Latest / Simply Bitcoin / BREAKING: BlackRock ETF Now Holds 50,000 Bitcoin | EP 914

Transcript

BREAKING: BlackRock ETF Now Holds 50,000 Bitcoin | EP 914 · Simply Bitcoin

• 0:03
  It's. All going to zero against
• 0:06
  Bitcoin. It's going up forever.
• 0:16
  You're against Bitcoin. You're against freedom, yo.
• 0:20
  Welcome to another episode of Simply Bitcoin Live.
• 0:23
  We're your number one source for the PC Peaceful Bitcoin
• 0:25
  revolution. Cover breaking news culture.
• 0:27
  Matic Warfare will be your guide through the separation of money
• 0:31
  and state. Ladies and gentlemen, BlackRock
• 0:34
  now holds almost 50,000 Bitcoin, meaning roughly $2 billion worth
• 0:42
  of Bitcoin. This is like this is a complete
• 0:46
  change in tune. Not that long ago, circa 2017,
• 0:52
  Larry Fink was using the same wording that Jamie Dimon was
• 0:56
  using that to quote him, Bitcoin is an index of money laundering,
• 1:01
  right? What changed?
• 1:03
  What changed since then? And now, and this isn't just
• 1:06
  Larry Fink, we we've seen this pattern happen many, many times.
• 1:10
  We've also seen Michael Saylor, the Chad sailor.
• 1:13
  He tweeted out back in the early days that this Bitcoin thing was
• 1:17
  not going to work. And now he is like the leader of
• 1:20
  this movement on the public company level.
• 1:22
  So, you know, bitcoin's incentives stay winning.
• 1:25
  We did an episode last week where we covered it was a
• 1:29
  Reuters article actually that came out where it said that the
• 1:33
  Chinese people were fleeing the stock market and they were
• 1:37
  buying Bitcoin. Mind you, this is in one of the
• 1:39
  most totalitarian countries in the world.
• 1:41
  That is actually where it's actually illegal to buy to my to
• 1:45
  buy Bitcoin and to mine Bitcoin. But people still mine and they
• 1:49
  still buy Bitcoin. Why?
• 1:51
  Why are they doing this? Why are they doing this, Even
• 1:54
  with the risk of being potentially prosecuted,
• 1:57
  potentially jailed? Well, it's because of bitcoins
• 2:01
  incentives. And ladies and gentlemen, we are
• 2:03
  going to win because of its incentives.
• 2:07
  My money is on incentives. My money is not on coercion.
• 2:11
  I don't think coercion is going to be incentives.
• 2:14
  And a great example of this is a look at what happened every
• 2:18
  time, every time, you know, humanity goes through this, it
• 2:23
  through a tyrannical moment, right?
• 2:25
  Whether that's the Berlin Wall or whether, you know, I live in
• 2:28
  Miami, right? The Cubans are willing to risk
• 2:32
  their lives, get on a raft, and hope that they land in Florida
• 2:38
  for the search of freedom. They want freedom.
• 2:41
  The Berlin Wall, people were willing to risk their lives to,
• 2:44
  you know, with the risk of being potentially shot for the hope of
• 2:48
  freedom, right. So there's two examples of two
• 2:52
  systems where they try to coerce people into, you know, towing
• 2:56
  the party line, following the rules.
• 2:58
  And people are just like, no, I, I, I, I want freedom.
• 3:00
  And that's what Bitcoin embodies.
• 3:02
  That's what it represents. It represents freedom.
• 3:06
  And even BlackRock, even this institution that we all
• 3:09
  perceived it to be, you know, this evil institution, ESG and I
• 3:14
  always came from the school of thought because it's what it's
• 3:17
  done to my life. What it's done to the people
• 3:18
  around you is that BlackRock was never going to change Bitcoin.
• 3:22
  It was going to be Bitcoin that changed BlackRock.
• 3:25
  And that sentence, right? You don't change Bitcoin.
• 3:27
  Bitcoin changes. You apply that to everything,
• 3:30
  right? Apply that to the relationship
• 3:32
  between individuals and governments.
• 3:34
  Apply that to how these multinational corporations start
• 3:38
  to behave. Once you fix the base layer of
• 3:41
  society, I truly believe life gets better.
• 3:44
  The lives of people get better. The decisions that these
• 3:47
  companies start to make are better not necessarily because
• 3:50
  all of a sudden they start to care about other people, but
• 3:53
  because they're using a system with aligned with an aligned
• 3:56
  incentive structure model. Look at what happened to El
• 3:59
  Salvador. It is not a coincidence that
• 4:01
  Naimbu Kelly is the most popular president in the Americas and El
• 4:06
  Salvador was the first country to make Bitcoin legal.
• 4:10
  Tender aligned incentives, best best incentive structure model.
• 4:15
  This is why bitcoins going to win.
• 4:17
  This is why Bitcoin is freaking unstoppable.
• 4:19
  So if you haven't already done so, get on the train.
• 4:22
  Take self custody. This is going to be a crazy
• 4:26
  crazy ride anyways. No more delay.
• 4:27
  I do want my legendary Co host. He is kind of smiling today.
• 4:32
  I would give him if it was like a a rated out of 100.
• 4:35
  I would give it like an an 82. It was like a like caught in
• 4:39
  four. Ki don't know what opti's doing
• 4:42
  now I'm smiling. I'm just laughing at the chat
• 4:45
  fields. Is back, man.
• 4:46
  How you doing, bro? What poll did you drop?
• 4:50
  What poll did you drop? In the I don't know.
• 4:52
  I mean the price is. Published Are you feeling Okay
• 4:55
  I? Like it Semi bullish bull tarted
• 4:57
  AF or Bitcoin is dead and I think we're getting trolled in a
• 5:00
  little there cuz Bitcoin is never dead.
• 5:03
  But yeah man, God's good life is great.
• 5:05
  I'm happy to be here. It feels good.
• 5:07
  Another Monday in the books. But yeah man it's very
• 5:10
  interesting how bitcoins, incentives you know just just
• 5:13
  make people switch their whole narrative.
• 5:15
  I think last week we we didn't cover it but if I remember
• 5:19
  correctly I'm pretty sure last week BlackRock did like a
• 5:22
  webinar talking about Bitcoin to their whole customer base or at
• 5:26
  least maybe high net worth individuals.
• 5:28
  So it's very interesting now that we have these huge
• 5:31
  institute institutional asset managers starting to, you know
• 5:35
  tell their customers the beauty of Bitcoin.
• 5:38
  And and someone said in the chat like everyone welcome our new
• 5:42
  king, Larry Fink. I'm happy to be saving the same
• 5:46
  money. But yeah I think this is a very
• 5:49
  interesting time. For better or worse, the Finks
• 5:53
  of the world coming into Bitcoin do give us some sense of
• 5:55
  legitimacy. And I think when we go into the
• 5:59
  middle part of this year, we should be seeing some fireworks
• 6:02
  in regards to Bitcoin. Of course, the having's in
• 6:05
  April, so it's looking like the perfect storm is out there guys.
• 6:08
  It looking like we might be, you know, it might be smarter than
• 6:11
  we look. Anyways, let's bring in our
• 6:12
  guest shouts out to Justin. He's working on the Shock Net
• 6:16
  wallet, Bitcoin, Lightning and Noster integration.
• 6:20
  So this is going to be super cool.
• 6:21
  I think you guys are going to enjoy this one.
• 6:23
  How you doing this one? And Justin?
• 6:24
  Awesome pleasure to be with you guys.
• 6:26
  Let's go, let's go. Actually, before we move on,
• 6:30
  what is Shock Wallet? What?
• 6:31
  What are you working on, Justin? And then we'll go into the deep
• 6:34
  dive during the culture. So yeah, Shock wallet right now.
• 6:37
  I've been building and Lightning a long time.
• 6:39
  We run lightning dot video content monetization platform.
• 6:43
  But I've been really dissatisfied with the state of
• 6:45
  Lightning waltz. They have been building and
• 6:47
  Lightning since 2018. They really haven't gotten
• 6:49
  better. I think they've actually gone
• 6:51
  gotten a little worse as people try to put nodes on phones and
• 6:54
  things that don't really scale. Yeah, but we got this solution I
• 6:58
  think now in Boster that allows you know the Uncle Jim and your
• 7:01
  family to set up a node, let friends, family, businesses,
• 7:05
  apps on the web connect to their node without like all this hard
• 7:08
  networking stuff. So I really think that the next
• 7:11
  iteration of Lightning is more this truly peer-to-peer type
• 7:15
  thing, but not at the individual level, at the family, you know,
• 7:18
  an app level and it can help us scale Bitcoin.
• 7:21
  Not that Bitcoin scales to everybody, but you know, we can
• 7:24
  start reusing transactions and stuff like that and really get
• 7:27
  the velocity of Bitcoin moving in the economy. 100% and I do
• 7:31
  wanna that's a topic that I wanna focus on today.
• 7:34
  Right. Which is this idea of ladies and
• 7:36
  gentlemen when we hit a hunt when we hit it's this is
• 7:39
  inevitable in my opinion. Maybe I'm a little bit biased
• 7:42
  but when we hit these crazy you know prices of you know half a
• 7:46
  million dollar, million dollar Bitcoin, the fees are gonna
• 7:50
  start to to put it nicely they're gonna start to out price
• 7:57
  people. You know it's it's gonna start
• 7:59
  to not make sense to send transactions that are under a
• 8:03
  certain threshold just because of the just how much you're
• 8:06
  paying in fees, right. So we we desperately need to
• 8:11
  come up with these second layer solutions in order for Bitcoin
• 8:16
  to scale and become this global money.
• 8:18
  Of course we have lightning, we have fediments, we have the
• 8:21
  liquid liquid. So there's there's definite
• 8:24
  there's a bunch of solutions. But I'll tell you this guys from
• 8:26
  experience, we are not there yet.
• 8:28
  A lot of work still needs to be done, but we have the smartest
• 8:33
  minds on our side. So I have no doubt in my mind it
• 8:36
  will get accomplished, but that's something to keep in mind
• 8:39
  as well. Anyways, ladies and gentlemen,
• 8:41
  it's gonna be a great show. Lots to cover Today.
• 8:44
  The ETF news. We're gonna have a lightning
• 8:45
  talk and just things overall. So sit back, relax, enjoy the
• 8:50
  ride. Let's get some numbers.
• 8:52
  Let's do it. Here we go.
• 8:55
  The Bitcoin numbers. Is your Bitcoin and cold storage
• 8:58
  really secure? Is your seed phrase really
• 9:01
  secure? Stamp seeds?
• 9:03
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  hammer your seed words into commercial grade titanium plates
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  All things that paper is not allowing you to huddle your
• 9:47
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  At the time of recording the Bitcoin price is 43,105 SATS per
• 10:36
  dollar. 2320 block height 827,987 blocks to having 12,013
• 10:46
  having estimate April 20th 2024 Total lighting network capacity
• 10:51
  4876 Bitcoin capacity value 210 million U.S. dollars.
• 10:58
  Realize monetary inflation 1.74%.
