Latest / Simply Bitcoin / Governments Continued Attack on Proof Of Work mining, are we winning? | EP 471

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Governments Continued Attack on Proof Of Work mining, are we winning? | EP 471 · Simply Bitcoin

0:07
Welcome back everyone. We're simply Bitcoin.
0:09
We break down the news. The daily fail mean review.
0:12
Software releases Hardware releases and the pleb sites.
0:17
Joining us today fellow a Bitcoin Ur co founder and
0:23
co-owner of represent. I'm talking about David X.
0:28
David thank you very much for. For joining us and he's one of
0:31
the sponsors of the show. So thank you very much.
0:34
Thank you. It's an honor to be here and
0:36
watch you guys every day. I love something big one.
0:38
Oh man, thank you so much. All right, guess what?
0:41
David hasn't been on the show yet?
0:42
So he's about to go down the rabbit hole with us.
0:44
Here we go, Nico, let's dive into the numbers.
0:47
Brought to you by not all they make some of the best Bitcoin
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comfort of your own home. Remember guys, if you don't run
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your own node, you're using someone else's.
1:05
The nozzle is a great option, get yourself, a novel dojo
1:09
today. At the time of this recording,
1:10
the block height is 730 3057, the Bitcoin price, thirty nine
1:14
thousand four hundred eighty chain rewrite day 735, total
1:19
public, lightning capacity, 3600 19.61, Moscow time, 2533, blocks
1:25
to the having a hundred and six thousand, nine hundred forty
1:28
three and the The samurai Whirlpool, unspent capacity,
1:33
Samurai Whirlpool is a coin, join our collaborative.
1:36
Spend it is not a mixing service and the unspent capacity from
1:40
that pool is 4500 10.25 Nico. The numbers, the numbers Row,
1:48
the numbers people still don't realize that we've been using
1:52
the same or just we just skip it.
1:55
We just really $200 down from yesterday.
1:57
And like we did this whole massive dump and Oh man, it's
2:01
not even a massive dump. Bitcoin is the new stable coin.
2:04
Anyways, guys, for the numbers today, I want to talk about this
2:07
was a very, very sad tweet. And I also understand this
2:14
because, you know, I'm in the market for purchasing a new
2:18
home, and I've had conversations about this with Phil and in
2:23
Miami, it's absolutely insane, right?
2:27
It's just it's they don't even make sense anymore.
2:29
More. And why is this happening?
2:31
Why is why the price of real estate going up in Miami?
2:34
It's up 37%, right? You know, and I think the
2:36
average for the United States about 20%.
2:39
Why is it going up? Something called asset
2:41
inflation? What is ass inflation when when
2:43
the fed or any Central Bank floods, the you know, the banks
2:49
or the country with this fictitious money, that wasn't
2:52
created by the economy causes inflation.
2:54
And what do you what do wealthy people do people that have the
2:58
means? Well, they Flee to at, they flee
3:01
to things that actually have value, right?
3:05
So, equities, gold, real estate. So what tends to happen in
3:10
places in times of high? Inflation is asset prices, go
3:15
through the roof and that's exactly what you're saying.
3:17
You're seeing it in food seeing it in energy costs, etc.
3:19
Etc. But look what it has done right
3:22
and check out the this tweet by Denver Bitcoin.
3:24
It's a screenshot of a den of a Reddit post.
3:27
I'm so done with home prices. Has crazy price spitting by Rich
3:31
assholes, the house, across the street.
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From my parents was building 2014 sold for 185 K4.
3:36
At the time, I went to college aspiring to own a simple home
3:39
like that. At the time, going through
3:41
college 2014 to 2018. I thought I will work hard until
3:45
I'm 30 save up for a down payment that will that I will be
3:48
able to afford a starter home. Like this was like this with a
3:52
spouse four days ago. The house was listed for 540 K
3:57
today. It's sold for And 35k literally
4:03
what the FI have lost hope in everything.
4:05
I'm I'm stuck living with my parents because I can't afford
4:09
anything. My apartment that I rented in 28
4:11
2019 was $800 a month Nat right now it's twenty eight hundred
4:16
dollars a month. In order to qualify your income
4:18
must be three times the monthly rate, who can afford and this is
4:23
the thing. Who can afford these prices.
4:28
No one. And this is a day.
4:29
Direct consequence of the concealing effect and you know
4:33
who is buying all the single family homes in America are a
4:36
lot of them BlackRock. It's remember guys, you do
4:40
nothing and be happy. This is part of the being happy
4:43
part. So why this happened right?
4:46
The start of it was Richard Nixon's decision to take us off
4:50
the gold standard, right? And let's take a look at what
4:54
the cost of living was back in the day for house, right?
4:59
25 Thousand dollars. Of course, you have to adjust it
5:01
for inflation, which I did with this very Nifty calculator,
5:05
right? So the average price of a home
5:08
in 1971 was twenty-five thousand dollars.
5:11
If you adjust that for inflation, it's 177,000.
5:16
So things were still even with inflation significantly cheaper
5:22
which is why the millennial generation and the Zoomer
5:25
generation are considered Russian serfs.
5:28
We are significantly poorer. More than our parents, because
5:31
the central planners at these banks are printing money into
5:35
Oblivion, and it's a wealth redistribution from the Have
5:39
Nots, right? That can't afford to save and
5:42
equities and and real estate to the Haves and the government,
5:46
the rich get richer. It's literally a problem created
5:49
by Fiat money and the Fiat system we have today.
5:53
It's not normal that you can't be able.
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If you work hard, you go to school.
5:58
It's not normal that you're Able to afford a home.
6:01
The median home price in the United States is 374,000 that I
6:05
wanted to end it with that, right?
6:07
So that's more than double of the 1970s even with adjusted for
6:13
inflation. What the f is that have you you
6:17
guys used to notice that it used to be a single parent that would
6:20
go and work and they would have a card, a nice house.
6:22
The wife would stay at home. Now we should be both parents
6:26
have to have Two jobs just to afford things and that isn't
6:31
your fault. That is literally caused by Fiat
6:34
and that isn't the economic model either.
6:36
Okay, because socialism won't solve this problem either.
6:39
It capitalism works just fine. The problem is that, the money
6:42
is fundamentally broken because in a socialist system,
6:45
essentially what would happen is you would replace, you know, the
6:49
capitalistic Elites right with the bureaucratic Elites and then
6:52
everyone else would be poor. So it doesn't solve the problem.
6:55
The problem is that the money is Causing this Frankenstein, crony
7:01
capitalism. I don't even know.
7:04
Phil help me with descriptions because, like, dude, it's a
7:07
nightmare. I just really, I just really
7:10
wanted to point out because you mentioned the Zoomers and the
7:12
Millennials but the Gen xers. Okay, we were the first
7:15
generation to have less than the generation before us, right?
7:19
The Boomers they were doing just fine, but the late gen xers,
7:24
right? Like those of us that are born
7:25
in the like 70s. All right.
7:28
We know, we know totally. No one cares about you guys.
7:31
Dude, I know nobody cares about your skin again.
