Latest / Simply Bitcoin / NEW ASSET SEIZURE LAWS are SPREADING To The Rest of The World! | EP 1441

Transcript

NEW ASSET SEIZURE LAWS are SPREADING To The Rest of The World! | EP 1441 · Simply Bitcoin

• 0:01
  A new law is about to pass in Europe that gives the government
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  the power to take 36% of your money every year even if you
• 0:10
  don't sell your assets. As it's insane as this sound,
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  let's not forget we got proof that this could be spreading to
• 0:19
  the world, even in America. I'm not making this up.
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  So let me try to explain how this insane new law now makes it
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  impossible for you to have savings or even build wealth
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  guys. It it is absolutely we're we're
• 0:35
  in Pete clown world at this point.
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  So let me break this down for you guys.
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  If you aren't aware of what's going on, well, in the
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  Netherlands, which is a part of the EU, and we've heard
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  essentially what Christine Lagarde's been saying for a long
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  time, they've been trying to tax everything.
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  They're trying to stop the creation of wealth.
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  They want to tax the rich, tax the billionaires because they
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  think that is what's going to save them.
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  Well, Dutch lawmakers, here's from Yahoo.
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  Dutch lawmakers advanced 36% capital gains tax on crypto.
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  You heard that right, The Netherlands wants to tax 36% of
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  your paper gains on your Bitcoin.
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  And I will break down kind of the mechanics of this and how
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  in, in my opinion, is this just might be the dumbest law ever.
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  If they think this is going to save them, it's going to in fact
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  do the opposite. We actually have some, I don't
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  know, pilot programs like this that we've seen play out in
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  Europe, not necessarily in the EU.
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  And it does the exact opposite of what they think it's going to
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  do. So let me, you know, break down
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  this article real quick and then I got a lot of good tweets for
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  you guys. So critics warned the proposal
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  could trigger investor relocation and capital outflows,
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  which in fact, it's not just critics.
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  That's exactly what it will do. So lawmakers in the Netherlands
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  have taken a major step towards reshaping how digital assets are
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  taxed. The country's House of
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  Representatives voted Thursday last Thursday to advance
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  legislation introducing a 36% capital gains tax on savings and
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  most liquid investments, including cryptocurrencies.
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  Again, this isn't just a tax if you sell.
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  This isn't long term capital gains.
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  This is essentially an unrealized capital gains tax.
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  So if you're holding something and it goes up in price, even if
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  you don't sell it, you still are liable to pay tax on top of it
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  if this doesn't. If this makes if you think this
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  is a good idea, it's really not. Anyways, the proposal cleared
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  the chamber comfortably receiving 93 votes, well above
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  the 75 required to move forward according to the official tally.
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  Now this isn't fully approved yet.
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  It has to have one final approval.
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  And then this is actually law in the Netherlands.
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  And a lot of bitcoiners are, you know, crypto advocates on
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  Twitter came out and and they're showing this.
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  This is really going to hurt the country way more than what the
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  proposed benefits are going to be.
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  Again, if adopted, the measure would apply broadly.
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  Bank savings, crypto holdings, most equities and returns
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  generated from interest bearing instruments would all fund fall
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  under the levy. So this isn't just a crypto tax.
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  It's basically a broad unrealized capital gains tax.
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  It's insane. It's absolutely insane.
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  Notably, the tax would be assessed regardless of whether
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  investors actually sell their assets, meaning again, it's an
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  unrealized gains tax. That's that's what it is.
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  Maybe they're not necessarily calling that that that's what
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  what this is. So it still needs to be approved
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  and, and if it does get approved, the implementation
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  year will be 2028. Let's hope that there's, you
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  know, what's the saying, let's hope that they snatch defeat
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  from the jaws of victory or what rather, maybe they snatch
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  victory from the jaws of defeat because this is, this is just
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  bad. This is just bad news all
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  together. Now, I know our audience is
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  super American based. We are Americans, we're American
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  focused, but it's really the precedent as we've been covering
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  for a long time. Usually you can look at what
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  happens in the in the European Union, in the EUI know, I know
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  there's a divide right now. I know there is kind of a war
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  going on between the United States and the European Union.
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  We've heard what Christine Lagarde's been saying.
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  But historically Europe has been a test bed for a lot of ideas
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  that they do want to spread across the world.
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  This is why our friend Tom Luongo usually says that if you
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  look at what happens in Europe, you can really kind of attribute
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  this to this idea, this label of the Davos crowd or the World
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  Economic Forum crowd. And they use it as as a test bed
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  to implement these ideas. And if they are quote UN quote
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  successful, then they have somewhere to point and be like,
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  look, this is good for all countries.
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  Maybe all Western countries need to follow suit, do the same
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  thing because look how good this is for us.
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  Now let's get into some of the math here again, a lot of people
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  actually, we're going to start with a meme.
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  We're we're going to basically start with a troll.
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  Here he goes. This is X freeze.
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  He goes be me, a Dutch investor. Netherlands approved a 36%
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  unrealized gains tax. WTF does that even mean?
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  So here is in practice how this will play out and this will
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  really illustrate just how bad of an idea this is.
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  And really a lot of wealth is going to most likely leave
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  Netherlands. Now if the rest of the EU
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  follows suit, then we'll see a lot of capital flight leave
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  Europe. So here he goes.
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  He goes put $1000 into stocks. Year one your stock goes to
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  $2000. The government, you made $1000
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  so pay $360.00 cash. My feeling when I didn't sell
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  anything. So I'm forced to sell shares to
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  pay this $360.00 tax. This 36% tax.
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  Everyone else is forced to sell too.
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  This causes panic selling. Mass panic selling stock crashes
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  to $880 and now I have $440.00 left after paying tax.
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  Year 2 the stock recovers at $1200.
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  The government says you made $40.
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  Now pay $144 again. Another for selling happens,
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  price drops to $900. I have $756 left.
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  Year three, similar stock at $1000.
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  You made $100, pay $36. Smart money has finally left the
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  Netherlands and I have $964 in stocks.
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  My feeling when I paid 400 five $140 in taxes.
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  My feeling when stock is back to where it started.
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  A 0% gain. My feeling when I only have
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  $460.00 left, the TLDR, the short of it, I lost 54% on a
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  stock that broke even. The government made more money
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  off my investor than I did. Thanks.
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  And the government just says, thanks man, thank, thanks for
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  half of all the money that you kind of had.
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  And, and of course, here's, here's, here's a little meme.
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  You know, the, the Pepe frog crying in the Netherlands.
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  And of course, it's it's talking about the House of
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  Representatives approving this 36% unrealized capital gains
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  tax. It really makes no sense.
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  Now, the kind of cultural angle of this is they're saying, hey,
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  we need to tax the rich. The rich need to pay their fair
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  share. When in reality, you look at
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  usually the numbers of who actually pays the most tax and
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  it is in fact the extremely wealthy.
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  Yes, they have tax benefits. Yes, they have lawyers and yes,
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  they can do tax loopholes, but still the billionaires, the rich
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  people pay the majority of the taxes, even if even with all the
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  loopholes, because they have more money.
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  Most of the money comes from them.
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  OK, so as you can see, this is a dumb idea.
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  I don't know how they think this is a good idea.
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  I don't know what they're thinking.
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  Actually, I do know what they're thinking.
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  They have a very collectivist ideology.
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  Tax the rich. The rich are stealing from us.
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  The oppressed are never going to get up in life, but in reality
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  and practice, this basically means there will be no social
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  mobility. You you will never be able to
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  get from a lower class or a middle class to an upper class
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  because you're never going to be able to save.
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  Well, if you are holding something and as we know they're
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  going to print a lot of money, this is what's going to happen.
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  Your purchasing power in Fiat currencies will get debased, so
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  you can't hold dollars to get rich.
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  There's no way of saving your way out of this if you're
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  holding Fiat currencies. The only way to win or to really
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  play the game, as we've been covering for years now, is you
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  need to buy assets. Well, if you're having an
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  unrealized cap, yeah, unrealized game tax on your assets, you
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  can't build wealth. It really will destroy the
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  Netherlands. So let's see if they wake up a
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  little bit here. And here we got Max Kaiser, we
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  got Neo feudalism. It's like they they don't want
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  you to build wealth. It's absolutely crazy.
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  Now we have another Dutch investor or, you know, another
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  person that is Dutch in the Netherlands, and they're going
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  further. You know, they're breaking this
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  down, but this is where it gets interesting.
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  I know a lot of people. I actually saw one comment in
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  the chats like, hey, good thing this is in Europe and not in the
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  United States. Well, this is where it does
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  probably get a little more scary, a little more nefarious,
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  where this isn't going to be an isolated event.
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  Yes, it is in the Netherlands. Yes, they will gloriously fail
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  doing this. But this will be used, as we've
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  seen in the past, as an example of, oh, this is what we need to
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  do everywhere else. And of course, he says it pretty
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  good here, right here. Wait, where was it?
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  Or am I thinking of a different tweet?
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  I might be thinking of a different tweet.
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  Yeah. Anyways, so he breaks this down.
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  I was. I was thinking of a different
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  tweet. Oh, it's this one.
