Latest / Simply Bitcoin / How Bitcoiner's Knew Celsius was Always a Scam | EP 505
Transcript
- 0:04Welcome to Simply Bitcoin where we covered the bitcoin news
- 0:07culture of the memes, the fails all of it, the whole nine yards
- 0:11Phil is still not doing the intro today.
- 0:13He's still setting up today. We have a very special guest de
- 0:17legendary BTC sessions. How you doing Ben?
- 0:20I'm great man, I'm glad to be here.
- 0:22Thanks for having me again. Well, we're gonna start the
- 0:25show. That is the best hair in the
- 0:27business him and Stacey Herbert are.
- 0:30In for it. Anyways Phil let's get to the
- 0:32Numbers number time, brought to you by not all they make some of
- 0:35the best Bitcoin oats like the famous novel Dojo, it's in red.
- 0:40That means it's faster. Run your own version of Bitcoin
- 0:42core and the lightning Network, all in the comfort of your own
- 0:44home ever. Guys, if you don't run your own
- 0:46Bitcoin core, I mean Bitcoin node, you're using someone
- 0:49else's. That's a big No-No for privacy.
- 0:51Get yourself a novel today at the time of this recording, the
- 0:53blockheaded 740,000 659, the Bitcoin, price 20 3270.
- 1:00Chain rewrite a 747 total public lightning capacity Nico.
- 1:04Where's that chicken 4003. All right, here we go.
- 1:11Moscow time, 42, 97 blocks to The Happening.
- 1:14Look at us, 90 9341 and the samurai Whirlpool.
- 1:20Unspent capacity, Samurai Whirlpool is a coin or
- 1:23collaborative spend. It is not a mixing service and
- 1:27the unspent capacity for that pool is 4590. 3.20 Nico.
- 1:34Those are the numbers. I'm happy to be back and you're
- 1:37right. I do need some type of
- 1:38dampening. I told you he's gonna you're
- 1:42gonna have to order something on Amazon.
- 1:44Anyways it's good. We like the echo of for anyone
- 1:47who's confused. Why I pulled out a chicken, this
- 1:49is Satoshi the Bitcoin chicken. He clucks every time the price
- 1:52of Bitcoin reached an all-time high, but feel confused it with
- 1:55the lightning Network reached an all-time high.
- 1:57The lightning network is in increments of five hundred,
- 2:00right? So just broke 4000, we have the
- 2:02lightning effects for that, which I'll put in right now.
- 2:05Anyways, I wanted to cover something really interesting
- 2:09today. Advantage of someone that we
- 2:11look up to because there's really two types of Bitcoin
- 2:16content creators. Right?
- 2:17There are the companies and their, the independent content
- 2:20creators Ben is one of our favorites.
- 2:22He's a big inspiration for us and he's just great so we'd love
- 2:26to get his takes on this first is a very angry comment.
- 2:30This usually happens when the price of Bitcoin goes down you
- 2:33get text messages from your mom, from your parents.
- 2:36And are you okay? And then you get text messages
- 2:39from some Scribers that are just they don't understand right and
- 2:42they get very upset. So let me read this first one by
- 2:45philosophical art. He said ha ha.
- 2:49Ha ha ha desperately promoting bit space coin so he can get his
- 2:55cash out ha okay so yeah I mean how are we promoting it know
- 3:02what we're advocating for is better money, change your unit
- 3:06of account. Now the volatility of Bitcoin on
- 3:09a year-by-year Our basis is crazy but you kind of need that
- 3:12volatility if you want to go to the moon, right?
- 3:14But if you zoom out right, the volatility really goes, only one
- 3:19way it goes up and to the right, right?
- 3:23If you go to price and Bitcoin, right?
- 3:26The dollar is like down 90% towards Bitcoin in the last 3
- 3:30years, I'll pull up the the actual info for you guys.
- 3:33So yeah the volatility in the short term is debt could
- 3:36definitely get crazy especially moments like this and the macro
- 3:39environment is Crazy. The FED is hawkish, right?
- 3:42So that influences a little bit. So yeah, man, look, zoom out.
- 3:47It dis is not for everyone. I guarantee you philosophical
- 3:50art in two or three years, you're going to be bummed out
- 3:53that you didn't buy Bitcoin at this discount.
- 3:56Anyways. BTC been, what are your thoughts
- 3:58on this? And they'll pass it on to fill
- 4:00dude, it's always depending on where we are in the market.
- 4:04You always have a different set of people saying I Told You So
- 4:08and both are wrong. Right?
- 4:10And so in the in the bear markets, all of the no coiners
- 4:14are telling you told you. So I told you so big coins,
- 4:17dropping in the bull markets, all of the shit Corners are
- 4:21saying, told you. So we're going up more than
- 4:23Bitcoin. They're both wrong.
- 4:25They just think they're right in the moment.
- 4:27And so you see this cyclical all the time, but bitcoiners get to
- 4:32be stoics and just sit through that and just quietly,
- 4:35understand that all get to, you know, after the fact tell Them I
- 4:40told you so but there's always going to be somebody in your
- 4:42face. That is once again wrong
- 4:46thinking that the right. It's just it's part of being a
- 4:49Bitcoin Ur. Absolutely right.
- 4:51I could not have said it better myself.
- 4:52Phil I'm going to read some is from the infamous Neil Jacobs to
- 4:57eat a lot of angry people in his comments.
- 5:00Let me read some notable ones. First one by Michael.
- 5:05A I can't read. You can't read you guys know the
- 5:10drill guide guide, anyways, goodbye, shh.
- 5:15Good thing. I didn't mortgage my house to
- 5:17buy Bitcoin. That'd be a very terrible.
- 5:20I mean, it depends how long your time scale is and how crazy
- 5:25you're going. If you're going apeshit, I think
- 5:27it is a bad idea if you're just taking a little nibble.
- 5:31Mmm, it's okay. I guess really depends.
- 5:34So next one. Bye.
- 5:35Keith liner. How about your business that was
- 5:39developed by three generations before you?
- 5:41That your family depends on shit.
- 5:44Seiler said next one by Nicolas, do I feel sorry for bitcoiners.
- 5:49No, not at all the market. Gave them plenty of time realize
- 5:53their profit realized what profit into what until what.
- 5:56Yeah. Now is the Judgment Day for
- 6:00their greed. These people are really angry
- 6:03and the next one. Bye, Keith, Keith isn't going
- 6:05away. No doubt, many did.
- 6:07Realize their profit by selling to the next Speculator.
- 6:10There is no way for everyone to avoid the losses of a pyramid
- 6:13scheme, though. A few nipple ones can sneak out
- 6:16the door before the crush very angry.
- 6:19People a lot of hatred in there. Phil, what are your thoughts on
- 6:24Keith and nicolay? What are you responses to them?
- 6:27Pretend, they're in the room there on the zoom call right now
- 6:31and you have to look at them directly in the eyes.
- 6:33What are you going to say? I'm just gonna tell them that.
- 6:35You know what? I honestly In salty, no coin or
- 6:39tears. Okay.
