Latest / Simply Bitcoin / NEW Government Report CONFIRMS The US Is Secretly BUYING!!!! | EP 1300

Transcript

NEW Government Report CONFIRMS The US Is Secretly BUYING!!!! | EP 1300 · Simply Bitcoin

• 0:00
  The highly anticipated report from the US government just
• 0:03
  dropped and it's sending a huge shockwave to the rest of the
• 0:07
  world. This 166 page report outlines
• 0:12
  America's plan and framework for the Bitcoin accumulation
• 0:16
  strategy, as well as so much more.
• 0:19
  It also mentioned self custody, which I find quite interesting.
• 0:22
  But before we break down the report, let's listen to what
• 0:25
  Trump's right hand man and the Bitcoin strategy behind and said
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  just after the report dropped. Let's check out the clip and
• 0:33
  then opt deny. We'll talk about it.
• 0:36
  What's the update on a potential Bitcoin strategic reserve?
• 0:40
  Well, look, we, we have it, it's been, it's been established the
• 0:43
  executive order and the SPR. We also have the strategic
• 0:46
  National Stockpile, you know, I or the, sorry, the digital
• 0:50
  assets National Stockpile. I think that one, we wanted to
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  recognize Bitcoin for being unique and we talked about, you
• 0:55
  know, what that looks like and kind of the threshold that that
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  Bitcoin is created, you know, it's, it's in a class of its own
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  and everyone recognizes that. But we also wanted to give
• 1:04
  credence to the work in the developments happening across
• 1:06
  other ecosystems. And that's why we have this
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  national stockpile alongside, you know, this, this actually
• 1:11
  requires some labor to get this set up properly.
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  You have to build the infrastructure, you have to make
• 1:15
  sure that you're you're crossing your TS and dotting your eyes to
• 1:18
  get this done the right way and have long term, long term
• 1:21
  success with it. But I've said at nauseam, you
• 1:23
  know, we do believe in accumulation, obviously in
• 1:26
  budget neutral ways as the president's outlined, but there
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  are countless ways that we can engage in that.
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  We'll act on those that can be most expeditiously implemented
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  and I think that, you know, people will be very pleased with
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  the direction that we go in and we'll start moving on that in
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  short order. But obviously in this report, if
• 1:41
  you read the first digital asset CEO, we're tasked with creating
• 1:44
  a clear and robust regulatory framework.
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  And so that's what we focus on here.
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  We understand the importance of the strategic Bitcoin reserve or
• 1:51
  you know, enormous fans of of Bitcoin in the Bitcoin community
• 1:54
  and we want to deliver for them as well, and I'm certain that we
• 1:56
  will. How much Bitcoin does the
• 1:58
  federal government have? I can't.
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  Discuss that right now. Give.
• 2:01
  Us a ballpark. I can't.
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  Is it going to be made public? There are there are several
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  reasons in which we're we're not disclosing that at this time.
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  There might be a time in which we do.
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  But what I will say is, you know, we want as much as we can
• 2:12
  possibly get and that's what I continue to say and we're going
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  to continue to work on that like.
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  We want as much as we can get. And again, that is a member of
• 2:24
  the executive branch talking about Bitcoin.
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  And this is a report that I think the community was
• 2:32
  expecting for a very, very long time now since Trump got into
• 2:37
  office early on this year and he made an executive order
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  basically asking for the report, the reports here.
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  But again, I think Opti and I were talking about this, right?
• 2:47
  Like were we expecting more from the report but before Abdi?
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  Well, I think the whole community was expecting a lot
• 2:55
  more. I think kind of the hype around
• 2:57
  it and I think you saw the kind of price react to it.
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  And before we kind of get into all of the details, I think
• 3:03
  everyone was expecting a little more.
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  Obviously, I think a lot of Bitcoiners, including myself,
• 3:08
  don't really understand how politics works per SE.
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  And so you expect a lot more coming out like very quickly.
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  But I think Bo Hines summed it up really well.
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  Again, before we break down a lot of the stuff in it, he's
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  like we got to lay out the framework, the regulatory
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  framework, We got to give the market clarity.
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  Before we start announcing all of this stuff, though, it was
• 3:27
  interesting how Koi was on how much Bitcoin they actually own,
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  whether they're accumulating more.
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  But it is interesting. He's like, we have it, which
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  makes you think and speculate, OK, You know, the rumors
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  recently, does the US have all the Bitcoin that they claim they
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  have? If you're reading between the
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  lines, it seems like we do. And it seems like maybe they're
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  accumulating. Really, we have no no idea what
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  they're doing. Obviously they're being very
• 3:53
  tight lipped about what they're actually doing.
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  But there is a lot in this report that does kind of explain
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  though, maybe if you have been following along on this, like, I
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  don't know if anything new per SE came out like there's no
• 4:06
  breaking, breaking news coming out of this.
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  But it was a huge report. Like I didn't even get enough
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  time to read the whole thing. I skimmed through it and, you
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  know, read some different chapters and we'll we'll talk
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  about that more. So Anika, just keep going.
• 4:18
  Yeah, so let's let's do a a breakdown.
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  So this was released yesterday, July 30th, 2025.
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  I can never have imagined this, you know, just a couple years
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  ago, just last year with the previous administration.
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  So for the audio listeners fact sheet, the President's Working
• 4:36
  Group on Digital Asset Market releases recommendations to
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  strengthen American leadership in digital financial technology.
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  It goes on to say ushering in the golden era of crypto.
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  When President Trump took office in January, he promised to make
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  America the crypto capital of the world.
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  Today, the President's Working Group on Digital Asset Markets
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  is releasing report that provides a road map to make that
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  promise of reality. Established by President Trump's
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  Executive Order 14178, the working group consists of
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  officials throughout the federal government and was tasked with
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  submitting a report that recommends regulatory and
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  legislative proposals to advance the policies established in the
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  order. By implementing these
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  recommendations, the policy makers can ensure that the
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  United States leads the blockchain revolution and ushers
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  in the golden era age of crypto, positioning America as the
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  leader in digital asset markets. The working group determined
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  that a fit for all-purpose market structure framework is
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  essential to support growth and innovation in the digital assets
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  industry. To protect consumers and keep
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  the United States at the forefront of digital asset
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  development, the Working Group recommends that Congress builds
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  on the massive bipartisan House of Representatives vote clarity
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  by enacting legislation that eliminates existing gaps and
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  regulatory oversight by providing the CFTC authority to
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  oversee spot markets for non security digital assets.
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  Embrace D5 technology, and recognize the potential of
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  integrating such technology into mainstream finance.
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  The CS, the SCC, and the CFTC use their existing authorities
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  to immediately enable the trading of digital assets at the
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  federal level by providing clarity to market participants
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  on issues such as registration, custody, trading, and record
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  keeping. Allow innovative financial
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  products to reach consumers without bureaucratic delays
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  through the use of tools like safe harbors and regulatory
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  sandboxes. Modernizing bank regulation for
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  digital assets. The Trump administration has has
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  already ended Operation Choke .2 Point O once and for all by
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  working to end regulatory effort that deny banking services to
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  the digital asset industry. A sound and predictable banking
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  regulatory framework that embraces the promise of
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  blockchain technology will allow depository institutions to meet
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  customer demand for core banking services for digital assets and
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  making it easier for those customers to access digital
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  asset markets. The Working Group recommends
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  that regulators take additional actions to relaunch crypto
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  innovations. Efforts to clarify permissible
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  bank activities in custody, tokenization, stablecoin
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  issuance, in the use of blockchains.
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  Promote transparency regarding the process for institutions to
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  obtain banking bank charters or Reserve Bank master cards.
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  Bank master accounts. I think Caitlin Long's gonna be
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  very happy about that one. Ensure that bank capital rules
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  are aligned with the actual risks associated with digital
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  assets, not simply the fact of their presence on a distributed
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  Ledger. Strengthening the the role of
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  the US dollar, combating illicit finance in the digital age, and
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  ensuring fairness and predictability in digital asset
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  taxation. So again, I think bitcoiners
• 7:56
  were obviously expecting a lot more.
• 7:58
  I think it's been seven months. Someone in the chat saying
• 8:01
  sideways summer when Trump was inaugurated, the price of
• 8:04
  Bitcoin was at 109,000. We're currently sitting at
• 8:08
  118,000, right? And I've been saying this from a
• 8:12
  news perspective. This has been one of the most
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  bullish cycles in Bitcoin's history.
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  But from a price action perspective, it's been a little
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  bit slow. It's been a little bit slow.
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  Anyways, so they have a whole page on just Bitcoin and crypto
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  on on the White House website. Here is directly from
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  whitehouse.gov. Donald President Donald Trump's
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  is strengthening American leadership and digital financial
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  technology. You have like you know, Trump
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  and his prime walk in the halls of the of the White House on the
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  outside and it goes on to say the American story is 1 of
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  innovation from the railroads that links sea to shining sea to
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  the Internet that connected the the entire world.
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  American entrepreneurs have led the build out of next generation
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  technologies in every generation since our founding.
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  Crypto should be no different. The Working Group, as the author
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  of this report, endorses the notion that digital assets and
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  blockchain technologies can revolutionize not just America's
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  financial system, but systems of ownership and government
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  governments world economy wide. American entrepreneurs who
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  pioneer new industries using these technologies deserve both
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  clarity on the policies that affect their efforts and praise
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  for the progress they have made. The working group further
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  believes that the that the movement underpinning cryptos
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  development, largely grass roots and dedicated to building a more
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  open and efficient financial system for all, should be
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  recognized. No president gave this movement
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  the recognition it deserves until President Trump.
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  That's true. The Working Group encourages the
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  federal government to Operation Operationalize President Trump's
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  promise to make America the crypto capital of the world and
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  adopt A pro innovation mindset towards digital assets and
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  blockchain technologies. The following core
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  recommendations, if implemented, will ensure crypto becomes a
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  hallmark of the new American Golden Age.