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  It was this one. OK.
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  So Akash Gupta, he does the same thing, you know, breaks this
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  down, shows you what the unrealized capital gains tax is
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  going to be. But this is where it gets
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  interesting because this matters for the US because unrealized
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  gains taxation keeps resurfing, resurfacing in American policy
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  proposals. California has a wealth tax
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  ballot initiative that's already triggered an estimated $2
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  trillion in capital flight. The Biden administration
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  proposed post taxing unrealized gains above 100 million.
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  The Netherlands is about to become the first country to
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  broadly implement one at scale. France spent 20 years proving
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  this model fails. The Netherlands is about to
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  rerun the experiment at 36%. And we do have other examples of
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  this happening in Europe not that long ago.
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  Guys, this is an idea that people float around that this is
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  a good thing. And if you kind of think about
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  where we are politically, oh, sorry, I didn't pull it up, If
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  you think of where we are politically right now, you know,
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  the Trump administration, the Republicans are losing a lot of
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  favor. The Democrats get back in.
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  I've, I've heard rumors that they might run Kamala Harris and
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  AOC as president and vice president.
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  And we know some of the policies of that.
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  AOC is champion. We know what Kamala Harris is
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  kind of about. So this isn't going to be an
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  isolated event. Yes, I don't think it will
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  necessarily spread everywhere, but it will be used as a
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  precedent. Now here's Peter Todd and he
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  goes force quote. The Netherlands had a €2.3
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  billion budget hole. Their 2026 budget was planning
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  on spending €7 billion on refugees, not including Ukraine,
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  plus 10s of billions more in indirect costs.
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  It's trivial to fix this by closing the borders to the worst
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  people in the world. Now you know Peter Todd has his
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  own political views here. I don't necessarily agree with
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  them, but again, if you really get into the details here,
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  they're, they're basically like the, the real fix is probably
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  for them. close your borders and not tax the rich unrealized cap
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  gains or unrealized gains tax. In reality, they're like, we're
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  just going to tax the billionaires that they'll
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  they'll get us out of this hole. I don't think they understand
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  how economics works, especially in a world now that is more
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  mobile that you can have a money that isn't stuck in one
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  jurisdiction. A lot of people are still
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  working on old paradigms of how the world works.
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  Now going further, as I was saying, there is a semi current
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  example of this playing out. Two years ago Norway tried to do
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  the same thing. Now Norway isn't in the EU, but
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  they are a European country, they are a European adjacent
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  country and they tried to do something similar at a very
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  small scale and it completely backfired.
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  So we don't have to look into the past to or that far past to
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  really understand how this is going to play out again.
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  It just needs one final approval.
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  If this goes through in the Netherlands, there's going to be
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  capital flight. Here is from the Guardian.
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  It goes super rich abandoning Norway at record rate as wealth
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  tack rises slightly. How about that framing?
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  Unrealized gains tax rises slightly, don't worry.
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  But it's not even that big of 1. In fact, though a lot of people
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  left, flood moving abroad has come as a shock and is costing
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  10s of millions in lost tax receipts.
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  Now here's a good example of what exactly happened.
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  So Norway wealth tax increase was expected to raise
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  $146,000,000 and in fact it led to a $448 million net loss as
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  $54 billion in wealth left the country, reducing the tax
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  revenue by 5, $594 million. It's actually incredible how
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  some collectivists, left-leaning politicians, progressive
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  ideologies around, you know, economics and taxation, it
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  really is staggering how they don't look at reality, how they
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  completely ignore reality. Again, they thought it was going
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  to end. This is exactly what the
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  Netherlands are thinking. This is exactly what the Dutch
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  are thinking. It's like, hey, we need some
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  money. What if we do an unrealized tax
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  gains? We tax all the billionaires.
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  We, you know, we tax all the wealthy people.
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  This is how we can make make up this deficit in in our balance
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  sheet. In fact, it's most likely going
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  to push the extremely wealthy out of the country, but really
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  it's going to hurt the very people that they expect to help,
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  which is the lower and middle class.
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  If you are in an average job or an average position, you're
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  literally not going to be able to build wealth.
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  And we have a pretty good chart here to show exactly how this
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  works out. This is the destruction of long
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  term investing implication of the new Dutch capital tax.
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  Current tax is 3.3 million, the new tax is 1.9 million.
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  Assuming 10% gross annual returns, $10,000 starting
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  capital and investing $1000 every month.
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  You're you're going to be cooked.
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  You're literally losing half of your gains.
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  So do they like economics? Do they ignore economics?
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  Well, it doesn't really matter as long as the narrative is,
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  hey, we are going to tax the billionaires, we're going to tax
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  the rich, and the people go along with it.
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  If the people think this is the way for them to get out of their
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  destitute, poverty, or even just a middle class situation, then
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  they're most likely going to do that.
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  Now I did start this by telling you this isn't just happening in
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  Europe. I have been very vocal about
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  this on the show constantly. Like, I am so glad that I'm an
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  American because I don't have to deal with the crazy economic
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  policies of Europe. Well, it's not just happening in
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  Europe. This isn't an isolated event to
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  the EU. We are hearing these
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  conversations in America. And like I said, there is rumors
• 16:29
  that the 2028 Democrat ticket is going to be Kamala Harris in
• 16:35
  AOC. So let's hear what AOC just said
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  last week. Sounds eerily familiar to what
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  we're seeing the Dutch do. So when you run for president,
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  are you going to impose a wealth tax or a billionaires tax?
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  I don't think that I I don't think that anyone and that we
• 16:59
  don't have to wait for anyone president to impose a wealth
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  tax. I think that it needs to be done
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  expeditiously. And interestingly, when I wrote
• 17:07
  about wealth tax recently, and of course the big argument
• 17:09
  against this is always capital flight, the US is actually
• 17:12
  uniquely placed to do it because you guys tax on the basis of
• 17:14
  citizenship. So people can't flee, you know,
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  and even if you change your citizenship, there's basically
• 17:20
  an exit tax because you have to pay a tax on unrealised capital
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  gains. The Glee in their voice is
• 17:26
  absolutely insane. I was talking with Luke this
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  morning. He's like, man, the the absolute
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  evil of these people. And I'm like, they're just dumb.
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  And he's like, what's we were arguing?
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  Like what's the difference? Are they evil or do they not
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  know how this works? And I'm like, I was trying to
• 17:42
  make the case like being dumb is could be just as evil.
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  They just they, you know, maybe I'm being a little giving them a
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  little leeway of they don't know what they're doing, but I do in
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  fact think that they do know what they're doing.
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  They literally want to steal your wealth.
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  This is asset forfeiture. This is asset confiscation just
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  in a quote, you know, sly roundabout way.
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  They're talking about this constantly.
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  Now, I do have one other clip here that just happened from
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  it's called. I don't, I don't know what
• 18:12
  patriotic millionaires is, but this was a lady speaking at the
• 18:16
  IMF and, and let's listen to what she says.
• 18:20
  Actually, guys, I, I didn't upload this because I want you
• 18:22
  guys to see the, the whole thing.
• 18:23
  So let me know if you hear this, but you're starting to hear a
• 18:27
  lot of similar conversations. And they don't have funny
• 18:30
  European accents. They have actually American
• 18:32
  accents. So you're seeing that this idea,
• 18:35
  this narrative, this very bad economic policy is spreading
• 18:40
  around the world as we start to, for better, for better or worse,
• 18:46
  see that the American empire is struggling.
• 18:50
  I don't know if you caught guys, caught the Ray Dalio article
• 18:54
  over the weekend, but he quoted one of his channels or sorry,
• 18:57
  one of his chapters from his recent book.
• 18:59
  And he basically said the international rules based order
• 19:03
  has crumbled. And he basically was saying,
• 19:06
  when we are in this stage 6 decline of an empire, usually
• 19:11
  the pendulum swings more to a populist movement, whether
• 19:15
  that's left or right. We're seeing a lot of these
• 19:18
  conversations happen in the US. And here is, again, someone,
• 19:23
  this lady speaking, they're called patriotic millionaires.
• 19:26
  I don't know exactly what that is, but they're speaking at the
• 19:29
  IMF now. Let's listen to what she's
• 19:31
  saying. We actually have a beautiful
• 19:34
  opportunity in front of us with the United States being such an
• 19:39
  unmitigated disaster as it currently is.
• 19:42
  OK, so there is the opportunity and within that opportunity, I
• 19:47
  would suggest three things. The first one, we have to have a
• 19:52
  global asset registry. We have to know who has the
• 19:55
  freaking money, and if they don't want you to know that they
• 19:58
  have the money or how much money they have, chances are they got
• 20:02
  it from somewhere they shouldn't have gotten it from and they're
• 20:03
  spending it on something they should be spending it over.
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  So #1A global asset registry #2 we have to facilitate an
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  international conversation about what is enough and that if there
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  is a number, that is enough. There is a number that is too
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  much. We believe that money becomes
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  power. And when power threatens your
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  democracy, you have to take away power.
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  And the only way to take away that power is by taking away the
• 20:31
  money. And the only way to take away
• 20:33
  the money is taxation. So #3 forgive progressivity, all
• 20:40
  right. Forgive progressivity.
