Latest / Simply Bitcoin / Is This Your LAST Chance to Buy Bitcoin Before the GENERATIONAL Bull Run Begins? | EP 1320

Transcript

Is This Your LAST Chance to Buy Bitcoin Before the GENERATIONAL Bull Run Begins? | EP 1320 · Simply Bitcoin

• 0:00
  Everyone is wondering why is the price of Bitcoin not rallying?
• 0:04
  Aren't we supposed to be in a bull market?
• 0:06
  Everyone's confused right now because ETFs are buying billions
• 0:10
  and individual treasury companies are buying 60,000
• 0:14
  bitcoins in one raise and yet the Bitcoin price is going
• 0:18
  sideways. So let's dive into a lot of the
• 0:20
  recent news right now and then we'll come back and explain why
• 0:23
  we think you only have about 30-3 days left before the bull
• 0:28
  run takes off. Of course, I'm not here alone.
• 0:32
  We have Nico sitting here in the Co chair and we brought on our
• 0:36
  good friend Adam O'Brien, CEO, founder of Bitcoin.
• 0:40
  Well, you guys have been asking about Bitcoin one.
• 0:43
  Let's chat recently, So I brought on Adam today with us
• 0:46
  anyways, let's get into the news story.
• 0:47
  So I do want to start here with, of course, just an update on the
• 0:51
  ETF. For a while there, the ETF was
• 0:53
  all the rage. It was all the news going out
• 0:55
  now it's kind of old news. Everyone's kind of tired of
• 0:59
  this. This is where the paper Bitcoin
• 1:00
  summer meme has originated from is the ETF.
• 1:04
  And then of course the Bitcoin treasury companies as well has
• 1:07
  piled on to the memetics of Bitcoin summer paper Bitcoin
• 1:12
  summer. So looking at this, of course
• 1:14
  guys, you know, look at entities holding Bitcoin, 44 of them are
• 1:18
  ETFs and other funds. We have 177 public companies and
• 1:23
  then governments and private companies and exchanges.
• 1:25
  And of course the most important number here is individuals.
• 1:28
  But look at this total total number here guys of how much
• 1:33
  Bitcoin is being held by exchanges, private companies,
• 1:36
  government, public companies and of course ETFs.
• 1:39
  That's 3.68 million Bitcoin. It is continuously going up with
• 1:43
  ETF holding about, you know, one almost 1.5 million Bitcoin it
• 1:49
  they're scooping up so much coin right now it's absolutely
• 1:51
  insane. And then going into the data a
• 1:54
  little here, guys, there's a clear winner.
• 1:56
  And of course, you know, for better or worse, probably for us
• 1:59
  the the view is more that it's worse.
• 2:01
  I shares Bitcoin trust. The BlackRock Bitcoin ETF
• 2:06
  currently holds 3.56% of total Bitcoin.
• 2:10
  Again, I brought this number up the other day.
• 2:12
  Saylor and Larry Fink hold about 6 1/2% of the total Bitcoin that
• 2:17
  will ever be created, which is absolutely insane.
• 2:21
  I'm sure we will chat about this a little bit later 'cause I
• 2:25
  think there is some implications here.
• 2:26
  And then falling behind is Fidelity and Fidelity here is
• 2:30
  probably the ETF. If you are going to buy an ETFI
• 2:32
  would say you should probably be putting your money in the
• 2:35
  Fidelity 1, though maybe the iShares 1 is having a little
• 2:39
  better returns here. But they are almost at about 1%
• 2:42
  of the total Bitcoin that will ever be created.
• 2:45
  So that's just a general overview of the ETFs, but
• 2:48
  interesting news. I did touch on this yesterday of
• 2:51
  just how much buying is coming into the space and shouts out to
• 2:55
  David Bailey of Bitcoin Inc and the merger with kindly MDAKA
• 3:00
  Nakamoto, the Bitcoin treasury company.
• 3:02
  They just announced a $5 billion ATM or at the market equity
• 3:07
  offering program again, guys, $5 billion that is going to find
• 3:12
  its way to buy Bitcoin. Remember, sailor has been
• 3:15
  getting a lot of Flack. I actually saw another article
• 3:18
  this morning from Bloomberg essentially saying, you know, I
• 3:22
  I forget the headline exactly, but it was something like
• 3:25
  sailors in a lot of heat right now as or no, yeah, sailor is in
• 3:29
  a lot of heat as the market revolts against him or investors
• 3:33
  revolt against him while strategy starts, you know,
• 3:36
  slagging right now. So there's a lot of heat.
• 3:38
  And you guys know my tempo hat theory on this is Wall Street,
• 3:43
  the institution. They do not want to give sailor
• 3:45
  the credit that he deserves here.
• 3:47
  And and you guys have been trolling us calling us simply
• 3:49
  Sailor for a while. But hey, he's made some genius
• 3:53
  moves in the market right now. So it's not only just Sailor
• 3:57
  raising billions of dollars now to buy Bitcoin.
• 4:00
  Of course, Nakamoto just announced one.
• 4:01
  We have 21 capital. They're also doing the very same
• 4:04
  thing. So there is a lot of capital, a
• 4:07
  lot of Fiat coming into the market.
• 4:08
  Of course, a lot of this hasn't been deployed yet, but it is
• 4:13
  going to increase the floor here in the Bitcoin market and it is
• 4:17
  going to get a lot more interesting considering that we
• 4:20
  are turning into Q3Q4 of the year, which is historically the
• 4:27
  best returns in Bitcoin. And of course we have nation
• 4:29
  states now being exposed for holding Bitcoin.
• 4:32
  And then we have even more nation state proposals for
• 4:36
  creating Bitcoin strategic reserves.
• 4:38
  Thailand's ex Prime Minister just endorsed A strategic
• 4:41
  Bitcoin reserve for the long term resilience of Thailand's
• 4:44
  financial system. And then we also have South
• 4:47
  Korea's first institutional Bitcoin treasury launch by Bit
• 4:51
  Planet. It is, it is getting intense out
• 4:54
  there for the accumulation of Bitcoin.
• 4:56
  And I've been kind of showing these numbers here on the show
• 4:59
  for a while. And, and I've been, I was
• 5:01
  looking for this chart and I can't find it for some reason, I
• 5:03
  forget what the framing was, but institutions are eating retails
• 5:07
  lunch right now. Guys like institutions are
• 5:09
  scooping up Bitcoin and dwarfing what individuals are doing right
• 5:14
  now cuz a lot of individuals are selling coin right now.
• 5:16
  Again, we've been covering the amount of coins moving to the
• 5:20
  exchanges from OG, these from people that bought Bitcoin at
• 5:22
  like you know, under $10. It's been hundreds of thousands
• 5:26
  of coins. There's a lot of coin moving to
• 5:28
  the exchanges. But one more interesting little
• 5:30
  metric before I, you know, wrap up and bring you guys why I
• 5:35
  think we are going to start ripping.
• 5:37
  There was an interesting announcement coming out from JP
• 5:40
  Morgan, which I think will lead to this idea that we might be
• 5:44
  seeing some changes in the price structure of Bitcoin here.
• 5:48
  We might be in an elongated Bitcoin bull market.
• 5:52
  A lot of people have been saying I'm, I'm not one of them
• 5:54
  because, you know, I don't like saying this, but I do say it.
• 5:57
  We might be seeing a hyper bitcoinization moment, eternal
• 6:00
  September moment here where we don't get any bear market.
• 6:03
  So the headline here is Bitcoin is undervalued versus gold as
• 6:08
  volatility collapses. JP Morgan, says Jamie Dimon
• 6:13
  whether this is Jamie Dimon himself, but his analysts out
• 6:17
  here at JP Morgan and Chase are essentially saying what we've
• 6:20
  been saying on this show for a long time.
• 6:23
  Historically, Bitcoin critics now are becoming Bitcoin bulls.
• 6:27
  How how should this make us feel anyways, just to read the
• 6:30
  headline here. Bitcoin is trading too cheap
• 6:33
  relative to gold as its volatility falls to historic
• 6:36
  lows, says JP Morgan. In their recent research report
• 6:40
  that just dropped, the bank highlighted that Bitcoin's six
• 6:43
  months rolling volatility has dropped from nearly 60% at the
• 6:46
  start of the year to about 30% today, the lowest on record.
• 6:51
  And with volatility converging toward gold, the world's largest
• 6:55
  crypto Bitcoin now only twice as volatile, it's the lowest ratio
• 6:59
  on record. So guys, I don't, I don't know,
• 7:03
  I don't know what is going on here.
• 7:04
  I'm actually going to pass it over to Adam here.
• 7:07
  Look, Adam, you've been in the game a little longer than Nico
• 7:10
  and I have. What is going on here?
• 7:12
  Like should we be getting the the the heebie jeebies right
• 7:15
  now? Because everyone's embracing us
• 7:17
  like I've been, I've been buzzing the question like, are
• 7:20
  we being Co opted or is this what winning feels like?
• 7:23
  And we've just been perpetual underdogs for so long that when
• 7:26
  we start winning, we start feeling weird about it.
• 7:29
  But everyone seems to be embracing the idea of Bitcoin.
• 7:33
  So what's your take on all this stuff, Adam?
• 7:35
  Yeah, man, it's like we're Rocky Balboa trying to, you know,
• 7:38
  figure out what it's like to go into a fight, you know, as the
• 7:42
  as the favorite. You're reading those numbers.
• 7:46
  I was just overcome with this sense of how ridiculous the Fiat
• 7:50
  market is and just how fake all those numbers seem like, oh, we
• 7:55
  raised 5 billion. You know, we've got a few
• 7:58
  trillion going out over here. It's just like, it's just
• 8:01
  hilarious at how the world is still trying to figure out what
• 8:05
  the heck a sound money asset and a real hard money asset actually
• 8:10
  looks like because we've been living in this, you know, fake
• 8:14
  Fiat economy for, you know, the better part of three generations
• 8:17
  at this point. And it makes me very, very, I've
• 8:23
  got my Spidey senses up when all the people who were calling us
• 8:26
  drug dealers and criminals and bad people like even a couple
• 8:30
  years ago and, and even even today.
• 8:33
  And that's the problems that we're going to talk about on the
• 8:35
  with Bitcoin, well stem from Operation Choke Point, which is
• 8:38
  still alive and well, by the way.
• 8:39
  And they so out of one side of their mouth, they've got
• 8:41
  Operation Choke point going on. You know, you can't spend your
• 8:44
  money to buy Bitcoin, but they're going to spend all your
• 8:47
  money and buy some Bitcoin instead.
• 8:49
  And so it definitely feels like, I almost wonder if the overlords
• 8:55
  understand that they are about to lose control.
• 8:58
  And at first they fought it thinking, no, no, no, we want to
• 9:01
  keep control. And now they're like, OK, well,
• 9:03
  if we're going to lose control, we're going to manipulate the
• 9:06
  crap out of the market for as long as possible so we can
• 9:10
  accumulate as much of that control and maintain as much of
• 9:13
  that control as we possibly can. When I see that two people hold
• 9:17
  6% of the total supply of what will eventually be the world's
• 9:21
  entire economic value, that's pretty scary.
• 9:24
  That's pretty insane. That's a lot of power.
• 9:27
  That's that they're able to get. And I think I think we've said
• 9:30
  it on the show before. And if and if we haven't, then,
• 9:33
  you know, it's been said elsewhere like whoever prints
• 9:37
  the most Fiat to buy the most corn is going to win.
• 9:42
  And it seems like Sailor and the governments are figuring that
• 9:48
  out in real time. Yeah, that's the signal here.
• 9:51
  It's like, are they figuring this out?
• 9:53
  Do they see what we've been seeing or are they just here for
• 9:57
  the, you know, the games? But.
• 9:59
  It's like, yo, the guys with the bazooka figured out where the
• 10:02
  trigger is and they're going Pam.
• 10:06
  I mean, I've I've. Been saying it kind of in a
• 10:09
  joking way, but I really do mean it.
• 10:11
  Like the very people that are in control of the money here, the
• 10:14
  very people that Bitcoin was designed to kind of
• 10:17
  disintermediate, if they see what we see, then they probably
• 10:22
  need Bitcoin just as much as anyone else because they have a
• 10:25
  lot more to lose. And it seems like that is
• 10:27
  catching on right now. Which again, makes us feel a
• 10:31
  little weird here, 'cause like we have been the underdog for so
• 10:34
  long that now that they embrace us, we are like, man, are are we
• 10:38
  actually doing what we think we're doing?
• 10:40
  What? What is going on here?
• 10:42
  Stay humble, sack sats, baby. That's all you can do anyone,
• 10:45
  all anyone can do and get it into self custody.
• 10:48
  My goodness. If you're joining the honeypot
• 10:51
  of Coinbase, like, you know, I don't know why we've got
• 10:53
  different percentages on that sheet.
• 10:55
  It's all just sitting in Coinbase. 90% of that, you know,
• 10:58
  3% is just sitting with Brian Armstrong and the cronies.
• 11:01
  So like, get it out of there. Don't join the honeypot and at
• 11:05
  least decentralize your wealth a little bit because it's that's
• 11:08
  going to be a pretty heroic 61-O2 or whatever it ends up
• 11:11
  being. That's I think going to happen
• 11:13
  in the lifetime here. And, and, and Nico, I do want to
• 11:16
  pass it to you, but Adam, I know you're in Canada here, but I
• 11:21
  don't know if you've been hearing the stuff going on in
• 11:23
  the US about the US government potentially taking stakes in
• 11:28
  public companies now. It's like this was a far fetched
• 11:32
  idea for a while amongst bitcoiners.
