Latest / Simply Bitcoin / European Central Bank Predicts $10M Bitcoin | EP 1101

Transcript

European Central Bank Predicts $10M Bitcoin | EP 1101 · Simply Bitcoin

• 0:01
  Yeah, I'm going to submit Bitcoin.
• 0:02
  The central bank that rules over 745 million people just released
• 0:08
  a 30 page report on Bitcoin, essentially predicting $10
• 0:14
  million Bitcoin. But at the same time, in this
• 0:17
  report, they said that the $10 million Bitcoin could create,
• 0:20
  quote, societal division and impoverishment.
• 0:24
  Was this a declaration of war on Bitcoin?
• 0:26
  I think so. Or was this a sneak peek into
• 0:29
  the future, hiding that even the central bankers think that
• 0:32
  Bitcoin could potentially hit $10 million per coin with the
• 0:36
  ECB still failing to launch their central bank digital
• 0:39
  currency that was scheduled for deployment in 2022.
• 0:42
  Is this 30 page report the biggest signal that Bitcoin is
• 0:46
  winning the fight? The the true fight for the
• 0:50
  separation of money and state is just beginning.
• 0:54
  You're going to want to stay till the end of this video
• 0:56
  because there's some mind blowing quotes in this report
• 0:59
  and I'm telling you guys, it's making me feel so incredibly
• 1:03
  bullish. So they told us.
• 1:05
  Yeah, we're winning, but at the same time they are fighting us
• 1:08
  anyways. Guys, I just brought out my
• 1:10
  legendary Co host. He's optimistic on stage
• 1:13
  optimist fields. And we're going.
• 1:14
  To break all this down because man oh man dude.
• 1:18
  Like shout out to TUR for really covering this.
• 1:21
  He originally dropped a thread. Covering the report.
• 1:27
  So the report was again written by the European Central Bank and
• 1:31
  the name of the report is the Distributional Consequences of
• 1:36
  Bitcoin. Now what's really interesting is
• 1:39
  that word distributional, and we're going to continue to focus
• 1:43
  on that word and that theme. There's something that we talk a
• 1:47
  lot about on simply Bitcoin is the wealth wealth redistribution
• 1:52
  that happens every time a central bank prints money.
• 1:58
  It's a wealth redistribution mechanism from the have nots to
• 2:02
  the haves and back to the government.
• 2:04
  If you're in the lower and middle classes, you are
• 2:07
  disproportionately affected the most by this insidious form of
• 2:12
  wealth redistribution. So this paper is another prime
• 2:16
  example of projection of politician and central banker
• 2:21
  projection. They're projecting on to us what
• 2:25
  it is they are guilty of themselves anyways.
• 2:28
  So here's Terr's thread covering some of the highlights of this
• 2:32
  paper. This new paper is a true
• 2:35
  declaration of war. The ECB claims that early
• 2:38
  Bitcoin adopters steal economic value from late comers.
• 2:42
  I strongly believe authorities will use this Luddite argument
• 2:46
  to enact harsh taxes or bans. Rather than praising Bitcoin as
• 2:51
  a tech paradigm shift out of petroleum or the Internet, the
• 2:55
  authors introduce the blatantly Luddite argument that quote
• 3:00
  early adopters quote increase their wheel wealth and
• 3:03
  consumption at the at the expense of latecomers.
• 3:08
  It goes on to say in absolute terms, early adopters exactly
• 3:13
  exactly increase their real wealth and conception at the
• 3:16
  expense of the real wealth and consumption of those who do not
• 3:20
  hold Bitcoin and who invest in it only at a later stage.
• 3:24
  The new Lamborghini Rolex villa and equity portfolios by early
• 3:29
  Bitcoin investors are financed by diminishing consumption and
• 3:34
  wealth of those who initially do not hold Bitcoin.
• 3:37
  The redistribution of wealth and purchasing power is unlikely to
• 3:42
  occur without detrimental consequences for society.
• 3:46
  Even if the latecomers cannot attribute their loss of
• 3:48
  purchasing power, they will feel a malice and frustration.
• 3:53
  They will contribute further to an even more split society.
• 3:57
  You know what splits society the most?
• 4:00
  You know what causes the most amount of wealth inequality?
• 4:04
  Fiat money, currency debasement. Why can't millennials afford a
• 4:09
  home? Why can't Gen.
• 4:11
  Z afford a home? We can't afford a home because
• 4:14
  of all the money printing that occurred by central banks.
• 4:18
  But what they tried to do is they tried to do a divide and
• 4:21
  conquer. They tried to create two classes
• 4:24
  of individuals, the Bitcoiners and the non bitcoiners.
• 4:29
  And what they're trying to tell you is don't pay attention to
• 4:32
  our policies, which is what created Bitcoin in the first
• 4:35
  place. Pay attention to the bitcoiners
• 4:37
  because the bitcoiners are the ones that are causing you to
• 4:41
  feel frustrated and are causing you to feel this malice.
• 4:45
  Like, no, this is utter bullshit and projection.
• 4:48
  It goes on to say. Then they go to brazenly
• 4:51
  advocate for legislation to quote to prevent Bitcoin prices
• 4:56
  from rising and to see Bitcoin disappear altogether.
• 4:59
  It goes on to say, in any case, current non holders should
• 5:03
  realize that they have a compelling reason to oppose
• 5:06
  Bitcoin. That's right, if you don't hold
• 5:09
  Bitcoin, you have a compelling reason to hate Bitcoin and to
• 5:13
  hate bitcoiners and advocate for legislation against it,
• 5:17
  admitting to prevent aiming to prevent Bitcoin prices from
• 5:22
  rising and to see Bitcoin disappear altogether.
• 5:25
  Latecomers and non holders and their political representatives
• 5:29
  should emphasize that the idea of Bitcoin as an investment
• 5:33
  relies on retribution at their expense.
• 5:36
  Failing to do so could skew election results in favor of
• 5:40
  politicians who advocate pro Bitcoin policies, implying
• 5:45
  welfare distribution and fueling the division of society.
• 5:49
  Again, pure and utter projection.
• 5:52
  Who controls politicians? Who did the politicians bail out
• 5:56
  in 2008? It was the bankers.
• 6:00
  It was the central bankers. Who controls the policy?
• 6:04
  The central bankers, who is the biggest wealth redistribute
• 6:11
  wealth redistributor on the planet?
• 6:15
  Central bankers, because when they print money, it's wealth
• 6:19
  redistribution. They're stealing from the people
• 6:22
  that don't have the means to save in assets, which is most of
• 6:25
  society, and they're giving it back to the very wealthy and
• 6:30
  back to the state, OK. It goes on to say the authors
• 6:33
  also modeled some projections to illustrate the altry amount of
• 6:37
  BTC that will remain available for late comers.
• 6:41
  It goes on to say, and all the years I've been monitoring the
• 6:44
  Bitcoin space, this is by far the most aggressive paper to
• 6:48
  come from authorities. The gloves are off.
• 6:51
  It's clear that the central bank economists now see Bitcoin as an
• 6:56
  existential threat to be attacked with any means
• 7:00
  possible. Many of us have warned that this
• 7:04
  was coming. Bitcoin has a major political
• 7:07
  fault line both in national and international elections.
• 7:10
  Well, here it is. It means that us hodlers must
• 7:14
  take actions to ensure that governments respect our basic
• 7:18
  right to hold property. And no, this won't be a war
• 7:22
  between haves and have nots. Rather, this will be a historic
• 7:26
  clash between those who stand for the natural rights of the
• 7:30
  individual and those who clutch at the failed ideologies of
• 7:33
  collectivism and central planning.
• 7:37
  And we will put the link to the paper in the video description
• 7:41
  and also in the chat so you guys can have fun and do your own
• 7:46
  research and read all of this. So I'm going to continue and and
• 7:50
  get some more more thoughts and opinions from other members of
• 7:55
  the Bitcoin community. Here's Marty met Marty Bett.
• 7:58
  Marty Bett was actually quoted in this in this paper.
• 8:02
  He goes on to say in this tweet, we're at the stage where the
• 8:05
  central bankers feel compelled to respond.
• 8:07
  This is what winning looks like. Pierre Richard says Bitcoin is
• 8:12
  better savings technology than Fiat.
• 8:14
  Fiat monopolist can't compete, so they want to pass laws
• 8:18
  against Bitcoin. Here's Jameson Lopp, he says.
• 8:21
  Hilarious to see one of the oldest butt coiner arguments
• 8:25
  make it to the ECB. Where the haters fall flat is
• 8:29
  explaining how this is any different from every publicly
• 8:32
  traded asset. Here's Pierre Rashard.
• 8:36
  He says this is where the ECB paper really fell apart.
• 8:40
  Market value is not a function of societal benefit.
• 8:44
  This is why diamonds are quite often more expensive than water.
• 8:49
  Here's Troy Cross reading that the ECB paper for real.
• 8:54
  It's clear that Ulrich and Jurgen, the paper's authors, are
• 8:58
  thoroughly obsessed with Bitcoin.
• 8:59
  Twitter citing Marty, Marty Bett, Molly White quoting from
• 9:03
  Bitcoin Magazine, exerbing Trump and RFK from Nashville, and
• 9:07
  matching price movements with electoral polls.
• 9:10
  Wild. Here's Max Keiser.
• 9:12
  He says Bitcoin draws the worst people out into the open.
