Latest / Simply Bitcoin / Is Bitcoin's Bull Run Canceled? | EP 1046

Transcript

Is Bitcoin's Bull Run Canceled? | EP 1046 · Simply Bitcoin

• 0:03
  It's. All going to zero against
• 0:05
  Bitcoin. It's going on forever.
• 0:07
  You're. Against Bitcoin, you're against
• 0:17
  freedom. They buy.
• 0:24
  Treasuries they buy. Gold people don't buy Bitcoin
• 0:27
  for safety. Yeah, Bitcoin is still mostly a
• 0:30
  risk on assets. And you know, there's
• 0:33
  potentially been some lots of liquidations.
• 0:36
  I think several 100,000 accounts liquidated over the weekend for
• 0:39
  to get money to get money. Like yeah, margin calls.
• 0:42
  And So what does that save you? The.
• 0:44
  Longer term about Bitcoin, does it say anything to you?
• 0:48
  I think it's showing you that as it becomes more widely held and
• 0:52
  held in traditional brokerage accounts, it is going to be
• 0:55
  increasingly a risk on asset. We shouldn't think of it as gold
• 0:58
  then a digital gold. We shouldn't think it is a store
• 1:01
  of value per SE. We should think of it as
• 1:03
  something else as a speculative tool that's that's in the sort
• 1:07
  of NASDAQI camp. It it's it's.
• 1:11
  Kind of both, I mean it's kind of it's very unique both.
• 1:13
  I don't when people say both, I don't get that both parts.
• 1:15
  I sort of agree it until it, it, I mean it obviously has some
• 1:20
  people think it has value, but when you need it and and you
• 1:23
  need to turn some of that value into cash for margin calls,
• 1:27
  you're going to you're going to sell it if it's up.
• 1:29
  Yeah. So when would then it?
• 1:30
  Be a store of value. That's that's just obviously
• 1:33
  it's a store of value. When it's in the speculative and
• 1:34
  it goes up camp, it's not a store of value.
• 1:36
  It's still storing $52,000 worth of value versus $8000 worth of
• 1:42
  value. We would call history of the
• 1:46
  don't say that we have never been down 1000 points ever, not
• 1:49
  even intraday on the NASDAQ. Is that true?
• 1:51
  That is true. OK, I'm down 6% right from the
• 1:54
  get go. This is heavy, heavy, sick big
• 1:56
  tech. Here we go look at them go down.
• 1:58
  Microsoft is down 20 bucks. That's 5%.
• 2:02
  Alphabet 5%, Meta 6%, Amazon 6%, Apple 9%.
• 2:08
  Down. Let's pull out Apple.
• 2:10
  Now this is interesting. What a question.
• 2:13
  Who knows, maybe we'll pay off our $35 trillion, hand him a
• 2:16
  little crypto check, right, We'll hand him a little Bitcoin
• 2:20
  and wipe out our $35 trillion. But how do you yeah, I went to
• 2:23
  simply Bitcoin live you know what starts with a peaceful
• 2:25
  Bitcoin revolution covering you use cultural termatic warfare.
• 2:27
  We'll be your guide through the separation of money and say
• 2:30
  ladies and gentlemen, you're tuning the simply Bitcoin live
• 2:31
  the most watched daily Bitcoin live show on YouTube Rumble and
• 2:34
  exit back relax, enjoy the ride. I'm going to bring up my coast
• 2:37
  up. Dude.
• 2:38
  Talking about the cold opening, holy cow, what hell happened
• 2:42
  yesterday? Apparently this all started in
• 2:45
  Japan, the Japanese markets, and it spooked everyone else.
• 2:48
  We finally got a $10,000 candle, but it was a $10,000 candle to
• 2:53
  the downside. It's not the right candle,
• 2:54
  though. It's.
• 2:55
  Not the right direction, but we still finally got it.
• 2:57
  And I mean, bro, like I can't. And I was, I was speaking to a
• 3:01
  family member earlier this morning and I was like, I
• 3:03
  remember the time that Bitcoin went from under 1000 to 10,000.
• 3:08
  And that was all of Bitcoin. It was $10,000.
• 3:10
  And in literally one day of trading, this thing fluctuates
• 3:15
  $10,000, right, 20,000%, I mean, 20% dip, absolute bloodbath.
• 3:21
  I mean, you're seeing your portfolio, especially if you've
• 3:23
  been in Bitcoin for a little bit, right?
• 3:25
  And you have your net worth in it.
• 3:27
  You're just seeing it fluctuate and you're like, what the hell
• 3:30
  is going on? But I think the overall theme,
• 3:34
  the thing that I want to focus on today's show is focus on the
• 3:39
  revolution, focus on what's actually going on.
• 3:42
  And the revolution is a separation of money and state.
• 3:45
  I mean, it's the theme of the show, the day-to-day volatility,
• 3:49
  I would say, is a good thing, right?
• 3:51
  Central bankers and governments would like to tell you that
• 3:55
  volatility is a bad thing. They'd like to tell you that,
• 3:57
  you know, you know, it destroys people.
• 3:59
  I would say that's like the natural order of things.
• 4:02
  And Bitcoin tends to be volatile, not tends to be.
• 4:05
  Bitcoin is volatile up and to the right versus Fiat currency,
• 4:10
  specifically for the larger countries, for the smaller
• 4:13
  countries that like it's, it's volatile going down.
• 4:17
  But Fiat is slightly less like less volatile, but down and to
• 4:21
  the right. Bitcoin is volatile up and to
• 4:24
  the right. I would much prefer the up and
• 4:27
  to the right in my opinion, but yeah, absolute bloodbath.
• 4:31
  And these historically, these moments, by the way, especially
• 4:34
  if you've been in been in this for a while, tend to be the best
• 4:38
  buying opportunities like catching falling knives is how
• 4:43
  you earn your stripes. It like, you know, you're like,
• 4:47
  I stacked at 60. I'm like, I got a good deal and
• 4:50
  then it just kept going down and I stacked at 55 and then I kept
• 4:55
  going down and I stacked up 50 and it just kept.
• 4:58
  Wait, wait, we still have dry powder left.
• 5:00
  What's going on here? Yeah.
• 5:01
  And then something else to like keep in mind, because I'm sure
• 5:04
  that this thought has come into people's minds.
• 5:06
  It's crossed people's minds. Like, wait a second.
• 5:08
  Like I, I had, you know, I had more money there.
• 5:11
  I bought it at 67. Now I'm getting at 50.
• 5:14
  What I say is like, no one knows whether it's going to go up or
• 5:16
  down. Like like no one has any idea.
• 5:19
  In the short term. In the short term and what I
• 5:23
  will say is that time in the market beats timing the market.
• 5:27
  I've never met someone that has been in this industry for a long
• 5:32
  time. There's always horror stories
• 5:34
  and especially from like the O GS that I've heard.
• 5:36
  I'm not going to name any names, but it's like I remember buying
• 5:38
  Bitcoin at $30.00 and then it went down to a dollar and it was
• 5:42
  horrible. Could you imagine like 30 to
• 5:45
  one? That's I don't even I don't know
• 5:47
  what that is in percentage terms, but that's a lot worse
• 5:50
  than what we just experienced and talking about Fiat world.
• 5:54
  Like, look, I, I, I'm still in bitcoins and, and maybe it
• 5:58
  again, it's because I have a couple cycles in me knowing that
• 6:01
  by bitcoins in self custody. Well, all these brokers a
• 6:05
  brokerages apparently went down and no one was able to access
• 6:08
  them. Could you imagine that like you
• 6:10
  just, you pull up that website and you're like, well, I can't
• 6:12
  access my money or I can't access My Portfolio or whatever.
• 6:16
  That is crazy to me. That's why I don't I, that's why
• 6:19
  I run my own node. That's where I take self
• 6:21
  custody. So I'm not dependent on anybody
• 6:23
  else. I'm dependent on myself.
• 6:25
  I think that's the key message. Here.
• 6:26
  Well, hey Nico, you know the best way to not sell your stonks
• 6:30
  and your bonds and treasuries is when you actually can't
• 6:33
  physically find the sell button. So it's all by design.
• 6:38
  But yeah, man, Nico, to your point.
• 6:40
  I wouldn't be, I wouldn't be surprised like if that was by
• 6:42
  design, like at this point, pro, after everything that I've seen,
• 6:45
  do you think it's Kamala's fault?
• 6:47
  What, what what is your quote? What is your?
• 6:49
  Quote, I will for sure blame the administration that is in
• 6:52
  control right now. What is unburdened by what has
• 6:56
  been or something? Is this what she meant?
• 6:58
  This is what she meant. This is what she meant.
• 7:00
  This is honestly, though, this is the Fiat apocalypse we've
• 7:04
  been waiting for. It's happening right now.
• 7:06
  It is very much reminding me of like the 2020 crash.
• 7:11
  And also there's a lot of correlations to like the 2008
• 7:16
  financial crisis. So this might be the big one.
• 7:18
  Like this might be the one that wakes people up to just how fake
• 7:22
  everything is. I I don't, I mean, obviously for
• 7:26
  us, I don't know if you saw that Naibukele tweet on Sunday night
• 7:30
  of like Burr, you know, like, you know what this means for us
• 7:33
  Bitcoiners. Guys, the money printers are
• 7:35
  turning on. It's about to get super bullish
• 7:38
  in here for us Bitcoiners. But yeah, man, you just love to
• 7:41
  see it. It is going to be huge.
• 7:43
  This is this is the, the discount everyone's been waiting
• 7:47
  on. And you just love to see it.
• 7:49
  Like Bitcoin, the most liquid market in the world doing
• 7:52
  exactly what is designed and to do while you know, the Asian
• 7:57
  markets are blowing up while there's a recession concerns in
• 8:00
  the US, TikTok next block, Bitcoins working exactly as
• 8:04
  designed. Bitcoins reacting to real time.
• 8:08
  What do you call it? Like real time market signals.
• 8:11
  And hey, if this is the big one and Bitcoin is still above 50K,
• 8:17
  what's going on here? It's almost like Bitcoins
• 8:20
  working exactly at the time. It's almost like Satoshi knew
• 8:22
  that we needed a, you know, a monetary system that is
• 8:26
  completely independent of the traditional financial system.
• 8:29
  It's almost like this is exactly as it's been foreseen.
• 8:34
  Just let me see it. So, and, and it's like, I think
• 8:37
  there's a couple questions, right?
• 8:39
  Question number one is, is Bitcoins bull run cancelled?
• 8:42
  We're going to talk about that. And then question #2 is what
• 8:46
  about that Trump comment though? Like we're going to write him a
• 8:50
  little check. Let's go a little check in
• 8:53
  Bitcoin. And honestly, like, as
• 8:56
  ridiculous as that clip was, it's like the only actual
• 9:01
  solution to the problem here. And The thing is like, I like
• 9:06
  just based on Twitter, if you're on the left, you just you still
• 9:11
  despise Trump for whatever reason.
• 9:13
  And then if you're on the right, you know, you're more of a Trump
• 9:15
  fan. But I got to say like, and this
• 9:18
  is what we're going to talk about today, specific during the
• 9:20
  news. Like like, I don't think it's a
• 9:24
  left to right issue. I don't think it's AII don't
• 9:28
  think you should be looking at it from any other direction.
