Latest / Simply Bitcoin / $850B Bank: ''Bitcoin WILL STILL Hit $500k Before Trump Leaves Office...'' | EP 1193

Transcript

$850B Bank: ''Bitcoin WILL STILL Hit $500k Before Trump Leaves Office...'' | EP 1193 · Simply Bitcoin

• 0:00
  As everyone is freaking out about Bitcoin crash into 80 K,
• 0:04
  an $850 billion bank just went on national news and doubled
• 0:09
  down on their 2028 Bitcoin price predictions.
• 0:13
  Why are these violent 30% corrections not scaring these
• 0:17
  massive trillion dollar banks who are historically afraid of
• 0:22
  volatility? What are they seeing?
• 0:24
  Do they know something about Bitcoin that you don't?
• 0:27
  Well, we're going to show you and hopefully make sure that you
• 0:32
  aren't getting scared out of out of your position.
• 0:34
  So let's play the clip of Jeff Kendrick, head of digital assets
• 0:37
  at Standard Charter, hinting at Bitcoins inevitable path to
• 0:41
  dominating the global macroeconomic landscape.
• 0:45
  Hopefully we get some regulatory clarity in the US too, and that
• 0:48
  can see again a lot more traditional players entering the
• 0:51
  market. Probably that will see
• 0:53
  volatility come lower and again that should add to that medium
• 0:56
  term top side potential, which for me is Bitcoin up to 200,000
• 1:01
  this year and five. So you'd love to see these huge,
• 1:08
  huge institutions still being extremely bullish on Bitcoin
• 1:11
  even in the face of a this you know what?
• 1:14
  I forget what the number is where like a 25% correction
• 1:17
  right now. Anyways, as you guys can tell,
• 1:19
  I'm in the hosting chair today, but I'm here with my friend
• 1:22
  Chris Salamo, everyone's favorite friendly neighbor next
• 1:26
  door Bitcoiner Chris. So thanks for showing up with
• 1:28
  us, Chris. We got a lot to cover, so I'm
• 1:30
  going to jump right into it. All right, so guys, I'm sure
• 1:33
  you're watching this clip and I saw you guys in the telegram
• 1:36
  being like man, bitcoins correcting, we're at 80 K.
• 1:39
  Can you guys stop giving me these incredibly bullish
• 1:42
  prediction? Well, guys, it's never going to
• 1:45
  stop. We all know the meme.
• 1:47
  It's going up forever. And if you're new to Bitcoin, if
• 1:50
  you're starting to feel this fatigue here because the price
• 1:52
  isn't doing what you think it was, maybe you're new.
• 1:55
  Maybe you're all in, you're stacking and you're like, I have
• 1:57
  no more Fiat. To.
• 1:59
  Stack Bitcoin just know guys, we will be your entertainment
• 2:04
  through the separation of money and state and hopefully you're
• 2:07
  came in all the way up until 1,000,000 plus dollar Bitcoin.
• 2:09
  But for the new people guys, this is totally normal for bull
• 2:13
  markets. Corrections in the bull market
• 2:15
  is 100% completely normal. The Bitcoin price doesn't just
• 2:20
  go straight up into the moon forever like the meme edit show
• 2:23
  you. There is always corrections in
• 2:24
  the bull market and of course we have Adam back here and he just
• 2:27
  goes dips are normal in Bitcoin bull market zoom out people have
• 2:30
  short term memories. We always get impatient.
• 2:32
  We always want to see the Bitcoin price run and here we
• 2:35
  have Matthew Matthew Siegel of Vanek you know with the hat I, I
• 2:38
  didn't, I didn't plan that one, but here he goes list of Bitcoin
• 2:41
  corrections in the run up to 20 K in 2017 with a 9041% negative
• 2:46
  38 percent -29% negative 34 negative 41, negative 40 and
• 2:51
  -20% and then the same thing. The list of Bitcoin corrections
• 2:55
  to the run up to 69 K in 20/21, negative 21, negative 17,
• 3:00
  negative 30, negative 26, negative 55%.
• 3:03
  And of course, another -25% so, you know, we're loosely
• 3:08
  historically on path to see an incredible price run.
• 3:11
  Do we know where this is going? As we saw Jeff Kendrick say,
• 3:15
  he's still thinking that by 2028, by the time that Trump
• 3:19
  gets out of office, we will see 500K.
• 3:22
  I've been loosely saying for a while that, you know, 200 to 300
• 3:25
  K top this year still seems in play.
• 3:28
  I know right now it's kind of hard to think about those prices
• 3:31
  when we see this basically Bitcoin price fall off a Cliff
• 3:35
  here. I think, Chris, maybe you can
• 3:36
  Fact Check as I go through some of this, these numbers here,
• 3:39
  we're at like what a 20 something percent correction.
• 3:42
  So moving forward, we have VJ. If you don't know VJ, he's been
• 3:46
  a Bitcoin for a long time, write some of the best papers in
• 3:49
  Bitcoin and he's kind of breaking this down what we're
• 3:52
  seeing. So even though the media is
• 3:54
  hyperventilating about Bitcoins corrections and many are
• 3:57
  suggesting that the Bitcoin top is in, it's not.
• 4:00
  This correction is fairly run-of-the-mill.
• 4:02
  Now moving forward, he's kind of talking about past corrections.
• 4:05
  You see the largest drop during the sideways chop as we were
• 4:08
  talking about from 7073 K to 53 K, about a 20% drawdown at this
• 4:13
  time seemed brutal. But for those who've experienced
• 4:15
  prior cycles, this was a fairly standard correction.
• 4:18
  And the sideways grind, as you guys are probably aware, ended
• 4:22
  as we approach President Trump being elected.
• 4:25
  And once again, sentiment became extremely bullish.
• 4:28
  We all get caught up in the price once we hit 109 K.
• 4:32
  And of course, we've corrected and now we're all like, man,
• 4:35
  it's over, pack it up. So again, the enthusiasm was cut
• 4:39
  short. As you know, you know,
• 4:40
  everyone's been talking about, oh, first Bitcoin president in
• 4:43
  the US, more like first shit coin president in the US.
• 4:46
  Where is this 150 K? We've been, we've been
• 4:48
  supposedly promised by Donald Trump.
• 4:51
  It's not here yet, but I don't think it's over, guys.
• 4:53
  We're still in early innings of 2025 and here we go.
• 4:57
  Although Bitcoin's prior cycles had more of a parabolic shape
• 5:00
  with a blow off top, it may be the case that the shape of
• 5:02
  Bitcoin when cycles are changing and this would not be surprising
• 5:05
  given the size and scale of the capital now entering the market.
• 5:09
  This is something we've been saying for a while.
• 5:10
  It may be that the cycles are changing.
• 5:14
  We may be in a different era, a Bitcoin price appreciation.
• 5:18
  Maybe as we've been saying, this cycle is different, but we won't
• 5:22
  know until we get to the end of the year. 2020 is hindsight, but
• 5:25
  until then, obviously keep stacking, keep taking it into
• 5:29
  cold storage, make sure you can pay your your bills and stuff.
• 5:32
  Me and Chris were just joking about about that before.
• 5:33
  The show make sure you can pay your bills, but keep.
• 5:35
  Stacking and just to wrap up this segment, it is entirely
• 5:38
  possible that we are in for many more months of painful ups and
• 5:42
  downs without any meaningful move upward.
• 5:44
  However, the fundamental shift in the political landscape
• 5:47
  should absolutely not be underestimated.
• 5:49
  For its entire history, Bitcoin has faced political headwinds.
• 5:53
  And now Bitcoin with the efforts of the basically the whole
• 5:56
  political machinery and of course the global economic
• 5:59
  machinery behind it, I think we can safely say that that this is
• 6:03
  not the top of Bitcoin. This is a very normal correction
• 6:06
  and kind of showing you a little more data of this.
• 6:10
  We got this news this morning that as you as the Anon, as the
• 6:14
  newbie Bitcoiner may have panic sold your Bitcoin, BlackRock is
• 6:18
  making even bigger moves in Bitcoin.
• 6:20
  And they just added its Bitcoin ETF, the IBIP to its model
• 6:24
  portfolio for the first time. And they're allocating 1 to 2%
• 6:28
  of this model portfolio into the Bitcoin ETF's.
• 6:31
  So if you're panic selling, really you need to, you know,
• 6:35
  take a chill pill, don't sell your Bitcoin.
• 6:38
  Understand what you're holding. Now is not the time to be
• 6:41
  selling your Bitcoin because you're essentially selling it to
• 6:43
  BlackRock, to Michael Saylor, to all these institutions now kind
• 6:46
  of getting their feet into the game.
• 6:49
  And right now, I think it's a very healthy correction in the
• 6:53
  entire markets. And so things are going real, I
• 6:57
  would say. Anyways, guys, Chris.
• 7:01
  What's your thoughts on this? Is the bull run over?
• 7:03
  Are we being stupidly bullish and saying that Bitcoin is still
• 7:07
  going to go back up into the six figures?
• 7:10
  Is this a healthy correction? What's your thoughts on this?
• 7:12
  It's always a healthy correction.
• 7:14
  I was literally talking to my mom and to my wife and they're
• 7:16
  like, oh, so bitcoins down like 20 percent, 25%.
• 7:19
  I'm like, Oh no, it's an opportunity to buy the dip.
• 7:22
  You know what I mean? You can stack cheaper sats your
• 7:24
  dollars, buy more of the hardest, soundest money in the
• 7:27
  world. So always an opportunity as Adam
• 7:30
  Back showed, and there's many charts over the years showing
• 7:33
  that the corrections of all the bull markets they've had the
• 7:35
  corrections in 2013, 20/17/2021 as they rise to their all time
• 7:39
  new time, all time highs. So just an opportunity.