• 9:16
  The ECBIMF and World Bank, for example, are vile extremists bet
• 9:21
  on institutionalizing debt slavery and plutocracy.
• 9:26
  Bitcoin financially, and I can't say that let's say ends these
• 9:31
  monsters. Pierre Richard says the EC BS
• 9:34
  best economists don't understand the difference between saving
• 9:38
  and investing. And this is where they have to
• 9:41
  admit that. They have to say the quiet part
• 9:45
  out loud and the quiet part out loud.
• 9:47
  What we've been being fed and told by the central bank
• 9:52
  propagandists and by the fans of the IMF is that this is a
• 9:57
  bubble, because you can't have it both ways.
• 10:01
  You can't say, Oh my God, you know, like we have a problem and
• 10:07
  not admit that there's a potential that Bitcoin can
• 10:11
  succeed. So the silver lining in this
• 10:13
  paper is that the ECB basically admitted that, Oh my God, this
• 10:19
  thing could potentially go up forever and hit $10 million.
• 10:23
  And here's Terete Meester saying that stage when central banks
• 10:26
  ponder the price of Bitcoin going up forever.
• 10:29
  And here's a quote from the paper itself.
• 10:31
  If the price of Bitcoin rises for good, so we went from this
• 10:36
  is a bubble, this is going to fail.
• 10:39
  It can't be money to basically admitting, holy cow, this is not
• 10:46
  only money, but this could potentially go up forever.
• 10:49
  And by doing so, they're admitting their own money is a
• 10:53
  failure. And this is what it this is what
• 10:56
  it boils down to. It boils down to the fact that
• 11:00
  there's a decentralized alternative to sovereign money
• 11:06
  and that the centralized alternative is a superior form
• 11:10
  of money. But the problem is that just by
• 11:15
  that existing, just by the mere fact of Bitcoin existing and
• 11:19
  TikTok next block, it proves that we don't need government
• 11:24
  for money. And it also proves that money
• 11:28
  can exist without inflation. And that is a nightmare to
• 11:34
  central banks. And that is a nightmare to
• 11:36
  governments because if Bitcoin continues to stay decentralized
• 11:43
  and secure and it continues to prove to the world that it is
• 11:47
  superior form of money and that money can exist without
• 11:51
  inflation, one of government's primary sources of funding
• 11:57
  disappears overnight. That is the case that was made
• 12:00
  in the book The Sovereign Individual.
• 12:02
  That is the case that we've been making on simply Bitcoin.
• 12:05
  And a lot of the inefficiencies of government, the ones that
• 12:08
  Elon has been talking about all decree.
• 12:11
  We don't know how many government agencies are the
• 12:14
  things that these government agencies are spending money on.
• 12:16
  How are they able to pay for all of this?
• 12:19
  It's not tax revenue. They're able to print the
• 12:23
  difference. And fundamentally, this paper is
• 12:27
  a reaction to Bitcoin. They're scared because they
• 12:32
  can't explain that away. So what they're trying to do is
• 12:37
  that you're trying to obfuscate it, and they're trying to hide
• 12:40
  it behind the fact of, Oh my God, it's the haves and the
• 12:45
  haves not. We've seen that collectivist
• 12:48
  story and tactic tried for the last 100 or so years, quite
• 12:54
  successfully I might add. So this is their scheme.
• 12:59
  If we do not control the money, if we are not able to
• 13:04
  effectively redistribute for society, society is going to
• 13:10
  feel bad. It's going to cause division.
• 13:14
  It's going to cause bad things. You're going to have to take our
• 13:17
  word for it. Even though we've completely
• 13:19
  destroyed the money for the last 100 years, even though we've
• 13:23
  stolen the opportunities from the younger generations, even
• 13:28
  though we've caused the most catastrophic world wars humanity
• 13:33
  has ever seen, let's blame Bitcoin.
• 13:36
  Yes, Bitcoin is the problem anyways.
• 13:41
  So coincidentally at the same time, not only did the ECB
• 13:46
  release a paper attacking Bitcoin, also a branch of the
• 13:51
  Federal Reserve, which is the United States Central Bank
• 13:54
  released a paper attacking Bitcoin.
• 13:58
  Here's Troy Cross explaining first bit. 1st paper said unless
• 14:02
  Bitcoin is banned some people will get rich and that's bad.
• 14:06
  2nd paper says if they ban Bitcoin they'll be able to keep
• 14:10
  you poor forever, and that's good.
• 14:14
  Here's more details from the paper.
• 14:17
  New paper claims governments can run permanent deficits if
• 14:21
  consumers don't notice and adopt new money like BTC fantasizes
• 14:28
  about legal prohibition and extra taxes on BTC to ensure
• 14:33
  government debts only risk free security.
• 14:37
  So this is something that we've been saying for a long time on
• 14:40
  simply Bitcoin and something that Max said in an earlier
• 14:44
  tweet. Bitcoin exposes incentives and
• 14:49
  if you are a government, it exposes what your true goals
• 14:55
  are. It doesn't allow you to spin it.
• 14:58
  It eventually pushes you into a corner and you have to say the
• 15:02
  choir part out loud. And the quiet part out loud is
• 15:06
  if Bitcoin exists, we can't deficit spend, we can't print
• 15:11
  the difference. If Bitcoin exists, we can't
• 15:14
  force people to use Fiat. So we have to prohibit this or
• 15:19
  we have to tax it into oblivion. It's not going to make us
• 15:24
  change. Because remember, Bitcoin would
• 15:27
  have never have been born if it wasn't for the utter betrayal by
• 15:33
  governments. We trusted them as citizens to
• 15:37
  be in charge with the money. And they took that trust and
• 15:41
  they betrayed that trust. And they forced humanity to
• 15:46
  innovate and say, you know what? We're going to discover or
• 15:50
  invent a money that doesn't require trust at all whatsoever.
• 15:56
  And then instead of them saying, you know what, holy cow, we have
• 16:00
  competition now they are hoping that the heavy hand of the state
• 16:06
  that has the monopoly on violence steps in and says, you
• 16:09
  know what? Bitcoin can't exist and I'm
• 16:14
  sorry, This is the this is the thing.
• 16:17
  This is going to be the toughest pill to swallow for the
• 16:20
  unelected bureaucracy. Good luck shutting down a system
• 16:25
  that is truly decentralized. You've never been able to do so.
• 16:30
  Good luck. You see them how they have,
• 16:33
  they've been reacting to unmoderated Internet.
• 16:37
  They've been losing their minds. There's been a quote by the
• 16:40
  former Secretary of State Hillary Clinton saying that they
• 16:44
  would lose control if they weren't able to moderate speech
• 16:47
  on the Internet. The same thing is happening to
• 16:51
  money in real time in front of our eyes.
• 16:54
  They're being disintermediated by a superior technology.
• 17:00
  And instead of them reacting and saying we have to compete, we
• 17:05
  have to be fiscally responsible, taking away the incentive for
• 17:09
  people to seek an alternative. No, no, no, no, they would
• 17:13
  rather use their monopoly on violence instead.
• 17:16
  Anyways. There was some original thought
• 17:19
  that I had when I saw this. Without effective wealth
• 17:23
  redistribution via currency debasement, collectivism
• 17:26
  starves. Bitcoin hinders the ability of
• 17:29
  central banks to do this, thereby taking away the state's
• 17:32
  primary funding mechanism. Expect the attacks from those
• 17:36
  who believe in central planning to escalate, because that's what
• 17:40
  it fundamentally boils down to. These central bankers believe
• 17:45
  they can run money better than you.
• 17:49
  These central bankers believe they have the right and the
• 17:53
  power to be able to take from a group of people and give to
• 17:59
  another group of people. Bitcoin basically says
• 18:03
  specifically if you take it in self custody, sorry, you can't
• 18:08
  touch me bro. And if that if this idea of
• 18:13
  monetary sovereignty for the individual catches on and
• 18:18
  becomes a worldwide phenomenon, and I truly believe that it
• 18:21
  will, good luck trying to go back to the Fiat system.
• 18:28
  And again, one of my favorite quotes.
• 18:32
  There are no conspiracies, but they're also no coincidences.
• 18:36
  Here's Big Sean Harris with the interesting observation.
• 18:38
  He says, am I the only one who saw Italy double their capital
• 18:42
  gains tax on Bitcoin? Then watch the ECB write a hit
• 18:46
  piece on Bitcoin, then an American central banker write a
• 18:49
  piece about banking banning Bitcoin.
• 18:52
  And that happened all last week. If you don't understand what
• 18:56
  role potentially Michael Saylor is playing, then you might be
• 19:00
  blind. Some sly, roundabout way is
• 19:03
  exactly what he's going for. And again, these people that
• 19:09
  continue to lecture us about Bitcoin being bad, I just got to
• 19:16
  say the head of the ECB, Christine Lagarde, is a
• 19:21
  convicted felon. She's a convicted criminal.
• 19:26
  So I'm going to continue to say what I've been saying.
• 19:30
  When you see this type of bullshit, they're projecting
• 19:33
  onto US what it is they're fundamentally guilty of
• 19:38
  themselves. That's what it boils down to.
