Latest / Simply Bitcoin / Largest Bank in Europe Wants to Custody Bitcoin | EP 534

Transcript

Largest Bank in Europe Wants to Custody Bitcoin | EP 534 · Simply Bitcoin

0:05
Welcome to another episode of Simply Bitcoin.
0:07
We're talking about the Bitcoin, use the memes, the fails, the
0:11
fails, by the central Bankers government's, we have it.
0:13
All will keep you in the loop for this peaceful Bitcoin
0:17
Revolution. But anyways opting it's time for
0:21
brought to you by not old, they make some of the best Bitcoin
0:24
notes like the not a one. The one I'm holding in my in my
0:27
hands around your own version of Bitcoin core.
0:28
The lightning Network pool and Dojo all from the comfort of
0:32
your own home. Remember guys, if you don't run
0:35
your own Bitcoin node like the noddle, you're trusting someone
0:38
else's Aunt. If you're on the go your digital
0:42
Nomad now you could run inaudible through a virtual
0:45
private server. Visit not all dot-eu at the time
0:48
of this recording. The Bitcoin.
0:49
Price is 23,000 $815 SATs per dollar.
0:54
Also known as Moscow, time, 4199 Bitcoin.
1:00
It's in corporate treasuries 1 million six hundred and sixty
1:04
thousand Bitcoin block height, seven hundred forty forty five
1:08
thousand, seven hundred and eighty two, the amount of
1:11
reachable Bitcoin nodes, 15,000 157, percentage issued ninety
1:17
Point, 94% blocks to having 90 4218 having estimate.
1:23
I'm looking forward to that date April 18, 20 24, the block
1:28
subsidy value, Third and forty, eight thousand nine hundred and
1:32
six. And for anyone, that doesn't
1:34
know that right roughly every 10 minutes, a Bitcoin block is
1:38
found the new transactions are included in that block and the
1:42
Bitcoin network will rewards the minor.
1:45
That found that block with the block subsidy right now, it's at
1:49
6.25 or roughly 140,000 dollars in two years that 6.25 will get
1:58
cut in half. All right, Next thing I want to
2:02
address. We got a very interesting
2:03
comment from, definitely a friend, and let's pull it up
2:09
from nappy wise. I'll pop it up.
2:11
On screen for you guys, Nico, can you explain why you
2:15
advertise not? Oil is self custody, it's this.
2:19
The same as e running with nodes running.
2:22
On Amazon web server or Compass miners selling mining minor
2:26
Services. I bought a novel Dojo a few
2:29
months back with you. Starting advertising on your
2:31
channel, as well as a my note. Thanks to the information from
2:34
Phil, just wondering what changed your opinion, okay?
2:38
That's an excellent question. I actually reached out to the
2:41
natto, guys, so that they could answer the question.
2:45
And of course, you know, I know a little bit about this, so I'll
2:47
chime in as well. Let me pull it up.
2:50
Okay, so I sent it to them. They said unchain coins are
2:56
always self custody because you're using a hardware or
3:00
mobile wallet with them for lightning.
3:02
It's on the server but you're still the only admin root of the
3:07
server. So of course you have to trust
3:09
us to some extent but still better than to trust Amazon.
3:13
And on the trust set up with a cloud provider, you all will you
3:17
also have a WS a non Bitcoin company with thousands of
3:21
employees versus noddle a Bitcoin.
3:24
Company that actually owns the hardware in this case.
3:28
So, there's trade-offs for sure, but we're clear about these and
3:32
upfront. So let's talk a little bit about
3:33
the trade-offs, right? And that was the response from
3:36
the awesome guys that novel. So, if you are at home, right,
3:41
you're not moving around, right? Getta.
3:46
Get a novel note, right? You could plug it in, right?
3:50
I always say during the ad is a digital Nomad, right?
3:53
If you're moving around and you're, you know, going from
3:55
hotel to hotel, to are be to Aaron B to A and B A and B,
4:00
ideally you'd still want to run your own Bitcoin node, right?
4:04
So it's better to better solution than, for example, if
4:08
you use your blue wallet, or you use another wallet, right?
4:13
And you connected to Random note, right?
4:16
Because every time you connect to a node, that's not yours what
4:19
you're doing is, you're doxing your transactions and your
4:22
doxxing the addresses that you're checking to check that
4:25
balance of, right? So ideally you always want to
4:28
run your own note, right? And also not to mention when you
4:31
run your own node, you get voting power because you get to
4:33
decide what Bitcoin software you want to run and what Bitcoin
4:36
software you don't want to run. So is it better than An actual
4:42
node at your home plugged in to your ethernet port.
4:47
No, it's not better. Is it better than trusting some
4:50
random node once you open up your blue wallet, of course,
4:54
it's better, right? Because at least it's your data
4:57
and I might be mistaken here but I think that not all guys also
5:01
told me that it's encrypted as well, right?
5:03
So again it's definitely some place in the middle and it's
5:08
useful. Specifically, which is what I
5:10
always say this. Useful, in my opinion for
5:12
digital Nomads. Also, for example, what if you
5:15
have a restaurant? What if you just want to receive
5:17
lightning payments, right? That's it's a really good
5:20
solution, right? So it's a good solution but it
5:24
definitely doesn't replace getting your own note.
5:26
So I hope that answers your question but they have it.
5:30
All right. If you want your own node you
5:32
could do that not Allure. If you know your digital Nomad,
5:35
you're on the go you're always traveling.
5:37
You could use the novel Cloud so they have both Solutions and
5:40
they're both. Be very useful, but good, good.
