Latest / Simply Bitcoin / Bitcoin Just Got A Major Upgrade You Never Heard Of | EP 603

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Bitcoin Just Got A Major Upgrade You Never Heard Of | EP 603 · Simply Bitcoin

• 0:15
  Yo today is October 18 20 22. Welcome to Simply Bitcoin live.
• 0:20
  We are your number one source for the peaceful Bitcoin
• 0:23
  Revolution cover breaking news culture romantic Warfare.
• 0:26
  We will be your guide through the separation of money and stay
• 0:29
  anyways. Today.
• 0:30
  Today we have a very special guest.
• 0:32
  We he's already been blowing my mind and I've only had a chance
• 0:35
  to talk to him about 10 minutes backstage.
• 0:39
  I want to welcome the legendary, the one, and only Beauty on how
• 0:42
  you doing. Welcome to Simply, thank you for
• 0:44
  having me Nico. I'm really excited for this
• 0:47
  show. I'm already pumped.
• 0:49
  I know Opti is to. He was telling me about it
• 0:51
  because my legendary co-host, the one and only always
• 0:54
  optimistic. How about Kyle house?
• 0:56
  I'm super excited for this. I love, I love reading Beauty.
• 1:00
  His work. So I'm just pretty hype that we
• 1:02
  can do this today and continue to spread the signal for people
• 1:05
  out there. So I'm or if my section around
• 1:09
  some of beauty and writings and hopefully we can get some, you
• 1:12
  know, some more signal and some clarity out there for the people
• 1:15
  that don't understand what you're saying, which I think is
• 1:17
  very clear but hey there's still misconceptions on Twitter.
• 1:20
  So I'm excited for today. I'm really excited.
• 1:23
  So today guys, we're also going to talk a little bit.
• 1:24
  Some Marty bent drop in the sauce.
• 1:27
  He released a post talking about.
• 1:29
  A potential upgrade to bitcoin. What it what it means?
• 1:33
  We're going to talk about at the significance of all that and I'm
• 1:36
  99% sure. Most of you have not heard about
• 1:39
  it. So I think it's going to be a
• 1:40
  really good show. I'm really excited.
• 1:42
  Let's do this. Number time brought to you by
• 1:47
  novel at this point, you should be running your own Bitcoin
• 1:50
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  version of Bitcoin core. The lightning Network,
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  whirlpool, and Dojo all from the comfort of your own home.
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  server. Visit not L.A you today.
• 2:10
  All right, everybody that time of recording the Bitcoin price
• 2:12
  is at 19. 1424 SATs per dollar for now it's called Moscow.
• 2:17
  Time for now 5000 148 block height seven hundred fifty nine
• 2:21
  thousand two hundred thirty nine blocks to The Happening 14,500.
• 2:25
  11 having estimate April twentieth, twenty twenty four
• 2:28
  blocks to The Happening. 80,000 761 total, lightning network
• 2:32
  capacity, 4970, three capacity value, 96 million USD.
• 2:37
  I hope that breaks 100 million and it stays above their realize
• 2:41
  monetary inflation. Once again Bitcoin, Taking Fiat
• 2:44
  currencies to Absolute School 1.78 percent.
• 2:46
  That number is going to keep decreasing and we know Fiat
• 2:50
  inflates forever market capitalization, three hundred
• 2:53
  and seventy two billion dollars. I picked a screenshot of a
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  Reddit post, specifically for Beauty on and I think I want to
• 3:01
  talk about the significance of this.
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  How it's going to change the world?
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  I'm just going to read some of it.
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  I'm going to pass the mic to Beauty on, so let's check it
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  out. This is, it was deleted post and
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  this is mungo's brains. Storm.
• 3:13
  This is a feature, not a bug. I just exited a country with a
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  million dollars worth of bitcoin.
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  So many people just get stuck on the fact that Bitcoin is
• 3:21
  intangible but I say that's a good thing just like you can't
• 3:25
  hold what you can't see. You can't confiscate what you
• 3:28
  can see either. I got on a flight with my seed
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  phrase on me and there was absolutely no way anyone could
• 3:33
  have known about my Bitcoin. There isn't a single asset that
• 3:36
  could have. Let me do this freely.
• 3:38
  Sure, there are shit coins and stable coins.
• 3:40
  Other than them being centralized.
• 3:42
  They aren't even built. Money.
• 3:44
  They're all promises or straight up Monopoly.
• 3:46
  Money my conviction about Bitcoin is higher than ever
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  ever. Even if people don't like
• 3:50
  Bitcoin now they will surely need it at some point in their
• 3:53
  life and it might be too late, then I'll continue to buy all
• 3:57
  the Bitcoin that the paper hand sell to me.
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  So a couple things here and I've actually tweeted this.
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  The fact that you could store millions billions if not
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  trillions of dollars in your mind by memorizing, a 12 word
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  phrase is going to fundamentally Totally change, everything.
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  Beauty on, what are your thoughts on this?
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  I'm really excited to hear what you have to say.
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  Well, you could actually store all the Fiat that's ever going
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  to be printed on the on in a seat phrase inside your mind.
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  The whole nature of the fraud of Fiat means that it is an
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  infinite. Surprise is nothing more than
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  text on a piece of paper that anybody can print out.
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  And so if you can compress that into See Fred you can have all
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  the filters are printed in your mind but more important than
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  this. What this demonstrates is that
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  it will not be possible to stop people from moving money quote
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  on quote from A to B anymore because everybody had anybody
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  who can remember 12C phrase or can write it down in a book in a
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  way that nobody will know that carrying it can carry money from
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  A to B and then unlimited amount of money that means the The
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  voluntary Society, the polite Society is on the brink of
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  coming out of the womb because when the state has to ask nicely
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  for which they can't go to Chase, they can't go to j.p.
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  Morgan and freeze your account because there are no accounts.
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  And this is why it's so important that people who are
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  running Bitcoin Services, don't rely on third-party aggregators
• 5:39
  to supply their connection to bitcoin D and the Bitcoin.
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  That's what absolutely essential but you control your own Keys.
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  Otherwise the old system is going to be replaced with a new
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  system, only a little bit with a little bit less friction.
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  This is a sea change in how things are done and in order to
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  get a take advantage of that, sea change to get on the boat of
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  that sea of sea change. You have to control your own key
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  that you have to use the right tools in the right way and then
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  you'll be free. Now, what kind of man?
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  Doesn't want to be free. What kind of man thinks that
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  somebody else should have ultimate control over their
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  money? I put it to you, that that is
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  not a man at all. That's some kind of creature.
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  And, of course, there's some people who are too scared to be
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  able to remember 12C phrases or write them down.
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  Maybe they're even a literate, who knows?
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  So for them, they'll be other services that will be suitable
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  for them, but if you are literate, you have memory to be
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  able to remember 12 words. And know how to use a pen to be
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  able to mark in a book. 12 words that you have your seat frames,
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  then you are under nobody's control and that's the way it
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  should be. And people have to treat you
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  pull up with politeness if they want anything from you.
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  And people means anybody, there's not going to be anybody
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  who is above you, who can demand that, you pay them anything
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  automatically they're going to have to do something to you like
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  lock you up, or do something like that.
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  And then we're into another Stage of the violence of the
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  state and remember. Also, it's not possible for them
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  to interdict everybody. There's not enough police to
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  police everybody in the west, never mind the whole world, and
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  when the billions who are coming on to bitcoin wake, up to this
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  and they will wake up to it, then the system is going to
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  transform into something else. A more polite Society, where
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  coercion is not the first line of attack against the Ville and
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  the nature of government is going to change.
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  Also they're not going to be able to do all of the nasty
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  violent, and ridiculous things that they're able to do by
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  printing money in Pint. Everybody's backs and stealing
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  the money from people who have put their savings into those
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  so-called Banks that's going to end to.
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  And so many things are going to change when the regime of
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  Bitcoin is the universal overlay over the global economy and
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  anybody who thinks that this is not going to happen.
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  Then I have news for you you're absolutely wrong.
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  Other things that have been transformative.
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  Like this have happened against the wishes of those people who
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  are quote unquote in control and Bitcoin is no different because
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  it's actually not money. It's just a database many other
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  database tools, whether it be BitTorrent or many other things
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  have spread all over the world in a way that cannot be
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  controlled. Now that these two ideas have
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  been put into into one thing, the idea of databases that are
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  disintermediated for one of the better description and money are
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  now in one thing and money being half of all transactions.
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  This is a sea change in how everything is going to work and
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  there's nothing anybody can do about it.
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  You can either fight against it and lose or go along with it and
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  prosper. And everybody is going to
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  prosper by the way, under Bitcoin, it's not a destructive
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  thing. When tired entirely constructive
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  thing and all those people who have concerns about the
• 9:19
  environment, they're not looking at it at the in the correct way
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  the consumer Society where all sorts of frivolous goods are
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  over consumed in a thorough way, further away like they worth
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  nothing. Actually most them are but
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  there's no story this world is going to disappear.
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  When the economy turns from one of spending on to saving, people
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  won't be frivolous with their money anymore.
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  The our society will be replaced by a society of thrift which
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  means that the garbage producing Industries will all shrivel up
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  and go away replaced by industries, that produce things
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  that are designed to last. Whether it's a pair of shoes, a
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  belt, a shirt, or lovely jumper. Like the one I'm wearing,
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  they'll be made to last and so they won't be seasonal changes
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  of everybody's clothes people, things like Primark, which are
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  designed basically, to Make people go and waste money.