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  So here's the entire report. I believe it's 166 pages and it
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  keeps just talks about the whole industry and what the plan is.
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  Here's some pages that really stuck out to me, specifically
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  this one as it relates to self custody.
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  Here's Nick Newman, CEO of Casa, and he says, I've been saying
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  this thing for years, that self custody is fundamentally aligned
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  with American values around property rights.
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  It's surreal to now see this being confirmed at the highest
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  levels of our government in a bipartisan way.
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  So it goes on to say Congress should evaluate the self custody
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  language that is included in clarity and codify the following
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  principles through legislation that reinforce the importance of
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  self custody. Principle 1.
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  The importance of US individuals maintaining the capability to
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  lawfully hold or custody their own digital assets without a
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  financial intermediary. Principle 2.
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  The importance of enabling US individuals to engage in lawful
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  direct digital asset transfers that do not involve a financial
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  intermediary with another individual that lawfully self
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  custodies digital assets. Congress shall codify principles
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  regarding how control over an assets impacts BSA obligations,
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  particular for money transfers through legislation such as the
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  Blockchain Regulatory Certainty Act, which has been incorporated
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  into Clarity. Specifically, such legislation
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  could codify that a software provider that does not maintain
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  total independent control over value is not engaged in money
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  transmission for purposes of the BSA.
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  So this is one of the things that stands out to me the most
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  because this is paper Bitcoin summer after all, right?
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  And what we, the new cycle of this cycle has been specifically
• 12:02
  about Bitcoin treasury companies, that has been the
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  narrative. I think what Michael Saylor has
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  done for the industry has been fantastic.
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  I think what a lot of these treasury companies are going to
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  do for the industry are going to be fantastic.
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  But we all have to remember fundamentally what's going to
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  change the world for the better. What we all want and aspire as
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  human beings and just as people is freedom, right?
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  The freedom to transact and the freedom to hold something that
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  doesn't get debased. And I think honestly like that
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  should be something that you shouldn't have to ask permission
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  to do, right? And what Bitcoin brought to this
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  world is this radical concept that you can memorize a 12 to
• 12:55
  2024 word seed phrase. You can theoretically store
• 13:00
  1,000,000 billions, trillions of dollars in your mind, right?
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  And that gives you a tremendous amount of power to vote with
• 13:09
  your feet if you don't like the laws of your jurisdiction.
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  And I've heard so many stories coming out of Venezuela where
• 13:17
  people want to escape the regime and they how do you transfer out
• 13:23
  of Venezuela? You don't do that.
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  So what do they do? They buy Bitcoin, put in a
• 13:29
  harder wallet and they get on a plane or they cross the border
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  and they're able to take everything they own with them.
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  When you hear these horror stories of Lebanon and Greece
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  and you hear, and it even happened here in the United
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  States of these so-called bank runs, people forget people lost
• 13:50
  their life savings, right? So this idea that you're
• 13:54
  outsourcing the personal responsibility of the custody of
• 13:57
  your wealth and the way that I see wealth is energy, right?
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  And when you're outsourcing that to someone else, it might feel
• 14:06
  safe, but you're really giving total responsibility to that
• 14:10
  other person to determine the outcome of your life, right?
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  The direction of your life. And that is a very radical
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  concept, right? It's completely outside the over
• 14:22
  attend window, but it's true, right?
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  So the fact that the White House came out with this specifically
• 14:30
  saying we got to protect self custody and the rights of
• 14:33
  Americans to take self custody is incredibly important.
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  And of course, I have to give a shout out to Dennis Porter
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  because he's done. He's been doing incredible work
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  on the state level regarding this.
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  And then principle #2 the importance of enabling US
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  individuals to engage in lawful, direct, direct digital asset
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  transfers that do not involve financial intermediary with
• 14:54
  another individual that lawfully self custodies digital assets.
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  So what that basically means is self custody should be allowed
• 15:01
  for individuals. And if me and Opti send each
• 15:06
  other Bitcoin, that should be fine too.
• 15:10
  That's what the White House is signaling.
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  Now, why would they signal this? Because you, you have to read
• 15:15
  between the lines. And this is really what I want
• 15:18
  to focus on in this entire report, because this is simply
• 15:21
  Bitcoin after all, right? And at we've always said this,
• 15:26
  the revolution, what is going to fundamentally change the world?
• 15:30
  What is going to fix wealth inequality, what is going to fix
• 15:34
  your ability to save into the future is you buying earnings,
• 15:39
  saving in Bitcoin, putting that Bitcoin into self custody and
• 15:44
  just switching to a, a Bitcoin standard.
• 15:47
  That is what's going to change your life.
• 15:49
  That's what's going to change the lives of everyone.
• 15:52
  But you have to understand that. OK, so if we can do that, why
• 15:58
  would they want to stop us from doing that?
• 16:01
  Well, I mean, there was a clip. I, we can't play it for you
• 16:03
  guys. We don't have a clip, but
• 16:04
  essentially there's a clip that was circulating around X
• 16:08
  yesterday and it was talking about, it was basically the
• 16:12
  European Central Bank admitting that if they don't roll out
• 16:16
  these CBD CS, they're going to lose their ability to manipulate
• 16:22
  money, right? And I'm, I'm simplifying it
• 16:25
  here, but that, that was the TLDR, right?
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  So these two principles are so important because I think what's
• 16:36
  going to happen in the next 5 to 10 years is a bigger and bigger
• 16:41
  percentage of the world population is going to opt out
• 16:47
  of their local Fiat currencies. And if you're a government or if
• 16:52
  you're a nation state that depends on being able to print,
• 16:59
  to pay, to essentially fund yourself, you're obviously not
• 17:05
  going to like that very much. You're not going to like that
• 17:08
  very much because what it does is it essentially forces the
• 17:11
  state to live within its means, right?
• 17:15
  And then it also empowers the individual to say, hey, you know
• 17:18
  what? I kind of don't like the
• 17:20
  situation here. I can get up and go if I want
• 17:23
  to. I can vote with my feet, so to
• 17:26
  speak. So as much as all these things
• 17:30
  about Bitcoin that you guys appreciate, you guys admire, to
• 17:33
  the new watchers of the show, you guys have to understand what
• 17:37
  makes Bitcoin special is your ability to take custody of it,
• 17:42
  and what makes Bitcoin special is your ability to transact
• 17:46
  peer-to-peer. That's what makes Bitcoin
• 17:48
  special. Before Bitcoin, if I wanted to
• 17:52
  just send Optia $100, I would have to go on Cash App, I would
• 17:56
  have to go on Zelle, I would have to go on PayPal, I would
• 17:59
  have to go on all these options. By the way, they're fantastic,
• 18:02
  they're great, but fundamentally they're still intermediaries.
• 18:07
  And with an intermediary, history has shown that if
• 18:13
  there's enough political pressure, those intermediaries
• 18:16
  will be weaponized, they will be Co opted, they will be captured.
• 18:21
  That isn't the case with Bitcoin.
• 18:25
  So this whole report, this is the thing that matters to me the
• 18:30
  most, and I'm super glad the administration is on board and
• 18:35
  understands what needs to happen now.
• 18:38
  I'm happy about the Clarity Act. I'm also happy with Dennis
• 18:41
  Portis's work on the state level because multiple states have
• 18:45
  passed laws that protect the right for individuals to take
• 18:49
  self custody. But what you can do is make your
• 18:53
  voices heard because fundamentally, guys, you have to
• 18:56
  understand this is going to be the defining issue.
• 19:02
  This is going to be the pivotal shift that changes the direction
• 19:07
  of which humanity is heading. This is it right here.
• 19:12
  It's your ability as an individual to reclaim back your
• 19:16
  financial sovereignty by opting out of the Fiat system and
• 19:21
  putting your energy, your time, and your work into a money that
• 19:25
  cannot be debased. That is the pivotal
• 19:29
  conversation. And also your ability to use
• 19:32
  that money with other individuals.
• 19:36
  What you will, what we've seen in the past and what I believe
• 19:40
  you will still continue to see into the future because I don't
• 19:43
  think we've ended. This hasn't ended.
• 19:45
  I think this is the beginning of this is I think states that
• 19:51
  don't have your best interest at heart are not going to be OK
• 19:56
  with that. They're not going to be OK with
• 19:59
  that. That's too much power for the
• 20:01
  individual. It's way too much power.
• 20:04
  So yeah, that's my, that's my bid on all this.
• 20:08
  Opti, I know I went on a little bit of a rant, bro, but I don't
• 20:11
  know what your favorite part from this report was, but that's
• 20:16
  the one that spoke. That's the part that spoke to me
• 20:18
  the most. Yeah, I actually saw that.
• 20:21
  I didn't see that exact page, but I did see something similar.
• 20:24
  It said, you know, the Digital asset working Group is going to
• 20:30
  push Congress to ensure that self custody is like respected.
• 20:35
  And the part that really stuck out to me, they said
• 20:37
  specifically that individuals can, you know, partake and quote
• 20:42
  lawful peer-to-peer transactions.
• 20:44
  And I found that super interesting when I saw that.
• 20:48
  I think there's a lot going on here.
• 20:50
  Again, at first it is maybe I, my first initial reaction was
• 20:54
  like the chud. Nothing ever happened to me.
• 20:56
  And you know, like we, we were expecting probably they them
• 21:00
  telling us that they're, they stacked a lot of Bitcoin that we
• 21:02
  could see how much Bitcoin they actually had.
• 21:05
  In reality, they kind of just laid out a framework like this
• 21:07
  entire report is there's like a intro where it kind of explains
• 21:12
  what Bitcoin is, what digital assets are, And then it goes
• 21:15
  into various different points. And it's just, it's pretty much
• 21:19
  like an outline. It's it's full of a bunch of
• 21:21
  recommendations for all the different, various institutions
• 21:24
  that are, you know, trying to have some claim into the Bitcoin
• 21:27
  space, or rather recommendations to all the various institutions
• 21:32
  that have some jurisdiction over Bitcoin currently.
