Latest / Simply Bitcoin / BREAKING: 50% of Turkey Uses Bitcoin?! | EP 817

Transcript

BREAKING: 50% of Turkey Uses Bitcoin?! | EP 817 · Simply Bitcoin

• 0:08
  It's all going to zero against Bitcoin.
• 0:12
  It's going up for everyone. You're against Bitcoin.
• 0:22
  You're against freedom, yo. Welcome to submit Bitcoin live.
• 0:27
  We're your number one source for the peaceful Bitcoin revolution.
• 0:29
  We cover bringing news, culture, magic, warfare.
• 0:31
  We will be your guide through. The separation of money in
• 0:34
  state. Speaking of that, it's another
• 0:37
  day, another day to cover that specific topic.
• 0:40
  There was a report that came out that said that over 50%,
• 0:44
  specifically 52% of Turks have exposure to Bitcoin and
• 0:51
  altcoins. Obviously, I mean that the does
• 0:55
  not come as a surprise to me. Is that that report 100%
• 0:59
  accurate? Will kind of dive into all of
• 1:02
  that? But it's a continuation of the
• 1:04
  trend, right? We we've seen something very
• 1:06
  similar happen in Argentina. We've seen something very, very
• 1:10
  similar happen in Nigeria and Nigeria.
• 1:13
  The the last time I saw a report can't it was between 25 to 35%
• 1:18
  of Nigerians are under a certain age, had exposure to Bitcoin and
• 1:22
  all coins specifically. It's mostly stable coins because
• 1:27
  they provide this like, false sense of financial sovereignty
• 1:30
  and also this false sense of of stability, right?
• 1:33
  It's it's like, and that's like one of the talking points from
• 1:36
  central banks, right? They say that they're like
• 1:39
  Bitcoin is too volatile, right? It's one of the main talking
• 1:42
  points. But Bitcoin goes up and to the
• 1:44
  right. Like, it might be volatile in
• 1:46
  the short term, but it goes up and to the right.
• 1:48
  Like Fiat currencies are literally designed to go down
• 1:51
  into the right forever, some of them.
• 1:54
  You know, go down and have ever slowing pace.
• 1:56
  But The thing is, and This is why I believe This is why I've
• 2:00
  said actually in the past and I've tweeted this, why I'm so
• 2:03
  bullish on the global South and developing countries adopting
• 2:07
  Bitcoin is because people have already lost faith in their Fiat
• 2:11
  currencies, right? Look, if you have, if you're in
• 2:18
  the country that is currently enduring 20% inflation, well,
• 2:21
  that's the reported number, right?
• 2:24
  In the US, you know, they say it's 5% if you include housing,
• 2:27
  energy and all. That's true, like 1015%
• 2:29
  whatever, say 5%. But it's low enough for people
• 2:33
  not to ask the question of what is money versus if you're in
• 2:38
  Nigeria, if you're in Venezuela, if you're in Argentina, if
• 2:42
  you're in Turkey. We're going to talk about Turkey
• 2:44
  today. If you're dealing with more than
• 2:47
  20% inflation, Bitcoin. Isn't just a option anymore.
• 2:53
  It's a better alternative, right?
• 2:55
  You, you, you start to you start to seek it out of necessity
• 3:00
  rather than ideology or for speculative reasons like we seek
• 3:03
  it in in the developed world. So I think it's a continuation
• 3:09
  of the trend. This is the separation of money
• 3:11
  and say you're witnessing it firsthand and people are going
• 3:15
  to continue to wake up to the fact that.
• 3:18
  A non state money is just better than the money they offer.
• 3:23
  Now what I'm worried about and this is something that Opti and
• 3:28
  I focus our time Rust and Dell, all of us.
• 3:30
  It's simply Bitcoin and also a lot of the other Bitcoin
• 3:33
  companies as well. It's Swan also.
• 3:36
  How do you wake up the the people that live in the
• 3:41
  developed world where the bread and circuses are strong.
• 3:45
  How do you wake them up to the fact that hey?
• 3:48
  You know, a lot of these economic hardships that you're
• 3:51
  enduring aren't necessarily caused by the opposing political
• 3:56
  party. They're caused by broken money,
• 3:59
  right? And you have broken money.
• 4:00
  The base layer of society is broken, and that starts to
• 4:03
  affect a lot of other things. And people don't even have
• 4:07
  people don't even understand how much that affects everything
• 4:10
  else are. You have broken money, you have
• 4:12
  a broken world in my opinion, and I think that's what Fiat is.
• 4:16
  So this very bullish news from Turkey, I suspect this trend
• 4:19
  will continue 52%, if you are to believe this latest report.
• 4:24
  How long where is that number going to be at 10 years from now
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  when the state currency, Fiat currencies continue to inflate
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  and Bitcoin continues to go approve that.
• 4:36
  It's going up forever, Laura, right?
• 4:39
  I think more people, more and more people, as time goes by,
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  they're going to wake up to this reality.
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  Specifically in the developing world, and then hopefully
• 4:47
  eventually in the developed world, if we do our job as
• 4:51
  bitcoiners and we inform enough people and we wake up enough
• 4:54
  people to the reality that hey, guys, not left versus right,
• 4:58
  it's a party of orange versus party of green, party of
• 5:01
  freedom, peace, prosperity, and Bitcoin versus the party of
• 5:04
  nihilism, poverty, Fiat war, all of that stuff.
• 5:08
  So anyways. It's going to be a good show.
• 5:10
  I'm really excited. I want to bring up my legendary
• 5:12
  cohost. He is optimistic.
• 5:14
  Today he'd sent me a selfie of him smiling just like that.
• 5:19
  It was like a GIF. It was you know how like the
• 5:21
  iPhone takes like these like weird pictures where it's not
• 5:24
  like a still frame. It's like it kind of like
• 5:25
  records. Like the first, you know, second
• 5:28
  or two it was it was Opti smiling.
• 5:31
  I don't know why. Maybe it's because he spent the
• 5:32
  weekend with Chrissy and the French Carriera.
• 5:36
  I don't know anyways, how you doing?
• 5:38
  I'm doing wonderful, man. It's great to be here.
• 5:41
  Just just covering the separation of money and state
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  and men, as I always say on the show and I think we all know to
• 5:48
  be true, humans need to feel pain.
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  And if Turkey is not an example of them feeling pain in their
• 5:54
  Fiat currencies and for the proof that people will choose
• 5:57
  alternatives, I don't know what else is.
• 6:00
  So I'm glad that we are seeing this happen in real time and
• 6:04
  even even during this bear market, you know, we were kind
• 6:06
  of low key just like trolling each other before the show, like
• 6:09
  what's the price gonna do? You know, we don't like to
• 6:11
  speculate on the show, but we sometimes look at the charts
• 6:13
  here and they're just wondering whether we're going to be a lot
• 6:16
  more poor or we'll be good to go.
• 6:19
  You know, is our purchasing power going to get demolished or
• 6:21
  not? Doesn't really matter.
• 6:24
  It it's what we always say here. The only number that matters is
• 6:27
  the Sats under your control. And if you are holding Fiat
• 6:30
  currencies of any kind, then you will eventually start to feel
• 6:35
  the pain and you start to see the sticker shock as we always
• 6:38
  say and you will look for alternatives.
• 6:40
  And if Turkey is not a prime example of this, and I don't
• 6:44
  know what is, but anyways, on another note, I am so excited
• 6:48
  for our culture. Today we have not only a good
• 6:51
  friend, but someone that works with us at simply Bitcoin.
• 6:53
  He is one of our writers on our sub stack, Zach, and he's been
• 6:58
  absolutely killing it on our sub stack.
• 7:00
  But furthermore, this guy, you know, like guys, I can rant, you
• 7:04
  know, I I can just do this off the top of my head.
• 7:06
  But Zach is able to put all of my energy in written form and I
• 7:11
  absolutely love him. He might be one of the most
• 7:14
  militant bitcoiners that I know. And this is the type of energy
• 7:17
  that I love. This is the type of energy that
• 7:19
  I think more people need. And this is the type of energy
• 7:22
  that you guys out there need to also be spreading.
• 7:25
  And understanding that guys, we are all in on this.
• 7:28
  This is everything. This is why we fight for.
• 7:30
  This is why we do what we do is because we understand the
• 7:34
  problems and we're here to fix this.
• 7:36
  I'm sure Zach would say to himself, this is the hill we are
• 7:39
  dying on. You know, Bitcoin or death,
• 7:41
  Bitcoin or slavery. This is the way it.
• 7:43
  It's not even hyperbole at this point.
• 7:45
  It is just it's uncontentious that it is Bitcoin or it is
• 7:49
  digital slavery. And I choose Bitcoin and more
• 7:52
  and more people around the world are choosing Bitcoin anyway.
• 7:54
  Zach, how you doing, brother? Good to have you.
• 7:57
  And that's a hell of an underdog introduction.
• 8:00
  Thank you very much. It's great to be here.
• 8:02
  It's feel blessed to be here. Blessed to be a part of the team
• 8:05
  and specifically I'm talking about Bitcoin team, Bitcoin team
• 8:09
  Orange. You know we're going to win and
• 8:14
  and that's just because we're going to make it happen.
• 8:18
  Not because it's an inevitable what's inevitable is, is human
• 8:21
  flourishing and human survival and.
