Latest / Simply Bitcoin / NEW REPORT Predicts 25x Bitcoin Rally By 2030! | EP 1232

Transcript

NEW REPORT Predicts 25x Bitcoin Rally By 2030! | EP 1232 · Simply Bitcoin

• 0:00
  Kathy Wood is famous for her $1.5 million Bitcoin bull case
• 0:05
  for 20-30, but she just raised it to $2.5 million.
• 0:11
  Yes, in four years time, $2.5 million Bitcoin.
• 0:16
  But why has she changed her price predictions now?
• 0:19
  What new information has she uncovered that's made her even
• 0:23
  more bullish than ever before? Let's drive straight into this
• 0:26
  new report and uncover this. Of course, guys, I'm not alone.
• 0:31
  I'm here with Kent from SAS Mining and we have Nico.
• 0:35
  Let's just hope his internet's working.
• 0:37
  We have no idea what's going on. Anyways, let's dive straight
• 0:40
  into this Arc invest. So we've covered this report in
• 0:43
  the past. I think we've we've all probably
• 0:45
  heard this and that now there is some new variables going on.
• 0:49
  And honestly, guys, again opt, you've indicated on the show
• 0:52
  because I've been saying something very similar for a
• 0:54
  long time, but now it's coming out of the institution.
• 0:56
  So you love to see it. So here we go, ARC price target
• 1:00
  for Bitcoin in 20-30. Twenty 30 price predictions are
• 1:03
  so hot right now anyways. Price targets in this article
• 1:06
  rely on assumptions made regarding the total addressable
• 1:08
  markets, TAMS, and penetration rates discussed below.
• 1:12
  Bitcoin may fail to reach these price targets if any of the
• 1:14
  total addressable markets or penetration rates are not met.
• 1:18
  Risk and limitations exist that may prevent our forecast from
• 1:21
  being realized. Of course, they're referencing
• 1:23
  the first report here in arts Big Ideas 2025 report.
• 1:26
  We updated our Bitcoin price targets for 2030, projecting a
• 1:29
  bear base and bull case for OF300K710K and $1.5 million per
• 1:35
  Bitcoin respectively, as shown below.
• 1:38
  So you can see the first the first predictions here.
• 1:41
  Of course we've covered this in the past.
• 1:43
  You can see the bear case was 300 K again and the reasons here
• 1:47
  I'm I'm kind of color blind, so I'm probably not the one to
• 1:50
  really, you know, explain this, but all amount of emerging
• 1:54
  market safe haven, a digital gold meme and then institutional
• 1:58
  investment and then further, what are these?
• 2:03
  What are those? All right, guys, I'm, I'm, I'm
• 2:09
  back. I'm back from El Salvador.
• 2:11
  Apparently the first day I'm back, the Internet decides to
• 2:14
  play games with us. I don't know what's going on.
• 2:16
  I have to get a cable fix or something.
• 2:18
  But yes, the colours on the screen, there's the purple.
• 2:21
  The purple stands for institutional investment.
• 2:27
  The yellow gold on top of the purple, the red is emerging,
• 2:33
  sorry about that, emerging safe haven.
• 2:35
  And then the green on top is National State Treasury.
• 2:40
  So Kathy Woods original argument that her base case for 20-30 was
• 2:45
  $710,000 Bitcoin. But according to Opti,
• 2:48
  apparently that base case has gone up.
• 2:51
  It's no longer 710K. OK.
• 2:53
  Now moving on, moving on, you can see again more charts on
• 2:56
  price target assumptions. We've, we've covered all this
• 2:59
  before, so this is just saying the old article unpacks the
• 3:03
  modeling methodology and assumptions supporting those
• 3:05
  price targets. Now there's some maths here.
• 3:07
  We're not going to go over the maths, but you can, you know,
• 3:09
  read this yourself, price targets and assumptions and then
• 3:12
  going down or actually maybe we'll read this part.
• 3:15
  The anticipated contributors to Capital Coral primary
• 3:19
  institutional investment, primarily through spot ETFs
• 3:22
  referred to buy some as digital gold.
• 3:24
  Bitcoin is nimbler, more transparent store value relative
• 3:27
  to gold. Emerging market investors
• 3:29
  seeking a safe haven that can protect them against inflation
• 3:32
  and devaluation. And I think this is the newest,
• 3:35
  newest take we are seeing recently people are starting to
• 3:38
  look at Bitcoin as a safe haven. We've all seen the gold price
• 3:41
  start to RIP. We've all heard about the
• 3:43
  uncertainty and trad fires, the bond markets, the usual, you
• 3:47
  know, risk free and store value is the bond market.
• 3:50
  Now everyone's getting concerned they're kind of dropping the
• 3:53
  bonds going into gold. And here we go.
• 3:56
  The anticipated contributors, the capital cruel secondary
• 3:59
  nation state treasuries as other countries followed the US with
• 4:01
  Bitcoin strategic reserve corporate treasuries as more
• 4:04
  companies diversify Fiat cash with Bitcoin.
• 4:06
  And then lastly, Bitcoin on chain financial services as
• 4:09
  Bitcoin substitutes for legacy finance, which is something as
• 4:12
  bit corners have been saying for a long time.
• 4:15
  Again, some more charts and then they kind of just breakdown the
• 4:18
  different things they just talked about the institutional
• 4:20
  investments, the digital gold meme, the emerging market for
• 4:24
  safe haven nation state treasuries, corporate
• 4:26
  treasuries, and of course Bitcoin on chain financial
• 4:29
  services. Now going down, they start to
• 4:33
  talk about the Bitcoin supply. And this is the part where I
• 4:36
  think a lot of us bitcoiners, we we just do the simple math where
• 4:39
  we break everything down by 21 million.
• 4:42
  But as this article breaks down, the thing that a lot of us do
• 4:46
  when we make our price predictions is we don't account
• 4:49
  for lost Bitcoin. Bitcoin that's going to, you
• 4:52
  know, permanently be out of the supply.
• 4:54
  And this is where they started to update their new models and
• 4:56
  it makes it even more bullish. So going down, of course, I
• 5:00
  think we've all kind of have this idea that there's probably
• 5:04
  somewhere around 3 to 5 million Bitcoin that are lost.
• 5:06
  So you can move down. When you do all of your math
• 5:09
  comparing to global capital markets, it's probably not 21
• 5:13
  million that we should be dividing everything with.
• 5:15
  It could be, you know, I've heard some people say around 15,
• 5:19
  usually people use 18,000,000 to do the mass and this is where
• 5:23
  they start to get these ridiculously bullish price
• 5:27
  predictions. And it's Monday, so we're going
• 5:28
  to start strong on the week with some really bullish price
• 5:31
  predictions here, just because I know you.
• 5:33
  Love it it. It's not us, it's Kathy.
• 5:35
  Well, I know, but we're highlighting it.
• 5:37
  We're highlighting. So here is the updated 20-30
• 5:40
  Bitcoin price targets. You can see 2030 price target
• 5:43
  for active supply with the base or bare case assumption has now
• 5:48
  moved to $50,000 per coin with a case of 32%, which is
• 5:53
  interesting because I forget Nico, what was sailors?
• 5:56
  It's it's he, I think he's been using 20% keger.
• 5:58
  We know historically it's 40% keger.
• 6:01
  So moving on base case is now 1.2 million with a 53% keger.
• 6:06
  And of course, the bull case, which is what we all want to see
• 6:10
  here, is $2.4 million per Bitcoin with a keger of 72%,
• 6:16
  which is, that's crazy. I know we've been trying to do
• 6:20
  conservative price predictions here, but 72% kegger, you know,
• 6:24
  compounding annual growth rate of 72% every year, even through
• 6:28
  maybe a bear market, that would be incredible, absolutely
• 6:31
  incredible. Anyways, here's the crux of it.
• 6:34
  Importantly, the estimates constructed with the more
• 6:36
  experimental methodology are more aggressive than those in
• 6:39
  our bear base and bull cases with a more conservative bias.
• 6:42
  Our official price targets focus only on total Bitcoin supply.
• 6:46
  That said, we also believe that this more experimental exercise
• 6:49
  highlights that Bitcoin scarcity and loss supply are not
• 6:53
  reflected in most valuations models today, which I think goes
• 6:57
  into what all Bitcoiners constantly say.
• 7:01
  All your models are broken. I think the big take away here
• 7:03
  is we really don't know where the price is going.
• 7:06
  All we do know is digital scarcity hasn't fully been grok
• 7:10
  in the mainstream collective consciousness.
• 7:13
  And when you really account for how much Bitcoin, of course, we
• 7:15
  don't know how much Bitcoin is actually lost.
• 7:18
  It could be more, it could be less, It could be that some O GS
• 7:21
  here still have those keys and just you know, they've been
• 7:24
  huddling for 15 plus years and one day it'll move.
• 7:27
  I know a lot of people say that maybe Satoshi's coins will
• 7:29
  eventually move as well, but I do love this new kind of updated
• 7:34
  model because I've been saying this for a while, but I've been
• 7:36
  kind of doing it as just like a throwaway comment here on the
• 7:39
  show. It's like, look, we all do our
• 7:41
  price predictions with 21 million and we don't really
• 7:43
  account for how much Bitcoin is lost because we really don't
• 7:45
  know. And if you do do those
• 7:47
  calculations, you start to see the Bitcoin price predictions
• 7:51
  are getting crazy. So I don't know.
• 7:53
  I would love to see a 72% kegger.
• 7:56
  I know historically we have seen that on bull years, but when you
• 8:00
  kind of average it out, I believe it's historically 40%
• 8:03
  kegger. So even if we just do a 40%
• 8:06
  kegger, that is you know what, 701 point something mil.
• 8:11
  So hey, the numbers, when you get down to the math, it's not
• 8:16
  that crazy. I know people start to say, hey,
• 8:18
  these bitcoiners really don't understand how big numbers work.
• 8:21
  And I'm like, I don't think you understand what this digital
• 8:24
  scarcity truly means. So we'll see who's correct.
• 8:27
  Come back to us in five years and we'll see if we were
• 8:30
  extremely bullish on this Monday or we were conservative.
• 8:34
  Anyways. Nicole, are you here?
• 8:36
  How is your Internet? What is going on?
• 8:39
  Yeah, I don't know, man. Just I am here.
• 8:42
  I am back, I'm back home. But apparently the Internet is
• 8:46
  not cooperating today. I've unplugged every box known
• 8:49
  to man. I don't know what's going on,
• 8:51
  but hopefully I have it fixed by tomorrow.
• 8:52
  But anyhow, let's just get back to over 100K first.
• 8:57
  That's that's my response to this.
• 9:00
  You know, we, we have this, you know, sailors dropping $13
• 9:04
  million per coin. You know, Kathy Woods upping her
• 9:06
  price target to 2.5, we can't even sustain 100K.
• 9:12
  So let's just get to 100K. I'll be happy there.
• 9:15
  And then, you know, we'll kind of reassess.
• 9:17
  But it is a bullish, it is a bullish sign that she's
• 9:20
  obviously moving her price target.