5:43
Noticing that. Anyways, the video that I want
5:46
to react to today Opti, I haven't got to play it but I do
5:50
trust. Crypto graffitis judgment Jack,
5:54
muntjac mahler's might drop. Exclamation of proof-of-work,
5:58
verse proof of stake. Remember, we played Jack Mahler
6:01
a clip of Jack mahler's yesterday.
6:03
This was the Bloomberg crypto thing that they were hosting,
6:07
and Matt Miller, I'm sure was asking him a question like, oh,
6:10
proof of work. So much energy.
6:12
What about proof of stake? Anyways, it's a 2 minute clip.
6:15
Let's see what he has to say. One of the things we talked
6:17
about on our crypto show a lot is proof of work versus proof of
6:20
stake. We have people come on like Joe
6:21
lube and who really defend the idea of proof of stake and
6:24
saying that it's going to be. He's got a lot more secure.
6:26
No, he doesn't. But what's your taking ethers
6:30
been Challenger? Is that the SEC?
6:33
No, it's not. Um, so first of all, using
6:36
energy is not bad thing. Matt like engineering and the
6:40
use of a Energy is implied in like the growth of humanity.
6:44
You know what else? Uses a lot of energy it
6:45
airplane. So tell you what?
6:47
You don't like on a Jeep. Next time.
6:49
You and the wife go to Europe. You take a kayak.
6:51
I'll fly United next time you want to save and grow your
6:55
family's. Well you use the dollar.
6:57
I'll use Bitcoin next time you wash your clothes.
7:00
You can scrape, your kids? Staying out of the white
7:03
T-shirt, I'll use a washing machine but what since when was
7:07
using energy a bad thing, I mean come on like it's absolutely a
7:11
Tonight in ridiculous. And even the carbon footprint, I
7:13
mean, it like incentive out, it's the best use of energy, you
7:16
know, like what an airplane can't do or your washing
7:18
machine. Like make use of excess energy
7:20
of a waterfall, so it helps stabilize the grid.
7:24
Like if you want an asset to have a commodity premium which
7:27
you know, this room knows what that is.
7:29
Creating Money Can't Be Free, guys, what are we talking about?
7:34
Like the fact that if a lot of people want to create Bitcoin,
7:37
it becomes more difficult, is why the thing works.
7:40
Your With Bitcoins not a liability.
7:43
Okay, your relationship with Bitcoin is not a proxy to some
7:46
Foundation, some team, some corporate structure some
7:49
development decision. In fact, the founder of Bitcoin
7:53
he she or they might be dad. Hmm.
7:58
And it's working really well, Matt.
8:01
That's what sailor means. When it's a property, there's no
8:04
liability relationship proof of stake.
8:07
Your relationship with that assets liability.
8:09
A stable coin, your relationship with.
8:10
That's a liability in He what you want is a monetary asset
8:13
where there are no liability relationships.
8:16
That's the whole point of the thing.
8:18
That's what, proof-of-work solved.
8:19
That Boom. Wow dude I think we've covered
8:24
this topic so many times but Jack mahler's just has a fucking
8:28
way with words, bro. Absolutely pointing out the
8:31
difference right between the two what we always say.
8:34
Right. Bitcoin successfully separated
8:37
human humans out of the equation proof of stake.
8:40
It's just a continuation of the old system anyways, Opti, what
8:45
do you think about Jack Ballers, being Jack Ballers Jack ballers?
8:51
Said it yesterday I'll say it again that kids got Swagger and
8:55
that's why he stays winning guys and also shuts out the Joe
8:58
Rogers in the chat. I spy Little, Joe Rogers,
9:01
comment on that thread. But back to the topic I like to
9:07
frame this as convince me that energy uses wrong and then we
9:12
can talk about this. Fundamentally convince me that
9:15
using energy is in a good thing and then we can talk about
9:19
whether Bitcoin Eating energy is wasteful or useful and if you
9:24
can't do that, then get out the kitchen because we all know what
9:28
time it is. Guys energy uses good.
9:30
The more energy Society uses the more prosperous that Society is.
9:34
So these people that want you to not use energy, they want to
9:38
take you back to the Stone Age. Has guys, they want to eliminate
9:41
you the carbon. They're trying to eliminate
9:43
because they don't want you flourishing.
9:47
Guys, remember what the wife tells you is?
9:49
This is their marketing. Not ours, you will own nothing
9:52
and be happy, that includes not using any energy usage that
9:57
includes, you know minimizing the technology stack that you
10:01
can use. These people were literally want
10:03
to take you back to the Stone Age, has and damn near
10:06
eliminate. A mass portion of the population
10:09
guys. This is what I suppose hold on.
10:13
The pole Donnelly supposedly supposedly said, hopefully I
10:16
made that clear supposedly oh God.
10:20
I apologize. I know you complete me out.
10:23
Whatever mentally Ballers says it perfectly, there's no
10:30
counterparty risk to proof-of-work.
10:32
Bitcoin proof of steak is just recreating the Fiat system on
10:35
the blockchain. It's asinine use more energy.
10:39
Energy uses good orange. Coined good.
10:42
Yellow Rock. Bad traditional banking bad.
10:44
Let's go. Oh man.
10:48
Now huh, Opti I love having Optimus fields on the So dude.
10:51
So yeah. Look it.
10:53
You could definitely say the global is the party of Davos
10:56
want the deplores. They want the peasants not
10:58
using, you know, more energy that they're entitled to when
11:02
they go on their private jets, right?
11:03
We know that for sure, the, the energy policy being pushed, you
11:08
know, by some institution, by some politicians have been very
11:11
harmful, but that part that you said about killing people.
11:15
I don't know about that. I don't know about that.