• 8:24
  That happens through Bitcoin. It doesn't happen through Fiat.
• 8:28
  I love that. Yeah, Bitcoin.
• 8:29
  Hold on, hold on. Bitcoin is the enabler of human
• 8:36
  freedom, peace and prosperity and and Fiat is not.
• 8:41
  I love that angle. I really like that a lot.
• 8:44
  Anyways, guys, no more delay. Let's jump straight into the
• 8:46
  show. We got a lot to talk about
• 8:47
  today. Let's check it out.
• 8:50
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  titanium. Anyways, at the time of
• 10:13
  recording the Bitcoin price is 25,785 sets per dollar 3878
• 10:20
  block height 808 hundred and 6347 blocks to having 33,653
• 10:26
  having estimate April 21st 2024 total lightning network capacity
• 10:31
  4715 Bitcoin. Capacity value 121 million U.S.
• 10:38
  dollars Realize monetary inflation 1.75% The market
• 10:44
  capitalization of Bitcoin $502 billion with a B Bitcoin versus
• 10:50
  gold market cap 3.9%. We are still very, very early
• 10:57
  and I love that realized monetary inflation number
• 10:59
  continuing to take Fiat currency to absolute school.
• 11:02
  Anyways, I went down a little bit of a rabbit hole yesterday
• 11:05
  during Labor Day weekend and I went down the rabbit hole of of
• 11:10
  central banks and I went down the rabbit hole of Fiat money
• 11:14
  and I ran into this amazing channel, Meese's Media.
• 11:19
  And they made a video on The Creature from Jekyll Island,
• 11:23
  which is a book I highly recommend All Bitcoiners to
• 11:27
  read. And it's the story of the
• 11:29
  creation of the Federal Reserve here in the United States, and I
• 11:35
  thought it was really interesting.
• 11:36
  Anyways, let's check out this video and then we'll talk about
• 11:39
  it. The creature from Jekyll Island.
• 11:41
  The battle over a central bank is an issue that goes back to
• 11:44
  the beginning of America. The Federalists, led by
• 11:46
  Alexander Hamilton, wanted the new American government to
• 11:48
  resemble the British Empire with their own Bank of England.
• 11:51
  They were opposed by Jeffersonian Republicans who
• 11:53
  understood a central bank to be a dangerous institution of
• 11:55
  corruption that would benefit a politically connected minority.
• 11:58
  Both sides saw their share of victories and defeats, leading
• 12:01
  to the establishment of the First Bank of the United States
• 12:03
  under Washington, ended by Jeffersonians in 1811.
• 12:07
  A Second Bank of the United States was created in 1815 and
• 12:10
  then ended by Andrew Jackson in 1836.
• 12:13
  Older than any American central bank, however, was the dollar,
• 12:15
  which began as a Spanish silver coin widely used in the colonies
• 12:19
  during the Revolutionary War. America tried its hand at paper
• 12:21
  currency not backed by gold or silver.
• 12:24
  The result was the Continental Congress acquiring resources and
• 12:27
  military service from Americans and exchange from an unstable
• 12:29
  currency that collapsed in value.
• 12:31
  The result was in 1792, the establishment of a national
• 12:34
  currency based in gold and silver.
• 12:36
  The new US mints would mold coins in a patriotic design, but
• 12:39
  the weight of silver remains the same as the Spanish dollar, with
• 12:42
  currencies around the world all backed by gold and silver.
• 12:45
  Global trade benefited from what is called the classical gold
• 12:47
  standard. This international gold standard
• 12:49
  provided an automatic market mechanism for checking the
• 12:52
  inflationary potential of government.
• 12:53
  If a country like Mexico inflated their paper pesos, the
• 12:56
  inevitable result would be gold leaving the country when foreign
• 12:58
  banks redeemed the Mexican paper money for the proper amount of
• 13:01
  gold and silver. While the ability to redeem gold
• 13:03
  internationally imposed a level of discipline on national
• 13:06
  governments, interventions in domestic economies still managed
• 13:08
  to create the booms and busts we see in business cycles.
• 13:11
  Often through some sort of government privilege, banks
• 13:14
  would be legally protected to print money not backed by gold,
• 13:16
  which would spur investment into projects that otherwise would
• 13:19
  not be profitable, resulting in a bust.
• 13:21
  After a particularly bad financial crisis in 1907, the
• 13:24
  result of bad banking policies first imposed during the Civil
• 13:26
  War, major Wall Street banks decided to promote the creation
• 13:29
  of a new central bank that could be depended on to bail them out
• 13:31
  during a financial crisis. The Wall Street bankers and
• 13:34
  their allied politicians understood that it would be
• 13:36
  difficult to get the American public to create such a powerful
• 13:38
  and dangerous government tool. In planning the creation of this
• 13:41
  new bank, they met in secret locations like Jekyll Island,
• 13:44
  GA. Using fake names, they plotted a
• 13:46
  national propaganda campaign to sell the public and elected
• 13:48
  officials on the plan by any means necessary.
• 13:51
  In 1912, Woodrow Wilson was elected president in a threeway
• 13:54
  race with less than 42% of the vote.
• 13:56
  A year later, he would sign into law the creation of the Federal
• 13:59
  Reserve. Shortly after, the costs of
• 14:01
  World War One would force governments around the world to
• 14:04
  begin massively inflating their currencies, which would result
• 14:06
  as the end of the gold standard. So if the classical gold
• 14:09
  standard works so well, why did it break down?
• 14:12
  It broke down because governments were entrusted with
• 14:14
  the task of keeping their monetary promises of seeing to
• 14:16
  it that pounds, dollars, francs, etcetera were always redeemable
• 14:20
  in gold as they and their controlled banking system had
• 14:22
  pledged. Governments were incentivized to
• 14:24
  allow banks to print far more paper money than gold on hand
• 14:26
  than they could in a free market.
• 14:27
  It was not gold that failed. It was the folly of trusting the
• 14:30
  government to keep its promises. Like and I, I and I would add to
• 14:34
  that, I think gold did fail. I think gold like it's physical
• 14:39
  properties allowed governments to do that and I love how they
• 14:44
  brought up. But in in general that video
• 14:47
  completely nailed the issue. I just think that and they did.
• 14:52
  To give him credit, they did mention Bitcoin in it in another
• 14:55
  video, but gold failed like gold if gold would have worked.
• 15:02
  The Romans wouldn't have related the money too, like this is like
• 15:06
  a story oldest time. This has happened many many
• 15:10
  times in the past. The solution to this is to have
• 15:14
  a monetary unit that can't be debased by a government of which
• 15:22
  is very easy for an individual to custody and to actually use
• 15:27
  his money. And I think Bitcoin has all of
• 15:30
  those, all of those characteristics and gold does
• 15:35
  not. If you have a large amount of
• 15:37
  gold, it's very heavy. Try sending it instantaneously
• 15:42
  across the world, you're not going to be able to do that.
• 15:46
  So I think it it enabled governments to do you know what
• 15:51
  they wanted to do and I think Bitcoin and it's going to be
• 15:54
  very, very chaotic this transition.
• 15:58
  The governments are going to want to maintain that privilege
• 16:01
  of being able to create money for free.
• 16:03
  But I think Bitcoins characteristics most more
• 16:07
  importantly are going to protect individuals, right that start to
• 16:12
  use it as savings and start to use it as money.
• 16:15
  And regardless of who's in power and who's calling the shots and
• 16:20
  whatnot, people are going to have the ability to opt out.
• 16:24
  And just like I don't want to participate in that and I think
• 16:26
  that the. Inevitable longterm consequence
• 16:30
  of that is going to be a forcing function on governments to at
• 16:36
  least increase their their discipline on on on spending
• 16:40
  because they're and and beauty on actually touched upon this
• 16:44
  and there's this. I asked him like look, I I think
• 16:47
  Bitcoin. I think it's Bitcoin or slavery.
• 16:49
  And then he responded with Nico. It's not Bitcoin or slavery.
• 16:52
  It's Bitcoin or death. I posted that on my on my
• 16:54
  personal Twitter account. And he identified the problem
• 16:57
  too. He's like, look like the fact
• 17:00
  that governments have this ability to just create money has
• 17:04
  enabled all this militarism. You know, all of this, all
• 17:07
  these, all these malinvestments, like the video nailed it that
• 17:11
  that otherwise you would not invest in that, in that in that
• 17:15
  particular thing. And Fiat money has enabled that.
• 17:18
  I think once we go back to a sound money standard.
• 17:22
  Of which I think gold failed in. I think it it it, it failed it
• 17:26
  failed multiple times. But if with Bitcoin if people
• 17:31
  learn to take self custody and they start using it as money and
• 17:34
  they take advantage of its physical characteristics, I, I,
• 17:38
  I just it's going to be very difficult for them to do that.
• 17:41
  Look I think like if any government starts to crack down
• 17:44
  I think what you're going to start to see is people leave
• 17:45
  like you're just going to leave the country.
• 17:47
  Like, OK, I'm moving Gopti and I joke about this all the time,
• 17:50
  right? Like.
• 17:51
  If they start cracking down in the US for whatever reason, we
• 17:54
  obviously want to hold it down here.
• 17:56
  We're like, we're just gonna move to El Salvador, right?
• 17:59
  So I think in the long term, Bitcoin is a forcing function,
• 18:02
  but I still think that the powers of B are going to do
• 18:06
  whatever it takes to hold on to that privilege.
