Latest / Simply Bitcoin / BILLIONS Are Flowing Into Bitcoin… So Why Is the Price Stuck? | EP 1283

Transcript

BILLIONS Are Flowing Into Bitcoin… So Why Is the Price Stuck? | EP 1283 · Simply Bitcoin

• 0:00
  Billions of dollars is flowing into Bitcoin, but why is the
• 0:03
  price not rallying? Bitcoin looks stuck at $110,000.
• 0:10
  We've got billionaires, bankers and Bitcoin treasury companies
• 0:15
  accumulating more than 500,000 Bitcoin in the past 12 months.
• 0:20
  And everybody's kind of sitting back and scratching their head a
• 0:23
  little bit and asking themselves the question, why is the price
• 0:26
  of Bitcoin not rallying? What we know for sure is that
• 0:32
  hundreds of thousands of Bitcoin is leaving the exchanges.
• 0:35
  We can see that very clearly. The supply suffocation, it's
• 0:40
  accelerating. We're seeing more and more
• 0:42
  Bitcoin leave the exchanges. We're seeing more and more
• 0:45
  billionaires adopt Bitcoin, but nobody knows what's happening.
• 0:49
  Everybody's saying, is it paper Bitcoin?
• 0:52
  Are exchanges suppressing the price of Bitcoin?
• 0:56
  Or is maybe something funky happening in the options market
• 1:00
  and the derivatives market that is affecting the price?
• 1:04
  There's a lot of questions, there's a lot of theories, but
• 1:07
  today I want to explore what exactly is affecting the price
• 1:11
  of Bitcoin with my always optimistic Co host Opti.
• 1:16
  And we've got, is it two time or three time bookseller Brian
• 1:21
  Demint. Gentlemen, what are your
• 1:23
  thoughts on this whole idea of paper Bitcoin?
• 1:27
  Let's pass it to Brian. Brian, you hit this one.
• 1:29
  Yeah. Well, yes.
• 1:30
  So Luke's spilling the beans here.
• 1:32
  But yeah, we got we got the third book on the way.
• 1:34
  So yes, it is three time author, but that's that's going to be in
• 1:37
  a couple months here. Children's book, actually not a
• 1:40
  not a Bitcoin related book. It has some scarcity things, but
• 1:43
  we'll we'll get into that another time.
• 1:45
  But as far as what's going on, there's, there's a term in
• 1:48
  physics called potential energy when a rubber band is stretched
• 1:53
  or a balloon. You, you blow up a balloon
• 1:55
  there. There's this point at which
• 1:57
  you're, you're wondering why is the balloon not bursting?
• 2:00
  My kids hate when I blow up balloons because they know I
• 2:03
  like to pop them in their face 'cause it's hilarious as a
• 2:05
  father to see your kids just just grimacing at what's about
• 2:09
  to happen. The balloon always takes way
• 2:12
  longer for it to burst. Elasticity means that not every
• 2:16
  balloon bursts at the exact same point.
• 2:18
  So we think about Bitcoin in that regard.
• 2:21
  We remember back to past cycles. We remember 2021 or 2017 and we
• 2:25
  say, you know what, when, when the news was hitting like this
• 2:28
  or, or much smaller news, you know, we in, in 2017, it was the
• 2:32
  Chicago Merchantile Exchange was going to have Futures Trading or
• 2:36
  whatever it was. I, I forget that what that
• 2:38
  popped off on, on the, the CME back in 2017, but that was what
• 2:42
  prompted the bull run was like, wow, you know, regulatory
• 2:46
  clarity is coming around some of these instruments and that was
• 2:50
  enough for things to pop off. We're in a completely different
• 2:53
  thing. The elasticity of this balloon
• 2:55
  is just different. We have, we have different pools
• 2:58
  of capital. We have, we have, we have a
• 2:59
  higher supply of Bitcoin than we did a few years ago.
• 3:02
  And there's, there's a, a meaningful amount of Bitcoin
• 3:06
  that is probably being sold by whales because now whales can,
• 3:10
  can offload a little bit of their Bitcoin.
• 3:12
  It doesn't necessarily mean that they're, they're forgoing their
• 3:15
  entire stack, But a whale who has 1000 Bitcoin can sell 50
• 3:20
  Bitcoin or 20 Bitcoin. And that's a meaningful amount
• 3:22
  of buying power for them in the economy.
• 3:24
  So we have to keep in mind that one of these things happen.
• 3:27
  Will a whale that has 1000 Bitcoin sell more than you know
• 3:32
  his fifty Bitcoin or 100 Bitcoin?
• 3:34
  No, that, that actually stops at some point those OG whales will
• 3:37
  stop being providing liquidity for the over the counter market.
• 3:43
  And, and the, the thing that really makes the, the balloon
• 3:46
  pop and, and by the balloon popping or the rubber band
• 3:49
  stretching and and cracking, what, what, what I mean by that
• 3:52
  is not that the market breaks. I mean that that price explosion
• 3:55
  happens. The, the, the thing that causes
• 3:58
  that to happen is when real retail buyers like you and I are
• 4:01
  we, we, we FOMO so hard or not even you and I, but it's, it's
• 4:05
  our friends. It's that second layer of, of
• 4:07
  retail adoption. It's when they hit the exchanges
• 4:11
  because they're not, they're not timing their buys.
• 4:14
  They're not trying to buy a ton of Bitcoin and do it in a way
• 4:18
  that doesn't affect the price. When your friends come on board,
• 4:21
  they just want to smash buy Bitcoin.
• 4:23
  And that on the exchanges is what prompts these really high
• 4:27
  escalations in price. So the balloon is filling up.
• 4:30
  We're all standing around waiting for it to pop in our
• 4:32
  face. Don't worry, it's going to
• 4:34
  happen. We we have this timidity about
• 4:36
  it, but the potential energy that's building up in Bitcoin is
• 4:39
  very, very real and we're going to reach a critical mass.
• 4:42
  It just takes a bit of time for that to happen.
• 4:47
  I love that idea of elasticity. I hope I said that word
• 4:51
  correctly, but that's exactly what it's like.
• 4:53
  You're pulling back that rubber band, and most people only start
• 4:57
  paying attention to Bitcoin when that thing pops or when the
• 5:00
  beach ball under the water comes back above the water.
• 5:02
  We're all seeing it right now. We're seeing all of the
• 5:05
  fundamentals get more and more bullish every single day.
• 5:08
  We're watching bitcoins leave the OTC desks, billionaires
• 5:11
  buying Bitcoin, a surge of public companies sticking
• 5:14
  Bitcoin on the balance sheet, and the bitcoiners who are
• 5:17
  paying attention to all of these fundamentals and news headlines.
• 5:21
  We're just waiting for the inevitable.
• 5:23
  And I think it's really interesting.
• 5:25
  Today we've got what? Bitcoin $110,000 and retail
• 5:28
  isn't even here. Retail search for Bitcoin on
• 5:31
  Google Trends is at like bear market Lowe's, which is pretty
• 5:34
  crazy. You mentioned something really
• 5:36
  else, something else that was really interesting there, Brian,
• 5:39
  and that was Bitcoin on OTC desks and we pulled that thing
• 5:43
  up. We've seen about 80% of all the
• 5:45
  available Bitcoin on OTC desks disappear over the past five
• 5:49
  years. And again, I'm really you make
• 5:52
  it again. And something else you said that
• 5:53
  was really interesting was that the big money buys on these OTC
• 5:57
  desks. So I'm not surprised that the
• 6:00
  price hasn't surprised us yet and that beach ball hasn't quite
• 6:05
  popped out of that water yet and really started surprising
• 6:08
  everyone yet because there's still about 150,000 Bitcoin left
• 6:13
  on these OTC desks. And I think when this hits zero,
• 6:17
  I think that's when things get really interesting again.
• 6:20
  Who knows when that is going to happen again.
• 6:23
  We have seen that in 2022 there was about 500,000 Bitcoin on OTC
• 6:28
  desks. Now there's about 150,000 Opti.
• 6:33
  What do you think's going to happen when that beach ball pops
• 6:36
  its head above water? Yeah, I mean this chart right
• 6:38
  here is pretty crazy. Like I think I've pushed back a
• 6:42
  little bit on this narrative, Luke.
• 6:44
  I know we like to say there's price suppression.
• 6:47
  You know, someones got to be clamping down on the price of
• 6:49
  Bitcoin right now because it should have been popping right
• 6:52
  now. I know Niko has even been on
• 6:53
  here and I was trolling him before the show with Brian like
• 6:55
  he's he goes through the cycle of like being bullish and then
• 7:00
  being a perma bear. And I just keep saying like,
• 7:02
  dude, just wait, like just give it some time.
• 7:05
  It's gonna RIP by the end of the year.
• 7:07
  It like it almost has to RIP, right?
• 7:09
  But when you see this OTC desk chart, one that's been
• 7:12
  circulating recently, of course, we've all seen the amount of
• 7:15
  Bitcoin on exchanges that seems to be dwindling, but this OTC
• 7:19
  desk chart is really interesting.
• 7:21
  I mean, what is this going back to 2018?
• 7:24
  It's at the lowest it's ever been, or not ever, but it's at
• 7:27
  the lowest amount of Bitcoin on an OTC desk since 2018.
• 7:32
  That's what, 7 years? Like all this is basically
• 7:36
  saying to me that a certain point, this price has to RIP it
• 7:40
  like that. No other conclusion comes to my
• 7:42
  mind than the fact that it has to RIP.
• 7:44
  Now, I'm not really that big on the idea of Bitcoin prices being
• 7:49
  manipulated, being suppressed. From all the data that I've been
• 7:53
  seeing, it just seems like there's more sellers.
• 7:55
  I know we've brought up the metrics here.
• 7:57
  A lot of the whales, as Brian was saying, you know, they are
• 8:00
  kind of, you know, distributing some coins out there.
• 8:02
  We've seen nation states dump 50,000 plus coins.
• 8:05
  We still don't know what's going on with the US and China's
• 8:09
  Bitcoin reserves. They could also be selling
• 8:11
  Bitcoin. So as much as I like to have a
• 8:16
  knee jerk reaction and say like, oh, someone's suppressing the
• 8:18
  price, you know, Larry Fink's here and of course he's going to
• 8:21
  suppress the price on that same kind of tidbit.
• 8:26
  It's like that's good for all of us here.
• 8:28
  We all want cheaper Bitcoin. We all want to get a bigger
• 8:31
  piece of the pie. So I'm not really too convinced
• 8:34
  that there is quote, UN quote price suppression of Bitcoin.
• 8:37
  Yes, we've heard kind of the mechanics of how short markets
• 8:40
  and futures markets have been working and that can potentially
• 8:43
  cause some price suppression in the short term, but in the long
• 8:46
  term, it's bullish. I'm still kind of open to the
• 8:49
  idea that maybe there's some paper Bitcoin that we aren't
• 8:51
  aware of. I don't think it's anything on
• 8:54
  the scale of what happened with FTX where they literally had no
• 8:57
  Bitcoin and they were selling fake Bitcoin basically to
• 9:01
  people. So I really just think it's it's
• 9:05
  more of a timing thing. I think the market just still
• 9:07
  needs to kind of figure out that, yeah, there isn't that
• 9:10
  much Bitcoin. The amount of buys.
• 9:12
  I don't know if you have a chart here, Luke, of the amount of
• 9:15
  liquidity coming in. But yeah, we do have a lot of
• 9:18
  these stories of, you know, billion dollar buys for these
• 9:21
  Bitcoin treasury companies, but we really haven't seen the FOMO
• 9:26
  craves that we've seen in the past when it comes to people
• 9:29
  buying Bitcoin just on the open market.
• 9:31
  So I think I think it's really like a timing thing.
• 9:34
  I think it it it's kind of what Brian was saying.
• 9:36
  It's an elastic thing. It's like right now the balloon
• 9:40
  is filling up, you know, the the supply of Bitcoin is dwindling,
• 9:44
  but it's just not enough to really push up the price yet.
• 9:47
  And we will get to a point, I think probably pretty soon.
• 9:50
  I'm I'm kind of I'm kind of leaning towards, you know, it
• 9:53
  might be a slow summer. Again, I've been saying this,
• 9:55
  it's probably going to be a slow summer guys.
• 9:57
  You have a chance to stack some Bitcoin and then going into
• 10:00
  September and October, November is when we're really going to
• 10:03
  see this price start ripping. But what else do you have here,
• 10:06
  Luke? So I got some numbers here on
• 10:10
  just how much Bitcoin's being bought by the public companies.
• 10:13
  So as you can see, we've got around right now at the time
• 10:16
  recording this is more like 900,000 Bitcoin that's being
• 10:20
  bought by these Bitcoin treasury companies.
• 10:23
  I think that's interesting. I'm more interested in the ramp
• 10:26
  up recently and how this is beginning to.
