Latest / Simply Bitcoin / BREAKING: Central Banker EXPOSED In BOMBSHELL Interview | EP 1115

Transcript

BREAKING: Central Banker EXPOSED In BOMBSHELL Interview | EP 1115 · Simply Bitcoin

• 0:00
  Yo, the largest central bank in the world.
• 0:03
  Just expose that no matter how badly they destroy your money,
• 0:06
  they can never be fired. Many libertarians and Bitcoiners
• 0:10
  believe we need to end the Fed. But today we're going to discuss
• 0:14
  an interesting thought experiment from Tom Luongo, who
• 0:16
  says that maybe the Fed is fighting for US against the
• 0:19
  globalists at Davos. Before we get into all that,
• 0:23
  let's play this video that has basically broken the Internet.
• 0:27
  Here we go. Politico.
• 0:32
  Some of the president's elect's advisors have suggested that you
• 0:35
  should resign. If he asked you to leave, would
• 0:38
  you go? No.
• 0:41
  Can you follow up on it? Is it, do you think that legally
• 0:45
  he did? You're not required to leave.
• 0:47
  No. I guess the other other question
• 0:51
  is to follow up on Victoria's question.
• 0:55
  Do you believe that the President has the power to fire
• 0:57
  or demote you? And has the Fed determined the
• 0:59
  legality of a president demoting at will any of the other
• 1:03
  governors with leadership positions not permitted under
• 1:06
  the law? Not what not permitted under the
• 1:10
  law. My first take on this, this was
• 1:13
  me kind of trolling on Twitter, is it shows that so many people
• 1:18
  haven't read The Creature from Jekyll Island.
• 1:20
  And if you did, you know the very simple heuristic that the
• 1:24
  Federal Reserve is not federal and has no reserves.
• 1:27
  It's a private corporation whose business it is to create money,
• 1:31
  literally the money creation leviathan that Bitcoin is here
• 1:36
  to stop. Anyways, let's get the first
• 1:38
  Bitcoin take. Let's get the standard Bitcoin
• 1:40
  take here. Of course, I got a tweet from
• 1:42
  Bellagi where he's kind of, you know, recapping all the things
• 1:45
  seen in the last couple of months since the election and
• 1:48
  the media, you know, Trump win. Next is end the Fed.
• 1:52
  And this is a Bitcoin trope that we've been talking about for a
• 1:55
  long time. If you've been in Bitcoin for a
• 1:57
  couple of years, maybe if you're new to Bitcoin, you might know
• 2:00
  who Ron Paul is. Of course, he is the libertarian
• 2:03
  candidate. He's a libertarian politician
• 2:05
  who's been on the beat. He's been saying this for like
• 2:08
  50 years that we need to end the Fed.
• 2:10
  And here we go. This is a little recap of the
• 2:12
  Creature from Jekyll Island. If you haven't read that book,
• 2:15
  highly recommend when you read it, it is a big book, but it
• 2:18
  does kind of open your eyes on what exactly is the financial
• 2:23
  status of the world and how the Fed was created.
• 2:25
  Anyways, here we got a little recap from Bellagio. the Fed was
• 2:28
  it was created by Congress in 1913.
• 2:31
  Again, if you read the creature from Jekyll Island, you'll
• 2:33
  remember and you'll understand that the Fed was created
• 2:36
  literally in the cover of nine and forced through Congress in
• 2:39
  1913. So hey, again, it's not federal
• 2:43
  and it has no reserves. Anyways, Bellagio continues.
• 2:45
  And so since it was created by Congress, it can be shut down by
• 2:48
  Congress and Republicans now have the power to do this.
• 2:52
  They have ex executive, legislative and the judicial
• 2:55
  branch. They have the support in tech,
• 2:56
  finance and media. They have a population sick of
• 2:59
  inflation. And above all, they are bit
• 3:01
  corners and they have bitcoins. So you know, they're they're on
• 3:05
  the path to what we've been talking about for a while of
• 3:08
  ending the Fed and Ron Paul has endorsed Donald Trump in this
• 3:12
  election cycle. Now, there's a a couple of
• 3:14
  different takes you can take. You know, some, I saw Lynn Alden
• 3:17
  post this morning basically saying like there's no chance
• 3:20
  that the Trump administration will end the Fed.
• 3:22
  We're not there. But it is very interesting that
• 3:25
  we are having these conversations and that, you
• 3:28
  know, Jerome Powell, the head, the president of the Federal
• 3:31
  Reserve, is essentially saying what we tell you guys all the
• 3:34
  time, that this is a private corporation.
• 3:37
  The president doesn't have the power to fire Jerome Powell.
• 3:40
  Anyways, moving forward, which is I think a little more of a
• 3:43
  nuanced take is by Tom Luongo. And if you're not familiar with
• 3:47
  Tom Luongo, he holds a a great podcast.
• 3:50
  He's kind of AI mean. You might say he's a little
• 3:52
  contrarian, but I think he's got a good grasp on what's going on
• 3:55
  in the global landscape. Of course, his podcast is Gold
• 3:59
  Goats and wait, it's Gold goats, man.
• 4:03
  I'm blanking on the title of his his podcast, but highly
• 4:06
  recommend you look into Tom Luongo.
• 4:08
  Anyways, he recapped it this morning and this is his take on
• 4:13
  it. I'm not going to read the whole
• 4:14
  tweet here, but this is kind of an interesting take.
• 4:17
  I've heard a couple other Bitcoiners talk about this.
• 4:19
  You know, there's a meme going around on Twitter that, you
• 4:22
  know, Daddy Jerome Powell is actually doing a good thing.
• 4:25
  So, and this is kind of Tom Luongo thinking.
• 4:27
  So recapping a little bit of this tweet.
• 4:29
  Here we go, Tom Luongo on Twitter.
• 4:31
  A lot of people are waking up this morning to force feed
• 4:34
  narratives. Chairman Powell saying he
• 4:37
  wouldn't step down if asked to by Trump.
• 4:40
  Now going into this a little bit, he's saying that this was
• 4:44
  kind of a setup and powers. Powell's response wasn't a flex.
• 4:48
  It was a statement to Davos that the Fed doesn't work for them
• 4:51
  anymore. It's independence under Powell
• 4:53
  won the US election. The commercial banks that Trump
• 4:56
  is going to activate to rebuild America took a punch in the
• 4:59
  mouth as the Fed raised rates hard to drain the world.
• 5:03
  The howls you hear this morning are all in Europe, not China,
• 5:06
  not Russia, not Iran, the UK, they're in the UK and the EU.
• 5:10
  And he goes on to say we'll end the Fed, but after we've broken
• 5:14
  the Bank of International Settlements, the IMF, the ECB
• 5:17
  and most importantly the Bank of England.
• 5:20
  And Tom Malonga has been on this beat for a while.
• 5:23
  That essentially all the interest rate dance we've seen
• 5:25
  in the past year is not so much about, you know, us necessarily
• 5:31
  just trying to control our economy.
• 5:33
  It's really aimed at trying to bankrupt the Davos globalist
• 5:38
  crowd and and the creation of dollars outside of the US
• 5:42
  system. So as much as I am a just a
• 5:45
  classic, you know, G Edward Griffin creature from Jekyll
• 5:49
  Island Bitcoiner, I find it very interesting.
• 5:52
  Tom Luongo is kind of saying like, look, Jay Powell was
• 5:55
  actually doing some good stuff for the US.
• 5:58
  Is he a friend or is he an enemy?
• 6:00
  I think only time will tell. But what we're seeing, and this
• 6:04
  is the Tom Luongo train of thought, is that now we've
• 6:07
  separated ourselves from the globalists at Davos and we know
• 6:09
  what the World Economic Forum at Davos thinks about Bitcoin, what
• 6:12
  they think about the global landscape.
• 6:14
  They want you to own nothing and be happy.
• 6:17
  And now it seems teams like the US potentially is trying to find
• 6:23
  its own independence, separate ourselves from all of the crazy
• 6:25
  nonsense going on across the pond.
• 6:28
  And I just find it very interesting, You know, the
• 6:31
  standard trope of Bitcoiners is and the Fed.
• 6:33
  But this is a very interesting thought process or thought
• 6:36
  experiment from Tom Luongo that hey, maybe Fed is actually
• 6:40
  fighting to separate us from the Davos globalist crowd.
• 6:45
  Do we know? I don't know.
• 6:46
  But if you want more info on this, check out Tom Luongo's
• 6:49
  work. And I think I'm going to pass it
• 6:51
  over to Curtis. Oh, wait, before I go on, of
• 6:53
  course, I have our fearless leader in the Co host seat again
• 6:56
  today, Nico, And we have Curtis Harris from Compass today.
• 7:00
  So we got a jam packed show for you guys.
• 7:01
  But Curtis, first of all, what's your thoughts on Jerome Powell
• 7:05
  saying, you know, he'll never be fired?
• 7:07
  And then maybe go on, on, on. What's your thinking behind the
• 7:10
  End the Fed meme? Oh my goodness, Opti, your, your
• 7:15
  enthusiasm is contagious. This is so exciting to be here
• 7:19
  as a part of your guys's show today and even the comments that
• 7:22
  the simply Bitcoin community is blowing up in the comments.
• 7:26
  This is a a a lot of fun. My, my, my initial, you know,
• 7:29
  reaction is just discussed. It's our federal government is
• 7:32
  disgusting. They they they've overreached.
• 7:35
  They, they're not responsive to us.
• 7:37
  Obviously the, the reality that the Fed is neither federal nor
• 7:41
  do they have reserve is real. But just to see him up there
• 7:45
  shaking his head, no, I wouldn't be responsive to the elected,
• 7:48
  you know, to the elected president.
• 7:50
  I do love that the first response you went to was
• 7:53
  biology. I got a picture of biology
• 7:55
  behind me. He's been very influential in my
• 7:58
  my thinking about how I look at America and national and
• 8:02
  international politics. I think I'll try to make one
• 8:06
  good point and then give it back to you or, or over, over to
• 8:11
  Nico. I listen to Michael Saylor.
• 8:13
  I believe you talking. He was speaking to Robert
• 8:15
  Breedlove. This is probably 6-8 months ago.
• 8:18
  So it was a good in depth podcast conversation with
• 8:20
  Michael Saylor. And basically you could hear
• 8:23
  sailors saying in context is that we we understand Bitcoin is
• 8:29
  looking to replace the dollar in a variety of ways.
• 8:32
  But we're never going to have a financial system that doesn't
• 8:36
  have all of these tools and functions that it's not going to
• 8:41
  be all Bitcoin, it's going to be Bitcoin and all these other
• 8:45
  things are going to be dramatically influenced by it.
