Latest / Simply Bitcoin / Coinbase's $400B BITCOIN BACKFLIP CONFIRMS 2025 Is Different!| EP 1238

Transcript

Coinbase's $400B BITCOIN BACKFLIP CONFIRMS 2025 Is Different!| EP 1238 · Simply Bitcoin

• 0:00
  Yeah, the world's largest exchange just made a move that
• 0:03
  might completely change everything for this Bitcoin
• 0:07
  cycle. One of the largest promoters of
• 0:09
  all coins in the world just dropped a brand new viral
• 0:14
  Bitcoin commercial, which confirmed that something could
• 0:17
  be different this cycle. So pay very close attention to
• 0:21
  this video. We're about to play for you guys
• 0:23
  that aid that aired during the NBA Finals and 10 million people
• 0:30
  watched it. You guys hear me talk about the
• 0:32
  shifting of the Overton window. This is how it happens.
• 0:35
  Anyways, let's check out the ad and then we'll talk about it.
• 0:39
  If a Bitcoin was the size of 1/4, all 21 million of them
• 0:43
  would fit inside a single shipping container.
• 0:47
  But to fit the dollars that Fed prints on average every day,
• 0:50
  you'd need 72 shipping containers.
• 0:54
  Each year you'd need 26,280 containers, and to fit what
• 1:00
  they've rinted in the last decade, well, you'd need a lot
• 1:04
  more than that. So I mean, this is talked about
• 1:12
  again during a mainstream event, a non Bitcoin event.
• 1:16
  It's basically revealing the truth about the money printing.
• 1:19
  It's basically revealing the truth about the absolute
• 1:22
  scarcity of Bitcoin. What makes Bitcoin unique.
• 1:25
  Again, the focus was on Bitcoin. Even though this is an altcoin
• 1:29
  casino, it wasn't on the altcoins, which I found very,
• 1:33
  very interesting. Also on another note, check out
• 1:36
  this article from Decrypt. Corporate Treasuries will add
• 1:40
  $330 billion in Bitcoin by 20/20/29.
• 1:46
  Before we jump into the article, I do want to welcome my
• 1:48
  legendary Co host who's always optimistic optimist Fields and
• 1:52
  of course our very special guest for today we got Frank Korva in
• 1:56
  the house. Frank Korva is the political
• 1:58
  correspondent for Bitcoin Magazine.
• 2:01
  Ladies and gentlemen, this is the first Bitcoin journalist,
• 2:04
  Bitcoin reporter LED into the White House and he had some
• 2:07
  awesome interviews with Howard Sputnik and Bo Hines are going
• 2:11
  to be talking about that during the culture segment.
• 2:14
  Before we get to it, smash the like button.
• 2:16
  There's already 500 of you guys watching live if you guys are
• 2:18
  enjoying simply Bitcoin. Anyways, let's jump into today's
• 2:21
  article. Corporate treasuries will add
• 2:23
  $330 billion in Bitcoin by 2029. It goes on to say corporate
• 2:28
  money is going to keep flowing into Bitcoin as big companies
• 2:31
  buy the cryptocurrency. Analyst Ed Bernstein said in a
• 2:35
  Monday note predicting $330 billion in inflows over the next
• 2:41
  five years. The investment firm analyst
• 2:44
  predicted that strategy will account for most of the
• 2:47
  purchases, with smaller firms trying to copy the software
• 2:51
  developer turned Bitcoin treasury business model NASDAQ
• 2:54
  listed. MSTR started buying Bitcoin in
• 2:57
  2020 as a way to generate returns for its shareholders
• 3:01
  during the pandemic. Strategy now holds 550.
• 3:06
  Five 155,000 BTC worth 50 $2 billion in today's prices.
• 3:13
  Check out this Forbes article This is not a YouTube thumbnail
• 3:18
  or YouTube title. This is directly from Forbes.
• 3:22
  The article the the headline is leak reveals Wall Street is
• 3:25
  quietly gearing up for a huge Bitcoin and crypto price boom.
• 3:30
  It goes on to say Bitcoin and crypto prices have been thrust
• 3:34
  into the spotlight by U.S. President Donald Trump.
• 3:36
  This year the Bitcoin prices rebounded to around 90, $5000
• 3:41
  per coin after dropping to April lows of 75,000.
• 3:45
  Now as Bitcoin hurdles towards what Bitcoin ETF giant BlackRock
• 3:49
  has called a geopolitical fragmentation megaforce shock, a
• 3:54
  leak has revealed Wall Street companies are quietly betting on
• 3:58
  a Trump fueled Bitcoin price rally.
• 4:02
  It goes on to say high speed trading giant Tower Research
• 4:06
  Capital has joined Citadel Securities and bulking up its
• 4:10
  bet on crypto currencies, it was reported by Bloomberg.
• 4:14
  One of Tower Research Capital's trading groups has quote
• 4:18
  increased capital allocation to its crypto trading book and it
• 4:22
  upgraded its crypto market infrastructure, the source told
• 4:26
  the financial news wire. Wall Street is quietly ramping
• 4:29
  up its support for Bitcoin and crypto as the Trump
• 4:32
  administration promises to Open Access to Bitcoin trading and
• 4:37
  crypto markets, rolling back Biden era restrictions and fast
• 4:41
  tracking legislation that will rewire the financial system.
• 4:46
  I'll leave it at that and I'll just put the pieces together,
• 4:49
  try to weave it all back in. So on the retail front, during
• 4:53
  the NBA playoffs, you have a coin based commercial basically
• 4:56
  saying that Fiat money is a scam.
• 4:58
  They're printing it into oblivion.
• 5:00
  This is absolutely crazy. This is unsustainable.
• 5:03
  You have the CEO of Charles Schwab basically announcing that
• 5:08
  within the next 12 months, they're going to allow spot
• 5:11
  Bitcoin trading on the platform. And you have this article from
• 5:15
  Forbes basically confirming that, hey, Wall Street is on the
• 5:18
  verge of accumulating massive amounts of Bitcoin as they're
• 5:23
  looking at Michael Saylor's success story with strategy.
• 5:28
  Strategy has become the strategy for Wall Street, and it's very,
• 5:33
  very exciting. Now what I will say, I'm going
• 5:36
  to pass it off. I'm going to pass it on to Frank
• 5:39
  and I have a huge amount of respect for Frank and I'm big
• 5:42
  fan of his work and what he's done.
• 5:45
  Love the interview that he just did with Howard Lupnik.
• 5:48
  And what I will say is that Frank, from a news perspective,
• 5:52
  which is really good for people like us to talk about the news
• 5:54
  and do these interviews from a news perspective, this cycle has
• 5:58
  been the best cycle in bitcoins history, right by far.
• 6:03
  In 2018, if we heard all of this news, I think the price would
• 6:07
  have 5X within 20, 24 hours, right?
• 6:10
  But from a price action perspective, it's actually been
• 6:13
  a little bit muted. It's actually been a little bit
• 6:15
  boring. So what's your take on this,
• 6:18
  man? You have more of an insider
• 6:20
  view. You were at the White House, you
• 6:22
  know, you were talking to cabinet officials of the Trump
• 6:25
  administration. You know, we're getting all this
• 6:27
  bullish news to the announcement of the strategic Bitcoin
• 6:29
  reserve, the executive orders by the Trump administration.
• 6:33
  But it seems like the price action is basically saying, you
• 6:35
  know what, Bitcoin is now a stable coin.
• 6:38
  Frank, what are your thoughts? It's a good question.
• 6:41
  Something to think about. What I think is that people are
• 6:44
  just not yet. We haven't fully digested what
• 6:47
  these tariffs mean and what a lot of the Trump policy means.
• 6:50
  And I'm not even sure that everybody in the administration
• 6:53
  knows what the ramifications of them will be, whether positive
• 6:56
  or negative. We're in, I won't say uncharted
• 6:59
  territories. We've seen tariffs used before
• 7:01
  in the history of the United States, but not like this.
• 7:04
  And no time in the near future. I don't think we've seen
• 7:06
  anything like this since the early 1930s or so.
• 7:10
  So I think there's a lot of confusion.
• 7:11
  I think regardless, I mean, if you look at the dips in the Dow
• 7:14
  Jones and the S&P 500, some of the other, the major indices
• 7:18
  that people use to preserve their wealth, I think the
• 7:21
  Bitcoin has actually held up pretty well all things
• 7:23
  considered. So I think it's a bit of a
• 7:26
  waiting game right now. Maybe part of the reason that
• 7:29
  Bitcoin is holding up so well is because the administration has
• 7:32
  said that they're bullish Bitcoin, bullish the broader
• 7:34
  crypto ecosystem. I know we're just talking about
• 7:36
  Bitcoin here, but it's, but you know, maybe people sort of feel
• 7:39
  like there there isn't going to be sort of the regulation by
• 7:43
  enforcement approach. And I know that that mostly
• 7:46
  affected crypto under Gensler and the previous administration.
• 7:49
  But you have to remember that a lot of exchanges like Coin Base,
• 7:52
  the exchange you were talking about earlier in the program
• 7:54
  also sell Bitcoin, right? So Bitcoin is sort of impacted
• 7:57
  by this stuff. We're seeing a different, we're
• 7:59
  seeing a shift now and again. I think also the narrative when
• 8:03
  you have the Secretary of the Treasury coming out and saying
• 8:06
  that Bitcoin is a store of value, obviously the game has
• 8:09
  changed. I was talking with someone
• 8:11
  recently, I think it was Senator Lummus, who said something along
• 8:15
  the lines of when she brought up the idea of Bitcoin to Secretary
• 8:19
  Yellen, the previous Treasury Secretary, Yellen literally like
• 8:23
  laughed her off and shoot her out of her office.
• 8:25
  And now we have her predecessor, we have the person who's
• 8:27
  followed her, her successor, talking about Bitcoin as a store
• 8:30
  of value. Now granted, I know it's not
• 8:32
  just a store of value and Bitcoin is money and all this,
• 8:35
  but I would say it's a start and it's surely part of the shifting
• 8:38
  of the Overton window as you mentioned earlier. 100% I always
• 8:41
  get so much heat by talking about this term, the Overton
• 8:45
  window and Frank, you were mentioning it earlier.
• 8:48
  And for anyone who understands politics just a little bit,
• 8:51
  essentially the Overton window, it it it essentially what it
• 8:55
  means is the acceptable window of discourse.
• 8:57
  Our job as Bitcoin content creators is to continue to shift
• 9:01
  that window. Imagine where we were five years
• 9:03
  ago even last year with the previous administration.
• 9:07
  Our industry was under attack from a regulatory perspective,
• 9:10
  the so-called operation choke .2 point O think about all the
• 9:14
  progress we've made. We have a pro Bitcoin
• 9:16
  administration in the White House.
• 9:18
  I mean we are definitely heading you know we're definitely on the
• 9:22
  right track. That's to that that's for sure,
• 9:25
  but that Coinbase commercial also I do want to give a shout
• 9:28
  out to the the rumble audience broke 600 live viewers real
• 9:32
  quick. It dipped a little bit and I
• 9:33
  also do want to give a shout out to the YouTube and X live stream
• 9:37
  over 1000 live viewers. So appreciate you all appreciate
• 9:39
  all you all thank you guys so much smash the like button if
• 9:42
  you guys smash the like button. If you guys are enjoying the
• 9:44
  show, help us break 150 likes within the 1st 25 minutes of the
• 9:49
  show anyways. I do want to give, I do want to
• 9:51
  pass the mic to Opti Opti. I mean, listen, I know we're not
• 9:55
  huge fans of Coinbase here at simply Bitcoin.
• 9:58
  You know, this is a a Bitcoin show after all.
• 10:01
  But I will say that is a pretty good commercial.
• 10:05
  And they weren't really shilling altcoins.
• 10:08
  They were really shilling Bitcoin.
• 10:10
  You know, they were talking about bitcoins in that container
• 10:12
  and they said the future of money.
• 10:15
  And then they said Coinbase is Coinbase pivoting.
• 10:17
  What I will say is that Brian Armstrong started Coinbase in
• 10:22
  2013, all right? And Microstrategy's market cap
• 10:26
  was like a fraction of Coinbase's market cap.
• 10:29
  Like they had a massive head start, like massive head start.
• 10:33
  The fact that Coinbase owns less Bitcoin than MicroStrategy is
• 10:40
  like, you know that that's not that's that's an absolute
• 10:43
  embarrassment. That's that's my take on that
• 10:45
  anyways. Opti, that commercial was good
• 10:47
  though from a media perspective that was some grade A Bitcoin
• 10:51
  propaganda. Yeah, and furthermore, just it
• 10:54
  when it aired, I think is also some very important contacts in
• 10:57
  the middle of the NBA playoffs. It's like it's getting into a
• 11:01
  whole new audience. And I think this is where the
• 11:03
  question kind of remains for me personally.
