Latest / Simply Bitcoin / INSIDER LEAK: 4 BIGGEST Banks in The World Coming To Bitcoin In 2025?! | EP 1234

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INSIDER LEAK: 4 BIGGEST Banks in The World Coming To Bitcoin In 2025?! | EP 1234 · Simply Bitcoin

0:00
Yeah, a new rumor is circulating that four huge banks that
0:04
control that control $10 trillion worth of capital will
0:08
be entering the spot Bitcoin ETF game by the end of the year.
0:15
Matt Hogan, the CIO of Bitwise, dropped this bombshell at a
0:19
conference and said that this tidal wave of capital could be
0:23
the catalyst to end all bear markets.
0:27
Will this change the Bitcoin four cycle for the four year
0:32
cycle forever? Let's jump straight into the
0:34
clip with the man in question explaining his case and then
0:38
we'll talk about it. We'll talk about the four year
0:41
cycle. Is it alive?
0:43
Is it dead? Anyways, exciting times.
0:46
Regardless, let's check it out. Four year cycle.
0:51
Is it over? Yeah, it's over.
0:55
OK, hold on. Explain.
0:57
Well, I mean, so so my view of the four year cycle is you have
1:00
a catalyst that brings new pools of capital in so 2011 it was the
1:03
launch of Coinbase retail investors could buy Bitcoin new
1:06
capital, then leverage builds up and eventually it pops. 2015 the
1:10
introduction of Ethereum 2019 D 5/20/23 it was Grayscale winning
1:15
its lawsuit in March against the SEC.
1:17
We're going to get ETFs bringing in capital.
1:20
The reason I, I think it's probably going to play out over
1:24
4 years is a, I think that's a longer inflow of capital than
1:29
retail hot ball of money, which was the past three.
1:32
And then secondly, we have yet another of those catalysts in
1:35
November, which is the election completely changing the game in
1:39
terms of institutional adoption. So even if the ETF driven cycle
1:44
would have built up, leveraged and popped and receded, we have
1:47
this second tidal wave that's just so much bigger than that
1:50
first one, it's going to overwhelm it.
1:52
So will there be, you know, pull backs?
1:54
We're seeing one now as leverage comes out of the system, of
1:57
course, but the election was such a sea change that it's like
2:02
it doesn't matter. Yes, there may be this, this,
2:05
this natural thing, but it's just going to get bulldozed
2:08
over. That doesn't mean we've repealed
2:11
pull backs, but I think this cycle is going to be much longer
2:14
than people think. I definitely don't think this
2:16
pull back is the end. I think 2025 will be a great
2:19
year. I think 2026 will be a great
2:21
year. I think 2027 will be a great.
2:28
I mean that, that that's crazy. What I will say I I've been I've
2:32
been in this for a little bit. What I will say is we hear that
2:38
every cycle that the cycles are over.
2:41
That's like a that's like a narrative that we hear every
2:44
single time. This time is different.
2:47
Let's see, we'll see how this plays out, but I've been showing
2:50
you guys this chart, the comparisons between the
2:53
different cycles. Of course, the blue one is the
2:56
2013, the orange one is the 2017, the green one is the 2021,
3:02
and that red one down below is the current 2025 cycle.
3:09
And, you know, if, if Bitcoin performed like it previously did
3:12
and on the other cycles, it'll, it should have already peaked by
3:16
now, essentially. And that would be really boring.
3:20
And I don't think that's the case.
3:21
And the reason I don't think that's the case is because of
3:25
all this news that you're hearing, right?
3:27
Of course, the institutional interest, BlackRock, you have
3:31
the United States government, the most powerful government on
3:33
the face of the planet, giving it, you know, a rubber stamp of
3:37
approval saying that the United States has the intention, this
3:40
administration has the intention to acquire more Bitcoin.
3:43
So I mean, in a way we've heard this many times, but in a way
3:48
we're kind of in uncharted territory and Bitcoin clearly is
3:52
not performing as it has in the past.
3:56
It's acting a little bit different.
3:58
This could be a little bit more drawn out than what we've been
4:02
used to in the past. Now it's very kind of
4:06
interesting article that he that he dropped as well that Opti and
4:10
I were talking about before the show and I found it interesting.
4:14
Let's talk about it. So he goes on to say, earlier
4:16
this month I gave the closing speech on day one of a national
4:20
wirehouse conference. That in itself is notable.
4:25
The BIG4 wire houses Merrill Lynch, Morgan Stanley, Wells
4:29
Fargo and UBS control over $10 trillion in client assets.
4:35
And by and large, these platforms have not yet allowed
4:38
their advisors to easily access Bitcoin ETFs as my keynote
4:43
invitation suggested. That's changing fast.
4:48
So this is something that I want you guys to pay attention to.
4:50
This is what we've been. We, we keep telling you this.
4:53
I keep telling you this from a news perspective, in my 9 years
4:58
in Bitcoin this I've never seen as much bullish news in one
5:03
cycle. From a price perspective, it
5:05
doesn't seem like it's matching that.
5:08
However, again, if you pay attention to the fundamentals,
5:13
they are there. Do you think this is going to
5:14
stop? Do you think this is going to
5:16
stop like with, with the, with the, you know, with the interest
5:20
from the US government, from the interest from the absolute
5:24
success of the Bitcoin treasury play that micro strategy like
5:30
essentially 100X their market cap.
5:32
With the recent announcement of Jack Mahler's Tether and
5:36
SoftBank joining forces to create another Bitcoin holding
5:40
company, do you think it's a coincidence that all these
5:41
things are just succeed? Do you think Wall Street is just
5:43
going to sit back and say, you know what, have fun with your
5:46
bitcoins? No, they're going to want to get
5:47
involved. But Riley, they're skeptical in
5:49
a way, right? But I think a lot of that
5:52
skepticism came from the fact that there was a lot of
5:55
regulatory uncertainty. That's not the case any more
5:58
anyways. In fact, I suspect all four wire
6:02
houses will be open for business on Bitcoin ETFs by the end of
6:07
the year. That's right.
6:09
Merrill Lynch, Morgan Stanley, Wells Fargo, and UPS essentially
6:15
will allow their clients to buy exposure to Bitcoin by the end
6:20
of the year. Buy and hold.
6:21
They control 10 trillion together.
6:23
That's that's ridiculous. It's one of the reasons I still
6:27
expect Bitcoin ETFs to set a new record for net inflows this
6:31
year, despite pulling in just 3.7 billion so far in 2025
6:37
compared to the 35 billion in 2024.
6:40
But I'm not writing this to make a point about wirehouses.
6:43
Instead, I want to share a story about one person in the
6:47
audience. So he gave a speech.
6:49
And this is the best part of giving a speech is the end.
6:53
And at this particular event, someone waited till the 20-30
6:57
other people asked their questions and he said, quote, I
7:01
heard what you said and it made a lot of sense to me.
7:04
But I just can't get over the hump.
7:06
And perhaps, you know, you're still there.
7:08
I mean, I doubt if you're watching simply Bitcoin, you're
7:10
probably orange build buy now. You're probably a Bitcoin
7:13
believer. You probably have spot Bitcoin
7:15
in self custody. But anyways, so it goes on to
7:20
say my new friend was about to leave, still looking conflicted
7:23
when I asked him a simple question.
7:25
What would it take? Essentially, what would it take
7:27
to convince you? In other words, what would he
7:29
have to see to believe that Bitcoin is here to stay and that
7:33
this message is for all you guys, for the people that
7:36
perhaps have been disappointed by this Bitcoin bull market.
7:39
I posted something a couple days ago where I said, listen, guys,
7:46
I've been, you know, my essentially my job is to talk to
7:49
people five days a week or the days that I'm travelling at
7:52
least I try to talk to people five days a week.
7:54
If not Opti's, talking to Bitcoiners five days a week,
7:57
CEOs, founders, everyday Bitcoiners.
8:00
And the general consensus this cycle is like, dude, it's been a
8:04
little bit of a lot of a let down.
8:06
Like people expected Bitcoin to be a lot higher by now.
8:09
This is for those people that have the doubts.
8:13
For some people, the way they answer this question helps them
8:15
see that they will never buy Bitcoin.
8:18
If you're waiting for Bitcoin to be more accepted than gold, or
8:21
for its volatility to get close to 0, you're never going to buy
8:25
Bitcoin. But if you don't have those
8:27
blockers, it's worth asking seriously, what would it take?
8:30
Institutional custody Today, publicly traded companies like
8:34
Coinbase and well known brands like Fidelity Custody Bitcoin
8:38
and financial giants like BNY Mellon are close behind
8:42
Institutional trading today. Bitwise trades with established
8:46
firms like Jane Jane St. and Cumberland Slash DRW.
8:51
Institutional adoption. 9 of the 10 largest hedge funds in the
8:55
world own Bitcoin today, along with Emory University, an $11
8:59
billion endowment, the Teacher Mint Retirement System of Texas,
9:04
$210 billion assets under management, and Titans of
9:08
investing like Ray Dalio and Stan Druckenmiller and many
9:12
other institutions. How about large asset managers?
9:15
How about BlackRock and Invesco? I mean, BlackRock is the asset
9:20
manager, right? Corporate adoption.
9:22
There's strategy, there's block, there's Tesla, right?
9:26
Tesla's like one of the big seven tech stocks.
9:29
A lot of people forget the Tesla holds about 10,000 Bitcoin, and
9:33
it's also speculated that SpaceX holds Bitcoin as well and more
9:38
than 80 other public companies. What about easy access?
9:42
Well, there's the ETFs. Since the approval of the ETFs
9:44
on the day that Hal Finney tweeted running Bitcoin, that
9:49
was the day that the ETF was approved last year in 2024.
9:53
Model adoption. BlackRock now recommends 2%
9:56
Bitcoin in investor portfolios. And I know, I know you guys know
10:01
what that feels like because we all dipped our toes a little bit
10:04
and then, you know, you end up perhaps being a degen like me
10:08
and Opti and going 100%. What about regulatory stability?
10:11
Market structure legislation is expected to pass through
10:15
Congress this year. What about government adoption?
