Latest / Simply Bitcoin / Bitcoin Mining UNDER ATTACK! Kazakhstan Seizes $200M Bitcoin Miners | EP 450

Transcript

Bitcoin Mining UNDER ATTACK! Kazakhstan Seizes $200M Bitcoin Miners | EP 450 · Simply Bitcoin

0:00
I don't believe sufficient ever have a good money against before
0:04
we take something out of the names of governments.
0:07
Welcome back everyone. We're simply Bitcoin.
0:09
We break down the news. The daily failed mean review.
0:12
Software releases Hardware releases and the websites by
0:16
plebs joining us today fellow Bitcoin ER and toxic pleb kiwi
0:23
hottel. We are diving into the numbers
0:25
Nico. Let's do it.
0:26
Not Brought to you by Bitcoin 2022, it's gonna be the largest
0:30
Bitcoin conference ever, April 6th and 9th.
0:34
That's right. It's coming up.
0:35
Get your tickets quickly before the price goes up.
0:38
The speaker list is nuts. You have nine buchelli.
0:41
You have Michael sailor. You have say 15 you have Adam
0:44
back. You have Jack, modders sent,
0:46
Senator lummis, dr. Jordan Pederson, as going to be
0:50
absolutely Bonkers, Phil and I are gonna be on a panel as well,
0:53
and you can take advantage of the link down below for 10% off
0:55
your tickets to bitcoin 2022. at the time of this recording, the
0:59
block height is seven hundred twenty seven thousand four
1:01
hundred seventy seven the Bitcoin price $39 and 575 chain
1:06
rewrite day, 772 total public lightning capacity, 3500 1.13
1:13
Moscow time 25 27 blocks to The Happening 112,000 523 and the
1:20
samurai Whirlpool unspent capacity, Samurai Whirlpool is a
1:26
coin or Or collaborative spend service, not a mixing service.
1:32
Anyways, the unspent capacity in that pool is 4418. 0.58 Nico,
1:40
the numbers and the Very controversial controversial
1:44
collaborative spend numbers. Yeah, bro, I do dates funny, we
1:48
had people in the comments, like Nico called.
1:50
It's like guys, like look it it's just like, think about how
1:54
it's going to play out. Right Bitcoin, takes away power
1:57
from Governments. Right.
1:58
What are they gonna do? They're gonna go after it.
2:00
So, like, it's not like a fucking genius, or have a
2:03
crystal ball. It's just like, that's clearly
2:05
what's gonna happen? The reason that Bitcoin has been
2:07
so ignored and all these coin, join services, and whatever has
2:11
been ignored for so long. Right?
2:13
I remember, remember back in 2017 Phil, where you can
2:17
withdraw like you know, whatever you want off an exchange and
2:20
they wouldn't ask you to send you a proof of proof of funds
2:23
and all these things guys. Bitcoin has cross this
2:27
threshold. It holds where it crossed the
2:29
Rubicon. Now, it's becoming a major
2:31
player. It's transitioning to become a
2:33
major player and by doing so, because it's money, right?
2:37
It's taking power away from nation states in the process
2:41
which means they're obviously going to fight it right?
2:43
That's what's going to happen. So Phil keep saying that unspent
2:46
capacity until we can't anymore until they officially make it
2:51
illegal because you want privacy and it's not even it's not even
2:55
it's not even a mixing service. Enjoying right?
2:58
It's all its independent individuals deciding to you
3:03
know, put their funds together. There's no centralized entity,
3:07
right? So it's just, it's fucking
3:09
bullshit. Anyways, I get upset talking
3:11
about it. Anyways, to talk what it's very
3:15
interesting, what I have today, a little bit of Hope IAM.
3:18
It's not it's not what your usual, dose of Hopi.
3:21
Mm, it's slightly different, but I thought this was really
3:24
interesting. This article came out three days
3:27
ago. Go it says Mega Awakening whale
3:30
transfers 429 sleeping Bitcoin from 2010 worth over sixteen
3:36
point eight million dollars. Now this is what the fuck are
3:41
you talking about? This is noise.
3:43
This is interesting. This is interesting.
3:45
Keep I see Phil's face and he's disappointed.
3:47
I can see I could feel the Canadian disappointment through
3:51
the screen. There's that's the thing
3:53
Canadians when they're disappointed in you, at least.
3:55
This is what Phil does they say? Sorry, instead of you're wrong,
3:59
this is bad Nico but the face reveals everything.
4:03
Anyways, I thought this was interesting because check this
4:08
out. This is the power of
4:09
houghtaling, write the transfer stemming from the Bitcoin
4:12
address. The starts with the one was
4:14
approximately 489, Bitcoin, .09. One, the largest transfer was
4:19
caught by the blockchain, but blockchain parser BTC parser.com
4:23
when it was processed at block height, seven hundred twenty six
4:25
thousand on March. Tenth right now.
4:28
Let's just take a look at what the price of Bitcoin was back in
4:32
2010. This from Investopedia Bitcoin
4:35
had a price of zero when it was introduced in 29 and 2009 on
4:40
July 17, 2010 its price jumped 29 cents, nine fucking sense,
4:48
Bitcoins price rose again on April in April 2011, from a
4:52
dollar to 29 to $29. So, When this dude bought that
5:01
489 Bitcoin, that is now Worth 16 million dollars.
5:07
He bought each and one of those Bitcoins for roughly nine cents.
5:11
Let's let's, let's be conservative, let's say it was a
5:13
dollar, right? He bought those Bitcoin for $489
5:18
today. They're worth 16 million.
5:23
That is the power of haughtily. And here's the thing.
5:25
This is something that you don't see when you're especially in
5:30
the beginning. In the beginning it's very
5:32
difficult to see the power of haughtily.
5:35
Phil and I, we've been doing this for five, six years.
5:38
Now, you start to feel it. Feels nice, right?
5:43
You start to see the right, you start to unplug yourself from
5:48
the Fiat Matrix, a lot of the problems and all of the things
5:52
that you Worried about, you know, denominating and Fiat
5:56
start to disappear. They start to go away your
5:59
psychology and proves right? But again you know the the ever
6:04
it's very easy to hot oil on paper.
6:08
But going through it is extremely difficult.
6:11
And the way that you do it is to really learn more about Bitcoin
6:16
because by learning more about Bitcoin.
6:18
You realize that there really is no other alternative to stay to
6:22
save wealth without fear of confiscation and fear of
6:25
debasement, right? So, anyways, you know, of
6:30
course, you could always buy physical gold but, you know, try
6:34
taking that with you all your life rights, but it's a lot
6:36
easier to develop. Yeah, I thought it's Miriam was
6:39
ultrasound money though. Ha ha ha Matt.
6:42
Yeah, I mean whatever, bro, if you want to get wrecked, if you
6:46
want to buy vitalik coin like, you know, go for it but we're we
6:51
have the pendant lights on. Yeah.