• 10:29
  I want to be careful with my words.
• 10:31
  It is going parabolic, but the number of Bitcoin treasury
• 10:35
  companies is the number that I'm watching really closely.
• 10:38
  We can see here there's 258 entities right now.
• 10:41
  So these are public companies, private companies, governments
• 10:45
  and ETFs that hold Bitcoin. And that little tiny green
• 10:49
  number here in the top right hand corner of that little,
• 10:52
  we'll call it a toggle, a little square, we've seen 22 of these
• 10:57
  new entities put Bitcoin on the balance sheet in the past 30
• 11:01
  days. That's kind of crazy when you
• 11:03
  start looking at what is the average amount of Bitcoin on the
• 11:07
  balance sheet from these entities.
• 11:10
  I ran the numbers last week and there's about 6000 Bitcoin is
• 11:14
  the average amount of Bitcoin sat on the balance sheet for
• 11:17
  these publicly traded companies. So if you start crunching the
• 11:20
  numbers and you say hang on a minute, we've got 22 new
• 11:24
  treasury companies coming online every month.
• 11:28
  It's what, about four and a half a week?
• 11:33
  If they're putting 6000 Bitcoin on the balance sheet each again
• 11:37
  over some time, we're not saying they're launching with 6000
• 11:41
  Bitcoin, but if they aspire to acquire, that's a little bit of
• 11:45
  a rhyme. 6000 Bitcoin on the balance sheet, All of a sudden
• 11:49
  you start running the numbers and you're like, hang on a
• 11:51
  minute, 450 bitcoins mined every day.
• 11:55
  These guys alone are buying like 15 days worth of supply each and
• 12:01
  we're nearly seeing 4 1/2 of these guys added every single
• 12:07
  week. So I think it's the trend, Opti
• 12:09
  that has me most concerns. Yes, we're seeing a lot of
• 12:13
  Bitcoin on the balance sheet by these treasury companies, but
• 12:16
  it's kind of like it's the trend and it's how fast it's
• 12:20
  accelerating that has me interested.
• 12:22
  I, I think this bull run, a lot of people have been looking
• 12:25
  around saying why aren't altcoins outperforming Bitcoin,
• 12:29
  right in 2017? It was the ICO mania that led to
• 12:33
  this big wave of crypto outperforming Bitcoin in 2020
• 12:37
  and 2021. I think that bull run was cut
• 12:39
  short, but we saw a little bit of this NFT hype and this NFT
• 12:43
  mania and this cycle. All of the altcoiners who are in
• 12:47
  my DM saying, Luke, what's happening?
• 12:49
  My bags aren't pumping like yours.
• 12:51
  What's going on here? I, I think what they're missing
• 12:54
  this cycle could be the fact that maybe because the buyer is
• 12:59
  different this cycle, maybe the kind of things that outperform
• 13:03
  Bitcoin could be different. So again, this cycle, I think is
• 13:07
  being dominated by the big money billionaires, sovereign wealth
• 13:10
  funds, public companies, literal nation states are putting
• 13:14
  Bitcoin on the balance sheet. Do we really think these guys
• 13:17
  are going to be setting up a meta mask wallet and aping into
• 13:21
  poo coins on sushi swap? I don't think so.
• 13:24
  I think these guys, if they want to try to outperform Bitcoin, I
• 13:28
  think they're going to try to do it in the public markets and buy
• 13:31
  trusted companies, publicly traded companies that have 510
• 13:36
  or even 20 years of a track record of being a publicly
• 13:40
  traded company like MicroStrategy.
• 13:42
  People forget this company is like 2530 years old now.
• 13:45
  It's not like this flash in the pan cryptocurrency that just
• 13:49
  popped up on sushi swap last week.
• 13:51
  We're not seeing that this cycle.
• 13:53
  So again, that's just kind of my thoughts on this 2025 cycle.
• 13:56
  Brian Opte, I'd love your thoughts on, you know, is this
• 14:00
  cycle going to be different? I know a lot of people are
• 14:02
  saying, Oh, you the four most unpopular words are in investing
• 14:06
  what this time is different, But I don't know, I I kind of feel
• 14:09
  like it is. I love your thoughts I think.
• 14:11
  You're absolutely right, and I'll say why I think you're
• 14:13
  right on that for two reasons. Luke 1, like Michael Saylor has
• 14:18
  famously said, Bitcoin's either going to a million or zero.
• 14:20
  So I'm, I'm not regurgitating that.
• 14:22
  I'm saying that for the public. You, you noted that plus 22
• 14:26
  publicly traded entities have have added to a added a Bitcoin
• 14:31
  treasury. I'll say instead of the one or
• 14:35
  the 1,000,000 or 0 on Bitcoin, I'll say either all publicly
• 14:38
  traded companies will have Bitcoin on their balance sheet
• 14:40
  or eventually none will have it. There's there's no reason with
• 14:45
  what we know about Bitcoin, what it is as good sound money,
• 14:48
  scarce pristine collateral. If somebody needs to borrow
• 14:52
  against it, any of those qualities that Bitcoin has, it
• 14:56
  does not make sense for Bitcoin just to be like 15% of publicly
• 15:01
  traded entities would have it on their balance sheet.
• 15:04
  It's either good enough for all of them to have it and they will
• 15:06
  all chase it or eventually the people who do hold it will
• 15:09
  realize that this wasn't worth their time and they will get rid
• 15:12
  of it. It's either 0 or all.
• 15:14
  And so which way do you think this is going?
• 15:16
  Well, the numbers seem to indicate that this is going
• 15:19
  towards all of them eventually having it.
• 15:21
  And why would all of them want to have it?
• 15:23
  I mean, Metaplanet is showing this in Japan.
• 15:26
  We're we're seeing, if you're familiar with the dollar
• 15:28
  milkshake theory, we understand that the this is going to be the
• 15:30
  last one to have this problem of, of credit.
• 15:33
  The biggest credit bubble in history is happening around the
• 15:37
  world simultaneously all at once.
• 15:40
  If you're a publicly traded company, one of the things you
• 15:43
  need to do, the reason why you're publicly traded in the
• 15:45
  1st place is so that you have access to capital from
• 15:48
  investors. One of the benefits of Bitcoin
• 15:51
  on your balance sheets is you it gives you another tool to access
• 15:55
  capital if you ever need it because again, Bitcoin, whether
• 15:58
  you and I would do this borrow against your Bitcoin, I actually
• 16:01
  have no problem with it. I think it's a it's, it's a
• 16:03
  great, great way to go. It's better than selling your
• 16:05
  Bitcoin. If a publicly traded company
• 16:07
  holds Bitcoin on their balance sheet, they now have an
• 16:10
  instrument by which they can borrow against and overtime
• 16:14
  their company's going to have access to more and more capital.
• 16:16
  When credit is bursting around the world, when Fiat currencies
• 16:20
  are bursting around the world, this the lifeline, the life raft
• 16:24
  for your publicly traded company will be Bitcoin.
• 16:26
  So again, are all of the publicly traded companies going
• 16:29
  to have Bitcoin on their treasury or none of them?
• 16:32
  I think it's going to be all of them.
• 16:36
  I think that's such a good point.
• 16:38
  Again, CK from the Human Rights Foundation eventually kind of
• 16:42
  drilled something into my head back in like 2020, he said.
• 16:46
  Like the most unlikely outcome for Bitcoin is it's just another
• 16:50
  asset. It kind of just sits at about
• 16:52
  500,000 or $1,000,000 a coin like most people think it will.
• 16:57
  So many people in Bitcoin think, OK, Bitcoin will be this $20
• 17:01
  trillion market cap asset, It'll be worth a million, big ones
• 17:04
  $1,000,000, and it'll just be like a version of digital gold.
• 17:08
  And we'll still have $100 trillion equity market.
• 17:12
  We'll still have a $350 trillion real estate market.
• 17:16
  We'll still have a $300 trillion debt market.
• 17:19
  And then there'll just be little old Bitcoin.
• 17:21
  It'll be worth $20 trillion and nobody will care about it.
• 17:23
  It'll be a pet rock as Warren Buffett calls gold.
• 17:26
  And I think that is the most unlikely outcome.
• 17:30
  If you look at 3 scenarios, I think Bitcoin either dies and
• 17:33
  it's worth 0 or it is worth 10s of millions if not hundreds of
• 17:39
  millions of dollars a coin. And it represents at least 50%
• 17:44
  of the global wealth in the world today.
• 17:46
  We got $900 trillion of capital. Everything is grossly mispriced
• 17:52
  because it's looking for money. It's looking for a safe place to
• 17:56
  sit. So either Bitcoin is what we
• 17:59
  think it is, it is the best savings vehicle in human history
• 18:04
  forever. And if it is that, then the
• 18:09
  majority of the world's wealth that is looking for a safe place
• 18:12
  to go will want to flow into Bitcoin.
• 18:15
  Again, I'm not saying Bitcoin will ease all of the $900
• 18:19
  trillion in the world, not saying that.
• 18:22
  I'm saying that at least half of the money in the world that's
• 18:24
  looking for a safe place, it will move to Bitcoin.
• 18:28
  Again, I'm not saying real estate's going to 0.
• 18:30
  Real estate's going to have value, but it's going to
• 18:33
  eventually shrink to its utility value.
• 18:36
  And if you look at real estate pre 1970, before we blew up this
• 18:40
  massive debt bubble and we left the gold standard real estate
• 18:43
  was priced at I think the average home cost something like
• 18:47
  2 to three times the average person's income.
• 18:51
  If you look in my neck of the woods, Australia, the average
• 18:54
  home in Sydney, Australia is like 22 times the average
• 18:58
  person's income. In Toronto, it's like 15.
• 19:01
  LA, it might be a little bit lower, but it's still like 7 to
• 19:04
  10, which is still grossly higher than the long term
• 19:08
  utility value of real estate. So again, to your point, Brian,
• 19:11
  I think it's a great one. I personally believe Bitcoin is
• 19:14
  all or nothing. Bitcoin is worth 10s of millions
• 19:17
  or hundreds of millions of dollars a coin or it's worth 0.
• 19:20
  I, I genuinely just think these, these models predicting Bitcoin
• 19:25
  to be worth $1,000,000 or $2,000,000 in 2040.
• 19:29
  I, I think they're extrapolating false data.
• 19:31
  I, I, I don't think we should be trusting fancy drawn lines on
• 19:35
  charts because they're not actually able to encapsulate the
• 19:39
  7000 year history of money that we've got.
• 19:42
  Because every single monetary transition we've seen, it's all
• 19:45
  or nothing. Like again, how many people are
• 19:48
  storing value in silver today? 0.01% nobody.
• 19:54
  Why is that? That's because when better money
• 19:56
  comes along, it completely obsoletes prior money and it's
• 20:00
  all or nothing. It's the same with gold today.
• 20:02
  Well, gold was money in the 1800s.
• 20:04
  How many people store money in gold?
• 20:07
  OK, we got $900 trillion of wealth.
• 20:10
  Gold's $21 trillion. Zero .02% of the world still
• 20:15
  uses gold as money. It's been completely obsoleted.
• 20:19
  So again, if we think Bitcoin's better money, it's gonna take
• 20:22
  the majority of the world's wealth.
• 20:24
  So the idea it being $1,000,000, I, I personally think that's
• 20:28
  ludicrous. But again, Opti, feel free to
• 20:30
  just rein in the chat's saying you're being.
• 20:33
  Bearish today. So I don't know make of that as
• 20:36
  you will and and Brian there. I I don't know if I need to
• 20:39
  bring it up here, but the chat remembers Luke came on last week
• 20:42
  and was saying like the most ridiculous price prediction for
• 20:45
  where Bitcoin was going. So he's not living up to his
• 20:48
  bull tardedness here, here on today's show.
• 20:52
  But I think I think Brian made a really good point and you guys
• 20:55
  are both basically summing up how I believe it.
• 20:57
  It's like Bitcoin is either going to 0, it's going to
• 21:00
  something crazy. And I really don't believe it's
• 21:03
  going to 0 at this point. Anyone that's saying it's even
• 21:05
  going down to like 1520 K, I'm still like, I don't know what
• 21:09
  you're looking at with everything we're seeing.
• 21:12
  I don't think that's even a possibility here.
• 21:15
  You know, there's still people saying it's going to 8K or
• 21:17
  whatever the memes were last cycle.
• 21:19
  But I think what Brian was saying is really kind of one of
• 21:25
  the main points and, and whether you like Bitcoin treasuries or
• 21:28
  not, I think every company, if they are a well run, functional
• 21:33
  company will have Bitcoin on their balance sheet.
• 21:35
  Now, does that mean that they're all going to be these, you know,
• 21:38
  strategy at the market, preferred stock, you know,
• 21:43
  convertible notes type company? I don't think so.