• 19:41
  That's what it's all about. So when you see this escalate,
• 19:47
  when this you see this trend continue of Bitcoin is a danger
• 19:51
  to society. It it redistribution all these
• 19:56
  words, collectivist words, just understand that they're upset
• 20:02
  that you as an individual can use the money that they cannot
• 20:07
  steal from and confiscate. That's what it boils down to.
• 20:12
  And it terrifies them because this is their source of power.
• 20:18
  We are entering the first innings of the battle.
• 20:22
  For the separation of money and state, we have been fighting the
• 20:26
  battle for the separation of information and state.
• 20:29
  Look at it. It's crazy how much they want to
• 20:31
  censor. We're in the first innings of
• 20:34
  the separation of money and state.
• 20:36
  So hold on, bunker down. Hold the effing line, because if
• 20:42
  we lose, we're going to live in a in a world of slavery, a world
• 20:47
  of central bank digital currencies.
• 20:50
  I refuse to live in that world. I want to live in a world of
• 20:53
  freedom. And I'm sorry, no bureaucrat or
• 20:57
  pluricrat can convince me that somehow writing down a 12 word
• 21:02
  seed phrase is somehow dangerous to society.
• 21:06
  May be dangerous to their job, may be dangerous to their power,
• 21:11
  but definitely not dangerous to society.
• 21:14
  I would say they are the ones that are dangerous to society.
• 21:18
  I would say that Fiat is the one that is dangerous to society.
• 21:22
  So this is projection one O 1 and I'm telling you we're going
• 21:27
  to win. We just have to keep the
• 21:28
  pressure on Opti. What are your thoughts on this
• 21:31
  bro? Yeah, well, my first thought
• 21:33
  and, and my first take is just basically, I find it so
• 21:36
  hilarious that they're given in this article, it's like, look,
• 21:39
  Bitcoin's probably going to go to $10 million, but like, don't
• 21:42
  buy anything. Just get mad at Bitcoiners
• 21:44
  because they're the problem here.
• 21:45
  And the, the sheer amount of projection that you see in this
• 21:48
  article about Bitcoiners are the ones that are going to
• 21:52
  essentially steal from latecomers when, like Tour said,
• 21:55
  you know, if you really change Bitcoin to like Amazon stock or,
• 22:00
  you know, Apple stock or something, you can make the same
• 22:02
  arguments. And instead of being like, hey,
• 22:04
  maybe you should adopt some better money.
• 22:07
  No, just get mad at Bitcoiners for adopting this money.
• 22:09
  They are the real problem. And remember, we said it a while
• 22:12
  ago on the show that we are slowly but surely getting to the
• 22:16
  point where we're going to get the central bankers and the
• 22:17
  politicians say that, oh, we can't, we have to outlaw Bitcoin
• 22:21
  because it's a danger to democracy.
• 22:23
  Well, now we actually got that in this report here.
• 22:25
  It literally said that in one of its phrasing there like we can't
• 22:29
  allow Bitcoin to continue because it's a danger to
• 22:31
  democracy and which is just absolutely hilarious when in
• 22:35
  fact it's, you know, they are the danger to democracy.
• 22:37
  But one of my biggest points that really grind my gears the
• 22:41
  most out of this article was something we've been talking
• 22:44
  about on this show for a long time that even in their framing
• 22:47
  of Bitcoin, they aren't talking about it as money.
• 22:50
  They kept kind of talking about Bitcoin in terms of Bitcoin for
• 22:54
  payments and saying that, oh, Bitcoin for payments has failed.
• 22:57
  And you know, like, that's the whole reason why Satoshi created
• 23:00
  Bitcoin in the in the in first place.
• 23:02
  They were basically saying that Satoshi had a, a confusion or
• 23:06
  misrepresentation of e-commerce on the Internet.
• 23:08
  He didn't understand the real problem.
• 23:10
  And you know, payments are good. You know, Paypal's fine.
• 23:13
  Why do we need Bitcoin? And we've been, we've been
• 23:15
  covering this a long time on the show that it has nothing to do
• 23:18
  with payments. Yes, Bitcoin will improve
• 23:20
  digital payments on the Internet.
• 23:21
  I find using Bitcoin a lot easier than using credit cards,
• 23:24
  but I find it a bit nefarious that the whole argument of this
• 23:28
  article is that Bitcoin as payments has failed when they
• 23:31
  didn't even highlight the the actual title of Satoshi's white
• 23:34
  paper, which is, you know, Bitcoin a peer-to-peer cash
• 23:37
  system. It's not Bitcoin a peer-to-peer
• 23:39
  payment system. And that's kind of the whole
• 23:41
  fundamental basis of this this this article, this report here
• 23:46
  is like, oh, Bitcoin is payments has failed.
• 23:48
  And even if we kind of give it the fact that yes, maybe it will
• 23:52
  succeed, you know what they call.
• 23:53
  It a a. Bitcoin positive scenario of
• 23:56
  Bitcoin going to $10 million, It's still bad because the early
• 24:00
  adopters of Bitcoin are taking from the late adopters of
• 24:02
  Bitcoin when you can literally flip that on on its head and say
• 24:06
  the same thing for Fiat money. We constantly cover this up.
• 24:09
  Cantheon insiders, those closest to the money printers are the
• 24:11
  ones stealing from everyone else.
• 24:12
  So you can argue the same thing with the Fiat system.
• 24:15
  And we constantly talk about the the projection that you get from
• 24:18
  central bankers, the international bankers.
• 24:20
  At this point, it's becoming very obvious to anyone out
• 24:23
  there. And then also when you add that
• 24:26
  on top of the fact that the Minneapolis Fed department also
• 24:30
  dropped an article like, you know, Troy Cross said one saying
• 24:34
  like Bitcoin is bad, we shouldn't allow it.
• 24:37
  You know, bitcoiners getting rich is bad for everyone.
• 24:40
  So hate Bitcoiners and the other 10 Bitcoin is so bad, we need to
• 24:44
  tax them and and ban Bitcoin. The irony is not lost on me.
• 24:48
  And remember, actually we didn't even cover it on the show.
• 24:50
  But last week we got Neil Kashkari, who's the president of
• 24:53
  the mini Minneapolis department, saying Bitcoin is useless.
• 24:56
  This week we got an article basically saying, oh wait,
• 24:59
  Bitcoin isn't useless and we should ban it and tax it out of
• 25:02
  existence. So it's like, make up your mind
• 25:05
  here, is Bitcoin good? Are you trying to ban it?
• 25:07
  Or is it, is it a bad thing? And it's just like, man, you can
• 25:12
  tell that we are entering in the part of the story where they're
• 25:15
  going to attack Bitcoin. And further, we've been talking
• 25:18
  about this a long time on the show.
• 25:19
  I think one of the more nefarious narratives that comes
• 25:23
  out of this article is them kind of laying the groundwork to
• 25:26
  blame Bitcoiners for their problems.
• 25:28
  And I think that's coming down the, the pipeline is essentially
• 25:31
  like, oh, the Fiat system failed because of Bitcoin, not because
• 25:36
  of their own inherent, you know, flaws in the Fiat system.
• 25:40
  They aren't taking responsibility for the fact that
• 25:42
  they are the ones that are printing us to oblivion.
• 25:45
  And they're the very reason Bitcoin got created in the 1st
• 25:48
  place. And I mean, I don't know about
• 25:50
  you, but keeping my tinfoil hat on, it's going to come down the
• 25:54
  pipeline very, very strong that they're going to try to blame
• 25:57
  the Fiat collapse on Bitcoiners. And they might even come out and
• 26:01
  do witch trials against Bitcoiners.
• 26:02
  So again, like, you know, Nico and I are kind of kind of nuked
• 26:06
  here and we're kind of wrecked because you guys know our faces
• 26:08
  and everything. But if you are a Bitcoin and on
• 26:10
  right now, it's probably important to stay in and on
• 26:13
  because we know it's going to come down the pipeline.
• 26:15
  They're going to blame everything on Bitcoin when their
• 26:19
  their Ponzi scheme and bubble inevitably blows up.
• 26:22
  And so the fact that they're basically, who was it Jameson
• 26:25
  Lopp saying like they're rehashing old flood lines on
• 26:28
  Bitcoin, basically trying to justify perpetual government
• 26:31
  debt and saying, oh, Bitcoin is bad, don't buy Bitcoin, blame
• 26:35
  Bitcoiners for our problems. Like it's absolutely disgusting.
• 26:39
  And you know, instead of saying, hey, Bitcoin is going to
• 26:43
  succeed, maybe you want to get some just in case it catches on.
• 26:46
  They're like, hey, Bitcoin might succeed, but you're going to be
• 26:50
  the one that gets the front end of this stick instead of being
• 26:53
  like, look, everyone will prosper on a Bitcoin standard.
• 26:57
  Yes, you might not see the gains of early adopters, but anyone
• 27:01
  that adopts a new technology, their lives improve.
• 27:04
  And so you can just see that the, the central bankers out
• 27:06
  there, the international bankers are running around scared.
• 27:09
  They, I think they've realized maybe a little too little too
• 27:12
  late that Bitcoin, the cat is out of the bag.
