Latest / Simply Bitcoin / ITS OFFICIAL: The 4 Year Cycle is BROKEN: Prepare NOW | EP 1356

Transcript

ITS OFFICIAL: The 4 Year Cycle is BROKEN: Prepare NOW | EP 1356 · Simply Bitcoin

• 0:00
  Is someone suppressing the price of Bitcoin?
• 0:03
  Because Bitcoin is crashing, making everyone question whether
• 0:06
  the four year cycle is over. This is the worst 18 months
• 0:10
  after a halving in Bitcoin's history, and at the same time,
• 0:14
  gold has been rallying and breaking out to new all time
• 0:17
  highs, doubling over the past 12 months.
• 0:20
  However, over $1 trillion of capital was wiped off gold's
• 0:24
  market cap this morning. So is Bitcoin about to play
• 0:28
  catch up to gold? That is the question.
• 0:31
  The question is, are cycles over?
• 0:34
  All right guys, of course I'm not alone.
• 0:36
  I got Sophie with me here and of course I got our friend Paul
• 0:40
  Tarantino, AKA the Tom Cruise of Bitcoin, CEO of byte federal.
• 0:46
  How's it going everyone? All right guys, so First off,
• 0:49
  look, let me let me let me full screen myself guys.
• 0:53
  I I know you guys were calling me a fake maxi yesterday and you
• 0:56
  were saying I was fighting, but this morning I am actually
• 0:59
  feeling extremely bullish. So I'll make my case for a
• 1:02
  while. I'm bullish.
• 1:03
  Are you? Are you sure it's just not
• 1:05
  'cause you're feeling better because the price?
• 1:08
  Well, I, I, I am, I am feeling a little better, but I am more
• 1:12
  bullish, OK. So of course, guys, in the gold
• 1:16
  market, gold has retraced about 3%, which doesn't really seem
• 1:21
  like a lot in the grand scheme of things.
• 1:23
  But again, gold is added basically multiples of the
• 1:28
  Bitcoin market cap in the last couple of weeks.
• 1:31
  Well, really over the last year. And a 3% move in gold is
• 1:35
  essentially a trillion dollars off the market cap.
• 1:37
  And this is kind of what I'm looking at.
• 1:39
  This is kind of what my vibe is saying.
• 1:41
  I'm I'm vibes, I'm vibe trading here.
• 1:43
  And I really like this tweet that gold has reached euphoria
• 1:46
  phase. Remember, I was telling you guys
• 1:48
  yesterday that it seems like gold has found its exit
• 1:52
  liquidity. You've been seeing retail lines
• 1:54
  of people trying to buy gold and there is a theory going around
• 1:58
  right now about what is going on in the gold markets.
• 2:00
  A lot of people are saying that the powers that be, whoever you
• 2:04
  want to say that is, is actually letting the gold price run so
• 2:08
  that they can, you know, potentially revalue EU s s gold
• 2:11
  holdings. So the market suppressors in
• 2:13
  gold are off. That's why it's running so much.
• 2:16
  And as we know, Bitcoin usually follows gold's move.
• 2:20
  So if this chart is true, of course, this is this is some,
• 2:24
  you know, some chart butchering here.
• 2:26
  But zooming in here, you can see the gold price on top of the
• 2:30
  Wall Street psychology chart. It does look to match up.
• 2:34
  I know this is this is chart crimes.
• 2:35
  This is some chart crimes, I'll admit, I will admit this is some
• 2:38
  chart crimes and and maybe kind of pick cherry picking here, but
• 2:44
  it is very interesting to see gold retrace.
• 2:47
  Of course, bitcoins getting naked right now and everyone's
• 2:49
  wondering why, considering that the initial drop was around the
• 2:53
  trade war. Now it seems like the trade wars
• 2:55
  are off, gold is retracing, S&P 500 is kind of doing all right,
• 3:01
  Bitcoin is getting new, and we're all like, what is going on
• 3:05
  here? I do have some more theories on
• 3:07
  the gold price, but I'm going to get a a general sentiment vibe
• 3:11
  here from Sophie and Paul. I'm going to go with Paul first.
• 3:16
  Paul, what do you think is going on with the gold?
• 3:19
  Do you believe in this theory of them reprice or letting gold run
• 3:23
  so that they can reprice their gold holdings and then
• 3:26
  potentially that is going to eventually end up in Bitcoin?
• 3:29
  And well, I do believe that they're going to reprice the
• 3:31
  gold and I think they would like to see, I think they would just
• 3:34
  like to market to market. They don't want to do something
• 3:38
  like OK, gold's trading at 4000. We we want to price gold at
• 3:41
  10,000. I mean, I think that's obviously
• 3:43
  an option if if things went off the rails real fast.
• 3:47
  But no, they need to reprice gold that will help fix the
• 3:51
  balance sheet at the at the treasury level.
• 3:54
  So yeah, I see that coming. And I think you're right.
• 3:57
  I think there's going to be a future of of gold at $10,000 an
• 4:03
  ounce. And I think that the market will
• 4:06
  take it there and then we'll mark to market.
• 4:09
  Yeah, totally it. It seems like that.
• 4:11
  It doesn't mean that's going on. You know, gold's going to 10,000
• 4:14
  this month. There could be some radical, you
• 4:17
  know, just, you know, volatility between now and then.
• 4:20
  Well, I, I am, I'm glad you brought that up because I, I do
• 4:23
  have a secondary theory on, on what's going on with gold.
• 4:27
  But as we are seeing right now, the gold market isn't really
• 4:31
  getting pushed by retail. Yes, we're seeing lines of
• 4:33
  retail kind of, you know, stack up so that people can get their
• 4:36
  hands on gold. But it does seem like the gold
• 4:40
  market is being driven by institutions, AKA the central
• 4:42
  banks. Everyone is moving away from the
• 4:44
  dollar right now. There's this general fear of the
• 4:47
  quote debasement trade and of course, they're all going into
• 4:50
  gold. So that, that is definitely
• 4:51
  what's going on. I'm, I'm going to, I'm going to
• 4:53
  switch the, the question a little bit for self because self
• 4:57
  is over here just freaking out about the price.
• 4:59
  So how are you feeling this morning?
• 5:01
  I'm I'm feeling like I'm feeling like this is all on purpose.
• 5:08
  There's some shenanigans going on because I was promised a bull
• 5:11
  market and I was promised October and this is nothing of
• 5:15
  the sort and the math isn't mapping.
• 5:20
  Yeah, yeah, one, yeah, 100. Sorry, I don't know if you guys
• 5:23
  heard the back end, but something popped up.
• 5:27
  Yeah, I, I literally, so guys, you know, I, I've been ship
• 5:30
  hosting heavy this morning because as me and Paul were
• 5:32
  talking about earlier, hey, at least we get some volatility
• 5:35
  back into back into the markets. I was so relieved to see Bitcoin
• 5:40
  finally drop this morning. Like finally we like let's let's
• 5:44
  break 100, let's do something either either collapse 50 to 70%
• 5:49
  so I can buy more or at a great price or or just fucking run one
• 5:53
  or the other. I'm done with this 100K.
• 5:57
  Yeah, Totally, totally. As long as we're doing
• 5:59
  something, it feels good. As as long as the move, the
• 6:03
  price is moving in one way, then we're good to go.
• 6:07
  Actually, guys, I think our Internet's acting up over here.
• 6:10
  So drop A1 in the chat if, if this is even live on YouTube, I
• 6:14
  think it's live. I'm seeing the chat come in, but
• 6:16
  our YouTube back end, OK, there we go.
• 6:19
  OK, it looks like it looks like we're back live.
• 6:21
  Yeah. I was like, hey, my TA for the
• 6:24
  day is they want you to sell your coin.
• 6:27
  So don't sell your coin right now.
• 6:28
  This does seem like institutional kind of price
• 6:32
  suppression to keep the price down so that they can get a good
• 6:37
  position that that. OK, we're getting one to the
• 6:39
  chat. OK, So if it's just the
• 6:41
  Internet's acting up over here, guys, yeah, we're getting a zero
• 6:44
  in the chat. So they're trolling me.
• 6:45
  They're trolling me live. OK, we're getting one.
• 6:48
  Yeah, it does seem like there is some shenanigans going on in the
• 6:50
  market right now and they are trying to keep the price down,
• 6:54
  though. I, I was kind of trolling with
• 6:56
  my friend. Like the WIC off distribution is
• 6:58
  bullish, guys. Like we finally closed the WIC
• 7:00
  off distribution. I, I literally, I don't even
• 7:02
  know what that means, to be honest.
• 7:04
  I, I have no clue what WIC OP is, but you did talk about
• 7:07
  volatility in gold. And this, this is my secondary
• 7:12
  theory of I don't know if this is exactly what's going on, but
• 7:16
  there is some parallels to history that are very
• 7:18
  interesting. And of course, like every
• 7:20
  Bitcoiner, it goes back to Weimar Republic and what happens
• 7:23
  when you see hyperinflation in an economy.
• 7:27
  And of course, this one is not so much.
• 7:29
  Well, I do have a picture of them, you know, moving bricks of
• 7:31
  bricks of dollars like it's useless.
• 7:34
  But this one is very interesting.
