Latest / Simply Bitcoin / Did Cathie Wood JUST DITCH Her $682k Bitcoin Base Case? | EP 1144

Transcript

Did Cathie Wood JUST DITCH Her $682k Bitcoin Base Case? | EP 1144 · Simply Bitcoin

• 0:00
  Yo, Kathy Wood is famous for her $1.48 million Bitcoin prediction
• 0:08
  for 20-30, but it looks like she's made a tweak to that
• 0:11
  prediction, according to the the latest interview of her.
• 0:15
  On. Bloomberg But before we break
• 0:17
  down all the maths and, you know, check out all the
• 0:20
  receipts, let's check out the clip and then we shall talk
• 0:24
  about it. Do you still sort of see Bitcoin
• 0:28
  really hitting some of those lofty milestones that you've
• 0:30
  talked about before? You know, I mean, 100,000 is
• 0:33
  still a long way from a million. I do kind of wonder how much
• 0:37
  further you think this could actually go.
• 0:40
  Well, what's interesting about Bitcoin today, now that we're
• 0:45
  going to get more regulatory green lights, we're seeing
• 0:49
  institutional investors focus on this new asset class.
• 0:55
  And as they're learning about it, they're saying, wait a
• 0:58
  minute, this new asset class or this component of a new asset
• 1:03
  class, Bitcoin is going to reach 21 million units out there, 21
• 1:09
  million Bitcoin out there at its peak and no more from there on.
• 1:13
  Where are we now? We're already above 19 and a
• 1:17
  half million units. And so if institutional
• 1:21
  investors are looking at this new asset class more seriously
• 1:26
  and Bitcoin is really the first of its kind in a new asset class
• 1:31
  and will be we believe the biggest opportunity of them all,
• 1:36
  they must consider an allocation.
• 1:39
  And so supply, demand, they're doing the arithmetic and we see
• 1:45
  a million to a million and a half by 20-30 that the
• 1:50
  probability of that has increased because of
• 1:52
  institutional. OK.
• 1:53
  So that's six years from now and I understand the supply demand
• 1:56
  dynamics. But Kathy, I'm sure you're also
• 1:58
  very aware of some of the main criticisms that there really is
• 2:00
  no, I guess fundamentals, if you will, at least in the
• 2:03
  traditional sense of how we try to value stocks or or hard
• 2:06
  assets here. So beyond the speculative nature
• 2:09
  of I buy this and someone will buy it for more than me down the
• 2:12
  road, is there anything else there that gooses this beyond
• 2:15
  just that supply demand equation?
• 2:18
  Well, I think it's a very big idea and it's not just
• 2:22
  speculative. It's a global monetary system
• 2:25
  that is rules based. It is private, it is digital, it
• 2:30
  is decentralized and it is backed by the largest computer
• 2:34
  in the world or the largest computing system.
• 2:37
  It's the most secure network in the world.
• 2:40
  So that's that's very important. Gold would be in the same
• 2:45
  category. Gold is a store of value and it
• 2:49
  is fairly scarce. What's interesting in the last
• 2:53
  year with the last having this April, the the increase in
• 2:58
  Bitcoin, the the number of Bitcoin per year, the percentage
• 3:03
  increase dropped to roughly 0.9% per year.
• 3:10
  That is below the 1% long term growth growth in the supply of
• 3:17
  gold. So it is becoming even more
• 3:20
  scarce than gold. And the difference between gold
• 3:24
  and Bitcoin is when the gold price goes up as it has
• 3:28
  production goes up, the rate of increase in the supply goes up.
• 3:33
  That cannot happen with Bitcoin. It is mathematically metered to
• 3:38
  go up now 0.9% per year for the next 4 years and then the supply
• 3:43
  growth will be cut in half again.
• 3:45
  So we think you can use gold as a guide in terms of what this
• 3:50
  asset class is right now at least it's very definitely a
• 3:54
  store of value, a digital store of value and it's.
• 4:00
  So I know, I know what you guys are thinking like Nico, another
• 4:04
  Bitcoin price prediction. You know what has changed?
• 4:08
  But we all have to remember Kathy Wood has an excellent
• 4:11
  track record of calling stocks like Tesla, of course, calling
• 4:15
  Bitcoin way early. I think it was in like 2013,
• 4:19
  2014 where she originally not talked about Bitcoin or invested
• 4:22
  in Bitcoin and. What was really interesting to
• 4:25
  me? Is the fact that she is?
• 4:28
  Changing her bear case, her base case.
• 4:31
  And that's what I want to talk about today.
• 4:32
  That's what. I want to focus on and that's
• 4:34
  the thing that I found interesting about that, that
• 4:37
  interview, right? So when the.
• 4:39
  Reporter asked her, by the way, like, what did did that?
• 4:42
  Reporter not get the memo like this is in 2017, like are we
• 4:47
  still in the era of trying to establish why Bitcoin is is
• 4:50
  valuable? I don't know, I find that funny,
• 4:51
  but any anyhow, we'll get to that in a second.
• 4:54
  She moved her base case, she moved it from, she dropped this
• 5:00
  I think earlier on in the year and or 2023 and she said her
• 5:04
  base case for 2030 was $682,000 per coin.
• 5:10
  In that interview, she's saying her base case is between
• 5:14
  1,000,000 to 1.5, which is 1.5 is actually about 200 or or
• 5:20
  $20,000 or whatever more than her bull case that she made back
• 5:25
  in 2023. Now she glanced as to what her
• 5:30
  reasoning was behind that. Well, it's pretty obvious.
• 5:33
  I mean, we have been covering it for the last couple of weeks on
• 5:36
  simply Bitcoin and I'll just go through some of that, right.
• 5:40
  You have states like Ohio, Pennsylvania, Texas, You have
• 5:47
  you have countries like Brazil, Russia, you have the federal on
• 5:52
  the federal level, you have, you know, a pro Bitcoin
• 5:55
  administration going into the White House, The president of
• 5:58
  the United States or the the ex president and future president
• 6:01
  of the United States. He gets inaugurated January
• 6:03
  20th, promised Bitcoiners that he was going to make a strategic
• 6:07
  Bitcoin reserve or basically not sell Bitcoin.
• 6:09
  And then, of course, you had Senator Cynthia Lummus, the
• 6:11
  Bitcoin senator, take out a bill, right?
• 6:15
  There's a Poly market odds on it right now.
• 6:18
  A lot of things have changed in the last two years or so.
• 6:22
  So yeah, it would make perfect sense why Kathy Wood would raise
• 6:29
  her base case. None of these things were true
• 6:32
  when she laid out these arguments many years ago.
• 6:35
  So that's just the nation state adoption.
• 6:38
  But on the institutional adoption, you have MicroStrategy
• 6:42
  being the best performing stock in 2024 by a large margin.
• 6:46
  He's outperforming companies like NVIDIA, like Microsoft,
• 6:50
  like Google, like Yahoo, their, their shareholders are asking
• 6:54
  why is MicroStrategy outperforming us, right?
• 6:57
  Amazon shareholders are like, hey, what's going on?
• 7:00
  Microsoft had to have to had to hold a vote.
• 7:04
  So like clearly a lot of things have changed since she made this
• 7:08
  prediction, this report a couple of years ago.
• 7:12
  So yes, I, I agree with her. I mean, like, guys, it's not
• 7:16
  unreasonable. We were at 108,000 not too long
• 7:20
  ago, a couple days ago. And that's less than a 10X to
• 7:24
  1,000,000. So are you trying to look at me
• 7:27
  dead in the eye and say, Nico, bitcoins not going to less than
• 7:31
  10X in six years or in five years?
• 7:35
  I think that's a pretty conservative case.
• 7:38
  And honestly, you know, and I've been saying this for the last
• 7:40
  week or so, I think a lot of us are going to be surprised by
• 7:45
  Bitcoins performance in 2025. I think I think a lot of people
• 7:50
  are going to be surprised because I think a lot of people
• 7:51
  still have PTSD from the 2021 bull market.
• 7:56
  Bitcoin really hasn't had a true bull market since 2017, and I
• 8:00
  think the 2021 bull market was cut short because of the China
• 8:04
  mining ban and the FTX rehypothecation and the like.
• 8:09
  Bitcoin tends to do the exact opposite or markets better said
• 8:12
  tend to do the exact opposite of what the masses think they're
• 8:16
  gonna do. So when I'm hearing 150K or 200K
• 8:20
  on Twitter and that's what everyone is saying, people
• 8:23
  forget they have short memories. But people were saying 100 or
• 8:27
  200 K Bitcoin last cycle, right? So just for the numbers to kind
• 8:32
  of staying roughly the same, it would be a little bit of a let
• 8:34
  down. You know, Bitcoin tends to have
• 8:36
  it's parabola year, the year after the halving.
• 8:40
  So far this year, we're up a roughly give or take around
• 8:43
  145%. Are you telling me that, you
• 8:47
  know, if Bitcoin, just if it's just a 2X so 100% gain from
• 8:51
  here, it's 200K. Are you telling me it's not
• 8:53
  going to do more than that? You know, a three X IS300K Like,
• 8:57
  you know, I, that wouldn't surprise me.
• 8:59
  I'm not saying it's going to hold those levels, but at least,
• 9:02
  you know, peek at those levels like kind of like a blow off
• 9:05
  top. So, and again, the reason I feel
• 9:08
  so confident about this is that's not the general
• 9:10
  consensus. The general consensus is more on
• 9:12
  the bearish side, right? So anyways, just bullish news,
• 9:16
  bullish Friday, and I just want to give it to you guys.
• 9:19
  I want to talk about this because like I just feel
• 9:22
  everyone is losing their minds, you know, Bitcoin is over,
• 9:25
  Bitcoin is dead. We went from 108 K to 92,000.
• 9:29
  Pack it up, it's going to 0. We've been here so many times
• 9:33
  before. This is like standard operating
• 9:36
  procedure during bull markets and it's a great opportunity to
• 9:39
  join the dip. Anyways, today I'm joined with
• 9:44
  joined by Mick from Geyser and of course our homie Chris Alamo.
