Latest / Simply Bitcoin / Can Bitcoin Go To $1 Million by 2029!? [EXPLAINED] | EP 1208

Transcript

Can Bitcoin Go To $1 Million by 2029!? [EXPLAINED] | EP 1208 · Simply Bitcoin

• 0:00
  $1 million Bitcoin has become the new long term target for
• 0:04
  bitcoiners and many people are just saying man can we just
• 0:07
  secure 100K first. But what if we told you it's not
• 0:11
  as crazy as it sounds. With all the recent positive
• 0:14
  developments surrounding Bitcoin like the most successful ETF
• 0:17
  launch ever, banks approved to custody in Bitcoin nation state,
• 0:21
  talking about buying Bitcoin and the regulatory hurdles falling
• 0:25
  by the wayside, it's hard to see how bitcoins best days are over.
• 0:29
  But it's not just US at Simply Bitcoin who think the price is
• 0:32
  still going to make aggressive moves upwards.
• 0:35
  One of the oldest and largest Bitcoin funds is now bull,
• 0:38
  posting about 10X price gains by 2029.
• 0:42
  You heard me correctly, 10X price gains by 2029.
• 0:46
  So let's watch the clip and then let's discuss the science or the
• 0:50
  math behind this. My favorite view of the value of
• 0:54
  Bitcoin on a long term basis is to look at the size of the
• 0:57
  market it's going after. I think Bitcoin is well on its
• 1:00
  way to disrupting gold. That's a $20 trillion market.
• 1:03
  I think it's going to be used for international transaction
• 1:06
  and cross-border transactions. That's another many trillion
• 1:10
  dollar market and then you can divide that by the number of
• 1:13
  Bitcoin and you end up with a target about it.
• 1:15
  Bitwise, we think it's going to cross $1,000,000 by 2029.
• 1:19
  I think from a shorter term perspective you can just look
• 1:22
  at. Supply and demand in the market,
• 1:24
  right? The big criticism of Bitcoin is
• 1:26
  the prices set by supply and demand, but that's also a real
• 1:30
  benefit when you're in a market like today where again we're
• 1:33
  producing 160,000. Bitcoin a year and ETFs are
• 1:37
  buying 500,000 right? Something has to give and I
• 1:40
  think what gives is price resistance and ultimately it
• 1:43
  goes higher. I think every pension fund
• 1:46
  should be allocated to Bitcoin. When I was a reporter, I covered
• 1:49
  just how so many of these pension funds are essentially
• 1:52
  underwater. It's so, so, so sad.
• 1:54
  But I heard actually, and I'm, I'm curious if you could tell me
• 1:57
  if this is true, that let's say there's a pension fund
• 2:00
  interested in allocating to Bitcoin.
• 2:03
  They actually have to go out and meet with a consultant for the
• 2:06
  consultant to do due diligence on Bitcoin and that could take
• 2:09
  months and months. And if the consultant says no,
• 2:12
  you shouldn't invest in it, then they just pass on it.
• 2:15
  Is that true? Are there are there gatekeepers?
• 2:17
  It's mostly true, yeah. So I mean, the institutional,
• 2:20
  the deep institutional investor market is a market with tier
• 2:24
  after tier after tier because those people want their jobs.
• 2:28
  And if it goes wrong, they want someone to point at and say it
• 2:31
  was their fault. That said, we've been working
• 2:33
  with a number of consultants for a significant number of years,
• 2:37
  and many of them are already allocating.
• 2:39
  That's why you're starting to see this bubble up through the
• 2:42
  end. I'll add one more thought from
• 2:44
  an institutional perspective because I think people overlook
• 2:47
  it. Crypto's a three.
• 2:48
  Trillion dollar market right now.
• 2:51
  If you have a 0. Percent allocation to crypto,
• 2:53
  you're effectively short, right? When we talk about people
• 2:56
  allocating one or two percent to Bitcoin, that's just to get to
• 2:59
  neutral. And I think institutions are
• 3:02
  starting to recognize that once you accept it as part of this
• 3:05
  pie, you need to have at least a little bit or you're making an
• 3:08
  active bet against it. And they're not comfortable
• 3:11
  doing that either. So I think, I think you're going
• 3:13
  to see. This one 2% thing.
• 3:18
  Incredible, incredible. And I know you guys have been
• 3:21
  yelling at me about no memes. I know it's Friday, but I am
• 3:24
  kind of starting with the meme here.
• 3:25
  We have Pierre Rouchard here and then I'm going to, you know, go
• 3:27
  in through some of the some of the data we're looking at over
• 3:30
  here at simply Bitcoin. Pierre Rouchard goes we went
• 3:32
  from quote Bitcoin will never win.
• 3:34
  It's going to fail to a Bitcoin is winning too much so it's
• 3:37
  going to fail. The vibe shift is real.
• 3:40
  Hyper bitcoinization is real. The information asymmetry is
• 3:43
  compounded by logic asymmetry. We are so early and and this
• 3:48
  tweet here is a screenshot of a basically saying what you know,
• 3:51
  you're hearing a lot of the critics say about Bitcoin.
• 3:53
  It's like, I thought it was the separation of money in state and
• 3:56
  now Bitcoiners are cheering on nation States and institutional
• 3:59
  assets or managers coming into Bitcoin.
• 4:02
  Like which one is it bro? And it's like, hey, Bitcoin is
• 4:05
  just winning so hard. People have to shift their
• 4:07
  narratives. Anyways, the next thing we saw
• 4:09
  this morning, and this just came out this early this morning, we
• 4:12
  have Bohind, of course, the White House digital asset
• 4:15
  director and he's going in and talking about all the different
• 4:19
  waves that they are thinking about buying Bitcoin.
• 4:22
  Of course, we've heard the meme of budget neutral ways to buy
• 4:26
  Bitcoin. Well, this clip here I, I don't
• 4:29
  think I'm going to play it. I can play it after he's saying
• 4:31
  that maybe, you know, we rewrite our gold holdings, we mark them
• 4:35
  up or potentially selling the gold to buy Bitcoin.
• 4:39
  Obviously, we're starting to hear that the digital gold meme
• 4:42
  is really catching on. People really love this digital
• 4:44
  gold meme right now. And hey, if they're going to
• 4:47
  sell analog gold for digital gold, I don't know, it seems
• 4:50
  like we are entering a new paradigm now.
• 4:52
  We also been bringing this up a lot on the show.
• 4:55
  You know, we had the Bitwise CEO right now say essentially, you
• 4:58
  know, the crypto market is $3 trillion.
• 5:00
  The Bitcoin market, it's hovering a little under 2
• 5:03
  trillion. But if you look at the global
• 5:05
  assets around the world, we put this chart on this show many
• 5:08
  times to try to beat this idea into your head that look,
• 5:11
  Bitcoin is tiny in the grand scheme of things.
• 5:14
  In the global wealth of where Bitcoin is, it's tiny.
• 5:18
  Of course, the numbers that are kind of thrown around is $900
• 5:21
  trillion Bitcoins at $2 trillion.
• 5:24
  This is a little old because gold's roughly around I think
• 5:26
  like 19.6 trillion right now. So even if Bitcoin just gets to
• 5:32
  gold's market cap roughly around $20 trillion, that's a 10X from
• 5:36
  here just passing gold. And I'm going to play you a clip
• 5:39
  for Sailor after this in the numbers where he was at the
• 5:43
  Digital Asset Summit yesterday. And, and he got so bullish on
• 5:47
  Bitcoin that I was trolling on Twitter that 200 X is still in
• 5:51
  play. So some of these numbers start
• 5:53
  to get incredible when you realize just how much demand
• 5:56
  there is going into Bitcoin. And of course, it's hard capped
• 6:00
  at 21 million. And the last chart I want to
• 6:02
  bring up here, we brought this up, but River's done really good
• 6:06
  analysis here. And they've been saying that it
• 6:08
  seems like Bitcoin is only at around 3% of adoption globally.
• 6:13
  So I've been telling you guys this constant recently on the
• 6:16
  show. If you talk to an average
• 6:17
  person, they don't understand Bitcoin.
• 6:20
  And even if you do talk to people that have Bitcoin
• 6:23
  exposure, I think a small portion of them even understand
• 6:26
  what Bitcoin is. So for everyone out there that's
• 6:29
  saying, oh, you know, you guys are just hopium dealers, You
• 6:32
  guys are bull posting too much. I just think you don't
• 6:36
  understand what digital scarcity means in a world that can
• 6:40
  literally print infinite money. And we're starting to see that
• 6:43
  there's a paradigm shift going on right now.
• 6:45
  People are starting to take Bitcoin seriously.
• 6:48
  And so I know we are all kind of beaten down by the Bitcoin
• 6:51
  price. And there's a lot of Bitcoiners
• 6:53
  that are like, oh, the price doesn't matter, You know, the,
• 6:56
  the number go up, freedom go up. Aspects of Bitcoin are the most
• 6:59
  important. The fundamentals of Bitcoin are
• 7:00
  the most important aspect of Bitcoin.
• 7:02
  And I totally agree. But the adoption levels of
• 7:06
  Bitcoin are definitely run by how high the price goes up,
• 7:10
  number goes up, brings more adoption and of course with more
• 7:14
  adoption brings the utility of Bitcoin up, which as we like to
• 7:17
  say will bring freedom go up around the world.
• 7:20
  So I think right now is the best time to be buying Bitcoin as
• 7:24
  we've been seeing and covering around the world right now, the
• 7:28
  the risk level around Bitcoin is the least it's ever been.
• 7:32
  This is the least risky time to buy Bitcoin.
• 7:34
  So I still find it amazing that people are out there being
• 7:36
  skeptical. People are out there being super
• 7:39
  bearish around Bitcoin. It's like, I don't know what
• 7:41
  you're seeing, but I'm starting to see that the adoption levels
• 7:44
  around Bitcoin are going to go into OverDrive.
• 7:47
  Everyone wants your Bitcoin. We're seeing Bitcoin or so we're
• 7:51
  seeing the bank starting to get that FOMO like I want to custody
• 7:54
  your Bitcoin. We're seeing, you know, Trump
• 7:56
  talk about, hey, we're trying to buy as much Bitcoin as possible.
• 8:00
  We're seeing even Russia starting to kind of play the
• 8:02
  game too and be like, hey, you know, if you're a Russian
• 8:05
  citizen and you have some, some some wealth, we want you using
• 8:09
  Bitcoin. So the global game theory is
• 8:10
  playing out. I think it's not too crazy to
• 8:14
  say that we are going to see an incredible price movement from
• 8:18
  from here on until 2029. That's one more cycle from now.
• 8:21
  Obviously we're still early in this year.
• 8:24
  I think we still have a lot of room to run by the end of 2025.
• 8:28
  And of course it's Friday, so we got to give you a little hopium
• 8:31
  for the weekend. We all know you guys love the
• 8:33
  hopium here, but really in in reality, as far as I'm
• 8:36
  concerned, I think the game in Bitcoin is still so early.
• 8:40
  I really don't get people that say, oh, you know, Bitcoin is
• 8:43
  over. I know we've been seeing a lot
• 8:45
  of talk about diminishing returns.
• 8:47
  We were even kind of trolling on Tuesday.
• 8:49
  I think Nico where we're like, man, maybe maybe the cycle
• 8:53
  theory is breaking, but I think everything's lining up perfectly
• 8:58
  around Bitcoin as far as I'm concerned.
• 8:59
  Anyways, guys, I read it too much.
• 9:01
  Of course, I got Nico in the Coho seat.
• 9:03
  And then we have David X who is from represent.
• 9:06
  He's the guy that made our dope merch.
• 9:08
  He's a bitcoiner. If you guys haven't seen the
• 9:10
  show, he's been on the show for a long time long time friend.
• 9:13
  And we're gonna be talking about what it means to be a Bitcoin
• 9:16
  entrepreneur and maybe some special events in Vegas anyways,
• 9:20
  Nico, what's your thoughts on this man?
• 9:23
  Are we just like getting caught up in the opium here or are are
• 9:28
  do you think 10X by 2029 is realistic?
