Latest / Simply Bitcoin / How Much Bitcoin Do You Need to Be in the 1% ? | EP 1142

Transcript

How Much Bitcoin Do You Need to Be in the 1% ? | EP 1142 · Simply Bitcoin

• 0:00
  Yo, today we are going to answer the question, how much Bitcoin
• 0:05
  do you need to be in the top 1%? This is a topic that you guys
• 0:10
  absolutely love when we cover. We haven't covered it in over 2
• 0:14
  1/2 months I think. So we're going to talk about
• 0:17
  that today as Bitcoin just crossed 100K for the first time
• 0:21
  ever. Everybody is now thinking it's
• 0:23
  too difficult to get into the top 1% of Bitcoin.
• 0:28
  I think I think guys like that could be true maybe five years
• 0:32
  from now. But as it stands right now, yes,
• 0:35
  the window is closing, but you could still definitely, you
• 0:38
  know, get to the status that you want to get to, which is the
• 0:41
  status of a whole coiner, right? I think we have reached peak
• 0:45
  hole coiners. I don't think there's going to
• 0:46
  be more hole coiners than there is today.
• 0:49
  And I'll get to my reasoning as to why that is.
• 0:53
  And these are all kind of things that I've been learning since,
• 0:55
  you know, being in Bitcoin for eight years now.
• 0:57
  I got in in 2016 and I've been able to gather a bunch of
• 1:02
  different data points to basically answer the question
• 1:06
  how much Bitcoin you need to be in the top 1%.
• 1:09
  Now, if you're part of one of the earlier classes, you know,
• 1:13
  class of 2024, class of 2023 or class of 2022, don't worry
• 1:19
  because I still have data in terms of Bitcoins long term of
• 1:24
  where where this is going. Because the fact is, is that the
• 1:26
  world has not waken up to the power of Bitcoin.
• 1:29
  The world has still not realized that Bitcoin is literally meant
• 1:32
  to go up forever, Laura. And that's an opportunity for
• 1:36
  anyone to get on the Bitcoin standard.
• 1:39
  So anyways, no more delay. I do want to bring up my
• 1:42
  legendary Co host, Optimist Fields, who's always optimistic
• 1:46
  and of course, our special guest for today, Nick Nicholas
• 1:50
  Hoffman. He's the head of news over at
• 1:53
  Bitcoin Magazine. We absolutely love those guys.
• 1:56
  So no more delay. Let's jump straight into it.
• 1:59
  First, let's start with the memes, shall we?
• 2:01
  This is a very famous meme that has been just making the rounds.
• 2:06
  You know, I believe this is like from the 2017 era or 2018 era.
• 2:13
  And you know, it's called the Citadel.
• 2:15
  And of course it has like the Pepe the Frog meme.
• 2:17
  And then on the, you know, on the right, it says the year 2028
• 2:21
  of the second age 1 Bitcoin is now worth $1 million adjusted
• 2:25
  for inflation. And then it, you know, it starts
• 2:28
  from the bottom right says the no coiner.
• 2:30
  Then it has, you know, the rope, the cope, the hope.
• 2:33
  And it's like .001 point 01 .1. And then I don't I can't say
• 2:38
  that word on, on, on YouTube. But let's say the the minimum
• 2:41
  stack, which is the one Bitcoin, they call it the barons, then
• 2:45
  the Lords, the the so-called the break it stack, it's the five
• 2:49
  BTC. And then the Earl stack is
• 2:53
  between 5 BTC and 10 BTC. And then the generational wealth
• 2:58
  is the 10 BTC or they call it the Marquis.
• 3:02
  And then you have the Princess which is between 10 BTC and 50
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  BTC and then between 50 BTC and 100 BTC you have the Dukes.
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  And then at 100 BTC you have the kings.
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  And then between the kings and the emperors you need about 500
• 3:17
  BTC. And to be an emperor, the
• 3:19
  so-called whale stack, you need 1000 BTC.
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  And then they have these two guys up top, you know, if you
• 3:25
  guys are, are familiar with Internet culture, you know who
• 3:27
  they are. I think they passed away
• 3:29
  recently too. It's kind of sad.
• 3:30
  But anyways, you need 10,000 BTC to be, you know, at the top of
• 3:34
  this castle. Anyways, here's more information
• 3:36
  from glass node. And it kind of breaks it down
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  into the shrimps, the shrimp, the crab, the octopus, the fish,
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  the dolphin, the shark, the whale, the humpbacks.
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  To be a shrimp, you need less than one Bitcoin.
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  To be a crab, you need between 1:00 to 10:00.
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  To be an octopus, you need 10 to 50.
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  To be a fish, you need 50 to 100.
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  To be a dolphin, you need 100 to 500.
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  To be a shark, you need 500 to 1000.
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  To be a whale, you need 1000 to 5000.
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  And to be a humpback whale, you need 5000 BTC.
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  Now, what's really interesting here is the numbers, right?
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  So it's estimated that roughly 22 million people are estimated
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  to be a shrimp. So someone that has less than
• 4:15
  one Bitcoin, there's roughly half a million people that are
• 4:18
  crabs that we have one to 10 Bitcoin.
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  There's roughly 72,000 people that have 10 to 50 Bitcoin.
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  There's roughly 11,000 people that have 50 to 100 Bitcoin.
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  There's roughly 10,000 people that have 100 to 500 Bitcoin.
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  There's roughly 1500 people that have 500 to 1000 Bitcoin.
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  There's roughly 2000 people that have 1000 to 5000 Bitcoin and
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  there's roughly 220 people that have more than 5K Bitcoin.
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  Now this kind of dives into a little bit more detail regarding
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  this specific subject matter. Again, this chart was created
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  back in 2017. A lot of this data was created
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  back in 2017. It gave me a lot of the
• 5:01
  motivations, right, to stack as much as humanly possible
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  throughout the years and it kind of breaks it down.
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  So to be I'm going to go to all the way up to the top 10%, but
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  essentially to be in the top .001% of Bitcoin hodlers, you
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  need roughly 7021 Bitcoin. There's roughly 250 Bitcoin
• 5:23
  owners that fit into that category.
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  To be in the top .003% percentile, you need 2189
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  Bitcoin. Roughly 500 Bitcoiners or
• 5:33
  institutions fit into that category.
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  To be in the top .01%, you need 433 Bitcoin.
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  Roughly 1750 Bitcoiners, 50 Bitcoin owners fit into that
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  category. To be in the top .03%, you need
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  215 Bitcoin. Roughly 5000 bitcoiners fit into
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  that category. To be in the top .1%, you need
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  89 Bitcoin. Roughly 17,500 bitcoiners fit
• 6:00
  into that category. To be in the top 1%, you need 15
• 6:05
  bitcoiners fit into that category.
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  To be in the top five percent, you need 3.99.
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  Roughly 250,000 bitcoiners fit into that category.
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  To be in the top 1%, you need one top 10%.
• 6:19
  I apologize. You need a 1.28 Bitcoin, and
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  roughly a quarter million people fit into that category.
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  And then it just goes down from here.
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  To be in the top 50%, you need .037.
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  To be in the top 20% you need .56.
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  Now I get what a lot of you guys might be thinking.
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  I understand especially if you're part of some of the newer
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  classes. You're like Nico, these are
• 6:46
  absurdly large numbers. What the F are you talking
• 6:50
  about? This is insane.
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  And what I got to say is don't worry because we still have a
• 6:57
  huge, huge Rd. in front of us. So what am I talking about?
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  This is so this is data from Credit Suisse and it breaks out
• 7:10
  the number of millionaires around the world.
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  And I'm just going to focus on the the lower kind of part.
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  So people that are worth between 1 to $5,000,000, there's 54
• 7:23
  million people worldwide that fit into that category.
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  How many Bitcoin are there? There's 21 million.
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  How many Bitcoin are lost? There's roughly 4 million
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  estimated that are lost. So it's really 17,000,000.
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  So if you do the math, if every Bitcoin, if every millionaire
• 7:43
  worldwide wanted to buy just one Bitcoin, they literally
• 7:46
  physically could not. So This is why we've keep saying
• 7:51
  so many times that, you know, do whatever it takes to get to that
• 7:55
  one Bitcoin. I know it's a lot of, I know, I
• 7:58
  know it's very expensive. It's $104,000.
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  We have been telling you for years now, but you know, if you
• 8:05
  put your mind to it, you work really hard.
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  I think you're going to have a two year window next year.
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  We're going to have the Parabola year.
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  And then historically, if Bitcoin continues to follow its
• 8:14
  historical patterns, 2026 is the year of a bear market.
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  And I think you're going to have another opportunity to buy
• 8:20
  roughly 100K Bitcoin, maybe even less than that.
• 8:23
  So you have two years to do whatever it takes to, you know,
• 8:27
  get to that one Bitcoin category, because I think that
• 8:30
  if you reach that one Bitcoin category, you're you, you know,
• 8:34
  I think you're going to be, you're going to be good.
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  You're going to be set for life. If Michael Saylor's prediction
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  and this is his base case, this isn't even his bull case of
• 8:41
  third of $13 million Bitcoin by the year, excuse me, 2045 comes
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  comes true. That's $13 million per coin, $13
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  million per coin right now to be considered top 1% in the United
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  States, you need roughly a 11,000,000 dollar $12 million
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  net worth, right? So if you're thinking long term
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  with one Bitcoin, acquiring one Bitcoin today, you know, could
• 9:11
  put you in, you know, the top 1% in the future.
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  And if you don't believe me, again, ask any bitcoiner when
• 9:18
  they were getting in. I got in 2016, I think my first
• 9:22
  Bitcoin was under 1000. It's like it's like 650 or
• 9:24
  $700.00. And I and I was like, dude, I'm
• 9:27
  so late because I knew people that were buying for less than
• 9:30
  100 or I need people that were buying for a couple 100.
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  And I was like, you know, like this is I'm, I'm super late.
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  And then, you know, I met people from the class of 2017 and they
• 9:42
  were buying in the thousands. And it was the same thing.
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  Like they thought they were super late.
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  And then I met people in the, you know, the class of 21 and
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  they're buying between 16 and 60 and they thought they were super
• 9:52
  late. Now we're sitting on 100,000.
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  It's like, were you really late? Like everyone's made like the
• 9:58
  class of, of 21. Like even if you bought the top
• 10:00
  and I totally bought the top myself, I always buy the top.
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  I think it's like a rite of passage for Bitcoiners.
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  You'd be up right now like hardcore, right?
• 10:09
  And then here comes like the last thing that I want to show
• 10:12
  you guys, which is the Luke Broyle's data set.
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  And he actually wrote a great article which you guys published
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  over at Bitcoin Magazine. And the, the theory of the case
• 10:24
  that he makes is essentially it's very difficult for human
• 10:27
  beings to think in exponential terms.
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  And like, if you think about technology, if you think about
• 10:34
  wealth building, if you think about like health, if you think
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  about like anything, it's very difficult to think in
• 10:41
  exponentials. Like if you look at like
• 10:43
  technological progress and human progress and human wealth, the
• 10:47
  vast majority of it has happened in the last 100 years.
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  So you know, 5000 years of human history, like wealth building,
• 10:57
  technological progress, healthcare progress, the vast
• 11:02
  majority of it has happened literally in the last 100 years
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  and it's going to just continue to accelerate.
