Latest / Simply Bitcoin / What is Bitcoin's Full Price Potential? | EP 954

Transcript

What is Bitcoin's Full Price Potential? | EP 954 · Simply Bitcoin

• 0:03
  It's all. Going to zero against Bitcoin.
• 0:07
  It's going up forever. You're against Bitcoin.
• 0:17
  You're against freedom. Yeah.
• 0:23
  Welcome to another episode of Simply Bitcoin Live.
• 0:26
  You're number one source for the peaceful Bitcoin revolution
• 0:28
  covering you can use culture of Matic Warfare.
• 0:29
  We'll be your guide through the separation of money and state.
• 0:32
  Ladies and gentlemen, welcome to the most watched Daily Bitcoin
• 0:35
  live show on YouTube. Rumble NX.
• 0:38
  Simply Bitcoin. Buckle up.
• 0:39
  It's going to be a great show. So I want to talk about a, a
• 0:43
  topic that I hear a lot, which is I'm late to Bitcoin, right.
• 0:47
  A lot of people, they see the numbers they see and and unit
• 0:50
  bias is strong. You know, you're looking at
• 0:52
  $70,000 Bitcoin. This is, this is a lot larger
• 0:56
  than the average US salary here in the US So there's things like
• 1:00
  55 or 60 KA year. So you know, a lot of people are
• 1:04
  thinking like look, I've missed the train.
• 1:06
  I've I've missed the train. It's too late.
• 1:08
  Let me look at these other altcoin.
• 1:11
  I can buy a lot more of, you know, a lot more units for the
• 1:15
  same price that I could buy Bitcoin.
• 1:16
  Well, one doesn't equate to the other.
• 1:19
  This is why you know, platforms like Coinbase and a lot of the,
• 1:22
  you know, altcoin. Casinos in my opinion, do a
• 1:24
  disservice because they're peddling stuff that perhaps
• 1:29
  could perform well on a dollar term.
• 1:32
  But if you compare them on a Satoshi term like and and ask
• 1:37
  you guys to do this, don't trust.
• 1:38
  Verify. Ethereum, XRP, any of them.
• 1:42
  If you compare ETH to Bitcoin, ETH has been on a downward
• 1:47
  trend, I think since like 2017. ADA, same thing.
• 1:51
  XRP, same thing. Litecoin, same thing.
• 1:54
  So if you've been holding Bitcoin, you've been
• 1:57
  outperforming all of these all coins and it's the same thing.
• 2:00
  This happens every single cycle. You're not too late.
• 2:04
  Bitcoin still has a lot going for it, if we're right.
• 2:08
  The theory of the case is Bitcoin is the most superior
• 2:11
  asset the world has ever seen. I truly believe that Then we
• 2:15
  still have a long ways to go and today we're going to break down
• 2:20
  how, how much further we have to go.
• 2:22
  What exactly is that in percentage terms?
• 2:25
  What is the end game of Bitcoin? And believe it or not, like how
• 2:31
  Finney right one of the Bitcoin OG, is the first person to tweet
• 2:36
  on January 9th, sorry January 9th 2009 that he was running
• 2:40
  Bitcoin, which coincidentally was the same day that the
• 2:45
  Bitcoin ETF was approved January 9th, 2024.
• 2:50
  He put a prediction back in the day that bitcoins full price
• 2:56
  potential is 10 million U.S. dollars.
• 2:59
  We're going to talk about why that is.
• 3:01
  We're going to break it down. We're going to get into all the
• 3:02
  data. We're going to breakdown the
• 3:05
  short term price potential and we're going to breakdown the
• 3:08
  long term, the long term price potential.
• 3:11
  And all that being said, to kind of go back to what I was saying
• 3:14
  about the altcoins is it's really, are you low time
• 3:19
  preference, are you short time preference, 'cause you have to
• 3:22
  understand what these altcoins, what you're doing inherently is
• 3:26
  gambling. If we know for a fact that they
• 3:30
  underperform Bitcoin on on the long term, then what you're
• 3:35
  doing is that you're hoping that you can outperform Bitcoin in
• 3:39
  the short term in the hopes of accumulating more Bitcoin.
• 3:42
  Now, that being said, I've been doing this for quite a long
• 3:45
  time. This is my eighth year in the
• 3:47
  industry. There's very few people that
• 3:52
  I've ever met that have ever outperformed the dollar cost
• 3:57
  average, stay humble, Stack SAT's, stay solvent strategy,
• 4:02
  which is the strategy that we advocate here for on simply
• 4:05
  Bitcoin. You know, I think it's very
• 4:08
  difficult to control emotions. I think a lot of people can't
• 4:11
  help themselves with just a lump sum and go all the way in going
• 4:14
  hard and I've done that multiple times that dopamine head of
• 4:17
  stacking a like a nice little stacker.
• 4:20
  You know going 80% of your paycheck is, you know, it's a
• 4:22
  great feeling in my opinion, but that's just something to keep in
• 4:27
  mind, right, dollar cost average, stay humble, stack
• 4:31
  sats. We still have a ways to go.
• 4:33
  We still have tremendous opportunity and it's just it's
• 4:38
  important to remember that when these bull markets start to ramp
• 4:41
  up, which they are, you know we're currently almost at 70K.
• 4:45
  And what tends to happen when these bull markets start to ramp
• 4:48
  up is that a lot of the so-called altcoins start to pump
• 4:52
  as well. And in percentage terms they
• 4:56
  might outperform Bitcoin in the short term, but in the long term
• 5:00
  that is never the case. So that's the question that I
• 5:03
  have for you guys is are you a low time preference person where
• 5:08
  the probability of you succeeding is extremely high.
• 5:12
  I mean it's just very simple, you'd buy Bitcoin, earn Bitcoin,
• 5:16
  mine Bitcoin, take that Bitcoin into self custody, put it in
• 5:19
  cold storage, forget about it, you know and you're you're
• 5:22
  you're going to do very, very well for yourself.
• 5:24
  Or, you know, you could take the speculative route where I've
• 5:29
  seen a lot of, you know, Co workers, a lot of friends of
• 5:32
  mine, they've admitted this to me to something that I've seen
• 5:36
  countless times is that if they didn't do that, if they just
• 5:41
  bought Bitcoin instead, they would have ended up with more
• 5:44
  Bitcoin than if they didn't do that right.
• 5:48
  So at the end of the day, it's your money, it's your decision.
• 5:50
  You have every right to do whatever you want with it.
• 5:54
  But the reason I want to do today's episode is just to kind
• 5:57
  of give you guys an idea, the audience, an idea of how much
• 6:00
  opportunity there is still left in this.
• 6:03
  We're in the very, very beginning.
• 6:05
  I think Michael Saylor's analogy with New York State real estate.
• 6:08
  New York's New York City real estate is the best, right?
• 6:12
  The best time to buy New York City real estate was right in
• 6:16
  the beginning, when when Manhattan was literally like a
• 6:19
  barren island. That would have been the best
• 6:21
  time. Even in Miami here, like Miami's
• 6:24
  a pretty young city. 80 years ago, this was just barren and it
• 6:27
  was like Marsh, right? That was the best time to buy
• 6:30
  Miami real estate. But what Michael Saylor said,
• 6:33
  like, look, even if you waited, even if you bought New York real
• 6:37
  estate in the 1910s, even if you bought real estate in New York
• 6:41
  in the 1980s, you're still absolutely crushing it because
• 6:46
  of its scarcity and because of its demand, right?
• 6:49
  And that's just something to keep in mind.
• 6:52
  So anyways, it's going to be a great episode.
• 6:54
  We have an update for you guys as well in terms of the Europe
• 6:58
  self custody ban. There's more kind of
• 6:59
  clarification on it. A lot of people are saying that,
• 7:02
  look, actually, it wasn't really a self custody ban.
• 7:06
  It was this, I'm sorry guys, Totalitarians and regulations,
• 7:13
  they creep up slowly over time. It's not something that just
• 7:17
  happens all at once, right. So it's important that we stay
• 7:20
  vigilant and on top of it of what's really going on.
• 7:24
  And of course we have a very, very special guest on today's
• 7:28
  episode. And I'm gonna, I'm gonna let my
• 7:30
  legendary Co host who's always optimistic make the introduction
• 7:33
  and of course talking about Optimus Fields.
• 7:35
  How you doing Opti? I'm doing good.
• 7:38
  Shout out to the chat. Look at Opti's looking
• 7:41
  absolutely stunning and beautiful today.
• 7:44
  Look at that. Look at that guys.
• 7:46
  Check out Opti's Instagram. Shut up.
• 7:49
  Don't do that anyways. You know, I wanna.
• 7:54
  I have a bone in red. He's turning red.
• 7:56
  I'm turning red. You're you're getting me
• 7:58
  flustered. I do have a bone to picnico.
• 8:01
  You know, we we do our best not to cuss in the 1st 2 minutes of
• 8:05
  the show Because of YouTube. No, you you did something even
• 8:08
  worse. You started naming shit coins in
• 8:10
  the. 1st 2 minutes of the show. I mean, I have to.
• 8:14
  I have to because I think that these are some of the most
• 8:16
  popular that people know. I know.
• 8:18
  I get the message all the time. It's like ohh Nico this.
• 8:21
  They ask about Bitcoin and then they like, Fast forward six
• 8:24
  months, like six months later, they're like, yo, I bought
• 8:26
  Etherium, right? So like, I have to name them.
• 8:29
  I have to name exactly which ones they are.
• 8:31
  Which ones. They are you.
• 8:32
  You said, man, what was it? Ada?
• 8:35
  I was like, I I haven't even heard that.
• 8:36
  So kind of I'm like, what? Like what is this?
• 8:39
  I was actually telling one of my friends yesterday or no, on
• 8:43
  Friday he was saying like, Solano's going to flip E that's
• 8:45
  going to be hilarious. And I went over to the coin
• 8:47
  market cap and look at the, like the cryptocurrency list.
• 8:49
  And I'm like, I literally need to clean my eyes out with bleach
• 8:52
  now. Like I haven't been on that
• 8:53
  website in so long. It's oh man, PTSDPT.
• 8:57
  Anyways, anyways, there's something else I want to say,
• 9:00
  but I'm blinking, so I'm just going to go into our guest today
• 9:04
  super excited for this. We actually had Seed Signer on,
• 9:06
  I think it was Thursday of last week and he mentioned these guys
• 9:10
  and what they're doing down in Elzonte.
• 9:12
  Who am I talking about? Ronnie from the Bitcoin Hardware
• 9:14
  store in Elzonte. So super excited that we can get
• 9:18
  you on the show so quickly. We're going to talk about
• 9:21
  everything you guys are doing down there.
• 9:22
  Maybe even, you know, you were telling us that you used Bitcoin
• 9:26
  as a medium of exchange and oh, I remembered.
• 9:28
  I remembered. Sorry Ron, I have to cut you
• 9:30
  off, man. Unit bias is such a thing.
• 9:32
  It's absolutely incredible. Like, when are the exchanges
• 9:35
  gonna switch all the pricing to Satoshi's in dollars And then
• 9:39
  people will break that unit bias in their mind.
• 9:41
  But anyways, anyways, Ronnie, how you doing this morning?
• 9:44
  Super glad to have you, bro. I'm doing great.