• 8:47
  They're never going to completely go away.
• 8:49
  So as much as I'm a pleb, I'm a coiner like in the Fed could
• 8:54
  literally be tattooed on me. I'm not sure that it's ever
• 8:58
  going to go away. And so maybe some of this is
• 9:01
  just positioning. The last thing I'd say is I I
• 9:04
  wouldn't want to position against Trump, though, if you're
• 9:06
  going to, if Powell's going to get up there and say, oh, you
• 9:08
  can't fire me, that's back in Trump into a corner.
• 9:11
  And it'd be interesting to see what happens.
• 9:13
  Those are my brief thoughts. Curtis, I agree with you, Curtis
• 9:16
  So and then it's quite interesting.
• 9:18
  So I actually tweeted this out yesterday.
• 9:21
  Completely coincidental. This is the most viral tweet
• 9:23
  I've ever had. 2 million views, less than 24 hours, 46,000
• 9:28
  likes. And I just asked a very simple
• 9:30
  question and it seems like it resonated with some people.
• 9:33
  Wait, so if the chairman of the Federal Reserve can't be fired
• 9:37
  and isn't elected, who is he accountable to?
• 9:39
  I mean, it's a it's a pretty like important question.
• 9:43
  Now, there was a lot of people that chimed in.
• 9:45
  Apparently Congress does have the authority to, you know, fire
• 9:50
  Jerome Powell. But the kind of pomp in that
• 9:54
  answer, right? You know, it's like, no, I, you
• 9:57
  know, I, what are you talking about?
• 9:59
  No, you know, was, was very, I, I don't think he realized how
• 10:04
  much he said in what he didn't say.
• 10:08
  It was, it was, it was quite revealing.
• 10:11
  And I agree with Curtis. I don't think right now in terms
• 10:15
  of the Overton window, you know, it would be socially acceptable
• 10:19
  or popular for most of the American, you know, electorate
• 10:23
  to, you know, go along with ending the Federal Reserve.
• 10:27
  However, I think with Trump getting elected into office, the
• 10:31
  Overton window has shifted dramatically in the last year in
• 10:36
  terms of Bitcoin policy. Talking about a a potential
• 10:39
  strategic reserve. Trump is talking about ending
• 10:43
  the federal income tax. Trump is talking about ending
• 10:47
  capital gains taxes on, on, on Bitcoin.
• 10:50
  I mean, talk about moving the Overton window.
• 10:52
  And here's the thing. The federal income tax was
• 10:56
  introduced the same year that the Federal Reserve was
• 11:00
  established in 1930. 13 So I think once you start going down
• 11:04
  the rabbit hole of the federal income tax, it leads to the Fed,
• 11:09
  right? So, you know, Elon is talking
• 11:13
  about, you know, potentially rolling out this what he calls
• 11:18
  doge, the Department of of government efficiency.
• 11:21
  And here's the thing, you know, even if you get in in, you get
• 11:25
  in Elon in there and you clean up, you know, the overspending
• 11:30
  and the inefficiencies, the problem remains the same.
• 11:33
  As long as the government has the ability to print money, all
• 11:37
  it takes is another administration to come in there
• 11:39
  and turn on that money printer again.
• 11:42
  And we're back at square one, right?
• 11:44
  So I think the Overton window is shifting.
• 11:47
  I agree with Curtis. We are not there yet, but it is
• 11:50
  definitely moving in that direction.
• 11:54
  And I would not be surprised if this whole end the Fed talk
• 11:59
  starts to become kind of mainstream within the in the
• 12:03
  next decade or so. I mean, you know, Elon was
• 12:07
  discussing the idea of of having Ron Paul join him on the
• 12:13
  Department of of government efficiency.
• 12:15
  And we all know how Ron Paul feels about the Federal Reserve.
• 12:19
  So I definitely believe that the Overton window is shifting.
• 12:23
  Anyways, I do want to to give a shout out to we just broke 1000
• 12:26
  live viewers between YouTube and X.
• 12:29
  So if you guys are enjoying the show so far, make sure to smash
• 12:33
  that like button you're listening to simply Bitcoin live
• 12:36
  Opti's in the host seat today. I'm Co hosting and of course our
• 12:39
  special guest today is Curtis from compass mining.
• 12:42
  Anyways, before we start the show, I do want to give a
• 12:45
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  Let's go. OK guys we are over here of
• 16:04
  course on Clark Moody's dashboard, one of the best
• 16:07
  dashboards out there. The current Bitcoin price is
• 16:09
  currently at $76,300. The SAT per dollar, AKA how much
• 16:14
  the dollar is worth in Bitcoin, AKA how much Bitcoin you can buy
• 16:17
  in a single dollar is currently 1311 SAT and the current block
• 16:22
  hype is 869,458. And the market cap in Fiat
• 16:28
  terms, in dollar terms is $1.51 trillion for Bitcoin.
• 16:32
  And the Bitcoin versus gold market cap, look, it's it's
• 16:34
  still inching up a little bit guys, is that 8.09%?
• 16:38
  We're almost at 10% of gold's market cap.
• 16:40
  So much room to run in the hard money game.
• 16:43
  And of course, the total percentage of Bitcoin that will
• 16:45
  ever be issued is currently at 94.18%, which means 19.7 million
• 16:51
  Bitcoin are currently circulating right now.
• 16:54
  You might want to get some just in case it catches on, boys and
• 16:57
  girls. All right, this next video guys
• 17:00
  is this is a topic that Nico and I talk about here on the show
• 17:03
  constantly that the fundamental question you need to ask
• 17:06
  yourself, I think before you fall like besides just seeing
• 17:09
  the Bitcoin price go up. When you really fall down the
• 17:12
  rabbit hole is when you ask yourself a fundamental question
• 17:15
  of wait, what is money? What is this that I work and I
• 17:19
  slave over for? Like, what am I getting paid in
• 17:22
  what, what are the actual mechanisms going on with the
• 17:24
  money that I use, the currency that I use?
• 17:26
  And once you ask yourself that question of what is money?
• 17:29
  You, you, you're never coming back to the Fiat system.
• 17:32
  You're a bitcoiner. Once you have that epiphany
• 17:34
  moment, you are a bitcoiner. Well, we got a clip here, which
• 17:38
  is very interesting. This is the former CEO of Sue
• 17:41
  the Bees, which is, of course, you know, a big company about
• 17:45
  art and Valium. And this guy just just fell down
• 17:49
  the rabbit hole. I think it was like a year or
• 17:51
  two ago, but he asked himself the fundamental question of what
• 17:54
  is money? And now he's coming out as like,
• 17:57
  This is why I'm a bitcoiner. So couple things here, Of
• 18:00
  course, ask yourself, what is money?
• 18:02
  And you're never going to go back to Fiat dollars.
• 18:04
  And two, it is never too late to start and become a bitcoiner.
• 18:08
  So let's play this clip here. Let's see his thinking here, and
• 18:12
  let's see how quickly you can become a bitcoiner if you ask
• 18:15
  yourself the question of what is money?
• 18:20
  Oops. I can sell you a $20 million
• 18:22
  painting, but I can't tell you why a piece of code is money.
• 18:26
  That's an interesting paradox. So that was the journey.
• 18:31
  And so I dove deep and began to question what, why, what is
• 18:38
  money exactly? I thought it was currency.
• 18:40
  I was wrong. And then what, what creates
• 18:42
  value? Why do things have value?
• 18:45
  What, what is it about us that ascribes value to things?
• 18:50
  And and then I and I literally went down a rabbit hole and it's
• 18:55
  actually not too far off what Michael Saylor or some of these
• 18:59
  people talk about, about, you know, do 100 to 1000 hours on
• 19:02
  it. And you really dive into
• 19:03
  podcasts and dive into the books and ask yourself, go on an
• 19:07
  intellectual journey about what does all this stuff mean and why
• 19:10
  is it important? And then they're startling
• 19:14
  insights that I have now at age 59 that I didn't have at age 57
• 19:19
  that came from this journey. You want an example?
• 19:24
  I didn't realize that if the average year the money printer
• 19:31
  goes, call it eight to 10%, even in the Western countries, even
• 19:36
  in the OECD nations, and the average return on the S&P 500 is
• 19:41
  call it 9:00-ish percent including dividends, maybe 9.7,
• 19:46
  maybe a little less. That it means that all of the
• 19:50
  work of the S&P 500, all of the value created there is actually
• 19:55
  the money printer. That to me was startling.
• 20:00
  I mean, to think about that, the fundamental notion that in a
• 20:06
  closed system, or even an open system, when you're printing
• 20:08
  money at the rate of eight to 10% a year, everything is losing
• 20:11
  value. And the things that appear to be
• 20:14
  gaining value are not gaining value.
• 20:18
  They're just keeping you even. So you can put all your money in
• 20:21
  the S&P 500 and you're not gaining any relative wealth at
• 20:24
  all. Absolutely incredible guys.
• 20:28
  This guy is literally was the former CEO of the auction house
• 20:32
  for all the richest people. We talk about this constantly.
• 20:35
  You know, if you can't save in dollars, then you start looking
• 20:38
  for alternative means to store your value.
• 20:40
  And one of those is of course art.
• 20:43
  And we're seeing that there's what billions of dollars of of
• 20:47
  capital going into art to store their value.
• 20:50
  And here we are as Bitcoiners where we're just like, hey, man,
• 20:52
  like just start buying and saving in Bitcoin.
• 20:55
  This is the way. But it is very interesting that
• 20:58
  he was even asking himself like, wait, what is value?
• 21:01
  I literally sell you art to maintain your purchasing power
• 21:04
  as a store of value. And even these incredibly smart
• 21:07
  people don't understand money as well as a lot of Bitcoiners do.
• 21:10
  And we talk about this constantly that once you change
• 21:13
  your operating system to a Bitcoin standard and you look at
• 21:16
  the world through a Bitcoin lens, you start to understand,
• 21:19
  wait, where is the undervalued assets out there in the world?
• 21:23
  Where is the best money in the world?
• 21:25
  And of course, we're Bitcoiners. We think it's simply Bitcoin.
• 21:28
  But it is also very interesting that he did mention Michael
• 21:32
  Saylor himself. Yes, Michael Saylor got a little
• 21:34
  bit of Flack last week or two, but Michael Saylor, I think has
• 21:37
  been pivotal, pivotal in exposing the world, the
• 21:41
  corporations and the high value asset people to why Bitcoin is
• 21:45
  important. And now we're seeing that it's
• 21:47
  starting to catch on and people are asking themselves a
• 21:49
  fundamental question. Wait, what is money?
