Latest / Simply Bitcoin / FORGET COINBASE: The REAL 200,000 Bitcoin LIE is INSIDE The White House... | EP 1221

Transcript

FORGET COINBASE: The REAL 200,000 Bitcoin LIE is INSIDE The White House... | EP 1221 · Simply Bitcoin

• 0:00
  Yo, while you were. Distracted with speculation
• 0:02
  about Coinbase and BlackRock this week, the biggest Bitcoin
• 0:06
  scandal in history, I'm not even kidding when I say that quietly
• 0:11
  went unnoticed. The Strategic Bitcoin Reserve
• 0:14
  Executive Order that Donald Trump signed on March 5th
• 0:18
  ordered all of the US government agencies to give us a full audit
• 0:23
  of how much Bitcoin the US Treasury holds within 30 days.
• 0:28
  Well, it's been 30-5 days since the executive order was signed
• 0:33
  and we haven't heard a single thing.
• 0:36
  If you thought that the 50 year Fort Knox mystery was
• 0:39
  suspicious, what if America really doesn't have the 200,000
• 0:44
  Bitcoin that they say they had? Well, if you think this sounds
• 0:47
  absolutely crazy or like a Twitter rumor or perhaps like a
• 0:50
  YouTube title, we're not the only ones thinking this.
• 0:53
  Senator Lummus was having these exact thoughts.
• 0:56
  In fact, we have the clip, we'll play it for you guys, and then
• 0:59
  we'll dive deep into this crazy, crazy story.
• 1:03
  In fact, when me and Opti were writing this this morning, like
• 1:06
  we couldn't believe it, we were thinking about it.
• 1:07
  We're like you. Are we actually good
• 1:09
  journalists? Anyways, let's check out the
• 1:11
  clip. We think the United States has
• 1:14
  held about 200,000 Bitcoin in asset forfeiture.
• 1:19
  What we don't know is how much of that the Biden administration
• 1:24
  was selling right before the Trump administration took
• 1:29
  office. So we have inquiries to the US
• 1:32
  Marshall Service. I have talked to Pam Bondi about
• 1:36
  it. We are trying to find so I mean
• 1:42
  sounds absolutely crazy. By the way, joining me on the
• 1:45
  show today, of course, we have my legendary Co host who's
• 1:47
  always optimistic optimist fields and the creator of UTX
• 1:51
  Oracle. We have Steve in the house.
• 1:53
  So again, what are we talking about?
• 1:55
  This is crazy. What do you mean you don't know
• 1:57
  where the Bitcoin is? Like if you compare and contrast
• 2:00
  this with El Salvador's strategic Bitcoin reserve, it's
• 2:04
  completely public. They publish their, their, their
• 2:07
  address. Anyone could see it for the
• 2:09
  world to see. This is some of the benefits of
• 2:11
  Bitcoin is that anybody could audit, it's an open Ledger.
• 2:14
  Anyone could see if that address has the amount of Bitcoin that
• 2:18
  that address says it does. So check this out.
• 2:21
  The El Salvador reserves public. We know that they have 6143
• 2:26
  Bitcoin. We know exactly how much Bitcoin
• 2:28
  they have and we know how much they've been accumulating every
• 2:30
  single day. So when Naimbu Kelly and the IMF
• 2:34
  got into a spat, basically, you know, the IMF was saying El
• 2:37
  Salvador can't acquire Bitcoin. And Amy Mccale says, you know
• 2:40
  what, we're going to keep going. You don't have to trust us.
• 2:43
  Check out our publicly, check out our public reserve.
• 2:46
  You could see that we're going to keep going, right in.
• 2:49
  Very, very powerful move. Now, that's in stark contrast
• 2:52
  with how the United States reserves work.
• 2:54
  We have to take for word the US government that Fort Knox has
• 3:00
  the gold that it says it does. We have to take them at their
• 3:03
  word that they do have this 200,000 Bitcoin that they say
• 3:07
  they do, but they don't. They can't even account for it.
• 3:10
  Mind you, this isn't just like a Bitcoin problem.
• 3:15
  The Pentagon has failed like 6 audits in a row and you're
• 3:18
  talking about billions and billions of dollars that are
• 3:21
  completely unaccounted for. Look at all the things that
• 3:24
  Dodge uncovered. So forgive me if I don't trust
• 3:29
  you bro. You don't really have a good
• 3:31
  track record of trust me, bro. It's kind of like trust me, bro.
• 3:35
  And then don't get upset that you're not trusting me bro type
• 3:38
  of situation. So check out this headline.
• 3:41
  US Marshall Service can't say how much crypto it holds
• 3:45
  complicating Bitcoin reserve plan.
• 3:47
  You heard Senator Lummus in the beginning that she believes that
• 3:50
  the Biden administration was potentially selling Bitcoin
• 3:54
  because they knew that the Trump administration was going into
• 3:57
  power and the Trump administration had every
• 3:59
  intention of making Bitcoin a strategic reserve.
• 4:02
  So check out this headline. US agencies must reveal Bitcoin
• 4:07
  and crypto holdings by April 5th.
• 4:10
  It has been nearly a month since U.S.
• 4:12
  President Donald Trump signed an executive order on March 6th to
• 4:17
  establish a strategic Bitcoin reserve and a digital asset
• 4:21
  stockpile. The order called for the
• 4:23
  creation of two strategic crypto reserves with digital assets
• 4:28
  seized by authorities as part of criminal or civil asset
• 4:32
  forfeiture proceedings. As per the order, all federal
• 4:35
  agencies are required to disclose their holdings of
• 4:38
  Bitcoin and other cryptocurrencies to the
• 4:40
  Secretary of Treasury within 30 days.
• 4:42
  It means that the Treasury Department and other federal
• 4:45
  agencies of the US government will disclose their digital
• 4:48
  asset holdings, including Bitcoin and other
• 4:51
  cryptocurrencies, to the Treasury Secretary on April 5th.
• 4:54
  Guess what? It's April 11th.
• 4:56
  It's been 6 days. We haven't heard of PEEP.
• 4:58
  We haven't heard anything. We don't know, right?
• 5:02
  So it's just it's not rocky science connect the two, right.
• 5:05
  So if there was speculation, not by us, by AUS senator, Senator
• 5:09
  Cynthia Lummis, the Bitcoin senator, she's absolutely
• 5:11
  awesome. If she's basically saying, look,
• 5:14
  we suspect they're selling Bitcoin.
• 5:17
  They were all the agencies were essentially ordered to report
• 5:21
  how much Bitcoin the US government has.
• 5:23
  It's six days later, we still have no idea how much Bitcoin
• 5:27
  the US government has. So and remember it was quite
• 5:30
  interesting. All that cell.
• 5:32
  Pressure that was happening, you know, the last six months and
• 5:35
  like, you know, different places, like we knew when, when
• 5:37
  Germany sold their Bitcoin and we took we, we took quite a
• 5:40
  dump. We had no idea what was
• 5:42
  happening behind the scenes. And even they have no idea, you
• 5:46
  know, how much Bitcoin you have. I mean, it's not difficult to
• 5:49
  see how much Bitcoin you have. It's it really isn't.
• 5:52
  So were they selling it? I don't know.
• 5:54
  Here's the CEO of of BTC Inc, the CEO of Bitcoin magazine, he
• 5:58
  says, you know what would really add to the vibes right now?
• 6:01
  The results of Americans Bitcoin audit.
• 6:03
  Again, we don't know where it is.
• 6:06
  We don't know it. But this leads me to connect
• 6:08
  this to another story that we talked about.
• 6:11
  I would, I was, I think it was yesterday during the news
• 6:13
  segment regarding the Coinbase stuff.
• 6:16
  So what am I talking about BlackRock and decided to use a
• 6:21
  new custodian. They are, I guess, diversifying
• 6:26
  custodians. So they were only relying on
• 6:28
  Coinbase before and they said they announced that hey, we're
• 6:32
  going to use another custodian. Now what's really interesting
• 6:35
  about the Black Rock stuff and we covered it on yesterday's
• 6:37
  show is that there was a lot of rumours regarding quote UN quote
• 6:42
  paper Bitcoin. So Coinbase was essentially
• 6:45
  accused of of potentially selling Bitcoin to BlackRock.
• 6:50
  That's paper. They don't actually have that
• 6:52
  Bitcoin. They're just selling an IOU to
• 6:55
  it, paper Bitcoin. And you know, this made quite a
• 6:58
  stir on Bitcoin Twitter to the point that BlackRock actually
• 7:03
  had to amend their agreement with Coinbase.
• 7:06
  And a lot of people were basically saying it was an
• 7:08
  unfounded conspiracy theory. But guess what?
• 7:11
  Six months later, BlackRock is like, you know what, we're going
• 7:15
  to have multiple custodians. Now.
• 7:17
  This leads me to we don't have to live in a trust me bro
• 7:22
  situation. Even with the US government, We
• 7:26
  should demand that they follow in the footsteps of Bitcoin
• 7:30
  country, which else, El Salvador, Bitcoin country has
• 7:35
  all of the reserves completely public.
• 7:37
  And the reason that that is so important is because it's
• 7:41
  extremely difficult for the government to do something with
• 7:44
  your money because technically it's a government by the people,
• 7:47
  for the people. It's your money if there's a lot
• 7:50
  of people looking right? And this is what transparency is
• 7:54
  all about. We don't have to live under a
• 7:57
  trust me bro model now that we have the technology that allows
• 8:03
  a don't trust me bro verify model.
• 8:06
  So yeah, I mean, very interesting times.
• 8:09
  It's been 6 days. We should have those numbers.
