Latest / Simply Bitcoin / YOU WONT BELIEVE WHAT JP MORGAN JUST SAID ABOUT BITCOIN | EP 1414

Transcript

YOU WONT BELIEVE WHAT JP MORGAN JUST SAID ABOUT BITCOIN | EP 1414 · Simply Bitcoin

• 0:00
  People are convinced that Bitcoin is in a bear market.
• 0:03
  The world's largest bank just published a letter claiming
• 0:06
  Bitcoin has officially bottom. But it's not just a $3.7
• 0:10
  trillion giant. We also have Bernstein making
• 0:14
  some interesting comments around Bitcoin's price.
• 0:17
  The real question is, what do they really know about Bitcoin
• 0:20
  that we don't? Again, I've been telling you
• 0:22
  guys for a while, is Bitcoin being driven by the institutions
• 0:27
  and are we really just a tail on the dog here?
• 0:29
  Because that's probably the big question for everyone All right
• 0:33
  guys, let's get into the snooze for today.
• 0:36
  Of course, I am not alone. I got Conrad, the community
• 0:38
  manager of Bitcoin. Well, so we are gonna be talking
• 0:41
  about Bitcoin well features in the culture later on today, but
• 0:45
  let's dive into the source material real quick.
• 0:47
  So this is coming from coindesk. I did Fact Check this, but I do
• 0:51
  like the article from Coindesk because it lays out a lot of the
• 0:54
  topics that JP Morgan was saying.
• 0:56
  Though to be clear, it wasn't Jamie Dimon officially saying
• 1:00
  that the Bitcoin bear market or rather that Bitcoin bottomed
• 1:04
  AT80K, but it's one of his analysts.
• 1:06
  And so you can, you can just infer that they they're not
• 1:09
  saying anything that Jamie Dimon doesn't really cosign here.
• 1:12
  So here's the headline. It is going into what I've been
• 1:15
  saying for a while. One of the key areas that we
• 1:18
  should probably be watching since the ETF was launched was
• 1:22
  the inflows to the ETF. This is kind of what's driving a
• 1:26
  lot of the price action. Yes, there's leveraged traders,
• 1:28
  yes, there's spot Bitcoin, but most of the bulk of the capital
• 1:32
  is coming through the ETFs. Now you could argue that they
• 1:35
  might be buying paper Bitcoin and not actually buying real
• 1:38
  Bitcoin, but from all the data, all the on chain data we've been
• 1:42
  seeing, they are actually buying all of this Bitcoin.
• 1:45
  So here's the headline. JP Morgan says the crypto sell
• 1:48
  off may be nearing a bottom as ETF outflows ease flow and
• 1:52
  positioning data suggests the recent crypto market correction
• 1:56
  may be running out of steam with early signs of stabilization
• 1:59
  across ETFs and derivatives. Now I did bring up what is it
• 2:05
  coin glass ETF inflow outflows and the data might be saying
• 2:10
  something a little different. So we will chat about that a
• 2:12
  little bit, but here we go. But again, they're saying the
• 2:15
  sell off might be over. It does seem like it might be
• 2:18
  over though we did get a couple corrections the last two days,
• 2:21
  but I'm I'm still feeling bullish guys, I'm still feeling
• 2:24
  bullish here. So it's saying that the Bitcoin
• 2:26
  markets may be nearing the bottom again with flow and
• 2:29
  positioning indicators pointing to stabilization after a heavy
• 2:32
  de risking late last year quote signs of a bottoming out in
• 2:35
  January are also seeing the other crypto indicators in
• 2:39
  perpetual futures and in our position proxies on CME futures.
• 2:43
  Now for you guys that are watching in the futures market,
• 2:45
  we did close the 90K gap yesterday.
• 2:48
  So if that is telling us anything, it might be time for
• 2:52
  liftoff. So they might not be too wrong
• 2:54
  here. But of course the real question,
• 2:57
  like I said, is do they really know what's going on?
• 2:59
  Part of me says yes. The other part of me is like you
• 3:02
  guys just got in Bitcoin last year, like, you know, sit back
• 3:05
  and and let the Bitcoiners kind of take this.
• 3:07
  But again, we were all wrong last year.
• 3:09
  Every one of our predictions was wrong last year, so it's hard to
• 3:14
  say who's actually right here. But anyways, going on the
• 3:17
  correction has coincided with heavier volatility, ETF outflows
• 3:21
  and a broader cooling and risk appetite across global markets,
• 3:24
  leaving, of course, Bitcoin range bound after last year's
• 3:27
  rally. Now, I think this is essentially
• 3:30
  what's been going on. I have been saying for a while,
• 3:33
  the macro factors, the macro indicators right now are kind of
• 3:38
  a little uncertain. They are starting to feel a
• 3:40
  little bullish. We did get a lot of headwinds
• 3:43
  last year, but as of now, things are kind of cooling off a little
• 3:47
  bit. There's still some uncertainty
• 3:49
  in the markets of what is actually going on, which is what
• 3:52
  we try to do is try to give you guys as much signal through the
• 3:55
  noise as possible or hopefully acknowledge that maybe we have a
• 3:59
  good vantage point and we can see the signal through the
• 4:01
  noise. But you know, who really knows?
• 4:04
  However, the analysts noted that the ETF data so far in January
• 4:07
  suggest selling pressure is easing, with flows into Bitcoin
• 4:11
  beginning to stabilize again. They're seeing similar signs of
• 4:15
  bottoming in perpetual futures and it's position proxies at the
• 4:19
  CME futures indicating that both retail and institutional
• 4:23
  investors may have largely completed the position
• 4:26
  reductions that that dominated the final quarter of 2025.
• 4:30
  And they go on to say that potentially the MSCI decision to
• 4:35
  not kick out strategy, it's probably a bullish factor in
• 4:39
  where Bitcoin is going towards the end of the year.
• 4:42
  Now, of course, there's all this idea or rather concern or rather
• 4:47
  talk about what's going on in liquidity.
• 4:49
  If you're looking at on chain data right now, if you're trying
• 4:52
  to make Bitcoin transaction, the blockchain is like absolutely
• 4:55
  dead. There's like no interest on the
• 4:58
  base layer right now. There is a lot of interest in
• 5:01
  the ETFs. Also last year, I actually saw
• 5:05
  an interesting tweet this morning essentially saying, and
• 5:08
  I've said this on the show before, that the kind of bubble
• 5:11
  we saw in the Bitcoin treasury markets may be what protects us
• 5:16
  from the downside in a Bitcoin bear market.
• 5:18
  It seems like a lot of the fervor, the FOMO happened in the
• 5:23
  Bitcoin treasuries and in all the stocks.
• 5:26
  And This is why we saw them kind of, you know, have their blow
• 5:29
  off top moments and come down and retrace.
• 5:31
  And I saw someone essentially arguing that that probably
• 5:35
  protected Bitcoin from having this blow off top.
• 5:38
  Or put another way, they probably took all the action
• 5:41
  away from spot Bitcoin because people weren't buying spot
• 5:44
  Bitcoin. They just got excited buying
• 5:46
  these treasury stocks. And hey, this could be, you
• 5:49
  know, a slightly better scenario moving into 2026.
• 5:52
  But like I said, I am going to show you the kind of current
• 5:56
  spot Bitcoin inflows here I am on coin glass.
• 6:00
  You can see here is the total Bitcoin spot ETF net inflows.
• 6:04
  And though they are kind of cooling off, you know, not as
• 6:08
  much or rather as deep outflows, the inflows are still not not
• 6:14
  that positive. Yes, there's some green on the
• 6:16
  chart, a little more green than red, but you can see the last
• 6:18
  couple of days we did get some net outflows, which you can
• 6:22
  argue is these institutional interest in Bitcoin is kind of
• 6:29
  waning a little bit. But what what could be the kind
• 6:33
  of answers to this or the reasons to this?
• 6:35
  I think a lot of people were essentially saying we saw a lot
• 6:38
  of the sell off at the towards the end of the year because of
• 6:40
  all the different, you know, tax liabilities, people selling out,
• 6:44
  securing some gains, you know, realizing hey, I might have a
• 6:47
  tax bill going into 2026 or rather more of a kind of trade
• 6:52
  reordering as we go into 20 26. So that's the initial takedown
• 6:57
  from JP Morgan. They're saying essentially what
• 7:00
  other analysts have been saying that Bitcoin probably bottomed
• 7:04
  out. I've been kind of on the fence
• 7:06
  of saying yes, I also believe it's bottomed out.
• 7:10
  Nico's been saying, hey, we're in a bear market.
• 7:12
  So I think pretty soon we will see who is right in this idea of
• 7:16
  whether Bitcoin four year cycle is in, whether 2026 is going to
• 7:20
  be a negative year or rather whether the institutions kind of
• 7:25
  fabricated this recent drop down to ADK, launched all these
• 7:30
  products and now they're ready to send it.
• 7:32
  So Conrad, before I move on to Bernstein's view on this exact
• 7:36
  same idea that Bitcoin bottomed out, do you hold any weight in
• 7:40
  JP Morgan's analyst talking about Bitcoin current price
• 7:44
  action? Opti, thank you very much for
• 7:47
  having me. And here here's why I do.
• 7:48
  Here's why I love this article. I'm a class of 2017 Bitcoiner.
• 7:52
  I remember when JP Morgan's, you know, CEO Jamie Dimon and all
• 7:56
  the other Wall Street CEO's were just poo pooping on Bitcoin.
• 7:59
  It was a Bitcoin to them was a joke.
• 8:01
  And now like Bitcoiners are the ones that are laughing because
• 8:04
  we realize that like, yeah, like we we've realized this and we've
• 8:06
  known this Wall Street is slow to the game.
• 8:09
  They're playing catch up and now they're talking about Bitcoin
• 8:11
  bottoming at 80 Ki. Remember when Bitcoin was rat
• 8:14
  poison? So like Bitcoin is going to be
• 8:16
  sending it this whole 80K slow down.
• 8:18
  I think you're right on that. Then I think there was some some
• 8:20
  quick games to be captured, especially by a lot of new, new
• 8:23
  institutional folks. And then the tail in the year,
• 8:25
  you know that that you know, that further draw down in price
• 8:28
  could just been some simple tax loss harvesting.
• 8:30
  I think overall we're seeing gold and silver pumping.
• 8:33
  People know that Fiat is doomed and people are looking for an
• 8:35
  exit. People are still learning that
• 8:37
  Bitcoin is the ultimate exit for that.
