Latest / Simply Bitcoin / Is China Using Hong Kong Bitcoin ETF to Suppress Price? | EP 980

Transcript

Is China Using Hong Kong Bitcoin ETF to Suppress Price? | EP 980 · Simply Bitcoin

• 0:02
  It's all. Going to zero against Bitcoin.
• 0:06
  It's going up forever. You're against Bitcoin.
• 0:16
  You're against freedom yo. Welcome to Symbol of Bitcoin
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  Live. We're your number one resource
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  for the peaceful Bitcoin revolution.
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  Cover breaking news called Dramatic Warfare will be your
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  guide through the separation of money and state.
• 0:32
  Ladies and gentlemen, welcome to Simply Bitcoin, The most watched
• 0:34
  daily Bitcoin only live show on YouTube.
• 0:37
  Rumble NX. How you guys doing?
• 0:40
  I hope everyone's doing well. Well, the ETF in Hong Kong
• 0:44
  officially launched. You know, they do like that's
• 0:48
  like the, the general gist of it, which is like yeah, the Hong
• 0:50
  Kong ETF launch. But like really what we've been
• 0:53
  saying over the last couple of weeks, it's really the Chinese
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  ETF like China, the CCP is using Hong Kong as a proxy.
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  They're using the, you know the one country, two systems policy.
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  This ETF would not have gotten, would not have been approved
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  without approval from Beijing. So that's that's a huge deal in
• 1:15
  in in my opinion and kind of the case that I'm going to make for
• 1:18
  you guys today is we've seen this huge dump.
• 1:22
  You know, I think we went from like 64 K we're down to 60,501
• 1:27
  and the case that I'm going to say is like is you know is the
• 1:31
  is the is the Bitcoin ETF in Hong Kong and you know the the
• 1:36
  Chinese ETF being used to apply downward cell pressure on
• 1:41
  Bitcoin. This isn't the first time the
• 1:44
  CCP attacked Bitcoin's price. You guys know that I'd love to
• 1:48
  bring this up. Part of the reason that I
• 1:50
  believe we did not hit 100K last cycle was because of the mining
• 1:56
  ban, which coincidentally happened to happen in the middle
• 2:00
  of last of of of Bitcoin's last parabola on the way up, they
• 2:05
  literally banned Bitcoin right right there, right then and
• 2:08
  there. So, you know, now that we're on
• 2:10
  the verge of this next cycle, if history repeats itself, of
• 2:14
  course, you know, is this another a kind of attack vector,
• 2:17
  attack vector? Because look, fundamentally,
• 2:20
  I've been educating and teaching people on Bitcoin and trying to
• 2:24
  evangelize and telling people to just buy Bitcoin for the last
• 2:28
  eight years. And you'd be surprised.
• 2:31
  So many people are just like a Stonewall.
• 2:35
  They just don't care, right? And the biggest convincer, the
• 2:41
  biggest evangelist for like, convincing people is you plant
• 2:46
  the seed you sell. OK.
• 2:47
  Bitcoin's the best savings technology the world has ever
• 2:49
  seen. They don't believe you the first
• 2:51
  time. But you know what really
• 2:53
  convinces them? Number go up?
• 2:55
  Because they remember that time they were told about Bitcoin but
• 2:59
  chose to ignore it. And now that it's 10 times
• 3:02
  higher, they're like, oh wow, you know, maybe that was a good
• 3:06
  idea. And then it becomes a humility
• 3:08
  test in the sense that you got to be OK, that, you know,
• 3:11
  everyone gets the price of Bitcoin at the price they
• 3:14
  deserve, right. So we're going to talk about
• 3:16
  that today And then quick update on this.
• 3:19
  This is a huge legal battle in the US This is the fight for
• 3:22
  self custody. Huge legal case point Center
• 3:25
  came up with an epic response. So shout out to those guys.
• 3:30
  They are the lobbying arm of the Bitcoin and quote UN quote
• 3:34
  crypto industry in Washington DC.
• 3:36
  Also shout out Bitcoin Policy Institute.
• 3:38
  Also shout out the Satoshi Action Fund with Dennis Porter.
• 3:41
  Those are really like the lobbying arms of Bitcoin.
• 3:44
  I think Dennis has done an incredible job on the state
• 3:47
  level, which is incredibly important.
• 3:48
  I might add Bitcoin policy institutes more on the federal
• 3:52
  level and then Coin Center the the most established, it's been
• 3:56
  around the longest there in Washington DC so they're
• 3:59
  obviously on the federal level. They finally had they finally
• 4:01
  came up with a response in regards to the recent arrest of
• 4:06
  the Samurai founders which by the way one of them got released
• 4:10
  on bail and then also the case against tornado cash.
• 4:16
  The tornado cash case is incredibly important because how
• 4:20
  that case is determined is going to set a precedent towards the
• 4:24
  ability of government to put pressure or have any type of
• 4:28
  legal action against open source software in the United States.
• 4:32
  So it's incredibly important to cover all of that.
• 4:35
  So it's going to be a packed show, lots of stuff to cover
• 4:38
  today. And of course, we have a very
• 4:41
  special guest. But let me bring up my legendary
• 4:43
  first, who is not optimistic. Oh, he's optimistic Now I got
• 4:47
  the smile. Optimistic Fields.
• 4:50
  How you doing, brother? I am doing wonderful.
• 4:53
  But I do want to push back on something.
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  You said Nico. What What are you saying?
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  What what kind of what kind of dip is this?
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  This is a dip for Ant. It's only 5%.
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  Well, like, you're you're getting jaded out here, bro.
• 5:05
  You getting scared. This is a this is a this is a
• 5:08
  cakewalk, bro. What are we talking about here?
• 5:11
  We're still above 60 K Everything's good, life's great.
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  But I will talk about this more eventually.
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  But you know, the official official Hong Kong ETF being
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  released and and it's officially trading game theory playing out
• 5:25
  in real time? You'd just love to see it.
• 5:27
  Yeah, game theory would price dumps though.
• 5:29
  It's all right. It's all good.
• 5:30
  Maybe. Maybe it's everyone.
• 5:32
  Remember when the the USETF was going to come out?
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  Everyone's like, oh, the price is going to dip and you know,
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  it's re ripped. Ripped for like 6 months to the
• 5:41
  upside. In anticipation.
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  Well, maybe it's kind of like the old meme of 33 K on
• 5:48
  conference day. It's like the price is going to
• 5:50
  dump on the ETF news. They just didn't tell you which
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  ETF news it was going to be. They didn't know if it was the
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  US one or the Hong Kong 1. So you know, who knows?
• 5:59
  Who knows what's going on? Yeah, so yeah, no one knows who,
• 6:03
  no one knows what's going on, truly.
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  But you can make some pretty good, you can make some, you can
• 6:10
  make some judgement calls. And you know history has been
• 6:13
  pretty spot on on those judgement calls.
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  And I think it has to do a lot with.
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  We make a lot of our our theories just based on the game
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  theory, just based on kind of, yeah, the game theory, man, the
• 6:24
  game theory. And I think this, that's why.
• 6:26
  That's why I believe we've been accurate on a lot of the things
• 6:28
  that we've predicted. Opti, OK, I know that you're
• 6:31
  trashing me. I know that you're saying Nico
• 6:34
  does it different, Does it banter what you're talking
• 6:36
  about? Yeah, we.
• 6:38
  Gotta take them. Off.
• 6:38
  Let's take them off the. Stream.
• 6:40
  But dude, there, I don't know. There's some things going on in
• 6:43
  the background as well. So we're gonna talk about that.
• 6:45
  We're gonna unpack it. Anyways, our guest today is
• 6:47
  Satoshi Coffee Co. How you doing, man?
• 6:50
  Appreciate you joining us on the show today.
• 6:51
  Good. Thanks for having me on the
• 6:53
  show. Excited to be here.
• 6:55
  So excited to go. I know I don't drink coffee
• 6:58
  personally, but I know Opti's a huge coffee lover.
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  What is the Satoshi Coffee Coke. Quick elevator pitch for our
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  Only Company We pride ourselves in fresh roasted coffee.
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  the block, the block number that's on the bag, so you can
• 7:21
  verify our proof of work. That's effing awesome, man.
• 7:24
  Well, I can't wait to hear more about it during the culture
• 7:26
  segment guys, we got a great show for you guys today.
• 7:30
  So sit back, relax and enjoy the ride.
• 7:32
  But before we jump into the show, I do want to get extremely
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• 11:00
  recording. The Bitcoin price is 60,180
• 11:03
  block height. If we go under, if we go to the
• 11:06
  50K's, I'm going to be very upset with Opti block height
• 11:10
  841,536. Every time the price of Bitcoin
• 11:15
  goes down it is opti's fault because he dated Christine
• 11:18
  Lagarde and this is her vengeance on that relationship.
• 11:22
  Anyways, Block height Eight 841,536 Stats Per Dollar 1661
• 11:29
  Market cap 1.19 trillion Bitcoin in Gold 6226.2 oz Bitcoin versus
• 11:37
  Gold Market cap 7.5% Percentage Issued 9093.77% decline from all
• 11:44
  time high 18.4 percent 18.5% off 18.4% that's a that's a pretty
• 11:53
  big dip, bro. All right, you guys should stop
• 11:57
  the show honestly right now. Take advantage of this dip.
• 11:59
  Stack those cheap cheap SAT's 20 almost 20% discount for you guys
• 12:05
  right now. Anyways, I do want to play the
• 12:07
  video The Hong Kong ETF. The the the Bitcoin ETF becomes
• 12:12
  the 1st in Asia to launch a spot Bitcoin ETF.
• 12:16
  Here's part of the presentation. Let's check it out.
• 12:18
  The Bitcoin ETFs. There's about 14 ETFs that have
• 12:22
  hit the market today from three different issuers.
• 12:26
  Those issuers are China Asset Management Company, Harvest
• 12:30
  Global Investment and Hash Key Exchange.
• 12:33
  You can see the countdown has started
• 12:46
  a very big listing ceremony here today and you can see the
• 12:50
  hitting of the gongs. You got three of the issuers on
• 12:52
  stage to mark this momentous occasion.
• 12:55
  As this is, Hong Kong becomes the 1st in Asia to offer retail
• 12:59
  investors a chance to trade cryptocurrency ETF at spot
• 13:03
  prices. Previously, back in 2022, we had
• 13:06
  future Bitcoin and Ether ETFs traded in the Hong Kong market
• 13:10
  since then. So this comes three months after
• 13:13
  the US launched similar ETFs. We've got, of course, 3 issuers
• 13:18
  here, different to the likes of BlackRock and Fidelity.
