Latest / Simply Bitcoin / Is BlackRock Suppressing Bitcoin's Price? | EP 1015

Transcript

Is BlackRock Suppressing Bitcoin's Price? | EP 1015 · Simply Bitcoin

0:02
It's all. Going to zero against Bitcoin.
0:06
It's going on forever. You're against Bitcoin, you're
0:16
against freedom yeah welcome to assembly Bitcoin live your
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number one source for the peaceful Bitcoin revolution card
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breaking news culture matic warfare will be your guide
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through the separation of money in state Ladies and gentlemen,
0:32
you're tuned into simply Bitcoin live, the most watched daily
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Bitcoin live show on YouTube rumble an X sit back relax,
0:40
enjoy the ride lots to cover today.
0:43
I think a lot of us are feeling it in our bones.
0:45
We're bored we're bored. The price is at 64,893 a week
0:50
ago was at 70,000. We're like crabbing.
0:53
It seems like it's going to be like a slow summer.
0:55
But I just you guys got to remember back in the day, I
0:59
think it was the cycle of 2021. We pumped up from we bottomed
1:05
out at 3500. We went all the way up to
1:08
15,000. It was like this like fake pump.
1:11
We went back down to like 6000 and then we had this epic move
1:15
all the way down, all the way up to 60 K.
1:18
So it seems like we're having that same kind of mid cycle
1:21
consolidation. But I think the question a lot
1:24
of people's minds is, does this have to do with the ETFs?
1:28
Are the ETFs suppressing the price?
1:30
Is Larry Fink suppressing the price?
1:33
What is going on? You're hearing about all these
1:36
ETF inflows, these record inflows, but the price isn't
1:40
going anywhere. Who is selling Bitcoin?
1:42
Well, we have all of that for you guys today.
1:45
I think it's a combination of some institutions playing some
1:48
shenanigans, it's some O GS that have been in the market for a
1:51
long time, class of 2013. And for them $64,000 Bitcoin is
1:57
insane. These are people that bought
1:58
Bitcoin at like 150 dollars, 200 dollars, $300, right?
2:02
So we're going to talk about all that.
2:03
But the good news is this guys, the more Bitcoin consolidated at
2:08
these prices, the bigger the boom.
2:11
And I think we're all expecting the boom happening in 2025 and I
2:15
think it's going to be absolutely glorious, in my
2:18
opinion. So just stay humble, stack
2:20
SAT's, enjoy the summer, go outside, touch some grass, take
2:24
advantage of these prices going sideways like it would.
2:28
You know, when the price of Bitcoin goes up, it's kind of
2:32
bittersweet. Like it's it's it's like, yeah,
2:35
sweet. You know, my net worth is going
2:37
up. It's wonderful, great.
2:39
But at the same time, you lose the ability to buy Bitcoin at
2:42
cheaper prices. Me and Opti, remember when you
2:44
could buy a million Satoshi's for $100?
2:47
It was absolutely nuts. We were at those levels for, you
2:50
know, a couple of years. But those days are long gone.
2:54
So enjoy it and take it. Take every day, one day at a
2:57
time. Enjoy the present.
2:59
I'm almost feeling like Opti saying all this stuff anyway, so
3:02
we got all the sauce for you guys.
3:04
Also, in other news as well, the orange man continues to use
3:09
Bitcoin on the campaign trail. This is.
3:11
These aren't libertarian conferences.
3:14
These are just like regular political conferences.
3:17
And he continues to drop Bitcoin by name.
3:20
Who would have thought? We have the newest video for you
3:22
guys as well. And also in Texas, I absolutely
3:26
love the great state of Texas. We have the Texas grid operator
3:32
ERCOT CEO Pablo Vegas explaining how Bitcoin is actually good for
3:38
the grid, how how Bitcoin becomes the the buyer of last
3:42
resort for electricity, further stabilizing the grid.
3:45
Because the grid doesn't have to guesstimate.
3:47
They don't have to real. I don't have to anticipate how
3:50
much electricity usage is going to happen on any given day
3:54
because they know that they have a buyer of last resort, which
3:57
are the Bitcoin miners. And the Bitcoin miners have the
3:59
ability to shut off whenever the power is needed, right?
4:04
So again, breaking the Overton window.
4:06
The Overton window is shattering.
4:08
It's continuing to shift. I'm going to stick by my
4:11
original call out, which is by 2028.
4:14
I think it's going to be absolutely impossible to have an
4:18
anti Bitcoin stance as a politician because of the
4:23
percentage of the population that are actively holding
4:25
Bitcoin. So it's going to be a great show
4:27
for you guys. We have so much lined up.
4:29
I want to bring up my legendary Co host.
4:31
It's a Nico the episode today. I'm excited.
4:33
We haven't had one of these in a while.
4:35
How you doing bro? I'm doing good, dude.
4:38
You, I don't know if you saw me in the back end, but you have me
4:41
cracking up, bro. Go outside, touch some grass.
4:44
It's the summertime. Yeah, man, it's I I think that's
4:48
been the best advice for a while.
4:49
Guys log off Twitter, you know No one's saying anything
4:52
productive on Twitter really price is doing what it's going
4:55
to do make sure you are trying to get your cash flow up and so
4:59
you can stack as many sets as possible but man feels good you
5:03
know I'm I'm a little I'm still a little sore you know I I can't
5:05
wait to get back into the gym shouts out the Sal.
5:08
But other than that, man life. Sal is the man.
5:11
Shout out. Sal, bro, Sal is.
5:13
We're gonna, we're gonna bring him on the show.
5:16
We should bring him back on. We should bring him back on.
5:18
Anyways, dude, what do you have lined up for the culture about?
5:21
All right guys, so it is a Nico and Opti show and I saw this
5:26
chart yesterday coming out of I forget what the Twitter account
5:30
was, but it's coming out of the Fred Saint Louis Federal
5:34
Reserve. And it really highlights what we
5:38
say here on this show every single day about Fiat being a
5:43
worldview of nihilism, pessimism of war and how Bitcoin is the
5:47
complete opposite. A world where your life gets
5:49
cheaper, everything gets better. So I am going to go a little
5:52
chart boy on you guys, but in the different manner than you're
5:55
used to. It's not going to be TA trading
5:57
Bitcoin prices. I think this chart is very
6:00
revealing of the current state of the world.
6:03
And of course, I'm gonna bring up my my favorite site, the US
6:05
debt Clock, to make my point even stronger.
6:08
But man, I don't know. I saw this chart yesterday and
6:11
it absolutely blew my mind. Maybe, maybe I'm just so far in
6:14
the weeds and I'm like, wow, this is crazy.
6:16
But yeah, man, I think this one chart coming out of the Federal
6:20
Reserve, it is really going to prove our point that Fiat is, is
6:25
a world view of, of war. And the Fiat currencies continue
6:29
to perpetuate war. And there's no way we're ever
6:32
going to be able to pay off this debt.
6:33
So I'm excited for this. I don't think Nico's seen it
6:37
yet, but this is this is going to be a good one.
6:39
I'm sure Nico's going to get triggered.
6:41
We might get a little Nico Jones on today's show.
6:43
Yeah, man. Well, I'm excited.
6:44
Guys. Buckle up.
6:45
It's going to be an incredible show.
6:47
Lots to talk about, lots to unpack, but jump into it.