• 8:39
  So yeah, 80K sounding like sounding like a bottom.
• 8:42
  That sounds great to me. Yeah, I'm totally OK with 80K
• 8:45
  being the bottom, not only because of, you know, the
• 8:48
  current price action, but I I'm really, I'm really getting
• 8:51
  excited at taking my, my, you know, victory lap here being
• 8:55
  fully vindicated because me and Nico have been arguing on the
• 8:58
  show for the last like 2 to three months, ever since
• 9:00
  October, whether we're in a bear market, whether it's a four year
• 9:04
  cycle. And I keep trolling my dude.
• 9:06
  I'm, I'm starting to warm up for my victory lap here because I
• 9:09
  think I'm right here. I actually drew some funny lines
• 9:12
  this morning with Luke and it was just like, you know, it's
• 9:15
  hooking up. I'm like, here's my new line.
• 9:17
  I'm like, we're going to 101 ASAP.
• 9:20
  But I was little. I was trolling guys, you know,
• 9:22
  this is not financial advice. I'm not your your trading quant
• 9:25
  here. I'm not your TA guru.
• 9:27
  I just draw magic lines to kind of troll half the time.
• 9:30
  All right, so let's go into the other analysts essentially
• 9:34
  saying the same exact thing. This is coming from Bernstein.
• 9:37
  Obviously they're not as big as JP Morgan is, though.
• 9:41
  They have been pretty bullish on Bitcoin all of last year.
• 9:45
  You know, they hold about I think it's $820 billion of
• 9:49
  assets under management. So a little under 1 trillion
• 9:52
  doesn't really compared to the 3.7 trillion that is JP Morgan.
• 9:55
  Put another way, the words coming out of Bernstein do not
• 9:58
  hold the same weight that they do coming out of Jamie Dimon.
• 10:01
  But as you guys know, I believe the science when it confirms my
• 10:05
  bias. So hey, I like anyone calling
• 10:08
  that the Bitcoin price has bottomed out.
• 10:11
  This is from Yahoo Finance and it goes Bitcoin and broader
• 10:14
  crypto markets have quote bottomed out.
• 10:16
  Bernstein analysts say though they do kind of take a a
• 10:20
  slightly different view. It's not necessarily what's
• 10:24
  going on with ETF inflows and outflows.
• 10:27
  Theirs is, you know, slightly different, but it's essentially
• 10:31
  the same thing. So quote, we believe with
• 10:33
  reasonable confidence, again, reasonable confidence that
• 10:36
  Bitcoin and the broader digital asset markets have bottom, the
• 10:40
  team wrote on Tuesday, pointing to the 80K price in late
• 10:44
  November as the bottom. Obviously the kind of trending
• 10:48
  we've seen between this 9080 K I, I would argue it's pretty
• 10:53
  healthy right now and it is kind of holding up to the pattern
• 10:55
  we've seen since the ETFs have launched again.
• 10:59
  I got a couple of days, maybe a couple of weeks until I'm fully
• 11:02
  convinced that we are going to make another leg up currently,
• 11:06
  you know I'm I'm not as bullish as I was on Monday.
• 11:09
  I'm like man, the last two days is making me feel like we might
• 11:13
  be in for a drop, but it this does feel different than 2021
• 11:17
  anyways, they go further and it goes concerns at the October
• 11:19
  high of 126 marked the peak in a historical four year cycle for
• 11:24
  the token was overstated. Essentially saying that the
• 11:28
  digital asset revolution is here and that this is going to extend
• 11:32
  the bull run because of the institutional kind of interest
• 11:36
  in Bitcoin, which I think is really what is going on.
• 11:40
  Again, what do I know compared to anyone else?
• 11:43
  I'm just looking at the same data that you guys are.
• 11:46
  But this, this does feel to be the case.
• 11:48
  Anyways, last quote, as we have highlighted earlier, we believe
• 11:51
  the market concern on the four year cycle pattern is
• 11:54
  unwarranted in the current market context where
• 11:57
  institutional demand is driving adoption, which is literally the
• 12:01
  exact same thing that JP Morgan said, though they took it a
• 12:05
  little different. They're like, watch the ETF
• 12:06
  inflows, which is essentially saying, hey, the institutions
• 12:09
  are driving the price right now. Whatever Wall Street does,
• 12:12
  they're the ones making the ripples right now.
• 12:15
  They're the ones really driving Bitcoin.
• 12:17
  And as I've been saying, look, retail hasn't been in Bitcoin
• 12:21
  for, I would argue probably since 2021.
• 12:24
  Now, I know a lot of bitcoiners in the chat, they're always
• 12:27
  like, but bro, we are retail. And I'm like, yeah, but I would
• 12:31
  argue we're a slightly different category than just retail off
• 12:34
  the street getting into Bitcoin. The only people that have been
• 12:38
  in Bitcoin for the last I, again, I would argue a couple of
• 12:41
  years are the real true believers of Bitcoin.
• 12:44
  And if you're like me right now, you're like, I literally they
• 12:47
  have no more cash. It's like the meme.
• 12:49
  I bought the last dip. I bought every dip and it keeps
• 12:52
  dipping. Like when?
• 12:53
  When are we going to get some action here?
• 12:55
  Because I'm all out of Fiat. So if all Bitcoiners are in the
• 12:58
  same place where we really just have like pennies to get into
• 13:02
  Bitcoin, we're just waiting for either one, more institutional
• 13:07
  capital to flow into Bitcoin or two, a new cohort of Bitcoiners
• 13:12
  coming in a new a new kind of FOMO wave of retail getting
• 13:16
  excited about freedom money, about the gains or whatever
• 13:19
  really catches their attention. And as of now, again, looking at
• 13:23
  the on chain data, like I don't know if you guys are are not
• 13:27
  consolidating Bitcoin if you're not a part of the circular
• 13:30
  Bitcoin economy, but the fees have been pretty much non
• 13:33
  existent. Like you can you can make
• 13:34
  transactions right now for like 1 SAT.
• 13:37
  And I know we had the whole ordinals, you know, NFT rage and
• 13:41
  we were all playing crazy SAT and it was like, oh, Bitcoin's
• 13:44
  dead because of spam, bro. Like is the spam in the room
• 13:48
  with us right now 'cause like no one is using Bitcoin currently,
• 13:52
  which really does bring up the kind of the view of like, are
• 13:56
  these institutions, are these ETFs even buying Bitcoin?
• 13:59
  Cause where is it coming from? Though you could very easily
• 14:03
  kind of, you know, logically say that they're probably getting it
• 14:07
  from OTOTC desks and stuff like that.
• 14:10
  So it's not necessarily hitting the blockchain, but I, I really
• 14:14
  do believe they are capturing all the Bitcoin they claim to
• 14:16
  be. So look, it's not just JP Morgan
• 14:19
  saying the bottom is in. It's not just Opti saying the
• 14:22
  bottom is in. We have Bernstein also saying
• 14:24
  the bottom is in. And I really do believe that one
• 14:27
  of the bigger indicators that isn't necessarily saying the
• 14:30
  Bitcoin bottom is in, It's just the fact that all these Wall
• 14:33
  Street products have been launched.
• 14:35
  You know, JP Morgan came out created a strategy copycat.
• 14:39
  We have Bank of America saying, hey, you guys need to invest 1
• 14:44
  to 4% of your portfolios in the Bitcoin.
• 14:46
  We have Morgan Stanley filing for an ETF.
• 14:50
  BlackRock, of course, has been in Bitcoin for a long time now,
• 14:53
  like essentially all of the big banks and I know we're here to
• 14:57
  separate money from stay. I know we're here to basically
• 14:59
  buck the banks, but now all the banks are trying to position
• 15:03
  themselves to get into Bitcoin. And this has been basically my
• 15:06
  thesis for why I think 2026 is going to be different is we're
• 15:11
  getting, we're we're really getting more demand than is,
• 15:15
  than the Bitcoin that's being sell, that's being released on
• 15:17
  the blockchain. It's like the demand is starting
• 15:20
  to build up. It is coming.
• 15:22
  It's slowly but surely trickling into Bitcoin.
• 15:25
  And I think if this narrative continues to shift, if we get
• 15:28
  all of these analysts from these big banks to start shilling
• 15:31
  Bitcoin or even just putting 1 to 4% of their portfolios into
• 15:34
  Bitcoin, that is a lot more capital than it just sounds on a
• 15:38
  percentage basis. Like that is a significant
• 15:42
  amount of money coming into the Bitcoin ecosystem.
• 15:45
  And then you add on top of that, I don't know if you guys just
• 15:48
  saw, but Trump basically announced that, yeah, we're
• 15:50
  going to print even more money so that we can expand the, you
• 15:53
  know, defense contract spending. Every sign is showing the same
• 15:57
  thing. They're going to expand
• 15:59
  liquidity. It is coming 2026.
• 16:02
  They're going to run the economy extremely hot.
• 16:04
  And that's just talking about the US Everywhere around the
• 16:07
  world right now is talking about injecting liquidity into the
• 16:11
  system. Again, it doesn't necessarily
• 16:13
  mean A + B = C, but with more liquidity coming into the
• 16:17
  system, it's going to lead more people into hard assets, which
• 16:21
  is just like very simple, you know, 42 IQ take of what's going
• 16:26
  on. They print more money.
• 16:27
  People look for ways, ways to secure their wealth, and the
• 16:30
  only way to do that is to get an ass if they can't print.
• 16:33
  So that's kind of my basic view on all this.
• 16:36
  But again, Conrad, how much weight do you hold in these Wall
• 16:40
  Street analysts? Do you think they have, I don't
• 16:43
  know, backroom conversations? It's like Saylor.
• 16:46
  Saylor didn't seem panicked at all when strategy was crashing.
• 16:49
  It's because he was having these conversations with JP Morgan and
• 16:52
  Morgan Stanley. And he's like, bro, I'm good.
• 16:56
  I know what's coming down the pipeline.
• 16:58
  And this is kind of the sense I'm getting from these Wall
• 17:00
  Street analysts. They're they're kind of
• 17:02
  trickling out the the hopium. But I think it's based on a lot
• 17:06
  of the conversations behind the scenes that they can't actually
• 17:09
  talk about right now. So would you say that that's a a
• 17:12
  decent kind of view of where we are right now?
• 17:15
  Yeah, I, I think that the banks are starting to realize that
• 17:18
  there isn't much more room for us to fall down.