• 21:51
  You know, he was 57 years old, spent his whole life working for
• 21:54
  dollars, spent his whole life in a Fiat standard of Fiat
• 21:57
  programming. And now he's like, wait, I asked
• 22:00
  myself the question of what is money?
• 22:02
  And I ended up a Bitcoiner. But it is also interesting that
• 22:06
  we talk about this constantly. You know, you probably have
• 22:08
  friends out there that are in real estate and they're like,
• 22:10
  man, you know, your, your parents may be like, what I'm
• 22:14
  good. You know, my house went up and
• 22:15
  whatever, you know, it went up 100% in the last couple of
• 22:18
  years. And we always say the same
• 22:20
  thing. It's like, no, it didn't really
• 22:22
  go up in value per, it's just that the denominator, the
• 22:26
  measurement of it is going down, hence why it looks like your
• 22:29
  assets are increasing. And once you can understand that
• 22:33
  simple, simple formula, you start to look for alternatives.
• 22:36
  And we always do our best to try to hit this from a different
• 22:40
  angle and show that, look, it's a very simple switch.
• 22:42
  You just got to switch your money, your denominator to
• 22:45
  Bitcoin. Again, everything divided by 21
• 22:47
  million, your life is going to be simpler.
• 22:50
  Your life is going to get better, Your purchasing power is
• 22:54
  going to increase because there's only one real money in
• 22:56
  the world as far as I'm concerned.
• 22:58
  And of course, that is Bitcoin. Anyways, Nico, I'm going to pass
• 23:01
  it on to you because you say this every single day, OK?
• 23:05
  Basically on the show that the first step is asking yourself
• 23:08
  what is money? And the second step is you start
• 23:11
  to ask yourself, wait, what is the role of government here?
• 23:14
  What is the role? So let's jump on the 1st
• 23:15
  question of are you surprised that we're seeing incredibly
• 23:19
  rich people? You know, wealthy people start
• 23:21
  to ask themselves what is money? And it's really interesting that
• 23:24
  they can acquire so much wealth and yet still not understand the
• 23:28
  very basic mechanism of how money works and what is
• 23:32
  currency, etcetera. Yeah, absolutely.
• 23:34
  And look, so this is a continuation of the trends, like
• 23:38
  we've been seeing this for, you know, a couple years now in
• 23:42
  Bitcoin, right? Even Michael Saylor was kind of
• 23:45
  hesitant in the beginning. You know, the there's been so
• 23:50
  many examples of just people, very influential people,
• 23:53
  including Trump, right? Trump was basically saying that,
• 23:57
  you know, that this Bitcoin thing, he wasn't a fan of it.
• 24:00
  And then all of a sudden, you know, he's at the Bitcoin
• 24:02
  conference, You know, at the very end of the speech, it was
• 24:04
  so funny what he said. He's like, have fun with your
• 24:06
  bitcoins. So, you know, number go up
• 24:09
  technology is very powerful. And the thing with number go up
• 24:13
  technology is that it proves that money can exist without
• 24:19
  inflation. And if money can exist without
• 24:22
  inflation, it calls into question Fiat money itself.
• 24:27
  And if Fiat money itself is called into question, then you
• 24:31
  kind of start to ask yourself like, wait a second, like if
• 24:37
  Bitcoin is better money, then why have they been telling us
• 24:42
  that inflation is some like, like it's like part of Mother
• 24:46
  Nature. It's like it's almost as if it's
• 24:49
  just, it's just, it's just there And it it kind of it kind of
• 24:54
  wakes you up in a way and it starts to make you ask questions
• 24:59
  in terms of wait a second. So I pay income tax.
• 25:03
  That's the social contract. I never agreed to the money tax.
• 25:08
  And make no mistake, inflation is tax.
• 25:12
  I mean, Elon said this the other day, you know, on, on, on one of
• 25:16
  the campaign speeches that he was doing to get Trump elected.
• 25:19
  He he was making the case like, look, inflation is a form of
• 25:22
  taxation because that is how they're paying for things. the
• 25:27
  US government last year in, in, in 2023, they spent 1.7
• 25:32
  trillion. That's trillion with AT that's
• 25:34
  more than the GDP of most countries on planet Earth.
• 25:38
  Then they collected in tax revenue.
• 25:40
  How did how were they able to spend more than they collected?
• 25:45
  They printed the difference. What people have failed to see
• 25:49
  yet, even though that Overton window is shifting and shifting
• 25:52
  very fast, is that the, it's not free.
• 25:58
  It's not free like the, the, the all this funding all this, you
• 26:02
  know that you hear the government saying, oh, you know,
• 26:04
  we spent $10 billion on that. That is directly coming out of
• 26:09
  your pocket if you're holding dollars.
• 26:12
  The thing about Bitcoin, though, if you're holding Bitcoin, it
• 26:16
  actually highlights the fact that not only can money survive
• 26:22
  without inflation, but it also highlights the fact that the
• 26:27
  world should actually be getting progressively cheaper as time
• 26:32
  goes by, as you see increases in productivity due to technology.
• 26:37
  I mean, this is the case that Jeff Booth makes in the book The
• 26:41
  Price of Tomorrow. Bitcoin is the only money, the
• 26:44
  only unit of account that is properly reflecting that with
• 26:49
  Fiat. I mean, Sailor puts it
• 26:50
  beautifully. He says if you're saving and
• 26:53
  earning in Fiat, it's like you're literally holding a
• 26:57
  melting ice cube in your hand. And this is precisely why
• 27:01
  Michael Saylor, when he adopted a Bitcoin strategy, is
• 27:06
  outperforming the rest of the S&P 500.
• 27:09
  Microsoft release a press release the other day where they
• 27:12
  were asking their investors, should we invest in Bitcoin
• 27:16
  because we're a software company, We make more revenue
• 27:20
  than MicroStrategy, but MicroStrategy is outperforming
• 27:24
  our stock by 313 percent. What's going on there?
• 27:28
  Well, it's just clear Michael Saylor has adopted a Bitcoin
• 27:32
  strategy. I know what that's done for me
• 27:34
  on an individual level. I know what it's done for Opti.
• 27:36
  I know what it's done for simply my company.
• 27:39
  It's a cheat code in a world where most people are still
• 27:43
  living on a Fiat standard. So to kind of weave it back in,
• 27:48
  I think you're going to see a continuation of this trend where
• 27:51
  people are going to wake up and say, wait a second, you know
• 27:54
  what, what is money? What is this thing?
• 27:58
  This isn't exactly what we were sold on.
• 28:01
  We never agreed to this money tax.
• 28:03
  What is going on? And I think number go up.
• 28:07
  Technology is just going to continue to, you know, wake
• 28:11
  people up to the reality. And again, the inevitable
• 28:15
  question where I'm personally at in my rabbit hole journey and
• 28:18
  then I want to pass it on to Curtis is like, what is the role
• 28:23
  of government, right? What is the role of government?
• 28:25
  I think it's a very, very important question.
• 28:28
  Should government be in the business of getting to narrate
• 28:32
  what is truth? What is not truth?
• 28:34
  Should government get into the business of, you know, deciding
• 28:37
  to, you know, think about it in terms of EU s s foreign policy
• 28:41
  for the last 50 years, it's been endless wars.
• 28:45
  And then how are they able to pay for those wars?
• 28:48
  Printing money. They can't pay for those wars
• 28:50
  via direct taxation. So again, it it it kind of calls
• 28:55
  into question, you know, like things are things are radically
• 28:59
  going to change in my opinion, and I think it's going to be for
• 29:03
  the better. And I think individuals are
• 29:06
  going to really, really benefit from this.
• 29:09
  I think Bitcoin is middle class money in my opinion, because
• 29:13
  Fiat money disproportionately affects the lower middle classes
• 29:16
  the most because they don't have the means to save in assets.
• 29:20
  So Bitcoin I think is for the middle class.
• 29:24
  And I think more and more people are going to wake up to that
• 29:26
  reality as number go up does its thing.
• 29:29
  Curtis, I mean, are you surprised to, you know, hear
• 29:33
  these words for from from another, you know, influential,
• 29:36
  powerful person, successful person.
• 29:41
  It's not surprising to me. It's a surprising to you.
• 29:43
  Are you seeing things on your end?
• 29:45
  Are you seeing this trend? Well, the I mentioned in my
• 29:52
  first comments how excited I was to be here in Opti's contagious
• 29:56
  enthusiasm. You know, another thing that's
• 29:59
  contagious in this conversation is your guys is just core
• 30:03
  Bitcoin fundamentals. It this is an incredibly
• 30:06
  comfortable conversation to to be in.
• 30:09
  You know, Nico, I think you mentioned it.
• 30:10
  They were going to see more of this.
• 30:11
  This is what global adoption looks like.
• 30:14
  I I don't fault him. I'm not mad at him, but I can
• 30:17
  see in that video and know from his, you know, esteemed position
• 30:20
  that he stands closer to the money printer than I do.
• 30:24
  People with, you know, high net worth.
• 30:26
  They look to art in order to, you know, secure their wealth
• 30:31
  and to move it forward And did you know other generations and
• 30:33
  also to play strategies and to combat against the government.
• 30:37
  So there's there's no doubt in my mind that that man has a
• 30:41
  different perspective of our money system than I do.
• 30:45
  But obviously I got it asking the real fundamental question,
• 30:48
  what is money? And to see him go through that,
• 30:52
  I think that is what global adoption looks like.
• 30:55
  Nico, you, you mentioned Michael Saylor and the, the you know,
• 30:58
  his melting ice cube theory. That's really one of the reasons
• 31:01
  that I was here. My my background was
• 31:03
  construction, civil engineering, zoning, land use, regulatory
• 31:07
  approval. I used to be a suit and tie guy
• 31:10
  in front of city commissions. I was really at the top of my
• 31:13
  career. I loved what I did, but we got a
• 31:15
  bunch of kids. I was being crushed by
• 31:18
  inflation, personally crushed by inflation, 1 income family.
• 31:23
  I couldn't pay for braces and I just couldn't figure it out.
• 31:26
  All this money, I can't afford braces.
• 31:29
  I started asking myself that very basic question, what is
• 31:34
  money? I think I was being influenced
• 31:35
  by a variety of the podcasts around me and it was Michael
• 31:39
  Saylor's passion explanation of the melting ice cube theory that
• 31:43
  really brought me in. And so now, if we if we
• 31:46
  understand, you know, U.S. government printed currency is
• 31:52
  not what money is. It's a a fallacy that we've
• 31:55
  been, you know, led to believe it works.