• 9:22
  And I mean, what we've been saying for most of this year is
• 9:25
  essentially that this has been the most bullish year in terms
• 9:29
  of news. Like we've never had this much
• 9:32
  news in simply bitcoins history, like back-to-back to
• 9:36
  back-to-back and then all of a sudden the price action is not
• 9:40
  cooperating with the news, right?
• 9:42
  You have talk of a strategic Bitcoin reserve.
• 9:45
  You have Jack Mahler's announcing the Bitcoin holding
• 9:48
  company with Tether. Earlier on today you had some
• 9:52
  news about huge banks from from from countries and essentially
• 9:56
  buying into Bitcoin holding companies.
• 9:58
  I mean, if you actually pay attention to the stuff that's
• 10:02
  going on around you, Bitcoin should be much, much higher
• 10:05
  right now. Is Bitcoin reacting to kind of
• 10:07
  like the general macro environment?
• 10:09
  Some people make the argument for that.
• 10:11
  Some people make the argument that it's because of the Feds
• 10:14
  monetary policy that Bitcoin isn't higher right now.
• 10:17
  I don't know. But what I will say is I'll be
• 10:19
  happy if we make it's back to 100K and then we can kind of
• 10:22
  reassess, you know, these 502 hundred K200 K, $2,000,000 price
• 10:28
  predictions just because, yeah, man, I mean, look like, let's be
• 10:33
  real, I think this year in general, people had higher
• 10:36
  expectations for Bitcoin and I think Bitcoin has underperformed
• 10:40
  a little bit to say the least. But it's weird because it's not
• 10:44
  matching the like the news that's happening.
• 10:47
  The news that's happening is incredibly bullish.
• 10:49
  Like it's ridiculously bullish. I've never seen like if this
• 10:53
  type of news broke in 2018, Bitcoin would have 100 X in a
• 10:58
  month like it. It would have been so easy for
• 11:01
  it to do that and it hasn't, right?
• 11:03
  Is it just because Bitcoin's market cap is so much bigger?
• 11:06
  Is it because now there's more? It's institutional buying rather
• 11:10
  than retail buying? A lot of people are theorizing
• 11:12
  that if you look at Google Trends, Bitcoin's interest on
• 11:17
  Google Trends has still not surpassed the 2017 highs.
• 11:22
  Even back in 2021 when we had a peak, it didn't surpass the
• 11:26
  2017. So who's buying all this
• 11:29
  Bitcoin? It's it's institutional buying,
• 11:32
  it's it's government buying, it's OTC buying, but it's not.
• 11:35
  It hasn't been happening through retail, so retail hasn't come
• 11:39
  back yet. That obviously creates an
• 11:41
  enormous opportunity because I think it's inevitable when the
• 11:44
  supply shock hits. I just don't know when that's
• 11:48
  going to happen. I don't think anyone knows when
• 11:50
  it's going to happen. So I think in general, number
• 11:53
  tends to go up over time. People are saying, yeah, but
• 11:57
  that's that's what I'm saying. Like people were saying 200,
• 11:59
  people forget. But back in 2021, people were
• 12:02
  saying 200 K It's been four years.
• 12:08
  Like. If you take a look at Max
• 12:09
  Kaiser's Twitter account, he's been calling 220 K Bitcoin for
• 12:13
  four effing years. We barely broke 109, right?
• 12:17
  So again, I'm not saying that this stuff isn't going to
• 12:21
  happen. I think it's inevitable. 20
• 12:23
  Infinity divided by 21 million. What I will say is like, let's
• 12:27
  just get back to 100K and then let's let's reassess, let's have
• 12:30
  a conversation. But it is very bullish.
• 12:32
  I mean, look, again, you got to pay attention to the signal, not
• 12:35
  the noise. The Mahler's announcement from
• 12:38
  last week was massive. Microstrategy's performance is
• 12:42
  massive. The fact that the United States
• 12:44
  government has the intention to buy Bitcoin, they're they're
• 12:47
  transmitting this to the world is massive.
• 12:50
  Like it has all the signs and all the signs are there.
• 12:54
  Like it's not rocket science at this point, but I just think
• 12:58
  that, you know, I think it's AR else, as you say, no retail.
• 13:02
  What about the ETFs? A lot of that is probably
• 13:04
  retail. I mean, you could say that, but
• 13:06
  again, Google Trends doesn't lie.
• 13:08
  Like I'll pull it up while I pass it to Kent.
• 13:10
  But Kent, first of all, welcome to the show.
• 13:12
  We got the CEO of SaaS mining joining us today.
• 13:15
  We're going to be doing a demo of SaaS mining on the show
• 13:18
  today, which should be a whole lot of fun.
• 13:21
  Can't, can't wait for that. But Kent, what's your take on
• 13:23
  this man? Because yes, extremely bullish
• 13:26
  price predictions. Opti and I have had amazing
• 13:29
  shows from the perspective when the White House had the crypto
• 13:33
  White House summit where they had all the industry
• 13:35
  heavyweights at the White House. Me and Opti did that show and we
• 13:39
  were like on cloud 9, but the price wasn't moving.
• 13:42
  The price was like 95 K, right? So what's your take on this,
• 13:46
  man? Like incredibly bullish from a
• 13:48
  news perspective, but price has has yet to catch up.
• 13:54
  Yeah, man, I what comes to mind? So first of all, thanks to be
• 13:58
  back here, man, It's I always have a blast with you too.
• 14:01
  And you know, as I, as I think through like what you guys are
• 14:05
  both talking about to me, it kind of lands within the bigger
• 14:08
  picture for me of I just feels like we're in this global
• 14:11
  weirding phase at the moment, right?
• 14:13
  Where like there's this transformation going on with the
• 14:16
  monetary system, with tariffs, this macro, like everybody's
• 14:19
  just kind of off kilter a little bit and it feels like Bitcoin is
• 14:22
  too, because you're right. I mean, I've been around
• 14:25
  tracking Bitcoin since late 2015, and this sort of news at
• 14:29
  other phases of the cycle would have absolutely jacked the
• 14:32
  price. I mean, this is insane stuff
• 14:34
  that's coming out. And I also think that there's a
• 14:36
  mismatch with your retail that still confuses Bitcoin with
• 14:40
  crypto and has unit bias issues. So I think that there's just
• 14:44
  this weird like combination that's going on right now.
• 14:47
  But what it feels like is like Bitcoin is like coiling, right?
• 14:50
  Like when massive positive news doesn't move the price more than
• 14:55
  like a bit, it tells me actually that the, the the media phase of
• 15:00
  the bull market that we're all expecting this year hasn't
• 15:02
  hasn't happened yet. I don't know what that means.
• 15:05
  I don't know where numbers go. I at this point in my Bitcoin
• 15:07
  journey, I, I'm sort of a take it level to level and just keep
• 15:10
  stacking and you're going to be fine sort of mentality about it.
• 15:14
  But it clearly feels like the entire system is creaking and
• 15:17
  transforming and it's just weird out there.
• 15:20
  I don't know how. Any other better way to say it?
• 15:22
  You know, I mean, I I think you, you make a really good point.
• 15:24
  We we had Lop on the show, I think it was like a week ago or
• 15:28
  so. And he said like verbatim,
• 15:30
  right. And like he was like even saying
• 15:32
  he was like, yeah, I'm in Telegram chats with O GS and
• 15:35
  like no one has any idea what's going on.
• 15:37
  Like American Hoddle's posting this as well.
• 15:40
  Yeah, I was just thinking. Of when Hoddle's getting.
• 15:42
  Bearish. It's not even, it's not even
• 15:45
  bearish. No one.
• 15:46
  I don't think, I don't think you can make the the case that
• 15:49
  Hoddle is bearish. I think like everyone's just
• 15:52
  like what is going on. Like that's essentially like the
• 15:55
  TLDR is like what is going on? No one knows.
• 15:58
  Yeah, we're not in Kansas anymore, Toto.
• 16:00
  Yeah, I mean it. It has gotten weird since they
• 16:03
  introduced the ETFs. It has gotten strange like we we
• 16:07
  peaked before the having that was a little weird.
• 16:11
  The price action has been very strange.
• 16:14
  I mean, Bitcoin could just be growing up like we could be in
• 16:17
  this like 8th month, 8th month sideways action get a night at
• 16:22
  night nice 50% pump, then 10% correction, then another two
• 16:27
  years 80% we're. We're trading the S&P 500 on
• 16:33
  steroids now. This is no longer fun.
• 16:35
  Where's the Bitcoin games I was promised, Nico?
• 16:38
  Yeah, I don't know, I don't know man.
• 16:40
  Or or it could just RIP one day. It could just RIP out of nowhere
• 16:44
  and just catch everyone by surprise.
• 16:46
  Anyways, I do want to give a shout out to the 1300 of you
• 16:48
  guys that are watching live. Make sure to smash that like
• 16:51
  button if you guys are enjoying today's show.
• 16:53
  We did start a little bit late. I apologize.
• 16:55
  I'm having Internet issues since I've gotten back from El Savid.
• 16:58
  That was a crazy trip. We we can't, we can't blame
• 17:01
  Puerto Rico anymore, Nico. So you got to get, I mean the.
• 17:04
  Porto, Puerto Rico Internet was was great.
• 17:07
  It just fell out like you know, every every every 45 minutes or
• 17:13
  45 minutes or so, it would go down for like 3 or 4 seconds,
• 17:16
  but at least it was good Internet.
• 17:18
  This is this is more stable. But look look, look at the look
• 17:22
  at the connection not that great anyways, guys, if you guys are
• 17:25
  enjoying the show, like I said, smash that like button.
• 17:27
  It's going to be a great show. We have lots to talk about
• 17:29
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• 20:36
  on their store. Head over to stampse-ed.com
• 20:39
  today. Hi everybody, we are back.
• 20:45
  At the time of recording, the Bitcoin price is $93,750.
• 20:51
  Block height 894,338 SAT's per dollar 1067 Market cap 1.86
• 20:58
  trillion Bitcoin versus gold market cap 7.94% Percentage
• 21:03
  issued 94.55% Decline from all time high -14.1% realized
• 21:09
  monetary inflation point eight 4%.
• 21:12
  The grand scheme of things, we are just getting the party
• 21:15
  started. Anyways, I have a video for you
• 21:17
  guys which I find interesting. Sorry about that.
• 21:20
  Here is Anthony Pompiano talking to Jack Maulers about running a
• 21:26
  Bitcoin on, sorry, running a company on a Bitcoin standard.
• 21:31
  I have the video for you guys. Let's check it out.
• 21:34
  People that we've talked to over the last couple of days have
• 21:36
  talked about the public companies adopting the Bitcoin
• 21:39
  standard and putting Bitcoin in their treasury.
• 21:41
  Strike is not only a great Bitcoin brand, it's not only a
• 21:45
  fast growing kind of user platform.
• 21:48
  You also have Bitcoin on your balance sheet and you and I know
• 21:51
  each other well enough at this point that I pretty sure every
• 21:53
  time you make a decision is denominated in Bitcoin,
• 21:57
  including like what do I eat for lunch today?
• 22:00
  What have been the pros and cons, and what have you learned
• 22:02
  about operating with that Bitcoin standard as a private
• 22:04
  company? Yeah, I mean, I got my comms
• 22:09
  team, which is just a beautiful, awesome, hard working woman
• 22:13
  named Lavinia back there. And we debate all the time.
