Latest / Simply Bitcoin / MASSIVE WIN Roadmap to $5 Million Bitcoin | EP 819

Transcript

MASSIVE WIN Roadmap to $5 Million Bitcoin | EP 819 · Simply Bitcoin

• 0:10
  It's all going to zero against Bitcoin.
• 0:13
  It's going up for everyone. You're against Bitcoin.
• 0:23
  You're against freedom. Good morning everybody.
• 0:28
  We are back. It is Thursday, September 7th.
• 0:31
  It's your boy Opti. And what some crazy news
• 0:34
  happened yesterday, and if you've been paying attention to
• 0:37
  the show, we've covered this a while in the back in the past.
• 0:41
  One of the three things that sailors said that will get us to
• 0:43
  the road to $5,000,000 just happened yesterday and man this
• 0:48
  is a big one. Fazb, aka the Financial
• 0:51
  Accounting Standards Board set to introduce new fair value
• 0:55
  accounting rules for Bitcoin and and unfortunately other Kryptos
• 0:58
  as well. But you know they're learning.
• 1:00
  They're they stated that they're learning what's going on.
• 1:03
  I brought all the receipts for you guys, but the TLDR is
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  basically a lot of the disincentives for corporations
• 1:10
  and businesses to hold Bitcoin on their company balance sheet
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  will now be put to the wayside. And this will provide a more
• 1:17
  accurate reflection of the market value of Bitcoin on
• 1:20
  balance sheets and of course give greater transparency to
• 1:23
  financial reporting of companies, the whole Bitcoin.
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  So this is a process that we've been talking about here on the
• 1:30
  show. Basically the great
• 1:32
  refinancialization of the Fiat world with Bitcoin is here to
• 1:35
  stay. It is happening in real time and
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  I think I've said it in the past this this may be one of the most
• 1:41
  bullish bear markets in history. Yes, it's been a tough one in
• 1:46
  regards to the price, but the amount of stuff getting built on
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  the back end, the amount of Bitcoin exposure, the amount of
• 1:53
  attention we've been getting on Bitcoin, I don't think any other
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  bear market can compare to that. And now we are seeing at the
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  financial world, the traditional financial world is starting to
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  embrace Bitcoin because they understand what we understand.
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  Honey Badger don't give a F and they cannot stop this.
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  So they are incentivized to embrace it.
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  And I call. Of course, I can already hear
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  the the bitcoiners out there. It's like, you know who we don't
• 2:19
  need the financial world. But guys, this was inevitable.
• 2:23
  We knew this was gonna happen. So I got you all the receipts.
• 2:27
  We got some videos from Sailor telling us about the three
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  things needed for Bitcoin to hit $5,000,000.
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  We'll cover that on the news. And of course I got a video here
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  you, you know how I like to do. I like to give you guys easy
• 2:38
  examples of what Bitcoin is. And then I'm not alone.
• 2:40
  I got my boy Mike Hobart, who you guys know, you guys are
• 2:44
  familiar with Mike Hobart. And we got a little culture
• 2:47
  segment here because last week we had the debate whether
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  Hoddling is using Bitcoin, whether you should be spending
• 2:54
  your Bitcoin to further spread Bitcoin adoption.
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  Well, everyone's a scammer. You guys know this.
• 3:00
  So Hoddling is using Bitcoin. We're gonna double down on this.
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  And it's one of those things. You know, I saw some of the
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  comments out there saying that we repeat ourselves a lot, but
• 3:08
  what gets repeated gets remembered.
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  Guys, we are here trying to get the Bitcoin fundamentals to the
• 3:13
  normies out there, to the okay to the shit coiners out there on
• 3:18
  YouTube that are still lost in the sauce.
• 3:21
  So hey, forgive me if you've been here for a while, but we're
• 3:24
  going to double down on the idea.
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  First and foremost, we're going to start with what is Bitcoin?
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  Then we're going to start with the big news today of how this
• 3:31
  is going to change corporate adoption on Bitcoin.
• 3:34
  And then third, we're going to double down on the idea of why
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  you should be hoddling some Bitcoin.
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  Anyways, Mike, how you doing? I was telling everyone the
• 3:41
  spaces. We had a great conversation.
• 3:43
  It wasn't necessarily Bitcoin related, but it got my mind
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  going. It got me ranching.
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  So how you doing this morning? Good to have you, dude.
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  Dude, it's I I have to disagree. I think the the conversation we
• 3:55
  were having actually does relate back to Bitcoin, specifically
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  bitcoiners, and like the kind of cultural revolution that's
• 4:01
  happening alongside the energy and monetary revolution.
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  So. Yeah, did you know You know,
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  I'm. I'm good to get your your your
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  mind juices flowing and everything exactly as I always
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  said. You know you were giving me crap
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  on I forget when it was was Tuesday maybe about Zach being
• 4:19
  my favorite writer. Well, you know, I love your
• 4:21
  writing as well because you have a way of getting my thoughts out
• 4:28
  on paper because I'm just like, intuitively regarded when it
• 4:31
  comes to that sense, I'm like, OK, here's the answer, here we
• 4:33
  go. And you're like, no, let me, let
• 4:34
  me expand on this unwritten form.
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  And so you have a way of of saying what I can't write, I
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  guess, or writing what I can only say I don't know anyway.
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  Anyway, that's not the hero there.
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  All right. All right, guys, let's get into
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  the show because we do have a lot to talk about today.
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  The Bitcoin numbers. Is your Bitcoin and cold storage
• 4:57
  really secure? Is your seed phrase really
• 5:00
  secure? Stamp seeds?
• 5:02
  Do it yourself. Kit has everything you need to
• 5:05
  hammer your seed words into commercial grade titanium plates
• 5:09
  instead of just writing them on paper.
• 5:12
  Don't store your generational wealth on paper.
• 5:15
  Papers prone to water damage. Fire damage.
• 5:18
  You want to put your generational wealth on one of
• 5:20
  the strongest metals on planet earth, Titanium.
• 5:23
  Your words are actually stamped into this metal plate with this
• 5:26
  hammer and these letter stamps. And once your words are in, they
• 5:30
  aren't going anywhere. No risk of the plate breaking
• 5:33
  apart and pieces falling everywhere.
• 5:35
  Titanium stamp seeds will survive nearly triple the heat
• 5:39
  produced by a house fire. They're also crushproof,
• 5:41
  waterproof, non corrosive, and time proof.
• 5:44
  All things that paper is. Not allowing you to huddle your
• 5:46
  Bitcoin with Peace of Mind for the long haul.
• 5:50
  Stamp your seed on stamp seed. Yeah, you guys are getting crazy
• 5:55
  in the chatter anyways. Anyways, scan the QR code at the
• 5:59
  bottom of the screen and get yourself a titanium storage kit.
• 6:02
  Guys, do not leave your seed phrase in your sock drawer on a
• 6:07
  piece of paper. Make sure it is able to
• 6:09
  withstand fires and disasters because this is the only way
• 6:14
  you're gonna make it through the great re sat of the world.
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  Anyways, let's get into these numbers.
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  As you guys know, my numbers are a little different than Nikko's
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  and I always start with my favorite number which is the
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  block height. Guys tick tock next block.
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  It's the only date that matters now.
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  We are currently at a block height of 806,619.
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  The current Bitcoin price is 25,775.
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  You know it I guess you know Side tangent.
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  I was saying that maybe we are out of the the bear market crab
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  market because we had some good news in the price pump.
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  Well we had some good news and the price went down South.
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  Maybe we're still in a crab market slash bear market.
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  Anyways that's a totally other tangent.
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  The Moscow time aka the sats per dollar AKA how much your Fiat
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  dollars worth in Bitcoin AKA how much Bitcoin you can buy for a
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  single dollar is currently at 3879.
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  If I could, I would do a poll right now of are we gonna see 4K
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  sats? But I can't do this all right
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  now. Anyways, the total percentage of
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  Bitcoin that will ever be issued is currently at 92.75 percent,
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  92.75%. The market cap of Bitcoin in
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  Fiat terms is at half a trillion dollars, $502.2 billion.
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  The realized monetary inflation taking Fiat currencies to school
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  is at 1.75% and going to be cut in half roughly around April,
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  and the Bitcoin versus gold market cap is only at 3.93%.
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  So much room to run in the hard money game and the total
• 7:40
  lightning capacity currently is around 4742 Bitcoin or publicly
• 7:47
  reachable lightning capacity. The hash rate the last 90 days
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  is 380. Exit hashes slowly but surely
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  creeping up guys. If you're if you're following
• 7:56
  along hash rate be booming boys and girls.
• 7:59
  And the pending fees. Wow look at the pending fees
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  guys. 6.8 Bitcoin right now. Geez I think it's doubled.
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  What's going on out there Why why is it so?
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  What's going on in the in the in the men pools out there.
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  I don't know. Is there?
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  I don't know. I'll have to look into that.
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  Interesting. I I was not expecting that.
• 8:16
  Sorry guys. Anyways, I saw this video from
• 8:21
  documenting Bitcoin shouts out to that account, AKA documenting
• 8:24
  BTC. And you know, you know what I
• 8:27
  like to do guys on the show. I I like to as much as possible
• 8:32
  break down Bitcoin in the simplest terms imaginable
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  because I still see so many people that don't understand
• 8:39
  what Bitcoin is. They don't understand the
• 8:40
  importance of Bitcoin and they're still sitting on the
• 8:43
  sidelines. And so any chance I get to try
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  to give you examples of what is Bitcoin in the simplest terms
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  possible? I always do it and I think this
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  is a good way to tee up all the news that we're going to be
• 8:56
  covering today. And even the culture today is
• 8:58
  just a very, very high level, easily explainable view of what
• 9:03
  Bitcoin is. And of course I have a video
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  here from Jack Mahler's one of the Go entrepreneurs in the
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  space and he's just got a way of explaining Bitcoin that I wish I
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  could I I'm a I'm a lot more wordy when it comes to my
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  Bitcoin. I usually get more emotional
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  please. But this is very clear cut way
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  of explaining Bitcoin. So let's get into this, and then
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  we'll have a conversation about it.
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  The other Jack and I grew them thinks of Bitcoin as the
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  currency of the Internet because of the similar properties they
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  retain. The Internet has actually in
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  similar properties of maybe something like the United States
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  of America. There's a freedom and a pining.
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  There's a freedom in coming and going.
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  Everyone is created equal. It's a system of users with no
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  admins, and so it is a system that's designed to be
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  peer-to-peer. And because of that, there is no
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  natural relationship with the nation state or corporation.
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  And so it is naturally global and is natively digital, which
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  makes it incredibly accessible and it doesn't inherently
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  require systems like trust. And so I think that is why it is
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  the currency of the Internet and more specifically it's the first
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  ever digital bear instrument, so bytes of data.
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  Could represent physical value and so for something like a
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  Stripe, you know Visa payments are promises of future
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  settlement and so Stripe doesn't actually offer finality within
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  itself. It forwards along messages of
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  promises and so that for for those reasons but then to public
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  blockchain. Sorry this is a loaded question,
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  so I'm giving. My best is that Bitcoin doesn't
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  have a natural issuer. No one Sotoshi Nakamoto even
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  paid for his or her their Bitcoin with energy.
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  And so it is a commodity like instrument and its truest in
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  most natural form and that's a very, very important property
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  that even someone like the SEC is beginning to recognize.