• 9:46
  Thanks for having me guys. It's a fantastic day here in El
• 9:49
  Zante, Bitcoin Beach and some Willard buying coffee with my
• 9:53
  Bitcoin. What?
• 9:54
  What is it complain about? Absolutely.
• 9:58
  Roger Verne Disbelief. Did you wait, did you just say
• 10:02
  that you're actually using Bitcoin as a medium of exchange?
• 10:05
  Because a lot of people are saying that's not true.
• 10:08
  Can you believe it? Can you imagine somebody using
• 10:10
  Bitcoin as a medium exchange to buy Pepsi Coffee?
• 10:13
  Whatever. So you're actually transacting
• 10:16
  in Bitcoin? Wow, who could have known this
• 10:19
  isn't? But I thought this was
• 10:20
  impossible. This is the cyber world.
• 10:23
  Anything is possible. Oh man, I love that.
• 10:25
  Anything is possible. I like that.
• 10:27
  All right, ladies and gentlemen, before we jump into the show, I
• 10:30
  do want to give a very, very special shout out to our lead
• 10:34
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• 10:43
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• 10:45
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• 10:48
  coming out of Canada which recently expanded to all 50
• 10:52
  states. They're on a mission to make
• 10:54
  self custody the standard all over the world.
• 10:57
  And the way that you do that is by making self custody the
• 11:01
  default. What do I mean by that?
• 11:02
  If you buy Bitcoin on Bitcoin, well they make you take self
• 11:06
  custody. You can't buy Bitcoin on
• 11:08
  Bitcoin. Well, unless you're going to
• 11:10
  take self custody, which perfectly aligns with the simply
• 11:13
  Bitcoin ethos of the separation of money and state.
• 11:17
  Self custody is in the revolution is the revolution.
• 11:20
  Take self custody and you can do that by going to Bitcoin.
• 11:23
  Well, I also do want to give a shout out to the Bitcoin jackpot
• 11:27
  contest. It's currently live right now
• 11:31
  and go to bitcoinwell.com/contest for more
• 11:34
  details of the world. They're also doing giveaways.
• 11:37
  We've given away a passport, we've given away said Bunny
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  book. We've given away seed plates
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  over the last couple of weeks, so go to Bitcoin Jackpot
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  contest. So go to bitcoinwell.com/contest
• 11:47
  for more info. Currently the jackpot is over
• 11:50
  3.1 million satoshi's, so go sign up to the contest.
• 11:55
  The way that you do that is you sign up to Bitcoin.
• 11:57
  Well, if you're an existing user, go to the rewards tab and
• 12:00
  you can take some of the points that you earned buying Bitcoin,
• 12:04
  and you can put into the jackpot for your opportunity to win that
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  massive jackpot and some of these prizes that we're going to
• 12:10
  be giving away over the next couple of weeks.
• 12:12
  All right, ladies and gentlemen, no more delay.
• 12:14
  Let's jump straight into the show.
• 12:15
  We have a lot to talk about the Bitcoin numbers.
• 12:21
  Is your Bitcoin and cold storage really secure?
• 12:23
  Is your seed phrase really secure?
• 12:26
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• 12:38
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• 12:44
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• 12:53
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  allowing you to huddle your Bitcoin with Peace of Mind.
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  For the long haul. Stamp your seed on stamp seed
• 13:18
  guys. If you're enjoying the show
• 13:19
  right now, make sure to smash that like button.
• 13:23
  If you're watching us on YouTube Rumble or X, your favorite
• 13:27
  platform of choice, just smash the like button.
• 13:30
  Smash, Smash, Smash Really, really helps with the YouTube
• 13:33
  algos, With the Rumble algos, with Twitter algos.
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  Anyways, I also want to talk about Stamp Seed.
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  You can use the promo code simply to get 15% off Store your
• 13:43
  generational wealth properly. Don't start on paper, store it
• 13:46
  on titanium. At the time of recording, we all
• 13:49
  know we hit 70 K earlier on. Today we're at $69,770 stats per
• 13:56
  dollar. We're at 1433 block height,
• 13:59
  836,261 blocks to having 3739 having estimate April 19, 2024
• 14:09
  Total lightning network capacity 4359 Bitcoin capacity value 304
• 14:16
  million U.S. dollars Realized monetary inflation 1.73% The
• 14:22
  market capitalization of Bitcoin is 1.37 trillion U.S. dollars
• 14:27
  Bitcoin verse gold market cap. We're sitting pretty at 9.95%.
• 14:32
  We're almost at 10% of the gold market cap.
• 14:35
  Anyways, I do want to give a quick quick update on the the
• 14:42
  European news that we were, we reported on on on on Friday's
• 14:45
  episode. So the initial news was
• 14:49
  basically like, look, they're banning you know, self custody
• 14:53
  and whatever, that's not what we said on Friday.
• 14:56
  We basically said like, look, they're setting caps on the
• 14:59
  amount of Bitcoin that you can withdraw without proving that
• 15:04
  you know that you are the owner of that said address.
• 15:08
  But the the real that to me is I wouldn't call it noise like it's
• 15:13
  definitely signal. But the the point that you have
• 15:17
  to pay attention to is the slow creep, and Svetsky put it so
• 15:23
  well on Friday's episode. Why do we live in a world where
• 15:29
  bureaucrats and politicians who don't have any type of financial
• 15:35
  discipline whatsoever, they spend like drunken sailors.
• 15:41
  They they they spend money they don't have.
• 15:45
  They spend money that they don't raise in tax revenue, and they
• 15:49
  do that through deficit spending.
• 15:51
  They do that through money printing.
• 15:53
  But for the populace, we play by a different set of rules.
• 15:59
  So, you know, this was kind of like the theme, which is like,
• 16:02
  look like they're not banning anonymous crypto wallets.
• 16:06
  And you know, that's the, that's the new news that have come out
• 16:09
  because a lot of people were saying that on Friday.
• 16:12
  They're not doing that. OK.
• 16:14
  So what is it exactly that they're doing?
• 16:16
  Because let's kind of like dive into it, right.
• 16:19
  So here's Freddie New. Freddie New is the head of
• 16:23
  policy of the Bitcoin Policy UK and he says this needs to be
• 16:28
  taken seriously. But as always, it's crucial to
• 16:30
  read the text of the actual legislation.
• 16:34
  This is a prohibition on anonymity, not of Bitcoin.
• 16:39
  I mean, you could say, oh that's wonderful, that's great.
• 16:44
  I mean, why is anonymity prohibited in the 1st place?
• 16:49
  I've said this many times, you can't have freedom without
• 16:53
  privacy. Anyways goes on to say if you're
• 16:57
  able to prove through a signing, signing a message that you
• 17:01
  control the keys to an address. It is not anonymous and it is
• 17:05
  linked to you. I understand that Treasure and
• 17:08
  Swiss Bitcoin Pay are already working on UX to enable this.
• 17:12
  The most apparent effect will be increased customer due diligence
• 17:16
  before you transfer in and out of self custody.
• 17:19
  Your coins in self custody and self custody itself are
• 17:22
  unaffected, the wording clearly states in bold.
• 17:26
  The prohibition does not apply to providers of hardware and
• 17:29
  software or providers of self hosted wallets, insofar as they
• 17:33
  do not possess access or control over those crypto asset wallets.
• 17:38
  Don't don't panic. Read the actual source.
• 17:41
  Decide what, if any, action you'll need to take after doing
• 17:45
  so. Now if you go here, here's the
• 17:48
  actual kind of voting for it. Look, the entire like, she's
• 17:51
  like, yeah, let's go for it. Let's, let's vote this away.
• 17:55
  So look, I think privacy is very important.
• 18:00
  I think privacy is a fundamental human right.
• 18:02
  I think we have to be extremely wary of the government creep, of
• 18:07
  government regulation creep. And if you don't learn from the
• 18:11
  past, you're destined to repeat it.
• 18:13
  I always bring up the Bank Secrecy Act because I think it's
• 18:16
  the most apparent. So the Bank Secrecy Act was
• 18:18
  passed in 1970. Remember those arbitrary numbers
• 18:23
  of €3000, of €1000 because they're basically saying like
• 18:27
  look if you spend €1000, if you spend you know over €3000, all
• 18:34
  of a sudden that's an anonymous transaction, you're a criminal
• 18:37
  by default. We have to remember where this
• 18:40
  started so many years ago, and this is what I'm talking about,
• 18:43
  the the slow regulatory creep. And the reason they do it slowly
• 18:47
  is to normalize it once you get people normalize.
• 18:51
  Oh, we're not banning self custody.
• 18:53
  We're actually just prohibiting anonymity.
• 18:57
  What do you think's gonna happen in five years?
• 19:01
  Look at this. Look at the thesis from the
• 19:03
  sovereign individual. Right.
• 19:05
  As the modern nation state gets desperate, because their ability
• 19:10
  to tax their populace is greatly diminished by people opting out
• 19:16
  of the system entirely, they're going to become more
• 19:19
  totalitarian. That explains right, the the the
• 19:23
  whole misinformation campaign that explains these types of
• 19:27
  regulation. Look, I'm a bitcoiner.
• 19:30
  What if they just had better incentives?
• 19:32
  People wouldn't be forced to use their system.
• 19:36
  People wouldn't be forced to do this.
• 19:39
  They're coercing people to do this and that.
• 19:41
  That's something that's really important to understand.
• 19:44
  So here is part of the Bank Secrecy Act, the F bar.
• 19:48
  It says U.S. citizens in residence with a financial
• 19:50
  interest in the authority over foreign bank accounts or for a
• 19:53
  foreign financial accounts with an aggregate value of $10,000 or
• 19:57
  more are required to file a a Foreign Bank Account report.
• 20:01
  And also part of the Bank Secrecy Act is currency
• 20:06
  transaction reports. A currency transaction report
• 20:09
  reports cash transactions exceeding $10,000 in one
• 20:13
  business day. Regardless of whether it's in
• 20:16
  one transaction or several cash transactions, it is filed
• 20:19
  electronically with the Financial Crimes Enforcement
• 20:23
  Network. Now you would say, OK, that's
• 20:26
  not a big deal. The reason that people didn't
• 20:27
  really care about this back in 1970 was because if you actually
• 20:32
  look at the purchasing power of $10,000 in 1970, today it is the
• 20:40
  equivalent of $79,000. That's why people don't really
• 20:44
  care. So it's important to pay
• 20:47
  attention to government creep, this idea that that anonymity is
• 20:51
  prohibited. This idea that privacy is
• 20:53
  prohibited. What if you're a government
• 20:56
  dissident? What if the political party that
• 20:59
  you oppose is in power? Remember what happened with
• 21:04
  WikiLeaks? They got shut off from the
• 21:06
  financial system and you know, the only thing that they were
• 21:09
  able to accept transactions in is Bitcoin.
• 21:13
  But to go back to Svetzi's point on the Friday episode, I, I, I
• 21:17
  just, I don't think that's the correct framing.
• 21:19
  I think the correct framing is why should bureaucrats get to
• 21:25
  dictate how you can and how you can't use money if they don't
• 21:34
  even have the discipline to not spend money they don't have?
• 21:39
  And remember, I I can't help but to remember what happened with
• 21:44
  Tucker Carlson when he wanted to interview the ex Prime Minister
• 21:49
  of the United Kingdom, Boris Johnson.