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All right everybody, so let's get to today's price 65,000 flat
10:15
stats per dollar 1538 block height 848,641 blocks to having
10:22
200 and 1359 having estimate March 25th 2028 Total Lightning
10:27
network capacity 4841 BTC capacity value 314 million U.S.
10:34
dollars Realized monetary inflation 1.58%, market
10:38
capitalization 1.28 trillion and Bitcoin verse gold market cap
10:44
8.01%. In the grand scheme of things,
10:47
the party is just getting started.
10:49
Anyways, I wanted to get to this.
10:51
This is absolutely crazy shout out to Vivek.
10:54
By the way, Vivek was the one that got all of this started.
10:57
And then, of course, you know, the straw that broke the camel's
11:00
back was as soon as the Biden administration locked some of us
11:04
in a box, as soon as they charge the Bitcoin privacy developers,
11:08
they went after Rodger Ver. They're trying to make an
11:11
example of Bitcoiners basically saying, no, you can't use
11:14
Bitcoin to escape inflation. You can't use Bitcoin, you can't
11:19
use unconfiscatable wealth. What are you talking about?
11:22
A Swiss bank account in your wallet?
11:23
You're a danger to national security?
11:26
Well, no, lot of us don't feel that way.
11:28
And of course, multiple politicians saw that opportunity
11:32
and they capitalized on it. Of course I'm talking about RFK
11:35
Junior, talking about Ron DeSantis, I'm talking about
11:38
Vivek Ramaswamy, and of course I'm talking about the orange
11:41
man, I'm talking about Donald Trump.
11:43
Now what? What's different about Donald
11:44
Trump and the other guys and the rest of the guys, even though
11:47
they're awesome, I love RFKI, love Vivek, is that Donald Trump
11:50
actually has a chance of winning.
11:53
And he is the the Republican candidate for president And he
11:58
included it into his campaign basically saying, look, I'm
12:01
going to free Ross, which has become a figurehead for the
12:04
Bitcoin movement. I'm going to protect the right
12:06
to self custody. I'm going to be anti CBDC and I
12:09
want Bitcoin miners to mine in the United States.
12:11
I want Bitcoin to be created in the United States.
12:14
Now we know that Biden has changed tune.
12:17
We know that now he's basically, you know, trying to walk it back
12:20
and saying actually, I'm accepting donations and quote UN
12:23
quote crypto. Actually, you know, we we want
12:25
to meet with the Bitcoin industry leaders.
12:28
But you know what talk is cheap, action is loud.
12:31
Biden right now, he's the one in office.
12:33
He has the power to free Ross today.
12:35
Is he going to do it? I don't know.
12:37
We shall see. Anyways, let's hear what the
12:39
orange man has to say. One of his latest campaign
12:42
rallies. Let's check it out.
12:44
To further secure America. 'S future and create opportunity
12:47
for young people. I will end Joe Biden's war on
12:50
crypto. We will ensure that the future
12:53
of crypto and the future of Bitcoin will be made in America.
12:56
Otherwise other countries are going to have it.
12:59
So I mean very interesting also he said crypto, but he also said
13:03
Bitcoin, right? A little differentiator there,
13:05
which I find fascinating and of course he knows that this is
13:08
popular with his voters. He know that he's pandering to
13:12
voters because that's what politicians do but it's it's a
13:14
testament to the power of the Bitcoin movement.
13:17
I can't emphasize that enough. If Bitcoin wasn't powerful
13:20
enough, if the demographic, the voter demographic wasn't big
13:23
enough, politicians wouldn't even bring it up.
13:25
They're bringing it up because they feel like it will give them
13:28
vote, get them votes to get elected.
13:29
Now, I know what a lot of people are saying, like Nico, Donald
13:33
Trump could just rug pull, absolutely.
13:35
But the Overton window has shifted and you can't bring that
13:39
back. You can't put that back into
13:41
Pandora's, Pandora's box like that's been open.
13:44
The genie is out of the bottle. And I think it's just a matter
13:47
of time before people or a politician running for president
13:51
starts to ask a very important question.
13:54
Why is inflation a thing? Why should people use money
13:57
that, you know, decree the the bases?
13:59
Why should people use money that loses purchasing power?
14:02
Why am I being forced to do this via legal tender laws?
14:05
The moment that's said, it's like the other person, the other
14:10
candidate is not going to have a good response because there is
14:13
no good response. What they're hoping for is that
14:16
you remain uninformed. Right?
14:18
And This is why we call this narrative trench warfare.
14:21
And this is a war for the hearts and minds of individuals.
14:24
So don't get distracted by the left, right, liberal,
14:27
conservative bullshit because it's divide and conquer.
14:30
Anyways, in other news, this isn't, this is insane.
14:33
This is crazy. So this is a testimony in front
14:36
of, I think this is like the something Texas, like a
14:41
committee in Texas, a Texas Senate committee and we had the
14:44
the ERCOT CEO Pablo Vegas, and he's explaining some things in
14:50
regards to Bitcoin mining. This is amazing guys.
14:52
We've made so much effing progress.
14:54
Let's check this out. What, what would be more helpful
14:57
for ERCOT is to have more visibility to what these large
15:00
loads are doing. And so a good place to start
15:02
could be making sure we can track and even potentially
15:05
control the loads of cryptos. Because cryptos are unique
15:08
business. Their use of energy is tied
15:11
directly to the cost of electricity and the cost of
15:13
Bitcoin. And so when either of those
15:16
fluctuate, they either turn on or turn off based on whether
15:19
they will make money mining. And so it would be very easy for
15:23
them to be controlled by ERCOT because we could take their
15:25
parameters, they could tell us when they want to run, at what
15:28
energy costs, and we could then ramp them up and down based on
15:31
the price and scarcity of electricity that's available.
15:34
That would be a much safer way to work closely with crypto
15:37
mining from a grid operator point of view.
15:40
So I mean, it's and, and he says it right.
15:43
And, and again, like this, this shifts the Overton window like
15:47
you, you, you can't, you, you can't like the New York Times
15:51
article where they doctored the image to make it seem like the,
15:56
you know, the same image that they doctored with Joe Rogan
15:59
when he took that medicine that was not approved by the powers
16:02
that be. And then they doctored the image
16:04
to make it seem like his face was green and all that shit.
16:07
No, when you have these types of conversations in front of
16:10
congressional testimony, you're moving that fucking Overton
16:14
window. You're moving it.
16:15
Take a drink, guys. I said it.
16:17
And, and you can't, you can no longer convince the public
16:21
because you have to understand that this misinformation, these
16:26
narratives, this propaganda. All right, because we got to be
16:29
honest here. Legacy media is worse than the
16:34
official state newspaper of the USSR called Pravda.
16:38
OK. And the reason that it's worse
16:39
is because everyone knew that the official newspaper of the
16:42
USSR was absolute bullshit. The problem with legacy media is
16:47
that they basically promote themselves.
16:51
They come out as if democracy dies in darkness.
16:55
You have to take us seriously because we are the official news
16:57
source and all the other news sources are bullshit.
17:00
Do you guys remember that video of all those news channels,
17:04
right? And it's like, this is a danger
17:07
to democracy. And they're all repeating the
17:09
same fucking line. All of them, right?
17:12
That era is slowly dying. And the reason that it's dying
17:15
is because the Internet has empowered individuals all over
17:18
the world mass scale, peer-to-peer communication.
