Latest / Simply Bitcoin / Blackrock INSIDER Reveals their UNTHINKABLE Bitcoin Plan | EP 1083

Transcript

Blackrock INSIDER Reveals their UNTHINKABLE Bitcoin Plan | EP 1083 · Simply Bitcoin

• 0:00
  I have a BlackRock insider went on national news yesterday and
• 0:04
  dropped a Bitcoin bombshell. Despite what many people think
• 0:08
  this is this is not just another Bitcoin bull dropping bullish
• 0:12
  Bitcoin stories. There's actually a lot more to
• 0:15
  the story. Before we dive into the rabbit
• 0:17
  hole, here's a clip of the video itself.
• 0:20
  Let's check it out. Here we go.
• 0:23
  The sell, when you think about the retail investor base that
• 0:25
  can get into this, if you're trying to tell them it's a
• 0:27
  digital gold, that the volatility is still so high and
• 0:31
  many people don't understand exactly what it is at the end of
• 0:34
  the day, is it something that will eventually.
• 0:36
  Be used as more payment methods moving.
• 0:39
  Forward across different parts of the.
• 0:40
  World, is it something that you hold and never sell, right?
• 0:43
  How do you then make that case to a generation of people who
• 0:46
  have not gotten into this asset? Sure.
• 0:49
  Well, when you think about Bitcoin, we think of it
• 0:51
  primarily as an emerging global monetary alternative, right?
• 0:54
  It is a scarce global decentralized non sovereign
• 0:59
  asset and it is an asset which has no country specific risk,
• 1:03
  has no traditional counterparty risk.
• 1:05
  So these are interesting properties when you think of it
• 1:08
  from an investment perspective, particularly in a world where
• 1:12
  there's growing concerns over, you know, money printing,
• 1:16
  currency debasement risks, political fiscal sustainability
• 1:20
  challenges in the US or elsewhere.
• 1:23
  And so that resonates frankly with a lot of investors.
• 1:26
  Goes back to what we talked about earlier with the risk on
• 1:29
  piece. It confuses investors when
• 1:31
  people talk about it as risk on because based on the properties
• 1:33
  that I just described, you would think of it as risk off and
• 1:36
  that's where I think it. Has a marketing.
• 1:38
  Problem. So you could say that.
• 1:40
  And so, you know, the reality is there's probably two or three
• 1:43
  things a year that happened typically that actually impact
• 1:47
  the fundamental value of Bitcoin.
• 1:48
  This year, I would argue there's been 4.
• 1:50
  But that makes it hard to write daily stories, right?
• 1:53
  And so you see this instinct to kind of point to whatever is
• 1:56
  happening in equities or unemployment or jobs numbers or
• 2:00
  manufacturing, which really has no connection to Bitcoin.
• 2:03
  So I'm joined here on the panel with my host, Optimus Fields,
• 2:07
  and our guest for today, Greer from Foundation Devices, the
• 2:12
  manufacturer of the Passport hardware wallet.
• 2:15
  And yeah, man, crazy that the BlackRock BlackRock continues to
• 2:19
  just beat the battle drum. And then this, this him going on
• 2:22
  TV comes on the heels of Black Drop dropping a massive 9 page.
• 2:28
  I believe it. I believe it was nine page, a
• 2:31
  nine page report on Bitcoin basically saying all the talking
• 2:35
  points, basically saying that look, there's a fixed supply, 21
• 2:39
  million, this is near instantaneous global transfer of
• 2:43
  value, the first truly Open Access global monetary system.
• 2:47
  Those are all their words, not mine.
• 2:50
  Of course, the volume starting to pick up this month or 99
• 2:55
  million in inflows yesterday, the highest in a month.
• 2:59
  And if you combine BlackRock and Spit and Fidelity, they did a
• 3:03
  combined $869,000,000 in trading volume just yesterday.
• 3:09
  Of course, bitcoins pumping. We have the news from China
• 3:12
  coming out how they're lowering interest rates.
• 3:14
  The central Bank of China, we had the Fed announcing that they
• 3:17
  lowered interest rates. A lot of people were expecting a
• 3:20
  25 basis point lower, but it was actually A50 basis points, 50
• 3:25
  basis points that were lowered in interest rates.
• 3:28
  So I mean, it's just bullish overall.
• 3:30
  I think this sets up a this all the, all the planets are
• 3:33
  aligning for a magical Q4 in terms of bitcoins price action.
• 3:39
  So anyways, I do want to pass it on to our guest today, Greer.
• 3:42
  Greer, what are your thoughts on this man?
• 3:44
  Like, it's crazy that BlackRock is working for us.
• 3:48
  Like BlackRock is, is, you know, becoming 1 of bitcoins best
• 3:53
  marketing companies. Just, you know, whether it's
• 3:56
  Larry Fink, whether it's executives that work with
• 3:58
  BlackRock, whether it's BlackRock reports, you know,
• 4:02
  like I think they're going to start releasing Bitcoin memes
• 4:04
  very soon. So what are your thoughts?
• 4:08
  Yeah, I think it's a great point.
• 4:09
  BlackRock is doing some of the heavy lifting for us.
• 4:12
  I think that their voice is reaching people that Bitcoin
• 4:15
  Twitter is not able to reach. You know, I know that we're
• 4:18
  putting out memes constantly throughout the day, speaking to
• 4:21
  ourselves, really reinforcing what we know to be true that
• 4:25
  Bitcoin is inevitable, that it is decentralized, it's
• 4:29
  permissionless. And seeing these big players get
• 4:32
  into it and really say that it's a place where you don't have to
• 4:35
  experience risk in a way that we know to be true.
• 4:39
  But hearing it come from, you know, the the major television
• 4:42
  cable news channels, it's new, you know, we knew it was coming,
• 4:46
  but it's really fascinating to watch it play out.
• 4:49
  I think it's incredible to see people who are articulate, who
• 4:53
  can explain what Bitcoin is from the people that we might least
• 4:57
  have expected it. You know, so many people thought
• 5:00
  that Black Rock was going to Co opt Bitcoin even though they can
• 5:03
  only grab even if they took all of it, 7% of the available
• 5:06
  Bitcoin, which is a small amount.
• 5:08
  You know most of it's held in the hands of regular people.
• 5:11
  So to see them really cheer on that this asset is something
• 5:17
  that can protect you from all the uncertainty is just really
• 5:21
  incredible to watch unfold. A. 100% and they just continue
• 5:24
  to beat the battle drum like over and over and over again.
• 5:28
  And they're using the talking points of Bitcoin Twitter,
• 5:31
  they're using the talking points of, you know, the Bitcoin ethos
• 5:35
  and they're saying that on legacy media, which is
• 5:38
  absolutely insane. I mean, this report that we're
• 5:41
  going to get to during the numbers segment, they it's a
• 5:45
  nine page report. Someone mentioned in the
• 5:47
  comments, you know, what report was also 9 pages, the Bitcoin
• 5:52
  white paper. Is that a coincidence?
• 5:55
  Maybe I would, you know, there's there's no coincidences, but
• 5:58
  there's also no conspiracies. Anyways, guys, if you're
• 6:00
  enjoying the show so far, make sure to smash that like button.
• 6:03
  Help us break 100 likes within the 1st 15 minutes of the show.
• 6:08
  Opti, I mean, it shouldn't surprise you at this point, I
• 6:11
  think they should just hire you Opti, to just show up in your
• 6:14
  hoodie and your Bitcoin hat of the day.
• 6:17
  Just go on legacy media and cuz I mean, I feel like they're
• 6:21
  saying a lot of the things that we're saying.
• 6:23
  Yeah, I mean, I think, I think I saw Steven Lubka kind of
• 6:26
  trolling yesterday. And there's a lot of Bitcoiners
• 6:29
  out there that that are trolling about too many Bitcoin podcasts.
• 6:32
  And all people need to do is, is start pumping Bitcoin podcasts
• 6:36
  out there. But it really does seem like
• 6:39
  BlackRock and all of their institutional managers out there
• 6:42
  that are starting to shield Bitcoin have actually, you know,
• 6:46
  devoured all of the Bitcoin content, whether they're
• 6:48
  listening to Bitcoin content, listening to Bitcoin podcast or
• 6:52
  just reading the really good reports that have been laid out
• 6:55
  there. They are sounding like
• 6:57
  Bitcoiners. And I saw Mike Hobart, our buddy
• 7:00
  in the chat saying that Bitcoin doesn't have a marketing
• 7:02
  problem. I would kind of argue the
• 7:04
  opposite. I, I do kind of think that
• 7:06
  Bitcoin does have a marketing problem.
• 7:08
  Bitcoiners aren't the best marketers when it comes to
• 7:11
  shilling Bitcoin and an angling in a way so that people do
• 7:15
  understand the, the value proposition of Bitcoin.
• 7:17
  Sometimes we kind of get lost in the weeds and I think we do do a
• 7:21
  disservice to a lot of people because we just like start
• 7:24
  spewing every fact about Bitcoin versus kind of tapping into
• 7:28
  people's minds and understanding where they are and what their
• 7:30
  pain points are. But it is really nice, like
• 7:33
  Greer said, to see on the corporate press as as much as us
• 7:37
  young people don't really watch, you know what, I, I didn't catch
• 7:40
  where this was it, was it like CNBC or MSNBC or something like
• 7:43
  that? But it was Bloomberg's.
• 7:45
  Piece. Oh, it was on Bloomberg.
• 7:46
  OK, sorry. So even though we don't watch
• 7:48
  the, the news or the television as much, I, I think it's like a
• 7:52
  stat now that very few people under 40 are watching
• 7:55
  television. We get all of our content from
• 7:57
  social media and we've, you know, watch all of our content
• 8:02
  either from YouTube, stuff like this.
• 8:04
  It is very important, I think to get people out there as much as
• 8:08
  we kind of troll people in the suits and we were just joking
• 8:11
  about us and hoodies every single day talking about
• 8:13
  Bitcoin. It does come across a little
• 8:16
  more powerful when people in the suits that do manage a lot of
• 8:19
  money are coming out here and saying like yo, you need to buy
• 8:22
  some Bitcoin Because of these properties that we talk about
• 8:25
  constantly on the show, whether it's censorship resistant,
• 8:28
  permission list, 21 million hard cap, all of the Bitcoin memes.