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  Those are all going to go away because everybody's going to be
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  saving and I'll be worth saving because your money in the bank
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  won't be diminished by inflation of the vast.
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  Majority of people don't understand the Dynamics of
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  inflation government produced money, always think.
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  But when the feeling of what's changed gets into the general
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  population, when the feeling about what this actually means
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  starts to take, hold people will A matically start saving money
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  because the prices of things will be changed in the market
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  and they're all denominated in Bitcoin.
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  And I don't know how far along in the future.
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  This is going to be but it's definitely going to happen.
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  If Bitcoin continues to exist and continues to spread and of
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  course, we're doing our level best to make that happen.
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  Oh man that was that was amazing, holy crap.
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  So many ideas that I think we kiss again.
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  If you've been in Bitcoin long enough and you understand the
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  significance Of individuals hundreds of millions of
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  individuals holding their own private Keys, it fundamentally
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  changes, the relationship between individual and the
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  state, right? It moves the balance of power
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  like, I always say on the show, and I don't think we fully
• 11:27
  understand the significance of that.
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  But if you're a big believer in the free market, right at the
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  free markets, never going to have its never had that much
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  Freedom, right? I don't know how else to phrase
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  it. Right.
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  Exactly. Right.
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  And, you know, the idea that you can have a free market it where
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  the form and supply of money is under the control of the state
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  is, is observed in or time to feed Market.
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  You have to have a free market in form and supply of money
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  that's used by everybody. And the people who have been in
• 11:58
  charge of that know that private monies are very very dangerous
• 12:02
  because all of the plans and mesh Nations that they're
• 12:07
  they're working on all. Depend on an unlimited supply of
• 12:13
  money that they can manufacture at will, that's how they're able
• 12:17
  to have this military industrial complex surveillance state, in
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  the length of the business, it cannot be paid for if the money
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  supply is limited. And so that's not the only
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  thing. There's a lot of that many, many
• 12:31
  cronies who make a fortune out of getting access to this Fiat
• 12:35
  money first, and they're not going to be very happy with the
• 12:39
  The new shape of the world but they know that these things
• 12:43
  cannot possibly last forever. All Fiat currencies, have all
• 12:48
  gone to zero in the end. I think the average life of
• 12:51
  these Fiat currencies over time has been 16 years, you measure
• 12:55
  them all. So it's very important for them.
• 12:58
  If they want to maintain their positions of any kind to get
• 13:01
  onto the Bitcoin, Network become a on the Bitcoin Network, and
• 13:05
  use the existing infrastructure that they built to start.
• 13:09
  Around Bitcoins but themselves. Otherwise they're going to be
• 13:13
  replaced. It's as simple as that, man.
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  It's beautiful, it's crazy how. And in watching their reflex
• 13:20
  reaction, which is always relying on the Monopoly of
• 13:24
  violence that they have and just just looking to that and
• 13:28
  watching them come to terms with the fact that that usual
• 13:32
  mechanism to keep that moat up doesn't work anymore right and
• 13:38
  get work because everybody's going To be on a peer-to-peer
• 13:41
  basis music. That means people trading
• 13:43
  between each other. And there's not enough police to
• 13:46
  please some more. And also, some of the pretext
• 13:48
  are using for so-called cracking down on bitcoin are absolutely
• 13:53
  absurd saying that it's being used for criminal Enterprises
• 13:56
  were even if it was not all the people on Earth are criminals a
• 14:01
  speculative people we're talking about like 97% of people are
• 14:06
  law-abiding, people don't want any trouble from anybody and
• 14:09
  they don't Deild, I don't murder.
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  They do anything else. So to lump everybody who uses
• 14:14
  Bitcoin or any other tool into that big, that Cesspool tiny
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  little bit is completely ridiculous and it's an over
• 14:22
  reaction. It's an over reaction that shows
• 14:25
  they're scared out of their minds about change and I'm
• 14:28
  afraid that there is nobody, that's going to react to them
• 14:32
  being frightened. Nobody cares if they're
• 14:34
  frightened, they just want to do things better.
• 14:36
  They want more convenience, they don't want their money stolen
• 14:39
  from them, And like this story of this guy who walked through
• 14:42
  the the one country to another with a million dollars.
• 14:45
  This is what they want. They want to be able to move
• 14:48
  from A to B with their money or move their money from A to B
• 14:52
  without any problems. And I know some people who are
• 14:55
  doing some business in the the West Africa and it was very
• 15:00
  difficult for them to move money from A to B because the banking
• 15:04
  systems don't connect, don't talk to each other and so with
• 15:07
  Bitcoin do all that goes away, all that.
• 15:09
  The way the speed at which people will be doing business
• 15:13
  will just go through the ceiling and also bear this in mind, all
• 15:18
  of the e-commerce Giants. In the west will suddenly have
• 15:21
  access to billions of people who literally billions of people who
• 15:26
  will all by their mobile phones. Be able to buy and sell over
• 15:30
  their platforms little thick, for example, Amazon just imagine
• 15:34
  if Amazon had an extra not even 2 billion, 500 million users,
• 15:39
  being able. To buy on Amazon, you'd have to
• 15:41
  be insane to say no to that and also because Bitcoin is a push
• 15:45
  system. Payer fraud is totally
• 15:48
  eliminated by it. So not only do you get access to
• 15:52
  many more people but you get access to a tool that eliminates
• 15:56
  payer fraud and all the costs that you have to eat to do that.
• 16:00
  They're associated with that. So people who are against
• 16:02
  Bitcoin are either ignorant or they have a vested interest in
• 16:07
  keeping people away from Bitcoin.
• 16:09
  They're just plain dumb and there are people who are playing
• 16:12
  dumb in the world and we have to live with them but they're going
• 16:16
  to have to live in our world. Now the Bitcoin mediated world
• 16:20
  because it's nothing they can do to stop it.
• 16:23
  Oh man I'm really gonna enjoy this episode.
• 16:27
  All right all right everybody let's move to the news.
• 16:29
  I have some Marty bent awesome article and we also I have some
• 16:34
  tweets some articles from Beauty on and we're going to ask him to
• 16:36
  elaborate a little bit about that.
• 16:38
  Anyways let's continue. You.
• 16:42
  The Daily News brought to you by B box to bitcoin, only
• 16:46
  additional Hardware wallet, my shift crypto crypto like
• 16:50
  cryptography. It's secure, it's open source
• 16:53
  and it's so easy. Your mom can set it up.
• 16:55
  Self custody is the revolution in the bit box.
• 16:58
  Makes it simple, do not leave your Bitcoin on an exchange
• 17:02
  order. A bit box today.
• 17:05
  All right, everybody, let's check this out.
• 17:06
  This is the software. This is the update that they're
• 17:09
  trying to merge into. Bitcoin core that you've
• 17:11
  probably never heard of L over a period of peer-to-peer El Rey
• 17:15
  support signaling. Let's check it out.
• 17:17
  It's been over a it's been a literally any Curly's sorry Nico
• 17:21
  can read you guys know the drill Earl a thank you Opti.
• 17:24
  It's been a little over three years and exactly 696 issues
• 17:28
  since we have last talked about early in this rag back, in
• 17:31
  September of 2019, we wrote about Peter, will I can't?
• 17:35
  Oh my God, the names. I'm sorry guys, thank you.
• 17:40
  And galeb. No, no Mac.
• 17:42
  Anko, I'm sorry guys. Submitting an official be IP to
• 17:46
  start the process of getting early, merge into the protocol.
• 17:49
  For those of you who may be unaware of what exactly early
• 17:52
  is, it is a change to the transaction relay protocol.
• 17:55
  At the peer-to-peer layer that full nodes used to communicate
• 17:58
  and share data about transactions that have been
• 18:00
  broadcast to the network. The change would bring material
• 18:03
  bandwidth efficiency gains to the peer-to-peer layer which
• 18:06
  will make it easier for more people to run full nodes.
• 18:10
  I That's the signal right there, particularly individuals who are
• 18:13
  living in areas with subpar internet connectivity.
• 18:16
  What you're looking at Freaks is a massive breakthrough and
• 18:20
  distributed network engineering that will enable Bitcoin to
• 18:23
  become a more robust, reliable and private Network more robust
• 18:27
  because it enables more individuals to start to
• 18:29
  participate in network validation by opening up the
• 18:32
  potential Universe of those who have the ability to run a full
• 18:35
  node by lowering the barrier to entry on the internet bandwidth
• 18:38
  side of things more. Liable by increasing the
• 18:41
  connectivity between nodes and more private by making it harder
• 18:45
  for attackers to identify the node from which a transaction
• 18:48
  originated, extremely bullish Beauty on more and more to the
• 18:53
  peer-to-peer. What are your thoughts on the
• 18:55
  early update or potential? Bitcoin Improvement protocol
• 19:00
  being merged into Bitcoin core? But I think it sounds very good
• 19:03
  on the surface, anything like this, which is an improvement,
• 19:06
  in how Bitcoin actually works. Is a good thing things that are
• 19:11
  not good. Things are changes to address
• 19:14
  his to make these these funny addresses for people with their
• 19:18
  legacies. Most of it is, that's not good,
• 19:21
  but this is a very good thing because it expands the
• 19:23
  capabilities of Bitcoin without changing the fundamental nature
• 19:27
  of it. So, I don't think anybody can be
• 19:29
  against this out of the box without just a cursory
• 19:33
  examination. And so it would be a good thing
• 19:36
  that it gets merged because the more people who have access to
• 19:38
  be able to run full notes, Increases the the security of
• 19:43
  the network and it's a good thing.