• 13:23
  Dude, they went full out with the gongs like that was, that
• 13:25
  was. Crimes was loud.
• 13:27
  Dude, like, I was like, holy shit.
• 13:28
  Like, I like, I that was nuts, bro.
• 13:31
  That they, you know, like Wall Street uses bells, you know,
• 13:34
  apparently in Hong Kong they use gongs and it's bad ass.
• 13:38
  Very cool. They, I mean bro gong slash
• 13:40
  bell. I mean, I would go with the
• 13:42
  gong. Gong.
• 13:44
  They really need horns. Optis, optis, exchange would
• 13:50
  would have horns. OK anyways, OK so I can't
• 13:56
  iterate this enough and the reason I can't iterate this
• 13:59
  enough is because I don't see enough people talking about it.
• 14:02
  And when I don't see enough people talking about a specific
• 14:04
  subject, Like for example we were talking about how they're
• 14:10
  going to go after self custody and opti's my witness 'cause he
• 14:13
  has to bear being my Co host every single day that we do the
• 14:18
  show. And literally Opti, did we not
• 14:22
  warn that they were going to go after self custody for like 6
• 14:24
  months? Did we not say that?
• 14:26
  Like how many times did we iterate that message over and
• 14:29
  over again? No one said anything.
• 14:31
  Then what happened last week, right, Like it became clear as
• 14:35
  day that what were they going to do?
• 14:37
  They're going to go after self custody.
• 14:38
  So I'm going to reiterate this because once again, I see the
• 14:44
  pattern, right. And that pattern is you have to
• 14:46
  understand Hong Kong. Yes, technically it's a separate
• 14:51
  city state, but it is fundamentally part of China and
• 14:57
  it is fundamentally controlled by the CCP.
• 15:01
  This is the same CCP that is rolling out a social credit
• 15:06
  system within their country. This is the same CCP that has
• 15:10
  rolled has been the vanguard has has literally been the main
• 15:14
  proponent of the central bank digital currency system.
• 15:17
  This is the same CCP that banned Bitcoin and Bitcoin miners
• 15:22
  within their borders. Same CCP that does this, that
• 15:26
  CCP has also right. This is Bloomberg, not Niko's
• 15:31
  wording. Hong Kong's crypto hub ambitions
• 15:35
  when quiet backing from Beijing is an article that we've
• 15:39
  referenced many times on Bloomberg.
• 15:41
  It goes on to say in October. This is referencing last year,
• 15:44
  by the way, Hong Kong rolled out the red carpet for crypto
• 15:47
  businesses to help revitalize the embattled financial hub.
• 15:50
  Signs are now emerging. The push is under the radar,
• 15:53
  backing from Beijing providing impetus for mainland Chinese
• 15:58
  firms to return. Representatives from China's
• 16:01
  liaison office and other officials have been frequent
• 16:04
  guests at the city's crypto gatherings over the past months,
• 16:08
  swapping business cards and WeChat details, said people
• 16:11
  familiar with the matter, who has not to be named, discussing
• 16:14
  private information. The encounters have been
• 16:16
  friendly, with officials checking in on developments,
• 16:20
  asking for reports and in some cases making up making follow up
• 16:25
  calls, the people said. So again, I would say that any
• 16:32
  type of totalitarian government system is by definition an enemy
• 16:38
  of Bitcoin. I don't think they like Bitcoin,
• 16:42
  but at the same time, from a competitive standpoint, if they
• 16:46
  see the United States rolling out an ETF, China would be at a
• 16:52
  severe disadvantage if they didn't have a captured Bitcoin
• 16:58
  product themselves, right? So I think that they were forced
• 17:03
  to roll this out. I don't think that they would
• 17:05
  have done this on their own. And then it kind of questions
• 17:09
  like what is kind of like the what is the, what is the kind of
• 17:15
  strategy behind this. We know that in the past there
• 17:20
  has been a tremendous amount of downward cell pressure on gold
• 17:25
  by the rehypothecation of gold selling paper gold and that puts
• 17:29
  a tremendous amount of cell pressure on the gold market,
• 17:32
  Right, Larry Fink? Not Larry Fink.
• 17:34
  What am I saying? Lawrence Leopard, right, has
• 17:38
  made the case how they've captured the gold gold market.
• 17:42
  This is, this is like known people have talked about this,
• 17:45
  right? We had a simply Bitcoin IRL with
• 17:48
  Caitlin Long and Lawrence Leopard and one of their worries
• 17:52
  with the roll out of the ETFs was the potential
• 17:55
  rehypothecation of it. And when you rehypothecate
• 17:59
  something you but essentially you're set you, you create the
• 18:02
  ability to sell a paper version of that, right.
• 18:05
  That happened with the whole FTX thing where essentially SPF was
• 18:10
  selling Bitcoin even half right. That caused a downward cell
• 18:14
  pressure on the market, but it was all artificial, right?
• 18:17
  People weren't actually selling that Bitcoin, they they were
• 18:19
  just buying paper Bitcoin, right?
• 18:21
  So I am hesitant when I see ACCP approved ETF product just
• 18:33
  because of the history that they eat that the CCP has had with
• 18:37
  Bitcoin so far, right? We know that in this is I always
• 18:42
  talk about this and I don't hear enough people talking about this
• 18:46
  on on Bitcoin Twitter and just in Bitcoin circles in general.
• 18:49
  Bitcoin's had two stress tests in its entire existence.
• 18:55
  Stress test number one was the the fork, the the Bitcoin fork
• 19:02
  and the Bitcoin Cash fork. We look at that in history when
• 19:06
  say, oh, it was obvious Bitcoin was always going to win.
• 19:09
  Trust me, when you were living through that and you saw the
• 19:13
  Bitcoin cash hash rate surpass Bitcoin's hash rate like at
• 19:17
  least two or three times. We know now that it was
• 19:20
  artificial, that Jihan Wu and Rodger were literally setting
• 19:24
  money on fire in order to create that appearance.
• 19:28
  But living through that, like I, people were doubting like, holy
• 19:32
  crap, is this the real Bitcoin now, right?
• 19:37
  Obviously the community spoke up, nodes chose not to choose.
• 19:40
  And you know, we know how that story ended.
• 19:43
  That was stress test #1. And I think it was important in
• 19:47
  the sense that Bitcoin was inevitably going to go to
• 19:50
  through that type of like civil war and it was important to
• 19:53
  survive to to show how hard it is to change or how difficult it
• 20:00
  is to change. Like the four cores were huge,
• 20:02
  right. It was like the largest mining
• 20:04
  manufacturer in the world and some of the most powerful whales
• 20:08
  and and mine Bitcoin companies all coming together to, you
• 20:12
  know, basically want to change the rules of the game, advocate
• 20:15
  for bigger blocks which would further centralized the nodes,
• 20:19
  right? Make it more difficult for
• 20:21
  people to run nodes, increase the resource requirements.
• 20:24
  Which makes it less affordable for people, right?
• 20:27
  Further centralizing Bitcoin and not decentralizing it.
• 20:31
  So that was the first stress test.
• 20:33
  The second stress second stress test, which I literally made my
• 20:38
  opening speech at Unconfiscatable Bitcoin.
• 20:42
  I think it was Unconfiscatable 2023 and I was on a panel with
• 20:45
  Ben Gagnon and a bunch of other notable miners and this was like
• 20:48
  my opening intro because it was the year that it happened.
• 20:52
  And essentially right here it kind of looks like a little
• 20:55
  blip. But what you see is this orange
• 20:57
  line for audio listeners. The orange line, it was at 100.
• 21:02
  I peaked at like 164 extra hashes and the price was roughly
• 21:08
  5358 K and then all of a sudden the price just dropped
• 21:13
  underneath and we went from 63 K all the way down to 29 K So 50%
• 21:20
  downturn. But what a lot of people were
• 21:23
  not talking about is at the same time the hash rate dropped from,
• 21:27
  I think it was 195 at a peak and it dropped to 87 extra hashes.
• 21:33
  So the hash rate literally got cut in half.
• 21:36
  I believe that's why we had that drop from 63 all the way down to
• 21:42
  29. That was literally Bitcoin
• 21:46
  miners in China selling Bitcoin and selling their their hardware
• 21:52
  in order to relocate to more favorable jurisdictions.
• 21:56
  Now we had a happy ending. The hash rate recovered within
• 21:59
  nine months, so did the price, and we kind of had this weird
• 22:03
  kind of double top situation. But I believe that that double
• 22:07
  top was artificial. It was literally caused by an
• 22:11
  attack from a nation state. That being the CCP that attacked
• 22:16
  Bitcoin, attacked the Bitcoin network that caused the price to
• 22:20
  drop. And like I was saying about the
• 22:22
  price, the price is the biggest convincer, one of the some of
• 22:26
  the leaked documents that were coming out of Europe, some of
• 22:29
  the regulators were saying basically saying we can't let
• 22:32
  the price go up, right. The price is what convinces
• 22:36
  people to buy Bitcoin. It's what convinces people to
• 22:39
  like convert. It's like holy crap like this is
• 22:42
  this is the determining factor. The saying is super famous,
• 22:45
  right? You come for the money, you stay
• 22:47
  for the revolution. But you you need to get your
• 22:50
  foot in the door 1st. And that's really what the price
• 22:52
  does. And I believe the price was
• 22:54
  attacked. And who was it attacked by?
• 22:57
  The CCP. Now this could be a total
• 22:59
  coincidence, but the same day that the Hong Kong AK, the
• 23:05
  Chinese ETF got approved, we saw net outflows on the first day of
• 23:10
  trading. We dumped from 64K to 60K,
• 23:15
  $60,454 where we're currently sitting.
• 23:19
  So you know, forgive me if I am skeptical, I'm, I've already was
• 23:24
  kind of skeptical of of the American ETFs, but like you
• 23:32
  know, now you literally have it. We know the regulatory
• 23:36
  environment in the US. Like we know that there are
• 23:40
  elements of the US government that aren't friendly towards
• 23:43
  Bitcoin. Like we can identify them,
• 23:45
  right? We have Elizabeth Warren and Co
• 23:48
  We have part of the legacy corporate media we have and
• 23:52
  again we're apolitical and simply Bitcoin.