• 17:20
  And Opti, you touched on this earlier, like when you were
• 17:23
  mentioned that the four year cycle might be dead.
• 17:25
  What was in my opinion, driving the four year cycle in the past
• 17:28
  was huge sell offs coming from miners.
• 17:30
  But after, you know, another halving and those previous sell
• 17:34
  offs, miners don't have that same accumulation of Bitcoin
• 17:37
  that they need to get rid of. And where where's a lot of the
• 17:41
  Bitcoin purchasing being happening lately?
• 17:43
  Yeah, you've mentioned it. These ETFs, these corporate
• 17:45
  treasuries, these corporate treasuries aren't going to be
• 17:47
  letting go of their Bitcoin anytime soon.
• 17:49
  They're not kind of like a miner that needs to liquidate to kind
• 17:52
  of maintain their operations. These are debt finance basically
• 17:55
  insulated from the the company's operations.
• 17:57
  So we have a lot more protection on the downside.
• 18:00
  The demand is going to be kind of staying solid while there's
• 18:03
  we're not going to have this huge out on, you know, inflow of
• 18:05
  supply Bitcoin being sold on the market.
• 18:07
  So things are looking good that the fundamentals are lining up
• 18:10
  and I think the bankers are probably seeing the momentum
• 18:13
  start to shift and they're starting to notify their
• 18:16
  customers about that. Yeah, 100%.
• 18:18
  And and also not only just seeing the momentum shift, I
• 18:23
  think they're one of the main drivers of the momentum
• 18:25
  shifting. That was kind of one of the,
• 18:28
  the, I don't know, heuristics I had for last year that seeing
• 18:32
  all of these extremely influential Wall Street managers
• 18:36
  and banks come into Bitcoin. I was kind of at loss last year
• 18:39
  where I'm like, look, everyone is kind of embracing Bitcoin
• 18:42
  right now. How come we're not seeing Main
• 18:45
  Street start to FOMO into Bitcoin?
• 18:47
  And from a Bitcoiners perspective, it's like very,
• 18:49
  it's very obvious why. It's like we we, you know, you
• 18:51
  know, slay your heroes. We don't care what the authority
• 18:54
  figures say. But also you would think that
• 18:57
  the average person that does listen to maybe their Charles
• 19:00
  Schwab advisor would be like, yeah, maybe I need to buy some
• 19:02
  Bitcoin. But you can tell there's still a
• 19:04
  lot of friction between what the asset managers are saying and
• 19:09
  what kind of mainstream, like investors believe in Bitcoin.
• 19:14
  We still kind of have this idea of like, Oh yeah, you're, you're
• 19:18
  kind of embracing Bitcoin. But I really don't want to touch
• 19:21
  Bitcoins. Like maybe I'll just go into the
• 19:22
  gold trade because I'm a little more familiar with it.
• 19:25
  And now we're starting to see that it's like an army of of
• 19:29
  Wall Street analysts being like, yeah, you should probably buy
• 19:33
  some Bitcoin right now. And people are still kind of
• 19:36
  fighting it. I was telling a story of one of
• 19:38
  my friends. He he actually works at Morgan
• 19:40
  Stanley and he's like an analyst himself.
• 19:42
  And over the holiday breaks, he was still kind of fighting the
• 19:46
  idea that the banks were embracing Bitcoin.
• 19:48
  And I'm like, dude, like, what are you talking about?
• 19:50
  Like literally every bank is embracing Bitcoin at this point.
• 19:53
  And then the first week of 2026, the bank he's working at like,
• 19:57
  yeah, we're going to file an ETF here.
• 19:59
  And I haven't hit them up yet, guys.
• 20:01
  So, but yeah, I, I think it, it's one of these things of, you
• 20:06
  know, changing people's minds doesn't happen overnight.
• 20:09
  And especially from an institutional level, they
• 20:12
  literally, they takes forever for them to like make moves.
• 20:15
  And even though we're seeing the pressure of institutions start
• 20:18
  to embrace Bitcoin, they're trying to move quicker to get
• 20:22
  into Bitcoin. I think these things do happen
• 20:25
  as the meme goes gradually, then suddenly and we're.
• 20:27
  Still currently in that gradually moment.
• 20:30
  And I think the other question is like, at what point do people
• 20:34
  start to FOMO into Bitcoin? At like what price point do
• 20:37
  people start to lick a Bitcoin and be like, oh, I really need
• 20:40
  to buy this because we all know, you know, retail normies you,
• 20:43
  you chase the Bitcoin price. I did it when I first started.
• 20:46
  I'm like, yo, this is at like 10K, it's going up forever.
• 20:50
  I need to really buy this. And then it goes to 20 and
• 20:52
  you're like, I really need to buy this.
• 20:54
  And then that was the top. And you have to learn what
• 20:57
  you're holding on to, so. And the and the price gains
• 20:59
  solidify Bitcoin scarcity. Like right now we're seeing gold
• 21:03
  and silver pump. We know that gold and silver,
• 21:05
  there's going to be more of it being mined because the price of
• 21:08
  it has gone up. So the more expensive to mine
• 21:10
  gold and silver is now going to be profitable.
• 21:12
  That can't happen with Bitcoin. And the banks have to be
• 21:15
  realizing this that not only is Bitcoin in a lot of time
• 21:17
  reference time frames the fastest horse, but Bitcoin is
• 21:20
  also the strongest horse because it can carry the most capital
• 21:23
  without sacrificing A scarcity element.
• 21:25
  Like Bitcoin is the only asset ever that has a perfectly
• 21:29
  inelastic supply curve. Fancy economic speak basically
• 21:33
  means that no matter how much the price of this increases, we
• 21:36
  cannot increase the supply. The supply is what it is.
• 21:38
  It's 21 million slowly leaked out on a decreasing schedule
• 21:41
  with having four years that cannot be tricked.
• 21:44
  And that's new to bankers. Bankers are completely
• 21:47
  unfamiliar with this. So as they're starting to wrap a
• 21:50
  head around it, they're realizing that it's flipping
• 21:52
  their whole world upside down. And the ones that do realize
• 21:55
  this probably have to, for the sake of keeping their jobs in
• 21:58
  respect of their peers are probably being a little bit
• 22:00
  quiet about it. They're not trying to the pot
• 22:02
  too much, but the ones that are getting it are like leaving
• 22:05
  banking and moving into crypto or Bitcoin specifically because
• 22:08
  they realize that Bitcoin is the future.
• 22:10
  Bitcoin is unstoppable, perfectly scarce.
• 22:13
  It is perfect money encoded for us to use and there's no other
• 22:17
  better horse than Bitcoin, and they're realizing that.
• 22:20
  Yeah, no, I, I love that you said that 'cause I, I keep
• 22:23
  saying that on the show. I, I've noticed a trend not just
• 22:27
  in our chat, but amongst Bitcoiners on Twitter as well,
• 22:31
  is that there was always this trend for a while, and I'm also
• 22:34
  a 2017 Bitcoiner, but there was always this trend or this kind
• 22:38
  of meme or rhetoric that like, oh, the bankers don't know what
• 22:41
  Bitcoin is, bro. Like they're stupid, They don't
• 22:44
  understand this thing. And for a while there, I like
• 22:47
  kind of believed it. And in the last recent years,
• 22:50
  I'm like, guys, they know exactly what this is, but they
• 22:52
  just can't actually go out there and be like, yeah, you need to
• 22:55
  buy a bunch of this. So I agree with you.
• 22:58
  I think on the back end they're probably acquiring some Bitcoin,
• 23:01
  but publicly they can't really be full blown, you know, Bitcoin
• 23:05
  evangelist yet until all of these pieces are in place, until
• 23:09
  all of the regulation is in place, until, you know,
• 23:13
  essentially it is no longer career suicide decide to embrace
• 23:17
  Bitcoin. It's the opposite.
• 23:18
  It's like if you're not shilling Bitcoin at a certain point or
• 23:22
  like, why are people going to trust you?
• 23:24
  We're still kind of in that beginning phase where people are
• 23:27
  like tentatively embracing Bitcoin.
• 23:30
  They don't fully love it, but they also are like bending the
• 23:32
  knee and begrudgingly talking about Bitcoin.
• 23:35
  And then at a certain point we're just going to get a
• 23:37
  tsunami of all of the big guys being like, see, I told you
• 23:41
  guys, Bitcoin is the greatest invention ever.
• 23:43
  You know, it's the best asset the last 17 years.
• 23:45
  You need a buy this, you need to sell your house.
• 23:47
  What's the, the, you know, sell your chairs like why are you in
• 23:50
  a chair? You need to be buying Bitcoin.
• 23:53
  We aren't there yet, but it's going to happen at some point.
• 23:55
  I'm fully convinced it's going to happen.
• 23:57
  But hey, we might be waiting around a lot longer than we
• 24:01
  thought we were as 2025 was a perfect example of.
• 24:05
  So that's kind of where I'm at right now, but we'll see, we'll
• 24:08
  see. We'll see who's right
• 24:09
  eventually. And one of the things too is
• 24:12
  like, I think the bankers are in bit of a position because the
• 24:14
  more you understand Bitcoin and I had this realization as I was
• 24:18
  like really getting Bitcoin for the first time.
• 24:20
  It's like this is so antithetical to what banking is.
• 24:23
  Like banking is an industry that is required because, you know,
• 24:27
  people can't be trusted to transact with one another.
• 24:28
  And we have a third party transactor problem.
• 24:31
  But also the same time we have this investment industry that's
• 24:34
  that's basically subsidized by the government by necessitating
• 24:38
  inflation. So the only real reason everyone
• 24:40
  needs to speculate these risky financial assets is because
• 24:43
  we're forced to have inflation, which gives the bankers extra
• 24:46
  business. But Bitcoin kind of flips all
• 24:48
  that upside down because you could be your own bank for free.
• 24:51
  You can transact your own currency for free.
• 24:54
  And when the higher security than using a bank and at the
• 24:56
  same time this asset has scarcity built into it.
• 24:59
  So you're also out outpacing the inflation that kind of
• 25:03
  necessitates this previous investment industry to exist.
• 25:06
  So as an investment banker on your porch, I would be like, Oh
• 25:08
  my God, this kind of replaces my the need for my company to
• 25:12
  exist. Bitcoin does all.
• 25:13
  It's a full stack in investment banking and consumer banking
• 25:17
  service. There's not really much need to
• 25:20
  be a banker anymore once everyone embraces Bitcoin.