• 21:46
  I think those are going to be far and few in between.
• 21:48
  But every country like we say or sorry, yeah, every country,
• 21:51
  every company and every individual will have Bitcoin in
• 21:55
  some form in their portfolio or rather as their savings.
• 21:59
  And I think that's the future we're heading at.
• 22:01
  As we've been saying, it is kind of a 0 sum game.
• 22:03
  It's like do people still use salt?
• 22:05
  Do people still use rocks, you know, whether it's a gold rock
• 22:08
  or a huge, you know, shaped rock out there?
• 22:12
  Do we still use seashells? It's like, no, we have a better
• 22:14
  money technology and it's only a matter of time until the world
• 22:18
  kind of wakes up to this. And we're still early.
• 22:19
  And I think the main point here that Brian said that I think a
• 22:24
  lot of us forget. And we have been saying this for
• 22:26
  a while on the show. Like again, I don't want to be
• 22:29
  the this time is different guy, but this time is definitely
• 22:32
  different. And the reason I'm saying that
• 22:34
  not so much in the sense of this market structure, the price
• 22:38
  structure of Bitcoin, the four year cycle is different.
• 22:41
  But what we do know to be different is the person that
• 22:44
  that is interested in Bitcoin like the the investor is
• 22:47
  different. Now in Bitcoin, it's not just
• 22:50
  retail that's driving the price. Now we have literally the
• 22:53
  biggest institutions and potentially nation states that
• 22:56
  are fundamentally driving this price.
• 22:57
  So whether this means that the Bitcoin cycle is different,
• 23:01
  whether that means the Bitcoin cycle is over, etc, I don't
• 23:05
  necessarily know or think that that is the case.
• 23:08
  But we do know one thing. The narrative around Bitcoin is
• 23:11
  different. The investor that is interested
• 23:13
  in Bitcoin is different. And I think whether that happens
• 23:16
  this year or whether that happens the next five years, one
• 23:19
  thing is for sure, like things are fundamentally changing and
• 23:22
  the Bitcoin market is maturing in real time.
• 23:26
  And that comes with a lot of things that maybe don't align
• 23:28
  perfectly with the, you know, initial libertarian type
• 23:32
  Bitcoiner. But I think we all, if you
• 23:35
  looked at this, even even how Finney was saying this in the
• 23:37
  beginning, you know, if you understand the game theory of
• 23:41
  Bitcoin and how it plays out, the financialization of Bitcoin
• 23:44
  and how it plays out, this was all going to happen and it is
• 23:47
  happening according to plan. So I don't know if this cycle is
• 23:51
  necessarily different. I I'm still convinced, you know,
• 23:54
  end of year it's going to be bullish.
• 23:56
  You guys are probably going to have a good summer of stacking.
• 23:59
  Hopefully you don't take your foot off the gas here, But I I
• 24:02
  still think end of the year we're going to, we're going to
• 24:05
  get some, some crazy price movement.
• 24:07
  It's just it's going to be a slow summer.
• 24:09
  And what's what's crazy is we view this as a great time to
• 24:13
  stack. We're having all time high
• 24:15
  weekly closes, all time high monthly closes and the
• 24:19
  perception is this is a good time to stack.
• 24:22
  To your point, Opti, is this time different?
• 24:24
  Yes, this time is different. When Bitcoin was at 69,000,
• 24:27
  nobody saw that as a good time to stack.
• 24:30
  It was it was frothy. I mean, new guys saw it as a
• 24:33
  good time to get in, but they didn't.
• 24:34
  They weren't, they weren't dollar cost averaging.
• 24:36
  They were taking every dollar they had and buying Bitcoin for
• 24:39
  the first time. This time is different.
• 24:41
  We can see it. It's not theory that it's
• 24:42
  different. It actually is different.
• 24:44
  Bitcoin's 109,000 and we're like, yes, thank God that it's
• 24:48
  staying this low the price. Think about how, what, what
• 24:53
  mechanisms move the price. Again, coming back to the
• 24:56
  basics, it's at the margin. The only people that think
• 25:00
  Bitcoin is worth $109,000 are those very few people that are
• 25:04
  selling it right now. What do 99.99% of Bitcoin?
• 25:09
  People that hold Bitcoin think the prices, they think it's
• 25:11
  something higher than this. That's why the price isn't going
• 25:14
  lower than it is right now. They think it's going higher.
• 25:17
  So what is the the democracy of Bitcoin holders telling us?
• 25:21
  It's telling us that the price is higher.
• 25:23
  You and I think this is a good time to buy.
• 25:25
  Every indication shows that that balloon is stretched very, very
• 25:29
  big, but it's it's not bursting yet.
• 25:32
  Patience, my friend. Hey, Luke, we have a good
• 25:35
  question here and I'm going to pose it to you guys.
• 25:38
  This is Muddy Oaks Homestead. He says, OK, say what we're
• 25:42
  saying is correct. So what do you think the what do
• 25:45
  you believe the catalyst will be to pump towards the year end?
• 25:48
  Like what is our thinking here? What is going to pop this
• 25:51
  balloon? I'm going to pose it to you
• 25:52
  first, Luke. Yes.
• 25:56
  So for me, it's just eventually the supply shock that we've seen
• 26:00
  in Bitcoin will be manifested in the market.
• 26:03
  Brian again has not only made a great analogy, I love that with
• 26:07
  the the hot air and the balloon as well.
• 26:09
  I like that one. It's a different perspective I
• 26:11
  haven't thought about. But eventually like this idea of
• 26:14
  the supply shock will hit the market.
• 26:17
  So again, people know what's triggered Bitcoin bull runs to
• 26:22
  happen every four years. Again, there's still a debate on
• 26:24
  this topic. Is it macro or is it the
• 26:27
  halving? But if I look at both of those
• 26:29
  things, both of them are set up to be incredibly bullish over
• 26:32
  the next, you know, 12 months. So the four year liquidity cycle
• 26:37
  looks as if we are just due now for a large amount of money to
• 26:41
  be printed and interest rates are still very high.
• 26:44
  This is what a lot of people miss Bitcoin the first time
• 26:47
  around, back in 2021 when it ran up to $65,000 a coin.
• 26:53
  What brought Bitcoin down? Bitcoin was brought down by the
• 26:57
  fastest, the fastest interest rate hiking schedule in history.
• 27:01
  And a lot of these macro tech Bros were said, oh, the only
• 27:06
  reason that Bitcoin rallied from 4K to 65K in 2020 to 2021 was
• 27:12
  because we're in this 0% interest rate environment.
• 27:16
  Bitcoin's just a speculative high beta tech stock.
• 27:20
  It's like beta on the NASDAQ. This is the understanding of
• 27:24
  your typical macro bro back in 2020 and 2021 who was caught on
• 27:29
  the sidelines again, scratching the head saying, why is Bitcoin
• 27:33
  outperforming my bags and everything else?
• 27:35
  Well, that was the explanation they put on Bitcoin.
• 27:39
  And when interest rates were raised at the fastest pace in
• 27:41
  history back in 2021 and 2022, Bitcoin crashed and these guys
• 27:47
  were proven right for them. But now bitcoins kind of come
• 27:51
  back from the dead, and right now it's at $110,000, but
• 27:56
  interest rates are still pretty high.
• 27:58
  So all of a sudden that narrative of Bitcoin just
• 28:02
  pumping in a low interest rate environment has been absolutely
• 28:06
  swept under the rug. It's gone.
• 28:08
  It doesn't exist anymore. So I I think interest rates are
• 28:11
  still high. So if they are lowered, this
• 28:14
  could be huge moon juice for Bitcoin.
• 28:19
  We could be putting moon juice into our into our rockets.
• 28:21
  OK, this could be incredibly bullish for Bitcoin.
• 28:25
  We have global money supply. Has it even started expanding
• 28:29
  yet? So we always walk through these
• 28:31
  numbers here on the channel. Each four years we see global
• 28:35
  money supply expand aggressively and it correlates with Bitcoin
• 28:38
  bull runs. So in 2012 and 2013, global
• 28:41
  money supply increased by like 22%.
• 28:43
  Bitcoin rallied by 100 X 2016, 2017.
• 28:46
  We saw this four year wave of global liquidity happen again.
• 28:50
  Liquidity expanded in 20/16/2017 by like 26% globally.
• 28:55
  Bitcoin pump 20X same thing in 2020.
• 28:58
  Global M2 rose by about 50%. Bitcoin rallied by 5X.
• 29:03
  And now over the past two years the global money supply has only
• 29:07
  expanded by like 4%. So again, if you look at
• 29:10
  previous bull runs and these waves of four year global
• 29:14
  liquidity, we haven't even seen it start to actually like
• 29:18
  increase yet, although it is increasing now at the fastest
• 29:22
  pace in about 3 to 4 years, showing us that we're in the
• 29:25
  early stages of liquidity expanding over the next 6 to 12
• 29:29
  months. So I think that's catalyst #1
• 29:32
  it's a long way to explain it, but global liquidity I think, is
• 29:35
  about to expand. And we've got data showing that
• 29:38
  Bitcoin reacts positively when this happens.
• 29:41
  And then of course, we've got the halving.
• 29:43
  So we all know the halving typically triggers Bitcoin price
• 29:47
  booms. Bitcoin typically peaks in these
• 29:50
  bull runs about 12 to 18 months after the halving.
• 29:53
  Historically, we had the halving back in 2024.
• 29:57
  It's now mid 2025. People are kind of looking
• 29:59
  around once again asking themselves the question, what's
• 30:02
  happening? So I think when we've got the
• 30:05
  halving, we've got global liquidity and then we've got a
• 30:09
  third catalyst that Bush people aren't even talking about.
• 30:13
  And that is I think the double harm in that's being created in
• 30:17
  Bitcoin, that's just kind of taken effect.
• 30:20
  And the double harm in he's looking at the Bitcoin and the
• 30:23
  supply that's being ripped off the exchanges from these new
• 30:26
  entities who we continue to talk about billionaires, nation
• 30:29
  states, public companies. Again, let's not forget the
• 30:33
  there's about what 164,000 Bitcoin mined a year and these
• 30:38
  entities have just bought like 5 to 600,000 over the past 12
• 30:42
  months. So I think they are creating a
• 30:45
  little bit of a halving in and of itself just by the amount of
• 30:49
  Bitcoin that they're pulling off the exchanges that I don't think
• 30:52
  is going to return to the exchanges.
• 30:54
  So again, I think we've got 3 catalysts that make me super
• 30:57
  bullish in the short or the medium term.
• 30:59
  Again, I always tell you guys, who knows where the price of
• 31:01
  Bitcoin is going in the short or the medium term.
• 31:03
  I have no idea. And you certainly shouldn't
• 31:05
  trust a kid with this haircut on the Internet to tell you where
• 31:07
  the the price of Bitcoins going in the short or the medium term.
• 31:10
  But I think in the long term, I think the fundamentals that we
• 31:14
  continue to kind of go back to here on simply, I think that's
• 31:18
  what makes me super bullish. But Brian, I'd love your take.
• 31:21
  Yeah. I mean, beautifully said, and I
• 31:23
  don't think I've I've necessarily thought about it
• 31:24
  like that, that that Bitcoin has gone to a new all time highs in
• 31:30
  loose credit under a loose credit policy.
• 31:32
  It's gone under tight credit policy.
• 31:34
  Like it shows that bitcoins eating whatever type of monetary
• 31:37
  policy is on the table. That brilliant.
• 31:41
  I mean, I got it got me extra, extra pumped here.
• 31:42
  I don't know what I'm more bullish on though, is what you
• 31:44
  just said or the the Luke's hair comments.
• 31:48
  If you if guys go to YouTube and go through the comments it these
• 31:52
  are freaking hilarious. What I appreciate about the
• 31:57
  Trump administration is we as as conservatives or libertarians
• 32:02
  over the last few years, we've gotten used to Nancy Pelosi and
• 32:07
  her husband making the most brilliant stock picks ever,
• 32:10
  right? They outperform every hedge fund
• 32:12
  because they've called it right every single time.
• 32:14
  But we always found out afterwards, right?
• 32:17
  It was it was in there reporting as public officials where they
• 32:20
  had to kind of report these things after the fact.
• 32:23
  What is the the Trump administration and the people,
• 32:25
  the people in it like Howard Lutnick, who's the the Secretary
• 32:29
  of Commerce, which means he's in charge of the entire economy of
• 32:32
  the United States, like the domestic economy in the United
• 32:34
  States and all business in there.
• 32:36
  He's that the secretary that reports to President Trump.
• 32:39
  What is he doing? What is Don Junior doing?