• 11:34
  Now it's it seems to be on the horizon, so.
• 11:38
  You know, I tweeted, I like quoted that.
• 11:40
  I was like, oh, I wonder who could have seen that coming Like
• 11:44
  guys, it's the same thing 61-O2 was exactly.
• 11:47
  We will pay you for your gold in fair market value and then
• 11:50
  magically the next year the gold doubled like this is classic
• 11:54
  manipulation. Don't fall for it.
• 11:56
  Don't give up your generational wealth, just keep it in self
• 12:00
  custody, you know, buy a good hardware wallet, set up a duress
• 12:04
  pin like just it's, it's novel and it's it's simple, but not
• 12:10
  easy. And I think that bitcoiners, you
• 12:11
  know, we've kind of been training ourselves to take the
• 12:14
  hard path. We've been training ourselves to
• 12:16
  do the hard thing to be the underdog.
• 12:18
  And now it's moving from the like the Bitcoin is real
• 12:22
  underdog towards the like, my security is valid underdog.
• 12:26
  And you're going to have a bunch of grifters convince you to, you
• 12:29
  know, try try to like leave your Bitcoin with someone else and
• 12:33
  try to, you know, you know, not take self custody and to
• 12:36
  outsource the responsibility. But I think historically
• 12:39
  speaking, we've seen that movie too many times.
• 12:41
  And we can be smarter. We can be the generation that
• 12:44
  actually changes and flips the script.
• 12:47
  Well, let's hope so. Let's hope so.
• 12:48
  Anyways, Nika, what? What's your thoughts on all
• 12:50
  this? I actually, I already know what
• 12:52
  Nika's going to say. He's going to be a bear here.
• 12:53
  So, you know, maybe we ignore him.
• 12:57
  First of all, yeah, this year has been absolutely like gnarly
• 13:04
  in terms of news. Like me and Opti always have
• 13:07
  something to talk about. Like I remember we were like
• 13:09
  literally like losing our minds in January, Like Operation Choke
• 13:12
  .2 point O is over. That's not true.
• 13:16
  You know, the, the, the government's going to pump our
• 13:17
  bags to half $1,000,000. That's not true.
• 13:21
  Oh, we're going to get the Bitcoin Act 2 point O.
• 13:23
  It's going to be introduced. That hasn't happened yet, but we
• 13:26
  got the genius act. So yeah, I mean, like stay with
• 13:32
  quiz. So like, I mean like it it's
• 13:35
  it's kind of interesting. Like we've spent this entire
• 13:37
  year. If you look at Bitcoin
• 13:38
  historically, I've been saying this the last couple of weeks,
• 13:41
  the year after the having tends to be the parabola year, right?
• 13:44
  So it tends to be the year that it Bitcoin explodes to the moon.
• 13:47
  We still have Q4 left. This is why we literally put it
• 13:50
  on the thumbnail. You have 33 days of Bitcoin
• 13:53
  follows its historical patterns. You know, we will have an
• 13:56
  explosive end of the year, but if we don't, we're kind of in
• 14:00
  uncharted territory. And I want to kind of double
• 14:02
  back on a point that Adam was making because very astute,
• 14:05
  right? This idea that Larry Fink and
• 14:09
  Michael Saylor, if you, if you combine both their stacks,
• 14:13
  right, the BlackRock stack and the Michael Saylor stack makes
• 14:16
  up 6%. But Adam buried the lead
• 14:20
  Coinbase holds all of that Bitcoin.
• 14:22
  And not only that, all the ETFs hold the Coinbase hold the
• 14:26
  Bitcoin with Coinbase except for.
• 14:28
  Fidelity. Except for Fidelity, Fidelity is
• 14:30
  the only one that does it that that actually does the custody
• 14:33
  thing. But and I also heard a rumor
• 14:34
  that Brian Armstrong, the way that he actually deals with
• 14:38
  custody, he has a Ledger next to his night stand and he keeps all
• 14:41
  the Bitcoin there, right? So it's probably not a good
• 14:44
  idea. But if you look at the
• 14:45
  historical precedent from a like and I think Adam, you have that
• 14:48
  in your background. So I'm going to make that.
• 14:51
  Right there man. This is the 61-O2.
• 14:54
  So like this is the same steps that have happened, right?
• 14:57
  And like guys like, think about this for a second, right?
• 15:00
  Like if you're the US government, you heard you, you
• 15:03
  heard Scott Besson on, on TV the other day, right?
• 15:06
  And he kind of slipped up and then he walked it back once he
• 15:09
  got tapped on the shoulder by donors and all that stuff.
• 15:11
  But he said he's like, listen, like, you know, we're the United
• 15:15
  States, we're going to acquire Bitcoin.
• 15:17
  This confiscated Bitcoin is fantastic, right?
• 15:19
  It's, it's great. We're going to hold on to it.
• 15:22
  And, you know, maybe there's a bit of a Freudian slip there,
• 15:26
  but the part that I want to focus on is like, why does the
• 15:30
  US government have to buy the Bitcoin if Michael Saylor, Larry
• 15:34
  Fink is doing the buying on their behalf?
• 15:38
  And then when they find themselves in the pickle, when
• 15:40
  they like, you know, when they blow up the financial system
• 15:43
  because of the unsustainable fiscal trajectory, then you get
• 15:48
  the, you know, 61-O to order 2.0, right?
• 15:53
  So it's a lot easier to just not buy and then wait for the things
• 15:56
  to blow up and then, you know, then seize all the Bitcoin.
• 15:59
  So I think it's never been as important as it is today to take
• 16:04
  self custody of your Bitcoin, to learn to take that personal
• 16:07
  responsibility and the sovereignty that comes with it.
• 16:10
  And I, I completely agree with Adam when he makes the case that
• 16:14
  I think we're going to see this in our lifetime, because I think
• 16:16
  it's inevitable with all the countries that are just printing
• 16:20
  an ungodly amount of Fiat. If you look at the definition of
• 16:23
  what hyperinflation is, the only definition is there's a mass.
• 16:34
  People in mass lose confidence in the money.
• 16:36
  It's not how much money they print.
• 16:39
  It's a psychological thing. All of a sudden, overnight,
• 16:41
  people are just like, wait a second, this is worthless.
• 16:45
  And then all of a sudden all simultaneously, they all try to
• 16:48
  take their cash out of the bank and they all try to buy goods.
• 16:51
  They all try to buy like sound assets just to maintain their
• 16:54
  purchasing power. And with the amount of money
• 16:57
  that they're printing, like, are we going to see that in their in
• 17:00
  our lifetimes? And you know what, the first
• 17:02
  thing the government does when that type of event happens, they
• 17:06
  see sound money, right? They seize the gold.
• 17:08
  They seize, you know, there was a gold back then.
• 17:11
  Now it's Bitcoin, and the only reason that they were able to
• 17:14
  get away with that back in the 1930s is because of the
• 17:18
  centralization of the custody of gold, because gold is very
• 17:22
  heavy, it's physical characteristics.
• 17:24
  If you had a lot of gold, you probably put it in a bank.
• 17:27
  So the government literally only had to knock on the door of a
• 17:30
  handful of banks to say, hey, that gold belongs to me.
• 17:35
  Do you see the resemblance here? Right.
• 17:37
  Except it's not a handful of banks anymore.
• 17:39
  It's literally they just have to knock on the door of Brian
• 17:41
  Armstrong and say, hey, we want the Ledger in your night stand
• 17:45
  and the pen and we'll leave you alone.
• 17:46
  Thank you very much. Like, oh, and by the way, we're
• 17:49
  going to give you this nice paper money in return and you're
• 17:52
  not going to go to jail. Like, of course he's going to
• 17:55
  take that deal, right? It's a lot harder if you have
• 17:58
  this like kind of mass consciousness where people push
• 18:02
  back and they say, hey, you know what, it's a lot harder to
• 18:07
  convince 2 million people or 3 million people or 5 million
• 18:11
  people to give up their sound money in return for paper,
• 18:15
  right? Anyways, this is a special
• 18:17
  edition because we got the CEO and founder of Bitcoin well
• 18:21
  joining us on the show today. And I do want to highlight some
• 18:24
  comments that were were were dropped Opti, if you want to
• 18:29
  pull them up, please bore 5 water.
• 18:31
  Yeah, yeah. Adam wants to respond to Skip on
• 18:34
  down the road here. So let's start there.
• 18:36
  Oh yeah, yo Skip, OK, this is such a good take here.
• 18:38
  So what this highlights, I think is a systemic and a high time
• 18:44
  preference society. And so, you know, there's the
• 18:47
  straight seizure and then there's the there's going to be
• 18:49
  a period of time where bitcoiners are treated like the
• 18:52
  kings and Queens that we are. And I think that we need to be
• 18:56
  alert in what's going on there because if you'll remember, 100
• 19:00
  years ago, they paid more than what gold was worth.
• 19:03
  And I think that this comment wraps up the high time
• 19:06
  preference type of behavior that we have to be on the watch out
• 19:10
  for. You were going to get more than
• 19:12
  face value and so you could have spent that gold on other things
• 19:17
  or spend that paper on other things.
• 19:19
  And what I think is going to happen here and just kind of to
• 19:21
  round out the segment about like, you know, the confiscation
• 19:24
  or whatever's coming down the line, is that when, if and when
• 19:28
  the government comes to us and says, hey, Bitcoiners, you've
• 19:31
  been holding your corn for the next X, sell it back to us and
• 19:36
  we will not charge capital gains.
• 19:37
  Sell it back to us and we will not, you know, we'll give you a
• 19:41
  premium, sell it back to us, give it to us and we will, you
• 19:44
  know, treat you in this way for this short period of time.
• 19:47
  Every single human being on earth is worse off in 2025
• 19:51
  because they stole the gold in 19331933 led to 1971, nineteen
• 19:57
  71 led to 2001, 2001 led to 2008, 2008 led to 20 led to 2022
• 20:04
  and 2022 led to today. This has been one big giant
• 20:09
  playbook in the making. And if in 2025 or 2035 or
• 20:13
  whenever it happens, we fumble the ball and we take the high
• 20:16
  time preference Rd. for paper gains.
• 20:19
  We will be cooked in 2050. We will be cooked in 2075.
• 20:24
  And I really want to like ring that alarm bell that, you know,
• 20:27
  this feeling that we have of like, hey, they're on our team
• 20:30
  all of a sudden. Be weary and don't give up what
• 20:34
  you know is right, which is self custody and you need to continue
• 20:38
  to control your Bitcoin. Yeah.
• 20:41
  Also, can we acknowledge, can we acknowledge the fact that Adam
• 20:45
  speaking in Zoomer, finally we got him.
• 20:47
  We got him. Opti taught me how to speak in.
• 20:50
  Zoomer all. Right, I do I do want to, you
• 20:53
  know, give give the people what they're probably asking why, why
• 20:56
  is this 33 days? Nico did mention it earlier, but
• 21:00
  let's pull up the charts here and then we'll wrap this up.
• 21:02
  So here's Bitcoins monthly returns, kind of the seasonality
• 21:06
  of Bitcoin. Obviously here we were
• 21:09
  mentioning this few weeks ago, I think a week ago of how usually
• 21:14
  Q3Q4 are historically the most bullish times in Bitcoin.
• 21:17
  Well, August is kind of rounding out exactly as we probably
• 21:22
  imagined it. It's a red month, it's down 2%,
• 21:24
  not that bad realistically speaking.
• 21:26
  And then September is kind of a throw up.
• 21:29
  It will you know, put probably have a red September here, but
• 21:35
  it could potentially be a a bullish green month here.
• 21:39
  But then we really get in into the time when it's the funnest
• 21:42
  time in Bitcoin, which is of course October, AKA October and
• 21:47
  November and then December is when maybe things start to cool
• 21:50
  down here. So probably have maybe not so
• 21:54
  bully September here, which is, you know, the next 30 days and
• 21:57
  then going into October, we will start ripping.
• 22:01
  And actually, while I was looking for this, I saw trading
• 22:03
  view had a had this interesting chart here.
• 22:05
  And I think this lays it out very well.
• 22:08
  You know, we're right here. We're right here in the middle
• 22:10
  of September. You know, historically, it's
• 22:12
  kind of going to go sideways, maybe down a little bit and then
• 22:15
  October starts coming guys, and we are going to the moon.
• 22:19
  So I'm hoping that this plays out here.
• 22:21
  I, I hope that this is, you know, that what we're doing
• 22:25
  right now and then, of course, in past cycles, Bitcoin marked a
• 22:28
  major low in September and then rallied for two to three months
• 22:31
  in Q4. So this is where we think the
• 22:34
  price is probably going. I'm I'm, you know, I would lean
• 22:38
  into the idea that September is probably not going to be the
• 22:41
  best month here for returns guys, but this just means you
• 22:43
  get Bitcoin on discount. But you better believe that if
• 22:48
  you have field on the sideline, you need to get in touch with
• 22:51
  the infinite well team and get it in by October, because
• 22:55
  October is when things are going to get crazy in my opinion.
• 22:59
  And the end of the year, it should be a really, really, you
• 23:02
  know, green Christmas here we're we're going to be seeing green
• 23:05
  candles going into Christmas. I at least.