• 11:02
  The market capitalization of Bitcoin 845 billion U.S.
• 11:07
  dollars. Bitcoin versus gold market cap
• 11:10
  6.13%. In the grand scheme of things
• 11:14
  Bitcoin is still a baby. Anyways, I do want to talk
• 11:19
  about, I do want to talk about before we get into the ETF news
• 11:23
  and all that stuff. Ladies and gentlemen, we are
• 11:26
  seeing the crack, the the, you know, the, the, the actual
• 11:30
  wording is the shift. But really what we're seeing is
• 11:32
  the crack, the, you know, the shattering of the Overton
• 11:37
  window. Like, not only is Bitcoin being
• 11:39
  talked about in the new media, I really consider the new media
• 11:43
  independent content creators like Tim Poole, Steven Crowder,
• 11:48
  you know, The Young Turks, Ben Shapiro, The Daily Wire, you
• 11:53
  know, Jordan Peterson, That's the new media.
• 11:55
  That's where I would say in the future with a major majority of
• 11:58
  people are going to be getting their content from independent
• 12:00
  media. But the legacy media still has
• 12:03
  influence. You know, the older generations
• 12:05
  are not exposed to this new type of media and the, the, and it's
• 12:10
  important, right, that the legacy media starts to cover
• 12:15
  Bitcoin. Natalie Burnell does an
• 12:16
  incredibly incredible job. Every time she gets invited to
• 12:20
  Fox Business, she absolutely crushes it.
• 12:23
  So the more this Overton window shifts, the more Bitcoin is
• 12:28
  talked about in a positive light.
• 12:30
  You know Jack Muellers on Yahoo News, right?
• 12:33
  The more that happens that the other day we played you a clip.
• 12:36
  Actually it was last week. I forget what the night show
• 12:39
  host was, maybe was like Jimmy Fallon or something.
• 12:41
  We had the Reddit, Stephen. Colbert, right?
• 12:43
  Stephen Colbert, you had the Reddit Co founder talking about
• 12:47
  what Bitcoin is, why it's useful and it reminds me of that talk
• 12:50
  show. There's this very famous
• 12:52
  Internet clip, like there's this very famous like viral clip of
• 12:56
  the Internet being explained and they're like whatis.com.
• 12:59
  Like, what is this at symbol? That is where we are in the
• 13:02
  movie, ladies and gentlemen. That's where we are in the
• 13:04
  Bitcoin adoption. This is like the early to mid
• 13:07
  90s of Bitcoin of Bitcoin adoption of awareness in
• 13:11
  Bitcoin. So these types of moments, not
• 13:14
  only are they historical, you'll look back on these on these
• 13:17
  videos. You know, 1015 years from now
• 13:19
  you be like, wow, that was incredibly obvious the entire
• 13:22
  time. So anyways, let's check this
• 13:24
  out. Here we go.
• 13:24
  It's about a two-minute clip. I'm going to play it out 1.25
• 13:27
  times this, two 1.25 times the speed.
• 13:29
  So it's going to run a little bit faster.
• 13:30
  Let's check it out. Welcome back.
• 13:31
  The newest mine in Sandersville has nothing to do with mining at
• 13:34
  all, but the Bitcoin mine is definitely making an impact on
• 13:37
  the city's economy. Last year we took him inside the
• 13:40
  high tech facility and now it's expanding.
• 13:42
  And Anthony Montato got a tour. Today he joins us in studio with
• 13:45
  a look inside. Hey guys, the facility is truly
• 13:47
  massive. Take a look at this.
• 13:48
  That's just the power station. In fact, like I said, it even
• 13:51
  has its own power substation just to help manage the 250 MW
• 13:54
  power output. That's about 10 times what it
• 13:56
  takes to power the entire city. There were some trees in a dirt
• 13:59
  field, right? It's come a long way, moving
• 14:00
  really quick. Fast forward two months in a
• 14:02
  sprawling tract of land is turning into a sprawling Bitcoin
• 14:04
  mine. We're halfway, you know, up the
• 14:06
  hill right here with six buildings coming up.
• 14:08
  Each one as long as the Titanic, all of them housing computers
• 14:11
  just like this that crunch numbers all day to create
• 14:13
  Bitcoin. Because cash for digital age.
• 14:16
  That's what Bitcoin does. So Bitcoin, Unlike some of these
• 14:20
  other cryptocurrencies that have ACEO, there's no CEO of Bitcoin.
• 14:23
  Cleanspark chief communications officer Isaac Holyoke says
• 14:25
  that's why the company's posted record profits.
• 14:27
  He says more people are buying in and they need to help meet
• 14:29
  the demand, so they're expanding their Sandersville facility to
• 14:32
  become the company's flagship. There is more energy in Georgia
• 14:34
  than there is used for not energy.
• 14:36
  Sandersville City Administrator Judy Mccorkel says that creates
• 14:39
  an advantage for them. Since the city manages its own
• 14:41
  electric company and reduces bills for everyone else.
• 14:43
  Homeowners could see the benefits on their property tax
• 14:45
  bill. At some point I could see that
• 14:47
  property tax being rolled back to almost nothing, almost 0% and
• 14:51
  that's huge for us. Clean Spark site manager Bogan
• 14:53
  says those effects will be even stronger after they expand.
• 14:55
  We're sending over six figures back to the city each month, and
• 14:58
  you know that's going to be very significant coming on post
• 15:00
  expansion. He estimates they'll pay
• 15:02
  $500,000 a month in taxes alone. That's about 6,000,000 a year.
• 15:05
  That money is money that the city wouldn't be getting.
• 15:07
  You know it's going to schools, to roads, to other community
• 15:10
  infrastructure that you know may have been neglected for a while.
• 15:13
  Now, Mccorkle told me, they're considering building a hotel for
• 15:15
  when that new facility is finally up and running.
• 15:17
  Back to you. Thanks, Anthony Clean, Sparks
• 15:19
  says they hope to have the facility up and running in the
• 15:21
  next few months. So I mean, pretty crazy, right?
• 15:25
  Pretty crazy that this is making the news.
• 15:29
  And not to mention once again, here we go.
• 15:33
  Clean Spark is responsible for lowering energy bills and local
• 15:36
  property taxes, not to mention the opportunity that it's going
• 15:39
  to bring that local community. This is never talked about when
• 15:43
  Bitcoin is attacked by, you know, these captured
• 15:47
  propagandists, 'cause I don't really call them journalists at
• 15:49
  this point. Like from the New York Times.
• 15:53
  Basically talking all about the negatives, right?
• 15:56
  Whether you know, it's breaking news for Elizabeth Warren that
• 15:59
  Bitcoin is going to be used by, you know, by countries to
• 16:02
  circumvent U.S. sanctions. Bitcoin's going to boil the
• 16:05
  oceans, doctoring pictures in the sky, making it seem like
• 16:09
  somehow, you know, the Bitcoin miners are releasing a pollution
• 16:14
  out into the atmosphere. Which is why it's so funny when
• 16:17
  Pierre Rashard did that fucking video, which is hilarious.
• 16:20
  So yeah, ladies and gentlemen, this is winning.
• 16:23
  This is what winning looks like. You're seeing the media shift.
• 16:29
  And I gotta be honest, I'm gonna give a little bit of credit to
• 16:31
  Elon Musk, right? Elon freed the bird.
• 16:35
  And as much as bitcoiners, we're fans of Noster.
• 16:38
  I love Noster. I have an account.
• 16:39
  I, I I post to it all the time. The primal app is dope.
• 16:43
  I use it a lot and I post on Noster.
• 16:48
  But it's kind of like the same reason with YouTube.
• 16:51
  People are like Nico, like you should post simply Bitcoin to
• 16:53
  other platforms. The reality is that most people
• 16:56
  are on YouTube. The reality is that most people
• 16:58
  are on X. The reality is that most people
• 17:00
  are on these platforms. And because most people are
• 17:02
  there, the fact that Elon freed the bird, the the the fact that
• 17:06
  Elon got in there and said, you know what, free speech, we have
• 17:09
  to do this, that was a very big win, right?
• 17:12
  Because now it's a loud free discourse and then you're
• 17:16
  starting to see anyone who bullshit it doesn't matter what
• 17:19
  ideological side they're coming from.
• 17:21
  But you see central bankers that Christine Lagarde get community
• 17:25
  noted. You see even government
• 17:27
  officials like Joe Biden, when he was trying to tell people
• 17:30
  about how inflation went down, he got community noted.
• 17:33
  If you tout out bullshit, the community can come together and
• 17:37
  say, listen, you're you're lying, right?
• 17:40
  When Christine Lagarde or the European Central Bank came out
• 17:42
  with a tweet basically saying how CBDCS, you know, we should
• 17:47
  adopt CBDCS, the community note was very powerful because it
• 17:50
  said, look, CBDCS aren't necessary, right?
• 17:53
  So we're we're not only watching the Overton window shift, but
• 17:58
  we're also watching a theory that was first written about in
• 18:03
  the book, The sovereign Individual, which is where I got
• 18:05
  this from. We're also watching the complete
• 18:08
  disintermediation of information with it.
• 18:12
  The Internet really started this.
• 18:14
  The fact that people are allowed to communicate directly,
• 18:16
  peer-to-peer has changed everything.
• 18:19
  It really, really hurts the ability for governments or these
• 18:23
  large NGOs or these large institutions to control the
• 18:26
  narrative they they've been used to controlling.
• 18:29
  But because of Bitcoin's incentives, all of a sudden that
• 18:33
  narrative's starting to become positive, even in the captured
• 18:37
  outlets, even in established legacy media, right?
• 18:40
  So it's glorious to see. We still need a lot of work to
• 18:43
  do. Until Rachel Maddow goes on
• 18:45
  MSNBC and she says guys buy Bitcoin, our job is not done
• 18:51
  yet. So we are making progress.
• 18:53
  This is great local news. Fox Business shout out Natalie
• 18:57
  Burnell. You know Jack Mahlers, I think
• 18:59
  he went on CNNA couple times dropping dropping bombs.
• 19:02
  But until Rachel Maddow says I like this Bitcoin thing, our
• 19:06
  work is not over. Anyways, Opti, what are your
• 19:09
  thoughts on all this, brother? Oh well well, it looks.
• 19:13
  Like we're probably gonna be in a job for a long time.
• 19:17
  Oh, man. All right, all right.
• 19:19
  Seriously, though, actually not so seriously.
• 19:22
  Wait. Bitcoin makes your energy bills
• 19:24
  cheaper and may lower your taxes?
• 19:26
  Who would have thunk? Who would have thumped that?
• 19:28
  Bitcoin mining and Bitcoin actually helps normal people.
• 19:30
  Oh my God, we never saw this coming.
• 19:32
  I, I I couldn't have foreseen this.
