Latest / Simply Bitcoin / 436M People JUST GOT ACCESS to Bitcoin, this Changes Everything.. | EP 1084

Transcript

436M People JUST GOT ACCESS to Bitcoin, this Changes Everything.. | EP 1084 · Simply Bitcoin

• 0:00
  Well known company that makes a massive $409 billion worth of
• 0:04
  revenue every quarter just adopted Bitcoin.
• 0:07
  What happens if just 1% of that company's $409 billion quarterly
• 0:12
  volume goes into Bitcoin? We'll find out today.
• 0:15
  To give you perspective sailors, MicroStrategy had a has a yearly
• 0:19
  revenue of $450 million. The company we're going to
• 0:23
  expose today brings 1000 X more revenue and just one quarter
• 0:28
  when it takes MicroStrategy 1 year to achieve.
• 0:31
  The price is up by over 10% since Sailor announced last week
• 0:35
  that he plans to buy an additional $2 billion worth of
• 0:38
  Bitcoin. What happens if this company
• 0:40
  follows suit? Who is this company?
• 0:43
  Stay tuned to find out. Before we jump into it, I do
• 0:46
  want to bring up of course my legendary Co host Optimus Fields
• 0:49
  and our guests for our guests for today, Kamal and James from
• 0:54
  the Adopting Bitcoin conference and of course James is from BTC
• 0:59
  farmers market. So let's get let's jump straight
• 1:02
  into a gentleman shall we what am I talking about well, it's a
• 1:06
  behemoth you guys the name of course I'm talking about PayPal
• 1:09
  PayPal to allow cryptocurrency buying holding and selling for
• 1:14
  US merchants. The reason that this is such a
• 1:17
  big deal is at the end of Q 4/20/23, PayPal had 426,000,000
• 1:25
  active accounts and users who many transactions.
• 1:28
  In 2023, PayPal had 431 million users, which includes users who
• 1:34
  had who'd made at least one transaction that year.
• 1:37
  So again, these aren't inactive users.
• 1:39
  These are active users that are actively using the platform and
• 1:42
  against. And again, PayPal just added
• 1:45
  massive, massive functionality in terms of Bitcoin.
• 1:48
  This is breaking news. This happened yesterday after
• 1:51
  the live show. Let's get into some of the
• 1:53
  details, shall we? PayPal Holdings announced on
• 1:55
  Wednesday it is enabling US merchants to buy, hold and sell
• 1:59
  cryptocurrency from their business accounts.
• 2:02
  Cryptocurrency has moved from being a nascent asset towards
• 2:06
  greater market acceptance after Bitcoin ETFs were approved for
• 2:10
  listings by the USSEC earlier this year, Quote Business owners
• 2:14
  have increasingly expressed a a desire for the same
• 2:18
  cryptocurrency capabilities available to consumers, it goes
• 2:22
  on to say. PayPal joined the cryptocurrency
• 2:25
  market in 2020, allowing customers to buy, sell and hold
• 2:29
  Bitcoin and other virtual coins using the digital payments
• 2:32
  company's online wallets. The company became the first
• 2:35
  major financial technology firm to embrace digital currencies
• 2:38
  for payments and transfers when it launched its dollar back
• 2:41
  stablecoin in August 2023, and it goes on to explain
• 2:44
  stablecoins anyways. It goes on to say PayPal is also
• 2:48
  enabling US merchants to transfer cryptocurrency on chain
• 2:52
  externally to 3rd party eligible wallets.
• 2:55
  However, the services would not be available for business
• 2:58
  accounts in New York State. New York State, have fun staying
• 3:01
  poor. That is the the Bitcoin law that
• 3:03
  they have over there and it's hurting consumers tremendously.
• 3:06
  But it looks like for the rest of the United States, this
• 3:10
  capability will be allowed. And of course, the company
• 3:13
  shares have have gained nearly 26% this year in market value.
• 3:19
  So let's talk about this really bullish news.
• 3:22
  One of the things that I want to talk about, ladies and
• 3:24
  gentlemen, is again, merchant adoption, right?
• 3:28
  The fact that it's now that businesses have the capability,
• 3:32
  right to buy, sell, hold and now send Bitcoin off the platform is
• 3:37
  extremely bullish because we all know what happens when
• 3:40
  individuals adopt A Bitcoin standard.
• 3:43
  We now know what public companies, what happens to
• 3:46
  public companies when they adopt A Bitcoin strategy.
• 3:49
  Michael Saylor's the companies outperforming every other
• 3:52
  company in the S&P 500. And we now know what nations,
• 3:55
  what happens to nation states when they adopt A Bitcoin
• 3:58
  strategy. Of course, I'm talking about El
• 4:00
  Salvador and the Himalayan Kingdom of Bhutan, right?
• 4:04
  Good things happen, happy happiness happens, hope happens.
• 4:08
  So I just got to say, man, this is extremely, extremely bullish
• 4:13
  because this tells me that at least a small percentage of
• 4:17
  those companies that use PayPal services are, are now going to
• 4:21
  have Bitcoin on their company treasury.
• 4:24
  Why would PayPal introduce this if the market wasn't asking for
• 4:29
  it? These are merchants, by the way.
• 4:31
  These aren't individuals. These are merchants.
• 4:34
  These are people that are using PayPal as a point of sale that
• 4:39
  are basically saying, hey, you know, why don't we have the
• 4:42
  capability as a company to buy, sell, hold and send Bitcoin.
• 4:47
  What's going on there? So this is extremely bullish
• 4:50
  from an adoption standpoint. PayPal is a massive, massive,
• 4:54
  massive company. I think it's just a matter of
• 4:57
  time before one of the big seven tech companies follows in the
• 5:01
  footsteps of MicroStrategy, follows in the footsteps of
• 5:04
  Tesla. And again, shout out to PayPal
• 5:07
  for giving this functionality. And one of the things that I
• 5:09
  didn't like about PayPal when they initially announced this is
• 5:12
  that they didn't allow withdraws.
• 5:14
  So they allowed the purchase of Bitcoin on their platforms, but
• 5:18
  they didn't allow people to take self custody, of course, because
• 5:21
  of market pressures, because of their competitors, they
• 5:24
  eventually had to bend the knee and now they allow people to
• 5:27
  withdraw off the platform and to send to self custodial wallets.
• 5:31
  And it looks like they're doing the same thing with merchants as
• 5:33
  well. And again, I'm very, very
• 5:36
  bullish as a Bitcoin own, as a, as a Bitcoin focus company with
• 5:41
  part of our treasury and Bitcoin.
• 5:44
  It makes me very, very happy that potentially non Bitcoin
• 5:48
  companies could follow in the footsteps and potentially put
• 5:52
  one to 10% of their treasury reserves in Bitcoin.
• 5:57
  And just by putting those small allocations, they'll be able to
• 6:01
  beat the loss of purchasing power incurred by them due to
• 6:06
  inflation. Anyways, I'm going to pass it on
• 6:08
  to our guest today to get his thoughts on the PayPal news
• 6:12
  Kamal from Adopting Bitcoin. Your thoughts welcome on the
• 6:15
  show. Hey guys, thanks for having me.
• 6:19
  Yeah, good news. Like I've been using a PayPal
• 6:24
  like 15 years ago or so when I was living in Germany.
• 6:29
  Was very practical, had good integration on the net.
• 6:33
  If you want to, you know, send their own money between friends
• 6:38
  and stuff nowadays here in Turkey, I can't use it.
• 6:44
  It's banned for a couple of years now.
• 6:47
  So it's not even available to Turkish citizens.
• 6:51
  And yeah, I mean, of of course it's great that they do this and
• 6:55
  but I would actually actually say they have to like there,
• 6:57
  there, there is nothing else they can do, right?
• 6:59
  Like they have to skate where the puck is going and and not
• 7:03
  where it is. They have to grow.
• 7:04
  They have to adjust to the changing ecosystem and changing
• 7:09
  it is right. For example, here we also see
• 7:13
  other financial institutions in Turkey, you know, always high
• 7:17
  high up on the list of places with high crypto adoption or
• 7:20
  Bitcoin adoption here. Now all the banks are trying to
• 7:25
  get into this business of buy and sell Bitcoin and hold it on
• 7:29
  behalf of their customers. Why?
• 7:31
  Because it is one of the most in demand business businesses out
• 7:38
  there in this area in, in the financial markets, It's new and
• 7:43
  people and, and companies can grow into this market and add
• 7:47
  new revenue streams. And, and that's what all they
• 7:49
  want to do. So they, they've not become like
• 7:51
  big Bitcoin believers or something.
• 7:53
  They just want to make money and that's fine.
• 7:56
  They see that there's an opportunity.
• 7:57
  They see where the market is going, that the group demand is
• 8:00
  growing, that users are asking for it, that their competitors
• 8:04
  are offering it. And now it's just, you know,
• 8:06
  it's called Sutvan. They have to do it too, right?
• 8:09
  If they don't, they will be annihilated like dinosaurs.
• 8:12
  Yep, they'll get left behind. Absolutely.
• 8:14
  Aren't market incentives beautiful?
• 8:16
  You go from Larry Fink saying that Bitcoin quote is an index
• 8:20
  of money laundering in five years.
• 8:22
  He bends the knee and he's, you know, touting Satoshi's gospel.
• 8:26
  And Paypal's the same. You know, you could make an
• 8:28
  argument that Bitcoin is a competitor to PayPal, but they
• 8:31
  have no choice but to include it in their business strategy or
• 8:35
  else they get left behind. They they risk themselves
• 8:38
  getting left behind. So that's a really, really good
• 8:40
  point. Kamal.
• 8:41
  I want to pass it on to James. James, welcome to the show.
• 8:44
  By the way, for anyone who doesn't know, James is also part
• 8:46
  of adopting Bitcoin, but also the famous BTC farmers market
• 8:51
  and El Salvador. James, we're very, very happy to
• 8:53
  have you join us. How you doing?
• 8:56
  Doing great mate, thank you for having me on the show.