11:20
But I also in foil hat on, but I will say this, okay, I will say
11:24
this, a lot of things that were conspiracies, six or seven
11:29
months ago are turning out to be true, okay?
11:32
So that is my comment on that. But anyways, going back to this
11:36
proof-of-work thing that that Jack ma was just talking about.
11:40
Absolutely, there is a direct correlation with human
11:44
prosperity and energy use and it's disgusting that they've
11:47
convinced half or 40% of the population.
11:50
Asian that using energy is a bad thing, right?
11:54
So I think that the fight for Bitcoin mining, right?
11:58
Is really a fight about whether an individual can get to decide
12:04
what energy use is, okay? And what energy use is not okay.
12:08
And what another side says is, hey, the bureaucrats get to
12:11
decide that basically a form of central planning and it's had
12:16
catastrophic consequences look at the prices of energy in
12:19
California. Look at the prices of energy in
12:22
Germany, Germany. Even had to backtrack on some of
12:25
its policies because reality smack them in the face when
12:30
Russia invaded Ukraine. So, yeah, there's definitely
12:33
some truth to what Opti was saying.
12:35
Don't count it out, that's for sure, but anyways Opti it's time
12:38
for the Daily News brought to you by cryptic looks.com they
12:41
make some of the best Bitcoin merch like the 3D printed
12:44
Bitcoin. Grenade.
12:46
Toy comes in any custom color, your heart desires opens up.
12:49
I haven't done this in a while. Shit.
12:57
Fuck. Okay I've been after super glue
13:00
that 320. You broke it?
13:02
Yeah. I broke it 3-2?
13:03
What brought to you by crypto cloaks.com they make some of the
13:06
best 3D printed Bitcoin merch like the famous 3D printed
13:10
Bitcoin grenade toy comes in any custom color, your heart desires
13:14
you want to in Gold they make it in Gold.
13:16
Also opens up, you put your favorite Harbor while it in
13:19
there. It's awesome.
13:20
Aunt, good news guys, you can take advantage of the promo code
13:23
down below to get 5% off the store and in Europe the European
13:27
store is now open check out crypto cloaks.com today.
13:29
All right everybody check this out, big big news, the largest
13:34
bank in the Eurozone to launch Bitcoin, crypto custody
13:39
platform, the French Bank Pete BNP Paribas the leading Private
13:46
Bank in the Eurozone will become a custodial service provider for
13:49
Bitcoin and other Digital assets with over five hundred and six
13:53
billion of assets. Across the u.s.
13:55
Asia and Europe BNP, Paribas wealth management, leverages
13:59
6800 professionals across an international Network making
14:03
them the lead Private Bank under the Euro system.
14:06
The monetary authority of the Eurozone compassing 19 European,
14:10
union members, moreover BNP Security Services, the bank's
14:15
asset custodial service holds over thirteen trillion dollars
14:20
in assets under management. Holy cow, imagine just a small
14:26
percentage of that. Now, before you get your panties
14:29
in a bunch, all right. This does not help the
14:33
revolution, the revolution is people buying Bitcoin, mining
14:37
Bitcoin, earning Bitcoin and then taking it into self
14:40
custody. If everyone just used a bank, to
14:44
custody their Bitcoin, the problems that we have today
14:47
would not change the problems stem from the fact that you're
14:51
trusting, a government that could be captured by sorry.
14:54
A trusting a bank that could be captured by a government to
14:57
holds your money, right? That's a fundamental issue with
15:01
the World that's going on today if you live in the western world
15:05
and you're like, nah, that's not a problem.
15:07
My friend you have Financial privilege.
15:10
Okay. Most people about 60% of the
15:12
world, do not have the benefits that you have.
15:16
They put their their money in the bank and there's custodial
15:19
risk. But at the same time, this is
15:22
potentially bullish for the price.
15:24
I'm not going to lie, that's thirteen trillion dollars in
15:26
their assets is only 12 percent of that whole, you know pile.
15:32
Of money, that all that wealth, all that Capital went into
15:34
Bitcoin. That is a lot of goddamn money
15:37
going in. And remember the awesome part
15:38
about Bitcoin, that's there's only so much, you know, you
15:41
can't print more of it, right? So what happens when people are
15:43
buying more and nobody wants to sell the price tends to go up?
15:46
So it's bittersweet right. It's it's cool because it's a
15:51
lot of money and at the same time not so cool because this
15:55
doesn't help the revolution. This doesn't help Bitcoin
15:57
Revolution this doesn't help the plebs man.
15:59
What you want is more individuals.
16:02
Himself custody, but I definitely think this is some,
16:04
this is worthy of being called signal Opti.
16:06
What do you think? Well, I'm really glad that you
16:10
went that angle because when I tweeted this, I basically said,
16:14
middlemen, middle Manning and I besides the fact that they have
16:20
trillions of dollars under assets, our custody I'm like man
16:25
who really cares if a bank wants to custody your Bitcoin, the
16:28
real Revolution like you said is the plebs out there, putting
16:32
their Bitcoin in Cold Storage but I think this is a good Good
16:38
point to illustrate that guys. It really does feel like we have
16:43
crossed the Rubicon and Bitcoin is in the mainstream and there
16:46
is no going back. Bitcoins, incentives are winning
16:50
and everyone that wants Prophet anyone.
16:53
That sees where the road is going understands that they have
16:57
to get into Bitcoin some way. So, you know, middle men's are
17:01
going to do what they always do and try to middlemen when a
17:06
hammer is the only tool you have.
17:07
Have everything looks like a nail.
17:09
So as Nico said, take your Bitcoin off exchanges.
17:14
The revolution is self custody, and that is the way that is the
17:18
way up to us. The second best.
17:21
There is no second best. Anyways, fuck it.
