Latest / Simply Bitcoin / Partisan Bitcoin? Here’s Why Bitcoin Is For the Left And The Right | EP 467

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Partisan Bitcoin? Here’s Why Bitcoin Is For the Left And The Right | EP 467 · Simply Bitcoin

0:07
Welcome back everyone, we're simply Bitcoin.
0:09
We break down the news. The daily fail meme review,
0:12
software releases, Hardware releases and the pleb sites.
0:17
We are diving into the numbers Nico.
0:19
Let's do it. Number time, brought to you by
0:22
noddle. Not I'll make some of the best
0:25
Bitcoin nodes. Like the Donald.
0:28
Oh, Joe. I'm holding it in my hands.
0:30
Made of metal, its high quality. Remember guys, if you don't run
0:34
your own Bitcoin node, you are using someone else's that.
0:38
So take your privacy seriously, run your own Bitcoin owed like
0:43
the novel Dojo get one today. At the time of this recording,
0:46
the block height is 730 2458 the Bitcoin price forty thousand
0:51
five hundred eighty chain rewrite days 741.
0:55
Total public. Lightning capacity 3655 42
1:00
Moscow time 2465 blocks to The Happening 107,000 542 and the
1:08
samurai Whirlpool unspent capacity.
1:11
Samurai Whirlpool is a coin join or collaborative.
1:15
Spend it is not a mixing service and the unspent capacity in that
1:20
pool is 4500 17.6 teen. BTC Nico, the numbers.
1:25
We were experiencing a little bit of a pump here during our
1:28
recording, so it's a fake pie. Ump.
1:30
But the pump nonetheless, it's just Bitcoin showing that it's
1:32
alive. You know, it's like a little
1:33
heartbeat. It's alive.
1:35
Its alive here, I'm here. That is what it's showing.
1:39
I'm not, I'm not dead yet. But anyways, we got someone in
1:43
the comments field. You know, I always like to read
1:48
them. Anyways, let me put it gallery
1:50
view, let me start reading this. Comment, it was by someone
1:55
called crypto creep. Creep toe kid, And he says
2:01
wrong, even when your SPV wallet uses someone else's node the
2:07
request use a bloom filter, so the node does not see your
2:11
transaction, nor your balances. Now, here's the thing.
2:16
Whether you're using a bloom filter or whatever crypto kid,
2:20
the matter of fact is that when you in order for you to check
2:25
your Bitcoin balances, right? Guess what?
2:28
You have to send your address. Uses corresponding to the
2:32
addresses that you're sending to them.
2:34
How else would they check your balances right now?
2:37
Here's the thing, just by having the address right of the of the
2:42
of the addresses that you requests their node, to send
2:45
them back to you just by having those addresses, you could track
2:49
every single transaction that you have done from that address,
2:53
you're sending your addresses to someone else's node.
2:57
They can imply from that. That those odds are Is obviously
3:00
belonged to you and they could also see which IP you're coming
3:04
from unless you're using a VPN. The point is you should not be
3:08
docks in your Pub files or your addresses to anybody, which is
3:13
exactly why you should be running your own goddamn Bitcoin
3:16
node anyways, and it also gives you voting power, right?
3:20
Because back in the day, when back in 2017, when the whole
3:26
block were saying was happening part of the reason that Us us
3:32
you know, plebs were able to win the block size.
3:34
War was because enough people were running their own nodes and
3:39
therefore gets got to decide which software to run and which
3:44
software not to run. We all know how that ended up
3:48
right Bitcoin cash loss. Be it, Bitcoin SV loss and
3:53
Bitcoin one so running your own node.
3:56
Not only gives you voting power. It also gives you Sovereignty
4:00
and control over your own privacy.
4:02
Your own wealth. It lets you be your own bank.
4:05
If you're using someone else's you're at the behest of that
4:08
person. So creep, do kid, I think you're
4:12
wrong bro. But anyways feel free to comment
4:14
on this video and tell me what you think.
4:16
Phil, yeah, I can look I can appreciate his comment.
4:21
I obviously, I don't think that, you know, you're wrong but I
4:26
think that the point here is, is that Regardless of the Privacy
4:32
measures that you take, you shouldn't be advocating for
4:36
using someone else's node like using someone else's node in
4:41
order to check your Bitcoin or to, you know, do any
4:44
transactions or to be able to verify any transactions.
4:50
It's just that's something that you should only do.
4:53
If you really have no choice, you know?
4:56
Like I that's why that solution exists, right?
4:58
It is Solution. But in no way shape or form is
5:04
it a you know like an argument point to say?
5:06
Oh well, you know because I'm using these privacy tools.
5:10
It's okay that I'm connecting to someone else's node.
5:13
To do all of my quote unquote bit coining.
5:16
I just don't I can't buy that so I can appreciate his comments
5:20
about the privacy but never I mean look you should be running
5:24
your own node there is full stop.
5:27
You're still doxing, you're still not passing those.
5:29
Those addresses, those addresses, you have to send it
5:32
to some to another node which has a copy of the Bitcoin
5:36
blockchain in order for them to tell you what the balance of
5:40
those corresponding addresses are, right?
5:42
That's just a matter of fact, right?
5:44
So do you want people having that information where if you
5:48
run your own node? No one knows anything.
5:50
No one knows what your balance is are no one knows, you know
5:54
who your transacting with because think about it if
5:56
someone has your address They could essentially track what
6:00
that address does, right? So that's what I mean by
6:03
tracking transactions. You should always run your own
6:06
node. You could either build one or
6:08
you could buy one that's already made.
6:10
Like the noddle. It's a great one.
6:12
We both Phil and I have both use it ourselves.
6:14
But anyways, Phil do we have enough time for a number?
6:17
No that was I think that was a whole good segment.
6:20
We went, I don't know, I don't know.
6:23
We could save it, save it for tomorrow.
6:25
I just I don't know if we went either too short or too long
6:28
anyway. Let me show this real quick, but
6:29
we'll go will rush through this Phil.