• 22:15
  Strike's a private company and so people don't know, but it's
• 22:19
  I, I would assume it's one of the most profitable Bitcoin
• 22:22
  companies in the world. I mean, we operate well over 85%
• 22:26
  gross profit margins. We've got some of the highest
• 22:28
  EBITDA margins in the world, even in the public market.
• 22:32
  So we are a business that is like micro strategy.
• 22:35
  We're just in the private sector, but we sweep all of our
• 22:37
  cash flows into Bitcoin. We hold the minimum amount of
• 22:40
  cash reasonable as a business, as a person, as an individual, I
• 22:44
  own zero U.S. dollars. And so it changes everything in
• 22:49
  a really fundamental, principled way because as a company, you
• 22:52
  know, listen, if the cost of capital is the dollar, it's
• 22:56
  effectively 0. And you've got excess amounts of
• 22:59
  venture and people willing to just throw cash at you.
• 23:01
  And it's very hard to make decisions, you know?
• 23:03
  Well, what are we supposed to do with all this money?
• 23:05
  Let's turn on Instagram marketing ads.
• 23:07
  Let's launch 100 products. Let's open a nice office in New
• 23:10
  York City. And you're burning capital
• 23:12
  because the cost of capital is 0, right?
• 23:15
  It can't get any worse than holding dollars because that's
• 23:18
  just bleeding to death. So you might as well just punt
• 23:21
  on whatever. This employee has a cool idea.
• 23:23
  Yeah, go work on it. All of a sudden, if we introduce
• 23:27
  our treasury asset in the way we measure capital in something
• 23:31
  that's compound, annual growth rate is 60% over the last 10
• 23:35
  years. When an employee comes to me and
• 23:36
  says I have an idea, I say how good of an idea, 61% every year.
• 23:41
  Good. Because if not, get the fuck out
• 23:44
  of my office. Sorry.
• 23:46
  And that's built a really good culture.
• 23:50
  Our growth rate is astounding, our efficiency.
• 23:53
  So when I talk about things like EBITDA margins, gross profit
• 23:56
  margins, we run a tight ship. And you know, I'm a Midwest, you
• 24:02
  know, founder that was raised in the Chicago pits by traders.
• 24:05
  But also our governance and our culture is imposed by Bitcoin.
• 24:09
  And that's the real cost of capital that the world didn't
• 24:13
  have before. You know, you were racing
• 24:16
  against growth. Companies were doing stock
• 24:18
  buybacks. And now all of a sudden, what
• 24:20
  Michael's doing at MSTR, what we're doing at Strike, is
• 24:23
  imposing, you know, real physical constraints and cost of
• 24:26
  capital that you don't make humans.
• 24:31
  I mean, that's really, really interesting lot lots to break
• 24:34
  down and and what's what's really interesting about that
• 24:36
  too is like that was before 21 was announced, right.
• 24:41
  So he was working on, he was working on that in the
• 24:43
  background, which was really interesting.
• 24:45
  But I do want to pass it on to just, I mean, like the whole
• 24:50
  idea again of operating on a Bitcoin standard, I think
• 24:53
  changes the whole conversation because if you're thinking about
• 24:57
  it, it's like, OK, yes, build up your treasury, you know, build
• 25:01
  up your Bitcoin treasury as a company.
• 25:03
  That's you definitely want to do that.
• 25:06
  But you get put in a situation where if you want to spend your
• 25:09
  Bitcoin treasury, you know that that hurts a lot more than
• 25:14
  spending your dollar treasury. I feel like spending your dollar
• 25:17
  treasury is like, it's OK, spending your Bitcoin treasury.
• 25:21
  You know, it's going to be a lot harder to build that up in the I
• 25:23
  mean, apparently not because Bitcoin is now a stable coin.
• 25:27
  But, you know, back back when Bitcoin went up, it, you know,
• 25:30
  it, it, it gave you a feeling of like, I should probably not
• 25:34
  spend this because, you know, it's going to be very difficult
• 25:36
  for me to get it back. But clearly that's not the case
• 25:39
  anymore. And we're stuck at $93,000 for
• 25:42
  the next 10 years. But, you know, if Bitcoin did,
• 25:45
  did what it did a year ago or two years ago or three years
• 25:48
  ago, you know, yeah, it'd be a, it would be a good decision.
• 25:51
  Maybe I'm a little bit burnt. I don't know.
• 25:53
  Kent, what are your thoughts? Man, I think Jack Mahler's
• 25:57
  really hit the nail on the head there.
• 25:58
  He's giving me the thumbs down for being bearish.
• 26:01
  Kent. No, man, I'm not, I'm not as
• 26:04
  bearish as you are, that's for sure.
• 26:05
  But I, I would say that his point is completely salient
• 26:09
  about, hey, you need to have a good idea to make it worth my
• 26:13
  while to spend, spend my treasury.
• 26:15
  So I think just to back up a SEC about SAS mining, right, We, we
• 26:19
  pass through the cost of electricity and, and hardware
• 26:23
  and, and provide a mining as a service platform to our clients.
• 26:26
  And then we take a percentage of the Bitcoin that's mined just
• 26:29
  15% when it's paid out from the pool.
• 26:31
  So we are accumulating our revenue is Bitcoin and we
• 26:35
  accumulate that in the treasury. And you are 110% accurate that
• 26:39
  spending that Bitcoin is the hardest damn thing that we do.
• 26:43
  We do everything in our power operating ethically and, and,
• 26:47
  and, you know, fall into with our brand promises to just avoid
• 26:51
  having to spend that Bitcoin because once we do, we know how
• 26:55
  hard it is to, to bring it back into the treasury if we have to.
• 27:00
  It's there. But it's kind of like you, you
• 27:02
  develop in this reserve store of, of I hate the analogies with
• 27:06
  energy, but it is, it's, it's almost like this, this monetary
• 27:09
  energy that you've got sitting there that you can deploy if you
• 27:13
  get into a pinch, but otherwise, like just let it bake, like let
• 27:17
  it sit there. So yeah, I, I, I feel, you know,
• 27:21
  I know exactly what he's talking about with when it comes to
• 27:24
  spending that Bitcoin out of your treasury.
• 27:26
  And it fundamentally does something different to you when
• 27:28
  you think in Bitcoin and you step through the looking grass
• 27:31
  and and ultimately operate on a Bitcoin standard first and
• 27:36
  foremost. And I think as more and more
• 27:38
  businesses funds folks do that, I, I think it's actually going
• 27:44
  to transform society along the way.
• 27:45
  A. 100% and I think that's what he was saying too, right again.
• 27:50
  And like, and the example for you guys is like compare and
• 27:54
  contrast. How like, you know, just for the
• 27:57
  everyday individual, compare and contrast how easy it is to spend
• 28:01
  cash versus how easy it is to spend Bitcoin when it used to go
• 28:05
  up back in the past, before it was a stable coin.
• 28:09
  It like it, it hurt, right? It hurt right.
• 28:12
  Like cash was just like, oh, OK, you know, great.
• 28:15
  Like who cares? Bitcoin, it's like Ouch, that
• 28:20
  hurts. You know, it, it, it stinks
• 28:22
  every time. And I think that's your, like,
• 28:25
  instinct telling you what is real money and what is not real
• 28:29
  money. I think it's your body, like
• 28:31
  instinctively reacting to it Before Bitcoin became a stable
• 28:34
  coin. Like, it's not like that
• 28:36
  anymore. But Opti, what's your take on
• 28:38
  this, bro? You know, why did you make
• 28:40
  Bitcoin a stable coin? This is your fault.
• 28:43
  I want to give a shout out to Opti, by the way, because Opti's
• 28:46
  being been the GOAT holding it down, hosting the show for the
• 28:50
  last four days while I've been in El Salvador traveling,
• 28:55
  recording shows. So I do want to give a really,
• 28:58
  really nice shout out to Opti for doing that.
• 29:00
  Well, you know, I'm like that one meme.
• 29:02
  I'm, I'm holding the team on my back though.
• 29:04
  So you know, you know how it goes.
• 29:06
  Anyway, Nico, that is, that is Smaller's point.
• 29:10
  You know, first of all, Nico's bearish because he didn't want
• 29:12
  to spend his Bitcoin to get good Internet here.
• 29:14
  And so this is where all the cope is coming from.
• 29:18
  But anyways, that that's the point.
• 29:20
  I think that was the point of what Mahlers was saying is what
• 29:24
  we're seeing with Bitcoin and with Bitcoiners and Bitcoin
• 29:26
  companies, as you know, on an individual level and a company
• 29:29
  level is that you actually think about spending your money
• 29:32
  differently. And this is by design and the
• 29:35
  restraints that you feel as a Bitcoiner because you know the
• 29:38
  opportunity cost of, you know, where the Bitcoin will
• 29:40
  potentially be in the future, you start to think differently
• 29:43
  about the cash you have in reserves.
• 29:45
  And I really like that statement that Mahler said is like, look,
• 29:48
  Bitcoin's been going up 60% per year.
• 29:50
  So do you have an idea that is 6 that's going to return me 61%?
• 29:54
  Because if you don't like, I don't want to hear it.
• 29:56
  You know, he's like, get out of my office.
• 29:58
  And I mean, like, we do the same thing here.
• 30:01
  Everything we do is restrained by Bitcoin and trying to stack
• 30:04
  as much Bitcoin in our, our, you know, our corporate treasury
• 30:07
  here, our, you know, business treasury here.
• 30:10
  And and we, you know, there's a lot of things Nico and I would
• 30:13
  like to do, but we're always thinking like, man, can we
• 30:16
  really, you know, afford to spend this Bitcoin for the
• 30:19
  company today when we know if we can just survive for another
• 30:22
  year or two or four, it's going to be way more.
• 30:25
  And then we can actually spend more money on the company and,
• 30:28
  you know, give you guys more awesome products and a more
• 30:30
  awesome show. And that's the whole point of
• 30:33
  this thing is like what we're seeing is companies that are so
• 30:38
  used to being high on the Fiat supply in this free money are
• 30:42
  now having to basically restrain themselves with this new hard
• 30:47
  money that is Bitcoin. And it does fundamentally change
• 30:50
  how you view your business, how you view your expenses.
• 30:53
  And it's something I've been saying on the show for a long
• 30:56
  time, usually more in the sense of how you should run your own
• 30:59
  personal life, that proof of work is not just, you know, a
• 31:02
  mining protocol. It's a way of life.
• 31:04
  And further, as we see Wall Street basic, basically, you
• 31:07
  know, enter the Trojan horse of Bitcoin into the gates, you're
• 31:11
  going to start to see these companies essentially figure out
• 31:14
  what proof of work actually means.
• 31:15
  And they will have to restrain themselves.
• 31:17
  And I think this is a good thing.
• 31:19
  And this is how we, you know, get in the gates and dismantle
• 31:22
  the system that we're seeing. It's it's obviously going to be
• 31:24
  a slow trickle idea here, but that's the point.
