Latest / Simply Bitcoin / WHERE IS THE BITCOIN BOTTOM?! | EP 622

Transcript

WHERE IS THE BITCOIN BOTTOM?! | EP 622 · Simply Bitcoin

0:17
Yo, welcome is simply Bitcoin live today is November 21st
0:22
2022, we cover breaking news culture.
0:25
Me Matic Warfare, we will be your guide through the
0:27
separation of money and state. Total total shit.
0:32
Coin capitulation, man, the contagion is real potentially,
0:39
Barry. Silbert thing might be in
0:43
trouble. Supposedly, it's not coinbase.
0:46
Came out with a releasing that they're totally backed.
0:50
It's also affecting some Bitcoin companies as well.
0:52
Unfortunately, this bear Market is brutal.
0:56
However, big, however, if you have been taking the advice of
1:00
bitcoiners from day one, if you've just been staying humble
1:04
stacking SATs, none of this has, none of this would really affect
1:09
you. In fact, wherever the Bitcoin
1:11
bottom is, and no one really knows as much as You know, as
1:15
much as people love the the TA and stuff cheaper SATs for you,
1:21
a good opportunity, right? So I think that's the whole
1:25
essence of today's show. We're gonna get to it.
1:26
We're going to get through all the receipts, but before we
1:28
start the awesome show, I want to give a shout-out to my
1:31
awesome co-host. How you doing Opti?
1:33
Well, what's up? Nico, good morning.
1:36
Good morning to everyone out there.
1:38
Yeah, you know, it's been a pretty brutal bear market so far
1:42
and this on on bitcoin Twitter land and we said it last week
1:53
man you know we have still yet to seeing all the bodies float
1:57
down the river but you know as a big corner just don't sell your
2:01
Bitcoin and there's no loss you know you get cheap sads put
2:04
Bitcoin in cold storage and go and live your life and Bitcoin
2:07
will be here when you need it. So hey nothing's changed to the
2:12
Bitcoin view you know the bitcoiners out there.
2:15
You actually spreading that signal and just just doing
2:18
Bitcoin things right now. You know?
2:19
Everyone's just watching on the sidelines, all the fireworks.
2:22
Oh hey, it's awesome to be a big Corner.
2:25
Glad to be in another bear Market.
2:28
Just hey man, if you can't laugh right now, you'd be crying.
2:31
So hey stay up people, stay up and of course I want to
2:35
introduce my awesome guest. How you doing on the dais?
2:38
Welcome to the show final guys, follow Venezuela.
2:41
And finally made it, this guy's a bit of a diva.
2:43
He's hot. To get ahold of.
2:45
Yeah, we're gonna get rug pulled again.
2:48
No, no. Can you guys hear me?
2:49
Yes, we can hear you perfectly. You're coming in loud and clear.
2:53
Anyways, ladies and gents. Let's start the show.
2:56
Let's let's hit the numbers. Let's do it.
3:00
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Visit nottle, Dottie you today. All right guys, at the time of
3:28
recording, the Bitcoin price is Seen thousand 34 sets per
3:32
dollar, we're at 6237 block height, we're at seven hundred
3:37
sixty four thousand one hundred fifty eight reachable.
3:41
I mean blocks of The Happening we're at 70 5842 that they could
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not come any sooner sooner having estimate its April 22nd
3:51
2024 total lightning network capacity, 5,000, 38 capacity
3:56
value were at 80 point seven million U.s. dollars realized
4:01
monetary inflation 1.77 percent, the market capitalization of
4:05
Bitcoin. Wow, it is so small.
4:07
As a great opportunity we're at three hundred and seven billion
4:11
dollars. Anyways I have a throwback for
4:13
you guys because sometimes when you're in the thick of things
4:19
you kind of you kind of get lost, you get lost in the sauce,
4:23
right? You're like, oh, this is
4:24
terrible, this is this is atrocious, right?
4:27
But you if you look back and be Point history, right?
4:31
We've been here before. We've been here before many,
4:34
many, many, many times. And if you just huddled, Don't
4:38
Stop Believing which would our friend.
4:40
Yellow always says, you'll be. Alright, anyways, check this
4:45
out. This is a throwback, from when
4:47
Mount gox collapsed or anyone who doesn't know Mount gox was
4:51
the one the exchange back in the day, back in the 2013 2012 era
4:57
and very similar to FTX It collide it collapse, it rug
5:01
pulled everyone, they're still going to bankruptcy.
5:03
People are still trying to get their money back, not really
5:08
right. And but the same lesson was
5:11
taught, right? Not your keys, not your Bitcoin,
5:15
right? So again, history's repeating
5:17
itself but hopefully every single time one of these ways,
5:20
one of these adoption waves happen, right?
5:23
More and more people burn their finger on the stove so to speak
5:27
and they learn right. Takes Self custody of your
5:30
Bitcoin. And that's exactly what you're
5:32
seeing nowadays. With the huge, outflows going
5:36
out of exchanges. Anyways, I want to play you guys
5:38
this clip and then we'll talk about it, more about Bitcoin and
5:41
here we go. Bitcoin in the news this week it
5:44
could be the future of currency but the high-profile collapse of
5:48
a Bitcoin business. Has some people wondering if
5:50
it's already dead, that one business in Durham is committing
5:53
to new currency and Brian Schrader explains.
5:55
What it is and why Bitcoin users say the future is bright.
6:02
Alex Wachowski is trying to buy a biscuit from Rise Bakery in
6:05
Durham but he's not using dollars dollar.
6:08
Okay, with Bitcoin, rise started accepting Bitcoins as payment
6:13
last week. Bitcoin is a virtual currency.
6:16
You use your smartphone tablet, or computer to spend it, no
6:20
Central Bank issues at no government, regulates it and
6:23
proponents like Jameson Locke, say that's why it's great.
6:26
People say Bitcoins have value and they then transfer them
6:29
amongst each other and and for other goods and services rise
6:33
owner, Tom Ferguson likes, the idea, he's tired of paying
6:36
credit card fees to Banks. We just recently raised their
6:39
minimum wage here to 1010 an hour.
6:41
So to help compensate that if we can lower what we're paying in
6:44
theese is when the value of a Bitcoin has been volatile, a
6:48
Bitcoin was worth more than eleven hundred dollars in
6:51
December. Now it's worth about half as
6:53
much and this week a major Bitcoin exchange named Mount
6:57
gox. Went under hundreds of millions
6:59
of dollars worth of Bitcoins are missing.
7:01
And the people who held them have no recourse lab says this
7:05
story is more about Mountain Ox as a company.
7:07
Then Bitcoin as a currency, we're basically letting this
7:11
incompetent company fail and better companies are going to
7:16
replace. It Ferguson told me he's doing
7:18
his part to keep the currency alive and thriving and he hopes
7:22
it convinces people to fill their phones with Bitcoins,
7:25
Brian Trader, WRAL News, Durham. So for audio listeners.
7:31
Who Didn't get to see the visual cue.
7:34
When they said Bitcoins price collapsed, it went from 1,000
7:38
down to five hundred and fifty dollars.
7:40
That's right. That's right.
7:41
You heard that correctly. So the moral of the story here,
7:45
right? And I think Jameson Locke, first
7:46
of all, it's crazy how that Bitcoin has this effect where
7:50
the longer you're in Bitcoin? The longer your beard grows.
7:53
It's like this like weird thing, right?