• 19:35
  Guys, Obviously some sarcasm, but I I just love to see
• 19:39
  positive and correct things, positive and correct things
• 19:42
  being said about Bitcoin in the corporate press, or rather
• 19:45
  legacy media. Because it just goes to show
• 19:48
  that you can't stop truth and and the signal will rise to the
• 19:51
  top. And I know we get so used to
• 19:54
  being gas lit in regards to Bitcoin because most of the huge
• 19:59
  corporate propaganda wings come out and say all this negative
• 20:02
  stuff about Bitcoin because they don't want Bitcoin to
• 20:04
  proliferate to the masses. I think it's ramping up in the
• 20:08
  opposite direction where we will be seeing a lot more positive
• 20:12
  and correct things being said about Bitcoin.
• 20:14
  And the average person will get that curiosity and they will
• 20:18
  start to look to alternatives. They'll you know, like if people
• 20:21
  saw this story, average, everyday people are feeling the
• 20:24
  pain. I don't know if you guys still
• 20:25
  talk to normies, but most average people are starting to
• 20:29
  feel the pain of inflation. They're wondering what's going
• 20:31
  on. Clown World's accelerating
• 20:32
  Things are getting crazy if if even if you just very, very
• 20:37
  minimally watch what's going on in the news.
• 20:39
  It seems like things are getting even more and more crazy out
• 20:42
  there and people are going to look for solutions.
• 20:45
  And I think Bitcoin is one of them or else we wouldn't be
• 20:47
  doing this show in the 1st place.
• 20:48
  And so I think a lot of times as Bitcoiners, we kind of shoot
• 20:53
  ourselves in the foot by talking about all the negative aspects
• 20:55
  about Fiat and not necessarily pushing the positive aspects
• 20:59
  about Bitcoin. And this is just a perfect
• 21:01
  example of and and you guys are, you know, Nico, they're, they're
• 21:04
  playing a game in the chat now that every time we say breaking
• 21:07
  the Overton window, they have to drink.
• 21:08
  But this is how you break the echo chamber.
• 21:11
  And. This is how you break the
• 21:12
  Overton window, or rather shift the Overton window.
• 21:15
  Shatter, shatter, shatter that Overton window, people.
• 21:18
  Realizing that, oh wait, maybe Bitcoin isn't this negative
• 21:22
  thing that I've heard, because most people just hear a few
• 21:24
  headlines here or there and that's what they think Bitcoin
• 21:27
  is. And now we're starting to see,
• 21:29
  like I mentioned in the beginning, you know, the biggest
• 21:31
  institutional asset managers in the world, corporate press, some
• 21:34
  influential people, whether you believe in what they do or not,
• 21:38
  they're all talking positively about Bitcoin.
• 21:40
  And just slowly but surely, this is how we shift that ship.
• 21:44
  That is all the negativity around Bitcoin.
• 21:46
  Like, people are waking up to the idea that wait, Bitcoin does
• 21:50
  help Planet Earth. Wait, it can help me as an
• 21:52
  individual. Maybe I want some Bitcoin just
• 21:55
  in case it catches on. Anyways, Justin, what's your
• 21:58
  thoughts on this? You know Bitcoin is truth,
• 22:00
  right? That's one of the big features
• 22:02
  of this is like this unstoppable force that's moving forward.
• 22:07
  And it, you know, in Bitcoin it's for enemies.
• 22:09
  We can bring out all the cliches, but they're proven to
• 22:11
  be true. We're we're entering a world
• 22:13
  where it's more profitable for these big companies, the black
• 22:16
  rocks, the media companies, you know, to basically, you know,
• 22:19
  show their backs. The the truth is more profitable
• 22:22
  for them than the lies that they've been selling for a very
• 22:24
  long time. Because the truth just won't be
• 22:26
  stopped. And that's the whole point of
• 22:28
  Bitcoin being unstoppable is let people discover that's true.
• 22:32
  Love It Can't agree more. Percent, 100%, Yeah, man,
• 22:36
  Bitcoin is truth. That is the signal right there.
• 22:40
  More and more, you can't fight against the truth.
• 22:42
  The truth is the truth, right? But a lot of these central
• 22:45
  planners that have been used to central planning and they've had
• 22:49
  this God like power because that's really what it is, this
• 22:52
  God like power of being able to create money for free that the
• 22:57
  rest of us peasants have to slave away for.
• 23:00
  You know, I'm sure it gets to their heads.
• 23:02
  I'm sure that they believe they know how to do monetary policy
• 23:07
  and history has shown that it's been cluster F after cluster F
• 23:12
  after cluster F like over and over and over again.
• 23:16
  I was watching this document that our boy Ruston talent
• 23:21
  behind the Simply originals which ladies and gentlemen I'm
• 23:24
  going to start doing some very very soon.
• 23:26
  I'll start. I'll talk about that a little
• 23:28
  bit later on. But but yeah so Ruston
• 23:30
  recommending this documentary called The Great Taking.
• 23:33
  I highly recommend it. It's on YouTube and it just went
• 23:37
  like I just went down this rabbit hole and the scam that is
• 23:41
  central banking like the the whole idea of it is just it it
• 23:45
  it's it's crazy they they've normalized theft and everyone's
• 23:49
  blind to it like people don't people don't quite understand
• 23:53
  what is happening behind the hood.
• 23:55
  And then their argument is basically like oh we're gonna go
• 23:59
  back to the wild days of banking where there was a lot of
• 24:02
  instability. Every bank was issuing their own
• 24:05
  money and it was all this chaos. Like, I just have to remind
• 24:08
  everyone, the biggest depressions in human history
• 24:14
  have happened under the establishment of the central
• 24:18
  bank in the United States, the Federal Reserve.
• 24:21
  Right in 1933, when or 19 or you know, after the after the, you
• 24:28
  know, the roaring 20s, so to speak, came the Great
• 24:31
  Depression. It was horrible.
• 24:34
  The stock market didn't recover for like another decade.
• 24:36
  It was just it was insane. And a lot of people speculate
• 24:38
  it's because of the war, right, that it did recover in the 1st
• 24:41
  place. And then of course, you had, you
• 24:44
  know, the crashes in the 80s. You had Nixon take us off the
• 24:47
  gold standard in the 70s. You had the fact that that
• 24:52
  everything got more, everything got more expensive, but wages
• 24:56
  have remained relatively stable. Go to what the F happened in
• 24:59
  1971 if you want more information.
• 25:02
  And then of course, the Great Recession that happened in 2008,
• 25:06
  right. And then and I'll say this, and
• 25:08
  I was telling Justin this before the show, if you're under the
• 25:12
  age of 40, you like you're not, you're you're essentially A
• 25:17
  serf. You're not going to own
• 25:18
  anything. You're out priced of buying a
• 25:21
  home. And that is literally because of
• 25:25
  central banking. So this whole idea that like,
• 25:28
  you know, this whole idea that that this, this thing is somehow
• 25:31
  necessary, that's bullshit. And I love what you said about
• 25:35
  the truth, Justin, to kind of, you know, wrap this up, which is
• 25:39
  Bitcoin exposes the truth. Not only does it tell you what
• 25:44
  money is, what true money should be, but it also exposes the
• 25:48
  truth that central banking is itself a scam.
• 25:53
  And if you are someone who has benefited from that system, of
• 25:58
  course you're going to hate Bitcoin.
• 26:00
  But you don't have any good reasons as to why you're going
• 26:04
  to hate Bitcoin. So you're going to try to find
• 26:06
  sly, roundabout ways to try to make your your competition
• 26:11
  disappear. Bitcoin is for terrorism.
• 26:13
  Bitcoin is for money laundering. Bitcoin is for this.
• 26:16
  But what they don't know, and they still haven't come to terms
• 26:19
  with is they could say all those things, but every single day
• 26:24
  more people go on Team Orange because Team Orange offers
• 26:28
  better incentives and their incentives suck ass.
• 26:32
  Excuse my language, right? Unless you're at the
• 26:35
  bureaucratic elite top level, right?
• 26:37
  And then, of course, all their friends.
• 26:39
  Maybe you can benefit from the continuing air system.
• 26:42
  But everyone else gets poor, right?
• 26:46
  Including institutions like BlackRock.
• 26:48
  They're even falling for the incentives, including public
• 26:51
  companies like Michael Saylor. Moving the chart, Do you think
• 26:54
  Michael Saylor did this for an ideological stance?
• 26:57
  No. He's literally telling you he's
• 26:59
  like, dude, this thing is the this thing created opportunity
• 27:02
  for my company. I was, I was planning to go
• 27:05
  retire, but then I saw this thing and I'm like, holy cow.
• 27:08
  And I'm telling you, this happens with everyone and then
• 27:11
  I'll wrap it up and we'll move on to the news.
• 27:14
  Here's the thing guys, I think 99% of us come for the money.
• 27:21
  OK, to be blunt, most people come in your Bitcoin because
• 27:24
  they see a financial opportunity, however big.
• 27:29
  However, once you come here for the money, Bitcoin has a has
• 27:34
  this like hidden feature where it makes you start to ask
• 27:37
  questions about what it is it, what is it that you're actually
• 27:40
  holding and then all of a sudden it converts you and then all of
• 27:44
  a sudden you are in it for the revolution.
• 27:46
  And ladies and gentlemen, make no mistake, we are in a
• 27:49
  revolution. This is the separation of money
• 27:52
  and state. But unlike the separation of
• 27:54
  church and state, I believe this will be hopefully no one knows
• 27:58
  the future. I think this will be a bloodless
• 28:00
  revolution and I think this is a revolution that will benefit
• 28:03
  everyone equally in terms of their ability to benefit from
• 28:07
  what is happening. They just got to jump on the
• 28:10
  train. They just got to take Bitcoin
• 28:12
  into self custody. They just got to run their own
• 28:14
  note, Literally all of our partners, they're picked for a
• 28:18
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  Humanity's gonna see, gonna gonna feel this freedom.
• 28:43
  They're gonna, they're gonna, we're gonna, we're gonna enter a
• 28:45
  new renaissance in human history.
• 28:48
  And I think at that point people will start to realize what a
• 28:51
  catastrophic fucking idea was. Central banking that was
• 28:55
  terrible. The fact that people still think
• 28:58
  that somehow this is gonna work in this new century, in the
• 29:02
  information age, right, In the age where everybody has the
• 29:05
  ability to build their own platforms, circumventing the
• 29:08
  gatekeepers of information. No, it's time for a new system.
• 29:12
  That old system is dying. It's dead.
• 29:14
  They just don't know it yet. It's time for freedom.
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  It's time for Bitcoin. It's time for opportunity for
• 29:19
  everyone. Not a not just the bureaucratic
• 29:22
  elite and their friends. All right, everybody, let's get
• 29:25
  to the news. We have a lot to talk about
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  today. Let's check it out.
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• 32:11
  All right, ladies and gentlemen, pretty pretty crazy what's
• 32:15
  happening right now, The amount of inflows going into these
• 32:18
  ETFSI think it's partly responsible for why we're seeing
• 32:21
  a Monday morning pop, right? You know, I think we we hit 39 K
• 32:25
  we jump back up to 32. All right, sorry, 4243 K very,
• 32:30
  very quickly. But let's check this out.