• 25:23
  Yeah, it's literally an existential crisis for them.
• 25:25
  They're like, look, it's here, it's not going away, but I don't
• 25:30
  really want to embrace it too much because my paycheck depends
• 25:33
  on it, but I also have to kind of embrace it or I'm, you know,
• 25:38
  not adapting to the time. So I, I would totally agree with
• 25:41
  with that perspective, Conrad 100%.
• 25:44
  All right, guys, before we keep moving, we have a great show for
• 25:47
  you guys. So look, Elon Musk came out a
• 25:50
  couple of days ago. He seems to be coming around on
• 25:53
  Bitcoin, or at least at the very least he understands what is
• 25:56
  going on here. And then in the news, I got an
• 25:59
  update about the US Marshals selling the Samurai wallet devs
• 26:04
  Bitcoin. They actually responded to this.
• 26:07
  So it's getting a little spicy over there.
• 26:09
  I'm I'm surprised the US Marshals even know what Bitcoin
• 26:12
  Magazine is. And then in the culture, we're
• 26:15
  going to be talking with Conrad, all the great features from
• 26:19
  Bitcoin. Well, but actually Conrad's
• 26:21
  going to make a special PSA. It's the beginning of the year
• 26:24
  on why you need to DCA Bitcoin, obviously with Bitcoin Well, so
• 26:30
  that's the layout for today's show.
• 26:32
  One quick commercial break and we will be right back.
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  se-ed.com store. Hey yo guys, the chat is a while
• 28:49
  in today yeah they they say I'm they you guys are saying I'm an
• 28:55
  OP No, I'm just very low IQ. Okay, all right, that's the
• 28:59
  secret here guys let me let me let me let me let you in on the
• 29:02
  secret I'm kind of regarded okay anyways, anyways, we're over
• 29:06
  here on Clark Moody's dashboard. The current Bitcoin price is
• 29:09
  $91,170, which is a 27.7% discount from all time high.
• 29:15
  The market cap is bubbling a little bit.
• 29:18
  We're we're still struggling under 2 trillion It's currently
• 29:20
  at $1.82 trillion and the block height is 931,448.
• 29:27
  I repeat 931448. So hey, you know, Bitcoin price
• 29:31
  isn't going up, but block height sure is going up.
• 29:34
  So Bitcoins working exactly as designed.
• 29:37
  Anyways, as I said, Elon Musk was on this podcast and if you
• 29:43
  know anything about the Elon Musk saga, for a while there, it
• 29:47
  seemed like he fully understood Bitcoin and then he kind of was
• 29:52
  trolling and went all in on Dogecoin.
• 29:54
  And I think still to this day, you can buy Tesla with Doge,
• 29:58
  which would be like, I don't even know how many dodge to buy
• 30:01
  a Tesla right now. But he does have that main saga
• 30:04
  of a few years ago. He's like, look, we're going to
• 30:07
  sell some Bitcoin until Bitcoin is 51% green.
• 30:10
  We got that 51% green number and still crickets from Elon.
• 30:15
  Though. In the last couple of weeks, we
• 30:17
  have seen Elon Musk's narrative shift around Bitcoin.
• 30:21
  Or rather, he's kind of saying things that sound like he
• 30:24
  understands Bitcoin without actually saying Bitcoin.
• 30:27
  And this is one of those moments.
• 30:29
  If you didn't know any better, you'd think he was talking about
• 30:32
  Bitcoin specifically. But since it's Elon, you're kind
• 30:36
  of wondering like, is he talking about Bitcoin or is he talking
• 30:39
  about a shit coin? Like what?
• 30:40
  What's going on here? But he gets the basis of the
• 30:43
  conversation. So let's play this short clip
• 30:46
  and then we're going to chat on whether Elon Musk gets Bitcoin.
• 30:49
  Did he get the call? You know, did Elon finally get
• 30:52
  the call to embrace Bitcoin? Or is he just still out here
• 30:55
  trolling 'cause this sounds like a Bitcoin or meme right here.
• 30:58
  But he doesn't say the B word yet.
• 31:00
  So check this out. Yeah, I, I think like, I, I
• 31:05
  think the future currency will essentially just be wattage.
• 31:10
  Yeah, I was thinking is it is it is the ability of a person to
• 31:13
  control energy and compute or just energy?
• 31:18
  I mean the two or the two translate just like harness
• 31:22
  energy. Yeah, like so or like basically
• 31:25
  how much power is being turned into work of some kind, Right,
• 31:30
  intelligence or matter manipulation?
• 31:36
  Rose He he like literally almost said the self.
• 31:41
  What's it? What's man?
• 31:42
  I'm blanking on his name. Is it Kevin Lowry?
• 31:45
  Think of the the software thesis like whoever can control the
• 31:49
  most Bitcoin miners will be the leaders of the new world.
• 31:52
  Bitcoin is energy money. Now, again, if you listen to
• 31:56
  this on its surface from a Bitcoin's perspective, you're
• 31:59
  like, he's obviously talking about Bitcoin.
• 32:01
  It's like Bitcoin is energy money.
• 32:03
  You know, you literally plug in a six, you plug in minors, you
• 32:06
  use energy and it and it spits out Bitcoin.
• 32:10
  It's like the only legal money printer for us plebs out here.
• 32:13
  But when it comes from Elon, it makes you wonder.
• 32:17
  It's like, did he? I've been joking that he finally
• 32:20
  got the call to embrace Bitcoin from, you know, whoever his boss
• 32:24
  is basically. But since it's from Elon, you're
• 32:26
  like, dude, is he is he talking about there's going to be like a
• 32:29
  new shit coin, you know, a new bit with a new Bitcoin as energy
• 32:33
  money. It's going to be what money sign
• 32:35
  energy on the exchanges. And like this is the real
• 32:39
  currency of the future. I don't know, but from a very
• 32:43
  simple view of this is like he's obviously talking about Bitcoin
• 32:46
  like it, it couldn't be any more obvious, but.
• 32:49
  Definitely not Dogecoin. It's definitely not Dogecoin
• 32:52
  exactly. I mean, I haven't looked at
• 32:54
  Dogecoin's hash rate recently, but you know, I, I, I'm going to
• 33:00
  venture to guess it's nowhere near Bitcoin.
• 33:02
  So, you know it, it's nowhere near harnessing the most amount
• 33:05
  of energy to convert it into a currency or into a money.
• 33:09
  So I don't know, man, Elon Musk, he's an interesting character to
• 33:14
  say the least. I know the chat doesn't
• 33:16
  necessarily like him. I'm a little skeptical of Elon
• 33:18
  Musk per SE, but he's talking about Bitcoin.
• 33:22
  It it's very obvious this is about Bitcoin.
• 33:24
  But also coming from him, it might not be, I don't know,
• 33:28
  maybe he's going to show another shit coin.
• 33:29
  So Conrad, what's your take on Elon Musk?
• 33:32
  Wait, first of all, what's your take on just the energy currency
• 33:35
  aspect of this and whether you think Elon Musk is going to
• 33:38
  finally come around in 2026 to embrace Bitcoin?
• 33:42
  Great, great question, Opti. So I'll start this off with a
• 33:45
  little bit of a story because I am a huge econ nerd and when I
• 33:48
  visit the United States, most people probably think about
• 33:50
  going to, I don't know, cool, cool places, cool sites.
• 33:53
  I go to visit the Federal Reserve.
• 33:55
  I know it's super lame, but what's really cool about visit
• 33:58
  the Federal Reserve is they have different generations of dollar
• 34:00
  bills stamped on the ceiling and in frames.
• 34:02
  And what you're able to see there is the different wordage
• 34:05
  on the the notes. And if you look at today's
• 34:07
  currency, it says like this is legal tender, which as bit
• 34:10
  corners know means absolutely nothing.
• 34:13
  But if you look at the older bills before 1934, it says this
• 34:17
  is fully backed and redeemable by in gold.
• 34:19
  So what that meant was your dollar was literally backed by
• 34:23
  gold. So it was just a convenient
• 34:25
  mechanism to move gold around and denominate gold.
• 34:28
  And what you could do is take your $25 into any bank and say I
• 34:32
  want my gold and they will give you your gold in return.
• 34:35
  Bitcoin isn't going to really like Bitcoin isn't backed by
• 34:38
  energy because energy isn't priced the same way that
• 34:40
  commodities are. Commodities have a uniform price
• 34:43
  all globally, like the price of gold in Toronto versus the price
• 34:46
  of gold in New York, it's the same price, but the price of
• 34:48
  energy across regions varies dramatically.
• 34:50
  And that's not really the greatest way in my opinion to
• 34:53
  view Bitcoin as being backed by energy.
• 34:55
  I would argue that more that the like Bitcoin is like energy is
• 34:58
  kind of like the ticket to play the Bitcoin mining game where
• 35:00
  you can earn money. So I would say Bitcoin is more
• 35:02
  constrained by energy, not backed by energy because it's
• 35:06
  not fully redeemable for energy. Granted, yes you could buy
• 35:09
  energy with it, but it it doesn't have like an like a
• 35:12
  standardized energy wattage associated with an amount of
• 35:15
  satoshi's for example. Got it.
• 35:17
  I love that. That's actually a great take.
• 35:19
  Well, you know, I've been saying for a while we're going to get
• 35:22
  to the Petro sat soon enough, so maybe we'll get to I I don't
• 35:26
  even know how you'd say in in terms of jewels, but you know,
• 35:29
  we'll we'll get to the point where jewels are priced in shats
• 35:32
  as well. So maybe that's just the long
• 35:34
  term future from here. But hey, there's a chance boys,
• 35:38
  there's still hope here. There's still some hope here.
• 35:40
  We we actually have the pretty good comment here.
• 35:43
  He goes New Jersey, Ben goes, he's talking about any company
• 35:45
  that can make or supply power, feed everything AI.
• 35:48
  Honestly, I, I think that's a really good take, especially
• 35:51
  with the fact that he recently just said like the craziest
• 35:55
  thing I've ever heard in my life, that you shouldn't save
• 35:57
  money because AI is going to make us more, you know, what do
• 36:00
  you say? It's going to make us more
• 36:02
  profitable. We're going to have more leisure
• 36:04
  time. Everything's going to be more
• 36:05
  abundant. So you don't even need money.
• 36:08
  So that that actually might be a good take.
• 36:10
  He's like, he's just talking about AI companies at this
• 36:12
  point. Obviously he loves his Grok, so
• 36:16
  that that might be that, that that could be a very good take
• 36:19
  on on what his actual stance is on this.
