Latest / Simply Bitcoin / BREAKING: BIGGEST BITCOIN ANNOUNCEMENT IN OVER 1 YEAR?! | EP 1463

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BREAKING: BIGGEST BITCOIN ANNOUNCEMENT IN OVER 1 YEAR?! | EP 1463 · Simply Bitcoin

0:01
The CFTC and the SEC has officially changed everything.
0:07
For the past six years here on Simply Bitcoin, we have watched
0:10
these two institutions not only attack Bitcoin, but also fight
0:14
each other. However, last week they
0:17
surprised almost everyone by announcing that they'd finally
0:21
work together. And and as skeptical as we all
0:25
were yesterday, they actually came together to make a huge
0:29
breakthrough, probably its biggest one in over a year.
0:33
And of course, right on cue, Bitcoin crashes this morning.
0:38
You just, you love to see it. Well, you know, we got good news
0:41
for once and the Bitcoin price crashes Now, I don't know if
0:44
there's any correlation there, but you got to highlight, it's
0:47
funny. You, you, you got to laugh at
0:49
it. You laugh or you're going to
0:50
cry. Anyways, today I'm going to show
0:52
you the good out of what came out from the FTC and the CFTC
0:56
and some of the bad in the new rule changes that we just saw
1:00
yesterday. So this is a big, big story.
1:04
I would say again, there's some good and there's some bad.
1:10
Let me let me just let me just get into it.
1:12
So actually before I go on, let's get the SEC chair Paul
1:16
Atkins take yesterday he was at the DC Blockchain Summit.
1:20
Here is the clip that was going around.
1:22
Here is his announcement and then I'll break it down for you.
1:26
So today, I'm pleased to announce that the SE CS
1:30
persistent failure to provide clarity on this question is
1:34
over. As we speak, the Commission is
1:37
implementing A token taxonomy and investment contract
1:41
interpretation and you should find that in your inbox or if
1:45
you look on the website when you get home.
1:48
Our interpretation, which is grounded in existing law and
1:52
informed by extensive public input, establishes 4 asset
1:56
categories that are not deemed to be securities.
2:00
So digital commodities, digital collectibles, digital tools, and
2:06
payment stable coins under the Genius Act.
2:10
With these categories in place, the interpretation then
2:13
clarifies that only one crypto asset class remains subject to
2:18
securities laws, namely digital securities, which are
2:22
traditional securities that are tokenized.
2:26
This distinction returns the SEC to its core mission and
2:31
statutory authority of protecting investors involved in
2:35
securities transactions. We're not the Securities and
2:38
Everything Commission anymore, so thank you.
2:48
OK, OK, I, I will break this down.
2:50
Obviously, if you've been around for a while, this is a huge
2:55
break from the Gary Gensler SEC, which is obviously I think
3:00
because of the Trump administration's change of tune
3:05
saying we want to be the Bitcoin capital of the world.
3:07
Well, they really say the crypto capital of the world, but you
3:10
know, whatever. Anyways, let's break this down.
3:13
So here's the official tweet about it and it goes Today, the
3:16
Commission issued an interpretation that clarifies
3:19
the application of federal securities laws to crypto
3:22
assets. This is a major step to provide
3:25
greater clarity regarding the Commission's treatment of crypto
3:28
assets. The release the official, you
3:31
know, paper, the official coverage from the SEC is 68
3:35
pages. So I I'm not going to be able to
3:37
read that whole thing for you guys, but I do have a pretty
3:40
good breakdown from Eleanor Terrett.
3:42
She's been doing really good work.
3:44
This is coming from crypto in America and this is where you
3:48
start to see maybe the bad here. This is probably where a lot of
3:52
the Bitcoin purist Bitcoin Maxis are going to be like, man, this
3:56
is atrocious. But again, I'll, I'll show you
3:59
that there is some good coming out of this.
4:01
So here we go. Of course, while we're still
4:06
have no idea what's going to happen with the Clarity Act
4:09
coming out of Congress or coming out of the federal level, we do
4:14
have some clarity coming from the SEC and the CFTC, which is
4:18
some good news. That is some very good news
4:20
here. No longer does it seem that we
4:23
are going to be this. What?
4:25
How is Gary Gunzer always saying it?
4:27
You know, enforcement by actions.
4:30
Basically you had no idea what was going on and until the SEC
4:34
told you you were doing something wrong and they were
4:36
making the rules up as they were going, we had really no clue.
4:40
So it does seem like we are getting some form of quote
4:43
regulatory clarity at least coming from the SEC and the
4:47
CFTC. And like we covered last week,
4:50
there does seem to be some coordination coming from the SEC
4:55
and the CFTC where for years, as you know, Paul Atkins was just
4:59
saying they were the securities in everything, where everything
5:03
was a security and everything fell under the SE CS purview.
5:07
And the CFTC would have different views and be like,
5:09
wait, no, you know, we are the Commodities and Futures Trading
5:12
Commission and some of this stuff falls under our
5:15
jurisdiction. SEC would say everything's a
5:18
security. CFTC would say, hey, no, there
5:21
are some commodities that you are over regulating as
5:24
securities. Now, it seems like we do have
5:27
some cohesion here coming from the SEC and the CFTC.
5:31
Anyways, in a 68 page interpretation of how existing
5:34
securities laws apply to crypto, the agencies formally laid out a
5:38
quote token taxonomy for classifying digital assets and
5:42
address how on chain activities like staking, mining, air drops
5:45
and wrapping are treated under existing law.
5:48
The move was welcomed warmly by industry participants, who have
5:51
long called for clearer rules of the road after years of
5:53
navigating regulation by enforcement.
5:56
Here's like a, you know, a tweet where it goes, 2023 me couldn't
6:00
have imagined that 21126 me would see such a thing, let
6:04
alone 2026 me, said Paul Greenwald, chief legal officer
6:08
at Coinbase. So Coinbase is looking, you
6:12
know, they're, they're saying this is a good thing, which
6:14
probably should start, you know, picking up your your Spidey
6:18
senses here. Anyways, at the core of the
6:21
framework is the view that most crypto assets are not
6:24
securities. I repeat, most crypto assets are
6:27
not securities and that tokens can be part of an investment
6:30
contract at one point in time, but those investment contracts
6:34
can. And again, a sharp break away
6:37
from the SEC under Gary Gensler quote.
6:40
The interpretation clarifies that only one crypto asset class
6:43
remains subject to the securities laws, which is
6:45
digital security. These namely traditional
6:47
securities that are tokenized. Obviously, we've been hearing
6:51
from the likes of Larry Fink and others that they want to
6:55
tokenize all the things, that all securities will now become
6:58
tokenized and on some form of blockchain or whatever, You
7:01
know, they want to tokenize everything and apparently now
7:04
that will be the main thing under the purview of the SE CS.
7:09
Anyways, this is probably where a lot of bit corners are going
7:14
to get a little angry here. So, you know, hold your
7:16
tomatoes. This is not me endorsing this.
7:19
This is just what they laid out. I will give you some good stuff
7:22
that came out of this, but the token taxonomy itself, which
7:26
divides crypto assets into 5 categories, again, digital
7:30
commodities, digital collectibles, digital tools,
7:32
stablecoins and digital securities isn't new.
7:35
It's something Atkins first laid out last August when he
7:38
introduced the SE CS Project Crypto, an initiative recently
7:42
relaunched in partnership with the CFTC.