• 9:30
  I think you should just be purely looking at it from like
• 9:33
  Opti just bury the lead there. Like Bitcoin truly fixes this.
• 9:37
  And what administration is going to kind of like Fast forward
• 9:42
  this? And I think it's it's clearly
• 9:46
  Trump or RFK. Like RFK is the ideal candidate
• 9:49
  just based on his speech at the Bitcoin conference, but I don't
• 9:52
  think he really has a chance of winning based on the polls.
• 9:55
  So like then it's Trump, right? It's orange man.
• 9:57
  And I got to say like, no one like Trump is 78 years old.
• 10:03
  Like, how are you? The first year you got into
• 10:05
  Bitcoin, like you didn't know Jack shit probably.
• 10:10
  So I mean, like he ain't doing bad in my opinion.
• 10:14
  And I and I think it will be pro like it would be pro, it be the
• 10:18
  entire, it'd be pro Bitcoin. The entire the, the
• 10:20
  administration would be pro Bitcoin.
• 10:22
  And then the opposite, which is another kind of narrative that I
• 10:25
  really want to break on today's episode, which is like this idea
• 10:28
  that like Kamala is going to reset by the current
• 10:32
  administration's view on big that is wrong in 1000 different
• 10:38
  ways. And I'll prove it to you today.
• 10:41
  So like just cuz they kind of buried it and then they're
• 10:44
  hoping that you're not paying attention, like doesn't mean
• 10:47
  that they've changed their stance on Bitcoin.
• 10:49
  And I think it boils down to like, the fact is that if you're
• 10:53
  pro Bitcoin as a politician, you're more pro individual
• 10:57
  freedom and you're more pro and individual being less reliant on
• 11:02
  government. And I think that for some
• 11:04
  politicians that's a negative thing.
• 11:06
  Well, also putting this in terms that politicians can understand,
• 11:09
  monetary policy is a bipartisan issue here.
• 11:12
  So like, you guys want to make this a partisan issue.
• 11:15
  A Bitcoin is just going to steamroll you and take your
• 11:18
  lunch. And we're seeing it play out in
• 11:20
  real time. And man, it just feels good
• 11:22
  being a bitcoiner. This is the everything fine meme
• 11:24
  right now. Like the Bitcoiners are the dog
• 11:26
  in the burning room. It's like, wait, what do you
• 11:28
  mean? Like I didn't even know the
• 11:29
  price dumped until I woke up Monday morning and looked at
• 11:32
  Twitter and it was like, oh wow, it was a bloody weekend.
• 11:35
  What's going on? My monetary network is as stable
• 11:38
  as possible and blocks are still coming in.
• 11:41
  But hey, I guess the world is reacting to a very real
• 11:45
  concerns, so a. 100% love to see it man Yeah absolutely.
• 11:49
  Well guys, seems like you guys are already enjoying the show
• 11:51
  and there's roughly 1000 of you guys watching live between
• 11:53
  YouTube rumble and X. If you guys are enjoying the
• 11:55
  show so far, make sure to smash that like button really pushes
• 11:58
  the orange signal forward. We're going to ask the question
• 12:01
  today is bitcoins bull run cancelled?
• 12:04
  I'll say no it isn't and that's what you shouldn't be paying
• 12:07
  attention to. Bitcoin is perfect money, what
• 12:09
  you should really be paying attention to if you really want
• 12:12
  a better future for you and your children.
• 12:14
  You should be focusing on the separation of money and state.
• 12:18
  Because if you want to know what the root of all evil it is the
• 12:21
  governments ability to control and manipulate money that pays
• 12:25
  for the endless wars that pays for all the insanity that we see
• 12:28
  in today's world. So you really want to fix the
• 12:30
  world, fix the money fix the world you separate money from
• 12:33
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  some cheap sats. All right everybody, let's hit
• 13:43
  the numbers lots to talk about today.
• 13:44
  Let's check it out, the Bitcoin numbers.
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  OK, Fireproof, waterproof, all those things.
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  Proof papers. Not on any of those things.
• 15:02
  Proof. Anyways, at the time of
• 15:03
  recording, the Bitcoin price is $54,710 sats per dollar.
• 15:09
  It's over. It's done.
• 15:10
  It's done and dusted. We're changing the the name of
• 15:13
  the show to simply Fiat. Simply broke 1000.
• 15:17
  Opti already has the plug with Christine Lagarde.
• 15:20
  Sats per dollar 1829 block height 855,531 blocks to having
• 15:26
  194,000 1469 having estimate March 23rd 2028 total lightning
• 15:32
  network capacity 4818 BTC capacity value $263,000,000
• 15:38
  Realized monetary inflation 1.47% market capitalization 1.08
• 15:43
  trillion with AT Bitcoin verse gold market cap 6.51% of the
• 15:49
  grand scheme of things. We are just getting started.
• 15:52
  Here is Patrick. Hey, wait, hey.
• 15:53
  Wait Nico, before you go, before you go, before I forget.
• 15:56
  Shout out to Steve B we got for chat already.
• 15:58
  Let's go $5. Thanks guys.
• 16:00
  Always good info and entertainment from Steve B
• 16:02
  Appreciate you bro. Thank you bro appreciate it
• 16:05
  appreciate it dude. Anyways, here's Patrick Bette
• 16:07
  David great content creator huge fan of his his his like network.
• 16:12
  What is it called value tainment.
• 16:14
  And here's a good take on essentially what happened.
• 16:17
  Brace for impact tomorrow opening of the market will
• 16:19
  reveal a ton few strange events taking place causing concern
• 16:23
  among investors. First one, rumors of an
• 16:25
  underground bunker in Jerusalem where senior leaders and remain
• 16:28
  for an extended period of time during a war, has been prepared
• 16:31
  by the Sheen Bet Security Service and is fully
• 16:33
  operational, the Walla news site reported on Sunday.
• 16:36
  Amid fears of Israel attacks on Israel from Hezbollah and Iran.
• 16:40
  The bunker, reportedly built almost 20 years ago, can sustain
• 16:43
  hits from a range of existing weaponry and has command and
• 16:47
  control capabilities and is connected to the Defense
• 16:49
  Ministry headquarters in Tel Aviv, report said #2 the Japan
• 16:53
  stock market. The Nikkei 225 is set to post
• 16:57
  its largest two day drop in history, larger than Black
• 17:01
  Monday crash of 1987. Three.
• 17:04
  Bitcoin is down 22% the last week, 10% just today.
• 17:09
  Ethereum is down 31% for the week, 21% for the day for four
• 17:14
  some trends showing the increased purchase of military
• 17:17
  stocks underway. This isn't fully verified, but
• 17:20
  you can see some patterns. I mean like the fact that
• 17:24
  Lockheed Martin pumped what, 3% while the rest of the market
• 17:28
  fall Bell is isn't that scary bro?
• 17:32
  That's freaking terrifying bro. Like I don't even know what to
• 17:36
  think of that. It's like the stock market is is
• 17:38
  crashing and everyone are like automatically thinks like.
• 17:41
  War wars coming. This is where Nico Nico, you
• 17:45
  already know the only way to keep the Fiat system going is to
• 17:48
  finance more wars. So World War three incoming boys
• 17:51
  and girls. Hopefully I'm older than the
• 17:53
  draft laws because. It's I think we are.
• 17:56
  We are now anyways. But yeah, no, that's so crazy.
• 17:59
  I mean, this is this is so nuts. The fact, I mean, Jeff Booth, I
• 18:04
  think like says it best, right? Is like the only way to keep a
• 18:08
  coercive system going is through like war, censorship and Fiat
• 18:15
  without a shadow of a doubt is a coercive system.
• 18:18
  So they have to like rely on these, these these tactics in
• 18:23
  order to get people to go along with the theft.
• 18:26
  And I think that's that part is like very, very scary.
• 18:29
  So you know, when we, because a lot of the things that we say,
• 18:32
  perhaps if you guys are new here, you, you, you, maybe you
• 18:35
  see it as hyperbolic, but like when we say fix the money, fix
• 18:39
  the world, like that includes ending endless wars.
• 18:41
  Like the reason that they can get away with the endless wars
• 18:44
  is because they have a Fiat money printer which steals from
• 18:47
  the populace and uses it to fund this like death churn machine.
• 18:52
  If you move to a Bitcoin standard, all of a sudden the
• 18:55
  government doesn't have the ability to just print money out
• 18:58
  of thin air to fund a conflict. The only way that they can raise
• 19:02
  revenue to fund a conflict is through direct taxation.
• 19:05
  And people aren't going or people are only going to be OK
• 19:08
  with certain things. They're not going to be OK with
• 19:11
  a 20 year war in Afghanistan, right?
• 19:13
  They're not going to be a war. They're not going to be OK
• 19:15
  funding World War three. Do you think people would be OK
• 19:19
  if you told them, listen, we're going to send hundreds of
• 19:22
  billions of dollars to Ukraine, however, we're going to have to
• 19:26
  raise your taxes in order to do that.
• 19:28
  I guarantee maybe the first time people would say, you know what,
• 19:32
  I for some reason, I support Ukraine.
• 19:35
  But by the second and third time, like people are going to
• 19:37
  say, like, you know what I like, I understand that what is
• 19:40
  happening in Ukraine is maybe important, but like, I got to
• 19:44
  put food on the table and I can't even afford housing.
• 19:46
  Like, what the fuck is going on? Like, that's going to be the
• 19:49
  conversation. But they get away with it
• 19:51
  because they have this mechanism in which they can steal from not
• 19:55
  only the American people, but the whole world because the US
• 19:59
  currency is the world reserve currency.
• 20:00
  So anyone who's holding dollars or using dollars to facilitate
• 20:04
  trade, like you're paying essentially the US government's
• 20:08
  bills. And that's not right.
• 20:10
  Anyways. Goes not to say some trends
• 20:12
  showing the increase of of purchase of military stocks
• 20:14
  underway #5 talks about Fed Reserve considering lowering
• 20:18
  rates half a point next month to stabilize the massive potential
• 20:22
  stock market loss in August. Number six, this part is
• 20:26
  interesting. Warren Buffett's Berkshire
• 20:29
  Hathaway dumped $75.5 billion worth of stock and halves apple
• 20:34
  steak. Like talk.
• 20:35
  Talk about timing the market, bro.
• 20:37
  They're now sitting on a record cash pile of $276 billion.
• 20:42
  Like, Jesus, man, this guy, I mean, he either knows something
• 20:45
  we don't, or the guys, just the guys just a goat.
• 20:48
  He's just lucky, man. Yeah, luck my ass.
• 20:52
  Anyways, what does all this mean?
• 20:54
  Nothing number two shit is about to hit the fan #3 Possible war
• 20:59
  three is imminent and America may be forced to get involved
• 21:01
  with Iran. Slash Israel if Iran attacks #4
• 21:05
  The overdue recession is finally here #5 Global recession after
• 21:09
  all the printing of money is here.
• 21:11
  Either way, I follow a basic rule.
• 21:13
  I lean 51% on future looking bright and 49% on only the
• 21:17
  paranoid Survive. God is good.
• 21:19
  I mean, that's a really good take.
• 21:21
  Pierre is Pierre Richard. He says Bitcoin is proving that
• 21:24
  it is the ultimate safe haven asset.