• 27:15
  And now they're trying to do damage control and they're
• 27:18
  hurting the not only the adoption of Bitcoin, but they're
• 27:21
  citizens, the people that they're supposedly here to
• 27:23
  protect. They're hurting everyday people
• 27:25
  by fighting Bitcoin. And so it's more important than
• 27:28
  ever to obviously in your in your personal circles, ensure
• 27:32
  that more people are taking Bitcoin into custody, that
• 27:34
  they're saving in Bitcoin because it is going to get
• 27:36
  hairy. And I think, you know, we've
• 27:38
  been covering it all year. Yes, we've got a lot of bullish
• 27:41
  news in regards to Bitcoin, like the ETF, you know, corporate
• 27:44
  adoption of Bitcoin, which does come with its own kind of
• 27:47
  secondary effects here. But it is.
• 27:50
  Becoming obvious that they're going to blame Bitcoin and
• 27:52
  Bitcoiners for for the, you know, the Fiat apocalypse that
• 27:56
  that is upon us and that is and should be terrifying because
• 28:00
  they keep saying like what if the Bitcoin bubble pops and it's
• 28:03
  like no, Bitcoin isn't the bubble it's the pin and Fiat
• 28:06
  currencies are the real bubble that's the real Ponzi scheme
• 28:09
  here and Bitcoiners are just trying to protect themselves and
• 28:12
  yet you know we get some more articles basically fighting
• 28:15
  Bitcoin so. As I tweeted.
• 28:16
  This morning, you know, bankers, international bankers shilling
• 28:19
  perpetual government debts and fighting Bitcoin like I just
• 28:22
  love the smell of napalm in the morning.
• 28:25
  This Is Us winning. This is great.
• 28:27
  And it's just very important that the narrative control come
• 28:31
  from Bitcoiners is hopefully getting more people on the life
• 28:35
  raft that is Bitcoin. Amen.
• 28:37
  Amen to that. Amen to that.
• 28:39
  All right everybody before we jump into the numbers, I do want
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  to give a very special shout out to Simply Bitcoins lead sponsor.
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  All right everybody, let's hit the numbers.
• 29:59
  Lots to talk about. All right, everybody, I do want
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  to give a shout out to our sponsor Stamp Seed.
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• 31:07
  All right everybody. At the time of recording, the
• 31:09
  Bitcoin price is 67,210 sats per dollar.
• 31:13
  One 1488 block height 866,730 realized monetary inflation
• 31:20
  1.28% market cap 1.33 trillion Bitcoin versus gold market cap
• 31:27
  6.99% money supply 19,770,824 BTC percentage issue 94.14% The
• 31:37
  grand scheme of things. We're just getting started.
• 31:39
  Anyways, we're going to continue talking about this topic of
• 31:42
  inflation for the rest of today's show.
• 31:45
  Here is a legendary clip from Ron Paul, and this is young Ron
• 31:51
  Paul, and he's talking about the Federal Reserve, the scam that
• 31:55
  is the Federal Reserve. And shout out to Ron Paul
• 31:58
  because you know, he really started this.
• 32:00
  He was a man that came before his time.
• 32:03
  I'll say that for for you know this guys a legend.
• 32:06
  He really started it all, really pointing out the scam that is
• 32:09
  the Fed. There's no other power greater
• 32:10
  than the power over money, the power to create and contract the
• 32:14
  money supply, the power to control the purchasing power of
• 32:17
  your money. Throughout history, this has to
• 32:20
  be the most sought after monopolistic power of man.
• 32:24
  And it's become more sophisticated over the decades
• 32:27
  and over the centuries, more sophisticated now and more
• 32:29
  international in scope than ever before.
• 32:32
  So I see the issue of power and the control over money as being
• 32:34
  something that we cannot ignore, we must address.
• 32:38
  I believe closely associated with this is the issue of
• 32:41
  morality as well. By what moral right we have to
• 32:44
  create purchasing power out of thin air, whether it's done by
• 32:47
  the creation of credit or Federal Reserve notes, or
• 32:49
  whether it's the creation of SDRS in an international scope,
• 32:51
  by what right do they do this? Is it any more moral to dilute
• 32:55
  the value of your purchasing power, of the money you hold in
• 32:57
  your wallet than it is for the farmer to dilute the milk supply
• 33:00
  with water? I would say there's an issue of
• 33:02
  morality here just as strong as the issue of power.
• 33:06
  I also happen to believe also because it's a moral issue more
• 33:09
  than an economic issue. It is for this reason that the
• 33:12
  people have lost trust in their government, trust in the banks,
• 33:14
  trust in business, trust in themselves, and that we are a
• 33:17
  nation of distrust and is for this reason I believe that until
• 33:20
  we restore trust in government, trust in the system and trust in
• 33:23
  the money, there will be no resolution of this problem.
• 33:26
  It is the issue of trust in people and trust in money that
• 33:30
  must come before you can start talking about nickeling and
• 33:33
  diamond and trying to get back to a balanced budget, because
• 33:35
  that certainly hasn't worked. So 100% and This is why I say
• 33:41
  that, you know, elections are 1/2 measure because even if you
• 33:45
  get Elon in there with the government efficiency office and
• 33:48
  whatever four years happens and then there's another president
• 33:53
  and they just don't care. And they just, they just want to
• 33:58
  use the money printer and like, think about it.
• 34:01
  They're promising all this free shit to everybody and they say,
• 34:05
  hey guys, you know, free college, free healthcare.
• 34:08
  No one's asking like why is it free?
• 34:10
  It's not free. They're printing it.
• 34:12
  They're debasing, they're debasing your current, they're
• 34:14
  debasing the currency and then they're they're giving it back
• 34:17
  to you. It's like they took 100.
• 34:19
  It's like they took $100 bill, $100 bill out of your back
• 34:22
  pocket, and then they give you a $20 bill in return.
• 34:25
  And then you didn't notice that they took $100 bill out of your
• 34:27
  back pocket and they're giving you $20 and you're like, Oh my
• 34:29
  God, it's free money. It's not free.
• 34:31
  They're printing it. And when they print it, they
• 34:34
  debase the currency. So Ron Paul is absolutely right
• 34:37
  there. Until we fix the issue that is
• 34:41
  the Federal Reserve, that is central banking, there will
• 34:45
  never be a balanced budget. There will never be.
• 34:48
  There will always be corruption in Washington because the
• 34:52
  incentives are not aligned. You want to fix the issue, you
• 34:56
  fix the money and the Hyatt quote, right?
• 35:00
  You have to find a sly, roundabout way you I don't think
• 35:05
  it's politically feasible to pass a resolution that would end
• 35:10
  the Fed. None of those politicians are
• 35:13
  incentivized to do it. So what do you do?
• 35:16
  You find an alternative decentralized system that
• 35:20
  doesn't require Washington to vote on it.
• 35:23
  It just requires individuals to adopt it.
• 35:27
  And by adopting it, they opt out of the previous system.
• 35:31
  So yeah, I mean, I like, you know, and then you're seeing the
• 35:36
  previous system, which is what we started with on today's
• 35:38
  episode, attack Bitcoin because it's scared.
• 35:44
  It's scared that the gig is up and the gig is is that inflation
• 35:50
  is theft. Money printing is theft.
• 35:54
  It's a form of theft. It's taxation without
• 36:00
  representation. You are not agreeing to that.
• 36:03
  They are doing it and they gaslight you.
• 36:07
  They don't take responsibility for it.
• 36:09
  They blame everything and everyone but themselves even
• 36:14
  though they are the sole cause and the only cause of inflation.
• 36:19
  It is the state. It is the government.
• 36:22
  It is not the supply chains. It is not the pandemic.
• 36:27
  Supply chains don't have a money printer.
• 36:30
  The pandemic doesn't have a money printer.
• 36:32
  Putin doesn't have a dollar money printer.
• 36:35
  They none of those things have the money printer.
• 36:38
  It is the government that has the only money printer.
• 36:42
  And when they print money, it's, it's like it's common sense.
• 36:47
  And the world is going through an awakening right now.
• 36:50
  What is happening is that people are waking it, waking up to this
• 36:55
  scam and you're seeing the system fight back.
• 36:59
  That's what the ECB paper is all about.
• 37:01
  That's what the Fed reserve paper is all about.
• 37:05
  They're, they can't explain this away.
• 37:08
  If people knew the reality and the truth about Fiat, they
• 37:14
  wouldn't be OK with it. So they're hoping that they can
• 37:18
  get ahead of it. They're hoping that they can
• 37:21
  divide us. They're hoping that they can
• 37:24
  create two classes, the haves and the haves.
• 37:27
  Haves not, I mean, you heard it in the ECB paper.
• 37:31
  If you don't own Bitcoin, support politicians that are
• 37:34
  anti Bitcoin because somehow that's going to be better for
• 37:38
  you. Like no, it's insane.
• 37:41
  It's stupid. Anyways, Opti, what are your?
• 37:43
  Thoughts on all this? Last comment got me, got me
• 37:47
  cracking up. Yeah, man, I mean, this is the
• 37:50
  crux of the problem here. And This is why you're seeing
• 37:52
  the international bankers drop these, these reports basically
• 37:55
  saying Bitcoin bad, trusted Sprail.
• 37:57
  Like, we got this government money is good.
• 37:59
  And you know, I, I, I, I joked about this on Twitter this
• 38:02
  morning. It's like the ECB and the
• 38:05
  Federal Reserve dropped basically 70 pages to say
• 38:08
  Bitcoin's bad and government money's good.
• 38:11
  And the Satoshi white paper is 9 pages and saying, like Lowell,
• 38:15
  have fun staying poor. We don't believe you.
