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The Biggest Market Blackout Ever Just EXPOSED Bitcoin Price Manipulation! | Bitcoin Simply · Simply Bitcoin

• 0:00
  It's Black Friday, and in America we celebrate things
• 0:03
  going on sale, just like Texas who celebrated buying the dip,
• 0:06
  becoming the first state to create a strategic Bitcoin
• 0:09
  reserve. But this Black Friday also
• 0:11
  reminds us how dark the existing financial system is.
• 0:14
  We're experiencing the largest blackout in the history of
• 0:16
  financial markets with the $1 trillion CME exchange going out
• 0:20
  because of cooling power issues with their data centers.
• 0:23
  The blackout confirms with silver bugs that felt for a long
• 0:25
  time that the price of silver has been manipulated.
• 0:28
  Ironically, at the same time, when we have blackouts, silver
• 0:31
  goes up over 4%, breaking $55 an ounce for the first time ever.
• 0:35
  The current establishment will do whatever it takes to
• 0:38
  manipulate currencies that aren't theirs to control and.
• 0:41
  You're wasting your time. So you think when the DOJ calls
• 0:44
  on up and says that's an illegal currency against the laws in
• 0:46
  United States and if you do it again we'll put you in jail,
• 0:48
  it's over. No, no issue.
• 0:50
  There will be, this is my personal opinion.
• 0:53
  There will be no real non controlled currency in the
• 0:56
  world. Silver Bucks breathe a sigh of
• 0:58
  relief knowing they haven't been crazy all of these years, that
• 1:01
  JP Morgan was in fact manipulating the silver
• 1:03
  exchanges. And so while everyone's excited
• 1:05
  about Texas creating a strategic Bitcoin reserve with a
• 1:07
  $5,000,000 purchase, it's the 8th largest economy in the
• 1:10
  world. What's not to like?
• 1:11
  I'm a little bit more skeptical because they're buying it
• 1:14
  through ETF's in order for this whole revolution to work.
• 1:17
  States, corporations, people are going to have to buy the real
• 1:20
  thing, not some financialized product that's a Bitcoin
• 1:23
  derivative. Anything else will be
• 1:25
  manipulated. We've seen this play out.
• 1:27
  The CME needs to be a wake up call.
• 1:29
  We need to demand real Bitcoin and real Bitcoin held in cold
• 1:31
  storage or risk the same thing that's happening to silver
• 1:34
  happening to Bitcoin. Wake up.
• 1:36
  This is Dante Coke with Bitcoin. Simply let's go.
• 1:42
  OK, there's only one right song to celebrate Thanksgiving with,
• 1:45
  and if this wasn't it, you weren't celebrating properly.
• 1:49
  I am the chosen 1. Somebody had to do it.
• 1:52
  Beans. lamp.
• 2:04
  There were lots of things to be thankful for this week, starting
• 2:07
  with the announcement that we're likely going to get a new Fed
• 2:10
  chair named before Christmas. You give us a hint.
• 2:13
  We often talk about the two Kevins, Kevin Wash and Kevin
• 2:16
  Hassett being the the front runners.
• 2:18
  Is that still the case? Andrew, I, I'm still got one
• 2:22
  interview left. So I, I don't think it would be
• 2:25
  prudent to get give any hints. And, you know, I think that
• 2:30
  there's a very good chance that the, the president will make an
• 2:33
  announcement before Christmas. But you know, it's, it's his
• 2:36
  prerogative whether it's the before the Christmas holidays in
• 2:40
  in the New Year's. But think things are moving
• 2:43
  along very well. Oh, you know what else we could
• 2:46
  be thankful for? Potentially no income tax.
• 2:49
  You keep what you make for. The next couple of years, I
• 2:51
  think we'll substantially be cutting and maybe cutting out
• 2:54
  completely, but we'll be cutting income tax could be almost
• 2:59
  completely cutting it because the money we're taking and it's
• 3:01
  going to be so large. Bit corners have a lot to
• 3:04
  celebrate as well. What are?
• 3:05
  You thankful for this Thanksgiving.
• 3:07
  Well, I'm thankful for the fact that my Turkey.