• 8:13
  We should know how much Bitcoin exactly the US government has.
• 8:17
  The executive order was for April 5th.
• 8:20
  It is now April 11th. We haven't heard a peep.
• 8:24
  Nothing. 0 nada, it's not there. And that is interesting to say
• 8:30
  the least. And I would I don't know what's
• 8:32
  a bigger scandal, right? That they have less Bitcoin that
• 8:35
  they said they would or that they were selling Bitcoin after
• 8:39
  they knew Trump won the election because they knew that Trump had
• 8:44
  no intention of selling that Bitcoin because he wanted to
• 8:48
  make it part of the strategic Bitcoin reserve.
• 8:49
  I don't know what what would be a bigger scandal.
• 8:52
  And then that leads me to listen.
• 8:55
  If El Salvador could do it, the US should be able to do it,
• 8:59
  right? There's absolutely no excuse
• 9:02
  unless you just don't like Bitcoin, unless if you're
• 9:06
  against Bitcoin, you're against freedom, right?
• 9:08
  It's as simple as that. Bitcoin exposes incentives.
• 9:11
  This situation is no different. I'm positive the Trump
• 9:15
  administration is going to announce it, but it is very
• 9:18
  curious to me that we're six days late and we still have no
• 9:22
  idea how much the US government, which is accountable to the
• 9:26
  people, has on behalf of the people.
• 9:28
  Anyways, Opti, someone in the chat, are you suggesting that
• 9:32
  they lie to us? I'm not suggesting that.
• 9:35
  I'm just putting the pieces together and you guys are making
• 9:38
  your own conclusions. You guys are watching simply
• 9:40
  Bitcoin live smash that like button.
• 9:41
  If you guys are enjoying today's show, I'm joined, of course,
• 9:44
  here with my legendary Co host, Optimist Fields and Steve.
• 9:47
  Steve is the creator of UTX Oracle.
• 9:50
  We're going to be talking about that during the culture segment.
• 9:53
  But before we get Steve thoughts, Opti I mean, we were
• 9:55
  crafting this morning for a while.
• 9:57
  We were crafting this story in the morning for a while, and
• 9:59
  we're like, Oh my God, like, are we journalists?
• 10:01
  Because I think we found something.
• 10:02
  Opti, what's your take? Yeah, well, some days we're not
• 10:07
  just propagandists. We might be journalists.
• 10:09
  Maybe we're not credentialed. I'm not even going to allow you,
• 10:12
  I'm not even going to allow you to say call us propagandists
• 10:15
  because like, there's a lot of things that the legacy media has
• 10:18
  said over the last 10 years. I don't care how much you call
• 10:22
  yourself a journalist. That was just a flat out false
• 10:26
  narrative. So no, I, I don't, I don't, I,
• 10:30
  you can't call us propagandists, man.
• 10:32
  Like if anything the legacy media is propagandist.
• 10:35
  All we're doing doing is reporting the news from the
• 10:37
  bitcoiners perspective. You know, I say that lovingly,
• 10:40
  Nico, you know I'm trolling when I say that.
• 10:42
  But anyway, anyways, getting back to the story here, if this
• 10:45
  is the case, like Senator Lummits was saying, if Joe
• 10:49
  Biden's last, you know, middle finger to the US was selling all
• 10:53
  of their Bitcoin, on the one hand, it it would almost be like
• 10:56
  poetic, like, I'm not going to lie, it's kind of like, yeah, of
• 10:59
  course he would do that. On the other hand, it would kind
• 11:04
  of also be like a good thing for all of us Bitcoiners, especially
• 11:07
  all the people that like, I don't want the government to own
• 11:08
  Bitcoin. They sell 200 Bitcoin.
• 11:10
  That would probably explain why the price is where it is right
• 11:13
  now if they did dump all of that Bitcoin.
• 11:15
  Now, on the flip side, I was kind of trolling yesterday.
• 11:18
  Of course, the the macro markets right now are in meltdown.
• 11:21
  There's a lot of, you know, we're all macro experts now
• 11:23
  because we have to be. And it looks like, you know,
• 11:27
  China is dumping treasuries and potentially buying gold.
• 11:31
  So I was trolling. Hey, look, China's stacking
• 11:33
  gold. It would be awesome if the US
• 11:36
  announces that they are buying Bitcoin.
• 11:38
  Now, if this is the case and China is stacking gold and they
• 11:42
  actually hold their Bitcoin and we have no gold in Fort Knox and
• 11:47
  we have no Bitcoin, as an American, this would be very
• 11:51
  bad. Obviously, I want to stay ahead
• 11:53
  here, but we're seeing all kinds of crazy stuff.
• 11:56
  And if this is the case, it is very interesting that we don't
• 11:59
  have an audit here. Maybe they're using this global
• 12:03
  market meltdown like that's the main concern, you know, being
• 12:06
  kind of lenient here. That's probably the main concern
• 12:08
  here. But it is interesting.
• 12:09
  We haven't heard anything. You'd think by now we would have
• 12:11
  heard something. The deadline was I think what
• 12:14
  was it was that Sunday or we should have heard something by
• 12:17
  Monday. We haven't heard anything yet.
• 12:19
  I'll be a little lenient considering like the the whole
• 12:22
  global macro markets are blowing up right now and they're very
• 12:25
  concerned with bonds. But if we don't hear something
• 12:28
  soon, that is not a good sign. Now maybe, you know, again,
• 12:32
  being kind of gracious here, maybe this is an internal memo
• 12:36
  and they have that that information, but it does sound
• 12:38
  like it was going to be public. So again, if they've sold all
• 12:41
  that Bitcoin or they don't have as much Bitcoin as they have,
• 12:45
  but that probably would explain the price where we're at.
• 12:47
  And it would not be good for the narrative of the US becoming the
• 12:51
  Bitcoin superpower because now China has more Bitcoin than us.
• 12:54
  And I could already hear the flood stories coming out.
• 12:56
  You know, China runs Bitcoin, etcetera, etcetera, etcetera.
• 12:59
  So no, no case is good here unless we actually have all the
• 13:03
  Bitcoin we claim we have. So it's going to get crazy with
• 13:07
  the flood narratives here. But anyways, I've been rambling
• 13:09
  enough. Let's pass it over to Simple
• 13:11
  Steve. I kind of love the story, to be
• 13:14
  honest. Yeah, I'd kind of love it if the
• 13:19
  US didn't actually have that Bitcoin.
• 13:21
  I mean, it highlights the problem of it's it's hard for a
• 13:24
  large scale institution to custody Bitcoin because someone
• 13:28
  has to have the keys. So I mean, it's not just the
• 13:32
  government. Any big company is going to have
• 13:34
  trouble proving that they have the Bitcoin, that they say they
• 13:38
  have Nacho keys, Nacho cheese. I mean, I love it.
• 13:43
  It's hard for big institutions to hold Bitcoin, and that is a
• 13:47
  feature, not a bug. And also and.
• 13:50
  Also, just jumping in here, it would be, I mean, on the one
• 13:53
  hand, you know, they're selling Bitcoin that was seized, but it
• 13:56
  would be kind of fitting if they did dump all that Bitcoin back
• 13:58
  into the market and then, you know, the people can acquire
• 14:00
  that much Bitcoin again. You know, there's, there's good
• 14:02
  sides on all of this. But yeah, I I also kind of love
• 14:06
  the story, but the narrative is going to be bad either way.
• 14:10
  No, I mean, I, I, I think, I think you hit the nail on the
• 14:13
  head there, Opti. Like they're the blessing in
• 14:15
  disguise. Look, I'll say I'll go out on a
• 14:18
  limb. There's no way that this is
• 14:20
  verifiable. But I'll go out on a limb and
• 14:23
  I'll say that I don't think they have as much Bitcoin today than
• 14:28
  they did before the rumors started, you know, going around
• 14:32
  that the Biden, the previous administration was, you know,
• 14:37
  essentially selling Bitcoin before Trump got into office.
• 14:41
  So I'll say that. And I, I think the silver lining
• 14:44
  to add to Opti's point is that, you know, when a government
• 14:47
  sells their Bitcoin, they could, number one, they could only do
• 14:49
  it once and #2 they're selling it back to at least a percentage
• 14:54
  of individuals, right? So that's a good thing and not a
• 14:58
  bad thing in my opinion. So there is a silver lining to
• 15:00
  this. But yeah, I mean, what a scandal
• 15:04
  would that be? That would be a huge scandal.
• 15:06
  But I mean, there's been so many scandals the last, you know, 2-3
• 15:10
  years and in American politics that from a Bitcoiners
• 15:14
  perspective, this would be the biggest scandal.
• 15:16
  But like from the just the the general events that have that
• 15:20
  have happened, you know, it's like it's not that big of a deal
• 15:26
  I would say in the grants. These things, one last thing,
• 15:29
  like as a Bitcoiner, would we, would we be surprised of
• 15:33
  government incompetence, of not being able to hold the Bitcoin?
• 15:36
  It's just like, of course, this is what happens.
• 15:38
  Like this is par for the course. Yeah, 100 percent, 100%.
• 15:42
  Well, guys, it's gonna be an incredible show.
• 15:45
  We have tons of content for you guys lined up.
• 15:49
  And of course we have a special guest we have Steve.
• 15:52
  Steve is the creator of UTX Oracle, so we're gonna be
• 15:54
  talking about that very soon. And I have a clip of you guys
• 15:59
  from the new administration from especially the, the, the name of
• 16:03
  the position is executive director of the President's
• 16:06
  Council of Advisors on Digital Assets.