• 11:06
  I if you've been in Bitcoin for a while, you kind of understand
• 11:09
  what Coinbase does every once in a while.
• 11:11
  They they do this like orange washing.
• 11:13
  You know when when things start looking bad for them, they go
• 11:16
  full Bitcoin and when it starts doing good and when the bull run
• 11:20
  territory blow off top is when they start shilling all this
• 11:23
  garbage. And so I think the real question
• 11:25
  right now is, you know, what is their incentives here?
• 11:28
  Like why are they doing the move that they're doing right now?
• 11:31
  And from my perspective, I am kind of like when we were kind
• 11:35
  of crafting the show, I was going down the route that it
• 11:37
  seems like either they're doing kind of the, you know, bait and
• 11:41
  switch that they're going to do and they they always do.
• 11:43
  This is kind of their, their MO at this point.
• 11:46
  But when you kind of connect it with that Forbes article and the
• 11:49
  decrypt article, it does make me think that maybe they are
• 11:53
  understanding that retail isn't going to go into all the
• 11:56
  altcoins and all the shit coin markets.
• 11:58
  And there might be a whole new Ave. and route for retail, which
• 12:02
  is of course, these Bitcoin stocks and all these corporate
• 12:04
  treasuries and the ETFs now. And so if this is kind of a, you
• 12:09
  know, projection of where things are going, it may seem like a
• 12:13
  lot of the new liquidity, the new retail coming in is going to
• 12:16
  go into Bitcoin in some form or the other, whether that's
• 12:19
  Bitcoin stocks, whether that's the ETF inflows or spot Bitcoin
• 12:22
  itself. And I'm not going to say that
• 12:24
  the altcoin markets are over because I think people will
• 12:27
  always gamble, but I think this might be a telling move that
• 12:30
  they're probably seeing what we're seeing.
• 12:31
  And considering we have Frank here, it's not like we're seeing
• 12:34
  a lot of nation states talk about anything else besides
• 12:37
  Bitcoin. And I think this might be a sign
• 12:39
  of the writing on the wall here where they have to adjust their,
• 12:43
  their, their rhetoric, their MO, their company ethos, because
• 12:47
  they're probably seeing a lot of flows on the back end and it's
• 12:49
  probably blowing everything out of the water and all the
• 12:52
  interest is going into Bitcoin. So if this is a sign of the
• 12:56
  times where now all the new retail liquidity is going into
• 12:58
  Bitcoin in some again, some form or the other, that's obviously
• 13:02
  going to be huge for Bitcoin, for the price, for the adoption
• 13:04
  of people using Bitcoin. And it might be one of the
• 13:07
  final, you know, nails in the coffin for all coins here
• 13:10
  because hey, we like we've been saying it forever and I don't
• 13:13
  think all coin gambling's ever going to go away.
• 13:15
  But if the majority of capital goes in the Bitcoin, something
• 13:20
  that we try to do here and talk about constantly, it will
• 13:23
  separate Bitcoin from crypto. And that's like the biggest
• 13:25
  thing that does Bitcoiners Maxie Bitcoin Maxie's want to do
• 13:29
  continue to push. It's like there is Bitcoin and
• 13:31
  there's everything else. And so if this is their pivot
• 13:34
  into essentially being like, look, we kind of have to move
• 13:38
  our company motto away from shilling all of this hot garbage
• 13:41
  because all the interest is in Bitcoin.
• 13:43
  I think that's going to just further push what we've been
• 13:47
  saying. And the end of this year might
• 13:48
  get really crazy in terms of Bitcoin adoption.
• 13:51
  This might be the fork in the road here.
• 13:53
  But you know, as much as I give Coinbase crap, you know, kudos
• 13:56
  to them for putting this this commercial in front of a whole
• 14:00
  new audience. And we'll see.
• 14:02
  We'll see what. Of it absolutely 100%.
• 14:05
  I do want to give a shout out to the stream 1500 people watching
• 14:09
  live on the verge of breaking 500 live viewers on YouTube and
• 14:13
  rumbles absolutely popping off 553 live viewers and of course
• 14:18
  1000 live viewers on X. If you guys are enjoying the
• 14:20
  show so far, make sure to smash that like button.
• 14:22
  We already broke 100 likes on YouTube.
• 14:24
  Help us break 150 likes Smash that like button.
• 14:29
  Anyways, I'm going to pass it on back to Frank.
• 14:30
  Frank again, what's going on here, man?
• 14:34
  Are you are you excited for the end of the year?
• 14:36
  I know that I believe MicroStrategy or Bitcoin for
• 14:39
  corporations is currently happening today.
• 14:42
  I think the live stream starts at 2:00 PM Eastern Time.
• 14:46
  All this bullish stuff, man, all this corporate adoption.
• 14:50
  Are you what? What are your expectations for
• 14:52
  Bitcoin heading into the later half of this year?
• 14:58
  A great question. I think it will probably follow
• 15:01
  the similar sort of cycle it has followed in previous cycles.
• 15:05
  I think the only thing people should do in the short term is
• 15:07
  potentially temper expectations. There's the whole sell in May
• 15:11
  and go away. I know every time this comes
• 15:13
  around, the summertime comes around, people say this time is
• 15:15
  different. Personally, maybe this time will
• 15:18
  be I, I don't see any reason for there to be, for that to be the
• 15:22
  case. So I would imagine you probably
• 15:24
  see the latter part of this bull run.
• 15:26
  And also to contextualize this idea of bull run, please keep in
• 15:29
  mind everybody listening, Bitcoin was trading for about
• 15:32
  $15,000 at the end of 2022. So we've been in a bull run
• 15:36
  since then. So when people, you know, we see
• 15:38
  a lot of headlines like Adam Back says the bull run is just
• 15:41
  beginning. It's like, no, no, no, the bull
• 15:43
  run started like literally 2 1/2 years ago.
• 15:45
  So that's, that's my take. Please do with that information
• 15:48
  what you will. But technically, I think you
• 15:49
  could argue that that's the case.
• 15:51
  At the same time, as Optimus Fields just mentioned, you know,
• 15:54
  we usually do see a blow off top.
• 15:57
  I don't we'll see if that happens.
• 16:00
  There's a lot of paper Bitcoin out there.
• 16:02
  And I'm not saying that MicroStrategy doesn't have the
• 16:04
  Bitcoin that they're holding or that other, you know, there's
• 16:07
  just a lot of ETFs. I know there are mechanisms to
• 16:09
  make sure that the ETFs are actually holding the underlying
• 16:13
  Bitcoin, but there's only, I think one or two institutions.
• 16:16
  Bitwise is the only one that comes to mind off the top of my
• 16:18
  head that actually show their public address and, and the
• 16:22
  coins that they're holding. So I'm, I'm not saying that
• 16:24
  there's something scandalous happening behind the scenes, but
• 16:27
  you know, much like last time with FTX, there was a lot of
• 16:30
  paper Bitcoin there, there could be a lot of paper Bitcoin
• 16:33
  elsewhere. This is going to be a bit of the
• 16:35
  nature of things. I think as institutions get into
• 16:38
  the game. Institutions are not by and
• 16:40
  large set up right now. I would say institutions and
• 16:43
  nation states as well as states within the United States.
• 16:46
  When I speak with politicians at the state level and even federal
• 16:49
  politicians, and I asked them what their custodial setup is
• 16:52
  going to look like, most of them shrugged.
• 16:53
  Say we're working on that. We're speaking with industry
• 16:56
  experts. I've spoken with some of those
• 16:58
  industry experts, including Nick Newman at Casa.
• 17:01
  And I, from what I can gather, what I gather, it's a lot of
• 17:05
  people are still working this out.
• 17:06
  They're not exactly sure what that's going to look like.
• 17:08
  I hope that self custody becomes the standard.
• 17:10
  I sort of fear that maybe it won't and people will go with
• 17:13
  the bit goes of the world or the coin bases of the world.
• 17:17
  I hope that Coinbase does the right thing and that they
• 17:19
  actually have all that Bitcoin that they're holding for people,
• 17:22
  the IOU's that they're essentially promising to people.
• 17:26
  I would imagine, given how regulated of an entity it is,
• 17:29
  that that is the case. But at the same time, we still
• 17:31
  have risk for paper Bitcoin. But and also, I just think
• 17:35
  there's a lot of confusion in the macro scheme.
• 17:38
  And as Bitcoin becomes less of like a taboo, maybe risk on
• 17:42
  asset and more of a macro asset, more of a more of the sort of
• 17:46
  digital gold narrative takes hold.
• 17:48
  And in part because of like the EO, the EO that the White House
• 17:51
  put out earlier this year, Trump differentiated the Trump
• 17:54
  administration, administration differentiated getting Bitcoin
• 17:57
  from everything else, in part because the Internet almost
• 18:00
  exploded when he said we're going to create a strategic
• 18:02
  crypto reserve. Everybody lost their minds.
• 18:04
  And then about a week later, Trump came out and said, no, no,
• 18:07
  no, a Bitcoin reserve and a digital asset stockpile.
• 18:09
  So I think this sort of differentiation sends a message
• 18:13
  not only to corporations, to states, but to the rest of the
• 18:16
  world as well, that Bitcoin is something different than other
• 18:18
  digital assets. Absolutely.
• 18:20
  And I think there was a lot of uncertainty, too, when this was
• 18:23
  happening. You know, I don't want to.
• 18:26
  There was, there was a tremendous amount of pressure
• 18:28
  from essentially the altcoin lobby on the Trump
• 18:32
  administration to essentially include a lot of these altcoins
• 18:36
  into reserve. And I think the administration
• 18:38
  handled hand handled it masterfully.
• 18:41
  You know, it was like, yes, you know, Cardano's going to be
• 18:43
  there, Ethereum's going to be there.
• 18:45
  And then, you know, when push came to shove, essentially
• 18:47
  they're like, look, it's going to be a strategic Bitcoin
• 18:49
  reserve and this is going to be an altcoin stockpile.
• 18:53
  You know, I think they played it perfectly.
• 18:55
  I think I think they made all parties happy and, of course,
• 18:58
  you know, this is bitcoiners got what they were promised in
• 19:02
  Nashville. Like to put it bluntly, all the
• 19:04
  politics aside as a Bitcoin channel after all, but you know,
• 19:07
  from a political perspective, Trump was the right candidate,
• 19:11
  right. You know, we have fraud, the
• 19:12
  freedom of Ross Ulbricht, the end of operation choke .2 point
• 19:16
  O. You know, the strategic Bitcoin
• 19:18
  reserve. Now, Frank, before we move on to
• 19:20
  the numbers section, my question to you is, and you just spoke to
• 19:24
  Bo Hines and we're going to be talking, we're going to dive
• 19:27
  more into more detail during the culture starting on the show.
• 19:30
  But it it what's the, what's the latest on the strategic Bitcoin
• 19:34
  reserve? Like we keep hearing these terms
• 19:36
  like they have the intention of acquiring more Bitcoin in a
• 19:40
  budget neutral fashion. Is that even legal?
• 19:43
  Do they even have the capability of doing that?
• 19:45
  What are their intentions, Frank?
• 19:47
  It's been tough to get these answers, to be really honest.
• 19:50
  I've asked about what their intentions are, what that that
• 19:53
  budget neutral strategy to to acquire Bitcoin looks like.
• 19:56
  I've also asked do we have any sort of update on the audit and
• 19:59
  the amount of Bitcoin or digital assets in general that the
• 20:02
  government is holding. Obviously, we care more about
• 20:04
  the Bitcoin here and I've been met with some resistance when
• 20:08
  I've asked those questions. I don't know whether they've
• 20:10
  just been told not to talk about it yet or you know, someone else
• 20:14
  from the administration wants to run it, roll it out in a certain
• 20:17
  way. I think maybe a worst case
• 20:19
  scenario is, I mean, I would really hope someone didn't lose
• 20:22
  the keys. And I'm not saying just based on
• 20:25
  anything that anyone has told me.
• 20:27
  I think a worst case scenario, though, is maybe the Biden
• 20:29
  administration actually sold more Bitcoin than they let on or
• 20:33
  than they made public. And the government is, I don't
• 20:36
  know, in the process of trying to figure out what it still has.
• 20:39
  And it seems like at this point they would have figured that out
• 20:41
  already. But their messaging with it has
• 20:43
  been a bit delayed. Let's say there was, I think
• 20:46
  talk about two or three weeks ago, excuse me, David Bailey
• 20:50
  tweeting out we should see the results from the audit today.
• 20:52
  I think that was like 2 Mondays ago.
• 20:55
  And I've spoken with David about it.
• 20:56
  And you know, without saying too much, I think he's sort of
• 20:59
  eagerly waiting for the audit to come to fruition as well and to
• 21:02
  see what the results of it are. So I really don't know.