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  It's going to continue to get more and more exponential.
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  From here. You have the introduction of AI.
• 11:15
  It used that came out of nowhere.
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  Like people forget like 3 or 4 years ago, you know, like there
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  wasn't an application, whether it's Crock or ChatGPT that you
• 11:25
  can just ask it questions to and it literally just answers like a
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  human, right that that they didn't exist, right?
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  And I'm old enough to remember like when I was in high school,
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  it was the introduction of the Internet.
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  So like, you know, I was using like BlackBerry Messenger and
• 11:40
  like whatever. And then people that are older
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  than me, you know, they didn't even have the Internet in high
• 11:44
  school, right? So it's like, could you imagine
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  a world without the Internet? So like this is what I'm talking
• 11:49
  about. It's very difficult for us to
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  wrap our heads around that. Now, the reason I'm telling you
• 11:52
  guys this is to kind of give it a little bit of context before I
• 11:56
  read you guys these numbers. But here is Luke Broyle's long
• 12:01
  term case in terms of how much Bitcoin you'll need for like the
• 12:06
  different classes in society. You know, whether you're a multi
• 12:09
  millionaire, a billionaire, a mega billionaire.
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  And these are his cases. And I think he has a really,
• 12:14
  really good case because if we're right about Bitcoin and
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  Bitcoin becomes a global reserve currency or Michael Saylor's
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  case where it becomes such a huge percentile of just global
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  assets, I think he's absolutely right, especially long term.
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  And if you're young, you know, if you're still in your 20s or
• 12:33
  you're in your late teens, like man, you have so much life ahead
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  of you, right? So anyways, it breaks it down
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  into different tiers. So on the very top you have the,
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  you know, the this very small percentile, what Luke calls the
• 12:47
  nation slash mega rich. And he said there's going to be
• 12:51
  10 entities that fit into that category and the average holding
• 12:55
  per entity is roughly 140,000 Bitcoin.
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  To be a multi billionaire slash small nation, you need roughly
• 13:02
  8000 Bitcoin. Roughly 200 entities fit into
• 13:05
  that category to be a billionaire slash mega
• 13:08
  corporation. Luke believes there's going to
• 13:11
  be 5005 thousand entities that fit into that category and
• 13:15
  roughly you need 120 Bitcoin to you know, to fit in there.
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  Now this is where things are like get exciting in my opinion.
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  To be a multi millionaire slash core large corporation, 65
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  entities will fit into that category.
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  You need 10 Bitcoin to be a millionaire slash.
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  You know regular company. Roughly 80 million entities will
• 13:35
  fit into that category. You need .06 Bitcoin to be a
• 13:40
  upper middle class. To be in the upper middle class,
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  you need .008 Bitcoin to be middle class, you need .001.
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  Now, I mean, it, it, it kind of makes sense because if you do,
• 13:53
  if we hit I, I think it's just a matter of time before we hit
• 13:55
  dollar SAT parity. You know, eventually, maybe 15
• 13:59
  years from now, whatever $10 million per coin, you know, 1000
• 14:03
  SAT's is going to be $1000, right?
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  So Luke's making the case basically you want to be a
• 14:07
  millionaire, just get .06 Bitcoin, which is the equivalent
• 14:11
  to 6,000,000 Satoshi's once Bitcoin reaches dollar SAT
• 14:16
  parity. Now I don't know how long that's
• 14:18
  going to take. Sailor makes the case that it's
• 14:20
  going to be year 2045 when Bitcoin hits, you know, when
• 14:26
  Bitcoin hits $13 million per coin.
• 14:30
  But I don't think that's such a a crazy, you know, prediction or
• 14:34
  a crazy, you know, outlook. I think if you watch some of
• 14:38
  Turda Meesters and I was actually talking to Doctor Jeff
• 14:40
  Ross yesterday episode is going to be released later on this
• 14:43
  week. And he was like mentioning the
• 14:46
  early videos of Tur de Meester talking about nation state
• 14:50
  adoption, corporate adoption. And mind you, this is when
• 14:52
  Bitcoin was like hundreds of dollars per coin.
• 14:55
  This was before the four quarters.
• 14:56
  This was before, you know, large institutional mining companies
• 15:00
  and and all the the expansion of the hash rate like Bitcoin was a
• 15:04
  lot more uncertain back back then.
• 15:06
  But because Tur understood the the game theory, he realized
• 15:10
  that it was inevitable. So I, you know, I agree with
• 15:13
  Luke. I what I can I tell you is the
• 15:15
  time frame. What I can't tell you is the
• 15:16
  time frame. I have no idea.
• 15:19
  And no one else does, right? So, yeah, guys, you love this
• 15:23
  content, you love this data, you guys love these types of shows
• 15:27
  every time we do it. So we felt like we would give
• 15:29
  that to you guys today. Let us know what you think in
• 15:31
  the comments. Let us know how much Bitcoin you
• 15:33
  need to be in the 1%. Let us know in the chat or if
• 15:37
  you didn't catch the video live, let us know in the chat in the
• 15:41
  in the comment section. So anyways, I'm going to pass it
• 15:43
  on Nicholas. I'm going to Nicholas.
• 15:45
  Wow, so I love that full name. I'm my name is Nicholas too, but
• 15:49
  I spell it a little bit differently.
• 15:52
  So, Nicholas, what are your thoughts on this man?
• 15:55
  You've, you've been in the trenches with us for a long
• 15:57
  time. We've all built our careers, you
• 16:00
  know, in the same industry, same field, We've all seen each other
• 16:02
  grow, You know, what are your thoughts on this man?
• 16:05
  Because it's a, it's a fascinating subject.
• 16:07
  It's an interesting subject. People love to talk about it,
• 16:10
  love, love to hear about it. So what's your take?
• 16:13
  I mean, yeah, like personally I when I first got into Bitcoin,
• 16:17
  it was 2017. So I only got in a year after
• 16:21
  you and I, when I first found Bitcoin, it was like $6000.
• 16:25
  And then I had the whole entire bear market, you know, 2018
• 16:29
  through 2020 to accumulate at around like 345K, you know, in
• 16:35
  that price range. So I definitely felt the FOMO.
• 16:39
  But when in particular in regards to this, this is also a
• 16:44
  stat that was circulating back then.
• 16:47
  And I think back at the time, if I remember, people were tweeting
• 16:50
  about like, oh, you just need .03 Bitcoin to be in the 1% or
• 16:55
  something, or something around that.
• 16:57
  And I was like, that's super achievable.
• 17:00
  So I would let it, I mean, setting those short goals in,
• 17:06
  you know, part of like your longer term plan of achieving
• 17:10
  one full Bitcoin, Like it just makes you want to grind so much.
• 17:15
  Like I was, you know, working extra hours.
• 17:17
  I was working weekends, I was doing odd jobs like shoveling
• 17:20
  snow, raking leaves, I was babysitting.
• 17:23
  I was doing whatever I could to get a hold of that 1% number and
• 17:28
  then, you know, work my way up from there.
• 17:30
  Because like the more you study Bitcoin and the more you really
• 17:34
  research it and not get a good grasp and understand it, you
• 17:38
  really start to and you know, you look at these numbers like
• 17:40
  everything you just showed, you really start to take in and
• 17:44
  understand this absolute scarcity.
• 17:47
  And Bitcoin is a very unique asset in the way that unlike
• 17:51
  gold and other assets, when there is an insane amount of
• 17:55
  demand from everybody, they can't make any more than 21
• 17:59
  million Bitcoin. There will only ever be 21
• 18:02
  million Bitcoin. My, my, my chair is it wasn't
• 18:06
  too expensive. I think it was only like 60
• 18:08
  bucks, but but yeah, the, the artificial scarcity of Bitcoin
• 18:15
  just constantly blows my mind. You know, you look today and you
• 18:18
  see like the ETFs, like BlackRock yesterday bought 733
• 18:22
  million worth of Bitcoin and they've been, they've had like
• 18:27
  14 or 15 days in a row of just constant inflows.
• 18:31
  And like you see it reflect in the price of there's just the
• 18:34
  price of this asset skyrocketing.
• 18:36
  And you know, there are lots of people out there who are getting
• 18:41
  priced out of owning a full Bitcoin.
• 18:43
  I think they, I mean, really, I think we've already hit that
• 18:46
  that threshold, to be honest. Like the average salary in
• 18:49
  America is like what, around $60,000.
• 18:53
  These people are bringing in 60 KA year.
• 18:56
  They have families they have to feed, you know, they want to
• 18:59
  take vacations, they have car loans, credit cards, you know,
• 19:03
  they have like their lives to live.
• 19:06
  They don't have 100 KA year to pile into Bitcoin.
• 19:09
  They could definitely do it over the course of a few years and
• 19:12
  get that one Bitcoin especially, you know, we go into a bear
• 19:17
  market in 2026 or late 2025, which I'm totally expecting.
• 19:23
  There's a lot more people today and I can ramble on and on and
• 19:27
  about this or we can talk about it more later specifically in
• 19:30
  regards to like the ETFs and institutional adoption.
• 19:34
  But every single day I'm just seeing more and more signs of
• 19:37
  people not just getting like, I'm not saying people are
• 19:41
  becoming more like Bitcoin maximus, but people are like
• 19:45
  people who used to FUD Bitcoin or be skeptical of it are a lot
• 19:49
  more accepting of it now. When I talk to people about
• 19:53
  Bitcoin, they're not like saying oh, it's a scam right away or
• 19:56
  oh, you know, energy FUD or insert whatever other FUD you
• 19:59
  know there is. People are a lot more open to it
• 20:02
  and accepting about it. And even BlackRock put out a
• 20:04
  video yesterday just going into in depth on that.
• 20:08
  That was super bullish. And I just think that people are
• 20:11
  starting to realize that they need to get some Bitcoin.
• 20:15
  And once they realize that, they realize that Bitcoin's a game of
• 20:18
  accumulation and you need to be stacking Bitcoin and just every
• 20:22
  single day make sure you have more sacks than you did the day
• 20:26
  before. Absolutely, 100%.
• 20:29
  Great words of wisdom from Mr. Hoffman.
• 20:33
  Opti, what's your take on this, brother?
• 20:35
  I mean, I remember the first years I did the same thing,
• 20:38
  Nick. I remember I, I was so hyper
• 20:41
  obsessed. I was taking 80 to 90% of what I
• 20:44
  was making and I was just dumping it into Bitcoin like
• 20:47
  like doing whatever it takes, you know, getting my my, which I
• 20:51
  think is a rite of passage to be honest, Like my account would
• 20:55
  like always go into the negative my my bank account.
• 20:58
  And you know, it doesn't happen as much these days, but you
• 21:03
  know, I remember for the first 2-3 years, I would just wake up
• 21:06
  every single day with this like dreading anxiety.
• 21:08
  Like, how do I stack as much Bitcoin as humanly possible?
• 21:12
  You know, so I. No, sorry, I, I was just going
• 21:16
  to say like, I know, like we used to joke around on Bitcoin
• 21:19
  Twitter way back in the day, like posting our screenshots of
• 21:21
  our bank accounts in the negatives 'cause we, we would
• 21:24
  always be having these stack offs on Twitter.