• 23:54
  We don't need left, right, Democrat, Republican.
• 23:56
  We're Party of Orange versus Party of Green.
• 23:58
  We know for a fact the Bite administration is extremely
• 24:01
  hostile towards the industry, right?
• 24:04
  But because it's quote UN quote and I know a lot of bitcoiners
• 24:07
  are going to give me shit for this because it's a democracy,
• 24:10
  right? There is some type of mechanism
• 24:12
  in order to take the people in power out of power and elect
• 24:17
  people that are more pro Bitcoin.
• 24:19
  And you're starting to see this right when you have candidates
• 24:22
  on both sides like RFK Junior and Vivek Ramaswamy and Ron
• 24:27
  DeSantis who were literally in second or third place in their
• 24:31
  respective parties for the presidential candidacy
• 24:35
  advocating for protecting the rights of bitcoiners and being
• 24:39
  anti CBDC. Ladies and gentlemen, we're
• 24:41
  making progress and by 2028 I'm calling it right now, it's going
• 24:45
  to be unviable for you to be an anti Bitcoin politician in the
• 24:51
  United States, right? In my humble opinion, just
• 24:54
  because of the percentage of the population that is holding
• 24:56
  Bitcoin and actively benefiting from NGU.
• 24:59
  Now in China however, there is no self correcting mechanism.
• 25:04
  It is a totalitarian state and I don't want to get into a lot of
• 25:09
  the details, but I'll just put it nicely and say that the CCP
• 25:14
  doesn't exactly have the cleanest track record of
• 25:17
  treating their citizens, to put it very nicely.
• 25:21
  So I am skeptical when I see ACCP controlled Bitcoin ETF and
• 25:28
  what that could potentially mean for the Bitcoin price.
• 25:33
  Now does this have anything to do with the revolution?
• 25:35
  Absolutely not. Revolution is a self, self
• 25:39
  custody is the revolution. But you know, I wouldn't be
• 25:42
  surprised dude, if they pulled, you know, a China, China mining
• 25:48
  ban attack on the price. Two point O if Bitcoin repeats
• 25:53
  its history and we start running up, you know, exactly a year
• 25:58
  from now, usually 12 to 12 to 16 months after the having, usually
• 26:02
  when the price starts going parabolic, I wouldn't be
• 26:05
  surprised dude like Opti. I would not be surprised if they
• 26:08
  use that ETF to put a tremendous amount of cell pressure on
• 26:12
  Bitcoin and just cut this bull market short.
• 26:16
  I I would not be surprised. Maybe I'm seeing things that are
• 26:19
  not there, but you know, this isn't exactly, you know, this
• 26:25
  machine, this bureaucracy, this government doesn't exactly have
• 26:28
  the best track record for it, My humble opinion, Maybe I'm being
• 26:32
  paranoid. Maybe I'm being seeing, maybe
• 26:34
  I'm seeing things that are not there, but uh, yeah, that's my
• 26:37
  take. Anyways, Opti, what's your take?
• 26:39
  Yeah. Well, I mean, doubling down on
• 26:41
  what you said, I, I'd actually kind of like to see it happen
• 26:44
  because then it would just kind of further prove that they do
• 26:47
  not control Bitcoin. And so it'd be funny for them to
• 26:50
  play Fiat games and just get absolutely wrecked.
• 26:52
  But I think it's, uh Barry telling that we got the ETFs
• 26:57
  approved, especially in the US and then the attacks on self
• 27:01
  custody and now we're seeing the Hong Kong ETF approved.
• 27:04
  And so we know that this is what happened with ETS.
• 27:06
  We know that once they can issue paper that that's how they
• 27:10
  manipulate the price. And so I I'd love to see them
• 27:13
  try to manipulate the price, because I I really do believe
• 27:16
  that after a certain point, they're just not going to be
• 27:18
  able to manipulate the price anymore.
• 27:19
  Once enough people are holding Bitcoin, once enough people
• 27:21
  understand Bitcoin and they have their Bitcoin into custody and
• 27:24
  it's out of these compromise or what, what's the, what do you
• 27:28
  always say about the ETS? What do you call it?
• 27:29
  Capture the capture once they once they try to mess with the
• 27:34
  quote, UN quote captured Bitcoin.
• 27:36
  And most people understand what they're holding and why they
• 27:39
  hold it then I think that's when the games really begin and
• 27:42
  that's when we truly understand the power that is Bitcoin.
• 27:46
  And so you know I'd love to see this happen.
• 27:48
  Obviously be bad for the price it it, it definitely would be
• 27:51
  some short term pain but in the long run I think it would be a
• 27:55
  very beneficial I I was going to say cage match, a very
• 27:59
  beneficial cage match in regards to who actually is in control of
• 28:04
  the Bitcoin price and we know you know the price is is
• 28:08
  definitely right now it's all edge cases because people are
• 28:11
  trading the Bitcoin and the traders on the markets, they're
• 28:13
  the ones that move the price up and down.
• 28:15
  But once most people understand what they're holding and they
• 28:18
  hold it in cold storage I'm very open to seeing how this actually
• 28:23
  plays out long term. But again, I think the real
• 28:27
  signal here is the game theory that's playing out the fact now
• 28:31
  that we have two competing at least quote UN quote, competing
• 28:35
  systems with Bitcoin ETFs. Again, I think this is when the
• 28:39
  games really start to play out. Because hey, everyone knows, at
• 28:42
  least in the US, the big boogeyman is either China or
• 28:45
  Russia. And now that they have their own
• 28:47
  Bitcoin ETF and the free market of money can actually get into
• 28:51
  full force, I think it's going to be very interesting to see
• 28:54
  what this does with the price. Will there be a concerted effort
• 28:57
  to suppress the Bitcoin price? Who knows?
• 28:59
  All it takes is for one nation to be like, yeah, you know what,
• 29:02
  we're going to just let this rip and you guys can try to
• 29:06
  manipulate the price, but you're going to get absolutely wrecked.
• 29:08
  So again, I can't wait to see. I'm going to use the term the
• 29:12
  Wall Street games play out. But of course this is a global
• 29:15
  game being played out and it's happening on the free market of
• 29:18
  money. So again, I think in short term
• 29:21
  it'd be bad for the price. Obviously it we well, depends
• 29:25
  how you look at it. You know, we do know that the
• 29:28
  price is what usually makes people FOMO into Bitcoin, but
• 29:31
  for all of its bitcoins, it just means we get some cheap sets for
• 29:33
  a long time. So that's hey man, it's win win.
• 29:36
  Everything's good for Bitcoin here, Nico.
• 29:40
  Yeah, 100%. And I do want to give a shout
• 29:43
  out to the Super chat. Will M Super chat.
• 29:46
  Together we will manifest what we want team together, everyone
• 29:50
  achieves more. Absolutely.
• 29:51
  I mean, like, Bitcoin. Is this like, just man, how do
• 29:56
  you say it? It's like we're all individuals,
• 29:59
  but we're all working together because we all have aligned
• 30:01
  incentives. I'm gonna say it like that.
• 30:04
  Anyways, Satoshi Coffee Co What's up, dude?
• 30:07
  What's your take on all this? Are we seeing, are we being
• 30:09
  paranoid? I love Opti's optimistic take
• 30:12
  that we don't call them optimistic yields for no reason,
• 30:14
  right? Saying bring it on.
• 30:17
  CCP attack the Bitcoin price. I'll stay poor for 5-10 more
• 30:22
  years. Fine.
• 30:23
  I want to extend my suffering but and our suffering.
• 30:29
  But okay, very optimistic. Opti's like bring it on.
• 30:33
  I'm here to win. What's your take on this?
• 30:36
  Satoshi Coffee Co. Well, my take, first of all
• 30:38
  they're they're a big, they're a big tea country, right.
• 30:41
  So they they don't, they don't do coffee that's that's my
• 30:43
  number one take #2. You know I I love when the price
• 30:47
  dips because I have to raise prices for all the clubs.
• 30:50
  So I hate to do it, but the price has been going up on our
• 30:54
  website. So it's been, it's been dipping
• 30:56
  for the last 18 months and finally we're able to raise
• 30:58
  prices. So building a bear market,
• 31:00
  that's what they say. Oh man, Jude.
• 31:04
  To answer your question, I I I don't think it's much different.
• 31:06
  At the end of the day, you know you've got, you've got people
• 31:08
  that that have their hands you know controlling the strings in
• 31:11
  a financial market and even though bitcoins on chain and and
• 31:14
  you can you can verify and validate things there's still
• 31:17
  ways to manipulate it. We know this so you know we'll
• 31:20
  see what happens. I think at the end of the day
• 31:21
  everybody has to zoom out again when the price is down, you
• 31:25
  stack more stats, the price is up, your stacks worth more.
• 31:28
  That's just, that's just volatility, one O 1 and I think
• 31:31
  anybody that's been in Bitcoin longer than two or three or four
• 31:33
  years knows that appreciates it and you know it is what it is.
• 31:38
  Yeah, absolutely, 100%, yeah. And I agree.
• 31:40
  I agree. And I think as as it becomes a
• 31:42
  larger asset like not expecting that manipulation even from
• 31:46
  nation states, it's naive. If Bitcoin can't survive this
• 31:49
  like I I I think Opti was referring to than it is in the
• 31:53
  thing that we think it is. But you know, I think it will.
• 31:55
  It always does, right? Bitcoin's the honey badger.
• 31:57
  Honey badger does not care. It might get beaten down a
• 32:00
  little bit, might get set back, but you're not going to make it
• 32:03
  go away. I 100% agree anyways.
• 32:06
  Also I want to give a shout out to anyone watching We got
• 32:10
  another super note that's just yellow.
• 32:14
  Why am I seeing different things?
• 32:15
  Oh, because in restream it's blue.
• 32:17
  Anyways, I do want to give a shout out to everyone watching
• 32:19
  us on YouTube. If you're in showing enjoying
• 32:21
  the show, make sure to smash that like button.
• 32:23
  We're almost at a no, we just hit 100 likes and shout out to
• 32:26
  our Rumble audience as well. Thank you for Rumble for
• 32:29
  verifying us. We're officially streaming from
• 32:31
  the Simply Space Bitcoin channel.
• 32:35
  It's verified so you could find us on Rumble.
• 32:37
  We're almost at 2400 followers and shout out to everyone
• 32:41
  watching us on X, formerly known as Twitter.