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  Unless by progressivity you mean taxation that makes people less
• 20:49
  rich. This is not about a 2% wealth
• 20:52
  tax when somebody's getting a higher return than that.
• 20:56
  This is about taxation in order to preserve human freedom, to
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  preserve the. Absolutely nuts.
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  How about that last part? This?
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  Like the mask is off now, right? She did try to at the very end,
• 21:14
  cover up this idea with like, we're here to preserve humanity,
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  preserve the the planet. But the part before it, she's
• 21:20
  like, this isn't about taxation for you to pay your fair share.
• 21:24
  She's like, this is about taxation to make you less rich.
• 21:28
  At least they're finally saying the quiet parts out loud.
• 21:30
  Now to recap, what does she say? First, we need a global asset
• 21:35
  registry. Everyone on planet Earth need.
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  We need to know exactly what they hold.
• 21:40
  Second, we need to tax you. And 3rd, we got to have some
• 21:45
  conversation globally, internationally and say, hey,
• 21:49
  after this number, that is too much money and you shouldn't be
• 21:52
  able to make that much money. It's absolutely insane what's
• 21:55
  going on. Like, how do these people think
• 21:58
  that this makes sense? Or rather, how do the people
• 22:00
  listening to her think that this makes sense?
• 22:03
  But as you can see, this is exactly what the Netherlands are
• 22:08
  doing. They're going to tag and bag
• 22:11
  everyone's assets, not just Bitcoin, but all your assets.
• 22:15
  They will do a yearly unrealized capital gains tax on it.
• 22:21
  You got to pay your fair share because you're getting richer
• 22:24
  and you got to help all these new people coming to your
• 22:26
  country or all these poor people in your country.
• 22:28
  And it's like, whoa. So they are very clearly saying,
• 22:34
  hey, you don't have any right to build wealth because you're a
• 22:39
  bad guy. Wanting wealth is bad.
• 22:41
  Whereas from our perspective, we take the opposite view.
• 22:46
  They think that they can tax their way out of their problems.
• 22:49
  Like, hey, our you know, our ideology is correct.
• 22:55
  It's just the economic policies that are wrong.
• 22:57
  That's the only thing that's wrong here.
• 22:59
  And if we just did more to take from you, then we could all live
• 23:03
  Better Together. From a bit corners perspective,
• 23:06
  we we think completely different.
• 23:08
  First of all, property rights. Second of all, a store of value
• 23:11
  that they can't devalue, that they can't steal from you.
• 23:15
  And third of all, obviously personal sovereignty where in
• 23:18
  this. So you can break that down to
• 23:20
  what you know, individualism, capitalism and to some extent, I
• 23:29
  guess democracy. From their view, it's like
• 23:33
  autocratic collectivist and no capitalism at all.
• 23:41
  Just just take everything you got like, hey, if you want to
• 23:43
  work more, cool, but you got to pay your fair share.
• 23:47
  It's like, how is this where we are in 2026?
• 23:51
  You think people would get smarter?
• 23:53
  This has been tried multiple times around history.
• 23:56
  It always ends in failure and they just continue to double
• 24:00
  down on it. Never do they look at their
• 24:02
  ideology and realize that they're wrong, that they're,
• 24:05
  they have fundamental broken first principles.
• 24:10
  They're always like, no, we just, we, we just didn't do it
• 24:12
  correctly. You know, if the 1.1% tax didn't
• 24:15
  work in Norway, well, maybe we just need to tax them more.
• 24:18
  We just got to tax them 36% and then we'll get to, hey, maybe we
• 24:22
  got to tax them 50% and then we'll get to, hey, you don't
• 24:25
  even deserve to own assets. All of your assets are now the
• 24:28
  state's assets. And we can, you know, centrally
• 24:31
  plan everything better. It's like, what in the world is
• 24:35
  going on? Like I, I'm surprised that
• 24:37
  people are actually out here saying this stuff.
• 24:39
  We've seen this play out in the past and it never works.
• 24:43
  Though I guess 1 silver lining of this is as these unrealized
• 24:48
  capital gains tax conversations happen and more people realize
• 24:52
  that, wait, these might actually get passed into law and they
• 24:56
  understand the ramifications of, wow, I will literally never be
• 25:00
  able to build wealth again. I'm just, I'm either going to be
• 25:03
  the, you know, middle class forever rather, and that's not,
• 25:06
  that's not even how it work out. I'm either going to start at
• 25:10
  middle class and end up to lower class or I am lower class and
• 25:14
  I'm never going to get up out of my position.
• 25:16
  The incentives are all broken. But as these conversations
• 25:20
  happen, obviously people with the means will find ways to
• 25:23
  avoid them. They will take their capital,
• 25:25
  they will put it in an asset that they can't steal.
• 25:28
  They will take their, their, their capital, all of their
• 25:30
  savings and put it in an asset that's a lot more mobile that
• 25:33
  they hit tax, which is obviously from our opinion, Bitcoin.
• 25:37
  It's absolutely a nuts. But maybe through all of this,
• 25:42
  people start to see the light that hey, this, this is
• 25:45
  absolutely insane. Like what, what are we doing
• 25:48
  here? And the fact that this is
• 25:51
  happening right now and people are saying these things like
• 25:55
  with with serious, you know, with just any ounce of
• 25:59
  seriousness just makes you, makes you kind of go into that
• 26:04
  idea of you may not care about politics, but politics cares
• 26:07
  about you. Or the other Plato one where
• 26:10
  it's like you may not care about politics, but by you not caring
• 26:14
  about politics, that means an inferior person will rule over
• 26:17
  you. We're we're getting to a point
• 26:19
  where something will hit the fans.
• 26:21
  Something will have to break. And I, I, that's why I've kind
• 26:25
  of been saying for the last couple of weeks and, and I have
• 26:27
  actually, you know, I, I've been going back and forth on this
• 26:30
  idea. But it makes me think that a lot
• 26:34
  of us, especially in the Bitcoin community, are doing ourselves
• 26:39
  and our friends and family a disservice by having this ideas
• 26:42
  like, oh, I just want to have a farm opt out, you know, not care
• 26:45
  about society. Let it burn to the ground and
• 26:48
  I'll be good. In my farm over here, it's like
• 26:51
  I'm an acceleration. I'm an accelerationist myself.
• 26:55
  But if you are in a position where you can get involved,
• 27:01
  where you can run for, I don't know, local, city, state,
• 27:05
  governmental positions or get into certain institutions and
• 27:10
  you know, you will win. I think us Bitcoiners do need to
• 27:14
  have a little more fire in US and be like, I am going to get
• 27:18
  involved. Now, obviously me, I'm, I'm a
• 27:21
  talking head. So yes, maybe I'm chastising
• 27:24
  everyone. I think this is the only role I
• 27:27
  can do is just talking about these things, highlighting them
• 27:31
  and and opining on them like this is a talk show.
• 27:34
  I'm here to just give you my opinion.
• 27:36
  If you agree with me, awesome. Let let's just continue to
• 27:40
  spread these ideas. If you disagree with me, I'll
• 27:42
  see the feedback and we'll see is if there's any merit in your
• 27:45
  in your thinking. But we've seen these economic
• 27:49
  plans play out. They never end in in a a utopia
• 27:53
  because we would already be leaving living one.
• 27:55
  They actually usually end in despair for millions of people
• 28:00
  and worse the Netherlands. I hate to say it if you're Dutch
• 28:06
  I would be super angry, but the Netherlands is most likely going
• 28:11
  to be cooked if this passes again.
• 28:14
  They need to, it needs to get final approval.
• 28:20
  But what is scary is if this does pass in the Netherlands,
• 28:22
  obviously they don't. They don't have the biggest
• 28:24
  economy. But other EU countries will also
• 28:29
  most likely try to follow suit. And if the EU just goes full
• 28:34
  unrealized capital gains tax, the capital flight out of the EU
• 28:38
  will be insane. It it will be monumental.
• 28:42
  The, the flight to Bitcoin or the flight to something like
• 28:47
  Bitcoin. Maybe people want to buy gold,
• 28:48
  but then it's hard to kind of get out of your country with it.
• 28:51
  It's going to be massive Things are we are, we are definitely in
• 28:56
  one of the most interesting times to be alive.
• 29:01
  This is a pivotal moment in history right now with
• 29:05
  everything we're seeing, whether you're on the left or the right,
• 29:09
  it is a very interesting time to be alive.
• 29:12
  Now, most people in positions of power and most people that that
• 29:16
  been around for a long time, they still have old thinking.
• 29:19
  Bitcoin will fundamentally throw a wrench in their plans that
• 29:23
  just not enough people are using Bitcoin yet, but it will
• 29:27
  fundamentally shift this whole ideology.
• 29:29
  It will, I think it will. It will basically and all of
• 29:32
  these plans if enough people get into Bitcoin.
• 29:34
  So this is where we are, man. It's not just one of those
• 29:40
  things where where we're on the show talking about it
• 29:42
  hypothetically, like this might actually get passed.
• 29:45
  This might actually be a reality in Europe.