• 38:17
  And this is the crux of the situation where if you
• 38:20
  understand how the Fiat system works, if you understand what
• 38:22
  happened when they print more money, as we always say, those
• 38:25
  closest to the money are basically able to create money
• 38:28
  for nothing for free, print out a thin air, put it where they
• 38:31
  want to. And by definition of this, it's
• 38:34
  an extraction of wealth from the average person out there that
• 38:38
  isn't close to the money printer.
• 38:39
  And so am I surprised that we're seeing the international bankers
• 38:43
  drop these fund reports. Like we knew this was coming,
• 38:46
  but more people need to know how this works, that you are getting
• 38:50
  poorer if you are saving in dollars.
• 38:51
  If you're an average person with average means and the only way
• 38:55
  you can survive is by using your local Fiat currency, you are
• 38:59
  getting poorer by definition, at the very least 2% every year,
• 39:03
  which means roughly, you know, every 10 years you've lost 50%
• 39:06
  of your purchasing power. Like, why is this the status
• 39:09
  quo? Why is this racket the way that
• 39:12
  we're supposed to live our lives when we have an alternative now?
• 39:14
  And of course, it's Bitcoin, where once you put your money
• 39:17
  into that Bitcoin, it can't get diluted.
• 39:19
  You can't get the base, They can't steal from you.
• 39:21
  And somehow we're the bad guys here because we're going to,
• 39:24
  we're trying to stop our theft from being perpetually stolen
• 39:27
  from. It's like the projection that
• 39:29
  you're seeing come out from the bankers right now.
• 39:32
  It's absolutely laughable on on the surface, but it's absolutely
• 39:37
  nefarious. Like it's absolutely disgusting
• 39:39
  that we're seeing this play out. And they come out here with
• 39:42
  like, you know, a straight face telling us that we're the bad
• 39:45
  guys, that we're the ones hurting other people, when in
• 39:48
  reality they're the ones that literally have the money printer
• 39:52
  perpetuating ORS till infinitum until forever.
• 39:56
  And we're somehow the bad guys because we're like, no, we don't
• 39:59
  trust the system anymore. We need to save in something
• 40:02
  that you. You guys can't mess with and
• 40:04
  again, if the powers that be didn't abuse the trust, we
• 40:07
  wouldn't have had Bitcoin in the 1st place.
• 40:08
  And so again, they just need to look at themselves in the
• 40:10
  mirror. But if you are a position in
• 40:13
  power, person in a position of power and you're running the
• 40:15
  Fiat system, you can't come out here and be like, sorry guys, it
• 40:18
  is our responsibility. You know, we're responsible for
• 40:21
  everyone of you guys getting poor or else it just completely
• 40:24
  exposed the whole system. And This is why we constantly
• 40:26
  come out here and be like, hey, look, this is the problem over
• 40:29
  here. Don't get misdirected, don't get
• 40:31
  distracted by their but the real problem is they control the
• 40:35
  money printer and they're stealing from every single one
• 40:37
  of us. If you don't like that, if that
• 40:40
  makes you mad, well, there's a new technology, a new money
• 40:44
  technology. There is an alternative, and
• 40:46
  it's called just saving in Bitcoin.
• 40:48
  Put your wealth into Bitcoin, continue to put your wealth into
• 40:52
  Bitcoin. And this is how you can protect
• 40:54
  yourself because they have to continue to print money.
• 40:57
  Again, I don't like getting stolen from.
• 40:59
  I don't think anyone likes getting stolen from.
• 41:01
  But when they do it silently, then most people don't
• 41:04
  understand the, you know, the intricacies of the Fiat system.
• 41:09
  It's complicated for a reason so that you don't understand it if
• 41:13
  you're just kind of giving it like a 5 minute look over.
• 41:16
  But this is the game. They want to continue to steal
• 41:18
  from you. If you don't like that, you save
• 41:21
  in Bitcoin. This is how you protect
• 41:23
  yourselves. And this flood is only going to
• 41:25
  continue to increase until education improves on how the
• 41:29
  Fiat system actually works. 100% beautifully said guys, if you
• 41:33
  guys are enjoying the show, help us break 150 likes within the
• 41:38
  1st 45 minutes of the show. There's 403 of you guys watching
• 41:42
  live on YouTube. All you got to do is smash that
• 41:45
  like button. Really helps with the algos and
• 41:48
  helps push the message forward. All right everybody, let's get
• 41:52
  to the news. We have lots to cover today.
• 41:55
  Let's check it out. Here we go.
• 41:58
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  cheese all right everybody let's get to today's news so starting
• 44:27
  off with this. Is an election year, ladies and
• 44:31
  gentlemen, it's an election year and a little Elizabeth Warren is
• 44:35
  up for re election so and the candidate that is running
• 44:41
  against her is a pro Bitcoin candidate.
• 44:46
  So it's something to keep in mind.
• 44:47
  So if you live in Massachusetts, it's an opportunity to to vote
• 44:51
  out this collectivist central planning a politician.
• 44:56
  So anyways, this is the type of gaslighting that I want to talk
• 45:01
  about. This is the type of bullshit
• 45:03
  that I want to talk about because again, the reason that
• 45:07
  politicians are able to get away with this type of rhetoric is
• 45:12
  because people are not informed. She says investing in childcare
• 45:17
  will lower cost for families and raise the wages of childcare
• 45:22
  workers across America. That's a win win.
• 45:27
  You, you hear that at face value.
• 45:30
  And here's the thing about this. If I tell you like that's wrong.
• 45:35
  You look at me and you're like Nico's evil.
• 45:37
  Who wouldn't want to invest in childcare?
• 45:41
  Who wouldn't want a lower cost for families?
• 45:45
  Like, why wouldn't you want to raise the wages of childcare
• 45:51
  workers? Nico, are you a monster?
• 45:53
  What is wrong with you? The devil's in the details
• 45:57
  though. Investing in childcare will
• 46:00
  lower cost for money printing so that the government can decide
• 46:07
  what they're. You don't know.
• 46:08
  You see those bills you don't know?
• 46:11
  Like the Inflation Reduction Act is a great example.
• 46:15
  The vast majority of that bill had to do with renewable energy.
• 46:20
  So think about that. They pass a bill because they
• 46:23
  know that everyone is hurting because of inflation.
• 46:27
  But the reality is that they are using the money that they
• 46:34
  printed to lower inflation to play pay for renewable energies.
• 46:41
  And if they're printing money, that's going to do the exact
• 46:44
  opposite of lower inflation. This is the problem though.
• 46:48
  They can get away with it because people are not aware of
• 46:51
  it. This is this.
• 46:53
  This is this. This is the fundamental issue.
• 46:55
  It comes down to this. You know what, Elizabeth Warren,
• 46:59
  the number one thing she could do to help lower the cost for
• 47:04
  families to help raise wages, Stop printing money.
• 47:13
  If they stop printing money, inflation won't go up.
• 47:18
  Now, that doesn't mean that prices are going to go back
• 47:20
  down. It just means that your
• 47:23
  purchasing power is going to stay relatively stable.
• 47:27
  Now, what about raising wages? Bitcoin is a great example of
• 47:32
  this, and Jeff Booth is the one who originally explained
• 47:35
  explained this. You don't want your your wages
• 47:39
  to increase. You don't want a higher dollar
• 47:43
  amount. What you really want is more
• 47:46
  purchasing power. If you had $100 and that $100
• 47:52
  bought you more next year than it did this year, you wouldn't
• 47:57
  care about making more money. What you really care about is
• 48:02
  the purchasing power of that said money.
• 48:04
  That's what you care about. This is why Bitcoin is so
• 48:08
  important. This is why TikTok next block is
• 48:11
  so important. This is why Bitcoin staying
• 48:13
  decentralized and so and and decentralized and secure is so
• 48:17
  important. This is why central banks are
• 48:20
  writing these reports because the every single day that
• 48:25
  Bitcoin continues to exist. What Elizabeth Warren is
• 48:30
  promising here, that racket is over.
• 48:33
  It's it's done. People won't look at politicians
• 48:37
  like God like figures anymore. They'll look at politicians as
• 48:43
  the cause to the problem. The problem is the God like
• 48:49
  power of being able to create money for free that the rest of
• 48:54
  us have to work for. That is the issue and that is
• 48:58
  the issue that Bitcoin solves peacefully.
• 49:02
  Anyways, here's Elon and Elon is quote tweeting a post by the CEO
• 49:08
  of Coinbase, Brian Armstrong. And the original quote is
• 49:15
  Massachusetts residents should vote for John Deeden.
• 49:19
  Crypto holders in Massachusetts should realize Senator Warren is
• 49:22
  the one who got Gary Gensler his job and encouraged him to
• 49:27
  unlawfully try to kill the crypto industry in America.
• 49:31
  Luckily they did not succeed as we and others fought back.
• 49:35
  She is anti freedom and thinks the government should run all
• 49:39
  financial services and has done enormous harm to this country.
• 49:45
  I 100% agree and I know what you're thinking.
• 49:49
  Maybe you're like Nico, what are you talking about?