• 8:59
  And yeah, super interesting news already PayPal, I echo a lot of
• 9:04
  Kamal sentiments there. I think one of the interesting
• 9:06
  things that could potentially happen, well, if they do just
• 9:10
  allocate 1% of their treasury to Bitcoin on a long, long term
• 9:15
  time play, that 1% becomes 10% of their treasury and so on and
• 9:19
  so forth for the the further we go down the line.
• 9:22
  So it'll just be interesting to see how that actually plays out
• 9:25
  in the future. 100% I 100% agree with that, right?
• 9:29
  And I think that starts with a lot of a lot of, you know, a lot
• 9:32
  of people, right? You allocate that 1% of your
• 9:35
  treasury to Bitcoin and then that 1% starts outperforming the
• 9:39
  rest. And then what do you do?
• 9:40
  You're like, OK, maybe we should put two and then you're like,
• 9:43
  maybe we should put three and then you become a maxim.
• 9:46
  And maybe it's like we should put 100, hey, we should mortgage
• 9:48
  the house and put 125%. That is not financial advice.
• 9:52
  That's a half joke. Opti, What?
• 9:54
  What's your take on all this, brother?
• 9:57
  Well, first of all, my thought is obviously I think this is a
• 10:01
  good a good development considering that one of the
• 10:04
  biggest flood lines in regards to Bitcoin is that, hey, I
• 10:07
  thought This is Money and no one accepts it.
• 10:10
  And now basically every PayPal merchant can now accept Bitcoin
• 10:14
  if their customers so choose to pay in Bitcoin.
• 10:17
  So that's obviously a very good development.
• 10:20
  And now I think we'll start to see other companies do something
• 10:23
  very similar where hopefully soon enough you walk into every
• 10:26
  store possible and with all of their point of sale systems, you
• 10:30
  can easily pay in Bitcoin. I think it might be a slow
• 10:33
  development. I was actually thinking about
• 10:35
  this the other day. Just like how long it took for
• 10:38
  us to go from just pure swiping credit cards to now like pay to
• 10:43
  tap everywhere you go. And it's still rolling out.
• 10:45
  And so I, I really was thinking about this week, about how long
• 10:49
  is it going to take until we get every point of sale terminal out
• 10:52
  there just accepting Bitcoin natively, which would obviously
• 10:55
  be good. And I mean, if you have an
• 10:57
  Internet or e-commerce site, I think it especially if it's
• 11:01
  going to be as easy as you're already connected to PayPal and
• 11:04
  you kind of just like, you know, toggle on this new feature, It
• 11:08
  makes it, it's like a no brainer to add Bitcoin into your
• 11:11
  e-commerce site if it's this simple, if you're already using
• 11:14
  PayPal. So love to see that not only is
• 11:17
  it merchants wanting to accept Bitcoin and of course customers
• 11:20
  wanting to pay in Bitcoin, but that PayPal has met the need to
• 11:24
  Bitcoin. And I think we're going to see
• 11:25
  other companies do this as well. Though there was a little bit of
• 11:29
  weird wording in that Nico, that is a little iffy as far as I'm
• 11:33
  concerned. It said eligible third party
• 11:36
  crypto wallets, which I I don't know what that means.
• 11:39
  I think they're only allowing certain to transfer out into,
• 11:45
  which is obviously I would say a bad feature, but I think as the
• 11:50
  market starts to evolve and people start to kind of educate
• 11:53
  themselves on Bitcoin and not leave their Bitcoin on PayPal,
• 11:57
  they'll probably bend the knee on that as well.
• 11:59
  That's like the only caveat to that news that I found kind of
• 12:02
  interesting, that literal word of eligible crypto wallets, it's
• 12:05
  like as long as they're using the protocol, it's an eligible
• 12:08
  wallet. Like what it?
• 12:09
  What it? What does?
• 12:09
  That even mean, I think, like I said, I think it's it's like
• 12:13
  I've been saying these last couple months, I think that
• 12:14
  they're trying to put the old system on top of the new system
• 12:20
  and they're basically getting to they're trying to convince the
• 12:23
  public that, you know, some self custody like, you know, you,
• 12:28
  you, you, you, you hear this in their language, right?
• 12:31
  When they, when they phrase stuff like, you know, this is a
• 12:35
  self custodial wallet. Like the way that that's phrased
• 12:40
  is like as if it's the as is, as if it's the abnormal, as if it's
• 12:46
  not the norm, right? In the Satoshi white paper,
• 12:49
  there's no such thing as a self custodial wallet, right?
• 12:52
  That's something that the government needs to create out
• 12:55
  of thin air in order to justify certain laws.
• 12:59
  So I think market forces are going to take care of this just
• 13:02
  like they took care of Robin Hood.
• 13:04
  Robin Hood initially didn't offer self custody and then at
• 13:08
  look Lightning goats is bullish. It's about freaking time.
• 13:11
  PayPal ads merchants. So Robin Hood didn't allow self
• 13:15
  custody initially, neither did PayPal, and then when they were
• 13:19
  getting their ass handed to them by Cash App, which of course is
• 13:23
  being led by Jack Dorsey, who is a huge fan of Bitcoin, they had
• 13:26
  to, they had to pivot or they were going to be like dinosaurs
• 13:29
  like Kamal was saying earlier on in the show.
• 13:32
  Anyways, guys, stay tuned because it's going to be a
• 13:34
  loaded show today. We have more information.
• 13:37
  We have Gary Genser getting owned once again on Squawk Box
• 13:41
  on CNBC and he's once again reiterating that Bitcoin is not
• 13:46
  a security. I mean, we all know this, but he
• 13:49
  surely is treating it as if it was the security yearly.
• 13:53
  He surely is saying one thing and then treating the industry
• 13:57
  like, you know, very badly. And then in other news as well,
• 14:01
  Kamala Harris finally has mentioned it's not crypto, it's
• 14:06
  not Bitcoin, but she's mentioned the word blockchain.
• 14:09
  Now. To me, the reason that I don't
• 14:11
  find that so optimistic is you could put in a CBDC and a CBDC
• 14:15
  could technically be a blockchain.
• 14:17
  So but it is a step in the right direction I would say.
• 14:20
  Anyways guys, stay tuned because we still got a lot to cover.
• 14:23
  Let's get into the show. Here we go.
• 14:25
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  All right, everybody, let's get to the numbers.
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  has been issued. Anyways.
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  Here's a clip of Gary Gensler on Squawkbach yesterday.
• 17:45
  I want to know. I want to know what you guys
• 17:47
  think. Are you guys fans of Gary
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  Gensler Opti? Let's set up the poll on YouTube
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  so we can ask the crud. Let's check it out.
• 17:54
  Let's check out this clip. But there's some argument to be
• 17:56
  made that you want this. They actually would be better if
• 17:59
  all of this business was happening in the US.
• 18:00
  You talk about an SPF obviously that was taking place in the
• 18:03
  Bahamas and you know, a lot of people were trying to do things
• 18:06
  in other places. If it if, if there was a real
• 18:09
  regime here that everybody could trust and, and, and we had
• 18:13
  established rules and there weren't these questions about
• 18:16
  whether you were going to over, you know, go over the line or
• 18:18
  you're behind where the line was, would that be better?
• 18:22
  I think that we do have those. So you think those lines exist?
• 18:25
  Why then why do people in the industry say that they don't
• 18:28
  know what the rules are? Look, not liking the roles is
• 18:31
  not the same as that. There aren't roles.
• 18:33
  And I think there's a lot that have profited off of the
• 18:37
  public's interest in this field, but profited without the proper
• 18:40
  disclosures. And inherently, there's business
• 18:43
  models that are have a lot of conflicts.
• 18:45
  And we've seen the results of that time and time again outside
• 18:50
  of crypto and inside of crypto, we see what happens when they're
• 18:53
  so inherent conflict. So we've got 90 years of
• 18:56
  experience with this, Andrew, it, it, it works reasonably
• 18:59
  well. We've got the deepest, most
• 19:01
  liquid capital markets. We're trying to make them more
• 19:04
  efficient. What we're doing in the equity
• 19:06
  market. I think you're more of a
• 19:08
  treasury market to top tier crypto.
• 19:10
  That's that's my take. What's that?
• 19:12
  I think you're warming up to top tier crypto.
• 19:16
  I don't think you think it's a monolith.
• 19:18
  I think you think there might be some actual usage or benefit the
• 19:24
  top tier crypto. Have I got did you say that
• 19:27
  recently? You're evolving to where?
• 19:29
  Go ahead Joe, where are you on what's called aught coins?
• 19:32
  There's 15 or 20. That's what I where are you?
• 19:35
  But you when when you came in, you said, yeah, you know that I
• 19:38
  probably only own Bitcoin and you you act like that's OK for
• 19:41
  me because I don't own all the all the garbage.
• 19:44
  I think you were thinking so I I just get to feel garbage was
• 19:47
  your word. I know, but am I?
• 19:49
  Are you worried about the? Tower.
• 19:50
  It was not that kind of a word that.
• 19:52
  Yeah, actually, Joe, for the public used a stronger word than
• 19:56
  garbage. I did.
• 19:57
  But are you warming up to, do you see that?
• 20:00
  That it's probably here to stay in something that could be
• 20:03
  useful? This is something I said to
• 20:05
  students four and five years ago.
• 20:07
  I know, but you didn't say it to once you were the SEC chair.
• 20:09
  No, no that. This field will not long persist
• 20:14
  without investor protection or consumer protection number two.
• 20:19
  Number two, many of these projects without prejudging
• 20:23
  anyone are tapping into the public's interest to raise
• 20:26
  money, raise money. That's the classic securities
• 20:30
  sort of protections that you put on place.
• 20:35
  You can, you can decide to go long or short these projects,
• 20:43
  but you need the disclosures and and as it relates to Bitcoin, my
• 20:48
  predecessor and I have said that's not a security.
• 20:52
  You now have a way that you can actually express that view, buy
• 20:55
  into that through exchange traded products traded on
• 20:59
  NASDAQ, traded on New York Stock Exchange and the like.
• 21:03
  OK, that's a yes. That if we were, Where do you
• 21:06
  think Bitcoin is going to be in our society 20 years from now?
