Latest / Simply Bitcoin / Elizabeth Warren's 1% Wealth Tax on Bitcoin Holdings | EP 974

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Elizabeth Warren's 1% Wealth Tax on Bitcoin Holdings | EP 974 · Simply Bitcoin

• 0:03
  It's all going to zero against Bitcoin.
• 0:07
  It's going up forevermore. You're against Bitcoin, you're
• 0:17
  against freedom. Yeah, welcome to another episode
• 0:25
  of simply Bitcoin live. Our number one source for the
• 0:27
  peaceful Bitcoin revolution covering news culture matic
• 0:29
  warfare will be your guide through the separation of money
• 0:31
  and state. Ladies and gentlemen, welcome to
• 0:33
  welcome to simply Bitcoin, the most watched daily Bitcoin live
• 0:35
  show on YouTube Rumble an X well, kind of an interesting
• 0:39
  weekend. And the reason I'm saying that
• 0:42
  first of all, holy cow, the the having live stream was insane.
• 0:46
  I can't believe I got to be a part of that.
• 0:48
  So shout outs shout out to our friends over at B Mag.
• 0:52
  That was interesting on Friday we're in the 5th epoch.
• 0:55
  This is the first show first simply Bitcoin show of the 5th
• 0:59
  epoch. I think things are going to get
• 1:00
  wild from here. This is the supply shock all the
• 1:04
  things that are coming with it. But today we want to talk about
• 1:07
  specifically the clown world. And clown world is accelerating,
• 1:11
  Fiat world is accelerating. And there is this interesting
• 1:13
  post that was going viral all over Twitter.
• 1:17
  And it came out that that post wasn't real, but it read, it was
• 1:22
  so real. And it was basically a letter to
• 1:24
  President Biden. And Elizabeth Warren was asking
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  President Biden to have a 1% wealth tax on Bitcoin.
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  And every single transaction or basically if anyone had over
• 1:35
  $1000 worth of quote, UN quote, Bitcoin, they would have to
• 1:39
  report it to the IRS. Now, the reason that it went so
• 1:41
  viral is because it was so believable #1 and #2 a lot of
• 1:46
  people are going to be saying, I, I, I know it.
• 1:47
  Like, why are we going to talk about it?
• 1:49
  You know, if it's unbelievable. But I think it's kind of like a
• 1:52
  foreshadowing of what's to come in the next 5 to 10 years.
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  As governments continue to lose the ability to create money for
• 2:02
  free that everyone else has to work for.
• 2:04
  As more and more people choose to opt out of that system, As
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  the, as the system continues to degrade, not because of the
• 2:12
  people's actions, the citizens actions, but because of their
• 2:14
  own actions. Now, I, I do want to talk about
• 2:18
  a video that was real and it was a video of the $60 billion
• 2:24
  funding bill being passed in the House and it's being passed.
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  It's going to be passed in the Senate.
• 2:29
  It's going to be signed into law.
• 2:30
  They're sending another $60 billion to Ukraine.
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  Now, what was really interesting about that bill was that
• 2:37
  literally politicians were cheering and they were waving A
• 2:42
  Ukrainian flag in the US Senate. And if you think about what that
• 2:48
  represents, you have the people that supposedly represent you,
• 2:52
  supposedly, you know, they're supposed to represent you in
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  Washington. They're cheering on sending $60
• 3:00
  billion to a foreign country funding another forever war,
• 3:04
  another foreign war, while everyday Americans are still
• 3:08
  feeling the ravages of inflation, which are caused by
• 3:13
  the money printing, which they have to do in order to pay for
• 3:18
  the deficit spending. Because the US government is
• 3:20
  spending more money than it collects in tax revenue year
• 3:24
  after year. And the way that they're able to
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  pay for that is through printing the difference.
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  And here you have politicians once again agreeing to pay for
• 3:34
  something that we cannot afford. And then I'm going to connect
• 3:39
  that with what the F happened in 1971.
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  The fact that productivity has gone through the roof, but
• 3:45
  compensation has really stayed the same.
• 3:47
  Now, what was really interesting in this quote, UN quote supposed
• 3:52
  letter to the present by Elizabeth Warren is that she
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  mentions inequality. And that's something that's a
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  talking point that you hear all the time that there's this crazy
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  inequality and we need government wealth redistribution
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  in order to fix that crazy wealth inequality.
• 4:08
  You know what the main catalyst of wealth inequality is printing
• 4:12
  money because it's the lower and middle classes that don't have
• 4:16
  the means to save an assets. Therefore, they don't benefit
• 4:19
  from asset inflation every time Jerome Prowell presses the P
• 4:23
  button. And it's a wealth or
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  distribution back to the government and back to the very
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  wealthy that do have the means to save an assets.
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  So every time they go on a money printing binge, their assets go
• 4:37
  up. And it's not necessarily because
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  it's not necessarily because the price of or the purchasing power
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  or the actual value of those assets going up.
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  It's just it's, it's a representation of how much money
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  they're printing, right? So the poor are getting poorer
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  and the rich are getting richer not because of capitalism, but
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  because they're printing an excessive amount of money.
• 4:58
  So that's what I want to cover today because I think that this
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  letter, the supposed letter that, you know, some people are
• 5:05
  saying is not real. I think it's a foreshadowing of
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  what's to come the next 5 to 10 years.
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  I think we already saw this in, I believe it was Nigeria where
• 5:16
  they started blaming finance for people choosing to opt out of
• 5:22
  the local Fiat currency, the naira, And they were literally
• 5:26
  putting out arrest warrants for executives of Binance.
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  Instead of them being like, OK, guys, like we're just printing a
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  lot record amount of money and that's what's causing inflation.
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  They're like, no, no, no, no, no.
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  It has to be, you know, the facilitators of, of people
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  trying to, you know, achieve some level of sovereignty of,
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  of, of, of having the ability to opt out in the first place has
• 5:47
  to be them. It can't be us.
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  So again, I, I think that this is all predictable.
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  I think, you know, This is why this, this, this letter
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  resonated with a lot of people, even if, even if it turns out
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  not to be real. So anyways, we have a lot to
• 6:04
  talk about today. Great show.
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  First episode of the 5th epoch baby.
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  I'm incredibly good. And of course, you know who's
• 6:12
  also excited? It's in his name.
• 6:15
  They don't call him Optimus Fields for no reason.
• 6:18
  We got Nihilus Fields in the house.
• 6:19
  What's up? Well, I was going to give the
• 6:23
  horns for first episode of the new epoch, but you know, Nihilus
• 6:27
  fields in the house, so I got to give the horns.
• 6:29
  Man, I'm doing wonderful. I, I, I was telling our guests
• 6:32
  and I'll bring them in in one minute.
• 6:34
  You know, I, I tried to sleep in this weekend or today and then,
• 6:37
  but I, I, I was, wasn't feeling good.
• 6:39
  My coffee ain't hitting as hard as it used to.
• 6:41
  So I need some stronger coffee out here, but it feels good.
• 6:45
  I I get I get so excited when you come on the stream.
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  It's like revitalizing. It's here we are.
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  This is what we're meant to be doing, Nico.
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  And then I want to touch on one thing, and I'll probably say
• 6:53
  this again when we cover this on the news.
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  And I was telling our guests the same thing before we went live
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  that you you can't even separate clown world from satire at this
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  point because it's all clown world like it.
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  Remember when the Babylon Bee was ridiculous?
• 7:08
  And now we are seeing the Babylon Bee literally become
• 7:10
  like. This.
• 7:12
  News story. They, they, they lost their
• 7:14
  edge, bro, you know, corporate press is doing a better job than
• 7:17
  the Babylon Bee out here. So what a crazy, crazy time to
• 7:21
  be alive. And hey man, we've entered the
• 7:23
  5th epoch. Or someone was saying it was
• 7:25
  epoch, but I I like epoch. Epoch sounds better.
• 7:28
  It sounds better. The epochs aren't.
• 7:31
  Epoch. But man, it feels so good, you
• 7:35
  know, and also like some cheap sets out there for everyone,
• 7:37
  stacking sets. So man, it is gonna be a great
• 7:41
  four years moving forward. And also, you know, shouts out
• 7:44
  to that B Mag stream. That having stream was actually
• 7:47
  very, very good. They did an incredible job.
• 7:49
  Even though they cut Nico and Jack Mahlers off, I think
• 7:52
  everyone wanted to hear that conversation.
• 7:54
  And the funniest part is like Nico's Hey guys, come back here,
• 7:57
  come back here like I. Was like, I was like, bro, I
• 8:00
  feel bad for the guy, you know, He was like, I teed him up with
• 8:03
  this great question. He was about to go into it and
• 8:06
  they just and I was like hey guys could you get it back?
• 8:08
  But anyways anyway so I saw someone mention optis Taco
• 8:13
  feeder so sat from lightning goats.
• 8:15
  We have talked about this internally.
• 8:19
  It only feeds Nico and we have to trust the Hosher.
• 8:22
  That's hilarious. But yes, so in regards to Opti's
• 8:24
  Taco feeder, so we have talked about it.
• 8:27
  We have an idea in our hands. And how we want it.
• 8:30
  You can't even say your actual idea on air, Nico.
• 8:32
  This the family friendly show No, this is a family friendly
• 8:35
  restaurant. This is a.
• 8:36
  Family friendly idea, bro. OK, so anyways, we also have a
• 8:40
  very special guest. Hey, we have Mitchell Hoddle.
• 8:43
  Mitchell Hoddle, you're the you wrote the book the Conservative
• 8:46
  Case for Bitcoin. Is that correct?
• 8:48
  Yes Sir, published about 3 weeks ago on April 4th and you can get
• 8:53
  your copy on Amazon for the wonderful price of $17.76.
• 8:58
  Oh, OK, so you go to Amazon right now, you search the
• 9:01
  conservative case for Bitcoin and it's and it's you said it's
• 9:04
  live right now. When is it dropping?
• 9:06
  Yeah, it's live right now. You can order your copy and it
• 9:08
  should be there within a day or two.
• 9:10
  So why should people buy this book?
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  Because I personally, I grew up in the South, I know a ton of
• 9:17
  conservatives and I've always tried to orange peel them, you
• 9:19
  know, people like my dad or just people I grew up around that
• 9:22
  are, you know, very right wing. And to me, Bitcoin is like very
• 9:26
  obvious from that world view. But Bitcoin is very paradigm
• 9:31
  shifting, right? It's hard to sort of break out
• 9:34
  of like your pre-existing world view necessarily.
• 9:37
  And so people, when they are going through, you know, Barnes
• 9:40
  and Noble or whatever, and they're looking at at books on
• 9:42
  the shelf and they see the Bitcoin standard and they see
• 9:45
  the conservative case for Bitcoin, they're probably going
• 9:47
  to pick up the one that appeals to their pre-existing world view
• 9:51
  right now. I'm not saying my book is better
• 9:53
  than the Bitcoin standard. In fact, I would rather than
• 9:55
  read that honestly, because that that's like it hits, you know, I
• 9:58
  safety did a great job with that book, but people are going to
• 10:01
  pick up one that appeals to what they already believe.
• 10:03
  And so with my book, I really try to tailor the arguments and
• 10:07
  in the framing of Bitcoin in a lens that appeals to
• 10:10
  conservatives. So I appeal a lot to the core
• 10:12
  American values of of property rights and freedom of speech.
• 10:16
  And you know, our rights don't come from government.
• 10:18
  They don't even come from the Constitution necessarily.
• 10:21
  They come from God. And I make a lot of cases in the
• 10:23
  book is why Bitcoin really fits with those those core values of
• 10:27
  America A. 100% I would even go on a limb and I would say that
• 10:31
  the original how the founders originally envisioned America
• 10:36
  wouldn't be possible unless it was on some type of sound money
• 10:40
  standard. I think that as long as there's
• 10:43
  a central entity, I think is the keyword that is able to just,
• 10:48
  you know, create money out of thin air, you can make the
• 10:51
  argument that any country that has a central bank is 50%
• 10:54
  communist. You can.