• 7:43
  And Yep, I think there's just stay humble and stack sats and
• 7:47
  it's always great to stack some cheaper sats as well.
• 7:49
  Yeah, well, really cheap, sad things are on.
• 7:52
  Things are definitely on sale. Now, Chris, I do want to ask
• 7:55
  you, what's your thoughts on this BlackRock, you know,
• 7:58
  getting more exposure, finding new avenues to get liquidity
• 8:02
  into the market. I think this is a big signal,
• 8:04
  even though actually maybe I'll pull it up.
• 8:06
  We did see one of the biggest outflows of ETF yesterday in all
• 8:12
  of the ETFs. So as we've kind of been joking,
• 8:15
  maybe the Bitcoin tourists are out, maybe the boomer actually
• 8:18
  me, me and Chris were joking about we weren't hating on any
• 8:21
  Bitcoin boomers out there. And I I don't want to doxy we're
• 8:24
  talking about, but it does seem like we have a new breed of, you
• 8:28
  know, older people coming into the space.
• 8:29
  They seem to be learning about Bitcoin.
• 8:32
  But I think it's interesting that as we saw the Bitcoin price
• 8:35
  dump yesterday, we saw one of the biggest outflows into ETF.
• 8:38
  So as we've been saying for a long time, people still don't
• 8:41
  really understand and what Bitcoin is.
• 8:43
  And I know people are kind of trolling us yesterday, or I
• 8:45
  think it was, no, it was on Tuesday, I think it was when the
• 8:48
  price was, was dumping. And they're like, yo, these guys
• 8:51
  are talking about 500 K Bitcoin and bitcoins dumping to 80 K
• 8:54
  lol. And it's like it just, it's,
• 8:56
  this is just how the game's working.
• 8:58
  And I think a lot of people that are, are getting ETF exposure
• 9:02
  don't really understand what Bitcoin is.
• 9:03
  And if they see the price dump, obviously they're going to sell
• 9:06
  those ETFs, but it's going to show that the the, and I hate
• 9:09
  using this, the smart money, you know, the suits in the game,
• 9:13
  they want as much Bitcoin as possible.
• 9:15
  So they understand what's going on.
• 9:16
  And if you're selling right now, I really don't know what you're
• 9:20
  doing. It makes no sense to me.
• 9:22
  Obviously, us Bitcoin Maxis here were 100% all in on Bitcoin.
• 9:26
  We're never going back to Fiat money and we're trying to
• 9:28
  acquire as much Bitcoin as possible.
• 9:30
  But it's interesting that there still is seemingly an
• 9:34
  informational asymmetric arbitrage here.
• 9:37
  So Chris, what's your thoughts on that BlackRock allocating
• 9:40
  more of their important portfolio into Bitcoin,
• 9:43
  Obviously just one to 2%, but I think that's a huge indicator of
• 9:46
  what's to come. Yeah, I think financial markets
• 9:49
  show like success begets success, meaning that, you know,
• 9:53
  they had one of the most successful, if not the most
• 9:55
  successful ETF launch in history.
• 9:58
  I don't think BlackRock and many of the other financial
• 10:00
  institutions on Wall Street were expecting that.
• 10:02
  I mean, they had literally trillions of dollars in flowing
• 10:05
  to that over the course of 2024. Obviously they went live I
• 10:08
  believe in like January 15th, 18th of 2020 and basically we
• 10:13
  have a year of data now or over a year of data now and they just
• 10:16
  saw how successful it was. You know, obviously there was
• 10:19
  competition like trending to 0, like BlackRock, Arc, Fidelity,
• 10:23
  they were all competing and trying to bid the APR or the the
• 10:28
  expense ratio on all of those lower to try and get the
• 10:31
  inflows. Obviously it seems like
• 10:32
  BlackRock is the main winner, obviously being the largest of
• 10:36
  all of the financial institutions in terms of having
• 10:39
  Bitcoin in their ETF product themselves.
• 10:42
  I also want to say like at the beginning of the year, we are
• 10:44
  basically like Bitcoin fell like it basically at the end of the
• 10:47
  year. We hit like a / 100 very briefly
• 10:50
  in December of last year and then we kind of retraced back
• 10:53
  down to like the mid 90s, like 90K ish 92K.
• 10:58
  But then the new year starts and the way the financial
• 11:00
  institutions work, obviously they're trying to do best year
• 11:03
  over year returns. So you know, they were kind of
• 11:05
  around that 95K mark and then we kind of shot up to the all time
• 11:09
  high of one O 9, a $109,000 per Bitcoin.
• 11:12
  And basically it seems that like it kind of chopped sideways for
• 11:15
  a few days and kind of slowly started to begin dip to dip.
• 11:18
  I think what happens, and this is just speculation here, you
• 11:21
  know, I think a lot of times these financial institutions, if
• 11:25
  they can lock in gains, you know, they basically if you
• 11:27
  bought on January 1 and then rode that up to the all time
• 11:30
  high and then sold or like hedged your position, you
• 11:32
  basically can have a year's worth of returns.
• 11:34
  If you think the stock market, the S&P average is about 11% a
• 11:38
  year. I know in the last couple years
• 11:39
  with all this money printing, we've seen much greater returns
• 11:42
  than that and obviously Bitcoin has benefited from that as well.
• 11:44
  But like they basically if you bought in on January 1 and then
• 11:48
  sold by like middle to end of January at like the all time
• 11:50
  highs, you locked in a 13% game for the year, 12 1/2 percent
• 11:53
  basically. So I think a lot of financial
• 11:55
  institutions, that's very appealing to them, like, hey,
• 11:58
  like our benchmark is to try and beat 11%.
• 12:00
  If we can lock in the gains, you know, and then use that money to
• 12:03
  reallocate or diversify or diversify as us bitcoiners would
• 12:06
  say, that's something that they could take advantage of.
• 12:08
  And you know, while at the same time pushing the narrative of
• 12:11
  pushing more of the retail or even just a lot of their
• 12:14
  investors into the ETF product while hedging themselves.
• 12:17
  You know, you know, hey, maybe a money manager or money portfolio
• 12:20
  active manager might be selling out of the ETF to lock in their
• 12:23
  gains, but that doesn't mean that the institution itself
• 12:25
  that's offering the product says, hey, this is a great time
• 12:28
  to buy by the dip. You know, part of the education
• 12:30
  and kind of just echoing the model that we've been saying,
• 12:32
  because obviously it's been a very, very profitable trade
• 12:35
  offering ETS. Obviously, as Nico Opti and
• 12:38
  myself would say, ETFs are a way to get exposure to the price of
• 12:41
  Bitcoin. But as we've seen, as history
• 12:44
  has repeated itself, you know, it doesn't always, not always
• 12:47
  the same, but it rhymes history that like when you own an ETF,
• 12:50
  you own an IOU on that Bitcoin. You do not own the Bitcoin
• 12:53
  itself. You do not have it in self
• 12:55
  custody as of right now. I know there's been talks to try
• 12:57
  and get it into self custody by doing in kind redemption,
• 13:00
  meaning be able to redeem your shares for Bitcoin that you send
• 13:03
  to your hardware wallet, but that is not the case today.
• 13:06
  So I do think as of right now that, you know, owning the ETF,
• 13:11
  know the risk, the risk that come with that, like you're
• 13:13
  owning an IOU, Opti, Niko. And I would say it's much better
• 13:16
  to have Bitcoin in your own self custody because it's something
• 13:19
  that you can control. It's something that no one can
• 13:20
  stop you from using. It's something that you know is
• 13:23
  under your purview and there's a way that you have to protect it.
• 13:25
  Obviously there's more responsibility that comes with
• 13:27
  that, but not your keys and not your cheese, as the saying goes.
• 13:31
  Love it, love it. Wait, Chris, sorry little story
• 13:34
  time here. I know you're here for all the
• 13:36
  different news we have. We have a jam packed show for
• 13:38
  you guys today. We have a, you know, if you're,
• 13:39
  if you're on the sidelines, you're a little scared.
• 13:41
  We got a great Jack Muller's clip to hype you up.
• 13:44
  And then we're going to kind of breakdown what came out of the
• 13:46
  first digital assets committee and some recent SEC news.
• 13:50
  It's honestly, it's a dumpster fire.
• 13:52
  I'm going to be completely honest with you here.
• 13:54
  And then of course, we're going to talk about proof of
• 13:56
  workforce. But before we do that, Chris,
• 13:58
  you were reminding me, you were saying the institutional
• 14:00
  managers, you know, trying to lock in that 16%.
• 14:03
  And it reminded me of my first, literally my first buy in my
• 14:07
  first buy, the first buy about $100 and the Bitcoin price like
• 14:11
  instantly dumped. As it always happens when you
• 14:14
  buy Bitcoin, it dumps on you. It's just like if I'm buying,
• 14:17
  you know, the price is going to be lower.
• 14:18
  But I remember I bought my first $100.
• 14:20
  It dumped down. I, I forget what it was, but it,
• 14:23
  it was like $100 went down to $95.
• 14:25
  And then that $100 instantly or like a couple days later
• 14:29
  rebounded. It went up to $110 And I was
• 14:32
  like, I'm the best trader ever. I'm going to log into 10% like
• 14:36
  I'm a genius. And then the price still kept
• 14:39
  running after that, and I instantly had to buy some more
• 14:42
  Bitcoin. So as you can tell, I'm guessing
• 14:45
  the institutional managers, all these people, they're kind of
• 14:47
  thinking that same Fiat perspective where it's like, let
• 14:50
  me lock in the 16% gain because I literally did the same thing
• 14:54
  years ago. And you just reminded me of that
• 14:56
  story. I I completely forgot about that
• 14:58
  story. But yeah, I think we all go
• 15:00
  through this. It's that's actually hilarious.
• 15:02
  They're just like feet up on the desk, like I've succeeded.