• 32:44
  We appreciate the Twitter audience as well.
• 32:46
  So if you guys are enjoying show so far, make sure to smash that
• 32:49
  like button. Leave a comment really helps
• 32:51
  with the algos and helps push the orange signal forward.
• 32:55
  Anyways, guys, no more delay. Let's jump straight into the
• 32:58
  news. We have a lot to talk about
• 32:59
  today. Let's check it out.
• 33:05
  The Daily News. I want to give a shout out to
• 33:09
  our foundation devices. It's self custody done mate.
• 33:12
  They built a premium grade hardware wallet called Passport
• 33:16
  right here in the US. It's fully open source and
• 33:19
  verifiable. It's the most intuitive Bitcoin
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• 33:28
  moment you pick it up. Get your Bitcoin off exchanges
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• 33:37
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• 33:44
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• 33:48
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• 33:52
  craft premium grade materials. If you're thinking about getting
• 33:55
  your Bitcoin off exchange changes, this is the one for
• 33:58
  you. Check out the passport link in
• 34:00
  the show notes below to learn more.
• 34:03
  All right everybody, you do want to take self custody of your
• 34:07
  Bitcoin and one of the best ways to do it, Well, the way to do it
• 34:11
  is you got to get yourself a Bitcoin hardware wallet.
• 34:14
  Obviously we recommend our sponsor Foundation Passport by
• 34:18
  Foundation devices. Completely open source,
• 34:20
  beautiful design, extremely easy to use.
• 34:22
  Look at that back and if you pair it up with the Envoy app,
• 34:27
  it's makes it so incredibly easy to spend your Bitcoin from cold
• 34:33
  storage. I experienced this, I know Opti
• 34:36
  experienced this and he was like, yo Nico, this is nuts.
• 34:40
  So guys, get yourself a passport by foundation devices.
• 34:43
  It makes it so easy to not only cold storage your Bitcoin, but
• 34:47
  spend that Bitcoin from cold storage for whatever reason
• 34:50
  you're spending your Bitcoin, but you shouldn't.
• 34:51
  But you know if you're in a pickle or you know you get to
• 34:54
  the stack that you want to that you that you want to and you
• 34:57
  want to spend your Bitcoin one day OK, you know get your
• 35:01
  passports exactly. Anyways, that's a cute phone.
• 35:05
  Yeah dude it honestly. And it and it has like the like
• 35:09
  the you know the old Nokia keyboard but dude like the for
• 35:13
  like a regular hardware wallet recovering your seed phrase
• 35:16
  takes so long. But with this thing like you'll
• 35:18
  literally do in like 5-10 minutes.
• 35:20
  It's it's awesome guys. I can't recommend it enough
• 35:22
  anyways, so a quick update. Samurai Wallet Co founder Kian
• 35:27
  Rodriguez pleads not guilty and he was released on a $1 million
• 35:32
  bond. Now no legal expert, and I'm not
• 35:35
  gonna pretend I am, but usually, usually when the crime is so
• 35:42
  severe, they don't give, they don't release people on bond at
• 35:48
  all, right. So I mean that's interesting,
• 35:53
  especially when they're trying to make examples of people like
• 35:56
  Ross Ulbrich for example, Julian Assange.
• 36:00
  Like when it's that level of, you know, of of law fair from
• 36:05
  the government they don't release you on bond, period.
• 36:08
  So, you know, I know they release SBF, but they released,
• 36:14
  you know the samurai wallet guy, which is pretty good.
• 36:16
  I mean, the situation is terrible, but honestly surprised
• 36:20
  me. So he remains in house arrest in
• 36:23
  Pennsylvania until his travel, until his trial, Coin desk
• 36:27
  reports. Here's some quick facts about
• 36:29
  it, and then we'll connect the dots with the coin center
• 36:32
  report, which is incredibly important as well.
• 36:35
  So Samurai Wallet cofounder Kean Rodriguez pleaded not guilty to
• 36:38
  two criminal charges tied to creating and marketing the
• 36:41
  privacy focus, Bitcoin wallet and coin join tools in a
• 36:45
  Manhattan courtroom on Monday. Rodriguez was initially arrested
• 36:48
  at approximately 6:00 AM at his home in Harmony, PA on April
• 36:53
  24th. A Pennsylvania judge
• 36:55
  subsequently released him on a $25,000 bond and ordered him to
• 37:00
  appear before a Magistrate Judge in the Southern District of New
• 37:03
  York on Monday morning. Today, the judge agreed to
• 37:05
  release Rodriguez on a $1 million bond, accepting the
• 37:09
  conditions outlined in a bail package that both the federal
• 37:12
  prosecutors and Rodriguez lawyers had agreed upon.
• 37:15
  Other than traveling to and from court proceedings, he will
• 37:18
  remain at home and will be monitored by location tracking
• 37:21
  technology Rodriguez, so he's going to wear an ankle bracelet.
• 37:24
  Rodriguez next hearing will be in Manhattan on May 14th at 2:00
• 37:29
  PM in front of District District Judge Richard Berman.
• 37:34
  Now, this is an incredibly important case in the United
• 37:38
  States specifically because what I what I what I see this leading
• 37:46
  to. First of all, this is the
• 37:48
  demonization and the criminalization of privacy in
• 37:50
  the United States. We have to remember that Samurai
• 37:53
  and Coinjoin, the vast majority of people that were using those
• 37:58
  two services were not connected to illicit finance, illicit
• 38:02
  activities. I think.
• 38:04
  I think in Samurai, the last time I saw the numbers, it's
• 38:06
  like 95%. The government has taken the
• 38:10
  stands and you've heard this rhetoric coming out of Elizabeth
• 38:13
  Warren that Oh my God, Bitcoin is connected to illicit finance.
• 38:18
  We as Bitcoiners, as a community, we have to beat
• 38:21
  literally the battle drums and scream from the rooftops that
• 38:25
  the vast majority of illicit finance is done using the
• 38:29
  traditional financial system, which has all the existing
• 38:33
  systems of controls and levers that they're proposing are the
• 38:37
  end all be all the fix, all solution to all of this madness,
• 38:41
  right. But that's not true because if
• 38:43
  that were the case, then the vast majority of illicit finance
• 38:46
  wouldn't be done using the traditional financial system,
• 38:48
  right? This has to do with control of
• 38:51
  the money. This has to do with the fact
• 38:54
  that there are no intermediaries to Co opt.
• 38:57
  So that's what it has to do. It has to do with the separation
• 38:59
  of money and state. We've been talking to you about
• 39:02
  that. We've been talking to you guys
• 39:03
  about this for the last week or so.
• 39:06
  Now here's the Coin Center response.
• 39:08
  Been waiting for it. I said it on yesterday's
• 39:10
  episode. I'm like, where is Coin Center's
• 39:11
  response? And it was a really good one.
• 39:14
  It was authored by So bad with bad last names.
• 39:18
  I'm sorry guys. Peter Van Valkenburg.
• 39:21
  I hope I pronounced that correctly.
• 39:22
  If I didn't, I apologize. Anyways, for our audio
• 39:25
  listeners, the headline of the press release by Coin Center
• 39:29
  which again function as the Bitcoin and crypto lobbying arm
• 39:33
  in the Imperial City AKA Washington DC.
• 39:36
  The headline is of the blog is DO JS new stance on crypto
• 39:40
  wallets is a Threat to liberty and the rule of Law.
• 39:43
  Sudden DOJ charges against non custodial wallet developers
• 39:47
  challenge long standing U.S. policy on money transmission.
• 39:51
  It is regulation by criminal enforcement.
• 39:54
  It has been the clear and consistent policy of the US
• 39:57
  government since at least 2013 that cryptocurrency wallet
• 40:01
  developers and the users of those wallets are not money
• 40:04
  translate emitters. So it has come as quite a
• 40:08
  surprise that the Department of Justice is suddenly intent on
• 40:11
  charging wallet developers criminally for unlicensed money
• 40:15
  transmission, even if they exercise no actual control over
• 40:20
  the assets their users choose to secure with their software.
• 40:24
  This is an insidious development, that is, that
• 40:27
  appears to be nothing less than regulation by criminal
• 40:30
  enforcement. Now those words are really
• 40:33
  important. What are they trying to do?
• 40:36
  They're basically saying, OK, they're gonna start with
• 40:38
  privacy, they're gonna start with wallets like Samurai.
• 40:43
  But who's to say in four to five years, Sparrow wallet, Electrum
• 40:49
  Blue Wallet? You guys are unlicensed money
• 40:53
  transmitters. That's the precedent they're
• 40:56
  trying to set. That's what they're trying to
• 40:59
  do, right? And again, what's really effed
• 41:02
  up about this is that they're not doing this via the
• 41:05
  legislative process. They're doing this via
• 41:09
  enforcement, via law. Fair, right.
• 41:13
  They're not doing this via legislation.
• 41:18
  Do we what? What type, what type of country
• 41:20
  do we live in, in the US? That's a very important
• 41:22
  question, right? Anyways, federal Produce
• 41:25
  prosecutors have put forward this unprecedented
• 41:28
  interpretation of money transmission law into two recent
• 41:31
  cases, the April 26th unsealed Samurai wallet indictment and
• 41:36
  the DO JS opposition to Romaine Storm's motion to dismiss and
• 41:41
  suppress evidence in the tornado cash case, which was published
• 41:44
  the same day. Is that a coincidence?
• 41:47
  No, it was not a coincidence. We told you guys, we told you
• 41:51
  guys when tornado cash was happening, what that was going
• 41:54
  to lead to. And of course they set the
• 41:56
  precedent with tornado cash. Coin center lost a lawsuit less
• 42:00
  than a year later. They they charged the samurai
• 42:03
  guys and locked them in a box. And mind you, these two things,
• 42:08
  the motion to dismiss, the suppressing the evidence, the
• 42:10
  indictment all was published the same day.
• 42:12
  Do you think it's still a coincidence?
• 42:14
  Do you not see the tactics that they're trying to to use and
• 42:18
  again, circumventing the legislative process, which is
• 42:21
  how bills are actually and laws are actually supposed to be
• 42:24
  passed in this country Simultaneously, the FBI issued a
• 42:27
  warning to crypto wallet users suggesting that they may lose
• 42:30
  their funds due to criminal criminal seizures and
• 42:34
  investigations if they don't move them to a regulated entity.
• 42:38
  You get where I'm going with this, right?
• 42:40
  Unhosted bad. Unhosted very bad.
