Latest / Simply Bitcoin / Why $100k Bitcoin by End of the Year is Probable | EP 1078

Transcript

Why $100k Bitcoin by End of the Year is Probable | EP 1078 · Simply Bitcoin

0:19
Thank you for taking our question.
0:21
My name is Barbara. I'm a mom of three, a
0:25
grandmother of seven and three great grands, a registered
0:32
nurse, retired, retired nurse. So I know the cost that goes
0:39
into raising children and running a household.
0:44
People just can't survive. Now, how are you going to bring
0:49
down the cost of food and groceries?
0:53
Good, very good. Thank you.
0:57
So we have to start always with energy.
1:01
Always. I don't want to be boring about
1:03
it, but there's no bigger subject.
1:05
It covers everything. If you make doughnuts, if you
1:07
make cars, whatever you make, energy is a big deal and we're
1:11
going to get that. It's my ambition to get your
1:13
energy bill within 12 months down 50%.
1:17
If I can do that, we've done a hell of a job.
1:19
Five O 5, not 1550. Interest rates are going to
1:26
follow. And actually they're going to
1:27
follow for another reason. The economy is now not good and
1:31
interest rates, you'll see they'll do the rate cut and all
1:33
the political stuff tomorrow, I think.
1:35
And you know, will he do a half a point?
1:37
Will he do a quarter of a point? But the reason is because the
1:40
economy is not good. Otherwise you wouldn't be able
1:41
to do it. But we're going to get interest
1:43
rates down and we got to work with our farmers.
1:46
Our farmers are being decimated right now.
1:49
Yeah, we're going to assemble Bitcoin live, your number one
1:51
source for the peaceful Bitcoin revolution.
1:53
We cover breaking news culturomatic warfare.
1:54
We will be your guide through the separation of money and
1:57
state. We are streaming live from
1:59
Unconfiscatable 2024 from the real world suite here at the
2:02
Gold Spike in Las Vegas. Of course, courtesy of Tone
2:06
Vase, who's sitting to the right of me.
2:08
Dude, the first day of Unconfiscatable yesterday epic
2:12
poker tournament made it to the final table.
2:15
Awesome. Yeah, you came in 3rd and the
2:20
winner was Phil Locke, Professional.
2:22
Professional. Poker player.
2:24
He's been in four out of five of the poker tournaments.
2:27
Great guy. Awesome.
2:30
He won the watch. Now there's four of them out in
2:33
the wild. Looks like a poker chip and
2:37
yeah, that's what everybody was gunning for and that you just
2:40
missed out on the money. So if the IRS is listening, Nico
2:43
didn't cash out anything. I I won.
2:45
I won last time, though, so I've only played two poker
2:48
tournaments and I've made it to the two final to to to final
2:51
tables. So not, not a bad record so far.
2:54
But anyways, I do want to address the cold opening and I
2:57
want to take advantage of the fact that tone's here.
3:00
I, I, I keep seeing the same thing.
3:02
And like, you guys know my perspective on Trump.
3:06
You know, of course he's not pure in the sense of like, he's
3:09
not a pure Bitcoin maxi, but I think he'd be positive if he got
3:12
elected president from the regulatory perspective in the
3:15
US. That's why I support him.
3:17
But again, this whole concept where like citizens and people
3:22
are asking politicians how they're going to lower prices is
3:27
absolutely insane to me for a couple of reasons.
3:30
Number one, it's government. It's literally government's the
3:33
reason of, of, of why prices are rising in the 1st place.
3:37
And #2 you can start changing your unit of account today
3:43
without asking for permission and putting your money into, I'm
3:46
going to borrow the word unconfiscatable wealth.
3:49
And you don't have to wait for Trump or Kamala to lower the
3:54
prices. If you start using Bitcoin as a
3:56
unit of account, everything gets progressively cheaper, including
4:00
real estate, gold, SNP, everything just gets cheaper for
4:04
you over a long period of time. So I still think we have a
4:07
tremendous amount of work to do. But I wanted to show you guys
4:10
that cold opening of Trump, cause we've shown you cold
4:13
openings of Kamala. But it, it, it's the same thing.
4:16
Like it's absurd. Like people shouldn't be asking
4:18
politicians how to lower grocery bills.
4:21
People should be asking how can I help myself and the answer is
4:25
Bitcoin and we still have a lot of work to do as long as that
4:29
question is still somewhat mainstream.
4:30
Anyways, Tone, what's your take on this?
4:32
Yeah, no, that's actually a great take.
4:33
I I was listening to the clip as well.
4:36
I have my comments, but I think you just made better ones.
4:39
I will say Bitcoin as a unit of account, that's going to be a
4:42
little bit different, OK, That means you're pricing things in
4:46
Bitcoin but using Bitcoin as a currency against the devaluating
4:51
currency like the US dollar versus Bitcoin.
4:53
If you're going to use Bitcoin as unit of accounts, like you
4:56
tell your landlord, hey, I'm going to pay you .01 Bitcoin for
4:59
the rest of the year and then big price goes up against the
5:02
dollar and now you're paying $8000 in rent when it should
5:05
have been like 1000. If Bitcoin goes up 8X, there is
5:08
one place in the world that will let you use Bitcoin as a unit of
5:12
account. That is Prospera in Rotan.
5:16
That's it's the first private city in the world and they can
5:20
set their own monetary policy in that city and they're using
5:23
Bitcoin as legal tender. They're allowed to.
5:27
They were actually, they did it before El Salvador did it.
5:30
And they also let you have a contract with, well, the
5:34
government entity that runs the city.
5:36
And if you want to denominate in Bitcoin, they'll let you.
5:39
But now you're committed to paying that amount of SAT for
5:43
whatever you're paying, whether it's your the small tax on the
5:48
land, if you buy it there or your rent or whatever, or the
5:53
rent of your business. You can denominate in Bitcoin if
5:55
you like. I wouldn't recommend it, but you
5:57
can. Oh.
6:02
All right about that. And I do want to bring up my
6:03
legendary Co host, Optimus Fields.
6:05
And Tone's been telling me about Rotan, by the way, it's this
6:08
beautiful island off the coast of Honduras.
6:10
It's just it's it's, is it a secret?
6:14
No, it's not. They actually presented at one
6:18
of the conferences there. It was them and Madera and one
6:22
more city that I think is at Botan in Asia.
6:27
And it was those three cities. Samsung Mao brought them each to
6:30
the stage for like a 5 minute pitch of governments.
6:34
This is before El Salvador governments that are looking to
6:37
implement Bitcoin and Rotan. That was a project that started
6:42
in like 20/17/18. That's awesome man.
6:45
And I also, I also want to give a shout out to, of course, my
6:47
legendary Co host Optimus Fields Opti.
6:50
I mean, we've been covering a lot of the politics just because
6:53
it is an election year and you know, we are a Bitcoin channel.
6:56
It's like the first Bitcoin election.
6:59
But I, I do want to mention today's episode specifically and
7:03
tone you. We're going to rely on your
7:04
expertise a lot for this, but we're essentially going to try
7:07
to make the case it is a bit speculative that the Fed
7:11
lowering rates will be potentially bullish for Bitcoin
7:15
heading into Q4. We're going to talk about that
7:19
later during the news segment. But first Opti, how you doing
7:21
this morning? I am doing wonderful.
7:25
It sounds to me that I might be doing better than you are this
7:28
morning considering you had a long night.
7:30
But other than that, man, life's great.
7:32
Everything's wonderful over here.
7:33
I was watching the Sailor safety Dean interview.
7:36
I, I didn't fully get through it.
7:37
I'm like an hour and 45 minutes in or something.
7:40
So, you know, just catching up on some Bitcoin content over
7:43
here. It's been a pretty slow morning.