• 32:32
  Here's a tweet by Bitcoin News. Within the first hour of trading
• 32:36
  Bitcoin Blackrock's Bitcoin ETF is surpassing GBTC in volume
• 32:41
  making the first time a new Bitcoin ETF is outperforming
• 32:45
  Grayscale. If this trend continues, it will
• 32:47
  be the first time a Bitcoin ETF has had a trading volume, a
• 32:52
  higher trading volume than grayscale and of course the the
• 32:57
  iShares. Bitcoin Trust is the BlackRock
• 33:00
  ETF. And boy have times have changed.
• 33:03
  Back in 2017, this was what the CEO of BlackRock was saying.
• 33:09
  He called Bitcoin an an index of money laundering.
• 33:14
  And then it goes on to say it also mentions what JP.
• 33:18
  What? JP Morgan Chase CEO Jamie Dylan
• 33:21
  Jamie Dimon, he says. Who owned the cryptocurrency?
• 33:24
  Stupid people, mind you, at the beginning of 2017 the price of
• 33:29
  Bitcoin was at $1000. Oh man, I wish I can go back to
• 33:34
  those times. It was at $1000 per coin, it's
• 33:40
  sitting at 43,000. That's a 43X43X, right?
• 33:47
  That's life changing for a lot of people.
• 33:49
  And then this dumb mother effort was going in my, and that's my
• 33:53
  opinion guys like wow that that was a stupid call.
• 33:56
  That was a stupid call. I think he's taking an
• 33:59
  ideological stance on Friday's episode.
• 34:02
  We we made the case as to why he said that.
• 34:04
  We played you a video by Brian Brooks, the Comptroller of the
• 34:07
  Currency, and he was making the case that crypto currency,
• 34:10
  Bitcoin and shit coins are not a replacement on currency.
• 34:15
  What their replacement replacement on is banks.
• 34:18
  So I understand Jamie Dimon, why he's taking that stance, but
• 34:21
  Jamie Dimon could also benefit from this.
• 34:23
  If they're the largest bank and they're profitable and they're
• 34:27
  making money, they could benefit off this by buying Bitcoin,
• 34:30
  putting it on their balance sheet, offering Bitcoin
• 34:33
  financial services to companies, offering the ability to custody
• 34:37
  Bitcoin for large clients, right?
• 34:39
  They could benefit from this just as everybody else, right?
• 34:42
  Move with the times. Because if not, they'll
• 34:45
  blockbuster themselves, right? You know, so they'll Barnes and
• 34:49
  Nobles themselves, right? Either moves with the times or
• 34:52
  you get left behind. You get the you get the risk of
• 34:55
  getting left behind. The thing is that with the
• 34:57
  traditional financial system, this is an industry.
• 35:01
  Banking first popped up in, like the Renaissance in Italy.
• 35:05
  Like banking has been around for hundreds of years.
• 35:07
  There was barely any innovation, right?
• 35:10
  So I understand why they're moving slowly.
• 35:12
  And of course, they've built this government Moat around
• 35:14
  them. Part of the reason that the ETF
• 35:16
  was approved, the BlackRock ETF was approved because of how much
• 35:21
  political force and influence BlackRock has, right.
• 35:26
  So yeah, I mean, I think if you don't get on the train, if you
• 35:29
  don't get on the Bitcoin train, this doesn't matter who you are,
• 35:33
  right? Whether you're a huge bank, an
• 35:35
  ETF, a billionaire, a millionaire, you know, you know,
• 35:39
  someone who's worth, you know, 50,020 thousand, 10,000, a
• 35:42
  $1000, if you don't get on the Bitcoin train, you will get left
• 35:46
  behind, right? This thing has not stopped
• 35:49
  anyways in today's news, right? And and compare and contrast
• 35:54
  this right 2017, this thing was, you know, this thing's for money
• 35:57
  laundering. Fast forward, you know, a couple
• 36:00
  years later, seven years later, guess what happened?
• 36:03
  BlackRock I I bit ETF now holds almost 50,000 Bitcoin as asset
• 36:09
  under management hits $2 billion.
• 36:12
  It goes on to say Blackrock's iShares Bitcoin ETF has set a
• 36:15
  new benchmark in the cryptocurrency investment space
• 36:18
  by amassing over $2 billion in assets under management.
• 36:22
  Just ten days after its trading debut, BlackRock now holds
• 36:26
  50,000 Bitcoin through its ETF. The rapid accumulation reflects
• 36:31
  the strong investor interest and also marks a significant moment
• 36:35
  in the integration of digital assets into mainstream finance.
• 36:39
  Since its launch, IBIT has seen a consistent inflow of capital
• 36:43
  in the 1st 10 days. The fund's strategic acquisition
• 36:46
  in the rising value of Bitcoin significantly boosted its asset
• 36:50
  under management. A key moment occurred on the 9th
• 36:52
  day with an investment surge of approximately $170 million.
• 36:57
  This influx allowed the fund to acquire 44,300 bitcoins, pushing
• 37:02
  its total holdings to 49 thousand 49,952 bitcoins.
• 37:08
  With bitcoins price soaring past the $40,000 mark, Ibis value
• 37:12
  rapidly escalated, Crossing the $2 billion threshold.
• 37:16
  Ladies and gentlemen, we are just getting started and I just
• 37:19
  want to remind everyone there is not enough Bitcoin to go around.
• 37:25
  There's nothing else like this, including gold, right?
• 37:29
  Gold has a roughly 2% inflation. And mind you, when the price of
• 37:34
  bit of the price of gold goes up, those gold miners right that
• 37:39
  you know you could say weren't profitable at at lower gold
• 37:42
  prices, all of a sudden they ramp up their operations and
• 37:47
  they can mine more gold. So that inflation rate remains
• 37:49
  relatively state steady at the time of recording.
• 37:53
  Right now, the realized monetary inflation is 1.74% in Bitcoin,
• 37:58
  and mind you, that's about to get cut in half in April.
• 38:03
  So it doesn't matter how many more miners pile in.
• 38:07
  The halving ensures and the absolute scarcity that Bitcoin
• 38:11
  has ensures that it doesn't matter how much more need and
• 38:16
  want there is on the market. The issuance gets smaller over
• 38:20
  time and the cap supply is what it is.
• 38:23
  It's 21 million. That will never change.
• 38:24
  And it's estimated that between 3 to 4 million Bitcoin are just
• 38:28
  gone, right? They're lost forever, people
• 38:30
  lost the keys. So I'm just trying to paint a
• 38:34
  picture that you have these large institutional players
• 38:37
  coming into the fold. We haven't even hit the mania
• 38:41
  phase of the market, which I think is coming in 2025.
• 38:43
  A lot of people are speculating 2024, but we haven't even hit
• 38:48
  the mania phase and the institutions are here and they
• 38:51
  have the infrastructure to get exposure to this thing if they
• 38:54
  wanted to. And you think Michael Saylor's
• 38:57
  been vindicated yet he hasn't even been vindicated.
• 38:59
  He hasn't even had the bull market yet.
• 39:02
  What other big public companies are going to join him?
• 39:06
  Because they're going to have the.
• 39:07
  They're going to have the the the the market pressure to join
• 39:10
  him because the shareholders are going to be like, look, micro
• 39:13
  strategy clearly makes less money than Apple, but by by them
• 39:18
  just adopting Bitcoin, look at how they're performing.
• 39:22
  And I I really, I really believe that this epoch and you're gonna
• 39:26
  see more public companies jump in and you're also gonna see
• 39:30
  potentially nation states jump in because the incentive
• 39:33
  structure is there. This is the best performing
• 39:36
  asset the world has ever seen. And I'll get to that in a
• 39:39
  second. But let me continue reading
• 39:42
  this. So not only is it not only is
• 39:45
  it, BlackRock is also Fidelity. Fidelity Investments, Wise
• 39:49
  Orange and Origin Bitcoin Fund also shout out to Fidelity
• 39:53
  because they're the only ones that are taking self custody
• 39:55
  themselves. Everyone else has outsourced
• 39:57
  that to like Gemini and Coinbase.
• 39:59
  So shout out to Fidelity. They're O GS and they've been.
• 40:01
  They've been here for a while. I believe it was 2014 when they
• 40:04
  first dipped their toes in Bitcoin, Anyways, goes on to
• 40:07
  say. Is poised to be the next fund to
• 40:09
  cross the $2 billion threshold, with holdings just shy of 44,000
• 40:13
  Bitcoin. As of press time, the ETF has
• 40:15
  almost mirrored the performance of the IBIT since its launch,
• 40:19
  recording more than 100 million in inflows on January 26th, with
• 40:22
  a total of 1.8 billion in 10 days.
• 40:25
  Meanwhile, Fidelity's Day Day 10 trading volume stood at $223
• 40:31
  million, marginally higher than Ibit's 200 and three
• 40:35
  203,000,000. This race between major
• 40:39
  financial institutions to capitalize on the burgeoning
• 40:41
  cryptocurrency market is a clear sign of the sector's growing
• 40:45
  legitimacy and appeal. Blackrock's success I bit come
• 40:50
  amid A broader trend of increasing institutional
• 40:53
  involvement in the crypto space. This is a game changer.
• 40:57
  The Remember when this ETF, you're going to have the
• 41:02
  smartest minds in the world selling this to their clients,
• 41:06
  and their clients are happen to be the people, the wealthiest
• 41:11
  people in the world that also hold the lion's share of the
• 41:15
  world's wealth. And the fact that there is so.
• 41:18
  Much legitimacy, there's so much approval.
• 41:22
  Right from these large institutions is a big deal, at
• 41:25
  least for price. We'll get to the revolutionary
• 41:27
  aspect in a second. So here is, you know, Michael
• 41:30
  Saylor. I was talking about him earlier.
• 41:33
  Check out Microstrategy's Bitcoin strategy and how it's
• 41:38
  outperformed. Everything else, including,
• 41:41
  ladies and gentlemen, government bonds.
• 41:43
  So MicroStrategy is up 346% since it's adopted a Bitcoin
• 41:48
  strategy. Bitcoins been up 158%.
• 41:52
  The NASDAQ has up 43%. The S&P 500 was up 500% and
• 41:58
  forgive me this wasn't since it's adopted as Bitcoin
• 42:00
  strategy. This is the year to date
• 42:02
  performance of in 2023. Clearly the micro strategy
• 42:06
  Bitcoin strategy was the way to go.
• 42:11
  Also here is a a screenshot of a a screenshot of a of a
• 42:19
  presentation or slideshow that was that was released by
• 42:22
  released by Bitwise. I believe they have the ETF
• 42:25
  ticker of Huddle I I also believe that they are one of the
• 42:29
  ETFs that offered a percentage of their earnings and they're
• 42:34
  gonna donate that back to Bitcoin developers so shout out
• 42:37
  to them. But as you can see, if you just
• 42:40
  laid out from 2011 to 2023, Bitcoin is essentially the best
• 42:46
  performing asset on the vast majority of of days, right?