• 36:21
  But I don't know. I'm still convinced Elon got the
• 36:24
  call. He's going to start embracing
• 36:26
  Bitcoin soon. I'm I'm seeing the signs.
• 36:29
  It's going to happen. He's going to go full Bitcoin.
• 36:31
  He actually he's going to go Bitcoin and doge again.
• 36:33
  He came so close, right? Like I remember in 2020, I was
• 36:36
  like stoked. Like Sailor was stocking Bitcoin
• 36:39
  and Steven was like, I get Bitcoin and just preaching it
• 36:42
  and everyone is like, yes, this is like so succinct, so well
• 36:44
  put. And then Elon comes on seeming
• 36:46
  to echo that stacking with Tesla and everyone's like, OK, Like I
• 36:50
  remember the end of 2020, it was like, this is like corporate
• 36:52
  adoption. This was like the the hope that
• 36:55
  we had in 2017 that the institutions were going to come
• 36:57
  and when they come, they're going to pour in the same way
• 36:59
  that retail did. And they were starting to.
• 37:01
  And then Elon started talking about Doge.
• 37:03
  Then we had the Defy and NFTS. And it seemed like that whole
• 37:06
  momentum gained during that market just fizzled out into
• 37:09
  kind of just shit coinery. And that was disappointing.
• 37:11
  So if Elon Musk is really serious about Bitcoin, I would
• 37:15
  love to hear him actually mention Bitcoin and like
• 37:17
  denounce Doge or anything like that.
• 37:20
  Just yeah, Elon, if you're serious about Bitcoin, say
• 37:22
  Bitcoin and actually talk about it.
• 37:23
  I'd love to see that. Yeah, yeah.
• 37:26
  Well, you know, unbeknownst to me, a lot of people really don't
• 37:31
  like Elon. I just am critical of a lot of
• 37:34
  the narratives. But Elon does get a lot of hate.
• 37:36
  And look, I've driven a Tesla. They're pretty fucking cool
• 37:40
  cards. You know, whether you believe
• 37:42
  space is real or not, the SpaceX edits are freaking amazing.
• 37:46
  You know, like the fact that he bought Twitter and allowed some
• 37:50
  more semblance of free speech on it.
• 37:52
  Like, you know, whether Elon is the guy that everyone thinks he
• 37:56
  is, like he does a lot of cool shit.
• 37:58
  You know, I, I, I got to give him that.
• 38:00
  And so it would be awesome. And then I guess on paper, you
• 38:04
  know, technically the richest man in the world, if the richest
• 38:06
  man in the world goes full Bitcoin, like, you know, I'll
• 38:10
  take back all the mean things I've ever said about Elon at
• 38:12
  this point. If he just goes full maxi
• 38:14
  embraces it shows it. I'll I'll be nice to Elon, OK, I
• 38:18
  I am that I am that superficial. If you embrace Bitcoin, Hey,
• 38:24
  you, I may not necessarily like you.
• 38:26
  I don't have to be your friend, but I I will talk nice about
• 38:28
  you. OK, that's just how that's my
• 38:30
  views here. And the dude's catching rockets
• 38:32
  in the ocean, right? Like, there's, you know, like
• 38:34
  that, that that's pretty cool. Like, I remember the first time
• 38:36
  seeing those rockets flip upside down.
• 38:37
  I'm like, OK, we're like, we're in the future now.
• 38:39
  This is really cool. I totally agree.
• 38:42
  You know, again though, some of the edits do seem a little bit
• 38:45
  like CGI. DA little bit.
• 38:47
  I'm not gonna lie, I look at some of that.
• 38:48
  I'm like, no, no, this looks better than a movie, but it also
• 38:51
  kind of looks like a movie. I'm not a flat earther.
• 38:54
  I believe in space. Full disclosure, I'm a I'm a
• 38:57
  what do you guys call me in the chat?
• 38:58
  I'm a glober. I'm a you know, I believe in
• 39:01
  space, I'm a glober. All right, So Full disclosure
• 39:04
  there. But it's it's badass.
• 39:06
  Like, again, if it's happening, it's badass.
• 39:10
  I've never seen one personally. So that'd be my take on all
• 39:13
  that. All right, let's hit one more
• 39:15
  commercial and then we're going to talk about the Samurai
• 39:18
  wallet. Deb, what happened with their
• 39:21
  Bitcoin? I covered this, I believe it was
• 39:23
  on Monday. We got we got some some more
• 39:26
  news on this. So we'll be right back and we
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  will chat about it. I want to give a shout out to
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• 42:02
  Oh man, oh man, Conrad I I opened up a can of words worms
• 42:07
  by talking about Flat Earth and and apparently the official term
• 42:11
  is globe tard. So I am a globe tard, but yeah,
• 42:16
  a whole can of words about moon landings and everything in the
• 42:18
  chat. Anyways, let's not get back into
• 42:21
  it. Here's here's today's news
• 42:22
  story. So Senator Lummis, in response
• 42:26
  to the Bitcoin magazine article that they got, you know,
• 42:30
  official exclusive rights to the court papers essentially saying
• 42:36
  that when the Samurai wallet Debs paid about $6 million in
• 42:41
  Bitcoin, that the US Marshals at the behest of the DOJ sold that
• 42:46
  Bitcoin. Senator Lummis the following day
• 42:50
  responded to this and here's her response to it.
• 42:52
  Of course, here's on DL news Pro crypto Senator Cynthia Lummis
• 42:55
  worried over government's reported Bitcoin sales.
• 42:59
  So that's where where do we go? Here we go.
• 43:03
  Here's Senator Lummis tweet and she goes, why is the US
• 43:06
  government still liquidating Bitcoin when Trump explicitly
• 43:09
  directed these assets be preserved for our strategic
• 43:12
  Bitcoin reserve? We can't afford to squander
• 43:14
  these strategic assets while other nations are accumulating
• 43:17
  Bitcoin. I am deeply concerned about this
• 43:20
  report. Now, of course, Senator Lummis
• 43:22
  did announce that she's not going to run for re election in
• 43:26
  2027. So this could be Senator Lummis
• 43:29
  going just extremely hard before she's kinda, you know, goes to
• 43:32
  whatever she wants to do next. Now, obviously, we talked about
• 43:37
  this on the show. Not going to rehash those
• 43:40
  conversations, but this report does offer a response from the
• 43:45
  US Marshals. So citing court documents Monday
• 43:48
  again, Bitcoin Magazine reported that the US Marshals services
• 43:52
  appeared to have sold the $6.3 million worth of Bitcoin that
• 43:55
  the Samurai wallet devs paid the DOJ as part of their guilty
• 43:58
  plea. The magazine, of course, went on
• 44:01
  to say that they violated Executive Order 142 233, which
• 44:04
  again mandates that they don't sell any Bitcoin that has been
• 44:08
  seized. Now here's where it gets
• 44:10
  interesting after the publication of this story, the
• 44:13
  United States Marshall Service told DL news that it quote, has
• 44:17
  not sold the Bitcoin mention and it has quote no idea how Bitcoin
• 44:22
  magazine would get that information, but they did not
• 44:25
  Fact Check nor contact us for information.
• 44:28
  Again, quote the US Marshals cryptocurrency liquidations go
• 44:32
  through a multi T level approval process to ensure only forfeited
• 44:37
  digital assets that meet the requirements of section D of
• 44:40
  executive order 14233 are disposed.
• 44:43
  So they're saying it was not fact checked.
• 44:46
  But again, when we covered this, it was pretty clear that the
• 44:51
  Bitcoin on that specific address ended up going to Coinbase.
• 44:55
  So at this point it's like, OK, who's lying here?
• 45:00
  First of all, like I said, I I find it interesting the US
• 45:03
  Marshals like directly named Bitcoin magazines like, yeah,
• 45:05
  who the fuck are these Bitcoin magazine guys?
• 45:07
  I don't know where they got this information.
• 45:09
  Well, the information they had was literally court papers.
• 45:12
  So I don't know, I know this is the US Marshals trying to save
• 45:15
  ass here because they got caught.
• 45:18
  You know, maybe they did something literally kind of
• 45:23
  trying to not follow the president's orders.
• 45:26
  And now that they got caught, they're like, oh shit, this is,
• 45:29
  you know, this is fake news though.
• 45:31
  Obviously they're not going to actually be able to get back
• 45:33
  that Bitcoin though. It does sound like a lot of
• 45:35
  bureaucracy. They're like, you know, goes
• 45:37
  through multi level decisions to sell that Bitcoin though, from
• 45:41
  the Bitcoin magazine paper or report.
• 45:44
  It literally said, like the DOJ told the US Marshals to sell it
• 45:47
  and they sold it. So this is like the most recent
• 45:51
  update on this. Obviously, I, I might, I might,
• 45:56
  I'm biased here. I'll probably go with the
• 45:59
  official, you know, court papers here saying that it's sold.
• 46:03
  I'll go with the on chain data that there's no Bitcoin in that
• 46:07
  address anymore and it went to Coinbase basically assuming it's
• 46:11
  been sold. I think the US Marshals might be
• 46:14
  saving some ass here. But hey, I what do I know?
• 46:17
  What do I know what goes on over there?
• 46:19
  So I mean. Best case scenario.
• 46:21
  On this. But best case scenario, it's
• 46:23
  like what they're they didn't sell it, but they're afraid to
• 46:25
  custody their own Bitcoin. Like why would they need to send
• 46:28
  it to Coinbase if they aren't selling it?
• 46:30
  That just seems like there's a custodial issue.
• 46:33
  Yeah, and further, it's not like the US government on and you
• 46:37
  guys can Fact Check me, but as far as I remember, it's not like
• 46:40
  the US government is using Coinbase to custody all of the
• 46:44
  quote strategic Bitcoin reserve that we currently do have.
• 46:48
  So that is like the big question.
• 46:49
  It's like, OK, if you didn't sell it, then why are you
• 46:52
  sending it to Coinbase and why is there no Bitcoin left at all
• 46:56
  in these addresses? So look, I, I think the US
• 46:59
  Marshals is trying to, you know, save their own ass here.
• 47:03
  It seems like the DOJ told them to sell that Bitcoin and now
• 47:06
  they got caught with their hand in the cookie jar.
• 47:08
  And they're like, actually, we didn't, we didn't sell this, you
• 47:11
  know, don't fire us, Trump, 'cause we are doing literally
• 47:15
  the opposite of what you're saying.
