Latest / Simply Bitcoin / Federal Reserve Sues Last Remaining Bitcoin Friendly Bank | EP 1070

Transcript

Federal Reserve Sues Last Remaining Bitcoin Friendly Bank | EP 1070 · Simply Bitcoin

0:02
It's all going to zero against Bitcoin.
0:06
It's going up forever. You're against Bitcoin.
0:16
You're against freedom. For being here with me, it's a
0:25
huge honor to get the opportunity to talk with you.
0:28
I have immense admiration and respect for you.
0:32
In Venezuela, your party achieved a historic victory.
0:34
You were not only able to prove the committed by the government
0:38
of Nicolas Maduro, who brazenly selection, but you were also
0:42
able to prove your party's victory.
0:46
And you were able to use technology and transparency to
0:49
get this done. Yours was a people powered
0:52
election. People powered governance should
0:54
be the goal of every free nation, and what's also really
0:57
important is people powered money.
0:59
Over the last 24 years, the Chavez and Maduro regimes have
1:02
completely destroyed the Venezuelan Bolivar.
1:05
Despite enormous oil reserves and oil revenues.
1:09
The currency has been vaporized and people's purchasing power
1:13
and wages have been destroyed. The government has tried to
1:17
paper it over by deleting A0, adding zeros, changing the
1:20
currency, but the outcome is really stark.
1:24
Obviously, we have the hemispheric catastrophe and the
1:27
world's largest refugee crisis. Now some Venezuelans have
1:30
managed to escape this broken system through Bitcoin.
1:34
For some Venezuelans, Bitcoin has represented freedom money.
1:37
If it's used properly, it can't be censored or confiscated or
1:41
devalued by the regime. Can you tell us a little bit
1:45
about how the Chavistas have destroyed the Venezuelan economy
1:49
and currency and how they've politicized money and the
1:53
banking system in Venezuela? And can you also tell us a
1:57
little bit about Bitcoin and what you think this technology
2:02
might represent in that it can allow Venezuelans to be their
2:05
own bank and what kind of place this currency might have in a
2:09
future democratic Venezuela? Thank you, Alex, for these super
2:13
important questions and thanks to the Human Rights Foundation
2:16
for raising awareness about our struggle during these very
2:20
challenging times. The world knows of choice and
2:23
Maduro's human rights abuses, but less is known about their
2:28
violations of financial rights. A tragedy unfolding over the
2:32
last two decades. The Venezuelan believer, one
2:36
stable at 3:00 to 4:00 units per U.S. dollar, has lost 14 zeros
2:42
on their chalice and Maduro, turning a functional economy
2:46
into a catastrophic financial crisis.
2:50
In 2018, inflation reached an unimaginable 1.7 million
2:55
percent, with prices doubling every four days.
3:00
Since 2016, cumulative inflation has exceeded 8,000,000%, driving
3:06
millions of restaurants to to flee our country.
3:10
This financial repression, rooted in state sponsored
3:15
looting, theft and non check money printed, happened despite
3:19
our vast natural resources and despite an old price boom that
3:24
peaked at $147 per barrel in July 2008.
3:30
Beyond breaking the currency, the regime weaponized financial
3:34
systems against its people, freezing accounts, seizing
3:39
assets and cutting of services. Our campaign operates right now
3:44
without banking access, isolated yet resolute in our fighter for
3:49
change. Some Venezuelans found a
3:52
lifeline in Bitcoin during hyperinflation, using it to
3:56
protect your wealth and to finance their escape.
3:59
Today, Bitcoin bypasses government imposed exchange
4:03
rates and thus helps many of our people.
4:07
It has evolved from a humanitarian tool to a vital
4:11
means of resistance. We are grateful for Lifeline
4:15
Beacon provides and look forward to embracing it in a new
4:19
democratic Venezuela. We envision become as part of
4:23
our national reserves, helping rebuild what the dictatorships
4:27
told. Yeah, we're going to send to
4:30
Bitcoin Live your number one source for the peaceful Bitcoin
4:33
revolution, also known as the separation of money and state.
4:36
We cover the news, memes, mematic warfare and the culture,
4:40
everything. Guys, it's going to be a hell of
4:42
a show. I got to say, you know,
4:44
personally, I I immigrated from Venezuela a long time ago, but I
4:49
have a lot of families still there.
4:51
My, my, both my parents are from there.
4:53
My wife's parents are from there and you know, this, this recent
4:57
election that happened and, and I don't know how much I could
5:00
say on on YouTube, but let's just say the, the, the means of
5:04
which they conducted that election were highly
5:06
questionable. And here you have the leading
5:10
political political opposition saying that Bitcoin is the
5:16
currency of the resistance. Bitcoin gave them ability to
5:21
have the money to use the money without having to rely on the
5:25
traditional banking system, because then relying on the
5:28
traditional banking system meant that they the the money would be
5:32
seized, the money would be confiscated.
5:35
She also talked about how Venezuelans were using Bitcoin
5:37
as a lifeline in order to protect themselves from
5:41
hyperinflation due to reckless fiscal policy from the current
5:47
Venezuelan government. This is what we're talking
5:50
about. This is the separation of money
5:52
and state. This is the peaceful revolution.
5:54
And you know, I saw that clip and of course, it means a lot to
5:58
me personally. But I had recently on Wednesday,
6:02
I had an interview with the presidential candidate of the
6:06
country of Suriname, which is a country actually right next to
6:09
Venezuela. And she is talking about very
6:13
similar things in in the sense of how central banks and how
6:18
governments have used central banks to essentially hold their
6:22
countries not only hostage but also loot the population, steal
6:29
from the population. And people are not really aware
6:34
that it's happening because it's not a direct taxation.
6:38
The numbers stay the same, but the purchasing power of the
6:41
bills decrease. This is more obvious and
6:45
apparent to countries that don't have a stable Fiat currency,
6:49
where the legitimacy of of those local currencies is just, it's,
6:54
it's not apparent and people just don't believe it anymore.
6:57
Like the example of the 100 trillion Zimbabwe bill is a
7:00
great example of that. But even in the US, you know, we
7:05
are very privileged that we live in a country that the
7:09
currencies, the world reserve currency, meaning there's a lot
7:12
of central banks and a lot of people around the world that are
7:14
holding the dollar. And it gives the US government
7:17
this unique ability to just print a, a ridiculous amount of
7:21
money without, you know, a crazy hyperinflation like Venezuela
7:25
and Argentina. But there's still inflation
7:27
nonetheless. I mean, if you were to believe
7:30
the official numbers, I think it peaked at roughly 8.9%.
7:35
But they kept changing the CPI, They kept changing how they
7:38
calculated those numbers. And if you use the previous
7:43
mechanisms and how they calculated inflation, it was
7:47
really like 15 to 17%. And I think that's what people
7:50
feel. They constantly work harder and
7:53
harder and harder, and they still can't afford things.
7:56
They still can't purchase a home that the groceries are getting
8:00
insane. We played you a clip from legacy
8:02
media yesterday of basically this lady trying to convince you
8:05
that, you know, even though technology has gotten so much
8:08
better, even though productivity has increased through the roof,
8:12
even though generally life as a whole, because technological
8:16
increases is much better than it was 20 years ago, people are
8:20
somehow poorer. And the reason for that is
8:23
broken money. And what I hear from Alex
8:27
Gladstein, shout out to him, the Human Rights Foundation, the
8:30
amazing work that they're doing is now you see another country
8:35
in Latin America mentioning Bitcoin by name and mentioning
8:41
why Bitcoin is so important and mentioning how they're going to
8:45
use Bitcoin in order to propel their country towards a better
8:50
future. That's not an isolated in
8:54
incident anymore. You have communities in
8:57
Honduras, you have El Salvador, of course you have.
9:00
I just interviewed the Pres, the potential president of Suriname
9:03
on Wednesday. And now you have the opposition
9:06
leader in Venezuela talking about how they're going to use
9:10
Bitcoin in order to achieve a more prosperous Venezuela moving
9:14
into the future. Yeah, this is the peaceful
9:18
revolution. This is what it's all about.
9:19
This is the separation of money and state.
9:21
We must stop the state's ability to loot from its people via
9:26
currency debasement, via central banking, via Fiat.
9:30
And the way that you do that is by adopting Bitcoin.
9:34
And this isn't an election thing.
9:37
This is an individual thing. So each individual has to make
9:41
the choice, take the personal responsibility of opting out and
9:46
choosing to for the first time take self custody of their
9:49
wealth. And by doing so, you're
9:51
defunding the Fiat system and you're empowering yourself with
9:56
sovereign, undebatable, unconfiscatable money and which
10:01
allows you to transact with anyone around the world freely
10:04
without having to ask for permission, without any fear of
10:08
any type of censorship. This is what the peaceful
10:11
Bitcoin revolution is all about. It's accelerating.