• 21:35
  And then what they advise them to do, though, from like a
• 21:39
  Bitcoiners perspective, one of the parts that I did find the
• 21:41
  most interesting is they literally quoting Satoshi
• 21:44
  throughout the whole thing, which is actually kind of
• 21:45
  interesting. Like every new segment has a new
• 21:48
  Satoshi quote throughout it. And like the Bo Hines clip in
• 21:51
  the beginning, he is, you know, saying, hey, we respect the
• 21:54
  Bitcoiners, we love Bitcoin. We want to do do right by the
• 21:58
  the hardcore Bitcoiners as well. Of course, they're trying to lay
• 22:01
  a framework here so that everyone is kind of, you know,
• 22:04
  like a like a wholesale framework so that we kind of
• 22:07
  have some quote rules of the road here.
• 22:09
  And there were some segments that I just completely like
• 22:12
  overlooked because it's talking about like various digital
• 22:14
  assets and different institutions that are again,
• 22:17
  laying claim to Bitcoin and how they've been kind of currently
• 22:23
  making rules around Bitcoin. I was really looking in there to
• 22:26
  see if they really, you know, announced the strategic Bitcoin
• 22:30
  reserve, what they were kind of talking about via taxes.
• 22:33
  There was specifically kind of a a couple sentences in there
• 22:37
  about how Bitcoin will be treated in taxes and how they're
• 22:40
  going to recommend some change, potentially some de minimis tax,
• 22:44
  you know, exclusions in there. But there was something that was
• 22:48
  a little maybe more, I don't know if it's nefarious as the
• 22:52
  word, but they did mention like the Patriot Act and adding a 6th
• 22:55
  amendment to that, which, you know, as a Bitcoiner and further
• 22:59
  someone that like became an adult during 2001.
• 23:02
  That made me feel a little weird.
• 23:03
  But overall, I think it was a very comprehensive coverage of
• 23:06
  what's going on in the space. And really I think it's the
• 23:09
  impact that it's going to make on every other jurisdiction.
• 23:12
  It's like I haven't seen in any other country drop 100 66 page
• 23:16
  report about everything regarding the quote on quote
• 23:19
  crypto space. So I think it's a good first
• 23:21
  step. And when I hear Bo Hines talk
• 23:24
  about it, actually, will you pull up that one tweet?
• 23:25
  He's literally like Bitcoin bull posting here.
• 23:29
  He's he's straight up shit posted this morning, You know,
• 23:33
  dropping a meme of the genesis block with Donald Trump's tweet
• 23:37
  here or quote here. We saw Scott Besson basically
• 23:43
  full posting as well, you know, crypto welcome home.
• 23:46
  And he's still saying crypto. So I don't know, a lot of it is
• 23:50
  kind of making me feel and maybe that's the literally the signal
• 23:54
  that it's the vibes. You know, it's it's what's it
• 23:56
  vibe Capital Management here. So the vibes around it are very
• 24:00
  high now, as probably everyone is saying in the chat, like we
• 24:05
  want to see some implementation. But again, you know, governments
• 24:07
  work slowly as Bill Hines was kind of outlining.
• 24:10
  They put a lot of man hours into this.
• 24:12
  If this, I don't know if it was yeah, I think it was this video.
• 24:15
  If you guys watch this video on Twitter, you can hear David
• 24:18
  Sacks in it basically say, you know, we we've been going to
• 24:21
  meetings, like hundreds of meetings, thousands of hours to
• 24:23
  get this together. So they are putting in the work
• 24:26
  and let's just see what's get what gets implemented moving
• 24:30
  forward. And and hopefully soon as we
• 24:32
  heard, you know, maybe we will finally get some conclusion.
• 24:38
  Yeah, try it again, some some conclusion on what's going on
• 24:42
  with the strategic Bitcoin reserve.
• 24:43
  But it sounds like they're doing it.
• 24:44
  So as of now, we it's just a it's just a regulatory framework
• 24:48
  and outline, but it's pretty comprehensive.
• 24:51
  I don't know if you guys want to read.
• 24:52
  It's a little, I would say kind of boring, but you know, this is
• 24:56
  this is I think this was really more angled towards the
• 24:59
  regulations etcetera, versus like, you know, just bull
• 25:02
  posting and explaining what Bitcoin is and what they're
• 25:04
  going to do. So I'm guessing that's the next
• 25:06
  step. Yeah, I mean, this is a huge,
• 25:10
  you know, stamp of approval, ladies and gentlemen like Scott
• 25:15
  Besson published in the Washington Post, Jeff Bezos's
• 25:19
  media company, and Scott Besson's article.
• 25:24
  The headline is the road map to making America a crypto
• 25:27
  superpower. So, you know, let let's compare
• 25:32
  and contrast 'cause I think Bitcoiners live at it on an
• 25:35
  accelerated timeline, OK? A year ago, Opti and I were
• 25:42
  seriously considering leaving because the regulatory
• 25:46
  environment in the United States was extremely hostile.
• 25:50
  It was not fun. And we're going to talk a little
• 25:53
  bit about some of the leftovers of that environment.
• 25:56
  We have an update for you guys regarding the Samurai wallet
• 25:59
  case and look at what happened. A complete 180 right so we got
• 26:07
  so much heat when we started advocating for then candidate
• 26:15
  Trump and then candidate RFK because everyone was like
• 26:19
  Bitcoin isn't political then then you know this is bad like
• 26:23
  what are you doing? And we we were those types of
• 26:27
  people too for a for a long time and it was only until like the
• 26:32
  samurai wallet guys got arrested where you know there is a famous
• 26:37
  Opti gate right that Opti and I kind of threw our hat in the
• 26:41
  ring and we weren't the only ones right the Winklevi Bitcoin
• 26:48
  magazine. It kind of galvanized our
• 26:51
  industry to get into politics before we didn't care.
• 26:57
  I don't think anyone really cared.
• 26:58
  I remember I, I posted something last year and I had it saved to
• 27:01
  drafts for such a long time, but I was like, it's probably not a
• 27:07
  good idea to vote for Biden if you like Bitcoin.
• 27:11
  And the tweet just blew up. And when a tweet blows up, it
• 27:16
  means you struck A chord with a lot of people, right?
• 27:18
  It's the only reason tweets blow up.
• 27:21
  And I was thinking about, I was like, wow, so kind of everyone's
• 27:25
  kind of thinking about this, but everyone is looking at it from
• 27:28
  the traditional left, right, Republican, Democrat type of
• 27:32
  worldview. And me and Opti were looking at
• 27:35
  it from like, are you on the side of Bitcoin?
• 27:38
  Are you on the side of CBD CS? Because that's the only future
• 27:41
  ahead. Like there is no in between
• 27:44
  ground. OK.
• 27:45
  Like Bitcoin is a replacement of the central banking system.
• 27:50
  Like make no mistake, like the European Central Bank is
• 27:52
  admitting to this by now, right? They're, they're basically if we
• 27:55
  don't rule out the CBDC, like we're going to lose control.
• 27:58
  Like what do you mean control of what?
• 27:59
  I didn't even know you guys were controlling something in the 1st
• 28:01
  place, right? So and then you have to kind of
• 28:05
  get into the argument of like what has resulted in you
• 28:08
  controlling money in the 1st place.
• 28:09
  It's been horrific. Like the last 100 years of
• 28:11
  central banking have been disastrous.
• 28:13
  World War One, World War 2, the Great Depression, the Great
• 28:17
  Recession, it all happened under central banking.
• 28:19
  You can make a very solid argument that the world wars are
• 28:23
  funded by the money printers, right?
• 28:26
  So, and then not to mention, which is why I think our, our
• 28:30
  generation, specifically the millennials and the Gen.
• 28:33
  Z ers, I mean, the, the, the Alpha Gen. yeah, Gen.
• 28:38
  Z Ers and the Alpha generations. Like what happened in 2008 with
• 28:42
  the beginning of the QE experiment.
• 28:44
  Like I played you guys a clip of Charlie Kirk the other day of
• 28:47
  him basically saying, like, look, we see the country getting
• 28:51
  wealthier, but no one can afford anything if you're young.
• 28:55
  Like what is going on? Well, it's broken money, right?
• 29:00
  So yeah, I mean, it's a step in the right direction.
• 29:03
  I agree with Opti. I was hoping for more.
• 29:05
  I think it was a little bit of a tease, right?
• 29:07
  But at the end of the day. Nothing ever happened.
• 29:10
  At the end of the day, guys, I'll say this.
• 29:12
  Look, in DC, the way it works is if you're not in the room,
• 29:14
  you're not in deal. We're in the room now.
• 29:16
  That's number one. Number two, we're part of the
• 29:18
  donor class now, right in DC. So you think that this just gets
• 29:23
  released because, you know, Trump just likes Bitcoin?
• 29:28
  No, it's, we got him elected. That's what you guys have to
• 29:31
  understand. And then another thing that I'll
• 29:33
  leave with you guys is that the president of the United States
• 29:37
  currently has the 6th largest Bitcoin treasury company.
• 29:42
  So from here to the end of his term, which is 3 1/2 years from
• 29:47
  now, what do you think the price of Bitcoin is going to do?
• 29:50
  I'm going to leave that with you guys.
• 29:51
  Just use, after everything that I just read, you guys, the bull
• 29:55
  post from Bull Heinz, the bull post from Scott Besson, right?
• 30:00
  Trump got inaugurated with Bitcoin at 109.
• 30:03
  It's at 118. Seven months later.
• 30:06
  What do you think's going to happen?
• 30:08
  I'll leave that with you guys. It's not rocket science.
• 30:11
  Even A5 less than a 5X, we're at half, $1,000,000 per coin less
• 30:16
  than a 5X. So I'll leave that with you guys
• 30:18
  to kind of ruminate with. It's not rocket science.
