Latest / Simply Bitcoin / The Last Time this Happened Bitcoin Rallied By 620% | EP 1088

Transcript

The Last Time this Happened Bitcoin Rallied By 620% | EP 1088 · Simply Bitcoin

• 0:00
  Yeah, we're going to simply Bitcoin.
• 0:01
  The global liquidity index just broke out for the first time
• 0:05
  since mid 2020. The last time this happened,
• 0:08
  Bitcoin saw an explosive 600% rally.
• 0:13
  Is history repeating itself? Let's see how.
• 0:16
  However, what's really interesting about this cycle was
• 0:19
  that Michael say it was really interesting about that previous
• 0:21
  cycle was that Michael Saylor was the only billionaire who
• 0:24
  enabled his public company to benefit from that liquidity
• 0:28
  injection. This time, there's more than
• 0:30
  fifty public companies who have already put Bitcoin on their
• 0:34
  balance sheet. Are we about to see a FOMO from
• 0:36
  the other 58,000 public companies following the Michael
• 0:40
  Saylor playbook, which has absolutely proven itself to be
• 0:45
  the best performing out of the entire SNP 500 including the big
• 0:51
  tech companies including NVIDIA? People make fun of me because I
• 0:54
  mispronounced that, but Michael Saylor's Bitcoin strategy with
• 0:58
  micro strategy is even outperforming that.
• 1:01
  So are are things going to get even more heated up?
• 1:04
  We'll show we we shall see. Anyways, I'm going to bring up
• 1:07
  my legendary Co host on stage with me today, Optimist.
• 1:11
  Let's get through some of the data anyways, let's pull it up.
• 1:15
  So here is a tweet from Marty party global liquidity index.
• 1:22
  Here we go kids bananas zone. Can you?
• 1:23
  Zoom in Nicole, can you zoom in a.
• 1:25
  Little bit bottom exactly in the Bitcoin bottom peaked exactly at
• 1:31
  the Bitcoin top Look out for 2025.
• 1:35
  You know, one of the things that's really interesting to me,
• 1:38
  Opti is like Satoshi, the way he timed the halvings were around
• 1:44
  the presidential election, and coincidentally, they've been
• 1:48
  around the liquidity, liquidity, the global liquidity cycles.
• 1:53
  Is that a coincidence? Maybe, but I I do find it quite
• 1:57
  interesting. So what happened last time we
• 2:01
  found ourselves in this position?
• 2:02
  Well, we tweeted this out from the simply Bitcoin Twitter
• 2:04
  handle and the last time we had a breakout in the global
• 2:09
  liquidity index that followed that preceded the bull run of
• 2:15
  2021, right? And you can see where, you know,
• 2:18
  it kind of crossed over and we went we went down.
• 2:20
  Ladies and gentlemen, we just had had a crossover for the
• 2:23
  first time couple days ago and could that send Bitcoin up to
• 2:29
  new heights? Now the element that I want to
• 2:32
  introduce into today's episode is there is a different factor.
• 2:37
  And that different factor is that not only are institutions
• 2:41
  here like Black Rock, like Fidelity, but also Michael
• 2:47
  Saylor has proven on the public company level that his strategy
• 2:53
  is outperforming everything else.
• 2:56
  Here's a, here's a graphic that he put up stock performance
• 2:59
  since August 10th, 2020, when MicroStrategy adopted its
• 3:04
  Bitcoin strategy. The SNP is up 71%.
• 3:08
  Bitcoin is up 451%. That's pretty good, but
• 3:12
  MicroStrategy is up 13125%. Just to kind of give you guys
• 3:18
  perspective. That's a 13X in four years.
• 3:21
  That's pretty effing good. Here he is on legacy media
• 3:25
  talking about it. And exactly, here's with, here's
• 3:28
  with I believe this anchor's name is Charles Payne.
• 3:31
  He asks him, he asks Sailor about it.
• 3:33
  Let's let's check out what Sailor has to say.
• 3:36
  MicroStrategy. It's just levering the most
• 3:39
  powerful idea in the world right now.
• 3:41
  Bitcoins, the solution to everybody's problem.
• 3:44
  Investors are worried about regulation taxes towards an
• 3:47
  antitrust. Economists are worried about the
• 3:49
  deficit and the debt. Individuals want to deal with
• 3:52
  inflation and they're worried about opportunity.
• 3:54
  Companies can't compete with mega corps.
• 3:57
  Those who understand Bitcoin buy Bitcoin.
• 3:59
  Those who don't criticize Bitcoin.
• 4:02
  With Bitcoin, individuals can outrun the inflation.
• 4:05
  Investors can be the market, corporations can outgrow the
• 4:08
  competition, and countries can revitalize their economies and
• 4:11
  boost their currencies by tapping into digital capital.
• 4:15
  MicroStrategy. It's just.
• 4:16
  Again, beautifully articulated by Michael Saylor, the proof is
• 4:21
  in the pudding. This is this is the difference
• 4:23
  between last previous cycle going back to the global
• 4:26
  liquidity index. This is the difference between
• 4:29
  20. You know, before 2021, before
• 4:32
  the bull market. This is the difference between
• 4:34
  right here. It it wasn't a proven strategy
• 4:37
  back then. It wasn't it wasn't that Michael
• 4:40
  Saylor had a theory, but it wasn't proven.
• 4:43
  Now it's proven without a shadow of a doubt.
• 4:47
  And we haven't even entered the expective, the expected banana
• 4:52
  zone, the expected parabola. So man, I think this is going to
• 4:56
  be absolute fireworks. I think it's going to be
• 4:58
  undeniable that public companies don't have the luxury but to not
• 5:05
  adopt Bitcoin, even if it's a small percentage, even if it's
• 5:08
  one, two, 3%, because if they don't do it, they're going to be
• 5:13
  at a competitive disadvantage to companies that do adopt A
• 5:18
  Bitcoin strategy. So I'm incredibly bullish for
• 5:21
  this upcoming 2025 bull run, which again coincidentally lines
• 5:26
  up with the global liquidity index.
• 5:29
  Like was that another coincidence by Satoshi?
• 5:32
  Just like the having is the year of the of the presidential
• 5:35
  elections. Like, I don't know.
• 5:37
  But lots of coincidences, man. And there's a lot, there's lots
• 5:41
  of symbolism in Bitcoin itself, like whether it's the the amount
• 5:46
  of blocks that happened between halvings, you know, the amount
• 5:50
  of coins, you know, there's a lot of symbolism.
• 5:54
  You can, you know, you can point out little things in how Bitcoin
• 5:58
  is structured that it points to the infamous six one O 2 order
• 6:02
  that happened in the 1930s. But yeah, man, it seems like the
• 6:06
  planets are aligning, but I think this cycle is tremendously
• 6:10
  different because of the ETFs, because of the institutional
• 6:15
  legitimization of Bitcoin due to Larry Fink and Howard Lupnik
• 6:21
  from Counter Fitzgerald. And of course, the proof is in
• 6:25
  the pudding with Michael Saylor's out performance of
• 6:29
  everything in the SNP. And that sets up 2025 to be an
• 6:34
  explosive year for Bitcoin, which again, coincidentally
• 6:38
  lines up with the global liquidity index.
• 6:40
  So anyways, Opti, what's your take on this, bro?
• 6:44
  I I'm really excited for 2025. I know it's a little bit
• 6:47
  speculative, man, but like, I think it's, it could be quite
• 6:51
  explosive. I think it's going to surprise
• 6:52
  people. What's your take, brother?
• 6:54
  Yeah. I mean, first and foremost, I
• 6:58
  hate being the Bitcoiner that says this time is different
• 7:01
  considering we say that every time a bull run comes, but this
• 7:04
  time really does hold on. Hi Mike.
• 7:07
  I need to get any stand up here, but this time really does feel
• 7:10
  different. Everything that has been built
• 7:13
  out from 2024 this year and of course the the builders out
• 7:18
  there in 2023 building out the products and then and this year
• 7:22
  seeing the institutional adoption, or rather the
• 7:25
  institutional acceptance of Bitcoin.
• 7:27
  We've seen, you know, Naibu Kelly put a country on a Bitcoin
• 7:33
  standard. So there's a lot of data points
• 7:35
  here showing me that I think this time really is different.
• 7:39
  And remember last time, the last bull run, we really didn't get
• 7:43
  the the blow off top that we were all expecting and we kind
• 7:47
  of got dampened on that last bull run.
• 7:49
  So we haven't really seen the the retail FOMO that I think we
• 7:53
  should be seeing this time around.
• 7:55
  When I got into Bitcoin in 2017, that's basically why I got into
• 7:59
  it is because of that retail FOMO blow off top.
• 8:01
  I know everyone's poured at this time around in the cycle
• 8:04
  considering inflation and all the crazy stuff going in the
• 8:07
  world, but it really does feel different.
• 8:10
  And so it is very interesting to see what I've been saying for a
• 8:14
  while. A perfect storm on the horizon.
• 8:15
  I just think I think this 2025 or rather maybe the end of 2024
• 8:20
  Q 4 is going to be a very explosive time in the Bitcoin
• 8:23
  price. Of course, everyone that is a
• 8:25
  Bitcoiner that's a savage Bitcoiners like price is
• 8:28
  irrelevant and is the most boring aspect about Bitcoin.