• 11:07
  So I think the combination of those make Bitcoin tremendously
• 11:11
  unique. It has a Big Bang type of effect
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  where theoretically, in my opinion, it's impossible to
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  replicate. And retain and achieve the
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  properties that Satoshi did Jack.
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  I wish I could be so eloquent in such a simple way explaining
• 11:29
  what Bitcoin is. And This is why I wanted to
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  bring up that little video today, because it's going to
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  touch in on the news story today.
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  And it's basically the idea that everyone is waking up to the
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  value proposition of Bitcoin. They can fight it, they can
• 11:44
  fight it, They can call it what do they call it?
• 11:47
  Digital pet rock, whatever they want.
• 11:49
  You know even the shit corners out there that are muddying the
• 11:51
  waters. It's becoming very obvious that
• 11:53
  there's Bitcoin and there's Shitcoin and nothing else comes
• 11:56
  even close to Bitcoin. Like Bitcoin is the digitally
• 12:00
  native money of the Internet. It's permissionless,
• 12:03
  peer-to-peer. This is the separation of money
• 12:06
  and state, and Bitcoin is accessible to everyone.
• 12:09
  It's trust, minimize, and all you have to do is just have a
• 12:12
  little curiosity, like you have to opt into the network.
• 12:16
  There is no hand that's going to force you to use Bitcoin.
• 12:20
  You know, there's no Bitcoin marketing team.
• 12:22
  It's just us out here. It's just other bitcoiners that
• 12:24
  are not only just in love and obsessed with Bitcoin, but we're
• 12:29
  here trying to help other people out there and we get mud thrown
• 12:33
  in our face and you know, it's just it's it's hey, it may not
• 12:37
  be much but it's honest work anyways.
• 12:39
  Slowly but surely the world is waking up to the value
• 12:42
  proposition of Bitcoin. You know, hard cap, censorship
• 12:45
  resistant, digitally native instant settlement in 10
• 12:48
  minutes. What else you know stores value
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  through time and space can literally uncensorability
• 12:56
  exactly can send it around the world in freaking lightspeed
• 13:00
  like it it nothing compares to Bitcoin.
• 13:03
  The the traditional financial system doesn't even come close
• 13:07
  to Bitcoin. It Bitcoin is so simple and the
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  settlement layer of Bitcoin is is the 10X improvement on the
• 13:15
  traditional digital payment system that we are using like
• 13:18
  and then add that to the monetary policy of Bitcoin which
• 13:21
  if you are a Fiat maxi out there you don't even know what they're
• 13:25
  going to do with your dollar coming up next month.
• 13:27
  Like, we know what's going on with our money for hundreds if
• 13:30
  not thousands of years. And it just, it really goes to
• 13:35
  show that the digital payments in their current forms cannot
• 13:37
  compete with Bitcoin and no amount of propaganda against
• 13:41
  Bitcoin will stop this. And as you can see in today's
• 13:44
  news, when we go through all the receipts, whether it's the SEC,
• 13:49
  whether it's FAZ V, whether it's the black rocks of the world,
• 13:52
  whether it's nation states like El Salvador of the world, or
• 13:54
  individuals like yourself, slowly but surely people are
• 13:58
  waking up to the idea that you might want to own some Bitcoin
• 14:02
  just in case it catches on. Because it's happening in real
• 14:06
  time, guys. And I know you that watch this
• 14:08
  show every single day I I'm preaching to the choir.
• 14:11
  But we say all this stuff constantly to try to plant and
• 14:15
  accept the ideas to just the the layman, just the casual watcher
• 14:19
  that may be on YouTube that may have just got caught by the
• 14:22
  title. And they're like, man, what is
• 14:24
  this Bitcoin stuff? Is it really important?
• 14:26
  Yes, it is important. And you want to hold some, I
• 14:29
  don't care how much you hold, but you need to hold some.
• 14:31
  I would say go almost all in if you're possible.
• 14:34
  But you know, we all on different time scales and we all
• 14:37
  have different behaviors and we all have to audit our finances
• 14:41
  differently. But man, Bitcoin is absolutely
• 14:45
  winning out there. And yeah, shouts out to Narwhal
• 14:47
  who put it in the chat. I do have the meme for you guys.
• 14:49
  Today is the second year anniversary of El Salvador
• 14:52
  adopting Bitcoin. Yes, it is like this is it goes
• 14:56
  back to like I know we had this conversation I think it was last
• 14:59
  week of are we early, are we not on a price scale, you know, who
• 15:03
  knows on an adoption scale. I think it's becoming or it's
• 15:07
  absolutely obvious to everyone that we are early and just
• 15:11
  there's so few people that we can call bitcoiners.
• 15:13
  I I'd ventured to say it's probably less than a million
• 15:16
  true bitcoiners out there in the world that are holding a
• 15:19
  significant amount of wealth in Bitcoin and and won't ever go
• 15:23
  back to the Fiat currency. So we have a lot of work to do
• 15:26
  but hey, Bitcoin stays winning the incentive stay winning.
• 15:29
  TikTok next block. This is the way it's it's so
• 15:32
  beautiful being on the front lines.
• 15:33
  Anyways, Mike, what's your thoughts on all this?
• 15:36
  Well, I I I got to be honest as far as like going off the the
• 15:41
  Jack Mahler's clip, I don't have a whole lot to say.
• 15:44
  I have a lot more to say as far as like the the rest of the
• 15:46
  topics we're going to be getting into today.
• 15:50
  But I what I can like what I can add to the conversation is that
• 15:55
  there's a significant level of safety and defense that Bitcoin
• 16:00
  can provide. We were talking about this
• 16:02
  specifically last night on Bitcoin veterans.
• 16:05
  There's a there's a portion of the the community population
• 16:11
  that we have our soldiers out there both currently enlisted
• 16:16
  and. You know, veterans that are no
• 16:18
  longer enlisted and we look to them to defend ourselves and
• 16:23
  defend our loved ones and our families.
• 16:25
  But then there's zero adherence or clarity or conversation
• 16:31
  around making sure that, like those that are protecting us are
• 16:35
  protected themselves. And I think that like this whole
• 16:38
  Bitcoin adoption and Bitcoin use case is going to really
• 16:42
  penetrate the kind of the. The veil or into the mainstream
• 16:47
  mindsphere. As far as if you don't have the
• 16:50
  capability of just using an asset that is freely spendable
• 16:54
  and freely savable like you, you basically don't have anything
• 16:59
  right. Because like if you're if you're
• 17:01
  not capable of saving your time, energy and wealth in something
• 17:06
  that cannot be removed from your own ownership, that that's a
• 17:12
  significant level of risk. Like.
• 17:15
  It was kind of not kind of. It was aggressively bought into
• 17:19
  that the US dollar was always going to save and retain its
• 17:22
  value. And like you could just put it
• 17:24
  underneath your mattress and you'd be good.
• 17:27
  Look what happened the last couple of years.
• 17:29
  Like how much can you actually buy with that money that you put
• 17:31
  in your mattress? Like it's just it's and I
• 17:35
  understand like you and I have talked about it.
• 17:37
  Like I understand the nihilism that comes from when you
• 17:39
  understand the monetary system and the situation for inflation
• 17:43
  and. Real estate prices going up and
• 17:46
  all this other, it's like where where's the hope?
• 17:48
  And it's like I I've been kind of meaming it a little bit
• 17:52
  lately. There's the conversation topic
• 17:54
  of Bitcoin is hope. Bitcoin is a store of value
• 17:58
  because it's hope. Where I disagree, I think
• 18:00
  Bitcoin is hope because it's a store of value, because without
• 18:06
  that. Like, we don't have a foundation
• 18:08
  to try and build our future upon, and then you don't have a
• 18:10
  foundation to pass on down to your children, which is kind of
• 18:12
  the whole point of this entire game we call life, right?
• 18:15
  Like learn how to do better and then build somebody that can do
• 18:21
  better on top of your better and continue pushing the advancement
• 18:24
  of society in the human race. So that's what I've got so far.
• 18:28
  We got a We got a lot more interesting stuff to talk about
• 18:30
  though, in my opinion, as far as I don't want to.
• 18:34
  Docks the conversation that we're about to have.
• 18:37
  So well wait wait say that meme again what you say the Bitcoin
• 18:41
  is hope because it is a store of value.
• 18:43
  I absolutely love that and and we're literally going to talk
• 18:45
  about that on the culture. So we'll put a pin on that one
• 18:48
  because it that's a that's a great look.
• 18:50
  You know something about the synchronicities on the show.
• 18:52
  It's like if you if you if you program the show correctly then
• 18:57
  it all goes into the main message that Bitcoin is the way.
• 19:00
  Anyway, before we move on guys, of course we are plugging our
• 19:04
  boys at the Bitcoin magazine Bitcoin 2024 in Nashville July
• 19:08
  25th through the 27th next year around I guess after the having.
• 19:12
  But we're going to be there. I hope you guys go there.
• 19:14
  We're telling you this now because the tickets will go up
• 19:18
  and you guys always complain about it, but get your ticket
• 19:21
  today before the prices go up. You know you're going to FOMO
• 19:24
  into going to the conference. Use promo code simply and you
• 19:28
  can get a discount today. So we hope to see you.
• 19:31
  I can't wait to get to Nashville.
• 19:32
  I haven't been to Nashville yet, but all my friends are out there
• 19:34
  and they're telling me it's super duper lit.
• 19:38
  Anyways, let's get into the news, guys.
• 19:44
  The Daily News. All right before.
• 19:50
  Before I go on guys though, I got a shout out Foundation.
• 19:53
  I don't have my foundation and it's in the mail, but I am so
• 19:57
  hyped about Foundation. This is one of the, I think, one
• 20:00
  of the prettiest hardware wallets out there.
• 20:02
  And it is fully open source, self custody done right build
• 20:07
  with premium grade hardware wallet, fully open source, made
• 20:10
  in the US, most intuitive Bitcoin hardware wallet out
• 20:13
  there. It looks like it looks like your
• 20:15
  old Nokia phone. This is definitely consumer
• 20:19
  grade hardware wallets out there giving people something that
• 20:23
  they are used to that they're familiar with so they don't get
• 20:26
  scared away guys. So get your Bitcoin off in
• 20:28
  exchange and into your own hands in a few minutes and they even
• 20:32
  have some concierge services services out there that that
• 20:35
  walk you through it. White glove service to get on
• 20:38
  boarded on passport by foundation.
• 20:42
  Anyways guys, you can scan the QR code over there and we will
• 20:45
  take you directly to the website.
• 20:49
  Anyways before I go on as we've been talking about today, some
• 20:53
  huge news happened yesterday. It is not like the ink hasn't
• 20:58
  fully dried yet, but this is huge moving forward for Bitcoin
• 21:03
  in terms of corporate adoption because it's starting to remove
• 21:09
  the obstacles around people embracing Bitcoin.
• 21:12
  And I have a tweet here starting off by Corey Clifson and he goes
• 21:15
  Christmas came early for Sailor and Micro Strategy and other
• 21:19
  companies with Bitcoin on their balance sheets.
• 21:21
  Fazbe is moving Fair Valley reporting for Bitcoin Holdings.
• 21:25
  And before I move on guys as I put in the title Sailor in the
• 21:31
  past and we and we played this clip for you guys.
