Latest / Simply Bitcoin / Bitcoin Looks Ready to Absolutely Explode! | EP 1096

Transcript

Bitcoin Looks Ready to Absolutely Explode! | EP 1096 · Simply Bitcoin

• 0:00
  Yo, Bitcoin just ripped to $66,000 and no one knows why,
• 0:05
  but I think if we piece the if we piece everything together, a
• 0:09
  few bullish developments have been happening behind closed
• 0:12
  doors. First, BlackRock, this crazy
• 0:15
  BlackRock presentation that we're going to play for you
• 0:18
  guys, making the case that Bitcoin is growing exponentially
• 0:22
  faster than the adoption of the Internet and the adoption of of
• 0:25
  telephones. Also following up on some news
• 0:28
  that we did a couple weeks ago there there was this news
• 0:31
  interview from the legacy mainstream media about how the
• 0:34
  Middle East is adopting Bitcoin miners.
• 0:37
  We were speculating on that last week.
• 0:40
  Now it is confirmed Bitcoin's most recent price rise will
• 0:44
  begin to make sense. Once you start putting all these
• 0:46
  pieces together and not only will you begin to understand why
• 0:50
  Bitcoin is quietly climbing, but you will begin to understand
• 0:53
  what this next leg of the Bitcoin bull run could be like
• 0:57
  any unlike anything you've ever seen before.
• 1:00
  While most people have been bored over the last eight
• 1:02
  months, it's been excruciating chopping sideways action today,
• 1:06
  we're going to show you why this has been incredibly healthy for
• 1:09
  Bitcoin and why the exact same thing happened in 2020 right
• 1:13
  before Bitcoin exploded by over 600%.
• 1:17
  So I think that the end of this year is going to be explosive,
• 1:20
  literally no pun intended. And I also believe that this
• 1:24
  this CHOP consolidation was actually really, really healthy
• 1:28
  because it built a very solid foundation.
• 1:31
  I mean, if I told you back in 2021 that we are literally going
• 1:35
  to consolidate chop sideways at the all time high, you would not
• 1:40
  have believed me. So I have a couple clips lined
• 1:43
  up for you guys right in the beginning to talk about the
• 1:46
  Black Rock stuff, to talk about the Middle East stuff.
• 1:48
  But before we jump into it, I do want to bring up my legendary Co
• 1:52
  host who is always optimistic. Of course I'm talking about
• 1:55
  optimist fields. How you doing bro?
• 1:57
  I am doing wonderful, I do. I do have a low key case of the
• 2:01
  Mondays guys, but once the show gets in, everything's good, man,
• 2:04
  Life's wonderful, everything's great.
• 2:06
  I feel great. Can't really complain here Nico,
• 2:09
  things are great. Absolutely 100%.
• 2:12
  All right, everybody, no more delay.
• 2:13
  Let's jump into some of the bullish news.
• 2:16
  So first of all, I just got to say we called this what what do
• 2:20
  we say on, on simply Bitcoin tomorrow's news.
• 2:22
  Tomorrow's Bitcoin news today. Yeah, yeah.
• 2:26
  I mean, we called this we we, we made an episode last week making
• 2:31
  the case that the Middle East was getting into Bitcoin.
• 2:34
  And the reason we are making the case is, of course, in the in
• 2:37
  the UAE, they were lowering taxes and they were also the
• 2:43
  Bitcoin conference is going to be throwing a conference in Abu
• 2:46
  Dhabi called Bitcoin MENA. And also they that some of their
• 2:52
  hedge funds and some of their sovereign wealth funds were
• 2:55
  getting into Bitcoin mining. But it was all like on articles.
• 2:59
  It was like on, you know, third party websites and you're
• 3:03
  reading the article and you're like, OK, yeah, you have to take
• 3:05
  their word for it. Well, now it's confirmed.
• 3:08
  This is legacy mainstream media talking about Bitcoin mining in
• 3:11
  the United Arab Emirates. Let's check it out.
• 3:14
  How do you think Bitcoin mining in the UAE is different than
• 3:18
  other regions in the world? Where we are in UAE?
• 3:21
  We we started Bitcoin mining in UAE around three years ago.
• 3:25
  We built one of the biggest hydro sites in the world, which
• 3:28
  uses water technology to cool itself.
• 3:30
  It's one of the biggest in the region and in the world.
• 3:33
  As we go on, we are trying to expand in the region.
• 3:36
  Maybe can you share more with John, like what is the the
• 3:38
  outsize role the UAE plays when it comes to crypto mining?
• 3:41
  Do you have any data on what percentage of a hash rate is
• 3:44
  coming from the region and also the source of electricity that
• 3:46
  is being used, which is obviously a big component in the
• 3:49
  cost of it. Point mining Where?
• 3:50
  Where does that come from when it comes to UAE mining?
• 3:52
  Absolutely about the data you know to to give you exact data
• 3:56
  it it would be not correct. But right now where we sit is
• 4:00
  around 4% of the hash rate of the word is producing from the
• 4:04
  region and but that number is subject to changes on a daily
• 4:07
  basis as the hash rate index changes in sort of the energy.
• 4:11
  As you know in UAE in general, we are moving to green as is
• 4:15
  Excellency Dr. Job are explaining COP 28 by 2050 we
• 4:18
  want to beat net 0 carbon but the grid is moving towards solar
• 4:23
  and nuclear. So this is incredibly bullish,
• 4:27
  guys, not in itself. If you just play this clip by
• 4:31
  itself, it doesn't mean anything.
• 4:33
  But if you connect the dots like it makes me so bullish for 2025,
• 4:40
  OK, you have the institutional adoption of Bitcoin, the
• 4:44
  approval of the ETF. You have pension funds like the
• 4:47
  Wisconsin Pension fund getting exposure to Bitcoin.
• 4:51
  You have banks like JP Morgan, Wells Fargo getting exposure to
• 4:56
  Bitcoin via the ETFs. You have the second largest bank
• 5:00
  in Europe, BNP Paribas, getting exposure to the ETF through
• 5:05
  getting exposure to Bitcoin through the ETF.
• 5:07
  You have Goldman Sachs with the traditionally very conservative
• 5:10
  bank getting exposure to Bitcoin via the ETF.
• 5:14
  You have Michael Saylor continuing to prove that the
• 5:17
  Bitcoin strategy that MicroStrategy has adopted is
• 5:20
  just like literally destroying the competition.
• 5:24
  He MicroStrategy has literally proven that just by adopting
• 5:30
  Bitcoin you will out compete the rest of the S&P 500.
• 5:34
  Since MicroStrategy adopted a Bitcoin standard back in 2020,
• 5:39
  the stock is up like 1600%. It is something wild.
• 5:43
  Of course you have the Kingdom of Bhutan mining Bitcoin.
• 5:47
  The Kingdom of Bhutan has 13,000 Bitcoin.
• 5:50
  Like holy cow. Of course you have a Paraguay,
• 5:55
  you have El Salvador. And now we have it confirmed
• 5:58
  that the UAE, this very small country in the Middle East,
• 6:03
  basically makes up 4% of the hash rate.
• 6:06
  Like we had news that Russia, Russia, Vladimir Putin legalized
• 6:11
  Bitcoin mining. So you put all the pieces
• 6:14
  together. This is exactly what Max Kaiser
• 6:16
  predicted when he was talking about the global hash war.
• 6:20
  And of course, this lines up perfectly for an explosive 2025.
• 6:26
  After we get out of this consolidation area.
• 6:29
  Here is a clip from the digital assets conference that BlackRock
• 6:35
  hosted or at least BlackRock kind of presentation of.
• 6:37
  And here they're they're just putting out the numbers.
• 6:40
  The fact is that Bitcoin is being adopted on a faster pace
• 6:46
  than the Internet and mobile phones.
• 6:48
  That should tell you everything you need to know.
• 6:51
  And by the way, we are still so freaking early to this.
• 6:55
  So this is a pretty long clip. I'll play you guys some of it.
• 6:57
  Let's check it out. Brock I really spend a lot of my
• 7:00
  time thinking about the future and some of the disruptive
• 7:02
  changes that are impacting the world and society and the
• 7:05
  economy and our portfolios around us.
• 7:07
  Often times this is about disruptive technologies.
• 7:10
  Often times it's about societal changes.
• 7:12
  But what we found with blockchain and digital assets is
• 7:15
  that in some ways this is one of the fastest growing technologies
• 7:18
  we've seen in the last few years.
• 7:20
  On the right hand side of the chart, you can see our adoption
• 7:22
  curve. This is just looking at how
• 7:23
  quickly certain assets are adopted by society.
• 7:26
  And you can see that blockchain and digital assets are being
• 7:28
  adopted faster than major revolutions before it, whether
• 7:31
  that's the Internet or whether that's cell phones.
• 7:33
  And there's a couple of reasons for this.
• 7:35
  The first reason is just we're living in a more digital economy
• 7:38
  than ever before. If we're consuming things
• 7:40
  online, streaming videos, playing video games, buying
• 7:43
  digital content, it makes sense to have digitally native assets
• 7:46
  to conduct those transactions, particularly when there's
• 7:49
  Secondly, and importantly, in a year like this year, where over
• 7:52
  half the world's population is voting for new leadership, not
• 7:54
  just the elections in the United States, Mexico and India and the
• 7:57
  European Union, we're seeing more geopolitical risk than
• 8:00
  before. And in fact, declining trust in
• 8:02
  institutions, whether that's trust in government institutions
• 8:06
  for maintaining peace and order, whether that's trust in central
• 8:08
  banks in terms of keeping inflation under control.
• 8:11
  More distrust has exacerbated a need for a global monetary
• 8:14
  alternative. The third we're seeing is
• 8:17
  demographic changes, the rise of the millennial and Gen.
• 8:19
  Z generation. Millennials, at least in the
• 8:21
  United States, are set to inherit trillions of dollars,
• 8:24
  are entering peak earnings years in their in their work and are
• 8:27
  increasingly playing an important role in the economy.
• 8:29
  And millennials are very different from previous
• 8:31
  generations because they, we, me, we're the 1st generation to
• 8:35
  be digitally native. Growing up with the Internet,
• 8:37
  growing up with computers, we understand digital better than
• 8:40
  previous generations. And that means we're more likely
• 8:43
  to adopt digital currencies. And then finally, what I think
• 8:46
  has been really important to BlackRock in our journey in the
• 8:49
  digital assets space has been the maturing of infrastructure
• 8:52
  in digital assets. We've seen billions of dollars
• 8:54
  move in venture capital and private equity into digital
• 8:56
  assets to fund incredible innovation in blockchain.