• 30:22
  This thing's going to go to the moon, and I think it's all going
• 30:24
  to happen during Trump's last term, which is what we're what
• 30:29
  we're living through right now. Anyways, before we move on to
• 30:32
  the next segment, we have tons to talk about.
• 30:35
  We have clips, we have the samurai wallet stuff.
• 30:37
  Opti's got a culture special for you guys, like always.
• 30:41
  I do want to give a shout out to Simmons.
• 30:44
  We would not be possible, We would not be on air without our
• 30:47
  partners. Our partners are what supports
• 30:50
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  today. At the time of recording, the
• 33:42
  Bitcoin price is $118,280 Price high.
• 33:48
  I mean block high 907,978 sets per dollar, 845 sets per dollar
• 33:55
  Market cap 2.35 trillion Bitcoin versus gold market cap 10.04
• 33:59
  percent 10.05% declined from all time high -4%.
• 34:05
  We realized monetary inflation .84% of the grand scheme of
• 34:08
  things. We are just getting the party
• 34:11
  started. All right, so let's check out
• 34:15
  this clip. So it's really, really
• 34:17
  interesting. I always talk about this guy's
• 34:21
  the Overton window, Overton window, Overton window, right?
• 34:24
  So this is Jim Cramer, right? Usually when Jim Cramer says
• 34:29
  something, it's time to sell, but he's saying it's his words,
• 34:34
  not mine. Jim Cramer just said live on
• 34:38
  CNBC that Bitcoin is a hedge against the US turning into
• 34:42
  Weimar Germany. Wow.
• 34:45
  Let's check out the clip. It's I, I kind of just, I don't
• 34:48
  even believe it Some. Some.
• 34:50
  But Bitcoin? Well, Bitcoin, you can put it in
• 34:53
  the speculation basket, but at the same time, how many
• 34:56
  companies who are just going over these numbers have are
• 34:59
  raising money to buy Bitcoin? It's an.
• 35:03
  It's a normal. I was, in fact, a chance to do
• 35:04
  it. I said far more.
• 35:05
  Than has been raised by companies going public.
• 35:08
  It's because it's almost, it's almost encouraged.
• 35:10
  I mean the the the SEC chief is like.
• 35:15
  Yeah, Yeah. This is a very crypto positive
• 35:17
  administration, no doubt about that.
• 35:19
  That's been a real positive for all of the different.
• 35:21
  It's also a great hedge against the the.
• 35:24
  Which? Is what it is.
• 35:26
  Michael Saylor would say that right store of value.
• 35:28
  I I, I, I was with someone whose son took his paycheck and bought
• 35:33
  bought Bitcoin. I started a job, good job five
• 35:37
  years ago and now it doesn't really have to work.
• 35:40
  And he's totally hedge. The kids hedge fathers to work.
• 35:44
  I'm not kidding. The kids hedge.
• 35:46
  Look, I mean, this is happening. We won't want to talk about it.
• 35:49
  Or maybe we think it's fine Mark.
• 35:50
  Maybe it's fine. Mark 23.
• 35:52
  I mean, it's not often you create a new asset class and
• 35:55
  then write the regs around it in real time at the same time
• 35:59
  that's different and we we don't know what that's going to bring.
• 36:02
  Well, like the guys from Circle, I mean, I was, I said that maybe
• 36:05
  there's a possibility that JP Morgan or BlackRock could do a
• 36:09
  stable coin and you get the usual emails.
• 36:12
  She's like, you don't know what you're talking about.
• 36:13
  It's much bigger. I've gotten more I don't know
• 36:15
  what you're talking about emails since like there's like so many
• 36:17
  of these, like wait, because every time I know I don't know
• 36:20
  what I'm talking about. I know what I'm talking.
• 36:22
  So, I mean, you can't really say you're early now if Jim Cramer
• 36:29
  is saying, I mean, he's not 100% convinced because he's like, we
• 36:32
  might be in Weimar 23, you know, which is like alluding to
• 36:39
  horrible things happening in the future, right?
• 36:44
  So I mean, what do you think Opti?
• 36:47
  I think it's over for Bitcoin. Jim Cramer's embracing it.
• 36:52
  It's done, guys. Wrap it up.
• 36:54
  No more bull run. We had a good run.
• 36:57
  All this good news coming out of the administration is just going
• 37:01
  to get naked by the inverse. Kramer, we had a good run.
• 37:05
  We're going to get a, we're going to get Bitcoin on, on
• 37:06
  discount. No, I mean, look, I think anyone
• 37:10
  that has studied money, Fiat money in particular always goes
• 37:15
  back to that very historic example of Weimar Republic when
• 37:19
  they hyperinflated. And whether that's where we are
• 37:23
  right now or whether we have different tools today to kind of
• 37:26
  combat that hyperinflation or rather hide the hyperinflation,
• 37:31
  I think it's still kind of like on.
• 37:35
  It's still something to be seen though, what we are kind of
• 37:39
  seeing. And I wish we had this for the
• 37:42
  show today. I don't know what Nico has for
• 37:44
  the news. I'm going to be completely
• 37:45
  honest here, but we just saw this CBDC or sorry, the ECB come
• 37:51
  out and basically capitulate to the CBDC's, which if you're
• 37:55
  reading this through one perspective, it's basically
• 37:58
  saying they have lost control and they need more control.
• 38:01
  And the only reason I'm bringing that up in this context is there
• 38:05
  is a lot of speculation right now of whether the, you know,
• 38:08
  Jay Powell and Scott Beston have the economy under control or
• 38:12
  whether it's completely out of control.
• 38:14
  And they are just kind of covering it up with vibes and
• 38:17
  narratives. And if we are in this place
• 38:20
  right now where we are going to see our currency hyperinflate
• 38:24
  over the next whatever 10 years or so like that, there's going
• 38:27
  to be insane volatility in the dollar, which means it will be
• 38:30
  insane volatility in Bitcoin, which means this is the
• 38:33
  opportunity of a lifetime and you need to be saving in
• 38:36
  Bitcoin. But my point remains the same.
• 38:38
  Jim Cramer's embracing Bitcoin, it's over.
• 38:40
  We had a good run. We're going to get Bitcoin on
• 38:42
  discount. I think we're winning, bro.
• 38:46
  I think we're winning. This is, this is, I don't know,
• 38:49
  man. It, it, it's so weird.
• 38:51
  Like I, I have like Stockholm syndrome.
• 38:53
  We were getting attacked for like 7 years and then all of a
• 38:56
  sudden everyone and their mother is like friends with Bitcoin.
• 38:59
  No, but one interesting tidbit that I'll say is like, so like
• 39:05
  we all kind of go through this like vindication cycle as
• 39:07
  Bitcoiners where for the first two years, like all, everyone in
• 39:11
  your family kind of makes fun of you for like buying this and it
• 39:14
  goes down like 50%. You get wrecked and then like if
• 39:18
  you stick it through like like 3 or 4 years, like a full cycle,
• 39:21
  like you look like a genius, like you're just like Oh my God
• 39:24
  like this this dude like holy cow like.
• 39:26
  I'm the family genius. Like he, he's a genius.
• 39:28
  Like what do you mean? He bought Bitcoin?
• 39:31
  But everyone kind of goes through that now.
• 39:33
  What's really interesting is last cycle, so between 21 and
• 39:38
  25, it was Buchele and Sailor and went through that like
• 39:44
  vindication, right? Like they were both super down
• 39:47
  on their investment, like strategies stock like plummeted,
• 39:51
  Buchele stock plummeted. And then out of nowhere, Bom bom
• 39:56
  bom Bing bro, this thing just blew up.
• 39:58
  And you know, they look like geniuses, both of them.
• 40:01
  I think they are geniuses. So what I think is going to
• 40:05
  happen this cycle is the US government's going to go.
• 40:08
  Like, the Trump administration's going to go through the same,
• 40:11
  like, kind of vindication, pay your dues, you know, but they're
• 40:16
  just delaying this. It take them seven months to
• 40:19
  say, like, we still haven't bought anything yet.
• 40:22
  Like, the faster they pay their due.
• 40:24
  OK, I'll pass this to you, Opti. Does the US government buy the
• 40:28
  top? I hope so.
• 40:33
  When the announcement is finally made, is that the top?
• 40:36
  No, no, no, no. Well, when the announcement is
• 40:39
  finally made, maybe the top, but they're not going to be buying
• 40:42
  when they announce it. They're going to be buying
• 40:44
  before they announce it. So they're going to be packing
• 40:46
  their bags earlier. So whenever they announce it,
• 40:48
  maybe that is the top of the cycle.
• 40:50
  But if they're smart, they're probably going to have been
• 40:53
  accumulating the whole time. Like, again, listening to Bo
• 40:55
  Hines, it sounds like they're already starting to accumulate
• 40:59
  Bitcoin, so they're probably already.
• 41:01
  Buying. He was like kind of coy about
• 41:03
  it. And I think he's, I think
• 41:05
  they're buying. You think they're buying?
• 41:07
  I think they're. Buying.
• 41:08
  Man. Dude, you can't come out like
• 41:10
  just think it through. You can't come out this
• 41:12
  publicly. I'm men again.
• 41:14
  Look, I'm no politician. I don't know how federal law
• 41:16
  fully works here. I'm not sure if this is
• 41:19
  considered fraud or insider trading here, whatever the the
• 41:22
  full stipulations are here. But you can as a bitcoiner.
• 41:25
  You can't go out there and announce these huge buys.
• 41:28
  We're going to accumulate a million Bitcoin for what, nine
• 41:31
  months now? Six months at minimum.
• 41:34
  And you're not accumulating Bitcoin while you're doing that.
• 41:36
  Like bro, they have to be buying Bitcoin.
• 41:39
  They just have to be like, it just makes no sense to me.
• 41:43
  I mean, Bo Hines was super coy about it.