• 42:51
  So, you know, in 2020, eleven it was Bitcoin, In 2012 it was
• 42:55
  Bitcoin, In 2013 it was Bitcoin. In 2015 it was Bitcoin.
• 42:59
  In 2016 it was Bitcoin 2017, it was Bitcoin 20/19, it was
• 43:03
  Bitcoin 2020, it was Bitcoin. In 2021 it was Bitcoin.
• 43:07
  And in 2023 it was Bitcoin. You can't stop this thing.
• 43:11
  There's this great website that I reference all the time.
• 43:14
  It's called Price in Bitcoin 21 and it shows you what happens
• 43:18
  when you start living your life on a Bitcoin standard, which is
• 43:21
  why we advocate for this so much on simply Bitcoin.
• 43:24
  So on a Bitcoin standard, the dollar has gotten 92% cheaper on
• 43:28
  a five year scale. Oil has gotten 85.
• 43:32
  Percent cheaper gold, 84% cheaper.
• 43:35
  That's for you, Peter Schiff S&P 500 has gotten 84% cheaper.
• 43:39
  The The housing in Miami housing has doubled since they went on
• 43:44
  that printing money spree. Housing is still 78% cheaper if
• 43:51
  you've been saving on a Bitcoin standard.
• 43:54
  So pretty, pretty big news. Before I get to the rest of the
• 43:57
  news, I want to get Opti's thoughts and our guest thoughts.
• 44:01
  Clearly Bitcoin's winning. Clearly Michael Saylor's Bitcoin
• 44:05
  strategy is winning. Clearly we're just winning hands
• 44:09
  down. It's it's almost as if Bitcoin's
• 44:11
  incentives stay winning. I don't know, maybe I'm seeing
• 44:14
  something that's not there. Maybe I'm a little bit biased.
• 44:16
  But dude, in 2020, in 2025, Opti, when this thing, you know,
• 44:21
  blow off top and all that shit happens, we're gonna be
• 44:24
  unbearable, bro. Wait more than we are.
• 44:28
  Should we just, like, wear a shirt like?
• 44:30
  Just winning. Like every single day in 2025.
• 44:33
  Like what? What should we do, bro?
• 44:35
  Charlie Sheen faced with waiting.
• 44:36
  Like, look, look, I'll be honest.
• 44:38
  With you guys, simply Bitcoin was born really like in the
• 44:44
  midst of a bull market. So we really, we really just
• 44:46
  established ourselves as content creators.
• 44:48
  We haven't really, you know, gone through a full bull market
• 44:52
  yet, you know, as simply Bitcoin, as a YouTube channel,
• 44:54
  as a media company. But dude, like, I mean, guys, if
• 44:58
  you've been watching since the very beginning, like not to toot
• 45:02
  our own horns, we told you so. Like we telling you all of this
• 45:06
  thing was gonna happen. It was inevitable.
• 45:09
  And you know, and we couldn't tell you what the price was.
• 45:12
  We couldn't give you price predictions.
• 45:13
  We never do this on simply. But the reason that we knew we
• 45:16
  were so confident about it is because of Bitcoin's incentives.
• 45:21
  And Michael Saylor understands this, right?
• 45:23
  It is the incentive structure of Bitcoin.
• 45:26
  And then not only the incentive structure, the aligned incentive
• 45:29
  structure model, too, right? Because there's two things
• 45:32
  right? The incentive structure of it
• 45:34
  being irresistible, but the aligned incentive structure of
• 45:37
  everyone wins in the Bitcoin ecosystem.
• 45:40
  If you're a miner, you're not mining because you want to
• 45:43
  support Bitcoin. You're mining out of the pursuit
• 45:44
  of profit. In return, it makes Bitcoin
• 45:47
  stronger. A node.
• 45:48
  You're not running a node because Willy nilly.
• 45:51
  You're most likely running a node because you don't trust
• 45:54
  someone else's node. You don't want to docs your
• 45:56
  stack, you don't want to docs. You know your IP address.
• 45:59
  You don't want to do that. You want to like run a node,
• 46:01
  right? Highly recommend start 9 by the
• 46:03
  way. There's a link in the video
• 46:05
  description. It's pre built.
• 46:06
  The one I run is a server pure it's badass.
• 46:09
  Highly recommend it. It's the best Bitcoin node on
• 46:11
  the market in my opinion. But anyways, so the node
• 46:16
  operators, they don't run nodes just Willy nilly.
• 46:19
  They run nodes because they, you know, they they they care about
• 46:23
  their stack. They care about their privacy.
• 46:25
  In the process, there's more nodes on the network, making it
• 46:28
  even more decentralized. Right.
• 46:30
  If you're a Bitcoin hodler, right?
• 46:32
  Or if you're a Bitcoin media company, right, what are we
• 46:35
  talking about? Bitcoin.
• 46:35
  We talk about Bitcoin every day. We feel passionate about it, but
• 46:38
  why do we feel passionate about it?
• 46:39
  Number go up. We're evangelizing stuff.
• 46:42
  And in the process hopefully some people listen to us and in
• 46:47
  the process of listening to us, you are also get exposure to
• 46:50
  Bitcoin and you will also benefit from number go up
• 46:53
  technology. This is what I mean by an
• 46:56
  aligned incentive structure model.
• 46:58
  So anyways, Bitcoin is winning. Even institutions like BlackRock
• 47:03
  are realizing bitcoins and winning.
• 47:05
  They're jumping off the Fiat ship.
• 47:07
  The Vanguard ship is sinking because they they're not on team
• 47:10
  Bitcoin yet. Vanguard's going to have fun
• 47:12
  staying poor, but overall, man, this is great.
• 47:16
  Michael Saylor vindication, Naimbu Kayla, Vindication.
• 47:19
  Like, I can't wait for the next couple years.
• 47:21
  I can't wait for the end of 2024, where I think things are
• 47:24
  really going to start to run up. And 2025, man, things are going
• 47:27
  to be spicy. All those legacy media articles
• 47:31
  that attacked Naimbu, Kayla, that attacked Michael Saylor,
• 47:33
  they're going to have to swallow.
• 47:34
  They won't, but they're going to have to swallow their words.
• 47:37
  Man, listen, I'll tell you this once, Bitcoins at 510 to $50
• 47:42
  million. I hope someone buys the fucking
• 47:45
  New York Times. Hope they buy that shit and just
• 47:48
  put Bitcoin all over the front page.
• 47:51
  Giant picture of Michael Saylor in like a suit, like oil
• 47:54
  painting. Because man, they don't have
• 47:56
  what they they don't know what's coming.
• 47:58
  They don't know what's coming. They don't know what's coming.
• 48:00
  But we're winning boys. We're winning boys and girls.
• 48:03
  Anyways, Opti, what's your take on.
• 48:04
  Let's get Justin's take and then and.
• 48:06
  Then I'll pop in. You know I I.
• 48:08
  I think people that haven't been around a long time like really
• 48:10
  don't appreciate the the bottleneck.
• 48:14
  The and the ETF stuff opened up like I remember back in the day,
• 48:18
  you know, you get a pump going and that was maybe ten, $20
• 48:21
  million coming in in a day. That's like nothing like a
• 48:23
  rounding yard to these ETFs. Then Coinbase would crash and
• 48:26
  then the price would crash because there was no way for
• 48:28
  Fiat to get into the system like that bottleneck has been opened
• 48:32
  up. We have a successful treasury.
• 48:34
  What I'm seeing in the startup space is more startups are
• 48:37
  keeping a Bitcoin treasury and that's a tailwind and that's
• 48:40
  risk reduction for investors. So investors, not just in
• 48:43
  Bitcoin but investors in other capital projects are going to be
• 48:47
  looking at companies with a a Bitcoin treasury as a favorable
• 48:51
  investment. So I I think soon, you know, if
• 48:54
  you're seeking investors to build something whether that's
• 48:57
  in the Bitcoin space, maybe in the physical even energy grid
• 49:00
  space like we were talking about earlier, you're going to need to
• 49:03
  have a Bitcoin balance sheet just for risk reduction.
• 49:07
  And and now that those ramps are available, the money can
• 49:10
  actually flow there as it's needed.
• 49:12
  And I think that just hasn't been appreciated yet.
• 49:15
  People figuring that out over the course of 24 into 25, that's
• 49:18
  really where you know the the Bitcoin on exchanges starts to
• 49:21
  dry up. Yeah, 100% and and that's kind.
• 49:25
  Of what I was going to touch on as well.
• 49:27
  Like I think people really underestimate that there's
• 49:31
  really not that much Bitcoin to go around.
• 49:33
  And the institutions now, you know, they're officially here.
• 49:36
  The institutions are here. Remember the meme, we've been
• 49:38
  saying it for years like they're scooping up so much Bitcoin.
• 49:41
  It's absolutely incredible. And and I was looking at the
• 49:43
  numbers just so I have these clear.
• 49:45
  I'm over here on Clark Moody's dashboard and the total
• 49:48
  percentage of Bitcoin that will ever be issued is at 93.39% with
• 49:53
  only an issuance of remaining issuance of 1,387,500 56.23
• 50:02
  Bitcoin. And that's what everyone's going
• 50:03
  to be fighting for for the next what, 100 years?
• 50:06
  Like I really think people underestimate what digital
• 50:09
  scarcity means and the numbers that you showed in a week, as
• 50:14
  Roman was saying, like BlackRock basically scooped up three
• 50:17
  months of the Bitcoin supply. After the halving, it's going to
• 50:20
  be, what do you say, 9 months of the supply?
• 50:22
  And that wasn't even talking about fidelity as well.
• 50:25
  They scooped up somewhere near what was the total number to get
• 50:28
  100,000 bitcoins to get into this ETF.
• 50:31
  Like, I think people really underestimate how scarce Bitcoin
• 50:35
  is and how little demand it is going to take to move the
• 50:41
  Bitcoin price. Like, these institutional
• 50:43
  customers are coming in, It's just ramping up and they're
• 50:46
  scooping thousands of bitcoins to lock into this ETF because
• 50:50
  that's what the customers want. Which just goes to show that
• 50:53
  there is an incredible new demand for Bitcoin.
• 50:56
  And of course, you know me like, avoid buying paper Bitcoin, buy
• 51:00
  Bitcoin directly, don't buy a spot Bitcoin ETF.
• 51:02
  But it really just goes to show that customers out there that
• 51:06
  have 401 KS, that employers are matching their 401 KS want to
• 51:10
  get exposure to Bitcoin And hopefully this is the, you know,
• 51:14
  the first steps towards them going down the Bitcoin self
• 51:17
  custody rabbit hole. But man, the demand for Bitcoin
• 51:20
  is just going to go absolutely crazy as the price starts to
• 51:24
  pump. And again, like, I think this is
• 51:26
  just a really good example of how quickly liquidity can hit
• 51:32
  the market in a week. They scooped up what, hundreds
• 51:35
  of thousands of coins, billions of dollars of demand going into
• 51:39
  Bitcoin with daily liquidity of what, you know, almost a size a
• 51:43
  1/3 of bitcoin's market cap right now.