- 6:40And the fact their comments simply tell me that they do not
- 6:44understand Bitcoin and the same way that technicians love to
- 6:48cherry pick specific timelines to either prove or disprove,
- 6:52what, you know, somebody else's narrative whatever it is, this
- 6:55is the same thing with the no coiners.
- 6:57Look, you know, I completely understand the, his point about
- 7:01the mortgage. Hey, listen, I know people who
- 7:03have mortgaged their freakin house to go on vacation.
- 7:05Human stupidity is infinite. It.
- 7:07Okay, that being said, you can actually go.
- 7:11And if you, if you handle your finances correctly and you're
- 7:15not going and dipping into what you're using for daily expenses.
- 7:19If you choose to mortgage your house to put it into the most,
- 7:24the the most secure, finite asset that has ever been known
- 7:27to man. Yeah, I don't really consider
- 7:29that really stupid. But I am going to make a point
- 7:32about the people who sat there screaming about get on zero, you
- 7:36know, the no coiners A certain extent had a point about them,
- 7:39right? Because that narrative was too
- 7:40rigid and a little too insane. Because right now we are still
- 7:45in an emerging asset. Okay, so Bitcoin is going to
- 7:50have its bumps these guys. They've got one day in the Sun
- 7:55but if you take a look at the Bitcoin chart, we've got 13
- 7:58years in the Sun, so fill it in fill kept in all the good signal
- 8:06for this show. Anyways, we got a little bit of
- 8:08time left. Let me show this real quick
- 8:11because it is the numbers. So while everyone's paying
- 8:13attention to the Bitcoin price, the Bitcoin hash rate is making
- 8:20another all-time high for anyone who doesn't know what the hash
- 8:23rate. Hash rate is an estimate of the
- 8:26amount of computational power, currently mining Bitcoin or
- 8:31another way to look at. It is securing the network.
- 8:33So if you look at Bitcoins value proposition, Bitcoin has Never
- 8:37been more secure, but the price is significantly lower than when
- 8:44the hash rate was lower. Right?
- 8:46So the value proposition continues to increase, but this
- 8:50is why we don't like to speculate on this channel.
- 8:52We don't pull up any charts, right?
- 8:53Because it's noise. Anyways, BTC patent.
- 8:56What are your thoughts on the hash rate?
- 8:57My friend. That's fantastic.
- 8:59I mean I think you know mining tends to be a lagging kind of
- 9:07indicator, right? Because people have sunk money
- 9:10into machines and as spawn them up and and it takes a little
- 9:14while for, you know, if the price dips and some of them will
- 9:18go offline. And, you know, we see this cycle
- 9:20in and out there is a conversation going on, on my
- 9:22Twitter, the other day with similar to the last topic people
- 9:26saying, oh well, you know, Bitcoins going to die because
- 9:28It's not going to be profitable to mine and so on and so forth.
- 9:31And so I had to dip into the explanation of the difficulty
- 9:35adjustment and how that works. But you know, the coin was meant
- 9:40to whether this kind of stuff and the hash rate being up is a
- 9:43fantastic thing. But even if the hash rate drops,
- 9:47it's still the the the thing is meant to weather these storms
- 9:53regardless, if we were to chop the price in half right now, it
- 9:57doesn't matter. It's going to keep on Chalk.
- 10:00It would just chop it along and Tick Tock next block Tick-Tock
- 10:04next block Phil. Okay, I hate to quote, I hate to
- 10:09quote Nassim taleb because he's he's just the worst.
- 10:13That's right. But once upon a time, okay?
- 10:15When he was talking about Bitcoin saying saying things
- 10:18that made sense, he did refer to something specific called
- 10:23antifragility which is something that he really made up, it's not
- 10:26really an actual term but anyways And that really
- 10:31describes Bitcoin. Well in terms of Bitcoin like
- 10:35Bend like Ben was saying, Bitcoin is meant for adverse
- 10:40environments. Bitcoin was meant for exactly
- 10:44these types of situations. It's the money of enemies.
- 10:48It's adversarial environments, it's environments that don't
- 10:52really work well together in any way, shape or form.
- 10:56And yet Bitcoin finds a way to To thrive this thing that this
- 11:01thing. It's just, you know what?
- 11:02Every time somebody talks to me about Bitcoin buying Bitcoins
- 11:05dead and then it's back to life. I just I I love hearing it for
- 11:09me. It's like yeah Bitcoins dead
- 11:10Long Live Bitcoin. Bitcoin is dead sheep ersatz for
- 11:13everybody. But anyways, Phil it's time for
- 11:16the daily fail brought to you by Swan.
- 11:19Check them out Swan Bitcoin.com. That's right.
- 11:23It's the best way to build your Bitcoin stack.
- 11:26It is a stacking site by fellow. Plebs.
- 11:29They've gotten automated Bitcoin savings plan that you can
- 11:32customize instant purchases and they're coming up with an app.
- 11:36It's coming out soon. The link is down below.
- 11:38All right, guys, so naturally, we are not talking about 2018,
- 11:43that that's right. I'm not bringing you into the
- 11:46past, okay? I'm not going to do that, but
- 11:49but we are because we're going to set the stage a little bit,
- 11:51okay, because what's happening with Celsius, may not be, you
- 11:55know, you know how we say history, doesn't repeat itself.
- 11:58But it does Rhyme kind of Rhymes.
- 12:01May not be the exact same, but it's similar.
- 12:03Anyways, for the people who were around in the previous bull
- 12:05market, you may remember a very clever easily, easily
- 12:12identifiable scam called bit connect, right?
- 12:16So we're not going to dive into all the details about bit
- 12:19connect because no, that is not our scam.
- 12:21We just want to, just want to set a little bit of a
- 12:23background. So here we go.
- 12:24B, connect positioned itself as a platform that you cannot only
- 12:27by cryptocurrency. Also invest to get a better
- 12:30return on your initial outlay. Keep in mind, we when we look at
- 12:35Bitcoin, we look at it over the 10-year scale, the 13-year scale
- 12:39were averaging, 200 percent annual Returns on bitcoin.
- 12:44But you see what these types of platforms, they can try to trick
- 12:47you with the little four to six percent than stuff like that.
- 12:50Anyways, essentially the promise was that your crypto currency
- 12:53would start earning money for you.
- 12:55While you sit back on a recliner sipping on a glass, a single
- 12:58Alton chuffing on a Cuban cigar. That's right.
- 13:01All you got to do is hand over your Bitcoin and they're gonna
- 13:05pay you for it. Does that sound familiar?
- 13:08Sounds familiar. I feel like maybe like recently
- 13:10we saw a platform like this. Anyways, maybe maybe a couple of
- 13:14weeks ago, there was one that blew up and now there's another
- 13:16one that's just completely falling apart.
- 13:18Anyways, let's see how these guys did it.
- 13:22You give bit connect your Bitcoin, you give Celsius or
- 13:25Bitcoin to. You also gave Terror, you also
- 13:27gave Terror your Bitcoin or your ether, whatever shit coin.
- 13:30Anyways, you get bit connect coins in return.
- 13:33I'll Celsius also offered a token that was minted out of
- 13:37thin air. Yeah, then give these BCC which
- 13:41was the bit, connect token back to bit connect as an investment.