7:33
Kidding. That's why they call us the
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Forgotten generation. Nobody gives a shit about us.
7:37
Like, we don't even exist. It's like people, even call us
7:39
Boomers were like, no, we're not Boomers.
7:40
We we are same things, but the Gen xers.
7:44
Were the first ones where we like, you know, you came out,
7:47
you know, listening to these stories from Boomers, right?
7:50
Like people like my father that were like oh, you know what?
7:53
When I opened up my own business?
7:54
I went I, you know, got a Got a small workspace paid the rent,
8:01
you know, for like the first three months and then I started
8:03
off at the top floor and then I spoke to every single business
8:06
there and by the time I got to the bottom floor, I had all my
8:08
customers like literally he was able to create two people salary
8:12
in one day, okay? Like you to try and do that
8:16
today dude. It's completely different.
8:19
It's Bonkers bro, it's Bonkers. Anyways.
8:22
David what are your that might might my it's funny that you
8:26
said that he bring up that the housing thing.
8:28
I'm actually I was trying to buy my family's house right now and
8:31
I placed a pretty good offer on it and at Market they're like
8:36
200,000 over what I offered it. I mean, they bought it for like
8:39
50 or like, 45k back in the 50s and now that things worth like
8:44
seven eight hundred thousand dollars.
8:46
It's fucking crazy. Absolutely crazy, dude, dude.
8:49
It, man, I don't hug it. I don't really give.
8:53
Or did I make pretty good money, too?
8:55
Big a big, dude. Verizon for Bitcoin, I'd be
9:00
hosed. I make a decent amount of money,
9:02
dude, and and still, bro, like, you're looking at these housing
9:06
prices and you're just like this is ridiculous like and and and
9:11
that Reddit post completely encompasses that like, dude it
9:17
man, it's sad but Bitcoin fixes, this only if you opt out and
9:20
take some custody though. Anyways, Phil it's time for the
9:24
daily fail. Brought to you by Amber app.
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9:41
That sounds. Alright guys, we've got one
9:45
major fail today. That's right.
9:47
Yesterday, we were supposed to review.
9:49
Sam Callahan's, amazing dismantling and documenting of
9:54
the imf's 10 major points. Now Before we dive into it
9:59
though, I've got a preface this because we're going to show a
10:01
video to start with. It's a video of the IMF managing
10:04
director kristalina, georgieva. And she's essentially explaining
10:10
how they handled the other how they handled the money supply
10:14
during the crisis and essentially just that they have
10:17
no idea what they're doing. So before we dive into the 10
10:21
steps from Sam Callaghan, we are first going to start off with
10:25
this cringe, AF video. Here we go.
10:29
Madame, empty. I think we are not paying
10:33
sufficient attention to the law of unintended consequences.
10:38
We take decisions with an objective in mind and really
10:44
think through what may happen. That is not our objective, and
10:51
then we wrestle with the, with the impact of it.
10:57
Take Any any any decision that is a massive decision?
11:03
Like the decision that we need to spend to support the economy.
11:09
And at that time, we did recognize that may lead to too
11:15
much money in circulation too few goods but didn't really
11:21
quite think true the consequence in a way that upfront would have
11:26
informed better what What we do and I subscribe in touch, okay?
11:31
Okay. That's yeah, that's where we're
11:33
starting, okay? We are starting with that right
11:36
there and the look on your face. Nico is absolutely Priceless,
11:39
right? So I want you guys to think
11:41
about this for a second. Before we dive into Sam
11:43
Callahan's, amazing article, okay?
11:46
I want you guys to think about this, their entire job is is
11:52
monetary policy and they didn't think through the printing of
11:57
money effect. It's that was your only freaking
12:00
job was to do that. Like you had one job, you had
12:06
one job, right? Like that's the mean you had one
12:08
job, like that is complete bullshit.
12:12
Anyways. Oh no, one deserves that much
12:17
power. And what are the unintended
12:19
consequence? Like you said of all that money
12:22
printing, dude. People can't afford homes.
12:25
All the rich got significantly richer.
12:27
The government's did fine. But everyone else, right?
12:31
Upper middle class, middle, class, lower class, you got
12:34
totally wrecked because you can't afford to most people
12:38
can't afford to save in, you know, harder assets, right?
12:41
Like, dude, it is. Dude, it is disgusting to say
12:45
the least, but are we to believe that the IMF and the people
12:49
working at the IMF aren't aware of what happened in Weimar
12:52
Germany? You know what I mean?
12:54
Like this is, this is just weird.
12:57
It's just weird. Psychotic and people just play
13:00
along with it. They got creds though.
13:01
Phil ah the creds to get us every time with the creds.
13:07
Alright? Alright, let's dive into the
13:09
Sam. Callaghan, shout out to you bud.
13:11
This is an awesome. Awesome tweet thread.
13:14
Obviously it's linked in the show notes, Here we go, I've
13:16
been Behind Enemy Lines reading everything.
13:18
The IMF is put out in the last two years.
13:20
Here are 10 pieces. I found most relevant to bitcoin
13:26
number one. Let's start with the The imf's
13:29
know to titled blockchain consensus mechanisms a primer
13:32
for supervisors. May as well have been titled,
13:34
slander proof of work and promote proof of stake.
13:38
All right, let's take a look at this from the IMF staff proof of
13:42
work is to energy-intensive to be considered a viable.
13:45
Consensus mechanism involving Megan many regulated Financial
13:48
Service activities, it runs counter to several IMF Ames.
13:52
There's the signal, particularly those that involve transitioning
13:57
to a Greener Our economy. I yes we're gonna we're gonna
14:01
save the oceans and the fish with money significant energy
14:05
consumption, the nature of forking and the attendant issues
14:10
around probabilistic settlement are likely to create friction
14:14
with many regulatory Frameworks. All right, I'm going to
14:18
summarize it. Bitcoin is going to make us
14:21
completely irrelevant and we can't.
14:27
All right. Dave, you want to throw
14:29
something in? No, I mean it's pretty
14:32
self-explanatory right there. Yeah they I mean this is this is
14:36
great stuff. Alright, so here let's let's
14:38
move on. Alright Point number two, this
14:42
piece is titled cleaning up crypto.
14:44
Another attack on proof-of-work. Once again, they cite De Vries
14:49
debunked studies on bitcoin and compare a single Bitcoin.
14:53
Tx's carbon emissions to 1.8 million Visa purchases And of
14:59
course, they push proof of stake as a solution.
15:03
Okay, this is we've already shown.
15:06
We've already shown multiple times the how the energy uses is
15:10
completely debunked but the other side of that, that
15:13
Bitcoins increased energy consumption is actually good and
15:18
is going to help Drive Innovation and actually,
15:23
especially in Renewables which is what they advocate for, which
15:26
is why you know these people You're full of bullshit because
15:30
Bitcoin is actually instead of the government subsidizing
15:34
renewable energies Bitcoins. So subsidizes renewable energies
15:37
because Bitcoin is always there to buy that load unlike the
15:42
market, right? It's dude no one a lot less
15:45
people use electricity during the day which is where, you
15:48
know, the sun panels tend to produce the most amount of
15:51
electricity, right? Because that's when the sun's
15:52
out. So Bitcoin is able to buy that
15:56
electricity. Therefore For making solar
15:59
energy actually potentially profitable, but these people
16:03
don't give a shit about that. They want power and control and
16:07
I think that IMF thing perfectly at least they admitted it.