6:53
Well, we have a cape for Bitcoin something that no one has
6:56
influence or controls or any of that.
6:58
So yeah, I just want to pull that up, you know.
7:00
I know it's a little bit of Hope IAM Phil.
7:02
I know, it's a little bit as a little bit of BS, but I think it
7:05
really highlights the power of hotter Lee, could you imagine
7:09
that guy, bro? He's like, let me just you know
7:11
this is fun, Ten Years Later, 16 million dollars like and then
7:17
the guy who lifts USB and his attic and his sons like taping
7:21
him while he pulls the USB out of the sky.
7:24
It could be, it could be, you never know.
7:26
The the it had to be one of the ogs like one of the O G's, one
7:30
of the people that first they saw Bitcoin, they definitely
7:33
didn't get into it, like I'm Gonna Get Rich, they were just
7:35
like, oh, this is so interesting, peer-to-peer money
7:37
over the internet. This is really cool and then he
7:40
just huddled it or he forgot about it.
7:42
And then he found it. 10 years later, we have no idea.
7:45
And then, you know, then it becomes 16 million dollars.
7:48
And I think that is the power of houghtaling, right?
7:50
But, you know what, I always tell people is that it usually
7:53
takes one cycle one full cycle. You know, we're not going to try
7:57
to pitch you with the shit coin channels.
7:58
Bitch, you, which is how you're gonna get rich over.
8:00
Come over very quickly overnight know you DCA.
8:04
It's a Bitcoin for at least four years.
8:08
On the third or fourth year, you'll start to realize that was
8:11
a very good idea, right? But it usually takes time it
8:15
takes, no pun intended, takes proof of work, it takes work to
8:19
understand to be committed to have discipline to hold through
8:23
the Peaks and valleys. Right.
8:25
That that's it's very difficult psychologically.
8:28
Let's say you invent our numbers you know much wealth is relative
8:32
but let's say 1,000 for this example, you invested 1000
8:35
dollars, six months later, that could be It and if that $1000
8:39
for you is a lot, right? Because money is relative, you
8:43
know, it takes a special type of person to not only not sell, but
8:47
to actually buy more on those dips because that's when the
8:50
biggest opportunity is right. So, so yeah, guys, you know that
8:55
I thought it was a, it was treat.
8:56
What do you think Phil? Yeah, I think that after the
9:00
third or fourth year, something else that happens or at least
9:03
this is what happened to me. Is that I felt I didn't stock
9:06
enough not that That's what, that's what happening and just
9:09
for anybody out there, realize that no matter how hard you
9:14
stacked, you will get to that point where you feel, you didn't
9:18
stack hard enough and it's okay. It's okay, everybody feels it.
9:23
And don't get me wrong, like Nico was just saying money is
9:25
relative. So you know what your stack is
9:28
compared to somebody else's? It's completely irrelevant
9:31
because at the end of the day, you will always feel like you
9:36
could have stacked harder and it takes that On a time like while
9:39
you're doing it. Like, let's say when we see
9:40
Bitcoin at these depressed, caca Fiat prices, you know, like it
9:44
kind of seems like it just meanders along and it's doing
9:47
nothing and it's boring and you're like, you know, like I'm
9:50
not gonna buy as much this week, you know, it's not doing
9:52
anything. It's gonna go lower this and
9:54
that, that is to be honest that is mental fuckery.
9:58
That is stuff that I did to myself to somehow convince
10:01
myself out of stacking, as hard as I could.
10:05
And the only time you're going to feel remorse for those
10:07
decisions. That is after the three four
10:10
year, period, where you end up where you end up seeing what
10:14
Bitcoin does and you're like, oh my gosh.
10:17
Yeah, why was I thinking like this?
10:19
So anyways, it's just, it is totally a head game and it's
10:24
like they're Gigi had described right there is Bitcoin,
10:28
derangement syndrome, okay, or BDS, it does exist and it does
10:33
happen, Okay? So just say, headstrong.
10:37
Absolutely. And why do I say four years?
10:39
I'd say, yeah, go ahead. Go ahead, kiwi.
10:41
It's not a get-rich-quick scheme, it's a dunk, it pull
10:44
slow scheme and that high cost of capital being imposed, makes
10:50
us sort of blur. The lines between Investments
10:52
and savings. Yep.
10:54
They're 100% wisdom. Wisdom.
10:57
Yeah, so in a couple things guys, that four-year period is
11:01
roughly, how long I having is, Right, a Bitcoin having
11:05
basically means the the supply that's Being, you know, put into
11:09
the market, put into the total Supply Bitcoin.
11:12
You gets cut in half, right? That's what's happening there in
11:15
having so that's roughly why we say roughly three to four years
11:19
that you'll start to understand. Now again I want to emphasize
11:22
this money's relative so what you'll see it, everyone has
11:26
different starting points. What you'll see though and this
11:30
is significant and I see this every single time never fails is
11:34
that comparatively to the people around you.
11:38
Where you started. If you started putting some of
11:41
your wealth in Bitcoin, right? You'll start to notice a
11:45
difference relative to where you were before, right?
11:49
So it's very key important to keep in mind.
11:51
Again, this is not a get rich quick scheme.
11:53
This is just opting out of the slavery system, which is the
11:57
Fiat system that impoverishes you.
11:59
But anyways, Phil it's time for the daily fail.
12:04
Brought to you by Amber app. Check them out.
12:06
Amber Dot. Bitcoin stacking app by actual
12:10
bitcoiners, low fees, smart automation, Fair spreads, the
12:16
link is down below ammo, smart ways, that sense, okay?
12:22
So this is a, this is a television ad from bitwise and
12:28
essentially they're, they're shelling crypto right there
12:32
Shilling shit coins. And they're trying to shill it
12:35
in a way that kind of makes Makes it look respectable tries
12:40
to make it look respectable anyways but it doesn't do a
12:42
really good job. Anyways look, I hope you guys
12:44
are all really hungry because we're about to dive into some
12:47
some shit coin Buffet here with this ad.
12:50
Okay, that's what this is say. Let's see what's on the menu.
12:54
Early September. May I be of assistance, sir
13:00
please I know the 2013 Bitcoin but the rest I really need
13:05
something. Well, - very good sir.
13:09
May. I suggest a blind crypto doesn't
13:12
have to be overwhelming. That's exactly what I was
13:15
thinking. Wonderful, great choice.
13:19
Ask your financial advisor about bitwise the world's leader in
13:22
crypto in. What the fuck is that?
13:26
Dude, I just want to know what I just want to note to two kiwis
13:29
point before about the world economic Forum, just saying,
13:32
okay, if we go back and just take a look at what's actually
13:36
on the menu, right? Like cell.
13:40
Oh, okay. Nobody's even ever heard of this
13:42
shit coin, but a 16z is backing it and they're working with the
13:46
world economic Forum. We've showed this in a previous
13:49
video, the one that we had matter they'll with why are they
13:52
showing this? This random anything shit coin.