• 31:57
  We're lucky we're in America. We have, you know, my, my
• 32:00
  paycheck gets direct deposited, my credit card works.
• 32:03
  The global economy isn't the same.
• 32:07
  But if we get to the point where we we know that the money's
• 32:10
  broken. And now we get into the bigger
• 32:11
  question is what is government? Wow, that that is a a profound
• 32:16
  question. I do I, I do see and we just saw
• 32:21
  the election. We saw, you know, Elon and you
• 32:24
  know, and Trump and you know, fire Gensler.
• 32:27
  We, we saw a left, right divide over Bitcoin that I, I wish
• 32:32
  wasn't there. I wish that there wasn't that,
• 32:36
  you know, liberal conservative divide over Bitcoin.
• 32:39
  It it I do see some of that. And it also feels like hardcore
• 32:44
  Bitcoiners are, are very interested in reduced government
• 32:49
  and shrinking government, less government interference, less
• 32:53
  money printing. And so I think I own smaller
• 32:57
  government as a part of my core ethos.
• 32:59
  But I, I do think that that could just be a part of a, a
• 33:02
  Bitcoin culture. What what is your guys's
• 33:05
  experience been you interact with this audience daily?
• 33:11
  I I I think bitcoiners are by their nature small government
• 33:16
  fundamentalist. Yeah, I mean, so I think the
• 33:19
  like, I think the, the, you know, and I, you said something
• 33:24
  very, very important, Curtis, and I want to echo that, right,
• 33:27
  which is Bitcoin is a technology, It's a neutral
• 33:30
  technology. It's for everyone.
• 33:32
  It's it should not be partisan. I think it was we were forced as
• 33:37
  a community to take a more partisan stance because of the
• 33:42
  attack on the industry from the current administration operation
• 33:46
  choke .2 point O the proposed 30% Bitcoin mining tax.
• 33:51
  You know, the the attack on on on self custody, the arrest of
• 33:56
  Bitcoin privacy developers. So you know it it kind of forced
• 33:59
  us into a corner to have to fight back.
• 34:02
  And I do want to give credit or credit is due to all the
• 34:05
  organizations, whether is Bitcoin Policy Institute, Coin
• 34:08
  Center, Coinbase actually did a pretty good job in terms of
• 34:11
  lobbying in Washington to really kind of, you know, fight back
• 34:16
  against this overreach. So I don't think it's necessary.
• 34:20
  I don't think it's that Bitcoiners are necessarily
• 34:23
  inherently against big government.
• 34:26
  I think Bitcoiners are Bitcoiners are very vocal
• 34:31
  against government overreach in regards to their ability to take
• 34:37
  self custody of their Bitcoin and use Bitcoin as, as, as a, as
• 34:42
  a form of savings. I, I don't see that.
• 34:45
  I, I, I haven't seen Bitcoiners even, you know, this is a
• 34:49
  conversation I've had with Opti. I, I haven't seen Bitcoiners
• 34:53
  even care about politics. In fact, we got a lot of
• 34:55
  pushback when we started talking about politics is because we
• 34:59
  were forced to from the audience because they're like, I, I'm
• 35:04
  tuning into this to hear about Bitcoin.
• 35:06
  I'm not tuning, tuning in to to hear about politics.
• 35:09
  Now in that regard, there are some libertarian ethos and
• 35:14
  ideals into Bitcoin because I think the, the very idea of
• 35:17
  sound money. I think the very idea of kind of
• 35:20
  Austrian economics, I think the very idea of of of, you know,
• 35:26
  the taking away the government's ability to kind of debase the
• 35:29
  currency and kind of have this top down centrally planned type
• 35:33
  of economy. I think you can definitely make
• 35:36
  the case that that is more kind of libertarian, that is more
• 35:39
  like Austrian economics versus Kenzian economics.
• 35:43
  And I think that there are some similarities there.
• 35:45
  But I think fundamentally, Curtis, what it comes down to is
• 35:48
  just most Bitcoiners want to be left alone.
• 35:51
  Like that's really what it comes down to.
• 35:52
  It's like, look, I want to have my family, you know, I want to
• 35:55
  be sovereign, I want my money to be sovereign.
• 35:58
  I want to have the, the most important thing I think here and
• 36:01
  the reason as to why Bitcoin was created in the 1st place.
• 36:04
  And, and you feel this the most if you're in the younger
• 36:07
  generation, specifically millennials and Gen.
• 36:09
  Z ers that we are poor, our generations are poorer than our
• 36:13
  parents, right? So Bitcoin was born out of the
• 36:16
  2008 financial crisis. You know, it says in the genesis
• 36:19
  block Chancellor on the brink of the second bailout for Bank for
• 36:23
  Banks. Satoshi inherently knew that
• 36:25
  they were just going to continue printing money.
• 36:28
  And he created a system so that the average everyday individuals
• 36:32
  can protect themselves from monetary debasement.
• 36:36
  And in the process of that, essentially now for the first
• 36:41
  time, if you're in the lower middle class and you're earning
• 36:44
  and saving in Bitcoin, you have the ability to save for the
• 36:48
  future. That that's beautiful, right?
• 36:51
  And I think that's really what it comes down to rather than the
• 36:54
  traditional, what I call Fiat politics of the left and right
• 36:58
  of, you know, these both opposing political parties
• 37:01
  really fighting over who gets to control the money printer.
• 37:05
  That's my opinion. Well, you're, you're calling out
• 37:08
  a Bitcoin as, as middle class money.
• 37:11
  That really resonated with me. And like, you know, that where,
• 37:14
  where I live in the communities outside of Bitcoin that I'm
• 37:17
  involved in, it is, it is a lifeline.
• 37:19
  It's the ability to move the, the value created through my
• 37:23
  labor into the future. I just want to be able to
• 37:26
  protect and provide for my family into the future.
• 37:29
  And when my government prints money at 8 to 10% a year that
• 37:33
  they're they're stealing directly from me.
• 37:36
  Absolutely, 100% and, and, and in a way, Curtis, I would even
• 37:41
  make the argument that it's a silent protest, you know,
• 37:45
  because you're not, you know, this isn't, this isn't a, you
• 37:48
  know, you're not going out there and with picket signs and you
• 37:52
  know, you going out there, you're basically saying, you
• 37:54
  know what, I, I, I don't wish to participate in this system.
• 37:58
  I'm going to opt out and I'm going to opt out into Bitcoin.
• 38:00
  I think that's really what it what it boils down to, so.
• 38:04
  Anyways, Opti, yeah, I mean, look, I I'm probably the
• 38:09
  extremist here on the show, but yeah, I believe in small
• 38:14
  government. I think that the reason that the
• 38:17
  government is as bloated as it is, the reason we're seeing so
• 38:20
  many problems from the federal government is because they are
• 38:23
  backed by the money printer. And, you know, I think we should
• 38:26
  go back, what's the mean, like go back to tradition and try to
• 38:30
  have as small a government as possible without the tool or the
• 38:34
  weapon, if you might say that, of the money printer to get away
• 38:37
  with a lot of the stuff that the population doesn't agree with.
• 38:40
  And so, yeah, I'm a small government maxi here.
• 38:43
  I think the federal government's been bloated, way too big.
• 38:47
  And it's all fueled by the money printer.
• 38:48
  And I think Bitcoin is that valve.
• 38:50
  And, you know, maybe not in our lifetimes, but hopefully in our
• 38:55
  lifetime, we will see the federal governments are all
• 38:57
  governments of the world start to shrink once the money printer
• 39:01
  power starts to dwindle. And I, I, you know, we're in the
• 39:03
  beginning of this, but I am hopeful that it's going to
• 39:07
  happen. But yeah, I'm, I'm the extremist
• 39:08
  here. I'm, I'm the one like, yo, I, I
• 39:10
  don't think I'm a full anarcho capitalist because I think that
• 39:13
  also does come with some, some trade-offs.
• 39:16
  But yeah, I would like to minimize governmental power.
• 39:18
  Obviously. I, I'm definitely an
• 39:20
  individualist in that concern. All right, Nico, let's get into
• 39:25
  the news. We do have a lot to talk about.
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  right guys 11 quick update just because I think it would be
• 41:53
  remiss if I didn't if I didn't talk about this on today's show,
• 41:56
  but yesterday remember yesterday I talked about the ETFs in the
• 41:59
  news as well. They had incredible amount of
• 42:02
  inflows. Well, today actually rather at
• 42:05
  at the end of the day, it it became very clear that Bitcoin
• 42:10
  is by far the best ETF launch ever.
• 42:13
  And so BlackRock Bitcoin ETF has now surpassed its gold ETF in
• 42:18
  assets in just ten months. I think that's more signal of
• 42:21
  what we've been talking about that institutional capital like
• 42:24
  the meme institutions are here, they are here and they want
• 42:27
  Bitcoin. They are going, you know, head
• 42:31
  first into Bitcoin. So you can see the numbers here.
• 42:33
  The BlackRock ETF just passed, what is this 33 billion and the
• 42:39
  gold ETF, their gold ETF is at 32.9 billion.
• 42:42
  So those numbers are only going to increase.
• 42:45
  I just wanted to touch on that real quick.
• 42:46
  And another news story that I'm updating you on is we did a
• 42:50
  video, I think it was Wednesday about ever since Trump got
• 42:54
  elected, that the global hash word, the global race to adopt
• 42:57
  Bitcoin is starting to take hold.
• 43:00
  And now everyone has to take Bitcoin seriously.
• 43:03
  Now I'm not going to play this video for you guys because, you
• 43:05
  know, I don't speak Chinese. I I don't think our audience
• 43:08
  speaks Chinese, but there is a clip apparently going around
• 43:12
  from the China Central TV talking about the Trump
• 43:16
  announcement of the Bitcoin strategic reserve stockpile.
• 43:19
  And so you can see that the trend is waking up.
• 43:23
  And here we have a grok, you know, summarization of this and
• 43:26
  shout out to Nolan for doing a clip of this.
• 43:28
  And his tweet just goes just think about it.
• 43:30
  Trump's strategic Bitcoin reserve trended in China and
• 43:33
  caused it to trend globally. There's no way you're bullish
• 43:36
  enough. And we literally said this
• 43:38
  Wednesday, what's the meme, Nico?