• 3:10
  Was. Cheaper than last year because I
• 3:11
  paid in Bitcoin. Anything you're thankful for?
• 3:15
  I'm thankful. For Germany selling their coins
• 3:18
  because I immediately bought them.
• 3:22
  What about you? Anything you're thankful for?
• 3:24
  I'm thankful for not needing those dirty cookbooks we call
• 3:27
  money. What are you thankful for?
• 3:29
  I'm thankful for having bought the dip.
• 3:32
  What are you thankful for? I'm thankful for the fact that
• 3:35
  Craig Wright isn't Satoshi. What are you thankful for?
• 3:39
  I'm thankful for JP Morgan dumping me.
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  They need me more than I need them.
• 3:48
  Genius Act strategic Bitcoin reserves all time highs,
• 3:52
  halvings and more. Speaking of strategic Bitcoin
• 3:55
  reserve, you can add another thing to be thankful for to the
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  list as Texas became the first state to create a strategic
• 4:00
  Bitcoin reserve with a $5,000,000 purchase with $10
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  million authorized. But here's the catch, it's not
• 4:06
  actually Bitcoin that they hold in cold storage or that they
• 4:09
  have the keys or access to. It's Bitcoin being purchased in
• 4:12
  the form of ibit. The big money flowing into
• 4:14
  Bitcoin right now isn't from retail.
• 4:16
  Bitcoin is actually one of the first revolutions in history
• 4:18
  where retail front ran Wall Street and now it seems as
• 4:21
  though Wall Street is caught on and are now going to put their
• 4:24
  paws and fingers on this asset class.
• 4:26
  The flows happening in Bitcoin are from the big boys now.
• 4:28
  In an interview that James from Checkmate did with What Bitcoin
• 4:31
  Did, he talks about how the massive flows of capital that
• 4:34
  are coming into Bitcoin are not explained by retail buyers.
• 4:38
  If it breaks to a new all time high, this is the only way we
• 4:41
  can really speculate about this stuff.
• 4:43
  It feels to me like it's gotta be banks and it could be
• 4:46
  sovereigns because it's in the spot market, which is a
• 4:49
  strategic position. And the size, the size of it is
• 4:53
  just extraordinary. And how do we know it's big?
• 4:55
  Because we saw the selling, the sell sign was massive, like 3
• 4:59
  billion, $2 billion a day. I'm not bringing that in.
• 5:02
  I'm talking about being happy with a 5K clip, you know what I
• 5:04
  mean? So like the average investor is
• 5:07
  not bringing 10s of billions of dollars a week.
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  They're coming from the banks, the sovereigns, the derivative
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  markets, the futures markets. And this is my concern.
• 5:16
  When you see what's happening today in the CME futures market,
• 5:19
  you wonder if this sort of thing could happen to Bitcoin.
• 5:21
  The CME infrastructure went down for 12 hours because of a
• 5:24
  cooling issue. This clearly smells like a cyber
• 5:27
  attack from me. Anyone who's built anything
• 5:29
  knows that these data centers don't just run on single set of
• 5:31
  servers. If a set of servers goes down,
• 5:34
  another set comes up for redundancy.
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  They're called backups. One day data center isn't the
• 5:39
  only one online, and one data center isn't enough to take down
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  the entire futures market. But something interesting
• 5:43
  happened when we saw the futures market go down while the price
• 5:47
  of silver skyrocketed and broke $55 for the first time ever.
• 5:51
  Ironically, gold also went up over 1%.
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  And what this tells me is the likelihood that silver hasn't
• 5:57
  been being manipulated every single day by the algos and by
• 6:00
  these future markets and derivatives that aren't actually
• 6:03
  silver holdings is highly likely.
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  Even the charts for silver and gold were out during these
• 6:08
  outages, meaning that there was no real price discovery.
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  But what do you mean there was no real price discovery?
• 6:13
  I have silver and I want to sell it to you at this price and you
• 6:15
  have money and you want to buy the silver at this price seems
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  pretty simple, but the market isn't that simple when you have
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  derivatives in all of these other products that are naked
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  shorting the price of silver every single day at the open
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  true price discovery is not allowed to happen.