• 15:05
  I'm the greatest like smoking a cigar and drinking whiskey or a
• 15:08
  Scott like January like. And obviously, you know, I think
• 15:12
  in the long term, we'll see that the price runs away from them.
• 15:14
  And then they're like, shit, Like I left so much money on the
• 15:17
  table that I could have had. Yeah, exactly.
• 15:19
  So that's so funny. I I haven't thought about that
• 15:21
  story forever. Anyways, anyways, let's get into
• 15:24
  the rest of the show. But of course, guys, if you
• 15:27
  still have Fiat on the sideline, make.
• 15:29
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• 15:32
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• 15:54
  Fiat, I don't know why you would have Fiat on the sideline, but
• 15:56
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• 16:03
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  generational wealth on that one. All right guys, so we got a we
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  got a big show for you guys. If you love this show, you want
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  to support us, make sure you comment on this like on the
• 16:51
  show. And of course subscribe because
• 16:53
  we go live Monday through Friday and we have content for you guys
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  Well, it looks like the chat is just like I am and they have no
• 18:49
  dry powder less to buy this dip. So hey, if you have dry powder
• 18:53
  in on the sidelines, it just means one thing you are not all
• 18:56
  in on Bitcoin. What are you doing smash by all
• 18:59
  of your remaining Fiat Anyways, we're over here on Clark Moody's
• 19:02
  dashboard and the current Bitcoin coin price $83,670.
• 19:07
  Guys, it's so over. Wrap it up.
• 19:09
  This show's done Bitcoin price is over.
• 19:12
  There's there's no more hope for us.
• 19:14
  It's a complete wrap Now obviously I'm joking and the
• 19:17
  stats per dollar, AKA how much Bitcoin you can buy for a single
• 19:19
  dollar AKA how much the US dollar shit coin is worth in
• 19:23
  Bitcoin is currently at 1195 stats per dollar.
• 19:28
  The current block height TikTok next block.
• 19:29
  Basically the most important number here.
• 19:31
  Is the block height that Bitcoin is.
• 19:33
  Running it's working new blocks are coming in it's currently at
• 19:37
  885,752 the market cap in Fiat IOU tokens is 1.66 trillion the
• 19:45
  Bitcoin versus golden market cap is at 8.33% remember when we
• 19:49
  were at 10% we were so high yeah that was fun that was that was a
• 19:52
  good week or two anyways the total percentage issued of
• 19:55
  Bitcoin that will ever be circulating is currently at
• 19:58
  94.43% roughly 19.8 million Bitcoin in circulation and the
• 20:03
  real. Monetary inflation, as we like
• 20:05
  to say, taking Fiat currencies to school, it's currently at
• 20:08
  .96%. This is the hardest money
• 20:11
  period. It's it's this is the best or
• 20:13
  value period guys, this, this number, if you don't know what
• 20:16
  this number means, it means this is the only thing you can save
• 20:20
  in because everything else is stealing from you.
• 20:22
  All right, guys. So as I was saying, you know,
• 20:25
  today's one of those days. Rather, this week is one of
• 20:28
  those weeks where, yes, you do have to kind of psyop yourself,
• 20:32
  brainwash yourself and remind yourself why you own Bitcoin,
• 20:36
  why you're in Bitcoin. This is when your stripes are
• 20:40
  earned. This is when you build that
• 20:42
  conviction. This is when everyone starts
• 20:44
  laughing at you, calls you an idiot, like, Oh my God, your
• 20:47
  price predictions are pure opium.
• 20:49
  And you're like, no, you just don't understand what Bitcoin
• 20:51
  is. And when you see clips like Jack
• 20:53
  Mahler's continue to spread that signal, you got to bring it on
• 20:56
  the show because I'm sure some people out there tuning in and
• 20:59
  they're like, man, I'm feeling wrecked.
• 21:01
  I'm feeling worn out. When is the price going to go
• 21:03
  up? Well, let's just get a little
• 21:05
  hype man from Jack Mahler's himself.
• 21:07
  Either wear you out or scare you out.
• 21:10
  OK, wear you out meaning what it's doing now.
• 21:13
  Exhaust you, tempt you with mean coins with Trump coin, make you
• 21:19
  go up then down and up then down and up then down.
• 21:22
  You're like, man, I thought this Jack guy said we were going to
• 21:24
  the moon. We have a lift on.
• 21:26
  I thought Bitcoin was going to fix the money, fix the world.
• 21:29
  I thought holding sacks and staying humble was going to
• 21:32
  solve all my problems. And it's going to exhaust you.
• 21:34
  It's going to wear you out and wear you down or it's going to
• 21:38
  scare you out. Sometimes this market will just
• 21:41
  take the seat right from under you.
• 21:42
  You ever been on those giant drop rides where they bring you
• 21:46
  up and then just whoosh and they just drop you down?
• 21:49
  You feel that gut wrenching fear in your stomach.
• 21:53
  That's what markets will do as well.
• 21:56
  Bitcoin will trade 25% down in one day and it'll scare you out.
• 22:00
  Like screw it, I'm out of this market.
• 22:02
  I don't fucking understand Bitcoin.
• 22:03
  At all. I don't trust these Bitcoin
• 22:05
  influencers. I don't trust the Bitcoin
• 22:07
  standard. St.
• 22:07
  Vanina Moose. These fucking guys are fucking
• 22:10
  cuckoo. So where you out or scare you
• 22:12
  out? And that's where we are.
• 22:15
  We're being worn out right now. I wouldn't be surprised if this
• 22:19
  market tried to scare you out as well.
• 22:21
  Is a, is a drop to 80 K impossible?
• 22:24
  No, not at all. I preach patience.
• 22:29
  I preach conviction. I'm an advocate of the trend.
• 22:32
  I'm an advocate of the fundamentals.
• 22:33
  I'm an advocate of math, of cryptography.
• 22:36
  Trading This market no bueno. You will get scared out.
• 22:40
  You will get worn out. And I'm telling you, I've been
• 22:42
  telling you since Thanksgiving, there's going to be a lot of
• 22:45
  volatility in the near term. This market's not going to run
• 22:48
  away yet. It's also not going to zero.
• 22:50
  We know that it's going to chop and chop and chop and chop and
• 22:54
  chop. So another week goes by.
• 22:57
  I've got relatively the same update.
• 23:00
  Stay focused, work hard, earn more than you spend.
• 23:05
  Stack sacks. Stay humble.
• 23:10
  This is what we're talking about, guys.
• 23:12
  This is what we always tell you every single day.
• 23:15
  As much as it's kind of our jobs here on Simply Bitcoin to cover
• 23:20
  the current news, which obviously revolves around the
• 23:22
  price of Bitcoin, it's now currently being revolved around
• 23:26
  stuff going on in politics. We all know what's really going
• 23:30
  on here. If you have studied Bitcoin and
• 23:32
  the price is a distraction at times yes, as the saying goes,
• 23:36
  you know, people come for the games, but they stay to fix the
• 23:39
  money. We all know how the Bitcoin
• 23:41
  cycles play out. When the price starts pumping,
• 23:43
  people get drawn into the space because of course they get
• 23:46
  caught up in this get rich quick scheme.
• 23:48
  But once they start to understand what Bitcoin is,
• 23:51
  you're, you're, you know, operating system starts to
• 23:54
  change and you start to realize, wait, there's something more
• 23:56
  here. And, and this very simple advice
• 23:59
  that Jack Mahler's constantly is preaching, we're constantly
• 24:02
  preaching the same thing here on the show is literally guys, all
• 24:04
  you have to do is work hard, live below your means, make sure
• 24:08
  that some of your excess, if you have access, you should have
• 24:11
  some access here from your paycheck is going into Bitcoin.
• 24:15
  Take that into cold storage and you just repeat the process.
• 24:18
  As a lot of people will tell you, you know, persistent and
• 24:21
  very boring systems are what gets you across the finish line.
• 24:25
  So yes, this isn't a glorious time in the Bitcoin coin space.
• 24:28
  Yes, you're being tested. All of us old school Bitcoiners.
• 24:31
  It even hurts for us seeing some, you know, 25% haircuts on
• 24:35
  our Bitcoin, you know, purchasing power.
• 24:38
  But we all have been through these cycles.
• 24:40
  So if you are kind of one of these people that are getting
• 24:43
  worn down, you're getting tired, you're starting to see the price
• 24:46
  volatility and maybe you're, you know, getting a little just
• 24:49
  getting starting to feel that fear in the pit of your stomach.
• 24:52
  Now is the time where you maybe want to go outside, you know,
• 24:55
  log off the Internet, just continue to the stack.
• 24:58
  Sats will be here for you guys when you come back and you need
• 25:01
  some more Bitcoin fill. But right now is the time to
• 25:03
  literally just double down on the basics.
• 25:05
  If you understand Bitcoin, you just need to continue to buy
• 25:08
  Bitcoin, take it in the cold storage, repeat this process, go
• 25:12
  outside, make sure you make sure you get some mental clarity out
• 25:15
  there, But I absolutely love this message from Jack Mahler's.
• 25:18
  This is why I brought it on today because it's a very
• 25:20
  fitting day going into the weekend.
• 25:21
  Of course, the price is dumping. People are like, how could they
• 25:24
  predict, you know, 6 figure plus mid, you know, almost half, 7
• 25:29
  million, half, 7 figure price predictions on Bitcoin.
• 25:33
  It's like we know where it's going, but in the short time,
• 25:36
  short term preference, it's like we, you know, it's volatile.
• 25:39
  We all know it's volatile in the sense that, hey, this is the
• 25:42
  Fiat markets, this is the traditional financial world
• 25:45
  basically reacting to a hard cap, limited money here, you
• 25:49
  know, something that cannot be debased.