• 10:55
  You can make a really good argument for that starting off
• 10:58
  with the fire. It is Monday.
• 10:59
  Wow, dropping the actual C word on YouTube.
• 11:03
  Sheesh. You know you can tell there's.
• 11:05
  A new epoch. You can tell there's a new
• 11:07
  epoch. I I meant to say collectionist.
• 11:09
  I meant to say collectivist. But wait, before we move on,
• 11:12
  though, I do, I, I do have to give a shout out to Mitchell as
• 11:16
  being a Bitcoin zoomer. The zoomer's built different out
• 11:19
  here. For real.
• 11:20
  For real. Just love to see it.
• 11:21
  I, I, I, Yeah. Bet For real.
• 11:23
  No. Yeah.
• 11:24
  We're taking over. We're standing on business,
• 11:26
  we're popping zans. We're here, you know, you can't
• 11:28
  get rid of us this. Is gonna be a great.
• 11:33
  Show man the zoomers dropping hot fire.
• 11:35
  Anyways guys if you're enjoying the show so far, hit the smash
• 11:38
  hit the like button. We're at 60 like 60 likes.
• 11:42
  Help us break 100 likes within the 1st 20 minutes of the show.
• 11:45
  So if you guys are enjoying the content so far on Rumble,
• 11:48
  YouTube or X, all you gotta do is smash the like button.
• 11:51
  Anyways, before we jump into it, I do want to give a very, very
• 11:56
  extremely special shout out to the Bitcoin company that powers
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  some numbers. We have a lot to talk about
• 13:13
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• 14:28
  Looks like the Clark Moody dashboard got an update for the
• 14:31
  halving look. Look at this Opti.
• 14:33
  Looks so clean. Yeah, so fresh.
• 14:34
  I had to redo my favorites and stuff.
• 14:36
  Bud, zoom in, dude. It's it's super small.
• 14:38
  I can't read that. It is so clean.
• 14:40
  Now look at these beautiful numbers.
• 14:42
  All right, let's start with the Bitcoin price. 66,130 stats per
• 14:47
  dollar 1512 market cap 1.3 trillion all time high price
• 14:54
  73,770 declined from an all time high 10% all time high date
• 14:59
  March 14th 2024 day since all time high.
• 15:02
  It's only been 39 days, but it feels like an alternative.
• 15:06
  The block height is 840,364. The chain size is 643 gigabytes
• 15:15
  and the next the target retake. No, it already happened man.
• 15:20
  They haven't updated that. Yeah, Nico, do do do how many
• 15:25
  blocks do do how many blocks till the next halving you.
• 15:30
  Know the next halving estimate is March 19th, 2028.
• 15:35
  There's 209,636 blocks blocks to the next halving.
• 15:43
  So it's quite a bit. It's quite a bit away.
• 15:45
  Anyways, I really like the redesign, kind of caught me off
• 15:48
  guard a little bit. Looks pretty cool.
• 15:50
  Anyways, yes guys, so current Bitcoin price is 66,110.
• 15:56
  So anyways, I didn't want to talk about this and I want to
• 16:00
  preface what we're going to talk about today with this quote from
• 16:05
  Frederick Frederick Bassiat. And shout out to Stacey Herbert
• 16:09
  because she's the one that originally caught my eye to this
• 16:13
  quote. And I think it's a perfect
• 16:15
  representation of what's going on in today's America, right?
• 16:19
  And there's been a lot of events over the last five, five years
• 16:24
  or so that I think indicate this, right?
• 16:28
  You know, the continued acceleration of Clown World, the
• 16:31
  continuing calls for censorship, the continued seizure,
• 16:35
  demonization of private property.
• 16:38
  And I think this quote perfectly summarizes why this is
• 16:43
  happening, why the elites or the people in power, the, you know,
• 16:48
  the political class are OK with this type of behavior.
• 16:51
  They're OK with this, with this theft happening on a local
• 16:55
  level, with this theft happening on, you know, on a large scale
• 16:59
  level. Why?
• 16:59
  Why are they OK with this? And I think this quote perfectly
• 17:03
  summarizes it. So it goes on quote, When
• 17:07
  plunder becomes a way of life for a group of men in a society,
• 17:10
  over the course of time, they themselves create a legal system
• 17:15
  that authorizes it and a moral code that glorifies it.
• 17:20
  And I think that this video is a great representation of what
• 17:27
  that quote is talking about. And here you literally have
• 17:31
  politicians waving a foreign flag in the US House of
• 17:38
  Representatives celebrating sending another $60 billion to
• 17:45
  fund a foreign war. So they're celebrating sending
• 17:50
  money so that people can kill themselves.
• 17:54
  And this reminds me of the Ron Paul quote.
• 17:57
  It's not a coincidence that the bloodiest century in human
• 18:01
  history was also of the century of central banking.
• 18:06
  Fiat enables war. I would even go on to say Fiat
• 18:10
  incentivizes war. Bitcoin de funds war.
• 18:15
  Bitcoin de incentivizes war. It's a lot harder for
• 18:21
  politicians to fund a war when their only source of revenues
• 18:26
  direct taxation. I don't think people would be OK
• 18:31
  with the with funding the war in Ukraine if they actually knew
• 18:37
  the cost of that war, if they actually knew that they were
• 18:40
  paying for it. Because when they print money,
• 18:43
  it isn't free. They're debasing the currency
• 18:49
  that you're working for. If you're an American, or
• 18:52
  anywhere around the world really, 'cause everywhere around
• 18:54
  the world that probably that your central bank in your
• 18:57
  country holds dollars. This is why they freaked the F
• 19:00
  out when El Salvador made Bitcoin legal tender.
• 19:03
  Because they they came to this inevitable conclusion that holy
• 19:06
  cow, El Salvador has a shot of using an alternative of which we
• 19:12
  can't control. This is crazy.
• 19:15
  That's why they were so hell bent on it.
• 19:16
  That's why the same House of Representatives opened an
• 19:19
  investigation into El Salvador. Because they made Bitcoin legal
• 19:23
  tender. Because Bitcoin is a clear and
• 19:26
  present danger to this system. What they're really celebrating
• 19:31
  is that they're going to make boatloads of money off funding
• 19:35
  another foreign war. This is why Julian Assange is
• 19:39
  still in jail. This is what it's about.
• 19:45
  Separate money and state or this won't change.
• 19:48
  In fact, I'll say this, this not only won't change, this could
• 19:52
  lead to potential Armageddon, which is the scariest shit.
• 19:59
  So you know when I say Bitcoin or slavery, this is slavery,
• 20:05
  this is war, this is nihilism, this is poverty.
• 20:08
  What is the alternative? This is ridiculous.
• 20:11
  This is disgusting. I can't even that.
• 20:13
  When I saw this, I was, I was so tired.
• 20:16
  I was like getting on a plane. My flight got delayed like 6
• 20:19
  hours and I saw this and I and I was like, I usually don't tweet
• 20:22
  when I'm tired. I'm like, I just want to kind
• 20:23
  of. You know, zoom out and like
• 20:25
  listen to like, you know, just like the white noise music on
• 20:28
  your noise cancelling headphones.
• 20:30
  And I saw this and I had to tweet it out.
• 20:31
  I was like, this is absolutely disgusting.
• 20:34
  And by the way, this is not a partisan.
• 20:36
  This is not a partisan issue because both Democrats and
• 20:41
  Republicans voted to pass this. So anyways, now this leads me to
• 20:50
  another tweet. Here's Bob Burnett.
• 20:51
  Bob Burnett is the CEO and founder of Barefoot Mining.
• 20:54
  And here's Steven Luka. Steven Luka is a managing
• 20:56
  director at Swan Private. Anyways, I thought this was
• 20:59
  interesting, says Steven. Lipka says the US has officially
• 21:03
  voted to transfer frozen Russian assets to Ukraine.
• 21:07
  This is a major blow to the willingness of foreign countries
• 21:11
  to hold U.S. Treasuries.
• 21:14
  Bob Burnett says this message the the message this sends to
• 21:17
  the world is horrible. This will come back to haunt the
• 21:20
  US, at least those that believe that the global reserve currency
• 21:24
  is a good thing for the US. The move will eventually will
• 21:28
  eventually recognize to be an inflection point in the downfall
• 21:31
  of the US dollar. That's right.
• 21:33
  When politicians start politicizing the dollar, they
• 21:36
  start weaponizing the dollar for their own political means.
• 21:40
  You know, I don't think things end very well.
• 21:42
  Anyways, this leads me to the apparent fake letter.
• 21:46
  A lot of people on Twitter are saying this is fake.
• 21:49
  Initially it was going around that this was real, but it was
• 21:52
  very convincing and take it with a grain of salt in terms of the
• 21:57
  of the authenticity of the letter.
• 21:59
  But I still believe it's a great, it's a great warning.
• 22:04
  It's a great potential foreshadowing of what's to come.
• 22:09
  And I'll get to why I believe that is in a second.
• 22:12
  And the reason that this went viral and viral in the 1st place
• 22:16
  was because it was so believable.
• 22:18
  Remember Elizabeth Warren used the fake Wall Street Journal
• 22:22
  article to put pressure on the treasury and to put pressure on
• 22:26
  the fence end to pass more hostile anti Bitcoin regulation.
• 22:31
  She currently has a bill in the US Senate which 20 senators are
• 22:35
  supporting, which would be Pierre Richard's own words, VP
• 22:40
  of research at Riot mining. Not my words.
• 22:43
  It would be a de facto ban on Bitcoin mining in the United
• 22:46
  States. So don't question the hostility
• 22:49
  of Senator Warren towards Bitcoin.
• 22:52
  And remember this was Cynthia Lummis that said this at the
• 22:55
  Bitcoin Policy Institute summit. Shout out David Zell and Bitcoin
• 22:58
  Mag for covering it. Cynthia Luna said it herself
• 23:02
  that there's politicians in DC that don't like Bitcoin because
• 23:06
  they cannot control it. They cannot control it.
• 23:11
  And what happens when a big portion of your population
• 23:16
  starts opting out of your political money?
• 23:19
  Well then the party ends. Then they won't be waving
• 23:23
  Ukrainian flags in in the Senate, right?
• 23:28
  And if you are to believe the theory from the sovereign
• 23:30
  individual, eventually over a long period of time, the
• 23:34
  Internet and Bitcoin make politics irrelevant.
• 23:38
  What happens if you start to become too tyrannical against
• 23:43
  individuals and businesses? You start raising the tax rates
• 23:46
  through the roof, what happens? You're going to see a massive
• 23:49
  flight of people leave your country.
• 23:52
  We saw a glimpse of that when the pandemic was happening.
• 23:57
  And there are certain types of laws that were passed.
• 23:59
  There is a huge migration of people from the text from the
• 24:02
  states of California and and New York to the states of Florida
• 24:06
  and Texas, which were more liberating, had more freedom,
• 24:10
  right? There's a reason that, you know,
• 24:13
  people, people were going from East Berlin to West Berlin.
• 24:17
  They weren't going backwards. They were going towards the side
• 24:19
  of freedom. There's a reason as to why, you
• 24:22
  know, Cubans, I live in Miami, I live in Florida.
• 24:24
  Cubans are willing to risk their lives, get themselves on a raft
• 24:27
  and, you know, hopefully land in Florida in the search of
• 24:31
  freedom, right? I think humans naturally want
• 24:33
  freedom, and I think anyone who's an enemy of freedom is
• 24:37
  inherently an enemy of Bitcoin. But the beauty of Bitcoin is
• 24:41
  that it exposes incentives. So over time, if you're a, you
• 24:46
  know, if you're a tyrannical government or if you're a
• 24:48
  dictator and you don't want your people to be free, eventually
• 24:54
  you're going to go after Bitcoin, right?
• 24:56
  So it's like, you know, the Canary in the coal mine type of
• 24:58
  thing. Anyways, I do want to read you
• 25:00
  this this letter because again, I think it's a foreshadowing.
• 25:04
  I think it's a warning. But just to be clear for
• 25:07
  everyone, this letter has not BeenVerified.
