
• 48:08
  And if you are watching the show, you can see the headline
• 48:10
  that goes New Samurai indictment paints anonymity as a crime.
• 48:15
  The New Samurai Wall indictment paints the developers of having
• 48:18
  built the privacy service for the sole purpose of serving
• 48:21
  criminals. I repeat, they created a privacy
• 48:25
  service for the sole purpose of serving criminals.
• 48:27
  It literally it's going backwards.
• 48:29
  Like I, I thought we were, you know, kind of moving ahead, but
• 48:33
  it doesn't seem like the courts of New York are are, you know,
• 48:37
  getting, getting the hint here. So anyway, the Southern District
• 48:40
  of New York SDNY has filed A superseding indictment against
• 48:44
  samurai wallet developers Keon Rodriguez and William Hill.
• 48:47
  The indictment expands the charge timeline by two months
• 48:50
  from February 2024 to April 2024 at 150 million to the alleged
• 48:56
  criminal proceeds laundered, now totalling 250 million.
• 49:00
  Now they just made it even worse.
• 49:02
  Not looking good to be honest. The new indictment additionally
• 49:05
  adds quote drug trafficking to the description of allegedly
• 49:08
  laundered funds, meaning that it may be reasonable to assume that
• 49:12
  the US government has newly identified Bitcoin allegedly
• 49:15
  obtained through the sale of illegal substances that pass
• 49:18
  through Samurai wallet service. The new indictment additionally
• 49:22
  removes all but one mention of so unlicensed money
• 49:25
  transmission, including all references to 18 USC 91960
• 49:31
  governing federal money service businesses licensing
• 49:33
  requirements. In line with Deputy Attorney
• 49:36
  General Todd Blanch April memo, the new indictment yet continues
• 49:40
  to charge the developers under Count 2 with conspiracy to
• 49:43
  operate an unlicensed money transmitting business, despite
• 49:46
  the fact that many other jurisdictions have been dropping
• 49:49
  cases based on the Blanche memo as well as regulatory
• 49:53
  uncertainty. So it seems like they're
• 49:55
  expanding the case. They're basically making, you
• 49:59
  know, privacy a crime here, saying that if he create a
• 50:02
  software that criminals use, you're basically responsible for
• 50:06
  them and you need a money transmitting license.
• 50:10
  I don't know, it sounds like maybe we should be doing that
• 50:13
  around the US dollar. Like that's the certification of
• 50:15
  the dollar. The criminals use the dollar.
• 50:18
  Used Opti. Why is it so?
• 50:20
  Now Bitcoin is considered a currency.
• 50:26
  Yeah, hot take so. Does that mean that, like, we
• 50:29
  don't have to pay capital gains? I mean, I don't know.
• 50:31
  Because if that's the case, then you can't have it both ways,
• 50:35
  folks at the government. Well, yes, they can.
• 50:38
  They're the government. You got to trust the government
• 50:40
  and. That's exactly why you have to
• 50:42
  doubt that, because once you do, there's nothing that they can do
• 50:45
  to like, do anything about this. Like honestly.
• 50:48
  Yeah, it's it's it does start to look like unfettered power here.
• 50:54
  And obviously the hypocrisies that that you and the
• 50:56
  doublespeak coming out of them. Now, I do want to read Lola
• 50:59
  Leeds tweet real quick because of course she's the one behind
• 51:03
  this and she kind of points out the inaccuracies here and and
• 51:06
  basically the hypocrisy. So Lola Leeds tweets The new
• 51:10
  Samurai Wallet indictment truly is a phenomenally disingenuous
• 51:13
  pieces of garbage, likely filed to reflect that the government
• 51:17
  is no longer pursuing federal licensing violations.
• 51:20
  The new indictment removes all references to quote unlicensed
• 51:23
  except 1S. DNY seems to have taken the
• 51:26
  opportunity to make their indictment even more confusing
• 51:29
  to the judge. Entire paragraphs are moved
• 51:31
  around, language has changed, and most importantly, the new
• 51:34
  indictment seems to make 0 distinction between Samurai
• 51:37
  Wallet the entity and Samurai Wallet the software.
• 51:40
  Take these two paragraphs for example, the first from the
• 51:43
  original indictment and the second from the new one quote.
• 51:45
  The cryptocurrency is cut down and leftover funds are quote
• 51:49
  placed in a separate address and provided back to the Samurai
• 51:53
  user. And here's the new one.
• 51:55
  Samurai cut down the cryptocurrency into correct
• 51:58
  sizes for a chosen pool and Samurai returned back to the
• 52:01
  user any leftover fund from this transaction that were too small
• 52:05
  to enter the Whirlpool by replacing them in a separate
• 52:07
  address. So instead of correcting the
• 52:09
  technical and accuracies, SDN and Y chose to double down on
• 52:14
  them. In my opinion, this means that
• 52:16
  the prosecutors either somehow managed to get even more stupid
• 52:20
  over the past 1 1/2 years, or that SDN Y is intentionally
• 52:24
  attempting to mislead the judge on how the Samurai wallet
• 52:27
  software worked, making it look like the developers had more
• 52:30
  control over funds than they did in reality.
• 52:33
  They call this quote justice my guys.
• 52:36
  Guys, again, as I was saying yesterday, I was hopeful that
• 52:41
  with the the Tornado Cash case kind of being thrown out of the
• 52:46
  OFAC and Coin Center doing some some good work that hopefully
• 52:51
  the Tornado Cash guys, you know would would be seemingly found
• 52:55
  innocent of their quote UN quote crimes here maybe.
• 52:58
  This is why they're doubling down.
• 53:00
  It could be, and as I said, hopefully that would set a
• 53:03
  precedent for the samurai wallet guys because of course, you
• 53:05
  know, you Maxis in the chat, you know, waiting to throw tomatoes
• 53:09
  at me. It's like it's in the theory of
• 53:10
  mixer, dude, Who cares? Well that was the precedent for
• 53:13
  arresting the Samurai Wallet guys and now seemingly trying to
• 53:17
  make privacy illegal on Bitcoin, so there's still a lot of work
• 53:21
  to do here. This is not looking that good to
• 53:25
  be honest. Hopefully the judge can see
• 53:27
  through all of the BS coming out of SDNY again.