17:25
Love the soundboard. Anyways, moving on to the next
17:28
Story. The climate foot.
17:30
Once again was wrong Bitcoin working exactly like design is
17:36
an article from Reuters for our Listeners Texas, Bitcoin.
17:39
Miners back online. After power surge caused
17:43
curtailments. Guys, pay attention to the
17:47
fucking framing, okay? The framing is what pisses me
17:49
off, Texas? Bitcoin?
17:50
Miners back online after power surge caused curtailment, that
17:54
is what was agreed upon, think about it.
17:56
This way, basic supply and demand, there's a lot of demand
17:59
from the grid, right? That means that the electricity
18:02
is very expensive, is very expensive, it's less profitable
18:05
to mine Bitcoin, it only makes sense if there's excess energy,
18:09
right? And for all you guys that love
18:12
renewable energy, right, renewable energies is not a
18:15
Table form of energy, right? There's ups and downs.
18:18
There's not son all the time, there's not wind all the time,
18:21
but if you're a grid operator you kind of have to provide
18:24
stability. So what Jack Mahler said in the
18:27
numbers video that we played for you guys Bitcoin miners, provide
18:31
grid stability and that is the reality anyways large-scale
18:36
Bitcoin mining operations in Texas are back online after
18:39
sweltering temperatures that cause electricity use to spike
18:42
led to power curtailments earlier this month an Regroup
18:45
said on Tuesday, all the major Bitcoin miners would choose
18:48
energy-intensive. Supercomputers to mine for
18:51
cryptocurrencies, had paused operations last week as
18:54
temperatures soared in the Lone Star.
18:56
State power demands hit an all-time highs as residents and
19:00
businesses turned up their air conditioners.
19:03
Wait a sec. I thought energy use was bad.
19:05
Can't use air conditioners you got to use fans.
19:07
You got to use hand fans The electricity reliability Council
19:12
of Texas. Which operates the grid for more
19:14
than 26 million customers and accounts for about 90 percent of
19:17
the state's power load. Did not immune.
19:19
I'm going to cut that out. Three, two, one the miners are
19:22
all back online. As a several days ago.
19:24
Seed said Lee, bratcher president of the Texas
19:27
blockchain council and is back to normal operating mode with
19:30
over 3,000 megawatts holy crap, one megawatt is already a big
19:35
want mine three that, holy crap, that is live.
19:38
Anyways Very good A little bit of noise but I'm going to
19:41
connect it with this part, right?
19:44
And have a question for Elon Musk at the end of this.
19:49
The Bitcoin mining Council a voluntary global forum of
19:52
Bitcoin mining companies and other companies in the Bitcoin
19:54
industry announced the findings of its second-quarter 2022,
19:58
survey focused on three metrics electricity consumption
20:01
technological, efficiency and sustainable power.
20:04
Mix, The BMC has now collected data from over 50 percent of the
20:08
global Network representing 107 EXA hashes as of June 30th 2022
20:14
and its latest voluntary. Survey sector the results of
20:18
this survey showed that the members of The BMC and
20:20
participants in the survey are currently utilizing electricity
20:24
with a sixty six point eight, sustainable power mix based on
20:29
this data, it is estimated that Global Bitcoin mining industry,
20:33
sustainable electricity mix is now 59 percent has increased
20:39
approximately Oxen only six percent year on year, making it
20:42
one of the most sustainable Industries globally.
20:45
Additionally, year on year. It is estimated that Global
20:47
Bitcoin networks technological, efficiency Group by 46% from
20:51
fourteen point, four x and hashes and Q2 twenty twenty one
20:56
to twenty 1.1 x. A hashes per gigawatt in Q2
21:00
2022, the efficiency gain reaffirms.
21:03
The fact that is the Bitcoin Network groped, continues to
21:05
grow, it will become more efficient over.
21:09
Time. That is a nail in the coffin, to
21:13
all the energy fun. All the attacks that we got from
21:18
those people that in my opinion, they're not really concerned
21:22
about Bitcoins energy uses they're concerned about power
21:26
and control. Well, that kind of debunks a lot
21:29
of their arguments. Not only does the Bitcoin
21:32
Network become more efficient over time.
21:34
The Bitcoin network is one of the most sustainable Industries
21:38
ever. Why doesn't why doesn't the why
21:41
isn't the banking sector hold to these high standards?
21:44
Why aren't hair dryers hold to these high standards?
21:46
Why are you guys picking on bitcoin that?
21:49
In fact provide stability to the grid what is going on here?
21:52
These are some hard questions that you guys will never answer
21:56
because your intentions are insincere Opti.
21:59
What are your thoughts? Man, I just got to give you some
22:03
horn for that one, but first off, on the Texas news, I think
22:09
I read somewhere and you guys could correct me.
22:11
But Texas has the highest renewable or highest percentage
22:16
of renewable energy in the state and they're still trying to
22:20
blame Bitcoin mining as the reason for their grid, not being
22:25
secure and safe. We know what the real reason is
22:29
guys. It's not because of Mine.
22:32
Anyways, the second point. I'm so glad we have these
22:35
numbers because for a while there I've been just kind of
22:38
saying a little bit through here say that Bitcoin is the greenest
22:42
industry period. It is the cleanest industry by
22:45
far and now we have the numbers guys because as you guys know
22:51
Bitcoin is a rounding error when it comes to energy, use its
22:55
miniscule. It's a tiny industry in regards
22:58
to how much energy is used in the A world that is polluting
23:02
planet Earth. And what do they do?
23:04
They blame it all on bitcoin. When it's just a tiny, tiny
23:08
little sliver of all the energy use because we know what they
23:12
know Bitcoin is the exit door and they have to block it as
23:16
much as possible. So they fought it so that the
23:19
average person doesn't escape the matrix.