• 31:28
  Like if you have free money flowing, you don't care what you
• 31:31
  do with it. You we've seen this happen in
• 31:32
  the VC world. We've seen this happen in the VC
• 31:34
  world with the shit coin world where they just throw money at a
• 31:37
  bunch of ridiculous ideas and a bunch of people get hurt.
• 31:40
  And This is why Bitcoin only companies do grow slower is
• 31:46
  because we all price everything in Bitcoin and we're taking the
• 31:49
  long route here. You know, you're taking the,
• 31:51
  the, the path that is less traveled and it doesn't return,
• 31:55
  you know, spectacular what you know, 20,000% returns in one
• 32:00
  day. It's like this is going to be a
• 32:03
  long term, you know, building experience here where it's going
• 32:07
  to take, you know, 5/10/20 years.
• 32:09
  It's not sexy. I, I actually made a tweet the
• 32:11
  other day and I'm not going to pull it up because I forget what
• 32:13
  the tweet was. But the crux of the tweet was,
• 32:16
  you know, you want to like Bitcoin is boring because it's
• 32:19
  going to take like 10 years for you to do what you want to do.
• 32:22
  And like the, the, the boring way to accumulate wealth is
• 32:25
  literally just buy Bitcoin and do nothing.
• 32:27
  And the sexy way is what we see, you know, part of just the
• 32:30
  capitalist culture. The, the, the fiber of our
• 32:33
  society is like, get rich overnight.
• 32:35
  It's it's very interesting how our culture everywhere globally
• 32:38
  right now always kind of makes heroes out of people that make
• 32:42
  extreme wealth overnight. But the real wealth builders are
• 32:46
  the guys that have been doing something for 1020 years.
• 32:48
  Like look at Walmart. It's not sexy, but they're one
• 32:51
  of the biggest, you know, companies in the world and
• 32:53
  they've been doing this for the last 1020 years plus.
• 32:55
  And they have a very boring business model, but it's
• 32:59
  extremely profitable. Whereas, you know, everyone
• 33:02
  would much rather make a movie about like the Wolf of Wall
• 33:05
  Street than the Walton family. I normally watch the Walton
• 33:07
  family video, but we all love Wolf of Wall Street.
• 33:10
  And I think that's, you know, a signal of the culture and where
• 33:13
  we are right now. And, and that is slowly changing
• 33:15
  and Bitcoin's going to restrain that and and you know, change
• 33:18
  the culture slowly. Bullish on Walmart, not Wall
• 33:22
  Street. I like that.
• 33:24
  Great, great, great saying by Optimus Fields.
• 33:27
  I'll take it. No, but that's a that's a very
• 33:30
  good breakdown. Yes, I think bitcoins going to
• 33:32
  fundamentally change. I mean, Bitcoin two years ago
• 33:36
  was going to fundamentally change the world in terms of how
• 33:39
  they view it now that it's a stable coin.
• 33:42
  You know, bro, this is this is, this is the new gold man, I love
• 33:46
  it. S&P 500 guys, get ready.
• 33:49
  We're trading the S&P 500 now it.
• 33:51
  Only took a decade. No but no seriously, I think it
• 33:55
  Bitcoin's going to fundamentally change how people view money.
• 33:58
  I think it comes down to that. Like if you are to someone in
• 34:01
  the chat. Walmart is hella sexy bro.
• 34:04
  What you mean? Oh, man.
• 34:10
  But no, I mean, like if you just break down in essence, what
• 34:14
  Mahler said, what Opti said and what Kent said, it just, it
• 34:17
  boils down to this. Compare and contrast how easy it
• 34:21
  is to spend dollars versus how easy it is to spend your
• 34:25
  Bitcoin. It is significantly harder
• 34:27
  psychologically, emotionally, spiritually, I said it, to spend
• 34:31
  your Bitcoin than it is to spend dollars right there.
• 34:34
  Listen to your body. It's telling you something.
• 34:37
  It's sending you a signal, right.
• 34:39
  Anyways, guys, it's going to be a great show.
• 34:40
  We have tons to cover. We have a spicy news story for
• 34:44
  you guys today. I've been screaming off the,
• 34:47
  I've been screaming this from the rooftops for the last week
• 34:50
  or so. I've been saying that the Fed is
• 34:52
  politically compromised and more news has come out from Senator
• 34:58
  Lummus's office. And Caitlin Long.
• 35:00
  Caitlin Long is the founder and CEO of Custodia Bank.
• 35:03
  Remember, Custodia Bank was denied a federal banking charter
• 35:09
  during the Biden administration. And apparently what has happened
• 35:12
  is the Fed has walked back some of these regulations.
• 35:15
  But it seems like either Senator Lummus or Caitlin Long, they're
• 35:19
  both calling bullshit. They're both saying that's not
• 35:21
  true, right? And there's evidence that
• 35:25
  essentially the Fed is actually working against the Trump
• 35:29
  administration, which again, I've been saying for the last
• 35:31
  2-3 weeks or so, even Trump is beginning to say that as well.
• 35:36
  He's publicly beefing with Powell on on Truth Social.
• 35:40
  It's absolutely hilarious. And then this leads me to, you
• 35:43
  know, my point, which is the Fed is not an independent
• 35:47
  institution if it's acting politically, right?
• 35:50
  And I think the Fed has to act politically because I think in
• 35:55
  the future we really have two choices ahead of us.
• 35:58
  So I say this all the time, we have a Bitcoin future or we have
• 36:02
  the continuation of central banking, which is a central bank
• 36:06
  digital currency is what what's happening in China.
• 36:08
  I don't think there's going to be any in between in my when
• 36:11
  all, when everything is said and done and all the dust settles,
• 36:14
  you're going to have two choices to go to like it's society's
• 36:19
  going to go by. It's either going to go the the
• 36:21
  choice of freedom or the choice of, I would say slavery, which
• 36:25
  is the continuation of central banking, which I you can make a
• 36:27
  very solid argument is a form of slavery, right.
• 36:31
  So anyways, I think this is going to continue.
• 36:35
  I think the games are not going to end here.
• 36:37
  And we've been front running a lot of the things that we've
• 36:40
  said on simply we we like called like one or two years before
• 36:44
  they actually happened. I think eventually the political
• 36:48
  movement is not to just end the regulatory attack on Bitcoin.
• 36:53
  I think that we already won that we, we got a a pro Bitcoin
• 36:57
  present in the White House at least for the next four years or
• 37:00
  so. What is really ahead of us that
• 37:03
  I think people really have to pay attention to is we have to
• 37:08
  get a president in the White House that wants to end the Fed.
• 37:11
  We need an Andrew Jackson of 2026.
• 37:15
  In the end, the Fed type of mentality and the Fed type of
• 37:19
  policy, we really need someone in there with that mentality.
• 37:23
  This, oh, I'm going to play nice with the Fed and that's not
• 37:28
  going to work right. And this is I think what people
• 37:30
  have to understand. They have to internalize, move
• 37:34
  the effing, the effing Overton window.
• 37:36
  I think Fiat and Bitcoin are incompatible.
• 37:40
  I don't think they get along. I think it's like oil and water.
• 37:43
  I think trying to mix the two systems, right, is going to just
• 37:47
  highlight that more and more, look, people are going to choose
• 37:50
  better money. If they have a choice between
• 37:52
  something that the government can censor and debases forever,
• 37:57
  right, versus something that is supposed to not anymore, but
• 38:00
  it's supposed to appreciate forever, People are like
• 38:05
  naturally going to pick the better money.
• 38:07
  That's what's going to happen, right?
• 38:09
  So I, I, I think this idea of trying to normalize the central
• 38:14
  bank, I think is, is, is, it's a losing battle.
• 38:18
  It's like playing with their, it's a, playing in their
• 38:21
  narrative, playing in their territory.
• 38:23
  I think the institution is corrupt.
• 38:25
  I think it's inherently going to be corrupt.
• 38:27
  I think it's inherently going to try to protect itself.
• 38:31
  I think it's going to fight for its survival, even if it costs
• 38:36
  the people that it's supposed to serve.
• 38:38
  I think it's going to inherently do all those things.
• 38:40
  And I think I think we're just starting to see the very
• 38:42
  beginning of it. Anyways, guys, gonna be a great
• 38:44
  show. Let's get to the news.
• 38:45
  We'll be right back. I want to give a shout out to
• 38:48
  our sponsor Casa. Casa makes self custody easy and
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• 41:12
  an MK4 or cold card queue and you got 5% off anything on the
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  store. This is this is by far the best
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  supplies last I rest right, I said it promo code simply 5% off
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  anything cold card store all right everybody, So what are we
• 41:31
  talking about? Let's go down this rabbit hole.
• 41:33
  I mean I'm calling it now it sounds crazy, but there's been a
• 41:37
  lot of shit that me and Opti have said over the years that
• 41:39
  sounded crazy and then six months to nine months later we
• 41:43
  just get completely absolutely vindicated.
• 41:47
  So I'm totally going to start trying to it's obvious it's not
• 41:52
  rocket science, right? Here's Lynn Alden.
• 41:54
  She's noticing it too. Isn't the like famous like
• 41:57
  matrix meme, right? She's meet Lynn is memeing all
• 42:01
  over the place and Jerome Powell and and Trump are literally
• 42:05
  throwing shit at each other and then me and then Lynn says the
• 42:09
  president is fighting the Fed chair, right.
• 42:12
  And then if you pull up some of this, and I started to notice
• 42:15
  this too, 0 head started connecting the dots, right?
• 42:19
  I made I said the Fed is politically compromised.
• 42:22
  It's time to end it, Trump. President Trump says preemptive
• 42:25
  cuts in interest rates are being called for by many.
• 42:28
  With energy costs way down, food prices substantial lower, and
• 42:33
  most other things trending down, there's virtually no inflation.
• 42:36
  With these costs trending so nicely and nicely downward, just
• 42:39
  what I predicted they would, there can be.
• 42:42
  There can almost be no inflation, but there can be a
• 42:44
  slowing of the economy. Unless Mr. too late, a major
• 42:48
  loser lowers interest rates now. Europe has already lowered them
• 42:52
  seven times. Powell has always been too late,
• 42:55
  except when it came to the election period when he lowered
• 42:58
  in order to help Sleepy Joe Biden and later Kamala get
• 43:02
  elected. How did that work out?
• 43:05
  Right? And now here is a chart of what
• 43:07
  Trump was referring to in terms of the Fed cutting rates.
• 43:13
  You know what, what I and then take a look at the the tighter
• 43:17
  kind of monetary like what, what I will say is like, just think
• 43:22
  about it from like an incentive's perspective.
• 43:24
  Like think about put all the like conspiracy theory and
• 43:27
  politics and all of that bullshit aside.
• 43:30
  Just put it aside for a second. If you take Trump was anti CBDC.
• 43:38
  He made it part of his campaign. His executive order as it
• 43:43
  relates to Bitcoin specifically forbade the government from
• 43:49
  launching a central bank digital currency.
• 43:51
  A central bank digital currency is the continuation of the
• 43:55
  Federal Reserve. It's the continuation of the
• 43:58
  central bank system. Bitcoin is an alternative path.
• 44:03
  So if you have the candidate that is pro CBDC and anti
• 44:09
  Bitcoin and you have the candidate that is anti CBDC, pro
• 44:13
  Bitcoin, do you think the Fed is just going to sit back?