6:31
Okay, so, check this out and distribution of lightning
6:34
payments volume and 2022. The majority were private
6:38
payments, that's absolutely awesome.
6:40
Trading, / deposit withdraws. Honestly, I hope that goes up
6:44
and Merchants payments and gift cards.
6:47
Really, really cool. And last one, right?
6:50
Payment volume and payment count on the lightning Network and it
6:54
continues to do what we've been saying for a And 10 percent
6:59
year-over-year growth. Lightning network is going
7:03
parabolic so the price might be stuck in time.
7:06
Like it is today, but in the background a lot of big things
7:10
are happening Phil very quickly. What are your thoughts, dude?
7:15
That just made me super bullish. Okay look, just very quickly.
7:17
This is signal. Okay while everybody's paying
7:20
attention to the noise, everyone's watching the
7:22
political scene, the wars, the interest rates, oh my gosh, the
7:25
economy, guess what, the lightning network is.
7:28
Continually growing. Okay.
7:31
So people are putting their liquidity at work and they're
7:33
building apps on Lightning. So anyways Phil it's time for
7:40
the daily fail brought to you by Ember app.
7:44
Check them out a DOT app. Look we're sitting at 40 K.
7:47
We're all stacking. I don't think it really makes a
7:50
difference. 20K 60k. We're stacking low fees, Fair,
7:54
spread smart automation a stacking up.
7:56
By bitcoiners, the link is down below.
7:58
Below ammo smart ways that sense, you know, when we all
8:03
think of, when we think of fairy tales, usually we think of some
8:07
really nostalgic time. We think of something wonderful.
8:10
But you know, what's this shit coin?
8:13
This platform just gave us gave us something to think about,
8:17
okay? I remember really enjoying Jack
8:20
In the Beanstalk. When I, when I used to hear that
8:22
story as a kid, unfortunately it, I'm sure it didn't end in a
8:26
rug pull though, I don't remember the rug pull.
8:28
End of the story. I remember Jack cuts down the
8:30
Beanstalk and becomes the hero and lives happily ever after.
8:33
But in this case, something went wrong.
8:36
Anyways, let's dive into it. We got tagged by so many people
8:39
got tagged by. See the ocean on earth.
8:40
We got tagged by Hans films tagged by a whole bunch of
8:43
plebs. Anyways really appreciate it
8:45
guys. Let's dive into what happened to
8:47
the Beanstalk Farms protocol. All right, so this is a tweet
8:52
tweet Storm from Frank researcher, the new popular,
8:56
Beanstalk Farms, protocol lost. And 81 million in today's
9:00
exploit, but the attacker only gained 76 million.
9:04
I'm also reading 80 million. So, just giving everybody a
9:07
heads up that it's approximate. Let's figure out what happened.
9:11
Now, before I dive into this, I just want to let you know, for
9:13
the bit, you know, almost everybody.
9:15
I'd say 99% of the people that watch this are Bitcoin only and
9:19
I know that there's some that do shit coin, but I apologize for
9:22
the brain-melting that is about to happen, okay.
9:25
Yeah because this is there's a reason why we Waste our time,
9:29
shit, coining. There's a reason why we call it
9:30
a casino and a clown circus and all this stuff.
9:33
Let's dive into it, alright. The main protocol contract has
9:35
been completely emptied user funds have been withdrawn, 36
9:39
million being .54, eith being univie to LP tokens 33 million
9:45
in Ethan, 32 million and bean. Seventy nine point two million
9:48
and being 3 C RV. F curve tokens. 1.6 million be
9:54
Nell USD curve. LP tokens.
9:58
Okay. The exploiter was funded from
10:01
the synapse protocol Bridge after that they created the bip
10:05
18 proposal to donate 250k Bean to Ukraine which was faked
10:10
before execution. Okay so people are reading
10:12
somewhere that this this attacker donated to Ukraine that
10:16
that was never true. It never actually went through.
10:18
Okay, they used a flash loan once again, right.
10:22
We've mentioned the flash loans in almost every single one of
10:24
our exploits. What a shock, they use the flash
10:27
loan to get. Alien die, 500 million USD, see
10:30
and 150 million USD tea from Avi 32 million bean from Eunice swap
10:36
to and 11.6 million L USD from Sushi swap.
10:40
So they just used all the platforms and just cleaned out
10:42
as much as they could further they deployed and voted for a
10:46
fake bip. 18 that moved all the funds from the podium from the
10:50
protocol contract to the exploiter The Next Step was
10:53
removing liquidity. Repaying flash loans and
10:56
converting all receive funds. He's into twenty four point.
11:00
Eight thousand rapt ether, approximately 76 million that?
11:05
Went into tornado cash which is some shit coin mixer.
11:09
Now, I want you guys to keep in mind, somebody was able to do
11:11
this. Somebody was able to create a
11:15
set of rules that forced all the money out of the protocol
11:19
contract and directly to their own wallet, okay?
11:22
That I just anyways this is absolutely mind-boggling.
11:26
Okay so we're just going to dive To this little piece of an
11:29
article, that relates to the story, right?
11:32
So, this is essentially, this is more details about the hack.
11:34
So the case was, not a technical hack per se, but an exploitation
11:39
of a design flaw in the governance procedure.
11:42
All these shit coins. Many of them have these stupid
11:45
governance tokens and so many of them get rug died as a result of
11:49
them. The same governance procedure
11:51
that put Beanstalk in position to succeed.
11:53
Was, ultimately its undoing. Oh my gosh, who would have
11:57
thought? So called flash loans are made
12:00
when users borrow massive sums of stable coins without any
12:06
collateral. That's right.
12:08
Zero skin in the game and was able to go and withdraw millions
12:15
of dollars. Now, look in the traditional, in
12:17
a traditional trading system, there is something called naked
12:22
shorting, okay? So essentially this person was
12:24
able to go and withdraw all of that liquidity without providing
12:28
Even remotely close the amount of liquidity, if any at all.
12:32
Okay. Now in the world of stocks,
12:34
there's something called naked shorting.