• 53:31
  You know, free the Samurai Wallet devs again.
• 53:34
  Shouts out to little elites in the rage.
• 53:35
  They're doing incredible work, I highly recommend you follow
• 53:38
  them. My hot take is, you know,
• 53:40
  privacy to transact is privacy to transact.
• 53:43
  So whether it's being done in Ethereum, whatever it like, if
• 53:47
  that's your choice, if you want to, you know, transacting
• 53:52
  whatever coin like that, you, that's, that's on you honestly.
• 53:55
  But it's the fact that there is this entity that's trying to
• 54:00
  control what it is that you're trading.
• 54:02
  And if you think that it won't happen to you, think again,
• 54:06
  because Bitcoin is way more powerful than any of these other
• 54:11
  coins as we know. And so eventually it's going to
• 54:14
  come back around and slap to us. They're just trying to set a
• 54:17
  precedent, and if they can set a precedent with Etherium or
• 54:20
  whatever other shit coin, it's going to come back for you
• 54:23
  guaranteed. Hold on, selfie spitting bars
• 54:30
  once she's not in the host seat and she can get a little more
• 54:33
  loose here and you know that's when self shines and starts
• 54:36
  spitting some bars here. Guys, bear with me, it's going
• 54:39
  to be a long week. All right, Kent, what's your
• 54:43
  thoughts on this? I'm not sure if you've been
• 54:45
  following along on the Samurai Wallet case, but it was one of
• 54:49
  the big, big stories that came out last year.
• 54:52
  Again, you know, here at simply, we tried to stay neutral
• 54:56
  politically until the Samurai Wallet case came out.
• 54:59
  And then, you know, Nika crashed out and went full MAGA on us.
• 55:03
  So, you know, I'm a little more skeptical here, but this is not
• 55:08
  looking good for the Samurai Wallet devs.
• 55:10
  I really hope that something changes here.
• 55:12
  Rather, maybe the judge realizes what the, you know, SDNY is
• 55:18
  doing because the one they're inaccurate 2, they're trying to
• 55:21
  paint a picture that isn't true and three, we all know, you
• 55:24
  know, the biggest criminals use Fiat.
• 55:26
  So are they going to shut down the banks?
• 55:27
  Like what? What are we what are we talking
• 55:29
  about here? Let let's not have double
• 55:30
  standards in regards to, you know, dollars and Bitcoin, But
• 55:34
  of course, they live on double standards.
• 55:36
  Anyways, I'll start ranting. Can't.
• 55:37
  What's your thoughts reading this?
• 55:39
  What? Just a question, What's the
• 55:42
  Federal Reserve's address? Exactly.
• 55:48
  Just pointed out the, the connection here, right, So the
• 55:52
  Southern District in New York, I have been tracking this one
• 55:54
  pretty closely because I, I do care about privacy and the right
• 55:57
  to transact. I think it's a fundamental right
• 56:00
  and I would actually love to see the Bitcoin community rally
• 56:03
  rounded and a potentially or push to actually get it
• 56:06
  introduced into our Bill of Rights as citizens.
• 56:09
  You know, the, the, the right to transact could not be even
• 56:13
  conceived of when our founding fathers put together the
• 56:16
  Constitution, right? Like it was impossible to think,
• 56:19
  Oh, I hand a bill or I didn't even bills, right?
• 56:22
  They're all coins at that point, at that point in time, right?
• 56:24
  And so they're handed over these coins.
• 56:26
  Like, how could you even envision that somebody could get
• 56:29
  in between you and the ability to transact when the
• 56:32
  constitution was put together? But it is a it's a substrate on
• 56:35
  which all of our other freedoms are based, right?
• 56:38
  Like, you can't actually go protest unless you can buy a bus
• 56:42
  ticket. Well, if you can't have the
• 56:43
  right to transact, have you buy a bus ticket to get to the
• 56:45
  protest? Or how do you go to the store
• 56:47
  and buy your gun if you can't actually transact to buy it?
• 56:50
  So I think we need to get behind the right to transact as a
• 56:54
  fundamental part of our freedoms as American citizens.
• 56:58
  And until that's done, this is this is just one of those
• 57:00
  encroachments on that. And to me, this case is just
• 57:03
  stupid. It's a it's a blatant power grab
• 57:06
  by the Southern District of New York.
• 57:08
  The federal prosecutors have even said, like, you know, with
• 57:10
  the Blanche memo that this is this really doesn't have any
• 57:13
  legs. And so I'm hoping just truth
• 57:16
  prevails. Like the biggest risk to me is
• 57:19
  that we as a Bitcoin community don't do enough to support the
• 57:22
  samurai wallet dev so that they can continue their defense and
• 57:25
  the lawyers can get paid so that we can drive this all the way to
• 57:27
  the Supreme Court if that's what we have to do to get this
• 57:30
  cleared. Because it just seems absolutely
• 57:32
  asinine that that there's any lengths to this.
• 57:36
  Because the Blanche memos pulled the the the rug out from the
• 57:40
  legal precedent here. So there's this is freedom of
• 57:43
  speech stuff like where they wrote the code and then people
• 57:46
  are using it. I mean, it's a tool.
• 57:49
  How you use the tool is totally dependent on the end user, which
• 57:53
  is why we have the rights to guns, which was why we have the
• 57:56
  rights to knives, because you can cut a tape where you can cut
• 57:59
  a person with it, but it's how you choose to use it that
• 58:01
  matters. It's not the tool itself.
• 58:03
  So this is just a totally stupid abuse and and waste of power.
• 58:07
  But it makes sense if it's coming from the Southern
• 58:11
  District of New York, where the seat of the money printer power
• 58:14
  is in the US, that they're trying to maintain as much
• 58:17
  control as they can for as long as they can.