• 21:51
  And Boris Johnson asked to get paid in dollars, gold and
• 21:58
  Bitcoin. Why would he ask for Bitcoin?
• 22:02
  So again, it's don't pay attention to what they say, pay
• 22:06
  attention to what they do. I think this is another example
• 22:10
  of central banker politician projection and I think it's also
• 22:16
  another example of rules for thee, but not for me.
• 22:20
  So anyways, I think this is something to stay on top of, to
• 22:23
  pay attention and I think it's utter, excuse my language
• 22:27
  bullshit. That's to be to be blunt, like,
• 22:31
  what are these arbitrary limits? And mind you, this isn't only
• 22:35
  happening in the in in the European Union, this this
• 22:38
  happened in the United States as well, where they tried to pass a
• 22:41
  law where every $600.00 transaction had to be reported.
• 22:48
  These are the same politicians that have net worths of over
• 22:53
  hundreds of millions of dollars on a government salary.
• 22:57
  So what's going on there? It looks like they're playing by
• 23:00
  a different set of rules and they expect all of us to play
• 23:03
  by. And then when we choose to use a
• 23:06
  different an uncorruptible money, they try to, to use
• 23:11
  Christine Lagarde's own words close the escape valves.
• 23:15
  I'm sorry if I'm skeptical. I'm sorry that if I'm jaded, I'm
• 23:18
  sorry that I don't believe the the bullshit anymore.
• 23:22
  This is just they want you in their system.
• 23:25
  They control you in their system.
• 23:28
  And what what Bitcoiners are advocating for is not as not
• 23:31
  another system, an alternative system of control.
• 23:35
  But what bitcoiners are advocating for is a system where
• 23:39
  no one controls anyone. It's rules without rulers.
• 23:43
  And I'll be blunt, if you're against Bitcoin you're anti
• 23:46
  human. If you're against Bitcoin, you
• 23:49
  want people to use a system that steals from you.
• 23:54
  It's as simple as that. If you are against Bitcoin, you
• 23:58
  support central banking, full stop.
• 24:01
  Period. And if you if you address it
• 24:05
  that way, if you confront it that way, they have absolutely
• 24:09
  no response to it. So anyways, those are my
• 24:13
  thoughts. Opti, what are your thoughts on
• 24:15
  this? Opti's more jaded than I am,
• 24:17
  man, so shouldn't surprise Opti whatsoever.
• 24:21
  First and foremost. You're against Bitcoin.
• 24:23
  You're against freedom. Got him?
• 24:26
  Play that every once in a while. I mean, Nico, like, why?
• 24:30
  Why do you want privacy? What?
• 24:31
  What do you have to hide, bro? What?
• 24:33
  What? What are you trying to hide over
• 24:34
  there? Why do they?
• 24:35
  Why do they want privacy? Why do they?
• 24:37
  You know why do they want privacy like?
• 24:39
  It's. So it's such clown it's.
• 24:41
  Such a low hanging fruit excuse. It's funny when you talk to
• 24:44
  average people and you talk about privacy that they use that
• 24:47
  example of. Like, what do you want to hide,
• 24:49
  right? Like, I've got nothing to hide.
• 24:50
  I don't need privacy. It's like, yeah, well, you still
• 24:53
  wear clothes and you still close your windows at night.
• 24:55
  Everyone wants privacy. And it.
• 24:58
  I mean, to your point, I'm glad we got this clarification on the
• 25:02
  show because to your point, it's what we were saying that last
• 25:06
  week, I think it was Friday when we were talking with Fetsky
• 25:09
  about the idea of once they start to control capital, like,
• 25:13
  you know where this is going and it's all about the same thing,
• 25:16
  is it's like what everyone in the chat is saying.
• 25:19
  They know that the jig is up. They know what game's being
• 25:21
  played. And if more and more people
• 25:24
  escape the Fiat system, then they go into Bitcoin, then they
• 25:28
  lose that control, they lose the ability to manipulate people.
• 25:31
  And they're doing their best to frame this in a way where it's
• 25:34
  like, oh, it's for your protection guys.
• 25:35
  It's always for your protection, but we know the game, they can't
• 25:38
  control Bitcoin, hence why we saw a choke .2 point O play out
• 25:44
  all last year and that they know that the on and off ramps are a
• 25:47
  legitimate attack vector. And so This is why they're going
• 25:51
  to try to maintain their control.
• 25:52
  Again, it's always about control.
• 25:54
  It will always be about control until you're in a system that
• 25:57
  they can't control and of course that is Bitcoin.
• 25:59
  So I'll keep it short and sweet and let's bring Ronnie and
• 26:01
  Ronnie. What's your thoughts on all
• 26:02
  this? Yeah man, I think you're right
• 26:06
  on point there. I actually, I don't know if the
• 26:08
  chat saw me when you said if you're against Bitcoin, you know
• 26:13
  you're you're with central banks.
• 26:14
  I mean it's really that simple. We see it here in in Salvador
• 26:18
  every day. We have the choice to either use
• 26:21
  dollars or use Bitcoin and I'm thankfully living on Bitcoin
• 26:25
  Standard and trying to support as much as is it's possible,
• 26:29
  trying to educate, work with people who are on the same boat
• 26:31
  as me, we're we're trying to fight the same fight.
• 26:33
  There's so many great projects, so many fantastic people.
• 26:36
  Because we stand, we stand with Zach with what you're saying
• 26:39
  there, Nico, 100% of the way. Let's go.
• 26:42
  I love that and I think El Salvador is definitely leading,
• 26:46
  you know, leading the good fight.
• 26:47
  We have a beachhead. We have a nation state that has
• 26:50
  made Bitcoin legal tender and I think it's a huge effing deal.
• 26:55
  I do want to give a shout out to the Super chats first one by
• 26:58
  Will M thank you for the $2.00 and says let's let's get this
• 27:02
  BTC. Absolutely and we have Hamasito.
• 27:05
  Thanks for the $2.00 appreciate it brother.
• 27:07
  Appreciate you guys really really helps with the show.
• 27:10
  Anyways, I do want to give a very special shout out to our
• 27:13
  merch or else Buddy Winekiss will absolutely kill us.
• 27:18
  And guys check out the Simply Bitcoin new collection.
• 27:21
  We teamed up with a awesome Bitcoin artist, his name's
• 27:24
  Asanoa and he has all these. We we teamed up to him.
• 27:28
  This is a collab. We have the Peaceful Bitcoin
• 27:31
  Revolution shirt, we have the Gold Bitcoin pill, we have the
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  Gold Bitcoin snapback, we have the Gold Bitcoin Dad hat.
• 27:38
  And we we've been listening to the ladies so we released some
• 27:42
  ladies merch as well Guys get yours Well supplies last.
• 27:46
  This has been flying off the shelf, so you might actually be
• 27:49
  out out of some of these, so. Yeah, I was just about to say
• 27:52
  that I got an update by wine. I think we're running pretty low
• 27:56
  on a few sizes. We will update the inventory,
• 27:59
  but they're they're almost gone guys.
• 28:01
  So if you love the merch and you've been sitting on the
• 28:03
  sideline, hopefully you have a size left and and also Nico, we
• 28:07
  will be bringing some to the having party.
• 28:10
  We'll probably have some for bitblock boom, the leftovers.
• 28:13
  So we we got some merch for you guys.
• 28:16
  Yeah, absolutely, 100%. So guys, you know, just to be
• 28:19
  clear, make sure you stack those Sats first, first and foremost.
• 28:24
  But if you do want to support simply Bitcoin, help us stay
• 28:27
  independent. Really, really helps if you guys
• 28:30
  check out our merch. Anyways, ladies and gentlemen,
• 28:32
  let's get to the news. We have a lot to talk about
• 28:35
  today. The Daily News.
• 28:41
  I want to give a shout out to our sponsor, Foundation Devices.
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  Guys, not your keys, not your cheese.
• 29:56
  All right ladies, don't get to today's news quick.
• 29:58
  ETF update Micro Strategy currently holds 214,000 Bitcoin.
• 30:05
  Marathon Digital Holdings currently holds 16,930 Bitcoin.
• 30:09
  Tesla holds 9720 Bitcoin. But Lettuce Hands?
• 30:15
  Man, they sold. They sold at a bad time.
• 30:17
  They should have. They should have kept on to that
• 30:20
  anyways. On the on the ETF front, the
• 30:23
  Grayscale Trust continues to go down.
• 30:26
  People continue to sell their grayscale and reallocate to the
• 30:31
  other ETFs, but as Adam back so well put, you know, eventually
• 30:37
  there's just going to be no more Bitcoin to sell, right?
• 30:40
  So the BlackRock ETF currently holds 243,000 Bitcoin and the
• 30:47
  fidelity seems to be going a little bit sideways.
• 30:49
  It hasn't really increased much. I think it went from 1:33 to
• 30:52
  1:36, but the BlackRock 1 continues to go absolutely ham
• 30:58
  gobbling up all the corn, right? So quick ETF update on that
• 31:02
  front. And another news, I wanna talk
• 31:04
  about today's subject matter. So the subject matter is
• 31:07
  basically, are you too late to Bitcoin and what is Bitcoin's
• 31:11
  full price potential? So I think it's important to
• 31:15
  note Hal's original post, right? So how's original post?
• 31:21
  Absolute legend. This was posted 11th of January
• 31:24
  2009 originally. And how initially he puts up in
• 31:29
  the beginning the turtle the total circulation of Bitcoin 21
• 31:32
  million coins. How will be distributed?
• 31:36
  But there's a very interesting part of this at the very bottom,
• 31:39
  where he says as an amusing thought experiment.
• 31:42
  Imagine that Bitcoin is successful.
• 31:44
  Mind you, this was in 2009. Bitcoin did not have value,
• 31:49
  period. Right?
• 31:50
  So this absolute legend. Anyways, as an as an amusing
• 31:55
  thought experiment, imagine that Bitcoin is successful and
• 31:58
  becomes the dominant payment system in use throughout the
• 32:00
  world. Then the total value of the
• 32:02
  currency should be equal to the total value of all wealth in the
• 32:06
  world. Current estimates of total
• 32:08
  worldwide household wealth that I found range from 100 trillion
• 32:12
  to 300 trillion. With 20 million coins that gives
• 32:16
  each coin a value of about 10 million U.S. dollars.
• 32:22
  Fast forward a couple years right here is wow bro you have a
• 32:27
  complicated name but I'm gonna try my best scenes 2020 S
• 32:32
  Capital and he's following up on the on the how Finney
• 32:36
  prediction. So he goes on to say what is the
• 32:39
  total wealth that Bitcoin could potentially attract at hyper
• 32:43
  bitcoinization. What final piece does this
• 32:46
  imply? So he goes on to say I already
• 32:49
  read you guys that part about how Finney's post.
• 32:52
  There are different approaches to this, but what we choose to
• 32:55
  compute the total amount of wealth that exists in various
• 32:58
  assets at hyper bitcoinization. We expect Bitcoin to observe the
• 33:02
  monetary premium of other stores of value that are currently in
• 33:06
  use. The the main current store of
• 33:08
  values are gold, equities, bonds, real estate.
• 33:12
  Others like cars or art have negligible market caps.
• 33:16
  The total market cap of all these assets, including Bitcoin,
• 33:19
  is about 637 trillion, with real estate being by far the largest
• 33:25
  asset class. So what did he mean by monetary
• 33:28
  premiums? Right.