• 8:31
  But I like to look at the price as a real time metric of
• 8:33
  people's understanding of Bitcoin and fundamental
• 8:36
  Eventually no one really understands Bitcoin, or rather
• 8:39
  most people don't understand Bitcoin.
• 8:42
  And now there's so much education, there's so many data
• 8:44
  points, whether it is Michael Saylor or whether it is the
• 8:47
  BlackRock ETF, the acceptance of institutional capital liking
• 8:51
  Bitcoin. It just goes to show that we are
• 8:54
  entering a new paradigm here in the Bitcoin history.
• 8:58
  It is a new epoch here. And I do think 2025 is going to
• 9:02
  be crazy. Do I think that all of this
• 9:05
  stuff doesn't correlate with the cycles?
• 9:07
  No. I still think it's the cycle
• 9:09
  theory playing out. But it is interesting that
• 9:11
  Satoshi's cycle is kind of a line.
• 9:14
  Hold on, excuse me guys, I'm choking on my saliva over here.
• 9:19
  It is interesting that the four year cycle of Bitcoin does a
• 9:24
  line up perfectly with the elections with this global
• 9:27
  liquidity index. So I know a lot of us bit
• 9:31
  corners think of Bitcoin being a risk off asset, but it still is
• 9:37
  a baby in the grand scheme of things and it's still going to
• 9:40
  align with a lot of things that go on in the world.
• 9:43
  And This is why I think we're going to see crazy amounts of
• 9:47
  pumping in regards to Bitcoin because we all know the money
• 9:49
  printer is going to go on and Bitcoin is the most liquid asset
• 9:53
  in the world. It's the most saleable money in
• 9:55
  the world. And therefore, I think that most
• 9:57
  people are starting to look at Bitcoin as something that they
• 10:00
  need in their portfolios. Obviously, they'll get to the
• 10:03
  point that we get here on simply Bitcoin, where we think it's the
• 10:06
  best money in the world. And obviously the whole world is
• 10:09
  going to gravitate towards the best money in the world.
• 10:11
  But that signal is going to take a little while.
• 10:14
  You know, I've been in Bitcoin for what, 7-8 years now and I
• 10:18
  didn't get here overnight. It took a, it took a lot of, of
• 10:22
  time in the market to understand what's going on.
• 10:25
  And now it's just, it's, you know, it's, it's as ubiquitous
• 10:29
  as the Internet. It's like it's, it's a part of
• 10:31
  everyday life and it's my money. And yeah, like, I'm not going
• 10:37
  back to the Fiat money. And I think most people, once
• 10:39
  they get through that door, will look at it the same way.
• 10:43
  And everyone has the problem. Like Saylor was saying, we all
• 10:46
  have the same problem. Our money is broken.
• 10:48
  The Fiat system is running on fumes, and people are going to
• 10:52
  look for a better alternative. And there is no alternative to
• 10:55
  Bitcoin. It is the best money in the
• 10:57
  world. And This is why I think
• 10:58
  Bitcoin's going to win. And we're entering into to a
• 11:00
  Bitcoin future. I'm 100% agree with you man.
• 11:03
  I think Bitcoin is definitely a one way door.
• 11:06
  I've never met someone in my entire eight years of doing
• 11:09
  this. That said, you know the
• 11:11
  transition to a Bitcoin standard and they're like, yeah, let me
• 11:13
  just go back to Fiat. Fiat's great.
• 11:15
  That's I've never had that conversation before.
• 11:18
  Anyways, guys, you're tuned in to simply Bitcoin live, the most
• 11:20
  watched daily Bitcoin only live show on YouTube, Rumble X Noster
• 11:24
  everywhere. If you guys are enjoying the
• 11:25
  show so far, make sure to smash that like button.
• 11:29
  We appreciate the zaps coming in on Noster.
• 11:32
  And guys, again, stay tuned because we're going to talk
• 11:36
  about some very interesting topics today in regards to the
• 11:39
  separation of money and state. We're going to talk about the
• 11:43
  information narrative trench warfare that's happening.
• 11:46
  We're going to talk about themes that we've talked about on
• 11:48
  Simply Bitcoin for a long time, which is the disintermediation
• 11:51
  of money and the disintermediation of information
• 11:53
  due to the Internet. So you have lots of topics today
• 11:56
  to cover and of course Opti's going to cover some some
• 11:59
  cultural events. Towards the end of the show,
• 12:02
  which is going to. Be quite exciting anyways you
• 12:03
  want to do a quick little tip bit.
• 12:05
  Yeah, Well, TDR, yeah, I mean, yesterday at the end of the
• 12:08
  show, I was kind of a Dumber episode.
• 12:12
  And I remember at the beginning of the show someone basically
• 12:14
  said, like there's a war going on and you guys are talking
• 12:17
  about Bitcoin. And we kind of touched on the
• 12:18
  idea of Fiat is the money of war and This is why we're
• 12:23
  bitcoiners. So I'm I'm going to dive back
• 12:25
  down into that rabbit hole a little bit.
• 12:27
  And I know this is one of Nico's favorite topics as well.
• 12:29
  So yeah, it's, I think there's going to be a less Dumer shell
• 12:33
  than yesterday. But who knows, who knows, we
• 12:35
  might get Dumer. Yeah, I mean defund war buy
• 12:38
  Bitcoin that it's that's what the separation of money and
• 12:40
  state is all about. Anyways, guys, before we jump
• 12:42
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  absolutely free. All right everybody, let's start
• 14:05
  the show. Let's hit the numbers.
• 14:16
  All right everybody, before we talk about the numbers, I do
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  with the stamp seed. All right, everybody, let's get
• 15:38
  to the numbers. At the time of recording, the
• 15:39
  Bitcoin price is $61,940. That's per dollar 1614 block
• 15:46
  height 863,831 Realize monetary inflation. 1.33% market
• 15:52
  capitalization, 1.22 trillion market capital, Bitcoin versus
• 15:58
  gold versus gold market cap 6.57% the total money supply of
• 16:03
  Bitcoin, 19,761,755 BTC, the percentage issued 94.1%.
• 16:12
  In the grand scheme of things, we are just getting started
• 16:15
  anyways, during the numbers segment and during the new
• 16:18
  segment, we're going to focus on 2 themes that we've been talking
• 16:23
  about throughout simply Bitcoin's history.
• 16:25
  And it is the separation of not only money and state, but also
• 16:31
  information and state. So let's get to it.
• 16:35
  Unfortunately, ladies and gentlemen, I'm going to tell you
• 16:37
  something that is a tough pill to swallow for a lot of people.
• 16:40
  Fiat elections matter somewhat specifically if you want to stay
• 16:45
  in your jurisdiction. Bitcoin gives you the not only
• 16:48
  the power to vote with your wallet, but it also gives you
• 16:50
  the power to vote with your feet.
• 16:51
  So you could always just say, you know, F you, I'm moving to
• 16:55
  El Salvador, I'm moving to Freedom Country, I'm moving to a
• 16:58
  more favorable jurisdiction. However, if you do want to stay
• 17:02
  in your jurisdiction, Fiat elections do matter, not for the
• 17:06
  success of the Bitcoin network, but for Bitcoin entrepreneurs
• 17:11
  and Bitcoin businesses to flourish in that specific
• 17:16
  jurisdiction. I want to say that first, second
• 17:19
  part, first part, I'm going to cover second part, but the first
• 17:22
  part I'm going to cover on on today's numbers section, which
• 17:24
  is the disintermediation of information.
• 17:27
  This is where we are today. To put it simply, governments
• 17:30
  were not prepared for social media.
• 17:32
  We played you a clip of John Kerry, which was the former
• 17:37
  Secretary of State earlier on the week.
• 17:39
  We're going to replay that clip for you guys today because it is
• 17:43
  very important in regards to a clip that we're going to play
• 17:46
  you on later. Let's check out what he has to
• 17:49
  do has to say in regards to social media and people doing
• 17:53
  their own research. Let's check it out.
• 17:55
  So tough. Everybody is wrestling with that
• 17:57
  right now. And I think the the dislike of
• 18:02
  and anguish over social media is just growing and growing and
• 18:06
  growing. And it's part of our problem,
• 18:08
  particularly in democracies in terms of building consensus
• 18:12
  around any issue. It's really hard to govern
• 18:14
  today. You can't, you know, there's no
• 18:17
  the referees we used to have to determine what's a fact and what
• 18:20
  isn't a fact that kind of, you know, been eviscerated to a
• 18:22
  certain degree and people go and that people self select where
• 18:27
  they go for their news or for their information.
• 18:29
  And then you just get into a vicious cycle.
• 18:31
  So it's really, really hard, much harder to build consensus
• 18:34
  today than at any time in the 4550 years I've been involved in
• 18:37
  this. And and you know, there's a lot
• 18:39
  of discussion now about how you curb those entities in order to
• 18:44
  guarantee that you're going to have, you know, some
• 18:46
  accountability on facts, etcetera.
• 18:48
  But look, if people go to only one source and the source they
• 18:50
  go to is sick and, you know, has an agenda and they're putting
• 18:55
  out disinformation, our First Amendment stands as a major
• 18:59
  block to the ability to be able to just, you know, hammer it out
• 19:02
  of existence. So what you need, what we need
• 19:04
  is to is to win the ground, win the right to govern by hopefully
• 19:09
  having, you know, winning enough votes that you're free to be
• 19:12
  able to, to implement change. So let me translate this to you,
• 19:16
  right? Because we can't Co-op social
• 19:19
  media, right? Because remember he said that
• 19:22
  this has never happened before in the 50 years that he has been
• 19:25
  doing this. What what used to happen was
• 19:28
  that there was literally a handful of legacy media outlets,
• 19:32
  whether that was TV networks or, you know, these newspapers.