- 13:45There's also something you can do with Celsius and keep
- 13:48reinvesting it. Then B connect gives you nothing
- 13:51in return other than promised interest.
- 13:57Now, there's another little piece to this before we start
- 14:00looking at Celsius a little closer.
- 14:02Okay? Bit connect was released in
- 14:042016, with the goal of allowing users to lend the value of the
- 14:07bit connect coin in return for interest payments.
- 14:12Okay? The liquidity of the BCC
- 14:15cryptocurrency funded users ability to exchange Earnings for
- 14:22Bitcoin. Okay, so look, one of the first
- 14:25things that bit connect did when they started to fail.
- 14:28Okay. Was that?
- 14:29They stopped you from converting their coin into Bitcoin Celsius
- 14:35slightly different slightly different in their case.
- 14:38They went a bit of a different path that they kind of just cut
- 14:40off the leg, but we're going to dive into that.
- 14:43Remember how last week? We covered Marc Andreessen and
- 14:45we showed you how, you know, the fleecing of of the the early
- 14:49internet days. Right, like the browsers like
- 14:51Netscape. He was involved in Netscape, he
- 14:52ended up selling it and let's face it.
- 14:54We're all using Netscape today, aren't we?
- 14:56Crickets know of course. Nobody's using Netscape.
- 14:59It's dead. It was wasted money.
- 15:00Okay, but he made Millions off of it.
- 15:04Anyways there was another person that was there back.
- 15:07Then that was also fleecing noobs on a tech that no one
- 15:10gives a shit about that doesn't get used today and that person
- 15:14Was Alex and we're going to take just a quick look, there's a
- 15:18nice little interview of Alex. Okay.
- 15:21Back then, talking about the, The Innovation and what he's
- 15:25doing. And and the promise that he
- 15:27sees, let's let's dive into this. 1994 was a great year.
- 15:37For me, it was a great year also for the technology world, it was
- 15:41a birth of many, many new opportunities and possibilities.
- 15:45I got to work on the voice over IP, it was one of the original
- 15:48inventors of protocols which enabled billions of people to
- 15:52communicate for free. Same thing happened in New York
- 15:56for several years. I fought with the MTA to try to
- 15:59get Wireless Communications enable, 8 million people to use
- 16:02them everyday. So the internet is 25 years old
- 16:07now and one industry in specific.
- 16:08The did not get disrupted at all, is the financial industry.
- 16:12There are more concentrated today than ever.
- 16:14Their job is to give you as little as possible, if not
- 16:17nothing. It's a lose-lose for us, it's a
- 16:19win-win for them. The blockchain is the best
- 16:23opportunity we have to replace the banks with the system that
- 16:28is doing what is in our best interest.
- 16:32Celsius Network enables people from all over the world to
- 16:35access a wallet. That enables them to earn return
- 16:38on their coin, will help you to put those crypto assets from
- 16:46your corn wallet, helping you put those crypto assets to work.
- 16:49Okay, look, we don't have to watch the whole video.
- 16:51It was just to give you an introduction to look.
- 16:53So you see what people don't really realize when you're
- 16:55watching this, okay, what's happening is that he's building.
- 16:58Trust look, I created the VoIP All right, I helped create that.
- 17:04I was one of the, you know, the founding, you know, kind of the
- 17:07building blocks of the original internet and not only that, but
- 17:10it's altruistic, right? I was trying to make sure that
- 17:13everybody could connect freely Right.
- 17:16And now I'm going to come here, and I'm gonna do the same thing
- 17:19to Banking and of course, who wouldn't believe his great
- 17:23intentions. I'll tell you one thing.
- 17:26Cory Cory. Yeah, corn.
- 17:29Eclipsed in did not buy. It definitely did not buy it.
- 17:33And has been on a total slaughtering ring.
- 17:37Okay. That's not a real one
- 17:39metaphorical one of the shit coiners.
- 17:41So he killed Luna and then and then he turned his sights on.
- 17:46See us and started to pick apart all the little pieces that made
- 17:50no sense. And I just want to show a quick
- 17:54video that from one of Cory's posts again from Alex detailing.
- 18:01And this is funny because he's going to blame.
- 18:03He's gonna blame the Maxis. Okay, this is, this is 5.
- 18:06This is before the whole thing fell apart.
- 18:07Okay? So like maybe a week actually
- 18:09here, we can see it right here. On May 17.
- 18:11Three weeks, the two and a half weeks.
- 18:12Here we go. The Bitcoin Maxis are all over
- 18:16Twitter. Trying to convince everybody.
- 18:18Hey, this is why we told you, you know, and not your keys, not
- 18:24your Bitcoin, you know. So let me tell everybody right
- 18:2830% of all the Bitcoin is gone because of the Bitcoin Maxis
- 18:33because they told you to hold your own keys and then everybody
- 18:36lost their keys. The bit It's our faults, right?
- 18:46It's the Bitcoin. Maxie's fault.
- 18:48Right? That that that's what it is.
- 18:51It's our fault. Well anyways, this is a
- 18:54wonderful Nico. Thank you very much for this.
- 18:56Let's take a look at some of the Celsius, the agreement about
- 19:01your money. And what happens when you put
- 19:04your money on that platform because again right he's blaming
- 19:06the Bitcoin Maxis in the event. That Celsius becomes bankrupt
- 19:10and there's liquidation or is otherwise unable to To repay its
- 19:13obligations any illegible digital assets used in the earn
- 19:17service or as Mentor as collateral under the borrow
- 19:21service. May not be recoverable and you
- 19:24may not have any legal remedies or right in connection with
- 19:28Celsius obligations to you. Other than your right?
- 19:30As a creditor of Celsius, honor any applicable law.
- 19:33And you say to yourself, This can't happen.
- 19:35He's so trustworthy, right? Look, he's got a bank, a Quebec
- 19:41Deposit Bank for pension Ons that invested as part of a 400
- 19:46million-dollar investment round back in 2021, right?
- 19:52This is legit, right? This isn't this isn't this legit
- 19:56must be anyways so it brings us to yesterday, right?
- 20:03Brings us to yesterday. We're writing with a very
- 20:06important message for our community due to extreme market
- 20:09conditions. Today we are announcing that
- 20:11Celsius is pausing all All withdrawals, Swap and transfers
- 20:17between accounts. We are taking this action today
- 20:20to put Celsius in a better position to honor over time.
- 20:24Its withdrawal obligations. Let me tell you something.
- 20:30Nobody stops you from pulling out your money for your benefit.
- 20:34Okay? That that's not how this works.
- 20:36You are free to do whatever you want with your money.
- 20:39When a platform decides to stop you from doing this.
- 20:42It's because they know their insolvent, they know, they're
- 20:46becoming insolvent and there's a big problem and they can't let
- 20:50the bleed continue. Now, we are obviously going to
- 20:52continue to cover this because I'm sure this whole thing is
- 20:54just the beginning of the collapse because As we can see
- 20:58there is, I mean there's one headline after another, BJ
- 21:01dichter. Also, you know, copied us on
- 21:02this as well. Major crypto lender Celsius.
- 21:04Suspends withdrawals bit coin drops below 25k?