7:45
I ran out of coffee, started to go run and get some coffee, but
7:48
other than that everything's great and you go.
7:50
Absolutely, man. All right, guys, before we get
7:52
into the show, Opti, but what are we going to talk about
7:54
during the culture segment now that we have a very special
7:56
guest joining us today? I mean, I was kind of relying on
7:59
you. So, all right, all right, well,
8:00
I want to talk. I want to talk about all things
8:02
unconfiscatable. Let's talk about Rotan and you
8:06
guys are changing the format. It is a little bit bittersweet
8:10
tone because you know, this was one of my favorite conferences
8:13
of the year, but you guys are changing it up.
8:15
You're going to be doing only poker tournaments.
8:19
Yeah. So it's I, I think anyone that's
8:22
ever been to unconfiscated able, it is their favorite conference
8:25
for everyone. Unfortunately, I can only get
8:28
about 100 to 200 people and the attendance been going on over
8:32
time. Competition to make conferences
8:34
is so hard. When this started, I started
8:37
because there were no Bitcoin conferences and now there is 50
8:40
a year that are Bitcoin only or pretend to be Bitcoin only, that
8:44
are able to advertise as Bitcoin only, that are getting all the
8:48
people attending. So it just becomes hard to
8:51
organize them. So the new plan for
8:53
Uncompliscatable, I want the brand to stay alive and it's
8:57
going to be a poker tournament. It will be more than one a year.
9:00
The next one is going to be in El Salvador during adopting
9:04
Bitcoin and then we'll bring it to Bit Black Boom.
9:06
And then because the big Bitcoin, I still can't believe
9:09
they named their conference Bitcoin.
9:12
They're coming to Vegas and I'm very, very familiar with Vegas,
9:15
having it here all the time. I will do the tournament again
9:18
here in Vegas. So I'm thinking maybe three to
9:20
four of these tournaments a year as a sub event or other events.
9:25
Absolutely both. I'm really looking forward to
9:27
it. And of course guys, if you
9:28
haven't signed up to Tone Baze's poker tournaments, they're
9:32
absolutely awesome. I've only done 2 poker
9:35
tournaments in my life, I'm a noob and I made it pretty far so
9:39
both times too, so they're pretty awesome.
9:42
Anyways guys before we jump into the show, I do want to give a
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At the time of recording, the Bitcoin price is $59,780 sats
11:50
per dollar. 1673 block heights 861,868 blocks to having 188,132
11:59
having estimate March 26th, 2028 Total Lightning network capacity
12:04
5053 BTC capacity value 302,000,000 realized monetary
12:09
inflation 1.36% market capitalization 1.18 trillion
12:15
Bitcoin versus gold market cap 6.64%.
12:19
I would say in the grand scheme of things we're just getting
12:21
started anyways, BlackRock released pretty crazy report
12:24
this morning and I kind of want to tie this in with some of the
12:27
latest moves with sailor and of course we have tone here to
12:30
break it down for us. But first, this is pretty crazy.
12:33
This was in this is included in a report that was released by
12:38
BlackRock. We're going to go over it fully
12:40
on tomorrow's episode, but basically it says what Bitcoin
12:43
made possible fixed maximum supply of 21 million units with
12:47
supply growing, declining every four years, digitally native and
12:51
borderless permitting near instantaneous global transfers
12:54
of value. First, truly Open Access global
12:57
monetary system. Now, this is something that all
12:59
Bitcoiners know, but when the ETFs got approved and when Larry
13:03
Fink did, the media circuits basically, you know, saying the
13:07
gospel of Satoshi on legacy media, it basically legitimize
13:13
it in the eyes of traditional finance.
13:15
And this is the reports that they're sending traditional
13:17
finance. And now you're starting to hear
13:19
different banks starting to offer the ETFs to their clients.
13:24
They're selling the the ETF products.
13:27
Now, of course, this isn't spot Bitcoin, but I would still think
13:30
it's overall bullish for the price anyways.
13:33
Also breaking news, Michael Saylor continues to use the
13:37
infinite money glitch to continue to stack more Bitcoin.
13:41
And the latest news is Michael Saylor's micro strategy plans
13:45
another 700 million convertible note issuance.
13:49
And here are more specifics here by Bitcoin Overflow Micro
13:53
Strategy Convertible note details are in offered bumped to
13:57
875,000,000. Check out the interest rate at
14:00
.625% converts at a 40% premium to current share price, a nearly
14:07
90% reduction in interest rate on the $500 million rolled over
14:11
from the 2028 Senior secured notes.
14:14
Fantastic terms in my opinion, since not all use is BTC.
14:18
So I mean, Michael Saylor continues to use the infinite
14:21
money glitch. And of course, it seems like
14:23
this idea seems to be getting more and more popular.
14:27
Cathedra announced that they're shifting their focus from mining
14:30
to Bitcoin acquisition strategy. But I think Yellow has a really
14:35
good point here. And this is what I want to talk
14:37
to Tone Baze about. But Yellow says, OK, I'm new to
14:40
this crypto thing but you're telling me after all these ETFs
14:44
and billionaires like Sailor Guy, not even one puts 40K to
14:48
pump it above 100K Bitcoin is dead.
14:51
And then I think Bitcoin for Freedom has a really good point.
14:55
He says the 2020, the 2020 Bitcoin cycle did not play out
14:59
in a natural way like the previous cycles.
15:01
They printed 40% of the total USD and BTC on exchanges started
15:06
falling for the first time, yet we didn't get a blow off top
15:08
like previous cycles. The China ban, future ETFs,
15:11
Celsius, FTX basically stopped the bull run.
15:15
This means that we don't know what the real top should have
15:17
been. This also means that this bull
15:19
run could almost be two in one bull run.
15:22
So I mean that's a that's a pretty big claim.
15:25
I tend to agree with it. I do agree that the last bull
15:27
run was cut short. So I'm going to pass it on to
15:29
tone tone. First, let's talk about the
15:32
Sailor Infinite money glitch. How does he continue to do this?
15:36
He's like leveraging his company, getting very, very
15:39
cheap debt to buy Bitcoin. The price of his stock goes up
15:44
and then he rinses and repeats. Right.
15:47
It'll be interesting how that eventually unwinds.
15:51
And my ultimate concern again, I'm going to go back to
15:56
unconfiscatability. The problem is, is the Bitcoin
15:59
that Sailor has is actually confiscatable.
16:02
That's where my concerns come in.
16:05
The Bitcoin and BlackRock, the Bitcoin at Coinbase custody, the
16:08
Bitcoin at the Fidelity Grayscale.
16:13
Not to mention the US government still holds like 200,000
16:17
Bitcoin. Germany sold theirs.
16:20
And but this is the concern, right?
16:23
So, yeah, he can keep doing it and the government doesn't care.
16:27
But look what's happening with Elon Musk, right?
16:29
He's the richest guy in the world.
16:31
And I'm kind of concerned because there's nothing stopping
16:35
the US government from doing to Elon Musk what the French
16:38
government just did to Paolo Durov, who for some crazy reason
16:43
decided to get a Western European passport.
16:47
I did a whole show. I'm not on my channel because my
16:50
channel is just about to be politics.
16:52
And I literally explained the advantages and disadvantages of
16:56
multiple passports. You always want at least a
16:58
second one, maybe a third one. But as with each additional
17:02
passport, your advantages of having more go down, your
17:06
disadvantages of having more go up, especially if they're from
17:09
the wrong countries that you end up visiting even on a stopover.
17:13
So it doesn't matter to the federal government how much
17:15
money Elon Musk has. He can be a trillionaire and one
17:19
day he's done right. They arrest him to take his
17:23
money. Now, the normal concern is that,
17:26
well, if America does that, then all the other billionaires will
17:30
flee. You know, the, the Jeff Bezos,
17:33
the Zuckerbergs, the Bill Gates, Soros.