• 16:09
  It's part of the new administration's move to create
• 16:12
  the strategic Bitcoin reserve. Bill Hines, we have a clip of
• 16:15
  him basically saying that the administration has every
• 16:18
  intention of acquiring more Bitcoin.
• 16:20
  So it's not just about sitting on the Bitcoin that they don't
• 16:23
  know how much they have. It's also with the intention of
• 16:27
  buying more Bitcoin as well. Again, that's very positive from
• 16:30
  a number of go up perspective. Then also also some Trump news
• 16:34
  as well. Trump signs bill to nullify
• 16:36
  expanded IRS crypto broker Booker rules.
• 16:39
  So we'll jump into that. And then we're going to be
• 16:42
  talking about essentially if we had, if the time allows, you
• 16:47
  know, this whole tariff thing and the whole DOGE thing and the
• 16:51
  whole nothing stops this train, you know, story by Lynalden.
• 16:55
  And we're going to be essentially talking about like,
• 16:57
  look like even with DOGE, even with the best intention, the
• 17:01
  fact is that the US government is spending $2 trillion every
• 17:07
  single year, more than it collects in tax revenue.
• 17:12
  And that is completely unsustainable.
• 17:14
  The interest on the debt alone is $1 trillion.
• 17:19
  That's one trillion with AT that is just to give you, just to
• 17:23
  give you guys a perspective of how much money that is.
• 17:25
  The total GDP of El Salvador is 32 billion, 32 billion with AB
• 17:33
  right. The interest on the debt is 1
• 17:36
  trillion with AT right. I don't know how much.
• 17:40
  I don't know what 1 trillion. I don't know what 32 billion / 1
• 17:43
  trillion is, but let's just say it's an enormous amount of
• 17:47
  money. And of course, this is
• 17:50
  completely unsustainable. By 20-30, the interest payments
• 17:55
  alone are going to surpass the defense spending budget for the
• 17:58
  entire year. It is ridiculous.
• 18:01
  So you're seeing essentially a slow motion crash in my opinion,
• 18:07
  and you already have a lifeboat and of course that lifeboat is
• 18:11
  Bitcoin. So we're going to be talking
• 18:12
  about all that on today's show. And of course Steve's project,
• 18:15
  UTX, Oracle, we're going to be focusing on that during the
• 18:18
  culture segment. So if you guys are enjoying the
• 18:20
  show so far, smash that like button, we're going to hit the
• 18:23
  numbers. We'll be right back.
• 18:27
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• 22:03
  So let's talk about the Bo Hines clip.
• 22:05
  Bo Hines is essentially I have this written down.
• 22:08
  I don't know where it is anyways, Bo Hines is the I would
• 22:11
  just had it. I don't know where it is, what's
• 22:13
  happening with me today. OK, well, Bo Hines is the
• 22:18
  advisor to the Trump administration regarding digital
• 22:21
  assets, and he had something to say regarding the Trump
• 22:23
  administration's intention of buying more Bitcoin.
• 22:27
  Let's check out the clip and then we'll talk about it. the US
• 22:31
  has already acquired about 200,000 BTC.
• 22:35
  That's worth about $17 billion. Strategy CEO Michael Saylor is
• 22:39
  suggesting that the US acquire up to. 25%.
• 22:43
  Of the Bitcoin supply by 2035, what would be the target amount
• 22:50
  for the United States in your view?
• 22:52
  Well, you know, I, I get asked this question a lot and I, I
• 22:54
  think the answer to that, like I said at the summit yesterday's
• 22:57
  as much as we can possibly get so long as it's in budget
• 23:00
  neutral ways that don't cost the taxpayer a dime.
• 23:02
  I think we have a lot of high IQ people in the building.
• 23:05
  They're working on this and folks over at the Treasury
• 23:08
  office and folks over at Commerce working with the
• 23:11
  internal working group that was set up in the first digital
• 23:13
  assets EO. We'll be able to come up with
• 23:15
  with ways to accumulate more really over the course of the
• 23:18
  next few years. And beyond that.
• 23:19
  I mean, look, we view Bitcoin as being digital gold.
• 23:21
  That's why we set up the strategic Bitcoin reserve in the
• 23:24
  way that we did, right? Bitcoin is a commodity.
• 23:26
  It's not a security as our AI and cryptos are.
• 23:28
  David Sacks like this likes to say it has the Immaculate
• 23:31
  Conception, meaning that there's no issuer.
• 23:33
  It has intrinsic stored value that's traditionally accepted.
• 23:37
  And we feel like it's in the best interest of Americans to
• 23:39
  hold on to this asset long term and accumulate as much as we can
• 23:42
  get. You know, that's why we became
• 23:44
  this to digital gold and talked about building the digital Fort
• 23:46
  Knox for the United States. And, you know, you mentioned the
• 23:49
  Bitcoin that we have possession of.
• 23:51
  We've actually been in possession of nearly 400,000
• 23:53
  Bitcoin and we sold roughly half of that prematurely at about, I
• 23:57
  think it was close to, you know, $370 million is what we sold it
• 24:00
  for. If we would have held on to
• 24:01
  that, it would have been worth $17 billion today.
• 24:04
  I mean, it just goes to show you how important this asset is and,
• 24:07
  and what we can do with it to benefit the American people.
• 24:10
  You know, one thing that I've said repeatedly throughout the
• 24:12
  media circuit is that I think it's really nice that we have a
• 24:15
  president that's actually looking to accumulate assets for
• 24:17
  Americans rather than take it away, unlike the last regime
• 24:20
  that we had here at the White House.
• 24:22
  But we feel very confident about our plan.
• 24:24
  We feel confident about the internal working group that was
• 24:26
  set up in that first EO and and. All right.
• 24:32
  We are back ladies and gentlemen.
• 24:34
  I mean but what if they don't have those 200,000 Bitcoin?
• 24:38
  That's the scandal man, that's going to be bonkers.
• 24:42
  I mean how's that news going to be broken?
• 24:44
  We'll see again it's been 6 days.
• 24:46
  We still don't know how much Bitcoin the US government has
• 24:50
  the US Marshals, they don't they don't know how much Bitcoin the
• 24:53
  US government has. The all the agencies were
• 24:56
  supposed to have reported it on April 5th.
• 24:58
  We haven't heard a peep since then.
• 25:01
  That would be a huge, huge scandal.
• 25:04
  Think about that for a second. Let's break it down.
• 25:07
  The Trump and the Republicans got a mandate.
• 25:12
  They won the House, they won the Senate and they won the
• 25:16
  presidency. And that was a very clear, you
• 25:19
  know, this is a representative democracy.
• 25:21
  It's not a direct, it's not a direct democracy.
• 25:25
  So essentially you elect a representative to essentially,
• 25:29
  you know, vouch for your your interest in government, or at
• 25:32
  least that's how it's supposed to work.
• 25:34
  Could you imagine what that would mean if after they found
• 25:39
  out the results of the election, the previous administration was
• 25:42
  just dumping Bitcoin against the wishes of the American people?
• 25:47
  I mean, like, that would be something, right?
• 25:52
  So yeah, I mean, you know, the narrative is right now that the
• 25:56
  US government holds 200,000. Let's see what that number is,
• 26:00
  right As someone in the chat, Marshalls lost their Bitcoin in
• 26:02
  a boating accident. I think you can get, you can get
• 26:05
  away with that excuse as an individual.
• 26:07
  I don't think you can get away with that.
• 26:09
  Excuse. No, it's the Marshalls lost
• 26:12
  their Bitcoin in an Excel accident.
• 26:14
  That's that's the real meme. Yeah, man, like this is this is
• 26:18
  crazy. Anyways, I do want to give a
• 26:19
  shout out to the stream and then I'm going to get Steve's
• 26:21
  thoughts and then Opti's. We're on the verge of breaking
• 26:24
  2000 live viewers and we have almost 600 live viewers on
• 26:28
  YouTube alone. And of course, shout out to the
• 26:30
  hardcore Rumble audience holding it down, making fun of me and
• 26:35
  Opti every single day. We absolutely love you guys and
• 26:37
  appreciate you guys. Mckell in the chat.
• 26:39
  Opti, could you put that up? Oh, Opti's conciliatory.
• 26:43
  Brian Armstrong come out and play.
• 26:45
  Brian Armstrong come out play. Opti's consingularity.
• 26:49
  What did he say? I want to see what Opti's
• 26:51
  consingularity. Opti's consingularity says
• 26:53
  there's a difference between having sold it, been stolen, or
• 26:56
  lost the keys. Anything is possible.
• 26:59
  True. How convenient would it be if
• 27:01
  you know they lost the keys again?
• 27:03
  We haven't seen the gold in Fort Knox since the 1970s.
• 27:08
  And that was just one video of 1 Volt and none of that gold was
• 27:12
  taken out. It was just a video of just the
• 27:13
  vault. So it's kind of like a trust me,
• 27:15
  bro. But think about like think about
• 27:18
  it, if you think about it, it's kind of the same thing, right?
• 27:23
  Fort Knox was constructed because FDR issued an executive
• 27:27
  order making it illegal for Americans to own gold.
• 27:30
  And apparently all the gold would be a would the the theory
• 27:34
  was for all that gold to be housed in Fort Knox.
• 27:37
  You know, since the 1930s, we've essentially been taking their
• 27:40
  word for it. We've been taking their word for
• 27:43
  on a lot of things. I mean, I don't think that gold
• 27:48
  is there and I don't think they have as much Bitcoin as they say
• 27:51
  they do. I think some of that Bitcoin,
• 27:53
  you know, could have been sold. And if the if in the Social
• 27:58
  Security database, there's people that are collecting
• 28:00
  Social Security and they're 360 years old, older than the
• 28:04
  country itself. I mean, like you're talking
• 28:08
  about a lot of Bitcoin, you're talking about 200,000 Bitcoin.