• 21:26
  Even the crisis, the network stays up, the exchanges trade
• 21:30
  24/7 and the market finds a healthy clearing price well
• 21:34
  above the 2022 low. Very impressive.
• 21:37
  I mean, this is a very optimistic way of looking at it.
• 21:40
  May, how is did Opti replace Pierre Richard?
• 21:44
  I don't know. Is Opti reading Pierre Richard's
• 21:46
  Twitter? Very, very optimistic acolytes.
• 21:51
  What I got to say too, what I got to say too is like, yeah,
• 21:54
  pure rashards to go. And what I got to say also is
• 21:56
  like, you know, the the fact that like, think about this like
• 22:01
  Bitcoin was trading all weekend, right?
• 22:04
  And the fact that like, if you're into stocks and you have
• 22:07
  to wait, you see all the calamity going and you have to
• 22:10
  wait till 9:00 AM and then all like all the brokerages or
• 22:15
  whatever fell at the same time. At least six trading platforms
• 22:18
  are down. City, Fidelity, E*Trade,
• 22:20
  Vanguard, TD Ameritrade, Charles Schwab, they all crashed at the
• 22:24
  same time. Like, could you imagine?
• 22:26
  Like, dude, I can't even, I can't even hit the sell button.
• 22:29
  Here's Doctor Ross. See, I think is a great take.
• 22:32
  This month we'll be reminded once again that we do not have
• 22:34
  free markets as many incorrectly presume.
• 22:37
  Rather, our monetary and financial markets are
• 22:39
  resoundingly centrally controlled.
• 22:41
  Keep your eyes peeled and your eyes open for announcements of
• 22:44
  major policy shifts from central banks, liquidity and lower rates
• 22:49
  incoming. I 100% agree and so does the
• 22:52
  president of El Salvador. He just tweeted yesterday at
• 22:56
  10:41 PM. Burr, of course, reaction to the
• 23:00
  calamity happening in the Japanese markets.
• 23:02
  Here's an NBC News article. It says American recession fears
• 23:06
  spark huge Japan sell off point to lower U.S.
• 23:10
  Open goes on to say U.S. stocks were on course for their worst
• 23:13
  opening of the post pandemic era Monday as Wall Street continued
• 23:17
  to react to worse than expected jobs data as well as a massive
• 23:21
  overnight sell off in Japanese markets and pre market Futures
• 23:25
  Trading. The Dow Jones Industrial Average
• 23:27
  dropped as much as 1000 points or 3%.
• 23:30
  The SNP was down 3.4% and the tech heavy NASDAQ slit set to
• 23:35
  slide by 5% at the open. That's mild compared to the
• 23:39
  pounding Japanese stock markets received overnight.
• 23:42
  One of the country's main stock indexes fell by 12.2%.
• 23:46
  Among the worst days since 1987's Black Monday, the sudden
• 23:50
  and unexpected global stock market crash that raised fears
• 23:54
  of a depression. While the route in Japan was
• 23:56
  driven in part by the US jobs data, traders added fuel by
• 23:59
  winding down so-called carry trades that had seen them
• 24:03
  barring at previously lower interest rates, offered for yen
• 24:06
  to buy assets more cheaply. But a rise in the value of the
• 24:10
  Japanese yen against the dollar, making assets more expensive for
• 24:13
  holders of other currencies, has suddenly made the carry trades
• 24:16
  less profitable. Monday's looming decline in U.S.
• 24:19
  markets would represent the third straight trading day of
• 24:22
  significant draw downs. While Friday's jobs report,
• 24:25
  which showed the US unemployment rate unexpectedly climbing to
• 24:28
  4.3%, caught Wall Street off guard, it also reacted to a
• 24:32
  weaker outlook from Amazon, as well as the growing belief that
• 24:35
  much of the recent run up in tech stops, which pushed the
• 24:38
  NASDAQ to a record high just a month ago, has been overdone.
• 24:42
  The idea was formed in response to recent signals from major
• 24:45
  tech companies that the payoff from artificial intelligent
• 24:49
  investments was still a long way.
• 24:51
  OK, so a lot to unpack here. But I think what a lot of people
• 24:55
  have to understand is, and this is we played you guys part of
• 24:59
  the cold opening in the beginning, is that like the
• 25:02
  reality is that at this moment, Bitcoin is acting like a risk on
• 25:06
  asset people are seeking. It's not a safe haven as people
• 25:12
  perceive it to be. I mean, how it's being trade, I
• 25:15
  believe it's a safe haven, but not the way, not the way that I
• 25:19
  think a lot of traditional investors would see it.
• 25:23
  To me, it's a safe haven because I know that even if World War 3
• 25:27
  happens, right, God forbid, knock on wood three times.
• 25:31
  I have my money. It's in self custody, right?
• 25:34
  And now I can take my wealth with me and I can bring my
• 25:37
  family with me without any type of, of, let's say, like any type
• 25:44
  of any type of, I don't know, Opti, what is the word?
• 25:48
  I'm looking for any type of barriers really.
• 25:52
  So like that, that it, to me, it's that that gives me Peace of
• 25:56
  Mind. And another aspect is like, yes,
• 25:58
  everything is down. Your purchasing power in Bitcoin
• 26:01
  has definitely gone down compared to where it was a
• 26:04
  couple days ago. You can't deny that.
• 26:07
  But again, I gotta say, I sleep much better knowing that my
• 26:12
  Bitcoin is in self custody and my Bitcoins in cold storage.
• 26:15
  And I know it's unaffected by all the madness and all the
• 26:18
  calamity that's happening in the world.
• 26:20
  And that gives me peace, right? And I've also as a bitcoiner,
• 26:24
  I've been I've been in this for eight years now.
• 26:28
  I've seen this happen time and time again.
• 26:30
  In fact, last bull market this same thing happened and I'll
• 26:35
  kind of walk it through you guys.
• 26:37
  I'll, I'll walk it, I'll walk you know, I'll, I'll kind of
• 26:40
  show you guys what happened last bull market and you guys could
• 26:45
  see that perhaps something is repeating.
• 26:47
  I hate to go over charts, but again, if you want to learn from
• 26:51
  the past. Dude, we're getting.
• 26:53
  Chart boy today, yeah, we're sure we're warning we're we're
• 26:56
  charting, but we're not going to draw any lines or anything.
• 26:58
  But anyways, this is what I want to show you.
• 26:59
  Do you guys see this huge drop that we had from 10,000?
• 27:03
  I think the end of the week was like it was pretty low.
• 27:06
  It was like 4. 1100 or something?
• 27:08
  That was the that was the COVID dump.
• 27:12
  Like this thing that happened here.
• 27:14
  Now, as you can see what came after that, right?
• 27:18
  The halving happened. It went from 3500 to 16 K, Then
• 27:22
  we kind of went sideways for a while.
• 27:24
  Then we had the COVID dump. People consider that a Black
• 27:26
  Swan event. And then we went from what,
• 27:28
  4000? And we pumped all the way up to
• 27:31
  what, $64,000 in a matter of months.
• 27:34
  I'm not saying the same thing's going to happen, but it's a very
• 27:37
  similar setup in the sense that the halving happened.
• 27:40
  We had like our pre halving pump, very similar to what
• 27:43
  happened in 2019 where we went from 3500 to 16,000.
• 27:47
  We kind of went sideways for a couple months.
• 27:49
  Then we had a, you know, Black Swan, whatever type of event,
• 27:52
  Bitcoin price dumped like 50% and then the things continued
• 27:57
  like usual. And then I think something that
• 28:00
  is also playing towards bitcoins advantage is also the fact that
• 28:04
  if the Fed does get involved and they start turning on the money
• 28:07
  printer and money printer go Burr risk on assets.
• 28:11
  The way that the investment world is seeing Bitcoin right
• 28:14
  now, like traditional investment world is seeing Bitcoin right
• 28:16
  now, they tend to go through the roof once money printer goes
• 28:20
  Burr. So, you know, as a bitcoiner, I,
• 28:22
  I don't like central banks, but you can't deny that, you know,
• 28:27
  if this continues, if this trend continues, central banks are not
• 28:30
  going to have an option but to change their policy.
• 28:35
  They're not going to have an option, right?
• 28:36
  That's the whole point of central banking.
• 28:38
  That's what Jeff Ross is saying. And I would say like this type
• 28:43
  of policy, I think has exacerbated things, make things
• 28:47
  worse over the long run. I think that they're short term
• 28:51
  solutions, but it starts to build up and I think that
• 28:54
  there's unintended consequences to them trying to control the
• 28:57
  market the way they are. But that's where I find peace in
• 29:02
  Bitcoin. And I think you don't stop it.
• 29:04
  I think that the bull market is still going to happen.
• 29:07
  I still think that 2025 is going to be an incredible year for
• 29:10
  Bitcoin. What's the what's the trend?
• 29:13
  Opti 3 green, one red, three and one red.
• 29:16
  Still, it still seems like that's following the trend.
• 29:20
  And I think that despite, you know, this, this bumpy day, I
• 29:25
  think it's going to continue to do that.
• 29:27
  Also something to keep in mind is that last cycle, I believe we
• 29:30
  had like 6:00 or 7:40 to 30 to 20% corrections in the entirety
• 29:37
  of the bull market. So this cycle is no different,
• 29:40
  right? It's something to keep in mind.
• 29:42
  Keep your eye on the prize. The prize is the separation of
• 29:45
  money and state that's going to make the world better.
• 29:47
  And of course, if you're saving and earning a Bitcoin, you're
• 29:50
  going to get wealthy in the process.
• 29:52
  That's my take Opti. Yeah, I mean, like I was saying,
• 29:55
  you know, sats on my stablecoin. I literally wasn't concerned
• 30:00
  over the weekend. I, I was kind of trolling that
• 30:03
  like, I'm, you know, there's recession concern, Stocks are
• 30:06
  getting absolutely obliterated and I'm over here just listening
• 30:09
  to boomer music with sats and cold storage, like chilling by
• 30:12
  the pool. Life is wonderful.
• 30:13
  I didn't even check the price all week and I knew things were
• 30:16
  going down. And as a bitcoiner, you're like,
• 30:19
  OK, the only thing that matters is that blocks are still coming
• 30:21
  in, Bitcoins working exactly as designed.
• 30:25
  And I think what we're seeing play out in real time is a
• 30:29
  rehash of what we've seen the last, what, close to 20 years
• 30:33
  since the 2008 financial crisis. We saw in 2020 as well.
• 30:37
  Like every financial market has become so intertwined that now
• 30:42
  once something breaks, it all breaks.
• 30:45
  Like this isn't just a Bitcoin market thing.
• 30:48
  If you're just watching the Bitcoin markets and you're
• 30:51
  wondering, oh, why is my Bitcoin price going down?
• 30:54
  Well, again, Bitcoin is still correlated with most of the
• 30:58
  financial financial assets of the world.
• 31:00
  Until it fully decouples. It's going to play out like this
• 31:04
  for a while, But once it decouples, it's going to be an
• 31:06
  extreme movement upwards. And as a Bitcoiner, you're not
• 31:10
  really concerned. Of course, we don't want to see
• 31:13
  the whole world burn for Bitcoin to win.