• 21:33
  I forget what episode it was but we played this for you guys on
• 21:36
  the show before. And Sailor went out and said a
• 21:39
  while back that there I think it was a / a year ago that there is
• 21:43
  3 things that are needed to take Bitcoin to a $5 million per
• 21:48
  coin. And I know you guys are like
• 21:49
  whoa, we're getting stupidly bullish today on this Thursday
• 21:52
  show. What he is talking about is the
• 21:57
  adoption of Bitcoin and eliminating the disincentives
• 22:00
  from the traditional financial world to embrace Bitcoin.
• 22:03
  Yes, for a while Bitcoin was very much looked at as like, you
• 22:06
  know, it's a Ponzi scheme. It's a fad, it's gonna go away.
• 22:09
  But after the news that we heard yesterday and I'll bring the
• 22:12
  receipts for you guys, I'll explain it completely.
• 22:14
  But first, I wanna play this video by Saylor.
• 22:17
  It goes to show that the institutions, you know, whether
• 22:20
  the BlackRock, whether it's on the nation state level or
• 22:22
  nonprofits like Fazbee, the what, what's that financial
• 22:26
  accounting standard board. And it goes to show that they're
• 22:30
  starting to embrace Bitcoin. And I know I can hear the
• 22:33
  bitcoiners out there talking about like, you know, we don't
• 22:36
  need the institutions. Well guys, I don't mean to be
• 22:39
  the full number go up guy here, but without the liquidity and
• 22:43
  capital from traditional financial worlds, the number
• 22:47
  isn't going to go up as high as you want.
• 22:48
  And of course I want individuals adopting Bitcoin.
• 22:51
  As I've been saying, this was inevitable.
• 22:53
  We knew that the institutions and corporations and nation
• 22:56
  states at a certain point will be adopting Bitcoin and it is
• 23:00
  happening probably sooner than most of us thought.
• 23:03
  Anyways, let's get into this clip here by Michael Saylor
• 23:05
  explaining the three things that will be needed for Bitcoin to
• 23:09
  hit $5 million per coin. And you think the catalyst that
• 23:14
  10X is it really is? The the moment that JP Morgan
• 23:18
  Chase or or or other big money center banks can custody these
• 23:21
  for large corporates, that's it. That's the sea change because
• 23:24
  there's really no reason why they shouldn't be diversifying
• 23:27
  the assets on their balance sheet.
• 23:28
  Is that is that your take? Because I know that like Tim
• 23:31
  Cook, I don't know where it came from.
• 23:32
  Earlier this week he said something like, ah, I own some
• 23:34
  Bitcoin but we have no designs on anything or I don't know if
• 23:37
  he said Bitcoin or crypto in general.
• 23:39
  Is that the thing? And then and then the I.
• 23:41
  Think. There's.
• 23:43
  Look, first of all, it's going up by a factor of 10 whether
• 23:45
  they fix any of the stuff, right?
• 23:47
  It's going to go a lot. It's going to be a grind up by a
• 23:50
  factor of 10 just because gold is broken and the coin's going
• 23:55
  to replace gold. And now everybody in the
• 23:57
  universe knows they need a non solver and store a value in the
• 24:01
  form of a bearer instrument. So now they're looking the the
• 24:05
  amount of stories for last year. People said inflation may be
• 24:09
  coming. We're not sure.
• 24:10
  Now the mainstream narrative is flipped to inflation is here.
• 24:14
  You need inflation hedge. So it's going to grind up to
• 24:18
  replace gold. It'll go to $500,000 a coin
• 24:20
  regardless of why they fix these things.
• 24:22
  But there are three things that are massive catalysts that cause
• 24:26
  an acceleration. And I I don't think that those
• 24:30
  three things don't take us to 500,000, they take us to 5
• 24:33
  million a coin, right, those three things are.
• 24:37
  A spot ETF where someone can go ahead and buy $100 million of
• 24:42
  Bitcoin by a security and ETF security I think that's 1/2 is
• 24:48
  your bank is going to custody it for you and lend against it.
• 24:53
  And three is I can mark it up or mark it down on my balance sheet
• 24:59
  based on fair value para pursue that.
• 25:02
  It'll be para pursued to the way I'd handle Apple stock, or at
• 25:06
  least that good. If it's if you have property
• 25:10
  with fair value accounting, by the way, it becomes parapasu to
• 25:15
  the way you'd handle treasury bonds on a treasury balance
• 25:19
  sheet. Treasuries are better than
• 25:20
  stocks because Treasury is property whereas a stock is a
• 25:24
  security and you're capped out at 40% of your balance sheet is
• 25:28
  security. So.
• 25:30
  So it would be a major, major breakthrough if if you saw any
• 25:35
  of those three things. And I'll end with this one
• 25:38
  observation. I tweeted this last week, but I
• 25:41
  still I think it's very powerful.
• 25:43
  It's if the banks can hold this stuff on their balance sheet,
• 25:47
  then a whole new class of investors are going to buy it.
• 25:51
  People are going to put in billion and multibillion dollar
• 25:54
  orders to buy it as a Treasury asset.
• 25:56
  Nobody's going to sell it because because there's no
• 25:59
  reason to sell it if you can borrow against it at Libor plus
• 26:02
  art, so for plus 50 basis points.
• 26:07
  Right. So you'll be you'll be borrowing
• 26:09
  against Bitcoin. So for plus 50 or so, for plus
• 26:11
  100 basis points, no one's ever gonna sell it.
• 26:15
  Oof. OK, guys, now, now, now I hear
• 26:18
  some people in the chat already saying, you know, like not not
• 26:22
  letting banks custody your Bitcoin.
• 26:24
  I know, I get it. I wouldn't do that as well.
• 26:26
  But the point of the matter is, two of these three things are in
• 26:31
  the process of happening right now.
• 26:32
  We all know about the BlackRock Bitcoin ETF, spot Bitcoin ETF's.
• 26:36
  Basically, you know, we don't know when it's going to get
• 26:39
  approved, but we know it will. It's not a matter of if, it's a
• 26:43
  matter of when. And now we have the fast beat
• 26:46
  change changing the accounting rules in regards to Bitcoin.
• 26:49
  And of course, inevitably the banks will want your Bitcoin, so
• 26:52
  don't give them your Bitcoin. Anyways, let's get into this
• 26:55
  news because we set the stage for this.
• 26:58
  This is how we Bitcoin will get to that $5 million per Bitcoin.
• 27:02
  Anyways, I got that before I get into the the actual article
• 27:05
  covering what happened, We have James Lavish responding to the
• 27:09
  news yesterday saying this is huge development for Bitcoin.
• 27:12
  For those interested in the details, he's got a thread here.
• 27:15
  So I'm going to break down the thread of when this was
• 27:17
  initially talked about and then we'll get into the coverage from
• 27:21
  Bitcoin Magazine. So the latest Fazbe ruling will
• 27:24
  be pretty big deal for Bitcoin. And of course, this was November
• 27:26
  14th, 2022. But what's FASBE and why should
• 27:30
  you care? Accounting is boring, but the
• 27:33
  latest FASBE vote opens the door for companies to buy and hold
• 27:36
  Bitcoin and corporate treasuries without balance sheet penalties.
• 27:38
  OK, so how? Let's walk through it nice and
• 27:41
  easy, shall we? First, the Financial Accounting
• 27:43
  Standards Board, known as FASBE, is an independent organization
• 27:47
  that establishes accounting and financial reporting standards
• 27:50
  for US based companies. These are known as the Generally
• 27:54
  Accepted Accounting Principles or GAP.
• 27:56
  As investors, why do care? Because the SEC recognizes FAS B
• 28:00
  as the official accounting rule maker for US public companies.
• 28:04
  And if companies do not follow gap principles, they're out of
• 28:06
  compliance and no respectable accounting firm will certify
• 28:09
  their financials as correct. At the heart of why the latest
• 28:13
  FAS B ruling matters for Bitcoin is the long lived intangible
• 28:16
  asset. See, FAS B originally determined
• 28:19
  that Bitcoin was to be considered a long lived
• 28:21
  intangible asset, much like a patent, copyright, or trademark.
• 28:25
  And this creates a problem when the asset is accounted before on
• 28:28
  a company's balance sheet. So we have the basics, the
• 28:32
  pretense of where we were and where we're going.
• 28:35
  And on the news yesterday, Saylor tweeted the original
• 28:38
  article. I'm not gonna use the original
• 28:39
  Bloomberg Tax article because it it's not as as succinct as the
• 28:45
  Bitcoin Magazine one, so I'll use that one.
• 28:46
  But he's quote tweeting the article from Bloomberg Tax where
• 28:49
  the news came from and say it goes fair value accounting is
• 28:52
  coming to Bitcoin. This up upgrade to Fazbe
• 28:55
  accounting rules eliminates a major impediment to corporate
• 28:58
  adoption of BTC as a Treasury asset.
• 29:01
  You heard the 1st. All right, so here we are on
• 29:05
  Bitcoin Magazine shouts out to my boy Nick Kaufman, who wrote
• 29:08
  the article and he goes Fazbe votes in favor of Fair value
• 29:11
  accounting for Bitcoin. In long and anticipated move,
• 29:14
  Bloomberg Tax reported that the Financial Accounting Standards
• 29:17
  Board, aka Fazbee, is set to introduce new fair value
• 29:20
  accounting rules for Bitcoin and other crypto currencies.
• 29:23
  These new rules aim to provide a more accurate reflection of the
• 29:26
  market value of digital assets and bring greater transparency
• 29:29
  to the financial reporting of companies that hold crypto
• 29:32
  currencies. The rules, expected to be
• 29:34
  published by the end of the year, are set to go into effect
• 29:38
  as soon as 2025, but companies will be able to apply them
• 29:41
  earlier than that, the report said.
• 29:43
  For years, the valuation of cryptocurrencies like Bitcoin
• 29:47
  has been a challenging aspect of financial reporting for
• 29:50
  companies. The volatile nature of these
• 29:52
  digital assets has made it difficult to accurately assess
• 29:55
  their fair market value Under the current accounting
• 29:58
  standards. Companies often struggle to
• 30:00
  present a true picture of their financial health.
• 30:02
  As the value of Bitcoin and cryptocurrencies fluctuated
• 30:05
  widely, the Fazbees move to introduce fair value Accounting
• 30:08
  rules will require companies to regularly assess the fair market
• 30:12
  value of the digital assets and report any fluctuations in value
• 30:16
  as part of their financial statements.
• 30:17
  This means that if the price of Bitcoin surges or plummets,
• 30:20
  companies will have to reflect these changes in their financial
• 30:23
  reports, providing stakeholders with a more accurate picture of
• 30:27
  their financial position. The old treatment accounted for
• 30:29
  Bitcoin as an intangible asset, which meant if the the price
• 30:33
  went lower than what companies bought it for, they had to take
• 30:35
  an impairment charge on their books even if they didn't sell.
• 30:38
  But if the price went up, they couldn't receive any benefits on
• 30:41
  their books unless they sold. Now with fair value accounting,
• 30:44
  periodically i.e. every quarter, companies can report the
• 30:48
  unrealized gains and losses to get an actual benefit on their
• 30:51
  books. If the price of the asset
• 30:52
  increases without having to sell to capture, this could make
• 30:55
  companies more likely to add Bitcoin to the balance sheet and
• 30:58
  become longterm holders as they can report the appreciation
• 31:01
  without having to anything. Investors and regulators will
• 31:04
  now have access to more timely and accurate information about
• 31:07
  the financial health of companies involved in the
• 31:09
  Bitcoin space. This increased transparency is
• 31:12
  expected to foster greater trust and confidence in the industry,
• 31:15
  which has often been plagued by concerns over its lack of
• 31:18
  oversight and regulation. The move towards fair value
• 31:21
  accounting also aligned with the growing acceptance of Bitcoin
• 31:24
  and mainstream finance. As it becomes more integrated
• 31:27
  into the global financial system, it is essential that
• 31:29
  accounting standards evolved to accommodate digital assets.