• 7:35
  Gold priced in Weimar marks. And of course that volatility
• 7:39
  was super crazy over a, you know, 9 year period.
• 7:42
  And so if we are entering a similar type of scenario where
• 7:45
  you are seeing the fears from institution, you are seeing
• 7:49
  traders look at the debasement trade and wonder are we in some
• 7:55
  sort of hyperinflationary scenario.
• 7:57
  But this isn't just in one country.
• 7:58
  This is a global scenario. And again, here's like the
• 8:01
  zoomed in the high volatility of gold, maybe this is what we're
• 8:05
  seeing right now. And then here is the zoomed out
• 8:07
  version of this and this is where it gets, it's a little
• 8:10
  interesting because this almost looks exactly to what the gold
• 8:14
  chart is looking today. It just, you know, volatility
• 8:19
  and then going absolutely parabolic.
• 8:21
  And you may be thinking, look, you're a Bitcoin of your region.
• 8:24
  Well, we are seeing this happen in certain currencies today,
• 8:28
  specifically in the yen. Gold in Japanese yen has
• 8:32
  exploded 300% since 2025, proof of a currency in freefall.
• 8:37
  So I don't know guys, you know, I know I'm cherry picking here
• 8:41
  and I will go back, but this parabolic run we are seeing in
• 8:46
  gold is, is not as bullish I think as everyone is making it
• 8:50
  out to be. Yes, gold is running extremely
• 8:53
  high, but it really makes you think that there's something
• 8:56
  fundamentally wrong in the plumbing right now.
• 8:58
  There's something going on and we kind of covered at the tail
• 9:01
  end of the show and there was more data coming out.
• 9:03
  But it does seem like there is a crisis in regional banking right
• 9:07
  now. There's there's crazy stuff
• 9:09
  going in in regional banking markets right now.
• 9:11
  Stocks are getting naked. We're seeing there's low
• 9:14
  liquidity on their balance sheets, there's low liquidity in
• 9:17
  the repo markets, so. We're about to print.
• 9:23
  The big print is coming, yeah, so.
• 9:27
  You have to have the pain before the pump. 100% that's where we
• 9:31
  are right now anyways. So much pain though, I feel so
• 9:36
  much pain and I'm I'm just ready to put like, listen, last year
• 9:41
  October was a nothing burger and then everything happened in
• 9:45
  November. And I remember back in 2017,
• 9:49
  nothing happened up until December and then the beginning
• 9:52
  of January everything dumped. So, you know, things might just
• 9:58
  still be very volatile. I know that we've been saying
• 10:00
  it's the end of cycles and you know, this is stability coming
• 10:04
  to Bitcoin, but this is kind of making me feel like the old
• 10:07
  days, like this is the wild, Wild West right now.
• 10:10
  Nobody knows what is about to happen.
• 10:13
  Everybody is up in limbo and I, you know, I'm tired of the pain,
• 10:19
  Opti. I'm tired of the pain.
• 10:21
  I've suffered enough. Yeah, I mean, hey, at least at
• 10:24
  least something, at least something is there.
• 10:26
  And actually, Sophie, you were right.
• 10:28
  I I think I think our stream went to a different YouTube.
• 10:31
  Stream So I let everybody in the other chat know to come to this
• 10:36
  stream if you guys can share this link with your friends.
• 10:40
  Smash the like button 'cause we're getting naked in the
• 10:42
  algorithm. Well, they'll pop in.
• 10:44
  They'll pop in right now. They'll be here, you know,
• 10:48
  things happen over here. The Internet's acting up on me.
• 10:50
  The internet's acting up. And also like this is a new
• 10:53
  studio, we're still getting used to the setup.
• 10:54
  No, no no. This was a YouTube Internet.
• 10:57
  We're also streaming a conference in Canada, right?
• 11:02
  Yeah, crazy stuff coming. Up lots of stuff is happening in
• 11:05
  the back end. If you guys could help us out by
• 11:07
  sharing this video with your friends, smashing the like
• 11:10
  button, subscribing to our channel, that would be really
• 11:14
  really great and helpful. All that good stuff.
• 11:16
  OK, well, I will nuke the other one in a minute.
• 11:20
  I'm going to try to get people over here and then, you know,
• 11:24
  we'll see what happens. We'll see.
• 11:25
  Are people popping off in there yet?
• 11:27
  No, no, no. OK, maybe I'm just going to nuke
• 11:30
  it in the meantime. Paul, are you are you
• 11:32
  experiencing an increase in volume?
• 11:35
  Are people smashed buying this dip or what?
• 11:38
  Tell me. No, it's it.
• 11:40
  It's never quite like that in the ATM space.
• 11:43
  We have very consistent flows like even in really bad bear
• 11:48
  markets, our flows only go down about 10%.
• 11:52
  So it's, it's pretty consistent regardless.
• 11:56
  A lot of people, you know, we just keep, we just, they just
• 11:59
  keep buying. We will, we will see small like
• 12:02
  upticks and, and and bull markets when things like really
• 12:06
  start to RIP, we'll see our volume increase.
• 12:09
  But yeah, no, generally it's pretty steady.
• 12:12
  Well, that's good. I mean that means that people
• 12:14
  are dollar cost averaging. But do you think that that
• 12:18
  indicates the possibility of a supply shock coming very soon?
• 12:24
  Is that I mean, I think that's why people were migrating into
• 12:28
  gold in the first place and then the fact that it's being wiped
• 12:32
  out just indicates to me that they're like people need money
• 12:36
  people need because the cost of living is so expensive
• 12:39
  day-to-day they. You know people need jobs in the
• 12:42
  chat so. There you go.
• 12:45
  I mean, if, if, if that's the case, then, you know, maybe this
• 12:48
  gold run is like very short lived because, you know, money
• 12:52
  today is money today and and people need it for tomorrow and
• 12:55
  for it to last till the end of the month.
• 12:58
  So and we're only on the 7th 17 pay.
• 13:01
  Maybe people bought on their paycheck day and then just like
• 13:05
  ripped it. You know yeah that's that's the
• 13:07
  signal here guys it's payday and you get some cheap sets.
• 13:10
  So I did promise you guys I I am going to you know I know I know
• 13:15
  the last time I chart boarded last Friday it it it absolutely
• 13:18
  naked on me, but I'm not convinced that this is the end
• 13:22
  of the cycle guys I'm I'm looking at some stuff and it's
• 13:26
  it's honestly making me feel super bullish.
• 13:28
  So even though we're seeing this volatility right now, I think
• 13:32
  we're setting up for something great guys.
• 13:34
  Again, ever since the ETF was launched, ever since the
• 13:37
  institutions entered Bitcoin, the price has been acting a
• 13:41
  little differently. And it does seem to have this
• 13:44
  kind of dump before the pump. As the meme goes, it's always
• 13:47
  dumpiest before it's pumpiest and we have seen it do these 30%
• 13:52
  corrections and then start ripping.
• 13:54
  As Wicked tweeted, is it the beginning of the end or just
• 13:57
  another bull market pullback for Bitcoin?
• 14:00
  And I think that's the real question here.
• 14:02
  I really like this one from Altcoin Daily that it's so over.
• 14:05
  It's all over. This is literally since the ETF
• 14:08
  was launched. You'll see it, it'll dump and
• 14:10
  then it'll start pumping. It'll dump.
• 14:11
  It'll hit the basically the fifty week moving average and
• 14:16
  then it'll start ripping. So it seems like we are right
• 14:20
  there again, hitting the 50 week moving average and it looks like
• 14:23
  it's going to start ripping. I'm I'm on the fence that we are
• 14:26
  going to start ripping the the great redistribution from gold
• 14:30
  into Bitcoin. I think it's still on the
• 14:32
  horizon, guys. I think it's the perfect setup
• 14:34
  to to maintain our bullishness. Yeah, Somehow I feel like this
• 14:38
  dump is just signaling that we might have like the biggest pump
• 14:43
  of our lives. I mean, after all, this has been
• 14:45
  kind of a boring bull market and I think that maybe we needed
• 14:50
  this dip, the last dip of all dips, I am hoping.
• 14:54
  Famous last. Words famous.
• 14:56
  Last words definitely not going to be the last dip.
• 14:58
  So no, definitely not. The last dip but like.
• 15:01
  God, the last one of the season. Last one of 2025.
• 15:05
  Oh God of the sea of the cycle. Come on, we've, we've been
• 15:09
  through a lot since 2021. Let's be so for real.
• 15:13
  We all got cut short. Our excitement, our emotion just
• 15:17
  went down the drain after that China mining ban and we didn't
• 15:23
  get the bull market that we deserved to then.
• 15:25
  And I feel like this really needs to make up for it because
• 15:28
  the stage is set there. Like, I don't understand what
• 15:32
  could break us down at this point.
• 15:35
  Even with the, the tariffs on China, we are about like they,
• 15:40
  they're, they're about to make a deal.
• 15:42
  They're, you know, investing a ton of money.
• 15:46
  Donald Trump just was named one of the biggest whales in
• 15:49
  Bitcoin. the US just became one of the biggest holders of
• 15:53
  Bitcoin. No matter whether, you know,
• 15:55
  they seized it or not, that we have it, we have it, it's in our
• 15:59
  custody. So something's got to give.
