Latest / Simply Bitcoin / Canadian Government Launches Massive Bitcoin Marketing Campaign | EP 436

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Canadian Government Launches Massive Bitcoin Marketing Campaign | EP 436 · Simply Bitcoin

0:00
I don't believe since we shall never never good money against
0:04
before we take something out of the hands of governments.
0:08
Welcome back everyone. We're simply Bitcoin.
0:10
We break down the news. The daily failed mean review.
0:13
Software releases Hardware releases and the websites by
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plebs. We are diving into the numbers.
0:20
Let's do it. Nico brought to you by Bitcoin
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At the time of this recording. The block height is 720 4353 the
0:54
Bitcoin price 30, 8180 chain, rewrite day, 694, total Public
1:00
lightning capacity, 3450 6.59, Moscow time, 26:19 blocks to the
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having a hundred fifteen thousand, six hundred forty
1:09
seven and Samurai whirlpools unspent capacity that is 4340
1:17
8.1 and that service is a coin or collaborative spend service
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Nico, the numbers, the numbers dude.
1:29
Frozen in time. I feel this week a gang, dude,
1:33
we've been channeling. We've been on this accumulation
1:36
right? Literally going sideways
1:38
sideways for a year so thank you guys for putting up with us
1:42
because yeah, dude, you want to hear a depressing stat.
1:45
We were at the same exact price last year, June 20 21, same
1:49
price same price. That is dead hundred and three
1:53
Nico 103 days since the all-time high.
1:55
I every time every time I think of that I always think of that
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meme. Mmmmm with, with Tom Hanks in
2:01
Castaway right writing on the wall, you have to now that you
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mention it, I have to have to put it in the show.
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Know we are going to put it in, but yeah, it's totally that, you
2:11
know, and it's just like on there.
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It just shows the, you know, the no.
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Yeah, the countdown to count down.
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Thats hilarious. Yeah.
2:16
Like counting with the with the yeah.
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Okay. That's absolutely hilarious.
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Yeah, it's it's brutal. But look, they don't call it.
2:22
The Bitcoin roller coaster, for nothing, but thank God because
2:26
dude you know, this great Reset that is happening, whether you
2:30
believe in it or not, right? Is giving us plenty of source
2:33
material. And speaking of, you know, the
2:36
great reset and everything that's going on, let's go back
2:40
to Canada, shall we? Because even more clown, world
2:43
news has come out and let's pull up, Castro, Trudeau.
2:47
And let's see what he's doing up there.
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And just because he looks like it could be his son doesn't mean
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anything. Yeah, right dude, it's so it's
2:57
so weird. It's weird.
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Weird to say the least. Okay, so why are we covering
3:01
this during the numbers? Because we have been covering
3:04
this during the numbers. And again, this is the best
3:07
marketing Bitcoin has ever received.
3:10
It's not just a speculating that you're actually starting to hear
3:14
rumbles from Canada. I saw a couple tweets right
3:18
saying, listen, my father, never liked Bitcoin.
3:21
Now, he converted all our life savings into Bitcoin.
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A lot of Canadians are being scared by this because, you
3:27
know, they donated to Truckers and essentially Trudeau made a
3:31
retroactive decision where when they donate to the trucker's, it
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wasn't illegal, but it became illegal after the fact and
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they're retroactively going back in time and essentially
3:43
persecuting people and seeing whether you donated to the cause
3:46
or not very strange. But anyways, let's see what he
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says, when you know, let's just check out what he has to say.
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We'll have discussions about it and then I have some moments in
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history that this Compares to, and we'll talk about this
4:01
community in Liberty. I can't imagine that anyone who
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votes. No, tonight is doing anything
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other than indicating that they don't trust the government.
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To make incredibly momentous and important decisions at a very
4:23
difficult time. Do you trust me?
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It's like, yes, that is exactly what fuck?
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No, it's whore. Listen, let me ask you
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something. When has the government ever?
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Got something right there. Not incentivized to.
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They don't have a profit motive. So it's like, dude, it's just
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absolutely Bonkers. And, anyways, I can't we I
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didn't say we told you so but that's exactly what we said we
4:48
told you. So it's like with the temporary
4:50
inflation, right? When they when a government says
4:53
temporary powers that never ends up being temporary.
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Like you know the Patriot, act's write, all these things, right?
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That are supposed to be temporary.
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The the temporary convertibility of US dollars to Gold Richard,
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Nixon 1971, we're still waiting for that.
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We're so when waiting for that temporary measure, this came out
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over the weekend. Trudeau government moves to make
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expanded surveillance Powers over Financial As actions
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permanent right anyways, article goes on to say that you do
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government financial war. Against the trucker's has been
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covered at length, but one underreported aspect of the
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broader assault on Canadian. Civil liberties is the effort to
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bring cowed crowdfunding and payment survivors, two of the
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most predominant routes for financial transactions on the
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internet. Under the permanent control of a
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centralized government Authority.
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Isn't that bass? Bass way of a social credit
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system. Right?
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If I don't like what causes, but political causes you donate to.
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I essentially ban you and look, let's be frank here.
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These protests were peaceful, right?
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And we have something to compare it to and we which were you know
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the black lives matter protest what they had Merit to those
6:03
protests as well but you had a totally different reaction from
6:06
the state from governments, right?
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And those protests and ended up being violent, they burned down
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a bunch of stuff but those are okay and these protests, which
6:15
were Awful right by and large you, do you saw nothing?
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It would have popped up on social media as soon as it got
6:21
violent, because they would have fit The Narrative of the
6:23
government of The Narrative of the state, right?
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But we saw no violence, but these are considered terrorist
6:31
action. So it's very strange.
6:33
It's a very convenient excuse in my opinion reviewed, very, very
6:36
carefully. The tools at the disposal of the
6:38
federal government and we use all the tools that we had prior
6:41
to the invocation of the emergencies act.
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And we determined that we needed some additional tools.
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Oh, Really. Now, some of those tools, we
6:48
will be putting forward measures to put those tools permanently
6:51
in place. The authorities of fintrac, I
6:54
believe, I do need to expand to cover crowd sourcing platforms,
6:58
and their payment providers. So again, right permanent
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emergency Powers. Now, what in history does this
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compare to? I'm not even being hyperbolic,
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right? This was the enabling Act of
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1933. This was when, you know, a
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predominant. You know, German politician of
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the 1930s and 40s. This is the emergency act that
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he used to consolidate power over journey and gain total
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control, right? And let me just read you a
7:29
little bit of it. Is the enabling Act of 1933 was
7:32
a law that gave the German cabinet.
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Most importantly, the chancellor the powers to make and enforce
7:37
laws without the involvement of the reichstag or why murder
7:41
president. Paul Von Hindenburg critically.
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The enabling act allowed the chancellor to Past the system of
7:47
checks and balances in the government and the laws created
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under, it could explicitly violate individual rights,
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prescribes under the Weimar Constitution, what does that
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sound familiar to? I'm not being hyperbolic.
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And again, when that act was ratified, it was 1933.
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The atrocities of World War 2 started happening really in the
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late, 1930s, early 1940s. That's when, you know the
8:11
Holocaust and all these terrible, terrible things
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happen. It Took six to seven years,
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right? So this is the beginning.
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We're essentially Trudeau is declaring himself, a dictator
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completely bypass alleged the Congress of Canada and
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essentially saying, hey, we don't like certain transactions
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because of certain political beliefs if you want to make an
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analogy, right? We don't like certain religious
8:38
people because of certain there certain religious beliefs and
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again, first they froze, their bank accounts, I'm not even
8:45
kidding. I think that's exactly what they
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did in Germany in the 1930s and 40s.
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The first one of the first things that they did, then they
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labeled their businesses as others, and then they segregated
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them. And then eventually they
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annihilated them now, is that going to happen in Canada, who
9:00
the f knows. But I'm just pointing out that
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these steps of totalitarianism have happened in the past
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before. And again, humans, like to
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believe that this time is different.