• 49:52
  Inflation? That's that's not true or Ron
• 49:54
  Paul, he's an extremist. OK, maybe don't hear it from
• 49:57
  Nico, maybe don't hear it from Opti, maybe don't hear it from
• 50:00
  Ron Paul. Here's Elon Musk, the dude, you
• 50:04
  know, the guy that invented the self driving car and landed a
• 50:08
  rocket, not only landed a rocket, caught a fucking rocket
• 50:11
  out of thin air like crazy shit. Let Let's hear what he has to
• 50:15
  say about inflation. I mean, I really think we've got
• 50:17
  to cut government spending this living this way.
• 50:20
  Ultimately there will be no choice but to cut government
• 50:23
  spending. And, and when the government
• 50:25
  runs a deficit, that is a tax and it's a tax on people who
• 50:31
  have who are saving money. It's, it's a tax on people who
• 50:34
  at least deserve it really, you know, because inflation it just
• 50:40
  so that everyone understands the only, the only, the only thing
• 50:43
  that causes inflation is government overspending because
• 50:45
  the checks never bounce when the, when the federal government
• 50:48
  writes and the checks never bounce.
• 50:50
  So when so government overspending is taxation, it's,
• 50:55
  it's just a pernicious form of taxation that shows up in the
• 50:58
  rising price of goods and services.
• 51:02
  So the only the only answer is to is to dramatically cut
• 51:07
  government spending and have to be efficient.
• 51:09
  You know, spend on on what is only, what is necessary and and
• 51:14
  spend it well. OK, And this is where Elon and
• 51:18
  most people get it wrong. Why did they get it wrong?
• 51:22
  Because it's not about getting in there and cutting government
• 51:27
  spending. It's about taking away the
• 51:30
  ability from government to do this all together.
• 51:33
  Because what's going to happen is you're going to get another
• 51:37
  government and they're going to overspend. the US government
• 51:41
  spent 1.7 trillion with the T. That's the GDP of most countries
• 51:47
  on more. That's the G that that is more
• 51:50
  than the GDP of most countries on planet Earth.
• 51:54
  They spent more. They they collected in tax
• 51:57
  revenue. So how did they pay for
• 51:59
  everything? Elon just explained it deficits.
• 52:02
  They printed the difference. And this is what I want everyone
• 52:06
  to get to take away from today's episode.
• 52:10
  When you hear politicians and central bankers project and
• 52:15
  attack us and say these nasty things about us and say these
• 52:20
  nasty things about Bitcoin, they are guilty of this.
• 52:25
  I would say they are the most guilty of this.
• 52:29
  They're the most guilty of this crime against humanity, taking
• 52:34
  from the have nots to give to the haves, right?
• 52:41
  And then promising you that they're going to give you free
• 52:44
  things. It's not free.
• 52:46
  They're literally taking it out of your money.
• 52:49
  They're taking it when you lose purchasing power.
• 52:51
  That is how they're paying for all these things that are
• 52:54
  supposedly free. And if you're if you're looking
• 52:58
  at Elizabeth Warren's tweet and you're not informed, you don't
• 53:01
  know how money works. You're like, that sounds
• 53:03
  incredible. That sounds great.
• 53:05
  That sounds wonderful. This is the problem that Bitcoin
• 53:08
  fixes. There's 21 million.
• 53:12
  You can't change that. No one has the power to create
• 53:16
  Bitcoin for free at the expense of someone else.
• 53:20
  If you want to create more Bitcoin, you have to pay for
• 53:23
  electricity. You have to pay for the
• 53:25
  hardware. It's a much more equal,
• 53:28
  equitable system than their system, as much as they would
• 53:32
  like you to believe the opposite.
• 53:34
  So yeah, man, I mean, I don't know what else to say, Opti, but
• 53:38
  like, you know, Elon. Is so close, but so far he's so
• 53:43
  close the dude lands rockets, you know invents allegedly no,
• 53:50
  that shit was real I know I'm. Just trolling.
• 53:51
  I'm trolling the chat. I'm trolling.
• 53:52
  The chat and you know, he gets everything right and he's so
• 53:57
  close because he's identified. It's like the gold bugs, like
• 53:59
  they've correctly identified the problem but they haven't
• 54:03
  identified the tool and the tool is Bitcoin.
• 54:07
  Because if it's not decentralized, the government
• 54:10
  will Co opt it and we will end up right where we started.
• 54:15
  This pattern has been repeating itself since the Roman times.
• 54:21
  The Romans did exactly the same shit.
• 54:24
  They debased the currency and civilization fell.
• 54:28
  Decadency rose, moral decay rose.
• 54:32
  It's almost as if it was connected to the corruption of
• 54:36
  money. You can make a very strong
• 54:37
  argument for that. So, yeah, man, I mean, like,
• 54:42
  it's not about getting in Trump and setting up this government
• 54:46
  efficiency committee. I'm not saying that's not
• 54:48
  important, but I'm saying if we don't, and this is what Ron Paul
• 54:53
  was saying in his video, if we don't fix the root problem, the
• 54:59
  root 'cause this will continue to repeat itself until the very
• 55:04
  system ends up eating itself. And what you see in society, the
• 55:11
  moral decay, the corruption, the nihilism is a result of this
• 55:17
  broken, corrupt money. That's why when Bitcoiners adopt
• 55:22
  A sound money standard, all of a sudden they have optimism for
• 55:26
  the future. All of a sudden, they're
• 55:29
  hopeful. All of a sudden they want to
• 55:31
  have babies. All of a sudden they care about
• 55:34
  their health. It's because they've adopted a
• 55:38
  money that isn't corrupted. But most of planet Earth is
• 55:43
  still operating on a corrupted money system, on a Fiat money
• 55:48
  system. And because the Fiat money
• 55:51
  system is corrupted, it's based on theft.
• 55:55
  And because it's based on theft, it requires lies, manipulation
• 56:00
  and coercion to get people to go along with said system.
• 56:06
  So my rant is over. It's Monday.
• 56:09
  I've missed the show. But bro, like, I don't know what
• 56:13
  else to say, man. But like Elizabeth Warren, maybe
• 56:17
  she doesn't know any better. Maybe she doesn't know any
• 56:19
  better, giving her the benefit of the doubt because no one's
• 56:21
  better than their their incentives.
• 56:23
  And if she's been saying this for decades and decades and it's
• 56:27
  been getting her elected into office, maybe her heart's in the
• 56:30
  right place. But just because your heart's in
• 56:33
  the right pace, the road to hell is paved in good intentions,
• 56:36
  man. You know it's time to try
• 56:38
  something new. And in my eyes, if you attack
• 56:41
  Bitcoin, you're attacking peace and prosperity for all.
• 56:45
  Anyways, Opti real quick 'cause I do want to get to the culture.
• 56:48
  Well, my, my little bit is if I'm going full like actually
• 56:51
  meme and getting technical on what must just said, inflation
• 56:56
  is really caused by the expansion of the money supply,
• 56:58
  hence why we're kind of referencing coin clipping from
• 57:01
  the Roman Empire. We've seen this play out
• 57:03
  throughout history for a long time that once they expand the
• 57:06
  money supply, once they counterfeit the money, that's
• 57:08
  where you really get inflation. But as kind of, you know, must
• 57:11
  have said, it is mainly driven by government overspending.
• 57:14
  So you know, he's, he's right. But also, if we're getting
• 57:18
  technical, it's inflation is caused by the expansion of the
• 57:21
  money supply. That's where the root cause of
• 57:23
  inflation comes. And there's a lot of ways that
• 57:25
  they can can do that. But, you know, to his point,
• 57:27
  most of it does come from government overspending.
• 57:29
  With that being said, like Nico was saying, I think that's kind
• 57:34
  of, you know, Elon's hit the nail on the head there.
• 57:37
  But I think the most like nefarious aspect of all of this
• 57:39
  and whether he understands it or he just likes trolling is him
• 57:43
  coming out and not really taking Bitcoin seriously and kind of,
• 57:46
  you know, shilling Doge along the way.
• 57:48
  So like he's he's basically there, but the fact that he
• 57:52
  doesn't take Bitcoin seriously also is kind of like part of the
• 57:56
  problem where like if he truly look, I'll give him the benefits
• 57:59
  of doubt. Maybe he doesn't truly
• 58:01
  understand exactly what's going on and you just think it's kind
• 58:03
  of funny trolling Doge. But if he truly, truly, truly
• 58:07
  understood the problem and took it seriously, then I think we
• 58:11
  would have a whole new conversation and he would go
• 58:13
  full bull tard and, you know, implement Bitcoin payments on
• 58:15
  Twitter and all that stuff, because that is where we really
• 58:19
  fix this. And yes, he's saying a lot of
• 58:21
  the talking points that we believe and that we talk about
• 58:23
  constantly. But until he goes full Bitcoin
• 58:26
  only on this, then it's kind of like, OK, like, you know, good
• 58:31
  rhetoric. But you know what we say here on
• 58:33
  the show all the time, it's like a lot of people can pinpoint the
• 58:36
  problem, but very few people are talking about the solution.
• 58:39
  And the solution is obviously get on the money that they can't
• 58:41
  coin clip, AKA Bitcoin, something that can't be the base
• 58:44
  because unless we unless we fundamentally get to the root
• 58:47
  cause, nothing's going to change.
• 58:50
  And as we constantly show on the show, the root cause is the Fiat
• 58:53
  money system that we are are living in.
• 58:55
  As long as the powers that be can clip your coins, can expand
• 58:59
  the money supply, we are going to continue to get inflation.
• 59:02
  And things aren't going to get cheaper.
• 59:03
  They're only going to get more expensive.