7:45
So it's not necessarily new, but the fact that they're having a
7:48
good partnership with the CFTC is news, and it is, I guess,
7:52
basically effective immediately now.
7:57
This time though, the agencies have gone a step further, naming
8:01
16 tokens as digital commodities, shifting them out
8:04
of SEC territory and into the CFTCS.
8:08
And the list includes Bitcoin and 15 other shit coins.
8:11
So personally, from my interpretation of the Howie
8:16
test, most things fall under securities laws.
8:22
Bitcoin is the only one in my opinion as a more purist
8:26
bitcoiner, that really is not a security.
8:31
Everything else from my opinion, obviously, I think the Howie
8:35
test is pretty clear Now going further, that's what I was
8:40
telling you. There's some good and some bad
8:42
that is the bad, at least from a pure Bitcoin perspective.
8:45
From a Bitcoin only perspective, it looks like 15 other shit
8:50
coins are now considered digital commodities.
8:53
So I saw a lot of people on Twitter saying, oh man, now we
8:57
are going to unleash a whole new wave of crime, a whole new wave
9:01
of shit coinery. Just when we thought shit coin
9:05
cycles are going to be over, it looks like the SEC is now saying
9:11
Bitcoin and 15 other shit coins are digital commodities.
9:15
So I guess I would hope that the shit coin cycle, that shit coins
9:20
were officially no longer going to even to be on anyone's list.
9:25
It looks like the SEC kind of skirted past that one.
9:28
So that that's really the bad. OK, that's the main bad part
9:32
about this. There is a lot of good and
9:34
surprisingly enough, the rage highlights the good out of this,
9:39
which is really a stark contrast.
9:42
If you, if you know me, when I cover stuff coming from the
9:46
rage, it's usually not that good.
9:50
But this morning they highlighting some good and it's
9:53
actually a win for privacy here. So here's the rage.
9:57
And it goes again highlighting the quote.
10:00
The SEC has issued an interpretation that clarifies
10:03
the application of federal securities laws to digital
10:05
assets. Using definitions in the Genius
10:08
Act, the document clarifies Bitcoin and other digital assets
10:12
as a commodity. Going forward, only securities
10:15
that have been tokenized, like I said, will fall under the SE CS
10:18
authority. The interpretation ends a long
10:21
dispute over SEC jurisdiction over digital assets, which
10:25
potentially could have led to the classification of digital
10:27
asset developers as securities brokers with grave implications
10:31
for user privacy. The interpretation appears to
10:35
additionally advance clarity on proposals and market structure
10:38
drafts which insufficiently define what digital assets could
10:42
be subject to broker slash dealer registration
10:45
requirements. The interpretation is a major
10:48
win for privacy as brokers slash dealers are required to
10:52
implement KYC and AML programs by law.
10:56
She goes further or Lola lead from the rage goes further and
11:00
she goes. A lot of people seem to not be
11:02
be aware what a major win for privacy the SE CS interpretation
11:06
on securities is. So let me spell this out for
11:09
you. Under Gensler, the SEC attempted
11:12
to classify digital asset developers as securities broker
11:14
slash dealers. This would have meant that
11:16
anyone offering digital asset services and software would have
11:20
needed to register with the SEC and apply KYC and AML programs
11:24
by law. Similar language has been
11:26
included in latest market structure proposals, which
11:29
insufficiently clarified who exactly such registration
11:32
requirements would apply to. The SE CS interpretation now
11:35
makes clear no AML slash KYC for Bitcoin, at least not not under
11:40
the SE CS authority. Probably the biggest advancement
11:44
for privacy under this entire administration.
11:47
And it goes further and someone tweets.
11:50
I can't believe I just read a post from you about an
11:52
advancement for privacy, but I'm enjoying the the sensation.
11:55
And she goes, I know, right? Alas, the day has come.
11:58
So a big win for privacy, at least coming from the SEC.
12:02
We'll see what comes out of the clarity Act, but we're seeing,
12:07
hey, there is some good and some bad here.
12:09
From a pure Bitcoin perspective, you're probably not so happy
12:13
that some shit coins are now considered digital commodities.
12:17
But from a developer perspective, from a we don't
12:20
have the AM LKYC everything now as developers, as wallet
12:26
creators, it's a huge win. It's a huge win and going
12:30
further TFTC quoted and you know highlighted that the SEC and the
12:36
CFTC officially clarified Bitcoin proof of work mining
12:39
rewards aren't securities and labeled as protocol mining,
12:43
which you heard in that clip. So we we are seeing some good
12:47
here. There is some good here.
12:48
Now going a little further from the CFTC, we did get another win
12:53
for self custodial or quote self custodial wallets here and again
12:57
in terms of privacy AM LKYC here's TFTC highlighting this
13:02
and it goes to CFTC just told self custodial wallet developers
13:06
that they don't need to register as brokers.
13:08
Again, SEC and the CFTC both confirm that if you are creating
13:13
Bitcoin wallets, you no longer have to register as a broker.
13:19
You don't need to implement KYC AM L laws just for a Bitcoin
13:23
wallet. Though we are hearing a lot of
13:25
speculations and a lot of conversations that that is kind
13:29
of the trend that we are going towards.
13:31
So a big win here for for privacy and this is talking
13:36
about a phantom wallet received a no action letter saying the
13:40
CFTC will not pursue enforcement against self custodial wallet
13:43
developers who connect users to regulated trading venues as long
13:46
as they don't custody user funds first time.
13:49
The agency has formally drawn that line and here's why it's
13:52
massive. Under existing U.S. law, any
13:55
entity that solicits or facilitates derivatives trading
13:59
typically must register as an introducing broker with the
14:02
CFTC. That was written for traditional
14:05
finance intermediaries. But as self custodial Wallet
14:07
started integrating access to derivative markets, developers
14:11
faced a legal Gray area that could have classified them as
14:14
unregistered brokers simply for writing software.
14:17
The CFT CS position was if your wallet software connects users
14:20
do properly registered futures Commission merchants introducing
14:24
brokers or designated contract markets and you don't custody
14:28
user funds, you are not a broker, you are a software
14:31
provider. So we're starting to see, hey,
14:33
maybe the open source kind of crypto wars 2 point O that we
14:39
are seeing is seeing some form of clarity at least coming from
14:42
the SEC and the CFTC. We'll still see what comes out
14:45
of the Clarity Act, whether we'll we'll see some provisions
14:48
similar to this, but I think this is a good move forward.
14:53
The timing, of course, is not coincidental.
14:56
One week ago, CFTC Chairman Mike Selig said at FI as Boca Raton
15:00
conference quote, for too long there's been an open question as
15:03
to whether software providers trigger the CFT CS registration
15:06
requirements. We intend to address this
15:08
question head on, as they just did.
15:11
You know, seven days later it's moving, excuse me, moving pretty
15:15
quickly here, but of course this matters far beyond this phantom
15:19
wallet. Now every self custodial wallet
15:21
developer and every open source protocol interface that connects
15:24
users to regulated markets now has a reference point.
15:28
Write software, don't custody the funds, route through
15:31
registered intermediaries and the CFTC will not come after
15:34
you. For context, of course, we do
15:37
have some case law that just happened that really show and
15:41
highlight how big of a move this is.
15:43
The previous administration use ambiguous intermediary rules as
15:47
a weapon against developers. Tornado Cash developers were
15:50
prosecuted, front end shut down preemptively.