• 51:46
  Like it's going to get absolutely nuts guys.
• 51:48
  And and don't get caught on the sidelines.
• 51:50
  There's so many people that are calling me, like my friends,
• 51:53
  like, hey, do you think it's a good time to buy Bitcoin?
• 51:55
  And, you know, I try not to shield Bitcoin too hard on them,
• 51:58
  but I'm always saying the same thing.
• 51:59
  It's the classic meme. Time in the market beats time in
• 52:02
  the market. Everyone should be getting some
• 52:04
  exposure to Bitcoin. Now I fundamentally think that
• 52:07
  this next year, actually two years after the halving, you
• 52:10
  know, 18 months, historically after the halving, the price
• 52:13
  starts to go nuclear. I think by summertime this year
• 52:18
  we're going to start to see the Bitcoin price climb and it's
• 52:21
  going to be a gradual number go up scenario.
• 52:25
  And I think I just would not want to be sitting on the
• 52:27
  sidelines. And I think there's a lot of
• 52:29
  people that are sitting on the sidelines.
• 52:30
  Oh, oh, oh, John, John. Just dropped some sauce.
• 52:33
  Uh oh, it's their fiduciary responsibility to buy all the
• 52:41
  Bitcoin. Oh, John.
• 52:43
  Spicy, spicy, spicy. Anyway, Speaking of fiduciary
• 52:46
  responsibility, let's take a look at, you know, the Bitcoin
• 52:50
  treasuries, this, this, this website made by Coin Kite.
• 52:53
  So let's check it out. So the very, very top, you have
• 52:57
  micro strategy. Micro strategy has 1X their
• 53:00
  investment. So their cost basis was 5.8
• 53:04
  billion. They're up a couple billion
• 53:06
  dollars. Holy cow, Tesla, Elon, look at
• 53:10
  that. I'm sure you're you're feeling
• 53:12
  that Elon, Elon and Tesla are up about $100 million coin base.
• 53:17
  They've 3.4, they've 3.5 X their investment.
• 53:21
  They were holding, they were sitting on $117 million stack.
• 53:25
  Now it's $408 million Riot. Sorry, Block.
• 53:30
  So this is Jack Dorsey's company cash app.
• 53:32
  Loved cash apps? Pretty good and they their cost
• 53:36
  basis was 220 million. They're up they're up about 100
• 53:41
  and 130 million U.S. dollars. Check this out the Bitcoin Group
• 53:45
  SE. Their cost basis for these 3000
• 53:49
  Bitcoin that they bought was 11,000,000.
• 53:51
  They're up 13 XA 100 and now it's worth $154,000,000.
• 53:57
  Holy cow Can Inc, they're up about 1.24 big digital assets.
• 54:03
  They're up about 2.27 X advanced Bitcoin technologies 2.1 million
• 54:09
  now they're they're sitting on $10 million.
• 54:11
  You guys get the general gist and the the, the point that I'm
• 54:15
  trying to make ladies and gentlemen number go up with all
• 54:18
  these companies. You know all these all these
• 54:22
  assets under management. You know they're they're these
• 54:25
  are crazy guys, this is this is no joke and we haven't even hit
• 54:28
  a bull market yet right. So anyways things are just
• 54:32
  getting started. Things are just heating up and
• 54:35
  people are starting to wake up to the benefits of number go up
• 54:38
  technology. All right, ladies and gentlemen,
• 54:40
  before we hit the culture segment to talk about, to talk
• 54:43
  with our guests, I do want to give a shout out to the Bitcoin
• 54:47
  companies that make this show possible.
• 54:50
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• 54:54
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  He is the head of Marketing at the Orange Pill App.
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  no, I heard Elizabeth Warren said that Bitcoin is for money
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  This book will arm you with the tools to to orange peel them,
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  your responsibility to do so. It's a Bitcoin.
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• 57:22
  right? Well, what's up, Justin?
• 57:25
  Let's talk about what you're working on.
• 57:27
  For those that missed the beginning, what exactly is shock
• 57:31
  wallet and I'll pull up your website right here.
• 57:35
  Sure. So.
• 57:35
  Shock wallet. Is our attempt to make a a first
• 57:39
  cross lightning wallet that kind of solves the problems people
• 57:42
  are seeing with the lightning space now.
• 57:44
  I've been building and lightning for a long time and wallets have
• 57:48
  kind of stagnated. They're trending down.
• 57:50
  These kind of unsustainable pass with like nodes on phones that
• 57:54
  require these chain transactions to get people on board and
• 57:57
  people are just generally not having a very good time.
• 58:01
  And Lightning is, you know, stagnated a little bit I think
• 58:05
  as a result. So you know, we've been building
• 58:08
  on lightning, you know creators of lightning dot video and I've
• 58:10
  seen these problems. So we put a little effort into a
• 58:13
  a Lightning wallet that solves that.
• 58:15
  What Shockwallet does is it works with another piece of
• 58:18
  software where it's called Lightning pump.
• 58:20
  A lightning pub is an application that you run on your
• 58:23
  lightning node that communicates to the Internet at large over
• 58:28
  nosters. You might know that as a, you
• 58:30
  know, decentralized social media protocol, but what it basically
• 58:33
  does is it uses web servers to relay information that's signed
• 58:38
  with public keys and things of that nature.
• 58:40
  So with Lightning Pub, if you have a Lightning node like on
• 58:43
  the start, nine Umbrella, any of those types of node products,
• 58:47
  you'll be able to connect apps on the web like, you know, maybe
• 58:50
  a shopping cart or something like that, but give your friends
• 58:54
  and family access to your node as an account system.
• 58:57
  You can basically be your own wallet of Satoshi with with
• 59:01
  Shockwallet, you know, just with your lightning bulb, send a link
• 59:05
  and they'll be able to open that in Shockwallet.
• 59:07
  Some of the other things that it does is it lets you use those
• 59:11
  other apps sort of like budgets. Like what it's actually doing is
• 59:15
  it's managing multiple accounts. So you might have your your home
• 59:19
  node as an account in the wallet, but then an app use
• 59:22
  let's say like stack or news or something like that.
• 59:23
  You have a balance on there. That's your budget for that app.
• 59:27
  You should be able to manage that all in one wallet.
• 59:29
  And that's just, you know using the standard connections like
• 59:32
  Ellen URL and the master standard we're trying to put
• 59:35
  forward with lightning pub and these kind of things that makes
• 59:38
  it much simpler to take custody and kind of define your rules.
• 59:42
  By having all this on wallet, you can set up automation that
• 59:45
  says, OK, I want to take custody of my stats if they are in
• 59:49
  excess of a certain amount or if a cost like less than 1% to, you
• 59:54
  know, repatriate those back to those mode.
• 59:56
  That's the kind of wallet that we haven't seen yet.
• 59:58
  And I think that's the kind of wallet that really let's
• 1:00:01
  Lightning live up to its potential and you know, really
• 1:00:04
  take advantage of the cost savings because, you know, a lot
• 1:00:08
  of the criticisms are Lightning is too expensive, but Lightning
• 1:00:12
  is just. A chain transaction, right.
• 1:00:15
  So what Lightning is allowing you to do is reuse that chain
• 1:00:18
  transaction. So those fees that you pay on
• 1:00:20
  chain are kind of a one time thing ideally.
• 1:00:23
  And you can reuse that infinitely because the, you
• 1:00:26
  know, Bitcoin is the scarcest thing ever.
• 1:00:29
  The 2nd scarcest thing is Bitcoin block space.
• 1:00:32
  So we need to be more efficient if we're going to scale like you
• 1:00:35
  know, Bitcoin to as many actors as possible.
• 1:00:38
  Now, that doesn't mean 7 billion people are gonna have a UTXO.
• 1:00:42
  That's just a mathematical impossibility 'cause there's
• 1:00:45
  only 21 million Bitcoin. You know, there's a concept of
• 1:00:49
  dust transactions. You can't pay for a transaction
• 1:00:52
  if you don't have enough in your UTXO.
• 1:00:54
  But if we can get that custody, you know, very local and I mean
• 1:00:58
  at at the family and household level, we can avoid the capture
• 1:01:03
  that, you know, basically what happened to gold, right?
• 1:01:07
  Fiat was created by gold because people couldn't custody, they
• 1:01:12
  couldn't verify, they couldn't secure their gold, They put it
• 1:01:15
  into an institution for coupons. If we're going to keep Bitcoin
• 1:01:20
  as this tool to, you know, keep the powers that be honest, we
• 1:01:24
  need as many people being their own bank as possible.
• 1:01:28
  And that means not just savings but also economic activity, you
• 1:01:32
  know, starting a business and earning in Bitcoin.
• 1:01:35
  Those are the ways that we keep control out of centralized
• 1:01:40
  hands. You know, Bitcoin is fixed
• 1:01:42
  savings technology. Well, now we're, we're looking
• 1:01:45
  forward to the next phase. We're looking for, you know,
• 1:01:48
  economic and and payments too is the other side of that.
• 1:01:51
  We don't want to leave the banks around as giant payment
• 1:01:53
  processors once we've, you know, taken savings away from them.
• 1:01:57
  We need to keep these things truly optional for users.
• 1:02:00
  If you want to opt into using a bank, fine.
• 1:02:03
  If you want to opt into using a bank for a payment processor,
• 1:02:06
  fine. But on a freedom level, to keep
• 1:02:10
  all of that honest, we need to have the tools for users to pick
• 1:02:15
  their own direction, basically, so that that's where we're going
• 1:02:18
  with Shock Wallet. Love it, Love it.
• 1:02:20
  OK, we do. Have a question here that I
• 1:02:23
  think will go into this web test demo that that we want to show
• 1:02:27
  real quick. Matthew J says so Shock Wallet
• 1:02:30
  has a lightning node in download and I'll pull up this test demo
• 1:02:34
  and we can show some of these features.
• 1:02:37
  So if you. You can start using chalk wallet
• 1:02:40
  with a trusted node, which we you know there's a bootstrap
• 1:02:42
  node, so if you don't have any sets, could you connect it with?
• 1:02:46
  Could you connect it with? Your own node?
• 1:02:49
  Yes, so. Lightning pub, which is the back
• 1:02:51
  end we're working on, releases for all nodes like the start 9
• 1:02:55
  and umbrel that you'll just be able to run it on your existing
• 1:02:58
  node and then start accepting connections via the wallet.
• 1:03:01
  And that uses master as a transport.
• 1:03:04
  Because one of the big issues that folks have today is if you
• 1:03:07
  want to, you know give your friends and family access to
• 1:03:09
  your node, you need a a static IP address and you need a a
• 1:03:13
  domain to point to that address. You need an SSL certificate
• 1:03:16
  handshake for it to work in any web browsers.