23:22
So we know what time it is guys. We know what the narrative is
23:25
and that's why we're here to counter the Fudd.
23:28
Yeah, absolutely man. Hit the nail on the head.
23:30
One last Softy before we move on to your fail check this out.
23:36
It's a good question for Elon. Elon Musk said Tesla will resume
23:40
Bitcoin payments when mining is 50 percent sustainable the
23:43
Bitcoin mounting Council found that Bitcoin mining has eight
23:46
fifty nine percent sustainable energy.
23:48
Mix when resume Bitcoin payment Salon?
23:52
Yeah that's a really good question.
23:53
Ilan, that's a really good question.
23:54
He Lon. I don't know man.
23:57
You gotta answer it anyways. Opti it's time for the Daily.
24:01
We fail brought to you by Swan Swan is the best way to build
24:06
your Bitcoin stack with automated Bitcoin savings plans
24:10
and instant purchases serving clients of any size from ten
24:13
dollars to ten million dollars guys we love Swan.
24:17
The reason that we love Swan is because it fits with the Bitcoin
24:21
print, the simply Bitcoin principles man.
24:23
We don't believe in speculation Swan is it incentivize you to
24:29
use dollar cost average has And it also incentivizes you to take
24:34
self custody sign up today. Swan Bitcoin.com.
24:38
All right. What's up guys?
24:40
It's your boy Opti. I'm here to do the fail and as
24:43
you can see on the screen we got Gemini in the news, we got more
24:48
contagion fail for you guys because it's everywhere.
24:53
Guys. So as you can see, on the
24:54
screen, we got Gemini lays off more employees for the second
24:57
time in two months. So let's go over this on June
25:00
2nd. And we got the news that Gem and
25:02
I had laid off 10% of their Workforce as the shit coin
25:06
Revolution. Enters its contraction phase.
25:09
So again, Gemini cut approximately 10% of the
25:13
workforce and the Dual attributed, the layoffs to
25:16
turbulent market conditions that are likely to persist.
25:20
For some time, sounds very reasonable, very reasonable.
25:24
Well, two weeks later on July 18, Chicken exchange Gemini.
25:29
Execute second round of layoffs, less than two months after
25:34
cutting, 10% of its staff, guys. Even by normal standards by no
25:38
more shit coin bear Market standards to layoffs within
25:43
weeks of 10% or more, doesn't look good for the company and
25:48
not only does that not look good for the company around the same
25:52
time, the Winklevoss twins, take their cover band on the road.
25:58
Why they are cutting employees? So are they distracted?
26:01
Do they have other priorities? What is going on?
26:05
Well, shouts out to Yellow because they're trying to steal
26:08
your Vibes, bro. Look at this first sentence.
26:11
They are covering Don't Stop Believing.
26:13
This is our me more than they're just living in it.
26:15
Anyways, apparently not only are they on a cover man, not only is
26:22
Gemini struggling, but they have embarked on a 10 stop
26:26
cross-country to learn. And lie and launch a line of a
26:30
company and of teas for their band that is correct, guys.
26:35
They have an mft for their band much.
26:37
Wow, much Innovation anyways. This is where it gets really
26:42
really juicy guys. So we got tagged in this.
26:45
As you can see the simply Bitcoin tweet is retweeted by
26:49
Mitchell hard on. He goes if I had funds on Gemini
26:53
or Gemini earn, I would be shaking in my boots right now.
26:56
It's no wonder why. The Vic Winkle by have begun
26:59
going all-in on their little cover band.
27:02
So let's just look at these receipts.
27:05
Hmm Gemini earn program term schedule a approved ball
27:09
workers. Genesis Global Capital, do you
27:13
remember what's been going on in the news guys?
27:17
Genesis file is 1.2 billion dollar claim against three
27:19
hours. Capital Genesis let 2.4 billion
27:23
to hedge funds. Three arrows Capital.
27:26
Let's get out of the numbers. Did the Strand yesterday, guys?
27:30
And this is based off that thousand page.
27:32
Court document And as you can see, guys Genesis took the
27:38
biggest hit in regards to three hours Capital with that 2.3
27:42
Billy that they lent out. So what is going on over at
27:47
Gemini as we've been telling you for a few days?
27:50
I actually probably weeks. Now, if you follow the money,
27:54
you will understand what is going on in the Bitcoin Market,
27:58
you will understand why some quote unquote bitcoiners are
28:02
going full Bitcoin deranged syndrome.
28:05
And going on Twitter and just having these atrocious,
28:09
emotional breakdowns, against toxic Bitcoin maximalist,
28:12
because it's all our fault that these guys are over leveraged
28:15
High, rehypothecation your Bitcoin and doing extremely
28:19
risky stuff with your Bitcoin, because you're giving them your
28:23
keys again. Guys, you need to take your
28:25
Bitcoin off exchanges. This is the Revolution, and
28:30
personally, this isn't necessarily just a Gemini fail,
28:34
even They're failing guys. This is the tell you you need to
28:38
self custody your Bitcoin. I don't know how many data
28:41
points we have to tell you, but exchanges are not wallets.
28:45
Don't hold your Bitcoin on exchanges for long-term.
28:48
Don't leave more money on an exchange than you're willing to
28:51
lose. Guys.