15:53
The chilling effect pushed builders offshore, as we all saw
15:56
with Wallet of Satoshi last year.
15:58
Now they're coming back on shore.
16:00
At least, you know, opening up their wallet to the US.
16:03
This no action letter combined with Seligs ending the days of
16:06
CFTC and SEC infighting through Project Crypto signals a
16:10
complete reversal. The US is actively trying to
16:12
bring developers back. So at this point I think we got
16:17
to kind of take the good with the bad here.
16:19
Yes, 15 shit coins are now considered digital commodities.
16:24
Yes. From a pure Bitcoin perspective,
16:27
you would have liked to see Bitcoin be the only digital
16:30
commodity, though. That even opens up a whole new
16:33
can of worms there because a lot of Bitcoiners would say, hey, we
16:36
don't need the state. You know, we don't need the
16:39
monopoly on violence protecting Bitcoin here.
16:42
Bitcoin will win on its own merits.
16:45
And so that's usually the conversation that most people
16:47
have. It's like, OK, look, on the one
16:50
hand, I think the Howie test is pretty clear.
16:53
Bitcoin is the digital commodity.
16:54
Everything else is a digital security.
16:57
Now we're seeing, hey, OK, look you're going to you're going to
17:01
unload some of these shit coins or let some of these shit coins
17:03
through the door. But at least now from a
17:06
developer perspective, from just riding software, if you do not
17:11
custody the funds, you do not need to implement crazy KYC AM L
17:16
laws into your wallets. So we're seeing some some good
17:19
precedent being set here. This is a a huge change from the
17:24
Gensler SEC to the Paul Atkins SEC.
17:29
And now we see the SEC and the CFTC are working, you know, hand
17:34
in hand to make sure that they're not stepping over each
17:37
other's toes. As I've been saying for a long
17:39
time, you know, depending on the agency, they would classify
17:42
Bitcoin differently. Now we're seeing with this push
17:46
from the Trump administration about being the, quote, crypto
17:49
capital of the world that the agencies are finally following
17:53
suit. Yes, it's took in a little
17:55
while. Yes, we could argue that maybe
17:58
things are moving a little slowly and maybe not fully in
18:01
the right direction. But hey, we're going to take the
18:05
small wins here. We're going to take the wins
18:07
here that we can now hopefully we do see further that there is,
18:12
I don't know, hope something that comes out for the benefit
18:15
of the samurai wallet devs. Obviously they're in jail right
18:18
now for pretty much like, you know, enforcement by action here
18:23
or and yeah, yeah, that's what they called it, right.
18:27
And so look, it's still not perfect, but the world isn't
18:32
perfect. But I would say this is a huge
18:35
win. And it is interesting that this
18:38
whole push for the Clarity Act, we, we there is no clarity
18:42
coming out of the Clarity Act yet.
18:44
It keeps getting pushed down the line.
18:46
There's keep calm. There's a lot of people
18:48
speculating and a lot of people coming from DC saying, oh, it's
18:51
going to happen end of April. If it doesn't happen end of
18:54
April, it might not never ever happen.
18:57
Though yesterday we did also see that Senator Lummus at the DC
19:03
Blockchain Summit, she's doubling down on this.
19:06
She did say something's on the Clarity Act.
19:09
There is a bit of a conversation about what is going to happen
19:12
with the Clarity Act. So here's again, Eleanor Tarek
19:15
covering this, she goes Senator, Senator Cynthia Lomez on the
19:20
state of the Clarity Act quote said we are going to have this
19:23
thing done come hell or high water by the end of this year.
19:26
She also expects a banking GOP markup during the second-half of
19:30
April after the Easter break. And on yield, we think we've got
19:34
it. And on Defy negotiations, we
19:37
think we've got the Defy issue put to bed.
19:39
And and there was another segment here from Eleanor
19:43
Tarrett kind of covering the push on the Clarity Act.
19:49
And there seems to be a conversation right now saying
19:53
that the banks are finally coming to the table on the
19:57
stablecoin yield question. It seems like they are going to
20:00
compromise on it, at least that's what the rumor mill are
20:03
saying. They're finally coming to the
20:05
table. They're finally bending the knee
20:07
on this. So look.
20:10
I'm still kind of on the idea that if this doesn't get passed
20:14
soon, I know the first conversation was March, then it
20:18
became, oh, now it might be end of April.
20:21
Senator Lummis is obviously bullish, saying I think if this
20:25
happens, it won't happen by April, but if by the time we
20:28
come back after Easter, it'll happen.
20:32
The one caveat there, I know I'm a, I'm a fan of Senator Lummis,
20:37
but the one caveat there is that much, not much will get done
20:41
after about June coming from the federal government.
20:45
So there is a a ticking time bomb here.
20:49
There is the clock running out. We might get this through before
20:53
the buzzer. It might not happen at all.
20:57
Considering the midterms are going to come up.
20:58
Considering that a lot of things that aren't really politically
21:02
viable coming from the Republicans will most likely get
21:06
pushed through or even talked about as the midterm start to
21:09
heat up. Because obviously everyone wants
21:11
to kind of campaign to maintain their positions or get more
21:15
Republicans in the House, which isn't looking that good.
21:19
So I like Senator Lummis's bullishness on the Clarity Act.
21:22
Obviously, she's going to be fighting for this tooth and nail
21:25
to the very end of the year. She is not going to run again
21:29
for her seat for 2027. So hopefully Senator Lummis can
21:34
get this through as kind of her last, I don't know, huge win
21:39
before she does something else because she's no longer going to
21:44
be a senator. But that's kind of where we are
21:47
with the Clarity Act. So we got some clarity from the
21:50
SEC and the CFTC. They are implementing this
21:53
cohesion here. They're implementing the fact
21:55
that they are working together now.
21:57
The Clarity Act is still not clear.
22:01
It's not clear at all there. It's, it's more muddy.
22:03
It should be called the Muddy Waters Act at this point because
22:06
it just seems it's just going to get kicked down the road.
22:08
It it's not really hasn't seemed to really move forward much,
22:13
though. As I've been saying, the
22:15
conversations behind the scenes are that a compromise is being
22:20
reached. Well, we see that they banks
22:24
finally, you know, bend the knee for the stablecoin act.
22:28
That's still up for debate, but it does seem like they are
22:34
willing to compromise and that's the rumors we've been hearing
22:37
for the last couple of weeks. We've heard Brian Armstrong say
22:40
we're going to compromise. We're willing to compromise.
22:42
We'll come back to the table for a while there.
22:45
For last couple of weeks, the banks were saying we're not
22:48
going to compromise on stablecoin yield.
22:51
Now they're kind of rolling it back.
22:53
And I think, again, that's all because President Trump said,
22:57
hey, banks, stop fighting the Clarity Act.
23:01
We want to get this through. So if there is more pressure
23:04
coming from the Trump administration towards the
23:06
banks, then maybe something will come out of the Clarity Act as a
23:12
good compromise usually goes, you know, both negotiators are
23:17
most likely not going to be happy and that's why it's a good
23:19
compromise. So if the banks bend the knee or
23:23
are willing to compromise on the stablecoin yield, then we'll see
23:28
what the quote crypto industry is willing to compromise on.