• 19:37
  And it was very easy to Co-op the narrative to control the
• 19:41
  narrative, right? The problem with social media is
• 19:44
  now you have mass scale peer-to-peer communications, and
• 19:48
  now people can build their own platforms without going through
• 19:51
  the gatekeepers of information. And towards the end, what he
• 19:55
  basically said was if we win this election, you know, we will
• 19:59
  have the ability to essentially go after the First Amendment and
• 20:03
  we will be able to go after certain social media platforms.
• 20:08
  The one that they're the one that is the most pain in the ass
• 20:11
  is of course, X. Since Elon Musk took it over,
• 20:15
  he's been more pro free speech and that has resulted from many
• 20:19
  judicial attacks. The latest 1 coming out of
• 20:23
  Brazil where they just banned the platform outright.
• 20:26
  In Venezuela they banned it outright as well.
• 20:30
  Free speech apparently for certain governments is a problem
• 20:34
  to the point that even the former Secretary of State of the
• 20:38
  United States, basically caught in 4K, is saying that the First
• 20:43
  Amendment is a problem. So the First Amendment in the
• 20:47
  Constitution is a problem to John Kerry that that's a very,
• 20:51
  very slippery slope. But we have to remember that
• 20:54
  this isn't just happening in the United States.
• 20:56
  This is happening worldwide. It's happening in Europe, it's
• 20:59
  happening in Australia and Australia they proposed a
• 21:03
  misinformation bill. And it goes on to say
• 21:06
  Australia's Communication Legislative Amendment Bill 2024
• 21:10
  continues to ignite heated debate, with critics arguing
• 21:13
  that the bill risks stifling free speech.
• 21:16
  The proposed bill, which targets misinformation related to
• 21:19
  elections, public health and critical infrastructure,
• 21:22
  requires tech companies to establish codes of contact.
• 21:25
  That that is what John Kerry is referring to.
• 21:28
  The problem, ladies and gentlemen, that I'm going to
• 21:30
  pass on to you guys is who gets to determine what is
• 21:34
  misinformation and what is information.
• 21:37
  That's the problem because as we've seen over the last five
• 21:42
  years, governments have abused this word of misinformation to
• 21:47
  censor information that turned out to be true.
• 21:51
  Because we are a Bitcoin show, we're not going to talk about a
• 21:54
  lot of the other rhetoric, but I'm going to remind you guys of
• 21:58
  the fact that they were talking about, they were denying that
• 22:02
  inflation was going to happen for like a year or two years
• 22:06
  while Bitcoiners were screaming about it on Twitter.
• 22:11
  They called the psychopaths, they said, but we're, and Fast
• 22:15
  forward two years later, they said, oh, we got it wrong.
• 22:18
  We're sorry. So again, it's a very slippery
• 22:23
  slope when the government is the only one who is able to get to
• 22:28
  decide what is the truth and what is not the truth.
• 22:32
  Which is why the 1st Amendment was established in the 1st
• 22:35
  place, because the founding fathers realized this and they
• 22:40
  knew this from very early on, which is why it's set up the way
• 22:43
  it was. Now, why am I bringing this up?
• 22:45
  Why did I play you the Carry video?
• 22:47
  Well, I'm going to bring it to yesterday night's debate, the
• 22:51
  vice presidential debate between Tim Walz, which is a Democratic
• 22:55
  candidate, and JD Vance, which is the Republican candidate.
• 22:58
  Now, here is Russell Brand. Russell Brand made an appearance
• 23:01
  at the Bitcoin conference, and I think he brings up a really good
• 23:05
  point. The threat to democracy is
• 23:07
  censorship. And I completely agree.
• 23:10
  But for people like John Kerry, for people that believe that
• 23:14
  essentially they know what's best for you, even if it's not
• 23:19
  the truth, they are the ultimate deciders on what is true and
• 23:24
  what is not true. They don't see censorship the
• 23:27
  way that we see censorship. They don't see truth the way
• 23:31
  that we see truth. They see truth as a way of being
• 23:35
  able to control the narrative, the policy.
• 23:38
  And unfortunately, when you have free speech platforms like
• 23:42
  Rumble, protocols like Noster and Twitter, it becomes very
• 23:48
  difficult for them to sell the public on certain narratives.
• 23:52
  And the reason that this is so important and we talk about this
• 23:55
  during a Bitcoin show is because, ladies and gentlemen,
• 23:58
  I'm telling you their weak point, the point that they're
• 24:02
  not going to be able to defend is very simple.
• 24:06
  Why should money have to steal from me in order to function?
• 24:11
  Why am I being forced to use the money that is designed to lose
• 24:15
  purchasing power? And now that Bitcoin exists and
• 24:20
  because of its decentralization, they can't make it go away,
• 24:24
  They're going to have to compete with it.
• 24:26
  And I'm telling you, they're never going to be able to
• 24:29
  compete with a censorship resistant, deflationary money.
• 24:34
  So their only hopes is to be able to control the narrative.
• 24:39
  And by the way, I'm not the first person to recognize this.
• 24:44
  I've, I referenced this article so many times.
• 24:47
  It was written by the president of El Salvador that just made a
• 24:50
  historic speech at the United Nations.
• 24:53
  And just to kind of give you an idea of how important
• 24:56
  controlling the narrative is, this is an article that he wrote
• 25:00
  after he made Bitcoin legal tender in El Salvador, and I'll
• 25:04
  read you some of it. He said the most vocal
• 25:06
  detractors, the ones who are afraid and pressuring us to
• 25:09
  reverse our decision, are the world's most powerful elites and
• 25:13
  the people who work for or benefit from them.
• 25:16
  And they're willing to fight, lie, smear, destroy, censor,
• 25:20
  confiscate, print and do whatever it takes to maintain
• 25:24
  and increase their control over the truth.
• 25:27
  And, and everything and everyone.
• 25:29
  So that's what it fundamentally boils down to.
• 25:32
  The Internet has disintermediated information and
• 25:36
  governments who have used have been used to operating with a
• 25:39
  total monopoly are not accustomed to that, right?
• 25:43
  It becomes kind of like this forcing function.
• 25:45
  Anyways, I want to play you guys a clip from yesterday's debate
• 25:48
  because I think it's incredibly important, especially if you
• 25:52
  care about democracy. I believe that we actually do
• 25:54
  have a threat to democracy in this country.
• 25:56
  But unfortunately, it's not the threat to democracy that Kamala
• 25:59
  Harris and Tim Waltz want to talk about.
• 26:02
  It is the threat of censorship. It's Americans casting aside
• 26:06
  lifelong friendships because of disagreements over politics.
• 26:10
  It's big technology companies silencing their fellow citizens.
• 26:13
  And it's Kamala Harris saying that rather than debate and
• 26:16
  persuade her fellow Americans, she'd like to censor people who
• 26:19
  engage in misinformation. I think that is a much bigger
• 26:22
  threat to democracy. Than anything that we've seen in
• 26:24
  this country in the last four years, in the last 40 years now,
• 26:28
  I'm really proud, especially given that I was raised by two
• 26:31
  lifelong blue collar Democrats to have the endorsement of Bobby
• 26:35
  Kennedy Junior and Tulsi Gabbard, lifelong leaders in the
• 26:38
  Democratic. Coalition.
• 26:39
  And of course they don't agree with me and Donald Trump on
• 26:41
  every issue. We don't have to agree on every
• 26:44
  issue, but we're united behind a basic American First Amendment
• 26:47
  principle that we ought to debate our differences.
• 26:50
  We ought to argue about them. We ought to try to persuade our
• 26:52
  fellow Americans. Kamala Harris is engaged in
• 26:55
  censorship at an industrial scale.
• 26:58
  She did it during COVID. She's done it over a number of
• 27:01
  other issues. And that, to me, is a much
• 27:03
  bigger threat to democracy than what Donald Trump said when he
• 27:08
  said the protesters should peacefully protest on January
• 27:10
  the 6th. So I'm going to leave it at
• 27:13
  there, ladies and gentlemen, and just play you guys a clip of, of
• 27:16
  course, Tim Walz talking about this.
• 27:18
  Here we go. I think we need to push back on
• 27:20
  this. There's there's no guaranteed of
• 27:21
  free speech on misinformation or or hate speech and especially
• 27:25
  around our democracy. I think we need to push back on
• 27:28
  this. There's there's no guaranteed of
• 27:29
  free speech on misinformation or or hate speech, and especially
• 27:33
  around our. There is a guarantee, and that
• 27:36
  guarantee is like, as as you know, as as open as it could be.
• 27:45
  Congress shall make no law respecting an establishment of
• 27:49
  religion or prohibiting the free exercise thereof, or abridging
• 27:55
  the freedom of speech or of the press or of the right of people
• 27:59
  peacefully to assemble and to petition the government for a
• 28:03
  redress of grievances. It I mean, it's not open to
• 28:07
  interpretation. Like it is clear as day and you
• 28:11
  know, unfortunately, you know, we are sliding to a certain
• 28:16
  direction and I'm telling you why that is guys.