• 25:51
  So it's not so much that Bitcoin price is volatile, it's that the
• 25:54
  world is volatile. So just buckle up.
• 25:56
  You know, you're earning your stripes.
• 25:57
  If you've been here for a while, like I see in the chat,
• 26:00
  everyone's like, man, this is fun.
• 26:01
  How can I be having so much fun when the Bitcoin price is
• 26:04
  dumping? As we covered in the beginning,
• 26:06
  this is very normal. I'm sure we're still going to
• 26:09
  see some price ripping. So shouts out to Jack Mahlers
• 26:11
  and shouts out to whoever edited that was a great edit.
• 26:14
  And that that's, I think one of those edits that you need to
• 26:16
  hear right now in the face of all the doom and gloom and
• 26:19
  uncertainty and the price crashing on us, this is what
• 26:23
  we're here for. We're, we're basically just
• 26:24
  moral support. This is like an, a, a group,
• 26:26
  guys. You know, we're here for
• 26:27
  entertainment. We're here to keep you updated
• 26:29
  on the news. But it's also like, guys, you're
• 26:31
  going to be all right. Just stack stats or have fun
• 26:34
  staying poor. Anyways, Chris, you've been here
• 26:38
  for a minute. What's your thoughts on this?
• 26:40
  You've seen a couple dumps. Is this normal?
• 26:43
  And what's your thoughts on that edit man?
• 26:45
  Great edit, by the way. I don't know whoever on Jack's
• 26:47
  team edited it, but was great edit with Dave Portnoy in there.
• 26:51
  The rocket ship going to the moon.
• 26:53
  No, I think it's times like these it's great to, you know,
• 26:56
  misery loves company or you know, maybe joy loves company as
• 26:59
  well. But just kind of like getting
• 27:01
  together with your homies and being like, no, this is when
• 27:03
  generational wealth is made, you know, buying the dip, you know,
• 27:06
  holding on, not panic selling out, not getting shaken out and
• 27:09
  giving your sats to Wall Street or the big banks or anything
• 27:13
  like that. This is the time, it's a buying
• 27:15
  opportunity. So that's what it is.
• 27:16
  And you know the best thing about this Opti, when Bitcoin's
• 27:19
  down 21%, you're all in, You know how much your net worth is
• 27:22
  down. So you know, it's very, it
• 27:24
  tracks very easy. You know, you just look, you're
• 27:26
  like, oh, shit, like it's down. But hey, I'm ever the optimist.
• 27:29
  There's an opportunity to stack a ton more because I know, you
• 27:32
  know, every all time high was once an all time high, meaning
• 27:36
  that in the future that all time high will be broken by a new all
• 27:39
  time high. So this is your time to buy the
• 27:41
  dip. Yeah, the Chad's cracking me up.
• 27:44
  Bitcoin is anonymous, meeting every weekday at 12:15 PM.
• 27:48
  Yes, this is what it is, guys. This is what it is.
• 27:51
  And really, you know it. Today's are the days.
• 27:54
  Or rather, this week is one of those weeks where you know, when
• 27:58
  people tell you you got lucky in Bitcoin, they really don't
• 28:01
  understand how hard mentally it is to actually huddle your
• 28:04
  Bitcoin, to continue to stack in the face of everyone telling you
• 28:08
  you're an idiot in the face of the price dumping on you.
• 28:11
  This is really the day days where you become a hardened
• 28:14
  Bitcoin and you're like, dude, after days like today or this
• 28:17
  week, nothing can change you. Nothing can, you know, shake you
• 28:21
  out of your position. And the people selling right now
• 28:24
  are very clearly people that just don't understand what's
• 28:26
  going on. So these are the days where
• 28:29
  you're you're going to look back on and when the people tell you
• 28:32
  you got lucky, you're going to be like, no, it wasn't easy
• 28:35
  losing 50, eighty, 25% of my purchasing power in a week.
• 28:40
  And I earned those, you know, 50, the 2080% hundred plus gains
• 28:45
  on your Bitcoin because you huddled in the face of everyone
• 28:48
  telling you that you should be selling.
• 28:49
  So keep stacking. This is the way.
• 28:52
  Anyways, Chris, I saw you wanted to jump back in.
• 28:54
  Yeah, I mean, just to your point, Opti, like it's very hard
• 28:57
  to show that on a chart, even if you zoom out like, hey, like,
• 29:00
  you know, prices going up a lot and then it chopped sideways and
• 29:03
  then it went down. Like it's hard to relay the
• 29:05
  emotions that you feel or like the situation that you're in or
• 29:08
  life going on, like, you know, you're going to have the trials
• 29:11
  and tribulations of life. Like, like, you know, you'll
• 29:13
  have a loved one that's gets lost at the same time you have
• 29:16
  one of your good friends has a kid.
• 29:17
  So it's like hard to describe the feelings just by like
• 29:20
  showing the metrics of a chart. But to your point, like these
• 29:23
  are the times when you have to buckle down, stay to the
• 29:25
  fundamentals, stay humble stacks at, you know, and keep trying to
• 29:28
  build generational wealth in this asset that's going to go up
• 29:31
  forever. You know, it's Infinity divided
• 29:33
  by 21 million. I know that that is.
• 29:36
  Oh my gosh, I'm drawing a blank on his.
• 29:37
  Name. Canute, thank you.
• 29:38
  Canute is the one that kind of brought forth that mean, but
• 29:41
  it's true. Like there's unlimited amount of
• 29:43
  dollars and there's the favorite, you know, quote from
• 29:45
  the Fed chairman being like, what's his name, Kalahari or
• 29:50
  whatever that he's like. Is there an infinite amount of
• 29:52
  dollars that you can print in the Federal Reserve?
• 29:53
  He's like, yes, there is exactly.
• 29:56
  He's like there's infinite numbers of dollars.
• 29:58
  So, you know, that means that dollars are worthless over the
• 30:01
  long run and Bitcoin's going to only get more valuable in dollar
• 30:04
  terms and in every Fiat currency.
• 30:06
  So, you know, why not have the hardest money the world has ever
• 30:09
  created right now? Let's go.
• 30:12
  Awesome. Wait, wait, wait.
• 30:14
  I just realized I haven't been hitting the horn enough on the
• 30:17
  show, so we're going to hit some horns today to get you guys
• 30:20
  hyped. Anyways, guys, before we move
• 30:21
  into the news, cover some stuff that I'm not so hyped on, but we
• 30:25
  got to do our duty due diligence and cover some other stuff that
• 30:28
  isn't so bullish. I want you guys to smash the
• 30:31
  like button. Let's get out.
• 30:32
  What do I need? I need 30 likes before the next
• 30:35
  segment so we can get to 150. On that note, let's get into the
• 30:40
  news. I want to give a shout out to
• 30:44
  our sponsor, Casa. Bitcoin security matters, but
• 30:47
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  sure you are taking your Bitcoin off exchanges guys, this is the
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  foundation hook it up with the envoy app.
• 33:10
  I've been saying for a while it's grandma friendly.
• 33:12
  I haven't verified that you know, RIP my grandparents.
• 33:15
  So I, I haven't actually got the passport into my grandparents
• 33:18
  hands, but maybe one of you guys can get yourself a passport and
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• 33:26
  Guys, it's beautiful. It's sleek.
• 33:28
  You guys be you guys know how to use it.
• 33:30
  Anyways, moving on a little bit. So we got the first digital
• 33:34
  asset committee yesterday. Of course, if you guys have been
• 33:37
  following along, Senator Lummis is the heading this Digital
• 33:41
  Asset Subcommittee. And personally, the first one
• 33:46
  was kind of a let down, I'm not going to lie.
• 33:47
  So I'm going to break this down for you guys a little bit.
• 33:49
  We got an article here from Bitcoin Magazine and as the
• 33:52
  title, as you can read on the video, here's the headline.
• 33:55
  Stablecoins, not Bitcoin, is the focus at the 1st US Digital
• 34:00
  Asset Subcommittee hearing. So senators and key figures from
• 34:04
  the crypto industry discuss all things stablecoin at the first
• 34:06
  ever hearing hosted by the newly established Senate Banking
• 34:10
  Subcommittee on Digital Assets. Again, kind of disappointing.
• 34:15
  You guys know my view on stable coins.
• 34:17
  I'm not the biggest fan. A Bitcoin is my stable coin.
• 34:20
  You know, one Bitcoin equals one Bitcoin.
• 34:22
  But this is what they're discussing on the 1st Digital
• 34:26
  Assets Committee. So just breaking it down today.
• 34:29
  And this was this was Wednesday. So you know, yesterday we had
• 34:33
  Lop, I was trying to cover it yesterday, but kind of fashion
• 34:35
  the show around LOP about things he wanted to hit on or rather I
• 34:39
  knew he would would be able to hit on really well for you guys.
• 34:41
  So a couple days late, but it's still the point remains the
• 34:44
  same. So Wednesday, the Senate Banking
• 34:47
  Subcommittee on Digital Assets hosted its first hearing
• 34:50
  entitled Quote Exploring Bipartisan Legislative Framework
• 34:55
  for Digital Assets, at which certain members of the
• 34:57
  subcommittee and crypto industry witnesses predominantly
• 35:01
  discussed stable coin regulation.
• 35:04
  Senator Cynthia Lum is a long time proponent of Bitcoin and
• 35:07
  the digital assets industry presided over the hearing with
• 35:11
  assistance from subcommittee member Senator Rubin Galago from
• 35:14
  Arizona. Witnesses are we don't need to
• 35:17
  read that one. Setting the tune for the meeting
• 35:19
  Senator Lummus stated that she intends to do her part in
• 35:22
  passing bipartisan legislation for Bitcoin and stablecoins.
• 35:26
  And this was one of the few times during the whole meeting
• 35:28
  that the word Bitcoin was even mentioned.