17:21
We don't get our news sources from a handful of legacy media
17:26
outlets. And what the last four to five
17:29
years has shown, I call it the great awakening, the great
17:31
disintermediation of information is that those legacy media
17:35
outlets are just propagandists. They're utter.
17:37
They're just bullshitting you. Like that's what like I would
17:41
rather trust the guy who is talking about smoking DMT and
17:46
killing elk with the crossbow. And I would rather trust that
17:50
guy or the guy that gets fired from Fox News because he told
17:53
too much truth. Then the people in the suit
17:56
trying to tell me that they know what's best for me.
17:59
Or I, I love the the, the Chinese, the, the Chinese state
18:04
media one where the guy was like, yeah, if Bitcoin takes
18:07
over, we're all gonna die. Like it's so blatantly obvious.
18:12
It's time to wake up. It's time for you to do your own
18:14
research. So the reason I'm playing you
18:16
these clips is you have potentially the president of the
18:19
United States saying, let's bring Bitcoin businesses here.
18:22
Bitcoin is good for young people.
18:24
And of course, you have testimony in front of the Texas
18:27
Senate committee basically saying, like, look like it's
18:31
actually good for the grid that Bitcoin miners come here.
18:34
This is actually positive. This is actually a good thing,
18:37
right? So Opti, what's your take on
18:39
this, brother? You've been in the hot seat with
18:40
me. You've been my right hand man
18:42
throughout this whole process. We've been fucking cold.
18:45
We've been piloting this plane through fucking hurricanes and
18:48
all this propaganda bullshit. You know, we're seeing flies.
18:53
I'm sorry, we're seeing cows fly in the Tornadoes and stuff.
18:56
It's been absolutely bonkers, right?
18:58
Bonkers, right? And what I got to say also, Opti
19:01
is like, it can't be that too, you know, one Mexican, one
19:07
Venezuelan, no background in journalism whatsoever, just two
19:13
people that feel very passionately about Bitcoin and
19:16
that, you know, coincidentally love the truth as well.
19:19
It can't be that somehow we are more right about shit
19:23
consistently than the official narrative with the suits and the
19:27
guys in TV. It, it can't be it man.
19:30
And I, I, I, that's, that's what I gotta say.
19:32
That's what I say. I, I, I gotta walk away from
19:35
this man because we're already starting at hot.
19:38
What's your take? It's just on that last point,
19:40
like I said it all the time, once you reprogram your mind
19:45
around the Bitcoin fundamentals, it's a lot easier to predict
19:48
where the future is going. And then once you also realize
19:52
just how illegitimate and fake all of the legacy media and the
19:56
institutions really are, you start to really see through the
19:59
veil and you realize that basically all of the official
20:02
numbers coming out of the, you know, that trusted experts are.
20:06
Fake. And you realize that you're in a
20:09
position right now, and I've said this a long time and I
20:11
haven't said it on the show in a minute, that it's like watching
20:14
Saturday morning cartoons. You're watching, you know, Wiley
20:17
Coyote run off the Cliff and only bit Corners have looked
20:20
down at their feet and realized that we are completely detached
20:24
from reality and something needs to be fixed, like something it's
20:28
going to give. And you can't trust these
20:31
people. You can't trust anyone in
20:33
Washington, DC coming out of the legacy media to tell you the
20:36
truth. They're all mouthpieces for, you
20:38
know, the corporation, for the lobbying groups, for the real
20:41
people that control the world. And you're going to have to
20:44
protect yourself. And we think the best way to
20:46
protect yourself is obviously by saving your wealth in Bitcoin.
20:51
And OK, the tangent ended on that one.
20:53
So going to that Donald Trump clip, I really like the the
20:59
narrative that he's kind of shaping in that video.
21:02
One, of course, we've said this before, you know, further
21:05
America by adopting and embracing Bitcoin versus
21:09
fighting it, which we've been going through the last what 18
21:13
months or so. And then the part that probably
21:15
hit the hardest for all of us here in the chat, I'm guessing
21:18
most of us are either like millennial ish and maybe some
21:21
Gen. Xers, but some some zoomers as
21:24
well. Is that most of us millennials
21:28
and young people, and I'm sure if you're on social media,
21:31
you're you're seeing this trend happen as well that a lot of us
21:35
are being disenfranchised. We're all wondering like how to
21:38
survive right now with inflation rates, people are working more
21:41
jobs than ever and we're still broker than ever.
21:43
And so I really like how he said further the opportunity for
21:46
young people because I don't know if you've noticed, but
21:50
we're basically in a what how do you say geriocracy here where we
21:54
have the people ruling in power should basically be in
21:57
retirement homes. And now they're the ones that
21:59
are controlling not only where the future is going, but all of
22:03
the capital right now. And so you can see that there's
22:06
one side of the aisle is for the most part, pandering to the
22:11
older generations. And at least Trump is realizing,
22:14
or at least his his PR campaign is noticing that the young
22:19
generation are disenfranchised. And they have to try to get our
22:23
votes because we're the ones that are going to inherit
22:26
America. And if you keep ostracizing us,
22:30
then more people are going to become nihilistic and tune out.
22:33
And it really kind of goes back to a lot of things we say here
22:38
on the show. This is why we always say to
22:40
take the power back upon yourself and start saving in
22:44
Bitcoin. And I really like how he's also
22:46
making sure to always say Bitcoin, even though of course
22:49
he's saying crypto because there is people out there that
22:51
consider themselves, you know, crypto people versus just
22:54
Bitcoin only. And I, I think it's very
22:57
important that he is always saying, you know, even though he
23:00
does say crypto, he does say I'll protect crypto and of
23:03
course I'll protect Bitcoin as well.
23:04
Like saying the B word, I think is definitely going where Nico
23:08
always says blowing the Overton window.
23:10
And on that note, I do have to give another shout out to the B
23:13
mag team shouts out the Bitcoin magazine for meeting with Trump.
23:17
And of course, the Bitcoin miners out there.
23:20
They, they obviously have done a great job, I'm guessing and
23:24
stressing the point of the difference between Bitcoin in
23:26
crypto. And of course, it's Bitcoin, not
23:28
crypto, it's Bitcoin only. Bitcoin is the only thing that
23:31
really matters. Everything else is gambling.
23:33
They're they're all trash as far as I'm concerned.
23:36
Maybe at times we go into summer blatant scams, but it's Bitcoin
23:41
only and everything else is riding the coattails of Bitcoin.
23:44
And so I love that politicians are actually saying Bitcoin in
23:48
good light versus blaming all of the world's problems on Bitcoin.
23:51
And yes, of course, it's political pandering.
23:54
And if we get another rug pull with Trump, maybe people will
23:56
wake up to the fact that it's all fake and illegitimate.
23:59
But I don't think we're there yet.
24:01
I still kind of conversate with some normies here and there.
24:04
Even my family is pretty much normies and they all still for
24:08
some reason seem to believe that there is some legitimacy coming
24:12
out of the legacy media, out of the politicians.
24:16
And it really blows my mind. I, I had said this before, it
24:18
always reminds me of the Dave Chappelle being the president
24:22
meme. You know, Dave Chappelle in
24:23
politics. And I'm like, that's what I see
24:25
every time I see politicians. Anyways on the ERCOT bid.
24:28
Like I can't wait to see more states follow suit.
24:31
Implementing Bitcoin mining on the state level and improve
24:34
electricity grids and hopefully as well, you know, bring down
24:37
our electricity prices and stabilize the grid in general.