13:55
It's so creepy and strange. Anyways, look, the point I
13:58
wanted to make before we move on to the big part of the the fail
14:02
segment is is this again this is another type of advertisement
14:06
that attempts to Use Bitcoin as validation for Affinity scams.
14:14
That's all this is plain and simple.
14:16
Okay. I like Bitcoin by my shit coin.
14:18
Yeah, that's it. Exactly.
14:20
Dude, look, it's such a disservice because they're so it
14:26
doesn't need to be complicated. No shit.
14:29
You just buy Bitcoin. That's it.
14:31
Coinbase. And all those shit coin
14:33
exchanges, they're the ones making progress complicated for
14:37
the Suit of profit but it's simple.
14:40
All you have to do is buy Bitcoin and take it into self
14:43
custody. And you know what, the worst
14:44
part about this is I bet you that bitwise bullshit that's not
14:48
self custody. So you're keeping that with a
14:51
custodian that doesn't help the revolution.
14:55
The only thing that helps the revolution as individuals taking
14:59
self custody of their Bitcoin. That's the only way.
15:02
Money and state are separated. It's the only fucking way.
15:06
So it's like you got the, you got Do you get a paid actor?
15:09
A male model to say some things in the nice lady and it's like,
15:13
you know, the I bet you there's a populate, a portion of the
15:16
population that's like, oh, this seems good.
15:19
I want to invest in crypto, but I don't know which one right?
15:22
Like it's like dude, it's like man.
15:24
And you know what's unfortunate? Is that the big Corners will
15:27
always be fighting? This, always be calling out the
15:29
truth because it's the, The Profit incentive from creating
15:33
these fucking Giant. Turds bro is just so strong,
15:39
bro. Acca 16z as much as we call them
15:42
out. Feel like dude, like they're
15:44
rocking it in just like moving on to the next one.
15:47
So A lotta. Oh, let's let's make cellco.
15:49
Now let's make chicoine. I'll keep it.
15:52
And it's like, oh, that's the next big thing.
15:54
I'm Gonna Get Rich, bro. Dosed, Elon Musk is going to
15:56
take those two moon like, oh my God, like bro.
15:59
And then like, look at those coins.
16:01
Yeah. Totally wrecked, or you do what
16:04
we talked about in the very beginning of the show.
16:06
A long time preference, right? I'm not saying that, you know,
16:10
your fucking, you know, $500 is gonna turn into 16 million
16:14
dollars but even if you get a fraction of that bro, you know.
16:18
So anyways, anyways, I'll put a pole up nigga and I'll be
16:24
interested to hear your thoughts, but knowing that the
16:28
old gods are going to try pump the bag they should coins, do
16:33
you accumulate so that you can dump the set set?
16:36
A later date or do not fund it at all.
16:40
Because that's literally funding impression or the Fiat
16:42
reincarnated, I voted on this. What did you?
16:47
And I went I went with option b because that's exactly what I'm
16:51
doing. You know what I mean?
16:52
As soon as I figured out what the shit coin scam was, I got
16:55
rid of all of my shit coins, I put everything into Bitcoin and
16:57
that was it that was literally the end of it and I haven't
17:00
looked back. I understand that I'm missing
17:02
out on them, a Fiat gains. I don't give a fuck.
17:06
For real? No.
17:08
Do you get it bro? Look it again.
17:11
We're a bit coin show, so, you know, your well entitled to do
17:16
whatever the fuck you want with your money if you want to buy
17:18
shit Coins & Gamble. We just very transparent with
17:20
people what you're doing is gambling.
17:22
So be it. But what I see, right?
17:25
What? Phil and I are say that's what
17:28
wakes us up every day is we are we're here for the revolution.
17:31
We're here for the peaceful Revolution.
17:32
We want separation from money and state and you That by being
17:36
bitcoiners, right? All these should coins their
17:39
distractions there, that's what they do, right?
17:42
They distract you and they try to convince you to separate, you
17:46
know, to separate your corn from whatever.
17:49
So I don't think I could be sincere and I don't think Phil
17:53
and I could fill could do it either.
17:55
I don't think we can go up here every single day and just preach
17:58
and preach and preach and talk about Bitcoin and then be buying
18:02
shit coins on the side like I don't think that's how it works,
18:04
right? So yeah dude, I think you know
18:07
but I'm looking at it from a, from a different perspective.
18:10
I think that if you spend some time in Bitcoin, you go for the,
18:15
you come to get rich, I'm not gonna lie to you.
18:17
That's how I got. That's why I got into the space
18:19
and I did buy a lot of those shit coins.
18:21
And I was like, I'm gonna get rich and I'm gonna go whatever.
18:25
But then I realized I'm like there's something much bigger at
18:29
play here, right? And then, by learning about
18:32
Bitcoin, you learn how the money is broken.
18:35
You How states are using the money to manipulate people,
18:39
right? It's just like fuck that I want
18:42
Revolution. I want the death of central
18:44
banks, I think their systems of Oppression so I'm only for a
18:49
Bitcoin. That's what I stand for because
18:51
I think that it's the only cryptocurrency that could
18:54
successfully separate humans away from the monetary policy
18:58
and in the process separate money from state.
19:01
That a good answer, I'm completely with you.
19:05
I high on To the same as both, you was a question to bitcoin is
19:08
because it's like the first one. You're admitting it to shook
19:10
when you know it's gambling. But you're going to like use the
19:13
rising Tides against them at a later and potentially more
19:17
important date. But then you have the
19:19
opportunity cost. But you'd be very surprised with
19:22
how many people chose a and it's very surprising who chose that.
19:26
I mean, I think that people choose a because, you know,
19:29
again what I see that. Have you ever seen the learning
19:32
curve of crypto, right? First, you know everything, you
19:37
know, you by your miners, you buy a bunch of them, you get
19:39
into the shit coins and get totally wrecked and then it
19:42
opens you. And then you learn about
19:44
Bitcoin. I think that there's a lot of I
19:47
think that 2021 there was so much there's a flood of new
19:50
people going to the space. They feel like they've missed
19:53
out which you haven't, which is why showed that up that that
19:57
article in the beginning. And dude, I think that there's
20:02
the, the shit coins are so enticing.
20:04
They have the marketing They have all this shit and you're
20:06
just like, oh yeah, let me get into that.
20:08
But anyways, Phil, what's next fail that we scam ourselves, you
20:12
know what I mean? Like, that's what happens we
20:14
scam ourselves. Okay, let's move on.
20:17
We are following up on yesterday, with what happened,
20:22
with Wasabi wallet. Write the article about them
20:27
essentially censoring UT EXO's. So, Samurai gave a response
20:34
which We are going to dive into today, and, of course, samurais
20:39
not the point of this, in being in the fail, is, we're, it's the
20:44
general idea, right? It's not the actors at play
20:46
here. It's not Samurai wallet.
20:48
Why? Like you're going to see.