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Now it's not it's the same things.
9:14
Look the Of checks and balances that, at least the United States
9:18
was enabled was bread because the founding fathers understood
9:22
that absolute power corrupts, absolutely.
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So, the system of government was designed in a way where the
9:28
executive branch wouldn't have too much power over the
9:31
legislative branch wouldn't have too much power of the judicial
9:33
branch and it kept it separated, right?
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But what you're seeing from True, do what you saw Overture
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do, right where he signaled that he wants to make these actions
9:43
permanent is essentially saying. Yo, listen, fuck all those
9:48
checks and balances. I know what's best?
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Me the all-knowing dictator. I know what's best for my people
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and in the process, he essentially D banked, you know,
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I don't know how many people so far, right?
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And essentially other them from society, right?
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They can't even transact. The good news, is that this
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time? Unlike the 1930s, right?
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We have a way out as as Humanity, right in that way.
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Out is Bitcoin. And there's a reason I wanted to
10:15
talk about. About this during the numbers
10:16
today and this is really good news, right.
10:19
This is a this is nunchuck which recovered they had a badass
10:22
response to you know the emergency act listen we don't
10:25
hold any private Keys. You can go you guys go fuck
10:27
yourself. This is one of the tickets that
10:29
they got half and half of our new support tickets are about to
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our about, how to move Bitcoin off exchanges.
10:37
This is how we win for those asking for tutorials.
10:40
Please check out BT sessions video will add more educational
10:44
content in the coming ways. You awful.
10:46
Absolutely true. And again, this is what we've
10:49
been saying the best advertisers best marketing for Bitcoin are
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the say, right, and their censorship, right?
10:55
And people not add of speculation, but out of
10:58
necessity, they're going to look for another solution.
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And that's exactly what you're seeing in Canada.
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Doesn't matter what age you are right when it comes to, can I
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put food on the table or not? You're going to start to ask
11:11
questions, you're going to start looking for Solutions, and
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that's exactly what's happening. And Canada.
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Now, now my expectation, Phil, is that I think that this is
11:20
going to get worse. I think that Canada was
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essentially a testing ground for what's to come, right?
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How far could they push this envelope before?
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People push back and these are very, very scary time.
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My friends, I'm happy. I live in in the u.s.
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I'm happy. I live in a red State and these
11:39
are amazing times to take your Bitcoin into self custody.
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Take your power back. Right?
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Don't Don't don't put yourself in a position where the state
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could potentially block your transactions because of certain
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political beliefs. You have this is not only
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happening in Canada, this already happened in the u.s.
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around the January 6 protest, whether you agree with it or
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not, right, because the country is literally divided half way,
12:03
half the country believes, it's an Insurrection.
12:04
There's Merit to that half the country believes the election,
12:09
some some questionable things happened during the election.
12:12
So they felt like they had to protest in the Test one a little
12:16
bit too far, right? Those are the two opinions in
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the country. A lot of people that went to the
12:22
protests that weren't violent had their accounts Frozen and
12:27
other and put on the no-fly zone and whatever.
12:30
So again you're having government they've never done
12:33
this before, okay? They've never done this before
12:36
where they're literally freezing and cutting people out of the
12:39
financial system completely because of certain political
12:43
beliefs that they have right now.
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Aren't Fringe political beliefs. These are a large portion
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whether you agree with them or not.
12:50
A large portion of the population.
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Have see certain political beliefs and one side of the
12:56
political aisle is essentially saying those are not acceptable.
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This is exactly what happened in Germany in the 1930s.
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And this is exactly what happened to some of the worst
13:06
atrocities that happen in mankind.
13:09
This was exactly the type of thinking that led up to that.
13:12
Don't kid yourself. This time is Is different human
13:16
beings have not changed fundamentally.
13:19
The only thing that has changed is technology.
13:21
It's the only thing. Anyways, Phil, man, you just
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summed it all up right there. I mean, that is like, every
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single point. It's fantastic.
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And you know what? Great job putting together.
13:33
You know, the those two stories, like the only piece that I
13:36
really have to add is this that speech that he gave about
13:40
trusting the government, honestly scared the crap out of
13:43
me for real and the whole time that We you know that you were
13:46
explaining all this all I could think about are my parents that
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are there and you know even though these you know, my
13:51
parents are not by any shape of the you know, imagination
13:55
activists or anything like that, you know, it's still to your
13:58
point censorship, you know. Right now we we think that what
14:04
we're doing isn't wrong and we're not being censored but we
14:07
have no idea how these rules change.
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He retroactively went back really like you said, right?
14:12
When they donated it, there was nothing wrong with it.
14:14
And then all of a sudden, there was As and now all of a sudden
14:16
because of something that you did in the past, all of a sudden
14:18
that's it. You are, you are now a
14:20
non-citizen, I mean, that we saw this on Twitter, we saw some
14:24
people explaining that they became non-citizens.
14:27
All of a sudden they couldn't feed their families anymore,
14:30
anything like that that the people in their families, also
14:33
could no longer use their accounts.
14:34
I mean, this is that's freaky, that is freaking scary stuff.
14:39
So when when you see, you know, when you see Justin Trudeau,
14:42
give a speech the specifically I'm sorry, you know, the way
14:45
that Coming across is that he's actually bullying.
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Okay. Interestingly enough, and he's
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actually kind of, you know, I would even suggest, you know,
14:54
kind of underhandedly threatening, you know, to
14:57
because he's essentially what he's doing is that he's
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painting, the people who don't agree with him in a specific
15:04
light and the thing is, is that the government's have already
15:07
shown time and time again, that they can't be trusted.
15:10
We already saw with the mismanagement of what happened
15:13
with covid. We see it all the time with the
15:15
mismanagement of our funds and the poor service that we get for
15:19
the very expensive taxes that we pay.
15:22
I don't really care whether you're in Canada and the US, if
15:25
you're paying taxes, I guarantee you that you're paying more than
15:29
the actual value that you're getting.
15:32
So that that's already been proven and of course, the money
15:35
printer, right? They can't stop money printing.
15:37
They can't stop funding their bullshit because it's the only
15:40
thing they know how to do. They don't know how to actually
15:42
create. You know, this is what I've said
15:43
in the past, if the government was a business, you would never
15:45
buy there. Fuck because they don't know how
15:47
to earn a buck. They don't know how to be
15:48
profitable. So anyways it's no 100 scary
15:52
shit. I'm laughing, but it's scary
15:53
shit for real. It is.
15:56
And you know, what's scary about all this Phil is that it started
15:59
with two weeks, you know, it's a flawed in the curve and it ends
16:03
with, you know, the thing that has happened recently and if you
16:06
think this is going to stop look at history, my friends.
16:11
This doesn't stop here. This gets worse before it gets
16:15
better. Better.
16:16
It I'm telling you because it doesn't stop here.
16:19
They're what they're doing is they're pushing the envelope
16:21
there. Seeing how far they could push
16:23
this, how far could they get away with things?
16:27
And unfortunately right out of all places it's happening in
16:31
Canada right ever would have thought it would happen in
16:33
Canada, right? But again why are we talking
16:36
about this? We talk about this because we're
16:38
a bit coin, show you Empower yourself, you protect yourself,
16:41
taking Bitcoin into self custody that gives you the power to not
16:45
only With your money but also your feet, if it's not in self
16:48
custody, you're essentially trusting someone else and now
16:52
you're trusting the state apparently, because they're
16:54
freezing things left and right, crazy, crazy stuff.
16:56
But anyways, Phil it's time for the daily fail.
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In this fail, we're going to start off with to light fails
17:21
and then we're going to dive into some serious shit.
17:22
Culinary. Here we go.