10:14
I think we're starting to see it in the developing world more,
10:17
but soon it's going to come to the developed world as well
10:20
because the United States specifically is on an
10:23
unsustainable fiscal path. The amount of money that they
10:27
continue to print, the amount of money that they continue to
10:30
borrow. the US government spent $1.7 trillion last year than it
10:35
collected in tax revenues. How were they able to do that?
10:38
They rinted the difference. And there are consequences to
10:41
rinting the difference. That's why you can't afford
10:43
housing. That's why you can't afford
10:45
groceries. And as Bitcoiners remember, we
10:49
have the solution to this problem and it's our
10:52
responsibility to put it on our shoulders, take agency, take
10:56
action and convince the people to the left of you, to the right
11:00
of you, your neighbors, your friends and your family.
11:02
And I truly believe that in by doing so, you're going to bring
11:06
people together. In other news, the the federal,
11:10
the Federal Reserve quote UN quote Federal Reserve, the
11:12
central Bank of the United States continues its regulatory
11:17
onslaught on Bitcoin friendly banks.
11:21
Another bank was sued by the Fed and we're going to cover that
11:24
today. And this continues a trend that
11:27
has been happening for the last 2 1/2.
11:29
I would say three years. The so-called operation choke .2
11:33
point O. Could you imagine?
11:36
The incumbent is the one who is tasked on regulating something
11:42
that is potentially going to disrupt it because Bitcoin
11:46
doesn't end banking. Bitcoin is a threat to central
11:52
banking. Bitcoin was born because of the
11:55
excesses and the injustices that happened during the 2008
12:00
financial crisis, which completely took away the
12:04
opportunities of my generation, the millennial generation and
12:08
the zoomer generation. Bitcoin is the peaceful protest
12:12
to that. And I find it insane to me that
12:17
the institution that has the most to lose, that is about to
12:22
be disrupted is the one that is also tasked with policing banks
12:30
that are adopting something that potentially competes with this
12:34
institution. Like, it's insane.
12:36
I don't understand that. But there's a solution to this.
12:39
And the solution to this is the upcoming election in the United
12:43
States. It's going to have huge
12:46
implications whether people realize it or not.
12:50
You could pull an ostrich and put your head in the sand and
12:53
pretend it doesn't matter. But the reality is that this
12:56
upcoming election is going to be the first Bitcoin election.
13:00
And depending on the administration that gets voted
13:02
into power, it's going to determine what the regulatory
13:06
environment is going to be for Bitcoin for the next 4 years.
13:11
And that's something that's incredibly important to talk
13:13
about. It's something that's incredibly
13:14
important to highlight because as much as Bitcoiners are
13:18
anarchor capitalist and they say that they don't care about
13:20
politics, well, if you don't care about politics, politics
13:24
surely does care about you. And it is an inevitable.
13:27
It was inevitable that we were always to cross this bridge
13:31
because at the end of the day, what do we want?
13:35
We want the separation of money and state that is inherently
13:39
political, but is not in the political that we all think of
13:45
the voting politics, the Fiat politics, like I like to call
13:49
it. It is political in the sense of
13:53
you have to ask yourself as an individual, what system do you
13:57
choose to keep, continue using? Do you choose to?
14:01
Do you choose to use the Bitcoin system, an equal equitable
14:05
system where no one has the privilege of being able to
14:07
create more money for free that everyone else has to work for?
14:10
Or a system of special privileges, which is the system
14:14
of Fiat, where the government has a monopoly on the control of
14:18
money and the issuance of money and the censorship of money in
14:22
the politicization of money? So that's the task at hand.
14:28
That's what I have. That's what I lay out to you
14:30
guys. What future do you want your
14:32
children to be living in? Anyways?
14:34
It's going to be a great show. We also have an extremely
14:37
special announcement during the culture segment.
14:40
I got my Co host today. The monologue was a bit long,
14:43
bro. But like that, you know, that
14:47
interview with Alex Gladstein and the Venezuelan opposition
14:51
leader was, you know, it it, it meant a lot to me personally.
14:55
So anyways how you doing Opti? I am doing wonderful guys.
15:00
It is Friday. Bitcoin is running exactly as
15:04
designed. We got another day to talk about
15:07
Bitcoin and it's cheap sets. We there's cheap sets out there.
15:10
As much as we all want to get out of this 58K gang range,
15:16
cheap sets are good if you got some Fiat on the sidelines.
15:18
So again, I say it every day and I'm probably a broken record by
15:22
now, but once you switch your mental operating system to focus
15:29
on Bitcoin, the whole world changes and everything is great,
15:32
everything is good for Bitcoin. Still a lot of work to do.
15:35
Obviously, as we can tell from this opening, this cold open
15:39
here, the signal is spreading. And I think really what I was
15:42
while you were going through this monologue, I was kind of
15:45
recapping how do we frame this year?
15:48
You know, what would be the theme of this year 2024 for
15:51
Bitcoin? And I think it's laying that
15:53
foundation so that in 2025, there's a huge building block.
15:57
A lot of people are going to hear about Bitcoin.
15:59
Bitcoin has got its tentacles everywhere.
16:02
Bitcoin is starting to saturate the culture.
16:05
It's been on corporate press all pretty much all of this year.
16:09
We're obviously in the presidential conversation.
16:12
So I think Bitcoin has laid itself a really good foundation
16:16
for 2025 and moving forward. The movement that is the Bitcoin
16:20
network and the Bitcoiners themselves, I think is is
16:23
starting to solidify itself. And kind of touching on what you
16:27
were saying, I had this epiphany last night.
16:29
And I know a lot of Bitcoiners don't like to get political, but
16:33
I think the way that we actually effectuate change here is not
16:37
only building a parallel economy, it is by acquiring as
16:42
much political power as we can. And I think this is what we're
16:44
seeing as Bitcoiners by trying to get involved in politics this
16:47
year. This is how we protect
16:49
ourselves. Guys.
16:50
Like, love it or hate it, you need to achieve some political
16:52
power to protect yourself. And that's what I think we're
16:55
seeing. This is the very beginning of
16:56
it. And as we move on, as number
16:58
goes up, it's going to become super obvious to everyone in
17:01
hindsight that Bitcoin was the move.
17:04
So buckle up, boys and girls. I'm sure it's going to be the
17:08
defining conversation for the next couple of the years as
17:11
things get crazier and crazier and crazier.
17:13
But anyways, we we, we did, we did some really long intro here
17:16
today. But guys, I'm going to tease it
17:19
a little bit, but we're super excited for today's culture.
17:23
We've been working really hard on the back end for this.
17:25
And I think you guys are going to really enjoy what we're going
17:28
to do. It's the next week or two.
17:31
Just just teasing it, Nico. The things are going to be
17:33
changing here for the better for the better.
17:35
But let's get into the show. Let's get into the show.
17:37
We've we've gone way too long today.
17:39
Absolutely guys, before we jump into the show, I do want to give
17:42
a very special shout out to simply Bitcoins lead sponsor.
17:46
Of course we're talking about Bitcoin Well.
17:48
Bitcoin well is the best place to build your automatic self
17:50
custody Bitcoin stack. Buy real Bitcoin Enable your
17:54
independence with the fastest and safest way to buy Bitcoin in
17:56
Canada and the USA. To get started, all you got to
17:59
do is you put in your e-mail address.
18:01
The sign up process takes about two to five minutes and bada
18:05
Bing bada boom, you're ready to buy automatic self custody
18:08
Bitcoin. What does that mean?
18:10
That means every time you buy Bitcoin on Bitcoin, well, as
18:13
soon as the funds clear, it goes straight to yourself custody
18:16
Bitcoin wallet address it doesn't even allow you to leave
18:19
it on the platform. And this perfectly aligns with
18:21
the simply Bitcoin ethos of the separation of money and state.
18:25
Every time you buy Bitcoin on Bitcoin Well, you earn Bitcoin
18:28
well points. You could redeem those points.
18:31
You could use those points towards the Bitcoin wishing well
18:34
contest. We're going to do it for one for
18:36
you guys. Right now, we're going to toss a
18:37
coin into the wishing well for an opportunity to win up to
18:41
1,000,000 Satoshis. So get your lightning wallets
18:44
ready. First person to scan the QR code
18:47
has won 500 SAT's. If you use promo code simply BTC
18:52
simply BTC to sign up to Bitcoin well dot com today you get 3
18:57
tosses into the Bitcoin wishing well absolutely free for an
19:00
opportunity to win up to 1,000,000 satoshis.