16:11
Someone probabilistic to our framework like shut the fuck up.
16:16
All right, make some countries have like a, I'm sorry.
16:19
So sorry. Some countries actually have
16:20
like a energy Surplus and they don't, you know, they don't know
16:24
what to do with it. So we need to like, you know,
16:26
you know extract that proof of work.
16:28
We're good to go. You know, used to David's point,
16:31
they literally waste it right because they can't do anything
16:33
with it. So you're absolutely right
16:35
honestly, David sounds like a right wing.
16:37
Alex Jones, conspiracy theorist to me person is the bit that
16:42
sounds like some of that weird Freedom shit.
16:45
Okay, here we can begin, my tinfoil Hat, real quick, hold
16:48
on. All these people touting about
16:51
Freedom. Okay, Point number three, okay?
16:53
So let's keep track here, right? Makes us irrelevant destroys the
16:57
environment And my transaction volume.
17:00
Okay. Point number three.
17:01
Here we go. The IMF explores, how to
17:03
regulate virtual assets. This is where it gets spicy.
17:07
Virtual assets. Pose, a significant threat to
17:09
the Integrity of the Global Financial system, money
17:12
laundering terrorist financing. And this is the best part.
17:16
I haven't heard this one yet and the financing of the
17:19
proliferation of weapons of mass destruction.
17:22
That's right. People we are involved with
17:25
wmds. Yeah.
17:28
I never thought that we would have a flashback like this.
17:31
We're flashing back to shit that happen before Bitcoin was even
17:34
born and like boom we're responsible for that we're going
17:37
to like somehow Bitcoins being used for this and and yeah,
17:41
exactly. It's a Nails, it right here.
17:43
Is there any evidence of the direct connection between
17:46
virtual assets and the weapons of mass destruction?
17:48
Dude, remember the New York Times, the New York Times?
17:51
The New York Times article said the same thing.
17:53
Apparently Bitcoin helps the North, Koreans, build Dukes.
17:56
Like dude, it is dog. Shit.
17:59
Anyways, I'm just glad that the dollar never, you know, this
18:02
never happens with the dollar for sure.
18:04
Ha ha ha ha. Oh man.
18:08
So this is, I mean, you can see right as we go through this, it
18:10
just gets cringy, ER, and cringy.
18:12
Er, okay, so here we go. Article number four.
18:15
Okay, so part two of the plans to regulate these virtual assets
18:21
is the is essentially, they're advising virtual asset service
18:25
providers or vasts to use, and we know One very well.
18:29
We've been screaming about this for a while, digital IDs, and to
18:32
acquire biometric data of their customers to prevent crimes now.
18:37
We had Ron Paul, dr. Ron Paul on the show, we've
18:40
already shown that they spend billions of dollars and it stops
18:44
0.01 percent of the crime. Okay, we've already shown how
18:51
their rails are used. for the majority of The banking crime.
18:57
So again this is complete nonsense, complete bullshit.
19:00
And of course, who do they cite? They support the fat.
19:03
Fuck guidelines, right? This unelected body that just
19:07
came in and decided, guess what, even though we're a bunch of
19:11
scammers, we're going to make sure that you can't scam outside
19:14
of us. We want to be the only scammers
19:16
anyways, all right? So we've already, you know, we
19:19
destroyed that one a long time ago.
19:21
There's a great little chart though.
19:23
Great little chart, actually two charts.
19:25
Okay that just Goes to show you the illicit share of all the
19:29
current of the illicit share of all crypto currency transaction
19:32
volumes. And you can see here by 2021 can
19:35
down to nothing. I mean, these people are
19:37
screaming about nothing and then this was just a great little
19:39
chart, I don't know where he got it from, but look at, you can
19:42
see right here. This is from dr.
19:45
Ron Paul of the so it is ml dot-org.
19:47
Yeah. Oh duh, it says right there in
19:50
the bottom at what Ron. Paul.
19:52
So look. You could see right here crimes.
19:53
You know, this is what the this is what AM l.
19:55
Actually stops right 0.05%. Look at the risk. 5.3 percent
20:01
times the risk of a bank being penalized more than the
20:04
criminals, right? The cost because it's not about
20:09
controlled, it's not about stopping crime in whatever it's
20:14
literally about population control, its Central planning
20:17
and this is what Fiat money has enabled.
20:20
And those Schmucks that you saw in the beginning we did it
20:24
intend to Do it like we just printed a lot of money.
20:28
If you look at history, always ends the same way.
20:32
What about the millions of, what about that story that I've read
20:35
of that individual? That literally could not buy a
20:38
house because of their decisions and Bitcoin that doesn't happen.
20:43
There is nobody to print more. There's going to be a certain
20:46
amount of Bitcoin mind every four years.
20:48
That's how it works. The humans are out of the
20:51
fucking equation. There's no middle man.
20:53
There's no person to approve your trance.
20:56
Disapprove, it's literally peer-to-peer and the monetary
20:59
policy set in stone. That's why, they're freaking the
21:03
fuck out because they know they're obsolete.
21:06
Okay, this is where it gets weird Nico.
21:08
You'll tell me if you've heard of this term before I have not,
21:11
okay, I have not heard of this. This is point number.
21:14
This is article number six in this IMF report.
21:16
I came across a new term crypto ization, which refers to the
21:20
risk of currency substitution occurring in Emerging Markets.
21:26
Now, you got to read between the lines, cryptocurrencies can
21:30
disrupt the control that they're attempting to take that.
21:34
They're attempting to put on these markets on these Emerging
21:38
Markets, so this poses again a threat to their control, that's
21:44
the problem with this. I heard I have heard of that
21:47
term and that's exactly what's happening in Nigeria.
21:50
The younger generation idea in Nigeria, Nigeria has a huge
21:53
portion of the population that he's using.
21:55
Bitcoin and shit coins, it's a 28 percent and the Nigerian
21:59
government, right? It has done has tried to do
22:02
everything in their power to stop it.
22:05
They released their own, the naira, the eating area, which is
22:08
the Central Bank, digital currency version of the Nigerian
22:11
currency and dude, not successful.
22:14
People are just choosing not to use it, why?
22:17
It has more Hoops to look at El Salvador, 40 Years of
22:23
traditional banking a month. I think it was a month.
22:25
They're two months of Bitcoin, becoming legal tender and more
22:28
people have Bitcoin wallets and they have bank accounts.
22:31
Hmm, their system is a system of exclusion by Design.
22:35
They thought they had the regulatory moat so high that no
22:39
one was ever going to, you know, challenge their power.
22:42
But here comes the honey badger, it's decentralized.
22:45
There is no head to chop off. There is no one to regulate to
22:48
death. It's the people's money and they
22:51
don't know what to do, okay? So look, why don't they like
22:55
this? Krypto is ation.