10:18
The US is building a strategic Bitcoin reserve.
10:21
Whatever it is, write it down. Because if you go back even a
10:25
few years, what we thought it would take, like the US
10:28
government owning Bitcoin or the largest asset manager in the
10:31
world, embracing the asset seemed far fetched.
10:33
But here we are. My friend thought about it for a
10:36
moment, took a deep breath and said, I'm going to buy Bitcoin.
10:41
I think a lot of people are going to come to the same
10:45
conclusion this year. So if you take a look at the
10:50
fundamentals, I've been repeating myself over and over
10:54
again, They've never been stronger.
10:56
They've never been stronger than they are right now.
10:59
Bitcoin has never been in a better position if I laid it out
11:03
for you guys. So yes, the price action might
11:06
be a little bit boring. Bitcoin has become the new
11:09
stablecoin. I blame Opti, but again, it's
11:13
Infinity divided by 21 million and I think there's a tidal wave
11:17
of of more people adopting Bitcoin.
11:20
And remember, there's only 21 million.
11:23
So eventually something's got to give.
11:25
The damn has to break. And what do you think's going to
11:28
happen? Price?
11:29
It's going to go absolutely bonkers.
11:31
And another interesting stop for you guys that I'll drop most of
11:36
bitcoins gains. So if you take 365 days, most of
11:41
bitcoins gains happen in 10 days of those 365 days.
11:46
So if you're not in the market for the entirety of the year,
11:52
the probability of you missing those 10 days is actually
11:56
extremely high. So your job is very simple.
11:59
Make sure that you have more Bitcoin than the day before
12:03
Huddle. We know it's hard
12:05
psychologically, emotionally, spiritually, but all the signs
12:08
are there. I think Bitcoin is going to be
12:11
absolutely explosive for these next couple of years.
12:15
I'm going to open up the conversation.
12:17
I'm going to pass it on to Opti before we introduce our guest
12:20
who's joining us today. Opti, do you believe the four
12:24
year cycle is dead? I mean, we hear this every
12:28
cycle. The cycle is dead.
12:30
Super cycle, he kind of said super cycle.
12:35
I'm kind of leaning to do. I don't think this bull, I don't
12:38
think this particular cycle or this particular bull run is
12:42
going to, it's going to end in at the end of 2025.
12:46
I think this might go into the Q1 of 2026.
12:50
What's your take? Yeah, So I've been kind of
12:53
saying for a while, I'm still on the fence over this idea of the
12:56
four year cycle being dead. Obviously we won't know until
13:00
the end of the year. So I'm kind of tentatively just
13:02
going based on what we've seen historically in Bitcoin.
13:06
And I know everyone in the chats kind of trolling and being like,
13:09
of course they always say this time is different, but this time
13:12
does feel different. Obviously we only be able to
13:15
check the understand this or know what actually happened in
13:19
hindsight. But if you really kind of lay
13:21
out that video and yes, it was a week old, the beginning of Matt
13:24
Hogan, but it really kind of sets us up for what we're
13:27
talking about today where he's suggesting that by the end of
13:30
the year, the four biggest banks in the world are going to allow,
13:34
you know, their customers and clients to engage in Bitcoin
13:38
ETF, whether that means launching their own or
13:40
essentially just opening it up for the BlackRock ETF, etcetera.
13:43
So I'm starting to look at this and I've been saying this for a
13:46
little while as much as I and actually, Nico, will you pull up
13:49
that the the cycle comparison chart real quick because it is
13:54
starting to feel like these cycles are being elongated a
13:57
little bit. Now.
13:59
I know I've been saying for a little while, if we only got to
14:02
what the 2021 cycle, which was a disappointment, that would be
14:06
like 200 K today basically. And it does look like where we
14:10
are right now, even though it is kind of lining up.
14:13
A lot of people have been saying it's lining up towards the 2017
14:16
cycle, which I actually really enjoyed your back and forth with
14:19
Check Matey yesterday on Twitter.
14:21
He's basically saying what we've been saying.
14:23
Maybe as bitcoiners are getting impatient, we're getting
14:25
entitled. Entitled.
14:27
We need to lower our time. Trip should I Should I pull up
14:29
that? Yeah, pull that up.
14:30
Let's pull that up. And anyways, I'm I'm saying all
14:32
this to say it does feel like we are starting to see an elongated
14:37
cycle. And if that plays out, then that
14:39
would essentially mean that the four year cycle was dead.
14:41
If we don't see a 2026 bear market, what a lot of us are
14:45
thinking it's going to play out. Even though I did post the other
14:47
day kind of trolling, we are still, you know, 3 green, one
14:51
red in play right now. So I'm still kind of holding out
14:54
that that. It is.
14:55
It's like a 2% green. Yeah, whatever.
14:58
We're still green, bro. It's still what, four months
15:00
into the year? Come on, dude, stop being a
15:02
bear. It is start.
15:04
It is starting to feel like it's playing out around the 2017
15:07
cycle because if you were around in 2017, it started to pump
15:10
towards the end of the year. So if we're playing out like
15:12
this, it could pump, you know, Christmas time pumping and then
15:17
maybe it does kind of going into 26 or 2026.
15:20
It does go back into a bear market.
15:22
But considering all the amount of Bitcoin that's being bought
15:25
or allegedly being bought and the attention Bitcoin is
15:29
getting, it does start to feel like we might be into this new
15:33
cycle paradigm where it's more like a stepwise function.
15:36
I've been kind of joking that like we're just going to see the
15:38
stepwise functions going to go sideways chop and then we're
15:41
going to see another stepwise and we're just going to get
15:43
bored to death here. But it does seem to be playing
15:46
out this way. Consider that now Bitcoin is
15:49
becoming a macro asset. And of course all the big
15:51
capital that looks at Bitcoin, they don't look at it
15:53
ideologically like we do. They look at it as something to
15:57
kind of hedge their bets against global macro factors.
16:00
And that means when there is something that happens in the
16:03
Fiat markets that scare them and spook them, they're going to of
16:05
course sell the most sellable and liquid asset first, which is
16:08
Bitcoin. So we are seeing some new
16:12
indicators that Bitcoin is acting a little different.
16:14
But I do like what Checkmate is saying.
16:16
He's basically like Nico, lower your time preference, your too
16:19
high time preference. Bitcoin is doing exactly what we
16:22
wanted to do. So here you can, you can cover
16:25
this thread and then and then we'll pass it over to Maddie
16:27
Ice. Absolutely.
16:29
So let's so I, I posted this, it was on the 29th and you know,
16:35
the way that things go viral on X guys, is it usually you have
16:41
to hit a heart string, you have to hit something that is on the
16:45
minds of a lot of people because then it doesn't resonate with
16:49
them, right. So, and I think the fact that
16:52
this, this ex post got a, a decent amount of engagements
16:56
specifically for the, the, the size of my account tells me that
17:00
a lot of people are thinking this.
17:03
So I say I said what I said earlier.
17:05
So I talked to bitcoiners five days a week on simply Bitcoin.
17:08
We've had OGSCEOS and everyday bitcoiners on the show.
17:12
The general consensus this cycle, the price should be much
17:14
higher and no one has any idea what's going on and who am I
17:18
talking about? So I'll name some names.
17:21
So we had Lop Lops and OG CTO of of one of our sponsors, Casa.
17:28
Great, great product by the way, highly recommend.
17:32
And he's basically like, look, Nico, I'm in, I'm in a telegram
17:36
group with like, like basically I'm in Telegram groups with like
17:39
other O GS and no one has any idea what's going on.
17:42
And then, you know, I've talked to Samson Mao, I've talked to
17:45
Larry Leopard. Like these are very intelligent
17:48
people. It's the same thing.
17:50
Like I have no idea what's going on with the price.
17:52
My dad, super smart guy. He's like Bitcoin price is
17:57
suppressed right now. Like he's even telling me that.
18:00
So this is like the general consensus cycle.
18:04
Like people are like, yo, we see the news, we see the White House
18:07
tweet. You know what would have
18:08
happened to the price in 20/17/2018 if the White House
18:15
tweeted A strategic Bitcoin reserve bro, we would have gone
18:20
from $1000 or in the beginning of 2017 we would have gone to
18:25
50K. Like I'm not even in in like a
18:27
matter of like 3 or 4 months. Like yes, like A50X in that
18:32
short amount of time, because everything made like any type of
18:37
any, a lot of it was fake, which is moving the price now.
18:41
I get it. The market cap is bigger.
18:43
It takes a it's in. This is what check Matey was
18:45
saying, and we'll get to that in a second.
18:46
And it's bigger and it's more mature and it's more whatever.
18:50
But still it kind of feels strange, kind of feels strange.
18:54
So that's my personal opinion. At the end of the tweet, I said,
18:59
I'm not offering an opinion or emotion that that was in that
19:03
tweet, but that's what I'm seeing and I do and I do this
19:07
everyday and the days that I don't do it, I'm travelling, I'm
19:09
doing podcast. Opti does it every, you know,
19:12
every Opti's a soldier. He does it five days a week,
19:15
Simply Bitcoin live and he's seeing the same things too.
19:18
So Check Matey, who I actually had on simply Bitcoin IRL
19:22
somewhat recently. He has a more obviously, you
19:27
know, check Matey's looking at all these like, you know, all
19:30
these analytics and all this data and he's looking at, he has
19:34
an incredible newsletter by the way, highly recommend it.
19:37
And he's like, look like calm the F down.
19:41
You know, people just don't understand how markets work.
19:44
So he replied to my post and he said perhaps mate this is a
19:48
signal that people don't understand how markets work and
19:51
are applying unrealistic expectations to the market.
19:55
Plot price since the cycle low and you'll see we were following
19:58
the 20/16/2017 cycle despite being 100 times larger today.
20:04
For all the claims of low time preference, bitcoiners need to
20:09
practice some of it. And I responded I get that but I
20:13
think it's just human nature Bro.
20:15
If you live through previous cycles, this one could feel like
20:19
a let down, even as you said Bitcoin is exactly where it
20:22
should be. People are chasing the highs of
20:25
past runs, chasing the dragon so to speak.