24:41
And then on that note, on the flip side, like I can't wait to
24:43
see more people. Freak out and fight.
24:45
Bitcoin mining because my boiling oceans and we're going
24:48
to use all of the world's electricity.
24:50
And someone in the chat said like, RIP grin P So man, it's
24:54
it's got it's gonna get very interesting when you realize the
24:59
the true, the pressure, yeah, the true, the true Fremont
25:04
capitalism that is Bitcoin and Bitcoin mining compared to, you
25:09
know, centralized control of all of the institutions.
25:11
So hey man, game on. Game on, Keep up the pressure,
25:15
keep making the memes, keep ridiculing them in the comments
25:19
on Twitter, keep embarrassing them.
25:22
They don't have a response to you.
25:23
Guys, the truth is on our side. They're running on lies and
25:28
misrepresentations. Our job is just to expose them
25:31
for what they are. They're liars and they're
25:34
thieves. That's what it is.
25:35
Anyways guys, before we move on to the next section, I do want
25:38
to give an extremely special shout out.
25:40
Guys, there's literally 5 tickets left.
25:42
You don't want to miss this, the pleb party in Nashville, TN.
25:47
It's July 25th, the day before the largest Bitcoin conference
25:51
on planet earth. Bitcoin 2024 in Nashville.
25:54
It's going to be a 12 hour open bar party For anyone who doesn't
25:57
know for whatever reason what an open bar is, that means that
26:00
liquor is included in the tickets. 12 hour open bar from
26:03
noon to midnight. Pleb Party in Nashville before
26:06
the day before the largest Bitcoin conference on planet
26:09
Earth, Thursday, July 25th. Confirmed attendees include
26:12
press and pitch the entire simply Bitcoin crew, James
26:15
Lavish, Robert Breedlove, Mark Moss, puppy, Adam O'Brien, many,
26:19
many more. It's going to be hosted at an
26:20
amazing rustic automobile factory from 1910 with brick
26:24
walls and tons of proof of work atmosphere.
26:27
The last Pleb Party in Miami was sold eight days before this.
26:30
Looks like it's going to be sold out way faster.
26:32
Over 1000 Bitcoiners are expected to attend.
26:35
Opti and I are going to be there, Sophie's going to be
26:38
there, Rustin's going to be there, John's going to be there.
26:40
It's going to be an absolute Patchanga.
26:41
You don't want to miss it. Scan the QR code, check the link
26:44
in the video description. Get your tickets to the Pleb
26:47
Party in Nashville 2024. All right, everybody, let's hit
26:50
the news. Here we go, the Daily News.
26:58
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custody of your Bitcoin because if you don't take self custody
27:58
of your Bitcoin, it's not really your Bitcoin.
28:00
Don't put yourself in that situation where you get
28:02
absolutely rugged, which is why you should have your Bitcoin in
28:07
cold storage and the way that you put it in cold storage, but
28:09
having yourself a hardware wallet.
28:11
Of course, we recommend passport by foundation devices.
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If you pair it up with the Envoy app, it's incredibly, incredibly
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easy, easy to use scan the QR code, check the link in the
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video description to get started.
28:23
Member guys, not your keys, not your cheese.
28:27
All right, let's talk about about another one of opt non ex
28:32
boyfriends and of course I'm talking about Larry Fink.
28:35
Opti was never able to close. You know he he peeked at
28:40
Christine Lagarde. Anyways, let's talk about Larry
28:43
Fink. Let's talk about Black Rock.
28:45
And I think a lot of people kind of like this narrative.
28:48
I've been seeing it on YouTube, I've been seeing it on Twitter
28:50
for this last couple of weeks. And it's just this I'll, I'll
28:53
simplify it for you guys. Supposedly there's this record
28:56
amount of inflows. We keep saying it record
28:58
inflows, record inflows, we see the institutions are here, you
29:02
hear El Salvador's mining Bitcoin, the Kingdom of Bhutan
29:05
mining Bitcoin, Paraguay mining Bitcoin, like all this insane
29:08
stuff. And remember, none of this was
29:11
true back in the previous all time high of 2021.
29:15
So literally. And it by the way, if you adjust
29:17
the, the, the all time high for inflation, like the Alta, we
29:21
haven't even broken the all time high.
29:23
If you adjusted for inflation, I believe it's like 80,000 if you
29:26
adjusted for inflation. So all of these bullish things
29:29
are happening, but we're not reaching all time high prices.
29:33
We're like, it's is there suppression going on?
29:35
Is what's going on? What's happening here?
29:37
So I did a lot of research this morning and tried to get to the
29:41
bottom of it. And there's three things that I
29:43
ran into. First, I want to play you a clip
29:46
from Natalie Burnell show coin stories.
29:48
Highly recommend incredible podcast.
29:50
Here's James Lavish making the case as how he's explaining that
29:54
hedge fund hedge funds are shorting Bitcoin and why this
29:58
could potentially eventually lead to a gamma squeeze.
30:00
So I'll play you guys the video and then we'll move on to the
30:03
next piece as to why the Bitcoin price is going sideways.
30:07
Let's check it out. The trade is, and I did of
30:09
arbitrage in my 1st 20 years on Wall Street.
30:12
So the trade is you go out and you short the futures.
30:15
You're going to get 10% on that short.
30:17
You're going to get paid in the perpetual future rate on that
30:19
10%. You turn around and take that
30:21
capital that you've taken in and you go buy underline, you go buy
30:24
the Bitcoin. Now you're hedged, right.
30:26
So you you don't have any exposure bit can go go up and
30:28
down doesn't matter. All you care about is that is,
30:31
is the is a premium to that, that the futures premium to
30:35
this, this underlying spot. And so you're trading around it,
30:38
but you're getting paid 10% on that.
30:40
Now, if you're because Bitcoin, the ETF, you can't really borrow
30:44
against it. You know, you can you can
30:46
probably do things with derivatives and I haven't seen
30:48
it yet, but you can probably borrow against it, buy some
30:50
more. But that's a that's just a a
30:52
debt instrument that's not creating paper Bitcoin, that's
30:54
creating paper dollars. But what, what what I've heard
30:58
some hedge funds are doing is they're over they're over
31:01
shorting the future, taking in more of that that perpetual
31:05
interest and then under buying the spot, right.
31:08
So it kind of keeps a lid on it. So then when Bitcoin ETFs, the
31:13
underlying has to go buy that during the day because they
31:15
can't buy spot during the day, they're buying futures during
31:17
the day. There's plenty of there's plenty
31:19
of supply. And I'm talking about the
31:20
managers of those ETFs. They go out and buy those ETF
31:23
that those they they have to buy the underlying.
31:24
They're going to buy futures, settle with, you know, Fidelity
31:28
or with, well, Fidelity is doing it themselves, but settle with
31:32
BlackRock and Bitwise and all they're going to settle in spot.
31:35
So there's going to be some cash and Bitcoin that goes.
31:37
That's one thing that's going on and that could suppress it a
31:39
little bit. If they lever that, that short
31:41
up and they're over short, will that the, the ones who are
31:46
shorting that those futures, they could get into a situation,
31:49
especially if they're using options or whatever, they could
31:52
get into a situation where they get into what's called the gamma
31:54
squeeze, where is the closer it gets.