• 31:32
  The FASBE decision to implement fair value accounting rule is a
• 31:36
  recognition of the maturing market and its importance in the
• 31:39
  broader economy. So TLDR guys, from what I take
• 31:44
  from this, again I am no accountant, I am no financial
• 31:47
  advisor. But the TLDR of this, from my
• 31:51
  opinion and from what I'm reading is that now one of the
• 31:54
  main obstacles for companies holding Bitcoin on their balance
• 31:57
  sheet has is going to get wiped away.
• 31:59
  And of course the news this these rule books won't be fully
• 32:04
  released until the end of the year, so a couple of months and
• 32:07
  they won't be implemented until 2025, which a little side
• 32:10
  tangent I feel like is going to be the perfect timing because
• 32:13
  it's going to be like at the very tip of the bull run guys.
• 32:16
  So some more hope I'm in there for you guys, but you can if
• 32:20
  your company and you want to get Bitcoin on your balance sheet,
• 32:22
  you can probably use these rulings in 2020. 4 But you can.
• 32:27
  They explicitly stated that you can.
• 32:29
  You can use it for. I think you can even use it
• 32:32
  relatively immediately. Yeah.
• 32:35
  Yeah. I might be wrong in the sense of
• 32:36
  like they can use it for like maybe even this year.
• 32:40
  Yeah, we'll see this year. I'm sure Micro Strategies will
• 32:44
  come out with some. I'm getting trouble with some
• 32:49
  news about him using this. But essentially guys, this opens
• 32:53
  up the whole landscape for corporations to add Bitcoin to
• 32:57
  their balance sheet. Because like we all know,
• 32:59
  especially on an individual level, the amount of obstacles
• 33:03
  and loopholes that you have to do to be, you know, legit in
• 33:07
  regards to holding and saving your Bitcoin, it's it's
• 33:10
  astronomical. It it's it's a huge headache.
• 33:13
  And now the fact that corporations can use this new
• 33:17
  fair market valuing for accounting just goes to show
• 33:20
  that not only is the traditional financial world picking up and
• 33:24
  and basically embracing Bitcoin, which is something that we all
• 33:28
  want to see, of course we we want to route around the system.
• 33:32
  But it's inevitable that they were going to start to look at
• 33:35
  Bitcoin a lot more fairly. And again for those guys out
• 33:38
  there, they're like what the hell was Saylor talking about
• 33:40
  Para Pasu? Like what does that even mean?
• 33:43
  I looked it up and it means equal footing guys.
• 33:45
  So now you can hold Bitcoin on your balance sheet like anything
• 33:49
  else that is like like it. So if you are a company and the
• 33:53
  way that I heard this shouts out to the swan stream, they did a
• 33:57
  stream yesterday with Nico and Terrence.
• 33:59
  And essentially if you had bought Bitcoin at 50K and it
• 34:04
  dropped to like 15 K and then it went back up to whatever 25K on
• 34:09
  your balance sheet, you would only be able to mark that 15K
• 34:12
  price and you you never get the gains of the price going up
• 34:17
  again. And now and I think that was on
• 34:19
  a yearly level and now you can readjust that your balance sheet
• 34:23
  on a quarterly level. So if the Bitcoin price is
• 34:26
  fluctuating, you don't have to mark it down, you don't have to
• 34:30
  get wrecked on your shareholders.
• 34:32
  And this is 1 huge thing to open up even more capital going into
• 34:37
  Bitcoin. And I know, I know everyone in
• 34:39
  that in the chat is kind of like, OK, why is this matter to
• 34:43
  me bro? Like I am just an individual
• 34:45
  holding Bitcoin. I'm not a corporation.
• 34:48
  Well, we known that this was inevitable that the corporations
• 34:51
  are going to get into Bitcoin and now those obstacles are
• 34:54
  getting removed and the amount of capital that's going to get
• 34:57
  injected into Bitcoin from like Sailor was saying, you know some
• 35:01
  with $100 million wanting to buy Bitcoin, now they can do that
• 35:04
  easily. And with the BlackRock ETF news,
• 35:07
  I think it is showing that this time might be different guys,
• 35:11
  this bear market might be the best bear market we've seen in a
• 35:14
  long time on a number go up level, but on a on a
• 35:19
  entrepreneur building out the network level it's even just as
• 35:22
  good. We've seen the hash rate respond
• 35:26
  massively since the China ban. It's it's incredible how how
• 35:30
  much hash power has came back online after the China ban and
• 35:34
  it just goes to show that Honey Badger don't care, you cannot
• 35:37
  stop the honey Badger. Bitcoin is taking over the world
• 35:40
  and it's starting of course on an individual grassroots level
• 35:43
  and now it is going on to the corporate and nation state level
• 35:47
  and moving forward guys, I think it's going to be very
• 35:51
  interesting and surprising to see how much capital gets
• 35:54
  injected into Bitcoin now that all the loopholes are are
• 35:58
  getting washed away and Bitcoin is getting embraced.
• 36:01
  So of course on a certain level I think it's a time where I have
• 36:06
  to do the the PS:. A of take your Bitcoin into self
• 36:09
  custody, do not give them your Bitcoin.
• 36:12
  You know, we we we don't we don't like paper Bitcoin and we
• 36:16
  want people to hold Bitcoin because it is a digital bearer
• 36:19
  instrument and you do not need to trust these middle men.
• 36:22
  But if you're in the traditional financial world, the amount of
• 36:26
  loopholes that you have to go to get your capital in the Bitcoin
• 36:28
  are starting to get washed away. And by 2025, you know if we do
• 36:33
  make it into another bull run guys, I think it's everything is
• 36:37
  going to line up perfectly and the and the stars are going to
• 36:39
  line, whether it's the the spot Bitcoin ETF in the US, whether
• 36:44
  when the fast B rules come out and the price starts to surge.
• 36:49
  Wow. You know, I don't want to say
• 36:51
  this is a super cycle, but we made it never come down again.
• 36:54
  Be smart guys. Stay humble.
• 36:55
  Stacks at stay solvent. Anyways, Matt, Mike, I know you
• 37:00
  you did a little digging in this.
• 37:01
  Is there anything that I missed that you want to add on top of
• 37:04
  this? Yeah, I think this this goes
• 37:07
  back to kind of like the talking point that I've been really
• 37:12
  trying to get out into the the Twittersphere and the Bitcoin
• 37:16
  community is that. We keep talking about Bitcoin
• 37:19
  strictly from like these kind of like these financial means like
• 37:22
  this fast. We move like everybody's talking
• 37:24
  about it from like a portfolio management or like a like a
• 37:27
  banking standpoint or like corporate balance sheet without
• 37:31
  which I would just roll into banking.
• 37:35
  This also plays a massive role in my opinion in the whole
• 37:40
  Bitcoin mining space, like Bitcoin miners that are taking
• 37:44
  the their produced. Bitcoin for their operations and
• 37:48
  keeping them on their balance sheet.
• 37:52
  Like you said, it doesn't just it, it takes away the the
• 37:55
  relationship of acquiring and accumulating Bitcoin on their
• 38:00
  balance sheet as just a strict negative which is how it was
• 38:03
  structured with the being an intangible asset like James
• 38:06
  Lavish discussed. Now they can take advantage of
• 38:12
  the fact that like when when we have our bull markets, when
• 38:15
  price appreciates. It like having Bitcoin doesn't
• 38:18
  have to be only reported by the bear market value which I think
• 38:24
  we would all agree seems a little unfair considering it is
• 38:28
  a it is treated as a commodity, but then we're going to treat it
• 38:31
  like a patent. At the same time.
• 38:32
  It's like that that there's there's an incongruence there,
• 38:35
  like there's a a misalignment with the the understanding and
• 38:39
  the the incentives. Now I want to go further too,
• 38:44
  because it's not just the Bitcoin miners that stand to
• 38:46
  really benefit. I would also speculate that the
• 38:54
  oil and gas majors and the energy producers that are
• 38:56
  utilizing Bitcoin mining, they now have an incentive, or at
• 39:00
  least an Ave. to not just liquidate their Bitcoin
• 39:06
  production for revenue, they can use it as a balance sheet
• 39:10
  booster. In a sense of you putting it,
• 39:13
  putting it down as an asset and that being reflected positively
• 39:18
  during bull market activity and events to their shareholders and
• 39:23
  their stakeholders. Because like, like, like think
• 39:27
  about it in the sense of if you're a shareholder or a
• 39:30
  stakeholder, one of these energy producers where it's oil and
• 39:33
  gas, nuclear, solar, wind, it doesn't matter.
• 39:36
  Say they're using Bitcoin mining.
• 39:38
  To improve their operational efficiencies, like I've talked
• 39:40
  with you guys ad nauseam many times about how Bitcoin mining
• 39:43
  does push the efficiencies up into the green.
• 39:47
  Imagine that they're putting Bitcoin on the balance sheet,
• 39:52
  like whatever excess they don't need to sell, but their
• 39:57
  financials are reflecting negatives because the price has
• 40:00
  gone down so much like say from like a a bull market peak.
• 40:04
  And it goes from like we'll just use the example of like the the
• 40:09
  the last bull run going up to 69 K and then down to 15.
• 40:15
  Imagine being a shareholder for one of these operations or one
• 40:19
  of these companies that's mining Bitcoin and their financials
• 40:23
  look abysmal because Bitcoin's value has gone down so far and
• 40:28
  they have to report it by the bear market bottom.
• 40:31
  It's just like why? Why are we doing this?
• 40:34
  You know, because that that's that's what the that's what the
• 40:37
  Normie shareholder that's not orange filled.
• 40:39
  It's like why are you putting this asset on the balance sheet
• 40:42
  that's dragging down the value of the company so much?
• 40:46
  That's and that and like this Fast B thing when it goes
• 40:49
  through at the end of the year, it's completely changes the
• 40:52
  relationship. Yeah, 100% and remember,
• 40:55
  remember, I don't remember if it was this year or the end of last
• 40:59
  year, but remember how much crap Sailor was getting from the the
• 41:04
  markdown on their Bitcoin and and.
• 41:08
  The amount of FUD that went around on corporate press like
• 41:10
  this is going to be completely eliminated.
• 41:13
  You know, maybe it's not this year, but when the rules
• 41:15
  officially go in at the very end of 2024, this is going to really
• 41:19
  open up the doors. And our boy BTC is truth is in
• 41:22
  the chat and he goes, I'm an accountant and this is a huge
• 41:25
  deal. And he's not the only one of my
• 41:27
  friends that told me this. Our boy, he was, he was on, what
• 41:30
  was it Tuesday, Zach. He came on and he was going wild
• 41:34
  in the Dm's with me and being like, dude, this is huge, like,
• 41:36
  you guys have to cover this. This because it really does open
• 41:40
  up so much capital for a corporate adoption level.