• 47:16
  Though again, from a more hardcore bitcoiner perspective,
• 47:21
  I'm kind of OK with government selling their Bitcoin to us,
• 47:24
  especially on discount. Like I'm, I'm totally OK with
• 47:27
  this at this point, especially if we can confirm now and we
• 47:30
  haven't been able to confirm this yet.
• 47:33
  But if the reports are true, the US government essentially now
• 47:38
  has potentially close to 1,000,000 Bitcoin after this
• 47:41
  whole Venezuelan Bitcoin seizure, asset seizure protocol
• 47:46
  that we just saw recently. So I don't think they're really
• 47:48
  going to miss, you know, I think it was something around like 53
• 47:51
  Bitcoin. But if you're if you're from
• 47:54
  Trump's perspective here, you want to be the Bitcoin
• 47:56
  superpower of the world, every Bitcoin counts, as we like to
• 47:59
  say, every SAT counts, which I think is a perfect Segway Conrad
• 48:04
  to the culture because we're going to be talking about DCA
• 48:07
  ING and and why this is the perfect time to set up ADCA.
• 48:10
  So last ad and then we're going to just shoot the shit with our
• 48:13
  boy Conrad here from Bitcoin. Well, so we'll be right back.
• 48:17
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  You can catch the latest buzz at Hive Digital Tech or at Hive
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  digitaltech.com. I want to give a shout out to
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• 50:13
  All righty then guys, we are back and I am going to tell you
• 50:16
  guys we are going to do a couple of Wishing Well SAT giveaways.
• 50:21
  So get your Lightning wallets ready.
• 50:23
  I am logged in. But before we do that, Conrad,
• 50:27
  you did want to give a special PSA here and rant about why you
• 50:32
  think DCA is so important and it's the beginning of the year.
• 50:35
  And you did say like this is a better New Year's resolution
• 50:38
  than getting fit in the gym. Now I'm, I might argue a little
• 50:42
  different. You you should do both of these.
• 50:43
  You should be getting fit in the gym and do ADCA, but floors are
• 50:47
  you're a Conrad. What?
• 50:48
  What is this take here that they should set it up now for the
• 50:51
  beginning of the year? Yeah, man, for the new year,
• 50:53
  ditch the ditch the trendy diets, ditch the the fancy,
• 50:56
  whatever you want. You know, ditch the
• 50:57
  subscriptions. The subscription that you want
• 50:59
  is a buying Bitcoin subscription.
• 51:02
  You want to automate your Bitcoin purchases.
• 51:04
  And I got a couple of notes on this.
• 51:06
  One thing I've seen with my Bitcoin DCAS over the last few
• 51:09
  months is it feels like I'm getting a raise every time the
• 51:11
  price of Bitcoin goes down and I'm buying, say 100 bucks of
• 51:14
  Bitcoin a paycheck. I'm getting more Bitcoin.
• 51:16
  That's like that feels good. Like I think the best way that
• 51:19
  you want to be looking at Bitcoin is you want to have it
• 51:22
  in self custody. So you can guarantee that you
• 51:23
  own that Bitcoin and can use it now and into the future.
• 51:27
  But also you just want the amount of Bitcoin you have to go
• 51:30
  up. You don't want to necessarily be
• 51:31
  thinking about a dollar value going up.
• 51:33
  Like so even if in theory my dollar value of my stack is
• 51:36
  going down as a price falls, I'm still having more Bitcoin
• 51:39
  because I'm buying constantly. And that also allows you to like
• 51:42
  enjoy your life better. Like my first job in Bitcoin was
• 51:46
  as a trader for a company. And like that is a pretty
• 51:49
  intense job. I did afterwards as well for
• 51:51
  myself on the side. And that's a lot of work.
• 51:54
  And for a lot of people, I would argue the juice isn't worth the
• 51:57
  squeeze. Just automate your Bitcoin
• 51:59
  purchases. Don't think about it and just go
• 52:00
  and live your life. Like we spend so much time
• 52:03
  worrying about the cost of living, the cost of inflation
• 52:07
  goes, grocery store prices going up.
• 52:09
  We don't need to spend more time worrying about the cost of
• 52:11
  things. Just automate your Bitcoin
• 52:13
  purchases. The amount of Bitcoin you have
• 52:15
  is going to increase over time and then you're going to be
• 52:17
  better because of it. You're going to have more
• 52:19
  Bitcoin in the future and you're not going to be worrying and
• 52:21
  stressing about it. It just you're just fast
• 52:23
  tracking yourself to a better life in the future.
• 52:25
  Yeah, 100%. I mean, Conrad, we were talking
• 52:28
  about this before the show that, you know, the most successful
• 52:33
  people that we've met in Bitcoin.
• 52:36
  I mean, I don't know that many Bitcoin traders, but from my
• 52:38
  vantage point, most of them just bought Bitcoin, stored Bitcoin
• 52:42
  and just continued this process over time.
• 52:44
  And this. And the way I know that this
• 52:46
  works is 'cause I did it for me and it literally changed my
• 52:49
  life. And it didn't happen overnight.
• 52:51
  It was over, you know, a couple of year time span.
• 52:54
  But like, it's so simple. Everyone likes to overcomplicate
• 52:58
  it. It's not sexy.
• 52:59
  It's not like I'm a day trader, bro.
• 53:01
  I made this much money in an hour.
• 53:03
  It's like, look, just do what you have.
• 53:05
  Use the sources you have right now and make sure you're just
• 53:08
  accumulating more Bitcoin and, and this is how you really,
• 53:12
  really succeed in Bitcoin. Again, it's just so simple that
• 53:16
  it's like too complicated for most people.
• 53:18
  And it, it's just crazy that people don't do this.
• 53:21
  They buy it once and they're like, oh, it's going to
• 53:22
  $1,000,000. I'm I'm going to be a whatever,
• 53:25
  a gazillionaire. You're like, dude, just keep
• 53:27
  buying it. Just constantly buy Bitcoin.
• 53:29
  It's not that difficult. And, and Saylor made this really
• 53:32
  great analogy equating Bitcoin with early Manhattan in real
• 53:36
  estate in terms of the investment opportunity and the
• 53:38
  scarcity of that investment opportunity.
• 53:40
  And I think it's a great analogy.
• 53:42
  And we, it's one of the reasons because we have this incredible
• 53:44
  hindsight. We all know today Manhattan is
• 53:47
  like the epoch of finance. It's incredibly value dense, but
• 53:51
  that wasn't obviously always the case, but like New York and that
• 53:54
  hadn't became what it is today. And the argument is that Bitcoin
• 53:57
  will do that. So if Bitcoin will do that, as
• 54:00
  most of us understand, like, are you going to be like, we should
• 54:03
  follow the success of what those Manhattan real estate investors
• 54:06
  did? And they weren't day trading
• 54:08
  real estate properties, like they weren't day trading
• 54:10
  buildings. They were buying and
• 54:11
  accumulating and holding those buildings.
• 54:13
  And if anything, they would maybe, you know, like mortgage
• 54:16
  out those buildings and get like maybe debt for those.
• 54:18
  So you could have some short term spendable capital and keep
• 54:20
  your capital locked in, which also avoids you having a tax
• 54:23
  sale. So that's the way that you want
• 54:25
  to do it. Like what makes Bitcoin special
• 54:28
  is that because it's so divisible, you can have you can
• 54:31
  strategize is your, your Bitcoin investment strategy.
• 54:33
  The same way that a really rich person will like the way that it
• 54:36
  all $100 million portfolio will look at their strategies.
• 54:39
  You can implement that same strategy because Bitcoin is
• 54:41
  perfectly scalable all the way down for you and you can keep
• 54:44
  holding that on in the future. And once again, I love talking
• 54:47
  about it because it's so unique. It's free to hold Bitcoin, your
• 54:50
  Bitcoin, your, your investment assets, your ETFs, they all have
• 54:53
  a fee when you're, when you're custodian them on top of the
• 54:56
  risk of just holding them in a different custodian.
• 54:59
  So you can just get so much more value if you just hold and DCA
• 55:02
  your Bitcoin yourself. Yeah, totally.
• 55:05
  OK, let me let me pivot a bit. I did say I was going to give
• 55:08
  away sats and I just noticed we do have some unclaimed sats
• 55:11
  here. So I'm going to start with
• 55:12
  unclaimed sats in the wishing well and then we'll talk about
• 55:16
  the wishing well. I'll I'll pull some up.
• 55:17
  So again, first come, first serve, 1083 sats here.
• 55:23
  I'll leave this up for a moment. Apparently we do the wishing
• 55:26
  well and you and no one claims it.
• 55:27
  So here's the unclaimed sats first and foremost.
• 55:30
  I'll keep it here for a second. And on this note, while while
• 55:34
  we're waiting here, Conrad, let's talk about you were
• 55:37
  wanting to talk about the Bitcoin.
• 55:39
  Well referrals here and and this will go into the next wishing
• 55:44
  well. Coin toss it, it's perfectly
• 55:46
  aligned so floor is yours. Hopefully people claim this and
• 55:50
  I will spin up another toss into the well.
• 55:53
  Yeah, so thanks Opti Bitcoin. Well, like we are a really
• 55:56
  unique firm because we are non custodial by default.
• 56:00
  There is no custodial option. So that means if you're going to
• 56:04
  refer your friend, they have to have a Bitcoin wallet.
• 56:06
  And if they don't have one, you might you we're we're going to
• 56:08
  need, you know, we we need our Bitcoiners to step up and help
• 56:11
  other folks learn self custody. And because of that, there's a
• 56:14
  kind of ongoing relationship. I had a great friend shadow to
• 56:17
  Corey from Ottawa, great Bitcoin or he kind of converted me from
• 56:21
  trying to orange pill folks to like plant orange seeds.
• 56:24
  And then you nurture those orange seeds over time.
• 56:27
  And that means that, you know, folks have an ongoing
• 56:29
  relationship with, with the folks that they're referring.
• 56:32
  And that is the way that our referral program is structured.
• 56:35
  It's not as simple you get, you get $10, they get $10 and like
• 56:38
  so long you don't really care about what happens to that
• 56:40
  Bitcoin or your journey with them is over.
• 56:42
  Everyone's Bitcoin journey is is essentially infinite.
• 56:45
  So, you know, when you refer somebody, you get an unlimited
• 56:49
  referral system. And how that works is every time
• 56:52
  someone you refer transacts, you get kicked back.