• 21:05
  I'm not just keeping, you know, I'm not keeping anything from
• 21:07
  you guys here in terms of the budget neutral strategy.
• 21:10
  I think one of the coolest strategies out there, and I hope
• 21:12
  it's something that Besen is considering, are bit bombs.
• 21:16
  Andrew Holmes I recently spoke with, he's one of the people
• 21:19
  that has sort of fleshed out this idea of bit bonds, which
• 21:21
  would be the government offering bonds.
• 21:23
  A portion of that goes to help the government stacking Bitcoin.
• 21:27
  There would also, it would also be an asset that maybe people
• 21:29
  who are a little bit uncomfortable holding their
• 21:32
  private keys. My own.
• 21:34
  I like the idea of if people do want to invest in this, there
• 21:36
  being something that doesn't have capital gains attached to
• 21:39
  it. So I think bit bonds is one of
• 21:41
  the coolest ideas I've heard thus far.
• 21:43
  I've heard the idea of revaluing gold thrown around and then
• 21:47
  taking some of the proceeds from that and buying Bitcoin with it.
• 21:50
  But I haven't gotten too much concrete information on that.
• 21:54
  But generally, I think for the most part, as you saw in the
• 21:56
  interview with Bo Hines, they haven't been super upfront about
• 22:01
  what that budget neutral strategy will look like again,
• 22:03
  nor about the amount of Bitcoin that they have.
• 22:05
  So we're still waiting on more information on that front.
• 22:08
  Incredible coverage, Frank, I think you've been doing an
• 22:11
  excellent job staying on top of all this.
• 22:13
  And that that's basically the same conclusions I'm getting to
• 22:16
  as well, right? Because it was an executive
• 22:18
  order by Trump himself basically asking the federal government to
• 22:22
  say, hey, you know, how much Bitcoin does the government own?
• 22:27
  And there was articles coming out of the US Marshals basically
• 22:31
  saying that we, we don't, we, we actually can't account for it
• 22:33
  all. I think the deadline was, as you
• 22:36
  said, like two or three weeks ago, this could be a very big
• 22:40
  scandal, right? That the previous administration
• 22:42
  was selling Bitcoin essentially. And the American public was
• 22:47
  unaware of this, right? And you know, did we just, we
• 22:50
  just broke 2000 live viewers on Rumble.
• 22:53
  Holy cow. If you guys are, if you guys are
• 22:56
  enjoying the show, smash that like button.
• 22:59
  Solid 560 people watching live on YouTube.
• 23:03
  Solid 1300 people watching live on X.
• 23:05
  So if you guys are enjoying the show, smash the like button.
• 23:07
  Consider subscribing to Simply Bitcoin.
• 23:09
  But yeah, excellent coverage. Frank, I've been following your
• 23:12
  X account very, very closely and let's see what the results of
• 23:16
  the audit are going to be. I mean, if DOGE is any engine
• 23:19
  and I don't mean the altcoin, if DOGE was any indication in terms
• 23:24
  of the shenanigans, some of the Sinead, I'm going to say this
• 23:27
  very nicely. I don't know how I can say this
• 23:32
  very let's just say it's the OR some of the some of how this is
• 23:41
  organized in the record keeping in DC could be improved.
• 23:45
  I'll say it that way. Anyways, Opti, what's your take
• 23:48
  on all this, my friend, before we move on to the numbers
• 23:52
  segment, where is where's the Bitcoin?
• 23:54
  Where's the audit, Opti? Where's the audit?
• 23:56
  Where's the goal? That's the goal.
• 23:57
  Is the goal that Fort Knox Opti. I have no clue, but I mean, I
• 24:02
  echo what Frank's been saying. I, I think when we got, I forget
• 24:05
  when it was we, we had the official date coming out of the
• 24:08
  executive order and then we had David Bailey kind of saying it
• 24:11
  might happen this week. And I think if you've been
• 24:13
  following this, we're all wondering like, where is the
• 24:15
  Bitcoin and essentially what Frank things like did the Biden
• 24:19
  administration basically empty all that Bitcoin?
• 24:21
  You know, we probably don't have as much Bitcoin as we claim if
• 24:25
  that is the case. And then you kind of go into
• 24:28
  the, the geopolitical factors of this, then does that mean we
• 24:31
  have less Bitcoin than China? And then further, that would
• 24:34
  probably explain for why the price is as low as it is, is
• 24:38
  because they dumped, what was it, 190,200 thousand coins?
• 24:42
  So we've all been asking 2 questions really.
• 24:44
  You know, where is the US government's Bitcoin?
• 24:47
  And two, where is all the Bitcoin that coming from that
• 24:50
  people are selling because it makes no sense to anyone.
• 24:52
  And if that does get answered, then we know you know, where the
• 24:56
  smoking gun was. So, well, I guess we'll let
• 24:58
  we'll know when we get an audit here what happened.
• 25:01
  Yeah. 100%, man. Let's see.
• 25:04
  We'll stay, we'll stay tuned. We'll, we'll be on top of it.
• 25:07
  I'm sure Frank will be the first to break the news.
• 25:10
  So guys, go check out Frank's account.
• 25:12
  Go check out the Bitcoin Magazine account.
• 25:13
  They do incredible, incredible reporting.
• 25:16
  And you guys are, are officially part of the White House.
• 25:20
  You guys have a White House press pass, is that correct?
• 25:22
  We're working on the official one.
• 25:24
  I'll be down there in about 9 days trying to work out the
• 25:27
  final details on the hard pass, but we have soft passes when we
• 25:30
  need them. Shout out to the White House.
• 25:32
  I want to also shout out Caitlin Doerr, who does the digital
• 25:36
  communications outreach, actually did an interview with
• 25:38
  him. He's the White House deputy
• 25:41
  comms director. They, this administration has
• 25:45
  very, very masterfully not only reached out to Bitcoin
• 25:48
  enthusiasts and acknowledged that they exist as a voting
• 25:51
  bloc, but also I just think alternative media and we're at
• 25:55
  the perfect cross section of that, right?
• 25:56
  So like big alternative Bitcoin media, not that there's any
• 25:59
  mainstream Bitcoin media. So yeah, whenever there's
• 26:02
  something going on at the White House that they can invite us
• 26:04
  to. So, for example, when I went to
• 26:06
  go do those interviews with Howard Lutnick and Bo Hines and
• 26:09
  and Caitlin himself, what it was was they were actually for the
• 26:13
  first to celebrate or to commemorate the first 100 days
• 26:17
  of Trump being in office again. They brought it was
• 26:20
  predominantly or only alternative media.
• 26:23
  Maybe they called it new media in to have discussions with
• 26:27
  high-ranking members of government.
• 26:29
  I thought one of the coolest things about this whole setup
• 26:31
  was that nobody screened my questions.
• 26:33
  When I sat down with Howard Lutnick, I had not been in touch
• 26:36
  with his people. Nobody had look, nobody had said
• 26:38
  what you want to ask. They actually just, you know,
• 26:40
  gave me 20 minutes with him and said talk with him about what
• 26:43
  you want to talk with him about. And I think that this is just
• 26:46
  incredible. I'm not a super political
• 26:48
  person. I know that sounds weird.
• 26:49
  As a political correspondent, I would only just say that I think
• 26:52
  everyone around the world, not just Democrats in the United
• 26:55
  States, but I think every part political, you know,
• 26:58
  politicians, political party should all be watching what
• 27:01
  Trump's doing, inviting people in to the halls of power and
• 27:05
  allowing them to ask the questions that they want to ask
• 27:07
  and to report back to their different groups on, on what's
• 27:10
  happening. I think it's really, especially
• 27:12
  when there's someone with, when there's people with nuance and
• 27:14
  specialty. You know, for us, we, we cover
• 27:17
  specifically Bitcoin and I think it's a really cool thing because
• 27:20
  we can report back to our community about, you know,
• 27:23
  specifically what Howard Lutnick thinks about Bitcoin.
• 27:25
  You can sort of maybe gather that stuff.
• 27:28
  You know, I think Pomp interviewed him before he became
• 27:30
  the secretary of the Treasury, had the all in guys interview
• 27:33
  him as well, but they didn't really touch on Bitcoin.
• 27:36
  It just gives, you know, the White House is giving
• 27:38
  alternative media outlets and ability to sort of allow people
• 27:41
  who have a very specialty in a subject matter to report back to
• 27:44
  their audience in a very authentic way.
• 27:46
  So I think this is, you know, something really exciting about
• 27:50
  this administration and you know, it's surreal to me.
• 27:54
  I come from the world of like DIY hardcore and punk rock and
• 27:58
  putting out zenes. I started writing about Bitcoin
• 28:00
  just on the sub stack account. So for, you know, for four years
• 28:03
  after starting to do that on a sub stack account, to be the
• 28:06
  person that Bitcoin magazine sends to the White House to go
• 28:08
  talk to someone. On some level, you know, it
• 28:11
  really is indicative of the American dream, or at least this
• 28:14
  American ethos where if you work hard enough and you care enough
• 28:17
  about something, you could sort of be there being the one doing
• 28:20
  it and reporting back to your audience about it.
• 28:22
  So it's been, it's been a surreal experience.
• 28:25
  Yeah, and I can, I can imagine, man, that's freaking awesome.
• 28:28
  And, and look, this is the way that journalism is supposed to
• 28:31
  work. I know that like, you know, it's
• 28:34
  been kind of like dwarfed a little bit, you know, the last
• 28:38
  five years or so. But this is how it's supposed to
• 28:41
  work. Like the free access to
• 28:43
  essentially the executive branch, which is supposed to,
• 28:46
  you know, represent the American people and, and work for the
• 28:50
  American people. That's how it's supposed to
• 28:52
  work. And I think obviously the
• 28:54
  Internet has changed the ball game.
• 28:56
  It's democratized media. Anyone could just buy a
• 28:59
  microphone, get a camera and build up an audience.
• 29:02
  And I think the White House is coming to that realization.
• 29:05
  They're saying, OK, you know what?
• 29:06
  Listen, the reality reality is that most people, more people
• 29:11
  are watching to the Joe or watching the Joe Rogan podcast
• 29:14
  or the Tim Poole podcast, the legacy media.
• 29:17
  Why aren't they in the room, right?
• 29:19
  And that's a very, very. And despite how they react to
• 29:22
  that, that's the reality, right? So they should have equal access
• 29:27
  to essentially, you know, the the the White House and be able
• 29:30
  to ask them questions. So do you want to give a shout
• 29:33
  out to the live stream 2000 live viewers between YouTube and X
• 29:37
  and a little bit the the the rumbled numbers have gone down a
• 29:41
  little bit, but still holding strong at 1600 live viewers.
• 29:43
  If you guys are enjoying the show so far, smash that like
• 29:46
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• 32:07
  Alright everybody, let's hit the numbers.
• 32:08
  We have tons to talk about. We'll be right back in just a
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  today all right everybody, we are back.
• 33:49
  I do want to give a shout out to the Super chat Mexico Huddle
• 33:53
  says thank you for the $20 brother.
• 33:55
  He says all Bitcoin Bros need is Bitcoin and I don't know what
• 34:00
  that is Opti, but Opti don't say that don't say that take it off
• 34:04
  the screen. Opti knows what that is.
• 34:06
  I I'm sorry guys, if that is inappropriate, but yeah, I don't
• 34:12
  know. I don't know what that means.
• 34:15
  Oh, God, dude, what are you doing, brother?
• 34:18
  OK, Anyways, I do. I want to give a shout out to
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• 34:37
  Bitcoin price is 94,410 eight block height 895,540 sats per
• 34:43
  dollar. 1059 market cap 1.88 trillion Bitcoin versus gold
• 34:47
  market cap 7.82% Percentage issued 94.57% declined from all
• 34:52
  time high you get if you buy Bitcoin right now, you're
• 34:55
  getting it at a negative, a 13.5% discount.
• 34:59
  My favorite stat out of all of this is the realized monetary
• 35:02
  inflation continuing to take Fiat currencies to absolute
• 35:05
  school, sitting pretty at .84%. Even if the Fed gets it back to
• 35:11
  2%, Bitcoin is still kicking it's ass anyways.
• 35:14
  So strategy world I think is happening today.
• 35:18
  Yes, Strategy World 2025. I will have a clip for you guys
• 35:22
  regarding Michael Saylor talking about AI and Bitcoin.
• 35:25
  I was watching some of his talk earlier.
• 35:27
  It was absolutely fascinating. Strategy is an absolute success
• 35:31
  story. This is what you guys have to
• 35:33
  understand. I know our friends over at
• 35:34
  Bitcoin magazine. You guys are doing the the
• 35:37
  coverage of strategy world. So I'll ask frank some questions
• 35:40
  regarding that and of course our friends over at Bitcoin
• 35:42
  magazine. They do an incredible job every
• 35:44
  time they, you know, they do these, these conferences and,
• 35:47
  and all this stuff. But anyways, so strategy is an
• 35:52
  absolute success story. I mean, outperformed every other
• 35:55
  stock on an S&P 500, absolutely crushed it.