• 9:30
  Listen, I mean this this whole week, like the general consensus
• 9:34
  was from we played you guys videos from BlackRock, we played
• 9:38
  you guys videos from like CEOs of, you know, these asset
• 9:42
  managers and the general consensus is Bitcoin should be
• 9:44
  way higher right now. Like if you unpack, you know,
• 9:48
  the news coming out of the White House, essentially this current
• 9:51
  administration is giving a rubber stamp of approval for,
• 9:55
  you know, Bitcoin companies to essentially develop without fear
• 9:58
  of government persecution. Breaking news, by the way, the
• 10:02
  Tornado Cash, the the tornado Cash sanctions and the reason
• 10:07
  that's so important is Tornado Cash is open source software.
• 10:10
  Those sanctions got lifted, right?
• 10:12
  That news broke today. That's that's a huge win.
• 10:15
  So it's all pointing to a a very positive regulatory environment
• 10:21
  for for Bitcoin and Bitcoin entrepreneurs here in the United
• 10:24
  States, the announcement of the strategic Bitcoin reserve.
• 10:27
  And I think what everyone is feeling, including Sailor, like
• 10:30
  we played you guys a clip is like everything is all bullish.
• 10:34
  Like we're getting the bullish news of a bull run without a
• 10:39
  bull run in terms of the price action.
• 10:42
  So I think a lot of us are kind of feeling like a little bit,
• 10:46
  you know, a little bit like, you know, a little bit unpatient,
• 10:51
  right? You're like, you're, you're,
• 10:52
  you're thinking about 2021, you're thinking about 2017.
• 10:55
  You're like, you know what, what, what is happening here?
• 10:59
  And I think that I think the bull run hasn't even started
• 11:02
  yet. And I think that if you pay
• 11:04
  attention to the fundamentals of Bitcoin, when Bitcoin peaked, I
• 11:08
  think it was like $109,000. It wasn't a strategic Bitcoin
• 11:14
  reserve, right? You didn't have all this amazing
• 11:17
  news coming out right. None of that was true when it
• 11:19
  was at 109,000. So it was kind of like
• 11:22
  speculative when it was at that price point.
• 11:25
  The foundations have just gotten stronger.
• 11:27
  The hash rate continues to go up.
• 11:29
  So I think Bitcoin is going to perform amazingly.
• 11:32
  But right now I think it's if exactly it's Senor Gringo Papi's
• 11:36
  like boring Bull Run. That's I think a lot of us are
• 11:39
  feeling that way. And that's been the general
• 11:41
  theme essentially for, you know, this week of simply Bitcoin,
• 11:45
  like our episodes. It's just been, yeah, it has
• 11:48
  been quite boring. Like it that's the reality.
• 11:50
  It's been a little bit boring. But that's not to say that
• 11:55
  things can't change on a whim. And I think, you know, if you
• 11:58
  again, pay attention to the fundamentals, pay attention to
• 12:02
  who's saying what, I think, you know, we are, yeah, exactly.
• 12:07
  Digital Bobby's, you know, bringing up disbelief.
• 12:09
  If you guys look at the CHEAT SHEET of Wall Street, disbelief
• 12:12
  is like one of the things, right?
• 12:13
  You, you don't believe that, you know, it's, it's 'cause you've
• 12:16
  been so pounded to the ground emotionally by the UPS and the
• 12:20
  downs that you just don't believe that good things could
• 12:22
  happen anymore. So I think we're in a holding
• 12:25
  pattern. I think my, my personal opinion,
• 12:28
  I think Bitcoin is definitely gonna perform extremely well.
• 12:34
  It's only 5 years to the end of the decade.
• 12:37
  I, I wouldn't be exactly. Thanks Opti.
• 12:39
  I wouldn't be surprised if you know, we saw between half a
• 12:44
  million to $1,000,000 Bitcoin by 2025.
• 12:47
  I, I still think, of course, I still think Bitcoin has 100X in
• 12:50
  it. I, I believe in, in Hal Finney's
• 12:53
  prediction of, of $10 million Bitcoin.
• 12:56
  I just don't know how long it's going to take.
• 12:58
  But look, it's Infinity divided by 21 million.
• 13:02
  As long as they continue to print money, Bitcoin is going to
• 13:05
  go up and to the right forever. Like that's an undeniable fact.
• 13:09
  But I think people just have to listen.
• 13:11
  It's a very large asset. You know, the, the market cap is
• 13:15
  massive. So, you know, for Bitcoin to to
• 13:18
  move the way that it's moved in the past, like it requires a lot
• 13:23
  more capital going into it, right?
• 13:25
  So I would say just keep your eye on the prize.
• 13:28
  Nothing has changed. The fundamentals haven't
• 13:30
  changed. Take Bitcoin into self custody,
• 13:33
  lock away the key, you know, and live your life.
• 13:37
  Just build value and you know good things will happen to you.
• 13:42
  Stay humble stacks that anyways, we have a very special guest
• 13:45
  joining us on the show today. Long time friend of the show and
• 13:49
  supporter of the show. We got David joining us
• 13:52
  represent for anyone who doesn't know this awesome merch that
• 13:57
  we're wearing right now. David is the genius behind it.
• 14:00
  The high quality, the attention to details, the back where it
• 14:05
  says Bitcoiners slavery, simply Bitcoin.
• 14:07
  This is the man, this is the genius behind it, David from
• 14:12
  represent. So David, thank you so much for
• 14:13
  joining us today, man. Listen, you got you got you got
• 14:18
  a business, you're a Bitcoiner. But if you're a Bitcoiner, you
• 14:23
  know, even if you're not, I mean, I would say you are a
• 14:26
  Bitcoin businessman for sure 'cause you're a Bitcoiner
• 14:29
  through and through. But how do you feel?
• 14:32
  How do you feel about this current bull run?
• 14:34
  Is it meeting expectations? Is it going below expectations?
• 14:38
  I mean, you hear all the news that Opti's posting, all these
• 14:42
  CEOs of these massive companies are saying like, listen, this
• 14:45
  thing's going to tell like this is 750 K.
• 14:48
  Like it's obvious. You know, you have Bo Hines, the
• 14:51
  guy who's responsible for the strategic Bitcoin reserve.
• 14:56
  He's, you know, he's saying like, look like the United
• 14:59
  States has every intention of, of acquiring Bitcoin.
• 15:02
  Like that's not a rumour anymore, but the price hasn't
• 15:06
  gone up. So I think it's, I think, you
• 15:08
  know, it's like a beach ball. If you hold a beach ball
• 15:10
  underwater, the longer you hold it and the deeper you go, the
• 15:14
  the bigger the boom when it finally surfaces.
• 15:17
  So, David, welcome to the show. Thanks for having me and 1st off
• 15:21
  going back to the the merch, I'll take credit for the
• 15:23
  printing and and making sure you guys got the good quality
• 15:26
  hoodies and and hats and and T-shirts.
• 15:29
  But the design was all you guys, Isaac killed it.
• 15:32
  I'm not sure if he's the one that designed it or not, but the
• 15:35
  design is really, really good. The attention to like the
• 15:37
  different orange that you guys use was, was, was really
• 15:39
  beautiful. But yeah, it's, it came out
• 15:42
  good. Going to your to your point on
• 15:44
  the on the bull run one, I think it's obviously, as we know, as
• 15:47
  we've talked about in the past, it's inevitable.
• 15:50
  You know, it's going to happen also too, with like, you know,
• 15:53
  the United States kind of, you know, signalling that they're
• 15:55
  going to, you know, create an SPR and stuff like that.
• 15:59
  For me, I'm kind of on the, you know, F the government type of
• 16:01
  thing. I don't want them to to acquire
• 16:03
  it because I wanted to want that for us and the people.
• 16:05
  But at the same time, Bitcoin is for your enemies, right?
• 16:08
  So whoever wants to adopt it is going to adopt it and, and we'll
• 16:11
  see where it goes. And one, one point that I saw
• 16:14
  that opt you brought up on those on those infographics was that
• 16:17
  3% adoption worldwide. I think that's high.
• 16:20
  I think that it's less than that.
• 16:22
  And I think we're going to see it, you know, kind of kind of
• 16:24
  cruise up and even right now the price suppression right now just
• 16:27
  pretty, I don't know, you know, I don't know why it isn't going
• 16:29
  up. You know, everybody's signaling
• 16:31
  that they're buying, but for some reason they're just not.
• 16:33
  So I think we're seeing a lot of stuff from like last year the
• 16:36
  economy was pretty rough. I saw it in the business.
• 16:39
  And this year things are starting to turn, and we'll see
• 16:41
  where it goes from here. 100%, yeah.
• 16:44
  And do you and let me let me ask you about that David.
• 16:47
  So, you know, again, you know, a new administration that that
• 16:53
  creates a lot of uncertainty in the markets.
• 16:55
  You know, obviously the rates are still high, you know,
• 16:59
  becomes it's a lot more expensive for, for people or
• 17:02
  businesses to borrow money. What's your take, man?
• 17:06
  Because, you know, I think, I think a lot of people are, are
• 17:09
  feeling this, this malice or this uncertainty with this new
• 17:12
  administration. But if you take a look at what
• 17:15
  this new administration doing, I mean that you would think it's,
• 17:17
  it's bullish for businesses. It's it's good for businesses,
• 17:20
  it's good for individuals. So what's your take, just the
• 17:24
  general like trend on the economy based on your own
• 17:27
  business? So right now we're seeing a big
• 17:29
  uptick this year, 2025 has been outstanding.
• 17:34
  It's like almost like 2022-2023 days where it's like we're
• 17:38
  selling really, really well, but who knows where it goes.
• 17:43
  I've been seeing a lot of prognosis from my, my, my
• 17:45
  business partner has another business and they sell to like
• 17:48
  Home Depot and Wayfair and House and all the big ones.
• 17:52
  And we were getting prognosis in December that there's going to
• 17:56
  be a big recession in Q3Q4. So right now on my end, I'm
• 18:00
  still bracing for that. But I'm obviously very hopeful
• 18:02
  that, you know, things will keep on going the way it's been going
• 18:05
  for the last few months here and we'll see where it goes.
• 18:07
  It's going to be interesting, that's for sure.
• 18:10
  Yeah, absolutely, 100%. Yeah, someone in someone in the
• 18:13
  chat said kind of what David was saying.
• 18:16
  He said, Dang, I can't find it, but it basically like money is
• 18:21
  tight right now, like people are broke.
• 18:23
  That's probably why the price isn't going up.
• 18:25
  And I wasn't going to cover this today, but maybe we chat about
• 18:28
  it now because there was some some bigger news going on.
• 18:31
  But I was asking Nico and David earlier and I don't know if the
• 18:34
  chat you guys saw this, but it looks like DoorDash is doing
• 18:37
  like buy now pay. They're literally like they're
• 18:41
  breaking up payments on DoorDash right now.
• 18:43
  If that's not like a sign of the times of how people are with
• 18:46
  their money right now, I really don't know what it is.
• 18:49
  Like, you literally have to break down, you know, your $13
• 18:52
  Chipotle burrito and pay in installments.
• 18:54
  Like maybe people are extremely broke right now in the Fiat
• 18:58
  world because the money is broken.
• 18:59
  They haven't shifted over to a new money.
• 19:01
  And, you know, times are tight for a lot of people.
• 19:04
  But as Bitcoiners were sitting here and we're like, man, when's
• 19:07
  this Bitcoin thing going to start running?
• 19:08
  Because like, what's going on here?
• 19:11
  They can't hold this price down for that much longer.
• 19:13
  But This is why we always say it's our mission to go out there
• 19:17
  and try to get more people to understand what's going on in
• 19:20
  the world, why they need to understand Bitcoin, why they
• 19:22
  need to start saving in Bitcoin. Because if you're not on a
• 19:24
  Bitcoin standard, a personal Bitcoin standard, like life is
• 19:27
  probably pretty rough for you right now.
• 19:29
  So you need to start stacking stats guys.
• 19:32
  This is this is fundamentals to survival in this the 2020 era.
• 19:36
  This is this very simple stuff here.
• 19:39
  Anyways Nico, let's move on cuz we got a, we got a jam packed
• 19:42
  show like I told you guys. Before we jump into it, I do
• 19:45
  want to give a shout out to the live stream 1258 live viewers
• 19:51
  and 60 of you guys watching live on rumble.
• 19:53
  If you guys are enjoying the show so far, make sure to smash
• 19:56
  that like button. Help us break 100 likes within
• 19:59
  the 1st 30 minutes of the show. So the 350 of you guys watching
• 20:03
  live on YouTube smash that like button really, really helps with
• 20:08
  the algos. Before we get on to the numbers
• 20:11
  segment, I do want to give a shout out to simply.