17:37
But guess what? These guys are on board with the
17:40
Democratic, the left wing side of the party.
17:44
So you just call all your other billionaires up and say, hey,
17:47
how would you guys all like a piece of Elon Musk's companies
17:51
and suddenly all these other billionaires are not fleeing
17:54
with their billions. They're like, let's chop that
17:56
up. OK, So that's my only concern.
17:59
And I think government knows this.
18:01
So they don't really care because of sailor and Bitcoin
18:04
ever does become a real problem. They think, I think, they think
18:08
they can just take it. Yeah, and that's a really good
18:10
point, right? Like the eight out of the 9 ETFs
18:14
are all custody with Coinbase, Michael Saylor's Bitcoin stack.
18:19
My micro strategy is custody with Coinbase.
18:21
So it's it is a huge honeypot. Now I wanted to get to that
18:24
second part of the comment. Also, I want to give a shout out
18:26
to the 858 of you guys watching live between YouTube and X and
18:31
of course the 100 or so watching 100 or so watching on Rumble.
18:36
And of course we are streaming on Noster as well.
18:38
So shout out to you guys as well on Noster.
18:42
But I do want to get your thoughts on BT on Bitcoin for
18:47
Freedom's take on 1st regard, which was the idea that the 2020
18:51
cycle was cut short and that the the upcoming cycle, of course,
18:57
this is heading into speculative territory, but so be it.
19:00
Let's let's, let's have that conversation.
19:03
We might not have those same issues like we did in the
19:06
previous cycle. So what are your opinions on
19:09
those two things? I do think that the 2020 cycle
19:13
was cut short. I was very bullish in November
19:17
of 2021 when we were breaking the prior highs of 65 and we hit
19:22
like 67 or 68 or something. I was very bullish at those
19:25
stops for, well, technical analysis reasons and the cycle
19:31
reasons. Probably one of my bigger
19:33
mistakes in evaluating the price of Bitcoin for a decade now, how
19:38
bullish I was in that area because I did expect it to go up
19:41
higher. I, I didn't expect crazy
19:43
numbers. I know a lot of analysts were
19:45
calling for 300,000. I was in the $90,000 range.
19:50
Let's talk about it when it gets to like 8892 and so, but still,
19:56
I do think it was cut short, but it's not going to be easy.
20:01
So what I'm expecting this time is eventually there's going to
20:04
be a liquidity well. Crunch, basically the exchanges
20:10
keep bleeding Bitcoin. The exchanges that you that are
20:13
used for price discovery, they are bleeding Bitcoin and they
20:17
don't have a lot on there. And one of these days it's just
20:20
going to they're just not going to be enough.
20:22
And I think Bitcoin will potentially have an ability to
20:25
double in price in a short amount of time.
20:28
But when that happens, if Bitcoin goes from say 75,000 to
20:34
150,000 within a matter of weeks, like what happened in
20:37
2017 at the end, after that, there's going to be a lot of
20:41
people waiting to cash out. And it can go the other way.
20:44
And the big difference between the current ETFs and the ETFs
20:48
that we had at the time is that Grayscale, it's the original ETF
20:53
GB TC. It was like Hotel California,
20:56
Bitcoin goes into custody, it can't come out.
21:00
That's why it was trading a below premium like crazy because
21:04
that Bitcoin never hit the market.
21:06
When that happens after the next blow off top and people start
21:10
selling the Bitcoin, these ETFs are going to dump Bitcoin on the
21:13
market. Now it's going to help Bitcoin
21:16
go up a lot, but it's also going to drive it back down after.
21:19
So if we start going up exponentially, expect a 2017
21:26
crash, which will probably be faster because the ETFs will be
21:30
dumping. I believe that.
21:31
I believe that yeah. It's but it it is in and I'm,
21:34
I'm glad that we're on the same page because I think a lot of
21:37
people got blue balled for the 20/20/2020 cycle.
21:42
And you know, there's a multitude of reasons.
21:44
I come from the camp of the China mining ban had a huge
21:48
impact. The I said that actually that
21:51
unconfiscated. Well, I think it was like
21:52
20/20/2022 and I was hosting a panel with Ben Gagnon and, and
21:57
I, my intro was was about the China manning ban because it
22:00
happened that year. Anyways, Opti, I do want to get
22:03
your take. You are here my friend.
22:05
And we did talk about a variety of subjects, specifically Sailor
22:09
continuing to use the infinite money glitch to buy more
22:12
Bitcoin. And of course, you know,
22:15
everyone was kind of let down by 2020.
22:17
But that tweet makes me feel bullish because at least some
22:20
people are very optimistic about 2025.
22:23
Yeah. Well, first I do want to touch
22:25
on the the BlackRock stuff and I know we're going to cover it
22:27
tomorrow, but it really just goes to show that they are
22:30
unleashing their thousands of institutional asset managers out
22:34
there to try to educate people of the importance of Bitcoin.
22:37
Of course, a lot of people don't really like BlackRock and
22:39
totally understandable, but they are unleashing their army of
22:42
smart people out there quote UN quote smart out there to educate
22:46
their customers on Bitcoin. So that's cool.
22:49
We'll we'll see more signal coming out and we'll see
22:51
response to that. The next one is the same thing I
22:54
say every time with the sailor stuff.
22:56
I I wish I had the infinite money glitch.
22:58
I think every single one of us wishes we had the infinite money
23:00
glitch and the interest rates on those loans.
23:03
It's that's just like free money as far as I'm concerned, or
23:05
rather free Bitcoin. So sailor just killing it here
23:09
and it's going to be very interesting to see how other CE
23:12
OS of corporations try to follow.
23:14
We're seeing, you know, cathedral kind of do the same
23:16
thing, which is we've seen a recent trend that more
23:19
corporations are also at the very least looking into the
23:22
micro strategy strategy, and I'm sure that's going to explode in
23:25
2025. And then the last stuff, without
23:27
rehashing everything you guys said, I'm also kind of on the
23:31
side that I think we have some pent up demand that is going to
23:35
make the Bitcoin price run very high at a very short time frame.
23:40
Will we see crazy numbers this year?
23:42
I don't know you know, I I don't have a magic.
23:45
I'm just kind of seeing that we will hit that 6 figure range at
23:48
some point in this next leg up. Do we know how high it goes?
23:51
No idea. Do we know how quickly it stays
23:54
up there? Most likely it won't stay there
23:56
that long and we will be back into another four year cycle.
24:00
So just make sure you don't over leverage yourself guys, just
24:03
just make sure you're stacking taking Bitcoin into self
24:06
custody, all the good stuff we talk about here because you
24:09
don't want to wreck yourself. You want to make sure you have a
24:11
long term position in Bitcoin and that's the name of the game.
24:14
Accumulation as much as possible and hold it for as long as
24:17
possible. Absolutely right.
24:19
What What's the saying? Stay humble, stacks ATS and your
24:22
life will get progressively cheaper over time.
24:25
Things will get less expensive. It's just a matter of, you know,
24:29
huddling and believing. In my opinion, it takes about
24:32
four years to really start benefiting from switching unit,
24:36
not unit of account. Tone corrected me earlier, but
24:40
changing to a sound money standard and then I would say
24:43
around 2 cycles. It's really, really when you
24:45
start really extremely feeling the benefits.
24:48
It's my humble opinion on all this.
24:50
Anyways, guys, stay tuned because we are going to talk
24:53
about the topic of today's video, why potentially the Fed
24:57
and the Fed meeting is coming up I believe at 2:00 PM Eastern
25:00
Standard Time could potentially be very, very bullish for
25:05
Bitcoin and we still might get 100K Bitcoin from from right
25:10
now. I mean, that's like a 40%.
25:12
I know the large of the law of big numbers comes into play.