• 23:07
  That's what I hope here. I think I just heard Opti
• 23:09
  calling for like 500 K Bitcoin by white paper day is that is
• 23:12
  that? What I heard, I totally said
• 23:14
  that. Anyways, Adam, again, you've
• 23:19
  been here for a while, though our data points are very thin,
• 23:23
  you know, 4 cycles roughly. Of course, the past doesn't
• 23:28
  really repeat. We can't really hang our hat on
• 23:31
  what Bitcoin has done in the past considering things are
• 23:35
  changing. We are in seemingly a new
• 23:37
  paradigm here. But how much credence do you
• 23:40
  give to this seasonality of Bitcoin since you've seen a
• 23:43
  couple more seasons than I have? Yeah, man, this is probably the
• 23:49
  the first time where I'm questioning whether or not this
• 23:51
  kind of four year epoch cycle is going to be broken.
• 23:54
  I think that the time like this time next year, we're going to
• 23:57
  know it's going to be pretty apparent whether or not, you
• 24:00
  know, we continue to have these four year pretty predictable
• 24:03
  cycles or you know, as the halving gets less and less
• 24:07
  dramatic and as we have more and more stable demand.
• 24:11
  I mean, isn't this basic economics one O one that we just
• 24:15
  kind of have more stability, we have volatility marking kind of
• 24:19
  like near or at all time lows. So I would probably not be
• 24:27
  opposed to some, you know, less boom bust and kind of more like
• 24:32
  the the promise of sound money is that we kind of eliminate
• 24:36
  lots of the boom bust. We have more stability.
• 24:38
  We have more opportunity to spend time to think, to innovate
• 24:42
  and to ultimately, like, maintain our wealth for
• 24:44
  generations. The problem is getting to that
• 24:47
  point requires a ton of volatility.
• 24:50
  And of course, the ones that wait it out are the ones that
• 24:52
  are most rewarded. And so, yeah, I think that the
• 24:56
  writing or the story is about to be written.
• 24:59
  I personally subscribe to AQ4 bull.
• 25:03
  You know, every single time I count Bitcoin out in Q4, it just
• 25:08
  rips. And so maybe I'm pulling a Jim
• 25:11
  Cramer here and, and, and the exact opposite will happen.
• 25:14
  But I remember and I've been going through phone like old
• 25:17
  pictures and stuff, find an old like, you know, pics of the kids
• 25:19
  and stuff like this. And I remember, you know,
• 25:22
  screenshotting like Bitcoin was 1000 bucks in October and then
• 25:26
  it was 3000 bucks 2 weeks later. And then it was 14,000 bucks,
• 25:30
  you know, 4 weeks later. And that happened really, really
• 25:33
  suddenly and almost like blinking, you'll miss it.
• 25:36
  And then of course, you know, you have some kind of collapse,
• 25:39
  like a major custodian collapse is usually what does it, what
• 25:42
  kicks it in for the cycle. And then, you know, we head into
• 25:44
  winter and, and, and we're there for like 1000 days.
• 25:47
  And so I think that we're in for a pretty serious, they have to
• 25:52
  print, right? I think the printer is going to
• 25:54
  be humming very, very quickly. And when they print, you know,
• 25:58
  all that new money kind of just flows to the hardest asset.
• 26:02
  And it's not real estate, it's not gold, it's not stocks, it's
• 26:05
  not bonds, it's Bitcoin. So buckle up, it's going to be
• 26:09
  interesting. Amen.
• 26:10
  Yeah, let's not get the Bears cake because Nika is going to be
• 26:13
  like, we'll see, We'll see. We'll see what's going on, guys.
• 26:16
  I do want to give a shout out to the live stream.
• 26:18
  We have over 1000 people watching live on X, 520 people
• 26:21
  watching live on YouTube, and over 100 people watching live on
• 26:25
  Rumble. If you guys are enjoying the
• 26:26
  show so far, make sure to smash that like button.
• 26:28
  Really, really helps us with the algos.
• 26:31
  I just kind of want to pull this up and show you guys myself
• 26:34
  going into this year. So this one from one of my
• 26:37
  favorite movies. They've made a couple remakes so
• 26:40
  far. I think it's very fitting to
• 26:42
  Bitcoin name a movie is called All Quiet on the Western Front,
• 26:46
  right? And very excited when the
• 26:48
  soldiers, you know, they volunteered for the war, right?
• 26:51
  This is how I felt in the beginning of the year.
• 26:54
  This is exactly where I'm at right now.
• 26:57
  After all, the. Price action after everything
• 27:01
  that we've gone through this is how my face is but if Adam and
• 27:06
  Opti are right and I'm by the way I'm leaning in that
• 27:08
  direction to I'll be back here and then in 2026 I'll be back
• 27:12
  here again but this is Bitcoin this is Bitcoin this is what you
• 27:16
  signed up for anyways guys it's going to be a fantastic show so
• 27:20
  much stuff to cover we have a clip from Tucker Carlson was
• 27:25
  Bitcoin invented by the CI I can't even.
• 27:29
  A three letter agency. And then we got Balaji at BTC
• 27:33
  Asia. He's he's dropping some clips.
• 27:35
  And then of course, we have a special edition culture segment
• 27:38
  where we have the CEO and founder of the best place to
• 27:41
  build your automatic self custody Bitcoin stack,
• 27:44
  bitcoinwell.com, Adam O'Brien in the house and he's going to be
• 27:46
  answering some questions about the platform.
• 27:49
  So guys, you're going to want to stay tuned.
• 27:51
  We have lots to cover, but you guys know the deal.
• 27:54
  Simply Bitcoin is powered by our partners and we're very picky on
• 27:59
  who we choose to partner with. I want to give a very special
• 28:02
  shout out to our lead partner bitcoinwell.com.
• 28:06
  It's the best place to build your automatic self custody
• 28:08
  Bitcoin stack. Why do I say that?
• 28:11
  Because it's the only on ramp in the United States and Canada, I
• 28:14
  believe that is automatic self custody.
• 28:17
  What does that mean, Nico? That means that when you buy
• 28:19
  Bitcoin on Bitcoin, well, as soon as the funds clear, they go
• 28:22
  straight to yourself Custody Bitcoin wallet address, which
• 28:25
  perfectly aligns with the simply Bitcoin ethos because after all,
• 28:29
  self custody is the revolution. If you're a higher net worth
• 28:32
  individual looking to buy $50,000 worth of Bitcoin or
• 28:35
  more, you have to check out Bitcoin Well, Infinite.
• 28:39
  It's a white glove service tailored for family offices,
• 28:42
  trust organization, or if you're a very rich person and you can
• 28:47
  schedule a call and the Bitcoin well, Infinite team will take
• 28:49
  care of you. You can call them, you can text
• 28:51
  them anytime you want to buy Bitcoin.
• 28:54
  And within 24 hours, that Bitcoin that you bought go
• 28:57
  straight to yourself. Custody, Bitcoin wallet address.
• 29:00
  What are you waiting for? Go to bitcoinwell.com/OTC.
• 29:04
  And you're going to want to stay tuned to the end of the show
• 29:06
  where where we will be giving away some sats with the Bitcoin
• 29:10
  wishing well. All right, everybody, let's
• 29:12
  start the show. We have tons to cover.
• 29:14
  We will be right back in just a second or a couple seconds, like
• 29:18
  30 seconds, we'll be right back. I want to give a shout out to
• 29:27
  our partner Stamp Seat. Is your Bitcoin and cold storage
• 29:30
  really secure? Are your seed phrases really
• 29:33
  secure? Stamp Seeds Do It Yourself kit
• 29:36
  has everything you'll need for you to hammer your seed words
• 29:39
  into commercial grade titanium plates instead of just writing
• 29:43
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  Titanium plates are strong. Your words are actually stamped
• 29:50
  into the titanium plate with this hammer and these letter
• 29:54
  stamping tools. Once the words are in, they
• 29:57
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• 30:00
  apart and pieces falling everywhere.
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• 30:06
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  And now you can customize your titanium seed plates.
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• 30:24
  where the words are. Stamp your seed on Stamp seed
• 30:27
  and use promo code simply to get 15% off anything on the Stamp
• 30:33
  se-ed.com store. Alright everybody, we are back
• 30:41
  guys. At the time of recording, the
• 30:42
  Bitcoin price is $112,320. Block height 912,118.
• 30:49
  That's for dollar 890 market cap 2.24 trillion Bitcoin versus
• 30:53
  gold market cap 9.3% declined from all time high -9.8%.
• 30:57
  That's right. If you're buying Bitcoin right
• 30:59
  now, you're getting at a 10% discount.
• 31:01
  So pause the show right now. Go to Bitcoin well and stack
• 31:05
  some sats. You're getting Bitcoin at a 10%
• 31:07
  discount. That's that's fantastic.
• 31:09
  That's a great deal. Realize monetary inflation.
• 31:11
  Bitcoin continues to take Fiat currencies to absolute school,
• 31:14
  currently sitting at .84%. The Federal Reserve just
• 31:17
  admitted that they're not going back to 2%, they're going to 3%,
• 31:22
  right? Oh, so Bitcoin is, and that
• 31:24
  number is just going to keep going down.
• 31:26
  I think when me and Opti start covering that number is like one
• 31:28
  point, something I don't know is a lot higher anyway. 3 point
• 31:31
  something. Oh, it's 3 point something.
• 31:33
  Look at that. So anyways, here is Balaji and
• 31:36
  here should I play. I'm wondering which clip I
• 31:39
  should play. You know what I'm going to.
• 31:40
  I'm going to play the Tucker clip.
• 31:41
  Let's check it out. I don't think so.
• 31:44
  The crypto committee, I am their number one target.
• 31:47
  They say you are a hodler and I won't buy it.
• 31:51
  And the reason is because I believe that several layers 1 is
• 31:55
  that I believe that that the authorities are not going to let
• 31:59
  crypto take over. Of course not.
• 32:02
  And and by the way, that means that.
• 32:03
  They're going to lose total control over society, you think?
• 32:06
  The Rockefellers and the Rothschilds are going to hand it
• 32:08
  over to Max Keiser and Michael Saylor, I don't think.
• 32:11
  So you don't you don't think here's.
• 32:13
  What I think it actually is, you know, the 1st paper on crypto
• 32:16
  was written by three NSA guys. Yeah, that means I think if I
• 32:20
  were smart and I were going to bringing central bank digital
• 32:24
  currency, which is an authoritarian nightmare, I would
• 32:30
  do it the way they did. I'd release the crypto, I'd have
• 32:33
  guys pumping it, I'd have guys supporting it.
• 32:35
  I'd let them debug the networks and the kinks and the and
• 32:40
  acclimate people to it. And then I'd say, OK, it was
• 32:43
  fun, we'll take it from here. And in the process, of course,
• 32:49
  you acclimate people to this new All right, everybody, I'm going
• 32:54
  to refer, we're going to refer to a lot of these agencies as as
• 32:58
  three letter agencies and YouTube.
• 33:00
  We love you guys. And yeah, anyways, so I mean,
• 33:06
  this podcast blew up, blew up. Tucker had this gentleman, I
• 33:10
  think his name is Daniel. I, I don't know the last name
• 33:12
  this this podcast blew up. He.
• 33:14
  Said a lot. Of a lot of thank you, Opti.
• 33:17
  He said a lot of things that were outside of the Overton
• 33:19
  window. But that clip specifically
• 33:21
  applies to, of course, simply Bitcoin, right?
• 33:23
  And he's making the case that look like, you know, Bitcoin
• 33:26
  might have been invented by, you know, by the government itself.
• 33:32
  I don't believe that, but he buried the lead, which we were
• 33:36
  talking about at the beginning of the show.
• 33:38
  It's literally the same exact topic.
• 33:40
  Are they going to allow Bitcoin to succeed?
• 33:44
  And my response to that is I think they're going to try to
• 33:48
  stop it, but This is why self custody is important, because if
• 33:53
  you have millions upon millions, let's say you have 20% of the
• 33:56
  population taking Bitcoin into self custody, right?
• 34:00
  And, and, and look at the United States with the Second
• 34:02
  Amendment, more, more guns than there is people.
• 34:05
  That's going to be a very difficult thing to to, to
• 34:08
  convince people to hand over sound money for paper, right?
• 34:12
  Again, This is why self custody is important.
• 34:15
  This is why, you know, learning how to regain your sovereignty
• 34:19
  is important. This is why learning how to use
• 34:21
  a hardware wallet is important. Because when that day, and I
• 34:26
  think we're all in agreement here inevitably comes, you know,
• 34:31
  you have your Bitcoin and then it's like, oh, I lost it.
• 34:33
  It's a voting accident, I don't know.
• 34:35
  Or you move to a more favorable jurisdiction.
• 34:38
  We have a beachhead in a nation state, meaning the men with guns
• 34:41
  will protect Bitcoiners. And that country, of course, is
• 34:44
  El Salvador, right? So we are making progress.
• 34:47
  But I think eventually, you know, when when more and more
• 34:51
  people lose confidence in Fiat and seek refuge in Bitcoin, I
• 34:56
  think eventually there is going to be some type of some type of
• 35:00
  clash. And I think that's what that
• 35:02
  gentleman was talking about. Adam, what's your take on all
• 35:04
  this, brother? Yeah, man, I think that if I was
• 35:08
  a free letter agency, I would want to design something like
• 35:12
  Bitcoin, but I'd want a backdoor, I'd want to be able to
• 35:16
  re control it. And I don't know that like I
• 35:19
  haven't found it. I think there's been lots of
• 35:21
  people trying to find the backdoor into Bitcoin for a long
• 35:25
  time. And so if if they are Satoshi,
• 35:28
  then thanks guys, but you did a good thing and not then bad
• 35:33
  things. You usually do.