• 8:59
  We've seen the regulatory environment evolve to get more
• 9:02
  constructive around digital assets and how people can buy
• 9:04
  them. We've seen extremely talented
• 9:06
  people leave traditional finance to go into D fi to help lead
• 9:09
  some of these innovations. And all of this infrastructure
• 9:12
  has really matured over the last five years.
• 9:14
  So between all of these tailwinds, it's really creating
• 9:17
  the opportunity for digital assets to gain broader adoption
• 9:20
  across more investors around the world.
• 9:24
  So just kind of leave it at that.
• 9:25
  I mean, Opti, I'm going to pass it on to you, man.
• 9:27
  Like this is the perfect storm that is brewing for an
• 9:32
  explosive, explosive end of Q4 heading into 2025.
• 9:39
  And if the Bitcoin cycles repeat themselves, man, like I'm so
• 9:44
  beyond excited, not only from a price standpoint, but also from
• 9:49
  a revolutionary standpoint. Like, you know, you heard the
• 9:52
  Black Rock BlackRock executive talking about it there how
• 9:56
  millennials were just so much more open to adopting, to use
• 10:02
  Blackrock's own words, not mine, a non sovereign alternative to
• 10:07
  local Fiat currencies because of the rise and distrust in
• 10:12
  institutions. So overall this is incredibly
• 10:15
  bullish stuff. You have countries all over the
• 10:18
  world just confirmed UAE. They they, they basically
• 10:23
  represent 4% of the hash rate. I didn't know that was the case.
• 10:26
  Like, we were reading that article last week about how they
• 10:29
  were lowering taxes and all that stuff, and now this guy just
• 10:32
  comes out of nowhere. It's like, yeah, we've been
• 10:33
  immersion mining for years now and we actually represent 4% of
• 10:37
  the hash rate. How many more countries around
• 10:39
  the world are secretly mining Bitcoin or adopting Bitcoin that
• 10:43
  we don't know about? We would not have found out
• 10:46
  about the Kingdom of Bhutan if it wasn't for the Celsius
• 10:49
  lawsuit leaking the fact that they were a part of it.
• 10:53
  If it wasn't for the Celsius lawsuit, the Kingdom of Bhutan
• 10:57
  wouldn't have said anything. They would have just kept it to
• 10:59
  themselves, right? So how many more countries
• 11:02
  around the world are either secretly mining Bitcoin,
• 11:05
  adopting Bitcoin, and of course, for anyone who's a Bitcoin
• 11:08
  hodler, for anyone who believes in the Bitcoin revolution, all
• 11:11
  of this is incredibly bullish because all of a sudden those
• 11:15
  institutions and those countries, their incentives
• 11:18
  start to line up with yours. And all of a sudden, as a
• 11:21
  sovereign individual, you are going to, it's going to get to a
• 11:25
  point where you're going to have the power to be able to pick and
• 11:30
  choose what jurisdiction you want to live in based on the
• 11:34
  laws and regulations of that locality.
• 11:37
  Anyways, Opti, what's your take on all this, man?
• 11:39
  Incredibly bullish news coming out of the UAE.
• 11:41
  And of course, incredibly bullish news coming out of
• 11:43
  BlackRock. Once again, Larry Fink wins
• 11:46
  employee of the month. Can't thank him enough.
• 11:49
  Anyways, Opti, what's your take? Yeah, First of all, shouts out
• 11:52
  to Uncle Larry pumping our bags. But yeah, like the UAE news,
• 11:57
  we've been covering it for a while now.
• 11:59
  We've heard a lot of rumors about that this was the case.
• 12:02
  And to actually hear someone that is more familiar with the
• 12:06
  situation say essentially like, yeah, we have 4% of the world's
• 12:09
  hash rate. That's that's pretty crazy.
• 12:12
  You know, that that that's a pretty big number there.
• 12:15
  And it just goes to show that this is catching on and more
• 12:20
  people are waking up to this whole Bitcoin thing going on
• 12:23
  right now. And I've been saying for a
• 12:25
  while, and obviously we've been covering the data on the show
• 12:29
  and we, you know, we, we really can only see from news stories
• 12:33
  and information trickling out that this is catching on.
• 12:37
  And I've been saying that for a minute, Nico, the exact words
• 12:39
  you said that there's a perfect storm on the horizon.
• 12:42
  And it seems ever since the ETF got released, it seems since
• 12:47
  ever since, you know, Trump even announced that he's being more
• 12:49
  pro Bitcoin, or rather more crypto, though it seems like the
• 12:52
  game theory has shifted and obviously shifted in our
• 12:55
  direction. And I really do think that 2025
• 12:59
  is going to be a big year. Obviously, as someone that's in
• 13:03
  the Bitcoin space, maybe someone newer to the Bitcoin space, you
• 13:05
  always kind of want to point at certain news stories and use
• 13:09
  that as, you know, the reasons for the Bitcoin price to pop up.
• 13:13
  Maybe I'm still, you know, a Luddite here, but I just think
• 13:17
  it's still kind of the cycles playing out right now.
• 13:19
  I don't think we're out of this cycle theory yet.
• 13:22
  I don't think we're in super cycle territory yet, but it does
• 13:26
  feel like there's a lot of data points and this time does feel
• 13:29
  different. Obviously, I feel like a cliche
• 13:32
  Bitcoiner here because we say this every time the price starts
• 13:35
  pumping. Like this time's different, I
• 13:37
  swear, guys. But this time is fundamentally
• 13:40
  different. Now that we have institutional
• 13:42
  capital being able to allocate to Bitcoin, we're seeing nation
• 13:45
  state adoption of Bitcoin play out.
• 13:47
  It does feel like this cycle will be different.
• 13:50
  Does that mean that we're going to get out of the cycle theory
• 13:53
  in the next four years? I'm still kind of hesitant to
• 13:56
  say that we're out of the cycle theory.
• 13:58
  But you know, historically speaking, it's usually I forget
• 14:02
  that the exact number, but I'm pretty sure that the number that
• 14:05
  we've been using historically is that basically 170 days after
• 14:09
  the halving is when the price starts to run.
• 14:12
  And we're at I think we're around like 177 days since after
• 14:16
  the halving. So it does seem to be aligning
• 14:19
  perfectly to historical data. Of course, we only have three or
• 14:22
  four data points on this and we're still kind of seeing if
• 14:27
  the cycle theories are playing out.
• 14:28
  But I, I think it's just kind of, this is the time when
• 14:31
  Bitcoin starts to run. But with all these other data
• 14:34
  points, it does feel a little different and things are
• 14:37
  changing. Yeah, 100 percent, 100%.
• 14:40
  All right, ladies and gentlemen, before we get into the rest of
• 14:44
  the show, guys, stay tuned because we have so much news to
• 14:47
  cover, so much bullish news. Of course, the double standards
• 14:51
  behind the DOJ, how they treat banks, and then how they treat
• 14:55
  the rest of the industry, something that we've been
• 14:57
  covering for quite a while now. And, of course, Elon Musk's
• 15:00
  historic rocket. Landing.
• 15:04
  I mean, it wasn't even a landing.
• 15:06
  It was being caught by like this giant arm, which was it was
• 15:09
  crazy. And I think it's a kind of
• 15:11
  indicative of, of what Bitcoiners are advocating for.
• 15:15
  Like one of the one of the major talking points that you always
• 15:18
  hear is like, who will build the roads?
• 15:20
  And what Bitcoiners are going to advocate for is like the private
• 15:24
  sector tends to do a much better job at resource allocation than
• 15:30
  the public sector. And I think that's something
• 15:33
  that people have to people just, I don't want to say come to
• 15:38
  terms, it's a little bit strong, but people just, I think you
• 15:42
  should be aware of it because that's one of the that's going
• 15:44
  to be one of the talking points that you're going to hear from a
• 15:47
  lot of people when Bitcoiners advocate for smaller and smaller
• 15:52
  and smaller government. Because a lot of the economic
• 15:55
  woes that people are currently feeling, specifically on the
• 15:58
  rise of the cost of living. As much as politicians want to
• 16:03
  gaslight you into believing that, you know, it's everything
• 16:06
  and anything, but the fact that they're debasing the currency, a
• 16:10
  lot of the, a lot of the reason as to why people can't afford
• 16:13
  things is because of way too much government spending.
• 16:18
  That's the reality of it. And here's the thing, if the
• 16:21
  government spending was justified, then OK, you know,
• 16:24
  you can make an argument and you could say, OK, you know, my life
• 16:27
  is better for it. But I would like to make the
• 16:29
  case that I think the private sector could not only do a lot
• 16:33
  of the things that the government does, they could do
• 16:36
  it a lot in a lot more efficient manner and in a hell of a lot
• 16:40
  cheaper. That's my case.
• 16:42
  But anyways, before we jump into that, I do want to give a very
• 16:47
  special shout out to Simply Bitcoins lead sponsor.
• 16:51
  We wouldn't be here without our sponsors, and of course, our
• 16:54
  lead sponsor is bitcoinwell.com. Start enabling your independence
• 16:59
  today with the fastest and safest way to buy Bitcoin in
• 17:02
  Canada and the USA. Buy real Bitcoin.
• 17:05
  And to get started, all you got to do is you put in your e-mail
• 17:08
  address right here on bitcoinwell.com.
• 17:11
  It's a clear 1% spread it's obviously Bitcoin only and what
• 17:15
  makes Bitcoin well different is that it's completely non
• 17:18
  custodial, empowering sovereign ownership with free automatic
• 17:23
  self custody. So what does that mean That
• 17:26
  means that every time you buy Bitcoin on Bitcoin well, as soon
• 17:30
  as the funds clear, it goes straight from your bit from
• 17:35
  Bitcoin Well straight to yourself Custody Bitcoin wallet
• 17:38
  address doesn't even give you the ability to leave it on the
• 17:41
  exchange. By the way, every time you buy
• 17:44
  Bitcoin on Bitcoin Well, you earn Bitcoin well points and you
• 17:47
  could use those points towards the Bitcoin wishing well
• 17:50
  contest. So we'll do it for you guys
• 17:52
  right here get your lightning while it's ready First person to
• 17:55
  scan the QR code wins today's prize.