• 21:27
  And dude, I, I was a total theme for Bitcoin like I needed more
• 21:31
  and more of it. Like I would gladly work
• 21:33
  weekends and just do whatever I could to get more dollars to
• 21:36
  earn more stats. And like, I know that like a lot
• 21:39
  of people think this is like really stupid in my opinions may
• 21:42
  or may not have changed on it, you know, over the years.
• 21:45
  But like back in 20/17/2018 when I first found like the stock to
• 21:49
  flow model, I was like, I fully believed in it.
• 21:52
  And I was like, Oh my gosh, Bitcoin's going to be at 100K in
• 21:54
  a few years. Like this is something that I
• 21:57
  cannot wait on and like it it drastically it it will cause
• 22:02
  people to really rethink their life decisions.
• 22:07
  Like for example, at the time I was, you know, when I found
• 22:10
  Bitcoin, I was a senior in high school.
• 22:13
  And when I when I found Bitcoin and I really started
• 22:16
  understanding the scarcity of it and the value of it and where it
• 22:19
  was going, I was like, I kind of need to like change the course
• 22:22
  of my life. So like I kind of decided not to
• 22:25
  go to a four year university and I decided to work instead so I
• 22:29
  could accumulate cheap Bitcoin because I knew by the time.
• 22:33
  Who? Who told you?
• 22:34
  Who told you to do that, Nick? I mean, I had tons of people
• 22:39
  telling me I I I. I know you were.
• 22:41
  I know you. Were whispering in my ear
• 22:43
  telling me I should go on on Bitcoin and start the school but
• 22:47
  but yeah I mean I just saw it and I, you know, I recognize the
• 22:51
  opportunity cost and I said this cannot wait four more years or
• 22:55
  eight more years because I was planning on becoming a physical
• 22:58
  therapist so that was going to take like 8 years.
• 23:01
  I was like, in eight years Bitcoins going to be like, it
• 23:04
  could be like a million plus, you know, I don't know at that
• 23:06
  time. So I was like Bitcoin super
• 23:08
  cheap. It's like 3K per coin.
• 23:11
  I need to go all in on this right now.
• 23:13
  And I think over time I've only seen more and more young people
• 23:17
  do that and say that. And I think it the scarcity of
• 23:21
  this asset and where they, when they understand where they know
• 23:23
  where it's going, I really think it's going to cause people to
• 23:26
  rethink their life choices and kind of prioritize accumulating
• 23:29
  Bitcoin so they can have that nest egg going into the rest of
• 23:33
  their life. Absolutely.
• 23:35
  I think that incredible, incredible point Opti man, dude,
• 23:39
  so many memories. I'm I'm thinking about Nick's
• 23:42
  Nick's talking about this. I'm thinking about the, the, the
• 23:45
  2018 days when we were all in the trenches, you know, all,
• 23:50
  all, you know, holding it down on Bitcoin Twitter.
• 23:54
  Bitcoin collapsed from 20K to 3500 took an entire year.
• 23:59
  And you know, you make friends in the bear market.
• 24:01
  That's, that's the way it is. You, you, you forge these
• 24:04
  relationships that you never forget.
• 24:06
  So, Opti, what's your take on this man?
• 24:08
  How much, how much Bitcoin does someone need to be in the top
• 24:11
  1%? And what are some words of
• 24:13
  wisdom that you can drop on the audience that perhaps, you know,
• 24:17
  perhaps is from one of the earlier classes?
• 24:19
  Are they are they too late? Is it too late for them Opti?
• 24:23
  Well, I mean, I think the, you know, you put the data out
• 24:25
  there, so it's hard to really like argue the data there to be
• 24:30
  in the 1%, you have to have a certain amount of holdings.
• 24:32
  But I think the kind of theme of what we're talking about is once
• 24:35
  you kind of understand Bitcoin and you understand digital
• 24:38
  scarcity and you realize there's not that much Bitcoin, you even
• 24:42
  though people like to kind of compare themselves to the top
• 24:44
  wealthiest, you know, people in the world, it, it kind of does
• 24:48
  change a conversation where it's just like, OK, maybe I might not
• 24:52
  ever get to that 1% because I, I think rich people are always
• 24:56
  going to be rich. You know, you kind of have to
• 24:57
  have a lot of capital to come into Bitcoin to be in the 1%.
• 25:01
  But for average person, kind of what Nick was saying, and I
• 25:04
  think we all kind of go through this, you, you come into
• 25:06
  Bitcoin, you start to understand Bitcoin and then once you under
• 25:09
  like once it really clicks in your mind, you start to do
• 25:13
  whatever you can to acquire as much as possible.
• 25:16
  And it really does change the trajectory of your life.
• 25:19
  And I think that's kind of where we are right now.
• 25:21
  The, the culture that we see right now is very superficial.
• 25:24
  It's very much, you know, based on this idea that most people
• 25:28
  are living paycheck to paycheck. And when you understand Bitcoin,
• 25:31
  you might still be living paycheck to paycheck, but at
• 25:34
  least you are building a savings over time.
• 25:37
  And personally, before I found Bitcoin, you know, I was doing a
• 25:41
  pretty much normal job, but I just couldn't save anything.
• 25:44
  And just changing my personal behaviors and my perspective on
• 25:49
  savings and the cash flow coming in, it literally altered the
• 25:52
  course of my life. So for anyone out there, if
• 25:55
  you're newer to Bitcoin and you're still maybe fully having
• 25:59
  Grok Bitcoin, you're still kind of learning about it.
• 26:02
  The main point here is just a very simple mean of live below
• 26:07
  your means, You know, save as much as humanly possible, put it
• 26:10
  into Bitcoin and over the long term, your life is going to get
• 26:13
  that much better. And there's all kinds of means
• 26:15
  in Bitcoin. You know, everyone's kind of
• 26:17
  trolling Nick right now because he's got a nice chair.
• 26:19
  And they're like, I thought we were, I thought we were selling
• 26:22
  our chairs. We must be in a bull market.
• 26:24
  But that's the stuff you kind of you kind of think about.
• 26:27
  And actually I saw a tweet on Twitter like right before we
• 26:29
  went live where it was some something on the lines of like
• 26:32
  Bitcoiners are like the cheapest rich people I know.
• 26:35
  And that's kind of that's kind of like the model with a lot of
• 26:39
  Bitcoiners. It's like, yeah, do I really
• 26:41
  need to buy this stuff or am I just kind of building a nest egg
• 26:44
  for my future? And I think that is the
• 26:46
  fundamental shift is like, think a long term, don't get caught up
• 26:50
  in the Fiat rat race where you need, you know, got to keep up
• 26:52
  with the Joneses. You're buying all this wealth
• 26:55
  and, and status symbols to portray like you have some
• 26:59
  money. The real thing is can you
• 27:02
  survive on your savings in the future?
• 27:04
  And I think that's what most people need to kind of
• 27:06
  fundamentally shift. Yes, we like to kind of compare
• 27:08
  ourselves with like the richest people.
• 27:10
  It's it's definitely like an ego thing.
• 27:12
  It's like, man, can I ever get into 1%?
• 27:14
  You know, I want to be the new financial elite.
• 27:16
  And I think in reality, the, the main thing is kind of the like,
• 27:20
  F you money meme where it's like, OK, how much wealth do I
• 27:23
  need to be able to do what I want to do with my life and kind
• 27:27
  of not get caught in the rat race?
• 27:28
  And I think that number is different for every single one
• 27:31
  of us, But it is, it is kind of fun to compare your stack to
• 27:35
  like the richest people in the world and the richest people in
• 27:38
  Bitcoin. But I think it's all like an ego
• 27:40
  thing at the at the end of the day, it's, you know, get your
• 27:44
  cash flow up, save in Bitcoin and store that Bitcoin securely.
• 27:49
  And that's what matters. And just keep repeating.
• 27:51
  I think the message is don't take your foot off the gas.
• 27:54
  You always want to be saving in Bitcoin.
• 27:55
  I mean, Nick has, I think the the goatest, the most GOAT meme
• 27:59
  ever, which is I don't stack that for my first name.
• 28:02
  I stack that for my last name. And that's one of my favorite
• 28:05
  things to always remember is just like, OK, this is
• 28:08
  generational wealth after all. And I want to hold this for as
• 28:11
  long as humanly possible. Obviously, I want to live my
• 28:13
  life as well. I don't want to push push my
• 28:16
  life into the future for some imaginary day I might not get
• 28:20
  to. But I do also want to continue
• 28:23
  to build a nest egg. And I think it's important for
• 28:25
  people to kind of switch their operating system from the Fiat
• 28:28
  culture to a Bitcoin standard where, hey, I want to hold on to
• 28:31
  Bitcoin for as long as possible. This is going to be extremely
• 28:33
  valuable in the future. And that's the most important
• 28:35
  message is I don't think we understand how high this is
• 28:38
  going to go and you want to just hold on to whatever stack you
• 28:41
  have right now on the long enough time frame.
• 28:43
  I think it will be a substantial amount of wealth.
• 28:46
  And that's kind of how we should be thinking about this.
• 28:48
  A. 100%. I just want to touch on one
• 28:52
  point there. It's like, I think that's like a
• 28:53
  good point that you brought up is like when I was looking at
• 28:57
  these numbers, and I'm sure like most people watching us are
• 29:00
  probably thinking the same thing.
• 29:01
  But it's like when I was looking at the numbers of like what it
• 29:03
  takes to be in like, you know, the quote 1%, I wasn't
• 29:07
  envisioning myself as like, oh, I'm going to be this new
• 29:09
  financial elite. It was more kind of like, I just
• 29:12
  need to secure like, like what are my goals?
• 29:14
  And my goals are to like save enough money to have like a
• 29:17
  family, a car, a house in the future.
• 29:20
  Like those are three like very basic things that most people
• 29:22
  want. How, how am I going to get
• 29:25
  there? Because I need to save money and
• 29:27
  I need to beat the rate of inflation.
• 29:29
  I can't save in Fiat. So I need to save in something
• 29:31
  harder. I need to save in something
• 29:32
  better. So Bitcoin was just the best
• 29:34
  option on the market, like by far, like no close competitor to
• 29:38
  it. So it's like, how can I secure
• 29:40
  my future and my future, family's future?
• 29:43
  And that is by mass accumulating Bitcoin.
• 29:46
  I wasn't like, oh, I'm going to, you know, be flying around on
• 29:50
  private jets and, you know, being in the 1% or anything.
• 29:53
  Like I'm not going to end up working for Larry.
• 29:54
  Think of Black Rock, you know what I mean?
• 29:57
  It was kind of like, how do I just secure my own future?
• 30:00
  Absolutely no, it's as simple as that.
• 30:01
  And I think the American dream is, is live and well, as long as
• 30:06
  you're using Bitcoin as your unit of account versus the
• 30:08
  dollar, it's totally achievable to get that house to get that,
• 30:12
  you know, independence. And but you have to, you have to
• 30:15
  use Bitcoin as, as your unit of account.
• 30:17
  You have to, you have to switch over to the Bitcoin standard.
• 30:20
  Anyways, guys, there's almost 22000 of you guys watching live
• 30:25
  just on YouTube alone. We just broke 600 live viewers.
• 30:29
  Help us break 200 likes within the 1st 40 minutes of the show.
• 30:34
  So smash that like button if you guys are enjoying the show.