31:55
It really drives that, that, that acceleration, that price to
31:59
like 7475 thousand really quickly and they have to cover
32:03
and they wind up covering right through and it explodes through
32:07
that price. Will that happen?
32:09
I don't know, but that was my whole point of, you know, that
32:11
the, the, the meme of the sun with Mercury underneath it.
32:15
The whole point is that if you just get enough buying pressure,
32:19
good luck. I mean, you're going to get your
32:20
face ripped off. Man, absolutely James.
32:24
I absolutely love James Lavish coming in with the signal and
32:28
let's break it down also because you'd say like Nico, you know,
32:31
maybe there's not enough interest.
32:33
I mean, if you take a look at the numbers in this article,
32:36
Bitcoin ETFs make 25% of black rocks, 2024 inflows and 56% of
32:44
fidelity is also something to keep in mind is the Bitcoin ETFs
32:47
are the most popular ETFs in all ETF history.
32:51
They're already in the top five of the most popular, the most,
32:55
the most used ETFs in the market right now.
32:58
Also this other article I ran into which I found quite quite
33:01
interesting. The publication is Crypto Slate.
33:03
The headline is Bitcoin price reflects basis trade dynamics,
33:07
not suppression. So it's basically making the
33:09
case that no, it's not suppression that's happening,
33:12
it's just the trade dynamic. So it goes on to say since June
33:15
10th, Bitcoin has experienced a notable decline, dropping from
33:18
approximately 72,000 to as low as 65,200.
33:22
This drop coincides with significant activity in Bitcoin
33:25
ETFs, which I've seen around $580 million in outflows.
33:29
This starkly contrast the previous record setting 19
33:33
consecutive trading days of inflows amounting to roughly $4
33:36
billion, which coincided with Bitcoins price from around
33:40
60,000 to 70,000. The recent outflows represent
33:43
approximately 4.3% of the total inflows, aligning with a roughly
33:48
10% correction bitcoins price. The discrepancy has led to
33:52
questions about why bitcoins price didn't rise despite the
33:54
substantial inflows. 1 plausible explanation is the basis trade,
33:59
a strategy employed by hedge funds and investors and this
34:02
strategy. Investors go along go along on
34:05
the underlying spot ETF products and short the futures market.
34:10
This is what James Lavish was referring to I believe, creating
34:13
a net neutral trade that protects them regardless of
34:15
whether the price goes up and up or down.
34:18
Investors focus on the spread between the spot price and the
34:21
futures price, as this differential determines the
34:24
profitability of the basis trade.
34:26
This approach is influenced by the current positive funding
34:29
rates, which are around 6%, according to Coin Glass.
34:33
Traders are willing to incur higher costs to leverage long
34:36
positions in Bitcoin, often using calendar futures on the
34:39
CME. These futures, trading at a
34:42
premium up to the spot price, can be rolled over through a
34:44
process known as rolling forward.
34:47
The CME defines this as exiting and expiring futures contracts
34:51
while simultaneously entering a new one with a later expiration
34:54
date. By shorting the futures market
34:56
while being long on the spot market, traders create a hedge
34:59
hedge that mitigates price movements, resulting in the
35:02
observed suppression of Bitcoins price.
35:05
The rolling forward strategy allows traders to maintain
35:08
exposure to Bitcoin without closing their positions at
35:12
contract expiration. Consequently, the Bitcoin price
35:15
is less sensitive to Bitcoin inflows despite significant
35:18
flows, offering a potential explanation for why it hasn't
35:22
reached new all time highs following the $4 billion influx.
35:25
So according to this article, also according to that clip by
35:29
James Lavish, it seems like, yeah, it seems like these
35:31
institutions might be playing some shenanigans.
35:34
And that's exactly the reason as to why we haven't broken all
35:38
time highs. But as James Lavish so correctly
35:41
pointed out towards the end, like a boss.
35:43
Enough buying pressure. Good luck.
35:46
I mean, you're going to get your face ripped off.
35:48
Right, I think they're playing with absolute fire now.
35:50
Here's another take from an OG. Of course I'm talking about
35:53
Willy Woo and he says, and he kind of addresses it in a
35:57
different light. He says ETFs are buying,
35:59
institutions are buying. Who the hell is selling?
36:02
2024 brought a mass, a mass of commentators looking at ETF
36:07
flows as if that's all that matters.
36:09
What matters is total demand and supply.
36:12
Here's a one O 1 thread on how the modern Bitcoin market works.
36:16
First, let me tell you who's selling.
36:18
This is what I mentioned in the very beginning of the show.
36:21
The O GS they are selling, they have more Bitcoin than all the
36:26
ETFs put together, 10 times more.
36:29
That's something to keep in mind.
36:30
Ladies and gentlemen, the vast majority of Bitcoin, around 11
36:34
to 12 million Bitcoin are held by not governments, not ETFs,
36:40
not institutions, not Michael Saylor.
36:42
It's held by individuals. And when he's referring to O GS,
36:46
he's talking about people that got into Bitcoin class of 2013,
36:50
class of 2012. And you know what?
36:53
They're buying Bitcoin for a dollar $100, nothing.
36:57
So for them to be selling at $64,000, what for us, we're
37:01
like, you never sell Bitcoin for them.
37:03
I mean, they're jaded. They've been in the game for a
37:06
decade. You know, they want to cash out.
37:07
Maybe they want to buy a house. You know, that could happen,
37:10
right? And Willie was making the case
37:13
that they are who's selling anyways the and they sell into
37:17
every bull market. This pattern is as old as the
37:20
genesis block chart below the age X amount of coins being
37:25
sold. So it looks like every time
37:27
there's a bull market run, the older coins get to be sold
37:31
anyways. We are now in the modern age of
37:33
Bitcoin. Paper BTC has flooded the market
37:36
since 2017. Futures markets.
37:38
If you want to buy Bitcoin, it used to be you had to buy real
37:43
Bitcoin. Now you can buy paper Bitcoin.
37:45
Thus a no coiner can sell you that paper.
37:48
Together you have made a synthetic BTC.
37:51
That would be demand for BTC gets diverted to paper.
37:55
BTC fulfilled by counter traders who have no BTC to sell.
37:59
They just have USD to back their bet.
38:01
In the old days BTC would go on an exponential run because the
38:05
only sellers was a trickle from the OGS and an even smaller
38:10
amount from miners with their newly mined coins.
38:13
Today the magic of paper BTC is what you want to watch.
38:17
The 2022 bear market was dictated by a flood of paper BTC
38:21
when spot holders didn't really sell.
38:23
In this current bull I have marked where paper increased.
38:27
These were the times when price didn't rally.
38:30
We are in one of the these times right now.
38:33
You look at you look at this Bitcoin inventory and exchanges,
38:39
here's the paper plus spot BTC, here's the spot BTC and it goes
38:43
anyways. It goes on to say, so not a
38:45
great idea to solely look at ETF buying on chain data,
38:49
derivatives data, technical price action.
38:52
All of these adds to the demand and supply picture.
38:55
Putting it together as an art, not a qualified science.
38:58
Everyone is just making educated guesses.
39:02
So he says that thing at the end and I think that's what that
39:06
that's ultimately what everyone is doing, which is what we
39:09
advocate for on simply Bitcoin, stay humble stack SAT's and you
39:13
know, time in the market beats timing the market.