• 42:43
  We read you Jack Mahler's mom's tweet where she literally said
• 42:48
  how the IRS reacted negatively and suspiciously when she said
• 42:53
  she self custodied her Bitcoin, right?
• 42:55
  This is what it's all about. They want to go after self
• 42:58
  custody. Why?
• 42:59
  Self custody is the revolution moves the balance of power from
• 43:03
  the individual, I mean from the state to the individual.
• 43:06
  It is hard to know at this point if this is a deliberate attempt
• 43:10
  to abruptly change long established policy through
• 43:14
  criminal enforcement. Now they have to say that, but
• 43:17
  what we're going to say it's simply Bitcoin.
• 43:19
  And you know, I I was sitting on the fence for a while shout out
• 43:22
  to Opti, he did not hold his punches.
• 43:24
  He's like they're doing this on purpose.
• 43:27
  I believe that they're 100% using criminal enforcement to
• 43:33
  achieve a certain political end goal.
• 43:35
  I know they can't say that, but that's my opinion.
• 43:38
  After covering this for more than a year anyways, it goes on
• 43:41
  to say, but if this is a significant disconnect between
• 43:46
  the Department of Justice or infants, and either way, this is
• 43:50
  a disaster for the rule of law, due process, rights for the
• 43:52
  accused, and our fundamental fundamental freedoms of freedoms
• 43:56
  of speech and privacy. Here's a brief review of
• 43:59
  existing money transmission policy, a detailed summary of
• 44:03
  the recent events, and some preliminary thoughts and how we
• 44:07
  fight back. So obviously we don't for the
• 44:10
  sake of time, we don't have time to go through the entire thing,
• 44:13
  but I hope we laid it out for you guys.
• 44:15
  We're going to put this in the live chat and also in the video
• 44:18
  description. If you guys want to take a look
• 44:20
  at this entire presentation from Coin Center, I did.
• 44:23
  I highly recommend that you do. Your most important weapon is to
• 44:27
  stay informed with the truth. So you can be active and you can
• 44:31
  take agency and you can take action in this.
• 44:34
  Because what they're relying on is for people to be uninformed
• 44:38
  on the matter. Because if they really had the
• 44:41
  popular support of the people, they wouldn't be doing, they
• 44:45
  wouldn't be using law fair, they wouldn't be using criminal
• 44:48
  enforcement. They would be trying to pass
• 44:52
  legislation, but they can't do that.
• 44:54
  So what are they using? They're going directly to the
• 44:57
  DOJ Biden administration executive action, trying to make
• 45:02
  examples of people setting a precedent in law.
• 45:06
  So therefore, you know, they can escalate from there.
• 45:08
  What they're doing is a slow creep.
• 45:10
  I was on the fence when they first started doing this.
• 45:13
  I was like, no way. They're just not informed on the
• 45:15
  matter. And Opti just ripped his shirt
• 45:17
  and he's like, no, they're going after us.
• 45:20
  I don't trust them. And he was 100% fucking right on
• 45:23
  the issue. And I'm at that point where like
• 45:26
  this isn't just uninformed decisions.
• 45:29
  Like the Biden administration releasing multiple reports
• 45:34
  attacking Bitcoin, advocating for central bank digital
• 45:37
  currencies, the 30% mining tax. The bill that is currently in in
• 45:43
  in Congress has 20 senators signed up, most of them
• 45:47
  Democrats, some Republicans. That would be a de facto ban on
• 45:51
  Bitcoin mining within the country.
• 45:53
  And again, they don't have any justifications for any of this,
• 45:56
  right? Like why are Bitcoin earners tax
• 45:59
  30% and the rest of the industry?
• 46:04
  You know anyone else like a a toaster or a video game?
• 46:08
  How come they don't have a 30% tax?
• 46:10
  Well, because they don't enable the separation of money in
• 46:12
  state. And then shout out to the
• 46:15
  Bitcoin Senator Cynthia Lummus. Exactly.
• 46:17
  Hashtag, leave my toasters alone.
• 46:19
  Shout out to the Bitcoin Senator Cynthia Lummus where at the
• 46:23
  Bitcoin Policy Institute, she said it herself.
• 46:26
  She's like, there are people in Washington, DC that cannot
• 46:32
  comprehend a world where they don't have control of the money,
• 46:38
  that that's what it fundamentally comes down to,
• 46:41
  right? So all these laws, all the, all
• 46:44
  the things that they're doing, you have to boil it down to that
• 46:48
  foundation. Don't pay attention to the the
• 46:52
  bells and whistles that they're trying.
• 46:53
  It's like, oh, this is about money laundering.
• 46:55
  This is about criminal enforcement.
• 46:57
  It's like, OK, so the banks get fines and we get locked in a
• 47:00
  box, right? Like, it's like rules for thee
• 47:04
  but not for me, right? They're they're operating by a
• 47:06
  whole different set of rules than they expect the rest of the
• 47:09
  populace to operate under. So again, I think that plays to
• 47:14
  our advantage here. We just have to highlight it and
• 47:16
  we just have to inform the masses on it.
• 47:18
  Because if enough people are informed on this, if enough
• 47:21
  people are aware of what's going on, then they can't just shove
• 47:25
  this down people's throats. They'd be like, wait a second,
• 47:28
  what's going on here? And make no mistake guys,
• 47:31
  they're on a clock. They are running out of time,
• 47:35
  right? Because as more and more people
• 47:37
  adopt Bitcoin in the United States, their ability to pass
• 47:42
  anti Bitcoin legislation is going to be diminished.
• 47:47
  So a great example of this is the gun lobby in the United
• 47:51
  States try passing a gun law, right?
• 47:54
  Even though there's a huge portion of the population that's
• 47:56
  like super anti gun, you cannot pass a gun law.
• 47:59
  It's like impossible, right? It's very, very difficult to do
• 48:04
  and specifically for an extended period of time.
• 48:06
  But you can't do it. It's impossible.
• 48:08
  Why? Because a significant portion of
• 48:10
  the population owns guns. Now marijuana industry, same
• 48:14
  thing, illegal on a federal level.
• 48:16
  But because a significant portion of the population not
• 48:20
  making an opinion here you know likes marijuana in some states
• 48:26
  it's become decriminalized and it's legal to run certain types
• 48:31
  of of of marijuana businesses even though on the federal level
• 48:34
  it remains illegal. Right.
• 48:36
  So again we win by and and actually Corey Clipson of SWAN
• 48:42
  wrote a wrote a piece about this the race to avoid the war.
• 48:45
  We need an intransigent minority of people in the United States,
• 48:48
  10515% of the population, where they are unmovable on this
• 48:54
  certain issue. They don't bend.
• 48:56
  They're like, listen, it's Bitcoin or slavery.
• 48:58
  Stop fucking around with my money.
• 49:00
  I want to hold unconfiscatable wealth of which you can't
• 49:04
  debase, and that doesn't make me a criminal Opti.
• 49:08
  Yeah well I mean I I totally agree with that last part.
• 49:11
  I want to circle back a little bit.
• 49:13
  You know Nico was saying that I I was ahead of the curve here
• 49:16
  guys. But I I just moved from first
• 49:18
  principles. I just don't trust politicians
• 49:21
  fundamentally. So it just makes life easier.
• 49:23
  I'm I'm I'm just so left side of the bell curve that I transcend
• 49:26
  the bell curve and I end up on the right side.
• 49:28
  So just move from first principles makes life so much
• 49:31
  easier. Anyways, going back a little bit
• 49:33
  to the Samurai news, you know, shouts out to, I think it was
• 49:37
  Keon Rodriguez who got his bail. That's that's awesome.
• 49:41
  Hopefully I'm I'm forgetting the other guy's name.
• 49:44
  I think his last name's Burroughs.
• 49:45
  Hopefully he's also able to get on bail and I really hope that
• 49:49
  this samurai case gets taken up the highest levels and they win
• 49:52
  to prove not only that Bitcoin is speech but that privacy is a
• 49:55
  right and just actually have you know set in precedent that they
• 50:00
  can't come after Bitcoin, Bitcoin businesses and and
• 50:03
  privacy at large. I I think that would be a huge
• 50:05
  win for the Bitcoin space. Obviously we're still in the
• 50:08
  very beginning of this and and we'll be covering this through
• 50:10
  what until it's over basically who which could be a long time.
• 50:13
  So hopefully this all ends up good for them because from what
• 50:17
  I've looked at from what I've saw it seems like they have a
• 50:20
  flimsy case but of course they they you know they make the laws
• 50:24
  and then they bought the the prosecutors and so they can
• 50:27
  probably get away with all kinds of crazy stuff.
• 50:30
  And on the Coin Center article though I do love Coin Center's
• 50:34
  response again I said it yesterday.
• 50:36
  I I'm I'm becoming way black pilled in regards to all of the
• 50:40
  Bitcoin lobbying stuff and all the various groups.
• 50:44
  I I'm kind of leaning towards that they they have very minimal
• 50:48
  effect if at all and though I do understand that lobbying I know
• 50:52
  I know Nico I'm I'm going hard I know I went hard I know I I but
• 50:56
  I I again I'm just getting very black pilled here because I I've
• 51:00
  seen all the money that they've gone.
• 51:02
  I've seen all of the conversations they've had and it
• 51:06
  it had doesn't really be do it doesn't seem like it's doing
• 51:08
  anything. And I'm I'm only going to say
• 51:11
  that because I think the only thing that actually effectuates
• 51:16
  change is by the developer shipping code.
• 51:19
  The only thing that cannot be stopped is the unstoppable code
• 51:23
  and making sure that the products get shipped into
• 51:26
  people's hands like that is what will force their hand is when
• 51:30
  they cannot actually stop this stuff And so until we get to
• 51:34
  that point until there is unstoppable code.
• 51:37
  You know, Bitcoin's an unstoppable network and they can
• 51:39
  do whatever they want to try to stop Bitcoin.
• 51:41
  But we know it's not going to happen.
• 51:43
  And so until these tools are shipped to 1,000,000 and
• 51:48
  billions of people's hands and they realize that they have no
• 51:52
  actual power here, then they're gonna continue to try to
• 51:56
  encroach on our liberties, our freedom, our money.
• 51:59
  And until then, I just don't think that a piece of paper is
• 52:02
  gonna stop this. So I hope the best, and I'm not
• 52:07
  against the lobbying. I understand how our government
• 52:10
  works. You know, all the politicians
• 52:11
  are bought and paid for by the lobbyists.