17:24
Alright, so we've been, we've been to showing these on the
17:27
meme review as Nico pointed out before we started recording but
17:31
this is not about the image. This is about what's on the
17:35
image. If you take a look at this
17:36
receipt, there's a special little thing right here called
17:39
temporary inflation, fee to Dollars, how temporary is that
17:44
fee and how I'm not gonna say that I've seen them place a lot
17:49
of things on bills, okay? And you never told me, never
17:53
taken them away. Okay, just pointing that out.
17:56
Anyways, anyways, let's move on. Okay, this is something I think
18:00
Nico that we were maybe gonna going to have to Riff on because
18:04
this is an interesting one. Here we go.
18:06
This is a tweet by Kelsey Hightower minimalist has a lot
18:11
of followers. I personally don't know who he
18:13
is, but this was a very interesting.
18:15
Tweet about Bitcoin. So here we go.
18:17
Let's say the Bitcoin dream comes true and we all get the
18:20
freedom to transact. Does racism oppression and the
18:24
abuse of power disappear or does it simply use Bitcoin to fund It
18:28
Solar I get before? Yeah, exact so hold on a second
18:31
so I gave a response. He got a lot of responses,
18:33
better responses than mine but I'll read mine anyways.
18:36
So here we go. What matters is that the
18:38
artificial money printing machine is no longer being
18:41
directed and used to infinitely fund.
18:43
These behaviors. We need to start somewhere.
18:45
Money is the base of our trust and communication fix the money
18:48
first. And this is kind of the point,
18:51
right? I see this a lot this bullshit
18:54
argument of this Bitcoin fix racism this, Bitcoin fix this.
18:59
No, no, it doesn't, listen Bitcoin, doesn't fix those
19:03
things. What it does is it puts our
19:06
monetary base on an even footing every single person gets the
19:12
same opportunity at The ability to transact without censorship
19:20
and to retain the value of the money that they've earned,
19:24
everyone gets the same opportunity, that's the
19:27
difference. And there's no Central Authority
19:29
that's going to sit there and print the money or censor your
19:33
transactions, which in other words rigging the playing field,
19:37
okay? That's really what they're
19:38
doing. So for me this this argument is
19:42
very disingenuous and it bothers me a lot because People are
19:46
going to look at it and they're and they're going to say, well,
19:47
do you know that? That could be true.
19:49
It doesn't fix those things. And then you start to and then,
19:52
that's believe it. Or not.
19:53
This is how you end up falling for shit coin or narratives,
19:56
right? Because they start to make you
19:57
think that somehow these types of currencies will fix these
20:02
higher-level problems. Make no mistake, we need to fix
20:06
the base problem, we need to stop the ability of governments.
20:10
Number one to control where the money goes and who it flows to
20:14
in order. To create and Propel these
20:17
narratives that are all dividing us, okay?
20:21
That that it starts with the money, we fix the money first.
20:26
And then, we can start to tackle these other issues.
20:29
We've been working on these issues for how many freakin
20:31
years they're not going anywhere, okay?
20:34
All they're doing is morphing and you have people that
20:38
literally their entire lives are making money off of gas lighting
20:43
and working in these. Who's there?
20:45
Are people who are professional activists.
20:48
This is what they do for a living.
20:50
Yeah, but tells you right there that there's something wrong,
20:52
you shouldn't always have to be fighting for something.
20:54
But we've made this possible with our Stupid Money printing
20:58
machine and the fact that we can consolidate power in a few hands
21:02
and they can direct the energy that can direct the noise that
21:05
can direct the news anywhere they want.
21:08
It's just, it's so it's so frustrating.
21:10
So, I think that Kelsey might actually end up figuring it out,
21:13
but I mean, it's It's a frustrating question doody.
21:17
It's a centrally planned, you know.
21:19
And yeah dude I think you know I think he has a lot of Merit to
21:23
his tweet, but I completely agree.
21:24
I think, you know, he's not addressing what the actual issue
21:28
is, right? And this goes back to Fiat
21:30
Politics as well, right? It's like you think you're going
21:32
to vote your way out of this, my friend.
21:34
He's like you, you okay? Fine.
21:35
You vote for the party in the life, you vote for the party on
21:37
the, right? It's the same shit ruin the
21:39
party. In the right gets in power,
21:41
they're gonna have a bat and they're gonna go after the
21:43
people on the left and then what a pity party on the left gets
21:45
it. Are they going to get a bat and
21:46
go after the people on the right?
21:48
It doesn't fix the base issue. The base issues that the money
21:51
is fundamentally broken. It's stealing from everybody.
21:54
It's redistributing from the lower and middle classes, to the
21:58
wealthy Elite that have the means to save in real estate and
22:02
equities and also redistributing to the government, right?
22:06
So that they could fund whatever social program and whatever War
22:09
they want to go on, right? It's absolutely Bonkers.
22:13
You could have said that was the best.
22:15
System, that Humanity came up with until Bitcoin.
22:19
And now it's obsolete, and I think from the perspective of,
22:23
you know, wearing the bit coin lands, and from the perspective
22:25
of being a Bitcoin, or you're seeing that system, you're like,
22:28
that's Antiquated. That's broken.
22:30
We could do it much, much better, right?
22:33
So, again, this is the transition that we're living
22:35
through and we're just in the very beginning of it.
22:38
Anyways, Phil, what's the next fail?
22:40
All right, here we go. So one last thing before we move
22:44
on to this so, Of satoshi's most famous quotes.
22:47
He says, you won't find its answers to political issues and
22:51
Bitcoin and I completely agree. But I think that a lot of the
22:54
political issues that we have today, are exacerbated by the
22:58
fact that the money is broken, right excite.
23:01
It doesn't exactly, doesn't change that.
23:02
People are going to be racist. It doesn't change that they're
23:04
going to be taught terrible information.
23:06
It is, it doesn't change any of these human.
23:08
Those particular human behaviors.
23:10
What it does is it aligns our Ascent of model our incentive
23:13
model, okay? And it takes the money.
23:15
Printing out of these people's hands, which clearly can't be
23:18
trusted any it insulates. Capitalism from parasites,
23:21
right? Yes, I think, you know, that's
23:23
the way of putting it. Yes, I like that, I like that.
23:27
Okay, anyways, all right, we're moving on.
23:29
Here we go, some shit. Coiner e, we are not blocked.
23:31
We are not blocked. Anyways.
23:33
So here we go. This is a tweet from a Bitcoin.
23:36
Rothbard the irony I bet he'd meant to write the irony but he
23:39
wrote The Iron. Anyways.
23:40
The iron of this tweet and having the ultrasound money
23:44
emojis in Handle, dot, dot dot. Okay.
23:47
So let's go take a look at the tweet that he is talking about.
23:51
Here we go. This, by the way, has to do with
23:53
their whole upgrade, that's coming along, right?
23:56
The merge Splurge Verge and all that fun stuff.
23:59
Well, guess what? We're about to start diving into
24:02
the merge anyways, here we go. Okay, so super Fizz dots shit
24:06
coin says, at coinbase and a kraken support, hold 78k out of
24:11
296,000 validators. He's on the etherium beacon
24:18
chain and they're running pry. Labs pry Labs is a, is a
24:23
software company that manufactures the one of the
24:25
clients, okay? One of the quote unquote with
24:28
clients, anyways, without any published plans to switch to a
24:32
non-majority client. Now we're going to find out why
24:35
this is important there. Radio silence on an issue that
24:37
impacts your funds on our Network should infuriate, you,
24:41
okay? Now, keep in mind, right, this
24:43
shit coin is moving away. A from proof of stake.
24:47
Sorry, from proof of work to proof of steak or so, they claim
24:51
to have been doing for a very long time.
24:54
Okay, so okay, ho ho hold. Okay, hold on a sec.
24:57
Yeah, let that last paragraph reverse so much for that last
25:01
sentence there. Radio silence on an issue that
25:04
impacts your funds in our Network should infiltrate.
25:08
So this is a fury, you okay? So this is democratic money.