• 25:10
  Anyways, it goes on to say this is an apparent letter that was
• 25:13
  written April 21st, 2024 from Elizabeth Warren to President
• 25:18
  Joe Biden says I am writing to introduce the Cryptocurrency
• 25:21
  Reporting and Wealth Tax Act, a legislative proposal aimed at
• 25:25
  addressing the challenges posed by the growing use of
• 25:28
  cryptocurrency assets and addressing wealth inequality in
• 25:31
  our country. As you are well aware, the rise
• 25:34
  of cryptocurrencies has presented both opportunities and
• 25:36
  challenges for our financial system.
• 25:38
  While these digital assets offer innovative solutions and
• 25:41
  investment opportunities, they also present significant
• 25:45
  regulatory and tax enforcement challenges.
• 25:48
  As such, it is impairment imperative that we establish
• 25:52
  clear guidelines and reporting requirements to ensure
• 25:55
  transparency and accountability in the use of cryptocurrencies.
• 25:59
  Under the proposed legislation, individuals, trust, and entities
• 26:03
  holding cryptocurrency assets with a value exceeding $1000
• 26:07
  would be required to report such holdings to the IRS annually.
• 26:11
  This reporting requirement aims to provide the IRS with the
• 26:14
  necessary information to effectively monitor and enforce
• 26:17
  tax compliance in the cryptocurrency space.
• 26:20
  Furthermore, the bill proposes the imposition of a 1% wealth
• 26:24
  tax on cryptocurrency holdings exceeding $500,000 for
• 26:28
  individuals, trust, and entities.
• 26:30
  The wealth tax is intended to address the growing wealth
• 26:33
  inequality in our country by ensuring that those who hold
• 26:36
  significant wealth in the form of cryptocurrencies contribute
• 26:40
  their fair share to support vital public services and
• 26:42
  investments. I firmly believe that this
• 26:45
  legislation strikes the right balance between fostering
• 26:47
  innovation in the cryptocurrency space and ensuring that our tax
• 26:51
  system remains fair and equitable for all Americans.
• 26:54
  By implementing mandatory reporting requirements and a
• 26:56
  modest wealth tax on large cryptocurrency holdings, we can
• 26:59
  ensure that our tax system remains responsive to the
• 27:02
  changing nature of wealth and income in the digital age.
• 27:05
  I urge you to support the Cryptocurrency Reporting and
• 27:07
  Wealth Tax Act and join me in addressing these critical issues
• 27:11
  facing our financial system and economy.
• 27:13
  Thank you for your attention on this matter and I look forward
• 27:15
  to your support. Now, I just want to mention that
• 27:18
  Elizabeth Warren is spelt wrong here, Senator Elizabeth Warren.
• 27:22
  So even if this letter is not true, even if it turned out to
• 27:25
  be bogus, I think part of the reason that it was so popular is
• 27:30
  because this is something that I think we're already starting to
• 27:33
  hear inklings of, right? We've already heard Janet Yellen
• 27:37
  talk about a, you know, a proposed wealth tax on the very
• 27:42
  wealthy. You heard AOC talk about this in
• 27:44
  Canada. They just changed the capital
• 27:46
  law of the, the income, the, wow, I'm forgetting the word,
• 27:51
  holy cow, the capital gains law, the they increased the tax rate
• 27:55
  from 50% to 67%. So you take all the risk and the
• 28:02
  government takes 60% of 67% of the game after it's above a a
• 28:07
  certain threshold. Like that is absolutely bonkers.
• 28:11
  And let's point out some things that are are that are true,
• 28:14
  right? Here is the US individual income
• 28:17
  tax return form of 2023. And take a look at what's at the
• 28:22
  very top under filing status. It literally starts with digital
• 28:27
  assets. At any time during 20/20/2023,
• 28:31
  did you receive sell digital assets, yes or no?
• 28:36
  It literally starts with that, right?
• 28:39
  So again, is it too inconceivable?
• 28:42
  Is it too difficult to believe that we won't have politicians
• 28:47
  introducing some type of BS like that so that they can keep
• 28:53
  parting like this? Is that too inconceivable?
• 28:56
  I don't think so. Anyways, so I do want to read
• 29:00
  part of this because I think it really kind of nails where I
• 29:04
  think we're going in the new Millennium.
• 29:07
  Cyber money controlled by private markets will supersede
• 29:10
  Fiat, Fiat money issued by governments.
• 29:12
  The authors have also predicted that with the rise of this new
• 29:15
  cyberspace and consequently cyber money, it will become
• 29:18
  harder for a nation state to collect taxes from its citizens.
• 29:21
  They compare the state to a farmer keeping cows in a field
• 29:25
  to be milked. But that quote, soon the cows
• 29:27
  will have wings. They predict that the government
• 29:31
  to collect taxes from its citizens in this type of
• 29:33
  society, it would have to violate human rights.
• 29:36
  Even traditionally civil countries will have to resort
• 29:40
  have to resort and turn nasty. Lacking their custom scope to
• 29:44
  tax and inflate, governments even in traditionally civil
• 29:47
  countries will turn nasty. Businesses that offer services
• 29:50
  that facilitate the realization of autonomy by individuals will
• 29:53
  be subject to infiltration, sabotage, and disruption.
• 29:56
  Arbitrary forfeiture of property, already commonplace in
• 29:58
  the United States, where it occurs 5000 times a week, will
• 30:01
  become even more pervasive. Governments will violate human
• 30:04
  rights, censor the free flow of information, sabotage useful
• 30:07
  technologies, and more. I mean, does that sound familiar
• 30:12
  to you? Here is Alex Gladstein posting a
• 30:17
  screenshot of the American Pravda, The New York Times.
• 30:22
  And the name of the article is Government surveillance keeps us
• 30:25
  safe, right? This is, you know, you've heard
• 30:28
  these types of headlines from the New York Times before.
• 30:31
  You've heard there is no inflation.
• 30:33
  Actually, inflation is good for you.
• 30:36
  This is the same New York Times that the intelligence agencies
• 30:39
  used in the 2000s to convince the American public that I that
• 30:43
  Iraq had weapons of mass destruction that led to the Iraq
• 30:46
  war. This is the same New York Times
• 30:50
  that attacked Bitcoin mining and doctored a picture to make it
• 30:54
  look like the skies over a Bitcoin mine were somehow
• 30:57
  polluted. Even though Bitcoin miners emit
• 31:01
  no emissions. They literally just emit hot
• 31:03
  air, right? So this is the same New York
• 31:06
  Times. Government surveillance keeps us
• 31:08
  safe. I don't think this is a
• 31:09
  coincidence that this type of article was released, you know,
• 31:13
  after the the FISA law was passed, right?
• 31:17
  Allowing the continued surveillance of U.S. citizens,
• 31:22
  circumventing the 4th amendment, right?
• 31:24
  So anyways, interesting to say the least.
• 31:26
  Now let's talk about the, the national deficit, something that
• 31:30
  we love to talk about on simply Bitcoin, right?
• 31:33
  And you always hear politicians talk about, you know, their fair
• 31:37
  share and taxing and wealth inequality.
• 31:41
  And we always hear about these things.
• 31:42
  So it's like a, a, a continuing theme that we always hear.
• 31:46
  Well, here's the reality. OK, the US government spent
• 31:50
  $6.13 trillion in 2023. They only collected $4.4
• 31:57
  trillion in tax revenue. They spent 1.7 trillion.
• 32:01
  That's more than the GDP of more countries.
• 32:04
  Just to kind of give you an idea, the GDP of El Salvador is
• 32:07
  32 billion. The US spent $1.7 trillion more
• 32:15
  than it collected in tax revenue.
• 32:18
  So when politicians talk about taxation and they talk about
• 32:20
  this, the US government doesn't have a tax revenue problem.
• 32:25
  It has a massive spending problem.
• 32:30
  And this has consequences. This is taking, this is
• 32:33
  borrowing from your children's future.
• 32:35
  If they're not on a Bitcoin standard, if they are on a
• 32:37
  Bitcoin standard, like, OK, but yeah, you want to know why
• 32:42
  things are getting heated. You don't want to know why the
• 32:43
  political atmosphere is the way it is.
• 32:45
  This is why and there are consequences to this.
• 32:48
  I love referencing this site. It's called What the F happened
• 32:52
  in 1971 and you'll start to notice a pattern as I go as I go
• 32:57
  down these graphs. In 1971 compared to today, the
• 33:02
  compensation went from 90.84%. It rose to 115% even though
• 33:08
  productivity increased 246%. It's almost as if compensation
• 33:12
  stayed the same again. Real median weekly earnings of
• 33:16
  full time workers. It's basically stayed the same
• 33:19
  since 1971. Why has housing become so
• 33:22
  expensive? Remember housing prices?
• 33:26
  Maybe some of you guys are too young, but it was a lot easier
• 33:30
  to buy a house back then. Income gains widely shared in
• 33:33
  early post war decades, but not since then.
• 33:37
  The 95th percentile all the way up the 20th percentile kind of
• 33:42
  going sideways. And you have to ask yourself
• 33:44
  why? Well, I mentioned it in the very
• 33:46
  beginning of the show because every time they print money,
• 33:49
  it's a wealth redistribution mechanism from the lower and
• 33:52
  middle classes that don't have the means to save in assets to
• 33:56
  the people that do have the means to save in assets and back
• 33:59
  to the government. That is the real scam that is
• 34:01
  happening. Income growth.
• 34:03
  Bottom 90% of owner of earners sideways, top 1% of own earners
• 34:10
  upwards share of gross domestic income relentless 50 year
• 34:16
  decline in wages, share of the economy's total income income
• 34:21
  share of top 1% relative to the bottom, bottom 90%.
• 34:25
  And it just keeps going. You guys want to find out more,
• 34:28
  go to what the F happened in 1971.
• 34:30
  So, OK, all of that being said, right, because we covered a lot
• 34:34
  of things here. When you have politicians
• 34:40
  celebrating people killing themselves, funding war, funding
• 34:47
  churn, funding younger people fighting, right you, that's what
• 34:52
  they're celebrating. But at the same time you have
• 34:55
  people having drug issues on the street, you have people that
• 34:58
  can't afford housing. Something is wrong.
• 35:01
  Something is really, really wrong.
• 35:05
  And what can you do? What can you do?
• 35:07
  Because you can watch this and you're like, OK, I, I like like,
• 35:11
  I don't, I don't know. I don't know how to maybe I
• 35:13
  don't have faith in the elections, maybe I don't, I
• 35:15
  don't see things changing. Well, there is something that
• 35:19
  you can do as an individual, buy Bitcoin, earn Bitcoin, mine
• 35:24
  Bitcoin, put that Bitcoin into self custody.
• 35:27
  If enough of us do it, we will win.
• 35:29
  We will actually effectuate change peacefully.
• 35:33
  We will actually change the system without any type of
• 35:37
  violence or coercion. It's like a forcing function.
• 35:44
  And if they don't want to go away, if they don't want to go
• 35:46
  along with it, the people that do have Bitcoin, you know what
• 35:50
  we do? We get up and leave to a place
• 35:53
  that does simply Bitcoin live from El Salvador.
• 35:57
  It's like that. But you have to empower
• 36:01
  yourself. You have to become a sovereign
• 36:04
  individual. How do you become a sovereign
• 36:07
  individual? Do your own research.
• 36:08
  Number one, do your own research.
• 36:13
  Go on Oster, go on Twitter. Form your own thoughts.
• 36:17
  Stop relying on a third party to force feed you information and
• 36:21
  #2 use your own money. Use the money that another man
• 36:28
  can't just create out of thin air.
• 36:30
  Use the money that a man cannot just confiscate at the flick of
• 36:33
  a switch. Become a sovereign individual.
• 36:37
  And if enough people become sovereign individuals, if enough
• 36:40
  people stop depending on a government that has failed them
• 36:44
  time and time and time again, on a government that has failed,
• 36:47
  that has sent them to their deaths many time throughout the
• 36:51
  last century, I think things are going to change.
• 36:55
  But what is the definition of insanity?