23:31
But as you can see, This is why the Coinbase, what was he
23:38
Coinbase CIOI believe it was was or sorry, chief legal officer
23:43
was so I believe happy about this because 15 shit coins are
23:49
now digital commodities. There's been a huge debate
23:51
amongst bitcoiners for years, like I've been saying about what
23:55
is a digital commodity, What is a digital security?
23:58
As of now, it seems like only all the tokenized stocks that
24:02
they've been talking about will be under the SE CS purview.
24:07
So hey, we'll take the win for privacy.
24:11
It's not the total win that we want from a purely Bitcoin
24:16
perspective, but a win's a win, OK.
24:20
And I, and I know you guys are going to be like, I'm getting
24:25
drilled. Yeah, yeah, sorry guys.
24:27
I, my voice is cooked. I, I am irritating.
24:32
It is, it is what it is. Call it the vague act, 100%
24:35
totally the vague act. But hey, guys, at this point is,
24:42
is something better than nothing?
24:43
I don't know. I, I'm kind of on the, the view
24:48
that nothing is better than something.
24:50
But if we get some good rules coming here, it it really my, my
24:54
point of view is just get out of bitcoins way.
24:57
Though Senator Lummis did talk about the de minimis tax again
25:02
at the DC Blockchain Summit. So that conversation is still
25:06
going on. Obviously there was the whole
25:09
speculation about Coinbase fighting de minimis tax.
25:14
We'll see what happens. It's, it's not looking the best.
25:18
To be honest, I'm, I'm really not bullish on the Clarity Act
25:21
at this point. And even looking at what the
25:23
Clarity Act is going to even have, there's been again, not
25:28
much clarity about what is in the act and what isn't because
25:31
we haven't had the markup structure bills yet.
25:35
We saw a little bit come out, we saw one side come out, but we
25:38
won't know what's really into in the Clarity Act until both sides
25:42
come to the table and offer their markup bill.
25:47
It is what it is at this point. I, I guess we'll just take the
25:50
win for up from the privacy perspective here.
25:54
So you love to see it, You love to see the change coming from
25:57
the SEC and the CFTC. It is a stark contrast from Gary
26:02
Gensler. And remember when Gensler went
26:04
in, we were all pretty bullish about what Gary Gensler would do
26:07
because he did teach a blockchain course at MIT.
26:11
We thought, hey, he's a bitcoiner.
26:13
He's totally going to do some good stuff for Bitcoin.
26:18
You could argue unleashing the ETFs was a good move under Gary
26:23
Gensler, though it seemed to be that he fought that forever.
26:27
And now I think we are seeing what I said for a while as a
26:31
troll that Gary Gensler might have been a maxi and pushed back
26:36
the Bitcoin ETF because he wasn't sure how to push back the
26:39
shit COIN ETFs. And now we're seeing under Paul
26:42
Atkins that, hey, yes, this will be favorable for Bitcoin, but
26:49
shit coins are totally getting getting, you know, getting
26:53
through the door as well. Huge.
26:59
But also, I guess maybe I'm too much of A purist.
27:06
I'm too much of A Bitcoin only maxi that I have to point out
27:10
the good and the bad here, But we'll we'll, we'll see what's
27:16
going on. Maybe Lex Luthor was right.
27:20
Yeah, dude, maybe. You know, I'm not the biggest
27:22
fan of Brian Armstrong, but maybe he was right.
27:26
A bad bill is worse than no bill at this point.
27:32
And hey, we're we're we're we're we're moving forward.
27:38
Is it perfect? No, but it's moving forward
27:41
anyways, guys, I will keep the show moving.
27:44
We in the numbers. I I got a clip.
27:47
It was on Bloomberg and we're starting to see that they are
27:51
sounding a lot like simply Bitcoin here.
27:54
Remember, I've been highlighting the fact that Bitcoin has been
27:57
super resilient right now in the face of this war in the Middle
28:00
East. We're in what day eight day 19
28:02
here, you know, three weeks in Bitcoin.
28:05
It did have a correction today, but hey, it's been acting very
28:09
resilient. Are we seeing a, you know,
28:12
passing of the baton from gold to Bitcoin currently?
28:16
Bitcoin is outperforming gold currently and as well, we got
28:19
some new numbers coming from the traditional financial system,
28:24
some crazy numbers coming up. So I'll cover that in the news
28:27
and then our boys over at the Bugle, it is March Maxi madness.
28:33
So we're going to have a little fun at the end of the show.
28:34
OK, I, I'm going to have a call of action for you guys.
28:37
I'm I'm going to have a special request for you guys here at to
28:41
wrap up the show. But on that note, first
28:42
commercial break and I'll be right back.
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se-ed.com store. All right guys, the current
30:57
Bitcoin price is 71,310, which is a 43 1/2% discount from all
31:04
time high. We have at least for now,
31:09
secured the $1.4 trillion market cap currently at 1.43 trillion
31:14
and the block height is 941,185. Actually let me let me double
31:19
check that 'cause it has been acting up a little bit 941185
31:27
Yep, can confirm confirming on manpool dot space that is the
31:31
current block height. OK, guys.
31:33
So Bloomberg, we got Bloomberg out here sounding a lot like
31:38
Bitcoiners. I think their tone is a lot more
31:43
disbelief than ours would be. But again, the normies love
31:50
Bloomberg, you know, the normies love the news here.
31:53
And they are saying what I've been saying here on the show
31:57
that yeah, you know, hey, Bitcoin isn't going parabolic
32:01
yet. We are in a bear market.
32:03
But in the last three weeks, and I know it's zoom out, whatever,
32:06
like if you go back a year, gold outperform Bitcoin.
32:09
Sure, I'll, I'll give you that. But in the last three weeks,
32:13
when you'd expect Bitcoin to go down, Bitcoins been going up and
32:17
guess what's going down? Gold and equities.
32:21
It does feel like things might be changing.
32:25
And that's exactly what Bloomberg is saying now.
32:28
It's obviously too early to really be able to confirm that
32:31
this is exactly, exactly the case, but they're saying it, you
32:36
know, it's it really is a self fulfilling prophecy here.
32:39
So let's watch this clip real quick and then I will chat about
32:42
it. First, though, let's take a look
32:45
at where things stand for the last six days for Bitcoin.
32:49
It's been resilient despite this geopolitical shock that has
32:53
really set energy prices spiking and gold falling for the much of
32:56
the last month. It's actually held in this range
32:58
from just around $65,000 up to $73,000.
33:03
But look at this, late last night, it broke through to hit
33:06
close to $76,000 per Bitcoin. That's up around 13% so far this
33:11
month. I guess the question a lot of
33:12
people have might have right now is, is this acting like a safe
33:16
haven? Let's also flip the chart and
33:19
look at how flows to crypto ETFs have been doing.
33:22
They're actually surging. If you look over the past couple
33:25
of weeks, net flows for the 12 US listed spot Bitcoin ETFs
33:29
topped $763 million last week. It suggests that there's maybe
33:33
Scarlett, this return of some institutional confidence.
33:36
All right, well, take a look at crypto currencies from Bitcoin
33:39
to smaller digital coins are definitely standing out this
33:42
month as winners compared with volatility and more traditional
33:45
assets since the start of president wars war, President
33:48
Trump's war in Iran, Bitcoin is up about 13%.
33:52
Crude oil, we know has surged more than 40%, while global
33:55
stocks as measured by the MSCI world Index, down 4%.
33:58
Even gold, which is supposed to be the ultimate haven has
34:01
slumped about 5%. Analysts say that traders are
34:04
unwinding their bearish options bets that Bitcoin would fall
34:07
below the 55,000 to $60,000 level.