• 29:47
  It's absolutely nuts. Norway tried it failed in other
• 29:52
  countries. Like they didn't tax enough.
• 29:53
  We'll try it again. And it's actually an EU country,
• 29:58
  absolutely cooked. That's why I'm like, look, I,
• 30:01
  I'm super glad to be an American.
• 30:03
  I'm not a huge fan of a OCI. Don't think she's going to win.
• 30:08
  I don't even think they'll they'll be able to get her to
• 30:10
  run. But there is a lot of people
• 30:12
  that don't believe the things that I believe that don't see
• 30:15
  the world like I I believe and and that is terrifying.
• 30:18
  Anyways, let 4 turning stuff for reals, bro, for reals, Big big
• 30:25
  facts. All right, guys for the rest of
• 30:28
  the show, I got a clip from a Black Rock manager.
• 30:35
  He is you guys seen him, Robert Mitchnick and he's making an
• 30:39
  interesting case about what's going on with the ETFs.
• 30:42
  I know we've been blaming the like boomers buying the ETFs and
• 30:46
  hedge funds and stuff, but he he's got a different take at
• 30:50
  investors week last week. And then I got I got a couple of
• 30:53
  news stories. The, the main one for me is the
• 30:56
  CFTC announced their committee. I, I forget what it's called.
• 31:00
  Let me let me get this up. It is the advisory committee
• 31:04
  members. They gave the whole list and bro
• 31:09
  Bros, it's not looking good. It it's looking a lot like the
• 31:13
  shit coinery is going to get caught up in the CFTC.
• 31:16
  The lobbying for shit coins is going to go out of this world.
• 31:19
  And then like I told you, I was going to do it on Friday, but we
• 31:24
  had a guest, last minute guest. So I'm going to do the meme
• 31:26
  review today. OK, Meme review Monday.
• 31:29
  It's on the table. So hang out towards the end of
• 31:32
  the show. We are going to have a couple of
• 31:33
  laughs. On that note guys, I will be
• 31:36
  right back. Today's episode is brought to
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  se-ed.com store. All right guys, The current
• 33:51
  Bitcoin price is $68,210, which is a 45.9% discount from all
• 34:00
  time high. That's crazy.
• 34:02
  And the market cap still at 1.36 trillion.
• 34:05
  That's nuts. OK, the block height, TikTok
• 34:08
  next block, the real universal time on planet earth is the
• 34:12
  block height. It is currently at 936,948.
• 34:17
  OK, so as I was telling you guys, Pop had Investors Week in
• 34:22
  New York and there was some pretty good clips going around.
• 34:26
  But I like this clip from the BlackRock digital advisor,
• 34:31
  digital head of Digital assets, Robert Mitchnick, and he's
• 34:36
  making a interesting case. I mean, we do kind of have to
• 34:40
  trust him, bro. I mean, you could look at the
• 34:42
  data, but it is a interesting case and I know we have been.
• 34:49
  Sorry guys, this water is getting to me.
• 34:53
  He made an interesting case about who is actually selling
• 34:56
  the Bitcoin, what is going on, what's going on in the market.
• 34:59
  So let's listen to this real quick.
• 35:00
  It's a short clip, a misperception out there that
• 35:04
  like it's a bunch of hedge funds in ETFs that are creating
• 35:07
  volatility and and selling that's not what we're seeing.
• 35:10
  You look at I bit last week on a week that was tumultuous
• 35:15
  obviously in the Bitcoin market we had 0.2% of the fund redeem
• 35:22
  right. So if there actually were hedge
• 35:23
  funds that were massively unwinding trades that they were
• 35:26
  running in the ETF, you would have seen billions there.
• 35:28
  We saw many billions liquidated on these levered per platforms.
• 35:32
  The ETFs have been very steady. It's a much more long term buy
• 35:35
  and hold type investor base. Interesting take though.
• 35:39
  It is one of those things of can can I even say it, you know,
• 35:45
  drug dealer telling you the drugs are good kind of idea.
• 35:50
  Obviously he's got an incentive to tell you, hey, the ETF buyers
• 35:53
  are in it for the long term. But if you look at the data it,
• 35:55
  it is, it is pretty on point like we, we haven't really seen
• 35:59
  too much outflows in the, in the grand scheme coming out of the
• 36:04
  Bitcoin ETFs. Yes, there has been some
• 36:07
  selling. I saw it was about 6%, but said
• 36:10
  another way, about 94% of the Bitcoin or capital that went
• 36:13
  into the ETF, it was held or said another way, 94% of the.
• 36:19
  And I, I don't mean to just say boomers, guys, I know you guys
• 36:22
  yell at me when I say the boomers, but it, it's just, it's
• 36:26
  just an easy way to describe it. But 94% of the people, the
• 36:30
  institutional interest coming into Bitcoin through the ETFs
• 36:33
  have held their Bitcoin. Now.
• 36:35
  Robert Mitchnick, did I did I say that right?
• 36:39
  Yeah. Robert Mitchnick, he's making
• 36:41
  the case that in the last week when we got, when we dumped
• 36:44
  TO60K, they only saw a .2% redeemed.
• 36:48
  So the majority of people that were buying Bitcoin through the
• 36:53
  ETFs, we're huddling that Bitcoin through these dips,
• 36:56
  which is a generally, I would say, a good thing to see because
• 37:01
  it does mean that they're in this for the long run.
• 37:04
  Now, I know we've been arguing on the show.
• 37:06
  I've been arguing with you guys in the chat.
• 37:08
  I've been making the case that it does seem like the
• 37:10
  institutional investors buying into the Bitcoin ETFs are buying
• 37:15
  this thing for the long term. As we always like to say,
• 37:19
  incentives basically drive the world.
• 37:22
  They're incentivized to hold this long term.
• 37:25
  They're starting to understand what this Bitcoin thing is and
• 37:27
  they're not just in it for the short term.
• 37:29
  Now, it could be because they know, hey, look, most ETF
• 37:34
  investors like I'm, I'm investing for five to 10 years.
• 37:36
  And this isn't about making, you know, getting rich overnight.
• 37:39
  This isn't about getting rich in one year.
• 37:41
  They see the long term trend of Bitcoin number go up.
• 37:44
  It's going up forever, Laura, all the memes and they're not
• 37:48
  getting scared out, which is really good to see.
• 37:50
  Now, another interesting thing, he didn't really say it in that
• 37:54
  clip, but there has been a rumor that A and most people are
• 37:59
  saying it's like a Hong Kong hedge fund basically, you know,
• 38:04
  had to sell their ETS because they got caught off sides and
• 38:08
  then they wanted to long and then they got liquidated.
• 38:13
  He he would, he kind of was saying that's not what he's
• 38:15
  seeing though. We are seeing a lot of
• 38:18
  liquidations going on right now. And again, remember who his who
• 38:22
  the main boss is at BlackRock. Larry Fink said this a couple of
• 38:26
  weeks ago. He's like, we love Bitcoin.
• 38:28
  It's not going away. The main problem with it is it's
• 38:32
  being run by the leveraged players, which is why I keep
• 38:35
  saying like it seems to me like they are trying to liquidate all
• 38:39
  of the leverage. Also try to bring most of the
• 38:43
  capital on shore to the US under US rules, which means that most
• 38:48
  likely these banks, you know, the black rocks, the JP Morgan's
• 38:52
  of the world will be the new finances of of the the next era
• 38:57
  here. So he has also doubled down on
• 39:01
  that idea. It's like most of the selling
• 39:03
  that we are seeing is because of forced liquidations, people
• 39:06
  going long, people going short. They just get caught off sides,
• 39:10
  cascading liquidations, which does make me think that the 60 K
• 39:13
  drop was most likely just cascading liquidations and it
• 39:17
  really got ahead of the market makers or putting another kind
• 39:21
  of spin on this that we've been hearing a lot of rumors about.
• 39:25
  Maybe it was Binance getting a little overzealous.
• 39:29
  I know we covered it last week. They're like, yeah, we were
• 39:31
  going to buy a billion. We actually sold a billion.
• 39:35
  Sorry guys, we didn't, we didn't mean to do that.
• 39:38
  There was some kind of algorithmic issue.
• 39:40
  So maybe 60 K was the bottom guys.
• 39:44
  Now, I know we're going to literally we're going to dump
• 39:46
  right now after I said this because the algorithms are
• 39:49
  listening to me. But it does kind of make me
• 39:52
  think that that drop to 60 K was just a cascading, you know, the
• 39:57
  market overcorrecting to the downside.
• 40:00
  And as you saw, yeah, we did bounce up.
• 40:02
  We're at like 68 Ki. Don't know if you saw this
• 40:04
  morning. It did get as high as 70K this
• 40:06
  morning. And then it instantly dropped
• 40:08
  back down to 68 K. So it's starting to, I don't
• 40:11
  know, I was talking to Luke again.
• 40:12
  You know, me and Luke have conversations almost every
• 40:14
  morning and he's like, I don't know, man, I'm starting to get,
• 40:16
  I'm starting to get bullish again.
• 40:18
  And I'm like, yeah, what what are you, what are you watching?