• 6:30
  And so although people celebrate that Bitcoin is coming into the
• 6:33
  financial markets in a big and mainstream way, I disagree with
• 6:37
  some of the proponents to say that it Bitcoin doesn't care, it
• 6:39
  doesn't really matter. Like in this clip from Safety,
• 6:42
  he says that it doesn't truly matter what the financial
• 6:44
  markets do with Bitcoin. Does it matter the bitcoins
• 6:47
  moving away from its sort of cipher punk ethos and just.
• 6:50
  Becoming this massively. Mainstream financial assets.
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  By virtue of what it. Is no, I don't.
• 6:56
  I don't really see it that way. I think, I think to be honest, a
• 6:59
  lot of people project too much onto Bitcoin.
• 7:02
  Ultimately, it's just a bunch of software and anybody can use it
• 7:07
  in any way that they want. Then anybody can make, you know,
• 7:10
  it can do of it whatever they want.
• 7:12
  So it's a tool that people are going to be using.
• 7:15
  And of course, initially it's a small subset of people that uses
• 7:18
  it and then they start projecting their values onto it.
• 7:20
  And then over time they expect it to continue to abide.
• 7:24
  But over time, if it's a successful technology, it's
• 7:26
  going to be used by everybody. It's going to be used by small
• 7:29
  businesses, large businesses, governments, individuals.
• 7:32
  It's money. Everybody uses money. 8 1/2
• 7:34
  billion people on earth, they all use money and they're all
• 7:38
  going to continue to use money. Bitcoin is just the best money.
• 7:41
  If you have very strong feelings about how people should and
• 7:46
  shouldn't use Bitcoin, you're in for a rough time.
• 7:49
  I would say it's with it. Just accept the fact that, you
• 7:52
  know, people can do with their money whatever they want.
• 7:54
  And the way that the protocol works is that it's completely
• 7:56
  blind to what you're doing with your coins on the Bitcoin
• 8:01
  blockchain. There is no paper Bitcoin.
• 8:03
  There's no such thing as paper Bitcoin.
• 8:05
  There's only 21 million Bitcoin and every node makes sure of
• 8:08
  that every 10 minutes. And then if somebody who has
• 8:12
  some of these Bitcoin on their private key decides to sell
• 8:16
  obligations, financial liabilities, referring to that
• 8:20
  Bitcoin under any condition, that's their choice.
• 8:23
  And so it's outside of Bitcoin and it's it's outside of the
• 8:27
  realm of other Bitcoin uses being able to say this is right
• 8:31
  or wrong. And this is this should happen
• 8:33
  or shouldn't happen. People are going to do whatever
• 8:35
  they want with the Bitcoin, including selling access to it
• 8:37
  or exposure to it in all kinds of different ways.
• 8:39
  And if you don't like it, you don't buy it.
• 8:41
  You know, stack your own bitcoins.
• 8:43
  It's not just a bunch of software anymore.
• 8:45
  Sure, it allows people to settle in real time, peer-to-peer,
• 8:48
  without any intermediary people being in between.
• 8:51
  But we're not talking about a medium of exchange just yet.
• 8:53
  We're talking about a store of value.
• 8:55
  And there is a price and an element of price discovery.
• 8:57
  With Bitcoin, it's the main the feature that it has right now in
• 9:00
  markets. And so the price of Bitcoin
• 9:02
  actually determines the adoption of Bitcoin.
• 9:05
  One of the main things that people want to do with Bitcoin
• 9:07
  is escape the Fiat rat race to escape monetary debasement,
• 9:11
  which is a store value play, unless you're Nick Fuentes, and
• 9:14
  in that case you're an idiot who prefers the Fiat system.
• 9:18
  Would you make Bitcoin the US? Currency.
• 9:20
  No. No.
• 9:22
  I believe in. Fiat money generally.
• 9:24
  Would. You make it legal tender,
• 9:27
  Probably not. OK, get him off the screen.