• 17:58
  Today's prize is 500 satoshis. Every time you toss a coin into
• 18:03
  the Bitcoin wishing well, you have an opportunity to win up to
• 18:06
  1,000,000 Satoshis. I heard the other day that on
• 18:10
  BTC sessions channel someone won 240,000.
• 18:13
  I think on our channel the highest the wards have been have
• 18:16
  been 24,000. That happened 2 days
• 18:19
  back-to-back. So you know you're off, you're
• 18:21
  off. It's 210,000 and 21,000.
• 18:24
  Thank you, thank you, Opti, but you, you never know.
• 18:26
  You never know. So if you use promo code simply
• 18:29
  BTC to sign up to bitcoinbitcoinwell.com today,
• 18:33
  you get 3 tosses into the Bitcoin wishing well absolutely
• 18:37
  free. All right, ladies and gentlemen,
• 18:39
  let's get to numbers. We have lots to talk about.
• 18:41
  Let's check it out. All right, everybody, before we
• 18:51
  jump into it, I do want to give a shout out to our sponsor,
• 18:53
  Stamp Seed. Usually when you buy yourself a
• 18:56
  hardware wallet, it comes with a piece of paper and you're meant
• 18:58
  to write in your seed words on that piece of paper.
• 19:02
  Problem is that paper is prone to water damage, fire damage.
• 19:06
  Your dog could eat it. That's not the proper way to
• 19:09
  store your generational wealth. The proper way is to literally
• 19:13
  stamp your seed, your seed phrase into a plate of titanium.
• 19:18
  And that's exactly what the Stamp Seed kit allows you to do.
• 19:22
  It's a titanium seed phrase storage kit.
• 19:24
  It comes with the hammer. It comes with the letter
• 19:27
  stamping tools. It comes with the anvil, comes
• 19:29
  with everything you need so that from the privacy of your own
• 19:33
  home, you can literally letter by letter, stamp your seed into
• 19:37
  a plate of titanium which is going to survive the test of
• 19:41
  time. It's they put a blowtorch to it,
• 19:44
  it survived. They pressed it with like a
• 19:46
  press, It survived. I got crushed.
• 19:49
  The data survived. They put it in salt water, the
• 19:52
  data survived. Your dog's probably not going to
• 19:54
  want to eat. Eat a plate of titanium.
• 19:56
  This is the proper way to secure your generational wealth.
• 20:01
  Your seed words. Get yourself a stamp seed
• 20:04
  titanium seed frayed storage kit today.
• 20:06
  Use promo code simply to get 15% off anything on the store.
• 20:11
  Scan the QR code or check the link in the video description.
• 20:14
  At the time of recording the Bitcoin price, we're a little
• 20:17
  bit down. We were at 66 K this morning.
• 20:19
  We're at 65,750 sats for a dollar 1000.
• 20:24
  And 521 block height 865,626 realize monetary inflation 1.3%
• 20:33
  market capitalization 1.3 trillion Bitcoin versus gold
• 20:38
  market cap 7.03% money supply 19,767,364 BTC percentage issued
• 20:49
  94.13%. In the grand scheme of things,
• 20:53
  we are just getting the party started as the theme of today's
• 20:57
  show. Anyways, I wanted to move on to
• 21:00
  something that I believe is extremely hypocritical because
• 21:04
  it's a double standard. And one of the things that I'll
• 21:07
  say is that remember why Bitcoin was discovered.
• 21:11
  Remember why Bitcoin was invented by Satoshi in the
• 21:15
  genesis block, it says, Chancellor, on the brink of the
• 21:18
  second bailout for banks, Satoshi inherently knew that the
• 21:23
  US government or governments around the world, we're going to
• 21:26
  continue to bail out banks. They were going to continue to
• 21:29
  bail out central banks. And there's there's evil
• 21:32
  alliance between central banks and governments where central
• 21:37
  banks essentially funds all the government spending.
• 21:41
  And of course, politicians create a regular vote so that
• 21:44
  the central banks can continue doing this.
• 21:46
  The problem is, as much as governments have pitched us on
• 21:50
  the idea that central banks actually introduced stability to
• 21:54
  the economy, it's important to remember that this two largest
• 21:58
  financial crises in world history, the 2008 recession and
• 22:03
  of course the 1929 to 1933 the Great Depression, all happened
• 22:10
  under central banking. I also don't think it's a
• 22:13
  coincidence that the two largest world wars in world history,
• 22:18
  World War One and World War 2, all happened during central
• 22:23
  banking. I don't think any of that is a
• 22:25
  coincidence. Now, why am I saying all of
• 22:27
  this? Well, I want to highlight the
• 22:29
  double standard between how the US government treats people that
• 22:34
  are part of our industry rather than how they treat people that
• 22:38
  are officially part of the banking industry.
• 22:41
  So of course, we all know that the finance founder CZ was
• 22:45
  sentenced to four months in prison after plea deal.
• 22:48
  So finance CZ, the finance founder CZ pleaded guilty to
• 22:54
  money laundering violations in November and was sentenced to
• 22:57
  four months in prison on Tuesday.
• 23:00
  This isn't just an isolated incident.
• 23:05
  Arthur Hayes, CEO of Bitmex Arthur Hayes in his plea deal
• 23:11
  guilty to 1 count of violated Bank Secrecy Act in February and
• 23:16
  faced a sentence of up to 12 months in prison.
• 23:20
  And of course, we all know what happened to the Samurai
• 23:24
  developers. First they started with the
• 23:27
  Tornado Cash developers. Once they set precedent and the
• 23:32
  Coin Center case was was dismissed by a judge.
• 23:38
  Then they shortly after they attacked the Samurai Wallet
• 23:42
  developers and the US government, specifically
• 23:45
  Department of Justice, accused the two developers with
• 23:48
  operating Samurai Wallet, an unlicensed money transmitting
• 23:52
  business that executed over $2 billion in unlawful transactions
• 23:56
  and laundered over 100 million in criminal proceeds.
• 24:00
  Now you'll hear, you'll see a common theme between all of
• 24:04
  this. So whether it's CZ, Arthur Hayes
• 24:07
  or Bitcoin privacy developers, they all got locked in a box.
• 24:13
  They were arrested, they were put in a box because of what
• 24:17
  they were doing. But here's the problem.
• 24:20
  The problem is the double standard.
• 24:23
  The problem is it's rules for thee but not for me.
• 24:28
  That is the fundamental issue. So here's Peter St.
• 24:32
  Onge and he says you'd go to jail for decades.
• 24:35
  They just pay a fine. At some point.
• 24:37
  It's licensed crime. And I would make the case that
• 24:41
  they just see it as a cost of doing business.
• 24:43
  Why aren't any TD executives like why, why, why don't they
• 24:50
  get held accountable for this? Let's check out the official DOJ
• 24:56
  press conference held by Attorney General Merrick
• 24:59
  Garland. I'm not hearing anything, Nico.
• 25:13
  Oh is it glitching out sometimes?
• 25:14
  It does this here. Let me try that.
• 25:22
  How about now, Opti? I'm still not hearing anything.
• 25:26
  OK, unfortunately, guys, Yeah, let me.
• 25:27
  See if I can pull it up real quick.
• 25:29
  Yeah, so while Opti does that, I'll, I'll kind of narrate this.
• 25:34
  But unfortunately, guys, here's the deal.
• 25:36
  Look, so TD Bank fined $3 billion for enabling drug cartel
• 25:43
  money laundering, the largest penalty of its kind in U.S.
• 25:47
  history. So here Opti has it pulled up.
• 25:50
  Let's see if that works. One, before we get started, I
• 25:55
  want to extend my sympathy to the millions of Americans who've
• 26:00
  had their lives turned upside down by Hurricane Milton and
• 26:03
  Hurricane Helene. I know I speak for all of us and
• 26:06
  expressing my gratitude to the first responders on the ground
• 26:10
  who are carrying out rescue missions.
• 26:12
  And I want to thank all the volunteers who are helping their
• 26:14
  neighbors get through these storms.
• 26:17
  Now to the subject of today's announcement.
• 26:19
  Today, TD Bank pled guilty to multiple felonies, including
• 26:23
  conspiring to violate the Bank Secrecy Act and commit money
• 26:26
  laundering. TD Bank has also agreed to a
• 26:28
  $1.8 billion criminal penalty. Combined with civil enforcement
• 26:32
  actions announced today by other agencies, the United States will
• 26:35
  be imposing a total of approximately $3 billion against
• 26:39
  TD Bank. TD Bank created an environment
• 26:42
  that allowed financial crime to flourish by making its services
• 26:45
  convenient for criminals. It became 1.
• 26:48
  Today, TD Bank became the largest bank in U.S. history to
• 26:51
  plead guilty to Bank Secrecy Act program failures and the first
• 26:54
  bank in history to plead guilty to conspiracy to commit money
• 26:57
  laundering. This is also the largest ever
• 27:00
  penalty under the Bank Secrecy Act and the first time the
• 27:02
  Justice Department has assessed a daily fine against a bank.
• 27:06
  As part of the plea agreement, TD Bank will fundamentally
• 27:10
  restructure its corporate compliant program and its US
• 27:13
  based bank, which is the 10th largest in the United States.
• 27:16
  The bank has also agreed to the imposition of a three-year
• 27:19
  monitor ship and a five year term of probation.
• 27:22
  While the bank has started it's remediation, it will continue to
• 27:25
  remediate and improve it's anti money laundering compliance
• 27:27
  program to ensure that the bank operates lawfully and safely
• 27:31
  moving forward. OK, so the problem ladies and
• 27:37
  gentlemen is the double standards, OK?
• 27:43
  The, the, the problem is, is, is this OK?
• 27:48
  So same, same violation, money laundering, right, with Arthur
• 27:55
  Hayes, one count of violating the Bank Secrecy Act right here
• 28:03
  that executed over 2 billion unlawful transactions and
• 28:06
  laundered over $100 million in criminal proceeds, according to
• 28:10
  the DOJ. This, they wandered
• 28:16
  significantly more. Why I, I, I don't understand
• 28:21
  why, like I, I don't know what to say.
• 28:31
  They did the same thing that our industry did, but because
• 28:36
  they're a bank, they get a fine and we get put in a box.
• 28:47
  I, I, I don't understand. Explain that to me, please.
• 28:51
  I don't get it. And this is something that has
• 28:55
  happened over and over again, whether it's Chase, HSBCHSBC got
• 29:04
  caught laundering money for the Mexican drug cartels.