12:36
Naked shorting is an illegal practice of Short Selling shares
12:40
that have not been affirmatively determined to exist.
12:43
Ordinarily Traders must borrow a stalker determine that.
12:46
It can be borrowed before they sell it short.
12:49
So, naked shorting refers to short pressure on a stock that
12:52
may be larger than the tradable shares in the market, okay?
12:57
So before we move to the next Fail.
12:58
What this has to do with is essentially this person was able
13:03
to out of absolutely nothing gained over 80 million dollars
13:09
worth of liquidity and pull it out in traditional stocks.
13:13
You could never pull this type of shenanigan because number one
13:16
it's been made it illegal and they put they put circuit
13:19
breakers in so that that actually can't happen, Okay?
13:22
You can't sell shares. You don't own, but this person
13:25
was able to sell shit coins. They didn't own Okay, so again
13:30
we go back to something. We were talking about yesterday,
13:32
you know, we're not a fan of regulations, you know, it.
13:35
But at the same time, there is a reason that you can't pull this
13:39
shit on bitcoin, okay? This is Shenanigans, this is
13:43
fuckery. Okay, there is no need for this.
13:46
You absolutely can gamble, okay? But it can be done on a proper
13:50
platform where you don't get rug pulled anyways.
13:54
I just I definitely feel for the people, you know, that gets
13:58
screwed. In this stuff, but we keep
14:00
telling everyone, you know, these are not safe platforms.
14:02
This is not the future of money. D, Phi is just a made-up term,
14:07
okay? By a bunch of charlatans
14:09
scammers. Yeah.
14:10
Okay. And this and the fleecing is
14:12
just keep coming. Anyways, know your thoughts on
14:14
this one, dude. You're think you fucking nailed
14:16
it. Phil II spot on.
14:18
And you said something really, really wise, right?
14:21
Which like you always do, which is essentially, this doesn't
14:26
happen in Bitcoin this does not happen in Bitcoin, right?
14:31
So don't let these people and this is why we dedicate an
14:34
entire portion of this show because YouTube is literally a
14:39
sea of shit. Coiner e and a sea of people
14:43
that are willing to pedal and willing to make you believe that
14:47
cryptocurrencies are equivalent to bitcoin Bitcoin, No One
14:51
controls it. The monetary policy as fast as
14:55
figured out how to separate the monetary policy away.
14:58
From humans. They tried to take it back
15:01
during the fork Wars, they failed unsuccessfully.
15:04
I might add with all the other shit coins.
15:07
Whether it's a smart contract with their, it's a day or
15:10
whether it's decentralized Finance, which really isn't
15:13
decentralized, right? It is controlled by an elite
15:17
group of human beings that have significant influence over that
15:22
money, right? Whether it's, you know, the
15:25
deflationary in for an inflationary policy Policy of
15:29
ethereum of italic wanting to make it proof of stake and never
15:32
being able to whether it's Brad. Garlin house attacking or next
15:37
RP guys attacking Bitcoin because it's not environmentally
15:40
friendly, right? Or whether it's one of these
15:44
fucking Dow creators that, you know, put some nefarious little
15:48
code a backdoor into that so that they could just drain those
15:52
those accounts. Man, the point is, is that this
15:56
doesn't happen in Bitcoin and And all the other shit coins.
16:00
This is why we cover it. I hope some of you at least a
16:04
small fraction could learn. You know, especially because
16:08
Phil and I have made these mistakes and Phil and I would
16:11
both have significantly more Bitcoin today.
16:16
If we did, if we avoided the shit coining altogether, right?
16:20
And dude, there's that really, there's that really famous
16:23
picture that really famous mean. We showed you a couple episodes
16:26
ago. I'm going to try to find it,
16:28
I'll It up. But anyways, Phil, what is the
16:29
next fail? All right, here we go.
16:32
This is, it just gets cringy or man.
16:34
The central Bankers are completely insane clowns and we
16:39
just keep getting hosed. Here we go, here we go.
16:42
Let's take a look at this tweet from the bank of international
16:45
settlements. Get ready, Nico the the the
16:49
mental gymnastics are are just off.
16:51
The chart cdc's can help overcome some barriers facing
16:56
the unbanked, right Augusta. Augustine Carson's and hm, queen
17:00
máxima of the Netherlands, the United Nations Secretary General
17:03
Secretary General's, special advocate for inclusive Finance
17:07
for development, okay? Want you to think about that
17:10
inclusive Finance for development?
17:11
Like see this is a great thing about Bitcoin.
17:12
Bitcoin is completely voluntary. It is the most inclusive
17:15
currency in the world. And these people, these people
17:19
cannot because they know that they are completely useless
17:23
without it. Now, I want you to think about
17:26
this because this is really the the No.
17:28
Here they can help some barriers facing the unbanked.
17:34
And they want to be inclusive, right?
17:37
But also them also, them Bank of international settlements.
17:42
Considered the Central Bank of Central Bank said on Thursday,
17:45
it was suspending, the bank of Russia deepening moscow's
17:48
Financial isolation over its war in the Ukraine, the access of
17:54
the Central Bank of Russia to all be is Services.
17:56
Meetings and other be ice activities has been suspended.
18:00
So the the mental hypocrisy that We end up.
18:06
Going through from these insane Central Bankers, I think is
18:11
detrimental to everyone. These people, they are not
18:15
helping the unbanked. They are not inclusive.
18:18
This is an exclusionary system. Okay, that that's exactly what
18:24
this is. And of course, Nico, you know
18:26
me, I had no choice, I had to respond something, right?
18:29
Like I get totally triggered by this crap.
18:33
Tell us in detail how an exclusionary centrally
18:36
controlled System, which helped create the unbanked, will
18:39
somehow help them to be not unbanked, okay?
18:44
And that is the honest to God. Truth their system.
18:47
Their exclusionary system is what actually creates these
18:52
different pockets of unbanked people.
18:55
How the hell are you going to help them?
18:57
They're not. It's a story.
19:00
It's a fairy tale that we all watch.