• 9:29
  You get the point. And I think this is entirely
• 9:32
  possible if Bitcoin continues to be lauded for its ETF inflows
• 9:36
  and ETF purchases. We need to buy the real thing,
• 9:39
  real Bitcoin, that we can post in an address and run finance
• 9:42
  from. Which is exactly what you're
• 9:43
  allowed to do with letting the leader in Bitcoin back loans,
• 9:46
  which allows you to post Bitcoin as collateral into an address
• 9:49
  where you can see and verify from that actual Bitcoin.
• 9:52
  They will lend you up to 50% loan to value in dollars.
• 9:55
  So you post $2000 in Bitcoin collateral and they give you a
• 9:58
  $1000 Fiat loan. The process is fast and simple
• 10:02
  because real Bitcoin is actually fast and simple.
• 10:05
  Fiat money goes into your account in less than six hours
• 10:08
  and the application takes just two minutes.
• 10:10
  Either you have the Bitcoin collateral or you don't.
• 10:12
  It's pretty simple. None of this futures, none of
• 10:14
  these derivatives, none of these other products loan started just
• 10:17
  12.4%. You get .25% off your first loan
• 10:20
  by going to learn dot leaden dot AO slash.
• 10:22
  Simply, one of the ways that you can also verify that you have
• 10:25
  real Bitcoin is to not trust that your Bitcoin is there in an
• 10:28
  IOU or on a screen. It's to actually verify it for
• 10:31
  yourself. Coaches will teach you exactly
• 10:33
  how to do this so you can be sure that you have the Bitcoin
• 10:36
  that you say that you do or the exchange says that you do on
• 10:39
  your behalf. You remove it from exchanges and
• 10:41
  you take hold of your private keys.
• 10:43
  Have a coach walk you through this step by step at the Bitcoin
• 10:46
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• 10:48
  sovereign wealth the right way. Go to thebitcoinway.com/simply
• 10:52
  Bitcoin to learn how to remove your Bitcoin from exchanges.
• 10:55
  We're not buying Bitcoin in the open market quite yet, but my
• 11:00
  suspicion is that'll happen when there's enough pressure
• 11:02
  externally, meaning once the US government recognizes that
• 11:07
  others are taking action before them, that'll probably catalyze
• 11:11
  additional action in the future. Predicting that is sort of a
• 11:14
  fool's error in my opinion. It's like really hard to to get
• 11:18
  that correct. But what I am confident in
• 11:20
  saying is when Bitcoin is $1,000,000, a coin which I think
• 11:25
  is coming by, even though it seems unlikely right now given
• 11:27
  the current price action, I think it's still coming by say
• 11:30
  2033 or so in that time frame. So within the next 10 years, I
• 11:35
  think by the time that happens, almost every government will
• 11:38
  have some direct or indirect exposure to the asset and it
• 11:42
  will be viewed as a common, you know, strategic reserve type of
• 11:46
  asset across the world, so. Can you expand on that a little
• 11:49
  more like what market cap do you see Bitcoin reaching and what
• 11:52
  role will it play within the global financial system?
• 11:54
  I. Mean, I think it could reach 50
• 11:56
  or 100 trillion and what's it at right now, 22 trillion?
• 12:00
  Yeah, over what time frame? Over the next 10 or 15 years.
• 12:04
  OK, I want us to watch this clip, a great clip from an
• 12:06
  interview that we saw earlier this week about the potential of
• 12:09
  Bitcoin running to $1,000,000. But the part of it for me that I
• 12:12
  have a little skepticism towards is that if the banks and
• 12:14
  institutions actually get their hands on it, they're not going
• 12:17
  to allow Bitcoin to just run to 1,000,000 by 2030 just like
• 12:20
  that. And I believe it's because the
• 12:23
  amount of Bitcoiners that have all of the Bitcoin and all of
• 12:26
  the power are going to be more powerful than the people and
• 12:29
  Wall Street who got to the game too late.
• 12:31
  But if we do continue to remove Bitcoin from exchanges and have
• 12:35
  real Bitcoin, the Bitcoin that save Dean did talk about in that
• 12:38
  video, then I believe that $1 million Bitcoin can happen.
• 12:41
  But it's a matter of whether people want real Bitcoin or the
• 12:44
  Ious of Bitcoin that are being maintained, held and manipulated
• 12:48
  by these big exchanges under natural forces.
• 12:51
  Bitcoin hits a million more demand, less supply.