• 19:46
  Absolutely. So I I want to take advantage of
• 19:48
  the fact that you're here to talk a little bit about the
• 19:52
  recent moves by the state to go after Bitcoin specifically.
• 19:57
  Right. And the example that comes to
• 19:59
  mind was the recent move by the US Treasury to ban open source
• 20:04
  re not band. Sanction, specific open source
• 20:07
  software that has never been done before sanctions.
• 20:10
  Ins have always only been against individuals or
• 20:13
  countries, but for the first time and US history, I believe
• 20:17
  this is what beauty and I a beauty on and I were talking
• 20:20
  about before the show, this is a pre-emptive move to set a
• 20:24
  precedent by the treasury because if they could say, we
• 20:28
  could sanction certain open source software what is bitcoin
• 20:32
  and open-source software, we can sanction.
• 20:35
  Bitcoin now. Is this going to be successful?
• 20:38
  Absolutely not. But they're you.
• 20:40
  Can't let the state isn't going to go gently into that good
• 20:42
  night without putting up a fight Beauty on.
• 20:44
  What are your thoughts on this? Like, you know, when you have
• 20:46
  children, it's bedtime, it's bedtime.
• 20:49
  So you go to bed, so you go with that.
• 20:51
  Mike and sped up, that's all there's to it.
• 20:53
  And let's just put this peak seriously about this.
• 20:57
  As far as I understand the legislature rights legislation
• 21:01
  in the United States, not the treasury not suc or anybody
• 21:06
  else, so they can't write about them.
• 21:09
  Allah for the In the first place and the legislature is
• 21:12
  explicitly. Forbidden from writing laws that
• 21:15
  violate the constitution. That's those are two things.
• 21:19
  And then, again, you can't sanction a piece of software,
• 21:23
  that's completely absurd. It's like sanctioning Hemlock or
• 21:28
  Hell or arsenic in the bottom. We're going to sanction arsenic
• 21:31
  because Arctic is used to poison people.
• 21:34
  It's commits observed on its face.
• 21:35
  So whoever is Whoever has written, this doesn't understand
• 21:39
  how software works. Doesn't understand that software
• 21:42
  developers are protected by the United States, first, the First
• 21:45
  Amendment of the Constitution in the United States.
• 21:48
  And so this is this is settled law.
• 21:50
  So these people are probably very young ignorant and don't
• 21:55
  understand what it is. They're dealing with.
• 21:57
  And we see a lot of this when people try and address the
• 22:00
  so-called problem of Bitcoin, they see that something big is
• 22:04
  happening. These see, it's coming down the
• 22:05
  pike and they want to control, how it's coming down, the pike
• 22:09
  towards them. Like this ridiculous Loomis Bill
• 22:12
  and they just expose their ignorance in the text of the
• 22:16
  law. But with this, it cannot
• 22:19
  possibly be a law. You cannot sanction of protocol.
• 22:22
  You cannot sanction a piece of software.
• 22:24
  You can only sanction people and people write software and
• 22:28
  Americans who write software have rights.
• 22:30
  And those rights can't be taken away by an on legislative body.
• 22:35
  That's just a fact. It will go to court because
• 22:38
  that's the only language if people.
• 22:40
  And and then when it goes to court, it might even go to
• 22:43
  scotus and they'll be struck down and that's the end of it.
• 22:46
  Yeah, just like rip the wars happened in the 1990s.
• 22:51
  They lost basically. And so Clipper chip.
• 22:54
  And also the business was abandoned and these things will
• 22:56
  be abandoned also. And every day they spend wasting
• 23:01
  their time trying to fight Bitcoin, Bitcoin is growing
• 23:04
  stronger, and stronger, and stronger and Bitcoin,
• 23:08
  entrepreneurs are very nimble. They understand what a passport
• 23:12
  is. They understand that the lines
• 23:14
  on a map in the world are actual jurisdictional boundaries
• 23:19
  through which the authority of these states cannot pass and
• 23:22
  they're going to other jurisdictions, just like the
• 23:24
  Chinese miners came to Texas to escape Chinese jurisdiction.
• 23:28
  American entrepreneurs, should the American government make a
• 23:31
  big big fundamental mistake as they have in the past, like with
• 23:34
  internet gambling. They'll just move to not
• 23:36
  jurisdiction and serve everybody from there.
• 23:39
  So these are Jurisdictions will benefit from the ignorance of
• 23:44
  the American literature, or they can back down understand that
• 23:48
  their role is the public servant.
• 23:50
  And servant doesn't mean Master. It means servant serve the
• 23:53
  American people by getting out of their way so that the
• 23:57
  entrepreneurs can build services that serve the whole world and
• 24:01
  their problem. We solved in that way.
• 24:03
  And of course, all these businesses that are started in
• 24:05
  the United States have to pay tax in the United States.
• 24:08
  So just imagine there's a Coin company that serving the entire
• 24:12
  world, by supplying Bitcoin, and it's based in the United States.
• 24:16
  Imagine how much taxes are going to pay that, maybe they're going
• 24:18
  to be raking in trillions of dollars and the other big tech
• 24:22
  companies have in corporations in Ireland, Apple, Amazon, most
• 24:27
  business, why? Because they don't want to pay
• 24:30
  taxes and be over governed by the United States government.
• 24:35
  And during the Trump era, these companies were encouraged to
• 24:38
  repatriate them some of them. That they've been accumulating a
• 24:41
  broad. Look, economics is not a game.
• 24:44
  Economics is real economics is real and entrepreneurs will
• 24:49
  adjust their behavior to make sure they're not being fleeced
• 24:53
  and the American government should understand this.
• 24:55
  But unfortunately, people like Ron Paul are routinely ignored
• 25:01
  because what they're saying is unpalatable to that class of
• 25:05
  people who think that the Masters not the servants.
• 25:08
  And so America keeps making mistakes.
• 25:10
  Over and over and over again and in 2022 in the network world,
• 25:15
  where anybody can run a server anywhere with a press of a
• 25:18
  button, nobody's going to tolerate ignoramuses and other
• 25:23
  nice people interfering in their business.
• 25:26
  They're not going to tolerate it, why should they?
• 25:28
  They shouldn't and because Bitcoin and with the only
• 25:32
  exception of mining which requires a physical presence
• 25:35
  because Bitcoin is also Fair all the time, all the way down, they
• 25:39
  can run their This is from anywhere.
• 25:41
  So, obviously anybody who's a patriotic American wants,
• 25:45
  Bitcoin companies to be incorporated in the United
• 25:48
  States where they're going to be taxed.
• 25:50
  And that's that should be the overriding desire of anybody
• 25:54
  who's a public servant going to serve America.
• 25:58
  Otherwise they're going to go somewhere else.
• 26:00
  So they need to understand that in order to in the case of
• 26:05
  politics ruling actually means obeying ruling actually mean
• 26:10
  He's protecting it doesn't mean getting in the way of people
• 26:13
  hauling people before Congress to testify pointing your finger
• 26:17
  at them. Scolding them.
• 26:19
  That's that's sensible. That's not sensible to actually
• 26:21
  anti-American and we're finding out now that their jurisdictions
• 26:27
  where people are moving to because it's easier to do
• 26:30
  business. And those jurisdictions are not
• 26:32
  the USA, even inside the USA companies, fastidiously avoid
• 26:39
  doing business in York because of that, toxic anti-American,
• 26:44
  absurd, horrific bitlicense. So all those people in New York,
• 26:48
  who should have free access to bitcoin just like every other
• 26:52
  American don't because of one stupid legislature wants stupid
• 26:57
  man who thought he knew better than anybody else.
• 26:59
  And actually wanted to set up a business for himself policing
• 27:02
  the law that he wrote for himself.
• 27:04
  So it's very important that these people understand what
• 27:08
  their job is, what America? Is what the Constitution says
• 27:12
  and the separation of powers and everything else.
• 27:14
  If they just obey the oath that they swore he wouldn't be even
• 27:17
  discussing this but they all think they want to be the boss
• 27:21
  and they're going to be they're going to be shown that.
• 27:25
  They're not the boss and this is very easy to predict.
• 27:28
  If you're old enough to have seen, You know, the last time in
• 27:33
  the last 30 years and a lot of these people in the, in the
• 27:36
  legislature are old enough to have seen this, they just don't
• 27:38
  care. Yeah, it's so fascinating and,
• 27:42
  and again, it's it, the, it kind of goes back to the point that I
• 27:45
  was originally saying, right is their usual mechanism of
• 27:49
  coercion, which is the Monopoly on violence is not effective in
• 27:55
  a Bitcoin World. It doesn't doesn't give the
• 27:57
  return on violence that it once did.
• 27:59
  Right. So that and what's that going to
• 28:01
  do? Eventually that's going to,
• 28:03
  they're going to be forced to change because it doesn't work
• 28:05
  anymore. But anyways, before I get to
• 28:07
  before, before we move on Beauty on, I want to just 1/8.
• 28:11
  I just wanted to read the first passage of your medium article,
• 28:15
  by the way, I agree with you. Let's check it out and it's
• 28:18
  referencing for audio listeners. You're watching simply Bitcoin
• 28:21
  live. We have a guest today is Beauty
• 28:23
  on and the name of the Articles unpacking, the lummis gillibrand
• 28:28
  responsible Financial Innovation Act.