19:04
So support self custody by default Bitcoin on ramps like
19:07
bitcoinwell.com. To get started, go to
19:10
bitcoinwell.com/simply BTC. All right, everybody, let's hit
19:14
the numbers, Bitcoin numbers. But usually when you buy a
19:22
hardware wallet, I want to tell you guys about our sponsor.
19:24
It comes with a piece of paper, and that piece of paper is meant
19:28
for you to write down your seed words.
19:30
So it's either labeled one through 12 or one through 24.
19:34
The thing is, paper is not meant to last generations.
19:38
It could be lost in a fire. It could be lost to water
19:41
damage. Your dog could literally eat
19:43
that piece of paper. That's not how you want to store
19:47
your generational wealth. You want a proof of work, Store
19:51
your seed, your seed words into a titanium seed phrase storage
19:57
kit. So what does that mean?
19:59
Means the stamped seed comes with a hammer, letter stamping
20:02
tools, and anvil. And it literally allows.
20:04
Tells you it gives you all the tools necessary for you to
20:07
literally stamp your seed at home into a piece of titanium,
20:13
letter by letter. It comes with everything you
20:16
need. And it's fireproof.
20:18
It's waterproof. Your dog's probably not going to
20:20
want to eat a piece of titanium. This is how you should properly
20:23
secure your generation of wealth.
20:25
Head over to stampse-ed.com today and use promo code simply
20:29
to get 15% off anything on the store.
20:32
At the time of recording, the Bitcoin price is $54,010.00 Sats
20:37
per dollar 1852 block height 860,171 blocks to having 189,829
20:48
having estimate March 23rd, 2028 Total Lightning Network capacity
20:53
4900 60.68 BTC capacity value 266 million Realized monetary
21:02
inflation continuing to take Fiat currencies to absolute
21:04
school 1.39%. The market capitalization of
21:08
Bitcoin 1.07 trillion and Bitcoin versus gold market cap
21:14
6.13%. In other news, the Ripple Co
21:20
founder and executive chairman Chris Larson.
21:22
This is the same institution, same people that funded the
21:27
Change the Code campaign, which was a social attack on Bitcoin,
21:31
trying to make the case that Bitcoin uses too much energy.
21:35
What they forget to mention is what type of energy is Bitcoin
21:39
using? Bitcoin uses excess energy and
21:42
the vast majority of energy that Bitcoin miners use is actually
21:46
coming from renewables. But that is not.
21:48
Those aren't convenient truths if you're trying to sell a
21:51
narrative that Bitcoin is going to boil the oceans.
21:55
But I find it poetic that the Co founder and the executive
21:59
chairman of Ripple is supporting Kamala Harris Now.
22:03
It doesn't surprise me either, because Ripple is a centralized
22:06
entity. Because it is a centralized
22:09
entity, it needs the protection of the state and the approval of
22:13
the state in order for it to continue to function.
22:17
Because it's not a decentralized protocol, You know, there is no
22:22
executive chairman of Bitcoin. There is, I mean, like you can
22:28
call Satoshi the founder, but he disappeared very early on in, in
22:33
very early into the early days of Bitcoin and he just left it
22:36
to its own devices. If we've never heard from
22:38
Satoshi again, some people, some people speculate that Satoshi's
22:42
passed away. So you could see the contrast
22:45
between certain cryptos and I would say cryptos and Bitcoin.
22:51
And that's inherently that's inherently because of crypto
22:54
centralization and bitcoins decentralization.
22:59
Anyways, we this is the first message that the founder and CEO
23:03
of Telegram has released since his arrest in in France.
23:08
And I'm going to see if I can get through all of it because it
23:10
is quite long. But he says Pavar Duov tweeted
23:14
out. Thanks everyone for your support
23:16
and love. Last month, I got interviewed by
23:18
police for four days after arriving in Paris.
23:21
I was told I may be personal responsible for other people's
23:24
illegal use of Telegram because the French authorities didn't
23:28
receive responses from Telegram. This was surprising for several
23:32
reasons. Telegram has an official
23:34
representative in the EU that accepts and replies to EU
23:37
requests. It's e-mail address has been
23:40
publicly available for anyone in the EU who googles Telegram.
23:43
EU address for law enforcement #2 The French authorities had
23:47
numerous ways to reach me to request assistance.
23:51
As a French citizen, I was a frequent guest at the French
23:54
consulate in Dubai a while ago. When asked, I personally helped
23:58
them establish a hotline when Telegram with Telegram to deal
24:01
with the threat of terrorism in France.
24:04
Three, if a country is unhappy with an Internet service, the
24:07
establishing practice is to start a legal action against the
24:10
service itself. Using laws from the pre
24:12
smartphone era to charge Aceo with crimes committed by third
24:16
parties on the platform he manages is a simplistic
24:19
approach. Building technology is hard
24:21
enough as it is. No, an innovator will ever build
24:25
new tools if they know they can be personally held responsible
24:29
for potential abuse of those tools.
24:31
It reminds me of the quote from the sovereign individual because
24:35
we have to remember what is happening here.
24:38
The information technologies are disintermediation,
24:41
disintermediating information, and they're also
24:44
disintermediating money. I'm going to read you a small
24:47
quote from the book. Quote.
24:49
Businesses that offer the software services that
24:51
facilitate the realization of autonomy by individuals will be
24:54
subject to infiltration, sabotage, and disruption.
24:58
And of course, you could say, what do you mean realization of
25:01
autonomy? What do you mean Telegram?
25:03
How is that helping me realize it is because you now are using
25:07
a platform that is not censored and moderated by the state.
25:13
And that's the fundamental issue.
25:15
Remember, governments were not ready for mass scale
25:19
peer-to-peer communications. And that's exactly what social
25:22
media is allowing. If you want to know why they're
25:24
going after X, if you want to know why they're going after
25:27
Telegram, if you want to know why they're going after Rumble,
25:30
that is why. Before, 20 years ago, there was
25:34
a handful of TV channels, there was a handful of publications,
25:40
and they acted as gatekeepers, gatekeepers of information.
25:45
But now, where anyone could buy a camera, buy a microphone and
25:50
build their own platform, it becomes incredibly difficult for
25:54
governments to control the narrative.
25:57
And it reminds me of Naim Buchele's piece that he wrote
26:00
for Bitcoin Magazine as a reaction to the world media
26:04
attacking El Salvador's Bitcoin law.
26:07
And one of the things that he said in that piece was that
26:10
their most important weapon is their control on the Truth and
26:15
Telegram. Because it wasn't playing along,
26:18
because it wasn't quote UN quote moderating content, which is
26:21
just another form of saying censorship.
26:24
They lock the guy up. If you want to know why Satoshi
26:28
disappeared, this is exactly why.
26:30
If Satoshi was still around today, he'd be in prison.
26:33
Why? Because they would say the same
26:35
thing. People are using your technology
26:39
to commit crime. But that's an absurdity.
26:43
That's an insane idea. Just because you invent a tool
26:48
doesn't mean you should be held responsible for what that tool
26:51
is used for. And the same type of thinking
26:54
has been applied to the Tornado Cash case, which set a precedent
27:00
that led to the arrest of the Samurai developers.
27:04
And we should all be worried about this.
27:06
Why? Because the precedent they're
27:09
trying to set is that somehow writing software is illegal.
27:17
If that piece of software is used by for illegal purposes,
27:25
how could you be held responsible for software that
27:29
you wrote that someone used in an illegal manner?
27:32
How could you be? How could you do that?
27:34
That's the precedent that they're trying to set.
27:36
But the reason they're trying to set this precedent is because
27:38
they're losing control. And that's what it fundamentally
27:41
boils down to. And This is why protocols are so
27:44
important, like like Noster, like Bitcoin.
27:49
Because there is no Co, there is no foundation, there is no door
27:54
to knock on. You can go after influential
27:58
members of the Bitcoin community.
28:00
You can do stuff like that, but Bitcoin doesn't stop.
28:05
The ideas of Bitcoin continue and that's the that's the issue
28:10
that they're having, right? Anyways, it goes on to say
28:15
establishing the right balance between privacy and security is
28:18
not easy. You have to reconcile privacy
28:20
laws with law enforcement requirements and local laws with
28:23
EU laws. You have to take into account
28:25
technological limitations. As a platform, you want your
28:28
processes to be consistent globally while also ensuring
28:31
that you're that you that they are not abusing countries with
28:34
weak rule of law. We've been committed to engaging
28:38
with regulators to find the right balance.
28:40
Yes, we stand by our principles. Our experience is shaped by our
28:44
mission to protect our users and authoritarian regimes.