• 28:19
  Like the reason is simple. They used to be able to control
• 28:24
  the narrative in mass scale. They used to be able to control
• 28:30
  the legacy media outlets in a way you could still make the
• 28:32
  case they still do. They used to be able to control
• 28:36
  the newspapers in an, in an argument.
• 28:38
  You can say that they still do. Social media came along, the
• 28:41
  Internet came along and it changed the dynamics of
• 28:44
  everything. And they're scrambling.
• 28:47
  They don't say, OK, now we just have to talk about these things.
• 28:50
  No, no, no. They would rather censor that
• 28:53
  information out of existence. Anyways.
• 28:55
  Opti, what is what are your thoughts on this?
• 28:57
  I think this is really important, man.
• 28:59
  Because if they're not going to be OK with us speaking freely,
• 29:03
  what makes you think they're going to be OK with us
• 29:05
  transacting freely? Yeah.
• 29:09
  And that that's usually the conversation that we have here.
• 29:12
  Obviously a lot of people when we go down these rabbit holes of
• 29:16
  misinformation or disinformation or freedom of speech, we always
• 29:20
  get the same question of like, what does this have to do with
• 29:22
  Bitcoin? And it's like you just said,
• 29:25
  it's been, it's been shown in court that money facilitates
• 29:28
  speech. We would argue that Bitcoin is
• 29:30
  just code. It's literally just words and
• 29:33
  ones and zeros. It's speech.
• 29:35
  It's very clearly speech. And thus it would fall under the
• 29:38
  1st amendment, at least in the US.
• 29:40
  Obviously other jurisdictions don't have the Constitution like
• 29:43
  us here. But I, you know, as a, as a, as
• 29:47
  an American and an American centric thinker over here,
• 29:50
  everything flows downhill from America here.
• 29:52
  And everyone, I think personally, I, this is obviously
• 29:55
  my bias take, would would like to have the same protections
• 29:58
  that we have with the Constitution.
• 30:00
  And thus This is why we think freedom of speech is so
• 30:03
  important because money in very clear terms in Bitcoin is
• 30:06
  speech. Money facilitates speech.
• 30:08
  And if they are fighting so hard for the control of information,
• 30:13
  what do you think? Like we asked the same question.
• 30:15
  What makes you think they're going to have us transact
• 30:18
  freely? Because if money starts flowing
• 30:21
  where people actually want it to go, then things are going to
• 30:24
  fundamentally change. And This is why they're not only
• 30:26
  clamping down on speech, but they're also clamping down on
• 30:29
  our money and our transactions. Hence why we always bring up
• 30:33
  CBDC's which are going to very clearly censor and stop money
• 30:37
  going where it wants to go. You know, money flows where it
• 30:40
  wants to flow. And if we are all corralled into
• 30:44
  a CBDC, not only can it be censored, not only can you be
• 30:47
  debanked, but there's going to be time limits so that money
• 30:50
  won't actually flow where it needs to flow.
• 30:53
  This is why we are free market capitalists.
• 30:55
  But again, we bring it up all the time.
• 30:58
  Remember naive but Kelly's article in the Bitcoin magazine
• 31:02
  do not drink the elites kool-aid.
• 31:03
  And in it he very clearly says that the main tool that the
• 31:07
  powers that be have is the manipulation or rather the
• 31:10
  manufactured consent of narrative.
• 31:13
  And we've all seen the different clips and and the colleges of
• 31:20
  the corporate press saying the same thing.
• 31:22
  It's almost like they are getting the same narrative and
• 31:25
  the same text and the same script.
• 31:26
  And then they all go out and parade it like this is, you
• 31:29
  know, people coming to the same conclusion when in reality, it's
• 31:33
  top down control of the narrative.
• 31:34
  And this is how things work. They have to manufacture
• 31:36
  consent. And remember, again, I bring
• 31:39
  this up all the time, remember what Fiat literally means.
• 31:42
  It means by decree. And so the powers that be have
• 31:46
  to control information. They have to control, quote UN
• 31:49
  quote the truth because the consent of every single one of
• 31:53
  us. So every single one of us
• 31:54
  believing that these institutions have legitimacy is
• 31:57
  what keeps the Fiat system going.
• 31:59
  As long as we believe the lives and the system is going to
• 32:02
  continue to go and remember, literally our money right now is
• 32:06
  pretty much monetize words. We have to believe the
• 32:08
  government. We have to believe in their word
• 32:11
  that their debt is good and remember what it says on the on
• 32:13
  the on dollars. Now, you know, backed by the
• 32:16
  full faith and credit of the Federal Reserve, these are
• 32:19
  Federal Reserve notes. It's literally words.
• 32:20
  Our money is words. It's paper words right now.
• 32:23
  And this is how the system works.
• 32:24
  They have to propagate their quote UN quote truth and I would
• 32:28
  argue their lies, but they have to continue to propagate this so
• 32:32
  that the majority of people believe in this stuff.
• 32:34
  And as long as people believe in this, then it's going to
• 32:37
  continue to go. This is why they're so afraid of
• 32:40
  all of us communicating on social media.
• 32:42
  This is why you're seeing the pushback from the powers that be
• 32:46
  on Elon Musk and him, you know, quote, UN quote, freeing the
• 32:49
  bird. And not only that, there's so
• 32:51
  many different examples. Like Zuck just came out and said
• 32:54
  that he was censoring during 2020.
• 32:56
  And it was interesting in the debate where Tim Walls was like,
• 33:00
  you know, the Harris Biden administration doesn't censor
• 33:02
  anything. I don't own Facebook.
• 33:04
  When the facts point to the complete opposite that the
• 33:07
  Harris Biden administration was telling Zuck to censor
• 33:10
  information. We have the latest thing of
• 33:12
  Gavin Newsom basically trying to stop political AI satire because
• 33:18
  of misinformation. We have the quote of Tim Walls
• 33:21
  saying like misinformation is dangerous and we have to control
• 33:23
  it. What is happening now is the
• 33:25
  narrative is collapsing and people are waking up.
• 33:29
  And with that comes, yes, some kind of social, you know,
• 33:32
  turmoil because we are birthing a new world.
• 33:36
  But with that comes the fact that we can all understand
• 33:39
  what's going on in the world. And yes, part of free speech
• 33:42
  means that the idiots have to speak and that we can all, I'll
• 33:45
  get to the bottom and get to consensus of what's actually
• 33:48
  going on in the world. And with that will come the fact
• 33:51
  that the money will flow where people's thoughts and behaviors
• 33:55
  and ideologies goes. This is why we think money is
• 33:58
  speech. This is why we think it's backed
• 34:00
  by the 1st Amendment. But hey, we know the powers that
• 34:03
  be do not want us to communicate freely because we're going to
• 34:06
  expose their lives, constantly expose their lives.
• 34:08
  Or like community notes on Twitter, they get exposed all
• 34:11
  the time. They are lying to you, very
• 34:14
  bluntly lying to you and. And they're upset and they're
• 34:18
  upset that social media, right a lot gives you the ability to
• 34:22
  speak back. Like that's what it boils down
• 34:25
  to. And I know you guys are thinking
• 34:26
  because we're getting a lot of comments in regards to this, but
• 34:29
  remember guys, this is simply Bitcoin.
• 34:31
  Tomorrow's Bitcoin news today, guys, I'm telling you the
• 34:35
  frontline for the battle of Bitcoin in the United States,
• 34:39
  specifically for the industry, is the battle for free speech.
• 34:44
  And I'm not the only one to think this.
• 34:46
  Ross Stevens of NY DIG wrote a report which we went over for
• 34:50
  you guys called bitcoins protection under the 1st
• 34:54
  Amendment. Why is he doing that?
• 34:56
  Well, he's trying to get ahead. He's trying to set a legal
• 35:00
  precedent because make no mistake, there is an operation
• 35:04
  going on right now called Operation Check .2 Point O,
• 35:07
  which we're going to get into more details during the news
• 35:09
  segment for more updates for you guys.
• 35:12
  That there's a effort by elements of the US government
• 35:17
  which are trying to isolate the industry from the rest of the
• 35:20
  traditional financial system in the hopes that, number one, you
• 35:25
  are funneled towards the ETFs #2 you take, you don't take self
• 35:29
  custody. They came up with terms like an
• 35:32
  unhosted wallets to make it seem like somehow when you take self
• 35:38
  custody that isn't the norm, right?
• 35:40
  It's an unhosted wallet, right? Unhosted wallet was never
• 35:44
  mentioned in the Bitcoin white paper.
• 35:46
  That is, that is an invention from government regulators.
• 35:49
  Anyways, here's the overview of this paper.
• 35:52
  It says in recent years Bitcoin has faced growing resistance
• 35:55
  from the very governmental authorities that Bitcoin
• 35:57
  advocates seek to deprive of their monetary monopolies.
• 36:01
  In taking such steps, regulators do not appear to have considered
• 36:05
  the 1st Amendment implications of targeting Bitcoin.
• 36:08
  They should. This paper argues through
• 36:11
  extensive legal precedent that Bitcoin is speech and is
• 36:14
  therefore protected by the 1st Amendment.
• 36:17
  Any regulators attempting to curtail Bitcoin therefore have
• 36:21
  clear constitutional implications.