• 33:30
  I think it's a very kind of important topic to talk about
• 33:33
  here. It is right here.
• 33:34
  So what do you mean by monetary premiums?
• 33:36
  So you have to understand that in a world with broken money, in
• 33:41
  a world with inflationary money, if you are a high net worth
• 33:45
  individual or let's say you're someone who own, who earns a
• 33:49
  high income, what happens is that you're forced to become a
• 33:54
  part time investor just to maintain your purchasing power.
• 33:58
  Bitcoin kind of puts everything on its head.
• 34:01
  And what does a a a part time investor or what does
• 34:05
  outsourcing your, well, your wealth management curtail?
• 34:08
  What does it mean? It means that you park a lot of
• 34:12
  your wealth in real estate because if you just parked it in
• 34:15
  a bank, you'd get absolutely crushed by inflation.
• 34:20
  So what do you do? You either you start becoming a
• 34:22
  part time investor, you start buying real estate, you start
• 34:25
  buying art, you start buying cars, or you start to outsource
• 34:30
  it to wealth management firms like Goldman Sachs, Charles
• 34:34
  Schwab, Morgan Stanley, They charge you a percentage.
• 34:39
  And what that does is that these quote UN quote stores of value
• 34:43
  have absolute crazy premiums. You want to know why you can't
• 34:48
  afford a house? If you you want to know why the
• 34:50
  housing prices in real estate is so crazy.
• 34:53
  This is why. Because wealthy people or just
• 34:57
  banks and even BlackRock started buying real estate to to find,
• 35:00
  you know, a place to park the money.
• 35:03
  People start to seek stores of value.
• 35:05
  But do you think real estate is a superior store to value
• 35:08
  compared to Bitcoin? You have to pay property tax.
• 35:12
  You have to fix up the property every.
• 35:14
  So while you obviously have to rent it out if you're an
• 35:17
  investor so that you know at least you make some type of
• 35:20
  return on that real estate. Because if not, if you're just
• 35:23
  sitting on it and then hoping for the value of the land or the
• 35:26
  land value of the property to go up, you still have to pay the
• 35:29
  property tax. So it's like constantly
• 35:33
  requiring you to maintain the thing.
• 35:37
  Now, if you compare that with Bitcoin, for example, you don't
• 35:43
  have to pay anybody. If you put Bitcoin into cold
• 35:46
  storage and you do it properly, you could sleep soundly at
• 35:50
  night. You don't have to worry about
• 35:52
  any of this stuff. Bitcoin is the superior asset.
• 35:56
  Here's this great piece by by Jesse Myers, and he covers this
• 36:04
  right Bitcoin's full price potential.
• 36:06
  So let's get to it. And then we'll get into the What
• 36:08
  is the actual X return? So what is the 500 X 200 XA 100
• 36:13
  something X? What is the actual X return if
• 36:17
  Bitcoin reaches that $10 million that Halfini pointed out and I
• 36:22
  think a bunch of other bitcoiners have pointed out as
• 36:24
  well. So Jesse goes on to say what
• 36:28
  sets the ceiling for asset valuations.
• 36:30
  This is a piece of the puddle, that piece of the puzzle that
• 36:32
  usually goes unaddressed. Different assets have different
• 36:35
  ceilings, meaning the percentage of the global asset pie that
• 36:38
  could ever real that could ever realistically be.
• 36:41
  This is because the valuation of each asset category is
• 36:44
  constrained by key variables in their respective valuation
• 36:48
  equations. The value of a company is
• 36:50
  determined by two major inputs. It's expected future cash flows
• 36:55
  and the discounted rate for those cash flows in other ways.
• 36:58
  In other words, how much money can a company realistically
• 37:02
  expect to pull in and how low are interest rates going to be
• 37:05
  in the future? For real estate, it's a similar
• 37:08
  story. Global real estate values
• 37:10
  constrained by the expected future cash flows for rentals
• 37:14
  and commercial properties, mortgage rates and the amount of
• 37:18
  new supply being created when real estate bubbles form as
• 37:22
  builders seek to create more supply to cash in on elevated
• 37:25
  prices. Commodities are different in the
• 37:27
  sense that interest rates are not a primary input that helps
• 37:30
  to establish a ceiling for valuations.
• 37:32
  Instead, commodity valuations are primarily constrained by a
• 37:35
  new supply, For instance with gold.
• 37:38
  Gold mining efforts collectively add 2% per year to the above
• 37:42
  ground supply. This steady 2% annual supply
• 37:46
  growth has been true for the last century as the low hanging
• 37:49
  fruits of gold deposits have been plucked.
• 37:53
  Technology has unlocked access to previously unreachable
• 37:57
  deposits at 12 trillion in total above ground gold.
• 38:00
  This means the global market must absorb 240 billion, and you
• 38:06
  supply each year just for the price of gold to remain where it
• 38:09
  is. This downward pressure on gold's
• 38:11
  price acts like the force of gravity, keeping gold's
• 38:15
  valuation constrained by the realities of supply and demand.
• 38:19
  What makes Bitcoin so different is that the market has absorbed
• 38:23
  half as as much new supply from mining every four years.
• 38:28
  That's right. So if the price of gold goes up,
• 38:32
  the amount of gold being mined goes up with it.
• 38:35
  But if the price of Bitcoin goes up, the amount of Bitcoin being
• 38:39
  mined stays the same. Not only does it stay the same,
• 38:43
  it actually gets cut in half every four years and it's about
• 38:46
  to happen in less than 30 days. Bitcoin has uniquely attractive
• 38:51
  properties as a store of value asset.
• 38:54
  Bitcoins properties were never possible in the physical world.
• 38:58
  They could only happen in the digital realm.
• 39:00
  Before Bitcoin, it was always possible to copy and paste.
• 39:03
  In the digital realm, it's just information after all.
• 39:06
  Bitcoins principal innovation was the invention of digital
• 39:09
  scarcity. This breakthrough enabled
• 39:11
  Bitcoin to simultaneously implement two additional firsts
• 39:15
  in the global asset landscape, increasing scarcity.
• 39:19
  And the most important here is absolute scarcity.
• 39:22
  Now let's compare it to gold. You don't know how much gold is
• 39:25
  in the ground, and you don't know how much gold is floating
• 39:28
  in outer space. A lot of people predict that
• 39:31
  there's asteroids in outer space that have more gold contained in
• 39:34
  them than the amount of gold on Earth.
• 39:37
  I could tell you for a fact that there aren't any floating
• 39:41
  asteroids in outer space that contain millions of Bitcoin.
• 39:45
  There's 21 million Bitcoin full stop, four millionaire estimated
• 39:49
  to be lost, and one millionaire estimated to belong to Satoshi.
• 39:53
  And those coins have never moved.
• 39:55
  So subtract 5 million by 21 million and that's really
• 40:00
  Bitcoin's total supply anyways. It goes on to say individuals
• 40:04
  who wrap their heads around Bitcoin's design eventually
• 40:06
  arrive at the same logical conclusion.
• 40:09
  Bitcoin stashed away today will be worth more in the future
• 40:13
  where there's less Bitcoin being released every day.
• 40:16
  It's the unavoidable supply demand reality of increasing
• 40:19
  scarcity. Here's an original quote from
• 40:22
  Satoshi Nakamoto February 18th, 2009.
• 40:25
  As the number of users grows, the value per coin increases.
• 40:29
  It has the potential for a positive feedback loop.
• 40:32
  As users increase, the value goes up, which could attract
• 40:36
  more users to take advantage of the increasing value.
• 40:39
  It goes on to say Bitcoin is an excellent savings technology for
• 40:43
  any value that is interested in being propagated undiluted
• 40:47
  through time and growing and purchasing power along the way.
• 40:51
  But how much value is out there looking for such a vehicle?
• 40:54
  And that's the question that I want to answer in today's
• 40:57
  episode. So obviously this chart right
• 41:00
  here is a bit dated. This original article came out,
• 41:03
  I think, about a year or two or so, but for the sake of today's
• 41:08
  episode, it's equally as important.
• 41:10
  And I did update the numbers in terms of of what the full price
• 41:15
  potential is. So currently Bitcoin's market
• 41:18
  cap is not $400 billion. Currently, bitcoin's market cap
• 41:21
  is 1.36 trillion, right? But as you can see, with the
• 41:26
  total global asset value of 900 trillion, there's a tremendous
• 41:32
  amount of opportunity still left, especially because Bitcoin
• 41:37
  is the superior asset. As Michael Saylor continues to
• 41:42
  prove with his strategy, Bitcoin has outperformed the S&P 500.
• 41:48
  It's outperformed gold. It's outperformed everything.
• 41:51
  MicroStrategy has outperformed everything because it has
• 41:55
  adopted a Bitcoin strategy. It's just a matter of time
• 41:59
  before the rest of the world wakes up to that reality.
• 42:01
  And by the way, the large institutional asset managers
• 42:05
  already woke up to that reality. That's how the ETF got approved,
• 42:10
  even though members of the US government, Koffkoff Gory, Gary
• 42:13
  Gensler, were grinding their teeth.
• 42:16
  But they couldn't stop BlackRock at such a large, influential
• 42:19
  firm from BlackRock from bitcoins.
• 42:21
  Incentives, bitcoins. Incentives are a black hole.
• 42:25
  So to think that, you know it's not going to capture a portion
• 42:29
  of that total global asset value of 900 trillion, I think is
• 42:33
  naive. I think it's naive.
• 42:35
  By the way, this doesn't include derivatives.
• 42:37
  And also by the way, this is 900 trillion today in 2024.
• 42:44
  But if you look at the total global asset value, as time
• 42:47
  progresses, of course, economies grow, more technologies are
• 42:51
  invented, wealth is created. That tends to happen over time,
• 42:56
  so that's the total asset value today.
• 42:59
  But mind you, even if that continues to grow, the supply of
• 43:03
  Bitcoin stays exactly the same. It goes on to say this
• 43:06
  undoubtedly overstates some categories and under understates
• 43:08
  others and maybe missing some pieces altogether.
• 43:11
  Point is though, point is, this is a rough picture of all the
• 43:15
  world's value. It's something like 900 trillion
• 43:17
  in total. But how much of that is relevant
• 43:20
  to Bitcoin? How big is the addressable
• 43:22
  market? It's worth remembering that when
• 43:24
  it comes to the store value use case, investors are interested
• 43:27
  in parking their value in whatever asset can propagate
• 43:30
  their wealth into the future most of most effectively.
• 43:33
  So any asset that does better can attract capital from every
• 43:37
  other asset category. In that sense, bitcoins total
• 43:40
  addressable market is the world's balance sheet.
• 43:43
  All 900 trillion of it. So long as Bitcoin has the most
• 43:48
  attractive characteristics as a store of value in the investable
• 43:51
  landscape, this will remain so. Bitcoin is a black hole on the
• 43:55
  world's balance sheet. Any of the value stored in some
• 43:58
  particular asset could theoretically be reallocated to
• 44:02
  Bitcoin instead. All it takes for is for
• 44:04
  individuals to decide that Bitcoin is a better asset to
• 44:07
  hold than what is current than what they are currently holding.
• 44:11
  Currently the world's collective allocation of Bitcoin is just
• 44:14
  .05% .4 trillion out of 900 trillion.