20:49
I think that Samurai did a great job with this response, but what
20:53
the point of this is, is what is happening in this space and the
20:57
demonizing of privacy tools, okay, that's the fucking fail.
21:03
Anyways, let's dive into what my wallet said on March 11th.
21:08
We were approached by the financial times to respond to a
21:10
story. That would be published where
21:12
the National Crime agency in the UK calls.
21:15
For regulation of coin, Join one wallet.
21:18
Seemingly folded immediately to this pressure, our response in
21:23
full below. Let's dive into their the actual
21:27
medium article that they that they're referring to in the
21:29
Tweet. The UK's National Crime, agency
21:32
has issued a warning that crypto mixers are being used.
21:35
For money laundering in the report in the reporting by the
21:39
financial times, Samurai, wallet and wasabi wallet.
21:41
Have both been mentioned as a well-known mixer, which this is
21:47
false. The author of the article
21:49
reached out to us on March 11th with the following questions to
21:52
allow us to respond. Now.
21:54
Look, we're not going to we're not going to dive into the the
21:57
length of these questions. You guys can take a look at
21:59
this, okay? What we're really what we're
22:01
really interested in is samurais response and what was done with
22:05
that? That response.
22:06
Okay? Since only a single sentence of
22:08
our response was used in the resulting article, we have
22:11
decided to publish our entire response that we sent to the
22:16
financial times below. There must be a distinction made
22:19
between what the NCAA has labeled crypto.
22:22
Mixers, and the open source software algorithms that are
22:26
used in Samurai, wallet known as coin.
22:28
Join a mixer implies, a custodial system where crypto is
22:33
sent into the control of a third.
22:35
Party custodian, who promises to send back crypto, that is
22:40
unrelated to the deposit, the software that Samurai wallet
22:43
produces is fundamentally different in the samurai
22:46
software user's individually collaborate with each other to
22:49
compose, what are known as coin transactions to themselves the
22:53
user retains custody of their Bitcoin at all times and a
22:57
transmission of funds to any third party, never occurs.
23:03
While it's true that Bitcoin is pseudonymous Is a pseudonymous
23:06
system at the protocol level. The vast majority of crypto on
23:10
ramps and off ramps. That's key.
23:12
Here are the custodians of vast amounts of personally,
23:17
identifiable information about their users to comply with kyc
23:22
and am L guidelines and regulations.
23:25
Of course, right, the argument, the crypto users identity is
23:28
obscured on the blockchain. So users shouldn't need to worry
23:31
themselves with, basic Financial privacy is not only bad advice.
23:35
It is a feeble attempt, to justify an unprecedented
23:39
encroachment into the financial privacy of law-abiding citizens.
23:45
That's exactly right. This is exactly what they're
23:48
doing with this. This is why they're trying to
23:50
criminalize and demonize privacy.
23:53
We believe the vast majority of users who are using
23:55
non-custodial coin software are law-abiding and simply trying to
23:59
obtain a basic level of financial privacy when using a
24:04
transparent and public flick blockchain businesses, that take
24:07
custody of funds. On behalf of customers are
24:09
already heavily regulated. We agree that the use of
24:12
centralized mixers that take possession and custody of funds
24:16
should be scrutinized and avoided, however, free and open
24:19
source software algorithms in which there is no entity.
24:22
That takes custody of funds, cannot be effectively regulated.
24:27
We believe the NCA should focus should instead focus on more
24:30
productive methods to prevent serious crime and catch
24:35
criminals. What were we saying yesterday?
24:37
Right, that this is this is not crime, fighting this.
24:40
This is not convinced roll dude, Ringo control, bro.
24:45
It like it. You can't reach another
24:47
conclusion. We have done the research.
24:49
We had dr. Ron Paul, we have done, we've
24:52
show. I'm gonna pop up the little, the
24:54
little info thing to the current amount kyc system.
24:58
Only stops .02 percent of cry. People.
25:03
They spend more on people complying than they do on
25:07
actually getting back laundered money there, right?
25:10
Like I need, it's like, if these are systems of control, but what
25:13
I want you guys to pay attention to, and by the way, we cover
25:17
Financial Times articles, The Economist in New York Times the
25:19
guardian all the time, because all of those Publications, you
25:22
have to understand something. There are the mouthpieces of the
25:25
state, right? So if you know, the state wants
25:28
a war or they want something, right?
25:30
They want the populace to believe.
25:32
Something, they use those articles to do that.
25:35
So, what you're seeing, is the financial times, which also
25:37
released an article that says, please stop calling Fiat a meme
25:41
because it isn't right. This same publication, right?
25:44
This is where Steve hanky, you know?
25:46
Like, if he this is where he dreams to write, you know, so
25:50
you have to understand where it's coming from, but I have
25:52
some good news and I'm going to tell you guys a little bit of an
25:54
inside scoop. We have the wassup, we have not
25:57
the Wasabi guys. We have the samurai guys coming
25:59
on the show, not this Friday next Friday.
26:02
To go through that Financial Times article on the show to
26:05
just dismantle it, you know. So, yeah, it's just, it's a
26:09
crock of shit and the there, and again, this is what I've been
26:14
telling you in the macro sense. This is the clash between, you
26:17
know, the rise of sovereign individuals and nation states,
26:22
right? And now that they're losing
26:24
their Monopoly on the creation of money.
26:28
You know this this was inevitable.
26:29
So take self custody. Anyways, kiwi.
26:32
What are your thoughts on this? Yeah.
26:35
Demonizing privacy and the ability to save is anti-human.
26:41
It's anti flourishing for humans.
26:43
It's retarded. It's trying to create the
26:46
panopticon that they want with the social credit system, either
26:49
in fear, or on top of the theorem, which is just found
26:53
reincarnated, they want the social credit system, they were
26:56
demonize anyone who stands out? Yep, that's exactly what they
26:59
do. That's literally what they do.
27:02
They other people. They censor them.
27:04
They d. Them right.
27:06
Like look at what's happened in the last two years.
27:08
You know. It's crazy and Canada recently,
27:11
right? Because people were protesting
27:14
but great response right from Samurai.
27:16
Yeah, you know, like, like great response from Samurai and and
27:19
the the point about the mixing services and the collaborative
27:22
spends, you see how badly they want to demonize privacy, they
27:25
want to demonize it so bad. They are not they're not even
27:28
taking the time to figure out the difference between the
27:32
services because that's not the game.
27:34
That's not the game. The game, they're in, they're
27:36
not interested in his hand. And on top of that, like what
27:41
happened to j.p. Morgan?
27:42
When they found millions of dollars of coke on one of their
27:45
boats, what happened to? That's okay.
27:47
The God for giving hundreds of millions to one of her buddies,
27:50
she gets promoted, like, that's it, those for the, but not for
27:53
me. That's okay.
27:54
Their Bankers bro, you know, Christina the head of the
27:57
European Central Bank, a convicted criminal, but it's ok,
27:59
you present a do before you need a report.