• 28:11
  Isn't it convenient that it's lost?
• 28:13
  Could you imagine if you told the IRS the same thing?
• 28:18
  You'd be put in prison, right? So, you know, again, it's like a
• 28:22
  different, different set of standards here.
• 28:25
  And I think that's wrong. Anyways, Opti, what's your take
• 28:28
  take on all this? Let's go to Steve.
• 28:30
  Let's go with Steve. We just broke 2000 live viewers.
• 28:32
  Glad you guys are enjoying the stream, Steve.
• 28:35
  What about the government not having the Bitcoin?
• 28:37
  Or about that other guy. It seems like this topic does
• 28:42
  not and Steve is not interested in this topic at all.
• 28:46
  It's hilarious. Like a true.
• 28:48
  Bitcoiner like a true bitcoiner like a true bitcoiner.
• 28:52
  I'll let me rephrase the question then.
• 28:55
  How hard would it be to like how hard is it?
• 28:58
  It it it shouldn't be this hard for the government to know how
• 29:01
  much Bitcoin they have, is it? How to just really hard I mean,
• 29:04
  if you don't hold your own keys, you have no idea how much
• 29:07
  Bitcoin you have. That's really hard.
• 29:09
  But I did like the second guy that you played because he
• 29:12
  looked like he at least cared a little more.
• 29:15
  And obviously Cynthia Lummis really cares.
• 29:18
  I think you, I feel like you can kind of tell the people in the
• 29:22
  government that actually really care about this and want to hold
• 29:26
  Bitcoin and the people that are just kind of BS ING.
• 29:30
  I mean, Fiat money is a hard problem.
• 29:33
  You know, it's like a mind virus where you can just kind of make
• 29:36
  stuff up. You can print money and Bitcoin
• 29:40
  is the real thing. And so you have to be kind of a
• 29:43
  real person and for it to it really works.
• 29:47
  So yeah, I don't, I don't have much hope for any large
• 29:51
  institution, including the government, successfully holding
• 29:54
  Bitcoin. 100% Opti, what's your take on this?
• 29:59
  I love, I love Steve's just like, you know what bro?
• 30:02
  Like I feel you. This is interesting, but
• 30:06
  honestly it's about individuals holding Bitcoin.
• 30:10
  I can care less what the US government is doing or what
• 30:14
  their intention is with this. A very Bitcoin response, right?
• 30:18
  Anyways, Opti, what's your take on all this bro?
• 30:20
  Well, given the first article here, the second one does just
• 30:24
  kind of sound hilarious. Like if they don't actually have
• 30:27
  the Bitcoin, it's kind of kind of nuts to see Bo Hines go out
• 30:30
  there and be like, yeah, we have 200,000 Bitcoin actually, you
• 30:32
  know, we had 400,000, but we sold 200,000.
• 30:35
  And then he's going to run out and gonna be like, actually we
• 30:37
  have 0 Bitcoin. And this would be a bigger
• 30:41
  fumble than what we saw the German government do by selling
• 30:44
  their 50,000 Bitcoin. So I don't know.
• 30:47
  I'm I'm kind of like as much as you know, you want to see
• 30:51
  America be the Bitcoin superpower in regards to just
• 30:53
  like favorable regulation. This is the true separation of
• 30:57
  money and state. We were talking about it when
• 30:58
  Germany dumped their coin. Hey, if you know, governments
• 31:01
  can't hold on to their Bitcoin, they're just like everyone else.
• 31:03
  So the narrative sounds good. They are losing a lot of money
• 31:07
  by selling their Bitcoin. But hey, you know, cheaper sets
• 31:10
  for everyone else. So we'll see what happens. 100
• 31:13
  percent 100% agree with that take bro and let's see let's see
• 31:18
  it would be it would be a scandal.
• 31:20
  You know what The thing is, like with all the scandals that have
• 31:24
  happened, you know what, I have to pull this up so you guys
• 31:27
  could check out what I'm what I'm talking about because like,
• 31:32
  it's just crazy. Let me pull this up.
• 31:36
  Thing is, it would be a scandal, but we've just normalized this.
• 31:39
  Like I think Steve said something very wise, which is
• 31:42
  like Fiat money is like a mind virus.
• 31:45
  It's, it's like, you know, it's, it's it, it just normalizes this
• 31:49
  type of thing. And, and I think the reason it
• 31:51
  normalizes it is because I think whether you're conscious of it
• 31:56
  or not, if you work in government, you know that this
• 31:59
  money comes out of thin air. And if you know that money, if
• 32:02
  you know on a subconscious level that money comes out of thin
• 32:05
  air, you're a lot. It just, you're just like, all
• 32:09
  right, you know what? It's a it's a billion dollars.
• 32:11
  Who cares? Like a billion dollars would
• 32:14
  fundamentally change the lives of I don't know how many
• 32:17
  Americans. Like it would be a game changer.
• 32:19
  Imagine all the money that we spent in the Iraq and
• 32:22
  Afghanistan war, which are like trillions and trillions of
• 32:25
  dollars. Imagine if that money was used
• 32:28
  to build up things here in the US.
• 32:30
  It would, it would be totally different and I would I would
• 32:32
  say it'd be much more beneficial.
• 32:34
  Anyways, so check out this headline.
• 32:36
  Pentagon fails 7th audit in a row, Eyes passing grade by 2028
• 32:43
  And let's take a look at this. The annual audit is conducted by
• 32:46
  the DO DS Office of Inspector General along with an
• 32:49
  independent public accounting firm that examined $4.1 trillion
• 32:53
  in assets and 4.3 trillion in liabilities.
• 32:58
  This year's report provides opinions on 28 entities ranging
• 33:02
  from the various services to the military retirement fund, one
• 33:06
  fewer than last year. In total, 9 entities have so far
• 33:10
  received an unmodified audit opinion.
• 33:14
  It goes on to say so far, the remaining 15 entities received a
• 33:19
  failing A failing grade. So it's a four point one, $4.1
• 33:24
  trillion in assets. And you know, they don't, they
• 33:27
  don't know where things are. Like how convenient is that?
• 33:29
  And then it's also really convenient that a lot of these
• 33:31
  politicians that are supposedly on government salaries are worth
• 33:34
  hundreds of millions of dollars, right?
• 33:35
  This is all convenience, right? This is just convenience, just
• 33:38
  convenience. But I do want to show the debt
• 33:41
  clock. I don't know if I've showed it
• 33:42
  off yet. Here it is.
• 33:44
  So if you take a look at this, the US national debt, $36
• 33:49
  trillion per per taxpayer, that'd be 323,000 each.
• 33:55
  Do you have 323,000 lying around?
• 33:58
  And this is with DOGE. And look at how much pushback
• 34:02
  they've got in with DOGE. Like DOGE has been attacked left
• 34:05
  and right and every single thing has been used to attack DOGE.
• 34:09
  DOGE has so far, with everything thrown against it, has been able
• 34:14
  to cut $305 billion with AB. The deficit this year alone is
• 34:21
  going to be two trillion, 2 trillion.
• 34:24
  So yeah, that's just it's just a drop in the book.
• 34:27
  I thought those doge cuts were higher.
• 34:29
  What's going on here? I mean, Elon's goal is for it to
• 34:32
  get to 1 trillion, but I mean, with the amount of political
• 34:35
  pushback, I mean, I think it's going to be very, very difficult
• 34:39
  for him to get there anyways. So someone in the chat says show
• 34:43
  unfunded liabilities. Where is that?
• 34:46
  Help us find where the. It's bottom right, like I think
• 34:51
  it's the very bottom, the very bottom one.
• 34:53
  No, not, no, no, no. Like right there though.
• 34:56
  Is it that last one? Sort of amazing how prices have
• 35:02
  been as stable as they have been for the past like decade or so,
• 35:07
  given how much money has been printed and how much debt we
• 35:12
  have. Like if you, if you're familiar
• 35:14
  with Jeff Booth deflationary hypothesis, like if we were on a
• 35:18
  sound money standard, everything would be so cheap right now.
• 35:22
  Like I just showed you how much improvement has actually
• 35:25
  happened, that there's been this much money printing and prices
• 35:29
  have only doubled. Yeah, it's no, I think you hit
• 35:33
  the nail on the head, man. Dude, this is this is gnarly.
• 35:37
  This is why we Bitcoin save yourself, you know, opt out of
• 35:41
  this system. I think things are just going to
• 35:43
  get worse from here. You already kind of see the
• 35:45
  political divide and I think that's fueled just, I think the
• 35:50
  the instability with politics right now, I think is fueled by
• 35:55
  people knowing inherently that the system is broken, but they
• 35:58
  have different types of solutions to it.
• 36:01
  I don't think that solution is inherently political and
• 36:04
  political in the traditional sense about vote harder daddy.
• 36:08
  I think it's about fixing the money.
• 36:10
  You fix the money, you fix the world.
• 36:11
  But again, the people that benefit from the awesome power
• 36:16
  of being able to create money for free that everyone else has
• 36:18
  to work for, I think they're going to fight tooth and nail to
• 36:22
  to protect their interests. So yeah, this is pretty gnarly.
• 36:25
  Everybody. Let's move on to the next
• 36:28
  segment. We're going to be talking about
• 36:30
  the news and we'll be right back.
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• 39:39
  All right, everybody, let's jump into today's news story.
• 39:43
  Trump signs Bill to nullify expanded IRS crypto broker rule
• 39:49
  U.S. President Donald Trump on
• 39:50
  Thursday signed into law a bill to overturn a revised rule from
• 39:55
  the IRS that expanded the definition of a broker to
• 39:58
  include decentralized cryptocurrency exchanges.