• 44:19
  Well, not so much since the, you know, obviously bitcoins market
• 44:22
  cap has increased. Anyways, it goes on to say, even
• 44:25
  if Bitcoin is the best asset out there, it is foolish to expect
• 44:28
  that everyone will eventually decide to be 100% Bitcoin.
• 44:32
  But it is also unrealistic to expect that Bitcoin will remain
• 44:36
  at .05 allocation in the world's balance sheet.
• 44:38
  By addressing each store of value asset bucket, it's
• 44:42
  possible to estimate what percentage of the value stored
• 44:45
  in each will be reallocated to Bitcoin once the world
• 44:48
  collectively understands Bitcoins unparallel properties.
• 44:52
  This exercise ultimately yields a full potential valuation for
• 44:56
  Bitcoin in today's dollars. And then he goes on to
• 44:59
  anticipate. He comes to and the conclusion
• 45:03
  of $200 trillion market cap that is bitcoin's in his eyes,
• 45:11
  Bitcoin's full potential. Now, what's really interesting
• 45:14
  about this is that it perfectly correlates with how Finney's
• 45:19
  prediction as well over, he continues on to say.
• 45:23
  Overall, my personal assessment is where the ceiling is for
• 45:26
  Bitcoin is simple. It's very high, almost to the
• 45:29
  point that I'm embarrassed to show my analysis.
• 45:32
  My conservative estimate suggest an outrageous full potential for
• 45:35
  Bitcoin's price, $10 million per coin.
• 45:38
  To put this another way, I believe Bitcoin's full potential
• 45:42
  is to eat 25% of the world's value.
• 45:46
  Well, today can it constitutes just .05%?
• 45:49
  That's absurd. That means that I believe
• 45:52
  Bitcoin could 500X over the coming decades.
• 45:55
  Now here's the thing. That's when the Bitcoin market
• 45:57
  cap was at 400 Tri 400 billion. Things have changed now.
• 46:04
  So if you do the math now, 200 trillion divided by 1.36
• 46:09
  trillion equals A147X. So that is Bitcoin's full
• 46:15
  potential according to if it reaches the $10 million, if it
• 46:20
  reaches, you know, Jesse Meyer's articles potential.
• 46:23
  And this is exactly why we've been advocating for guys
• 46:27
  continue to stack, because we've been telling you to buy Bitcoin
• 46:32
  when this thing was at a $400 billion market cap.
• 46:35
  I think we've been telling you to buy Bitcoin when this thing
• 46:37
  was at 100 million, a $100 billion market cap.
• 46:40
  I think we were telling you to buy Bitcoin before when it was
• 46:43
  underneath $100 billion market cap, right.
• 46:46
  So this is what's in front of us.
• 46:49
  And mind you, what if it doesn't even come close to 147 X?
• 46:53
  What if this takes a couple decades and you're like, dude, I
• 46:56
  don't have a couple decades? What if it just does a 10X?
• 46:59
  What if it just does a 20X? What other asset?
• 47:03
  And if you include risk in that risk adjusted return, what other
• 47:07
  asset can provide that? Nothing on the face of the
• 47:10
  planet. But I know what a lot of you
• 47:12
  guys are thinking. Maybe I don't have 10 years,
• 47:14
  maybe I don't have 20 years, maybe I don't want to wait 20
• 47:16
  years. I want it now.
• 47:17
  Well, this is where Kathy Woods predictions, by the way.
• 47:21
  She has completely changed this. Now she's actually increased
• 47:25
  this now that Black Rock has put their hat in the ring because
• 47:29
  the ETFs completely changed the conversation and she gives 3
• 47:33
  predictions. And by the way, this is dated
• 47:35
  because the bull case is actually north of 2,000,000 by
• 47:38
  the way, but these are her predictions by 20-30, so the
• 47:42
  bear case is 258,000. I think that's like so easy.
• 47:48
  I think that's like a like less than 5X.
• 47:51
  If I'm doing the math in my head correctly, then the base case is
• 47:55
  682,000. That would make it that would
• 47:58
  put it at the market cap of gold and then the bull case by 20-30
• 48:02
  would put it at 1.5 million. But like I said, she's increased
• 48:06
  this already. So if you want to see what the
• 48:09
  total total addressable market, you want to see what the total,
• 48:13
  what Bitcoin's full price potential is right now.
• 48:16
  As it currently stands, it'll be about 147 X compared to where we
• 48:22
  are right now. So again, I think we're just
• 48:25
  getting started. I think, you know, there's
• 48:28
  tremendous opportunity in front of us.
• 48:30
  I think nothing else is going to even give you a 10X with this
• 48:34
  type of certainty. So what if it's not 147 X?
• 48:38
  What if it's fifty X? What if it's 20X?
• 48:40
  That is completely life changing.
• 48:42
  So what I would say is stay humble, stack SATS, try to stay
• 48:47
  away from the altcoins. And they're, you know, short,
• 48:51
  you know, short term, you know, crazy, crazy gains in the short
• 48:55
  term. But again, no one knows you're
• 48:57
  essentially gambling. And that's not to say that you
• 48:59
  can't win in gambling. But what we're recommending,
• 49:03
  what we're pitching you is that, look, look, you don't have to
• 49:05
  gamble. I just laid it out for you,
• 49:08
  right? This is like, like, you know,
• 49:11
  it's going up forever, Laura, this thing is like certain type
• 49:14
  of thing, right? So that's what I have.
• 49:17
  That's what I laid out for you guys.
• 49:18
  I've been getting this question a lot and I want to do an
• 49:20
  episode on it anyways. Opti, what's your take on all
• 49:23
  this brother? Yeah, I mean, while you were
• 49:26
  saying all that, I just kept hearing Sailor repeated in my
• 49:29
  head The, the, the new sound bite of him.
• 49:32
  Like people who save in Fiat, we call them poor.
• 49:36
  And I, you know, I think you laid out a good example there.
• 49:39
  And I really like to kind of flip the script on people,
• 49:44
  'cause, you know, personally, I don't ever see a time where I
• 49:47
  think I'm going back to the Fiat system.
• 49:49
  Like, I can't foresee a future where I'm not going to ever not
• 49:53
  save in Bitcoin. It's like once you have a
• 49:55
  superior money, what are you going to be like?
• 49:57
  You're not going to save in worse money.
• 49:59
  It's what Gresham's Law, I believe it is.
• 50:01
  It's like you want to store value in the best money, period.
• 50:04
  And I even had this conversation Nico and Ronnie over the
• 50:08
  weekend. I got in an Uber and the the
• 50:11
  lady she like for for some reason we started talking about
• 50:15
  stocks and trading and then she brought up crypto.
• 50:18
  She's like I don't think I'm crazy but like I've been saving
• 50:21
  in crypto and I was kind of like Oh yeah, like what What do you
• 50:24
  own? And she's all saying like some
• 50:26
  bunch of shit coins and stuff and I just like very simply was
• 50:29
  like, no, I just save in Bitcoin.
• 50:31
  I just want to save in the best money.
• 50:32
  I know it's going to last the longest.
• 50:34
  It's going to go up in value and you know I I saw Kaiser on
• 50:38
  Twitter the other day, he was using the remember that there's
• 50:40
  like $450 trillion of a of addressable market that Bitcoin
• 50:44
  can hit. I know we have the number of
• 50:46
  like $900 trillion of addressable market.
• 50:49
  And just very simply if Bitcoin just takes some of that value,
• 50:53
  some percentage of that value like it's going up an incredible
• 50:56
  amount. And I just think that on the
• 51:00
  long enough time frame, not only will the world get more
• 51:04
  profitable, not only will the pie expand as we are saving in a
• 51:09
  money that doesn't leak value, people are going to start to
• 51:12
  understand that they want to store their value in Bitcoin.
• 51:14
  And so we're still in the very beginning of this.
• 51:17
  You know, I'm I'm not disillusioned anymore and the
• 51:20
  idea that people aren't going to hold anything but Bitcoin.
• 51:23
  But you can use the same playbook that the very wealthy
• 51:28
  in the world use and it's saving your value and assets.
• 51:32
  And Bitcoin is the best asset, the best performing ass in the
• 51:35
  last what, 10-15 years. Like Bitcoin is the most
• 51:42
  achievable asset for every people, every person out there
• 51:45
  to to get a hold of. Like you, you can buy a dollar
• 51:48
  bit or you can buy a penny of Bitcoin, obviously buy more
• 51:51
  Bitcoin. You want to stack Bitcoin, you
• 51:53
  want to hold Bitcoin for the long term.
• 51:55
  But I really just see this as it's a it's a 0 sum game.
• 51:58
  Like Bitcoin is going to take some value premiums out of all
• 52:03
  the other assets going to Bitcoin.
• 52:05
  And this game is just starting to begin.
• 52:07
  We're just starting to see the FOMO from everyday people.
• 52:10
  We're just starting to see the legitimacy of Bitcoin in the
• 52:13
  eyes of the average person and institutions.
• 52:16
  And I I still think that 70K is just stupidly undervalued right
• 52:20
  now. You know, we we can get stupidly
• 52:23
  bullish on the show. We're bull tart.
• 52:25
  I am bullet hearted as it gets and you know, 10 million by 2030
• 52:29
  sounds bearish to me. But hey, you know, what do I
• 52:32
  really know? All I know is that holding your
• 52:34
  value in something that cannot be debased is what I want to be
• 52:38
  doing. And that's what I'm going to be
• 52:40
  doing. And that's what I recommend and
• 52:41
  all my friends and family do. And of course, you know, you
• 52:44
  don't always have enough time to like fully do like a three hour
• 52:47
  rant on people, but you just start planting them seeds and as
• 52:50
  number goes up, people are going to chase the price.
• 52:52
  Even Satoshi said it himself. So, like, I think that Bitcoin
• 52:56
  is just incredibly undervalued, and that is my thesis here, that
• 53:00
  I will always store my value in Bitcoin and it's incredibly
• 53:04
  undervalued AT70K. Like, you want to be buying, you
• 53:07
  want to continue to buy. Don't just smash buy once,
• 53:10
  continue to buy consistently. And in time you're going to be
• 53:14
  happy that you did that your your future, you will will be
• 53:16
  very happy that you're saving in Bitcoin right now anyways.
• 53:20
  Nico, you killed it on that one. All right.
• 53:21
  Ronnie, what's your thoughts on this you're you're yeah I think
• 53:26
  you're muted. All right.
• 53:33
  Maybe maybe switch to your. There you are.
• 53:36
  There you are. Yeah, I totally agree with that.
• 53:38
  Very spot on. Low and slow is going to win the
• 53:40
  race. And math is sorry.
• 53:43
  Bitcoin is math. That number is going to go up by
• 53:48
  every day. Five cents, $0.10, whatever you
• 53:51
  have, low and slow, is going to win the race.
• 53:54
  It's like the turtle and the the hare, right?
• 53:56
  We all know that story and the turtle ends up winning.
• 54:00
  Just keep stacking, keep stacking.
• 54:03
  I keep. I'm watching the chat here.
• 54:05
  Like micro sailor says, if you have cash, have fun staying
• 54:08
  poor. It's other people have said it
• 54:11
  better than I have so can't go, can't go up against what's true
• 54:15
  tried and true fold Bitcoin. I mean these numbers are
• 54:18
  absolutely insane. I don't doubt any of it.