19:03
And for some reason, there's a giant portion of the population
19:07
that chooses to believe in this. And for me like, I actually find
19:14
it much more uncomfortable to believe in a complete, fairy
19:19
tale, from a bunch of psychotic, Central Bankers, that are
19:24
literally buying up the Old fur. Fractions of a penny from
19:29
everybody stealing it. Essentially stealing it from
19:31
everyone without anybody knowing it.
19:34
Then take my chances with with something like Bitcoin.
19:36
Yeah. That everybody participates in
19:39
that everybody can have a fair shot at storing.
19:43
Their value. Remember not everyone is going
19:45
to earn necessarily the same amount of Bitcoin.
19:47
Everybody has a different capacity for earning.
19:51
There's nothing wrong with that. We are all different humans.
19:54
But what's important is that Every single one of us,
19:57
regardless of our intelligence level, our class, whatever the
20:00
fuck it is. Okay, we can store our value
20:04
equally. Yes.
20:05
And this is what matters. And these people are complete
20:10
freaking enemies of this Freedom.
20:13
Hmm, because it goes back to what I was saying, and Phil you
20:18
did an excellent job by the way, it goes back to what I was
20:21
saying yesterday, in terms of the central, Planning ideology
20:27
of these institutions. Whether it's the IMF right?
20:32
Where the head of the IMF literally graduated from the
20:34
University of Karl, Marx, right? I wish I wish that could be a
20:38
joke but it's not right. Whether it's kind of the central
20:41
plant, think about it. Central Banking, it has it in
20:45
the name, Central Banking, why? Because it's centrally fact,
20:49
centrally planned, right? Or this idea that Millions upon
20:54
Millions upon millions of Jules. And now they have the tool in
20:58
order to do that, without a central party, are able to make
21:02
better decisions about themselves and time and time.
21:06
Again, it had showed right, that Central Banking that sorry that
21:11
centrally planned things, fail. The free market millions of
21:16
individuals making their own decisions does better.
21:19
But before Bitcoin, that was almost impossible.
21:23
Right there had to be a central Institution.
21:25
Shit after Bitcoin, these people are no longer needed and that's
21:31
why they're literally running around like a chicken with its
21:35
head cut off, right metaphorical headless chickens.
21:39
But you guys get my point, right?
21:41
So, and, and look, I'm gonna read you a safe to draft tweet,
21:46
right? Which kind of like, encompasses
21:48
a little bit of a what Phil was saying and it says politicians
21:52
weaponize, / politicized, the money also.
21:55
Politicians, surprise, countries want to drop that money.
21:59
Surprise citizens. Don't want to use that money in
22:02
the first place right versus Bitcoin, where people use, it
22:07
following their own incentives. No coercion required, why?
22:11
Because it keeps your value over time.
22:14
And the central planners, they need you to use a money that
22:19
steals from you and order for them to fund themselves and the
22:23
bureaucracy. But anyways, Phil I think that
22:26
was a good bit that that would that was definitely good, but I
22:29
just wanted to add one thing okay, which it just blows my
22:32
mind if you have to tell people that a system is inclusionary.
22:37
Then it's not. Like I just don't understand why
22:40
they fight attend. Why they fighting participate
22:43
Bill, why they fighting. Why are they fighting Bitcoin so
22:46
much? And I just think they're
22:48
exclusionary system because it's not about inclusion.
22:51
It's about fucking power and they hide behind that moral
22:54
virtue bro. It is Bullshit.
22:57
Anyways Phil it's time for the daily meme review brought to
23:01
you, by Citadel 21, they make the best Bitcoin cult Rosine its
23:06
stories articles Comics by actual Bitcoin plebs and this is
23:11
volume of 10. It just came out.
23:13
This is volume 11. Every volume has different
23:16
artwork but they're scarce. There's only 1000 copies made
23:19
per per volume, so get your print of Citadel 21 today before
23:24
they run out. All right, everybody First meme
23:26
is brought To Us by a ronin, a modern Ronin.
23:30
I like that. Brad some me.
23:32
This Bitcoin. Do me a favor.
23:36
Write down all the assets. You own that could be
23:39
confiscated. I can't think of any exactly.
23:42
Oof. Very nice, very nice.
23:45
Okay dr. Bitcoin MD shout-out friend of
23:49
the show. Pictured shit coiners, thinking
23:50
they're doing something remotely challenging and worthwhile.
23:56
This is great for anyone who doesn't get it.
23:58
This is an amazing series is called the queen.
24:00
It's called the Queens Gambit on Netflix and it's about this like
24:04
this young women, chaste Protege, right?
24:09
But here's just playing checkers, right?
24:10
Because it's making fun of the shit Corners, anyways.
24:13
Anyways, Lena see? You bring the fire right, Samson
24:17
Mal? You found yourself an awesome
24:19
fiance good for you brother. Happy Easter help the little hot
24:23
Oilers. Find the missing Bitcoin Easter
24:26
eggs for a chance to win a very special plushie.
24:28
See below, I'll pick a winner among those who find all 5
24:32
Easter eggs. So you guys could do that on
24:34
your own time, but the point is, let's check it out.
24:37
It's a cool little. Oh, I found one right here.
24:41
Yeah, one Easter egg. Oh, I got another one.
24:45
Two, three, four, five, I found them all.
24:49
Anyways, moving on, this is by half-court, Darth coin,
24:54
identified myself as a psychopathic toxic my contracts
24:58
e, killing Bankers. I'm a fixer.
25:02
Dude, that is, that is freaking great, man.
25:05
That's a beautiful piece of art. All right, moving on, next one.
25:08
Bye Patrick. Let's check it out.
25:10
Definitely fellow pleb. Its title mirror.
25:13
I met a fellow memer pleb. Me merp lab in the trenches,
25:17
with, with us. Fighting the trench warfare.
25:20
It is time to go. Wait, is my son winning?
25:25
Always has been absolutely hilarious.
25:27
Alright, moving on. Another one by Lena, sheesh.
25:31
I want to access my money. My cell, my stolen by Sal.