• 35:34
  I I think that the protocol, how it works, how it's designed, you
• 35:39
  know, how it can fork like I, I just I just don't see how anyone
• 35:43
  can capture control involuntarily in Bitcoin other
• 35:48
  than the economic ways that they've done time and time
• 35:50
  again. This you know, this same
• 35:52
  argument. It sounds so dumb when you're
• 35:55
  like, oh, you know, this three letter agency created gold and
• 35:59
  and and they're the ones and they're and they're going to
• 36:01
  take control of gold. People would be like, how, how
• 36:03
  do you take control of gold that you can't do that other than
• 36:07
  coercing and forcing people to give you their gold?
• 36:10
  And I think Bitcoin's in the exact same way.
• 36:13
  And we have to be smarter this time around, you know, four or
• 36:15
  five generations later, we have to be smarter that we are not
• 36:19
  going to give up our sound money when the men with gum guns come
• 36:23
  and ask for it. And so I don't, I just don't
• 36:27
  people that talk like this is it's evidence that you don't
• 36:30
  understand like how the Bitcoin protocol works.
• 36:33
  They've obviously never set up a Bitcoin wallet.
• 36:37
  They don't run a node. They don't mind Bitcoin.
• 36:39
  Like when you when you participate in the ecosystem
• 36:43
  like that, you just really understand how good Bitcoin is,
• 36:47
  how safe Bitcoin is and how censorship distant Bitcoin is.
• 36:51
  It's easy to look at digital payments as a Fiat payment
• 36:54
  because the only digital payment we've ever known have been
• 36:57
  censorship heavy centralized payments.
• 37:01
  And Bitcoin is the complete opposite of that.
• 37:03
  And so it's just not a viable. This is just FUD.
• 37:08
  This is like high quality FUD where before we looked at Warren
• 37:12
  Buffett as like the FUD master, you know, and, and we looked at
• 37:15
  all these guys and were like, these guys are buffoons.
• 37:17
  This argument is just modern day FUD and it it it just doesn't
• 37:21
  last. Absolutely, I, I agree with you
• 37:24
  All right, ladies and gentlemen, I'm going to call an audible
• 37:26
  here. We're going to do a special
• 37:27
  edition of Simply Bitcoin. We're going to keep this
• 37:29
  rolling. I want to take advantage of the
• 37:30
  fact that Adam O'Brien is joining us on the show today.
• 37:34
  We've been getting many comments asking about Bitcoin well and
• 37:39
  you literally have the man that built Bitcoin well in front of
• 37:42
  you. So drop your questions in the
• 37:44
  comments and we'll also address some comments that were talked
• 37:47
  about in the past as well. So I'm gonna hand it off to you.
• 37:53
  Are we switching? No.
• 37:55
  No, no, we're gonna keep it. Going.
• 37:57
  We're gonna do it right now. Yes.
• 37:59
  OK, that's all righty then. I thought we were gonna hit a
• 38:02
  transition here. OK, my bad.
• 38:03
  My bad. I was waiting for the
• 38:04
  transition. All right, yeah, so Adam does
• 38:07
  have a hard stop here. But guys, I want like, as I was
• 38:10
  saying earlier, you guys have been hitting us up in the chat
• 38:13
  for the last couple of weeks about Bitcoin.
• 38:16
  Well, and I, I reached out to Adam and he was like, dude, feed
• 38:20
  me all the feedback. I want to hit it head on.
• 38:23
  And then we were chatting yesterday and he's like, dude,
• 38:26
  why don't I just come on the show and I'm like, all right,
• 38:28
  perfect. Like we got a free, we have a
• 38:29
  open guest slot tomorrow. Let's get you on and that's
• 38:32
  today. So there is a few things, Adam,
• 38:35
  I don't know where, which one should we start with?
• 38:37
  Actually, let's start with the big one, the one we were talking
• 38:40
  about yesterday. So I forget who it was in the
• 38:42
  chat, but someone keeps mentioning this some like limit
• 38:46
  order error that you guys are getting on Bitcoin Whelm.
• 38:49
  And then Adam, you're like, yeah, man, I, we, we're getting
• 38:53
  some fuckery with the banks here.
• 38:54
  So let's let's explain this and then, you know, let people know
• 38:58
  what's going on. OK, So the, the the full big
• 39:01
  picture across the limits of Bitcoin, well is there's kind of
• 39:04
  two different types of limits. There's like an early or like a
• 39:07
  new customer limit and then there's like a an existing or a
• 39:11
  good customer limit. The reason we have to do that is
• 39:14
  because over the last a couple of months we've experienced
• 39:17
  hundreds of thousands of dollars worth of fraud.
• 39:19
  And now the banking system in the USAI thought the banking
• 39:23
  system in Canada was bad. Somehow the banking system in
• 39:26
  the USA is worse. I didn't think that was
• 39:27
  possible. That's like the Canadian banking
• 39:29
  system is a dumpster fire and somehow the American banking
• 39:34
  system is a dumpster fire on steroids.
• 39:37
  So dealing with that has been interesting and a learning curve
• 39:40
  for us. Basically what people bad actors
• 39:43
  have been doing is they've been just like recalling or charging
• 39:46
  back those transactions. Of course, we're self custody
• 39:48
  platform. So we send the Bitcoin right
• 39:51
  away and then these bad people are just calling the money back.
• 39:54
  It's fraudulent, we're losing money.
• 39:56
  It's like it's all just a bad a bad thing.
• 39:58
  And so to prevent that, we've got these kind of lower limits.
• 40:00
  You know, one of the options was just hold the Bitcoin.
• 40:02
  I'm against that, obviously. And so it's lowering the limits,
• 40:05
  which obviously makes the customer experience worse and
• 40:07
  we're working on fixing that over the long term.
• 40:09
  But those two things are. Kind of what set the stage for
• 40:12
  this then inside those two new limits where they're already
• 40:16
  pretty low, $2000 a week and $10,000 in your first month type
• 40:21
  of limits. But even outside of that, we're
• 40:24
  now seeing the banks with. So when we pull money out of the
• 40:28
  bank account to facilitate the order, the bank looks at that
• 40:31
  transaction and they pass it off to this third party that's
• 40:35
  called Radar. And what RADAR does is they
• 40:38
  investigate randomly for fraud. And so if RADAR, this third
• 40:45
  party system, which is part of the whole banking environment,
• 40:48
  if Radar determines that payment is or could be fraudulent, then
• 40:52
  they just arbitrarily nuke the payment.
• 40:55
  And So what? And then we get back from the
• 41:00
  bank that this payment failed and then we obviously have to
• 41:03
  send that to the customer and say, hey, the payment didn't go
• 41:06
  through. Now this, this part's on our
• 41:08
  end, our communication and the way that we handle that error
• 41:11
  needs to be improved. And so we're handling that right
• 41:12
  now. But the, the crux and like the
• 41:16
  root issue is kind of out of our control, which is super, super
• 41:19
  frustrating because I love when I love it when there's an issue
• 41:21
  that I just get to fix. But right now we're working on
• 41:24
  ways to not circumvent the radar and not circumvent this like,
• 41:29
  you know, arbitrary banking fraud protection measure, but
• 41:32
  find ways to work within it that enables the the customer
• 41:36
  experience. And So what we found that helps
• 41:38
  is just doing multiple smaller payments.
• 41:41
  So instead of doing one $1500 payment, do three $500 payments,
• 41:46
  for example, or do one every day for 500 bucks.
• 41:49
  So that's been working really good.
• 41:50
  The thing that's also been working better is funding an
• 41:52
  account balance and then drawing out of that account balance.
• 41:55
  But both those things admittedly take more time and more effort
• 41:59
  on the customer. And So what we're moving towards
• 42:01
  right now and we're actively building and is hopefully a few
• 42:04
  weeks away is this, this ability to push payments to Bitcoin
• 42:09
  well, because when you authorize the push payment out of your
• 42:12
  bank, so you'd log into your bank, you enter in your Bitcoin
• 42:14
  well banking details and then you'd send the payments there.
• 42:17
  That's a faster. So in for some banks that'll be
• 42:20
  instant. And for other banks, it'll be
• 42:21
  one business day compared to the three business day thing that
• 42:24
  we've been that we've been working within right now.
• 42:28
  But also we'll be able to increase those limits because
• 42:32
  there's less chance of fraud. And so we can we can kind of
• 42:36
  paint, yeah, we can paint a broader stroke with the brush to
• 42:40
  help that. So, you know, classic Bitcoin
• 42:43
  here and classic, you know, when you have a team of Bitcoiners,
• 42:45
  like you're just able to take aligned incentives.
• 42:48
  Like guys, in no way are we like, let's lower the limits and
• 42:52
  piss all of our customers off. Like that would be very bad
• 42:56
  business. We are getting, you know,
• 42:58
  completely caught, blocked by the bank here.
• 43:00
  And so finding ways to understand, work within and then
• 43:05
  innovate inside the banking environment is kind of what this
• 43:08
  team has been good at in Canada and we're putting that same
• 43:10
  energy towards the US. And so all this to say, what was
• 43:15
  the hardship? And thank you to everyone who's
• 43:17
  been commenting and like talking to us and saying, Hey, this got
• 43:20
  to get fixed. Like this could be better.
• 43:22
  Like you guys have known if you've been watching the show
• 43:24
  for a while, you know that I love building in public.
• 43:27
  I love the feedback. I've cut thick skin.
• 43:29
  You're not going to hurt my feelings when I get Adm with
• 43:31
  meaningful feedback. It goes straight to the team and
• 43:35
  we workshop and we and we fix it.
• 43:37
  This is how we built. This is how we've always built
• 43:38
  Bitcoin. Well, this is no different.
• 43:40
  And so super, super pumped to be able to do this.
• 43:43
  And what's going to come from this is higher limits, which are
• 43:46
  faster and which are going to ultimately improve the customer
• 43:50
  experience. And so I think that, yeah,
• 43:52
  super, super pumped on that. We really appreciate your
• 43:54
  patience. And again, once again, you guys,
• 43:56
  this is the importance of being as a Bitcoiner in this early
• 44:00
  stage. This is why I urge you to use a
• 44:04
  platform that aligns with your ethos.
• 44:06
  If we did not have you group of early adopters that were willing
• 44:10
  to overcome the pain points and help us build in public, we
• 44:14
  would not be able to survive. It would literally not like we
• 44:17
  are still losing incredible amounts of money in the USA.
• 44:21
  It is not profitable for Bitcoin well to operate this very
• 44:25
  specific business segment in the USA.
• 44:27
  But we do it because we know it's the right thing.
• 44:28
  We do it because we know that at scale it will be.
• 44:31
  And when you don't hold customer funds, when you try to get funds
• 44:34
  into into Bitcoin wallets, we try to get Bitcoin into wallets
• 44:37
  as fast as possible and you're trying to maintain the lowest
• 44:40
  spread in the country. Like there's just it's time.
• 44:43
  And so it's because of you group of early adopters that were able
• 44:46
  to do this. And so This is why I, I urge you
• 44:50
  and I thank you for using a platform that aligns with your
• 44:53
  ethos, that aligns with your understanding of how important
• 44:56
  self custody is and why supporting a non custodial
• 44:59
  Bitcoin platform like Bitcoin well is so, so crucial to the
• 45:02
  mission. So thank you guys so much.
• 45:04
  And yeah, look forward to faster payments coming into Bitcoin.
• 45:08
  Well, and you know, I'll just, I'm just, I'm running this Opti.
• 45:11
  So this is my show now and, and thank you very much.
• 45:15
  But payments leaving Bitcoin well are like virtually instant
• 45:20
  if your bank supports what's called RTP real time payments.
• 45:24
  And so we've built it in such a way where if you go to sell your
• 45:30
  Bitcoin, which you should be doing if you're spending
• 45:32
  Bitcoin, if you have Fiat on the side, are you even a bitcoiner?
• 45:37
  So when you go to sell your Bitcoin, because you need to use
• 45:39
  the funds to pay rent, to buy groceries, to go on a trip, to
• 45:42
  buy a car or whatever it's going to be, you can generate a
• 45:45
  Lightning invoice or of course, make the payment on chain with
• 45:49
  Lightning. The millisecond that our node
• 45:52
  receives the Lightning invoice, a payment is triggered.
• 45:55
  And that payment I like, I use this to pay some of our team.
• 45:58
  I use this to pay some of the people that that work directly
• 46:01
  with me. And it's like minutes.
• 46:04
  Within minutes, there is Fiat in their bank account ready to
• 46:08
  rock. So that's been super cool.
• 46:10
  We want to bring that same speed and that same action into the
• 46:13
  reverse, which of course the reverse is a lot more exciting.
• 46:15
  If you can just send money and receive Bitcoin into your
• 46:18
  Lightning wallet or into your personal Bitcoin wallet
• 46:21
  immediately, that's like way better.
• 46:23
  What we found is lots of banks don't support or support a weird
• 46:27
  version of of this real time payments network.
• 46:30
  And it's just been a disaster to try to figure out.
• 46:33
  But as always, the team's been cooking.
• 46:35
  And yeah, I think we're on the right track, on the right path.
• 46:38
  And again, like the patience and the and the love from this
• 46:41
  community, it's just like overwhelming and it's so good.
• 46:45
  And so, yeah, thank you for sticking it out with us.