22:57
They don't like the crypto is ation because it wheat.
23:00
This is this is fantastic, it weakens Central Bank credibility
23:03
highlights unsound, Central Bank policy and makes it harder to
23:08
implement that policy. I mean look you couldn't get
23:11
more signal out of this stuff. They actually are telling the
23:14
truth in these articles and they're explaining that all of
23:19
these Technologies undermines their Authority and their
23:22
ability to control and manipulate these Markets in the
23:27
for themselves and their entities.
23:30
All right, number seven, the IMF would prefer people not have an
23:35
exit at all which is why they're so excited about CBD sees, right
23:40
Nico. This is an interesting angle of
23:42
it. This paper is an overview of six
23:44
of the most advanced CBD. See projects.
23:47
One of the most eyebrow raising parts of the paper is when the
23:49
IMF explores, how cbc's could be used to remove the problem of
23:54
anonymity in cash, which We actually covered when we covered
23:58
that, IMF electronic standard paper how they were trying to
24:01
essentially figure out. Okay?
24:03
Not not entirety. The n' anonymity of cash, but
24:06
figuring out how to devalue cash, in the same way that they
24:10
could devalue or control your electronic currency.
24:14
Anyways, some features of cash including anonymity, make it
24:18
attractive for Alyssa transactions.
24:20
CBC could potentially reduce this problem.
24:23
Yes, it can. Yes, it can, it can Stop you
24:26
from doing all kinds of stuff at some point.
24:28
It can even stop you from feeding your family.
24:30
If the state decides that what you're doing is illicit right
24:33
now. What you're doing may not be
24:34
elicit but in the near future it may become illicit like
24:38
happening is that bro and happened in Canada, right?
24:41
They froze. Bank accounts after they
24:44
announce what they were doing. Was illegal.
24:46
Absolutely insane. So, when they were doing, when
24:49
people were donating to the trucker's, it wasn't illegal, It
24:53
became illegal after the fact that, they still had their bank
24:56
accounts. Frozen.
24:57
And you want to drink a lot, right?
24:59
Yeah, dude. But they created the law after
25:02
people were donating like it's like it dude.
25:05
It's insane. It's insane.
25:07
It's fucking bullshit. Hmm, it absolutely is.
25:10
Now check this out right here. That.
25:12
So here we dive into a little bit more.
25:14
OK. These are the remarks from an,
25:15
IMF employee, on how the CBD, see design choices can overcome
25:21
the inherent risks. Okay?
25:22
So, Take a look at this. This is actually pretty nasty
25:25
stuff and stuff that we've already said, but it's important
25:28
to cover. In most cases the risk to CDC
25:31
can be restrained through it. Appropriate design, CBC Holdings
25:35
could offer a lower rate of interest.
25:36
They provide any interest at, all right.
25:39
So, immediately there telling you, this shit ain't gonna
25:42
holding this thing, and I'm gonna make you any money.
25:43
If anything, you're going to be losing money, or Holdings, could
25:46
be capped with surplus funds. This is my favorite part with
25:50
surplus funds being swept into bank accounts.
25:53
Every night. So if you decide to keep that
25:56
CBD see live on a wallet, all of a sudden it could be swept into
26:00
an account without your choosing not.
26:03
Fantastic, it just swept away. You know, that way, we always
26:05
keep the money supply in check transaction limits could be
26:08
imposed helping reduce the risk of the disintermediation of
26:12
banks. Yes, of course, the CBD.
26:14
See they found a problem with the banks that they can solve.
26:17
So this is a good spin on the narrative, right to ensure that
26:20
people view this as look. They're looking out for the
26:22
little guy here. Right to do.
26:24
Looking out for little me, they're making sure the bank
26:26
stay in check. It's got nothing to fucking do
26:28
with disintermediating, the banks or what the banks are
26:30
doing nothing at all. Anyways CBD.
26:32
See could also be distributed through existing financial
26:34
institutions using, the customer onboarding process that are
26:37
already in place. We're talking about KY caml.
26:39
In addition countries, who central banks issue, CBC could
26:42
restrain currency substitution by limiting, the Holdings by
26:46
non-citizens. So, you remember what we were,
26:49
what we were talking about where there was countries If I'm not
26:53
mistaken, it was turkey. And the Lira were, they didn't
26:56
want people, they were discouraging people from holding
27:00
other currencies than the Lira so they like the CBD.
27:03
See because it can help limit this terrible behavior of
27:07
getting out of the money system and, you know, being able to
27:10
fend for yourself and feed your family without having to
27:14
struggle as hard possibly, you know, because you're you're one
27:17
of those crazy Freedom oriented people that decides they want to
27:20
save, you know, we can't really have that.
27:24
All right, number nine, this one.
27:27
This paper argues for a transition to electronic money
27:31
to enforce negative interest rates, which is what we covered
27:34
in the IMF, LL electronic money standard.
27:39
They stress that a design requirement of CBD sees is, they
27:42
must be interest-bearing to allow for the implementation of
27:46
negative interest rates. That's right.
27:49
All of this is control. Keeping us in check and making
27:54
sure that none of us. Once you're stuck in this system
27:57
that none of us could ever amass enough funds.
28:01
To possibly create something or to possibly build something that
28:04
could end up outside of their control.
28:07
This is a, this is sick. This is like sick and twisted,
28:10
okay? And all of these social attacks,
28:14
this is all meant to keep everybody separate, right?
28:16
So an individual can't amass enough funds to do something and
28:19
you keep everybody separated through all of these social and
28:23
ESG arguments in all of this bullshit.
28:25
Okay. Anyways, lastly here, this
28:28
interview in the IMs Flagship magazine proves the MF is well,
28:32
aware of the real risks posed by cbc's?
28:35
But is continuing with its plans anyway.
28:38
Author, S War Prasad candidly explain to an IMF employee.
28:41
The dangers that exist with see bdcs.
28:45
You could see an authoritarian government, using a digital
28:48
version of its central bank money essentially to surveil its
28:50
population. And even a benevolent government
28:53
might decide that it wants to make sure that the money, it's
28:56
Central Bank issues, not only is not used for illicit purposes
29:01
but is Not used for purposes, it might regard as not necessarily
29:04
socially beneficial. You might well, start seeing
29:08
money being used as an instrument, not just of Economic
29:12
Policy, but potentially even social policy.
29:15
And this is acting saying that's exactly what they want.
29:18
And this is exactly what ESG is, Right?
29:21
Environmental social governance, right?
29:24
Connect the dots, guys. It all has to do with each
29:28
other, dude. And this is what I mean, all the
29:31
I'm when I beat the drum, a thousand times in the future,
29:35
you're going to have to pick between two options.
29:38
Central Bank, digital currencies and Bitcoin.
29:41
Those are the only two options in your future right now.
29:44
It might seem a little bit off you skated but you're either
29:47
going to have to pick Freedom or convenience slavery.
29:50
Look at that. They don't even fucking care.
29:53
That they printed too much money and impoverished.
29:55
Millions upon Millions, upon Millions upon people around the
29:58
world. Well, at least we know they had
30:01
Good intentions, right? Hold on.