25:34
I want to access my money. No, I want to invest my money.
25:37
No. I want to save my money?
25:39
No, I want to fix the money? No.
25:42
Oh, and he changed because he's a bit.
25:45
Owen cash supporter. He changed the Bitcoin to Vic
25:49
coin, cash. Wow, so that's some so not only
25:52
do I know he sucks. We shall going.
25:55
Wow, I did it. I didn't notice the last part
25:58
anyways. The via the Fiat surveillance
26:01
economy home mining. So freaking good.
26:09
Awesome means for that for those awesome memes.
26:12
I'm gonna give this can't go wrong with this score.
26:15
It is an orange special edition opened.
26:19
I'm it says you gave me one. Yep, I did on the back it says
26:23
legal tender on the blockchain and some question marks and some
26:27
countries question, mark the trolling that trollese great
26:32
shout out mvk anyways. Field.
26:36
Philippe, Philippe. What would you give those memes?
26:39
Oh, get ready. Okay.
26:40
So look, those were awesome memes.
26:42
And for those memes, I am going to give it this very rare or I
26:46
think it's rare and awesome sticker by an awesome Bitcoin,
26:50
ER, Evan kalidas, I'm talking about soups, it's right, it's an
26:55
awesome Zeus thicker very good, high quality sticker to good,
26:59
good like multiple layers on it. Good, good scores for some good
27:02
memes. Overall, thank you plebs.
27:04
Thank you. Thank you for joining our
27:07
telegram group linked us, some tank tank tank Bitcoin memes to
27:10
review if you haven't already done.
27:11
So the link is down below, it's a dank telegram group, you're
27:15
not going to want to miss it. It's the it's the official
27:18
simply Bitcoin Channel, very cool stuff and of course make
27:22
sure to comment, comment comment, help us defeat the shit
27:25
coin shit. Coin casino on YouTube help us
27:29
defeat those channels. Try it to help us push the pleb
27:33
signal, of course, make sure to Subscribe to us an alternative
27:36
video platforms, like, Rumble.com, and our personal
27:39
favorite Bitcoin tv.com. They don't censor their because
27:42
it's Bitcoin TV. Anyways, Phil it's time for the
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28:15
So if you've been keeping up with this show I've been telling
28:20
you that Bitcoin really in the last six months to a year has
28:25
become political. That means that politicians are
28:29
going to try to embrace it. To try to get a lick elected
28:33
themselves, right? You have high profile ones like
28:36
Senator Ted Cruz, right? You have Elizabeth Warren on the
28:39
other side, trying to fight this, right?
28:42
And you have a you have a governor Ron DeSantis does
28:47
actually he could he is a good. He's he's a potential Republican
28:53
candidate for president that actually has a chance of winning
28:56
the nomination and this guy right supports bit.
29:01
Wait, that's absolutely huge, right?
29:04
So anyways, the reason I want to talk about this today because
29:07
this was huge. First of all, I'm fine with
29:10
making Bitcoin legal tender in the US.
29:13
That's I think, the highest-profile Paul American
29:17
politician that has said something like this, but I would
29:20
also like to remind everybody, right?
29:23
That remember, Bitcoin is a nonpartisan issue.
29:28
This is bipartisan helps both sides, right?
29:31
Helps the side, the right in the in the sense, that sovereignty
29:35
and dependent, you know, get away from me government and then
29:38
it helps the people on the left because it helps the people that
29:41
get most hurt by inflation, right?
29:44
Which is the lower the lower end of the economic spectrum fill
29:48
and it is inclusive and right, right?
29:51
That this is what people do. Ya like that doesn't have to be
29:53
sold, right? Like it isn't cool.
29:55
If anybody can voluntarily join or leave the network correct,
29:58
right. It's so it's very inclusionary
30:01
it, you know, it protects it helps, people that are in
30:06
different places, all around the world that don't have access to
30:10
a stable currency. So this helps both sides of the
30:14
political pivot political Arena. The problem is right, is that
30:20
there has been a troubling Trend that I'm going to give ourselves
30:24
credit. It's something that Phil and I
30:26
picked up very early on and to my surprise, it was actually
30:31
mentioned at the Bitcoin conference.
30:33
I'm going to play a clip of that in a little bit.
30:36
But anyways, let's check this out because I agree with this
30:39
article, this is how Phil and I feel about this no Ted Cruz,
30:43
Bitcoin is not anti leftist. Bitcoin is a political I
30:47
completely agree with that. Right now in Canada has Freedom
30:51
Convoy, protests Republican, senator Ted Cruz triumphantly
30:54
took The stage to embrace Bitcoin in a recent highly
30:57
publicized CPAC event. We've played you that video by
31:00
the way, back in the day, in a typically pro-republican,
31:03
tirade, Crews, blasted his political opponents from Justin
31:07
Trudeau to Elizabeth, Warren to the Chinese Communist party for
31:11
opposing Bitcoin because of the desire to control the financial
31:14
freedom and civil liberties of people.
31:16
The only problem with Cruz Auntie left is spin on bitcoin
31:19
is that it is dressed up in pure partisan Malarkey, Bitcoin does
31:23
not care about your politics, it is Not against the progressive
31:26
left or the conservative, right? Or the political Center, Bitcoin
31:29
is a political and bipartisan. It's decentralized.
31:33
Nature means that no entity can alter its Network unless it's
31:36
gains. Broader consensus if Bitcoin is
31:39
for anyone, it is for the individual.
31:42
I completely 100% agree with that.
31:46
But here's the thing, Bitcoin also has this unintended
31:50
feature, right? That it tends to shine.
31:55
The light of Truth on everything.
31:59
I suspect that a lot of politicians on the political,
32:03
right. And on the political left, they
32:06
might hide behind certain things, but in reality, their
32:12
Quest is for for power. So, perhaps what we're seeing is
32:18
not necessarily A pushback from up, a lot of the politicians on
32:24
the left. Pushing back this idea of, you
32:27
know, oh, this is better, inclusive, inclusive money,
32:30
perhaps, they're pushing back because Bitcoin is a threat to
32:35
them. Right.