25:16
It's a lot different from going from 1K to 3K back in the day.
25:21
But still, I mean, I think that a lot of the reasons that, you
25:25
know, Bitcoin is still considered a risk on risk on
25:28
asset for a lot of people. A lot of the reasons that we're
25:30
seeing this kind of choppy sideways action is because of
25:34
the elevated interest rates. And today the Fed, specifically
25:37
Jerome Powell is is expected to announce a 25 to 50 basis points
25:43
cut. So we're looking forward to
25:45
that. But that should be very, very
25:47
bullish for Bitcoin. And of course, we have tone base
25:50
to explain what all this means. So guys, stay tuned, we'll be
25:53
right back. Let's hit the news.
25:56
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Anyways, guys, take self custody of your Bitcoin and make your
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wealth uncompensatable. So I do want to talk about
28:13
today's topic. Everyone is kind of like, you
28:16
know, paying attention to this. Here's the CBS News headline
28:20
quote. the Fed is set to cut rates today for the first time
28:23
in four years. What does that mean for your
28:27
money? Here's a quick clip from
28:30
Bloomberg. Let's check it out.
28:32
Crypto, a look at the people, transactions and technology
28:35
shaping the world of decentralized finance.
28:38
Live from Blue Earth World headquarters in New York City.
28:40
I'm Matt Miller. Bitcoin is ripping today.
28:43
The move comes about 26 hours before the big Fed decision.
28:47
The 1st US rate cut in more than four years is expected to set
28:51
the stage for riskier assets such as crypto.
28:55
Former President Donald Trump unveiling his crypto platform
28:58
and his sons also promoting it. He leans into digital assets in
29:03
search of donations and votes amid a tight election race.
29:07
And we're going to talk about crypto's role in this election
29:10
cycle with Coinbase's head of U.S. policy, Cara Calvert, her
29:14
firm, one of the top spenders across all of the races.
29:19
That's all I had to 1st. Let's take a look, a closer look
29:21
at where Bitcoin is trading. As I said, it's ripping today.
29:24
It's surge, bringing it to the highest level that we've seen
29:26
this month, pushing its year to date gains to around 40%.
29:30
Right now, Bitcoin trading at more than $61,000.
29:34
Meanwhile, Micro Strategy recently bought even more
29:38
Bitcoin, this time another 18,000 coins and it's biggest.
29:41
All right, well, I'll stop it there.
29:43
I think you guys get the contacts and I got to say Opti,
29:45
holy crap, do you see that studio man multicam moving like
29:49
whoa, we got to we got to do some upgrades anyways, I do want
29:52
to just give a little bit of context here, but I'm going to
29:54
let Tone kind of explain. So there's two things right that
29:59
could potentially boost Bitcoin's price regarding the
30:02
the Fed cutting the interest rates.
30:05
So of course, investors seek high returns with lower interest
30:08
rates. Traditional investments like
30:09
savings accounts and bonds offer less return.
30:12
And then there's the inflation concerns.
30:13
Lower rates often lead to more money circulating in the
30:16
economy, which can cause inflation.
30:18
So just giving a little bit of context.
30:20
And also, of course, the push for investors to look for
30:24
riskier assets like Bitcoin, which can offer better potential
30:27
gains. So Tom, could you break down a
30:29
little bit as to why the Fed lowering the rates either by 25
30:35
basis points or 50 basis points is bullish for Bitcoin and could
30:39
it potentially mean a a very, very solid Q4?
30:42
And if you look at it from a historical perspective, it seems
30:46
like Bitcoin tends to perform poorly in September and it's
30:50
SEM, it's they don't call it October for no reason.
30:53
So what's your take, Tom? Yeah.
30:55
So let me start off at the highest level and then I'll I'll
30:58
bring it back down to Bitcoin. So the stock market historically
31:02
has a bull market starts in October or end of September.
31:06
So we all know that, not all of us, but a lot of people fear
31:10
October because the the crash of 1929 took place in October.
31:17
But October is when the stocks usually bottom, right?
31:20
It doesn't mean they can't crash in October, but at some point in
31:23
October or late September is when traditionally the stock
31:26
market finds a bottom and it starts a really good Q4.
31:29
The stock market and Bitcoin are incredibly correlated.
31:32
It's really hard to separate them.
31:33
Bitcoin came out in 2010 is when we had the first price of
31:38
Bitcoin established and the stock market has been in a 12
31:42
year bull market and so has Bitcoin.
31:44
One of the reasons for this is because they're both private
31:46
assets. There was private assets and
31:48
public assets and it's people can invest in private, people
31:53
can invest in public. Now it's called a, it's called a
31:56
stock, it's called a publicly traded company, but it's a
31:59
private company. So the stock market is a private
32:02
asset. Gold is a private asset.
32:03
Real estate's a private asset, even though the government can
32:07
take it away from you very easily if you don't pay your
32:10
taxes. And Bitcoin is the ultimate
32:12
private asset. So what's a public asset?
32:14
A public asset is government bonds.
32:17
So even corporate bonds are still private assets, but
32:20
government bonds are the only public asset that competes with
32:24
all the other private assets. And there's actually more money
32:27
in government bonds than in the stock market still today.
32:30
OK, That is an insane investment, right?
32:33
Because governments only know one thing, right?
32:36
They can't live within their means.
32:37
And they continue to borrow more and more money until they
32:40
default. They just haven't done it in the
32:41
well, America hasn't done it in a while.
32:44
And so that's the competition. So what?
32:47
What is the Fed? A lot of people blame the Fed
32:49
for all the financial problems. That's a mistake.
32:52
The real culprit of inflation and most of the problems that we
32:57
have goes back to that question to Trump is not the Fed, is the
33:00
Treasury. the Fed is there to basically bail out the Treasury.
33:05
The Treasury can't live within their means.
33:07
There's a trillion dollar budget deficit every year and somehow
33:11
the Fed needs to fix this problem, right?
33:13
The government shuts down the economy, creates massive
33:16
inflation between their money printing and destroying the
33:18
supply chain. And now the Fed is there trying
33:21
to somehow save it, right. So the Fed's only tool to do
33:25
anything really is adjusting the interest rate.
33:28
So as you said, if the interest rate is lower, it's cheaper to
33:32
borrow money. And that money could get
33:33
invested. If the interest rate goes up, it
33:36
becomes more expensive to borrow money.
33:38
But if the interest rate goes up and you're sitting in private,
33:41
sorry, public assets like the government bonds, you get paid
33:45
more money, right? For a senior citizen, it's
33:47
easier to pay their bills if they're sitting, you know, they,
33:50
they're, they think that the stock market is too risky.
33:52
So for Q4, whatever the Fed does is completely irrelevant.
33:58
So people have been have this thing that whenever the Fed
34:02
drops the rate that it's good for the stock market, it's
34:06
completely irrelevant to private assets.
34:10
So, but the initial reaction is going to be very bullish.
34:14
So if the Fed cuts the rate by 50 basis points, for example,
34:18
which I think is a little too much, Bitcoin in the stock
34:21
market will spike through the roof.
34:23
But then after the high wears off, people are going to start
34:28
thinking, why is the Fed cutting the interest rate?
34:31
The Fed cuts the interest rate when the economy is in trouble.
34:34
The stock market doesn't crash because the interest rate got
34:37
cut. the Fed knows that the stock market is crashing.
34:41
Companies may be laying people off.
34:43
Companies may go out of business.
34:45
How can we allow this company to borrow money to save jobs?
34:49
That's why after the stock market crashes, the Fed has
34:52
these emergency rate cuts in order to save companies.
34:55
And if the rate cuts, and if the Fed cuts the rate all the way to
34:58
like close to 0 and they are no longer able to allow these
35:03
companies to save jobs, jobs by borrowing money, now they have
35:07
to bail out like the auto bailout.