• 36:57
  I forget trying the same thing and expecting different results,
• 37:01
  right. I think if we keep heading down
• 37:05
  that path, I, I, I don't like the future, I don't like the way
• 37:09
  it looks right now, and that's why I'm choosing to opt out
• 37:13
  entirely. That's why I'm choosing to say,
• 37:14
  you know what, enough's enough. You, you guys can have fun
• 37:18
  waving your little fake, you know, flags and celebrating, you
• 37:22
  know, a, a turn house. Basically, I'm, I, I know what I
• 37:26
  want for my children. It's definitely none of that.
• 37:28
  You guys could keep that. I'm OK with it.
• 37:30
  Anyways, I want to get your guys takes on this.
• 37:33
  I'm going to start with the zoomer because you know what,
• 37:36
  I'm a little bit upset about all of this and I'm a millennial
• 37:40
  man. But you have a little bit, you
• 37:42
  have a, you have like a like a decade or two decade or two of
• 37:45
  more life than I do because you're significantly younger
• 37:48
  than I am. So how do you feel about this
• 37:50
  man? What were your reaction when you
• 37:52
  see politicians cheering another foreign war that has absolutely
• 37:56
  no net benefit to your life whatsoever?
• 38:00
  Well, Niko, you were just spitting there.
• 38:03
  Hats off to you. You.
• 38:04
  You really hit a lot of great points to me.
• 38:06
  It, it gets my blood boiling a little bit.
• 38:09
  There's zero reason any politician should be waving a
• 38:12
  flag other than the American flag on the Senate floor.
• 38:15
  Absolutely no reason. And the American Revolution, you
• 38:18
  know, the infamous Boston Tea Heart Tea Party event where they
• 38:23
  threw the tea in the harbor as a form of protest, that happened
• 38:26
  over a 3% tea tax. And when you look at taxes
• 38:30
  today, right, you've got basically a 7% inflation tax
• 38:34
  because the money supply grows at about 7% per year.
• 38:36
  You've got income tax, you've got capital gains tax if you're
• 38:40
  trying to hide from inflation and scarce assets.
• 38:42
  You've got property tax, you've got sales tax.
• 38:44
  You have all these different forms of taxes.
• 38:47
  And we're just like not doing anything about it, right?
• 38:50
  And to me, like voting isn't the solution.
• 38:53
  You have to vote with your wallet, right?
• 38:55
  You have to vote with your capital.
• 38:57
  If you hold treasury bonds, you're voting for these foreign
• 39:01
  wars, right? You're saying, hey, you can
• 39:03
  borrow some of my capital to fund a war in Ukraine or to, you
• 39:08
  know, do all these government programs that are wasteful and,
• 39:11
  and just destroying the average Americans purchasing power,
• 39:14
  right? Or you can hold Bitcoin and
• 39:15
  you're saying, no, I vote for something else.
• 39:17
  I vote for real property rights. I vote for individual
• 39:20
  sovereignty. And so where you put your money
• 39:23
  is the type of world you're going to create.
• 39:25
  And so like you sort of wrapped up at the end of your, your
• 39:28
  speech there, we all have to vote for Bitcoin, right?
• 39:31
  We have to put our capital in this new system.
• 39:33
  This, this isn't a hopeless problem, right?
• 39:35
  If Bitcoin didn't exist, I would be very concerned for my future.
• 39:39
  But because Bitcoin does exist, I know I can opt out as an
• 39:42
  individual. And if we get enough of us to
• 39:45
  see this pattern, see the orange light, so to speak, then we can
• 39:49
  opt out as an entire society and really kind of turn the ship
• 39:52
  around. 100% I, I completely agree with that.
• 39:55
  We can opt out as an entire society in a peaceful way,
• 39:59
  right? I think that's the key.
• 40:00
  That's why we call it the peaceful Bitcoin revolution, non
• 40:03
  kinetic. There's people opting out and
• 40:04
  saying listen guys, you guys wanna play.
• 40:07
  You know that political BS, You guys want to fund wars?
• 40:10
  You guys want to do that? That's cool.
• 40:12
  You guys can keep that. We'll be over here, right?
• 40:15
  Anyways, Opti, what's your take on all this brother?
• 40:17
  Yeah, Before I rant though, Nico, I do want to circle back.
• 40:20
  You said something that was a good joke there that might have
• 40:23
  gone over people's heads. You said the American Prabda.
• 40:25
  Will you explain that for the people that don't know what
• 40:27
  you're saying? Yes, I know what you're saying,
• 40:29
  but I want to elaborate on that for the people that don't know
• 40:32
  what you're. Saying so, I was referencing the
• 40:33
  New York Times, right? I think over the last five to 10
• 40:36
  years, especially guys, we can't, we played the video for
• 40:39
  you guys last week. I can't emphasize enough
• 40:41
  watching this interview between Tucker Carlson and Mike Benz,
• 40:45
  but it basically has been coming out over the last five to 10
• 40:48
  years really is that a lot of these legacy media institutions
• 40:51
  are nothing more than propaganda arms for the national security
• 40:54
  state, right? Not 100%, but they do function
• 40:57
  like that in the way. And essentially what social
• 41:00
  media did is that it had mass peer-to-peer communications,
• 41:06
  right? So it becomes very difficult for
• 41:08
  governments to control mass narratives now, right?
• 41:11
  If you have millions upon millions of individuals talking
• 41:13
  peer-to-peer like we're doing right now, we're talking
• 41:16
  directly to you guys, it becomes very difficult to kind of
• 41:20
  control the mass narrative, to knock on a handful of
• 41:22
  institutions and say, hey, maybe you shouldn't run that story.
• 41:25
  It makes us look bad anyways. That being said, Pravda was the
• 41:29
  official state newspaper of the USSR of the Soviet Union.
• 41:34
  Now, what's really interesting is that clearly it was a
• 41:36
  propaganda paper, right? But if you translate Pravda from
• 41:40
  English to Rush from Russian to English, it stands for truth,
• 41:44
  right? So the state propaganda
• 41:47
  newspaper of the Soviet Union of the USSR was literally called
• 41:51
  truth, right? And what?
• 41:53
  And it kind of reminds me of the saying, right?
• 41:55
  History doesn't repeat itself, but it often rhymes.
• 41:58
  I think you know that if the Soviets saw what the current
• 42:02
  media industrial complex is like and their ability to control the
• 42:05
  narrative on a massive scale was like, man, they'd be salivating
• 42:08
  at the mouth. I think the current media
• 42:12
  industrial complex puts the the Soviet propaganda machine to
• 42:17
  shame. Anyways, Opti, what's your?
• 42:19
  Yeah, I love it. I, I, I, I just, I felt like
• 42:21
  that point should should be stressed a little more.
• 42:23
  OK, so rolling back to the whole bit, you know, look, I am no fan
• 42:28
  of money printing. This is why I'm a bitcoiner in
• 42:30
  the 1st place, but I'm even less of a fan for printing money and
• 42:35
  giving it to foreign nations and all those people in Congress
• 42:37
  waving those Ukraine flags. Like in my opinion, and I must
• 42:40
  say it out here, well, like it is what it is.
• 42:42
  They're they're all absolute traitors.
• 42:44
  They're selling Americans out for foreign profits for, for
• 42:48
  whatever the hell they're doing over there.
• 42:50
  Literally just being war mongers.
• 42:52
  Shouts out to Pedro, though. He said something on Twitter.
• 42:54
  It was like, and we call a group of politicians war mongers.
• 42:58
  Now this is a war mongers of politicians or something like
• 43:01
  that. But man, the fact that they're
• 43:04
  doing this, you know, pushing, pushing the Ukraine thing late
• 43:08
  at night over a weekend and also doing a push for the FISA bill
• 43:12
  late at night over the weekend just continues to show that the
• 43:15
  politicians are are doing shady stuff out here and they don't
• 43:19
  want people to know exactly what they're doing.
• 43:21
  Of course they're going to cover this in some feel good story.
• 43:25
  You know, we're, we're how you know, bad Russia, Russia bad.
• 43:27
  We must stop them or whatever. You know, we got to stop fake
• 43:31
  news on the Internet. We, we must clamp down on your
• 43:33
  freedom. It's all doublespeak.
• 43:36
  It's all ways to take more and more liberties away from people
• 43:40
  because they understand what we understand.
• 43:42
  If they can control the narrative, if they can sigh up
• 43:45
  and brainwash the population out there, they can basically get
• 43:48
  away with everything. And they've been getting away
• 43:49
  with everything for a long, long time.
• 43:51
  And that Bastiat quote is is so great.
• 43:55
  I've been saying it for a while, that we are well into a time in
• 43:59
  a crumbling empire where the politicians are no longer
• 44:01
  working for the citizens, but actively working against the
• 44:04
  citizens and trying to rob the coppers as quickly as possible.
• 44:08
  I think we are hitting those first stages and this is only
• 44:11
  going to continue and get worse, worse and worse.
• 44:13
  As you know, it seems like the politicians and the central
• 44:16
  banks and the bureaucrats out there are actively trying to
• 44:18
  destroy America. And you know, Nico always jokes
• 44:21
  about us leaving America, but I'm a staunch like there's
• 44:24
  nowhere else to run. For better or worse, if America
• 44:27
  falls, there's nowhere else to go.
• 44:29
  Like we need to ensure that these politicians out here do
• 44:33
  not destroy the last bastion of freedom, which is which is
• 44:36
  America. And then of course, on top of
• 44:38
  that, the whole Elizabeth Warren thing, yeah, it came out to be,
• 44:42
  I think fake news. It it was a leak.
• 44:44
  But you know, it's very interesting that maybe if it did
• 44:47
  come out as like an official leak, it's one of those Hegelian
• 44:50
  dialectics, you know, just like kind of push out this, see how
• 44:54
  the people respond to it or shouts out to the troll that
• 44:57
  made this. Because again, you know, the
• 44:59
  Babylon B is is damn near irrelevant now because the
• 45:02
  propaganda wings out there are doing their job.
• 45:04
  Like that is where we are right now, where you can't even
• 45:07
  separate quote, UN quote official news stories coming out
• 45:10
  from quote, UN quote official institutions and clear satire.
• 45:14
  That's how insane clown world has become.
• 45:17
  You, you can't tell what's real and what's fake anymore.
• 45:20
  And I think this is obviously by design.
• 45:23
  I'm I'm, I'm reminded of, and Nico, you can correct me of the
• 45:26
  clip, but the, I think it was Yuri, Yuri Besmanov clip where
• 45:30
  he was, he's a K GB officer. And he basically said, you know,
• 45:33
  just give me about, you know, 3 generations and we will psyop
• 45:37
  you into believing whatever we want to.
• 45:40
  And Nico mentioned it. You know, if the USSR, if the,
• 45:42
  the media apparatus that was a part of the USSR looked at the
• 45:46
  USSA, they would be absolutely applauding because they did an
• 45:49
  absolutely incredible job at PSYOP being every single person
• 45:53
  and literally having the average person work work against their
• 45:57
  own best incentives. And This is why us Bitcoiners
• 46:01
  call bullshit every single day by taking our, our value, our
• 46:06
  profits, our savings outside of the system and buying as much
• 46:09
  Bitcoin as possible. Because this only works because
• 46:12
  one, people still believe in the institutions and two, any amount
• 46:17
  of capital, any amount of Labor that you keep in the Fiat system
• 46:20
  just continues to perpetuate that system.
• 46:23
  And that's why all of us Bitcoin is opt out.
• 46:24
  We're just sitting here like, man, you guys are all absolutely
• 46:27
  crazy. You know, you are actively
• 46:29
  working against your own best interests.
• 46:31
  And all you really have to do is just take out your time, take
• 46:34
  out your value, take out of your labor, out of the Fiat system
• 46:37
  and it will crumble upon itself. We are at that point now where
• 46:41
  all politics is hollow, where anyone that is a bootlicker for
• 46:46
  the state is making cover for literally stealing from you and
• 46:50
  your family. And if this doesn't get you
• 46:52
  angry, I, I don't know what will.