• 40:20
  And he's like. Well, it looks like equities are
• 40:23
  going to dump, and I'm like, I don't know, Wouldn't that make
• 40:25
  it not a bullish scenario for Bitcoin?
• 40:29
  If all the markets are dumping, we're going to get wrecked.
• 40:32
  But we'll see, guys, we'll see. Cheap stats are on the table.
• 40:37
  We get discounts. It's beautiful.
• 40:40
  Just keep buying, keep stacking, keep accumulating.
• 40:42
  This is the way, boys and girls. This is when legends are made.
• 40:46
  This is when you're going to look back and be like, I am so
• 40:48
  glad I got a 60K Bitcoin because now we're in the six figures
• 40:55
  very strongly. That's that's the bull case,
• 40:58
  guys. It's going up forever.
• 40:59
  Anyways, I'm going to cover a couple of these stories in this
• 41:02
  next ones, but I'm really going to dive into the CFTC stuff.
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• 43:38
  All right, guys, so last week we got the news that Twitter's
• 43:45
  going to do X money. You know, there's been a lot of
• 43:49
  speculation on whether they're going to use Bitcoin or not.
• 43:53
  Is this going to end in failure like Libra, You know, the meta
• 43:56
  move towards something similar. We'll we'll see.
• 44:01
  We we haven't gotten too much, too much news coming out of
• 44:03
  that, but we do know they are doing quote UN quote X money
• 44:06
  here very soon. Then we saw this, which is it's
• 44:11
  this is going to be a disaster. But hey, it I guess it is news.
• 44:15
  We have watch your guru tweeting that X is to launch crypto and
• 44:20
  stock trading directly from the timeline within a couple of
• 44:23
  weeks. And I love this tweet here the
• 44:26
  Sam Bakeman freed, you know, scared going into the courtroom.
• 44:30
  He goes Jesus. So it looks like they are
• 44:35
  definitely leaning into BIC or sorry, Twitter being the
• 44:40
  everything app, a centralized place to make all of your
• 44:43
  financial decisions. And the initial reaction to this
• 44:48
  for me, you know, at first you're kind of like, I guess
• 44:50
  that's pretty cool. Like I can put a Bitcoin cash
• 44:53
  tag on my timeline and it'll buy Bitcoin for me.
• 44:57
  Like maybe, maybe that will reduce some friction.
• 45:01
  And then you really get into kind of the, the deeper probably
• 45:06
  thoughts of this and you're like, Oh my God, dude.
• 45:08
  The the amount of degenerate trading that's going to happen
• 45:12
  just on the Twitter timeline. Like imagine you see a tweet
• 45:16
  thread about some shit coin that's going to go 100 X.
• 45:22
  You do a cash tag and you can just buy it.
• 45:25
  Dude, this is going to be insane in the worst way possible.
• 45:29
  And this is going to be people are going to get wrecked.
• 45:33
  It might be actually funny to watch.
• 45:35
  Not not that I like people getting, you know, losing their
• 45:38
  wealth and their life savings, but this is going, this is going
• 45:42
  to be atrocious. This is going to be insane.
• 45:45
  This is going to be, this is going to be some next level
• 45:48
  degeneracy going on on the Twitter timeline.
• 45:51
  So they're doubling down on Twitter or X being the X money
• 45:56
  centralized money platform where you can do all of your financial
• 45:59
  decisions on one platform. And dude, this is this is going,
• 46:06
  this is just going to be yeah, it's going to give it to you,
• 46:10
  bro. Oh, man.
• 46:12
  There. There is maybe one more before
• 46:14
  before I move on. There is maybe one more other
• 46:17
  wrinkle here. It is kind of an interesting
• 46:21
  thought experiment to think that like, is this going to if this
• 46:27
  catches on? If if this if this does, if they
• 46:30
  do do it in in seemingly a a Safeway quote UN quote.
• 46:35
  Will this minimize some of the volume on exchanges?
• 46:40
  Will people not go to, you know, the shit coin casinos, even the
• 46:44
  Bitcoin exchanges if they could just buy their Bitcoin on the
• 46:47
  timeline. That's that's that is kind of an
• 46:50
  interesting thought experiment. So does that mean that the
• 46:52
  exchanges are basically going to lose some of their power here
• 46:56
  because of what Twitter's doing? I don't know that that's kind of
• 46:59
  like when I when instead of just trolling it, when I actually
• 47:02
  kind of like critically think about this.
• 47:04
  That's one of the thoughts where I'm like, I wonder if this will
• 47:09
  actually have some impact on the volume from exchanges.
• 47:12
  Like are we going to be able to treat Twitter like an exchange
• 47:15
  now? You know, you see what I'm
• 47:17
  saying? It's so it's like that is kind
• 47:19
  of an interesting thought experience.
• 47:20
  But again, my overriding wow, the degeneracy is going to go
• 47:23
  absolutely ape shit it it's going to be nuts, man.
• 47:27
  This will nuke folks 100% will nuke people this yeah, 100%.
• 47:34
  OK, I, I don't mean to laugh. Maybe, maybe it's not as bad if
• 47:38
  I laugh before people get hurt. So people are like, oh, you're
• 47:42
  laughing at people that are losing their life savings.
• 47:44
  I'm I'm laughing before, before it even gets implemented.
• 47:47
  OK, I'm already calling it ridiculous.
• 47:49
  Now pivoting a little bit, I'm going to pivot a little here.
• 47:54
  We did get an announcement from the CFTC and they announced the
• 48:01
  Innovation Advisory Committee members.
• 48:04
  And the only reason I'm I'm really talking about this is
• 48:08
  just to show how bad the list is, which really is doubling
• 48:13
  down on my view that a lot of this regulation is probably
• 48:16
  going to be very bad for Bitcoin particularly and most likely be
• 48:21
  a lot of shit coin lobbying for specific shit coins and a lot of
• 48:25
  degenerate trading. So these two stories do kind of
• 48:28
  go together and of course there has been a lot of talk on with
• 48:33
  this Clarity Act and with regulatory clarity, who actually
• 48:39
  will be overseeing Bitcoin or crypto or digital assets at
• 48:44
  large. For the longest time it was the
• 48:46
  CSC, the SEC, and then there was a little bit of conversation a
• 48:52
  few years ago towards the end of 2024, maybe the beginning of
• 48:55
  2025 of who, who is bet which? Which regulatory institution is
• 49:03
  better equipped to regulate Bitcoin?
• 49:07
  Is it the CFTC? Is it the SEC?
• 49:10
  You know, all of these institutions, they all
• 49:13
  essentially label Bitcoin in such a way that it's under their
• 49:18
  purview. And there has been a lot of
• 49:21
  debate on whether, hey, is the Clarity Act going to move the
• 49:27
  jurisdiction of Bitcoin under the CFTC, which is the
• 49:30
  Commodities Futures Trading Commission, You know, Bitcoin is
• 49:33
  a quote digital commodity, or is it going to be under the SE CS
• 49:38
  purveyor purveyorship because of, you know, the idea that
• 49:44
  maybe it's an equity. As as we've seen throughout the
• 49:47
  years, there has been this idea that Bitcoin is a commodity, but
• 49:51
  all the shit coins are equities. And then we got some lobbying
• 49:55
  and saying like, oh, Ethan, I forget what other shit coin.
• 49:58
  It's like, oh, it doesn't, it doesn't fall under the Howie
• 50:01
  test, you know, And so you're starting to see that they really
• 50:05
  don't know how to how to categorize Bitcoin.
• 50:09
  It's almost reminds me of the the five blind men touching an
• 50:12
  elephant, each one touch a different part and they're like,
• 50:15
  oh, it's this, it's this, it's this.
• 50:17
  And really they're just making the rules so that they can put
• 50:20
  it under, under, you know, their guidance.
• 50:23
  Anyways, anyways, this is where it it does get interesting.
• 50:27
  And since we are a Bitcoin only channel, we used to do the daily
• 50:31
  Fail here where we just show just ridiculous shit coinery
• 50:34
  happening and people failing this.
• 50:37
  This could be a throwback to that.
• 50:38
  So CFTC, they just released this.
• 50:43
  Well, they released it last week, but it just started making
• 50:45
  the rounds. The CFTC announces Innovation
• 50:48
  Advisory Committee members Washington The CFTC today
• 50:53
  announced the members of the Innovation Advisory Committee.
• 50:56
  Quote Today marks an important and energizing moment at the
• 51:00
  CFTC as the Innovation Advisory Committee takes shape.
• 51:03
  The IA C's work will help ensure the CFT C's decisions reflect
• 51:08
  market reality so the agency can future proof its markets and
• 51:12
  develop clear rules of the road for the golden age of American
• 51:17
  financial markets. Chairman Selig is the sponsor of
• 51:20
  this committee and nominated Michael Pasalaqua as the
• 51:25
  committees designated Federal Officer.
• 51:28
  The following individuals have been appointed as members of the
• 51:31
  AIC. Now I'm not going to read
• 51:32
  everyone's name. I just want to read the
• 51:35
  organizations that are added to the Innovations Innovation
• 51:40
  Advisory Committee under the CFTC.
• 51:42
  We have Uniswap Labs, We have Coinbase.