• 29:09
  So I don't understand why is it that when our industry breaks
• 29:16
  their regulations, we get locked up in prison and when the banks
• 29:22
  do it, they get a fine, that that's the problem?
• 29:30
  This is the issue. This is the issue, that it's
• 29:33
  hypocrisy. It's rules for thee and not for
• 29:37
  me. And I'll tell you why.
• 29:39
  It's a rhetorical question. I'll tell you why.
• 29:43
  The reason is that our system is is outside their purview.
• 29:47
  So they're trying to make an example.
• 29:49
  That's what it's about. This is disgusting.
• 29:54
  This is despicable. I remember when they held the
• 29:57
  same press conference for CZ, they mentioned the world, the
• 30:01
  word terrorism like 50 times. They had Janet Yellen up there,
• 30:05
  Merrick Garland. I believe they have Majorca's up
• 30:08
  there as well. But when the three like look
• 30:17
  here is burn the bridge. And he says TD banks money
• 30:20
  laundering conspiracy charges handles $18.3 trillion users,
• 30:24
  funds $3 billion fine. Samurai wallet, money laundering
• 30:29
  conspiracy charges, handles 0% users, funds drones, armored
• 30:34
  vehicles, pre dawn raids, developers indicted, server
• 30:38
  seized facing 25 year sentences left This dystopia.
• 30:42
  I I don't understand please make this make sense to me because
• 30:48
  you can't lecture me on justice legal like we're all equal under
• 30:54
  the law. You can't let you can't look at
• 30:57
  me in the face and tell me that you know it's equal justice.
• 31:01
  You should have followed the rules.
• 31:03
  That's bullshit. No banker went to jail for the
• 31:07
  crime that happened in 2008. No banker went to jail for what
• 31:12
  happened during HSBC, when Christine Lagarde, who was the
• 31:18
  head of the IMF and now is the head of the European Central
• 31:21
  Bank. When she got charged with a
• 31:23
  crime, they promoted her to the head of the European Central
• 31:29
  Bank. But when our industry does it,
• 31:32
  they put us in a box. What's up with Julian Assange,
• 31:38
  man? What's up with Ross?
• 31:41
  Ross got what, three life sentences?
• 31:45
  And these bankers, they get a fine.
• 31:50
  That is not right. That is not right.
• 31:54
  That is a double standard. That is not equal justice before
• 31:58
  the law. This is the literal definition
• 32:03
  of a cabal. This is the literal definition
• 32:06
  of a mafia. I can't I can't describe it in
• 32:09
  any other way. This is injustice in so many
• 32:13
  different ways. When we do it box when they do
• 32:17
  it, oh, you get a fine. And they don't even name the
• 32:21
  executives. They just said the the
• 32:23
  organization TD Bank. They don't they so so why can't
• 32:28
  they just find Binance? Why couldn't they find bit
• 32:32
  mechs? Bitmex broke these rules.
• 32:36
  No, no, no, no. It was the CEO.
• 32:38
  What about the CEO of TD Bank? Is he not held responsible for
• 32:43
  any of this? This is insane.
• 32:47
  This is insane. This is not equal justice.
• 32:50
  This is rules for thee. These are.
• 32:53
  They are exempt from the same laws we are meant to follow.
• 32:58
  They expect us to follow those wrong laws and take them
• 33:02
  seriously while they're lecturing us on a podium about,
• 33:06
  you know, your safety and all this bullshit.
• 33:10
  But then we get locked in prison and they get a fine.
• 33:15
  If it was the same standard, I wouldn't, I wouldn't say
• 33:20
  anything. But the fact that it's a double
• 33:22
  standard makes it an injustice and it makes it not right.
• 33:26
  It's not ethical. And the reason they get away
• 33:30
  with this isn't because they're in cahoots with these people.
• 33:36
  The bankers are in the cahoots with the government.
• 33:39
  That's what it's all about. And the Bitcoin industry is
• 33:43
  outside of that ecosystem and it's not in cahoots with the
• 33:46
  government. So they're weaponizing their
• 33:51
  monopoly violence to go after our industry.
• 33:54
  But at the same time, they just give out fines even though they
• 33:59
  break the exact same law. And I can even make an argument
• 34:02
  that they broke the law to a much larger extent.
• 34:06
  Someone in the comments says multi tiered justice system.
• 34:08
  How is it not? Please explain it to me.
• 34:11
  I, I, I want just like I, I, I just want it answered.
• 34:15
  How is this ethical? We've been getting beat up with
• 34:20
  a metaphorical 2 by 4 as an industry for the last 3 1/2
• 34:24
  years. Not going to lie, it's been
• 34:26
  operation choke point 2.0 when a bank gets caught red handed
• 34:33
  money laundering breaking the same laws.
• 34:36
  They get a fine when we do it. They literally radar shit, lock
• 34:42
  us in a box and say that Bitcoin enables money laundering.
• 34:46
  Here's the reality check. The vast majority of illicit
• 34:50
  finance is conducted using the traditional financial system.
• 34:56
  It is not conducted using Bitcoin.
• 34:59
  But we are the scapegoat. That is bullshit and it's our
• 35:03
  job to highlight it. Anyways, Opti, what's your take
• 35:05
  on all this? Yeah, Well, personally, I'm not
• 35:08
  surprised this is the case. It's just becoming more and more
• 35:11
  obvious to more people that if you have enough money, you can
• 35:15
  basically break any, any law, and all you have to do is pay a
• 35:19
  fine. Again, I became a man.
• 35:22
  You know, I came of age during 2008 financial crisis and it
• 35:25
  was, it's like we're seeing this all over again, though.
• 35:28
  I think the funniest part is that they are coming out here
• 35:30
  and parading it like they, you know, did something really good
• 35:33
  by getting this huge fine. But when you really dig into the
• 35:36
  detail, it's like if you have enough money, you can break any
• 35:41
  law and you just pay the fine. If you look at the numbers of
• 35:44
  how much money TD Bank has made in profit, that 3 billion, I
• 35:48
  thought it was 1.8 billion, But apparently all the government
• 35:51
  agencies kind of wanted to pick the pockets.
• 35:53
  And then, you know, they added more fines on top of it.
• 35:55
  I think 3 billion is something like, I don't know, like
• 35:59
  somewhere around like 2 to 3% of all the profits that they've
• 36:02
  made the last 10 years when they supposedly been breaking this
• 36:04
  law. And so it's just like it's a
• 36:06
  slap on the wrist again for most people out there that aren't
• 36:11
  aware of what I would argue the illegitimacy of the institutions
• 36:15
  and the system, the justice system we're a part of.
• 36:19
  It should be a wake up call to most people that this is just
• 36:23
  the status quo. We know it's all downhill from
• 36:26
  the money. We know that the bankers in the
• 36:28
  lobbyists control the government.
• 36:29
  And then we have the media that gets paid by the infinite money
• 36:32
  printers out there to justify all of this crazy stuff going
• 36:36
  on. So hopefully sooner than later,
• 36:39
  more people are waking up to the fact that this is an
• 36:41
  illegitimate system and they, the powers that be are out here
• 36:46
  robbing the coppers as quickly as possible and and the media is
• 36:49
  out here to just cover for them and ensure that this the game
• 36:53
  keeps going. But as we argue on the show
• 36:56
  constantly, this system can only go on as long as people trust
• 37:00
  the system. But I think we're wake or at
• 37:01
  least getting to a point right now, a cross section, a
• 37:05
  crossroad here where more people are waking up and they're going
• 37:09
  to start to ask themselves, why am I using this money?
• 37:11
  Why am I using the enemy's money when we have a better option
• 37:14
  that is of course Bitcoin and I can opt out of this stuff.
• 37:17
  Obviously, I don't think it's enough for us to just kind of
• 37:20
  like bury our heads in the sand and and create like, you know,
• 37:24
  parallel communities. I think that's part of the
• 37:26
  solution. But I think it's becoming more
• 37:28
  and more obvious that as the citizens here, you know,
• 37:32
  especially in America, this is supposedly a country run by we
• 37:35
  the people. I think we need to get involved
• 37:37
  in and try to wake up more people and be like, look, let's
• 37:39
  let's reclaim some power here. Because the, the elite class,
• 37:44
  the unproductive class, the administrative state, whatever
• 37:46
  you want to call it, are out here Wilding.
• 37:48
  And they are literally stealing as much wealth from the the
• 37:52
  middle class and the lower class as possible.
• 37:55
  And then they're, you know, continuing to deploy these
• 37:58
  divide and conquer strategies. And they're all, well, not, I
• 38:01
  would argue, not bitcoiners, but for the majority of people,
• 38:04
  they're out here, you know, shooting, shooting arrows across
• 38:07
  the bow. And it's really like, it's not
• 38:10
  the other side of the aisle that's the problem.
• 38:12
  It's literally the people in power.
• 38:13
  And now we're getting more and more exposure to the problem.
• 38:17
  And people are hopefully waking up to this.
• 38:19
  But I think it's only going to get worse before it gets better.
• 38:22
  But I think now is kind of going into what we would argue on
• 38:26
  Twitter like the Great Awakening.
• 38:28
  And with that comes, you know, the great SIOP where they have
• 38:31
  to continue to misdirect information and misdirect our
• 38:34
  attention. But I think we are getting to a
• 38:39
  focal point here. I think we're getting to a
• 38:41
  tipping point where people are starting to wake up and notice,
• 38:44
  and hopefully more people start to adopt Bitcoin because, you
• 38:48
  know, hashtag Bitcoin fixes this.
• 38:51
  Yeah, 100%. And, and, and like when the
• 38:53
  Black Rock executive was talking about it in the beginning where
• 38:57
  he was like, yeah, people are like not trusting institutions.
• 39:00
  This is why, right when Hillary Clinton was talking about how
• 39:05
  they must censor social media or they'll they'll lose control,
• 39:09
  this is what she's referring to. Like look, if government, we
• 39:15
  trusted the government with money, they abuse that trust and
• 39:20
  then they're getting upset that we found a non sovereign
• 39:24
  alternative that is uncorruptible, right?
• 39:28
  Like that's not my problem. It's not my fault that you
• 39:32
  designed the entire system on the ability for you to Co opt an
• 39:39
  intermediary. Now that the now that
• 39:43
  individuals could take self custody of their own wealth and
• 39:48
  by doing so their own destiny. Like, and you're going to try to
• 39:52
  demonize that and you're going to try to demonize and attack
• 39:57
  the, the the off ramps while you guys are guilty of the things
• 40:01
  that you guys are accusing us of.