• 41:45
  So to me it seems like they are accumulating.
• 41:49
  Yeah. I mean, I don't think it is like
• 41:53
  again, I don't have any legal. I don't know.
• 41:56
  I don't know how that works. I don't.
• 41:57
  Know I don't have any legal advice here, but no, you're
• 41:59
  just, but you're signaling to the market what you're going to
• 42:02
  do so the market can front run you in a way like you're not.
• 42:06
  You don't want people to know like if you're buying at such
• 42:08
  quantities like I'll give you an example like, do you think?
• 42:12
  Points still remains the same when they finally announce how
• 42:14
  much they have they've already been buying so they're signaling
• 42:18
  what they're going to do that's the like hey so.
• 42:21
  You think they've? Already bought, dude.
• 42:22
  I think they got like, it's really the like Trump stuff.
• 42:25
  You know, you, you project and you Telegraph what you're going
• 42:28
  to do. And then when you finally
• 42:30
  announce it, you're like, see, I told.
• 42:31
  You the US government now it's 1,000,000 Bitcoin like oh man.
• 42:36
  Yeah. Look, this is it.
• 42:37
  The press release will be when they are done always is that's
• 42:41
  what's going on. And again, I don't know the
• 42:43
  legalities of this, but you know, hey, call me, call me a
• 42:48
  bad guy, but that's what I'd be doing if I was trying to buy a
• 42:50
  million coins. Taylor home in the chat.
• 42:53
  Nico Who's your favorite Heat player of all time?
• 42:55
  Dwyane Wade obviously bro and people are making fun of my to.
• 43:00
  Be two people completely clear here my hoodie to be 1 dude to
• 43:04
  be one No no to be 100% clear here.
• 43:07
  It is a tourist hoodie and he got it in the airport because he
• 43:10
  was. Cold.
• 43:11
  So you're right. I did, I did.
• 43:13
  I there's a heat store in the airport and I forgot my I forgot
• 43:16
  my hoodie at home and I, I, I was like, dude, this would be
• 43:20
  dope. It would look good on the show,
• 43:21
  but it's funny how people are making fun of it because it
• 43:23
  looks like a tourist hoodie. Anyways, if you guys are
• 43:27
  enjoying the show so far, smash that like button.
• 43:30
  We still have tons to cover. We're we're gonna have, we have
• 43:32
  an update for you guys regarding the samurai wallet case.
• 43:36
  Now I know what a lot of you guys are thinking.
• 43:39
  Nico, why should I give a flying F about all that?
• 43:42
  Like, look at what you just broke down.
• 43:45
  Opti's speculating the US government is stealthily buying.
• 43:48
  You're basically saying it's gonna hit half a million before
• 43:51
  the end of Trump's term. Like, you know, Trump owns like
• 43:55
  all this, you know, so he's incentivized for the price to
• 43:57
  pump. You know, they're telling you
• 43:59
  bitcoiners are going to be happy.
• 44:00
  Like they're telling you all these things.
• 44:03
  Why in the hell are you going to insert negativity into this
• 44:05
  conversation? Why are you going to turn like?
• 44:08
  Some real shit's happening. Why are you going to insert
• 44:11
  negativity into this bullish episode?
• 44:14
  Cause Nico's cold water on the chat.
• 44:17
  Sure, because we got to talk about what's happening to our
• 44:23
  boys from Samurai. Because at the end of the day,
• 44:26
  what happens is if they set a precedent, that is where there's
• 44:32
  a slippery slope, right? And that's what I'm watching out
• 44:36
  for. But breaking news, if you guys
• 44:38
  haven't been paying attention, this whole saga with the Samurai
• 44:42
  wallet developers that essentially they wrote open
• 44:46
  source software. I believe they collected a fee
• 44:48
  for some of the services they they provided, but essentially
• 44:53
  it allowed people to use Bitcoin and kind of this private way,
• 44:57
  right? Like that was the whole point of
• 44:58
  samurai. And last year, the Treasury
• 45:04
  Department started going after the developers of a lot of
• 45:08
  these, a lot of these, you know, a lot of these in a lot of these
• 45:15
  companies are, you know, places that offered these types of
• 45:17
  services. And that's why we've been paying
• 45:20
  attention to this, right? So we're gonna talk about it.
• 45:24
  We have an update. It's extremely important.
• 45:26
  You should be paying attention to you.
• 45:28
  Privacy should not be villainized.
• 45:32
  Your right to self custody should not be villainized.
• 45:35
  And your right to transact peer-to-peer should not be
• 45:37
  villainized. I guarantee you that after this
• 45:41
  is going to be the villainization of peer-to-peer
• 45:44
  in self custody. And the foreshadowing that you
• 45:47
  guys got, because you got a foreshadowing is the fact that
• 45:51
  the Trump administration felt like it had a necessity to
• 45:55
  emphasize the fact that Congress has to act on that, right?
• 46:00
  If they didn't feel like they had a necessity to say that,
• 46:03
  then they wouldn't have said it. So anyways, let's check out the
• 46:05
  news. We'll be right back.
• 46:08
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  get yourself a cold card. But first you got to go to
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  sat123.com/simply. It will allow you to get these
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  Faraday bag bags and this is where I put my hardware wallet.
• 48:52
  So that Opti you're giving an example about, what were you
• 48:56
  giving you that for? Yeah, sorry guys.
• 48:59
  When I traveled from Dallas, I had to go to Nevada, but at the
• 49:04
  same time I was moving down here to Florida and I didn't want to
• 49:08
  ship all of my like my hardware wallets with my luggage and some
• 49:13
  random freaking Home Depot storage box.
• 49:16
  And so I put all my hardware wallets in a Faraday bag because
• 49:20
  I wasn't sure if the X-ray machine would mess with my
• 49:24
  hardware wallet. So I just threw them in, put
• 49:26
  them in my bag. And literally the only thing
• 49:28
  they checked was these mic stands.
• 49:30
  This, this is the only thing they care about.
• 49:32
  They didn't even check the Faraday bag.
• 49:34
  So I don't know, you know, not a, not a live hack live tip
• 49:37
  there, but that's what I did and they still work.
• 49:40
  So I don't, I don't even know if the X-rays do affect them, but
• 49:44
  you know, I'm paranoid and so I had to make sure.
• 49:47
  So yeah, get yourself a Faraday bag at SAT 123.
• 49:51
  They also have satellite phones. And then of course, go to
• 49:53
  coldcard.com, use promo code, simply get 5% off anything on
• 49:59
  their store. So let's talk about news because
• 50:04
  it is big breaking, ultra mega breaking update on the Samurai
• 50:09
  case. I think Opti, you and I have
• 50:12
  been covering this for like a year, bro.
• 50:14
  It's almost as if we're journalists or something.
• 50:16
  It's kind of strange to say that.
• 50:18
  But yeah, Opti and I have been covering this story, this saga
• 50:22
  for a year. And it's crazy.
• 50:26
  And we saw it because I remember when the Tornado Cash stuff
• 50:29
  started happening, we we were telling you guys you're like,
• 50:32
  look like they're going after this obscure software that no
• 50:39
  one knows. And then when they set a
• 50:41
  precedent, they're going to go after something bigger.
• 50:44
  And that's exactly. What they did?
• 50:47
  So a lot of people were speculating that with the Trump
• 50:51
  administration, this case was going to be dropped, and it did
• 50:55
  get dropped by the Treasury. So the Treasury dropped the
• 50:58
  Tornado Cash case. But it seems like the DOJ is
• 51:02
  still kind of moving forward with a lot of these.
• 51:04
  And again, these are what I would say leftovers from the
• 51:07
  previous administration. So anyways, Samurai wallet
• 51:12
  developers plead guilty to conspiring to operate an
• 51:16
  unlicensed money transmitting business.
• 51:19
  OK that's not good news right? So like before they were
• 51:24
  essentially fighting it. Now here's like the TLDR for
• 51:29
  like, if you guys don't know about this, when you get charged
• 51:33
  by the federal government, they have like a 98% prosecution
• 51:37
  rate, right? So they don't like to move
• 51:41
  forward cases that they're not 100% sure they can prosecute.
• 51:45
  And when they do move a case forward and you want to fight
• 51:50
  it, the odds are not in your favor.
• 51:53
  So this signals to me and again it's I think it's too early to
• 51:58
  tell that they made some type of plea deal to reduce the
• 52:03
  sentence. And this signals to me that also
• 52:09
  their lawyers must have felt like they couldn't fight it.
• 52:13
  And I think there is some news coming out Opte that the judge
• 52:20
  and whatnot was not allowing some of the evidence to be
• 52:22
  heard, right. Yeah.
• 52:24
  So again, guys, I've been plugging Lola Elites the Rage
• 52:27
  for a minute. She's been doing incredible
• 52:29
  coverage in regards to this case as well as other privacy matters
• 52:33
  that come up on the Internet. And one of the things that I saw
• 52:36
  her say, I think it was last week or maybe it was the
• 52:38
  beginning. It might have been the beginning
• 52:40
  of this week, but the judge was essentially allowing like chain
• 52:45
  analytics on like the government side or what's it the prosecutor
• 52:49
  side, right? But when it came to the Samurai
• 52:53
  Wallach, you know, defense, they were throwing out that chain
• 52:56
  analytics for them and saying, oh, this, this has, you know,
• 52:59
  this is irrelevant to the case. And they're like, bro, like
• 53:02
  you're you're throwing out literal evidence that you're
• 53:04
  using on one side and the other side.
• 53:06
  And I think, you know, where the court is being held is probably
• 53:10
  the biggest signal of what's going on on here.
• 53:11
  Of course, it's in New York and they've never been friendly to
• 53:14
  Bitcoin. And yeah, so it doesn't seem
• 53:18
  like it's going well for the samurai wallet guys.
• 53:21
  And like Nika said, the fact that they're pleading guilty to,
• 53:24
  you know, operating an unlicensed money transmitting
• 53:27
  business, it seems like they're taking a deal.