7:55
But yeah, it absolutely spot-on. And the reason I wanted to show
7:59
you guys that throwback video You gotta zoom out sometime to
8:04
get a sense of where you are, right?
8:06
We're sitting at even with Bitcoin being down what 75% to
8:12
80% from all-time high. We're sitting at 16,000 56.
8:16
When that video was recorded, there were complaining about how
8:19
Bitcoin went from a thousand dollars down to 500.
8:23
I think the all-time low of that era was around $300, right?
8:27
So zoom out, you're going to be looking back on this two, three,
8:31
four years. As from now if you stay humble
8:33
Stacks at stay away from Leverage stay away from the shit
8:36
coin casino the gambling, right? And you're going to be happy.
8:40
You did man. So it's good to take a look at
8:45
those throwback sometimes to get a sense of where you are
8:48
exactly, but I've never been so bullish to a Bitcoin, hash rate
8:52
continues to make an all-time high, all these shit coin
8:55
exchanges. All that Leverage is being
8:57
fleshed out nature is healing and that's a good thing anyway.
9:02
Opti what are your thoughts? And then we'll move on to on the
9:03
this. Well first and foremost just
9:06
like the quality of that video it makes it seem like it's so
9:10
long ago you know like it's all grainy.
9:12
It kind of reminded me of those those videos you see about like
9:17
like Legacy Media talking about the internet and they're like so
9:20
confused about the internet and they don't know what's going on.
9:23
But then to another point, you know, lob with no beard that,
9:25
you know, this is a long time ago.
9:27
So amazing to see that video and it's literally The same
9:32
narrative that we are all talking about.
9:34
Nine years later, we're saying basically the same thing.
9:36
Like this has nothing to do with Bitcoin this is just about a
9:39
shady company doing nefarious things but even to that point I
9:43
man like Eleven Hundred Dollar Bitcoin. 500 dollar Bitcoin
9:47
amazing you know I wish we had a time machine to go back there
9:50
and stack them sets. I wish I got into Bitcoin that
9:54
early but another point like I think this year's all the all
10:00
the contagion in all the blow ups we've This year, I think
10:03
it's going to be very similar to the the mt.gox amount gox Saga,
10:07
where it's like, this is going to be drawn out for so long that
10:09
we're going to definitely be talking about this, the next
10:12
bear cycle or even the next cycle after that.
10:14
So, you know, people will only learn by putting their hands on
10:18
the stove and people need to make these mistakes.
10:21
Like we said it before, you know, when you get into Bitcoin,
10:25
there's a cost of tuition and sometimes people pay a lot more
10:29
than others. And sometimes people are wise,
10:31
and They learn from other people's mistakes so hopefully
10:34
people will learn from this mistake and not wreck
10:37
themselves, but like you said Bitcoin, in my opinion has never
10:41
been safer. It's never been the risk to
10:43
reward. Ratio has never been better,
10:46
like Bitcoin doesn't have that that uncertainty that happened
10:50
when when gox blew up like now it's yeah, I don't think anyone
10:55
saying like, oh, Bitcoin is dead.
10:56
Seriously, there's only, you know, the Bitcoin Skeptics that
10:59
are saying that now is just like, all right, you know,
11:01
Bitcoins going to chug Long and it's just going to take a few
11:04
years for us to hit all-time high again.
11:05
No one's like really concerned about Bitcoin dying.
11:08
It's just like, yeah, we know that this is the case that there
11:11
Shady companies doing shady shit and so you know, just stack
11:14
Bitcoin and keep in cold storage and go live your life and
11:17
provide the value and saving Bitcoin.
11:19
Amen to that. I think you you really hit the
11:21
nail on the head bro which is you know the first time this
11:26
happened with Mount gox, it's never happened before.
11:28
So think about how much scarier that was back back.
11:31
Then if you've been here a minute and you understand, you
11:35
know, the industry you've been you, you've seen this happen
11:38
over and over and over and over again.
11:41
And once again, history is repeating itself but this time
11:44
the headlines are a lot bigger a lot bigger because it's huge,
11:48
public mining companies like core scientific.
11:50
It's these massive exchanges that, you know, are getting
11:54
involved with political parties. And I'm talking about ft x and
11:58
SPF, right? So the, this is magnified.
12:02
But what is actually happening, if you look out on a very, you
12:05
know, basic level its history repeating itself once again,
12:09
right. It's an unethical exchange is a
12:11
centralized exchange. You shouldn't rely on a
12:14
third-party to store your Bitcoin, stop.
12:16
Don't trust minimize that trust and the same thing happened,
12:20
right? So we're going to be looking
12:22
back and these moments and we're going to be playing you.
12:24
The clips of the 2022, newscast and the 2022 headlines.
12:30
We're going to be playing you those clips?
12:31
Five years from now and we're going to be telling you exactly
12:34
the same thing, right? So it's really interesting how
12:37
all this is happening. But guys, you have to protect
12:39
yourself, definitely, if you haven't already done.
12:42
So take your Bitcoin into self custody, don't trust these
12:46
exchanges. You don't know how far this
12:48
contagion is going. We're going to get into a little
12:50
bit more of the details about that during the new section.
12:53
But anyways, I want to get on dresses.
12:54
Trots and dress, isn't this crazy, man?
12:57
These throwback videos, bro. There they give you a sense of
13:00
where you are, If they're in saying that, and I was just
13:04
looking at the like during a bear Market that started, you
13:08
know, from the precipitated from the mount talk situation, I
13:12
don't want to be ultra bearish, are there should be something
13:14
that like, you know, everybody that's stacking is looking
13:16
forward to the price, like, ultimately fell from that
13:20
moment, 366 all the way down to $150.
13:24
So it still went down 61 percent after that, hold the back the
13:28
Buckle. So if you're stacking stats
13:31
guys, I I sold everything in my house.
13:33
If you guys hear an echo is because it's empty.
13:35
I got rid of everything, my chair, everything like I only
13:38
kept my cat and like, my computer.
13:42
That's all I need. I'm going all in and again.
13:45
Yeah, self custody. Like that's a it's a lesson
13:48
that's going to. A lot of people are going to
13:49
have to keep learning and it's just a sign that we're still so
13:53
early in a bit Point been like like in that in that record the
13:57
guy was saying like hopefully they were interviewing someone
14:00
at that was pain and he's like hope.
14:02
That there will be like better exchanges in the future and no
14:06
like you can't you can't trust like I mean like look Mount
14:09
dachshund out FDX. What's going to happen in the
14:11
future there's going to be another Exchange in there going
14:13
to be this time guys who you should trust us.
14:16
Like it's interesting because the Bitcoin only exchanges are
14:19
doing just fine. It's really the exchanges that
14:22
dabble in shit coins and they get shit results.
14:25
And I just want to pull this up to give you guys like a, you
14:28
know, an idea for your audio listeners.
14:30
I'll try to describe Hi bit. This is coin market cap and
14:34
let's go back in time where they're describing that and it's
14:38
yes you see that little tiny blip, that's what it was.
14:42
That's what they were talking about.
14:43
That was the fall. This is where we are today, and
14:45
that just makes that basically disappear, right?
14:50
So, yeah, man, it's absolutely crazy when in doubt zoom out and
14:53
remember our friend, yellow says it all the time.
14:58
Don't Stop Believing. Amen to that.
15:03
All right everybody, let's get to the news.
15:06
Let's do it. The Daily News brought to you by
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A bit box today. Awesome.
15:33
All right everybody, let's get into more contagion news.