34:10
And as these negative positions are closed out, market makers
34:14
are then forced to buy Bitcoin to rebalance their exposure.
34:17
That has led to those inflows creating momentum to lift
34:20
bitcoin's price. The caveat, Tim, is there's an
34:23
absence of significant call buying, so traders are not at
34:27
the moment aggressively taking on bullish positions.
34:32
Sounds kind of like what I've been saying here on the show the
34:35
last couple of weeks. Look, obviously these numbers
34:38
are a little different this morning because Bitcoin did
34:41
crash down to 7171 K this morning.
34:46
We had a huge crash. I didn't check and see if it was
34:50
at the 10 AM 10 AM time it Yep Yep, we we got a 10 AM crash
34:56
guys. We got a 10 AM crash this
34:58
morning but wait, I need like an alert.
35:00
I need to play an alert here. But again, it is cherry picking.
35:06
I will grant you that that is cherry picking, but that is kind
35:09
of the conversation that I've been having.
35:11
And and Bloomberg, I'll give them credit, they are asking the
35:14
right question in my opinion, is Bitcoin right now in the last
35:18
few weeks since the war in the Middle East acting like a safe
35:23
haven asset. Gold, of course, historically is
35:27
that safe haven asset. And maybe it's because gold went
35:30
up so high last year that right now in the face of what we're
35:34
seeing in the Middle East and with oil that people are maybe
35:38
rebalancing their portfolios, maybe they're getting scared.
35:41
Now, I'm not saying that they are repositioning into Bitcoin
35:46
that Bitcoin I was fully expecting to crash whence we
35:50
came back on that Monday after the war or after that initial
35:55
attack over the weekend, and I was totally expecting it to
35:58
crash. Yes, it's been a slow grind yes,
36:01
it went up to 70 almost 76 K. It's pulled back a little bit.
36:06
I saw someone in the chat said like you're you're saying that
36:08
the Bitcoin price is acting resilient.
36:10
I'm like, yeah, it, this is totally, in my opinion, a strong
36:14
move right now for Bitcoin considering what is going on and
36:18
everything else. Equities are pulling back.
36:22
Gold's kind of pulling back. Obviously crude oil's going
36:25
insane right now and and probably going to go even
36:28
higher. I just saw a number coming out
36:30
of what's that Walter, Walter Bloomberg, I think his Twitter
36:34
account is that gold or sorry, Gas prices are now at the
36:38
highest level since 2022. I was actually looking at gas
36:43
this morning and I was like, man, I could have swore.
36:45
I just bought 298 per gallon about two weeks ago and now it's
36:50
I saw it and it was $4.00. I'm like, whoa, I have not been
36:54
paying attention to the gas prices really in, in, in
36:57
practice here I've been, I've been watching crude oil prices
37:00
go to $100. But I would say it's acting
37:05
resilient. Now, obviously I am completely
37:08
biased. I am a bull tard.
37:11
I I'm, I'm always going to be bullish on Bitcoin.
37:15
Actually, did I did I pull up the here?
37:18
Let me let me pull up the tweet here.
37:20
It's actually a meme. I know you guys like the memes.
37:24
I finally found the TA meme I've been mentioning on the show and
37:30
here it is. This is my interpretation of
37:35
what is going on in everything. And this is TA in a nutshell.
37:40
And this is the bullish Bitcoin view and the bearish Bitcoiner
37:45
view as well. And you can see it's two guys
37:49
watching the same exact documentary, but it is framed
37:53
differently. You know, on the Discovery
37:55
Channel 1 is line documentary, one is antelope documentary.
37:58
And depending on your bias, if you're watching the Lion
38:02
documentary and you're on Team Lion, you're probably excited.
38:06
If you're watching the quote UN quote antelope documentary and
38:10
you are on Team Antelope, you're probably not so happy when the
38:15
lion takes down the antelope. Now, this is, you know, a good
38:19
little mental picture of what I think's going on because look,
38:22
you guys seen me and Nico kind of argue on the show.
38:25
I've been extremely bullish. He's been a lot more bearish.
38:30
But again, when I look at the macro picture right now, and I
38:33
will cover a little more macro stuff in the next segment, when
38:36
I look at the macro picture right now, I think Bitcoin is
38:40
doing extremely well. It might not be pumping.
38:43
We might still be in a bear market, but the fact that we
38:47
aren't dropping like a freaking hot potato right now, I think
38:52
that's me. That's it's resilient.
38:55
I think it is proving in this very moment the idea that
38:59
Bitcoin is a safe haven asset. And I brought up the idea me and
39:03
Sophie been talking about this like for the last two weeks,
39:05
Like, wait, was World War Three good for Bitcoin?
39:08
Because it's kind of doing what we all believed it would do
39:12
eventually. And obviously it's still early
39:16
in that process. I don't think we are seeing
39:20
necessarily the institutional investor looking at Bitcoin and
39:24
being like, yeah, I need to totally own that.
39:26
But we are seeing that individuals are doing that.
39:29
We are seeing the price kind of be a little bubbly here.
39:33
I am a Wick off maxi and I think it's still kind of working the
39:38
Wick off accumulation pattern currently, but it's kind of
39:42
taking a little longer than I thought it would.
39:44
And I think this pull back is literally perfectly Wick off
39:48
accumulation. So I'm I'm holding to Wick off
39:51
accumulation maxi here. And if I'm true, if I wait, if
39:55
I'm right and it's true, then we might be seeing some frothy
40:01
price action here. But you know.
40:04
I did also see the SEC say if you are getting trading signals
40:10
from a telegram group or something like that, you
40:13
probably shouldn't be doing that.
40:14
So I will extend that a little further.
40:17
If you are taking trading signals from me on YouTube, you
40:21
probably shouldn't be doing that.
40:22
This is not financial advice. This is just my reaction, my
40:26
analysis, my view of what's going on right now.
40:29
But I'm starting to, I'm starting to feel a little
40:32
bullish. And we're seeing Bloomberg
40:34
basically say the same thing I've been saying.
40:36
Now, I know we always joke of the mainstream media watching
40:41
simply Bitcoin. I doubt they're doing that per
40:43
SE, but they are looking at the same data.
40:48
And I think we all expected Bitcoin to crash and it hasn't
40:51
yet. Big caveat yet, of course.
40:55
But hey, only time will tell. Only time will tell.
40:59
All right, guys, I do want to cover and I and I saw my boy
41:03
down under Blues in the chat say are we going to be talking about
41:08
traditional? What what do you say like
41:11
traditional news noise or are we going to be talking about some
41:15
Bitcoin signal? Well, it's going to be a little
41:17
bit of both. We we do have some news coming
41:20
out of the Tradfi system, but I will of course put the Bitcoin
41:25
lens on that. So I'll be right back.
41:28
I want to give a shout out to our partner Hive Digital
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Digital Tech dot. Com OK guys so oh this is
42:15
whatever. It doesn't matter anyways.
42:19
Guess what guys? Big breaking, huge breaking. the
42:24
US debt clock is now over $39 trillion.
42:29
I repeat, we have officially crossed the $39 trillion mark on
42:35
the US national debt. Now, I know a lot of people
42:39
watch this show and they complain and yell at us like you
42:42
guys are so US centric. Sorry, not sorry.