• 59:05
  This is by design. 100 percent, 100% agree with that.
• 59:09
  All right, everybody, stay tuned.
• 59:11
  We still got the culture segment.
• 59:13
  Strap in, It's going to be a great show.
• 59:15
  Here we go. Hi everybody, you want to scan
• 59:30
  the QR code on your screen right now.
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  if you want to ask me a question, send me a message on
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  So anyways, I'm excited to. Yeah, yeah.
• 1:00:23
  Let me let me full screen myself here.
• 1:00:26
  All right, guys. So you know, Nico and I have
• 1:00:28
  been around a couple Bitcoin cycles and now that we're
• 1:00:31
  entering in a new bull run or you know, the next leg up of the
• 1:00:34
  bull run, you start to see a trend.
• 1:00:37
  Is that the journalists out there or even some Bitcoiners
• 1:00:40
  themselves, we all kind of try to do this thing that like as
• 1:00:43
  the price goes up, we try to find reasons for why the price
• 1:00:46
  is going up. And I'm starting to see this
• 1:00:48
  trend pop out. And again, this is an election
• 1:00:50
  season And you know, I don't care what side of the aisle you,
• 1:00:53
  you go on. You know, some people think that
• 1:00:55
  Trump will be better for Bitcoin.
• 1:00:57
  Some people are kind of on the acceleration as camp of like
• 1:01:00
  Kamala is going to be better for Bitcoin.
• 1:01:01
  Or even I've seen in the chat like, oh, under who, which
• 1:01:04
  president did the SEC approve of Bitcoin?
• 1:01:07
  You know, what were the, the price gains in regards to
• 1:01:10
  Bitcoin the last four years before the, you know, the
• 1:01:12
  previous four years and etcetera, etcetera, etcetera.
• 1:01:14
  And so as the Bitcoin price starts to go up, everyone always
• 1:01:19
  looks for the reasons for why the price goes up.
• 1:01:21
  And we're starting to see the same trend right now.
• 1:01:24
  And so I know Nico has been going really hard on the
• 1:01:26
  importance of politics in this election.
• 1:01:29
  And I, I tend to agree with him. I would like four years of cover
• 1:01:32
  versus 4 years of us getting fought harder in regards to
• 1:01:35
  being a Bitcoiner. We're seeing this very dangerous
• 1:01:37
  trend. But I'm over here on Forbes and
• 1:01:39
  we're starting to see the trend that I'm talking about play out.
• 1:01:41
  So this was October 15th. So basically last week we got a
• 1:01:46
  headline from Forbes on the digital app assets page.
• 1:01:48
  It goes big news quote Donald Trump declares crypto is the
• 1:01:52
  future after blowing up the Bitcoin price.
• 1:01:55
  So this one is kind of a little negative, but it's still looking
• 1:01:58
  for reasons for why the Bitcoin price goes up.
• 1:02:00
  And again, you got to remember the heuristic here.
• 1:02:02
  Usually in the bear market, no amount of good news will drive
• 1:02:05
  the Bitcoin price. It'll usually actually dump the
• 1:02:07
  Bitcoin price and during a bull market, it doesn't matter if
• 1:02:11
  it's good or bad news, the price just seems to not react at all.
• 1:02:14
  It's just going to continue to go up.
• 1:02:16
  And so as humans, as people that like to notice patterns, we
• 1:02:19
  always like to find the reasons for why Bitcoin is going up.
• 1:02:22
  And we're seeing more of this, you know, bitcoins, Trump bump,
• 1:02:25
  Stripe makes big crypto play again, another headline from
• 1:02:28
  Forbes and just reading a little bit of this article, Trump bump
• 1:02:31
  raises hopes for another October.
• 1:02:33
  October has been usually the most bullish month and without
• 1:02:36
  an immediate or obvious catalyst, which I would argue
• 1:02:39
  the likely cause of this push, which is growing expectations of
• 1:02:42
  a Donald Trump victory in the presidential election next
• 1:02:44
  month. I've been hearing a lot of
• 1:02:46
  narratives and trends like this going around Twitter right now
• 1:02:49
  that obviously if Trump gets elected, it's going to be way
• 1:02:51
  more bullish for Bitcoin considering how harsh the Biden
• 1:02:54
  administration has been on Bitcoin.
• 1:02:57
  And then last quote here from this article, a unified
• 1:02:59
  government could benefit crypto in 2025 by making the passage of
• 1:03:03
  key legislation that would regulate stable coins and settle
• 1:03:05
  turn forward between the SEC and CFTC more likely.
• 1:03:09
  You guys know my take on stable coins.
• 1:03:11
  I could care less for them, but I think that's kind of the trend
• 1:03:14
  that most of us are seeing. And then even Nico kind of
• 1:03:17
  repeats on the show all the time that if Trump gets elected,
• 1:03:20
  we're going to have a more favorable regulation and
• 1:03:23
  oversight in Bitcoin, which is obviously good for us.
• 1:03:26
  And then kind of trolling a little bit because you know,
• 1:03:28
  since I have been kind of nuking the meme review, I do got to
• 1:03:30
  drop a meme in here for you guys.
• 1:03:31
  But Zach Bull on Twitter kind of hit this really good He goes so
• 1:03:35
  Donald Trump launches a crypto project and then ten days later
• 1:03:38
  starts working at McDonald's. You cannot convince me.
• 1:03:40
  We we kind of trolled on our Twitter.
• 1:03:45
  It goes if the bull run doesn't start up, we will all be at
• 1:03:47
  McDonald's with the picture of Trump at McDonald's.
• 1:03:51
  So kind of just trolling it a little bit.
• 1:03:52
  But the the heuristic goes the same that once you enter into a
• 1:03:56
  bull market, no amount of bad news or even good news is what's
• 1:04:00
  really driving the price. I like to think of it more that
• 1:04:02
  the cycles are still in play. Of course, Bitcoin is that sly
• 1:04:05
  roundabout way. But as we're seeing right now,
• 1:04:09
  the legacy system, the legacy traditional system and politics
• 1:04:12
  are landing on our front door. And it's very important that
• 1:04:15
  I've been saying this for a while, very important for us to
• 1:04:17
  keep our head on a swivel. And yes, you know, it's our job
• 1:04:20
  here on simply Bitcoin to cover recent developments on Bitcoin,
• 1:04:24
  whether that's corporations like BlackRock heading into Bitcoin,
• 1:04:26
  whether that's politics mission, talking about Bitcoin favorably
• 1:04:29
  or even negatively. I think it's also very important
• 1:04:32
  to remember like we've been covering this whole show today
• 1:04:35
  with the reason for bitcoins creation in the 1st place.
• 1:04:38
  You know, it's in the genesis lot, Chancellor on the brink of
• 1:04:41
  second bailout. The powers that be have abused
• 1:04:44
  the trust of the average citizen by, you know, coin clipping, the
• 1:04:48
  money supply, expanding the money supply in all of it or a
• 1:04:51
  way. And what we're doing with
• 1:04:53
  Bitcoin is creating a parallel system that in the moment is
• 1:04:57
  going to have a symbiotic relationship with the
• 1:05:00
  traditional financial system. Again, remember what the ECB
• 1:05:03
  article or report said this morning, Basically.
• 1:05:07
  That you know. It's our fault that the Fiat
• 1:05:09
  system is collapsing. We're to blame for the problems
• 1:05:11
  when in reality, they're the reason to be blamed in the in in
• 1:05:15
  the 1st place because they abuse our trust and hence why Bitcoin
• 1:05:18
  was created in the 1st place. But there was a really good
• 1:05:20
  article by Shinobi, you know, Brian trolls on Twitter.
• 1:05:24
  He's been going really hard, kind of being more of a
• 1:05:26
  contrarian on Twitter so that we can keep our heads on a swivel.
• 1:05:29
  Also, you know, Mark Goodwin and Whitney Webb have been on the
• 1:05:31
  same beat. And it's not about fighting
• 1:05:33
  Bitcoin. It's more about keeping yourself
• 1:05:35
  honest and understanding, understanding and remembering
• 1:05:37
  why we do what we do and I thought this was a good opinion
• 1:05:40
  piece. I'm not going to read the whole
• 1:05:41
  thing, just the headlines in one paragraph here, but you know, be
• 1:05:44
  on Bitcoin magazine. And this is the point I think
• 1:05:47
  that all of us Bitcoiners need to remember to succeed.
• 1:05:50
  Bitcoin needs something new, not more of the same replicating the
• 1:05:53
  same types of services and applications of the legacy world
• 1:05:56
  on Bitcoin necessitates interacting with the legacy
• 1:05:59
  world, giving them leverage over Bitcoin.
• 1:06:01
  And this is what we're seeing play out right now in regards to
• 1:06:03
  Bitcoin. Yes, it is a great development
• 1:06:06
  that the powers that be are kind of, you know, legitimizing our
• 1:06:10
  movement. But even the ECB article kind of
• 1:06:13
  hit the nail on the head when they're like, oh, wait, I
• 1:06:15
  thought Satoshi created Bitcoin so that it didn't need to trust
• 1:06:18
  third parties. And now bit corners are
• 1:06:20
  cheerleading government and corporations jump Bitcoin, which
• 1:06:24
  to some extent I kind of agree. But us bit corners, we do get
• 1:06:27
  excited when people talk about Bitcoin because, you know, we're
• 1:06:30
  no longer the crazy guys in the room like we are the what's
• 1:06:33
  that? What's that mean?