• 40:04
  I'm sorry, I don't want to be lectured by that.
• 40:06
  That's that's BS. I'm sorry guys, that's that's
• 40:10
  BS. If you guys held yourselves to
• 40:13
  the same standards. That you hold the Bitcoin and
• 40:17
  crypto industry to I this would be a different conversation.
• 40:22
  But you can't look at me with a straight face and look at me in
• 40:26
  the eye and prayed yourself behind this official emblem in
• 40:30
  this suit and talking to me how pat yourselves on the back and
• 40:34
  telling me how you're protecting the American people.
• 40:38
  They get fines, we get jail sentences.
• 40:43
  That's bullshit. Not surprising, but that's
• 40:45
  bullshit. And you want to know why us
• 40:48
  younger generations and give it, give it credit because there's a
• 40:51
  lot of awesome Bitcoin boomers out there.
• 40:53
  But the the millennials and the Gen.
• 40:56
  Z ers that are adopting Bitcoin out of necessity.
• 41:00
  You want to know why we don't trust the system?
• 41:02
  There's a great example right there.
• 41:04
  It's right there. It's it's it's not equal
• 41:06
  justice. It's rules for thee but not for
• 41:10
  me, rules for the politicians in DC and then rules for everyone
• 41:15
  else. And that's going to end anyways.
• 41:17
  Everybody, let's get to news. We have a lot to talk about.
• 41:20
  Stay tuned. Elon had a historic moment.
• 41:23
  The world had a historic moment. We literally saw a rocket the
• 41:27
  size of a 35 story building literally land getting caught by
• 41:33
  a giant metal arms. And it was one of the most
• 41:37
  insane things I've ever seen in my life.
• 41:39
  So stay tuned because we're going to talk about literally
• 41:42
  what is the role of government in people's lives?
• 41:45
  Are you getting the value back in terms of what you're paying
• 41:49
  for in taxes? And I'm not just talking about
• 41:51
  income tax. That's a whole other debate
• 41:53
  which I don't want to get into. I'm talking about the tax of
• 41:57
  inflation. Are you getting your monies
• 41:59
  back? And I would like to make the
• 42:01
  case that the answer is no. And a lot of the, a lot of the,
• 42:05
  the, the, the cases against that would say, Nico, what about the
• 42:09
  roads? And I would say, I think the
• 42:11
  private sector would build the roads a whole lot better than
• 42:15
  the, the, the so-called public sector.
• 42:18
  Anyways, guys, it's, it all comes down to incentives at the
• 42:21
  end of the day. All right, everybody, let's move
• 42:23
  on to news. Lots to talk about.
• 42:24
  Let's check it out. Special shout out to our sponsor
• 42:29
  Compass Mining. They make Bitcoin mining
• 42:32
  accessible to everyone from beginners to experienced
• 42:36
  investors. Their turnkey miners gets you
• 42:39
  online and hashing within 48 hours, making it easier than
• 42:43
  ever to start your mining journey.
• 42:46
  Plus, with their active marketplace, you can resell your
• 42:49
  miner at any time, adding flexibility and value to your
• 42:53
  investment. Visit their website to access a
• 42:56
  wealth of resources, learning everything you need to know
• 42:59
  about Bitcoin mining. Take your first step into the
• 43:03
  world of Bitcoin mining with confidence.
• 43:05
  Discover more at Compass Mining dot IO.
• 43:08
  Again, Compass mining dot IO and see how Compass Mining can power
• 43:14
  your success. I want to give a shout out to
• 43:24
  our sponsor foundation. It's self custody done right.
• 43:27
  They've built a premium grade. Hardware wallet called.
• 43:30
  Passport right here in the US and it integrates seamlessly
• 43:34
  with their free app called Envoy.
• 43:37
  Passport is fully open source and verifiable.
• 43:40
  It's the most intuitive Bitcoin wallet design with a UX
• 43:43
  reminiscent of a classic feature phone, so you'll know how to
• 43:47
  navigate it and use it the moment you pick it up.
• 43:49
  It's also air gaps, meaning Bitcoin stays offline, never
• 43:53
  touching an Internet connection. It's Bitcoin only open source,
• 43:57
  verifiable, air gap security model, gorgeous design, craft
• 44:01
  premium grade materials. Get your Bitcoin off exchanges
• 44:05
  and into your own hands in just a few minutes with Passport at
• 44:08
  foundation dot XYZ slash. Simply get Peace of Mind for
• 44:12
  your piece of Bitcoin. All right, everybody, Opti is
• 44:17
  going to model the passport by Foundation Devices today.
• 44:21
  If you use promo code simply, you won't get Opti, but you will
• 44:23
  get a discount to the passport by Foundation devices.
• 44:26
  It's incredibly easy to use. It's very intuitive.
• 44:29
  This is the perfect gift to give to someone who perhaps is a
• 44:32
  little bit intimidated by self custody.
• 44:34
  The passport makes self custody be incredibly convenient without
• 44:39
  sacrificing the security of cold storage Bitcoin.
• 44:44
  So get yourself a passport by foundation devices.
• 44:46
  Use promo code simply to get a small discount.
• 44:49
  Anyways, this happened this weekend.
• 44:51
  This is one of the most insane things I've ever seen and a lot
• 44:56
  of Elon hate. By the way, the same week Elon
• 44:59
  announced the robo taxi and the robo van.
• 45:03
  Literally a freaking car that drives itself.
• 45:05
  Gnarly shit. OK, just freaking gnarly.
• 45:09
  And anyways. And then Mike Solana tweets out.
• 45:13
  What an asshole right? Because there's a lot of people
• 45:16
  that don't like Elon. But I mean, I, I don't know if
• 45:18
  you guys have seen this or you guys have seen this for audio
• 45:21
  listeners here is literally a rocket the size of a 35 story
• 45:25
  building weighing 2500 tons literally getting caught by
• 45:33
  metal arm. It's most insane thing I've ever
• 45:35
  seen. Still not getting out of you,
• 45:42
  Nico. That's just fucking crazy.
• 46:12
  So anyways, the most freaking insane thing I've ever seen.
• 46:18
  And here's the thing about Elon, right?
• 46:21
  And then Optia. I might have to send this to you
• 46:23
  because it looks like. The audio, drop it in the
• 46:25
  private chat, I'll pull it up. The audio's not working on my
• 46:28
  end or it's not cooperating. It's that French Internet bro.
• 46:34
  Yeah, everyone, I'm I'm streaming, I'm going to be
• 46:36
  streaming from from Paris these these next couple of weeks.
• 46:40
  So forgive me for any technical difficulties, but anyways, I'll
• 46:46
  I'll start talking about this opti.
• 46:47
  Let me know when you have it ready 1.
• 46:49
  SEC. Elon has he?
• 46:54
  He tweeted this and this happened October 11th, so he
• 46:57
  tweeted this about 11 days ago. Opti has it pulled up, so I'm
• 47:01
  going to pull mine down. There we go, this is mine.
• 47:05
  Wait, wait. Yeah, this is mine here.
• 47:08
  There we go. All right, so Opti could you?
• 47:11
  So Elon tweeted this about October 11th, and Elon actually
• 47:17
  wants to launch the the he wants to launch a government
• 47:23
  efficiency committee. So he wants to cut down the size
• 47:27
  of government. But here's the thing, ladies and
• 47:29
  gentlemen. Even though he's correctly
• 47:31
  identifying the issues, right? The problem is that voting is
• 47:38
  1/2 measure. So let's say an ideal case, you
• 47:42
  get Trump in office and then you get Elon in office and then you
• 47:46
  know, they cut the size of the government.
• 47:49
  It doesn't address the root problem.
• 47:52
  The root problem is the Fiat money printer.
• 47:55
  Unless you take away the government's ability to create
• 47:59
  money for free that everyone else has to work for, this will
• 48:03
  continue to happen because the government is incentivized for
• 48:09
  this to happen. The only way you you fix this is
• 48:13
  by taking away the government's to create money in the 1st
• 48:16
  place, meaning their only way of raising revenue is via direct
• 48:23
  taxation and they can only do that to a certain extent.
• 48:26
  Before people are saying, you know what, I can't, it's law
• 48:28
  first curve until people start to kind of revolt back and they
• 48:32
  say, no, I don't want to partake in this.
• 48:34
  So Elon is heading in the right direction.
• 48:37
  And I can't emphasize how important that is because again,
• 48:41
  this is a company, his companies, both SpaceX and and
• 48:48
  Tesla. As much as people dislike Elon,
• 48:52
  the reality is that Tesla is the 4th largest company, publicly
• 48:59
  traded company that that that holds Bitcoin right now.
• 49:03
  They currently hold almost 10,000 bitcoins, so 9720
• 49:07
  bitcoins. And SpaceX also is believed to
• 49:11
  own Bitcoin as well, right? So again, you know, and again,
• 49:17
  it was a couple years ago that actually Elon announced that
• 49:20
  that Tesla was going to enable for you to purchase Tesla's in
• 49:25
  Bitcoin. And then he had to, I think he
• 49:27
  was tapped on the shoulder or something and he backtracked.
• 49:31
  So it's kind of like the gold bugs, the tragedy of the gold
• 49:34
  bugs, because the gold bugs identified what the problem was,
• 49:40
  but they had the wrong tool. And I'm telling you with Elon,
• 49:43
  it's like, dude, you are so close.
• 49:45
  You are so close, but you are, you are so far.
• 49:49
  And again, Bitcoin is a bit of a humility test.
• 49:53
  It is you. You have to, you have to humble
• 49:55
  yourself a little bit, right? So anyways, let's play this
• 49:58
  video that Elon reposted from his personal Twitter account a
• 50:02
  couple days ago. I'm not an anarchist.
• 50:05
  I believe in a government, but a limited government, and the
• 50:09
  government should be limited, in my opinion, to very simple
• 50:11
  functions #1 to defending the country against foreign enemies.
• 50:17
  I have tried for a long time to see how to make National Defense
• 50:20
  a private enterprise, and I've never succeeded.
• 50:22
  It's easy to see how to privatize schooling, but I don't
• 50:26
  know how to privatize National Defense.