30:04
So, we're going to finish it off with this, with this clip once
30:07
again, right foot with the, the director of, of the IMF
30:12
kristalina. Georgieva, who was, who was
30:14
instructed at the wonderful, Marxist School of robbing us of
30:18
our value. And we're going to finish it off
30:20
with this clip. All right, so here we go.
30:21
Those who know, me know, I care very deeply about the
30:24
environment. One of these days with Bitcoin
30:26
is mining, Bitcoin is very energy intensive.
30:32
So we are here Out of the World Wrestling with a risk that
30:38
climate change presents and the Bahamas can talk a lot about
30:42
what this risk actually means for the world being in P of
30:45
people. How could we justify?
30:49
Highly energy intensive mining of something for which there are
30:55
much better stable and reliable substitutes.
31:00
And what are these risks private?
31:03
Digital money can try to do wrong things.
31:09
Support crime or terrorism. They can avoid taxation in a way
31:15
that affects the public purse, the project production of some
31:21
of them like to get Bitcoin, Miss energy being used in
31:26
massive amounts. Yes, yes.
31:29
It's a good thing that the money that you work for Actually cost
31:35
energy to make think about it. You work people work in the
31:41
United States. They are slave away.
31:44
And there's some guy in d.c. that presses a button and then
31:47
he can make unlimited amount of that money.
31:50
You cannot do that with Bitcoin. So what they see as a bug, but
31:55
this energy usage is a feature and it's what it keeps its what
32:00
it's what keeps Bitcoin. To boil it.
32:04
What it's what keeps Bitcoin immutable without that energy
32:09
usage, these psychotic Central planners right would come in
32:14
there and say hey you know what, maybe 25 million Bitcoin is,
32:17
okay? Maybe 30 million Bitcoin is.
32:20
Okay, these people are freaking evil, they're insane.
32:26
Opt-out take your sovereignty back, I promise you.
32:30
If you do that, you'd sit self custody and Bitcoin.
32:32
You keep your well. Wealth in Bitcoin, I promise
32:35
you, you will feel better, you will feel good, you will feel
32:38
like you actually have control over your life, which these
32:42
people have fucking robbed, you of and your parents.
32:46
And we finally have an opportunity with the genius of
32:49
Satoshi Nakamoto to break free from that fucking slavery.
32:57
There's a convicted felon that sits on the board of directors
33:00
of the IMF and they're talking to us about, and they're talking
33:03
to us about illicit activities worse than that.
33:06
Christine Lagarde, is a convicted felon and she's the
33:09
head of the European Central Bank.
33:11
Oh yeah, sorry she's the head of the interview that make sense of
33:14
the IMF. Anyways.
33:16
Chris you have any thoughts on that whole fucking diary?
33:19
Oh, so he's here because your name is Chris Davidson.
33:22
I'm like I see it. Yeah, David.
33:26
You can get confused David its audience.
33:28
Not what are you doing? What are your thoughts on this?
33:30
I think that the energy usage of her.
33:32
Pearl necklace is wasted and I think it's unfair.
33:35
I think we need to govern that. You know what date?
33:39
David makes a good point, right? What about the waste?
33:41
That was caused in the ocean to get that Pearl out.
33:46
What about what about? What about the waste?
33:49
That the US military, you know, all their emissions.
33:52
I think they're like one of the biggest emitters in the world
33:54
right to ensure. Sure, the supremacy, the
33:57
hegemony of the u.s. dollar. What about that?
33:59
That's conveniently left out. These people are so hypocritical
34:03
but because of the internet, we have an opportunity to rebuked
34:08
them. That's why they want to censor
34:10
us so hard. That's why they took away the
34:12
YouTube dislike button. That's why Twitter is freaking
34:16
the F out that Elon Musk might potentially take them over.
34:20
They need to control the information because everyone
34:25
knows they're Fucking bullshitting.
34:27
Everyone knows. Anyways, Phil, it's time for the
34:32
Daily Mirror of you brought to you, by Citadel 21, they make
34:36
the best Bitcoin cultural scene. It's stories articles Comics by
34:40
actual bitcoiners. Every volume has different
34:43
artwork by a Bitcoin. In their scarce, there's only
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1000 copies made per volume. This is volume 10 and this is
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volume 11. It just drops.
34:52
Get your physical copy of Citadel 21 today before.
34:56
They run out. So this is an Insider meme, if
34:58
you get it you get it. If you don't I'll explain it at
35:01
the end. When you see a guy at the store,
35:03
buying the electric fluid thick extension cords, a fish tank
35:08
jbox has a satellite dish Cat6 and some self-assembly racks
35:14
don't buy everything in one place.
35:16
Different items, different stores, attracts less attention.
35:19
Of course, it's referencing to mining equipment, but it's kind
35:24
of Insider asshai. Give Give that Meme deserves a
35:28
lot more credit, but I think a lot of people just don't
35:30
understand it anyway. So no.
35:32
Next one is by Maria mess. Meet girls meet meet mean
35:37
Psychopaths getting looser. We're buying where Bitcoin very
35:41
good. Pretty clever mean, moving on to
35:43
the next one. Bye.
35:44
Unchain Capital. Always back up your keys seed,
35:47
oils. Seed phrases.
35:50
There you go. There you go.
35:51
I don't quite get it though. All right, back on the seed,
35:55
oils. Which Don't get me wrong,
35:56
they're not wrong right seed. Oils are shit, but it's funny
35:58
like everyone's freaking out about them now and this is, you
36:01
know, the famous George w--, Bush picture, where he looks
36:04
across and they tell him that the Twin Towers were attacked
36:07
Zoo. Bees face, replaced it.
36:09
So it sir they found out you were promoting.
36:12
You were charging to promotion coins.
36:14
Ha ha ha. All right oh man, this guy looks
36:19
like he's having a bad day that feeling when you realize the
36:22
implications of Bitcoin Game Theory.
36:24
It's true. I made that face too.
36:26
Dude, when you start to realize how much they scam you and Rob
36:30
you from your bullshit, that is literally the exact face that
36:33
you make. You're like holy, holy crap.
36:36
Anyways, this isn't really a mean, but it's a very powerful
36:39
picture and this article came out in August. 22nd, 2019 is
36:46
inflation dead. You know, who was right about
36:49
this, the people that they're trying to censor the
36:52
intellectual dark web and there we knew for a very Simple
36:56
reason, right? And if you look at history, it
36:59
always happens when you print a lot of money, right?
37:04
You flood the market with more Supply.
37:07
Right is less than man, right? This is a bunch of supply and
37:12
what does that cause causes inflation?
37:15
So that fucking rocket scientist but all the Legacy corporate
37:19
media and including Bloomberg. And I whatever they're telling
37:21
you modern monetary Theory our economies is my dad also Said
37:26
this to our economies are so efficient.
37:29
That inflation is a thing of the past.
37:31
You guys were fucking wrong and it can't be that two morons on
37:38
YouTube to talk about Bitcoin all day.
37:40
We're more accurate than you guys.