• 16:03
  Something's got to give. I think you're right.
• 16:05
  I think you're right. I think we've got so much bad
• 16:08
  news right now with, you know, we've got.
• 16:11
  The tariffs, it's not even that bad news.
• 16:13
  It's not. Well, I mean bad news in regards
• 16:16
  to liquidity, right? So the the tariffs, the.
• 16:19
  Which is good news from us. The government shutdown, you
• 16:23
  know that the government shutdown is kind of akin to
• 16:25
  dodging, right where all of a sudden these people aren't going
• 16:28
  to have jobs and get paid. So there's going to there's a
• 16:31
  little bit of a liquidity crunch, but like you said on the
• 16:34
  horizon, there's another rate cut.
• 16:36
  There's any a minute a tweak come from Donald Trump that
• 16:41
  changes everything right? And not frustrating about this
• 16:44
  market is that it's, it's, it's so driven by his social media
• 16:51
  presence and his his whim at the moment or whatever his
• 16:54
  negotiation tactics are at the moment.
• 16:56
  So, but it when everything's bearish and the fear and greed
• 17:00
  index is getting more bearish, if it gets a little bit more
• 17:03
  bearish, when one tiny bit of good news comes out, this thing
• 17:06
  will turn on a dime. And actually, I think that's
• 17:08
  where we're at. I actually like this video I saw
• 17:12
  this morning on Twitter that Andrew Tate dropped about how,
• 17:17
  you know, things could always get worse.
• 17:19
  You could, you know, lose your family, have the worst day of
• 17:22
  your life and on the way to the morgue, you could get into a car
• 17:25
  accident yourself. And he made the point at the end
• 17:29
  that, you know, people are there's going to be people who
• 17:32
  are going to lose all of their money and then the price is
• 17:35
  going to pump. And that's usually been the
• 17:37
  story of everybody's life. Who And that's why it's so
• 17:41
  important to hold. That's why we always like make
• 17:44
  the memes and make the case self custody and hold don't sell.
• 17:48
  And you will be rewarded for enduring this pain, I hope.
• 17:54
  Yeah, it's 100%. I totally agree and yes when we
• 17:58
  get the pain I get excited. Yeah, well, me and Luke, we're
• 18:02
  talking this and guys, OK, you guys want to know a, a new real
• 18:06
  indicator here that that me and Luke were doing this morning is
• 18:09
  even Luke is starting to feel concerned, which he's for.
• 18:13
  Paul, if you don't know our our boy Luke, he's like the most
• 18:16
  bullish person ever. Luke Makich, he, he got pulled
• 18:19
  in the chat. He, he always says, he said at
• 18:22
  one time on the show like, dude, it's going to $7 billion per
• 18:25
  coin. And the chat is never forgotten.
• 18:27
  All right. My indicator is even Luke is
• 18:29
  getting a little concerned, which makes me be even more
• 18:33
  bullish because like again, we are trading, or rather, we are
• 18:36
  dealing with human psychology in the Bitcoin market.
• 18:39
  And when even the true believers start looking at the price and
• 18:41
  we're like, man, it is starting to get a little hairy.
• 18:45
  That's when you know it's going to get really pumpy is because
• 18:47
  people that been in the market for a while are sitting here
• 18:50
  like, oh man, are we really going into a bear market?
• 18:52
  Like, damn, it's really over, isn't it?
• 18:55
  And when that happens, when the true believers start to lose
• 18:58
  stop to lose conviction in the price going up, that's probably
• 19:01
  when it's going to start ripping.
• 19:02
  But Paul, I do want to ask you, we have been theorizing here,
• 19:06
  maybe speculating. Well, we have a new rumor here
• 19:08
  at Simply Bitcoin is the idea that now we have the Larry Finks
• 19:12
  and the Donald Trump's of the world that there are
• 19:15
  incentivized to not let this thing crash anymore because
• 19:18
  their reputations are on the line.
• 19:20
  Do you think that that holds water?
• 19:21
  Do you think there's some credence to this idea that,
• 19:23
  yeah, maybe they're suppressing the price a little bit, but
• 19:26
  they're probably not going to let this thing dump because
• 19:29
  again, they want to make gains. And I was making this case to
• 19:31
  Nico the other night. I'm like, dude, like you think,
• 19:34
  Larry, thinking all the institutions just getting into
• 19:36
  Bitcoin, you think they aren't kicking themselves and being
• 19:39
  like, I want 10,000% gains on this thing.
• 19:42
  I want to make all these gains things too.
• 19:44
  So I just think we have this unlimited bid on Bitcoin now and
• 19:49
  the institutions being here are just they're going to buy up all
• 19:52
  the Bitcoin. So it's never really going to
• 19:53
  drop that low. If it's dropping to a certain
• 19:55
  level, it's because they're trying to pack their bags.
• 19:59
  I I agree with the last part. I, I just, I, I feel like I've
• 20:03
  always believed, even when I was in Tradfi, that the powers that
• 20:08
  be. But if they want an asset,
• 20:10
  they're going to do whatever it takes to get that asset.
• 20:12
  And so this is, this is makes it precarious for bitcoiners and
• 20:17
  why the hodling meme is so damn important because you might feel
• 20:23
  like you missed Bitcoin at 100K. There's no, there's no reason
• 20:28
  why you can't can't get another opportunity at this thing.
• 20:31
  So you should be every but every one of us should be looking at
• 20:34
  downside as a massive gift because I you're 100% right in
• 20:39
  the long term vision, right in the long term, say the next 5 to
• 20:44
  10 years, they have a massive incentive to pump Bitcoin.
• 20:49
  But you know, this asset has been a peer-to-peer network
• 20:55
  driven asset bubble. So why would you, if if you're
• 20:59
  Wall Street and you missed out on that and now this is your
• 21:02
  opportunity, you're going to do everything you can to grab as
• 21:05
  much Bitcoin as you can before you let it RIP.
• 21:08
  And I think, I think we're, we, I think that's why it's been
• 21:11
  chopped solidation all year is there's a lot of whales or new
• 21:16
  whales, right, new whales, Wall Street and institutions,
• 21:18
  etcetera, that that need to get feel like they need to get a big
• 21:21
  bag of Bitcoin ASAP. And and so shenanigans that drop
• 21:27
  the price, they're going to take advantage of it.
• 21:29
  And and we need to take advantage of it too.
• 21:31
  Yeah, 100%. I'm, I'm fully convinced that
• 21:33
  these shake outs are just that. They're shake outs.
• 21:35
  They want you to sell your coin right now.
• 21:38
  The true believers, they want to get your coin.
• 21:40
  Remember, most of the coin is being held by people in cold
• 21:43
  storage, so there's not that much coin to go around.
• 21:45
  And these guys are coming in supposedly like me and Paul were
• 21:48
  saying earlier, supposedly buying billion dollars of
• 21:51
  Bitcoin and yet the price is doing nothing.
• 21:53
  So. But there's also like the
• 21:54
  billion dollar sellers, there's the billion dollar sellers too,
• 21:57
  right? If if you started in 2011, 2012,
• 22:00
  2013 and you're sitting on billion dollar worth of Bitcoin,
• 22:07
  how much more do you need as an individual, right?
• 22:10
  I mean that there's a lot of people where that that kind of
• 22:13
  money is like now having that much money is a bigger problem
• 22:16
  than trying to make that much money.
• 22:18
  So. So I.
• 22:19
  Completely agree with you there. And and I was making that case,
• 22:23
  you know, when we saw a small dip when somebody sold I think
• 22:27
  like 8000 Bitcoin or something like that.
• 22:29
  They were like a long time whale and they made a sell.
• 22:33
  And at the same time being a whale, you're, you've held on
• 22:39
  for this long. Why wouldn't you hold a little
• 22:42
  bit longer until we get to the all time high of this cycle?
• 22:48
  You know what I'm saying? Like well well, but 100K was 100
• 22:51
  was an all time high for like that was the moon shot for a lot
• 22:54
  of people. But more is more.
• 22:56
  Yeah, more is more, but, but more is also like more in how do
• 23:03
  I, how do I describe this? Like because I have a background
• 23:06
  in traditional finance, it's a Trust Company where we're
• 23:09
  dealing with wealthy people and how they pass that to their
• 23:12
  heirs and the different structures associated with
• 23:15
  distributing that wealth. And so when you have a massive
• 23:21
  bag of Bitcoin, you know, you're looking at the world totally
• 23:27
  differently now because you have 10X20XA100X more than you really
• 23:31
  need to maybe live the lifestyle you enjoy living.
• 23:35
  And then it becomes, you know, we're thinking about like, do I
• 23:39
  want to donate? Do I want to structure for
• 23:43
  future generations? Do I want to create endowments?
• 23:46
  And, and so they start, they start looking at the world just
• 23:49
  differently. It becomes a capital
• 23:50
  preservation mindset as opposed to an accumulation mindset.
• 23:55
  And and and in that, selling some Bitcoin might be part of
• 23:59
  their plan. Yeah.
• 24:01
  Yeah. Totally, totally.
• 24:03
  Someone in the chat, someone in The Jets says October.