• 9:49
  Mick, thank you so much for joining us on the show today.
• 9:53
  How you doing? What did you think about Kathy
• 9:55
  Wood increasing her price prediction for 2030?
• 10:00
  Hey guys, always a pleasure for being here.
• 10:03
  Thank you so much for the invite.
• 10:05
  I mean, look Katie has been bullish and had some you know
• 10:11
  also that upping that that bear case is really quite interesting
• 10:16
  to me. What I find a particular
• 10:19
  interesting at this point the institutional and the the state
• 10:24
  level adoption is happening undeniably that means good for
• 10:30
  Bitcoin, that means number go up.
• 10:32
  All of that is great news and hopefully we continue seeing
• 10:36
  that and it starts becoming adopted more and more at those
• 10:39
  levels. What I think is also really
• 10:43
  important to keep an eye on though is not not as much as
• 10:46
  state level or institutional level adoption, but community
• 10:50
  level adoption, grassroots level adoption.
• 10:52
  And that's really what what Geyser is all about.
• 10:55
  And remembering that for Bitcoin to succeed as a long term
• 11:00
  phenomenon, for it to be resilient, it needs to be
• 11:03
  adopted widely and it needs to also be understood widely.
• 11:07
  If the state is the one, if the states are the one that are
• 11:10
  telling us what Bitcoin is, what prevents them from changing the
• 11:13
  code? What prevents them from saying,
• 11:14
  oh, well, Bitcoin can still doesn't need to be capped 21
• 11:18
  million. So we need to have a very, very
• 11:20
  firm grassroots movement in Bitcoin.
• 11:23
  And we do that by spreading Bitcoin, by educating people
• 11:26
  about Bitcoin, by making Bitcoin culture, what you guys are doing
• 11:29
  by making films, by making games and so on and so forth.
• 11:33
  So I love Katie, I love, you know what's going on right now
• 11:37
  with the adoption. That's super bullish.
• 11:40
  But also let's keep in mind the grassroots level adoption that
• 11:43
  needs to happen for Bitcoin to remain A and to become a truly
• 11:47
  successful in the long term phenomenon.
• 11:50
  Amen. I think that's an excellent
• 11:52
  point. And of course, joining us today
• 11:54
  filling in for Opti, we got Chris Alamo in the house.
• 11:59
  Chris, what's your take on Kathy Wood?
• 12:02
  Yeah, no, what's up, guys? Happy to be here.
• 12:04
  Opti feel better. And I know there's a bunch of
• 12:06
  other people in the chat saying they're not feeling well, Merry
• 12:08
  Christmas to everyone. But no, I think Kathy Wood,
• 12:11
  she's a smart investor. Obviously, when the facts
• 12:13
  change, she updates her models. I think that she kind of thought
• 12:17
  into 2020, 20-30, her models were predicting that like a lot
• 12:21
  of corporate corporations such as Microsoft, Meta, Amazon,
• 12:27
  those of the ILKS, the Magnificent 7 would be adopting
• 12:30
  Bitcoin as a treasury reserve asset, similar to what
• 12:32
  MicroStrategy was doing. I know it's kind of us as
• 12:35
  Bitcoiners have been really bullish on more companies doing
• 12:38
  it. Obviously we saw the vote of
• 12:39
  Microsoft and like they basically voted 99.5% against
• 12:43
  adopting or putting Bitcoin on their balance sheet.
• 12:45
  I think that's just because they're really bullish on their
• 12:47
  operating business where micro strategy or Rumble or another,
• 12:51
  some, even some of the miners are kind of raising funds that
• 12:54
  are they're more bullish on buying Bitcoin versus their
• 12:56
  operations. That's just kind of what I'm
• 12:58
  seeing in the market. But she sees that her thesis was
• 13:01
  that Bitcoin's price was going to go to her base case was
• 13:04
  $600,000. But I think now she's seeing
• 13:07
  what Max Keiser and Trace Mayer and a lot of other Bitcoiners
• 13:09
  have been saying for at least a decade, like nation states are
• 13:12
  going to compete. I think Russia's here,
• 13:14
  obviously, you know, the Bitcoin Abu Dhabi conference or Bitcoin
• 13:17
  Mana conference, there's a lot of talk about the Saudi
• 13:21
  sovereign wealth funds or different nation states in the
• 13:24
  Middle East kind of adopting Bitcoin, taking their oil
• 13:26
  reserves and converting it to Bitcoin.
• 13:28
  I think, you know, the US with the strategic reserve, Russia, I
• 13:32
  think, you know, Putin's basically all but said that
• 13:34
  they're adopting Bitcoin or, you know, stacking Bitcoin.
• 13:37
  Obviously a lot of these nations, it's in their own best
• 13:39
  interest to keep it quiet. But I think she's updating her
• 13:41
  case to be like, oh crap, like we might be skipping a lot of
• 13:44
  the corporations and we're front running with nation states.
• 13:47
  So that's probably why she updated her, her bowl case and
• 13:51
  even her base case and her bear case for what Bitcoin's going to
• 13:53
  do when these nation states have the ability to print money to
• 13:56
  buy Bitcoin or basically to put Bitcoin on their balance sheets
• 13:59
  as a nation. I definitely think that's why
• 14:01
  we're leapfrogging, working to much higher prices, much higher
• 14:03
  highs. 100% I agree with that because that that's, that was
• 14:07
  really the game changer, right? Where you, this came out of
• 14:10
  nowhere. It came out of it came so
• 14:13
  quickly, right? We went from being attacked by
• 14:16
  the previous administration to, you know.
• 14:19
  Just. Zero to 100 like this basically
• 14:22
  talking about a strategic Bitcoin reserve.
• 14:25
  You know, and I remember seeing the the evolution right at first
• 14:28
  it was like talking about banning central bank digital
• 14:30
  currencies. Then that led to Bitcoin, then
• 14:33
  that somehow led to a strategic Bitcoin reserve.
• 14:36
  And then you're you're hearing it being talked about
• 14:38
  internationally and you know, it's great.
• 14:42
  Like for example, today, something we're going to talk
• 14:44
  about during the news, we have a Tornado Cash update.
• 14:47
  Tornado Cash case update for you guys.
• 14:49
  It's a very, very important case for us because after all,
• 14:52
  Bitcoin is open source software, but.
• 14:56
  You know, it it's we went from being attacked as an industry
• 14:59
  to, you know, the the the incoming administration of the
• 15:04
  most powerful country on the face of the planet being pro
• 15:07
  Bitcoin like that happened very, very quickly.
• 15:09
  And of course that forces every other every other country around
• 15:13
  the around the world that potentially is competing against
• 15:16
  the United States to take a different look on Bitcoin for
• 15:20
  the fear of getting left behind right.
• 15:22
  So you know, this is the game theory playing out.
• 15:24
  This is when Max Keiser coined the global hash war and we're
• 15:28
  seeing it play out and it's and of course, you know when
• 15:31
  countries compete for your Bitcoin do it right it's as
• 15:34
  simple as that all right everybody, before we start the
• 15:36
  show, I do want to give a very special shout out to simply
• 15:39
  bitcoins lead sponsor guys I get.
• 15:41
  This message all the time from you guys.
• 15:43
  You want to support? You want to send this money, You
• 15:45
  want to send this Bitcoin? You want to send the SAT's?
• 15:47
  We are supported by our partners, so if you guys want to
• 15:50
  help. Support the show.
• 15:51
  Check out our partners. We're very, very picky on who we
• 15:54
  choose to partner with. It's going to help you become a
• 15:58
  sovereign individual using Bitcoin.
• 16:00
  So I want to give a shout out to our lead sponsor Bitcoin Well.
• 16:03
  Bitcoin well is the best place to build your automatic self
• 16:05
  custody Bitcoin stack. Enable your independence with
• 16:07
  the fastest and safest way to buy Bitcoin on chain or via the
• 16:10
  Lightning Network in Canada or the USA.
• 16:13
  To get started, you put in your e-mail address here.
• 16:15
  It takes 2 to 5 minutes to get signed up and bada Bing bada
• 16:19
  boom, you're ready to buy Bitcoin now.
• 16:20
  What makes Bitcoin Well different than all the other on
• 16:24
  ramps and why we're such a big fan of it here at Simply
• 16:26
  Bitcoin. It is a completely non custodial
• 16:30
  platform. What does that mean That means
• 16:31
  that when you buy Bitcoin on Bitcoin well and then then the
• 16:35
  funds clear it goes straight to yourself.
• 16:37
  Custody Bitcoin wallet address for higher net worth individuals
• 16:41
  that are looking to buy $50,000 worth of Bitcoin or more.
• 16:45
  If you're looking for a white glove tailored experience,
• 16:49
  you're tired of dealing with that finicky Coinbase UI and you
• 16:52
  want to deal with a human being every time you buy or sell or
• 16:56
  you have questions about Bitcoin, you have to check out
• 16:59
  Bitcoin Well infinite. To get get started go to
• 17:01
  bitcoinwell.com/OTC or you can send me an e-mail
• 17:05
  nico@bitcoinwell.com. Also, every time you buy Bitcoin
• 17:09
  on Bitcoin Well, you earn Bitcoin well points and you
• 17:12
  could redeem those points towards the Bitcoin wishing well
• 17:14
  contest, which we're doing live for you guys right now.
• 17:17
  Get your lightning wallets ready.
• 17:18
  First person to scan the QR code has won 500 SAT's.
• 17:22
  You win every time you toss a coin into the wishing well, and
• 17:26
  by the way, you have an opportunity to win up to
• 17:29
  1,000,000 Satoshi's if you use promo code Simply BTC again,
• 17:34
  Simply BTC to sign up to bitcoinwell.com today you get 3
• 17:39
  tosses into the Bitcoin wishing well.
• 17:42
  All right everybody, let's get to the numbers.
• 17:43
  We have tons to talk about. I want to tell you guys about
• 17:54
  our sponsor stamp seed. Is your Bitcoin and cold storage
• 17:58
  really secure? Are your seed words really
• 18:01
  secure? Stamp seeds Do It Yourself Kit
• 18:04
  has everything you'll need to hammer your seed words into
• 18:08
  commercial grade titanium plates instead of writing them down on
• 18:14
  paper. Don't do that.