37:42
So you're either being insincere lying to people like Georgina,
37:47
whatever in that video or you sniff your own farts.
37:50
It's one or the other. I don't know what it is.
37:53
Anyways, for those awesome memes, I'm Going to give it.
37:57
You know what? I'm gonna give it this
37:59
represent. Hoodie just came out, has the
38:02
grenade. Shout out to David.
38:04
Check out the grenade in the back, right?
38:06
You got ya Bitcoin art sculpture grenades and you got grenade,
38:11
represent clothing and they also did a bit coin drop recently.
38:14
Anyways, Phil would you give those memes?
38:17
I just want to point out, I got my my represent Bitcoin clothing
38:20
yesterday, I'm going to start showcasing it on the next
38:23
episode, dude, I already tried it on.
38:25
Awesome. It's not just saying that
38:26
because you're a sponsor. You actually I bought some
38:28
threads. Well no.
38:29
Actually we could tell we can tell that story we get actually
38:32
tell that story so. Oh yeah when David for initially
38:35
reached out to us, right we're very very picky with their
38:38
sponsors because again you know you get associated with the
38:41
wrong Bitcoin company, whatever. You know you think about it.
38:45
People trust you, right? And you're promoting potentially
38:48
a garbage product. So when David was kind enough
38:52
to, you know, send us some free samples at first, right?
38:55
We were we Didn't know what to expect.
38:57
And then it was only after we tried on the clothing, that was
39:00
like Phil. This is actually pretty awesome.
39:02
We should reach out to him again.
39:04
So, that's the backstory of that.
39:06
I think that's the first time David here is about it.
39:08
But anyways, field, did you get your score first?
39:11
I did, I did not. I did not give the score yet,
39:14
and they've it is next. All right.
39:15
So I am giving this, the very famous.
39:18
Fuck Fiat sticker. Very good score, very good
39:22
score, very famous, David, what would you give those me?
39:27
I'm going to give it a mushroom. Okay?
39:34
Very interesting. Great nose means down the rabbit
39:36
hole. They're good.
39:37
Ha ha ha. Yeah, man.
39:39
Those are those, those are some good memes.
39:41
Shout out to the plebs. If you have it, you guys should
39:44
definitely join our telegram group and you should link us
39:47
some dank dank dank Bitcoin memes to review because the
39:50
Bitcoin review, we need memes to review.
39:52
So join our telegram group dirt right now.
39:54
Of course, make sure to subscribe.
39:55
To us an alternative video platforms like Rumble.com in our
39:58
personal favorite Bitcoin tv.com, they don't sense there
40:01
because it is Bitcoin TV and of course, make sure to comment and
40:07
let us know if you enjoyed this course.
40:09
Anyways feel it's time for the Daily News brought to you by
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All right guys, Phil did a very long extensive fail so I'm going
40:42
to try to just run through this very quickly.
40:45
You know, this is a this is an announcement by wit.
40:48
Give glory of God. Not so good with gives of this.
40:51
He's the CEO of compass Mining and we were we were correct in
40:55
our Russian when the US Treasury placed those sanctions on
40:59
Russian Bitcoin, miners that it would affect Compass.
41:03
Mining's operation over there the response, dude, it's
41:09
unfortunate. And another thing that I really
41:11
don't appreciate as well is that they haven't even mentioned this
41:14
on their Twitter. Like you could only hear about
41:17
this on, there's cords cords which someone had to take a
41:21
screenshot of anyways. Anyways, So, I mean, I
41:27
appreciate wit for responding to me so fast.
41:31
So we were, actually, I think Phil, we were the first to break
41:33
that news really. Anyways, due to recent sanctions
41:37
by the US, by the US. Compass mining is required to
41:39
immediately cease all dealings with bit River.
41:42
Our Russian hosting partner notice, we will be sent to
41:45
notices, will be sent to bit River today to terminate, all
41:48
hosting contracts effective immediately machines will be
41:50
turned off, and they will not be turned back on.
41:53
At this time, it is not possible to export, Any any of the
41:56
machines from Russia? Now, let me tell you guys
41:58
something. I run a hosting company.
42:02
Those machines will be turned off to their clients but they
42:06
will be turned on to the Russian miners who have possession of
42:10
those machines. Why wouldn't they do that?
42:13
That's exactly what they're going to do.
42:16
Rather than take a loss compasses making all commercial
42:19
efforts to liquidate the hardware for our customers and
42:21
return to them. Whatever funds we can obtain for
42:24
the sale of the machines. Again, The Leverage is all in
42:27
the hands of the Russian miners. Why should we sell these?
42:31
Okay, you want to buy them I mean you you want us to buy
42:35
them. Okay.
42:35
We you know you don't have another option, will sell them
42:39
to Dirt Cheap, do you don't have another option.
42:42
Goes on to say we cannot guarantee that the machines will
42:44
sell. That is not a good sign but we
42:47
are doing our base best to make it happen.
42:49
Customers will receive a formal notice of contract cancellation
42:52
and be prompt to authorize two compasses.
42:55
Sell their Hardware on behalf another sketchy part.
42:58
Unfortunately upon receipt of this node is customers will have
43:01
48 hours to notify. Customers got me to notify
43:05
compass that. These missions that these
43:07
machines can be sold. If a customer fails to provide
43:10
authorization in that window, the responsibility will fall to
43:13
the customer to follow up directly.
43:15
What the facilities in Russia? To find a solution to find a
43:19
solution for the machine. This is a giant cluster, fuck,
43:25
it's not compasses, mining's fault.
43:28
The end of the day. It's governments and Fiat that
43:31
enable this type of sanctioning and all this bullshit.
43:36
There's a really good saying in Bitcoin.
43:37
Not your keys, not your Bitcoin, not your minor.
43:41
I mean yeah your mind is not in your possession.
43:45
That's not your Diner, right? So this is one of the downsides
43:48
of hosting and dude, honestly like they don't really have any
43:53
other option because if not, they would be breaking us
43:56
sanctions law, right? Which is why their phrasing it
43:59
this way? I really doubt.
44:01
People will get any type of money back how they're going to
44:04
send money from Russia to the United States under the current
44:08
situation. So this is man, this sucks and
44:13
they obviously don't want to tell them anything.
44:15
People about it. Because you scroll through
44:17
compasses Twitter, there's no mention just mentions of spaces
44:21
that are having and all that, you know, that took effect last
44:25
night, right? The the, the sanction of the
44:28
shutdown supposedly it was on, it was really on Tuesday.
44:31
And I guarantee you that all those miners.
44:34
Now that those rut that now that the Russians know that, hey, you
44:37
know, there's no recourse there. I bet you.
44:39
Those are those are mining for the Russians right now.
44:42
I know I could say that almost 100% like 99%.
44:45
Sure. That's what that that's what's
44:46
happening. So yeah, one of the friends of
44:48
the, in a spaces name is cat. He he was looking at the Peta
44:52
has drop and I guess there was like a 40 pet a strop when they,
44:56
they approved the sanction or whatever it is or they turn them
44:58
off but he said that it like a couple hours later, it popped
45:01
right back in then he was like monitoring it.