• 46:53
  You are. You're completely brainwashed,
• 46:55
  psyop and asleep at the wheel. But it's becoming very clear
• 46:59
  that it seems like America has become a Banana Republic.
• 47:03
  And it's amazing to me that people still trust these
• 47:06
  institutions, that people still look at the politicians and
• 47:09
  like, yeah, man, he's an expert. He knows what he's doing.
• 47:11
  He's out here working for my best interest.
• 47:13
  Like the brainwashing is real. And it's just incredible that
• 47:17
  more people aren't waking up at this moment.
• 47:19
  But I think solely, but surely they are waking up because
• 47:22
  everyone is seeing the cracks in the system and they're like,
• 47:24
  what the hell is actually going on?
• 47:26
  Like you, you can't even you don't even know who the good
• 47:29
  guys are anymore. It was very clear for a long
• 47:31
  time in America, like what side was quote UN quote the good
• 47:33
  guys. And now it's like, Oh my God,
• 47:36
  like they're both evil. Wait, every side is wrong?
• 47:39
  Wait, everyone is trying to steal from me.
• 47:41
  What is going on here? So I think this is obviously in
• 47:45
  the, in the, in the theme of the show, simply Bitcoin.
• 47:49
  You know, this is all good for Bitcoin.
• 47:50
  But hey, it might get dark before it gets better.
• 47:53
  And This is why we tell everyone to buckle down.
• 47:56
  Make sure you're fit mentally, physically, make sure your
• 47:59
  bitcoins in cold storage. Make sure you are protecting
• 48:01
  yourself and your family and building local communities
• 48:04
  because you cannot trust the federal government to protect
• 48:07
  you at this point. They are actively working to
• 48:10
  hurt you and your best interests. 100%, I mean like it
• 48:14
  it again, and this might be a little bit outside the Overton
• 48:17
  window the way that Opti phrased it.
• 48:18
  But if you kind of just break it down in in very simplistic way,
• 48:24
  right? And I'm trying to be as
• 48:26
  inclusive as possible. Look, printing money is theft.
• 48:30
  Printing money is stealing period, full stop.
• 48:33
  Like they print money, they're debasing your purchasing power
• 48:37
  and money does not have to function like that, right?
• 48:41
  If every, if they're telling you that it does, they're lying to
• 48:44
  you for their benefit. And that's just a fact that
• 48:48
  that's an undeniable fact. Whatever your political beliefs
• 48:50
  are, whether you're on the left or your right, it doesn't
• 48:53
  matter, right? Lower middle classes, you guys
• 48:55
  get affected the most by this system because the lower middle
• 49:01
  classes are the ones that save and earn in Fiat and your
• 49:05
  currency is being debased so that those politicians could
• 49:08
  wave their flags right? That that's what it's about,
• 49:10
  which is absolutely nuts and it's disgusting, but this is
• 49:14
  what the peaceful Bitcoin revolution is all about.
• 49:16
  It's about standing up and saying enough is enough.
• 49:18
  I don't want to partake in that anymore.
• 49:20
  Anyways, there's about 1500 of you guys watching live on
• 49:23
  YouTube and X and about another 80 of you guys watching live on
• 49:26
  rumble. If you guys aren't watching the
• 49:28
  enjoying the show, make sure to smash that like button really,
• 49:31
  really helps with the algos. All right everybody, let's get
• 49:34
  some news. We have a lot to talk about.
• 49:38
  The Daily News. I want to give a shout out to
• 49:42
  our sponsor Foundation Devices. It's self custody done right.
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  you. Check out the Passport link in
• 50:34
  the show notes below to learn more.
• 50:37
  Everybody, I do wanna give a shout out to Passport by
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  Foundation Devices. Guys, gotta get yourself a
• 50:45
  hardware wallet. Remember guys, not your keys,
• 50:46
  not your cheese. You wanna become sovereign
• 50:48
  individuals? You wanna take self custody of
• 50:51
  your wealth, and one of the ways that you do that is by taking
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  self custody. Get yourself a hardware wallet.
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  If you pair up the passport with the Envoy app, it's incredibly
• 51:00
  easy to use your cold storage Bitcoin.
• 51:03
  I can't emphasize that enough guys you can scan the QR code or
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  check the link in the video description get yourself a
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  passport by foundation devices Bitcoin hardware wallet quick
• 51:16
  ETF update. The BlackRock ETF almost has
• 51:19
  enough almost has an as much Bitcoin as the grayscale Bitcoin
• 51:25
  ETF. The Grayscale Bitcoin ETF has
• 51:28
  304,000 Bitcoin. The BlackRock ETF has 273,000.
• 51:34
  The Fidelity ETF CF has 152,000 Bitcoin.
• 51:39
  Seems like Blackrock's going to overtake it.
• 51:42
  But yeah, I mean, it seems to have been going a little bit
• 51:44
  more sideways lately. Seems like we are chopping
• 51:47
  sideways, which in my opinion is better.
• 51:50
  If we just kept going up and to the right, like Parabolically, I
• 51:53
  think it would concern me a little bit.
• 51:55
  But anyways, in other news, I did run into this post and I
• 51:59
  think it's a great, it's a great kind of like, it's a great kind
• 52:06
  of testament to not only O'dell's quote, which is stay
• 52:10
  humble Stack SAT's, but also the Kingo's quote, which is stay
• 52:15
  solvent, right? I think it's important to dollar
• 52:17
  cost average. I think it's important to stay
• 52:19
  humble. I think it's important to not
• 52:21
  trade or you might wreck yourself.
• 52:24
  And here's a great kind of here's a great story of that.
• 52:28
  Post it on Reddit because I used to have 20 Bitcoin.
• 52:30
  I only have one. It's killing me on the inside.
• 52:33
  Just need to get this off my chest.
• 52:34
  I had a good job that paid well and before discovering BTCI
• 52:38
  basically put all my savings into stocks in 2011.
• 52:42
  Once I googled what is Bitcoin, I immediately sold all the
• 52:44
  stocks and went all in in 2017 around 5K.
• 52:47
  That's a pretty good price. I continued to put my entire
• 52:50
  earnings into BTC throughout the terrible bear markets.
• 52:52
  I even shorted BTC with BTC on bit mex a day it crashed from 7
• 52:56
  K to 3.5 K and that that was probably my best trade ever
• 53:01
  which just gave me more btci. Then got very lucky, got a job
• 53:05
  that paid in BTC, hold it as much as I could, stacking up 20
• 53:09
  BTC eventually. It's a lot nowadays.
• 53:12
  Fast forward to now and I only have one.
• 53:14
  It's because I sold some holdings to buy a house after a
• 53:18
  drop from 70K to 35K and I have been renovating it myself.
• 53:22
  That was my full time job. It ended up costing me so much
• 53:25
  more and I was not working cause causing me to sell far more BTC
• 53:30
  than I anticipated. My ex-wife sued me and I had to
• 53:33
  spend more BTC on that too. Previously I also I previously I
• 53:37
  also zeroed debt. Now I have 40K on credit card
• 53:40
  debt and even though I got my well paying job back I am right
• 53:43
  on track. It really it's really eating at
• 53:47
  me as well. I thought I was rich in the last
• 53:49
  bull run. How stupid that was.
• 53:51
  I should have kept working and never spent a single satoshi.
• 53:54
  Don't ever, ever, ever spend your BTC.
• 53:56
  Do whatever the hell you have to do to live within your means and
• 54:00
  keep earning Fiat. Do not make my mistake.
• 54:03
  I think it's a really, really good point, ladies and
• 54:05
  gentlemen, which is the whole idea of stay humble, stack sats.
• 54:11
  And the stay humble part is key there, right?
• 54:14
  Because I think what tends to happen every bull market is you
• 54:18
  start to see at your net worth in dollar terms, OK, it's the
• 54:23
  keyword and you're like, holy cow.
• 54:27
  But that's that's the problem. Because you shouldn't be looking
• 54:31
  at your net worth in dollar terms.
• 54:33
  The dollar's constantly devaluing.
• 54:35
  You know how you should look at your net worth in Bitcoin terms.
• 54:39
  And you should always strive to have more Bitcoin than the day
• 54:42
  before. If you're doing that, you're
• 54:43
  doing it correctly. If you're not doing that, you're
• 54:46
  doing it incorrectly. So that's something to keep in
• 54:48
  mind. Internalize that because I've
• 54:52
  heard this story a lot more than I wish.
• 54:55
  I, I, I've heard it a lot from a lot of people and it makes me
• 55:00
  sad every single time because 20 BTC, this, this coming around,
• 55:04
  let's say throwing, you know, throwing darts on a wall.
• 55:08
  Don't take this as speculative. Don't take this as investing
• 55:12
  advice or anything, but let's say we hit 100K, right?
• 55:15
  That 20 BTC is $2,000,000, right?
• 55:17
  And now let's say the next epoch, you know, we hit
• 55:20
  500K250K, right? You guys get this, you guys get
• 55:24
  the general gist of it. You know, it's life changing for
• 55:28
  a lot of people that type of wealth, right?
• 55:30
  So I think that's a, this is a, you know, this is a good, good
• 55:35
  warning, so to speak. And when I saw it, I felt, I
• 55:38
  felt you guys would find it valuable.
• 55:40
  Anyways, I had Jeff Booth on my show last week and I, you know,
• 55:46
  Jeff has a way of describing, you know, so many things and you
• 55:51
  guys watch this episode, go to Jeff Booth simply Bitcoin IRL.
• 55:55
  Latest one. It was last week.
• 55:57
  He blew my mind multiple times throughout the entire episode.
• 56:00
  And one of the things that I asked him is are we late?
• 56:03
  And his response was absolutely incredible.
• 56:06
  I'll play it for you guys and then we'll talk about it.
• 56:08
  Oh, it's fascinating. So Jeff, you said something
• 56:10
  there that caught my eye, which is this idea that we are early.
• 56:13
  Do you do you believe that with and of course you believe that.
• 56:15
  But you know, we're sitting at Bitcoin at 61,000 right now.
• 56:20
  You know, a lot of people still choose to, you know?
• 56:23
  Keep in mind just before you do that say 61,000 pieces of US
• 56:27
  paper, right, it's Bitcoin is repricing the world.
• 56:32
  All houses, all energy prices, all everything is being repriced
• 56:36
  into this. And again, if you want to price
• 56:38
  it in your piece of paper, then, and I think that's one of the
• 56:41
  constructs that most people are converting it to their pieces of
• 56:45
  paper to measure prices. OK, so OK, OK, OK, this is
• 56:51
  fascinating. So, so let's say someone wanted
• 56:54
  to, let's say someone wanted to make the IT.
• 56:58
  It's just OK, so you adopt A Bitcoin standard, but you start
• 57:02
  looking at prices in Bitcoin terms.
• 57:04
  Is that what you're saying? That's what I'm saying.
• 57:06
  And once you start to do that, you see all prices will fall
• 57:10
  forever because, because the thing that the, the, the thing
• 57:14
  that we never had before is something where we could allow
• 57:17
  the free market to work. So we lived in a, in something
• 57:21
  that was telling us that it was the free market.
• 57:23
  And a lot of people believe that.
• 57:26
  And, and on both sides of the Ledger, all it, it isn't a free
• 57:31
  market when money is manipulated.
• 57:33
  So it, it just says who gets more of the stolen money that
• 57:37
  comes from the same people that are giving that more strength.
• 57:41
  And, and remember, most people are measuring inflation.
• 57:45
  But first they spend all their time on the inflation rate that
• 57:50
  people are talking about is constantly manipulated.
• 57:53
  So it's not the real inflation rate.
• 57:54
  And that is true too. But they they don't even capture
• 57:59
  that it shouldn't be measured from zero.
• 58:02
  It should be measured by the natural productivity of the free
• 58:05
  market, which I would estimate today is about 5% per year.
• 58:09
  And that mean in next year it'll go faster, the year after it'll
• 58:13
  go faster because technology is exponential.