28:48
But we've always been open to dialogue.
28:50
But here's the problem. The West seems like they're
28:54
going down the authoritarian regime path.
28:58
So what happens when there is no country?
29:00
I mean, El Salvador, shout out to Max and Stacey.
29:03
I saw Naeem Bukele meet with the CEO of Rumble.
29:06
So it looks like once again, El Salvador is becoming a bastion
29:09
for for freedom, Bitcoin, free speech and all that.
29:14
We have to hold the line. We have to speak up.
29:17
And This is why I'm bullish on protocols, and This is why
29:22
platforms are inherently vulnerable because there is
29:26
someone to go after, right? So anyways, that's my bid on
29:29
this. Just crazy, this freedom
29:32
movement that's happening around the world, how Bitcoin is coming
29:35
into play, how social media is coming into play.
29:40
And it also highlights how important it is for governments
29:44
to control information. I didn't know that that was the
29:49
role of government. I, I didn't know that the
29:52
government was in, in the role of, of, of, of dictating what
29:56
narrative is true and what narrative isn't true.
29:59
But you know, now it's obvious. But if you look back over the
30:04
last, you know, 20-30 years in American history, think about
30:09
all the wars that we've, we've gone into.
30:12
Think about what they told us to justify the war in Iraq.
30:19
And then once you come to that realization, then you're like,
30:23
oh, wow, that's why it's so important.
30:27
That's why this is so important. Because how are they going to
30:32
convince the people about unjust wars if they no longer have a
30:39
monopoly on information? They can't.
30:43
And that's why they arrested the Telegram CEO and that's why
30:46
they're going after Rumble, and that's why they're going after
30:49
Elon. But you know what?
30:51
You can't go after Bitcoin, can't go after Noster.
30:56
Decentralization is a bitch, ain't it?
30:58
That's my take on all this. I'm going to pass it on to Opti.
31:01
These are historic times, man. But I mean, it's baked into the
31:05
theme of the show, my friend. This is the separation of money
31:09
and state, bro. But we should, we should
31:11
sprinkle in some more words into that.
31:14
This is the separation of information and state, and we're
31:18
heading into the separation of money and state.
31:21
Anyways. What's your take, Opti?
31:23
Yeah, I think we've been covering this all year.
31:27
And I remember, Niko, when we first started covering a lot of
31:29
the free speech stuff, there was people that are in the chat
31:33
wondering why are we even covering this?
31:34
I thought this was a Bitcoin show.
31:36
Well, very clearly. We constantly remind everyone
31:40
that Bitcoin is literally code. Code is speech.
31:43
This is the First Amendment issue.
31:45
And as we always posture the question on here for you guys,
31:49
if you if the governments won't allow you to speak freely, what
31:54
makes you think they will allow you to transact freely?
31:58
And really, when you go back to just the basic meaning of what
32:01
Fiat means, it is by decree of the government.
32:05
We our money is basically government words.
32:07
It's government debt. It's it's literally government
32:10
IOU like it all. The whole world right now is
32:13
running on government words right now on the on the drew and
32:18
what's what did they say on the dollar?
32:19
I haven't, I haven't had a dollar in a in a minute though
32:21
the full faith and credit of the Federal Reserve.
32:25
What's that mean? You got to trust them.
32:26
And so of course, right now we are seeing that there is, I
32:30
would argue, a consciousness raising moment on humanity where
32:34
people are waking up to a lot of the lies that we've been spoon
32:37
fed for most of our lives. And they are, rightfully so,
32:41
getting angry and even to a further extent, probably
32:46
overshooting the target a lot right now.
32:48
I know on Twitter there's a lot of, for lack of better terms,
32:52
conspiracy theories right now and there's a conspiracy theory
32:54
about everyone. And once you go down the
32:56
conspiracy theory rabbit hole, you might get lost in some of
32:59
these avenues that I think might be misinformation rabbit holes
33:03
to kind of debunk the whole movement.
33:05
But what we're seeing right now and it all we we reference this
33:08
every time on the show about the naive boot Calais.
33:11
Don't drink the elites kool-aid. The the reason the powers that
33:15
be have been able to manufacture so much consent in the world is
33:19
because they do control the narratives, as has been exposed
33:23
this year. Very clearly, the corporate
33:25
press is just an extension of the federal government, or as we
33:29
would say sometimes the administrative state, and
33:32
they're not really journalists. And somehow Nico and I have
33:35
become better journalists than the people in on television.
33:39
It's incredible. It's.
33:41
Incredible. It's insane.
33:43
But I mean, like, bro, like, you know, it blows my mind.
33:48
Like, OK, 'cause like we, we, we, we have to say when we say
33:52
those statements, like we, we have to like give context,
33:54
right? Like, you know, if you take a
33:59
look at what has happened over the last five years, right?
34:03
Like you just use your common sense, like use your memory.
34:07
Like there's been a lot of things that we've been told.
34:11
I'm going to, I'm not going to get into the the, the more
34:14
divisive topics, but let's let's stick with something money
34:17
related. There's going to be no
34:20
inflation. It's the supply chains, it's the
34:23
war. Oh, there is inflation.
34:28
Oops, we got it wrong. Like they lied.
34:33
Like, I don't know, I don't know how to say that it was it was a
34:36
lie. If you you've been tuning into
34:38
simply Bitcoin, we told you like from the mean the beginning that
34:43
they started printing money. We told you from the there's
34:47
going to be record inflation. How is it that two people on
34:54
YouTube that we're not professional journalists, we're
34:56
we're learning, we're getting there, but two self-taught
35:00
Youtubers that somehow managed to turn a a hobby into a podcast
35:05
into a small media company. How is it that we are more
35:09
accurate than people that are professionally trained that went
35:14
to school for this on TV? Why is that that that that's
35:21
like, you want to know why independent media and Joe Rogan
35:27
are so popular? This is why because people don't
35:33
believe the legacy media anymore.
35:35
And it's not because of the format, it's because of what
35:40
they're saying. You believe them for a certain
35:44
extent, but after a while you start to look at them and you're
35:47
like, I don't kind of believe you.
35:49
And then if a guy who talks about DMT, you know, he
35:55
actively, you know. Psychedelic monkeys.
35:58
He actively like, you know, like just smokes weed with Elon Musk
36:04
on his podcast and he's getting 12 million views per episode.
36:10
And the on average and the best day that CNN has, they get about
36:16
1,000,000 views. Listeners, Joe Rogan is 12 Xing
36:21
their engagement and their viewership.
36:24
And the reason is simple in my eyes.
36:27
Joe Rogan's just telling the truth.
36:30
And they're not like that's what it comes down to.
36:34
And then you'd have to ask yourself, like, why is that?
36:37
Like, why are they so hell bent? Do you remember how hard they
36:40
went against Joe Rogan during the pandemic when he was having
36:45
on people that they were literally de platforming from
36:48
Twitter? Do you remember that?
36:50
Like they they literally said that he took horse dewormer,
36:53
right? So the point that I'm trying to
36:55
say is like, like, you know, the age of legacy media is slowly
37:01
coming to an end. And from my perspective, like
37:07
they put true journalism and journalists to shame.
37:12
Like they're not being ethical, they're not being sincere.
37:18
They're they're failing their viewers because they're not
37:22
telling them what is actually going on.
37:24
They're not telling them the truth, which is the whole point.
37:27
Like, I think it was like Thomas Jefferson, I forget it, but it's
37:30
like the Free Press is so necessary in order for, you
37:34
know, they love the word democracy in order for democracy
37:37
to function. But what we've come to realize
37:39
is that the so-called press is more in the business of
37:46
providing air cover for the government rather than holding
37:52
the government accountable. And, and it, and it falls down
37:56
to independent media on the Internet to essentially fill in
38:02
that role. But when we fill in that role,
38:05
we literally get attacked. It's insanity.
38:08
It's it's crazy. And then this leads you to
38:11
another question, which is the first question is what is money?
38:15
But the second question, I think is a more even more important
38:17
question, which you inevitably ask when you ask the question,
38:20
what is money? What is government?
38:24
And what is the role that government should have in
38:28
society? Because I think the role that
38:31
government has right now, I think that if people actually
38:35
knew what was going on, I think the vast majority of people
38:38
would not be OK with it. Anyways, we've been off, we've
38:42
been on a little bit long on this, so we're going to go
38:44
straight to the news. Lots to cover.
38:45
And we still got the culture segment.
38:47
Let's check it out. Here we go, the Daily News.
38:55
I want to give a shout out to our sponsor Foundation Devices.
38:58
It's self custody done right. They built a premium grade
39:02
hardware wallet called Passport right here in the US.
