Latest / Simply Bitcoin / Samson Mow Doubles Down on $1M Bitcoin in 2024 | EP 1074

Transcript

Samson Mow Doubles Down on $1M Bitcoin in 2024 | EP 1074 · Simply Bitcoin

0:21
The the thing that trips us up, that takes us from our sort of
0:26
preeminence, you know, the world's reserve currency, those
0:29
sort of things that we enjoy right now and perhaps take for
0:31
granted. In the long term, yes, I think
0:35
in in the intermediate term, nothing really stops this train.
0:38
I think this is kind of locked in for, for quite a while and
0:41
it's not like calling for something major by next year or
0:44
the year after. But I do think that we are now
0:47
more structurally in this period where we can't necessarily
0:50
assume that the Ford sector is going to be buying a lot of our
0:53
treasuries. We can't assume that the private
0:55
sector is always ready to going to step in with reasonable
0:57
yields. And even to the extent that they
1:00
do, basically anyone holding those is likely to get, you
1:04
know, gradually devalued in terms of their purchasing power
1:07
over the next 5-10, fifteen years.
1:09
So I, I do think it is a longer term issue that has consequences
1:12
now. And it's, you know, a decade ago
1:16
this was a meaningful political item that would come up.
1:19
They would debate how, what are we going to do about the
1:21
deficits. And now one of the, one of the
1:23
things that both parties kind of agree on is not really to cut
1:26
any of the major spending areas. They've got a plenty of other
1:29
differences, but the major areas of spending and the size are are
1:33
not really being like meaningful topics in the current political
1:37
climate. And it and it feels like almost
1:38
every year there's a new a new spending plan that maybe was
1:42
discretionary, but now we can't cut it.
1:43
So then the areas that cut get smaller and smaller every single
1:47
year. To your point, no matter which
1:48
party's in power. Lynn, great, great stuff.
1:51
Really appreciate your work. And this this is a critical
1:53
thing that everyone should understand and know about.
1:56
Thank you very much. Yeah, we're going to simply
1:59
Bitcoin live your number one source for the peaceful Bitcoin
2:01
revolution and cover can use culture and manic warfare.
2:03
We'll be your guide through the separation of money and state.
2:07
Lynn Alton on Fox Business literally saying, quote, nothing
2:11
stops this train. Lynn's one of the most legendary
2:14
memers in the space. She's obviously incredibly
2:16
brilliant. She's very smart.
2:18
Her you know, her macro takes her everything takes her are are
2:21
are amazing. But it's just funny how she's
2:24
just slowly, you know, the mematics are being introduced
2:28
into, you know, the legacy media, which is I find hilarious
2:31
now. But Lynn said something that,
2:34
you know, we were saying yesterday, which was the debate
2:38
yesterday did not address the the deficit.
2:43
The, the debate yesterday did not address the amount of money
2:47
the US government continues to spend more than it collects in
2:52
tax revenue. And and that's that's
2:54
unsustainable over the long term.
2:56
And it's kind of like benefiting the people in power now.
3:00
So in like figuratively kicking the countdown, the road.
3:04
And it's the later generations that are really going to pay the
3:08
price to this. And you're already starting to
3:11
feel it. If you're a millennial or you're
3:13
a Gen. Zier, can't afford anything, you
3:16
know, good luck trying to buy your first house.
3:19
It's you don't have the opportunities that your parents
3:22
once had. And it's not a political
3:25
solution to this. This is a well, it is a
3:28
political solution, but not, not in the, the right, the, the
3:30
voting sense. It's a solution in the sense of
3:33
opting out entirely, right, opting out, changing your unit
3:36
of account. And of course, you can continue
3:38
to live the American dream by by saving, earning and stacking in
3:43
Bitcoin. In other news as well, Samson
3:46
Mao, to my surprise, doubled down on his $1 million Bitcoin
3:50
prediction. No, we only have a couple of
3:53
months till the end of the year. Feels, feels very confident
3:56
about it. So we have the clip for you
3:58
guys. Even me like I, I tend to have a
4:01
not as much as Opti. Of course, Speaking of Opti, let
4:03
me bring him up not as much as Opti.
4:05
I don't, I don't, I don't have a as such a, a, a bullish bias,
4:10
but Nico's a bear. You know, I'm pretty, I'm pretty
4:14
bullish overall. You know, I think 2300 K is
4:17
totally doable this cycle, but like $1,000,000 dude, like that
4:20
is nuts. And and that's not only Samson
4:23
Mao saying this, we had Jack Mahler saying this as well.
4:26
Like he's he's saying like, look, it could be anywhere
4:29
between 2:50 and a million this cycle.
4:31
So I don't know man, but a million by the end of 2024 that
4:36
sounds, that sounds quite ambitious.
4:40
What do you think, Opti? Ambitious is.
4:44
It's putting it lightly, I would say.
4:47
I think that's not gonna happen personally.
4:50
IA million from here is I don't even know how many XS.
4:53
That's just like crazy talk. It's over what that's like a 20X
4:58
from here or something like that.
4:59
Like that's that. I don't think that's going to
5:01
happen by by the end of 2024, though.
5:05
When you really think about his his his process, yes, a lot of
5:09
people are like, OK, this is just click bait.
5:11
He's just trying to get engagement.
5:13
But when you really kind of breakdown his thinking behind
5:16
it, it's it's obviously kind of meaning and he's having fun.
5:21
But it also when you really think about the the mechanics
5:24
and the landscape and the perfect storm that is setting up
5:27
for Bitcoin, I don't think it's a non zero chance that it's not
5:30
a possibility, but IA million by 2024 is That's personally that
5:36
sounds like some crazy talk. I, I do love some opium on a
5:39
Thursday or a Monday or whatever, but that just seems a
5:43
little far fetched though. As we know with Bitcoin, Bitcoin
5:47
makes incredible runs and it is not too much capital that makes
5:53
Bitcoin run to these incredible heights.
5:55
And Bitcoin does make a lot of it's moves in a very short
5:58
amount of time. So it is a non zero chance that
6:01
the Omega candle is a possibility.
6:03
But I, I don't, I don't see a million by end of 2024.
6:07
I think we will, if we're lucky, we're going to be hovering
6:12
around all time high by the end of the year.
6:13
But take that into account that a lot of stuff happening in the
6:18
Bitcoin cycles usually start to take off after the election.
6:22
So that's about two months. Who knows what can happen after
6:25
this election process gets done in the US And I will, you know,
6:29
I, I, we're kind of In Sync here.
6:31
I know everyone's yelling at us for price prediction stuff, but
6:35
I in the culture, I am going to show some charts.
6:37
I'm not going to show my Tai don't have TA here for you guys,
6:40
but I'm going to show a bunch of different charts and signals to
6:43
just show everyone that boring Bitcoin price is good.
6:46
And I think we are still going to see an incredible bull run.
6:50
And you know, I'll make my case for that.
6:52
So we'll we'll see what happens. We're going to have fun today,
6:54
Nico, simply speculation on a Thursday.
6:57
This is going to be great. Yeah.
6:59
And during the culture and I also want to be specific as well
7:03
like the the debate, you know, a lot of people, I had my own
7:09
personal feelings about it. We talked about it yesterday.
7:11
But the general consensus, I mean, depending on where you
7:15
stand, is that Kamala performed better than expected.
7:19
And because of that in the betting markets, her chances of
7:23
winning the election actually increased.
7:26
And curiously, the price of Bitcoin dumped during during the
7:30
debate because of of Kamala's performance.
7:33
So if, if that's the case, you know, I, I think that this
7:37
election potentially will, I think it will have potential
7:41
impacts on the price of Bitcoin just because we know that the
7:45
two candidates have different, you know, regulatory
7:50
perspectives on the industry as a whole, Right.