35:10
Now they have to inject money to prevent these job losses or they
35:15
have to help cut these deals like when JP Morgan bought Bear
35:18
Stearns, OK. Because you don't want a million
35:22
people going instantly unemployed.
35:24
You can get, you know, like that's just how you get
35:26
revolutions basically. So if the Fed does the crazy
35:30
thing and let's say cuts it 75 basis points, the initial
35:36
reaction is going to be, Oh my God, free money, right?
35:39
But after a week or two, the smart people are going to say,
35:42
why is the Fed cutting? Why are they injecting money
35:45
into the economy? The economy's in trouble.
35:47
That means that stock market is actually crashing.
35:50
And This is why they will not raise lower the interest rate
35:53
that much because the stocks aren't crashing.
35:55
Companies are not laying a lot of people off unless they're
35:58
converting to AI. So, so that's kind of the nuts
36:03
and bolts of it. Now also with inflation, since
36:06
inflation has come down a bit, they can lower the rate a bit.
36:09
And I think the real reason why they're going to lower the rate
36:11
is because they've been promising to lower the rate and
36:13
the market now expects them to lower the rate.
36:16
So the opposite effect is true. If the Fed does not lower the
36:19
rate, or let's say they do the crazy thing and raise the
36:22
interest rate 25 basis points, the initial reaction is going to
36:26
be to crash the market. But after the initial reaction
36:30
to crash the market, people are going to say, well, if the Fed's
36:33
raising the interest rate means the economy is doing great, they
36:35
don't need to inject liquidity in the market.
36:37
And then people are going to speculate on the stocks.
36:40
OK. And also, if people think the
36:43
stock market will make them 10% over the next 12 months, they're
36:48
going to put their money in stocks.
36:50
They're not going to go. They're not going to put their
36:52
money. They're not going to borrow
36:53
money at, let's say 1% if the interest rate is 1%, but you
36:58
have nowhere to invest this money to double your money.
37:02
Like if you if you think the stock market is going to crash,
37:04
why would you borrow money at 1%, put it in the stock market
37:07
and lose money. But if you can borrow money at,
37:10
say 8%, but you have confidence that stocks are going to go up
37:14
15% next year, you're going to borrow at 7%.
37:17
So in the long run, a higher interest rate is actually better
37:21
for the market, but in the short run, it's flipped.
37:24
Interesting. That's fascinating.
37:25
And then then the people are speculating between right now
37:28
it's between 50 and 25 basis points that is expected.
37:32
What's your take? You think it's I?
37:33
Think it's going to be 25? 25 I think.
37:35
It's because if it is 50, yeah, well, Bitcoin might hit 70,000
37:40
next week, but if he cuts at 50, I think he knows that the
37:44
market's in trouble and a crash is coming.
37:46
Gotcha, gotcha. And, and I, I kind of want to
37:48
talk so and they're trying to pull off the so-called soft
37:52
landing, right? I mean, again, a lot of people
37:56
say it. Even the Fed says we don't look
37:58
at the stock market. The stock market's irrelevant.
38:00
The stock market is not a reflection of the economy.
38:03
I think that's insane. The stock market is the economy
38:06
because again, if stocks aren't crashing, companies are not
38:10
failing. When a stock when the stock
38:13
market crashes, big companies go out of business and hundreds of
38:17
thousands of people get laid off.
38:19
So if the stock market is at an all time high, even if it's top
38:23
heavy, even if it's just 10 companies, but those 10
38:25
companies employ more people than the next 50 companies,
38:28
right? If the stock of Amazon crashed
38:30
50% tomorrow because they've been lying about something,
38:34
right? How many, how many people are
38:35
going to get fired? That's when the Fed has to step
38:38
in and cut the rate. Absolutely.
38:40
So, and then tone last bit before I pass it on to Opti is,
38:45
is it possible from where you're standing and what you're and,
38:49
and the, the data that that that you have, is it possible for
38:53
Bitcoin to hit 100K that by the end of the year specifically?
38:58
I know that you're telling me that the rate cuts are a short
39:00
term sugar high, right? But is it possible for Bitcoin
39:04
to hit 100K by the end of the year?
39:06
Because I think a lot of people were expecting that, especially
39:09
earlier on the year when people were, you know, the, the initial
39:15
half cycle mania took place, you know.
39:19
It's, it's possible for Bitcoin to hit 100,000 this year, but
39:22
it's equally possible for Bitcoin to go below 40,000 this
39:25
year. And again, it will have to do
39:28
with the economy. If something, if a big crash
39:32
comes, people have to feed their families, they're going to have
39:35
to sell Bitcoin as well. As long as the stock market keep
39:38
rising, it's good. Now, eventually if the US dollar
39:40
breaks or let's say the euro breaks up, I mean, there are
39:44
these massive catalysts that that can break it, right?
39:48
So if, if private assets are crashing, but the public sector
39:56
is also crashing, then people might find safety in Bitcoin.
40:01
But if the private assets are crashing.
40:05
But people still trust the government to save them.
40:09
They're going to sell their Bitcoin and go into dollars,
40:12
right? So outside of those kind of
40:15
massive cataclysmic financial events, it, it's possible, but
40:21
it's, it's probably unlikely that Bitcoin is going to go up
40:24
that high. But yeah, it's certainly
40:26
possible. But it has nothing to do with
40:28
the Fed, right? No, no matter what the Fed does
40:31
on this rate hike or the next hike, that will not be the
40:34
reason for Bitcoin going to 100 grand.
40:36
It might be the reason for us to hit 75,000 next week, but it is
40:41
not the reason why it would hit 100K.
40:44
Gotcha, gotcha. Very, very.
40:45
So we got we got tone in the house and he specializes in in
40:48
finance and you you worked in that world as well, right?
40:51
Yeah. And yeah.
40:53
So the name of today's video was, you know, why Bitcoin could
40:57
potentially hit 100K by the end of the year.
40:58
Why that's probable Tone vase is coming from that is unlikely.
41:03
You know, he's made his case. I'm coming from the Bitcoin maxi
41:07
perspective and I'm looking at the previous cycles.
41:10
I still think that I, I, I think it's going to surprise
41:13
everybody. I, I'm still, I'm still
41:15
expecting 100K Bitcoin by the end of the year.
41:18
But Opti I want to get your opinion on all the on all this.
41:22
Well, everyone on ZAP stream is calling me a bear already, so I
41:26
I might lean into the bearish camp right now.
41:29
I, as much as I want to believe, you know, I'm the, I'm The
41:32
X-Files, I want to believe 100K by the end of the year, but I'm
41:37
not really seeing that right now.
41:39
Personally, I think we'll be hitting those numbers in 2025,
41:43
though I do believe in the memetic power of September and
41:46
October. So historically, I think it's
41:49
October that is one of the most bullish months in Bitcoin.
41:52
So I do think we will be seeing price rises.
41:55
Again, I don't claim to know anything in regards to what the
41:59
Federal Reserve does in interest rates and how that affects the
42:02
market. All I know historically is that
42:04
Bitcoin is correlated with the stock market.
42:06
It is, you know, semi correlated with the traditional financial
42:09
world. And I think that has to do with
42:11
a lot of, you know, deep pockets that are looking at the
42:15
traditional system and wondering whether they should go into
42:19
risky assets, quote UN quote or the riskless assets.
42:22
And so I think we still are slaves to where the deep pockets
42:26
are. But as far as most of us big
42:28
corners are concerned, whether it goes up to 100K by the end of
42:31
the year or as Tone was saying, it goes to 40K, it doesn't
42:34
really change our strategy. We just try to buy as much
42:37
Bitcoin as possible, hold it for as long as possible.
42:39
And that's the name of the game is accumulate Bitcoin.