• 1:03:19
  Master kind of solves all of that for us and that's why we're
• 1:03:23
  using it as a transport and this is the first wallet that uses
• 1:03:28
  Noster exclusively for transport between the client and your
• 1:03:33
  note. Some other benefits to that you
• 1:03:36
  know other than the accounts perspective where you can share
• 1:03:39
  it is that it's also a multi device.
• 1:03:41
  So it's not like you have a lightning wallet on your phone
• 1:03:44
  that you can't use on your desktop or you can't use in
• 1:03:48
  other applications. And you know you have other
• 1:03:50
  issues with your your mobile note like your phone goes to
• 1:03:52
  sleep and it breaks your note. Solving all that problems by
• 1:03:56
  allowing you know the start nines of the world to power
• 1:04:00
  these first class. You know web applications
• 1:04:03
  without some of the kind of flaky stuff that happens like
• 1:04:06
  trying to use things like Tor master is much more reliable for
• 1:04:09
  that. So I think this really
• 1:04:10
  interesting I love. That I love that you guys are
• 1:04:14
  potentially using an alternative to to Tor.
• 1:04:17
  I I I don't have an issue with Tor, but I I do it, it is a
• 1:04:21
  little bit slow so it's not as as quick.
• 1:04:23
  So I'm assuming it's from a speed aspect that you're talking
• 1:04:27
  about speed and reliability because.
• 1:04:29
  The nature of Tor, and let's get into a little network
• 1:04:32
  engineering stuff, but there's multiple hops and every time you
• 1:04:35
  have a hop that is additional latency, which is the the time
• 1:04:39
  it takes from one end to communicate to the other.
• 1:04:41
  And then with Tor, you're doing that multiple times.
• 1:04:44
  So you might be bouncing your payment information from Miami
• 1:04:47
  over to Germany and then back to California or something like
• 1:04:51
  that as opposed to a master relay.
• 1:04:54
  You can optimize that can be a master relay that's close to you
• 1:04:57
  in Miami. It can be your customer that's
• 1:05:00
  maybe in California and then it's only the one hop.
• 1:05:02
  So it's much faster, much lower latency and there's less failure
• 1:05:08
  probability because every time you add a hop, that's different
• 1:05:11
  networking stuff that can happen on the Internet, like routes
• 1:05:14
  change or things just break. So if we're going to have a
• 1:05:18
  reliable, you know, a system that is as reliable as the Fiat
• 1:05:22
  rails that we used to today, if you need to be serious about
• 1:05:25
  infrastructure, and Tor quite frankly just doesn't serious
• 1:05:28
  infrastructure, it's good like if you don't want to trust AVPN,
• 1:05:31
  like there's some edge cases for it, but running now payments
• 1:05:34
  infrastructure on, it's just not going to work to work.
• 1:05:37
  I agree. I agree.
• 1:05:38
  Yeah, I mean for certain use cases like I love the start nine
• 1:05:41
  capability where I can connect to my Bitcoin node and then use
• 1:05:46
  like a light wallet like for example Sparrow or Electrum.
• 1:05:50
  And then you can connect your start 9 via Tor to your to your
• 1:05:56
  to your node anywhere around the world right remotely.
• 1:05:58
  Which is is really cool. It is, you know, it is somewhat
• 1:06:02
  slow. I wouldn't say it's slow, it
• 1:06:04
  takes about a a minute to sync. But that reliability aspect is
• 1:06:08
  that like let's say one out of 100 times I opened the app,
• 1:06:12
  there's a socket error right there is some type of thing and
• 1:06:14
  then I have to restart Tor on my machine, whatever.
• 1:06:17
  None of this takes very long, but I could see how you don't
• 1:06:20
  wanna build a payment platform on that stuff, right?
• 1:06:24
  You want something more reliable.
• 1:06:26
  So it's really cool that you guys are using Noster now.
• 1:06:28
  I kinda wanna zoom out and focus on this conversation a little
• 1:06:32
  bit, Justin, which is the idea of I don't think right now that.
• 1:06:41
  Second layer. Solutions are there yet I still
• 1:06:44
  think we have a lot of work to do.
• 1:06:46
  Ben the car man, a buddy of me and Opti currently working on
• 1:06:50
  the Mutiny wallet or the Muni, the Mutiny Lightning wallet.
• 1:06:54
  I I don't think Lightning is there yet.
• 1:06:57
  Liquid I think is doing pretty like it's cool.
• 1:06:59
  The Aqua wallet that Samsung Mao released, but I think Lightning
• 1:07:04
  is not ready as a second layer solution.
• 1:07:06
  Let's say we do Max Payne and we go from what are what are we
• 1:07:10
  sitting at now $42,974 and we go to a million in you know in the
• 1:07:16
  span of six months, right. We are not ready for that.
• 1:07:20
  We are not ready for that. Bitcoin is not ready for on the
• 1:07:23
  base layer. Sure.
• 1:07:24
  Find Danny, anyone that if anyone that's got in, you know
• 1:07:28
  somewhat early or anyone that's been stacking and you have, you
• 1:07:31
  know, half a coin, a coin, you know, point 1.2, point 3.4,
• 1:07:36
  maybe, maybe you're fine, right? But you know, once we get to
• 1:07:39
  those price points .1, even once we get to 100K Bitcoin .1 is,
• 1:07:44
  is, is, is, is is $10,000, right.
• 1:07:48
  Once we get to $1,000,000 Bitcoin .1 is $100,000, right.
• 1:07:52
  So yeah, I mean I'm a little bit worried that we're not quite
• 1:07:57
  there yet on second layer. We, we haven't really built that
• 1:08:00
  out yet and we're on the clock, right?
• 1:08:03
  So is that something that worries you?
• 1:08:04
  Because Lightning's not there, right.
• 1:08:06
  And the moment I realized this, like I came to terms with this
• 1:08:09
  was the moment that Wallet of Satoshi pulled out of the US and
• 1:08:13
  that was my daily driver when it came to Lightning transactions.
• 1:08:17
  And there was no other good replacement.
• 1:08:18
  I found Phoenix eventually, but Phoenix has its pros and its
• 1:08:22
  cons. It's not as easy as download
• 1:08:24
  Wallet of Satoshi and having that great UI experience, right?
• 1:08:28
  Of course, you know all of Satoshi's custodial and you can
• 1:08:30
  get into that conversation, but are you, are you a little bit
• 1:08:34
  more optimistic? Clearly you work in that field,
• 1:08:37
  clearly you know you're in the front lines.
• 1:08:39
  You're in the vanguard of this. Could we see more out of
• 1:08:42
  Lightning in the next couple of years?
• 1:08:44
  Is it going to solve the second layer problem, the second layer
• 1:08:47
  solution? I'm actually all of those
• 1:08:50
  bearish. Things you just mentioned and
• 1:08:51
  that's why I'm building on lightning.
• 1:08:54
  So from a first principles perspective, we gotta
• 1:08:57
  acknowledge what lightning is and what it isn't.
• 1:08:59
  It is not a panacea that everybody is going to.
• 1:09:02
  All 7 billion people in the world are going to have non
• 1:09:05
  custodial payments. That's just not gonna happen.
• 1:09:08
  It's not possible for everybody to have a Bitcoin UTXO, you
• 1:09:11
  know, 21 million Bitcoin, 7 billion people, you can do the
• 1:09:14
  math, you know that turns into dust transactions.
• 1:09:17
  Lightning can't fix that because Lightning is just reusable
• 1:09:22
  Bitcoin transactions. Now we're talking this 2025 moon
• 1:09:25
  scenario right? Where the mem pool is is
• 1:09:29
  completely jacked. And I remember this happened at
• 1:09:32
  one point in the past. You'll be surprised how large of
• 1:09:36
  a UTXO it is not economically viable to commit to the chain.
• 1:09:39
  And it might not be .1 Bitcoin, but it could very well be a
• 1:09:42
  million sets like a million set UTXO sometime in the next year.
• 1:09:47
  It doesn't mean you'll never be able to transact it, but there
• 1:09:49
  could be a long period of time, maybe months, where it's not
• 1:09:52
  economically viable to transact that.
• 1:09:54
  And that's like I say, Bitcoin is scarce.
• 1:09:57
  Bitcoin block space is nearly as scarce.
• 1:10:00
  So if you're concerned with that, you need to be on
• 1:10:03
  Lightning today because that's your leveraged long on Bitcoin
• 1:10:07
  block space that you'll be able to reuse that lightning channel
• 1:10:10
  that you set up today in the future.
• 1:10:13
  The Lightning wallets that are out there now, things like
• 1:10:15
  Phoenix, like you mentioned, they're getting by for now if
• 1:10:17
  you're willing to deal with the expense.
• 1:10:18
  But if it costs $200 to confirm transaction on chain a year from
• 1:10:24
  now, Phoenix is not going to be onboarding many new users and
• 1:10:27
  it's not going to be cost viable to spend $200 to open the
• 1:10:30
  channel to your phone. Stuff like we're working on
• 1:10:34
  opening a channel to your node that maybe a dozen friends and
• 1:10:38
  family use, plus some apps that changes those economics quite a
• 1:10:41
  bit and that lets you reuse that one Bitcoin transaction and
• 1:10:45
  spread that fee somewhat infinitely.
• 1:10:48
  So it's not a panacea, but it does everything Bitcoin does and
• 1:10:53
  then some. It does anything Bitcoin can do,
• 1:10:56
  and it does it better. It doesn't make it perfect.
• 1:10:59
  Yeah, and. And just to kinda.
• 1:11:01
  Add to the like the aspect where the phoenix the.
• 1:11:07
  Problem is that you. Have to open it with that, like
• 1:11:09
  one large, which is fine, but do you really wanna have like $1000
• 1:11:15
  on a hot wallet? You know like which is fine, you
• 1:11:18
  know, maybe some people to each their own, right?
• 1:11:20
  But that's really the downside is that you can't just sending
• 1:11:24
  little microtransactions because now every single time you're
• 1:11:27
  going to have to pay a fee to open that what that open that
• 1:11:30
  Channel, right. But if you send them to like 500
• 1:11:33
  at a time there you got $500 and you're not going to pay very,
• 1:11:36
  very little fees there. But I agree is that long term
• 1:11:39
  viable, you know once fees are you know we we saw this, we saw
• 1:11:43
  like a little example little glimpse of what this future
• 1:11:46
  would be like and you know it it it sucked, it was like 20 or $10
• 1:11:53
  or $20 per transaction. It was brutal, man, for a little
• 1:11:56
  bit. So, yeah, but I'm glad that
• 1:11:58
  there's people like yourself that are in the trenches trying
• 1:12:01
  to solve this problem because it is a problem that needs to be
• 1:12:04
  solved, right. And I think it's not just
• 1:12:06
  lightning. Like lightning isn't like a
• 1:12:08
  solution to it. Fediments I think could provide
• 1:12:11
  a solution to it. Liquid, I'm bullish on liquids.
• 1:12:14
  I like I said I had Samsung on the podcast the other day and he
• 1:12:17
  was, you know, his Aqua wallet has those swaps between Bitcoin
• 1:12:21
  and tether and it's pretty seamless.