7:53
In other news as well, just kind of connecting this, Kraken
7:56
officially disabled lightning withdrawals in Germany due to
8:01
the regulatory environment. So I, Darth Coyne is one of
8:05
those people. I think he, he messaged me or,
8:07
or tagged me on Primal earlier today about politicians.
8:11
And my response to you is like, yes, I, I think that, you know,
8:16
I, I love Jack Dorsey's coat a quote actually 'cause I think
8:19
it's, it's really, really fitting.
8:22
But I, I think that, you know, my personal perspective on all
8:26
this. Here's Jack's quote.
8:28
He says we reject King's presidents and voting.
8:31
We believe in rough consensus and running code.
8:34
David Clark 1992. So I think it's a very powerful
8:38
quote, but I, I would also say this guys like, you know, the
8:44
reality of the situation is that the politicians control the men
8:49
with guns. And you know, you don't want a
8:52
situation where you're persecuted for being a
8:56
bitcoiner. You don't want a, a China
8:58
situation happening in the United States.
9:01
You don't want that. You'd actually want a positive
9:04
regulatory environment for Bitcoin businesses to thrive.
9:09
That's my perspective. We could always move to El
9:11
Salvador, right? We've always said that.
9:13
By the way, Max confirmed that simply Bitcoin will be streaming
9:18
from the Hottel house in El Salvador.
9:20
We will be there for adopting Bitcoin in November.
9:22
So really excited for that. Really excited about freedom
9:24
country. At least we know we'll be safe
9:26
in freedom country, man. But I just got to say like, yes,
9:30
like politicians, they're scams. This is about the separation of
9:34
money and state after all. But I still think that
9:37
unfortunately, in the current system, yes, the elections will
9:42
have consequences from a regular regulatory perspective depending
9:46
in the country that you're in. So anyways, ladies and
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13:03
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6.53% Anyways, I do want to react to this.
13:19
I have the clip for you guys I'll play it for you guys in a
13:21
second, but check out this headline from bitcoin.com.
13:24
Samson Mao double s down on his $1 million Bitcoin price
13:29
prediction. Let's check out the clip here we
13:31
go year when you said that Bitcoin could reach $1,000,000
13:38
this year and if not this year, 2025, do you still stand behind
13:42
that? I think so.
13:44
The market's wrong. Like Bitcoin is massively
13:47
undervalued right now at whatever it is 56, seven
13:50
thousand per coin. And again, reiterating what I'm
13:55
saying, there is just so little Bitcoin out there.
13:58
You can't double your holdings as a large entity in at this
14:02
point, so. It's.
14:04
It's going to shoot up the the pressure has to be alleviated in
14:08
other ways. So what I see right now is
14:10
Bitcoin's like a beach ball and we're pushing it underwater
14:13
right now and people are starting to get bored.
14:15
Maybe it's intentional, maybe it's paper Bitcoin shorting
14:20
Bitcoin and pushing the price down, but that is not
14:22
sustainable simply because there's so much by demand.
14:26
Every quarter. Tether is going to be buying
14:28
Bitcoin every couple months, MicroStrategy is buying, similar
14:32
is buying, and we're going to see more and more of that.
14:35
The one of the largest pension funds in the world in Korea is
14:39
allocating to MicroStrategy now. So you can see the tide already
14:43
turning. But just like in the Big Short,
14:45
the market takes time to realize what's happening.
14:48
It's always going to be the people that are paying attention
14:52
to Bitcoin that see all these factors and are allocating to
14:55
it. This is why Michael Saylor is
14:57
going to try to buy as much as he can right now.
15:00
So before we continue the conversation, here's Mandrick.
15:03
Mandrick's an OG bitcoiner. He's known for selling baklava
15:07
for Bitcoin in 2011. Talk about OG Bitcoin isn't
15:11
going to magically dump to 1,000,000 overnight via
15:15
magically pump to 1,000,000 overnight via an Omega candle.
15:19
It's going to be a painful multi year journey with no guaranteed
15:23
chance at success. It's a reflection of humanity
15:26
itself. Prepare yourself accordingly.
15:30
I mean I love Samsung's optimism.
15:33
He is. He is right though, in the sense
15:35
that like I am seeing this too. You're you're you're seeing
15:39
public companies, you're seeing nation states, you're seeing
15:42
pension funds, you're seeing banks get exposure to Bitcoin
15:46
either through MicroStrategy or the ETFs.
15:49
Now he did. Is this is this, you know, are
15:51
we seeing potential re hypothecation has bitcoin's is
15:55
Bitcoin's price being suppressed?
15:57
But I'll tell you what, there isn't enough Bitcoin to go
16:00
around. I did the math for you guys
16:01
yesterday. There's roughly 50 to 60 million
16:04
millionaires all around the world.
16:06
If you divided, you know, 21,000,000 by the, you know, the
16:10
5060 million millionaires, there wouldn't be one Bitcoin enough
16:13
for each millionaire, right? So this is an absolutely scarce
16:16
asset. You have MicroStrategy, you have
16:19
countries, you have pension funds, you have hedge funds,
16:22
they're all buying Bitcoin like crazy.
16:25
If Michael Saylor keeps outperforming the entirety of
16:28
the SNP, I'm sure that every, I'm sure that other, you know,
16:32
other companies are going to follow.
16:34
Like, it's it's an absolute no brainer in my humble opinion.
16:38
But getting to his prediction of $1 million Bitcoin and him
16:42
doubling down on it, like, oh, shout also, I have to give a
16:45
shout out to the original creator.
16:47
Shout out to Coindesk for conducting that interview.
16:49
Go check out their YouTube channel and their Twitter for
16:51
more info. But yeah, like it's, you know,
16:56
it's, it's, it's, it's bold. It's bold.
16:59
But at the same time like, and I know the laws of big numbers and
17:04
diminishing returns, and I know of those things.
17:06
But 2020, you know, I remember vividly and I remember at the
17:13
end of 2016 when this thing was under $1000.
17:18
Did I know that I think that Bitcoin was going to go to
17:23
$20,000 like the following year? Absolutely not.
17:29
Like I had no, I no, no clue that that was going to happen.
17:32
So you know, this, this kind of goes to what I've been saying is
17:37
like what I'm seeing this cycle is people have PTSD from the
17:44
previous cycle because Bitcoin definitely underperformed
17:49
compared to people's expectations.
17:51
I think Plan B set up expectations that it was 100K
17:54
guaranteed, everyone was going to be happy, Yappa Dee Doo dah
17:58
blah blah, blah blah blah. But you know it it
18:02
underperformed in a way. It kind of had this like double
18:04
top. I made the case that a lot of
18:08
that was influenced because of the China mining ban, the China
18:11
mining ban and the hash rate drop that kind of took the
18:15
momentum out of the Bitcoin price run up and of course, not
18:19
to mention the re hypothecation by FTX.
18:22
So, you know, is this cycle, what I'm seeing is that Bitcoin
18:26
tends to do the exact opposite of what everyone thinks.
18:30
And what I'm seeing this cycle is pessimism.
18:33
So people are saying 100K150K Bitcoin, that's what we're going
18:38
to top out to. And again, just like the
18:42
previous cycle, Bitcoin tends to do the exact opposite of what
18:46
people think. Now does this mean anything?
18:49
No. Does anyone know where the price
18:51
of Bitcoin is going next year? No.
18:54
Does does this change my strategy or your or what should
18:59
be your strategy? No, what I recommend is dollar
19:02
cost average stay humble stock SAT stay solvent and time in the
19:07
market beats timing the market. And that's what I've seen the
19:11
most successful strategy. I've seen people that have tried
19:15
to time it, that have tried to leverage and all that and it
19:19
it's just it's ended catastrophically in in, in in so
19:24
many different ways. We also have the CEO and founder
19:27
of Bitcoin in the chat. So I do want to give a shout out
19:30
to yellow yellow welcome. If you guys are concerned about
19:35
the price of Bitcoin, please please send DM.