• 1:06:34
  We are the dog wagging the tail. If you know that quote anyways,
• 1:06:38
  just reading this article, I think there's just some good
• 1:06:40
  signal to, you know, keep keep us honest and sober in the
• 1:06:44
  movement as we start to move up in price.
• 1:06:46
  And you know, of course, we're all here to see number go up.
• 1:06:50
  We're all here to see our wealth start to go up and not get
• 1:06:54
  destroyed. But it's also about the movement
• 1:06:56
  of having freedom money. That is very important.
• 1:06:59
  And I know most of us, you know, me and Nico are just talking
• 1:07:02
  heads. You're probably in the chat just
• 1:07:03
  stacking stats. But I think it's important for
• 1:07:05
  us to remember that the real heroes here in the whole Bitcoin
• 1:07:09
  movement are the developers and the people building the tools so
• 1:07:12
  that we can ensure that big one stays decentralized and freedom
• 1:07:15
  money does get propagated and adoption happens How I think it
• 1:07:19
  should be. And of course I would say should
• 1:07:21
  have could have would have don't exist.
• 1:07:23
  But it is important to have the main point ethos continue to
• 1:07:26
  play out and not get Co opted anyways.
• 1:07:28
  Well, consensus on Bitcoin is not governed by voting.
• 1:07:32
  It is governed by participation. That is those actors that
• 1:07:35
  actually receive Bitcoin and economic activity and those who
• 1:07:38
  transact and generate revenue for minors.
• 1:07:40
  If you aren't doing one of these two things, your note has no
• 1:07:43
  influence on network consensus, especially during the instance
• 1:07:46
  of a chain split or contentious. That's just a cold reality
• 1:07:50
  Bitcoin is focusing on. Building applications that
• 1:07:52
  leverage or interface with the legacy system are just giving
• 1:07:55
  the system we are trying to escape a bar wedge into Bitcoin
• 1:07:58
  the legacy system can use to leverage against it.
• 1:08:01
  It is foolish, short sighted, and a major tactical error.
• 1:08:04
  The path forward is the focus on sustainable applications that do
• 1:08:07
  not require that interface that can function totally independent
• 1:08:11
  of the legacy system while still generating revenue for miners
• 1:08:15
  and application users and operators.
• 1:08:17
  This is the only way forward in terms of encouraging Bitcoin
• 1:08:19
  adoption without slowly ceding more and more influence over the
• 1:08:23
  network and protocol to the exact types of players we set
• 1:08:26
  out to escape in the 1st place. This is the crux of the
• 1:08:29
  conversation, guys. We talked about it constantly.
• 1:08:31
  We talked about it in the beginning with the ECB report
• 1:08:35
  that as much as we, you know, applaud the legacy system
• 1:08:40
  landing on our doorstep, kind of legitimizing our movement and
• 1:08:43
  then realizing that, Oh my God, you need to hold a non non
• 1:08:48
  sovereign money, AKA freedom money, Bitcoin, something that
• 1:08:51
  isn't controlled by a small cabal of people.
• 1:08:53
  And people are waking up to this.
• 1:08:54
  It is very important to remember that we cannot allow Bitcoin to
• 1:09:00
  get Co opted by the powers that be, hence why we tell you guys
• 1:09:03
  to run the nodes to take Bitcoin into custody.
• 1:09:06
  Because there is you know, a growing trend of people saying
• 1:09:09
  like oh, custodial solutions are fine and trusted third parties
• 1:09:12
  are OK and 6102 attacks are never going to happen.
• 1:09:16
  But I would just push back and basically say like, only the
• 1:09:19
  paranoid survive here. And so hey, maybe we are
• 1:09:23
  paranoid crypto anarchist or what have you, which we'll cover
• 1:09:26
  tomorrow for you guys. But it is important to remember
• 1:09:30
  that as we're seeing the attacks are landing on our front door
• 1:09:33
  and they're only going to increase so that, you know, keep
• 1:09:36
  your head on the swivel that there is going to be narratives
• 1:09:39
  to attack Bitcoin, especially as Bitcoin starts to break into the
• 1:09:42
  six figure ranges and you know, everyone's going to look for
• 1:09:46
  reasons for the price to go up. I would just argue it's because
• 1:09:49
  Bitcoin's doing its own thing. Bitcoin literally has no clue on
• 1:09:53
  what the Fiat system is doing, who interacts with it.
• 1:09:55
  All it knows is, is more economic power moving away from
• 1:09:58
  the Fiat system and going into Bitcoin.
• 1:10:01
  And if that is happening, the number go up, it's going to go
• 1:10:03
  on. If the the network stays
• 1:10:05
  decentralized, if hash power continues to go up, then Bitcoin
• 1:10:08
  is going to succeed. And no amount of funding from
• 1:10:11
  central bankers and international bankers is going
• 1:10:13
  to stop this because people are slowly but surely waking up to
• 1:10:17
  the incentives of Bitcoin. I wanted money that cannot be
• 1:10:20
  controlled. I think that's a superior
• 1:10:22
  technology, money technology, and I think more people are
• 1:10:25
  waking up to this as we see people dropping government debt
• 1:10:28
  and waking up to the nefarious silent powers that banks have by
• 1:10:32
  kicking people off, closing bank accounts, creating more money,
• 1:10:36
  inflating the money supply and making every single one of us
• 1:10:39
  poorer. So again, little opti PSA of
• 1:10:42
  guys, remember why we're here. It's for freedom money.
• 1:10:45
  It's because the powers that be have abused our trust and This
• 1:10:48
  is why we have a superior money and This is why you're seeing
• 1:10:52
  those incentivize is to print more money and you know, the
• 1:10:56
  base our currency and have a job in the Fiat system are out here
• 1:11:01
  blaming us bitcoiners for their problems and and what they've
• 1:11:04
  caused to us. So anyways, I know the elections
• 1:11:07
  coming up. I'm sure we're going to see a
• 1:11:10
  price rise either way after the election, but I think capital
• 1:11:13
  sitting on the sidelines waiting and we'll see you in two weeks.
• 1:11:16
  What happens with the Bitcoin price.
• 1:11:17
  But remember, keep your tinfoil hats on right now guys, because
• 1:11:21
  the great Goliath in has landed on our doorstep and it is what
• 1:11:25
  it is. This means we are winning.
• 1:11:27
  Yeah, exactly. It definitely means we're
• 1:11:29
  winning. We're flak is heaviest over the
• 1:11:31
  target. I love that quote the best.
• 1:11:34
  I would say like, and you know, Bitcoiners are inherently
• 1:11:40
  anarcho capitalist, so they don't, they don't like the state
• 1:11:43
  and they're just like no, anything related to the state is
• 1:11:47
  untrustworthy. And and in a way with them.
• 1:11:49
  I agree. But like, I I look at it from a
• 1:11:53
  very like simplistic type of mindset, which is like you
• 1:11:58
  either control the men with guns or you don't control the men
• 1:12:00
  with guns. So you obviously want
• 1:12:04
  politicians in positions of power that control the men with
• 1:12:08
  guns to have a favorable outlook on Bitcoin.
• 1:12:12
  You don't want politicians that control the men with guns to
• 1:12:15
  have an unfavorable outlook on Bitcoin.
• 1:12:18
  That's exactly why they mentioned Donald Trump and RFK
• 1:12:23
  in the European Central Bank research paper.
• 1:12:26
  It terrifies them that they that we will have enough of a
• 1:12:32
  political majority to effectuate certain policy that is anti
• 1:12:38
  central bank. It terrifies them, right?
• 1:12:42
  And at the end of the day, you know that's what's happening,
• 1:12:45
  right? You're seeing mass adoption of
• 1:12:48
  Bitcoin and and crypto in the United States and worldwide.
• 1:12:53
  And so it's going to become harder by the day for politician
• 1:12:58
  the likes of Elizabeth Warren to try to convince people to vote
• 1:13:03
  against their their incentives, right?
• 1:13:07
  Like you're not going to be able to run for office and win in
• 1:13:10
  2028 running on an anti crypto type of thing.
• 1:13:15
  So they have to be malicious about it.
• 1:13:16
  They have to lie to you about it.
• 1:13:17
  They have to be like, oh, no, I'm not really running on that,
• 1:13:20
  even though they totally are in the background.
• 1:13:22
  So again, don't pay attention to what they say.
• 1:13:24
  Pay attention to what they do. Anyways, this was October 21st,
• 1:13:27
  2024. I'm your host, Nico.
• 1:13:30
  It's my legendary Co host, Optimus Fields.
• 1:13:32
  This is simply Bitcoin live for today if you guys.
• 1:13:34
  Enjoyed the show? Smash the like button consider
• 1:13:36
  subscribing if you feel like we provided you value we will be
• 1:13:40
  back tomorrow for a brand new episode.
• 1:13:43
  Opti will be filling in for me on Thursday and Friday will be
• 1:13:46
  in Lugano for the Plan B forum. But it's it's going to be a
• 1:13:51
  great time, everybody all. Right.
• 1:13:52
  Love you all. We'll be back tomorrow.
• 1:13:56
  You buy bitcoinwell.com, a Bitcoin only platform, on a
• 1:13:59
  mission to enable financial independence.