• 58:15
  That means if you did nothing in Bitcoin but hold it, then you're
• 58:20
  gonna get exponentially richer over time just by the free
• 58:24
  market. But it's the only thing that can
• 58:26
  measure it. And ironically, the rise of debt
• 58:30
  and the rise of rise of manipulated markets and then
• 58:33
  control and, and war is, is exactly as a result is a
• 58:38
  byproduct of trying to stop deflation because deflation
• 58:43
  makes debt more expensive and you can't repay it.
• 58:46
  So then you so, but, but if you're measuring, if you're
• 58:49
  inside that system of debt that's already long past
• 58:53
  insolvent and would get insolvent in a nanosecond if you
• 58:58
  allowed deflation, if you're inside that measuring from your
• 59:02
  world, it feels like everybody's dividing and you're getting,
• 59:06
  it's getting worse. And when you're taking a side
• 59:08
  and you believe in your side and you're giving it more strength.
• 59:11
  Let's imagine you March down the street and you roll over cars
• 59:15
  and you light things on fire. Then you go home to sleep and,
• 59:18
  and all the windows are fixed in the morning and your streets are
• 59:22
  clean. Where did the money come from?
• 59:25
  It came from you and, and, and I don't think people realize how
• 59:30
  much their their, their power, they're just getting all of
• 59:34
  these things within the system. It's sucking their time and
• 59:38
  energy and their lives are getting worse.
• 59:39
  By trying to play by trying to play prisoner's dilemma within a
• 59:45
  system that must steal from everybody.
• 59:48
  So, so much. He mentioned how they had the
• 59:51
  necessity for war to stop deflation.
• 59:54
  I mentioned the fact that, you know, this, this, this printing,
• 59:57
  this, taking sides, you know, and you break things in the
• 1:00:00
  protest. It's like, but we're all paying
• 1:00:02
  for that now after hearing that speech from Jeff, how does this
• 1:00:07
  make you feel? And for audio listeners, I'm
• 1:00:10
  once again replaying the video of the politicians waving, you
• 1:00:14
  know, the Ukrainian flag, basically celebrating that
• 1:00:17
  they're sending another $60 billion of which we clearly
• 1:00:21
  don't have to fund a foreign war.
• 1:00:23
  That's a totally different conversation now.
• 1:00:25
  Jeff said something also very interesting, which is life gets
• 1:00:28
  exponentially cheaper on a Bitcoin standard.
• 1:00:32
  Don't trust verify, right? You guys know that I love this
• 1:00:36
  website. Price in Bitcoin 21 the US
• 1:00:39
  dollar has got a 91% cheaper oil 92% cheaper gold 91% cheaper,
• 1:00:45
  the S&P 586% cheaper a house in the US 86% cheaper on a five
• 1:00:52
  year scale. All of those things if you've
• 1:00:55
  been living on a Bitcoin standard, right.
• 1:00:59
  So even with clown world, even with all these like things that
• 1:01:03
  you could make the argument for aren't necessarily all that
• 1:01:06
  nice. If you've been living on a
• 1:01:09
  Bitcoin standard and you've been taking that Bitcoin into self
• 1:01:12
  custody and you're the the sole owner of those keys, even with
• 1:01:18
  everything happening around you, you can be living in this type
• 1:01:22
  of, you know, Oasis in a way, with all these things, right?
• 1:01:26
  And these things getting more expensive around you.
• 1:01:28
  It doesn't apply to you, right? You can be you can be on the
• 1:01:32
  life raft, kind of like walking. You see that meme of the people
• 1:01:35
  fighting and then you're that guy in the back.
• 1:01:37
  Yeah, that's you. If you're on a Bitcoin standard,
• 1:01:39
  just kind of like watching and just listening.
• 1:01:42
  Anyways, guys, if you want to listen to the entire episode,
• 1:01:44
  which I highly recommend, go search Jeff Booth, Simply
• 1:01:48
  Bitcoin Arrow. It's the latest one 'cause he
• 1:01:50
  absolutely blew my mind and he just kept dropping fire like
• 1:01:53
  that for a whole hour. Anyways, I want to pass it on to
• 1:01:57
  the young Zoomer first and then we'll get Opti's opinion.
• 1:02:00
  Yeah, So Jeff Booth's thing is this clip you just played.
• 1:02:05
  It reminds me that we do not live in a free market economy,
• 1:02:09
  right? We have capitalism.
• 1:02:11
  You know, we can privately own capital in the means of
• 1:02:13
  production, but it's not free markets.
• 1:02:15
  The government is intervening in literally every aspect, and the
• 1:02:19
  central bank is a central planner for the most important
• 1:02:22
  industry in the economy, which is money itself and the price of
• 1:02:26
  money. If we were completely hands off
• 1:02:29
  and allowed the free market to operate in the money industry as
• 1:02:32
  it does in every other industry, prices would go down forever, as
• 1:02:36
  they do when you look through the lens of Bitcoin.
• 1:02:39
  And it would be so obvious to people if you saw this in any
• 1:02:42
  other industry, right? If you had central planners
• 1:02:45
  determining the price of this laptop or this microphone or
• 1:02:48
  cars or houses, everybody would be like, hey, this is messed up.
• 1:02:52
  Like why are we centrally planning this?
• 1:02:53
  Let's let the free market cook. But we don't see that with
• 1:02:56
  money, and people have been brainwashed into thinking that
• 1:02:58
  money stems from government. It's something that cannot exist
• 1:03:01
  any other way, when in reality, money arises naturally in any
• 1:03:05
  society that wants to trade. And Bitcoin is just the latest
• 1:03:08
  example of that. We want a way to trade
• 1:03:11
  peer-to-peer digitally without any third party, right?
• 1:03:14
  We want a way to store the fruits of our labor over time
• 1:03:16
  without it being debased or without it being confiscated
• 1:03:19
  because you're a political dissident.
• 1:03:21
  So Bitcoin is just this free market money that has emerged
• 1:03:24
  and anybody can put themselves on a Bitcoin standard today.
• 1:03:28
  I see a lot of people talk about Bitcoin standard in the
• 1:03:30
  hypothetical as if it's something that's going to exist
• 1:03:33
  in the future when it already exists today.
• 1:03:36
  I live on a Bitcoin standard. I don't hold dollars.
• 1:03:39
  Life has gotten so much cheaper for me over the last year.
• 1:03:42
  And I think anybody who wants to not suffer, right, wants to,
• 1:03:47
  like, not have a struggle financially in their lifetime,
• 1:03:50
  they need to switch to a Bitcoin standard, especially, you know,
• 1:03:53
  viewing things through the lens of a zoomer, which I am.
• 1:03:55
  I have no idea how I would be able to buy a house if I was on
• 1:03:58
  the Fiat standard, right? I have no idea what I would do
• 1:04:01
  for retirement. How am I going to start a
• 1:04:02
  family? These are so many questions I
• 1:04:04
  would have no answer to if it wasn't for Bitcoin. 100 percent,
• 1:04:07
  100% opti quick. And then we'll move on to the
• 1:04:09
  culture. Yeah well, First off, you know
• 1:04:12
  Bitcoin Zimmer is built different like for real for
• 1:04:14
  real, No cap. All right anyways, I I wanna
• 1:04:20
  touch on that that little the screen grab in the beginning,
• 1:04:24
  cuz I I had a handful of friends that wrecked themselves during
• 1:04:28
  this bull market or bear market of the last couple of years
• 1:04:31
  because they didn't stay humble and stack sats.
• 1:04:34
  You know, they they in hindsight realized they messed up.
• 1:04:38
  And the saving grace for me is just I I listen to that meme of
• 1:04:42
  just stay humble stacks at just work your Fiat job, live below
• 1:04:46
  your means. Save as much Bitcoin as possible
• 1:04:49
  and continue to provide as much value as possible and just take
• 1:04:53
  that Bitcoin in the cold storage.
• 1:04:54
  Like I, I have so many friends that are ardent bitcoiners that
• 1:04:58
  just got a little greedy. You know, they thought the
• 1:05:00
  Bitcoin was going to go to 100K. They started to make, you know,
• 1:05:03
  a little little riskier bets and they absolutely wrecked
• 1:05:06
  themselves. And now they are kind of in the
• 1:05:08
  same position as that guy, just like beating their head against
• 1:05:11
  the brick wall and like, man, like I now I now need to rebuild
• 1:05:14
  my stack. And you know, it hurts.
• 1:05:16
  It hurts to watch your friends get wrecked.
• 1:05:18
  And you know, I, I, I, my heart goes out to that guy.
• 1:05:21
  But I mean, he still has one Bitcoin.
• 1:05:23
  So as long as he continues to stack, you'll be good to go.
• 1:05:25
  But again, guys, when we go into the next leg of this bull
• 1:05:29
  market, which we think will be the end of the year, you got to
• 1:05:32
  remember the stay humble stack stats meme and not necessarily
• 1:05:35
  stay humble as like don't be, you know, flamboyant or
• 1:05:37
  whatever, but like stay humble in your finances.
• 1:05:39
  Just accumulate Bitcoin. This is why I always say the
• 1:05:42
  name of the game is hungry Hippo with Bitcoin accumulate as much
• 1:05:45
  Bitcoin as possible. As Nico always says, the most
• 1:05:47
  important number is the is the amount of stats that are under
• 1:05:50
  your control. And then on the the next point,
• 1:05:52
  you know, I absolutely love that IRL Jeff Booth.
• 1:05:55
  I love Jeff Booth's perspective. He did great, great presentation
• 1:06:00
  at Madera Bitcoin Atlantis. But man, I love saying the same
• 1:06:04
  thing. It's like what?
• 1:06:05
  What are we gonna do with our Bitcoin?
• 1:06:07
  We're gonna trade our Bitcoin for these political paper money
• 1:06:10
  like no, it it's a one way St. Once you understand Bitcoin,
• 1:06:14
  once you really understand what Bitcoin's about, you're not
• 1:06:17
  going back into the Fiat system. You're only touching the Fiat
• 1:06:20
  system as much as you need to to survive in the current moment.
• 1:06:24
  But once you understand the fraud that is a Fiat system,
• 1:06:27
  you're not going back to paper money.
• 1:06:29
  This is what it is guys. The dollars that you slave away
• 1:06:33
  for every single day, the ones you break your back for, the
• 1:06:36
  ones you are so hell bent on acquiring.
• 1:06:39
  It literally has no value. It's literally a piece of paper.
• 1:06:43
  But hey, you know, This is why it's Fiat money in the 1st
• 1:06:45
  place. It's by decree.
• 1:06:47
  It only works because the guys with guns tell you to take this
• 1:06:51
  for your service and your labor. So I really love how Jeff Booth
• 1:06:55
  is able to frame this because he he's a little, you know, he's
• 1:06:58
  got, he's a little calmer when he talks about this stuff.
• 1:07:00
  I always sound a little hyperbolic and like I'm a crazy
• 1:07:03
  guy, but is that's what it is. It's all political paper money.
• 1:07:06
  And once you understand Bitcoin, you're never going back to the
• 1:07:09
  Fiat system. So this is the, what we try to
• 1:07:11
  tell you guys constantly, every single day is that once you
• 1:07:16
  understand Bitcoin, once you're all in on Bitcoin like me and
• 1:07:20
  Mitchell are and Nico and everyone of us watching the
• 1:07:22
  show, you're never going back to the Fiat system.
• 1:07:24
  You're only touching the Fiat system as much as you need to
• 1:07:28
  get your, your, you know, groceries and pay your rent and
• 1:07:31
  your bills and all that to survive.
• 1:07:32
  But you're never going to go back.
• 1:07:34
  Like we're not here to exchange our Bitcoin for 100 million
• 1:07:38
  pieces of paper. That's not how this works.
• 1:07:41
  We don't care about the dollars. We care about the purchasing
• 1:07:43
  power going up. And that's what this is all
• 1:07:45
  about, is making sure that you aren't getting debased and you
• 1:07:48
  aren't getting poorer. Anyways, let's get into the
• 1:07:50
  culture because I do want to talk to Mitchell Nickel.
• 1:07:52
  Amen, Amen. All right, before we do that, I
• 1:07:54
  do want to give a shout out to our sponsor.