32:36
So I agree with this article because this is what Bitcoin
32:40
actually is, but you can't deny that more politicians on the
32:45
political left have been against it.
32:48
Not only, have they been against it.
32:50
We were actually some of the we were actually one of the first
32:54
bit. Point channels to identify this
32:57
worrying Trend and to my surprise, it was actually
33:00
mentioned at the Bitcoin conference.
33:02
Let's check it out. So, you know, anybody looking
33:05
back on the last decade of policy, not at that speed.
33:10
So, knowing that they'll be pushed back and looking back on
33:13
the last decade of policy interactions between the Bitcoin
33:18
industry. And in the broader crypto
33:19
industry and Washington certainly where we sit at
33:24
Kraken, we've been involved in this conversation.
33:26
But the thing that we've seen start to change the most, is the
33:30
partisanship over these issues, the partisanship over crypto
33:36
when the industry writ large started to engage in d.c.
33:41
We seemed better received by those on the right side of the
33:44
aisle. The, the it was the Republicans
33:47
that were first welcoming of this new technology and of the
33:51
industry being built around it. We started to see that change a
33:54
little bit. We started to see some
33:56
bipartisan ship but it's clearly not there yet Bitcoin.
34:02
Specifically, Bitcoin and crypto, broadly, it's still not
34:05
a bipartisan issue. Do you think we're headed in the
34:07
right direction? ER, is this doomed to be a
34:11
Polarized partisan discussion. I think we're heading in the
34:16
right direction. All right, I'll pause it there,
34:19
you know, that's Cynthia, lummis, you know, saying a
34:22
political answer? I agree.
34:24
I definitely think that there is more, you know, bipartisan work,
34:29
right? And you know, Dennis Porter, who
34:31
is also a content creator, you know, he's on the traditional
34:35
political left and I know that he's been making some moves, but
34:39
the point that I'm trying to make right, is that I agree with
34:43
this article, Hundred percent, but Bitcoin is shining a light
34:48
of Truth on certain things. So, the question that I have to
34:53
a lot of, you know, the political Senators on the left
34:57
hand side in the United States, and here is a great website that
35:01
really shows where everyone stands for pro crypto Senators,
35:04
Republican Republican, Republican Republican.
35:06
Republican, Senators against crypto.
35:09
Democrat, Democrat, Democrat. There's one Republican, and
35:13
there's another Or democrat. So again, it is a bipartisan
35:18
issue. This, this helps both sides of
35:21
the book political parties, right?
35:25
The perhaps some people on the political party would rather
35:30
maintain power than actually help those people that, you
35:35
know, would benefit from something like Bitcoin.
35:39
I don't know. And here's the thing, right?
35:42
This isn't a black-and-white issue, right?
35:45
I know that there's Republican Senators, that wouldn't benefit
35:49
from a Bitcoin standard, right? But clearly there's a Friend
35:55
here. And that trend is disturbing for
35:57
me, you know? And at the same time, I think
36:00
it's a really big deal that a very big mainstream u.s.
36:04
politician is would be open to making Bitcoin legal tender.
36:09
That is absolutely massive. I'm just concerned once again,
36:15
why is this becoming partisan? If it helps both sides of the
36:20
aisle politically as this Bitcoin shining, the light of
36:24
Truth Again. What do you think?
36:27
Phil? Yeah, I so look Bitcoin exposes
36:31
all of our incentives and the politicians.
36:34
They're no different, right? They may be close to the money
36:36
spigot. See without Bitcoin.
36:37
It was fantastic because their incentives wouldn't have to get
36:40
exposed. If they they paid enough money,
36:42
they paid the right people. You never find out what the
36:44
incentives are, because the story's gets spun in a specific
36:47
way, and everybody goes on Happily ignorant, but with
36:51
Bitcoin, they can't do this. So the Republicans on the other
36:56
The Republicans that support Bitcoin for the reasons of
36:59
quote-unquote, Freedom. If they aren't truly aligned
37:03
with these personal freedom ideals, It's Quickly going to be
37:07
found out. If and when Bitcoin becomes
37:11
legal tender in the u.s., in terms of the Democrats, right?
37:18
Look, I think the beautiful thing as you've said, right, as
37:20
we've said, multiple times Bitcoin is a political, but that
37:24
doesn't mean that every single human being Isn't going to try
37:26
to use it in the way that they desire, and that doesn't mean
37:29
that the politicians aren't going to use it in the way that
37:31
they desire. So look, I believe, you know,
37:34
from what I've seen I believe that, you know, the, the, the,
37:38
the leftist and the rightists, who, who require the money
37:43
spigot and require the money printing, at some point.
37:47
If they say, even if they support Bitcoin, it's going to
37:49
come out that they're fakes, but think about because and think
37:55
about how much The the the modern left-wing parties rely on
38:03
wealth redistribution. But there are some, but there
38:07
are some right? Some people rights and again,
38:09
they may be the less popular platforms.
38:11
They maybe they don't believe in the wealth redistribution.
38:16
But those are the silence, the ones.
38:17
I think those are going to be the lefties that come out in
38:20
really strong support of Bitcoin to say, you know what, this
38:23
really does, fulfill what we want.
38:24
The reason I'm going to be silenced the Reason I bring this
38:27
up Phil is because that would explain why there's more
38:33
pushback from the political left in the United States because
38:38
Bitcoin really does, right? Because the left is all about
38:42
big government State Control, right?
38:45
Is that could not be a reason as well, right?
38:48
Because it's like and and then it goes back to bitcoin.
38:51
Shining the light of Truth on everything are these with these
38:54
people on the left because There is more.
38:57
That's not speculation. That's a factual thing.
39:01
Are these Senators on the political left, more concerned
39:05
about including the little guy, and helping the little guy.
39:10
Are they more concerned about keeping power?
39:13
It applies to both sides, but I'm aiming that question
39:17
directly to our friends on the left as we have this
39:22
conversation, okay? I'm thinking that we are are
39:26
being a part of the problem between the left and the right.