• 35:59
  I never forget Bitcoin 2021 in Miami.
• 36:04
  First time I ever got mainstage at a Bitcoin conference.
• 36:08
  They threw me into the pit. Never forget that.
• 36:12
  And that was one of the most epic Bitcoin conferences.
• 36:14
  That was when Sailor, that was when Max Keiser was interviewing
• 36:18
  Michael Saylor. That's when President Buchele
• 36:20
  made his announcement. That's when Ross Albrecht
• 36:22
  actually made a video from from prison that was played during
• 36:26
  the conference. And back then no one knew.
• 36:30
  I wish I would have bought MicroStrategy, bro.
• 36:31
  God damn. You know, he absolutely crushed
• 36:34
  it. Michael Saylor crushed it,
• 36:36
  adopting a Bitcoin strategy. This was a company that was on
• 36:40
  the brink, Sailor said, Listen, we were going to go out of
• 36:43
  business. We're going to go back out of
• 36:46
  business. Inevitably, it was either going
• 36:48
  to happen quickly or slowly. But essentially we had no
• 36:52
  alternative. We have no, we had no way to
• 36:54
  maneuver. So we adopted a Bitcoin strategy
• 36:57
  and look at what they did. They 100 X their market cap.
• 37:00
  They were like at a billion dollar market cap and now
• 37:02
  they're like 100 billion, I think at the peak, right?
• 37:04
  So absolutely crazy. And of course, so now they're
• 37:09
  doing strategy worlds. And here is Mauricio, he is the
• 37:13
  Co founder of Leaden lead is one of our sponsors.
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  want a Bitcoin back loan. Anyways, so Mauricio, he's at
• 37:31
  the event standing room only at the micro strategy Bitcoin for
• 37:35
  corporations opening keynote. The revolution will be
• 37:38
  televised. I mean that room is absolutely
• 37:40
  packed. Why wouldn't it be packed?
• 37:42
  I mean this, this stock is 10 Xing, right?
• 37:45
  Like what is going on here? And Michael Saylor's found an
• 37:48
  infinite money glitch and he just continues to like raise
• 37:52
  capital very cheaply and buy more Bitcoin and he's already
• 37:56
  had 500,000 Bitcoin and he might end up with a million Bitcoin.
• 37:59
  Like what's going on? It's absolutely crazy.
• 38:01
  Anyways, here's a small clip from the event this morning and
• 38:04
  then we will talk about it. I, I, I, I actually recommend
• 38:08
  watching. It was really cool.
• 38:09
  I think part of the live stream was on the strategy YouTube
• 38:12
  channel and I know some of the live streams going to go on the
• 38:16
  Bitcoin magazine channel, I think starting at 2:00 PM.
• 38:18
  So I highly recommend watching it so much signal there anyway,
• 38:22
  so check out the clip Digital capital Bitcoin homogeneous.
• 38:29
  You know, a Bitcoin is a Bitcoin and what you're going to see is
• 38:32
  is companies are going to create extraordinary products,
• 38:36
  extraordinary services. There's going to be 100 X
• 38:40
  increase in productivity. There's going to be a 100 X
• 38:45
  increase in in everything. We're going to produce more of
• 38:48
  everything in every way that everybody can imagine.
• 38:51
  And if you're a corporation, if you're a private actor, if
• 38:56
  you're a capitalist, what are you going to do with that
• 38:58
  capital? You're going to roll it into
• 39:01
  Bitcoin. The AIS are going to want to are
• 39:03
  going to want to buy the Bitcoin, the companies are going
• 39:06
  to buy the Bitcoin. The demand is going to be for
• 39:09
  the most scarce desirable liquid fungible capital asset.
• 39:14
  And so the explosion of productivity with digital
• 39:19
  property and digital intelligence and digital labor
• 39:22
  will create an explosion in demand for digital capital.
• 39:27
  And I think all of those are just mutually beneficial trends.
• 39:33
  And if you're a company, you just want to figure out how your
• 39:36
  shareholders benefit, how your customers benefit, how, how your
• 39:43
  so, so much to unpack there. You know, when Michael Saylor
• 39:46
  was saying this stuff, you know, a couple years ago, like it was,
• 39:52
  you know, it's just like pure fire, like so much, so much
• 39:56
  signal so much, so much things just packed into it.
• 40:00
  But I wish I would have just read between the lines and just
• 40:03
  said, OK, I should have probably bought MicroStrategy because it
• 40:07
  was like so obvious, right? In hindsight, hindsight's 2020.
• 40:11
  But I think he's absolute. Look, he's been spot on with
• 40:15
  everything he's called so far. So to think that what he just
• 40:20
  said is incorrect, I think is, is naive.
• 40:24
  And one of the things too also that I'm very, very bullish on
• 40:28
  other than Bitcoin is like the rise of AI, like, I mean, it's
• 40:32
  getting ridiculous. Like I'm using, you know,
• 40:35
  whatever floats your boat. Like there's Grok, there's
• 40:37
  ChatGPT, there's like a zero, there's a bunch of them, right?
• 40:42
  I, I like, I use it almost on a daily basis for things, right?
• 40:45
  Like it's, it's getting so incredibly good.
• 40:49
  And he said it there. He's like, AI is going to buy
• 40:52
  Bitcoin. Like, why wouldn't it?
• 40:54
  It's the only cryptocurrency that is, isn't centralized.
• 40:59
  It's absolutely scarce. You can't change the rules,
• 41:03
  right? So it protects essentially
• 41:05
  everybody like Michael Saylor doesn't have more influence over
• 41:07
  the network than, you know, let's say the, the, you know,
• 41:10
  the everyday Bitcoiner that perhaps has .01 Bitcoin, right?
• 41:14
  So you know, it's, it's very equal equitable system, right?
• 41:17
  So anyways, Michael Saylor continuing to drop the fire and
• 41:21
  also, you know, shout out to the to the success of strategy.
• 41:24
  I mean, they deserve it. You know, this is this is
• 41:26
  incredible success story, a company that essentially went
• 41:29
  sideways for like 20 years. Essentially the stock was not
• 41:35
  moving at all. It peaked in the 90s, the.com
• 41:40
  bubble bust. They survived and essentially
• 41:43
  just, it was just, it was like a stable coin essentially like
• 41:46
  what Bitcoin has become. And then, you know, all of a
• 41:49
  sudden they adopted a Bitcoin strategy.
• 41:52
  The stock pumped in the 2021 bull market crashed.
• 41:56
  You know, Sailor paid his price of tuition and then bam, Bing,
• 42:00
  bam, boom, the, you know, the 2024-2025 cycle hit and the, you
• 42:05
  know, MicroStrategy went absolutely parabolic.
• 42:08
  Like it's been this is, this is Bitcoin.
• 42:11
  This is what Bitcoin does. And you're seeing other
• 42:13
  companies fall in the footsteps of MicroStrategy, like
• 42:16
  Metaplanet, having very, very similar success.
• 42:19
  And I'm sure many, many companies around the world are,
• 42:22
  are, are going to follow in their footsteps.
• 42:24
  Like it's inevitable. I think as a company.
• 42:27
  And you know, of course we're, you know, we're, we're, we're a
• 42:29
  small media company. Of course we have Bitcoin on our
• 42:32
  treasury. Of course you want to have
• 42:35
  Bitcoin on your treasury. Bitcoin on your treasury is a
• 42:37
  CHEAT SHEET. Your runway just gets, gets
• 42:40
  progressively longer over time. Like it is a cheat code, right?
• 42:45
  Like Apple, Google, they're sitting on hundreds of millions
• 42:49
  of dollars of cash or cash equivalents and they're
• 42:52
  literally, it's like melting ice cubes.
• 42:54
  I get it. They make so much money that
• 42:56
  they don't have the incentive to adopt something like Bitcoin.
• 42:59
  Like the reason that micro strategy adopted Bitcoin is
• 43:03
  because it had no alternative. The reason that Metaplanet did
• 43:05
  it is again, like the hotel chain got impacted a lot by the
• 43:09
  pandemic. So they're like, look, you know,
• 43:10
  this Bitcoin strategy could work.
• 43:12
  I get it. Apple's making so much money
• 43:14
  that they're like, you know what?
• 43:15
  Like it's OK like that we're losing 3% on, you know, hundreds
• 43:19
  of millions of dollars. But that's just wasted capital.
• 43:22
  Like that could be used to, you know, fund R&D to make better
• 43:26
  iPhones. The iPhone literally hasn't
• 43:28
  changed in like 5 years, bro. I think they make the cameras a
• 43:31
  little bit, they change the ports.
• 43:34
  Honestly, all of this is Opti's fault.
• 43:35
  It's always Opti's fault. But anyways, Opti, why has the
• 43:40
  iPhone not improved? I think it has to do with Fiat.
• 43:44
  I don't know, man. Go, go talk to Tim Cook.
• 43:46
  Why? Why you?
• 43:47
  Why you? Blaming me for this I I just
• 43:49
  keep buying the new ones because I need a new phone.
• 43:52
  It's it's got that planned obsolescence on it.
• 43:54
  So, you know, that's all I know from here.
• 43:56
  But first of all, I do want, I did see that stat this morning
• 44:00
  of Sailor taking strategy or MicroStrategy from $1 billion to
• 44:03
  $100 billion. And that's just absolutely
• 44:06
  insane. Like that's just a crazy metric
• 44:09
  there. And this is kind of one of the
• 44:10
  trends we've been talking about here on the show.
• 44:12
  I remember the other day when we had like the decoupling moment,
• 44:16
  everyone's looking at Bitcoin right now or, and further
• 44:18
  looking at what strategy's done, what Michael Saylor has done.
• 44:22
  And I'm sure that at the highest levels they are having these
• 44:25
  conversations and they're like, is this it's feasible for us?
• 44:28
  Because it's just nuts. The, the statistics around
• 44:31
  strategy right now is just insane.
• 44:33
  I, I really, it's, it's starting to seem like impossible for
• 44:38
  anyone to come in and do what sailor's done.
• 44:40
  And I keep kind of trolling that sailor's going to be like the
• 44:43
  first trillionaire on planet Earth.
• 44:45
  He's going to be God king here soon enough because he has so
• 44:47
  much Bitcoin. It's just insane.
• 44:50
  But the second point on that AI clip, personally, I'm not the
• 44:53
  biggest AI guy here. Like I I think AI bubble is kind
• 44:57
  of overhyped. Yes, I'm using AI for like, you
• 45:00
  know, searches and stuff, but I'm not the like Cole AI is
• 45:04
  going to take over the world kind of guy.
• 45:05
  I'm I'm kind of more skeptical on AI, but this does remind me
• 45:09
  of what Andres Antonopoulos was saying back in, you know, like
• 45:12
  2015, 2013. Like Andreas Antonopoulos has
• 45:15
  been saying something very similar for a long, long time
• 45:18
  that a is will be, you know, sending Bitcoin back and forth
• 45:22
  or I forget how he framed it. I think it was like machine to
• 45:24
  machine payments or something like that.
• 45:26
  So like this isn't a new novel idea.
• 45:29
  I think Sailor is just kind of tapping into the collective
• 45:33
  genius of the Bitcoin community and seeing that like this is
• 45:36
  definitely going to happen. And this is probably why, you
• 45:40
  know, we're going to be living in a better world, whether you
• 45:42
  like AI or not. I think this is an inevitability
• 45:45
  that this will probably happen. Machines will be using Bitcoin
• 45:49
  to send payments to each other. I don't think we're there yet,
• 45:52
  but I do think that it's going to be in the future.
• 45:56
  Absolutely man, good good point. So the TLDR Opti is responsible
• 46:01
  for the planned optholescence of the iPhones.
• 46:03
  Frank, what are your thoughts on sailors thoughts?
• 46:07
  I think Michael Saylor is an incredibly intelligent
• 46:09
  individual who is in touch with people who are in the know about
• 46:12
  stuff like this. And I think it's good that he's
• 46:14
  out there talking about Bitcoin being the preferred money of AI
• 46:17
  because I think the a 16 ZS and the other ventral capital firms
• 46:22
  out there who are going to promote other coins and tokens
• 46:25
  to be the money of AI. You know, I think that that's
• 46:27
  going to be a thing and we're going to need to sort of win.
• 46:30
  Well, it's hard to tell. AI will decide what it wants to
• 46:33
  use as money, I guess. But I think given this is a
• 46:37
  silly thing to say, but given how smart AI is becoming and is,
• 46:41
  I would imagine it's going to opt to use something like
• 46:43
  Bitcoin that has far more characteristics of money than
• 46:46
  any other crypto asset out there.