42:42
And so it will be interesting, like Tom was saying that if they
42:46
do lower interest rates and it does pop up to say 75K in like a
42:51
short time span, it will be interesting to see the reaction
42:54
to the market and what's going on.
42:56
But I do want to touch on one thing, Nico, which I thought was
42:58
funny. In that Bloomberg clip, Bitcoin
43:01
went up what, like 4 or 5%? It went from, what was it 57 K
43:05
TO61K. And the Bloomberg analyst is
43:07
like, the Bitcoin price is ripping.
43:09
And all of us Bitcoiners are like, yo, like this is boring.
43:12
Can we actually break out of the 58 K range?
43:15
And the the traditional guys, you know, the Wall Street guys
43:19
seeing 5% pumps are like, this is incredible.
43:23
I've never seen this before. And we're like, yo, this is a
43:25
walk in the park. This isn't this is boring.
43:27
This is boring price action. But before we move on, Nico, we
43:30
do talk, talk about uncomfiscatable for new people
43:33
in the chat. I do want to ask tone a a very
43:35
simple question. You said that Bitcoin won't pump
43:39
because of the interest rates or what the Fed does.
43:42
And so the new people in the chat, what are the fundamentals
43:45
and, and what do you think is going to make Bitcoin run to
43:48
these high levels? I, I know a lot of people that
43:50
are in the space like that we've been around.
43:52
But if there's new people in the chat, what are those indicators
43:55
that you think are the fundamentals that you think will
43:57
make the Bitcoin price run to these 6 figure plus ranges?
44:02
Right. So I described Bitcoin in one
44:05
sentence. I actually have it on some
44:06
T-shirts. I'll try to put those on sale
44:08
again. Bitcoin is unconfiscatable,
44:10
censorship resistant, store of value.
44:14
These are the three most important properties of Bitcoin,
44:17
and to me they're independent. I separate unconfiscatability
44:20
from censorship resistance. Censorship resistance is the
44:23
stuff that BlackRock will be putting in their report that it
44:27
is, you know, pretty cheap to send.
44:31
It's pretty quick for it to get to another place and it's
44:35
censorship resistant. You can send it to anyone
44:37
around. They'll never put the word on
44:39
confiscatable there because guess what?
44:41
They hold your private keys. These are the two independent
44:44
properties of Bitcoin. Now, lucky for us, and I've had
44:47
this debate with Jimmy Song, lucky for us that Satoshi
44:52
believed in hard money because Bitcoin could have been created
44:57
with an inflationary money supply like some of the other
45:01
old coins and stuff. And had Bitcoin been created
45:06
with an infinite money supply, Jimmy believes that some kind of
45:10
a soft fork would have constrained the supply to a
45:15
fixed amount. And I took the debate that it
45:17
would not because you need consensus, right?
45:21
And the people are still arguing what's a better financial model?
45:24
Is it the gold standard or is it the current Fiat system?
45:28
And we don't know, right? Like, for example, my best
45:30
argument is and Safed in takes this argument that like some of
45:34
the greatest inventions in the world, you know, like
45:36
electricity and the car engines that we have oil everything took
45:43
place under a gold standard, but the Internet took place under a
45:47
Fiat standard, right. So if we had the gold standard
45:49
for last 100 years, is it possible you're not doing the
45:52
show? Is it possible the Internet was
45:54
never invented, right? Is it possible Bitcoin would
45:57
never be invented, right. So it's the IT you can make the
46:00
argument that the Fiat system that we have does bring some
46:05
innovation, OK, with the easy money that was created.
46:08
And so on that note, we, lucky for us, Satoshi decided to start
46:15
it with the finite supply and that's what's going to drive it
46:19
higher. It's these three properties as
46:20
people find more and more use in any of the three properties or
46:25
in all three of these properties, that's what's
46:29
driving Bitcoin higher. And it has nothing to do with
46:33
interest rates. OK and Michael Saylor clearly
46:36
believes in believes in two of these properties, but not the
46:39
uncompensated ability because but for legal reasons he made he
46:42
may believe in it, but for he understands it, but for legal
46:45
reasons he can't utilize that property and people really need
46:49
to think about that and because that's what drove me into
46:51
Bitcoin. It was the Cyprus banking money
46:53
confiscation in April of 2013. That's what but maybe realize
46:58
that you're well, there's there is nothing uncompuscatable and
47:01
that's what led me to Bitcoin, which was so go back to what you
47:05
said obviously earlier, right? Again, this is the a wave people
47:09
choosing risky assets. There are private private assets
47:13
are usually riskier versus public assets, which are the
47:16
government bonds, which are supposed to be have less risk.
47:20
But as time passes, these non risky assets of government bonds
47:26
become more and more risky as government takes on more and
47:29
more debt, as government gets more and more tyrannical, as
47:32
they start to, you know, push at some of the in in America, it's
47:38
basically the Constitution. So as people see these riskless
47:42
assets as more risky, they start to put their money into private
47:48
assets because they see them less risky.
47:50
To me, having all your money in the stock market is actually
47:54
less risky than having all your money in a a bank holding
47:59
government CDs and government bonds.
48:02
Because a company like Apple can always move jurisdictions.
48:06
They don't have to be an American company, right?
48:08
Especially if your business is an online business, right?
48:12
Like, I want NVIDIA, right? If Nvidia's not happy, they'll,
48:16
you know, find another jurisdiction.
48:18
So and also it's a lot harder for government to bail in from
48:22
your stock market because they're supposed to still be a
48:24
private market. So and Bitcoin is the ultimate
48:27
private asset that has additional properties on top of
48:30
the stock market. To me, the stock market is the
48:32
second best store of value, not gold.
48:35
Gold will adjust for inflation. That's why your gold coin bought
48:40
you a nice suit in the 1920s. It's going to buy you the same
48:44
nice suit today. A nice suit today is going to
48:47
cost you about two grand, right? 2 1/2 for a really nice Italian
48:50
suit. That's what it cost you back in
48:52
the 20s. Twenty dollars, $30, a nice
48:55
custom Italian suit for your gold coin.
48:57
But imagine if you took that gold coin, that $20, and you put
49:00
it in the Dow Jones for the last 100 years.
49:03
Because the stock market doesn't only adjust for inflation, it
49:06
also adjusts for the advancement in technology.
49:10
Because the companies that can't compete and innovate like
49:13
Blockbuster, like Kodak, they go away and new companies like
49:18
Netflix go in. So stock market is the ultimate
49:22
store of value until Bitcoin came along.
49:26
Beautifully said. Beautifully said from Tone Vase.
49:28
We're going to continue this conversation.
49:30
We're going to talk about Rotan. We're going to talk about
49:32
Unconfiscatable and Opti. Why don't we do a live YouTube
49:37
poll? It seems like I'm on Bitcoin.
49:40
We'll hit 100K by the end of the year.
49:43
Tone Vase is it can go either or.
49:45
I think he's on the fence. I'm more bullish again, I
49:48
believe in the cycle. So I've been saying for months
49:51
that sometime in October we will start to go up.
49:55
Now I don't know if we're going to start to go up from 70,000 or
49:59
if we're going to start to go up from 40,000.
50:02
But I am expecting to be in a bull market after this six month
50:06
consolidation. Sometime in October, I expect it
50:10
to start. I just jury's still out if there
50:13
was one more crash coming before end of October.
50:16
Absolutely. And then Opti, what's your take
50:18
100K by the end of the year. I'm probable tone feels bullish.
50:24
What is? Well, I, I'm.
50:26
I'm kind of agreeing with tone. I'm I'm kind of seeing the same
50:29
thing that like around October, we'll see the Bitcoin price
50:33
finally break out of this 5860 K range and then we'll really
50:37
start making our trip up going into 2025.