20:28
Checkmatey replies with yes they are.
20:31
Which is the only constant in markets or emotions.
20:34
As you noted, everyone from O GS to CE OS succumbs to their
20:38
emotional biases in markets. In my honest opinion, and as
20:42
someone who looks at Bitcoin market data for a living, this
20:46
cycle is effing awesome. Bullish as folks are just bored
20:51
and need to spend more time with their hobbies.
20:53
If Bitcoin is your hobby, don't get swept up in the emotions.
20:56
The reality is all there in the data.
20:59
I mean, I agree with him. You should definitely go like if
21:04
Bitcoin is your hobby, like go outside and do something else.
21:08
I completely agree with him on that part.
21:10
The second part is, is that yeah, that look, from a data
21:15
perspective, Bitcoin could be doing amazing.
21:17
He could be absolutely right, but bro, this is not like you're
21:22
not getting the the, the thrill that you were getting in 2017
21:26
and 2021. That's a fact like that.
21:30
I know for a fact. And I know a lot of other people
21:32
feel that way. So yeah, I mean, perhaps again,
21:35
from the data perspective that Check Matey is talking about,
21:38
and I agree with him, by the way, he's right.
21:42
But you know, it like it's basically saying don't, don't
21:47
completely ignore your instincts, you know?
21:51
So anyways, Stefan Lavera replied and he says disagree
21:56
that the price should be much higher.
21:58
I think this is actually playing out similar to 2017, say around
22:01
April ish. We had some run up, but the real
22:05
craziness happened late 2017 in the last three months of the
22:09
year. People need to zoom out.
22:11
Troy Cross says have me on in a few weeks.
22:14
And and when we get the next iteration of our survey out,
22:19
have some insights. I'm actually going to message
22:21
Troy. So yeah, I want to get your
22:25
thoughts on this. Maddie, as you know, a Bitcoin
22:27
entrepreneur, he's a Bitcoin business owner.
22:31
And what are your thoughts on this current cycle?
22:35
What are your thoughts on the four year cycle?
22:38
And yeah man, and also welcome to the show, bro.
22:42
Yeah. Thanks for having me on,
22:43
brother. It's nice to be here.
22:45
How's everybody doing today? Thanks.
22:47
For joining us. There's a there's a famous
22:50
saying that says markets, markets can remain irrational
22:54
for much longer than you can remain solvent, right.
22:57
So we host a local meet up here on the the opposite side of
23:01
Florida on the on on the nicer coast.
23:03
And we teach everybody that comes right, just dollar cost
23:05
average. Don't try to like, you know,
23:08
don't, don't try to time this cause like you said, right,
23:10
there's ten days, it could be 10 days out of the year where, you
23:12
know, a lot of the action happens right, where the, the,
23:15
the supply dries up and you know, the demand bids high and
23:17
it's just, you know, you get that guide candle, right?
23:19
So we teach everybody dollar cost average, you know,
23:22
fundamentally all the stuff you're talking about could not
23:25
be more bullish. You know, like the news, the
23:28
fundamentals are just it's, it's, it's honestly
23:30
unbelievable. If you really put everything
23:31
together, one thing you didn't even hit on is like like states
23:36
forming their own Bitcoin, you know, strategic reserves, right?
23:38
Like we're, we're pushing hard here in Florida through the
23:41
Florida business watching association to, you know,
23:44
Orangeville, all, all of the people from the inside of the
23:47
system, right? We're working from the outside,
23:50
but also from the inside of the system as well.
23:52
And I think in Florida, I don't think a single person in the, in
23:56
Congress voted against the Bitcoin.
23:57
They everybody voted yes, Republican, Democrat, whatever.
24:00
It was like a unanimous vote, I believe so.
24:03
And then Arizona I think got it through the other day that they
24:05
they are going to have a Bitcoin strategic reserve.
24:08
So companies everything couldn't be more bullish.
24:12
The we've got the four year cycles, right.
24:17
You you mentioned talked a lot about that, right?
24:19
That's that's one side of the equation.
24:21
So that's the supply side of the equation.
24:24
Over time, you know that that is going to matter less and less
24:27
because it doesn't affect the supply issuance as much.
24:30
I think though as time goes on, it becomes much less
24:34
significant. I think we still have a couple
24:36
cycles where it does matter because it's a, you know, a long
24:38
term supply constraint. And once we get kind of under
24:41
one Bitcoin, we're having I think maybe 8 years from now
24:44
will get us there. We've it's going to become less
24:47
of an impact. But the demand bid is changing
24:50
drastically from all the things you guys talked about.
24:52
So I think that is dwarfing structurally and fundamentally
24:57
the supply side of things over probably the next 8 years.
25:00
I think it's just, you know, you've got this as we approach
25:03
that true absolute scarce number of 21 million.
25:05
I think that the demand is just growing, growing, growing.
25:08
I mean, we see it from nation states.
25:10
I didn't really have nation states on my bingo card this
25:12
cycle. I was thinking, OK, more
25:14
companies, maybe states. But now we've got, you know,
25:17
huge governments coming into the equation, which fundamentally
25:21
long term, I mean, you couldn't possibly be more bullish, you
25:25
know? Absolutely man, I I completely,
25:28
completely agree. By the way, I do want to give a
25:31
shout out to the live stream in total, between all platforms, we
25:35
have about 1900 live viewers. I want to give a shout out to I
25:40
think it's actually 2000. Yeah yeah oh Rumbles, pop it off
25:44
today. 352 live viewers on Rumble, 522 live viewers on
25:51
YouTube and on X 1200 live viewers.
25:55
If you guys are enjoying the show so far make sure to smash
25:58
that like button you're listening to simply Bitcoin
26:01
live. I'm your host Nico's my
26:02
legendary Co host optimist fields always optimistic no
26:05
matter what and our special guest today we got Maddie ice in
26:09
the house guys today is going to be a loaded show.
26:12
We have tons to talk about. We have clips of Michael Saylor
26:16
talking about $1,000,000 Bitcoin.
26:19
We have the president's son, Eric Trump talking about how,
26:22
listen, if if banks don't adopt Bitcoin, they're going to get
26:26
left behind. And of course during the news
26:30
segment, we have an update for you guys regarding the samurai
26:33
wallet case should be interesting to talk about.
26:37
And of course during the culture segment, we're going to be
26:41
talking to our guests about Bitcoin mining because that's
26:44
what he does. He does Bitcoin mining, so and I
26:47
know a lot of you guys are are paying attention to what's going
26:49
on there. So it's going to be a hell of a
26:51
show guys. Lots of content, lots of
26:53
breaking news to unpack. But before we do it, just smash
26:58
that like button. Really, really helps with the
27:00
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27:04
So smash that like button. I'm going to set a like goal.
27:07
Actually. We are at 109 likes.
27:11
Help us break 200 likes by the 45 minute show.
27:16
All right everybody buddy, before we jumped into it, I do
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today. All right, everybody, we are
30:53
back. I do want to go through oh,
30:57
sorry about that. I do want to go through the
30:59
numbers. At the time of recording, the
31:01
Bitcoin price is $93,920. Block height 894,628 SAT's per
31:09
dollar 1065 market cap one point 8-6 trillion Bitcoin versus gold
31:15
market cap 8.03% Percentage issued 94.56% decline from all
31:21
time high -14% Realized monetary inflation .84%.
31:26
In the grand scheme of things, we are just getting the party
31:30
started. Anyways, here's a clip of
31:33
Michael Saylor talking about how banks getting involved is going
31:40
to shoot Bitcoin's price to $1 million per coin.
31:46
The industry is growing up. It's becoming more secure.
31:49
It will be accepted by bank. I'll leave it at this thought,
31:52
which is when your bank tells you they'll buy Bitcoin for you
31:55
and they'll make it really easy and you can do it on the phone,
31:58
it'll cost you $1,000,000 Bitcoin.
32:00
And when your bank calls you on the phone and says, you know,
32:03
you really ought to buy Bitcoin, it's a digital monetary
32:06
alternative. And when they recommend it,
32:08
it'll cost you $10 million of Bitcoin.
32:10
And right now, no banks going to recommend it and they're not
32:14
going to help you buy it. And you're going to have to jump
32:16
through hoops and you're going to feel really nervous about it,
32:19
but you'll get to buy it around 100,000.
32:26
So I mean kind of self-explanatory.
32:28
And now here is Eric Trump talking about what's going to
32:32
happen to banks if they don't jump on the Bitcoin drain.
32:37
Our banking system is broken. Our banking system is
32:40
antiquated. Our banking system favors the
32:42
ultra wealthy. And what actually got me into it
32:46
is the fact I realized our banking system, it was
32:48
weaponized against the vast majority of people in our
32:51
country, either the people that don't have the zeros on their
32:53
balance sheet or people who might have warned that Red Hat
32:56
that said make America great again.
32:59
And and it forced me into the crypto world.
33:02
And and I'm telling you if the. I mean, boom, bom Bing, right?
33:11
It's kind of self-explanatory. It's instinct.
33:14
That's that's some very strong wording from the president of
33:18
the United States, son. And I think it's happening it
33:22
despite all the shenanigans that happened last year, despite the
33:26
hostility from the Fed and the previous administration.
33:31
You can't stop this train. You can't stop this train.
33:33
So I mean, connect the dots, right?
33:35
The banks are coming. We just wrote, we just we just
33:38
told you guys during the the opening segment, we were talking
33:42
about Maryland. I mean, these are mass Wells
33:44
Fargo, right? They're all looking at Bitcoin
33:46
differently. And Michael Saylor saying like,
33:49
look, when that happens, it's going to be at $1,000,000, it's
33:51
going to be too late to buy Bitcoin.
33:53
And then Eric saying like, look, it's not only that they're
33:56
interested, not only that they're, it's not only that
33:59
they're interested, but if they don't do it, they risk going out
34:02
of business, period, right? So, yeah, I mean, look, it's
34:06
probably a good idea. It's probably a good idea to get
34:09
some just in case it catches on. I think it's safe to say it's,
34:13
it's caught on now, but let's just say that the train is
34:17
moving. Have you seen those?