28:02
Every six hundred dollar transaction because you might do
28:04
bad things, but Christine Lagarde, she's immune right?
28:08
So yeah, man. It's Exactly what you said, kiwi
28:11
its rules for them and know what is it rules for thee?
28:14
And not for me, something like that.
28:16
But anyways, Phil it's time for the daily meme review brought to
28:20
you, by Citadel 21. It's the best bit Coy cultural
28:23
Zine its stories articles Comics by actual bitcoiners.
28:28
This is volume 10. It just came out every physical
28:31
copy has different artwork on the thing.
28:34
They're scarce was only 1000 copies made per volume.
28:37
Get your print of Adele 21 today.
28:41
All right. First mean, it was, it was a
28:43
reply to our tweet, by the way, Phil, I have to give a shout out
28:46
to Phil, he's been making awesome fucking Clips.
28:49
Okay? He's been killing it.
28:51
We're doing short little videos where were adding into the show?
28:54
It looks like you guys are loving it, so, I just want to
28:56
give a shout-out to fill because he's The Mastermind behind them.
28:59
Anyways, this check this out. This is eith 1.0 proof-of-work.
29:04
Doug E, 2.0, proof of steak. That's so funny.
29:09
Oh, Look at this, live in all the fucking shit on shit on
29:13
shit, man. Okay, moving on next one, I
29:18
think they're gonna run out of names eventually.
29:20
Okay, please Bitcoin Gandalf. Oh my God, how did we not think
29:25
of ourselves Average? Joe inflation.
29:27
Hyper high price. It high caste price.
29:29
The government by 50k electric car.
29:32
I can't believe he said that, I can't believe he said that, it's
29:38
like, well, yeah. Talking about Buddha giggle.
29:40
What do, ya Buddha? Buddha gag Buddha gauge, repeat,
29:43
whatever, bro. Like what the fuck are we stage?
29:46
It's like it's like you know that's the equivalent of like
29:49
eat cake from the French Revolution from Maria to read.
29:52
It's like yeah I don't kill you peasants, just spied electric
29:55
car. It's okay like bro what the
29:57
fuck? Anyways, moving on next one.
30:02
Bye. Bitcoin cheese Wasabi, devs
30:04
after charging High fees and docks in their users to the ha
30:08
ha. It's mean but it's funny.
30:11
No, it should be mean, dude. It's not.
30:14
You can't normalize what Kiwi said.
30:17
Yeah. Kyc and am L.
30:19
It's an anti-human system that has excluded half the planet
30:23
because of where they were born. This is not a, this is not a
30:27
defendable system. It does not even effective at
30:30
stopping crime that. There's like, it's literally.
30:33
So some bureaucrats could control their populace.
30:36
That's literally what it's for Linda.
30:39
Odin described it perfectly as proof of force.
30:43
Yeah, it's for anyways. Okay, producer price index up,
30:47
10% don't get caught in the wrong.
30:49
Asset bitcoiners, who saw this coming?
30:51
And mid-2020s, groomers and ponds selling?
30:54
PPI 10%. Listen Phil.
30:57
And I are definitely in this category and we proudly say that
31:01
we've been calling inflation like 11 months before me and
31:06
Legacy Media or what other people call Mainstream.
31:09
Yes. Oh yeah bro.
31:11
Like you print warm you print more money inflation happens
31:15
like it's not rocket science. Anyways we're just ready to read
31:18
interpret. Yes, he leaves Nico, bro.
31:20
It's that there's they're sniffing that modern monetary
31:24
Kaka like the modern monetary Theory which is just a fancy way
31:27
of saying. If we print more money, we could
31:30
pay for everything completely, you know, this regarding every
31:35
historical example of when that happens, the money goes to shit.
31:39
It but hey modern monetary theory for you.
31:42
You'll nothing. Be happy anyways.
31:44
Bitcoin. Meme Library.
31:46
Go ahead. Keep is also not Nico.
31:49
Just FYI. Kaka means shit and moldy.
31:52
Yeah it means she didn't say means shit in Spanish to which
31:55
is what I'm using is about CPI. Like even in Bitcoin toward it's
32:04
like, oh CPI is it 7.9%? It's like that is such a stupid.
32:09
Matric. Like why would you even begin
32:11
the conversation with that? Dude, any future gives me know
32:15
and it's a propaganda number. The CPI is government
32:18
propaganda, because if you actually look at energy, the
32:22
cost of energy and the cost of food, it's around 30 percent and
32:26
that's what most people spend their money on and not to
32:28
mention rent and real estate. It's up 30%.
32:32
And the last year, so, it's like, what is the real rate of
32:35
inflation is definitely not fucking 7.9% there, it's It's
32:39
bullshit. But anyways let's look at Keanu
32:41
because he makes everyone feel better USD inflation Bitcoin
32:45
inflation hilarious. All right, moving on to the next
32:50
one. Pirate, this is pirate.
32:52
You got to follow his account, he's full of wisdom.
32:55
He doesn't give a fuck. He is an original toxic pleb.
33:00
Anyways, check out what he has to say.
33:02
Too many big Bitcoin, Ur follower Bitcoin or accounts
33:05
have this air about them where they seem to think they're more
33:08
important than they are. Most of them are more focused on
33:10
accumulating likes force at again.
33:14
We've made a couple episodes about this.
33:16
We had fired on the show guys, like we're not trying to tell
33:20
you, you know, how to get rich or you know, you're going to get
33:25
rich if you buy this whole thing.
33:27
That's a secondary effect of buying and DCA in Bitcoin.
33:32
That's a secondary effect. Like it's going to happen.
33:34
We're more focused on the revolution.
33:37
So that's what this channel is about, right?
33:39
And I think that pirate really highlights that there's a lot of
33:42
grifters for lack of a better name on Twitter that managed to
33:46
get a high follower count, but they're not in it for the
33:49
revolution. Meaning they could be bought,
33:52
right? There's a lot of people on
33:54
Twitter, a lot of big Bitcoin accounts that are like that.
33:56
I'm not going to name names, right?
33:58
But I'm sure enough, sure, a couple of you could, you know,
34:00
name some off the top of your head, right?
34:02
And those in those are people to be careful about because at the
34:06
end of the day, are you in this to get the lambo?
34:09
Are you in this separate money from say?
34:11
That's a question. I have for you guys.
34:12
Anyways, it is buy Bitcoin Bobby.
34:15
Wait, why not both? Why not both.
34:17
There you go. I mean, but it's a secondary
34:19
effect. You get rich anyways, holding
34:21
Bitcoin, you get rich. It's not even that you get rich,
34:24
bro. Is that your value?
34:25
Your time is actually valued, right?
34:28
And Fiat. It's just, it's literally
34:29
getting sucked out right. Anyways?
34:32
Wait, Bitcoin. Twitter is not important.
34:34
Never has been never was so yeah.
34:37
It's definitely not important but it sure is.