• 46:47
  Thank you for being that early adopter for this platform and
• 46:49
  for making our platform better. Your grandchildren will thank
• 46:52
  you. When the default, like people
• 46:55
  should be floored in the future. Like why would anyone ever use a
• 46:59
  custodial exchange? Why were people not taking self
• 47:03
  custody of Bitcoin? Why did exchanges even have to
• 47:05
  post proof of reserves? Why would anyone have proof of
• 47:08
  reserves when they can just take the Bitcoin themself?
• 47:11
  And that's the world that I want to get to.
• 47:13
  And all of you guys helping us build that, that's the world
• 47:16
  that we're moving towards. So thank you all so much.
• 47:19
  Awesome. Yeah, and one of the things that
• 47:22
  I I admire about you guys specifically Adam is, and I've
• 47:25
  told you this, I think every single time we've had a
• 47:28
  conversation either in an interview or you come on on
• 47:30
  simply Bitcoin. And for anyone who's tuning in,
• 47:34
  what differentiates Bitcoin well from a lot of other on ramps is
• 47:40
  that they're they are they're a non custodial exchange.
• 47:43
  So the, the, the TLDR of what that means, if you guys are just
• 47:47
  tuning in, you don't understand, it means that when you buy it,
• 47:50
  when you buy Bitcoin on the platform, they don't hold your
• 47:52
  Bitcoin. You can't even you can't even
• 47:54
  leave it on there. So when the funds clear, go
• 47:57
  straight to yourself, custody wallet address, which forces you
• 48:00
  to learn self custody. Building a business around that
• 48:04
  model is very difficult because it's a lot easier to just, you
• 48:09
  know, it. You have a much wider net, you
• 48:13
  could say, right, because people want convenience.
• 48:16
  People don't want to take that sovereignty.
• 48:18
  But if you build it in a way where you create an incentive
• 48:22
  structure where you're essentially incentivizing people
• 48:25
  to buy Bitcoin because you can't just leave it on the exchange,
• 48:29
  that's, you know, kind of tying in and weaving in all the points
• 48:32
  that we've been making throughout the show.
• 48:34
  That's where we get, that's how we get to the world we want to
• 48:37
  live in. That's where that's how we get
• 48:40
  to the world we want our kids to live in, right?
• 48:43
  That's the only way it's through self custody.
• 48:45
  So Adam, I really admire that you guys have taken the narrow
• 48:50
  path in building the exchange, building the on ramp, the way
• 48:55
  that you guys have had, the way that you guys have done because
• 48:58
  it's the correct way, it's the right way and the correct way
• 49:02
  and the right way is. Usually the hard way, right?
• 49:04
  So all. Right, Adam, the other thing we
• 49:08
  got a hit. People been yelling at me about
• 49:12
  it. I've been bringing you the
• 49:13
  messages. I've been your customer support
• 49:16
  is address the customer service, the customer support stuff.
• 49:20
  I think I think the the chat's been angry at me about it and
• 49:24
  I'm like guys, I work at simply Bitcoin.
• 49:26
  I I'll talk to Adam about Bitcoin.
• 49:28
  Well, so will you hit? That this is this is just
• 49:31
  straight up an area we have to improve.
• 49:32
  There are three options when you scale a service like Bitcoin.
• 49:36
  Well, internationally, 1 is you outsource to, you know, India or
• 49:43
  one of the other popular spots 2 is you like AI chat bought it or
• 49:48
  three is you hire and scale it up and hiring and scaling up is
• 49:52
  the exam or is the option that we chose doing it internally.
• 49:55
  I don't want to outsource. I don't want to create like you
• 49:59
  know, you don't want quick response times.
• 50:01
  What you want is quick and good response times and you know,
• 50:05
  with a with like, think about, think about how many people are
• 50:07
  watching this show. There's thousands of people
• 50:08
  watching this show. I'd say probably less than 10%,
• 50:12
  correct me if I'm wrong, chat less than 10% actually run a
• 50:15
  node and less than half of that of, of the chat of the people
• 50:21
  watching, you know, could, you know, comfortably explain self
• 50:25
  custody. And so when we're working,
• 50:27
  trying to find qualified individuals to handle the
• 50:30
  customers, that's a that's like, that's, that's a low time
• 50:33
  preference build for us. We want to make sure that the
• 50:35
  person in the chair can answer these questions correctly.
• 50:40
  I don't want some AI chat bot or some doofus on the other side of
• 50:45
  the planet who doesn't know anything about Bitcoin, who
• 50:48
  can't functionally teach you and educate you.
• 50:50
  Like we see our customers success team as a group of
• 50:53
  people that is going to be educating, you know, our entire
• 50:57
  customer base about Bitcoin and helping them with self custody.
• 51:01
  We are we, we do a lot more support around helping people,
• 51:05
  you know, take Bitcoin into self custody than we do about using
• 51:08
  the platform just because of the nature of the business.
• 51:10
  And so it's a higher bar for hiring, it's a higher cost for
• 51:13
  hiring and it's a longer time frame for hiring, but it's, it's
• 51:17
  in the works. And, and you know, as always,
• 51:19
  like especially for, you know, you guys watching this chat like
• 51:22
  you're in the VIP, if you make a support request and you don't
• 51:27
  hear back, DM me on Twitter if you want or put it in the chat,
• 51:31
  but put some kind of reference like it's, it's not super
• 51:35
  helpful. If I like, I want to double
• 51:37
  click on the people that care enough to like support us and,
• 51:40
  and, and, and watch us and help us build.
• 51:42
  I want to double click those from the top down.
• 51:45
  But you got to give me a reference.
• 51:46
  It's a support ticket number. If it's your well tag, if it's
• 51:48
  the e-mail that you use, don't post your e-mail publicly.
• 51:50
  Like do that in Adm or something, but just like if you
• 51:53
  give me a reference that I can double click that and we can
• 51:55
  figure out and like understand why that's going on.
• 51:58
  There might be some, you know, I've even seen instances where
• 52:01
  our emails out get blocked by certain corporate e-mail
• 52:04
  servers. Like there's just, there's a
• 52:05
  hundred different reasons that could be happening.
• 52:08
  I want to double click on absolutely every and anything
• 52:10
  that's in our control. And one of that is the hiring
• 52:12
  practices, which I think like, again, we're ramping that up
• 52:15
  and, and, and hoping to and looking to scale that
• 52:18
  aggressively. And yeah, I'm hopefully it'll
• 52:20
  get better. And I'm also again, thankful for
• 52:24
  the patience and thankful for you guys helping us build in
• 52:27
  public. But when that happens, like
• 52:30
  reach out with some kind of reference so that I can just
• 52:33
  double click it and solve the problem.
• 52:35
  Adam, it sounds, It sounds. Let me let.
• 52:38
  Me Bitcoin Barber bro, you've been going ham dude.
• 52:40
  I dropped Adam's Twitter handle in the in the in the live chat.
• 52:45
  Send them Adm bro. All right and.
• 52:47
  Then really it really. Sounds like that.
• 52:50
  It sounds like you need to hire some people from the Simply
• 52:53
  Bitcoin chat, so if you're mad about the customer service,
• 52:56
  maybe you should work at Bitcoin.
• 52:58
  Well, as their customer service. Opening.
• 53:02
  Come on, I think they just want to work on Bitcoin.
• 53:04
  Well, man, I think that's what it's about.
• 53:07
  I don't know, man. It's pretty hardcore culture.
• 53:12
  Come on, Barbara, DM me. Let's talk, baby.
• 53:15
  Let's talk. This is, this is how Bitcoiners
• 53:17
  build, man. This is the way it happens.
• 53:19
  It's like you see a problem, you got to solve it.
• 53:21
  Well, if you don't have X, like, then get me on Noster
• 53:23
  primal.net/adam. You can, you can just hit it,
• 53:26
  man. You can drop Yeah.
• 53:27
  Drop your e-mail. It's like, it's like, let's go,
• 53:31
  let's solve this problem together, man.
• 53:33
  Come on. Yeah, absolutely.
• 53:35
  Anyways, Adam, we do want to be respectful of your time.
• 53:38
  Thank you so much for joining us on the show today.
• 53:40
  Dude, you're an absolute legend. Guys, go to bitcoinwell.com,
• 53:44
  best place to build your automatic self custody Bitcoin
• 53:46
  stack. This is the founder and CEO,
• 53:47
  Adam O'Brien. Thank you for joining us.
• 53:50
  Thank you guys, as always mad love and I will catch you guys
• 53:53
  later. Appreciate it, dude.
• 53:54
  All right, everybody, We have a incredible show lined up for you
• 53:58
  guys. We got the new segment, we got
• 54:00
  the culture segment and it's going to be fantastic.
• 54:03
  So stay tuned. We will be right back in just a
• 54:06
  SEC. I want to give a shout out to
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  our partner Let In, the leader in Bitcoin Back Loans unlock the
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• 55:57
  All right, ladies and gentlemen, we are back and we got a hell of
• 56:01
  a show lined up for you guys. And we got some some interesting
• 56:05
  clips from Balaji at Bitcoin Asia.
• 56:08
  He's been dropping the sauce. He's calling Kenzian economics
• 56:12
  Marxist. What the hell is that?
• 56:15
  What's going on with that? What that's that's interesting
• 56:18
  moving that Overton window. We did not say that.
• 56:21
  We did not say that. I'm just quoting what he said.
• 56:23
  We didn't say that. Anyways, here's the first clip
• 56:26
  and then I'll play. You got another clip and then me
• 56:28
  and Opti, you're just going to, you know, we're going to talk
• 56:30
  back and forth. Smash the like button if you
• 56:33
  guys are enjoying the show and of course, make sure to check
• 56:39
  out the poll that's currently live on YouTube.
• 56:41
  Do you believe Bitcoin will have a parabolic Q4 in 2025?
• 56:46
  The majority of you guys, 64% believe that is the case.
• 56:50
  If you're on Rumble, shout out Rumble.
• 56:51
  We just broke 10,000 subscribers on Rumble.
• 56:54
  We love the platform. It's fantastic.
• 56:57
  Subscribe smash that like button and of course, if you're
• 57:00
  watching us on X, we love X, we love Elon.
• 57:03
  Smash the like button. Give us a follow.
• 57:05
  Give the Simply Bitcoin account a follow.
• 57:08
  Give Opti's account a follow. Give Opti's account a follow.
• 57:13
  Opti's the anti influencer. Opti's the anti influencer.
• 57:19
  I didn't choose influencer life, Nico, it chose me.
• 57:21
  All right, everybody. Well, let's check out this clip
• 57:23
  from Balaji. This is when Bitcoin wins, real
• 57:28
  estate falls in real terms and people stop actually, you know,
• 57:31
  using houses as an investment. And they invest in Bitcoin, they
• 57:35
  hold Bitcoin, really they store value in Bitcoin and houses,
• 57:38
  apartments. That's for utility.
• 57:41
  So, I mean, this is something that we talked about yesterday,
• 57:43
  right? We, we made a very, very solid
• 57:47
  point about this. It's, it's just incredibly
• 57:50
  obvious, you know, housing should not be seen as an
• 57:55
  investment vehicle. Housing is meant for to live.
• 58:01
  It's like, it's like you need a house, right?
• 58:04
  You know, like not all of us, you know, are like Opti who
• 58:08
  just, you know, roam the streets at night.
• 58:11
  A lot of us want to live in a house.
• 58:14
  I got AI got a cardboard box under the what's the under the
• 58:18
  Miami overpass over here I'm. Just butt hurt because Opti
• 58:21
  moved out. I have not forgiven him for
• 58:23
  that, but it made me very sad. I actually even put a memorial
• 58:28
  picture in his room and everything.
• 58:29
  Oh dude, should I go find that? Anyways, so yeah, Opti, let's
• 58:35
  talk about this because we were talking about this yesterday.
• 58:37
  But it's it's a point that I want to keep hammering home
• 58:39
  because I think one of the biggest issues that people are
• 58:43
  feeling in society is like, dude, I can't afford a home.
• 58:47
  I can't afford rent. Like what is this you guys are
• 58:50
  talking about buying Bitcoin? Dude, I can't even make rent
• 58:53
  this month. Like, shut the F up, right?
• 58:57
  So yeah, Opti, I'm going to pass it on to you, dude.
• 58:59
  Like, what? What, what, What are your
• 59:01
  thoughts on this, bro? Because this is something that
• 59:03
  has disproportionately affected our generation the most.
• 59:08
  We showed you guys a a chart yesterday that the average home
• 59:12
  buyer is now 40 years old. 20 years ago, it was 30 years old.
• 59:19
  Like that's not normal. If the world is getting
• 59:21
  progressively wealthier, if productivity is increasing, then
• 59:28
  you know, like why is that not reflecting in society, right?
• 59:32
  And I love Jeff Booths quote, which I think is the most
• 59:35
  fitting, which is the natural state of the fleet.
• 59:37
  Free market is deflationary and we are not seeing that natural
• 59:43
  state of the free market. And the only way that you can
• 59:48
  see the natural state of the of the free market is if you have
• 59:51
  exposure to Bitcoin. If you have exposure to exactly
• 59:55
  right, work harder, put your bow tie on firm handshake.
• 59:58
  Look, look them straight in the eye, hand them your resume and
• 1:00:01
  boom, you'll get a house. Yeah, that doesn't work anymore,
• 1:00:03
  man. Anyways, Opti quick take on this
• 1:00:06
  and then I'll play the second clip by Bellagio.