• 20:13
  Bitcoin's lead sponsor by far the best place to build your
• 20:17
  automatic self custody Bitcoin stack bitcoinwell.com to get to
• 20:23
  go to bitcoinwell.com/simply Buy real Bitcoin Enable your
• 20:27
  independence with the fastest and safest way to buy Bitcoin on
• 20:30
  chain or via the Lightning Network in Canada, in the.
• 20:32
  In the USA, you put in your e-mail address.
• 20:35
  It takes 2 to 5 minutes to get signed up.
• 20:37
  What makes Bitcoin well special and unique and why we endorse it
• 20:41
  here at Simply Bitcoin is that it's a completely non custodial
• 20:44
  platform. So when you buy Bitcoin on
• 20:46
  Bitcoin well, as soon as the funds clear, it goes straight to
• 20:49
  yourself custody Bitcoin wallet address.
• 20:51
  They don't even allow you to leave your Bitcoin on the
• 20:54
  exchange. If you're a higher net worth
• 20:56
  individual looking to buy $50,000 worth of Bitcoin or
• 20:59
  more, check out Bitcoin Well Infinite.
• 21:02
  It enables large Bitcoin investments personalized for you
• 21:06
  and your business. Benefit from a self custody
• 21:09
  Bitcoin OTC experience to maximize your independence.
• 21:13
  To book a call, go to bitcoinwell.com/OTC.
• 21:18
  Tell them simply Bitcoin sent you and they'll take care of
• 21:21
  you. And if you live in the United
• 21:23
  States, they've had this feature in Canada for a long time.
• 21:26
  You can now get paid in Bitcoin sent directly to your personal
• 21:30
  Bitcoin wallet address. The way that it works is that
• 21:32
  you share your Bitcoin well, direct deposit details with your
• 21:35
  employer, set your Bitcoin slash dollar split, and receive SAT's
• 21:40
  instead of Fiat with every paycheck.
• 21:42
  If you use the promo code Simply BTC to sign up to
• 21:47
  bitcoinwell.com today, you have an opportunity to win up to
• 21:50
  1,000,000 Satoshi's just for signing up because you get 3
• 21:54
  tosses into the Bitcoin wishing well.
• 21:58
  Guys, what are you waiting for? Head over to bitcoinwell.com
• 22:01
  today. All right, everybody, let's hit
• 22:03
  the numbers. I want to tell you guys about
• 22:13
  our sponsor stamp seed. Is your Bitcoin and cold storage
• 22:17
  really secure? Are your seed words really
• 22:21
  secure? Stamp Seeds Do it yourself kit
• 22:24
  has everything you'll need to hammer your seed words into
• 22:28
  commercial grade titanium plates instead of writing them down on
• 22:33
  paper. Don't do that.
• 22:35
  Paper sucks. You want to literally stamp your
• 22:38
  seed into this plate of titanium.
• 22:41
  Your words are actually stamped into the metal plate with this
• 22:45
  hammer. So once your words are in, they
• 22:48
  aren't going anywhere. No risk of the plate breaking
• 22:51
  apart and your pieces falling everywhere.
• 22:54
  Titanium stamp seeds will survive nearly triple the heat
• 22:57
  produced by a house fire. They are also crush proof,
• 23:01
  waterproof, non corrosive and most importantly, because this
• 23:05
  is generational wealth time proof, all things that paper is
• 23:10
  not allowing you to huddle your Bitcoin for the long haul.
• 23:15
  I mean, here is the plate that they crushed, they put in water,
• 23:20
  they put a blowtorch to it. And as you can see, the words
• 23:23
  have survived. Stamp your seed on stamp seed
• 23:27
  and you can use promo code simply to get 15% off anything
• 23:32
  on their store. Head over to stampse-ed.com
• 23:34
  today. All right, everybody, If you use
• 23:41
  promo code Simply, you got 15% off anything on the Stamp
• 23:44
  se-ed.com website. Don't store your seed phrase on
• 23:49
  paper. Don't do that.
• 23:51
  Write them or stamp them into freaking titanium Stamp
• 23:55
  se-ed.com today. Promo code Simply OPTI.
• 23:58
  Let's go all right guys so of course we're over here on Clark
• 24:00
  when he's dashboard. The current Bitcoin price is
• 24:03
  84,000 and $70.00. The SAT's per dollar AKA how
• 24:07
  much Bitcoin you can buy for a single dollar AKA how much a
• 24:10
  dollar is worth in Bitcoin is currently at 1190 SAT's per
• 24:13
  dollar. The current block height is
• 24:16
  888,786 and the market cap in Fiat terms is currently at 1.67
• 24:22
  trillion. The Bitcoin versus gold market
• 24:25
  cap so much room to run in the hard money game is at 7.76% and
• 24:30
  the total percentage of Bitcoin that will ever be issued is
• 24:33
  currently at 94.47%. Roughly 19.83 million Bitcoin in
• 24:38
  circulation. You might want to get some
• 24:40
  because the last million or so, it's going to be a next 100
• 24:45
  years till that gets popped out for everyone and circulated
• 24:48
  anyways to realize monetary inflation is currently at .91%.
• 24:52
  Dang Nico, it feels like it just keeps going down.
• 24:55
  Like like every day it's going lower and lower.
• 24:58
  It's incredible that people still don't understand that
• 25:00
  Bitcoin is the best money, perfect money.
• 25:02
  And that's the perfect segue here guys.
• 25:05
  Yesterday, I highly recommend you watch this whole speech by
• 25:08
  Sailor. He made me super bullish.
• 25:11
  I haven't really watched like a full Sailor speech in a while,
• 25:13
  but this one was really good. And while I was watching it, I
• 25:17
  kind of had this idea that I think Sailor is tailoring his
• 25:22
  message to a whole new audience. And there's some things I agree
• 25:25
  with, some things I disagree with and, and I'll talk about
• 25:27
  that afterwards. But as I said, I saw this and
• 25:32
  there was a portion, it's on this clip where Sailor is
• 25:34
  basically saying, you know, bitcoins going to go to $200
• 25:37
  trillion market cap in his lifetime.
• 25:40
  And I'm just trolling. I'm like 200 X still in play.
• 25:43
  I'm sure people thought I was saying 200K still in play.
• 25:45
  No, you heard me right, 200X still in play.
• 25:49
  But here's the first part of this.
• 25:50
  And I think this is some signal here that most people aren't
• 25:53
  understanding just the fundamental difference between
• 25:55
  Bitcoin and everything else. And This is why I think Sailor
• 25:59
  is getting even more bullish on everything he's doing.
• 26:02
  You know, he's super casual now he's wearing these glasses.
• 26:05
  He's looking like Neo in the Matrix, just like pumping
• 26:08
  Bitcoin to a whole new audience. Obviously, you got to remember
• 26:11
  who the audience is now. He's talking to politicians, the
• 26:15
  biggest institutional asset managers in the world.
• 26:17
  It's not just us plebs on the Internet.
• 26:19
  You know, us everyday bit corners.
• 26:21
  He's talking to the guys with the money and he's showing
• 26:24
  Bitcoin in a way where if you don't get bullish after this 30
• 26:28
  minutes of presentation by Saylor, I don't know what you're
• 26:31
  doing out there, but let's just watch a clip of this and then
• 26:34
  we'll discuss it. I can tell you that I think the
• 26:38
  price of Bitcoin will go to 13,000,000 / 20 years.
• 26:42
  I couldn't say that about a security right?
• 26:45
  You have you have, you have legal immunity to actually
• 26:51
  express your opinion about a commodity that makes commodities
• 26:57
  politically superior, legally superior, ethically superior,
• 27:02
  financially superior to a non commodity to a security.
• 27:06
  And it's not just a little bit better, it's 100 times better,
• 27:10
  right? And so Bitcoin is a commodity.
• 27:15
  Bitcoin is actually the commodity.
• 27:18
  I studied commodities in, in, in my early professional years.
• 27:24
  Every other commodity can be created with technology, with
• 27:28
  capital, with know how. If you were going to take your
• 27:31
  family's life savings and buy a commodity to hold for 100 years
• 27:36
  and you thought about it, would you buy soybeans or corn or oil
• 27:39
  or natural gas or lumber, coal, silver?
• 27:45
  Well, no, they're all awful. And you know why they're awful?
• 27:48
  Because it's pretty obvious to you that 100 years ago it was
• 27:51
  harder to make those things than it is today.
• 27:53
  And if the price of oil goes to $1000 a barrel, we're going to
• 27:57
  frack it, triple frack it, hyper frack it, and we'll drive the
• 28:00
  price of oil down. Same with gold.
• 28:04
  There's been hyperinflation and gold multiple times.
• 28:07
  You know, the California 49ers found gold.
• 28:10
  We created so much. Gold that we crashed the economy
• 28:13
  of Europe. Every other commodity is, is,
• 28:17
  is. Going to actually explode and
• 28:20
  supply with technology and with price.
• 28:23
  That makes them all garbage investments.
• 28:26
  For a long term investor, they're in fact the worst
• 28:29
  possible investments is a long term store of value.
• 28:33
  The king of them. Gold still underperforms the S&P
• 28:36
  index by a factor of two or more.
• 28:40
  So there's only one commodity in the history of the human race
• 28:43
  that wasn't a garbage investment.
• 28:46
  The one commodity is Bitcoin. Yeah, sailors out there at this
• 28:54
  Digital Asset Summit literally just saying, yeah, gold's
• 28:57
  garbage. If you are investing in gold,
• 28:59
  what are you doing? And I look, I love this bull
• 29:03
  posting version of sailor. And we started this clip with
• 29:06
  like in, in in comparison to this one.
• 29:08
  We started this clip with like a very, you know, kind of small
• 29:12
  price prediction. Yeah, subdued conservative price
• 29:15
  prediction. But hold on, hold on, hold on.
• 29:17
  Like backtrack for a SEC. I mean, $13 million Bitcoin in
• 29:22
  20 years is, I don't think that's like.
• 29:26
  That's his bear case, right? That's.
• 29:29
  Like no, no, no. That's his.
• 29:30
  That's his base. His bull is 49, his bear is 3.
• 29:35
  Million, OK, OK. All right.
• 29:36
  But his his base case is 13, his bear is 3, and his bull is $49
• 29:43
  million per coin, which is just fucking insanity.
• 29:46
  Excuse my language, but OK, so, but I, I did want to focus on
• 29:51
  the, the commodity aspect because I think that's really
• 29:53
  fascinating. And I think this is something
• 29:56
  that that he has a really good way of explaining it.
• 30:00
  Bitcoin is unique because of its physical characteristics and
• 30:04
  because of its absolute scarcity.
• 30:06
  And what he was essentially saying is like gold is scarce
• 30:11
  without a doubt, but gold isn't absolutely scarce.
• 30:15
  So you can find gold right in the ground.
• 30:20
  Let's say you find this huge deposit, right?
• 30:23
  You know, like all of a sudden gold supply increases.
• 30:25
  There's like those articles, which I'm sure you guys have
• 30:28
  seen 1000 of, of like those asteroids that like hold like
• 30:32
  significant amount of gold. You're not going to find an
• 30:36
  asteroid holding, you know, 5 million Bitcoin like that's not
• 30:41
  going to happen, right. So the absolute scarcity is, is
• 30:45
  the differentiating factor here. And because the halving is every
• 30:49
  four years, the amount of Bitcoin supply that the downward
• 30:54
  sell pressure from the miners is just going to be essentially
• 30:57
  continue to get cut in half forever.
• 30:59
  And I think by the year 2025, I think it's like 99% of all
• 31:04
  Bitcoin have been mined. And then after that, it's going
• 31:06
  to take like 100 years, I think. No, no, by 2035, it's going to
• 31:11
  be like 99% of all Bitcoin is in mind.
• 31:13
  And then it's going to take 100 years for the rest of that 1% of
• 31:18
  Bitcoin to be mined. Like I think the last Bitcoin
• 31:20
  mine is like the year 2140 or something like that, something
• 31:23
  crazy like that. So the the point is, is that
• 31:26
  like it's absolute scarcity. It is a commodity.
• 31:30
  And you know, that's why it's the best asset the world has
• 31:33
  ever seen. And I think the world is finally
• 31:36
  waking up to that. I mean, we went from the US
• 31:38
  government essentially wanting to ban this thing or ban any
• 31:42
  businesses that had any type of association with it.
• 31:45
  And then when the previous administration attacked our
• 31:49
  industry, it essentially galvanized us.