42:46
You know, we, we live in America. the US is still the
42:49
world reserve currency. I always think of what happens
42:53
in the US has basically downstream effects to every
42:55
other country. Further, what happens to the US
42:59
dollar has downstream effects to all of the weaker currencies out
43:02
there. But we have officially crossed
43:04
$39 trillion in U.S. National debt with let's see, I
43:11
I forget where the UN spent. There we go.
43:13
US total debt, unfunded debt, $107 trillion.
43:20
It is absolutely unsustainable. As the meme goes, nothing stops
43:25
this train. The big print is coming and it
43:29
is currently happening in real time.
43:30
Now remember, I did cover the initial numbers coming out of
43:36
the Iran war of how much money they are spending on this war.
43:40
And it was wholly underestimated from what I saw.
43:45
I think we were saying about like 1 billion.
43:48
It was basically like 5 times. They've spent five times the
43:52
amount that was projected. And I'm not saying that that is
43:56
what got us necessarily over the $39 trillion debt mark, but it's
44:02
obviously one of the things that is really accelerating it.
44:06
And I think this is just the beginning if you're hearing what
44:09
Donald Trump himself has been saying.
44:13
I know my friends were telling me, and I know the official
44:15
narrative is saying this was not a forever war.
44:18
But it's starting to sound like this is a forever war, and we're
44:21
going to be in the Middle East for a long time now.
44:25
We get conflicting statements coming out of Trump and Pete
44:30
Hegseth and everyone else in the Trump administration.
44:33
It seems like they're conflicting each other
44:34
constantly being like, you know, one, what's the other?
44:37
What's the thing? It's an operation.
44:39
It's a war. It's just a mission where
44:45
finally, I think the markets are starting to price in the fact
44:48
that we are going to be there for a long time.
44:51
And what those implications are going to have on not just the
44:55
amount of debt or the amount of money that will be printed to
44:57
continue this operation or mission or whatever they're
45:01
calling it today, but further, what's going on with the Strait
45:06
of Hormuz and what's going to happen with energy?
45:09
What's happening with oil? I just saw something this
45:12
morning. I didn't fully dive into it
45:14
because I was waiting to go live.
45:16
It was like the last thing I saw on Twitter.
45:18
But it looks like we might be having even more disrupt,
45:21
disruptions with oil that just happened basically right before
45:26
I went live. So energy, gas prices, oil
45:29
prices, they might be going absolutely insane in the next
45:34
couple of weeks, especially as everyone's pricing in this war
45:36
in the Middle East. But if you think about where we
45:41
were at 38 trillion, if I remember correctly, I think we
45:44
crossed the $38 trillion mark in October.
45:48
So it's what we're adding a trillion every four, what, 6
45:55
months? We might be over the $40
45:59
trillion mark at some point this year if they continue to
46:03
accelerate this. But the math is even crazier
46:06
that the debt, the national debt under Trump in the last 14
46:11
months has basically gone up roughly 7%.
46:15
And that doesn't really even fully account for what's going
46:18
to how much money we're going to spend in the Middle East.
46:21
So 40 trillion, 50 trillion. What's, you know, what's, what's
46:27
50 trillion amongst friends, guys.
46:29
You know, we're just going to be adding $10 trillion here to the
46:33
national debt, man. Just let's just get it over
46:37
with. Just get the big print going,
46:38
right? I mean, look, just you're going
46:42
to do it anyways. I know I've said this in the
46:45
past and everyone in the, well, rather it was more Nikko than
46:48
anyone in the chat was like, wow, Nikko or Opti just doesn't
46:51
care about the middle class. And I'm like, look, I'm just
46:54
relaying what they're saying, that if you aren't holding
46:57
assets, if you're not holding Bitcoin, it's going to be very
47:00
hard to save in dollars, especially when the national
47:04
debt is increasing at an exponential rate.
47:07
Again, nothing stops his train. And just to add on top of that,
47:11
well, we did get the inflation numbers this morning, and they
47:15
were higher than expected. Oh, my goodness.
47:18
Who would have guessed? I thought inflation was going
47:20
down, and then a war happens in the Middle East and, you know,
47:26
the energy prices are further pushing up price.
47:29
Yeah, the prices of things. Who would have thought?
47:33
I mean, it's only second order effect here.
47:35
It's like anyone that can think a little critically would have
47:39
expected this thing to happen. And of course, we do have the
47:43
FOMC meeting today. We know what they want to do, at
47:48
least what the Trump administration wants.
47:49
They want to cut interest rates. Well, the Fed is is it's in a
47:53
corner right now. It's probably going to pause
47:56
rates today. They're probably not going to
47:57
change anything. But anyways, let me back up.
48:00
Breaking US February PPI inflation rises to 3.4% above
48:05
expectations of 2.9%. Now of course you guys know my
48:08
view here. I I think these inflation
48:10
numbers are cooked. They're not cooked like in the
48:14
Gen. Z way, but like they cook the
48:16
books here. They pick and choose to
48:18
basically pick the best numbers. So it's probably worse than
48:21
this. But core PPI inflation rises to
48:23
3.9% above expectations of 3.7%. And core PPI inflation is as its
48:29
highest level since February 2023.
48:32
And this data does not even include the Iran war rate cuts
48:38
are being priced out. That's I'm guessing we're
48:42
probably not going to see any more rate cuts for most likely
48:47
the rest of the year. I was seeing odds essentially
48:49
saying that we might get a rate cut December of this year.
48:54
So pausing the the interest rate cuts, oil prices are going up.
49:03
It's not looking so good here. It's almost like they had no
49:08
idea what they were doing here. And it's making things worse.
49:12
You know, the Golden age did seem to have some pretty good
49:16
narrative, some pretty good memes for a little while.
49:18
The economy is turning around. I've been saying for a while
49:22
that when you ignore the official narratives and you base
49:30
it on your experience, your day-to-day experience, you'd
49:34
realize, yeah, things are costing a lot more money.
49:38
Things are inflation is going up.
49:41
Well, of course the national debt's going up.
49:42
They are expanding the money supply.
49:44
But for most people, most normally people when they see
49:47
prices go up, they they consider that inflation.
49:51
Obviously, from our perspective, inflation is truly the expansion
49:55
of the money supply, which causes things to go up because
49:58
there's more dollars chasing finite limited products.
50:02
But anyways, our boy Fernando, Bitcoin perception, he's been on
50:07
the show before. He did this really good tweet
50:09
last week. And I think now that we kind of
50:14
have a little more data points here, we are starting to see the
50:20
bigger picture of what's going on.
50:22
I think this analysis a week ago was like pretty spot on.
50:25
And now that we know these numbers, we know where we are.
50:29
You can see, hey, it's a good read here.
50:32
So Fernando goes, I'm going to put my macro enjoyer hat on for
50:36
a minute here. the Fed meets today.
50:39
He said this five days ago with oil above $100.
50:42
We're currently a little under $100.
50:46
And the US is running low on missile interceptors.
50:49
This is a macro setup that doesn't exist in anyone's model.
50:53
Rate cuts are impossible with oil driven inflation as we
50:57
currently see happening, and rate hikes are impossible with
51:00
war driven debt expansion as we see is currently happening. the
51:06
Fed is truly stuck. The last time the Fed was this
51:09
trapped was the 1970s oil crisis where gold went from $35 to
51:12
$850. Bitcoin AT70K during the most
51:16
constrained monetary policy environment in 50 years is
51:19
either the most underpriced asset on earth or I'm just
51:23
absolutely wrong about any everything.