39:05
It's fully open source and verifiable.
39:08
It's the most intuitive Bitcoin wallet designed with the UX
39:11
reminiscent of a simple feature phone, so you will know how to
39:15
navigate it and use it the moment you pick it up.
39:17
Get your Bitcoin off exchanges and into your into your own
39:21
hands in just a few minutes. Experience the Peace of Mind
39:23
that comes with taking ownership of your own keys.
39:26
After a massive sellout during Bitcoin Miami 2023, the Passport
39:31
is back in stock at foundationdevices.com.
39:34
Bitcoin only open source, verifiable, completely air gap
39:38
security model, gorgeous design craft premium grade materials.
39:42
If you're thinking about getting your Bitcoin off exchanges, this
39:45
is the one for you. Check out the Passport link link
39:48
in the show notes below to learn more.
39:51
All right, ladies and gentlemen, scan the QR code on your screen
39:54
right now. Check the link in the video
39:56
description. It will take you directly to the
39:58
Foundation Devices website where you guys could get yourself a
40:01
Passport Bitcoin open source hardware wallet.
40:05
Remember, not your keys, not your cheese.
40:07
The revolution is self custody and you're going to need a
40:10
hardware wallet to do that. So we recommend Passport by
40:13
Foundation devices. Scan the QR code on your screen
40:16
to get started. Anyways, in other news, CZ who
40:21
got arrested and they did a whole press conference, you
40:23
know, talking about Binance and talking about all these things.
40:26
And, you know, as Bitcoiners, we, we don't like the all
40:28
coiners. And you know, we, we say that
40:30
the all coins are, you know, scams and they're centralized
40:33
and you know, the, the founders of those all coins have special
40:36
privileges and they dump on everybody.
40:38
And you know, we know, we, we know the deal, right?
40:42
But I come from the angle of if someone wants to buy Doge, let
40:51
them buy Doge. It's not my place to interfere.
40:55
I could make the case as to why Bitcoin is superior and Bitcoin
41:00
is better money. But if someone wants to take it
41:04
on their own initiative and wants to buy a crypto, so be it.
41:08
That's fine. It's a Bitcoin show.
41:10
We're going to focus on on Bitcoin.
41:12
That being said, you know we we have to find the pattern here,
41:18
OK? Back in 2008, no banker went to
41:22
jail. Better said no notable banker
41:26
went to jail for what happened in 2008.
41:29
What happened in 2008 was a crime.
41:32
Main St. bailed out Wall Street. Wall Street got richer.
41:39
Main Street got poorer. It was terrible.
41:45
And I still think we're facing the consequences of that today.
41:50
No one was held accountable. Why is it that the CEOs other
41:56
than SBF, that was like a complete, like, you know, that
41:59
was an actual scam, right? But why is it that the CEOs of
42:04
Binance, Bitmex, Arthur Hayes have all been arrested by the US
42:11
government? Why is it that the CE OS of
42:15
banks, when there's a money laundering scandal or when they
42:20
get caught manipulating markets, why is it that they get fines
42:26
but our industry goes to jail? And part of the plea deal that
42:31
they gave CD was that he was banned for life for managing the
42:36
exchange. So he got a good deal.
42:39
I think he's only going to serve like three or four months.
42:42
And Arthur Hayes, again, he got a good deal as well.
42:45
But, and I'm not trying to protect them or to come to their
42:48
defence, but what I'm trying to say is it's rules for thee, but
42:52
not for me. Because the traditional
42:55
financial industry, they don't get charged, They don't there's,
43:02
they don't get held accountable for any of this.
43:06
We do. Our industry is like it's laser
43:09
focused. And then you have to ask
43:11
yourself, like, why is that the case?
43:13
Well, I read you the passage from the sovereign individual.
43:16
Why is it that the executive, that an executive from Binance
43:21
is still held in a Nigerian prison and the Nigerian
43:27
government blamed Binance for the downfall of the Nigerian
43:31
currency, the naira? It's not Binance's fault.
43:34
Binance is just an off on ramp. An off ramp.
43:39
I believe that these cases are inherently political, just like
43:43
the arrest of the Tornado Cash developers, just like the arrest
43:47
of the Telegram arrestor, just like the arrest of Julian
43:50
Assange, just like the arrest of the samurai wallet developers,
43:55
like this is political. It's so blatant because they
44:01
play by a different set of rules then we play by.
44:05
That's not justice. That's literally the definition
44:07
of injustice. Anyways getting to today's news
44:11
which I find also like you know total injustice as well.
44:17
Fed hits Texas bank with cease and desist or over servicing
44:23
crypto firms the United States Federal Reserve has issued a
44:28
cease and desist order to the crypto friendly United Texas
44:31
Bank citing quote significant deficiencies.
44:40
When was the last time the Ed was the Fed was audited?
44:45
Do we know like what? What about inflation?
44:51
Like the whole reason as to why the central bank was established
44:57
in the United States as the American public was sold on the
44:59
idea that the Federal Reserve was going to keep inflation
45:05
under control and keep unemployment under control, that
45:09
was what we were sold. The two largest depressions and
45:15
recessions in American history have happened under the Federal
45:19
Reserve. The Federal Reserve was
45:21
established in 1913. World War One happened a couple
45:25
years later, the Great Depression happened a couple
45:28
years later, and the Great Recession happened in 2008.
45:32
Not to mention all the other, you know, little recessions in
45:34
in between, and not to mention the multiple world wars.
45:39
So forgive me if I don't believe the Fed when they quote
45:47
significant deficiencies. This is the same Federal Reserve
45:51
that denied Caitlin Long's federal banking charter, which
45:56
would make her bank, Custodia Bank, competitive with the other
46:00
banks, even though Custodia Bank is a fully reserved bank right
46:10
now. Most banks, it used to be 10%,
46:13
now it's 0%. Why is it that a fully reserved
46:18
bank was denied a federal banking charter and why is it
46:22
that the 0 reserve banks are allowed to operate?
46:28
I'm pretty sure it's the same reason as to why no banker went
46:31
to jail for what happened in 2008.
46:35
It this feels like a cabal. It feels like a cartel that
46:39
honestly, from my perspective as a millennial, I'm looking at
46:43
this and I'm like, you guys aren't playing fair.
46:48
That's what it looks like to me. But I'll let you guys be the
46:50
judge. I'm not trying to come to
46:51
conclusions here. In a September 4th cease and
46:55
desist order, the Fed said it has examined United Texas Bank
46:59
in May and found issues with its corporate governance structure
47:03
and oversights by the bank's board of directors and senior
47:07
management. The examination identified
47:10
significant deficiencies related to foreign correspondent banking
47:13
and virtual currency customers, specifically risk management and
47:18
compliance with applicable rules and regulations relating to anti
47:22
money laundering, including the Bank Secrecy Act.
47:26
OK, you'd say Nico, this is crazy.
47:29
Like what are you talking about? Dude?
47:30
Maybe Nico stop. Like they, they probably, you
47:34
know, they probably weren't, you know, checking all the right
47:38
boxes and doing all the regulatory compliance that they
47:41
needed to do. OK, Like what are you talking
47:43
about? The problem is that this isn't
47:47
an isolated incident. A couple weeks ago, another
47:52
Bitcoin friendly bank, customers bank, in fact, it's the bank
47:56
that Gemini uses was also slapped with a lawsuit.
48:02
It was sued as well. And it starts to look like a
48:06
pattern, doesn't it? Like the Bitcoin friendly banks
48:11
are denied federal banking charters, there's sued, there's
48:16
regulation. Like it's almost as if like
48:20
there's a connection there and you'd be like, OK, I'm Nico.
48:23
Maybe maybe you're, you're seeing things that are not
48:26
there. I'll read you Tyler Winklevoss's
48:30
take on this. Today, the Fed confirmed that
48:34
Operation Choke .2 point O remains in full swing, provided
48:38
valuable insight into how it works and and verified that the
48:43
the Harris crypto reset is a scam.
48:47
The the Fed revealed all of this in a 13 page enforcement action
48:51
it issued this morning against crypto friendly bank Customers
48:55
Bank. The punch line of this
48:57
enforcement action is that customers bank must now give the
49:00
Fed 30 days of advance notice prior to entering into any new
49:06
banking relationship with a crypto company.
49:10
Of course, the only way you can understand this is by connecting
49:14
the third paragraph on page one which says whereas Bancorp has
49:18
pursued a business strategy that involves offering banking
49:21
services to digital assets with page 9 effective immediately,
49:27
the Organization shall provide the Reserve Bank with written 30
49:31
days written notice 30 days prior to engaging in any new
49:36
strategic initiative product, service or relationship with
49:40
third parties related to the digital asset strategy.