• 50:28
  A section function of government, and one which it
• 50:31
  performs very, very badly, is to protect the individual citizen
• 50:37
  against abuse and coercion by other citizens to keep you from
• 50:41
  being hit over the head and mugged on the street, your house
• 50:43
  broken into, and so on. And I believe that the
• 50:46
  government performs that function very ineffectively
• 50:49
  because it's doing so many things it has no business doing.
• 50:53
  The third function, government, a very important function, is to
• 50:57
  define the rules of the game we play.
• 51:00
  What's private property? If an airplane flies 10,000 feet
• 51:04
  over your house, is he violating your private property?
• 51:06
  If if he flies 10 feet over your house, is he violating your
• 51:10
  private property? There's nothing natural about
• 51:12
  where the line should be drawn. So we have to have some
• 51:16
  mechanism for making the rules about that, and that is an
• 51:19
  appropriate government function. In fourth, it's appropriate for
• 51:24
  government to provide a mechanism for adjudicating
• 51:26
  disputes about the meaning of those rules, the judicial
• 51:29
  system. Those are the four essential
• 51:31
  functions of government, in my opinion, and those are the only
• 51:35
  functions that are essential. There may be some other areas in
• 51:38
  which if you started with nothing more than that, you
• 51:40
  might. Government might conceivably do
• 51:42
  more good than harm, but from where you are now, if you could
• 51:46
  only move back in that direction, it'd be marvelous.
• 51:50
  OK, so and then again, right, Milton Friedman, absolute, you
• 51:56
  know, you know, genius, everyone agrees to it.
• 51:59
  But why is government not doing those things in the 1st place?
• 52:04
  Why is government more focused on sending hundreds of billions
• 52:09
  of dollars to fund foreign wars than they are about funding
• 52:16
  their own rescue efforts of victims of the hurricane?
• 52:20
  Why is it that, as in some parts of California, if you are a
• 52:26
  criminal and you steal a certain amount of things that's under a
• 52:31
  certain limit, you there's no penalty to that?
• 52:35
  Why are you paying the The whole point of paying taxes is so that
• 52:40
  government protects your property, so that government
• 52:46
  enables law and order, so that government protects your best
• 52:51
  interest. Government has been
• 52:54
  Frankensteined into doing basically becoming God,
• 52:59
  essentially the way that I see it.
• 53:02
  And why is that happening? That is happening because of the
• 53:08
  government's ability to create money out of thin air.
• 53:14
  And I think, and, and I've spent a lot of time thinking about
• 53:18
  this. I think it makes people sick.
• 53:21
  I think it, it, it, it, it balloons the minds of
• 53:26
  politicians into thinking that they're God like saviors.
• 53:32
  And I think it's a very, very, very, very, very, very, very
• 53:38
  difficult problem, but also a very dangerous precedent that
• 53:43
  politicians have so much power because it's like, think about
• 53:47
  it like the US, what has been an endless war since, you know,
• 53:53
  the, the, the, you can say the, the 50s and the 60s, how they
• 54:02
  paying for that? They print the difference.
• 54:06
  That's how they do it. And then that has consequences.
• 54:11
  And the consequences is if you are lower middle class, you
• 54:16
  don't have the means to save in assets, meaning you are you're
• 54:20
  living paycheck to paycheck. So you get money and that
• 54:24
  money's in Fiat and use that money to pay for your living
• 54:28
  expenses, right. But you, you don't really have
• 54:31
  extra to like, you know, save for a rainy day.
• 54:36
  The problem is that when the government debases the currency,
• 54:38
  the, the, the purchasing power of that Fiat that you're earning
• 54:42
  continues to decrease. So if your employer is not
• 54:48
  increasing your compensation by at least 10% on a yearly basis,
• 54:56
  you're getting poorer. This is this, this is what
• 54:58
  people feel inherently. They feel this, they know it to
• 55:03
  it to be true. But the the Greek tragedy of all
• 55:06
  this is that they continue to seek a political solution.
• 55:09
  That's what Elon is doing. That's what Trump is doing.
• 55:13
  That's what, you know, to give them credit, they, they, they
• 55:15
  think differently, but that's what the Democrats are trying to
• 55:18
  do. Kamala's trying to do with the
• 55:20
  price controls, but but those are all half measures.
• 55:25
  They don't work the measure the the the true solution to this
• 55:29
  and Opti could you pull up the video because Elon is so close
• 55:33
  here. The the the true solution here
• 55:37
  and here's Hayek pointing it out is separating money from state.
• 55:43
  That's that's how you fix things.
• 55:46
  That is how you put a check on the power of government, on the
• 55:52
  power of politicians, because if not every four years, right,
• 55:59
  you're, you better hope that you know, the, the politician in
• 56:03
  place doesn't want to debase the currency.
• 56:08
  You're putting a lot of trust in them.
• 56:10
  And now the, the good news of all this is I'm talking about
• 56:13
  fixing the system. But The thing is, you don't have
• 56:17
  to wait for the system to fix. You could actually start
• 56:21
  benefiting from this today, right now, by choosing to opt
• 56:26
  out of it entirely. And the way that you do it,
• 56:28
  look, someone put in the in the chat, Mikel, in the last four
• 56:31
  years, the US has printed 40% of its circulate currency.
• 56:34
  And if you look at housing prices, it's literally a direct
• 56:39
  correlation between the M2 money supply and the cost of an
• 56:43
  average price in the US. And then you see the, the, the
• 56:47
  politicians coming in and saying, Hey, you know, we're
• 56:49
  going to give you a tax credit. And then in my response would be
• 56:53
  like, fuck you, dude, stop printing money.
• 56:55
  Like it's like it, it's very simple.
• 56:59
  Like I'm sorry to curse, but like, you know, it's, it's the
• 57:01
  truth. Here's Peter.
• 57:03
  Let's let's see, let's hear what he has to say.
• 57:05
  I mean, here's a. Great table list.
• 57:08
  The money wasn't allowed to develop further.
• 57:10
  After 2 or 300 years of coins all governments put their hands
• 57:15
  and stopped any further developments.
• 57:17
  We were not allowed to experiment on it.
• 57:20
  Money hasn't been improved. Money has rather become worse in
• 57:24
  the course of time. Government said it must not
• 57:27
  develop any further and what we have had since in development
• 57:31
  were matters of government inventions, mostly on mostly
• 57:35
  abuses of money. And I have come to the position
• 57:39
  of asking has monetary policy ever done any good?
• 57:43
  I don't think it has. I think it has done only harm.
• 57:47
  That's why I'm now pleading for what I've called
• 57:50
  denationalisation of money. I don't believe that.
• 57:54
  So if you should ever have the good money again before we take
• 57:59
  the thing out of the hands of government, then we can't take
• 58:02
  them violently out of the hands of government.
• 58:05
  All we can do is buy some sly around the Beltway.
• 58:09
  Introduce something so you can't stop.
• 58:11
  We we, we found it. We found it.
• 58:14
  And that's Bitcoin. That, that, that's literally
• 58:16
  Bitcoin. That's that's literally what it
• 58:18
  is. So like, yes, Elon has correctly
• 58:22
  identified the problem. Peter Schiff correctly
• 58:25
  identified the problem. All the gold bugs have correctly
• 58:29
  identified the problem where I think Elon fails or dot fails,
• 58:35
  but come short. And I think where Peter Schiff
• 58:38
  came short is the tool and the tool is Bitcoin decentral.
• 58:45
  If it stays decentralized and secure that that's the tool and
• 58:48
  it it will put a check on government, it will put like a,
• 58:54
  a bumpers, right. So if they ever come in there,
• 58:58
  they're like, I want to go to war.
• 59:00
  It's like, how are you going to pay for that, bro?
• 59:02
  You can't print that. You can't print the money
• 59:04
  anymore. How are you going to pay for
• 59:06
  that right? And then all of a sudden, these
• 59:08
  politicians are going to be very, very nice to the to their
• 59:12
  constituents and they're going to be like, Hey, guys, well, you
• 59:15
  know, and look, I'll leave it at this before I pass it on to
• 59:19
  Ropti. It's not a coincidence that the
• 59:21
  first country that made Bitcoin legal tender in the Americas has
• 59:26
  the most popular president in the Americas.
• 59:28
  And it's not a coincidence that the first country that made
• 59:31
  Bitcoin legal tender, they fixed the base layer of society.
• 59:35
  They went from one of the most dangerous societies on planet
• 59:37
  Earth to one of the safest, where the president is trying to
• 59:44
  get the country out of debt. And they have a plan that by the
• 59:48
  year 2030, they're gonna do just that.
• 59:51
  And it's not a coincidence that the IMF is attacking that small
• 59:54
  country. I'm just gonna leave it at that.
• 59:57
  Like anyways, Opti, what's your take on this before we get to
• 1:00:00
  the culture? Yeah, well, First off, it looks
• 1:00:02
  like we got some flat earthers and space is fake in the chat,
• 1:00:05
  so that's not my view. Yeah, that video of the
• 1:00:12
  potential, I'll put in quotes of that rocket landing is pretty
• 1:00:15
  crazy. And I think it does go to show
• 1:00:18
  that entrepreneurs are the ones that really lead society
• 1:00:21
  forward. Your thoughts on Elon Musk can
• 1:00:25
  be varied. I might, my personal thoughts is
• 1:00:27
  like he's doing so much incredible stuff.
• 1:00:29
  And you know, I, I like to be hopeful about it cuz it does
• 1:00:34
  seem like he is seemingly our real Tony Stark at the moment,
• 1:00:39
  though I am a little concerned. It does seem like we're going
• 1:00:42
  into like an I robot future. But that's, that's just my, my
• 1:00:44
  takes on that Elon Musk stuff. But really getting to the point
• 1:00:47
  of this, and this is the main theme of our show is the
• 1:00:50
  separation of money and state. And I really like that hike
• 1:00:53
  video where he pointed out what we say here all the time is that
• 1:00:58
  monetary policy has done more harm than good.
• 1:01:00
  And I think once you really just do a yeah, I wouldn't even say a
• 1:01:03
  deep dive, but just any research on the topic, you realize that
• 1:01:07
  like, why are we allowing a small Kabbalah people to control
• 1:01:10
  the monetary policy? No one person or even small
• 1:01:14
  group of people can control the economy.
• 1:01:16
  The economy is a very complex thing.
• 1:01:17
  And anytime that you start to pull levers, you start to
• 1:01:21
  manipulate and you start to distort, distort the the
• 1:01:24
  economy. And I think the economy, as you
• 1:01:27
  know, AI would say rudimentary Keynesian economists here.