• 8:32
  It really emphasizes the point that Bitcoin is maturing.
• 8:35
  It is something that you need on your portfolio, whether it's one
• 8:39
  percent, 5% or what we would argue going all in if you are
• 8:42
  under 30. But I think it does stress the
• 8:46
  point that even though we kind of give the suits a lot of
• 8:50
  Flack, the fact that they are here does kind of emphasize all
• 8:54
  the things we're saying and they're not saying anything
• 8:56
  different than we're saying. It's just he's on a suit on
• 8:59
  television. He talks a little slower.
• 9:01
  It seems a little more sober than when we come on here and
• 9:04
  lose our minds. It's more articulate.
• 9:06
  You know a. Little more.
• 9:07
  Articulate. More calm, right?
• 9:08
  He's a little more calm. He's clean shaved anyways.
• 9:12
  It makes our points even stronger, 100% saying exactly
• 9:15
  what we've been saying for years on this show.
• 9:17
  And now because he's got a suit, people are taking him seriously.
• 9:20
  So hey, get your Bitcoin news. Wait, tomorrow's Bitcoin news.
• 9:24
  Today on Simply Bitcoin. Absolutely.
• 9:26
  And I just want to mention specifically the name of the
• 9:28
  gentleman is Robbie Mitchnick and he is the head of Digital
• 9:32
  Assets at BlackRock. So this is definitely a heavy
• 9:35
  hitter in terms of the Black Rock organization, but there is
• 9:39
  something specifically that I wanted to focus on.
• 9:41
  Of course, he said it was scarce.
• 9:43
  Of course he said it was global. Of course he said it was
• 9:45
  decentralized. But the one that I wanted, the
• 9:47
  part that I wanted to focus on is non sovereign asset.
• 9:52
  So you have one and of course you guys know that the theme of
• 9:55
  the show will be your guide through the separation of money
• 9:57
  and state. The fact that we have one of the
• 10:00
  no, the largest asset manager in the world, right?
• 10:04
  It has tremendous amount of political influence and just
• 10:08
  influence in general promoting a non sovereign asset is bonkers
• 10:16
  in my opinion. What are the implications of
• 10:18
  that? Because they, they, they
• 10:21
  wouldn't be saying that if they didn't feel like it was going to
• 10:24
  be beneficial to that beneficial to them.
• 10:28
  Of course, one of some of the, and we'll get to the BlackRock
• 10:31
  report in a second during the numbers segment.
• 10:33
  But I want to get your thoughts on that, Greer.
• 10:36
  Like, I mean, we're making, we're making headwinds.
• 10:39
  The fact that BlackRock is, is talking about a non sovereign
• 10:43
  asset. How long until they say it's a
• 10:45
  non sovereign currency? Yeah, that's a great point.
• 10:50
  Non sovereign. You know, there's so much
• 10:52
  uncertainty with what's happening in the US, with Japan,
• 10:56
  with every country, really. We don't know what the future
• 10:59
  holds, but we know that it's going to be uncertain when it
• 11:02
  comes to Fiat currencies. You know, we know that the Fiat
• 11:06
  currencies might last 50 years, maybe a little bit longer, but
• 11:10
  they probably will not last forever.
• 11:12
  And a new status has to emerge. You know, we know from Safety
• 11:17
  Dean and some of the other, you know, luminaries that money
• 11:20
  arrives spontaneously. And with the digital world that
• 11:23
  we're not living in, it only makes sense.
• 11:27
  It's only logical that something that no country can't control
• 11:31
  will be the standard that all countries use.
• 11:33
  You know, with Bitcoin, there is no trust.
• 11:36
  You can verify the amount of Bitcoin you own.
• 11:39
  You can run your own node. You can mine it at home or if
• 11:42
  you're a country, mine it in your own within your own
• 11:45
  borders. And you don't have to rely on a
• 11:49
  presidential election or a change in power.
• 11:52
  You don't have to rely on a country's gross domestic
• 11:55
  product. You have, you don't have to look
• 11:57
  rely on whether or not they're good at collecting taxes.
• 12:00
  You know, the, the institutions that make money stable or make
• 12:04
  the dollar stable or appear to be stable, You know those are no
• 12:08
  longer part of the equation. Today with Bitcoin, we have
• 12:11
  something that is completely different.
• 12:14
  It's not issued by the government.
• 12:16
  It's free to participate. Nobody forces you to purchase to
• 12:20
  to mine it, to hold it, to sell it.
• 12:22
  It is, it is completely up to you.
• 12:24
  And that has to be attractive in a situation where we find
• 12:28
  ourselves today, where there is war around the world, there's
• 12:31
  uncertainty. And I think there's a sense, as
• 12:34
  I spend a lot of time on social media, there's a sense that
• 12:37
  something is coming. We don't know what.
• 12:40
  And if you have that fear, if you have that uncertainty, you
• 12:43
  know, Bitcoin is really the most certain thing that you can find
• 12:47
  in an uncertain world. So to me, we're only going to
• 12:50
  continue to see people discover this.
• 12:53
  And you know, back to the marketing question, I think
• 12:55
  that's right. We, we and as Bitcoiners have
• 12:58
  done so much work. I think, you know, the 100
• 13:01
  hours, the 1000 hours, whatever it is for you that it is
• 13:04
  continually very hard to distill all the things Bitcoin is so
• 13:08
  that someone who's never studied it can get it instantly.
• 13:11
  So I welcome, you know, anyone who can put a softer spin on
• 13:16
  what the opportunity is. But I think as we we continue to
• 13:19
  see worldwide uncertainty, you know, Bitcoin will emerge as
• 13:22
  something that's very attractive. 100% guys stay tuned
• 13:26
  because we're still going to uncover and reveal a lot of the
• 13:30
  things that were said in this nine pick coincidentally 9 page
• 13:34
  BlackRock report and again, it sounds like as if it was coming
• 13:38
  from Bitcoin Twitter. So stay tuned.
• 13:40
  We'll be right back. But before we get into it, I do
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  All right, everybody, let's hit the numbers.
• 15:09
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  simply, you got 15% off anything on the store at the time of
• 16:05
  recording The Bitcoin prices 63,640 sats per dollar 1571
• 16:11
  block height 862,832 Realize monetary inflation 1.35% Market
• 16:18
  capitalization 1.26 trillion Bitcoin versus gold market cap
• 16:23
  6.82%. This money supply of Bitcoin is
• 16:26
  currently sitting at 19,758,633 BTC and that is roughly 94% of
• 16:36
  the supply anyways, absolute scarcity is absolutely
• 16:40
  beautiful, isn't it? Absolutely.
• 16:42
  All right everybody. So let's get to the report that
• 16:44
  was dropped by BlackRock again, it was a nine page report.
• 16:48
  The name of report is Bitcoin, a unique diversifier.
• 16:52
  I think the importance of this for everyone to know is that
• 16:55
  this report was sent to institutional money managers all
• 17:00
  around the world. This isn't a report that was
• 17:03
  sent to Bitcoin, Twitter or other bitcoiners.
• 17:06
  This is a report that was sent to other institutional
• 17:09
  investors. And of course, once it has the
• 17:11
  name BlackRock behind it, it holds a lot of legitimacy in the
• 17:15
  traditional financial world. And let's get to some of the
• 17:19
  notable things that were said in the report.
• 17:21
  Here's one of the infographics that I thought was really
• 17:23
  interesting. the IT it asks the question, what makes Bitcoin
• 17:27
  relevant? So it says persistent historical
• 17:31
  challenges around money. So it is identifying that money
• 17:35
  is broken. Their BlackRock is saying hey,
• 17:39
  the money is broken. This is why Bitcoin is
• 17:42
  important. Isn't that interesting now
• 17:45
  connect that with the video that we played you guys in the
• 17:48
  beginning where Robbie Michnik, the head of digital assets at
• 17:53
  BlackRock, was calling Bitcoin a non sovereign asset.
• 17:58
  Putting the pieces together right?
• 17:59
  You see where the direction that this is going and then that kind
• 18:02
  of explains operation choke .2 point O.
• 18:06
  That kind of explains a lot of the hostility that you're
• 18:09
  getting from certain nation states from the regulatory
• 18:12
  front, because I think they see the writing on the wall.
• 18:15
  And I got to say that when this ETF was approved, Gary Genser
• 18:20
  was not happy, Elizabeth Warren was not happy.
• 18:24
  These are things that were approved because BlackRock holds
• 18:28
  so much political influence that they were able to get it
• 18:31
  through. If it was anyone but BlackRock,
• 18:33
  this wouldn't have been possible anyways.
• 18:36
  So here are a lot of the cases that they were making.
• 18:38
  And again, one of the things that I want to emphasize is the
• 18:41
  aligned incentives of Bitcoin, which is very unique to Bitcoin.
• 18:47
  I would say Fiat is a 0 sum game.
• 18:49
  There's winners and mostly losers.
• 18:51
  I would say Bitcoin, everybody wins.
• 18:54
  No one has special privileges. So now you have Michael Saylor's
• 18:59
  incentives aligned with yours. Now you have BlackRock, Larry
• 19:03
  Fink, their incentives aligned with yours somewhat because
• 19:07
  they're not selling spot Bitcoin, they're selling ETF
• 19:09
  Bitcoin. But still they're still
• 19:11
  promoting Bitcoin, they're still they're still spreading
• 19:15
  Satoshi's gospel. So let's focus on a couple of
• 19:18
  these things. Persistent historical challenges
• 19:20
  around money. Prone to inflation and
• 19:22
  debasement given a non flick supply 2.
• 19:25
  Difficult to transact across borders 3.
• 19:28
  Access limited to one's particular country, controlled
• 19:31
  by a central authority. He goes on to say what Bitcoin
• 19:34
  made possible. Fixed the maximum supply of 21
• 19:38
  million units, with supply growth declining every four
• 19:40
  years. Digitally native and borderless
• 19:43
  permitting near instantaneous global transfer of value.
• 19:47
  First truly Open Access global monetary system.
• 19:52
  That puts governments in quite a pickle, doesn't it?
• 19:55
  Right when you have one of the most powerful asset, man, no,
• 19:58
  the most powerful asset manager in the world.