49:44
Given that Customers Bank is one of the only few crypto friendly
49:48
banks remaining in America today, this means that the Fed
49:51
is now a direct gatekeeper standing between crypto
49:56
companies and their ability to get a new bank account.
49:59
This is not how principals based regulation is supposed to work.
50:03
The decision whether to bank a company should be decentralized
50:07
across the entire banking industry and made by each bank
50:11
at its own discretion. Now this decision has been
50:15
centralized by the Fed and will be made by the Fed at its sole
50:19
discretion. The choke point has been
50:21
created. What exactly did customers bank
50:24
do to earn this regulatory straitjacket and be forced to
50:27
advocate its own business judgement and decisions making
50:31
to the Fed with respect to banking crypto companies?
50:34
That part is entirely unclear. The non allegation allegations
50:38
are so hand WAVY and vague they would make France cougha blush.
50:43
I don't know who that is, but if you get the reference, you get
50:45
the reference. So this happened and it seems
50:50
like the trend is continuing with this latest news dropping
50:56
yesterday that hits another bank, specifically a bank in
51:00
Texas with a cease and desist order relating to
51:05
cryptocurrencies, Bitcoin and digital assets.
51:08
So like, you know, it it do we elect who the Fed officials are?
51:23
No, they're appointed. So there's no a democratic
51:28
accountability. What is this but not
51:33
authoritarianism? What is this?
51:35
But not a cartel? It like it's almost as if the
51:41
incumbent player is setting up arbitrary rules not to allow a
51:50
new system to come in and potentially change things up.
51:57
That's what it looks like to me now.
52:00
We talked a lot about all these issues, right?
52:04
The way that we fix this specifically in the United
52:07
States is just the same way that we fixed this in Surinam, and
52:13
it's just the same way that we fixed this in Venezuela.
52:16
In the case of Surinam, we have to get Maya Peribo elected.
52:22
If you're in Surinam, that's very important.
52:24
In Venezuela, it's going to be a little bit more difficult
52:27
because, you know, the existing regime just doesn't want to give
52:30
up power to get the opposition party in power.
52:34
And the United States, it's something very similar because
52:38
at the end of the day, all of this is happening under the
52:43
current administration and the administration that's up and
52:49
coming. Oh, they've signalled that
52:51
they've been somewhat friendly towards the industry and they
52:55
want to take donations and whatever, but there's no direct
52:57
confirmations. I'm at the point, and this isn't
53:01
a red or blue or liberal versus conservative thing.
53:04
I'm at the point where I'm saying show me the receipts,
53:09
show me action. I see the articles, I see crypto
53:13
for Harris. I see all these little signs
53:16
that you're going to change the policies of the existing Biden
53:21
administration, but I'm not seeing any action and I'll show
53:26
you guys. So let's take a look at the
53:30
Democratic Party platform and let's control F this, shall we?
53:38
Let's look up cryptocurrency. Crypto, I spelled that wrong,
53:48
doesn't come up. Let's look up digital assets,
53:55
doesn't come up. Maybe let's look up Bitcoin,
54:00
doesn't come up. This thing is 92 pages just to
54:06
kind of give you guys an idea. This is the RNC platform.
54:11
Let's do the same thing. Crypto.
54:16
Oh look, they have an entire segment dedicated to crypto and
54:23
Bitcoin. Look at that.
54:26
Republicans will end Democrats unlawful and UN American crypto
54:30
crackdown and oppose the creation of a central bank
54:34
digital currency. We will defend the right to mine
54:37
Bitcoin and ensure every American has the right to self
54:40
custody of their digital assets and transact free from
54:44
government surveillance and control.
54:48
It's pretty black and white, bro.
54:50
Like, I don't know how else to say this.
54:53
And here's one of the latest, you know, latest clips retweeted
54:58
by Michael Saylor. And this is one of the latest
55:02
speeches from a presidential candidate, Donald Trump.
55:05
Let's check it out. And instead of attacking
55:07
industries of the future, we will embrace them, including
55:10
making America the world capital for crypto and Bitcoin.
55:19
I mean, guys, I can't like can't, I can't put it any other
55:25
way. I can't, I can't put it any way.
55:27
I can't tell you any other way. This attack on Bitcoin friendly
55:32
banks continues. The attack on the industry
55:35
continues. There's no mention of any of
55:37
this in any of their platforms. There's a clear mention by the
55:41
opposing party. Does this mean Republicans are
55:43
perfect? No.
55:44
Does this mean that Trump is great?
55:46
No. But as a single issue voter that
55:50
wholeheartedly believes that a lot of the world's problems are
55:54
caused by broken money, I'm going to support the candidates
55:59
worldwide and I'm going to platform them and I'm going to
56:03
give them a voice that support our industry, period.
56:09
It's not as simple as that. One last thing before I put put
56:12
it to Opti. Bitcoin before party.
56:16
Bitcoin before party. Bitcoin before party.
56:22
Fix the money, fix the world. That's my take anyways.
56:26
Opti, what's your take on all this, brother?
56:28
Because it's quite interesting, man.
56:31
This this regulatory onslaught continues.
56:35
Yeah, we've been covering this for a while and I think the
56:38
first time that we started covering this, I, I forget when
56:41
it was, I believe it was probably the end of last year or
56:44
something like that. There was that big noise that
56:49
was made on Twitter about choke .2 point O and how it's
56:52
happening. And then there was like the
56:53
opposing view from other people in the industry that were
56:57
saying, oh, it's not actually happening.
56:59
And then I think now towards the end of this year, we can all
57:02
pretty much agree that there has been an active attack on Bitcoin
57:06
or the crypto industry at large. And it's very clear, we, we've
57:10
seen a lot of examples throughout this year that
57:12
there's been an attack on Bitcoin and the whole industry
57:15
at large. Whether it's Caitlyn Long's
57:17
custodia bank getting denied, whether it is the Fed basically
57:22
attacking the the last remaining Bitcoin adjacent banks, whether
57:27
it was putting the Samurai wallet devs in jail, whether it
57:30
was putting the Tornado Cash guys in jail.
57:32
We've seen this play out in in real time on this show.
57:36
We've been watching this play out in real time on simply
57:39
Bitcoin, all of the various attacks.
57:42
And the opposing side is like, trust us bro, things are going
57:46
to change. And as Bitcoiners basically like
57:49
I don't want to trust you. And as much as Trump may not be
57:54
perfect, the fact that he is saying the right lip service to
57:58
us, I think again, and I'm a broken record when I say this
58:01
it, it's, it's just more signal and it's more signs to me that
58:07
Bitcoin as a movement is growing.
58:09
And even though Bitcoin and Bitcoiners in general are
58:12
probably a, a significant portion of the population, our
58:16
industry is still very tiny in comparison.
58:19
But the growing political capital that is coming out of
58:22
the Bitcoin and adjacent shit coin space is starting to grow.
58:25
And I think everyone is starting to realize this, even Bitcoiners
58:28
themselves. You can see that infighting
58:30
within Bitcoiners of one side like don't care about politics.
58:33
The other side of we need to get involved.
58:35
And I think this is just signs of the maturity of Bitcoin in
58:39
general. And so you just love to see it.
58:41
And I, I actually, I, I kind of want to go back to what we were
58:44
saying in the numbers with the Ripple CEO endorsing Kamala.
58:49
I was basically going to say, and I, I completely blinked on
58:52
this part, but it's no surprise that the Ripple CEO is embracing
58:56
Kamala when she's basically running on an anti BTC pro CBDC
59:01
standard here. And Ripple for her lack of
59:06
better terms, had for a long time played that role of we're
59:10
going to be the, the CBDC. You know what, what, what did
59:13
they used to say? The bank interbank coin or
59:16
whatever they were calling it. And so I'm not surprised, like
59:19
Nika said, the CEO of Ripple has been anti anti Bitcoin for a
59:24
long time, paying for a lot of Bitcoin fudge.
59:27
So I'm not surprised by this, though obviously on the surface,
59:32
hearing Trump continue to double down on this Bitcoin capital of
59:36
the world, I would love to see this.
59:37
I am an American. I think America shouldn't brace
59:40
Bitcoin. I think Bitcoin is as American
59:42
as apple pie. Bitcoin is freedom money.
59:45
America was built on the principles of freedom.
59:47
And I think that if more people on an individual level start
59:51
holding Bitcoin, then that consciousness will start rising
59:55
and people will ask themselves, what is the role of the
59:57
government? Why are they stealing all of my
59:59
wealth? Why do we need to use any money
1:00:01
that is designed to steal from us?