• 46:48
  So I'm actually, I'm cautiously optimistic about this only
• 46:53
  because I think there's going to be many, many efforts to for,
• 46:56
  for like I said, VCs and certain firms to try to push for other
• 47:01
  money to be the money of AII think in the long term, Bitcoin
• 47:05
  wins. I'm sure the people that Sailor
• 47:08
  is speaking with have incredible insights on this, and I
• 47:11
  appreciate him relaying that information.
• 47:14
  Yeah, absolutely. And he does it in such a such a
• 47:16
  masterful way. Man, Sailor Sailor's an absolute
• 47:19
  genius. Guys, before we move on to the
• 47:23
  the new segment, I do want to give a shout out to our merch or
• 47:28
  else our CFO is going to absolutely, you know, not be
• 47:31
  very happy with us. This is a limited merch drop.
• 47:34
  The first drop completely sold out very, very quickly.
• 47:38
  We should have bought more. So we did buy more guys, get
• 47:41
  yourself a simply Bitcoin hoodie, Simply Bitcoin shirts.
• 47:43
  The the hats have I think we made I think we sold like 20
• 47:47
  hats yesterday. So all this stuff is flying off
• 47:50
  the shelves. We really pay attention to
• 47:52
  quality. This is high quality merch.
• 47:54
  This is not drop shipped. We buy it, we hold it in
• 47:57
  inventory and we send it directly to you guys and custom
• 48:01
  simply Bitcoin packaging. So guys, if you guys want to
• 48:04
  support the show, head over to simplybitcoin.com and check out
• 48:07
  our latest merch collection, simply Bitcoin reborn.
• 48:11
  All right everybody let's hit the news.
• 48:13
  We have tons to talk about. We will be right back in just a
• 48:16
  second. I want to give a shout out to
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  our sponsor Casa. Casa makes self custody easy and
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  All right, everybody, this is Opti.
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  If you go to coldcard.com, you can get yourself a cold card
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  Cold storage is the way, not your keys, not your cheese.
• 50:59
  Anyways, before we get into today's news segment, we do have
• 51:02
  breaking news. Before we get to the breaking
• 51:04
  news, I will say this. Elections have consequences.
• 51:08
  Now I'm going to get to the breaking news.
• 51:10
  Frank broke it while on the show.
• 51:13
  Just in New Hampshire becomes first US state to sign into law
• 51:19
  a bill that permits the state's treasurer to create a strategy
• 51:24
  strategic Bitcoin reserve. Frank is so good at his job that
• 51:27
  he tweeted this while on simply Bitcoin live.
• 51:31
  And here is Governor Kelly Ayote.
• 51:34
  I hope I pronounced that correctly.
• 51:36
  And she says New Hampshire is once again first in the nation
• 51:40
  just signed a new law allowing our state to invest in
• 51:43
  cryptocurrency and precious metals.
• 51:46
  So shout out to governor governor Ayote and Frank, do you
• 51:50
  have any more details on this? This is this is crazy.
• 51:54
  I'm actually going to bring up that I just shared it.
• 51:55
  So part of the reason I shared it was actually had the tweet
• 51:58
  ready to go. I have, I have actually
• 52:01
  interviewed the representative or the congressperson that
• 52:05
  helped to get this bill across the line.
• 52:08
  And his story is incredible. So I wanted to shout him out
• 52:10
  here. His name is Keith Amman.
• 52:12
  So Representative Keith, Keith Amman, if you look at that same
• 52:15
  tweet, I tagged him in the tweet in a response tweet or in a
• 52:20
  comment. So Keith story is incredible.
• 52:23
  And this is one of the things that I've been trying to do as a
• 52:25
  political reporter in the Bitcoin space.
• 52:27
  So Keith first found out about Bitcoin in 2011 from a bunch of
• 52:31
  anarchists at like a freedom conference in, in Vermont.
• 52:35
  And he had moved to the state, I'm sorry, New Hampshire, not
• 52:37
  Vermont. He had moved to the state
• 52:39
  because he personally was sort of in search of living in a
• 52:41
  place in the United States where there were more, where personal
• 52:44
  liberties were appreciated and all of this.
• 52:46
  So yeah, he messaged me last night.
• 52:48
  He sent me an e-mail and then he just messaged me as we were
• 52:51
  talking here on the show. And so I one of the things about
• 52:55
  him, I did a profile on him for Bitcoin magazine.
• 52:58
  I highly recommend going and checking it out.
• 52:59
  And the reason I say this is not to be APR representative for
• 53:03
  Keith Amman is because the more I have conversations with
• 53:06
  politicians both at the state and federal level, the more I'm
• 53:10
  finding that there are plenty of old school Bitcoiners in the US
• 53:13
  government. So, you know, some people are
• 53:16
  sort of latching on to the Bitcoin bandwagon now because
• 53:19
  some people in government, I should say, are latching on
• 53:22
  because it's a hot topic. And, you know, it's just, it's
• 53:25
  something worth latching on to right now in terms of getting
• 53:29
  some attention politically. But then there are the other
• 53:31
  people who have been working behind the scenes for years.
• 53:34
  So I think Representative Amin started working in New Hampshire
• 53:38
  trying to get the legislature there to understand what Bitcoin
• 53:40
  was in 2015. So just to give some context
• 53:44
  here, this is really something worth celebrating.
• 53:46
  This isn't something that happened overnight in New
• 53:48
  Hampshire. It took a lot of education from
• 53:50
  a straight up hardcore Bitcoiner guy who got into it in 2011.
• 53:55
  Really appreciates the tenants of it.
• 53:57
  You know, one of the first people, also one of the first
• 54:00
  politician that I that I interviewed who gave me a
• 54:02
  straight up answer when I said to him, do you think Bitcoin and
• 54:06
  crypto mixers should be allowed? I say crypto too, because I
• 54:09
  think we should we should be there should be some solidarity
• 54:12
  with the Tornado Cash devs. And he was the only he was the
• 54:16
  first politician that gave me a straight up yes.
• 54:18
  She said like, yes, people are people deserve to use bitcoins
• 54:23
  as pseudonymously or anonymously as possible, and we should
• 54:26
  protect our right to use mixers as well.
• 54:28
  So again, sorry to be rude while on the show, but I wanted to
• 54:31
  highlight what Keith has done with what representative Aman
• 54:34
  has done. He's a true bitcoiner.
• 54:36
  He's doing amazing work at the state level in New Hampshire and
• 54:38
  it's a very cool story. So if you Google his name and my
• 54:40
  name, the Bitcoin magazine article should come up.
• 54:43
  Please check it out. Absolutely, man.
• 54:45
  Well, dude, I appreciate you giving him a shout out.
• 54:47
  And again, breaking news, the state of New Hampshire comes the
• 54:50
  first US state to essentially codify being a having a
• 54:56
  strategic Bitcoin reserve. So now the federal level, it's
• 54:59
  happening and on the state level it's happening too.
• 55:02
  This is just the beginning. And of course, shout out to the
• 55:05
  governor of New Hampshire for not vetoing the bill because in
• 55:09
  Arizona it was vetoed, right? It had passed both chambers, the
• 55:13
  lower chamber and the upper chamber, and then the governor
• 55:17
  of Arizona vetoed the bill. It seems like New Hampshire beat
• 55:20
  Arizona, and I think New Hampshire is going to be very
• 55:23
  well positioned for doing just that.
• 55:25
  Anyways guys before and and Frank.
• 55:28
  Before you move on though, I, I think a interesting kind of
• 55:30
  tidbit here is that New Hampshire is the home of Pork
• 55:34
  Fest, you know, porcupine Freedom Festival, which is like
• 55:37
  one of the early, early, you know, I wouldn't say only
• 55:41
  Bitcoin conference, but a lot of early Bitcoiners came out of
• 55:45
  that pork pork fest, freedom Festival.
• 55:47
  And it's like one of the, the, I would say one of the stomping
• 55:50
  grounds of the original Bitcoin kind of community out there.
• 55:54
  And so I there, you know, the simulation's winking at us right
• 55:57
  now, I think. Yes, agreed 100%.
• 56:00
  So I did want to bring up something that Frank brought up
• 56:04
  and I think that's essentially what I wanted to focus on on
• 56:07
  today's news segment before the breaking news, which is what's
• 56:11
  coming out regarding the Samurai development.
• 56:14
  Now, we've been covering this for many years now, the Tornado
• 56:19
  Cash case essentially setting the precedent for the Treasury
• 56:23
  to basically allow to sanction open source software.
• 56:27
  That's never been sanctions are supposed to be for countries and
• 56:31
  individuals. The Treasury was trying to set a
• 56:34
  precedent basically saying we can sanction open source
• 56:36
  software. Now, the reason I believe that
• 56:39
  was happening is, you know what else is open source software?
• 56:42
  Bitcoin is open source software, right?
• 56:44
  So that's a very, very slippery slope.
• 56:46
  Now, there was a lot of, you know, a lot of courtroom action
• 56:51
  coming out of BPI and Coin Center trying to essentially get
• 56:55
  that reversed during the Biden administration.
• 56:57
  None of those cases were successful.
• 56:59
  As soon as those cases were shot down in court, literally a week
• 57:03
  or two after the samurai wallet guys were were arrested.
• 57:07
  So I think this was political maneuvering on an expert level.
• 57:10
  I think they started with Tornado Cash because it was a
• 57:14
  relatively unknown mixer. And then when they set the
• 57:17
  precedent on the legal level, then they moved to Samurai.
• 57:20
  And I think that's what really galvanized the Bitcoin community
• 57:24
  to really get behind President Trump and RFK Junior.
• 57:28
  So it kind of backfired. You can make an argument that it
• 57:30
  backfired and I know they try to walk it back at the end when
• 57:33
  they said, you know, Kamala for crypto and all that stuff, but
• 57:36
  you know, it was already done, right?
• 57:38
  And I think I think the repeal of of of the when when President
• 57:42
  Biden vetoed the SAB 121 repeal, that really didn't help either,
• 57:48
  right. So anyways guys, so quick update
• 57:51
  regarding the Samurai wallet case if.
• 57:55
  You don't mind? Yeah.
• 57:57
  Absolutely. Some, I guess I wouldn't call it
• 58:01
  breaking news, but something an update on this.
• 58:03
  So I had AI did a 45 minute in person interview yesterday
• 58:06
  evening with Zach Shapiro, who is the lawyer who's been running
• 58:10
  the P to P rights fund, who's been raising the money to help
• 58:13
  the legal defense for the Samurai team to to or to help
• 58:17
  the Samurai team pay for their legal defense.
• 58:19
  I should say Zach is incredibly, incredibly, incredibly well
• 58:22
  versed on this topic. For those of them who know
• 58:24
  Zach's head of policy at BPI, he's also a graduate from Yale
• 58:29
  Law School. He's an absolutely brilliant
• 58:31
  human being. I've spent some time with him
• 58:32
  and talked with him and we're just incredibly lucky to have
• 58:34
  him in the Bitcoin space. But that interview will likely
• 58:37
  be dropping within the next few hours.
• 58:39
  I can't say for sure, but it was completed last tonight.
• 58:42
  It's with our editing team now and we go in depth on what's
• 58:46
  currently happening, what the next potential steps forward are
• 58:49
  and what the ramifications of this will be.
• 58:53
  Really, really important stuff. And we are.
• 58:55
  We're very, very, very, very I think it's very good that this
• 58:59
  information came to light about the prosecution essentially
• 59:03
  ignoring what FinCEN told them FinCEN telling them you can you
• 59:07
  should not be going after people who are building non custodial
• 59:10
  software. They're not actually touching
• 59:12
  funds just doesn't fall under FinCEN.
• 59:14
  The fact that this has now come to light, it also, I think only
• 59:18
  adds to this idea that if we were under a different
• 59:22
  administration of Harris had won, I don't think this would
• 59:25
  have come to light, I think. And and so you could feel the
• 59:28
  way you feel about different political candidates.
• 59:29
  But on this specific issue, this is something really, really
• 59:32
  important because had this not come out, it's called
• 59:35
  exculpatory evidence. So it's essentially evidence
• 59:37
  that makes the the defendants where it would contribute to
• 59:41
  their being innocent. And this was getting suppressed.
• 59:43
  You cannot do that. So this is a really, really,
• 59:46
  really huge thing. I think people throw the word
• 59:48
  around bombshell and all this kind of stuff over.
• 59:51
  You know, we see this on Twitter a lot, but this really is a
• 59:53
  bombshell. The fact that this was
• 59:55
  happening, not only is it kind of insane, you know, in terms of
• 1:00:00
  the Bitcoin open source developer world, but also the
• 1:00:02
  Southern District of New York. They really do pride themselves
• 1:00:05
  on being very legitimate, very buttoned up.