• 36:24
  And this, ladies and gentlemen, is why we bring up these videos,
• 36:27
  because these are members of the US government literally
• 36:30
  admitting that the First Amendment is a problem, right?
• 36:33
  So again, if we don't hold the line here, I'm telling you it's
• 36:38
  going to be very, very, very hairy for us from a regulatory
• 36:42
  standpoint 5 years from now for the Bitcoin industry in the
• 36:46
  United States. Anyways, guys, stay tuned.
• 36:49
  We're going to get into more details about Operation Choke .2
• 36:52
  Point O. We just talked about the
• 36:54
  disintermediation of information, and now we're about
• 36:56
  to talk about the disintermediation of money and
• 36:59
  state. Let's check it out.
• 37:00
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  That's up for negotiation messages.
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  US message. Message the simply Bitcoin
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  handle and we'll talk about it anyways.
• 39:45
  One Bitcoin. OK, so update for you guys on
• 39:49
  Operation Choke .2 point O again. 2 themes of today's
• 39:53
  episode, which I want to focus on, guys, very, very important.
• 39:57
  The disintermediation of information and theme #2 the
• 40:00
  disintermediation of money. This is coming.
• 40:03
  This isn't happening yet. We're like in the first innings.
• 40:07
  Of this fight and we're going to give you an update of what is
• 40:10
  happening so far so Nick Carter originally wrote an excellent
• 40:15
  piece called Operation Choke .2 point O in fact it was became so
• 40:20
  popular that it was actually mentioned by senator sorry
• 40:23
  Congressman Warren Davidson in congressional testimony.
• 40:27
  Nick Carter made a very, very good case.
• 40:30
  In fact, the article is extremely long and very
• 40:33
  thorough, making a case that elements of the Biden
• 40:37
  administration, which are now the Harris of potentially the
• 40:39
  Harris administration attempted to destroy crypto friendly
• 40:44
  banks. And they did it for political
• 40:46
  reasons. They didn't do it because those
• 40:49
  banks are going to go under themselves.
• 40:51
  So we're going to read through some of the bullet points.
• 40:53
  Obviously, we don't have enough time to go through the entire
• 40:55
  article. However, I will put it for you
• 40:57
  guys in the chat. Put it right there.
• 41:00
  Bada Bing, bada boom. But let's read through some of
• 41:04
  the key points and also the new information.
• 41:08
  So the new information suggests that the Biden administration
• 41:11
  regulators deliberately killed off crypto friendly Silvergate
• 41:15
  in an attempt to deep. I can't say that on YouTube in
• 41:19
  an attempt to stop the US crypto industry.
• 41:24
  Let's read through some of the bullet points.
• 41:26
  New bankruptcy filings and exclusive interviews with
• 41:29
  confidential sources suggest Silvergate could have survived
• 41:33
  if not for pressure from regulators, which allegedly
• 41:36
  included an informal mandate to cap its crypto deposits at 15%.
• 41:42
  Senator Elizabeth Warren all but accused Silvergate of aiding and
• 41:46
  abetting FTX crimes, creating and quote atmosphere of concern
• 41:51
  around Silvergate that possibly contributed to a run on the
• 41:55
  bank. Sources told us that the FHLB,
• 41:59
  which stands for the Federal Home Loan Banks, refused to
• 42:02
  renew their monthly loan agreement with Silvergate due to
• 42:05
  political pressure from Warren, accelerating the bank's losses.
• 42:09
  Claims of criminal wrongdoing related to Silvergate's
• 42:12
  association with FTX have never been proven, and no criminal
• 42:17
  charges have ever been filed against the bank.
• 42:19
  Silvergate's downfall may have been a primary cause of the 2023
• 42:24
  regional banking crisis, which ultimately took down Signature
• 42:28
  Silicon Valley Bank and First Republic.
• 42:32
  That is damning. That is crazy.
• 42:36
  So essentially, let's break it down real quick.
• 42:38
  Let's simplify it. Elizabeth Warren and members of
• 42:43
  the US government purposely killed, took advantage of a
• 42:47
  crisis which was FTX to get rid of a crypto friendly bank.
• 42:53
  And I know what some of you guys are thinking.
• 42:55
  Maybe you're like, Nico, this is an isolated incident.
• 42:58
  It it like what are you talking about?
• 43:00
  Like this? No, no, no.
• 43:01
  Maybe all of these things, they could potentially be
• 43:04
  coincidences. OK.
• 43:05
  The problem is that there's a pattern here.
• 43:08
  It isn't just Silvergate Bank. Here is a tweet from Tyler
• 43:13
  Winklevi. Tyler Winklevi and his brother
• 43:15
  Cameron Winklevi are the founders of the Gemini Exchange.
• 43:19
  Gemini Exchange is very popular in the United States.
• 43:22
  This is what Tyler Winklevi said today and when he originally
• 43:26
  posted this, I believe it was. I'll get you guys the date in a
• 43:30
  second, but this was about a month ago a month or two or so
• 43:34
  today the Fed confirmed that operation choke .2 point O
• 43:38
  remains in full swing, provided valuable insight into how it
• 43:41
  works and verified that the Harris crypto reset is a scam.
• 43:46
  The Fed revealed that all of this in a in a 13 page
• 43:50
  enforcement action it issued this morning against crypto
• 43:53
  friendly bank customers bank. The punch line of this
• 43:57
  enforcement action is that customers bank must now give the
• 44:00
  Fed 30 days of advance notice prior to entering into any new
• 44:03
  banking relationship with a crypto company.
• 44:06
  Of course, the only way you can understand this is by connecting
• 44:10
  the third paragraph on page one of the order with the last
• 44:13
  paragraph on page 9. So page here's the first page.
• 44:17
  Whereas Bancorp has pursued a business strategy that involves
• 44:21
  offering banking services to digital asset customers and this
• 44:25
  is the notification effective immediately, the organization
• 44:28
  shall provide the Reserve Bank with written notice 30 days
• 44:32
  prior to engaging in any strategic initiative, product or
• 44:36
  service relationship with third parties related to digital
• 44:39
  assets. Given that Customers Bank is one
• 44:42
  of the only few remaining crypto friendly banks remaining in
• 44:45
  America today and again, I want you guys to connect the dots,
• 44:49
  right? So they basically destroyed some
• 44:52
  2 friendly crypto friendly banks and one of the last remaining
• 44:57
  crypto friendly banks. They did this a couple months
• 44:59
  after. Now I guys you can't say this is
• 45:03
  a coincidence at this point. This is an effort by elements of
• 45:08
  the current administration to essentially isolate the industry
• 45:12
  from the traditional financial system.
• 45:15
  I think it scares them to death that Michael Saylor's Bitcoin
• 45:21
  strategy is as successful as it is.
• 45:24
  And I think it scares them to death that people now have to
• 45:28
  use Black Rock's own words and alternative non sovereign
• 45:33
  monetary system. I think that's what it boils
• 45:37
  down to fundamentally. Anyways, getting back to Tyler's
• 45:41
  threat, and given that Customers Bank is one of the only few
• 45:45
  crypto friendly banks remaining in America today, this means
• 45:48
  that the Fed is now a direct gatekeeper.
• 45:51
  Remember that word gatekeeper? I used it as it relates to
• 45:54
  information, right? Gatekeepers have been incredibly
• 45:57
  important for governments to be able to control information and
• 46:02
  money, right? There's only a handful of
• 46:04
  custodians that governments use basically as a third arm
• 46:09
  enforcement, a deputy essentially acting on behalf of
• 46:15
  the government to enforce their laws, right?
• 46:19
  The problem comes when now you have peer-to-peer communications
• 46:25
  and peer-to-peer money. There is no gatekeeper to put
• 46:29
  pressure on and that's essentially what the book The
• 46:33
  Sovereign Individual relates makes the case for when they say
• 46:37
  we are transitioning from the analog age to the information
• 46:42
  age. This is why in The Sovereign
• 46:43
  Individual, they say the government see their citizens as
• 46:47
  tax cattle, but essentially Information Technologies is now
• 46:51
  going to give those tax cattle wings.
• 46:53
  That's why they make the case. This is what it's all about.
• 46:55
  You're witnessing it happening in full time and will be your
• 46:59
  guide through this whole chaotic process.
• 47:01
  Anyways it goes, it continues to say this is not how principles
• 47:05
  based regulation is supposed to work.
• 47:07
  The decision whether to A to bank a company should be
• 47:10
  decentralized across the entire banking industry and made by
• 47:14
  each bank at its own discretion. Now this decision has been
• 47:18
  centralized by the Fed and will be made by the Fed at its sole
• 47:23
  discretion. The choke point has been
• 47:25
  created. What exactly did customers bank
• 47:28
  due to earn this regulatory straitjacket and be forced to
• 47:31
  advocate its own business judgment and decision making to
• 47:34
  the Fed with respect to banking crypto companies?
• 47:37
  That part is entirely unclear. The non allegation allegations
• 47:41
  are so hand WAVY and vague they would make France Kufka blush.
• 47:46
  All we know from the 13 page order is that during the most
• 47:50
  recent examination and inspection, the Fed quote
• 47:53
  identified significant deficiencies.
• 47:56
  Not a single fact or tangible finding.
• 47:59
  However it is provided it is provided to back up this claim.
• 48:03
  The public must take the Fed's word for it.
• 48:06
  Trust us they say. How convenient right?