• 20:01
  A tremendous amount of influence, basically saying
• 20:03
  like, hey, Bitcoin fixes money. Bitcoin is a superior monetary
• 20:08
  system. Of course they're doing this
• 20:11
  because they see what Michael Saylor is doing.
• 20:14
  Michael Saylor adopted the Bitcoin strategy and his company
• 20:17
  micro strategy is outperforming the rest of the SNP.
• 20:22
  So Larry Fink and BlackRock are just following their incentives
• 20:26
  and unfortunately for central bank, for central banks and
• 20:30
  governments, all of a sudden Blackrock's incentives don't
• 20:33
  align with theirs again because Bitcoin comes into the picture.
• 20:37
  It's just it's fascinating to see and of course I don't think
• 20:40
  BlackRock can resist NGU technology.
• 20:43
  Another thing that I found quite interesting is Bitcoins returns
• 20:49
  despite major geopolitical events.
• 20:53
  So as we can see the US, Iran escalation in January 3rd, 2020,
• 20:58
  the SNP actually fell 7%, gold went up 6%.
• 21:02
  BlackRock, I mean the Bitcoin went up 20% during the pandemic,
• 21:06
  the SNP 2%. The 10 day return was even
• 21:10
  worse, down 20%, gold 9%, Bitcoin down 25%.
• 21:15
  But the 60 day return during the pandemic, the SNP up 2%, gold up
• 21:21
  3%, Bitcoin up 21 percent. 2020, that really, really hectic
• 21:27
  election. The SNP went up 12%, Gold went
• 21:31
  up, Gold went down 1%, and Bitcoin pumped 131 percent.
• 21:38
  The Russia invasion of Ukraine, the S&P went up 3%, Gold only
• 21:43
  9%, Bitcoin 15%. the US regional banking crisis is this one
• 21:47
  Silvergate and all those banks went down.
• 21:50
  The S&P went up 4%, Gold went up 11%, Bitcoin went up 32% to the
• 21:57
  point that BlackRock, not Bitcoiners are trying to make.
• 22:01
  I'll read it here from the report.
• 22:03
  Bitcoin as the first to centralized.
• 22:05
  Again, they're using that word non sovereign monetary
• 22:09
  alternative to gain widespread global adoption, has no
• 22:13
  traditional counterparty risk, depends on no centralized
• 22:16
  system, and is not driven by anyone country's fortunes.
• 22:20
  These properties make it an asset that is largely detached
• 22:24
  from certain certain macro risk factors, including banking
• 22:28
  system crises, sovereign debt crises, currency debasement,
• 22:33
  geopolitical disruption, and other country specific political
• 22:37
  and economic risks. Over the long term, Bitcoins
• 22:40
  adoption trajectory is likely to be driven by the degree to which
• 22:44
  concerns rise and fall over global monetary and stability,
• 22:49
  geopolitical disharmony use, US fiscal sustainability and US
• 22:54
  political stability. Because of these attributes,
• 22:58
  Bitcoin has been seen by some investors as a flight to safety.
• 23:03
  We've heard Larry Fink say this on TV as well.
• 23:06
  In times of fear amid some of the most disruptive global
• 23:10
  events over the last five years. Notably, in some of these
• 23:14
  instances, bitcoins first exhibit a temporary negative
• 23:18
  reaction before subsequently rallying.
• 23:21
  In our view, these short term trading reactions, which are
• 23:24
  often difficult to explain on fundamentals can be attributed
• 23:27
  to a combination of one. The fact that Bitcoin is an
• 23:31
  asset that trades 24/7 and settles to cash near
• 23:34
  instantaneously, making it a highly salable asset during
• 23:38
  periods of stress liquidity in traditional markets,
• 23:41
  particularly over weekends, to a function of the still immature
• 23:46
  nature of Bitcoin and crypto asset markets and of investors
• 23:50
  understanding around Bitcoin. So it's really interesting the
• 23:53
  way that they explain it because it's like, yeah, these negative
• 23:56
  events like we had this crazy crash that happened a couple
• 24:01
  weeks ago or so yeah, Bitcoin fell hard, but it also recovered
• 24:06
  even harder. And the reason that BlackRock is
• 24:10
  basically trying to make the case that, look, that's a
• 24:12
  feature, not a bug, the reason that that happens in Bitcoin is
• 24:16
  because it trades literally 24/7.
• 24:19
  It settles to cash nearly instantaneously.
• 24:22
  And if you compare that with the traditional markets, they're
• 24:25
  only open Monday through Friday and during certain time periods.
• 24:30
  So that is a feature, not a bug. Jack Mahler's has made the case
• 24:34
  of this as well. And now Black Rock, right?
• 24:37
  And now what I, what I want you guys to take away from today's
• 24:40
  episode, the part that makes me feel so bullish is the fact that
• 24:45
  they're dropping the, the term not only on the media, but also
• 24:49
  on these reports, the report that coincidentally is the same
• 24:52
  amount of pages as the white paper.
• 24:54
  They're using the term non sovereign alternative, Non
• 25:01
  sovereign alternative. So they're literally making the
• 25:04
  case for the separation of money and state.
• 25:07
  Not Bitcoiners on YouTube and X and Rumble and Noster, but
• 25:11
  BlackRock, the most powerful asset manager in the world, is
• 25:16
  making the case as to why Bitcoin is a better money than
• 25:20
  Fiat currencies. Maybe not in a direct way, but
• 25:24
  they're doing it indirectly. And of course, are they doing
• 25:26
  this out of the kindness of their heart?
• 25:28
  No, they're doing this because they're working for us.
• 25:30
  They own Bitcoin. They want Bitcoin to go up.
• 25:33
  They want more people to buy Bitcoin so that they make more
• 25:36
  money. Isn't aligned incentives
• 25:38
  absolutely beautiful? Just want to give a shout out to
• 25:41
  Larry Fink for Employee of the Month Opti.
• 25:45
  Love it love it. I think my biggest take away
• 25:48
  from this was I I think it was .6 where they are saying that
• 25:54
  Bitcoin is an alternative monetary network or monetary
• 25:58
  system, which I think kind of flies in the face of of the the
• 26:01
  current view of Bitcoin as just some.
• 26:03
  You know, an asset, something that you want to hold something
• 26:06
  that you don't spend, you know, store value asset.
• 26:09
  All the stuff we've been hearing in regards to Bitcoin the last
• 26:11
  couple years, but in this report it is kind of showing or at at
• 26:15
  least you know if you read between the lines that Bitcoin
• 26:18
  will be an alternative monetary network.
• 26:20
  It is a currency, it is the best money in the world.
• 26:23
  And again, as we keep saying, it is very interesting to see that
• 26:27
  BlackRock is aligned with their incentives in regards to every
• 26:31
  single one of us as hodlers of Bitcoin.
• 26:34
  Yes, there is still concern whether they're going to try to
• 26:36
  like fork the network or Co opt the network, but I think in the
• 26:39
  short term they are incentivized to see their ETF products
• 26:42
  succeed. And it's already been, I believe
• 26:44
  it is confirmed and without a doubt the best performing ETF
• 26:49
  asset ever. And this is all because of the
• 26:52
  properties of Bitcoin. And now we have them going out
• 26:55
  on not only in the reports, but I forget the number, it's
• 26:58
  something like 1500 of their institutional asset managers
• 27:02
  educating their clients about Bitcoin.
• 27:04
  They're going on corporate press saying all the things we've been
• 27:07
  saying. So when they talk about Bitcoin
• 27:09
  and they drop reports like this, it does hold a little more
• 27:12
  weight than, you know, two Youtubers talking about Bitcoin
• 27:15
  every single day. So even though they're saying
• 27:18
  the same thing we're saying, you just love to see that they're
• 27:20
  continuously spreading the Bitcoin memes, though.
• 27:23
  I think there is I mean, maybe as bitcoiners would argue
• 27:27
  differently, but I, I think there is a a bit of a mistake
• 27:30
  here in thinking that Bitcoin reacts to all of these different
• 27:34
  geopolitical events. Yes, Bitcoin is the most liquid
• 27:36
  asset in the world. So it does react in real time
• 27:39
  and also bounces back really well in regards to that.
• 27:43
  But I think we're still in the four year cycle, you know,
• 27:46
  theory layout right here. So Bitcoin really reacts because
• 27:49
  of the four year cycles and the halving cycles.
• 27:51
  And yes, you could always connect that to different
• 27:53
  geopolitical events, but it's really the four year cycle
• 27:56
  though. Another report that just dropped
• 27:58
  yesterday, Nico, was this report by Lynn Alden and Sam Callahan.
• 28:03
  And I think this might be a lot closer to what Bitcoin does
• 28:07
  react to. And here actually I can pull it
• 28:10
  up so we can just kind of kind of read it real quick and I'm
• 28:12
  not going to read the report, but just the take away from it.
• 28:15
  So Lynn just dropped this report.
• 28:16
  Do you guys know Lynn Alden? Of course, she wrote Broken
• 28:19
  Money. She's great.
• 28:21
  The the TLDR of this report is basically the result is that
• 28:25
  Bitcoin moves in the direction of global M 283% of the time,
• 28:29
  which is basically what we tell you guys here all the time, that
• 28:32
  Bitcoin reacts to the expansion of the money supply.
• 28:35
  And this is what's actually going on.
• 28:37
  The more they debase the currency, the more liquidity is
• 28:40
  eventually going to end up in Bitcoin because as what was this
• 28:43
  guy's name, what you put it over here?
• 28:45
  Robbie Mitchnick said. People are looking at the system
• 28:49
  and there is concerns in regards to the Fiat system and people
• 28:52
  are getting a little worried. Maybe that signal isn't fully
• 28:55
  out there yet, but the smart people in the room, which I
• 28:58
  would say is every one of you guys out there as well,
• 29:00
  understands what the game is. They have to keep printing more
• 29:04
  money. They have to keep debasing the
• 29:05
  currency. They have to keep trying to
• 29:07
  inject capital into the system to keep it going.
• 29:11
  And the best way to protect yourself, the best way to not
• 29:13
  have fun staying poor is by saving in Bitcoin and taking it
• 29:16
  into custody, maybe on something like a, you know, a foundation
• 29:20
  device, you know, something like that.