• 44:17
  They have 20,000 employees. Do you think they're just going
• 44:20
  to sit back and twiddle their thumbs and say no, their job is
• 44:25
  on the line. It has nothing to do with
• 44:26
  politics. It has to do with that is their
• 44:28
  job. That's how they get employed.
• 44:30
  Do you think they're just going to sit back and be a political
• 44:34
  right? What's the saying that we
• 44:35
  always, I don't think we always say this, but it's like, follow
• 44:38
  the money, right? It's a very famous saying.
• 44:40
  And I think it just comes down to that.
• 44:42
  So anyways, there's more developing news when it comes to
• 44:45
  this. There's a reason why I wanted to
• 44:47
  cover it today. So check out this Protos
• 44:50
  article. Jerome Powell defies Trump,
• 44:53
  keeps crypto restrictions at Fed.
• 44:57
  Crypto politicians are discussing a number of changes
• 45:00
  in Federal Reserve policies that seem to indicate Jerome Powell's
• 45:03
  willingness willingness to defy Donald Trump.
• 45:07
  Despite the Fed's claim to have withdrawn crypto guidance in
• 45:10
  compliance with one of Trump's executive orders.
• 45:13
  Senator Cynthia Lummis and Wyoming politician Caitlin Long
• 45:19
  calls its actions mere lip service.
• 45:21
  Here are the actual hosts themselves.
• 45:23
  Here's Senator Lummis. She says the Fed withdrawing
• 45:26
  crypto guidance is just noise, not real progress.
• 45:30
  We are not fooled. the Fed assassinated companies within
• 45:34
  the industry and hurt American interest by stifling innovation
• 45:39
  and shuttering businesses. This fight is far from over.
• 45:44
  Caitlin Long drops a thread. We're going to go over it.
• 45:46
  But anyways, this is weird. This is interesting.
• 45:50
  Why is this interesting? Why is this weird?
• 45:53
  Because if you take a look at the last election, President
• 45:57
  Trump, whether you like him, dislike him, whatever.
• 46:01
  We live in a democratic society, supposedly, right?
• 46:04
  So you as an individual, every two years, you have the ability
• 46:09
  to vote for representation. Washington, DC.
• 46:12
  That's how the system is supposed to work, right?
• 46:17
  Who the F elects the Fed chair? And clearly there is a mandate,
• 46:24
  right? There's a mandate by the
• 46:25
  American people. They put a president in office,
• 46:28
  they put a Republican. Republicans take the House,
• 46:30
  Republicans take the Senate. And essentially, the Federal
• 46:34
  Reserve is saying, F you, right? Like, that ain't very
• 46:38
  democratic. That doesn't sound very
• 46:40
  democratic. That sounds like the Fed is kind
• 46:43
  of acting on its own, on its own behalf for its own interests.
• 46:48
  And they're the ones that control the money, right?
• 46:51
  Like, you know, we always say Bitcoin exposes incentives.
• 46:55
  Like, I don't think the book was called the creature from Jekyll
• 46:58
  Island for no reason. I think Bitcoin is just exposing
• 47:01
  the creature for everyone to see.
• 47:03
  That's my opinion. We always say this, Bitcoin
• 47:04
  exposes incentives. I think Bitcoin is exposing the
• 47:07
  Federal Reserve. I think Bitcoin is going to
• 47:09
  expose all central banks. The same thing is happening in
• 47:12
  Europe. The difference is that Europe,
• 47:14
  they don't give an, they don't give an F.
• 47:15
  They're like, you know what, you don't like?
• 47:17
  Us don't care. Central bank, digital currency,
• 47:20
  take it here. They're like they, it's like a
• 47:22
  little bit of Polk and Dagger type of situation.
• 47:25
  Reasserting Powell's independence from the executive
• 47:28
  branch This month, Trump relented on speculation that he
• 47:31
  could fire Powell from his position of chairman at the
• 47:34
  world's most powerful central bank in Bolden.
• 47:37
  Powell has limited his compliance with Trump's January
• 47:40
  23rd executive order. Quote, protecting and promoting
• 47:44
  fair and Open Access to banking services.
• 47:46
  Jerome Powell reduced crypto banking restrictions somewhat.
• 47:50
  According to the Federal Reserve Bank Board, its banking
• 47:53
  supervisors have narrowly withdrawn guidance that
• 47:57
  restricted certain crypto activities at banks.
• 48:00
  In particular, the Fed rescinded an expectation that banks
• 48:03
  provided advance notice of crypto asset activities, removed
• 48:07
  a a cumbersome non objection process for certain stablecoin
• 48:12
  activities and lighting guidance about banks crypto limitations
• 48:16
  and crypto asset exposures. It has stamped withdrawn
• 48:20
  guidance in red lettering. However, pro crypto commentators
• 48:24
  said those actions fell short. Senator Lemus said we are not
• 48:27
  fooled. According to her, the Fed is
• 48:30
  still violating the law on master account applications and
• 48:34
  has not withdrawn an unsafe and unsound policy statement on
• 48:38
  crypto and of course, is still perpetuating Operation Choke .2
• 48:44
  Point O. That part that mean, again,
• 48:49
  we're supposed to live in a quote UN quote democratic
• 48:52
  society. That's the whole thing.
• 48:54
  That's the reason we go along with this.
• 48:57
  If there was a mandate by the American people to put
• 49:02
  essentially representatives in office, whether it's the Senate,
• 49:06
  the House or the executive branch that would end Operation
• 49:09
  Choke .2 Point O, the Fed is basically saying we don't care.
• 49:14
  And you know what I think they're trying to do, I think
• 49:17
  they're trying to delay until the midterms, which is less than
• 49:21
  two years from now. And then you're right back where
• 49:25
  you started. That's what I think is
• 49:26
  happening. I think it's clear as day.
• 49:29
  Anyhow, goes on to say Wyoming politicians and central bank
• 49:33
  founder Caitlin Long Flag supposedly restricted guidance
• 49:35
  that the Fed board approved on January 27th, 2023.
• 49:39
  To her dismay, she found that the guidance remained in place.
• 49:43
  That guidance requires banks to make their crypto custodial
• 49:46
  services comply with quote, consumer anti money laundering,
• 49:50
  anti terrorist financing financing laws.
• 49:52
  It also requires banks to maintain risk management and
• 49:55
  internal controls for their activities.
• 49:58
  I'm persuaded by this. Unless a governor is fired for
• 50:01
  cause, the Fed will remain 4 to 3 decontrolled until January
• 50:06
  2026. In short, the Federal Reserve
• 50:10
  previous guidance for digital asset outlined in supervisory
• 50:14
  letter letters issued in 20/22 and 20/20/23.
• 50:17
  It will now monitor banks digital asset related activities
• 50:21
  through a quote normal supervisory process rather than
• 50:24
  requiring advance notifications. The Fed also joined the FDIC in
• 50:28
  the Office of the Comptroller of the Currency and Withdrawing
• 50:31
  Joint Guidance on Banks, Digital Asset Related activities and
• 50:35
  exposure exposure issued in 2023.
• 50:38
  It will coordinate with these two regulatory bodies to
• 50:40
  determine whether new guidance is warranted, according to pro
• 50:44
  crypto politicians. Those actions fall short of
• 50:47
  Trump's intention in his executive order and other laws.
• 50:51
  Of course, Fed Chair Powell is ultimately responsible for
• 50:54
  ensuring the Fed's compliance with all the laws, but his
• 50:57
  actions continue his tradition of conservative and deliberate
• 51:00
  tweaks to policy rather than the drastic overhaul that crypto
• 51:04
  would prefer. Look, in my humble opinion, just
• 51:09
  like what Jack Mahler said, I don't think this is complicated.
• 51:14
  I think you just have to look at incentives and I think the
• 51:16
  incentives are clear. I think that if you are at the
• 51:20
  Fed and you're looking at your long term career trajectory,
• 51:25
  you're looking 10 years out, you want a central bank digital
• 51:29
  currency that is a continuation of your job.
• 51:33
  I think you are disincentivized to essentially let Bitcoin do
• 51:39
  its thing. I think it's as simple as that.
• 51:42
  I don't think it has anything to do with politics.
• 51:44
  I think it has to do with incentives.
• 51:46
  And then I've said this many times and before I end my RAN
• 51:48
  and pass it on to Kent, the people that are supposedly met
• 51:52
  to quote UN quote regulate the industry also have a lot to lose
• 51:58
  if the industry succeeds, if the industry does what it wants to
• 52:02
  do, what Bitcoin's goal is, right?
• 52:05
  So I mean, can we talk about that?
• 52:08
  We have that conversation like can we move the Overton window?
• 52:11
  Because like it's obvious to me and I used to, I remember when
• 52:16
  Opti and I used to notice things, we used to shut the fuck
• 52:18
  up because we thought we were absolutely crazy and bonkers.
• 52:21
  And we're like, no, dude, there's no way the news must
• 52:24
  have seen that. There's no that just these two
• 52:27
  bozos on YouTube that have cameras and fancy microphones.
• 52:30
  There's absolutely no way that we're noticing things before the
• 52:35
  so-called professionals. I'm calling it right now.
• 52:38
  It's clear as day. I think the Fed is acting
• 52:40
  politically and I think they're just doing it to preserve their
• 52:43
  job. I think it really comes down to
• 52:45
  that. And I think Trump is actively
• 52:48
  calling how a loser on Truth Social is just putting fuel on
• 52:53
  the fire. That's my two cents.
• 52:54
  That's what I'm observing. And I think this story is far
• 52:58
  from over. And I think we need many, many
• 53:01
  more elections before this comes to an end.
• 53:04
  I think just thinking that Trump was going to get in and all of a
• 53:10
  sudden they're just going to hand us over the keys.
• 53:14
  In hindsight, it is incredibly naive and stupid.
• 53:19
  I think this is going to take a little bit.
• 53:21
  I think it's going to take a while, but I think we're going
• 53:24
  to win because Bitcoin has better incentives and all they
• 53:26
  have is coercion. Anyways.
• 53:27
  I'm going to leave it at that. Kent, what are your thoughts,
• 53:30
  man? Are we seeing things that are
• 53:31
  not there? I've had this hunch.
• 53:33
  I was calling it before Trump said that the power that that
• 53:38
  the Fed and power were acting politically.
• 53:40
  I was screaming this on X, then he called it, then 0 Hedger was
• 53:45
  putting the dots and now you have AUS senator basically
• 53:48
  saying the same thing. It's like you guys aren't
• 53:50
  walking back anything, right? So what are your thoughts on
• 53:53
  this man? And why is the Fed acting
• 53:56
  politically? Aren't they supposed to be a
• 53:58
  quote UN quote independent agency or whatever?
• 54:02
  Are they an agency out of? I don't even know.
• 54:05
  Well, I know you worked up about it, man.