• 48:10
  Don't trust verify. No, no, no.
• 48:11
  It's like, just trust us, bro. Misinformation.
• 48:15
  No, you're just trust us, bro. We, we know what's best.
• 48:18
  This is not, and I'm going to use their words, this is not how
• 48:21
  a democracy should be run. the Fed is an unelected the, the
• 48:27
  Jerome Powell is not elected. He's appointed.
• 48:31
  He's appointed. He's not democratically elected,
• 48:35
  He's appointed. So who is holding these
• 48:38
  unelected bureaucrats accountable and why should they
• 48:43
  have the power to get to decide what bank should be able to bank
• 48:49
  the digital assets industry and what bank shouldn't be able to
• 48:53
  bank the digital assets industry?
• 48:56
  They're trying to create a choke point that's it's, it's, it's
• 49:00
  clear as day. And all you got to do is you put
• 49:02
  the pieces together. The the first hit job on
• 49:07
  Silvergate, which was successful, those banks went
• 49:10
  down and then now the regulatory hit job on customers Bank, which
• 49:15
  which conveniently happens to be one of the last crypto friendly
• 49:19
  banks in the United States. And then this leads me to one of
• 49:23
  the points that I was making at the beginning of the show.
• 49:27
  And unfortunately, and a lot of Bitcoiners are going to take
• 49:29
  this the wrong way, which is Fiat elections matter.
• 49:34
  Unfortunately, that's the reality of this guy's Fiat
• 49:38
  Elections matter and the 2024 election, whether it's
• 49:43
  information or whether it's the regulatory policy towards the
• 49:48
  industry in the United States, it will have implications for
• 49:52
  the next 4 years. What you're getting from one
• 49:57
  party is pro Bitcoin, anti CBDC policy, and what you're getting
• 50:02
  from the other party is anti Bitcoin and pro CBDC policy.
• 50:07
  And what I believe this fundamentally comes down to is
• 50:11
  they want to create a monopoly for the central bank digital
• 50:15
  currency to flourish because without a monopoly, a central
• 50:20
  bank digital currency will never win in a free market fight with
• 50:26
  Bitcoin. Why?
• 50:28
  A central bank digital currency is always going to be
• 50:31
  inflationary. 2A. Central bank digital currency
• 50:35
  will always be prone to censorship.
• 50:39
  If you compare and contrast that with Bitcoin, Bitcoin is
• 50:42
  censorship resistant and Bitcoin is deflationary.
• 50:47
  So instead of allowing different currencies to compete, they want
• 50:52
  to shut down the competition. They want to create a monopoly.
• 50:56
  And doesn't that sound familiar with the censorship industry?
• 51:00
  It's the same thing. We don't want you to do your
• 51:03
  critical thinking. We don't want you to do your own
• 51:06
  research. We want to get to determine what
• 51:09
  is the truth and what is not the truth.
• 51:11
  And this is what it boils down to.
• 51:14
  These are the two options in front of us, right?
• 51:17
  And especially, you know, me and Opti are first generation
• 51:19
  Americans and we've been sold on what America, you know, the
• 51:24
  dream of America, what America should be, right?
• 51:27
  And I'm telling you, this is not at all what America should be.
• 51:30
  This is not at all fair competition.
• 51:33
  This, these are bureaucrats getting to decide, you know,
• 51:37
  what money should be allowed and what money shouldn't be allowed.
• 51:40
  And I think that is definitely a shame, to say the least.
• 51:44
  Anyways, Opti, what's your take on all this?
• 51:47
  Yeah, well. And.
• 51:50
  I think I got to run out after today.
• 51:52
  I'm not like we've been covering this for a long time.
• 51:54
  And is this surprising? No, we've been covering it.
• 51:58
  We've been trying to give the benefit of the doubt.
• 51:59
  Obviously, we don't want to speculate on people's intentions
• 52:02
  and stuff. And we could only really follow
• 52:04
  the paper trail, I mean. Bro.
• 52:06
  No, I know I'm, I was talking in the past.
• 52:08
  I was talking in the past like, you know, we were trying to give
• 52:10
  the benefit of the doubt, you know, we're not mind readers
• 52:12
  here, but the paper trail that came out all of this year was
• 52:16
  proving to us that there was an active attack on the Bitcoin
• 52:20
  industry. And now at the very end of the
• 52:22
  year, it's all became a fact. As far as you know, anyone that
• 52:25
  is looking is concerned that the powers that be want to stop
• 52:29
  Bitcoin. The choke .2 point O is real.
• 52:32
  I remember in the beginning of the year everyone was saying
• 52:34
  like well not everyone but non bitcoiners were saying and
• 52:37
  people in power are like oh choke .2 point O isn't a real
• 52:39
  thing. Remember, even Gary Genson said
• 52:42
  in that video that oh, I've never even heard about this
• 52:44
  choke point 2.0 thing. And now very clear as day, it's
• 52:47
  been proven that this was an active attack on Bitcoin.
• 52:51
  Obviously we've been saying for a long time that the on and off
• 52:54
  ramps are a very clear attack vector in regards to Bitcoin.
• 52:58
  And this is them trying to stop the adoption of Bitcoin.
• 53:02
  And we say it all the time. You can't ban Bitcoin.
• 53:05
  You can only ban yourself from Bitcoin and Bitcoin has a way of
• 53:08
  exposing people's incentives. And now it's become very clear
• 53:11
  that the powers that be are terrified of Bitcoin because if
• 53:15
  they weren't terrified of Bitcoin, they wouldn't be
• 53:17
  actively trying to shoot Bitcoin in the kneecaps.
• 53:19
  Metaphorically, of course. And here we are at the end of
• 53:22
  the year proving that they've been trying to stop the attack
• 53:26
  on or the adoption of Bitcoin by attacking the on and off ramps
• 53:29
  by basically, you know, unaliving banks out here and
• 53:33
  taking them down and, and look, and trying to make it seem like
• 53:37
  Bitcoin or even, you know, the shit coin industry is risky and
• 53:41
  it's not somewhere you want to put your money.
• 53:43
  And so am I surprised that the Cantillon insiders, those that
• 53:48
  are afraid of competition, those that have a monopoly on the
• 53:51
  banking system are trying to stop Bitcoin adoption.
• 53:55
  It's like, no, this is the reason for Bitcoin in the 1st
• 53:58
  place. Like they should be afraid of
• 54:00
  Bitcoin because Bitcoin does take away their power and and if
• 54:04
  you're being honest with yourself, if you were in their
• 54:06
  position, you'd probably do the same thing.
• 54:07
  But we're not part of the club, hence why we're bitcoiners,
• 54:10
  hence why we want any money that is controlled by the people for
• 54:13
  the people and doesn't have a small cabal of people that
• 54:16
  control it and take senior age off of it.
• 54:18
  This is the whole thing about Bitcoin is like they can't
• 54:21
  control it. Yes, there's attempts to control
• 54:23
  it, whether it's on and off ramps, whether it's KYCAML
• 54:27
  regulations. We know the attack vectors and I
• 54:30
  still think this is early in the then they fight you stage
• 54:33
  because we haven't seen an outright public attack on
• 54:37
  Bitcoin. They haven't set well that we've
• 54:39
  seen the inklings of it, not from officials yet, but saying
• 54:42
  that Bitcoin is a threat to democracy yet.
• 54:44
  We're going to get there soon enough.
• 54:46
  I'm sure Bitcoiners are going to be painted as as actual
• 54:49
  criminals and actual lepers of society, when in reality all we
• 54:53
  want is a money that they can't steal from us and a money that's
• 54:56
  outside of their control. And if you were in their
• 54:59
  position, you probably would paint the opposition as
• 55:03
  criminals as well, because I, I'm not one of these Bitcoiners
• 55:06
  that thinks that, oh, the, the powers that be, the, the, the
• 55:10
  economic elite, the unproductive class, whatever you want to call
• 55:13
  it, they don't understand Bitcoin.
• 55:15
  Now, on one hand, they may not understand Bitcoin like we
• 55:18
  understand Bitcoin on a technical level, but they
• 55:20
  understand the game that's being played and what they have to
• 55:24
  lose if Bitcoin does succeed. Hence why we see examples of
• 55:27
  this and we'll continue to see examples of this.
• 55:30
  So are we surprised now? We've been covering this for a
• 55:32
  long time, but it is very good proof that they want to stop
• 55:38
  Bitcoin adoption because now we have the hard cold facts proving
• 55:42
  that they were trying to stop the adoption of Bitcoin via
• 55:44
  taking out Bitcoin banks. 100% and I'll, I'll, I'll do one last
• 55:49
  thing for you guys, ladies and gentlemen to do the final
• 55:52
  connection, connecting the dots for you guys because we started
• 55:56
  the show, the theme of the show with the disintermediation of
• 55:59
  money and the disintermediation of now, ladies and gentlemen,
• 56:04
  they're one in the same. The battle is one in the same.
• 56:08
  The fight for free speech is the fight for Bitcoin.
• 56:11
  This is why Ross Stevens wrote this paper called bitcoins
• 56:15
  protection under the 1st Amendment.