• 43:39
  Get your Bitcoin news. Get tomorrow's Bitcoin news
• 43:42
  today. And once you understand how the
• 43:44
  game theory plays out, it it things become a little easier to
• 43:48
  predict. Anyways, here's the growth
• 43:50
  summarization of this headline. Trump's crypto strategy sparks
• 43:54
  international interest Following Donald Trump's recent
• 43:57
  presidential election victory, report from Chinese media
• 44:00
  outlets, including China's central TV, have highlighted his
• 44:03
  campaign promises to position the United States as the global
• 44:07
  leader in cryptocurrency. These reports mentioned Trump
• 44:11
  Trump's intention to make the US the world's crypto capital and
• 44:15
  to establish a strategic Bitcoin reserve aiming to significantly
• 44:19
  influence the global crypto dynamics.
• 44:21
  The validity and implementation timeline of these promises still
• 44:25
  remain speculative, but it's happening and the conversation
• 44:28
  is happening. I literally said on Wednesday
• 44:31
  that since Trump got elected and this Bitcoin strategic stockpile
• 44:36
  is, is seemingly becoming a reality that every other nation
• 44:40
  in the world, all of China, you know, all of Russia, they all
• 44:43
  have to take Bitcoin very seriously.
• 44:46
  Now, we all know 2021 got stomped because of the China
• 44:49
  Bitcoin banner. At least that's kind of our
• 44:51
  theory here on the show. But we've also seen that in
• 44:54
  recent times, China's kind of, you know, tiptoeing back in,
• 44:57
  there's a Hong Kong Bitcoin ETFs.
• 44:59
  And then further, we've seen that Russia now has legalized
• 45:01
  Bitcoin mining. You know, they're talking about,
• 45:04
  hey, you can use Bitcoin in our country.
• 45:06
  So you can see that the global Bitcoin race is taking off.
• 45:10
  And so, hey, look, the US has what about a month or so to
• 45:14
  implement this Bitcoin strategic reserve stockpile.
• 45:17
  Of course, there's a lot of conversations of the actual
• 45:20
  technicalities of how this is going to play out, whether Trump
• 45:24
  is actually going to fulfill on his promises.
• 45:27
  You know, Cynthia Lummus came out yesterday and reaffirmed
• 45:30
  that they are trying to do a Bitcoin strategic stockpile.
• 45:33
  So there's still there's still a lot of uncertainty are
• 45:36
  surrounding the US and whether they're going to adopt Bitcoin,
• 45:39
  whether it's even a good thing. But you can see that the
• 45:42
  conversation is happening now. And China for all the what, how
• 45:46
  many, how many obituaries has China had like 180 something
• 45:50
  times they banned Bitcoin. Now since the US is at least
• 45:55
  talking about it, it's becoming almost a real thing.
• 45:58
  Every country in the world now has to take this idea, a Bitcoin
• 46:01
  strategic reserve, a Bitcoin strategic stockpile very
• 46:04
  seriously. And we know the numbers here.
• 46:07
  the US holds around 210,000, China holds around 190,000
• 46:11
  Bitcoin. So it really is, you know,
• 46:14
  winner takes all here. Yes, El Salvador made Bitcoin
• 46:17
  legal tender. Yes, they have a Bitcoin
• 46:19
  strategic stockpile, but let's not forget GDP is like what, 32
• 46:23
  billion? That's not even in like the top
• 46:25
  100 of corporate big corporations in the US.
• 46:29
  So once we see one of these big one of the big GDP's one of the
• 46:33
  larger nations in the world really take Bitcoin adoption
• 46:36
  seriously there, there might be too big of a head start to turn
• 46:40
  the ship. And it's becoming very
• 46:41
  interesting that you're seeing this play out.
• 46:43
  It's not just as bitcoiners speculating, they're talking
• 46:46
  about it. You see this hitting China's
• 46:48
  television network. So the Trump announcement, the
• 46:52
  Trump election is starting to make waves.
• 46:55
  The Trump effect is in full effect.
• 46:56
  You know, Trump pump happening soon.
• 46:59
  We're we're looking like it's just it feels so good winning.
• 47:02
  What was the mean Manico? You're going to get tired of
• 47:05
  winning so hard. I'm, I'm not, it's for Trump,
• 47:08
  but I'm just getting tired of winning so hard as a Bitcoiner.
• 47:10
  We're able to predict the future.
• 47:12
  The price is pumping. We're in price discovery mode.
• 47:14
  Man, it feels so good being a bitcoiner.
• 47:17
  Like if you're new to the show, you need to start stacking
• 47:21
  Bitcoin very seriously and aggressively.
• 47:24
  If you've been around for a while, you're like, yeah, I know
• 47:26
  I knew this was going to happen. But, you know, here's some more
• 47:28
  validation here. We're winning so hard.
• 47:31
  Anyways, let's pass it to Curtis because I see you laughing.
• 47:33
  Having a good time over there. What's your thoughts on the
• 47:35
  fact? I mean, let's let's do the Trump
• 47:38
  Bitcoin strategic reserve announcement and that it's
• 47:40
  making global interest like it's it's trending globally right
• 47:44
  now. So man, are we going to see this
• 47:46
  happen in the US or will another country kind of leapfrog and
• 47:50
  announcer own Bitcoin strategic reserve strategy?
• 47:53
  You, you see, you see me laughing out of just giddy
• 47:57
  enthusiasm for being being around you Opti like I do not
• 48:02
  have enough Bitcoin. That's what my that's what my
• 48:04
  overall issue is. You know, I think it is game
• 48:07
  theory. It's it's exactly as you, as
• 48:10
  you've laid it out. If other countries believe that
• 48:13
  the United States is going to pivot its, you know, financial
• 48:17
  system and develop a Bitcoin strategic reserve, they have to
• 48:22
  do the same thing and, you know, as fast as we do or at the same
• 48:25
  time. So you would certainly expect,
• 48:27
  you know, you know, Nico mentioned it earlier.
• 48:29
  Is NGU right number go up. I I, I, I think that, you know,
• 48:34
  I saw in the comments that a dollar cost average and stay
• 48:37
  solvent. And we we all need to just
• 48:40
  continue to get more Bitcoin because there's going to be a
• 48:42
  point when it'll be out priced and we won't be able to to to
• 48:47
  afford more of it. Totally, 100%.
• 48:50
  We say that every single time and and it may becomes truer
• 48:53
  even when the price starts to pump because everyone gets crazy
• 48:56
  and they're like, I'm remortgaging my house.
• 48:59
  I'm selling everything to stack more stats.
• 49:02
  And it's like, hey, love it. I love the enthusiasm, but stay
• 49:05
  humble, stack stats, stay solvent, make sure you pay your
• 49:08
  bills, You know, make sure you don't over leverage yourself
• 49:11
  because I've seen a lot of friends get hurt doing that.
• 49:13
  Just stack SAT and stay humble. This is the way.
• 49:16
  Anyways, Nico, what's your thoughts on actually you can
• 49:19
  touch both the ETF. Actually, let's not talk about
• 49:21
  the ETF. I think we're bored of the ETF
• 49:23
  at this point. I just wanted to update people
• 49:24
  on that. But that we've been talking
• 49:26
  about this throughout the year and especially since Trump came
• 49:30
  out, just how the game theory has shifted ever since Trump has
• 49:33
  announced his pro Bitcoin stance.
• 49:35
  You know, we've seen it on the left and right aisle and now
• 49:38
  we're seeing it on the nation state level like it's heating
• 49:41
  up, man, 2025 is going to be explosive.
• 49:43
  Maybe it maybe the bull run's going to last longer than 2025.
• 49:45
  I don't know. Super cycle.
• 49:47
  Are we hearing super cycle? I don't know Nico, what's your
• 49:51
  thoughts? Yeah, I mean it, it's it's it's
• 49:54
  surreal. But first, I do want to give a
• 49:56
  shout out to the 1500 of you guys watching live between
• 50:00
  YouTube Rumble Annex. So make sure to smash that like
• 50:03
  button really, really helps with the algos.
• 50:05
  I mean, let's see, let's see if it happens.
• 50:08
  I give it a, there's a Polli market.
• 50:11
  Did you know that OFTI, there's a Polli market.
• 50:13
  Odds on it right now it's at 27%.
• 50:16
  So, and the reason for that is so Trump has a, for anyone who
• 50:23
  doesn't follow American politics.
• 50:25
  So Trump has a slight majority in the Senate.
• 50:28
  Looks like it's going to be like 53 Senate seats and he has a
• 50:32
  slight majority in the House. So you need a 218 seats to have
• 50:36
  a majority in the House. He's going to have about, it's
• 50:38
  estimated he's going to have about 222 in the House.
• 50:42
  All you need for regulation to get passed is a majority in the
• 50:46
  Senate. However, there's something
• 50:48
  called the filibuster. And what tends to happen is if
• 50:52
  the opposing political party doesn't agree with a certain
• 50:55
  law, they can filibuster it. And you actually need 60 votes
• 51:00
  to overcome the filibuster. The Republicans only have 53.
• 51:03
  So it, you know, that's all kind of intended to protect the
• 51:07
  minority when the majority is in power.
• 51:10
  So it's, it's Trump is not going to be able to pass legislation
• 51:17
  without some type of collaboration with the
• 51:21
  Democrats. Now, the good news is that the
• 51:24
  Democratic Party as a whole is not monolithic.
• 51:28
  And there are Democratic senators that are a pro Bitcoin.
• 51:34
  And there is actually a, a, a piece written by Trey Walsh.
• 51:38
  Trey Walsh is the host of the progressive Bitcoiner podcast.
• 51:42
  And he made the case that, you know, the the Democrats need to
• 51:47
  accept Bitcoin and adopt Bitcoin in order for the party to
• 51:50
  survive. And what what I would say is,
• 51:53
  you know, you had Ro Khanna with Ro Khanna as a congressman from
• 51:57
  California from the Democratic Party.
• 51:59
  And he spoke at the Bitcoin conference.
• 52:01
  So again, Trump's not going to be able to just shove in
• 52:06
  legislation because he has a majority.
• 52:10
  He's going to have to reach across the aisle and try to
• 52:14
  negotiate. That being said, I still think
• 52:17
  that he can do a lot from the executive branch through
• 52:23
  executive orders. But those, those are temporary,
• 52:27
  right? And those could also be
• 52:29
  challenged legally as well, even though he does have a mandate
• 52:33
  now that because he won the popular vote.
• 52:35
  So, you know, I'm really interested to see what he's
• 52:38
  going to do. I think that he has two years
• 52:42
  specifically to really get as much legislation done as
• 52:46
  possible because from a historical perspective, the
• 52:50
  incumbent party tends to lose control of the House during the
• 52:54
  midterms. So the midterms are about two
• 52:56
  years from now. So I'm very, very bullish on a
• 52:59
  Trump presidency. I think it's going to be very
• 53:01
  positive in terms of getting the executive branch and the
• 53:05
  judicial branch of government off our backs, which is great.