• 51:45
  We have Rothera Markets Polymarkets A16Z CBOE Global
• 51:50
  Market CME Group Bullish NASDAQ Ripple FanDuel Bitnamial FIA
• 51:57
  Cauchy Crypto Anchorage Digital Grayscale Chain Link Labs
• 52:02
  Paradigm Etherealized DraftKings Elsaig krakenblockchain.com
• 52:09
  Framework Venture Intercontinental exchange Robin
• 52:12
  Hood Gemini Solana Labs are are you are you starting to connect
• 52:19
  the dots here Anyways, it goes the I see we'll serve as an
• 52:24
  important research for resource for cutting edge innovation in
• 52:27
  the derivatives and commodity markets.
• 52:30
  The committee will help the Commission keep pace with how
• 52:32
  breakthrough innovation such as AI and blockchain technologies
• 52:35
  are transforming markets, enabling the agency to develop
• 52:39
  adaptive regulations and maintain robust financial
• 52:42
  oversight in a world where change is constant.
• 52:45
  America is home to the most transparent and well regulated
• 52:48
  financial markets in the world, but we cannot assume that this
• 52:50
  will always be the case. By bringing to together
• 52:53
  participants from every corner of the marketplace, the AIC will
• 52:56
  be a major asset for the Commission as we work to
• 52:58
  modernize our rules and regulations for the innovations
• 53:02
  of today and tomorrow. Insane.
• 53:07
  OK, so being generous here, being extremely generous here,
• 53:15
  we can say maybe three of these companies or representatives
• 53:19
  from these companies or even somewhat Bitcoin and and that's
• 53:23
  a stretch. I'm stretching here.
• 53:26
  And that would be like Coinbase, which is the biggest shit coin
• 53:29
  casino. They've been enemies to Bitcoin.
• 53:32
  We have Kraken, Kraken's been pretty good.
• 53:34
  Yes, yes, they got shit coins on the platform, but but Kraken I I
• 53:38
  would argue, is an ally to Bitcoin.
• 53:40
  And then Gemini, they got Tyler Winklevoss.
• 53:44
  Now you know, he's an early Bitcoin investor.
• 53:47
  Gemini is a great platform, but they they also do shit coin now
• 53:52
  all this other stuff. Oh, I didn't, I didn't even show
• 53:55
  you guys, sorry, all the all this other stuff.
• 53:59
  Like honestly, it really it, it really is like a slap in the
• 54:06
  face. It's like we're, we're just
• 54:09
  turning, we're just turning American markets into, into pure
• 54:12
  gambling. Like it's crazy.
• 54:14
  Like shit coin casinos, shit coin company representatives,
• 54:19
  literal betting sites, gambling websites.
• 54:25
  It's like we have just turned, well, well, rather not yet.
• 54:28
  We will be turning the American market into purely gambling.
• 54:33
  Everything is just going to be gambling guys.
• 54:37
  This is the message I'm getting from this CFTC is supposed to
• 54:41
  be, you know, regulating the digital commodity space.
• 54:47
  And a lot of these companies are part of, you know, shit coin
• 54:53
  projects that I wouldn't consider a digital commodity.
• 54:58
  It's most likely just an equity. It's just not guys.
• 55:03
  The this is, this is the golden age, guys, where everything is
• 55:09
  just gambling. We have just entered the casino,
• 55:12
  boys and girls. Bitcoin is simply being
• 55:15
  considered some kind of gamble. We are just at the casino
• 55:19
  though, though, if that Trump thing goes through where, you
• 55:23
  know, no capital gains tax on gambling.
• 55:25
  I mean, hey, all right, all right, Bitcoin's gambling at
• 55:28
  that point. Like, fuck it, let's go, guys.
• 55:31
  But yeah, dude, this, this representation is, is atrocious.
• 55:36
  It's it's kind of nuts. I think, I think it really shows
• 55:41
  what they think of, of Bitcoin and the quote UN quote crypto
• 55:46
  industry at large. Now, of course it is Bitcoin and
• 55:50
  then there's everything else. But we are being lumped up into
• 55:54
  this idea of just like, it's just a casino, man, just like,
• 55:57
  you know, show up at the door, you know, go, go hear the, the
• 56:03
  flashing lights and get, get inundated with blue lights and,
• 56:06
  and see the hear the noise and go, you know, go get drunk and
• 56:10
  hit the buffet. It's like we have just, we've
• 56:14
  really gotten to end of empire type vibes here where everything
• 56:20
  is just gambling. It's just all a casino.
• 56:23
  It's a free for all. Just get what you can from it,
• 56:26
  you know, come in, get as much as you can, squeeze as much out
• 56:31
  of the casino as possible before you lose your shirt and your
• 56:34
  house and your wife. Because the American economy is
• 56:38
  most likely going to be turned into just one giant casino.
• 56:42
  I'm being reminded of Idiocracy. We are now living in a casino,
• 56:46
  boys. It is all a giant casino.
• 56:53
  Yeah, dude. Me either, bro.
• 56:55
  Me either, man. Yeah, it's no crying in the
• 56:58
  casino. Vegas going global, dude.
• 57:02
  For real, bro. It's it's literally nuts.
• 57:06
  Like maybe, maybe I'm reading into it too much, but when I see
• 57:10
  all those, those representatives from all of these shit coin
• 57:14
  companies going to the CFTC to be a part of the innovation
• 57:17
  Advisory Committee, it's like, holy shit, we have, we've just
• 57:23
  gone full, full Weimar acceleration list.
• 57:28
  Dude, let's hyperinflate the currency away.
• 57:31
  Let's just all go to the casino. Just get what we can out of it
• 57:36
  because this is the incentives that I'm most likely seeing is
• 57:41
  going to happen. We have just turned the world
• 57:44
  into a giant casino because that's what's going to happen if
• 57:47
  the US passes regulations that, you know, we're not really happy
• 57:53
  with. That really makes everything a
• 57:54
  casino. Every other country in the world
• 57:56
  is going to make theirs follow out.
• 57:58
  Us in the US and now the world's just one giant casino, guys.
• 58:03
  Just, you know, get in, get what you can, and get out of the
• 58:07
  casino. No crying.
• 58:09
  No crying in the casino, guys. It's nuts, man.
• 58:14
  It is literally absolutely. Well, that escalated quickly.
• 58:19
  We are all cooked. So true.
• 58:23
  Guys, look, I've been saying this for a minute.
• 58:25
  Oh, what's going on? What's going on?
• 58:28
  There we go. You know, I'll be, I'll be
• 58:34
  honest, at first I was hopeful, maybe naively hopeful that these
• 58:41
  regulations, you know, regulatory clarity would be a
• 58:43
  good thing for Bitcoin. You know, Nico still holds out
• 58:46
  hope that like, as long as self custody is protected, hey, you
• 58:51
  know, it doesn't have to be perfect.
• 58:53
  It's better than nothing. As this process has gone along
• 58:57
  more, I'm starting to realize it's most likely not going to be
• 59:02
  good for Bitcoin. It might be good for shit coins.
• 59:06
  Obviously we're seeing the fight with the Clarity act.
• 59:08
  The banks have basically Co opted it.
• 59:12
  They're most likely in control of this.
• 59:16
  I don't think regulations, as we've seen so far and the
• 59:20
  direction that it's going is going to be beneficial for
• 59:23
  anyone except for, you know, those that own the casino.
• 59:29
  This is just Fiat. This is this is Fiat money on
• 59:32
  steroids. Late empire vibes where the
• 59:36
  people in power just robbing the coffers for everything it's got.
• 59:40
  Let's just turn it all into a casino.
• 59:42
  Let's get it over with. If you own the house, you're
• 59:45
  going to get rich. It is.
• 59:49
  It is. It is.
• 59:51
  It is pretty. It is pretty bleak, to say the
• 59:54
  least. But hey, it's Monday.
• 59:57
  I'm not going to roaring 20s return, dude, for reals.
• 1:00:01
  All right, boys. All right.
• 1:00:04
  What year is it, 2020? What year is it?
• 1:00:06
  2026? OK.
• 1:00:09
  Hey, you know, 100 years ago, What happened in 29?
• 1:00:16
  We got three years, boys. We got three years to get as
• 1:00:20
  much out of the casino as possible because maybe we are,
• 1:00:25
  maybe we're deep in the Roaring 20s.
• 1:00:27
  Maybe that was the Roaring 20s. And we, we see at the end of
• 1:00:32
  this decade, something very similar happened to what
• 1:00:36
  happened in 1929. Bro, the new Roaring 20s, same
• 1:00:41
  as the old ones, just 100 years later.
• 1:00:45
  Have fun, get drunk, go to the casino party all the time.
• 1:00:50
  And then at the end of the decade, the greatest depression,
• 1:00:55
  because now it's completely going to happen everywhere.
• 1:01:01
  No, guys, I like it's Monday. I'm, I'm, I'm not black pilled
• 1:01:07
  today. I'm, I'm actually more hurting
• 1:01:10
  from the gym than being mentally blackmailed.
• 1:01:14
  But am I reading into this like I think we're in the roaring
• 1:01:19
  20s. They're going to just legalize
• 1:01:22
  gambling, let the casino run anyways.