• 53:29
  But I don't know if this article says it, Nika, maybe we can get
• 53:33
  into it a little more. But I'm guessing they're taking
• 53:36
  this deal here and pleading guilty to this because the other
• 53:42
  charges that I believe that they were being charged with were a
• 53:46
  lot worse. So I, I don't even know if I can
• 53:49
  say them here on YouTube without triggering these algos, but you
• 53:54
  know, they, they start with the letter T.
• 53:57
  So you guys can, you know, start, start looking into that
• 54:00
  and, and illicit finance and stuff like that.
• 54:02
  So I think those charges were way worse.
• 54:05
  So that's probably why they're taking this lesser plea deal
• 54:08
  here. But I'm I'm guessing this
• 54:10
  article is going to get into it a lot more.
• 54:12
  Yeah, so, so shout out to Frank Korva and Bitcoin Magazine for
• 54:17
  this great coverage. So the headline is Samurai
• 54:20
  Wallet developers plead guilty to conspiring to operate an
• 54:24
  unlicensed money transmitting business.
• 54:26
  Today the founders of Samurai Wallet pled guilty to the second
• 54:30
  charge in their indictment, conspiracy to operate an
• 54:33
  unlicensed money transmitting business, despite previously
• 54:36
  pled not guilty to the charge and back.
• 54:39
  And I'll give you kind of the TLT, the TLDR guy.
• 54:42
  So if you plead not guilty and you're found guilty, the judge
• 54:47
  will normally make the sentence way worse.
• 54:51
  If you plead guilty to whatever they're charging you with, the
• 54:55
  judge will normally give you a, a, a, a lesser sentence, right.
• 55:00
  So there's like, kind of like a, like a strategy to it.
• 55:04
  So anyways, in back-to-back hearings in the Southern
• 55:06
  District of New York, which I think is like notorious for
• 55:10
  like, you know, kind of like trial.
• 55:11
  They've been attacking Bitcoin and and Bitcoin adjacent
• 55:14
  companies for a long time. New York is like not a favorable
• 55:18
  place for any Bitcoin stuff at all.
• 55:20
  Yeah. So the two founders admitted to
• 55:22
  playing a role in the transportation or transmission
• 55:25
  of funds derived from criminal offenses by operating Samurai
• 55:29
  Wallet, even after knowing that illicitly obtained funds were
• 55:33
  being moved through the mixing service now.
• 55:36
  OK. The reason I have a problem
• 55:43
  against this personally, and again, this is my opinion,
• 55:46
  right, is what that says is essentially like they wrote
• 55:52
  software and some people were using that software for illicit
• 55:58
  purposes. Like they weren't conducting
• 56:05
  illicit activity. Someone that was using their
• 56:07
  software was basically conducting illegal activity.
• 56:12
  And they're kind of, you know, holding them responsible for
• 56:17
  that. Now I'm going to go back to part
• 56:23
  of the report that was released by the White House, and This is
• 56:26
  why they put it in the report. Congress.
• 56:29
  Congress should codify principles regarding how control
• 56:32
  over an asset impacts BSA obligations, particularly for
• 56:36
  money transmitters through legislation such as the
• 56:40
  Blockchain Regulatory Certainty Act, which has been incorporated
• 56:43
  into Clarity. Specifically, such legislation
• 56:47
  could codify that a software provider that does not maintain
• 56:52
  total independent control over value is not engaged in money
• 56:57
  transmission for of the BSA. Right.
• 57:03
  So like you can see right, because like I, I don't think
• 57:07
  the samurai guys had access right to everyone.
• 57:11
  Like like I don't know how it. Works.
• 57:13
  Yeah, that's by default. Right.
• 57:14
  Like I don't think they had access to this.
• 57:15
  So like people were using their services.
• 57:17
  They didn't get to choose who was using their services.
• 57:20
  But essentially, like they're being held responsible for
• 57:24
  people using their services. That's like blaming like car
• 57:29
  manufacturers. That's like blaming the Fed for
• 57:32
  people using dollars to smuggle illicit activities.
• 57:37
  Like I'm just trying to. And again, like the reason we're
• 57:40
  covering this is because it sets a precedent specifically for
• 57:44
  open source software, right? Like that's the dangerous part.
• 57:49
  You want to know why Satoshi disappeared?
• 57:51
  This is why Satoshi disappeared off the face of the planet.
• 57:54
  This is literally why. So anyways, for their guilty
• 57:58
  pleas, both Rodriguez and Hill will face a maximum prison
• 58:02
  sentence of five years, a maximum supervised release
• 58:06
  period of three years, 250,000 dollar, 250 K, $1000 fines each,
• 58:13
  and $100 special assessment fee each.
• 58:16
  Rodriguez and Hill are also required to pay a total of 6.3
• 58:21
  million between them to satisfy the total amount of assets they
• 58:25
  agreed to forfeit to the court, $237,000,000.
• 58:30
  The two founders are required to produce the approximately 6.3
• 58:34
  million by the sentencing date of November 7th through November
• 58:39
  30th, 2025 in both Rodriguez and Hill's.
• 58:43
  What does that say? Allocutions.
• 58:47
  Thank you allocutions, I'm learning so much with fancy
• 58:50
  vocabulary today. They shared that from 2015 until
• 58:54
  2024, they operated Samurai together, noting that the
• 58:59
  service enabled users to transfer Bitcoin from their own
• 59:02
  wallets to another Bitcoin address.
• 59:04
  While Samurai obscured the transaction process, they both
• 59:09
  highlighted that in the process of running Samurai, they came to
• 59:13
  know that some of the Bitcoin moving through the service was
• 59:16
  derived from criminal activity, and they kept marketing and
• 59:20
  operating the service anyway. And Rodriguez's hearing, Judge
• 59:24
  Coat noted a tweet from the Samurai Wallet Twitter account
• 59:29
  that read Welcome New Russian Oligarch Samurai Wallet users.
• 59:34
  I mean. Damn shit post wrecked.
• 59:37
  Yeah, I mean, it kind of confirms the government's case,
• 59:41
  right? And in Hills hearing, the judge
• 59:44
  noted another tweet from the Samurai Wallet developer Twitter
• 59:48
  account that read Europol also highlighted Samurai Wallet as an
• 59:52
  emerging top threat. The judge seemingly pointed out
• 59:56
  these Tweets in an effort to illustrate that not only did the
• 1:00:00
  Samurai Wallet wallet developers know that criminal actors were
• 1:00:03
  using the service, but that they seem to take pride in it.
• 1:00:09
  Judge Coates stated that she was willing to continue with
• 1:00:12
  existing bail conditions for Rodriguez, which included his
• 1:00:16
  remaining under house arrest, having Internet access, and not
• 1:00:20
  being permitted to use cryptocurrency.
• 1:00:22
  The judge altered bail conditions for Hill through
• 1:00:26
  stipulating that he can no longer remain under house arrest
• 1:00:29
  in Portugal and that he would have to do so in the Southeast
• 1:00:33
  District of New York. Andrew Chan, the member of the
• 1:00:36
  prosecution presented for both hearings, brought up the fact
• 1:00:39
  that Hill was being monitored by a private monitoring service in
• 1:00:42
  Portugal and requested that he now be monitored by pretrial
• 1:00:46
  services. Judge Coat approved this
• 1:00:49
  request. Sentencing is scheduled to take
• 1:00:52
  place on November 7th, 2025, while the defense and
• 1:00:55
  prosecution are are expected to have all required submissions in
• 1:00:59
  by October 25th, 2025 and October 31st, 2025 respectively.
• 1:01:05
  OK, now let's kind of do like a analysis, right of all this,
• 1:01:09
  right? So I believe there was a couple,
• 1:01:13
  there was Wasabi and there was samurai Wasabi.
• 1:01:18
  The Wasabi guys never got charged.
• 1:01:21
  Why so? And this was very unpopular with
• 1:01:24
  the Bitcoin community, but the Wasabi guys basically started
• 1:01:31
  blacklisting, I believe, right? Like they weren't accepting
• 1:01:34
  transactions from certain Bitcoin addresses to kind of
• 1:01:39
  avoid all of this. The samurai guys were, you know,
• 1:01:45
  as the tweets have shown, a lot more hardcore, a little bit more
• 1:01:49
  hardcore. But as the tweets have shown, it
• 1:01:52
  plays into the argument that the government is making that they
• 1:01:56
  were aware that there was, because that's the key.
• 1:02:01
  Like if they didn't post those things, it'd be hard to prove it
• 1:02:04
  right? Because like, for better, for
• 1:02:06
  worse guys like you have to understand this.
• 1:02:08
  Like at that time, by law, those guys had sanctions on them.
• 1:02:15
  Like the Russians had sanctions on them, right?
• 1:02:18
  So we have this kind of like mentality in Bitcoin where it's
• 1:02:21
  like, look like, you know, Bitcoin is uncensorable.
• 1:02:27
  You know, it's peer-to-peer, but you can still put a human being
• 1:02:32
  in a box, bro, Right. So, yeah, I mean, I think it,
• 1:02:40
  you know, it's hard to argue against that, man, because it
• 1:02:43
  really proves the point that the government is trying to make,
• 1:02:47
  right. And again, I'm no legal expert
• 1:02:49
  here. I'm just like some someone who's
• 1:02:51
  covered this story for about a year and just mere observations
• 1:02:55
  just you get, yeah, I think you get decent at something if you
• 1:02:59
  do it everyday for five years. But yeah, man, I mean, like, I'm
• 1:03:05
  let's just share the screen, dude, like.
• 1:03:08
  Yeah, we don't put that back. Out, it kind of sucks.
• 1:03:11
  Don't put that back. Out It kind of sucks, but like,
• 1:03:14
  can't really argue against that, right?