• 1:00:08
  And this is a stain on the SDNY. So just wanted to make sure I
• 1:00:11
  sort of contextualize that a bit.
• 1:00:12
  I'm sorry to to cut you off there or to jump in.
• 1:00:15
  No, I appreciate for you for I appreciate you, Frank, for
• 1:00:17
  adding the the context. And This is why I started off
• 1:00:21
  this segment with elections have consequences, something that I
• 1:00:24
  think Bitcoiners really, we got so much crap for this when Opti
• 1:00:32
  and I essentially decided to endorse candidates because
• 1:00:36
  before I think Bitcoiners were inherently neutral.
• 1:00:39
  And shout out, of course, to you guys over at at at the bag.
• 1:00:42
  You guys did an incredible job. David Bailey really getting the
• 1:00:46
  president, both the candidates, RFK junior and President Trump
• 1:00:50
  at the Nashville conference, Nashville 2024.
• 1:00:54
  So yes, but I don't think that would have happened if it wasn't
• 1:00:57
  for the attacks, the the blatant attacks by the previous
• 1:01:01
  administration to try to kneecap the administration and, and the
• 1:01:05
  stuff that's coming out with Operation Choke .2.
• 1:01:07
  I mean, Frank, let's talk about this because this is a smoking
• 1:01:11
  gun to another level. I'm going to I'm going to read
• 1:01:13
  some of this guys to provide a provide a little bit of context
• 1:01:17
  and then I'm going to pass it on to to Frank.
• 1:01:19
  And then I believe the interview you said it's going to be with
• 1:01:22
  Zach Shapiro. Is that correct?
• 1:01:23
  Yep. It's a one-on-one, literally we
• 1:01:26
  we did it up at the up right by right by where he lives.
• 1:01:30
  I, I, he texted me in the middle of the day and said this is
• 1:01:32
  bananas. We need to get the word out as
• 1:01:33
  soon as possible. We called if we called a film
• 1:01:35
  crew and we sat down last night, talked, had a good 45 minute
• 1:01:39
  conversation and went into depth on it.
• 1:01:41
  Zach is truly, he's a remark. He's an incredibly intelligent
• 1:01:45
  human being, but he's also very, very, very well versed on this.
• 1:01:47
  And he admits he even had to do a lot of research to, to fully
• 1:01:51
  grasp what was going on himself. And he really does share it in a
• 1:01:54
  way that's distilled very nicely, I think for to really,
• 1:01:56
  really bring people up to speed on the significance of this.
• 1:02:00
  Yeah, And and this is crazy. And we're we're going to, we're
• 1:02:02
  going to dive into essentially what happened.
• 1:02:04
  If you guys want more details, go check out the Bitcoin
• 1:02:06
  Magazine channel. Frank had an interview with Zach
• 1:02:08
  Shapiro and they break it down in in detail.
• 1:02:11
  We're we're going to do a light coverage of essentially this.
• 1:02:13
  But this guy's, this is like, this is a smoking gun.
• 1:02:15
  Like this is crazy. We we, me and Opti went from
• 1:02:20
  being on the fence. Opti kind of knew from the very
• 1:02:22
  beginning, but I was like giving the benefit of the doubt for a
• 1:02:25
  very, very long time until the samurai wallet guys got
• 1:02:29
  arrested. And I was like, you know what,
• 1:02:30
  this is on purpose. They're trying to attack our
• 1:02:32
  industry. They want a monopoly for a
• 1:02:34
  central bank, digital currency. This is extremely obvious.
• 1:02:38
  You know, this is the Elizabeth Warren camp.
• 1:02:40
  This is not cool. But again, I think it backfired
• 1:02:44
  in, in, in, in the election. So anyway, So what am I talking
• 1:02:47
  about? So Marty Bent says this is truly
• 1:02:50
  just saying these DOJ prosecutors should be the ones
• 1:02:53
  who end up in prison. That's very strong wording Zach
• 1:02:56
  Shapiro said. And Zach Shapiro I believe is
• 1:02:58
  the managing partner at rain SLLP he's a Bitcoin crypto
• 1:03:04
  lawyer head of policy at BTC policy org anyways, so it goes
• 1:03:10
  on to say just revealed Finsen explicitly told prosecutors
• 1:03:15
  Samurai wallet wasn't a money transmitter due to its non
• 1:03:19
  custodial design. DOJ prosecute prosecuted
• 1:03:23
  developers anyway, suppressing exculpatory evidence for over a
• 1:03:28
  year. That is insanity.
• 1:03:32
  That is crazy, that is, that is nuts.
• 1:03:36
  And then if you tie that up with if you tie that up with what you
• 1:03:40
  were you were talking about earlier, Frank, where the Biden
• 1:03:43
  administration potentially might have been selling Bitcoin before
• 1:03:47
  the Trump administration was going in.
• 1:03:50
  Like, guys, look, listen, this isn't about left or right or
• 1:03:53
  Democrat or Republican. This is we, we kept making this
• 1:03:56
  argument for you guys late last year and we got so much heat.
• 1:04:00
  I said, listen, you have two choices here.
• 1:04:01
  It's a two party system. It's a reality.
• 1:04:04
  RFK would have been great, but the reality is as an independent
• 1:04:07
  candidate, he he didn't have a really a chance at winning.
• 1:04:09
  So you had a pro Bitcoin candidate, anti CBDC candidate
• 1:04:14
  and you had a pro CBDC candidate, pro anti Bitcoin
• 1:04:18
  candidate. Those are your two choices.
• 1:04:20
  We laid it out for you guys, right?
• 1:04:22
  And regardless of the other politics, which we don't talk
• 1:04:26
  about on this show, as Bitcoiners, we obviously want
• 1:04:30
  what's best for the industry here in the United States.
• 1:04:33
  And I think we made the right choice.
• 1:04:34
  And as I I showed you guys on screen, elections have
• 1:04:37
  consequences. Ross is free because Trump won.
• 1:04:42
  Ross would not be free if Trump didn't win.
• 1:04:45
  Operation Choke .2 Point O would still be in full force if Trump
• 1:04:50
  didn't win. We probably wouldn't be on
• 1:04:52
  YouTube if Trump didn't win, right?
• 1:04:54
  Like it, we'd probably be on Rumble right?
• 1:04:57
  And I love Rumble, by the way, but like it was it was pretty
• 1:05:01
  bad. Like we were forced essentially
• 1:05:03
  as an entire industry. We were forced into a corner to
• 1:05:06
  essentially fight back. And Frank, as you know, if
• 1:05:09
  you're not in the room, you're not in the deal in DC Bitcoiners
• 1:05:13
  are now in the room in Washington, DC.
• 1:05:16
  That is incredibly important for our industry.
• 1:05:19
  Frank thoughts? I think you're 100% right on
• 1:05:23
  everything you just said. Again, I, I historically, I'm
• 1:05:27
  not a sort of very, very political person, at least not
• 1:05:30
  super, super outspoken about it. But with this particular
• 1:05:34
  election, I was paying very, very close attention to the
• 1:05:36
  issues. Bitcoin is something that, so
• 1:05:38
  let me actually just something I wanted to share.
• 1:05:40
  I think this is a good place to do it.
• 1:05:42
  So Bitcoin is something that I think is not only important in
• 1:05:45
  the US, but it's very important for the United States to get
• 1:05:48
  Bitcoin right. Because I learned this from
• 1:05:51
  interviewing a lot of people from around the world.
• 1:05:53
  I used to have a podcast where I predominantly spoke with people
• 1:05:56
  from Africa, Latin America, Southeast Asia, and a lot of
• 1:05:59
  people were watching from from these regions, from
• 1:06:02
  jurisdictions within these regions saying we really hope
• 1:06:05
  the US gets this right because the majority of the legislation
• 1:06:08
  that you guys put out there is just going to be copied and
• 1:06:10
  pasted here. So what's going on is we're
• 1:06:12
  setting a trend, hopefully a positive trend for Domino's to
• 1:06:16
  fall globally for people to create the proper regulation
• 1:06:19
  around these assets and you know for thing And then beyond the
• 1:06:23
  proper regulation, well, this is included in it to for things
• 1:06:27
  like self custody to be a part of that.
• 1:06:28
  Now for things like it be it being OK for crypto mixers to
• 1:06:32
  exist and for anonymity to be preserved, it's really, really
• 1:06:36
  important that people do this. And and also to add to what
• 1:06:38
  you're saying, I don't think this means that we all just need
• 1:06:41
  to become Trump cheerleaders. We need to pay attention to
• 1:06:43
  Democrats. I'm sorry to politicians on both
• 1:06:46
  sides of the aisle, the Ro Kanas of the world.
• 1:06:48
  I'm sorry, I'm space Kirsten Gillibrand, who I'm not sure
• 1:06:52
  what happened with the bill. So her and Senator Lummis put
• 1:06:55
  together a bipartisan bill that they've I think they introduced
• 1:06:58
  to the Senate, I think it was a year and a half ago that would
• 1:07:00
  actually allow for a de minimis tax exemption.
• 1:07:02
  I think you'd be able to make Bitcoin transactions.
• 1:07:04
  Anything under $200 wouldn't be subject to capital gains tax.
• 1:07:08
  So I don't think the idea here is just we just go full on Trump
• 1:07:12
  is going to save us sort of thing.
• 1:07:13
  It's the pressure politicians on both sides of the aisle or it's
• 1:07:16
  not the pressure them, but to say to them, this is really
• 1:07:19
  important to us. You should get on.
• 1:07:21
  This is where we're going. This is the future and you need
• 1:07:24
  to be paying attention to it. And from the state level to the
• 1:07:28
  to the federal level, people should be involved.
• 1:07:30
  We should be letting politicians should be hearing our voices.
• 1:07:33
  When I speak with people at the Bitcoin Policy Institute,
• 1:07:36
  someone like David Zell recently told me from now, the second he
• 1:07:39
  wakes up in the morning to the second he goes to bed, he just
• 1:07:42
  has legislature, legislators, politicians, people reaching out
• 1:07:45
  to him saying I need more information.
• 1:07:47
  Please keep educating me. Please keep educating me.
• 1:07:49
  That only happened because our voices were heard.
• 1:07:52
  That in part happened also because Trump was elected and
• 1:07:55
  now it's OK to talk about this stuff.
• 1:07:56
  It's no longer taboo. Bitcoin is more just looked at
• 1:07:59
  as like a macro asset by the Trump administration.
• 1:08:02
  This stuff needed to happen. You might not like the existing
• 1:08:06
  system, but the existing system effects them.
• 1:08:09
  It affects everybody's psychology.
• 1:08:11
  This is sort of part of the transition.
• 1:08:13
  It's a necessary part of the process and it's a really
• 1:08:15
  important part of the process. Absolutely I 100% agree with
• 1:08:19
  Frank and it's again shout out to Frank for amazing coverage of
• 1:08:23
  of you know historical times ladies and gentlemen, this is
• 1:08:26
  this is some crazy times to to live through.
• 1:08:29
  I do want to give a shout out to the live stream 2800 people
• 1:08:32
  watching live between YouTube and X and roughly 1000 of you
• 1:08:35
  guys watching live on rumble. If you guys are enjoying the
• 1:08:38
  live stream so far, make sure to smash that like button really
• 1:08:41
  really helps with the algos. We blew past our goal of 250
• 1:08:44
  likes. Help us break 300 likes by the
• 1:08:46
  time the show ends. Anyways, Opti, what are your two
• 1:08:49
  Sats before we move on to the culture segment?
• 1:08:51
  And we talked to Frank about his historic interview at the White
• 1:08:55
  House with Howard Lutnick. Yeah, yeah.
• 1:08:57
  I'll keep it short because I really want to talk to Frank,
• 1:09:00
  but I think in hindsight, this is this is one of the things
• 1:09:03
  that Bitcoiners were saying in regards to the Samurai wallet in
• 1:09:06
  the 1st place. The fact that, you know, they
• 1:09:09
  aren't custodying this coin and like, what is going on?
• 1:09:12
  What what, Like, what is their reasoning here?
• 1:09:15
  And a lot of bitcoiners were making the case that this was
• 1:09:17
  just clear weaponization of the DOJ.
• 1:09:20
  And in hindsight, it turns out that that's exactly what was
• 1:09:23
  going on. And now, you know, we do have
• 1:09:26
  this bombshell here. So, you know, on that note, I
• 1:09:29
  really hope that the samurai wallet guys are freed because
• 1:09:33
  now it seems very clearly that this was, you know, an attack
• 1:09:36
  and it was basically a pointed attack.
• 1:09:38
  And they're like, yeah, we we really don't care what the
• 1:09:40
  technicalities of this are. We want to make an example.