28:51
Take your Bitcoin in the self custody and don't use Gemini
28:55
guys. This this is looking real bad
28:57
for them. We shall see what the total
29:01
total cost of this will be, but man, it's getting crazy out
29:04
there. I survived this bear Market,
29:06
it's getting bloody anyways, Niko, you got another extra take
29:09
on this dude. Look, if here's the reality,
29:14
right? Gemini's, the shit coin exchange
29:16
so it was coinbase but if any of those exchanges go down, it's a
29:20
very very bad. It's very bad news, the
29:25
confidence shocks that that would said throughout the
29:28
industry because you have to understand there's levels of
29:30
exchanges, right? There's There's, you know, the
29:35
sketchy live coin and, you know, the cool coin and all that,
29:39
really weird stuff. And then, you know, once you get
29:44
higher, right? There's like bit Max.
29:46
But once you get to the like, the top-tier, right?
29:50
Kraken, coinbase Gemini, once you get to that, right?
29:57
You have to understand that a lot of the institutional money,
30:00
it goes through that it goes through those exchanges because
30:02
they have all the bells and Missile Jammer has the
30:04
bitlicense in New York, right? So it would be very bad for the
30:09
price. Now, does this affect the
30:12
toddler, the Revolutionary, the peaceful revolutionary that we
30:15
advocate for, on the show? No, it doesn't because take
30:18
Bitcoin, you buy it and immediately you take it into
30:21
self custody, right? But look, here's another
30:24
example. You play by shit coins, you die
30:28
by shit coins, and you know, let's see what happens, but
30:32
definitely Opti I agree with you.
30:33
Those are Some very very troubling signs.
30:35
Anyways, what's it, what's the next fill?
30:37
My bro. Agreed, let's hope they are not
30:40
too big to fail, boys, and girls.
30:42
Anyways, I got some more fail here guys.
30:45
And this thread popped up on my radar yesterday, but it was
30:49
released on July 18th. And this has David Marcus.
30:53
If you guys are unfamiliar with David, Marcus, I have this over
30:57
here to explain to you. He was once at Facebook's
31:02
cryptocurrency company. Or meta.
31:04
I forget what the, what was the project called like zebra?
31:08
It was a big was Libra. Yeah, I think I think was
31:10
leaving. Anyways, you can look at the
31:12
date. November, 30 is 2021, David
31:14
Marcus had a Facebook parent company.
31:16
Metas, cryptocurrency efforts announced on Tuesday.
31:19
He will be leaving the company at the end of the year.
31:21
I didn't bring it up but I'm just reminded that the metal
31:23
project was completely shut down after just recently, I think it
31:27
was like two weeks ago, three weeks ago, maybe Bitcoin time
31:29
flies so fast. Don't hold me to the actual day
31:32
guide, but we know that the meta project.
31:33
Got shut down as well but that's not the fail.
31:36
The fail, is this tweet right here and it's just a beautiful
31:40
tweet because it's it's just such a shit coin perspective
31:45
that it's amazing. And we're going to clear it up
31:47
in the thread. So, David Marcus goes, I never
31:49
understood the schadenfreude between the etherium and the
31:52
Bitcoin communities. These two will end up being
31:55
complementary. One is a protocol for the
31:57
decentralized web and the other for the most secure and trusted
32:02
form of July's store of value and sediment.
32:06
Wow, sounds sound. So profound so profound and then
32:10
you see jaemin's does not go conflicting principles.
32:14
Make such classes inevitable and he goes this, this might be one
32:18
of my favorite commenters at the one under he goes, I get that
32:21
but we can let each other be and let the markets play out over
32:25
time. I don't believe there's any
32:26
value in a public fight especially at this still Nation
32:31
stage in the industry guys. Sword, sharpened sword, pleb
32:37
sharpens pleb can't take the heat, get out the kitchen.
32:40
David anyways, Jameson, Locke toes?
32:42
You're suggesting that it's silly for developing that work
32:45
states to Skirmish. I've made similar arguments in
32:48
the past, even trying to prevent Bitcoin Forks.
32:51
But unlike nation states, there are no leaders who can order
32:54
Forks to cease. Fire that leaves.
32:57
Don't like that one. And here we go, fair and I
33:00
understand the psychology and Dynamics at play here, but for
33:03
most folks outside of our world Krypto is one indistinguishable
33:08
things. So, infighting will set us all
33:10
back. And then Bitcoin, Tina goes
33:13
better. People shouldn't buy scams?
33:16
Yes, agreed guys. This is how the shit coiners
33:20
scam you out of your Bitcoin. And again, on the same thread,
33:25
we have Stephon lovera answering and we go into the same
33:30
thinking. So, Stefan de Burgos, if they
33:32
are complementary, then why are you people talking about
33:35
ultrasound money? Clearly, they recognize there's
33:38
competition on that aspect. Here signal and then we got g a
33:44
coma under here and he goes even better, why didn't they launched
33:47
a UT exobase for coin like be cash or even better a trustless
33:51
space chain that can never steal liquidity from Bitcoins,
33:54
monetary use or even better a to WP sidechain to pay for the
33:59
world computer gas. So Guys, these people can try to
34:04
angle themselves next to the Bitcoin maximalist and say that
34:08
we can all live in this Kumbaya world.
34:11
That it isn't winner-takes-all, we are in the game of monetary.
34:18
Expansion of monetary properties and the best money will win in
34:24
my opinion. But furthermore, here we go.
34:27
This is, I think where you can see how he gets this opinion and
34:33
where the fail comes from. As my mother always said, tell
34:38
me who your friends are and I'll tell you who you are.
34:41
So we got this tweet. This was May 12 going back in
34:45
time a little bit David. Marcus goes, I wanted Sure, that
34:48
we are starting a new company called lights Park to explore
34:51
build and extend the capabilities and utility of
34:55
Bitcoin as a first step. We're actively assembling a team
34:58
to Deep dive into the lightning Network.