• 32:42
  What is Eric Trump doing? These guys that know and then
• 32:46
  that are on the inside, they know what policy not Howard
• 32:49
  Lutnick is not just he doesn't. He doesn't just know what
• 32:52
  policy's about to come. He's helping formulate the
• 32:55
  policies that are about to come. He started his or his company,
• 33:00
  Cantor Fitzgerald, started a Bitcoin acquisition company, Don
• 33:05
  Junior, Eric Trump. These guys are either doing
• 33:08
  mining companies or Bitcoin acquisition companies.
• 33:10
  They're just, they're telling the public I'm doing whatever I
• 33:13
  can under any financial instrument I possibly can or any
• 33:17
  type of entity I can create right now.
• 33:19
  I'm going to buy and hold Bitcoin and they're going to
• 33:21
  conferences and telling people that that's what they're doing
• 33:24
  it. It'd be like if Nancy Pelosi
• 33:26
  told you 10 years ago she was going to be buying NVIDIA or
• 33:29
  anything that she was doing public policy around, we would
• 33:32
  say, you know what, at least, yes, she's going to benefit from
• 33:35
  that. She's using her knowledge to
• 33:37
  enrich herself. But at the same time, at least
• 33:39
  she's going to conferences and telling people ahead of time,
• 33:41
  this is what she's doing before any kind of legislation or
• 33:45
  bureaucratic, you know, protocols are or are put around
• 33:50
  these types of things. And So what what's happening?
• 33:54
  Why am I bullish? The writing is on the wall.
• 33:56
  The people who hold the power to say like we know what's right
• 34:01
  around the corner in terms of United States, the most
• 34:04
  powerful, richest country in human history.
• 34:08
  We know what they're about to do.
• 34:10
  And what we're doing personally and in our personal and in our
• 34:13
  businesses is we're buying as much of this particular asset as
• 34:17
  we possibly can. If that was beans or if that was
• 34:20
  corn and they and they were buying up as much as they can, I
• 34:23
  would be buying beans or corn as well.
• 34:25
  Because I'd say, you know what, these guys that know what
• 34:27
  policies coming up, they're buying a lot of beans and corn.
• 34:30
  What are they buying? They're buying Bitcoin and they
• 34:33
  have no intention of selling it. The writing's on the wall and
• 34:36
  there's a lot of transparency in this.
• 34:38
  So whether you think that these guys are good or bad, that
• 34:40
  that's not what matters. They're telling you what's
• 34:42
  happening. There's no reasonable way to
• 34:46
  think that Howard Lutnick is buying as much Bitcoin and
• 34:50
  holding as much Bitcoin as he possibly can because negative
• 34:53
  Bitcoin legislation or negative Bitcoin policy is going to
• 34:57
  happen in September. So why do we keep saying
• 34:59
  September is this date? It's because the cryptozar David
• 35:02
  Sachs says that that's when these things are going to start
• 35:04
  to roll out. This is when Trump right now is
• 35:06
  talking about tariffs. He's talking about the war in
• 35:09
  Iran and and Israel. He does these things in stages.
• 35:12
  And so better believe it. Trump has an agenda, like
• 35:16
  literally a calendar agenda. And I think what everybody's
• 35:19
  telling us is in September, Trump is going to be turning his
• 35:22
  focus, his rhetoric, his bully pulpit towards Bitcoin and what
• 35:27
  they want to do from a pro Bitcoin position.
• 35:30
  Every time Trump gets on the mic about a particular issue,
• 35:32
  everybody starts talking about it and that's what's coming.
• 35:36
  That's in part why I'm bullish. Love it, love it.
• 35:40
  Yeah, I mean mine. I'm a, you know, you guys got
• 35:42
  into a lot more intricate takes than I would have.
• 35:45
  I'm a simple, you know, 40. I think my IQ is dropping.
• 35:48
  I think now it's like 43. I think I'm at 43 IQ now.
• 35:53
  My catalyst is simple, just more people buying, which means the
• 35:57
  price goes up and as the price goes up, more people start
• 36:01
  buying. Like it's as simple as that.
• 36:03
  It's a it's a self fulfilling feedback loop.
• 36:06
  What we all know, whether you, you know, like who said this
• 36:10
  here? Someone just said it in the chat
• 36:14
  Sat wise Jinx. He goes, you know, I've been in
• 36:17
  Bitcoin for so long, like at this point, I don't even look at
• 36:20
  the Bitcoin price and I I have always been joking forever like
• 36:24
  that is true Bitcoin Zen there. We're like, yes, you look at the
• 36:28
  price, yes, it's like, you know, you get a good dopamine rush,
• 36:32
  but you really kind of don't care.
• 36:34
  All you really care about is are you coining more sets?
• 36:37
  Well, that's like when you're at the very bottom of the rabbit
• 36:40
  hole. For most people, they care about
• 36:43
  the price. When they see the price start
• 36:44
  ripping, that's when they want to buy it.
• 36:47
  I don't know why humans are like this, but as the price goes up
• 36:50
  more, that's when they really want to buy Bitcoin.
• 36:52
  It really does remind me of the meme going around for a while.
• 36:54
  Bitcoin has a Veblen good. The more expensive it gets, the
• 36:58
  more expensive it gets, the more people want to buy it.
• 37:00
  And then like, if you like Bitcoin at 100K, you probably
• 37:05
  like it at 58 K, like it's just on discount.
• 37:09
  It makes no sense to me how people can look at Bitcoin hit
• 37:12
  all time highs. It pulls back and they're like,
• 37:14
  yeah, you know what, actually, I want it to go lower because, you
• 37:17
  know, I, I want to buy more of it.
• 37:19
  And then it goes lower and then they don't buy it.
• 37:21
  But then Bitcoin starts ripping and they're like, actually I
• 37:24
  need to buy this now because it might never come down to these
• 37:28
  prices again. So I really think it's just a
• 37:30
  feedback loop as we've been seeing, we're seeing all kinds
• 37:33
  of institutional demand for Bitcoin.
• 37:35
  The ETFs have literally just scooped up, I think it was 1.24
• 37:39
  million overall. The the Black Rock ETF in
• 37:43
  itself, I think it's at like 600 or 700,000 coins right now.
• 37:47
  Corporate treasuries, as Luke was explaining earlier, buying a
• 37:50
  shit ton of Bitcoin. It's like as these companies,
• 37:54
  institutions, nation States and individuals, you know, some of
• 37:58
  the wealthiest people in the world start to buy Bitcoin.
• 38:00
  It just starts becoming a no brainer for people and then once
• 38:03
  enough people get there, then everyone wants to buy it.
• 38:06
  But it really does revolve around the price of Bitcoin.
• 38:10
  As it goes up, people want to buy it.
• 38:12
  I don't know why humans are like this, but it's as simple as
• 38:15
  that. As more people buy, the price
• 38:16
  goes up. As the price goes up, more
• 38:18
  people buy. And then maybe we hit a a
• 38:21
  critical point and we see a correction.
• 38:24
  But I think the catalyst is just simply the price starting to
• 38:27
  move with more people coming in. Like it's as simple as that to
• 38:29
  me. Yeah, you mentioned Veblen good.
• 38:33
  I know we have a jam packed show, but remind me after the
• 38:37
  break to ask me about a Veblen threshold because I think Samson
• 38:43
  Mail has a really good thesis on what is a Veblen threshold and
• 38:47
  what happens when Bitcoin reaches that.
• 38:50
  I think we should dive into that, but yeah.
• 38:51
  Actually, we'll scrap the numbers.
• 38:53
  We'll do Veblen threshold in the numbers today.
• 38:55
  Yeah guys, we're we're running way late.
• 38:57
  I just looked at it up. We're running super late on
• 38:59
  today's show. But hey, you guys like more
• 39:01
  shows. So if you like this content, of
• 39:03
  course smash the like button comment on the show.
• 39:06
  What is going to be the catalyst to make the Bitcoin price go up
• 39:09
  and of course, hit the subscriber button.
• 39:11
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• 39:14
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• 40:46
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• 40:48
  into the metal plate with this hammer.
• 40:51
  So once your words are in, they aren't going anywhere.
• 40:55
  No risk of the plate breaking apart and your pieces falling
• 40:59
  everywhere. Titanium stamp seeds will
• 41:01
  survive nearly triple the heat produced by a house fire.
• 41:05
  They are also crush proof, waterproof, non corrosive and
• 41:09
  most importantly, because this is generational wealth time
• 41:13
  proof, all things that paper is not allowing you to huddle your
• 41:19
  Bitcoin for the long haul. I mean, here is the plate that
• 41:23
  they crushed, they put in water, they put a blowtorch to it.
• 41:27
  And as you can see, the words have survived.
• 41:30
  Stamp your seed on stamp seed and you can use promo code
• 41:35
  simply to get 15% off anything on their store.
• 41:39
  Head over to stampse-ed.com today.
• 41:45
  All right, guys, let's just go over some quick numbers while we
• 41:49
  continue this conversation. So of course, the Bitcoin price
• 41:52
  today is currently at $108,900 per Bitcoin.
• 41:55
  It's a decline of -2.8% from all time high.
• 42:00
  We're currently sitting around a $2.17 trillion market cap.
• 42:04
  And then of course, the current block height is 904,624.
• 42:09
  So I am pivoting right now because Luke brought up
• 42:12
  something good. So let's talk about you said
• 42:15
  Beblin threshold. So as I explained, A Beblin
• 42:18
  good, it's a simple idea. Don't let the big word kind of
• 42:22
  confuse you here. It's just basically, you know, a
• 42:26
  good something that you buy that as it gets more expensive, it
• 42:29
  kind of makes people want to buy more of it.
• 42:31
  Think of it like a, you know, a car or like a a painting or like
• 42:36
  a Rolex watch something that kind of gives you status.
• 42:39
  It's luxury. But as it gets more expensive,
• 42:42
  instead of kind of persuading people not to buy it, it makes
• 42:46
  them want to buy it more. That's like a layman's term of
• 42:49
  what a Veblen good is. But Luke introduced this new
• 42:52
  idea of a Veblen threshold. I feel like I'm familiar with
• 42:57
  this. I've definitely heard this.
• 42:58
  But Luke, the floor is yours. What is the Veblen threshold?
• 43:04
  You're muted. I think you're muted.
• 43:05
  Oh, there you go. Yeah, You're delayed.
• 43:07
  Your thing's delayed. Yeah.
• 43:08
  All right. There you go.
• 43:10
  So I was interviewing Samsung one day and he, he was talking
• 43:13
  about a Veblen good. And then he threw back at me,
• 43:16
  oh, Bitcoin's actually going to hit a Veblen threshold.
• 43:20
  I was like, what? What is that?
• 43:21
  My mind was broken on the interview.
• 43:23
  I couldn't think. And I've been thinking about it
• 43:25
  a lot and it kind of makes a lot of sense.
• 43:27
  Like most people are used to Bitcoin kind of going parabolic
• 43:30
  in bull runs, and then you see a big capitulation afterwards.
• 43:35
  But there could be a world in the future where Bitcoin's going
• 43:37
  on a bull run and there's some sort of a threshold that he's
• 43:40
  reached and all of a sudden there's no capitulation
• 43:43
  afterwards. It literally is going up
• 43:46
  forever, Laura. So that is kind of the idea of a
• 43:49
  Veblen threshold. Bitcoin hits some sort of a
• 43:51
  critical mass or a critical tipping point where I think the
• 43:56
  volatility actually explodes. A lot of people sharing the
• 43:59
  chart of Bitcoin doing diminishing returns.
• 44:03
  Again, each bull run it's getting smaller and smaller.
• 44:06
  2013 we got 100 X 2017 we got a 20X2020, we got a 5X.
• 44:11
  Everybody's saying, oh, we're going to get a 3X this bull run
• 44:14
  because diminishing returns. Again, I see the data.
• 44:17
  I just don't think that's going to be how Bitcoin is monetized.
• 44:22
  I think we are going to be in a bull run one day and there's
• 44:25
  some sort of a critical tipping point.
• 44:29
  I don't know what the price tag is going to look like.
• 44:32
  I don't know when it is going to come.
• 44:34
  But the thesis is how I think Bitcoin's going to get adopted.
• 44:39
  And it is my base case that Bitcoin gets adopted in some
• 44:42
  really strange exponential curves because it's just what
• 44:46
  happens. Eventually there's going to get
• 44:48
  to a point where there's no Bitcoin on the exchanges,
• 44:52
  there's no Bitcoin on the OTC disks, and all of a sudden there
• 44:56
  could be trillions of dollars in the fixed income market or the
• 45:01
  debt market that wants to get out and wants to buy Bitcoin.
• 45:06
  And you've got to think about this.
• 45:07
  Yes, I agree with everybody who says, but Luke, there will
• 45:11
  always be sellers of Bitcoin. They will 100%.
• 45:14
  There's going to be people selling Bitcoin, there's going
• 45:16
  to be OG holders selling Bitcoin.