39:16
OK, all of that being said, now I'm going to just pull out my,
39:21
my, my because I don't, I don't, I don't trade and I don't do any
39:25
of these things. But what I will say is just
39:28
based on what I've seen on the previous cycle.
39:32
So we had a very similar occurrence back in I forget what
39:38
the IT was like 28, it was 29. Anyways, we had a fake pump.
39:42
It went from 3500. It went up to you like 14,015
39:46
thousand and then it went back down after it went back down.
39:51
Then we had that massive pump from it was like 10K all the way
39:55
down to all the way up to like 69 K.
39:58
But we had that like mid cycle pump.
40:01
This looks very similar. We had a mid cycle pump.
40:03
A lot of people were talking about something called a left
40:05
translated cycle, so they were expecting the peak to come way
40:08
sooner. That turned out not to be true
40:11
and it seems like Bitcoin is following the pattern that it
40:14
always follows. What is that pattern?
40:17
3 green, one red. You have a green year.
40:22
You have a green year, you have the parabolic green year, and
40:26
then you have a red year, and then it repeats.
40:28
Ladies and gentlemen, it has not broken that pattern since the
40:32
beginning of time. It's not rocket science.
40:35
American Huddle literally has it at the top of his Twitter.
40:39
I think the more you read into it, the more complicated you
40:43
make it. You you make it seem.
40:45
I don't think you're complicated whatsoever.
40:47
I think it's as simple as this. 3 green bulls, 1 red bear.
40:54
That is literally it, and I think it's fitting, Opti, that
40:58
we end it with this just to cool everyone's, you know, it was
41:03
everyone's feelings and stuff. So let's check it out.
41:06
Some amazing technical analysis. We usually normally don't do it
41:11
on simply Bitcoin, but we're going to do it for you guys.
41:13
Let's check it out. So as you can see here on the
41:16
chart, for like 4 years Bitcoin was in like the hundreds of
41:19
dollar range and it just kind of hung out there.
41:22
Yeah, like maybe it bounced down, maybe it bounced up, but
41:25
it was basically in the hundreds of dollar range for like 4
41:28
fucking years. Then it went to the thousands of
41:30
dollar range and it just stayed there.
41:32
Yeah, it bounced above 10 briefly, but it went in the
41:35
thousands of dollars range. Then it went to the 10s of
41:37
thousands of dollars range, and it stayed there for three
41:41
fucking years. And now we're coming to the end
41:43
of it. What the fuck do you think is
41:44
gonna happen next? You think it's gonna go to the
41:46
$0.00 range? No, it's go to 100,000 fucking
41:48
dollars then. Fucking God.
41:49
A beautiful, beautiful technical analysis.
41:51
I see Opti has pulled up, so I'm gonna share that.
41:53
Opti, what do you have pulled up my friend?
41:55
Oh, I, I just wanted to iterate on that point, you know, 3
41:59
green, one red, we're at two years of green.
42:03
You know, we're going to get another year of green and then
42:06
we'll get a red year like it's, it's pretty simple.
42:08
Keep it simple guys, super simple.
42:09
It's. Literally keep it simple.
42:11
And then again, like what what the tendency that I've seen is
42:14
that people try to over complicate it.
42:17
And I think that Bitcoin is following the, the, literally
42:21
the, the, the, the pattern that it's always followed.
42:25
And these are the times where it's just kind of going sideways
42:29
and people are getting bored and people are getting kind of like
42:32
antsy and all that stuff. These are the times that it's
42:36
important that you zoom out. When in doubt, stay humble.
42:40
Stack SAT's, use these opportunities to grow, grow your
42:44
SAT base, right? While the price is going
42:46
sideways. Go outside, touch some grass,
42:49
enjoy the summer. You know, take a break, unplug,
42:53
still watch Simply Bitcoin. But, you know, take it easy.
42:56
Take it easy, man. All right, everybody, chill by
42:58
the pool. Yeah, chill by the pool.
43:00
It is summer. And think by the end of this
43:04
year and heading into next year, things are going to go
43:08
absolutely bananas. But until then, can I?
43:11
Can I chime in, chime in a little bit, Nico, I, I'm, I'm
43:15
again, I, I jokingly say it. I'm obviously not an ADIQ
43:19
person, but I'm an ADIQ bitcoiner.
43:21
I keep it as simple as possible. And as far as I can tell, the
43:24
cycle theory is still playing out.
43:26
So I think this is very normal. Of course, we're all getting
43:28
impatient. We all kind of feel the price
43:30
bubbling and we're like it's going to pop someday.
43:33
But as I think all of us corners have been around for a while,
43:37
you really understand that when you start to feel this boredom
43:41
right now, like then you know, this is part of the process.
43:44
And then in whatever next year or maybe the end of this year,
43:48
the price is gonna go crazy and you're gonna be in like,
43:50
euphoric range. And again, I've been saying this
43:53
for a long time about the billionaire flood playbook.
43:56
You know, they want to keep the price low so that they can stack
43:59
Bitcoin. And so of course, Wall Street's
44:00
going to play their games to try to get as much Bitcoin as
44:03
possible. Like, this is the game
44:04
everyone's playing. This is the only game in town is
44:07
to try to scoop up as much cheap Bitcoin as possible so that you
44:11
can build your stack. So I'm not surprised this is
44:14
happening. Shouts at the James Lavish for
44:16
putting it in terms that us non traders, non Wall Street people
44:20
can understand, but for everyone else, it's going to make a run
44:24
at some point. You just want to continue to
44:26
stack. Make sure like boring is good.
44:29
You want it to kind of be boring so that you can stack as much
44:32
Bitcoin as possible, because bull run Bitcoin life is
44:36
absolutely crazy. It does a number on you mentally
44:40
just as much as a bear market does on you.
44:42
And so these boring times are a good thing.
44:44
You just want to continue to accumulate.
44:46
Hence why we always tell you guys it's a game of accumulation
44:49
just buy consistently, whatever your finances allow, make sure
44:53
you're constantly buying. This isn't a one time buy thing
44:56
and then you're gonna get rich. You just need to continue to
44:59
stack SAT and also I was reminded you know I I wasn't
45:04
able to do it on air and I was trying to get Nico to do it on
45:07
air, but we just did the IRL with James check check matey on
45:10
Twitter. Yeah, it was great incredible.
45:13
I would highly recommend you guys go watch it.
45:14
And his TLDR was basically like this is healthy price movement
45:19
for Bitcoin. This is a healthy market playing
45:21
out. And then on the back end, he's
45:23
been doing some threads on his on his Twitter.
45:25
I think it's at under score check matey that you can follow.
45:28
And he I, I asked him off there. I was trying to get it on air
45:31
for you guys, but I asked him whether the ETFs actually had
45:35
all that Bitcoin and as far as the metrics that he can see,
45:38
they have basically all the Bitcoin that they claim they're
45:40
buying. So yes, they're playing paper
45:43
games with Bitcoin in regards to what James Lavish was saying,
45:46
but they are accumulating that Bitcoin.
45:48
So at a certain point, like James Lavish was saying, it's
45:51
going to rip. And once they realize that these
45:55
Fiat games aren't going to work, everyone's going to just pile
45:57
into the trade stack as much Bitcoin as possible.
46:00
And again, I keep it simple and I, and I love that Willy Woo
46:03
also kind of kept it simple. It's simple supply and demand
46:06
dynamics. There's just more sellers than
46:09
buyers right now. And it's it's a great
46:11
opportunity for trust. This is how Bitcoin gets
46:14
distributed. Let the OG's make their gains,
46:16
sell their Bitcoin to new entrants, and we accumulate our
46:19
Bitcoin. It's the cost of tuition.