15:37
Oh yeah, let's check it out. So, first of all, let's, let's
15:44
go down the timeline, shall we? First?
15:47
Let's check out, let's, let's take a look at Barry silbert,
15:50
okay? So, Barry silbert is the founder
15:53
of DC G, digital currency group, and that's the parent of the Oh,
15:58
a scale. Trust that holds.
16:00
I think it's like 600,000 Bitcoin now.
16:02
What's interesting about his Twitter account is he hasn't
16:04
tweeted like five days so that's usually not a good idea.
16:08
The last retweet was safe security and transparency,
16:13
right, but what happened to digital currency group?
16:17
Let's check it out. Of course, they were involved in
16:19
Genesis and Genesis was involved in the FTX debacle.
16:23
I think the last time I read they had an exposure of 1
16:27
billion. U.s. dollars of the equivalent
16:29
to that. Anyways, Dia and the
16:31
announcement says today Genesis Global Capital Genesis trading
16:34
lending, business made the difficult decision to
16:36
temporarily suspend redemptions and the new loan originations.
16:40
This decision was made in response to the extreme Market
16:43
dislocation and loss of Industry.
16:45
Confidence caused by the FTX implosion, the impact lies with
16:48
the lending business at Genesis and does not affect Genesis
16:51
trading or custody business, importantly, the temporary
16:54
action has no impact on the business operations of of dcg
16:59
and an hour, other wholly owned subsidiaries.
17:02
And of course this, by the way, Jesse's trading was what Gemini
17:07
earned was using and that affected Gemini's well, but it
17:10
only it. And of this is coinbase, by the
17:13
way. And coinbase apparently
17:14
confirmed in this definitely cool things down a little bit.
17:18
That greyscale did have the assets under custody, and
17:22
apparently right now they have about six hundred and
17:25
thirty-five thousand 635 635 2235 Bitcoin so they have a crap
17:35
ton of Bitcoin under custody. If if I'm sorry, if if Barry
17:44
silbert, it's a man, I'm literally blanking on the name.
17:48
If gray scale, goes under, holy crap, you're going to get,
17:52
you're going to get very very cheap Bitcoin.
17:54
I heard from a third party. They did the calculations and if
17:57
grayscale does Go under, we're talking about an eight thousand
18:00
dollar Bitcoin. If you're staying, humble stack
18:02
and SAS this doesn't, it doesn't affect you.
18:05
You you can have the dry powder to get some some cheap
18:08
satoshi's. But of course this hasn't
18:10
happened yet but it's an interesting discussion.
18:13
It hasn't only affected shit Coin Company.
18:17
So the Unchained and Bitcoin magazine have had some layoffs.
18:21
Apparently Unchained stopped issuing Bitcoin back loans, from
18:26
my understanding from people that I've spoken Into they're
18:29
looking at other other people to continue to facilitate those
18:34
Bitcoin back loans. Apparently this has nothing to
18:37
do with the FTX depaquel, it has to do with the fact that nobody
18:42
wants to lend money when the cost of the cost of here, let me
18:48
read you the exact thing. So I don't butcher, it we go.
18:56
Here we go. Nobody wants to lend us USD to
18:59
bitcoin. Hold a little hot Oilers when
19:01
they can get 5% Plus on t-bills. So, apparently, that's the
19:05
situation, Unchained Capital, they had to let go, some people,
19:09
some people that were working with them and also Bitcoin
19:12
magazine as well. Unfortunately, Bitcoin magazine
19:15
had to lay off 17 people and this goes back to some original
19:19
thought that I had to say this morning.
19:22
Good morning, survive with your stack intact, man.
19:25
So it's very, very bloody what's going on there.
19:28
But this presents an opportunity for, you know, for the humble
19:31
stackers to get your hands on some cheap Bitcoin.
19:35
And look guys, we've been Vindicated with the message that
19:38
we've been telling you guys for a very long time, right?
19:43
Literally buy Bitcoin and Bitcoin mine Bitcoin and send
19:47
that Bitcoin into self, custody, forget about it, you know, who's
19:51
to who, I have no idea where this contagion is going to go.
19:54
I have no. What other exchanges are going
19:56
to be affected? I have no idea what's going to
19:58
go under, right. But if you've been staying
20:01
humble stocking sides taking into Bitcoin into self custody,
20:04
this does not affect you. Stop trusting other third
20:08
parties and I'll tell you this guy's, I really believe that
20:12
Bitcoin could have hit that six-figure Mark last cycle if
20:16
there wasn't all that paper Bitcoin, that's the reality of
20:20
it unfortunately. Right.
20:21
And how do you stop that paper? Bitcoin?
20:23
More individuals, taking Bitcoin and To self custody, dude.
20:26
So holy crap. Guys, strapped in this is this
20:31
is my belief is going to get worse before it gets better and
20:38
it's going to be a hell of a ride, but I played you that
20:40
video in the very beginning to show you guys that we've been
20:44
here before. Right, that fall.
20:47
Remember 16 20K Bitcoin, seemed unfeasible back, then it seemed
20:51
impossible, but that fall from a thousand dollar Bitcoin to 300
20:56
dollar Bitcoin. I bet you that was just as scary
20:58
just as painful, the largest big biggest, biggest exchange at the
21:03
time. Mount gox disappeared went under
21:06
man. It's it's its history repeating
21:09
itself. We'll be laughing about this for
21:11
five years from now. But what you guys have to do is
21:14
you have to survive with as much as your stack intact.
21:18
Right meaning don't use leverage.
21:21
Take Bitcoin into self custody stay humble.
21:24
I'll tell you this guy's as well.
21:25
All right, as it relates to the title of the video, no one knows
21:28
where the bottom is. It can draw as many fancy lines
21:31
and and magical lines as possible.
21:34
Nobody has any freaking clue. Right?
21:37
But what I can tell you is it does not affect you.
21:40
If you're just staying humble Stacks, that's if you feel
21:43
insecure about what's going on. You got to learn more about
21:46
Bitcoin. You gotta bring, you gotta open
21:48
up those Bitcoin books. Remember the hash rate has never
21:51
been in an all-time high before we have institutional exposure
21:54
with black rock Have giant oil and gas companies getting into
21:58
Bitcoin. You have Exxon Mobil, you have,
22:02
you have shell right, announcing that they're going to be
22:05
sponsoring the Bitcoin magazine events, right?
22:08
You have gas problem, which is the national state owned owned
22:11
company and of course, you have to come countries, making
22:14
Bitcoin legal, tender, El, Salvador, and the Central
22:17
African Republic. None of those things were true
22:20
back in 2017 when the price of Bitcoin was at the same exact
22:25
price It's none of those things that I mentioned you were true.
22:27
We're true, right? So I don't know, maybe this is
22:31
just an Eco being very bullish, but in my opinion, I think it's
22:35
extremely undervalued right now and the reason it's being pushed
22:38
down so much is because all the Leverage is being flushed out of
22:42
the system. Anyways Opti, what are your
22:44
thoughts and then we'll move on to under this.
22:46
Well, first, let's start with like that coinbase news thing,
22:51
where they say, grayscale fund saw Foo, it was just like,
22:54
literally like trust us bro we good you know like signed them
22:57
transactions guys and and then and then you'll cause Last
23:03
concern on Twitter. But hey, it's not looking good
23:06
for for a lot of these trade funds out there and everyone's
23:11
freaking out about grayscale on Twitter.