• 1:03:17
  I mean, look, one of the things I've kind of been going down the
• 1:03:21
  rabbit hole recently is kind of optics around all of us
• 1:03:24
  Bitcoiners. And you know, I think we can all
• 1:03:27
  acknowledge that's just like not really good optics.
• 1:03:29
  I, I get being super hardcore and I still, I'm still hoping
• 1:03:33
  for the best. And this might be the best case
• 1:03:35
  scenario considering that they really were throwing the book at
• 1:03:38
  them. Like there, there was some
• 1:03:39
  incredibly wild charges that they were getting charged with.
• 1:03:43
  So this might be the best case scenario that we could hope for.
• 1:03:47
  And since Nico and I aren't lawyers here, you know, we just
• 1:03:51
  been covering this. We're just what, quote, citizen
• 1:03:54
  journalist. I think these are better takes
• 1:03:56
  here. This is Jake Shervinsky.
• 1:03:59
  Yeah. Yeah.
• 1:04:00
  Let me zoom in. There's actually 2 that he
• 1:04:02
  tweeted. Of course he's a lawyer, as he
• 1:04:05
  says. I'm not.
• 1:04:05
  I'm a lawyer. I'm not your lawyer.
• 1:04:08
  Where else is he? Whatever, he's a lawyer.
• 1:04:11
  He does stuff in the space with great takes of course on this
• 1:04:16
  this tweet, this charge, or rather that they are pleading
• 1:04:18
  guilty, he goes. I never judge a defendant who
• 1:04:21
  decides to take a plea. Even if they didn't do the
• 1:04:23
  crime, it's their liberty at risk.
• 1:04:24
  I assume the DOJ saw how terribly bad the storm trial
• 1:04:28
  went for them and offered a sweetheart deal to save face.
• 1:04:31
  Still a sad and chilling day for software developers.
• 1:04:34
  And then going forward, it's good for the samurai devs that
• 1:04:37
  they got a deal from the DOJ to plead guilty, but tough to see
• 1:04:40
  DOJ get away with the false accusation that devs of non
• 1:04:44
  custodial software are engaged in money transmission.
• 1:04:47
  Section 1960 is a grave threat to Dell developer freedom.
• 1:04:51
  It must be amended. So, you know, I'll defer to
• 1:04:54
  someone that is much more familiar with this than me.
• 1:04:57
  I mean, but they're basically confirming what we've been.
• 1:04:59
  Saying 100% yeah though, though just a charge in itself is
• 1:05:02
  interesting. Like everyone's saying in the
• 1:05:04
  chat, it's like, OK, like it's Bitcoin money or is it not?
• 1:05:07
  We need a money transmitter license to deal with the
• 1:05:11
  software and yet we're still not even kind of considered money.
• 1:05:16
  It's obviously doublespeak 2 face hypocrisy at its best.
• 1:05:20
  It's money when it's convenient. For them, of course.
• 1:05:22
  Of course. Now on that same page, another,
• 1:05:27
  the other case that is happening right now, it's literally in
• 1:05:31
  deliberation as we speak currently.
• 1:05:34
  Oh, let me pull this up. The Tornado Cash case, they are
• 1:05:37
  literally they're, they're the jury's deliberating on this,
• 1:05:42
  right? Like literally as we speak, they
• 1:05:44
  said an hour ago they should get an answer, AKA the US verse
• 1:05:48
  storm case, which is a Tornado Cash stuff.
• 1:05:51
  We we don't know what's gonna what's gonna happen here.
• 1:05:54
  It seems like they they're currently deliberating.
• 1:05:56
  They've asked for more evidence. So two big things happening
• 1:06:00
  basically on the same day. So I think Jake take it might be
• 1:06:05
  the the signal here. You know, maybe they saw how bad
• 1:06:08
  this case was handled. If they get off, you know, or
• 1:06:12
  rather a Roman storm gets off here.
• 1:06:15
  I, you know, we might have one good precedent being set, maybe
• 1:06:20
  that's hopeful for what happened with the Samurai wallet guys,
• 1:06:22
  considering they got a couple of months to kind of handle this.
• 1:06:25
  And to be completely clear, guys, they are being handled in
• 1:06:28
  the same core in SDNY or yeah, and I think it's the same judge
• 1:06:33
  if I'm not mistaken. So there's still may be some
• 1:06:37
  hope here. But I think, you know, as Jake
• 1:06:41
  was saying like that this is probably the best deal they're
• 1:06:44
  going to get, Well, you know, we we still kind of have to hold
• 1:06:48
  our breath. It's not looking good.
• 1:06:51
  Yeah, I mean, like I said, like if you go to, if you risk going
• 1:06:57
  to jury, like you have the the, the opportunity to be
• 1:07:02
  vindicated, right And like not be proven guilty and then you're
• 1:07:05
  Scott free. But if you are proven guilty,
• 1:07:08
  the judge is usually a little bit more harsh with sentencing.
• 1:07:11
  So when you see these types of like they took a deal, right,
• 1:07:14
  which is what I was saying in the beginning, right?
• 1:07:17
  They basically said we're guilty to a lower charge.
• 1:07:21
  And then the government's going to take into the, the judge is
• 1:07:24
  going to take that into account when he sentences them.
• 1:07:26
  Do I think they'll serve? And again, I'm not a judge or
• 1:07:29
  I'm not a lawyer or any of that, just mere observer.
• 1:07:32
  Do I think they'll serve the full three years?
• 1:07:35
  No, I don't think so. I think they'll get less than
• 1:07:38
  that, but my point remains the same.
• 1:07:43
  They're trying to make an example.
• 1:07:45
  This is like, you know, the reason Ross got, you know.
• 1:07:48
  And again, I'm not going to get into the legality of what he was
• 1:07:52
  doing and what not, but like the reason I could say this as an
• 1:07:57
  opinion, this is safe to say as an opinion.
• 1:08:02
  Do I think it's fair that he got three life sentences?
• 1:08:05
  No, that was not fair at all, right?
• 1:08:08
  That was not unfair. That wasn't cool whatsoever.
• 1:08:12
  But they were trying to make an example out of Ross and that
• 1:08:16
  wasn't cool, right? And I think they're trying to do
• 1:08:18
  the same thing here, right? So you know, I'm, I'm working
• 1:08:23
  under constraints because but yeah, it's it's unfortunate,
• 1:08:29
  man. It's unfortunate to say the
• 1:08:31
  least. But we'll stay on top of it.
• 1:08:33
  We'll give you guys an update on the Tornado Cash case tomorrow.
• 1:08:36
  We'll give you guys an update on the Tornado, on the Tornado Cash
• 1:08:39
  and the Samurai case as it develops.
• 1:08:42
  But this is something as a Bitcoiner you should be paying
• 1:08:45
  attention to because again, it's setting a very, very dangerous
• 1:08:49
  precedent. And then it's deincentivizes
• 1:08:52
  software development and it also anonymizes software development,
• 1:08:57
  right? You know, a fundamentally code
• 1:09:00
  is speech, right? Code is a form of speech.
• 1:09:03
  Like you can't convince me that data like numbers or whatever on
• 1:09:08
  a keyboard is somehow dangerous. Like you can't convince me of
• 1:09:10
  that. So anyhow, guys, we're going to
• 1:09:16
  hit the culture segment. Opti's got a special culture
• 1:09:19
  lined up for you guys. It's.
• 1:09:20
  Kind of more doomy a little bit, I'm not going to lie.
• 1:09:23
  Anyways, just keep it going. Keep it.
• 1:09:24
  Going we're going to be right back with the doomy culture
• 1:09:27
  segment in just a second. I want to give a shout out to
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  Taking my screen off All right guys I.
• 1:11:34
  Wasn't on in the 1st place. I put it full on and then I was
• 1:11:37
  like, I feel bad because I made it full on.
• 1:11:39
  No no no, he's lying. All right guys, I saw this
• 1:11:43
  thread and you know me, I love anything that firms my own bias
• 1:11:47
  here, but I found this thread super interesting.
• 1:11:50
  So this guy, Felix Pren, apparently an ex bankster, maybe
• 1:11:56
  maybe that's, you know, yeah, maybe maybe that's his authority
• 1:12:01
  here. So he, you know, basically he's
• 1:12:04
  framing it like I'm been on the inside, but there is some
• 1:12:06
  bankster. Bankster.
• 1:12:08
  Yeah. What did I say?
• 1:12:09
  I mean, it sounds notorious. It sounds.
• 1:12:10
  Bankster not AI mean a bank. Totally a gangster.
• 1:12:14
  We're talking about the same thing.
• 1:12:16
  It's like. That's an opinion.
• 1:12:18
  Synonym, Sure, it's my opinion, not simply bitcoins anyways.
• 1:12:23
  Anyways, anyways, let's get through this thread because
• 1:12:28
  really like I like this thread guys.
• 1:12:31
  I really do like the thread, but it's funny at the end he does
• 1:12:35
  the basically like join my paid group stuff and you know he's
• 1:12:40
  totally missing the mark in regards to Bitcoin, which is
• 1:12:42
  probably because he used to work at a bank.
• 1:12:44
  But anyways, it goes Bank of America just dropped a massive
• 1:12:47
  warning. We're in a bubble
• 1:12:48
  biggerthanthe.com crash. I repeat, a bubble
• 1:12:51
  biggerthanthe.com crash. And he's got data to back this
• 1:12:55
  up. So 38% of the S&P 500 is
• 1:12:58
  concentrated in just ten companies. the PE ratios hit 27X
• 1:13:02
  versus 25X in 2000. So we are two times bigger or 2X
• 1:13:08
  more than in 2000. So from 25 to 27 X and he goes,
• 1:13:14
  here's a full picture. And of course, and he literally
• 1:13:17
  doesn't really give you much advice, but we're giving you the
• 1:13:20
  advice here because you just need to buy Bitcoin.
• 1:13:23
  But I'm going to explain the problem anyways.