• 1:00:09
  Yeah, I mean, you know, just don't, don't rent and live in a
• 1:00:14
  cardboard box under the overpass and stack stats.
• 1:00:17
  This is this is true. No, I'm trolling.
• 1:00:20
  God, I'm trolling. Look, what we're seeing right
• 1:00:24
  now is there there is a lot of economic trouble going on in the
• 1:00:28
  world. And anyone that is gaslighting
• 1:00:30
  you that, oh, the, the you know, economy is better than it's ever
• 1:00:34
  been, like on on the street here, like in real life, it is
• 1:00:39
  not better than it's ever been. Yeah, maybe the numbers are
• 1:00:42
  saying it's better than it's ever been.
• 1:00:44
  And reminds me of the Bellagio tweet that I brought up the
• 1:00:47
  other day of this idea of at the end of the Soviet Union, the
• 1:00:51
  economic numbers were all basically fabricated.
• 1:00:54
  And it would make you believe that we are in the best economy
• 1:00:57
  ever until it wasn't, until it blew up and they couldn't lie
• 1:01:01
  about it anymore. And so there is a lot of people
• 1:01:04
  struggling right now. And I do, I do feel for, for
• 1:01:08
  everyone out there, because look, if you're a Bitcoiner and
• 1:01:11
  you've been in Bitcoin for a long time, then you obviously
• 1:01:14
  had some, some excess capital. You, you know, you had a good
• 1:01:17
  job and you were able to live below your means and you were
• 1:01:20
  able to save in Bitcoin. And now you're savings, whatever
• 1:01:23
  you put in, whatever dollar amount you put in, or, you know,
• 1:01:27
  Fiat local currency amount you put into Bitcoin is probably
• 1:01:30
  higher now than it was back then.
• 1:01:32
  And so yes, we did kind of, you know, quote, get lucky, but it's
• 1:01:36
  not being lucky. It's just understanding that
• 1:01:38
  there was a problem and you started saving in Bitcoin.
• 1:01:40
  And so when you talk to a lot of Bitcoiners right now, I would
• 1:01:44
  argue that most Bitcoiners aren't really feeling the
• 1:01:46
  economic pains that that Main Street is feeling because we've
• 1:01:49
  been saving in Bitcoin. We're saving in a better
• 1:01:51
  denominator than everyone else. We're saving in the better
• 1:01:54
  money. And so, yeah, you are probably,
• 1:01:58
  you know, seeing inflation and grocery prices and gas prices go
• 1:02:01
  up and rent go up, but you still, you have a good savings.
• 1:02:05
  You have, you know, a good little padded Easter egg there.
• 1:02:09
  Sorry, nest egg where you you're not really too worried about it.
• 1:02:12
  But if you are one of the people that are newer to this space and
• 1:02:17
  you're just getting dipping your toes into Bitcoin, you're
• 1:02:20
  probably wondering, Hey, man, like one Bitcoin's 100 Ki can
• 1:02:24
  only buy, you know, $10 a Bitcoin a week.
• 1:02:27
  Like I got to pay rent. I got to, you know, buy
• 1:02:29
  groceries. I I got bills to pay, but saving
• 1:02:32
  $10 in Bitcoin is, is better than not saving anything at all
• 1:02:36
  or but saving $10 in Bitcoin is exponentially better than saving
• 1:02:41
  $10 in Fiat. Like you just can't do that.
• 1:02:43
  So yeah, I mean, look, there is a lot of struggles going on
• 1:02:47
  right now. The economy is harsh, hard for
• 1:02:50
  everyone globally right now. We are in a, in a very
• 1:02:53
  interesting and potentially dangerous time right now.
• 1:02:56
  And so as we know, Bitcoin price is going to go up 20.
• 1:03:00
  What's it everything divided by 21 million?
• 1:03:04
  Like if you are newer in the space and you have a choice
• 1:03:07
  between making a, a decent stack in Bitcoin or buying a house.
• 1:03:13
  I I think, I think it's a delayed gratitude moment unless
• 1:03:16
  it's like you, you know, you're like 60 years old and you've
• 1:03:19
  been working your whole life and the, the one thing you want is a
• 1:03:22
  house for you and your family. Like that's a totally different
• 1:03:24
  conversation. But if you're one of the younger
• 1:03:26
  generation, you know, what was the metric Nico under 39?
• 1:03:29
  Like if you're under 39 right now dude, forget that house.
• 1:03:34
  Like just stack Bitcoin and you'll be able to get a house
• 1:03:37
  very soon. Dude, I'm on that bit pain tit,
• 1:03:41
  bro. I'm not buying those bags.
• 1:03:43
  I'm not buying those bags. I'm going to rent and that's
• 1:03:49
  what I'm going to do because it just, it just doesn't make
• 1:03:52
  sense, man. It doesn't make sense for me to
• 1:03:54
  part with my Bitcoin to buy these overinflated housing
• 1:03:59
  housing prices. I'm not going to do that.
• 1:04:02
  I'm not going to do that as a bitcoiner.
• 1:04:04
  So I'm going to rent and you know, eventually those housing
• 1:04:09
  prices are going to go down and then I might dude, honestly,
• 1:04:13
  renting is pretty dope. Like it's.
• 1:04:14
  It's live in your mom's basement.
• 1:04:18
  All right, everybody. Let's check out the second clip
• 1:04:20
  from Bellagi. The the second passport is more
• 1:04:24
  important than the first home. OK, that's to say, being able to
• 1:04:28
  get to a place that respects property and that, you know, for
• 1:04:33
  example, in El Salvador, UAE, Singapore, something like that
• 1:04:36
  place where I mean, maybe Hong Kong, you know, that's your
• 1:04:39
  decision, right? But basically to get to a place
• 1:04:42
  that respects property rights is very, very, very important,
• 1:04:45
  right? I'd say those three are good.
• 1:04:47
  And there's other small states that may also be good,
• 1:04:48
  Singapore, Dubai and Salvary. I think they're going to do very
• 1:04:51
  well this this century and, and maybe and they're respectively
• 1:04:55
  in three time zones, right? America's EMEA and and Asia and
• 1:05:00
  Divine El Salvador are the most scalable because they're sort of
• 1:05:02
  they've got enough land to recruit.
• 1:05:03
  Singapore can't scale as well, but there's other places that
• 1:05:05
  might be like it. So that's a really good point,
• 1:05:09
  right? And this kind of goes into the
• 1:05:10
  thesis of the sovereign individual, right?
• 1:05:14
  At the end of the day, guys, the most important vote you can make
• 1:05:17
  is voting with your feet. So he was talking about the
• 1:05:20
  importance of, of a second passport, the importance of
• 1:05:25
  mobility. And this is the freedom that
• 1:05:27
  Bitcoin gives you Bitcoin gives you if you take Bitcoin in self
• 1:05:31
  custody. That's that's the caveat, right?
• 1:05:33
  If you take Bitcoin in self custody, it gives you the
• 1:05:36
  freedom to go to a more favorable jurisdiction if you
• 1:05:41
  don't like the jurisdiction that you're in or it's becoming
• 1:05:45
  totalitarian or it's not becoming business friendly.
• 1:05:49
  Like we saw this during the pandemic in the United States,
• 1:05:52
  like New York and California. Like, I'm not trying to give in
• 1:05:55
  a political opinion here, but let's just say like they weren't
• 1:05:59
  very business friendly. So what it what happened?
• 1:06:03
  The natural state of the market happened.
• 1:06:05
  A lot of people left California, a lot of people left New York
• 1:06:08
  and they went to Texas and Florida where, you know, it was
• 1:06:12
  a lot more friendlier for businesses.
• 1:06:14
  And at the end of the day, guys like the government doesn't run
• 1:06:17
  the economy. Businesses, small businesses,
• 1:06:21
  specifically entrepreneurs, they're the ones that are taking
• 1:06:25
  the risk and creating prosperity for society.
• 1:06:28
  And we've seen this throughout time.
• 1:06:31
  Like the the last century is an amazing example of this.
• 1:06:35
  You had the United States and you had the Soviet Union, right?
• 1:06:39
  And the United States wasn't a complete free market economy,
• 1:06:44
  but it was a much more free market economy than the Soviet
• 1:06:48
  Union was. And look at what happened to the
• 1:06:51
  Soviet Union, right? It ended up collapse.
• 1:06:53
  It ended up collapsing. And again, it has nothing to do
• 1:06:57
  with ideology. It has nothing to do with but
• 1:06:59
  like, you know, policy. I mean, you could say it has to
• 1:07:02
  do with politics, but I'm not looking at it that way.
• 1:07:04
  The way that I'm looking at it is the more, and this is like,
• 1:07:08
  don't trust me, verify, the more prosperous a society is, the
• 1:07:14
  more free a society is. And the reason is for that is
• 1:07:19
  simple, like if you have top down control over an economy,
• 1:07:24
  you're not going to get the price signals.
• 1:07:25
  You're not going to be able to properly allocate capital as
• 1:07:29
  efficiently as millions upon millions of individuals taking
• 1:07:34
  signals from the market. It's as simple as that, right?
• 1:07:38
  And that's what creates prosperity, right?
• 1:07:40
  And as a Bitcoiner, you know, you, you want to move to those
• 1:07:45
  countries that are prosperous. You want to move to those
• 1:07:49
  countries that protect private property rights.
• 1:07:53
  You want to move to those countries.
• 1:07:55
  You don't want to live in a country that's chaotic.
• 1:07:58
  You don't want to live in a country that's not business
• 1:08:01
  friendly. You don't want to live in a
• 1:08:03
  country that is totalitarian. It's it's not, it's not great.
• 1:08:07
  And like, name me one totalitarian society that is
• 1:08:12
  prosperous. Name me one doesn't work.
• 1:08:15
  Name me one society that has had a top down economy that is
• 1:08:21
  prosperous. Name me one.
• 1:08:23
  Name me one country. Name me an example of, of, of
• 1:08:27
  that ever happening in history. And you could say, Oh no, but
• 1:08:30
  Nico, hold on China. And I'll say, OK, China has a,
• 1:08:34
  a, a very, very powerful state, but they have a free market
• 1:08:38
  economy, right? And then you'll, you know, you
• 1:08:41
  could bring up other examples. It's like, no, but Nico, hold
• 1:08:43
  on. There's other European
• 1:08:44
  countries. And this is like, yeah, but they
• 1:08:46
  have free market economies. The free market economies is
• 1:08:50
  what's powering the prosperity of those countries.
• 1:08:53
  So you have this tremendous power as a bitcoiner to vote
• 1:08:57
  with your feet now to tremendous power.
• 1:08:59
  We've we've never really had that before, right?
• 1:09:02
  Like back in you look at case study after case study, right,
• 1:09:07
  the world wars, right? If you tried to leave, right?
• 1:09:11
  And you, you, let's say you're a certain ethnic group and you're
• 1:09:14
  being persecuted for your religious beliefs and what not.
• 1:09:19
  The first thing they'll do is freeze your bank account.
• 1:09:21
  And then if you try to cross the border, what do you think the
• 1:09:23
  border guards going to do? Right?
• 1:09:26
  That's the first thing that's going to happen.
• 1:09:27
  Like I was talking to Peter Schiff at the Bitcoin conference
• 1:09:29
  and he was like, you see this, this gold necklace, this gold
• 1:09:32
  bracelet that's worth $20,000. It's real.
• 1:09:35
  I can carry. And I look at him like Peter,
• 1:09:38
  the first thing they're going to do is going to, they're going to
• 1:09:41
  take that gold bracelet from you.
• 1:09:42
  The men with guns are going to take that gold bracelet from
• 1:09:44
  you. But this is where Bitcoin kind
• 1:09:47
  of moves the balance of power because all of a sudden you can
• 1:09:51
  write down a 12 word seed phrase or you can memorize it and you
• 1:09:55
  will memorize it. If you're in a pickle and your
• 1:09:57
  family's future depends on it, trust me, you will do that.
• 1:10:01
  And you can store theoretically 1,000,000 billions, trillions of
• 1:10:07
  dollars in your mind, right? That is extremely powerful.
• 1:10:11
  It's never happened in human history.
• 1:10:13
  Think about the alternative. What is the alternative?
• 1:10:17
  You, you, you're going to strap gold bars to your, to your, to
• 1:10:21
  your person. You're going to strap cash to
• 1:10:23
  your person like the Wolf of Wall Street, right?
• 1:10:25
  Like there's only so much cash you can take with you, right?
• 1:10:29
  They are going to trust me that the first thing they're going to
• 1:10:33
  do is they're going to stop the outflow of capital.
• 1:10:37
  That's the capital controls. It's the one of the first things
• 1:10:40
  that happens when a society starts to become economically
• 1:10:44
  unstable. So first things they do, right.
• 1:10:48
  So again, Bitcoin gives you the most powerful thing, like I
• 1:10:52
  would say like the one of the most powerful things ever, which
• 1:10:56
  is why I'm so hopeful about the future of the world.
• 1:10:59
  It gives you the individual to vote with your feet and go to
• 1:11:05
  the country that treats you best.
• 1:11:07
  And this is the theory from the sovereign individual.
• 1:11:10
  The theory of the sovereign individual is basically politics
• 1:11:13
  are going to become irrelevant as information technologies
• 1:11:17
  become more adopted as people seek their own information
• 1:11:23
  sources. Like what you guys are doing
• 1:11:24
  right now. You guys are listening to Simply
• 1:11:26
  Bitcoin. You guys could be listening to
• 1:11:28
  legacy media behind me, you guys could be listening to CNN, you
• 1:11:32
  guys could be listening to Fox News.