• 45:19
  But at that Veblen threshold where there's no Bitcoin on the
• 45:22
  exchanges and there's no Bitcoin on the OTC desks, your hodlers
• 45:26
  could be selling 1,000,000 coins like they did in 2024 and 2025.
• 45:31
  OG Bitcoin Hodlers sold a million Bitcoin.
• 45:34
  That is true, that's a fact. But they could put a million
• 45:38
  Bitcoin on the exchanges in the future.
• 45:40
  But if you've got just $5 trillion from the $315 trillion
• 45:45
  fixed income market that is trying to come into Bitcoin, the
• 45:50
  corrections are going to be very shallow.
• 45:52
  They're not going to be these 80% corrections like we used to
• 45:56
  it I, I, I expect volatility is going to actually explode when
• 46:00
  we hit this Veblen threshold. And the spikes and the
• 46:03
  volatility we see on the chart are going to be much more like
• 46:07
  the volatility that we saw during the German hyperinflation
• 46:11
  way back in the 1920s. Most people would have seen the
• 46:14
  chart and it has overlaid on the chart of gold pricing, German
• 46:19
  marks. It has the volatility overlaid
• 46:23
  on it and we saw like 880% corrections in five years.
• 46:29
  That's just how steep the volatility was.
• 46:31
  And the closer we got to the German mark hyperinflating, the
• 46:35
  more the volatility got. So again, I'm not saying the US
• 46:39
  dollar is going to hyperinflate tomorrow, I'm not saying that.
• 46:41
  But what I am saying is that Bitcoins adoption is going to
• 46:44
  look more like that. The volatility is going to
• 46:48
  continue to get bigger and bigger the closer we get to its
• 46:51
  saturating its total addressable market cap.
• 46:54
  So a way that I think about this is I think the volatility is
• 46:57
  going to increase until we get to about $100 trillion market
• 47:01
  cap. When we get there, that's when
• 47:03
  we start talking about diminishing returns.
• 47:06
  I, I don't think we should be talking about diminishing
• 47:08
  returns and bitcoins volatility decreasing when it's 0.2% of the
• 47:14
  world's capital. It is the best savings vehicle
• 47:19
  in the world. It has a total addressable
• 47:23
  market cap of $900 trillion and people are talking about
• 47:26
  diminishing returns. It's zero point.
• 47:30
  It's ridiculous. And that's kind of do you let me
• 47:33
  know if you guys have any questions about this idea of a
• 47:36
  Veblen threshold. But it's a little bit of a
• 47:38
  difficult concept to wrap your mind around.
• 47:41
  And I had to think about it for weeks before I understood it.
• 47:44
  But I I think it's a really interesting thought experiment.
• 47:47
  Yeah, no, it's great. We did get AII like this.
• 47:50
  Comment here in the chat Winsome when some hacks it goes that's
• 47:53
  not the case with Bitcoin. As Bitcoin gets more expensive,
• 47:56
  it de risks weirdly, as the price goes up, it becomes more
• 48:00
  acceptable to conservative investors.
• 48:02
  And I I think we're kind of saying the same thing.
• 48:04
  It's just like, you know, what's all parables or whatever like
• 48:08
  it, it really doesn't necessarily relate to reality,
• 48:12
  but it just gives you a good map of what's going on.
• 48:15
  Or rather, you know, the map and the terrain are completely
• 48:18
  different. But since we are dealing with
• 48:20
  something that is so completely alien, you know, alien
• 48:24
  technology, something that we're haven't really seen ever in any
• 48:28
  one of our lifetimes, You do kind of use these different
• 48:31
  examples to kind of grasp just the basic ideas of what's going
• 48:34
  on. But I, I do, I do agree with
• 48:36
  what Winsome is saying. Like as the price gets more, as
• 48:40
  it becomes more saturated in the culture, it completely gets de
• 48:43
  risked. Like right now, I think it's the
• 48:44
  least risky time to be buying Bitcoin.
• 48:47
  And I think all of us feel this way, even though there's still
• 48:50
  people that are like, it's 100K, it might dump and you're like,
• 48:53
  it doesn't really matter at this point.
• 48:54
  This is the least risky time to be buying it.
• 48:56
  But back to your point, Luke, I do kind of agree with you at a
• 49:02
  certain point that and I don't know what, we obviously don't
• 49:06
  know where that is, but there will be a point where the
• 49:10
  diminishing returns beam just like isn't viable anymore.
• 49:15
  I believe in the S curve adoption of Bitcoin.
• 49:17
  It's a new technology. I don't even think we've seen
• 49:20
  the S curve yet. Like we haven't seen the
• 49:21
  parabolic move of the S curve. We're still kind of in the early
• 49:25
  innings of Bitcoin adoption. If again, if you know the S
• 49:28
  curve, it's like like can I do it on here?
• 49:30
  Wait, no, how do I do it? All right, it goes wait like
• 49:34
  that and then it goes up. I'm sorry, it's it's hard to do
• 49:37
  it backwards. This is just the beginning of it
• 49:41
  and there will be that point where as the price goes up,
• 49:45
  there will be AI guess a escape velocity and it just starts
• 49:49
  ripping and then eventually it'll taper off.
• 49:53
  I don't think it's there like it, just the sheer number and
• 49:57
  size of the available capital that can come into Bitcoin.
• 50:00
  It doesn't make sense to me in regards to just a personal
• 50:04
  heuristic of all the people you talk about.
• 50:05
  Most people still think you're an idiot if you if you buy a
• 50:07
  Bitcoin. Most people aren't comfortable
• 50:09
  with, with their life savings going into Bitcoin.
• 50:13
  Only us, you know, psycho. What do they call it?
• 50:16
  Shadowy super coders, illiterate economists or whatever they used
• 50:20
  to call us are like, hey, we have literally nothing to lose
• 50:23
  here. Let's just go all in on this
• 50:25
  thing. It's going to take over.
• 50:27
  And people that have wealth are obviously more risk averse and
• 50:31
  they don't want to lose their wealth.
• 50:32
  Whereas if you're, you know, a young kid, you probably got a
• 50:36
  couple $1000. Like I, I literally had like
• 50:38
  $200 when I first started with Bitcoin.
• 50:40
  I was like, you know, what's the problem with me losing this
• 50:43
  $200? Like I'm broke anyways.
• 50:45
  I'm going to spend it on freaking lunch tomorrow.
• 50:48
  Like I really have nothing to lose.
• 50:50
  They're like there's levels to this here.
• 50:52
  And I, I just, I don't think we've gotten to a point yet
• 50:55
  where it's completely de risked and people are, are that
• 50:59
  comfortable with going all in on Bitcoin, even like the sailors
• 51:02
  out there like, yeah, sailor now he's going all in.
• 51:06
  But when he started, he, you know, he just bought like a
• 51:08
  little 10,000, you know, Bitcoin at a time, you know, like we
• 51:12
  don't even have the financial advisors out there saying, yeah,
• 51:16
  you should probably go 50%. We've seen it kind of inch up.
• 51:19
  It's like 1 to 2%. Then it went to five, then it
• 51:22
  went to 10 and now we're going to like 40%.
• 51:25
  It this is just beginning. Anyways, Brian, I I think I kind
• 51:29
  of rambled there a little bit. No, it's great.
• 51:32
  I, I think that that Veblen threshold, I, I hadn't heard
• 51:36
  that term threshold. So I'm sitting here thinking
• 51:38
  about what is that threshold that it, it aligns, I think with
• 51:41
  my thesis on the, the parallel economy and when the, when the
• 51:44
  Bitcoin parallel economy is going to kind of manifest it,
• 51:48
  it, it exists out there, right? People buy and, and, and, you
• 51:51
  know, sell goods in Bitcoin or buy and sell services in
• 51:54
  Bitcoin. That happens, but it doesn't
• 51:56
  necessarily happen at scale. Shout out.
• 51:59
  That's one of the the great things about Orangeville app is
• 52:01
  it's a great way to find those people if you are trying to
• 52:04
  participate in that economy. But all I have to say is that
• 52:09
  most of us are familiar with the the four step cycle of monetary
• 52:14
  adoption. So money historically, if it, if
• 52:18
  it gets widely adopted, its first phase is it starts out as
• 52:22
  a novelty or a collectible. The second phase is when it gets
• 52:25
  into the store of value phase. So people go beyond like, oh,
• 52:28
  this, this, this shiny gold rock is neat and I like to put it on
• 52:31
  my shelf. Oh, well, the store value phase
• 52:34
  is when you realize that other people put it on their shelves
• 52:37
  as a collectible and therefore you can capitalize on it as a
• 52:40
  store of value. The third phase is the medium,
• 52:43
  medium of exchange phase where people started to buy and sell
• 52:45
  things in gold. And then the fourth phase was
• 52:47
  the unit of account when people actually kept their books in
• 52:51
  gold. That was kind of like the final
• 52:52
  boss of money is if you can get to the unit of account phase.
• 52:55
  Well, we're clearly in the store value phase.
• 52:57
  We've passed the collectibles phase.
• 52:58
  The collectibles phase was when you can get 22 pizzas for 10,000
• 53:02
  Bitcoin. People didn't know how to to
• 53:03
  correctly price Bitcoin of course, or that's what its
• 53:06
  market value was at the at the time.
• 53:08
  And so it was clearly a collectible back then.
• 53:10
  Or when you could go to a website and click a button and
• 53:12
  get 5 Bitcoin every day for free.
• 53:15
  That was the Bitcoin collectible phase.
• 53:17
  Well, we're clearly in the store value phase.
• 53:20
  The next phase that is going to come if Bitcoin, if we, we all
• 53:23
  say it's good sound money. We all say that it's the best
• 53:27
  form of money ever. So to me, it seems abundantly
• 53:32
  clear that the next phase is the medium of exchange phase.
• 53:36
  Whether you want to spend your Bitcoin or not.
• 53:38
  I believe that's where this is going.
• 53:40
  I believe that's the inevitable nature.
• 53:42
  And why is that phase so powerful for the buying power of
• 53:46
  Bitcoin? Or you want to call it the price
• 53:47
  of Bitcoin? Because when when Bitcoin gets
• 53:49
  used as money, it is never hitting the exchange.
• 53:53
  The exchange is where the price of Bitcoin gets suppressed.
• 53:57
  So when you if if I have a Bitcoin right now and I want to
• 54:00
  go buy a car, if I need to sell that Bitcoin, turn it into cash
• 54:04
  to go get the car, well, guess what?
• 54:07
  I'm suppressing the price of Bitcoin 'cause I'm going to the
• 54:09
  exchange. But when enough people use it as
• 54:12
  a medium of exchange, it never has to touch the exchange.
• 54:16
  And who do I report to when somebody comes into one of my
• 54:19
  Wellness studios and wants to buy, you know, a cold plunge in,
• 54:21
  in sauna session and, and they pay me in Bitcoin.
• 54:25
  Am I ever reporting that somewhere that oh, some Bitcoin
• 54:27
  got exchange And so the price of Bitcoin?
• 54:29
  No, no, no, that that is secret exchange of money that never
• 54:34
  suppresses the price of Bitcoin. So not only is what Luke talking
• 54:38
  about is going to happen at these pools of capital that are
• 54:40
  coming from all corners of the world, but we're talking about
• 54:43
  pools of capital from people who actually don't have a lot of
• 54:46
  investable assets, but they do have money in their checking and
• 54:50
  savings account. They and when, when the majority
• 54:53
  or all of the money in their checking and savings account
• 54:55
  turns into Bitcoin, cause Bitcoin is the best medium of
• 54:58
  exchange, we see a sticky price of Bitcoin again that, that,
• 55:04
  that Beblin effect or that Beblin threshold where Bitcoin
• 55:07
  is going up forever. Well, why would the price of
• 55:09
  Bitcoin ever come down when people are now holding Bitcoin
• 55:12
  not in their savings account, but in their checking account?
• 55:15
  That is a different paradigm for Bitcoin, and I believe that's
• 55:18
  where we're headed. Bars.
• 55:21
  Absolute bars. I love that.
• 55:23
  Brian, the chat agrees with you on that.
• 55:25
  All right, guys, again, I am running late on today, so I'm
• 55:28
  going to RIP through this news story and I really want to chat
• 55:30
  about what Brian is doing with Orange Pelop.
• 55:33
  So again, I'm going to RIP through the news story.
• 55:36
  We'll chat about a little bit, but I'm really trying to get to
• 55:39
  what Brian's doing. I really think it's a noble
• 55:41
  thing here, so let's just get through the show.
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• 58:13
  All right, guys, let's RIP through this real quick.
• 58:15
  So Frank Korba, if you don't know who he is, political
• 58:17
  correspondent at the Bitcoin magazine, he's literally has a a
• 58:22
  pass to be at the White House as one of the journalists he
• 58:26
  tweeted this. AUS court has dropped Coin
• 58:27
  Center's appeal to OFAC regarding Tornado Cash, but the
• 58:31
  developers behind the tech are still facing criminal charges.