• 56:54
  And we're non custodial. So we don't like hold that in an
• 56:57
  account balance. We send that directly to your
• 56:59
  lightning wallet every single time.
• 57:01
  So you know, I, I have referred a bunch of folks.
• 57:03
  They're, they're on the DCA train, thank God.
• 57:06
  And every Friday I wake up to SAS coming into my lightning
• 57:09
  wall. And I know not only am I getting
• 57:10
  a few more SAS, but I know that Bitcoiners are getting more
• 57:13
  Bitcoin. They're leveling themselves up.
• 57:15
  They're getting more and more prepared to the future and this
• 57:18
  unlimited referral program, you know, everyone who's listening
• 57:22
  is going to be able to get 10% of the fee generated off of any
• 57:26
  transaction for folks to refer. And this counts for whales.
• 57:29
  So if you know, if you have an uncle that has a bunch of
• 57:32
  investment properties and they're not doing too great
• 57:34
  right now and he doesn't like the headache of maintaining them
• 57:37
  and doing all that work, he can just sell that, buy Bitcoin, not
• 57:40
  have to worry about it, that Bitcoin to crush it in the
• 57:42
  future. He has no work and no costs in
• 57:45
  the short term. And every time that that whale
• 57:48
  stacks, you're getting a massive kickback.
• 57:51
  So that's probably, in my opinion, like the best way to
• 57:54
  refer folks is to refer folks and get a constant kickback.
• 57:58
  And that's, that's unlimited. There's no time expiry.
• 58:02
  So if you're referring Wales today and that whale keeps
• 58:04
  purchasing for years, you're going to be earning for years.
• 58:07
  It just, it just we want to mutual, mutually align our
• 58:11
  incentives so that we're all on the team to just spread Bitcoin
• 58:15
  into as many walls as possible. All right, you heard it here
• 58:18
  first guys, get your rich uncle to buy Bitcoin on Bitcoin.
• 58:24
  Well, through your referral link and every time he stacks that so
• 58:28
  you get some stats too. It's genius.
• 58:30
  It's genius. OK, I'm going to keep the
• 58:32
  wishing well up for a little while.
• 58:33
  Conrad. I I don't even know how many
• 58:35
  I've done. I've done like 3 or 4.
• 58:36
  So we're we're giving stats today.
• 58:38
  All right, it's the start of a new year.
• 58:40
  We're giving back. But you were telling me and Adam
• 58:44
  actually did show me this like a long time ago, I think when you
• 58:47
  guys were kind of, you know, first rolling it.
• 58:50
  But the lightning swap feature, which I know isn't working right
• 58:55
  now for the US for, you know, I would say legal reasons.
• 58:59
  But let let's tell the people and then also give us an ETA.
• 59:02
  Will we see again, Conrad? I always say this to Adam.
• 59:05
  Will we see the lightning swap feature come back to the only
• 59:08
  country that matters AKA the US? So to answer your question about
• 59:14
  yes, it is coming back. It is coming back soon.
• 59:17
  I'm, I'm a smooth brain. I'm not a technical guy, so I'm
• 59:19
  not building this product out right now.
• 59:21
  So I cannot give you a date, but it will be coming.
• 59:24
  And I love that you mentioned the product because it, the
• 59:27
  swapper is my favorite product. So when I'm trying to help folks
• 59:30
  get on the team self custody, one of the things I hear most
• 59:33
  from, you know, experienced bitcoiners is they're they're
• 59:35
  talking about the UTXO problem, which for those who don't know
• 59:38
  is basically every time you send a transaction that counts the
• 59:41
  UTXO, the more of these batches of transaction you have, you
• 59:44
  know, kind of like having $105.00 bills versus one $500.00
• 59:47
  bill. You know, it's going to cost you
• 59:48
  more money to move $105.00 bills around.
• 59:50
  Just do do the way that Bitcoin works.
• 59:52
  So you want to have fewer, larger bills, so to say of
• 59:55
  Bitcoin. And that's where custodial
• 59:57
  exchanges have offered help for bitcoiners that value self
• 1:00:00
  custody but want to manage their Utxos with a lightning and swap
• 1:00:04
  tool allows you to do, and this is how I buy Bitcoin is I buy
• 1:00:07
  Bitcoin directly onto the light network.
• 1:00:09
  I use wall Satoshi. Show it to wall Satoshi.
• 1:00:11
  And what that allows me to do is receive stats on my wallet every
• 1:00:14
  single time I'm I'm buying, it could be a dollar or $100.
• 1:00:17
  Any amounts I can buy, which might, I might not have been
• 1:00:20
  able to do if I'm doing on chain.
• 1:00:21
  Like no one's going to be buying $5 worth of Bitcoin every day on
• 1:00:24
  chain, but you can do that through Bitcoin.
• 1:00:26
  Well, and it goes to the Lightning network, which allows
• 1:00:28
  you to avoid the UTXO issue. Now we have all these stats on
• 1:00:32
  the Lightning on your Lightning wall.
• 1:00:33
  How do you get them on your cold storage device?
• 1:00:36
  What you do is you would send a Lightning outbound transaction
• 1:00:39
  to your Bitcoin wall account through the swapper and there
• 1:00:42
  you'll also place your receiving address for your cold storage.
• 1:00:46
  We don't charge a single SAT on this on this fee on this
• 1:00:49
  service. So if you send, you know,
• 1:00:51
  500,000 sats from your lightning wallet to be received on your
• 1:00:54
  cold storage device, you're going to get 500,000 sats on a
• 1:00:57
  cold storage device. We cover the swap fee.
• 1:00:59
  We cover the minor fee because we want to help you consult your
• 1:01:02
  UTX OS and use self custody. And this goes other way.
• 1:01:05
  You can swap out from cold storage onto Lightning Network
• 1:01:08
  if you want to, you know, use a bunch of sats and you know,
• 1:01:11
  engage in a Bitcoin, a circular economy or just spread out some
• 1:01:14
  Bitcoin. So it goes both ways and it's
• 1:01:16
  free. So it's absolutely my favorite
• 1:01:19
  way to buy Bitcoin. It will be available soon in the
• 1:01:21
  United States and actually Speaking of which, I saw someone
• 1:01:24
  in chat asking about recurring buy in the United States.
• 1:01:27
  So we actually do have this product up.
• 1:01:30
  You have to do a little bit of a workaround because for folks
• 1:01:33
  that are using our American product, we actually had a bit
• 1:01:36
  of a migration happening recently, which basically we
• 1:01:39
  brought the car into the shop and we're fixing everything up
• 1:01:41
  under the hood and making the engine way better, which allows
• 1:01:43
  you to buy more Bitcoin, buy more Bitcoin every month and
• 1:01:46
  have more reliable transactions. And the way that in the states
• 1:01:49
  you can still buy Bitcoin through recurring buy is you go
• 1:01:52
  and you add dollars to to your account balance.
• 1:01:56
  And then once those have been received, you go through the
• 1:01:58
  regular buy Bitcoin order form and then you'll have an option
• 1:02:01
  to select your frequency. Upon selecting that you you
• 1:02:04
  choose daily, weekly, bi weekly, monthly, whatever you want and
• 1:02:07
  your destination address. Right now that'll only be on
• 1:02:10
  chain because Lightning has temporarily been disabled.
• 1:02:13
  As you know, the cars in the shop, we're getting it back out
• 1:02:15
  on the road, but once it is, Lightning will be back up, swaps
• 1:02:18
  will be back up, and your purchase limits will be even
• 1:02:20
  higher. If you want to make really big
• 1:02:22
  purchases now, our OTC desk is still open so you know anything
• 1:02:25
  above 50K we can get that service for you right away.
• 1:02:29
  Love it, dude, love it. OK, I'm going to do one more,
• 1:02:33
  one more guys, one more wishing well toss.
• 1:02:36
  And while I'm doing that, Conrad, and I know you probably
• 1:02:40
  don't have Adam's, you know, go ahead here.
• 1:02:43
  But if possible, could we get some of the leaks or maybe some
• 1:02:48
  things you're working on for 2026 to make the user experience
• 1:02:51
  better? Is there anything you can tell
• 1:02:53
  to the audience right now about what you guys are doing in 2026?
• 1:02:58
  Okay, So what I can for sure tell you right off about out
• 1:03:01
  getting in any trouble is that the goal of Bitcoin well is to
• 1:03:04
  replace your bank with Bitcoin. We we understand that, you know,
• 1:03:08
  your banking app makes easy for you to do a lot of things like
• 1:03:12
  paying bills, spending, sending money to sending Fiat to friends
• 1:03:15
  and all these things. We want Bitcoin, well, to be
• 1:03:18
  able to facilitate all those same kind of functionalities,
• 1:03:21
  but just you have your Bitcoin in self custody and in Canada,
• 1:03:25
  you know, we kind of have the recipe for this pretty baked in
• 1:03:28
  really good, right? Yeah, the Canada features are
• 1:03:30
  crazy. It works so well in Canada.
• 1:03:33
  I literally troll Adam. I'm like, bro, like, yeah,
• 1:03:36
  sounds cool, Canada, but like, I want that here in the States.
• 1:03:39
  It's amazing. Part of that is to do with
• 1:03:41
  intrac E transfer. This is basically like if you
• 1:03:44
  had an institution that ran Venmo and it wasn't like a
• 1:03:46
  social media app at all. It was just purely for sending
• 1:03:49
  money around. That works super great in Canada
• 1:03:51
  and that allows us to like I can create an A private Bitcoin
• 1:03:56
  account, which means I'm not, you know, having to do any KYC
• 1:03:59
  and I can sell Bitcoin through that account and then send an E
• 1:04:02
  transfer to a third party recipient.
• 1:04:04
  And like there's there's so many different ways like that, Like I
• 1:04:06
  can pay bills with Bitcoin on chain or lightning, which
• 1:04:09
  basically means now every merchant in the world accepts
• 1:04:12
  Bitcoin because everyone accepts visa and MasterCard.
• 1:04:14
  So if they're not accepting SAT to the desk, then I can just buy
• 1:04:17
  that with my credit card and pay like card off with my Bitcoin.
• 1:04:21
  These are features that are baked in Canada and we'd love to
• 1:04:23
  bring them out into the States, you know, and basically just
• 1:04:27
  continuing to level up that offering, making your Bitcoin
• 1:04:30
  more spendable, more usable, while still retaining the self
• 1:04:34
  custody. Yeah, that's that's, that's the,
• 1:04:37
  that's the main hope here. You know, it is interesting.