• 53:10
  It's going to give us breathing room for the next 4 years, which
• 53:14
  is very, very bullish. But in terms of legislation,
• 53:17
  which is what is going to what is going to be needed in order
• 53:21
  for a Bitcoin strategic reserve, I agree with the Poly market ads
• 53:27
  27% because he's going to have to reach across the aisle.
• 53:30
  He's going to have to convince 7 Democratic senators to sign off
• 53:37
  on that bill, right? So Curtis.
• 53:41
  I see. You know, I'm not incredibly
• 53:44
  bullish on the United States government doing anything, even
• 53:47
  with Donald Trump and the Republicans having control of
• 53:50
  both houses. However, I'll put beside the the
• 53:54
  Bitcoin strategic reserve. And Trump is not alone.
• 53:57
  Senator Lummus, is it it? She gets this inherently in her
• 54:02
  heart and she is championing it as a massive and real cause.
• 54:05
  And she has bipartisan support with, you know, Senator
• 54:09
  Gillibrand. I, I think that if, if you have
• 54:12
  the support of the president and of the House, I, I think that
• 54:16
  the Senate is completely capable of coming along.
• 54:20
  So I'm, I'm optimistic. I haven't seen the polymark
• 54:23
  itself. So, yeah, and, and I agree
• 54:25
  there, there is support, but you know what's what's what's really
• 54:29
  there. There's something beautiful
• 54:30
  about this, Curtis, is that we're going to find out which
• 54:34
  senators are opposed to the Bitcoin movement.
• 54:38
  That's what's going to be exposed.
• 54:40
  But yes, you can pass a law technically with the majority in
• 54:44
  the Senate, but they can filibuster it.
• 54:47
  And if they do filibuster it, he's going to need 60 votes in
• 54:51
  order in order for that legislation to end up on Trump's
• 54:54
  desk for him to sign it. Hey, you, you mentioned 1500
• 54:59
  viewers that that's amazing. I just want to compliment your
• 55:01
  your incredibly nuanced and detailed understanding of
• 55:04
  American politics and the way you related.
• 55:06
  This is just a pleasure to be on your guys's show today,
• 55:08
  gentlemen. Well, I appreciate it, Curtis.
• 55:11
  Thank you so much for joining us.
• 55:12
  And we just broke 1600 live viewers, so the live viewers are
• 55:16
  ticking up. Guys.
• 55:17
  If you guys are enjoying the show so far, make sure to smash
• 55:19
  that like button stick around because we're going to talk
• 55:22
  about all things compass mining. We have Curtis here today and
• 55:26
  we're going to ask him all these questions about compass, about
• 55:29
  hosting, all this good stuff. So stick around everybody.
• 55:32
  Let's hit the culture. Here we go.
• 55:45
  All right, everybody, I do want to give a shout out to our
• 55:47
  sponsor, the Orange Pull Apps Stack Friends who stack sats.
• 55:53
  The Orange Pull app is a great resource for when you're on the
• 55:56
  go. So let's say you're traveling,
• 55:58
  you're going to a new city for a conference.
• 56:01
  Let's say the conference is only two days, but you're there for
• 56:03
  seven days. What do you do those other days
• 56:05
  you pull up? The Orange Pull app has a really
• 56:08
  clever geographical feature and it will show you the Bitcoiners
• 56:11
  that are near you and it gives you the ability to send them a
• 56:14
  message message directly so that you can connect with them.
• 56:18
  It's also the number one resource for Bitcoin only
• 56:21
  events. So if you're again, you're
• 56:23
  travelling, you're going to a conference, perhaps you've been
• 56:25
  in your city for a while and you just don't know any Bitcoin or
• 56:28
  events near you. The orange pull app is for you.
• 56:31
  So to get started, scan the QR code, check the link in the
• 56:34
  video description and join the 13,590 bitcoiners that are
• 56:40
  currently on the app has it also a really clever filtration
• 56:43
  system. So you will not not find spam on
• 56:46
  the application. You'll only find fellow
• 56:49
  bitcoiners. All right, everybody, let's
• 56:51
  start out let's start off this conversation with Curtis.
• 56:54
  Curtis is with Compass mining. Compass mining is one of our
• 56:59
  partners. Like I said, we're very, very
• 57:00
  picky on who we who we decide to partner with at simply Bitcoin.
• 57:05
  And the mission of Compass mining is to get everyone now
• 57:10
  everyone can mine Bitcoin. That's what Compass is all
• 57:14
  about. It's kind of like a turnkey
• 57:15
  solution. If you're interested in mining
• 57:17
  Bitcoin, a lot of people understand specifically now, not
• 57:23
  so much in the, in the in the early days.
• 57:27
  Mining is very energy intensive and what tends to happen is if
• 57:32
  you, you know, residential energy costs.
• 57:35
  Oh, sorry, I just, if you bring that up again, energy, energy is
• 57:41
  mining is very energy intensive. What happen is if you mine at
• 57:44
  home, you're not going to get industrial rates for
• 57:48
  electricity. You're going to get residential
• 57:50
  rates. Those are significantly more
• 57:52
  expensive, especially if you live in certain states.
• 57:55
  I live in Florida. It's about 12 to $0.14.
• 57:58
  For it to be economical for you to mine, it needs to be lower
• 58:01
  than that. And that's where compass mining
• 58:03
  comes in, right? So they give you these lower
• 58:06
  rates in electricity and it's also turnkey.
• 58:09
  So you buy the miners within a couple, within a couple days,
• 58:14
  bada Bing, bada boom, the miner is up and running and you're
• 58:17
  receiving those sweet, sweet, sweet Satoshi's.
• 58:20
  So if you're interested in mining, but you're looking at
• 58:23
  it, you know, the compass mining is a great way to to get
• 58:28
  started. So is that a good pitch, Curtis?
• 58:32
  Oh my goodness, we, we, we got to add those sweet, sweet, sweet
• 58:36
  Satoshi's to our, to our marketing material because that
• 58:40
  just that just drips that you, you did, you did great, Nico.
• 58:44
  It was it, it was actually a lot.
• 58:46
  You know, you mentioned us being partners.
• 58:48
  It was actually a lot of fun to be in the show when our ad was
• 58:52
  read earlier. We're, we're just incredibly
• 58:55
  happy to be here and to be a part of your, your community and
• 58:59
  your audience. We, we did pioneer and invent
• 59:03
  that Bitcoin mining hosting model that you just described
• 59:08
  because it is hard. The as as Bitcoin mining the
• 59:11
  industry, you know grew, the machines became so much more
• 59:18
  louder and hot and used a lot of electricity that it really just
• 59:23
  became unreasonable for most people to operate a Bitcoin
• 59:28
  mining machine in their house. So what we what we were able to
• 59:31
  do is we invented a business model where we aggregated you
• 59:35
  and I owning one or two or three or five machines.
• 59:39
  And we were able to, you know, put us all together as a large
• 59:42
  group and deploy into these massive facilities where we do
• 59:46
  get the low cost energy, which helps us to be able to stack
• 59:50
  those sweet, sweet, sweet Satoshi's.
• 59:53
  Absolutely, absolutely. And I, I, I kind of want to talk
• 59:55
  about this like turnkey aspect of it, right?
• 59:59
  Listen, IIA, lot of people don't know this about me.
• 1:00:02
  I actually got into the industry via mining.
• 1:00:05
  I transitioned to media in 2020 but actually got into the
• 1:00:09
  industry in mining back in 2620, 2016, 2017.
• 1:00:13
  And you know that there is a room in my house that I
• 1:00:15
  literally, you know, I had a sliding door and I put a dry
• 1:00:19
  panel wall in there and I made holes in that dry panel wall.
• 1:00:23
  And I would, you know, buy these 3D printed vents that you would
• 1:00:28
  screw into the back of the S nine.
• 1:00:30
  So the hot air would, you know, get out.
• 1:00:33
  And I had a whole closet. I think I had like 14S nines in
• 1:00:36
  there. And you can hear this mining
• 1:00:39
  thing from anywhere around the house.
• 1:00:42
  But what tended to happen very quickly is I started getting the
• 1:00:48
  power bills and it was great because it was 2017, you know,
• 1:00:52
  we went from 1K to TO20K and it was phenomenal.
• 1:00:58
  I thought it was a genius. I would buy an S 9 three months
• 1:01:01
  later. This never happens with
• 1:01:02
  hardware, hardware to values. The price would go higher and
• 1:01:05
  I'd be like, wow, I'm a genius. And then 2018 came around and
• 1:01:09
  man, oh man, did I unplug those very, very quickly.
• 1:01:14
  Now, you know, in hindsight, I wish I stuck it out because that
• 1:01:18
  would have been great, but I didn't.
• 1:01:20
  But the point I'm trying to make is when I set up a mine at home,
• 1:01:25
  I quickly realized, first of all, it's not scalable.
• 1:01:29
  There's only so many amps that you can get to your house.
• 1:01:32
  Second of all, it starts to look suspicious when you have these
• 1:01:36
  very thick power cables outside of your house going to a
• 1:01:40
  specific room. And second of all, you want that
• 1:01:46
  cheap electricity because that's the name of the game.
• 1:01:48
  That's where it fundamentally comes down to.
• 1:01:50
  And The thing is specifically now it's very expensive to build
• 1:01:56
  out an entire site, right? So you don't really have a
• 1:01:59
  choice like you mine at home, but you're you have very
• 1:02:03
  expensive electricity cost or you build out a site, you know
• 1:02:08
  to do it. Well, it's going to at least 100
• 1:02:10
  thousand $250,000 all the electrical infrastructure.
• 1:02:14
  This is where Compass mining comes in because essentially it
• 1:02:19
  lowers the barrier of entry, right?
• 1:02:21
  You want to start mining Bitcoin, You don't have to spend
• 1:02:25
  $250,000 to buy a site. You know, you don't have to get
• 1:02:28
  wrecked mining at home, paying those residential costs.
• 1:02:32
  And I live in Florida, right? California and New York, you're
• 1:02:35
  toast. Forget about it's like $0.24 per
• 1:02:39
  kWh. Forget about it.
• 1:02:40
  It's it's not going to happen, right?
• 1:02:42
  So this is where Compass comes in.
• 1:02:45
  You want to mine, you want to mine Bitcoin.
• 1:02:48
  You you turn to these guys to turn key solution and Bada Bing
• 1:02:53
  bada boom purchased the miner and it's it's hashing within how
• 1:02:57
  how many hours Curtis is it 2448?