• 21:11
  I don't, I don't, I don't really have any idea.
• 21:14
  I don't know. I mean, there's 7 billion people
• 21:16
  around the globe. I'm not going to make a
• 21:19
  prediction as to anyone project. But what I would say is the
• 21:23
  field is going to have a challenge building trust.
• 21:28
  And it already has a challenge building trust when there's so
• 21:33
  many fraudsters, scammers, grifters in the field.
• 21:36
  And then there are. But what happened?
• 21:38
  So again, like I think that the SEC is, sorry, Opti, I know I
• 21:47
  read your mind, but I look, I think that the SEC has been used
• 21:54
  for political purposes. I think when they bring up
• 21:58
  things like trust, when they think, when they bring up things
• 22:02
  like consumer protection, I think that is a veiled veneer to
• 22:07
  justify a lot of their actions that have been quite hostile
• 22:11
  towards the industry. The fact is that they weren't
• 22:14
  able to stop SPF. The fact is that the Winklevi
• 22:19
  actually introduced a Bitcoin ETF back in 2013.
• 22:27
  It took them like almost a decade to finally accept that
• 22:33
  ETF and like, imagine how many people would have potentially
• 22:40
  benefited from Bitcoin getting exposure to Bitcoin back in
• 22:45
  2013, then having to wait almost a decade later.
• 22:49
  So I think they're picking and choosing.
• 22:54
  So for example, when BNY Mellon, the first bank that apparently
• 22:58
  is going to be allowed to custody Bitcoin, they gave him
• 23:01
  an exemption from the SAB 121 regulation.
• 23:08
  Like if a law, a law is a law, right?
• 23:12
  A law is meant to be all-encompassing.
• 23:16
  Why is an unelected bureaucracy getting to choose which market
• 23:22
  participants are exempt from specific laws?
• 23:27
  Why are they going after Bitcoin slash crypto friendly banks?
• 23:33
  Doesn't make sense. Why have lightning wallets fled
• 23:38
  the United States in mass like wallet of Satoshi and Phoenix
• 23:43
  wallet? That is a failure of an
• 23:46
  institution. I see the SEC as a highly
• 23:50
  politicized organization. We played you guys a clip
• 23:53
  yesterday where the SEC was caught red handed communicating
• 24:01
  via back channels with Elizabeth Warren.
• 24:04
  Elizabeth Warren was actually feeding Gary Gensler the
• 24:09
  questions that she was going to ask during a Public Banking
• 24:14
  Senate committee. What was the point of that
• 24:17
  committee if Gary Genser was fed the questions before that?
• 24:21
  That's politics. Like the whole point of that is,
• 24:24
  is a charade. It's, it's, it's, it's politics.
• 24:27
  It's to make a show that Gary Gensler is being held
• 24:31
  accountable, that there is oversight.
• 24:33
  But in reality, you know, it took a Freedom of Information
• 24:36
  Act to uncover that they were colluding behind the scenes.
• 24:41
  So I think the SEC is a highly political organization.
• 24:45
  I don't believe them at this point.
• 24:47
  And I'm going to keep going back to 2008 and 2009.
• 24:53
  The Tornado Cash developers, that guy got arrested.
• 24:57
  That set the precedent that led to the Samurai guys getting
• 25:00
  arrested. No significant banker went to
• 25:04
  jail for what happened in 2008. And we uncovered yesterday that
• 25:08
  the Wagner Group, which is the mercenary group that the
• 25:11
  Russians used to invade Ukraine, was actually using HSBC and JP
• 25:16
  Morgan and the Financial Times was using words like they
• 25:20
  unwillingly, you know, facilitate, facilitated those
• 25:25
  transactions. Why can't the samurai guys use
• 25:28
  the same wording? Why is it different rules for
• 25:31
  different places? Why do the bankers get different
• 25:35
  rules than our industry? That's not fair, is it?
• 25:38
  So, yeah, I think the SEC is being used by elements of the US
• 25:42
  government for political means. I think it's a highly
• 25:46
  politicized organization. I don't think it's fulfilling
• 25:49
  its job of consumer protection. The moment that they released
• 25:53
  the ETF they backtracked it and it made the price of Bitcoin
• 25:58
  literally like it was like 2 God candles of 10K up and 10K down,
• 26:03
  liquidating tons of people in the process.
• 26:06
  They literally manipulated the market.
• 26:09
  They're hoping the reason as to why they exist is to stop market
• 26:13
  manipulation in the 1st place. And it's something that they did
• 26:16
  themselves. But of course, because they're
• 26:19
  the Regulatory agency, where's the accountability there?
• 26:23
  So I think it's time to fire Gary Gensler.
• 26:26
  I think it's time to move on and I think it's time for this
• 26:30
  unholy crusade against the Bitcoin industry in the United
• 26:34
  States to end. That's my opinion on it anyways.
• 26:37
  I'm going to pass it on to Kamal.
• 26:39
  Kamal, I mean, you and and James are just you guys are like 10
• 26:44
  steps ahead of us. Simple us.
• 26:45
  It's simply Bitcoin because me and Opti, first generation
• 26:48
  Americans, we still believe in the United States.
• 26:51
  You guys are just like, look, I'm in freedom country, I'm in
• 26:53
  El Salvador. I don't have to deal with all
• 26:55
  any of this bullshit. So anyways I want to I want to
• 26:57
  get your guys's thoughts on this.
• 26:59
  How does it feel looking from Freedom Country and seeing
• 27:04
  what's happening on in clown World?
• 27:06
  What's your perspective? I, I, yeah, I'm an outsider to
• 27:14
  the US politics scene. I'm obviously watching and
• 27:18
  following it. What's going on?
• 27:21
  It seems like there is a lot of political favours being
• 27:24
  exchanged for money by lobby organisations.
• 27:30
  And if you have a big lobby and you have a lot of money, then
• 27:35
  your interests, you know, may prevail and you may not be
• 27:40
  prosecuted or a senator might not instigate a bank run against
• 27:46
  your bank or, you know, you lots of different things, right?
• 27:53
  This is what it looks like to me as an outside observer, Like
• 27:56
  compared to European countries, these lobbies and and political
• 28:02
  donations play like a much, much bigger role in the United States
• 28:08
  than in any other democracy I've studied.
• 28:15
  Yeah, I I don't know. It's a it's an interesting
• 28:17
  experiment to do things like that.
• 28:21
  And it certainly has interesting outcomes.
• 28:27
  I have to disagree maybe a little bit or I'm a little bit
• 28:31
  confused about why Gensler is getting so much hate because as
• 28:37
  far as I can tell, as as a bitcoiner who's not necessarily
• 28:40
  interested in altcoins and crypto industry and stuff, like
• 28:46
  he hasn't been too bad. Maybe like you said, the SPF
• 28:51
  thing and the FDX thing like how could that whole scandal happen
• 28:56
  under his watch? Like that should be investigated
• 29:00
  for sure. Seems like they were in on it to
• 29:03
  me. But and maybe the other thing
• 29:08
  that just recently happened earlier this year is with the
• 29:13
  ETFs, right? So I'm, I'm, I think it's good
• 29:16
  thing that they approved the ETFs.
• 29:18
  You may say, Hey, you're like 11 years too late.
• 29:21
  What the dealio? We could have had exposure,
• 29:24
  price exposure to Bitcoin for over a decade.
• 29:27
  It would have been legitimised earlier.
• 29:29
  But they didn't want to legitimise Bitcoin because ETFs
• 29:33
  bring legitimisation. And so it's a good thing that
• 29:37
  they brought the ETFs. However, they didn't bring in
• 29:42
  kind creation, right, which is it's only cash creates, which is
• 29:47
  like a big caveat to the whole thing comes with its own set of
• 29:53
  problems, raises concerns about paper Bitcoin and yeah, so so
• 30:01
  those are I think the two biggest issues that I have.
• 30:06
  You have to keep in mind, like if you wish somebody out of
• 30:08
  office, there's somebody else going to follow him and we have
• 30:12
  no idea how they are going to be.
• 30:14
  So it's often times like you you wish back.
• 30:19
  Oh my God, you remember the good old times when we had Gary
• 30:22
  Gensler. He was a bolt head, but you
• 30:24
  know, he was actually not so bad.
• 30:27
  I wish we had him back like it could happen.
• 30:30
  So it's. Absolutely.
• 30:32
  You should be cautious. That's a that's a really good
• 30:35
  point by Kamal. I'm going to pass it on to
• 30:37
  James. James, it looks like you're in
• 30:38
  Freedom Country right now. You guys don't have to deal with
• 30:42
  any of this clown world madness that's happening in Fiat Land.
• 30:47
  Not really, mate. It's relatively chilled down
• 30:50
  here. We're just building and yeah,
• 30:53
  doesn't seem like it's anywhere near as seems exhausting up
• 30:57
  there in the USI mean, I still love the USI still love
• 30:59
  Americans, but I feel bad for you guys.
• 31:03
  All the stuff that you're having to deal with.
• 31:05
  And, you know, I still have hope for the USI still think that
• 31:11
  it's it's an unwinding empire. But at the same time, I think
• 31:16
  you guys still have the Second Amendment.
• 31:18
  I think the American people are amazing.
• 31:20
  I just hope you can get these these parasitic class type
• 31:23
  people off your back because you guys would just be a powerhouse
• 31:26
  if they got out of the way. Absolutely.
• 31:30
  And I think I think Bitcoin's going to definitely do that over
• 31:33
  the long term. And that's that's dropping
• 31:36
  wisdom from James Opti real quick.
• 31:39
  What's your take on this before we move on to the news?
• 31:42
  Of course, of course. Well, first of all, to give some
• 31:44
  context, guys, if you're new to the show, I've been obviously
• 31:47
  very critical of Gary Gensler for a long time.
• 31:50
  I've been making insinuations about who he actually works for
• 31:54
  and all that good stuff. But I kind of agree with Kamal
• 31:56
  here. Like if you look at that clip, I
• 31:59
  I troll put in the in the chat when you said to start the poll
• 32:02
  of like, do you like Gary Gensler and I put yes, he's an
• 32:05
  undercover Bitcoin maxi or no, you should fire him because if
• 32:09
  you just base it off that clip. Yeah, that's not going to happen
• 32:13
  if you just kind. Of base it off that clip.