• 54:08
  I used to be worked up about it and then I kind of fell into the
• 54:12
  philosophy of Buckminster Fuller, which is if you want to
• 54:15
  change the existing system, just build a better system and and
• 54:19
  people will adopt it. I think that's what we're doing
• 54:21
  here at Bitcoin. So I don't spend time fighting
• 54:24
  the feds so much. But I fully agree with your
• 54:26
  assessment of the situation because it's, I mean, it was
• 54:29
  created under politics, right? What, what would make us think
• 54:33
  today? You read the creature of Jekyll
• 54:35
  from Jekyll Island, right? It was created in the shadows
• 54:38
  out on Jekyll Island on Georgia's coastline, right?
• 54:42
  And it was created as a political entity as a way to
• 54:46
  gain power. And I think honestly, Bitcoiners
• 54:49
  are the light that is causing disinfectant to occur to to them
• 54:54
  and expose them for what they are.
• 54:56
  I mean that I think that's part of our purpose.
• 54:58
  I actually think this is going to sound pretty, pretty, pretty
• 55:01
  bold. But I actually think that we've
• 55:03
  needed the Federal Reserve to actually appreciate what hard
• 55:07
  sound money is. And it took the Federal Reserve
• 55:10
  existing as just kind of this evil, malignant, sort of like
• 55:14
  nasty force, like stealing from us through inflation or time or
• 55:18
  energy for us to actually, as Bitcoiners appreciate Bitcoin
• 55:22
  when showed up on the scene, adopt it and ultimately, like
• 55:25
  expunge and get rid of the Fed. I think it's sort of inevitable
• 55:29
  based on incentives for the same reason.
• 55:31
  The incentives that you lay out, Nikko, are there for them to
• 55:35
  fight against this transformation because their
• 55:38
  paychecks are on the line. I think that we've got the same
• 55:40
  exact set of incentives in Bitcoin going the opposite
• 55:43
  direction that are going to actually wind up pushing them
• 55:45
  out. I mean, again, the best
• 55:47
  disinfectant for darkness is light.
• 55:49
  You bring the light into the attic and the cockroaches all go
• 55:52
  running for the corners, right? And I think that's what we're
• 55:54
  doing is Bitcoiners. Yeah, 100% actually.
• 55:57
  And, and it just reminded me of Kent while you were talking.
• 56:01
  Sorry guys. The the video might not be 100%
• 56:03
  resolution where you could hear the sound.
• 56:06
  James O'Keefe actually caught someone that worked at the Fed,
• 56:09
  I think. Opti, you played this last week,
• 56:11
  right? Like hear from his mouth, right?
• 56:15
  It's a crazy person. It's very.
• 56:17
  Clear. I mean, he's.
• 56:18
  Gone. By the CK Trump it like is the
• 56:21
  feeling. Neutral, of course.
• 56:22
  OK, seems to. Be remembered in history as
• 56:24
  like, as somebody who held the line, like like Trump and like
• 56:30
  somebody who like helped the economy and Trump was president
• 56:32
  who want to stimulate the economy.
• 56:34
  Right. But he wouldn't do it, and he
• 56:36
  started raising interest rates doing the opposite that Trump.
• 56:39
  Wanted like, that's effing crazy.
• 56:44
  That's nuts, That's crazy. But I mean, Kent, you have such
• 56:48
  an optimistic view, you have such an optimistic view.
• 56:50
  Let's just just build something outside of the system, a better
• 56:54
  system and you know kumbaya. Nothing but this bro.
• 56:58
  I, I, I live in the Amazon like I'm out there already.
• 57:01
  Right, I'm doing it. My my.
• 57:03
  Life is is that right? Like I, I so totally
• 57:07
  unintentional, like I left the, the US after having a corporate
• 57:10
  job in 2014, took a two year sabbatical.
• 57:13
  And you know, I fell in love with a Portuguese woman who
• 57:15
  wound up in Portugal starting in 2016.
• 57:17
  And life brought us to, to the Peruvian Amazon for my wife's
• 57:21
  work a couple years ago. And not intentionally.
• 57:24
  I'm very much American. I care about American values and
• 57:27
  building SAS mining and we're operating in South America,
• 57:31
  North America and Scandinavia at this point.
• 57:34
  But you know, I, I'm living this where I just feel like at the
• 57:38
  end of the day, Bitcoin is making us more sovereign.
• 57:41
  And as more and more of us go that direction, we're just going
• 57:44
  to quit fighting the existing system and and just keep
• 57:46
  building the the alternative because people are going to come
• 57:49
  into it as just, it's inevitable.
• 57:52
  They're just going to opt out. You've opted out.
• 57:54
  You've decided, you know, like F this Opti.
• 57:57
  I think we might have to do that, bro.
• 57:58
  I mean, we were talking about it six months ago.
• 58:00
  We're like, dude, we might have to move.
• 58:03
  I've been talking to you about it, Opti.
• 58:04
  And you're like, Nah. And then we kind of celebrated
• 58:08
  when when Trump won. And then three months later
• 58:13
  we're like, yo, wait, dude. I thought this is a lot harder
• 58:15
  than I thought. Yeah, I like warm showers and
• 58:19
  creature comforts, Nico. So I don't know.
• 58:21
  It's going to be tough. It's going to be tough.
• 58:23
  But like, like we were saying, and I I think all those bit
• 58:27
  corners know the meme and Kent brought up the creature from
• 58:30
  Jekyll Island and this is like fundamental, you know, Bitcoin
• 58:36
  one O 1 type stuff is that the Federal Reserve isn't federal
• 58:39
  and has no reserve that they banking cartel.
• 58:41
  Like you can unpack that as much as you want, but if you just
• 58:44
  remember that meme, you're you're pretty much good to go.
• 58:47
  Yes, it's kind of a generalization, but that's
• 58:50
  what's going on here. Now I am reminded of this very,
• 58:54
  very famous quote attributed to a member of one of the most
• 58:58
  infamous banking families ever is give me control of the money.
• 59:03
  And I care not who makes the laws.
• 59:05
  And we're living this. And that was said over 100 years
• 59:08
  ago or at least attributed to someone that supposedly said it
• 59:12
  100 years ago. But the point remains the same.
• 59:14
  Sometimes, you know, truth is is sent through society in memetic
• 59:20
  form. And whether someone said this or
• 59:22
  didn't, the point remains the same.
• 59:24
  If you can control the money, it doesn't matter who actually
• 59:26
  controls or makes the laws because you can basically just
• 59:29
  buy them out. And I think what Kent said is
• 59:32
  really is really the signal here is that more people are waking
• 59:36
  up to this and more people are asking this question.
• 59:39
  It's like, wait, what's going on with the Federal Reserve?
• 59:41
  I thought it was, you know, part of the government.
• 59:43
  I thought it was federal. It has it in the name, but it's
• 59:45
  really not. And I think we are in this
• 59:48
  moment where people are waking up to how things are actually
• 59:51
  working and who are the real puppet masters and what actually
• 59:55
  runs the world. And people are asking these
• 59:57
  questions. And I think as more people ask
• 59:59
  this question, we get to a point where people just.
• 1:00:02
  Just completely opt out of the system.
• 1:00:04
  It it I'm just being reminded of that one meme where it's like a
• 1:00:07
  politician and he's standing over the Cliff and there's the
• 1:00:11
  people walking off the board. You you guys know what you mean
• 1:00:13
  I'm talking about this is where we are.
• 1:00:16
  We just haven't woken enough people up like Bitcoiners, I
• 1:00:19
  think forget that we are still a very small minority of the
• 1:00:25
  population and we have to start waking people up.
• 1:00:28
  We're literally playing the telephone game right now and not
• 1:00:30
  enough people understand what the game is.
• 1:00:32
  And it's it's on us to continue to spread that information and
• 1:00:35
  hopefully wake more people up. And of course people will have
• 1:00:38
  to have multiple touch points on this because it, it didn't
• 1:00:41
  happen to you overnight. You kind of had to like go
• 1:00:44
  through 1 rabbit hole and then you kind of come back around
• 1:00:47
  you're like, oh wait, now that point makes more sense.
• 1:00:50
  And as you go deeper, you start to connect all these dots and
• 1:00:53
  you realize, oh, wait, the Federal Reserve is in federal
• 1:00:56
  has no reserve to the banking cartel.
• 1:00:58
  Maybe, you know, they're the ones that are in control of the
• 1:01:01
  politicians because they can just print money out of thin
• 1:01:03
  air. It's like what what's going?
• 1:01:05
  Actually, there was a interesting clip I saw this
• 1:01:08
  morning over the weekend. It was Terrence Howard on Bill
• 1:01:12
  Maher and they were having this conversation.
• 1:01:15
  And I think that is a sign of the times that, you know, some
• 1:01:19
  more normie friendly, you know, podcast and media scene content
• 1:01:24
  creation scenes are having the conversations that big corners
• 1:01:27
  are having. And I think this is just where
• 1:01:29
  we're headed. More people are starting to wake
• 1:01:31
  up. Maybe you're a little more
• 1:01:32
  esoteric and you're like, you know, the the where, where we
• 1:01:35
  are in the stars or whatever, you know, the human
• 1:01:37
  consciousness is waking up. Or I think people are just
• 1:01:40
  seeing the cracks in the damn and the information is getting
• 1:01:43
  out there. Now that we're all basically
• 1:01:45
  chronically online, people are able to get this information
• 1:01:49
  quicker and, and make up their minds for themselves.
• 1:01:51
  So I have hope that people can still turn on their brain and
• 1:01:55
  they'll get that information. It's just, you know, not going
• 1:01:57
  to happen overnight, but we're seeing that it's happening and
• 1:02:00
  that's that's obviously super bullish.
• 1:02:02
  Yeah, 100%. A creature from Jekyll Island.
• 1:02:06
  That's really what it is. I mean, I think it and look, I
• 1:02:10
  think it's just going to be exposed the more and more as
• 1:02:14
  time goes by. And then it's going to be an
• 1:02:16
  undeniable fact that they're not acting as an institution that
• 1:02:21
  has the best interest of the American people.
• 1:02:23
  I think they're, they're going to be acting as an institution
• 1:02:25
  that has the best interest of the institution.
• 1:02:28
  I think Bitcoin has a way of exposing incentives as time goes
• 1:02:31
  by. But as Kent pointed out, right,
• 1:02:34
  you can opt out, you can choose just to not part.
• 1:02:37
  This is the beauty of Bitcoin, right?
• 1:02:38
  It doesn't matter where you are. You could choose to opt out and
• 1:02:41
  have an Oasis wherever you are, wherever you are in the world
• 1:02:43
  and not have to deal with the whole political mumbo jumbo.
• 1:02:46
  But it's going to happen. And I think it's going to be a
• 1:02:49
  crazy process kind of seeing this unwind and just kind of
• 1:02:52
  people waking up to this reality.
• 1:02:54
  But I mean, what? It's been 100 years coming.
• 1:02:57
  So and then maybe it's going to take a lot longer than we
• 1:03:00
  anticipate. Appreciate the Super chat.
• 1:03:02
  Someone sent us $10. Thank you for the cheese.
• 1:03:06
  Does that mean we have to smile? I don't know, I think it's a
• 1:03:10
  meta meme about sending us cheese.
• 1:03:12
  I. Don't know it's true.
• 1:03:14
  All right, everybody, let's go to the.
• 1:03:16
  Culture. Let's talk about fast mining.