• 29:22
  But yeah, let's pass it to Greer.
• 29:23
  We've been ranching for a minute.
• 29:25
  No, I think that's great for me, you know, it feels like the
• 29:28
  clock is ticking. You know, we have BlackRock in
• 29:30
  the game, we have the other ETFs and everyone seems to be
• 29:34
  accumulating Bitcoin. This probably cannot go on at
• 29:38
  this pace for much longer. So if you are a pleb, if you're
• 29:42
  a regular person or just someone who you know has a job in a four
• 29:46
  O 1K, it probably makes sense to get a little bit of Bitcoin just
• 29:50
  in case it continues to catch on as we're seeing, you know, today
• 29:54
  it is so easy to purchase Bitcoin and at foundation, you
• 29:58
  know, we believe that with Passport, we've made it even
• 30:00
  easier to to keep that Bitcoin offline.
• 30:03
  You know, our device is unique. It's air gapped, meaning it
• 30:07
  never touches the Internet and it's open source, both the
• 30:11
  software and the hardware and it feels like a classic phone.
• 30:17
  You know that you can really use the minute that you start it up
• 30:22
  because it uses QR codes, there's no security risk.
• 30:26
  It really is what we think is the most beautiful Bitcoin
• 30:30
  device and what we, you know, want to want to make sure people
• 30:34
  know is that if you're keeping your coins on an exchange or in
• 30:38
  the ETF, that's not really your Bitcoin.
• 30:40
  You have an IOU, you have a piece of paper, and for some
• 30:45
  reason that maybe we can't foresee that might not be yours
• 30:49
  in the future. So really the, the best things
• 30:52
  to do are to acquire whatever amount of Bitcoin you're able
• 30:56
  to, which could be as small as, you know, $10 a week, but
• 31:01
  purchase that Bitcoin, move it into cold storage and hold it
• 31:04
  there. You know, the one of the things
• 31:07
  when we talk about monetary debasement, what we're really
• 31:10
  talking about is the money that you spend every day, the money
• 31:13
  that you earn for your job that's really eroding all of the
• 31:17
  ground underneath your feet. Your purchasing power is
• 31:21
  declining and you are not able to really meet the needs of of
• 31:26
  your daily life. When you are working on a dollar
• 31:30
  standard, when you're earning dollars, spending dollars and
• 31:34
  when they are inflating them, you know the ground really is
• 31:36
  eroding around you. What's beautiful with Bitcoin is
• 31:39
  that because it preserves your purchasing power into the
• 31:42
  future. As the ground is eroding, as the
• 31:45
  Fiat is debasing, Bitcoin is really giving you wings so that
• 31:49
  you are able to to fly when you are you know, when you otherwise
• 31:55
  would have been falling. And to me, this is what's so
• 31:59
  amazing that we have an opportunity to preserve our
• 32:02
  energy and our wealth and our time in something that can't be
• 32:06
  debased, something that can't be inflated away.
• 32:10
  There's, there's really nothing like it.
• 32:12
  And with Passport, you know by the company that I work for,
• 32:17
  we've really given you the tools to to make this a reality.
• 32:21
  While you have to live in the Fiat system to an extent, you
• 32:26
  can start planning for a better future based on Bitcoin.
• 32:30
  If if we see the continuation of of all of these different
• 32:35
  entities purchasing and acquiring Bitcoin, it really
• 32:38
  shows that this trend is going to continue.
• 32:41
  There's only a limited amount. If you've spent any time on
• 32:44
  Bitcoin Twitter, you know that we have compared the amount of
• 32:48
  millionaires that exist in the world to the amount of Bitcoin
• 32:51
  that's left. And even if the 21 million
• 32:54
  Bitcoin were distributed evenly across every millionaire in the
• 32:57
  world today, they would all have .4 or less because Bitcoin is so
• 33:02
  scarce, even a small amount of Bitcoin, 10 million SAT's could
• 33:08
  be a really, really impactful amount in the not too distant
• 33:12
  future. So I think what makes us really
• 33:15
  excited is that the tools that we have today have really come
• 33:19
  so far. They're they're much easier to
• 33:21
  use. It's easy to verify.
• 33:23
  It's completely separated from the Internet.
• 33:27
  And that's really where you want to be storing your wealth and
• 33:31
  your time and your energy. Amen to Amen.
• 33:33
  Beautiful, beautifully, beautifully said guys, stay
• 33:36
  tuned. We still have a lot of stuff to
• 33:38
  cover. For example, Bill Maher's
• 33:40
  absolute failure on on his show, I think it was it aired
• 33:45
  September 20th, where he just basically went after the
• 33:49
  industry and how the industry was using way too much it.
• 33:53
  He he claimed that that Bitcoin was using 8% of global
• 33:58
  electricity and of course he got absolutely community noted point
• 34:02
  blank and this is what we talk about when we say information
• 34:05
  narrative trench warfare on the battlegrounds of the Internet.
• 34:09
  It is so important to make your voice for because I, I swear if
• 34:12
  you just go down the comment section, you know, Bill Maher
• 34:16
  tweeted this. He just gets absolutely owned in
• 34:20
  50 different ways and then it eventually it led to a community
• 34:23
  note. This is in my, my opinion, a
• 34:26
  professional propaganda attack against the industry.
• 34:32
  Make no mistake. Some updates on Operation Choke
• 34:35
  .2 point O. Also, Warren Davidson actually
• 34:39
  names Operation Choke .2 point O while he's grilling Gary
• 34:43
  Gensler. And it's also been discovered
• 34:46
  that Senator Elizabeth Warren shared her planned questions
• 34:50
  with Gary Gensler before a 2021 Senate bank hearing.
• 34:55
  So I mean, lots of stuff to get to.
• 34:58
  And of course the Russian warlord who was behind when
• 35:02
  Putin invaded Russia, he, he hired a bunch of mercenaries.
• 35:06
  Apparently the Russian warlord that one of those mercenaries
• 35:10
  was using JP Morgan and HSBC for some of their payment.
• 35:16
  But of course it's always Bitcoin that is used for the
• 35:19
  malicious stuff if you are to believe the government
• 35:22
  propagandists. Anyways guys, stay tuned for the
• 35:24
  news segment. We have a lot of content to get
• 35:26
  to. Let's do this Very special shout
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  Opti, but you will get yourself a beautiful, beautiful open
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  source hardware wallet. It might Nika at a certain price
• 37:41
  that might come with it. Yeah, that is open to
• 37:43
  negotiation. Send us a Twitter DM.
• 37:47
  We have to talk to Greer about that as well.
• 37:49
  Make that part of the package deal.
• 37:51
  Anyways, ladies and gentlemen. So a quick update on Operation
• 37:55
  Choke .2 Point O. The TLDR of Operation Choke .2
• 37:58
  Point O is essentially the case that Caitlyn Long and Nick
• 38:02
  Carter and Simply Bitcoin honestly have been making that
• 38:06
  there's elements of the US government that have been
• 38:09
  colluding to isolate the industry from the traditional
• 38:13
  financial system. First there was the arrest of
• 38:18
  the Tornado Cash developers, which set the precedent.
• 38:21
  Coin Center sued, they lost the case.
• 38:24
  And then shortly after, a month later, the Samurai wallet
• 38:27
  developers got arrested. Why?
• 38:30
  Because they were writing code, privacy code.
• 38:33
  And basically the case that the US government is making is that
• 38:37
  because 2 to 3% of the people that are actively using Samurai
• 38:42
  are, you know, doing it for illicit activities, that makes
• 38:46
  you the developers responsible because you wrote that said
• 38:49
  code. Also, the proposed 30% Bitcoin
• 38:53
  mining tax that was proposed by the Biden administration.
• 38:56
  Of course, that had no chance of being put through, but they
• 38:59
  still proposed it. The attack on self custody.
• 39:03
  And of course, the denial of Caitlin Long's federal banking
• 39:06
  charter for her bank, Custodia Bank, which is a fully reserved
• 39:10
  bank, a fully reserved bank, meaning there's no risks to the
• 39:14
  customers. But it was still denied a
• 39:16
  federal banking charter. Bombshell relevation.
• 39:23
  That Silvergate was liquid and solvent when the Fed forced it
• 39:27
  to close changes everything. When analyzed, the March 2023
• 39:32
  bank failures. Look at the dates.
• 39:33
  So essentially the case that Caitlyn Long and Nick Carter and
• 39:37
  everyone's trying to make is that Silvergate didn't go
• 39:41
  bankrupt. It was actually forced to be
• 39:44
  closed by the Fed and Silvergate.
• 39:47
  Coincidentally, all of a coincidence, all of all of this
• 39:50
  is a coincidence was one of the banks that were friendly towards
• 39:53
  the industry. So was Silicon Valley.
• 39:55
  So was Signature and one of the one of the banks one of the
• 39:59
  last. Crypto friendly banks in the
• 40:01
  United States customers bank, which is the bank that Gemini
• 40:05
  uses, was also the victim of a recent fed action that happened.
• 40:11
  I think it was it was like a month ago or so so it it looks
• 40:14
  like operation choke .2 point O continues in full force and it's
• 40:19
  no longer a theory. It is now confirmed.
• 40:22
  This is the smoking. This is the smoking gun that was
• 40:25
  found and here is Warren Davidson talking about it in
• 40:30
  congressional testimony. Let's check it out.
• 40:32
  So as you highlighted, you meet with the Chairman of the Federal
• 40:34
  Reserve regularly. Do you guys discuss things like
• 40:36
  Operation Choke .2 Point O way to block and restrict market
• 40:40
  certainty for crypto affiliated firms?
• 40:43
  I've never heard that. Term and I'd also want to say.
• 40:49
  Half of the roles that we've adopted, 42 roles, half.
• 40:52
  Of them have actually. Been and some of the work's been
• 40:54
  good, but a lot of it's been bad.
• 40:57
  OK, so Optia, let's release a poll right now.
• 41:00
  Let's ask the let's ask the YouTube audience.
• 41:03
  Do you believe Gary Gensler and his answer?
• 41:06
  And here is another clip of Elizabeth Warren.
• 41:10
  She was discovered to have given some of the questions beforehand
• 41:15
  to Gary Gensler before a 2021 Senate Banking hearing.