• 41:42
  And again, BTC true is jumping in because the accountant
• 41:45
  treatment was one of the biggest roadblocks to corporate
• 41:47
  adoption. And you know Mike has been
• 41:50
  talking about it for Bitcoin miners and and even companies
• 41:53
  that are in the Bitcoin space. But this is huge for every
• 41:57
  business out there from a private to a publicly owned
• 42:00
  company. This is going to open up so much
• 42:04
  capital coming into Bitcoin. But again.
• 42:06
  You know as a as the ardent bitcoiners here, you want to be
• 42:09
  taking Bitcoin into self custody.
• 42:11
  You don't need to spot Bitcoin ETF to get exposure.
• 42:14
  Just buy Bitcoin itself and take Bitcoin into self custody and
• 42:18
  you can benefit from all of the features we've been talking
• 42:21
  about to Bitcoin. Anyways, before I move on guys,
• 42:25
  I got to plug our boys. Brian de Mint book Bitcoin
• 42:30
  Evangelism if you are having trouble.
• 42:34
  Having these conversations about Bitcoin what's What's the one
• 42:37
  that everyone likes? Aunt Edna saying that Bitcoin is
• 42:40
  the currency of the Antichrist? You know, you're skeptical.
• 42:43
  No Coiners objections Your boomer neighbor out there, which
• 42:46
  now most of his concerns are probably washed away after 2025.
• 42:50
  Or, you know, the guy at work. That's like Bitcoin price is
• 42:53
  down, you got so wrecked. Get Bitcoin Evangelism on
• 42:56
  Amazon, scan the QR code below or get on Orange Pill app and
• 43:00
  you can pay it. Directly and stats to Brian de
• 43:03
  Mint. And the point is here guys is
• 43:06
  you know, I find it extremely hard to get normies to read all
• 43:10
  this stuff. So it's about you reading this
• 43:12
  stuff and you being prepared and you having the answers for your
• 43:15
  friends so you can incept these ideas out there to the normies
• 43:18
  because hey. You know they don't got the they
• 43:21
  don't, they don't have the mental bandwidth to care about
• 43:25
  any of this stuff. OK, anyways, let's get into the
• 43:28
  culture, cuz I do want to jump in on this topic about Bitcoin
• 43:31
  as a store of value medium exchange.
• 43:33
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• 43:38
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• 44:04
  All right, guys. So jumping right into the
• 44:07
  culture today, and Mike brought it up earlier.
• 44:09
  Mike, what was what was the meme?
• 44:11
  You said Bitcoin is hope because of its because it's store of
• 44:13
  value properties. Yeah.
• 44:15
  All right, guys. So keep that in mind while we
• 44:17
  have this conversation today. And the reason I was gonna do
• 44:20
  this yesterday, but we had Alex come in last minute.
• 44:23
  And remember last week we had our boy kinetic finance come in
• 44:27
  and we were getting rushed in the chat about using your
• 44:30
  Bitcoin, spending your Bitcoin, you know, participating in the
• 44:33
  circular economy. And while I totally agree, you
• 44:35
  know, Bitcoin is my money, I have to use it for survival.
• 44:39
  You know, it is what it is. We still.
• 44:42
  Double down on the idea of stack stats and stay solving guys.
• 44:46
  Do not let the people out there confuse you.
• 44:49
  You know the classic article. Everyone is a scammer.
• 44:51
  Hoddling Bitcoin is using Bitcoin.
• 44:53
  Again, Hoddling Bitcoin is using Bitcoin.
• 44:57
  Storing value in Bitcoin is one of the biggest factors of
• 45:01
  Bitcoin. As I always say, you need to
• 45:03
  have some capital before you can spend it guys.
• 45:05
  So you need to save in Bitcoin first and foremost, you know?
• 45:08
  You know, it gets complicated with the jargon of the common
• 45:12
  nomenclature of hoddling your Bitcoin, but you're literally
• 45:15
  just saving. You're building up your capital
• 45:17
  reserves because you need to have some capital if you're ever
• 45:21
  going to spend it. Anyways, I saw this thread here
• 45:24
  and it goes. I actually have a few different
• 45:26
  tweets here, but Stefan Lovera. Tweeted this and he went back
• 45:31
  and forth with someone and it. The reason I want to bring this
• 45:34
  up is because there still seems to be a lot of confusion of
• 45:37
  people from people out there that just toddling Bitcoin.
• 45:40
  Isn't using Bitcoin. Oh, you know, you're just saving
• 45:42
  a Bitcoin. It's sitting there on the side.
• 45:43
  You're never you're not moving it.
• 45:45
  And it really, it really gets me.
• 45:46
  Think of the Keynesians out there.
• 45:48
  It's like, oh, the velocity of money.
• 45:49
  Like you need money to circular to go circular around the
• 45:52
  economy for it to be used. It's like, bro, you need
• 45:55
  savings. Like this whole thing is
• 45:57
  starting with a savings revolution.
• 45:59
  And that is the 21 million hard cap.
• 46:01
  Store value is one of the main benefits of Bitcoin anyways, as
• 46:05
  something I've been saying on the show constantly is don't be
• 46:08
  ashamed of being a bitcoiner. And Stefan Labera tweets
• 46:11
  basically the same thing. And then it goes into this
• 46:13
  conversation, so he goes. Don't be silent about being a
• 46:16
  bitcoiner. Normalizing Bitcoin use is the
• 46:18
  goal. Highly agree.
• 46:20
  Whether that's storing your value in it, whether that's
• 46:22
  paying it, whether you're a merchant accepting Bitcoin.
• 46:25
  Normalizing the use of Bitcoin is the goal.
• 46:28
  But we got a response here by Tony Takata and he goes
• 46:30
  normalize the use or the use as savings, same thing.
• 46:35
  Exactly, exactly. That's the that's the whole
• 46:38
  contention here, and Stefan La Vera double s out and goes let
• 46:41
  there be no doubt about it, Hoddling Bitcoin counts as using
• 46:44
  Bitcoin. It's so simple, guys, and then
• 46:46
  someone responds. No, it doesn't.
• 46:48
  It's a dead action. If every bitcoiner did nothing
• 46:50
  but hold, the network would collapse as inflation dried up
• 46:53
  and price would fade to nothing without buying and selling.
• 46:57
  And Stefan La Vera. Bubbles down and goes.
• 46:59
  Huddling is not a dead action. Everything is a dead action.
• 47:03
  What the hell exactly. Every day a huddler wakes up, he
• 47:06
  could spend or sell these coins and that he chooses to huddle is
• 47:10
  important. Guys like don't let people scam
• 47:13
  you out of your Bitcoin because they want you to use it because
• 47:16
  hey, everyone's a scammer. I want your Bitcoin.
• 47:19
  I'm. I'm open about it.
• 47:20
  I want as much Bitcoin as possible.
• 47:22
  But I also understand that saving in Bitcoin.
• 47:26
  You know, the 21 million hard cap, the store of value features
• 47:29
  of Bitcoin is might. It depends.
• 47:32
  Oh yeah. They might be one of the most
• 47:33
  important aspects of Bitcoin. And doubling down on this, I I
• 47:37
  hope you all know safety in almost.
• 47:39
  I'm not gonna read the whole thing.
• 47:40
  I'm not really. Yeah.
• 47:41
  We're not reading the whole thing.
• 47:42
  It's just the beginning because he kind of goes into like drive
• 47:45
  chains here. But that's that's a totally
• 47:47
  different conversation. I wanted to bring up this.
• 47:50
  First paragraph, because safety and of course the author of
• 47:54
  Bitcoin Standard, the Fiat standard and principles of
• 47:56
  Economics, Austrian bitcoiner advisor to El Salvador.
• 48:01
  He's got a very telling example here, and I mean I'm not from
• 48:05
  his home country, but as a person that has built a savings
• 48:09
  in Bitcoin and completely changed my life, I I fully agree
• 48:13
  and double down on this sentiment.
• 48:14
  So safety and goes here and he goes Bitcoin as it is saved my
• 48:18
  family from hyperinflation in Lebanon.
• 48:20
  It is entirely essential to my life.
• 48:22
  It works perfectly fine for me as it is.
• 48:24
  It is not some cool piece of software whose next iterations
• 48:27
  I'm excited about. It is my lifeline if it never
• 48:30
  adds a. Single capability.
• 48:31
  It will still be the most important technology innovation
• 48:34
  of my lifetime. If you want to introduce any
• 48:37
  changes to its software, I'm going to be extremely skeptical
• 48:40
  about adopting them. On my note, hashtag.
• 48:43
  Me too. Anyways, doubling down on this.
• 48:46
  I hope you guys know who Bitstein is.
• 48:49
  He's one of the persons that Orange killed me in the
• 48:51
  beginning. He had a great podcast in the
• 48:53
  past called Noted Bitcoin Podcast with Pierre Rashard.
• 48:58
  And he introduced me to the ideas of Austrian economics and
• 49:03
  Prax theology and explaining the use of money, how it works or
• 49:07
  value me to an exchange unit of account.
• 49:09
  And so when Bid Seen chimes in on this conversation, I listen
• 49:14
  anyways, just doubling down on this because there's been so
• 49:17
  much contention on Twitter lately of like, oh, store of
• 49:19
  value, is it a medium exchange? Is there for the unit account?
• 49:23
  Is it all happening at once or is it not happening at all?
• 49:25
  Do we need to change Bitcoin because we need shit?
• 49:28
  Going to adoption of Bitcoin, it's like, bro, Bitcoin is
• 49:31
  money. Use it how you want, but you
• 49:33
  ain't gonna change my code and my note on my software because
• 49:37
  it's doing what I ask it to do, which is store value, transact
• 49:41
  across the world in minutes, store value through time and
• 49:46
  space. This is what I love it for.
• 49:48
  Anyways, jumping into this tweet, I got a couple tweets
• 49:50
  from bits in here and he goes practi.
• 49:52
  Logically, medium of exchange is defined by the intention of
• 49:56
  acquiring a good for future exchange rather than when it is
• 49:59
  spent. As such, Bitcoin can already be
• 50:02
  understood as a widely demanded medium of exchange, and this
• 50:05
  demand can be expected to continue to grow for numerous
• 50:08
  reasons. As we.
• 50:09
  Constantly on this show. Anyways, got a quote tweet here
• 50:12
  and I'm sure it's probably for like Mises or something.
• 50:15
  And he goes. A medium of exchange is a good
• 50:17
  which people acquire neither for their own consumption nor for
• 50:21
  employment in their own production activities, but with
• 50:23
  the intention of exchanging it at a later date against those
• 50:27
  goods which they want to use either for consumption or for
• 50:30
  production anyways. TLDR Hoddling is using spending
• 50:35
  is disusing. Actors spend Bitcoin when they
• 50:37
  no longer have it used for it because.
• 50:39
  As they value a consumer or capital good more, or because
• 50:42
  they believe a different currency will be more useful in
• 50:45
  future exchange and again doubling down bitch.
• 50:48
  Seeing one of my favorite favorite Bitcoin is again, quote
• 50:51
  tweeting safety. And it's this idea of as a
• 50:55
  Bitcoin price goes up, people are going to use it less because
• 50:59
  of its price appreciation. And if the Bitcoin price just
• 51:02
  goes up forever and everyone's just hoddling like there will be
• 51:05
  no transactions and Bitcoin will fail and they really.
• 51:09
  Yeah, they really just don't understand how purchasing power
• 51:12
  work. As your purchasing power goes
• 51:13
  up, you use it so you can live the life you want.
• 51:16
  Anyways, Bitstein double s down and goes.