• 31:52
  We just like came together and we said, you know what, like F
• 31:56
  that, we're going to fight back. And essentially the Bitcoin
• 32:00
  lobbying arm became extremely powerful and now we have a seat
• 32:05
  at the table in Washington DC. We were not in the room before.
• 32:08
  And if you're not in the room, you're not in the deal.
• 32:10
  Now we're in the effing room. I mean, not only are we in the
• 32:13
  room, they're holding entire meetings just related to
• 32:19
  Bitcoin. We played you guys a clip of the
• 32:21
  president essentially making first time AUS president has
• 32:25
  ever done this where he zoomed in to an existing conference.
• 32:31
  So it wasn't president-elect that did that trying to get
• 32:35
  votes. The president, who's already in
• 32:37
  office, is zooming into Bitcoin conferences, Bitcoin and crypto,
• 32:42
  a Bitcoin and crypto conference to be like, listen, it's all
• 32:45
  going to happen in the US. The numbers are going up
• 32:46
  forever. I mean, if that is not a
• 32:48
  testament to the influence and the power of our movement, I
• 32:53
  don't know what is, right? So we're winning.
• 32:56
  We're going to stay winning. You know, I'm going to, I'm
• 32:59
  going to get American Huddle, beat me by a week, but I'm going
• 33:02
  to get on that tip. Fuck the price.
• 33:04
  It's going to 8 million. It's going up forever, don't
• 33:09
  worry. Infinity divided by 21 million,
• 33:12
  this thing's going to go. It's just, it's amazing.
• 33:14
  So yeah, we're in this chopped solidation right now.
• 33:18
  They're trying to shake you out. If you sell your Bitcoin right
• 33:21
  now, more than likely you're selling it to the US government
• 33:25
  or you're selling it to BlackRock.
• 33:27
  Could you imagine that conversation with your
• 33:29
  grandchild or your son fucking 20 years from now going to be
• 33:35
  like, dad, holy shit, you or, you know, whatever mother you,
• 33:39
  you, you bought Bitcoin under 100,000 like, wow, you're such
• 33:43
  AG And it's like, no, I sold it because in 2025 the the price
• 33:47
  was going sideways and I got bored of shit and you know, like
• 33:51
  I, I just. Sold my Bitcoin like don't put.
• 33:53
  Yourself in that position, imagine like you have the
• 33:57
  opportunity, you have a single opportunity.
• 33:59
  Can you imagine like 50 years from now?
• 34:02
  You know, like we're long gone, but there's like a portrait of
• 34:05
  you in the in the family home because they all looked at you
• 34:08
  and there's a 100 years, OK, 50 years is too sharp, but like 100
• 34:16
  years, like like 200 years, right?
• 34:19
  And it's like you have a portrait in your family home
• 34:23
  because you were the dude or the gal that bought Bitcoin under
• 34:28
  100K. Like that's the opportunity.
• 34:30
  That's the opportunity. That's what Michael Saylor
• 34:31
  saying I wanted. 100% agree with it.
• 34:34
  David, you've been at this for a while, man.
• 34:36
  I know you believe. What's your take, dude?
• 34:39
  Are you feeling as bullish as we?
• 34:41
  Are yeah. Wait, wait, wait.
• 34:42
  I do want to chime in though, David, real quick, because
• 34:44
  before the show, you were, you weren't trolling us.
• 34:46
  It's like the price doesn't matter.
• 34:48
  And here we're going just full bull tarted on today's shows.
• 34:54
  It's like that one meme where it's like, hey, dad, what did
• 34:57
  you do in 2025? You're like stack sass, like,
• 34:59
  you know, and then the girl like legend, you know, you want to be
• 35:03
  that guy for sure. You don't want to be the guy.
• 35:05
  Like I sold it all. Oh, man, what a what a loser.
• 35:08
  Yeah. Another thing about gold,
• 35:11
  though, is like one, we don't really know the supply of gold,
• 35:14
  right? We obviously know it's scarce,
• 35:16
  but we don't know the supply. And then when you factor in
• 35:18
  paper gold, like, we don't even know.
• 35:20
  And then the president's trying to, you know, audit Fort Knox
• 35:24
  and he hasn't even been able to. Rand Paul's been trying to, you
• 35:27
  know, audit Fort Knox for 10 years or whatever he said.
• 35:29
  And they haven't been able to like, is the gold even there,
• 35:32
  you know? Yeah, totally.
• 35:34
  Did you actually Speaking of that, did you see that clip?
• 35:37
  I don't know, Nico, if you saw it, did you see the clip of the?
• 35:39
  Gold. The gold ain't there, bro.
• 35:41
  The gold. Is not there not not only that,
• 35:44
  but there was a clip going around of Trump with I I forget
• 35:47
  some reporter and he it like it had totally nothing to do with
• 35:51
  with the Fort Knox gold, but he was commenting on the gold
• 35:56
  plated stuff on the wall. And he's like, yeah, you know,
• 35:59
  you can't you can't just paint stuff gold like it needs to be
• 36:02
  actually gold plated for it to actually look like gold.
• 36:05
  And everyone's like what what it what is this reference to?
• 36:08
  Like is he planting these seeds to kind of talk about that the
• 36:10
  gold isn't actually at Fort Knox?
• 36:12
  Like what is going on here? Why is he making this weird
• 36:15
  comment about, you know, gold spray paint on the walls at the
• 36:18
  White House? And you're just like, what is
• 36:21
  actually going on here? Is he kind of like planting
• 36:24
  these seeds and saying that maybe he was just.
• 36:26
  There, I think he was just showing off.
• 36:28
  He's like, you see these angelic baby gold statues, Like, you
• 36:32
  can't, you can't, you can't paint that.
• 36:34
  That has to be real gold. Like, Oh my God, Trump.
• 36:37
  Trump's a trip, dude. He's like Marsalagas got real
• 36:39
  gold. Unlock Unlock Fort Knox.
• 36:43
  Dude, that guy's a trip anyways guys, I do want to give a shout
• 36:46
  out to the stream 1700 of you guys watching live between
• 36:49
  YouTube and X and almost 70 of you guys watching live on
• 36:52
  rumble. If you guys are enjoying the
• 36:53
  show so far, make sure to smash that like button.
• 36:57
  Smash the like button, share the content, get the message out
• 37:00
  there before we move on to the news segment.
• 37:04
  We have breaking news. Tornado Cash, their sanctions
• 37:09
  have been lifted. The reason that this is a big
• 37:12
  deal is because Tornado Cash is open source software.
• 37:16
  So you see where that was heading eventually, right?
• 37:19
  If the US government is setting a precedent that it could
• 37:22
  sanction open source software and you know how the previous
• 37:26
  administration felt about Bitcoin, so you know, well,
• 37:29
  where where would that go? I mean, it doesn't take a rocket
• 37:32
  scientist to figure that out. Anyways, I do want to give a
• 37:35
  shout out to our merch made by David here.
• 37:38
  David said absolute. This is incredible, incredible
• 37:43
  quality, guys. You guys want to get it while
• 37:47
  supplies last. We're almost sold out of the
• 37:49
  hoodie completely. The T-shirts, check them out as
• 37:52
  well. And of course, the hat, the dad
• 37:55
  hat and the trucker hat. I don't look good with hats, but
• 37:58
  people love hats. Check those out because they
• 38:00
  will, they will, they will sell out and I think I have like
• 38:03
  three of these hoodies to myself already because they're so
• 38:07
  effing comfortable. Like you guys have no idea.
• 38:10
  So if you guys want to support the show, we get this message
• 38:13
  all the time. Nico, how can we support the
• 38:15
  show #1 one, check out our partners.
• 38:18
  That's number one thing you could do.
• 38:20
  And of course, if you got some extra, you know, money leftover,
• 38:23
  buy Bitcoin first. Head over to simplybitcoin.com.
• 38:26
  Check out our latest collection. It's called the Rebirth
• 38:29
  Collection. And check out our merch and
• 38:31
  we'll ship it to you. It comes with custom simply
• 38:34
  Bitcoin packaging and everything.
• 38:36
  It's awesome. The tags, David, they, they,
• 38:37
  they say Bitcoin or slavery, right?
• 38:40
  Yep, Yep, the tags say Bitcoiners.
• 38:42
  Underneath that, yeah, they does say it.
• 38:45
  Man it's David is an absolute genius all right guys we're
• 38:48
  going to hit the news we have tons to talk about we will be
• 38:51
  right back I want to give a shout out to our sponsor Casa
• 38:56
  Bitcoin security matters, but managing private keys can
• 38:59
  sometimes be complicated especially multi sig.
• 39:01
  What if you can secure your Bitcoin without worrying about
• 39:04
  losing a seed phrase or giving up custody with Casa you can
• 39:08
  completely control your Bitcoin with multi key security.
• 39:12
  So even if one key is lost or stolen, your funds stay safe.
• 39:17
  No single point of failure, no stress.
• 39:19
  That's what I absolutely love about these guys.
• 39:22
  They make taking Bitcoin into self custody incredibly easy
• 39:26
  with their best in industry user experience through their app.
• 39:29
  I've been personally recommending Casa for years now
• 39:32
  to my friends and family because they will get all the benefits
• 39:35
  of multi key self custody security without the hassle of
• 39:39
  having to learn complicated UI. And if you're thinking of one
• 39:42
  day passing on your Bitcoin to the next generation, their
• 39:45
  inheritance plan has you covered.
• 39:47
  Also, if you're a business looking to add Bitcoin to your
• 39:51
  treasury, do it the secure way with Casa.
• 39:53
  For business to get started, go to Casa dot IO today and get 5%
• 39:58
  off Casa Standard or Casa Premium with promo code simply.
• 40:10
  You need liquidity without having to sell your Bitcoin.
• 40:14
  For more than six years now, Leaden has been the trusted
• 40:17
  choice for Bitcoin backed lending with transparency,
• 40:22
  security and trust at their core.
• 40:25
  I absolutely love these guys and I personally have not only an
• 40:28
  account with them but also alone.
• 40:31
  And some of the key features that I love about Leaden is the
• 40:33
  fact that there are no monthly payments.
• 40:36
  You pay at the end of the term. You also have the ability to
• 40:40
  roll over the loan as well, and you could pay it back whenever
• 40:45
  you want. Essentially, what they do is
• 40:47
  that they help their clients unlock the liquidity of their
• 40:51
  BTC, allowing you to huddle while still accessing the wealth
• 40:55
  of your Bitcoin. They've been battle tested with
• 40:58
  their focus on transparency, security and trust, allowing
• 41:02
  them to build a proven track record of client success and
• 41:06
  security, helping 10s of thousands of clients harness the
• 41:10
  value of their digital assets with confidence and Peace of
• 41:14
  Mind. Learn more about what your BTC
• 41:17
  can do for you. Check out leaden dot IO today.
• 41:25
  All right, everybody, we are back Opti.
• 41:27
  I mean, this is a big deal. This is a big deal, is it not?
• 41:31
  Yeah, man, we got. We actually have two really big
• 41:33
  news stories coming out today. This just happened right before
• 41:37
  we went live, so I wanted to slip this in here.
• 41:40
  Of course, the US Department of Treasury made a press release
• 41:43
  around Tornado Cash and as you can read here, Tornado Cash
• 41:46
  delisting. So based on the administration's
• 41:49
  review of the novel legal and policy issues raid by use of
• 41:52
  financial sanctions against financial and commercial
• 41:54
  activity occurring within evolving technology and legal
• 41:58
  environments, we have exercised our discretion to remove the
• 42:01
  economic sanctions against Tornado Cash as reflected in
• 42:05
  Treasury's Monday filing in Van Loon, First Department of the
• 42:08
  Treasury. Of course, we remain deeply
• 42:11
  concerned about the significant state sponsored hacking and
• 42:13
  money laundering campaign aimed at stealing, acquiring and
• 42:17
  deploying digital assets for the Democratic People's Republic of
• 42:20
  Korea and the Kim's regime. Treasury remains committed to
• 42:24
  using our authorities to expose and disrupt the ability of
• 42:27
  malicious cyber actors to profit from the criminal through the
• 42:31
  exploitation of digital assets and the digital assets
• 42:35
  ecosystem. And of course, we're also
• 42:37
  committed to enforcing our sanctions against the DRPK to
• 42:39
  constrain in the regime's ability to fund its weapons and
• 42:42
  mass destructions and ballistic missile programs.