• 54:21
  I'm on board 100% filling on a living on a Bitcoin standard.
• 54:26
  So I recommend everybody continue to stack Sats and every
• 54:30
  moment that you can. Because these, these are the
• 54:33
  numbers, these are the facts and you know facts, these are the
• 54:36
  the the facts that are real. This is real media, these are
• 54:38
  real numbers. So use that to your advantage
• 54:41
  because the answer is there right in front of us.
• 54:43
  So let's take advantage of it. Let's not let others take
• 54:48
  advantage of us essentially, right A. 100% a hundred.
• 54:51
  Percent and the and the meme just popped up in my head.
• 54:53
  But you know, there there's no top to Bitcoin because there's
• 54:55
  no bottom to the amount of money they will print.
• 54:57
  So saving Bitcoin? Save in Bitcoin.
• 55:01
  Amen to that. All right, ladies and gentlemen,
• 55:03
  let's get to the culture. So we could talk about, we could
• 55:05
  talk with Ronnie about the Bitcoin hardware store.
• 55:08
  What is going on in El Salvador actually, are people using it as
• 55:11
  a medium of exchange. We still have a lot to Tucker.
• 55:14
  We still have a lot to to talk about on today's show.
• 55:17
  Let's get to the culture. Let's do.
• 55:19
  This It's Monday. It's Monday.
• 55:20
  It's Monday. We're starting strong.
• 55:22
  All right, let's do this. The Daily Culture.
• 55:33
  All right, ladies and gentlemen, I do want to give a very special
• 55:35
  shout out to our sponsor, Kaboom Racks.
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• 55:42
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  and gentlemen. All right, Opti.
• 56:14
  It's all yours, my friend. Let's go.
• 56:16
  All right, man. Super excited for this
• 56:18
  conversation. You know, one of the things we
• 56:20
  like to do that it's, it's one of our favorite things to do is
• 56:23
  have people on the ground in El Salvador or anywhere that
• 56:26
  Bitcoin is being adopted. And we have an example today
• 56:29
  with Ronnie. So let's, uh, you told me this
• 56:32
  before the show, before we were recording.
• 56:34
  Let's start with, UH, how long you've been in El Salvador, what
• 56:37
  you've seen. And then we'll talk about the
• 56:38
  Bitcoin hardware store. Cool.
• 56:40
  Yeah. Well, I've been here for just
• 56:43
  over three years now. I came from Canada, I was born
• 56:46
  in Canada. My family is Salvadoran.
• 56:49
  So for me, when I was looking to make a change in my life, El
• 56:52
  Salvador was an easy place for me to go.
• 56:54
  I'm a little bit familiar with it and I landed here in El
• 56:57
  Zante, man. Just I I can't describe how
• 57:01
  lucky I feel and privileged to me to have landed here.
• 57:05
  Got to meet some fantastic people, fantastic projects right
• 57:08
  here on in Bitcoin the Beach, because when I landed here, the
• 57:12
  project was just getting started and even from the very
• 57:15
  beginning, the people, the energy was just absolutely
• 57:19
  fantastic. So I ended up staying here, not
• 57:22
  really thinking that that's was going to be the case for me.
• 57:25
  And then now that I'm here, now that I've made this large change
• 57:28
  in my life, kind of just like Octi said, I couldn't.
• 57:31
  I can't fathom going back to a Fiat world at this point.
• 57:35
  I'm here living on Bitcoin beach, living on a Bitcoin
• 57:38
  standard and now running a Bitcoin business.
• 57:42
  I think this is the next step for me and wanting to help the
• 57:45
  ecosystem and really bring value to everything that you know,
• 57:48
  people who have brought value to me and really changed my life, I
• 57:51
  want to give that back. And so the Bitcoin hardware
• 57:53
  store is the way for me to to do that here in Asante, here in
• 57:56
  Asambalod, for for every anyone, really.
• 58:00
  Love it bro, Love it. OK, before we jump into the
• 58:02
  Bitcoin hardware store, let's touch on using Bitcoin as a
• 58:05
  medium of exchange and blowing all the big blockers minds that
• 58:08
  you are buying coffee with Bitcoin.
• 58:11
  That's misinformation. There's no way that's true.
• 58:14
  There's no way that's true. Man, you know what?
• 58:17
  I wish I had to sip my coffee right now.
• 58:19
  But it is true. We're using Bitcoin as a made of
• 58:22
  exchange literally every day. So when I see these threads on
• 58:27
  Twitter, I'm just like, what are you people talking about?
• 58:30
  And I get it though, you need to come here and experience it and
• 58:33
  really see it because I'll meet people who are been in on their
• 58:38
  Bitcoin journey and their journey has brought them here to
• 58:40
  somewhere though to see if what they're doing, if what's
• 58:43
  happening here is real. And they're like, well, I I've
• 58:46
  never spent any Bitcoin. I don't know what to do with it.
• 58:49
  And so and there's lots of questions that that people have
• 58:52
  in terms of what it's like to spend Bitcoin.
• 58:54
  But the first thing that they do and the first thing you have to
• 58:56
  do is you have to get yourself a really good lightning wallet.
• 58:59
  Once you have a good Lightning wallet, whether custodial or non
• 59:02
  custodial, I personally recommend Phoenix and you start
• 59:07
  interacting with people around you and everyone here in Zonte
• 59:10
  we have businesses that sell you food, businesses that will do
• 59:13
  massages. I got my hair braided with
• 59:14
  Bitcoin yesterday. I buy my coffee with Bitcoin,
• 59:18
  you know, get my hair well, I get my hair done and take surf
• 59:22
  lessons. You can do so many things with
• 59:24
  Bitcoin here in that I'm essentially living on a Bitcoin
• 59:28
  standard and that comes from buying a $1.00 bottle of water
• 59:32
  if I need to. If I'm in that situation, buying
• 59:35
  some coconut water. It's absolutely fantastic here
• 59:38
  and I wouldn't I I really don't know what people are talking
• 59:42
  about. They really need to come down to
• 59:43
  El Salvador and experience it. Let's go.
• 59:46
  Yeah, I was, uh, I was there, I don't know, 2020 2:00-ish or
• 59:50
  something. So I have one more question
• 59:51
  before we get into the details of hardware store.
• 59:54
  How has, uh, I guess, for lack of better terms, the adoption of
• 59:58
  Bitcoin improved since you've been there?
• 59:59
  I you're you're telling me you're using it every single
• 1:00:01
  day. So is the signal spreading?
• 1:00:04
  Are people waking up to using Bitcoin and not just like
• 1:00:07
  Bitcoin tourists? I guess would be the the
• 1:00:09
  nomenclature here, but what what's, uh what?
• 1:00:11
  Have you seen the progression in Bitcoin since you've been down
• 1:00:14
  there? Yeah, I've definitely seen it
• 1:00:17
  get better. I mean, to be quite honest with
• 1:00:19
  you, quite frank, at the very beginning it was a little tough.
• 1:00:22
  Some of the government enabled apps like Chivo weren't really
• 1:00:27
  working that well. People weren't trained on how to
• 1:00:29
  use these things very well. And so there's a lot of friction
• 1:00:32
  back in 2021-2022, but it's gotten a lot better, not to
• 1:00:36
  mention again, that we all know that today we're touching 70,000
• 1:00:39
  again. So even within the community,
• 1:00:41
  you have entrepreneurs and business owners who are seeing
• 1:00:44
  their neighbors succeed and who obviously competition within us
• 1:00:49
  as humans. We want to now figure out, well,
• 1:00:51
  why are they doing so much better?
• 1:00:52
  Why are these people going? Why do they have so many
• 1:00:55
  clientele? We're seeing it everywhere.
• 1:00:57
  More and more places are starting to accept Bitcoin.
• 1:01:00
  You know, you come down here and it might, there will be a number
• 1:01:03
  like 10% of merchants accept Bitcoin as a country, but it's
• 1:01:07
  fantastic. Where else in the world can you
• 1:01:09
  really say that? And it continues to grow and it
• 1:01:11
  continues to build. And the neighbors telling your
• 1:01:13
  your neighbor, The people within the community are telling each
• 1:01:16
  other within the community that this is how it works, this is
• 1:01:18
  how it should be spreading. You have Salvadorans teaching
• 1:01:21
  Salvadorans about Bitcoin. We're trying to do our part
• 1:01:23
  here. It feels fantastic.
• 1:01:26
  Guys, I'm excited to have you guys here for the having party
• 1:01:29
  because that energy is contagious and that's really
• 1:01:32
  what we're seeing within the Bitcoin space here and with
• 1:01:35
  hyper bitcoinization here and it's it's incredible.
• 1:01:38
  Love it. Absolutely love it.
• 1:01:39
  OK, let's talk about what you're working on, the Bitcoin
• 1:01:42
  hardware. So actually I want to make one
• 1:01:43
  comment. It's something I've noticed as
• 1:01:45
  well that once you become a bitcoiner and you save in
• 1:01:48
  Bitcoin, I I like to call it like entrepreneur money because
• 1:01:51
  it makes you think like an entrepreneur and you realize
• 1:01:54
  like, OK, what value can I add to bitcoiners or just my local
• 1:01:58
  community and and I just want to say you're doing it as well.
• 1:02:01
  I just love to see, yeah. Anyways, what is the Bitcoin
• 1:02:04
  hardware store? What are you guys working on?
• 1:02:06
  What do you guys offer? And and then also maybe you can
• 1:02:08
  plug where you're at exactly. Awesome, Yeah.
• 1:02:12
  The Bitcoin hardware store is a retail location here in
• 1:02:16
  Elizante, Bitcoin Beach, El Salvador, where we provide or
• 1:02:21
  have on showcase all sorts of different Bitcoin hardware.
• 1:02:25
  So we're talking mostly self custodial wallets, these these
• 1:02:29
  unhosted self custodial wallets, seed plates, mining equipment,
• 1:02:35
  little mining equipment. We have a lot of lightning
• 1:02:38
  products. So our store really is to help
• 1:02:40
  onboard people into self custody into Bitcoin, Bitcoin Lightning
• 1:02:44
  as well since it's what we use here in the Sevador and just
• 1:02:47
  help people feel comfortable with using Bitcoin layer one,
• 1:02:51
  Bitcoin core and and Bitcoin Lightning.
• 1:02:53
  So we want to have the correct tools which you can come into
• 1:02:56
  the store, you can use them, you can play with them in your
• 1:02:59
  hands. You know we have a couple of
• 1:03:01
  seed phrases that that have no Bitcoin in it but if they do you
• 1:03:04
  can, you know, it's up for grabs I guess And you you play with
• 1:03:08
  these products and we make you feel way more comfortable a
• 1:03:12
  hands on approach. We're here to answer any
• 1:03:14
  questions that might come that you have about Bitcoin.
• 1:03:17
  We have a fantastic K1 ATM machine as well that you can
• 1:03:22
  come in and and with your dirty Fiat come in up to $0.05, you
• 1:03:26
  know up to you said a penny. Ours doesn't take a penny, but
• 1:03:28
  with $0.05 you can buy some sats and you can really start
• 1:03:31
  stacking. So it's an experience for people
• 1:03:34
  to come see what bitcoins, some of the best Bitcoin products
• 1:03:37
  that are in the market and for people to come experience what
• 1:03:40
  Bitcoin is like here in. It's been an absolutely
• 1:03:43
  fantastic couple of months and working with a lot of
• 1:03:46
  entrepreneurs here in the area and if you need any help we we
• 1:03:50
  definitely would love to have anybody come visit us here in
• 1:03:53
  Insunted. Love it, love it.