39:30
Maybe what we need to do is reframe this as the politicians
39:35
that are for the money spigot and the ones that are against
39:39
the money spigot and Bitcoin, I'm serious.
39:41
Because this way, we can totally screw everyone.
39:44
That talks about the difference between the left and the right
39:46
because at the end of the day, all we care about are the
39:49
politicians that are truly for Bitcoin and not for the money,
39:52
spicket. Yes.
39:54
So you know, like, maybe I don't know, I don't know.
39:56
I just get really frustrated when they when, when the
39:58
politics gets dragged into this shit because look, what people
40:02
don't understand is that there's a lot of ignorant, there's a lot
40:04
of anger, ignorance out there, right.
40:06
And there's a lot of people paying attention to the
40:07
corporate owned media, so they get swayed by These stupid
40:10
arguments that make no sense. So I just anyways and Bitcoin is
40:15
already a very Niche. You know it's already a very
40:18
Niche thing so they're going to be able to like I feel like
40:21
they're gonna be able to bullshit a lot anyways.
40:24
No, no. I agree man.
40:25
Lot of bullshit. We'll see how this plays out
40:28
what, you know we're going to be on top.
40:29
We're and I tell this fill to fill to fill all the time.
40:32
This is going to end up becoming a little bit more of a political
40:35
Channel as time goes. I because Bitcoin is going to
40:39
continue to be More and more fucking political, right?
40:42
Which is why we cover so much geopolitics, so much, you know,
40:45
news and that sense. Because, dude, you know, if, if
40:49
we really want to separate money from State, obviously, politics
40:54
are involved in that process, right?
40:56
But anyways, we'll try to make it entertaining next one.
41:00
Another example of how Bitcoin fixes this, it helps the
41:04
individual, excellent. Excellent, excellent.
41:10
Article by no, Tyler Durden. I think the original was, it
41:14
might have been by Sam Callaghan, we had him the other
41:17
day. But anyways, so we'll give the
41:19
proper credit where credit is due.
41:21
But anyways, the name of the article and Zero Hedge, the
41:24
Turkish liras freefall, and the Bitcoin parachute 2021 and we've
41:29
been reporting on this for quite a while. 2021 was a rough year
41:32
for the people of Turkey, the country experienced rapid
41:35
evaluation of the current of its currency.
41:37
The Lira things haven't improved in 2022, as a Your has suffered
41:40
since Russia has invaded invaded, Ukraine as sanctions,
41:43
and Export bans, have resulted in soaring commodity prices.
41:46
According to official government reports, Turks are now suffering
41:50
54 percent year over year inflation.
41:54
The highest in 20 years that is absolutely devastating.
42:01
If you're not making as a Turk, if you're not making 50 Port 54
42:05
percent more of your salary, then you're losing money, you
42:09
made money, you made add less money last year.
42:11
This is what's happening in the US but not to these magnitudes
42:16
how to Turkey get here to put it simply since 2012, turkey has
42:20
suffered from taking on a large debt burden coming out of the
42:26
recession and this goes back to one of satoshi's quotes.
42:30
Why does Bitcoin fixes this? The root problem with
42:33
conventional currency is all the trust that's required to make it
42:36
work. The Central Bank must be
42:39
trusted. Not to debase the currency but
42:42
the history of fiat currency is full of those breaches.
42:46
This quote is 10 years old and get and look at this.
42:50
They're doing it once again. Anyways.
42:54
And what are the consequences of of the excessive money printing
42:58
by the government? The, it's not the government,
43:01
that pays the consequent consequences.
43:04
It's the people of turkey. Anyways, here are eight ways
43:07
that the Turkish authorities have tried to combat inflation.
43:10
So far price fixing it mid-January, the central which
43:15
we know doesn't work. Why does price-fixing not work?
43:18
Because you take the way the profit incentive.
43:22
If I'm not incentivise by that pursuit of profit then
43:26
essentially what you're doing is communism, right?
43:28
Make this you know. Because make this right and that
43:32
doesn't work, right? So they dropped foreign
43:35
reserves, right? They measured a mat by forcing
43:39
companies to keep some of their revert to revenues and liras.
43:44
So, not to dump, the Lira Turkish Sovereign wealth fund
43:47
which recently injected to billion.
43:50
So print even more money to combat investors hoarding
43:53
dollars to protect, you hear how crazy that sounds to combat
43:59
hoarders to cut. For the, for the Turkish state
44:02
to combat its own citizens, from trying to save their wealth.
44:07
Announced that that automatically if you had dollars
44:10
in Turkish accounts, they would automatically be converted into
44:14
liras to help you. Do you see how absurd the state
44:19
money serves the state? It serves no one else all it
44:24
does is steal from you. Anyways how does Bitcoin fix all
44:28
this? I'll tell you how are the People
44:30
of turkey protecting themselves much to the dismay again, much
44:34
to the dismay of the president. The people of turkey did not
44:38
heed his call to sell all their gold and dollar Holdings to
44:41
protect the falling nearer. The Turkish people are instead
44:44
seeking Refuge from the inflating Lyra and various
44:47
stores of value like real estate gold dollars in Bitcoin.
44:52
Thirty-nine percent said that they would invest in gold 18
44:55
percent that they would hold dollars.
44:57
Fourteen percent said they would hold cryptocurrencies.
45:02
I would love for those numbers to go up and I suspect they will
45:06
go up over time. And let me tell you why.
45:08
With this passage the fall of the Turkish lira is a prime
45:10
example of why 13 years ago, Soto she invented Bitcoin
45:15
embedded in the Bitcoin Network, Genesis blocks it.
45:18
So she sent a message that this creation was a possible solution
45:21
to Central Banking and the easy-money policies plaguing the
45:24
world, unlike gold. And the dollar, the Turkish
45:27
individual does not need to trust a third party to access To
45:31
the wealth preserving asset, no longer do, they need a bank
45:34
account bank account to protect themselves against inflation, on
45:37
top of that. Unlike gold and the dollar
45:40
Bitcoin cannot be easily seized by authorities.