• 31:14
  I don't think that that's necessarily what has to take
• 31:17
  place. But as a Bitcoiner, someone
• 31:19
  that's been seeing this happen for a long time and probably
• 31:22
  been feeling like the boy that's cried wolf, we've known that
• 31:26
  this was going to happen. And it really does feel like
• 31:29
  this might be the Fiat apocalypse happening in real
• 31:32
  time. We'll see what happens.
• 31:33
  You know, I know everyone's out here waiting for Jerome Powell
• 31:36
  to come out and do this emergency meeting.
• 31:38
  Well, you know, breaking news. The Bitcoin CEO had an emergency
• 31:42
  meeting this morning. And the monetary policy of
• 31:45
  Bitcoin remains stable in the face of uncertainty.
• 31:48
  This is why we're Bitcoiners. This is why we understand that
• 31:51
  you need to have a parallel system that isn't connected to
• 31:54
  the traditional financial world. And in times like this is where
• 31:58
  you get the opportunity to get cheaper shats.
• 32:00
  But also on the flip side is when people start to wake up
• 32:03
  that everything is fake, that it's all running off hot air.
• 32:07
  And now they're going to start looking for alternatives.
• 32:09
  So continue to double down on the Bitcoin memes of, you know,
• 32:13
  21 million hard cap and don't trust verify because now people
• 32:17
  are waking up like this is the time that we've been waiting
• 32:19
  for. This is when Bitcoin will shine.
• 32:22
  And I think, you know, maybe this month will be a slow climb
• 32:25
  back upwards. You know, it's going to be a
• 32:27
  slow grime. We're still in the crap market
• 32:29
  right now, but more people are waking up to the fact that
• 32:33
  something is wrong in the financial world and the
• 32:35
  traditional financial system. There's something wrong when you
• 32:37
  see these kinds of signs. This is when people should be
• 32:40
  waking up and looking for alternatives.
• 32:43
  And I think we're seeing that happen this morning.
• 32:45
  I, I don't know, I don't have the numbers on top of my head
• 32:47
  right now, but we saw a billions of dollars of inflow into the
• 32:51
  ETF. So even though they aren't fully
• 32:54
  getting into spot Bitcoin yet, they're realizing, oh, wait, I
• 32:58
  might need to own something that isn't fully correlated with the
• 33:01
  traditional financial system. So at least the signal is
• 33:04
  spreading a little bit. Like it's our mean world and
• 33:06
  everyone else is just living in it and sitting up.
• 33:09
  They're all going to figure out that the only thing to hold is
• 33:12
  Bitcoin. Spot Bitcoin in cold storage and
• 33:15
  life is just so much better. It's just, it's beautiful.
• 33:17
  It's so much better. Like even if even with all this
• 33:20
  happened and I'm telling you guys like 20% is 20%, right?
• 33:25
  You just get used to it after a while.
• 33:27
  But I think that you find peace on our boy Rustin in the house
• 33:32
  starve simply Bitcoin originals, which he's going to be dropping
• 33:35
  a really good episode today, I believe Ruston going hard in the
• 33:39
  paint. He says Bitcoiners are chilling
• 33:41
  with Lieutenant Dan calling states state his pussy in the
• 33:45
  middle of the storm bringing you a bastard.
• 33:47
  Oh man, that's hilarious. No, but I mean, dude, like I
• 33:52
  can't emphasize that enough. And I think that's really the
• 33:54
  signal here because what you guys will find on YouTube today
• 33:57
  most likely is this like like OK, where's the price going
• 34:02
  next? And whoever tells you that like
• 34:06
  the price isn't important, important is just wrong.
• 34:09
  Like the the number go up is integral to Bitcoin success.
• 34:14
  It is like how people get convinced that Bitcoin is better
• 34:18
  money. It's the incentive.
• 34:20
  So I don't want to downplay that, but that's not the purpose
• 34:23
  of the show. The purpose of the show is to be
• 34:25
  your guide through the separation of money and state.
• 34:28
  Because there's two things with Bitcoin, right?
• 34:30
  You came for the you came for the money.
• 34:32
  You stayed for the revolution, right?
• 34:33
  Like that's the saying, so that's what I want you guys to
• 34:35
  focus on is why you here like why you here?
• 34:39
  What is the purpose of you being in Bitcoin?
• 34:41
  What is the purpose of you huddling?
• 34:44
  The purpose of you huddling is freedom, right?
• 34:47
  How do you get a freedom? Take self custody.
• 34:50
  You run your own node. That's how you stop being
• 34:53
  relying on other people. And I promise you bitcoins
• 34:57
  incentives will take care of the rest.
• 34:59
  You don't have to do anything and you're really like
• 35:03
  witnessing potentially, I don't know, I don't know if Opti is
• 35:06
  right or not. Perhaps he is.
• 35:07
  What you're witnessing is you're on a lifeboat and and you're
• 35:12
  seeing a ship go down and that ship is like making waves while
• 35:15
  it starts sinking. And you're on that life rope and
• 35:17
  you're starting to feel the waves, but you're on the best
• 35:20
  fucking lifeboat ever and you have a great view and you're
• 35:24
  safe and you're fine. So if you're on a lifeboat and
• 35:28
  you see a ship going down, what is your responsibility of
• 35:30
  someone in the lifeboat? You want to get other people on
• 35:32
  the lifeboat too, right? You want to say like, look,
• 35:34
  there's, you know, we can find safety here.
• 35:36
  We can find peace while this madness is happening.
• 35:39
  It's not a coincidence that the market coincides a war with with
• 35:49
  calamity and Fiat world. I think this is something that
• 35:52
  we've seen over the last 100 years, right?
• 35:55
  The last century was absolute. Like, I'm sorry guys, it was
• 35:58
  horrible, right? Like World War One, the Great
• 36:01
  Depression, World War 2, Cold War.
• 36:05
  We almost blew each other up during the Cuban missile cry.
• 36:07
  Like it was it was, it was bad, right?
• 36:10
  And I think Ron Paul says it best, right?
• 36:12
  It's not a coincidence that the century of central banking is
• 36:15
  also the bloodiest century in human history.
• 36:18
  That's what I got to say about this.
• 36:19
  So. Maybe.
• 36:21
  Stay alert, stay tuned. What is the end goal?
• 36:24
  The end goal here? Separation of money and state.
• 36:26
  It'll make the world a much better place.
• 36:29
  So yes, the you know, the volatility can hurt, especially
• 36:32
  if you're a new bitcoiner. This is your first cycle.
• 36:35
  This shit is terrifying. I remember Opti me and you got
• 36:38
  in roughly around the same time 20/16/2017 bro 20K to 3500
• 36:43
  sucked ass. It was bad.
• 36:46
  You know you were like oh this is great.
• 36:48
  I remember I was into mining back then.
• 36:51
  It just hashtag wrecked, you know, like laid the F out.
• 36:56
  Yeah, 70K to 50K is a cakewalk here, but anyways, I do want to
• 37:00
  respond to something to chat. Gulag goes opti.
• 37:02
  Just tell us what the F to do and tell us why you're so
• 37:05
  hopeful. Guys, it's super simple.
• 37:07
  If you have Fiat money sitting on the side, you should be
• 37:11
  stacking the dip right now. Make sure you are buying as much
• 37:14
  Bitcoin as humanly possible. But of course, like I responded
• 37:17
  to gulag, you know, also make sure you can eat food for the
• 37:20
  next couple of months and pay your rent.
• 37:21
  You know, that's where I'm at right now.
• 37:23
  My my Fiat is on the side so I can eat for the next month.
• 37:26
  But if you still have Fiat and you're waiting for the price to
• 37:29
  dump lower, you should just be stacking as much Bitcoin as
• 37:32
  possible. Make sure you take your Bitcoin
• 37:34
  off exchanges. If you're buying that Bitcoin on
• 37:37
  an exchange, figure out how to get it in the cold storage.
• 37:40
  Because the reason why I'm so hopeful is because I hold
• 37:42
  freedom money. I hold money that no small group
• 37:45
  of banker cabal can control. They can't manipulate my
• 37:49
  monetary policy. TikTok next block Bitcoin is
• 37:52
  working exactly as designed. It was made for literally this
• 37:56
  exact scenario that we're seeing play out in real time, and how
• 38:00
  could you not be happy? Literally stack Bitcoin and
• 38:02
  chill. That's all you got to be doing.
• 38:04
  If you're freaking out about the price, literally go outside, eat
• 38:07
  some good food, touch some grass.
• 38:10
  Everything is going exactly as designed.
• 38:13
  Bitcoins died hundreds of times and it's still here.
• 38:16
  Like this is great. This is a cake walk.
• 38:18
  This is rookie hold on this. Is rookie shit.
• 38:22
  What did? What did you say on?
• 38:23
  You tweeted it yesterday. You're like, wow, finally I feel
• 38:26
  something. Yeah, you know you're real.
• 38:28
  Bitcoin when you're Bitcoin, Bitcoin was acting like a stable
• 38:31
  coin for the last like, let's be real like three or four months
• 38:35
  and it was like I'll be honest with you guys that shit was
• 38:37
  boring. Opti and I were like bro, like,
• 38:39
  you know, we. Were I was black pilled and
• 38:41
  today I'm white pill. We were seriously discussing,
• 38:44
  you know, our purpose. And then now all of a sudden the
• 38:47
  volatility comes and I'm like, we're alive.
• 38:49
  We're back, baby. This is great. 50 bitcoins back
• 38:52
  in the paint. It's going in hard.
• 38:55
  Yeah man, it feels good. Like enjoy the ups and downs.
• 38:58
  Volatility is a good thing. Don't let anyone tell you
• 39:01
  otherwise. Volatility is how you get the
• 39:03
  gains. You wouldn't get these two 300%
• 39:06
  moves in a year if it wasn't this volatile to the downside.
• 39:10
  So just keep that in mind, right?
• 39:11
  Because the central bankers, they'll try to convince you of
• 39:13
  that to say volatility is bad, it's bad for markets, it's bad
• 39:16
  or whatever. Like, no, they're freaking
• 39:17
  lying, bro. Anyways, guys, it's going to be
• 39:19
  a great show. I'm going to talk about a little
• 39:20
  bit more of the political situation here in the United
• 39:23
  States during the news. Lots to get to still, guys.
• 39:25
  Stay tuned. Simply Bitcoin live the Daily
• 39:31
  News. I want to give a shout out to
• 39:34
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• 40:14
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  your Bitcoin off exchanges, this is the one for you.
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  Check out the Passport link. In the show notes below to learn
• 40:28
  more everybody. So back to what is actually
• 40:32
  important. I think a lot of people, a lot
• 40:37
  of people lose. They just lose their they don't
• 40:41
  understand, they take their eyes off the prize.
• 40:44
  The reality is this, ladies and gentlemen, for the first time in
• 40:48
  bitcoins history, it is a election year and the election
• 40:53
  will have a lot of consequences for the Bitcoin industry and
• 40:57
  Bitcoiners in the United States. And I think it's really, really
• 41:00
  important for people to keep their eyes on the prize.
• 41:03
  Now, there was a little bit of a bait and switch.
• 41:05
  You know, of course, Joe Biden dropped out of the race and
• 41:08
  Kamala kind of took his place. And a lot of people believe that
• 41:13
  with Kamala kind of stepping in, it's going to, quote UN quote,
• 41:16
  reset the political situation. And I just want to remind
• 41:20
  everyone that is not the case whatsoever.