• 58:19
  So I understand the incentives here.
• 58:21
  It's not surprising to see it happen, but it's still stupid.
• 58:25
  Yeah, no, 100%. And I think that's definitely
• 58:28
  the signal where it's coming from.
• 58:30
  We all know New York has not been very friendly to Bitcoin
• 58:34
  forever. Obviously, it's not like this is
• 58:38
  not a good thing for, you know, the Samurai wallet devs
• 58:41
  themselves. But as Kent was saying, the
• 58:44
  incentives are very clear. And as we've been covering along
• 58:48
  on the show for years now, we know that there is a very
• 58:53
  coordinated attack on Bitcoin. We know why they don't want
• 58:56
  Bitcoin to get proliferated. We know why they don't want
• 58:59
  privacy to be on chain. And really, if you want to take
• 59:02
  a more nefarious look at this, it is kind of interesting now
• 59:05
  that the US is going more pro Bitcoin and then it's also
• 59:09
  getting attacked for its privacy.
• 59:12
  As my boy Mark Goodwin's been saying, you know, we as
• 59:14
  Bitcoiners have to be very vigilant here because we could
• 59:18
  be building ourselves, you know, this beautiful orange cage here.
• 59:21
  We all know Bitcoin is a transparent Ledger here.
• 59:24
  So we got to make sure that privacy is a right, that people
• 59:28
  can use Bitcoin privately, that we don't have to expose our
• 59:31
  holdings because some guy with a suit tells us to, you know, if
• 59:35
  we have two forks in the road here.
• 59:37
  And as a Bitcoiner, as a sovereignty maxi, as a node
• 59:41
  runner, these precedents that we're seeing come out of SDNY
• 59:45
  are not good. I'm, I'm really hopeful for the
• 59:48
  samurai wallet devs. And yes, as Kent was saying, you
• 59:50
  know, as a community, we, we got to do what we can to not only
• 59:54
  highlight what's going on, but at times, guys, we, we might
• 59:57
  have to pull out some sets and, and help, you know, fund this
• 1:00:00
  case because this is a very big, big case and it seems like.
• 1:00:05
  It kind of has been skirted under the rug, like there hasn't
• 1:00:09
  really been that much fanfare around it after it initially
• 1:00:12
  came out. So of course, we'll see what
• 1:00:15
  happens when the court date gets closer and we get a little more
• 1:00:18
  clarity on what's actually going to happen.
• 1:00:20
  But it's not looking good, guys. They are actively attacking
• 1:00:24
  Bitcoin and Bitcoiners, and it should kind of piss you off is
• 1:00:27
  all I'm saying. That's all I'm kind of saying.
• 1:00:29
  This is why I'm bringing this up to light.
• 1:00:31
  Anyways, we'll get off some of, you know, some buzzkill topics
• 1:00:34
  here. Ken just got back from Alaska,
• 1:00:37
  hanging out with Ruston in the flesh, and you had an
• 1:00:40
  interesting talk here. So you're going to do a recap
• 1:00:42
  about that. And of course, we'll talk some
• 1:00:44
  SAS mining. Maybe you want to get some some
• 1:00:47
  wild stats. Now, maybe all of this talk is
• 1:00:49
  making you feel a little uncomfortable and you're like,
• 1:00:52
  maybe I should get some Bitcoin. Not from an exchange.
• 1:00:55
  Yeah, you probably should. OK, let's get into the
• 1:00:58
  conversation. I want to give a shout out to
• 1:01:02
  our partner Hive Digital Technology.
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• 1:02:45
  We'll get you, we'll get you awake now.
• 1:02:48
  First of all, I think let's just start with how was Bitcoin
• 1:02:50
  Alaska. Obviously we weren't there, but
• 1:02:52
  Ruston was there. It looked like a good time
• 1:02:55
  actually some interesting. I think there was a direct
• 1:02:58
  connection between Bitcoin Alaska and an interesting news
• 1:03:01
  story. Apparently, I haven't fully
• 1:03:03
  looked into it, but and the Alaskan sovereign wealth fund is
• 1:03:06
  now looking into Bitcoin. So it looks like these
• 1:03:10
  conferences actually do have an effect, a real life effect
• 1:03:13
  versus just against your, you know, Bitcoin wallets here.
• 1:03:16
  So, Kent, how was your time in Alaska?
• 1:03:19
  Oh, it's amazing. I mean, if you like glaciers and
• 1:03:24
  mountains and wildlife, salmon, halibut, these sorts of things
• 1:03:28
  like king crab, definitely recommend it.
• 1:03:31
  So Juneau is where Bitcoin Alaska was.
• 1:03:33
  Juneau's the capital of Alaska, smaller city, 3040 thousand
• 1:03:39
  people. And it's tucked at the like the
• 1:03:42
  base of a fjord where cruise ships come in for these like,
• 1:03:46
  classic trips. And they did, the organizers did
• 1:03:49
  schedule one of those for us, not the cruise, but a trip up
• 1:03:52
  the fjord to go see whales and glaciers, waterfalls, all these
• 1:03:55
  things I'm talking about. It was incredible, very well
• 1:03:58
  done. And it was chosen intentionally
• 1:04:01
  to be in Juneau. And shout out to the organizers
• 1:04:03
  for doing an amazing job with it.
• 1:04:05
  I think that it's going to be one of those conferences that
• 1:04:07
  just gets gets plugged into the circuit in a way way that is
• 1:04:11
  going to lead a lot of people to Alaska and just realizing like
• 1:04:13
  how amazing that state is. I mean, I had no idea, but the
• 1:04:17
  state of Texas easily fits within the size of Alaska.
• 1:04:20
  Like if Alaska is 2 times the size of Texas and I think US
• 1:04:24
  lower 40 eighters think that Texas is massive and it is, but
• 1:04:27
  Alaska just dwarfs everything on the in the on the continental
• 1:04:31
  lower 48. Anyhow, so amazing event.