• 24:07
  It's not October, it's not October, it's October.
• 24:10
  I resent that person. Obviously, guys, I the more the
• 24:14
  more the simply Bitcoin chat gets bearish, the more bullish I
• 24:18
  get, the more October, the more I see all my friends on Twitter
• 24:22
  starting to get bearish and concerned.
• 24:23
  Like I had that one friend. I think he's still in the chat
• 24:26
  right now. I've been trolling with him that
• 24:28
  it's over. The more people start to believe
• 24:31
  like he does, it means we're going up.
• 24:34
  Guys, I was trolling this morning.
• 24:37
  Saddle. Yeah, that, and honestly, that's
• 24:40
  how I know it is bullish is because like I've even been
• 24:44
  trolling Taniko. I talked to him last night for
• 24:46
  like an hour and I talked to him this morning and it was the same
• 24:49
  conversation. It's like, dude, Bitcoin is
• 24:51
  over. Like I got rug pulled.
• 24:53
  I'm going to sell out of my position.
• 24:55
  And like everyone knows I'm not serious about that.
• 24:58
  But the fact that you're even joking about it, I think it's
• 25:01
  just showing the sentiment of where the markets are and it
• 25:03
  makes me feel like it's going to start ripping.
• 25:05
  I'm I'm just I'm I'm convinced it's we're over.
• 25:10
  All right, guys, we, we have a jam packed show for you.
• 25:13
  Of course, I want to remind you guys too smash the like button,
• 25:17
  of course, subscribe and comment.
• 25:19
  Let's know what you think about the studio.
• 25:20
  There's still, there's still people that hang out with us
• 25:22
  that haven't seen the new Stew. We're in the new Stew guys.
• 25:26
  Super hyped on it. We've been stealth building for
• 25:28
  a minute. Of course, I also want to give a
• 25:31
  huge shout out to our boys over at Bitcoin.
• 25:33
  Well, go to bitcoinwell.com/simply and stack
• 25:37
  real Bitcoin. Make sure you are using
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  exchanges that can never rug pull you and Bitcoin well is
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  they will take care of you and make sure it is secure for
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  generational wealth. OK guys.
• 26:21
  So for the rest of the show, I have a new clip from Charles
• 26:24
  Schwab. They're saying some interesting,
• 26:27
  interesting things about Bitcoin on Wall Street.
• 26:30
  And then everyone's favorite, Dennis Porter actually, I think
• 26:35
  came actually kind of delivered. I, I would, I could argue kind
• 26:38
  of delivered. We'll we'll discuss.
• 26:40
  This this is a controversial take, OK, but we're going to
• 26:44
  break down why we feel. That, well, self, self, self
• 26:47
  probably will. I'm just going to cover the
• 26:49
  news, break it down. I, I don't know.
• 26:51
  So yeah, I don't know Selfie's series over here.
• 26:53
  And then of course, we have Paul here.
• 26:55
  So we're going to talk all things by federal and
• 26:57
  interesting, interesting new development that they're working
• 27:00
  on. I, I was going to troll a little
• 27:02
  bit on it, you know, since, since, since we're all losing
• 27:04
  out on games, your, your new development is, is perfect, bro.
• 27:09
  Anyways, guys, we'll be right back after this commercial
• 27:11
  break. Give us about 60 seconds.
• 27:20
  I want to. Give a shout out to our partner
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  and use promo code simply to get 15% off anything on the Stamp
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  se-ed.com store. All right.
• 28:33
  Oh wait, wrong one. Hi, guys.
• 28:36
  OK, so here is the lovely stamp seed plate and you can customize
• 28:41
  whatever photo you want in the back.
• 28:42
  You can even get a picture of Opti like the one that I have on
• 28:45
  my desk right now. He's like, don't do that.
• 28:50
  Yeah, let's zoom out. All right, check.
• 28:51
  Check this out guys I did this because I was living at his
• 28:56
  house for a little bit and it looks like I'm like I'm not
• 28:59
  alive anymore it's. Like a memorial, it says Opti
• 29:02
  lived here AD 2025. Dad, jokes on fleek.
• 29:05
  Anyways, the current Bitcoin price is let me get over here.
• 29:09
  The current Bitcoin price is $106,700.
• 29:13
  Guys, it's completely over. Sell your bags it it was a good
• 29:16
  run. We pumped a little bit.
• 29:21
  We were. Yeah, it was at one O 3.
• 29:23
  It was at one O 3, but we're, we're back anyways.
• 29:26
  We're at a decline from all time high of -15.4%.
• 29:30
  The market cap is $2.13 trillion and the current block height is
• 29:34
  919,535. All right guys, so let me see.
• 29:39
  I I honestly, the Internet is having trouble over here.
• 29:42
  So hopefully this video uploaded on you on us.
• 29:46
  If not, we'll figure it out. But Charles Schwab on CNBC this
• 29:51
  morning saying some interesting things about the appetite for
• 29:54
  Wall Street and Bitcoin. Let's play it.
• 29:58
  Yes, we've been active in both. So in crypto we do offer crypto
• 30:03
  ETFs, Bitcoin futures, closed end funds.
• 30:06
  In fact our clients own 20% of all the crypto exchange traded
• 30:09
  products in our country. So they've been very active.
• 30:12
  We've seen visits to our crypto site go up 90% in the last year.
• 30:16
  It's it's a topic that's of high engagement.
• 30:18
  And for privates, we have made private investments available to
• 30:22
  our clients. We've done through through third
• 30:25
  party managers like KKR and Apollo and folks like that.
• 30:28
  And we've also stood up a team of alternative experts.
• 30:32
  If you want to invest in alternatives at Schwab, you're
• 30:34
  going to need to talk to a professional and make sure
• 30:36
  they're right for you and to make sure you find the right
• 30:38
  strategy for, for you guys. The right, the real professional
• 30:43
  is us over here, guys. You don't need to offer that.
• 30:46
  Just get the free alpha from simply Bitcoin YouTube.
• 30:49
  No, but the real thing that I wanted to talk about was the
• 30:52
  middle, middle portion of that where obviously they really
• 30:55
  didn't have much crypto stuff on their site, but they've seen a
• 30:59
  90% increase in traffic searching for that.
• 31:02
  And I think that is where the signal is.
• 31:04
  Yes, I know this year's been kind of slow.
• 31:06
  We've had really good news stories, but the price has
• 31:08
  literally been like non existent all year long.
• 31:12
  But. Believe it or not, this is
• 31:14
  probably the first year, the first cycle ever where I've had
• 31:19
  people reach out to me and my family wanting to buy because
• 31:22
  the big the price dipped. So I think people are starting
• 31:26
  to realize the opportunity that they have on their show, on
• 31:29
  their hands. And yeah, it's, it might be
• 31:33
  that, you know, if they're feeling like that, I usually use
• 31:36
  my friends and family as like the normie radar of of my life
• 31:41
  and. There's one in the room with us
• 31:43
  right now. And everyone's buying the dip
• 31:46
  this time. It's unbelievable.
• 31:48
  It's like they finally learned from the last two cycles that,
• 31:51
  hey, maybe I should like not buy at the top.
• 31:54
  I don't know. No, we buy tops.
• 31:56
  You buy tops as generous own timestamps.
• 31:59
  We buy tops because we know it goes up.
• 32:01
  But for normies, the fact that they're buying when Bitcoin is
• 32:06
  dipping, this is like incredible.
• 32:08
  I feel like this is, you know, a step forward.
• 32:11
  They've advanced in their learning and they're on to the
• 32:14
  next step of taking the risk and buying when it's low.
• 32:18
  Yeah, and I and I think that's really kind of what he said, you
• 32:22
  know, that people are very interested in Bitcoin now that
• 32:25
  it is becoming, you know, a common kind of conversation
• 32:30
  piece now where if you understand anything about
• 32:33
  finance right now, Bitcoin is one of those conversations, even
• 32:36
  if it's like the ugly, you know, red headed stepchild of the
• 32:39
  conversation, at least it's still in the conversation.
• 32:41
  And and I've been saying for a while that I think 2025 is that
• 32:45
  year where kind of the foundations get built, where OK,
• 32:48
  a lot of these products are being offered now.
• 32:51
  The institutions are starting to get in.
• 32:52
  You're starting to see at the tail end of the year, they're
• 32:54
  pivoting to try to position themselves as the middle man.
• 32:58
  Obviously, we don't believe that you should be buying from them.
• 33:01
  You should just try to buy Bitcoin directly.
• 33:03
  You literally don't need quote UN quote, the experts to tell
• 33:06
  you what to do. You just need to buy Bitcoin and
• 33:08
  hold it. Because that.
• 33:09
  Because now there's this other element, right?
• 33:12
  Put aside the experts. We have experts, quote UN quote,
• 33:16
  at the palm of our hands. Now, more people now than ever
• 33:19
  are using AI in their daily lives.
• 33:22
  And so what's to say that they're not using ChatGPT or
• 33:26
  other AI services or whatever, Especially for, you know, people
• 33:29
  who are trading stocks, whatever.
• 33:31
  Like we know that they've been using AI to know how much to
• 33:35
  buy, when to buy, when to sell. Who's to say that they're not
• 33:40
  using these bots to to do it themselves?
