Latest / Simply Bitcoin / BREAKING: Senator Admits US Gov Afraid of Bitcoin | EP 966

Transcript

BREAKING: Senator Admits US Gov Afraid of Bitcoin | EP 966 · Simply Bitcoin

• 0:03
  It's. All going to zero against
• 0:05
  Bitcoin. It's going up forever.
• 0:15
  You're against Bitcoin. You're against freedom.
• 0:23
  Yeah. Welcome to another episode of
• 0:24
  Simply Bitcoin Live. We're number one source for the
• 0:26
  peaceful Bitcoin revolution. Breaking news, culture, Matic
• 0:29
  Warfare. We will be your guide through
• 0:30
  the separation of money and state.
• 0:32
  Ladies and gentlemen, we are live from Dallas, TX, the
• 0:36
  location of Bit Block Boom this year.
• 0:38
  We are going to be live streaming from Dallas for the
• 0:41
  next couple of days. And then we are going to be
• 0:44
  having the Simply Bitcoin News desk from the floor of Bit
• 0:47
  Block. Boom.
• 0:48
  We're going to be having a lot of interviews with different
• 0:50
  bitcoiners. It's going to be a whole lot of
• 0:51
  fun. I'm extremely excited and for
• 0:54
  the first time in Channel History, we will be streaming
• 0:57
  the Bitlock Boom conference to the Simply Bitcoin channel, so
• 1:00
  it should be a whole lot of fun. Hopefully we get some great
• 1:03
  interviews for you guys in between the panels of Bitlock
• 1:05
  Boom. It's going to be awesome.
• 1:08
  Many ways back to today's theme and topic and what we're going
• 1:11
  to cover about what we're going to talk about today.
• 1:13
  So Cynthia Lummus, the the Bitcoin Senator was the and
• 1:18
  shout out to Bitcoin Magazine for live streaming it, and also
• 1:21
  the Bitcoin Policy Institute. And of course shout out David
• 1:24
  Zell for putting this together. But there's a huge event in
• 1:28
  Washington, DC with policy makers and senators and
• 1:32
  congressmen and women all to talk about Bitcoin and digital
• 1:36
  assets and the kind of regulatory environment in the
• 1:39
  United States. And there's a lot of stuff that
• 1:41
  was revealing. If you haven't been watching
• 1:44
  simply Bitcoin, if you've been watching simply Bitcoin, none of
• 1:46
  this should come as a surprise to you.
• 1:48
  Of course, we haven't had any direct confirmations.
• 1:51
  I mean, that's not true either. We've had a couple smoking guns.
• 1:55
  But yeah, I mean they're starting to say some of the
• 1:58
  quiet part out loud in terms of there are people that obviously
• 2:01
  don't want this thing to succeed.
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  We also have a a video for you guys from the head of the Bank
• 2:08
  of England. I think his name is Andrew
• 2:10
  Bailey announcing that the Bank of England somehow has an
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  Instagram. So it kind of goes into what
• 2:15
  we're talking about about the importance of this information
• 2:17
  narrative trunch warfare that we're fighting.
• 2:19
  We're fighting in the battlegrounds of the Internet.
• 2:21
  Now here's the thing, Bitcoiners have a home field advantage when
• 2:25
  it comes to Internet mimetics and Internet narrative like the
• 2:28
  Internet we that's that's our home field advantage.
• 2:31
  Like we we rule that right. So we should be definitely be
• 2:34
  able to to win that game. Government's really only weapon
• 2:38
  to attack us on the information levels, just censor speech.
• 2:42
  Like that's their go to movement.
• 2:44
  That's what we covered on Monday's episode in regards to
• 2:46
  Brazil and the Twitter files and everything that was coming out.
• 2:50
  So as long as we're able to just highlight the truth and just
• 2:52
  keep beating the battle drum, you know, I think enough people
• 2:56
  are going to awake over time. So we're going to talk about
• 2:59
  Cynthia Lummus today. Also, I have an article for you
• 3:01
  guys as well Quote is an article from Crypto Slate and it says US
• 3:07
  Senator claims Biden administration uses crypto as
• 3:10
  scapegoat to mask failures and halting illicit finance right
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  again shouldn't come as a surprise to you for any of the
• 3:18
  simply Bitcoin listeners. And what I'll what I'll source
• 3:22
  or what I'll reference, is the Wall Street Journal article that
• 3:26
  claimed that Hamas as terrorist groups were using Bitcoin to
• 3:31
  circumvent sanctions and raise a lot of money.
• 3:35
  It came out after the fact in Congressional testimony when Tom
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  Enter. Tom Emmer, GOP Majority Whip,
• 3:42
  was interviewing the head of the FinCEN.
• 3:46
  And the head of the FinCEN said himself, to quote him, that
• 3:50
  terrorists prefer the traditional financial system
• 3:53
  over Bitcoin. Which is quite interesting
• 3:55
  because the traditional financial system has all the
• 3:58
  rules and regulations in play for those things not to happen.
• 4:02
  But it seems like some illegal actors still seem to prefer the
• 4:05
  traditional financial system over Bitcoin.
• 4:08
  I wonder why that's the case, right?
• 4:10
  Maybe because bitcoins an open Ledger anyway, so we're going to
• 4:13
  talk about that as well. And also it seems like there are
• 4:17
  some companies that are actually listening to Michael Saylor and
• 4:21
  they're following in the Michael Saylor MicroStrategy.
• 4:24
  We have a company coming out of Japan called Metaplanet and
• 4:31
  their shares rose 90% after adding $6.56 million in Bitcoin
• 4:37
  to its balance sheet in partnership with Sora Ventures
• 4:41
  and other crypto investors. So I think it like this dam is
• 4:46
  just going to break loose, you know, as more people realize
• 4:50
  that the micro strategy strategy is the way forward.
• 4:53
  And also this very interesting article that I saw on Bloomberg
• 4:57
  that my dad sent me. I don't know if we'll have time
• 4:59
  to cover it today, but the name of the article is where Bitcoin
• 5:03
  and Art Artificial Intelligence meet.
• 5:05
  I think that's quite interesting, so hopefully we'll
• 5:07
  have enough time to cover that. Anyways, it's going to be a
• 5:10
  great show and we have a very special today.
• 5:12
  We have a a wine connoisseur, A winemaker, a a Bitcoin
• 5:17
  winemaker. His name is Ben.
• 5:20
  He's Ben, number 69, Ben number 69, Welcome to Simply Bitcoin
• 5:24
  Live. We are super, super happy to
• 5:26
  have you. Thanks for having me.
• 5:28
  It's great to be on a pro bend show within Bitcoin.
• 5:32
  Yeah man, I mean how many, how many like are there?
• 5:36
  Is that still a thing? Is there?
• 5:37
  There's still like an anti bend consortium.
• 5:40
  Anyways, I didn't even. There's a small anti bend
• 5:42
  movement. I even welcome Opti.
• 5:44
  Opti, I just 'cause you're next to me, bro.
• 5:46
  So jeez, he forgets me on that air Hornet bro.
• 5:49
  Opti, our legendary Co host always optimistic, is in the
• 5:53
  house. Optimus Fields.
• 5:55
  He's here. We got a comment UTXOI love his
• 5:59
  name UTXO, literally. I'm a Winekiss connoisseur.
• 6:04
  I'm a winekiss connoisseur too. Winekiss knows how, knows how to
• 6:08
  live it up. This is true.
• 6:10
  If you like to decentralize homelessness, TM hit up
• 6:14
  Winekiss. But yeah, man, it's it's good.
• 6:16
  Feels good to be here. We are streaming live from my
• 6:18
  kitchen right now. We are in Dallas.
• 6:21
  It it feels good. It's always fun when Nico and I
• 6:23
  can get in the same room and and do the show.
• 6:26
  Apparently everyone last week was like, I love when you guys
• 6:28
  are together. The chemistry is good.
• 6:30
  But let's Ben, before we get on, before, before, before we go
• 6:35
  forward plug, plug your wine and then we will talk about guys,
• 6:41
  there's an auction live right now.
• 6:42
  So plug that for us, Ben, and then we'll talk about it in the
• 6:45
  culture. Yeah, I've released my Satoshi's
• 6:49
  Reserve bottle, so it's 210 bottles from my 2021 vintage.
• 6:54
  I chose this wine from the best barrel in that vintage.
• 6:58
  It's a Cabernet Sauvignon, naturally fermented, no toxic
• 7:02
  additive, super minimal sulfite. So this wine is both a
• 7:06
  collectible and awesome wine that won't make you feel crappy
• 7:09
  after you drink it. So the 1st 21 bottles, they're
• 7:12
  all numbered, are for auction right now on scarce dot City.
• 7:19
  So scarce period city. And then the remaining 189 of
• 7:24
  the 210 bottles will go up for sale on my website
• 7:28
  p&elanewine.com at the halving. So whenever the halving happens,
• 7:34
  the rest will be released and we'll get you some of this
• 7:36
  awesome wine. Dude that.
• 7:39
  I mean, that's pretty epic, bro. Like like a bitcoiner, dude.
• 7:43
  Bitcoiner is just fucking awesome.
• 7:44
  We had a dude also like from your side of the world that like
• 7:49
  had goats, right? And we we literally, he built
• 7:53
  like a little goat thing. He built like a little goat
• 7:56
  thing and you sent him lightning and then?
• 7:57
  Like he's in the chat, He's in the chat right now.
• 7:59
  Shouts out Lightning. Goats.
• 8:00
  Like lightning goats. Like, he's the goat.
• 8:02
  Lightning goats is the goat. So yeah, I mean, bitcoiners are
• 8:07
  awesome. So, so you sell wine, You're
• 8:11
  like a wine connoisseur. Like you're like, what's the
• 8:13
  correct name? Cuz connoisseur is not the right
• 8:15
  name. You're like a whiner, like a no,
• 8:17
  that's not the right name either.
• 8:19
  You're like a like a winemaker, Is that it?
• 8:22
  As long as you don't call me a Wiener, good.
• 8:24
  But I make wine, so I'm a I'm a vintner and own a winery.
• 8:29
  Oh wait, it's called vintner. You're a vintner.
• 8:32
  Vintner is someone who makes wine, but I also own the winery,
• 8:34
  so I do a little bit of everything there.
• 8:37
  But yeah, got into that and then found Bitcoin along the way.
• 8:40
  So it was a a natural transition to kind of lean into Bitcoin and
• 8:46
  in the wine game. So you're a whitner on a Bitcoin
• 8:50
  standard? Yeah, but Vitner on a on a
• 8:54
  where's. Where's the fail?
• 8:56
  Where's the fail? Over here, Nika Nikas, Dad
• 8:59
  jokes, failing live. I try I like actually tried to
• 9:04
  say what is it called Vitner A Vitner.
• 9:07
  I don't. I don't think there's AT there.
• 9:08
  I don't know. I don't know how to spell words
• 9:10
  either. There it is.
• 9:11
  OK, inventor. See.
• 9:13
  Give yourself the fail, bro. Anyways, it's going to be a
• 9:18
  great show. We have a lot to talk about
• 9:20
  today. Another awesome bitcoiner on the
• 9:22
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  We love highlighting bitcoiners from all walks of life just
• 9:27
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  So I'm incredibly hyped for today's show, but before we jump
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  code simply all right at the time of recording things out.