19:39
But please send Yellow a direct message on Twitter flood his
19:43
inbox. He is Satoshi and he is
19:46
responsible for Bitcoin's price movements.
19:49
Opti, what's your take on all this?
19:50
Well. Well, first of all, I do want to
19:52
touch on Yellow. Actually, it is the reverse.
19:55
Nico Yellow is on the beat to expose the 58K price
20:00
manipulators. He's got all the receipts, so if
20:02
you have any leads on that front, hit up Yellow.
20:08
No, I'm trolling oh man I I I think I need a new Mike San
20:11
Nico. So I I didn't touch it.
20:13
We'll see what happens. Let me know if it's getting
20:15
worse. But OK, going to this price
20:18
prediction. He did say 1,000,000 by 2024 the
20:23
end of this year 2024, which everyone in the chat is calling
20:27
me a bear because they're like Bitcoin did the 20X in 2017.
20:32
Why can't it do it in this bull run?
20:35
I agree with that sentiment. I am 100% in agreement on the
20:39
idea that Bitcoin can run 20X in this leg up of the bull cycle.
20:45
But where I disagree is I don't see that happening by the end of
20:48
2024. Guys, this is 3 months.
20:50
Is Bitcoin going to run to a million in three months?
20:53
No. If it did run to a million in
20:55
three months, personally, this might take whatever.
20:57
I'm just a guy on Twitter and you know been around for a
21:00
little bit. Not as long as Samson, but if
21:02
Bitcoin did run to a million, I think that would be signaled
21:06
that there is cat a catastrophe in the finance traditional
21:10
financial world. It would mean the Fiat dollar is
21:13
dying eminently. And I know you can hear Max
21:16
Kaiser say that the Fiat dollar is dying and even Lynn Alden
21:19
kind of agrees that there is no stopping this train that
21:23
eventually we know the end game is Fiat will go zero against
21:28
Bitcoin. I think we are all kind of in
21:30
agreement on that, but no one knows the timeline.
21:32
It's probably going to be outlasting our lives, but
21:36
eventually the whole world will get on a Bitcoin standard.
21:39
So with that being said and that out, you know, in the open, I
21:43
think that $1,000,000 prediction by 2024 is, is a bit outlandish.
21:46
I know he is probably just ship hosting and having fun, but
21:51
Narwhal kind of did say something that I, that I think
21:54
is also signal on Rumble is Sampson is talking to a lot of
21:57
people that and these private conversations were not Privy to.
22:00
So we don't know exactly what he's seeing on the back end.
22:04
Again, this could be him just kind of ship hosting.
22:06
But with that being said, I've been saying this for a while as
22:10
well that I think we are seeing a perfect storm in alignment for
22:13
this next leg up in the bull run or the the banana zone as we
22:16
like to call it. And it seems like the game has
22:20
changed a little bit, especially with the ETFs.
22:22
We're seeing pension funds start to embrace Bitcoin or at least
22:26
start to buy some ETFs. We're seeing more corporations
22:30
follow the MicroStrategy strategy.
22:31
We see El Salvador continue to back Bitcoin and there's been a
22:35
bunch of rumblings about other nation states following other
22:39
nation states following the El Salvador strategy.
22:42
And we and we haven't seen the retail FOMO that we saw in 2017,
22:48
though the macroeconomic landscape has changed since
22:51
2017. I think the biggest, the biggest
22:54
counter to that idea is everyone's poor right now.
22:57
Everyone's broke, everyone's dealing with inflation and
23:00
they're trying to survive paycheck to paycheck.
23:02
So that might be another variable that changes what we
23:05
potentially see as a retail FOMO coming up in 2025.
23:09
But again, there is a non zero chance to see some Omega
23:13
Godzilla candles. And as we know, Bitcoin does
23:16
make incredible price moves in very short times.
23:19
If I remember, I think that the number is like Bitcoin makes
23:23
most of its moves in about 12 days or something.
23:26
I'd have to refresh that. You guys can Fact Check me in
23:28
the chat. But Bitcoin moves explosively in
23:32
a short amount of time and a lot of the pain that as big corners
23:36
feel is because it goes in these cycles and all of the sideways
23:40
and crab market consolidation bear markets is just it's just
23:44
an opportunity for us to stack stats to acquire as much Bitcoin
23:47
as possible to get our cash flows up.
23:50
So as much as I do love the opium of lids going forever, we
23:54
also got to remember the stack stats.
23:56
Stay humble meme. Don't get over leveraged.
23:59
I know so many friends that got wrecked in what was it?
24:03
What's the last cycle, 2022 or whatever where they kind of over
24:07
leveraged themselves? They took out some Fiat loans
24:09
and then the price dumped on them.
24:10
So don't get over your skis, as the saying goes, make sure you
24:14
are not over leveraging yourself because you can you can really
24:17
get wrecked in Bitcoin if you do that.
24:19
Just make sure that you are building your skills, getting
24:21
your cash flows up and maybe selling your chairs.
24:24
However you want to do this, but you the name of the game is
24:27
acquiring as much as possible. So when it does go to a million,
24:30
we're all in in position and we're happy about it and we're
24:35
geniuses for about 3 weeks and. Then calling these idiots, oh,
24:41
man, oh man yeah, yeah, I know. And a really good, really good
24:44
take and just trolling yellow in the chat.
24:48
But but yeah, it's it's let's see.
24:51
It is very bold. But I will say again, guys like
24:54
you, you don't know. You don't know you, you just
24:57
don't know, which is why the best strategy in my opinion is
25:01
just make sure that you have more Bitcoin than the day
25:04
before. Another also component to maybe
25:08
not in the first cycle, maybe in the first cycle you have to be
25:11
very disciplined not to sell your Bitcoin, but you know, it's
25:15
OK to sell some of your Bitcoin at one point, like it's OK, it's
25:19
OK to sell some of your Bitcoin at one point.
25:21
You have to live, you have to enjoy life, right?
25:24
Maybe. Maybe.
25:25
You go off the chat maybe, maybe you go off the stream.
25:27
Maybe not in the first, maybe not in the first couple cycles,
25:30
but eventually, you know, you have to start living a little
25:33
bit man. But but anyways, but just for me
25:37
exposed no, but just remember it.
25:39
It's gonna be that with that Bitcoin that you're that you're
25:42
spending, that's going to hurt a little bit for sure.
25:45
Like and I've and I've, I remember this, remember the days
25:48
Opti where we used to be able to buy a million sats for $100.
25:55
That was that was delicious. That was it should have.
25:57
Stacked harder that. Was that was amazing.
25:59
Those are the days. Those are some good days.
26:02
But anyways, yeah, just to summarize it all up, very bold
26:08
prediction from Samson Mao. Can I say that he's wrong 100%?
26:14
I don't think so. No one knows.
26:18
Let's see what happens next year.
26:20
If Bitcoin continues following its previous cycles, which it
26:24
always has, then 2025 should be a really, really good year as
26:29
well as as well as as well as the end of the Q4 of 2024.
26:37
If you are upset anyways guys, if you guys are enjoying the
26:40
show, there's roughly 366 of you guys watching live on YouTube
26:46
right now. Make sure to smash that like
26:48
button. Help us break 100 likes within
26:50
the first hour of the show helps push the show forward and not.
26:55
Let's get 200 likes. Let's get 200 likes.
26:58
We just we're. Already at 100, we just.