25:13
Okay, mob controlled. Knee, right?
25:16
This sounds exactly like the political system we have today.
25:19
All the people in power have too much power and they're not
25:21
listening to you. This is bad, right?
25:23
It's the same thing. Bitcoin levels, the playing
25:27
field so there isn't a crack in there.
25:29
Isn't a coinbase that have significant influence over the
25:32
network. That is the entire fucking point
25:36
and I'm telling you as government start pulling more
25:39
Canada's write, this this decentralization will be more
25:44
and more important. You today, it might be
25:47
irrelevant because you might be speculating on eith, but if you
25:50
really do want to separate the money from State, you want to
25:53
centralize money, which aetherium clearly is not Phil.
25:57
Okay. Yes, exactly.
26:00
Very well said and very important.
26:03
Now why is this important, right?
26:05
Because you see the manufacturer of the software when it comes to
26:10
proof of stake. Well, guess what?
26:13
They can then if they are Are a majority, right?
26:16
If the majority of the clients are all that piece of software,
26:20
they can technically control the steak, right?
26:23
A malicious. Malicious actor can come along
26:26
and control the steak. Anyways, through the software,
26:30
if the majority of them are running the same thing.
26:31
Anyways, let's continue on here. So we've got we've got a
26:36
response yet from DC investor dot shit coin.
26:38
Unfortunately depositors have no true leverage until tokens
26:41
become with drawable, I guess, exchange stagers can write
26:45
There's to them. So I'll make sense in a minute.
26:47
Okay? Because you see, if you guys
26:50
remember, a couple of a few episodes ago, we talked about
26:53
this Beacon chain, right? And we explained how there's
26:57
over thirty three billion dollars worth of eith, that's
27:00
locked into it. And let's just take a quick look
27:02
for the people who don't remember more than thirty three
27:04
billion worth of eith or eight point seven million etherium
27:07
tokens, have been locked into e 2.0, the locked ether can either
27:11
be withdrawn nor transferred until eat. 2.0 goes live and a
27:17
hard Fork, which has not been written is required to initiate
27:20
the withdrawal. Their money is completely stuck
27:24
there. Before we dive into this, the
27:26
beacon chain to understand this better.
27:28
I thought that this comment was fantastic.
27:30
It's amazing. You can understand all of this
27:32
and still not be a Bitcoin Maxie.
27:34
Okay. So they're sitting there and
27:36
they're actually asking the because keep in mind, the
27:39
exchanges if you understand the tweet that we started with.
27:42
Okay, remember what I said, whoever The majority of the
27:46
stake can technically be a malicious actor to exchanges.
27:51
Hold 78k of the validators out of the 300,000 right now that's
27:58
only two exchanges. They sound like make the analogy
28:01
right? Which is you have two exchanges
28:03
which are essentially Banks, right?
28:06
Up that have more influence over the network.
28:09
What does that sound like to? You exchanges that are holding
28:13
other people's money. Banks are holding other.
28:15
Paul's money, right? But they have tremendous
28:17
influence over there. Said networks.
28:20
It's the same shit. No Innovative millyar.
28:22
No innovation happened. Bitcoin separates the monetary
28:26
policy away from human beings. So if I'm Michael sailor and
28:29
I've 122,000 Bitcoin and I'm and I'm a pleb and I hold .01
28:35
Bitcoin me and Michael sailor have the same amount of power.
28:38
The Bitcoin Network sees us the same in a proof of stake system.
28:42
That is not the case. The ones that holds more Take in
28:46
the system get to dictate more of its rules and that's exactly
28:50
the system we have today. No innovation is happening.
28:54
It's vaporware. Anyways.
28:56
Alright, so speaking of vapor where we're going to start
28:58
discussing the, the first step here, the the merge.
29:02
So here we go. The beacon chain, right?
29:04
This is the new proof of stake, chain, that a theorem is going
29:08
to move to, okay? And they haven't so far, they
29:11
haven't and there's thirty three billion dollars as we just
29:14
showed that is Act and can't move and the code to actually
29:18
withdraw. It still hasn't been written yet
29:20
but anyways or maybe it has now at this point, but who cares?
29:23
Anyways, let's let's dive into this because Nico this gets even
29:26
shadier and dumber than you think and will drive your point
29:30
home even further about totalitarianism and tyranny.
29:33
Anyways, let's proceed the beacon chain.
29:36
Beacon, chain is a proof of stake blockchain currently runs
29:39
in parallel to a theory, but it doesn't actually really run.
29:41
You could just dump your money there and then it doesn't move.
29:44
But, anyways, the to Will And beat merged together, the
29:47
existing main that clients, execution clients will continue
29:51
to host the etherium virtual machine and validate and
29:55
broadcast transactions, but we'll stop participating in
29:58
proof-of-work. Mining and relinquish
30:01
responsibility for coming to consensus on the head of the
30:05
blockchain. Instead, consensus will come
30:07
will become the responsibility of the consensus clients.
30:11
And these are the clients that that initial tweet the Tweeter.
30:15
ER is so worried about that bundle transactions from
30:18
execution clients together with information required for
30:20
consensus into Beacon blocks, which then form the beacon
30:24
chain, minors will be replaced. This is the another key by
30:28
validators, who deposit ether into an etherium contracts.
30:32
Taking this ether acts as collateral incentivizing.
30:37
Good behavior. I want you to think about that,
30:39
right? Why is it incentivizing good
30:41
behavior because they assume that a person won't do something
30:44
malicious. The network, the more that they
30:47
have staked, right? Because they want to keep the
30:48
network alive, but you see it's nefarious.
30:51
It doesn't really incentivize good behavior.
30:53
What? It incentivizes is coercion
30:56
because now, you want to go and find the other people that have
31:00
as much influence on the network and you can all work together,
31:03
but I digress. I'm sure that they thought of
31:05
all these things, here we go. Validate our duties, good
31:08
behavior for a validator means participating, in validating
31:11
Beacon blocks and they receipt that they receive from peers and
31:13
voting on their View. Oh, of the head of the chain,
31:16
the blocks. They receiver, valid the
31:17
validator a test to them, effectively voting for them to
31:20
be added to the blockchain. Occasionally, a node will be
31:22
required to propose a new block, which other validators can
31:25
attest do. Where there are multiple Forks
31:27
of the blockchain. The one with the greatest,
31:28
accumulation of attestations over its history is identified
31:32
as the correct one. Just total gibberish.
31:35
Occasionally, a validator, will talk participate in a sink
31:38
committee. A sink committee is a group of
31:41
512 randomly, chosen, validators that sign block, Headers, so
31:45
that the light clients can retrieve validated blocks
31:48
without having to access the full historical chain or the
31:51
full validator set. That number one sounds like
31:54
something that can be completely coerced.
31:56
It sounds like something that can be corrupted and who wrote
32:00
this algorithm, that randomly chooses, the 512 people there.
32:03
And I believe there is noting involved its Democratic
32:07
Democratic money, Democratic money, is garbage.
32:10
We've been having we've had Democratic money political
32:13
money. It's garbage.
32:15
Each Bitcoin does there's no voting involved.
32:17
There's no democracy involved. Bitcoin is not a democracy.
32:20
The rules are set in stone. You cannot change them.
32:23
That's a feature, not a bug anyways.
32:25
I'm so his wife. I'm this off and now it's okay.
32:27
This is and it's good that you explain that.
32:28
That's why I find this all so amusing, you know, because
32:31
they're essentially, what they're doing is that they're
32:34
selling you the sizzle, they're just trying to sell you an
32:37
illusion, okay? Like that's all it is.
32:39
It's an illusion. And if you actually sit there
32:41
and ask some basic questions at all, just falls apart.
32:44
Anyways, here we go. Justification finality, I do
32:47
have to explain this before we move on.