46:21
It builds character. This is how you become a
46:24
Bitcoiner is by understanding these dynamics, going through
46:28
the pain, stacking as much as possible.
46:30
And of course, shouts out the hotto.
46:32
He he's my favorite TA. That was the best TA I've ever
46:35
seen, man ever. Just keep buying.
46:37
It's super simple. We're all bored with the price,
46:39
but that's why Bitcoin is so great, because while the price
46:44
is boring, all the developers and the whole Bitcoin ecosystem
46:48
can grow and we get our tentacles in every aspect of
46:52
society. And once it really starts
46:54
running like the FOMO craze from retail and everyone else is just
46:58
going to be mind blowing. And I think we're going to see
47:00
that going into the end of the year.
47:02
And of course, that's not even taking into account all the
47:05
crazy macro stuff going on like everyone is waking up to what we
47:09
all know here at simply Bitcoin and in the audience and on
47:12
Bitcoin Twitter. Is that the only thing, the only
47:15
game in town right now is saving in Bitcoin.
47:18
It's it's trying to accumulate as much Bitcoin because
47:20
everything else is on the verge of either blowing up or it's
47:24
just not going to give you the return.
47:26
So just keep going, keep stacking.
47:28
This is the way. Hey man, this is the way.
47:30
All right, everybody, I give a very special shout out to our
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It's also a great way to potentially get connected with
48:31
Opti. All right, everybody, let's get
48:33
to the culture. Lots to talk about the daily
48:39
culture. Personally, I swiped right or
48:46
what is it? The the I I swiped left when I
48:49
saw Opti pop on my screen. But you know, everyone has
48:53
different tastes. I just want to give a shout out
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49:44
All right man I'm so excited because it's a Nikko and opt in
49:47
day today. I see you have a screen pulled
49:49
up the desktop. Where are we going with this
49:52
bro? All right, all right, so bear
49:54
with me and it's really all right.
49:56
Let me let me full screen this for a little bit.
49:57
Just giving you guys context. If you watch this show, we
50:01
probably say this like every other day.
50:02
I know Nico has his favorite catchphrases of like the
50:06
disinformation disintermediation of information, the Overton
50:09
window. You know, if you're against
50:11
Bitcoin, you're you're against freedom, Bitcoin or slavery and
50:14
all that stuff. But one of the stuff or why are
50:16
we forced to use a money that steals from us?
50:19
And so we're going to really kind of dive deep on that idea
50:22
of why are we being forced to use a money that steals from us?
50:25
But also put it in the lens of what we say all the time.
50:29
Nico, what's the phrase you always use of Fiat is a world of
50:32
nihilism, pessimism and I I forget what it is, poverty and
50:37
Bitcoin. Poverty, nihilism, despair,
50:41
destruction, slavery, all the terrible things.
50:44
That's what Fiat embodies. Anyways guys, there's only 131
50:49
likes. Make sure to smash the like
50:50
button if you guys are enjoying the show anyways Opti.
50:53
Yes, so I saw this chart and it really highlights that idea of
50:59
Fiat being the currency of war, being the currency of nihilism,
51:05
pessimism, poverty and all of that stuff.
51:07
And of course, I do want to start with the US debt clock
51:10
because anytime I get an opportunity to bring this up it
51:13
it's absolutely one of my favorite sites.
51:15
So again, we're over here at usdebtclock.org and you guys can
51:19
see the US national debt is almost at $35 trillion.
51:22
Wow, amazing, amazing. So debt per citizen, 100 and 3K
51:27
per person, debt per taxpayer, 266,000 per person.
51:32
And then of course, the US federal tax revenue, how much
51:35
money they actually make from taxes or from taxing you as
51:38
almost five trillion, $4.8 trillion.
51:41
And that's not even taking to account when Nico's favorite
51:44
number over here, the US unfunded liabilities of $216.5
51:48
trillion. So this goes, I think fully
51:52
flying in the face of everyone that says, oh, we just need to
51:55
tax the rich more. You know, like if we tax the
51:58
rich, if the rich paid their fair share, then we can finally
52:01
pay off this national debt. And there's literally no
52:04
feasible way to pay off the national debt and it's just
52:07
getting completely out of control.
52:09
And so the reason I wanted to bring up the national debt is
52:11
just continue to highlight that number.
52:13
We're almost at $35 trillion in debt in the United States.
52:18
And if I remember correctly, it's probably higher at this
52:22
point. But the last time I checked, we
52:24
printed 40% of all the dollars ever created in 2020.
52:27
And I'm sure it's probably higher at this point.
52:30
But anyways, I brought all that up to basically show you this
52:33
chart. So I'm over here on the
52:35
fred.saintlouisfed.org. This is the Saint Louis Federal
52:39
Reserve website. They have a lot of good charts
52:41
about trying to, you know, show you what's going on in the
52:44
economy, give you all the quote UN quote trusted expert numbers.
52:48
Again, I would kind of venture to say that all these numbers
52:51
are fake and they're probably off at some point.
52:54
But anyways, with that being said, check this chart out.
52:58
So we have right here, I don't know what color this is.
53:01
Is this purple or is this blue? We have feather federal
53:04
government national debt, defense consumption expenditures
53:08
and gross investment. So you have the money we spend
53:11
on National Defense right here in blue.
53:14
And then you have the government's current
53:17
expenditures and interest payments.
53:19
And for the first time ever, the interest payments have passed.
53:23
How much money we spend in National Defense.
53:26
So let me let me pull this in right now.
53:28
And this really highlights what we say here all the time on the
53:32
idea of Fiat being the currency of war.
53:35
What do we say? We always quote Ron Paul on the
53:37
idea of it's no coincidence the last 100 years is the bloodiest
53:42
year, the bloodiest century ever because we had the money printer
53:47
to continue to fund wars when we had no war chest.
53:50
And now we finally got to the point where the interest
53:54
payments, again, the interest payment on the national debt has
53:58
surpassed the amount of money that we pay for the military
54:02
industrial complex. Like if that doesn't blow your
54:04
mind, if that doesn't get you pissed off and make you want to
54:07
opt out of this madness, then I, I really don't know, like what
54:11
world you're living in because now the interest payment on our
54:15
debt exceeds how much we pay on the US military.
54:19
It, you know, it just crossed over this this year, it's
54:22
getting or rather at the very end of the last Q4 of last year
54:28
and it's continuing to exceed so never in any point in the US
54:33
history has our interest payments crossed how much it
54:37
cost to get to to pay for the whole entire military.
54:41
All right next I brought another chart, of course, because I want
54:44
to contrast this in regards to Bitcoin and this is an old
54:48
article, but I updated it for you guys.
54:49
You know, the Saint Louis, Fred, Saint Louis Federal Reserve,
54:52
they did this chart in the past a couple of a couple of years
54:55
ago about buying eggs with Bitcoin and they tried to
54:58
basically make it seem like it was getting more expensive.
55:01
When you buy eggs in, in regards to Bitcoin and then you put in
55:06
the numbers yourself and you zoom out, you realize that life
55:09
gets cheaper on a Bitcoin standard.
55:10
And we always bring up price in bitcoin21.com.