• 35:30
  One of the only other times in the hearing was mentioned when
• 35:33
  Mossad voice that he's objected to the creation of a strategic
• 35:37
  Bitcoin reserve. And they are read referencing
• 35:40
  Tim Mossad, former CFTC chair and research fellow at Kennedy
• 35:44
  School of Government. So but throughout the hearing,
• 35:46
  Mossad stressed the importance of monitoring stablecoin
• 35:49
  transactions. He suggested extending the
• 35:51
  regulatory perimeter to address AML challenges associated with
• 35:55
  stablecoins and even propose that smart contract be designed
• 35:58
  in a way that mitigates the risk of bad actors using them.
• 36:02
  And we got a quote here and it goes.
• 36:03
  Our entire Bank Secrecy Act framework relies on central
• 36:06
  centralized intermediaries. Mossad calls on Congress to
• 36:11
  extend the regulatory perimeter and require stable coin issuers
• 36:14
  to aggressively monitor transactions and free stable
• 36:18
  coins. Literally highlighting one of
• 36:19
  the reasons why I'm not a fan of stable coins.
• 36:21
  But you know, we, we can chat about that later.
• 36:23
  We might program smart contracts so the transactions can't go
• 36:26
  through unless someone has been properly vetted.
• 36:28
  Honestly, that might have helped to buy bid hack.
• 36:30
  I mean, maybe maybe Ethereum should be taking some notes
• 36:34
  here. Obviously, I'm not advocating
• 36:36
  for that. On big, Mossad also suggested
• 36:39
  that stablecoin issued that we read that Massari pointed out
• 36:42
  that the authorities can also surveil stablecoin transactions
• 36:45
  as these assets run in public blockchain.
• 36:47
  She also called for sensible regulations around the
• 36:49
  technology so long as it isn't too heavy-handed.
• 36:53
  And you know, we've been saying this for a while.
• 36:55
  We saw this throughout the whole Biden administration is that
• 36:58
  they're over regulating. They're treating the Bitcoin
• 37:00
  industry, or rather the crypto industry at large, differently
• 37:03
  than traditional finances. Even though Elizabeth.
• 37:05
  Warren is saying the opposite. Oh, we need a fairground here
• 37:08
  between crypto and traditional finance.
• 37:11
  That isn't the case. And as you can hear here, we
• 37:14
  have a tendency when regulating financial services to take the
• 37:17
  new thing and cram it into the old, which is a common set of
• 37:20
  standards and something we've been talking about here on the
• 37:22
  show for a long time that you can't put Bitcoin into a box and
• 37:26
  yet they are going to do that. And so Cohen made a similar
• 37:30
  claim stating that crypto entrepreneurs in the US feel the
• 37:33
  constant threat of litigation, alluding to former SEC Cherry
• 37:36
  Gary Gensler's regulation by enforcement approach.
• 37:40
  Again, I'm going to double down on maybe Gary Gensler was a good
• 37:43
  thing when you follow this up with what we are seeing come out
• 37:48
  of the SEC and just put a pin on that one.
• 37:50
  So the last quote here is bipartisan support for crypto
• 37:53
  policy is no longer a distant goal on from the horizon.
• 37:56
  So I guess one good thing we can hear from this first digital
• 38:00
  asset subcommittee is that it's no longer just a Republican
• 38:04
  stance. As we covered this week, you
• 38:06
  know, Elizabeth Warren's crypto anti crypto army from the
• 38:09
  Democrats seemingly is capitulating and people are
• 38:12
  starting to move away from Elizabeth Warren.
• 38:14
  So now we are actually getting a conversation or about, you know,
• 38:18
  some regulations in the space that will benefit both sides of
• 38:21
  the aisle. So I think this is obviously
• 38:23
  healthy. Personally, I'm not a fan of the
• 38:26
  stable coins. You guys know, know my stance on
• 38:28
  this. If we, you know, you should
• 38:30
  watch the show. Senator Cynthia Thomas kind of
• 38:33
  did a little recap here. And this goes into my second
• 38:37
  point. So here's what we learned from
• 38:38
  yesterday's hearing. Most digital assets are not
• 38:41
  legally securities under the Howie test.
• 38:44
  What bullshit. Anyways, the United States is
• 38:48
  behind other countries and creating laws for digital assets
• 38:51
  and stable coins will bring our payment system into the 21st
• 38:55
  century. And as Walker said, it's like
• 38:57
  hardly any mentions of Bitcoin in this whole quote UN quote
• 39:00
  digital assets meeting. And the other thing that we
• 39:03
  heard come out yesterday, which is probably the biggest fumble
• 39:08
  we've seen so far in regards to the crypto space, is this
• 39:12
  headline. SEC says most meme coins are not
• 39:15
  security Incredible. Incredible.
• 39:18
  Again, I'm doubling down on the idea that maybe Gary Gensler was
• 39:21
  a good thing for investors out there.
• 39:25
  Maybe he wants a Bitcoin maxi. OK, just take down a little bit.
• 39:29
  The SEC issued long sought after guidance Thursday evening,
• 39:33
  saying it does not deem most mean coin securities under U.S.
• 39:36
  Federal law. Most mean coins quote typically
• 39:40
  have limited or no use of functionality and are more akin
• 39:44
  to collectibles. Well at least they got that
• 39:46
  right. There is no use in functionality
• 39:49
  meme coins. But hey, that's a totally
• 39:51
  different conversation I guess. Quote It is a division view that
• 39:56
  transactions in the types of meme coins described in the
• 39:59
  statement do not involve the offer and sale of securities
• 40:02
  Under the federal securities laws.
• 40:04
  Persons who participate in the offer and sale meme coins do not
• 40:07
  need to register their transactions with.
• 40:09
  The Commission, accordingly, neither mean coin purchasers nor
• 40:13
  holders are protected by the federal securities laws.
• 40:16
  It also said a mean coin does not constitute any of the common
• 40:19
  financial instruments specifically enumerated in the
• 40:23
  definition of quote a security because, among other things, it
• 40:26
  does not generate, yield or convey rights to future income,
• 40:29
  profits or assets of a business. In other words, a mean coin is
• 40:34
  not itself a security. And then it kind of, you know,
• 40:38
  references Donald Trump shit coin.
• 40:40
  It references some people saying that this is, you know, this is
• 40:43
  the regulatory clarity that we needed for the space.
• 40:46
  And again, it's kind of a it's kind of interesting that Gary
• 40:51
  Genser might have not been the bad guy after all, considering
• 40:54
  everything that has happened afterwards.
• 40:57
  Obviously, we are not here to advocate for the state to pick
• 41:01
  winners and losers. Bitcoin is a free market of
• 41:04
  money. But you guys know our stance
• 41:06
  here on simply Bitcoin. There is Bitcoin and there's
• 41:09
  shit coins and hey, look, I'm never going to tell you what to
• 41:11
  do with your money. If you want to go gamble, have
• 41:14
  fun buying meme coins. But if you're trying to save in
• 41:16
  something for the long term, there is only Bitcoin.
• 41:20
  So again, updating on the 1st digital asset subcommittee is
• 41:25
  really it's, it's not, it's not good, guys.
• 41:28
  I'm, I'm going to be serious, it's it's not good.
• 41:30
  The first conversation, the first meeting was all about
• 41:32
  stablecoins. Now the SEC is kind of backing
• 41:35
  off away meme coins saying it's, you know, not a security.
• 41:39
  At least they got one thing right that meme coins or shit
• 41:42
  coins at large have no use or functionality.
• 41:45
  I mean, I don't know, I I'm trying to spin this in a good
• 41:48
  way for you guys. We all know shit coins are
• 41:50
  trash. But yeah, this is where we are
• 41:53
  right now guys. So at the very least, it looks
• 41:56
  like if we are going to get a whole new round of shit coin
• 42:00
  degeneracy coming out of Wall Street and the political class,
• 42:04
  at least we know that bitcoins going to have cover.
• 42:07
  As the meme goes, for the longest that I've been in
• 42:10
  Bitcoin, the best use case for shit coins is basically giving
• 42:14
  Bitcoin cover. They go attack the shit coins
• 42:17
  first. Now it looks like we are just
• 42:19
  going to see a wave of insane shit coin degeneracy coming out
• 42:24
  from whoever the biggest name is on the block.
• 42:26
  I'm sure Wall Street's going to come in on this pile on on this,
• 42:29
  but that just means Bitcoins going to get out of the door.
• 42:32
  If Bitcoin just has a couple more years to kind of continue
• 42:35
  to capitalize on the, the uncertainty in the markets, I
• 42:39
  think we are going to see Bitcoin win.
• 42:43
  I think that's very clear that that is the case.
• 42:46
  Anyways. Chris, what's your thoughts?
• 42:48
  What's going on, on this? What's your first of all?
• 42:50
  Actually, just just go. It's, it's all, it's all kind of
• 42:53
  bad. Opti, you mean Shibu Inu, Obama,
• 42:58
  Clinton, Trump, Daddy doge isn't your like investment of choice?
• 43:03
  So no, I mean, to your point, I mean, I don't know how Senator
• 43:07
  Cynthia Lamas can say, you know, we're like evaluating using the
• 43:11
  Howie test. And I'm just going to go through
• 43:12
  the four components of the Howie test real quick here.
• 43:14
  To pass a Howie test or a transaction must meet all of
• 43:17
  these requirements. Passing is good is bad means
• 43:20
  that you are considered, you are considered a security.
• 43:22
  So it's not a bad thing or good thing.
• 43:23
  But like the Bitcoin doesn't meet Bitcoin does not meet the
• 43:26
  Howie test or does it fails the Howie test.
• 43:28
  So the investment of money the investor must pay must put money
• 43:32
  into the venture common enterprise.
• 43:34
  There must be a shared investment pool or project where
• 43:36
  all the investors are tied to the success of the overall
• 43:38
  adventure. Adventure expectation of profit.