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  orange pull up, they're Bitcoiners, right?
• 1:08:23
  You're not going to interact with any alt coiners on there or
• 1:08:26
  any people that are going to tell you that, you know, if you
• 1:08:28
  send them, if you send them one Bitcoin, they'll send you two.
• 1:08:32
  It's also the number one resource for creating Bitcoin
• 1:08:35
  only events. If you move to a new city, you
• 1:08:38
  can open up the orange palap and it'll tell you the bitcoiners
• 1:08:41
  that are around you geographically.
• 1:08:42
  So it's probably a good idea to download the orange palap also
• 1:08:46
  simply Bitcoin has its own group in there.
• 1:08:48
  You could join it. Check the link in the video
• 1:08:50
  description and or the podcast description, and you can
• 1:08:54
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• 1:08:56
  there as much as possible. Download the orange palap stack
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  friends who stacks ads. All right, everybody, let's get
• 1:09:02
  to the culture. The daily culture.
• 1:09:13
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  Kaboom Racks. All right, Opti and the Bitcoin
• 1:09:55
  zoomer, what are we talking about?
• 1:09:56
  Yeah man so uh, before we get into your book Mitchell, I, I
• 1:10:00
  think it's uh befitting to start with your Bitcoin journey.
• 1:10:04
  I mean your zoomer, you, you absolutely get the problem going
• 1:10:09
  on in the world. You're able to explain this very
• 1:10:11
  well. So let's just start with the
• 1:10:12
  beginning. How'd you get into Bitcoin and
• 1:10:14
  why are you such an ardent Bitcoin believer?
• 1:10:18
  Yeah, I got into Bitcoin right at the end of 2020.
• 1:10:22
  So I had been studying economics in school.
• 1:10:25
  I was in college at the time, and I understood that inflation
• 1:10:29
  was not a great thing, right? But, you know, it's just 2% a
• 1:10:33
  year, so it's not a big deal. Whatever they say, you need to
• 1:10:35
  stimulate the economy, whatever. And then in March 2020, they did
• 1:10:39
  all of this money printing, all of this stimulus.
• 1:10:41
  And I had, you know, studied about Zimbabwe and Venezuela and
• 1:10:45
  all these places where hyperinflation had happened.
• 1:10:47
  And so I knew inflation was going to be a problem.
• 1:10:50
  And throughout the entire year of 2020, I don't think we really
• 1:10:53
  need a reminder of all the details that went on, of what
• 1:10:55
  went on there. But I lost a lot of trust in our
• 1:10:58
  systems, right? Certain events took place.
• 1:11:00
  You know, there's censorship online.
• 1:11:02
  I had a lot of questions about our incumbent power systems, and
• 1:11:06
  I didn't trust any of them. And so when Bitcoin starts to go
• 1:11:09
  on its bull run at the end of the year in Q4, it goes from 10K
• 1:11:13
  to 20K in about six weeks. I started paying attention to
• 1:11:16
  it. And once I found out it had a 21
• 1:11:18
  million supply cap and that the government cannot control it in
• 1:11:22
  any sense, then I was hooked. And so from the beginning of
• 1:11:26
  2021 through the bull market, I really started learning about
• 1:11:29
  Bitcoin as much as I possibly could.
• 1:11:31
  I dabbled in chick coins for about 6 months before it
• 1:11:33
  actually clicked that, hey, Bitcoin's the only legitimate
• 1:11:36
  thing here. And since then, I've just been
• 1:11:39
  taking the orange Kool-aid non-stop.
• 1:11:41
  And we kind of alluded to it earlier, but like, there's no
• 1:11:45
  turning back, right? There's no, I've never met
• 1:11:47
  someone who was a bitcoiner and no longer is.
• 1:11:50
  You're on this path and you see things completely differently
• 1:11:53
  now. And so my life has increased,
• 1:11:55
  it's like in quality so much since I got into Bitcoin.
• 1:11:58
  It's not even just, you know, my finances are more in order, but
• 1:12:01
  Bitcoin kind of, it changes your mindset, really does lower your
• 1:12:04
  time preference. And I started taking care of my
• 1:12:07
  body and my mind and my spirit a lot more since I got into
• 1:12:09
  Bitcoin. So my life is just drastically
• 1:12:11
  better now than it was three years ago.
• 1:12:13
  And Bitcoin has played a large part of that.
• 1:12:15
  Absolutely love it. And like the the what what
• 1:12:19
  you're mentioning, sorry to cut you off Opti and pass it back to
• 1:12:22
  you, but the whole aspect of, you know, your life has
• 1:12:26
  dramatically improved on a Bitcoin standard.
• 1:12:29
  Is this common theme that I keep hearing over and over and over
• 1:12:34
  and over again. And I want you guys to connect
• 1:12:36
  the dots between every block that we've done this.
• 1:12:39
  I'm not going to call them segments anymore.
• 1:12:41
  They're called blocks now. Boom.
• 1:12:45
  But every block that we did on today's show, I want you guys to
• 1:12:49
  connect the dots in between because there's a stark contrast
• 1:12:53
  between the two worlds. There's a stark contrast between
• 1:12:56
  the Fiat world and there's a stark contrast between the
• 1:12:59
  Bitcoin world. And you as an individual have to
• 1:13:03
  decide what world you want to live in.
• 1:13:05
  And Mitchell's a a great representation of it doesn't
• 1:13:10
  matter how young you are, right? You can transition to a Bitcoin
• 1:13:14
  standard today. You could do it right now, you
• 1:13:17
  could take agency, you could take action over your own life,
• 1:13:20
  and you can make that transition Opti.
• 1:13:23
  All right, great. Well before we get into the book
• 1:13:25
  and and the thesis of the book, I want to ask you just a very
• 1:13:28
  simple question. You are a Zoomer.
• 1:13:30
  I'm sure you still talk to Zoomer normies out there.
• 1:13:32
  So what does the Zoomer think about Bitcoin?
• 1:13:36
  They don't, they do not think about it at all, at least in the
• 1:13:40
  current environment, right during the bull market, you get
• 1:13:43
  a lot of inbound requests, as I call them, inbound Orange bill
• 1:13:46
  requests. Oh, I'm known as the Bitcoin
• 1:13:48
  guy. So people will come to me with
• 1:13:50
  their questions. Now that I have a book, I can
• 1:13:52
  just send them there. But before you know, I'd be
• 1:13:54
  typing out these paragraphs trying to explain it to him.
• 1:13:56
  But I don't waste my time doing that anymore.
• 1:13:58
  And he really takes like when I think about me getting orange
• 1:14:03
  peeled, right? Nobody orange pilled me.
• 1:14:05
  I orange pilled myself. There's an abundance of
• 1:14:08
  resources out there. If you have curiosity, you can
• 1:14:11
  find the answers to the questions you have.
• 1:14:14
  But most of the people my age, they're too short term focused,
• 1:14:18
  right? They're just thinking about
• 1:14:19
  partying or what are they? You know what's going on this
• 1:14:22
  weekend? You know who's hooking up with
• 1:14:24
  who? How am I going to pay back my
• 1:14:25
  student loans? Like I got to make rent this
• 1:14:27
  week. I got to work 60 hours and do
• 1:14:29
  overtime and all this stuff. So people aren't taking the time
• 1:14:32
  to really understand Bitcoin because you're not going to get
• 1:14:34
  it upon your first glance. You're not going to study
• 1:14:37
  Bitcoin for 5 minutes and just magically get it.
• 1:14:39
  It's going to take a little bit of effort.
• 1:14:41
  And that's something that I don't see a lot from my peers.
• 1:14:45
  But I also don't necessarily think Bitcoin is this like age
• 1:14:50
  gap generational thing. Like I've met a lot of people in
• 1:14:54
  Bitcoin from all different generations, right?
• 1:14:56
  I think the common denominator among Bitcoiners, it's simply
• 1:14:59
  curiosity. And you can have that curiosity
• 1:15:01
  if you're young or if you're old.
• 1:15:03
  So I try to like reach out to, to people and teach them about
• 1:15:07
  Bitcoin, but it's it's going to take effort from, from people on
• 1:15:11
  an individual basis, right? You can bring the horse to
• 1:15:13
  water, but you can't make a drink.
• 1:15:15
  Yeah, I love the the zoomers. No one cares.
• 1:15:22
  All right, all right, let's save it.
• 1:15:23
  Let's save it a little bit. So Mitchell, you know, glad to
• 1:15:27
  have you on our side. Fucking young kid killing it.
• 1:15:29
  Smart gets it and you wrote a book.
• 1:15:32
  It's on Amazon and everyone in the Chads mentioning the price
• 1:15:36
  shouts out to the price 1776. But for those, I mean, it might
• 1:15:41
  seem, I don't know, like it. It might seem a little too
• 1:15:44
  obvious. Like why do does there need to
• 1:15:46
  be a conservative case for Bitcoin?
• 1:15:49
  Yeah, I almost in a way regret titling it that instead of the
• 1:15:53
  American case for Bitcoin, the goal of this book for me is I
• 1:15:58
  wanted to create a resource that could really appeal to people
• 1:16:01
  that love America. Right.
• 1:16:03
  And I'll preface this by saying Bitcoin doesn't need America.
• 1:16:06
  Bitcoin will survive anyways. Bitcoin wins regardless, right?
• 1:16:09
  If America becomes super hostile to Bitcoin, Elizabeth Warren
• 1:16:13
  becomes our dictator. Bitcoins banned.
• 1:16:15
  All bit corners are getting hung.
• 1:16:16
  Us three, we're going to El Salvador, right?
• 1:16:18
  We're going somewhere else. We're taking our capital with us
• 1:16:20
  because it's literally you could store it in your head.
• 1:16:23
  But what I want, like I love America.
• 1:16:24
  I'm a die hard patriot. I would not want to live in any
• 1:16:27
  other country unless I absolutely had to.
• 1:16:30
  I want to orange peel our country, all right?
• 1:16:32
  I want America to be the place for Bitcoin.
• 1:16:35
  And you mentioned this earlier, Opji, like big America is the
• 1:16:38
  last bastion of freedom, right? If this goes down, there's
• 1:16:41
  there's really not anywhere else.
• 1:16:43
  And I want America to be be that home for Bitcoin.
• 1:16:46
  And there's just this tremendous crossover between the founding
• 1:16:49
  principles of America and sort of the ethos of Bitcoin.
• 1:16:52
  A lot of the founding fathers, they themselves would have been
• 1:16:55
  bit corners. And you saw there on the the
• 1:16:56
  back of the book, I put that Thomas Jefferson quote.
• 1:16:59
  And really where I think this starts and I make this point in
• 1:17:02
  my book is it's at the individual level, right?
• 1:17:05
  So what's going on in Washington?
• 1:17:07
  They're waving the Ukrainian flag.
• 1:17:09
  The people in DC, they're kind of gone, right?
• 1:17:11
  It's, it's almost a lost cause at this point, but it's not a
• 1:17:15
  lost cause in your town, in your county, in your state, right?
• 1:17:19
  Orange peel your mayor, orange peel the people in your
• 1:17:21
  neighborhood, orange peel your governor.
• 1:17:24
  The thing that makes America awesome and what has really
• 1:17:27
  allowed it to thrive over the past 250 plus years is that it's
• 1:17:31
  decentralized just like Bitcoin, right?
• 1:17:33
  We have 50 states. If you don't like your state, go
• 1:17:37
  to another state. Make your state the most orange
• 1:17:39
  state in the union. You know, I see a lot of America
• 1:17:43
  doomer mentality out there, but if El Salvador, the murder
• 1:17:47
  capital of the world, can get on a Bitcoin standard and turn
• 1:17:49
  things around, so can Los Angeles, so can New York.