• 42:44
  Treasury will continue to monitor closely any transactions
• 42:47
  that may benefit malicious cyber actors or the DPRK.
• 42:52
  And US persons should exercise caution before engaging in
• 42:55
  transaction that present such risk.
• 42:57
  And then we have a quote here by Secretary of the Treasury Scott
• 43:00
  Bessett. Digital assets present enormous
• 43:03
  opportunity for innovation and value creation for the American
• 43:05
  people. Securing the digital asset
• 43:08
  industry from abuse by North Korea and other they're listed
• 43:10
  actors is essential to establishing US leadership and
• 43:14
  ensuring that the American people can benefit from
• 43:17
  financial innovations and inclusion.
• 43:19
  So this is a huge, huge win. I, I would argue, we would argue
• 43:23
  here, Nico and I, when when we first heard the Tornado cash
• 43:26
  story or case kind of happening, everyone on the channel and in
• 43:31
  the audience like, yo, this doesn't have to do with Bitcoin.
• 43:34
  Why are we even talking about it?
• 43:36
  But as we later saw, this was precedent for the Samurai wallet
• 43:40
  case and now this is getting delisted.
• 43:43
  So hopefully this is really good news moving forward for the
• 43:46
  Samurai wallet crew. But it does start to look like
• 43:50
  what we've been saying here for the last couple of weeks, that
• 43:53
  it looks like the regulatory hurdles, all of Operation Choke
• 43:56
  Point 2.0, all the attacks we've seen around Bitcoin, they all
• 44:00
  seem to be falling away. And I think this is just a sign
• 44:04
  of what we're going to see moving forward.
• 44:06
  So this is a huge win here for open source technology
• 44:10
  development and you'd just love to see it.
• 44:13
  So I'm sure we will get some news coming up soon around
• 44:16
  around the Samurai wallet. But Nico, chime in here before I
• 44:20
  move on to the SEC news, because we also got some really good
• 44:23
  news coming out of the SEC and proof of work mining.
• 44:29
  Yeah, absolutely. So, So first of all, this is a
• 44:31
  massive like make no mistake, this is this is a massive, this
• 44:37
  is a massive victory for the entire industry.
• 44:41
  We were covering this as it as it was happening last year and
• 44:46
  it was a series of events, right?
• 44:48
  So first it was essentially demonizing Tornado Cash because
• 44:54
  again, you have to understand like they have to set precedents
• 44:58
  and they have to go towards smaller targets before they end
• 45:02
  up with bigger targets, right? So the reason that they went
• 45:07
  after Tornado Cash was because they were essentially they, they
• 45:11
  boogeymanned it. They said, Oh my God, Tornado
• 45:14
  Cash is being used by North Korea in order to launder money.
• 45:18
  OK, that's fine. But what they forget to mention,
• 45:22
  what they conveniently leave out is that the majority of illicit
• 45:26
  finance is actually done done through the the traditional
• 45:31
  financial system. It's not done through Bitcoin.
• 45:35
  So, but they were using this kind of boogeyman argument to
• 45:38
  essentially justify the sanctioning of open source
• 45:42
  software. Now Coin Center essentially sued
• 45:46
  the government and said, listen, you can't do that.
• 45:49
  That's software. That's code.
• 45:51
  Code is speech. This is a very dangerous
• 45:53
  precedent. Like, what are you guys doing?
• 45:57
  That case was lost. They shot it down in federal
• 46:00
  court literally as soon as that court that that court case was
• 46:04
  shot down in federal court. You know what happened shortly
• 46:07
  after the arrest of the Samurai wallet developers.
• 46:10
  So they started off with a unpopular essentially kind of
• 46:16
  privacy, you know, mixing type software, which no one controls,
• 46:21
  which no one knows is very obscure.
• 46:24
  Then when they got away with it, they set a precedent and then
• 46:27
  they were able to go after a bigger Fitch, which was the
• 46:30
  samurai wallet developers, right.
• 46:32
  And this was around the time where like I went from like
• 46:35
  Opti, we can't be political, the famous Opti gate like Opti week
• 46:39
  political to guys, it's probably a good idea to vote for Trump
• 46:43
  Trump 2024. So like it was a series of
• 46:45
  events that this transpired. And look now that essentially
• 46:49
  the Treasury, which is a controlled by the executive
• 46:52
  branch, meaning it's controlled by the president, has reversed
• 46:56
  its decision, delisted Tornado Cash, lifted the sanctions from
• 47:02
  it. I'm going to say what I've been
• 47:04
  saying for the better half of this year.
• 47:07
  Elections have consequences. We told you so that this was an
• 47:11
  inevitability. This was going to happen.
• 47:13
  And I'll say another thing, we won.
• 47:15
  We won. This was a massive victory.
• 47:18
  I can't emphasize this enough, because if this trend were to
• 47:22
  continue the way it was heading, essentially one day, it was an
• 47:28
  inevitability, they would have said, listen, Bitcoin is is
• 47:33
  dangerous because Russia's using Bitcoin and Russia's using
• 47:38
  Bitcoin to essentially circumvent U.S. sanctions.
• 47:43
  And because they're doing that, we got to sanction Bitcoin
• 47:47
  because it's an open source, a software, and we've already set
• 47:50
  the precedent in doing so. And we know that the Elizabeth
• 47:54
  Warren camp, which a lot of people speculate is the people
• 47:57
  that were influencing the Biden administration regarding their
• 48:01
  policy towards Bitcoin, we know what they want.
• 48:04
  She wants essentially to create a monopoly for the central, the
• 48:10
  roll out of the central bank digital currency, which we know
• 48:14
  the the Federal Reserve was working on.
• 48:17
  There's congressional testimony of Senator Cynthia Lummis
• 48:21
  basically saying, hey, I got a memo from you guys.
• 48:24
  And at the very bottom it says a central bank digital currency.
• 48:28
  Like, I thought you guys weren't working on that.
• 48:31
  Of course they were working on that.
• 48:32
  They had every intention of rolling that out.
• 48:34
  That's what Elizabeth Warren wanted to do.
• 48:36
  I'll leave it with this. There was a vote last year in
• 48:39
  the House, and I asked Senator Lummis this when I interviewed
• 48:42
  her in DC. There was a vote in the House
• 48:46
  last year where the Republicans passed the law that would
• 48:51
  forbade the federal government from rolling out a central bank
• 48:55
  digital currency. Almost every Republican voted
• 49:00
  for that bill. The ones that didn't just didn't
• 49:03
  vote that day. Almost every Democrat voted
• 49:08
  against that bill that would forbid the federal government
• 49:13
  from rolling out a CBDC. It wasn't monolithic.
• 49:17
  There are some Democrats that voted for against the the CBDC
• 49:22
  stuff, but the the vast majority of the party did.
• 49:25
  Right. And now is that an indication
• 49:27
  the party feels that way? No, no, no, I think Elizabeth
• 49:30
  Warren holds a tremendous amount of influence.
• 49:33
  And make no mistake in the battle, the, the, the, the
• 49:36
  policy battle for Bitcoin in the US, this was a massive, massive,
• 49:41
  massive win. And it's a reminder that again,
• 49:45
  elections have consequences because because if Kamala would
• 49:51
  have won, and it's not about left or right, it's not about
• 49:53
  Democrat or Republican, It's about either you're a pro
• 49:57
  Bitcoin candidate or you're an anti Bitcoin candidate.
• 50:00
  And this previous election, it was very obvious there was a pro
• 50:02
  Bitcoin candidate and there was an anti Bitcoin candidate.
• 50:05
  If Kamala would have won, Bitcoin would probably still be
• 50:08
  at like 40 or 50K. Ross would still be in prison.
• 50:13
  SAB 121 wouldn't have been wouldn't have been repealed and
• 50:17
  this news coming out about Tornado Cash, it would have
• 50:20
  gotten worse. They would have gotten after
• 50:23
  another open source software slowly, you know, setting
• 50:27
  precedence and getting one step closer to Bitcoin Because
• 50:31
  remember what they wanted, they essentially wanted that every
• 50:34
  node, they were trying to make the case that every node had to
• 50:39
  apply KYC because if, because if it didn't apply KYC, it would be
• 50:43
  considered, you know, a money transmitter, right?
• 50:47
  Which is BS, but they're trying to get away with that.
• 50:50
  So make no mistake, this is a big victory.
• 50:54
  And I hope it's a reminder to all the Bitcoiners who were
• 50:58
  watching us at the end of last year when we were saying guys
• 51:01
  like, we know the orange man isn't perfect.
• 51:05
  Politics sucks, but there are real, there are actual
• 51:08
  consequences for us depending on who gets into office.
• 51:14
  And this is just another reminder of that, right?
• 51:17
  So as the Bitcoin movement continues to get bigger, as our
• 51:21
  movement continues to get more influential, inevitably we were
• 51:25
  starting, we were going to start to, you know, tiptoe into the
• 51:29
  political realm. Obviously happened a lot faster
• 51:33
  than we anticipated, but at the same time, that's a good thing
• 51:38
  because at least we're going to be able to influence what is
• 51:41
  happening in the world around us.
• 51:43
  I would rather have a Bitcoiner in the room in Washington DC
• 51:47
  than not have a Bitcoiner in the room in Washington DC.
• 51:52
  Now, is the current administration perfect?
• 51:54
  No, he did launch Trumpcoin 3 days before the inauguration.
• 51:58
  There's a lot of things we're not happy about.
• 52:00
  Brad Garlinghouse was at the Crypto Summit.
• 52:03
  Like, that's not a good look. But again, beggars can't be
• 52:06
  choosers. I would rather have this than
• 52:09
  the opposite, which was total totalitarianism, right?
• 52:14
  Anyhow, that's my bit. Big win for us.
• 52:17
  I mean, Opti, like we've gone and we went covering this.
• 52:22
  Things are getting dark. We were thinking about moving to
• 52:24
  El Salvador to, I mean, look at how far we've come, man.
• 52:28
  Yeah, and further, but you know, just doubling down on on the
• 52:32
  meme of election type of consequences.
• 52:33
  We are seeing even more downstream consequences here.
• 52:36
  And the next portion is this announcement from the SEC and
• 52:41
  it's a statement on quote, certain proof of work mining
• 52:44
  activities. I'm gonna read the introduction
• 52:46
  just so you guys get an idea, and then I'll give you guys the
• 52:48
  meat of this and then we'll get David to chime in on both of
• 52:50
  these. So introduction is part of an
• 52:52
  effort to provide greater clarity on the application of
• 52:54
  the federal security laws to crypto assets.
• 52:57
  The Division of Corporation Finance is providing its views
• 53:00
  on certain activities on proof of work networks known as quote
• 53:03
  mining. Specifically, the statement
• 53:05
  addresses the mining of crypto assets that are intrinsically
• 53:08
  linked to the program, program programmatic functioning of a
• 53:12
  public permissionless network and are used to participate in
• 53:16
  and or earn for participating in such networks.
• 53:18
  Consensus mechanism or otherwise used to maintain and or earned
• 53:23
  for maintaining the technological operation and
• 53:25
  security of such network. Essentially just proof of work
• 53:28
  mining. That's what they're going on.
• 53:30
  Then there's this whole portion of basically what is proof of
• 53:32
  work mining? They actually kind of named it,
• 53:34
  they added some kind of strange names to this, but anyways,
• 53:38
  they're calling proof of work mining protocol mining in this
• 53:41
  statement. So here here's like the meat and
• 53:43
  potatoes of this statement. The division view pertains to
• 53:46
  the following protocol mining activities or proof of work
• 53:49
  mining activities and transactions.
• 53:51
  Quote mining activities and each a mining activity 1 mining
• 53:56
  crypto assets Bitcoin assets on a proof of work network and two
• 53:59
  the roles of mining pools and pool operators involved in the
• 54:02
  protocol mining process, including their roles in
• 54:05
  connection with the earning and distribution of reward boards.
• 54:09
  You know, so it's laying out solo mining and mining pools and
• 54:12
  here we go the discussion Section 2A1 of the Securities
• 54:16
  Act and section 3A one of the Exchange Act each defines the
• 54:19
  term security by providing a list of various financial
• 54:22
  instruments, including stock, note and bond.
• 54:24
  Because of covered crypto asset does not constitute any of the
• 54:27
  financial instruments that are specifically enumerated in the
• 54:30
  definition of security. We conduct our analysis of
• 54:33
  certain transactions involving crypto assets in the context of
• 54:36
  proof of work mining under the quote investment contract test
• 54:40
  set forth in SEC versus WJ Howie Co.