• 30:36
  Shout out to our Rumble audience and our ex audience as well.
• 30:40
  We have so much to get to. We have a video of BlackRock
• 30:44
  basically just making the case as to, you know, why you should
• 30:48
  buy Bitcoin. And during the new segment,
• 30:51
  we're going to talk about the SEC commissioner Caroline
• 30:54
  Crenshaw, who voted against the spot Bitcoin ETF.
• 30:58
  She will not be renominated to her position.
• 31:03
  You know, we've been saying elections have consequences.
• 31:06
  This is a huge election for the Bitcoin industry, the regulatory
• 31:10
  environment, and I think 2025 is going to be awesome in terms of,
• 31:16
  you know, the ability for entrepreneurs to do what
• 31:18
  entrepreneurs do best, which is build.
• 31:21
  But anyways, guys, before we jump into today's show and of
• 31:24
  course during the culture segment, we're going to talk to
• 31:27
  Nicholas. He recently just launched his
• 31:30
  personal X account for anyone, for anyone who doesn't know,
• 31:35
  Nicholas is a genius when it comes to X.
• 31:38
  But he you know, a lot of the, I would say a lot of us and most
• 31:42
  of the Bitcoin magazine, you know, things that they're doing
• 31:46
  in terms of their tweets and all that stuff.
• 31:48
  That's Nick behind the scenes, right?
• 31:49
  So he just launched his personal account and you know, definitely
• 31:53
  give it a follow. Nick's one of the best on on in
• 31:57
  the industry when it comes to this type of stuff.
• 31:59
  So we're going to talk about all that on today's show.
• 32:02
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• 35:22
  At the time of recording, the Bitcoin price is $104,600 block
• 35:27
  high at 875,330 sats per dollar. Under 1956 sats per dollar
• 35:33
  Market cap 2.07 trillion Bitcoin versus gold market cap 11.25%
• 35:40
  Percentage issued 94.27% decline from all time high -3.4%
• 35:46
  realized monetary inflation continuing to take Fiat
• 35:49
  currencies to absolute school. It's sitting pretty at 1.14%.
• 35:54
  So even if central banks managed to get the inflation rate back
• 35:58
  to 2%, Bitcoin is still winning anyways, guys, so Nick was
• 36:02
  mentioning, Nick was mentioning it earlier in the in the first
• 36:06
  segment about BlackRock releasing a a video in regards
• 36:10
  to Bitcoin. We actually have that video for
• 36:12
  you guys. We're going to play it and then
• 36:13
  we're going to have a discussion about it.
• 36:15
  Let's check it out. We've all heard about Bitcoin,
• 36:21
  but what exactly is Bitcoin? Let's start at the beginning,
• 36:25
  around 100,000 years ago. Throughout.
• 36:30
  History. We've used all kinds of objects
• 36:33
  to help make transactions and store value, from seashells to
• 36:38
  shiny metals to paper notes. That's because the value isn't
• 36:42
  just in the object itself, it's in how much we agree the object
• 36:46
  represents. So the object can be many
• 36:49
  things, even, as it turns out, a string of digital code.
• 36:57
  The Internet changed everything. It connected the world, changing
• 37:01
  how we communicate, work, shop and manage finances.
• 37:06
  It also opened the door to a new kind of currency and asset.
• 37:10
  Enter Bitcoin, a digital currency not governed by banks,
• 37:14
  Oregon governments or by its global community of users.
• 37:18
  And that provided new potential benefits.
• 37:24
  Bitcoin exchanges happened person to person anywhere in the
• 37:28
  world in near real time and for near 0 transaction costs, saving
• 37:33
  money, time and opening financial opportunity to those
• 37:37
  without access to a banking system.
• 37:43
  Bitcoin has a fixed supply of 21 million bit.
• 37:48
  All right, I'm literally falling asleep dude.
• 37:50
  I can't believe BlackRock, you know, came out with that video
• 37:56
  Like what? What is like, you know, it's so
• 37:57
  well done, very well explained. The production values great, by
• 38:01
  the way, broke 2000 live viewers almost 200 likes on YouTube.
• 38:05
  So smash that like button help us break 250 likes within the
• 38:09
  1st 45 minutes of the show. But what do you guys think about
• 38:14
  this? I mean, look, you know, it
• 38:15
  wasn't too long ago, like four or five years ago where Larry
• 38:18
  Fink was like Bitcoin is an index of, of, of money
• 38:22
  laundering. Fast forward five years number
• 38:24
  go up technology. And not only is he personally
• 38:27
  advocating for for it on legacy financial media, but now they're
• 38:31
  even just they're making up production videos to explain
• 38:34
  Bitcoin to their clients, which I will find absolutely
• 38:37
  hilarious. So Nick, what's your take on
• 38:39
  this man? You were talking about this
• 38:40
  earlier? Yeah, of course I, I wrote a
• 38:43
  little take on it on Bitcoin Magazine this morning.
• 38:46
  But this is like this ad later in the ad they talk about, they
• 38:54
  say one thing specifically. They focus on talking about
• 38:57
  Bitcoin in its current state today.
• 38:59
  And they talk, they say almost word for word or word for word
• 39:03
  if I'm I'm not mistaken. They say that Bitcoin is no
• 39:07
  longer the radical idea it was 15 years ago.
• 39:11
  Today, over 500 thousand, 500 million people in the world use
• 39:16
  crypto and over half of that is specifically Bitcoin.
• 39:22
  So this to me just signaled, hey, this is an $11.5 trillion
• 39:28
  asset manager. This is the largest asset
• 39:30
  manager in the world. There's nobody bigger than Black
• 39:33
  Rock and they're signaling to everybody saying, hey, this is
• 39:38
  important, this is worth your time and attention and you
• 39:42
  should be buying it. And one of the even more
• 39:44
  interesting things to me is, you know the Black Rock that they
• 39:47
  have an ETF and this ETF is the most successful ETF launch in
• 39:52
  history. There's not never been an ETF
• 39:54
  launch like this. And if you look at the
• 39:57
  comparison between Black Rocks and really the total net.
• 40:04
  Inflows for all the Bitcoin ETFs combined, you compare them to
• 40:08
  the gold ETFs. I mean, it just blows them out
• 40:10
  of the water. It's, it's no, it's really no
• 40:12
  comparison. There is so much demand for this
• 40:18
  asset and that's why it really interests me.
• 40:20
  Seeing BlackRock, the first thing they do in these
• 40:23
  commercials is they talk about Bitcoin being used peer-to-peer,
• 40:28
  like, you know, like, let's say it kind of feels like they're
• 40:30
  talking about it specifically in like developing countries, which
• 40:34
  and they, they say all these really good things about this
• 40:37
  asset, but the people buying the BlackRock ETF are not getting,
• 40:42
  you know, they're, they're not allowed to use Bitcoin in that
• 40:45
  way because they're just really holding the security.
• 40:47
  They're holding the security of the commodity.
• 40:49
  They're just holding shares of an ETF while BlackRock goes and
• 40:52
  actually buys the Bitcoin and custody custody use it with like
• 40:56
  Coinbase or whatever. The the people buying the ETF
• 41:00
  actually don't get those benefits of, you know, what
• 41:03
  makes Bitcoin freedom money, which I think is really
• 41:05
  interesting. But the way they market this to
• 41:09
  their target audiences is like, I think it's genius.
• 41:12
  I mean, you look at the video and they talk about if you go
• 41:15
  and watch the full video from start to finish, they talk about
• 41:18
  how money has changed over time from seashells and you know,
• 41:22
  other, other stuff. And they transition all the way
• 41:26
  to today. And it's like all I can think of
• 41:29
  is like they're all reading the Bitcoin.
• 41:30
  They must just all be reading the Bitcoin standard in their
• 41:33
  office. You know, they definitely took a
• 41:35
  a page out of safening book there and they found a way to
• 41:40
  distill it down into something that's easily digestible That I
• 41:45
  mean, I can see like my grandpa watching that video and saying,
• 41:49
  OK, that like I, I totally understand Bitcoin now.
• 41:51
  I can see my parents and their, you know, their neighbors and
• 41:53
  their friends watching that video and saying, OK, that makes
• 41:56
  a lot of sense, especially with the the weight of their words
• 42:01
  behind this, like me saying all this stuff about Bitcoin.
• 42:06
  My is that means nothing to a lot of these people, but if you
• 42:09
  have the black rocks, you have the Fidelities, you have these
• 42:12
  big, large traditional asset managers shilling Bitcoin in the
• 42:16
  simple, easy, digestible way. I mean, like, it's just
• 42:20
  brilliant. I, I, I really think that the
• 42:23
  average retail investor probably still thinks Bitcoin's a scam
• 42:28
  and they're not getting into it. But all the people who are
• 42:30
  actually paying attention, the wealthy investors, they're
• 42:34
  taking notice of this and they're aping into the ETFI,
• 42:37
  think they're probably buying spot Bitcoin.
• 42:39
  I know people personally, like I live in like a decently wealthy
• 42:43
  part of town and I have friends who advise people here in
• 42:48
  Nashville on Bitcoin. And I mean, there's just like
• 42:51
  big money coming in and saying, Hey, how do I get, you know,
• 42:56
  exposure to this? How do I go buy it?
• 42:58
  Like I had a friend set up a guy with Unchained capital and he
• 43:02
  like instantly bought just like hundreds of thousands worth of
• 43:04
  Bitcoin. And now he's trying to ape and,
• 43:06
  you know, hundreds of thousands more like the, and, you know,
• 43:09
  these are people you would never see on Bitcoin Twitter.
• 43:11
  They're not on Bitcoin Twitter. They're they're too busy.
• 43:14
  Do like, you know, they're running their business.
• 43:16
  They're they're investing full time.
• 43:18
  They're living their personal lives like these big, you know,
• 43:21
  sharks in the water are gobbling up a lot of Bitcoin and they're
• 43:26
  not saying anything about it publicly.
• 43:28
  So BlackRock, Fidelity, all these big large institutional
• 43:34
  investors are asset managers, I should say, putting really their
• 43:39
  confidence in Bitcoin that it will succeed long term is like
• 43:42
  incredibly bullish. 100% agree with you man.
• 43:46
  It's it's, it's the legitimization of Bitcoin, you
• 43:51
  know, in the eyes of traditional finance.
• 43:53
  And that's really what BlackRock did, you know, really pushing
• 43:57
  forward this ETF and and they didn't want to approve it.
• 44:00
  You know, Gary Gensler was like dragging his feet.
• 44:04
  And not to mention the debate was just the launch of it was
• 44:07
  just botched. You know, apparently his account
• 44:09
  was hacked. And then, you know, the the
• 44:11
  volatility spiked up at that. And then the next day they
• 44:13
  approved it like it was just, you know, it was crazy.
• 44:16
  But of course, this is the weight of Black Rock.
• 44:17
  This is the largest asset manager in the world.
• 44:19
  They have so much influence. And when they are publicly
• 44:23
  supporting Bitcoin, I agree with you, Nick.
• 44:26
  It is a massive deal. It's a it's a giant rubber stamp
• 44:30
  of approval. And you see a lot of people that
• 44:32
  perhaps doubted Bitcoin before now they're saying, you know,
• 44:35
  they're like, you know, if black rocks, you know, saying, OK,
• 44:39
  like this thing's probably not going anywhere.