• 58:34
  So looking at this guys, and we've been talking about this
• 58:36
  going on for a long time. You know, historically or rather
• 58:40
  very infamously on the show, there was 1 defining moment
• 58:44
  where Nico fully crashed out and that's when the Samurai wallet
• 58:48
  guys got arrested. But before that, when this case
• 58:51
  happened, we were seeing the writing on the wall and this is
• 58:54
  when we came out very vocal in the November elections last
• 58:59
  year. So here we go, headline U.S.
• 59:02
  court brings Coin Center's Tornado Cash appeal to a close.
• 59:06
  So Coin Center's appeal to the US Treasury Department's Office
• 59:08
  of Foreign Asset Control, AKA O FAC regarding Tornado Cash is
• 59:12
  now over. So one good thing out of this,
• 59:15
  but there's still a lot to go on.
• 59:17
  And before everyone's like, OK, this Tornado Cash, what's this
• 59:20
  have to do with Bitcoin, guys? Again, we said when this
• 59:23
  initially happened that this was a precedent being set to clamp
• 59:27
  down on privacy tools, not only in Bitcoin, but in the whole
• 59:31
  space. And that's exactly what happened
• 59:33
  here. So on July 3rd, 2025, the US
• 59:35
  Court of Appeals for the 11th Circuit agreed to end an appeal
• 59:39
  that crypto advocacy group Coin Center, excuse me Coin Center,
• 59:43
  made to OLFAC regarding the etherium based mixing service
• 59:46
  Tornado Cash. This decision by the court
• 59:49
  occurred approximately 2 1/2 months after the US Treasury
• 59:52
  Department removed Tornado Cash from its OFAC sanctions list
• 59:55
  after having kept it on the list for over three years.
• 59:57
  The dismissal of this case officially ends Coin Center's
• 1:00:00
  challenging Ofac's decision to include Tornado Cash on its
• 1:00:04
  sanctions list. And then you can see here.
• 1:00:06
  Peter Van Valkenburg, executive Director at Coin Center,
• 1:00:09
  commented on X earlier today that the government did not want
• 1:00:12
  to continue to defend an interpretation of sanctions law
• 1:00:15
  that seemed too broad. So here it cuts off and.
• 1:00:18
  To go here to the tweet and it goes.
• 1:00:20
  This is the official end to our court battle over at the
• 1:00:23
  statutory authority behind the tornado catch sanctions.
• 1:00:27
  The government was not interested in moving forward and
• 1:00:29
  defending their dangerously over broad interpretation of
• 1:00:32
  sanctions laws. Thank you again to our Co
• 1:00:34
  plaintiffs trustless state who got dusted and said bring it on.
• 1:00:38
  Developer Patrick O'Sullivan, who simply hoped to get paid a
• 1:00:41
  salary with privacy and our John Doe, who supported the defense
• 1:00:44
  of Ukraine on chain while dodging Gru countermeasures.
• 1:00:48
  Now going back to the article to really clear up clear up some of
• 1:00:51
  the stuff here. This appeal being dropped comes
• 1:00:54
  in the wake of a memo from the US deputy attorney general Todd
• 1:00:57
  Blanche, in which he stated the US Department of Justice will no
• 1:01:00
  longer target crypto technology like mixers.
• 1:01:03
  So again, on the one hand, a huge win, I would say, and
• 1:01:06
  hopefully we see something of the sort play out for samurai.
• 1:01:10
  Of course, they're still on trial.
• 1:01:12
  But despite this fact, this appeal has been dropped and
• 1:01:14
  Tornado Cash is no longer in the OFAC sanctions list.
• 1:01:17
  The creator of this technology are still facing criminal
• 1:01:20
  charges. Tornado Cash Co founder
• 1:01:23
  developer Roman Storm is scheduled to appear in federal
• 1:01:26
  court in the Southern District of New York on Monday, July
• 1:01:29
  14th, so of next week. And then of course, you can see
• 1:01:33
  later, Alexi Pertsev, forgive me, he was found guilty of money
• 1:01:39
  laundering in May in the Netherlands and was sentenced to
• 1:01:42
  five years in prison. And the other guy, they don't
• 1:01:44
  know where he is. So on the one hand, I think this
• 1:01:48
  is a good step towards what we would like to see here at Simply
• 1:01:52
  Bitcoin. Of course, famously ever since
• 1:01:55
  the samurai wallet arrest is when we kind of crashed out on
• 1:01:59
  the show and we took a very, very strong line in the sand
• 1:02:04
  here. So it looks like what we've been
• 1:02:06
  seeing around from the Trump administration and all the other
• 1:02:10
  institutions associated, they are seemingly going to kind of
• 1:02:13
  walk back a lot of the attacks that we've been feeling as an
• 1:02:17
  industry, whether you're in shit coins or not.
• 1:02:20
  On the other side, let's hope for the best for these
• 1:02:23
  developers because again, I think that's going to be
• 1:02:25
  precedent moving forward and really in hopes that this gets
• 1:02:29
  cleared out so that the Samurai wallet guys also get cleared of
• 1:02:34
  something very similar. So, you know, I don't know if
• 1:02:36
  you guys want to touch on that real quick.
• 1:02:38
  I think it's a good thing to see kind of that they are pulling
• 1:02:42
  back a little bit. We'll still have to wait and see
• 1:02:45
  what happens next week. You know, who knows what really
• 1:02:49
  happens when it, when it comes to the courts here.
• 1:02:51
  But I'm, I'm feeling optimistic here.
• 1:02:54
  It does seem like with Trump coming in, they are actually
• 1:02:57
  doing a good thing for the Bitcoin industry or even the
• 1:03:00
  shit coin industry at large. And hopefully we can minimize
• 1:03:03
  these attacks for the next three years and further.
• 1:03:06
  So tentatively bullish on this. You guys want to do a quick take
• 1:03:11
  and then let's let's RIP it over so that we can chat about what
• 1:03:14
  Brian is doing over there at Orange Pearl app.
• 1:03:17
  Luke, I know you've been on the beat for a while.
• 1:03:19
  So what's your thoughts on this? And then we'll pass it to Brian
• 1:03:21
  and keep it moving. I think you're muted or yeah,
• 1:03:29
  you're muted or there's a delay or something here.
• 1:03:34
  Yeah, I'll, I'll go. I think your mic fell.
• 1:03:36
  I used to have a mic down, but I, I think, OK, so one of the
• 1:03:41
  things and, and whether you want to call these guys martyrs or
• 1:03:44
  whatever one, just from a security standpoint, I think the
• 1:03:49
  altcoin industry acts as a Moat for Bitcoin.
• 1:03:52
  It's a weaker target. It's a softer target for, for
• 1:03:55
  attackers, for for politicians, for whoever it is, is coming
• 1:03:59
  after Bitcoin. So you can look at it that way
• 1:04:01
  is that they're still kind of a Moat around Bitcoin, whether you
• 1:04:03
  like that industry or not. But two, and if you don't want
• 1:04:07
  to call them martyrs for Bitcoin, that's fine.
• 1:04:10
  Maybe it's not the best analogy, but if you look at movements of
• 1:04:14
  history that permeate the entire world, that spread around the
• 1:04:18
  entire world, look at what happens to their martyrs.
• 1:04:22
  Like, for example, Ross Albrecht was, was a martyr of Bitcoin.
• 1:04:26
  He's been freed, he's been pardoned.
• 1:04:29
  The, the, the martyrs of Bitcoin are actually gaining, they're,
• 1:04:33
  they're propelling the movement forward.
• 1:04:36
  Movements that get snuffed out that don't, that aren't
• 1:04:38
  impactful to history. We, we don't really know many of
• 1:04:41
  those stories off the top of our head because those stories are
• 1:04:45
  kind of irrelevant. But there's plenty of movements
• 1:04:47
  in history that tried to build steam and tried to change the
• 1:04:49
  world. But as soon as they're their
• 1:04:51
  leaders or the people that were kind of making the movement
• 1:04:55
  happen, as soon as they get imprisonment or fines or they
• 1:04:58
  got any kind of oppression, the movement gets shut down.
• 1:05:02
  And so like, look at Christianity, for example, the,
• 1:05:06
  the early Christians were fed to lions.
• 1:05:08
  They were put in prison, they were stoned to death.
• 1:05:10
  And then you go a couple generations later and now
• 1:05:12
  they're, they're, yes, they're still being oppressed, but
• 1:05:14
  they're at least getting to get a voice before Caesar.
• 1:05:17
  They can go make their case before Caesar, even if they're
• 1:05:20
  still being oppressed. And then you go a couple
• 1:05:21
  generations after that and now all of a sudden they're advisors
• 1:05:25
  to Caesar. That right.
• 1:05:26
  The the the path of the martyrs is one of the biggest indicators
• 1:05:30
  as far as the health of the future of your movement.
• 1:05:34
  If your martyrs go from being oppressed to being influential,
• 1:05:38
  or being oppressed to the release of oppression, then
• 1:05:42
  that's actually a very good sign that your that your movement has
• 1:05:47
  power in those upper echelons and at least has a voice in
• 1:05:50
  those upper echelons. Yeah, 100%.
• 1:05:52
  Couldn't agree more with that, Brian.
• 1:05:54
  OK, Luke, are you back? I'm back, I have a little
• 1:06:00
  magnetic clip on my microphone and got stuck to my girlfriends
• 1:06:03
  neck face so I was trying to stay what was.
• 1:06:06
  Going on over. There.
• 1:06:11
  What are you doing? I'll keep a PG right on the
• 1:06:12
  show. So what I was going to say
• 1:06:14
  before I had to go and retrieve my microphone was I'm not
• 1:06:18
  bullish on Freedom go up in the short term.
• 1:06:21
  In the long term, I am because of things like what Brian is
• 1:06:25
  building with the Orange Pool app.
• 1:06:27
  But I think in the short term, I'm seeing some, let's call it
• 1:06:31
  precedent set in America that I think is very optimistic.
• 1:06:34
  Like with Trump releasing Ross Ulbricht, maybe this sets a
• 1:06:38
  little bit of a precedent around the world or especially in
• 1:06:41
  America by saying, hey, you can build technology and put it out
• 1:06:46
  there in the world and we're not going to come and arrest you
• 1:06:49
  just because we don't like the technology or building.
• 1:06:52
  Again, think about that for a minute.
• 1:06:53
  Ross didn't commit a crime and the guys at Samurai didn't
• 1:06:56
  commit a crime. I need to be careful what I say
• 1:06:59
  so we don't get us in trouble, but I think people should be
• 1:07:02
  able to build technology. I don't think people should get
• 1:07:05
  in trouble for building or developing a technology that
• 1:07:09
  gets used by people we don't like.
• 1:07:12
  Again, I think that's kind of my just first principles view of
• 1:07:16
  the world. So I think I'm optimistic that
• 1:07:19
  in the short term in America, there's some sort of protection.
• 1:07:22
  But again, the reason why I said I'm only long term bullish is
• 1:07:27
  because if you're in the UK or in my former home country, if
• 1:07:31
  you share a meme on Facebook, you could have police knocking
• 1:07:35
  at your door the next day. So again, I think we've got a
• 1:07:37
  little bit of a battle to go through over the next decade,
• 1:07:42
  especially Europe and a lot of the other Western countries that
• 1:07:45
  have lost their mind, like Canada on New Zealand and
• 1:07:48
  Australia. I think it's going to be a
• 1:07:50
  little bit more of a longer battle for those guys, which is
• 1:07:53
  again, why I'm so bullish on technologies that enable us to
• 1:07:58
  opt out. Again, there is what, 10s of
• 1:08:01
  millions of Bitcoiners around the world?
• 1:08:02
  But it kind of sucks that we're all living in different
• 1:08:04
  countries. So again, I'm super bullish on
• 1:08:07
  encrypted technology that allows us to actually chat all around
• 1:08:11
  the world. They can't turn the Internet off
• 1:08:13
  despite some countries trying to buy a wallet like China.
• 1:08:16
  They can't stop communications. Super bullish on Nosta, super
• 1:08:21
  bullish on Bitcoin. Super bullish on what you know,
• 1:08:24
  things like Brian is building with orange peel app.
• 1:08:27
  So again, I think sovereignty is spreading around the world.
• 1:08:31
  The rise of the digital nomad is right now absolutely
• 1:08:34
  unstoppable. Again, just think about this for
• 1:08:36
  a minute. The Internet kind of really
• 1:08:39
  started hitting its straps in the year 2000.
• 1:08:41
  We saw the tech bubble boom. Most people started to become
• 1:08:45
  familiar with the idea of a computer.
• 1:08:48
  Laptops were soon then invented. But in the year 2000, how many
• 1:08:53
  people were working remotely around the world?