27:00
Broke 100 live viewers on Rumble and About one year so on ZAP dot
27:05
stream that mean that's we're not matching that first day of
27:08
ZAP dot stream, but I'll take it and of course, the 1000 of you
27:11
guys watching on X as well. So whatever platform you guys
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are watching smash the like button share the video comment
27:18
down below let us know your thoughts anyways guys stay
27:21
tuned. We got the news segment lots to
27:24
talk about. Let's check it out.
27:25
Here we go. Special shout out to our sponsor
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All right, everybody, let's get to today's news.
29:44
UK Parliament introduces bill to recognize bill and Bitcoin and
29:49
crypto as personal property. The new legislation aims to
29:53
provide legal clarity and protection for Bitcoin and
29:56
digital assets. Written by our boy Nick Hoffman.
29:59
The UK Parliament has introduced the property, Digital Assets,
30:04
etcetera bill today. Did he really put anyway bill
30:08
today to officially and officially and legal illegally
30:11
recognize Bitcoin, cryptocurrency and other digital
30:14
assets as personal property With this new legislation For the
30:17
first time, British law would officially protect digital
30:20
holdings such as Bitcoin and other cryptocurrencies.
30:23
Non Fungible tokens and carbon credits goes on to say quote.
30:28
It is essential that the law keeps pace with evolving
30:30
technologies and this legislation will mean that the
30:33
sector can maintain its position as a global leader in crypto
30:36
assets and bring clarity to complex property cases.
30:39
It goes on to say quote our world leading legal services
30:43
form a vital part of our economy, helping to drive
30:46
forward drive forward growth and keep Britain at the heart of the
30:50
international legal industry. The Bill aims to address a long
30:54
standing legal gap where digital assets were previously excluded
30:57
from English and Welsh property law.
30:59
As a result, owners of digital assets had little recourse if
31:03
their holdings were interfered with, leaving them in legal Gray
31:06
area. Under the new Bill, digital
31:08
assets will be classified as a third category of property,
31:12
allowing owners to benefit from stronger legal protections
31:15
against fraud and theft. The legislation will also assist
31:18
courts in resolving complex disputes, such as those arising
31:22
in divorce settlements or business agreements involving
31:25
digital assets. Quote.
31:27
The bill will also ensure Britain maintains its pole
31:30
position and the emerging global crypto race by being one of the
31:34
first countries to recognize these assets in law.
31:37
The UK government further explained that with the new this
31:40
new legislation, their legal sector will be better equipped
31:43
to respond to these new technologies and attract more
31:46
businesses and investment to the legal services industry.
31:49
Quote, the UK has passed a new law, a new bill that will allow
31:53
crypto and other digital assets to be recognized as personal
31:56
property. That quote, that means owners of
31:59
digital assets will gain legal protection against fraud and
32:02
scams. So I, I, I, I'll be honest with
32:05
you, I'm very hesitant every time.
32:08
And I know Darth coins in the chat right now, very hesitant
32:11
of, you know, any type of, of, of government kind of getting
32:14
involved and, you know, make their making their voices heard
32:18
about certain certain little legal things.
32:20
But I do believe this is a step in the right direction,
32:22
specifically for the people that for whatever reason decided to
32:25
leave their coins on exchanges and they didn't have a a
32:29
recourse, a legal recourse because it was in the Gray area,
32:32
wasn't considered property. Ideally, I I want to see it
32:36
considered currency because then that opens a very interesting
32:41
conversation. When something is considered
32:43
currency, then it's like you don't get charged.
32:48
For example, if the euro or the dollar gains value against each
32:53
other, you don't get charged for the difference of that.
32:56
You get charged for, you know, if you buy Bitcoin at a certain
32:59
price and then you sell Bitcoin at a certain price and you get
33:03
charged capital gains based on that gain.
33:06
I don't think that's a fair law. And the reason I don't think
33:08
that's a fair law is why should I be penalized for choosing a
33:12
better currency? That's a very important
33:14
discussion that needs to be had. Why should I be penalized for
33:18
choosing a currency that doesn't have inflation baked into it?
33:21
Like, are we getting reimbursed for the purchasing power that
33:25
we're losing because we are forced by legal tender laws to
33:29
use local Fiat currencies? Like we're not being compensated
33:33
for that. You know, in the United States,
33:35
they passed the 16th Amendment, which ratified the establishment
33:39
of the Federal Reserve System. And also coincidentally, the
33:42
same year, the introduction of the federal income tax.
33:45
It was the same freaking year. I don't think that's a
33:48
coincidence. So my question to you guys is
33:53
like, why? Like, why?
33:57
Like if we're already paying taxes, it's ratified in law, why
34:02
do we have to pay the inflation tax as well?
34:05
And politicians just keep gaslighting.
34:08
They keep providing solutions for this.
34:10
Like, you know, we played you a couple video video videos for
34:14
you guys yesterday. One called the Inflation
34:16
Reduction Act that literally the bill literally spent $369
34:21
billion. That's not how you, you know,
34:24
lower inflation. Also, you know, you have
34:28
Elizabeth Warren basically promising that she's going to
34:31
lower the cost of housing and all these goods by, you know,
34:34
taxing rich people. But in the reality, the reason
34:37
that the cost of housing has gone through the roof is because
34:40
they printed money. It's because of inflation.
34:42
So, yeah, I mean, it's a step in the right direction.
34:45
Definitely offers more legal protections if you're in the UK
34:49
and you own Bitcoin. But what I would like to see is
34:53
Bitcoin sees Bitcoin in the eyes of the law, seen as a currency,
34:58
because then that opens up a further discussion into why is
35:03
there currencies that lose purchasing power and why are
35:06
there currencies that gain purchasing power?
35:08
Shouldn't I have the right to use the purchasing the currency
35:11
that most benefits me? And then that's going to be a
35:14
very difficult discussion for governments to have right now.
35:17
They've been operating in this place where essentially they
35:22
kind of get away with, they kind of they, they kind of get away
35:26
with it because people are so uninformed of uninformed in
35:32
regard to inflation. Like they, they still believe
35:36
that inflation is, you know, it's, it's necessary.
35:40
It's a fact of law. Like it, it, it has to exist in
35:44
order for society to function. It's our failure as bitcoiners.
35:47
We really have to get the message out.
35:49
Opti, what's your take on all this?
35:51
Yeah. Well, not to rehash what you
35:53
said, I told totally agree with all that.
35:55
I think the signal here is what they kind of said in that they
36:00
want to maintain, you know, what they say, be the premier leaders
36:03
in the crypto asset industry or whatever, whatever the wording
36:06
was. But it really reminds me of what
36:08
we played yesterday with Max Keiser and this whole idea of
36:11
the global hash war playing out. And I think this is the signal
36:15
going on. And as much as a lot of
36:17
Bitcoiners are thinking that, hey, you know, I'm not, I don't
36:20
know how I feel about any nation state adding Bitcoin as a
36:24
strategic reserve asset. The game we're seeing right now
36:27
is that ever since Wall Street has entered into the Bitcoin
36:32
space with a huge splash, everyone is now waking up to the
36:36
fact that, oh, if I don't at least at the very least try to
36:41
engage with the Bitcoin industry, then I'm going to be
36:43
left behind. And this last week we saw that
36:47
Russia is in in their country, or at least through banks and
36:52
whatever the the technicals are, they're allowing Bitcoin and
36:56
crypto trading in their country. So you're saying that this
36:58
global hash war is playing out. A lot of countries are
37:02
incredibly far behind El Salvador in that regard.
37:05
But again, we got to remember, El Salvador has AGDP of like $32
37:08
billion. So they're, they're a tiny
37:10
country. So seeing the UK at at the very
37:13
least attempt to try to engage with the Bitcoin industry, I
37:17
think is signal for what's to come that more, more countries,
37:20
hopefully more first world nations are starting to actually
37:24
look at Bitcoin as a legitimate, hopefully soon currency or our
37:27
money versus just property. And of course, like Nico's
37:31
saying, there's, there's a lot of technicals that we could
37:33
probably argue against that are bad and that that they aren't
37:36
actually helping their citizenry.