34:19
Have you guys seen the movies, right where like the train is
34:21
left and they're like running and then it's like I got to jump
34:25
on the caboose. The caboose is like the last
34:27
train car, right? So like it's like that the train
34:31
has started to move and you still have the opportunity to
34:34
jump onto the caboose onto the back of the train.
34:38
But if you wait 5 more minutes, you're going to miss it.
34:42
And then Opti's going to go outside of the caboose on the
34:46
railing and he's going to wave at you because it's going to be
34:49
too, and laugh because it's going to be too late to jump on
34:55
the Bitcoin train. So don't wait.
34:57
I mean, it's already left the station, but you could still
35:01
jump on the caboose if you stack some sets right now.
35:05
Anyways, I want to get Maddie's thoughts.
35:07
Maddie, what are your thoughts? Those are some pretty strong
35:10
words by the president's son, basically saying that banks are
35:14
going to go in like extinct if they don't jump on the Bitcoin
35:20
train. What are your thoughts man?
35:22
I think he got a little taste of the whole choke point thing when
35:24
the system was weaponized against him and his family the
35:27
last four years. That's not even the best clip.
35:29
There's another clip of him saying like where he's like,
35:31
hey, I'm all in on this stuff. Like I get it.
35:33
I understand it like I think it was about a week or two ago
35:36
where he was like, I live in, I think he said something,
35:38
something along the line of like I'm, I'm living and breathing
35:41
this shit now. Like it was like he, he gets it
35:44
right. Like when you, when you start
35:45
getting bank accounts shut down and you can't access the system,
35:48
you got a little taste of what happened to all of us for the
35:50
past, you know, 4 to 8 years. So I think he's, he's not
35:54
playing around. He's, he's, he's all in on this,
35:56
right. So yeah. 100% he's definitely
36:05
all on. He's definitely all in on this.
36:08
I mean, his family has exposure. His his dad won on that policy
36:12
ending operation choke .2 point O Opti.
36:15
What are your thoughts of this? I know that Opti is a huge, huge
36:19
Trump fan. Like he's Mogga through and
36:22
through. So in that, that train that's
36:24
leaving the station, that's a Mogga train and Opti's, Opti's
36:28
the conductor. I don't know about all that, but
36:31
anyways anyway. I think it's an important point
36:34
though, is that Bitcoin is for everybody, right?
36:36
Like it's like whether you love the.
36:38
Person I I disagree. I disagree.
36:41
I don't. Think it's for anybody?
36:42
I think Bitcoin is for anybody. I don't think Bitcoin is for
36:45
everybody. Oh, OK, I see your.
36:47
Place, Yeah, important distinction there.
36:49
OK, well really going look first of all guys, you probably you
36:55
probably. One last thought on the last
36:57
topic, because you talked about Wells Fargo and Merrill Lynch
37:00
and all this these different things.
37:02
I just got back from a trip on deployment with, you know, an
37:06
aspect of our business recently that's really taking off is our
37:09
curated mining stuff where we're we've got essentially investor
37:11
partners and we're deploying mining operations for them.
37:13
And like over the past six months, it's just absolutely
37:15
exploded. But we had a conversation in the
37:18
past couple weeks with somebody at Merrill Lynch.
37:20
I mean, I'm sorry, Wells Fargo, who has like half a billion
37:23
dollars under management and his people keep coming out and
37:26
asking him like, hey, like, I want to get into this crypto
37:29
stuff. I want to I want to be involved.
37:30
I want to be in Bitcoin, like what's going on, right?
37:33
So he's like people keep coming and asking to me.
37:35
He's like, we're almost to the point where like I'm able to to
37:38
provide some, you know, hey, you've got this opportunity over
37:42
here. Hey, you've got this
37:43
opportunity. You can do Bitcoin mining over
37:45
here. So it's coming and we're getting
37:48
ready for a new influx of demand that isn't quite there yet.
37:52
But I've got this guy that I've been talking to and he's, he's
37:55
the second that is that like he's got the green light, like
37:58
he's, we're already having conversations, right?
38:01
So I just wanted to do that like if more and more demand is
38:04
coming and the floodgates are opening for our industry.
38:07
So just wanted to kind of chime in on that because I know just
38:11
to provide some context because you guys mentioned some of that.
38:13
Yeah, no, I mean, I I think that is signal here.
38:16
Like and as I was going to say, I think everyone that watches
38:20
the show that that sees me rant about this stuff constantly
38:22
knows I'm not the biggest fan of banks period.
38:26
Obviously. I I did font kind of fall into
38:29
the whole Bitcoin be your own bank meme when I first got into
38:32
Bitcoin because, you know, we all know what happened in 2008.
38:36
And literally that was the defining moment when I became an
38:39
adult and, you know, the whole Occupy Wall Street meme kind of
38:43
came out and then we really didn't have the solution then.
38:46
And we all know that Bitcoin came out of that.
38:48
And that was a creation basically the the, you know, the
38:52
defining moment for launching Bitcoin.
38:54
It was in the genesis block. And so, you know, that's like my
38:56
my caveat on banks in general, But what I think a lot of people
39:00
are learning and especially like Maddie was saying, if anyone can
39:04
see the use case for Bitcoin, it's obviously going to be the
39:06
Trump family when they had the whole system weaponized against
39:09
him or sorry against them, you know, love or hate the guy, he's
39:13
seen, you know, the brunt edge of the stick here.
39:15
And they, and that's why they probably understand Bitcoin so
39:18
well. And of course, they are kind of
39:20
store of value Maxis. And so they're starting to, you
39:22
know, they, I think they really are getting into Bitcoin
39:25
genuinely and authentically. And yes, maybe they're, you
39:28
know, going through the shit coin phase, etcetera, but they
39:30
are starting to see that the true value of Bitcoin, which all
39:34
of us talk about constantly. Now, when you really compare
39:36
Bitcoin to like the banking system, it's, it's just so
39:39
obvious when you understand that Bitcoin is just better
39:41
technology like that. We all know, especially here at
39:45
simply Bitcoin, we've been covering the SWIFT system
39:47
constantly, how payments work, how store values work.
39:50
So like if you just connect the payments, the the payment rails
39:54
that the the world has currently via the different banks, and
39:58
then you also understand Fiat currency and how it can't store
40:01
your value, it becomes very clear.
40:03
And then of course, the weaponization of the banking
40:05
system and D platform, et cetera.
40:06
A lot of the things we that are heart button topics in in just
40:09
culture today, you know, cancel culture.
40:13
The the broken system that is Fiat money, inflation, etcetera,
40:17
etcetera, etcetera. It all points to Bitcoin and it
40:20
really just highlights the fact that Bitcoin is better
40:22
technology, it is better money tech and we're starting to see
40:25
that more people are learning this.
40:27
And as we kind of said in the beginning of this, I do general
40:31
genuinely believe in the idea of Bitcoin is for anybody, not
40:34
necessarily everybody, you know, everybody maybe doesn't see the
40:38
use case for Bitcoin, but it is for anybody that does see the
40:41
use case of Bitcoin, of course, permission, etcetera, etcetera.
40:44
We constantly cover all this stuff and hey, you got to be OK
40:47
with even your worst enemies getting into Bitcoin.
40:50
And you know, personally, you could argue that the banks are
40:53
our worst enemies here as just an individual, someone that's
40:56
outside of the, you know, the the Overton window here, someone
40:59
that's more of a quote, UN quote.
41:01
You know, I, I can't even use the word here, but it starts
41:04
with an E. And you already know, I say it
41:05
all the time on the show, but you start to see that everything
41:09
does point towards, hey, eventually the institutions, the
41:12
bank themselves, and even central banks, we've seen this
41:15
play out around the world, are going to get into Bitcoin.
41:18
And when I'm being kind of objective about it, like the
41:21
very people that are essentially pushing the Fiat system, if they
41:26
understand what the underlying piping of the system is, then
41:30
they have to see what we see. And of course, they're trying to
41:33
find a solution, which I would argue is Bitcoin.
41:36
So the fact that we're seeing, you know, potentially the
41:39
biggest banks in the world and further the biggest nation state
41:42
in the world, the biggest institutional managers in the
41:44
world all start to kind of perk up and open their their minds to
41:49
what the use case of Bitcoin is. I think is a signal here and
41:53
showing what is the trend going on.
41:55
People understand, you know, there's something fundamentally
41:57
broken here or something wrong. And maybe it's just a smoke
42:01
signal right now, but people are looking to position themselves
42:05
correctly. And maybe that statement of
42:07
banks will be gone in 10 years. A little hyperbolic.
42:10
I'm not one of these Bitcoiners. I think banks are going to go
42:13
away forever. I think there will be Bitcoin
42:15
banks. I am more on the lines of
42:17
Bitcoin will make central banks obsolete, but I think there will
42:21
be bank like Bitcoin banks in the future.
42:24
So I don't think necessarily banks over, but I do think that
42:28
Trump, you know what, what was that was Eric Trump was on to
42:31
something when when he's basically saying like, look, if
42:34
these banks don't adapt, then their business models are going
42:37
away. They're they're the dinosaurs
42:39
here. And I think that's the main
42:40
signal. And I think that's what a lot of
42:41
people are, you know, kind of naive about.
42:44
It's like, look, we need a fundamental change in the system
42:48
currently, and I think this is what all the social upheaval is
42:50
all about, is people are looking for different solutions because
42:53
we all understand, look, something has to change the way
42:56
we've been going. The status quo that we are
42:58
currently on isn't working for the majority of people.
43:01
It's only working for a small percentage of people that are,
43:03
you know, close to the money printers and, and people want
43:06
change. Now the solutions or, you know,
43:09
the answers to that. Everyone kind of has their own
43:11
view on this. Of course, us Bitcoiners are
43:13
like, look, let's start with the money.
43:15
The money is broken and then we can figure everything out
43:17
afterwards. So I think there is fundamental
43:20
point there where it's like, look, if they don't adapt, they
43:23
will perish. And I think that's the main
43:25
signal and more people don't understand what's going on.