55:13
But I like using their numbers because most people would
55:16
probably think that, you know, you're getting the official
55:18
numbers. And it kind of drives a point
55:21
home that if you're living on the Bitcoin standard, everything
55:23
is getting cheaper. You know, your eggs are getting
55:26
cheaper, your grocery prices are getting cheaper.
55:28
And even if you zoom in, yes, you can see kind of the dips
55:31
here. This is basically the 2020
55:34
pandemic dip. And then we had the dip here in
55:37
2022 in the bear market, but it's all trending towards 0.
55:42
Your life is getting cheaper if you are saving in Bitcoin.
55:45
And if you're like we kind of we're talking about in the
55:48
beginning, if you're an OG, like your life is becoming incredibly
55:50
cheaper if you live on the Bitcoin standard.
55:53
And it really just highlights what we say here on the show all
55:56
the time as the idea of Fiat currency is the currency of war,
56:02
poverty, whatever, what pessimism, nihilism.
56:07
And Bitcoin is the complete opposite.
56:09
It is a currency of positivity, optimism.
56:12
If you start saving in Bitcoin, your life gets cheaper.
56:15
And of course you get to defund all of this madness and you take
56:19
your wealth, your labor, your life force out of the Fiat
56:22
system because, I mean, I don't know about you, but they're
56:26
going to continue to print money obscenely.
56:29
They're going to continue to find reasons to send money to
56:31
foreign countries to make financial aid packages to pay
56:34
off for whatever ridiculous new pet project they have.
56:37
And they, they have to continue to print money.
56:40
They have to continue to try to fund stuff so that they get
56:43
political favor. And now the interest payment on
56:46
the national debt is gotten higher than all of the money we
56:49
pay for the military industrial complex.
56:52
Like that's absolutely mind blowing to me that we've gotten
56:55
to this point and they're going to continue to try to spend more
56:57
money. Not only for, you know, military
57:01
engagements, but just to keep the the economy going right now.
57:06
And those interest payments are going to continue to go up.
57:08
Like there is no possible way that we can pay off this
57:11
national debt with our taxes. So just continue to opt out
57:15
saving Bitcoin, live a better life.
57:17
You know, we've been telling you this today.
57:19
Like, just tune out for the summertime.
57:22
Go enjoy your family, go enjoy real life.
57:24
The person you're arguing with on Twitter will be there when
57:26
you get back. And soon enough, the Bitcoin
57:29
price will start to pump. Your life will get deeper.
57:32
People will start to wake up to the idea that we say here every
57:35
single day that Bitcoin is a world view of hope.
57:39
And I don't know, Nico, when I saw this chart, I was like, wow,
57:42
that is absolutely incredible that the interest payments are
57:46
more than we pay for the entire military.
57:49
Like if that isn't a perfect example of what we say here as
57:52
Fiat is the currency of war. I don't know.
57:55
I don't know what it is like, I don't know what's going to
57:57
unplug people. I don't know how much pain
57:59
people are going to have to feel to finally look for solutions.
58:02
But the solution is here it is Bitcoin save in Bitcoin.
58:06
They cannot debase your currency.
58:08
They they can't fund their wars without basically your
58:13
obligation and your consent to give them your Bitcoin.
58:17
So as much as politicians want your Bitcoin, they're trying to
58:20
take, you know, Bitcoin for donations.
58:22
Don't give them your Bitcoin because you're just funneling
58:25
your money back into the very system that we're trying to opt
58:27
out of. ANYWAYS, rant over.
58:30
But yeah, man, that that chart was absolutely incredible.
58:33
A. 100% man, I, I think that's like one of the things that
58:36
actually James Lavish was bringing up was just this idea
58:39
of this debt spiral. And it's clear that the United
58:44
States, the, the, the spending is on a unsustainable
58:50
trajectory. And the way that you protect
58:53
yourself from this is you get off, you get on the lifeboat,
58:55
you get on the life raft lifeboat and you start saving in
58:59
Bitcoin like, you know, in, in 10 years, in 20 years.
59:03
And you're already starting to see it like they're going to be
59:05
paying more in interest alone, then they are going to be paying
59:09
in actual expenses and yearly expenses.
59:12
And look, I think no one deserves the power of the money
59:15
printer. And I think as the government,
59:17
you know, continues to say they want to surveil every $600.00
59:21
transaction for their citizens, They play by a different set of
59:24
rules. Like, you know, the Pentagon
59:26
loses billions of dollars. You know, where'd they go?
59:30
When they when we pulled out of Afghanistan, we left like $13
59:33
billion worth of equipment. Oh, Willy nilly.
59:36
And then it's like, oh, but we're going to raise your taxes.
59:39
And you know, that's the thing that you continue to hear that
59:42
message over and over again. It's these greedy corporations.
59:45
It's, you know, eat the rich like the whatever.
59:48
It's like, no, the problem is that government is spending
59:51
money it doesn't have and it's going to, is going to continue
59:54
to grow. That the the the amount of money
59:59
that they need to operate on a yearly basis is going to
1:00:01
continue to grow. And they're going to try to,
1:00:04
they're going to continue to squeeze it out of their citizens
1:00:07
like that's the reality. So don't pay attention to the
1:00:09
gas lighting has nothing to do with the rich, has nothing to do
1:00:13
with greedy corporations, and has everything to do with the
1:00:15
fact that the government is spending more money every single
1:00:19
year then it collects in tax revenue.
1:00:22
The government doesn't have a tax collecting problem.
1:00:24
It has a spending problem, right?
1:00:27
And but this is the type of thing where, you know, no one is
1:00:30
better than their incentives. The way that you fix this is the
1:00:34
separation of money in state. You take away the government's
1:00:37
ability to spend money it doesn't have.
1:00:39
And the way that you do that is by taking away the money printer
1:00:43
out of their hands. I don't think we'll be able to
1:00:45
do it politically. I don't think the the willpower
1:00:48
is there. I think, you know, to, to, to
1:00:51
borrow Hayek's quote, I think, which is we need to find a sly
1:00:55
roundabout way and that sly roundabout way is Bitcoin,
1:00:58
right? So anyways, man, great episode
1:01:01
guys. This was June 19, 2024.
1:01:04
I'm your host, Nico is my legendary Co host.
1:01:07
Optimus Fields will be back tomorrow for the Thursday
1:01:09
episode of Simply Bitcoin live. Until then, guys, go outside,
1:01:13
touch grass, enjoy yourself. It's summer.
1:01:16
We're going to be crabbing for a couple months, baby.
1:01:19
So just unplug, relax, breathe, and remember this desperation,
1:01:24
this boredom that you feel, this like this feeling like, why is
1:01:28
this moving? That's what they want you to
1:01:29
feel. They want you to capitulate.
1:01:31
Don't capitulate. Double down, buy more bitcoins,
1:01:35
stay humble, stack sats, stay solvent.
1:01:37
This is how we win. Wait, wait, before we go off?
1:01:39
Before we go off, we did get a super chat. two US dollars.
1:01:46
Why should the US print money? Exactly.
1:01:49
That's such a, that's such a really important question.
1:01:51
Why should the government have the ability to create money for
1:01:54
free that the rest of us has to work for?
1:01:55
Let's keep hammering that message home.
1:01:58
All right, everybody, love you all.
1:01:59
We'll see you on the next one. This episode was brought to you
1:02:03
by bitcoinwell.com on a mission to enable independence.