• 41:24
  The terrible policies that have been in place for the last four
• 41:28
  years that I would say are spearheaded by Elizabeth Warren
• 41:30
  and Co. If Kamala Harris wins the
• 41:34
  election, they're going to be exacerb it, multiply that by 5
• 41:39
  because it's just going to be a check.
• 41:40
  It'll be like, yeah, keep going in that direction.
• 41:42
  That's a good thing. So that's something to keep in
• 41:44
  mind. And also everybody, you guys
• 41:46
  know the deal. We don't lean left or right.
• 41:48
  This is not a red or blue thing. This is not a left verse right
• 41:52
  thing. This is a just Bitcoin verse
• 41:56
  Fiat thing. Do you want to live in a world
• 41:58
  of Fiat, a world of slavery, nihilism, poverty, despair, or
• 42:02
  do you want to live in a world of optimism, peace, prosperity
• 42:05
  and hope? And that's the that's the world
• 42:07
  of Bitcoin. So just keeping keeping keep
• 42:10
  that in mind because you can't really do anything about the the
• 42:14
  price at the moment you as an individual.
• 42:17
  But I can tell you something specifically if you live in
• 42:19
  Nova, if if you live in the United States in November, you
• 42:22
  can vote, you can Fiat vote. I know it's very unpopular with
• 42:25
  some bitcoiners that are anti state Ruston, but you know, it's
• 42:30
  still it's still something to keep in mind and it's important
• 42:35
  to keep your eye on the ball regardless of what the
• 42:38
  volatility is doing. So anyways, to check out this
• 42:41
  article by Paul Krugman. Paul Krugman is our favorite
• 42:45
  Fiat journalist. He's he's, he's the one that
• 42:49
  basically made the case that the Internet was not going to amount
• 42:52
  to anything. He's he's a fan of central
• 42:55
  banks. He's a fan of Fiat currencies.
• 42:58
  He's just a nihilistic, hateful man overall, in my opinion.
• 43:01
  That's that's my take on the guy.
• 43:04
  Maybe I'm wrong there, but that's kind of like the vibe
• 43:07
  that I get many ways. There's an opinion piece that he
• 43:10
  wrote for the New York Times this same New York Times that
• 43:13
  has released hit pieces on Bitcoin that has release hit
• 43:17
  pieces that a Bitcoin is being used to fund financial
• 43:20
  terrorism. So let's just say the finance.
• 43:22
  The New York Times doesn't really like Bitcoin that much.
• 43:24
  I would say the New York Times is definitely on the side of
• 43:26
  Fiat. Anyways, he dropped an opinion
• 43:28
  piece called How 2024 became a crypto election.
• 43:32
  So let's check some of it out. He he goes on to say, quote, I
• 43:35
  didn't anticipate the political twists and turns of the past few
• 43:38
  weeks, but then who did? One thing I do blame myself for
• 43:42
  not seeing coming, however, is the extent to which this has
• 43:45
  become a crypto election six years ago.
• 43:48
  I argue that Bitcoin and other cryptocurrency serve no purpose
• 43:51
  and think about how elitist that is, right?
• 43:55
  If you live in the developing world, this is a fact.
• 43:59
  By the way, this is undisputable at the moment.
• 44:03
  You are most likely you've been exposed to some people like
• 44:08
  Bitcoin, but it seems like the a lot of people are using
• 44:11
  stablecoin, so they're using USDT and they're using it as an
• 44:16
  alternative to their local Fiat currencies in order to find
• 44:19
  salvation from what inflation. So he's talking from a place of
• 44:24
  privilege. He's talking from a place of I
• 44:26
  live in I, I, I happen to be born in a country that has a
• 44:31
  relatively stable Fiat currency that not that most of the world
• 44:36
  doesn't have that privilege. And that's exactly who Bitcoin
• 44:40
  is for, especially as Bitcoin continues to grow in market cap
• 44:44
  and as it continues to grow in market cap, you know, it's
• 44:46
  overall volatility. I would say what is is going to
• 44:50
  go down over the long term anyways.
• 44:53
  He goes on to say, quote, that their market value rested on
• 44:56
  nothing, but quote techno, techno Babble and libertarian
• 44:59
  derp. I think he's talking to you,
• 45:01
  Rustin. I stand by that judgement, which
• 45:03
  has actually been reinforced by the passage of time.
• 45:06
  But I didn't foresee how big, how big a deal crypto would
• 45:10
  nonetheless become, Not because it would fulfill its promise of
• 45:13
  replacing conventional money, which it hasn't and never will.
• 45:17
  I think he's going to be wrong about this, just as he was wrong
• 45:19
  about the Internet, but because it has become a powerful force
• 45:23
  that is, among other things, warping our politics.
• 45:27
  What is crypto? Donald Trump said recently,
• 45:29
  quote, Most people have no idea what the hell it is.
• 45:32
  Indeed, even now it's hard to explain exactly what Bitcoin and
• 45:36
  other crypto assets really are. But maybe this will help.
• 45:39
  Who guarantees that the money in my bank account belongs to me?
• 45:42
  Why can't the bank tell me? Quote, sorry, we use that money
• 45:45
  to pay other people. The answer is that doing so
• 45:48
  would be illegal. I don't even know what the fuck
• 45:50
  that means. What does that mean?
• 45:53
  Dude? I don't even that paragraph it
• 45:55
  it sounds sophisticated but like I it's just a bunch of bullshit
• 46:00
  in my opinion. Do you know what that means
• 46:02
  Opti? What did I just read bro?
• 46:04
  No clue. But maybe it's who guarantees
• 46:07
  that the money in my bank account belongs to me?
• 46:09
  Who can't the bank tell me quote sorry we use that money to pay
• 46:12
  other people the answers that doing so would be illegal.
• 46:15
  I mean it's not what banks do. Like I'm so confused.
• 46:20
  Anyways, OK, moving on. It's not only the New York Times
• 46:24
  that's releasing this too. It seems like the all out media
• 46:28
  legacy media attack. Here's a Verge article pump and
• 46:31
  Trump inside the MAGA fueled fever dream of the 2024 Bitcoin
• 46:36
  conference. By the way, you had all of
• 46:38
  legacy media at the Bitcoin conference.
• 46:40
  You had the Daily wire at the Bitcoin conference.
• 46:43
  You had Mike Knowles make an appearance.
• 46:44
  You had Russell Brand making appearance.
• 46:46
  So when I believe that this latest Bitcoin conference was
• 46:49
  definitely, you know, Bitcoin crossing the chasm, I really
• 46:53
  stick by that. And I think that the fact that
• 46:56
  it's entering the mainstream political discussion, I would
• 46:59
  say is a positive. As much as Bitcoiners say no,
• 47:02
  but you can't root for a single politician.
• 47:04
  I tend to agree with that. I would say that you definitely
• 47:08
  want the system that has the men with guns to be on your side
• 47:13
  rather than the system that has the men's with guns to be not on
• 47:16
  your side. I mean, look at all the
• 47:18
  lightning companies and lightning wallets exiting the
• 47:20
  United States. That's because the regulatory
• 47:22
  environment in the United States is somewhat hostile.
• 47:26
  You don't want more privacy developers to be arrested and
• 47:28
  locked in a box, right? You know, while the US
• 47:31
  government is continuing to fund wars, you know, and they're
• 47:33
  trying to lecture us about what you can't do and what you can do
• 47:37
  with code. I would say code is a form of
• 47:39
  speech protected by the 1st Amendment.
• 47:41
  If you don't care about politics, politics sure does
• 47:44
  care about you. And I think that's the message.
• 47:47
  And I'm going to keep on hammering until the election.
• 47:49
  Perhaps after the election, I'm just going to change the subject
• 47:51
  and not talk about anything. But I would say that it is
• 47:55
  important. It is important that either
• 47:57
  Trump or RFK win the election. Then I would say that it would
• 48:01
  suck ass if you know, the Biden administration, now the Kamala
• 48:05
  administration won this election from a regulatory perspective in
• 48:10
  the United States. And if you're building a Bitcoin
• 48:12
  business in the United States, I think that's something to keep
• 48:15
  in mind. Now, I know a lot of the things
• 48:17
  that you're going to say is like, look like, Nico, you know
• 48:21
  what? I just don't care.
• 48:23
  I have my Bitcoin in self custody.
• 48:25
  None of this is important. This is ridiculous.
• 48:29
  Stop being a status, stop cheering away, cheering on
• 48:32
  politicians. You don't actually know what's
• 48:34
  going on with Kamala. Kamala coming in as a reset.
• 48:38
  So today I'm going to try to make the case as to you could
• 48:42
  think those things, but I would still say it's somewhat
• 48:46
  important. And you could think those
• 48:47
  things. And I would say that no, Kamala
• 48:50
  is definitely on the side of of how the current Biden
• 48:54
  administration has treated Bitcoin in the Bitcoin industry
• 48:57
  as a whole. Now, I think this, this tweet by
• 49:01
  Elon, I think summarizes it a lot, right?
• 49:05
  Which is he goes on to say that guy that doesn't get it, I
• 49:09
  would, I would, I would prefer to have zero involvement in
• 49:12
  politics. And I think a lot of us feel
• 49:14
  that way. And he goes on to say, however,
• 49:16
  there is no company success unless civilization itself
• 49:19
  continues to progress, then then sane shift by the left away from
• 49:24
  a meritocracy and personal liberties.
• 49:27
  Censorship of free speech under the guise of hate speech will be
• 49:30
  the end of civilization as we know it.
• 49:32
  I tend to agree, not in the sense of the left and the right,
• 49:36
  but I think if you start to censor, if the state starts to
• 49:40
  censor, there's no good reason for them to do that.
• 49:43
  The only reason that they're they're doing that is because
• 49:46
  they don't have a good argument. They don't have a good policy
• 49:48
  argument. So I think this is all something
• 49:52
  to kind of keep in mind. It's something to internalize
• 49:55
  right, as the year goes by. Anyways, the next bit that I
• 49:59
  wanted to show you guys, which is the whole idea, right, that,
• 50:02
  you know, Kamala would come in and they were quote UN quote, be
• 50:05
  a reset. And you kind of see little
• 50:07
  inklings of this, right? As you know, the current
• 50:10
  administration has showed signs that they're willing to talk
• 50:14
  with the industry, but it seems like they back off after a
• 50:17
  while, right? They, they say, look, yes, Mark
• 50:20
  Cuban, we're going to have a, you know, talk with the whole
• 50:23
  industry, whatever, and then you never hear from it again.
• 50:26
  Here's David Bailey, CEO of BTC Inc.
• 50:28
  They're the owners of Bitcoin magazine, the Bitcoin
• 50:31
  conference. He goes on to say, if you're
• 50:32
  wondering about a Bitcoin reset by Democrats, Elizabeth Warren
• 50:35
  said, quote, I don't see a move towards a policy that embraces
• 50:39
  terrorists and ransomware scammers.