• 41:21
  Let's check it out. Senator Elizabeth Warren and her
• 41:25
  office coordinated testimony with the Security and Exchange
• 41:29
  Commission ahead of a Senate hearing.
• 41:31
  The Heritage Foundation Oversight Project, of which I'm
• 41:35
  associated through a FOIA request, obtained emails from
• 41:39
  Warren's office to the office of Chairman Gary Ginsler 2 days
• 41:44
  before his Senate testimony back in September of 2021.
• 41:48
  The e-mail from Warrens economic policy adviser includes a list
• 41:52
  of questions. Get this a list of questions
• 41:55
  that Senator Warren planned to ask along with suggested answers
• 42:00
  for the Chairman of the SEC. The advisor also wrote, quote,
• 42:05
  let me know if you're OK with the questions as currently
• 42:09
  written. Two days later she sent a follow
• 42:12
  up quote. Let me know if it's looking like
• 42:15
  the chair has any issue with the framing of the questions.
• 42:20
  Definitely don't want to put him in a tough spot.
• 42:23
  End Quote. And it appears the chairman
• 42:26
  didn't have any issue with these questions because Senator Warren
• 42:29
  asked almost verbatim from the e-mail.
• 42:32
  Check this out Chair Kensler. Advocates say crypto markets are
• 42:37
  all about financial inclusion. But the people who are most
• 42:41
  economically vulnerable are the ones who are most likely to have
• 42:45
  to withdraw their money the fastest when the market drops.
• 42:48
  Does this sound like the path to financial inclusion to you?
• 42:52
  Like, I mean, bro, bro, bro. OK.
• 42:58
  So I don't know how many different ways we can catch
• 43:01
  Elizabeth Warren. But now that we know for a fact
• 43:05
  that she essentially shut down, and she was partly responsible
• 43:10
  for shutting down a crypto friendly bank, and she had her
• 43:14
  fingerprints on it. And this bank wasn't going to
• 43:17
  shut down because it was going out of business.
• 43:19
  It was forced to shut down. Yeah.
• 43:22
  I mean, makes you ask a lot of questions.
• 43:25
  Here's this great infographic by Caitlin Long.
• 43:27
  And has the architects of of Choke .2 point O has Elizabeth
• 43:31
  Warren here, has Gary Gensler here.
• 43:34
  So I got to say guys like I, I, I, you know, this is, this is,
• 43:38
  this is crazy that this is happening at, you know, those
• 43:42
  heights of the US government or the US government is picking and
• 43:44
  choosing which banks could operate, which banks shouldn't
• 43:49
  operate based on their acceptance of the Bitcoin
• 43:54
  industry. Absolutely nuts, right?
• 43:58
  And of course, that excellent clip by Fox News literally
• 44:02
  showing that Elizabeth Warren was giving the was, was giving
• 44:08
  Gary Gensler the questions before the congressional
• 44:11
  testimony. Then what was the point of that
• 44:13
  testimony? It was all theater.
• 44:16
  It was literally all theater. It was, it was bullshit.
• 44:20
  So like at this point, I, I, I'm telling you guys like fire Gary
• 44:25
  Genser, this is 100% a hit job after everything that's been
• 44:30
  discovered. I think you know, and a lot, a
• 44:33
  lot of people don't like me mentioning this.
• 44:35
  This is why this election coming up is very, very important.
• 44:40
  The fact is that we have a pro Bitcoin candidate, anti CBDC
• 44:44
  candidate and an anti Bitcoin candidate and a pro CBDC
• 44:48
  candidate. And one of the things that Trump
• 44:51
  said at Bitcoin 2024 was that he was going to fire Gary Gensler,
• 44:56
  who has his fingerprints against fingerprints on all of this
• 44:59
  stuff. So it's just crazy.
• 45:02
  And one of the things also that concerned me too, in regards to
• 45:05
  customers bank and the Fed enforcement and the Fed
• 45:08
  enforcement action was that essentially the Fed wants for
• 45:16
  banks to ask permission from the Fed if they want to include
• 45:23
  Bitcoin offer on ramps and off ramps.
• 45:27
  So think about that for a second.
• 45:29
  The established player that has the most to lose if Bitcoin wins
• 45:34
  wants to be the determining factor of who should have a bank
• 45:39
  and who shouldn't have a bank. I mean, that is absolutely
• 45:43
  insane in nine different ways. And one of the talking points
• 45:47
  that they always say is that this is for customer protection.
• 45:53
  This is for money laundering. This is for, you know,
• 45:56
  protecting the public. And then this dropped, which I
• 46:00
  find absolutely hilarious from our favorite legacy media
• 46:05
  outlets, the Financial Times or how we like to call it here at
• 46:08
  simply Bitcoin. The Fiat times here is I can't
• 46:12
  pronounce that name, guys. I'm sorry Yevgeny per Xenene,
• 46:16
  whatever, but he was essentially the leader of the Wagner Group.
• 46:19
  The Wagner Group was the mercenaries that Putin hired in
• 46:23
  order to help invade Ukraine. But check this out.
• 46:29
  So apparently he used JP Morgan and HSBC for Wagner payments.
• 46:35
  Now what's really hilarious is the line that comes after banks
• 46:40
  unwittingly handled transactions for companies in Africa
• 46:43
  controlled by deceased Russian warlord.
• 46:46
  So like, why do banks get to you?
• 46:50
  Like, oh we, we, we didn't know. Why couldn't the samurai guy use
• 46:55
  the same argument? It's like it's rules for thee
• 46:59
  but not for me. It's a different set of rules
• 47:02
  based on the industry. So if it's Bitcoin, no, no, no,
• 47:07
  no. You are a you, you, you, you
• 47:09
  embolden that. You are part of that.
• 47:11
  You enabled that, you're responsible.
• 47:14
  If it's the banking industry, they just didn't know.
• 47:19
  They had no idea it wasn't their fault.
• 47:23
  We'll just that we'll give them a fine.
• 47:25
  So you know, they they could, they could be better next time.
• 47:28
  Like it's so blatant in your face, late stage Fiat clown
• 47:33
  world that they're not even hiding it anymore.
• 47:37
  They're not even hiding the fact that they just don't want this
• 47:40
  industry to succeed because it's a threat to their monopoly on
• 47:43
  money. It's blatant in your face up in
• 47:46
  your grill. They're showing you what the F
• 47:49
  is going on and it's insane. Like, and the fact that they're
• 47:53
  still trying to cover it with an air of legitimacy by releasing
• 47:56
  articles from the Financial Times.
• 47:59
  Like, I just think it's fuck, it's, it's, it's hilarious,
• 48:01
  right? So while our guys are in a
• 48:04
  prison cell, their guys get these nice little puff pieces
• 48:09
  written written about them saying oh they unwittingly
• 48:13
  laundered money for a Russian warlord in Africa.
• 48:17
  JP Morgan, HSBC. I will forget about it though.
• 48:20
  They didn't know. They had no idea that was
• 48:22
  happening. It's not like they made money
• 48:24
  off of it either. How could they?
• 48:25
  No no, our money laundering laws are so effective that none of
• 48:31
  this could have happened in the 1st place.
• 48:32
  Like it is total freaking first time cursing this entire show.
• 48:38
  Bullshit. That's my take, Opti.
• 48:40
  I'm going to let's pass it on to Greer first.
• 48:42
  Greer, what's your take on this? The double standard set, the
• 48:46
  blatant collusion between Elizabeth Warren and Gary
• 48:50
  Gensler. And then like it's, it's
• 48:53
  basically it's, it's like a, it's like a play.
• 48:55
  It's like Hollywood. It's like if Gary Gensler knew
• 48:58
  the questions, if Elizabeth Warren knew the questions, then
• 49:01
  why is she just pretending as if she's asking the questions and
• 49:04
  Gary Gensler doesn't know them? Like it's, it's, it's just
• 49:08
  insane. What are your thoughts?
• 49:09
  Yeah, I think that they're going to do everything they can to
• 49:12
  control the system. They're going to try to control
• 49:14
  Bitcoin, they're going to try to control the way that you think
• 49:17
  about it and the way that its future will be.
• 49:21
  But that's that's what's so great about this network is that
• 49:24
  it's totally voluntary. You know, you can either choose
• 49:27
  to join it or or not. And I think if we are are going
• 49:30
  to make any progress, it's really going to be individual
• 49:34
  people taking hold of their freedom.
• 49:37
  You have the freedom to purchase Bitcoin.
• 49:39
  You have the freedom to store it in your own wallet behind 12
• 49:42
  words that only you know that nobody can can take from you.
• 49:47
  And that's what we have to do. Yes, it will.
• 49:51
  It could and definitely will help you financially over the
• 49:53
  long term. But it's this isn't just about
• 49:56
  money. This isn't just about taking
• 49:58
  money away from the state and and taking power away from those
• 50:04
  who will debase your your energy and your time.
• 50:06
  It's really a much bigger opportunity.
• 50:09
  This is this is a chance to be part of something where you
• 50:12
  exercise your freedom, your freedom to transact.
• 50:15
  So it doesn't surprise me that anyone in the government would
• 50:21
  create sort of a scenario like this where they're really kind
• 50:26
  of keeping the, the true motives hidden from the general public.
• 50:29
  I, I think that we, we need to do the hard work and, and that's
• 50:34
  to evaluate all the opportunities before us and, and
• 50:38
  really be curious what, what is money today?
• 50:41
  Why did, what gives it its value?
• 50:43
  And do we think that it'll continue perpetually?
• 50:47
  For me, I think, you know, I've come to the conclusion about a
• 50:50
  lot of those answers. And so I choose to invest
• 50:53
  anything I can into Bitcoin and hold it for the long term.
• 50:58
  I, you know, it's really the responsibility of, of every
• 51:02
  person in this country to see what's happening and to not just
• 51:06
  go along with it. You know, with, with Bitcoin,
• 51:08
  you can opt out peacefully. Any money that you don't have to
• 51:11
  spend on it, on your daily or weekly or monthly expenses, you
• 51:15
  can put that into Bitcoin, move it outside of the system and
• 51:19
  start working on what's coming and what's what's new.