• 18:08
  Anyways, Opti, what's your take on this?
• 18:10
  Yeah, well, first and foremost, shouts out to, I think the
• 18:14
  author's name is Edward Griffin, right?
• 18:16
  Of the Creature from Jekyll Island.
• 18:17
  I read that when I was like 18 years old.
• 18:19
  And then by chance when I went to college, one of my electives
• 18:22
  was this philosophy professor who was absolute batshit crazy.
• 18:26
  But he was my kind of people and he was talking about the
• 18:29
  creature from Jekyll Island and and this is like the TLDR
• 18:32
  roadmap of how I ended up becoming a bitcoiner because I
• 18:36
  just kind of fell into that book and then I realized what kind of
• 18:39
  sham the world was and and that really opened my eyes up to how
• 18:44
  fake everything is and and how the Fiat system is run.
• 18:47
  And I mean like this is in my opinion a must read for
• 18:51
  everyone. I know you guys don't like to
• 18:53
  read out there because it is like like this thick of a book.
• 18:56
  It's a it's a it's a behemoth. But it's it's a must read for
• 18:59
  bitcoiners. And of course, like, do your
• 19:02
  best to try to get your normies to read it, but most people
• 19:04
  won't read that big of a book. But Bitcoin literally fixes
• 19:07
  this, and we talk about this all the time.
• 19:09
  And one of the most glaring facts of that little video and
• 19:12
  of the book, The Creature from Jekyll Island, is that modern
• 19:15
  banking had to be done in secret because the bankers knew that
• 19:18
  people would not go for this. Like, this is the Fiat system.
• 19:21
  This is the world we live in where it literally had to be
• 19:25
  created in the darkness of night so that people didn't know or
• 19:29
  didn't realize we're getting robbed from and and yet people
• 19:32
  think this is the status quo. And, you know, I'm so glad we
• 19:35
  have Zach on today because this is, this is all we talk about
• 19:38
  about like this is your brain on Fiat guys.
• 19:40
  Like it's literally a racket by a small cabal of bankers that
• 19:43
  are stealing from every single one of you guys.
• 19:46
  And until you wake up to this, you are stuck in the rat race.
• 19:49
  You don't understand what is going on.
• 19:51
  You, you're, you know, you're blinded in the matrix.
• 19:53
  However your way you want to paint it, it all stems down to
• 19:57
  the fact that modern banking is literally designed to steal from
• 20:01
  you and was created in the darkness of night so that the
• 20:03
  average person didn't realize they were getting stolen from.
• 20:06
  And yet people think this is the status quo, that this is how
• 20:09
  things are supposed to happen, that, you know, governments or
• 20:12
  private institutions should be the issuers of money.
• 20:15
  And we have Bitcoin and Bitcoin fixes.
• 20:17
  This like Bitcoin is the solution to this problem.
• 20:19
  You don't need to trust someone with your money anymore because
• 20:22
  you just put your savings in Bitcoin.
• 20:24
  You know algorithmically protected money.
• 20:26
  This is the way eliminate humans from the money supply because we
• 20:30
  know overtime as long as the history of man has shown us that
• 20:34
  if you give someone control of your money, if you give them
• 20:37
  your savings, they will abuse that.
• 20:39
  Well I don't know about you but I am tired of the abuse and I'm
• 20:43
  doing my best to spread that signal to anyone that will
• 20:46
  listen that you do not need to take this abuse.
• 20:48
  There is a solution to this. There is another way, there is
• 20:51
  an alternative and it is called Bitcoin.
• 20:52
  So hey, you can either complain and be a victim of the Fiat
• 20:57
  system or you take back your sovereignty, you take back your
• 21:01
  life, you take back your money and you save in something that
• 21:04
  cannot be debased, that is censorship resistant, that is
• 21:06
  outside of the control of the psychopaths.
• 21:08
  I don't know about you but I know what choice I'm making
• 21:12
  anyways. I think I'm, I think I'm hype
• 21:13
  just cuz Zach's here I I'm taking a book from from his
• 21:16
  page. Anyways, Zach's, what's your
• 21:18
  thoughts on all this, bro? Yeah, I I couldn't agree more,
• 21:22
  you know. I I do a lot of writing for
• 21:25
  Simply, and when I'm writing, it's mostly my inner voice
• 21:30
  talking to myself to get my own ass in motion and do the right
• 21:35
  things that need to be done. Because I've have, you know,
• 21:38
  decades of experience being told that I need to listen to
• 21:43
  somebody else who doesn't have my best interest in mind.
• 21:46
  They have their own best interest in mind.
• 21:48
  And that's that's just human nature.
• 21:51
  But the problem is. When those selfinterested folks
• 21:54
  control the money and hold your money and make decisions for you
• 21:59
  about how to spend your money, you're going to end up in a bad
• 22:02
  situation. And so, you know, a lot of the
• 22:06
  programming I like to say is, is really just accepting that
• 22:11
  somebody else is in control of your life.
• 22:13
  So what you really need to do is take ownership and control of
• 22:16
  your own life. And that starts by taking
• 22:18
  control and ownership of your own money.
• 22:20
  And so. You know, that's why anybody
• 22:22
  that has any understanding of how the world works, they hold a
• 22:25
  lot of gold. And that was the only solution
• 22:29
  pre 2009. So, you know, part of the thing
• 22:33
  that people don't understand is how dumb they are.
• 22:35
  I mean, in general, we're all kind of dumb.
• 22:38
  I mean, if you put somebody, you know, in a desert or in a jungle
• 22:42
  by themselves, they're not going to make it 999 times out of 100,
• 22:46
  so. And the other thing to think
• 22:49
  about is gold is a fairly new invention.
• 22:51
  I mean, it's only been around for 5000 years.
• 22:55
  Fiat's a very, very new invention.
• 22:57
  So it's just, it's just text messages and that's all Bitcoin
• 23:00
  really is too. It's just that rather than the
• 23:03
  rather than the the conspirators holding the money for you,
• 23:07
  Bitcoin allows you to hold the money yourself.
• 23:09
  And it's a game changer. So, and that's where it's all
• 23:12
  about, you know, accepting your sovereignty for yourself, taking
• 23:16
  back your life for yourself. And then, you know, blazing a
• 23:19
  path forward from there. 100% I absolutely love how how you said
• 23:24
  that, right It Bitcoin allows you to truly, you know make a
• 23:28
  path for yourself 100% and I think it makes it very difficult
• 23:32
  for anybody to to go against you especially especially on a on a
• 23:37
  large scale. I think that that's truly you
• 23:41
  know, and I think there's there's there's very, very deep
• 23:43
  consequences to that. And I think the book The
• 23:46
  Sovereign Individual really, really kind of nails it.
• 23:50
  And a lot of the predictions came true that that they that
• 23:54
  they theorized back in the 90s. And I think it's because they
• 23:58
  were looking at like history from the lens of violence,
• 24:01
  right. And I think that Bitcoin makes
• 24:04
  it very, very difficult to confiscate swaths of wealth from
• 24:10
  a large amount of people, specifically if those people are
• 24:13
  taking self custody of their Bitcoin.
• 24:15
  And I think that's a forcing function in the longterm.
• 24:18
  Anyways, guys, before we move on to the news, I want to give a
• 24:20
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• 24:50
  on to the news. The Daily News.
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  Anyways, guys, let's get to the news.
• 25:44
  Pretty crazy, but let's kind of go back and figure out how we
• 25:47
  got here in the first place. So here is Euronews and it's
• 25:52
  inflation in Turkey jumps to 59% and this news came out, it came
• 25:59
  out the 9th, so not that long ago.
• 26:03
  May 9th, 2023 and it was It was published before and here is a
• 26:08
  tweet thread says Turkey's economy grew rapidly over the
• 26:11
  last 20 years, but now 2/3 of Turks are struggling to pay for
• 26:15
  food and cover rent. What the hell went wrong now?
• 26:17
  It's very interesting when I read that statement.
• 26:21
  That's a very similar story in the United States.
• 26:23
  Remember that article that we covered for you guys that 61% of
• 26:27
  Americans are living paycheck to paycheck?
• 26:32
  What is going on? It's the broken money.
• 26:34
  But what's on, what's what's, what's crazy, What's happening
• 26:37
  in in Turkey, according to this article, is the fact that people
• 26:42
  are choosing to opt out, according to this article, which
• 26:46
  I I think is fascinating. But I also, it doesn't surprise
• 26:50
  me, human beings are very, very, you know, they're very
• 26:53
  intuitive. They're obviously going to seek
• 26:56
  solutions. They're not just going to sit,
• 26:58
  sit there and take it and say, you know what?
• 27:00
  Just my currency devalues you know 60% a year.
• 27:04
  That's it. I I'm not going to seek and I'm
• 27:07
  not going to seek an alternative.
• 27:08
  I'm not going to seek a solution.
• 27:09
  So I think this is I think this is obvious in hindsight.
• 27:13
  But anyways it goes on to say inflation ridden Turkey turns to
• 27:16
  Bitcoin. Will the rest of the world
• 27:18
  follow? Goes on to say over half of
• 27:20
  Turkish adults now invest in crypto currencies.
• 27:23
  Crypto emerge as a haven against double digit inflation in in
• 27:26
  countries like Turkey and Venezuela Historical inflation
• 27:29
  trends. Suggest potential boost in
• 27:32
  global crypto adoption during economic turn downturns.