50:40
So hey, throw all the tomatoes you want boys and girls, but I
50:44
am bearish on 100K by the end of the year for the first time on
50:47
the show, I'm bearish. I'm I thank God I'm the one that
50:50
made the title today. I think it's probably but we'll
50:54
we'll ask the live chat and we'll see what you guys think
50:57
and of course shout out to the 1600 of you guys watching live
51:01
between YouTube rumble and X. If you guys are enjoying and of
51:04
course, noster. If you guys are enjoying the
51:06
show so far, make sure to smash that like button really really
51:11
helps with the algos. All right, everybody, let's hit
51:15
the culture. We have lots to talk about.
51:18
Let's check it out. Here we go.
51:32
All right everybody, I do want to give a very special shout out
51:35
to our sponsor for the Orange Pull up Stack friends who
51:37
stacked stats join the 12,233 bit corners that are currently
51:41
on the app. To get started, you scan the QR
51:44
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51:47
description and or the video slash podcast description.
51:51
It'll take you directly to the Orange Pull app on your App
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51:56
only events. It also allows you to send
51:59
messages to bitcoiners that are near you.
52:02
So let's say you're here in Vegas for Unconfiscatable.
52:04
You don't know anyone around you.
52:06
Pull up the Orange Pull app and it'll allow you to send them a
52:08
message directly. I should probably open it now
52:10
and see if I can message me during the event.
52:13
Yeah, I, I still, I have to get back to you guys at like 3 weeks
52:16
backlogged. So scan the orange pull app,
52:20
download the orange pull app, message tone, message me.
52:22
Opti's on there as well. And yeah, so anyways, I do want
52:28
to talk about unconfiscatable man.
52:32
So you're changing it up. This is, this is bittersweet.
52:35
I'm very sad, but we're we're definitely going out with a
52:38
bang. You you rented the real world
52:42
suite here. We're we're we're streaming live
52:44
right now. As you guys can see kind of a
52:47
little bit of the background. It's absolutely epic.
52:50
And we had the first day, which was the poker tournament and
52:55
tonight is the scammies. Is that gonna be the final
52:59
scammies? I don't know.
53:01
We'll see. We may keep the scammies.
53:03
We'll do the scammies during the poker tournament.
53:06
So once a year we'll do the scammies even if they're poker
53:08
tournaments. So I'll pick one other
53:10
conference that's going to be like the main event, the main
53:14
poker table. Probably that's the one where
53:16
you're going to get the watch. Maybe we'll make enough of these
53:18
for everything, but one of them will have the scammies and maybe
53:23
a panel or two, and otherwise it'll just be some poker at
53:27
other events. Awesome.
53:29
And, and that's my, some of my favorite parts about these
53:32
events is the poker, obviously, not only the poker tournament,
53:36
but also the kind of like the side tables, which were, which
53:39
are a lot of fun. So let's talk a little bit about
53:42
Rotan, man. So you've been like hammering me
53:46
home about Rotan for the last six months or so.
53:50
It seemed you the first time you told me you're like Nico, I
53:53
found it and I was like, what are you?
53:54
What are you talking about? He's like Nico.
53:55
I found the place and it's this beautiful island off the coast
54:00
of Honduras and apparently it is a Bitcoin citadel.
54:05
What makes Rotan so special from a regulatory perspective?
54:10
Why should that interest any bitcoiner?
54:13
Yeah, so again, for me it actually checked off a lot of
54:18
boxes. Like everyone asks you, well,
54:19
where do you want to retire, right.
54:20
When Bitcoin hits $1,000,000, where are you going to retire?
54:23
And you have your, you know, check box.
54:25
I want, some people want the beach, some people want, you
54:27
know, live in a ski slope. Everyone's different.
54:31
Some people want a bunker. It depends.
54:34
For me, I want it to be near a nice coast.
54:37
I want it to be on a nice island.
54:39
But then you have the, you know, what kind of government does it
54:42
have? So we'll start off with the
54:44
Honduran federal government is not friendly in this area, but
54:50
the prior government added something to the Constitution
54:53
and it allowed certain entities to file for a called a Zete zone
54:59
zone for economic development and employment and what it
55:03
allows them to do. And there's only three of these
55:05
zones because the current government is not allowing
55:08
anymore. And as much as they tried to
55:10
shut this down, they couldn't because they couldn't overturn
55:13
the constitution. And it allows it's, it's the
55:18
first private city in the world. And we, it's something like,
55:22
it's hard to compare this to anything.
55:24
It doesn't exist now. It's not the whole island.
55:26
It's an island that's a big tourist destination.
55:29
But about 5% of that island, hopefully 10% of that island in
55:33
the near future is under the Zeddi zone.
55:37
And some of the founders of the Zeddi zone just happened to be
55:40
closet Bitcoin Maxis that you probably never heard of.
55:45
There's, you'd be surprised how many closet Bitcoin Maxis there
55:48
are that aren't doing our YouTube channel.
55:50
So Pristine Bay right there, which is where you see if you
55:53
zoom in on Pristine Bay, right? Yeah.
55:59
And so it's actually hard to explain because I said nothing
56:04
like this exists. Dubai doesn't have this,
56:06
Singapore doesn't have it, Hong Kong doesn't have it, But
56:09
they're trying to compete with those cities.
56:12
Now what made those cities special is their economic
56:17
freedom. These were very capitalist city,
56:20
excuse me, on pristine Bay right there.
56:22
These were very capitalist cities, but those capitalist
56:25
cities were are still the government still has ultimate
56:30
control. There is just that it's I don't
56:33
want to say it's a tyrannical system of government, but it
56:35
just happens to be economically friendly.
56:38
It happens to be capitalist friendly, but it's still very
56:43
tight controlled. Now this is tasted one step
56:47
further because this city is actually owned by a corporation
56:52
and we've never had that before. You've never had like you have
56:55
some private cities like Amazon has like their own kind of city,
56:58
which is their own campus. But this is the first attempt at
57:02
creating the first private city where if you don't like it, you
57:07
just leave. And they get to set all their
57:11
own laws except federal criminal statute.
57:16
So they can't change criminal laws like drugs are illegal in
57:20
the country of Honduras. So the ZEDE of Prospero ZEDE
57:25
cannot make drugs legal because that's a a criminal violation.
57:29
But anything civil, whether it's taxation, whether it's building
57:34
codes, whether it's health codes, health regulation,
57:37
financial regulation. This is why so many health
57:39
companies are moving there. Mini Circle, which is again,
57:44
private company that does genetics and Brian Johnson went
57:49
here to get it injected. They're not forcing you to get
57:53
injected with gene altering therapy, but it's an option for
57:56
people. They moved to the ZA because
57:59
they were able to bring their product to human injections like
58:04
six years earlier by being in the zone.
58:07
So what they're doing is they don't want to set their own
58:09
regulation. They're like, well, we don't
58:11
know what financial regulation is best.
58:14
We don't know what medical regulation is best.
58:17
I'm, I'm looking at the stem cells.
58:19
Different countries have different stem cell laws.
58:21
So what they're doing is you can import the regulation.
58:25
So if you have a company, say you have a stem cell company and
58:28
there are legally accepted stem cell laws in a country like
58:33
Panama where I mostly live, Panama has great laws on stem
58:38
cells. That's why it's some of the best
58:39
stem cell companies are in Panama.
58:41
But you don't want a company in Panama.
58:43
You can do your company here in the ZA and import the regulation
58:49
from Panama. I was gonna sneeze that.
58:55
No problem. No, that that's incredibly
58:57
unique and that's the first private city.
59:00
I mean, that's that's fascinating.
59:02
And that kind of plays into the book.
59:05
The sovereign individual, like the thesis of that book that
59:08
they he he would, the authors are making the case that this
59:12
was an inevitability that this was going to happen.
59:16
And do you believe that Rotan is like the first example of that?
59:21
It is definitely the first example of that, and here's why
59:24
it immediately struck a chord with me.