• 33:43
  They don't really need the experts anymore.
• 33:46
  We are the experts now, you and me.
• 33:48
  We have the information at the palm of our hands.
• 33:51
  And, and I think that that might actually be part of it because
• 33:54
  back in the day, brokers and human beings didn't have the
• 33:58
  incentive to tell people to get into Bitcoin.
• 34:01
  Where is their Commission for that?
• 34:03
  Where is the, where is the, the, the right now?
• 34:06
  These people had to join like they, they couldn't beat us, so
• 34:10
  they had to join us. And that's where you get the
• 34:12
  ETFs and all of these new financial instruments that
• 34:15
  they're offering in said crypto. But the reality is I think a lot
• 34:21
  of people are being led by the information giving to them,
• 34:24
  given to them in AI guys, in podcasts and in all these like
• 34:29
  modern media tools that weren't available the last cycle.
• 34:35
  Yeah, well, I have a 42 IQ, so I'm not an expert in anything.
• 34:39
  Guys, All I'm going to say is buy Bitcoin and hold it.
• 34:42
  You learn through experience. This is the best way to learn
• 34:45
  through pay. Yeah, exactly.
• 34:47
  Anyways, Paul. I, I agree with Sophie 100%.
• 34:52
  I believe what Sophie said is, is totally accurate.
• 34:56
  The, the Wall Street crowd has never, they've totally missed
• 35:00
  this asset from the beginning. They've never had an incentive
• 35:04
  to sell it, promote it, talk about it, endorse it.
• 35:07
  And now all those incentives are lining up.
• 35:10
  And for the vast majority of the wealth in let let's say the the
• 35:15
  average high net worth investment manager, they have
• 35:18
  discretionary trading authority over their clients accounts.
• 35:22
  And so those, those guys are incentivized to buy the dip,
• 35:25
  right. So they're going to look at the
• 35:27
  market with a much more level head than an emotional retail
• 35:31
  investor. And so they're going to buy on
• 35:35
  pull backs. They're going to have an
• 35:37
  allocation target that also means they're going to sell when
• 35:40
  the allocation gets too high. So it just creates a, a, a less,
• 35:45
  a less volatile but more widely adopted asset over time.
• 35:50
  And so I think that's that's that has a lot to do with it
• 35:53
  with what we're seeing this year.
• 35:55
  Totally, 100%. We are seeing the tide shift in,
• 36:00
  in like in real time. And obviously we would like
• 36:05
  things to happen a lot quicker, but I think they're happening at
• 36:08
  the right time, right? Everything's happening exactly
• 36:11
  as planned. And man, this really makes me
• 36:14
  think the 2026 won't be a bear market.
• 36:19
  I guess, yeah, right. I mean, that's an interesting
• 36:21
  comment. I kind of, I go back and forth,
• 36:24
  right. It depends on what the chart
• 36:25
  looks like when I look at it. Yeah, like.
• 36:29
  Today it's over. It's.
• 36:30
  I mean, but no, the chart today makes me feel like, wow, we
• 36:34
  could see this, this RIP down to say 70 and then and then rocket
• 36:41
  into 2026. I mean, I, I, I, I could see
• 36:44
  that being painted on the chart. I could also see us turning real
• 36:48
  quickly and, and running up to 150 K here, you know, in the
• 36:52
  next week or two. So yeah, I don't know.
• 36:55
  All I know is that when things get really ugly, I, I, I got to
• 36:59
  find money to buy. And when things get really
• 37:02
  aggressive, I need to not FOMO. Yeah, 100% it's always pumpiest.
• 37:08
  Wait dumpiest before it is pumpiest and it and it is super
• 37:12
  dumpy right? Now I mean the fear and greed
• 37:14
  index. Fear and greed index, I think
• 37:16
  this morning. Yeah, it's a total fear.
• 37:17
  Yeah, it's a total. Fear.
• 37:19
  I mean, usually when I think it's around like single digits,
• 37:22
  high single digits, low double digits, like between 9:00 and
• 37:25
  11:00, something like that, then it's like you, you just better
• 37:28
  go dig up the coffee cans in the backyard because it's time to
• 37:32
  buy. Paul, you're, you're feeding.
• 37:35
  You're feeding the bears in the chat, you said 75 K and they're
• 37:38
  saying delicious. Yeah, let's take it.
• 37:41
  I'm ready. Bears feeding the bears in the
• 37:43
  chat. All right, guys.
• 37:44
  One more commercial break and we'll be right back to talk
• 37:47
  about what's happening in California.
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• 40:26
  All right, guys. Guess what?
• 40:28
  Guess what? We got a huge breaking, Huge
• 40:30
  breaking from Dennis Porter. Well, we'll, we'll do a huge
• 40:35
  breaking and then we'll, we'll, we'll actually break down a
• 40:38
  little bit. So Dennis Porter, huge breaking.
• 40:39
  California passes law to enable the state to custody Bitcoin and
• 40:43
  digital assets. The 4th largest economy in the
• 40:45
  world will soon be holding Bitcoin.
• 40:47
  This is incredibly bullish. Dude.
• 40:51
  He's so good at what he does. I'm not going to lie, guys,
• 40:53
  Dennis Porter is really good at what he does.
• 40:54
  But looking at the law a little more closely, like he literally
• 40:59
  tweeted and then what he posted, it's slightly different.
• 41:02
  It's it's slightly different to what he posted here.
• 41:04
  So Satoshi action fund posted California passes landmark
• 41:08
  policy. The, excuse me, the 4th largest
• 41:11
  economy in the world will soon custody Bitcoin in digital
• 41:13
  assets. California has made history with
• 41:16
  the passage of Senate Bill 8/22, a ground breaking law that
• 41:20
  allows the state to custody Bitcoin and other digital assets
• 41:23
  in their native form under the unclaimed property law.
• 41:26
  This landmark policy positions the world's fourth largest
• 41:29
  economy at the forefront of responsible fiscal innovation.
• 41:32
  Digital assets are no longer a thing of the future, they are
• 41:35
  part of everyday life and SB-822 make sure California laws keep
• 41:39
  up with innovation and that people's property is protected
• 41:42
  no matter the form it takes. This gives consumers confidence
• 41:46
  in our system and shows that government can adapt responsibly
• 41:48
  as to technology advances. Now the state can confidently
• 41:51
  keep California's digital assets safe using the same trusted
• 41:55
  unclaimed property process that protects stocks and other
• 41:58
  financial assets. So previously, unclaimed digital
• 42:01
  assets were sold for cash when transferred to the state.
• 42:04
  But with SB-822, it modernizes the system and allows the state
• 42:09
  to hold Bitcoin and other digital assets in its native
• 42:12
  form through licensed custodians, preventing forced
• 42:14
  liquidation and preserving market value.
• 42:17
  The state controller must now hold digital assets for up to 20
• 42:19
  months before any conversion to cash.
• 42:22
  So there's the news that the TLDR is basically if you lost
• 42:27
  your Bitcoin in California or you had left your Bitcoin on
• 42:29
  exchanges for a certain amount of time, they, they kind of put
• 42:33
  this under this unclaimed property law.
• 42:35
  They confiscate that Bitcoin, but before they would basically
• 42:40
  liquidate your Bitcoin holdings, put it in cash, and then if you
• 42:44
  ever were able to claim that property again, they give you
• 42:46
  the cash equivalent of Bitcoin. Now, with this new law,
• 42:50
  technically they will be custodying Bitcoin and holding
• 42:53
  Bitcoin, but they're basically just not going to liquidate your
• 42:57
  Bitcoin position. And so you'll receive Bitcoin if
• 43:00
  you claim it again in the future.
• 43:02
  That's the TLDR of this. But Soph does have an
• 43:05
  interesting theory here. She's speculating a little bit.
• 43:08
  I, well, we can break this down because I, I wasn't fully
• 43:10
  understanding. I rather, I really wasn't
• 43:12
  listening this morning. So Sophie, Sophie, I was, I was
• 43:16
  busy doing the show. I was busy trying to get stuff
• 43:18
  ready. So Sophie, what what is your
• 43:20
  take on this? OK, so this is my take, trying
• 43:24
  to give the government the benefit of the doubt, which I
• 43:27
  never do, which I never do. And I want to make the caveat
• 43:33
  that this law, first of all, keep your Bitcoin in self
• 43:37
  custody. I'm going to say that again,
• 43:39
  keep your Bitcoin in self custody.
• 43:42
  This is not a law that applies to people who keep their Bitcoin
• 43:48
  in self. No further take your Bitcoin off
• 43:50
  exchanges. Take your Bitcoin off of
• 43:53
  exchanges and put it into self custody.
• 43:55
  If you're not doing that then you're going to have a very bad
• 43:59
  experience with this law. With that being said, this law
• 44:05
  does not apply to people who have their Bitcoin in self
• 44:10
  custody. What do I mean by that?
• 44:11
  This might apply to, you know, an older individual who bought
• 44:17
  their Bitcoin on an exchange. They think that they have
• 44:20
  Bitcoin. What they really have is an IOU
• 44:23
  and you know, suddenly that person gets dementia or has a
• 44:28
  disability or whatever you have to put on your.