34:39
Very addicting. Anyways, Phil for those awesome
34:42
memes that you picked up, Phil's been picking the memes, and he's
34:45
much better at me, but much better at it than me.
34:48
And Phil, I'm gonna give it a pink pearl eraser.
34:53
You guys have all, you have memories of this in class and
34:56
just like that on the desk, you know, erase erase erase anyways.
35:01
So what would you that is an original that isn't everybody
35:05
sees that and all kinds of terrible memories come flooding
35:08
back in Right, I love it. I love it.
35:11
Okay, so, you know what? I'm, I'm also going to go a
35:13
little bit old school, but not as old school and definitely not
35:16
as relevant. Okay?
35:17
This was my original Avatar. That's right.
35:20
I'm gonna start shaming B Ko into helping me.
35:23
Make a new Avatar. This was my original Avatar.
35:26
I don't know if you guys can see it yet.
35:27
Now you can, okay, it's a decal that that he made for me of
35:31
Darth Vader and it says, I find your lack of encryption
35:34
disturbing. That was my original image on
35:39
Twitter which I was very heartbroken when you changed it.
35:42
Yeah, it's okay. I went with the better spy
35:44
versus spy rendition from physique for Citadel 21, which I
35:49
personally like better, but I still love this.
35:51
I still think this is awesome, but you know, it's time to
35:53
change. Let us know which logo you like
35:55
better from filled out in the comments.
35:57
Comment, comment, comment. Anyways, kiwi, what would you
35:59
give those memes? I give them one steel paper
36:06
clip, I don't think we've ever had a paperclip.
36:09
Never, this is this is what is this is Throwback high school
36:12
day, it means, right? Right got stickers.
36:15
We got erasers, I got paper clips.
36:18
Anyways, guys, we want to know if you agree with her scores,
36:20
let us know, down below if you disagree.
36:22
Also, let us know down below. And of course, make sure to
36:26
subscribe to us on alternative video platforms because we do
36:29
talk shit about the world economic I'm like Bitcoin tv.com
36:34
and Rumble.com but anyways Phil it's time for the Daily News
36:39
brought to you by crypto. Cloaks.com they make the best 3D
36:43
printed Bitcoin merge like the famous 3D printed Bitcoin art
36:47
sculpture. Grenade thing opens up, you put
36:48
your favorite Hardware wallet in there and you can also get this
36:52
in any custom color. Your heart desires.
36:54
You want to change the be too purple.
36:55
You could do that but only on crypto cloaks.com and you can
36:58
take advantage of the link down below for 10% off.
37:01
All right. So this is weird.
37:05
There's, there's so many things that gets accepted right by, you
37:09
know, the SEC to be listed on the stock exchange, but
37:12
apparently Bitcoin ETFs are still not allowed, right?
37:19
This is NY dig there, the behind the whole Bitcoin for
37:22
corporations, they filed for an ETF that got rejected, Global X
37:27
Bitcoin trust listing also got rejected as well.
37:33
I don't get it. The Futures got accepted.
37:36
I don't understand, I don't know.
37:37
I went straight to bitcoin. I missed all traditional Finance
37:40
so I don't have anything else to say about this.
37:43
Phil do you want to add to this? I just find it.
37:46
I just find it's weird. That Bitcoin ETFs keep getting
37:49
rejected. That's I find that very strange
37:50
because I know there's a whole lot of pressure behind it.
37:53
So I and I again, I don't know enough to speculate about what
37:58
what they're doing over there at the SEC.
38:01
I To be honest, I don't quite understand the angle because
38:05
these people are usually desperate to, you know, separate
38:08
retail investors from their money.
38:10
Yep. So is it possible?
38:13
I know this is gonna sound stupid but is it possible that
38:16
maybe they won't make as much off of this and maybe that's why
38:21
they need that. Maybe that's why they don't care
38:23
as much about it. Like, you know, maybe it's
38:25
something like that right II, don't know, you know because to
38:28
me, I'm not seeing the logic in this, we've been hearing about
38:31
About a Bitcoin ETF. Now at least for I've been
38:35
hearing about it for three years.
38:37
Okay. I don't know how much I and
38:39
again before I came into Bitcoin, I don't know if there
38:41
was already talk about some product like this, but it just
38:44
seems it just seems very suspicious that this keeps
38:50
getting rejected over and over again and it's not like it's not
38:54
some Mom and Pop shop, right? That that's showing up and and
38:58
trying to offer this this product this is NY Yeah, dude.
39:02
I they all tried. They've all tried it.
39:05
It hasn't happened hasn't happened.
39:07
So like what is what reasons? I never really see any reasons
39:10
though. Like, why does it really get
39:11
rejected? Gary get know they say the
39:14
volatility and all this reality. Of course, guys make no mistakes
39:18
when this gets accepted and I think they know this is opening
39:21
the floodgates because, essentially, all the Boomers or
39:25
whatever, all the people that have their money in traditional
39:28
equities, now they can get direct exposure.
39:31
Bossier to bitcoin through the Bitcoin ETF.
39:34
Right. So it you know, maybe they know
39:37
that maybe they don't want to help that.
39:39
Anyways, I've started to notice a pattern.
39:41
It's a very good pattern. We reported this, of course,
39:44
this guy's not going to win but I found this interesting because
39:46
your start you're starting to notice something.
39:49
This was January, 27 2022. Damn hon.
39:53
Fees want will make Bitcoin legal tender in Texas, if
39:57
elected. Now check this out, I declare my
40:00
candidacy for this came out Day. I declare my candidacy for US.
40:03
Senate making Bitcoin legal tender in the USA.
40:06
Will be my primary objective on the senate floor.
40:12
So, very interesting. Like I like, I predicted Like we
40:18
predicted better said, this was going to get political political
40:22
candidates were going to use this because it gets votes a lot
40:24
of people own Bitcoin. So I hope this keeps going.
40:28
I hope More Steam gets being accumulated and more candidates
40:32
are like Alexa me. I will make Bitcoin legal tender
40:35
because honestly that's really what matters that like for me
40:39
voting I'm like Democratic Republic.
40:40
I don't give a shit. Do you support Bitcoin?
40:43
Do you not support Bitcoin, do you support the ethos of
40:45
Bitcoin, do you support freedom? I'm gonna vote for you, right?
40:48
So I hope more of these candidates keep popping up, but
40:51
it's a good pattern fill, you know.
40:53
One thing is, like one candidate saying it.
40:56
Another thing is, you start to recognize the pattern, right?
40:59
You also have Wendy Rogers from Arizona.
41:02
I don't think this bill is going to pass but also proposing to
41:05
make Bitcoin legal tender in Arizona, right?
41:07
So you seeing Arizona, you're seeing Texas.
41:09
You're seeing a huge movement and Wyoming very bullish.