• 27:36
  And here's the thing, I think that's a one way way door.
• 27:39
  I think once you transition to a Bitcoin standard, good luck.
• 27:42
  Going back to a Fiat standard like that is inconceivable, but
• 27:47
  maybe I'm just speaking about myself.
• 27:49
  Anyways goes on to say on Friday September 1st Crypto Exchange KU
• 27:53
  Coin released a report highlighting turkeys growing.
• 27:55
  Trend of crypto investments The study revealed that the that the
• 27:58
  percentage of crypto investors in Turkey aged 18 to 60 surged
• 28:03
  from 40% in November 2021 to 52% by May 2023.
• 28:10
  The shift, notably amidst the Turkish lira losing over 50% of
• 28:14
  its value against the US dollar, underscores the popularity of
• 28:17
  digital assets and countries facing economic strife.
• 28:21
  The report also highlights that in dire circumstances, crypto
• 28:24
  can reach a wider audience in Turkey.
• 28:26
  The gender the gender crypto ownership gap is closing,
• 28:30
  especially among younger age groups.
• 28:32
  Notably, 47% of crypto investors between 18 and 30 in Turkey are
• 28:37
  female. Turkey isn't the only country
• 28:39
  turning to crypto currencies amids amidst economic
• 28:42
  challenges. Are Argentina grappling with its
• 28:45
  own set of inflationary pressures?
• 28:47
  Has seen a rise in crypto adoption right?
• 28:50
  So and like you have to ask yourself like why is this
• 28:53
  happening? And also I know what a lot of
• 28:56
  people are thinking is like, but Nico, like Bitcoin hasn't made
• 28:58
  an all time high. Well it hasn't Turkey.
• 29:01
  In Turkey Bitcoin actually made an all time high in the lira
• 29:04
  back in July 28th. And very similar story in
• 29:08
  Argentina, Bitcoin actually has recently made it all time high,
• 29:13
  continues to make all time highs.
• 29:15
  So yeah, like Bitcoin is proving that it's a safe haven.
• 29:20
  To to, you know to local Fiat currencies, it's it's incredibly
• 29:25
  obvious. I could have said I told you so,
• 29:29
  but anyways Opti, are you surprised?
• 29:32
  I mean it's not really surprising.
• 29:34
  It's not really surprising like it's just it's just like
• 29:36
  confirming what we've what we've believed, you know for a while
• 29:40
  now. Yeah, I mean it really makes you
• 29:44
  wonder. Of course we are in the first
• 29:47
  world in America and it really makes you wonder at like what
• 29:49
  stage of the spectrum from the reported US inflation rate to
• 29:54
  Turkey's hyperinflation rate, will people in the first world
• 29:57
  start to decide to embrace Bitcoin.
• 29:59
  And we know that this is the inevitable journey is, you know,
• 30:02
  you're, you realize your Fiat currencies aren't holding their
• 30:05
  value and then you start to take steps towards the Bitcoin
• 30:08
  standard. And of course this doesn't
• 30:10
  happen overnight. And it kind of adds credence to
• 30:13
  the idea of just how much work we have to do as Bitcoin
• 30:16
  educators. As you know, as I like to
• 30:18
  jokingly and actually say it's Bitcoin propagandists to explain
• 30:22
  to people that they need to be holding Bitcoin.
• 30:24
  And of course a lot of people it it's, it kind of goes back to
• 30:28
  what we were saying in the beginning.
• 30:29
  You know, a lot of people, they're very conservative when
• 30:33
  it comes to their savings, but they're just so willing to give
• 30:35
  that away to someone to control. And once they start taking back
• 30:40
  their sovereignty, they start taking back their money.
• 30:42
  They take these baby steps into becoming bitcoiners and it
• 30:46
  really blows your mind that sometimes they go into these,
• 30:53
  you know, shit coins and stable coins and all this stuff and and
• 30:55
  eventually they'll end up in Bitcoin.
• 30:57
  Because as the name of the game is is everyone's moving towards
• 31:01
  the hardest money in the world. And it's going to take
• 31:03
  individuals, it's going to take rough lessons, It's going to
• 31:05
  take some painful lessons for people to realize that they will
• 31:09
  eventually need to be holding Bitcoin.
• 31:11
  And so I'm not surprised at all because this is something I say
• 31:14
  all the time, like human psychology is very interesting.
• 31:17
  We don't usually run towards pleasure.
• 31:19
  We try to avoid pain and what is more painful than holding what
• 31:23
  was the current inflation rates here like over 60%?
• 31:27
  Like 59%. Yeah, that's absolutely insane.
• 31:30
  Like that. I I don't even know how people
• 31:33
  like in Turkey or Argentina or other places that are
• 31:36
  hyperinflating right now are able to even survive with with
• 31:39
  currencies like this, with devaluation like this.
• 31:42
  It's absolutely madness. And this is the inevitable end
• 31:46
  of all Fiat currencies. You know, when Fiat money dies,
• 31:50
  it hyper inflates. And we're seeing this happen
• 31:53
  around the world. And even though we're in America
• 31:55
  and we have the dollar and we'll probably be the last domino to
• 31:59
  fall because of the world reserve currency, the the weaker
• 32:02
  currencies in the world, the weaker Fiat currencies in the
• 32:04
  world will start to crumble and they will look for alternatives.
• 32:08
  And you know, people will move towards harder currencies.
• 32:11
  In some cases people will move to the dollar, in some cases
• 32:13
  people will move to gold. In some cases, you know, once
• 32:16
  they're finally ready to make a step that will get hoodwinked by
• 32:19
  shit coins, but then they'll eventually make it to Bitcoin.
• 32:22
  And this is just part of the process.
• 32:24
  I wish it didn't have to be this painful and people could be like
• 32:29
  the lucky Austrian bitcoiners out there that are just like, Oh
• 32:31
  my feel out currency is trash. Now I'm a bitcoiner, I didn't go
• 32:34
  down that path. So I I definitely see and feel
• 32:37
  people's pain because hey man, like it.
• 32:41
  It's not that easy to grasp what is going on over here and it
• 32:45
  doesn't make it easier with so much shit coin propaganda out
• 32:49
  there that are trying to scam you out of your out of your
• 32:52
  savings. And so hey, you know, kudos to
• 32:55
  all the people in Turkey that are finding the escape routes
• 32:59
  and hopefully they will all end up on Bitcoin eventually and and
• 33:03
  protect themselves because this is what it's all about.
• 33:05
  It's protecting yourself because you can't trust other people to
• 33:08
  have your best interest in mind, and this is what it means to be
• 33:11
  a bitcoiner. 100% Zach. What's your take on all this?
• 33:15
  Yeah, no, exactly. I I 100% agree with that.
• 33:19
  You know, one of the things I like to think about is you can
• 33:22
  sort of look at Fiat money as analogous to Bitcoin in the
• 33:27
  sense that, you know, the US dollar is sort of Bitcoin, if
• 33:32
  you will, in the sense that it was a new innovation beyond
• 33:34
  gold. And then you have all these Fiat
• 33:36
  currencies, 160 different Fiat currencies.
• 33:40
  It's kind of like the Scambrian explosion of, you know, Ethereum
• 33:44
  shitting out all these. Altcoins, you know, trying to
• 33:47
  imitate the new technology, you know, with with Fiat, the US
• 33:50
  dollar was the new technology lawyering money through text
• 33:53
  messages, using a Ledger as the base layer, that's what Bitcoin
• 33:57
  is, but where you have self custody ownership.
• 34:00
  So again, it's just a new tech. Bitcoin is there's a lot of
• 34:04
  impostors and impersonators, eventually everybody in those
• 34:07
  Fiat, you know. Alternatives.
• 34:13
  And same with the with the Bitcoin, all those alternatives,
• 34:16
  they're all just going to dump into the harder money, which is
• 34:18
  obviously Bitcoin. 100 percent, 100%, I agree with you.
• 34:22
  I think all roads leads to Bitcoin and I think that article
• 34:26
  in this news coming out of Nigeria, that's sorry, coming
• 34:29
  out of Turkey, but also coming out of Nigeria, right?
• 34:31
  I think the fact that Javier Mali is so popular, even though
• 34:36
  his policies would would have seemed so radical in terms of
• 34:39
  the Overton Window not too long ago.
• 34:42
  I think is a testament to to the fact that people are asking
• 34:47
  asking questions. What is money?
• 34:49
  What bro? The money is clearly broken and
• 34:52
  then people intuitively obviously seek a solution.
• 34:55
  Guys, before we move on to the culture segment, I want to give
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  I'm so excited to hear what Zach has to say.
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• 36:19
  All right, guys, I'm really hoping that we have a master
• 36:23
  class right now because Zach, like I've been saying, I don't
• 36:27
  just praise Zach because he's a friend and he works with us.
• 36:30
  I literally poached him because he's my favorite writer and he
• 36:33
  speaks to me personally. And so before we get into all of
• 36:38
  the epic grants, the epic militant Bitcoin grants, and I'm
• 36:41
  sure to follow, everyone loves a Bitcoin story.
• 36:44
  So is that TLDR us, the audience out there?
• 36:47
  How did you end up on Bitcoin? I just, I just hate the current
• 36:54
  system. And I didn't, I didn't know
• 36:56
  there was an alternative available.