32:48
So bear with me, the beacon chain sets the Rhythm for the
32:51
network. This rhythm is organized into
32:52
two units of time. Slots and epochs Slots are
32:56
opportunities for blocks to be added to the beacon chain and
32:59
they occur once every 12 seconds slots can go unfulfilled, but
33:03
when the system is running off to Mele blocks, are added in
33:05
every available slot. Epochs are units of 12 slots,
33:11
slots and epochs set the pace for the blockchain.
33:13
So there you go. You can figure out that an Epoch
33:17
is 12 seconds x 32. So there you go, just keep that
33:21
in the back of your head while I'm reading to you the rest of
33:23
this garbage. So here we go when there's an
33:26
issue. Okay, they've got something
33:27
because I'm not going to go through all of the terms but
33:29
when there's an issue that there's this one mechanism here,
33:31
called an inactivity leak, which is going to come into play a
33:34
little bit later on. The beacon chain, has gone more
33:37
than four epochs without finalizing.
33:40
An emergency protocol called the inactivity leak is activated.
33:44
The Name of the app in activity, leak is to create the conditions
33:48
required for the chain to recover finality.
33:53
So that's interesting. So people can cause a situation
33:56
that would cause this and then this piece of code gets
33:59
triggered automatically based on those conditions.
34:02
Now, we're going to start to explain why they're getting so
34:05
worried, right? Because this is the client
34:07
diversity, right? Because of all the staking
34:09
that's involved, you cannot have all the same client software.
34:12
You need to have multiple pieces of client software.
34:14
So here we go. The Client diversity risk
34:16
scenarios with even distribution of validators across multiple
34:19
clients, the consequences of attacks or bugs that exploit
34:22
specific clients is drastically reduced whereas single client
34:26
dominance acts as a risk multiplier.
34:30
So just think of all the bullshit that the that the
34:32
ethers have put people through for so many years.
34:35
And now, here they are being being essentially, they're going
34:38
to get rug pulled by their own clients.
34:40
Anyways anyways let's continue scenario. 1 corrupted client,
34:43
has less than a third toe. Staked ether.
34:46
This scenario, confers maximum resilience to the beacon chain
34:49
because two-thirds of the total staked ether is still making
34:52
correct attestations, allowing the beacon chain to finalize, as
34:56
normal scenario, to corrupted client, has greater than a third
35:00
total stacked ether. This scenario is far more
35:03
problematic because less than two-thirds of the total State
35:06
ether is making correct. At the station's.
35:09
There can be no supermajority. This means the beacon chain
35:12
cannot finalized and the inactivity.
35:15
Petit leak will be activated scenario 3.
35:18
The corrupted client has half total staked ether, and when
35:22
they're talking about a corrupted client, make no
35:23
mistake. They're also talking about
35:26
malevolent actor. Anyways, this scenario
35:29
potentially leads to an unrecoverable fork in the beacon
35:32
chain, if the client with a consensus bug Forks off onto its
35:36
own chain. Neither the original, nor the
35:38
new Fork, would be able to finalize because both would be
35:40
missing about half of their validators and would both
35:43
activate the Activity leak. And in scenario, for the
35:47
nightmare scenario, the beacon chain because the corrupted
35:50
client has a supermajority. And is able to finalize its own
35:54
chain genes. The nefarious actor can just
35:56
finalize all the transactions and move on incorrect
35:59
information. Would then likely be cemented
36:01
into a therians history forever. The only viable mitigation to
36:04
the situation is for the affected validators to withdraw
36:08
their steaks and exit the chain. Now, check this out.
36:11
The inactivity leak would be activated by the large Their
36:15
Exodus. Meaning, the affected validators
36:17
would be continuously losing their steak.
36:19
The Ether while they're waiting in the exit cue the large number
36:23
of validators would make the cue long slow and inexpensive
36:27
essentially what it would cause is a complete bottleneck where
36:30
no one can move out of this shit coin and your value.
36:35
Your hard earned value is stuck. AF other risks control of
36:41
greater than 2/3 of the total State T3, gives power to the
36:44
developers of a Single client to choose which version of the
36:48
history is the white, the right one.
36:50
For example, if the developers turned malevolent, they could
36:52
spend some ether, then collectively vote to replace the
36:56
existing finalized chain with an alternative version that does
36:59
not include their spend transaction.
37:02
This is a double spend made possible by the clients
37:04
supermajority that allows it to revert finality and overwrite
37:07
history, man. It almost sounds like they
37:09
should just, you know, everyone should just be using Bitcoin and
37:12
have proof of work. They can t ways the can Ant.
37:15
That's the thing, dude, they can now Fred all this crap to you.
37:19
Almost at the end of this, the execution clients, these are the
37:22
current clients that exists right now.
37:25
The proof of work client, the consensus clients that is what
37:29
is going to exist on the merge Beacon, shit chain, okay?
37:35
And they're talking about client centralization.
37:38
So here we go. We can see right here, 60% of
37:41
the clients are prism, okay? And that is the clients.
37:45
Software that is running that. So right there, they already
37:48
have the centralization problem. It hasn't even begun hasn't even
37:53
begun and there's already an attack Vector waiting to happen.
37:57
Alright, to sum this up client, diversity is directly
38:00
incentivized by the beacon, chains reward and penalty.
38:03
Protocols, single client dominance is a hidden threat to
38:06
etherium. That's not so hidden invisible,
38:08
while the dominant client, behaves faultlessly.
38:11
But potentially catastrophic, when a scent, when a consensus
38:14
bug, Ears its head. Having multiple clients is a
38:17
unique strengths of etherium. That's a load of crap and a
38:21
testament to the diligence of the developer Community,
38:28
however, that good work is undermined.
38:30
When one client controls a majority of the steak to finish
38:35
it up, I just want to talk about the point here, with the, with
38:41
the stagers and the validators, this is very juicy stuff.
38:45
Nico. This is what goes to your point
38:46
about the talat arianism. Stay Keith access, collateral
38:51
incentivizing, honest behavior of validators, which we
38:54
explained before. Okay, these staked, ether, grows
38:59
over time as validators are rewarded for their participation
39:02
in securing the network. Validators are selected to be
39:06
block proposers, they get rewarded.
39:08
If their proposed block gets finalized block, proposers can
39:12
also increase their reward by including evidence of
39:16
misbehavior by other Gators in the proposed.
39:20
Block, these rewards are the carrots that encourage validator
39:26
honesty. So, I just want everyone to stop
39:29
and think for a second snitching is part of the protocol.
39:36
I just want to explain that. This is this is a very strange
39:40
thing that you know, we've seen in totality Terry and
39:43
governments that we just showed you.
39:47
Is part of the biggest shit. Coin platform that is out there
39:52
or is going to be part of their future platform.
39:57
I mean I don't even know what to say.
39:59
I just think this is completely insane and this sounds
40:02
absolutely ridiculous. And believe me, I cut out a lot
40:05
of the, a lot of the mumbo jumbo, there's a lot of
40:09
confusing garbage in that Nico, dude.
40:12
Look, it sounds like democratically-controlled money,
40:15
okay? It sounds like there's going to
40:16
be a group of Elites that are going to get to make the rules.
40:19
Right? What you're going to be
40:20
exchanges, which are going to have the majority exchanges, and
40:22
the etherium foundation, which are going to have the majority
40:24
of the eith and Are essentially going to be T, they're going to
40:27
be gods and they're going to get to pick and choose which
40:30
transactions are good, which transactions are not and all of
40:33
these. Those those institutions because
40:35
they really are institutions could be corrupted by
40:37
governments, right? And governments.
40:39
Get to pick and choose, look, look.
40:40
This is the people that you want to.
40:41
Censor is a people that you don't want to censor, right?
40:45
And then you compare and contrast, Bitcoin, Bitcoin is a
40:49
nine-page white paper, right? It's been working essentially
40:52
the same way, you know, added more functionalities, The base
40:57
layer hasn't changed etherium, they want to change their base
41:01
layer years in. And why is this happening?