• 40:02
  In the last weeks of the Biden administration in December, the
• 40:06
  IRS updated its crypto tax reporting rule that it had
• 40:10
  finalized earlier in 2024 to clarify that its new guidelines
• 40:14
  would also apply to decentralized finance.
• 40:17
  Both the House of Representatives and Senate in
• 40:20
  March voted to nullify the revision through the
• 40:22
  Congressional Review Act, which allows Congress to reverse new
• 40:26
  federal rules with a simple majority.
• 40:29
  The cryptocurrency industry has slammed the revised rule,
• 40:32
  claiming that it was unworkable for D5 platforms and called on
• 40:36
  Republicans to rescind it. Centralized exchanges such as
• 40:39
  Coinbase and Kraken act as the intermediaries between buyers
• 40:43
  and sellers, while D5 exchanges aim to cut out the middle man
• 40:47
  and allow users to transact directly on the blockchain.
• 40:50
  Anyways, none of that is like specifically Bitcoin related
• 40:55
  stuff. However, I will say that, you
• 40:59
  know, I think the Trump administration continues to show
• 41:03
  that it is very positive towards the industry.
• 41:07
  The second thing I'll point out here on this article, it says
• 41:09
  the new IRS framework finalized last year aimed to crack down on
• 41:14
  crypto users who may be failing to pay their taxes and stems
• 41:19
  from the $1 trillion bipartisan 2021 Infrastructure Investment
• 41:23
  and JOBS Act. It required digital asset
• 41:26
  brokers to send forms to both the IRS and digital asset
• 41:30
  holders to assist with their tax preparation.
• 41:35
  So quite interesting. I think removing the red tape,
• 41:38
  like what a lot of people like if you put we're not that type
• 41:42
  of show, but if you put like the kind of tax obligations aside
• 41:45
  from individuals, the obligations that this puts on,
• 41:50
  on companies, right? Like this is just another
• 41:54
  expense that the company has to comply with to essentially, you
• 42:00
  know, remain following the law, right, which again, increases
• 42:04
  the barrier to entry because it makes it more difficult to run a
• 42:07
  company. Less companies, less people
• 42:09
  employed, more people dependent on government, right?
• 42:12
  So, you know, I think this is this is a good thing overall.
• 42:16
  The next piece of next article I found out which I thought was
• 42:20
  really interesting, which was an article written by Bitcoin
• 42:23
  magazine. The author is Ghafar Hussein.
• 42:26
  He says why Trump's tariffs can't fix the broken system.
• 42:30
  The Trump tariff will not revitalize the American economy
• 42:33
  like he thinks, but maybe Bitcoin can help where tariffs
• 42:36
  can't, goes on to say Trump's America First platform, which he
• 42:39
  built his successful campaign around, promised to reconfigure
• 42:42
  global trade in favor of the US. This involved encouraging
• 42:45
  businesses to manufacture domestically, bring jobs,
• 42:48
  industry prosperity to back to parts of the country that
• 42:52
  liberalized trade and outsourcing left behind. the US
• 42:56
  had, or so the argument goes, become more and more reliant on
• 43:00
  competitively priced imports that were often manufactured by
• 43:03
  company, by countries where labor and transportation is much
• 43:07
  cheaper. This led to the emergence of
• 43:10
  Rust Belt states in which blue collar workers saw their living
• 43:13
  standards decline while the cities they lived in were
• 43:16
  hollowed out. The chosen tactic for the grand
• 43:19
  economic configuration, it seems, is trade tariffs.
• 43:23
  By imposing tariffs on foreign goods, especially Chinese
• 43:26
  imports, Trump hopes to make it more expensive for consumers to
• 43:30
  buy products that are made abroad and for companies to
• 43:33
  start outsource to outsource manufacturing.
• 43:36
  This, he claims, will breathe life back into the US industrial
• 43:39
  heartland and make the country more self-sufficient in times of
• 43:43
  crisis. It will also reduce the trade
• 43:45
  deficit, making the US less vulnerable to currency
• 43:48
  manipulation, it goes, he goes on to say.
• 43:51
  However, not only do tariffs have serious economic drawbacks
• 43:54
  that make their successful their success uncertain, they also
• 43:58
  fail to address the root cause of the problem.
• 44:01
  Tariffs are essentially taxes on imported goods, and while they
• 44:05
  may benefit some domestic producers in the short term by
• 44:08
  making foreign goods more expensive, they also increase
• 44:11
  the cost of imports for US consumers and businesses.
• 44:15
  These higher costs, combined with potential retaliatory
• 44:19
  tariffs from trading partners, could hurt US consumers, who
• 44:23
  would face higher prices on a range of goods from electronics
• 44:26
  to clothing, which would hurt economic growth.
• 44:29
  In fact, China has already announced A retaliatory tariff
• 44:33
  of 34%, and they're even considering not enforcing US
• 44:37
  intellectual property rights, which could have a devastating
• 44:40
  impact on US businesses. So it goes on to say.
• 44:44
  Furthermore, it is not possible to simply revitalize domestic
• 44:48
  industry overnight after decades of outsourcing.
• 44:51
  High quality manufacturing requires significant investment
• 44:54
  in machinery, skilled workers and infrastructure, all of which
• 44:57
  has been in steep decline in the US while countries like China
• 45:01
  have been forging ahead. The real challenge facing the US
• 45:04
  economy could be traced back to a much deeper issue, the
• 45:08
  decoupling of the US dollar from the gold standard in 1971.
• 45:13
  Before this, the US dollar was tied to gold, meaning the
• 45:16
  government could only issue as much currency as it had in its
• 45:19
  reserves. This system imposed natural
• 45:21
  limits on money supply and kept inflation under control.
• 45:25
  When President Nixon ended the dollar's convertibility into
• 45:28
  gold, it allowed the US government to print money freely
• 45:32
  without any backing, leading to the rise of Fiat currencies.
• 45:36
  It goes on to say what the US really needs is an alternative
• 45:39
  to Fiat, a form of currency whose values determined by
• 45:42
  market forces rather than government policy.
• 45:45
  Such a currency can provide a hedge against the inflationary
• 45:48
  pressures that have been exacerbated by decades of Fiat
• 45:52
  monetary policy. It can also cultivate the
• 45:55
  conditions for fairer trade and stabilize the global economy by
• 45:59
  providing an alternative store of value that is free from the
• 46:02
  whims of central banks, traditional banking systems, and
• 46:05
  currency exchanges. Fortunately, such a currency
• 46:08
  does exist in the form of Bitcoin.
• 46:11
  The Trump tariffs are unlikely to achieve the desired goals of
• 46:15
  revitalizing the Rust Belt or solving the deeper systemic
• 46:18
  problems within the American economy.
• 46:20
  This is because they do not address the core issue that has
• 46:23
  led to a decline in living standards, namely inflationary
• 46:26
  pressures caused by Fiat currency and constant money
• 46:30
  printing. To address these challenges, a
• 46:32
  fundamental shift in the way we approach monetary policy may be
• 46:36
  necessary. And in Bitcoin, with its
• 46:38
  decentralized nature and limited supply, there is now a viable
• 46:42
  alternative. I mean, I completely agree with
• 46:45
  that. And the reason for that is
• 46:47
  simple, right? Like.
• 46:51
  I. Think we lost them?
• 46:59
  Wow. Oh, you lost me.
• 47:00
  For a while. OK, good.
• 47:01
  Yeah. Oh, he's back.
• 47:03
  Are you back, dude, that you need a generator over there,
• 47:07
  that Puerto Rican Internet to whack?
• 47:09
  Wow. I don't know where Nico was
• 47:11
  going with this. But anyways, I really want to
• 47:13
  kind of take it back to that original Reuters report here,
• 47:17
  and I'm going to pull up and default to Izzy back.
• 47:21
  Izzy back. Alright guys, a little bit of a
• 47:23
  spotty Internet here in Puerto Rico.
• 47:25
  You got to get out of there. It's a beautiful island, but
• 47:30
  I'll be back in my home studio Miami in, in a couple weeks or
• 47:33
  so after I make a pit stop in El Salvador.
• 47:37
  But yes, so just to kind of address that article on the,
• 47:42
  the, the general like theory and the general idea of it, you can
• 47:47
  start bettering your financial life.
• 47:51
  You could start bettering your financial life today and you
• 47:56
  don't have to wait for a politician to solve, to solve
• 47:59
  the problem. I think inherently what people
• 48:02
  have to understand is the base layer of society is
• 48:06
  fundamentally broken. Money is fundamentally broken.
• 48:10
  And if you're just trying to get by, if you're, if you're just
• 48:13
  trying to live and to make it, it's incredibly, it's incredibly
• 48:17
  difficult to, to just live with these inflationary pressures.
• 48:23
  Like people don't like, yes, like the official inflation
• 48:26
  rate, it's 234 percent. But in reality, it's really been
• 48:30
  like 10%, right? If you live on a Bitcoin
• 48:34
  standard today, even if you're middle class, everything around
• 48:40
  you will get cheaper. And this is the case that we've
• 48:44
  been making for you guys for a long time now.
• 48:47
  We need to go get a battery backup.
• 48:49
  I should, right? We've shown you guys this
• 48:53
  website multiple times called pricing Bitcoin, trying to pull
• 48:56
  it up in the background. Let's see if it pulls up.
• 48:58
  But essentially all it does is it prices things like gold, like
• 49:03
  food, like the cost of eggs. We hear that as a political
• 49:06
  talking point all the time. And you'll see that everything
• 49:10
  else, everything gets cheaper as it relates to Bitcoin over time.