• 44:32
  You know, I live in California and I voted for this hat.
• 44:36
  And think about the the fact that these people believe that
• 44:41
  the government is protecting, you know, these individuals,
• 44:46
  disadvantaged individuals, right?
• 44:50
  So that's who the law is for. It's for somewhat maybe somebody
• 44:54
  who is, you know, unhoused and somehow has Bitcoin on an
• 44:58
  exchange couldn't afford a wallet and they they can't have
• 45:02
  access to a computer to log in and get to reclaim their
• 45:06
  Bitcoin. They can through the government.
• 45:10
  It's going to take weeks and months, of course, but I think
• 45:14
  that this law ultimately protects people who are holding
• 45:17
  Bitcoin and are in disadvantage situations.
• 45:21
  You know, sometimes we really do got to check our privilege and,
• 45:24
  and, and realize that these people do exist out there.
• 45:29
  And so and you got to realize that a lot of people in
• 45:32
  California think like this. So that is the only the only way
• 45:38
  that I could possibly think of as to why.
• 45:43
  Oh, and the other angle. You said something about like
• 45:45
  property rights or? Something well, yeah, that now
• 45:47
  the the California government is looking at Bitcoin as property.
• 45:52
  That's the signal here is that if they're going to be holding
• 45:56
  Bitcoin, they're they're really seeing Bitcoin as property.
• 45:59
  However, they will not hold your Bitcoin in self custody
• 46:03
  indefinitely. They will likely sell it for
• 46:06
  cash. You know, I'm take I look
• 46:10
  totally fair what you said I'm I'm taking the opposite view
• 46:14
  here. This sounds like.
• 46:17
  That's my view. I know I actually like I
• 46:20
  distrust the government. I would never I I pray that I am
• 46:24
  never in this situation, but unfortunately like I really got
• 46:27
  to put on like I'm trying to be empathetic, OK.
• 46:31
  Honestly, this sounds like a good way for the California
• 46:35
  government to steal your Bitcoin and then hold that Bitcoin and
• 46:39
  claim, you know, the gains on that Bitcoin.
• 46:41
  But I completely agree. I mean, that's my take here.
• 46:44
  That's my, that's my pessimistic view.
• 46:47
  And again. Pessimistic fields today?
• 46:49
  Well. It's it's realistic also, but I
• 46:51
  have to believe that these people who they voted for, I
• 46:57
  didn't vote for them, but they voted for them.
• 47:00
  They were put into power by a democratic process that that is
• 47:05
  what they voted for. They voted for the government,
• 47:08
  you know, to be Big Brother and quote UN quote protect.
• 47:11
  Big Daddy government protecting. It's definitely not something
• 47:14
  that I would sign up for. I I hold my Bitcoin in self
• 47:18
  custody, which is why I'm saying for the third or fourth or I
• 47:21
  don't know how many Times Now, keep your Bitcoin in self
• 47:24
  custody because then stuff like this won't happen to you.
• 47:29
  Take your Bitcoin off exchanges. Take it off exchanges.
• 47:33
  This is the only way anyways. Oh, go, go.
• 47:36
  A law. Like this might actually prove
• 47:40
  push people to take their Bitcoin off of exchanges.
• 47:43
  Because if you are an individual who distrust the government,
• 47:46
  this might actually be the final straw.
• 47:48
  This might be the final thing that causes you to get up, stop
• 47:54
  being lazy and learn about self custody so that you can take
• 47:57
  your Bitcoin off of exchanges. Yeah, the, the crazy part of
• 48:00
  what you said, Soph, is that I think people, I, I had to stop
• 48:06
  myself because by people might have been saying Dennis Porter,
• 48:09
  but I, I do think people would view this as a good thing and be
• 48:12
  like, oh, the government's here protecting me.
• 48:14
  They they believe in Bitcoin too.
• 48:17
  It's Nah Nah it seems like. Oil and water.
• 48:21
  It seems like oil and water, especially when you're talking
• 48:23
  about Bitcoin, because bitcoiners are so inherently
• 48:27
  untrusting of the government. But again, the reality is.
• 48:31
  That I don't think everyone is though.
• 48:32
  No. But the reality is that Bitcoin
• 48:36
  has now hit institutions, right? And so that means that if it's
• 48:40
  going to go mainstream, if people who are outside of the
• 48:45
  normal window of adoption for Bitcoin are starting to buy
• 48:49
  Bitcoin, then maybe this is a way that they can kind of feel
• 48:55
  protected too. Because don't forget that for
• 48:58
  them, Bitcoin feels like the wild, Wild West, like they don't
• 49:02
  know how to deal with a lot of the technological learning
• 49:05
  curves that they that, you know, that Bitcoin entails.
• 49:10
  And again, yeah, this might just be like a huge Bitcoin like
• 49:15
  power grab. And it looks like that might be
• 49:18
  the case. But again, that's why that's why
• 49:22
  we make it very known to take your Bitcoin off of exchanges
• 49:26
  and into self custody so that this won't happen to you and the
• 49:29
  government won't take your Bitcoin.
• 49:31
  The, the only thing I'll add to this is that as a financial
• 49:36
  company, you're required to kind of track this lost property.
• 49:42
  Now, of course, if, if you're like by federal or Bitcoin,
• 49:46
  well, where you're pushing everybody towards self custody
• 49:49
  that you don't, you don't have these sort of issues.
• 49:51
  But it is a requirement for financial institutions to handle
• 49:56
  this lost property. And so I wouldn't be surprised
• 49:59
  if Coinbase really pushed this because of their, because
• 50:03
  they're in California and they, they probably have a, a whole
• 50:06
  bunch of dust sitting in accounts everywhere and they
• 50:10
  need to have the state take this and they need to have a process
• 50:14
  in place to handle this. What?
• 50:15
  Is I don't I don't understand what does that mean?
• 50:18
  And it's a bunch of Bitcoin, like a little tiny, tiny Bitcoin
• 50:22
  on the exchange. Why?
• 50:23
  Why wouldn't? Why wouldn't the exchange just
• 50:25
  take that? Well, because it's not legal.
• 50:28
  Yeah, that's that's called theft.
• 50:30
  Well, it's on. It's a, it's a, it's a
• 50:33
  requirement, right? Like it's a requirement of these
• 50:37
  financial institutions to sort of track and handle this, this
• 50:40
  lost property. And so, you know, if you, they
• 50:44
  might, they might even close an account, like I had an account
• 50:48
  closed to Fidelity with a, with a few dollars left in it.
• 50:51
  And that stuff will sit there for a certain period of time
• 50:54
  until it gets swept into sort of lost property.
• 50:57
  And so I, I would imagine that regulators having a little
• 51:02
  conversation with Coinbase are saying, hey, you know, they need
• 51:06
  to do something with all this dust sitting in here.
• 51:09
  Yeah, they probably want this part of the job, just like they
• 51:13
  want to shut down this department on Coinbase.
• 51:16
  They're like, listen, it's this bull market isn't hitting the
• 51:19
  same. We got to fire some people like
• 51:21
  the state. You just, you take care of this.
• 51:24
  Yeah. I mean, I'm sure that there's,
• 51:26
  there's been some some discussions between the state
• 51:28
  and Coinbase about this because I mean we're getting audited
• 51:32
  over this kind of stuff as well. So.
• 51:34
  Yeah, interesting. Good, good insights from Paul
• 51:37
  over there. You know, we don't run a federal
• 51:39
  regulated bank over here based or quote UN quote bank.
• 51:43
  So we we wouldn't have those insights, but that that's that's
• 51:46
  good to know. So I guess maybe it is a little
• 51:48
  better. I don't know about huge
• 51:50
  breaking. That's why I say Dennis Porter
• 51:52
  is just really good at his job. You.
• 51:54
  Know. Dennis Porter, we honestly, we
• 51:57
  need to get better at our marketing.
• 51:58
  We should hire Dennis Porter. Not gonna lie.
• 52:02
  Anyway, philosophically, I'm. 100% on board with Sophie's car.
• 52:06
  Yeah, right. All right, guys.
• 52:08
  Last commercial break and we're going to talk about BITE
• 52:10
  Federal. They just announced something
• 52:12
  really, really interesting. We'll be back in 60 seconds.
• 52:17
  I want to give a shout out to our partner Hive digital
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  digitaltech.com. I want to give a shout out to
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• 54:18
  Oh, right, Bitcoin, Tom Cruise. I mean, Paul.
• 54:22
  Literally looks. Like Tom Cruise, I thought you
• 54:25
  were. Kidding at 1st and then I was
• 54:27
  looking at him. I'm like, you know what?
• 54:29
  Yeah. Well, that's been my whole life.
• 54:31
  It is, yeah. Mark Moss, who is Bitcoin?
• 54:34
  No, he's not. He doesn't look like, what do
• 54:36
  you always say, Matthew McConaughey?
• 54:38
  No, he doesn't. No, he doesn't say what you're
• 54:41
  saying. OK, whatever.
• 54:42
  He's Bitcoin Matthew McConaughey, and you're Bitcoin
• 54:45
  Tom Cruise. Yeah, and I'm, you know, love
• 54:47
  you Paul. I'm trolling.