• 1:08:55
  Let's say it was zero. OK.
• 1:08:57
  And between the years 2000 and 2018, there were 6,000,000
• 1:09:02
  digital nomads. So it took about what, 18 years
• 1:09:05
  plus 6,000,000 digital nomads to emerge and say, you know what,
• 1:09:09
  adios Chao, I'm out of my home country.
• 1:09:12
  I'm going to go and work remotely from a different
• 1:09:15
  country that actually treats me better and doesn't try to attack
• 1:09:19
  and milk and tax and trace my capital.
• 1:09:22
  But again, think about 2018. We talk about inflection points
• 1:09:25
  a lot. And I think 2020 was an
• 1:09:27
  inflection point for Bitcoin. But then in 2018, there was a
• 1:09:30
  massive inflection point of people leaving the West and
• 1:09:34
  going and moving their business and their jobs online and
• 1:09:37
  working remotely. And since 2018, we've seen
• 1:09:40
  6,000,000 digital nomads leave their home countries every
• 1:09:43
  single year. And today there's 35,000,000
• 1:09:47
  digital nomads. So again, we're talking about S
• 1:09:49
  curves and S curve adoptions. And just think about how many
• 1:09:53
  sovereign individuals are now escaping their Western countries
• 1:09:57
  and going and working remotely. Again, This is why I'm not only
• 1:10:02
  bullish on Bitcoin, but I'm also bullish on the overall digital
• 1:10:05
  nomad movement. Like we are the fastest growing
• 1:10:09
  trend behind Bitcoin adoption. So again, a lot of people are
• 1:10:12
  like they're looking at AI and it's like, I don't want to get
• 1:10:16
  too far off track, but so many people are saying, oh, AI is
• 1:10:19
  this technological revolution. It's the thing of the the 21st
• 1:10:22
  century. No, it's not.
• 1:10:24
  It's it's Bitcoin and it's working remote.
• 1:10:26
  Like those are the big exponential trends actually
• 1:10:30
  making really big impacts on government.
• 1:10:33
  So without getting too lost, then going down too, too many
• 1:10:36
  different tangents. That's kind of my thoughts on on
• 1:10:38
  the recent developments there with the love it.
• 1:10:40
  Luke love it. I'm sure we could go down that
• 1:10:42
  rabbit hole. Maybe next time you're on we'll
• 1:10:44
  go down that rabbit hole, but we have a new rabbit hole to go
• 1:10:47
  down and it is what Brian is working on over at Orange pill
• 1:10:52
  app. And you know, it might it might
• 1:10:53
  sound a little doomer ish here, but I actually think it's kind
• 1:10:57
  of hopeful here and it really kind of is a good piggyback off
• 1:11:00
  what Luke just said about bitcoiners building community,
• 1:11:03
  sovereign individuals. So let's get into this last
• 1:11:06
  segment and let's chat about what the orange pill app is
• 1:11:09
  talking about and rather not talk about doing.
• 1:11:12
  They're an app of action here, so let's get into it.
• 1:11:17
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• 1:11:39
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• 1:11:42
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• 1:12:02
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• 1:12:59
  All right, Brian, let's start with what is orange pill app and
• 1:13:04
  then of course, talk about your your new Geo zapping feature,
• 1:13:09
  but how you guys are relating this to real world, you know,
• 1:13:14
  environmental effects, like real world things happening in the
• 1:13:18
  news right now. So quick, quick pitch, you know,
• 1:13:21
  what is orange pill app for the new people that aren't familiar
• 1:13:23
  with it? And then let's talk about what
• 1:13:25
  you guys just did. Yeah.
• 1:13:28
  Thank you. Well, it, it, it definitely
• 1:13:30
  relates to the story. We, we just did because there's
• 1:13:32
  features and functions like I'm going to talk about today is the
• 1:13:34
  the new orange pull up wallet that we, we did not want to
• 1:13:40
  build until the regulatory shift from this administration.
• 1:13:43
  Like building a wallet and seeing what happened to the
• 1:13:46
  samurai guys or the tornado cash like like seeing what happens to
• 1:13:50
  these people. It is actually prohibitive.
• 1:13:51
  And there's countries that like if you, if you build an app that
• 1:13:55
  has a Bitcoin wallet in it, like there's countries that I don't
• 1:13:58
  want to travel to right now because it's probably like
• 1:14:01
  unfriendly territory of like you built an app that has this
• 1:14:04
  wallet. So that's the beautiful thing
• 1:14:05
  about the regulatory clarity, the the, the, the release of
• 1:14:09
  tension around building wallets like this.
• 1:14:11
  But in a nutshell, Orange bull app is just a social network to
• 1:14:15
  connect bitcoiners. You don't need another social
• 1:14:17
  media. You have X, you have noster you
• 1:14:19
  you have YouTube and rumble what you can communicate to people
• 1:14:23
  through. If you want to meet bitcoiners
• 1:14:25
  in real life, whether that's meeting up at events, whether
• 1:14:29
  that's finding the Bitcoin that lives in your neighborhood.
• 1:14:32
  Do you want to go and grab coffee with That's why orange
• 1:14:34
  pull app exists. It's the in real life component
• 1:14:37
  of Bitcoin as things go to AI and like Luke said, AI, whatever
• 1:14:40
  it's, it's, I don't think it's the big it's, it's going to
• 1:14:43
  impact the world, no doubt, but I don't think it's the biggest
• 1:14:46
  thing happening in the world because what's going to happen
• 1:14:48
  is AI is going to do a lot of stuff for us.
• 1:14:50
  It's also going to just produce so much noise on the Internet
• 1:14:53
  that the Internet, I think in the not too distant future is
• 1:14:56
  going to be unbearable. You're going to have a few
• 1:14:58
  spots. You're going to land, you're
• 1:15:00
  going to land on Luke's show. You're going to land on simply
• 1:15:01
  Bitcoin. You're going to go to a few
• 1:15:03
  brands that you know and trust. You're going to see what they
• 1:15:05
  have to say. And then you're going to want to
• 1:15:06
  get the heck out of the Internet because it's going to be filled
• 1:15:08
  with so much noise. The last island of of signal is
• 1:15:13
  going to be your in real life community.
• 1:15:15
  And so I think that's where you can find the alpha in Bitcoin is
• 1:15:18
  by finding the real bitcoiners that are around you.
• 1:15:21
  Like when I went to the the Las Vegas conference last month, we
• 1:15:25
  we organized an event for after one of the nights where all the
• 1:15:29
  Orangeville app people came and we had a party.
• 1:15:31
  We got to hang out in real life with these people that it takes
• 1:15:35
  you from the abstract in the Internet phase to the in real
• 1:15:38
  life and actual like a handshake and a hug and eye contact and
• 1:15:42
  the special video sequences that that make a real connection even
• 1:15:47
  that much more valuable. I'm so while what we do here on
• 1:15:50
  the Internet is important and it's part of the digital or it's
• 1:15:54
  a part of the future, the digital side, the physical
• 1:15:56
  connection. I think a lot of people are
• 1:15:58
  sleeping on how big the physical is going to be and so we build
• 1:16:02
  tools for that. We earlier this year, our
• 1:16:05
  developers are freaking amazing. They built the coolest Bitcoin
• 1:16:09
  wallet Lightning wallet out on the market right now, and why
• 1:16:12
  it's so cool is because it has functions that no other wallet
• 1:16:15
  can even can even possibly have because of the nature of orange
• 1:16:18
  pull app. We have wallets that are
• 1:16:21
  approximate Geo located, so you can turn on your location
• 1:16:25
  services and then find wallets that are in your proximity.
• 1:16:28
  Why would you want to do that? Well, if you want to spend
• 1:16:30
  Bitcoin with a Bitcoin business that accepts sats, I found my
• 1:16:35
  Barber through there. I found my plumber through
• 1:16:36
  there. I found people in my community
• 1:16:38
  who I can who I can exchange sats with for various goods and
• 1:16:41
  services. There's ranchers on there.
• 1:16:43
  Texas Slim, the big beef guy. You can buy beef from him that's
• 1:16:48
  clean grass fed from a regenerative farm.
• 1:16:50
  You can exchange sats with him because of of the nature of in
• 1:16:55
  real life connections on orange pull up and the really cool
• 1:16:58
  thing that is happening with this Geo zapping.
• 1:17:00
  And so when I say Geo zapping, I'm talking about being able to
• 1:17:03
  send SAT because they're in a specific location.
• 1:17:07
  Think about the humanitarian efforts that are coming along
• 1:17:10
  with this. So you can go into Orange Peel
• 1:17:11
  app right now, you can type in Hunt, TX, or you can type in
• 1:17:14
  Texas, and you can send SAT to every single person in Texas.
• 1:17:19
  Well, why would you want to do that?
• 1:17:20
  Well, if you've been reading the headlines, you're also aware
• 1:17:23
  that there's a catastrophe going on.
• 1:17:25
  People are losing their lives that that there's flooding in
• 1:17:28
  Texas and and when natural disaster occurs or when man made
• 1:17:33
  disaster occurs. The orange flap wallet is one of
• 1:17:36
  the most beautiful solutions for sending SAT so that the Bitcoin
• 1:17:40
  social layer, So you and I, the Bitcoiners of today, can send
• 1:17:45
  resources, can send sats permissionlessly across
• 1:17:50
  cyberspace to other Bitcoiners who need it.
• 1:17:53
  Because think about it, in these flooded areas, yes, FEMA's going
• 1:17:56
  to come in and they're going to eventually set up tents and
• 1:17:59
  they're going to eventually give these people a check for $700.00
• 1:18:02
  to maybe give, you know, buy them a few meals.
• 1:18:04
  That's going to happen in like 2 weeks by the time that money
• 1:18:07
  hits their account in seconds, Bitcoiners from around the world
• 1:18:11
  can send SAT to bitcoiners who are in that area.
• 1:18:15
  And it's it's a revolution unlike ever before.
• 1:18:18
  We have over 17,000 bitcoiners on the app.
• 1:18:21
  That number just continues to grow everyday.
• 1:18:23
  So when we get to 1,000,000 Bitcoiners that are on this app,
• 1:18:26
  the social dynamic in the amount of social resource that we're
• 1:18:30
  going to be able to send to people around the world when
• 1:18:33
  catastrophe happens, it's going to be quite possibly Bitcoin is
• 1:18:37
  going to be the biggest humanitarian group in world
• 1:18:40
  history because we have tools like the orange for lap
• 1:18:43
  lightning wallet and the functionality of Bitcoin across
• 1:18:46
  time and space. What's what's being built here
• 1:18:49
  is, is game changing world building.
• 1:18:51
  And I, I hope that people in the audience today want to be a part
• 1:18:54
  of that because it's, it's something truly special and
• 1:18:56
  we're really excited about it. Yeah, no, it's honestly honest.
• 1:19:01
  It's it's incredible. And this isn't wouldn't be the
• 1:19:03
  first time that you guys have literally helped areas in need.
• 1:19:09
  I'm thinking of the LA fires as well.
• 1:19:11
  You guys were a huge part of that.
• 1:19:13
  I know a lot of bitcoiners were finding places to sleep at, you
• 1:19:18
  know, getting people to reach out and be like, hey, man, I
• 1:19:21
  know you're in the area. Do you need somewhere to stay?
• 1:19:24
  Do you need some help? So it wouldn't be the first time
• 1:19:27
  that you guys have actually helped the real world events.
• 1:19:30
  And it's it's it's honestly kind of incredible when you just like
• 1:19:34
  we created a social app and then you realize, wait, the community
• 1:19:38
  aspect of this and helping people that might be the real
• 1:19:42
  mission of orange pill app here is just helping people around
• 1:19:45
  the world in need. And now with the Geo zapping,
• 1:19:48
  it's like it's it's almost like when you create, when Zuck
• 1:19:51
  created Facebook, whatever you think is intentions where it
• 1:19:54
  grew into something bigger than what it is.
• 1:19:56
  And this seems like one of those moments over here at Orange Full
• 1:19:59
  App. Yeah.
• 1:20:00
  It it, it begs the question, yes, Bitcoiners are going to be
• 1:20:04
  the the people of the future that who are the the richest
• 1:20:09
  people because they have the best money and the best buying
• 1:20:11
  power. What happens when you connect
• 1:20:14
  these well informed, conscious people who ask questions about
• 1:20:20
  power structures, but they also have a heart for other people?
• 1:20:24
  What happens when you bring those people together?
• 1:20:26
  Well, that's the experiment that we're running with orange pill
• 1:20:28
  app is what what is this going to fundamentally do to the
• 1:20:32
  future of humanity when the good people have power and social
• 1:20:39
  connectedness? I'm I'm very bullish.
• 1:20:42
  People ask me all the time, what are you bullish about?