• 51:18
  The higher the price of Bitcoin, the more people are willing to
• 51:20
  spend it. If you understand this, it is so
• 51:23
  simple. And look, we even got Corey
• 51:24
  down. Here goes.
• 51:25
  Most people don't spend Bitcoin till they have nothing else to
• 51:27
  spend. That's why the medium of
• 51:29
  exchange adoption curve lags the store of value adoption curve
• 51:32
  guys as you save capital in Bitcoin.
• 51:39
  And the number goes up. You start to use your capital,
• 51:42
  and you want to use it towards things you want.
• 51:46
  As your purchasing power increases, you use your money.
• 51:50
  However you see fit, whether that's you being you know, lambo
• 51:53
  shit coin around there or it's whether you need to eat or pay
• 51:57
  rent as your purchasing power goes up.
• 51:59
  As Bitcoin becomes more valuable, the more it will get
• 52:02
  used. So do not let people scam you
• 52:04
  out of your Bitcoin and tell you that oh hoddling isn't using you
• 52:07
  need to spend your Bitcoin today or else there would be no
• 52:10
  transactions and no one's going to use Bitcoin.
• 52:12
  Bro. Saving is a use case of Bitcoin,
• 52:16
  as Bit seen said Hoddling is using, spending is disusing.
• 52:21
  Anyways, I just wanted to, you know, add this a little cherry
• 52:23
  on top. We got fab the fox here and he
• 52:25
  goes, you asked why bitcoins are so toxic because they realize
• 52:28
  that Bitcoin is a once in a century chance to break the
• 52:31
  chains of an oppressive and slave like monetary system while
• 52:34
  you think yield farming sushi rolls is the revolutionary
• 52:37
  technology. That's why Anon, we're not the
• 52:39
  same. That's why we huddled.
• 52:41
  That's why we're bitcoiners because we understand that
• 52:44
  Bitcoin is the life raft out there and you need to save, you
• 52:48
  need to huddle. You need to have.
• 52:50
  Capital so that you can put it to use however you see fit.
• 52:54
  So store value is maybe the base, fundamental case of
• 52:59
  Bitcoin. You need to store value through
• 53:01
  time and space or else no one's gonna wanna use it.
• 53:04
  But we already know that hey, you can send big I can send
• 53:06
  Bitcoin to Mike right now and we're using it.
• 53:10
  I can send it to a stranger across the globe and I'm using
• 53:14
  it. But.
• 53:15
  You have to store value. So I I hope that this clears up
• 53:19
  some of the contention of whether Bitcoin is a store of
• 53:22
  value, a medium exchange. It is both guys.
• 53:26
  It it is all of it in once. Like it's so simple.
• 53:29
  Yeah need to huddle Bitcoin. It is the best money in the
• 53:32
  world currently that will ever be ever be made.
• 53:36
  And there's no going back to the Fiat currency.
• 53:39
  So get, get, get the Keynesians out of your mind.
• 53:42
  That tell you, you need to, you know, make you the velocity of
• 53:44
  money, go quicker through the economy.
• 53:47
  You need to save something. This is how you can save
• 53:50
  yourself from the madness. You need capital.
• 53:53
  You need to have a savings. Anyways, I've rented enough.
• 53:55
  Mike, what's your thoughts on this?
• 53:57
  I don't know. I don't know if you've ran it
• 53:58
  enough, man. I kind of want to hear it, keep
• 53:59
  going. But like, it's like, you know,
• 54:04
  you know, you guys know my position on like these, like
• 54:06
  these discussions within the community of like, no, it's a
• 54:09
  medium exchange. No, it's a store, like Opie
• 54:11
  said. Like it's stop it.
• 54:14
  It's nonsense. It's both at the same time.
• 54:16
  It's Bitcoin is like multiple different things at the same
• 54:19
  time. That's why that's one of the
• 54:21
  reasons why so many people have such a hard time and grasping
• 54:24
  Bitcoin. Because like the normies and the
• 54:27
  NPC's out there are used to compartmentalizing all these
• 54:30
  different technologies and these avenues and these strategies
• 54:33
  into one specific thing like that.
• 54:36
  The more you get to understand how the world operates, nothing
• 54:40
  is ever, ever just one thing. Everything is interrelated.
• 54:45
  Everything is connected. All space, all points in space
• 54:48
  and time are connected. Yet it's it's never just one
• 54:51
  thing at one time, at one place. It's everything.
• 54:55
  Bitcoin is a store of value. Bitcoin is a medium exchange.
• 54:57
  Bitcoin is a Ave. for monetizing energy.
• 55:01
  Like it's it's just it's just silly to engage in these
• 55:05
  conversations in All in all honesty and then like real quick
• 55:09
  shout out to all you guys. You guys have been fluffing my
• 55:11
  ego in the chat. British Matt Mclovin Like, love
• 55:16
  you guys, but chill a little bit.
• 55:21
  Oh man, yeah. Hey, we that's that's why we
• 55:25
  bring on Mike on the show, man. We we love his takes.
• 55:28
  And I think as as I always say like I'm going to fluff your ego
• 55:32
  a little more as well, I I say it all the time on Twitter
• 55:34
  spaces. I don't know if I say it enough
• 55:36
  on the show, but Mike has a real skill of of having a a sober
• 55:41
  mentality about what's going on, not getting too emotional, not
• 55:44
  getting too caught up in all the noise.
• 55:46
  And it's something that you and I talk about all the time on the
• 55:49
  show. Is or in spaces as well is like
• 55:52
  once you have the Bitcoin fundamentals instilled in your
• 55:56
  brain and you look to the world through the Bitcoin funnel and
• 56:00
  you start to see all the madness and the craziness of the
• 56:03
  traditional financial world, field world, common world,
• 56:05
  whatever you wanna call it. You start to realize like it's
• 56:08
  so simple and it's over complicated on purpose and.
• 56:15
  That's Keynesian economics in a nutshell.
• 56:17
  Guys like, it's so simple. Keep it simple.
• 56:19
  Guys huddle Bitcoin. He operates exactly like.
• 56:23
  It's so simple and and I try to explain this to everyone as much
• 56:26
  as possible as well like. Simplify your life and I I say
• 56:30
  it all the time. You know go outside, touch some
• 56:31
  grass, walk more, move your body more, eat good, hang out with
• 56:35
  good people. You know uplifting people.
• 56:38
  Maintain your relationships. Saving Bitcoin?
• 56:41
  Take that Bitcoin into self custody.
• 56:43
  These outside of Bitcoin like learn other things about the
• 56:47
  nature of reality so that you can tie it back into Bitcoin,
• 56:50
  but then also improve your own personal standing.
• 56:53
  All right, look, we, we, we said this wasn't going to be a
• 56:56
  Bitcoin conversation, Mike, but we kind of.
• 56:58
  Talked about this earlier and I think we've talked about this in
• 57:00
  the past, but the idea of when you look through the world
• 57:04
  through a Bitcoin lens and then you study other topics, you're
• 57:09
  able to connect the dot on the true nature of reality.
• 57:12
  And this is one of the most important things going on with
• 57:15
  all of you guys here. We say it all the time.
• 57:17
  Bitcoin changes you. You don't change Bitcoin once
• 57:20
  you have the Bitcoin the orange lenses on.
• 57:22
  You start to view the world differently and you realize just
• 57:25
  how overly complicated everything is.
• 57:28
  And if you simplify things back to basically like what your
• 57:31
  grandmother used to tell you, like, things become way easier.
• 57:34
  Guys like there is a lot of wisdom in your ancestors and
• 57:38
  it's all going back to the same thing you need to save.
• 57:42
  You need to, you know, not get over your skis.
• 57:45
  As Foss says, you need to audit your behavior.
• 57:48
  Don't spend more than you make, you know, exercise.
• 57:51
  Make sure your mind's clear. Make sure your body's moving.
• 57:54
  Because what? What else are we doing here,
• 57:56
  guys? Yes, money is awesome.
• 57:57
  Yes, Bitcoin is awesome. But uh, you know, as the saying
• 58:01
  goes, and I might have a pun on this one, you know, money
• 58:04
  doesn't buy you happiness. But on that note, I have never
• 58:07
  seen an unhappy person on a jet ski.
• 58:09
  So you need to have some capital guys.
• 58:13
  And don't feel bad about wanting to acquire wealth.
• 58:16
  Don't feel bad about working harder to stack more sets like
• 58:20
  this is what you need to do to get yourself out of the Fiat
• 58:23
  funk that you are in right now, and it's gonna take time.
• 58:26
  Trust the process. You need to huddle Bitcoin and
• 58:29
  and don't let people confuse you.
• 58:33
  Hoddling is using Bitcoin. OK, Hoddling is using Bitcoin.
• 58:37
  What did you say, Mike? Again?
• 58:39
  Bitcoin is hope because of its store value.
• 58:41
  You need to get out of the shithole that you're in right
• 58:45
  now because you have no capital. It's so simple.
• 58:48
  Well, and there's a kind of touching back to the
• 58:50
  conversation we had off Mike before we went live.
• 58:55
  Understanding the nature of reality.
• 58:57
  Like you have to have, you have to have a foundation or a a
• 59:02
  linchpin to base gaining or improving your understanding of
• 59:06
  everything else. It's like one of the most
• 59:08
  basics. One basic ones is just like I am
• 59:11
  right, like I am something. Like I know that I am something
• 59:14
  because I'm conscious and I'm aware.
• 59:17
  And then using the stimuli of the external world to just
• 59:20
  further kind of like improve your owner because like like
• 59:26
  we're going to get really fucking esoteric here real
• 59:28
  quick. But one of the things I like
• 59:30
  talking about with individuals that I'm training or leadership
• 59:34
  or these philosophical, esoteric, religious, like kind
• 59:37
  of conversations is that your body is literally just a
• 59:41
  mechanism for gathering data around your reality.
• 59:45
  Like pain, anxiety, depression, sadness, elation, ecstasy.
• 59:50
  Like, it's all just information relating to where you stand
• 59:54
  today, right now. And that's in in Bitcoin
• 59:59
  provides that in a very interesting relation because it
• 1:00:02
  is free of human manipulation, right?
• 1:00:06
  So you can basically use Bitcoin and pull it into yourself to
• 1:00:10
  improve your understanding of, like the societal, financial and
• 1:00:14
  economic machinations of the rest of the world externally to
• 1:00:18
  you, right. So because like I wrote a, I
• 1:00:22
  wrote an article a while back called.
• 1:00:26
  I think I titled it. A wild economic constant
• 1:00:29
  appeared and I used a picture of from those of you that are
• 1:00:33
  millennials, the old Game Boy Color Pokémon game where you
• 1:00:37
  know, a random Pokémon just pops up.
• 1:00:39
  It's like a wild whatever appears.
• 1:00:41
  The one of these really valuable aspects of Bitcoin is that it
• 1:00:45
  is, it is an economic constant because it's not a Fiat currency
• 1:00:50
  and it's not gold which we can manipulate like just like
• 1:00:53
  diamonds. It is something that's
• 1:00:55
  completely free of these human fallacies and fallibilities to
• 1:01:01
  the point of where you can judge everything against it because it
• 1:01:05
  is effectively the economic measuring stick or the economic
• 1:01:09
  for everything else. And then you can improve like
• 1:01:13
  through that you improve your understanding of where you stand
• 1:01:16
  as far as like building your wealth, what you can purchase,
• 1:01:20
  what is possible into the future.