43:28
Obviously they're stuck in the rat race that, you know, they,
43:30
they probably don't have enough time to put in 40 hours a week
43:33
to listen to Bitcoin podcast, but they should.
43:36
And people are starting to wake up to this idea like something
43:39
has to change, something will give.
43:41
And of course, we're over here like, yo, just stack Bitcoin and
43:44
take it into custody. It's really this simple.
43:47
Stack Bitcoin, take it into cold storage and this is how you can
43:51
survive. Amen, Amen to that.
43:54
Alright everybody, we still got a jam packed show for you guys
43:57
today. We have tons to talk about.
43:59
The next thing we're gonna talk about, which I'm I'm I'm I'm
44:03
excited to talk about is an update on the samurai wallet
44:08
case. And apparently there has been
44:12
someone got socially engineered and they got $330 million stolen
44:20
from them. So we're going to try to get to
44:22
all those stories during the news segment.
44:25
So much to unpack. And then we're going to be
44:27
talking to Mr. Maddie Ice about Bitcoin mining during the
44:31
culture segment. If you guys are enjoying the
44:33
show so far we got 2000 no 2500 people watching live Rumbles
44:39
absolutely popping off 427 live viewers on Rumble alone, 560 on
44:46
YouTube, and 1589 on X. If you guys are enjoying the
44:51
show, like I said, smash that like button.
44:54
Help us break 250 likes. By the time the show ends we're
44:58
at 263. Help us get to at least 100.
45:01
Smash that like button if you guys are enjoying 2 days show
45:06
all right everybody let's hit the new segment.
45:07
We have tons to talk about We will be right back.
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Anyways, I do want to talk about this story we had We had the
48:18
Samurai story and then this story.
48:20
I want to talk about this story because this is effing crazy and
48:25
we were just talking about self custody.
48:27
This is why you should self custody.
48:29
You should self custody because I think it's a little bit harder
48:32
to get socially engineered like if you leave your Bitcoin on the
48:37
exchange. The problem is the the reason
48:40
that they get away with this is, and I'm sure you guys have at
48:43
least received a text message or two basically saying your
48:47
Coinbase account has been compromised.
48:49
For me, what's interesting about that, like I, I get like 100 of
48:53
those text messages. Like it's crazy.
48:56
And what's interesting about that though, is it's like, dude,
48:59
I don't even have a fucking Coinbase account.
49:02
Never created a Coinbase account, right?
49:04
But essentially what they're trying to do is they're trying
49:06
to get you to click on the link and then put in your e-mail
49:09
address, put in your password, and boom, they have access to
49:12
your Coinbase. But these social engineering
49:14
attacks could get extremely sophisticated.
49:18
You'll get a phone call, the people will act like they're
49:21
part of Coinbase and they'll say, hey, your account has been
49:23
compromised and they'll try to get information and data.
49:26
I'm telling you, they're sophisticated social engineering
49:31
attacks. They're not.
49:33
It's not as simple as a phishing e-mail.
49:35
It's not as simple as getting an e-mail, you know, from a fake
49:39
Coinbase. Whatever.
49:41
It's not, It's not as simple as that.
49:43
Like they will study their targets, they will get to know
49:47
who their parents are, who their grandparents are.
49:50
They'll call you and they'll say, hey, look, this person,
49:53
they'll convince you that they are an official representative
49:58
of that set exchange, right? So This is why I think self
50:01
custody is incredibly important, especially if you do it right.
50:05
Like the the the the our sponsor Casa is, is awesome because they
50:11
will literally make sure that this does not happen to you.
50:15
They have a, they have like a like a concierge service for
50:20
like the, the, the higher tiers, but the premium tier is great,
50:24
right? It's like 3 out of 5, right?
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Like it makes it incredibly difficult for you to get
50:29
socially engineered or for you to just lose one of your keys
50:33
and then lose access to your Bitcoin.
50:35
So check out cold card check out Casa.
50:38
They're great. Anyways, let's get to the
50:39
article. The article is by Coin
50:42
Telegraph, and at the top it says the headline is $330
50:49
million Bitcoin social engineering theft.
50:53
Victim is elderly U.S. citizen and elderly US individuals.
50:58
Reportedly the victim of a devastating $330 million Bitcoin
51:03
heist, now ranked as the 5th largest crypto hack in history.
51:08
The attacker used advanced engineer social engineering
51:11
attacks to gain access to the victim's wallet on chain,
51:16
investigator Zac XBT said. An April 30th update on X.
51:22
The hack took place on April 28th, 2025 when Zac XBT flagged
51:28
A suspicious transfer involving 3520 Bitcoin valued at $330
51:36
million. Following the transfer, the
51:39
stolen stash was quickly laundered through over six
51:43
instant exchanges and swapped into privacy focused
51:47
cryptocurrency. Monero on chain data suggests
51:51
that the victim had held over 3000 bitcoins since 2017, with
51:56
no prior history of large scale transactions.
52:00
They go on to say once stolen, the attacker wasted no time
52:05
laundering the Bitcoin using a peel chain method, a common
52:10
obfuscation technique in which large sums are broken into
52:14
smaller, harder to trace chunks. The 330 million in BTC was
52:20
received in two transactions, then immediately distributed via
52:25
peel chains. Funds started to flow into
52:28
multiple instant exchanges slash mixers with small amounts.
52:32
Then mixers were distributing funds across multiple new
52:36
wallets. The biggest funneling chain is
52:39
now consistent of 40 plus wallets.
52:42
Over 300 wallets and 20 exchanges were involved.
52:46
Hackens internal tool Extractor tracked $284,000,000 worth of
52:52
BTC funneled through these chains, which now amounts to
52:56
around 60 million after repeated peeling and redistribution
53:01
across low credibility exchanges, one of the authors
53:05
said. Over 300 hacker wallets and 20
53:09
exchanges or payment services were involved, including Binance
53:14
Coyne. Telegraph has reached out to
53:16
Binance for comment. Quote Major problem in cases
53:19
like this is that freezing centralized exchange accounts
53:23
used in the money in the laundering process is hardened
53:26
due to particularly slow legal process of police reporting and
53:30
investigations. Adding to the complexity, the
53:34
attacker rapidly converted a significant portion of BTC into
53:38
Monero. The move triggered a 50% surge
53:42
in Manero's price, with the token briefly reaching 339
53:46
dollars. Once funds are swapped into
53:49
Manero, tracing becomes virtually impossible due to its
53:53
privacy preserving architecture. The chance of recovering drop
53:58
significantly after this step and all said that the attacker
54:02
likely had pre established accounts across multiple
54:05
exchanges and OTC desk, suggesting a high degree of
54:10
premeditation. A small portion of stolen BTC
54:14
was also bridged to Ethereum and deposited into various
54:17
platforms, further complicating tracking efforts.
54:21
Investigators have since alerted exchanges for potential freezing
54:25
of funds. No familiar laundering tactics.
54:29
Zach XBT has previously dismissed the theory that North
54:33
Korea's Lazarus Group could have been behind the attack,
54:36
suggesting independent hackers were responsible.
54:39
While attribution remains uncertain, experts agree that
54:44
laundering tactics show rare automation and coordination for
54:48
heist of this magnitude. Quote.
54:50
So far we haven't been able to confidently link this activity
54:54
to any known hacker group as the laundering methods used, while
54:58
sophisticated, don't clearly match the significant patterns
55:02
of previously identified actors. He recommended using multi sig
55:07
wallets. This is why we recommend Casa
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here at Simply Bitcoin to eliminate single points of
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failure, minimizing exposure to hot wallets connected to the
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Internet, which is why we recommend taking self custody.
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Get yourself a cold card regularly rotating private keys
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and relying on hardware hardware based cold storage to safeguard
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large Bitcoin holdings Gold card Casa match made in heaven boom
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bumping your Bitcoin is safe. In the first quarter of 2025,
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hackers stole more than $1.6 billion worth of crypto from
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exchanges and on chain smart contracts blockchain security
55:46
Peck shield said in a report in April report anyways, this is
55:52
this is effing crazy This is nuts.
55:55
Can you imagine holding since 2017, you're holding 3000
56:00
Bitcoin that that's an absurd amount of Bitcoin and you get
56:05
social engineered and all that Bitcoin goes boof.
56:08
And then they try to funnel it through Monero and you know, it
56:12
becomes essentially, you know, basically almost impossible to
56:19
to recover, right. So anyways, man, this is this is
56:24
pretty crazy. I mean, the article the the
56:28
article, you know, the article claims, I mean, the article kind
56:31
of points it out. You know it itself, right?
56:35
Like This is why multi sig is important.
56:38
Multi sig is complicated. Costa makes it easy.
56:40
They recommends a hardware wallet.
56:42
You got to get the best hardware wallet in the business, which is
56:44
the cold card. But yeah, I mean, this is pretty
56:48
effing crazy. I don't I don't think this
56:50
person's going to get their their Bitcoin back and if they
56:54
do, they'll they'll get a small portion of it.
56:56
But most most of that is, you know, most of that is, is
57:04
probably, you know, kind of gone forever.
57:07
So anyhow, do you guys have any thoughts on this man?
57:12
This is this is crazy. This is sad.
57:14
This is very, very sad that what I will say too is, you know,
57:21
for, for someone to have someone reading a lot of this on X,
57:25
right, $330 million net worth would make them richer than
57:32
99.99% of people alive. And they're, they wouldn't be a
57:39
billionaire, but they would be a cent a millionaire.
57:41
So someone who's worth 100 million or more and that's
57:44
easily in the top .0001% of wealth globally.
57:50
So it was a massive hack. I think it was targeted.
57:53
I 100% believe it was targeted. I think they knew exactly who
57:58
this person was and what buttons to press figuratively and
58:03
literally. And I think that, you know, they
58:06
were able to come up with this heist, you know, which is pretty
58:10
effing crazy. And This is why, guys, we
58:11
emphasize get yourself a hardware wallet.