23:14
So I mean like all that Bitcoin we will see like the mother of
23:19
all short squeezes. Once all this paper Bitcoin,
23:21
gets cleared out, and we finally realize how much Bitcoin is
23:26
actually being traded versus how much paper Bitcoin was being
23:29
traded. And we can, you know, eliminate
23:32
all the the price manipulations out there because the more paper
23:35
Bitcoin, the more, they're able to manipulate the price.
23:38
But it's like you said, you know, the CK quote comes to mind
23:41
guys, just make sure you get your meat sack over the Finish
23:44
Line, stay humble, don't over-leveraged yourself right
23:47
now. Is not the time to get over
23:49
leveraged. I know there's a lot of talk on
23:51
Twitter. People are wondering whether
23:53
they should take out loans right now, what they should do, but
23:56
hey, it's or sell your house. I think we all made the mistakes
24:02
at the top. I think now is the time to stay
24:04
humble guys, provide the value, you know, mine Fiat, mine
24:07
Bitcoin and then just saving Bitcoin, unplug, do whatever you
24:11
have to do so that you don't get caught up in the price movement,
24:15
because, you know, it's getting bloody men and, and some has hit
24:19
our blood right now. So, like it just it's just
24:22
Bitcoin bear Market things. But shout out to our friends at
24:25
Bitcoin mag and unchain that got like, you know, stay up guys,
24:28
it's bloody out here for everyone.
24:30
I wish you guys the best. And I just a testament to what
24:34
we've been saying Forever on the show guys.
24:36
It's just like stay humble Stacks out.
24:38
If we know if we really believe we're Bitcoin is going we don't
24:43
have to do all this crazy over-leveraged stuff.
24:45
We don't we don't have to get overly risky right now because
24:48
that's how you're going to get rekt.
24:49
You know. Like just make sure you have the
24:52
sets that you control. Now going into the future and
24:55
life will be good for us. All it's kind of back to like
24:58
how bullish are you really? Because don't wreck yourself.
25:02
Before we get to the Finish Line because you probably have enough
25:06
SATs. Now then then you might if
25:09
you're getting really risky out there so just continue to
25:11
provide value, save in Bitcoin, you know, up your skills, do
25:16
whatever you have to do so that you get more cash flow in right
25:18
now and build something guys, bear markets are for building.
25:22
And as Becca says, you know, I hope you guys are out there
25:25
because now is the time. Amen to that.
25:28
But yeah, dude, this is this is some crazy stuff guys.
25:32
All you got to do is survive, put that put that like put a
25:36
picture, get a block clock, right?
25:39
And the only setting you should have on the block clock as to
25:41
having date. All right, that you just gotta
25:43
get over that Finish Line, baby. That's all you got to do.
25:46
So just survive guys. This is what it is in 2023.
25:50
It looks also like a lot of people are anticipating a
25:52
recession, so it might also look bad in the economy as well.
25:56
Just survive with your sacks with as much of your SATs intact
26:00
as possible. Anyways Andreas what are your
26:02
It's bro, before we move on dude I just want to say Can you can
26:07
you guys hear me okay? Yeah I'm here like an okay.
26:10
You're so so I just want to say like Bitcoin works like the
26:14
protocol like it's just it's just doing its thing, right?
26:17
Tick-Tock next block. The problem.
26:21
It's when we introduce Fiat financials into Bitcoin like all
26:25
these exchanges have been just like they're just a carbon copy
26:28
of what's happened, like everything that's bad and
26:32
everything. Thing that we're trying to get
26:33
away from in the Fiat, it in a Bitcoin.
26:36
Like, you know, like the hash rates, at all-time high, like
26:39
there's notes being fired up every day more and more all over
26:43
the world. Lightning is just firing up,
26:46
like everything with that is self contained within Bitcoin
26:49
works. So, I have never liked seeing
26:52
the need personally, for all these like, other, like
26:55
exchanges and, and one of the biggest arguments that people
27:00
have for these exchanges. It's the the Self custody like
27:03
self custody is too difficult for people to do and to achieve
27:06
and I believe that's just its gas lighting like the I mean
27:10
these people want to make money and the customers are newbies or
27:13
you know people that aren't as technically Savvy as some of us.
27:16
But I feel like that's just nonsense and we need to like
27:19
really illustrate, that being a self sovereign individual
27:23
holding your own Keys. It's not that hard.
27:25
You know, it's not that scared and we man yeah that's just Fiat
27:30
2.0 on top of Bitcoin. And on top of like Hit points
27:33
like so we want to get away from that 100% And that's, you know,
27:36
and that's responsible for a lot of the things that are happening
27:39
right now. Are you even making argument
27:41
that's a responsible for Bitcoin not hitting six figures, right?
27:44
Is a lot of the Fiat you know the bhature E.
27:46
Right. And of course, it's not even
27:48
it's not regulated but again history is repeating itself over
27:51
and over again and because they're able to because it's,
27:55
you know, it they're using I hate using this word
27:58
cryptocurrencies, right? And it makes it difficult for
28:01
governments to The rules they implemented in the Fiat system
28:05
because in the Fiat system, they did the same thing until they
28:07
implemented the rules history once again is repeating itself
28:10
of the difference here though. Guys is Bitcoin Bitcoin is the
28:15
signal right for the first time in human history, you can
28:17
memorize 12 words in your mind and you can store millions
28:20
billions if not trillions of dollars in your mind
28:23
theoretically and you can send that anywhere around the world
28:26
and there's no third-party risk, right?
28:28
But people are not learning the lessons of the past and history
28:31
is repeating itself. Self.
28:33
It's unfortunate but anyways real quick I want to talk about
28:37
Bitcoin wallets it looks like JP Morgan is trying to remain
28:41
relevant. Check this out.
28:43
I could never have imagined this shoutout to bitcoin magazine.
28:48
They took a screenshot JPMorgan has trademarked a cryptocurrency
28:52
payment wallet Bitcoin. I mean.
28:55
So is it open source? Why are they patentee?
28:58
Why are they trade? Marking it?
29:00
Would you trust the j.p. Morgan?
29:02
It I wouldn't I would trust an open source wall and this is why
29:07
I want to talk about Jack dorsey's project, right blocks
29:10
new Bitcoin, wallet, aims to solve a huge problem, member and
29:14
self custody is a huge problem, because a lot of people would
29:17
under this was saying, don't have the technical know-how.
29:20
They they've spent way too much time in the Fiat Matrix and they
29:23
don't feel comfortable with this stuff.
29:25
So anyways, goes on to say block, just detailed plans for
29:28
itself custody Bitcoin Harbor while aiming to bring together
29:31
the the often Contradictory goals of convenience and crypto
29:35
security blocks goal is to monetize the wall at the re
29:37
Subscription Service. The plan laid out a blocks,
29:40
investor day aims to make it easier for mainstream
29:43
individuals to self custody their own Bitcoin.
29:45
Thus enabling total control of it, while offering additional
29:49
protections that are often, not available for self, custody
29:51
Hardware, softer, wallets. Many other wallets don't have
29:54
easy backup systems for consumers to access their funds
29:58
to do this. The wallet will include three
29:59
parts, a mobile app, a hardware, Device and a self-serve recovery
30:05
tool the mobile app which will presumably be run by block, will
30:08
be for everyday smaller transaction.
30:10
Since it's easier it since it's easily accessible for people at
30:13
all times, quote, our wallet breaks up the secret key into
30:17
three pieces, to reduce the stakes of losing.