• 1:03:55
  How's been like the foot traffic?
• 1:03:56
  Like people just like walking in and being curious.
• 1:03:59
  Like what's that? What's what?
• 1:04:00
  How's that process been? Yeah it's been fantastic.
• 1:04:04
  They you sometimes you get people that have you know bad
• 1:04:07
  experiences or or bad ideas of what Bitcoin is.
• 1:04:11
  People who are Bitcoin curious and they're coming in you know
• 1:04:14
  not really knowing what to do. Like I said they are interested
• 1:04:18
  in learning about Bitcoin. Micro payments using Lightning
• 1:04:22
  are curious about expanding their getting their Bitcoin off
• 1:04:25
  exchanges. Actually that's one of the the
• 1:04:27
  big things that we talk about as well.
• 1:04:29
  What is it to to self custody? My Bitcoin, Bitcoin nodes are
• 1:04:34
  people come in, they're like well what's a node?
• 1:04:35
  And just asking all these questions, I can't tell you how
• 1:04:39
  many. I'd say a couple times a day
• 1:04:41
  there's somebody outside taking either a picture like a selfie
• 1:04:44
  with the store or just stopping their car right in the middle of
• 1:04:47
  the road. Doesn't care about traffic
• 1:04:49
  taking a picture of the store. We've seen our picture show up
• 1:04:52
  kind of in places that I wouldn't expect.
• 1:04:55
  So it's been a really good reception.
• 1:04:57
  The traffic is Salvadorans and foreigners who are looking to
• 1:05:01
  experience Bitcoin. You know, the Salvadorans
• 1:05:03
  understand that we need to people are coming here to our
• 1:05:06
  country to learn to use this form of money, the best form of
• 1:05:10
  money. And so we have to learn how to
• 1:05:12
  use it as well. So we get Salvadorans coming in
• 1:05:15
  and asking us questions about what wallets they should be
• 1:05:17
  using, what POS systems they should be using.
• 1:05:19
  And then now what I'm seeing is people who started stacking
• 1:05:24
  Bitcoin, Salvadorans who started stacking Bitcoin even just a
• 1:05:27
  couple of months ago are now seeing their balance get bigger.
• 1:05:30
  And they're wondering, OK, now where do I store this?
• 1:05:33
  Because I remember last time you came in here, you told me this
• 1:05:35
  was a custody Bitcoin account. And so it's it's been absolutely
• 1:05:39
  fantastic the questions that we're getting which also makes
• 1:05:42
  me have to step up my game and the team here at the hardware
• 1:05:45
  store making sure that we stay on track of all the new
• 1:05:48
  developments in Bitcoin and and just make sure that we are
• 1:05:51
  giving the correct advice to people.
• 1:05:53
  Love it man. Love it.
• 1:05:54
  OK, one thing I did mention, Seed Center was on the last week
• 1:05:59
  and I forget what he was telling me, but you guys are going to be
• 1:06:02
  building some or doing workshops to teach people how to build
• 1:06:05
  them. Like so you guys are going to, I
• 1:06:08
  guess the question is what's the road map?
• 1:06:10
  Are you guys going to do workshops?
• 1:06:11
  Like what's the goals for the Bitcoin hardware store?
• 1:06:14
  Yeah, so shout out to the seat center project, it's probably
• 1:06:18
  one of the reasons that I'm here in this position.
• 1:06:21
  They did such a great job, free open source project, an
• 1:06:25
  absolutely wonderful tool. I actually have one on me.
• 1:06:28
  We we have seat centers. So we build seat centers here.
• 1:06:31
  We have all the the off the shelf parts that you would need
• 1:06:34
  to build the seat center yourself.
• 1:06:35
  We have a 3D printer at the store that we're running and and
• 1:06:38
  creating the cases so you can get a full experience by
• 1:06:41
  building it yourself. We can help you build it.
• 1:06:44
  You can buy individual parts for the SEAT signer.
• 1:06:46
  We have cold cards here on the store.
• 1:06:49
  We have a full line of coin Kite products from metal to the
• 1:06:52
  actual cold card itself. We have Foundation Passport
• 1:06:56
  devices and absolutely this is the one I get probably the most
• 1:06:59
  questions about at the store. They look at and they're like,
• 1:07:01
  what is this after? I literally just told them that
• 1:07:03
  I have four different signing devices in front of us.
• 1:07:06
  And then we have Blockstream, Jade, who's been, you know
• 1:07:09
  Blockstream's been a great supporter and just an OG of
• 1:07:12
  everything here in Alsante. So we give the the road map is
• 1:07:15
  to continue giving workshops maybe at a larger scale to teach
• 1:07:20
  people how to run their own nodes, operate their own nodes,
• 1:07:22
  give show them the options that are available running this.
• 1:07:26
  You know, again, this software, this system, the, the, the ethos
• 1:07:29
  of Bitcoin is so important and then Lightning as well.
• 1:07:32
  And ultimately we want to educate, you know, the whole
• 1:07:35
  country, anybody who's interested on Bitcoin and the
• 1:07:39
  tools to use and even how to run a business on a Bitcoin
• 1:07:43
  standard. Like we want to set the road
• 1:07:45
  map, we want to break all the all the rules that have been put
• 1:07:48
  in place, we want to break stuff.
• 1:07:50
  And so we're going to do a lot of research and development and
• 1:07:53
  just push, push, keep pushing forward and push the limits.
• 1:07:57
  I think that's kind of what the road map is right now.
• 1:08:00
  Absolutely love it. Absolutely love it.
• 1:08:02
  Well, awesome, Ronnie. Love to see what you guys are
• 1:08:04
  building. Last question for me and then
• 1:08:06
  you can chime in if you want, but what is the one message you
• 1:08:10
  wanna send to the audience? It could be about the Bitcoin
• 1:08:13
  hardware store. It could be about Bitcoin in
• 1:08:14
  general. What's the final two stats you
• 1:08:16
  wanna give to the people? I mean my final two stats would
• 1:08:20
  be to go with along with what Nico's been talking about the
• 1:08:23
  whole show. It's, you know stack those Sats
• 1:08:26
  low and slow, no need to gamble away, provide value and if you
• 1:08:31
  are certain in the value that you are providing, then be
• 1:08:34
  certain that we are on the right Rd.
• 1:08:36
  That's going to be honestly just to go along with with what the
• 1:08:40
  show is all about. I appreciate it.
• 1:08:43
  I I feel so hyped up after being on here.
• 1:08:45
  So thanks guys. Appreciate, appreciate you
• 1:08:48
  joining us man. And you know what you
• 1:08:49
  contributing to the to the space where you guys are contributing
• 1:08:53
  to the space is incredibly important and hopefully we have
• 1:08:56
  a Bitcoin hardware store in you know every single country around
• 1:09:02
  the world man. So keep fighting the good fight
• 1:09:05
  and we really appreciate you coming on today Ronnie.
• 1:09:08
  Why don't you tell everybody where they can find you on the
• 1:09:10
  interwebs? Yeah so on Twitter and on
• 1:09:14
  Instagram you can find us at TBHS under score SV and if you
• 1:09:19
  wanna reach out to the team directly you can go on our
• 1:09:22
  website. We are TBHS dot SV and you can
• 1:09:26
  e-mail us directly at hello at TBHS dot SV.
• 1:09:30
  Alright. So well, I appreciate you
• 1:09:32
  joining us, Ronnie. Thank you.
• 1:09:33
  Thank you so much. All right, guys, that was our
• 1:09:36
  show. Wait.
• 1:09:36
  Wait, wait, Nika, are we doing meme review?
• 1:09:39
  Yes, we are. We rugged.
• 1:09:42
  We rugged. We rugged everyone on Friday,
• 1:09:46
  'cause the show was running a bit long and we are gonna be
• 1:09:50
  doing the meme review. It is titled as Meme Review
• 1:09:53
  Fridays but. I haven't edited it yet.
• 1:09:56
  Whatever, whatever, whatever. Just play it.
• 1:09:58
  Just play it. Opti's meme review Mondays.
• 1:10:03
  Opti's Friday Meme Review. All right, guys, So hey, Yep,
• 1:10:13
  you already know the deal. This is a meme review where you
• 1:10:15
  guys send us memes in our Telegram group.
• 1:10:20
  Dude, you're failing at the songboard.
• 1:10:22
  Or tag us on Twitter at simply Bitcoin TV.
• 1:10:25
  We usually do this on Friday, but we ran really long on
• 1:10:27
  Friday. We're running a little long
• 1:10:28
  today anyways. I I was, I was pretty dead on
• 1:10:31
  Friday. Whatever.
• 1:10:31
  Whatever. Uh, these memes were for Friday,
• 1:10:34
  so some of them are kind of connected to the Friday show.
• 1:10:38
  But anyways, in his wallet, What the fuck I.
• 1:10:40
  Don't know. I don't know what's.
• 1:10:41
  Going on there. No, that's just his wallet.
• 1:10:43
  That's just the inside of the wallet anyways, anyways.
• 1:10:47
  Oh yeah. OK, I see what you mean.
• 1:10:50
  Tweets of the bullets made of the artillery.
• 1:10:52
  We are in the front lines of the information war.
• 1:10:55
  Continue to plant the seeds of freedom.
• 1:10:58
  Continue to spread the signal. Continue to onboard your
• 1:11:01
  friends. If you still have some normie
• 1:11:03
  friends, there's 8 billion people in the world and what it
• 1:11:06
  what? I don't know where we're at
• 1:11:08
  right now. We're probably like a million
• 1:11:09
  bitcoiners or whatever. So there's a lot of room to grow
• 1:11:11
  and there's a lot of people that need to be orange peeled, hence
• 1:11:14
  what Ronnie's working on at the hardware store.
• 1:11:17
  Anyways, this first one is by Salvatore Ingalla or Salvatoshi.
• 1:11:23
  I works at Ledger, I guess, but a big hoarder, and this is
• 1:11:27
  because of the Euronews. And so he goes, is my unhosted
• 1:11:31
  euro wallet illegal or not yet? And it's just a picture of a
• 1:11:34
  wallet with some dirty Fiat euros in it.
• 1:11:37
  Are they are they going to try to they're they're going to ban
• 1:11:40
  anonymous payments, right? Like, are they going to ban the?
• 1:11:42
  Euro, it's basically basically it like any transaction over
• 1:11:47
  €3000. She So.
• 1:11:50
  It. Can't it can't be quote UN quote
• 1:11:52
  anonymous? Anyways, this next meme is by
• 1:11:55
  our boy Greg Zaja. One and it's it's Nico and
• 1:11:58
  Sophie here with a little baby and it goes dollars are gold and
• 1:12:01
  then the baby has laser eyes. It goes Bitcoin and then it goes
• 1:12:04
  that's my boy or that's my girl. OK, next one sorry, it's loading
• 1:12:08
  up. We have Samson Mal AKA excelling
• 1:12:11
  on Twitter and he goes Bitcoin is going to add a zero.