41:03
Why is this development happening and you were reading
41:06
through that Phil and essentially the conclusion that
41:09
I'm getting to is they're never going to figure this out.
41:11
Aetherium to is never going to work out.
41:14
I think that this is an in solvable problem because if they
41:18
do solve the problem, let's say they, you know, they bite the
41:21
bullet, they move to eat to they do they have this whole proof of
41:24
stake system, it's going to be Captured.
41:26
Eventually, those are all, you are reading all that.
41:29
I saw, I saw moments of, I saw, I saw points of failure.
41:32
I saw a trust involved, right? Trust involved with the people
41:37
that have the most at play, right?
41:39
Those instances are misaligned, right?
41:41
You know, Bitcoin essentially knows that people are just going
41:44
to behave following their own incentives, right?
41:47
Which is how the Bitcoin network works, right?
41:49
You know the miners are just going to mine Bitcoin.
41:52
There's one fundamental flawed Bitcoin.
41:54
What's is a 51% attack? There's one flaw and that flawed
41:59
the more the hash rate continues to rise the Lesser probability.
42:04
It's going to happen. I know a lot of people are
42:05
saying well there's pools that have 20% of the hash rate, just
42:09
because someone decided to put their hash rate with the pool
42:12
does not necessarily mean that that pool owns all that hash
42:16
rate. So if that pool starts
42:18
misbehaving, those miners are just going to take their hash
42:22
weight away from that pool and give it to a pool.
42:25
That is that his aving, remember your more incentivized to play
42:29
by the rules in the Bitcoin Network?
42:31
Then you are to play against the rules, right?
42:34
Which is why the Bitcoin network is working the way it does.
42:38
Everyone's just following their own incentives.
42:40
That's the beauty of it. What I'm seeing now is a
42:43
hypothetical thing that has never been in successfully
42:47
implemented that has tons of value and they're essentially
42:51
trying to Pivot move this giant Network into this new way.
42:56
And they're going to try to take advantage of the climate
42:58
narrative and say, this doesn't use any energy, right?
43:01
So again, I think it's a load of bullshit.
43:04
I think that this is not going to come into fruition which is
43:07
why e 2.0 has taken so long. But at the same time remember
43:11
that all these eat developers are not incentivized to
43:15
understand that because to them they've hit a home run.
43:19
Why? Because etherium continues to go
43:22
up if it continues to go up that means the Ethereal Foundation
43:24
could keep selling a theory. IAM and they can keep funding
43:28
their organization into looking into things.
43:31
That personally, I don't think it's ever going to work and I
43:35
think it's MIT the the incentives are misaligned.
43:37
I think there's a tremendous amount of trust involved.
43:40
I think it's going to concentrate power into the hands
43:43
of the etherium elite, which sounds awfully like the Fiat
43:46
system that we have today, right?
43:48
So again, I don't see Innovation there, I seen that.
43:51
I see a continuation of the system we have today, which
43:55
would make sense Why the etherium of foundation would be
43:57
supported by the world economic forum and Bitcoin would be hated
44:01
right Bitcoin levels, the playing field with everybody.
44:04
Makes everyone equal in the eyes of the Bitcoin network.
44:07
Etherium is just a continuation of the fucking system we have
44:10
today. Dude that you read all of that
44:12
and I'm like holy fuck there's so many holes in this but
44:16
anyways Phil it's time for the daily move you brought to you by
44:19
Citi l21 is the best Bitcoin cultural zeenat stories articles
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Comics by actual bitcoiners. Yes, and it's different volume
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only 1000 copies made per volume.
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Get your print off Citadel 21 today.
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All right this meme is brought To Us by legendary me mr.
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Spent a day Bitcoin fixes this warning yesterday.
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We notice you criticize the government on Facebook your
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account has therefore been suspended for 14 days.
44:52
Bitcoin fixes us very menacing. Next one is by Joko.
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Yoko Ono. Well, I'm a 10x on my Bitcoin.
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Maybe I should trade shit coins. 99%.
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I'll stay with Bitcoin. Absolutely, hilarious.
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Moving on. To the next one, this is by
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Rasmus my paycheck things. I want to spend money on
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All right. Moving on to next 1 by Rd 58 K.
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Calm, 48k. Calm, 38k Calm, accurate
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accurate. All right.
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Moving on to the next one. Bye, Katya BTC.
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Are you two friends? Lightning Labs.
45:24
No world, economic Forum. Yes, absolutely.
45:27
Hilarious as a great template. Okay, moving on to the last one.
45:31
By spent a, you don't need a license to fly hot air balloon
45:34
to even if I do who's going to stop me balloon cops.
45:37
It's very true. And it's true.
45:40
Actually yeah, their knowledge. Gee that you know you could
45:42
bring with Bitcoin is that like dude like you know, build it
45:46
first and apologize later, you know, but apparently that
45:48
doesn't work anymore in Canada, right?
45:50
You have to know the future and know what laws are going to be
45:53
legal so that you don't break them.
45:56
Anyways, little bit of a dark joke there for there for that.
45:59
I'm going to give it Matrix glasses.
46:03
Like it. Yeah yeah.
46:05
Anyways but with very menacing very menacing okay, those are
46:09
great memes, enjoyed them very much to memes by spent a so good
46:12
job on that. Spent a I am going to give this
46:15
this is the lowest level hand massager.
46:22
Kind of like a hand exercise thingy.
46:24
Oh, it's a hit. Okay.
46:25
And now I know IMA and exercise that you squeeze.
46:28
Yeah, it's true. Okay.
46:29
Anyways guys, we want to know the reason it's for the rest is
46:32
for the rest. Anyways, guys, we want to know.
46:33
Do you agree with her memes? You know, you agree with our
46:36
scores and our means, let us know down in the comment,
46:38
comment. Comment, comment, comment.
46:39
And of course, make sure to join our telegram group link because
46:42
some Bitcoin meme serve you because it is a Bitcoin being
46:44
review. We need Bitcoin memes to review.
46:46
And, of course, make sure to subscribe to us on alternative
46:49
video platforms like, Rumble.com and our personal.
46:51
Favorite Bitcoin tv.com. But anyways Phil it's time for
46:55
the Daily News brought to you by crypto.
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So This is what this is. Kind of a continuation of what I
47:23
was covering on in the numbers, right?
47:26
Listen, the king. Everyone bows down to the king
47:30
of eventually in the king is Bitcoin.
47:31
Everyone comes around. You could deny it for a very
47:34
long time but eventually you are going to understand it because
47:38
eventually you're going to be put in a situation where you're
47:40
going to need it, okay. And that's just the reality of
47:43
it and it can be delayed for a long time.
47:45
But eventually your life is going to reach a point where
47:48
you're just like I'm going to start looking at other places
47:50
and I think that in the West, I think we've been accustomed to
47:54
complacency because our systems are relatively stable, and the
47:58
rails are very good here. There's so many different
48:00
options, there's PayPal, there's venmo, there's cash out, there's
48:03
this, and this, and that, but all of those things, right?
48:06
Could be censored in an era of censorship, I think a nun,
48:10
sensible money or censorship resistant.
48:12
Money better said, is, is, you know, it's coming out, it's
48:16
highlighting, its importance, and even the blue check marks on
48:20
Twitter are Around shout-out to the Canadian government.
48:24
Thank you, Justin Trudeau. Anyways, this is dhh, he's a
48:28
blue checkmark and he is a writer for the New Yorker.
48:31
Know, he's a New York Times bestselling author, this, the
48:33
exact person that would be bashing Bitcoin.
48:36
Anyways, this is a, this is a quote, from his, from his blog
48:39
post, which we're going to check out, right?
48:42
And he says, I was wrong. We need crypto.
48:45
You're wrong again, we need Bitcoin Bitcoin and we just
48:48
spent the exact, like, like 20 minutes on the All explaining
48:53
why you need Bitcoin and not crypto.