• 54:45
  The Howie test is used to analyze arrangements or
• 54:47
  instruments not listed in those statutory section sections based
• 54:51
  on their economic realities and evaluating the economic
• 54:53
  realities of a transaction. The test is whether there is an
• 54:56
  investment of money in an enterprise pre premise on a
• 55:00
  reasonable expectation of profits to be derived from the
• 55:02
  entrepreneur or managerial efforts of others and federal
• 55:05
  court. Since how we have explained that
• 55:07
  how he's efforts of others requirement to satisfy when the
• 55:10
  efforts made by those or others and this investor are the
• 55:13
  undeniably significant ones. Essentially, here's the here it
• 55:16
  is the miners sell for solo mining is not undertaken with a
• 55:20
  reasonable expectation of profits to be derived from the
• 55:22
  entrepreneur or managerial efforts of others.
• 55:24
  Rather, a minor contribute to its own computational resources
• 55:28
  which secure the network and enable the minor to earn rewards
• 55:31
  issued by the network and going further.
• 55:34
  Likewise, when a miner combines its computational resources with
• 55:37
  other miners to increase their chances of successfully mining
• 55:41
  new blocks on the network, the miner has no expectation of
• 55:43
  profit derived from the entrepreneurial or managerial
• 55:46
  efforts of others by adding its own network.
• 55:49
  So essentially TLDR here is basically what our girl Lola
• 55:52
  Elite says. Good morning.
• 55:54
  The SEC just declared Bitcoin miners are exempt from SEC
• 55:57
  oversights. It is division view that mining
• 56:00
  activities do not involve the offer and sales security.
• 56:03
  Accordingly, it is the division's view that
• 56:05
  participants in mining activities do not need to
• 56:07
  register transactions with the Commission.
• 56:11
  So another huge win coming down the pipeline.
• 56:14
  Yes, I know a lot of Bitcoiners are apolitical.
• 56:17
  They don't like politics. I was apolitical before Bitcoin.
• 56:21
  But now we realize, hey, politics is on our door.
• 56:24
  And as Nico's been saying, elections have consequences.
• 56:28
  And you know, Trump isn't perfect, but it's starting to
• 56:31
  look like a lot of the regulatory hurdles we've been
• 56:34
  seeing around Bitcoin, whether it's Operation Choke Point 2.0,
• 56:38
  whether it's the SEC's bad treatment of Bitcoin, whether it
• 56:42
  was the, you know, the court cases around open source
• 56:45
  software. It seems like those things are
• 56:48
  going out the window. And now the SEC has just
• 56:51
  announced that mining Bitcoin is not a security.
• 56:55
  So it's looking really good for Bitcoin companies in the USI
• 56:59
  think this is another huge win here.
• 57:01
  It's man, it it it is kind of like the meme here.
• 57:04
  We're I think we're going to get tired of winning and every new
• 57:07
  win we're like, OK, this is a cool win, but why is it the
• 57:10
  Bitcoin price pumping, man? Like what is going on here?
• 57:14
  So actually, actually, sorry, David, I'll give you a moment.
• 57:17
  But Nico, you are or were a miner.
• 57:20
  So what's the significance of this?
• 57:24
  I mean, connecting it with what I was saying, right, like it's
• 57:27
  the same thing. It's and This is why like it's
• 57:30
  like why the F is the price not going up?
• 57:32
  Is it being suppressed like the this is bullish news across the
• 57:36
  board, the regulatory environment, like, you know,
• 57:39
  it's the parting of the Seas. Like we, if you're a Bitcoin
• 57:44
  entrepreneur in the United States, you do not feel any type
• 57:48
  of pressure like compared to the previous administration, like,
• 57:51
  you know, they were proposing a 30% Bitcoin mining tax.
• 57:55
  Can you imagine that? That would essentially drive any
• 57:59
  miner out of business. And they know that they knew
• 58:02
  that it wasn't a tax because they wanted a tax stuff.
• 58:06
  It was a tax because, you know, they essentially wanted to drive
• 58:10
  miners out of business. And then the whole thing that
• 58:13
  drives me crazy and I'm going there because it's Friday and
• 58:16
  fuck it. OK, so the whole thing was like
• 58:21
  environment. The environment is this and the
• 58:23
  environment is that. Meanwhile they're burning
• 58:26
  fucking Teslas. Like come on now.
• 58:30
  Isn't Tesla like the electric car company with the mission to
• 58:35
  like better the environment? Like isn't that the whole
• 58:37
  mission of the of the Tesla? And now because of Elon's
• 58:42
  politics, they're burning Teslas.
• 58:44
  And there was like a, a there was a senator who sold his Tesla
• 58:49
  and got like a like a Ford F-150, like a gas guzzler.
• 58:53
  So like, I'm thinking, I'm like, so this wasn't about the
• 58:56
  environment. It was this ever about the
• 58:58
  environment? Like, if it was about the
• 58:59
  environment, you'd be like, OK, you know, Elon, I don't agree
• 59:02
  with Elon. What he's doing is kind of
• 59:03
  fucked up. But this is an electric car
• 59:05
  company. It had nothing to do with the
• 59:07
  environment. It was politics the entire time,
• 59:09
  right. So, yeah, I mean, and I'm really
• 59:12
  glad, you know, did this happen? You know, I'm really glad that
• 59:16
  this this recent outcome, it's good for miners, it's good for
• 59:20
  Bitcoin businesses, it's good for Bitcoin entrepreneurs.
• 59:23
  Elections have consequences. And I mean, you see it from a
• 59:28
  lot of mining companies, like a friend of mine, he he just CEO
• 59:33
  of a one of those publicly traded Bitcoin mining companies
• 59:36
  and they moved their headquarters to the US.
• 59:39
  Also Hive digital technologies, they move their headquarters to
• 59:43
  Texas, right. So, you know, again, it's, it's,
• 59:48
  it's, it's the proof is in the pudding.
• 59:51
  Like don't listen to what I'm saying.
• 59:52
  Like, why would they be moving their headquarters to the US if
• 59:56
  they didn't feel bullish about the situation?
• 59:58
  So, you know, someone in the chat is like, no, it's never
• 1:00:00
  about the environment. I mean, you got to give people
• 1:00:02
  the benefit of the doubt. Me and Opti gave like, we gave
• 1:00:06
  the benefit of the doubt for like.
• 1:00:08
  Two years to the point that Opti was like, Nico, you're a, you're
• 1:00:10
  an idiot, bro. Like you're an idiot.
• 1:00:12
  Like what are you doing, dude? I'm having Deja vu right now.
• 1:00:15
  Then I was like, and I was like, and I was like, dude, like no,
• 1:00:17
  man, like we have to be inclusive with our messaging.
• 1:00:20
  Like, you know, we have to like, you know, we have to be smart
• 1:00:23
  about this. But then it was like then they
• 1:00:26
  then they started putting Bitcoin privacy developers in
• 1:00:29
  prison, right? And then at that point it's
• 1:00:31
  like, you know what, like guys like, like, you know, it's just
• 1:00:35
  like they're going after us. And I was actually talking to
• 1:00:38
  Nick Bhatia. I think that show will release
• 1:00:41
  on Saturday and Sunday. He's releasing a new book called
• 1:00:45
  Bitcoin Age. But he actually brought
• 1:00:48
  something up that I've said on the show a couple times, which
• 1:00:51
  is I think you can make a very solid argument that this anti
• 1:00:57
  Bitcoin stance that the opposing political party took on this
• 1:01:03
  previous election might have cost them the election.
• 1:01:06
  Because a big part of their voting demographic is the
• 1:01:10
  younger generation and the younger generation feel very
• 1:01:14
  good about Bitcoin and crypto. So it's not politically popular
• 1:01:19
  to have an anti Bitcoin stance, right?
• 1:01:23
  So you can make that argument, right?
• 1:01:25
  Maybe it's wrong, maybe it isn't.
• 1:01:26
  I guarantee it cost them some votes, right?
• 1:01:29
  And an election that was going down to the line, like perhaps
• 1:01:32
  it wasn't wise. So yeah, man, I mean, again,
• 1:01:35
  the, the general message here is elections have consequences.
• 1:01:39
  I hope, because I truly believe that Bitcoin is not a partisan
• 1:01:44
  technology. Bitcoin is for everyone.
• 1:01:47
  I hope that this election is going to change it.
• 1:01:51
  It it, it's going to make Bitcoin a non partisan issue, as
• 1:01:55
  it should be, because it's a non partisan technology.
• 1:01:59
  It's a technology for everyone. We were forced to pick a side as
• 1:02:04
  Bitcoiners because the other side essentially would be the
• 1:02:08
  demise of the Bitcoin industry in the United States.
• 1:02:10
  And it kind of forced us into a corner, not because we wanted
• 1:02:13
  to, but because we had no choice, right?
• 1:02:17
  So you could even make an argument that if they weren't so
• 1:02:22
  hostile towards our industry, I don't think our industry would
• 1:02:25
  have gotten political. I don't think anyone would have.
• 1:02:28
  I don't think the Bitcoin industry would have been like,
• 1:02:30
  hey, Trump's probably a good idea.
• 1:02:31
  Like, I don't think people would have cared.
• 1:02:33
  It would have just been business as usual.
• 1:02:36
  No one would have cared. But the fact that they attacked
• 1:02:39
  us, the fact that they jailed us, forced us into a corner and
• 1:02:44
  it made us react, and the outcome is essentially the exact
• 1:02:50
  opposite of everything they wanted to happen, you know, six
• 1:02:54
  months ago, right? So, yeah, I mean, elections have
• 1:02:57
  consequences. Don't mess with us.
• 1:02:59
  Look, the outcome is there. And yeah, I mean, we're winning
• 1:03:04
  that. That's my take on all this.
• 1:03:05
  I know I went on a little bit of a tangent, but it is Friday.
• 1:03:07
  I'm in the Coho seat. It's a lot easier to just ramble
• 1:03:10
  and talk and not be hosting. David, I'm going to give you the
• 1:03:14
  mic because I just went on a like 20 minute soapbox rant.
• 1:03:18
  What's your take on all this man?
• 1:03:21
  Yeah, I think it's, it's pretty obvious that the state is out of
• 1:03:25
  control and I think that's a big problem.
• 1:03:28
  I kind of look at things from a different point of view where I
• 1:03:33
  believe that we should just start going peer-to-peer.
• 1:03:35
  I think we should start going more like, you know, Bitcoin to
• 1:03:37
  Bitcoin businesses and stuff like that.
• 1:03:40
  I really, I don't believe in the state.
• 1:03:42
  I don't, I don't vote, I don't get involved in that at all.
• 1:03:45
  I don't try to give them any power.
• 1:03:46
  I don't acquiesce as much as possible and wherever I can.
• 1:03:50
  And I think that's where I think that's where we as Bitcoiners
• 1:03:52
  need to go. I would kind of argue maybe the
• 1:03:56
  other side of it would be like if Kamala Harris did win, right?
• 1:04:00
  It might have kind of ramped things up a little bit more and
• 1:04:03
  got people kind of off their seat and a little bit more, you
• 1:04:05
  know, like, hey, we need to really, you know, push the
• 1:04:07
  envelope here and get some things going as far as like
• 1:04:09
  development goes and, and getting, you know, more private
• 1:04:13
  ways to to transact and stuff like that.
• 1:04:15
  So, yeah, that's, that's kind of my take on it.
• 1:04:17
  You know, I'm a little bit more on the anarchist side and
• 1:04:20
  that's, that's where I'm at. Let me ask you something though,
• 1:04:23
  David, I don't, I don't mean to put you on the spot like, and,
• 1:04:26
  and, and that's essentially all the blowback that we got when we
• 1:04:31
  started essentially like saying like, all right, guys, Trump or
• 1:04:35
  RFK, All the blowback was from most Bitcoiners that have that,
• 1:04:41
  that school of thought, which is like, it's, you know, it's not
• 1:04:45
  red versus blue. There's the state and then
• 1:04:47
  there's you, right. My response to that would be if
• 1:04:52
  we all thought that way, then Ross wouldn't be free right now.
• 1:04:55
  Like if we all thought that way, you know, this, you know, this
• 1:04:59
  positive regulatory environment in the United States would not
• 1:05:03
  be the case. Therefore, if you're trying to
• 1:05:05
  build a Bitcoin business in the US, it wouldn't be possible.