51:25
There's really no middle ground here.
51:27
And of course, like I said, Fed's meeting today, in about 30
51:31
minutes, we'll get the news of whether they're they're most
51:36
likely going to pause rates. That's kind of the general
51:39
consensus here. Obviously, consensus around what
51:43
the Fed's going to do doesn't necessarily mean much.
51:46
But here on Barron's Fed meeting today, a rate pause is all but
51:49
certain because oil prices cloud the outlook.
51:53
So again, you know, this was a this was a good little good
51:57
little take here. Rate cuts are impossible with
51:59
oil driven inflation and rate hikes are impossible with war
52:02
driven debt expansion. We have both of those things
52:05
playing out. It looks like the feds just
52:08
going to be cooked, probably going to just keep pausing
52:11
rates, which just further, at least in my mind, exemplifies
52:18
why you need to own Bitcoin. You want to own a neutral
52:24
scarce, a hard capped money that isn't controlled by people.
52:29
That really is the neutral reserve asset of the world.
52:33
I truly believe that Bitcoin is already the world reserve asset.
52:37
It just isn't being, you know, touted that by the institutions,
52:41
but it is our world reserve asset.
52:44
It is the money of the world here currently that no one
52:47
controls. This is why you need to own it.
52:50
I think we're going to be seeing even crazier monetary policy
52:55
moves. We're going to be seeing
52:56
inflation, national debts expand to levels that were entirely
53:01
unheard of. They're not going to be able to
53:04
lower interest rates. They're all.
53:07
We'll probably get even bigger numbers coming out depending on
53:10
how long this operation Mission War, Forever War, however you
53:16
want to paint this, however the official narrative is right now,
53:19
whatever they're calling it today continues to go on in the
53:22
Middle East. We're going to see energy prices
53:27
go insane now. You know, there is a little bit
53:33
of, or rather a non zero chance of, hey, maybe, maybe there was
53:37
a plan throughout this whole thing and maybe they can figure
53:40
this out. But it doesn't look like that's
53:42
the case. It looks like we are just
53:45
disrupting basically 25% of world oil coming out of the
53:50
Middle East. It looks like oil's not really
53:53
going through the Strait of Hormuz, at least to the US,
53:56
though we are seeing rumors of oil being able to escape the
54:02
Strait of Hormuz if it is being priced in the yuan.
54:06
It does seem like the Petro dollar system is currently in a
54:11
very uncertain time to say the least, but you need to protect
54:17
yourself obviously. You guys watching your
54:19
bitcoiners, but we we got to do what we can to try to get more
54:24
people holding this thing right now because whether Bitcoin
54:28
breaks up to the upside or inflation just starts breaking
54:31
up to the upside and we see you know everything get more
54:35
expensive because energy starts getting more expensive and oil
54:38
starts getting more expensive. People need the the people need
54:42
the exit route. People need the exit boat.
54:44
People need the safety boat right now.
54:46
This is why I keep thinking kind of throwback to the second
54:52
segment, the numbers of from Bloomberg, where it does feel
54:55
like Bitcoin is being super resilient.
55:00
It is showing, I think in my opinion, and I could be wrong,
55:03
obviously, either I'm right and like Fernando was saying, either
55:07
I'm right and Bitcoin's the most underpriced asset or underpriced
55:10
money in the world, or I'm just completely wrong about
55:12
everything. But I think what we're currently
55:15
seeing, the fact that Bitcoin is holding up very well in the
55:17
middle of all of this stuff is Bitcoin was designed for this
55:20
exact moment. Now obviously in the past when
55:24
we see a lot of bad news, Bitcoin does sell off first.
55:28
But maybe we are turning the tide here.
55:31
Maybe we are starting to see more people realize what Bitcoin
55:34
actually is. Maybe we're starting to see more
55:37
people realize that they do need a neutral reserve asset.
55:42
They do want a digital money that is hard capped at 21
55:45
million that no one controls, that you can send around the
55:48
world, that you can literally grab and go if there is some
55:52
kind of, you know, hot war in your country.
55:57
It's almost like Bitcoin was designed for this moment and
55:59
it's acting again, I'll say it again.
56:02
You guys can yell at me in the chat.
56:03
It's acting super resilient right now in the face of what we
56:07
saw October 10th into this bear market.
56:10
I think Bitcoin's holding up incredibly well now.
56:14
I could be wrong. It could go lower.
56:15
I know a lot of people are saying Bitcoin's going to go
56:17
lower. We'll see.
56:20
We'll see. We will totally see what's going
56:23
on in hindsight. We will potentially look back at
56:26
this moment and be like, yeah, that's, that's the moment when
56:29
Bitcoin really set itself apart on the world stage and I'm here
56:34
for it. I, I think Bitcoin's doing
56:36
exactly what it's supposed to do at the perfect time that it was
56:39
supposed to do it. Crazy times we live in, guys.
56:43
All right, we will be right back.
56:46
I don't know if I'm going to be able to stay on till the rate
56:49
cut announcement or rather the Fed meeting announcement, but I
56:55
got to plug my boys to bugle. So we'll be right back.
57:00
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code simply. All righty then guys, let me
59:43
see. Sorry guys, distracted by the
59:48
chat. Anyways, it is March again and
59:53
one of my favorite parody news sites.
1:00:00
The boys over the Bitcoin bugle are doing March Maxi madness
1:00:04
once again. If you're unfamiliar, this is
1:00:08
the culture guys, you know, so this is part of the Bitcoin
1:00:11
culture. I love them, love or hate the
1:00:13
bugle guys. I think that's the one of the
1:00:16
funniest news sites, parody sites.
1:00:20
The there there were some of the smartest guys in the space.
1:00:23
Well, it is March Maxi Madness again, a play on March Madness,
1:00:28
you know college basketball where you get the vote on your
1:00:31
favorite Bitcoin influencers or your favorite bitcoiners, I
1:00:36
guess and your very own simply Bitcoin guys are on it.
1:00:40
OK, but I really my call to action here is really for me.
1:00:45
You know you don't got to vote for Nico.
1:00:47
I don't I don't really no all right anyways, anyways, here we
1:00:50
go here's the brackets. They did ask me to do this a
1:00:54
while ago, but I'm doing this because I love them, not because
1:00:56
they asked me. So 2026 Maxi Madness tournament,
1:01:00
obviously it's where you get to vote on Twitter for your
1:01:05
favorite bitcoiner. There's a bunch of different
1:01:07
brackets, there's a bunch of different categories.
1:01:09
I I forget what the categories I think.
1:01:11
I think this top one here. Let me, let me let me find it.
1:01:15
All I know is that I'm in the hot region.
1:01:17
That's all that matters to me. Again, my ego is not above any
1:01:22
compliment here. So you need to vote me for the
1:01:26
hottest bitcoiner. That's that's what my call to
1:01:29
action is here. I I have I have a big, big road
1:01:33
ahead for me, but you know, underdog, I'm going to win this
1:01:36
year. Last year I got cooked literally
1:01:39
in my first round. I was against Sailor.
1:01:41
I got absolutely cooked. But this year I might be able to
1:01:44
make a little run. OK, so we have node region,
1:01:48
which is up here. This is the node region.
1:01:52
Obviously a play on the node wars that we have currently
1:01:57
found ourselves in. I think Nico, I think Nico here
1:02:01
down here is the like pod conf region.