• 1:12:13
  And we got the classic cat meme where the girl's yelling at the
• 1:12:16
  cat and the girl goes you said Bitcoin was going to zero and
• 1:12:20
  then the cat goes no, I said Bitcoin was going to add a zero.
• 1:12:24
  We are adding a zero. It's not going to 0I.
• 1:12:27
  Got to the person who put .0006 B.
• 1:12:30
  Yeah, exactly. But it's all about reframing the
• 1:12:33
  numbers here, reframing the numbers here.
• 1:12:35
  OK, next one is Ropium and he just goes hashtag Bitcoin and he
• 1:12:38
  got a picture here of Jesus. And he goes how I think I look,
• 1:12:41
  telling people Bitcoin will save the world.
• 1:12:43
  And then how I really look into Charlie Day connecting the dots.
• 1:12:46
  I swear we all feel this way. We're like, we're like we're
• 1:12:49
  saviors and then everyone's like, you're crazy.
• 1:12:52
  Well, if we weren't crazy then there wouldn't be an opportunity
• 1:12:55
  to stack as many sets as possible at the cheapest price
• 1:12:57
  possible and watching number go up.
• 1:12:59
  OK, this next one, the reason I wanted to bring this one on is
• 1:13:03
  because it is our meme world and everyone else is just living in
• 1:13:06
  it. And we got here James C Fart Sit
• 1:13:09
  C Fert. Steve Hart.
• 1:13:11
  Steve Hart. I don't know.
• 1:13:12
  He's the Bloomberg analyst over here and he's out here memeing
• 1:13:16
  bro. And yeah, Seifert.
• 1:13:18
  And he goes, I actually whispered in his ear right
• 1:13:21
  before this photo was taken. You have Jerome Powell here
• 1:13:23
  doing his announcement. And we have James here.
• 1:13:26
  Choose Rich. He's a Bloomberg analyst memeing
• 1:13:31
  with us using a legend. Memes.
• 1:13:34
  Absolutely. Legend.
• 1:13:35
  Absolute legend. Hilarious.
• 1:13:36
  OK, this next one is by McShane, AKA at McShane.
• 1:13:40
  Under score right on Twitter. And he goes, Fiat is money by
• 1:13:42
  mandate. Bitcoin is money by consensus.
• 1:13:45
  And we have a Pepe the Frog here with a Chad toy.
• 1:13:50
  A Chad Bitcoiner toy. And then we have the Wojack toy
• 1:13:54
  and it goes And then the soy Jack cried and said but Chad
• 1:13:58
  Bitcoin isn't backed by government.
• 1:14:00
  And Chad said yes, this is the way.
• 1:14:03
  Okay this last one. All right, guys, sometimes the
• 1:14:06
  memes I put on here, they're more like charts than memes.
• 1:14:10
  So this is one of those cases. But I think this is a a solid,
• 1:14:15
  solid visual. And hey, I'm a visual learner
• 1:14:17
  here. So we have Jonathan Newman.
• 1:14:19
  Let's see, he worked, Oh, fellow at Mises Institute.
• 1:14:23
  OK, cool. And he goes, look what happens
• 1:14:25
  when you add M2 to the money supply.
• 1:14:28
  All right, now I'm a I'm a little color blind here guys, so
• 1:14:31
  I think this line is the M2. And then I don't know what color
• 1:14:35
  is it, blue or purple? Let me let me do.
• 1:14:37
  This. Yeah, you do.
• 1:14:39
  OK. So the the the bottom line
• 1:14:41
  represents for audio listeners is basically a a fed chart
• 1:14:46
  right. But I think it's this is this is
• 1:14:47
  one of the smartest memes you've posed at Opti.
• 1:14:49
  I know, I'm big braining you guys.
• 1:14:51
  Essentially, it's a it's a meme provided.
• 1:14:54
  Sorry, it's it's a meme. Ha, it's a chart.
• 1:14:56
  It's a graph provided by the Fed.
• 1:14:58
  The bottom The bottom line represents the total net worth
• 1:15:02
  held by the bottom 50%, and the top green and red line represent
• 1:15:09
  the M2 and the net worth held by the top .1%.
• 1:15:15
  Now what's really, really interesting is that the the net
• 1:15:19
  worth of the top .1% directly correlates with the amount of
• 1:15:24
  money the with the money supply increasing.
• 1:15:27
  And the reason for that is very simple.
• 1:15:30
  Every time they print money to wealth redistribution mechanism
• 1:15:35
  from the lower and middle classes that don't have the
• 1:15:37
  means to to save in assets. Assets pump when they print
• 1:15:41
  money to the very, very wealthy that do have the means to save
• 1:15:45
  in assets and back to the government.
• 1:15:48
  So again, this isn't necessarily, this is nothing to
• 1:15:51
  do. You know, I've heard this many,
• 1:15:53
  many times, the rich get richer and the poor get poorer.
• 1:15:55
  That is not because of capitalism.
• 1:15:57
  That is not because of any other reason than the money being
• 1:16:01
  fundamentally broken. And this chart is a great
• 1:16:04
  representation of that. When they print money, they're
• 1:16:07
  literally making the rich richer on paper, not necessarily their
• 1:16:11
  purchasing power, and they're making everyone else who saves
• 1:16:15
  and earns and dollars poor, which happened to be the vast
• 1:16:19
  majority of society. This is why money printing is
• 1:16:22
  fundamentally evil, and this meme is a great representation
• 1:16:27
  of something that we've been talking about over the last
• 1:16:28
  couple months. Yes, and This is why you buy
• 1:16:32
  Bitcoin if. You buy Bitcoin.
• 1:16:38
  This does not apply to you. All right, so let's get to the
• 1:16:41
  meme scores guys. If this is your first Simply
• 1:16:43
  Bitcoin episode, First of all, welcome Smash that like button.
• 1:16:46
  Consider subscribing. Second of all, drop your meme
• 1:16:49
  score in the live chat and we will put it on the show while we
• 1:16:54
  rate the memes. So first I.
• 1:16:57
  Got one I'm. Ready.
• 1:16:58
  No wait wait. I'm I want to give it my meme
• 1:17:00
  score first. My meme score is optes UN
• 1:17:05
  updated browser. That's my meme score.
• 1:17:08
  Wow. OK, yeah, I don't update
• 1:17:10
  anything. How's everyone notice?
• 1:17:15
  Oh, it's not even finished. All right.
• 1:17:16
  Anyway. Anyway, my meme review score for
• 1:17:18
  today is a slice of green apple. Oh, invisible apple.
• 1:17:23
  Invisible apple. Visible apple.
• 1:17:25
  This is a key hack, so when you need to compensate on podcast,
• 1:17:31
  it keeps your salivary glands nice and cleanse so you don't
• 1:17:35
  sound like you're eating a bag of marbles.
• 1:17:37
  Interesting. Interesting.
• 1:17:38
  OK. Ronnie, what would you give
• 1:17:40
  those memes? My meme score is a steel plate
• 1:17:44
  with Get Your Bitcoin off exchanges, right?
• 1:17:47
  Now that's some bars. Let's go.
• 1:17:48
  Let's. Go.
• 1:17:51
  All right everyone, let's get to some of the meme scores. 1st
• 1:17:58
  meme score No optic. I think you missed one.
• 1:18:00
  Is that the? Is that the top one?
• 1:18:01
  I think that's the first one. No, this first one's this one.
• 1:18:05
  Rich BC Three Nico bedtime stories about the Overton
• 1:18:10
  window. That is hilarious.
• 1:18:12
  Keith. I give the memes BlackRock Seed,
• 1:18:15
  Words Stash and Brian Armstrong's.
• 1:18:17
  Desk. I love that.
• 1:18:18
  Episode. Utxo give the memes 6 drops of
• 1:18:22
  trakas 50 Ki don't know what. That is.
• 1:18:27
  I don't know Matt FRLI Rate the memes.
• 1:18:31
  We need more meme reviews. More.
• 1:18:32
  OK. Let's do 2 meme reviews this
• 1:18:37
  week. Yeah?
• 1:18:38
  Opti's Friday meme review will be back on Friday.
• 1:18:40
  Philip Russo, I give the memes. You ask and we shall.
• 1:18:44
  You ask and you shall receive. All right, he gives the memes
• 1:18:48
  Opti's cannonball at the having party.
• 1:18:51
  Oh my God, I always get. Tsunami incoming I always get.
• 1:18:54
  Worried when I hear party and Opti Elaine, Elaine stack,
• 1:18:58
  stack, stack your coin merely all day Ecstatically
• 1:19:01
  ecstatically ecstatically. Ecstatically.
• 1:19:03
  Bitcoins the only way. Elaine coming in with the fire.
• 1:19:07
  MG Smith 4I give the memes. Arizona greater than Texas OK
• 1:19:12
  getting spicy. I score the memes one simply
• 1:19:14
  Bitcoin hat and we got one score by Phil CI give the memes 78K.
• 1:19:20
  Income. Let's go local.
• 1:19:24
  TXI, give the memes Rodger ver. Middle Finger Scott Market Mike.
• 1:19:29
  Bitcoin is resurrected on Easter.
• 1:19:32
  All right, ladies and gentlemen, wait.
• 1:19:33
  Wait, wait, There's a there's a there's a couple more.
• 1:19:35
  There's a couple more. JH, I give the memes one Good
• 1:19:38
  Friday pump to Easter Monday pump.
• 1:19:40
  OK, I like it. And then Rumble.
• 1:19:43
  I got a few on Rumble. And then we'll.
• 1:19:44
  And then we'll rather this one. All right, so we got out of
• 1:19:46
  compliance meme score a fair value bond to post for a New
• 1:19:50
  York corrupted witch hunt. OK, I get political narwhal
• 1:19:53
  tacos. I give those memes 4 perfectly
• 1:19:56
  legal BTC while it's hosted by myself.
• 1:20:00
  Oof. Oof.
• 1:20:01
  OK, we got two more on YouTube. I give the memes No Arms Pirate
• 1:20:05
  Salute. And last one by Daniel Bitcoin
• 1:20:08
  Pez Dispenser. Oh, I would really, really,
• 1:20:11
  really want. I think those are things they
• 1:20:13
  they're. One of those Anyways, ladies and
• 1:20:16
  gentlemen, thank you so much for tuning into another episode of
• 1:20:18
  Simply Bitcoin Lives. I'm your host Nico this is our
• 1:20:20
  guest Ronnie from the Bitcoin hardware store A and El Salvador
• 1:20:24
  is my legendary Co host Optimus Fields.
• 1:20:25
  If you guys enjoyed the show, you know to do smash alike.
• 1:20:27
  But it Consider subscribing if you feel like we provided you
• 1:20:30
  value. But the number one thing you
• 1:20:31
  could do to help push the peaceful in Bitcoin revolution.
• 1:20:33
  Share Bitcoin content. Share Bitcoin culture.
• 1:20:35
  Share Bitcoin music. Share Bitcoin art.
• 1:20:37
  We must win over the culture. That's how we win the war.
• 1:20:40
  Anyways, ladies and gentlemen, love you all.
• 1:20:41
  Rodney, thank you so much for joining us.
• 1:20:43
  We really appreciate it guys. We'll see you tomorrow for a
• 1:20:46
  brand new episode of Simply Bitcoin Live.
• 1:20:52
  So it was brought to you by bitcoinwell.com, a Bitcoin only
• 1:20:55
  platform on a mission to enable financial independence.