• 56:17
  And what he's trying to do is he's trying to get ahead on a
• 56:21
  legal level. Because if you're paying
• 56:23
  attention to what is happening in the background, check out
• 56:26
  this latest news. Gensler to rule on SEC license
• 56:31
  requirements for communication protocols SEC Chair Gary Gensler
• 56:36
  expressed intent to rule amendments to Rule 3 B 16 of the
• 56:41
  Exchange Act by November Criticizes overly broad The
• 56:45
  proposed amendments may be abused to require software
• 56:48
  publishers to obtain SEC licenses.
• 56:52
  That's right, They even want to make you get a license to
• 56:56
  communicate, right? You see where this is going and
• 56:59
  you see why the 1st Amendment is so important and you see why
• 57:03
  John Kerry is saying the way the things that he's saying about
• 57:07
  the 1st Amendment, right, you control.
• 57:09
  You control speech. You control people, You control
• 57:12
  speech, you control money. That's what it boils down to.
• 57:16
  All right, everybody, let's get to the culture.
• 57:18
  You have a lot to talk about. Let's check it out.
• 57:19
  Here we go all right everybody, I want to
• 57:33
  tell you guys about our sponsor, the orange pull app stock
• 57:36
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• 57:42
  currently on the orange pull app.
• 57:44
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• 57:48
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• 57:53
  the app. The orange pull app is the
• 57:55
  number one resource for Bitcoin only events.
• 57:58
  It's also a great resource to connect with bitcoiners that are
• 58:01
  near you, has a really clever geographical feature, so it'll
• 58:04
  show you the bitcoiners that are around you and it'll give you
• 58:08
  the ability to send them a message.
• 58:10
  It also has a very clever filtration system, so you'll
• 58:13
  only find fellow bitcoiners on the app.
• 58:15
  It's also one of the best ways to reach me directly.
• 58:19
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• 58:22
  video description or podcast description.
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• 58:30
  All right, I'm going to pass it on to Opti.
• 58:31
  I don't even know what we're going to talk about during the
• 58:33
  culture segment today, but I'm excited, Opti, what you have
• 58:36
  lined up for us. Before I get into that it, it
• 58:39
  looks like we're under a shit coin spam attack right now in
• 58:43
  the chats, in the comments. So at this point, guys, do not
• 58:46
  fall for the scams. It's Bitcoin only.
• 58:48
  This is the way. OK, actually, let's go back
• 58:51
  here. So yesterday, obviously we had
• 58:53
  kind of like a doomer episode. Things got a little spicy and
• 58:58
  and things got a little crazy and of course we things are
• 59:02
  happening in the world right now.
• 59:03
  That's as bitcoiners we fundamentally disagree with.
• 59:06
  I think bitcoiners are very much anti war and we are pro peace.
• 59:11
  And yesterday's show got got a little do me and there was a
• 59:14
  comment that basically said something on the lines of oh,
• 59:18
  there's a war happening and these idiots are talking about
• 59:20
  Bitcoin. And we kind of touched on it
• 59:23
  yesterday, but it's a very tried and true meme in in the in the
• 59:28
  Bitcoin world where Fiat is the money of endless wars and
• 59:31
  Bitcoin is the money of peace. Bitcoin is the money of of, of
• 59:34
  the people. And Bitcoin is a money about
• 59:38
  cooperation and about entering into a better world, one where
• 59:42
  we're not forced to use a money that steals from US.
• 59:45
  Ones where we're not coerced to use a money that steals from US.
• 59:49
  One that isn't endlessly printed to facilitate all of these
• 59:53
  endless wars in the world. 1A money that is more aligned with
• 59:57
  the behaviors and the ideas and people's perspectives on what
• 1:00:02
  they value in the world, AKA Bitcoin, a free market money,
• 1:00:07
  hard cap, censorship resistant, permissionless, unconfiscatable,
• 1:00:10
  all those good things. And so I kind of want to dive
• 1:00:12
  down into the idea of Bitcoin versus Fiat, of a money of war
• 1:00:18
  versus a money of freedom. And so on that note, shout out
• 1:00:21
  to my boy CJ. Highly recommend you follow him
• 1:00:23
  on Twitter at CJ Constantinos. Probably butchered your name.
• 1:00:28
  Sorry bro. But he is also jumping on this
• 1:00:30
  idea. There's some article here from
• 1:00:32
  Coindesk that said a flare up in the Middle East tensions
• 1:00:35
  appeared to be behind a quick drop in the price of crypto
• 1:00:37
  prices early during the US trading session on Tuesday.
• 1:00:41
  And CJ kind of does what we do here on the show.
• 1:00:43
  You know, the fact that people are selling off Bitcoin because
• 1:00:46
  of a potential war when the only way to pay for war is printing
• 1:00:50
  money into Infinity just shows how much the marketplace doesn't
• 1:00:53
  understand the value proposition of Bitcoin.
• 1:00:56
  Few understand Bitcoin as a commodity and fewer understand
• 1:00:59
  Bitcoin as engineered money. And on that note, there's a lot
• 1:01:03
  of people that flood Bitcoin and say the classic trope of, oh,
• 1:01:07
  Bitcoin is backed by nothing. And you know, like the that's
• 1:01:12
  why you don't need Bitcoin and us Bitcoin is flip it on its
• 1:01:16
  head. And this has been pinned on our
• 1:01:18
  YouTube profile. So if you've seen this, you, you
• 1:01:19
  watch our, our stuff on YouTube. This is the difference between
• 1:01:23
  what we call this mining Bitcoin versus mining the US dollar.
• 1:01:44
  Great, great propaganda there. There you go.
• 1:01:47
  Defund war, join the peaceful revolution, Bitcoin or slavery,
• 1:01:50
  opt out, buy some Bitcoin. This is the way.
• 1:01:54
  This is what we talk about when we talk about orange versus
• 1:01:58
  green, Fiat money versus Bitcoin.
• 1:02:00
  Bitcoin or slavery Fiat. The perpetuation of Fiat money,
• 1:02:04
  money that they can literally print out of thin air, is what
• 1:02:07
  causes these endless wars. And if I'm remembering
• 1:02:10
  correctly, it was Ron Paul that said it is no coincidence that
• 1:02:14
  the last century is the bloodiest century.
• 1:02:16
  The Fiat. Century of central banking?
• 1:02:18
  Is the century the bloodiest century?
• 1:02:20
  There we go. Love it, Nico.
• 1:02:22
  And so you know, going back to my favorite search browser right
• 1:02:25
  now, Perplexity dot AII just did a little search here, and even
• 1:02:29
  though the results weren't conclusive, here you can see how
• 1:02:33
  Fiat money, how the printing of money does back wars.
• 1:02:37
  I'm sure there's endless examples to do this, but I just
• 1:02:39
  searched on Perplexity. How much money has been printed
• 1:02:41
  for war And the answer? The printing of money to finance
• 1:02:44
  wars has been a significant historical practice, though the
• 1:02:48
  exact amounts vary widely depending on the conflict and
• 1:02:51
  time period. Here are some key points about
• 1:02:53
  money printing for war effort. We have World War 2.
• 1:02:56
  World War Two saw a massive increase in money supply across
• 1:02:59
  many countries. In the US, military expenditures
• 1:03:02
  rose dramatically from a few $100 million per year before the
• 1:03:05
  war to 85 billion in 1943 and 91 billion in 1944.
• 1:03:10
  To finance this, the Federal Reserve worked closely with the
• 1:03:13
  Treasury to issue war bonds and expand the money supply
• 1:03:15
  significantly. And in other major conflicts
• 1:03:18
  during the American Civil War, both the Union and Confederate
• 1:03:21
  sides printed large amount of currency to finance their war
• 1:03:24
  efforts. In World War One, Germany ended
• 1:03:26
  the gold standard and rapidly increase its money supply,
• 1:03:29
  leading to hyperinflation in the early 1920s.
• 1:03:32
  And then in recent times, it brings in the the pandemic
• 1:03:35
  printing so historical tactics. Interestingly, countries have
• 1:03:39
  sometimes attempted to print and distribute counterfeit versions
• 1:03:42
  of enemy currencies as a form of economic war.
• 1:03:45
  During World War 2, Nazi Germany engage in Operation Bernard to
• 1:03:48
  produce counterfeit British pounds.
• 1:03:50
  The UK reportedly printed counterfeit French assignments
• 1:03:53
  during the wars following the French Revolution.
• 1:03:56
  It's important to note that modern monetary systems are far
• 1:03:59
  more complex, with most money existing digitally rather than a
• 1:04:03
  as physical currency. This makes large scale physical
• 1:04:06
  money printing for war financing less relevant in contemporary
• 1:04:09
  conflict. Because they can literally just
• 1:04:11
  digitally change the Ledger. This is why we say Bitcoin
• 1:04:14
  versus slavery. This is why we say that CBDC's
• 1:04:17
  will be very easy to inflate. They literally just change a
• 1:04:20
  digital Ledger over there. And anyways, on that note, not
• 1:04:25
  only is money printed to facilitate endless wars, but
• 1:04:29
  this fact, this stat that came out this year couple months ago
• 1:04:34
  now is just absolutely crazy because not only do we print
• 1:04:38
  money for wars, but now our interest costs on our national
• 1:04:43
  debt in the US surpasses the defense spending and Medicare.
• 1:04:47
  And this is, these probably need to be updated here, but at the
• 1:04:50
  time it was 4500 and $15 billion paying back in interest and 498
• 1:04:56
  billion in National Defense. So now not only are we just
• 1:04:59
  printing money for wars, but the interest on our national debt
• 1:05:03
  surpasses all the money printing wars, which is why we always
• 1:05:07
  tell you guys that there is no escape out of this.