30:19
Any one piece, the hardware wallet with its Rock design and
30:23
fingerprint access, which has been previously detailed will be
30:27
used for larger? Transactions were more security
30:29
is needed. The hardware, wallet will
30:31
presumably. Hold the As private Keys, which
30:33
are a user would set only for transactions above a certain
30:36
size. If the mole checking account the
30:39
hardware wallet is like a savings account.
30:41
Quote, we are designing a system for regular folks so it has to
30:45
be resilient and Inspire confidence even when things go
30:48
wrong and I think that is absolutely spot-on and check
30:51
this out. The hardware wallet will also be
30:53
a security to love someone loses a phone or switches to a new
30:57
phone and there's been an update which is why I wanted to cover
30:59
this today this came out about a week ago block Hardware wallet
31:03
will be manufactured by Flex in Austin, Texas.
31:07
So it looks like that project is moving along, and it makes me
31:10
very bullish because the self custody problem is definitely an
31:13
issue. Right.
31:14
There's, you know, the feta mints is potentially a solution
31:17
to that as well, but we must have more individuals, taking
31:22
self, custody, taking their Bitcoin into there and into
31:26
their own hands, so that things like ft x.
31:28
So that things like Mount gox. They could happen.
31:31
But the amount of victims is going to be a lot smaller
31:34
because the majority of people would have had their Bitcoin off
31:38
exchanges. Right?
31:39
So, awesome. Awesome project about the block.
31:42
Obviously, there's some security privacy implications there,
31:47
right? It looks like a lot of people
31:48
would be giving up a lot of privacy to that company.
31:52
Ideally, you know, you want to have either a bit box, a cold
31:56
card, a treasure and you want that wallet synced with your own
32:01
node. So though it so your As are
32:03
being doxxed, right? So you're you know, you don't
32:05
you want to minimize trust as much as possible.
32:08
But for the average, Joe for the person who's not technically
32:12
Savvy for the person who spent a lot of time in the Fiat Matrix
32:16
you know, self custody is better than nothing, right?
32:19
And if that means sacrificing, a little bit of privacy for
32:22
convenience. So be it.
32:24
I think it's just, it's a step in the right direction.
32:28
The reality is that not every single individual because I
32:31
think this is going to be a A generational learning
32:34
experience. Not every individual is
32:37
comfortable with self custody and that's just the reality of
32:40
it. I'm glad that block is working
32:42
on a solution. I'm glad that, you know, fed
32:44
immense is another solution as well, right?
32:47
So, I'm really excited to see more news about this project.
32:50
And if it actually, you know, accomplishes the goal, that it
32:53
sells that it sets out, which is individuals everyday
32:56
individuals, taking self, custody of their corn Opti,
33:00
what's good bro? Well, The roll it back a little
33:03
bit to the j.p. Morgan news at first, you know,
33:05
JP Morgan gets into crypto currency wallet, let's not
33:11
forget the JPMorgan owns, it's a substantial part of fed coin, I
33:15
mean, Yuri thiam coin, I meani theorem coin.
33:18
So like I mean again we say all the time on this show like this
33:23
may give give Bitcoin and shit coin.
33:25
Some sense of legitimacy to like the unsophisticated Bitcoin
33:29
investor out there, you know, like oh big companies are coming
33:32
into this. Space, you know, Mass adoption
33:34
and all this stuff. But I would not touch this
33:37
wallet with a 10-foot pole. I would stay away from this like
33:41
I'm going to tell everyone to stay away from this and less it
33:43
becomes like open source and it's actually a Bitcoin wallet
33:46
and not just like any Theory, mm wallet then.
33:49
I mean it it just it doesn't seem like big news to me.
33:53
But, hey, this, again, this shows to, you know, the average
33:57
person out there that there is more and more big companies and
34:00
institutions coming into Bitcoin.
34:01
So I can How this is, you know, bullish news for some people
34:05
especially since this is at the, you know what looks like almost
34:08
the bottom of a bear market. So of course it's it's
34:12
definitely, you know, just more data points to us bitcoiners
34:17
proving this, right? That like Bitcoin isn't dead and
34:21
then just to the Jack dorsey's wallet, or as someone DM does in
34:24
in the simply Bitcoin Twitter account the Bitcoin signing
34:28
device. I can't wait, I can't wait to
34:31
try it, you know, it looks. Interesting.
34:33
And I'm always open to trying new new signing devices and new
34:38
apps out there that are making my ux and my experience that
34:43
much easier. And and not only that but
34:45
helping new people get on board and have the best Bitcoin
34:48
practices right out the box. So, you know, I think this is
34:51
just further further Testament. Exactly people beating of
34:57
JPMorgan into shot for the proof that we are getting 2.
35:02
I know, I know I've been beating this this meme in people's head
35:05
but like apple finding all these products I know it's not the
35:08
best meme but we as developers I'm not a developer.
35:12
I think that you know an emphasis on making Bitcoin is
35:16
easy to use without sacrificing the Bitcoin principles that we
35:20
try to push every single day will definitely help more people
35:24
become bitcoiners and get on-boarded on the Bitcoin
35:26
standard. Absolutely.
35:28
And it did these comments are just the amount of music.
35:32
Yeah. Yeah, I got you so, mr.
35:33
Robot says no, it's to this to Alex Jones, you man Bushmaster
35:38
says, JP Bitcoin backdoor wallet Tucson.
35:41
Bitcoin says JPMorgan wallet is going to work with Central Bank,
35:44
digital currencies Z logic. This is true, this is not a
35:48
conspiracy theory. You could, you can verify this
35:50
yourself JB Morgan. They had the cruise ship full of
35:54
cocaine, right? So to be specific, there was a
35:57
container ship that JPMorgan owned and it was, it was seized.
36:01
It was caught with the Cocaine, of course, that's absolutely
36:04
hilarious. But, you know, it's the
36:06
open-source developers that are stuck in prison without without
36:11
bail. And people like SBF for running
36:13
free because they donated to the right political parties.
36:16
Anyways, Rave elevator says JP is making a Black Swan.
36:20
If you can't read the code or the wallet, it's not is not
36:23
Bitcoin only red flag. I absolutely agree.
36:26
It's weird. They trademark that to that kind
36:28
of goes against the whole open source movement.
36:31
I don't know about About you guys, but I'm not trusting that
36:34
JPMorgan wallet. Like hell no.
36:36
Hell no. Anyways, I'm today.
36:38
So what are your thoughts? And then we'll move to will move
36:41
to the culture. Bro, man we're trying to get
36:45
away from the bankers and the central Bankers like just know
36:48
like simply know like going to do it and I just thought of
36:52
Ross, ulbricht, look at what happened with SPF.
36:56
You brought him up on, and it brought Ross back into my mind.
36:58
I'm like, you know, all he did was to, like, provide a platform
37:01
for people to And he's rotting in jail.
37:04
Well, SPF has literally like scam like hundreds of billions
37:09
like we're not go. Sorry, hundreds of millions of
37:10
people and I and I guarantee you he's not going to go to jail,
37:15
like he's not and it just shows you that the corruption the
37:18
level of corruption. So, like we're literally
37:21
stepping outside of the that Fiat World guys, just don't do
37:26
it. Like, if you're thinking that
37:27
that's a good thing for Bitcoin, it is like nothing.
37:30
That is not open source. Don't do it.
37:32
And going back to the, to the Jack.