• 32:15
  I agree with a lot of the things he said in that in that
• 32:17
  particular clip that we we saw like crypto as an industry is
• 32:22
  filled with a lot of scams. There is a lot of people that
• 32:25
  are creating coins and just trying to raise money and
• 32:28
  they're offering you know, they're offering securities out
• 32:32
  there and they're like, no, the rules don't apply to us and it's
• 32:34
  like, no, bro, you're literally offering securities and that
• 32:38
  that's what's happening. It's it's the it's the Howie
• 32:41
  test. Like we know the Howie test.
• 32:43
  We've had the Howie test for a long time and it, it's pretty
• 32:46
  clear test. And so I find it obviously
• 32:50
  interesting. Like I, I have been saying for a
• 32:52
  while that I, that I do think Gary Gensler is working for the
• 32:55
  big banks yesterday or in the last week on Friday as well.
• 32:58
  We got the smoking gun that Elizabeth Warren and Operation
• 33:02
  Choke .2 point O are a real thing.
• 33:04
  They've been actively fighting the Bitcoin industry.
• 33:07
  We know Gary Gensler and Elizabeth Warren were in cahoots
• 33:10
  about the, the banking trial that Nicole brought up.
• 33:12
  And so there is a lot of things to be critical about Gary
• 33:15
  Gensler in the 1st place, but kind of like Kamala saying we
• 33:18
  don't know who's going to be next.
• 33:19
  And at least we know that he does on a, on a very, I would
• 33:24
  say technical level understand Bitcoin and the crypto industry.
• 33:27
  Yes, publicly in regards to his role at the SEC, he's, you know,
• 33:31
  not a full blown blown Bitcoin maxi, but even there in that
• 33:35
  clip, he's like, yeah, we we made the rules pretty clear and
• 33:38
  we like Bitcoin. It's not a security and This is
• 33:40
  why we offered the the ETF product.
• 33:43
  And I agree the crypto industry at large, the altcoin space is
• 33:47
  full of a lot of scammers. It is full with a lot of rug
• 33:49
  pulls. And so again, on that clip in
• 33:51
  itself, I kind of agree with him, though there is an
• 33:55
  interesting line of reasoning. And, and if you read between the
• 33:59
  lines there of him kind of saying, like, yeah, we allowed
• 34:03
  the Bitcoin ETF products and just, you know, go to the the,
• 34:07
  you know, New York exchange and traded in these regulated
• 34:12
  entities. And it really just makes me
• 34:14
  think like he doesn't want us holding Bitcoin, at least in his
• 34:16
  public role, doesn't want us holding Bitcoin in self custody,
• 34:19
  which is more more signal than ever that we should probably be
• 34:22
  holding Bitcoin in self custody. But I, I kind of agree.
• 34:25
  Like I, you know, hey, you guys, you guys can call me a status
• 34:28
  today or whatever. You guys can throw tomatoes at
• 34:31
  me all you want, but it sounds like Gary Ginzer is an
• 34:34
  undercover Max as far as I'm concerned.
• 34:36
  And he only likes Bitcoin. I like Bitcoin and I don't care
• 34:40
  about all the other shit coins and I I agree with that.
• 34:43
  So yes, there's a lot of things to be critical about Gary
• 34:45
  Gensler, but based on that clip, I'd say he's a bitcoiner and all
• 34:49
  you shit coiners are going to get wrecked breaking.
• 34:53
  News Opti is no longer into Christine Lagarde.
• 34:56
  He is. Trying to hey, hey, it's a
• 35:01
  family friendly show, Nico. I mean, bro, you're Mr.
• 35:05
  Politician, Central banker Casanova, bro, I'm.
• 35:08
  A Cantalon insider. No, I'm not.
• 35:14
  All right, everybody, let's get to the news.
• 35:16
  We have lots to talk about. Let's check it out.
• 35:17
  Here we go. Stay tuned.
• 35:18
  We're going to talk about Kamala Harris potentially changing tune
• 35:22
  on the industry, a historic meeting between Elon Musk and
• 35:27
  Naimbu Kelly. And of course, the old age mean
• 35:30
  the meme that we've been saying. If you guys believe in the
• 35:33
  theory from the 4th turning hard times create strong men, strong
• 35:37
  men create good times, good times create weak men, weak men
• 35:40
  create hard times. So I think it was a very
• 35:42
  historic meeting. I think we are going through
• 35:44
  very historic times. We're living through historic
• 35:47
  times. So we're going to explore those
• 35:48
  topics further, guys. Stay tuned, we'll be right back.
• 35:53
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• 38:49
  So the news for today, Kamala Harris Quartz AI and crypto
• 38:54
  industries during fundraising event in New York.
• 38:58
  This is a complete change of tune, ladies and gentlemen.
• 39:02
  Do I think that this is it is a coincidence that this is coming
• 39:06
  after Donald Trump makes a historic appearance at Pub Key
• 39:11
  in New York, buying burgers for the entire bar?
• 39:14
  No, I don't think that's a coincidence.
• 39:16
  Do I think it's a coincidence that this is happening during an
• 39:19
  election year when a major part of the Democratic constituents
• 39:23
  are Bitcoin owners? No, I don't think that that's a
• 39:26
  coincidence. However, however big however,
• 39:31
  and I already see someone saying crypto man in the chat, she does
• 39:35
  not say crypto. She does not say digital words,
• 39:39
  she says blockchain. Here's the clip.
• 39:42
  Let's check it out and then we will talk about it.
• 39:45
  So I will recommit the nation to global leadership in the sectors
• 39:50
  that will define the next century.
• 39:52
  We will invest in biomanufacturing and aerospace,
• 39:56
  remain dominant in AI and quantum computing, blockchain
• 40:00
  and other emerging technologies. So I.
• 40:03
  Will read That's not good enough for me, bro.
• 40:05
  That's not good enough for me. The orange man is at least
• 40:08
  saying that he's going to protect self custody, protect
• 40:11
  the right to mine, and he's saying at least have fun with
• 40:15
  your bitcoins. It doesn't sound as good.
• 40:18
  I mean, at least she could have said like, have fun with your
• 40:21
  blockchains, but you know, she's just throwing in blockchain with
• 40:25
  AI and quantum computing. Like I feel like it's a bunch of
• 40:28
  buzzwords that sound good. But I want promises.
• 40:31
  I want promises. When I get promises, I will wear
• 40:35
  a Kamala shirt. I will wear Kamala shirt on the
• 40:38
  show. So Kamala Harris come out and
• 40:41
  say, you know, I'll I'll protect the right to self custody.
• 40:44
  I'll protect the right to mine and Nico promises that he will
• 40:48
  wear a Kamala shirt until then. Mega 2024 baby.
• 40:53
  All right, everybody, so moving on to the next piece of news.
• 40:56
  Wait. Wait, wait, wait, can I can I
• 40:57
  jump in here? Real, of course.
• 40:59
  You know, Nico said he'd wear a Kamala shirt if she said the B
• 41:01
  word. She said the wrong B word.
• 41:03
  This whole like I we're going to protect blockchain.
• 41:07
  It's just like, man, what year are we in again?
• 41:10
  Like, I know if she's a politician, she probably is just
• 41:14
  reading a script, but I think, I think she.
• 41:17
  Absolutely was reading a script. Of course, but like saying
• 41:21
  blockchain is is even worse than saying crypto as far as I'm
• 41:25
  concerned. It's like, what are we talking
• 41:27
  about here? No one really needs a
• 41:29
  blockchain. They're like.
• 41:30
  No, no. But a central bank might
• 41:32
  potentially need a block. I mean a central bank digital
• 41:35
  currency. I need a already.
• 41:36
  Got a database? Why do they need a slow, clunky
• 41:38
  database? Man, what's going on here?
• 41:40
  It's about Bitcoin anyways, keep it going.
• 41:42
  Sorry, I just like. I gotta get I gotta get on that
• 41:45
  James tip where he's just he's straight chilling in El Salvador
• 41:49
  and freedom country. He's looking at he's like this
• 41:51
  fucking crazy shit. It must look like a reality TV
• 41:55
  show. American politics from your
• 41:56
  perspective. Anyways, moving on, a historic
• 42:00
  meeting between the leader of the free world, Naeem Buchele,
• 42:04
  and of course legendary entrepreneur and one of the
• 42:08
  richest man's in the world, if not the richest man in the
• 42:11
  world, Elon Musk. And he said to quote him, just
• 42:15
  had an excellent conversation with President Buchele.
• 42:18
  We talked about the nature of reality, future of humanity and
• 42:22
  how technology like AI and robotics will affect the world.
• 42:25
  El Salvador has an amazing leader and Elon went on to say
• 42:30
  he took a speech of of Naimbu Kele from the United Nations.
• 42:36
  I'm going to try to live translate this for you guys
• 42:39
  because it is in Spanish and unfortunately most not,
• 42:42
  unfortunately most of our viewers are Americans, Canadians
• 42:45
  and people in the UK. So I'm assuming that you guys
• 42:48
  don't understand Spanish. So I'm going to live translate
• 42:50
  some of this. Anyways, here is a clip, A1 and
• 42:55
  41 minute 49 second clip of a legendary speech of Naimbu Kelly
• 43:01
  at the United Nations. When I heard this, it gave me
• 43:04
  goosebumps. As Salvadorians, we recognize
• 43:08
  the symptoms of decadence when we seen them because we have
• 43:12
  been through them all. We've lived through the stages
• 43:15
  of our nation's downfall, 1 by 1, and we're seeing those same
• 43:19
  stages once again, but this time on a global scale.
• 43:24
  We cannot and do not wish to tell other countries what to do.
• 43:29
  Each country must make its own decisions and do what is best
• 43:32
  for its people. We can only offer a world of a
• 43:36
  word of caution from a friend who has been through a dark time
• 43:40
  and has fought the battle of his life to get out of it.