• 18:15
  Paper sucks. You want to literally stamp your
• 18:19
  seed into this plate of titanium.
• 18:22
  Your words are actually stamped into the metal plate with this
• 18:25
  hammer, so once your words are in, they aren't going anywhere.
• 18:30
  No risk of the plate breaking apart and your pieces falling
• 18:34
  everywhere. Titanium stamp seeds will
• 18:36
  survive nearly triple the heat produced by a house fire.
• 18:40
  They are also crush proof, waterproof, non corrosive and
• 18:44
  most importantly because this is generational wealth, time,
• 18:48
  proof, all things. That paper is.
• 18:51
  Not allowing you to huddle your Bitcoin for the long haul, I
• 18:56
  mean. Here is the plate that they
• 18:58
  crushed, they put in water, they put a blowtorch to it, and as
• 19:02
  you can see the words have survived.
• 19:05
  Stamp your seed on stamp seed and you can use promo code
• 19:10
  simply to get 15% off anything on their store.
• 19:17
  All right everybody, before we jump into the numbers, scan the
• 19:20
  QR code on your screen. Head over to stampse-ed.com
• 19:23
  today. Stamp your seed into titanium.
• 19:26
  Don't write down your seed phrase.
• 19:28
  Don't write down your your generation of wealth on paper.
• 19:30
  Paper is fickle. You want to stamp that seed into
• 19:34
  titanium, Scan the QR code. Go to stampse-ed.com today.
• 19:37
  Use promo code simply to get 15% off.
• 19:39
  At the time of recording, the Bitcoin price is $97,120.
• 19:43
  Block height 875,618 Stats per dollar 1029 Market cap 1.92
• 19:49
  trillion Bitcoin versus Gold Market cap 10.53% Percentage
• 19:54
  issued 94.28% Declined from all time high -10.3% realized
• 19:59
  monetary inflation 1.13% the the grand.
• 20:03
  Scheme of things. We are just getting the party
• 20:06
  started. Anyways, before I kind of get
• 20:09
  into the bulk of the numbers news, I I do want to cover this
• 20:13
  'cause it's important. To.
• 20:15
  Zoom out when in doubt. So here's Vijay Poyapati.
• 20:19
  He's contributed a tremendous amount towards the community and
• 20:22
  just Bitcoin in general. Great book.
• 20:24
  I think he wrote the the the the book the bullish case for
• 20:27
  Bitcoin. I believe that was the author,
• 20:30
  Chris. Is that right?
• 20:31
  Yeah, that's correct. Yeah, great author, big fan of
• 20:34
  his work. Highly recommended it.
• 20:36
  So that article was so famous, it was originally rated on
• 20:39
  Medium, but it got so much traction that originally became
• 20:42
  a book and Saylor actually wrote the foreword for that book.
• 20:46
  So anyways, this is the this is the author of that book.
• 20:50
  Great guy, very, very intelligent.
• 20:52
  And he says a reminder from prior bull markets corrections
• 20:55
  are normal. And we'll see several more
• 20:58
  before the end of 2025. And this is actually a tweet
• 21:03
  from 2021, right? And I'll pull it up.
• 21:07
  And in the 2017 Bitcoin bull market, corrections found demand
• 21:11
  after drops from 30 to 40%. In the current bull market,
• 21:14
  demand seems to appear after corrections between 15 to 20%.
• 21:18
  So this is probably indicative of a difference in buyers retail
• 21:21
  2017 versus institutional today, right?
• 21:25
  So yeah, I mean, this is quite interesting and it seems like
• 21:29
  history is once again repeating itself.
• 21:31
  So take advantage and stack the dip.
• 21:34
  Anyways, so quick update on this.
• 21:36
  We covered this on yesterday's show.
• 21:39
  If you guys didn't watch it, essentially El.
• 21:41
  Salvador to scale? Back Bitcoin policies for $1.4
• 21:45
  billion IMF loan deal but the most important point point and
• 21:49
  you know the the IMF takes this like this like victory statement
• 21:52
  basically saying it's going to be.
• 21:54
  Confined and all that stuff, but it seems like the IMF had to
• 21:58
  make some concessions because Bitcoin will remain legal tender
• 22:02
  number one and #2 El El Salvador will continue it's Bitcoin
• 22:08
  acquisition strategy. And what's quite interesting,
• 22:11
  and I think, you know, I noticed this last night, I actually
• 22:14
  tweeted about it and, and the tweet did quite well.
• 22:16
  So I'm assuming a lot of people resonated with it.
• 22:20
  And I said, in case anyone can't read between the lines, this is
• 22:24
  a message to the IMF. As soon as, you know, that IMF
• 22:27
  deal was being talked about and it started making the rounds, El
• 22:32
  Salvador changed their daily one Bitcoin purchase and they
• 22:37
  purchased 11 Bitcoin in one day. And I saw that as a clear, clear
• 22:43
  message that it was clear. Like, I saw that.
• 22:45
  I was like, that's a message being sent to the IMF in an
• 22:49
  indirect way, basically saying, you know what, nothing's changed
• 22:52
  here. Bitcoin's still legal tender,
• 22:55
  and we're going to continue to keep our strategy of acquiring
• 22:58
  one Bitcoin a day. And here's the official press
• 23:02
  release by the. But the Bitcoin Office office, I
• 23:05
  believe it, Max and Stacey run it says we just transferred over
• 23:10
  $1,000,000 worth of Bitcoin to our strategic Bitcoin reserve.
• 23:13
  So yeah, I mean, like taking that, taking that IMF money and
• 23:18
  buying Bitcoin with it. That's a joke.
• 23:20
  But you know, I do find it. It's symbols are important,
• 23:26
  guys. Symbols are important.
• 23:28
  That was very symbolic. The the timing of it was not a
• 23:32
  coincidence. It was on purpose, and that
• 23:35
  purpose was to send a message. Anyways.
• 23:37
  I'm going to start with Chris. Chris, what are your thoughts?
• 23:39
  On this, you know this IMF news. Yeah, I think a lot of people in
• 23:46
  the IMF or even just like normal economists were saying the IMF 1
• 23:50
  El Salvador is a failed experiment.
• 23:52
  But Nico, I know you've been talking about this for years,
• 23:55
  the project of El Salvador. I mean, their crime rates,
• 23:58
  number one in the West, meaning that it's the lowest crime rate
• 24:00
  of anywhere in the Western Hemisphere, probably better than
• 24:03
  most U.S. cities. I would say.
• 24:05
  Obviously a lot of Bitcoiners were hoping this would be more
• 24:08
  grassroots, the adoption of Bitcoin.
• 24:10
  So them saying it's not requiring businesses to take it,
• 24:12
  but voluntarily, you know, there's the saying, the old
• 24:15
  saying in Bitcoin that you get price at the, you know, you get
• 24:18
  Bitcoin at the price that you deserve.
• 24:19
  So a lot of the businesses that opt to not accept it or decline
• 24:22
  to accept it or don't want to accept in the future, they will
• 24:25
  come around to Bitcoin through, you know, one way or another.
• 24:29
  So I think it was a great experiment for showing it.
• 24:32
  I know that they were also, I believe, correct me if I'm wrong
• 24:34
  here, Nico, but I think they were shutting down the Chivo
• 24:36
  wallet, which I think is a better, a good thing.
• 24:38
  I mean, even though Buchele and El Salvador is very tech forward
• 24:42
  and future focused, they could not build a better wallet in my
• 24:45
  opinion, than a lot of the wallets that are today, such as
• 24:48
  Phoenix wallet, such as a wallet of Satoshi, such as, you know,
• 24:53
  even Noster clients like Primal. A lot of the free market or the
• 24:56
  private sector does better than the than the public market, such
• 25:00
  as government entities and stuff.
• 25:01
  So I just think that this is just another case of that that
• 25:03
  Chiva was a government run wallet or wallet that was trying
• 25:06
  to be spun up by El Salvador. I give him props for trying it,
• 25:08
  but I definitely think like, you know, the private sector will
• 25:11
  generate better products and services for people that are
• 25:14
  looking for them. So like you said, and I think it
• 25:17
  is symbolic that they didn't sell their Bitcoin.
• 25:19
  They bought 11 more and it looks like they're keep going with
• 25:21
  their forward. So it's basically the IMF gave
• 25:22
  them the loan to buy more Bitcoin in my opinion.
• 25:25
  Yeah, absolutely, 100%. Very symbolic.
• 25:28
  Definitely sending a message before I pass it on to Mick to
• 25:31
  get his thoughts. I do want to give a shout out to
• 25:34
  the 2500 of you guys watching live between YouTube Rumble and
• 25:39
  XI. Appreciate you guys if you guys
• 25:41
  are enjoying the show. So far, make sure to smash that
• 25:44
  like button. Of course share the content, it
• 25:46
  helps push the message forward. Also, we are streaming to Noster
• 25:51
  via ZAP dot stream and we made an announcement yesterday that
• 25:55
  we will be uploading all our content to Noster via the Primal
• 26:00
  app starting yesterday. Essentially, we uploaded simply
• 26:04
  Bitcoin originals by Ruston and we're going to continue to do so
• 26:08
  moving forward to support, you know, as as content creators,
• 26:12
  it's really important for us to support protocols that I'll
• 26:17
  leave it at that. Anyways, Mick.
• 26:19
  What are your thoughts? What are your thoughts on this
• 26:21
  man? What are your thoughts on the on
• 26:23
  the message from from El Salvador stacking the dip?
• 26:27
  Stacking. Stopping stacking that Bitcoin,
• 26:29
  buying that cheap cheap corn. I think you nailed it.
• 26:34
  El Salvador is saying you're going to give us some money.
• 26:37
  You really want to give us some money.
• 26:39
  What are we going to do with the money?
• 26:40
  We're going to stack Bitcoin. I mean, a total based move,
• 26:44
  Beautiful, beautiful strategic approach.