• 1:20:44
  I'm bullish about the, the Bitcoin price or the Bitcoin
• 1:20:47
  buying power because what it, of what it's going to do for
• 1:20:49
  Bitcoiners and what we're doing with connecting bitcoiners on
• 1:20:53
  the other side. Because it's, it's one thing to
• 1:20:54
  have a bunch of, if you have a million bitcoiners that are all
• 1:20:57
  rich, that's great because you have them circling around,
• 1:21:00
  cycling around in the world, hopefully doing good things.
• 1:21:02
  But when you take those million people and you put them
• 1:21:05
  together, I think that the network effect of that has
• 1:21:08
  vastly more impact on the world. And it, like you said, the LA
• 1:21:13
  fires was another good example of that.
• 1:21:15
  We had a ton of activity through Bitcoin of people sleeping on
• 1:21:18
  people's couches or giving them their guest room for days or
• 1:21:21
  weeks at a time simply because they reached out.
• 1:21:25
  Like Bitcoiners were doing that. Hey, I know I I live, I live 3
• 1:21:29
  hours away from the fire. They were DM ING other people
• 1:21:32
  that they knew lived in LA and said, Hey, do you want to come
• 1:21:35
  stay at my house or hey, I have an Airbnb down by the beach.
• 1:21:39
  So people were getting like vacation rentals for free while
• 1:21:42
  their while their neighborhoods were tragically burning down.
• 1:21:45
  And so, yeah, what what are the impacts going to be of this as
• 1:21:48
  continue, whether it's man made disasters or natural disasters
• 1:21:51
  of the future, Bitcoiners get to be part of that solution.
• 1:21:55
  Yeah, I know it's awesome, Brian.
• 1:21:56
  And, and one thing I do want to echo, and I, I'm sure Luke feels
• 1:22:00
  something similar, but ever since I got into the big coin
• 1:22:04
  space, obviously you have these connections online and usually
• 1:22:09
  like these really cool people, like minded individuals, but
• 1:22:12
  everyone's on the Internet. And then ever since I joined
• 1:22:15
  simply, I basically moved and lived around Bitcoiners with
• 1:22:19
  Bitcoiners and not like my whole life is just like all my closest
• 1:22:23
  friends are Bitcoiners. And so I know what the power is
• 1:22:28
  of building a network around you of like minded individuals.
• 1:22:31
  And if you are out there and you're the sole crazy person
• 1:22:35
  that you know, I highly recommend getting on orange peel
• 1:22:39
  apps so that you can build a local community of like minded
• 1:22:42
  individuals that are also, you know, on the same plane as you.
• 1:22:44
  Like I, it's really invaluable that idea here.
• 1:22:48
  It's not just about your personal wealth going up, but it
• 1:22:51
  is about building a community around you of people that you
• 1:22:54
  can trust that, you know, have the same ideas as you, that have
• 1:22:57
  the same ethos as you. And it is very lonesome when
• 1:23:01
  you're the sole crazy person. And by crazy, I mean lovingly
• 1:23:05
  and endearing. Like when you're the sole
• 1:23:06
  bitcoiner, everyone thinks you're crazy, But when you get
• 1:23:09
  other around other bitcoiners, you realize like you're not the
• 1:23:12
  crazy 1. And I think that power, it's
• 1:23:16
  really underrated of just building like minded individuals
• 1:23:20
  around you. And again, if you don't have
• 1:23:22
  that right now, like I highly recommend getting on orange pill
• 1:23:25
  app and starting to create that. It's it's really an invaluable
• 1:23:28
  tool in your life. I'm by default Opti's friend.
• 1:23:33
  Yes, you are, yes, you are. Luke, you want to chime in here?
• 1:23:36
  I, I know you have something similar.
• 1:23:38
  You only hang out with Bitcoiners, you travel with
• 1:23:40
  them. That's all you know.
• 1:23:42
  So thoughts on this? I have no normally friends.
• 1:23:47
  I cut them all out of my life. I actually, I haven't talked to
• 1:23:51
  or seen any of my like high school friends in many, many
• 1:23:54
  years. And again, nothing against them.
• 1:23:57
  I wish them happy birthday, but that's about it.
• 1:23:59
  So for me, I only really, again, I haven't gone back to Australia
• 1:24:03
  in five years. I've been traveling remotely for
• 1:24:05
  the past, you know, four to five years now.
• 1:24:07
  I've just been a professional homeless bum, so to say.
• 1:24:11
  And again, I just travel from conference to conference.
• 1:24:14
  I've actually used Brian's app multiple times.
• 1:24:16
  I love the orange peel app. I use it at whatever conference
• 1:24:18
  I go to. So again, it gets the ticket
• 1:24:21
  approval from me. And again, I just, yeah, I mean,
• 1:24:24
  I'm super bullish on meeting other Bitcoiners.
• 1:24:26
  I think in the Bitcoin space in particular, there's this
• 1:24:30
  obsession is the wrong word, but let's call it hyper focus on
• 1:24:34
  financial sovereignty. And again, I can say this
• 1:24:37
  because this was something that I learned about myself in 2020.
• 1:24:41
  I thought I was the most sovereign kids going around,
• 1:24:44
  right? I, you know, I've got my Bitcoin
• 1:24:46
  in self custody, multi sig, all this, all that I'm, I'm hyper
• 1:24:51
  sovereign, right? This is how I thought of myself
• 1:24:52
  in 2020, but nothing could stop me.
• 1:24:55
  Then the whole lockdown shenanigan happened in Australia
• 1:24:59
  and I was like, oh shit, hang on a minute.
• 1:25:02
  Yeah, I've got financial sovereignty, but that doesn't
• 1:25:04
  mean squat if I don't have geographical sovereignty or if I
• 1:25:08
  don't have sovereignty over my own income.
• 1:25:11
  Again, I had a gym business at the time that I had to ask my
• 1:25:14
  government's permission to use, and I had friends around the
• 1:25:18
  world who I had to ask my government's permission if I
• 1:25:21
  could go and see them, and I wasn't allowed to do that for
• 1:25:24
  two years. I was locked in my prison cell
• 1:25:26
  in Australia. So again, financial sovereignty
• 1:25:29
  is great and that's what Bitcoin's for.
• 1:25:31
  But again, I just remind people, think about your geographical
• 1:25:34
  sovereignty and think about taking sovereignty over your own
• 1:25:38
  revenue streams. So yeah, I love traveling, go to
• 1:25:41
  every Bitcoin conference as many as I can.
• 1:25:43
  And I do use apps like the Orange People app to connect
• 1:25:46
  with other like minded individuals because like you
• 1:25:48
  said earlier, Opti, we are a little bit, let's call it
• 1:25:50
  different I. Mean, to be fair, Luke, I've
• 1:25:53
  never seen anyone with that haircut so.
• 1:25:59
  One-of-a-kind. one-of-a-kind. That's what I like to think.
• 1:26:04
  I'll tell you what, you don't see many of these Bitcoin
• 1:26:06
  conferences anyway. I'm certainly one of the
• 1:26:08
  weirdest chaps going around with this haircut.
• 1:26:10
  But I will say, yeah, I think I'm bullish on Bitcoiners and we
• 1:26:16
  are growing each conference I go to, there's more people each and
• 1:26:20
  every time. So yeah, I think go and shake
• 1:26:23
  some Bitcoiners hands in person. Every time I go to a conference.
• 1:26:28
  I feel dead during those conference days, like just
• 1:26:31
  exhausted. But the weeks following that
• 1:26:33
  conference, I feel recharged, reinvigorated.
• 1:26:37
  It's nice to have those connections and like, in person
• 1:26:42
  Bitcoin conversations, but more broadly, like, just
• 1:26:44
  conversations about, you know, how we see the world and how
• 1:26:47
  that's evolving. So yeah, Super Bowl, I love it.
• 1:26:49
  All right, Brian, I'm gonna give you the final, final message
• 1:26:53
  here for the audience called the action.
• 1:26:55
  Whatever you want, last plug around Orange Palapa or life in
• 1:26:59
  general. You do have some good life
• 1:27:01
  advice here. So, last plug, what do you want
• 1:27:03
  to tell the audience before we wrap up?
• 1:27:05
  Never pissed into the wind. No, I'm scared.
• 1:27:08
  No. Yeah.
• 1:27:10
  It it, it it's pretty, pretty basic, man.
• 1:27:13
  The life advice is the best things you do in life always
• 1:27:17
  involve other people in real life.
• 1:27:19
  The best moments of your life, the most magic moments, the
• 1:27:22
  things you look back on fondly, they involve other people.
• 1:27:25
  And so Bitcoin all time high days are coming.
• 1:27:29
  These days are going to be magic.
• 1:27:30
  You're going to be euphoric. But I, I tell you what, there's
• 1:27:32
  so much more euphoric when you have other bitcoiners that you
• 1:27:35
  get to sit around with and chat about it.
• 1:27:37
  Like your, your desire to find other Bitcoiners and go grab a
• 1:27:42
  beer or grab a coffee is going to be at an all time high when
• 1:27:45
  Bitcoin is at an all time high. So make those connections.
• 1:27:48
  Now that's, I know as bitcoiners, sometimes we feel
• 1:27:51
  like, OK, I've stacked every sat I possibly can and on Friday I'm
• 1:27:55
  going to stack some more SAT because that's when my that's
• 1:27:57
  when my buy goes through. What else can I be doing?
• 1:28:00
  Well, interacting with bitcoiners is is critical.
• 1:28:04
  I'm a big proponent of the Bitcoin parallel economy.
• 1:28:08
  A lot of Bitcoiners don't want to spend their stats.
• 1:28:10
  I understand that. So the next best thing you can
• 1:28:12
  do is hang out with other Bitcoiners.
• 1:28:14
  How tragic would it be if Bitcoin goes to 100 million per
• 1:28:18
  coin, like Luke said? What was his bullish prediction?
• 1:28:20
  It was like, I don't I. Don't.
• 1:28:22
  It was 7 billion. 7 billion per coin if Bitcoin goes to 7
• 1:28:27
  billion per coin and and governments at some point they
• 1:28:31
  say they they get just super tyrannical with the exchanges
• 1:28:35
  because they know that they can control the off ramps and you
• 1:28:37
  don't want to feed your family bug protein.
• 1:28:39
  You want to feed them good clean beef, but yet you don't know
• 1:28:43
  somebody with whom you can spend your Bitcoin.
• 1:28:46
  Like it doesn't matter how much value your Bitcoin has if you
• 1:28:49
  don't have an off ramp for it. If your only off ramp is the
• 1:28:52
  exchanges, the government sanctioned exchanges, then
• 1:28:56
  you've limited your scope of how you can use Bitcoin.
• 1:28:59
  So the best thing you can do is build those connections right
• 1:29:02
  now. You don't have to go out and
• 1:29:03
  spend your stats, just find and no other bitcoiners.
• 1:29:07
  It's an insurance policy for the future.
• 1:29:09
  And I tell you what, it's just freaking fun.
• 1:29:11
  It's a good time along the way. And so, yeah, you want to be
• 1:29:14
  more proactive in Bitcoin, Meet other Bitcoiners. 100% perfect
• 1:29:19
  way to send this off guys. Bitcoin is not just about a
• 1:29:22
  technology Ledger, it's not just about the price.
• 1:29:26
  It's about the people and your sovereignty and your freedom.
• 1:29:29
  And part of that is building a resilient community around you.
• 1:29:34
  One day we'll get to the citadels.
• 1:29:36
  Until then, you got to have you know, you got to have your
• 1:29:39
  troops and the people behind you.
• 1:29:41
  So Congrats on that Brian. It.
• 1:29:43
  It really is incredible just to see how big orange pill app has
• 1:29:48
  grown and and the real life impact that you guys have had in
• 1:29:52
  the community. So shouts out to you and Mateo
• 1:29:54
  and everyone over there working shouts out to all the debs man.
• 1:29:57
  You guys are absolutely killing it.
• 1:29:59
  All right guys, on that note, this has been simply Bitcoin.
• 1:30:02
  Thank you for Luke for filling in last minute.
• 1:30:05
  Thank you, Brian for coming on again.
• 1:30:06
  Always love having Brian on here, guys, We will see you
• 1:30:09
  tomorrow. Same time as always, a little
• 1:30:11
  after 12:15 PM Eastern Time when we go live and of course, hit
• 1:30:16
  the subscribe button because we are dropping all kinds of fire
• 1:30:19
  content for you guys from Ruston, Dante, and Oceans.
• 1:30:22
  Literally no one else is doing what we're doing.
• 1:30:25
  We'll see you tomorrow, man Peace out.
• 1:30:27
  This has been your boy Opti. We'll see you tomorrow.
• 1:30:30
  Today's episode was brought to you by bitcoinwell.com, a
• 1:30:34
  Bitcoin only platform on a mission to enable financial
• 1:30:37
  independence.