• 13:10
  The At the time of recording 69,120 stats per dollar 1447
• 13:16
  block height 838,600, six, 128 blocks to having 1372 Having
• 13:23
  estimate April 19, 2024 Total Lightning network capacity 4363
• 13:30
  Bitcoin capacity value 301 million U.S. dollars Realize
• 13:35
  monetary inflation 1.73% The market capitalization of Bitcoin
• 13:40
  1.36 trillion U.S. dollars Bitcoin verse gold market cap We
• 13:47
  are sitting pretty at 9.83% In the grand scheme of things.
• 13:51
  We are just getting started. Anyways, moving on to again, the
• 13:58
  mimatics are important, Mimatics are important.
• 14:01
  Optis are in house E girl that we have here at Simply Bitcoin.
• 14:05
  He works on the vertical video type of stuff.
• 14:08
  That's what he's trying to dominate.
• 14:10
  But it doesn't mean the central bankers aren't trying to do it
• 14:13
  as well. We've had we've played you guys
• 14:15
  videos from Christine Lagarde. Jerome Powell did one the other
• 14:18
  day. Now here is the head of the Bank
• 14:22
  of England. His name is Andrew Bailey and
• 14:25
  like you guys let me know if you find this video enticing or
• 14:30
  anyhow. Anyways, just let's start with
• 14:32
  the look on his face. He just, I I feel like he's he's
• 14:35
  not looking at me. He's looking into Opti's eyes,
• 14:38
  you know, his soul. He just knows he's like Opti,
• 14:43
  you're next. Anyways, let's play the video.
• 14:47
  Hi, I'm Andrew Bailey and I'm the Governor of the Bank of
• 14:49
  England and I'm here to launch our new Instagram channel.
• 14:53
  We're going to use it to tell you some of the things that go
• 14:55
  on in the Bank of England that you may not know about what we
• 14:58
  get up to and some things about the bank's history.
• 15:02
  But I've got one good bit of news.
• 15:04
  You're not going to be seeing a lot of me on this.
• 15:06
  It's all about the bank, which is more important.
• 15:10
  All right. Like, I mean, so in audio is
• 15:14
  terrible. Acoustics are terrible.
• 15:18
  Who the fuck would want to know about the Bank of England,
• 15:22
  right? We we have a hard time making
• 15:23
  Bitcoin cool, bro. I mean, a central bank.
• 15:26
  Like I feel like there's an uphill battle and I think they
• 15:31
  perhaps just a thought they should have picked up maybe a a
• 15:34
  different person saying it. Yeah.
• 15:37
  Remember when the EU, I think it was that they had that like,
• 15:40
  semi cute girl, You know, at least they're trying.
• 15:43
  Yeah, they had. They definitely had someone like
• 15:45
  kind of in the age group, right? Anyways, so the inflation.
• 15:50
  I had to cover this 'cause this was kind of making its rounds on
• 15:53
  on on X, inflation comes in hotter than expected in March.
• 15:58
  Let's check out some of the article.
• 16:01
  U.S. consumer prices came in Hotter than expected in March.
• 16:04
  According to the latest data from the Bureau of Labor
• 16:06
  Statistics released Wednesday morning, the CPI rose .4% over
• 16:11
  the previous month and 3.5% over the prior year in March, an
• 16:16
  acceleration from February's 3.2% annual gain in prices.
• 16:20
  The data match February's month over month increase.
• 16:23
  Both measures came in ahead of economist forecast of a .3%
• 16:29
  monthly increase and a point 3.4 annual increase, according to
• 16:33
  data from Bloomberg The hot Print.
• 16:35
  The hot print complicates the Federal Reserve's next move on
• 16:39
  interest rates, as the central central bank works to bring
• 16:42
  inflation back down to its 2% target.
• 16:44
  Fed officials have categorized the path down to 2% as bumpy.
• 16:49
  Investors now anticipate 225 basis points cut this year, down
• 16:54
  from the six cuts expected at the start of the year, according
• 16:57
  to updated Bloomberg data. On a core basis, which strips
• 17:00
  out the most most volatile cost of food and gas and prices in
• 17:05
  March climbed .4% over the prior month and 3.8% over last year
• 17:11
  March, matching February's data. Both measures were higher than
• 17:14
  economists expectations of a .3 monthly increase and a 3.7%
• 17:20
  annual gain. Market sank following the data's
• 17:22
  release, with the 1010 year Treasury yield jumping more than
• 17:26
  14 basis points to touch above 4.5% for the first time in 2024.
• 17:32
  So a lot to kind of unpack here. I feel like like this is all
• 17:38
  kind of like archaic and like it's just so weird that you know
• 17:48
  like every month society waits for the CPI and the Fed meetings
• 17:55
  are even like weirder like. And there's like, people that
• 17:58
  like study, like Jerome Powell's, like body movements
• 18:01
  and like how he's reacting and how he says things because, like
• 18:06
  the market's trying to anticipate what the F is going
• 18:09
  on. I mean, I could tell you
• 18:13
  Bitcoin's inflation rate right now.
• 18:15
  I could tell you, you know, that there's a halving coming up in
• 18:18
  roughly 10 days or so, 9 to 10 days, give or take.
• 18:22
  I could tell you that for a fact.
• 18:26
  It's just, you know, it's night and day.
• 18:30
  Like, it's just night and day. I feel like this is that.
• 18:33
  That's the word I was looking for.
• 18:34
  Like this is super archaic looking at this.
• 18:38
  And one last point that I got to say is like, no one believes
• 18:43
  that 3.5%, like, like things have gotten significantly more
• 18:48
  expensive than 3.5%. So yeah, I mean, I think it's a
• 18:53
  little bit of gaslighting, in my opinion.
• 18:55
  In my humble opinion, we got Elaine in the chat waiting for
• 18:59
  the liars to lie. Weird, huh?
• 19:00
  Yeah, I mean, it is. It's just it is kind of weird,
• 19:04
  dude. Like, it's like a it's like a
• 19:06
  cult. Like, it's like a cult
• 19:08
  celebration, man. It's like a weird.
• 19:10
  It's a weird cult. Like, they call us a cult, but
• 19:13
  there's like a little like pyramid with a fucking eye in
• 19:16
  the back of the dollar bill, man.
• 19:18
  All right, So I like our cult better, 'cause we get richer and
• 19:22
  they get poorer, like they're in a cult of poverty.
• 19:26
  Like dude. It's a death.
• 19:27
  Cult. We're in a cult of, like, wealth
• 19:30
  and prosperity and optimism. My money, we got lightning goats
• 19:34
  in the chat. I I wanna see what lightning
• 19:36
  goats is. A wise man.
• 19:38
  All right. Lightning goats says problem is,
• 19:41
  in Normie world, no one even knows what inflation is.
• 19:44
  That is an excellent point. Let's talk about that for a
• 19:47
  second. OK, so they're talking about
• 19:49
  inflation, right? And they're like, oh, inflation.
• 19:52
  Like inflation comes in hotter than expected in March.
• 19:54
  OK, let's say they get this back down to to the magical 2%
• 19:59
  number. They can't even explain as to
• 20:02
  why it's 2% and it's just this magical number.
• 20:06
  Let's say they get it back down to that magical 2% number,
• 20:09
  right? Like, whoop Dee Doo.
• 20:12
  That doesn't mean that prices are going to go back to where
• 20:15
  they were before. That just means that the prices
• 20:18
  of things. Aren't increasing at a a greater
• 20:22
  pace. That's all it means.
• 20:24
  And so many people don't quite understand that.
• 20:28
  And we hear this talking point from politicians all the time,
• 20:31
  especially like the, the White House press secretary.
• 20:33
  Like inflation is back down. That doesn't mean that prices
• 20:37
  are going to go back down. Like people don't understand
• 20:39
  that. Like, they still think like, oh,
• 20:41
  inflation's down. Everything's going to be OK,
• 20:43
  great. You know, Opti and Chrissy are
• 20:45
  going to get back together. No, they don't get that.
• 20:47
  They don't understand. They have no effing clue.
• 20:50
  We have another comment from Utxo says Keynesianism is a cult
• 20:54
  of debt and negativity. Bitcoin is positive and based on
• 20:58
  savings. I mean, that deserves some bars,
• 21:00
  bro. OK, the number section is
• 21:05
  running a little bit long today, so I did want to get to today's
• 21:08
  topic. All right, so we have Dylan
• 21:10
  Leclair posting this again. Shout out to Bitcoin Magazine
• 21:13
  for streaming it from the Bitcoin Magazine channel.
• 21:16
  And here you have Senator Cynthia Lummus, and I believe
• 21:20
  this is the CEO of Marathon Digital Holdings, which is
• 21:24
  currently one of the world's largest publicly traded mining
• 21:27
  companies. And they had some really
• 21:30
  interesting conversation, but someone said it in the chat,
• 21:32
  right? Like, tell me something.
• 21:34
  I don't know if you guys have been listening to Simply Bitcoin
• 21:36
  and tuning in to our show. None of this should come as a
• 21:40
  surprise to you. We found multiple smoking guns.
• 21:44
  I think the most blatant was the Wall Street Journal collusion
• 21:48
  with Elizabeth Warren, the Elizabeth Warren bill that would
• 21:51
  be a de facto bill on on self custody and Bitcoin mining in
• 21:55
  the United States. She took advantage of the crisis
• 21:59
  that's hopping that's happening in Gaza between Palestine and
• 22:02
  Israel to try to sneak in these regulations.
• 22:06
  You know, the Bitcoin community kind of came back together and
• 22:09
  they fought back and it was great.
• 22:11
  It was wonderful. But yeah, I mean, talk about
• 22:15
  opportunist, talk about, you know, using, you know, false
• 22:20
  information in order to to achieve a certain end goal.
• 22:24
  So yeah, I I it's a bunch of bullshit in my opinion anyways,
• 22:29
  not coming from simply Bitcoin. I mean, that's simply Bitcoin's
• 22:31
  opinion, obviously. But let's hear what Senator
• 22:34
  Lummus has to say. I think.
• 22:35
  I think her name is not Lummus. I think it's pronounced
• 22:38
  differently. I think it's Lummus.
• 22:40
  Is it Lummus? Yeah, I think it's Ben.
• 22:43
  Well, let's ask Ben. Ben's are smart.
• 22:45
  Ben, what do you think? Is it Lummus?
• 22:47
  I've always heard Lummus, but I can't read, so I have no idea.
• 22:51
  It's got double M, so it's a hard M lummus.
• 22:54
  OK, 'cause I've I've someone, I feel like someone's corrected
• 22:57
  me. People said unless it's Loomis,
• 22:58
  but I think it's. Lummus is it Loomis?
• 23:00
  I don't know. I don't know.
• 23:01
  Anyway, hashtag we can't speak. Anyways, here's a clip from
• 23:05
  Senator Lummus. Maybe Lump Loomis.
• 23:08
  Let's check out what she has. Oh, they're saying Loomis.
• 23:09
  They're saying Loomis. It is Loomis.
• 23:11
  Oh, see, What did Lightning Goat say?
• 23:15
  Ben's wine keeps getting cheaper in Bitcoin world.
• 23:18
  I don't know if that's a jab or not or but.
• 23:21
  No, it's not. No, it's true.
• 23:23
  Lightning Goats plays 40 jobs, bro.
• 23:25
  All right, here we go. Here we go.
• 23:29
  So the state of play on Capitol Hill is, I think, best explained
• 23:36
  by what I see as the overarching motivations.
• 23:40
  And in this administration, there are a number of
• 23:47
  high-ranking policy positions that are held by people who are
• 23:54
  threatened by Bitcoin because they know they can't control it.
• 23:59
  They know it's decentralized. They know its potential.