• 36:58
  I mean, I've been looking for one.
• 37:00
  You know, I read a lot of books, high school, college, and and.
• 37:05
  And I've been looking for South and I've been looking for a
• 37:08
  solution. I knew things were fucked up.
• 37:11
  I just, I didn't know why. I didn't know it was the money.
• 37:13
  And then once I stumbled into Bitcoin, you know, 2017 or so,
• 37:19
  all time high yo load into it at 20,000 retirement, everything, I
• 37:24
  just immediately was hooked. Once I found it, realized what
• 37:27
  it was. And I've been here just grinding
• 37:30
  ever since trying to spread the gospel.
• 37:33
  Absolutely love it. And and before I ask you some
• 37:35
  more some more questions. I I think it'd be telling to
• 37:40
  explain to the people just how many obstacles and and you know
• 37:45
  how many times you shot yourself in the foot to become a
• 37:48
  bitcoiner. I know you told me you you went
• 37:50
  a Bitcoin miner. You did the shitcoin route and
• 37:52
  then you finally consolidated and you're just like I am,
• 37:55
  better off just stacking sats and staying humble.
• 37:59
  Yeah, so there's been a lot of character building experiences.
• 38:05
  When I say I went all in, what happened was I I thought we were
• 38:11
  in hyper bitcoinization when as soon as I found it listening to
• 38:15
  you know some of the ogs in the space like from noted podcast
• 38:20
  with Pierre and Bisteen and Stefan Lovera and.
• 38:26
  A lot of guys, I guess from the 13 and 11 class talking about
• 38:31
  how it's possible we're just going to go to the moon.
• 38:33
  You know, we're in that eternal September moment and Bitcoin's
• 38:37
  just going to continue, continue on to millions of dollars of
• 38:40
  coins. So I was under the impression
• 38:43
  the only way I was going to be able to afford any was to mine
• 38:45
  it. So I yoloed into the miners.
• 38:49
  I I think I was paying something like $3000 a minor.
• 38:53
  It just I got completely destroyed.
• 38:55
  What happened was I I hooked it up to residential electricity
• 39:00
  having no clue that the more residential electricity you you
• 39:05
  you use the price goes up so they charge you more for your
• 39:10
  electricity. So you know by end of 2018 price
• 39:16
  was down around 3000 and you know we were on Twitter together
• 39:21
  and. You know the 17 class was just
• 39:23
  screaming at each other. We're never giving up.
• 39:26
  We're not stopping. And so you're just, you get
• 39:29
  stuck in the moment of the hype and and you have all of your
• 39:34
  past experiences telling you that you should not hold on to
• 39:37
  this, they should sell it. You have all the mainstream
• 39:39
  media, you know, pleading with you that it's killing the
• 39:42
  environment. It's it's killing baby seals or
• 39:45
  or the polar bears. And so you you got the whole
• 39:49
  world against you. That you have to.
• 39:52
  So you have to work through that And you know one of the ways
• 39:56
  that I do that is just writing for myself and and just kind of
• 40:00
  raging out against the world that you guys are wrong, that
• 40:03
  we're right and that this is a better technology.
• 40:05
  But it takes a lot of conviction, a lot of learning, a
• 40:10
  lot of understanding. But once you get you know four
• 40:12
  years into it, you've read everything available.
• 40:15
  You've watched every YouTube available.
• 40:18
  You've probably written about it yourself, certainly on.
• 40:21
  Bitcoin, Twitter or whatever. For them, you understand the
• 40:25
  arguments and why they're all wrong and why Bitcoin's gonna
• 40:27
  win. Yeah, I love it and I only bring
• 40:32
  it up. I know it's painful to talk
• 40:34
  about our mistakes, but it's. I think it's very.
• 40:37
  Telling for people out there that like look it it hasn't come
• 40:40
  easy for us and and the classic meme of like you got lucky, it's
• 40:43
  like no, man, we've all have paid our dues and it it just
• 40:49
  finally clicks for you. It will one more question before
• 40:52
  I get to the other question. Do you think this time's going
• 40:54
  to be different for you personally?
• 40:55
  Are you going to get stupidly bullish?
• 40:57
  Are we going to hyperbic quantization?
• 40:58
  Have you learned? Are you staying humble now?
• 41:03
  It's impossible to it's impossible to override your
• 41:06
  emotions. I mean, the best you can do is
• 41:08
  know they're coming and be aware of it.
• 41:11
  But that's a lifelong process. Like, really, if you think about
• 41:16
  it, like maturity and adulthood, it's really about understanding
• 41:20
  your emotions and knowing they're going to be there and
• 41:24
  trying to help yourself deal with them a little bit.
• 41:27
  I mean you know we were at 60,000, I was, I was looking to
• 41:30
  Max out more credit cards. I knew we were going to crash at
• 41:34
  some point. But you I just can't help
• 41:37
  myself. And then we're at 1516 thousand.
• 41:41
  Most recently I was saying well maybe I should hold off on
• 41:45
  maxing out another credit card and here we are at what, 25?
• 41:49
  So it's impossible. But what you can do is just
• 41:53
  educate yourself on what Bitcoin is and that will sort of help
• 41:58
  you approach a bitcoins in, as you like to say, which I think
• 42:01
  is a great, a great tool to sort of think about it.
• 42:05
  Yeah, 100%. And I see our boy by king to
• 42:08
  giving us thumbs down because this is the point where we tell
• 42:10
  you guys stay humble, stack sets, but stay solvent and do
• 42:14
  not get over leveraged. Guys, this is a longterm game.
• 42:17
  It's not a Sprint. It's a marathon.
• 42:19
  All right, next topic, and I think this is going to be.
• 42:22
  Very good advice and and and telling for people out there.
• 42:25
  And again I told you this before the show Zach.
• 42:27
  Without daxing too much personal information.
• 42:30
  We don't we don't want to get you in a place where you it's a
• 42:32
  little sticky out there for you but I know what you do for your
• 42:35
  Fiat job and just to put it in TLDR, you work within the belly
• 42:40
  of the beast and I think This is why you have such a good
• 42:43
  perspective on what is going on in the Fiat system.
• 42:46
  So maybe, you know, do this vaguely kind of just illustrate.
• 42:51
  Exactly where you may work, who you might work with and why you
• 42:56
  have this unique perspective about Bitcoin and why you think
• 42:58
  Bitcoin is the way. Yeah, so you might not.
• 43:05
  You know, a lot of people don't understand the world in this
• 43:07
  way, but it's once you understand that governments are
• 43:11
  a mafia and they're there for your protection, meaning that
• 43:16
  they're there to fleece you as much as they can without you
• 43:20
  organizing against them. And once you understand that
• 43:25
  that's the situation, the world, the Fiat world, gets a lot
• 43:30
  easier to understand. And again, they they have great
• 43:35
  marketing about, you know, it's for your best interest and it's
• 43:40
  for your protection, it's for your safety, which is true, but
• 43:43
  it's it's your safety against them not killing you, not some
• 43:47
  other mafia in another land. So if you just think of the
• 43:51
  world as just various different organized mafias, you know what
• 43:55
  are called national governments. The safety part is just them not
• 44:01
  killing you, not some other mafia.
• 44:03
  Each mafia is only concerned about its own peasants that it
• 44:06
  rules over. And I can speak on this because
• 44:10
  I work for the the mafia in the sense that I make sure everybody
• 44:15
  pays their dues from a tax, corporate tax perspective.
• 44:20
  And so you know I deal with pretty large corporations and
• 44:25
  making sure that their international tax member dues
• 44:31
  are are are minimized but in a way that the the guys with the
• 44:35
  guns don't come and kill them. So I have that unique
• 44:39
  perspective where I have to, you know, I get to deal with very
• 44:43
  large businesses, globally recognized labels, very old
• 44:50
  money that manages these these organizations.
• 44:55
  You you would be really surprised about if you go and
• 44:58
  look at some name brand items at your grocery store or you know
• 45:02
  at a mall, they're they're all fairly tightly controlled by,
• 45:09
  you know, very wealthy old families.
• 45:12
  So. And they work hand in hand with
• 45:16
  the governments administering, you know, the rules that they
• 45:20
  set for the peasants. So it's hard to realize that
• 45:24
  that's the situation that in between there in between us
• 45:27
  peasants and these this old money is all the midwit
• 45:31
  administrators, basically the government, the politicians and
• 45:34
  the folks that, you know, parrot the blue or the red or the green
• 45:40
  nonsense. So that's effectively how the
• 45:43
  world works. And yeah, I just, I have a
• 45:47
  unique perspective there to see because if you talk to them,
• 45:51
  because I get, I get the opportunity to talk to some of
• 45:53
  these owners and they're they're buying Bitcoin.
• 45:58
  You know our firm is the the guys that own the firm, they're
• 46:02
  buying Bitcoin. They don't talk about it.
• 46:05
  They they asked me which wallet I should, you know, which wallet
• 46:08
  should I use, how should I, how can I do, how can I get a cold
• 46:12
  wallet working for myself? Should I use a treasure?
• 46:15
  Should I use a cold card? So these guys are, they
• 46:19
  understand what's going on and that also sort of helps me with
• 46:22
  my conviction and understand that it's already a done deal.