45:03
Do. So you're right dude, you're
45:05
think about it. You're in Russia, right?
45:09
There's no recourse for these people, right?
45:11
You have these machines that literally print you Bitcoin?
45:15
What are you going to do? You're going to leave them
45:17
there. Collecting dust.
45:19
You're going to bring that bad boy on walls.
45:20
You're going to point them to your own pools and trust me,
45:23
like I run a hosting business, like, this is very common, this
45:26
is extremely common and you would, you would never know,
45:29
that's the thing. Anyways, let's keep it rolling.
45:33
Phil, this is this is the thing that I actually wanted to talk
45:37
about today. This was the big news, again,
45:40
connect this with what filled just went through.
45:43
So, well, in terms of the IMF and their views and you're going
45:48
to hear the same thing, an attack on proof of work and the
45:51
recommendation for proof of stake.
45:55
So but this time it was members of the US House of
45:58
Representatives, right? And just to read all of them or
46:02
some of them. Brad Sherman was on board AOC
46:05
right Kathy Caster. Dina Titus Murray Newman will
46:09
put the list down below. All these people are enemies of
46:11
humanity, their enemies of Bitcoin, they what they're
46:15
really In for is control. Okay, this is not for the
46:18
environmental reasons, we've debunked it many times.
46:20
But anyways let me read some of the letter.
46:23
We right to request that the EPA ensure cryptocurrency.
46:26
Mining facilities are not violating foundational
46:29
environmental statues like the clear Air Act and the Clean
46:33
Water Act. We have serious concerns
46:35
regarding reports that cryptocurrency facilities across
46:38
the country are polluting communities and are having an
46:41
outsized contribution to Greenhouse greenhouse gas
46:44
emissions as Currency gains popularity is essential to
46:47
understand, the environmental, risks and pollution associated.
46:50
With this industry. Bitcoin mining is significantly
46:53
greener than any other industry. Anyways.
46:56
Moving on, of particular concern is the inherently energy of
47:00
inefficient proof-of-work. Mining technology to Valley
47:03
transactions proof of work based crypto currencies like Bitcoin
47:06
etherium Manera en Z cash, here it is again using that bullshit
47:11
fucking study a single Bitcoin transaction could power the
47:15
average u.s. household for a month according to estimates by
47:18
researchers. They love using it even though
47:20
it's been debunked. Bitcoin produces annually carbon
47:24
emissions comparable to Greece, less intensive, cryptocurrency.
47:29
Mining Technologies. Such as proof of stake are
47:32
available and have 99 percent, lower energy, demands and proof
47:37
of work to Valley Gorge Rascal that is right, ladies and
47:40
gentlemen, You have collusion between the IMF political
47:47
parties, not only in the United States but also in Europe.
47:51
This is a combined attack on bitcoin and if you still, don't
47:56
believe me, check out this tweet.
47:58
Original thought from yesterday, have you noticed that every
48:00
single new political attack on Bitcoins?
48:02
Proof-of-work, always mentions that proof of stake is a better
48:05
solution. This is without a doubt.
48:08
A coordinated worldwide effort to stop proof of work because
48:10
it's the only thing they cannot control.
48:14
And guess what? I brought the receipts.
48:16
This is every single time. This is the recent announcement.
48:20
This is the cleaning Crypt cleaning up cryptocurrency
48:22
hearing this is the EU attempt to ban proof-of-work.
48:26
This is proposal to ban proof-of-work mining in the New
48:28
York State. This is the world economic Forum
48:32
basically touting out exactly that debunked report and this is
48:35
the New York Times also touting that proof of work is back.
48:38
In proof of stake, is bad is good.
48:41
It's not a coincidence that all of these institutions are
48:46
telling you the same message, and Adam back was, so kind.
48:51
Right to answer this individual, he had some questions, right?
48:56
Adam said, proof of steak does not end.
48:58
This is essentially a rebuttal to.
49:00
Why proof of stake doesn't work, and what better person to
49:03
describe it. Then add a back, right?
49:06
Proof of stake doesn't work and if it did it would be
49:09
undesirable in Dating the problems Bitcoin fixes, which is
49:13
what we've always said, someone replied to him and said, could
49:18
there be a proof of stake system where the steak only serves as a
49:21
symbol resistance mechanism but government's is done Alla
49:25
Bitcoin through consensus of low-cost nodes.
49:28
Bitcoin doesn't really have governance.
49:29
Governance means organized, the decisions by Committees of
49:32
people. Phil just played you a video of
49:36
a committee of fucking morons that they're stupid decisions.
49:40
Even if with the with the best intentions are literally not
49:44
allowing entire generations to own homes, miners process
49:48
transactions and economic nodes and Forge consensus rules.
49:51
Otherwise their blocks are rejected and have no value
49:54
conversation continues, but could it this also be achieved
49:57
with proof of stake? It's known as the of the nothing
50:01
at stake, problem, proof of stake.
50:03
Then degrades into a messy proof of work.
50:06
We're minors, Brew face, Brute Force, permutations of coin,
50:09
ownership to front. Ownership history to find the
50:12
ones where they win the reward. Then that's patched up with
50:16
various questionable, workarounds repair, its apps.
50:18
Basically think of someone joining the network late, how do
50:22
they know which chain is the right?
50:24
One, when there's no verifiable work, multiple fake histories
50:29
can be created at near zero cost to fool newcomers, mind, you all
50:35
these peace. All these institutions are
50:37
advocating for a technology that still has not Un-fucking
50:41
implemented. Anyways, moving on.
50:45
This is our first successful thing.
50:48
So, shout out to us. So I was so pissed off when I
50:51
saw this letter. Initially I wrote this from the
50:54
simply Bitcoin account. I said, the Relentless political
50:56
attack on proof of work, continues proof of work is what
50:59
keeps Bitcoin uncorrupted proof of proof of stake.
51:02
What they advocate, for allows them to control the monetary
51:04
policy, therefore the people Jared Huffman, which was the
51:07
original writer of this congressman and looks We were
51:11
right over the Target because he replied to us this week.
51:15
I was sanctioned by Russia and now I have been declared an
51:18
enemy of Bitcoin because he fucking are, bro.
51:21
I'm starting to worry. They might Blacklist me from The
51:24
Alex Jones Show. Personally, I take that as a
51:26
compliment, but if you want to know how bad, we're winning this
51:31
information War. Let's take a look at the amount
51:33
of likes that mr. Jarrod got 69, he's a
51:37
congressman, he has sixteen thousand followers.
51:41
Let's take it to Simply Bitcoin. Tweet suit out, 200 likes.
51:45
We got a chill 7,000 followers, but wait.
51:48
There's more, not only did we ratio him.
51:52
This guy got ratioed in the comments if I could find it.
51:55
All the sweeter hides hides it in the replies are buddy.
51:58
Adam, Denver Bitcoin from Upstream data, 295 likes,
52:03
completely re buting. Exactly.
52:06
The the statement that they're trying to convince people.
52:11
Of the Bitcoin Minds. We deploy actually mitigate CH4
52:15
missions which is a gas that is 60, 60 times happier than CO2.