• 44:41
  This this thing's probably legit.
• 44:43
  And one of the things that you mentioned in the beginning, you
• 44:45
  buried the lead there, which was the Bitcoin ETF, even though it
• 44:50
  was butchered. And this was not like, you know,
• 44:52
  the market, this was the government and the agencies, The
• 44:56
  the launch of it, it is still the most popular ETF launch of
• 45:01
  ever in, in history, you know, which is extremely, extremely
• 45:04
  exciting. Anyways, Opti quick take on this
• 45:07
  what? What's your opinion, my friend,
• 45:08
  before we move on to the news? Yeah, I mean just kind of to
• 45:11
  echo what Nick was saying, literally we had someone in the
• 45:14
  chat like in the beginning of the show saying something on the
• 45:16
  lines like imagine taking financial advice from 2
• 45:19
  Youtubers. Like what kind of idiots is
• 45:21
  that? And it's.
• 45:22
  Like. That Black Rock video proves the
• 45:24
  point to what we've been talking about.
• 45:26
  It's like, look, you can listen to two idiots on YouTube.
• 45:29
  We've been in Bitcoin for a while.
• 45:31
  I think we have a pretty good grasp of where the future is
• 45:33
  going and money or you know, you go listen to Black Rock because
• 45:37
  we're all saying essentially the same thing.
• 45:39
  And like Nick was saying, it is super interesting to hear
• 45:42
  BlackRock do their little, you know, 3 minute video.
• 45:45
  It sounds boring to us because we're just so used to the
• 45:48
  information. But for a lot of people out
• 45:50
  there, they still have this idea that Bitcoin is like a scam or,
• 45:53
  you know, it's Internet nerd money or speculative asset or
• 45:56
  whatever. But ever since BlackRock, you
• 45:58
  know, put the stamp of approval on it, it is legitimizing it in
• 46:02
  the eyes of people. And so people watch that.
• 46:04
  Like Nick was saying, there is a part in that essentially saying
• 46:08
  there's 500 million people in the crypto space, half of them
• 46:11
  are in Bitcoin, essentially betting that in the future
• 46:14
  Bitcoin is going to get bigger. And yes, to us, it's like
• 46:18
  whatever, but having the largest institutional manager in the
• 46:21
  world put their stamp of legitimacy on Bitcoin,
• 46:24
  explaining it to all of their customers like this is extremely
• 46:27
  bullish for obviously the price of Bitcoin.
• 46:30
  But hopefully more people understanding what the Bitcoin
• 46:33
  network is. And I mentioned this at the very
• 46:36
  beginning of this year when the ETF was launched that now we
• 46:39
  have BlackRock. All you know, you could argue,
• 46:43
  you can argue otherwise, but the smartest people educating some
• 46:47
  of the richest high net worth individuals about Bitcoin and
• 46:50
  they're all going to ape in like if this doesn't get you bullish
• 46:53
  that we are maturing as an asset class, that Bitcoin is starting
• 46:58
  to take over the world. I don't know what else will,
• 47:00
  because now people are getting the information digestible.
• 47:03
  It's not on, you know, shitty podcast.
• 47:05
  It's not in in books. It's in a 3 minute video with
• 47:08
  the official stamp of BlackRock. So yeah, you send this to your
• 47:12
  mom or your uncle or your, you know, brother or whatever that
• 47:15
  thinks you're an idiot. And it's like, hey, yeah, maybe
• 47:18
  I'm an idiot and you don't listen to me, but hey, go listen
• 47:20
  to BlackRock. They're talking about the
• 47:22
  evolution of money. They're betting the horse that
• 47:24
  Bitcoin's going to go up, that Bitcoin is here to stay.
• 47:27
  And I think that's extremely bullish.
• 47:29
  It just really is a confirmation to everything we've been saying
• 47:33
  for years. So you don't want to listen to
• 47:34
  two Youtubers on Bitcoin, that's fine, you can go listen to
• 47:38
  BlackRock. But we are all saying the same
• 47:41
  thing. Bitcoins here.
• 47:42
  You need to get off 0 and that's how you win. 100 percent, 100%
• 47:47
  agree with that. It's very, very exciting.
• 47:49
  I'm super excited for 2025. I think it's going to be an
• 47:52
  amazing year. I think we were let down in 2021
• 47:55
  because of the China mining ban and FTX and the RE
• 47:58
  hypothecation. But the regulatory environment,
• 48:01
  the institutional interest, of course, Michael Saylor with the
• 48:04
  micro strategy strategy, like, you know, all the stars and
• 48:07
  planets are aligning for potentially an explosive 2025.
• 48:11
  And I think people are going to be very, very happy about it.
• 48:14
  So anyways, guys, we're going to hit the new segment.
• 48:15
  We will be right back. I want to give a very special
• 48:19
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• 48:22
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  foundation dot XYZ slash. Simply get Peace of Mind for
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  your peace. All right ladies and gentlemen,
• 50:08
  before we start the news, Opti is not on a phone call right
• 50:11
  now. He's actually holding the
• 50:12
  passport by foundation devices. It's extremely easy to use.
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  Not your keys, not your cheese promo code simply to get a
• 50:31
  discount anyways. Oh Dee, it's not a phone, but so
• 50:37
  new. Phone who dis.
• 50:38
  Let's talk about this 'cause I think it's a very important
• 50:41
  discussion and topic and I do want to give a shout out to Nick
• 50:45
  and the Bitcoin Magazine team. We, we did.
• 50:48
  We played our part here at Simply held it down in YouTube
• 50:51
  land. But essentially like, you know,
• 50:56
  this was a very important election.
• 50:58
  It's a very, very important election.
• 50:59
  I think Bitcoiners inherently don't like politics.
• 51:03
  They're very they're, they're very cautious of the state.
• 51:08
  They're very caught. They're they're, they just don't
• 51:10
  like it. And you know, we got a lot of
• 51:12
  heat for it from a lot of bitcoiners, a lot of people that
• 51:15
  are viewing our show because we basically got to a point where
• 51:20
  you know, and I tried to stay neutral for as long as possible
• 51:24
  until they locked up the samurai wallet guys.
• 51:27
  Until you know this, the continuation of operation choke
• 51:30
  .2 point O it. It was released on documents
• 51:34
  that essentially like there was literally pressure being put on
• 51:37
  banks to debank Bitcoin and crypto companies just by just
• 51:42
  because they were Bitcoin and crypto companies, right?
• 51:45
  It was it was horrific. So it got to a point where, you
• 51:49
  know, it was like, look like our industry is under attack.
• 51:53
  We have to speak up. We have to say something.
• 51:57
  And now Bitcoiners essentially become part of the donor class.
• 52:00
  And you could make a a big argument that part of the reason
• 52:03
  that Kamala Harris lost that election was because she
• 52:07
  essentially, you know, like if you're under the age of 35,
• 52:11
  there's a 60% chance that you have exposure to Bitcoin and
• 52:14
  crypto. It's probably not a good idea to
• 52:16
  go after part of your voting demographic, right?
• 52:21
  So why am I telling you this? Why am I, you know, teeing all
• 52:24
  this up? Because this news broke today.
• 52:27
  And something I was mentioning earlier, SEC Commissioner
• 52:31
  Caroline Crenshaw, who voted against spot Bitcoin ETFs will
• 52:35
  quote, will not be renominated to her position after Senate
• 52:39
  Banking Committee cancels vote. Fox business, bye bye.
• 52:44
  Well, it's hilarious. Of course, you know, if this
• 52:46
  comes with the news of Gary Gensler, you know, quitting the
• 52:50
  day of Donald Trump's inauguration, so he's sticking
• 52:53
  to the very end. But, you know, these, the
• 52:56
  elections have consequences. I know we all want to live in
• 52:59
  the world of, you know, of the sovereign individual where, you
• 53:03
  know, you believe that essentially, like, you know,
• 53:07
  politics don't matter. You know, there's going to be
• 53:11
  essentially nation state arbitrage.
• 53:13
  You'll be able to go to more favorable jurisdictions and all
• 53:16
  that stuff. But we don't live in that world
• 53:18
  yet. We're still in this
• 53:19
  transitionary period and elections do have consequences.
• 53:23
  And I think that this election was extremely positive for
• 53:27
  Bitcoiners, the Bitcoin industry, on the Bitcoin
• 53:30
  regulatory environment here in the United States, allowing
• 53:33
  Bitcoin entrepreneurs to build without any fear of
• 53:37
  repercussions. And the the last thing that I'll
• 53:39
  say too, is like, look like, you know, why is the government in
• 53:44
  the business of going after entrepreneurs, going after
• 53:51
  businesses? That's not what the government,
• 53:54
  that's not the role of government.
• 53:55
  The role of government is to protect private property, you
• 53:58
  know, act of act, kind of like a referee in markets to to some
• 54:03
  extent and you know, and, and essentially protect your safety.
• 54:08
  That's, that's it. That's the role of government.
• 54:10
  It's been Frankensteined and it's grown immensely because of
• 54:16
  the Fiat money printer, because the Fiat money printer
• 54:18
  essentially allows to, allows them to spend endlessly with
• 54:22
  absolutely no check on that spending because they don't have
• 54:25
  to just rely on direct tax revenue.
• 54:28
  They can just, if there's a deficit, you know, in the United
• 54:31
  States, a $1.7 trillion deficit in 2023, how did they pay for
• 54:36
  that? They printed the difference, but
• 54:38
  it ain't free. It's a wealthy redistribution
• 54:40
  mechanism from the lower middle classes that don't have the
• 54:43
  means to save in assets to back to the government and back to
• 54:48
  the wealthy. But the wealthy are getting
• 54:49
  psyop too because even though their real estate prices are
• 54:52
  going up, even though the asset prices are going up, the, the
• 54:55
  purchasing power, it stays the same, right?
• 54:58
  So, you know, let's end inflation, let's end this
• 55:01
  taxation without representation. And I think we are one step
• 55:05
  closer to that with the election of, of Donald Trump.
• 55:09
  Nick, I know you, you guys did a tremendous job on not only
• 55:13
  getting Trump, but also RFKI believe you guys got Tulsi at
• 55:18
  one of the Bitcoin conferences. And I know that you've been
• 55:20
  covering this subject tremendously.
• 55:22
  And I believe actually Bitcoin magazine had coverage live from
• 55:25
  the RNC itself, from the RNC convention.
• 55:28
  So what's your take on this? What, what do you believe are
• 55:31
  the consequences of this election?
• 55:33
  What do you foresee? You know what are the what are
• 55:35
  going to be the benefits towards the price of Bitcoin in the
• 55:38
  Bitcoin industry for the next 4 years at least?
• 55:41
  Yeah. I mean, when it comes to the
• 55:43
  presidential election specifically, I do think that
• 55:47
  there were voter issues that, I mean, there were issues that
• 55:52
  voters cared a lot more about. Like obviously like abortion was
• 55:55
  a huge one, immigration was a huge one.
• 55:59
  I do think that Bitcoin is an asset class that I should say an
• 56:06
  issue that is becoming more and more and more important.
• 56:09
  And I feel like this is the first time that the power of
• 56:13
  this industry has really been shown.