37:37
But the fact that we are seeing the global hash war play out
37:41
that people are waking up to the idea that, oh man, if I don't
37:44
embrace Bitcoin, I'm going to be left behind.
37:46
Of course, everyone needs Bitcoin.
37:48
We say it all the time, 8 billion people in the world and
37:50
we all have the same problem is that you can't save and Fiat
37:53
currencies. It's that our money is broken
37:55
and we have a solution now. It's called Bitcoin.
37:58
So even if it's not perfect, I do like to see that they are at
38:03
least attempting to engage with the Bitcoin industry.
38:06
And like you said, any time I see some kind of bills or
38:09
legislation be pushed in regards to Bitcoin and the crypto
38:12
industry at large or the shit coin industry at large, it
38:15
always makes me iffy because again, we're we're talking about
38:18
bureaucrats. And I saw a really good naval
38:21
tweet yesterday where he said something on the lines of
38:25
technology is the innovator. Technology drives the innovation
38:29
and bureaucracy and governments and regulation basically dampen
38:33
that. And so as a Bitcoiner, as like a
38:36
free market person, I, I always get iffy when I see governments
38:40
and the like try to roll out legislation because it feels
38:46
like they're putting handcuffs on the industry.
38:47
So at least they're attempting to engage with the industry.
38:51
But this might do more harm than good.
38:53
But hey, we are seeing this play out in real time.
38:57
Everyone is at the very least starting to at least acknowledge
39:00
Bitcoin as a legitimate investment.
39:02
And then we're seeing corporations also start to
39:04
acknowledge Bitcoin as a legitimate investment.
39:07
We're seeing the institution start to dive in feet first.
39:10
And now we're seeing that it's also playing out on the nation
39:13
state level. So as Narwhal was saying in the
39:15
comments earlier, maybe Samson Mao does know something that we
39:19
don't know on the nation state level.
39:21
And all we really need is. I mean, that's what he's what a
39:24
big announcement. Yeah, exactly.
39:25
He's literally dedicating his life to nation state adoption.
39:28
So maybe he does something, maybe he does know something we
39:31
we don't. But yeah, man, I mean, a mega
39:35
candle coming. I'm wondering, do we have?
39:38
Yeah, we have. We have a little bit of time to
39:40
discuss this. Just just very rapid fire
39:44
observation. Bitcoin price fell as the as the
39:49
presidential debate began. So here's when the presidential
39:52
debate started happening and it started to go lower.
39:56
And I really believe this has to do with the fact that Kamala's
40:01
odds went up during her odds of winning according to the betting
40:06
markets, went up. When she was debating people,
40:11
people expected her to perform. Way worse than she did.
40:15
She overperformed in the eyes of a many and Trump underperformed
40:19
in the eyes of many. And we know that a Bitcoin Trump
40:23
is the pro Bitcoin candidate and Kamala is the anti Bitcoin
40:27
candidate. And I'm just wondering like I,
40:29
I, I think that depending on the results of the US election, I
40:33
think that it might have consequences on the price of
40:36
Bitcoin. And no, I'm, I'm telling you, I
40:38
think it might, I think it might have consequences because the
40:42
regulatory environment is going to be radically different
40:45
depending on which candidate is going to win.
40:47
So call me. Let me call me just chat.
40:53
Wow. Freudian.
40:54
No, no, no, no. I saw, I saw someone in the chat
40:57
saying Kamala. Yeah, we're.
40:59
Saying it wrong, I got yelled at that before.
41:01
It's not Kamala. It's.
41:03
Kamala Kamala like. Kamala.
41:07
OK, anyway, that's messed up anyways.
41:11
Oh, that's. That's how you say it.
41:12
It's like saying Kamala. Yeah.
41:13
Kamala. Not not Kamala.
41:16
OK. Kamala.
41:17
Kamala, Kamala. Gotcha.
41:19
OK. So opti as agnico.
41:20
Can't speak. I can't even say pizza.
41:23
OK, Opti, what's your take on all this?
41:25
Yeah. So I'm a little conflicted on on
41:31
that idea and I will kind of cover some ideas in the culture
41:34
as well. But I think it doesn't
41:38
necessarily have to do with Kamala in general and her doing
41:41
well. I think it has more to do with
41:44
the fact that there is a lot of uncertainty going into the
41:47
elections. And that's probably why people
41:50
are divesting and what they think is the risky asset, which
41:53
is Bitcoin. And as we know with markets,
41:56
people sell what they can sell the quickest.
41:58
And of course Bitcoin is the most liquid real time metric of
42:01
what's going on in the world markets.
42:03
And so that's probably why the price is going down is because
42:06
not everyone is an ideological Bitcoiner and they're going to
42:10
hold on to Bitcoin until moon or you know hold Bitcoin until Fiat
42:14
dies etcetera. They are looking at it as an
42:17
investment. So when there is a lot of
42:19
uncertainty in the world, people start to move capital from one
42:22
investment to what they think is a more riskless asset or
42:26
riskless investment. And I think that's what we're
42:28
seeing right now. I don't think it has to do in
42:30
general with one or the other candidate and how they did in
42:33
the debate. I think it's just moving, yeah,
42:36
moving capital from what they think is risky to what they
42:40
don't think is risky. And again, the the status quo
42:43
right now. Yeah, exactly.
42:46
Like we got to remember what money is.
42:47
Money is a a tool so that you can minimize uncertainty going
42:54
into the future. And so most people still don't
42:56
view Bitcoin as a money. They just kind of view it as a
42:59
speculative asset, a speculative investment.
43:01
And so most people think that treasuries or, you know, real
43:05
estate or something of that sort is the least risky thing to put
43:09
your money in for the long term. All of us Bitcoiners have had to
43:12
kind of flip that thinking on its head.
43:15
And we think the opposite. We think Bitcoin is the stable
43:17
coin. Bitcoin is the safest thing to
43:19
be holding on to, even if it is volatile the tile.
43:21
And so I think this is what we're seeing.
43:22
We're seeing a lot of big, big deep pockets move investments
43:27
out of Bitcoin because there is so much uncertainty in the
43:29
world. And as much as we've been kind
43:32
of covering that the Republican Party is becoming more pro
43:36
Bitcoin and the Democrat Party, as much as they've been saying
43:39
that they're going to do something good for us, our anti
43:41
Bitcoin and more pro CBDC. I, I'm kind of leaning towards
43:46
the idea that either way, you know, as we get yelled at every
43:49
single day, Bitcoin doesn't need politicians.
43:52
I think either way, whoever gets elected, Bitcoin is going to
43:56
pump, not only just because of the cycles, but if you think of
43:59
it, people are kind of leaning towards this idea that Trump is
44:02
going to be more free market or, you know, quote free market and
44:06
the economy is going to do better.
44:07
And if Kamala stays in the position of power, then the
44:11
economy is going to go to trash. And so on the one side, we, we
44:15
have Kamala coming in and everything gets new, hence why
44:19
we're going to get some hyper, hyper explosive Bitcoin
44:22
movements at more on the, the terms of acceleration or we get
44:27
four years of cover with the Republican Party as the
44:29
president. But either way, I, I, I think, I
44:32
think these are kind of like, what's the coincidences and not,
44:37
what's the correlation, not causation, but you know, what do
44:40
I know? I'm I'm just a bitcoiner that
44:42
stacks Bitcoin. Yep.
44:43
Just stay humble stack stats. Your life just gets
44:46
progressively cheaper, regardless of who is in power.