• 1:01:31
  I think the economy is made-up best when individuals make their
• 1:01:35
  own choices for what they think is the best for their lives and
• 1:01:38
  not some small cabal of governments or bankers.
• 1:01:41
  And I am also all for the limiting of government, at least
• 1:01:45
  to the roles that that were set out in the beginning.
• 1:01:48
  I, I don't think the government is supposed to be big daddy
• 1:01:50
  government that controls every aspect of our lives.
• 1:01:53
  I especially don't believe that the government should be
• 1:01:55
  controlling the money supply because as we've seen, as we've
• 1:01:58
  constantly shown on this show, the cantillon effect of whoever
• 1:02:01
  is closest to the money printer is the ones that really are set
• 1:02:05
  up to succeed. And everyone else is getting
• 1:02:07
  poorer. And inflation is that hidden tax
• 1:02:09
  that few people understand, especially since most people
• 1:02:12
  people are economically illiterate.
• 1:02:14
  This is by design. They don't want you to know that
• 1:02:16
  it's all about the money. It will always be about the
• 1:02:18
  money. And those who can manipulate the
• 1:02:20
  money will be in a better position than everyone else.
• 1:02:23
  And this is by design. And I think the thread of
• 1:02:26
  today's show is that there is an injustice in the system.
• 1:02:31
  And it's either that the system is designed this way or that it
• 1:02:34
  is broken. Either way, the results are the
• 1:02:36
  same. We are getting poorer.
• 1:02:38
  We are stuck in the matrix. We are stuck in the rat race.
• 1:02:40
  And like Height said, the real goal here is to denationalize
• 1:02:45
  money. This is the separation of money
• 1:02:47
  and state. I want a money that is a global
• 1:02:50
  neutral, money that is a global measurement of value, AKA
• 1:02:55
  Bitcoin. And now we actually have an
• 1:02:57
  option here. No longer are we being forced,
• 1:02:59
  even though you know, by by design and laws in your own
• 1:03:02
  country, you are technically forced to use their money.
• 1:03:05
  Now we actually have an option that I think is slowly but
• 1:03:08
  surely proliferating around the world.
• 1:03:10
  And most people are waking up to this idea that, hey, I don't
• 1:03:13
  have to use this money that is designed to steal from me.
• 1:03:16
  We have a better option. It is Bitcoin.
• 1:03:18
  And all you have to do is just start saving in Bitcoin.
• 1:03:22
  Let the clown world, Fiat world play out in in its due course.
• 1:03:26
  Because we all know what's I think it's Voltaire quote where
• 1:03:29
  he says all Fiat money goes back to its original value, which is
• 1:03:33
  literally 0. So I've been kind of harping on
• 1:03:35
  stop using the enemy's money and start to use real money, which
• 1:03:39
  is Bitcoin. Start to use something that
• 1:03:41
  cannot be debased, that doesn't steal from you and your life is
• 1:03:44
  going to improve. Again, this all boils down to
• 1:03:46
  one simple thing. Most people want to live a good
• 1:03:49
  life and most people don't have the time to really deep dive all
• 1:03:53
  of these topics. They just need to use a better
• 1:03:55
  tool. And this is where we are.
• 1:03:57
  Bitcoin is a better tool. Like everyone here using the
• 1:04:00
  Internet, like everyone using wheels, money is a technology
• 1:04:04
  and now we have a superior technology and it's upon you,
• 1:04:07
  the individual, to take responsibility and protect
• 1:04:10
  yourself by saving in Bitcoin. This is how we win.
• 1:04:15
  But yeah, flat earthers in the chat getting triggered.
• 1:04:22
  Oh man. Oh man, well, I, I personally
• 1:04:26
  like Elon. I have a Tesla.
• 1:04:27
  It's freaking dope and you do lands rockets.
• 1:04:33
  I, I, I understand Opti is like, dude, I robot by Elon.
• 1:04:37
  And I always suspect that Opti's a little bit jealous because
• 1:04:41
  Elon's Elon's robot is called optimist and optimist and Elon
• 1:04:49
  obviously Opti's Opti optimist. So I suspect there might be a
• 1:04:53
  little bit of jealousy there, but it's OK.
• 1:04:55
  Like Opti's not going to be replaced by a robot anytime
• 1:04:58
  soon, but maybe when? The FIRST model maybe actually,
• 1:05:03
  but that's not going to happen for a while now.
• 1:05:06
  Well, you know Nico, I will have the last laugh when you have a
• 1:05:08
  robot made and it goes rogue on you.
• 1:05:11
  So hey, we'll see. Who's right at the end of the
• 1:05:16
  day? Anyways, guys, let's move on to
• 1:05:18
  the culture segment. We have a lot to talk about.
• 1:05:19
  Let's check it out. Here we go.
• 1:05:32
  All right, everybody, I do want to give a very special shout
• 1:05:35
  out, of course, to our sponsor, the Orange Pullout guys, Stack
• 1:05:38
  friends who stack sats join the 12,233 bit quarters that are
• 1:05:42
  currently on the application. To get started, all you got to
• 1:05:45
  do is scan the QR code, check the link in the video
• 1:05:47
  description. The Orange pullout has a really
• 1:05:49
  cool geographical feature. So if you're on the go, you're
• 1:05:52
  moving. You don't know anybody in your
• 1:05:54
  new city or you're in you've been in your city for a while.
• 1:05:58
  You don't have any bitcoiners around you.
• 1:05:59
  The orange pull up is for you. It'll allow you to send DMS to
• 1:06:03
  bitcoiners that are currently near you and it'll allow you to
• 1:06:07
  connect with them. So download the orange pull up
• 1:06:11
  today, scan the QR code or check the link in the video
• 1:06:15
  description is one of the best ways to send me a message.
• 1:06:18
  So if you want to reach me directly, send me a message on
• 1:06:21
  the orange BLOB. I'm gonna pass it on to Opti.
• 1:06:23
  I don't even know Opti. Yeah, yeah.
• 1:06:25
  What are we talking about during the cold?
• 1:06:27
  I really wanted to bring this thread up last week, but we we
• 1:06:31
  had guests all week. And honestly, I think it's
• 1:06:34
  fitting a lot better on today's show because we are talking
• 1:06:37
  about the, you know, denationalization of money and
• 1:06:41
  Fiat money and printing money and what those problems are.
• 1:06:44
  And obviously it is a Bitcoin show and this is the fundamental
• 1:06:47
  problem that we see in the world right now.
• 1:06:49
  It's all about the, it will always be about the money.
• 1:06:52
  Why do we have a rogue class of quote UN quote politicians
• 1:06:56
  running wild with the money printer and making all of us
• 1:06:59
  poorer? Anyways, this thread here is I,
• 1:07:02
  I've never really heard it in this way.
• 1:07:04
  I think we touch on this idea constantly, like what the
• 1:07:07
  problem of Fiat money is. And I saw this thread and, and I
• 1:07:10
  found it very interesting. And this is, you know, on
• 1:07:12
  Twitter, it's very small claims, but he's an OG bitcoiner.
• 1:07:16
  I don't know if I'm doxing him why he's saying his name.
• 1:07:19
  I'm not going to say his name, but I think everyone knows who
• 1:07:21
  his name is. I don't know if I should say it,
• 1:07:25
  but anyways, yeah, I'm not going to say it because you know, if
• 1:07:30
  you know, you know. Anyways, this is a great thread.
• 1:07:33
  And honestly, I do, I'm going to read the thread, but I kind of
• 1:07:37
  want to hear Nico's take on this as well.
• 1:07:39
  And my take on it because we we always hit on this, but I think
• 1:07:42
  it's a new reframing of the problems with Fiat money.
• 1:07:44
  So we have very small claims on Twitter goes the reason that
• 1:07:48
  Fiat. What is a problem is simple. 1A
• 1:07:50
  Republic can only survive if the treasury can afford to run the
• 1:07:53
  government, which we constantly hit on.
• 1:07:54
  Two, you are not voting to send someone to Washington to vote
• 1:07:57
  for your principles and beliefs. You are sending them to decide
• 1:08:00
  how to spend the treasury, which I think we talked on this
• 1:08:03
  constantly, but we've never actually framed it in this this
• 1:08:07
  way. Three, if it is true that the
• 1:08:09
  actual job of a congressman is to spend the treasury, then the
• 1:08:12
  only people who should be able to vote for them are the people
• 1:08:14
  that fund the treasury, AKA you guys. 4 Fiat allows the
• 1:08:18
  government to build a treasury absent of its people, which we
• 1:08:21
  constantly talk about. 5 The government uses Fiat to inflate
• 1:08:24
  the currency, which is a tax, though a very fair 1 You could
• 1:08:28
  argue against that, but this is the point, because six, it's an
• 1:08:32
  egalitarian tax. The creation of Fiat causes
• 1:08:35
  everyone to become a contributor to the Treasury.
• 1:08:38
  I've never heard it that way, but it's very interesting. 7 If
• 1:08:41
  everyone is a contributor, then everyone gets to vote. 8 If
• 1:08:44
  everyone gets to vote, you are no longer a sustainable Republic
• 1:08:47
  because those who are not actually net contributors are
• 1:08:50
  able to vote themselves. Advantages by defunding the
• 1:08:52
  treasury that was funded by others.
• 1:08:54
  Again, we constantly talk about the administrative state.
• 1:08:57
  We talk about the Cantelon effect. 9A Fiat system puts
• 1:09:00
  government in control, funding the treasury rather than the
• 1:09:03
  people. But modern monetary theories,
• 1:09:05
  advocates using taxes and inflation simultaneously achieve
• 1:09:09
  the same end. While this works, it takes all
• 1:09:11
  bargaining power out of the hands of the people who fund the
• 1:09:14
  government. And that's why Fiat is bad.
• 1:09:16
  It's not bad because it is a tax, or because taxes are theft,
• 1:09:19
  or because modern monetary theorists are evil, or whatever
• 1:09:22
  you dumb libertarian friends told you.
• 1:09:24
  It's bad because it is compatible, incompatible with
• 1:09:26
  our form of government. The Founders were right and
• 1:09:30
  we've talked about this constantly.
• 1:09:31
  We always hit up on on this problem that Fiat money is the
• 1:09:35
  problem. Obviously you can view this very
• 1:09:37
  differently and this Bitcoin has been around for a long time.