• 51:22
  It's a far more positive way to approach what I think a lot of
• 51:26
  people we feel feel powerless. Yes, we have elected leaders,
• 51:31
  but they don't always respond and, and behave in the way that
• 51:35
  we would like them to. You know, there's so many
• 51:38
  problems focusing on politics that, that for me, it feels
• 51:41
  like, you know, this isn't even an area where I want to spend
• 51:44
  time. I want to spend time on things
• 51:46
  that will make an impact for me, for my, for my family, for my
• 51:49
  neighbors, for my city. And that's putting energy and
• 51:53
  time into Bitcoin, you know, working on Bitcoin businesses,
• 51:58
  helping people to understand what it offers and how it's so
• 52:02
  different than the financial system we have today.
• 52:06
  I mean, there's a lot of reasons to hope and I think to be very
• 52:09
  optimistic about what's coming. But I think the the frustration
• 52:14
  is that it's not as it's not happening as quickly as we
• 52:17
  wanted it to. You know, we are, we're watching
• 52:19
  this play out in real time and it's hard to tell where we are
• 52:24
  on the board. But but from everything that I
• 52:26
  think we're talking about today and everything that we see, you
• 52:30
  know, we are moving in the right direction.
• 52:33
  You mentioned the the fact that Bitcoin is part of the part of
• 52:37
  the election narrative part of either any candidates talking
• 52:42
  points is really astounding. You know, and and think about
• 52:46
  part of the reasons that Bitcoin, I think, sort of gets a
• 52:49
  bad rapper is fearful for people is from all of the the players
• 52:53
  in the space that were dishonest.
• 52:55
  You know, the FT XS of the world that kept people from really
• 52:59
  discovering Bitcoin and and learning about it and hopefully
• 53:02
  elevating it to where it becomes something that candidates talk
• 53:05
  about will allow people to really say, OK, why is this
• 53:09
  different? Why has this not gone away?
• 53:11
  Why does it continue to reach all time high and near all time
• 53:14
  high? So I, I think when it comes to
• 53:17
  politicians, you know, for a regular person, there's, there's
• 53:20
  really only so much you can do. And Bitcoin is an alternative to
• 53:23
  that. You can have the power to exit
• 53:26
  peacefully and to take a stand peacefully in a way that that
• 53:30
  does matter. 100%, I'm beautifully, beautifully put by
• 53:35
  Greer Opti. What are your two sats on this
• 53:38
  my friend, before we move on to the culture segment and talk to
• 53:41
  Greer about the passport by foundation devices and all the
• 53:45
  all the cool stuff that it will allow you to do.
• 53:47
  Because I know you guys have been working with some some
• 53:49
  multi sig magic so I want to hear about that.
• 53:52
  Well, first of all, am I surprised that this is the case?
• 53:56
  No. I think we've been covering this
• 53:58
  on the show for a long time. We tried.
• 54:01
  It's not surprising, but it's becoming so blatant in your
• 54:06
  face. That is what's surprising to me.
• 54:09
  No, no, I'm not surprised. I've been noticing this since I
• 54:11
  was like 18 years old, Nico, but now it is very obvious.
• 54:14
  It's very obvious now. And I and I think like for us
• 54:18
  Bitcoiners, we obviously know that this is a game.
• 54:21
  And you know, to kind of to echo what what Greer was saying, like
• 54:24
  if you are dissatisfied with the system, if you are starting to
• 54:27
  notice these lies, if you are starting to notice the hypocrisy
• 54:31
  and the doublespeak and the gaslighting from our quote, UN
• 54:34
  quote leaders here that are supposedly control of the
• 54:37
  financial system, then there is an alternative and it is
• 54:40
  Bitcoin. But of course here at simply
• 54:43
  Bitcoin, the fact that we've caught them in, I would argue,
• 54:46
  you know blatant lies on the shelf for a long time basically
• 54:49
  the whole year. Am I surprised no, but every
• 54:51
  time we do catch them in a lie it it kind of makes us feel
• 54:55
  giddy because we're like all right here we got another one
• 54:57
  here's another receipt showing that they are blatantly lying
• 55:00
  and you know, just to echo the the poll that we have here.
• 55:04
  Do you believe Gary Gensler didn't know about operation
• 55:06
  choke .2 point O? 88% of you guys that responded
• 55:09
  said no of course, and I think it's very telling that not only
• 55:14
  did he get the questions that Elizabeth Warren was going to
• 55:17
  tee him up to obviously if that one if Nico, if you want to pull
• 55:21
  up that one that one infographic there about who are the
• 55:25
  architects behind choke .2 point O it it would just be very
• 55:30
  obvious. Of course he's heard about this
• 55:31
  when Elizabeth Warren is one of the main people she's at the
• 55:34
  epicenter of this this whole attack on Bitcoin.
• 55:37
  Remember she's the what's the anti crypto army lead person
• 55:41
  here you can see her top top. That's her.
• 55:43
  That's her campaign slogan, Yeah.
• 55:45
  Yeah, exactly. Anti building an anti crypto
• 55:47
  army. So like of course he's heard
• 55:49
  about this and again, Gary Gensler, he used to do a A class
• 55:54
  on Bitcoin and blockchain and MIT.
• 55:57
  So he's very aware of the industry.
• 56:00
  He's obviously has to keep up to date in Bitcoin.
• 56:03
  Yes, he did begrudgingly release the ETF after kind of dragging
• 56:08
  his feet for a long time. So I would argue that he is
• 56:11
  fully aware of what's going on. Of course, he can't say this,
• 56:15
  you know, in a congressional hearing that like, yeah, he's
• 56:17
  actively fighting the industry when his slogan at the SEC is to
• 56:21
  protect investors. And I would argue that stopping
• 56:25
  Bitcoin adoption is is doing the complete opposite.
• 56:28
  Bitcoin is the only way to protect your purchasing power.
• 56:32
  And the fact that they are trying to pick winners and
• 56:34
  losers here, I'm not surprised. This is how the game works.
• 56:37
  Obviously they want to, to try to cut off the on and off ramps
• 56:41
  of Bitcoin. They want to make sure that
• 56:43
  people don't leave the Fiat system.
• 56:45
  It that's, that's their inherent, you know, North Star
• 56:49
  here is because they got to keep people in the system.
• 56:52
  They they got to make sure that there is no alternative.
• 56:54
  But now it's becoming very obvious that there is an
• 56:56
  alternative. They're getting caught in their
• 56:58
  lives. And so if you are just waking up
• 57:01
  to the fact that the system is rigged against you, not only the
• 57:04
  whole system, but the financial system, particularly these
• 57:08
  little stories that we constantly show you on the show,
• 57:11
  We we constantly build up these receipts one story at a time to
• 57:14
  show you guys that this is happening.
• 57:16
  It's very important to continue to expose these lives so people
• 57:19
  realize, wait, maybe the people in power don't have our best
• 57:22
  interest in mind, Nico. Maybe they're actively trying to
• 57:26
  keep us poor and in debt and, you know, not not knowledgeable
• 57:30
  what's going on. Maybe this is by design in the
• 57:33
  Fiat system that you're not supposed to know how this works.
• 57:36
  Yeah. Well, good thing we have the
• 57:37
  Internet and good thing we have Bitcoin and peer-to-peer
• 57:40
  protocols such as Nostra and of course the Bitcoin network in
• 57:43
  general. Because the truth is coming up
• 57:46
  and the truth wants to be set free.
• 57:47
  So hopefully more people start to wake up that they are slaves
• 57:51
  in the Fiat system and they are indebted to the paper money.
• 57:56
  Yeah, absolutely. And I just want to like, I love
• 57:58
  what what Greer was saying earlier too.
• 58:00
  But I, I, I want to take in and to borrow some of Opti's name.
• 58:05
  I want to take an optimistic approach here because it's like,
• 58:08
  yes, like it's blatant clown world is happening.
• 58:11
  Like, you know, the politicians are not following their own
• 58:14
  rules. Like the system is rigged.
• 58:17
  The system is stealing from you, but this is Fiat money.
• 58:20
  But the optimistic angle is we now have a tool to fight back.
• 58:26
  And it's not a kinetic fight. It's a, it's an information war
• 58:31
  and it's literally all you have to do is opt out, buy Bitcoin,
• 58:36
  earn Bitcoin, mine Bitcoin and put that Bitcoin into self
• 58:38
  custody. And if enough of us do it, we
• 58:41
  win. And there's absolutely nothing
• 58:42
  they can do about it. This is this is literally about
• 58:46
  individuals taking back their financial sovereignty, but using
• 58:51
  Bitcoin. I mean, even BlackRock is
• 58:53
  literally saying it's a non sovereign alternative.
• 58:56
  Like even BlackRock is, is saying what we're saying, right?
• 59:01
  So if you don't want to partake, if you're seeing the utter
• 59:05
  corruption, because that's what it is in the traditional system,
• 59:09
  you're seeing the collusion between agencies and Congress
• 59:13
  people that are supposed to keep those agencies.
• 59:16
  They're, they're supposed to hold them accountable.
• 59:18
  And you're seeing the the collusion that's happening.
• 59:21
  If you save and earn in Fiat, you are a willing participant in
• 59:27
  that system, opt out. And the way that you do that is
• 59:32
  by taking Bitcoin into self custody and you no longer have
• 59:35
  to that system can continue, but you are protected by this orange
• 59:40
  force field. You're just you're looking as an
• 59:42
  as a as an observer entertained that meme with the guy eating
• 59:47
  the popcorn in the background like that.
• 59:49
  That's that's you right watching the Fiat Titanic sink.
• 59:54
  If you know, you take advantage of the tools and the power that
• 59:58
  Bitcoin gives you as an individual and you can protect
• 1:00:02
  yourself from this madness. The reason that we highlight
• 1:00:04
  this? Is because we're showing you the
• 1:00:06
  alternatives like you have Fiat, that's what you get with Fiat
• 1:00:11
  and Bitcoin. It's it's very obvious what you
• 1:00:14
  get with Bitcoin, right number go up, your life gets
• 1:00:17
  progressively cheaper over time. I think there's a there's a
• 1:00:21
  spiritual component. There's a component also to
• 1:00:24
  where all of a sudden you have the ability to think about the
• 1:00:28
  future, where in the Fiat world you can't do that.
• 1:00:31
  So yeah, like I'll leave it up to you guys.