1:00:03
Though with that being said, I think the caveat to all this,
1:00:07
and I kind of touched on it when we played that Howard Lutnick
1:00:10
video, did this sometime this week.
1:00:12
I think it was Wednesday, and I mentioned it yesterday.
1:00:15
And then we got a little more details about it.
1:00:17
And what I'm talking about is we got this, this, we got a little
1:00:21
more clarity on this. Trump world finance or world
1:00:25
liberty finance? D5 platform that came out and lo
1:00:30
and behold, to no one's surprise, shout out to Mark
1:00:34
Goodwin and Whitney Webb because their whole platform is they're
1:00:37
they're running on this D5 lending thing and they're
1:00:41
pushing stable coins here and they're talking about
1:00:43
dollarizing the world and getting access to the whole
1:00:46
world. And no one's surprised that has
1:00:48
been listening to Whitney Webb and Mark Goodwin on this idea of
1:00:53
why stable coins are being pushed.
1:00:54
Why they're being a part of the regulation is because they don't
1:00:58
have to go through the standard loopholes and regulatory hurdles
1:01:02
to dollarize other parts of the world, hence why we're seeing
1:01:05
this push. And so I'm not surprised that
1:01:08
this Trump world finance liberty platform is pushing stable coins
1:01:13
because it is going to proliferate the dollar around
1:01:17
the world. And that's not what I'm here
1:01:18
for. I want more people holding
1:01:19
Bitcoin. But again, I think This is why
1:01:22
you're hearing him say the Bitcoin and crypto capital of
1:01:25
the world. It's not for the alt coins or
1:01:27
the shit coins out there. It's to push stable coins.
1:01:30
And everyone in the chat is basically saying, oh, it looks
1:01:33
like we're in the then they fight you stage.
1:01:35
We've been in the then they fight you stage for a long time
1:01:38
and I've said it on this show multiple times that right now it
1:01:42
is not politically feasible for them to attack Bitcoin directly,
1:01:46
hence why we're seeing this choke .2 point O strategy play
1:01:49
out. But I think the next attack that
1:01:51
we are going to see and we're seeing it play out in real time
1:01:54
again, shout out to Mark Goodwin and Whitney Webb for covering
1:01:58
this constantly is the next attack is going to be and it's
1:02:02
playing out again. This is happening in real time
1:02:04
guys. The next attack is we like you,
1:02:07
how do we Co-op this? And I think that's where we need
1:02:10
to keep our head on at this point.
1:02:12
But again, the fact that the Republican platform is running
1:02:16
on a, we will embrace self custody, we will embrace the
1:02:20
Bitcoin industry. I think this is really good for
1:02:23
the industry. Of course, I would much rather
1:02:25
have 4-4 years of cover so that Bitcoin can get completely out
1:02:29
of the race. I already think it's a little
1:02:30
too late to stop Bitcoin, but four years of cover for
1:02:35
embracing Bitcoin would be beneficial for us as individuals
1:02:39
and four years of them actively fighting us and doubling down on
1:02:42
fighting us, that would just decimate the Bitcoin industry.
1:02:45
And as an American that doesn't want to leave America and is
1:02:48
running a Bitcoin industry, I think the choice is pretty easy
1:02:52
on this front. But I think as with all that
1:02:55
being said, as I was saying, we it's very important for us to
1:02:57
keep our head on a swivel right now and ensure that more people
1:03:01
on a grassroots level are holding Bitcoin.
1:03:03
Because if enough people are holding Bitcoin, it, it becomes
1:03:07
completely politically unviable for them to attack the Bitcoin
1:03:10
industry, especially as the price starts going up and more
1:03:14
people have their wealth in Bitcoin.
1:03:15
They can try to do whatever, whatever emergency act or
1:03:20
whatever they want to do to try to stop Bitcoin and blame us for
1:03:24
their failures in the Fiat system.
1:03:26
But if enough people hold Bitcoin, then all of that is
1:03:29
moot. If enough people are taking
1:03:30
Bitcoin into custody, then they can attack us as an industry.
1:03:34
And this is what we try to emphasize on this show is you
1:03:38
need to be holding Bitcoin. You need to protect yourself and
1:03:41
no one out there in the political class is going to
1:03:43
actually save you. There is no political solution
1:03:46
to this unless Bitcoin gains enough political capital to
1:03:50
completely overwrite the system. And this is where we're at.
1:03:53
This is the moment we are right now in the movie Bitcoin is
1:03:56
winning. Hence why we're seeing all these
1:03:58
attacks on Bitcoin, hence why we're seeing all this FUD in
1:04:00
regards to Bitcoin is because they can't actively embrace
1:04:04
Bitcoin because then the sham is up, then the jig is up and it
1:04:07
exposes the whole Fiat system. And so of course they're going
1:04:11
to be like, OK, let's, let's mature this Bitcoin industry,
1:04:14
but let's do it within the system because the, the people
1:04:18
in the, the adults are here and we know how to handle this.
1:04:21
And two guys on YouTube and everyone else in hoodies out
1:04:25
there, like, no, bro, just it's Bitcoin, it's Bitcoin only.
1:04:29
This is how we fix everything, fix the money, fix the world.
1:04:32
It's all about the money. It will always be about the
1:04:35
money. You follow the money and you see
1:04:36
where the incentives are and the, the consciousness is
1:04:40
raising on this and people are seeing through the lies.
1:04:42
So I am definitely hopeful, even though at times I get a little
1:04:45
black pilled. Sometimes I think the orange
1:04:48
pill of hope and prosperity on the Bitcoin standard is the real
1:04:52
message. Amen.
1:04:53
Beautiful. Last thing, Niko optimism is the
1:04:56
way guys, we are going to win and we win in the end, but the
1:05:00
journey to that point will be filled with little small
1:05:04
skirmages. I was going to say the B word,
1:05:06
but again, I don't I'm I'm still I'm still on PTSD from from.
1:05:11
He ain't he ain't called optimist fields for no reason.
1:05:14
Lot lots of optimism this Friday.
1:05:16
Beautiful, beautiful message. Completely agree with you, Opti.
1:05:20
We need more individuals taking self custody.
1:05:22
This is how we win. This is how we effectuate
1:05:25
change. All right everybody, let's move
1:05:27
on to the culture. We have lots to talk about and
1:05:31
something interesting for you guys.
1:05:33
Let's check it out. The daily culture hard
1:05:43
everybody. I want to tell you guys about
1:05:44
the orange pull up. Stack friends who stack sats.
1:05:47
The orange pull up is the Bitcoin social layer.
1:05:49
If you're on the go, you move to a new city.
1:05:51
Or perhaps you've lived in your city for a long time and you
1:05:56
just don't know anyone around you.
1:05:58
The Orange pull app is for you. You pull it up.
1:06:00
It will literally show you geographically the Bitcoiners
1:06:03
that are near you and it will allow you to send them a message
1:06:06
directly. So you could build up that
1:06:08
Bitcoin friend list, that Bitcoiner Rolodex.
1:06:11
Also, it's the number one resource for Bitcoin only
1:06:14
events. So if you're traveling to a city
1:06:16
for a conference and the conference is only two days, but
1:06:18
perhaps you're there for a week, what are you going to do all the
1:06:21
on? What are you going to do all
1:06:22
those other days? Well, that's what the Orange
1:06:25
Pull app is for. It will literally show you the
1:06:27
Bitcoin events that are happening near you so you can go
1:06:30
with them and you connect with fellow Bitcoiners.
1:06:32
It's also one of the best ways to reach me directly.
1:06:35
You don't really answer Twitter DMS these days or random emails.
1:06:38
So if you want to reach me, download the Orange Pull app,
1:06:41
send me a message, and every week or so, I make sure to go
1:06:44
through every single one of the messages and get back to each
1:06:47
and every single one of you guys.
1:06:48
So download the Orange Pull app today, scan the QR code or check
1:06:52
the link in the video video description.
1:06:55
All right man, I am so excited about this.
1:06:58
We've been working our behinds behind the.
1:07:03
Scenes. And yeah man, I mean anyway.
1:07:06
Nico, just just play the video. Just play the video.
1:07:08
Just play. Things are things are going to
1:07:10
be changing just a little bit around here.
1:07:25
Boom, we Brant, we it's the same simply Bitcoin, but we're we're
1:07:32
we're changing up. We are upgrading the brand just
1:07:34
to represent how much we've grown, how much we've come.
1:07:38
This started as a hobby and you know, it migrated to a podcast
1:07:44
and now it's slowly becoming, not slowly, it's quickly
1:07:48
becoming a a media company and simply Bitcoin's quite big.
1:07:52
We got about four people full time and it's a team of like 12
1:07:56
of us and. I think.