• 43:45
  We cannot change the course of the world.
• 43:47
  El Salvador's A is too small of a country.
• 43:50
  We are in fact the smallest country in the entire American
• 43:53
  continent. This is much bigger than us, and
• 43:56
  in fact it is bigger than any nation.
• 43:58
  We cannot prevent the dark times that are coming, but what we can
• 44:03
  do is become a small shelter from the coming storm.
• 44:09
  Maintain hope in El Salvador, we do not imprison our opposition,
• 44:15
  we do not censor opinions, we do not confiscate properly, but
• 44:19
  property from those who think differently.
• 44:21
  We do not arrest arrest people for expressing their ideas.
• 44:24
  And El Salvador, your freedom of expression, as well as your
• 44:27
  private property will always be protected.
• 44:31
  And El Salvador, we prioritize the safety of our honest
• 44:34
  citizens over the comfort of criminals.
• 44:38
  Some say that we have imprisoned thousands, but the reality is
• 44:42
  that we have freed millions. Now is the good guys who live
• 44:48
  free, without fear, with their freedoms and human rights fully
• 44:52
  respected? I mean that that speech just
• 44:57
  gives me absolute goosebumps. Like some say that we have
• 45:02
  imprisoned thousands but in reality we have freed millions.
• 45:08
  And this leads me to this very famous meme that has made the
• 45:13
  rounds on Bitcoin Twitter. Hard times create strong men.
• 45:18
  Strong men create good times. Good times create weak men.
• 45:20
  Weak men create hard times. I would say we are transitioning
• 45:25
  from weak men create hard times to hard times create strong men.
• 45:30
  And I think with Diane Buchelli's leadership and him
• 45:34
  doing the courageous thing, the strong thing, because that's
• 45:39
  the, that's the, that's the fear, that's the, the narrative
• 45:43
  that you'd like to hear from people.
• 45:45
  The narrative is basically like, how could you imprison 1% of
• 45:50
  your population? How could you imprison thousands
• 45:54
  of these people? And he addressed it perfectly.
• 45:59
  Those thousands, those thousands of people, those criminals,
• 46:04
  we're literally terrorizing the lives of millions of people who
• 46:09
  were honest and good citizens. The context matters.
• 46:14
  And in this time of despair, in this time of darkness, we need
• 46:21
  courage. We need strong men to stand up
• 46:25
  and do the right thing. And then that leads me to the
• 46:29
  next question, which is a question that I've been
• 46:32
  currently asking myself during my recent kind of Bitcoin rabbit
• 46:37
  hole journey, which is the initial question is what is
• 46:41
  money? But that has led me to realize
• 46:45
  that the question isn't what is money.
• 46:48
  The question is what is government?
• 46:50
  And I think Naimbu Kelly perfectly addressed it during
• 46:54
  that speech that he made. The role of government is
• 46:58
  protect private property, protect those honest and law
• 47:03
  abiding citizens from the law, from the non law abiding
• 47:08
  citizens. That is the whole point of
• 47:11
  government. And now it's been kind of
• 47:14
  Frankensteined into this government should do basically
• 47:19
  everything and anything but protect its people.
• 47:23
  How is sending hundreds of billions of dollars to fund a
• 47:28
  foreign war in Ukraine helping me here in the US?
• 47:32
  You know, how is what is happening in the border helping
• 47:36
  me as a taxpaying citizens here in the US?
• 47:41
  How is that helping me? So I think the money printer, I
• 47:46
  think Fiat has grown government to such an extent that now all
• 47:52
  of a sudden it's starting to eat itself.
• 47:56
  And this is where we are in the movie.
• 47:58
  And I think El Salvador has a history due to its civil war
• 48:03
  that they've been through those times of decadence.
• 48:06
  They've been through those times of instability.
• 48:10
  So therefore they know the lessons of the past.
• 48:14
  And when you know the lessons of the past, you know what not to
• 48:17
  do in order for you to not repeat the same mistakes.
• 48:21
  Something similar happened in Argentina.
• 48:25
  The people of Argentina were pushed to such an extreme that
• 48:28
  for the first time in global history, a libertarian Austrian
• 48:33
  economist president was voted into office.
• 48:36
  And because of his policies, Argentina went out.
• 48:41
  You know, they've stabilized their currency.
• 48:44
  They've lowered the cost of housing and I think the world is
• 48:49
  going through this great awakening process.
• 48:52
  I think some people see it before others.
• 48:56
  I originally come from Venezuela.
• 48:58
  I've seen my country completely destroyed by 20 years of
• 49:03
  decadence and collectivism, ideologies and policies.
• 49:08
  And I'm seeing that train move full steam ahead in Western
• 49:13
  so-called democracies. And you're starting to see this
• 49:17
  with the rise of censorship, the rise of confiscation of private
• 49:22
  property due to your political beliefs.
• 49:26
  And I think it would be wise for the the world to heed what
• 49:31
  Naimbu Kelly is saying in his United Nations speech.
• 49:36
  And I think that's exactly why Elon Musk is retweeting
• 49:40
  something like that. Anyways, that's my take on all
• 49:44
  this. Again, I think Naimbu Kelly is
• 49:47
  really showing the rest of the world what it takes.
• 49:51
  I think he's a great leader and really excited to see the future
• 49:56
  of, of, of El Salvador, you know, with him behind the helm.
• 50:00
  Anyways, I'm going to pass it on to James because James, you're
• 50:02
  on the floor over there. What are you seeing that we're
• 50:05
  not seeing? What are you seeing in El
• 50:07
  Salvador? One of the things that I
• 50:08
  experienced when I went to the halving party is, you know, I,
• 50:11
  I'm, I'm bilingual, I speak Spanish, and I took it upon
• 50:15
  myself to talk to as many locals as possible.
• 50:19
  And I asked them two questions. What do you think about Nyan Boo
• 50:20
  Kelly? Because I didn't want, I didn't
• 50:23
  want to trust what other people were telling me.
• 50:25
  And what do you think about Bitcoin?
• 50:28
  I didn't think. I, I don't think I got 1 answer
• 50:31
  from someone that said that they disliked Nyan Boo Kelly.
• 50:33
  That's the number. That's the number one thing.
• 50:36
  Number thing #2 is the Bitcoin thing was that was like 5050.
• 50:41
  Like, most people are like, yeah, I like dollars, and I'm
• 50:44
  using dollars. Yeah, the Chivo Wall, it's cool.
• 50:46
  But, you know, it's kind of still experimental.
• 50:49
  But those are the two questions that I asked when I was in El
• 50:52
  Salvador. And again, I don't think it's a
• 50:55
  coincidence that the first country that made Bitcoin legal
• 50:57
  tender, therefore making the base layer of society aligned
• 51:04
  with the rest of the populace, happens to have the most popular
• 51:08
  president in the Americas. I don't think that's a
• 51:10
  coincidence. So, James, I'm going to pass it
• 51:11
  on to you. You're on the ground.
• 51:13
  What do you think of all this? Well, yeah, I would say you're,
• 51:19
  you're totally correct. He has an incredibly high
• 51:22
  approval rating here. It's complicated.
• 51:28
  The I mean, the number one thing, you can't do anything
• 51:30
  without security, right? You can't build anything without
• 51:33
  security. And that's what he's provided.
• 51:37
  He's a controversial figure, obviously, because he's taken
• 51:41
  some pretty extreme measures and how he's achieved that.
• 51:45
  But the reality was, is that the country was languishing
• 51:48
  essentially with the violence. Like I, I was here before the
• 51:54
  emergency state took effect and it was, it was really bad.
• 52:00
  You know, I I remember when it happened, you know, there was,
• 52:03
  there was, I think it was 65 people killed in a day because
• 52:08
  the truce fell apart. And they were just going around
• 52:10
  just shooting people on the street.
• 52:11
  They're just driving around Dr. Bys, anyone and everyone.
• 52:14
  And that's what began like the emergency measures since then.
• 52:19
  Yeah, it's an incredibly safe place.
• 52:22
  And that has really allowed both foreigners and and locals to
• 52:27
  actually start building something more prosperous.
• 52:32
  You have to start with the security.
• 52:35
  And like you said, you're a Venezuelan.
• 52:39
  My take, I mean, I don't trust politicians by default.
• 52:43
  But my take at least with with Kelly, is he's not going down a
• 52:46
  collectivist route. He is being in terms of, you
• 52:50
  know, strong men. He is being the strong man in
• 52:53
  terms of the way that he's leading the country.
• 52:56
  But he is not, he's not a communist.
• 53:00
  I mean, even in meeting with Musk, Musk I think is an
• 53:03
  example. He's trying to attract
• 53:04
  innovation. He's trying to attract decent
• 53:09
  companies. So yeah, it's, it's it's
• 53:16
  complicated. But I would say that our
• 53:18
  Salvador is definitely on an upward trajectory and that for
• 53:23
  the most part, he's doing a really good job.
• 53:25
  I 100% agree. And I think the key point there
• 53:28
  is he's not a collectivist and he's protecting private property
• 53:33
  and he is allowing the free market to thrive, which is, in
• 53:38
  my opinion, the best way for human society to organize itself
• 53:42
  because that's how it organizes itself without any kind of
• 53:45
  coercion, any type of coercion. Coercive means it's just people,
• 53:50
  you know, voluntary transacting with each other.
• 53:54
  But that has to be allowed. That has to be somewhat, you
• 53:58
  could say that has to be somewhat protected.
• 54:01
  That could be evil. That could either be enabled by
• 54:04
  the state or that could be persecuted by the state.
• 54:08
  And, you know, history has shown that, you know, free market
• 54:11
  economies, you know, flourish and more collectivist economies
• 54:18
  tend to impoverish their citizens, to put it nicely.
• 54:21
  Anyways, Camel, what are your thoughts on this, my friend?
• 54:25
  We are going to be. And that's what we're going to
• 54:27
  talk about during the culture, by the way.