• 1:00:33
  What system do you choose? Do you choose Elizabeth Warren
• 1:00:36
  system or do you choose Satoshi system?
• 1:00:38
  Anyways, guys, let's get to the culture.
• 1:00:40
  Let's talk about the passport. Let's talk about foundation
• 1:00:43
  devices. Let's talk about all that stuff
• 1:00:45
  with Grier. Stay tuned for the culture.
• 1:00:48
  Let's check it out. Before we jump into the culture,
• 1:01:02
  I do want to give a shout out to our sponsor, the Orange Pull App
• 1:01:04
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• 1:01:07
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• 1:01:11
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• 1:01:19
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  It also allows you to connect with fellow Bitcoiners that are
• 1:01:26
  near you. It has this really clever
• 1:01:28
  geographical feature. So like if you're travelling,
• 1:01:31
  you go to a new city for a conference perhaps and you just
• 1:01:33
  don't know anything, you don't know anybody there.
• 1:01:35
  You pull up the Orange Pull up, it will literally show you which
• 1:01:38
  Bitcoiners are near you and it will give you the capability to
• 1:01:41
  send them a message directly connecting with them.
• 1:01:44
  It's also one of the best resources to connect with me.
• 1:01:48
  I don't really answer emails these days or Twitter these
• 1:01:51
  days. If if it's just random messages.
• 1:01:54
  But if you don't know me and you want to get in contact with me,
• 1:01:57
  download the Orange pull app, send me Adm via the orange pull
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  app. Download it today, scan the QR
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  code or check the link in the video slash podcast description.
• 1:02:06
  Anyways, I'm really excited about this episode.
• 1:02:08
  Always love having the foundation guys on the show.
• 1:02:12
  We just got zapped 121 SAT's. The foundation devices are
• 1:02:17
  phenomenal. I completely agree.
• 1:02:19
  Greer, how you doing man? Happy to have you on the show.
• 1:02:23
  Yeah, thanks. No, it's, it's awesome to be
• 1:02:25
  here. You know, I've been watching you
• 1:02:27
  guys since 2021. So, you know, being here today
• 1:02:30
  is, has been awesome. And I can vouch for your orange
• 1:02:33
  pill app, you know, comment because when I connected to you,
• 1:02:36
  Nico, you know, a couple days later you said what's up.
• 1:02:39
  So that was, that was pretty cool.
• 1:02:41
  I do. I do like that feature.
• 1:02:44
  So yeah, man, so you are the head of marketing and I agree
• 1:02:50
  you're the head of marketing aviation devices.
• 1:02:52
  You guys make an incredible product Yeah, you guys had the
• 1:02:56
  passport one. This is the Passport 2.
• 1:02:59
  What I love about it personally, and guys, I've bought every
• 1:03:05
  hardware wallet known to man and I know them thoroughly.
• 1:03:08
  In fact, I have collections of them.
• 1:03:10
  If you go into one of my drawers in my night stand, I literally
• 1:03:14
  have just, I hand them out at this point because like, it was
• 1:03:18
  my sister's. I don't want to dox her, but
• 1:03:20
  let's say it was her birthday not too long ago and I gave her
• 1:03:26
  a passport as one of her birthday gifts and she's like,
• 1:03:28
  Oh my God, this is great. You know, And I'm like, yeah,
• 1:03:30
  it's a $200 device, but I just, I collect hardware wallets like
• 1:03:34
  candy at this point because I am a Bitcoin junkie and I want to
• 1:03:40
  learn everything that I can about the latest and greatest
• 1:03:43
  hardware. And I love the way that you guys
• 1:03:46
  approached it. First of all, it's incredibly
• 1:03:50
  easy to use for a beginner. So if you are getting into the,
• 1:03:56
  if you're getting into self custody and you just, you've
• 1:04:00
  never done it before, this thing is so intuitive.
• 1:04:04
  It's, it's like it's easy to use.
• 1:04:07
  And you guys also offer concierge service.
• 1:04:09
  So if you guys go to the the foundation devices website, you
• 1:04:15
  guys get yourself a passport. If you guys want them to walk
• 1:04:19
  you through it, you can add it to your cart concierge and they
• 1:04:23
  will literally walk you through how to take self custody with
• 1:04:26
  your passport device. It also syncs up with the Envoy
• 1:04:30
  app on iPhone or Android and it allows you literally like you
• 1:04:36
  could spend your cold storage Bitcoin.
• 1:04:38
  It has a camera on the back right?
• 1:04:39
  It has a QR code and you literally sign transactions like
• 1:04:42
  this has the USBC port on the bottom but it's power only.
• 1:04:47
  It's not data. So this thing is completely air
• 1:04:50
  gapped and you're like, OK, Nico, what if I don't want to
• 1:04:51
  use the camera has an SD slot on the top right.
• 1:04:55
  So this device is not only good for the beginner, it also has
• 1:05:02
  all the benefits of if you're a Bitcoin OG, if you're a Bitcoin
• 1:05:06
  expert, it still has all those benefits.
• 1:05:10
  It's open source. It's Bitcoin only.
• 1:05:12
  So the attack vector is a lot smaller, right?
• 1:05:15
  And it's completely air gapped, doesn't give you the ability to
• 1:05:18
  connect data via USUSUSBC. So yeah, man, this, this device
• 1:05:24
  is awesome. I highly recommend it.
• 1:05:27
  And it's not just because you guys sponsor us, but this is a
• 1:05:29
  device that I recommend to anybody who's really getting
• 1:05:33
  into the space, wants to benefit from cold storage, but perhaps
• 1:05:38
  isn't quite tech savvy. The foundation is for you.
• 1:05:42
  So that's my take on it. My personal experience with it,
• 1:05:45
  using it. I, I use it as one of my daily
• 1:05:48
  drivers for one of my wallets. And it's it's pretty awesome.
• 1:05:53
  So I'm going to pass it on to Greer.
• 1:05:55
  You guys are have also been working on multi sig as well.
• 1:06:00
  That's quite interesting. Yeah, Yeah, what you described
• 1:06:03
  is exactly right. So you can get started with
• 1:06:07
  Passport by downloading Envoy, the companion app.
• 1:06:10
  You can create a hot wallet and then purchase a passport.
• 1:06:13
  If you use the slash simply, then you'll get the $10 off.
• 1:06:17
  So that that's great. It's perfect all in one solution
• 1:06:20
  pot and cold storage. And if you want to take the next
• 1:06:24
  step to multi sig, usually depending on where you are on
• 1:06:27
  your Bitcoin journey, self custody unfortunately doesn't
• 1:06:31
  come right away. Usually you're buying your coin,
• 1:06:34
  your Bitcoin, your stats from an exchange.
• 1:06:37
  You leave them there until somebody says and not your keys,
• 1:06:39
  not your coins and you understand it.
• 1:06:42
  What we want to do is make that process so much easier.
• 1:06:45
  So yes, there are advanced features with passport, there's
• 1:06:49
  coin control, there's all kinds of great things that an event
• 1:06:52
  user would love. But also multi sig is is
• 1:06:56
  something that we've been doing. We have really some of the
• 1:06:59
  smartest Bitcoin people on the team that are well known in the
• 1:07:02
  space that will answer your questions and walk you through
• 1:07:06
  it. So for $99.00 when you purchase
• 1:07:08
  Passport, you can get an hour concierge set up with Q&A on our
• 1:07:13
  team who really makes the process so seamless.
• 1:07:17
  If you ever have a question or get stuck or need to know
• 1:07:20
  something else, he is really an invaluable resource.
• 1:07:24
  He's has a ton of Bitcoin knowledge, but he's also very,
• 1:07:29
  you know, he knows Passport like the back of his hand.
• 1:07:31
  So if you wanted to upgrade from your single, your 12 word seed
• 1:07:36
  on passport to do a multi sig, we offer three devices plus two
• 1:07:41
  hours of concierge service. So you'll also want to partner
• 1:07:45
  or to include with that set up either Nunchuck or or Blue
• 1:07:49
  Wallet. And with those three devices,
• 1:07:52
  you have 3 separate seeds. The passport itself has a PIN.
• 1:07:56
  We're talking about, you know, very high grade, the highest
• 1:08:00
  grade security. What you choose to do with each
• 1:08:03
  of those devices is another consideration.
• 1:08:06
  Some people geographically spread them out.
• 1:08:08
  Some people think about putting them in different types of, you
• 1:08:13
  know, safety containers or safes, but really thinking about
• 1:08:17
  multi sig is the next evolution that really makes it impossible
• 1:08:22
  for your coins to leave without your permission.
• 1:08:25
  So what we found is that people are interested in multi sig,
• 1:08:31
  they might not know how to do it.
• 1:08:33
  There are some options out there where you can blend, you know,
• 1:08:37
  let's say 3 devices together to create your multi sig setup.
• 1:08:42
  But with us we've made it so easy.
• 1:08:44
  Another piece that I really like about Passport compared to some
• 1:08:47
  of the other options is that it has a battery pack, so you can
• 1:08:52
  charge it, but the battery pack is, you know, fully replaceable.
• 1:08:57
  It's really like the simplest way to make sure that you can
• 1:09:00
  always turn on your device if you do your security checks
• 1:09:04
  every couple of months or whatever the process is.
• 1:09:06
  Passports made it so simple to make sure that everything is
• 1:09:09
  going to be working for you. And with multi sig plus
• 1:09:13
  concierge, there's really no reason not to not to do it.
• 1:09:17
  And as Bitcoin goes up in value if the need for self custody
• 1:09:22
  becomes even more important. 100 and also one of the things that
• 1:09:25
  I want to mention because we did get a a question in the chat,
• 1:09:29
  the Envoy app, you can connect it with your own node.
• 1:09:33
  So you don't have to connect it with Foundations node.
• 1:09:36
  You can connect it with your own node.
• 1:09:39
  And someone actually asked a question in regards to let me
• 1:09:43
  see it was Rob Ryan in the chat asks that they have a Nano X
• 1:09:51
  should I change? So here's the thing about
• 1:09:53
  Ledger. So Ledger is like the mainstream
• 1:09:55
  kind of hardware wallet. The thing is Ledger, it's closed
• 1:09:59
  source. So you don't know what software
• 1:10:01
  they're running. You're essentially trusting
• 1:10:04
  them. Now they're incentivized to play
• 1:10:07
  by the rules, obviously, but you're still, you're still
• 1:10:12
  trusting. There's an element of trust
• 1:10:14
  foundation is actually open source.