• 1:04:35
  Really loved it. Loved time they got involved.
• 1:04:37
  Like there's a congressman there, Nick Begich, and I may
• 1:04:40
  have pronounced his name incorrectly, but the state
• 1:04:44
  controller was there as well. So it was clearly intended to
• 1:04:47
  orange pill the Alaskan legislators.
• 1:04:51
  And it sounds like it's already making inroads.
• 1:04:53
  I hadn't heard that yet, but that's amazing Opti.
• 1:04:56
  Yeah, 100% here. I'll, I'll pull it up real
• 1:04:59
  quick. So did you want to chime in here
• 1:05:01
  or? Yeah.
• 1:05:01
  Actually, I had a question. So I went to Iceland a million
• 1:05:05
  years ago and that was kind of at the start of Niko and I's
• 1:05:10
  Bitcoin journey. And I had always wondered, like
• 1:05:13
  in these cold places, is it easier to mine?
• 1:05:16
  Like is there a huge mining opportunity in Alaska?
• 1:05:19
  Talk to us a little bit about that.
• 1:05:22
  Oh, yeah, no, thank you for for touching on that.
• 1:05:24
  There absolutely is. So there's a lot of
• 1:05:26
  underutilized hydropower, so a lot of clean electricity there.
• 1:05:32
  The problem is, and part of why the conference was there was to
• 1:05:36
  influence and help the the Legislator Act to loosen up some
• 1:05:41
  of the regulations around. Like for instance, one of the
• 1:05:43
  most surprising things there was a panel that was specifically on
• 1:05:47
  legislative restraints. And and because there's such a
• 1:05:49
  big gold mining focus there, it's not actually totally clear
• 1:05:53
  if the regulations that apply to gold mining apply to Bitcoin
• 1:05:56
  mining, right? So like that level of confusion,
• 1:05:59
  the taxes that would apply to gold mining, could they apply to
• 1:06:01
  Bitcoin mining? Don't know.
• 1:06:03
  But the, the issue is that there's a lot of regulatory red
• 1:06:07
  tape that needs to be worked through for Bitcoin miners to
• 1:06:10
  get access to that electricity. And part of the conference was
• 1:06:15
  showing like, hey, there's a lot of economic potential here,
• 1:06:17
  which of course there is, but the legislators need to figure
• 1:06:20
  out how to make the access to that power that's underutilized
• 1:06:23
  more accessible. And so I think this conference
• 1:06:26
  is definitely going to break that ice and, and, and move that
• 1:06:29
  conversation forward in a pretty massive way.
• 1:06:31
  Because I mean, states, state legislators are like any
• 1:06:34
  politicians anywhere. They want votes.
• 1:06:37
  And to get votes, you need to create jobs and to create tax
• 1:06:40
  revenue for the state, right to continue to fund those
• 1:06:45
  government services. So that's the circle of life.
• 1:06:47
  And we're able to do that with mining, create the jobs and the
• 1:06:51
  tax revenue that help the politicians.
• 1:06:53
  Wow. Yeah, that that connection is
• 1:06:56
  fascinating, whether, you know, the same regulations that apply
• 1:07:00
  to gold also apply to Bitcoin. And it kind of it makes me feel
• 1:07:04
  like there's going to be this renaissance in the country.
• 1:07:07
  Like, you know how people used to go out West to mine gold,
• 1:07:11
  Maybe now people go to Alaska and go to all these different
• 1:07:14
  parts of the country to mine Bitcoin and to and to have jobs
• 1:07:19
  in mining and to have a future in this industry.
• 1:07:23
  So I think that that's absolutely fascinating.
• 1:07:26
  Totally. All right, so Ken, here's a
• 1:07:28
  tweet and then and then I really want to pivot into what did you
• 1:07:32
  talk about up there? Cuz you're, you know, let's do a
• 1:07:35
  little recap of your speech. But before we do that, Pete
• 1:07:37
  Rizzo tweeted this morning, $83 billion Alaska sovereign wealth
• 1:07:41
  fund is exploring buying Bitcoin, quote saying we see
• 1:07:44
  where Bitcoin is going in five years.
• 1:07:48
  Let's see. It's the hopium.
• 1:07:49
  Always the hopium. Simply Bitcoin.
• 1:07:51
  Yeah. And this apparently is the
• 1:07:53
  Alaska Permanent Fund. So interesting developments.
• 1:07:58
  What you just got back, it seems like it might have made some,
• 1:08:01
  you know, some, some waves out there.
• 1:08:04
  So I guess the Alaska Bitcoin Conference has some pool here.
• 1:08:08
  There's some there's some gravitas at this conference.
• 1:08:10
  Anyways, Kent, you wanted to, you wanted to talk about, you
• 1:08:15
  know, recap your talk from Bitcoin Alaska.
• 1:08:17
  So for the people, you give them a tease because we are going to
• 1:08:21
  put it up on our channel. Just maybe give them a little
• 1:08:25
  TLDR. What was your speech about?
• 1:08:27
  Why should people be interested? And really, I think more so why
• 1:08:30
  are you interested in it? Why did you want to give this
• 1:08:33
  talk? Oh, so hey.
• 1:08:36
  I'm not going to lie, I, I, I am the CEO and founder of a mining
• 1:08:40
  as a service business, right? So finding access to low cost
• 1:08:44
  energy is part of my job. And, but there might be some
• 1:08:46
  opportunity there. The also just the, the ability
• 1:08:50
  to network and get to know more of the community.
• 1:08:52
  You know, we are a global product, so we have clients from
• 1:08:57
  all over the planet that are utilizing our data centers in
• 1:09:00
  Wisconsin, Paraguay, Norway right now, possibly Ethiopia in
• 1:09:04
  the future. We're doing some evaluation
• 1:09:06
  there. But at the end of the day, you
• 1:09:08
  know, I came there with a very specific, like intention to,
• 1:09:13
  I've had all these circulating ideas for a long time.