• 1:01:26
  Anyways, as you guys know, you guys have asked for it.
• 1:01:34
  We're going into the meme review.
• 1:01:35
  But before I do that, I do got to give a shout out to our boys
• 1:01:38
  over at Bitcoin Magazine. We are going to Vegas for a Las
• 1:01:43
  Vegas 2026, April 27th and 29 at the Venetian.
• 1:01:48
  Pretty sure the whole Simply Bitcoin crew will be there.
• 1:01:51
  We're still, we're still kind of figuring out what we're going to
• 1:01:54
  do, but I'm almost positive the whole team will be there.
• 1:01:57
  So if you want to come hang out with the whole team, me, Nico,
• 1:02:01
  Rustin, Dante, the whole simply Bitcoin crew, those in front of
• 1:02:07
  the camera and behind the camera, we will be in Vegas
• 1:02:10
  April 27th to 29. Get yourself a ticket now
• 1:02:14
  because the prices will go up and if you use a promo code
• 1:02:18
  Simply you will get 10% off OK guys, on that note, Meme Review
• 1:02:23
  is back. It is meme review Monday.
• 1:02:26
  Ask and ye shall receive last break of the show.
• 1:02:32
  I want to give a shout out to our partner Hive Digital
• 1:02:35
  Technologies. Fueled by clean energy, Hive has
• 1:02:38
  quadrupled its global Bitcoin mining footprint and channels
• 1:02:42
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  AI cloud is now ranked number one in the world for network
• 1:02:50
  performance. At Hive, you've got dual
• 1:02:53
  engines, Bitcoin and AI humming, roaring, accelerating and
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  unison. They're lean and mean, they're
• 1:02:59
  green and clean, and they're rewriting the playbook on
• 1:03:02
  sustainable digital infrastructure.
• 1:03:04
  You can catch the latest buzz at Hive Digital Tech or at Hive
• 1:03:08
  digitaltech.com. All righty then guys.
• 1:03:16
  So if you're newer to the channel, we used to do this
• 1:03:19
  thing called the meme review, where at the end of every show,
• 1:03:23
  I would cover the best memes that I saw on Twitter either
• 1:03:28
  that day or and then I moved it to that week and you guys have
• 1:03:32
  been yelling at me about it. You're like, Opti, bring back
• 1:03:35
  the meme review. Ever since you dropped the meme
• 1:03:36
  review, we've been in a sideways bear market.
• 1:03:40
  That was a top Opti dropping the meme review was a top signal.
• 1:03:45
  Well, that's not exactly what happened, guys.
• 1:03:48
  And I, I've had this argument with you guys in the chat, so
• 1:03:51
  I'm not going to rehash this, but anyways, Monday meme review.
• 1:03:57
  As we used to say, tweets are the bullets, memes are the
• 1:04:00
  artillery. We are in an information war.
• 1:04:04
  And the reason that memes have power is because you have to
• 1:04:08
  distill truth in them for them to propagate, for them to
• 1:04:12
  spread. If they're not funny, if they're
• 1:04:15
  not truthful, then the meme dies.
• 1:04:17
  The meme doesn't go anywhere. And this is the power of memes.
• 1:04:21
  You obviously know about memes. You probably send memes to your
• 1:04:24
  friends and your family. I literally only speak in memes.
• 1:04:28
  I only talk to my friends in memes.
• 1:04:31
  I literally just send memes all day to my friends.
• 1:04:33
  Anyways, these memes were I was going to put these on Friday, so
• 1:04:37
  I do have some from Friday. So I maybe I'm, you know, a
• 1:04:40
  couple of days late on these, but let's keep that in context.
• 1:04:44
  Some of these were supposed to be talking about the things we
• 1:04:47
  were talking about on Monday or sorry on last week.
• 1:04:50
  Here's my first one. This one, I think is the general
• 1:04:53
  sentiment that everyone is feeling in every market.
• 1:04:56
  And this is sounds looks like a shit corner.
• 1:04:59
  Saul Lonix, I'm guessing he's a shit corner.
• 1:05:03
  But he's got a picture here of Trump in like a, you know, a
• 1:05:06
  Buddha meditating position. And he's got the markets behind
• 1:05:10
  it and he's got some incense and he goes, my dearest Mr.
• 1:05:13
  President, just one more bull run.
• 1:05:15
  I promise to take the profit right after the screenshot.
• 1:05:20
  I think we're all, you know, shouts out to my friends in the
• 1:05:24
  chat that called the top. They're Bitcoiners, but they're
• 1:05:28
  like, dude, I'm selling a little out.
• 1:05:30
  I'm going to buy lower. Like, hey, you were right, all
• 1:05:33
  right, I don't do that. Maybe I should have done that.
• 1:05:36
  Maybe I should have done that. But to me, you know, selling
• 1:05:39
  your Bitcoin just feels blasphemous.
• 1:05:42
  OK, But I am on this tip. I'm like, yo, Mr. President,
• 1:05:45
  please, just, please pump our bags.
• 1:05:48
  Just one more bull run, man. Just give us another bull run
• 1:05:52
  and I'll think about taking profits.
• 1:05:55
  I'll think about maybe, you know, securing something in just
• 1:05:59
  so I can live. I'm not selling my whole bags.
• 1:06:01
  I'm just saying, you know, life's getting expensive.
• 1:06:04
  I got to pay rent. You know how it goes, guys, come
• 1:06:07
  on, come on, it's not that crazy.
• 1:06:09
  Anyways, this next one, I love the Joker movie and here we have
• 1:06:16
  Robert De Niro. You know when the Joker goes on,
• 1:06:19
  on the the interview on the TV and this one is a play on that
• 1:06:26
  because of what we saw last. What was it last Thursday?
• 1:06:30
  I believe it was when Pam Bondi was getting scorched and she is
• 1:06:34
  like basically, hey, don't look at the biggest scandal in the
• 1:06:37
  world. We should be looking at these
• 1:06:39
  record numbers in the stock markets and then literally the,
• 1:06:43
  the day after the, the stock markets just kind of tank.
• 1:06:46
  And so we have Robert De Niro and he does that.
• 1:06:49
  You're laughing. The Dow just fell below $50,000
• 1:06:53
  and you're laughing. It's over, Bros.
• 1:06:56
  Remember, if it's above $50,000, we don't have to talk about
• 1:06:59
  anything in those files. But now that it's below $50,000,
• 1:07:05
  I guess we just laugh and we can talk about it.
• 1:07:07
  I, I don't know how the rules work.
• 1:07:09
  I, I don't know how the rules work if it's over 50, if the Dow
• 1:07:12
  is over 50,000, do we not talk about the stuff that's happening
• 1:07:16
  in the world? But if it's under 50,000, do we
• 1:07:19
  have a right to talk about them? I don't know.
• 1:07:21
  I'm, I'm confused about the rules here now doubling down on
• 1:07:24
  this one. Same same format sort of we have
• 1:07:29
  Trump yelling, it looks like he's yelling at a little kid,
• 1:07:31
  you know, mowing, mowing the lawn.
• 1:07:33
  And he goes, did you know the Dow is at 50,000?
• 1:07:36
  Now this one is meta. I, I like this one 'cause this
• 1:07:40
  one is super meta because from someone that is young, you know,
• 1:07:44
  under, under 40, basically from a younger demographic
• 1:07:49
  perspective, this is really what that idea feels like.
• 1:07:54
  It's like most of my friends don't own the Dow.
• 1:07:57
  Most of my friends don't own the S&P 500.
• 1:07:59
  They don't own NASDAQ, they don't have 4 O1 KS.
• 1:08:04
  And what is the administration telling us?
• 1:08:07
  It's like, hey, we have the best economy ever.
• 1:08:10
  Look at the stock market. You guys are getting richer and
• 1:08:14
  if you don't own those stocks, well, hey, you know, shut up and
• 1:08:18
  don't talk about the things that are making us look bad.
• 1:08:22
  That is, I think that's the message that a lot of young
• 1:08:24
  people are getting. So if they if they don't figure
• 1:08:27
  this out and now I don't know if you saw the whole Alex Jones
• 1:08:29
  stuff over the weekend, he was going really hard.
• 1:08:31
  Like they fully UN unredacted the buyers.
• 1:08:34
  And so Alex Jones has been going super hard on this.
• 1:08:38
  He's saying they're finally doing, you know what I told them
• 1:08:41
  to do? No, I said it.
• 1:08:43
  I said it. When that story happened is
• 1:08:46
  like, if this is the hill that they metaphorically want to die
• 1:08:48
  on, the midterms are cooked. The younger generations are
• 1:08:53
  completely tuning out. I think this is the lowest the
• 1:08:58
  Republican approval ratings have been since Trump got elected.
• 1:09:03
  It's not looking good. The only thing that they can
• 1:09:06
  really do to save themselves is basically just fully release the
• 1:09:10
  files and redact them. But what did they say?
• 1:09:14
  If we do that, we're going to crash the stock market.
• 1:09:19
  We're going to we're going to crash the economy because it
• 1:09:22
  seems like a lot of the people that are in these elite
• 1:09:24
  positions are named in the files.