• 26:47
  And like you said, don't do but don't listen to what they say.
• 26:51
  I look at what they do and Nan Pukele with that symbol of
• 26:55
  buying 11 Bitcoin in one day made a very, very strong
• 26:59
  statement. But the question I, I have is
• 27:01
  this, why did the IMF do it right?
• 27:05
  If they weren't able to curtail El Salvador's strategic Bitcoin
• 27:10
  strategy, why did they give them all the money and not push
• 27:14
  harder? Well, I'll give you my
• 27:16
  interpretation. My, my thought around that.
• 27:18
  I think they, they are seeing this as a win, right?
• 27:22
  They, if their strategy is to get people outside of the
• 27:25
  Bitcoin standard, then with this, with this move, they're
• 27:29
  like, oh, look, see, Bitcoin is not technically legal tender.
• 27:33
  So now they can go to other countries to say, no, well,
• 27:35
  Salvador is not technically legal tender because countries
• 27:38
  are, you know, merchants and so forth are not, are not mandated
• 27:44
  to accept Bitcoin. And so with this sleight of
• 27:47
  hand, they, they, the MF thinks that they think that they're
• 27:50
  winning because they can say that it's not really legal
• 27:53
  tender. But the reality is they're still
• 27:58
  stacking sats and they're still have a, a Bitcoin mentality.
• 28:01
  So I think Buchella is absolutely owning them,
• 28:04
  absolutely winning them in this case from a from a storytelling
• 28:07
  perspective. 100% of they're definitely winning the
• 28:10
  narrative. I completely agree with you.
• 28:12
  And you know that I think that's, that's what's important,
• 28:15
  right, Because the IMF, you know, their, their statement was
• 28:18
  quite strong. I'll, I'll read it.
• 28:21
  I'll reread it for you guys. They said quote the potential
• 28:24
  risks of the Bitcoin project will be diminished significantly
• 28:28
  in line with fund policies. Legal reforms will make
• 28:31
  acceptance of Bitcoin by the private sector voluntary for the
• 28:35
  public sector engagement in Bitcoin related economic
• 28:38
  activities and transactions in Bitcoin and purchases of Bitcoin
• 28:41
  will be confined. It was stated in the press
• 28:45
  release. And another thing, another
• 28:46
  observation and then I'll, I'll pass it on to Chris to get his
• 28:49
  thoughts. You know, you guys have to put
• 28:53
  this into perspective, right? The IMF is a very powerful
• 28:57
  institution. It's headquarters is in
• 28:59
  Washington, DC. If you could read in between the
• 29:02
  lines and what's interesting to me is how much attention.
• 29:08
  They're putting into El Salvador.
• 29:11
  El Salvador has a total GDP of 32 billion.
• 29:13
  Just to kind of give you guys perspective, Elon Musk's
• 29:17
  individual net worth is 250 billion, right?
• 29:22
  Why does the IMF care so much what this tiny country is doing
• 29:31
  in regards to making Bitcoin legal tender?
• 29:33
  Why do they care so much about El Salvador's Bitcoin policy?
• 29:39
  I have my own theories on that, but before I wanna get Chris.
• 29:42
  'S thoughts? Yeah, I mean, obviously they're
• 29:45
  singling out to your point, Nico, they're singling out El
• 29:48
  Salvador, which has a population of 6,000,000.
• 29:50
  It's smaller than the city of or the burbs of New York.
• 29:55
  So like 8 million people live in New York City proper area.
• 29:59
  So yeah, I think they're singling them out because they
• 30:01
  don't want to lose control. I think at the end of the day,
• 30:03
  it's, you know, people strive for money and power and once you
• 30:07
  have you can print money, you know, all you want is power.
• 30:10
  So they're trying to control or to prevent an escape hatch as
• 30:13
  like our friend Christine Lagarde or Opti's ex-girlfriend
• 30:16
  always says, you know, we don't want to lock down the escape
• 30:19
  hatches because we don't want them to use a way to get out of
• 30:22
  our system, obviously. And tying this back to France
• 30:25
  and Africa and stuff like that, France controls many parts of
• 30:28
  Africa through colonization of weaponizing the money, not so
• 30:31
  much through with foot soldiers and colonization of force.
• 30:35
  They have used that in the past. But basically what they do is
• 30:38
  they control their bank reserves, the gold that Africa
• 30:41
  mines, and a lot of their monetary and banking system have
• 30:45
  to go through France. So basically France has them
• 30:48
  exactly what the US did to Russia by taking them off the
• 30:50
  SWIFT system. Russia basically does the large
• 30:52
  continent of Africa. So you know, a lot of these, the
• 30:55
  traditional monetary system, you're under the thumb or the
• 30:58
  guise of corporations, which are under the thumb of governments
• 31:01
  abroad. And you know, then there's a lot
• 31:03
  of these NGOs or non government organizations such as the IMF
• 31:06
  that are kind of even in lockstep or even above
• 31:09
  governments you can see as pressuring, you know, left or
• 31:11
  right, it doesn't matter. They put their thumb and try and
• 31:14
  unelected bureaucrats kind of push their policies of power and
• 31:18
  control. So that's just kind of the way
• 31:19
  that I see it. They're worried that this El
• 31:21
  Salvador experiment will be seen.
• 31:23
  People be like, oh crap, we should do what they're doing and
• 31:25
  then they lose control. So that's why why they have to
• 31:27
  try and squash or squash that, you know, like basically this
• 31:30
  peaceful movement of monetary revolution.
• 31:34
  Absolutely. I think that's an excellent
• 31:35
  point, Mick. What's your take on all this,
• 31:37
  brother? Yeah.
• 31:38
  I mean, Chris, Chris just nailed it there.
• 31:41
  I mean, the example of France is, is a microcosm of what's
• 31:44
  happening globally with the dollar, right?
• 31:46
  The dollar is, is the global hegemon and the IMF, as you
• 31:50
  said, it's based in Washington and it obviously does the
• 31:55
  interests of of the United State dollar.
• 31:59
  Now, El Salvador is still a dollar backed economy, but it's
• 32:05
  experimenting with Bitcoin, buying Bitcoin and so forth.
• 32:08
  So this represents the, the cutting edge of a of a
• 32:12
  competition of, of Bitcoin, Bitcoin representing competition
• 32:16
  for the dollar, which I mean, it's still far away, you know,
• 32:19
  but it still represents a potential threat that they have
• 32:21
  to start to to manage. So we'll see.
• 32:25
  It'll take time, right? It's, it's, it's gonna take a
• 32:27
  long time, but it will, it's, it's gonna be a gradual and
• 32:31
  gradually, then gradually, I kind of think is it will take
• 32:35
  time guys. But it is still the situation
• 32:39
  they have to be able to manage. So in the, during the Cold War,
• 32:42
  they talked about the domino effects of communism.
• 32:45
  Well, here there's a threat of the domino effect of Bitcoin
• 32:48
  becoming illegal tender in many different countries.
• 32:50
  So but yeah, we just have to keep on on, on just infiltrating
• 32:56
  Bitcoin into every single place we can at the grassroots level,
• 33:00
  at the nation state level. And, and hopefully this becomes
• 33:03
  a new paradigm for, you know, wealth and abundance for a lot
• 33:07
  of the world and not this sort of monetary type hegemony of
• 33:13
  domination that impacts a lot of nations.
• 33:17
  Absolutely. I think that's an excellent
• 33:18
  point. I think you you're making
• 33:20
  excellent points make and it's you know, and and the Bitcoin
• 33:24
  mine virus is spreading. You know, it's spreading on A at
• 33:27
  nation state level, on an institutional level and on an
• 33:30
  individual level as well. And it's extremely exciting.
• 33:33
  And again I'll say I'll I'll repeat what I said in the
• 33:36
  beginning of the show. When people are competing for
• 33:38
  your Bitcoin, you win because number go up right.
• 33:41
  Anyways, guys, let's get to the news.
• 33:43
  We have tons to talk about. We'll be right back.
• 33:46
  I want to give a. Very special shout out to our
• 33:48
  sponsor Compass Mining. They make Bitcoin mining
• 33:52
  accessible to everyone from beginners to experienced
• 33:56
  investors. Their Turn key miners gets you
• 33:59
  online and hashing within 48 hours, making it easier than
• 34:03
  ever to start your mining journey.
• 34:06
  Plus, with their active marketplace, you can resell your
• 34:09
  miner at any time, adding flexibility and value to your
• 34:13
  investment. Visit their website to access a
• 34:16
  wealth of resources, learning everything you need to know
• 34:19
  about Bitcoin mining. Take your first step into the
• 34:23
  world of Bitcoin mining with confidence.
• 34:25
  Discover more at Compass Mining dot IO.
• 34:28
  Again, Compass Mining dot IO and see how Compass Mining can power
• 34:34
  your success. I want to give a shout out to
• 34:44
  our sponsor foundation. It's self custody done right.
• 34:47
  They've built a premium grade hardware wallet called Passport
• 34:51
  right here in the US, and it integrates seamlessly with their
• 34:54
  free app called Envoy. Passport is fully open source
• 34:59
  and verifiable. It's the most intuitive Bitcoin
• 35:02
  wallet design with a UX reminiscent of a classic feature
• 35:05
  phone, so you'll know how to navigate it and use it the
• 35:08
  moment you pick it up. It's also air gaps, meaning
• 35:11
  Bitcoin stays offline, never touching an Internet connection.
• 35:15
  It's Bitcoin only open source. Verifiable air gap.
• 35:18
  Security model, Gorgeous design, Craft premium grade materials.
• 35:22
  Get your Bitcoin off exchanges and into your own hands in just
• 35:26
  a few minutes with Passport at foundation dot XYZ slash.
• 35:30
  Simply get Peace of Mind. All right, everybody, scan the
• 35:37
  QR code on your screen right now.
• 35:39
  I'll take you directly to the Foundation Devices website where
• 35:42
  you can get yourself a passport. Remember, guys, not your keys,
• 35:45
  not your cheese. All right, everybody, let's get
• 35:48
  to today's news. So let me where is it?
• 35:52
  Here it is. OK, so quick refresher.