58:14
Check out Casa. These are all companies that are
58:17
going to make self custody easy for you and protect you from
58:21
these types of social, social engineering attacks, which by
58:25
the way, I suspect are just going to increase in
58:28
sophistication from here anyways.
58:31
I want to get Maddie's thoughts and then Opti.
58:35
Yeah, the attacks are getting extremely sophisticated, which
58:38
is why education is so important.
58:41
You know, it's hard for me to believe that somebody's holding
58:45
$330 million and hasn't done the due diligence of, you know,
58:50
really learning and understanding how these systems
58:52
work, right, how big works, how a blockchain is immutable, you
58:56
know, so I, I feel terrible. I mean, I, I feel bad for that
58:59
individual. Really, really sucks.
59:02
But you know, I, I've known so many people over so long and you
59:06
kind of get in this industry and you get your education the hard
59:08
way a lot of times. And it's sad, it really is,
59:11
especially when, when elderly, when elderly people are taken
59:14
advantage of. But I, I think it's an argument,
59:17
yes, absolutely for self custody, but also for split
59:19
custody, right? If you have $330 million, each
59:22
type of custody has different risks.
59:23
Like I personally have funds and hot wallets and cold wallets on
59:26
exchanges through, you know, derivatives of ETFs and micro
59:29
strategies, right? So if you spread that risk
59:31
around across all different, you know, variables, I, I think it's
59:36
impossible to get taken advantage of to that magnitude
59:40
where you lose everything, right?
59:41
So, you know, there are risks that come with, you know,
59:44
trusting third parties and there's also risks that come
59:46
with you have to be responsible yourself, right?
59:48
So at our local Bitcoin meet UPS, you know, we deal with this
59:52
all the time where, you know, it sucks And you know, we, we walk,
59:55
we walk through individuals who they come to the Bitcoin meet up
59:59
and they tell us a sob story about what happens.
1:00:01
And, you know, we have to walk them through and, and, you know,
1:00:04
kind of build them up and help them start from scratch, teach
1:00:05
them about self custody, help them set up, you know, a cold
1:00:09
wallet and really have them really understand the
1:00:11
instructions of, Hey, this seed phrase is like, this is your,
1:00:15
this is your key to all of your money, right?
1:00:17
Like if you give this to anybody, it's like giving it to
1:00:20
a stranger at a gas station. You know, it's like giving your
1:00:22
wallet. The analogy that I always use is
1:00:24
like if somebody met you at, you know, 7-11 and said, Hey, you go
1:00:28
inside. Go and get your food.
1:00:29
Let me hold your wallet for you with all your money in it.
1:00:31
Like someone that you've never met before.
1:00:33
It's the same thing, you know, if you give somebody your seed
1:00:35
phrase. So it's an argument for, you
1:00:38
know, a personal responsibility, which Bitcoin is.
1:00:40
You know, Bitcoin really is like, represents personal
1:00:43
responsibility in in, in so many ways, right?
1:00:46
So, yeah, sad situation. What do you got out there?
1:00:50
Yeah, totally. I mean, the, the biggest part
1:00:54
for me is, and I always get crap because I, I usually, you know,
1:00:57
I'm not so nice to boomers, but you know, elderly person holding
1:01:01
3000 coins for since 2017. Like that is I think signal here
1:01:06
of like, hey, there's some people with deep wall, etcetera.
1:01:09
Or, you know, some of the whales here are not just young kids
1:01:12
into this. And I I think that's kind of a
1:01:14
very interesting point of the story.
1:01:17
And I was trying to look at the, the thread in this article
1:01:19
doesn't really say as well, but with it's still unclear whether
1:01:24
this was coming from an exchange or like a like a personal, you
1:01:27
know, cold storage of sorts. So either way, it it's the point
1:01:32
still remains the same. The social engineering is
1:01:34
getting, you know, pretty, pretty complicated and complex.
1:01:38
And I think this is only going to increase.
1:01:41
And This is why, you know, the education of how to hold your
1:01:44
Bitcoin is super important. And one of the things I was kind
1:01:47
of reminded is if you guys watched June 6th podcast and he
1:01:53
was talking with the social engineering hacker kids.
1:01:56
So if you haven't seen those, I highly recommend you guys go
1:01:59
watch those and you can kind of see what they, you know, what
1:02:03
they do to social engineer you. He is very small claims on
1:02:06
Twitter, I forget what his podcast is called, but he he
1:02:10
recorded a couple of these and there was actually another one.
1:02:12
I think it was forget who it was.
1:02:16
It might have been Phil Geiger or someone from Unchained, I
1:02:18
believe. Oh, no, no, it was it was Casa.
1:02:20
It was Nick Newman who also recorded one of these.
1:02:23
So like, if this is something that you're interested in, there
1:02:27
is, you know, live examples and recordings of how this process
1:02:30
plays out. Now, I think the, the main thing
1:02:33
here is probably like, if you do get some of these emails or scam
1:02:36
text about it, just completely ignore them.
1:02:39
You, you know, as as Maddie was saying, like you shouldn't be
1:02:41
giving people any of this information at all.
1:02:44
And obviously there, there is unfortunate situations where
1:02:47
people just wrecked themselves, but this is the importance.
1:02:49
Like, look, I, you know, I don't mean to be crass here, but if
1:02:52
you're holding 3000 Bitcoin, you should probably, you know, look
1:02:56
into self custodying that Bitcoin like very diligently and
1:03:00
and take the risk as if it's worth, you know, your life
1:03:03
because that is a shit ton of money, you know?
1:03:05
Losing at least having the advice right, like pay for pay
1:03:08
for some experts, right. It's the perfect market
1:03:11
opportunity for, you know, Costa, like you guys mentioned
1:03:13
in sponsor, like shows you how early we are with everything.
1:03:16
Like there's huge, huge opportunity for Bitcoin
1:03:19
companies and companies in the space, right?
1:03:22
To step up here and fill this niche, fill this void and reach
1:03:25
these people, right, that are have $300 million in the hot
1:03:28
wallet or exchange wallet, right?
1:03:30
Like don't know what they're doing, don't understand, you
1:03:33
know, crazy, crazy. I mean like if you got, if I got
1:03:35
$330 million worth of something, I'm hiring, I'm gonna pay
1:03:38
$100,000 to, to have, you know, experts guide me, help me,
1:03:42
educate me, whatever it may be, really do the due diligence
1:03:45
right, so. Yeah, totally.
1:03:46
It is it's definitely a crazy story and you know, my heart
1:03:49
goes out to to that person there.
1:03:51
I I could only imagine what they're feeling.
1:03:54
I also, you know, when I was first in Bitcoin, I, you know, I
1:03:57
got scammed from some coin and I know how that felt and it was
1:04:01
nowhere near as much as 3000 bitcoins.
1:04:03
So you know, it's that's devastating, absolutely
1:04:06
devastating. So, you know, that's that's
1:04:09
unfortunate to hear, but I think I think our points are being
1:04:13
made that there is there is a lot of tools out there to help
1:04:16
yourself and you know, shouts out to all the companies out
1:04:19
there that are that are ensuring and making sure that people are
1:04:23
code code storing it Casa. Go check out Casa.
1:04:27
It's it's in the it's in you know, it's in the it's in the
1:04:31
video description, the podcast description.
1:04:34
Even if your computer gets compromised, even if you click
1:04:37
on the e-mail again, they'll they'll, they'll, they'll
1:04:40
protect you from this, these types of shenanigans.
1:04:43
And of course, get yourself a hardware wallet, the best one in
1:04:47
the industry, which is the cold card.
1:04:50
You can use promo code simply to get 5% off.
1:04:52
By the way, if you sign up to Casa and use the promo code
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simply or the link, you get 10% off to the the different Casa
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tiers. So anyways, guys, we're going to
1:05:02
get to the culture segment. We're going to be talking to Mr.
1:05:05
Maddie Ice about Bitcoin mining. So we will be right back.
1:05:11
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All right, everybody, Rumble viewers flipped.
1:07:16
Oh my God, Rumble viewers. It did for a second.
1:07:19
Now it's it's, oh, it's tied. Rumble Rumble viewers are tied
1:07:24
with YouTube viewers. Shout out to the Rumble
1:07:27
audience. Big breaking, massive breaking
1:07:29
air horn, breaking air horn Opti please.
1:07:33
So we got Mr. Maddie Ice in the house.
1:07:37
Maddie Ice is a Bitcoin entrepreneur, Bitcoin miner.
1:07:41
Maddie, how you doing man? How you bro?
1:07:43
How how is how is the mining industry doing right now with
1:07:46
this chop solidation? Are you alive?
1:07:49
Are you OK? Do you need do you need CPR?
1:07:53
No, we're good, man. I mean, really it's all about
1:07:55
strategy, right? So that there's a lot that goes
1:07:57
into it, but you, you want to try to get, you know, solid
1:07:59
machines with low electric rates, right?
1:08:01
So, you know, if you set up your operations strategically, right,
1:08:06
you know, you can, you can still be alive and doing very well and
1:08:09
positioned for, you know, a massive price increase at some
1:08:12
point, which is Bitcoin mining is very similar to, you know,
1:08:15
dollar cost averaging and holding Bitcoin, like you said,
1:08:17
there's, there's these short periods of time that make it
1:08:20
very, very worthwhile, right? Mining is, is much the same way
1:08:23
where you want to be deployed, you want to have your machines
1:08:25
operating because it's very hard to put up machines.
1:08:27
It takes a lot of time. It's extremely CapEx intensive.
1:08:30
You know, it's very hard to build out infrastructure for
1:08:32
mining at, at scale. So you know, you have to kind of
1:08:35
do the work ahead of time. You can't just, oh, Bitcoin's
1:08:37
going crazy. Miners are making a lot of
1:08:39
money. And then you try to deploy,
1:08:40
which is pretty much what happened with all the public
1:08:42
mining companies last cycle. And they're just, you know,
1:08:45
taking getting wrecked at the top, you know, taking loans and
1:08:48
margin at the top. Quick, quick detour though,
1:08:51
your, your sponsor Leaden. That's a prime example.