• 28:32
  Beauty on you go on to say the idea that there can be a
• 28:34
  responsible Innovation is absurd on its face if lummis and
• 28:38
  gillibrand were alive during the era of Lake ice delivery by
• 28:42
  horse and cart. They would have found that the
• 28:44
  electric icebox was irresponsible Innovation because
• 28:47
  many men would be put out of work and horses turned into glue
• 28:52
  or me now. And this is something that I've
• 28:54
  actually said many times on the show the people that are tasked
• 28:59
  to regulate Bix, you can't regulate Bitcoin Could
• 29:01
  definitely regulate the on and off ramps.
• 29:03
  Make it difficult for people. The people that are tasked to
• 29:06
  so-called regulate Bitcoin are. Also the people that have the
• 29:09
  most to lose if Bitcoin succeeds talk about misaligned
• 29:15
  incentives. So tell us Beauty on.
• 29:17
  Why you wrote that article? What were your thoughts in that
• 29:20
  article? What angle were you approaching
• 29:22
  it from? If you've seen the draft of it
• 29:27
  looks quite different things, but do you see more of my
• 29:29
  thoughts about it? The question is this?
• 29:31
  Hoot asked them to police speech.
• 29:35
  Who told them? It's their job to police speech.
• 29:38
  That's what I want to know. Where in their oath.
• 29:41
  They say that they have that the, the power to do that, where
• 29:43
  in the constitution does say they have the power to do that.
• 29:46
  How do these people appoint themselves?
• 29:48
  The Masters, over 300 million Americans.
• 29:52
  They're not the Masters, the other servants, and this bill,
• 29:56
  this bill is the ultimate legal strawman where they set up this
• 30:00
  fake thing called. Digital assets, and then build a
• 30:04
  framework around it or something.
• 30:06
  It doesn't even exist and it is an offence.
• 30:09
  It's deeply offensive to anybody is a real American deeply
• 30:13
  offensive and it will. And first of all, it will never
• 30:15
  work and if it's challenged in the Supreme Court, it will be
• 30:20
  struck down. All it's going to do is waste
• 30:23
  millions of dollars in lawyers fees to for Americans to assert
• 30:28
  themselves and assert their rights.
• 30:30
  Now do Do the people who have written this Abomination,
• 30:35
  believe that they're doing the right thing on a maybe they do,
• 30:40
  but they're definitely not doing the right thing to even propose
• 30:43
  this to make everybody terrified.
• 30:44
  This is horrible loss. Coming is highly unethical
• 30:48
  Behavior. It should not even enter into
• 30:50
  their imaginations to author, something like this.
• 30:54
  It's like saying that they want to write a law to stop people
• 30:58
  from authoring a new science. Looks because science fiction is
• 31:03
  frightening for children. So we have to protect the
• 31:05
  children. It's completely absurd.
• 31:08
  And the fact, they've even got this far to be able to draft
• 31:11
  this law shows that there's a big discipline problem in the
• 31:17
  legislators not only in the United States but also in the EU
• 31:21
  where they're trying to do things even more outrageous.
• 31:24
  But in the EU, at least they have an excuse in that, there's
• 31:28
  no written Constitution. Those people have no rights,
• 31:31
  guaranteed We have any kind and so they can make a law saying,
• 31:36
  on hosted wallets, which is no such thing are illegal.
• 31:40
  They've actually tried to propose this, and I don't know
• 31:42
  if it's going to pass, or it's not going to pass, but if they
• 31:45
  do pass it, it will be an absolutely terrible disaster for
• 31:49
  the people of the EU. It will mean that ordinary
• 31:53
  people will not be able to go into an app store, download
• 31:56
  Samurai wallet, Pine wallet, blue wallet, Moon wallet,
• 32:00
  Phoenix, What's Toshi or any of these other good wallets these
• 32:04
  ethical Bitcoin wallets because they don't conform with the EU
• 32:08
  regulations and as you know, all of the app stores are already
• 32:13
  Geo confined. So if you're trying to download
• 32:17
  one of these apps from inside the EU, it just won't turn up in
• 32:20
  your search only unethical, Bitcoin wallets where they are
• 32:25
  non-custodial, will be available and this will be a very, very
• 32:29
  bad thing for people to leave you alone.
• 32:31
  Lucky for them. They can get a passport and
• 32:35
  expatriate or if they're clever they can get a proxy and appear
• 32:39
  to be in the United States or another free free country and
• 32:42
  free jurisdiction, but the principle Remains the Same, they
• 32:44
  have no right to control people's software and if they do
• 32:49
  that, it's going to call. It's not going to stop Bitcoin
• 32:53
  at all software. Piracy is a global phenomenon,
• 32:56
  it's all throughout Europe and there's nothing they've been
• 32:59
  able to do stuff that. So they won't be able to stop
• 33:00
  Bitcoin either. What they will do is they'll
• 33:03
  stop entrepreneurs from incorporating in any EU country
• 33:07
  and they'll all go to United States or someplace else and all
• 33:11
  that money that's flowing throughout the whole Bitcoin
• 33:13
  network will go through that company inside United States
• 33:17
  instead of somewhere else. And I think it was some French
• 33:21
  Minister just today on the Twitter's I saw that they want
• 33:24
  to encourage friends to be the center of the new Economy based
• 33:28
  on bitcoin or quote-unquote cryptocurrencies.
• 33:31
  Has this is the most ridiculous thing I've ever heard.
• 33:35
  It's never ever going to happen because they are philosophically
• 33:39
  a predisposed to stopping the free flow of money ideas and
• 33:44
  everything else in the EU. So it cannot happen.
• 33:47
  The fact that this law is being proposed in the EU.
• 33:51
  And this minister is saying, he wants friends to be the center
• 33:53
  of this new economy shows that the left hand doesn't know what
• 33:56
  the right hand is doing, is the whole thing is dis coordinated,
• 34:00
  and it depends on. Who gets to the legislature
• 34:04
  first at the outcome will be determined.
• 34:07
  And you know if Francis lucky, they'll pass some laws that will
• 34:11
  make using Bitcoin legal acceptable and trouble-free
• 34:15
  although I doubt it and if they're unlucky, the EU will
• 34:18
  pass this on hosted wallet law and then the whole of the EU can
• 34:22
  be just thrown away because it's just not going to happen.
• 34:24
  But all of this stuff that's happening, now is short term,
• 34:28
  short term perturbations Annoyances in the long term.
• 34:34
  And the real question is, how long is that long term in the
• 34:37
  long term? They're not going to be the
• 34:39
  police. Anybody Bitcoin is going to be
• 34:41
  the global money for billions of people and there's nothing they
• 34:45
  can do to stop that and once that happens all of their power
• 34:49
  to create money to police people will all just go away.
• 34:53
  Now, I'm not saying that people should not pay taxes.
• 34:57
  Bible says, you have to pay taxes.
• 34:59
  So the what they cannot Do is create money behind people's
• 35:04
  backs and cheat. People cheating is not right?
• 35:07
  And that's going to stop Bitcoins going to stop that and
• 35:10
  so they're going to be forced to use buddy.
• 35:13
  The legislators and politicians of the future, they're going to
• 35:16
  be forced to use money in the way that people want for police
• 35:21
  fire protection, maybe schools all schools street cleaning,
• 35:26
  keeping the streets, clean that kind of stuff.
• 35:29
  That's the things that they should be.
• 35:31
  Eating on, not on bitcoin and other things like that.
• 35:35
  People trading messages over the internet's.
• 35:38
  The whole structure of the western world is going to change
• 35:41
  and rest of the World, by the way, but they'll probably be
• 35:44
  dragged along Kicking and Screaming.
• 35:46
  So although maybe not in Nigeria's number two country on
• 35:49
  Earth for Bitcoin. So, it's possible that that
• 35:53
  country, which is a very great country, might get a government,
• 35:58
  that sensible turn the switch on for Bitcoin and All the sudden
• 36:03
  some very very good things can happen there.
• 36:05
  I don't know all I know is that the inevitable is coming and
• 36:08
  anybody who tries to stop it is a fool.
• 36:12
  You know, I am 100% agree, it's actually really fascinating
• 36:17
  because in developing countries, it's exactly what you said,
• 36:21
  people have the incentive because they're adopting Bitcoin
• 36:25
  out of necessity versus what you see in the in the west people
• 36:29
  are adopting Bitcoin because they're A chelating on it, they
• 36:32
  think they're going to get wealthy, right?
• 36:34
  So it's a whole different, it's a whole different incentive,
• 36:37
  right? So I'm actually tweeted this out
• 36:39
  the other day. I'm more bullish on developing
• 36:41
  countries adopting Bitcoin. Then I am on developed
• 36:45
  countries. Adopting Bitcoin.
• 36:47
  Venezuelans are going to adopt Bitcoin because they want to put
• 36:49
  food on the table. So argentinians or people in
• 36:51
  Turkey, so are people in Nigeria right versus, you know,
• 36:55
  Americans they got that convenient PayPal, but none of
• 36:58
  them ever look under the hood, right?
• 37:01
  What if PayPal. And this isn't just me
• 37:03
  conspiracy theory anymore. What if PayPal goes out the next
• 37:06
  day? And says, hey, if you say a
• 37:08
  certain thing we're going to find you, which is what they try
• 37:11
  to do before they got caught red-handed, right?