• 43:41
  The investor must recently expect a profit from the
• 43:44
  investment and then last efforts of others.
• 43:46
  The profits must primarily come from the efforts of a promoter
• 43:50
  or other party managing the investment, not solely from the
• 43:53
  investor's own work. So basically this like looks
• 43:56
  like it lumps all cryptos that aren't Bitcoin into this that
• 44:00
  like basically, you know, even for meme coins, there's a
• 44:02
  promoter or people promoting it. You know, investors must expect
• 44:06
  a profit. I mean, I guess that's the one
• 44:07
  you could argue like, hey, I'm buying this meme corn, not meme
• 44:10
  coin, not to profit, but then that's like the most ridiculous
• 44:13
  thing ever. So I don't know, I just, I don't
• 44:16
  really buy this. It's so weird that, you know, I
• 44:18
  understand why the US government and why U.S. government
• 44:21
  officials would want to push stable coins because it's a way
• 44:24
  like as Mark and Whitney, Mark Goodwin and Whitney Webb have
• 44:27
  talked about this ad nauseam, that propagating stable coins
• 44:30
  are, one, the kind of like a de facto CBDC, and then two,
• 44:34
  they're also way to use and propagate the dollar.
• 44:36
  I mean, tethers, like I know they're one of the largest
• 44:38
  stable coin issuers in the world, if not the largest
• 44:41
  themselves. I think they're the largest, but
• 44:44
  they purchase like the 10th most treasuries, more than like the
• 44:48
  majority of nation states in the world.
• 44:49
  I think they purchase more than China, more than India, more
• 44:53
  than Brazil. And like, obviously these are
• 44:55
  like the BRIC nations that are trying to leave purchasing U.S.
• 44:58
  Treasuries because obviously the sanctions risk that comes with
• 45:00
  it. But you know, the US
• 45:01
  government's kind of between a rock and a hard place.
• 45:03
  They need someone to purchase their treasuries, not in order
• 45:06
  to have the bond market and the Treasury market explode
• 45:09
  figuratively, of course, not metaphorically or not literally,
• 45:12
  but like they need someone to purchase these treasuries.
• 45:14
  And when other large nation states aren't doing that, they
• 45:17
  need a way to propagate and prop up the dollar, prop up their
• 45:20
  treasury market to keep this Fiat Ponzi scheme going.
• 45:23
  So they're kind of called between a rock and a hard place.
• 45:25
  They would love to get rid of tether, but you know, they'll do
• 45:27
  the second best thing by Co opting it using the FBI, the
• 45:30
  SEC, the all these things to like basically stop or or block
• 45:34
  transactions from happening, which tether literally said two
• 45:37
  years ago. Like we're excited to announce
• 45:38
  that we've onboarded the FBI and the SEC.
• 45:41
  Like, you know, it's kind of, they were caught between a rock
• 45:43
  and a hard place, too. It's like if they were told they
• 45:44
  have to shut down or the founders might go to jail, like
• 45:47
  basically it's like, all right, they're either like, they're
• 45:49
  going to cooperate or you're going to see jail time.
• 45:51
  So I it's easy to see why they picked that.
• 45:53
  But at the same time, when you're using Tether and you're
• 45:56
  not using Bitcoin or any other stablecoin, you're at the mercy
• 45:59
  of that provider. And they can block transactions,
• 46:01
  they can reverse transactions, they can freeze your wallet
• 46:03
  where Bitcoin, that's not the case.
• 46:05
  So yeah, it's just kind of really a bummer to see that, you
• 46:08
  know, Senator Cynthia Lummis didn't talk much about Bitcoin
• 46:10
  at all. And then I definitely understand
• 46:12
  why they want to propagate stable coins.
• 46:13
  It's an easier way to push stable coins to the emerging
• 46:17
  markets or the third world. And then, yeah, it props up the
• 46:20
  Treasury market. But at the same time, yeah,
• 46:23
  like, I don't know how this article comes out saying we're
• 46:25
  using the Howie test, but then meme coins are don't meet the
• 46:29
  Howie test. It's like I have.
• 46:30
  I have no idea how you can see the logic with both of us,
• 46:33
  unless the investors are just like, we're buying this as a
• 46:35
  token and we expect to lose money.
• 46:37
  But let's be honest, like Twitter and X, like the the
• 46:39
  mania is crazy over there. They all expect to make money.
• 46:42
  Look at like Davey day trader is just an example.
• 46:45
  So yeah, I don't think you're like kind of talking out of both
• 46:47
  sides of your mouth. Like we're using the Howie test,
• 46:49
  but mean coins fail the Howie test.
• 46:51
  It's like I I don't see the logic, but I'm not.
• 46:53
  A1 Yeah, I adore a politician, but yeah, 100% agree.
• 46:58
  Great take, Chris. And as someone said in the chat,
• 47:02
  have Chris repeat this, then drop the horn.
• 47:04
  But I'm not going to repeat that.
• 47:06
  But Chris, dropping the sauce on us.
• 47:08
  All right guys, the show's not over.
• 47:10
  We still have a jam packed show for you guys, but please smash
• 47:13
  the like button. Help us push this signal out to
• 47:16
  more people on YouTube. You guys on Rumble, you can
• 47:19
  smash it if you want. I still love you.
• 47:21
  You guys are you guys are super toxic, but this is mainly for
• 47:23
  the YouTube audience. Guys smash the like button.
• 47:25
  Let's try to get to 250 likes before the show ends.
• 47:29
  But here we go. We are going to talk all things
• 47:32
  proof of workforce and all the things that Chris is working on.
• 47:37
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  your success. Let's go, Chris.
• 49:16
  Well, Chris, thank you for filling in on such short notice
• 49:20
  today. But how you doing man?
• 49:22
  It's been a minute. What are you working on?
• 49:24
  How's life over there at proof of workforce?
• 49:27
  Let's actually, let's just start with, let's do just ATTLDR, you
• 49:31
  know, a short summary. What is proof of workforce?
• 49:33
  What are you working on? And then we'll talk about some
• 49:35
  new developments. Yeah, so proof of workforce is
• 49:37
  kind of the brainchild of Dom Bay.
• 49:39
  So I don't know if anyone knows Dom Bay or Baywatch one on
• 49:42
  Twitter. He's a great dude, firefighter
• 49:45
  out in the California area, out in the LA area.
• 49:48
  So he's doing well. His house is all right, his
• 49:50
  family's all right. But I know many people were
• 49:52
  affected by the LA fires that happened just recently, a couple
• 49:55
  months ago. So he was fighting those.
• 49:57
  All is good on the home front there.
• 49:58
  But as I say, in Dombey, kind of his brainchild was basically
• 50:01
  that he wanted like there's all this talk of financial
• 50:04
  institutions or, you know, Bitcoin companies or Bitcoin for
• 50:08
  businesses or Bitcoin for corporations.
• 50:10
  But aside from you guys and like, you know, giving the
• 50:13
  everyday plebs kind of understanding of Bitcoin,
• 50:16
  basically he wanted proof of work first, which is someone
• 50:19
  that's a blue collar worker for the everyday man, for the wage
• 50:22
  earner, for people that have pensions, you know, government
• 50:25
  officials and stuff like that. So he wanted to help the
• 50:27
  everyday man and learn about Bitcoin and a way that, you
• 50:30
  know, there's always talks of Wall Street and I know Max
• 50:33
  Keiser has many great rants that pension funds are basically just
• 50:36
  where toxic, toxic waste from Wall Street goes to die.
• 50:39
  But we want to try and revolutionize the pension
• 50:42
  industry by putting Bitcoin on their balance sheets in order to
• 50:44
  pay people. And I understand it like the
• 50:46
  pensions themselves, people see them as evil, greedy, you know,
• 50:49
  a lot of times they're done by, you know, they're managed by
• 50:53
  bloated bureaucrats. But we're trying to change that
• 50:55
  because at the end of the day, pensions are what some people
• 50:58
  that are normally a public servants or people that work for
• 51:01
  corporations, if they're depending on their for their
• 51:03
  livelihood, you know, when they retire, you know, you assume you
• 51:06
  have a little bit of a four O 1K or 4O3B as, you know, an
• 51:09
  investment fund, you know, and then they have pensions, but
• 51:12
  you'd hate to see those go bankrupt.
• 51:13
  And you know, while some people like the, the managers people
• 51:17
  don't like or the people that run the pension funds, but the
• 51:19
  people that they help, it goes a long way.
• 51:21
  So we're just trying to educate about 1 putting Bitcoin on
• 51:25
  pensions balance sheets to make sure that they're healthy and
• 51:27
  they stay alive, while at the same time, you know, it's kind
• 51:29
  of like a, a slide of hand orange peeling.
• 51:31
  Like, Hey, you're hearing about, you know, Bitcoin going into
• 51:34
  your pension fund, but like learning about orange peeling
• 51:37
  people that are everyday workers, Like you don't have to
• 51:39
  rely on a pension, you don't have to rely on Social Security,
• 51:41
  you don't have to rely on 4 O1 KS because there's a whole, you
• 51:44
  know, the all when we unpack it all, like a lot of those
• 51:47
  industries can be predatory and in the long run might not be
• 51:50
  able enough to afford you a comfortable retirement.
• 51:52
  So it's a way for everyday wage earners and blue collar workers
• 51:56
  to learn about Bitcoin and that's the avenue that we're
• 51:58
  trying to go to get them to buy into it.
• 52:01
  Yeah, I think it's incredible work you guys are doing, but
• 52:03
  like just to kind of give some context here, like how big of a
• 52:07
  problem is the pension funds? You know, 'cause I look, I don't
• 52:11
  have a pension, you know, like I'm all in on Bitcoin, no
• 52:14
  strings here, no Plan B. So for people that maybe aren't
• 52:18
  familiar with this, how big of a problem is this pension fund
• 52:21
  thing? It's a huge problem.