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We talked about Bitcoin banks like that banks will exist in
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the future there. There's a prime example of it,
1:08:58
right? Like Bitcoin banking at its
1:09:00
core, you have this, this hardest money to ever exist,
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this pristine collateral that you can borrow Fiat off of.
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I mean, that's like, you know, it's brilliant.
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I love it. Yeah, 100% again.
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The Bitcoin is again the best collateral in the world and you
1:09:16
don't want to sell your Bitcoin. So you know, obviously let in,
1:09:19
you know, let in allows you to do that, right.
1:09:21
So, but again, these are all like tools that you know, you
1:09:25
can use to your advantage to obviously, you know, enjoy or or
1:09:33
make this, this this utilize Bitcoin to achieve your
1:09:42
financial goals or financial goals and also sovereignty too.
1:09:46
Like let's let's be honest here. Like that's what Bitcoin does.
1:09:49
It helps you achieve sovereignty from not only financially, but
1:09:55
sovereignty just it gives you the ability to vote with your
1:09:58
feet, which I think is extremely, extremely powerful.
1:10:01
So let's talk a little bit about more about mining, man.
1:10:04
So you were essentially making the case that like look like,
1:10:09
you know, it's all about essentially, you know, buying
1:10:13
the right machines at the right time, right locations.
1:10:16
Could you talk a little bit about that?
1:10:19
Sure. Yeah.
1:10:21
So we've, we've got machines everywhere, different
1:10:25
generations of machines. But depending on, you know, the
1:10:28
machine, you're willing to take more risk in certain scenarios
1:10:32
because they're maybe they're older or they're cheaper and you
1:10:34
have lower electricity rates and sketchier jurisdictions, I guess
1:10:37
I would say. Or you've got newer machines
1:10:40
that you want to place in locations that you feel have
1:10:42
stronger property rights. You feel safer with them there.
1:10:46
You might be paying a little bit higher electricity cost, but
1:10:48
it's worth it because you've got, you know, state-of-the-art
1:10:50
machines, kind of like if, if you're thinking about iPhones,
1:10:53
right, there's the newest, the brand new Pro Max, this current
1:10:56
model, right? Like, you know, that, that, that
1:10:59
model is the most profitable and you can pay a little bit higher
1:11:01
electric rate, you know, and you want to have that in a safer
1:11:03
spot. It's a more expensive machine.
1:11:05
But if you've got like iPhone fifteens from like, you know, 2
1:11:07
generations, you can place those in other jurisdictions, in other
1:11:10
locations. They're very cheap And, you
1:11:13
know, you search, search out the cheapest power, which also might
1:11:17
coincide with being in a riskier jurisdiction politically or, you
1:11:20
know, any other kind of like that.
1:11:23
Yeah, 1100 what so and OK, so different, different machines,
1:11:28
different jurisdictions obviously that that's working to
1:11:32
your advantage. I like from like a regulatory
1:11:34
perspective. Now could you talk a little bit
1:11:36
about the different sites that you guys have?
1:11:39
So are you guys using hydro? Are you guys using like grid
1:11:43
energy? What are you guys using?
1:11:46
Literally everything, everything and all of the above, right?
1:11:49
Like I just visited a natural gas site.
1:11:52
I, I literally I'm on 2 hours of sleep right now.
1:11:54
I just got back from flew into Kansas City.
1:11:56
It was a nightmare. There were storms.
1:11:58
We spent 7 hours sitting in Saint Louis and you know,
1:12:01
arrived at 5:00 AM yesterday, 6:00 AM, had to see a site at
1:12:05
9:00 AM flew back last night, got stuck in Charlotte, had to
1:12:09
go to West Palm Beach and, you know, take an over 3 hours back
1:12:12
to my house here in South Florida.
1:12:14
So it's, it's been crazy, but every kind of, you know, set up
1:12:19
you could imagine, right? Like I've got, I'm going to Abu
1:12:23
Dhabi in two days to visit a, a site there that's a natural gas
1:12:28
in the middle of the desert, right?
1:12:29
So. Have you seen that mining has
1:12:34
expanded like because if you look, if you look at the hash
1:12:39
rate, you know, has mining expanded or has it, you know,
1:12:48
what is the state of the mining industry today?
1:12:50
Well, it's it's competitive right now because hash rate
1:12:53
keeps going up and the price hasn't, you know, necessarily
1:12:56
coincided with that. So it does require, you know, a
1:13:00
level of know how to make sure that you're deploying
1:13:02
efficiently and you're not going to be in the red, right, That
1:13:04
you can always that you can make sure you're in the green.
1:13:07
So you can be alive when, you know, all the fundamentals come
1:13:11
in play and you know, price does what we all think it will do,
1:13:14
right. So you'll really capture that
1:13:16
arbitrage that spread. But yeah, I mean, mining
1:13:19
difficulty right now is, is near all time highs, right?
1:13:22
There's which is fundamentally bullish.
1:13:24
It means that people believe in this network, they believe in
1:13:26
providing security for this network.
1:13:27
They believe this network is going to grow, right?
1:13:29
Like we, we talked about all the fundamentals and stuff that you
1:13:32
mentioned earlier, like that's why you know, I'm seeing all
1:13:35
this and like I'm just deploying, deploying, deploying.
1:13:37
And you know, we have a aspect of our business that has taken
1:13:40
off recently where we've, we've got others that are coming to us
1:13:42
with millions and saying, hey, deploy, deploy, deploy.
1:13:44
I was like, OK, we'll, we'll, we'll do it right.
1:13:46
Historically, we've, we started my, my company, I started with,
1:13:50
I literally started in like in a bedroom in my house, right, like
1:13:53
back in 2015 and just kind of scaled and bootstrapped.
1:13:55
And we've historically just deployed our own stuff.
1:13:57
But you guys know John, John Drew who's running Bitcoin day.
1:14:03
So he's, he's the head of, he also does, he's like the head of
1:14:06
our curated mining stuff. And he, he's, he's been doing
1:14:10
great job and just brought in a lot of new investors that we
1:14:14
kind of just, we partner and we basically act as the property
1:14:17
manager and, you know, bring our expertise to the equation and
1:14:20
just deploy the, their capital, set it up in an LLC for the
1:14:24
depreciation expenses you can get on the machines, which is a
1:14:26
lot of investors like that. And we just manage everything
1:14:30
end to end, you know, and we get sweat equity in the, in the
1:14:33
entity. So if it makes money, we all
1:14:35
make money. If it doesn't, we don't make any
1:14:36
money, nobody makes money. So got to be very strategic
1:14:39
deploying that capital and lean on a decade of experience of of
1:14:43
know how of knowing how to do it effectively, efficiently and and
1:14:47
profitably. OK, Maddie.
1:14:50
I, I have a question here, maybe for the audience out here.
1:14:53
We, we do get a lot of people asking us like, is now a good
1:14:56
time to be mining? Should I go into mining?
1:14:59
You know, there's a lot of talks about maybe, you know, I, I
1:15:02
can't do it myself, maybe host miners, etcetera, etcetera.
1:15:05
So from your opinion, someone that's been doing this for a
1:15:07
long time, is now a good time to, you know, think about mining
1:15:11
versus just DCA ING like what what would be your take on that
1:15:14
conversation? The way I look at mining is like
1:15:17
dollar cost averaging on steroids, right?
1:15:19
Like you're buying this machine that is contributing security to
1:15:22
the to the Bitcoin blockchain. You know, you're participating
1:15:24
in the system, you're really understanding this idea of cost
1:15:27
of production, right? Because there's an energy,
1:15:29
there's a real cost, there's an energy cost proof of work that
1:15:32
you have to pay, right? And then you get Bitcoin that's
1:15:34
worth more than that, hopefully if you're doing it well.
1:15:37
So there's that arbitrage there. So I think it's always a a good
1:15:41
time to get into mining. If if like, you know, on A at
1:15:43
least on a small scale, like if you want to just contribute to
1:15:45
the system, start as a hobby, learn about it.
1:15:48
There's plenty of hosting sites you can use just to get your
1:15:50
feet wet. You know, if you want to do it
1:15:52
through a host, there's block Ware.
1:15:53
There's stuff like compass where you can just buy one or two
1:15:56
machines and just get your feet wet, right.
1:15:57
Like understand it. I really love block Ware.
1:16:00
Those guys are really good over there.
1:16:01
So, you know, we work closely with them.
1:16:02
We deploy a lot of a lot of our customers that come to us, that
1:16:07
partners. We we deploy with a lot of their
1:16:09
facilities and have really good negotiations and deals with
1:16:12
them. But just to get your feet to
1:16:14
understand the economics of it, you know, or you can go online
1:16:17
and buy like a bid axe or you could buy like an older S 9 and
1:16:21
put it in your garage, right. So just just to kind of
1:16:23
understand, you can hear, hear the actual computer, the machine
1:16:27
that the ASIC really hum, you know, like a cyber Hornet or
1:16:31
those little bit axes are really small.
1:16:33
You can just plug it in your computer and you can kind of get
1:16:35
an idea of of what mining really is.
1:16:38
But if you're going to go at scale and and do stuff, you
1:16:42
know, I don't recommend just jumping into that.
1:16:43
If you don't know what you're doing, right, you're you're
1:16:45
going to get burned. And we saw that with a lot of
1:16:47
publicly traded companies that did this last cycle and really
1:16:50
had no business. Like I'm looking at what they're
1:16:52
doing. I'm like, what the fuck are
1:16:54
these guys doing? They're like buying S 19 K pros
1:16:56
at like $15,000 a machine, like at the peak of a cycle.
1:17:00
I'm like, these guys, guys are going to get wrecked.
1:17:02
Like who is giving them money to do this?
1:17:04
Like this is insane, right? Because you know, once you've
1:17:07
been through a couple cycles, you know, you learn from
1:17:09
experience, you kind of see what you get an understanding of it.
1:17:12
So this industry, everything we're still, I believe still in
1:17:15
its infancy, very much so in its infancy, so.