• 1:09:16
  And, and one of the, the thesis that I've developed is that
• 1:09:19
  there's not been many companies that if you know, back up a SEC,
• 1:09:23
  there was a massive split in the timeline that occurred and it's
• 1:09:27
  not been explored enough. I don't think our community has,
• 1:09:30
  because our community is largely from after the timeline split.
• 1:09:35
  So 2009 to 2012, if you were running Bitcoin software, you
• 1:09:39
  were mining, there is no separation to that experience.
• 1:09:42
  And that's why the early Bitcoiners all were miners and
• 1:09:45
  that's how they got the majority of their Bitcoin. 2012 is when
• 1:09:48
  Coinbase opened its door and that customer experience of of,
• 1:09:52
  of ease to go and buy it, it transformed everything.
• 1:09:55
  At least that's my thesis. Now maybe the node software
• 1:09:58
  split at that point in time, but regardless, the community split
• 1:10:01
  in two and there's miners in one side and there's users and devs
• 1:10:06
  on the other side of that split. And you can see this today.
• 1:10:09
  If you go to a mining conference, there's very few
• 1:10:11
  Bitcoiners there. If you go to a Bitcoin
• 1:10:13
  conference, there's very few miners there.
• 1:10:15
  Like these two worlds just don't collide very much.
• 1:10:18
  And that's led to some unintentional consequences,
• 1:10:21
  specifically because we've given up that aspect of the network to
• 1:10:26
  a large degree. It's now Fiat hashers that
• 1:10:29
  dominate the network. And you can see there's a
• 1:10:32
  publicly traded miners, they have a fiduciary responsibility
• 1:10:35
  to return dollars to their investors.
• 1:10:37
  So as a result, there's a misalignment of incentives and
• 1:10:40
  the mining centralization issues are all downstream of this.
• 1:10:43
  So these unintended consequences have ramifications.
• 1:10:47
  You could even say the upper turn debate that we've had over
• 1:10:49
  the last couple months is downstream of this, this split
• 1:10:52
  in the, the Bitcoin acquisition timeline.
• 1:10:55
  And so I went to Alaska to talk about this, to get it out there
• 1:11:00
  to, to breach the awareness and say, look, Bitcoiners must mine.
• 1:11:04
  And so I started the presentation by defining what a
• 1:11:07
  Bitcoiner is. And I think I've got a very
• 1:11:09
  simple definition. I wish the community would gel
• 1:11:12
  around this definition, but it's, it's, it's up for debate.
• 1:11:15
  And I know it is, but to me, a Bitcoiner as anybody that's
• 1:11:17
  decided to save Bitcoin instead of Fiat, save Bitcoin is, is the
• 1:11:21
  key. And when you do that, you shift
• 1:11:23
  something in your head because now you're thinking longer term
• 1:11:27
  and you're no longer is tied to the price volatility of the
• 1:11:30
  dollar and inflation. You just want to keep stacking
• 1:11:33
  more and more sats, right? And you quit kind of you start
• 1:11:36
  to get yourself off the hamster wheel that Fiat creates for us.
• 1:11:40
  So Bitcoiners what save Bitcoin instead of Fiat?
• 1:11:44
  Now talking about the reasons why Bitcoiners must mine, I just
• 1:11:48
  talked through kind of the moral reasons.
• 1:11:51
  It's the centralization aspects. It's misalignment of incentives
• 1:11:54
  because we've seeded the network and the block creation to people
• 1:11:58
  that are there using Bitcoin as a proxy to acquire dollars
• 1:12:03
  instead of their to acquire Bitcoin.
• 1:12:05
  But the simple truth is that Bitcoin mining is a zero to 1
• 1:12:09
  invention. It is the only way to generate
• 1:12:12
  new Bitcoin and it allows all of us to take a piece of the money
• 1:12:16
  printer and decentralize it. As long as we follow the rules
• 1:12:20
  of the Bitcoin network, anybody can participate in generating
• 1:12:24
  the money and that's radical. We talked about how radical it
• 1:12:27
  is to have decentralized money and unsensible transactions, and
• 1:12:31
  that's a zero to 1 innovation right there.
• 1:12:33
  But we're not talking about the zero to 1 innovation of all of
• 1:12:37
  us being able to have access to money creation itself.
• 1:12:41
  And so when we actually apply an economic lens to it, it's
• 1:12:45
  cheaper to mine on a daily basis than it is to buy.
• 1:12:48
  So you've got an economic reason to acquire sats through mining,
• 1:12:52
  because when you do that, you get more sats for your dollar. 2
• 1:12:56
  The moral reason, we've already talked about that a little bit.
• 1:12:59
  We're going to help to weed out the centralization issues and
• 1:13:02
  strengthen the social layer of the Bitcoin network because by
• 1:13:06
  strengthening the, the social layer of the Bitcoin network,
• 1:13:09
  nobody has more skin in the game than a Bitcoin miner.
• 1:13:12
  And I say that specifically because it's somebody that's
• 1:13:15
  looking to acquire Bitcoin instead of Fiat.
• 1:13:17
  I, I can tell you we've got a, we've got a wonderful and
• 1:13:20
  passionate community of clients and they're extremely passionate
• 1:13:24
  about Bitcoin because they're using mining as a tool to get
• 1:13:27
  their Bitcoin. The third reason is I think we
• 1:13:30
  have an economic driver or not, excuse me, not economic, a
• 1:13:33
  marketplace driver that's going to drive us to mining and sooner
• 1:13:38
  rather than later force us to earn instead of buy.
• 1:13:41
  What am I talking about? Global M2 right now stands at
• 1:13:45
  about $95 trillion. If you go look at the number of
• 1:13:50
  Bitcoin on exchange, it's something like 2.2 million,
• 1:13:53
  maybe 2.4 million. But regardless, if you price it
• 1:13:56
  at 110 K, that's under $300 billion worth of value.
• 1:14:00
  It's this big compared to something that's massive, right?