- 21:07That has nothing but coin dropping below 25k.
- 21:09I get it right, it does add some fear to the market but make no
- 21:13mistake. Okay, regardless of Celsius,
- 21:16when the Bitcoin price starts to pull back all of these
- 21:19platforms. If they weren't legit, they fall
- 21:23apart. Okay, we saw Tara Luna now,
- 21:26we're seeing Celsius. It's so we asked the question,
- 21:29right? We start to ask the question.
- 21:32When does the next when does the next leg drop?
- 21:36So we've got another tweet over here.
- 21:37Celsius network has 17,000. 919 WBT see.
- 21:42Okay so people are going to pretend that rap BTC exist but
- 21:45it doesn't it's just a shit coin.
- 21:46That's called WBT see. It's not Bitcoin in any way,
- 21:48shape, or form. Anyways, this is leveraged in
- 21:51maker protocol and this position faces liquidation at 22,500.
- 21:57Under it, it's getting awful close, it's getting awful close.
- 22:02Anyways, these guys are in big trouble.
- 22:05This is why Nico constantly pounds the desk on.
- 22:09Not your keys, not your coin, you need to self custody.
- 22:14So this brings us to our next point.
- 22:19Who could be next, right? That was talking about this, I
- 22:22simply Bitcoin with fellow Bitcoin or Flacco and I gotta
- 22:26give him a shout out for this one, okay?
- 22:28I gotta give him a shout out for this one because he was like
- 22:31take a look at this platform and x 0.
- 22:33So this is interesting though, right?
- 22:35This is again, another one of these crypto lending garbage
- 22:37platforms. We firmly believe that acquiring
- 22:39all or parts of Celsius, qualifying outstanding,
- 22:43collateral. Collateralized, loan receivables
- 22:46will go a long way in providing immediate.
- 22:49Idiot liquidity to Celsius Network clients.
- 22:52We're still waiting to hear from their management and we'll
- 22:54update you guys, get ready because Once we start to see
- 23:01Bitcoin drop and we start to go to these levels, right?
- 23:05Like we've retraced more than 50% since the all-time high.
- 23:08Now as bitcoiners, I got to tell you I personally couldn't give a
- 23:11shit. It really doesn't bother me.
- 23:13This is just a stacking opportunity.
- 23:14I'm just trying to figure out what stuff I can sell so that I
- 23:16could buy more Bitcoin. I couldn't care less, it's not
- 23:19Financial advice. This is me.
- 23:20So, but what I'm saying, is that in the real world, when these
- 23:24things start to happen businesses like this, they start
- 23:27to falter, they start to fall apart.
- 23:30Okay, and the ones that do not have the security, the ones that
- 23:34aren't actually doing what they say they're doing.
- 23:37They are going to falter first. And the Really one of the really
- 23:41big red flags for me with Celsius was when they started to
- 23:44offer cell token. Okay, once upon a time when they
- 23:48first started, it was BTC deposits and then it started to
- 23:52grow and if you ask me the growth really had nothing to do
- 23:58had nothing to do with them. Actually growing as a business.
- 24:01I believe that it had to do with masking the fact that it's a
- 24:04giant Ponzi scheme and they had to keep the wheel turning until
- 24:07they got to the next until they got to the next Bull.
- 24:10And then I'm assuming that they figured out, they would stick
- 24:12around but uh and Nico also provided an article that showed
- 24:17back in 2021. At the same time that they got
- 24:20the deposit Bank of Quebec to invest in them.
- 24:23They also purchased over quote unquote, 500, what was it?
- 24:27500 miners, 500 million dollars worth of minors?
- 24:32So sorry 22,000 Asic miners okay back in 2021.
- 24:38So again Creator a VoIP got a pension fund Bank invested in
- 24:45him. Purchasing Bitcoin, miners
- 24:47contributing to the ecosystem, guys.
- 24:49This is what I talk about. When I talk about the
- 24:51partnership parade. It's freaking smoke and mirrors,
- 24:54just buy Bitcoin. Hold your own Keys.
- 24:57Learn to self custody. Ben what are your thoughts
- 25:02before we go to Nico? Whoa, first of all, does that
- 25:06mean we're going to be seeing some Chief Asics pretty soon
- 25:08because that's sweet. I'm seeing of right now baby.
- 25:11Their rights have been good. Writers is going down.
- 25:14Yeah, yeah. I think I'm gonna have to maybe
- 25:17pick up one of those Celsius Asics some point.
- 25:22Yeah man I mean money it's it's it's it's more of the same.
- 25:25I'm so glad you opened that up with with bit connect because
- 25:29it's It's the same story. It's the Same Song & Dance over
- 25:33and over. Its doesn't it's not exactly the
- 25:36same every time. But it's pretty damn close.
- 25:38Its it Rhymes, right? And and the office station that
- 25:43having an additional token in the mix offers is, is, is the
- 25:48the part that really throws people for a loop?
- 25:51And I guess in the, in the words of our favorite old bit, connect
- 25:59bumper, Wow, you kind of lost your money.
- 26:06Oh man, beautifully said, so two points, right?
- 26:13Point number one, it's such a great metaphor to the
- 26:17traditional system traditional system.
- 26:19You would call this a bank run, right?
- 26:22They just don't have the money in.
- 26:24The banks would just close right Bitcoin.
- 26:27We have a chance to change that, right?
- 26:29But if you take self, custody of your Right?
- 26:31This kind of goes back to the same problem.
- 26:34You're trusting someone else with your wealth and you're
- 26:37trusting them not to like not to cheat but the incentive is so
- 26:41strong, right? That a lot of them even with all
- 26:44the bells and whistles, even with all those sponsors with
- 26:47those quote, unquote, legit people, with the miners with
- 26:51raising, all that money, there are still incentivised to gamble
- 26:55with the Bitcoin that you gave them that you gain an interest
- 26:58on right there, essentially. A hedge fund, right?
- 27:03But you didn't know about it. This is the worst part, right?
- 27:06And then, the second part is, I kind of want to, if you are
- 27:09listening to this video and you were caught up in the whole
- 27:11Celsius mess, it's gonna be okay.
- 27:14We always say this on the show, everyone has to pay a price of
- 27:17tuition, especially when you're getting into, I hate this word
- 27:21but getting into crypto, a lot of people just don't know.
- 27:25Yeah, take this as a learning opportunity.
- 27:28Stick to bitcoin. You're going to have a lot of
- 27:30time during this Bear Market. Check out BTC bends PT Sessions,
- 27:34videos is tutorials your have a lot of time during this bear
- 27:38Market to learn a lot about the Bitcoin fundamentals and you're
- 27:41going to want to write because you're going to ask like why did
- 27:44I get scammed? Why was this a scam?
- 27:45And you'll realize that they're really only is one option and
- 27:50that is Bitcoin, right? It's all fun and games during
- 27:53the bull markets, because all the shit coins, you know, they
- 27:55all fucking go crazy. But then the marriage Market
- 27:58comes around. Like, we've been saying for For
- 28:00over a year now and it totally humbles.
- 28:04You, it's happened to me. I know it's happened to Phil
- 28:06then you were before my time, but it happens to everybody just
- 28:10to shit. Coins are so enticing.