• 37:13
  What that's what, that's what just happened to live.
• 37:15
  Two lives of tick-tock, lives of tick-tock got her counter
• 37:19
  PayPal, can her cows like it? Her account got the account that
• 37:23
  was associated with her terminated because they don't
• 37:27
  like what she's saying and that is something that cannot happen
• 37:31
  in bit. Coin.
• 37:32
  And so we're taking it back into the into the near term.
• 37:35
  This whole cancel culture thing when it comes to the financial
• 37:38
  rails will cease to be a real thing.
• 37:42
  Anybody who wants to have cancel culture, free money can have it
• 37:48
  if they're willing to download an ethical Bitcoin wallet and
• 37:52
  then load it up with Bitcoin. Nobody can stop them from
• 37:55
  receiving money. If they use BTC pay server or
• 37:59
  their website or whatever, the Tools I think BTC pay service
• 38:03
  one of the better ones and nobody can stop you from
• 38:06
  receiving money. So this whole Bitcoin economy
• 38:11
  will change the way people behave.
• 38:14
  Because they'll know, I can say whatever I want because the bank
• 38:17
  can't cut me off, there is no bank, I am the bank, I'm the
• 38:21
  bank now, and so they can do whatever they want.
• 38:24
  They can say whatever they want and nobody can cut them off.
• 38:27
  It's going to make a mean of flowering of free speech.
• 38:31
  You might not like what they say, I'm on time to like it but
• 38:34
  free speech is a good thing and it will flower under a Bitcoin
• 38:38
  economy because the threat of being canceled will be
• 38:41
  eliminated forever. Yep.
• 38:44
  And then people are just going to have to actually debate their
• 38:48
  ideas, right? Just varied or not.
• 38:50
  Oh no, just ignore them. Yeah, so it's it's I'm very
• 38:54
  excited for this future, but I do agree.
• 38:57
  It doesn't scare. Me is not what Bitcoin winning
• 38:59
  at the end. It's the And right now we are in
• 39:02
  the middle of that transition. Anyways, Opti, let's get to the
• 39:05
  culture, bro. Let's do it.
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  Pacific Bitcoin tickets. Opti, what do you have for us
• 39:54
  today, brother? Well, first and foremost, that
• 39:56
  was an amazing, amazing, rip pure signal for everyone
• 40:00
  listening and I'm just going to reference some of your writings
• 40:03
  Beauty on. I have them in the link for in
• 40:06
  the description for people. If you want to Get more, you
• 40:09
  know, more expansive on these topics, but one of my favorite
• 40:12
  sayings, and I'm pretty sure you're the creator of this for
• 40:14
  those seeing on the YouTube, it is Bitcoin is.
• 40:18
  And that is enough. And for you guys on the spaces,
• 40:21
  I'm not going to get into the article.
• 40:22
  I'd much rather just have Beauty on, maybe elaborate on this for
• 40:26
  for people that are new to this concept, or this idea.
• 40:28
  Because I fundamentally believe this Bitcoin is and that is
• 40:33
  enough and and more people need to understand this well, now
• 40:36
  that Bitcoin exists. It's Spreading all over the
• 40:40
  place. I coined this phrase because it
• 40:44
  was obvious to me that this missing part of the internet
• 40:49
  payments, that were secure and push payments.
• 40:53
  Now that it existed, many things would be unlocked, many is like
• 40:56
  a Legend of Zelda Wii. Many things would be unlocked
• 41:00
  because this thing exists, people might not understand how
• 41:04
  exactly it works right now, and it's going to take a long time
• 41:07
  for the Correct, business models to be discovered and then the
• 41:10
  business is built on top of them, but those things are
• 41:13
  inevitable. The missing part was Bitcoin,
• 41:17
  and now it exists. And it cannot be undone.
• 41:21
  It cannot be revoked, it cannot be turned off.
• 41:25
  And once Ordinary People understand the incentives,
• 41:29
  understand the advantages of using Bitcoin, rather than a
• 41:32
  Fiat money system, you're going to wake up one morning and find
• 41:36
  that Bitcoin is spreading Exponentially throughout the
• 41:39
  whole world. It's going to take the same
• 41:42
  thing happened with WhatsApp. WhatsApp is built on many
• 41:46
  decades of different software techniques.
• 41:49
  And the perfect platform in the form of these Android and
• 41:53
  iPhones to create something that people who are interested in pgp
• 41:58
  feel Zimmerman and all this business only dreamed about
• 42:01
  billions of people having their messages and voice voice calls
• 42:06
  protected by public key. Key cryptography.
• 42:09
  How this was done. Nobody could have imagined back
• 42:12
  in 1991 when pgp was first released.
• 42:16
  But today, it's obvious WhatsApp is everywhere.
• 42:20
  Everybody has their stuff protected by public key
• 42:23
  cryptography and this is a very important.
• 42:26
  This is a very important lesson in that.
• 42:27
  Also part of what, the people who were exposed to these ideas.
• 42:34
  Originally imagined is that the Has to be in control of a
• 42:40
  generation of the secret, and private key pairs, but it turns
• 42:45
  out that the benefits of public key cryptography can be
• 42:48
  obtained. Even if the wall developer, or
• 42:51
  the app developer takes care of that for you in the background
• 42:55
  and the reality is ordinary people.
• 42:58
  People just want to get things done or not going to be managing
• 43:01
  their private keys and public keys and disseminating them
• 43:05
  through a key server and let's business to just not going to do
• 43:07
  that. And so the question is how to
• 43:10
  get the advantages of public key, cryptography and in Bitcoin
• 43:14
  analogy is controlling your own keys without exposing the users,
• 43:19
  to all the burdens of Key Management.
• 43:22
  It will be done. It.
• 43:23
  Absolutely will be done. It can be done, has been done
• 43:25
  before with GP, GP GP and WhatsApp.
• 43:30
  And so, that's the, that's the locusts that everything needs to
• 43:33
  be attracted to wear a simple app on your phone.
• 43:38
  There is wall Satoshi, Samurai wallet, Pine wallet, breathe or
• 43:45
  Moon? Moon is a very good one.
• 43:46
  By the way, some one of these wallets will become a billion,
• 43:51
  user wallet. And if that happens, or when
• 43:55
  that happens, then everything is going to change.
• 43:58
  And let's go back to Moon wall, just for a moment.
• 44:01
  That wallet is a very interesting tool when you
• 44:05
  receive other lightning on it, or an on Shane.
• 44:08
  Same transaction, it concatenated, into its added to
• 44:14
  the balance that shown to your shown one balance and all of the
• 44:17
  mechanism underneath of how that balance got incremented, is
• 44:21
  hidden away from you. The wallet takes care of all the
• 44:24
  thinking for you. So you don't have to think.
• 44:28
  And if you want to reach a billion people, that's the kind
• 44:31
  of user experience that has to be put in front of people
• 44:35
  because I'm sorry to report. They're not going to read books.
• 44:38
  I'm going to read the manual, they're not going to manage
• 44:41
  their own keys. They don't care the very very
• 44:43
  busy. So, if we put something in front
• 44:45
  of them, we being the people who run Bitcoin businesses like this
• 44:50
  one here, then the magic can happen, and it can happen in a
• 44:55
  proper way where people have control of their money.
• 44:59
  They're not being surveilled, they're not being asked to show
• 45:02
  their passport, to be able to buy an ice cream with Bitcoin.
• 45:06
  And the good thing is Can happen.
• 45:09
  Very important to think about these things and also have an
• 45:11
  understanding of the history of these tools and how people have
• 45:15
  struggled to get them into the hands of ordinary people once
• 45:19
  this happens and this is going to happen in Bitcoin, I
• 45:21
  guarantee that then the world is going to change and all of the
• 45:26
  side effects that have been predicted by me and other people
• 45:29
  are going to come to pass and we're going to be living in a
• 45:31
  very, very different world to the one that we're living in.
• 45:34
  Now it's going to be a better world.
• 45:35
  It's going to be a more polite world even though, We'll be free
• 45:39
  to say whatever they want. It will be more polite, it will
• 45:42
  be in, this is actually that's not hard to predict because back
• 45:45
  in the 1800's Wilco they didn't have released Beach police that
• 45:48
  they have today and there was a more polite or so things are
• 45:52
  going to be normalized and they're going to be more
• 45:55
  advanced and everybody's going to benefit.
• 45:58
  I think that's a very easy prediction to make.
• 46:01
  The only question is, what country is going to be the
• 46:03
  center of Bitcoin? What country is going to be?
• 46:06
  What jurisdiction is going to be the center of this
• 46:07
  transformation. Nation.
• 46:08
  Now our preferred if it was the United States of America because
• 46:12
  I'm biased but if they decide not to take that crown and put
• 46:17
  on their Collective heads, then some other countries going to do
• 46:20
  it and it's going to be, it could be a very strange country
• 46:23
  for many generations. Caribbean countries were the
• 46:26
  places where people Incorporated to have these shell corporations
• 46:30
  and stuff, and they made a lot of money out of it.
• 46:32
  So, there's no reason why this couldn't happen again with some
• 46:35
  other jurisdiction, or it might even happen in China.
• 46:38
  Like that. And I don't think any Americans
• 46:41
  really want that they want to happen inside America and
• 46:44
  there's no reason why it should not what they need to do, is to
• 46:48
  the legislators need to obey the oath.
• 46:50
  They swore not Embrace crony capitalism and listen to these.