44:49
That's the that's the power of using Bitcoin as a unit of
44:52
account. So opt out if you don't want to
44:55
deal with political money start living the American dream.
44:58
No matter where you are around the world.
45:00
If you're saving and earning a Bitcoin and you have a low time
45:04
preference, you know gives you a lot of hope for the future.
45:08
Anyways, everybody let's get to the culture.
45:10
Lots to talk about. Let's check it out.
45:11
Here we go. All right, everybody, I want to
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46:16
So download the Orange Pearl app today, scan the QR code on your
46:19
screen or check the link in the video description.
46:22
So I'm, I'm quite interested Opti, what are we going to talk
46:24
about during the culture segment today?
46:28
You're talking about What are you talking about?
46:30
What, what were you talking about?
46:31
Opti? Are you going to get us in
46:32
trouble? I no, no, no, I'm, I'm, it's,
46:35
this is very, very kosher today. I mean, I might get us in
46:38
trouble not not by the overlords, but by our chat
46:41
because I am going to pull out some charts and this is just
46:44
kind of what I'm seeing here. I don't do TA much, you know, I
46:47
occasionally look at lines and just wonder when we're going to
46:49
break certain stuff. When?
46:50
When? When paid group.
46:52
Soon hit my DMS. I'll tell you one.
46:55
Give me one Bitcoin, I'll give you 2.
46:58
No, that's a. Joke.
46:59
That's a Yeah, that's a joke. That's a joke.
47:01
So me and Nico actually let me let me full screen myself real
47:04
quick. So, you know, our job here at
47:06
simply Bitcoin is of course keep you guys up to date, but we also
47:10
look at kind of what's trending on YouTube and what the viewers
47:14
out there on YouTube are looking for.
47:16
And I think we've all kind of felt this same same feeling that
47:20
the Bitcoin price is so boring right now.
47:22
It's literally the meme of, of us poking the Bitcoin logo and
47:26
like, do something, do something and then it and then it dumps.
47:28
And we've been in an incredibly long bear market.
47:32
I know cheap sets are good, but it has been brutal for an
47:35
industry in total this, this crab market, bear market.
47:39
I think at this point, it's officially the longest bear
47:42
market in history. Obviously we only have what,
47:45
three data points, but it's still been a long drawn out bear
47:49
market because of a lot of factors.
47:51
And so right now me and Nico were kind of talking about this
47:54
the other night. What what do most people if they
47:57
are newer to the space right now, what are they thinking?
47:59
They're wanting to know? Why is the Bitcoin price so
48:02
boring? Why isn't the Bitcoin price
48:04
pumping win Omega candle, all the good memes.
48:07
And so I kind of want to not give you guys some opium, but
48:11
just see what a lot of people on Twitter are saying and where I
48:15
think we are in the cycle because I've been saying this
48:18
for a long time. So with that being said, let's
48:20
look at some of this stuff. First and foremost, absolutely
48:23
love Checkmatey or yeah, check maybe on Twitter.
48:26
Highly recommend you guys look at his newsletter, follow him on
48:29
Twitter. He's giving a lot of really good
48:32
sauce on his Twitter. So TXMC goes, has the bull
48:36
market ended? Which is why I wanted to do this
48:39
little bit because I think a lot of people are feeling this.
48:41
And if you're newer to the space, you're like, man,
48:43
Bitcoin's never going to break all time high.
48:45
It's dead. It's over 58 K forever.
48:48
The 58K gang manipulating the price out there.
48:50
This is this is whack. I came here for the riches and
48:53
now I'm poor. No, I'm not.
48:57
I'm trolling. Came for the money, stayed to
48:58
fix the money. Anyways, Checkmatey goes has the
49:01
bear market ended. So the first one has the bull
49:03
market ended. And Checkmatey goes has the bear
49:05
market ended. And so you can see this chart
49:08
here, Bitcoin inflation adjusted by price via $2020.00.
49:12
And you can see what we see on this top chart.
49:14
New all time high above cost basis.
49:17
So here's the last kind of pump in what was it, 2021.
49:21
And remember we were all talking about, wow, the Bitcoin price
49:25
got to all time high before the halving.
49:27
It's never happened before. And on the chart, yes, that's
49:31
kind of what it looks like. But again, remember in 2020,
49:34
we've basically printed half of all dollars that have ever been
49:37
printed. And if you go to the CPI
49:39
calculators out there, it kind of shows that technically in
49:43
purchasing power terms, we haven't actually broken Fiat all
49:47
time high in Bitcoin price and Fiat terms.
49:49
And so here's Checkmatey's response.
49:51
What what we see is bitcoins new all time high above cost basis,
49:54
but what we are actually feeling right now is that we haven't
49:58
actually broken an all time high in in terms of dollar cost
50:02
inflation adjusted price. And I think that's kind of what
50:05
everyone's feeling right now and we don't really have too much
50:07
metrics. Again, I'm not going to
50:09
necessarily give you price predictions here.
50:11
It's just kind of giving us a road map of where we are in this
50:14
cycle. So I really like this Checkmatey
50:17
post, you guys again, go follow him on Twitter.
50:19
And this next one, which kind of goes back to what we just
50:21
covered in the news, is this idea that Bitcoin price usually
50:26
doesn't start to take off until after the election cycle, which
50:30
might be 1 of Satoshi's genius inventions or genius addition
50:34
additions to the Bitcoin network in general.
50:37
Is this 4 year cycle playing out exactly with the presidential or
50:41
rather the US presidential elections?
50:43
You think you did it on purpose. I don't know.
50:45
I I mean, let's let's just say yes, it it feels like it's on
50:49
purpose, but there's just so many different small
50:52
coincidences that happened that it almost seems like he had to
50:55
have done it on purpose. But who knows?
50:58
We can only speculate and I don't want to mind read here.
51:01
But this next one is another great kind of just framework of
51:04
where we are in this cycle. Is Marty party music.
51:07
He has Rd. maps to consider. You are here and you didn't buy
51:10
enough. So you can see we have the 2016
51:13
and I don't know what this is. Is this blue and blue here?
51:16
It might be purple, I don't know.
51:17
And you can see that all time high.
51:20
That's the one that got me into Bitcoin in 2017.
51:23
That's the one that we're all kind of referencing today saying
51:27
that Bitcoin could do a 20X it did in 2017.
51:30
And then we have the 2020-2021 bull market.
51:33
You can I guess call that where we always say that we kind of
51:37
got stumped out because of the China mining ban.
51:39
And then we are here in the white and you can see right here
51:43
is this line. And for the audio listener,
51:45
sorry, I can't really explain it too much, but come over to
51:49
YouTube and here's the American elections line in November.
51:53
And it kind of goes sideways and crabs until the elections.
51:56
And then after the elections, things start to get really
51:59
frothy, which is kind of what I was just saying that a lot of
52:02
people are when they feel uncertainty, they don't they
52:06
don't make any rash decisions. They go into safe assets or
52:09
maybe they just go straight into cash.
52:11
And then once the elections and that uncertainty has passed,
52:14
they start to go deep into the stock markets, into equities,
52:17
into the assets and commodities. And so this chart, I think is,
52:22
is very telling of where we are in the cycle that we're probably
52:25
going to do a little crabby climb until the election, all of
52:29
what Mandrick was saying earlier.
52:31
And so we'll see we have what about a month or two until the
52:35
elections. So right now is a good time to
52:37
just continue stacking and getting into position and then
52:41
going a little deeper. Another great content creator,
52:43
if you like charts and you like people mapping out what's going
52:47
on in the macro is onsale Linder on Twitter.
52:50
He's got his own show on YouTube as well.