• 1:12:23
  So there's definitely, you know, there's definitely solutions
• 1:12:25
  being worked on. But there is no size.
• 1:12:28
  Size fits all so to speak. Yeah.
• 1:12:30
  And and I'm. Not I I don't try to opine too
• 1:12:34
  much on the custodial solutions. I I look at liquid, you know in
• 1:12:38
  the fedements they are custodial solutions and back to the gold
• 1:12:42
  analogy like gold was too hard to take custody of them.
• 1:12:46
  Therefore we created banks and banks created Fiat.
• 1:12:49
  I think, you know the scaling limitations of Bitcoin are
• 1:12:54
  tempting people into these digital banks of course, like a,
• 1:12:57
  you know, liquid as a digital bank vitamins or a digital bank
• 1:13:00
  and that's going to create digital shit coins and and
• 1:13:02
  that's already part of the E Cash Act.
• 1:13:05
  We see Democrats pushing, you know, on Washington.
• 1:13:08
  I think the next Federal Reserve note will be something like an E
• 1:13:11
  Cash and that there's a lot of effort going into trying to get
• 1:13:15
  this E cash infrastructure into our, you know, kind of Trojan
• 1:13:18
  into our Lightning and Bitcoin infrastructure and we need to
• 1:13:22
  fight that. I think that's imperative if
• 1:13:25
  we're gonna keep the banks out of payment processing or at
• 1:13:27
  least give ourselves the option to keep them out of payment
• 1:13:30
  processing. We need to have family level
• 1:13:33
  custody. Bitcoin can scale to that and
• 1:13:36
  that's we're not even approaching the bounds of
• 1:13:39
  Bitcoin scale. But if we look at it that way,
• 1:13:41
  people have to throw up these 7 billion people on earth numbers
• 1:13:44
  to make an anti scaling case for Bitcoin.
• 1:13:47
  But that's just not the reality today.
• 1:13:49
  I don't think it will be in the future.
• 1:13:51
  So if we can get custody, give people the tools to avoid those
• 1:13:56
  digital banks, Bitcoin will be better off for it.
• 1:13:59
  Yeah, obviously 21,000,000 is the most important thing, but
• 1:14:03
  you need to be able to transact that 21 million for it to have
• 1:14:06
  value. So I'm trying to raise the
• 1:14:09
  ceiling there as much as possible 100% man and and like
• 1:14:12
  I. Said earlier.
• 1:14:13
  We're honored to have you, you know, on our side in the
• 1:14:16
  trenches. Maybe you're in the trench far
• 1:14:18
  away from us. We're on the media trench,
• 1:14:20
  you're in the lightning trench, But we're still in the same
• 1:14:22
  trench. We're still on the same side.
• 1:14:24
  And it's an honor to have builders like yourself really
• 1:14:27
  trying to tackle this very difficult issue.
• 1:14:31
  But I think once we tackle it, once we get over this hill, so
• 1:14:34
  to speak, I just, you know, I see good things in our future
• 1:14:38
  for sure. Anyways, Opti, you have any.
• 1:14:40
  Yeah, yeah. Just those and thoughts.
• 1:14:41
  Yeah, I just kind of want to go. Through this demo real quick
• 1:14:44
  with you, Justin, let's just, I don't know, highlight a few
• 1:14:47
  things going on here so the people know exactly what they're
• 1:14:50
  downloading. Sure.
• 1:14:52
  So if you have to. Set the receive screen real 1st
• 1:14:54
  and now you you opened up this wallet and you were able to just
• 1:14:58
  hit continue and that connected to my note over noster and what
• 1:15:04
  my note is giving you is it's giving you an Ln URL.
• 1:15:06
  We have lightning addresses coming soon.
• 1:15:08
  You can also generate a train address or an invoice address
• 1:15:11
  and you can receive Sats from the get go And if you yeah if
• 1:15:17
  you look at the close the screen, close the receive
• 1:15:21
  screen. This is fairly basic and I'll go
• 1:15:23
  up to the navigation there that print hamburger menu go to
• 1:15:26
  manage sources. This is really where we're going
• 1:15:31
  to change things with lightning and flip lightning on its head.
• 1:15:34
  And a lot of stuff has been done backwards with regards to
• 1:15:37
  lightning. So what this wallet does is it
• 1:15:40
  allows you to add multiple sources.
• 1:15:43
  Now you can see the bootstrap node.
• 1:15:44
  My node is the default because you didn't add one, but you
• 1:15:48
  could add your own. You can hit that add button
• 1:15:49
  right there and what you see is when you add a source that's
• 1:15:53
  looking either for an Ln URL. So that could be an existing
• 1:15:56
  service that could be an Ln bits, you know, could be like I
• 1:15:59
  use the Stacker news example, they have an on URL withdraw,
• 1:16:02
  pretty much any service with on URL withdraw or a lightning
• 1:16:04
  address you can add into this wallet and it'll reflect in your
• 1:16:08
  balance and your transaction history and all those things.
• 1:16:11
  But most importantly is you can choose a trust level, like do I
• 1:16:14
  trust this note a little bit, do I trust it somewhat?
• 1:16:17
  Well, is it like my Uncle Jim, like I don't mind leaving more
• 1:16:20
  stats on there than otherwise? Or is it my note?
• 1:16:23
  And then based on this trust level, we'll have some
• 1:16:26
  automation in the future that you'll be able to tweak and say
• 1:16:29
  don't leave a bunch of Sats on something I don't trust a lot,
• 1:16:33
  repatriate it. Back to my note, if you could
• 1:16:35
  close this and go to the navigation menu again, you can
• 1:16:39
  see the automation screen. The automation home node will
• 1:16:44
  move balances when the cost of doing so is less than 1%.
• 1:16:47
  So maybe you're a creator, you come to Lightning Video.
• 1:16:50
  I hope you will come to Lightning dot video and you know
• 1:16:53
  monetize your digital products that way.
• 1:16:56
  Let's say you earn a good amount of Sats on there.
• 1:16:57
  You don't want to leave it. You don't want to trust that out
• 1:17:00
  there. Well, the wallet could do a
• 1:17:02
  little bit of calculation for you and says hey, you don't have
• 1:17:05
  a channel on your your start nine node.
• 1:17:08
  It would cost half a percent to take custody of this and open a
• 1:17:12
  channel. Let's let's make that move.
• 1:17:14
  We got the consent to make that move so you can start earning
• 1:17:17
  Sats, you know, in a trusted way.
• 1:17:20
  But then automatically when it becomes more than you're
• 1:17:22
  comfortable trusting, have the tools that make it simple for
• 1:17:26
  you to self custody. And then once your self custody,
• 1:17:29
  if you already have your notes set up, it is very trivial to
• 1:17:31
  onboard friends, family, your own customers and you be the be
• 1:17:37
  your own wall of Satoshi. Like Wall of Satoshi.
• 1:17:39
  Like you said, it's it's what you were using and you know the
• 1:17:42
  stuff as well as anybody. I go to lightning conferences as
• 1:17:44
  a lightning developer. I talk to lightning VCs and
• 1:17:47
  other builders and you know go to split a tab.
• 1:17:49
  They're pulling out wall of Satoshi.
• 1:17:51
  So what does it? What does it mean when lightning
• 1:17:53
  VCs and lightning developers are using custodial walls?
• 1:17:56
  That means the lightning walls are not good enough.
• 1:17:58
  We need that better experience and we need to do that in a
• 1:18:03
  local custody way. Not large mints, not large
• 1:18:08
  federations that are just kind of recreating the banks of
• 1:18:11
  before. So ultimately my goal with this
• 1:18:14
  tool is to get as many Uncle Jim's as possible.
• 1:18:18
  And then that way we can have this real permissionless economy
• 1:18:21
  where you start a business by posting on Noster and then you
• 1:18:25
  accept your payments to your Noster profile for, you know,
• 1:18:28
  mowing the lawns or walking dogs or some shit like that.
• 1:18:31
  That you did without any like onboarding getting permission
• 1:18:34
  from the banks to accept payments.
• 1:18:36
  That is, you know, Bitcoin, the savings first and foremost.
• 1:18:40
  But then the next step is that permissionless economy, and that
• 1:18:44
  is the 2 halves of the same hole that we need to really fight
• 1:18:50
  back against the moneyed interest.
• 1:18:51
  All right, 100% well. Guys, wait, wait.
• 1:18:54
  One last question. Nico last.
• 1:18:55
  Question Justin, what is the last two sets you want to leave
• 1:18:59
  with the audience? The last two.
• 1:19:01
  Sets people are not bullish enough on Bitcoin, and it's a
• 1:19:06
  cliche. And it's like, I've been around
• 1:19:07
  a while, man. And every new headline, every
• 1:19:10
  new obituary, every liar that can't make a living selling lies
• 1:19:17
  anymore, they have to come over into the truth of Bitcoin.
• 1:19:20
  I just get more bullish every day.
• 1:19:22
  So as long as I've been in it, if you're you're not bullish
• 1:19:25
  enough, let me tell you that you're not bullish you?
• 1:19:28
  Heard it. You heard it from this OG.
• 1:19:31
  Anyways, I do want to give a very special shout out to our
• 1:19:34
  guest. Justin, thank you so much for
• 1:19:37
  joining us and you know, covering this very, very
• 1:19:40
  important topic. I think it is extremely
• 1:19:42
  important that that that bitcoiners really focus on
• 1:19:46
  building that second layer solution.
• 1:19:48
  So, Justin, thank you so much. And why don't you tell people
• 1:19:52
  where they can find you on the interwebs?
• 1:19:54
  Yeah, best place, right? Now is Twitter.
• 1:19:57
  I'm at shock BTC and from from there you'll be able to find
• 1:20:01
  links to Noster and Telegram and things like that.
• 1:20:04
  So at Shock BTC on Twitter and the wallet is shockwall dot app.
• 1:20:09
  Awesome. Well, thank you so.
• 1:20:10
  Much for joining us on the show. Really, really appreciate it.
• 1:20:13
  Hey guys, that was simply Bitcoin Live on Monday, January
• 1:20:17
  29th. If you enjoyed the show, you
• 1:20:18
  know to do smash that like button, consider subscribing if
• 1:20:21
  you feel like we provided you value.
• 1:20:23
  But the number one thing you could do to help push this
• 1:20:26
  peaceful Bitcoin revolution is Orange Pill.
• 1:20:28
  Your friends and family share Bitcoin contents, Share Bitcoin
• 1:20:32
  culture, Share Bitcoin apps like the one that Justin just shared,
• 1:20:36
  You know? So guys, we are winning.
• 1:20:38
  But let's let's not get lazy. Let's keep on the pressure so
• 1:20:42
  that we stay winning. Anyways, love you guys.
• 1:20:45
  If you enjoyed the show, smash the like button and consider
• 1:20:47
  subscribing. I already said that.
• 1:20:49
  Love you. I'll see you tomorrow for a
• 1:20:50
  brand new episode of Simply Bitcoin Live.
• 1:20:53
  Peace out, everybody.