• 52:23
  I mean many pension funds. So I'll go over the basics.
• 52:26
  So normally pension funds have, you know, obviously when you
• 52:29
  work for a government, for the for government or for a
• 52:31
  corporation, pension funds have to pay out with their retirees
• 52:35
  over time. So they have assets and they
• 52:36
  have liabilities. So the assets are what they buy,
• 52:39
  you know, a mix of stocks, bonds, you know, mutual funds,
• 52:43
  sometimes even REITs, real estate investment trusts, all
• 52:46
  these different assets in there. And then as the baby boomers or
• 52:50
  as the traditional generation retire, they have to pay out.
• 52:52
  So they have to, you know, they're buying assets with their
• 52:55
  current members. So, you know, if you're working
• 52:58
  for a government or a corporation that still has
• 53:01
  pensions, normally you have the the working age, let's call it
• 53:04
  just 22 or 18 to let's just say about 65 when many people
• 53:08
  retire, all those people are paying in every month to go into
• 53:11
  the pension. And then on the backside you
• 53:13
  have the retirees. So anyone that's 65 and up, you
• 53:15
  know, as a general rule that retired, they're pulling, you
• 53:18
  know, a monthly, basically a monthly dividend or they're
• 53:21
  getting paid out from the pension.
• 53:22
  So you have people buying assets on the one side, then you have
• 53:25
  retirees withdrawing or selling some of those assets.
• 53:28
  And then hopefully the assets are growing fast enough in order
• 53:32
  to meet the demand. Obviously, pensions were a great
• 53:34
  idea in the 40s and 50s when we were coming back from war.
• 53:39
  You know, a lot of people were, you know, coming back from World
• 53:41
  War 2, they were, you know, they wanted a way to secure
• 53:44
  retirement. And a lot of people that were
• 53:46
  retiring, the older generations that were tiring, the
• 53:48
  traditional generation, they had this boom, the baby boomers as
• 53:52
  like going contributing into 401K.
• 53:54
  So in the 40s, fifties, 60s, and even the early 70s a lot, there
• 53:58
  was a lot more people in the workforce paying into this and
• 54:01
  versus the people that were collecting from it.
• 54:03
  So you know, that works all fine and dandy until you start to see
• 54:07
  your population either stagger, so not grow as fast or start to
• 54:11
  decline. It becomes a real big issue
• 54:12
  because then you have more people who are in retirement
• 54:15
  versus people that are contributing or putting into
• 54:17
  this. So, you know, one of the things
• 54:20
  is obviously if you have a superior asset that outperforms
• 54:23
  or appreciates in value much faster than you can not escape,
• 54:28
  but kind of grow your way out of it because of the asset class
• 54:30
  growing fast enough. So that's a big part of it.
• 54:33
  And then, yeah, I mean, but there's literally, quite
• 54:35
  literally trillions of dollars locked up in pension funds.
• 54:38
  And a lot of times they have mandates, like I said, like the
• 54:41
  US government or municipalities or states need to buy their
• 54:43
  bonds. So a lot of times they push
• 54:46
  their bonds into pension funds, requiring them to buy them.
• 54:49
  So when you know the traditional 80408020 portfolio of 80% stocks
• 54:53
  and 20% bonds, well that becomes an issue when the bonds are
• 54:57
  devalued. Obviously we heard in 2023 when
• 55:00
  they had the BTFP program, which is by the, you know, the bank
• 55:04
  funding, bank term funding program.
• 55:06
  It's called the by the effing paper is, you know what many
• 55:08
  bitcoiners are saying. But basically when you're having
• 55:11
  that bonds get devalued because interest rates are going up or
• 55:14
  money printing is occurring, you know, obviously those are
• 55:17
  becoming worthless or worth a lot less.
• 55:19
  So normally the benchmarks for pensions are 70% of funded means
• 55:24
  that you know, your liabilities to assets means that you only
• 55:27
  have 70% of the assets to cover 100% of your liabilities.
• 55:30
  So 70% is kind of the danger mark where if you're like,
• 55:33
  you're like teetering, it's not really great.
• 55:34
  It's not really not good, it's not bad.
• 55:36
  But if you start falling below, that becomes an issue when you
• 55:39
  get to 40% liability or assets to liabilities, that means that
• 55:44
  the pension fund is defunct. And there's many across the
• 55:46
  United States that are that are in that case, meaning that if
• 55:50
  you're at 40%, there's no way that you're going to be able to
• 55:52
  outgrow or outpace. And basically the pension funds
• 55:55
  going to have to fold. And at the end of the day,
• 55:57
  that's, you know, grandmothers, grandfathers, you know, elderly
• 56:00
  people that they're going to lose some of their income
• 56:03
  because of the negligence of the fund manager or because of just
• 56:06
  really bad policies and decisions that are being made.
• 56:10
  So obviously, you know, while politicians can kind of skate
• 56:12
  free or even the fund managers can just leave the job or
• 56:15
  whatever, these are everyday Americans or even just everyday
• 56:18
  workers across the world that are going to lose their
• 56:20
  livelihood. So that's really unfortunate.
• 56:22
  So that's why Dom and I are going in talking about Bitcoin,
• 56:24
  you know, talking about, you know, personal finance
• 56:27
  responsibility and kind of stacking sats in order to hedge
• 56:30
  that risk. Yeah, and that's the thing that
• 56:32
  I love about this the most is that you're trying to reach out
• 56:36
  the everyday person to make sure they understand Bitcoin.
• 56:40
  And as as I think it's anyone knows if you ever go to the US
• 56:42
  debt clock, you know, the unfunded liabilities.
• 56:45
  I haven't even looked at it in a couple of weeks.
• 56:46
  It's crazy. It's I don't even know what
• 56:49
  hundreds of trillions of dollars.
• 56:50
  It's insane. So.
• 56:52
  I think it's well over 200 trillions of dollars.
• 56:54
  So it's it's it's insane. But then Opti, to your point,
• 56:57
  you can keep the two of us up here.
• 56:59
  But like it it's you know, you can get mad at the system, but
• 57:02
  at the end of the day, it's like every day's, you know, every day
• 57:05
  citizens lives. And I'd hate to see millions of
• 57:08
  of Americans be destitute or not have money and not be on the
• 57:10
  streets. And it's kind of dominized way
• 57:12
  of being like, yeah, like this pension.
• 57:14
  We'd love to get Bitcoin on the on the pension balance sheet.
• 57:16
  But when you're working with, you know, everyday workers or
• 57:18
  blue collar workers, they're like, wait, like, what if my
• 57:20
  pension's buying this? Like maybe like invest into it
• 57:23
  And almost we're trying to orange peel them in reverse.
• 57:25
  Like we're talking to the pension funds saying, Hey, you
• 57:27
  want to cover your liabilities by putting Bitcoin in your
• 57:29
  balance sheet. But the same day pensions are
• 57:31
  just a collection of workers that are putting into this or
• 57:34
  retirees. And like, hey, maybe it makes
• 57:36
  more sense for you to, you know, take responsibility for
• 57:39
  yourself. And instead of worrying about
• 57:40
  your pension, your Social Security or 4O1K paying out,
• 57:43
  like you know, you can take Bitcoin on your own personal
• 57:45
  balance sheet like you and your loved ones, you can buy it
• 57:48
  yourself. And then that is a way to, you
• 57:50
  know, hedge responsibility or take on full responsibility and
• 57:53
  understand the asset class, learn about Bitcoin and learn
• 57:56
  how this can save from like a deflationary or from like a Fiat
• 58:00
  inflationary crash or hyperinflation basically.
• 58:02
  So it's kind of our way of orange peeling pensions, orange
• 58:04
  peeling workers. We literally, quite literally
• 58:07
  have thousands of workers that are part of proof of workforce
• 58:10
  that are learning about it, whether they're part of pensions
• 58:12
  that have put that coin on their balance sheets.
• 58:13
  And we've had a huge success rate.
• 58:15
  Obviously pension funds, they can go any route they want.
• 58:17
  They can, they can invest in MicroStrategy.
• 58:19
  It's not something that, you know, if they want to do that,
• 58:21
  they could do that, they could buy the ETF.
• 58:23
  We don't advise for that. Our biggest thing is we'd love
• 58:25
  for them to buy it and put it in self custody themselves and then
• 58:28
  have the pension funds or the workers manage it themselves.
• 58:30
  So we've had a great success rate that the majority, if not
• 58:33
  all of them have bought Bitcoin themselves, withdrawn it to self
• 58:37
  custody. And then you know, the next
• 58:38
  issue when you're a pension fund, you know, it's not just
• 58:40
  like you can put it in a single sig, you know, a foundation
• 58:44
  passport and just throw it in your desk.
• 58:46
  Yeah, you can do that. But there's succession planning.
• 58:48
  So normally when you're president of a pension or if
• 58:50
  you're a president of a labor union, like there's term limits,
• 58:53
  you know, you're there for three years, five years, 10 years,
• 58:55
  whatever it may be. Well, how do we guarantee that
• 58:58
  that guy didn't write down the seed words and like steal the
• 59:00
  money? So a lot of times we have them
• 59:02
  in two or three setups. Or you can use companies like
• 59:04
  Casa or Unchained or companies like that to do collaborative
• 59:07
  custody that like, hey, this is part of the pension.
• 59:09
  If this Bitcoin moves, you know, we have like liability.
• 59:12
  Like we could go after someone looking at what key was used to
• 59:15
  move the Bitcoin. And like, you know, like,
• 59:17
  basically you're building a legal entity around the Bitcoin
• 59:20
  that you have in self custody for the pension.