• 1:10:16
  So you so the code essentially is open for anyone to review,
• 1:10:20
  anyone to see. And you know what code is being
• 1:10:24
  run on this device. You don't know what code is
• 1:10:27
  being run on NOx. You have to trust the Ledger
• 1:10:30
  guys, which I got to say, like Ledger isn't it's the mainstream
• 1:10:34
  hardware wallet, right? They should they support all the
• 1:10:37
  alt coins and all that stuff. You know, they're obviously a
• 1:10:40
  very successful company, but the Bitcoin ethos is, is don't
• 1:10:45
  verify. You know, the trust don't don't
• 1:10:49
  trust verify, right? And another thing also that
• 1:10:52
  actually Opti brought this up as well is the Ledger Live, the
• 1:10:57
  Ledger Live aspect of it. So for you to update your
• 1:11:01
  Ledger, you can only do it via the Ledger Ledger live app,
• 1:11:06
  which you have to download on your Mac or your PC or whatever,
• 1:11:10
  you know, operating system you're using.
• 1:11:12
  And that thing sends so much data about you, you have no
• 1:11:18
  idea. Like it is nuts.
• 1:11:20
  It's crazy. And there's no other way for you
• 1:11:23
  to update your hardware wallet that way, right?
• 1:11:25
  And I know you guys do it differently.
• 1:11:27
  You guys do it via the SD card, I believe.
• 1:11:31
  So that's another thing to keep in mind about Ledger.
• 1:11:33
  Now, that's not to say that you know they're going to rug pull
• 1:11:37
  you like you know. But again, because being nice
• 1:11:41
  don't use Ledger, I'll say it, don't use Ledger.
• 1:11:44
  Look, I'm a bitcoiner. I believe in don't trust verify
• 1:11:49
  right? If their if their software is
• 1:11:54
  closed source, you have to take their word for it.
• 1:11:58
  You can't verify that their software doesn't have any things
• 1:12:03
  that you might not like. And when it comes to handling
• 1:12:07
  your money and your generational wealth, I think it's a very,
• 1:12:12
  very important decision. You know which hardware wallet
• 1:12:17
  you choose to use to store your generational wealth.
• 1:12:22
  So that's my take on Ledger Niko.
• 1:12:25
  'S being political. I do want to ask Grier one more
• 1:12:28
  question for people in the chat. We have Earthbum here and you
• 1:12:31
  did mention this, but just to clarify for them in the chat, do
• 1:12:34
  you need a computer for a passport to work or can you get
• 1:12:37
  by with just the phone? Yeah, just download the Envoy
• 1:12:41
  app. That is the best way to
• 1:12:42
  interface with Passport. You don't need a computer.
• 1:12:46
  Your your phone will not expose your your private keys.
• 1:12:51
  The Passport you check out magic backups.
• 1:12:54
  It's what we do with the QR codes.
• 1:12:56
  It's incredibly secure. Everything's stored in the
• 1:13:00
  secure element on the Passport device.
• 1:13:02
  So what what I think the team does so well, you know, and this
• 1:13:06
  is 4 years they've been working on this product.
• 1:13:09
  This specific one came out two years ago.
• 1:13:12
  But they are very, very high quality.
• 1:13:16
  Everything is about user experience.
• 1:13:18
  They care about the LED brightness of the screen.
• 1:13:22
  They care if the buttons feel correct.
• 1:13:24
  They care that when you pick up the Passport device, it's heavy.
• 1:13:28
  And it's something that I've watched people hold the device
• 1:13:32
  for the first time and say, oh, wow, I didn't expect that this
• 1:13:35
  team, what I would credit them with is being so deliberate on
• 1:13:39
  every single choice they make. You know, self custody is, is
• 1:13:43
  something that we have to do. You have to take your Bitcoin
• 1:13:47
  off the exchange. You have to control yourself.
• 1:13:49
  Today it has never been easier. And the device that they have
• 1:13:53
  made that passport is, is really so simple, You know, you don't
• 1:13:57
  have to worry about having it be hacked or your Internet
• 1:14:01
  connection or Bluetooth or NFC. And, and Nico, you pointed out
• 1:14:05
  even the charging pin has the data pins removed.
• 1:14:07
  So there is, there's nothing that really anyone can do if
• 1:14:11
  you're protected by your PIN and if your, your seed phrases on
• 1:14:15
  the device itself. And then of course, we can do
• 1:14:17
  you can do other types of backups.
• 1:14:20
  You know it for me, I found it is the most secure place to
• 1:14:23
  keep, to keep Bitcoin. So I think that, you know,
• 1:14:27
  really just what we found is when people hold it for the
• 1:14:29
  first time, then they say, oh, wow, that's incredible.
• 1:14:31
  I had no idea. Yeah, absolutely.
• 1:14:34
  Yeah, man, I absolutely love the device.
• 1:14:37
  Again, guys, completely open source, incredibly easy to use.
• 1:14:40
  You don't have to use it with the Envoy app.
• 1:14:43
  It's it's it makes it convenient, but you can use it
• 1:14:46
  with Sparrow, you can use it with Electrum, You could use it
• 1:14:49
  with, you know, all the open source wallets, the the passport
• 1:14:53
  will work with them. So, yeah, but again, for
• 1:14:58
  introducing cold storage to people, I love the passport
• 1:15:03
  envoy setup because it's, it's it's it's very easy for someone
• 1:15:07
  who's just getting into self custody rather than be like,
• 1:15:10
  hey, so you have to get your passport and then you have to
• 1:15:12
  download the software called Sparrow on your wallet.
• 1:15:15
  Then you have to verify the software to make sure that
• 1:15:18
  you're you're you're downloading the right thing.
• 1:15:20
  And then you have to sign this using this SD card.
• 1:15:23
  Like it it's like like they're going to look at you like like
• 1:15:25
  what the F are you saying right? I think the Envoy app makes it
• 1:15:30
  so that you get the benefits of cold storage, but also there's
• 1:15:34
  an element of convenience still there right Without sacrificing
• 1:15:38
  security, Opti. Yeah.
• 1:15:40
  One last thing is I want to tee up Greer because I know you
• 1:15:44
  wanted to talk about this and it we've noticed this as well that
• 1:15:48
  it's very surprising that people who watch a lot of Bitcoin
• 1:15:51
  content still haven't taken that step to self custody.
• 1:15:54
  So I want, I want to give you this moment to emphasize why
• 1:15:57
  it's so important to take self custody of your Bitcoin.
• 1:16:01
  Yeah, no thanks. I mean that that is key.
• 1:16:03
  So the first reason is because if you've purchased the Bitcoin,
• 1:16:06
  it belongs to you. The best place to keep it is
• 1:16:09
  with your control. And then there are many other
• 1:16:13
  things that come into play if you keep your Bitcoin on the
• 1:16:16
  exchange. There are questions about
• 1:16:18
  whether or not exchanges rehypothecate where they could
• 1:16:22
  sell your Bitcoin to someone else.
• 1:16:24
  And now we have a situation of paper Bitcoin, which is not good
• 1:16:28
  with something that has a scarce supply.
• 1:16:30
  But the other thing is, let's say you need to travel and you
• 1:16:34
  need to take your money with you.
• 1:16:36
  You can have your Bitcoin hidden behind 12 words.
• 1:16:40
  Those 12 words, you can memorize them.
• 1:16:42
  You can write them down in a way that only you would know.
• 1:16:46
  You can keep them on a device like Passport that looks like a
• 1:16:49
  phone, which is a, you know, sort of a genius take.
• 1:16:52
  It does not look like a hardware wallet or USB device.
• 1:16:56
  And you become you become a sovereign free individual.
• 1:17:02
  You know, this is the thing that we feel is most empowering with
• 1:17:06
  everyone controlling the money today, whether it's the Fed or
• 1:17:09
  the bank or the interest rates or the inflation or the
• 1:17:12
  printing, you know, Bitcoin gives you a way to leave that
• 1:17:16
  system. And when you hold Bitcoin behind
• 1:17:18
  those 12 words, you are really the one who's empowered, and now
• 1:17:23
  you have something that people cannot steal from you.
• 1:17:26
  So again, what we found is that Bitcoiners, typically, it takes
• 1:17:32
  them time, they bought it on in exchange, a popular one.
• 1:17:36
  And they feel like because this company is reputable, I won't
• 1:17:40
  lose my Bitcoin. But history has shown us that
• 1:17:43
  that is not the case. Now, hopefully the exchanges
• 1:17:46
  stay, you know, intact in the way they are and they're a good
• 1:17:49
  operator for for people to onboard into Bitcoin.
• 1:17:52
  But really, it's not yours until you put it behind those 12
• 1:17:55
  words. Amen.
• 1:17:57
  Yeah, your keys. Not your keys, guys.
• 1:17:59
  Head over to Foundation Devices website and get yourself a
• 1:18:03
  passport. Not your keys, not your cheese,
• 1:18:05
  like we say. And of course, you could use
• 1:18:07
  promo codes simply to get a discount.
• 1:18:10
  Yeah, guys, you got to take self custody.
• 1:18:12
  Self custody is the revolution. Anyways, we are getting to the
• 1:18:16
  top of the hour. Guys.
• 1:18:18
  This was simply Bitcoin Live for September 25th, 2024.
• 1:18:22
  I'm your host, Nico. This is my Co host, Optimist
• 1:18:24
  Field. And our guests are our guests
• 1:18:26
  for today, Greer from Foundation Devices.
• 1:18:29
  Greer, thank you so much for joining us.
• 1:18:30
  Appreciate it. Thanks for having me.
• 1:18:33
  All right guys, we will see you tomorrow for another episode of
• 1:18:35
  simply Bitcoin Live. Until then, stay tuned for Rust
• 1:18:38
  and simply Bitcoin Originals, which is dropping later on
• 1:18:42
  today. Take care everybody.
• 1:18:43
  Go outside, touch some grass, eat some steak it.
• 1:18:47
  Was brought to you by bitcoinwell.com, a Bitcoin only
• 1:18:50
  platform on a mission to enable financial independence.