• 46:54
  Crony capitalism capitalist saying that Bitcoin is bad
• 46:57
  because bad for the environment, all that kind of other Gulf.
• 47:01
  And then the people who are running, these companies will
• 47:03
  just make it happen. Silicon Valley is the home of
• 47:07
  the social media and everything. Else, there's no reason why it
• 47:09
  can't be the home of Bitcoin to but that's not going to happen
• 47:12
  because Bitcoin when it behaves like money has a whole bunch of
• 47:16
  different incentives aligned with it.
• 47:19
  And when people have a choice between being surveilled and not
• 47:23
  being surveilled are going to go for not being surveilled,
• 47:25
  specially if it's three millimeters away on their phone.
• 47:28
  So it's very important that the business environment is properly
• 47:33
  ordered, meaning not regulated so that it people are free to
• 47:37
  enter Eight make these new businesses succeed, fail, serve
• 47:42
  people and create the economy that is absolutely inevitable.
• 47:47
  So, that's really, it's as simple as that.
• 47:50
  Anybody wants to get anybody who's old should know this, they
• 47:53
  should know that they should not be misbehaving.
• 47:57
  Absolutely love it. And Beauty on you.
• 48:00
  You are you touched on it a few times and we're very big on
• 48:04
  pushing the idea of self custody being the revolution in Bitcoin
• 48:07
  and you've added something to our lexicon in and the way that
• 48:10
  we pushed self custody and it's naming the names of the ethical
• 48:14
  Bitcoin wallets and having to direct people to the right
• 48:17
  tools. So could maybe you continue to
• 48:20
  elaborate on that signal, for the people out there, so we can
• 48:22
  get those calls of actions. Well, On Twitter, I see people
• 48:29
  talking about Bitcoin Bitcoin is going to do this Bitcoins going
• 48:31
  to do that and of course the right but it can't happen unless
• 48:37
  people using Bitcoin. It can't happen.
• 48:40
  Unless people are able to get Bitcoin in a trivially easy way.
• 48:45
  And so if you're if you really want Bitcoin to succeed and the
• 48:50
  right tools to be the means by which is succeeding, you have to
• 48:54
  name those tools you have. Name them.
• 48:56
  You have to send people to go and get these tools and download
• 49:00
  them onto their phone. So if you have a Twitter account
• 49:03
  with no 5 million followers and you never mentioned the name of
• 49:08
  a single Bitcoin wallet, that's weird in my opinion, that's very
• 49:12
  weird. So I've tried to do a couple of
• 49:17
  forced means which course never work.
• 49:20
  To make people list Bitcoin wallets but the ethical Bitcoin
• 49:26
  wallets and then encourage people whenever they talk about
• 49:31
  Bitcoin to at least in a thread mention a wallet that they want
• 49:36
  other people to use. So that there are millions more
• 49:40
  new installs of all of these wallets so that people have a
• 49:45
  means to use Bitcoin and it's not just something people talk
• 49:48
  about it's useful. Up to a point to talk about all
• 49:52
  the problems that are coming and how they cdc's and blah, blah,
• 49:57
  blah blah. You can do it till the cows come
• 49:59
  home. But if you never mention, while
• 50:02
  Satoshi, Samurai wallet or Moon wallet or any of these Bitcoin
• 50:08
  wallets that are out there that can actually be the total
• 50:10
  solution to this who you helping you're not helping anybody.
• 50:14
  So I wonder sometimes. If these people even use Bitcoin
• 50:17
  themselves, I don't know. But to me, if you're talking
• 50:22
  about any kind of tool as a means to solving a problem and
• 50:27
  you will not show people where that tool is, you've got a
• 50:31
  problem, you've got a problem and you need to stop it and you
• 50:35
  need to think about helping your followers and it to me, it's
• 50:40
  very, very simple. The Bitcoin can't do anything,
• 50:44
  just because you talk about it, people have to use Bitcoin and
• 50:48
  of course, use Bitcoin means. Any use that you put it too.
• 50:53
  If you want to save your money and Bitcoins some future date,
• 50:56
  that's using Bitcoin. If you want to go to the store
• 50:59
  and spend with it, that using Bitcoin, if you want to use it
• 51:02
  for sending money from across across the world, or putting a
• 51:06
  million dollars in your brain to go across the border.
• 51:09
  All of that is using Bitcoin, there's no one way to use
• 51:12
  Bitcoin, but if people don't have the tools don't have, the
• 51:16
  means that that nobody can use it.
• 51:18
  Bitcoin isn't a club Mother is not a social club.
• 51:22
  It's not, it's not a community, it's a tool.
• 51:26
  And if people are not using that tool, that's not good.
• 51:29
  So our mission here as that goes to get as many people using
• 51:33
  Bitcoin as possible, making it trivially easy for people to get
• 51:38
  Bitcoin and by stripping away. All the complexity we've managed
• 51:43
  to do that in a very, very big way and the best Bitcoin wallets
• 51:47
  are going to be the ones that understand what A consumer is on
• 51:52
  the WhatsApp level, meaning that it has to be a simple as what's
• 51:55
  that, perhaps even simpler so that anybody can just download
• 52:00
  it, use it. And then that's it.
• 52:02
  Now, those warts and these people are not bad people,
• 52:05
  they're just not at an advanced stage of development.
• 52:08
  These people who release tools that force you to record the
• 52:13
  mnemonic before, you can even receive any Bitcoin that's
• 52:17
  anti-consumer. So you know, you wonder How many
• 52:20
  people do you want to be using your tool?
• 52:23
  Do you want 100 million people to be using your tool?
• 52:27
  Or do you only want a few thousand to be using it?
• 52:29
  This is, these are the immediate questions that come to mind that
• 52:32
  aren't they? No, they're uncomfortable
• 52:33
  questions but somebody's got to ask them.
• 52:36
  Somebody's got to say, why aren't you talking about Bitcoin
• 52:39
  wallets? Why aren't you pointing people
• 52:41
  to pick what you say? You're a Bitcoin Enthusiast, you
• 52:43
  say your for Bitcoin, you're safe with you for the aims of
• 52:46
  Bitcoin, but won't Point anybody to the tools that will make it
• 52:49
  happen. This Is double think this is a
• 52:52
  misalignment of behavior and desired outcome.
• 52:57
  You've got to be the change that you want to become eligible,
• 53:01
  become the change. You want to be or whatever it
• 53:03
  is. And if you're not promoting
• 53:06
  Bitcoin wallets I put it to you you're not a real big corner and
• 53:11
  on your just larper your larper. You're playing at Bitcoin you
• 53:15
  think it's about Twitter. You think it's about a
• 53:16
  community? It's not and nobody is helped by
• 53:19
  doing this. We all About this poor guy in
• 53:21
  Iran just been arrested, just because you using Bitcoin, you
• 53:25
  know, this is very serious. This is very, very serious and
• 53:28
  in the Bitcoin future where everybody's using Bitcoin things
• 53:32
  like that will happen. Less often a lot less often
• 53:34
  maybe even never. So do you want to get to that
• 53:37
  world quickly or do you want to wait and let more people suffer
• 53:41
  because you can't be bothered to recommend one Bitcoin wallet?
• 53:46
  To me? It's very perplexing.
• 53:47
  But that's just me. Wow.
• 53:51
  I think, I think you said it perfectly the in, this is
• 53:54
  something that we advocate for on the show, right itself.
• 53:56
  Custody is the revolution. That is the, that is the change.
• 54:00
  If you look at on a fun on a very fundamental level human
• 54:04
  beings have always outsourced the responsibility of their
• 54:07
  wealth which is given a few, a tremendous amount of power over
• 54:11
  everybody else. How do you effectuate change?
• 54:14
  You get millions upon Millions upon individual Millions upon
• 54:18
  Millions upon millions of individuals holding Their own
• 54:21
  wealth and they do that with proper key management.
• 54:24
  And I think Beauty on you really hit the nail on the head, it
• 54:28
  falls to developers in some way that they have to hide the
• 54:32
  complexity of that. Key storage of that wallet
• 54:36
  behind a very nice user interface but still provide the
• 54:41
  same benefits of self custody, right?
• 54:43
  And I think that that is really key and I fundamentally agree, I
• 54:47
  think someone who is, you know, an older person.
• 54:50
  Right? Perhaps they just don't have an
• 54:52
  interest in learning how to properly store and manage Keys.
• 54:58
  That's exactly right. And why should they have an
• 54:59
  interest in that they shouldn't? And you know, a lot of these
• 55:02
  companies who are cash strapped, of course, they can't afford to
• 55:07
  bring in a focus group and to test what their interfaces work
• 55:11
  like in front of real people, which is, of course, what Apple
• 55:14
  does it was on the companies they have the money to do that,
• 55:17
  they put their applications and tools in front of real people.
• 55:20
  See how they how they work. So there's a lot of people
• 55:24
  making assumptions about what a user wants, what a typical user
• 55:28
  is and that is a measure of their ambition.
• 55:32
  If you see people putting all the bells and whistles in their
• 55:35
  wallet right in front of the user, or even before user can
• 55:38
  even receive a transaction. You can tell these people are
• 55:41
  not consumer oriented. And of course let's be
• 55:45
  absolutely fully clear tools that do that are useful for the
• 55:50
  people. Who need them and they should be
• 55:51
  developed and they should be released and you should be able
• 55:54
  to use them if you want to use them, I'm talking about a very
• 55:57
  narrow gamut of Bitcoin user which even though it's narrow
• 56:04
  has a billion people in that narrow Corridor.