41:15
You know, very bullish. I think go ahead to we Arizona
41:18
Laps on Liberty though as ski for point out but it is called
41:22
and I also think like with the ETF, like it's a good thing that
41:25
it keeps getting delayed because it lets us play ABS, keep
41:28
front-running them, and that is going to be so epic in the long
41:31
run. It's true.
41:33
That is true. Not to put a, not put a damper
41:37
on the, the politician parade, right?
41:39
Of all these, you know, the politicians say?
41:41
Yeah. I support Bitcoin, but you, and
41:42
I both know, right? There's going to be a certain
41:45
subset of these politicians that are going to support Bitcoin.
41:48
And the second, they get elected Bitcoins, just going to
41:50
disappear from their I'm saying from their their platform.
41:54
You know what I mean? It's not a politician would
41:57
never do that. You're right, you're right?
41:59
I'm being too cynical. We've never seen that happen
42:03
before. But this is the sad part, right?
42:08
You can't even trust these people.
42:09
You can't even, it's like, why are we listening to them?
42:11
Even why are we playing this game?
42:14
Never could. I think, I think, you know, I
42:16
think that from the bitcoiners perspective, you're like, if
42:19
it's Fiat Politics, the shit is nuts, right?
42:22
Like this is nuts, but I think that during the transition,
42:26
unfortunately, you're going to have to deal with this
42:28
Antiquated system. So that the transition isn't so
42:33
brutal and hopefully bitcoiners It persecuted and your
42:38
jurisdiction. It's already happening in China,
42:40
right? The, the Chinese Supreme Court
42:42
10 years in prison for even transact, take for sending
42:46
numbers. You know what's, you know what,
42:51
though in the u.s. though, we definitely have a good chance of
42:54
some of these politicians who may not be.
42:56
So friendly to bitcoin but we'll use Bitcoin as their platform.
42:59
They may end up inadvertently orange killing themselves.
43:02
Yeah, of course, I mean dude, may not be 400.
43:06
But by the end they're like this is way better.
43:08
Have you noticed that like Ted Cruz or lummis the people that
43:12
actual politicians that bought Bitcoin all of a sudden?
43:14
They just got based like other comments that are just based,
43:17
right? So like is that, you know, you
43:19
don't change Bitcoin, Bitcoin changes you interesting.
43:22
Anyways I'm gonna pivot is last thing.
43:24
We're going to talk about during the news today we're going to
43:26
talk about this country. That the only thing most people
43:31
especially in the west know this country for is Borat Amy, the
43:35
country. Is cause extend its a country
43:39
literally in the middle of Asia. And why do you, why should you
43:44
care it houses? A lot of Bitcoin miners.
43:47
In fact, it's estimated that around. 20% of the hash rate,
43:52
roughly really 18% of the Hatchery is located in that
43:57
country. Just to give you a frame of
43:59
reference Germany, much more well-known country only has 5%
44:04
right? Iran only has 3% right you know
44:09
Mexico has .0 has less than 1% Canada has 10%.
44:13
So this this country in Asia has 20% of the hash rate.
44:19
Now, the reason I want to talk about it is because Remember
44:24
what happened? When China banned Bitcoin mining
44:28
what you saw was this Great, Migration.
44:31
You saw people moving and flocking to the place where
44:37
they're treated best friendly jurisdiction.
44:40
And you also saw Millions, tens of millions, if not hundreds of
44:44
millions of dollars worth of Hardware, migrating, without any
44:49
coercion, without any Central party, telling them to do.
44:52
So it was I people following their own incentives there in
44:57
sent incentive of profit, which in my opinion, is the strongest
45:00
incentive. It's what makes the world go
45:02
round really? So, and what's interesting, is
45:06
that what tends to happen when Anna country starts to
45:10
accumulate so much power, right? Is that they try to use their
45:18
geopolitical advantage, meaning the, their Monopoly on violence.
45:22
And that Eric territory that specific area to try to coerce
45:27
people. And that's what you're starting
45:29
to see in Kazakhstan, right? They're starting to use that as
45:33
a scapegoat because they know that there's a lot of Bitcoin
45:36
miners in the country now, unfortunately for them.
45:41
Bitcoin miners could just get up and go right?
45:44
They don't think the nation-state I think governments
45:47
have realized that yet. I think that they see oh hey
45:51
there's a bunch of Bitcoin miners here.
45:53
I could what they would normally do.
45:55
I could essentially twist their arm behind their back and make
45:58
them do what I want. But with Bitcoin, like we saw
46:01
with China, they could just get up and leave.
46:03
Right. So what you're seeing in
46:05
Kazakhstan now that all this Bitcoin miners came into the
46:08
country. Now, there's People, that want
46:12
Power because of that. Anyways, this check out this
46:14
article Kazakhstan has been has historically been a popular in
46:19
welcoming destination for Bitcoin Miners and July 20, 22
46:22
kha'zix, the Kazakh government estimated that roughly 14
46:25
full-scale cryptocurrency mining Farms were operated inside its
46:28
borders and government ministers.
46:30
Have regularly made public statements about the hundreds of
46:33
millions of dollars. They expected to flow in
46:35
Kazakhstan and cryptocurrency Mining sector.
46:37
That is very similar to what you're seeing in Texas nowadays.
46:41
Which is why I want to talk about this following China.
46:44
Following China's mining band some estimates reported that
46:46
Kazakhstan, share of the Bitcoin, hash rate, more than
46:49
doubled in three months from roughly ten percent in June 20
46:52
21, 22 22, 22 percent in August. And now it's down.
46:56
Now, it's down a couple percentage points.
46:59
But Kazakhstan has struggled to cope with the surge of new
47:02
mining activity since China's banned in the wake of China's
47:04
mining band. The Kazakh government has
47:06
implemented some paint, some acutely, painful changes to its
47:10
energy Relations and it's restricting growth of Bitcoin
47:13
mining in the country. These changes aimed at
47:16
controlling new mining activity are forcing many miners to
47:21
start. Once again searching for a new
47:24
home, that is the power of the Bitcoin gives you.
47:28
You don't have to be location-specific.
47:30
This is what the book, The sovereign individual was talking
47:33
about, you get to pick the jurisdiction that treats you
47:37
best. So again they might be strong.
47:40
Arming these you know these miners for now but hey, look
47:44
from this article, it was 22%. It's already dropped to 18
47:47
percent, right? Anyways but in September local
47:52
news Outlet cos x and today published an article titled
47:56
electricity shortage a row Was in Kazakh stand due to
48:00
cryptocurrency Mining and although not entirely due to
48:03
that one article from that point The Narrative around cause
48:06
extends, electricity problems, change to focus significantly on
48:11
Bitcoin mining. Right?
48:13
What does that sound familiar to you?
48:16
Sounds very familiar to the narratives right in the EU.
48:19
And the this they spin up a narrative.