45:44
And check this out, check, what would have happened if a Turk
45:47
started saving in Bitcoin versus the Lira check this out for the
45:53
last two years. Bitcoin has outperformed the
45:56
Lira by 768 percent. Road to the dollars, 100%.
46:03
So yeah, man. They're crazy.
46:08
It honestly to me reading that fill country's government
46:13
states, have no problem, holding their entire populations
46:18
hostage. If it means keeping up their
46:22
Fiat, Ponzi game alive to feed the bureaucracy.
46:26
And this is what I mean by the. The incentives are not aligned
46:30
between governments and the people that they're supposed to
46:34
serve and this is why. The state and the money have to
46:39
be separated. The incentives are not aligned
46:42
the Turkish president, literally admitted right then.
46:45
And there that he is literally willing to take people to combat
46:51
hoarders. You mean, combat people trying
46:54
to save money because of the policies that you implemented
46:58
printing too much of that money, they trusted.
47:01
And you not to do that. You did that anyways and then
47:04
trying to save themselves, you punished Push them even more by
47:08
converting money that supposedly there's into your shit coin of
47:12
which you printed infinite in an infinite amount of which caused
47:16
inflation that hurted. Your people like what the fuck
47:21
is that shit is madness. And there's another example
47:26
Soto, she nailed this, he nailed it in the Genesis block chancer
47:31
on the brink of the second bailout for banks ever since
47:34
then there have been I can't think of how many fucking
47:38
bailouts and I'm assuming there's going to be another bill
47:41
out here, sure. Lanka.
47:42
We reported two or three days ago, another country going
47:45
Bottom up, like, dude, and who loses, and all of this, the
47:51
everyday, common Joe. They get fucked while the
47:56
government. The politicians?
47:57
No, they're fine. Because they're at the top of
47:59
the money. Spigot, baby.
48:00
They don't get hurt. So yeah, man, this is what we
48:04
mean about the peaceful Revolution.
48:06
This is why we talked about how important it is to separate
48:11
money from money from state. Or Humanity will never be free.
48:16
These things will continue to happen.
48:19
Why? Because no one's better than
48:21
their incentives. Phil.
48:23
So yeah, as you were going through that story, I thought I
48:26
thought it was really amusing. If we zoom out, right?
48:30
He essentially the president wanted people to hold the ruble.
48:35
Okay, sorry. Wait, the Lira, I'm sorry I'm
48:38
thinking of Russia, he wanted them to hold the Lira okay and
48:43
the people instead went out and bought dollars Bitcoin and gold.
48:48
So what that tells you is it's a problem of Faith, right?
48:52
There is a problem of Faith. They these people, the people do
48:56
not trust the government rightfully so rightfully so they
49:00
don't trust the government but the government's are demanding
49:04
that trust. So this is interesting, right?
49:06
I think this goes back to and I know it seems kind of like, you
49:09
know, a little bit hokey, but, you know, people who were
49:13
people, respect people who respect themselves, it's kind of
49:16
the same thing with the government, right?
49:18
The people see that the emperor wears, no clothes.
49:21
They see that the government doesn't give a shit about their
49:24
best interest. So why the hell are these people
49:27
going to quote unquote, impoverish themselves in order
49:31
to supposedly keep the financial system alive, dude?
49:36
Like what are you talking about sickening?
49:39
It's like they breach that trust because printed more money that
49:44
was responsible and then when they fuck up the state
49:48
completely gaslights them and says no no no, we still need a
49:54
fuck you because you're not actually allowed to save in the
49:58
money. That's actually going to keep
49:59
value. That was the next piece.
50:02
I was gonna bring up. I'm like, I'm sorry, I'm sorry.
50:04
It's ok buddy. Got riled up.
50:06
I'm gonna totally riled up. I'm like, so in a second, but
50:10
then, but then they go and they save in the u.s. dollars and
50:12
then the government goes and punishes them.
50:15
Therefore, as into as individuals wanting to store
50:18
their value in dollars, it will literally steal it from your
50:22
bank account, and automatically convert it to the Turkish.
50:25
It coin likes the government work for Nico.
50:28
Who's the government supposed to work for?
50:29
That's the temple. It will never work for the
50:33
people as long as they control the money period.
50:38
And this is why Bitcoin has to win.
50:41
Well, like, if it does it more worse, more of this bullshit it
50:46
does incentives are just not aligned.
50:48
But anyways, feel there was an open source software release
50:50
date. When it's everybody about it
50:51
software releases, brought to you by Cipher safe.
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Check them out. Cipher safe dot IO guys.
50:58
He can't just store your seat on a piece of paper, it doesn't
51:00
just work. Like that, it can burn up.
51:02
Someone else can take it and write a grocery list on it store
51:05
your seed in the Cipher wheel or the all new Cipher grid.
51:09
They both come with a tamper-resistant wire but the
51:12
grid also comes with a punch tool.
51:15
We've got joined Market web UI version 0.0. 0.5, that was
51:21
released, that is down below in the show notes guys, don't
51:24
forget to check us out on our Audio, Only platforms, Apple
51:28
podcast, Spotify, and Our. And if you want to stream my
51:32
SATs yes you can stream us at Fountain dot f m-- through the
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breeze. Wallet.
51:37
Awesome. Thank you for all right guys,
51:38
that was our show before we go. I want to give a very special
51:41
shout-out to her awesome sponsor represent, L tv.com, Phil Knight
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where the hoodies every single day, they're super comfy and you
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can take advantage of the link down below to get 10% of
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anything off the represent LTD.com store that is as that
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was our show if You enjoyed the show, you know what to do
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smashed and of course you want to continue hearing the Bitcoin
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use from the pulley pleb perspective and the catastrophic
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fails from the central planner shit Corners.
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All of the above definitely consider subscribing to Simply
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Bitcoin and we'll see you tomorrow, guys, for a brand-new
52:19
episode, you're either for the money, spicket or your for
52:22
Bitcoin.