• 35:56
  This tornado cache case, we've been talking about it for quite
• 36:00
  a long time and I'll go, I'll, I'll go through the series of
• 36:03
  events so that you guys can understand why you should care
• 36:07
  about this, what's the significance of it, etcetera,
• 36:09
  etcetera. So this started, this was part
• 36:12
  of Operation Choke .2 point O that was happening during the
• 36:15
  Biden administration. And essentially what happened
• 36:20
  was they went after Tornado Cash and the argument that they made
• 36:25
  was that Tornado Cash was being used by, you know, the North
• 36:30
  Koreans and by criminals to launder money.
• 36:34
  And you know, this is very similar to the TD Bank case and
• 36:39
  all that stuff, except when, you know, our industry does it, we
• 36:42
  go to jail when their industry does it, they get fines, right?
• 36:45
  Kind of a double standard and you know, they, they arrested
• 36:49
  these guys and they said you guys are essentially, you know,
• 36:54
  we're we're convicting you guys for money laundering and and
• 36:57
  etcetera, etcetera. But what's really scary?
• 36:59
  Is, you know, these guys didn't facilitate anything.
• 37:03
  They built software and people use that software to commit
• 37:07
  crime. So what the Treasury tried to do
• 37:10
  is that they tried to set a precedent, basically making it
• 37:15
  so that the Treasury can sanction open source software.
• 37:18
  You understand where this is going?
• 37:19
  You know what else is open source?
• 37:21
  Bitcoin is open source. So they were essentially setting
• 37:24
  precedence. And the reason that I believe
• 37:26
  they started with Tornado Cash is because no one really knows
• 37:28
  what Tornado Cash is. It's not really very popular.
• 37:32
  As soon as the Tornado Cash case happened, and shout out to Coin
• 37:36
  Center because they tried to appeal, the appeal got shot
• 37:40
  down. As soon as the appeal got shot
• 37:43
  down within a month or two, you know what they did?
• 37:46
  They went after samurai and they arrested the samurai wallet
• 37:49
  guys. So it was like a slow crawl like
• 37:53
  these. It was like a chess game of, you
• 37:56
  know, let's go after a little fish.
• 37:58
  Let's set the legal precedent and then let's use that as a
• 38:01
  platform to go after the bigger fish.
• 38:05
  And where I think that this, where I believe this was heading
• 38:07
  eventually was going to be the case as look, you know, we have
• 38:16
  to sanction Bitcoin and we you can only use approved wallets
• 38:21
  because if you don't use approved wallets, you know,
• 38:24
  countries that the United States has sanctioned policies against
• 38:28
  are going to use Bitcoin to circumvent US sanctioned policy.
• 38:33
  So they were doing it very slowly, but surely they're
• 38:36
  setting these legal precedents. And it was like there's this
• 38:40
  slow crawl, but we were on top of it the entire time.
• 38:43
  So it for us, it was like very methodical and it was very
• 38:47
  obvious where this was going, right.
• 38:49
  So This is why, you know, elections have consequences.
• 38:53
  We got so much heat for picking a side, but we weren't picking a
• 38:57
  side because of the non Bitcoin related policies.
• 39:00
  We're very neutral when it comes to that stuff.
• 39:03
  We picked a side because we felt like our industry was under
• 39:06
  attack. And another thing that I'll say
• 39:09
  is, you know, the Republicans and Trump wouldn't have just
• 39:13
  started talking about Bitcoin because they liked Bitcoin.
• 39:16
  They saw it as an opportunity to get votes.
• 39:21
  It was as simple as that. And then by attacking our
• 39:25
  industry, they also, and they, this was an unintended
• 39:30
  consequence. They created a donor class out
• 39:33
  of our industry. And in case anyone doesn't
• 39:36
  understand how Washington, DC works, it's essentially like run
• 39:41
  by the donors. And now our industry is part of
• 39:44
  that donor class. So we are going to have
• 39:46
  influence in Washington DC politics.
• 39:49
  And this all started because they decided to attack our
• 39:53
  industry. Like, I don't think Bitcoiners
• 39:56
  would have gotten political and I don't think the Republicans
• 39:58
  would have even looked at Bitcoin.
• 40:00
  It was like they attacked us and that created an opportunity for
• 40:05
  their leading political opponents to capitalize on it.
• 40:08
  Simple as that. So the reason I'm giving you all
• 40:10
  this preface is so so that you guys understand this upcoming
• 40:14
  article. And you know, it's a big win.
• 40:17
  And by the way, this is not a coincidence that this is
• 40:21
  happening after the Republican Party and Trump won the
• 40:25
  election, right? All these cases that are being
• 40:28
  dismissed, Gary Gensler saying that he's not, he's resigning.
• 40:32
  You know, all these people that they're announcing that they're
• 40:35
  resigning right before Trump is inaugurated.
• 40:37
  Like do you think all these cases are?
• 40:39
  It's not a coincidence. This is why we keep saying,
• 40:42
  listen, we all want the world from the sovereign individuals,
• 40:45
  Bitcoiners, right? The this world where politics is
• 40:48
  irrelevant because the state has lost the ability to create money
• 40:53
  for free that everyone else has to work for.
• 40:55
  But we are not in that world yet.
• 40:58
  We're in the transition phase. And during the transition phase,
• 41:02
  unfortunately, Fiat politics are still very important.
• 41:06
  So anyways, big preface and lots of context provided.
• 41:10
  So here's Lola and she says. This is a.
• 41:14
  Tweet, by the way, she says, quote, wake up, babe.
• 41:17
  There's a new filing in Tornado Cash.
• 41:19
  Roman Storm's defense has filed to drop all criminal charges.
• 41:23
  As last month's sanctions reversal show, all counts of the
• 41:28
  indictment are fatally and legally flawed.
• 41:31
  In the sanctions reversal, the 5th Court, the 5th Circuit found
• 41:35
  that the software does not constitute property and cannot
• 41:39
  be owned or controlled, leaving the government's case against
• 41:43
  Storm hardly leg to stand on. This is why, like guys, this is
• 41:47
  what I was trying to tell you when they did this.
• 41:49
  It was, it was pretty scary because it basically the
• 41:52
  treasury was trying to make the case that the way that sanctions
• 41:56
  work is that they're, you're supposed to be able to sanction
• 42:01
  an individual or sanction a country.
• 42:05
  Like it, it the, the, let me try to give you guys an analogy.
• 42:09
  It's like basically saying like the gun manufacturers are, are,
• 42:13
  are liable for violence that is committed with, you know, with
• 42:17
  guns, like, like it's not the guns that are committing the
• 42:21
  violence, it's, it's the people. So it's the same with this,
• 42:25
  right? Like, how could you be held
• 42:28
  liable if someone uses software that you made and they
• 42:32
  themselves decided to use that in an illegal form?
• 42:36
  Why should you be held liable for that?
• 42:39
  And of course, they're doing this because I don't think it
• 42:42
  has anything to do with, you know, what they claim it has to
• 42:46
  do with. I think it has to do with the
• 42:48
  fact that they're losing their monopoly on the control of
• 42:51
  money. I think that's what it
• 42:52
  fundamentally boils down to. And I think they're using
• 42:55
  Lawfare to try to retain that control over money.
• 43:01
  So it goes on to say much of Storm's prosecution relies on
• 43:05
  the government's ability to prove that Storm operated a
• 43:09
  service over which he held sufficient control.
• 43:12
  According to the defense, if Tornado Cash is not property and
• 43:16
  cannot be owned, then it cannot be a business at all, let alone
• 43:20
  a money transmitting business, has argued in the newly filed
• 43:24
  motion. The 5th Circuit quote confirms
• 43:27
  that the government will never be able to prove that Mister
• 43:31
  Storm had control over the proceeds of the specified
• 43:34
  unlawful activity in the legal system.
• 43:37
  Circuit appellate courts exist to review whether district
• 43:41
  courts have applied the law correctly, holding the ability
• 43:44
  to set binding precedent. While Storm's criminal
• 43:47
  prosecution lies outside of the 5th Circuit jurisdiction, the
• 43:51
  ruling may be sufficiently persuasive to end the US
• 43:55
  government's witch hunt and incredible misinterpretation of
• 43:59
  the law. Shout out to everyone who who
• 44:02
  backed the suit against the Treasury.
• 44:05
  You may have saved the person's life and the future of financial
• 44:08
  privacy for all of us. Yes, I cannot emphasize.
• 44:11
  And by the way, this will have implications for the Tornado
• 44:16
  Cash case. This is all connected.
• 44:19
  You just have to connect the dots.
• 44:21
  So I think that's a huge win for the Bitcoin movement and it's
• 44:26
  definitely a step in the right direction.
• 44:28
  And I'm going to repeat myself like a parrot.
• 44:31
  Elections have consequences. I don't think that this all of a
• 44:36
  sudden this court found Satoshi and was like, you know what?
• 44:40
  Actually, we can't sanction open source software.
• 44:44
  No, I think they see the writing on the wall of the incoming
• 44:48
  administration, the fact that the incoming administration has
• 44:51
  a Bitcoin donor base, the fact that the incoming administration
• 44:55
  is very positive and friendly towards the industry.
• 44:59
  And I think that they can't get away with the law fair that they
• 45:02
  were getting away with during the current administration.
• 45:05
  And I think it's as simple as that.
• 45:07
  Anyways, Chris, what are your thoughts on this?
• 45:09
  There's a lot of pieces to put together, but I hope I did a
• 45:12
  good job. No, you did a really good job.
• 45:14
  And Nico, it's all in framing too.
• 45:16
  So they're kind of always trying to build the narrative and the
• 45:18
  case to look like it's best in their own interest.
• 45:21
  So tying back to Tornado Cash back in 2023, they said over a
• 45:25
  billion dollars was laundered through this and like listen to
• 45:28
  the words they say that like and all from their own article as
• 45:32
  alleged tornado cast as an infamous cryptocurrency mixer
• 45:35
  that laundered more than $1 billion in criminal proceeds and
• 45:38
  violated the US sanctions. But when you dig into the
• 45:41
  article, it's a billion dollars had gone through the crypto
• 45:44
  mixer, but a lot of people that are using it are using it for
• 45:47
  privacy preserving reasons. But of course, you know, DC, the
• 45:50
  Elizabeth Warrens of the world love to lump that all in
• 45:52
  together and say that they're using it for nefarious reasons.