• 1:03:19
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  All right, everybody, we are back.
• 1:05:24
  We're going to talk about all things all things Kent mining,
• 1:05:27
  all things SAS mining, Kent mining, SAS mining and Kent.
• 1:05:32
  You have a demo for us, is that right?
• 1:05:35
  Yeah, Well, I, I, I, I heard a rumor that you were thinking
• 1:05:38
  about buying a mining rig. Is that is that I think.
• 1:05:40
  I think we're going to do, can we do that live, Kent?
• 1:05:42
  Is that how we're going to do it?
• 1:05:44
  I well, that would be sort of fun, wouldn't it all?
• 1:05:46
  Right, let's, let's try to do this live.
• 1:05:48
  Ladies and gentlemen, here we go.
• 1:05:50
  Because about the Dox's credit card number.
• 1:05:52
  So get ready. No, no, I think it has to be a
• 1:05:54
  big one. No, we'll give you the option.
• 1:05:57
  We we use that price. So you you choose your rail, but
• 1:06:01
  we do give. Well, we'll see.
• 1:06:02
  I won't. I won't.
• 1:06:03
  OK, OK. Sorry, sorry, hot take.
• 1:06:06
  Nico's going to dox his Bitcoin holdings, so get ready.
• 1:06:09
  No screen. Capture yeah, we going to pull
• 1:06:15
  this up or how are we going to do this can.
• 1:06:18
  I I'm well, I thought, I thought you.
• 1:06:20
  Were going to run the controls Nico no or.
• 1:06:22
  OK, Wait, wait, wait. Hold on, wait.
• 1:06:25
  Did you OK, hold on. So.
• 1:06:28
  You should just go to at mining.com.
• 1:06:29
  You'll be. I have it here website but Niko
• 1:06:32
  has the information. But I don't have the demo, no.
• 1:06:35
  No, no, I'll show, I'll show. So here's that work just for the
• 1:06:38
  audience, right? Like when you buy a mining rig,
• 1:06:40
  it's not live and hashing like the second that you purchase it,
• 1:06:43
  right? It takes us a little bit of
• 1:06:44
  time. Like right now it's under 30
• 1:06:46
  days. So I've got a demo to show what
• 1:06:48
  live data looks like on the back end.
• 1:06:49
  But you can show the front end on buying and then I'll show the
• 1:06:52
  back end of what it looks like when when you're rolling.
• 1:06:56
  I am I am resetting my password password as we speak.
• 1:07:00
  I forgot to log in classic classic.
• 1:07:04
  Dude, what a rookie. He's got bad Internet.
• 1:07:07
  Bro listen man. Let's pile on these.
• 1:07:14
  Are my favorite days when I control Nikka Live and.
• 1:07:17
  He no get a get a real. Wind up here.
• 1:07:20
  You know, after holding the team on my back, I get.
• 1:07:23
  The I love it. Boom boom boom.
• 1:07:26
  OK, all right, let's. Buy a mining rig there.
• 1:07:29
  Let's buy a mining rig. Here we go.
• 1:07:32
  Here's the process promo code. Simply right?
• 1:07:35
  Yeah, it might have popped up in another tab when you did that.
• 1:07:44
  Oh, I got the affiliate. OK, so let's put one of these in
• 1:07:48
  the cart. Well, I think it went to another
• 1:07:51
  tab. Yeah, it's on another tab
• 1:07:52
  because we're looking at your dashboard here.
• 1:07:54
  There you go. There.
• 1:07:55
  We. Go all right, acknowledge,
• 1:07:59
  proceed to purchase. Rate.
• 1:08:01
  Which one are you getting? Which one?
• 1:08:02
  Which one are you purchasing? The SS19XP Hydro OK, I'm all.
• 1:08:12
  Right now now, maybe pull it off screen real quick.
• 1:08:14
  Yeah, this is toxic information. Yeah, we'll pull that off screen
• 1:08:18
  a little bit until you're ready. So now you fill in your
• 1:08:21
  information, guys. We really didn't.
• 1:08:23
  We really didn't think this through.
• 1:08:25
  No, we should have. We should have had a good
• 1:08:26
  practice run. Shouldn't we need code next
• 1:08:28
  time? Next.
• 1:08:28
  Time I thought about it in my head and it seemed like a good
• 1:08:32
  idea. Well, if you, if you want, we
• 1:08:34
  could just shift it. I could show you what it looks
• 1:08:36
  like when you're live. OK.
• 1:08:38
  So I have it place the place the thing now it's select payment
• 1:08:43
  method and let's shift it and then we'll continue.
• 1:08:46
  I'll continue this off, yeah. You get it.
• 1:08:48
  You get to see the the Zaprite work we've done here.
• 1:08:51
  Am I pulling this up? What?
• 1:08:53
  What's the deal here, Nico? Yeah, Ken's gonna pull up his
• 1:08:57
  his screen. Yeah.
• 1:08:59
  Do you want me to? OK, I'll show what we got, Cook.
• 1:09:01
  And then on the back end here. Give me a SEC.
• 1:09:04
  All right, so here's there's a good demo account.
• 1:09:09
  This is actually my mining rig. I'm using my my personal account
• 1:09:12
  as a a demo until until we've built out a demo, an official
• 1:09:19
  demo account that we can release to the public.
• 1:09:20
  But quick, quick option down here, you can just go between
• 1:09:24
  Bitcoin and SAT's as your defaults.
• 1:09:27
  That's just that often requested.
• 1:09:30
  But you can see I've got 1 mining rig, 86 Tera hash.
• 1:09:33
  This unit, this is how much Bitcoin I've received since it
• 1:09:35
  went live two years ago, actually a little more January
• 1:09:38
  2023. And then this is how much it's
• 1:09:41
  sitting at the mining pool. It's on our data center in
• 1:09:44
  Wisconsin. My serial number and what the
• 1:09:47
  hash rate has been the last 24 hours and how much Bitcoin it's
• 1:09:51
  mined and I can go into my earnings a couple options here
• 1:09:55
  on the earnings tab. I can see when my next payouts
• 1:09:58
  going to occur from the mining pool.
• 1:09:59
  I can track all the transactions on the blockchain, see if the
• 1:10:03
  value of those are download them if I want to play some fun games
• 1:10:07
  there Billings section. This is where you add your
• 1:10:10
  credit card. If you want to pay by Fiat.
• 1:10:12
  A lot of our clients like to or if you want to pay with Bitcoin,
• 1:10:16
  lightning, ACH, wire tether, we offer those two.
• 1:10:19
  Those have all been requested. And then we've got your
• 1:10:23
  invoices. We only do precision billing and
• 1:10:26
  it's cost pass through. So this is the cost of running
• 1:10:29
  my mining rig. This is not actually the there's
• 1:10:34
  no markup. So one of the ways it's really
• 1:10:36
  sets us apart is the fact that we pass through the cost of the
• 1:10:40
  hardware and the electricity. And then on the back end, we
• 1:10:43
  take a 15% cut, which is already reflected in the numbers that
• 1:10:47
  you see here. And the last thing we've done,
• 1:10:50
  it's build out a referral program for our clients.
• 1:10:53
  We've been, we've had clients pretty happy with the outcome
• 1:10:57
  and have been sharing us out there across socials.
• 1:11:00
  In fact, we've got a Trustpilot score above 4/6 at this point,
• 1:11:03
  which we're really proud of. But this allows you to get
• 1:11:06
  $50.00 worth of SAT's for each friend who purchases a rig.
• 1:11:09
  Give them a $50 discount. And I'm going to do a nice
• 1:11:12
  little treat here for whoever's quickest with their Lightning
• 1:11:15
  wallet because that actually we did some testing, made sure
• 1:11:19
  everything worked on the referral program before.
• 1:11:21
  But yeah, you can redeem 50 bucks worth of Bitcoin there if
• 1:11:25
  you're camera. Generational.
• 1:11:28
  Well, wait, hold up guys. 53,000 stats right there.
• 1:11:31
  Bam, let. Me pull this off screen so I can
• 1:11:33
  get first access. To this all right, so a couple
• 1:11:36
  of questions a couple of questions.
• 1:11:38
  So yeah, yeah, yeah. How much So how much does how
• 1:11:41
  much does a service cost? So you let's say you buy a
• 1:11:43
  minor, right, like I totally failed to do, but it's very easy
• 1:11:47
  you go you make an account, you do the you you just press buy
• 1:11:52
  minors. You add the miner that you want,
• 1:11:55
  you Click to redirect to payment and then you choose.
• 1:12:00
  I think the options are lightning, Bitcoin.
• 1:12:02
  You actually get a discount if you pay with lightning or
• 1:12:04
  Bitcoin, Tether, bank wire, ACH card.
• 1:12:09
  So you have plenty of options to, you know, buy a miner with
• 1:12:14
  and then after you buy the miner it shows up on your dashboard.
• 1:12:18
  How long from buying the miner to having the minor alike?
• 1:12:23
  How long purchase a minor and how long until it's operational?
• 1:12:27
  Yeah, right now under 30 days to get operational and there's
• 1:12:32
  possibility as soon as next week.
• 1:12:35
  But yeah, we're we're setting the the expectations out there
• 1:12:38
  so we can over over deliver under promise.
• 1:12:42
  Gotcha. OK.
• 1:12:43
  And then so and this is not, you're not renting a minor,
• 1:12:47
  you're actually buying a minor. Is that correct?
• 1:12:50
  Yeah. You saw the serial number, the
• 1:12:52
  mining rig there on the dashboard.
• 1:12:54
  And we we built our solution around around serial numbers all
• 1:12:59
  the way through. That way people have actual
• 1:13:01
  ownership of their mining rig down to a single unit.
• 1:13:06
  Awesome. OK, so I have, I have, I have
• 1:13:09
  some questions and then are these Sats KYC free?
• 1:13:14
  Well, we call them wild sats. We don't like to attract any
• 1:13:16
  attention, but yeah, they're they're, they're wild, they're
• 1:13:19
  unsurveyed. So what, what?
• 1:13:22
  The only thing we do require is some way to communicate with
• 1:13:25
  you. So we actually tried to just
• 1:13:27
  communicate by e-mail with clients to be very privacy
• 1:13:31
  first, but we found we couldn't get a hold of our customers.
• 1:13:34
  So now. We're required phone number and
• 1:13:37
  then what? Like what information is
• 1:13:40
  required for you to sign up? E-mail address, phone number,
• 1:13:46
  name. That's about it.
• 1:13:48
  Amazing. And then we.
• 1:13:50
  Store no credit card information either.
• 1:13:51
  That's all a a third party payment system.
• 1:13:54
  So yeah, we, we, we are very privacy oriented.
• 1:13:59
  And then the other question is, I mean, I think this is our we,
• 1:14:04
  we went through this, the sign up process.
• 1:14:07
  What is it like? I mean, we went through it.
• 1:14:10
  Should I share my screen again? Yeah, I'll, I'll.
• 1:14:13
  I'll pull it off. Yeah, Yeah, it's, it's, I mean,
• 1:14:16
  typical e-commerce, right? It's what you would expect.
• 1:14:18
  There's a curated list of just a a few mining rigs.