52:52
And he goes, gold is decoupling from Bitcoin leading like it did
52:55
in 2020. Note gold is on a normal scale
52:59
and Bitcoin is on log and gold rally was 40% versus Bitcoin
53:02
660%. So you can see in the last bull
53:05
run in 2020 that once Bitcoin decoupled from the Bitcoin price
53:09
and started to kind of lead the rally again, you got to remember
53:13
that gold is essentially the lead leader in the quote UN
53:15
quote hard money gang. It's basically our uncle or
53:18
grandfather, however you want to look at it.
53:20
But if you are traditionally a hard money advocate, then you're
53:24
a gold bug. But there's a new kid on the
53:26
block and it is Bitcoin. So we're still in our nation
53:29
stage. We're still young.
53:31
Remember what we said yesterday that the age of Bitcoin is what
53:34
matters and gold has what a 2000 year head lead on its age and
53:39
Bitcoin is only at 15. So we're seeing that in 2020.
53:43
Once this happened, that's when we we really started to go back
53:46
into the bull run. Well, we finally got that
53:48
decoupling and bitcoins kind of going sideways a little down.
53:51
So soon enough, maybe we'll give it a couple of months.
53:53
It should seem that the Bitcoin price to start running again,
53:56
maybe around the election and another metric here, which I
53:59
thought was pretty interesting. Again, this is kind of
54:02
referencing gold with Bitcoin price and I I really don't know
54:06
who this guy is, but I think this is some, you know, Bitcoin
54:09
analysis. Go don't.
54:10
I was I was going to troll and say go join his TA, but don't
54:12
don't join his TA group. All right, but he goes Bitcoin
54:14
bull bull run begin every time there is a global liquidity
54:18
index breakout, a bull run begins.
54:20
And you can see again referencing the 2017 bull run
54:24
right here for the visual people that once it breaks out over
54:28
this red line is when the price starts pumping.
54:31
And this is played out multiple times throughout Bitcoin's life.
54:35
Again, it's it's not too many data points.
54:38
So we're just kind of speculating on this, but we do
54:41
see that there is some correlation with this indicator
54:45
here. And again, I'm not a TA guy.
54:46
I am not telling you to trade your life based on some TA from
54:50
Twitter. I'm just giving you like where
54:52
my head is AT and where I think we are in this cycle.
54:55
So we just broke out of that what was a global liquidity
54:59
index breakout. And so it seems like what we are
55:03
all feeling that we are going to start to see a bull run or the
55:07
next leg of the bull run start to commence, whether it's after
55:09
the elections or not. We're starting to see some good
55:12
signs of health in the network. And this last one is is really
55:17
interesting. I haven't seen this chart
55:18
before, but I find it very oh, it's actually from the same guy,
55:22
but someone else just posted it. So shouts out to aura lane, aura
55:26
lane Ohayan, sorry, bro, apologies and I really like this
55:30
and I of course, anytime I can really stockpile some opium in
55:35
this about super cycle, I'd I'd love to do it.
55:37
So Kyle chase chassis goes. If you don't know what a super
55:41
cycle is, you're going to find out real soon and I'd love this.
55:44
I really don't know know what these indicators are, but I do
55:48
love this idea because I do believe in the banana zone and
55:51
that's where we're headed. So you can see it.
55:53
I don't know how, I don't know what these circles are, but it
55:56
seems to be following this very similar pattern where we are
56:00
going to get an incredible bull run going into the 2025 year and
56:05
possibly top out at, you know, beginning of 2026.
56:07
Essentially, he's got an indicator here, 400 Ki.
56:10
Don't think the price matters much.
56:11
It's more of where we are in the cycle that I wanted to cover
56:14
this and it really goes to this picture here.
56:19
To sum it all up, is the Bitcoin having cycles, AKA the Banana
56:23
Zone guys. So we've seen this play out
56:26
multiple times, rather four times.
56:28
I know the data points in the Bitcoin network are not too
56:32
many, so we can't figure out a trend here, but based on past
56:36
performance in Bitcoin, it seems like we are at the point now
56:40
whether it's because of the election, because of the four
56:42
year cycle, we're at the point now where and of course, this
56:45
chart here for everyone on YouTube, this is in it's not log
56:50
chart. So that's why it looks so
56:51
incredible. But you can see 2020 it goes
56:54
kind of sideways. It it, it kind of range bound
56:57
and then it starts to go absolutely nuclear and you see
57:00
some Omega candles. Same thing happened in 2616.
57:03
The having happening. Then it kind of goes sideways.
57:05
You crap for a little bit and then we'll argue for the point
57:09
of this bit that around the election is when the price
57:12
starts running again. In 2021 we saw something similar
57:16
after 2020 and 2024. This this was posted I think
57:21
towards the end of August, but I think it's still a great visual.
57:25
So we're at this point right now where it's probably gonna go a
57:28
little sideways. And then after the election,
57:32
probably the end of 2024, going into 2025 is when we're really
57:36
going to enter that banana zone. Anyways, with that all being
57:40
said, I'm not here to give you my training group, my TA advice.
57:45
I just want to give you guys the new people in the chat, the
57:47
people that are here and they're wondering what's going on with
57:49
the Bitcoin price. They're like, man, this price
57:52
action is boring. I was promised Lambos, I was
57:55
promised 100K. I'm promised a million Bitcoin
57:58
on this show. What's going on?
57:59
We can't even break out of 58K. And again, the signal remains
58:05
the same. Stick to the plan, work hard and
58:08
stack Bitcoin. All else is noise.
58:10
And this is Luke Belmar saying this on Twitter.
58:13
If you guys don't know him, he's kind of a pretty big influencer
58:17
and now that signal is spreading out all around the world that
58:21
look, nothing has changed here. Bitcoin keeps taking on TikTok
58:25
next block. The fundamentals of Bitcoin I
58:27
think have never been stronger. We have a perfect storm on the
58:30
horizon, whether it's the institutional capital coming in,
58:33
whether it's the nation state, global hash war playing out,
58:36
whether it's the potential retail FOMO that we should see
58:39
coming up in 2025 and then of course the having cycles play
58:43
out. I think we are seeing a perfect
58:46
storm and these these things will cascade on top of each
58:49
other. And I think 2025 is going to set
58:51
out to be a really great year for Bitcoin and it's going to be
58:54
really crazy, really frothy. And I just think right now for
58:58
everyone is just keep calm, stack SAT, make sure your cold
59:03
storage is set up perfectly. I think we are going exactly as
59:06
planned and there's no nothing to freak out about.
59:09
So if you're newer here, the plan remains the same.
59:13
Stack Bitcoin, take it into custody, continue to stack as
59:16
much as possible. 2025 is probably going to be a very
59:20
explosive year. And all of these charts are kind
59:23
of coming out right now to explain to people out there who
59:26
are wondering, is the bull mark over or the bull market over?
59:29
Are we ever going to see all time high again?
59:31
Are they manipulating the price? I think the fundamentals are
59:34
showing us that Bitcoin is going exactly as designed, exactly as
59:38
we have foreseen. So just chill out, stack some
59:41
sets, enjoy the content. We'll keep updating you guys and
59:44
all the news going on, but there's my TA for the day.
59:48
I think I do this in what, once every three months or something?
59:50
So Opti. 'S TA classes holder Opti's TA
59:54
bro alright Nick, we're getting to TA we're getting to TA stuff
59:58
yeah, this is we're at the we're.
59:59
At the bottom of the barrel and we're doing price predictions in
1:00:02
TA. No, I'm just.
1:00:02
We didn't do it. We.
1:00:03
Didn't we? Didn't do price predictions.
1:00:06
I'm probably I'm telling no we. Simply, Bitcoin does not do
1:00:08
price predictions and we don't do technical analysis.
1:00:10
Not to shit on any channels that do that, because I'm a big fan
1:00:14
of content creators in general and content creation is
1:00:17
extremely difficult and everyone has a different approach to it.