• 1:14:04
  In fact, so massive if you do the math 360,000 times as a
• 1:14:09
  massive. So how much of that capital, how
• 1:14:11
  much of that free floating Fiat needs to come into Bitcoin
• 1:14:16
  before it all disappears from exchanges?
• 1:14:18
  You know, we're going to hoard the good money and we're going
• 1:14:20
  to sell the bad. And as we hoard the good money,
• 1:14:23
  it's going to disappear off exchanges.
• 1:14:25
  And you can see this directionally, this is the first
• 1:14:27
  cycle where liquidity is drying up as the price is going up.
• 1:14:31
  And I think that continues. And so if you get to the point
• 1:14:34
  and you think that logically through where there's no Bitcoin
• 1:14:37
  to buy, well, guess what? You got to earn it.
• 1:14:40
  And if you're going to earn it, how are you going to earn it?
• 1:14:42
  Well, you might price your goods and services to try to tempt
• 1:14:45
  that Bitcoin out of the cupboards and, and, and, and out
• 1:14:48
  to purchase your goods and services.
• 1:14:50
  Or the easier way would be to mine it through a service like
• 1:14:54
  what we're creating here. It says mine.
• 1:14:56
  Yeah, perfect segue because I was going to ask you a question.
• 1:15:01
  You know, if you're hearing this pitch from Kent, you're probably
• 1:15:05
  going to ask yourself one or two things if if you're really, you
• 1:15:09
  know, a true believer here. And it's like, I want to get
• 1:15:12
  into mining Bitcoin. How can I do this?
• 1:15:15
  And is it too expensive? Because I had a lot of friends
• 1:15:18
  that, you know, in 2018, they they instead of stacking SAS,
• 1:15:23
  they went full mining and they didn't really consider all of
• 1:15:26
  the variables that came into place.
• 1:15:29
  And this is exactly what SAS mining kind of solved for.
• 1:15:32
  People as like, you don't have to overcomplicate this.
• 1:15:36
  Just go to SAS Mining and they will solve all the complications
• 1:15:40
  for you. So again, if someone's listening
• 1:15:43
  to this, how did they get into this?
• 1:15:44
  How is it the easy way to do this, Kent?
• 1:15:47
  And of course, it's a plug for SAS Mining, Yeah.
• 1:15:50
  Yeah, no, thank you for the opportunity to plug SAS mining.
• 1:15:53
  So here's the thing, I am competing with Coinbase.
• 1:15:57
  That's my competition. I want to make this as easy as
• 1:16:00
  it was for people to go to Coinbase because that's the
• 1:16:03
  problem and that's why we had the split in the timeline is it
• 1:16:06
  became easier to go to Coinbase than it was to go buy.
• 1:16:09
  So you come onto our website and just as you would expect to buy
• 1:16:14
  any product, you can put it in your shopping cart, right?
• 1:16:16
  So here's reviewers, you scroll up a little bit and you can see
• 1:16:19
  where you can shop. I think if you Scroll down, I
• 1:16:22
  don't know if you've got past the, the, the daily cost to mine
• 1:16:25
  a Bitcoin. So you can go see our calculator
• 1:16:27
  there and how we, how we, you know $50,000 the price of
• 1:16:32
  Bitcoin on exchange right now is 109.
• 1:16:34
  I think we just saw. So you know you're getting more
• 1:16:37
  SAT's for your dollar by mining it.
• 1:16:38
  Now this is the daily cost to mine a Bitcoin.
• 1:16:41
  It just looks at your electricity price divided by how
• 1:16:45
  many SAT's you get. Because that simple knowledge is
• 1:16:48
  not out there in the community right now.
• 1:16:51
  And you've got to buy your mining rig to get on the ride
• 1:16:54
  and you get to sell your mining rig when you get off the ride.
• 1:16:56
  Now, the price point at which you you get on and get off the
• 1:17:00
  ride, that's always changing. There's times where you can make
• 1:17:02
  money. There's times when you lose
• 1:17:04
  money on that. But just trying to get across
• 1:17:06
  the very simple daily cost of mine a Bitcoin, that's just
• 1:17:10
  electricity price divided how many sats you get.
• 1:17:13
  It's currently 50% off, more than 50% off the exchange price,
• 1:17:18
  right? Yeah, that's crazy bit of
• 1:17:20
  information is not well enough known in our industry and I want
• 1:17:24
  to get that out there so that the big finders understand it.
• 1:17:26
  So yeah, then you click and you can drill in, you get to shop
• 1:17:29
  the mining rigs that we have available.
• 1:17:32
  So that's where you can, if you want to talk to somebody, it's
• 1:17:34
  there. That's kind of the over over
• 1:17:37
  arching process there. You know how it goes.
• 1:17:41
  But in essence, you know you buy a mining rig from us.
• 1:17:43
  We have live mining rigs so we can get them deployed for you
• 1:17:46
  within a couple hours. But we also have more efficient
• 1:17:49
  mining rigs that we are ordering shipping, getting deployed.
• 1:17:53
  Those take three to four weeks to get deployed.
• 1:17:55
  But once you get get that purchase, you'll create an
• 1:17:59
  account. At the same time you log into
• 1:18:01
  your account, you say how you want to pay for your electricity
• 1:18:05
  each month. Most clients are using credit
• 1:18:07
  cards. We're very happy.
• 1:18:09
  We just established a relationship with Square.
• 1:18:12
  We're talking about that a little bit more.
• 1:18:15
  We got Apple Pay, Google Pay, Cash App.
• 1:18:18
  You can buy a Bitcoin for a discount.
• 1:18:20
  You know, we're trying to make this as easy as any sort of web
• 1:18:23
  2 experience to remove the friction so that ultimately,
• 1:18:27
  yes, you're going to pay your money.
• 1:18:28
  Yes, you're going to pay your your electricity.
• 1:18:31
  Those are costs. We make no money there.
• 1:18:33
  What we do instead is we align our interests with yours to make
• 1:18:36
  sure we have you running and as a effective as possible.