• 52:13
  So I totally understand the economic incentives here.
• 52:16
  But until the code gets shipped and there is a huge user base of
• 52:22
  people using Bitcoin, I think right now we're just too small
• 52:26
  of an industry. There's just not enough Bitcoin
• 52:28
  holders out there. And until there's millions, 10s
• 52:30
  of millions, hundreds of 1,000,000, billions of people
• 52:32
  holding Bitcoin, then they will truly understand that they have
• 52:35
  no power here. So I'm just kind of on the fence
• 52:40
  right now, Nico, that I just think complying for favor is a
• 52:43
  losing battle. And until enough people are
• 52:46
  holding Bitcoin, then we're in for a battle.
• 52:51
  I think where I'm saying. Yeah, I'm going to take a
• 52:53
  counterpoint on that and just say that I'm a huge fan of David
• 52:59
  Zell and the Bitcoin policy and. I'm not saying anything against
• 53:02
  the people doing it. I'm just saying until enough
• 53:05
  people hold Bitcoin, I just don't think the pieces of paper
• 53:09
  are going to do anything. The politicians don't care about
• 53:11
  the citizens out there. They're literally bought and
• 53:13
  paid for. They'll do whatever they can get
• 53:15
  away with. And I just.
• 53:17
  I just don't think that the paper is going to stop them.
• 53:19
  Mika. But hey, I'm.
• 53:20
  I'm the contrarian here. We'll see you in the.
• 53:22
  Future you were right about, you know, you were right about that
• 53:26
  initial judgment on left side. Of the bell curve.
• 53:29
  Austie, maybe right, right about you.
• 53:30
  You didn't give these people the benefit of the doubt whatsoever.
• 53:33
  But yeah, I mean look like it and it's been obviously a little
• 53:45
  bit frustrating that, you know the coin center lawsuits and and
• 53:50
  that stuff haven't been as effective as you know, we might
• 53:54
  have hoped as a Bitcoin community.
• 53:57
  But I would still say that it's it's good that we do have a
• 54:03
  voice in Washington, DC Clearly that voice needs to become more
• 54:07
  powerful, more influential. So they might not be there yet,
• 54:13
  but you know hopefully in the future Coin Center, Bitcoin
• 54:16
  Policy Institute, Satoshi Action Fund have a little bit more
• 54:21
  influence in in on on the political level, specifically on
• 54:25
  the federal level, which I think we're getting beat up by a 2 by
• 54:28
  4 metaphorically. But on the state level we we've
• 54:33
  had a little bit, we've we've had a little bit more success,
• 54:35
  right. Multiple states have passed the
• 54:39
  right to self custody and extremely pro kind of Bitcoin
• 54:43
  legislation and all that. So yeah, I mean but it it
• 54:46
  definitely has been frustrating Opti, to kind of echo your point
• 54:49
  for sure. And yeah like it it is
• 54:54
  frustrating, right. Because you know like these
• 54:56
  these they they raise a lot of money and then these types of
• 54:59
  things happened. But at the same time it's kind
• 55:02
  of like the administrative state, bro.
• 55:04
  Like they just don't give a flying fuck.
• 55:06
  You know they they don't care. They're like look like we wanna
• 55:09
  we wanna we wanna retain the power over money like that's it.
• 55:13
  Like you know go # sand we don't care if you have a lobbying
• 55:16
  group. So, but again, like like I'm
• 55:20
  glad that they're there and I'm glad that they are putting up a
• 55:23
  flight, a fight. And I'm glad that we at least
• 55:25
  have some people on our side in the swamp, so to speak.
• 55:30
  Anyways, Satoshi Coffee Co want to get your opinion on this.
• 55:34
  What's your take, brother? I get I'm I'm a privacy is the
• 55:38
  right guy. So it's it's super frustrating.
• 55:43
  I don't know. I don't know.
• 55:44
  I don't know what we want to do. I mean at the end of the day, I
• 55:46
  think we've got to engage the government unfortunately it's
• 55:51
  one of those situations where I I agree.
• 55:53
  I think the more bit corners we have and the more bit corners
• 55:57
  that that you know come for the price but stay for the
• 55:59
  revolution is is key. So we can't have people that
• 56:02
  have lettuce hands and the price drops to 60 K and and and all of
• 56:05
  a sudden they're out and then they're they're spinning up some
• 56:07
  other you know crap coin so that that's my take numbers numbers
• 56:13
  have power so the more bitcoins we have the better that is.
• 56:16
  And I think especially if we have people that are are using
• 56:19
  the Bitcoin and and you know actually using it what it was
• 56:22
  for it was a peer-to-peer network right.
• 56:24
  So without a trust intermediary and I think that's that's that's
• 56:27
  what I would like to see the the, the buy and hold is great.
• 56:30
  But I think getting people living in on more of a Bitcoin
• 56:33
  standard would definitely help a lot of situations because you're
• 56:36
  going to have more businesses come on, you're going to have
• 56:37
  the velocity of Bitcoin that increases and then that's a sign
• 56:41
  of a healthy economy, whether it's Fiat or Bitcoin or what
• 56:44
  have you. 100% I also want to really highlight this, this
• 56:52
  comment from Loco since the the situation is why the Texas
• 56:57
  Blockchain Council was created to have informed politicians
• 57:01
  dictating and fighting for proper policy.
• 57:03
  So yeah, I might not completely be on Opti's side where he's
• 57:07
  just like completely jaded F the system.
• 57:10
  Burn it down. You know, Andreas Antonopoulos,
• 57:14
  yesterday's video is like, you know what?
• 57:16
  The millennials, they don't, I didn't care, 'cause they got
• 57:19
  effed and they're just not part of the system.
• 57:21
  So you know what, we're just going to earn in Bitcoin and,
• 57:24
  you know, you guys could shove it, right?
• 57:26
  Maybe I'm a little bit naive, but I I still believe that
• 57:29
  traditional kind of lobbying has some type of positive effects,
• 57:34
  at least on the state level. You can't deny maybe on the
• 57:36
  federal level it hasn't been as effective because I think they
• 57:39
  have the most to lose. But on the state level, they've
• 57:42
  been tremendously successful. All the lobbying efforts like
• 57:44
  you can't deny that Opti. Right now, I'd agree.
• 57:47
  Like on the Dennis Porter's done a great job with the Scissors
• 57:50
  Action Fund and then in Texas, right, Texans become like a
• 57:53
  Mecca for Bitcoin mining. But on the federal level, Yeah,
• 57:56
  bro. Like holy cow.
• 57:58
  We're we're definitely not exactly winning that fight, so
• 58:02
  to speak. So yeah.
• 58:04
  But you know, that's not to say that that's not gonna change in
• 58:07
  the future, but that's been the case so far.
• 58:09
  Hey, well, that's why America's still great because of state's
• 58:12
  powers. So let's let's hope that some
• 58:15
  states really take a stance here.
• 58:17
  I think they will. I think I, I, I'm telling you, I
• 58:19
  think the, the playbook has been made by, by the marijuana
• 58:23
  industry where, you know, you have an entire industry that is
• 58:28
  illegal on the federal level that is thriving in multiple
• 58:32
  U.S. states, right. So, you know, Bitcoin has that
• 58:36
  level of like grassroots in it where like, dude, like you know,
• 58:40
  you like if a percentage of the population is using, I mean you
• 58:43
  see this in China. China's a great example of this,
• 58:46
  right? It's totally legal in in China,
• 58:51
  but there's still a tremendous amount of volume that comes out
• 58:53
  of China and there's still a tremendous amount of hash rate
• 58:56
  that is coming out of China, right.
• 58:58
  So you can't ban Bitcoin. You can only ban yourself from
• 59:00
  Bitcoin. Wait.
• 59:01
  Before we move on though, I I I'm just gonna double down.
• 59:04
  I want this to happen as fast as possible.
• 59:06
  So come after Bitcoin, let's accelerate, Let's get the final
• 59:09
  battle done and then let's just out Hoddle them.
• 59:12
  OK, I'm done. But we do have a super chat all.
• 59:15
  Right. Oh, thank you for the Super
• 59:16
  chat, Zhang. I appreciate it, $20 thanks to
• 59:19
  the Simply Bitcoin team. Well, thank you man.
• 59:21
  Appreciate it. We really, really, really
• 59:23
  appreciate you. Anyways, I do want to give a
• 59:26
  very special shout out to our sponsor of course.
• 59:30
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  only events. And also simply Bitcoin has its
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  own group chat in the orange pull up which you can join.
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  It's a great way to interact with Opti and I.
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  So again, if you don't know bitcoiners around you and you
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  today, scan the QR code or check the link in the video
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  description. All right, everybody, let's hit
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  It's all yours. Let's go.
• 1:01:08
  All right, well, SAT's coffee. I'm going to pull up your
• 1:01:11
  website. But before we get there, why did
• 1:01:14
  you ship a Bitcoin only coffee company?
• 1:01:18
  Well, I went down to Bitcoin 2022 down in Miami and I
• 1:01:21
  thought, I'm going to get a job in Bitcoin.
• 1:01:23
  I was, I was sick of this Fiat rat race.
• 1:01:24
  And so I thought, yeah, it's going to be easy, you know, and
• 1:01:26
  I show up with a resume and on a paper and and people started
• 1:01:30
  laughing at me, right. So anyway, I came back after
• 1:01:33
  that I did some soul searching and I, you know, I love Bitcoin,
• 1:01:35
  I love roasting coffee and it was a it was a bear market and
• 1:01:39
  as the saying goes, you build in a bear market.
• 1:01:41
  So I decided to start it up. It's a business that I knew I
• 1:01:44
  wanted to have consistency and ideally hopefully volume.
• 1:01:48
  So rather than I do roast at home for my personal use.
• 1:01:52
  But I did find a roaster that I went and met, shook my roaster's
• 1:01:56
  hand and you know, basically said, hey, I want to, I want to
• 1:01:59
  create this, this, this brand and I want it to be Bitcoin
• 1:02:03
  only. I wanted to have coffee from El
• 1:02:05
  Salvador because that was a year after Bouquet Laid announced the
• 1:02:08
  Bitcoin legal tender. I wanted to have Ethiopian
• 1:02:12
  coffee because that's the only ETH I recommend.