• 56:08
  And in order to reach those people, you're not going to be
• 56:11
  able to do it with the hardcore technical Bitcoin aspects.
• 56:17
  You're not going to be able to do it at best at most you to
• 56:20
  show. The balance and two buttons,
• 56:23
  send and receive, and that's it. And anything more than that is
• 56:27
  too much. I've spent many years we used to
• 56:30
  have a store in central London. Goulston Street where we were
• 56:34
  testing the Aztec. Oh system.
• 56:36
  And the people coming in, were just ordinary people and they
• 56:41
  have literally no idea how anything works.
• 56:44
  It's very, very difficult. First of all, to describe to
• 56:47
  them, what Bitcoin is why it's good for them.
• 56:50
  And then to get them to download a wallet and then you know,
• 56:54
  onboard them with the voucher, you know, we were talking about
• 56:57
  something super super super incomprehensible to most people.
• 57:01
  That's why anything, anything as technical anything that's scary
• 57:05
  must be completely. Eviscerated must be completely
• 57:07
  erased from the the process. Otherwise, you're not going to
• 57:11
  get them to use it, it's a simple as that.
• 57:14
  And then, once that happens when billions of people using
• 57:16
  Bitcoin, you'll see in newspapers magazines, they'll be
• 57:19
  QR. Everywhere you get tired of
• 57:22
  seeing QR codes everywhere because the Bitcoin
• 57:24
  transformation will have happened but will be better off
• 57:27
  for. And so if that's the price, the
• 57:29
  price of being bored of seeing QR codes is the price of big,
• 57:33
  I'll pay that price. Oh, man, amazing amazing.
• 57:38
  You're absolutely blown my mind today I often, what do you
• 57:41
  think? I think we should continue with
• 57:43
  the culture. This is really good
• 57:44
  conversation. One more, I mean, I have a whole
• 57:46
  bunch over here, but we got let me article right here.
• 57:49
  Let me do the Let me do the God real quick and represent since
• 57:52
  we're not sorry for for Cipher safe since we're not doing the
• 57:56
  the mean review. Anyways guys don't store your
• 57:59
  seed on paper paper is prone to water damage.
• 58:02
  Fire damage, dog attacks don't lose your generational wealth
• 58:06
  because you didn't store your Bitcoins seed on steel and
• 58:10
  there's no better place to do it.
• 58:11
  Then the Cipher wheel or the cipher grid by Cipher, say check
• 58:16
  out the link down below. You definitely don't want to
• 58:19
  lose your Bitcoin. He has he lost it in a fire or
• 58:23
  water that would suck. Anyways Opti take it away.
• 58:26
  Super high signal show today and also I added I had a few more
• 58:30
  articles that I love from Beauty on in the show notes guys.
• 58:33
  So you guys can definitely read them for yourself, but here's
• 58:36
  one that I think people should read and we say this all the
• 58:39
  time that the Bitcoin price doesn't matter.
• 58:42
  There's only one one way of this game going on in its pure
• 58:45
  adoption of Bitcoin. So maybe Beauty on, you can jump
• 58:48
  in and elaborate more and then we can roll.
• 58:50
  This one out. Well the the price of Bitcoin
• 58:53
  doesn't matter at all because if you're going to use Bitcoin for
• 58:57
  sending money from A to B, if you do it quickly enough, the
• 59:01
  price of Bitcoin fluctuating doesn't have any effect on it.
• 59:04
  So in that youth case, if you have a business that's probably
• 59:07
  designed the pick, one price is irrelevant because you're using
• 59:10
  it as a money transport. And that was the thrust of that
• 59:14
  article that it is possible to make a business model that
• 59:19
  eliminates the Price. Fluctuation as a factor in
• 59:23
  anybody's use Bitcoin. So if anybody can look for, I
• 59:27
  can imagine a use case like that that means there must be a lot
• 59:31
  of other ones that I haven't imagined.
• 59:33
  And it just means that people have to spend the time to
• 59:35
  develop them so we can't throw out Bitcoin and say that it's
• 59:39
  useless. No good like that.
• 59:41
  Very silly Jemima woman said under on the stage of the day
• 59:44
  because it's volatile now and if you see in a graph of the
• 59:48
  Bitcoin volatility over time, It's going down like this or
• 59:51
  like 45 degrees So eventually it the volatility is going to get
• 59:55
  to essentially zero and so in order to get there, you've got
• 59:58
  to build these businesses right now.
• 1:00:00
  You got to start building thinking about them testing
• 1:00:02
  them, putting them in front of the public and as Bitcoin
• 1:00:05
  spreads and becomes the money, then one Bitcoin equals one
• 1:00:09
  Bitcoin. And, you know, a fraction of
• 1:00:11
  Bitcoin equal to sneaker today. Tomorrow, and six months from
• 1:00:15
  now and even years from now, that means you can save your
• 1:00:19
  stored wealth in Bitcoin with the sure knowledge that went in
• 1:00:24
  the future, you want to spend it.
• 1:00:26
  It's going to be able to buy the same amount that you stored at
• 1:00:31
  the beginning. And there are a couple of nice
• 1:00:33
  charts out there in the world that showed that a cow the price
• 1:00:37
  of a cow when priced in bitten in a gold at been the same for
• 1:00:43
  thousands of years. So this is going to happen in
• 1:00:48
  Bitcoin where the price of good It's over many, many, many
• 1:00:52
  decades is unchanging, and that's what happens when you
• 1:00:55
  have a sound money in place in the market and of course,
• 1:00:59
  Bitcoin is better than go because it's mathematical and
• 1:01:02
  not chemical. So that's the thrust behind that
• 1:01:06
  article. Don't keep monitoring one about
• 1:01:08
  the price. The price is irrelevant.
• 1:01:11
  That Bitcoin actually is, is what's important that you can go
• 1:01:15
  and download it yourself. Be wrong Bank, quote unquote
• 1:01:19
  with send and receive money back.
• 1:01:20
  Anybody's permission is continuously, that's what
• 1:01:23
  matters and I don't know about anybody else but if you've been
• 1:01:27
  signing up for bank accounts in the last five years, it is the
• 1:01:30
  most onerous invasive, horrible and disgusting process
• 1:01:34
  imaginable with Bitcoin. All that goes away, all you have
• 1:01:39
  to do is download one of the ethical Bitcoin apps or download
• 1:01:43
  Bitcoin core. If you're that hardcore and
• 1:01:46
  instantaneously you can send money from Your laptop, or your
• 1:01:51
  desktop, to anybody, anywhere in the world, in any amount and the
• 1:01:56
  amount of Bitcoin you have is up to you and how you perform in a
• 1:01:59
  Services, you give to others in the free market who could
• 1:02:02
  possibly be against that, it's all good.
• 1:02:06
  All the time. So it's very important not to be
• 1:02:09
  distracted by the naysayers, the computer, illiterates the
• 1:02:15
  frightened rabbits, the people who have be a history Degree and
• 1:02:21
  who work for the financial times?
• 1:02:23
  We don't know anything at all. No honestly this you look these
• 1:02:27
  people up. They all have the wrong degrees
• 1:02:30
  and you notice that they never get articles written by anybody
• 1:02:34
  who's actually in Bitcoin who actually knows they're talking
• 1:02:36
  about to write in the financial times.
• 1:02:39
  Because they know you let these people out into the financial
• 1:02:42
  times writing something that makes irrefutable sense.
• 1:02:45
  It's going to damage the reputation of the flesh tones
• 1:02:48
  because they won't be able to To justify all the bad things
• 1:02:52
  they've been writing for ages. And also since I started this
• 1:02:57
  idea that there is two sides to every story that journalistic
• 1:03:02
  objectivity applies, to math is insane.
• 1:03:07
  Hmm, there is no objectivity in math.
• 1:03:09
  One plus one equals two, it always equals two.
• 1:03:13
  It never equals anything else and Bitcoin is just math.
• 1:03:18
  It's not money. It's man.
• 1:03:20
  On a database. And so there is no objective,
• 1:03:23
  there's no two sides to it. There's no objectivity that you
• 1:03:28
  can apply to it saying it's not math.
• 1:03:30
  It is my, it is exactly what it is all the time, it never
• 1:03:34
  changes. And so if you try and bring this
• 1:03:37
  journalistic objectivity and Nuance of perspective doctrine
• 1:03:41
  of this, the 2022, it doesn't work.
• 1:03:44
  It doesn't work with math because math isn't like that and
• 1:03:47
  that's the problem. When you have these liberal arts
• 1:03:50
  It's journalists trying to write about mathematics they're not
• 1:03:55
  qualified to understand mathematics.
• 1:03:57
  They don't understand the fundamental ideas in mathematics
• 1:04:01
  that it's not about it's not about speculation is not a
• 1:04:04
  science actually not even a science because it's not about
• 1:04:07
  Theory. Math is about facts and Bitcoin
• 1:04:10
  because it's based only on math is about facts and this is
• 1:04:13
  what's been missing in the money creation systems of the world,
• 1:04:18
  since we're not the ghost. And the world went off of the
• 1:04:21
  gold standard that money isn't based on facts anymore but now,
• 1:04:26
  because the Bitcoin money is based on facts, it's based on
• 1:04:30
  facts even more so than the old money that used to be based on
• 1:04:34
  gold because the supply is literally fixed.