• 45:55
  But then a new, another article came out just this year that was
• 45:58
  saying including more than $450 million that were stolen by the
• 46:02
  Lazarus Group, which is a North Korean backed hacking group.
• 46:05
  But then when you dig into it further, there was, you know,
• 46:08
  asterisks on that $450 million. So $450 million was stolen from
• 46:13
  bank accounts and other things. And yes, cryptocurrencies are
• 46:15
  using, but then their own reports, Elizabeth Warren
• 46:18
  brought up this 450 million dollars, $455,000,000 to
• 46:22
  Congress. But then cryptographers or
• 46:23
  people in the crypto space said less than 250 thousand U.S.
• 46:27
  dollars were used in terms of cryptocurrencies.
• 46:29
  So they would go from a billion dollars to $450 billion or $450
• 46:33
  million to $250,000. So notice that they're always
• 46:37
  trying to build that. It's the worst case scenario.
• 46:39
  The chickens falling, you know, think, you know, Chicken Little
• 46:42
  where you know, the sky is falling and all that.
• 46:44
  And they're trying to frame it for their own benefit that we
• 46:47
  need to go after it. Look, they're laundering over a
• 46:48
  billion dollars through this mixer when a lot of people are
• 46:51
  using it legally, you know, to try and preserve their own
• 46:54
  privacy. Tying that into the
• 46:56
  cryptographers from the 90s, there was a famous battle
• 46:59
  between the US and cryptographers globally, but
• 47:02
  they were saying that code in the 90s was munitions.
• 47:05
  They were trying to charge them as using encryption as a way
• 47:09
  that they are aiding and abetting Russia, Iran, any, any
• 47:13
  adversaries to the United States saying that they were aiding
• 47:15
  them with encryption protocols that allowing that the
• 47:17
  government can't backdoor and see what the communications are
• 47:20
  going for. Back and forth.
• 47:22
  Adam back, Tim May, Eric Hughes, a lot of famous cryptographers
• 47:26
  from back in the 90s were fighting this against the US
• 47:28
  government. So what they ultimately ended up
• 47:30
  doing was if you say that code is speech or code is illegal and
• 47:34
  that's ammunition. They printed those things on on
• 47:37
  shirts and they walked through airports like TSA.
• 47:39
  It's like, oh, are you, am I aiding and betting criminals by,
• 47:42
  you know, having the code, the free and open source code on a
• 47:45
  T-shirt. And ultimately they lost.
• 47:47
  I don't know. I think it went all the way up
• 47:49
  to the Supreme Court or at least the 5th Circuit of Appeals and
• 47:51
  basically said that no, that like code is speech and speech
• 47:55
  is protected under the 1st amendment.
• 47:56
  So the government was not allowed to go against them and
• 47:58
  there's been many cases along them.
• 48:00
  But this is the newest iteration choke .2 point O of trying to go
• 48:03
  after tornado cash, Bitcoin fog and the samurai developers.
• 48:06
  Unfortunately, Bitcoin fog went against Roman Sterlingoff, not
• 48:10
  to be confused with Roman storm of the tornado cash case.
• 48:13
  But as of right now, he's facing 12 year 12 1/2 years.
• 48:16
  He'll be in prison unless he's pardoned by someone like Trump
• 48:19
  or, you know, a future U.S. President.
• 48:21
  But the, the, the thing that's crazy of it all is they claimed
• 48:24
  that Bitcoin fog was another mixer, just like Tornado Cash,
• 48:27
  but specifically for Bitcoin. They were claiming that, you
• 48:30
  know, he was running it solely alone.
• 48:32
  But yet to this day, Bitcoin fog is still operating and running
• 48:35
  today. So how can the guy that the sole
• 48:37
  operator of a thing that they said, you know, harmed people
• 48:41
  and his and criminals are using to launder money is still up and
• 48:44
  operational today, even though he sits in jail and has been in
• 48:47
  fighting his case for the last three years and fighting it from
• 48:49
  a jail cell. So it's just really, you know,
• 48:51
  the the narrative doesn't match what actually happens in
• 48:54
  reality. And one last point for Roman
• 48:55
  Sterlingoff that he was, he never denied using it.
• 49:00
  He said that he used it, but they claim that he was the sole
• 49:02
  founder and creator and user of this.
• 49:04
  And they basically have this black box software.
• 49:06
  With a chain analysis and basically his defense wasn't
• 49:09
  allowed to get access to it. They said you have to buy it for
• 49:11
  a ridiculous sum of like $25,000, which his lawyers were
• 49:14
  running on a much smaller budget.
• 49:16
  So my my last thing will be like, if you want to help on
• 49:19
  this fight, and I think we are winning.
• 49:20
  The tides are changing. You know, us as a voting bloc,
• 49:23
  crypto and Bitcoin in general as a voting bloc have won and
• 49:26
  elections have consequences. But if you want to help out in
• 49:29
  this fight, P to prights.org or Zach Shapiro, which I know he's
• 49:32
  been on the show a few. Times is a great advocate in
• 49:35
  fighting the fight for the Tornado Cash guys or the Samurai
• 49:39
  guys. My apologies, but.
• 49:40
  Yeah, absolutely. And I think you, you're, you've
• 49:43
  made great points. And I'm, I'm really glad that
• 49:45
  you brought up the so-called crypto wars.
• 49:47
  And I'm not talking about cryptos and cryptocurrency, but
• 49:50
  the cryptography wars that you're right, Chris, it did
• 49:52
  start in the 90s. And I do believe that this is a
• 49:55
  continuation of that, right. It's the essentially the US
• 49:58
  government's attempt to stop their citizens from achieving
• 50:04
  sovereignty through cryptography.
• 50:06
  I'll put it to you. Like that.
• 50:08
  Anyways, I do want to show this article and then I'm gonna pass
• 50:12
  it on to Mick. There is a double standard.
• 50:15
  So again, when we do this, we get.
• 50:19
  Throw and in jail. When they do this, they get a
• 50:22
  fine. So this actually happened
• 50:24
  October 10th, 2024. TD Bank hit with record $3
• 50:28
  billion fine over drug cartel money laundering.
• 50:32
  So I didn't hear any TD Bank executives being thrown in jail.
• 50:38
  Why is there a double standard? Could it be that it has nothing
• 50:43
  to do with the laws themselves, but it has to do with the fact
• 50:47
  that they're losing their monopoly and control over the
• 50:51
  money? Mick, what are your thoughts?
• 50:55
  Yeah, I think the, the fact that they're against Bitcoin there,
• 50:57
  there is no doubt it's a system outside of their jurisdiction,
• 51:00
  outside of their direct control. And so anything they can do to,
• 51:05
  to stifle it, to make it more difficult for people to enter,
• 51:10
  it's, it's, it's something they will, they will try to do.
• 51:13
  What I think makes these cases all quite interesting is, is the
• 51:18
  focus on privacy, the focus and attention against privacy tools.
• 51:22
  Tornado Cash, Samurai, all these mixers are the, the, the one
• 51:28
  fight that they all have in common, all these different
• 51:31
  departments, right? The CDC, the, the, the, the, the
• 51:35
  aspect of the, the department of, of justice and so forth.
• 51:38
  They all we see privacy as a big a big threat.
• 51:42
  That's where that completes gives them no control over what
• 51:47
  is going on. They they cannot literally
• 51:48
  understand what is happening and that is what terrifies them the
• 51:51
  most. So rather than being a sweeping
• 51:54
  thing against Bitcoin, I think the fact that they focused
• 51:57
  particularly on privacy is I think mostly what is happening
• 52:02
  here and what's been happening so far to some extent that the
• 52:05
  samurai they, they do mention aspects around conspiracy for
• 52:09
  money laundering, I think, I think, but I think it's, it's
• 52:14
  mostly the aspect of, of price that they're trying to really
• 52:18
  attack. And that is something that, you
• 52:21
  know, Bitcoin doesn't entirely provide.
• 52:22
  Bitcoin is not entirely inherently private.
• 52:25
  It's just pseudonymous. So that's what I think, you
• 52:29
  know, something that Bitcoin should think about as something
• 52:31
  that, you know, is, is a battle that is somewhat being lost in
• 52:37
  Bitcoin, if we want to be frank, you know, we we haven't.
• 52:40
  And and if someone and I do this thing actually makes it even
• 52:44
  harder for anyone that wants to be building Bitcoin on a privacy
• 52:48
  layer, even even more challenged to do so.
• 52:53
  So yeah, interesting, interesting stuff, I think.
• 52:58
  Yeah, I think we have to pay attention to what's happening.
• 53:01
  I think the war is mostly on privacy, but I'm curious to hear
• 53:04
  your thoughts. Absolutely.
• 53:05
  Before I pass it on to Chris, guys help us break 300 likes
• 53:09
  within the show. I forgot to tell you guys
• 53:12
  earlier on, we're at two O 9, so at least help us break 250, but
• 53:16
  I think we can get to 300 now. That I'm telling.
• 53:18
  You guys so if you guys are enjoying the show so far,
• 53:20
  there's 500 of you guys watching live on YouTube smash that like
• 53:25
  button. There's 3000 of you guys
• 53:27
  watching live across all the platforms.
• 53:29
  So smash the like button, share the video really really helps
• 53:34
  push this. This channel forward.
• 53:36
  This message forward. This signal forward.
• 53:38
  Chris hit it. Yeah, One last thing I wanted to
• 53:40
  add. So Lola Leitz was the tweet that
• 53:42
  Nico is showing. She writes for the rate at the
• 53:45
  Rage Tech. So definitely check her out and
• 53:47
  support her. She's an independent journalist.
• 53:49
  She does great work on the ground with anything regarding
• 53:52
  privacy and use cases of Bitcoin.
• 53:53
  So just wanted to give her a shout out real quick.