• 54:48
  I just watched Vanilla Sky the other night.
• 54:50
  I'm like, I I I freaking love that movie.
• 54:52
  It's such a good movie. Anyways, anyways, enough side
• 54:56
  talk. We're here to talk by Federal.
• 54:58
  So you guys just partner with I'm I'm going to butcher to say
• 55:02
  Bora, pay Bora. Pay, yeah.
• 55:04
  Yeah. So you enter an agreement with
• 55:05
  Bora Pay. What?
• 55:06
  What is this? What are you guys doing?
• 55:08
  Yes, this is very cool. So Burpay is the very first and
• 55:12
  only gaming gambling regulated crypto wallet.
• 55:20
  So what that means is casinos, online gambling, all the legal
• 55:26
  gambling venues globally will have access to a regulated a
• 55:31
  gaming regulated crypto wallet, which means that they will be
• 55:34
  able to now accept Bitcoin and some other tokens as collateral
• 55:41
  to get dollar based tokens to use inside the gambling venues.
• 55:47
  So what the bite? Federal's role this is like in
• 55:51
  like yeah casino because I know there's like gambling Internet
• 55:56
  casino sites where you know they use crypto but.
• 56:00
  But they're not regulated. They're not, obviously,
• 56:03
  obviously, but. Physically walk into a building
• 56:05
  and pay with your Bitcoin. Yep, you'll be able to walk into
• 56:08
  a casino in Nevada and you instead of going and saying
• 56:12
  here's X amount of cash, or here's a wire, here's a PayPal
• 56:16
  or here's a Venmo or whatever, you'll be able to send crypto to
• 56:19
  their wallet. And by federal, we'll take the
• 56:22
  other side of that trade. The casino will send us the
• 56:27
  Bitcoin and we will send them the dollars.
• 56:30
  Damn the SO the house does always win here.
• 56:35
  Well, yeah, I mean, you are. You are.
• 56:36
  You're giving your you're putting your Bitcoin on the
• 56:39
  line. Right, you're giving Paul your
• 56:40
  Bitcoin. But we're going to sell it to
• 56:43
  other plebs, so it's all for a good cause.
• 56:45
  It's about you redistribute the coin.
• 56:47
  Better him than the government of California.
• 56:49
  There you go. There you go.
• 56:52
  That's awesome. So this is live right now.
• 56:55
  No, what they just signed Rush Street Gaming, which is a very
• 57:00
  big online and land based gaming operator.
• 57:03
  They've got three others here that I'm not going to mention
• 57:06
  until the deal is inked. But their their names, people
• 57:08
  know and they're they're significant.
• 57:11
  So yeah, we're very excited about this.
• 57:13
  We think it'll be like the first, the first transactions
• 57:17
  are probably going to be targeting December.
• 57:21
  So we'll, we'll keep you informed.
• 57:23
  We'll, we'll keep coming back with more PR and let you know
• 57:25
  how it progresses. But right now we're building out
• 57:28
  the APIs and all the infrastructure.
• 57:31
  Interesting, so if you are not happy with your Bitcoin gains
• 57:35
  here, you can go hit the casino and try to and try to get a 10X
• 57:38
  there. No, no, I'm trolling dude.
• 57:41
  I'm I'm totally trolling. This does make you think like,
• 57:47
  you know, the saying is the Internet got big because of kind
• 57:51
  of more Gray markets using the Internet and that's how it kind
• 57:55
  of became the the phenomenon that we know today.
• 57:58
  Bitcoin in the same respect did kind of get adopted on the
• 58:01
  fringes and this does I think will eventually lead to more
• 58:06
  actual adoption as Bitcoin as money, though, you know, for
• 58:09
  different use cases. It it's totally, you know, it's
• 58:12
  more of a personal choice here, but we are seeing more use cases
• 58:16
  like Jack Dorsey launching square for businesses.
• 58:19
  You know, you guys partner with Bora Pay like it's it's starting
• 58:23
  to come together, people being able to use their Bitcoin in in
• 58:26
  meat space. Yeah.
• 58:28
  Thank you. That's exactly what I was going
• 58:30
  to say. Like it's, if you believe in
• 58:32
  this idea that Bitcoin needs to be more than a pet rock, it
• 58:35
  needs to be more than a store of value, this is where this kind
• 58:39
  of adoption, a large scale is going to take place first,
• 58:42
  right? And it's going to be markets
• 58:45
  like this where people look at Bitcoin as as money, as a
• 58:48
  currency that allows them to do the things they want to do.
• 58:51
  And I, I, I think this sits right in line with what Jack
• 58:54
  Dorsey is promoting and to make to making Bitcoin money.
• 58:58
  And so, yeah, we're very excited about that.
• 59:00
  Yeah, and it's 1 thing I saw I've been going down different
• 59:03
  like YouTube rabbit holes and just watching different content
• 59:06
  creators, not necessarily in Bitcoin.
• 59:09
  I am one of my favorites and he's just like a degenerate
• 59:11
  gambler, but his content is so funny.
• 59:13
  I don't I don't gamble, you know, I just buy Bitcoin gold.
• 59:17
  But I was surprised to learn like within the kind of Gen.
• 59:21
  Z gambling culture, like using crypto.
• 59:24
  And I'm I'm using that particularly because they're not
• 59:26
  necessarily always using Bitcoin like it.
• 59:28
  It's such a like it's been so normalized to them where they
• 59:32
  use, you know, whatever shit coin du jour they want to to go
• 59:36
  gamble and then they'll put profits in Bitcoin.
• 59:38
  So like on in younger generations, like gambling and
• 59:42
  Bitcoin, while we us us boomers over here do not recommend that
• 59:47
  like the young kids are already doing it.
• 59:49
  Like it's it's so normal for them to be like, yeah, I you
• 59:53
  know, I just send some whatever, like E scan to this whatever
• 59:57
  shitty online gambling exchange. I make my money and then there's
• 1:00:01
  certain portions in their videos.
• 1:00:03
  We're like, yeah, all I got is, you know, crypto wallet and this
• 1:00:05
  casino is not going to take it. And they're like full D Gen.
• 1:00:09
  gamblers. So, but anyways, the whole story
• 1:00:11
  is it's already been super normalized to like Gen.
• 1:00:14
  Z and and younger generations that you know, and maybe that's
• 1:00:18
  a bad thing. Maybe This is why us bitcoiners
• 1:00:20
  are always like, you know, uncs here and we're like the uncle's
• 1:00:22
  like, no, you're supposed to save in Bitcoin, guys.
• 1:00:24
  You want to save and use it as money, not just send it to the
• 1:00:28
  casino and get washed. But it is very normalized in
• 1:00:32
  younger generations like Bitcoin and casinos.
• 1:00:35
  So hey now. Yeah, we all, we all want to
• 1:00:37
  save. We all, we all believe in, in
• 1:00:39
  huddling Bitcoin at the same time.
• 1:00:43
  The the way we get Bitcoin in, you know, we have the way we get
• 1:00:46
  Bitcoin in more hands and more people and more widely
• 1:00:49
  distributed so that everybody can participate in this is
• 1:00:52
  through the spending of Bitcoin. So, you know, if everybody has
• 1:00:57
  to queue up to to buy Bitcoin at AETF as opposed to being able to
• 1:01:02
  earn it through their day-to-day business operations, it's it's
• 1:01:09
  going to make for a more centralized Bitcoin world.
• 1:01:11
  So it's at some point, you know, once you're huddling goals have
• 1:01:16
  been reached, you know, it's good in it.
• 1:01:19
  And we, I do this all the time, right, like when I'm in El
• 1:01:22
  Salvador, for example, right, I'll, I'll smash by Bitcoin to
• 1:01:25
  spend it at a vendor who will, who will take it.
• 1:01:27
  So it's it's part of the Bitcoin circular economy.
• 1:01:32
  I mean, that's what by federal trying to do is, is, is build a
• 1:01:36
  a financial system on Bitcoin that is circular for people that
• 1:01:40
  are accumulating, people that are selling, people that are
• 1:01:42
  distributing and using it to make payments using in the POS
• 1:01:47
  system, using it in in loans. So this, this just fits right in
• 1:01:52
  with what we're trying to provide the the world.
• 1:01:56
  Yeah, and the the real question, I guess for the Bitcoin is for
• 1:01:58
  the hardcore maxes in the chat. If they, for whatever reason,
• 1:02:02
  get the itch to go gamble, could they take their winnings in
• 1:02:06
  Bitcoin? They they the casino will not be
• 1:02:09
  particular winnings in Bitcoin. The casino is a yeah, not yet,
• 1:02:13
  Not yet. Yeah, that would be rad.
• 1:02:16
  No, that's, that's. That'll be V2 I hope.
• 1:02:19
  V2. Yeah, yeah, V2.
• 1:02:21
  But you could take your earnings and then go to your nearest BITE
• 1:02:26
  Federal ATM machine and I smash you should have the ATMs in the
• 1:02:31
  casino. Yeah, exactly.
• 1:02:33
  There you go. Gotta like gotta have the the
• 1:02:37
  bite federal ATM at the end of the casino.
• 1:02:39
  Whichever ones you partner, you gotta have them there.