48:21
They make people believe. But unfortunately, for them what
48:25
we're starting to see more and more in the In that, the EU
48:29
didn't band Bitcoin. My proof of work is because they
48:32
fear getting left behind because those Bitcoin miners could just
48:36
get up and go. So what we're seeing in
48:39
Kazakhstan is something that would play that that you it's
48:42
like what happens with oil when a country is really rich with
48:45
oil what tends to happen. Corruption Warlords.
48:48
They take over that supply of oil.
48:50
But what you're seeing with Bitcoin is that they still the
48:54
natural human reaction to try to take control of it, but the
48:57
miners are just like I'm gonna go to Texas or I'm gonna go to
49:00
Canada. I'm gonna go.
49:02
It's not location-specific is what I'm trying to say.
49:05
So really interesting article, I know there is a lot to cover but
49:09
man I just find it absolutely fascinating.
49:12
How this is not location specific.
49:14
And as soon as you start trying to put pressure, the way that
49:18
nation-states are, usually usually used to putting
49:21
pressure, those miners just leave.
49:23
As we saw in Kazakhstan, already four percent of the hash rate
49:26
has already left the country and I'm sure Sure that a large part
49:29
of that has to do with these new regulations, that they're trying
49:32
to impose thinking that they're going to be able to milk these
49:35
people, out of more tax revenue or any of that.
49:40
Yeah, this isn't. Yeah.
49:41
This isn't. It's not an oil.
49:43
Well, right. Like you can just pick up your
49:45
minor and go and I don't think they really realized that and
49:48
the other piece of it is, is this right in many other in many
49:52
other businesses you couldn't just do this with your
49:54
equipment, you know? But miners you Actually do this
49:59
piece by piece. You can dismantle it piece by
50:00
piece, you can move it Minor by minor.
50:02
It's not the same thing as moving an oil rig in an oil.
50:05
Well and all of well first of all, well you can't move, okay?
50:08
But all of the equipment around, it is massive and going to take
50:11
a very long time to move. And you're not necessarily like
50:15
where you gonna get another well.
50:17
So again, it's very region-specific.
50:19
It's not the same thing again. You know, we're going to compare
50:22
this to even gold mining and stuff like that.
50:24
It's the same exact thing. And this is a whole, All new
50:28
landscape. This is what we've said right
50:30
about disruptive Technologies. Like we don't understand the
50:34
full implications of a Bitcoin world.
50:37
We don't understand the full implications of Bitcoin
50:40
technology reaching out into every aspect of our lives.
50:44
And this is part of it, right? It's going to touch the things
50:48
that it needs the most first, but as it continues to grow, as
50:52
it continues to mature, we are going to see Bitcoin disrupting,
50:56
I think aspects of life that we just we Expect and like look at
50:59
this, right? Who would have thought, like,
51:01
governments always think that they have this, this Ace in
51:04
their sleeve, we can force you to stay here.
51:06
You, you have to stay like, well, not exactly, they're
51:10
already playing it already playing it Kazakhstan has
51:13
confiscated, which is why I want to talk about this today.
51:15
Cause again has confiscated, nearly 200 million dollars in
51:18
mining equipment from unregistered minors.
51:21
So yes, to add to exactly what Phil was saying.
51:25
They're trying to play the same car.
51:28
Did that. They always play and Venezuela.
51:30
For example, what they did was a Venezuelan government
51:34
nationalized, the oil companies write taking possession.
51:38
But with this, right? You're just like everybody else.
51:42
You take those miners, you're gonna have to plug them in and
51:44
find them yourself. And those miners, the ones that
51:46
have the capital, they're just going to go to another place
51:48
where they can mind peacefully. It changes the Dynamics.
51:51
That changes everything, right? So what Phil was saying,
51:54
anyways, kiwi. What are your final thoughts on
51:57
this? I know it's Some country as I
51:59
know it's a lot of abstraction but I think it's important to
52:03
talk about these things because it highlights the better flag
52:06
theory. That bitcoiners talked about so
52:08
much where the individual has never had this much power right
52:14
over the state so much Freedom, so much, right to choose to go
52:18
to where he's treated best. And there's really no response.
52:23
They have to this right there, just trying to, you know,
52:26
they're relying on the old ways but not Realizing that the old
52:29
ways are not effective anymore, kiwi.
52:32
Correct. I mean, imagine being that much
52:35
of a cock that you're registering your miners like,
52:38
how antithetical is that? You know what I mean?
52:40
It's like you're trying to stand up to collectivism by
52:43
registering your individualism ha ha, ha, no.
52:49
Is it a while though? It is, it is The Sovereign
52:52
individuals thesis playing out and you see them in places, like
52:55
Texas, like El Salvador. And these guys just like
52:59
individuals are on the hero's journey.
53:01
It's like State is also having to touch the hot stove.
53:04
So it's going to be fun to watch this pan out.
53:06
Absolutely. It's going to be fun to watch
53:08
this play. Now if you take Bitcoin into
53:10
self custody, if you do, it's going to be a very rocky road
53:13
for you. And we're also fans of physical
53:15
gold. That's nice.
53:17
You know, but it just sucks to store a lot of it dude.
53:20
You know, like but anything that you could actually take physical
53:23
custody of and real estate doesn't count, by the way, is,
53:28
you know, we're big fans of of them show.
53:30
But anyways, Phil it's time for know.
53:32
It's not. There was a software release
53:33
today. Whatever.
53:33
Pretty bad software releases brought to you by Cipher safe.
53:37
Check them out. Cipher safe dot IO, the best
53:40
place to store your Bitcoin seed store it in the Cipher wheel or
53:45
the all new Cipher grid. Both come complete with
53:49
temporary assistant wire in the cipher grid.
53:51
Comes with a punch tool. All right we've got my node
53:54
version 2.53 that was released. I actually just upgraded to that
54:02
the Link is Down Below, guys, don't forget to check us out.
54:05
On our Audio, Only podcast, Apple podcast, Spotify, and
54:11
anchor, and if you want to stream of some SATs, check us
54:13
out on Fountain FM. Awesome.
54:16
Thank you Phil. All right guys before we going
54:17
to give a very special shout-out to our awesome thread.
54:19
Sponsor rep heart.com. Phil and I wear the hoodies
54:23
everyday, feel has the decentralized corpse one, very
54:26
cool stuff and I have this orange one very, very cool.
54:29
Anyways, you can take advantage a link down below for 10. % off
54:32
anything on the store rep. Hard.com.
54:34
I also want to give a very, very special shout-out to her awesome
54:38
guests. The same is kiwi, Pato you can
54:41
get to give him a follow at New Zealand huddle.
54:44
Anyways, guys, that was our show if you enjoyed the show, you
54:46
know what to do. Smash that like button special.
54:49
And of course, if you want to continue hearing the Bitcoin,
54:51
use from the Polly Platt perspective and the catastrophic
54:54
fails from the shit coin World, economic Central Bankers, all of
54:58
them in one go definitely consider subscribing to Simply
55:01
Bitcoin and See you tomorrow guys, for Benny episode, The
55:03
statist moat is shrinking and they know it.