• 1:03:00
  48 That's right. Awesome awesome.
• 1:03:03
  I know that you guys also because this is another another
• 1:03:06
  thing that I ran into as well personally, which is part of
• 1:03:11
  Bitcoin mining is not only, you know, setting up the machines
• 1:03:14
  plugging them in part of Bitcoin mining as well is selling the
• 1:03:20
  machines, right? And here's the thing that's not
• 1:03:24
  easy eBay. Holy cow, I had nightmares.
• 1:03:28
  You guys have an incredible marketplace where it makes it
• 1:03:31
  incredibly easy to sell the machines whenever the client
• 1:03:35
  wants to and the client doesn't have to get their their hands
• 1:03:38
  dirty. They don't have to do anything.
• 1:03:40
  It's just they go to the marketplace, you know, they sell
• 1:03:43
  their machine, they could, you know, they could buy the
• 1:03:45
  machine. Could you take, could you talk a
• 1:03:47
  little bit about the Compass Mining Marketplace and Opti?
• 1:03:51
  If you can, could you pull that up so everyone can?
• 1:03:54
  Just I, I, I will talk about it. I, I hope we actually get a
• 1:03:59
  chance to talk more about several things.
• 1:04:01
  I'm excited to hear about your your mining with S nines back in
• 1:04:05
  2016. I, I'm I'm mine.
• 1:04:08
  I'm mine at home. I repurpose the heat.
• 1:04:11
  I pay for more, more expensive electricity.
• 1:04:14
  Us bitcoiners are ruthless. We'll do crazy things, but you
• 1:04:18
  know, Sailor says to buy Bitcoin, to mine Bitcoin and to
• 1:04:24
  invest in Bitcoin mining companies in that order.
• 1:04:27
  So, you know, I always start with, if you're investing in
• 1:04:30
  Bitcoin, you should be buying it, right?
• 1:04:32
  But then once you've already adopted Bitcoin as an ethos and
• 1:04:35
  you're looking, how do you get more, You're going to quickly
• 1:04:38
  discover that mining Bitcoin is often one of the cheapest ways
• 1:04:42
  to acquire Bitcoin. You can create Bitcoin at a
• 1:04:45
  lower cost and you traditionally are able to buy it at spot.
• 1:04:49
  And then there's this, the unique thing that probably this
• 1:04:52
  audience gets is that when you mine Bitcoin, you're acquiring
• 1:04:55
  non KYC SAT. So when you're mining directly
• 1:04:59
  to your wallet, you didn't acquire that Bitcoin through an
• 1:05:02
  exchange. You didn't have to give any of
• 1:05:04
  your information to Jerome Powell or or whoever the the the
• 1:05:08
  next president is. And I think that's really
• 1:05:10
  attractive. You're, you're asking about our
• 1:05:13
  marketplace, which we, we invented that a couple years
• 1:05:16
  ago. It's actually just been a
• 1:05:17
  phenomenal tool for our customers for onboarding and
• 1:05:21
  offboarding from different generations of machines.
• 1:05:24
  The idea that you can have a Bitcoin miner and ASIC that's
• 1:05:28
  sitting there, it's running, it's been running in one of our
• 1:05:30
  facilities for a couple years. All the Bitcoin directly to your
• 1:05:33
  wallet. You've been paying a monthly
• 1:05:35
  electricity bill, but now there's a new generation of
• 1:05:38
  machine. It's more efficient.
• 1:05:39
  You want to upgrade your fleet. So what do you do with that old
• 1:05:43
  machine? Do you have U.S. box it up and
• 1:05:45
  send it to you And now you're going to sell it on eBay just
• 1:05:47
  the way you you mentioned? No, you're actually able able to
• 1:05:50
  resell that machine running in its existing place to a new
• 1:05:55
  customer. So now you're typically selling
• 1:05:57
  it for less. You mentioned sometimes machines
• 1:05:59
  do go up in value. We saw that on our marketplace
• 1:06:02
  two years ago. But right now what you see is
• 1:06:05
  that you can, you can go on our marketplace and buy a, a Bitcoin
• 1:06:09
  mining ASIC for a few $100 and dip your toe into that
• 1:06:13
  experience of starting to have those Satoshi's come directly
• 1:06:16
  into your wallet. I think that's a phenomenal
• 1:06:19
  benefit of the marketplace on top of what you led with is that
• 1:06:22
  when it it lets you also have a way to exit.
• 1:06:25
  It's just very phenomenal system it it lets you mine Bitcoin and
• 1:06:30
  then when you're ready to upgrade to a more efficient
• 1:06:33
  fleet, you just sell it right there. 100% And another thing
• 1:06:36
  that I've all also experienced right another pain point Curtis
• 1:06:41
  is you know these these miners, they get shipped from from you
• 1:06:47
  know they get shipped from Shenzhen, they come in, you
• 1:06:50
  know, you open them bit main all that stuff.
• 1:06:52
  There is a point where they only made you buy them in Bitcoin
• 1:06:55
  Cash and they have a very particular smell when you plug
• 1:06:58
  them in initially the the fan Revs up.
• 1:07:01
  You don't know where that hash is going, Jihan.
• 1:07:05
  And yeah, some things happen, right?
• 1:07:08
  But some of these machines there, they've gotten
• 1:07:11
  dramatically better as time has progressed.
• 1:07:14
  But some of these machines tend to break and it tends to be a
• 1:07:19
  little bit of a pain. It's gotten dramatically better.
• 1:07:22
  But initially what you'd have to do if one of the boards break is
• 1:07:25
  you'd have to send that puppy back, right?
• 1:07:28
  And you would get that puppy back six months later and in six
• 1:07:31
  months, six months in mining worlds and profitability is.
• 1:07:36
  So Curtis, I know that you guys do in house maintenance and in
• 1:07:41
  house fixing of these minors. Can you talk a little bit about
• 1:07:44
  that? Yeah, it's just your vertical
• 1:07:46
  integration. What we figured out the same
• 1:07:47
  things that that you, you experience is that if, if we
• 1:07:50
  wanted to deliver the best experience for our customers,
• 1:07:53
  their machines needed to be running all the time.
• 1:07:56
  And like a, a hair dryer or toaster, sometimes even brand
• 1:07:59
  new equipment, it'll come in and it's, and it's bad or it's
• 1:08:02
  broken and you want to be able to have a good relationship with
• 1:08:05
  the manufacturer so you can just immediately warranty that and
• 1:08:08
  replace it. But then these machines sit
• 1:08:11
  there and run at a very high amount of electricity and just
• 1:08:14
  on constantly and they do sometimes have problems.
• 1:08:16
  And so the ability to repair or replace that so that you're back
• 1:08:21
  online and hashing and mining faster is phenomenal.
• 1:08:24
  The most common element to fail on a Bitcoin miner is the fan.
• 1:08:30
  And one of the things that we figured out is that our, our
• 1:08:33
  business model is we do free fan replacements.
• 1:08:35
  The, the, the challenge that we're going to e-mail you and we
• 1:08:39
  need 12 or $20 to replace a fan or that we're going to send it
• 1:08:43
  back to China to get a fan. And we're going to take six
• 1:08:46
  months. And now we've, you know, e-mail
• 1:08:48
  communications for approval. We figured out that if there's a
• 1:08:51
  fan that's failed, we simply just replace it.
• 1:08:54
  You're back, you're online, you're mining.
• 1:08:56
  And now if there's boards, we've also we've, we've gotten really
• 1:08:59
  good at technical mining repairs, in fact, that I want to
• 1:09:01
  use this as a chance to segue into something that I'm excited
• 1:09:06
  about. I'm not sure if any of your
• 1:09:07
  audience is Denver based, but next Thursday, November 14th, we
• 1:09:13
  are launching a brand new monthly Bitcoin mining meet up
• 1:09:18
  focused entirely on technical mining operations.
• 1:09:21
  So if you're a Bitcoin miner who's plugged in 1000 machines
• 1:09:25
  and you need a community to be a part of, we're starting a
• 1:09:28
  monthly meet up in Denver for you.
• 1:09:31
  And in Denver is where we have our service center, where we
• 1:09:33
  have a massive repair facility. It's our large warehouse house
• 1:09:36
  where we clean and repair and prep all the machines when they
• 1:09:39
  move from different, different facilities.
• 1:09:42
  So if you have a machine that needs a detailed repair, it's
• 1:09:46
  getting sent to our Denver service center and being
• 1:09:48
  repaired by our employees. That's amazing.
• 1:09:51
  Love it well also I want to jump in here So what we're.
• 1:09:53
  Trying to say is that it's not sent back over the Pacific
• 1:09:56
  Ocean. That's right.
• 1:09:59
  I, I don't want to dock someone, but I'm pretty sure I know who's
• 1:10:03
  going to be there. We don't have to say any names
• 1:10:06
  there, but I, I think a good friend of ours will be at that
• 1:10:09
  meet up there. So love to hear it.
• 1:10:11
  That's awesome. Absolutely, Absolutely.
• 1:10:14
  Anyway, so I do also want to talk about I want to take
• 1:10:16
  advantage of this opportunity, Curtis that you're here.
• 1:10:19
  So you guys have a a bunch of facilities.
• 1:10:22
  So the ones that I'm looking at your at your website right now,
• 1:10:25
  you have Ohio too, you have Texas.
• 1:10:28
  So the way that I'm seeing it and please step in here from I
• 1:10:31
  misspeaking, but you know, the the customer gets to choose
• 1:10:35
  which facility they would they would like to mine in.
• 1:10:39
  Is that correct? Yeah, that's right.
• 1:10:41
  So having, you know, geographical just distribution
• 1:10:45
  so that you're not, you know, locked all into one region.
• 1:10:48
  So, you know, a storm comes through Florida and now there's
• 1:10:51
  not electricity in your mind's down or there's a heat wave in
• 1:10:54
  Texas and, and now they had your curtail and you're not mining.
• 1:10:57
  So if you have the chance to have your fleet spread out
• 1:10:59
  across the country or even across the the the world or, you
• 1:11:03
  know, different jurisdictions, it provides you a certain amount
• 1:11:06
  of of stability. We've done a couple things we've
• 1:11:10
  we've pioneered a couple of score where we're showing you
• 1:11:13
  how well that facility historically performs.
• 1:11:16
  When you're looking at a facility, I'm going to have my
• 1:11:18
  Bitcoin miner there. You're you're really thinking
• 1:11:21
  about is it going to run? I think that's the biggest thing
• 1:11:23
  is they're going is that machine going to be plugged in running
• 1:11:26
  and Bitcoin coming into my wallet.