• 1:18:39
  So our management fee, because that's what we are as a property
• 1:18:42
  management company, I've got possession of something that you
• 1:18:45
  own and I've got that. And so if I'm going to do right
• 1:18:49
  by you, it's to make it produce as much Bitcoin as it can.
• 1:18:53
  So for us, our management fee for the service is 15% of the
• 1:18:57
  Bitcoin that are generated and that's paid out when the pool
• 1:19:00
  pays. So what that means is just 15%
• 1:19:03
  goes to our wallet, 85% goes to you.
• 1:19:05
  These are wild sets generated directly off the network, right?
• 1:19:08
  And so that means that you are getting your SAT outside of the
• 1:19:12
  banking system. You're just absolutely working
• 1:19:14
  around it. I think people need to get this
• 1:19:16
  through their heads like mining is a zero to 1 innovation.
• 1:19:20
  You are generating Bitcoin. This is the only way you can
• 1:19:23
  generate Bitcoin on the planet. And that means by definition,
• 1:19:26
  you are outside of the banking system and you are owning a
• 1:19:30
  piece of the money printer of the future.
• 1:19:31
  So we talked about those tectonic plates, right?
• 1:19:34
  Like everything is sort of liquefying and changing right
• 1:19:36
  now and money is starting to feel money out there in the in
• 1:19:40
  the in the in the economy. But Bitcoin is this place of
• 1:19:43
  certainty. And you can participate in that
• 1:19:46
  today and do it in a way that doesn't involve the old system
• 1:19:51
  at all. You can just, you know, just
• 1:19:52
  like Buckminster Fuller's talks about is like, hey, don't fight
• 1:19:55
  the existing system. Just adopt the new one and
• 1:19:58
  you're going to have a better life.
• 1:19:59
  And I think that's what we're demonstrating here to your point
• 1:20:02
  is, you know, we'll just lead by example.
• 1:20:04
  And I think Bitcoiners are the future.
• 1:20:06
  Yeah, no, that's incredible. And actually I I do kind of want
• 1:20:10
  to stress the fact that you can do this with a credit card.
• 1:20:13
  I know you guys are are Bitcoin Maxis, you're like F the Fiat
• 1:20:17
  system. But I'm I'm having a hard time
• 1:20:20
  right now trying to remember anywhere period that you can buy
• 1:20:26
  Bitcoin with a credit card. All my friends, yeah, let's not
• 1:20:30
  talk about it. All my friends that their
• 1:20:32
  biggest regret was 2018 spending a whole lot of Bitcoin to buy
• 1:20:39
  miners at a really expensive price.
• 1:20:41
  And they're just like, dude, I'm never going to recoup that
• 1:20:45
  Bitcoin ever. And I think Ken, you, you
• 1:20:49
  haven't said that on the show. So I'm guessing that's a new
• 1:20:51
  development and that's a pretty easy sell as far as I'm
• 1:20:56
  concerned. I mean, I I'm literally, I can't
• 1:20:58
  get approved for credit cards guys.
• 1:20:59
  Like that's how good of a bitcoiner I am.
• 1:21:01
  But you know, if you still have a credit card, then I don't
• 1:21:05
  know. Something to consider.
• 1:21:07
  Yeah, no, it, it hasn't been something that I've pushed
• 1:21:09
  because it's taken a lot of work to to get a relationship
• 1:21:13
  established with Square. We're really proud of that and
• 1:21:17
  we now can literally accept it. We did have credit cards we
• 1:21:21
  could accept before, but there were limits to that.
• 1:21:23
  And it just was, that was horrible during Operation Choke
• 1:21:26
  point 2.0, managing that. But at the end of the day, I
• 1:21:30
  knew once we were in the in the market.
• 1:21:32
  So we started January 2023 being operational and it was within a
• 1:21:37
  few months. I was like, we have to figure
• 1:21:38
  out credit cards and it's not. I mean, it's taken 2 years to
• 1:21:41
  get to the point. We have a great solution in
• 1:21:43
  place. But at the end of the day,
• 1:21:45
  people are cycling Fiat into a Bitcoin position.
• 1:21:48
  And one of the best ways that people want to cycle their Fiat
• 1:21:51
  is through credit cards. And so hey, I'm a, I'm a
• 1:21:54
  Bitcoin, I'm Bitcoin or through and through.
• 1:21:56
  I save as much Bitcoin as I possibly can.
• 1:21:58
  But at the end of the day, I'm also listening to the market and
• 1:22:01
  the market wants to use credit cards to pay for their the rigs
• 1:22:05
  and to pay for the electricity. And good on them.
• 1:22:08
  You know, if you're a good management manager of capital,
• 1:22:12
  you're paying off your credit card every month anyway.
• 1:22:14
  Why not get an extra 630 days of price appreciation on the
• 1:22:18
  Bitcoin if you mine right? So it makes sense to me.
• 1:22:20
  But yeah, we've got we've got it set up.
• 1:22:22
  So yeah, if you if you like using Apple Pay online, we got
• 1:22:25
  you. Yeah.
• 1:22:26
  And also, this is not financial advice, guys, You know, don't,
• 1:22:29
  don't come to me later, you know, be smart.
• 1:22:32
  Don't be like me, you know, don't, don't debt Max here.
• 1:22:35
  But hey, be smart about it. But Kent, there was a good
• 1:22:38
  question in here. Jonathan asked are there
• 1:22:42
  discounts if someone wants to run multiple rigs like 20?
• 1:22:46
  Yeah. We do do custom quotes.
• 1:22:48
  So anything under 20 rigs is it's hard to justify any sort of
• 1:22:52
  savings, but we do cost pass through and unfortunately some
• 1:22:55
  of those costs don't totally scale.