• 46:26
  It's just they they've, they've been spending the last, I don't
• 46:30
  know, four or five, six years, maybe longer, maybe since
• 46:32
  inception, just doing their normal normal programming and
• 46:36
  propaganda to make sure that peasants don't frontrun them.
• 46:39
  So really it's sort of our job here, at least in my, you know,
• 46:45
  again I do it self interested. The sooner everybody buys it,
• 46:48
  the better for me. I'd rather have us peasants buy
• 46:51
  it than than this old money because you know, again, they're
• 46:56
  not intelligent. It's not like they're more
• 46:58
  intelligent than us peasants. It's just that they they started
• 47:02
  with the billions of dollars in their bank accounts.
• 47:04
  We started with the billions of dollars of debt.
• 47:07
  So I mean, that's basically the difference.
• 47:10
  Love it, Zach. Absolutely love it.
• 47:12
  A true little Bitcoin revolutionary in my opinion.
• 47:15
  And then on this point, you said this in the beginning as well,
• 47:18
  and now that we gave the context of what your job is and and what
• 47:21
  you've seen coming from the belly of the beast, you say
• 47:24
  something all the time now that basically everything is just
• 47:27
  text messages. What do you mean by this, Zach?
• 47:29
  What is this? Every thing is text message
• 47:31
  mean. Yeah, this is.
• 47:34
  So from a technical perspective, Bitcoin is super interesting to
• 47:38
  me because I had no idea what modern money was.
• 47:42
  And Lynn Alden's new book Broken Money, I think goes into this.
• 47:47
  I haven't read it yet, but I've heard her talk about it.
• 47:49
  We've put some articles out on simply like automating banking
• 47:53
  that's trying to grasp what money actually is and what it
• 47:59
  is. What modern banking is, is it's
• 48:01
  just text messages. It's so insane that that's the
• 48:08
  case. That money is not actually
• 48:10
  something in a bank account. What it is, it's just a number
• 48:13
  on a Ledger at Chase or at Goldman, you know any of one of
• 48:17
  the member banks or the Fed. It's just numbers on their
• 48:21
  private ledgers. And you have annual audits once
• 48:26
  a year to sort of verify those numbers.
• 48:31
  But that's all it is. It's just sending text messages
• 48:33
  in a licensed, private, permissioned network.
• 48:41
  That's all it is. When you send a wire from one
• 48:43
  bank account to the other, it's just a text message.
• 48:45
  It's it's fucking a text message.
• 48:47
  It's it's bananas to understand it.
• 48:49
  Like once you realize that's all it is, then you can understand
• 48:52
  what Bitcoin is. It's just the exact same thing.
• 48:54
  It's a text messaging network, except it's it's a
• 48:57
  permissionless network and it's an uncensorable network.
• 49:01
  And so, but the only caveat is that in addition the innovation
• 49:05
  here is that those text messages are signed with a private number
• 49:13
  that is assigned the number of units that were previously
• 49:18
  mined, which there's a lot there, but those units are just
• 49:22
  assigned to random numbers that we create.
• 49:24
  And so Bitcoin is banking plus self custodial units, whereas
• 49:33
  modern banking is just again, text messages.
• 49:37
  But without the self custodial units there are no units.
• 49:40
  There's just numbers on a Ledger with Bitcoin text messages
• 49:46
  numbers on a Ledger, but there's self custodial units.
• 49:50
  And that's the key insight to Bitcoin is that there's actually
• 49:53
  these units that are just derived from large random
• 49:57
  numbers. So it's it's it's fascinating to
• 50:01
  me that modern money, modern banking is nothing but text
• 50:05
  messages. Like I still can't get over that
• 50:07
  that's the case. And we, you know, you're sending
• 50:09
  text messages back and forth to your friends, cat pictures or
• 50:13
  whatever the fuck you're sending to each other and that's all
• 50:17
  modern banking is. But they charge you a $35 fee
• 50:20
  and they will tell you to wait 48 hours to to send your cat
• 50:24
  picture money, which is just retarded.
• 50:27
  Bitcoin is the exact same thing. It's just that you're sending
• 50:29
  self custodial units based on some large random number.
• 50:33
  It's fucking bananas. And it's amazing.
• 50:36
  It's fucking awesome. I love it, Zach.
• 50:40
  I absolutely love it. Well, guys, Zach writes us
• 50:44
  incredible, incredible pieces. Rants all the time.
• 50:48
  And I I absolutely love this guy, he said.
• 50:51
  One of the funniest, funniest rants of all time.
• 50:54
  What year was it, like 2017, about mermaids and oceans and
• 50:58
  this stuff? I'm sure you can find it on the
• 50:59
  Twitterverse somewhere, but there's something you dropped in
• 51:02
  our slack. I think it was Monday or Sunday
• 51:05
  or something and this is the type of energy that I think more
• 51:08
  bitcoiners need. And This is why I absolutely
• 51:11
  love you Zach. And This is why I you're even
• 51:14
  though Mike to Mike chagrin out there.
• 51:16
  You're one of my favorite writers.
• 51:17
  Mike. I love you too.
• 51:18
  But you said something in our slack and you said I'm not
• 51:21
  stopping until the entire world understands how stupid it is to
• 51:24
  let other people hold your money and let other people spend your
• 51:27
  money. Can we talk about this?
• 51:28
  Because I put a tweet out the other day as well where it was
• 51:31
  something on the lines of it absolutely blows my mind that
• 51:35
  people think it is normal to give another person your life
• 51:38
  savings and hold that and and think this is the normal the
• 51:42
  normal status quo way and and normal behavior where it's to
• 51:46
  me, it's like it's your savings. You should be holding it
• 51:49
  yourself. Why give it to someone else like
• 51:51
  can we fix this? Is this just an inherent, I
• 51:54
  don't know blind side mind blind of humanity?
• 51:59
  No. It's so bitcoin's in the process
• 52:02
  of fixing this. I just wanted there was a good
• 52:05
  comment skip on down the road that the main difference is all
• 52:08
  the energy spent to create the units.
• 52:10
  Just a side note here folks, the creation of the units into 2140
• 52:15
  is just the initial startup. So you know between 2009 to 2140
• 52:20
  is the initial startup. Like we're early through 2140.
• 52:24
  While they're still creating these things, I mean, like you
• 52:28
  guys don't have any idea. It's amazing.
• 52:29
  Gold was around for 5000 years. It's really hard to
• 52:32
  conceptualize that amount of time between now and 2140 is
• 52:37
  like a blink of an eye. So if you can, you know, more or
• 52:41
  less we're going to be around for at least 5000 years on this
• 52:44
  system. So you're early through 2140.
• 52:48
  I mean that's just the fact of life.
• 52:50
  How does Bitcoin fix this personal responsibility?
• 52:53
  So because of its self custodial nature, the only owner of
• 52:57
  Bitcoin is the guide or gal that possesses it.
• 53:00
  So control is 100% determined through possession.
• 53:05
  So to the extent that you're using a custodian other than
• 53:08
  yourself, you're going to get rug pulled.
• 53:10
  It's not if, it's when and it's going to take, you know, maybe a
• 53:14
  couple generations for people to understand this, to constantly
• 53:18
  get rug pulled. It it's happened every cycle so
• 53:21
  far and it'll continue to happen until people understand it.
• 53:24
  Also until we get a little bit better tech developed, you know,
• 53:28
  so perhaps some multicig solutions that are not
• 53:32
  custodial, they're self custodial.
• 53:34
  I don't know how I'm going to leave that to the big brains to
• 53:36
  figure out. But it's the self custodial
• 53:39
  nature that fixes this problem of governance, which is we think
• 53:45
  about government as electing people to spend our money for us
• 53:49
  because they're smarter, which is retarded.
• 53:51
  So you don't know how better to spend somebody else's money
• 53:56
  because you don't. You're not them.
• 53:58
  So it's it's so simple and obvious to understand that only
• 54:02
  you know how best to spend your own money.
• 54:05
  It's just that we haven't had a money that we could self custody
• 54:08
  in the 1st place that we could then spend ourselves.
• 54:13
  That's all government is. That's what governance is as a
• 54:16
  species is. We're governing how we're
• 54:18
  spending our money and that dictates the things we buy, the
• 54:21
  things we build. So through the self custody
• 54:24
  nature of Bitcoin, that is the new governance system, it's just
• 54:28
  people aren't don't realize it yet.
• 54:30
  So self custody gets solved. We own our own money, and then
• 54:35
  we spend our own money on shit we want and we work and build
• 54:39
  shit we want and we create the world we want, sort of
• 54:43
  collectively, but self individually, self interested in
• 54:47
  a self-righteous sort of way. Which is all great and healthy.
• 54:52
  Like it aligns with religions. It aligns with your own obvious
• 54:56
  internal instincts. It's so obvious.
• 54:59
  It just takes a lot of work deprogramming your mind from the
• 55:03
  Fiat centralized system, which, you know, it's a shitty system.
• 55:09
  It's just we didn't have a technology that we could set off
• 55:11
  custody our own money and keep the supply fixed.
• 55:15
  Those are the keys. Too much sauce there.
• 55:19
  And that reminded me of something you said in the past
• 55:22
  and I'm probably going to butcher this, but what's that
• 55:24
  mean? Like possessions is 2/3 the law.