• 24:05
  No shit, Sherlock. I mean, that's what we that's
• 24:07
  how. How long have we been saying
• 24:09
  this Like we, Opti and I went from, like we really, really
• 24:14
  attempted. We tried to play the benefit of
• 24:17
  the doubt game for like at least nine months.
• 24:20
  And then we were so jaded by the end of it that we're like, no,
• 24:23
  bro, these people are like monetary demons.
• 24:26
  Like it's confirmed anyways. All right.
• 24:29
  And these are people that are so wedded to the government being
• 24:34
  in control of the money, how it's spent, how it's used, that
• 24:43
  they find it threatening that something exists that they can't
• 24:48
  control. And so with that policy
• 24:51
  overarching motivation, we're seeing things like a proposed
• 24:56
  30% tax on Bitcoin mining. We're seeing things like that.
• 25:02
  Truly odd regulatory overreach by the energy EIA, Energy
• 25:12
  Information Administration over at Energy to send out
• 25:17
  questionnaires about mining consumption of energy.
• 25:23
  That was just egregious. And so these are the policy
• 25:31
  headwinds that the Bitcoin world is facing right now.
• 25:39
  And it's really, I think, entirely based on this
• 25:44
  administration's fear of things they can't control.
• 25:51
  I mean tune into simply Bitcoin so you could hear this thing
• 25:56
  nine, six months before and then you'll see like me and Opti go
• 26:00
  through literally a a denial phase.
• 26:06
  But like, yeah, I mean, is it Is this like another I told you so
• 26:11
  moment. Yes, and I think this is an
• 26:13
  Opti. I told you so moment cuz I came
• 26:15
  out at the gate pretty strong and he goes like let's give him
• 26:17
  the benefit of the. Doubt you're right.
• 26:19
  I was giving them the benefit of the doubt, but you just you just
• 26:22
  went straight from the. I just don't trust politicians.
• 26:25
  I don't trust central bankers, I don't trust the institutions.
• 26:28
  And it really just goes back to like everything I've been saying
• 26:31
  for the last couple of weeks is if you, if you look going back
• 26:34
  to even the CPI numbers, if you believe the official numbers,
• 26:38
  then you are just lost in the sauce.
• 26:41
  And you know, again, touching on the central banker memes there,
• 26:45
  it it's an information war. And.
• 26:48
  Yeah, and and guys, just, you literally just remember what
• 26:53
  Fiat means. It means by decree.
• 26:55
  So they have to lie to you by definition of their money.
• 26:58
  They have to lie to you so that you believe their narratives.
• 27:00
  So I'm not surprised by this Shouts out to Cynthia Lummus, as
• 27:04
  Elaine said in the chat. You know, wow, an honest
• 27:06
  politician like it. It feels good.
• 27:08
  It's a nice breath of fresh air. But we knew that this was
• 27:11
  coming, guys. Like, we knew this was the
• 27:12
  uphill battle and you know, just put it in in theme terms, you
• 27:16
  know, Fiat Maxi's going to Fiat Maxi.
• 27:18
  So I'm not surprised at all this is.
• 27:20
  It's just good to finally get the quiet part said out loud.
• 27:22
  Not just from, you know, quote, UN quote conspiracy theorists on
• 27:26
  Youtubers. Because it just goes to show
• 27:29
  we're right. We're we're constantly right in
• 27:31
  the Bitcoin world and this is our job to try to wake up the
• 27:35
  normies out there. So hey, it is what it.
• 27:38
  Is 100% Ben 69. Do you have any thoughts on
• 27:41
  this? It seems like is this the
• 27:45
  beginning of. I mean it's been then they fight
• 27:48
  you covertly presumably for a while.
• 27:50
  But this is I mean it's not brand new like you said you guys
• 27:53
  have been talking about it but is this the beginning of serious
• 27:56
  and they fight you overtly and honestly like I mean the ETFs
• 28:01
  are probably if you view those in a negative light that's the
• 28:04
  extent of the covert attack and in trying to just Co opt the
• 28:09
  system. But realistically it seems like
• 28:12
  things are just coming out of the woodworks covertly not or on
• 28:17
  like in front of the of the world now.
• 28:19
  And it'll just be interesting to see how people react because as
• 28:23
  you guys have been saying people don't even understand inflation.
• 28:26
  They lump Bitcoin in with crypto.
• 28:28
  They see everything as risky and they don't totally know.
• 28:32
  But this this third like if if we get a bull reveal bull run
• 28:36
  here this is like probably the third time they've really heard
• 28:39
  about Bitcoin in their lives. Just normal people and maybe
• 28:44
  that gives them a chance to actually look into it.
• 28:46
  Maybe we have a critical mass maybe we have an intransigent
• 28:50
  minority that will not stand up not stand for the things that
• 28:56
  they're trying to push upon us. And I mean, I hope we've built
• 29:00
  up a strong enough base of bit corners, because it seems like
• 29:03
  the overt coming after us is going to start happening beyond
• 29:09
  the covert stuff like KYC and little things that we don't even
• 29:15
  know about in the background. So it's going to be interesting
• 29:17
  interesting to watch this run defy all the smart people quote
• 29:23
  UN quote that hate Bitcoin. I'm into that.
• 29:27
  Also, I do want to give a shout out to the Super chat that we
• 29:31
  got that damn $50. Holy cow.
• 29:36
  Yuval Zaza used that to stack SAT so appreciate.
• 29:39
  Thank you so much for the Super chat.
• 29:41
  That's one of what's one of our largest man I.
• 29:43
  Think that's the biggest one? Bro, so appreciate it.
• 29:46
  We did turn on super chats by popular request.
• 29:49
  Wine is gonna be extremely happy and we'll definitely use that to
• 29:54
  feed some goats later on. Anyways, so I do wanna get to
• 29:58
  this article which is kind of saying what what Senator Cynthia
• 30:04
  Lummus was saying in regards to the current administration,
• 30:07
  except this time it's coming from a different Senator.
• 30:10
  This senator is called Tim Scott.
• 30:12
  I believe also that he is currently in the like the
• 30:17
  according to the betting odds like he is in in the top in
• 30:20
  terms of being the pick for Vice President for the Republicans,
• 30:25
  which is interesting. Anyways, so it goes on to say US
• 30:28
  Senator claims Biden administration uses crypto as
• 30:31
  scapegoat to mass failures in halting illicit finance.
• 30:35
  That goes on to say, in a pointed critique during a Senate
• 30:38
  hearing on April 9th, Senator Tim Scott accused the current US
• 30:42
  administration of making digital assets the scapegoat and efforts
• 30:46
  to combat terrorist financing, ignoring more significant, more
• 30:50
  traditional sources of such funding, particularly those
• 30:53
  benefiting Iran. Wow.
• 30:57
  Holy cow. It's.
• 30:58
  Wait, reread that again. It's almost as if, like how, how
• 31:02
  long ago did we say that? Jesus, oh man, bro, do you think
• 31:08
  they watch simply Bitcoin? Probably not, but anyway, a man
• 31:13
  can help. Oh man.
• 31:14
  OK, anyways, yeah, you want to hear tomorrow's Bitcoin news
• 31:17
  today? This is simply Bitcoin anyways.
• 31:20
  Addressing addressing Deputy Treasury Secretary Aduala a dead
• 31:27
  Yemo, Scott voiced concerns over the Treasuries exclusive
• 31:31
  requests for expanded authority over crypto currencies in the
• 31:35
  Senate Committee on Banking, Housing, and Urban Affairs.
• 31:38
  He argued that this narrow focus sidelines significant sources of
• 31:41
  terrorist funding, including Iran's $35 billion in oil
• 31:45
  experts exports and an additional $16 billion in US
• 31:49
  hostage relief electricity waivers, which according to
• 31:52
  Scott facilitate the Iranian government's misuse of funds.
• 31:57
  According to Scott, the focus on crypto misses the quote elephant
• 32:01
  in the room as the scope of the conversation regarding illicit
• 32:05
  finance is quote far larger than digital assets.
• 32:09
  In response to Treasury Secretary Adeyemo defended the
• 32:13
  focus on digital assets, stating the Treasury's current lack of
• 32:16
  authority making it making it challenging to restrict crypto
• 32:20
  assets crypto transactions effectively compared to
• 32:23
  traditional financial transfers. Adiyamo emphasized the distinct
• 32:27
  challenges posed by crypto, including Russia's stable coin
• 32:30
  use to avoid sanctions and North Korea's reliance on mixtures to
• 32:34
  obscure financial transactions. Adiyamo outlined the Treasurer's
• 32:38
  request for additional powers over crypto, a proposal made in
• 32:42
  November that aims to introduce secondary sanctions against
• 32:45
  foreign crypto providers, tightening existing regulations
• 32:48
  and addressing risks posed by international crypto platforms.
• 32:52
  At the MO also addressed Scotts concerns about the abuse of
• 32:55
  humanitarian funding and said the US intends to remain
• 32:59
  committed to humanitarian relief despite Irans known abuse of
• 33:03
  funding. And his prepared remarks at the
• 33:05
  MO explained how the Treasury wants additional authority over
• 33:08
  crypto. The Treasurys former request
• 33:10
  dating back to November focuses on three points to introduce a
• 33:14
  secondary to sanctions tool aimed at foreign crypto
• 33:17
  providers. Tighten existing authority over
• 33:20
  crypto in targeting jurisdictional risk from crypto
• 33:23
  platforms based internationally. OK, so a lot to unpack there and
• 33:28
  we're going to cover this because I feel emboldened just
• 33:32
  because of how we like literally nailed though that Tim Scott and
• 33:36
  Senator Cynthia Lummus thing. By the way, there's 913 of you
• 33:40
  guys watching us on YouTube and X.
• 33:42
  And let me check Rumble. Give me one second.
• 33:46
  There's 65 of you watching us on Rumble.
• 33:48
  So if you guys are enjoying the show, make sure to smash that
• 33:51
  like button on the platform. Really helps with the algos.
• 33:54
  OK, I'm emboldened because we called.
• 33:57
  We got it right, We got it right.
• 33:59
  All right. US sanction policy is not
• 34:04
  compatible with how Bitcoin works, Full stop.
• 34:06
  Period. What Cynthia alumnus said about
• 34:10
  how there's current members in the administration that are in
• 34:13
  positions of power and they feel threatened by the fact that, you
• 34:17
  know, holy cow, you know, they can't really control this thing.
• 34:23
  Look, you this, this is a pivotal, this is a monumental
• 34:30
  shift from how things used to function.
• 34:35
  This is the sovereign individual thesis playing out in real time.
• 34:40
  You governments are not going to have the ability to control
• 34:44
  information and money the way they used to.
• 34:49
  Things have changed. The Internet started the fire
• 34:52
  gas. Bitcoin poured a like a barrel
• 34:56
  of gasoline on that fire. So you know, they can try to
• 35:01
  impose the traditional regulations in the traditional
• 35:05
  system on top of Bitcoin. I just don't think it's no, it's
• 35:09
  not that. I just don't think it's going to
• 35:11
  work. It's not going to work in terms
• 35:14
  of stopping people's ability to use it.
• 35:18
  What can happen is that they can make the lives of people
• 35:22
  extremely miserable. Not stopping criminals, I might
• 35:25
  add, but stopping law abiding citizens, They can make their
• 35:29
  lives miserable. They can actually hurt their
• 35:32
  ability to benefit from the the Bitcoin effect.
• 35:36
  A great example of that is the Bitcoin ETF.
• 35:41
  They literally approved that with their teeth grinding.