37:35
Dorsey wallet, I have brought this up a sip, a similar
37:38
concept, I brought up in one of the spaces where all the Maxis,
37:41
hang and they all of them were like, no, no, no, no way that
37:44
introduces, like, complexity, which, which can cause like, you
37:47
know, like vulnerabilities, like points of vulnerability, but I
37:52
still believe that we need technology that allows for
37:56
people to in some way, hold their own Keys, you know, and I
37:59
think that that's just a step in the right direction and, That
38:02
that's going to need to happen, you know?
38:04
And as long as it's open source I welcome it.
38:07
Amen to that absolutely bullish over around a bullish all over
38:11
man, the the continued investment in Bitcoin companies,
38:15
hash rate continues to go up nation-state adoption, you know,
38:20
institutional involvement as well.
38:22
All of these things paint a very bullish picture, right?
38:27
And if you focus on the actual fundamentals, they continue to
38:31
be stronger. Hey guys.
38:35
Back when Bitcoin, this is in 27 of those things that I just
38:41
said, we're there wasn't legal tender in a country was an
38:47
Institutional involvement either, you know, it's it's,
38:52
it's, it's definitely interesting.
38:53
Anyways, let's get to the culture, let's do it.
38:58
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39:57
talking about today, bro? Well well, well, well, we got
40:01
our boy on this in here and You guys hang out in the spaces, we
40:04
have this conversation all the time on Twitter spaces and we
40:08
had a, we had a perfect segue on the desk mention, the corruption
40:11
of the Fiat world and on this is also a Venezuelan like you Nica.
40:16
You know this, you guys are our in-house Venezuelans.
40:19
And you guys talk about this all the time on the spaces and for
40:22
you guys that aren't on the spaces, I just want to rehash
40:25
this, these conversations that we have all the time and first
40:28
and foremost maybe you guys can just give some context like what
40:32
Happened in Venezuela for those that don't know.
40:34
And are you seeing similar signs in the West in America, as you
40:37
saw in Venezuela? I don't know, I'm just maybe you
40:39
can start and Niko can jump in because we're seeing the signs
40:44
and the Nico and I jump up and talk about this all the time.
40:47
You know, the signs of the collectivist in the west right
40:49
now, are very terrifying and we talked about this almost daily
40:54
in our spaces. So I think this is something
40:56
that people need to hear. Because again, history doesn't
41:00
repeat, but it Rhymes and we are seeing Signs happening in real
41:03
time. So I'm just, you want to jump in
41:05
and then maybe Nico can add some subsets.
41:07
Let me, let me preface this. Let me preface this because it,
41:11
I don't like political conversations, but I'll preface
41:14
it. I'll preface it with this.
41:15
Guy's Bitcoin is about individualism.
41:18
It's about empowering the individual right and statist
41:23
right. Whether you know, they're come
41:24
from the traditional political laughter political, right?
41:28
It's all the same people misinterpret, they says, it's
41:31
the left, its the Right? No, no.
41:33
It's about individuals verse collectivist, right?
41:36
And collectivist. That includes fascism.
41:38
That includes socialism. That includes communism, right?
41:42
Bitcoin is about empowering individuals, right?
41:45
And this includes in countries that have fallen to Collective
41:49
his ideologies, right? You're hearing beautiful stories
41:53
of of Cubans for the first time being able to receive money from
41:57
overseas via Bitcoin without the government, taking a cut, right?
42:02
The Cuban government does is interesting.
42:04
If you want to send US dollars to Cuba the you the Cuban
42:07
government takes those dollars and then they hand you a peso
42:11
shit coin in return. Right now, all of a sudden, you
42:15
have a way to go around that. I also heard Amazing Stories in
42:19
Venezuela, as well as individuals were fleeing the
42:22
country and the only thing that they could take with them right
42:26
is Bitcoin. Because all they had to do is
42:28
just memorize a 12 word seed, phrase or just put it in a very
42:31
safe. Pot.
42:32
And, you know, the, the advantage of storing wealth is
42:37
in your favor, the balance of powers in your favor, right?
42:40
So yeah, the, the whole story of Venezuela is tragic.
42:44
It went down the collectivism path, but I think to tie this in
42:48
with Bitcoin to make it about Bitcoin, make this Bitcoin
42:50
Centric, right? I think Bitcoin has the
42:54
potential to fundamentally change.
42:55
The relationship between individuals and governments and
42:58
I think that governments are able to get away with a lot of
43:02
what they Get away with is because they control the money
43:05
supply. They, they have a money printer
43:07
that funds. This endless bureaucracy.
43:10
If we are successful in separating money and state,
43:13
which I think we will be, because I think incentives are
43:16
much stronger than coercion. We are ending this ability for
43:20
these tyrants to do this on everybody else.
43:23
But I think this revolution not only takes, you know, Bitcoins
43:27
incentives. It also takes individuals taking
43:29
personal responsibility. Any things like self custody,
43:33
right? And as, in the case of
43:35
Venezuela, man, if you learn how to take self custody, you
43:38
weren't being held hostage. So to speak, on this, on to
43:42
undress Antonopoulos, who's the original person who orange build
43:45
me, and I would just watch his lectures on repeat.
43:49
He said he's like, look if you actually want to effectuate
43:51
change in a country, it's not about invading or you know what
43:56
the US did with Iraq and just invaded Iraq and destroyed the
43:59
entire country. He said, he's like, just Drop
44:03
hundreds of thousands of Hardware Wallets on to the
44:06
people with instructions on how to take Bitcoin into self
44:09
custody, it's as simple as that. If enough people take self
44:12
custody, we win this peaceful Revolution.
44:14
There's absolutely nothing they can do about it.
44:17
Anyways, under this, what are your thoughts on all this, bro?
44:20
Man, I just want to say. So in Venezuela, obviously
44:23
there's been like a hyperinflationary period in the
44:26
past, recent in the recent years and, you know, something that
44:29
Venezuelans like understand really well is Is how the value
44:34
of a currency that's being controlled by a central agency
44:37
cat. It's how they're able to
44:40
manipulate it in Venezuela. Like obviously the inflation.
44:43
It's a little more complicated like the government ceased.
44:46
The means of production like every like private in the
44:50
industry, got like, either like scare out of the country or they
44:53
got like, expropriated by the government.
44:55
So, so all these companies failed and all of the products
45:00
that people needed like they became scarce, right?
45:02
So meanwhile, the government kept like printing money to fund
45:06
all of these collectivist like programs, right?
45:08
Like all these like, social programs.
45:10
So this is what triggered like the hyperinflationary period.
45:15
And so what people did what's like, they everybody like led to
45:19
the strongest currency, which is the dollar, right?
45:23
And now the dollars entering a period where we're going to see
45:26
like maybe not, hopefully not a hyperinflationary period.
45:30
So so people in And in countries like Venezuela, they understand
45:34
money because they have lived this process.
45:37
And so it's just like a no-brainer for Venezuelans to
45:40
jump on to bitcoin. You know, like that's it's a
45:43
no-brainer because it's the hardest money ever and my
45:46
sisters. For example, I orange bill and
45:48
it was super easy to do like, you know, like they have that
45:51
experience from Venezuela and I just told him listen nobody
45:54
controls this and the supply is limited and immediately there
45:57
were like oh wow that's incredible and so they're like
46:01
okay how do I save it? And so, people in these
46:04
countries already primed right for for the adoption, and I feel
46:08
that Bitcoin is it's so powerful that it can take away the power
46:14
from from, from all these like tyrannical regimes and men in
46:18
the US. Like people aren't going to like
46:21
adopted as quickly because we haven't suffered.