1:00:20
So I'm not judging everyone. Everyone you know has a
1:00:23
different cup of tea. If that's your cup of tea to do
1:00:26
to watch TA stuff, that's that's that's on you.
1:00:29
That's my advice on all this is just stay humble.
1:00:34
Stacks ATS time in the market and beats timing the market.
1:00:38
I've bought the tops, I've bought the bottoms.
1:00:42
I've been doing this for eight years.
1:00:43
Opti's been doing this for seven years.
1:00:46
I'm in a much better place than I was eight years ago.
1:00:49
Opti's in a much better place than he was eight years ago or
1:00:52
seven years ago. You know, Bitcoin's giving me my
1:00:55
career. I've been able to start a, you
1:00:59
know, a, a media company with, with Opti, with all the pains
1:01:02
that comes along the way, Bitcoin is hope when you save
1:01:06
and earn in a deflationary currency, the runway just keeps
1:01:11
getting longer. Things just keep getting
1:01:13
cheaper. Life just gets keeps getting
1:01:16
less expensive around you, whether that's real estate or
1:01:19
food or any of these things. So, you know, hopefully Bitcoin
1:01:25
continues to follow its cycle. I personally, my belief is I
1:01:29
think we're going to have a great Q4 specifically,
1:01:32
especially if Trump gets elected.
1:01:35
And I think we're going to have a great 2025.
1:01:38
Do I know that for sure? No, but that's just based on the
1:01:41
fact that bitcoins done this since its inception, like since
1:01:46
the beginning, it's always kind of followed this cycle.
1:01:49
And I, I, I, I think it has to do with the, the supply shock.
1:01:55
So every time there's a, having the amount of Bitcoin, that's
1:02:01
the cell pressure that's being put on the market gets cut in
1:02:05
half from the miners. And then eventually about a year
1:02:10
or so after that, there tends to be an explosive movement up.
1:02:15
That's been the case all of Bitcoin's history.
1:02:18
Does that mean that it's going to be like that moving forward?
1:02:22
No. But at the same time, if you
1:02:24
look at the fundamentals, Infinity divided by 21 million,
1:02:28
the fact that all these institutions, a Black Rock, you
1:02:34
know, Cantor Fitzgerald, Wisconsin Pension Fund, Wells
1:02:38
Fargo, JP Morgan, all have exposure to Bitcoin.
1:02:42
BNP Baribas, the second largest bank in Europe, Goldman Sachs,
1:02:46
has exposure to Bitcoin. Michael Saylor's stock is
1:02:49
outperforming the rest of the S&P 500, including NVIDIA.
1:02:53
Like if you look at all of the fundamentals, it just points to
1:02:57
the fact that Bitcoin is gonna continue to outperform because
1:03:03
it is the scarcest asset on the face of the planet that has
1:03:08
unique physical characteristics that allow you allow the
1:03:13
individual for you to take self custody of it, for you to send
1:03:16
it anywhere around the world for pennies on the dollar.
1:03:19
Yes, this is a superior asset the the likes of which the world
1:03:23
has never seen before. So if you pay attention to that,
1:03:27
it, it makes you understand that, yeah, we might be
1:03:30
crabbing. But you know, I, I know that I'm
1:03:33
holding, I know that I'm holding AI know that I'm holding better
1:03:36
money like, and I sleep soundly at night.
1:03:38
I think everyone would want $100,000 Bitcoin or $1,000,000
1:03:43
Bitcoin tomorrow, right? But you know, that's just,
1:03:46
that's just part of the course. I've, you know, and another
1:03:50
thing, last thing I'll say guys, because we are getting to the
1:03:52
top of the hour and I want to, I want to open this discussion
1:03:55
with, with Opti. You have to pay your dues like
1:04:01
you. You cannot skip paying your
1:04:03
dues. And what do I mean by paying
1:04:04
your dues? Like Michael Saylor paid his
1:04:06
dues. Paying your dues is one cycle.
1:04:10
So most people, they get in it at the top.
1:04:14
By the top, you get absolutely wrecked.
1:04:16
The next year, you're like 50% down.
1:04:18
You scramble to get money together and you double down.
1:04:22
You buy more Bitcoin and you survive for like another three
1:04:27
years and then you benefit from a bull market.
1:04:31
Every cycle that you get under your belt, the better it is for
1:04:35
you financially and economically.
1:04:37
So it's just about how many cycles you've endured, how many
1:04:41
cycles you've put up with. And that that tends to indicate
1:04:46
to me how people how, how they're doing, right?
1:04:52
It just comes down to cycles. Like pure, simple, like how many
1:04:55
cycles have you been in Bitcoin? That gives me an indication of
1:05:01
where you are in your Bitcoin journey, in your rabbit hole
1:05:03
journey. It takes a minimum of four
1:05:07
years. Like to put it blankly, if you
1:05:10
want to speculate on shit coins and altcoins, you have every
1:05:15
right to do so. They trend to 0 towards Bitcoin.
1:05:18
All of them do. But you have every right to do
1:05:22
whatever you want with your money.
1:05:24
But Bitcoin in my eyes is a sure bet.
1:05:28
All you have to do is you put in a portion of your salary into
1:05:31
Bitcoin every single day or every month.
1:05:35
And you do that for a decade, you're going to be in a really,
1:05:38
really good place. That's that's what would be that
1:05:41
would be my advice. I don't know where we're going
1:05:43
to end up in 2025. I don't know where we're going
1:05:45
to end up at the end of 2024. But my advice to you is pay your
1:05:50
dues, hold for the cycles, believe, stay disciplined in
1:05:54
your stacking, make sure that you have more Bitcoin than the
1:05:57
day before. And if you do that, you're,
1:06:01
you're going to be in a much better place compared to where
1:06:06
you started. Look, we got SAT wise Jenks in
1:06:08
the chat. He says it took me about eight
1:06:10
or nine years to not give a shit about Bitcoin's price, but it
1:06:13
feels good to have achieved that.
1:06:14
Yes, that's what American huddle calls Bitcoin Zen.
1:06:18
I'm like, I'm it you just like it gets to a point where like
1:06:23
the volatility is just you're just like, OK, whatever, you
1:06:27
know, So I promise you that at 58,000, you'll be looking back
1:06:32
10 years from now when Bitcoin's at, you know, a couple
1:06:35
$1,000,000 per coin, hopefully, and you're going to be like,
1:06:38
dude, do you remember when we were able to buy at 58 K?
1:06:41
Like we'll be, you'll be making jokes about it.
1:06:43
So that's my advice. I went on a little bit of a
1:06:45
tangent, but I hope you guys find this useful.
1:06:49
Opti's going to be holding down the host seat tomorrow.
1:06:52
I'm going to be going back to Miami.
1:06:53
Then I'm going to be going to Vegas next week for
1:06:56
Unconfiscatable. Hopefully we'll be doing a
1:06:58
couple live shows live from Las Vegas.
1:07:01
BTC Sessions is going to be with me and Tone Vase.
1:07:03
Hopefully we work them into the live stream.
1:07:05
Opti's going to be holding it down the days that I'm
1:07:07
travelling. Anyways, guys, this was simply
1:07:09
Bitcoin Live for September 12th, 2020.
1:07:13
September 12th, 2024 I'm your host Nico.
1:07:16
This is my Co host Optimus Fields.
1:07:19
We love you all. We appreciate you all.
1:07:20
If you guys enjoyed the show, make sure to smash the like
1:07:22
button, share the video, feel like subscribing if you feel
1:07:26
like we provided you value, and we'll see you tomorrow for a
1:07:28
brand new episode of Simply Bitcoin Live.
1:07:34
You buy bitcoinwell.com, a Bitcoin only platform, on a
1:07:37
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