• 50:42
  Sounds like her and Kamala quote, Bitcoin is money for
• 50:45
  criminals. Harris are totally aligned and
• 50:48
  check this out. And I think this is the signal
• 50:50
  everyone as much as they've been trying to avoid this all
• 50:53
  together. On August 2nd, they quote
• 50:57
  tweeted a video by Trump and that was the video of Trump
• 51:00
  basically saying that he was going to try to pay off the debt
• 51:04
  by, you know, by using a crypto check or handing them Bitcoin,
• 51:10
  Dan McArdle says. So Kamala is using Trump's
• 51:13
  Bitcoin support to try and make fun of him.
• 51:16
  Yeah. How's that dem reset on BTC
• 51:19
  slash crypto going? And I think that's really
• 51:21
  important. I think they have to keep their
• 51:23
  heads down right now with the fact that the election is around
• 51:27
  the corner. I think a lot of their
• 51:29
  constituents are younger voters. Younger voters tend to hold
• 51:34
  Bitcoin and alternative and other cryptocurrencies.
• 51:37
  So I think they're trying to keep their head down and trying
• 51:39
  to get people to not pay attention to them.
• 51:41
  But I have no doubt in my mind that they have not changed their
• 51:45
  policy towards the industry. Not only does that video prove
• 51:48
  it, but look, they're currently in power right now.
• 51:50
  They have the ability to free Ross if they want to.
• 51:53
  They haven't, and I think that's something to pay attention to.
• 51:56
  Here's Max Kaiser. Max Kaiser went hard in the
• 51:59
  paint against Donald Trump, specifically when he was talking
• 52:02
  shit about Naimbu Kelley a couple weeks ago during his
• 52:06
  campaign rallies. I was a little bit upset about
• 52:08
  that as well. It seems like Trump has dropped
• 52:10
  that. And I think Kaiser has a really
• 52:13
  good point point here. Number one, copy El Salvador's
• 52:17
  Bitcoin policies #2 copy El Salvador's security policies.
• 52:22
  Kaiser goes on to say I'm cheering for Trump because I
• 52:24
  know what El Salvador is doing works.
• 52:27
  So, I mean, I don't know, guys. Look, I think these are
• 52:30
  uncomfortable situations. I'm the first uncomfortable
• 52:33
  conversations. I'm the first one to say that.
• 52:36
  But I think it's also important to keep in mind that look, like
• 52:41
  there's an election this year and elections do have
• 52:43
  consequences. And if you do happen to live in
• 52:46
  a swing state, I think your vote could potentially, you know,
• 52:52
  like it could help. I think if Bitcoiners make up a
• 52:54
  large part of the of, of the voter base.
• 52:58
  And I think as time goes by, we'll be a bigger, bigger and
• 53:02
  bigger, bigger part of the voter base.
• 53:04
  And it's something also to keep in mind is that Bitcoin doesn't
• 53:07
  need politicians to win. I just want to emphasize that
• 53:09
  enough. I'm already going to hear it
• 53:11
  from some people in the chat. I already know it in the
• 53:12
  Telegram chat or in the YouTube chat right now.
• 53:15
  But what I will say is that no, it doesn't need a politician to
• 53:19
  win. I would say that politicians
• 53:20
  need Bitcoin to win, which is why, you know, to use some of
• 53:24
  the people's words on Twitter, they're pandering for votes.
• 53:27
  You're absolutely right. They're absolutely pandering for
• 53:29
  votes. That's what politicians do.
• 53:32
  That's the whole point. But now our industry has gotten
• 53:35
  strong enough and influential enough where we can start to
• 53:38
  become a part of the donor base, right?
• 53:41
  And who runs American politics? The donor base here in the US,
• 53:45
  So I think it's a little bit of a little bit of reality for
• 53:49
  everyone in the chat. I think people innately are
• 53:53
  really against politics because politics essentially is the
• 53:57
  organization of power. And it can be very ugly, but I
• 54:01
  think, you know, you can bury your head in the sand and
• 54:04
  pretend it's not there, but it sure is.
• 54:07
  So I just wanted to give a little bit of AI want to give
• 54:09
  everybody a reality check while the price is volatile to get
• 54:12
  everyone's, you know, eye on the price to get everyone's head in
• 54:16
  the game because the the game is still happening regardless of
• 54:19
  what the price is doing. Anyways, up to you.
• 54:23
  Yeah. So starting off, how surprising
• 54:26
  is it that Paul Krugman couldn't predict the future?
• 54:28
  Like, Oh my goodness, I, I couldn't see that coming.
• 54:32
  Like, imagine my shock that Paul Krugman is wrong yet again and
• 54:36
  you just love that he's out here.
• 54:38
  Just a word salading at the New York Times opinion pieces.
• 54:41
  Or I think they took it down, I forget.
• 54:43
  Or is that might have been CNN. Anyways, Paul Krugman's been
• 54:47
  wrong about basically everything and he is a quintessential
• 54:51
  Keynesian Fiat economist where he's just doing mental
• 54:54
  gymnastics to try to continue to facilitate, facilitate and chill
• 54:58
  for the Fiat system. Like if you're still listening
• 55:01
  to Paul Krugman, as harsh as it sounds, then you deserve what's
• 55:04
  coming. And anyways, to that article
• 55:06
  point and to Nico's point, you know, Bitcoin and you know, for
• 55:10
  lesser effect, shit coin lobbying is literally the
• 55:13
  biggest funding arm right now in this election.
• 55:15
  So tell me our movement isn't important again, because
• 55:18
  obviously we know how American politics works.
• 55:21
  Lobbying is very important. And the bitcoiners out there
• 55:23
  that are putting their money where their mouth is, even
• 55:25
  though we all pretty much believe that the voting and
• 55:29
  elections in politics, it's fake or at least a facade here, at
• 55:34
  least there's people that are trying to get involved to
• 55:37
  actually make their voice heard. And it reminds me of the article
• 55:40
  that we dropped on our sub stack this morning.
• 55:42
  Shouts out to our boy over there, Zach, who keeps dropping
• 55:45
  the fire, the culture shift. It's literally about this name,
• 55:49
  this this exact topic, and I've been going back and forth on
• 55:52
  this because again, I I'm probably a broken record.
• 55:54
  I came to Bitcoin apolitical. I'm still very apolitical, but I
• 55:58
  understand that Bitcoin as a political money that is, you
• 56:02
  know, not from the left or the right that can't be controlled
• 56:05
  by anyone means. It's one of the most political
• 56:07
  things out there. Hence, while all the politicians
• 56:10
  are now either trying to garner our favor or actively attacking
• 56:13
  Bitcoin is because they understand, whether you think
• 56:16
  they're Adiq or smart, they understand the mechanisms of the
• 56:20
  world right now and it's all because of the money.
• 56:22
  It starts with the money, it end with the money.
• 56:24
  And if they lose their power over the money, then all of the
• 56:27
  crazy stuff that they try to push through Washington DC won't
• 56:30
  happen. And to your point about, you
• 56:33
  know, the reset and the the damned view on Bitcoin and
• 56:37
  crypto. I mean, I remember that they
• 56:39
  literally had a basically emergency meeting on Friday
• 56:42
  about resetting their stance on Bitcoin industry.
• 56:46
  So like what we're doing is super important.
• 56:48
  And now as we move into the limenight, as the Fiat world
• 56:52
  seems to be crashing, as Fiat apocalypse seems to be taking
• 56:56
  fold right now, Bitcoin is becoming that defining
• 56:59
  conversation right now. And people who have no stance on
• 57:03
  Bitcoin either are uninformed or they're malicious.
• 57:06
  And now everyone has to have a, a solution or rather a take on
• 57:11
  Bitcoin. And the fact that everyone is
• 57:13
  laughing at Trump right now when he's literally the only one
• 57:16
  saying the reasonable solution, even though it's, you know, you
• 57:19
  can say Trump doesn't fully understand Bitcoin, but you
• 57:22
  know, pay off the debt with a little Bitcoin check.
• 57:24
  Like as as as frivolous as that sounds, that's literally the
• 57:29
  only solution right now is they need Bitcoin.
• 57:32
  All politicians need Bitcoin. Everyone in the world needs
• 57:35
  Bitcoin because everything is dumping right now.
• 57:37
  Again, this is a market wide thing.
• 57:39
  This isn't just a Bitcoin thing. And you just love to see like as
• 57:43
  as polarizing as Trump is, he has thrusted the Bitcoin
• 57:48
  conversation into the limelight. And he's saying a lot of the
• 57:52
  things that as bit corners have been saying for a long, long
• 57:54
  time. And for better or worse, like
• 57:57
  it's part of the conversation now.
• 57:59
  And look, the only solution here is Bitcoin.
• 58:02
  This is why our show is called simply Bitcoin.
• 58:04
  And hey, he's saying all the things and all of the, you know,
• 58:08
  all the quote UN quote smart people are laughing at the only
• 58:11
  solution. And you just love to see it.
• 58:12
  Like, again, I, I want to save as many people as possible.
• 58:17
  This is why I'm a Bitcoiner. This is why we do our show in
• 58:19
  the 1st place. But hey, if you know, the Harris
• 58:23
  administration wants to come in and try to step on the neck of
• 58:26
  Bitcoin, like they're literally going to hurt more people than
• 58:31
  if they embrace Bitcoin. But this is where we are right
• 58:33
  now. This is the defining battle
• 58:35
  right now. It's the Fiat world versus the
• 58:36
  Bitcoin world. It's not left or right.
• 58:39
  It's the state and it hates you. So you need to get on team
• 58:42
  Orange. It is green versus orange and
• 58:44
  we're seeing this play out in real time and all of us that are
• 58:47
  bitcoiners right now are feeling giddy.
• 58:49
  We're feeling alive again, even though the price is dumping,
• 58:51
  we're like, OK, all right, it's our time to shine right now.
• 58:54
  Like give me some cheap sats. My sats are in cold storage and
• 58:58
  everything is going exactly as foreseen.
• 59:01
  You just love to see it. Like if you are not in the
• 59:03
  safety boats right now, if you're not in the exit route
• 59:05
  right now, then you should probably get some Bitcoin.
• 59:09
  And you know what a great show. I, I'm, I'm revitalized, Nico,
• 59:12
  I'm, I feel great right now. Even though we're poor more than
• 59:14
  we were yesterday, significantly, everything is
• 59:17
  great. Like, OK, that's all right, I'm
• 59:20
  alive again. This is when you know you're
• 59:21
  winning, when even in the face of defeat, you're like, Oh my
• 59:24
  gosh, this is great. This is exactly what we've been
• 59:28
  needing. And now, hey, it's going to be
• 59:31
  even more glorious by the end of the year once the Bitcoin price
• 59:33
  starts pumping. I mean we got someone in the
• 59:37
  chat. Want cannabis freedom?
• 59:40
  Then vote Democrat because Republicans are against it.
• 59:43
  Dude, that's minor. I mean like, OK, no, no, but he
• 59:46
  makes a really good point. I mean, I agree I'm.
• 59:48
  He makes a really good point, like I don't care.
• 59:51
  It makes a really good point. Like look, the the, our view on
• 59:54
  this is like fix the money, fix the world.
• 59:58
  And a lot of the issues that people are feeling right now is
• 1:00:03
  because of broken money. And if you start to focus on
• 1:00:07
  these other issues, which I'm not trying to downplay them,
• 1:00:10
  they could be very important to you as an individual.