• 1:11:33
  If you are listening to those channels, you live in a
• 1:11:35
  completely different world than if you are digesting and and
• 1:11:41
  doing your own research. The same applies to money.
• 1:11:44
  We are going to reach a point in the next 1020 thirty years where
• 1:11:50
  a critical mass of the population is going to say, you
• 1:11:54
  know what this Fiat money just doesn't do it for me.
• 1:12:00
  It just like this 3%. Like why, why, why does money
• 1:12:05
  need to lose purchasing power to function?
• 1:12:07
  I don't understand. And then they're going to see
• 1:12:10
  Bitcoin and they're going to be like, wait a second, I, I, I, I
• 1:12:13
  transitioned to a Bitcoin standard and now all of a sudden
• 1:12:16
  housing isn't getting more expensive.
• 1:12:18
  It's actually getting cheaper, right?
• 1:12:21
  Like what the hell is that? And of course you're going to
• 1:12:24
  have reactions. You're going to have reactions
• 1:12:26
  because there, there there's a tremendous amount of power that
• 1:12:29
  comes from being able to issue money, right?
• 1:12:32
  And this is where what Balaji is saying hits.
• 1:12:38
  This is where, you know, you decide.
• 1:12:40
  And I, and I've met so many bitcoiners that are saying like
• 1:12:43
  Nico, like I moved to El Salvador.
• 1:12:45
  Me and Opti were on the verge of doing that last year with this
• 1:12:48
  last election. I mean, our industry was getting
• 1:12:51
  persecuted. The industry leaders were
• 1:12:53
  getting jailed like self custody was under attack.
• 1:12:56
  The mining industry was under attack, right?
• 1:13:00
  We're one election away from being in the same exact
• 1:13:03
  situation. It's the same thing.
• 1:13:06
  Like you guys have to understand what is happening here, right?
• 1:13:09
  But again, Bitcoin is about the individual.
• 1:13:13
  It's about you, right? When you put Bitcoin into self
• 1:13:16
  custody, listen, it's like the you guys seen the, the, the meme
• 1:13:22
  with the dog in the house. The house is on fire behind the
• 1:13:26
  dog and then the dogs in there and then it's like everything's
• 1:13:29
  fine. And then have you seen the meme
• 1:13:31
  of the guy in the bus, you know, in the world is like like
• 1:13:34
  burning on fire behind him and he's like, I'm fine.
• 1:13:36
  I have Bitcoin in self custody. It's the same concept, like the
• 1:13:40
  political situation. Here's the thing with Fiat
• 1:13:43
  money. With Fiat money, you're forced
• 1:13:45
  to care about politics because the money itself inherently is
• 1:13:48
  political. But Bitcoin, it's rules without
• 1:13:51
  rulers, it's apolitical money. The consequences of a Bitcoin
• 1:13:55
  standard are extremely political.
• 1:13:57
  But Bitcoin itself, the technology is neutral.
• 1:14:00
  It can't be manipulated or, or corrupted if it stays
• 1:14:05
  decentralized and secure. So you as a human being, you're
• 1:14:10
  going to get to a point where you say, you know what, like I
• 1:14:13
  live in this country or I live in this country.
• 1:14:15
  I, I just like this is this is that this is nuts.
• 1:14:22
  Like I'm going to leave, I'm going to go to El Salvador, I'm
• 1:14:26
  going to go to Singapore, I'm going to go to Dubai, I'm going
• 1:14:31
  to go to Florida, I'm going to go to Texas.
• 1:14:34
  I'm going to go to wherever, wherever, wherever fits whatever
• 1:14:38
  fits your lifestyle and what you're about, right?
• 1:14:41
  That's the power of Bitcoin. And that's what Bellaji was
• 1:14:43
  saying anyways, Opti. Yeah, it's funny.
• 1:14:49
  I was literally having this conversation with my sister and
• 1:14:52
  I'm obviously I, I don't go on on full simply Bitcoin rant with
• 1:14:56
  with my sister. She she already knows that I'm
• 1:14:59
  outside. She doesn't even know what
• 1:15:01
  Overton window means, but that I'm outside the Overton window.
• 1:15:04
  She's like, yeah, you're, you're my crazy brother.
• 1:15:07
  But I was I was telling her I I haven't caught up with her in a
• 1:15:11
  little bit and I called her I like talked to all of my family
• 1:15:15
  this like a week ago. And so I was like, you know
• 1:15:18
  what, I've been talking to my sister, so I'll give her a call.
• 1:15:20
  And I was on the on the treadmill.
• 1:15:22
  It was like raining. So I was getting to work out and
• 1:15:24
  I was talking to my family. I was killing two birds at lunch
• 1:15:26
  Stone, right. And we were catching up and she
• 1:15:29
  was asking me, you know, we were talking, she's asking me, like,
• 1:15:31
  how much are you paying in rent down there in Miami?
• 1:15:33
  And guys, I don't live in a cardboard box under the bridge.
• 1:15:36
  All right, That's just, that's just a bad joke.
• 1:15:38
  And I was telling her the price and she was like, Oh my God,
• 1:15:43
  that's so expensive. Like you can buy a mortgage with
• 1:15:45
  that. And I was literally like, yeah,
• 1:15:47
  but like, I don't know where I want to live yet.
• 1:15:49
  I'm, I'm not trying to be, you know, strapped down with, with a
• 1:15:52
  house anywhere. And I've said it before, I
• 1:15:55
  could, you know, rent it out and all that stuff.
• 1:15:57
  And I did the short like, yeah, it's just, I don't know where I
• 1:16:00
  want to live. I don't know where I want to
• 1:16:01
  settle down yet. She's like, what?
• 1:16:02
  You're not going to be staying down there in Miami forever?
• 1:16:04
  I'm like, I'll probably be here for a while, but forever I don't
• 1:16:07
  know. And anyways, that that whole
• 1:16:09
  conversation just, yeah, if Nico has his wife, that whole
• 1:16:13
  conversation just reminded me of that talk I had with my sister.
• 1:16:17
  And without going into all of the details and of course, like
• 1:16:21
  historical context and like my philosophical, you know,
• 1:16:26
  ideological events about it, I was just like, yeah, I just, I
• 1:16:29
  don't know where I want to stay forever.
• 1:16:30
  And she's like, yeah, that makes perfect sense.
• 1:16:32
  But when you come from like a Bitcoiners perspective, like
• 1:16:35
  it's a no brainer, especially if you know, Larry Fink said it
• 1:16:38
  yesterday when I played on the show.
• 1:16:40
  What was it yesterday, maybe 2 days ago?
• 1:16:43
  Like if you are afraid of your government seizing your
• 1:16:47
  property, if you are afraid of your government debasing your
• 1:16:50
  currency, then you're very obviously a Bitcoiner.
• 1:16:54
  And as much as I keep joking and I'm pretty serious about it, but
• 1:16:58
  I, you know, everything I do is a joke.
• 1:17:00
  I just, I'm the I'm the simply Bitcoin gesture here.
• 1:17:04
  I really do believe like I want to be in America, but you never
• 1:17:09
  know what's going to happen. And like Nico's saying, look, we
• 1:17:14
  maybe got away with four years here under Trump.
• 1:17:16
  That's going to be favorable for us.
• 1:17:19
  People could, you know, argue about that and say that's up for
• 1:17:21
  debate. But if things do go the wrong
• 1:17:24
  way, like really, really bad, things could get a lot worse
• 1:17:28
  here. And the US has the most to lose
• 1:17:30
  in in regards to losing control of the money.
• 1:17:34
  And as a Bitcoiner, you know, we've all read well, you we
• 1:17:37
  should have all read the sovereign individual here.
• 1:17:40
  I know Nico talks about that every single day on the show,
• 1:17:42
  basically. But the the thesis is very
• 1:17:46
  simple. As we go further into the
• 1:17:50
  information age, as you know, the powers that be are
• 1:17:55
  disintermediated because we have the tools for sovereignty, for
• 1:17:58
  personal freedom via the Internet and of course Bitcoin.
• 1:18:01
  They will lash back and they will try to gain the control
• 1:18:05
  that they lost. And the more they lose control,
• 1:18:09
  the Wilder these power grabs may become.
• 1:18:12
  And so just having that optionality is super important
• 1:18:15
  to me personally. And you know, I said all that
• 1:18:18
  with my sisters, like, I don't know where I want to live yet.
• 1:18:20
  And that's, you know, you can break this down and however you
• 1:18:23
  want. But going back to that Bellagio
• 1:18:25
  tweet, guys, we've said this so many times on the show.
• 1:18:29
  I have never heard, you know, Keynesianism is pure
• 1:18:32
  collectivism or however he framed it in that tweet.
• 1:18:36
  But we all know one of the tenants of a, you know, a very
• 1:18:40
  famous manifesto is and it's season control of the banks
• 1:18:44
  here, of the central banks. This is one of the main
• 1:18:47
  manifestos here. So we can argue that we've, you
• 1:18:50
  know, and I hate to do that like we've never seen real
• 1:18:53
  capitalism, but you can argue that we haven't been living in a
• 1:18:56
  capitalist society for a long time because of the central
• 1:18:59
  banks around the world. So, you know, things are
• 1:19:02
  changing in real time and things are evolving and iterating.
• 1:19:06
  And I think the best way to protect yourself as we move
• 1:19:10
  further into the digital age or the information era or the fork
• 1:19:14
  turning, however you want to frame it, whatever kind of you
• 1:19:18
  know, connects with your psyche. The most important thing you can
• 1:19:22
  be doing is optionality and holding your money in a system
• 1:19:25
  that isn't fully intertwined with the traditional financial
• 1:19:28
  system. We know what they'll, what
• 1:19:30
  they'll do, AKA what happened in 2008.
• 1:19:33
  Like if you're holding your money in the banks as retail,
• 1:19:36
  you're not in the club and they will basically, you know, write
• 1:19:40
  you off and you are not going to get any of your savings.
• 1:19:43
  So I am trying to as best as possible keep my options open as
• 1:19:48
  much as possible. And for me, that means just
• 1:19:51
  saving in Bitcoin, just holding Bitcoin, you know, living,
• 1:19:55
  living a normal life and providing you guys value as much
• 1:19:58
  as possible and owning nothing. Except for Bitcoin and being
• 1:20:04
  extremely happy. So look, all of this is like you
• 1:20:07
  can you can right side of the bell curve, all this all you
• 1:20:10
  want. It really boils down to look,
• 1:20:13
  you want to have as much Bitcoin as humanly possible, as much
• 1:20:16
  Bitcoin as you can get your hands on and store.
• 1:20:19
  And you don't want to leave them in 3rd 3rd party custody.
• 1:20:23
  You don't want to leave them on exchanges.
• 1:20:24
  You want to hold those keys in cold storage, preferably air
• 1:20:28
  gapped, you know, backed up because you never know what's
• 1:20:32
  going to happen man, we've seen this throughout history.
• 1:20:35
  We've talked about this constantly governments, all they
• 1:20:38
  want to do is take your money. They'll find whatever ways they
• 1:20:41
  can to take your money. So protect yourself.
• 1:20:44
  This is what it's all about. Protect yourself, be healthy, be
• 1:20:46
  smart. Things are only going to get.
• 1:20:48
  Crazier. Absolutely.
• 1:20:50
  All right, everybody, We still got the culture segment.
• 1:20:52
  We'll be right back in just a SEC.
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  Digital. Tech or at Hive?
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  Digital. Tech.com I want to give a shout
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  All right, everybody, we are back, Opti.
• 1:23:00
  It's been a hell of a run. It's been a hell of a year, bro.
• 1:23:04
  Should we tell everybody about what?
• 1:23:08
  The rebranding, renaming. Renaming.
• 1:23:13
  We're renaming the show. Yeah, yeah.
• 1:23:16
  Well, I'm learning about it. Tell me about it.
• 1:23:20
  Well, ladies and gentlemen, officially we are going to be
• 1:23:21
  known as simply Fiat from now on.
• 1:23:26
  And Yep, we, we got an offer from, from Agustin and, and
• 1:23:30
  Christy Lagarde and, and Opti couldn't resist it.
• 1:23:34
  And he said I did a contract. He signed the contract without
• 1:23:37
  me knowing. And you know, this is, this is
• 1:23:40
  where we are, this is where we are.
• 1:23:41
  It's, it's, it's quite unfortunate.
• 1:23:44
  But Opti, you know, Opti is his own man, and he makes his own.
• 1:23:48
  Decisions. Hey, Nico and Nico, I know
• 1:23:51
  you're trolling here, but bro. And and we did a whole curveball
• 1:23:56
  here. I think the chat's still
• 1:23:59
  freaking out about renting versus buying a house.
• 1:24:01
  So bro why is? This the most.
• 1:24:06
  Controversial topic we've ever brought up.
• 1:24:08
  Because I think it it strikes like we, we did a poll on it
• 1:24:12
  yesterday and it was like, I think sixty 4060% rent 40% by I
• 1:24:16
  think it strikes a chord to people.
• 1:24:20
  So I'll, I'll give you guys an example.
• 1:24:23
  Marty Malti, I'm sorry if I pronounced his name wrong.
• 1:24:27
  One of the first people to like e-mail Satoshi.
• 1:24:30
  I introduced him in Lugano at Plan B tethers Bitcoin
• 1:24:35
  conference in Switzerland. It's fantastic.
• 1:24:36
  Highly recommend you go. And I introduced him.