1:07:58
So many, so many incredibly talented people just contribute
1:08:02
to making this show possible and giving you guys as much content
1:08:07
as possible. At the rate at which we're
1:08:09
giving you the content, it's quite difficult to do the amount
1:08:13
of stuff that we drop and produce.
1:08:16
And it's been a, it's, it's been a, a, a wild ride.
1:08:20
And it's a privilege to be able to do this for a living.
1:08:23
And we wouldn't be able to do this without you guys.
1:08:26
So we really appreciate you guys and thank you for sticking,
1:08:30
sticking around. I could never have imagined this
1:08:33
in my wildest dreams back in 2019 or 2020 when I started
1:08:37
this, that, you know, we would be here today and this would be
1:08:41
my full time gig. This would be Opti's full time
1:08:43
gig and all the other people that are with simply Bitcoin
1:08:48
like we could, we could never have imagined this.
1:08:50
So a lot of things are changing. We're going to be revamping the
1:08:53
live show. We're going to be making it even
1:08:55
better. Stay tuned.
1:08:57
And also a special surprise for you guys, later on in the day,
1:09:04
we have an additional content creator that is gonna be
1:09:07
dropping content from the Simply Bitcoin channel.
1:09:09
Should we say it? Should we say it?
1:09:11
You guys know who he is. If you guys have been watching
1:09:13
Bitcoin content on YouTube, Dante Cook is back.
1:09:21
He will be dropping his brand new show, Simply Signal later on
1:09:25
today. He'll be dropping 2 episodes a
1:09:27
week. Dante's back on YouTube and
1:09:30
we're really, really excited to have him.
1:09:32
He's an incredibly talented creator.
1:09:34
So yeah, guys, we're really excited about this rebrand, this
1:09:37
refresh. It's just a representation of
1:09:40
how far we've come as a company and where we where we are, where
1:09:44
we believe we are headed. I think that this is a pivotal
1:09:48
moment in human history. This is a separation of money
1:09:51
and state. But most importantly, I think
1:09:54
the way that we win this information warfare, which which
1:09:58
is what I describe it is winning over the hearts and minds of, of
1:10:01
individuals. And one of my favourite quotes
1:10:04
that I've heard that actually got quoted by the Guardian when
1:10:07
I said it at the Bitcoin conference is that if you want
1:10:11
to win the political sphere, essentially what you got to do
1:10:14
is you got to win over the the cultural sphere.
1:10:17
And that's what we're going to try to do here at simply Bitcoin
1:10:20
is merge culture and Bitcoin and really get the message out there
1:10:25
and really get people to understand that, you know, it's
1:10:29
not left versus right. It's not who's in the White
1:10:33
House, it's what money you're using.
1:10:35
And if you fix the money, you fix the world.
1:10:38
And we're incredibly excited about this rebrand is it's not a
1:10:43
new direction. I mean it's and it's an an
1:10:46
evolution of simply Bitcoin opti.
1:10:48
Simply Bitcoin 2.0 yeah man I'm super super excited we've been
1:10:54
working really hard for this it it's took us a while there was a
1:10:57
lot of moving parts and we're super glad that this is all
1:11:00
happening today and not only that that we got Dante on the
1:11:05
team where where we're amping up our content for you guys so you
1:11:11
guys will get a new OG video a new 10 minute ish video five
1:11:17
days a week now we're we're stacked with our content of
1:11:21
course it's going to be the same simply Bitcoin signal.
1:11:23
We're going to give you guys the live show.
1:11:25
We're going to give you guys 5 original pieces of content in
1:11:27
that 10 minute frame. Keep you updated with the news
1:11:29
and stuff. Of course, we're going to
1:11:31
continue to make the shorts and we're still, we're still
1:11:35
figuring out the the logistics of how we are going to handle
1:11:39
our YouTube and Rumble show. But all of that is in the works.
1:11:43
And really what I'm the most excited about guys is as we're
1:11:47
telling you, you know, we got a new rebrand.
1:11:49
So we're also going to give the live show more of a facelift.
1:11:53
So things are going to look cool.
1:11:55
We're still kind of working on some of that stuff in the works.
1:11:58
And me and Jacob have to fully design this on the back end.
1:12:01
But give me about a week or so and we're going to get a
1:12:04
completely new look on the live show.
1:12:06
I think you guys are going to really love this.
1:12:09
It's got some of the things you guys been asking for.
1:12:11
It's also going to give us a little more of maturity here on
1:12:15
the show. And that's what the whole thing
1:12:17
is, is, you know, Nico says it all the time.
1:12:20
It started as a hobby. It turned into a semi semi
1:12:23
respectable podcast. Now we are a small startup media
1:12:27
company. It's grown a lot.
1:12:29
I was getting pretty sappy in our all hands on meeting on
1:12:32
Thursday about the fact that we've come this far.
1:12:35
It's just absolutely incredible. I, I don't know if I put this on
1:12:38
the show before in this context, I think I might have done it on
1:12:42
other shows, but I remember when Nico basically tapped on my
1:12:47
shoulder and was like, yo, I want you to join simply Bitcoin.
1:12:50
We're gonna turn this into the biggest Bitcoin only media show
1:12:54
and it wait, wait, not sorry, not only Bitcoin media show,
1:13:00
Bitcoin media company, Bitcoin only media company and I've saw
1:13:04
the vision since the beginning and now even Nico and I at times
1:13:08
they're like, this is so surreal that we've made it happen and
1:13:11
it's happening in real time. We're going to keep iterating,
1:13:14
make sure the show is is as as best as we can make it with the
1:13:18
with our limited skill sets here.
1:13:20
But the show is updating, maturing.
1:13:23
We're going to get a facelift for you guys.
1:13:24
So I hope you guys truly enjoy the X iteration of simply
1:13:28
Bitcoin. Same simply Bitcoin, just better
1:13:31
little little better production. All these things are in the work
1:13:34
and we're super excited to make this happen again.
1:13:37
I have to figure out a few things how to make it fully
1:13:39
work, but it's in the works and for you guys that yell me yell
1:13:43
at me in the chat about you know, such things as lightning
1:13:45
tips and stuff like that. I got that all in the works.
1:13:49
I just have to fully flush it out, make it look really nice.
1:13:51
So when we drop it for you guys, it looks pretty, it looks really
1:13:55
cool. It's going to be a facelift for
1:13:57
the show, but new brand for simply Bitcoin on Monday.
1:14:01
It's going to already have a new look for you guys.
1:14:04
We just kind of wanted to tease it a little bit for you before
1:14:07
we dropped a Dante's new show tonight.
1:14:10
So we're super hyped about this and again shout out to every
1:14:14
single one of you guys. We really we really, really
1:14:16
appreciate the fact you guys come hang out with us every
1:14:19
single day, the comments, the likes, all that stuff.
1:14:23
We really, I appreciate it and we're going to make sure that we
1:14:26
give you guys the best unfiltered raw show possible and
1:14:30
stay on that simply Bitcoin signal.
1:14:33
Nothing's changing. It's only getting better.
1:14:35
Absolutely, absolutely. Guys, it's it's the best is yet
1:14:39
to come. Really excited.
1:14:40
I saw some questions in the chat.
1:14:43
No, I won't be back in the States for a while.
1:14:46
I'm going to, I mean, I'm going to be in Vegas and then I'm
1:14:49
going to Europe for October to go to the Plan B conference and
1:14:54
the, the, sorry, the Plan B forum and the Bitcoin Amsterdam
1:15:00
conference. And then I saw some other
1:15:02
question. I don't know where it is
1:15:08
anyways, I seem to have lost it, but anyways guys it's going to
1:15:12
be awesome we're really really excited.
1:15:15
Oh oh sorry yes yes that's it that's the that's the question
1:15:20
yes new merch it's going to be absolutely insane.
1:15:23
You guys are going to love it. That's the question I was
1:15:26
looking for, so thank you, Opti. So yes, new merch in the works.
1:15:31
We're working on it. Stay tuned.
1:15:33
We're going to be dropping some some some incredible news coming
1:15:38
up. So guys, stay tuned for Dante's
1:15:40
show. It's going to be dropping.
1:15:41
It's going to be dropping later this afternoon.
1:15:44
We're simply Bitcoin live. This was your episode for
1:15:46
September 6th, 2024. Bitcoin or slavery.
1:15:50
I'm your host, Nico. This is my Co host, Optimus
1:15:52
Fields. We're simply Bitcoin live and
1:15:55
we'll see you on the next one. Peace out, everybody.
1:15:59
It was brought to you by bitcoinwell.com on a mission to
1:16:03
enable independence.