- 28:12That a lot of people are like, oh let me, let me try this.
- 28:15And when I mean shit coins, I also mean, so I like the whole
- 28:17thing, it's all the same, it's all bullshit.
- 28:19It's all giant elaborate schemes to get you to part away from
- 28:24your Bitcoin. That is literally the point of
- 28:26shit coins. So yeah, I was just going to add
- 28:29and since you're talking about Stationary.
- 28:31It's, you're so right in that during during these times the
- 28:36bear markets are, we're good, bitcoiners are made, right?
- 28:39Because you, you take the time to build those skills self
- 28:44custody. I know for those watching that
- 28:47maybe haven't done it yet. It is not as difficult as it
- 28:51seems. All you need to do is just start
- 28:54and try. There are so many videos.
- 28:56I've got tons of videos on how to use Hardware wallets start
- 28:59with a wallet on you. A phone and just learn how to
- 29:02send transactions and then just build from there.
- 29:04There's so much to be learned. There's so many amazing open
- 29:08source tools out there available to people and be on that dive
- 29:13into the what puts Bitcoin of sets Bitcoin apart.
- 29:17And if you're interested, I've got a playlist called avoiding
- 29:19shit coins 101 and there's a number of videos in there, that
- 29:23really breaks it down as to what the difference is.
- 29:25So we will put that video down to link description before I
- 29:29fill you. Want to say something, Yes, I
- 29:31just wanted to say, I wanted to point out that we all met during
- 29:34the the bear market, right? We started simply Bitcoin at the
- 29:38end of the bear Mark. I mean we don't really know it
- 29:40was the end of the bear Market. We just we started something
- 29:42kind of kind of had a good feeling.
- 29:45Well we were still down we're still down and then freaking
- 29:47covid happen and it is put totally went down even lower so
- 29:50yeah. So yeah, I agree.
- 29:53I agree with you guys double down on the Bitcoin content
- 29:57Ben's content is great simply Bitcoin where more of like
- 30:01Houghtaling entertainment Channel Bitcoin mag and Swan
- 30:05signal, but the podcast channels as well double down on the
- 30:09Bitcoin content because the Bitcoin content is what's going
- 30:12to make you build. It's gonna, it's gonna help you
- 30:15build the fundamentals. And it's going to make you
- 30:16understand that this is much bigger than getting well,
- 30:20getting rich. Rich is the secondary process.
- 30:23That's Bitcoin. Does that if you just buy it and
- 30:26hold it, and you technology will do its thing.
- 30:29But this is something greater than that.
- 30:31That it's about fixing the money fixing the world and destroying
- 30:34the tyranny of Central Banking. This is really what it's about.
- 30:38So yeah. But anyways, Phil it's time for
- 30:40the daily meme review brought to you, by Citadel 21, they make
- 30:44the best Bitcoin cultural news stories articles Comics by
- 30:48actual bitcoiners, every volume has different artwork.
- 30:51This is the vault is the artwork for volume 10.
- 30:54This is the artwork for volume to, it's almost sold out and
- 30:57this is artwork for the latest one Volume 11.
- 30:59So get your copy of Little 21 today before they run out.
- 31:03All right, first mean for today is brought To Us by crypto.
- 31:06Graffiti makes awesome work. Definitely recommend this artist
- 31:09if you guys didn't notice Celsius Frozen, and it's that
- 31:13guy. All right, move it on to the
- 31:16next one. Bye, Alan Farrington.
- 31:18My wife, me ready to drop some, serious knowledge on why Bitcoin
- 31:23wolves or the Global Financial system.
- 31:25Our friend, I don't have Normie friends because I always end up
- 31:28getting into the Bitcoin conversation.
- 31:30And I'm that guy they the crypto, bro.
- 31:34Like they don't understand, they don't get it.
- 31:37Anyway, nobody wants to talk to us.
- 31:40That's why I only hang out Bitcoin is there is no next one
- 31:42by Niko bit kunsan. Thanks for the tag bro.
- 31:46Really appreciate it. Alright wife you seem stressed
- 31:50over your internet money. Let me get you a snack.
- 31:52The snack Celsius, Luna. Appreciate it.
- 32:01The amount of times Bitcoin dips.
- 32:02After I buy tips after I've, I'd it's harder after I find, it's
- 32:07so true. All right, next one.
- 32:10Bye, Jose me, orange pilling normies.
- 32:14There he is. Look at me.
- 32:19Nice one, white sock, Seacat normies laughing that Bitcoin is
- 32:21dipping my dollar. My daily dollar cost average
- 32:24scooping up cheaper. Sot!
- 32:26It's so true. This is what we've been talking
- 32:27about the entire show. Our next meeting by BTC bad.
- 32:30N BT. Z sessions been BTC sessions
- 32:33better been BTC sessions. Join my paid group for more
- 32:37insightful market analysis, price.
- 32:40Routing price slightly up sideways.
- 32:42Chop slightly down price tag. Yeah.
- 32:45All right. Good good.
- 32:46Alright, last. But last but not least by Wall
- 32:49Street Silver. Is that inflation?
- 32:53Is that inflation? Yes it's transitory we wouldn't
- 32:56even notice what Okay, I hope they're okay.
- 33:33Number one, that's awful. That's what it feels like.
- 33:38I love how the dad just pieces. Over at always like a get my
- 33:41accent liquidity out here, hell was that?
- 33:45But he's the one. The sun is like, he knows.
- 33:47He's like, we should get out of here like that, that, that he's
- 33:50like, no, it's gonna be fine. The dad is Janet Yellen.
- 33:54Okay. For those special score it for
- 33:57those memes? I'm going to give it.
- 34:00So she the Bitcoin chicken bills to feels disappointed because
- 34:04he's like he only needs to cluck when the price of Bitcoin
- 34:07reason. Although you've ruined it today,
- 34:09Phil it was you. It's my bad.
- 34:12I screwed this one up. Okay, but I'm gonna redeem
- 34:15myself with an amazing score. An amazing score.
- 34:19Here we go. This is, this is how dedicated I
- 34:21am. I am giving it because I have no
- 34:23furniture. The garbage that I'm sitting on
- 34:26to record the show. That's right garbage.
- 34:28Can that is some bear Market shit, right there.
- 34:35The chairs are scam. Sit on trash.
- 34:42All right. Ben what would you give those
- 34:44memes? I'm gonna give it in the in the
- 34:49vein of self custody as we were touching on.
- 34:52I'm going to give those memes a punch for my cold card coin,
- 34:59kite seed plate. Yep, yep.
- 35:01Yeah. Those are good scores.
- 35:03Wow, awesome. Awesome memes.
- 35:05Phil shout-out, and, and then thank you for the awesome memes.
- 35:09Anyways guys, we want to know You agree with our scores, you
- 35:11disagree. Let us know down in the comment
- 35:12section. Comment.
- 35:13Comment, comment helps with the mysterious YouTube algorithm
- 35:16join our awesome telegram group. It's a party in there.
- 35:19You can link us some Bitcoin memes to review, so we can
- 35:21review them on the Bitcoin mean review.