• 1:00:13
  I think a lot of those issues that you're naming would be
• 1:00:16
  fixed by the separation of money and state.
• 1:00:18
  I think that the reason that the government has that much power
• 1:00:23
  to like influence society and make certain substances illegal
• 1:00:28
  is because of the money printer. It's because the money printer
• 1:00:32
  funds this unelected bureaucracy that remains in power no matter
• 1:00:35
  who gets elected. And it just continues to grow
• 1:00:39
  and grow the size of the federal government, right?
• 1:00:41
  So if you want smaller government, if you want more
• 1:00:44
  freedoms, I'm not trying to download downplay those issues
• 1:00:48
  that you're naming. But the fact is that, look, if
• 1:00:51
  you want more freedom for those issues, I would say you want
• 1:00:55
  smaller government. If you want smaller government,
• 1:00:58
  you want the separation of money and state.
• 1:01:00
  And there's currently two people on the docket that are pushing
• 1:01:04
  that forward. You have RFK, which has the best
• 1:01:06
  policy in my opinion, but he doesn't really have a big chance
• 1:01:09
  of winning. And then of course, you have the
• 1:01:11
  orange man that I could, I could see.
• 1:01:13
  And I can understand why he's divisive to some people.
• 1:01:15
  So I don't want to say it's a means to an end because I, I
• 1:01:18
  don't like that phrase whatsoever.
• 1:01:21
  But let's just say that there's someone who's marching forward
• 1:01:24
  Bitcoin policy in the United States, which are going to fix a
• 1:01:27
  lot of things down the road versus the other administration
• 1:01:30
  that is marching forward towards a central bank digital currency
• 1:01:34
  future. And I think those things that
• 1:01:37
  you mentioned are going to be the least of your problems if we
• 1:01:40
  live in a central bank digital currency society that is going
• 1:01:44
  to be a Society of straight up slavery.
• 1:01:46
  I don't want to live in that world that that sounds horrific
• 1:01:50
  in my opinion. So I respect what you're saying,
• 1:01:52
  but I think you got to you got to zoom out and really pay
• 1:01:55
  attention to what's going on. Anyways, everybody, let's get to
• 1:01:58
  the culture. I'm excited to talk about it.
• 1:02:00
  Let's check it out. The daily culture.
• 1:02:11
  We want to give a very special shout out of course to our
• 1:02:13
  sponsor and I'm talking about the orange pull apps.
• 1:02:16
  Stack friends who stack SAT join the 11,500 Bitcoiners that are
• 1:02:20
  currently on the app. The orange pull app is the
• 1:02:23
  Bitcoin social layer has a really cool geographical
• 1:02:27
  feature. So if you're travelling, if
• 1:02:29
  you're going to a new city, if you're going to a Bitcoin
• 1:02:31
  conference and you know anyone around you, you don't know
• 1:02:34
  anyone going to this conference. You could pull out the orange
• 1:02:36
  pull app and it will literally show you the bitcoiners that are
• 1:02:38
  near you. They'll show you the Bitcoin
• 1:02:40
  events that are happening near you.
• 1:02:42
  It's also one of the best ways to reach me directly.
• 1:02:44
  I don't really answer Twitter DMS or emails these days.
• 1:02:47
  So if you want to reach me, download the orange pull up,
• 1:02:50
  scan the QR code or check the link in the video description.
• 1:02:53
  You go to the orange pull up. You could send me Adm and every
• 1:02:57
  week or so, I take the time to answer every single one of you
• 1:03:00
  guys. So it's one of the great one of
• 1:03:03
  the best social media platforms for Bitcoin at the moment.
• 1:03:07
  So download the orange pull up today.
• 1:03:09
  All right, everybody. So I'm excited Opti all right,
• 1:03:12
  we're. We're we're going to just beat
• 1:03:14
  this dead horse today, Nico, you know, going to give you context
• 1:03:18
  of what we had over the weekend, Nico and I just kind of talked
• 1:03:20
  about it, but I'm also going to shift this and give you some
• 1:03:22
  more Bitcoin perspective on everything going on in the
• 1:03:25
  world. We keep telling you guys this
• 1:03:27
  every single day that Bitcoiners have the solution.
• 1:03:30
  And in terms of being a Bitcoiner, there's a lot of
• 1:03:35
  Silver Linings throughout this whole crash that we're seeing
• 1:03:38
  right now. It's like you know, the Fiat
• 1:03:39
  apocalypse is happening in real time and Bitcoin was meant for
• 1:03:42
  this. So if this is the this is it
• 1:03:45
  moment, then Bitcoin is working perfectly and everything is
• 1:03:49
  great. So shout out to Marty bent here.
• 1:03:51
  This was on Friday, I believe or no, this was over the weekend.
• 1:03:54
  This was yesterday, So Marty wrote this.
• 1:03:56
  He goes a recession looms in the US job numbers are down,
• 1:03:59
  unemployment is up, stock markets crashing national debt
• 1:04:02
  is as high as it's ever been. CRE bomb VIX is going up.
• 1:04:06
  Meanwhile, bitcoins fundamentals are strong.
• 1:04:09
  Morgan Stanley opened the floodgates.
• 1:04:11
  Volatility is flat. Well, now it's kind of down hash
• 1:04:14
  rates at all time high and we have orange man pumping orange
• 1:04:17
  coin. And you know the thing about
• 1:04:19
  having good spouses in Bitcoin shouts at the Internet, Sophie,
• 1:04:22
  she goes Japanese, Korean, U.S. markets are crashing.
• 1:04:25
  The UK is in flames. American politics is in shambles
• 1:04:29
  and bitcoins below 55 K. What a time to be alive and we
• 1:04:33
  should have saw this coming. This was on Friday, you know,
• 1:04:36
  shouts at the Jim Cramer, bless his soul, he's the best inverse
• 1:04:40
  indicator in all of the world. And he goes, NASDAQ futures are
• 1:04:43
  dropping as if it's the end of the world.
• 1:04:45
  Memo to all. It isn't well, you know, flash
• 1:04:47
  flow in a couple of days and it is.
• 1:04:49
  It's like everything's getting wiped out.
• 1:04:51
  You know, we covered this on Friday.
• 1:04:52
  Shout out to the Twitter team. 2.9 trillion wiped out of stocks
• 1:04:56
  this morning as global recessions fears, one of the
• 1:04:58
  worst days since COVID crash. And I hope you're saving in
• 1:05:02
  Bitcoin. But flipping this to the Bitcoin
• 1:05:05
  perspective. Shout out to the Jamison lot is
• 1:05:07
  like if you're sad about looking at charts, just switch to the
• 1:05:09
  Bitcoin dominance chart. It's almost like this market
• 1:05:12
  crash right now. People are realizing that you
• 1:05:14
  don't want to hold meme coins right now.
• 1:05:16
  Bitcoin dominance is all time high.
• 1:05:18
  Everyone is going to what we would call the safety asset, the
• 1:05:22
  risk off asset, which is of course Bitcoin or even further
• 1:05:26
  Tour de miser. Bitcoin is doing just fine.
• 1:05:28
  Just don't get distracted. And you can see this chart here,
• 1:05:30
  Bitcoin expressing commodities still doing very, very well.
• 1:05:34
  Everything is good in Bitcoin land.
• 1:05:36
  Or again, as Marty Bent was saying, Bitcoin is the most
• 1:05:39
  liquid market in the world because of its properties.
• 1:05:41
  It's scarce, divisible and saleable.
• 1:05:44
  It is also the only market outside of bodega cigarettes
• 1:05:46
  that trade 24/7, 365 days a year.
• 1:05:50
  It makes sense that it would sell off on a Sunday night as
• 1:05:52
  markets are melting. So as the world is melting, as
• 1:05:55
  the Asian markets are are melting, as the yen carry trade
• 1:05:59
  in Japan, markets blow up. Bitcoin trades exactly as
• 1:06:03
  designed 365. It literally trades every single
• 1:06:06
  day, every single minute of the day and it's a real time metric
• 1:06:09
  of what's going on in the world. Bitcoin has a way of predicting
• 1:06:12
  where the markets are going. It's the first thing that is
• 1:06:15
  going to be volatile as everything else catches up to
• 1:06:18
  it. But it's going to bounce back as
• 1:06:20
  hard as it goes down. As we see it's already up over
• 1:06:23
  around 55 K. It went under 50K and we're good
• 1:06:26
  or you know, Nico played this video for us.
• 1:06:28
  We have never been down 1000 plus points ever, not even an
• 1:06:32
  intraday on the NASDAQ. So as it's super bloody, Bitcoin
• 1:06:36
  is just doing exactly as seen. And then we got this epic tweet
• 1:06:40
  here from Trump on Truth Social. Trump reacts to the market crash
• 1:06:44
  and this was an old tweet here and he goes, oh, wait, this is
• 1:06:47
  the wrong one. Sorry.
• 1:06:48
  He said something on the lines of if the administration hasn't
• 1:06:51
  1000 plus point down day, then something needs to change.
• 1:06:56
  But I got the the wrong one and Trump just goes stock market's
• 1:06:58
  crashing. I told you so.
• 1:07:00
  Kamala has no clue. Biden is sound asleep.
• 1:07:02
  All caused by inept US leadership.
• 1:07:04
  All right now relaying this back to the past.
• 1:07:07
  And Nico was saying earlier, I don't know if it's going to
• 1:07:09
  respond like it did in the 2020 market crash.
• 1:07:12
  Well, it's setting up exactly as it did in 2020.
• 1:07:16
  Of course, we're not much of TA traders here, but the past does
• 1:07:22
  kind of tell you what's going to happen in the future.
• 1:07:24
  And you can see here is A2020 crash and and it looks like we
• 1:07:27
  are setting up perfectly to see an epic end of the year.
• 1:07:31
  That's some TA bro. We're going TA today bro.
• 1:07:34
  I told you we're going to get chart hard today.
• 1:07:36
  Already drawing lines when I did.
• 1:07:39
  It well, you know, we're drawing some lines, but as you guys can
• 1:07:42
  tell we do constantly refer to the Wall Street market
• 1:07:47
  psychology chart. Well, we have an updated version
• 1:07:50
  and it seems like this is where we are guys, we've seen this
• 1:07:53
  before. Sell off bear trap pump pump
• 1:07:56
  just goes nuclear. So again, I've been saying for a
• 1:07:59
  while it seems like we are going to have an epic end of the year
• 1:08:02
  again, referencing Marty because Marty's been on point for the
• 1:08:05
  last couple of months about what's going on.
• 1:08:07
  This was his tweet this morning. The great leveraging is upon us.
• 1:08:10
  This is the consequence of many years of papering over systemic
• 1:08:14
  risk with manipulated interest rates in.
• 1:08:16
  We'll see what Jerome Powell says today, or if he doesn't,
• 1:08:19
  which would be even just as interesting.
• 1:08:21
  Post 2008, the global financial system has only become more
• 1:08:24
  intertwined and this crisis will be worse.
• 1:08:27
  Or as our boy Big Sean Harris was saying, the dollar is
• 1:08:30
  broken. It's been broken for years.
• 1:08:32
  We've been telling you this every single day.