• 35:45
  They're like we don't want this. This is horrible, this is
• 35:48
  horrific. And the reason that they didn't
• 35:51
  prove it, you know, five years before is because of the
• 35:54
  so-called risk. Like, think about how much money
• 35:59
  people could have made if that ETF was approved.
• 36:03
  And then not to mention the way that they completely drop the
• 36:07
  ball on the ETF approval. And it was the SCC themselves
• 36:11
  that literally manipulated the market because they, like I
• 36:14
  said, the ETF was approved and the price pumped.
• 36:16
  Then they said it wasn't approved and the price crashed.
• 36:18
  And then the next day we're like, Oh yeah, you know what?
• 36:20
  It actually was approved. So it's like the agency
• 36:23
  themselves that is responsible for that, you know, literally
• 36:26
  did the thing that they're responsible for stopping.
• 36:29
  So we're this is part of the transition into the information
• 36:33
  age. This is part of the separation
• 36:35
  of money in state. And what I said yesterday, I'll
• 36:38
  say today, things don't change. When the government realizes
• 36:42
  that they can't stop this, things change.
• 36:45
  When a large enough percentage of the population realizes that
• 36:49
  the government has no power to stop this, that's when things
• 36:54
  start to really change. Because we've lived in a world
• 36:57
  where the government's return on violence has been extremely
• 37:01
  high. And as we as we transition into
• 37:04
  the information age, their their return on coercion, their return
• 37:09
  on violence starts to be diminished.
• 37:12
  And that's the world that we're literally moving, moving towards
• 37:17
  and there's nothing they could do to stop it.
• 37:19
  So here's the thing though, they can get on the train themselves
• 37:23
  and benefit from it. However, they are going to have
• 37:26
  to give up some power and control in the process or they
• 37:31
  can just scare people away from their jurisdictions.
• 37:34
  That's that's what's going to happen.
• 37:35
  Like there is no other option other than trying to go down the
• 37:41
  China totalitarian route. But as we know from China, based
• 37:45
  on the data, the data and the information that's coming out of
• 37:48
  there, even with the CCP, the CCP mining ban, it's estimated
• 37:53
  that between 10 to 15% of the hash rate is still located in
• 37:57
  China. There's still a tremendous
• 37:58
  amount of volume that's coming out of China.
• 38:01
  So think about it this way. In the most totalitarian
• 38:04
  country, one of the most totalitarian countries in the
• 38:07
  world, it's a single party state.
• 38:09
  People are risking breaking the law in order to use Bitcoin and
• 38:15
  benefit from Bitcoin. So you're trying to tell me, in
• 38:19
  the US, look, the marijuana industry is a great example,
• 38:22
  like the marijuana ban, the prohibition in in the 1920s,
• 38:26
  right, With alcohol. Like none of those things
• 38:29
  worked. None of them worked.
• 38:31
  None of it worked ever. Right.
• 38:34
  So again, like, are you going to like, are you going to make it
• 38:37
  illegal for people? Because this is what Elizabeth
• 38:39
  Warren has proposed? Are you going to make it illegal
• 38:42
  for people to write down 12 words and somehow, like, they
• 38:45
  get put in a box for doing so? Are you going to make it illegal
• 38:48
  because people don't want to use your current or you want to
• 38:51
  force people to use money that steals from them because that's
• 38:54
  the proposition. Like that's what certain members
• 38:57
  of the government have, you know, in their minds.
• 39:00
  I mean look at, look at the the famous Barack Obama video where
• 39:03
  he's like, look like, are you trying?
• 39:06
  Not everyone could have a Swiss bank account in their in their
• 39:09
  pocket. That's precisely what Bitcoin
• 39:12
  is. It's like not only or you do
• 39:14
  have a Swiss bank account in your pocket, you are the owner
• 39:18
  of that. You are the owner of the bank,
• 39:20
  of that Swiss bank, right. It's like that.
• 39:22
  And I think the world would be a much better place for it.
• 39:26
  So don't let them gaslight you. Don't let them tell you that the
• 39:29
  world is somehow going to burn down in flames unless they have
• 39:33
  a back door and unless they have complete totalitarian censorship
• 39:37
  control over everything. I think they're wrong.
• 39:39
  I think the world before 1913, before the introduction of the
• 39:44
  Federal Reserve in the United States, before the introduction
• 39:47
  of the federal income tax in 1913 as well, I think was a much
• 39:50
  more peaceful place. You know, I'm going to use Ron
• 39:53
  Ron Paul's quote. It's not a coincidence that the
• 39:56
  century of central banking is was also the bloodiest century
• 39:59
  in human history. I think it's time to try
• 40:02
  something new. If you're a millennial, if
• 40:04
  you're a zoomer, you're priced out of the housing market like
• 40:08
  things suck ass. And I mean, they can't even take
• 40:11
  responsibility for the inflation numbers.
• 40:13
  They gaslight you on that. I think it's time to try
• 40:16
  something new. And unfortunately for a lot of,
• 40:19
  you know, the managerial class, for a lot of the administrative
• 40:23
  class, for a lot of the elite political class that benefit
• 40:26
  from that money printer, that's a terrible, that's a really
• 40:29
  tough pill to swallow. But I mean, like, dude, like,
• 40:32
  you know, it's what I said. It's either Bitcoin or slavery
• 40:34
  for us. And the younger you are, the
• 40:36
  more serious you take this because you don't have another
• 40:40
  option. Like, it's dire for you, you
• 40:43
  know. And one of the other things that
• 40:45
  I would say is we hear this like common theme all the time, which
• 40:48
  is this idea of like the American Dream is dead, you
• 40:52
  can't afford it, you know, people can't buy houses, people
• 40:55
  can't buy this. The American Dream is living.
• 40:59
  It's alive. It's never been better.
• 41:01
  And it you can adopt the American Dream anywhere around
• 41:04
  the world if you adopt A Bitcoin standard.
• 41:07
  So if you adopt Bitcoin, if you are against Bitcoin, you're
• 41:11
  against people's prosperity, you're against people's ability
• 41:14
  to save for a better future. You're against people's
• 41:17
  optimism, like that's what you're against.
• 41:19
  You literally want people to be poor.
• 41:22
  So whether that's the Biden administration, whether that's
• 41:24
  Elizabeth Warren, if you're against Bitcoin, you want
• 41:28
  poverty, you want nihilism, you want all the characteristics
• 41:33
  that come with Fiat today. That's what you want for your
• 41:35
  people, and that's effed up. And bitcoiners have to keep
• 41:40
  pressing and we keep have to keep highlighting that fact and
• 41:43
  we have to keep making it. We have to control the
• 41:47
  conversation in that in that perspective.
• 41:49
  Like we have to make it that simple.
• 41:51
  If you're against Bitcoin, you're against all these things.
• 41:54
  If you're against Bitcoin, you're against freedom.
• 41:56
  Period. Full stop.
• 41:58
  There is no debating that. Anyways, Opti, what's your take?
• 42:02
  Yeah, I mean, I think it's something we've been saying for
• 42:04
  a long time on the show and it goes back to the roundabout, the
• 42:10
  what's the roundabout meme? Like, you know, we're never
• 42:13
  going to take the power out of the government's hand.
• 42:15
  We have to build a roundabout system that they can't control.
• 42:17
  And that's what Bitcoin is. And we're seeing right now,
• 42:20
  especially in in the political bureaucratic class that they do
• 42:25
  not understand what Bitcoin is. I think some people understand
• 42:30
  that they are losing the game and so they're sitting there
• 42:34
  freaking out. They're trying to control the on
• 42:36
  and off ramps. They're trying to figure out
• 42:37
  ways to stop Bitcoin, whether it's KYC, AM L, whether it's
• 42:41
  what was the KYC self hosted wallets.
• 42:45
  They're doing whatever they can to stop this.
• 42:47
  But it's becoming more and more clear at least to the average,
• 42:49
  you know, everyday viewer out there, someone that just barely
• 42:52
  takes pays attention to Bitcoin, that they cannot stop Bitcoin.
• 42:56
  And this is the whole point here.
• 42:58
  And the more they try to stop Bitcoin, the more that they
• 43:01
  expose themselves of having little to no power over Bitcoin.
• 43:06
  And then you just compare that you put a mirror up to that to
• 43:09
  the system that they want to basically corral you in.
• 43:13
  And they're proposing just total control.
• 43:15
  Hence why we're seeing a mimetics come out from the
• 43:17
  central bank is because they understand that they got a psyop
• 43:20
  you into your own debt slavery for the rest of humanity.
• 43:24
  And then there's Bitcoin on the other side where they can't
• 43:27
  control it. They're freaking out about it.
• 43:29
  And now we finally have some politicians that are actually
• 43:32
  saying the quiet parts out loud, that they can't control this and
• 43:35
  all of their attacks are just an attempt to gaslight the
• 43:38
  population and gaslight the normie out there into not using
• 43:42
  Bitcoin because they're afraid. Well, this is the beauty of
• 43:45
  Bitcoin. Bitcoin defunds that the huge
• 43:48
  government. Bitcoin defunds this perpetual
• 43:51
  war machine because they never turned off the war machine since
• 43:55
  World War One. And now there's actually a way
• 43:58
  to stop it. And it's by you guys opting out
• 44:00
  saving in Bitcoin and all they can really do is is complain and
• 44:04
  RE and gaslight. In gaslight you into being
• 44:07
  afraid of your literal freedom, literally being afraid of
• 44:11
  walking through the escape hatch and here we are.
• 44:13
  We're on the other side just like waving at everyone and like
• 44:16
  man, it's so much better over here just save.
• 44:17
  It's just saving some Bitcoin. It's literally that easy and and
• 44:20
  again you know Ben said it earlier like for a while there
• 44:25
  we were all wondering whether we were in the then they fight you
• 44:28
  stage and now it's becoming very clear that we're entering those
• 44:31
  early first rounds of then they fight you stage and they're
• 44:33
  going to throw whatever they can at Bitcoin.
• 44:35
  They're going to throw whatever they can at bitcoiners.
• 44:37
  They might even try to lock some of us Bitcoiners in a cage.
• 44:40
  This is what they do. They have the monopoly on
• 44:42
  violence. And now at least we have.
• 44:44
  I I kind of like them, acknowledging the fact that
• 44:47
  they're afraid of Bitcoin. This is why I say all the time
• 44:50
  guys like Brad Sherman and Elizabeth Warren are my favorite
• 44:52
  politicians because at least they're being honest about their
• 44:55
  fear here. They're obviously not being
• 44:57
  honest in any other respect, but they're they're being honest
• 45:01
  about the fact that we know the game here, guys, the game, the
• 45:04
  name of the game is power. And what is the ultimate tool
• 45:07
  power. It is money if he controls the
• 45:09
  money. Money he controls the game.
• 45:11
  Well, they can't control our money, hence why they're
• 45:14
  freaking out and trying to gaslight us.
• 45:16
  Again, and the reason that we're so vocal on it today and like
• 45:19
  we've just gone ham is because Cynthia Lummus and Tim Scott,
• 45:24
  representatives from Congress, have literally confirmed what we
• 45:28
  have been hypothesizing for basically the last nine months
• 45:33
  or so. We've given them the benefit of
• 45:35
  the doubt and they had even them right.
• 45:39
  And and when you say stuff in politics, you kind of have to
• 45:41
  censor yourself a little bit because you don't want to piss
• 45:43
  off the other side of the aisle. And they have even come to these
• 45:46
  conclusions where it's like look like this is about, it's exactly
• 45:49
  what Opti said. This is about control.