46:24
And I was talking to Brady Swenson from from from Swan at
46:30
the conference. And we both like came To the
46:32
same conclusion like the only way that we're going to get Mass
46:35
adoption in the west is through pain.
46:37
Sadly like when people started, you know like realizing that
46:40
their savings accounts or like just, you know, like melting ice
46:43
cubes, like their savings, like everything.
46:46
People need to experience these things like firsthand in order
46:51
in order to like be like, okay, I fully trust Bitcoin, I fully
46:55
trust like a money system. That's outside of what has
46:58
caused all of my life savings and energy to go to waste.
47:02
So Yeah, Venezuela. It's like a perfect example of
47:05
how the separation of money and state could it's incredibly
47:09
powerful. Like it's the next step to
47:12
shank, I'm free. It insulates.
47:14
The free market it insulates individuals, from the
47:18
government's ability to manipulate them through the
47:21
control of the money right there.
47:22
Also, the control of the money money supply and there's
47:25
something that you said there was very interesting, which I
47:27
completely fundamentally agree with, and I've tweeted this out
47:31
many many. Time's right.
47:33
I'm more bullish on developing countries adopting Bitcoin than
47:37
developed countries, right? Because unfortunately in
47:40
developed countries, there is convenience, there's decadence
47:43
right? There's this the bread and
47:45
circuses are strong the Netflix the Sunday football games.
47:49
Right. But if you live in a country
47:51
like Venezuela, if you live in a country, like Nigeria, if you
47:54
live in a country like Argentina that has double digit inflation,
47:58
you're adopting Bitcoin not for speculative reasons, which a lot
48:01
of people. In the west you're adopting
48:03
Bitcoin out of necessity, right? And necessity is a very, very
48:07
strong incentive and it's funny the, the Nigerian example is the
48:13
most beautiful, right where you know, the United Nations
48:16
released a report saying we must die' incentivize the adoption of
48:20
cryptocurrencies and developing countries.
48:22
We must Implement Central Bank digital currencies and that's
48:25
exactly what the Nigerian government did.
48:26
They try to launch their Central Bank?
48:28
Digital currency that e naira and it has E little adoption.
48:33
And you think about it's like, why is that like why is that the
48:36
case? Well, just because they launched
48:38
a central bank, digital currency that doesn't solve the
48:40
fundamental issue as to why people are opting out in the
48:43
first place. And they're opting out because
48:46
they don't want to deal with their currency being debased,
48:48
right? And Central Bank digital
48:50
currencies won't solve that unfortunately though in the west
48:54
that the inflation rate Isn't So drastic that people don't really
48:58
notice that they're being stolen from man that Unions right.
49:03
Oh, look the it's JP Morgan. It's Wells Fargo, it's The Fad.
49:07
This is the Central Bank. Digital currency, you know, they
49:10
they roll out whatever politician on TV with the with
49:13
the official emblem in the back and saying you can trust us.
49:17
When in reality, you should not be trusting.
49:19
And this is something that unfortunately people in Cuba
49:23
people in Venezuela people in Afghanistan, you tell them, do
49:26
you trust the government with your money and they'll tell you
49:28
he'll know, he'll effing know. No, you know, so maybe it's a
49:33
little bit of poetic justice to, right?
49:36
Because these are the countries that have been suffering the
49:39
most because they don't have the ability to issue their own to
49:44
issue a strong fiat currency and maybe there's a little bit of
49:47
poetic justice that it's developing countries that have
49:50
been getting the short end of the stick for decades.
49:53
Now are the ones that are going to be the first to benefit from
49:57
hyper Bitcoin ization or going on a Bitcoin standard.
50:00
So and look, this is not just Me speculating anymore.
50:03
Look I don't think it's a coincidence that El Salvador
50:07
adopted Bitcoin, saw record, GDP growth, saw the crime, drop B.
50:13
And the reason I don't say it's a coincidence is because look,
50:16
Michael sailor has the domain hope.com or hope dot-org.
50:19
Right Bitcoin gives you hope and BK has to handle deterministic
50:23
optimism, right? Your life perspective.
50:26
Completely changes. When your unit of account is
50:29
deflationary because all of a sudden Your opportunities, you
50:34
have hope for a future because you know, that you could save
50:37
and eventually you'll be able to afford something versus an
50:40
inflationary future, it's a constant struggle and race to
50:44
earn more and more and more money because that money is
50:47
constantly losing value, right? So I don't think I don't think
50:51
El Salvador's success story in terms of the economic growth and
50:56
in terms of the tourism in terms of all this, hope that people
51:00
see I was in it, I was in Cafe Bitcoin.
51:01
This Morning. And there was a bunch of people
51:04
being interviewed that were on the ground in El Salvador.
51:06
And there are saying, look, I'm outside, I'm a Salvadorian
51:09
before. I was always thinking, how do I
51:12
get out of this place? How do I migrated to the United
51:14
States? And now I'm thinking, I'm
51:17
staying here. I see hope with nine bouquet LA,
51:20
and I really think you're going to start seeing the same thing
51:23
in countries, like Argentina and countries like Venezuela, as
51:26
more and more and more of the population, wake up from the
51:30
Fiat Matrix and realize holy Holy crap.
51:33
I don't really need this government money anymore and
51:36
because I don't really need this government.
51:37
Any more money. Money more, you're taking power
51:40
away from them. This is what the separation of
51:43
money and state is all about. It's freaking beautiful but
51:46
bunker down because the state is definitely going to fight back.
51:49
Anyways, Opti, let's get to the moon review.
51:52
The daily meme review brought to you by Kaboom racks.
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51:59
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I feel good. That day, I love that name.
52:25
Yeah, I love that. The sticker slap might be the
52:28
best part of that. I got that from Tucson because
52:31
Tucson just went to my luggage was like, oh man.
52:34
All right guys, you already know this is the mean review.
52:37
Tweeter, the bullets and memes are the artillery in this
52:39
information War. You guys are the Frontline
52:41
soldiers continued to spread that Bitcoin signal because the
52:44
world needs to know they need Bitcoin now more than ever.
52:49
Anyways, this first one, I don't think this is a new mean by
52:52
Dylan Leclair but it's a very fitting meme at this time.
52:56
So he did a post to go to Bitcoin, mining difficulty, just
52:59
reaching a new all-time high and then he's got this me right
53:02
here. You guys pain types of headaches
53:04
migraines, hypertension stress, another bear Market difficulty,
53:08
increase a minor out there. Oh man, a man and you're
53:13
surviving, you will make it in the, in the meantime, you might
53:16
be feeling some pain but hopefully you prepared for this
53:19
moment. Anyway, Let's Get Down bunker
53:21
down, kaboom Anyway, the next one is by the Bitcoin therapist
53:25
AKA at the BTC therapist and he goes and this is a play on like
53:30
The Smiling Meme and the shock me Migos crypto exchanges,
53:33
rehypothecation Bitcoin in suppressing price and he's got a
53:36
big smile and then he's got the shock, having a bank run on
53:40
their Bitcoin. This is what we're seeing right
53:41
now in real time guys. And, you know, a meme paints, a
53:46
picture of a thousand words. Anyways, this next one is by
53:49
sweet hot oil and I know you guys saw this.
53:52
This this weekend. We had all the the crypto
53:55
influencers trying to backtrack on their really bad endorsements
54:00
of the past year and ago sweetheart.