• 54:29
  So everyone stay tuned. There's about 1780 of you guys
• 54:32
  watching live between YouTube and X and another 120 of you
• 54:37
  guys watching live on Rumble, another 2020 or so watching live
• 54:42
  on Noster. So stay tuned because we are
• 54:43
  going to be talking about the Adopting Bitcoin conference
• 54:46
  during the culture segment. But Camel, what are your
• 54:49
  thoughts on this? Man?
• 54:50
  I think you're, I think you're seeing what we're seeing.
• 54:52
  I don't think you'd be throwing the conference in El Salvador if
• 54:57
  you didn't feel optimistic about its future.
• 55:02
  No, I wouldn't. I guess I mean to clarify, I
• 55:07
  live in, I don't live in El Salvador, but I organise, Co
• 55:11
  organise that optical conference.
• 55:14
  Ever since the legal tender law basically passed in 2021, we had
• 55:20
  our first. So I've been following the space
• 55:23
  and visiting yearly the country in touch with folks on the
• 55:29
  ground living in El Salvador for the past couple of years now.
• 55:35
  Almost daily contact in with Bitcoiners.
• 55:40
  They're talking obviously about politics, about the difficult
• 55:43
  situation with the security and everything.
• 55:47
  All things that we had that were also concerns for us as a
• 55:51
  conference organiser bringing international attendees to the
• 55:55
  Central American country that's known to be the murder capital
• 55:58
  of the world at that time, right?
• 56:01
  So I think I have a couple of thoughts around Bouquel.
• 56:05
  I agree with James position that I'm generally very sceptical of
• 56:11
  anybody who is a politician and I recommend all my peers to take
• 56:17
  that position as well. Similarly to how Edward Snowden
• 56:20
  also propagated in Nashville at the conference in his speech.
• 56:25
  But having said that, I think it's really remarkable how he
• 56:28
  has executed since he came into power.
• 56:33
  I think it was in 2019. And in an absolutely remarkable
• 56:40
  way. Like, first of all, he, as we
• 56:45
  all know, made Bitcoin legal tender, which is a smart move
• 56:49
  that will only pay off in a couple of years.
• 56:52
  Really. It's starting to pay off nicely
• 56:57
  already, which is good. But the real pay pay off will be
• 57:02
  in, I don't know, a decade or two and then it will just be
• 57:06
  undeniable how smart this decision was.
• 57:11
  But it was also very logical decision for El Salvador to do
• 57:15
  this or for the president of El Salvador to do this because they
• 57:19
  have already gone cold Turkey from the money printer since
• 57:23
  2000. They are not addicted to the
• 57:26
  heroin of of money printing and they just had all the adverse
• 57:31
  effects without the highs. So it, it made total sense to,
• 57:38
  to jump on it and, and you know, they have gotten good returns
• 57:45
  from this decision, just from the marketing of it and from
• 57:49
  tourism and things like that. I think another thing that I
• 57:53
  really admire and I can't almost, I can't almost believe
• 57:57
  how we pulled it off right. I mean, you might say, like, how
• 58:00
  do you, how do you put 70,000 pandillas into a penitentiary
• 58:06
  without a single collateral damage?
• 58:12
  Like it's absolutely insane. The state of exception started
• 58:16
  after the mentioned 65 people that died on a Saturday
• 58:20
  afternoon or they didn't die, they were killed, right, Like
• 58:23
  James said. And, and, and we've been in this
• 58:27
  situation, like similar situations we've had also in
• 58:30
  Mexico where there is like gang violence and the government with
• 58:35
  its military tried to fight against like the gang violence,
• 58:39
  but but they were, they had no chance because every time they
• 58:42
  were closing in, the gangs just would go out on the streets and
• 58:46
  start to murder randomly people and the government would have to
• 58:50
  recede. And, and however, in, in El
• 58:53
  Salvador, this didn't happen. Like somehow he out manoeuvred
• 58:58
  these gangs and he put them all into jail one after the other.
• 59:05
  Apparently, like there were multiple gangs, maybe they just
• 59:09
  thought, oh, when they saw that he's going after the, the, the
• 59:13
  other gang, Well, he's now we, we'll have more market share.
• 59:18
  Like he's not going to come after us.
• 59:19
  He's only coming after them. Maybe, you know, he made them
• 59:23
  believe that. So they didn't react.
• 59:25
  They didn't help each other and and they were all gone.
• 59:29
  I don't share the criticism of human rights organisations.
• 59:32
  Like these guys are so dumb. They basically tattooed it on
• 59:37
  their face that they're criminals.
• 59:38
  So it's very easy to pick them out and put them away, which he
• 59:42
  did in a in a beautiful way. And and the results just speak
• 59:48
  for themselves. Like just recently there was a
• 59:51
  survey by Gallup I think, basically asking about safety
• 59:59
  when walking outside at night. And El Salvador now is among the
• 1:00:05
  top ten countries in the world where it's where people feel
• 1:00:08
  safe to walk outside, which is an amazing feat in such a brief
• 1:00:13
  amount of time. From basically the murder
• 1:00:16
  capital of the world, people getting shot on the streets to a
• 1:00:20
  majority of people feel safe here, even walking alone at
• 1:00:25
  night, which was a no go in 2021.
• 1:00:27
  Even like there were no go areas that we were telling tourists
• 1:00:31
  like don't go here, don't go there.
• 1:00:33
  Stay away from these areas. Now that's all history.
• 1:00:38
  Like it doesn't exist anymore according to everything that I
• 1:00:42
  hear from my friends on the ground.
• 1:00:46
  Like El Salvador has been freed really by Bukhale.
• 1:00:50
  And yeah, security is the prerequisite for many, many
• 1:00:56
  things that build on top. And most importantly, also
• 1:01:02
  business. And so high security, you have
• 1:01:08
  good business going on. You can tell that, you know, and
• 1:01:11
  from all the Gulf countries as well, like Dubai and stuff.
• 1:01:15
  And yeah, about Elon Musk now retweeting Bukhale.
• 1:01:22
  I've actually watched many of the United Nations General
• 1:01:25
  Assembly addresses of the heads of state, Nate Pukilis and
• 1:01:31
  Javier Miley stand out. They're intellectually
• 1:01:35
  refreshing and obviously have very compelling stories.
• 1:01:40
  But I, I'm a little bit cynic about Elon Musk's behaviour.
• 1:01:45
  Sure, he likes him, but you know, he's using all of this to
• 1:01:50
  create his narrative out there to make the, to set the agenda.
• 1:01:54
  And sure, now he's picking Nate Pukila.
• 1:02:00
  I hope there's more to it, you know, than just than just using
• 1:02:05
  him to to be friends to show that he's friends with statesman
• 1:02:09
  and frequenting like the higher echelons of power now.
• 1:02:14
  And I, I hope there's more coming infrastructure
• 1:02:19
  investments, maybe set up a Tesla factory in El Salvador,
• 1:02:26
  you know, maybe solve San Salvador's traffic problems with
• 1:02:31
  your Boring Company. I don't know.
• 1:02:35
  There's lots of things that Elon Musk could do.
• 1:02:38
  I hope it's not just photo OPS and he actually gets on the
• 1:02:42
  ground and and builds stuff there as well before moving on
• 1:02:46
  to the to the next person to do a full talk with.
• 1:02:49
  Absolutely. I think that's an incredible
• 1:02:50
  point, right? Like obviously it benefits Elon
• 1:02:53
  tremendously. I think he was with the Prime
• 1:02:55
  Minister of Italy the other day as well on Twitter.
• 1:02:59
  So you know, Opti's laughing for Opti's laughing for certain
• 1:03:03
  reasons. But Opti, that's, I don't think
• 1:03:07
  you've, I don't think you've ever gone from Italy yet.
• 1:03:10
  So, Prime Minister, that's that You've done, central bankers
• 1:03:13
  you've achieved, but never prime ministers.
• 1:03:16
  Antheon insider and joyer confirmed but here let me pop in
• 1:03:22
  and let's get to the the culture I I agree with a lot of what
• 1:03:26
  Kamal said and James said of course what Nico said I'm going
• 1:03:29
  to be quick about this. I just find it very interesting
• 1:03:32
  that if you get a leader in position that does take a take a
• 1:03:38
  take a stance, does have principles that he's trying to
• 1:03:41
  guide his country, how quickly you can turn things around.
• 1:03:44
  And as someone that is I, you know, fully invested in America,
• 1:03:47
  I don't, I don't want to leave my home.
• 1:03:49
  I just find it hopeful that maybe hopefully, fingers crossed
• 1:03:54
  we can figure out something similar in the US because it
• 1:03:57
  seems like we are being run by a lot of weak geriatrics.
• 1:04:00
  And I want a strong leader in place so that we can turn this
• 1:04:03
  country around because I do not want to live in anywhere else.
• 1:04:07
  Of course, there's a lot of great places, but I love my
• 1:04:10
  home. I want my family to also thrive.
• 1:04:13
  And it's just very interesting when you see a strong leader
• 1:04:15
  getting power, not only the the negative feedback and the
• 1:04:18
  whiplash that he gets, but the praise that he gets within his
• 1:04:22
  nation. And again, I've said this all
• 1:04:23
  the time, like, I don't live in El Salvador.
• 1:04:26
  So who am I to talk about what El Salvadorans think about the
• 1:04:29
  president? I just look at it as a beacon of
• 1:04:31
  light and being like, look, he's a bitcoiner.
• 1:04:34
  He's got some principles. He wants to change his country
• 1:04:36
  around. And I just find it hopeful that
• 1:04:39
  maybe again, we could do that same thing in the US and it
• 1:04:42
  doesn't go completely into a shit hole.
• 1:04:45
  Absolutely. All right, everybody stay tuned
• 1:04:47
  because we are going to talk about the Adopting Bitcoin
• 1:04:51
  conference that's coming up in November in El Salvador and of
• 1:04:54
  course, if we have time, the BTC farmers market as well.
• 1:04:58
  So stay tuned for the culture segment.
• 1:05:00
  Here we go. We'll, we will be right back.
• 1:05:15
  All right, everybody, I, I want to tell you guys about our
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  Anyways, I'm so excited to have these two gentlemen on the show
• 1:06:36
  today. Of course, we have James and
• 1:06:39
  Kamal. Of course, they are the
• 1:06:41
  organizers of the adopting Bitcoin conferences, plural.