• 53:56
  Absolutely. Yeah, No, she's done an
• 53:57
  incredible job covering this specific object.
• 54:00
  So yeah, I completely agree. Chris, let's give her let's give
• 54:04
  her a special shout out so guys, we will be right Black, we will
• 54:09
  be right back we're going to talk to Mick about the geyser,
• 54:14
  the geyser fund project geyser fund essentially guys, the TLDR
• 54:20
  is that it's crowdsourcing it's crowd, it's crowdfunding with
• 54:24
  Bitcoin crowdfunding for bitcoiners.
• 54:27
  So guys, stay tuned. We'll be right back.
• 54:29
  We're going to hit the. Culture.
• 54:30
  Let's check it out. I want to give a shout out to
• 54:33
  our sponsor Hive Digital Technologies.
• 54:35
  As the first ever public miner, Hive's been battle tested
• 54:40
  through every possible market and as the first with an AI
• 54:44
  strategy, Hive continues to redefine the future of
• 54:48
  sustainable energy. Also got to casually drop this
• 54:51
  in here. Hive consistently tops the
• 54:54
  industry in Bitcoin mine per. Exahash.
• 54:58
  They're lean and mean, they're green and clean, and they're
• 55:01
  changing the the game. Learn more by following them at
• 55:04
  Hive Digital Tech or check out their website,
• 55:07
  hivedigitaltech.com. All right, everybody.
• 55:22
  Before we start the culture conversation, I do want to give
• 55:26
  a shout out to our sponsor, the Bit Block Boom conference that's
• 55:31
  happening in Dallas, TX. April 3rd through the 6th of
• 55:35
  2025. This is going to be one of the
• 55:38
  best Bitcoin conferences of the year.
• 55:41
  The entire simply Bitcoin crew will be there.
• 55:43
  In fact, we will be doing the production.
• 55:45
  So if you want to meet Ruston Dante Opti, myself for some of
• 55:50
  your favorite Bitcoiners that are going to be attending the
• 55:52
  conference, you definitely don't want to miss this Bitcoin
• 55:55
  celebration. I know that Bitcoin culture is
• 55:58
  very online. I know that people like to talk
• 56:01
  online. They like to communicate online,
• 56:03
  but you cannot replace meatspace.
• 56:05
  So again, there's nothing like networking with your favorite
• 56:08
  Bitcoiners in the flesh. And again, this is one of the
• 56:11
  greatest opportunities if you're looking to get a job in the
• 56:14
  industry. Also, I hope to see you guys.
• 56:16
  I hope to meet some of you guys 'cause I just see a number on a
• 56:19
  screen and that tells me how many people are watching.
• 56:22
  But you know, one of my favorite experiences is when you know, I,
• 56:26
  I meet bitcoiners at conferences and they come up to me and
• 56:29
  they're like, dude, I watch your show and I put a face towards
• 56:32
  some of my audience. It's, it's, it's really, really
• 56:34
  awesome. So I hope to meet you guys in
• 56:36
  the in the flesh at Bitblock Boom 2025.
• 56:40
  And if you use promo code BBB 21 again, BBB 21, you get $100 off
• 56:49
  your ticket. Scan the QR code or check the
• 56:52
  link in the video description For more information.
• 56:55
  Anyways, I do want to open it up and I want to take advantage of
• 56:59
  the fact that we have the founder and CEO of the Geyser
• 57:03
  Fund Project joining us on the show today.
• 57:05
  We have Mick. Mick, welcome.
• 57:09
  Thanks so much man to clarify Co founder me and Stelios of build
• 57:14
  geyser already three years ago. It's been it's been a while we
• 57:16
  launched two years ago, but yeah, absolutely Geyser is
• 57:20
  essentially a platform to allow bitcoiners to to come together
• 57:23
  and support Bitcoin initiatives and make Bitcoin happen.
• 57:28
  It's ultimately about, you know, the fact that we huddling is
• 57:32
  great. We all love it.
• 57:34
  Huddling is what transforms and rewires her brain to learn about
• 57:37
  savings. It's absolutely essential, but
• 57:40
  it's also essential to you know, for if you think about Lola,
• 57:44
  what she's doing with we were just talking about her, her
• 57:47
  journalism, right That's not, you know, she publishes his work
• 57:50
  open source for free, but her work is invaluable, right And so
• 57:54
  actually you can go on geyser and support Lola the range on
• 57:58
  geyser. There's so many projects,
• 58:00
  there's so many Bitcoiners that are doing incredible work.
• 58:02
  A lot of it is educational. A lot of it is actually free,
• 58:06
  like free work, right? Literally working for all of us
• 58:09
  spread Bitcoin adoption and it's it's essentially a great way to
• 58:16
  to support the Bitcoin ecosystem, push it forward and
• 58:20
  enable Bitcoin like we mentioned before, as a grassroots
• 58:23
  movement. So I don't want to be doing too
• 58:26
  much shilling, but it's really this it's really just helping
• 58:29
  support the Bitcoin economy, the Bitcoin adoption happening all
• 58:32
  around the world. It's basically Bitcoiners saying
• 58:36
  let's get out of our of our of our, of our armchairs and let's
• 58:41
  actually get our hands dirty. Make Bitcoin happen around the
• 58:44
  world, whether it's supporting Maya, who's running for
• 58:47
  president, a Bitcoin or running for president in Suriname, or if
• 58:51
  it's helping me pay a Bitcoin, teach Bitcoin to hundreds of
• 58:55
  thousands of people around the world.
• 58:57
  There is so much work to be done and Kaiser just helps us all
• 59:02
  come together to support these initiatives that are pushing
• 59:06
  Bitcoin adoption forward. Yeah, Mick and I'll I'll let
• 59:09
  you, I'll help you shill because he said you're I know you're a
• 59:12
  very humble guy, but it is a very cool platform.
• 59:14
  I know that people have launched books.
• 59:16
  They've kind of used it as Kickstarter.
• 59:18
  I know a Bushido for Bitcoin by Alex Feskey was launched on
• 59:21
  Geyser. I know we've got, you know, our
• 59:23
  good buddy Tatum on here between two ASICS.
• 59:26
  You can support independent. Journalists such as Lola or Max
• 59:29
  DeMarco or plug music on Twitter and stuff.
• 59:33
  So I know there's so many great things.
• 59:34
  I know BTC trading cards are on here, but it's a platform that I
• 59:37
  always love and use a lot. I I'd have never spun up
• 59:39
  anything myself, but I try and donate and get back to the
• 59:42
  community with the various initiatives through here.
• 59:45
  Amazing. Thanks, man.
• 59:46
  Yeah, absolutely appreciate that.
• 59:48
  And I think it's that the point is this right is that and it's
• 59:52
  the the beauty is the beauty of the donations.
• 59:54
  Donations are an ancient technology, an ancient financial
• 59:58
  technology, and we're so used to today with, you know, crypto
• 1:00:01
  tokens and with NFTS and all this stuff happening around.
• 1:00:06
  You know, to always consider like, oh, you know, what am I
• 1:00:09
  going to get back? The reality is Bitcoin already
• 1:00:12
  gives us back so much. Bitcoin is a gift that we are
• 1:00:18
  reaping the fruits of. Bitcoin is making us rich by
• 1:00:21
  being this incredible technology.
• 1:00:23
  And so the idea is that actually making us better off.
• 1:00:26
  It can give a small thing back, obviously voluntarily to the
• 1:00:30
  community to help push Bitcoin adoption forward.
• 1:00:33
  And so it's a, it's a, the nation works beautifully hand in
• 1:00:36
  hand with Bitcoin, as is NGU technology.
• 1:00:40
  As the number go up, you know, donations go up.
• 1:00:44
  But also an interesting kind of way of seeing this is actually
• 1:00:48
  that NGU is only possible if the number of users in the Bitcoin
• 1:00:53
  network goes up. The NGO narrative is very
• 1:00:56
  powerful in making us believe that Bitcoin is going to go up
• 1:00:59
  forever and ever. But the reality is Bitcoin is
• 1:01:01
  only going to go up forever and ever because people believe it
• 1:01:04
  will go up forever and ever, which is the, the number of
• 1:01:07
  users joining the network. And a lot of us join because NGO
• 1:01:11
  and that's fine. But then we learned the, the
• 1:01:13
  deeper reasons why Bitcoin exists and we learned that
• 1:01:15
  there's, it's more than just then, then the number go up.
• 1:01:18
  It's actually a freedom technology, right?
• 1:01:20
  And so the more we can spread Bitcoin and the principles of
• 1:01:22
  Bitcoin, the more we have a resilient system for Bitcoin to
• 1:01:26
  flourish into the long term. And so that's why Geyser has a
• 1:01:31
  platform to push those who are doing the work, those who are,
• 1:01:34
  who are really, you know, being missionaries for Bitcoin and
• 1:01:38
  enabling education and, and running for president and doing
• 1:01:43
  books and making Bitcoin fun, right?
• 1:01:45
  So, yeah, again, I, I, I urge everyone to, you know, and, and
• 1:01:49
  with Geyser, really the key aspect is let's take action,
• 1:01:53
  right? Let's take action.
• 1:01:54
  Bitcoin is not going to win if we just sit back as much as we'd
• 1:01:58
  love, we'd love for it to be the case, but the more we all take
• 1:02:03
  ownership and, you know, get out there and spend our time or
• 1:02:07
  spend our sats, the more early Bitcoin adoption will come.