• 1:09:29
  This honestly, this is a metal one.
• 1:09:31
  Like all this young people, we're just getting yelled at by
• 1:09:34
  the boomers. It's like stocks are going
• 1:09:37
  really high. Don't worry about that.
• 1:09:39
  This is what we should be talking about.
• 1:09:40
  And we're over here just mowing lawns for pennies.
• 1:09:43
  Don't have retirement accounts. We're just trying to get by.
• 1:09:46
  We're eating ramen over here. I thought you're going to pump
• 1:09:49
  our bags, bro. I thought we were going to see
• 1:09:51
  150K Bitcoin early in this presidency.
• 1:09:55
  This golden age low key kind of sucks.
• 1:09:58
  Bitcoin is at 68 Ki thought we were going higher man all right
• 1:10:03
  anyway, anyway, all right, all right, no black Pilling.
• 1:10:05
  All right, this next one, this one's funny.
• 1:10:08
  I I'm not going to play because there's like AI don't know if
• 1:10:11
  there's copyright, but this guy Kuno goes.
• 1:10:14
  This is too real. It goes them get into crypto.
• 1:10:18
  Trump is pro crypto and is going to take it places.
• 1:10:21
  The place I was taking, it's like an anime, you know, an
• 1:10:26
  anime girl and she steps through this door at the lake and the
• 1:10:29
  door opens up to McDonald's. All right, guys, we're all
• 1:10:32
  working at McDonald's. We're unemployable.
• 1:10:35
  I thought we were going to the moon.
• 1:10:37
  Turns out I'm broke and McDonald's won't even hire me
• 1:10:44
  anymore. So the places we have gone so
• 1:10:46
  far is we are all working at McDonald's.
• 1:10:49
  OK now this next one shout out to Robin Sayer because I I did
• 1:10:53
  say this last week. This is kind of my vibe right
• 1:10:57
  now. Just his tweet.
• 1:10:59
  Robin Sayre goes, I hope we're retesting 30K Bitcoin price.
• 1:11:03
  Let's just wash out all leveraged traders and goons in
• 1:11:06
  Bitcoin and we have Bitcoin. You know, it was 100K90K skipped
• 1:11:10
  80 and 70K is knocking on the 60K door.
• 1:11:13
  And all this Honda's like, bro, please just stop.
• 1:11:16
  All right, bro, just can you stop?
• 1:11:18
  Can you go back up? Like what?
• 1:11:19
  What are we doing here? Hey, hey, hey, hey, market
• 1:11:21
  makers, can you stop? Hey, hey CZ, can you stop
• 1:11:24
  dumping on us bro? Can you stop telling us you're
• 1:11:27
  going to buy a billion dollars of Bitcoin and you dump on our
• 1:11:29
  heads like yo, come on. Hey bro, hey bro, hey bro, hey
• 1:11:33
  between Bros, can you stop dumping on us?
• 1:11:36
  Can we, can we make this, this number go up again?
• 1:11:39
  Remember when Bitcoin went up? That was fun.
• 1:11:42
  But anyways, I, I am kind of with Robin Sayer.
• 1:11:45
  I don't know about the 30K price.
• 1:11:46
  I that's just crazy talk in my opinion, crazy talk.
• 1:11:50
  But if it did, we could pick up some cheap sets.
• 1:11:53
  But, but really what I'm saying is like, let's look, if we're
• 1:11:56
  going to dump, can we just get it over with?
• 1:11:59
  Can can we just like hit that number instead of this like slow
• 1:12:03
  drain, you know, this, this just like painful nothingness, this
• 1:12:08
  painful void of nothing ever happening?
• 1:12:12
  Can we just like get to the bottom?
• 1:12:14
  Maybe we're at the bottom. Maybe the 6K was the bottom.
• 1:12:16
  But like, if we're going to dump more, can we just like get it
• 1:12:19
  over with so that we can, you know, get some cheap sats and we
• 1:12:23
  can look forward to where it's going to go versus this
• 1:12:27
  uncertainty of where we are, like where we going and what's
• 1:12:29
  going on. Just get it over with, man.
• 1:12:32
  Come on. Just like, make it happen.
• 1:12:34
  Make it happen. Now this last one, this one
• 1:12:36
  really sums up everything that we are as Bitcoiners.
• 1:12:40
  So shouts out to Klucky's. And here's a picture of Homer,
• 1:12:45
  you know, with some glasses and a hoodie, drinking some, I think
• 1:12:49
  pink juice, you know, drinking some fruit punch, just chilling.
• 1:12:54
  He goes me during every Bitcoin crash knowing it's all going to
• 1:12:57
  be fine. This just sums up what it means
• 1:13:01
  to be a Bitcoiner. If you know where Bitcoin is
• 1:13:04
  headed, the short term price movements, it is what it is.
• 1:13:09
  That's why we always call Bitcoin on discount when it's
• 1:13:11
  not at all time high. This is why you're, you know,
• 1:13:15
  yes, you want your wealth to go up, your, your purchasing power
• 1:13:19
  to increase, but in reality, you know where Bitcoin is going.
• 1:13:23
  So as long as you're not all in, as long as you're not using rent
• 1:13:26
  money, grocery store money to buy Bitcoin, as long as you're
• 1:13:32
  not using the money you need to pay for bills, you're going to
• 1:13:37
  be chill. You're just like, hey, man,
• 1:13:39
  Bitcoin is cheaper. I guess I got to lower my time
• 1:13:42
  preference. I thought it was going to go
• 1:13:44
  higher this year. I guess it's going to be next
• 1:13:46
  year. All right, OK, whatever.
• 1:13:49
  I guess this year we're just locking in.
• 1:13:52
  We're working hard, getting our cash flow up, making sure I can
• 1:13:57
  buy some Bitcoin at the end of the month or end of the week or
• 1:13:59
  whatever works with you. But we're just chilling.
• 1:14:02
  We know what's going to happen, boys and girls.
• 1:14:04
  We know what is going to happen. All righty then no wait, meme
• 1:14:11
  review score, meme review score. I will hey look, I'll do a
• 1:14:15
  couple meme review scores. All right, so drop a meme review
• 1:14:18
  score. It's been a minute and and to be
• 1:14:20
  fair guys, if you want more meme reviews, you got to you got to
• 1:14:24
  tag me in some banger ass memes. The memes have been pretty
• 1:14:28
  pitiful. OK, that's the real reason why I
• 1:14:31
  stopped the meme reviews because the memes have been trashed.
• 1:14:36
  OK, Meme review, meme review score, Meme review scores.
• 1:14:39
  So we used to do a number, you know, one through 10, zero
• 1:14:44
  through 10. And then the meme review score
• 1:14:48
  is a meme. So I have this super cocoa
• 1:14:55
  candy. I think I I don't even know what
• 1:14:58
  it is. I think it's like caramel.
• 1:15:00
  I think they're like caramel. Should I eat it?
• 1:15:03
  Yeah, it's like caramel. Oh, coconut.
• 1:15:07
  It's a coconut thing. I forgot.
• 1:15:08
  OK, It's a coconut candy. All right, I I should not.
• 1:15:12
  It's super Coco. OK, coconut candy.
• 1:15:16
  All right, all right, all right, all right, we'll do a couple.
• 1:15:18
  Let's see. Let's see.
• 1:15:19
  Are any of the people still in here?
• 1:15:24
  Let's see. Are any of the O GS in here
• 1:15:28
  going to do a meme review score? Meme review score.
• 1:15:34
  Let's see. Let's see.
• 1:15:38
  Let's see. Damn, Bros, we don't even we
• 1:15:43
  ain't even got anyone in the chat doing meme review score.
• 1:15:48
  The scores are the only part that suck.
• 1:15:50
  All right, bet the market has spoken.
• 1:15:55
  All right, guys. All right, all right.
• 1:15:56
  Well, it's a Monday's show. We will obviously be back.
• 1:16:05
  Everyone's left. Sorry.
• 1:16:12
  Yeah, Intra Belden gets it. See, that's what I'm saying.
• 1:16:18
  That's what I'm saying. This is the real reason why the
• 1:16:20
  meme review left, because everyone left.
• 1:16:24
  All right guys, all right, all right guys.
• 1:16:27
  We'll be back obviously for the rest of the week.
• 1:16:32
  I think Nico will be back with me for most part of this week.
• 1:16:37
  On that note, it's your boy Opti.
• 1:16:39
  I hope you guys have a good rest of your day.
• 1:16:44
  Get outside, get some sun, call your loved ones, eat some good
• 1:16:47
  food, get a workout in, get get get your 10K steps in.
• 1:16:51
  We are 10K step maxing, We're locking in.
• 1:16:56
  You got to eat gun, you got to walk, you got to work out, you
• 1:17:01
  got to get some sun, got to get your money up.
• 1:17:05
  That's the five things you need to do.
• 1:17:07
  That is Opti's prescription for a better life.
• 1:17:10
  All right, on that note, peace out.
• 1:17:13
  I will see you all tomorrow. Today's episode was brought to
• 1:17:18
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:17:22
  mission to enable financial independence.