• 1:06:47
  I know you guys started in El Salvador.
• 1:06:50
  Apparently you guys are throwing one in South Africa and the
• 1:06:52
  Netherlands as well. But let's focus on the El
• 1:06:54
  Salvador one because that's the one coming up.
• 1:06:56
  So Opti, if you don't mind clicking on that one, it is
• 1:06:59
  going to be November 15th through the 16th in San
• 1:07:04
  Salvador, El Salvador. Simply Bitcoin will be there.
• 1:07:07
  We will be having the news desk. I'm really looking forward to
• 1:07:10
  it. What special surprises do you
• 1:07:12
  have for people this year, Kamal?
• 1:07:14
  Why should people go to this conference?
• 1:07:18
  I mean, adopting Bitcoin is the premier Bitcoin conference of El
• 1:07:22
  Salvador Bitcoin country and it's the first country that
• 1:07:26
  adopted Bitcoin and made it legal tender.
• 1:07:28
  And that's a huge deal because Bitcoin is nothing fringe there.
• 1:07:32
  It's nothing, you know, criminalised or like uncertain
• 1:07:37
  like it's become second nature. And, you know, it's attracting
• 1:07:41
  lots of people who want to see how it feels to live in a world
• 1:07:47
  in a, in a country where Bitcoin is, has wider acceptance.
• 1:07:52
  And it attracts a lot of builders who want to, yeah,
• 1:07:58
  learn and maybe bring their products to this country and,
• 1:08:03
  and test it on scale and get market feedback on scale in ways
• 1:08:08
  that are not possible in jurisdictions that are hostile
• 1:08:11
  to, to it. Right.
• 1:08:12
  Like there's also a lot of founders coming to set up shop
• 1:08:16
  in El Salvador, builders who are, you know, looking to
• 1:08:20
  connect, entrepreneurs who are looking for a for a business
• 1:08:25
  partner to set up. Like so many CEOs who found
• 1:08:30
  their CTO at adopting Bitcoin, so many projects that emerged.
• 1:08:34
  And yeah, it's basically established itself as a place
• 1:08:39
  where a lot of also new folks in the Bitcoin space that you don't
• 1:08:44
  hear, you know, at the usual conferences on stage, Yeah.
• 1:08:49
  Can, you know, get, get known by a wider audience, present their
• 1:08:55
  ideas and and I'm sure there will be a couple of really
• 1:09:01
  interesting things coming out of this one as well.
• 1:09:04
  So talk about El Salvador, right?
• 1:09:05
  Perhaps a lot of people haven't made the pilgrimage yet.
• 1:09:08
  They're they, they, they're not familiar.
• 1:09:11
  The conference is going to be thrown in San Saud aloud, which
• 1:09:14
  is the capital. What are the, you know, what are
• 1:09:17
  the, the like the, the booking arrangements like if I want to
• 1:09:23
  get a hotel, if I want to get an Airbnb, are they high quality?
• 1:09:29
  You know, should I fear for my safety?
• 1:09:30
  Am I going to be able to pull out my cell phone?
• 1:09:33
  You were talking about this earlier.
• 1:09:35
  Perhaps that's something that's on a lot of people's minds when
• 1:09:38
  they hear, hey, there's a Bitcoin conference going on in
• 1:09:40
  El Salvador. What would be your response to
• 1:09:43
  that? I'll let James answer that
• 1:09:46
  because he is clearly more experience with all the
• 1:09:52
  accommodations and the situation on the ground.
• 1:09:56
  Yeah. So I guess just to get it out of
• 1:09:59
  the way, if you look on our website, we have partnered with
• 1:10:02
  quite a few hotels in the city. There's also a discount code
• 1:10:05
  there for the hotels. There's a huge community of
• 1:10:11
  Bitcoin is here and it's only growing.
• 1:10:13
  There's multiple meetups all over the country every week.
• 1:10:17
  We have better in three farmers markets a month now.
• 1:10:21
  There's all these hotspots of Bitcoin is coming and, you know,
• 1:10:24
  actually engaging in, in a parallel kind of SAT's based
• 1:10:28
  economy. And I'm yet to hear of any
• 1:10:31
  issues with people getting their phones stolen or any, any sort
• 1:10:35
  of shenanigans like that. So I would say to folks that
• 1:10:39
  haven't been here before, it's, it's a great opportunity to come
• 1:10:44
  and see what it's actually like living outside of Fiat system.
• 1:10:50
  We are still relatively small, but I mean, for example, I
• 1:10:56
  haven't had a bank account in three years up until last week,
• 1:11:01
  I had to open up a Fiat bank account for one of my
• 1:11:04
  businesses. But you can do it here.
• 1:11:07
  It I'm not saying that it's perfect or easy or seamless, but
• 1:11:13
  if you if that kind of lifestyle intrigues you, I would say you
• 1:11:17
  got to come and check it out. Awesome.
• 1:11:20
  Yeah. And you know, I've, I've made
• 1:11:21
  the pilgrimage twice already. And I've also, I've, I've, I've
• 1:11:27
  lived a bit of my life in South and Central America.
• 1:11:32
  And I, what I got to say is what is happening in El Salvador is
• 1:11:36
  extremely unique. The people are full of hope.
• 1:11:41
  It's extremely safe country. And one of the things that
• 1:11:44
  happened to me on the first days is, and I don't suggest doing
• 1:11:48
  this in in in Latin America, but one of my shoes broke and I
• 1:11:53
  actually had a dinner with Max Max Stacy and BTC sessions.
• 1:11:57
  There was an event going on and I had to go get super glue.
• 1:12:01
  So I went down to the hotel lobby and I said, Hey, do you
• 1:12:04
  guys have super glue? And they're like, no.
• 1:12:07
  And I went out like walking in the streets and I was just like,
• 1:12:10
  hey, you know, like, like where can I find super glue?
• 1:12:14
  And a guy literally took me in his car and he took me to like a
• 1:12:18
  nearby bodega. And I went to the to the counter
• 1:12:24
  and I said, hey, can I buy this from you?
• 1:12:26
  And he was like, it's like a dollar or something.
• 1:12:28
  And I didn't have any cash on me or anything.
• 1:12:31
  So I was like, yeah, let me, let me pay you with Bitcoin.
• 1:12:32
  He's like, no, sorry, I don't accept that.
• 1:12:34
  And the guy next to me, the guy next to me was like, no, don't
• 1:12:40
  worry, I'll pay for you. And some random guy took me to
• 1:12:44
  the bodega. Random guy paid for the Super
• 1:12:46
  glue. And then I walked back to my
• 1:12:49
  hotel, right? Like like that, you don't do
• 1:12:52
  that ever, right? But I felt safe and I didn't, I
• 1:12:57
  didn't feel that uncomfortable feeling in the back of your, the
• 1:13:01
  back of your mind. And that is you don't kind of
• 1:13:05
  experience that anywhere else. And I've lived in, you know,
• 1:13:10
  whether it's Colombia or, or spent some time in Ecuador, the
• 1:13:15
  Dominican Republic, I've spent quite a bit of time.
• 1:13:18
  You don't find that level. And of course, Venezuela, you
• 1:13:21
  don't find that level of safety. You do have that kind of like
• 1:13:26
  hair standing hair standing up in the back of your neck type of
• 1:13:29
  thing, kind of, you know, feeling.
• 1:13:31
  But I never had that. I never had that when I was in
• 1:13:34
  El Salvador. And I, and I really wanted to
• 1:13:36
  kind of cherish the moment because I've heard so many
• 1:13:38
  positive things like what James was describing, but you know,
• 1:13:42
  don't trust verify. This is what a lot of Bitcoiners
• 1:13:44
  believe. So I wanted to experience it
• 1:13:47
  myself. And I took it upon myself to
• 1:13:49
  just spark up conversations with so many locals.
• 1:13:51
  And I just see hope and I see hope in, in, in people.
• 1:13:55
  And I, I feel the energy that is there and you know that it's not
• 1:14:02
  called Freedom Country for no reason.
• 1:14:03
  So it's really, really awesome. And I think that this conference
• 1:14:07
  coming up is going to be a great opportunity, great excuse for
• 1:14:11
  you to go and see some of your favorite Bitcoiners in Freedom
• 1:14:15
  Country adopting Bitcoin. Let's pull up the dates again,
• 1:14:19
  Opti, if we can, please. November 15th through the 16th
• 1:14:27
  in Stan Salvador. And let's go through some of the
• 1:14:30
  speakers as well. Somebody just named them.
• 1:14:32
  For the audio listeners, we have Peter St.
• 1:14:35
  Onge, Stacy, Max and Max and Stacy, Pierre, Richard Herman,
• 1:14:42
  Bon Verire, Tone Vase, Connor Coos, Giacomo, Will Reeves,
• 1:14:49
  Maya, the President of Suriname. She's running Matthew Siegel,
• 1:14:53
  Chris Wood, Benjamin Dewal, John Denny, Mike Peterson, Nicholas
• 1:14:59
  Burtly, Roman Martinez, Luke Broyles, just to name a few.
• 1:15:04
  F fraud's going to be there. Of course, me Opti, Luke
• 1:15:09
  Mitchick's going to be there. Morgan Rashard Rodger, 9000.
• 1:15:15
  Svetsky's going to be there as well.
• 1:15:19
  Beauty On is going to be there. Andrew Loha, the organizer of
• 1:15:23
  the free My Data conference, which was excellent.
• 1:15:26
  Pedro Brandon Keys of Greenlit Investments, Miss Bitcoin is
• 1:15:32
  going to be there. Opti stay away from her.
• 1:15:35
  Mark Moss, yeah, just to name a few.
• 1:15:38
  This is a this is a very, very impressive line up.
• 1:15:41
  It's going to be a great time, like I said, and get your
• 1:15:45
  tickets now before the prices go up.
• 1:15:47
  They go up in five days. Yeah.