54:02
It goes just buy Bitcoin, and we got this, we got to pop in here
54:05
goes, what you must know about crypto, we got pain, what you
54:08
must know about Krypton. We gotta Chad Bitcoin, ER, and
54:12
he whispers in his ear. Nothing.
54:16
I love that one. All right.
54:18
This next one is by memeing Bitcoin and this is what we tell
54:21
you guys all the time. On the show, the world needs
54:24
Bitcoin more than ever. And we have the world and it's
54:27
missing one square and we got Satoshi Nakamoto giving all of
54:31
himself to you. That's beautiful corners out
54:34
there and you gives you the missing piece, which is the
54:37
orange block of Bitcoin. It's a very poetic really like
54:41
this one anyway, this next one, it is.
54:44
Week of Thanksgiving. So I'm sure at least an
54:47
American. I'm sure you guys are going to
54:48
be hanging out with your families out there and you're
54:51
gonna have to go through this exact scenario.
54:54
And we gotta mean, by Maxi Club again, loved love the Artistic
54:58
Endeavors that you're going through Maxi club.
55:00
We really, really some of the best memes out there.
55:02
He goes, my family thinking. I'm going to live a normal life
55:06
and then me knowing about the upcoming economic collapse, just
55:09
hoping not to die in a guerrilla War.
55:21
This next one. This next one.
55:23
You might think this is a speculating, these might think
55:26
we're giving you guys the whole p.m. out there.
55:29
But you know, as a bit cleaner that has been through Cycles, we
55:33
know this is going to happen again.
55:35
And he goes this by Rigsby TC goes, the old corrupt
55:38
establishment and its few supporters, have no idea what
55:41
they're up. Against bitcoiners are about to
55:43
wipe them off the map. They have zero chance and it
55:46
goes a chart Bitcoin. Since 2011 number will go up and
55:50
it will continue to go up. Yes, we are in a bear Market.
55:53
Yes. It's getting you know it's
55:56
getting dark out there and more people are getting liquidated
55:59
but number will go up. Continue to stay humble provide
56:02
the value stack sets and everything will be okay as long
56:08
as your Bitcoin is in Cold Storage.
56:10
So shouts out to all you guys today.
56:14
Should I here? Let me play.
56:17
It's very, it's very fitting for these moments.
56:19
All right, this is going to be the meme score music today,
56:26
okay? What would you give?
56:27
Those means my meme review. Score is this pain?
56:31
And can you read that? It says kill your television.
56:35
Oh, very nice. Very nice Andres.
56:38
Would you give those memes? I give up an empty jar of hard
56:43
time. Jerky Hard Times jerky Hard
56:46
Times jerky guys. This is this is simply Bitcoin
56:49
live so put your score in the live chat and we will get to it.
56:54
We will read it live on the show.
56:56
Anyways, I just got this in the mail.
56:58
Shout out to bitcoin bag. It's the I don't know why it
57:01
took me so long to get this one, the censorship resistant issue.
57:05
That's that's what I would give those memes.
57:08
Anyways, Opti I mean, yeah, I guess I forgot to tell you guys
57:15
to put your meat review score, but you guys should already know
57:18
by now. I guess I got a guide, your
57:19
hands consistently but we got, we got to feel you got a few
57:23
memes, goes coming in. I Rave, elevator.
57:25
Rave elevator says, I give those memes 99 rolls of the dice to
57:30
generate a new seed, phrase roof that is very well-thought-out
57:33
score up, these neglected, bastardo Opti Junior Lagarde.
57:41
And awkward first Thanksgiving with my new dad off.
57:44
The, in my mom, Chrissy acting smug over the Bitcoin bear
57:48
Market. Oh man, mr.
57:53
Robot. Wait.
57:55
All right, those me miners heating the house while stacking
57:59
Freedom, Jato coin says, I give the memes for 540 days. 4 hours
58:04
and 20 minutes. The Bitcoin having estimate,
58:08
very good scores. Illogic I give him those memes.
58:10
Gorilla Warrior, very nice. Rope says rating, those memes my
58:15
way will school and showed you. So lunch burrito that's
58:17
misspelled, is it with h, huevos, labels, Bitcoin for
58:22
Canadians. I score those memes that huge
58:24
value. Justin Bieber, gained on his nft
58:26
collection slang John. I give those memes a stray
58:30
Stretch Armstrong next one by Pravana.
58:34
Fi give those means a cup of coffee from El Salvador paid in
58:36
SATs. Yes, BTC pins, those memes.
58:40
Get a A turkey. Pardon very nice.
58:42
Okay. And last at the buzzer I score a
58:46
full wrapped Bitcoin. That's a shit going Bob, you're
58:50
on the wrong show, my friend. All right.
58:52
I also want to give a shout-out to Simply Bitcoin said, g group,
58:54
that's where you can link us. Bitcoin beams to review.
58:56
It's a party. It's absolutely free.
58:57
You gotta go to www.ah.mil / the simply Bitcoin Channel.
59:03
Also check out Simply Bitcoin, unfiltered it's the written
59:05
version of this show. Shoutouts are awesome Riders,
59:08
Paul wine and kiss Ruston Zach You got to go to
59:11
www.simpleandsensational.com news.
59:15
It's dope AF. Anyways, Opti, let's get, we
59:19
have, I'm wondering, we have. Yes.
59:22
Okay, this is specifically for you guys.
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We have a website by know. We have a, yeah, we have a
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website by plate. No, it's a sickness.
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I'm gonna do a software update. Bitcoin software release,
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1:00:00
All right everybody. So after all the things that
1:00:03
have happened at this point, you should have absolutely no excuse
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I also want to give a shout-out to our awesome clothing sponsor.
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Opt he's wearing the non simply Bitcoin merch the decentralized
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All right, simply Bitcoin, March baby, that just dropped, it's
1:01:02
limited edition. So when it runs out, it runs out
1:01:05
and you're not going to be able to get some check out the back.
1:01:10
It's got a giant tank but I thought this was a peaceful
1:01:13
Revolution but it looks. It looks dope.
1:01:16
AF. Anyways guys, thank you so much
1:01:19
for joining us on another episode of Simply Bitcoin.
1:01:21
I want to get I want to get I want to say hi to my guests.
1:01:23
Thank you for coming on today on the this.
1:01:25
Where can people find you Twitter?
1:01:28
I'm always on there at son of SATs.
1:01:30
There we go. It's right there.
1:01:32
Give me a follow and I'm always talking Bitcoin.
1:01:35
Yeah. Awesome man.
1:01:37
Thanks for joining us today. Guys, that was another episode
1:01:40
of Simply Bitcoin. If you enjoyed the show, I
1:01:42
really, really appreciate it. And it helps us a lot.
1:01:45
If you hit that like button and consider subscribing, if you
1:01:47
feel like we provided you value. And number one, thing you could
1:01:51
do to help this peaceful Revolution, get the orange
1:01:53
signal out. Just not only share this
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content. Share all Bitcoin content keep
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pushing this peaceful Revolution.
1:02:02
We must win over more hearts and Minds.
1:02:06
This will continue the party will continue to Till 2 p.m.
1:02:09
Eastern Standard Time, opt he's going to be houghtaling down
1:02:13
Hollow houghtaling down it slipped out.
1:02:16
Huddling down Twitter spaces with their friends over at Swan
1:02:20
Bitcoin best place to stack SATs and our buddy.
1:02:23
Jacob anyways, so that's where the party will continue.
1:02:27
We will see you guys tomorrow for another episode of Simply
1:02:31
Bitcoin. Fucking gun.