• 1:05:08
  Are you just saying like look like you know, are you, are you
• 1:05:13
  coming from the camp of acceleration ISM right where is
• 1:05:16
  like if Kamala got in, things would have gotten so bad that
• 1:05:20
  the free market would have taken care of things, you know, people
• 1:05:23
  would have moved to El Salvador etcetera, etcetera.
• 1:05:27
  Yeah, free market to me is always going to win no matter
• 1:05:29
  what. I see it in my business.
• 1:05:31
  And, you know, the way I've developed my business, the free
• 1:05:34
  market will win no matter what I think.
• 1:05:37
  I mean, just the fact that we even have Bitcoin is like, you
• 1:05:39
  know, a tremendous discovery or, you know, innovation in itself.
• 1:05:43
  So I, I think the free market does win.
• 1:05:45
  I I think it does. Gotcha.
• 1:05:47
  Yeah, no, and that's a that's a good point.
• 1:05:49
  I mean, I remember Opti was was saying that as well.
• 1:05:52
  So yeah. And I agree.
• 1:05:54
  I agree. I think the question is like
• 1:05:57
  David is like how much pain, how much pain do we have to endure?
• 1:06:01
  Right. And I think, I think, you know,
• 1:06:05
  obviously with this, with the current Trump administration, I
• 1:06:08
  think we avoided a lot of pain. But I think the counter argument
• 1:06:12
  from a free market perspective to that would have been like,
• 1:06:15
  yeah, I mean, you just, you're just delaying the inevitable,
• 1:06:19
  right? And if this is the separation of
• 1:06:21
  money and state, there's an, there's an, there's an
• 1:06:24
  inevitability there to the point where, you know, as bitcoiners
• 1:06:29
  like, you know, as much as Sailor says this, and I do agree
• 1:06:33
  Bitcoin is a commodity, but Bitcoin is also money, right?
• 1:06:37
  So yeah, I agree, man, I, I think that's a good take.
• 1:06:40
  Good perspective. I think me and Opti were just 4.
• 1:06:45
  Opti didn't want, Opti didn't want to move.
• 1:06:46
  Opti wanted to stay here. I'm.
• 1:06:49
  Like I'm not going anywhere. Literally guys, but you know,
• 1:06:52
  publicly, like you guys saw the opti gate stuff and even
• 1:06:56
  privately me and Nika were like having real arguments around
• 1:07:00
  politics and you know, cuz I, I do come from more like a the
• 1:07:04
  same kind of thinking that David does.
• 1:07:07
  Now I'm kind of realizing like look and and someone was joking
• 1:07:10
  Nika. They're like, all right, can
• 1:07:11
  someone say Overton window? I need a shot.
• 1:07:13
  It's Friday. We didn't say it one time,
• 1:07:15
  right? Watch and this is the this is
• 1:07:16
  the point. And like, I think the point is,
• 1:07:19
  is like, we haven't gotten to that point yet where everyone
• 1:07:22
  kind of agrees with what David or I would say here.
• 1:07:25
  Like a lot of people are still in this idea of like, you know,
• 1:07:30
  things are OK. I, I don't know about this
• 1:07:33
  whole, you know, like free for all Mad Max world.
• 1:07:35
  Like that sounds even worse than what we have.
• 1:07:38
  And I think we're getting to a point now where it's becoming
• 1:07:42
  very obvious that a lot of us, a lot of the stuff us Bitcoiners
• 1:07:45
  have been saying for years now is very true.
• 1:07:47
  Whether it's like government mismanagement, all the money
• 1:07:50
  they're printing, like, you know, the, the classic quote of
• 1:07:53
  like, what does the government do that is better than the free
• 1:07:56
  market? I think people are starting to
• 1:07:58
  realize, especially this week, it's been a really big week on
• 1:08:01
  Twitter. The last two weeks have been
• 1:08:03
  really big. A lot of the stuff that the
• 1:08:05
  Trump administration is releasing and exposing, whether
• 1:08:08
  it's Doge, et cetera, like I think people are starting to get
• 1:08:11
  pushed and that Overton window is getting pushed and people are
• 1:08:14
  starting to be like, wait, like what, what what is going on
• 1:08:18
  here? Wait, like, is this really how
• 1:08:19
  the world works? So I think you know, me, me and
• 1:08:22
  David are like, come on, come on, guys.
• 1:08:24
  You, you guys will get there soon enough.
• 1:08:26
  But I just don't think most people are ready for it.
• 1:08:28
  Like America isn't ready for it, but they're slowly but surely
• 1:08:31
  waking up for to this, these facts and the world is waking up
• 1:08:34
  as well. So soon enough, I think we'll
• 1:08:36
  get somewhere where like I, I wouldn't say like a libertarian
• 1:08:39
  utopia stuff, but I think people are start to wake up to the idea
• 1:08:42
  that maybe a smaller government is beneficial to us as
• 1:08:46
  individuals. So long way to go, but we're
• 1:08:49
  getting there. Anyways, let's get into the
• 1:08:51
  culture because we want to talk with David about represent about
• 1:08:54
  our new merch. We're super hyped on this.
• 1:08:56
  So let's get into this. Wait, wait.
• 1:08:58
  Before we do that, before we do that, hold up.
• 1:09:01
  I do want to give a shout out to the live stream.
• 1:09:04
  Appreciate the 2000 of you guys watching live between YouTube
• 1:09:08
  and X. And of course, shout out to the
• 1:09:10
  Rumble audience, the most hardcore audience of them all.
• 1:09:13
  If you guys want to see a chat that's constantly crapping on me
• 1:09:17
  and Opti, check out the Rumble Rumble chat.
• 1:09:19
  It is absolutely savage. Appreciate you guys coming back
• 1:09:23
  every day though. It's just troll troll Nico and
• 1:09:26
  opti chat on rumble but if you get more.
• 1:09:29
  Nico than Opti, but you know, we'll take it.
• 1:09:32
  I feel like the YouTube chat likes me more, but if, if
• 1:09:36
  there's a lot to read into that, right?
• 1:09:38
  If if you guys are enjoying the show so far, make sure to smash
• 1:09:41
  that like button. We're at 180 likes on YouTube.
• 1:09:44
  Help us break 200 likes by the time the show ends.
• 1:09:48
  So the 350 of you guys watching live on YouTube, smash that like
• 1:09:52
  button guys. It helps tremendously with the
• 1:09:55
  algorithms. Wait, wait, wait wait.
• 1:09:57
  Before we go on. If this is big, if true, Jim
• 1:10:00
  Cramer just said Bitcoin will never go to 1,000,000.
• 1:10:02
  It's over and. It's over.
• 1:10:04
  We're it's over. We're we're going to be really,
• 1:10:06
  really rich. Alright, everybody, we're going
• 1:10:10
  to hit the culture. We're going to be right back.
• 1:10:13
  I want to give a shout out to our partner Hive Digital
• 1:10:16
  Technologies. As the first ever public miner,
• 1:10:20
  Hive's position to quadruple their global footprint in 2025
• 1:10:25
  and as the first with an AI strategy, Hive continues to make
• 1:10:30
  moves in sustainable high performance computing.
• 1:10:34
  They consistently topped the industry in Bitcoin mine per
• 1:10:38
  Exahash, and now they're headquartered in the USA.
• 1:10:42
  They're leaning me, they're green and clean, and they're
• 1:10:45
  changing the game. You can catch the latest buzz by
• 1:10:48
  following them at Hive Digital Tech or check out their website
• 1:10:52
  at Hive digitaltech.com. I want to give a shout out to
• 1:11:07
  our partner, Coin Kite. If you take your Bitcoin
• 1:11:10
  security seriously, you'll need the best Bitcoin hardware wallet
• 1:11:14
  on the market to take self custody.
• 1:11:16
  That's where Cold Card comes in. The Cold Card Q is the most
• 1:11:20
  advanced Bitcoin signing device ever made.
• 1:11:23
  It's got a full keyboard, larger screen, and NFC support, making
• 1:11:27
  air gap signing easier than ever.
• 1:11:30
  It's built for power users who want the ultimate security
• 1:11:33
  without sacrificing usability. And if.
• 1:11:36
  You're looking for a battle tested on compromising cold
• 1:11:39
  storage. The Cold Card MK4 is your go to
• 1:11:43
  with PSBT signing an industrial grade secure element and USBC.
• 1:11:48
  It's the perfect blend of security and convenience.
• 1:11:51
  Both devices are of course 100% Bitcoin only open source and
• 1:11:56
  built by Bitcoiners for Bitcoiners.
• 1:11:59
  Secure your Bitcoin the right way with the Cold Card queue and
• 1:12:03
  the MK4. Head over to coldcard.com today
• 1:12:06
  and use promo code simply to get 5% off anything on the store.
• 1:12:14
  All right everybody, I'm holding it in my hand.
• 1:12:16
  This is the this is the cold card queue.
• 1:12:19
  It's incredibly awesome. This is this is our daily driver
• 1:12:22
  here at simply Bitcoin. It makes spending Bitcoin in
• 1:12:25
  self custody and cold storage incredibly easy without
• 1:12:28
  sacrificing convenience. Highly highly recommend it.
• 1:12:31
  It's incredibly easy to use use promo code simply to get 5% off
• 1:12:36
  anything on the cold card store. The cold card is considered the
• 1:12:40
  best Bitcoin hardware wallet and Bitcoin Check it out head over
• 1:12:44
  to coldcard.com and if you use promo code simply you get 15%
• 1:12:50
  off I I I think I see David holding a cold card is is that
• 1:12:53
  true? There you go.
• 1:12:54
  See. I got the old one.
• 1:12:55
  I I want that new screen. There we go that's the MK or the
• 1:12:59
  MK4, which is a good one as well.
• 1:13:01
  But yeah, head over to cold card today, guys.
• 1:13:03
  Use promo code simply store your Bitcoin properly.
• 1:13:07
  Anyways, I'm super excited to have David on the show today.
• 1:13:12
  Winekus, you want to come, come, come, come, come here Winekus.
• 1:13:15
  Wine in the bill. Come here, Winekus.
• 1:13:17
  So we got Winekus in the house wine a kiss is responsible for
• 1:13:22
  the design and he's putting on the hoodie and then David is
• 1:13:26
  responsible for the manufacturing here here's here's
• 1:13:30
  wine I'm. Shadowy today.
• 1:13:31
  He's a shadowy. He's a shop.
• 1:13:33
  Shadowy. Wine, a kiss.
• 1:13:35
  Yeah, Go, go, go. If you guys want to support the
• 1:13:38
  the show, check out Simply Bitcoin Steal.
• 1:13:41
  All. The girlfriends but but yeah, so
• 1:13:45
  David hasrepresentltd.com and David is a is a bitcoiner
• 1:13:52
  represent makes incredible, incredible merch opti.
• 1:13:56
  We should go to representltd.com.
• 1:13:58
  I got it right here. Thank you, Sir.
• 1:14:01
  And they're constantly dropping new collections.
• 1:14:06
  You guys are partnered with Nate Diaz, Is that correct?
• 1:14:08
  Yeah, DD is one of the owners of the company as well.
• 1:14:11
  That's awesome guys. This is extremely high quality
• 1:14:16
  merch and clothing. It's extremely comfortable.
• 1:14:20
  I I at least have 50 or 60 represent hoodies and anytime I
• 1:14:26
  just want to get comfortable I just start switching them and I
• 1:14:29
  have the camo. Oh can't Remember Remember the
• 1:14:33
  simply Bitcoin camo hoodie? No.
• 1:14:35
  That one was hard. Oh man, I love that one.
• 1:14:38
  So yes, guys, Represent is awesome and David is a Bitcoiner
• 1:14:41
  through and through. In fact, me and big me and David
• 1:14:45
  have known each other since the very early days of Simply
• 1:14:48
  Bitcoin. That's how far we go back and
• 1:14:52
  David has always been a huge supporter of the show.
• 1:14:55
  And of course, we continue to work with them.
• 1:14:57
  So, David, thank you. Thank you so much for joining
• 1:15:00
  us. Man.
• 1:15:00
  I have so many. Look at that one.
• 1:15:02
  It's so sick. I know Opti loves that one.
• 1:15:05
  Why do you think I clicked on it?
• 1:15:08
  So, yeah, so, so David, like, how's it been?