48:56
Anyways to say I've been skeptical about Bitcoin in the
48:59
rest of Crypt of the crypto Universe would be an
49:01
understatement of Epic Proportions since the early
49:04
2010's, some of my most ferocious Twitter battles have
49:07
beds have been against the hottel army with the laser eyes.
49:10
Those sound like bitcoiners. Anyways, there's just so much to
49:14
oppose Bitcoins grotesque energy consumption.
49:18
Okay, mr. Dhh, that is a feature, not a
49:21
bug. Is what makes Bitcoin
49:23
unsensible. So you're criticizing the thing
49:28
that makes it. The thing, anyways, the
49:30
ridiculous transaction fees. Wrong lightning and low.
49:34
Throughput wrong lightning, the incessant pump and dump schemes
49:38
and shit coins. You're right there.
49:40
The wild price swings problem and the main coins that is
49:43
absolutely, dude. The volatility thing, do you
49:46
want Bitcoin to reach the moon? Then it needs volatility.
49:49
Do you want people? Do you want Bitcoin to?
49:51
Rat to attract new bitcoiners, then you need that volatility.
49:55
Anyways, the obvious fraud that is 12 to other.
49:58
I pretty much agree with that, the lack of real
50:00
decentralization, that is not true.
50:02
When it Go, the lack of real decentralize it and most of the
50:05
current web three infrastructure he is absolutely right.
50:08
There are three now he's absolutely right there.
50:10
It is centralized garbage beyond all these real problems and
50:13
challenges might bigger beef was actually fueled by the lack of
50:16
imagination. I could see the fundamental
50:18
promise of a digital currency free of banks.
50:20
If you were living in a fail, State like Venezuela or overtly
50:23
authoritarian, one like China or Iran, but how was this relevant
50:27
to the vast number of Bitcoin boasters living in stable,
50:29
Western democracies governed by the rule of law.
50:32
This is what I was talking about, this is what I was
50:36
talking about, it gives you the false illusion it, people living
50:40
in the west that you don't need something like Bitcoin, but like
50:44
we've been anticipating on the show very quickly.
50:48
People in the west are going to have To learn Bitcoin, not out
50:53
of speculation. But out of necessity, if you've
50:55
been listening, you've been tuning in to this channel.
50:57
We've been telling you this for over a year now beyond the Patna
51:02
of philosophical respectability. It could apply to yet another
51:05
get-rich-quick scheme. Now, what's that you sing again?
51:09
Just because you're paranoid, doesn't mean they aren't afraid
51:12
of you. It's starting to smell like that
51:14
just because Bitcoins most virtuous argument was presented
51:18
in in, not bad faith. Then in Vaguely Faith by
51:23
get-rich-quick booster doesn't mean it isn't true.
51:26
See that I think is insincere. I think what you at you saw as
51:32
people as bitcoiners as get-rich-quick boosters, you
51:35
saw, as people as bad faith, actors I think was just plebs
51:40
being plebs. Calling you out on bullshit.
51:43
And I think, now that you have to admit, the fact that you were
51:45
wrong, right? I think your egos having trouble
51:50
accepting that anyways. But I digress enter the tech
51:53
Drucker protest in Canada, it just three weeks of honking
51:56
block streets and bridges, bouncy castles and flag-waving.
52:00
This peaceful peaceful protest movement, managed to provoke the
52:02
most shockingly a theret Orion response from the Canadian
52:06
government. If you've been tuning in to this
52:08
channel, it should not come as a shock to you.
52:10
Anyways, I still can't believe that this is the protests that
52:15
would prove every Bitcoin crank a profit.
52:17
I can't believe it at anywhere Canada out of all places WTF.
52:21
And for me to have a slice of piece of Humble Pie, and I made
52:25
that I was wrong on Bitcoins, fundamental necessity and
52:29
Western democracy, not crypto. Anyways, especially since I have
52:32
some sympathy with fears projected by the u.s.
52:35
progressive left, who spent four years fretting, Trump, my pull
52:38
stunts like these then it turns out that the worries of an
52:41
authoritarian overreach would be fulfilled by left-leaning
52:45
Trudeau to the north and said, who's writing the script M Night
52:49
Shyamalan but in a weird way. I'm glad we all got this warning
52:53
from Trudeau and Canada and not Trump in America.
52:55
It would have been far too easy for Europeans.
52:57
In particular to dismiss out there tearing assertions of
53:01
Martial law from Trump as being irrelevant to the European
53:04
experience. I completely agree.
53:06
That is a very good point. Just like I have just just like
53:09
I had for so long. Deemed the Practical desire of
53:12
people in Venezuela Iran or China for crypto relevant to the
53:15
entire Western experience. I'm sitting with the same
53:18
feeling here. Even just a few months ago I
53:20
would not I would not Have found it credible.
53:23
If you said a three-week produce full process in Canada, could
53:26
have led some martial law, Frozen bank accounts and a
53:28
terrorist financing laws being used to hunt protest.
53:31
Donors. Unbelievable.
53:33
Then unbelievable. Now I don't think we have any
53:36
idea what kind of Racket radicalizing seeds have been
53:40
planted by true. Do with these actions.
53:42
This is one of those world events that you can imagine in a
53:45
documentary of the future opening with it all started one.
53:48
And this is what tie this in with what I was saying.
53:51
About the 1930s in Germany, what I covered in during the number
53:54
section, right? Connect that with that, this is
53:58
the beginning. This is not, we're not Midway
54:01
through the movie. We're not.
54:03
We're at that part of the movie where shit starts, hitting the
54:05
fan. You start saying oh shit we're
54:08
at that part of the movie. Anyways, but whenever this leads
54:11
us next, it's clear to me now that I was too hasty to
54:14
completely dismiss crypto on the basis of all things wrong with
54:17
it at the moment, instead of appreciating the fundamental
54:20
freedom. To transact that it's currently
54:23
our best shot at protecting, which is what we've been saying
54:27
for the last year. And you've been bashing at us.
54:31
And now there's this very famous saying, which is you don't
54:35
notice until it's too late, right?
54:37
So you've been advocating, just because it the West gives you
54:40
this false illusion of stability and whatever.
54:43
But look, if you pay attention to the government's right, they
54:46
have always abuse. The powers that they have been
54:48
given, right? This all started with the
54:50
Patriot Act. The Patriot Tracks essentially
54:52
gave the government tremendous amount of power over bank
54:56
accounts. And essentially, if you were
54:58
deemed a terrorist or whatever, they could freeze your bank
55:01
account because it was all under the guise of protecting the
55:04
United States from another September 11th attack, we're 20
55:08
years into the future of the law remains, right?
55:11
But the terrorist attacks, haven't, you know again, huh?
55:17
And now they're being used against their own citizens was
55:20
as the case in, X and in Canada. Now, they're implementing some,
55:24
their version of the Patriot Act, essentially, giving the
55:27
government listen, we don't agree with your type of protest,
55:30
Frozen bank accounts right then and there Booyakasha, right?
55:34
Which is what bitcoiners have been saying for years.
55:38
We've been saying listen, if there is that people with that
55:40
much power, obviously they're going to use that power to keep
55:44
themselves in power, right? Which is going to lead to
55:47
censorship, which is going to lead to persecution Bitcoin.
55:51
We Bitcoin protects you from that type of collective mob and
55:56
it protects you from governments, right?
55:59
And it's funny because governments want to regulate
56:01
Bitcoin but in fact Bitcoin is going to regulate government's
56:04
because it's going to empower the individual over the state.
56:08
It moves the balance of power from the state back to the
56:12
individual. It gives the individual.
56:14
The ability to not only vote with his feet, but also his
56:17
wallet, I think, and I'm gonna go on a limb here and I'm going
56:21
to make this Claim. I think it would have saved
56:23
millions of Jews during the Holocaust in the 1930s because
56:27
it would have given them the ability to leave to walk away to
56:31
get out of the madness. And I know a lot of them, right?