• 45:51
  By the way. I don't know what's going on
• 45:53
  with the Super Chats today, but holy cow, we absolutely love you
• 45:56
  guys. Carl, there's absolutely no way
• 46:00
  I'm going to pronounce your last name, but.
• 46:02
  Best producer in the game shouts out to Tatum.
• 46:05
  Turn up between 2A6. Between 2A6 and he says we got a
• 46:10
  super chat from Carl $5 Bitcoin Sounds like Ben coincidence.
• 46:15
  No. Ben Corn.
• 46:16
  Oh, Ben Corn. Corn.
• 46:17
  Coincidence. Oh, oh.
• 46:19
  Very nice, very nice. We got a 6069 $69 super chat
• 46:28
  from Dan on Noster. Appreciate you.
• 46:30
  Thank you, Kevin Johnson. Really appreciate you.
• 46:33
  Damn, bro. I think that's our record for
• 46:35
  super chats. Did we miss any?
• 46:37
  I don't think so. Wow, Thank you guys.
• 46:40
  Really, really appreciate it today.
• 46:41
  Anyways, I'm going to pass it on to Ben.
• 46:43
  Sorry, Ben, we we kind of just went on our soapboxes.
• 46:46
  This is a little bit of vindication for simply Bitcoin
• 46:49
  because these are things that we've been theorizing for the
• 46:53
  last nine months or so just based on the fact that we try to
• 46:57
  stay on top of the news on a daily basis and plugged into the
• 47:00
  news cycle. And then Opti and I just come to
• 47:02
  these conclusions. Opti just took a first principle
• 47:05
  rose approach and he was just like, you know what bro?
• 47:07
  Like, like they're they're straight up like just trying to
• 47:10
  like ban Bitcoin because they can't control it.
• 47:13
  And then I went through that this process of like give them
• 47:16
  the benefit of the doubt. And then I caught like the Wall
• 47:19
  Street Journal article just did it for me.
• 47:21
  I was like, wow, so they they're they literally are using the
• 47:24
  legacy corporate media to try to convince the American populace
• 47:29
  of things that are not true. And the legacy corporate media
• 47:32
  won't even pull that information down because it's clearly
• 47:35
  they're trying to achieve a political end goal.
• 47:37
  Like, yeah, like something's going on here.
• 47:40
  Anyways, Ben, what are your thoughts on this brother?
• 47:42
  Well, the only argument at this point or or previously for the
• 47:47
  government not coming after Bitcoin was if you're arguing
• 47:50
  serious ineptitude. And while that does exist within
• 47:54
  government and there's a ton of things that are falling apart,
• 47:57
  it does also attract a lot of people that are extremely power
• 48:00
  hungry and a lot of people that are extremely smart and
• 48:04
  successful. So they they will figure out
• 48:06
  ways to attack it and will clutch at their waning power.
• 48:11
  But I see this as a A2 sided issue where you have the people
• 48:15
  that are adopting Bitcoin, adopting other freedom tech that
• 48:18
  will likely come to Bitcoin eventually, and then the powers
• 48:22
  that be looking to maintain their power, trying to grab on.
• 48:25
  And there's those two sides, but the majority of people are there
• 48:28
  right there in the middle. And yeah, they've just been
• 48:31
  going along with the current system, but they don't totally
• 48:33
  understand it. Like we said, they don't even
• 48:35
  understand inflation. They don't really understand
• 48:37
  what they're going along with. So they're nominally maybe on
• 48:40
  the state side because that's what they're used to, but they
• 48:43
  ultimately don't have strong beliefs, don't have strong
• 48:45
  feelings. They care about their family,
• 48:47
  their financial future, putting food on the table.
• 48:50
  And both sides are grabbing for those people in the middle to
• 48:56
  build up a consensus and gain power control, just gain a
• 49:00
  foothold. And the bitcoiners where the the
• 49:05
  freedom tech is the the more anti fragile side.
• 49:08
  Yeah, I mean we can get kicked out, we can get crushed on, but
• 49:10
  ultimately you can't kill us. And we we are not going away.
• 49:14
  We might get put down a little bit, but we're not going away.
• 49:17
  Whereas the the powers that be on the other side looking to
• 49:20
  grab people, bring more people into the system.
• 49:23
  All they have to give is welfare, Social Security stuff
• 49:27
  that's like waning and they're losing power in that regard.
• 49:30
  So it's it's these desperate throes of an empire that I was
• 49:34
  going up against an immovable object.
• 49:36
  So it's pretty exciting to be on the side that like ultimately
• 49:42
  will win in the end. In the long term, I think the
• 49:45
  side that you can't kill but there could be a lot of pain in
• 49:49
  the short term. And seeing stuff like this
• 49:51
  really just makes me want to take extra control of all my
• 49:55
  Bitcoin, be a little bit better about my opsec, which is, you
• 50:00
  know, there's almost so good I can be as a as a Bitcoin, Ben.
• 50:04
  But as much as I can do really, just like, I think, yeah, there
• 50:10
  will be jealousy of any Bitcoin gains that people have because
• 50:14
  people feel like they missed out on it.
• 50:16
  And then there's this whole media campaign of trying to
• 50:20
  convince people that the big corners, the crypto people that
• 50:23
  they're lumping in with us are bad.
• 50:24
  So I do expect a decent amount of vitriol, but also a lot of
• 50:29
  people coming to our side maybe a little bit quieter, maybe
• 50:32
  they're like me and go crazy by finding Bitcoin and realize that
• 50:35
  it's the future and have their whole world flipped upside down.
• 50:38
  But it's really coming going to be, I think it's going to be a
• 50:41
  culture war here. I mean, it already is.
• 50:43
  It's red versus blue, but and it's it's realizing that those
• 50:47
  two are against orange and it's it's got to get crazy here in a
• 50:51
  little bit. Man.
• 50:52
  This election season is going to be wild as well even if without
• 50:56
  Bitcoin. But it's it's exciting to be on
• 51:00
  to the next stage, but it also comes with a lot more, a lot
• 51:03
  more risk I would say, for individual bitcoiners, not
• 51:06
  Bitcoin or not Bitcoin itself. A. 100% And I think you, you hit
• 51:10
  something that was spot on, right, which is this idea that,
• 51:13
  you know, it's it's it's not red versus blue, it's really green
• 51:18
  versus orange, right. And that that's really, you
• 51:20
  know, that's really the that's really the kind of like the
• 51:23
  lesson here, right. So you know, it doesn't matter
• 51:25
  where that politician is on the Democratic side or the
• 51:29
  Republican side. Are they for Bitcoin or are they
• 51:32
  against Bitcoin? If you're for Bitcoin, you're
• 51:34
  pro freedom. If you're against Bitcoin,
• 51:36
  you're anti freedom. You're against Bitcoin.
• 51:38
  You're against freedom. Boom.
• 51:40
  Damn, bro. I I was like a lot spicier years
• 51:45
  ago. I I feel like I've toned it down
• 51:46
  a little bit. Have to have to get back on that
• 51:48
  again. But good, good day.
• 51:50
  Good day for for vindication, you know and shout out again to
• 51:54
  David Zell, Bitcoin Policy Institute and of course Bitcoin
• 51:56
  Magazine for live streaming. The whole event, those types of
• 52:00
  events are extremely important, those types of dialogues.
• 52:03
  So shout out to them for kind of hosting it and putting it
• 52:06
  together. Anyways, ladies and gentlemen,
• 52:08
  we have a lot to talk about today.
• 52:10
  Let's hit the news. Let's do it.
• 52:11
  Here we go. The Daily News.
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  Devices. Completely open source anyways.
• 53:38
  So I mean once again, this is like, I feel like I want to call
• 53:42
  this the vindication episode. We've been saying for the last
• 53:47
  couple weeks that Michael Saylor's micro strategy strategy
• 53:51
  has been vindicated. He is up on his investment.
• 53:55
  He's outperforming everything, including the tech stocks,
• 53:59
  including the including commodities, including the S&P
• 54:02
  500, including Bitcoin I might add too, because micro strategy
• 54:06
  is a bit of like a leverage play.
• 54:09
  So and the case that we've been making is like look like it's
• 54:12
  just inevitable before other companies follow in his
• 54:16
  footsteps. Now the case that we've been
• 54:18
  making is for the tech stocks because that's when all hell
• 54:21
  breaks loose and a good way, by the way, that's when you really
• 54:24
  see the floodgates open. And what do I mean by that?
• 54:27
  I mean by a company like Facebook, a company like Google,
• 54:31
  a company like like Microsoft starts adding Bitcoin and
• 54:38
  putting it on its balance sheet and they don't have to do a lot.
• 54:41
  Like if they put one to two to 3% of their so-called cash
• 54:46
  reserves that are literally like a melting ice cube and they put
• 54:49
  that into Bitcoin, just by having one to two to 3% of that
• 54:53
  into Bitcoin, it will overcompensate.
• 54:57
  It will compensate for the loss of purchasing power that they're
• 55:00
  incurring every single year due to inflation.
• 55:02
  Right. I think it will do more and and
• 55:04
  of course it's going to benefit their stock too as well as
• 55:07
  number go up does its thing, right.
• 55:09
  So it's such a no brainer in my opinion, but OK, you got fine,
• 55:14
  you can't. Maybe maybe it was aiming to the
• 55:15
  stars, maybe it was aiming to the moon.
• 55:18
  But it seems like a a Japanese firm called Metaplanet honestly
• 55:25
  sounds like an altcoin. Apparently they decided to mimic
• 55:30
  the micro strategy. Here is a headline by Coindesk.
• 55:35
  It's currently hosted on Yahoo Finance says Metaplanet shares
• 55:38
  Soar as Japanese firm mimics micro strategy on Bitcoin
• 55:42
  buying. Goes on to say Metaplanet stock
• 55:44
  rose 90% after adding 6.56 million in Bitcoin to its
• 55:49
  balance sheet in partnership with Sora Ventures and other
• 55:53
  crypto investors. The move aims to reduce yen
• 55:56
  exposure and offer Japanese investors crypto access with a
• 55:59
  preferential tax structure. Metaplanet 3350A Web 3 See
• 56:06
  Never. Missed Knew it was coming.
• 56:07
  It's always the name bro. The name Anyways, a Web Three
• 56:12
  infrastructure provider, saw its Tokyo listed stock rise almost
• 56:15
  90% in two days after it's saying after saying it was
• 56:19
  adding $6.56 million in Bitcoin to its balance sheet and
• 56:24
  partnership with Sora Ventures, Morgan Creek Capitals, Mark Usko
• 56:28
  and others. The company, which started as a
• 56:30
  budget hotel operator under the name Red Planet before becoming
• 56:34
  a Web 3 software developer, said it is looking to minimize its
• 56:38
  exposure to the Japanese. Yeah, I mean.
• 56:43
  Wait, are we at the the part of the cycle where people just
• 56:45
  pivot into Bitcoin and blockchain, even though they're
• 56:48
  not even close to being associated?
• 56:51
  With it, I just, I just, I kind of let down a little bit here
• 56:53
  because I'm like, yeah, Google and Facebook and Microsoft are
• 56:56
  just going to follow Microstrategy's like, footsteps.
• 56:59
  No, but it's like literally a a a shit.
• 57:01
  Coin Company. Coin hotel chain.
• 57:05
  A shit coin hotel chain. Verify your your hotel safety on
• 57:10
  the blockchain with Metaplanet. The yen, the company wrote in an
• 57:14
  update to shareholders, has been damaged by Japan's generation
• 57:18
  long low interest rate environment that has eroded its
• 57:21
  position as a key global currency.