• 1:24:39
  I didn't know who he was and the name of his panel was my pizza
• 1:24:44
  story and wait. Wait wait, I'm I'm pretty sure
• 1:24:47
  it wasn't pizza. Whatever the Pisa story, I don't
• 1:24:52
  know. And I didn't know who he was,
• 1:24:56
  right. And you know, I introduced him
• 1:24:58
  and I did the whole MC thing and I of course I watched the
• 1:25:03
  presentation. That's what you do.
• 1:25:06
  And I remember he was like, you know, I bought my first flat for
• 1:25:16
  100,000 Bitcoin. Holy snaps.
• 1:25:21
  It's like if I kept that Bitcoin today, I'd be the 100 Ki would
• 1:25:25
  be the 8th richest man in Finland.
• 1:25:27
  He said it just like that. And you speak to some of these
• 1:25:35
  Ogs, them talking about selling 100 Bitcoin to buy, you know,
• 1:25:42
  something or whatever, they always regret it.
• 1:25:46
  They all what you could see it in their face.
• 1:25:48
  They're like, why did I do that? And if you just do the math,
• 1:25:53
  you're like, OK, and, and Jack Mueller's actually made a video
• 1:25:56
  about this the other day. He's like my dream house.
• 1:25:58
  When I got into Bitcoin, it was 100,000 Bitcoin.
• 1:26:02
  Then four years later it was 1000 Bitcoin.
• 1:26:05
  And then four years later it was 100 Bitcoin.
• 1:26:09
  And then four years later it was 100 Bitcoin.
• 1:26:12
  And then four years later it was 10 Bitcoin.
• 1:26:15
  You know, the average home is like for Bitcoin.
• 1:26:18
  What do you think's where do you think it's going to be 4 years
• 1:26:21
  from now? It's not going to be for
• 1:26:23
  Bitcoin. It's probably going to be like
• 1:26:24
  half a Bitcoin, right? So I think that's the lesson
• 1:26:30
  there is, you know, I, you can do whatever you want with your
• 1:26:35
  life because there's something that comes with home ownership
• 1:26:39
  that's psychological, right? You don't have to deal with a
• 1:26:41
  landlord. It's yours, you know, even
• 1:26:47
  though you still have to pay property tax and but there's
• 1:26:51
  something about home ownership that you feel feel good about it
• 1:26:54
  and like the renting aspect, it's like it's not yours, right?
• 1:26:59
  But if you do the math, like it works out, it really does work
• 1:27:05
  out because what are you going to do?
• 1:27:07
  You going to put a lump sum of money into a house, right?
• 1:27:11
  So mortgage into a house. Do the math real quick.
• 1:27:15
  So let's say I'm throwing numbers out here just for the
• 1:27:20
  sake of the conversation, but let's say you want to live in,
• 1:27:25
  in a, in a, you know, 1 million or $2,000,000 home, right?
• 1:27:31
  Who theft has that type of money these days, right?
• 1:27:37
  Probably cost you like 10 grand a month to live in a 1 to
• 1:27:42
  $2,000,000 home. Maybe 5 grand, maybe 7 grand,
• 1:27:45
  right? And then you just do the math,
• 1:27:49
  right? I'm going to do the math real
• 1:27:52
  quick in the background, right? So let's say you're paying $7000
• 1:27:58
  a month in rent. You multiply that by 12.
• 1:28:03
  That's $84,000. Let's say that's a Bitcoin or
• 1:28:08
  less than a Bitcoin. And then you multiply that
• 1:28:12
  84,000 by 4, that's 336,000, that's three Bitcoin.
• 1:28:22
  But over a four year period, right?
• 1:28:25
  Let's say you know, the house is $2,000,000, right?
• 1:28:31
  Divided by, you know, let's say it's, let's use the same price,
• 1:28:35
  84,000, that's 23 Bitcoin. So the 23 Bitcoin multiplied by
• 1:28:44
  84,000, right, is $2,000,000. But in four years, do you think
• 1:28:51
  Bitcoin is going to be at 84,000 or do you think Bitcoin is going
• 1:28:54
  to be at, let's say 4 years from now, 400,300 thousand.
• 1:29:01
  So that 23 Bitcoin multiplied by 400,000 is $9.2 million.
• 1:29:10
  Instead, if you would have rented, it would have cost you 3
• 1:29:14
  Bitcoin. You would have 20 Bitcoin
• 1:29:16
  leftover. And with that 20 Bitcoin and
• 1:29:21
  with a price of what was it, 300,000, you'd have $6 million.
• 1:29:30
  And then with that 20 Bitcoin you would have, it was 400,000,
• 1:29:36
  you would have $8 million. So to live the lifestyle of
• 1:29:42
  living in a $2,000,000 home cost you, you know, and this is not
• 1:29:48
  taking into account income. This is taking into account just
• 1:29:52
  if you use your Bitcoin, because if you're making money and that
• 1:29:56
  money is enough to cover, right, you're not even going into your
• 1:29:59
  Bitcoin stack. That's why as a Bitcoiner, you
• 1:30:03
  kind of have to do the math a little bit differently, right?
• 1:30:06
  You, you literally have to do the math a little bit
• 1:30:09
  differently. Because if you sell your Bitcoin
• 1:30:12
  today to buy that house, 4 years from now, that house is going to
• 1:30:17
  be the the the purchasing power of that Bitcoin is going to be 4
• 1:30:22
  or five times as much. Why would you do that if you can
• 1:30:30
  literally rent that lifestyle? You can rent the exact you can.
• 1:30:34
  You can live in that exact same house without having to buy it.
• 1:30:38
  You can rent it. And here's the thing, and this
• 1:30:41
  is what Balaji was talking about earlier, That's only going to
• 1:30:45
  happen for so long. Eventually, the market figures
• 1:30:48
  things out. The market always figures things
• 1:30:51
  out. Eventually what people are going
• 1:30:53
  to realize is they're going to realize exactly what I'm telling
• 1:30:56
  you right now, that kind of doesn't make sense to buy that
• 1:31:02
  property. If I can just buy Bitcoin, not
• 1:31:05
  have to pay property tax and not have to do maintenance and not
• 1:31:08
  have to deal with tenants, I could just buy it and put it in
• 1:31:12
  self custody. It's going to outperform
• 1:31:14
  everything else. Why would I buy that as an
• 1:31:17
  investment property? That makes absolutely no sense.
• 1:31:20
  And there at that point, you know the market is going to
• 1:31:24
  start to adjust, right? And you're not going to have
• 1:31:27
  that knowledge arbitrage. And you know, there it might
• 1:31:33
  make sense to buy because the renting doesn't make sense
• 1:31:37
  anymore, right? But right now we live in this
• 1:31:40
  maxed maxi Fiat world where housing prices are so inflated
• 1:31:47
  because the money is so broken that it forces rich people to
• 1:31:52
  buy properties just to maintain their purchasing power.
• 1:31:55
  That again, it, it just it, it increases the, the, the cost of
• 1:31:59
  living for everybody. That's what's happening right
• 1:32:02
  now. So I'm going to reference our
• 1:32:05
  boy bit pain. I'm actually going to blow up
• 1:32:07
  his his tweet because his tweet is effing legendary.
• 1:32:14
  And I'm just going to, I'm just going to show it because I think
• 1:32:19
  it's wisdom. Those guys, you know, I love, I
• 1:32:25
  love boomers. By the way, We have so many
• 1:32:28
  great Bitcoin boomers, Gary Leland, Larry La Parde, so many
• 1:32:33
  others. But Payne says, dear boomers, we
• 1:32:37
  can rent and stack Bitcoin longer than you can remain
• 1:32:39
  alive. Either you drop your ask, or
• 1:32:42
  we'll save our bid for your estate sale.
• 1:32:44
  And then I just love this. You know, I love, I love the
• 1:32:49
  responses. Boomers can stay irrational
• 1:32:52
  longer than you can stay solvent.
• 1:32:54
  This makes no sense, John exit replies stack away.
• 1:32:57
  I'm I'm having my home raised upon my death, you entitled
• 1:33:01
  clown. By the way, boomers didn't have
• 1:33:03
  a say just as you don't. We all been played.
• 1:33:06
  Just don't play the victim. Thank you for making my point,
• 1:33:09
  boomer. So again, it's not about a
• 1:33:11
  generational thing or this and this and that.
• 1:33:13
  It's like just play your cards right.
• 1:33:15
  Like think about it like do you think the guy that sold 10,000
• 1:33:20
  Bitcoin for 2P John pizzas? Like what Can you imagine if he
• 1:33:24
  knew it'd be crazy? Anyways, Opti, we've we've had a
• 1:33:30
  a long show today. It's been a fantastic show.
• 1:33:33
  I've enjoyed it. Any final words and thoughts my
• 1:33:36
  friend? Well, I'm still just amazed that
• 1:33:40
  this is such a controversial topic.
• 1:33:42
  Obviously there is no one-size-fits-all for everyone.
• 1:33:46
  I'm sure, you know, you can make a case for anything here, but
• 1:33:51
  the real conversation is just your personal opportunity cost
• 1:33:55
  and what you value, of course, value subjective.
• 1:33:58
  So if you want a home right now and you know that's your
• 1:34:02
  lifelong dream, then obviously, you know, buy the home.
• 1:34:07
  And we're not telling you not to do that.
• 1:34:09
  Now. In a few years, you might be
• 1:34:11
  kicking yourself because of the opportunity cost that you would
• 1:34:14
  have had if you saved in Bitcoin might make that look like a bad
• 1:34:18
  purchase. Now, in my case, you know, I
• 1:34:22
  live in an apartment. I like the fact that I don't
• 1:34:23
  have to take care of anything. I just call someone up, they fix
• 1:34:26
  it. It's I don't, I don't get
• 1:34:27
  charged anything and I'm able to stack sats and it's chill.
• 1:34:31
  You know, I, I get to be mobile. I get to literally pick up where
• 1:34:34
  I am whenever I want and go wherever I want.
• 1:34:37
  That's fine. Where I am at, at my point in my
• 1:34:39
  life. The the TLDR, the short of it
• 1:34:42
  is, guys, you want to be able to save in Bitcoin.
• 1:34:46
  Whatever your personal finances are and whatever your personal
• 1:34:49
  situation is, you need to be saving in Bitcoin.
• 1:34:53
  You need to have a nest egg that is built on Bitcoin so that you
• 1:34:57
  do have that optionality. Now, if you're set and you're
• 1:34:59
  made and you've had your house for a long time, yeah, your
• 1:35:02
  mortgage is probably cheaper than your rent, which probably
• 1:35:05
  means you can stack some Bitcoin.
• 1:35:07
  If you're under what, 39 at this point, you probably can't afford
• 1:35:11
  a house. You probably don't have the
• 1:35:13
  money to put a down payment on a house.
• 1:35:16
  You probably need a loan. I don't know, I'm not here
• 1:35:19
  giving you financial advice. But hey, if you were able to get
• 1:35:24
  a small business loan, probably better off buying Bitcoin here
• 1:35:27
  than a house. But hey, I'm not your financial
• 1:35:30
  advisor. So I just find that this
• 1:35:33
  conversation is, is like, it really felt like a, a non
• 1:35:37
  conversation to us. And then it's become like one of
• 1:35:40
  the biggest hot button topics we've had ever on whether you
• 1:35:44
  should be renting or buying a house.
• 1:35:45
  Like I want to own a house eventually.
• 1:35:48
  Right now all I want to own is Bitcoin.
• 1:35:51
  Amen to that. All right, ladies and gentlemen,
• 1:35:53
  if you guys enjoyed the show, you know to do smash the like
• 1:35:55
  button, consider subscribing. We love you all and we'll see
• 1:35:57
  you tomorrow for a brand new episode of Simply Bitcoin Live.
• 1:36:00
  Take care, everybody. Today's episode was brought to
• 1:36:03
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:36:07
  mission to enable financial independence.
• 1:36:25
  Wait a second, wait a second. We forgot to give and you
• 1:36:28
  brought it back. We forgot to do the giveaway.
• 1:36:32
  We forgot. Yeah, that's funny.
• 1:36:34
  That's so funny. Our stay tuned.
• 1:36:37
  I saw it in the chat and I'm not going to forget.
• 1:36:42
  If you guys are still tuned in, we're going to give away some
• 1:36:46
  sats and I totally forgot. That was my bad.
• 1:36:52
  So let me pull it up. guyscoinwell.com/simply today.
• 1:36:59
  You got 3 tosses into the wishing well and what's awesome
• 1:37:04
  about the wishing wells, you have an opportunity to went up
• 1:37:06
  to 1,000,000 sats every single time.
• 1:37:07
  We're going to be doing a live demonstration for you guys right
• 1:37:10
  now on air. Get your Lightning wallets
• 1:37:12
  ready. First person to scan the QR code
• 1:37:15
  with their Lightning wallets has one 230 sats.
• 1:37:20
  Again, you have to go to bitcoinwell.com/simply sign up.
• 1:37:24
  You got 3 tosses into the Bitcoin wishing well, and every
• 1:37:27
  single toss you have an opportunity to win up to
• 1:37:30
  1,000,000 satoshis. All right, that's the real
• 1:37:32
  ending. I'll see you guys tomorrow.
• 1:37:34
  Brand new episode Simply Bitcoin Live.
• 1:37:36
  Today's episode was brought to you by bitcoinwell.com, a
• 1:37:39
  Bitcoin only platform on a mission to enable financial
• 1:37:42
  independence.