• 1:15:11
  Like you're, you're, you're, you know, you're a Bitcoiner, but
• 1:15:14
  this isn't, I mean, if you're a bitcoiner and you have a
• 1:15:17
  business, it's a Bitcoin business by default.
• 1:15:19
  But I guess what I'm trying to say is like the you got, you
• 1:15:23
  guys sell merchandise, you guys sell clothing.
• 1:15:26
  How has Bitcoin essentially, how has it helped you?
• 1:15:30
  Has it changed your outlook? Has it helped your business?
• 1:15:33
  What's that been like, David? Yeah, so it so one week we
• 1:15:37
  implemented payments on on on our website.
• 1:15:40
  You know, we could actually take Bitcoin and lightning through
• 1:15:42
  strike and you know, that was kind of a cool integration.
• 1:15:45
  But even before that, like when I first got into into Bitcoin, I
• 1:15:49
  was like so hyped and like excited about it and I was like,
• 1:15:52
  this is going to change the world.
• 1:15:53
  And, you know, and I and I created like a Bitcoin
• 1:15:56
  collection and, you know, it just wrote like a whole thing.
• 1:15:59
  I had like little links, I think to you guys, to Max Keiser, to
• 1:16:04
  the Breedlove and Sailor interview, you know, the, the,
• 1:16:07
  the, the iconic one with the, all the, the episodes.
• 1:16:10
  And yeah, I was just kind of pushing it.
• 1:16:12
  And I'm always trying to kind of just push it like low key
• 1:16:15
  because obviously we have a different audience.
• 1:16:17
  You know, we're, we're, we're one of the top brands in MMA and
• 1:16:20
  combat sports. So I'm just trying to like stick
• 1:16:22
  it in there as much as I possibly can and try to get some
• 1:16:24
  normies to, to kind of crossover and, and see the Bitcoin way of
• 1:16:27
  life. And luckily, I mean, just
• 1:16:30
  through pushing it little by little, people, people have
• 1:16:34
  actually adopted it and they buy it and they're holding it and
• 1:16:37
  people that I wouldn't expect to do it, they're like, hey man,
• 1:16:39
  thanks for letting me know about that.
• 1:16:40
  We just, you know, we ran up and like, oh, shoot, you bought
• 1:16:43
  Bitcoin. That's that's great.
• 1:16:44
  And you actually listened and I'm like now self custody, you
• 1:16:48
  know, I'll help you out with that.
• 1:16:49
  Whatever you need to do and then take it from there.
• 1:16:52
  But it's, it's a, it's a cool journey.
• 1:16:53
  And at the end of the day, it's like I kind of feel weird
• 1:16:56
  chilling, you know, like, you know, they'd buy my clothes or
• 1:16:58
  whatever. But but yeah, that's, that's
• 1:17:00
  what we do. And you know, if you like this
• 1:17:02
  stuff, let me know, you know, DM me, I'll get you like a special
• 1:17:04
  discount code or something like that.
• 1:17:06
  And you know, I don't like to make too much money off of
• 1:17:07
  Bitcoiners. I always try to like over
• 1:17:09
  deliver any of the Bitcoiners that know me, they'll DM me and
• 1:17:12
  say, hey, I just ordered, you know, thanks for the purchase.
• 1:17:15
  And I'll, I'll throw in the extra stuff and you know, any
• 1:17:17
  other Bitcoin merchants that we have laying around and I'll
• 1:17:19
  throw it in there and you know, just add some value to it.
• 1:17:22
  Yeah, man, bro, again, also the quality, dude, the quality,
• 1:17:26
  right. You know, we, we, we take pride
• 1:17:29
  and and I don't want to be I don't want to name any names or
• 1:17:33
  anyone, but this is not drop shipped.
• 1:17:35
  We buy the inventory beforehand. David, again, you guys do all
• 1:17:40
  this stuff in house. This is not something that you
• 1:17:43
  guys outsource and that's why it's so comfortable.
• 1:17:46
  Like I'm constantly wearing either simply Bitcoin represent
• 1:17:52
  hoodies, I'm a hoodie type of guy, or just represent hoodies
• 1:17:56
  in general because it's just so I have my like, I think like 60%
• 1:18:00
  of my closet at home, it's just just hoodie over hoodie over
• 1:18:03
  hoodie and all the different designs that you guys have made
• 1:18:06
  over the years. I got to send up to your care
• 1:18:08
  package for sure hey. There you go.
• 1:18:11
  Yeah. I got the old.
• 1:18:12
  I got the old represent care package, the simply Bitcoin
• 1:18:17
  stuff, but I don't know, this new stuff is, is lit.
• 1:18:20
  And actually I do want to say something because guys, if
• 1:18:23
  you're buying the merch again, I, I was, I was hounding whine
• 1:18:27
  about this and me and David were talking about this earlier on
• 1:18:30
  the show. It's all 100% cotton.
• 1:18:32
  It's all good cuts. So the T-shirts are a little
• 1:18:35
  oversized. I usually wear between like
• 1:18:38
  large and extra large. And I got the XL1 and it's a
• 1:18:41
  kind of, it's a little big. So like I would say downsize a
• 1:18:44
  little bit on the T-shirts, but the hoodies are pretty much like
• 1:18:46
  true fit. So that's just something I'd
• 1:18:49
  keep in mind for you guys. But like the quality is
• 1:18:51
  incredible guys. So this is like I was telling
• 1:18:53
  David before the show, I, I was hounding whine about this.
• 1:18:57
  I I wanted us to give the best merch possible.
• 1:19:00
  Like the quality is great. When you feel the quality of the
• 1:19:02
  merch, you're going to be like, OK, like I'm super hyped on
• 1:19:05
  this. It's really good quality.
• 1:19:07
  It's even got like stylish, stylish cuts.
• 1:19:10
  It's trendy. It's it's dope, man.
• 1:19:12
  David killed it and he's a bitcoiner.
• 1:19:14
  And This is why we love partnering with David about this
• 1:19:17
  because the merch is just great, man.
• 1:19:19
  It's just, it's just fucking awesome.
• 1:19:20
  So I'm super hyped on what we delivered though as I was saying
• 1:19:24
  man we should have bought more like.
• 1:19:26
  Next match is going to be more. That's what Isaac was saying is
• 1:19:29
  like, hey man, like you know, I think we're almost sold out
• 1:19:32
  dude. We got to order more.
• 1:19:34
  I'm like, oh shit, really already good for you guys, man.
• 1:19:37
  But that's an attribute to where simply Bitcoin is has grown.
• 1:19:39
  I mean, like, like Nico said, it's like, you know, we're,
• 1:19:43
  we're there in the early days. I remember, you know, 300 views
• 1:19:45
  and stuff like that. And, and now to see you guys,
• 1:19:47
  2000 people in the live stream, it's, it's pretty insane.
• 1:19:50
  It's a tribute to you guys's hard work and effort, man.
• 1:19:52
  It's it's good to see. I appreciate it, David.
• 1:19:54
  I mean, it's really kind words, dude.
• 1:19:56
  And you know, I appreciate your support in the early days.
• 1:19:59
  Someone's asking, are you going to have merch at Bitblock?
• 1:20:02
  Boom. If we have any left.
• 1:20:06
  Wainakis is signaling he's nodding.
• 1:20:08
  Yes. So I'm gonna, I'm gonna.
• 1:20:10
  Yeah, we should. We should definitely bring some
• 1:20:13
  if there's any left. Exactly.
• 1:20:14
  They are selling out pretty quickly, guys.
• 1:20:16
  So. But anyhow, David, it's been an
• 1:20:19
  honor having you on the show. One last thing, one last thing,
• 1:20:22
  David was telling us, you guys might be doing a very cool event
• 1:20:26
  in Vegas. So let's plug that and maybe the
• 1:20:30
  people in the audience want to go hang out there.
• 1:20:32
  Yeah, so our our group triple elite memes on on Twitter or X
• 1:20:37
  or whatever. So every conference and the
• 1:20:40
  first one is that bit block boom.
• 1:20:42
  But we do like these Bitcoin fight clubs where, you know, you
• 1:20:45
  get in there with the referee, we have insurance and all that
• 1:20:47
  good stuff and make sure nobody gets hurt.
• 1:20:49
  And it would basically position these fights together.
• 1:20:52
  And if anybody wants to, you know, get in there and mix it up
• 1:20:54
  with someone else. You know, we got about four
• 1:20:57
  fights on the on the card right now, but aside from that, we're
• 1:21:00
  also going to bring in some like UFC fighters, some pro fighters
• 1:21:03
  and they're going to come in and do like a little seminar.
• 1:21:05
  So even if you don't want to fight per SE, you can check out
• 1:21:09
  the fights or you can also come in and just like, you know, roll
• 1:21:12
  like jiu jitsu, we're going to do like a little bit of striking
• 1:21:15
  and stuff like that. It's for all levels, you know,
• 1:21:17
  just get your feet wet, just kind of enjoy it.
• 1:21:20
  You know, I trained jiu jitsu regularly.
• 1:21:22
  I swear by it. It'll change your life and it's
• 1:21:25
  a good thing to do. It's, I think it's a, it's a
• 1:21:26
  Bitcoin way of life for sure. Let's go.
• 1:21:31
  And also I, I went to the first one.
• 1:21:33
  The first one was super tight, is super fun.
• 1:21:36
  But hey, David, you said you might have a website.
• 1:21:38
  Do you have that? Maybe we can drop that for the
• 1:21:40
  chat. If not, I guess just follow you
• 1:21:42
  on Twitter, plug your Twitter and I'm sure you'll repost that
• 1:21:45
  and people can keep in touch with that.
• 1:21:47
  Yeah. So it's at bit Fight Club is the
• 1:21:50
  official handle. I don't I don't think there's a
• 1:21:52
  website per SE, but we just say sign the waiver.
• 1:21:55
  So if you come in and you're going to fight, you know, you're
• 1:21:57
  going to sign the waiver and stuff like that.
• 1:21:59
  And that'll be that'll be pretty cool.
• 1:22:00
  And then I'm I'm at I am David X on on Twitter as well.
• 1:22:04
  So feel free to DM me and if anybody wants to purchase
• 1:22:07
  anything, I'll give you like a 4050% off code or whatever.
• 1:22:10
  You know, I just I like to support Bitcoin, that's for
• 1:22:12
  sure, 100%. I don't want to make too much
• 1:22:13
  money out, you know, Like I don't want it to be a shield
• 1:22:15
  type of thing, you know? I appreciate it.
• 1:22:18
  Yeah, man, David, David, David is David is the go when I had
• 1:22:23
  when I had when I had my my wife and I had the baby, we just got
• 1:22:27
  a bunch of baby merch that David just sent.
• 1:22:30
  No, no warning, no nothing. And you know, it was very, very
• 1:22:34
  kind. So David is extremely generous
• 1:22:37
  and his, his his clothing is extremely, extremely high
• 1:22:41
  quality. So I can't recommend it enough.
• 1:22:44
  Go to representltd.com. And of course, if you guys want
• 1:22:47
  to support simply Bitcoin, check out the new merch drop.
• 1:22:50
  But yeah, I, I, I appreciate you joining us on the show, David,
• 1:22:55
  And thank you so much for supporting us, man, for so long.
• 1:22:58
  It really means the world to us. Yeah, you guys are, you guys are
• 1:23:00
  awesome, man. The fact that you guys keep on
• 1:23:03
  on the grind and stuff is just, I know what I know how it is.
• 1:23:06
  It's a tough grind and getting that hope you're out there all
• 1:23:08
  the time, but it's what we need is Bitcoin.
• 1:23:11
  Appreciate it one one day at a time.
• 1:23:13
  One day survive to find another day, right?
• 1:23:16
  That's how it goes anyways guys appreciate everybody for tuning
• 1:23:19
  in March 21st 2025. I'm your Co host, Nico the host
• 1:23:23
  today's Optimus Fields in the host chair and of course our
• 1:23:26
  special guest David X Go check out represent ltd.com get some
• 1:23:33
  of the best merch around some of the best clothing extremely
• 1:23:37
  comfortable. They have everything, hoodies,
• 1:23:40
  T-shirts, sweatpants I love. Big fan of the sweatpants.
• 1:23:44
  They got everything. Just check out their
• 1:23:46
  collectionrepresentltd.com. Anyways, love you all everybody.
• 1:23:50
  Have an amazing weekend and we'll see you next week.
• 1:23:52
  Take care, everybody. Today's episode was brought to
• 1:23:55
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:23:59
  mission to enable financial independence.