• 57:23
  In March, the central bank increased short term interest
• 57:26
  rates to point from zero to 0.1% from -.1%, the first increase in
• 57:33
  the for 17 years quote. The company's decision to
• 57:37
  incorporate Bitcoin into its treasury asset is driven by a
• 57:40
  multifaceted understanding of its potential as a hedge against
• 57:43
  inflation, a tool for macroeconomic resilience and a
• 57:46
  basis for long term capital appreciation.
• 57:49
  I mean. My first thought on this is just
• 57:56
  like everyone's going to think that the Michael Saylor model or
• 58:00
  some people are going to think that the Michael Saylor model
• 58:02
  has like been done and they missed out and they're just
• 58:04
  going to start buying crypto on their balance sheet.
• 58:08
  Like let's just push the risk curve a little bit more.
• 58:10
  I mean this is obvious is the crypto company but and the big
• 58:13
  giants will still buy Bitcoin because that's insanely risky to
• 58:16
  them in the in their eyes like that stepping out so far But
• 58:19
  there's it just seems like I wouldn't doubt that there would
• 58:22
  be a lot of smaller companies that are looking to make names
• 58:25
  by being like the first company to hold Solana on their balance
• 58:28
  sheet which. I mean, I mean do.
• 58:30
  You call this job. Look at look at that hockey
• 58:32
  stick up like it looks very similar to and it's not even
• 58:37
  that much like 6.5. Like, it's not that much
• 58:40
  Bitcoin, like $6.5666 million. Like it's not that much in the
• 58:45
  grand scheme of things. That is a real increase though
• 58:49
  90% lightning goes in two. Days the lightning goes, the
• 58:53
  Bitcoin plays. How you save a failing company.
• 58:56
  Shot fired. Shall we talk about this is a
• 59:01
  great I think. Oh, man, shall we talk about it?
• 59:04
  I don't know enough to talk about it, but I think I know
• 59:07
  where you're going. Let's be neutral about it.
• 59:10
  OK, so attempt to be neutral. OK, so oh God anyways.
• 59:18
  Just report the facts. I'll pull up Primal.
• 59:22
  OK, anyways, yeah, I mean, dude, like hockey stick up.
• 59:27
  Like literally kind of similar to micro strategy in that sense
• 59:31
  where the micro strategy stock was going sideways for whoa,
• 59:35
  wrong one, the micro strategy stock was going sideways for
• 59:40
  like literally decades and literally since the 1990s.
• 59:45
  likethe.com, you know, boom and bust and all of a sudden share
• 59:49
  your screen and then all of a sudden and then all of a sudden
• 59:54
  they they adopted MicroStrategy and then the MicroStrategy did a
• 59:57
  stock up. However, there has been
• 1:00:00
  definitely some, yeah, exactly. There's definitely been some.
• 1:00:05
  How do I say this? There's been some turmoil on
• 1:00:10
  Noster. See, Opti has it pulled up.
• 1:00:12
  Let me just screen. So yeah, this is just like same
• 1:00:16
  thing, right? Like literally like a hockey
• 1:00:20
  stick. Like they adopted MicroStrategy.
• 1:00:23
  Their stock was going I. Adopted.
• 1:00:24
  Bitcoin adopted adopted Bitcoin and their stock literally went
• 1:00:30
  up. You know, like over 10 / 1000%
• 1:00:35
  in a matter of years, yeah. And then but there's been some
• 1:00:42
  some interesting, some interesting develops here at the
• 1:00:46
  Tab. There's been some interesting
• 1:00:47
  developments and the full thing, but.
• 1:00:50
  And yeah, So what I'm talking about essentially is of course
• 1:00:53
  Odell Odell about Odell's very, very public figure in the
• 1:00:57
  Bitcoin space. And essentially what's happening
• 1:01:00
  is he transitioned to Noster all like completely he left X, you
• 1:01:05
  know he's for freedom tools. I completely respect that.
• 1:01:08
  I love Noster as a protocol. You can't censor anyone love it.
• 1:01:14
  But there's been a a bit of a How do I how do I phrase this?
• 1:01:17
  A bit of. A controversy?
• 1:01:19
  Controversy that that's the correct word.
• 1:01:21
  And essentially, the controversy is that Michael Saylor has
• 1:01:27
  essentially stopped some of these ETFs from donating to open
• 1:01:33
  source developers all. Right.
• 1:01:35
  So just read from the bottom up and then we'll we'll drop chime
• 1:01:38
  in a little bit so. Odell says one of the big ETFs
• 1:01:41
  was going to donate to open Source devs.
• 1:01:44
  Sailor told them they if Solar Sailor told them if they did it,
• 1:01:50
  he would crush them. So they pulled out of the
• 1:01:53
  commitment. This is not controversial.
• 1:01:57
  If people stop simping and ask Sailor his opinion, he would
• 1:02:00
  encourage you to not support open source devs.
• 1:02:04
  He has actually killed deals to support devs.
• 1:02:07
  He is proud of it. He is wrong and everyone is
• 1:02:09
  afraid to say shit. Then he goes on to say I don't
• 1:02:12
  want to be a Bitcoin influencer. I don't want to be on sailor's
• 1:02:15
  yacht. You have no power over me.
• 1:02:17
  My focus is my family. We will live free and.
• 1:02:22
  And then the cherry on top is this one right here.
• 1:02:25
  And here is of course. Is that Jack?
• 1:02:28
  Yes. Why is he going by the name Dan?
• 1:02:30
  I don't know why it's going by, Dan.
• 1:02:31
  It is his account though. That's his account though, OK?
• 1:02:34
  So Jack, that is. Going by the name Dan, a bit of
• 1:02:38
  a troll is saying that read. Read this.
• 1:02:41
  So there's a response here. So.
• 1:02:45
  Jack says someone basically was saying like Odell's fighting,
• 1:02:48
  and then Odell responds with. Yeah, Odell's responds with
• 1:02:51
  Nope. They both committed to
• 1:02:52
  supporting devs. They are legit.
• 1:02:54
  The other ETF did not support devs.
• 1:02:56
  One specifically was going to and pulled out after talking to
• 1:03:00
  Sailor. I do not feel comfortable
• 1:03:02
  mentioning which one, but it was incredibly disappointing.
• 1:03:05
  I tried to handle it privately but it has been over three
• 1:03:09
  months so felt like it should be made public and then it Jack
• 1:03:15
  Dorsey's just saying it's arc. It's ARC.
• 1:03:18
  So yeah, I mean. Spicy.
• 1:03:26
  Yeah, well, do you have any thoughts on this?
• 1:03:32
  I mean, look, I don't know enough to really opine on what
• 1:03:35
  is actually going on. I'm I'm just kind of seeing the
• 1:03:38
  the surface level stuff that everyone else is talking about
• 1:03:41
  and you know it is pretty crazy. I I don't want.
• 1:03:45
  I'm personally not much of A sailor Simp I I respect him as
• 1:03:49
  someone that is a billionaire and went all in on Bitcoin.
• 1:03:52
  But hearing this you know just taking it on a surface level
• 1:03:55
  kind of rumor mill even though like shouts out to to to Odell.
• 1:03:58
  I'm going to put on my like, conspiracy theory hat like why
• 1:04:01
  would Sailor be against these ETFs?
• 1:04:05
  Well yeah I see that's where that's what I don't know.
• 1:04:07
  I I don't know the background to this.
• 1:04:09
  But I think from what I saw on Twitter that's why people are
• 1:04:13
  people are saying that's why he's so big on calling Bitcoin
• 1:04:16
  property and not necessarily money.
• 1:04:18
  Because I think he literally said on a podcast and again I'm
• 1:04:21
  you got to go verify this. But he based some, he basically
• 1:04:24
  said on a podcast that like he can't call it money or else his
• 1:04:27
  heads on the chopping block. And so maybe these are kind of
• 1:04:30
  the things going forward. I know he's kind of a an
• 1:04:33
  ossification maxi. So I don't know man, it it is
• 1:04:37
  definitely disheartening. I do respect Odell, so I'm
• 1:04:41
  pretty sure he's not just talking out of his ass and and
• 1:04:44
  spitting hot air here. Odell's not talking about his
• 1:04:47
  ass. Exactly.
• 1:04:48
  So I don't know, man. I think this is I I know this
• 1:04:51
  might be like the current thing right now that everyone wants to
• 1:04:54
  talk about. So I I'm gonna kind of really
• 1:04:56
  reserve my opinion until I figure it.
• 1:04:58
  Out like like what is the purpose of that?
• 1:05:00
  Like why is And it's all really like interesting questions.
• 1:05:04
  I'm sure like we'll find out over the next, you know, couple
• 1:05:07
  months or so. But yeah, I mean interesting,
• 1:05:12
  interesting. And then, OK, I have a question
• 1:05:14
  for you guys though. Do you think it's cool that a
• 1:05:19
  publicly traded ETF is supporting is supporting open
• 1:05:26
  source development? Wouldn't that potentially
• 1:05:28
  influence the development that you're developing?
• 1:05:31
  I think that's what everyone's kinda saying.
• 1:05:33
  So I mean, I don't know. The money's gonna come from
• 1:05:36
  somewhere. Like, yeah, he, he who pays the
• 1:05:38
  bills definitely has some influence.
• 1:05:40
  So like. Like if if the if the open
• 1:05:43
  source development is being funded by publicly traded
• 1:05:45
  companies, like doesn't that create like a certain type of
• 1:05:49
  situation? Armin the Parman, the devs get
• 1:05:53
  used to the income then they become subservient to the
• 1:05:56
  employer. Yeah, I mean, like, yeah, like.
• 1:05:59
  So maybe it's kind of? Like turns things.
• 1:06:02
  Funding turns the devs into employees.
• 1:06:04
  I mean, I mean, look, my, my, my hesitation is like we.
• 1:06:10
  Don't have enough information? No, my, it's dude.
• 1:06:14
  Just comment first principles bro.
• 1:06:15
  You used it for Elizabeth Warren and Co, right?
• 1:06:20
  OK, like if the funding is coming from public companies in
• 1:06:28
  these ETFs, you can make the argument that if a lot of the
• 1:06:32
  funding is coming from these ETFs, then they're gonna have an
• 1:06:34
  influence on the development of Bitcoin.
• 1:06:38
  Wait, wait, sorry. I was reading the chat.
• 1:06:40
  What'd you say? If a if a if a bulk of the ETF
• 1:06:44
  funding is coming from publicly traded ETFs, you could make the
• 1:06:49
  argument you can make the case that that will have an impact on
• 1:06:54
  the development of Bitcoin or what is being developed on
• 1:06:56
  Bitcoin and is that a positive thing or is that a negative
• 1:06:59
  thing? I would slow.
• 1:07:01
  I would like literally put that in the negative.
• 1:07:03
  Yeah, I was going to say I'm leaning more negative guys,
• 1:07:05
  especially when you know what the that one caveat in the
• 1:07:09
  BlackRock ETF where they can fork to whatever Bitcoin they
• 1:07:12
  want. And that's a great like, let's
• 1:07:15
  personify it right? Do you really want Larry Fink
• 1:07:17
  funding open source devs? That doesn't even make sense.
• 1:07:22
  Like, that doesn't sound good. Like, could you imagine it's
• 1:07:24
  like, yes, the development has to be ESG friendly, like, no
• 1:07:28
  bro. Like, I'm a little bit hesitant.
• 1:07:30
  I understand what Odell's saying.
• 1:07:31
  I get it. You know what?