• 1:22:56
  So at 20, we say, hey, reach out to us, there's a link on our
• 1:23:00
  purchase page where we'll get you a custom quote for it and
• 1:23:03
  talk to you. Generally that turns into more
• 1:23:05
  of a conversation. But in general, depending how
• 1:23:08
  you pay, we can work some discounts into that, into the
• 1:23:10
  quote. Because as you can imagine,
• 1:23:12
  that's why we have a big discount when we accept Bitcoin
• 1:23:15
  or Lightning is because we do get charged quite a bit for
• 1:23:18
  taking credit cards. So we can pass on some some
• 1:23:21
  greater savings if you're looking at a quote for more than
• 1:23:23
  20 money rigs. Yeah, it's almost like there's
• 1:23:25
  less friction with Bitcoin than good to go.
• 1:23:27
  I mean, I don't know, I, I, I got a bias here, but, you know,
• 1:23:31
  maybe, maybe maybe this is something we're seeing play out.
• 1:23:35
  Well, anyways, Kent, thank you so much.
• 1:23:37
  And you guys give us some time. We're going to edit Kent's talk
• 1:23:41
  that will be on the Simply Bitcoin channel if you are more
• 1:23:45
  interested in this. But Kent, last word.
• 1:23:48
  What's the final message you want to leave with the audience
• 1:23:50
  before we wrap up today's show? Yeah, final words.
• 1:23:57
  Just save Bitcoin, people. Save Bitcoin.
• 1:23:59
  Keep your head down. All we have to do is is give
• 1:24:02
  ourselves time and space for adoption to occur.
• 1:24:05
  And I'm convinced that we're breathing a new reality into
• 1:24:08
  existence. Bitcoiners are the first, the
• 1:24:11
  first folks to get grounded since we decided to separate our
• 1:24:17
  money from the laws of physics with the Nixon shock in 1970.
• 1:24:21
  And as we get grounded, we're going to be the people that wind
• 1:24:24
  up leading the way for the rest of the population.
• 1:24:26
  So I know, I know the, the mainstream is considering us to
• 1:24:29
  be the outcast, but don't worry, that's, that's what leadership
• 1:24:33
  looks like. And, and, and you guys are the
• 1:24:34
  leaders of the future. Bars, absolute bars.
• 1:24:39
  Well, Kent, thank you so much. As you guys know, Kent becoming
• 1:24:42
  our leading mining expert on the show.
• 1:24:45
  So if you like what he said, he'll be on.
• 1:24:47
  I don't know when, but basically next month we'll have another
• 1:24:51
  mining. Actually, Kent, remember the
• 1:24:52
  last time we were on, did anyone did anyone reach out to with
• 1:24:58
  questions? We completely blanked on that
• 1:25:01
  today until right now. Didn't we have like an e-mail
• 1:25:04
  set up if they have questions, what are we going to do like a
• 1:25:06
  reoccurring guides? All right, if you have questions
• 1:25:09
  on mining Kent, what's your e-mail?
• 1:25:13
  Say it one more time and guys, we'll we'll kind of go through
• 1:25:16
  those. No one emailed you.
• 1:25:18
  So apparently there's no questions.
• 1:25:19
  But if you do have questions, you can talk to Kent directly.
• 1:25:23
  Yeah, I, I, I vaguely, I vaguely recall we were going to do some
• 1:25:26
  question answering. But yeah, no one question
• 1:25:28
  though, we we always do this and no one says anything.
• 1:25:32
  So, yeah, but the best place to reach me is on Twitter, folks at
• 1:25:35
  K Halliburton. But my DMS are open.
• 1:25:38
  Hit me there with any questions you have.
• 1:25:40
  I'll gather those. We'll make sure to funnel them
• 1:25:42
  into the next time. Here to be the mining expert for
• 1:25:45
  you guys. But yeah, happy to answer any
• 1:25:47
  and all questions. There's a lot around mining, but
• 1:25:49
  at the end of the day, it's been over complicated.
• 1:25:52
  The main reason it's been over complicated is because people
• 1:25:55
  are trying to get both sats and Fiat, and you can't do that.
• 1:25:58
  You just have to make the choice that this is for Bitcoin.
• 1:26:00
  And once you do that, everything, I think it's easier.
• 1:26:03
  So that's my framing and where I go.
• 1:26:05
  With the it's almost, it's almost a life hack, Ken, just
• 1:26:08
  thinking Bitcoin, your life gets so much easier.
• 1:26:11
  Just simplify it, guys. Just simplify it.
• 1:26:14
  All right, Ken, thank you so much for coming on today.
• 1:26:16
  Hang out behind the show real quick because I do want to give
• 1:26:18
  Sophie some praise. Guys, shouts out to the
• 1:26:21
  beautiful, wonderful Internet. Sophie, Nico's better half.
• 1:26:25
  He literally got mad at me for saying that this morning.
• 1:26:28
  He doesn't even know what that means.
• 1:26:30
  He's like, what do you mean better half?
• 1:26:31
  Sophie, we, we threw you to the fire.
• 1:26:33
  You did your first hook, guys. Sophie, we're going to we're
• 1:26:37
  going to put Sophie to work this week.
• 1:26:39
  So you're going to see more of Sophie.
• 1:26:41
  But Sophie, you killed it. Thank you so much.
• 1:26:43
  Thank you guys. Thank you guys for having me and
• 1:26:45
  not throwing tomatoes in the chat.
• 1:26:47
  Well, they they, they threw tomatoes for sure.
• 1:26:49
  No, they didn't say anything. To keep being funny.
• 1:26:51
  Actually, if they throw tomatoes, that's probably a good
• 1:26:54
  sign because it means that I'm saying something important.
• 1:26:56
  So it means they like you. All right, guys.
• 1:26:59
  Well, you ought to know the deal.
• 1:27:00
  We go live roughly 12:15 Monday through Friday.
• 1:27:06
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• 1:27:09
  Rumble channel. We drop the best content.
• 1:27:12
  We drop the most content. This is what we do, guys.
• 1:27:15
  So we'll see you tomorrow. We will be back for another
• 1:27:18
  episode of Simply Bitcoin Live. Peace out guys.
• 1:27:24
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• 1:27:27
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• 1:27:30
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