• 1:11:27
  So you look at a high amount of uptime and a high amount of
• 1:11:30
  utilization. Uptime is where it's always on
• 1:11:34
  and utilization is, is there is, is there no excuses?
• 1:11:36
  Is it plugged in? Is it running?
• 1:11:38
  Is that slot being filled as my minor running?
• 1:11:40
  And so, so we're very transparent with all of that
• 1:11:43
  information on our website. It lets our customers just make
• 1:11:45
  informed choices 100% about making you know transparent
• 1:11:49
  information available to our customers.
• 1:11:51
  That's great to hear, man. I, I love the, the, the, the,
• 1:11:54
  the freedom of choice, right? And the you, you and the compass
• 1:12:00
  score is very, very cool. I love how you guys are rating
• 1:12:04
  the the different facilities. Well, and we do that with
• 1:12:07
  machines also when, you know, every time a manufacturer comes
• 1:12:10
  out with a machine, they're always touting how efficient it
• 1:12:13
  is. But like, sometimes you don't
• 1:12:15
  know how good a machine is until you've seen them through a few
• 1:12:18
  cycles and repairs. And translating all of that into
• 1:12:22
  a score so that our customers can just easily be able to say,
• 1:12:25
  hey, this one's a 97, this one's a 91.
• 1:12:28
  I'm going to pay a little bit better for a more efficient,
• 1:12:31
  higher performing machine. Yeah, absolutely not that that's
• 1:12:35
  really that's, that's really cool that you guys, you know,
• 1:12:38
  put, put, put your put a lot of focus in that.
• 1:12:41
  Now, Curtis, I do want to ask you about something that you
• 1:12:44
  said earlier on. And I think that's something
• 1:12:47
  that people perhaps don't understand about in terms of
• 1:12:50
  what the benefits of mining is, which is this idea that you can
• 1:12:53
  get, which sounds so crazy is because if someone told you it's
• 1:12:57
  like, listen, Bitcoin's at $76,000 right now. 7770. $7000
• 1:13:03
  right now now, but there's a way for you to get it cheaper than
• 1:13:07
  that spot price. You would look at me and you'd
• 1:13:10
  be like what are you talking about?
• 1:13:13
  Well guys, the whole mining industry operates because of
• 1:13:18
  that. Do you think Bitcoin miners
• 1:13:20
  would plug in those miners if they were getting the same spot
• 1:13:23
  price? No, that that's the whole point
• 1:13:25
  of Bitcoin mining like that's you're getting cheaper sats
• 1:13:28
  that's the whole point, right. So you could you talk a little
• 1:13:31
  bit about that, Curtis, because I don't, I think a lot of people
• 1:13:34
  are aware about that, right, that mining is a way for you not
• 1:13:38
  only to acquire cheaper Sats, but also acquire KYC Sats like
• 1:13:44
  you were talking about earlier? Yeah.
• 1:13:46
  You know that, that that KYC I think is one of the huge
• 1:13:48
  elements that, you know, hardcore bitcoiners understand
• 1:13:51
  entirely. But the that that first concept
• 1:13:56
  that when you're mining Bitcoin, you're generally producing it at
• 1:13:58
  a cost that's well below spot is 100% right there.
• 1:14:02
  You know, you mentioned the Bitcoin mining industry, There's
• 1:14:04
  trillions of dollars of capital deployed into Bitcoin mining
• 1:14:07
  through sites and infrastructure and Transformers, and then all
• 1:14:11
  the millions of dollars of machines.
• 1:14:13
  And the reason you're able to put that much capital is that
• 1:14:17
  there is a return there. And that is the difference at
• 1:14:19
  the cost you can mine Bitcoin versus the cost of of spot
• 1:14:22
  Bitcoin. To speak plainly, because I'm a
• 1:14:25
  bitcoiner, I'm a pleb to speak to other plebs, you shouldn't
• 1:14:30
  have an expectation that you can come into the market one day and
• 1:14:34
  now you've made money on Bitcoin when you're mining, mining is
• 1:14:39
  just like, you know, buying Bitcoin.
• 1:14:41
  You need to be constantly in the market.
• 1:14:43
  There's going to be periods where the majority of your
• 1:14:46
  returns were all made in a seven month period.
• 1:14:50
  But if you're if your machines weren't up and running and fans
• 1:14:54
  fixed and boards repaired and they're just sitting there
• 1:14:57
  chiming during that, you're going to miss the majority of
• 1:15:01
  that value where you had an opportunity to create Bitcoin at
• 1:15:04
  a, you know, economically advantage price.
• 1:15:08
  So what you've got to do is just constantly be in the market
• 1:15:11
  mining Bitcoin and, and historically, you know, you'll,
• 1:15:17
  you'll see, I think Marathon, a publicly traded mining company,
• 1:15:21
  if you see the price of Bitcoin today is at 77,000.
• 1:15:24
  I know this was last week, so it would have been in the 60s, but
• 1:15:28
  they publicly announced that their cost to mine Bitcoin is,
• 1:15:30
  you know, roughly $33,000. So, you know, half off.
• 1:15:35
  Yeah, it's, it's, I think that's where that's where people really
• 1:15:40
  like, they don't, you know, they don't they, it's it like it's
• 1:15:44
  obvious, but it's not obvious to, you know what it is, Curtis.
• 1:15:50
  It's that there's an entire infrastructure behind Bitcoin
• 1:15:55
  that if you are just a user, it like I, I, I have a, have a,
• 1:16:00
  have a deeper appreciation of Bitcoin because I got into
• 1:16:03
  Bitcoin through Bitcoin mining. So I see the infrastructure that
• 1:16:06
  is behind the Bitcoin network and if you're just a user, you
• 1:16:11
  you don't see that right. But you know, people for if
• 1:16:15
  people you know, perhaps don't understand Bitcoin is Bitcoin
• 1:16:20
  miners is the the largest decentralized computing network
• 1:16:23
  in the world. So much computing power.
• 1:16:28
  People don't truly understand, you know, the scope of this and
• 1:16:34
  and people are asking like what secures your money?
• 1:16:36
  That that wall, that firewall of energy that is constantly
• 1:16:41
  hashing 24/7, right. So, oh man, this is you getting
• 1:16:46
  me excited talking about mining. I, I, it's.
• 1:16:49
  I want to go back. Good.
• 1:16:51
  You guys. Yeah, I've, I've said it like
• 1:16:53
  two or three Times Now. You guys have me excited.
• 1:16:55
  I'm glad there's a little bit of Mia Copa here.
• 1:16:57
  You. Yeah, this is a a fun
• 1:16:59
  conversation. So Curtis, we are getting to the
• 1:17:02
  the top of the hour. We're on the verge of breaking
• 1:17:04
  1700 live viewers. Do you have any final thoughts
• 1:17:09
  for everyone watching about Compass, about what you're
• 1:17:12
  excited about in 2025, about any upcoming releases that you guys
• 1:17:16
  are working on? Yeah, I'll, I'll, I'll be brief.
• 1:17:19
  I I'm incredibly thankful to be here.
• 1:17:22
  I'm also thankful that you've allowed compass to come and
• 1:17:25
  stand in front of your audience and to be one of your sponsors.
• 1:17:29
  I know that you are highly selective.
• 1:17:32
  We're incredibly happy to be bringing our, you know, Bitcoin
• 1:17:36
  mining, you know, product and opportunity here.
• 1:17:38
  If, if you haven't checked us out, check us out, go to our
• 1:17:41
  marketplace. I think you'd be blown away to
• 1:17:43
  see how easily you can be mining Bitcoin.
• 1:17:46
  The fact that you're mining the Bitcoin directly into your own
• 1:17:49
  wallet. There's no other custodian,
• 1:17:51
  there's no third party and that there's a variety of price
• 1:17:54
  points. I, I hope that you'll, I hope
• 1:17:56
  that you'll check us out. If you're mining Bitcoin, we
• 1:18:01
  are, we are highly competitive. We're good at it.
• 1:18:04
  It's tough to do in your house. If you'll evaluate us, we, we
• 1:18:08
  will win your business. As far as upcoming or exciting
• 1:18:11
  announcements, I mentioned the meet up.
• 1:18:12
  We're looking forward to that. We're going to be at a couple
• 1:18:14
  upcoming conferences. We'll, we'll be in in, in Texas
• 1:18:18
  for the North American Blockchain Summit that's hosted
• 1:18:20
  by the Texas Blockchain Council. And then we'll be at Bitcoin
• 1:18:24
  Magazine's MENA conference in Abu Dhabi.
• 1:18:27
  I'm personally excited about that and look for some exciting
• 1:18:30
  news next week. We've acquired our own site
• 1:18:33
  where we physically purchased the infrastructure instead of
• 1:18:36
  being partnered or hosted. So more to come, more vertical
• 1:18:40
  integration from Compass Mining. Thank you, Nico.
• 1:18:44
  Thank you, Opti. This has been a real pleasure.
• 1:18:47
  Well, thank you so much for joining us on the show, guys.
• 1:18:49
  This was simply Bitcoin. Wait, wait, Nico, before you go,
• 1:18:52
  I think you're gonna have to get the chicken handy every single
• 1:18:55
  day. Now.
• 1:18:56
  Start asking for it. Let me give context to Curtis
• 1:18:59
  though. So this is Satoshi the Bitcoin
• 1:19:00
  chicken. When I started simply Bitcoin in
• 1:19:02
  2020, you know the bull market was 2021.
• 1:19:07
  Satoshi the Bitcoin chicken would cluck every time the price
• 1:19:09
  of Bitcoin reached an all time high.
• 1:19:11
  Well, ladies and gentlemen, we just broke 77 K so.
• 1:19:15
  We're going to have to literally cluck the chicken every minute.
• 1:19:18
  We're going to have to cluck Satoshi the Bitcoin chicken
• 1:19:22
  anyways guys, this was simply Bitcoin Live for November 8th,
• 1:19:25
  2024. Your host for today is the
• 1:19:27
  legendary Optimus Fields. I'm your Co host Nico and of
• 1:19:31
  course our special guest Curtis from Compass Mining.
• 1:19:34
  Go check out Compass mining dot IO today again Compass mining
• 1:19:39
  dot IO guys, if you guys enjoy the show, smash the like button,
• 1:19:42
  consider subscribing. Enjoy the weekend.
• 1:19:45
  We will be live from El Salvador on Monday.
• 1:19:48
  So go outside, touch some grass, enjoy the family.
• 1:19:51
  Love you all see you guys on Monday.
• 1:19:52
  Peace out, everybody. Brought to you by
• 1:19:55
  bitcoinwell.com, a Bitcoin only platform on a mission to enable
• 1:20:00
  financial independence.