• 1:04:38
  There's not going to be. You can't go out and discover
• 1:04:40
  new gold mines and stuff like that.
• 1:04:42
  It's absolutely fixed. It's like a measure on a ruler
• 1:04:46
  and I happen to have a ruler right here, and As you can see
• 1:04:50
  here, their interest on here. These inches on this ruler don't
• 1:04:54
  change over time. They don't they don't get longer
• 1:04:57
  and inches and inch and a centimeter is CM.
• 1:05:01
  And that's what's been brought to bitcoin is an absolutely
• 1:05:05
  fundamental unchangeable measure of value that you can use this
• 1:05:10
  database for and this is the fundamental change that the
• 1:05:14
  Gutenberg Press. That's being brought to
• 1:05:16
  economics. It's never existed before and so
• 1:05:20
  Even if you don't like it. Man doesn't go forward by being
• 1:05:26
  frightened. If this really is a new thing, a
• 1:05:30
  new thing has never been seen before that could cause
• 1:05:33
  beneficial effects for the entire world, including the
• 1:05:38
  effect of eliminating waste of the consumer Society.
• 1:05:41
  This is something that needs to be treated.
• 1:05:43
  Very, very, very carefully. It's not something to be
• 1:05:46
  frightened of. It's like saying you shouldn't
• 1:05:48
  send probes to Mars because the Martians might get angry and
• 1:05:52
  they Come in The Vedas, it's just not the way it works.
• 1:05:57
  So all these people who are frightened of Bitcoin, they need
• 1:06:02
  to be quiet. They need to be quiet and stop
• 1:06:06
  interfering with the activities of free people who are using
• 1:06:09
  this new ruler to measure things that they want to measure.
• 1:06:13
  That's all they're doing. And so, if you don't like it,
• 1:06:16
  well, you're free. Not to like, it's not, you know,
• 1:06:19
  some people don't like strawberries, nobody's gonna
• 1:06:21
  Force to eat them and there we go.
• 1:06:23
  To force you to use Bitcoin, either.
• 1:06:25
  You can't come and tell us not to use me.
• 1:06:28
  That's what you need to understand.
• 1:06:30
  We're not going to stop using Bitcoin because you're
• 1:06:32
  frightened of it. It's not going to happen.
• 1:06:35
  If we fail. If the fundamental premise and
• 1:06:39
  ideas behind Bitcoin are wrong and we fail, well, we are the
• 1:06:43
  ones who fail to know you and you the fuel system will carry
• 1:06:46
  on and good luck to you. And if we're right then we have
• 1:06:49
  changed the world for the better and guess.
• 1:06:53
  You can come along for free that is super, super fascinating and
• 1:06:59
  and like that. It's so true because they're
• 1:07:01
  their usual way of coercing people through accumulating
• 1:07:05
  enough, political willpower, to capture the government, the
• 1:07:09
  Monopoly on violence to force the other side, what to do,
• 1:07:13
  right and Bitcoin world that doesn't work, right?
• 1:07:16
  It's individuals making their own decision, regardless of what
• 1:07:20
  the people in power, have to say on how they They want to save
• 1:07:23
  their wealth and because it's Bitcoin.
• 1:07:26
  They can't censor it. They can't steal it.
• 1:07:29
  And they can't the base it. And I think that's the beauty of
• 1:07:31
  this guy's show ran a little bit long ago.
• 1:07:34
  Let's get to the software the site by bitcoiners, so that we
• 1:07:38
  can plug. Azteca.
• 1:07:40
  All right, let's do it. Websites.
• 1:07:46
  Hi guys, I'm not going to do this.
• 1:07:48
  Justice will give it to Beauty on but this is one of my
• 1:07:50
  favorite sites out here to get as Beauty on.
• 1:07:53
  Oh, he says, ethical Bitcoin. I use this site regularly and I
• 1:07:58
  think it's one of the best. So maybe Beauty on you could
• 1:08:00
  give give a give the people The Rundown that aren't familiar
• 1:08:03
  with us. Tech on will roll this one out
• 1:08:04
  today. Well, as TECO is the pushed up
• 1:08:07
  working on now for about eight years and it's the way to get
• 1:08:12
  Bitcoin when you think about Bitcoin correctly.
• 1:08:15
  So you go into Whether that's tackle Outlet of which there are
• 1:08:19
  200,000 in South Africa and 200,000 in Brazil, believe not
• 1:08:24
  everywhere in Brazil where you can buy a lottery ticket, you
• 1:08:27
  can buy the sticker voucher, you pay some money, and then you get
• 1:08:31
  a 16 digit voucher code or an Ln URL.
• 1:08:34
  And then, when you get the Ln URL, you scan it with one of
• 1:08:37
  your own URL enabled wallets. And then in three seconds, you
• 1:08:41
  get the Bitcoin that's it. There's no signing up is no
• 1:08:46
  ownerís. Invasive nonsense.
• 1:08:48
  It's just like topping up your mobile phone.
• 1:08:49
  Most of the people on Earth don't have phone accounts to
• 1:08:53
  make phone calls. They pay as you go.
• 1:08:56
  And so we superimpose that model on to bitcoin and so we can
• 1:09:01
  reach the same demographic of people who top up their Mobile
• 1:09:06
  phones on an ad hoc basis and there are a lot of people who do
• 1:09:09
  that and so we're finding this is a very popular service.
• 1:09:13
  We have some mega mega announcements that are I can't
• 1:09:17
  talk about right now, but this is going to be the universal way
• 1:09:20
  people buy Bitcoin for billions of people, and that's not a
• 1:09:24
  boast. So if you go onto the website,
• 1:09:29
  you can see that. We have a pay in person option.
• 1:09:33
  And we also have a map showing where all of the outlets are
• 1:09:38
  Canada should be on next week, we hope and that's it.
• 1:09:42
  This is a service. That's true to the nature of
• 1:09:45
  Bitcoin. We don't abuse our users and we
• 1:09:50
  worked very hard on it, and we're going to do it, man.
• 1:09:54
  It's amazing. It's all and for those
• 1:09:56
  listening, and that's Azteca, lazy, t e.com for you guys that
• 1:10:01
  are underwear. That's exactly right.
• 1:10:02
  And I just saw there, they have Ned back, which is a bank in
• 1:10:05
  the, in South Africa. There are three million people
• 1:10:08
  in South Africa, who have nedbank time bank accounts on
• 1:10:11
  them on their mobile phones and they can buy a stack of vouchers
• 1:10:14
  from their nedbank, or time back.
• 1:10:16
  Right inside the mobile phone so we are on a push for education
• 1:10:21
  so that people can understand why Bitcoin is good for them.
• 1:10:24
  Why they should use it. And as this knowledge begins to
• 1:10:28
  spread their going to go to the easiest place to get it and as
• 1:10:32
  take out is the easiest place to get Bitcoin right now.
• 1:10:36
  Absolutely guys. This was one of my favorite
• 1:10:39
  shows. Before we wrap up, I want to
• 1:10:41
  give a special shout out to the people that pay the bills and
• 1:10:44
  make this show happen represent. D.com Opti, show off the shirts
• 1:10:48
  off the back, it's one of my favorite.
• 1:10:50
  It's the guy with the AK he makes Bitcoin merge.
• 1:10:54
  He makes he makes, he's going to make simply Bitcoin merge.
• 1:10:57
  You could take advantage of the promo, code down below the video
• 1:11:00
  description or the podcast description to get a ten percent
• 1:11:03
  off discount, represent LTD.com. I also want to give a very
• 1:11:07
  special shout-out to our awesome guests one, the only, the
• 1:11:11
  legendary Beauty on Beauty on. I really enjoyed this man.
• 1:11:14
  Thank you so much for coming on the show.
• 1:11:16
  Today? Where can people find you on
• 1:11:18
  social media and is there anything that you're working on
• 1:11:21
  as of late that you want to, you want to tell the people about
• 1:11:25
  Well, they can find me on Twitter, which is at Beauty on
• 1:11:30
  underscore, which is where I'm not on Facebook, or any other
• 1:11:34
  things. And what about working on, I'm
• 1:11:38
  working on changing the world. Ha ha ha.
• 1:11:41
  I'm going to do it aren't we? Are we all playing our part to
• 1:11:46
  try to push this beautiful peaceful Revolution forward.
• 1:11:50
  It's been an honor Beauty on really, really enjoyed it.
• 1:11:53
  Thank you so much for coming on the show.
• 1:11:55
  Hopefully You can do it in a couple couple months once again
• 1:11:58
  it's my pleasure. Anytime Nico, thank you guys.
• 1:12:02
  That was another episode of Simply Bitcoin.
• 1:12:05
  You could find us on audio only anchor Spotify.
• 1:12:09
  Apple fountain for audio listeners.
• 1:12:11
  You're listening to Simply Bitcoin live.
• 1:12:14
  We stream this on YouTube, Rumble, Bitcoin TV, also on
• 1:12:18
  Twitter, Twitter spaces, and just regular live stream on
• 1:12:21
  Twitter. If you enjoyed the show, you
• 1:12:23
  know what to do? Smash that like button, hit
• 1:12:25
  that. Subscribe button.
• 1:12:26
  And if you really enjoyed the show you in the number one thing
• 1:12:29
  you could do to push this peaceful Revolution, forward is
• 1:12:33
  share. This video, gets the orange pill
• 1:12:36
  message out there, we love you all and we'll see you tomorrow
• 1:12:40
  for another episode of Simply Bitcoin.