56:35
If you read history, Unfortunately, they got stuck
56:37
there because they couldn't take their stuff with them.
56:40
There were other right? So Bitcoin changes that it
56:43
changes the world for the better, right?
56:45
It breaks the cycle. We need to separate the money
56:48
from state or this cycle of Of totalitarianism and
56:53
authoritarianism is going to keep happening because
56:56
governments have so much control over the people through monetary
57:00
policy. And because people are using the
57:03
state's money, we need to change it as a species and this will
57:07
lead to a new era of a Renaissance and freedom.
57:10
And I can't wait for that. I can see it.
57:13
I can see it. I could peek over the fucking
57:15
Hill and I could see it but we have to fucking get over this
57:19
bumpy ass atrocious Hill full of Mark Jagged rocks first and I
57:23
think they were just beginning on that Journey.
57:25
Phil, I think we're just taking the first steps right of this
57:28
final Hill that we have to climb and we have to conquer dude and
57:32
it's very terrifying. But I'm really glad right that
57:35
would happening in Canada is waking up.
57:37
Some progressives in the United States, some lefties in the
57:41
United States and saying, holy shit, that is scary.
57:45
I could see how if Trump, theoretically, could get back
57:48
into office because use that against us.
57:50
This is Is why something like Bitcoin is important, right?
57:53
So I'm super glad and I'm super grateful, shout out to the
57:56
Canadian government, amazing marketing.
57:58
So you know quite often I've heard that the final boss of
58:03
Bitcoin is the Bank of international settlements or you
58:06
know, the central Bankers as a whole, the IMF.
58:09
Anyways, all kinds of combinations.
58:11
I'm gonna go out on a limb after looking at all that information.
58:15
And I'm going to say, the final boss is ourselves.
58:18
We have to get out of our own way.
58:21
And we all have to decide that we need to fix the money first.
58:25
Plain and simple. And you know what?
58:28
You had some fire stuff right there.
58:30
You said the government's won't regulate Bitcoin, Bitcoin will
58:34
regulate government's, okay? That right there is exactly
58:40
what's going to happen through a very difficult, very painful.
58:46
And very, how could we say this? A lot of self learning like that
58:53
because the reality is is that we've always just given up into
58:58
laziness and allowed Central authorities Central entities to
59:02
manage things, okay? And don't get me wrong.
59:06
I also believe that the reason why we're like this is because
59:08
of the natural Human Condition. People will argue, you know,
59:11
with me. But I believe that the natural
59:13
human condition is laziness. And this is where all the
59:16
Innovation comes from. I mean, think about it, if we
59:18
weren't lazy, we wouldn't have come up with the wheel.
59:19
If we weren't lazy, we wouldn't have come up with Fire.
59:22
We want it to be warm, right? Wanted to figure out.
59:25
What's the easiest way to cool? You know, the easiest way to
59:27
create the heath and to feed ourselves fire, you know, like
59:30
look, we didn't want to eat raw meat and very difficult.
59:33
I think you see it from the eyes of a modern lens and you see
59:36
laziness, but I would say survival, I would say it's
59:40
survival, its survival. And we've just got to a level of
59:43
prosperity of that is excited. Seems like it's just laziness,
59:46
right, but I think the base layer was just human beings
59:49
trying to survive and conserve. Energy.
59:52
And I think that in their quest of conservation of energy,
59:56
essentially they came up with all these fucking genius ass
59:59
inventions, right? Like the fire like wheel and all
1:00:02
that mean, fires, make things easy recovery, right?
1:00:04
But yeah, to make things easy. He's given up telling you, I'm
1:00:08
telling you, I've thought about this a hundred times, I always
1:00:10
go back to laziness but I totally appreciate.
1:00:12
I do appreciate that point about the the survival, but look at
1:00:16
the end of the day. Rights going back to the whole
1:00:18
the original, the Tweeter. Okay?
1:00:20
The Tweeter that Wrote that. That original tweet and okay.
1:00:25
She mixes in the shit coins in the whole thing and the product.
1:00:28
And this is kind of still where I, it's like you said we're
1:00:31
early and they're still mixing in the shit coins and I just
1:00:33
wish that like they would understand the separation.
1:00:36
It's like look, we agree with you about the shit coins.
1:00:39
We know they're lies, we know their scans were with you on
1:00:42
this, but they've got to stop including Bitcoin with it
1:00:45
because it tarnishes Bitcoin with the shit coin stupidity.
1:00:48
Well, he's starting his journey, he's yes, starting his journey
1:00:52
right definite. The mean yesterday of the the
1:00:54
you know, the Bell L curve or it started with Bitcoin and then
1:00:57
shut away. He's on his way.
1:00:59
So you know he's like oh this is useful and then he's gonna go.
1:01:02
This is the beginning of his Rabbit Hole experience.
1:01:05
You know he's gonna tune into simply Bitcoin a couple years
1:01:07
you're like yeah. You guys are right?
1:01:09
No, I'm just kidding. I don't know what's gonna
1:01:10
happen. Can you imagine?
1:01:12
It's like, yeah. But yes, we should corner.
1:01:16
But yeah, dude, it's but I'm glad.
1:01:18
I'm really glad. And again, sometimes it takes
1:01:21
horrible things to wake up, people to the reality of the
1:01:25
situation. Nation.
1:01:25
And you know, I unfortunately Castro Trudeau happens to be the
1:01:31
the main character in that. But anyways Phil there was an
1:01:34
open source off early today, wanting to everybody about it
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We've got hexa wallet version 2 2.0 dot 69, that was released
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its Down Below in the show notes, guys.
1:02:00
You know the deal we post rain or shine unless we tell you
1:02:03
differently, our new premier time is 12:45 p.m.
1:02:07
Eastern Standard time. We are sorry for the premiere
1:02:11
time fuckery but we fixed it. And anyways, don't forget to
1:02:15
check us out. On our Audio, Only podcast
1:02:18
platforms, Apple podcast, Spotify and anchor.
1:02:22
Yeah. But hold on.
1:02:23
We're not sorry though. We were getting more.
1:02:25
Viewers at 12:45 slot, which is why we started experimenting
1:02:28
know. So hold on, we're sorry about
1:02:30
the fuckery because malting another time, we did 11:00 in
1:02:33
the morning and then we had the one on Saturday to make.
1:02:35
Totally got crapped on. You were experimenting to get
1:02:38
the right time for you to get as many as possible for you guys in
1:02:41
the show. Because that's obviously,
1:02:42
that's, you know, that's the best bang for your but it's a
1:02:45
winner for us. It's a winner for you, but make
1:02:47
some sound so much more competent.
1:02:49
I appreciate that. We're experimenting.
1:02:51
We found the thing. We're probably if, you know,
1:02:53
we'll probably experiment more in the future.
1:02:55
So, we're sorry for experimenting more in the
1:02:57
future, but we're not. Sorry, because we're trying to
1:02:58
make the best experience for you.
1:02:59
Also, if you like fill a nice threads, right?
1:03:01
This is the the central I represent the centralized
1:03:04
corpse, right? It's decentralized, die-hard
1:03:07
hoodies DieHard.com and Phil's wearing one too.
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You can van that you can take advantage of a link down below
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for 15% off anything on the store, represent LTD.com.
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Anyways guys, that was our show. If you enjoyed the show, you
1:03:19
know what to do something? Of course you want to continue
1:03:22
hearing the catastrophic fails from the Canadian government and
1:03:25
the A coin use from the Polly Platt perspective.
1:03:27
Definitely consider subscribing to Simply Bitcoin and we'll see
1:03:31
smart guides for venue episode. Nico spits hot fire.
1:03:34
Check this one out. Government's won't regulate
1:03:36
Bitcoin. Bitcoin will regulate
1:03:38
governments.