• 55:26
  And you, I think you said in one of our articles like possession
• 55:30
  isn't what like 9/10 of the law or whatever or like it's that
• 55:33
  that's the only thing that matters, he who controls the
• 55:36
  keys. Controls the money.
• 55:38
  And it goes back to everything that we've been talking about on
• 55:40
  this show. He who controls the money supply
• 55:43
  control society. And here we are guys, and we
• 55:45
  have the solution. And it is Bitcoin.
• 55:48
  Yeah, no, exactly. Sure, there might be some
• 55:51
  governance governing between people.
• 55:54
  I mean, you know, I might be working with my neighbors and
• 55:57
  say, hey, we're going to fix this pothole in front of our Rd.
• 56:00
  But like, that's governance, if you will.
• 56:05
  So yeah, I'm just, I'm super bullish on Bitcoin because the
• 56:09
  incentives are aligned for everybody and it's just a
• 56:14
  beautiful thing, man. It's going to be a bumpy Rd.
• 56:18
  because the Fiat political world is a bumpy Rd. not because
• 56:22
  Bitcoin is, you know, the the price is really a reflection of
• 56:26
  Fiat insanity because once you were in the a Bitcoin mindset,
• 56:30
  you're able to lengthen your your time horizon.
• 56:32
  So you're time preference lowers, you're more interested
• 56:36
  in building for the future as opposed to short term self
• 56:39
  gratification and that actually makes you a better, happier
• 56:42
  person and a more prosperous person.
• 56:44
  I think there was a guy, what the hell is his name?
• 56:47
  Alan B Watts, maybe on Bitcoin Twitter, he says.
• 56:51
  You know, you just focus on your craft stack sets and the rest
• 56:56
  resolves itself. Like through each of us doing
• 57:00
  that in a self interested way, we build the future that we see
• 57:04
  and we want through spending the stats how we want and through
• 57:08
  earning the money how we want. So it's a beautiful thing, man.
• 57:13
  And at the end of the day, you're gonna be out in the
• 57:16
  ocean, you know, women with the sharks and the whales.
• 57:22
  Let's go, man. I think it's this point where
• 57:27
  you summed it up great, Zach, and it's one of those things
• 57:30
  where. Guys, you guys out there, I know
• 57:33
  as if you're a Bitcoin or if you're simply Bitcoin friend,
• 57:37
  person that watches this show all the time.
• 57:39
  You already know this. But if there's new people out
• 57:40
  there, like if you are tired of the world and you look out in
• 57:44
  the world and you you just don't like what you see, well, don't
• 57:49
  complain. Don't whine about it.
• 57:51
  Take your money into self custody.
• 57:53
  Saving Bitcoin. There is an alternative and it
• 57:56
  is. Taking back your money, it is.
• 57:58
  Joining all of us in this freedom fight, which is starting
• 58:02
  with the base layer, which is money.
• 58:04
  Anyway. Zach, I love you bro.
• 58:06
  I can't wait to get some more hot fire coming out of you on
• 58:09
  the sub stack, but it's the time of the show that is everyone's
• 58:12
  favorite portion, the meme review.
• 58:14
  Let's get into some memes, guys. The Daily Meme Review.
• 58:20
  Brought to you by Kaboom Racks. I get this question all the
• 58:23
  time. Nico, where should I buy Bitcoin
• 58:25
  miners? The answer is Kaboom racks.
• 58:27
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• 58:47
  All right guys, you already know the deal.
• 58:48
  This is the meme review where you guys send us memes either in
• 58:51
  our Telegram group T dot me simplybitcoin or tag me on
• 58:55
  Twitter at Simplybitcointv. Or you can tag me on my personal
• 58:59
  account at Optimist Fields. I will get your memes on the
• 59:03
  show again. You don't just have to tag your
• 59:05
  own memes. Tag your favorite memes and I
• 59:07
  will bring them on the show. This first one oh wait before I
• 59:11
  forget, tweets of the bullets, Memes of the artillery.
• 59:13
  As you can tell from today's show we do have an uphill battle
• 59:17
  of educating people. Of winning the hearts and minds
• 59:21
  of the masses. Because people just still don't
• 59:23
  know. And and you know, I've been
• 59:25
  saying for a while actually a little tidbit I've been saying
• 59:27
  for a while it seems like people know what the problem is but it
• 59:29
  but it's almost becoming clear that a lot of people are still
• 59:32
  have no. Effing idea what the problems
• 59:35
  are. So do your best to paint the
• 59:38
  picture of what is going on in the world, but also find ways to
• 59:42
  incept why they should get involved, why they should care.
• 59:45
  That's what it's all about. Again, someone said in the chat.
• 59:48
  Like. You don't convince people with
• 59:50
  logic. You convince them with the
• 59:52
  emotional please. So you know don't don't go
• 59:55
  fullshit coin narrative on them but you got to make people care.
• 59:58
  And as I always say people want to live a good life because this
• 1:00:01
  is all we're trying to do. People are just trying to make
• 1:00:03
  it by. And Bitcoin has helped me.
• 1:00:06
  It's helped Zach. It's helped Nico and sure it's
• 1:00:07
  helped multiples of you guys out there watching the show and it
• 1:00:10
  will help you too if you're new to the game.
• 1:00:13
  You just got to trust the blueprint man stack sat stay
• 1:00:16
  solvent. This is the way tweets of the
• 1:00:18
  bullets memes of the artillery. We are block by block taking
• 1:00:22
  over the world and it's just so beautiful to be a part of.
• 1:00:24
  Anyways, the 1st meme is by our boy Kim Gage and he goes.
• 1:00:28
  Amateur investors try to pick the bottom of the market before
• 1:00:31
  they buy. Professionals just buy Bitcoin
• 1:00:33
  and we got the classic Batman and Robin where Batman slapping
• 1:00:36
  Robin and Robin goes. I'm trying to pick the bottom of
• 1:00:39
  the market because I don't want to pay more than I have to and
• 1:00:42
  he gets slapped by Batman, he goes, you idiot.
• 1:00:44
  At this stage of Bitcoin's evolution, it's all the bottom.
• 1:00:48
  This is the way. And what's the classic trading
• 1:00:50
  meme? Time in the market, beats
• 1:00:52
  timing. The market guys just stack sats,
• 1:00:54
  continue to gain exposure to Bitcoin, continue to accumulate.
• 1:00:57
  This is the way the longer you earn Bitcoin the longer you will
• 1:01:01
  realize that I should have bought earlier.
• 1:01:03
  Anyways, this next meeting is by the BTC therapist and he goes
• 1:01:06
  not your keys, not your coins, hashtag BTC.
• 1:01:08
  And we got this picture of like Dorian Nakamoto on top of like
• 1:01:13
  Jesus giving us Bitcoin. He goes I gave you digital gold
• 1:01:16
  and you left it on the exchange. I gave you the hardest money
• 1:01:19
  possible and you leave it and someone else's custody.
• 1:01:23
  What is wrong with you? Take it into self custody.
• 1:01:26
  This is the way not your keys not your coin.
• 1:01:29
  This next one is by my boy. Beef or bacon one and he goes,
• 1:01:32
  let's do this right the first time and it's a classic play on
• 1:01:35
  the Drake meme, the Hotline Bling Drake meme And he goes, no
• 1:01:39
  offer discount when customers use Bitcoin.
• 1:01:42
  No this is not the way, but the way is offer price increases
• 1:01:45
  when customer uses Fiat. I absolutely love this.
• 1:01:49
  I I think this might be the way guys.
• 1:01:51
  I I think this is the way how you incentivize Bitcoin use is.
• 1:01:54
  Hey you want to pay in Fiat? Fine, it's going to cost you
• 1:01:57
  more. Choose your battles.
• 1:02:00
  Anyways, this next one is by Ropeium aka Rope Maxi Club
• 1:02:03
  Member and he goes. This is a play on the Matrix
• 1:02:06
  meme where Neo wakes up and Morpheus tells them you know you
• 1:02:11
  never use your eyes. Well we have a laser eyed
• 1:02:13
  bitcoiner MPC Bitcoiner here that turns into Pepe the Frog.
• 1:02:18
  Bitcoin it goes, why do my eyes hurt?
• 1:02:20
  And Morpheus the frog goes because you have never used them
• 1:02:23
  before. Yes, your eyes may hurt when
• 1:02:26
  your laser eyes come on because you see the world in a new way,
• 1:02:30
  and it may disappoint you. You may get angry and you may
• 1:02:35
  not understand what is going on in the world until you take the
• 1:02:38
  blinders off and you become a Bitcoin.
• 1:02:39
  Anyways, this next one is by Big Sean Harrison goes those blinded
• 1:02:42
  by their own perspective cannot see the bigger picture of
• 1:02:45
  Bitcoin. And we got the classic story
• 1:02:47
  here of you know a couple blind people touching an elephant and
• 1:02:51
  they're all describing it differently.
• 1:02:52
  Well, the elephant is Bitcoin and then we have a bunch of
• 1:02:55
  different blind men here. We have Dr. Chainers and he
• 1:02:58
  goes, it's the tech bro and he's touching the tail and we have
• 1:03:01
  Keynesian and it goes, it's a Ponzi and he's touching the
• 1:03:04
  belly and we have the venture capitalist goes it's my pet
• 1:03:07
  project and he's heading the ears.