• 49:17
  So doesn't that solve the issue versus this very top down
• 49:24
  government approach to solving the problem?
• 49:26
  Like I would make the the case that the reason the middle class
• 49:31
  was absolutely gutted here in the US is because of Fiat.
• 49:35
  I would make the case that that is the cause.
• 49:38
  Not like yes, outsourcing, I think all of that is a symptom,
• 49:43
  but I think the reason that the middle class go ahead, Steve,
• 49:46
  you want to ask that? The reason we don't have the
• 49:49
  middle class is absolutely because of Fiat.
• 49:52
  There's no question about that. You want you want to elaborate a
• 49:56
  little bit. I mean, if you print money like
• 49:59
  they do, then assets just become crazy expensive.
• 50:03
  And that means that people who already own houses and already
• 50:06
  own assets just get wealthier and wealthier.
• 50:10
  And the people that are living on a paycheck because their
• 50:13
  paycheck doesn't keep up with asset inflation, they just get
• 50:16
  poorer and poorer. So I mean, that just like
• 50:18
  naturally spreads out the wealth gap.
• 50:21
  It's I, I don't think there's any question about that.
• 50:26
  Yeah, 100% no. And I completely agree with you.
• 50:28
  I think, I think this is a symptom.
• 50:30
  I think that what you're watching, what you're seeing is
• 50:32
  a symptom of the problem. And yeah, I 100% agree.
• 50:38
  Otti, do you want to do you have any thoughts on what Steve was
• 50:42
  saying? I mean, I think a lot of people
• 50:44
  are just getting distracted with the whole tariffs thing.
• 50:47
  And again, I think this like whole top down approach to fix,
• 50:51
  I mean, you can't, you can't. Like it's very difficult to
• 50:56
  criticize the attempt, right? Because it's like, it's a noble
• 51:00
  attempt. Like what Doge is doing is it's
• 51:02
  noble. It's trying to cut government
• 51:04
  spending. You know, let's give the power
• 51:07
  back to the middle class. It's a noble, it's a noble
• 51:09
  attempt. But I think we had shadowbite
• 51:12
  says, I mean, this isn't really surprising TBH.
• 51:16
  Appreciate the $2.00 dude, but it is a noble attempt.
• 51:20
  Like you can't deny that it's not a noble attempt.
• 51:22
  But what I will say is like it doesn't address the root cause
• 51:29
  of a lot of this, as Steve was saying.
• 51:31
  And the root cause is the government has the ability to
• 51:34
  create money for free that everyone else has to work for.
• 51:38
  And that leads to massive wealth inequality.
• 51:41
  And that leads to a concentration of wealth not only
• 51:44
  within the government, but also the, you know, the, the top
• 51:48
  percentiles because their assets get, you know, there, there's
• 51:53
  asset appreciation every time they debase the currency.
• 51:57
  So Opti, do you want to add to that before we hit the culture
• 52:00
  segment and stop and talk to Steve about what he's working on
• 52:03
  these days? No, no, I, I don't really want
• 52:05
  to add to the the second news topic, but I do kind of want to
• 52:08
  add to the first news topic and I'm going to just pull some
• 52:11
  sources here up on Twitter. Shouts out to Lola Lee.
• 52:14
  She's behind the rage. I highly suggest Jess you guys
• 52:17
  go check it out at the rage tech on Twitter and she goes the
• 52:21
  broker rule is officially dead. No mandatory KYC for non
• 52:24
  custodial services, at least from the IRS.
• 52:27
  This is a major win for privacy. So huge news and then Calle
• 52:32
  Bitcoin or Cali Bitcoin. He's behind the E cash stuff or
• 52:35
  sorry cashew. Wait, is it cashew?
• 52:38
  Anyways, anyways, he says since privacy is now legal again,
• 52:42
  we're going to have to ship subversive Bitcoin technology as
• 52:44
  hard as we can for the next 4 years.
• 52:46
  So that's the take away here guys.
• 52:49
  Again, you know, it looks like we might be having some
• 52:52
  favorable stuff happened in the US.
• 52:53
  I'm, I'm pretty excited for this.
• 52:55
  This is, this is good news. So let's, let's go into the
• 52:57
  culture because I'm super excited to talk with Steve about
• 53:00
  what he built. I was asking him a bunch of
• 53:02
  questions before the show. I was telling him, I saw this on
• 53:05
  Twitter like 3 days ago and I don't know if I was tired when I
• 53:08
  looked at it, but I, I could not make sense of what I was looking
• 53:11
  at. So I'm glad that we can do this
• 53:12
  live and I think this is really cool.
• 53:14
  So hit the, hit the transition, Nico, let's get into it.
• 53:17
  Hi, everybody. We're going to hit the culture
• 53:19
  segment. We have tons to talk about.
• 53:20
  We'll be right back. I want to give a shout out to
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• 55:22
  All right, all right. We're back.
• 55:24
  We're back. We're back.
• 55:25
  OK, Steve, I'm just going to RIP the Band-Aid off.
• 55:30
  What what are we looking at here?
• 55:32
  What is UTX Oracle? What what is this?
• 55:35
  And I'll zoom in so people and and it didn't crash on us.
• 55:37
  So that's that's awesome. What what is this?
• 55:40
  What are we looking at here? Explain this to the people.
• 55:43
  What? What is UTX Oracle?
• 55:47
  UTX Oracle is kind of a big deal, man.
• 55:50
  UTX Oracle is the discovery that the Bitcoin price is on chain.
• 55:55
  No one kind of thought this was possible and the Bitcoin price
• 56:00
  being on chain in a big way like it is is it's important for a
• 56:05
  couple reasons towards the solution to the Oracle problem.
• 56:11
  This is the decentralized price of Bitcoin.
• 56:16
  People are normally familiar with checking their price using
• 56:19
  like a app or you going to an exchange or website.
• 56:23
  coinmarketcap.com, Coin Gecko, you know, you guys were showing
• 56:27
  the price from Clark Moody's dashboard earlier.
• 56:31
  Clark Moody's dashboard, just like all these other websites
• 56:34
  just has some API on the back end and they're just contacting
• 56:37
  an exchange or contacting a couple of different exchanges
• 56:41
  and getting an average or something.
• 56:43
  So these are third party ways of getting the Bitcoin price.
• 56:47
  UTX Oracle is the breakthrough that the Bitcoin price is
• 56:51
  directly on chain. You can get the Bitcoin price
• 56:54
  directly from your node and not just from somebody just riding
• 57:00
  the Bitcoin price as some memo opportunity transaction, but by
• 57:06
  actually monitoring all Bitcoin transactions at the same time
• 57:11
  and looking for these clusters where people send round amounts
• 57:15
  of dollars. Not to get too technical, but
• 57:19
  it's pretty simple if you just think about somebody spending
• 57:23
  exactly $100. If if you know that somebody was
• 57:28
  spending exactly $100 in a Bitcoin transaction, all you
• 57:33
  have to do to find out what price they used is divide $100
• 57:37
  by how much Bitcoin they sent. It is that simple.
• 57:43
  I I'm simple Steve so it has to have this simple Steve property
• 57:47
  in order to me work on stuff so. This is so freaking cool bro I
• 57:53
  didn't even know this existed. Hold on, how is this even?
• 57:57
  How is this even? How is this even possible bro?
• 58:00
  This is ridiculous. This is kind of a big deal.
• 58:02
  I I think people are so you're. Like a billionaire, right?
• 58:05
  You're like going to be. Like a you're like, yeah, right.
• 58:09
  Well, dude, well, I'm, I'm so grateful to like, have you on
• 58:12
  the show before you become like world famous because this is
• 58:15
  ridiculous. OK, so hold on.
• 58:17
  I have so many questions. I'm sorry, Opti.
• 58:21
  I I asked him before this show, so I have some stuff to fill in
• 58:24
  the gaps, but go and you could do it live.
• 58:25
  It's better if you ask questions I'm.
• 58:27
  Blood blown right now. I, I OK, hold on it.
• 58:29
  So what you're saying is you have somehow managed to get the
• 58:37
  price of Bitcoin using information from the blockchain
• 58:42
  rather than information from exchanges you have?
• 58:46
  There is no, there is no information from exchanges used
• 58:51
  in that dashboard that we're looking at.
• 58:53
  Absolutely none. That is 100.
• 58:55
  Percent. Oh my God, dude.
• 58:59
  OK. How did you do that?
• 59:03
  It's, it's like I just said I will.
• 59:05
  So I've been rendering UTXO heat maps for 10 years now.
• 59:10
  So I, I've been in this game for a long time and I noticed a
• 59:13
  while ago that people were sending round amounts of U.S.
• 59:17
  dollars, like specifically $100.50 dollars, $20 a $1000 and
• 59:23
  just really high quantities way more than any other random
• 59:27
  amount. And then I was like looking at
• 59:29
  it closer and I was like, wait, if I know that they're sending
• 59:34
  exactly $100 and I know how much Bitcoin they sent, then the
• 59:38
  price that they use to send that $100 is just $100 divided by the
• 59:43
  Bitcoin. And I was like, so I just need
• 59:46
  to zoom in here and I just need to divide every transaction by
• 59:51
  $100 and you'll see that this massive cluster appears right
• 59:58
  there, 'cause, you know, those transactions are people sending
• 1:00:01
  all random amounts. You know, I'm not hiding, I
• 1:00:03
  mean, I'm doing a little bit of filtering for like ordinal stuff
• 1:00:08
  and, and perfectly round amounts of Bitcoin.