• 1:07:33
  I the money, the money is going through the filter of open
• 1:07:36
  SAT's, so it's not like it's it's both.
• 1:07:38
  It's coming directly from these ETFs.
• 1:07:41
  But it is. So it's going to OK, I get it.
• 1:07:43
  So it's going it's going through Odell's Open SAT's.
• 1:07:48
  Yeah, which is why he's so close to this and he's also passionate
• 1:07:51
  about the whole thing. But yeah, if you're worried
• 1:07:53
  about maybe Odell or just like the consortium of open Sats
• 1:07:58
  having too much power, the answer is just, yeah, more
• 1:08:01
  direct, more different sources of funding and also more
• 1:08:04
  different ways of distributing. Because, I mean, I think a lot
• 1:08:08
  of us agree that open source building is important for this
• 1:08:12
  common technology that we have in Bitcoin.
• 1:08:14
  And if you want to see something built yet, you may have to fund
• 1:08:19
  it. And there's going to be, there's
• 1:08:21
  going to be a ton of people funding Bitcoin development for
• 1:08:24
  yes, a ton of nefarious reasons, but also a ton of good reasons.
• 1:08:28
  And I'm happy to see more money come in, hopefully moved in in
• 1:08:33
  good ways. I hate to say I trust, but I I
• 1:08:38
  do appreciate Odell's perspective on this and and the
• 1:08:42
  way they set up Open Sats to distribute the money.
• 1:08:46
  But the more money that comes in, the more insulated Bitcoin
• 1:08:50
  is from other pools of money throwing, throwing a bunch in to
• 1:08:55
  develop on top of it. So the more money that's in
• 1:08:57
  there, the more money it takes to influence.
• 1:09:01
  And I mean, it's all coming. It's all all of this is going to
• 1:09:04
  come. There will be more development
• 1:09:06
  on Bitcoin, there will be a ton of money thrown into it.
• 1:09:09
  And I'm happy to see it being put through what I think is a
• 1:09:14
  good filter in Opensats. But it'll continue coming in a
• 1:09:18
  bunch of different ways. Yeah, 100 percent, 100%.
• 1:09:22
  All right, everybody. Before we move on to the next
• 1:09:25
  segment to talk to Ben about his project, I do want to give a
• 1:09:29
  very special shout out to one of our sponsors.
• 1:09:32
  And of course I'm talking about the Orange Pull app.
• 1:09:35
  The Orange Pull app is the Bitcoin social layer.
• 1:09:39
  You have to stack friends who stack Sats.
• 1:09:41
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• 1:09:43
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• 1:09:46
  So it probably be a good idea to stack those Bitcoin or friends.
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  The Orange Pill app is one of the best places to connect with
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  fellow bitcoiners. They have this very clever
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  filtration system so that you won't find any alt coiners or
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  any scammers on the platform. On the app I'm personally on
• 1:10:02
  there, the Simply Bitcoin group chat is currently in the video
• 1:10:06
  description of the podcast description.
• 1:10:09
  You, Opti and I are tend to be very lively there and you can
• 1:10:12
  connect with us very, very quickly.
• 1:10:14
  And it's also a great resource for when you are in a new city
• 1:10:18
  and potentially you don't know anybody.
• 1:10:20
  If you pull up the orange pull up, it will tell you the
• 1:10:23
  bitcoiners around you, so it gives you the ability to connect
• 1:10:26
  with them. If you want to create a Bitcoin
• 1:10:29
  only event, it's the number one resource to do so and it's a
• 1:10:32
  great way to advertise that event as well.
• 1:10:35
  So I highly recommend checking out the orange pull up if you
• 1:10:38
  want to reach to. If you want to reach out to me
• 1:10:40
  and Opti directly, just download the app, send us a message, You
• 1:10:43
  could find us on there. I'm at Nikko, and you will You
• 1:10:47
  could send us a message. And I tend to take the time
• 1:10:49
  every so often to reply to each and every single one of you.
• 1:10:53
  So, guys, what are you waiting for?
• 1:10:54
  Download the Orange Pill app today.
• 1:10:56
  All right, everybody, let's get to the culture.
• 1:11:01
  The Daily Culture. All right, everybody else.
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• 1:11:52
  All right, everybody. I do want to talk to Ben, and
• 1:11:57
  Ben is a, how do you say Avenger?
• 1:11:59
  A Ventur? A Ventur.
• 1:12:01
  I see. I remember, bro.
• 1:12:02
  I remember. Is that wrong a vinner?
• 1:12:04
  Vinner. Yeah, you both got it wrong.
• 1:12:06
  What is it, Vinner? Vintner.
• 1:12:08
  Oh, vintner. It's very fancy, Very fancy.
• 1:12:11
  OK, so we're going to talk to a Bitcoin vintner.
• 1:12:15
  And dude, so I'm going to hijack this a little bit.
• 1:12:19
  Opti, how'd you get into the winemaking in the first place?
• 1:12:23
  I grew up on a farm where my dad grew all his own food and got
• 1:12:27
  convinced to He planted a few acres of grapes, farmed it for a
• 1:12:32
  few years, and once they started producing, he figured he might
• 1:12:34
  as well produce his own wine. And so he'd been doing that for
• 1:12:37
  15 years, more as a hobby than a business.
• 1:12:40
  And when I was like 25, I was having a quarter life crisis
• 1:12:43
  knowing I wanted to start a business but couldn't figure out
• 1:12:45
  what, and decided to hop into winemaking because I figured if
• 1:12:51
  my dad could figure it out, I could.
• 1:12:53
  And five years in now I'm just released my third vintage, and
• 1:12:59
  it's it's been a hell of a ride. So make a natural wine like he
• 1:13:03
  did, which is wine with a wild fermentation, which is the wild
• 1:13:07
  yeast in your vineyard actually ferments as opposed to adding a
• 1:13:10
  cultured yeast. And what that does is it proves
• 1:13:14
  the the quality of your farming methods.
• 1:13:16
  So you're not spraying with a ton of herbicides or pesticides
• 1:13:19
  that would disrupt the microbiome.
• 1:13:22
  And then it also brings a bit of localized flavor.
• 1:13:25
  So that yeast that ferments the wine brings in a ton of creates
• 1:13:29
  a ton of flavor within the wine. And if you're doing a wild
• 1:13:33
  yeast, then literally those characteristics cannot be found
• 1:13:36
  anywhere else in the world. It also has no toxic additives
• 1:13:40
  and super minimal sulfites. So I do meet a lot of people who
• 1:13:45
  don't drink wine because it makes them feel crappy the next
• 1:13:48
  day or while they're drinking it, they get headaches.
• 1:13:50
  And with Penny Lane and other natural wines, it's pretty wild
• 1:13:56
  how good you feel afterwards. You just, like, you don't get
• 1:14:00
  hungover from drinking it. It's it's pretty wild.
• 1:14:03
  Like my birthday was last week and I drank a ton of my wine and
• 1:14:08
  I went to bed and kind of had like a crazy realization that it
• 1:14:12
  it wasn't like the realization was, Oh my God, I didn't even
• 1:14:16
  think about being hungover tomorrow.
• 1:14:19
  That's not even in my mindset that I would think about being
• 1:14:22
  hungover from drinking tomorrow. I just feel good the next day
• 1:14:25
  after drinking my wine and I it's amazing to be able to like
• 1:14:28
  have a good night out with with friends, celebrate a special
• 1:14:31
  occasion and not pay for it the next day.
• 1:14:34
  And that's what you can get with with natural wine and pee
• 1:14:36
  specifically. Interesting.
• 1:14:38
  What is it about natural wine that doesn't give you a
• 1:14:41
  hangover? And also I just got to mention
• 1:14:43
  like Bitcoin. Wait, huge fan of anything that
• 1:14:46
  doesn't give you a hangover? I'll tell you right now.
• 1:14:50
  So yeah, dropping truth bombs update.
• 1:14:53
  But dude, I love Bitcoin, bro. Bitcoiners are just so bro.
• 1:14:58
  Like, it's so crazy what happens when you adopt A Bitcoin
• 1:15:01
  standard. You start doing really wholesome
• 1:15:03
  cool shit. Wait, wait, wait.
• 1:15:05
  Is is buying a bottle of Peony Lane a better store of value
• 1:15:10
  than saving in Bitcoin? I think.
• 1:15:15
  When, look, the Satoshi's reserve, we'll see.
• 1:15:18
  I mean that that could pay. No, that probably won't outpace
• 1:15:21
  Bitcoin, but it'll definitely outpace the dollar.
• 1:15:23
  What I think about is like, we know wine gets better with age,
• 1:15:27
  right? And it's not going to get better
• 1:15:30
  at 100% compound annual growth rate like like Bitcoin.
• 1:15:35
  But wine gets better with age and I think when you look at the
• 1:15:38
  Bitcoin standard going into the future, how much better we get
• 1:15:42
  at producing things where the value of money is with a fixed
• 1:15:45
  monetary standard, I'm super interested to see if I mean it's
• 1:15:49
  certain wines, it's high quality wines, different wines age
• 1:15:52
  differently depends on how much is produced.
• 1:15:55
  But I think you can make a an argument that wine will maintain
• 1:16:01
  its value on a Bitcoin standard during the Bitcoin monetization
• 1:16:05
  phase by Bitcoin. Can we can we talk about that
• 1:16:09
  for a SEC? Cuz could we talk about that for
• 1:16:10
  a SEC? So what is it about natural
• 1:16:12
  wines that doesn't give you hangover?
• 1:16:14
  What is it about like the non natural wines that give you
• 1:16:18
  hangover? Like, what's the difference?
• 1:16:19
  And why is it that bitcoiners always do like the wholesome,
• 1:16:22
  healthy shit like? Because you need to, you need to
• 1:16:25
  usher these stats in for the long.
• 1:16:27
  Term, there has to be like some type of connection between
• 1:16:30
  Bitcoin or like adopting a sound money standard and just like
• 1:16:34
  adopting a better form of living.
• 1:16:35
  Like there's definitely a connection there which is just
• 1:16:38
  absolutely crazy. So what are your thoughts, man?
• 1:16:41
  Well, growing up on the farm and seeing how hard my dad worked
• 1:16:46
  and eating, literally eating the the benefits of that labor, I
• 1:16:50
  was pretty predisposed to thinking long term, which is why
• 1:16:53
  I got into Bitcoin. So I would just say that people
• 1:16:57
  that do stuff like this are already predisposed.
• 1:17:01
  They're the low hanging fruit to get into Bitcoin whenever they
• 1:17:04
  eventually find it with natural wine.
• 1:17:08
  One thing to understand about wine, especially United States,
• 1:17:11
  is there's no ingredients list required on a bottle of wine.
• 1:17:15
  And what you think is, oh, it's just the grapes, right?
• 1:17:18
  Grapes make wine. That's all it is.
• 1:17:20
  It's not. There's so many other things
• 1:17:21
  added to wine, and the poster child of all those things is
• 1:17:24
  sulfites. Sulfites are used as a
• 1:17:26
  preservative. They're also, they're used to
• 1:17:28
  protect the wine from both oxygen and anything that lives
• 1:17:33
  in your wine, which is important.
• 1:17:34
  There's a microbiome that literally creates your wine.
• 1:17:37
  It's the yeast, it's the bacteria, It creates all the
• 1:17:39
  flavors. Sulfites kill that, and what you
• 1:17:41
  can do is kill that before fermentation and then add your
• 1:17:45
  yeast, Or kill it after fermentation and and add a ton
• 1:17:49
  to protect it from oxygen. That is just insanely overdone
• 1:17:55
  in American wine. A lot of people do have
• 1:17:57
  reactions to that specifically, but it's also the only thing
• 1:18:01
  people know about where, like I said, there's tons of
• 1:18:03
  ingredients. So it literally could be any one
• 1:18:06
  of those things that people are having a bad reaction to.