• 1:02:41
  So at least, hey, if you go and have fun, at least he's secured
• 1:02:44
  it and some hard money. I think that that'd be the way.
• 1:02:48
  But yeah, man, let's, let's, let's pivot the combo a little
• 1:02:51
  bit. Paul, obviously for people not
• 1:02:54
  familiar with Bite Federal, let's just do a general plug of
• 1:02:56
  Bite Federal. You know what, what is Bite
• 1:02:58
  Federal? Where can people find Bite
• 1:03:00
  Federal? Sure, etcetera, etcetera.
• 1:03:02
  I appreciate it. So yeah, Bite Federal started
• 1:03:04
  late 2016. Three guys here in Venice, FL
• 1:03:09
  that founded the company and started it.
• 1:03:11
  They they basically started a Bitcoin ATM company.
• 1:03:14
  They're the 7th largest in the world and one of the, they're
• 1:03:17
  also the 7th largest in the world Bitcoin ATM manufacturer
• 1:03:21
  because they build all their own ATM.
• 1:03:23
  So they're all built in house, 100% here in the United States.
• 1:03:26
  And that's been the cash cow that has allowed them to develop
• 1:03:32
  more. So we launched a non custodial
• 1:03:35
  wallet I think in 2000, 20 ish somewhere around there.
• 1:03:42
  That non custodial wallet is really for Bitcoin Maxis.
• 1:03:45
  You can create as number as many Bitcoin wallets as you want as
• 1:03:48
  lightning enabled sends, you know, receive and and and really
• 1:03:54
  and hold your own keys. And then we also created and we
• 1:03:57
  call that by the way, we call that Bitcoin vault.
• 1:04:00
  But we recently launched Bitcoin, our byte federal wallet
• 1:04:04
  and the byte federal wallet is fully custodialized.
• 1:04:07
  It's the easy button for people new to the space.
• 1:04:10
  So if you want to, you know, login, connect your checking
• 1:04:13
  account, smash, buy Bitcoin there you can and and your, your
• 1:04:18
  Bitcoin will be custody for you. Your balances get big enough and
• 1:04:22
  you want to start to learn to take self custody.
• 1:04:24
  You could transfer that to Byte Vault and hold your own keys.
• 1:04:28
  So we've got both of those tools in place now and the Byte
• 1:04:32
  Wallet's in the App Store and it's, it's just getting
• 1:04:34
  launched. So it's, it's only been out
• 1:04:36
  there live for a few weeks. Then we also have Apos system we
• 1:04:41
  call Byte Connect. It's it's actually what we're
• 1:04:43
  using to help Burpay on these transactions.
• 1:04:47
  So it is a set of API keys for a payment gateway and we have
• 1:04:54
  about 45 retailers using that. Now talking to some of the
• 1:04:59
  larger retailers, hopefully we can get we can breakthrough and
• 1:05:02
  some bigger, bigger agreements there.
• 1:05:06
  But that is the the tool that allows anybody to receive
• 1:05:11
  Bitcoin for retail sales and we did that.
• 1:05:13
  All these products are Lightning enabled and we did do the first
• 1:05:17
  Lightning on this payment gateway.
• 1:05:19
  We did the first Lightning transaction for gasoline at a
• 1:05:22
  mobile station here in Sarasota. Oh, interesting.
• 1:05:26
  That's that's dope. Yeah, that was really cool.
• 1:05:29
  I can't wait to, you know, pay my bills and buy my gas with
• 1:05:34
  Bitcoin. It's going to make my life so
• 1:05:35
  much easier. Can't wait to spend my Bitcoin.
• 1:05:38
  Wait, wait, wait, wait. Correction.
• 1:05:40
  Spend Nika's Bitcoin. I had a lot of Bitcoin.
• 1:05:47
  You just need to get to that billion dollar level, not.
• 1:05:49
  Before I met him, but I had a lot of Bitcoin.
• 1:05:51
  Man, man, that's just kidding. I don't.
• 1:05:54
  Have Bitcoin? Yeah, that's a girl.
• 1:05:55
  I I just talk about it. I don't know any.
• 1:05:58
  I just, I just talk about it here on the show, guys.
• 1:06:01
  Anyways, Paul, that's all I got for you, man.
• 1:06:04
  Is there anything else you want to you want to chat about real
• 1:06:06
  quick plug about Bite Federal, anything on top of mine before
• 1:06:10
  we wrap up on today's show? Actually, let's just do Paul,
• 1:06:13
  what is your last message, final message you want to leave with
• 1:06:16
  the audience? My final message if you know, I
• 1:06:19
  guess would be that Bitcoin has a very long future ahead of it.
• 1:06:25
  It's just getting started still. And and like all this talk about
• 1:06:29
  the daily volatility and the price, it's fun, it's exciting,
• 1:06:34
  it drives a lot of the conversation.
• 1:06:36
  But at the end of the day, you need to start accumulating
• 1:06:40
  Bitcoin because it is going to be what's left on the other side
• 1:06:44
  of this big transition. We're going through the United
• 1:06:46
  States, the globe is going to see a huge amount of disruption
• 1:06:52
  and change over the next decade. And the only thing that'll be
• 1:06:57
  here today and relevant on the other side of that change are
• 1:07:00
  hard assets like gold and Bitcoin.
• 1:07:02
  And Bitcoin is the is so much better than gold because of its
• 1:07:06
  durability, because of its divisibility.
• 1:07:08
  It's unsensible. It's easy to divide, it's easy
• 1:07:12
  to spend, it's easy to verify the transactions, right?
• 1:07:18
  So we we can go through all the upgrades between Bitcoin and
• 1:07:22
  gold. I'm sure many people, listeners
• 1:07:23
  have heard that before. But it we always need to keep in
• 1:07:26
  mind that it's about how much you accumulate from between now
• 1:07:31
  and that point. And that point is coming.
• 1:07:34
  It's accelerating. You know, we can go into all the
• 1:07:37
  doom and gloom around why that's coming and how fast it's coming,
• 1:07:42
  but the bottom line is between now and then, you need to
• 1:07:45
  accumulate as much Bitcoin as you can, and we're here to help
• 1:07:48
  you. And you need to bank yourself.
• 1:07:50
  Like Sophie said all day, hold your own keys, bank yourself
• 1:07:55
  like we say it by Federal, and you'll have a brighter future.
• 1:07:59
  Let's go. Absolutely, yeah.
• 1:08:01
  And if you guys haven't checked out my new video, I talk about
• 1:08:04
  that exact point that this at this point, it is a game of
• 1:08:09
  accumulation. And if you have more sats today
• 1:08:12
  than you did yesterday, that is pretty much all that matters.
• 1:08:17
  And the price starts to become irrelevant because you remember
• 1:08:19
  why it is that you bought Bitcoin to begin with.
• 1:08:22
  And it wasn't just because of number go up.
• 1:08:25
  Although I know a lot of us are incentivized by our greed and
• 1:08:29
  and you know, that's why Wall Street and governments are
• 1:08:31
  getting into it. But remember that you are
• 1:08:34
  purchasing Bitcoin, you are opting out of the system so that
• 1:08:39
  you can stop getting screwed over by Fiat.
• 1:08:44
  And at the end of the day, that's that's the real signal.
• 1:08:47
  That's why we're here do. You need a hitter with a.
• 1:08:50
  Yeah, well, there we go guys. All right, Paul, let me pull you
• 1:08:58
  off screen real quick. Hang out for a second while I
• 1:09:00
  wrap up the show. All righty then, guys, this was
• 1:09:04
  the Friday show. We made it through the week.
• 1:09:08
  We we did it, we did it. We did it the first first week
• 1:09:11
  in the studio. Also for forgive some of the the
• 1:09:16
  technicalities I the Internet was acting up in here.
• 1:09:19
  I don't know why it went to a different stream.
• 1:09:21
  Whatever I'll I'll have it all figured out hopefully by Monday.
• 1:09:24
  We're going to continue to update the the stream make sure
• 1:09:27
  you guys are having the best show possible and of course it's
• 1:09:31
  a weekend get outside touch some grass, eat some good food called
• 1:09:34
  your loved ones. Oh and also guys, get the new
• 1:09:37
  merch get the new merch. We are you know it's going
• 1:09:40
  really fast limited batch. I don't we need.
• 1:09:43
  You to do a spin I don't want to get.
• 1:09:46
  Up. It says this is not a
• 1:09:48
  negotiation. Yeah, you'll see it go go to the
• 1:09:51
  website. You can see the new hat here.
• 1:09:53
  It's falling over. But anyways, guys, we love you.
• 1:09:56
  We appreciate you guys. We will see you on Monday for
• 1:10:00
  another episode of simply Bitcoin live roughly 1230
• 1:10:05
  roughly ish ish. All right anyways, guys, we'll
• 1:10:08
  see you then and and of course, you know, come back to the
• 1:10:12
  channel. We're dropping content all
• 1:10:13
  weekend long. Got a bunch of stuff for you
• 1:10:16
  guys, so we'll be back. Have a good weekend guys.
• 1:10:19
  Today's episode was brought to you by bitcoinwell.com, a
• 1:10:23
  Bitcoin only platform on a mission to enable financial
• 1:10:26
  independence.