• 56:16
  I don't know if you guys remember, but like a few years
• 56:18
  ago when the, I believe it was the infrastructure bill, they
• 56:23
  wanted to pass this huge infrastructure bill and there
• 56:26
  was verbiage in that bill that showed that they they were
• 56:31
  trying to classify nodes as like money transmitters or something.
• 56:34
  It was something that would have been like honestly really bad
• 56:36
  for the industry. I think it eventually did pass,
• 56:39
  but I think I, I, I have to go back and Fact Check myself on
• 56:42
  this. It might have got overturned or,
• 56:44
  you know, it can be overturned, but that bill essentially got
• 56:49
  held up for two weeks in a row strictly because bitcoiners
• 56:53
  wouldn't allow it to get past. They kept calling the
• 56:55
  representatives in DC and advocating for that verbiage to
• 56:59
  be taken out or changed. And ever since that day, I
• 57:03
  noticed so many politicians starting to tore consent for
• 57:07
  Bitcoiners because I think they really realized holy crap, like
• 57:11
  this is like a serious voter block.
• 57:13
  And I really think the power of our industry was shown this
• 57:17
  year. I really do think with, you know
• 57:19
  what, 100 million plus people who owns, you know, either
• 57:23
  Bitcoin or crypto in this country.
• 57:25
  I hate saying crypto, but like, you know, they are voting for,
• 57:30
  you know, pro Bitcoin stuff. So I guess it's fine to include
• 57:33
  them in saying that. But I mean, you had Donald Trump
• 57:39
  really recognize that, hey, this is like a serious industry.
• 57:43
  This is a serious asset. Like these are serious people.
• 57:45
  These are people who are probably akin to like, you know,
• 57:49
  like they're not going to budget on this.
• 57:52
  Like, you know, Christians is a voter bloc that they're not
• 57:55
  budging on their beliefs. People who believe in the Second
• 57:58
  Amendment, like it's they're not budging on this belief, All
• 58:02
  right, The NRA, they're not budging on their beliefs.
• 58:04
  I think Bitcoin is going to be entering into that level of a
• 58:08
  voter bloc. And we're going to be seeing, I
• 58:11
  mean, we have huge political power now after this election.
• 58:16
  I mean, Donald Trump came to to pub key in New York City to
• 58:20
  just, you know, he did everything he could to appeal to
• 58:23
  Bitcoiners. He came to the Bitcoin
• 58:25
  conference. He invited me and Mike Germano
• 58:29
  out to the RNC in Milwaukee, WI, and I got to walk on the floor
• 58:35
  with all the congressmen and the senators, and I got to meet all
• 58:38
  of them. And you know, I'm having one of
• 58:40
  my friends who happened to be at the RNC, he was escorting me
• 58:43
  around actually Marsha Blackburn's son, Senator Marsha
• 58:48
  Blackburn, who is also huge into Bitcoin, her son Chad Blackburn,
• 58:51
  shout out to Chad. He was escorting me around the
• 58:54
  RNC and introducing me to all these congressmen and senators.
• 58:58
  And believe it or not, they all knew of the Bitcoin conference.
• 59:02
  They all had heard of Bitcoin magazine and what you know, we,
• 59:06
  we as a community we're doing for Donald Trump and helping him
• 59:08
  get re elected into office. So they were all super bullish
• 59:12
  on it. They were all very excited.
• 59:14
  The knowledge gap. There is a knowledge gap there.
• 59:18
  There weren't super educated on Bitcoin, but I think that's
• 59:22
  totally fine. Like there's a lot of people who
• 59:25
  I've seen really attacked Donald Trump and say like, oh, he's not
• 59:28
  like a proper Bitcoin maxi. He doesn't understand it and
• 59:32
  therefore he's a bad president. He's a bad person.
• 59:34
  Like it, it really doesn't matter.
• 59:36
  Like, like this is something I've been telling some of like
• 59:39
  my Co workers who have disagreed with me on this is like, that's
• 59:43
  kind of what you want. I think in AUS president is like
• 59:48
  all Donald Trump is going to do is he's going to make a
• 59:51
  regulatory friendly environment and allow the people in this
• 59:56
  industry to just build, just build whatever they want.
• 59:59
  Go really go for it. He's probably giving us a lot
• 1:00:01
  more leeway than he probably should.
• 1:00:03
  Like, you know, like getting rid of, like, you know, both of the
• 1:00:06
  people who left the SEC. Caroline Krishna, I think I said
• 1:00:13
  her last name wrong but then the other guy, these are both
• 1:00:17
  Democrats who voted against approving the spot.
• 1:00:20
  ETFs like these are both anti Bitcoin people.
• 1:00:23
  Gary Gensler was anti Bitcoin really for the most.
• 1:00:26
  I mean you could argue pro or against but I think he was anti
• 1:00:29
  Bitcoin and the only reason this thing got passed or or got
• 1:00:34
  approved was because we literally had to drag them
• 1:00:38
  through a court case when they kept denying these ETFs that
• 1:00:43
  should have been approved years ago.
• 1:00:45
  And I think you with all the Republican support, it's like
• 1:00:50
  immense. It's insane.
• 1:00:51
  I don't think they fully understand it either.
• 1:00:53
  At least some of them do, but some of them don't.
• 1:00:56
  Some of them just lump Bitcoin in with crypto and they're kind
• 1:00:59
  of giving a lot of crypto stuff a free pass when they really
• 1:01:02
  probably shouldn't. So it'll be really interesting
• 1:01:06
  to see how they handle that and how the industry grows from that
• 1:01:09
  'cause I really do think a lot of crypto crap is getting a free
• 1:01:12
  pass. But you know, we'll see what
• 1:01:14
  happens. But I think it is really causing
• 1:01:17
  the Democrats to completely change their shift from kind of
• 1:01:21
  like the insider view looking out is like, you know, Donald
• 1:01:23
  Trump was coming to the conference.
• 1:01:25
  He was very involved. He was doing all this pro
• 1:01:28
  Bitcoin stuff. And like, you know, we tried to
• 1:01:31
  get Kamala to the conference. We really tried she was debating
• 1:01:35
  it and then eventually she backed out and said that she
• 1:01:39
  wasn't coming. So you know, you kind of just I
• 1:01:43
  think a lot of bitcoiners realized during this election is
• 1:01:46
  like, you know, this Biden Harris regime has done nothing
• 1:01:50
  but attack the industry. They've put people behind bars.
• 1:01:54
  They've, you know, continued with operation show .2 point O.
• 1:01:58
  They've done all these horrible things and it's like, you really
• 1:02:01
  think if this person gets into office that they're just going
• 1:02:05
  to all of a sudden revert and change that Like, no, they've
• 1:02:08
  done, they had like Kamala Harris had done absolutely
• 1:02:11
  nothing to show her support for the industry.
• 1:02:14
  I don't think she's on record publicly written or video wise,
• 1:02:18
  even saying the word Bitcoin. I really, I, I, I can't find
• 1:02:22
  anything of that. And if you can find that, please
• 1:02:24
  send it to me because I would love to see what she says about
• 1:02:27
  it. But these people, they followed
• 1:02:30
  the advice of Elizabeth Warren. Elizabeth Warren literally LED
• 1:02:34
  them down a path that was the wrong path.
• 1:02:37
  The Democrats paid the price for it.
• 1:02:39
  And now I honestly believe you will start to see like the the
• 1:02:43
  some of the more traditional Democrats I think will continue
• 1:02:47
  on this. You know, they have Bitcoin
• 1:02:49
  derangement syndrome, they have Trump derangement syndrome.
• 1:02:52
  They're going to be anti Bitcoin forever unless something radical
• 1:02:55
  happens. But you have Democrats like Ro
• 1:02:59
  Khanna who really want to embrace Bitcoin.
• 1:03:02
  You have other Democrats as well who really want to embrace
• 1:03:05
  Bitcoin. So I do think you will see a
• 1:03:07
  tide turn there and they will start to be more pro Bitcoin
• 1:03:12
  over time. How broke, How pro Bitcoin will
• 1:03:15
  they be? I don't know.
• 1:03:17
  I can't imagine them ever encouraging people to, you know,
• 1:03:20
  hold their own keys and stuff like the Republicans are.
• 1:03:22
  But we'll see. I I just I am thoroughly
• 1:03:26
  impressed with how this past year has went and how much power
• 1:03:31
  we as an industry have in the political landscape of the
• 1:03:34
  United States. Absolutely.
• 1:03:36
  And it just happened so fast too.
• 1:03:38
  I knew that inevitably this was going to be a political
• 1:03:41
  discussion, but we were pretty Opti and I, when we were doing,
• 1:03:44
  we were talking about this, we were predicting like 2028, you
• 1:03:47
  know. But it all happened so fast.
• 1:03:49
  And it was really a drop ball by the Democratic Party because
• 1:03:53
  essentially by going after the industry, they created an
• 1:03:56
  opportunity for the opposing political party to capitalize
• 1:04:00
  on, you know, on like, look, if you're going to attack a, a
• 1:04:04
  portion of your voter base, like, OK, come to us.
• 1:04:07
  We'll, we'll, you know, we'll represent it.
• 1:04:08
  We'll, we'll, you know, we'll support it.
• 1:04:11
  And, and, you know, shout out to, you know, David Bailey for,
• 1:04:14
  for, you know, talking with the Trump team and, and kind of
• 1:04:17
  really educating them on, on, on this.
• 1:04:20
  And I saw a, a speech from Trump's son, Eric Trump at, at
• 1:04:25
  Bitcoin Mina. And it was incredible.
• 1:04:27
  Like he knows exactly what this Bitcoin thing is.
• 1:04:30
  So yeah. And I can't.
• 1:04:32
  Believe it, like I, I don't want to cut you off, but like that,
• 1:04:36
  that speech genuinely felt sincere and genuinely felt like
• 1:04:40
  he took the time to understand this asset and the importance of
• 1:04:43
  it. It's not he, he wasn't just
• 1:04:45
  reading off a teleprompter. You know, someone told him, Hey,
• 1:04:48
  you should say this because it'll resonate with your
• 1:04:50
  audience. It was like, kind of like, this
• 1:04:53
  is an important asset. He understands it, and he wants
• 1:04:58
  America to embrace it. Because I feel like they
• 1:05:00
  genuinely want what's best for America and not like, in my
• 1:05:05
  opinion, what the Democrats want.
• 1:05:07
  And that's just a power grab for, you know, themselves
• 1:05:11
  really. They don't really give a crap
• 1:05:13
  about the future of America. Yeah, absolutely.
• 1:05:17
  I mean, like look like they're actually actions speak louder
• 1:05:20
  than words. I think fundamentally, right?
• 1:05:22
  Anyways, Opti, quick take before we get on to the culture segment
• 1:05:26
  and talk all things Nicholas Hoffman.
• 1:05:28
  What's your take, Opti? Yeah, I mean, I fully agree with
• 1:05:32
  Nick. I'm cautiously optimistic about
• 1:05:35
  what 2025 is going to bring. As we've been covering
• 1:05:38
  throughout the whole year, we've seen that there has been a lot
• 1:05:42
  of rhetoric to be pro Bitcoin or rather you know pro crypto
• 1:05:45
  friendly. And so I also think we, we're
• 1:05:49
  definitely going to see better regulation than we've seen in
• 1:05:51
  the past four years. And my, my cautiousness is kind
• 1:05:55
  of revolving around, you know, politicians love to make laws.