• 1:08:33
  But finally we get a real time example of this happening. the
• 1:08:36
  Fed once again shows it's awful at forecasting when to lower
• 1:08:40
  slash raise rates. They are best reactionary and
• 1:08:43
  only waiting until something breaks to lower slash rate raise
• 1:08:46
  rates. These massive swings are signs
• 1:08:48
  that the US is circling the drain.
• 1:08:51
  Now if you're wondering what the big bucks are doing, the smart
• 1:08:54
  money is doing out there and whether you should be buying
• 1:08:57
  Bitcoin or not or you should be selling it because of
• 1:08:59
  uncertainty, well, shouts out the Arkham Intel.
• 1:09:02
  You guys are selling your coins, but BlackRock, MicroStrategy,
• 1:09:04
  Grayscale and Fidelity aren't. Everyone that knows what's going
• 1:09:08
  on is buying. You're seeing a massive inflows
• 1:09:10
  into the ETFs right now guys. It's exactly as designed or
• 1:09:14
  doubling down on what happened on Sunday.
• 1:09:16
  According to coin market cap, there's been $100 billion of
• 1:09:19
  Bitcoin trading volume in the last 24 hours while traditional
• 1:09:23
  markets are closed and stock brokerages are not working.
• 1:09:26
  Incredible. Bitcoin has created a very
• 1:09:28
  liquid and efficient market despite the adversity or you
• 1:09:32
  know, I got to end it on meme. Shout out the dock Bitcoin over
• 1:09:35
  here watching markets open on Monday morning.
• 1:09:37
  You're just chilling there, guys.
• 1:09:38
  Nothing to be worried about Yes, you know, your purchasing power
• 1:09:41
  went down in terms of Fiat, but everything is going exactly as
• 1:09:46
  designed. We've foreseen this happen
• 1:09:48
  before. This might be the big market
• 1:09:50
  crash that everyone's been saying is going to happen.
• 1:09:53
  We'll see what happens. But as far as us bitcoiners are
• 1:09:56
  concerned, it means one thing money printer is going to turn
• 1:10:00
  on, which means the Bitcoin price is going to go absolutely
• 1:10:03
  nuclear. They have to paper over this
• 1:10:05
  crisis if it is a crisis. We'll see what's happening, but
• 1:10:08
  it does seem like the world is finally waking up to the fact
• 1:10:11
  that we've been in a recession for a long time.
• 1:10:13
  And now as the market to react to that, more people are going
• 1:10:16
  to look for alternative assets to save in.
• 1:10:18
  More people are going to wake up to the fact that the legacy
• 1:10:21
  media is nothing but propaganda Shields for the Fiat system,
• 1:10:25
  that the Paul Krugman's of the world's are nothing but Shields
• 1:10:27
  for the Fiat system. And the only ones with an actual
• 1:10:30
  solution are the big corners out there.
• 1:10:32
  We're the ones with the solution.
• 1:10:33
  And they're making fun of people talking about this.
• 1:10:36
  So as we're seeing this divide happen in real time, there's,
• 1:10:39
  you know, the people that want to neuter the Bitcoin industry
• 1:10:43
  and there's the people that are actively promoting the Bitcoin
• 1:10:45
  industry. You know, they're laughing at
• 1:10:47
  Trump about saying, oh, we're gonna back the dollar in a few
• 1:10:49
  years. We're gonna, you know, give them
• 1:10:51
  a Bitcoin check. Even though the, the, the
• 1:10:53
  verbiage there is ridiculous, it goes to show that there is a
• 1:10:57
  divide right now. And the people that are asleep
• 1:10:59
  at the wheel, which are literally the people that are in
• 1:11:02
  control, that are supposed to know what's going on, have
• 1:11:05
  absolutely no clue what's going on.
• 1:11:07
  Or rather publicly, they're telling you that they have no
• 1:11:10
  clue what's going on. They're signaling that, oh, we
• 1:11:12
  can fix this, guys. But people are waking up to the
• 1:11:15
  fact that the system is broken. It's fundamentally broken.
• 1:11:18
  So as we have the Fiat apocalypse play out in real
• 1:11:20
  time, maybe we're being hyperbolic.
• 1:11:22
  Maybe they're going to paper over this again.
• 1:11:24
  You know, everything's too big, the fail now, everything's too
• 1:11:26
  intertwined. So they're going to continue to
• 1:11:29
  print money. All you have to do is save in
• 1:11:32
  Bitcoin, take that Bitcoin into cold storage, Make sure you're
• 1:11:35
  running a node. You know, if you want to, if you
• 1:11:37
  want to partake in the Bitcoin mining space, you know, get
• 1:11:40
  yourself a bid act right now. But there's no need to panic
• 1:11:43
  right now. This is the time that we were
• 1:11:46
  made for. This is when legends are made.
• 1:11:48
  Right now, continue to stack. If you like Bitcoin AT70K,
• 1:11:51
  you're going to love it at 50K. Nothing's changed on the Bitcoin
• 1:11:54
  network. The world is going up in flames.
• 1:11:57
  And as much as we don't want to see the world go up in flames,
• 1:11:59
  as much as I troll about, you know, accelerate here, we don't
• 1:12:04
  want to accelerate this process because that means more people
• 1:12:07
  are going to get hurt. More people are going to, you
• 1:12:09
  know, not be here with us. But those that continue to
• 1:12:14
  double down on the revolution of separating money and state,
• 1:12:18
  which we're seeing happen in real time, we're seeing the
• 1:12:20
  conversation play out. You're going to win.
• 1:12:23
  Continue to stack. Stay solvent.
• 1:12:25
  Stack stats. This is the way as you see the
• 1:12:28
  legacy media continue to tell you that everything is all
• 1:12:31
  right. The lies, the perpetual lies
• 1:12:34
  that they try to feed us are becoming more and more exposed
• 1:12:37
  in real time, and they can't avoid this anymore.
• 1:12:41
  As a Bitcoiner, it's our duty to continue to beat the meme of
• 1:12:44
  don't trust verify into the heads of our normies.
• 1:12:47
  Metaphorically, of course, because now is the time to
• 1:12:50
  shine, guys. We have the truth on our side.
• 1:12:52
  We have the solution and now it it's it's in real time showing
• 1:12:57
  us that they they can't stop this train.
• 1:12:59
  They have to continue to print the money, which means
• 1:13:02
  everyone's going to get poorer. Everyone's going to look for a
• 1:13:04
  solution. The trust in the system is being
• 1:13:07
  lost in real time and those people in power are going to
• 1:13:10
  continue to say the same thing. Trust us guys, we're going to
• 1:13:14
  fix this. Well, they can't fix this.
• 1:13:16
  Saving Bitcoin, this is the only way to win.
• 1:13:19
  You need to save in Bitcoin right now.
• 1:13:21
  Double down, triple down, sell all your chairs, whatever you
• 1:13:24
  got to do. You need to stack more Bitcoin
• 1:13:26
  because it's only going to get crazier as we move forward.
• 1:13:29
  But we have the solution. We have the clarity that we
• 1:13:32
  have. We have the the money.
• 1:13:34
  We are the ones with the real money here and the world is
• 1:13:37
  waking up to and you just love to see it, man.
• 1:13:39
  It's going to be a glorious end of the year, is all I'm going to
• 1:13:41
  say. What can be unburdened by what
• 1:13:45
  has been? Oh man, what a fucking line.
• 1:13:54
  That means a whole lot of bullshit, dude.
• 1:13:57
  I mean, is she talking about Bitcoin?
• 1:13:59
  I think she is. She is.
• 1:14:00
  She is, yes. I think she is, yeah, dude, I
• 1:14:04
  mean, look, I think you know, I think you did a great summary.
• 1:14:09
  Just absolute calamity happen in the markets.
• 1:14:12
  I, I, I agree, I think Bitcoin is going to have a great end of
• 1:14:16
  the year. I think it's going to have a
• 1:14:17
  great 2025. And you know what, whatever is
• 1:14:21
  happening up, whatever, whatever's happening in clown
• 1:14:23
  world, you know, just remember we're on the life raft and what
• 1:14:29
  can be unburdened by what has been, you know, such a good
• 1:14:34
  fucking lie. But like it means I don't know
• 1:14:37
  what it means. No one does, but it's
• 1:14:39
  provocative. No one does, but it's
• 1:14:41
  provocative. That's absolutely right.
• 1:14:43
  But really, but really it does make a point here.
• 1:14:46
  And the point is, is no matter the crazy stuff going on in
• 1:14:49
  Clown World, all of the distractions, we're seeing that
• 1:14:52
  there is a very active divide and conquer strategy going on
• 1:14:56
  right now. You always bring it back to the
• 1:14:58
  important issues, which is the money.
• 1:15:00
  If we continue to focus on the signal of it's the economy, the
• 1:15:05
  problem is the Fiat money, the money is broken.
• 1:15:09
  They don't have the solutions for this.
• 1:15:10
  And you can continue to expose all of the ridiculousness coming
• 1:15:14
  out of the, you know, Fiat culture that they have no clue
• 1:15:18
  what's going on. That's why they're trying to
• 1:15:19
  distract you with all of the crazy stuff going on is because
• 1:15:22
  the economy is broken and they have to have slight of hand
• 1:15:26
  movements. They got to manipulate the Fiat
• 1:15:28
  the the Fiat economy for things to continue to go on.
• 1:15:32
  They. Got to turn on they are freaking
• 1:15:34
  propaganda machine on OverDrive like they have been.
• 1:15:37
  We should just Co opt that that we should just Co opt that that
• 1:15:40
  phrase like we should make it a Bitcoin phrase like what can be
• 1:15:44
  unburdened by what has been Yes. Let's let's you know you know
• 1:15:47
  what that really means out guys, you know what that mean means of
• 1:15:50
  what has been and wait, what what what is it?
• 1:15:53
  Be unburdened by what it means. Diminishing returns is a LARP.
• 1:15:58
  It's a meme and the price is going to.
• 1:16:00
  Go nuclear. Because what?
• 1:16:02
  Can be is unburdened by what has been, which means the price
• 1:16:06
  action from the past does not mean it's going to stay the same
• 1:16:09
  moving forward when everyone is realizing there is a fundamental
• 1:16:13
  problem to the system. Yeah, exactly what can be
• 1:16:17
  unburdened by what has been. Anyways guys, I hope you guys
• 1:16:21
  enjoyed the August 5th episode of Simply Bitcoin Live.
• 1:16:25
  I'm your host, Nico, my legendary Co host, Optimus
• 1:16:28
  Fields. If you guys enjoyed the show,
• 1:16:29
  you know to do smash the like button, consider subscribing and
• 1:16:34
  don't worry, we'll be back tomorrow for a brand new episode
• 1:16:37
  of simply Bitcoin live. Take advantage of these cheap
• 1:16:41
  prices to stack those cheap, cheap sats.
• 1:16:44
  I don't think we'll be here for a very, very long time, so it's
• 1:16:48
  a probably a good idea to get some just in case it catches on.
• 1:16:51
  All right, everybody, love you all.
• 1:16:52
  We'll be back tomorrow for a brand new episode of Simply
• 1:16:55
  Bitcoin. It's over.
• 1:16:56
  Live Should we Should we rebrand Simply Bitcoin Fiat simply broke
• 1:17:00
  This episode was brought to you by bitcoinwell.com on a mission
• 1:17:08
  to enable independence.