59:27
I ended up quitting my job way too early to go all in on
59:31
Bitcoin. And by all in, I don't mean all
59:34
in with my money. I mean, all in promoting it,
59:39
starting a podcast, making a difference.
59:42
And right now my voice by percentage wise is nowhere near
59:47
where it was in 2017. But I still have people come up
59:49
to me and thank me for all the shows I did to guide people
59:54
through the fork wars. And that's probably been my
59:57
biggest contribution, like reassuring people that you have
1:00:00
to stay on Bitcoin and don't follow Roger Veer.
1:00:03
All those debates that I had. So I I am proud of a lot of
1:00:06
contributions I made, but they were all made in the early days.
1:00:09
And in those early days, the reason why I did that, the
1:00:12
reason why I just quit my job and I was speaking at any
1:00:14
conference. Doing the podcast, I haven't
1:00:18
made much money in the space at all, and I did it because I felt
1:00:23
Bitcoin was too important to fail and I wanted to do
1:00:26
everything I can to prevent it from failing.
1:00:29
And by it not failing, it would then lead to me being more
1:00:34
financially independent. And I'm not saying I succeeded
1:00:38
in doing this, but I feel that I played a part.
1:00:41
I played an important part, and we all did.
1:00:43
Anyone that, especially back then when it was a lot scarier
1:00:47
to buy Bitcoin, people are like, oh, you got lucky, you know,
1:00:50
buying Bitcoin so early. No, no, no, no, no, no, no, no,
1:00:53
no. The the 20/16/2017 era was it
1:00:57
was it was a lot of uncertainty. I remember when the the four
1:01:00
cores were happening and Roger and Jihan teamed up to
1:01:04
artificially bring up the Bitcoin hash, the Bitcoin Cash
1:01:07
hash rate. Like you're looking at that from
1:01:09
a miner's perspective and you're like, holy cow, like Bitcoin
1:01:12
Cash is theoretically more secure.
1:01:15
But now we know after the fact that they were literally setting
1:01:18
money on fire in order to artificially make it look like
1:01:22
that, to convince people to sell their Bitcoin to Bitcoin Cash.
1:01:26
There was just so much more uncertainty.
1:01:28
The regulatory environment wasn't there.
1:01:31
The this was in the middle, This was in the midst of the ICO
1:01:34
boom. So a lot of people were thinking
1:01:36
that a lot of people were thinking that that, you know,
1:01:40
Ethereum was going to replace Bitcoin, that Bitcoin was too
1:01:42
old, right. So it was a it was a totally
1:01:44
different era in Bitcoin's history.
1:01:46
And yeah, if. You go one more cycle.
1:01:49
It was even more scarier than while I still crowd goes down,
1:01:53
they're confiscating 400,000 Bitcoin.
1:01:56
There was that almost accidental hard fork from Mike Hearn in
1:02:00
2013. There was a it wasn't easy, but
1:02:05
I felt the same way the moment I went down to Roton and met the
1:02:08
Prosper team and the CEO of the city and I've done interviews
1:02:14
with them. It's on my channel.
1:02:15
I got that same feeling. This city is too important to
1:02:19
fail because if it succeeds, it completely changes so much in
1:02:25
the world. And if it fails, this could be
1:02:28
it. So this is as close as people
1:02:31
have right now to a true private city.
1:02:36
And we're lucky that the guys that founded the city, they are
1:02:42
capitalists and they're bitcoiners, OK, so.
1:02:46
But it's not going to stop, you know, all coiners from moving
1:02:49
in. Try not to curse on your show
1:02:52
and but at least the founders have it right.
1:02:57
And I'm not saying it's going to stay that way, but I want to do
1:03:00
everything in my power to help it stay that way.
1:03:02
The way I did my part in the early days of Bitcoin by having
1:03:07
the crypto scam podcast and trying to sway people away from
1:03:11
scams. I kind of want to help the city
1:03:14
to keep it Bitcoin only, and I really want this concept to
1:03:19
succeed because if it does, then there could be a similar private
1:03:22
city being built near you or in a different country, different
1:03:26
jurisdiction that you may prefer better.
1:03:29
But because unlike Bitcoin, this may not be the best one, but
1:03:34
it's the first one that needs to succeed.
1:03:36
Beautiful, beautiful. I absolutely love that man.
1:03:38
I appreciate you giving the historical context and the
1:03:41
importance of this, Right? A private city run by
1:03:44
capitalist, right? Let's see, free market versus
1:03:47
government run. My money's on the free market
1:03:49
winning always. But I do want to check on our
1:03:53
poll and we are getting to the top of the hour.
1:03:55
I'm gonna end the poll. We have 104 votes a let's see 75
1:04:03
of you guys do believe with me that that Bitcoin will hit 100K
1:04:08
by the end of the year and 24 percent believe that Bitcoin
1:04:12
will not hit 100. Ki think that guarantees we're
1:04:15
not gonna hit 100K. Oh man.
1:04:23
The other way I may be him because remember, the majority
1:04:28
is always right. The majority has to be wrong.
1:04:30
If the majority was always right, everybody would be a
1:04:33
billionaire. That's right.
1:04:34
The majority will always be wrong.
1:04:36
That's true. That's true.
1:04:38
All right, ladies and gentlemen, we are getting to the top of the
1:04:40
hour. I do want to give tone the last
1:04:42
opportunity. What do you want to say to the
1:04:44
1700 of people watching live right now?
1:04:49
Tell me about your events. Well, I do have another event
1:04:52
coming up. The next event is called the
1:04:54
Financial Summit. It's in the Maldives.
1:04:56
Nikko will be there. Once a year I organize an event
1:05:01
for a high end event. It's five days in a very exotic
1:05:05
high end destination. It's not a Bitcoin focused
1:05:08
event. It's more focused on the
1:05:10
financial markets and how to make money in the market.
1:05:12
It targets traders, money managers, investors,
1:05:16
entrepreneurs, mostly in the finance space, but anyone's
1:05:20
welcome. It's only 50 people people.
1:05:22
A lot of people bring their significant other.
1:05:24
That's what you've been to one of these in Dominican Republic.
1:05:27
I've done Bali, I've done Dubai, and the next one will be in
1:05:30
Rotan. The one after that's probably at
1:05:33
the end of next year or maybe into 2026.
1:05:36
So that's another event I have coming up.
1:05:38
Otherwise, please follow myself. I'm confiscatable handles as
1:05:42
well. Social media.
1:05:44
Always love hanging out with this guy.
1:05:45
And look, I'm happy for shows like yours, man, I'm glad there
1:05:50
is a so much good content now than versus when when I started.
1:05:54
And you guys are doing an incredible job.
1:05:56
I appreciate it man. And you guys, you specifically
1:05:58
tone you set, you know, you set the stage because at that time
1:06:02
there was no Bitcoin only content, right?
1:06:05
So, you know, you were, you were, what's the correct term
1:06:08
for this? You were a pioneer in that era.
1:06:11
So we do tremendously appreciate your work, guys.
1:06:14
Go follow Tone on Twitter on YouTube.
1:06:18
He has an incredible takes as you guys have seen this entirety
1:06:21
of the show. And of course, if you guys
1:06:23
enjoyed the show, you know to do smash the like button, consider
1:06:25
subscribing if you feel like we've provided you value and of
1:06:27
course, share the content. So this was your show for
1:06:30
September 18th, 2024, streaming live from Las Vegas, NV.
1:06:34
I'm your host Nico, my guest today Tone vase and my legendary
1:06:37
Co host Optimus Fields. We're simply Bitcoin and we'll
1:06:40
see you guys on the next one. Peace out, everybody.
1:06:44
You buy bitcoinwell.com, a Bitcoin only platform, on a
1:06:48
mission to enable financial independence.