1:02:07
So you know, go vote Nico. We're going to give Nico some
1:02:10
love here. Go vote for Nico.
1:02:11
It it starts tomorrow. There there is some, you know,
1:02:14
fanfare. There's some fun stuff to do on
1:02:16
Twitter, but it officially starts tomorrow.
1:02:18
You'll probably be seeing this all over Twitter, but really I'm
1:02:21
here to use my non existent clout here on simply Bitcoin to
1:02:29
have you guys vote in my direction.
1:02:31
OK, I am using all the tools available to me, which is this
1:02:36
show to plug myself in March maxi madness last year.
1:02:41
You know I probably didn't have that many of you guys that
1:02:45
really liked me that you know I didn't really build the goodwill
1:02:48
with you guys yet and hey, I still can't because some people
1:02:52
think I have an annoying voice. I think I have an annoying
1:02:54
voice, but if you are a fan of Opti, you need to go vote for me
1:03:00
in March. Maxi madness for in the hot
1:03:03
region. I'm I'm trying to I'm trying to
1:03:04
find the I'm trying to find what the names of all the groups
1:03:12
were. There's node, there's hot
1:03:16
region, there is pod comped, I think, and I forget what the
1:03:22
other one is, but this is just a little fun.
1:03:26
Here we go. Here we go.
1:03:27
OK, node, pioneer, pod comped and hot.
1:03:30
OK, so Nico's in pioneer. All right, Nico's in the pioneer
1:03:34
bracket. Love to see it, love to see it.
1:03:38
I'm over here in the hot bracket, but you know I might
1:03:41
get out the first round. I don't know if I'll be able to
1:03:44
be be Lynn Alden on that one, but hey, you never know.
1:03:48
Crazier things have happened in Maxi March Madness.
1:03:52
So guys, I'm I'm, I'm pretty warming you up.
1:03:59
OK, pause. Hey, yo, hey, yo, Jill, hey, yo,
1:04:03
pause. But tomorrow officially starts
1:04:06
marks Maxi madness. If you want to participate in
1:04:09
the Bitcoin culture, you want to have a little fun.
1:04:12
I know things have been a little doomerish around here, but there
1:04:17
there's still some fun left And and to me, this is part of the
1:04:20
fun. It won't be fun if I lose first
1:04:23
round. You know, I love Efra.
1:04:25
She's great, great person. But I'm going to win.
1:04:28
I'm winning that I'm at I'm at the very least winning first
1:04:31
round. So I need you guys all to vote
1:04:33
for me tomorrow on Twitter, OK, That's what we're doing.
1:04:40
That is the call of action here. I don't need no, don't like
1:04:43
today's show like Opti tomorrow on Twitter.
1:04:47
OK, All right, whoever made this is trolling.
1:04:52
Yeah, duh, bro. All right, do you guys not know
1:04:55
the bugle? Bugle is my favorite.
1:05:00
They're like my favorite news. They're not really news.
1:05:02
They're like the, you know, Babylon B of Bitcoin.
1:05:05
I think they're the funniest guys out there.
1:05:07
So I'm going to do 2 plugs here. Follow the bugle.
1:05:11
Some of the, you know, some of the trolls are maybe over your
1:05:15
head because you're not fully in the Bitcoin industry per SE.
1:05:19
I always find that most people that work in Bitcoin, they find
1:05:22
the bugle to be the funniest people out there because they're
1:05:26
kind of staying and doing all the stuff that we can't do.
1:05:29
That's why we love them. And people that are just, you
1:05:33
know, just average. I'm not, I don't want to say
1:05:36
average, but just like, you know, normal Bitcoiners, they
1:05:39
just hang around Twitter. They're like, who are these
1:05:41
guys? They're like the dumbest people
1:05:42
ever. And you're like, yeah, that's
1:05:43
kind of the point. Yeah, they are totally trolling.
1:05:46
That's that's kind of that's kind of the fun part.
1:05:49
And then I'm not going to plug the betting guys.
1:05:51
OK, Knox, we're not, we're not plugging the betting here.
1:05:55
I I do not condone that the betting markets aspect of this
1:06:01
because I was, I was going to bet against myself to win.
1:06:04
Maybe I'll make a bag. But yes, we are having fun, OK,
1:06:08
We are having some fun here, OK, Forgive me.
1:06:12
We still have a little fun. It's not fun.
1:06:14
What's the point of doing this? We're having a little fun.
1:06:16
We're going to have a lot of fun on Twitter for the next, you
1:06:19
know, end of March, March, maxi madness.
1:06:22
It is trolling. It is fun.
1:06:25
Can we have a little fun? Can I highlight some fun here on
1:06:28
the culture? This is some of the Bitcoin
1:06:30
culture. This is some of the stuff I
1:06:32
love. I love the guys over there, but
1:06:34
really, I just want to win, all right?
1:06:37
At least Get Me Out of the first round.
1:06:39
What's the point of having a show where, you know, thousands
1:06:41
of people watch if I can't use my clout for, you know, my own
1:06:46
benefit? All right, go like me tomorrow
1:06:52
on March March, Maxi madness watch.
1:06:56
They're going to I'm not going to tell the bugle guys they're
1:06:58
going to start clipping this. I just gave them the plug they
1:07:00
wanted. Actually, I will tell them I
1:07:02
will message them anyways, guys, that's all I got for you.
1:07:07
Well, maybe we'll talk about the rate cuts or you'll probably see
1:07:10
them on Twitter later. I'm guessing it's going to be a
1:07:13
pause. I don't really want to ramble
1:07:14
for 12 more minutes. I'm actually like I'm these blue
1:07:17
lights are killing me today. I forgot my glasses guys, I'm
1:07:22
I'm in shambles over here. OK, I'm in shambles and I need
1:07:26
to get off the stream, so I love you guys.
1:07:29
I appreciate you guys. I will appreciate you more if
1:07:32
you vote for me and March March Maxi madness.
1:07:36
Anyways, on that note guys, have a good rest of your day.
1:07:41
Get outside, get some sun, eat some good food, get a workout
1:07:45
and get your steps in. Call your loved ones, stack some
1:07:48
Bitcoin. That is what the seven steps?
1:07:53
I think that was 7. I don't know, 7 steps to succeed
1:07:58
7 bullet, I don't know. Anyways, peace out guys.
1:08:01
We will be back tomorrow at our same time as usual.
1:08:05
And wait before I go. I saw some people crashing out
1:08:08
over the late late start time. Guys, if you're here, you know I
1:08:13
post the show early. Just open up a tab.
1:08:18
Chill there. I start at 12:40.
1:08:21
OK, look, it was we. It is what it is.
1:08:25
All right? That's when I start.
1:08:26
That's when I'm able to get everything going.
1:08:27
That's when I got enough energy to do the show.
1:08:30
So, hey, if you don't like it, that's cool.
1:08:32
That's what I do here. OK, I'm starting at 12:40.
1:08:35
It is what it is. All right, guys, I love you.
1:08:37
Peace out. I will see you tomorrow.
1:08:39
Have a good rest of your day on that.
1:08:41
Now, this is your boy Opti, and you must vote for Opti in March.
1:08:44
Maxine madness tomorrow. Peace out.
1:08:50
Today's episode was brought to you by bitcoinwell.com, a
1:08:53
Bitcoin only platform on a mission to enable financial
1:08:56
independence.