35:02
Such a courageous and and nobleman to work in the
35:06
lightning Network for us. But as you can see here, we're
35:10
thrilled to be joined by like-minded investors notably a
35:14
16z crypto and paradigm. Guys, if I need to explain to
35:20
you, why, that is the fail and why you need to pay attention,
35:24
who your friends are. It's because a 16 funds, all the
35:29
crypto scammed all this shit coin scams.
35:31
If you look who's behind him, it is a 16 to z0 hence why David
35:36
Marcus will never understand why the etherium and Bitcoin
35:40
communities. We'll never be complementary.
35:45
Nico. You got some thoughts cause I
35:47
want to pull up a tweet before before we finish this bit, but I
35:52
don't have it linked up. So give him some wisdom and I'll
35:55
have that tweet for you, dude. Look, the shit coiners have to
36:02
play these mental gymnastics and their mind in order for it to
36:08
justify. You know, the reason And the way
36:13
that things operate in shit coins and kind of go back to
36:16
what Jack mahler's has to say, and you have to understand,
36:21
right? The fundamental difference of
36:25
Bitcoin and what makes Bitcoin unique right?
36:28
Bitcoin separated human beings from being able to meddle with
36:36
the monetary policy of Bitcoin So through proof-of-work Mining
36:42
and through the network of notes, right?
36:47
And the decentralization of that Network, All the shit coins are
36:55
fundamentally the same thing that has existed for decades and
37:02
decades and decades and decades. There's a an elite group.
37:07
Whether it's the developers of the shit coin, whether it's the
37:10
creators of the shit coin, whether it's the foundation of
37:13
the shit coin, and those developers get to play God, very
37:17
similar to Central Banking, it's very similar.
37:21
So, He is advocating what he's advocating for is more of the
37:28
same. What bitcoiners advocate for is
37:33
something that has never existed in Mankind's history, right?
37:37
A money that is completely separated and immune from Human
37:42
intervention. So no matter how much political
37:45
pressure mounts up, the Bitcoin Network ain't gonna bail you
37:49
out. No matter how much pressure
37:51
mounts up the Bitcoin At work isn't going to redistribute
37:55
funds. Oh that rich guy, let's take
37:58
away his money. You know.
38:00
So is that what that's what makes Bitcoin different and when
38:05
I see those types of conversations, that's what I
38:07
think. Anyways opted you find that
38:09
sweet brother Yes sir, I got it right here so shouts out the D,
38:15
Whitman, awesome Bitcoin account and I got two tweets from him
38:19
that perfectly lays this out blockchain technology.
38:23
Without proof of work is an inefficient database.
38:26
Web 3 is nothing but marketing and to add on that he goes
38:32
hashtag cryptocurrency marketing Grist i conf t.
38:36
Web 3 token Amex tokenized defies staking yields validators
38:40
Oracle Algorithmic stable coins e 2.0 and Community guys so I
38:46
brought all that up. Just to tell you whenever you
38:49
hear these buds words just know where they're coming from, it's
38:53
Bitcoin not shit. Coin, bit coin is the way
38:58
Bitcoin is the truth Bitcoin is and that's enough Bitcoin is and
39:03
that's enough. Beautiful beautiful.
39:05
Yeah a lot of signal today brother.
39:07
Good job man. But anyways it's time for the
39:10
day. Leave me.
39:11
I'm review brought to you by Citadel, 21.
39:13
It's the best Bitcoin cultural scene, it's stories, articles
39:16
Comics, by actual bitcoiners. This is the artwork for volume
39:20
10. This is the artwork for volume
39:22
11 and this is artwork for volume to volume through.
39:26
To is almost already a limited edition because it's almost sold
39:29
out. There's only 1000 physical
39:31
copies made per volume, so guys, get yourself some Club signal,
39:34
get yourself a citadel 21, physical print today right
39:38
everybody Welcome to the Daily, Bitcoin mean We review Bitcoin
39:43
memes and I know a lot of you guys are thinking Bitcoin memes,
39:46
they're not important what's going on.
39:49
Yes, they are poor important. Not only do they play an
39:52
essential role in Bitcoin culture.
39:54
They play a critical role in this narrative.
39:57
Trench warfare that we're fighting every single day on the
40:00
Battlegrounds of the internet against governments and central
40:02
banks. Anyways, first mean by friend of
40:05
the show he came on recently Solomon Ultra, I got more bars
40:08
than Estill, not Financial advice.
40:10
This is Just poetry that can save someone's ass number one,
40:15
Bitcoin advice. In this field scramble your eggs
40:17
never Scramble for yield. That's Alex machine, ski in the
40:21
bottom, dude. Shame on that guy, man.
40:24
That guy, dude. A man that video that you played
40:28
yesterday Opti where he's like those Bitcoin Maxis they want
40:31
you to take self custody, not talking.
40:33
Now, are you Alex? I hope that use that speak that
40:36
gets used in the lawsuits because damn that guy wreck
40:40
people. Ways?
40:42
I don't know how this made it in here.
40:43
God dammit how the climate will change in Europe in the coming
40:47
years? It's a video.
40:48
I'm not going to play the sound copyright reasons but only one
40:50
is check it out. Okay, Europe is turning
41:00
collectivist because of the crazy climate regulations.
41:04
That's freaking hilarious opt. He's dying of laughter.
41:08
He likes to make. He likes to see me uncomfortable
41:10
ta Bros. So basically Bitcoin just
41:13
reclaimed its 200 weeks, simple moving average, but it has to
41:17
hold us support or it's just likely failed rally with a lower
41:21
high. But if it doesn't matter if
41:26
those are the DEA, At those are the TA Bros in the and the
41:29
pledge, The Pledge baby. There were just like just dollar
41:32
cost averaging in the, the girls just like, you know, just leave
41:35
me alone. It's hilarious.