• 1:17:52
  So can all these cities that people are saying are are
• 1:17:55
  shitholes nowadays, right? Bitcoin can turn any society
• 1:17:58
  around. Sound money can really fix
• 1:18:00
  things and you know, all the incentives that are tied into
• 1:18:04
  sound money as well, right. So that's a a huge point I
• 1:18:07
  wanted to get into my in my book is that, you know, America's
• 1:18:09
  decentralized just like Bitcoin. So orange pill your local
• 1:18:12
  community and let's really try to make America the home for
• 1:18:16
  Bitcoin. I don't want it to be somewhere
• 1:18:17
  else. I love America.
• 1:18:19
  Love it, love it. All right, Mitchell, I one thing
• 1:18:23
  and it's going to be a tangent, but I do want to get like your
• 1:18:26
  TLDR on the thesis of this book afterward.
• 1:18:29
  But one thing I've noticed as well, like I came to Bitcoin
• 1:18:32
  basically apolitical. I never really fell into the
• 1:18:35
  left or to the right paradigm. But the more we come on to the
• 1:18:37
  show and the more we cover this stuff, the more I realize that
• 1:18:42
  the right or the conservatives, they're so afraid of talking
• 1:18:46
  about money and we're always just like, it's always about the
• 1:18:49
  money guys. So what would be your, I don't
• 1:18:52
  know, counter to a conservative out there that doesn't realize
• 1:18:57
  what is going on and and they're so afraid of talking about the
• 1:19:00
  money or also, have you noticed this yourself?
• 1:19:03
  Yeah, and I actually, I got a section in the book on this.
• 1:19:06
  It's like a huge thing in conservatism is personal
• 1:19:09
  responsibility, you know, pick yourself up by the bootstraps.
• 1:19:13
  But that personal responsibility gets thrown out the window when
• 1:19:16
  it comes to money, right? They outsource their retirement
• 1:19:19
  strategy to Social Security or, you know, a a financial planner.
• 1:19:23
  Nobody's actually taking ownership of where their assets
• 1:19:26
  and their accumulated capital goes.
• 1:19:28
  And then another point kind of on this is one of my favorite
• 1:19:32
  charts I put in the book. It's on WTF happened in 1970.
• 1:19:34
  one.com that we were looking at earlier is the US national debt
• 1:19:38
  by the incumbent party in the White House and in Congress.
• 1:19:42
  And it doesn't matter red or blue, it just goes straight up.
• 1:19:46
  And a point I make in the very beginning of the book is that
• 1:19:49
  the modern day Republican Party, they are not conservative, not
• 1:19:53
  in any sense of the word, right? That bill to give 60 billion
• 1:19:57
  more to Ukraine, bipartisan, right?
• 1:19:59
  Bipartisan used to sound like a good thing.
• 1:20:01
  It's oh, you know, both sides are getting along.
• 1:20:02
  But now it's just both sides are screwing us, right?
• 1:20:04
  And so the, the fiscal spending has not been conservative, even
• 1:20:09
  in the quote UN quote conservative side, right?
• 1:20:10
  The Republican Party. And so if you really want to
• 1:20:13
  limit government spending, you have to take away the money
• 1:20:17
  printer. There's no other way around it.
• 1:20:19
  The taxes, the revenue is not going to pay for the spending,
• 1:20:22
  right? And so they print the
• 1:20:23
  difference. And if you want to actually take
• 1:20:26
  an actionable step to limit government spending, rather than
• 1:20:29
  just sort of complaining about it, then you have to adopt the
• 1:20:32
  hard money standard and handcuff the government's ability to
• 1:20:35
  finance like all this unfruitful stuff, war and and wasteful
• 1:20:39
  government programs. Love it, man.
• 1:20:42
  The youth are going to be OK. Love this kid.
• 1:20:45
  All right, so Mitchell, if someone watched this and they're
• 1:20:49
  still on the fence, or rather, what is your two-minute elevator
• 1:20:53
  pitch for the conservative case for Bitcoin?
• 1:20:56
  One is property rights. So America was founded on, you
• 1:20:59
  know, rights that come from government or, sorry, they don't
• 1:21:02
  come from government. They don't come from the
• 1:21:04
  Constitution. They come from God.
• 1:21:05
  And Bitcoin gives you that, you know, there's nobody that can
• 1:21:08
  dilute your share of the Bitcoin network, and you can hold that
• 1:21:12
  wealth in a way that can't be confiscated even with violence.
• 1:21:14
  So one is property rights. Two is energy markets.
• 1:21:18
  OK, conservatives are very pro energy and energy production and
• 1:21:22
  Bitcoin and Bitcoin mining specifically incentivizes the
• 1:21:25
  mass production of energy. So the ESG proponents like
• 1:21:28
  Elizabeth Warren, they've come after oil and gas, those
• 1:21:32
  industries and they've come after, you know, they call
• 1:21:34
  people on the right, you don't you hate the environment, right?
• 1:21:37
  Whatever you want to see the world burn, you want to boil the
• 1:21:39
  oceans. They've also come after Bitcoin
• 1:21:41
  miners. So there's a tremendous room for
• 1:21:43
  coalition there to sort of combat anti energy legislation.
• 1:21:47
  And the third thing I would say is the nuclear family, right?
• 1:21:50
  So we've seen the deterioration of the nuclear family over the
• 1:21:53
  past few decades. And part of it is, yeah, maybe
• 1:21:56
  feminism and culture and stuff like that.
• 1:21:58
  But really the primary sort of dagger there is Fiat money.
• 1:22:02
  It's a lot harder to provide for a family on a single income.
• 1:22:06
  And there's all these government programs too, that sort of
• 1:22:09
  incentivize having children out of wedlock.
• 1:22:12
  And if you can adopt A hard money standard, one, you can
• 1:22:16
  turn inflation into tailwinds, right?
• 1:22:18
  It'll actually increase the purchasing power of your Bitcoin
• 1:22:21
  and lead to more Bitcoin adoption when the currency is
• 1:22:24
  getting debased into your handcuffing.
• 1:22:26
  The government's ability to finance these disincentivize
• 1:22:29
  programs, you know, that sort of corrupt the nuclear family in a
• 1:22:32
  way. And we've seen that break off
• 1:22:33
  since 1971. And so property rights, energy
• 1:22:37
  and and nuclear family, I would say are the three sort of main
• 1:22:40
  values that Bitcoin aligns with conservatism.
• 1:22:44
  Love it, love it. And I love the meme you just
• 1:22:46
  said, you know, turn inflation into tailwinds.
• 1:22:48
  Like I really love that framing. That's great, man.
• 1:22:51
  Bitcoin zoomers out here winning.
• 1:22:53
  Absolutely love it. We did get a question in the
• 1:22:54
  chat though. Mitchell, you guys can get this
• 1:22:57
  book on Amazon. 1776 is the price, but they're wondering
• 1:23:01
  will you turn this into a digital version?
• 1:23:04
  Yes, absolutely. I'll I'll get it as a digital
• 1:23:06
  version, an e-book and then hopefully down the line get a
• 1:23:09
  translator in all sorts of different languages.
• 1:23:11
  But for now, it's just paperback.
• 1:23:13
  Absolutely love it. Absolutely love it.
• 1:23:14
  All right, Nico, you want to chime in or last too sad to
• 1:23:17
  Mitchell, what's the last message you want to leave with
• 1:23:19
  the audience? It's not red versus blue, it's
• 1:23:24
  orange versus green and I want to turn as many Reds into team
• 1:23:28
  orange as I can and definitely orange pill your local
• 1:23:31
  community. That's that's where it starts.
• 1:23:33
  Get your butcher on a Bitcoin standard, right?
• 1:23:35
  Get your hair cutter on a Bitcoin standard.
• 1:23:37
  Get the auto mechanic down the road on a Bitcoin standard.
• 1:23:40
  That's really how we're gonna make this change A. 100% love it
• 1:23:42
  man love. It yeah, man.
• 1:23:44
  And I, I gotta say, you know, I'm, you know, the, the, the
• 1:23:49
  zoom we, we, we got, we got zoomers in the simply Bitcoin
• 1:23:53
  crew and you know, the zoomers that we have.
• 1:23:55
  They built different for real, for.
• 1:23:57
  You guys are, you know, I thought the millennials were,
• 1:24:00
  you know, we're hardcore just because of 2008 and whatever.
• 1:24:05
  But the zoomers take that up a notch just, and I just think
• 1:24:08
  that it's, it's because of the times.
• 1:24:10
  I think it's because of, of, you know, like if the, if the
• 1:24:14
  millennials had some inkling of an opportunity to buy a house
• 1:24:19
  and live the American dream. I think the zoomer generation
• 1:24:23
  that's gone completely, right. And I think it, it sort of
• 1:24:28
  becomes this kind of like situation where you see in in
• 1:24:31
  developing countries where they adopt Bitcoin out of necessity.
• 1:24:36
  And I think the zoomer generation for you guys, right?
• 1:24:40
  It's like it really is like Bitcoin or serfdom Bitcoin or
• 1:24:44
  slavery, like there really is no opportunity.
• 1:24:46
  I think millennials, I at least had an opportunity to get the
• 1:24:50
  gig at Goldman Sachs or, you know, JP or something like that.
• 1:24:53
  And you know, perhaps you can be part of that 1% of the 1% of the
• 1:24:58
  millennial generation that has enough to get ahead.
• 1:25:00
  But the zoomers, man, you guys, you guys got it rougher than
• 1:25:04
  than than we did. And, you know, but the fact that
• 1:25:07
  you you have the maturity and wisdom to kind of really look at
• 1:25:11
  it at such a young age really does give me hope for the
• 1:25:15
  future. And I wonder how much of that
• 1:25:17
  has to do with you adopting a Bitcoin standard.
• 1:25:19
  I wonder how much that has changed your thinking and kind
• 1:25:22
  of your life philosophy as well. So yeah, man, Well, thank you
• 1:25:27
  for joining us. Wait, wait, wait.
• 1:25:28
  And you guys, sorry, one more question.
• 1:25:29
  I don't want, I don't mean to cut you off.
• 1:25:32
  Mitchell, what would be your elevator pitch to another zoomer
• 1:25:37
  about Bitcoin? Prices go down forever if you
• 1:25:41
  buy Bitcoin. That Lambo and that beach house
• 1:25:43
  you want will actually become affordable.
• 1:25:45
  Otherwise you're just throwing against the current.
• 1:25:47
  So adopt Bitcoin or or have fun staying poor.
• 1:25:51
  You know choose rich, right? Bitcoin is choose rich.
• 1:25:54
  Oh. My God.
• 1:25:59
  Oh my God. All right.
• 1:26:00
  Well, ladies and gentlemen, that was our show.
• 1:26:03
  If you guys enjoyed the show, you know what to do.
• 1:26:06
  Smash the like button. Consider subscribing.
• 1:26:08
  Follow our guest at Mitchell Hoddle.
• 1:26:11
  Go check out his book. It's for sale right now on
• 1:26:14
  Amazon. I'm your host, Nico.
• 1:26:16
  It's my legendary Co host Opti who interrupted me even after I
• 1:26:20
  thought I'm gonna. Interrupt you one more time,
• 1:26:22
  Mitchell. Where do you want to push
• 1:26:23
  people? Where?
• 1:26:23
  Where do you want people? Yeah, yeah.
• 1:26:26
  Where do you want to push people?
• 1:26:27
  Just get them up at Mitchell Hoddle on Twitter.
• 1:26:30
  Follow me there and you can find my book, The Conservative Case
• 1:26:32
  for Bitcoin on Amazon. I appreciate you guys.
• 1:26:34
  Let me come on here and cook. This was enjoyable.
• 1:26:37
  Boy, I, I really appreciate it and dude, you absolutely crushed
• 1:26:41
  it and you got you give me hope for for the the younger
• 1:26:45
  generations, man, it's absolutely inspiring your your
• 1:26:49
  worldview and how much you're you're you're on the ball.
• 1:26:52
  You're on point at such a young age, right?
• 1:26:55
  So anyways, guys, that was our show.
• 1:26:57
  Love you all. We'll see you tomorrow.
• 1:26:58
  Brand new episode of Simply Bitcoin Live.
• 1:27:01
  Peace out everybody. This episode was brought to you
• 1:27:05
  by bitcoinwell.com on a mission to enable independence.