52:20
A lot of Bitcoin miners are risking their capital in order
52:23
to mitigate emissions. But again, these people know
52:27
that they know this connect the dots with what Phil said about
52:32
the IMF, these are Central planners and Bitcoin stops them
52:37
from their ability to control people through monetary.
52:41
Three policy. It's not about the environment.
52:46
Bitcoin uses stranded energy, you pick one uses bent energy
52:49
that was already going to waste which is why it's so cheap.
52:52
The Bitcoin mining industry is more, it uses more renewable
52:56
energy than all in most Industries.
52:59
In fact, Bitcoin mining has figured out the Innovation
53:04
caused by Bitcoin. Mining has figured out how to
53:07
turn flared natural gas, that is vented into the atmosphere.
53:11
Remember what they said, the EPA it's polluting, the air.
53:15
Bitcoin has figured Out how to monetize that and to turn that
53:19
extra stranded like flared gas into Bitcoin of which
53:23
exxonmobil's already doing that huge Oil Company.
53:28
These people are straight-up gaslighting.
53:31
You they're bullshitting you. This means we're winning their
53:35
fucking terrified, they don't know how to make this thing go
53:38
away. So they're resorting to the
53:40
heavy hand of propaganda and government and they're hoping
53:46
Really hard that government will shut this thing down.
53:49
And it won't because you know what guys incentives are much,
53:54
much much more powerful than coercion, and that's why Bitcoin
53:58
wins at the end. Chris, what are you leasing?
54:02
At least in stanza, Ukraine. Ukraine, thing was fucking
54:11
hilarious. Dude, because it would, the
54:12
Ukraine thing was like, it was like, it was like, yeah.
54:16
We're accepting donations in Bitcoin and then lay it was like
54:19
today that dropped the Ukrainian government, we ban Bitcoin.
54:23
You can't buy Bitcoin anymore like dude.
54:25
Yeah, that works. Yeah, it's funny how that works,
54:27
right? And it's funny how the New York
54:29
Times was supporting that those donations in Bitcoin to Ukraine,
54:33
but if it's Russians know, they're bad like dude.
54:36
Thus these people, these Central planners are insane and our only
54:41
hope is Bitcoin. Phil.
54:43
Yeah, I just wanted to touch on a couple of things here.
54:46
So look right. We've got Bitcoin.
54:49
Okay, and we have forget about Bitcoin.
54:53
Let's just talk about proof of work and proof of stake, right?
54:56
So proof of work actually incentivizes corporations
55:02
individuals to find solutions to the increasing amount of power
55:06
that Bitcoin requires. So they are actively adding two
55:11
solutions. Where is proof of stake.
55:13
They are simply I think they're not actually actively providing
55:19
any solutions to better the Earth like using flared gas and
55:22
reducing emissions. They're not doing any of that
55:24
shit. All they're saying is hey, we're
55:26
low, we're low energy and we don't impact the environment as
55:29
much. So what you're saying is that
55:31
you're not providing any solutions and you're just
55:33
dumping shit that eventually. We're going to be stuck dealing
55:37
with in the Enviro proof of stake.
55:39
The telling us of course this was the tiny but they don't care
55:42
because it's about power for them.
55:43
And proof of stake is a continuation.
55:45
Ian of the old system. It's literally that's why they
55:49
want it so bad. It gives them the ability to
55:52
Central plan. Phil, I just wanted to add that
55:55
it's corporations. That are touting for the most
55:58
part proof of work and it's governments.
56:01
And quote-unquote, regulating bodies that are touting proof of
56:05
stake. This should tell you everything
56:07
think about the last two years of your life.
56:09
For those of us that are you know, not zoom whirs or
56:12
Millennials and you can go back to you know the Wayback machine.
56:16
Think about how much less value we have and how much more
56:18
difficult it is that it was so look, it says everything.
56:23
It does, it does. And I'm going to end it with
56:26
this art this last passage, but it was again, it was a
56:30
continuation of the conversation and the person does have a
56:34
Ukraine flag in their things so that says a lot anyways.
56:39
Anyways, maybe it does maybe it doesn't, I remember watching it.
56:42
Maybe it doesn't, but I remember watching a video with you and
56:44
Gregg Maxwell. All in which you mentioned that
56:47
if the vulnerabilities of proof of stake were magically solved,
56:50
you might favor. Adding, it's a bit coin from
56:52
your comments, I take it that you don't believe ether.
56:55
Others are, are anywhere near solving these issues.
56:59
Adam replies. I think it's genius here.
57:01
I'm arguing that even if they were magically solved, the
57:04
result is undesirable. It recreates.
57:06
The problems like continuing effect, Rich get passively
57:10
richer people can buy influence one dollar, one vote.
57:16
Proof of work is the Innovation. And the reason that the
57:20
creatures from Davos the world economic Forum, all these
57:24
political parties are up in arms and they're attacking proof of
57:27
work and they're literally suggesting A system that does
57:31
not exist yet is because they're absolutely terrified of losing
57:36
control. Connect the dots.
57:38
Anyways, Phil there was an open source offer at least today or a
57:41
pledge site money to everybody about it.
57:42
Plebiscites brought to you by Safe.
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Check them out. Cipher safe dot IO guys.
57:50
I'm you know what? I'm in the middle of moving and
57:52
one of the freakiest things for me is where's my seed?
57:55
I cannot use paper, I need to make sure it's secure so I store
58:00
it in the Cipher wheel or you can store it in the all new
58:04
Cipher grid. They both come with a temper
58:06
assistant wire but the grid comes with a punch tool.
58:09
We've got a pep site today there is a fellow player.
58:13
We're going to put a link to his Twitter in the in The show
58:16
notes. It's a physical Bitcoin art.com,
58:19
he comes into the rooms, Frank is he shows his Bitcoin arts and
58:22
I said, all right man, why not? I'm like, let's get it on the
58:25
show. Let's take a look at this.
58:27
No. And you know what?
58:28
He's got some pretty cool Woodworks.
58:30
So if you're interested in this type of stuff, right?
58:32
And you think this is cool, like I'm a big fan of anything with
58:35
the Silk Road or the Genesis Block Chain.
58:38
Anyways, you can check it out, the link to his site physical
58:41
Bitcoin art.com, is going to be down below, check it and of
58:45
First, check us out, on our Audio.
58:48
Only platforms. Check us out, on Apple, podcasts
58:51
Spotify and anchor. If you want to stream of SATs,
58:55
we are on Fountain FM and you can stream them using Breeze.
58:59
Awesome, thank you for the. All right, guys, before we go, I
59:01
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I Am David X, guys, that was our show if you enjoyed the show,
59:39
you know what to do? Smash.
59:42
Of course, you want to continue here in the bitcoin news from
59:43
the police blood perspective. In the catastrophic fails from
59:46
these fucking goddamn Central planners.
59:49
Definitely consider subscribing to Simply Bitcoin and we'll see
59:52
you on the next one. Only governments and regulating
59:55
bodies are touting proof of stake Bitcoin.
59:57
In proof of work is the