41:36
Love that template. Here is a BTC pins, you know,
41:39
the guy, the template guides like fuck Banks.
41:42
Love it. Alright, next one, count, I
41:45
muted. Who's this Lark Davis?
41:47
That's probably why you needed him and Satoshi.
41:50
Sakamoto, what's the next Max apply again?
41:53
Wait, so it's all worthless and it's the, you know, the the
41:56
astronaut In space with the gun, you know, behind him, says,
41:59
always has been Bitcoin. Absolutely epic.
42:02
Oh, shout out to one of our sponsors, Cipher, safe, awesome.
42:07
They just released. We finally got the design and
42:10
CNC program ready for the Bitcoin.
42:12
Rita looks triangle. The way, I like it.
42:15
Now on, on to making enough to bring to B Block.
42:18
Boom, let's take a look at them. It looks so fresh and so clean.
42:23
I'm gonna buy one because of how awesome it looks.
42:25
Anyways, moving on. Not gonna play the volume for
42:28
this copyright, but, anyways, European bitcoiners Central
42:32
Bankers thinking that nobody is noticing their fuck up.
42:35
Let's check it out. Bitcoiners so good.
42:48
Oh man. That is a great meme.
42:53
Holy crap dude. Oh man great great meme.
42:57
Okay. Wow.
42:58
That was that was one of the. That was one of the best means
43:01
I've seen in a while. Shout out to you brother.
43:03
We're gonna tag you in tomorrow's episode.
43:05
After remember to get send that guy's name to Opti.
43:08
Anyways, I'm going to give it a Phillips, Associates pain.
43:13
Yeah, that's what I'm going to give it anyways, Opti, where'd
43:15
you go? Are we not on the same by
43:19
because I'm giving it my pilot G20 pens guys.
43:24
If you know you know these are the best penned a our game, they
43:29
are at school, that's literally the pain that I would want all
43:32
the other pens are kind of shit coin Pence.
43:34
That that pain is the signal. Anyways guys, we want to know if
43:37
you agree with this crazy discreet, let us know down in
43:39
the comments section. Make sure to subscribe to us on
43:42
alternative video platforms because we do talk shit about
43:44
central banks like rumble.com or personal favorite, Bitcoin
43:48
tv.com. And Join our awesome telegram
43:52
group, it's over, 500 people in there, it's plebs having a great
43:55
old time, posting memes in the telegram so we can review them
44:00
on the review. So if you have a meme that you
44:02
want us to review posts in the telegram chat, and we'll try to
44:06
get to it. But anyways, Opti there was an
44:08
open source software released today, wanting to everybody
44:10
about it. Software release, brought to you
44:13
by Cipher safe guys, do not store your seed on paper papers
44:19
prone to Our damage Fire, Imagine you've stacked in that
44:23
Bitcoin for years and years and then that paper just gets
44:26
destroyed or perhaps it gets eaten by a pet.
44:29
That's why you have to put your seed on metal and there's no
44:32
better way to do that. Then the Cipher wheel and the
44:36
cipher grid it is fireproof waterproof pet proof and it
44:40
comes with tamper-resistant things.
44:42
It's also tamper-evident. Definitely want to put your seat
44:44
on metal. Don't be prone to paper sucking.
44:48
Yeah, Seifer safe. I owe this offer released the
44:51
open source software release. Today is the Mercury wallet
44:56
Mercury wallets roadmap to bitcoin skibbe scalability and
45:00
privacy. They plan to integrate the
45:04
lightning Network and blind. Its servers bullish, I love it,
45:08
when a Bitcoin wallet, implements lightning adds more
45:12
functionality, the Mercury wallet is another Bitcoin
45:14
wallet, right? The awesome part about Bitcoin
45:16
is that it's open source. Anybody could develop a Bitcoin
45:19
wallet It's really you're choosing some people like
45:22
electrons some people like Sparrow some people like, you
45:25
know, the coin based Chuckwalla it's really up to you.
45:28
It's really your preference. That is the power of Bitcoin.
45:31
It's up to you man. Open source is awesome.
45:34
Anyways guys, make sure to subscribe to her audio platforms
45:37
like anchor, like Spotify, like apple podcasts, or on all of
45:41
them. I also want to give a very
45:42
special shout-out to Simply Bitcoins blog.
45:45
Run by the most toxic plant on the internet.
45:48
Pirate Beach Bum. Check out.
45:50
Ew, dot simply Bitcoin, dot news, and of course, check out
45:54
our awesome clothing sponsor. Love the guys at represent, look
45:59
look at that orange pill that opt he's wearing, I'm wearing
46:02
the grenade, maybe it's related, maybe it's not, anyways stylish
46:08
it's comfy. This is really high quality
46:11
stuff. We wouldn't be wearing it.
46:12
If we didn't like it ourselves, I literally wear this these
46:16
sweaters to the airport all the time, you'll see me.
46:18
It's like you'll see him in a represent hoodie for sure.
46:20
You can take advantage of the promo code down below to get 10%
46:22
off. Anything off the represent
46:25
LTD.com store. Anyways, guys, that was our
46:28
show. If you enjoyed our show, you
46:30
know what to do. Samantha, of course you want to
46:33
continue hearing the Bitcoin. Use from the plebe pleb
46:36
perspective, the catastrophic fails of the governments and
46:39
central banks. The memes, the Bitcoin culture.
46:42
All of it, definitely consider subscribing to Simply Bitcoin
46:46
and we'll see you on the next one guys.
46:47
Bitcoin is winning the me more and this is uncontested.
46:51
Yes.