• 1:18:08
  But when you nail down what wine is, and it's literally just when
• 1:18:12
  it can just be the grapes, you feel good.
• 1:18:15
  It turns out like, I'll I mean, you're going to, if you stay up
• 1:18:19
  late drinking a ton of wine, your your sleep's going to be
• 1:18:21
  bad. I'm not saying, like you're just
• 1:18:22
  going to feel like 1,000,000 bucks the next day, but it's a
• 1:18:26
  pretty wild difference when you drink conventional wine versus
• 1:18:29
  natural wine that the headache just kind of disappears.
• 1:18:32
  My first experience with that was actually after I started
• 1:18:36
  making wine. I knew natural wine was cool.
• 1:18:38
  You get cool with flavors. But I was 25.
• 1:18:41
  Like, I didn't get the hangovers that I was used to that like I
• 1:18:44
  get now. So you know it.
• 1:18:46
  I didn't really realize it, but I bought a $100 bottle of wine
• 1:18:52
  that at that time was, like, insanely nice for me.
• 1:18:55
  Shouldn't have bought the bottle, brought it over to a
• 1:18:56
  friend's house for Christmas and started drinking it.
• 1:18:59
  It was a Cabernet Sauvignon from California, and I got a headache
• 1:19:04
  like halfway through that first glass and I kind of knew what
• 1:19:10
  was happening. But all I did was I dumped out
• 1:19:12
  that glass of wine and poured myself another glass of wine,
• 1:19:15
  but from my bottle. And that headache went away and
• 1:19:18
  I kept drinking the whole night. So it's it's really just that
• 1:19:21
  it's the additives within the wine that make you feel like
• 1:19:24
  crap. They're not necessary, but they
• 1:19:26
  lead to a more consistent product, a more manipulatable
• 1:19:30
  product and a higher time preference product.
• 1:19:33
  One that you can get out to a mass market a lot easier.
• 1:19:37
  You can manipulate the flavor to fit exactly the what the person
• 1:19:40
  wants, whereas what I'm making is more of what nature intended.
• 1:19:44
  I'm trying to keep my hands off the line.
• 1:19:46
  I'm trying to just let it do its thing and because I think it
• 1:19:48
  will create and it has created an amazing product.
• 1:19:51
  But if you're really going for that the Super high dollars,
• 1:19:56
  super fast time to liquidity and no matter what line is slow, you
• 1:20:00
  don't want to take those risks where smaller producers or low
• 1:20:06
  time preference producers specifically like European
• 1:20:08
  producers a lot of times. Will produce this high quality
• 1:20:12
  national wine that is sorely missing in America.
• 1:20:16
  Love it, Love it. OK, let's, let's get to the
• 1:20:18
  topic of pan, why we brought Ben back on.
• 1:20:21
  Let's talk about the Satoshi reserved auction on scarcity.
• 1:20:25
  So maybe, I guess since so you've been talking about wines,
• 1:20:28
  what's the process on this wine? What's make this one special?
• 1:20:32
  And then we can go into the auction and all the deadlines
• 1:20:34
  and all that good stuff. Of course.
• 1:20:36
  So I started my winery in 2019 and didn't sell any wine until
• 1:20:42
  summer 2021, which is after I already paid for the grapes that
• 1:20:45
  were making this wine. But in 2020 I fell down the
• 1:20:48
  Bitcoin rabbit hole when I was building my house, and so the
• 1:20:52
  next wine I got to make was this 2021 vintage as a bitcoiners,
• 1:20:58
  the first wine I ever made, like as a bitcoiner.
• 1:21:00
  And so while I was making it, I was always thinking, like, what
• 1:21:04
  I It'd be so cool to brand this in a Bitcoin way, sell it for
• 1:21:08
  bitcoiners. If I could sell it for Bitcoin,
• 1:21:11
  that'd be cool. As I kept diving down the
• 1:21:14
  Bitcoin rabbit hole, it just like became more and more
• 1:21:15
  obvious that that that would be an amazing thing for me to do.
• 1:21:19
  And what I did was, if I'm going to sell it for Bitcoin, if I'm
• 1:21:23
  going to make it this special Bitcoin bottle, I have to make
• 1:21:25
  it my apex wine because Bitcoin's the apex predator for
• 1:21:28
  money. So what I did is I chose my best
• 1:21:31
  barrel. And what another thing people
• 1:21:33
  don't understand about wine is every barrel tastes slightly
• 1:21:35
  different. Everything's going to be a
• 1:21:38
  little bit different in different ways.
• 1:21:39
  And so I just went through, as I normally do.
• 1:21:42
  I tasted all the wine and then I pulled out my best barrel of
• 1:21:44
  all, all my wine, bottled it 210 bottles, and now it's my Bitcoin
• 1:21:51
  wine. So selling wine for Bitcoin has
• 1:21:54
  been both. I prefer it, it's really easy in
• 1:21:57
  person, but online has been difficult for me because of
• 1:22:00
  alcohol regulations and dealing with my third party provider of
• 1:22:04
  liquor licensing. And so this is legitimately the
• 1:22:08
  first time this auction is the first time I've ever been able
• 1:22:11
  to say that this wine is being sold for Bitcoin only, which is
• 1:22:15
  pretty awesome for me because that's a long term goal.
• 1:22:17
  I mean I would love to not be able to, I'd love to say no to
• 1:22:21
  people that want to pay for my labor in Fiat, but realistically
• 1:22:25
  I need the money to pay my bills.
• 1:22:26
  All my bills are in Fiat. And so this is kind of like the
• 1:22:29
  the fulfillment of a three-year process and making the wine and
• 1:22:32
  going down the rabbit hole and in getting closer to being
• 1:22:38
  Bitcoin only. So the three lots are bottle #1,
• 1:22:41
  which you're looking at, which has I'm blown away by this bid.
• 1:22:47
  That's that's super awesome. Bottle 21, which also has a
• 1:22:53
  ridiculously high bid, And then the bottles two through 20.
• 1:22:58
  So those bottles two through 20 are if you bid the highest, you
• 1:23:02
  get first choice, so you can get bottle #2, or you can get bottle
• 1:23:05
  #7 if that's the number you prefer.
• 1:23:07
  And then these bottles are the only way.
• 1:23:09
  If you bid on these options. This is the only way to get wine
• 1:23:12
  Satoshi's reserve in time for the having.
• 1:23:14
  So if you're looking to celebrate the having with
• 1:23:16
  Satoshi's reserve, you got to pay me in Bitcoin.
• 1:23:18
  You got to win one of these auctions and then after this
• 1:23:23
  auction ends, I'll get the wine to people and then when the
• 1:23:27
  halving happens, when that finally comes, I'll release the
• 1:23:30
  remainder of the 210 bottles and those will be first come first
• 1:23:34
  serve on my website p&elanewine.com.
• 1:23:38
  Yo, shouts out the SAT stacker. Whoever that is.
• 1:23:40
  On scarcity, bro. He's got the highest bids on IS.
• 1:23:44
  That goat. I don't know it.
• 1:23:46
  He's got the highest bids on the first bottle and the 21st
• 1:23:49
  bottle. Absolute legend.
• 1:23:51
  Yeah, absolute legend. Anyways, guys go to scarce city
• 1:23:54
  right now and. Scarce dot city It's on the
• 1:23:57
  first page. Dot City and check out Satoshi's
• 1:24:01
  Reserve to get yourself some some awesome wine by a fellow
• 1:24:06
  Bitcoiner. Was it Winter Vindner?
• 1:24:10
  Vindner. Vindner.
• 1:24:11
  Vindner. Anyways, anyways, guys, thank
• 1:24:14
  you so much for tuning in today's show.
• 1:24:16
  I do want to give a very special shout to our guest, Ben.
• 1:24:19
  Thank you. So Ben 69, thank you so much for
• 1:24:21
  joining us today and representing the Council of
• 1:24:24
  Bens. I appreciate it.
• 1:24:26
  And bro, the Bends just have wine makers and.
• 1:24:29
  You know I'm a go on record. I think I'm becoming a little
• 1:24:32
  more pro Ben after today's show shout out to the anti bend.
• 1:24:37
  But you know me, I'm a I I sit on the fence and today I'm, I'm
• 1:24:40
  feeling a little pro bed. Bars, pens.
• 1:24:43
  Appreciate you. I'm a Pro Ben Propagandist on
• 1:24:48
  today's show. Anyways guys, if you enjoyed the
• 1:24:51
  show and you want to do smash that like button, consider
• 1:24:54
  subscribing if you feel like we provided you value.
• 1:24:56
  But the number one thing you could do to help push the
• 1:24:58
  peaceful Bitcoin revolution. Share Bitcoin content, share
• 1:25:00
  Bitcoin culture. That includes wines, music,
• 1:25:03
  media, anything. Share some Bitcoin.
• 1:25:09
  Shout out to I think we got $140.00 or something in super
• 1:25:13
  chats today. So shout out to everybody in the
• 1:25:15
  audience for supporting the show.
• 1:25:16
  Really, really appreciate it. Thank you Ben, for joining us.
• 1:25:20
  We got lightweight. Before we go though, before we
• 1:25:22
  go, Nico Ben, where where can people find you?
• 1:25:25
  For the audio listeners, the YouTube YouTube gets it.
• 1:25:28
  But for the audio listeners, where do you where do you want
• 1:25:29
  to push people? Yeah.
• 1:25:31
  So the auctions going on, it'll end at 3:00 PM Eastern Time
• 1:25:35
  tomorrow. I can only shipping in the
• 1:25:37
  United States so more of a United States thing for all my
• 1:25:40
  wine actually. But it is scarce dot city.
• 1:25:45
  So period scarce dot city. Ask the regulators, man, they
• 1:25:49
  they want to keep my wine in the United States.
• 1:25:51
  And then my website is P&E Lane wine.com.
• 1:25:55
  So Peony Lane wine.com. That's where I ship all my other
• 1:26:01
  wines all around the United States.
• 1:26:03
  They're all the same super high quality natural wines, a bunch
• 1:26:06
  of different varieties on there. And then you can find me on
• 1:26:09
  Twitter at Ben Justin. Yeah.
• 1:26:13
  Also guys, Ben, Ben is not, yeah, let me mute Nico.
• 1:26:17
  Ben is not just a a Ventner, he's actually a prolific memer
• 1:26:22
  in his own rights. So go follow him on Twitter.
• 1:26:24
  We got a Ventnor memer. Bitcoins are awesome.
• 1:26:28
  Oh my God. Okay.
• 1:26:30
  Anyways, guys, smash the like button.
• 1:26:31
  Consider subscribing. We'll see you tomorrow for a
• 1:26:33
  brand new episode live from Dallas, TX of Simply Bitcoin
• 1:26:38
  Live. And we'll be live from the
• 1:26:40
  Bitblock boom floor on Saturday to stream you guys the
• 1:26:44
  conference and also to do some panels in between some kind of
• 1:26:49
  intermissions and all that. So we love you all, appreciate
• 1:26:52
  y'all, and we'll see you on the next one.
• 1:26:55
  Peace out, everybody. So it was brought to you by
• 1:27:00
  bitcoinwell.com, a Bitcoin only platform on a mission to enable
• 1:27:04
  financial independence.