• 1:13:24
  First. So let's look at the
• 1:13:25
  concentration problem. Bank of America's charge.
• 1:13:29
  Bank of America's chart, He can't even smell.
• 1:13:32
  Chart shows something alarming. 38% of the entire S&P 500 is
• 1:13:36
  concentrated in the top ten companies.
• 1:13:39
  In 2000 it was Microsoft, Intel and Oracle.
• 1:13:41
  In 2020, Microsoft and Apple. Now it's just a few names again.
• 1:13:46
  You can see market cap dominance here.
• 1:13:49
  It's you know, it's going, it's going pretty high.
• 1:13:52
  Top 10 weights in the S&P 500 last week hit 37.3% of the index
• 1:13:56
  near the 38% level it reached in January, which has been its
• 1:13:59
  highest level on record, according to S&P Dow Jones
• 1:14:02
  indexes, citing data since 1975. And I don't know if you guys
• 1:14:06
  been watching the Main Street, but you know, S&P 500, I think
• 1:14:10
  it was like broke 11 record highs this year alone is just
• 1:14:14
  constantly hitting the all time high.
• 1:14:16
  And everyone that's like the Wall Street guy, S&P 500, all
• 1:14:20
  the boomers out there are just super hyped.
• 1:14:22
  They're like, man, we're making so much money.
• 1:14:24
  This is great. And everyone on our side's like,
• 1:14:27
  Nah, I think, I think there's a bigger problem in the system
• 1:14:31
  anyways. And he goes, think you're
• 1:14:33
  diversified by buying the index. You're not.
• 1:14:35
  You're basically buying the top ten companies and a bunch of
• 1:14:37
  underperforming stuff underneath.
• 1:14:39
  That's the reality of today's market concentration.
• 1:14:42
  And here's another way to see the bubble forward PE ratios.
• 1:14:45
  That's today's price divided by the next year's expected
• 1:14:48
  profits. In the 2000 bubble, top
• 1:14:51
  companies traded at 25 times earning.
• 1:14:53
  Right now, we're at 27 times earning.
• 1:14:56
  We're actually more expensive than in the.com peak.
• 1:15:00
  I don't know. It sounds like a bubble to me.
• 1:15:02
  So should you panic and sell everything?
• 1:15:04
  And then, you know, he's like, I'm not trying to be doom and
• 1:15:06
  gloom and look around at previous rallies.
• 1:15:09
  It can go higher. You know, when when markets get
• 1:15:12
  irrational, it could go higher for what's the saying?
• 1:15:14
  You know, it could be irrational longer than you can be solvent.
• 1:15:18
  This is kind of what he's saying.
• 1:15:19
  We can still go up higher from here, but he's kind of just
• 1:15:23
  saying on the writing on the wall, it's we're, we're in the
• 1:15:26
  midst of a bubble here and everything bubble, as I think
• 1:15:29
  Larry Leopard used to say, you know, it's done in the past, it
• 1:15:33
  can do it again. And the data is backing this up.
• 1:15:35
  It could continue on for days, if not months.
• 1:15:38
  And he says this is where he really goes off the the rules
• 1:15:41
  here, you know, so where are the real opportunities hiding?
• 1:15:44
  There's actually a list of the most heavily shorted stocks that
• 1:15:46
  can squeeze next. They are the powder kegs waiting
• 1:15:49
  to explode. Look, you don't have to DM him,
• 1:15:51
  retweet and comment the rules and he'll give you his trading
• 1:15:54
  group, etcetera, etcetera. You don't have to buy more
• 1:15:58
  companies that are literally a part of the system.
• 1:16:01
  He's literally talking about diversifying into indexes, but
• 1:16:04
  then he's going to tell you to diversify into, you know, the
• 1:16:06
  companies that are really going to make it.
• 1:16:09
  Guys just buy Bitcoin. But I think this, this, this
• 1:16:13
  data here coming from Bank of America is very interesting,
• 1:16:16
  kind of showing, hey, we are probably in the everything
• 1:16:19
  bubble and not to be a full doom and gloomer.
• 1:16:21
  I know Larry Lepard's been saying this for a while.
• 1:16:23
  Max Keiser's been saying this for a while.
• 1:16:26
  Like we are in the midst of the everything bubble.
• 1:16:29
  And they'll a lot of people out there like your normie friends
• 1:16:31
  and family think they're getting richer because of their houses
• 1:16:35
  or their S&P 500 stonks. You know, indexes are going up.
• 1:16:40
  It's it's the currency that's getting naked right now, guys.
• 1:16:43
  And even even though the Trump administration's doing a lot of
• 1:16:47
  things to kind of maintain dollar dominance, why, why
• 1:16:50
  continuing playing the same games?
• 1:16:52
  Just buy some Bitcoin, Bitcoin and chill.
• 1:16:54
  You know, start a start a Bitcoin podcast or something.
• 1:17:01
  Go hang out with your bitcoiners, eat some steaks.
• 1:17:04
  But yeah, yeah, it's. Way to way to kill the buzzkill.
• 1:17:10
  Well, you know, sometimes I got to be the the cold water, not
• 1:17:14
  just you. Yeah.
• 1:17:20
  I mean, yeah, you think it's true.
• 1:17:25
  Yeah, I mean, well, I'm also biased.
• 1:17:28
  So we're going into a bear market, bro.
• 1:17:30
  A Rick is a. Bear market, dude, I I don't
• 1:17:32
  know, I don't know. As he said, it could go higher,
• 1:17:34
  longer and really like the idea here.
• 1:17:37
  Does he have a paid group? It sounds.
• 1:17:39
  Like it sounds like, he said. To get me and I'll.
• 1:17:43
  Give you the stock picks. I think we can still go higher
• 1:17:49
  longer. And again, like I was going to
• 1:17:51
  say, it really kind of boils down to the trust in the system.
• 1:17:55
  If people fundamentally lose trust in the system quickly,
• 1:17:58
  they have to find a home. You know, they have to find
• 1:18:02
  somewhere to store their capital.
• 1:18:03
  And obviously you want to be the first one out of the door, but
• 1:18:06
  from what I see, for most people, they're just, they're
• 1:18:11
  just playing musical chairs within the system and they're
• 1:18:13
  going to get absolutely wrecked. So you're saying bear market?
• 1:18:18
  I think I'm going more on like a Great Depression number.
• 1:18:22
  Two dude. Wow.
• 1:18:24
  OK. Oh, then we've already been in a
• 1:18:29
  recession for the last year or two, right?
• 1:18:32
  Man, I mean, Trump's going to get wrecked, bro.
• 1:18:35
  Well, that was the plan for bitcoins gonna get wrecked.
• 1:18:37
  Now, actually, actually, you know, being a little more
• 1:18:39
  favorable, you know, being a, what do you call it, a Niko tard
• 1:18:43
  here, a MAGA tard here. I think what's really going to
• 1:18:47
  play out is the US dollar being the strongest one will probably
• 1:18:51
  be able to scathe as much pain as possible, but the EU is going
• 1:18:55
  to get absolutely devastated. Every other currency is going to
• 1:18:58
  get wrecked. I think I'm, I'm starting to
• 1:19:01
  lean into just how much of A genius Scott Besson is.
• 1:19:06
  Remember, he was part of George Soros Foundation or one of his
• 1:19:09
  companies. So he knows how to destroy other
• 1:19:12
  currencies. And I'm I'm kind of backing him
• 1:19:14
  to maintain our dominance. But that's cuz I'm an American.
• 1:19:19
  I don't wanna see my family get wrecked.
• 1:19:21
  But I've been telling them to buy Bitcoin.
• 1:19:23
  So again, not to the full doom porn here doom be fear
• 1:19:28
  mongering. Just buy Bitcoin saving Bitcoin
• 1:19:32
  Continue to save in Bitcoin. But hey, this might be some
• 1:19:35
  information you want to share to your your friends and family.
• 1:19:38
  Again, way to kill the. Buzz bro someone in the chat.
• 1:19:40
  The Magician depression will bring BTC down 90.
• 1:19:43
  Percent. Hey, we get a 90% discount.
• 1:19:45
  Let's go. People are quoting you Nico.
• 1:19:48
  Nico as a it's. True, Ron, It's so true.
• 1:19:53
  Right, bro? At least I, I voted for Ross's
• 1:19:56
  freedom, man. At least I could say that.
• 1:19:58
  That's not my conscious bro, so you know.
• 1:20:01
  Anyways, lady, lady, says Nico, you're so patient with this
• 1:20:05
  dude. God bless you.
• 1:20:06
  I I. Am patient.
• 1:20:08
  With him, I appreciate it. You know, some people don't see
• 1:20:11
  it, you know, I like to give myself credit, but I appreciate
• 1:20:15
  you, lady. Lady, dude, the chat's turning
• 1:20:19
  against you, bro. You know what?
• 1:20:21
  Let's end the show. All right, ladies and gentlemen,
• 1:20:25
  if you guys enjoyed today's show for July 31st, 2025, you know
• 1:20:30
  what to do. Smash that like button.
• 1:20:30
  Consider subscribing if you feel like we provided you value and
• 1:20:35
  guys, we're going to see you tomorrow for a brand new episode
• 1:20:38
  of Simply Bitcoin Live. Me and Opti are going to finish
• 1:20:40
  off the week strong and hopefully we'll have an update
• 1:20:43
  for you guys. I'm going.
• 1:20:44
  To finish the week strong. Hopefully, no, I'll be there
• 1:20:51
  soon and hopefully we have an update for you guys regarding
• 1:20:54
  these two cases that, again, are incredibly, incredibly
• 1:20:57
  important. Love you guys.
• 1:20:59
  Go outside, get some sun, touch some grass, enjoy your family,
• 1:21:02
  eat some good food, and we'll see you guys tomorrow for a
• 1:21:05
  brand new episode of SB Live. Today's episode was brought to
• 1:21:10
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:21:13
  mission to enable financial independence.