- 35:23And make sure to subscribe to us on alternative video platforms.
- 35:26Because we do talk shit about the world economic Forum like
- 35:29Rumble.com, and our personal favorite Bitcoin tv.com, they
- 35:32don't censor their because Bitcoin TV.
- 35:34Anyways, Phil it's time for the Daily News brought to you by
- 35:37crypto club.com they make some of the best Reprinted Bitcoin
- 35:41merch like the famous 3D printed Bitcoin.
- 35:43Grenade toy. That's right.
- 35:45Come said, Peter Schiff colors. Maybe you have to get this.
- 35:48It's a Bitcoin grenade in Gold. That's right.
- 35:51And the pin came out, that's bad.
- 35:53Anyways, you can get it. Any custom color, your heart
- 35:55desires, you want it, orange, you can get it in Orange.
- 35:57What about a Bitcoin honey badger?
- 35:59He has that too, and you can take advantage of the promo code
- 36:01down below to get 5% off, crypto.
- 36:03Cloaks.com, everyone has to pay their dues Bitcoin spares, no
- 36:09man 9B. Kelly and Michael sailor are no
- 36:12different. Check this out.
- 36:15This was actually on the front page of Bloomberg.
- 36:18I watch, I went out, I checked out Bloomberg's website to go to
- 36:21the crypto section, I didn't have to because this was on the
- 36:24front page, check it out. Microstrategy's losses on its
- 36:28Bitcoin bet, near 1 billion. First of all, shout out to
- 36:32Bloomberg for capitalizing Bitcoin.
- 36:35You guys are great. Anyways, it's check out a little
- 36:37bit microstrategy ink founder. And chief executive officer,
- 36:41Michael Sailors, big bet on bitcoin has backfired in a major
- 36:44way as the paper loss for the firm's Holdings of the largest
- 36:48digital assets have reached roughly 1 billion.
- 36:51I just want to highlight the fact that it says paper losses,
- 36:54right? So the guy that we talked about
- 36:57earlier the the comment response.
- 37:00That's the key right over the last two years, the software
- 37:04maker has shelled out three point nine, seven billion
- 37:08dollars as it amass. Nearly Under 30,000 Bitcoins,
- 37:12the firm's average purchase price.
- 37:14For those tokens has steadily risen with each additional
- 37:16purchase since 2020 and sit at thirty thousand seven hundred
- 37:21which in my opinion is a good price as of March 31st.
- 37:24According to latest quarterly, filing with the Securities and
- 37:27Exchange Commission with Bitcoin plunging by as much as 17
- 37:31percent to twenty two thousand six hundred and three on Monday.
- 37:36After crypto lender Celsius Network wrecked, pause.
- 37:40He withdraws swaps and transfers on the platform,
- 37:42microstrategy's, Holdings are now worth, just over three
- 37:46billion. That puts the company's Bitcoin
- 37:48related losses at nearly 1 billion dollars, but they have
- 37:53never sold their houghtaling, and this happens to every single
- 37:58pleb, okay? This happens every single time
- 38:02unless you get very lucky, the majority of people, they get in,
- 38:06during the bull and they get absolutely hammered During the
- 38:11bear and those who stay benefit from the next Bull, right?
- 38:18Which historically comes about a year or six months after the
- 38:22having. So let's talk about the pressure
- 38:27that Michael Sailors on. This isn't a shit coin chart.
- 38:29That's not what I'm showing you this is microstrategy stuck
- 38:32chart, absolutely hammered. So price is $152 the last time
- 38:40it At this price was before the Bitcoin Bull Run.
- 38:44It's a little bit higher. But back then, it was at $144
- 38:49before the whole Bitcoin stuff, it was at 100 bucks.
- 38:52Roughly. So he's roughly, at where he was
- 38:56for a couple years. So he's very familiar with this
- 38:58price, but check out this volatility looks like a shit
- 39:01coin to be honest with you reached a peak of $1000.
- 39:05It's down to 150 to the reason. I'm showing the chart guys is
- 39:08because at the end of the day, Mike our strategy is not a
- 39:11public company, it's a sorry, it's not a private company, it's
- 39:15a public company. Meaning, Michael sailor is
- 39:19beholden to his stockholders. So lawsuit may be, what are the
- 39:27legal ramifications. He was very public about his
- 39:30decision to do this right? He wasn't being sneaky about it.
- 39:33So everyone technically that bought the stock knew what they
- 39:37were buying into but it's it is the United Oh people love
- 39:41lawsuits here. This is here at risk of losing
- 39:45the company. I don't know enough about
- 39:47traditional Finance to say anything but Ben was shaking his
- 39:50head. So I'm going to pass it on to
- 39:51him. Then what's going on with with
- 39:54Chad sailor? Well, I mean I'm glad you said
- 39:57that again. It is the price of tuition.
- 39:59Everybody has to earn their stripes, right?
- 40:02Like the nobody is immune, nobody picks up Bitcoin and
- 40:06watches it. Go up like in a straight line,
- 40:09right? He's going to have to weather
- 40:11this. And the thing that I find funny
- 40:15now is that so, the, the market cap of microstrategy is
- 40:20effectively the same as it was before, it started buying
- 40:23Bitcoin and it's the same company doing the same thing,
- 40:26but now it also has three billion dollars worth of
- 40:29bitcoin. So so like, I don't know do a
- 40:32little bit of math on that. Like, if effectively, if if the
- 40:37company did nothing and earns, Thing, the market cap of the
- 40:42company is effectively the market cap of how much Bitcoin
- 40:45they all. Like, it's pretty close in
- 40:47there, so, yeah, I don't know II.
- 40:51Don't think that he's at risk of losing the company.
- 40:55If I'm not mistaken, he's got enough of a controlling interest
- 40:58in it, that it would be pretty difficult to osem.
- 41:00But I don't know. You know, it's the other thing
- 41:05that I like is these these types of headlines are going to look
- 41:10Fantastic in four years because you know you'll be able to paste
- 41:16them up of always an unrealized loss of a billion dollars, blah
- 41:20blah blah and the the company's going to be worth like tens of
- 41:25billions of dollars or more you know it's going to be hilarious.
- 41:30How much those Holdings are worth as long as sailor.
- 41:35Hopefully, has that holler mentality moving forward?
- 41:39So Paper losses, that's it. That's all you got to say.
- 41:44It's Paper losses. So so, you know, look, according
- 41:46to fight traditional institutions, doesn't matter.
- 41:49Makes no difference, right? These are paper losses.
- 41:51So now we need to fix this problem.
- 41:53Look, unfortunately, when it comes to traditional equities, I
- 41:56do agree with Ben. First of all, I don't think that
- 41:58he has any. There's no risk of him, losing
- 42:01control of the company, or anything like that, but
- 42:03unfortunately, there are lawyers lawyers love to, you know,
- 42:07lawyers, love to get paid. Everybody loves to get paid and
- 42:10What's better than these long drawn-out lawsuits which usually
- 42:14just end up in some type of, you know, some type of a deal being
- 42:18made because really at the end of the day because at the end of
- 42:22the day they don't really have a leg to stand on.