• 1:04:41
  And and I've told Adam this, that we've said this all the
• 1:04:44
  time about Bitcoin well, that it's not easy building the
• 1:04:48
  platform that Bitcoin well built because there is some friction
• 1:04:52
  point for new people. But that next step, just that
• 1:04:55
  one step of adding your Bitcoin wallet, it like it will save you
• 1:04:59
  a lot of headaches down the line.
• 1:05:01
  If Bitcoin's history has shown us anything.
• 1:05:04
  Is that like the importance of the only North American exchange
• 1:05:08
  that sends Bitcoin directly to you?
• 1:05:11
  It can really save you a lot of headaches down the line.
• 1:05:13
  And, and I love the, you know, the lightning swap features, the
• 1:05:16
  fact you guys implemented lightning that last year.
• 1:05:19
  And I'm, I always tell Adam, I'm like, I'm really excited for
• 1:05:22
  what you guys are doing in Canada, but I really just like,
• 1:05:26
  I want it down here, man. If, if the, if the audience
• 1:05:30
  could see how Bitcoin well, works in Canada, or rather the
• 1:05:33
  American audience here can see how it works in Canada.
• 1:05:36
  It's absolutely seamless. And I'm like, dude, I want that
• 1:05:39
  here cuz that would blow, I think most exchanges out of the
• 1:05:43
  water. But obviously there's a lot of,
• 1:05:46
  you know, banking technical factors that we just don't have
• 1:05:48
  to make it work. But I know you guys are working
• 1:05:51
  on it. I know you're trying to make it
• 1:05:52
  as seamless as possible. So I'm excited for 2026.
• 1:05:56
  Now, Conrad, one last final message.
• 1:05:59
  The last thing you want to tell the people.
• 1:06:01
  It could be a 2 minute elevator pitch, it could be about
• 1:06:04
  Bitcoin, DCA, whatever, Whatever you want to say.
• 1:06:07
  What is the final message you want to give to the audience?
• 1:06:10
  OK, there is no amount of Sats, there's no threshold where it's
• 1:06:14
  like if I'm above this amount then I should self custody.
• 1:06:17
  You should always self custody When it like I, I've heard
• 1:06:20
  stories where you know, if you, if folks remember the Quadriga
• 1:06:23
  CX exchange in Canada, I had folks that had a couple $1000 on
• 1:06:26
  there. But you know a lot of you
• 1:06:28
  listeners couple $1000 might not be too, too much.
• 1:06:31
  Not that it's insignificant, but it's not like the greatest
• 1:06:33
  amount of money. But that was half a Bitcoin and
• 1:06:36
  now you're like, oh, that's actually a lot of money.
• 1:06:38
  So that's the way that I think everyone needs to think about
• 1:06:40
  your Bitcoin like you want to think about your Bitcoin and
• 1:06:44
  value it like it's worth take $10 million.
• 1:06:46
  Because if it when that Bitcoin becomes worth $10 million, if
• 1:06:51
  you're not treating it like it's always been worth $10 million,
• 1:06:53
  you might not have it anymore. It may have been seized.
• 1:06:55
  It may have been on a wall that you had no no proper backups.
• 1:06:59
  Like you don't have a steel seed backup.
• 1:07:01
  Maybe you had a house fire across this time.
• 1:07:03
  I just the other day I was chatting with someone that
• 1:07:05
  unfortunately super unfortunately had a house fire,
• 1:07:08
  but on the fortunate side, their Bitcoin seed phrase was stamped
• 1:07:11
  on a seed plate and they were able to recover it all.
• 1:07:14
  Their Bitcoin is still in their possession.
• 1:07:16
  And that's the way that you need to protect your Bitcoin.
• 1:07:19
  Protect your Bitcoin for every scenario so you can guarantee
• 1:07:22
  you have in the future. This isn't like you don't want a
• 1:07:24
  90% chance that your Bitcoin's going to exist in the future.
• 1:07:26
  This is all of your hard work consolidated into a money.
• 1:07:29
  You want to protect it. You don't want to wait until X
• 1:07:33
  amount of threshold of SAT or X amount of threshold of dollars,
• 1:07:36
  because that day might come before you're ready.
• 1:07:39
  You want to be. You want to be ready so that
• 1:07:40
  when the value is, you want to claim that value.
• 1:07:43
  You're actually able to. Wait, wait, Conrad, just to be
• 1:07:46
  clear, did we just get a double partnership endorsement there?
• 1:07:50
  The stamp seed was in the house when it burnt down and he was
• 1:07:54
  able to recover the seed phrase. Yep.
• 1:07:56
  Wow. Because it can survive the what?
• 1:07:59
  The average the. Heat.
• 1:07:59
  Yeah, yeah, I know they do that. But we have a, you know,
• 1:08:04
  literally the worst case scenario.
• 1:08:06
  But we we have a live on this IRL version of this happening
• 1:08:11
  versus like a kind of a test experiment.
• 1:08:14
  So man, shouts out to that guy. That's crazy.
• 1:08:17
  And you can get seed plates through Bitcoin.
• 1:08:19
  Well, so one of the things I didn't touchdown on on the
• 1:08:21
  referral program is that in addition to earning sats off of
• 1:08:25
  every single transaction, you get points for every person you
• 1:08:28
  refer. For example, this wishing well
• 1:08:29
  that you opt that you were playing earlier that was
• 1:08:32
  redeeming 500 wishing well points and anyone those tosses
• 1:08:34
  can be up to 1,000,000 sats. But if you want to save and
• 1:08:37
  accumulate your points that you also earn for spending and and
• 1:08:40
  selling Bitcoin on the platform, you can redeem those four seed
• 1:08:44
  plate. We have the on the the point
• 1:08:46
  store, we're able to literally redeem your proof of work, your
• 1:08:48
  the proof of work and your spending and your referrals can
• 1:08:51
  be redeemed for a seed plate. It's about 12,000 points.
• 1:08:54
  And then you can ensure the like legacy that your bitcoins
• 1:08:58
  actually going to be there in the future because you have
• 1:09:00
  ultimately secured and I mean, steel is one of man's great
• 1:09:03
  inventions. It's incredibly durable.
• 1:09:04
  That's the place you should be storing your Bitcoin is in the
• 1:09:06
  seed phrase and your wallet just a usable mechanism.
• 1:09:09
  Ultimately, your seed plate is the blast line of defense that
• 1:09:12
  you need to make sure you have for your Bitcoin wallet.
• 1:09:15
  Yeah, and and to be clear though, it's titanium.
• 1:09:17
  It's not, it's not on steel. I think it, I don't know.
• 1:09:19
  I look, I don't know the melting points, but I, I guess
• 1:09:22
  titanium's probably better. I don't know whatever, but.
• 1:09:24
  He's in space, so it's gotta be good.
• 1:09:27
  Well, again, if space is real, right, you know, we're globe
• 1:09:30
  cards here. So what, you know, just you
• 1:09:33
  could give us the benefit of the doubt on that one.
• 1:09:36
  Anyways, Conrad, thank you so much for coming on the the
• 1:09:39
  audience loved you. We got to get you back on more
• 1:09:41
  often. But if people want to get in
• 1:09:43
  touch with you, where should they get in touch with you?
• 1:09:46
  On Twitter or just through Bitcoin?
• 1:09:48
  Well, what's the best way for people to contact you?
• 1:09:52
  Yeah, great, great question. So I'm on, I'm on the Bitcoin
• 1:09:55
  Wall Twitter account. We're just at Bitcoin.
• 1:09:56
  Well, if you want to follow me specifically on Twitter, I'm a
• 1:10:00
  bit of a ghost. I'm more of a lurker than a than
• 1:10:02
  a poster. I usually use the the Bitcoin
• 1:10:03
  Wall account, but I'm Bitcoin rad on Twitter.
• 1:10:06
  So that's BITKOINRAD. Yeah, you'll hear me.
• 1:10:10
  You'll see me share and post about things.
• 1:10:13
  You may have seen me be a bit of an econ nerd or nerd out about
• 1:10:16
  some things about Bitcoin that are kind of economic space.
• 1:10:18
  And I really like the mining aspect of Bitcoin.
• 1:10:20
  I think it's kind of like the skeleton of Bitcoin that we
• 1:10:23
  don't really see when we look at the surface, but it's actually
• 1:10:26
  what holds Bitcoin up. And that's why I love analyzing
• 1:10:29
  and looking and thinking about that space.
• 1:10:32
  But yeah, follow, follow us on Bitcoin.
• 1:10:33
  Well, if you haven't signed up for Bitcoin well yet, definitely
• 1:10:36
  sign up. You got the simply big BTC link.
• 1:10:39
  Use that when you sign up. You'll get some bonus points and
• 1:10:42
  then you'll be stocking Bitcoin to the the best method possible,
• 1:10:45
  which is to self custody. Let's go all right Conrad, thank
• 1:10:50
  you so much let me pull you behind the scenes as I wrap up
• 1:10:53
  the show hang out though for a second and thanks for coming on
• 1:10:57
  man. You absolutely killed it the the
• 1:10:58
  whole Bitcoin well team when they come on and it's always you
• 1:11:01
  guys usually have like more energy than me, which is saying
• 1:11:04
  a lot. So thank you so much Conrad, but
• 1:11:06
  hang out for a second as I wrap up today's show.
• 1:11:09
  All right guys, well, you already know the deal.
• 1:11:12
  We got one more show for the rest of this week.
• 1:11:15
  We will be back roughly 12:40-ish tomorrow.
• 1:11:20
  I don't know if you guys can tell I'm still dying over here
• 1:11:23
  dude. I can't hear out of my right ear
• 1:11:25
  right now. I'm still going through this
• 1:11:26
  cold, but I'm showing up tomorrow and like I promised
• 1:11:29
  you, we're going to get Luke Mikich on with me tomorrow.
• 1:11:33
  So you already know it's going to be some bull sauce Hopeium
• 1:11:36
  filled Friday show for you. On that note, make sure you guys
• 1:11:41
  touch some grass, make sure you get the sun on you, eat some
• 1:11:44
  good food, cod, your loved ones, all that good stuff.
• 1:11:47
  I will see you tomorrow. Peace out.
• 1:11:49
  Today's episode was brought to you by bitcoinwell.com, a
• 1:11:53
  Bitcoin only platform on a mission to enable financial
• 1:11:56
  independence.