• 1:15:49
  Hey, can I pop in here real quick on the tickets, on the
• 1:15:52
  tickets, because people were asking about the tickets and I
• 1:15:54
  was telling Kamal this earlier before we went live, that one of
• 1:15:58
  the cool things that I noticed on the website is that you guys
• 1:16:00
  only accept Bitcoin. And I know this is a big thing
• 1:16:03
  for you, Kamal, when it comes to adopting Bitcoin of just how it
• 1:16:07
  is basically a grassroots conference.
• 1:16:10
  It's Bitcoin only you're completely independent, it is
• 1:16:13
  nonprofit. So let's talk about that for for
• 1:16:16
  the people out there, just like how beautiful and organic this
• 1:16:20
  conference actually is. Yeah, you want me to jump in
• 1:16:27
  here? Yeah, you jump in and maybe for
• 1:16:29
  the audio listeners you can give them the ticket prices and
• 1:16:31
  stuff. Yeah, absolutely.
• 1:16:33
  So, yeah, we've been accepting only Bitcoin since the very
• 1:16:38
  first conference. Actually in the beginning we
• 1:16:40
  were a little bit crazy and said we're only accepting Lightning
• 1:16:44
  no on chain. And then people were like, Nah,
• 1:16:46
  you can't do that Kamal. But we actually did it for the
• 1:16:50
  first, I think like only one month before the conference, we
• 1:16:54
  turned on, on chain and, and, and, and still like 600
• 1:16:58
  attendees paid their tickets with Lightning in 21, which was
• 1:17:01
  great. So we're only accepting Bitcoin
• 1:17:04
  payments on chain and Lightning. Both is fine.
• 1:17:08
  Majority is paying with lightning.
• 1:17:11
  We're also not really giving away free tickets.
• 1:17:14
  When we when we want to invite somebody, then we let them pay
• 1:17:18
  at least $1.00 ticket because we want people to come to the
• 1:17:22
  conference to at least have made one Bitcoin transaction in their
• 1:17:25
  life and paid for something, right?
• 1:17:27
  I think this is like a hoop that people should go through and and
• 1:17:31
  it served us well. I mean, the conference had has a
• 1:17:36
  many good filters like you knowing how to use Bitcoin and
• 1:17:40
  making a payment is one that qualifies you.
• 1:17:43
  But it's not the only one. You also have to, you know, go
• 1:17:46
  travel, travel to this conference from wherever you
• 1:17:49
  are. It's not the shortest, it's not
• 1:17:53
  around the corner. I mean, for US Americans and
• 1:17:55
  Mexicans and stuff, it's cool, but from Europe and the rest of
• 1:17:59
  the world, it's quite far away. And there's many people coming
• 1:18:02
  from Europe, from Asia, even from Australia to this
• 1:18:07
  conference. It's really the place, you know,
• 1:18:10
  from all over the world, many different built between cultures
• 1:18:15
  are getting together here at this conference.
• 1:18:19
  And, and it's really something that yeah, we're, we're proud
• 1:18:23
  of. And, and you can tell how this
• 1:18:27
  plurality of, of backgrounds like is bringing something, is
• 1:18:35
  creating something very special when, when people are aligned
• 1:18:39
  on, on Bitcoin. And yeah, about the other things
• 1:18:43
  that Opti mentioned, I think it's, it's not talked about a
• 1:18:48
  lot with other conferences, but I think, well, I've noticed that
• 1:18:52
  it makes a big, big difference in how the conference
• 1:18:56
  constitutes itself and actually how it turns out and how its
• 1:19:00
  incentives are stricken. So first of all, it's a Bitcoin
• 1:19:04
  only conference. So we basically filter out all
• 1:19:09
  spam that's not Bitcoin when we, when we basically put together
• 1:19:15
  the schedule and, and other than that, we try to do as little
• 1:19:23
  curation as possible because any curation might, you know, we
• 1:19:29
  don't want to want, we, we're not nobody, we, we just, you
• 1:19:33
  know, like putting together this conference and making it
• 1:19:35
  possible for Bitcoiners to get together and talk about the
• 1:19:38
  things that are important. And it should be bitcoiners to
• 1:19:41
  set the agenda. And so we try to do as little
• 1:19:43
  curation as possible. Another thing that we don't do
• 1:19:47
  is for example, pay to play like sponsors.
• 1:19:50
  Yes, we people can, companies can sponsor the conference, but
• 1:19:54
  that doesn't entitle them to get on stage or anything else.
• 1:19:59
  They have to submit their talks just like anybody else.
• 1:20:03
  And they go through the rigorous review process of our of our
• 1:20:07
  team. And if the and if the if it
• 1:20:11
  merits to be on stage, then they'll be on stage.
• 1:20:15
  I I, yeah. So there are no panels to be
• 1:20:17
  sold, you know, and, and stuff like that for people to, to get
• 1:20:22
  out there and, and, and talk about something that they that
• 1:20:26
  they think should be talked about.
• 1:20:27
  No, it's like just bitcoiners and anybody can suggest the
• 1:20:31
  topic. Unfortunately, our call for
• 1:20:32
  participation is closed now since three weeks.
• 1:20:37
  But yeah, we have plenty of great proposals that came in and
• 1:20:43
  we're almost through. So we should soon have a
• 1:20:45
  schedule I, I it shouldn't take too long.
• 1:20:49
  I think one more important thing is that we're non profit.
• 1:20:54
  So, you know, that also plays into the into the incentives.
• 1:20:58
  We just want to bring bitcoiners together in Bitcoin country and
• 1:21:02
  and highlight and and so they can talk about so we can talk
• 1:21:05
  about, you know, that important topics get up to speed on the
• 1:21:10
  latest developments in various fields and and touch on, you
• 1:21:15
  know, topics that need to be discussed when we're face to
• 1:21:17
  face. And and I think being non profit
• 1:21:21
  also like is an important yeah, make makes just everything
• 1:21:28
  nicer. You know, if, you know, there's
• 1:21:30
  nobody taking advantage of you, but you know, it's just a cost
• 1:21:34
  to make things happen, to bring Bitcoiners together that we are,
• 1:21:38
  that we're charging. Obviously, Salvadorans are only
• 1:21:40
  paying 21 bucks because the average income in El Salvador
• 1:21:45
  is, is, is lower still. I hope that will improve over
• 1:21:50
  the next years. Then we'll adjust that #2.
• 1:21:53
  But as it stands, it's. Yeah, international attendees
• 1:21:57
  and sponsors. So it's a 10D finance
• 1:22:00
  conference, right? Like it's so important you see
• 1:22:02
  all those problems with, with advertisers when they come in
• 1:22:07
  and how it navigatively effects journalism.
• 1:22:10
  Like if it, it also negatively effects where the coming money
• 1:22:14
  is coming from on a Bitcoin conference.
• 1:22:16
  And, and I think it shouldn't. And and, and we, we tried to
• 1:22:20
  keep it, you know, grassroots and bottom up and and real and
• 1:22:29
  yeah, I'll stop here and maybe James wants to add something or
• 1:22:32
  you have some thoughts get. Over to James real quick because
• 1:22:35
  I, you know, everyone knows you, you've been on the show as the
• 1:22:38
  Bitcoin farmers Market and a cool thing that you told me
• 1:22:41
  earlier is what's going on with the Bitcoin farmers market at
• 1:22:45
  adopting Bitcoin. So let's talk about that real
• 1:22:47
  quick before we wrap up today's show.
• 1:22:51
  Yeah, well, over the two days of the conference in the outdoor
• 1:22:55
  area at the venue, it's a big, beautiful venue in the mountains
• 1:23:00
  just overlooking San Salvador. But in one of the outdoors we're
• 1:23:04
  actually going to have the Bitcoin farmers market running
• 1:23:07
  the whole time over both days. And I have a huge variety of
• 1:23:10
  things, probably 30 to 40 vendors.
• 1:23:13
  It it depends. It's a voluntary market, but I
• 1:23:18
  think it will be really cool for people to be able to go from
• 1:23:21
  having a talk and talking about abstract Bitcoin slash lightning
• 1:23:26
  concepts and then being able to walk straight out of the hall
• 1:23:29
  and actually watching, you know, Bitcoin being used as cash right
• 1:23:34
  there in front of them. That's what we'll be doing with
• 1:23:37
  that. Beautiful.
• 1:23:39
  Yeah, I'm, I'm, I'm looking forward to that.
• 1:23:42
  It's going to be an amazing event.
• 1:23:44
  Mark, could we could we drop the sauce?
• 1:23:46
  Could we make the announcement? Sure, let's, let's do.
• 1:23:51
  Let's do it all. Right.
• 1:23:52
  Well, Simply Bitcoin will be doing a Simply Bitcoin news desk
• 1:23:58
  at the Adopting Bitcoin conference.
• 1:24:00
  It's going to be absolutely awesome.
• 1:24:02
  We're going to be bringing our entire production crew and
• 1:24:05
  hopefully we're going to be getting these gentlemen in to do
• 1:24:07
  some interviews and awesome other Bitcoiners as well and
• 1:24:11
  really really looking forward to it.
• 1:24:13
  So guys get your tickets go to adoptingbitcoin.org again,
• 1:24:19
  adopting bitcoin.org. The conference is happening
• 1:24:23
  November 15th through the 16th and El Salvador.
• 1:24:26
  The lineup is absolutely bonkers.
• 1:24:29
  You could find a link in the video slash podcast description
• 1:24:33
  anyways guys, this was simply Bitcoin live for September 26th,
• 1:24:36
  2024. I'm your host, Nico.
• 1:24:38
  This is my Co host, Optimus Fields, our guests for for
• 1:24:41
  today, Kamel and James from adopting Bitcoin and of course,
• 1:24:45
  James from the BTC Farmers market.
• 1:24:48
  We'll see you guys in El Salvador and we'll be back
• 1:24:50
  tomorrow for another episode of Simply Bitcoin Live.
• 1:24:53
  Stay tuned for an episode of Simply Bitcoin Originals
• 1:24:56
  dropping later today from Ruston.
• 1:24:58
  Take care everybody. Brought to you by
• 1:25:02
  bitcoinwell.com, a Bitcoin only platform on a mission to enable
• 1:25:06
  financial independence.