• 1:09:44
  And is this any different? Should we really be surprised?
• 1:09:46
  Like, I don't think so. We saw this literally happened
• 1:09:48
  with the current president. So like, you know, I are we
• 1:09:51
  surprised? We shouldn't be, but it is kind
• 1:09:55
  of insane that this is happening in the Bitcoin industry
• 1:09:58
  directly. And it just goes to show that
• 1:10:00
  they don't want you to. You have any privacy out here.
• 1:10:03
  And This is why they try to make an example of not only just a
• 1:10:06
  Tornado Cash guys, but the Samurai Wallet guys.
• 1:10:09
  So I think this is a huge news story and I and I can't wait to
• 1:10:12
  see the Samurai wallet guys get out of jail and walk free.
• 1:10:15
  Absolutely. All right, everybody.
• 1:10:16
  We're going to talk to Frank Korva again, political
• 1:10:19
  correspondent for Bitcoin Magazine and at the White House
• 1:10:22
  making all these awesome interviews.
• 1:10:24
  We're going to be talking about all that during the culture
• 1:10:27
  segment. We will be right back.
• 1:10:28
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  All right, we are back and of course you guys are tuning into
• 1:12:35
  Simply Bitcoin Live and we got Frank Korva in the house and my
• 1:12:39
  legendary Co host Optimus Fields, who's nihilistic today.
• 1:12:43
  I don't know why. I don't know what's happening
• 1:12:44
  with. The bro the gyms got me beat up.
• 1:12:46
  Bro, I'm worn out. I'm out, bro.
• 1:12:49
  You gotta, you gotta Sal, you gotta, you gotta take it easy on
• 1:12:51
  Opti, bro. He's gotta, he's gotta, he's
• 1:12:53
  gotta come into the show with energy, man.
• 1:12:56
  Worn out anyways. Anyways, let's let's talk with
• 1:12:58
  Frank. So, Frank, I think our audience
• 1:13:01
  probably knows what you're doing, but for people that
• 1:13:03
  aren't really familiar with your work, we have played these clips
• 1:13:06
  here on the show. You know, you just did an epic
• 1:13:09
  interview with Commerce Secretary Howard Leutnik and or
• 1:13:12
  wait, I think you followed up the Bohind interview with the
• 1:13:15
  Howard Leutnik interview. But you're you're at the White
• 1:13:18
  House talking to these politicians.
• 1:13:21
  So I think it'd be very interesting to just start this
• 1:13:24
  conversation with like, what's it like being what you said, you
• 1:13:27
  know, a Blogger, a Bitcoin Blogger now being in the White
• 1:13:31
  House, maybe you can drop some some secret sauce in here on
• 1:13:34
  what that is actually like and maybe some things that the
• 1:13:38
  people don't really think about because, you know, our audience
• 1:13:41
  is pretty toxic. They're pretty savage here.
• 1:13:43
  So, you know, what's it like being in these conversations and
• 1:13:46
  doing these interviews? I appreciate the question.
• 1:13:50
  Thank you. I don't mind the audience being
• 1:13:52
  savage or toxic. I would just I'll try to offer
• 1:13:55
  some realistic perspective here. So I'll take the Howard Lutnick
• 1:13:58
  interview, for example. In that interview, some people
• 1:14:01
  critiqued me for not pushing back on him when he said Bitcoin
• 1:14:04
  is not money, it's a commodity. For the record, I personally
• 1:14:07
  believe that Bitcoin is money that's based on, I mean, well,
• 1:14:10
  it's based on a lot, but I'll just start with the white paper
• 1:14:13
  peer-to-peer electronic cash. I also think that Bitcoin has to
• 1:14:17
  be essentially has to be the store of value, medium of
• 1:14:22
  exchange. I think that's a false dichotomy
• 1:14:24
  to quote the Roy Scheinfeld from Breeze.
• 1:14:27
  I think it need for Bitcoin to succeed long term, especially as
• 1:14:30
  the block subsidy decreases, we're going to need for it to be
• 1:14:33
  used. We're going to need for the
• 1:14:34
  blocks to be filled. So I'm going to stop there with
• 1:14:37
  that. But what what happens there is
• 1:14:38
  that I can't essentially get into a fight when I have 20
• 1:14:42
  minute, 20 minutes with Howard Leutnick on camera about, no,
• 1:14:45
  Bitcoin's not just a commodity, it's money.
• 1:14:47
  Me as well. You can't do that.
• 1:14:48
  You're not going to be invited back.
• 1:14:49
  I want this conversation to continue.
• 1:14:51
  Also, I did have a tougher question for him.
• 1:14:53
  And if you watch the interview when I asked it, you know, you
• 1:14:57
  could see his reaction. I spoke with him about the
• 1:14:59
  dangers. You know, he spoke about Bitcoin
• 1:15:01
  mining coming to the US, which is great.
• 1:15:03
  And I hope that Bitcoin mining does come to the USI hope
• 1:15:05
  Bitcoin mining increases globally.
• 1:15:07
  But if you want to run a section of it, that's OK.
• 1:15:11
  Yeah. Here, I'll play it.
• 1:15:13
  Well, I don't know if this is the exact quote, but we'll,
• 1:15:17
  we'll play. It if you want to mine Bitcoin
• 1:15:20
  and you find the right place to do it you can build your own
• 1:15:23
  power plant next to it. I mean, think about that for
• 1:15:26
  say, you don't have to necessarily be on the grid,
• 1:15:29
  right? So, and, and you're going to see
• 1:15:31
  this happen, which is miners are going to put their data centers
• 1:15:36
  on top of gas fields, right? And then put a plant right next
• 1:15:43
  to them so that they won't be beholden to the drawing power.
• 1:15:48
  And listening to all the stories about all you're taking too much
• 1:15:51
  power. And now the cost of operating my
• 1:15:53
  refrigerator is higher and all the things we have to deal with.
• 1:15:56
  Now, what you'll see is the next generation of minors in America
• 1:16:01
  will be able to control their destiny, control the cost of
• 1:16:04
  power. And I think that is going to
• 1:16:06
  turbocharge Bitcoin mining in America.
• 1:16:09
  And so the ideas for the investment Accelerator to help
• 1:16:13
  people as an example who have those kind of ideas, how do they
• 1:16:16
  get those permits, How do you execute on that plan?
• 1:16:19
  You call the Investment Accelerator and we help you.
• 1:16:22
  Execute it. Amazing.
• 1:16:24
  Does that also would that incentivize people looking for
• 1:16:26
  maybe cheap renewable resources and which would also help the
• 1:16:29
  Bitcoin narrative of like people using maybe more hydroelectric
• 1:16:32
  power or as you referred to, maybe using flared gas to maybe
• 1:16:37
  capitalize it on that more methane emissions from dumps?
• 1:16:40
  Exactly, exactly. So hydro for sure, right.
• 1:16:43
  All these, you know, this allows because the people who are in
• 1:16:47
  the Bitcoin community, they are incredibly entrepreneurial.
• 1:16:51
  I mean, that's why they're there in the 1st place, right?
• 1:16:52
  This is, this is sort of the really the, the crux of of
• 1:16:57
  entrepreneurial spirit. And, and so they'll go figure
• 1:16:59
  out because these aren't sharp people and they'll go figure
• 1:17:03
  out, OK, let's go harness America.
• 1:17:05
  Let's do this in America. America wants us to to mine in
• 1:17:10
  America. Let's go figure out how to do
• 1:17:12
  it. Hydro will be great flaring.
• 1:17:14
  You know, you'll have all sorts of ways to create cheap power.
• 1:17:18
  And that cheap power will be off the grid and they'll be mining
• 1:17:21
  it, right. And I think this is going to
• 1:17:23
  create a boom, a boom in Bitcoin mining in America.
• 1:17:28
  Fuck yeah man. Well dude, incredible job Frank
• 1:17:31
  and Opti just put it on mute and just keep keep it on loop to it
• 1:17:35
  so. I was going to say one about
• 1:17:40
  that, like 1, you know, people, I got plenty of people poking me
• 1:17:43
  because I didn't push back when he talked about whenever Bitcoin
• 1:17:46
  is money. But he did say all that, right?
• 1:17:48
  That's really really kind of interesting stuff, talking about
• 1:17:50
  people building their own power plants, right?
• 1:17:52
  Super cool. Like this is really progressive
• 1:17:54
  stuff. It's what we see companies like
• 1:17:56
  Gridless doing in Africa, and he's incentivizing this in the
• 1:18:00
  state. So, you know, it's essentially
• 1:18:01
  saying like Bitcoiners are going to be the buyers of first
• 1:18:05
  resort, you know, basically they're going to be creating
• 1:18:07
  their own energy to mine Bitcoin.
• 1:18:09
  You know, the American spirit is very entrepreneurial.
• 1:18:12
  So he's he's saying that this is something that we support.
• 1:18:15
  That's a really good thing. The other side to this and what
• 1:18:17
  I was getting at by saying I didn't push back on the one
• 1:18:20
  thing he said that some people didn't like, but I also brought
• 1:18:22
  up this idea, something that I've discussed with Troy Cross,
• 1:18:25
  something that I've spoken with the Bitcoin Policy Institute
• 1:18:28
  about is that it can be dangerous for too much of the
• 1:18:30
  hash rate to come to America. And so I asked him, I said, you
• 1:18:33
  know, is there potential to maybe see, you know, block
• 1:18:36
  censorship or something if too much of the hash rate comes
• 1:18:39
  here? He said no, but it was, you
• 1:18:41
  know, sitting in the seat across from him, and it was a tough
• 1:18:43
  question to ask. He seemed a bit startled by
• 1:18:45
  that, not because I sprung it on him or anything like that, but
• 1:18:48
  it was a tougher question. I wasn't just there to sort of
• 1:18:50
  be his PR Rep. I was there to ask him a
• 1:18:52
  question that I think a lot of people in the community care
• 1:18:55
  about, which is keeping Bitcoin censorship resistant.
• 1:18:58
  I'm just saying to people. And Nico, you and I were talking
• 1:19:00
  about this off camera earlier. It's not easy to sit in that
• 1:19:04
  seat and to have conversations with people who are in power
• 1:19:07
  like that. And there has to be some level
• 1:19:09
  of strategy. And also for good reason, They
• 1:19:12
  should have the freedom to sort of touch on all of the successes
• 1:19:15
  that they've had to take a victory lap, especially after
• 1:19:18
  the Biden administration did what it did.
• 1:19:19
  They have absolutely the right to take that victory lap.
• 1:19:22
  And then some of the interview does have to be geared towards
• 1:19:25
  having a tougher part of the conversation moving forward,
• 1:19:27
  what potential issues are. And that was sort of what I
• 1:19:30
  chose to focus on in this one. It wasn't have a conversation or
• 1:19:33
  a fight about whether Bitcoin is a commodity or money.
• 1:19:36
  Everybody is entitled to think about it the way that they want
• 1:19:38
  to. But there is this real issue of
• 1:19:41
  potential censorship if there's too much of the hash rate in the
• 1:19:43
  States. And this is something that we
• 1:19:44
  have to hold people in power accountable to.
• 1:19:46
  And that was sort of, I guess the, that was the, that, that
• 1:19:49
  was the tough question I had lined up for him.
• 1:19:51
  And he gave a legitimate answer as far as I'm concerned.
• 1:19:54
  Absolutely. I think this people like, you
• 1:19:58
  know, is again. People don't understand you go
• 1:20:02
  in there with, you know, I, I was super naive.
• 1:20:07
  I go in there with like, you know, like and the Fed and stuff
• 1:20:10
  like that. But when, when you, when you
• 1:20:13
  enter those types of high level interviews with, you know, these
• 1:20:17
  high level politicians, you, there's a frame and you have to
• 1:20:24
  ask within the frame, right? And it's not something that is
• 1:20:28
  said beforehand. It's not something that they
• 1:20:31
  tell you, they, they don't confine you whatsoever.
• 1:20:34
  But you sense it, you feel it, you feel it, you feel what is
• 1:20:38
  appropriate to ask and what is not appropriate to ask.
• 1:20:42
  And it's something that essentially you can, you know,
• 1:20:44
  you can plan in your head as much as you long as much as you
• 1:20:48
  want and you can prepare. But it's only until you're
• 1:20:51
  thrown into the pit of fire that you realize, you know, the, the,
• 1:20:55
  the caliber of conversation that you're having, right?
• 1:20:58
  So I've only really experienced that once in DC with my
• 1:21:01
  interview with, with, with, with, with, with the Senator,
• 1:21:07
  with, with the senator. But yes, it is, it's something
• 1:21:12
  that you have to experience, you know, to, to, to, to really feel
• 1:21:16
  what, what we're talking about, right?
• 1:21:18
  So, you know, the fact that you were able to ask a hard
• 1:21:21
  question, I think is incredibly important.