• 1:00:11
  But I everything else, I'm just plotting all the data and the
• 1:00:16
  price just emerges itself. Like I don't do anything to
• 1:00:19
  calculate that price. It those are those are just
• 1:00:23
  people sending 100 exactly $100. Exactly $50, exactly $1000 just
• 1:00:29
  right now like that min pool is perfectly live and you can every
• 1:00:34
  few seconds somebody sends a round amount of U.S. dollars and
• 1:00:39
  every time they send a round amount of U.S. dollars, they had
• 1:00:41
  to use some price in order to figure out how much Bitcoin that
• 1:00:44
  was. So all the prices of all the
• 1:00:47
  exchanges all around the world that are all going into people
• 1:00:50
  making round U.S., dollar Bitcoin transactions, all of
• 1:00:54
  that information is getting collected here and it's 100% on
• 1:00:58
  chain. Everybody can like pull this
• 1:01:00
  data out of their node. Everybody gets the exact same
• 1:01:02
  price, totally decentralized. There's a version of this that's
• 1:01:06
  open source. Obviously I haven't open sourced
• 1:01:08
  the YouTube stream of it, but next week I'm going to work on
• 1:01:14
  open sourcing more of the visualization visualizations.
• 1:01:19
  But yeah, UTXO dot pro and the open source code just to get
• 1:01:23
  like the average price is already there.
• 1:01:26
  Just doesn't have like pretty visuals right now.
• 1:01:29
  Dude, this is effing amazing. Congratulations.
• 1:01:35
  This is a, this is, this is enormous, bro.
• 1:01:38
  This is, this is massive. And, you know, it was clever how
• 1:01:43
  you went about it. And I'm just thinking about it.
• 1:01:45
  I was like, yeah, I've sent $100 worth of Bitcoin.
• 1:01:47
  Yeah, like, you know, yeah, it's, it's, it's just, it's so.
• 1:01:53
  I mean, wouldn't you say, though, that it was like, 'cause
• 1:01:56
  like, I'm just like, I'm like kind of recollecting, like I
• 1:01:59
  remember Opti remember these days when $100 used to get you a
• 1:02:02
  million sats? Good old days.
• 1:02:06
  And I remember I would just like Smash by Yeah, like everyone in
• 1:02:11
  the chat, like, holy cow, this is huge.
• 1:02:14
  I remember I would like like Smash by like $100 on on, you
• 1:02:20
  know, the, the none of the Bitcoin only exchanges existed
• 1:02:23
  back then, but you know, just smashed by like $100, you know,
• 1:02:27
  because $100 would equal 1,000,000 SAT's.
• 1:02:30
  And, and for me in my mind I was like it's $100, right.
• 1:02:33
  I wasn't saying it's 100 and 2020 dollars.
• 1:02:35
  I wouldn't say it's $80.00. I would say it's $100.00.
• 1:02:37
  So this may, this is, this is, this is genius, man.
• 1:02:40
  This is great. It's it's great to have met you
• 1:02:43
  before you become world famous and a billionaire so we could
• 1:02:47
  actually get you on the show. But this is this is incredible.
• 1:02:51
  It's kind of AI mean. I don't know if I'll become
• 1:02:54
  rich. I I'm still thinking about
• 1:02:56
  business models that I can make. If anybody out there has like a
• 1:02:59
  business idea for this, and you know, I've, I've not a
• 1:03:02
  billionaire, but I have a little extra money, if, you know,
• 1:03:05
  somebody wants to start a business about this, just get in
• 1:03:08
  touch with me. You know, I'm not going to like
• 1:03:10
  sue you or anything, but like, I'm interested in joining you if
• 1:03:14
  you have a business idea for this.
• 1:03:16
  So yeah, I mean, Code's open source.
• 1:03:20
  We actually we have a we have a couple questions in the in the
• 1:03:23
  chat here. So one is by psycho and he says,
• 1:03:28
  is there an API to UTX Oracle or, or you just you said it's
• 1:03:31
  open source, so maybe you plug your own note in, you know,
• 1:03:34
  what's what's the mechanic? How can people use this?
• 1:03:37
  Well, yeah, right now it's live streaming on YouTube and you can
• 1:03:41
  get to that link through UTXO dot pro.
• 1:03:44
  In terms of an API, it's more like I'm going deeper than that.
• 1:03:48
  I'm, I'm going to give people the opportunity to run this
• 1:03:52
  directly from their own node so they don't have to contact me at
• 1:03:57
  all. I am kind of a purist in that
• 1:04:00
  way. Like I, I want this to be kind
• 1:04:04
  of the default price because if there's anything that makes
• 1:04:08
  sense to be the default price of Bitcoin, it's this because it's
• 1:04:12
  the price that it's on chain, it's the price that everyone can
• 1:04:14
  get independently. So if I start providing an API
• 1:04:19
  for people, I mean, maybe I will eventually, but right now I'm
• 1:04:24
  focused on getting people, one, in the YouTube chat so that they
• 1:04:29
  can like see this and talk about it just like you guys do.
• 1:04:32
  And two, like people actually running this code like from
• 1:04:35
  their node so they can see that it's real and that it's all the
• 1:04:38
  same. Awesome, awesome.
• 1:04:40
  And then there's there's some questions around the $100.00 so
• 1:04:43
  or maybe it's this kind of like a comment, but it's kind of a
• 1:04:46
  question. So RL goes, oh, OK, so that's
• 1:04:48
  the assumption then that people are sending round amounts in
• 1:04:51
  dollars or their currency of choice and not a round amount of
• 1:04:54
  SAT. But you did tell me before the
• 1:04:56
  show you did consider you know round amount of SAT like a
• 1:04:59
  million, 100,000 stats, etcetera, etcetera.
• 1:05:02
  So you want to comment on this? Yes.
• 1:05:04
  So people send round amounts of SAS and very high frequency as
• 1:05:07
  well. People send exactly .001 Bitcoin
• 1:05:11
  a lot. I filter out those.
• 1:05:14
  Not that I have to, just because if I didn't, you'd see a lot of
• 1:05:18
  straight lines in addition to the priceline in there.
• 1:05:21
  It just makes the price come through cleaner.
• 1:05:23
  But people have started to send round amounts of dollars more
• 1:05:28
  than they send in round amounts of Bitcoin.
• 1:05:30
  This changed in about 20/17/2018.
• 1:05:33
  It used to be the case that people just sent round amounts
• 1:05:36
  of Bitcoin. I mean before 2013 we didn't
• 1:05:38
  really even have a price, but around 2020 people started
• 1:05:43
  sending round U.S. dollars more than round Bitcoin, if that
• 1:05:48
  answers the question. But I do also remove perfectly
• 1:05:52
  round Bitcoin just for the visualization really and it
• 1:05:55
  doesn't really affect the price. I mean, yes, this assumption is
• 1:05:59
  that people's been round dollars all the time.
• 1:06:03
  And guess what? It's a great freaking
• 1:06:05
  assumption. It happens multiple times a
• 1:06:07
  second. Look at those dots flowing in on
• 1:06:10
  the right. I mean, people send round U.S.
• 1:06:12
  dollars all the time. There's like 25,000 U.S. dollar
• 1:06:17
  round U.S. dollar transactions everyday.
• 1:06:21
  So good luck stopping that. I mean, you could, you could buy
• 1:06:25
  up all the block space if you want, but other than that,
• 1:06:30
  you're not going to stop this signal.
• 1:06:33
  Love it. And we have like an another
• 1:06:35
  question, but I'm going to like tackle in my own question in
• 1:06:38
  here. So buck 52,000 goes talk to me
• 1:06:41
  like I'm 5. How can I use this to my
• 1:06:43
  advantage? And I'm going to add on top of
• 1:06:45
  this, is this price in your opinion more accurate than what
• 1:06:49
  you see on exchanges? What you see on exchanges, it's
• 1:06:54
  it's pretty much exactly the same.
• 1:06:56
  I mean, on that website UTXA dot pro, if you Scroll down a little
• 1:06:59
  bit, I show you the comparison between this thing and and
• 1:07:03
  Coinbase over the years. So I've I've back tested this.
• 1:07:06
  I've basically just replayed the blockchain and I've showed you
• 1:07:09
  the average price that it gets. It's pretty much perfectly, you
• 1:07:13
  know, within the range of the variance of the exchanges
• 1:07:17
  themselves. But the thing about the
• 1:07:20
  exchanges is that like it like the exchange is sort of the
• 1:07:24
  price of paper Bitcoin. You know, we were talking
• 1:07:26
  earlier about the government not actually holding the Bitcoin
• 1:07:29
  people that buy Bitcoin on Coinbase and leave it on an
• 1:07:32
  exchange. I mean, is that the price of
• 1:07:34
  Bitcoin or is that the price of of paper Bitcoin?
• 1:07:36
  The way you know that it's real Bitcoin is when somebody makes a
• 1:07:39
  withdrawal, you know, when somebody makes a Bitcoin
• 1:07:42
  transaction, that is the price of actual Bitcoin being traded.
• 1:07:46
  So people always ask me like, oh, how's this compared to the
• 1:07:50
  real price? And I'm like this kind of is the
• 1:07:53
  real 1. Is the real price.
• 1:07:54
  Yeah, it's like. Are we talking about the price
• 1:07:57
  of paper Bitcoin or are we talking about actually settled
• 1:08:02
  transactions? These these are actually settled
• 1:08:04
  transactions. Absolutely incredible.
• 1:08:06
  All right, one more question from my end and then we, we can,
• 1:08:10
  you know, give you a last plug Excetera.