• 1:02:10
  Actually, it spoke about Saifedim Amuse about this and he
• 1:02:13
  actually I got him to agree with me that huddling is great, but
• 1:02:19
  actually there's a there's a case to and actually there's a
• 1:02:23
  case of spending some of your Bitcoin that you've made by the
• 1:02:26
  appreciation of Bitcoin in the 1st place to essentially make
• 1:02:30
  Bitcoin adoption happen sooner. It's Bitcoin is probably going
• 1:02:35
  to succeed anyway, but if we want to have to see see Bitcoin,
• 1:02:38
  a Bitcoin will happen sooner than spending some of the
• 1:02:42
  Bitcoins that spending some of those bitcoins towards say films
• 1:02:46
  that are educating hundreds of thousands of people around the
• 1:02:49
  world and Bitcoin education projects and people running for
• 1:02:53
  presidents that are Bitcoiners. Well, that is going to have a
• 1:02:56
  big impact. And I do have one good story
• 1:02:59
  actually to tell you about. But maybe I'll I'll stop you
• 1:03:01
  from all. So Mick, I have a question for
• 1:03:04
  you, which is, you know, I think the part that wasn't, you know
• 1:03:09
  what, it's obvious to us, but perhaps it's not obvious to
• 1:03:12
  everybody. Anybody can use this platform to
• 1:03:16
  like Crowdsource essentially, if they have an idea for a project,
• 1:03:20
  if they have an idea for a company, if they have an idea
• 1:03:23
  for a film, right? You can be a rando and you can
• 1:03:26
  go on geyser and you can basically say send me SAT so I
• 1:03:31
  can build this dope thing. Could you talk a little bit
• 1:03:33
  about that? Yeah, absolutely.
• 1:03:36
  That's a really good point actually.
• 1:03:37
  Yeah, it's quite powerful and quite empowering to to realize
• 1:03:43
  that through Geyser anyone can be a Bitcoin creator can take a
• 1:03:49
  role in the Bitcoin revolution, right, which it is a revolution,
• 1:03:54
  a peaceful revolution. So on Geyser, anything peaceful,
• 1:03:57
  anything legal, anything only pro Bitcoin can launch a project
• 1:04:01
  on Geyser and get sats from the community.
• 1:04:04
  Now guys are alone has a community of ardent bitcoiners.
• 1:04:08
  There is the Bitcoin community that is also quite, you know,
• 1:04:11
  ardent and and happy to support really cool projects that
• 1:04:14
  support Bitcoin. But it is also important to have
• 1:04:16
  your own community, right. So it's also always good to
• 1:04:19
  bring in your, you know, your plebs, your friends, your
• 1:04:23
  family, people that love what you're doing and help you help
• 1:04:27
  you kick started. And then as it gradually grows,
• 1:04:31
  as it gets more proof of work, as you, you put yourself out
• 1:04:34
  there and show the impact you're having, then more and more
• 1:04:37
  Bitcoiners will be, will be joining the ranks of
• 1:04:39
  contributors and as a geyser are there to also support you in
• 1:04:43
  that journey. We do podcasts.
• 1:04:45
  We can, you know, learn more, more about your project.
• 1:04:47
  We can spread your, your news across our, our, our followers
• 1:04:50
  and our newsletter. And so ultimately it's about
• 1:04:53
  taking action and and the reputation that you can, you may
• 1:04:59
  not be starting with, but it's a repetition that you can grow
• 1:05:01
  with us and through your social media following.
• 1:05:06
  Incredible. So I have a question for you,
• 1:05:09
  Mick, right, which is, you know you were talking about this
• 1:05:13
  earlier on the show, you were talking about the Geyser
• 1:05:16
  Guardian. So you teamed up with the BTC.
• 1:05:21
  Is that correct? The.
• 1:05:22
  BTC trading cards crew the. Yeah, yeah, exactly.
• 1:05:25
  So if you go on the left side part of the bar and you click on
• 1:05:28
  Guardians, you should be able to see the full experience.
• 1:05:31
  So yeah, we teamed up with No Good, who's a designer and
• 1:05:35
  Bitcoin trading cards and Hodler's official.
• 1:05:38
  And basically you can become a character, a guardian of geyser.
• 1:05:42
  So it's a, it's an interactive experience, kind of gamified.
• 1:05:46
  And the point is to get people to kind of, to bring in fun, to
• 1:05:50
  bring in fun into supporting geyser and supporting geyser
• 1:05:54
  creators. So we're selling digital perks,
• 1:05:57
  physical perks in exchange of SAT's.
• 1:06:01
  And the point is, is that 21% of all the sales donated are going
• 1:06:06
  to the creators on Geyser, they're going to Geyser Geyser
• 1:06:09
  grants. So if you buy any of these, any
• 1:06:14
  of these perks, you'll be able to support the Bitcoin ecosystem
• 1:06:17
  and support Geyser as well and receive these limited edition
• 1:06:21
  beautiful perks. This here is a Geyser manifesto
• 1:06:24
  that highlights what what we stand for, what Geyser stands
• 1:06:28
  for, what our principles are. And you know, if you have time
• 1:06:32
  to read it at some point, that's really helps to highlight why
• 1:06:35
  Geyser was created in the 1st place, which was which is what
• 1:06:37
  we've talked about already. That make make Bitcoin adoption
• 1:06:40
  happen is really why why we're here.
• 1:06:42
  Let's give it a let's give it a read, right?
• 1:06:44
  So geyser manifesto. In a world where nihilism and
• 1:06:48
  pessimism about the future prevail, Bitcoin brought us
• 1:06:52
  here. But we've got a slope.
• 1:06:55
  What O brought O Nico can't read.
• 1:06:58
  Hashtag Nico can't read. OK, let me start that one more
• 1:07:01
  time. Back up in a world where
• 1:07:03
  nihilism and pessimism about the future prevail.
• 1:07:06
  Bitcoin brought us hope, not just hope for a world.
• 1:07:09
  Built on sound, money but hope in the power of action to create
• 1:07:13
  meaningful change. The world is malleable and
• 1:07:16
  individuals have the power to reshape it.
• 1:07:19
  The cypherpunks understood this. They didn't wait for permission.
• 1:07:23
  They built the tools of freedom. In 1993, the Cypherpunk
• 1:07:28
  Manifesto declared Quote Cypherpunk.
• 1:07:31
  'S. Right code.
• 1:07:32
  In 2009, Satoshi Nakamoto released Bitcoins code.
• 1:07:37
  Bitcoin was born out of action and a will for change.
• 1:07:40
  The vision has always been to lay sound sound foundations for
• 1:07:44
  the digital era, moving away from the predetermined path of
• 1:07:48
  totalitarian control and censorship and towards
• 1:07:52
  decentralization, openness, freedom and self sovereignty to
• 1:07:56
  bring about unimaginable wealth and human flourishing.
• 1:08:00
  For Bitcoin sound principles to take hold in the world, change
• 1:08:04
  must happen at all layers of society.
• 1:08:07
  Developers, educators, writers, film makers, artists, and entire
• 1:08:12
  communities all have a role to play in building the Bitcoin
• 1:08:15
  world. No act is too small.
• 1:08:17
  Small actions compound into global grassroots movements.
• 1:08:22
  Bitcoin is a peaceful revolution, but peaceful does
• 1:08:25
  not mean passive. It's time to act.
• 1:08:27
  Are you a Bitcoiner? Then you are the protagonist of
• 1:08:30
  the story and the tools are in your hands.
• 1:08:33
  What will you do to help bring about Bitcoin adoption?
• 1:08:38
  Geyser team? Well, I mean, dude, that's
• 1:08:41
  incredibly well written. The Geyser Guardian.
• 1:08:44
  The Geyser Guardians. The warrior, the knight, the
• 1:08:50
  king, the legends. I'm gonna say that.
• 1:08:53
  Chris Alamo is is the legend. I'm gonna say he's a legend.
• 1:08:58
  You have to show it though. You have to.
• 1:08:59
  You have to screen. Share Am I?
• 1:09:01
  Am I showing it? All right here?
• 1:09:02
  Let's let's show it. Let's pull it out.
• 1:09:03
  Because you have to see, you have to see what the actual,
• 1:09:07
  what it actually entails. So if you click on that.
• 1:09:10
  Oh, you have to. What do you who do you think
• 1:09:11
  looks more like Chris? Yeah, it's this is like a Chris
• 1:09:15
  looking guy. The legend.
• 1:09:16
  It's fine. You can, you can, you can hover
• 1:09:18
  with it, but if you click on it, you can see what it actually,
• 1:09:22
  what it actually entails. So you've got T-shirts, you've
• 1:09:25
  got, you've got with these characters, right?
• 1:09:28
  And they're all limited edition based on that.
• 1:09:30
  So the, the legend, there's only 21, the king, there's 121.
• 1:09:34
  The, the Knights, there's 2000. And they all come with these
• 1:09:39
  jerseys, T-shirts and Bitcoin trading cards as well.
• 1:09:43
  So this is just simply a way of, of us giving back and
• 1:09:46
  recognizing those who are contributing towards Bitcoin and
• 1:09:49
  giving them a like a like a time stamp, time stamped experience
• 1:09:54
  of of of of Bitcoin. That's awesome, dude.
• 1:09:58
  Yeah. I mean, this is really cool.
• 1:10:00
  Very cool project. And you know, I, I love, I love
• 1:10:05
  watching Bitcoiners grow and, you know, support fellow
• 1:10:09
  Bitcoiners. So guys, go check out geyser dot
• 1:10:12
  funds. Go check out that the URL geyser
• 1:10:15
  dot fund. It's also on the screen right
• 1:10:17
  now below Mick's name and you can go check it out.
• 1:10:20
  If you're interested in raising money, Crowdsource crowdfunding
• 1:10:25
  via Bitcoin, go check these guys out.
• 1:10:28
  They're they're freaking killing it.
• 1:10:30
  Anyways, guys, this was the Friday episode of simply Bitcoin
• 1:10:33
  live for December 20th, 2024. I'm your host Nico, my Co host
• 1:10:39
  today, Chris Alamo and of course our special guest.
• 1:10:42
  We got Mick from geyser dot fund.
• 1:10:46
  Love you all, go outside. Touch some grass, eat some
• 1:10:48
  steak, be with the family, smash the like button and we'll see
• 1:10:52
  you guys on Monday for a brand new episode of the last week, I
• 1:10:56
  think the last Simply Bitcoin Week of 2024.
• 1:11:00
  Until the 2025 madness begins. Love you all.
• 1:11:04
  We'll see you guys on the next one.
• 1:11:05
  Peace out. Today's episode was brought to
• 1:11:08
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:11:11
  mission to enable financial independence.