• 1:09:40
  He's a, he's a OG bitcoiner made content in the past and I, I've
• 1:09:44
  never heard it this way, but it is very interesting and we
• 1:09:48
  always hit on a very similar, similar topic.
• 1:09:51
  I I've been, you know, classic cliche man, talked about the
• 1:09:54
  Roman Empire, but we've seen this happen when empires do
• 1:09:57
  start to collapse that the powers that be though, you know,
• 1:10:00
  the elite, if you will, they start to steal the rob the
• 1:10:06
  coffers as as quickly as possible and they try to steal
• 1:10:10
  and extract as much wealth from the population as possible.
• 1:10:13
  And usually they try to do this in sly, you know, roundabout
• 1:10:16
  ways. And This is why we think Bitcoin
• 1:10:18
  is the solution to this because again, it is a sly roundabout
• 1:10:21
  way of stopping this problem. And you don't really have to
• 1:10:24
  understand all the technicalities of this, but I
• 1:10:26
  really like this framing that when you do vote for someone, a
• 1:10:29
  politician to represent your, your principles, or rather, you
• 1:10:33
  know, represent you, the person, what you're really voting for is
• 1:10:37
  someone to spend the treasury. And as much as we hit on this
• 1:10:41
  constantly, we've never really talked about that.
• 1:10:43
  And this is what we always say on here on the show, that the
• 1:10:46
  powers that be, the politicians in Washington, they're
• 1:10:49
  completely detached from the population and they're doing all
• 1:10:53
  kinds of crazy stuff that no one would agree to.
• 1:10:55
  And this fundamentally collapses when you go back to a Bitcoin
• 1:10:59
  standard when they I can't slyly steal from you.
• 1:11:03
  And we always hit on these topics.
• 1:11:05
  And I know it gets a little, you know, a little spicy in there
• 1:11:07
  when he's trolling libertarians and stuff.
• 1:11:10
  But I, I just find it, I found that it's a very interesting
• 1:11:13
  reframing of the problems that we always talk about here on the
• 1:11:16
  show, but we've never put it in this way.
• 1:11:19
  And I, I just really liked it. I wanted to talk about it last
• 1:11:22
  week, but it's, I think it's more fitting on today's show
• 1:11:25
  considering all the topics that we talked about.
• 1:11:27
  ANYWAYS, end of rant. Nico, what's your thoughts on
• 1:11:29
  this? Dude, I mean it's it's it we're
• 1:11:31
  In Sync again coincidentally yeah right.
• 1:11:34
  So and also shout out to the 200 likes of you guys watching live
• 1:11:38
  on YouTube. You guys are watching live on
• 1:11:40
  Rumble and Noster. We appreciate you and of course
• 1:11:44
  everyone watching us live on X. If you guys are enjoying the
• 1:11:47
  show, make sure to smash the like button.
• 1:11:48
  Share the video really, really helps pushing the orange signal
• 1:11:52
  forward, getting this message out there.
• 1:11:54
  More and more people need to be informed on what the actual
• 1:11:58
  problem of their economic woes is and not this whole it's the
• 1:12:04
  Democrats, it's the Republicans, it's the liberals, it's the
• 1:12:07
  conservatives. No, it's it's broken money.
• 1:12:09
  It's literally broken money. So I actually wanted to read a
• 1:12:12
  quote from George Washington. He says, quote, paper money has
• 1:12:17
  had the effect in your state that it will ever have to ruin
• 1:12:20
  commerce, oppress the honest and open the door to every species
• 1:12:24
  of fraud and injustice. So even the founding fathers,
• 1:12:29
  we're not fans of paper money, right?
• 1:12:32
  Andrew Jackson is very well known for, you know, getting
• 1:12:37
  elected on the basis of of shutting down the National Bank
• 1:12:42
  of the United States. It was only because of the
• 1:12:45
  creature, you know, read the creature from Jekyll and gives
• 1:12:47
  into the story of that. But the secret meeting, you
• 1:12:51
  know, that took place in the early 1900s and they sold the
• 1:12:55
  American public on the idea that central banking was going to
• 1:13:00
  provide stability. That wasn't the case at all
• 1:13:05
  whatsoever. That was completely wrong.
• 1:13:09
  It was just wrong on every single front.
• 1:13:12
  And it has door, it has Frankenstein government.
• 1:13:17
  It has taken the power from the hands of the people back to the
• 1:13:22
  hands of the government. And that will not be fixed until
• 1:13:28
  we separate money from state. Because it's just incentives
• 1:13:32
  dude. It's incentives bro.
• 1:13:35
  Like this is what you guys have to understand.
• 1:13:36
  It's like no one is better than their incentives.
• 1:13:39
  Like these politicians aren't twirling their mustache to
• 1:13:42
  saying how do I steal from them. No, they're they're following
• 1:13:45
  their incentives. And if you're incentivized to go
• 1:13:48
  to DC and there's a money printer, there's a money
• 1:13:52
  printer. And could you imagine that?
• 1:13:54
  Can you imagine the power that comes from that?
• 1:13:57
  How many hours a day do you spend working?
• 1:14:01
  And then all the there's a group, there's a bureaucratic
• 1:14:04
  elite that have the power to just like create a thin air.
• 1:14:10
  And then compare that with Bitcoin.
• 1:14:12
  It doesn't matter who you are. It doesn't matter if you're the
• 1:14:16
  emperor, king, Prince, whatever. If you want to make more
• 1:14:19
  Bitcoin, you got to mine it, you got to buy it, or you got to
• 1:14:23
  earn it like everybody else. There's no special privileges in
• 1:14:27
  that system. And I would I would turn their
• 1:14:30
  argument against them because they say that Bitcoin is a
• 1:14:33
  private money. If their money is not audible,
• 1:14:37
  they have the ability to create out of thin air and there's no
• 1:14:42
  accountability. Bitcoin is open source.
• 1:14:46
  It's it's an open Ledger and anyone could create more
• 1:14:49
  Bitcoin. What sounds more public and
• 1:14:51
  private to you, Right. And again, one last thing.
• 1:14:55
  It's not a coincidence, Ron Paul quote that the bloodiest century
• 1:14:59
  in human history was a century of central banking.
• 1:15:02
  Another, another thing, I don't think it's a coincidence that
• 1:15:05
  the establishment of the federal income tax was the same year as
• 1:15:09
  the establishment of the central bank in the United States.
• 1:15:14
  So I think America, and in fact, any country that has a central
• 1:15:18
  bank has been held hostage, is being held hostage by this
• 1:15:25
  system. And we now have a way out of it.
• 1:15:29
  And we now have a way to protest against it.
• 1:15:32
  And that protest is buying Bitcoin, earning Bitcoin, mining
• 1:15:36
  Bitcoin, taking that Bitcoin into self custody.
• 1:15:40
  If enough of the population does that, we win by default.
• 1:15:44
  It's game set match. I would say that percentage is
• 1:15:47
  about roughly 5 to 10% of the population.
• 1:15:52
  If 5 to 10 of the population, 5%, five to 10% of the
• 1:15:55
  population in your country opts out into Bitcoin and they use
• 1:16:00
  Bitcoin as their unit of account, as their primary
• 1:16:03
  monetary unit, I'm telling you like it's game over.
• 1:16:07
  It's done because their power derives from the fact that
• 1:16:12
  people are using this said currency.
• 1:16:15
  If more and more people opt out and they choose not to use that
• 1:16:19
  said currency because it's corrupt, then it takes away
• 1:16:23
  their power, right? And This is why you're seeing
• 1:16:26
  the system fight back. This is why you're seeing the
• 1:16:28
  two tier justice system. This is why we're highlighting
• 1:16:31
  you the fact that, you know, crypto exchange developers and
• 1:16:36
  privacy wallet developers get locked in prison while the banks
• 1:16:40
  get, you know, slap on the risk in a fine, right?
• 1:16:43
  Like this is the separation of money and say this election
• 1:16:47
  coming up is incredibly important less than a month from
• 1:16:49
  now, right? It's going to determine the
• 1:16:51
  regulatory environment in the United States for the next 4
• 1:16:53
  years. So yeah, I mean, but this is
• 1:16:56
  what it's all about. We'll be your guide through this
• 1:16:58
  through these chaotic times. But I'm telling you, my money,
• 1:17:02
  literally no pun intended, is on incentives versus coercion.
• 1:17:08
  And I think anything the state, the only thing they have left is
• 1:17:11
  coercion. And we have incentives on our
• 1:17:13
  side. And I think incentives are going
• 1:17:15
  to rule the day in my humble opinion, because like, look, if
• 1:17:19
  you look at Cuba, if you look at East Berlin and West Berlin,
• 1:17:23
  they had to build a wall. And even when they built a wall,
• 1:17:25
  people still wanted to escape for freedom.
• 1:17:28
  With Cuba, people are literally risked their lives to build a
• 1:17:31
  raft to come to Miami for freedom, right?
• 1:17:35
  So even in countries where they've made, you know, Bitcoin
• 1:17:39
  illegal, right, people still use Bitcoin.
• 1:17:41
  Why they they want the benefits of Bitcoin?
• 1:17:44
  So, you know, look at the war on drugs.
• 1:17:47
  That didn't really work out that much.
• 1:17:49
  And you can't look at me straight in the eye as a
• 1:17:51
  politician and tell me that writings 12 writing down 12
• 1:17:55
  words is somehow dangerous to society.
• 1:17:58
  Like like come on now dude. Anyways guys, this is what the
• 1:18:01
  peaceful revolution is all about.
• 1:18:03
  This was simply Bitcoin live for October 14, 2024.
• 1:18:06
  I'm your host Nico. It's my legendary Co host
• 1:18:08
  Optimus Fields. I will be live streaming for the
• 1:18:11
  next two weeks until Lugano in Switzerland from Paris, France.
• 1:18:15
  So it's going to be some hopefully it gets some some
• 1:18:17
  better scenes and some special things.
• 1:18:19
  Maybe I'll bring out a baguette to tomorrow's show, but anyways,
• 1:18:23
  guys, I hope you guys enjoyed the show.
• 1:18:24
  Smash the like button, consider subscribing, and we'll see you
• 1:18:27
  tomorrow for a brand new episode of Simply Bitcoin Live if you
• 1:18:32
  buy bitcoinwell.com, a Bitcoin only platform on a mission to
• 1:18:36
  enable financial independence.