• 1:02:15
  And then I wanted to have a nice blend and so after meeting the
• 1:02:18
  roaster and then meeting the owner, we came to an agreement
• 1:02:21
  and that was about a year and a half ago.
• 1:02:24
  It was block height 746944, was my first Twitter post saying
• 1:02:29
  we're live and as a result it's been almost almost two years
• 1:02:32
  later and and things have been great.
• 1:02:35
  Love it, man. Love it.
• 1:02:36
  I I do want to hit on something you touched on before the show
• 1:02:38
  and you said Fiat Coffee. Can you explain what that means
• 1:02:42
  to the people out there? Absolutely.
• 1:02:44
  If you think about Fiat in general that that means by
• 1:02:47
  decree, right. So that that's what I feel like
• 1:02:49
  a lot of the coffee that's on the grocery store shelves and
• 1:02:52
  and the coffee that people drink is, is, is, is, is, is out
• 1:02:56
  there. The comment right there, you
• 1:02:58
  know the Arabica beans there, there where where we buy our
• 1:03:01
  coffee, it's it's it's the best beans that you can buy.
• 1:03:04
  It's the best roaster I could find and everything that you see
• 1:03:08
  on the shelf, for an example, Starbucks, their policy on shelf
• 1:03:12
  life is 34 weeks and so that means that basically for eight
• 1:03:16
  months they can keep their coffees on the shelf within
• 1:03:19
  their quality systems that that's ridiculous.
• 1:03:22
  Our ours rarely goes past two weeks of being roasted and
• 1:03:26
  especially when you grind coffee you start to lose a lot of the
• 1:03:29
  flavors immediately. So I always recommend if you
• 1:03:32
  don't have a good grinder to to to grind and if not just buy
• 1:03:37
  from a a fresh roaster and and try to get it as as as close to
• 1:03:41
  roasting as possible so. Love it.
• 1:03:44
  Love it. OK, so to be completely clear to
• 1:03:47
  the whole audience, you are Bitcoin only.
• 1:03:49
  What's the process of them buying coffee from you?
• 1:03:53
  The process is kind of figure out what they want to to
• 1:03:56
  purchase. Like I said, we've got El
• 1:03:57
  Salvador, Ethiopia, then a blend and then it's a matter of of
• 1:04:01
  just figuring out you know which which type you like or El
• 1:04:04
  Salvador is a San Pacho single, single source, It's shade grown
• 1:04:10
  about 925 meters above sea level.
• 1:04:13
  And so it's going to give you some some sweetness, you get a
• 1:04:16
  little bit of floral, little spices and so on.
• 1:04:19
  And because it's from El Salvador, a lot of people really
• 1:04:21
  like that our Ethiopia is, is is a Gucci Berry which is a little
• 1:04:27
  different than than people are used to with Ethiopian coffee.
• 1:04:29
  A lot of times they get that blueberry or you know different
• 1:04:33
  different Berry type strawberry flavors.
• 1:04:35
  We do get that, but we also get a little bit of dark chocolate
• 1:04:38
  in that one that's an Ethiopian heirloom coffee and it's it's
• 1:04:42
  about between 1500 and 1800 meters low sea level.
• 1:04:45
  And then our our Mocha Java blend is the Ethiopian Gucci
• 1:04:48
  Berry and an organic Bali Blue and a lot of people like that.
• 1:04:53
  That's actually what we ship out with.
• 1:04:54
  We have a partner with partnership with Crowd Health.
• 1:04:57
  So somebody in the chat mentioned that they found out
• 1:04:59
  about us with Crowd Health and so they send a bag of our beans
• 1:05:02
  to their members on their birthday month, which is amazing
• 1:05:05
  and we've got a lot of good feedback from that.
• 1:05:07
  So, but once they've identified which coffee they'd like to buy,
• 1:05:11
  the next step is to figure out if they want ground or whole
• 1:05:14
  beans, put the quantity into the cart.
• 1:05:17
  We do offer a sample pack so you can put get all three types and
• 1:05:21
  we've got a couple of different add-ons if they want to.
• 1:05:25
  One that I would highlight is is for a you know probably about
• 1:05:28
  6000 Staffs. So it's a it's a water
• 1:05:31
  supplement that basically you add to to your water and and
• 1:05:35
  because coffee is you know 98% water or what have you you want
• 1:05:38
  to make sure you have really good water that you're brewing
• 1:05:40
  with. So yeah the the the mineral
• 1:05:43
  supplement is good it basically kind of creates a water that
• 1:05:46
  that has the right properties that the coffee snobs around the
• 1:05:49
  world approve. So it's a nice little add on and
• 1:05:52
  and definitely would would think would help help out help help
• 1:05:55
  things out once you get ready to check out.
• 1:05:57
  We've used both lightning and on chain we use BTC pay server
• 1:06:02
  instance and so everything is done with a with a server that
• 1:06:07
  we have a virtual private server that's that's hosted elsewhere
• 1:06:10
  and you know it's it's it's been amazing to see these orders come
• 1:06:14
  in and ship coffee out and make people happy.
• 1:06:17
  I I think we've we've started doing a little bit of a coffee
• 1:06:20
  club now where it's it's kind of like opt in so you tell me how
• 1:06:24
  how much you want what type you want and when you want it and
• 1:06:27
  then we we basically just send you a lightning invoice if
• 1:06:30
  you're if you're good on coffee and you don't want to to pay
• 1:06:34
  anything that that month and you just basically you know reply
• 1:06:37
  with GFY and and we don't ship you anything if you do need
• 1:06:39
  coffee then you pay the invoice and then then we ship it out.
• 1:06:42
  So that's been the big focus. And then we've also been
• 1:06:45
  focusing on meet ups and companies like Crowd Health.
• 1:06:48
  So it's been a fun 2 years and looking forward to the future.
• 1:06:53
  Love it, love it. And I did ask you this before
• 1:06:56
  the show and I think it's a good conversation to have on the
• 1:06:58
  show. As bit corners, we always talk
• 1:07:00
  about the circular economy and you were telling me that you and
• 1:07:06
  I think you said the the coffee bean grower have been arguing
• 1:07:09
  with your supplier to take Bitcoin and then so can we talk
• 1:07:13
  about that a little bit and then also how dealing with volatility
• 1:07:17
  as an entrepreneur works? Yeah, absolutely.
• 1:07:19
  So when I went down to the having party down in El
• 1:07:22
  Salvador, I was finally able to meet my grower.
• 1:07:24
  And so Jorge is a great guy down there.
• 1:07:27
  Torito coffee, if you if you've been down there, he's been
• 1:07:29
  around the coffee scene for a very long time.
• 1:07:31
  His father was in the coffee scene and and and basically he
• 1:07:35
  was one of the first in Bitcoin Beach to have a Bitcoin coffee
• 1:07:39
  bar. So it was a lot of fun meeting
• 1:07:40
  him but we we we talked a lot about just the whole economy
• 1:07:44
  itself because he's an exporter in a roaster in El Salvador.
• 1:07:49
  And So what we talked about doing is is is setting up BTC
• 1:07:51
  Pay server. There's a a plug in that is
• 1:07:54
  called Prism in BTC Pay server and he actually created his own
• 1:07:59
  app as well called Espresso Pay. What we're trying to do is
• 1:08:03
  figure out when someone buys a bag of El Salvador coffee, how
• 1:08:07
  we can put a small percentage of stats that go back to the actual
• 1:08:10
  farmers. So a very cool situation where
• 1:08:13
  we're able to actually give value for value and when someone
• 1:08:16
  buys our coffee from El Salvador that goes back to the root.
• 1:08:19
  But to your point right now there's there's an intermediary
• 1:08:22
  where I have to pay in Fiat and he pays the El Salvador exporter
• 1:08:26
  in Fiat as well. They went to high school
• 1:08:29
  together so they know each other extremely well and and that's
• 1:08:31
  our next our next job is to tackle how can we pay in Bitcoin
• 1:08:36
  so that my coffee being importer can pay the exporter and and and
• 1:08:40
  and reconcile instantaneously in Bitcoin and and eventually get
• 1:08:44
  sats back to the grower as well. In terms of your other question
• 1:08:48
  was about, I forget what. Dealing, dealing with, dealing
• 1:08:52
  with volatility. Yeah, Bitcoin only company
• 1:08:55
  dealing with the volatility. Yeah.
• 1:08:57
  So you know, because this is, it is a side hustle for me.
• 1:09:01
  I'll be completely transparent. You know, I'm basically trying
• 1:09:05
  to stack as many stats as possible, you know, during this
• 1:09:08
  time. So I, I, I everything that comes
• 1:09:11
  in, we appreciate the, the orders and so on, but everything
• 1:09:13
  stays in Bitcoin. So it's not getting you know,
• 1:09:16
  resent out except if unless I'm using some, you know, buying
• 1:09:19
  buying steaks or or buying Maple syrup or soaps or whatever
• 1:09:23
  within the Bitcoin economy, mind Ben Justman's wine.
• 1:09:26
  So that's what I end up using the SAS for for the most part is
• 1:09:30
  trying to keep as many Bitcoin only businesses afloat.
• 1:09:34
  But in terms of the volatility, if you're if you're a Fiat
• 1:09:37
  minded business and you're accepting Bitcoin, volatility is
• 1:09:41
  your friend. Whenever I started the business
• 1:09:44
  almost two years ago, obviously we saw a price that went down
• 1:09:47
  from you know about $45,000 to when I started to about 16 at
• 1:09:51
  the low right at that time the the amount of Sats per bag was
• 1:09:56
  about 70,000. We'll round it up to their
• 1:09:59
  rounded down to 69,000 sats, right.
• 1:10:01
  But at that point you know I was basically selling the same
• 1:10:05
  amount of bags but I was getting triple the the price in Bitcoin
• 1:10:09
  Ever since that low in terms of the the the Bitcoin BTC or the
• 1:10:13
  Bitcoin U.S. dollar price we've we've gradually just have been
• 1:10:17
  lowering our prices in Sats to the consumer.
• 1:10:19
  So right now I think our our bags are about 25,000 Sats and
• 1:10:23
  and so I guess if you're if you're in volatility you want to
• 1:10:27
  sell as much as possible in the in the down market because at
• 1:10:31
  that point you're just basically you know you're you're you're
• 1:10:33
  raking in as many Sats as possible.
• 1:10:35
  If you need to sell for cash flow purposes that's it.
• 1:10:38
  But you know at the end of the day if the if the price goes up
• 1:10:40
  that just helps your stack out. If the price goes down, you get
• 1:10:42
  more Sats per your unit of measure.