- 42:24You're absolutely right. You know he was very public
- 42:27about purchasing Bitcoin, he was public about how he purchased
- 42:30Bitcoin but nobody nobody gives a shit about that.
- 42:32They are still going to try to sue him.
- 42:34If there's a large enough quote-unquote investor group.
- 42:37Okay, they may pull their funds. And try to sue him.
- 42:42Okay? Which again they can but they're
- 42:46going to look like idiots in four years from now because they
- 42:49will have wasted his time. They will have wasted their
- 42:52time. They will have wasted,
- 42:53everyone's money and then Bitcoins gonna do exactly what
- 42:57it's going to do. And make no mistake.
- 43:00All of this noise that we're paying attention to look at what
- 43:03we just read. If we go back to the dashboard,
- 43:05the public lightning capacity is at all-time highs.
- 43:09This is not the, this is The symptom of a Dying assets.
- 43:12This is the symptom of a growing ecosystem, it's completely
- 43:16different and people are missing the mark like that.
- 43:19That's really the problem. So what's happening and
- 43:22especially the corporate owned media has zero problem with, you
- 43:25know, sticking anything, they have to stick in front of
- 43:27eyeballs just to get the clicks, right?
- 43:30So they're going to make it seem like everything is falling
- 43:32apart. I remember this, right?
- 43:33I still remember from the 2017 when we started to get into the
- 43:36bear Market, I mean they made it seem like that's it, like
- 43:37Bitcoin was dead, you know? But if you I actually spent your
- 43:41time doing the research, paying attention to the 2015 Market, to
- 43:44the 2013 market and going back. You were like, hey wait a
- 43:47second, these are patterns of growth.
- 43:50I just need to understand more about this emerging asset.
- 43:54So you know, what they can do, whatever they want.
- 43:57At the end of the day, they are going to be wrong, they're going
- 43:59to be wrecked, and I think if Michael sailor actually does
- 44:02have the resolve that, you know, that he claims and that he
- 44:05presents, Then I think he's going to be perfectly fine.
- 44:09And now you buchelli, I think has a little bit, believe it or
- 44:12not, a little bit of a tougher time because he is the
- 44:14president. Yeah, yeah.
- 44:17A little bit tougher of a pill to swallow, but look, I think
- 44:22that this is, this is part of the growing pains and I think
- 44:25that we really proof is our success.
- 44:30So if we don't actually attempt to make anything better, if we
- 44:34don't attempt to try something different than we will always be
- 44:37stuck with the same exact problems.
- 44:40Okay, so we need, we need to try this stuff out.
- 44:45I applaud him for what he did and the reality is, is I think
- 44:50he is going to come out Victorious.
- 44:52He also just needs to stick to his guns and I really hope that
- 44:55he has the conviction that, you know that we've learned to have.
- 44:59But I think he does. He does he he's he seems to be
- 45:01pretty steady. Yeah, I hope so.
- 45:04Oh, I am more concerned about the public pressure.
- 45:08Speaking of nine bouquet lie, I have time for just about very
- 45:13quickly. This came out in the Los and Las
- 45:16Angeles. Haha, Los Angeles Times Los
- 45:20Angeles. If you want to say it in Spanish
- 45:21and be fancy about it El Salvador, El Salvador's
- 45:25president tries to silence Free Press journalist Brothers.
- 45:28Expose his ties to street gangs. Those are the say Carlos
- 45:33Martinez peered over his brother, Oscar shoulder as they
- 45:36proofread investigation. They were about to publish a
- 45:39story. They feared could change their
- 45:40lives forever or perhaps even worse, change.
- 45:43Nothing at all the brothers two of us.
- 45:45Operators, more celebrated Journal is have produced a
- 45:48damning report exposing present. Iboot Kelly's ties to the street
- 45:51gangs, that have long terrorized Central America.
- 45:54It was the kind of Journalism as distinguish the Salvadorian
- 45:57press in the three decades since Peace Accords ended.
- 45:59The nation's bloody Civil War. El Salvador has become a beacon
- 46:02of media freedom in, in a, in a region where journalists are
- 46:05sometimes jailed or even killed for hard-hitting.
- 46:08Work exposing the powerful and the corrupt, but everything has
- 46:11changed under bouquet a young imagined, obsess autocrat.
- 46:14Who, once called himself the world's coolest dictator, he and
- 46:18the Martinez brothers were from the same generation all Riza,
- 46:21made amid War by politically minded parents, but they had,
- 46:25they had taken strictly different paths while the
- 46:27brothers crusaded. Against Power convinced that
- 46:30strong checks on democ a talker Authority where preconditioned
- 46:34fro Salvador's fledgling democracy but Kelly was intent
- 46:37on acquiring it buchelli 40 has been taking some of the highest
- 46:42approval ratings on the planet. Thanks in large part to his
- 46:46skill at controlling media narratives.
- 46:49Now, kind of push back here. A couple things to unpack
- 46:53bouquet, liaise going to be getting an onslaught of attacks
- 46:57for buying Bitcoins. In terms of the the dictator
- 47:01stuff and whatever, I think the mainstream media is being very
- 47:04insincere, they're very good at controlling narratives the
- 47:09Legacy mainstream media. In the US has been attacking
- 47:12bouquet lay since the Bitcoin law consistently.
- 47:15If you compare bouquet lie to a lot of the Central American
- 47:19leaders, It's not that bad, which is why he has such a high
- 47:24approval rating right in South America.
- 47:27Would, a lot of people don't understand about politics, is
- 47:29that democracy kinda? It's more.
- 47:32So, do you want a left-wing dictator?
- 47:34Do you want a right-wing dictator?
- 47:36That's kind of how it works. There's some pot, there's some
- 47:40democracy, some countries are better than others, but not so
- 47:45much. So I mean, like you're
- 47:48criticizing someone who has done a lot of good for This country.
- 47:52And again, the reason that we're taking this stance, okay?
- 47:55Is because if we don't give the push back, if we don't give the
- 47:58counter narrative to the mainstream, media are the Legacy
- 48:00Media. Better said, no one else will,
- 48:03right? So again take it from the South
- 48:05America, South American, South American politics are really you
- 48:10can't compare them to establish countries.
- 48:13Like you just can't write. It's a totally different ball
- 48:15game looking in from what I've heard from people say this.
- 48:20I've heard people I'll say Ava, Dorian say I want to go back to
- 48:24El Salvador because of nine buchelli.
- 48:26You would have never heard that ever right.
- 48:29Look at the economy numbers. Look at how much he's taking
- 48:33care of crime. And by the way, this is I'm not
- 48:35saying that he's not a dictator but what I am saying is at least
- 48:39he's a Bitcoin dictator and I guess that's better than a Fiat
- 48:45dictator because if he wasn't a Bitcoin 10th dictator that's
- 48:48what he would be right? Because it's such Central.
- 48:51That's how it works over there. So anyways that's my take, maybe
- 48:55it's a bad one to me up in the comments if you disagree.
- 48:58But been what are your thoughts on this?
- 49:00My friend, I mean I won't claim to know much about the politics
- 49:04in the region, but I'll Echo your final Point.