• 1:08:12
  But you said earlier and I, I think it'd be a, a missed
• 1:08:16
  opportunity if we don't expand on this, but you said this might
• 1:08:19
  be a fix to the Oracle problem in, in regards to the price.
• 1:08:24
  Could you explain this a little more for people?
• 1:08:26
  Yeah, so a long standing problem in Bitcoin is the Oracle
• 1:08:30
  problem. How do you, if you need the
• 1:08:33
  price of Bitcoin to settle a contract either with, you know,
• 1:08:37
  somebody you make a deal with or a futures contract, options
• 1:08:40
  contract. It's kind of like the, the
• 1:08:42
  decentralized Oracle problem is like how do you trust the person
• 1:08:46
  that tells you what the price is to settle the contract?
• 1:08:49
  This is a way of, of it's, I won't say it is the solution,
• 1:08:55
  but I'm kind of pretty sure it's the solution.
• 1:09:00
  This solves the Oracle problem by providing an open source code
• 1:09:04
  where everybody gets the exact same price from the blockchain.
• 1:09:08
  So everyone, you don't have to trust anybody.
• 1:09:11
  Everyone can get the price themselves.
• 1:09:14
  It's a perfectly accurate price. And so I mean they, it's, I
• 1:09:20
  don't know, I don't want to say it's the solution, but it's,
• 1:09:22
  it's, it's really close to the solution to the Oracle problem.
• 1:09:26
  This is fucking bad ass man good for you.
• 1:09:28
  This is really cool. I love bitcoiners.
• 1:09:31
  We get opti and I get surprised all the time.
• 1:09:35
  You know when we have people on the culture segment.
• 1:09:37
  You just have bitcoiners working on so much cool stuff and you
• 1:09:40
  guys get to see nico's live reaction every time and this is
• 1:09:44
  just this is incredibly awesome, man.
• 1:09:46
  I, I, you know, it's really cool how you were, how you were able
• 1:09:51
  to use your 10 years of experience just analyzing
• 1:09:56
  essentially the Bitcoin blockchain and putting in some
• 1:09:59
  variables in there to give you data, which is so incredibly
• 1:10:04
  awesome. And just go ahead.
• 1:10:07
  I was just going to answer one of the questions good question
• 1:10:09
  on in the chat was this is just a derivative of the average
• 1:10:14
  price on exchanges. Exactly.
• 1:10:18
  That is exactly right. But ask yourself what is the
• 1:10:23
  best way to average all of the prices on all the different
• 1:10:26
  exchanges? If you were given that problem,
• 1:10:29
  how would you do it this? The way this one does it is it
• 1:10:33
  averages all the prices on all the exchanges to the extent that
• 1:10:38
  that price was used in making an on chain transaction.
• 1:10:42
  It's a very natural and elegant average of all the prices out
• 1:10:46
  there. Yeah, no, this is this is super
• 1:10:50
  cool, man. And.
• 1:10:51
  I want to add one thing, 'cause like, I think Steve also kind of
• 1:10:55
  proved a point that a lot of us Bitcoiners say about the Bitcoin
• 1:10:59
  time chain or the block chain in general.
• 1:11:01
  It's like this is the only real data in the world.
• 1:11:05
  And like, if you're not basing everything you're doing around,
• 1:11:08
  the only true data in the world that isn't manipulated is the
• 1:11:11
  Bitcoin time chain. Like you're completely lost and
• 1:11:14
  you're using the real time on chain metrics to get the price.
• 1:11:18
  And I, I think this is just a beautiful example of that.
• 1:11:20
  Like the time chain, you know, data on, on chain data is, is
• 1:11:26
  the only real data in the world right now.
• 1:11:28
  And you figured out a way to get the price just straight from the
• 1:11:30
  data. I I think that's incredible.
• 1:11:33
  Yeah, thanks. 100% Well dude, first of all, thank you for
• 1:11:38
  coming on the show. This is incredibly awesome
• 1:11:42
  sharing this and just to kind of tie in with what we were talking
• 1:11:45
  about in the beginning, like look at all the things that you
• 1:11:47
  can do with the public Ledger. You know, there should be
• 1:11:51
  absolutely no excuses if you are a public entity or a government
• 1:11:57
  as to why you can't show your reserves.
• 1:11:59
  If you could pull off this type of ingenuity and innovation with
• 1:12:03
  just the data available to you, you know, there's no excuse, you
• 1:12:07
  know, and this applies to some exchanges have been better than
• 1:12:11
  others in this regard. But you know, the most awesome
• 1:12:15
  part about Bitcoin is its public Ledger, right?
• 1:12:17
  It's it's a, you know, you don't have to trust people.
• 1:12:20
  It's not a trust me, bro. And that's OK because there's a
• 1:12:23
  lot of people are like, what do you mean you don't trust me?
• 1:12:25
  It's like, I think it'd just be a better world if it's less
• 1:12:28
  trust me, bro and more don't trust verify bro type of world,
• 1:12:32
  you know. So, Steve, thank you so much for
• 1:12:35
  coming on, bro. I really appreciate it.
• 1:12:37
  Incredibly freaking awesome. What it is you're working on
• 1:12:42
  Opti? Did you want to?
• 1:12:43
  See. Yeah, last, last thing before,
• 1:12:45
  before Steve signs off. Will you plug the website?
• 1:12:48
  And then our boy Jacob is a huge fan of something else that you
• 1:12:54
  do. So let's plug that before we
• 1:12:56
  sign off today. Oh yeah, so the website is utxo
• 1:12:59
  dot pro. You can also just find UTX
• 1:13:02
  Oracle on YouTube. And yeah, the reason I know
• 1:13:05
  about simply is the my boy Jacob works for you guys and we met at
• 1:13:10
  the Raleigh Bitcoin meet up. So come out and see us that we
• 1:13:15
  kind of have a a bar here crafty where we have our meet ups at.
• 1:13:20
  So if you're in Raleigh, NC, look up meetup.com Raleigh
• 1:13:25
  Bitcoin Meet up and come check us out.
• 1:13:27
  Super cool. We'll do.
• 1:13:29
  Thank you for thank you for coming on the show guys, before
• 1:13:32
  we sign out, I do want to give a extremely special shout out to
• 1:13:36
  simply Bitcoins lead sponsor. I mean, not lead sponsor, simply
• 1:13:40
  bitcoins sponsor. Sorry guys, it's Friday.
• 1:13:42
  I'm tired. They're not the lead sponsor
• 1:13:44
  Bitcoin well, is the lead sponsor.
• 1:13:46
  Best place to build your Bitcoin stack, but simply Bitcoins
• 1:13:50
  conference, Sir, Bitcoin 2025. It's the biggest Bitcoin
• 1:13:54
  conference. That's why I said biggest.
• 1:13:56
  OK, it's the biggest Bitcoin conference of the year.
• 1:13:59
  It's in Las Vegas, NV. I call it Bitcoin Super Bowl
• 1:14:02
  weekend because you'll have the biggest non Bitcoin speakers.
• 1:14:07
  Like last year we had President Trump.
• 1:14:09
  They've already announced some pretty crazy ones this year.
• 1:14:12
  Let me see if they put him on the program as of yet.
• 1:14:14
  Oh, hi. And David Sacks.
• 1:14:16
  Ross Ulbricht is going to be making an in person appearance
• 1:14:20
  this year. You had Bo Hines, of course.
• 1:14:23
  We talked about him today. David Sacks, Senator Lummis, Of
• 1:14:26
  course. Michael Saylor.
• 1:14:28
  Lynn Alden. Yeah, they're going to get the
• 1:14:30
  astronaut. Let's go the.
• 1:14:34
  What was he doing? Yeah, Chun Wong, you have
• 1:14:37
  Cameron and. All the flat earthers he you can
• 1:14:39
  ask him whether the space is real.
• 1:14:41
  Yeah, so this dude, it's going to be an awesome.
• 1:14:44
  I mean, Ross, bro, look at that. Look at that Freedom fighter.
• 1:14:48
  Hell yeah Freedom winner dude. So you guys definitely don't
• 1:14:52
  want to miss this Bitcoin conference.
• 1:14:54
  It's going to be awesome again Las Vegas, NV May 27th through
• 1:14:59
  the 29th Embrace game theory. It's going to be called you can
• 1:15:03
  use promo code simply to get 10% off.
• 1:15:07
  You definitely don't want to miss this the entire simply
• 1:15:09
  Bitcoin crew. We will be there and we will
• 1:15:12
  have a booth. We will be making content from
• 1:15:14
  the conference floor. We hope to you see you guys
• 1:15:17
  there. We love you all.
• 1:15:18
  We appreciate you all thank you guys so much for tuning in to
• 1:15:21
  simply Bitcoin this this week. This show would not be possible
• 1:15:25
  without you guys smash the like button consider subscribing
• 1:15:28
  share the content. We love you all I'm your host
• 1:15:31
  Nico. It's my legendary Co host who's
• 1:15:34
  mostly optimistic optimist fields and I'm.
• 1:15:37
  Human here too, Nico. I'm still human here as well,
• 1:15:40
  OK? And our special guest, shadowy
• 1:15:44
  super coder genius Steve, who's doing some awesome things with
• 1:15:50
  the on chain data. Appreciate you Steve.
• 1:15:54
  Thank you for coming on guys. We love you all.
• 1:15:55
  Go outside, touch some grass, touch some sand, eat some
• 1:15:58
  steaks, enjoy your family, and we'll see you Monday for a brand
• 1:16:01
  new episode of Simply Bitcoin LA.
• 1:16:05
  Today's episode was brought to you by Bitcoin Well Calm, a
• 1:16:09
  Bitcoin only platform on a mission to enable financial
• 1:16:12
  independence.