• 1:21:24
  But at the same time, you know, it's, it's, you do want access,
• 1:21:27
  right? You do want the capability of
• 1:21:29
  having these interviews and having these conversations right
• 1:21:32
  at the end of the day. 100% and I think the other side to it is
• 1:21:36
  just like, you know, also focusing on some of the good
• 1:21:38
  stuff that's happening. I think it's a good thing that
• 1:21:40
  we're going to have now basically an accelerator that's
• 1:21:43
  going to be helping Bitcoin mining companies to to operate
• 1:21:46
  in the United States, Especially in light of the fact that many
• 1:21:48
  of the heads of these companies have talked about, you know,
• 1:21:51
  wondering whether or not they'd be prosecuted because of what
• 1:21:54
  they were doing or be out of business.
• 1:21:55
  If the, if, you know, Harris was sort of extended, what the sort
• 1:22:00
  of crackdown on things that the the Biden administration had
• 1:22:02
  started. So there's really, there's a lot
• 1:22:04
  of stuff to be excited about. I have my concerns as well.
• 1:22:10
  I, I don't want to just see Bitcoin become a commodity and
• 1:22:13
  for it to, you know, just be another asset within the
• 1:22:16
  traditional financial system. That's not where I'm coming
• 1:22:19
  from. At the same time, when you're
• 1:22:20
  speaking with people who work for the federal government,
• 1:22:24
  they're not claiming to be like Bitcoin enthusiasts.
• 1:22:27
  They're claiming to say it's OK that Bitcoin finds a home in
• 1:22:29
  America, but their job is not to facilitate Bitcoin
• 1:22:33
  proliferation. You have to sort of recognize
• 1:22:36
  that when you have these conversations and it's not, I
• 1:22:38
  don't even wrong them for that. It's just that's that's what
• 1:22:42
  they're defending. What I love to see the
• 1:22:44
  government, you know, one day make Bitcoin legal tender.
• 1:22:47
  Absolutely. That's part of our mission at
• 1:22:49
  Big BTC Inc, which includes Bitcoin Magazine, the conference
• 1:22:52
  and all of that kind of stuff. Hyper bitcoinization, right?
• 1:22:55
  We want to see that happen. At the same time, I think there
• 1:22:59
  are other people in government who too think that some of them
• 1:23:02
  want to see that happen or maybe even think that's coming at some
• 1:23:05
  point. But some of the thing, these
• 1:23:08
  things need to play out at a certain rate.
• 1:23:10
  At the same time, we have to be vigilant.
• 1:23:12
  We have to sort of push back when we don't like certain
• 1:23:14
  things, but also being strategic, just going into these
• 1:23:17
  things with the strategy and also acknowledging that you're
• 1:23:20
  sitting across from another human being, that if you attack
• 1:23:23
  them, they're, you know, human psychology is like, well, why
• 1:23:25
  would I want to sit down with this person again and continue?
• 1:23:28
  You need the conversation. That's a real thing.
• 1:23:30
  You know, Twitter is not the real world.
• 1:23:31
  We can't just hurl insults with people, especially when they're
• 1:23:33
  people making major decisions for our country.
• 1:23:36
  It's just not the way things work, whether we like that or we
• 1:23:38
  don't. Yeah, and.
• 1:23:40
  It really reminds me of what Nico he says we have like a
• 1:23:43
  running joke in the chat about shifting the Overton window.
• 1:23:45
  But the best way to shift the Overton window is literally
• 1:23:48
  being in the room and having these conversations.
• 1:23:50
  And this is what you guys are doing and you just love to see
• 1:23:52
  it. And actually it does kind of go
• 1:23:54
  into one of my other points that we were chatting about before
• 1:23:57
  the show. There is kind of a growing trend
• 1:24:00
  among amongst bit corners right now with this idea of like,
• 1:24:03
  let's just burn it all to the ground.
• 1:24:05
  Like this is the best way to go about it.
• 1:24:07
  Like F politics, you know, let's just just get it all over with.
• 1:24:11
  And we were chatting about it's like, that's really just not a
• 1:24:13
  realistic view of how this is going to happen and how this is
• 1:24:17
  going to fundamentally change the world.
• 1:24:20
  So, you know, maybe give some, some sober takes on this idea of
• 1:24:24
  like, it's probably better if this thing happened slowly.
• 1:24:26
  It's it might not be as as exciting in terms of Bitcoin
• 1:24:30
  price adoption, but this is probably the best way to get
• 1:24:33
  everyone on the safety boat. This is the way I feel about it.
• 1:24:36
  100% yes. Do I love to see Bitcoins price
• 1:24:39
  sky I rocket? Is my mood better on those days?
• 1:24:41
  Sure, I'm a human being. I like to see that as well.
• 1:24:44
  I like to have more purchasing power, more wealth, whatever.
• 1:24:47
  All that stuff is great. At the same time, I didn't get
• 1:24:50
  into this to widen the the the economic disparity gap, the the
• 1:24:55
  gap between the sort of very like old way of saying would be
• 1:25:00
  the haves and have nots. But you know, and I've done
• 1:25:02
  work. I've been to Africa for this.
• 1:25:04
  I used to live in Africa. I've lived in, I lived in
• 1:25:06
  Venezuela under Chavez, so I've seen parts of the world where
• 1:25:11
  Bitcoin would surely be beneficial to people, but many
• 1:25:14
  people in these parts of the world have not found it yet.
• 1:25:16
  They're finding it thanks to institutions like Bitcoin Dada
• 1:25:20
  that teaches African women how to use Bitcoin and amazing
• 1:25:23
  people doing work with like the MI premier Bitcoin curriculum
• 1:25:26
  around the world or products like Matcha Encora, which allows
• 1:25:28
  people to send Bitcoin over Nokia phones.
• 1:25:31
  Like, I don't know, the tech feature phones like dumb phones,
• 1:25:34
  pre smartphones. So there's a lot of cool
• 1:25:37
  technology being developed. I'm I'd be happier to see this
• 1:25:41
  stuff play out sort of smoothly. I would love to see sort of like
• 1:25:45
  a slow up and to the right in terms of value, Bitcoins value,
• 1:25:50
  how can I say increasing because I think one, it would also be
• 1:25:53
  safer because for the people in the circular economies who are
• 1:25:56
  taking their salary in Bitcoin, we don't want to keep seeing 80%
• 1:25:59
  crashes in the price or 6070% crashes in the price.
• 1:26:03
  So ideally I would love to see it almost do a little bit of
• 1:26:06
  what gold did when the gold ETFs were issued, sort of it went on
• 1:26:09
  like a 10/12/13 year bull run essentially.
• 1:26:12
  I'm not saying that's the exact same thing and I'm not purposely
• 1:26:15
  trying to make the analogy to Bitcoin as digital gold.
• 1:26:18
  I'm just sort of saying I think slow and steady is the way to do
• 1:26:20
  this and I think we should celebrate wins like the de
• 1:26:23
  minimis tax exemption. We in Rhode Island, there was
• 1:26:25
  another bill at the at the state level where someone introduced a
• 1:26:28
  bill, I think allowing you to spend up to 10,000 a month in
• 1:26:32
  Bitcoin without having to pay state capital gains taxes on
• 1:26:35
  this kind of stuff. I would like to just see slow
• 1:26:37
  and you know, a lot of different wins happening all over the
• 1:26:40
  United States, some other countries, other jurisdictions
• 1:26:43
  around the world watching this, emulating it, even leading in
• 1:26:46
  their own way the way El Salvador has done.
• 1:26:49
  But I really think slow and steady is the name of the game.
• 1:26:51
  It might not be as exciting as just watching Bitcoin, whatever
• 1:26:55
  RIP from whatever it's trading at today, $94,000 to $250,000.
• 1:27:01
  But I'm also like my receptors in my brain are burnt out from,
• 1:27:04
  you know, having been in this for seven or eight years.
• 1:27:06
  I don't need the I don't need the stimulation from the price
• 1:27:09
  ripping anymore. Like I barely sleep as it is.
• 1:27:11
  So I'm OK with slow and steady at this point.
• 1:27:13
  That's just sort of my take on it.
• 1:27:15
  But I think mostly for the safety of especially the newbies
• 1:27:18
  who are involved, we don't want to see people buying in at the
• 1:27:20
  top, watching it crash, selling at the bottom.
• 1:27:23
  You know, the people like check Matey James from Check on chain
• 1:27:27
  constantly show that this is the case in the data.
• 1:27:29
  While we would like to see people just buying and hold, I
• 1:27:31
  think it's easier for that to happen if this happens in a slow
• 1:27:34
  and steady away versus these huge sort of abrupt up and down.
• 1:27:37
  So that's where I'm at with it. Again, maybe not super exciting,
• 1:27:41
  but you know, I guess I'm a I'm a semi boring dude.
• 1:27:45
  No man, you're absolutely crushing it.
• 1:27:48
  I do want to give a shout out of course to the live stream.
• 1:27:51
  Absolutely epic today. 3000 people watching live between
• 1:27:54
  YouTube and X shout out to the 1000 of you guys watching live
• 1:27:57
  on rumble guys, we are heading to the top of the hour.
• 1:28:00
  Do you want to give a shout out to all you guys smash the like
• 1:28:02
  button consider subscribing if you feel like we provided you
• 1:28:04
  value head over to the Bitcoin magazine channel and check out
• 1:28:08
  Frank's interviews. They've been absolutely awesome.
• 1:28:10
  I love the Howard Lutnick interview.
• 1:28:12
  I believed it broke 100,000 views, which is incredible on on
• 1:28:16
  YouTube and of course, my legendary Co host who's always
• 1:28:19
  optimistic, slightly nihilistic today Sal, you got to give up
• 1:28:22
  the a break Optimus Fields, of course in the Co host seat
• 1:28:26
  anyways guys I'm Nico and this is simply Bitcoin.
• 1:28:29
  Love you all. We'll see you guys.
• 1:28:31
  You're missing one thing. You're missing 1.
• 1:28:32
  Thing I am missing one thing holy shit I forgot and we guys I
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  want to give a shout out to. Our There we go.
• 1:28:40
  Oh my God. I'm exhausted.
• 1:28:43
  It's the lights. Thank you Opti.
• 1:28:46
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  Anything exciting about the conference that you can drop on
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  us on the live desk. No, I think that's quite
• 1:29:34
  exciting. We'll be, we'll be excited to
• 1:29:36
  have you there. That's it, everybody.
• 1:29:38
  TuneIn, in terms of the conference, I would just say
• 1:29:40
  this, I I was recently on Natalie's show to talk about
• 1:29:43
  this and it took me a while to come out of my shell when it
• 1:29:47
  came to like being more involved in the Bitcoin space.
• 1:29:49
  So if you're on the fence about going to the conference,
• 1:29:52
  consider going for it. I know that can be hard if
• 1:29:54
  you're new to Bitcoin and it's sort of like, do I want to spend
• 1:29:57
  money on this or buy some more sats?
• 1:29:58
  I get that I've been there. I still feel that way when I
• 1:30:01
  make a lot of bigger financial decisions.
• 1:30:03
  But if you're on the fence and you think you want to get more
• 1:30:05
  involved in Bitcoin, in the Bitcoin community, potentially
• 1:30:08
  get a job in this space, just something to consider.
• 1:30:10
  On top of that, all I could say is that this space becomes a
• 1:30:13
  very, very real, a different thing and and a more real thing
• 1:30:17
  when you experience it outside side of just YouTube videos, X
• 1:30:20
  videos or X Bitcoin Twitter, etcetera.
• 1:30:23
  It makes a big difference to sort of shake people's hands,
• 1:30:25
  introduce yourself to people, have conversations with people.
• 1:30:29
  So just consider joining us if you're on the fence about it.
• 1:30:31
  That's it, That's my spiel. Absolutely, guys.
• 1:30:34
  There's nothing like meat space Bitcoin conferences.
• 1:30:38
  No, I'm I'm dead serious. Not a joke.
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  You, you can't like as much as you hang out on X and on YouTube
• 1:30:44
  and you consume Bitcoin conference, there's consume
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  Bitcoin content. There's something very, very
• 1:30:48
  special about experiencing it in person, in the flesh, meeting
• 1:30:53
  some of your favorite speakers, seeing them live, it's
• 1:30:56
  incredibly special experience. I mean, seeing President Trump
• 1:31:00
  last year being in the crowd while he made his announcement
• 1:31:04
  was absolutely historic. Like that's the type of thing
• 1:31:07
  that you're going to tell, you know, your children, you know,
• 1:31:10
  10-15 years from now, right? So guys, definitely don't want
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  We'll have a booth, I think in the media section.
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• 1:31:33
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  Love you all and we'll see you tomorrow for another episode.
• 1:31:40
  Take everybody peace out. Peace everybody.
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