• 1:01:22
  Because like I don't know how many of you started out being
• 1:01:25
  poor. But when you're poor and you,
• 1:01:29
  you, yeah, right. Like when you're poor and you
• 1:01:35
  are trying to get ahead but you can't store your value in the
• 1:01:40
  currency with which your economy or your nation transaction, like
• 1:01:45
  then you have to try and find something else that you can put
• 1:01:47
  it there, right. That's what Central America,
• 1:01:49
  South America, Lebanon, Turkey, like all these different part
• 1:01:53
  like Nigeria, all these different participants that are
• 1:01:55
  downstream of the Fiat printer, that's what that's why they're
• 1:01:59
  turning to Bitcoin is because it's something that you can
• 1:02:01
  actually judge the economic activity of your life against
• 1:02:08
  and it just continues to go up and to the right like it while
• 1:02:12
  they're printing to add nauseam around you.
• 1:02:15
  That's the value and that's, and that's not even talking about
• 1:02:18
  the whole Bitcoin mining and energy relationship, which is
• 1:02:20
  I've got a ramp for spaces after this.
• 1:02:24
  Let's go and and just to like put a bow tie on this.
• 1:02:28
  I've had this. I don't know it's a meme or it's
• 1:02:32
  it's an idea that I that I basically base my life off of.
• 1:02:35
  I've told you guys before I I did do philosophy in college and
• 1:02:39
  I was joking with Mike before that.
• 1:02:41
  Like I I went to philosophy thinking it would answer the
• 1:02:44
  true nature of reality only to have more questions afterwards.
• 1:02:48
  But one of the things about Bitcoin that I find the most
• 1:02:51
  interesting is that, you know, Keynesian economics, traditional
• 1:02:55
  financial world is literally the, you know, Coyote running
• 1:02:58
  off the Cliff with the Road Runner and.
• 1:03:00
  Them, like the Bitcoin moment is us looking down at our feet and
• 1:03:04
  realizing we are off the Cliff. And one of my fundamental like
• 1:03:09
  axioms of life is is if if you align yourself with nature then
• 1:03:14
  you will start to be prosperous and successful.
• 1:03:17
  And one of the biggest things that I see around, and I used to
• 1:03:20
  do it as well, is playing the ego games of, you know, like.
• 1:03:26
  Not basing though your your life off your results and being like
• 1:03:30
  Oh no, like you're wrong. This is wrong.
• 1:03:32
  You know, I know exactly how this is working and you're not
• 1:03:35
  getting the results you want, and then I.
• 1:03:38
  I found Bitcoin, I found the Bitcoin fundamentals, and I
• 1:03:41
  started to view the world through the Bitcoin lens and
• 1:03:43
  it's like, oh wow, my life has gotten better on all metrics.
• 1:03:46
  I am happier. I'm fitter, I have my finances
• 1:03:49
  in order, and it's all because I have aligned myself with a
• 1:03:53
  philosophy that translates to reality.
• 1:03:57
  And I I feel like more people need to have.
• 1:04:01
  I don't know if coming to God moment is the right, the right,
• 1:04:04
  you know, metaphor here, but you need to audit your thinking and
• 1:04:08
  your world views. And again, it's doing a classic
• 1:04:11
  Bitcoiner moment. You know the Big Short, what's
• 1:04:14
  the first quote? First scene?
• 1:04:15
  It's the Mark Twain. What hurts you isn't what you
• 1:04:19
  think you know. It isn't what you know.
• 1:04:21
  It's what you think you know but really isn't.
• 1:04:24
  And I see this happening with so many people.
• 1:04:27
  They think. You know, it's you that's wrong
• 1:04:29
  versus, you know, being honest with yourself and being like,
• 1:04:31
  oh, maybe I don't understand how the world works.
• 1:04:35
  And once you get on the Bitcoin standard and and you unlearn
• 1:04:38
  everything, you realize like, oh, OK, it was my thinking that
• 1:04:44
  was messed up and that's why I wasn't getting the results.
• 1:04:46
  And now that I have clear thinking I'm getting the results
• 1:04:48
  I want. It doesn't happen overnight, but
• 1:04:50
  it does happen. Guys just like press the process
• 1:04:53
  on that on that note like it's understanding why you think what
• 1:04:58
  you think or understanding why you believe what you believe.
• 1:05:01
  Because you like. You go back and talk to some of
• 1:05:03
  these quote UN quote economists and accountants that are like
• 1:05:08
  all about like, you know the US dollar and the Fiat currency
• 1:05:10
  system. You go back and ask them why
• 1:05:15
  they they believe in the system and why they think like the
• 1:05:17
  petrodollar works and all this other stuff.
• 1:05:19
  Like they don't know. They they don't they don't even
• 1:05:22
  understand the theology that they believe in like that that
• 1:05:28
  should scare everybody because like because like then once once
• 1:05:34
  these because like a lot of you guys that are watching now, like
• 1:05:38
  like we all came from the Fiat system.
• 1:05:40
  Like we were all born into it and then you come around and
• 1:05:44
  like when more because like it's going to wash across the rest of
• 1:05:48
  the world. It already is.
• 1:05:49
  It's going to wash across the rest of the world, but
• 1:05:51
  particularly the the developed world of like has more people
• 1:05:55
  because like, I don't know if you guys saw it, I tweeted it
• 1:05:57
  out, but Bill Burr is now going down the rabbit hole of Fiat
• 1:06:00
  currencies. I saw that.
• 1:06:02
  I didn't see the video, but I saw the tweets.
• 1:06:04
  Like the more that, like these personalities and like these
• 1:06:06
  really public figures start to look into it, They're like,
• 1:06:10
  dude, this money's bullshit. Like it doesn't actually hold
• 1:06:15
  any value or anything. It's going to, it's going to
• 1:06:19
  start rocking some worlds. And that's where, like, I think
• 1:06:24
  when it comes to the conversation around whether
• 1:06:26
  we're early in Bitcoin, that's that's not even a question.
• 1:06:30
  But it's gonna be, it's gonna be weird, guys.
• 1:06:33
  It's gonna be really weird. We're so early, so don't stop
• 1:06:38
  believing. All right, guys, let's get to
• 1:06:42
  the memes. The Daily Meme Review.
• 1:06:48
  Brought to you by Kaboom Racks. I get this question all the
• 1:06:50
  time. Nico, where should I buy Bitcoin
• 1:06:53
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• 1:06:55
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• 1:07:12
  Kaboom racks. Wow, Mike, you know, I I told
• 1:07:18
  you earlier that we probably wouldn't get philosophical.
• 1:07:21
  It's only fitting that we did get a little philosophical for a
• 1:07:23
  little unavoidable for the unavoidable for us.
• 1:07:25
  Anyways, Guys, you already know this is the main review where
• 1:07:28
  you guys send us memes on Twitter, our Twitter account,
• 1:07:32
  Simply Bitcoin TV. I usually tell you just to tag
• 1:07:35
  that one, but it's been getting pretty busy.
• 1:07:37
  So if you have a meme that you really want to make on the show,
• 1:07:40
  maybe tag my personal account optimist fields.
• 1:07:42
  Because that I I looked at our notifications yesterday.
• 1:07:45
  It was it was like I probably lost some stuff in there.
• 1:07:48
  Anyways, you can also drop memes in our telegram group T dot me
• 1:07:52
  slash simply Bitcoin. And I I pretty much look in
• 1:07:55
  there every morning as well, try to get some memes, but you guys
• 1:07:57
  just be stealing memes and dropping them in there.
• 1:07:59
  I want the tweets guys. I need to give people credit.
• 1:08:02
  OK? Anyways, 1st meme is by our boy
• 1:08:05
  Rd. under score BTC and he goes when you read every Bitcoin book
• 1:08:10
  that's ever been written and we have Neil, de Grasse, Tyson and
• 1:08:13
  uh I don't know what, I don't know what you call this what's
• 1:08:16
  the what's? That's it.
• 1:08:17
  When you go and hyperdrive, he's in hyperdrive and he goes, we
• 1:08:20
  are hitting intelligence levels that shouldn't even be possible.
• 1:08:24
  This what happens when you read like the Bitcoin standard
• 1:08:26
  principles, economics. You know, all the stuff on
• 1:08:29
  Nakamoto Institute, everything you've ever read on Bitcoin.
• 1:08:32
  You just go full Galaxy brain and your mind explodes and then
• 1:08:35
  you come back to reality at a certain point and you're like,
• 1:08:37
  oh shit, where was that? You're in the Bitcoin standard.
• 1:08:40
  Anyways, this next meme is by Sonny Ray.
• 1:08:43
  Com. And it's a play on the Matrix
• 1:08:47
  meme where Neo and Morpheus do their face off and they're
• 1:08:52
  fighting for the first time doing the karate in the Dojo.
• 1:08:55
  And we got a Bitcoin logo here and we have a bucale with the El
• 1:08:59
  Salvador flag on one side, and we have melee with the Argentina
• 1:09:01
  flag on the other side and the Bitcoin logo in the middle and
• 1:09:04
  it goes, Bitcoin is just getting started.
• 1:09:07
  Yes, guys, it is just. All the fun, the fireworks are
• 1:09:11
  about to happen. I'm convinced this next what
• 1:09:14
  next? Having it's gonna be lit.
• 1:09:16
  After the having is gonna be lit.
• 1:09:17
  Anyways, the next meme is by Satoshi Hoddle and he just goes
• 1:09:20
  Hashtag Bitcoin and of course you know me.
• 1:09:24
  Has the reigning left side of the bell curve bitcoiner on the
• 1:09:26
  show. I love bringing on the bell
• 1:09:28
  curve memes on the show and we got a left side of the bell
• 1:09:32
  curve memer which is basically me and he goes I have no idea
• 1:09:35
  what the Bitcoin price is. And then we have the right side
• 1:09:38
  of the bell curve which is probably more on Mike's side and
• 1:09:41
  he's in the robe with the laser eyes and he goes, I have no idea
• 1:09:44
  what the Bitcoin price is. And then all the midwits and the
• 1:09:47
  new bitcoiners, the pre coiners and the.
• 1:09:50
  The baby coiners out there Go bro.
• 1:09:52
  You haven't even checked the price today.
• 1:09:53
  How's that possible bro? What?
• 1:09:55
  Find bitcoins. And I I I know you guys troll me
• 1:09:58
  every day. Like Opti says he never looks at
• 1:10:00
  the Bitcoin price, but he gives us the Bitcoin price every
• 1:10:02
  single day. Yes, this is for you guys.
• 1:10:05
  I don't look at the Bitcoin price.
• 1:10:07
  You know, I only realize the Bitcoin price is either going up
• 1:10:10
  or down by all you guys freaking out on Twitter and me giving you
• 1:10:13
  the Bitcoin price as a historical timestamp for the
• 1:10:16
  show. Anyways.
• 1:10:18
  Next meme is by Bitcoin under score Aider and he goes, what is
• 1:10:21
  hashtag Bitcoin? And yeah, this one's uh, I don't
• 1:10:26
  really know how to explain it. It's like a Bitcoin, a Trifecta
• 1:10:30
  Infinity sign here. And on the left side we have
• 1:10:33
  time, in the middle we have money, which is the Bitcoin
• 1:10:35
  logo, and on the right side we have energy.
• 1:10:38
  And then it's it's this Trifecta Infinity where it's all looped
• 1:10:43
  and connected like a triangular Mobius strip.