• 1:03:09
  And then we have journalists touching the leg and it goes
• 1:03:11
  it's dead and we have financial advisors touching the snout and
• 1:03:15
  it goes it's a stock and then we have the traders touching the
• 1:03:18
  horns and saying it's to make me rich Guys, everyone will have
• 1:03:22
  their own perspective on Bitcoin.
• 1:03:23
  It is hard money and you know, hey, you can use money however
• 1:03:27
  you want, but I know what I'm going to do with my hard money.
• 1:03:29
  I'm going to stack as many sets as possible and stay solvent.
• 1:03:34
  This is the way. OK, This next one and last meme
• 1:03:37
  for today is by Alan Farrington aka Allen F32 on Twitter.
• 1:03:42
  And it's a classic bell curve meme.
• 1:03:43
  Guys, you already know I love the bell curve memes because
• 1:03:46
  it's a it's probably the most fitting meme in Bitcoin.
• 1:03:49
  Anyways, we have the left side, our left Bell IQ members, which
• 1:03:54
  is basically me over here and it goes, Bitcoin is money.
• 1:03:57
  And then we have the right side of the belt cutter, which is
• 1:03:59
  basically Zach over there. Bitcoin is money and then we
• 1:04:01
  have all the midwits in the middle that go something like
• 1:04:04
  this. The issue for Bitcoin isn't the
• 1:04:06
  technology, but it's adoption. To be perfectly clear, it's not
• 1:04:10
  money other than in limited circles to become money, it must
• 1:04:13
  be adopted semi universally as a medium of exchange by people and
• 1:04:16
  their everyday transaction, both buyers and sellers.
• 1:04:19
  No, it's money. It's money today.
• 1:04:21
  It's money in 2009. It's going to be money in 2140
• 1:04:24
  and beyond. This is the way, guys.
• 1:04:27
  It's money. Saving it, transacting it,
• 1:04:29
  storing it. Whatever you want to do with
• 1:04:31
  your money. It's up to you.
• 1:04:33
  It's your money after all. But it is money, boys and girls.
• 1:04:36
  So anyways, drop your main review score in the chat over
• 1:04:39
  Yonder and we will do hours live.
• 1:04:41
  Mine is. I might have done one of these
• 1:04:44
  before, but it's a new one guys. So this is the Mofi, you know,
• 1:04:51
  smartphone chargers that you just put it on there so it keeps
• 1:04:54
  charging. This is how I keep the spaces
• 1:04:57
  running for you guys for 8 hours a day.
• 1:04:59
  You need one of these if you want to do that.
• 1:05:02
  OK. Anyways, Zach, what is your meme
• 1:05:04
  review score for today? For today, my meme score is Use
• 1:05:09
  your brain boys and girls. Think for yourselves.
• 1:05:14
  Stack sets. Bitcoin possession control is 10
• 1:05:18
  tenths the law. Let's go.
• 1:05:24
  All right guys. Before I get to the scores
• 1:05:27
  though, hit the QR code right here.
• 1:05:29
  I'm not wearing the merch today because my my orange hoodie is
• 1:05:32
  too bright for my camera and it and it gives this weird aura.
• 1:05:36
  But go to simplybitcoin.com, get some merch.
• 1:05:38
  We have shirts. We have hoodie shouts out to
• 1:05:40
  everyone supporting us. Again.
• 1:05:42
  I've told you this before and I'm I'm still getting trolled
• 1:05:45
  for it. We will get you guys hat soon.
• 1:05:47
  We will get some new merch. We are going to do some labs
• 1:05:50
  with Bitcoin artists so we get some some limited drops of
• 1:05:54
  simply Bitcoin theme merch with Bitcoin artists.
• 1:05:57
  So if you want it, get it. I'm I'm sure we got wine on the
• 1:06:02
  job and he's only going to do limited drops.
• 1:06:04
  So when they're here, they're here and when they're gone, they
• 1:06:06
  are gone. Anyways, guys, let's get to some
• 1:06:09
  of these meme review stores. First and foremost, let's see,
• 1:06:12
  we got Hammerson. He goes, I geef these memes.
• 1:06:17
  A golden toilet. Okay.
• 1:06:19
  Let's go. Uh, we got Keefy Boy.
• 1:06:22
  I sorry, guys. Let me.
• 1:06:24
  I might have to. OK, I give the memes a score of
• 1:06:26
  the hard launch of the Simply Bitcoin Merch Store.
• 1:06:29
  Yeah, we're hot. We've hard launched it.
• 1:06:31
  Scan the QR code. It's hard launched.
• 1:06:34
  OK. Hard take off.
• 1:06:37
  Oh my goodness. OK, Elaine, score inflation is
• 1:06:42
  the enlightening factor for financial self-interest and
• 1:06:44
  there will be no escaping the Bitcoin takeover.
• 1:06:47
  Thank the Fed. This is the way.
• 1:06:51
  Bars. Yeah, bars.
• 1:06:53
  OK, Phil. See, I give these memes eight
• 1:06:55
  more months at the crab market. Oh, oh, yeah.
• 1:06:57
  All right, let's see. Let me see.
• 1:06:59
  I'll actually, I'll pull that out before the end of the show.
• 1:07:02
  I did do a poll in the YouTube chat for you guys.
• 1:07:05
  Opti's oh, face. Score a landing ship on Opti's
• 1:07:09
  chin to go with the mustache. Oh, man.
• 1:07:12
  Y'all trolling me, Dude, I just didn't shave.
• 1:07:14
  I can't grow a mustache. All right, stop making fun of
• 1:07:17
  me. Stop bullying me.
• 1:07:18
  All right, now, Kim Gage. I scored those memes.
• 1:07:21
  Shrinking mole. It gets smaller because of
• 1:07:24
  intermittent fasting. Hooray.
• 1:07:26
  OK. Interesting.
• 1:07:28
  Interesting. Let's go, John Plebb.
• 1:07:30
  I give these means for unused personal flotation devices from
• 1:07:33
  the Titan submersible. Oh, man.
• 1:07:37
  OK, Andrew C, We'll got a few more.
• 1:07:40
  Score. The silent revolution.
• 1:07:42
  Yes, this is the way Big Sean Harris.
• 1:07:45
  I gave those memes 8% Turkish inflation in 2016 and 60% in
• 1:07:51
  2022. Oof.
• 1:07:53
  Absolute. Oof.
• 1:07:54
  OK, last one UTXO goes. I give the meme some Soylent
• 1:08:01
  Green. Oof.
• 1:08:03
  If you know, you know. OK, guys.
• 1:08:05
  Before I end though, I do want to bring up this poll.
• 1:08:08
  Let's see. Let's see the community
• 1:08:10
  consensus over here on the YouTube video.
• 1:08:14
  I asked are we going to be in a crab market for the rest of the
• 1:08:17
  year? And 61% said yes and 39% said
• 1:08:22
  no. So is this.
• 1:08:26
  Oh, I might have skipped 1 Robert, I I don't know where it
• 1:08:28
  went. Maybe it got maybe it got
• 1:08:31
  filtered. Anyways, Anyways, sorry bro,
• 1:08:33
  we'll we'll get you next week. Anyways, Zach, absolutely
• 1:08:36
  appreciate and love you and thank you for coming on.
• 1:08:40
  What do you want the people to like?
• 1:08:42
  Where you at? What are you working on working
• 1:08:44
  on nowadays? So I'm putting out articles on
• 1:08:49
  Simply Bitcoin Unfiltered and check that out.
• 1:08:54
  I'm on Twitter, but I don't really want any more followers
• 1:08:59
  and I'm trying to stay off Twitter.
• 1:09:03
  That stupid like dopamine. It's just it's a bitch to deal
• 1:09:07
  with. So.
• 1:09:09
  Yeah, go to something Bitcoin unfiltered.
• 1:09:11
  Check out our stuff. Love to hear comments from
• 1:09:13
  everybody. Like stuff you don't agree with
• 1:09:15
  is better than stuff that you do agree with because it helps me
• 1:09:18
  think. Like maybe I fucked something up
• 1:09:20
  and got to rethink it. But anyways, love you brother.
• 1:09:23
  Bitcoin's going to win. Let's fucking go.
• 1:09:27
  Let's go. All right.
• 1:09:28
  Appreciate it, Zach. All right, boys and girls.
• 1:09:30
  Girls and boys, we love you guys.
• 1:09:32
  Thank you for watching. If you like the show, like
• 1:09:35
  subscribe, share, that's all that matters, is spreading the
• 1:09:39
  signal and we will be back tomorrow.
• 1:09:41
  Come join us on Twitter Spaces. We are live right now till 2:00
• 1:09:44
  PM Eastern Time. Until then, this is your boy
• 1:09:46
  Opti and we are out. OK, what's up everyone?
• 1:10:00
  We are back in the Twitter Spaces.
• 1:10:03
  Forgive me for the dead air, I I legitimately forgot that I was
• 1:10:07
  still on spaces for a moment, even though I told everyone we
• 1:10:10
  are still on Twitter spaces. Anyways, as you know, we go live
• 1:10:15
  until 2:00 PM Eastern Time. This is a Bitcoin space by
• 1:10:17
  Bitcoiners for Bitcoiners. So come up here, let's talk
• 1:10:19
  about Bitcoin. Honestly, we can talk about
• 1:10:22
  anything right now it's all about just the Bitcoin
• 1:10:24
  conversation with bitcoiners. So love you guys.
• 1:10:28
  Really.