• 1:05:59
  And I just hope that they don't kind of push some stuff through
• 1:06:02
  that seems friendly towards Bitcoin, but actually hampers
• 1:06:04
  Bitcoin in the future. And so like, that's kind of what
• 1:06:07
  I'm seeing. But as we've been seeing and
• 1:06:09
  covering the last couple of months, we're seeing that the
• 1:06:12
  conversation around Bitcoin has fundamentally changed.
• 1:06:15
  And a lot of people that are in positions of power are
• 1:06:17
  definitely pro Bitcoin. And so I think this is good,
• 1:06:20
  like really realistically, as a Bitcoiner, as someone that
• 1:06:24
  believes in the idea of separating money from state, all
• 1:06:27
  I really want is for them to get out of our way.
• 1:06:29
  And Nick kind of said that with the, you know, they're giving us
• 1:06:31
  a lot of leeway. And I, I just really hope they,
• 1:06:34
  you know, don't try to enact stuff that actually will hurt us
• 1:06:37
  and we kind of cheer along our own demise.
• 1:06:40
  But as long as they get out of our way, let us build, you know,
• 1:06:42
  let Bitcoin do its thing. And then I think this is going
• 1:06:45
  to be a good thing comparing and contrasting that to what we've
• 1:06:48
  seen in the last four years where they've been actively
• 1:06:50
  fighting us and kind of trying to stop or dampen Bitcoin
• 1:06:53
  adoption. So I think 2025 and into 2029 is
• 1:06:56
  going to be very, very good for Bitcoin in America.
• 1:06:59
  So I'm also very like optimistic about where we're going.
• 1:07:03
  And I think it's great. It's it's obviously a shift in
• 1:07:06
  the Overton window. And now it's becoming very clear
• 1:07:08
  that you can't just fight bitcoiners.
• 1:07:10
  You can't just say anti Bitcoin rhetoric and get away with it
• 1:07:13
  because as we, as Nico, keep saying, elections have
• 1:07:16
  consequences. And let's not forget that there
• 1:07:19
  are a lot of bitcoiners around the world.
• 1:07:21
  I'm, I'm just reminded of the the Fight Club meme where it's
• 1:07:24
  like we run the nodes, we hold the Bitcoin, we get you elected
• 1:07:28
  like we're everywhere. And that's the beauty of
• 1:07:30
  Bitcoin. Absolutely, guys.
• 1:07:32
  There's 2600 of you guys watching live, 550 of you guys
• 1:07:37
  watching live alone on just YouTube.
• 1:07:40
  We're about to hit our 250 like goals.
• 1:07:43
  So let's move up that goal to 300 likes.
• 1:07:45
  So if you guys are enjoying the show so far, make sure to smash
• 1:07:48
  that like button. Of course share the video guys.
• 1:07:51
  We're going to hit the culture. We will be right back.
• 1:07:54
  I want to give a shout out to our sponsor Hive Digital
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  Hive Digital Tech or check out their website,
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  hivedigitaltech.com. All right everybody, I do want
• 1:08:44
  to give a shout out to our sponsor Bit Block Boom.
• 1:08:47
  It's going to be a Bitcoin conference April 3rd, 3rd to the
• 1:08:51
  6th in Dallas, TX. You do want to get your tickets
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  quickly before the prices increase in 21 days and if you
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  use promo code BBB 21, you will get $100 discount.
• 1:09:03
  The entire simply Bitcoin crew will be there Opti, Rustin,
• 1:09:06
  Dante, Jacob, Sophie, and of course the the Twitter Zoomer
• 1:09:11
  crew as well. So guys, you definitely don't
• 1:09:13
  want to miss this. This Bitcoin conference is going
• 1:09:14
  to be one of the best Bitcoin conferences of the year and hope
• 1:09:17
  to see you guys in Dallas, TX of next year.
• 1:09:20
  All right, everybody. So I do want to open up this
• 1:09:23
  conversation. We got Nicholas Hoffman in the
• 1:09:25
  house. Nick.
• 1:09:27
  Nick goes way. I mean, Nicholas goes way back
• 1:09:30
  with me and Opti just kind of like look like we all kind of
• 1:09:34
  got into the industry roughly around the same time and we're
• 1:09:38
  all taking like different paths and you know, our careers have
• 1:09:41
  grown and things so many things have just changed, you know, and
• 1:09:45
  come so far too. You know, we were talking in, in
• 1:09:49
  Discord chats, you know, like 5-6 years ago, we were just
• 1:09:54
  talking about Bitcoin would go on rants, Opti would go on
• 1:09:57
  rants, Nick would go on rants. And you know, many years later
• 1:10:01
  we call come here and you know, of course, me and Opti are
• 1:10:04
  building this small business. And then, you know, Nick, Nick's
• 1:10:07
  at, you know, the leading Bitcoin media publication in the
• 1:10:10
  world, Bitcoin Magazine. And he's the head of news over
• 1:10:13
  there. And he's done an incredible job
• 1:10:15
  not only running their Twitter handle, but also, you know,
• 1:10:18
  dropping some articles, you know, which are incredibly well
• 1:10:21
  written, man. So and you recently just
• 1:10:24
  announced. That's why I want to bring Nick
• 1:10:26
  on the show today. Nicholas on the show.
• 1:10:28
  Kim's used to calling you Nick, man, I apologize.
• 1:10:31
  I want to bring Nicholas on the show today because he recently
• 1:10:34
  launched a personal handle, which I highly recommend, you
• 1:10:39
  know, following because Nicholas has cracked the X algos.
• 1:10:43
  He's an expert in that and it's at Nicholas Hoff.
• 1:10:48
  You can go follow it on X right now.
• 1:10:50
  It's growing extremely quickly and you know, you'll find some
• 1:10:54
  awesome kind of Daily News aggregator posts about what's
• 1:10:59
  happening, the latest and greatest things happening in the
• 1:11:01
  industry. So Nick, the floor is yours,
• 1:11:03
  man. It's been a it's been a long
• 1:11:05
  time, bro. We've known each other quite a
• 1:11:06
  long, you know, quite a long time now.
• 1:11:08
  I remember Bitcoin 2021, the first major Bitcoin conference,
• 1:11:14
  you know, we were on stage in Miami together, you know, on
• 1:11:17
  this panel. You know, why Bitcoin maximalism
• 1:11:20
  is necessary. And yeah, man, it's just come
• 1:11:23
  such a such a long way, dude, such a long way.
• 1:11:26
  And, you know, so many memories and and I think the best is yet
• 1:11:30
  to come. I'm super excited about, you
• 1:11:32
  know, the future, our careers, you know, just life in general.
• 1:11:35
  But wanted to have you back on the show today.
• 1:11:38
  Talk a little bit about that and just talk about this X account
• 1:11:41
  that you recently just launched. Yeah, I mean, it's been a
• 1:11:46
  definitely a long journey. I think we all start like the
• 1:11:48
  three of us started talking in like 20/17/2018 on Twitter.
• 1:11:54
  And it's funny like over on in my kitchen in my apartment, like
• 1:11:58
  when you walk in, I have like a giant poster printed out of you.
• 1:12:04
  Me, Svetsky, Dr. Bitcoin MD and Young lurk on stage at the
• 1:12:10
  Bitcoin conference in Miami and where we got on the cover of
• 1:12:13
  Rolling Stone. That was like one of the coolest
• 1:12:16
  things that's ever happened to me.
• 1:12:17
  And I'm like glad you got to be a part of that as well.
• 1:12:21
  It's been, it's just been a wild ride.
• 1:12:23
  I mean, like talking about, you know, what we were talking about
• 1:12:27
  at the very beginning of the show when we were talking about
• 1:12:29
  like stacking more Bitcoin. I mean, like, I used to drive
• 1:12:32
  like my old car and my old car broke down.
• 1:12:35
  And instead of fixing my car, I used to Jimmy rig it every day
• 1:12:39
  with the screwdriver because I didn't want to fix the car
• 1:12:42
  because Bitcoin was like 3000 bucks.
• 1:12:45
  It would have cost like 1000 bucks to fix.
• 1:12:47
  I'm like, I'm not paying 1/3 of a Bitcoin to fix this old car.
• 1:12:51
  I'm just going to, you know, fix it when it's higher.
• 1:12:52
  And then I ended up fixing it when it was like 10 Ki think.
• 1:12:56
  So I got a much better deal on that.
• 1:12:58
  But like, you know, life has changed a lot.
• 1:13:01
  I know you know, you, your life has changed a lot as well.
• 1:13:05
  I don't really know where I'm going with this, but it's yeah,
• 1:13:08
  I kind of just started that account to grow it more, get
• 1:13:11
  more of my personal brand out there.
• 1:13:14
  I've played a big role in growing Bitcoin magazine, in
• 1:13:19
  growing their social media, growing them as a brand.
• 1:13:22
  I've written like, you know, like 450 articles for them or
• 1:13:25
  something like that. I've played a key part in
• 1:13:28
  growing, you know, Bitcoin conference social as well.
• 1:13:33
  And just over the years just kind of like being more of a
• 1:13:35
  public facing person for Bitcoin Magazine.
• 1:13:37
  And now I'm just like kind of focused on growing my own
• 1:13:41
  account personally as well while I'm here growing Bitcoin
• 1:13:44
  Magazine. So it's been a lot of fun.
• 1:13:47
  Yeah, absolutely, man. So many memories and I think
• 1:13:50
  you've done an incredible job, man.
• 1:13:51
  I think that when you took over the Bitcoin magazine handle, I
• 1:13:55
  believe it was at like 300,000 followers and now it's currently
• 1:13:59
  at roughly what is like 3 or 4 million.
• 1:14:02
  Is that correct? Yeah, it's like I took it over
• 1:14:05
  at like 500 K followers and then we're at like 3.4 something
• 1:14:10
  million right now. So it's been a lot of fun.
• 1:14:12
  I've got a lot of help from people with that.
• 1:14:15
  It hasn't been completely on me. So shout out to like Pete Rizzo,
• 1:14:18
  shout out to Namseos, Alex McShane, Bevac, people who have
• 1:14:24
  contributed to that as well. Yeah man, it's just been it's
• 1:14:28
  been a lot of fun. I every day I wake up and I'm,
• 1:14:32
  I'm amazed I get to do this for a living all day, every day.
• 1:14:35
  So it's like I'm, I'm definitely very fortunate to be in the
• 1:14:37
  position that I'm in. I definitely try not to take it
• 1:14:40
  for granted and I try and just give it my all every single day.
• 1:14:44
  Absolutely, man. It's it's it's surreal, you
• 1:14:47
  know, opting to have this conversational as I'm like,
• 1:14:49
  dude, we somehow made a business of about talking, literally
• 1:14:54
  talking about Bitcoin, you know, which is so surreal, you know,
• 1:14:58
  and so I completely I completely understand that feeling, Nick.
• 1:15:03
  And like I said, man, I'm doubling down.
• 1:15:05
  I think the best is yet to come. You know, I'm I'm looking
• 1:15:07
  forward for this hyper bitcoinized world.
• 1:15:10
  And I think when that happens, you know, the need for Bitcoin
• 1:15:13
  media is just going to continue to increase.
• 1:15:16
  So this is a different worldview, man.