• 59:22
  So there's ways to protect the workers from not just someone
• 59:25
  being like, hey, yeah, I'm going down to Mexico, you know,
• 59:28
  sweeping the funds, retiring or never to be heard from.
• 59:30
  So we're trying to build out policies, procedures and ways to
• 59:33
  help the pension funds in any way in terms of what Bitcoin is,
• 59:36
  how it works. You know, Dom and I take calls.
• 59:39
  We get way less calls when when Bitcoin dumps, if anything,
• 59:42
  they're like they're calling us to to buy more.
• 59:45
  But, you know, when it goes up, you know, they're not like
• 59:47
  panicking or freaking out or saying they should sell or buy
• 59:50
  more. So yeah, that's kind of what Dom
• 59:52
  and I have been working on since September of 2023.
• 59:55
  Love it. And how like you just said, it
• 59:58
  seems like the narrative around Bitcoin is is starting to kind
• 1:00:02
  of break out of this just like niche Internet thing.
• 1:00:05
  It's like it seems like people are actually taking Bitcoin.
• 1:00:08
  Seriously, and I think you're in a good space where you know,
• 1:00:10
  people that manage pension funds, it's they're probably the
• 1:00:14
  most conservative investors period.
• 1:00:17
  And now they're looking at Bitcoin.
• 1:00:19
  And this is what we always say Bitcoin is our stable coin.
• 1:00:21
  And once you understand, once that clicks, you realize, wait,
• 1:00:24
  if I want to hold something long term, it needs to be in Bitcoin.
• 1:00:28
  And it looks like what you guys are doing is a testament to
• 1:00:30
  that. So love to see it.
• 1:00:32
  Yeah. And I'll add one more thing.
• 1:00:34
  So many of the workers, obviously, you know, maybe
• 1:00:36
  they're a little bit older than us.
• 1:00:38
  We were kind of young when the 2008 great financial crisis
• 1:00:41
  occurred. But many of these guys that are
• 1:00:43
  older than us, we're looking at, you know, Wall Street and Wall
• 1:00:47
  Street kind of walked away, skate and free, clean, you know,
• 1:00:50
  free and clear. Basically, like a lot of
• 1:00:52
  Americans lost their houses, unfortunately, because of loans
• 1:00:56
  that were pushed by, you know, financial institutions.
• 1:00:58
  And I'm the first to say, you know, you got to take financial
• 1:01:00
  responsibility for things that you did.
• 1:01:02
  But many of these financial institutions, one like only one
• 1:01:05
  banker of all of the whole great, great financial crisis
• 1:01:08
  went to jail. You know of that.
• 1:01:11
  Many of them got huge bonuses, billions upon billions of
• 1:01:14
  bonuses were paid out in 2008 and 2009 still.
• 1:01:17
  And it was kind of like the status quo, like they took
• 1:01:19
  advantage of the everyday working man.
• 1:01:21
  And so a lot of the workers are pension funds.
• 1:01:23
  They've seen that the ETFs have gone live.
• 1:01:24
  And yes, it gives Bitcoin more credence and credibility.
• 1:01:27
  But at the same time, they don't want to hold an ETF that makes
• 1:01:30
  the companies and these the financial institutions that
• 1:01:34
  bankrupted America and basically them and their pensions.
• 1:01:37
  They don't want to make them rich.
• 1:01:38
  So they see Bitcoin as an Ave. to be like still be part of the
• 1:01:41
  winning team without going through BlackRock, without going
• 1:01:45
  through Fidelity, without going through these other financial
• 1:01:48
  like intermediaries or players. While they collect a fee while
• 1:01:50
  you're holding it, they'd much rather buy it and hold in self
• 1:01:53
  custody. So it's kind of like really
• 1:01:54
  reassuring that Dom and I are very happy about that.
• 1:01:57
  Obviously, if a pension is not ready to do that, you know,
• 1:02:00
  there is responsibility that comes with self custody in your
• 1:02:02
  keys. We're we are willing to help
• 1:02:03
  them and you know, can kind of guide them with getting an ETF
• 1:02:06
  that they want. That's, like I said, not our
• 1:02:08
  preferred choice, but it's just something that we can go and
• 1:02:10
  advocate and help, you know, pensions or even everyday
• 1:02:13
  workers learn about. Love it man, love it.
• 1:02:16
  Great, great work. All right, let's let's talk.
• 1:02:18
  I, we, we've talked about some of the stuff you guys have been
• 1:02:21
  working on when Dom came out and I think 2 weeks ago.
• 1:02:23
  But let's plug your recent, recent network here, your
• 1:02:27
  channel over on YouTube. What are you guys doing over
• 1:02:30
  here? And you know, what can the
• 1:02:32
  people expect from the latest drop of the Proof of Workforce
• 1:02:36
  channel on YouTube? Yeah, so once again, it's Dom
• 1:02:39
  Bay and I We're just kind of doing an everyday podcast, the
• 1:02:42
  222 Bozos talking about Bitcoin, you know, trying to help unions,
• 1:02:48
  firefighters, you know, police officers just helping learn
• 1:02:52
  about Bitcoin. We're trying to do a much
• 1:02:54
  shorter like news show. So it's like, you know, 2025,
• 1:02:57
  thirty minutes Max. Sometimes we go a little bit
• 1:02:59
  over that, obviously, but we try and just keep it short, sweet
• 1:03:03
  and talk about everything Bitcoin, the news of the week.
• 1:03:06
  And yeah, that's kind of what we're building out right now.
• 1:03:08
  So there's room for everyone to win in this space.
• 1:03:11
  And yeah, we're just kind of building out this slowly and
• 1:03:13
  surely. And and you're doing this every
• 1:03:17
  week that's. Yep, Yep, every week.
• 1:03:19
  So Dom and I, Dom's actually traveling this week, so I'm
• 1:03:21
  doing a solo RIP later today. That'll be out early next week.
• 1:03:24
  He did a solo RIP as well yesterday.
• 1:03:26
  So, but yeah, we're trying to put a ton of content over there
• 1:03:29
  and working on clips. I think, I think the one thing
• 1:03:33
  the audience wants to know before we wrap up today's show
• 1:03:35
  is are they going to get Dom Bay impersonations over at the Proof
• 1:03:40
  of Workforce YouTube channel? Always, always Dom loves doing
• 1:03:44
  the impersonations, but you know, sometimes they're actual
• 1:03:47
  real callers. So you have to be to listen to
• 1:03:48
  the podcast to see if it's actually Dom impersonating or
• 1:03:51
  the actual actual caller calling in.
• 1:03:53
  So. I love it, man, love it
• 1:03:55
  actually. What last thing I want to ask,
• 1:03:58
  and I know you guys are official here, very professional, so
• 1:04:02
  might not be able to do it, but is there anything in the
• 1:04:05
  pipeline that the people should be expecting?
• 1:04:07
  Is there some recent news, some news that might be dropping?
• 1:04:12
  Can you give some sneak peeks to the people out there?
• 1:04:15
  We are in talk with a few unions and we are in talk with a few
• 1:04:19
  very large pensions about talking about Bitcoin.
• 1:04:22
  So I can't drop. I'll let Dom do the news of the
• 1:04:25
  drop when that occurs. But we are in talks with a lot
• 1:04:27
  of people. So very cool.
• 1:04:30
  Dom, you know, kind of wears many hats and he does a lot of
• 1:04:32
  the phone calls, but pulls me in as needed for any, any education
• 1:04:36
  or help that he needs. Love it.
• 1:04:39
  Well, shouts out to the incredibly hilarious duel that
• 1:04:44
  is Chris and Dombey. Chris, thank you so much for
• 1:04:47
  coming on the show today. You guys will be seeing Chris
• 1:04:50
  Moore on the show. He's going to fill in here and
• 1:04:53
  there a couple times a month hopefully.
• 1:04:55
  And you guys know me and Chris are a perfect balance.
• 1:04:57
  I give the 45 IQ take, He gives the 120 IQ take here.
• 1:05:01
  So you get a good little balance when Chris and I come on the
• 1:05:03
  show. But Chris?
• 1:05:04
  You're too kind, Doctor. You're very, very smart.
• 1:05:07
  You're you're too humble. No, dude, we're low in the IQ 35
• 1:05:11
  IQ Chris plug, plug your socials and then I'll wrap up today's
• 1:05:15
  show for the week. Yeah, so I'm on Twitter, but I
• 1:05:18
  have or X, you know, I refuse to call it X, but basically I'm on
• 1:05:21
  Twitter there. I'm not on it much now, Crystal
• 1:05:23
  Lamo 6, but I'm mainly on Noster, so you can find me at
• 1:05:27
  primal.net back slash Crystal Lamo on Noster.
• 1:05:32
  So yeah, on Domus, on Primal, any of the clients love using
• 1:05:35
  Nostril and building out that infrastructure and that protocol
• 1:05:39
  there. Love it, Chris.
• 1:05:40
  Well, let me pull you behind the scenes as I wrap up today's
• 1:05:43
  show. All right guys, there you have
• 1:05:46
  it. This is the Friday Show for
• 1:05:48
  February 28th in the year 2025. Smash the like button on your
• 1:05:54
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• 1:05:56
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• 1:05:58
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• 1:05:59
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• 1:06:02
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• 1:06:06
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• 1:06:08
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• 1:06:10
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• 1:06:14
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• 1:06:17
  Rustin and Dante's great videos on our channel.
• 1:06:20
  On that note, guys, it's been your host Opti, and I hope you
• 1:06:23
  guys have a good weekend. Make sure you get outside, eat
• 1:06:26
  some good food, you know, go walk in the sun, all that good
• 1:06:29
  stuff. The person you're yelling at
• 1:06:30
  will be there when you come back to Twitter.
• 1:06:33
  So on that note, we'll see you Monday.
• 1:06:35
  Peace out. This has been simply Bitcoin
• 1:06:38
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