• 1:14:22
  There you go. And then you go to earnings and
• 1:14:25
  then by minors and then boom, like to redirect payment.
• 1:14:31
  Oh no, it opened another window. But yeah, this is the dashboard.
• 1:14:34
  It's easy to it's easy to use, easy to see.
• 1:14:39
  And yeah, that's that's SAZ mining in a nutshell.
• 1:14:42
  I wish my mind wasn't on the Internet failing and Chuck Blake
• 1:14:46
  50 bits when Kent on came on the show.
• 1:14:49
  But it's so easy that it's not hard to make difficult at all
• 1:14:54
  when you're showing it. When we're doing it.
• 1:14:56
  We did a live demo on air and it worked other than having to
• 1:15:00
  switch from my screen to Kent's screen.
• 1:15:02
  But yeah, that's that's SAZ mining.
• 1:15:04
  It makes Bitcoin mining incredibly easy.
• 1:15:07
  Yeah, built, built it so I could get my grandma to start mining.
• 1:15:10
  Right. Like one thing we didn't really
• 1:15:12
  point out because I wanted to keep my own privacy, was that we
• 1:15:16
  do require a Bitcoin address. So on the back end, we need a
• 1:15:21
  way to send out your Bitcoin. So by default we are non
• 1:15:23
  custodial and we never touch your Bitcoin.
• 1:15:25
  It's always yours through and through.
• 1:15:27
  But we do need a place to direct the mining pool to send your
• 1:15:30
  Bitcoin to. And so there's no custody
• 1:15:32
  problem that could possibly happen with us.
• 1:15:35
  We got a question for Mr. White, Mr. White says.
• 1:15:38
  Question for the mining guru At what discount off of retail do
• 1:15:42
  you get mined Bitcoin? I don't know what that means.
• 1:15:45
  I think you're showing it right here, my friend.
• 1:15:47
  So this is this is so I think there's something really
• 1:15:50
  fundamental that took me a long time to see it.
• 1:15:52
  So it's so stupid simple. It's, it's, it's shocking, but
• 1:15:56
  Bitcoin mining is the only way that you can put Fiat into an
• 1:16:00
  investment and get put Bitcoin out like that's it.
• 1:16:03
  There's no other investment on the planet that allows you to do
• 1:16:06
  that in a native way, right. And so as a result, if you are
• 1:16:10
  asking about ROI when you come in as a bitcoiner to your mining
• 1:16:15
  opportunity, you by definition are looking to stock Fiat.
• 1:16:19
  The only way to actually look at this in a viable fashion as a
• 1:16:23
  Bitcoiner is, hey, are the stats on getting cheaper than if I go
• 1:16:26
  to an exchange and buy them? And to date, that's, I don't
• 1:16:29
  think well understood right. When you look at mining, are you
• 1:16:32
  mining to stack stats or stack Fiat?
• 1:16:34
  All of us here are looking to stack Bitcoin.
• 1:16:36
  So we get it for a cheaper price and we build a nice calculator.
• 1:16:40
  It's under the resources tab if you're looking for it, and you
• 1:16:43
  can choose which rigs we're offering down there and the drop
• 1:16:46
  down lower left. But you can see what your cost
• 1:16:49
  is daily cost to to run that particular unit in Norway, $8
• 1:16:54
  generate 15,000 stats or $7.00. With this one, Nico changed it
• 1:16:58
  so your daily cost to mine a Bitcoin is $48,000 and it's that
• 1:17:02
  arbitrage that is why people are constantly seeking mining
• 1:17:06
  opportunities. Gotcha.
• 1:17:08
  No, that makes that makes perfect sense.
• 1:17:10
  And I mean that's the whole point of mining, right?
• 1:17:12
  It wouldn't make sense if you weren't getting cheaper Bitcoin.
• 1:17:16
  What what would be the point of taking that risk, right.
• 1:17:19
  And then what's really interesting too is the like,
• 1:17:24
  when Bitcoin stops performing like a stable coin, this just
• 1:17:29
  gets even better, right? Because that number essentially
• 1:17:33
  stays somewhat similar. Or it it, it, it increases, but
• 1:17:38
  ever so slow. I mean, you know, the hash rate
• 1:17:40
  goes higher the more incentive. But you know, for those six
• 1:17:43
  months at the price pumps, it feels really you feel extremely
• 1:17:47
  smart for making that decision of buying the machine when you
• 1:17:51
  did, right? That's right.
• 1:17:53
  And I, I think what you're what's important there is you're
• 1:17:56
  fixing your cost of electricity. So your input cost as you're
• 1:17:59
  you're you're averaging into your Bitcoin position is fixed
• 1:18:03
  after you've made the investment.
• 1:18:05
  Now you write the bottom half of that little equation, the SAT's
• 1:18:07
  that you're generating, yeah, that's likely going to go down a
• 1:18:10
  little bit because the network is getting more difficult.
• 1:18:13
  And so over time your cost will rise.
• 1:18:16
  But fixing your cost and just having your SAT stream to your
• 1:18:20
  wallet, it's literally the best way way to build a Bitcoin
• 1:18:23
  position because you take all the stress off.
• 1:18:26
  There's a lot of people out there that I've discovered are
• 1:18:28
  freaked out by, you know, hey, I want to go send $5000 to an
• 1:18:32
  exchange out in Nairobi in this place and it's going to transfer
• 1:18:35
  that into Bitcoin. What are you crazy?
• 1:18:37
  I'm not going to go do that. But the idea of like buying a
• 1:18:40
  piece of hardware, providing a Bitcoin address and a credit
• 1:18:43
  card for paying for your electricity.
• 1:18:45
  That's a much easier thing because now it's just a small
• 1:18:47
  amount that's coming out of your, your off your credit card
• 1:18:51
  each month and you get Bitcoin in your so it's a set it and
• 1:18:54
  forget it instead of worrying, Oh my gosh, I just bought
• 1:18:56
  Bitcoin and now it's down 20%. Now I'm going to sell and now
• 1:19:00
  I'm upside down. And now I feel stupid like you
• 1:19:02
  just avoid all that with this. And you set it, you forget it.
• 1:19:07
  And again, the UI is incredibly easy to use.
• 1:19:10
  It's very straightforward. And the plug and play time
• 1:19:13
  between buying the miner and the miner going online is less than
• 1:19:18
  30 days and you're saying that it'd be even less than a week.
• 1:19:22
  So that's incredibly awesome. We're actually.
• 1:19:26
  Working in the background right now that sometime this month we
• 1:19:29
  should be able to actually sell under 24 hours.
• 1:19:31
  That's that's one of our internal initiatives right now.
• 1:19:35
  That's awesome. That's awesome.
• 1:19:36
  Well, guys, go to sasmining.com today.
• 1:19:40
  It's again, super, super easy way to mine Bitcoin if you use
• 1:19:45
  promo code Simply Bitcoin. I just did it live and
• 1:19:48
  embarrassed myself in front of all you guys so you guys could
• 1:19:51
  use the promo code Simply Bitcoin, get a discount SAS
• 1:19:56
  mining.com, get yourself a miner, start mining Bitcoin.
• 1:19:59
  It's a great time when Bitcoin is going sideways or going down.
• 1:20:03
  Believe it or not, because it sounds a little bit
• 1:20:05
  counterintuitive. That's actually the best time to
• 1:20:07
  start mining. Because when Bitcoin starts
• 1:20:09
  going up, it actually gets significantly more expensive to
• 1:20:12
  start mining. And that's like buying the top.
• 1:20:14
  Definitely don't want to do that.
• 1:20:15
  You want to start mining when no one else is mining, right?
• 1:20:20
  I had a friend and the way he described it to me, he's like
• 1:20:23
  Nico, it's like a leverage long. It's totally not like a leverage
• 1:20:26
  long. You're not going to get
• 1:20:27
  liquidated in that sense. But from the number go up
• 1:20:31
  perspective, it's kind of similar.
• 1:20:33
  Is that a wrong way of looking at it Cat?
• 1:20:35
  Oh, I don't know if I'd go there, but I think the, the way
• 1:20:38
  I look at it is, is more this piece of information took me a
• 1:20:41
  while to uncover, which is that the manufacturers price their
• 1:20:45
  hardware based on Bitcoins price action.
• 1:20:49
  So they will increase the price as the, as the price of Bitcoin
• 1:20:53
  rips. And there's, there's more value
• 1:20:55
  that can be extracted from mining.
• 1:20:56
  So yeah, when the price is flat or sideways down, that's
• 1:21:00
  definitely the, the right time to purchase.
• 1:21:02
  You just get more computational power for your buck.
• 1:21:05
  Well, I mean, it makes sense, right?
• 1:21:06
  It's market dynamics, right? Like it's, you know, the market
• 1:21:10
  sniff sniffs out everything and you know, obviously the prices
• 1:21:14
  of machines are going to go up. I remember, I remember in the
• 1:21:17
  20/16/2017 era, like in the beginning of the year, like a S
• 1:21:22
  19, like an S 9 was like 1200 bucks at the end of the year.
• 1:21:26
  You know, and hardware usually depreciates over time.
• 1:21:29
  The end of the year that that S 9 was 2500 bucks even though it
• 1:21:32
  mined you less Bitcoin. But of course it's because the
• 1:21:35
  price of Bitcoin went up. So yeah, the best time to start
• 1:21:38
  mining in my opinion is when the price is going sideways or when
• 1:21:42
  the price is going down. Someone in the question and
• 1:21:45
  someone in the chat says are you looking into using renewable
• 1:21:47
  energy like hydro or geothermal to reduce energy costs?
• 1:21:52
  Oh my gosh, what a layup. I can't believe I forgot that
• 1:21:55
  one. No.
• 1:21:56
  So everything is 100% carbon free power at this point, but
• 1:21:58
  our mandate is to be 20% better than the network.
• 1:22:01
  So in essence, everything that we offer at this moment is
• 1:22:04
  hydropowered, and it's the reason why we have such low
• 1:22:08
  electricity rates. So the average cost of power in
• 1:22:10
  the US is 1617 cents and we're offering power for our and this
• 1:22:15
  is cost pass through again at 5964 and four, six respectively
• 1:22:23
  in the different data centers that we we have right now.
• 1:22:25
  That's incredibly awesome. Very, very cool stuff.
• 1:22:29
  Go check out SAS Mining today, Go to sasmining.com.
• 1:22:34
  Check out Kent and the team and they make it incredibly easy to
• 1:22:39
  mine Bitcoin. So I do before we wrap up
• 1:22:42
  today's show and I go fix the Internet and get back in get
• 1:22:46
  back in the mojo of it because Opti Opti has it very what
• 1:22:51
  happens man you start travelling and then anyways, I do want to
• 1:22:54
  shout out to our sponsor, of course, the largest Bitcoin
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  All right everybody that's it for today's show.
• 1:23:43
  I want to give a shout out to our guest Kent from SaaS mining
• 1:23:46
  and of course my incredible Co host who's always optimistic
• 1:23:49
  optimist fields. We'll see you guys tomorrow.
• 1:23:52
  Today's episode was brought to you by bitcoinwell.com, a
• 1:23:55
  Bitcoin only platform on a mission to enable financial
• 1:23:58
  independence.