• 1:15:17
  It's a different worldview once you've taken the orange pill,
• 1:15:20
  you know, kind of like is what you see is like kind of liberal
• 1:15:23
  commentary and then conservative commentary.
• 1:15:26
  I think Bitcoin is like Bitcoin commentary is like the like the
• 1:15:30
  evolution of that right 'cause you know, Bitcoin, you know,
• 1:15:33
  it's the theory from the sovereign individual, right?
• 1:15:35
  Like, you know, I think information technologies like
• 1:15:38
  the disintermediation of information via social media and
• 1:15:41
  the disintermediation of money via Bitcoin is going to
• 1:15:44
  fundamentally change the world. The relationship between the
• 1:15:48
  individual and the state, it's going to radically change.
• 1:15:51
  And I think, you know, you know, people are gonna want that
• 1:15:55
  worldview as they adopt Bitcoin as their standard, right?
• 1:15:59
  So Opti, I mean, you know, not only like, of course, you know,
• 1:16:02
  me and Nick go way back, but you guys go way back.
• 1:16:06
  You know, I'm, I'm absolutely sure that, you know, I'm
• 1:16:10
  absolutely sure that, you know, that, that, you know, like
• 1:16:17
  there's viewers that are currently watching right now
• 1:16:19
  that are fans of Bitcoin kindergarten, right?
• 1:16:22
  And they remember Bitcoin kindergarten, which been kind of
• 1:16:25
  discontinued these days. But you know, what do you think
• 1:16:29
  about that? Yeah.
• 1:16:30
  Well, the BK alumni network is very strong.
• 1:16:34
  If you know, you know, it's it's just very interesting that we
• 1:16:37
  kind of kind of to what Nick was saying, you know, we all kind of
• 1:16:41
  fell into this and we just love what we were doing and it's very
• 1:16:45
  crazy for us to actually continue to do this.
• 1:16:48
  And I mean, Nick pretty much like quit college to go all in
• 1:16:52
  on it. And we, we literally reference
• 1:16:54
  Nick all the time and we're talking to younger kids.
• 1:16:56
  It's like the opportunity cost is very high right now and
• 1:16:59
  there's a very huge opportunity in Bitcoin.
• 1:17:01
  But I actually might kind of want to pivot this away from
• 1:17:05
  just talking about us because Nick is, you know, on the front
• 1:17:08
  lines for Bitcoin media. I, I would say you have a great
• 1:17:13
  grasp of what's going on in the Bitcoin space.
• 1:17:15
  And so personally, I kind of want to talk to you about the
• 1:17:17
  strategic Bitcoin reserve bill and all the stuff going on
• 1:17:20
  because you have probably a little more inside view on
• 1:17:23
  what's going on. You cover it every single day,
• 1:17:25
  like we cover it. So I didn't actually ask you
• 1:17:27
  this before the show. So I don't mean to put you on
• 1:17:29
  the swap, bro. But like, what is your thoughts
• 1:17:32
  going around the whole Bitcoin strategic reserve?
• 1:17:35
  Obviously how it might get implemented, but also the impact
• 1:17:39
  and the waves and the ripple effects that it's that it's made
• 1:17:41
  around the world. Yeah, one of the things that I
• 1:17:48
  mean, so there's two ways they can go about it.
• 1:17:50
  And I think Nick Carter touched on this like a little bit
• 1:17:52
  yesterday. It's like they can implement a
• 1:17:54
  strategic Bitcoin reserve. And I think when most people
• 1:17:57
  think that, they think of Cynthia Lummus's bill of, you
• 1:18:00
  know, taking the 200 K and Bitcoin we already have and then
• 1:18:03
  buying another 1,000,000 BTC over the course of the next five
• 1:18:07
  years. Will that happen or will we get
• 1:18:12
  just Trump saying, OK, we're going to make this strategic
• 1:18:15
  Bitcoin reserve? I'm going to take, you know, the
• 1:18:17
  200 K Bitcoin we we have right now, if we still have it, unless
• 1:18:22
  the Democrats have sold it, we it's unclear whether they've
• 1:18:26
  sold it or not. But because they had recently
• 1:18:29
  moved it and Arkham intelligence flag that they were moving it to
• 1:18:32
  Coinbase for something. So did they sell it?
• 1:18:35
  I don't know. But let's just assume they have
• 1:18:37
  200 K Bitcoin that they seized from Silk Road and other stuff.
• 1:18:42
  He could easily just say, OK, this is our strategic Bitcoin
• 1:18:45
  reserve. We're not going to sell it.
• 1:18:47
  And then that's it. That is, I feel like the bare
• 1:18:50
  minimum, which will probably happen.
• 1:18:53
  But Cynthia Lummis is really pushing for this bill that she
• 1:18:57
  introduced at the Bitcoin conference in Nashville earlier
• 1:19:00
  this summer. And that would see the US
• 1:19:02
  government buy up to 1,000,000 Bitcoin over the next five
• 1:19:06
  years. And it's like, that would be
• 1:19:09
  absolutely insane. You know, there's a lot of
• 1:19:11
  rumors going around the world of, I should say, there's a lot
• 1:19:16
  of rumors going around that other countries around the world
• 1:19:19
  are now feeling the FOMO for this.
• 1:19:21
  And I've seen a lot of names be thrown around.
• 1:19:24
  I've seen a lot of countries be thrown around.
• 1:19:26
  Like I saw somebody tweet out like a long list of all these
• 1:19:29
  countries that were considering adopting actual BTC reserve.
• 1:19:35
  The only countries I've seen, obviously the United States, El
• 1:19:40
  Salvador already has theirs and it's done tremendously well.
• 1:19:43
  I saw the Polish presidential candidate, I forgot his name,
• 1:19:48
  can't pronounce it either. He pledged to create ABTC
• 1:19:52
  strategic Reserve if elected president.
• 1:19:56
  I saw a State Duma member in Russia tell the finance
• 1:20:01
  minister, hey, we need to be looking into this and you need
• 1:20:03
  to push this to the higher ups. There's been no more information
• 1:20:07
  after that. So it's unclear if that proposal
• 1:20:09
  was taken seriously or not. You had legislation proposed in
• 1:20:13
  Brazil for this as well, again, in lowers in lower chambers of
• 1:20:18
  the government. But it is something that is
• 1:20:21
  being introduced. Will it actually come to
• 1:20:24
  fruition and happen? I don't know.
• 1:20:26
  There are tons of bills that are introduced all the time.
• 1:20:29
  I see, you know, I watch a lot of this the Congress hearings.
• 1:20:32
  I watch this the, the Senate hearings, I see individual state
• 1:20:36
  representatives introduce bills. It's a lot more bills introduced
• 1:20:40
  than actually signed into law. There's a lot more that goes
• 1:20:43
  into it. I think a lot of Bitcoiners get
• 1:20:47
  very optimistic whenever a bill is introduced 'cause I, I think
• 1:20:51
  there's a large lack of understanding of, you know, just
• 1:20:56
  cause a bill is introduced doesn't mean it's gonna get
• 1:20:58
  signed into law or, and it doesn't get signed into law
• 1:21:01
  soon. So I would say remain not
• 1:21:05
  cautious, but I'd say maybe adjust your expectations on what
• 1:21:09
  might or might not happen. Personally, I am bullish on it
• 1:21:13
  potentially happening, but I would love to be a family on the
• 1:21:17
  wall and hear more. You know, I want to know the
• 1:21:21
  support from Congress in this. I want to know the support from
• 1:21:24
  the Senate in this because obviously you see Bitcoiners on
• 1:21:27
  Twitter like Cynthia Lummis and other senators talking about
• 1:21:31
  this, but does it really have enough support to actually pass?
• 1:21:36
  I don't know. I guess we'll know when the time
• 1:21:39
  comes when the bill, you know, they're actively voting on the
• 1:21:41
  bill and discussing the bill and moving forward with it or not.
• 1:21:46
  So I'm kind of holding my breath on the one, you know, Cynthia
• 1:21:50
  Lummis's bill of buying 1,000,000 Bitcoin.
• 1:21:54
  I definitely think Trump will. Trump will for sure at least
• 1:21:59
  make, you know, the 200 K Bitcoin.
• 1:22:01
  We have a strategic reserve. I think that's super easy for
• 1:22:03
  him to do. He's kept all of his promises in
• 1:22:06
  Bitcoin so far. I don't really see why he
• 1:22:09
  wouldn't do that. But obviously what we want is
• 1:22:14
  them buying that 1,000,000 BTC. And one thing also thing that I
• 1:22:18
  would like to touch on is like a lot of people say, well, that's
• 1:22:21
  really stupid to say because the whole point of Bitcoin is to
• 1:22:25
  separate money from state where it's like, well, if you actually
• 1:22:28
  think out the logical flow of, you know, mass Bitcoin adoption,
• 1:22:32
  it's like, do you really think only plebs are going to be
• 1:22:35
  adopting this thing? Like, do you really think if
• 1:22:38
  Bitcoin is going to succeed, that governments are just going
• 1:22:40
  to stop by and say, Oh, well, our hands are tied.
• 1:22:42
  We're not going to buy it. No, they're of course they're
• 1:22:45
  going to adopt it. Of course they're going to buy
• 1:22:47
  it. I think separating I, I just
• 1:22:50
  don't think that argument is very valid.
• 1:22:53
  I think, you know, them buying Bitcoin can potentially be a
• 1:22:56
  good thing. Obviously it's a good thing for
• 1:22:58
  the price, but it's how do you take advantage of that to your
• 1:23:01
  own personal benefit? Agree.
• 1:23:04
  Yeah, absolutely. Wait, wait, Nico, I do want to
• 1:23:06
  do one thing. I got dude, I got a hard stop.
• 1:23:08
  I got a meeting. I got a meeting.
• 1:23:09
  Well. Then really quick, really quick,
• 1:23:11
  really quick. Nick, I want you to speculate.
• 1:23:13
  We used to do this on BK. What is the top of the Bitcoin
• 1:23:17
  bull run in 2025? You're going to hate me for
• 1:23:23
  saying this, but I actually gave up making price predictions in
• 1:23:27
  2021. After that, after that absolute
• 1:23:30
  pathetic bull market in 2021, I got I'm going to level set my
• 1:23:35
  expectations. I'm not going to make any more
• 1:23:37
  big price predictions and I'm just going to go with the flow
• 1:23:39
  on a daily basis. Smart.
• 1:23:43
  Yeah, yeah, I agree. I agree.
• 1:23:46
  I I feel very optimistic about 2025 anyways, guys, this was
• 1:23:50
  simply Bitcoin live for December 18th, 2024.
• 1:23:53
  I'm your host, Nico. It's my legendary Co host,
• 1:23:55
  Optimus Fields and our special guest for today, Nicholas
• 1:23:58
  Hoffman. Go follow his personal X account
• 1:24:02
  at Nicholas Hoff and go give him a follow up for you know, the
• 1:24:05
  latest and greatest Bitcoin news.
• 1:24:07
  All right, everybody, love you all.
• 1:24:08
  We'll see you in the next one. Peace out everybody.
• 1:24:11
  Today's episode was brought to you by bitcoinwell.com, a
• 1:24:14
  Bitcoin only platform on a mission to enable financial
• 1:24:17
  independence.