• 1:05:11
  They have to print money and that means you are going to get
• 1:05:14
  poorer. And as I was looking up for the
• 1:05:16
  datas, of course I'm going to come over to the
• 1:05:18
  usdebtclock.org. It's one of my favorite sites.
• 1:05:21
  You can see the national debt is getting closer to $36 trillion.
• 1:05:26
  And Nico brought this up yesterday. the US federal tax
• 1:05:29
  revenues at 4.9 trillion. the US federal spending is at 6.9
• 1:05:33
  trillion. But you can see here, you know,
• 1:05:36
  the defense war and it's showing you in real time how much we're
• 1:05:40
  spending on defense, which is what, 100,000 million, 931
• 1:05:45
  billion? And the interest on the debt is
• 1:05:47
  957 billion. Guys, there's no way out of
• 1:05:49
  this. They have to print money.
• 1:05:51
  Fiat, not only is the money of war, but it's also the money
• 1:05:54
  that keeps you poor, destitute, and in the rat race.
• 1:05:57
  And This is why we're Bitcoiners, because Bitcoin is
• 1:06:00
  the alternative. But I hear you guys saying, oh,
• 1:06:03
  but you know, there's geopolitical things going on in
• 1:06:06
  the world and Bitcoin reacted badly to it.
• 1:06:09
  It it dropped. Why isn't Bitcoin pumping?
• 1:06:12
  So shouts out to my boy Ansel Lindner on Twitter.
• 1:06:15
  And he goes, we heard the geopolitical fight against
• 1:06:17
  Bitcoin just last year. And here's a chart.
• 1:06:20
  Bitcoin is a geopolitical hedge because it does its own thing.
• 1:06:25
  And you can see here in October of 2023, claim proof that
• 1:06:29
  Bitcoin is not a political political hedge, geopolitical
• 1:06:31
  hedge. You know, it dropped for a
• 1:06:33
  little bit and ever since then it's been pumping and going up
• 1:06:37
  into the right because it's going up forever.
• 1:06:39
  And again, we're at the same point in time.
• 1:06:42
  It's not that history repeats, it's that it rhymes.
• 1:06:45
  We're hearing people say the same thing, that Bitcoin is not
• 1:06:48
  a geopolitical hedge because it dropped.
• 1:06:50
  I would just argue that Bitcoin is the most liquid asset, liquid
• 1:06:54
  market in the world and it's the only free market left in the
• 1:06:56
  world. And This is why it reacts, how
• 1:06:59
  it reacts. And thus This is why we
• 1:07:01
  constantly tell you guys on the show that it's not left versus
• 1:07:05
  right. It's not Democrat versus
• 1:07:07
  Republic Republican. It is orange versus green.
• 1:07:10
  Nico, I think this is the point where you come in what what's
• 1:07:12
  what do we always say Green is the party of nihilism, pessimism
• 1:07:16
  and war, and Orange, AKA Bitcoin, is the side.
• 1:07:21
  Prosperity, prosperity. Opportunity.
• 1:07:25
  Bitcoin is the real opportunity economy to steal a framing from.
• 1:07:31
  Oh man, yeah, no. Bitcoiners cooperation like
• 1:07:34
  people to transact in the Bitcoin economy, you have to be
• 1:07:39
  incentivized to get rid of your money versus the opposite in the
• 1:07:43
  Fiat world where they will force you with coercion, with guns to
• 1:07:47
  put you into a cage to take away your money and or via inflation
• 1:07:51
  to take away your wealth. This is why we're Bitcoiners, so
• 1:07:54
  that you can save and hold on to the work and the value that you
• 1:07:57
  produce and put into the world and hopefully in the future, if
• 1:08:02
  you are smart, can live a prosperous, prosperous, free and
• 1:08:06
  peaceful life on the Bitcoin standard.
• 1:08:09
  Amen to that. Amen to that, by the way.
• 1:08:10
  Shout out to the almost 2000 live viewers between YouTube and
• 1:08:15
  YouTube and X. And also shout out to the 100 of
• 1:08:18
  you guys watching on Rumble. And of course, shout out to the
• 1:08:21
  Noster crowd, the 15 of you guys watching us on Noster that
• 1:08:25
  zapped us almost 1000 Saturday. Really appreciate it, guys.
• 1:08:29
  But yeah, I mean, look, Fiat is the money of war, Bitcoin is the
• 1:08:33
  money of peace. It's as simple as that.
• 1:08:36
  Let's defund war. Let's defund the war machine.
• 1:08:39
  And to do that, we got to separate money from state.
• 1:08:41
  I think Opti made so many great examples there with different
• 1:08:47
  governments and they always do the same thing when they want to
• 1:08:50
  fund wars. They get off the gold standard,
• 1:08:52
  they get off a sound money standard, they start debasing
• 1:08:55
  the currency at the expense of their citizens.
• 1:08:58
  Like it's as simple as that. If you don't have a money
• 1:09:01
  printer, eventually what happens?
• 1:09:03
  You run out of money to pay for the tanks, You run out of money
• 1:09:06
  to pay for the ammunition. I don't think anyone should have
• 1:09:10
  the God like power of being able to create money for free.
• 1:09:14
  I think that power is immense. That power leads to devastation.
• 1:09:18
  That power leads to travesty. What Bitcoiners are advocating
• 1:09:22
  for, and anyone who's against Bitcoin they're advocating
• 1:09:25
  against this, is that no one should have the ability to
• 1:09:29
  create money for free that another human being has to work
• 1:09:32
  for. That's what Bitcoiners are
• 1:09:34
  advocating for If you want to make more Bitcoin, you have to
• 1:09:38
  get in line and mine it like everybody else.
• 1:09:40
  There's an expense to make more Bitcoin right.
• 1:09:43
  This whole idea that you can just a bureaucratic elite, which
• 1:09:47
  by the way, doesn't even want you to speak freely, wants to
• 1:09:50
  decide, you know, wants to have the ability, the sole monopoly
• 1:09:55
  of the ones to issue money. I think that era is over.
• 1:09:59
  We got Shane Hazel in the chat. Let's let's effing go stop the
• 1:10:03
  war machine buy Bitcoin. It's really a simple what was
• 1:10:06
  that? Buy Bitcoin, Stop the endless
• 1:10:08
  wars. Separate money from state,
• 1:10:10
  separate information from state. This is what the peaceful
• 1:10:14
  revolution is all about. Anyways guys anyway Nico before
• 1:10:17
  before we end it, I do want to say UTX OS comment because this
• 1:10:21
  is great. So you're telling me they are
• 1:10:23
  now paying more to the bankers than the Wemblet to
• 1:10:25
  manufacturer? Interesting we find ourselves in
• 1:10:28
  this position right now. It just goes to show the Fiat
• 1:10:31
  system is absolutely wrecked. And, and again, I'm once again
• 1:10:35
  here as a guy going to reference the Roman Empire.
• 1:10:39
  We've seen this play out for a long time that once they start
• 1:10:42
  clipping money, that's when the empire starts to crumble.
• 1:10:45
  There's countless examples of this throughout history and and
• 1:10:48
  we're just in a new phase of this.
• 1:10:50
  As long as they can print more money, as long as they can
• 1:10:52
  conjure money out of thin air, they are debasing your currency,
• 1:10:56
  they're debasing your wealth. And we are destroying ourselves
• 1:10:59
  by living on the Fiat standard. This is why we are advocates for
• 1:11:03
  you guys transferring some of your wealth into Bitcoin.
• 1:11:06
  As Shane said, you know if you don't like war, buy Bitcoin.
• 1:11:10
  It's literally that simple. Amen to that.
• 1:11:13
  All right, ladies and gentlemen, if you guys enjoyed today's
• 1:11:15
  show, make sure to smash that like button.
• 1:11:17
  Consider subscribing if you feel like we provided you value.
• 1:11:20
  But the number one thing you could do to help push this
• 1:11:22
  peaceful Bitcoin revolution forward is share this content.
• 1:11:25
  In fact, share all Bitcoin content.
• 1:11:27
  Get the message out there. It's not left versus right, it's
• 1:11:30
  not liberal versus conservative. It's party of green versus party
• 1:11:34
  of orange. Obviously we are on team orange
• 1:11:37
  that will make the world a much more peaceful.
• 1:11:40
  Anyways guys, three more likes to 200.
• 1:11:43
  So smash the like button. If you guys are enjoying the
• 1:11:45
  show, there's 2024 of you guys watching live.
• 1:11:50
  We are not going to go off there.
• 1:11:52
  We're at 199. One more person smash the like
• 1:11:56
  button If you're watching us on YouTube 200 likes.
• 1:11:58
  All right everybody, this was simply Bitcoin live for October
• 1:12:01
  2nd, 2024. I'm your host, Nico is my Co
• 1:12:04
  host, Optimus Fields, and we'll see you tomorrow for a brand new
• 1:12:07
  episode of simply Bitcoin live. Stay tuned soon for Ruston
• 1:12:11
  simply Bitcoin Originals, which is dropping later today.
• 1:12:13
  Peace out everybody, take care. Brought to you by
• 1:12:17
  bitcoinwell.com, a Bitcoin only platform on a mission to enable
• 1:12:21
  financial independence.