• 1:10:44
  The one thing I have had some discussions with about Fiat
• 1:10:48
  companies right now, they're paying anywhere from 3 to 5%
• 1:10:51
  credit card fees. So what what we've had a couple
• 1:10:55
  of good success discussions about is basically taking 3 to
• 1:10:58
  5% of the purchase if it if it comes across in Bitcoin and just
• 1:11:02
  putting that aside, you know basically in this in the cold
• 1:11:05
  storage to never touch again. You can sell the 97% if you if
• 1:11:10
  you need to for Fiat to pay your bills.
• 1:11:12
  But at the end of the day, you know I said if Bitcoin goes to
• 1:11:15
  zero you're not out any money. If it continues to run and
• 1:11:19
  become the the the world's global asset, you basically
• 1:11:22
  just, you know created 3 to 5% of your revenues that that
• 1:11:26
  you've locked away that you are the only one that can ever have
• 1:11:29
  that for basically no, no price because you'd be paying credit
• 1:11:32
  card fees if not and that's resonated well with a lot of
• 1:11:35
  people that have the cash flow that they have to maintain.
• 1:11:38
  But anyway, that's the volatility in my opinion is a
• 1:11:41
  good thing. You just have to figure out how
• 1:11:44
  to manage it based on your own cash flow.
• 1:11:46
  So what you're saying is that you're selling coffee to launch
• 1:11:49
  a speculative attack on the dollar, is that correct?
• 1:11:54
  You're putting words in my mouth, Nico.
• 1:11:55
  Yeah, I love that. I love that I support it.
• 1:12:00
  It's simply Bitcoin fully endorses this product.
• 1:12:03
  Could we do Could you do the thumbs up again?
• 1:12:06
  Yeah, absolutely. I appreciate.
• 1:12:07
  That all right? 11 Quick question for everyone
• 1:12:10
  in the audience. Do you ship everywhere in the
• 1:12:12
  States? Like what's what's the shipping
• 1:12:14
  deal over here? You ship everywhere, The
• 1:12:16
  International or just just stateside?
• 1:12:18
  Yeah, I've, I've shipped everywhere in the world we have
• 1:12:22
  it's it's difficult internationally because you have
• 1:12:24
  to pay the the the tariffs right.
• 1:12:26
  Every government wants their, their, their cuts.
• 1:12:28
  So it it, it makes it a little bit difficult to get outside the
• 1:12:33
  US but in the US it's just based on USPS zones.
• 1:12:37
  So depending we're we're based in North Carolina.
• 1:12:39
  So how far you are from North Carolina, we'll we'll dictate
• 1:12:42
  that typically if it's a further shipment I recommend getting you
• 1:12:47
  know at least two if not three or four or five bags of coffee
• 1:12:50
  because it's incrementally higher that that first shipment
• 1:12:54
  is going to be anywhere from 6 to $8 roughly maybe $11.00 if
• 1:12:58
  you're on the the the West Coast.
• 1:13:00
  But if you add a bag to that there's really no change and so
• 1:13:04
  that that's one way to bring that down.
• 1:13:06
  The the other piece is that the coffee club that I mentioned we
• 1:13:10
  are giving up to 21% back in SAT's if you hit a certain
• 1:13:13
  threshold. So it starts off at 4.20% back,
• 1:13:18
  6.9% back and then eventually if you spend 2.1 million Saps with
• 1:13:22
  us which you know a year and a half ago when we launched was
• 1:13:25
  was not as much coffee but we'll give you 21% back.
• 1:13:28
  The the nice part about that that will definitely cover your
• 1:13:31
  shipping and get you to a price point that's very similar with
• 1:13:34
  with your Fiat coffee from a local roaster.
• 1:13:36
  So hopefully we can continue to grow that.
• 1:13:39
  It helps everybody out with you know trying to have
• 1:13:41
  predictability and and and so on with the supply chain but you
• 1:13:45
  know that's that's that's been the shipping situation for us.
• 1:13:49
  Love it. And and just to clarify here,
• 1:13:51
  you said Fiat coffee twice, so this is that ultra strong
• 1:13:56
  caffeinated coffee is going to get you jacked every single day?
• 1:14:01
  Yeah, this this is this is is actually a delicious coffee.
• 1:14:04
  I think it it actually has more volatile compounds which
• 1:14:08
  basically gives the flavour and things like that than wine.
• 1:14:10
  And so if you have a a fresh roasted coffee and then you
• 1:14:13
  grind it fresh in the morning, it it's going to be a delicious
• 1:14:17
  cup there. There's so many variables with
• 1:14:18
  making coffee too. We're always open to to to
• 1:14:22
  getting DMS for from people to basically say, hey you know,
• 1:14:25
  what should I buy? Should I buy this?
• 1:14:26
  Should I make that, make it with a pour over, should I make it
• 1:14:28
  with a French press and what have you.
• 1:14:30
  And every single technique has a little bit of a variant variance
• 1:14:34
  and variable. So it's almost like a chemistry
• 1:14:36
  experiment every single morning where you can, you know, tweak a
• 1:14:39
  couple of of the variables and get a totally different cup of
• 1:14:42
  coffee. So at the end of the day, coffee
• 1:14:44
  should be nice and sweet for the most part.
• 1:14:48
  You shouldn't have to use milk in it.
• 1:14:50
  You shouldn't have to use cream and and sugar.
• 1:14:52
  But you know, if people do want to do that, that's fine with us
• 1:14:55
  as well. But I don't know, at the end of
• 1:14:57
  the day, it's it's just a very delicious cup of coffee.
• 1:15:00
  I think a lot of people just haven't had that ability to have
• 1:15:02
  fresh coffee in the morning. Love it.
• 1:15:05
  Love it. OK, for the end of the show,
• 1:15:08
  what's the last two Sats you want to leave with the audience?
• 1:15:11
  Sats. Coffee.
• 1:15:11
  It could be about coffee. It could be about life.
• 1:15:14
  It could be about Bitcoin. What's the last message you want
• 1:15:16
  to leave with everyone? Last message, you know, I think
• 1:15:20
  you got to really kind of figure out why you're here in in the
• 1:15:23
  Bitcoin space, right? Is it number go up or the
• 1:15:25
  revolution? If it's revolution, then you got
• 1:15:27
  to get in a Bitcoin economy. You know I think you got to
• 1:15:30
  start start stacking sats but then also using those sats, sats
• 1:15:33
  throughout at a Bitcoin company if if no one ever sold their
• 1:15:37
  Bitcoin ever we wouldn't have a market right.
• 1:15:40
  So you go back to Laszlo and when he when he bought the pizza
• 1:15:43
  that that put a price on Bitcoin at that point let's move
• 1:15:46
  forward. So that's the one thing I think
• 1:15:48
  I leave everybody with is, is once you start thinking in Toshi
• 1:15:51
  and and start thinking in Bitcoin as your as your base
• 1:15:54
  that you're into measure, you know life, just life just just
• 1:15:58
  keeps getting cheaper over over and when you zoom out it, it
• 1:16:02
  just makes life that much better.
• 1:16:04
  So that's what I leave you with. Love it.
• 1:16:06
  OK, one last thing. Migos.
• 1:16:07
  Sorry Sats coffee. Where can people find you?
• 1:16:10
  Someone in the chat asks for the website and for the audio
• 1:16:12
  listeners plug. Plug your website and where and
• 1:16:15
  where you want to lead people to.
• 1:16:17
  Yeah, absolutely. Thanks.
• 1:16:19
  Our website sats dot coffee, SATS dot coffee and then on
• 1:16:24
  social media we're we're at Sats coffee pretty much everywhere.
• 1:16:26
  So anyway, look forward to hopefully having some of your
• 1:16:30
  your guests try us out and thanks for the opportunity to
• 1:16:32
  come on. Thanks for thanks for.
• 1:16:35
  Joining us bro, really, really appreciate it guys.
• 1:16:38
  Go to Sats dot Coffee, that's where you can buy coffee and you
• 1:16:43
  can speculatively attack the dollar by buying coffee.
• 1:16:48
  That's right, go to Sats dot Coffee Support, Satoshi Coffee
• 1:16:52
  Co and really appreciate you joining us on Simply Bitcoin
• 1:16:56
  today. Sounds good.
• 1:16:58
  Thanks for having me. I appreciate it.
• 1:16:59
  Take care. Awesome.
• 1:17:01
  All right guys, that was our show.
• 1:17:02
  I'm your host Nico. It's my legendary Co host
• 1:17:04
  Optimus Fields. If you guys enjoyed the show,
• 1:17:06
  smash the like button. Consider subscribing if you feel
• 1:17:09
  like we provided you value. But the number one thing you
• 1:17:11
  could do to help push the peaceful Bitcoin revolution.
• 1:17:15
  Share Bitcoin content. Share Bitcoin culture yesterday.
• 1:17:18
  Opti, who did we have on yesterday was freaking awesome,
• 1:17:21
  dude. I am completely blanking.
• 1:17:23
  Oh man. Well, listen, we've had people
• 1:17:27
  that lightning goats, all right? Like, you can literally pay to
• 1:17:31
  feed goats with sats. We've brought on coffee
• 1:17:35
  producers like like Satoshi Coffee Co we try to give you.
• 1:17:40
  Oh, I remember. I remember I liked it out.
• 1:17:42
  We had Johnny from Tuttle. Twins.
• 1:17:43
  Tuttle twins exactly like this is guys.
• 1:17:47
  It's not called the culture for no reason, right?
• 1:17:50
  We we try to bring you bitcoiners from all walks of
• 1:17:53
  life. Because if you really want to
• 1:17:55
  win this, we have to change the culture, right?
• 1:17:58
  We have to win over the hearts and minds of individuals.
• 1:18:01
  So that means music, that means media.
• 1:18:03
  That means it means everything. Coffee.
• 1:18:06
  That's part of the culture, right?
• 1:18:08
  So share Bitcoin culture, get that message out there.
• 1:18:11
  And I truly believe it'll bring the world together.
• 1:18:13
  Bitcoin is the great unifier. Fiat is the great divider.
• 1:18:17
  All right guys, love you all. We'll see you tomorrow for brand
• 1:18:20
  new episode of Simply Bitcoin Live.
• 1:18:25
  This episode was brought to you by bitcoinwell.com on a mission
• 1:18:29
  to enable independence.