• 1:10:47
  Exactly. I don't even know what a Mobius
• 1:10:49
  strip is, but Bitcoin is time, money and energy.
• 1:10:52
  It is all interconnected and right up Mike's Ave.
• 1:10:57
  Anyways, next one is by Walker America.
• 1:10:59
  And I I just really like the picture here.
• 1:11:02
  You know, it's got Marilyn Monroe black and white on an
• 1:11:04
  orange backdrop and says, what are you waiting for?
• 1:11:07
  Study Bitcoin. But the tweet is pretty solid as
• 1:11:10
  well. And he goes 2013 you didn't know
• 1:11:12
  about Bitcoin at $25 2015 You didn't care about Bitcoin at
• 1:11:16
  $250, 2017 You didn't understand Bitcoin at $2500, 2020, 30.
• 1:11:22
  You didn't believe in Bitcoin at $25,000 2020 Seven You almost
• 1:11:27
  bought Bitcoin at $250,000 Twenty 31 you bought Bitcoin at
• 1:11:32
  2.5 million. Take Toth next block.
• 1:11:34
  What are you waiting for? Study Bitcoin.
• 1:11:36
  Get some exposure today. This is the way time in the
• 1:11:38
  market. Beats timing the market.
• 1:11:41
  Just you. You might want to get some just
• 1:11:43
  in case it's catching on. Because it is catching on.
• 1:11:45
  OK. This next one is by I Win
• 1:11:47
  Ribenstein. Chassat to Ribenstein.
• 1:11:50
  And it's the classic, I don't even know what movie it is but
• 1:11:53
  this is what's your name is Emma Roberts.
• 1:11:55
  You know she does the O face and the girls like whispering in her
• 1:11:58
  ear and he just goes hashtag 80 IQ.
• 1:12:01
  And so the girls whispering in Emma Roberts ear and he goes, he
• 1:12:04
  huddled 6.15 million sats and got 80 IQ.
• 1:12:08
  This is the way. It's not even 6.15 Bitcoin just
• 1:12:11
  6.15 million sats. Let's go, this is the way.
• 1:12:15
  And then of course today, guys, two years ago today.
• 1:12:19
  Bitcoin became official legal tender in El Salvador, almost
• 1:12:23
  like a Bitcoin holiday. But I really like this meme here
• 1:12:25
  from Lena Sisha and she goes forever, a big day, happy
• 1:12:27
  Bitcoin day with a heart emoji. And we have the Bitcoin logo
• 1:12:31
  celebrating. It's dancing under all.
• 1:12:35
  And it has, you know, an El Salvador colored birthday hat.
• 1:12:39
  And then we have all the Bitcoin hoddlers over here and they go
• 1:12:41
  like, what? What is he celebrating?
• 1:12:43
  Like why is the Bitcoin logo so happy?
• 1:12:45
  He's dancing, you know, and doing this thing.
• 1:12:47
  And the other one goes it's legal tender.
• 1:12:49
  Day and then you can see the date.
• 1:12:51
  Here it goes, 2040. It's like, but he's legal tender
• 1:12:54
  everywhere. When will he stop making such a
• 1:12:55
  big deal out of being legal tender?
• 1:12:57
  The first time And the Bitcoin Lego goes?
• 1:13:00
  Never. Because ever beyond the map that
• 1:13:04
  El Salvador was the first country to make Bitcoin legal
• 1:13:06
  tender. Happy Bitcoin Day, as they say.
• 1:13:12
  The world would never be the same, apparently.
• 1:13:14
  Anyways, drop your meme review score in the chat over here on
• 1:13:16
  the other side of me. And we will cover them live and
• 1:13:21
  I will cover mine again. I am doubling down on my boy no
• 1:13:25
  BTC waist signs on Twitter. And I have the the BTC pins,
• 1:13:30
  Bitcoin bead logo, orange pill right here.
• 1:13:34
  It's made. I'm pretty sure it's acrylic.
• 1:13:37
  Go hit them up If you need some Bitcoin signs he will make them
• 1:13:40
  for you. OK, what is your meme review
• 1:13:43
  score, Mike? Since I'm wearing a meme score
• 1:13:47
  that I gave a couple I think last week I think it was.
• 1:13:50
  So I chimed in and said that the Simply Bitcoin shirt that I got
• 1:13:53
  at BBB was my mean score. I'm going to use my TLR One
• 1:13:59
  Streamlight Tack Light. With no battery in it.
• 1:14:05
  With no working battery. Hey you didn't need to tell them
• 1:14:09
  it's in the mail guys. It's in the mail.
• 1:14:11
  Just for just for background, I found out that my bag that I was
• 1:14:16
  keeping it in it had flicked the light and so the light was on
• 1:14:19
  for too long and now I had to order batteries.
• 1:14:22
  So if you don't want to fall to the Fiat machine, manage your
• 1:14:25
  equipment properly. Not like I did because the
• 1:14:28
  Streamlight batteries are like $20 per pack and that was
• 1:14:31
  painful. Switch it off.
• 1:14:33
  TLDR switch it off. Anyways, I see some meme review
• 1:14:37
  scores in the chat, but before I go, he mentioned the simply
• 1:14:40
  Bitcoin merch hit the QR code. Right.
• 1:14:42
  Wait, right. Wait.
• 1:14:45
  Right there, right there. And get yourself some simply
• 1:14:48
  Bitcoin theme merch. Right now we have some T-shirts,
• 1:14:50
  we have them orange hoodies, which is becoming my favorite
• 1:14:53
  hoodie and you know, support the boys.
• 1:14:55
  We will be getting you guys some new merch soon.
• 1:14:59
  We've been telling you, I know you guys have been hitting me up
• 1:15:01
  about hats. I will get the hats printed
• 1:15:03
  again for you guys and we are in the process of talking.
• 1:15:07
  With some Bitcoin artists to get some limited edition simply
• 1:15:11
  Bitcoin collapse. We don't know what they're gonna
• 1:15:14
  be yet, but we will figure some cool stuff out for you guys.
• 1:15:17
  Matt, you chill, chill in the chat.
• 1:15:19
  I'm working on getting some Bitcoin veterans merch set up.
• 1:15:22
  So. Those of you there, those of you
• 1:15:24
  that are also listening, will like that'll be happening.
• 1:15:27
  I haven't got my own yet because I want to get this figured out
• 1:15:31
  first. Welcome to Getting badgered
• 1:15:32
  about the merch, bro. This is part of the fun OK 1st
• 1:15:37
  Meme Score Meme Review score is by Narwhal Tacos and he goes
• 1:15:43
  Meme Score None. I consider all those memes to be
• 1:15:46
  Perry Pursue. OK, let's see UTXO.
• 1:15:52
  My meme review score is a cross cap.
• 1:15:56
  I don't know. What.
• 1:15:57
  I don't know what that is. Opties Mile High Club.
• 1:16:00
  I'm not going to read your score, bro.
• 1:16:02
  Sorry. Do another one before I finish.
• 1:16:04
  OK, next meme review score is by Canada.
• 1:16:09
  Canada. Yeah, Canada.
• 1:16:11
  I believe meme score a Mexican billionaire crying.
• 1:16:14
  Yes, this is the way. OK, next meme review scores by
• 1:16:18
  Eagle and he goes, I give those memes all the use cases and a
• 1:16:23
  .001 of a jet ski. Yes, jet skis are fungible and
• 1:16:27
  and visible. Oh wait no Kim.
• 1:16:30
  Sorry dude, no, I can't put this on the show.
• 1:16:33
  I can't put this on the show. OK, BTC is true.
• 1:16:36
  Meme score in action is in action.
• 1:16:39
  Let's go. OK, let's see if I it wasn't
• 1:16:45
  that you ran out of scores. It's at the buzzer game.
• 1:16:48
  OK guys. Anyways, Mike, thanks for coming
• 1:16:52
  on today. We, I think we did some some
• 1:16:56
  very good rants on today's show. But what are you working on?
• 1:16:58
  Where you at? What's what's your latest
• 1:17:00
  project? Oh wait, actually, I gotta do
• 1:17:03
  this. Score Mean Score 4 Logos The the
• 1:17:05
  original formula for four logos. Oh man, you did gents.
• 1:17:10
  Blackout in a tall boy for $5. Oh, man.
• 1:17:15
  All right, Mike, what are you working on?
• 1:17:17
  What do you want to direct the people towards?
• 1:17:20
  We'll bring you back on soon. Appreciate it.
• 1:17:22
  As you guys know, I have a DD out the ass, so I've been
• 1:17:26
  working on actually putting together one or two books.
• 1:17:30
  I've been working with a couple Bitcoin groups, working on
• 1:17:35
  pushing the signal into some federal agencies.
• 1:17:40
  I'm helping a friend. Well, I'm not even helping a
• 1:17:43
  friend, but I know a friend is writing an article that I think
• 1:17:47
  a lot of you guys will be very interested in.
• 1:17:51
  I don't know how that will be published, but when it gets out
• 1:17:54
  I will definitely circulate it to all of you because you guys
• 1:17:57
  will definitely like what's going to be said there.
• 1:18:02
  Obviously writing for my own stuff, but like as you guys have
• 1:18:05
  maybe have noticed if you're subscribed to simply which you
• 1:18:08
  should be and if you're subscribed to my sub stack.
• 1:18:10
  I have not had a presence in these avenues lately because I
• 1:18:14
  am doing so much on the external and behind the scenes.
• 1:18:19
  And then obviously like I mentioned like you probably guys
• 1:18:21
  probably mentioned are picked up when I mentioned it to Matt.
• 1:18:25
  We're working on getting merch set up for Bitcoin veterans
• 1:18:28
  which will take a little bit because you have to have a bank
• 1:18:31
  account believe it or not in order to have a business.
• 1:18:35
  And then also working on potentially providing some
• 1:18:40
  security help and services for Bitcoin conferences going
• 1:18:43
  forward through the Bitcoin Veterans group.
• 1:18:46
  So if you're a bit, if you are a veteran and you're in the
• 1:18:48
  Bitcoin space and you're listening and you're not part of
• 1:18:50
  our group chat, reach out to either me or the Bitcoin
• 1:18:54
  veterans handle like send us a DM that you want to be a part of
• 1:18:57
  it and we'll we'll get you into the to the group chat for sure.
• 1:19:01
  Let's go. Well, awesome, bro.
• 1:19:04
  Thanks for coming on. Pop in the spaces and we'll
• 1:19:06
  continue this conversation and get your unfiltered rants over
• 1:19:10
  there. Anyways, guys, appreciate you.
• 1:19:14
  We will be back with our normal program tomorrow.
• 1:19:16
  It is Friday. But on that note, rest of the
• 1:19:20
  day guys, you know like share, subscribe.
• 1:19:22
  We appreciate all the support, but spread all the Bitcoin
• 1:19:25
  signal. Our duty is to try to wake up as
• 1:19:27
  many people as possible, get as many Sats as possible in
• 1:19:30
  people's hands, getting people downloading wallets, That's all
• 1:19:33
  that really matters. And on that note guys, we will
• 1:19:36
  see you in Twitter spaces. Peace out guys.
• 1:19:52
  What's up? OK, all right.
• 1:19:53
  It's a little clunkier when I'm doing all the production, but
• 1:19:57
  here we are, guys, we are back in Twitter Spaces.
• 1:19:59
  So one second, let me make sure these streams are caught up and
• 1:20:03
  they're done, and then we will continue this combo.
• 1:20:08
  OK, sweet.