- 49:08There's there's the dictators that do terrible things and
- 49:14utilize their monetary policy to further disenfranchised their
- 49:19constituents. And then there's the Dictators
- 49:22that introduced a tool of freedom to their constituents
- 49:27that. Even if his constituents were to
- 49:30turn against him, they would still be able to use that tool
- 49:35and he would not be able to stop them from fundraising and and
- 49:38doing what they want with their money.
- 49:40So at the end of the day you have to realize that you have to
- 49:48separate the tool that's been introduced into the country as a
- 49:51And a political tool for freedom from the government that
- 49:56implemented it. And that's not something that
- 50:00Legacy Media likes to do. And they like to just group
- 50:03everything, all together person, we don't like did something with
- 50:07tool that we now also don't like that will be the narrative for a
- 50:12while but again, people can use Bitcoin for whatever they
- 50:16please. And, and I hope that over the
- 50:18long run, it benefits the people of else.
- 50:21Salvador, I completely agree mind you.
- 50:24If he starts doing horrible shit, we will cover that, right?
- 50:29But so far. It's what Ben has said, right?
- 50:32All he's done for his people, at least from our perspective.
- 50:35Again, we're not out of Salvadorian, we're kind of
- 50:37seeing it from the outside in. He's brought Economic
- 50:41Opportunity to his country from what I've heard, right?
- 50:45Good stuff. His approval rating, I think
- 50:47speaks of that. As much as the media would like
- 50:49to just say, oh it's because he's crafting the married.
- 50:51What do you think the media does?
- 50:54So like, yeah, it's it's interesting to say the least,
- 50:57but it is, it is a thin line because he is a dictator after
- 51:00all after, all right? So you could start doing
- 51:03horrible shit to absolute power corrupts.
- 51:06Absolutely right. But Bitcoin has never been added
- 51:11to that equation. So I'm very interested to see if
- 51:14that changes it. Maybe it does.
- 51:15Maybe it doesn't. Anyways, Phil you got one minute
- 51:18real quick. We've never had Bitcoin before,
- 51:21so that's the whole thing though, but really that, that is
- 51:25how it starts, right? We've never had Bitcoin before.
- 51:28And yes, he may be a dictator but quite possibly having a real
- 51:33money where we can separate money and state.
- 51:37Again, I want to believe that. And maybe even certain
- 51:41governments would like to figure out how they can keep power, or
- 51:46acquire power through actually providing valuable services or
- 51:52services that their constituents actually want, you know?
- 51:55Like I mean, I know this is gonna sound ridiculous, but take
- 51:57a look at a company like Amazon, right?
- 51:59Like yes, I'm sure there's a lot of people that hate Amazon, but
- 52:01Amazon does offer a really good service that a lot of people
- 52:05really enjoy and they find Value in it.
- 52:07Well, it's this. I think it's the same type.
- 52:09Type of thing for a government. I think governments need to
- 52:11start reimagining and look. You Kelly is a gen xer.
- 52:16I'm a genic sir we watched our. We, we said, we were the first
- 52:19generation after the Boomers that made less than the Boomers.
- 52:22We were the first ones hit, and we're like, holy crap.
- 52:25Everything. They told us doesn't work.
- 52:26And we're all broke. Why we had to rethink at all?
- 52:30He's part of those people. He also sat there and said, you
- 52:32know what? I've been spoon-fed shit.
- 52:35I need to figure out something different.
- 52:36Yes, I'm a dictator, but why can't I try this?
- 52:40I don't know. Maybe that you maybe are takes
- 52:42her terrible. That, that's perfectly fine.
- 52:44I don't know. Sitting on a garbage look, look,
- 52:47I'm done as well. And I know a little bit more
- 52:50like Ike. I understand the culture
- 52:52politics are not good down there, right?
- 52:55And from what I've seen for again, outside in I'm seeing a
- 52:59good change, is it perfect? This is a perfect democracy.
- 53:02Is it is he you know, perhaps censoring what that article is
- 53:06claiming perhaps right but you can't look at it as black and
- 53:10white. What is the alternative to nine
- 53:12buchelli is going to be another present?
- 53:13That's not To implement the a Bitcoin law that by and large
- 53:17over time is going to help. Its people, it's already saving
- 53:21El salvadorians, tens of thousands of dollars a year in
- 53:23remittances alone, I don't know. You can't look at it black and
- 53:27white. You have to kind of weigh the
- 53:28pros and cons, right? That's the way that we look at
- 53:31it. Of course, if he starts doing
- 53:33tyrannical, shit, will be the first to call it out and again,
- 53:36it would be terrible for him, right?
- 53:38He wants to attract investment to his country.
- 53:40Not scared off, right? Anyways, feel there was an open
- 53:44Soft release today when he tell everybody about it software
- 53:47releases brought to you by Cipher safe, check them out.
- 53:51Cipher safe dot IO papers, dead store, your seed in the Cipher
- 53:56wheel or the all new Cipher grid.
- 53:58They both come with a tamper-resistant wire and the
- 54:01grid comes with a punch tool. All right, guys, for Bitcoin
- 54:05core. We've got the Bitcoin Hardware
- 54:08wallet interface that was released version, 2.1 1.1, the
- 54:13link is down below. Whoa, guys, don't forget to
- 54:16check us out. On our Audio.
- 54:17Only platforms Apple podcasts Spotify and anchor.
- 54:22If you want to stream a SATs, check us out on Fountain dot f
- 54:25m--. You could stream a SATs through
- 54:27Breeze and starting in the next few episodes.
- 54:30We're going to start to read off some of the, some of the
- 54:32comments in the Boost that we've gotten from Fountain dot f m
- 54:36from our from our loyal listeners and our viewers.
- 54:38So look, we really appreciate your support.
- 54:40Check us out. Fountain dot f m--.
- 54:42Awesome. Thank you for our guys real
- 54:44quick. Are we going to give a very
- 54:45special shout-out to our clothing?
- 54:46Sponsor represent, LTD.com filling night, where the hoodies
- 54:50every single day. He's making Bitcoin merch fills
- 54:53wearing the Bitcoin hoodie simply Bitcoin merch coming
- 54:56soon. Anyways, you can take advantage
- 54:57of the promo code down below to get 10% off represent LTD.com.
- 55:01I also want to give a very, very special shout-out.
- 55:04To one of our favorite independent Bitcoin content
- 55:08creators, have to say independent now because there's
- 55:11definitely like the companies that make Bitcoin content and
- 55:14Now, there is the plebs then is a pleb.
- 55:16All right, check out his awesome Channel.
- 55:18He has some of the best tutorials in the business.
- 55:21Youtube.com slash btz session. So if you don't want to make a
- 55:25complex complicated, go to YouTube search PT sessions,
- 55:28awesome content. Like I said, guys, that was a
- 55:30show. If you enjoyed the show, you
- 55:31know what to do. So, of course, you want to
- 55:34continue here in the Bitcoin, use from the played plead
- 55:36perspective, in the catastrophic.
- 55:37Filth from the same perspective, definitely consider subscribing
- 55:41to Simply Bitcoin will see you tomorrow, guys, your brand new
- 55:43episode to What are awesome guest.
- 55:45The chairs are a scam. Sit on trash.