1:17:19
Even even now, even now you would say that that we are still
1:17:25
Bitcoin is still in its infancy. I really think so, man, I, if
1:17:28
you look at the scale of capital of the world and the, you know,
1:17:31
the trillions and trillions of dollars of value and you like
1:17:34
bitcoin's at like 2 trillion, gold's at like 25 trillion or
1:17:36
something like that. And like, you know, there's like
1:17:38
negative yielding bonds at 20 trillion, other bonds at
1:17:40
hundreds of trillion. Like it's just, we're so early
1:17:43
still. And then I think as, as time
1:17:46
goes on too, there's, there's geopolitical aspects of the
1:17:50
equation, right? If, if Bitcoin really ends up
1:17:52
being what we truly believe it will be, right?
1:17:54
Which is like this decentralized global money that is like the
1:17:57
base layer for all of humanity, right?
1:17:59
Like it's going to be important if you want to make sure that
1:18:02
your transactions aren't censored to have hash rate
1:18:03
within your country, to have hash rate within your borders if
1:18:06
you're a nation state, right? So there's all sorts of levels
1:18:09
to this thing. But yeah, I think I, I still
1:18:10
think it's worked very, very early.
1:18:13
That that's my personal opinion. Dude, I mean, bro, that's
1:18:17
that's, that's absolutely crazy. Like specifically with like, you
1:18:21
know? I'm mining with two bit X gammas
1:18:23
right now. I'll be crushing Matty ice one
1:18:25
side win win the Bitcoin lottery.
1:18:27
Good luck, brother. Honestly, I I hope you hit it
1:18:29
Thomas. We really do, bro.
1:18:31
Unfortunately, I've got like investor partners and and like
1:18:33
we've got a mine on a pool because we have to the electric
1:18:36
bills are like 6-7 figures, so we can't be playing the lottery.
1:18:39
But I love it. I'm so happy when people hit,
1:18:41
like hit a lot, hit hit the get to solve the block and win the
1:18:45
big with the but I mean, do realize that you're literally
1:18:47
playing the lottery. I mean that's what that is,
1:18:48
right? That's.
1:18:49
Literally what it is, but, but there is going to be a winner.
1:18:51
There is going to be a winner, right?
1:18:53
You're literally playing the, the, the, the lottery right
1:18:55
there. There is going to be a winner
1:18:57
anyways. Opti, do you have any more
1:18:59
questions for? Matt, I mean, I do I but I, I
1:19:01
really want to get just Maddie's take on what, what do you think
1:19:04
about the whole bid X phenomenon going on?
1:19:07
Not only them getting solo blocks, but more people, you
1:19:10
know, getting interested in Bitcoin mining and the the, you
1:19:13
know, cost of entry is literally what, like 120 bucks or
1:19:17
something like that. Do you think this will have an
1:19:19
actual effect on the decentralization of hash power,
1:19:23
or is this just kind of like a growing fat?
1:19:25
I, I don't think it's going to have, I, I personally don't
1:19:27
believe it. I mean, it's, it's such a small
1:19:29
scale. So you've got to realize like
1:19:30
when you look at one of these as 20 ones or ASICS, it's like
1:19:33
you've got 4 hash boards inside these machines, multiple hash
1:19:36
boards. And on those hash boards, each
1:19:37
hash board has, you know, hundreds of little chips, right?
1:19:40
So what a bit X is, is just one tiny little like one, one or two
1:19:43
of those little chips and they put it on a little thing you can
1:19:45
plug in a USB drive. So it's more, in my mind, it's
1:19:48
more educational and it's like a lottery thing, right?
1:19:51
Like you're playing the lottery and people have hit it, right?
1:19:53
So, you know, I don't hate on it at all.
1:19:56
I think it's, you know, it's cool, it's interesting.
1:19:57
You can learn. It's educational to really
1:19:59
understand, OK, this thing, you see this thing on your computer
1:20:01
and you hear it and like, you know, you can feel the heat.
1:20:04
It's like, even though it's super small, like you, OK, this
1:20:06
thing's using energy and it's providing hash rate to the
1:20:08
Bitcoin network. So I would say it's more of an
1:20:10
educational thing. Looks like you can skip on down
1:20:14
the road. He has a question.
1:20:15
If your cost of electricity is over $0.04 per kWh, why the fuck
1:20:19
would you mine at home? Well, skip it really depends on
1:20:22
your machine right? So like I know if you're mining
1:20:25
with the the state-of-the-art machines at home with like an S
1:20:28
21, you know, XP or whatever, it's like your, your cost of
1:20:31
power could be $0.10 and you'd still be technically in the
1:20:34
green right? You'd be making more Bitcoin
1:20:36
than you would be than you would be losing right by paying
1:20:38
electricity. So you would be above that
1:20:40
spread. Now, if you're mining with AS9,
1:20:43
you know, an older machine, No, like, yeah, you're, you're
1:20:45
you're going to be in the red. You might technically be getting
1:20:48
non KYC Bitcoin, but you're going to be paying more than you
1:20:51
would if you were just buying it on an exchange, right.
1:20:53
So there are a lot of factors besides just the cost per kWh,
1:20:57
right? Like so that that's just one
1:20:59
factor of the equation is how good is the machine, right?
1:21:01
If the machine's state-of-the-art, like, yeah,
1:21:03
you can. You can mine at home in the
1:21:04
green with one or two. I mean, you're going to use a
1:21:06
lot of power, and it's going to be really loud and your wife's
1:21:09
going to kick you, you know, be really upset if you're doing it
1:21:11
in the garage and the neighbors are going to complain.
1:21:13
But you technically could do it. Yeah, 100.
1:21:17
I mean, it's funny. We're talking about lottery
1:21:20
tickets. I yesterday went to the gas
1:21:21
station. I saw this guy.
1:21:23
He looked pretty well off, you know, like he was probably in
1:21:25
his 50s, late 40s, and he was buying lottery tickets.
1:21:29
And in my head I'm like, bro, what are you doing?
1:21:31
Like, I know it's like a game and people like it, but I just,
1:21:35
it made no sense to me. I'm like, why are you buying
1:21:37
lottery tickets? And then you go down the whole
1:21:40
like Fiat, like this is a encapsulation of the Fiat
1:21:43
culture. People spend a couple dollars to
1:21:45
try to get rich. But in my head, just as a
1:21:47
Bitcoiner, I'm like, you know, what's what's the better move?
1:21:49
Just like stacking that 10/15/20 dollars or, you know, buying
1:21:53
lottery tickets. But I know people love lottery
1:21:55
tickets. And I was just thinking, it's
1:21:57
probably never going away or dude, people have been gambling.
1:22:00
Like we, we found like ancient bones from like hundreds of
1:22:03
thousands of people going to cave and like they've got
1:22:05
markings on it. Like people are gambling.
1:22:07
Like it's just part of people like that.
1:22:08
Like have fun. They like to gamble.
1:22:09
There's no reason you can't do both.
1:22:10
There's no reason you can't buy a bit stacks, plug it in your
1:22:12
computer, let it run for two years and, you know, maybe win
1:22:15
the lottery at the same time, still stack 20-30 dollars of
1:22:18
Bitcoin per day or per week, whatever, whatever your
1:22:20
situation is, right? I mean, you could do both or put
1:22:22
a miner in your garage and just pay the electric bill, which is
1:22:24
kind of like dollar cost averaging and like, you know,
1:22:26
you're making more Bitcoin than you're paying, right?
1:22:28
You know, So there's nothing's mutually exclusive, I don't
1:22:32
think. Yeah, totally.
1:22:34
All right, Maddie. Well, we are getting towards the
1:22:36
end of the show and I do want to give you one last opportunity.
1:22:38
What would be the last advice to the audience from a Bitcoiner
1:22:41
that's been around since 2015? It could be about mining, it
1:22:44
could be about Bitcoin, whatever.
1:22:46
Whatever the last piece of advice you want to give to the
1:22:48
audience, what would it be? All right, I would say play long
1:22:54
term games with long term people, you know, there's that
1:22:57
aspect of it and and just dollar cost average and and tune out
1:23:00
like the short term stuff is like, you know, it's whatever,
1:23:03
but like look at the big picture.
1:23:04
I mean, Bitcoin is the best performing asset in all of human
1:23:07
history. I mean, if you really look at it
1:23:09
and zoom out, it's like, you know, like you said earlier,
1:23:12
nothing stops the strain. I mean, this train has left the
1:23:14
station, right? So I don't see anything
1:23:18
fundamentally. In fact, I see more stronger and
1:23:20
stronger fundamentals for Bitcoin stacking up for the big
1:23:23
long term play. So, you know, just tune out the
1:23:27
noise. Look at the big picture.
1:23:31
Hell yeah, man. I mean that's some solid advice
1:23:34
from someone who's been mining since 2015, someone who started
1:23:38
oh Rumble Rumble live stream 750 live viewers YouTube 511 bullish
1:23:48
on rumble man bullish on rumble it's.
1:23:51
It. Keeps going up almost 800 live
1:23:54
viewers on Rumble have. You guys been cancelled on
1:23:57
YouTube like they? So we were, you know, we were
1:24:02
I'm. So sick of YouTube.
1:24:04
We were. I love YouTube as a platform.
1:24:08
We were. We were.
1:24:09
We were accidentally removed from YouTube for for two days,
1:24:15
but it was an accident. And then we were very thankful
1:24:17
to get the channel reinstated. But in the meantime, in the
1:24:21
meantime, we were live streaming to Rumble and we we were able to
1:24:27
get a little bit more loose in terms of of what we were able to
1:24:31
say. But I'm thankful for all the
1:24:33
platforms that, you know, host simply Bitcoin and YouTube
1:24:36
Rumble X, all the audio platforms.
1:24:39
And I do want to thank our very, very special guest today, Maddie
1:24:42
Ice, for joining us on the show. Guys, we love you all Smash the
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like button. If you feel like we provided you
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It's extremely exciting. We're working at least it's
1:25:02
taking us five years. Soccer, bro, five years, right?
1:25:06
So yeah, appreciate all your guys support.
1:25:09
We love you all. Thank you so much.
1:25:11
Go check out our guests, Maddie Ice and we'll see you guys on
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