• 12:54
  But if the system is able to manipulate the prices like it's
• 12:56
  done with silver for years, then that future may take longer than
• 13:00
  you think. I believe that Bitcoin can and
• 13:02
  hit $1 million by 20-30 with real price discovery.
• 13:05
  I believe that it may take much longer than that if there is
• 13:08
  manipulation of the price of Bitcoin and that is the
• 13:10
  volatility we have to go through.
• 13:12
  The way that I combat my skepticism of the real Bitcoin
• 13:15
  narrative playing out or the fake manipulated Bitcoin
• 13:18
  narrative playing out is that I intend to hold for a lot longer
• 13:21
  than they're willing to stomach. Four years is a good time. 10
• 13:24
  years is a great time in the right time, and then I'll
• 13:26
  revisit from there. You know, as I say, volatility
• 13:29
  is vitality. Bitcoin is a volatile asset.
• 13:33
  If you're going to hold the asset you need a four year time
• 13:36
  horizon is minimum. A 10 year time horizon is really
• 13:40
  the the right time frame. If your time horizon is less
• 13:45
  than four years, you should hold the credit instruments like
• 13:48
  digital credit. And if you're an equity investor
• 13:52
  in a digital equity like my company, you need that same 4 to
• 13:57
  10 year time horizon. 4 is the short term, 10 years is a long
• 14:01
  term. I'm an officer of a publicly
• 14:03
  traded company. And what are we doing?
• 14:06
  We are in the business of buying a high energy, highly volatile
• 14:12
  asset and stripping the risk and the volatility off of it in
• 14:16
  order to sell it to people that are much more risk adverse, that
• 14:20
  are much more volatility adverse, that just want that
• 14:23
  yield. And so if Bitcoin wasn't
• 14:25
  volatile, it probably wouldn't be high performance and then our
• 14:29
  value added wouldn't be that great, right?
• 14:31
  Like for example, I say to people, if you knew Bitcoin was
• 14:34
  going to go up 2% a month forever with no volatility,
• 14:37
  neither you nor I would be in business because all the
• 14:41
  conventional finance investors, all the conventional
• 14:44
  journalists, they would dominate the market.
• 14:46
  Warren Buffett would own all of it and there wouldn't be an
• 14:49
  opportunity for us. So I look at the volatility as
• 14:54
  it's challenge, but it's also the bug is the feature.
• 14:59
  And I say to people, you know, volatility is Satoshi's gift to
• 15:04
  the faithful. He basically gave you the
• 15:07
  ability to rise to the top of your profession as an analyst,
• 15:13
  as a journalist, as a corporate operator, as an investor.
• 15:17
  And if the volatility goes away, no one cares about your opinion
• 15:22
  on any of this. It's like, you know, you've got
• 15:25
  fire, and we've got the phrase burned.
• 15:28
  Fire burns you and electricity shocks you.
• 15:31
  And Henry Ford created an automobile, you know, with a
• 15:35
  burning engine, with a fire in the engine.
• 15:38
  And we created electronic transmissions.
• 15:41
  And so you put electricity and fire in the car, and you've got
• 15:44
  to kill our consumer product. And I think the key here is you
• 15:49
  got to look at at this market and say this is indicative of
• 15:52
  energy. You can harness the energy, You
• 15:55
  can't be scared of the energy, right?
• 15:58
  There are those people that run from the fires and then there's
• 16:01
  people that put the fire in the automobile or the jet airplane,
• 16:05
  and we kind of need the people to build the airplanes and build
• 16:08
  the automobiles if we're going to move the civilization
• 16:11
  forward. Volatility is Satoshi's gift to
• 16:14
  the faithful. Are you willing to withstand
• 16:16
  manipulation if it does happen like we've seen with silver?
• 16:18
  Or are you going to wait it out and get the real reward at the
• 16:21
  end? It's going to be a battle, but
• 16:23
  even still, we have a lot to be thankful for.
• 16:26
  Look at the prices of Bitcoin every Thanksgiving and think
• 16:29
  what will happen the next 16 years?
• 16:31
  Will you take part of it or are you going to get out early?
• 16:33
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• 16:36
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