Latest / Simply Bitcoin / Google Accepts Bitcoin for Payments!? | EP 610

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Google Accepts Bitcoin for Payments!? | EP 610 · Simply Bitcoin

0:28
Yo today is October 20. No October 31st 2022.
0:33
Happy Halloween, welcome to Simply Bitcoin live.
0:36
We are in number one source for the peaceful Bitcoin Revolution
0:39
recovery, breaking news. Culture and me Matic Warfare.
0:42
We will be your guide through the separation of money and
0:45
state today. We have a very special show.
0:47
Google basically admitting that they're going to accept Bitcoin
0:52
for payments for certain Services of theirs.
0:55
We're going to make the case why this once again, is Market
0:57
forces doing what Market forces always do.
1:00
Best the basically forced the hands of other players.
1:04
We saw something very similar with BlackRock allowing Me or
1:11
giving in giving access to their institutional investors to
1:15
bitcoin. We know that Larry Fink is not a
1:17
fan of Bitcoin. But why are they doing this?
1:19
Because they don't want to lose market share.
1:21
So once again, Bitcoins incentives are winning, and
1:25
that's why Bitcoin is going to win at the end of the day.
1:27
But before we start the show, I want to give a very special
1:30
shout-out to the always optimistic.
1:33
My legendary co-host. My live in truth.
1:35
How you doing Optimus Fields? What's up, Anika, what's that
1:38
world? Happy White.
1:40
Per day, happy Halloween, it's good to be here.
1:42
I'm wearing my, my Halloween costume because we are soldiers
1:46
for Satoshi and we are in this information War right now.
1:51
And this is why we show up every single day to spread the signal
1:55
ensure that people understand that Bitcoin is a solution.
1:58
So, you know, I'm happy to be here as me and Nico been saying
2:02
for a while. Man, we are just blessed to be
2:04
able to make Bitcoin content every single day.
2:06
Is that our career? So this is awesome.
2:08
And then of course today's daily ER, it is white paper day as I
2:11
said. So we're going to cover, you
2:13
know, the white paper and it's the 14th 14th anniversary since
2:18
its release. So we got it, you know.
2:21
I know there's new people in the fold so we're gonna you know,
2:24
talk about why it's so important.
2:25
I'll read a little bit of the abstract and read the original
2:29
email. So you know, we're just doing
2:31
this, we're just doing the things over here.
2:32
Doing Bitcoin things. All right, all right guys, let's
2:36
start the show. Let's do this.
2:38
Here we go. The Bitcoin numbers brought to
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Alright guys, so we're going to cover.
3:10
We're going to cover the, we're going to get into the details of
3:14
white paper day during the culture segment, don't worry.
3:17
But for the numbers, we're going to read this legendary email.
3:20
That's what we had planned today.
3:22
Let's check this out. This email stats started the
3:26
revolution, it was a simple email that started it all A
3:29
simple piece of text, happy 14th birthday to bitcoin, Bitcoin is
3:35
still a teenager. It's Young.
3:38
But look at how much it's changed your lives.
3:41
Like, how much has changed our lives?
3:43
It's already the legal tender of a nation-state actually two
3:46
Nations States. The Central African Republic and
3:49
El Salvador. Public companies are holding it
3:52
on its balance sheet. I'm talking about microstrategy,
3:54
I'm talking about Tesla, talking about Square so it's so young
4:01
it's it hasn't been around for Not that long and look at how
4:06
far it's come. This is just the very beginning
4:11
and why is that? It's because of Bitcoins
4:13
incentives. And it's because of Bitcoins
4:15
absolute scarcity. And as a species as Humanity, we
4:19
still don't understand what the consequences are of something
4:23
that has absolute scarcity, but the fact that it came from zero
4:28
to an all-time high of 69 thousand and less than 49 year,
4:32
I that percentage return Iron is absurd and no other company or
4:36
institution has ever been able to match something like that.
4:40
So this is just the beginning and this revolution is going to
4:45
change everything. The fact that you can store
4:48
millions billions and trillions of dollars in your mind by
4:51
memorizing. A simple seed, phrase 1224
4:53
words, and that allows you to go anywhere to where you are
4:57
treated best and also allows you to transact with anybody freely
5:02
fundamentally changes the A relationship between individuals
5:06
and the collective. When I mean Collective.
5:08
I mean governments. I mean, the mob, etc, etc.
5:11
So anyways, I'm going to read this.
5:15
Like I said, it's very, very consequential.
5:18
It's dated Satoshi Nakamoto Friday, October at 4 p.m.
5:25
Eastern Standard Time and on in 2008.
5:29
And I don't think it's a coincidence that this was
5:31
released on the heels of 2008-2009.
5:35
Financial crisis. So he goes on to say, I've been
5:38
working on a new electronic cash system.
5:40
That's fully peer-to-peer with no trusted third party.
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That's the key word. There.
5:44
The paper is available at UW dot Bitcoin dot org, slash Bitcoin
5:48
.pdf. The main properties double
5:51
spending is prevented with a peer-to-peer network.
5:54
No mint or trusted parties. Participants can be anonymous
5:57
new coins are made from hashcash style.
6:00
Perfect Works, shoutout, Adam back, the proof of work.
6:03
Look for new coin. Generation also Powers the
6:07
network to prevent double spending Bitcoin.
6:09
A peer-to-peer electronic system, abstract a purely
6:12
peer-to-peer version and of electronic cash would allow
6:15
online payments to be sent directly from one party to
6:18
another without the burdens of going through a financial
6:20
institution digital signatures provide part of the solution,
6:24
but the main benefits are lost. If a trusted party is still
6:27
required to prevent double spending.
6:29
We propose a solution to the double spending problem from
6:31
using pure using bye. Using a peer-to-peer Network the
6:36
network timestamp transactions by hashing them into an ongoing
6:39
chain of hash-based, proof-of-work forming a record
6:42
that cannot be changed without redoing the proof-of-work.
6:45
The launching not only serves as proof of the sequence of events
6:48
witness but proof that it came from the largest pool of CPU
6:51
power. As long as honest nodes control
6:54
the most CPU power on the network, they can generate the
6:57
longest chain and outpaced any attackers.
7:00
The network itself, requires a minimal structure, messages are
7:03
casted on a best effort basis and nodes can leave and rejoin
7:07
the network at will accepting the longest proof-of-work chain
7:11
as proof of what happened while they were gone.
7:15
Full paper Bitcoin dot org slash Bitcoin dot PDF Satoshi Nakamoto
7:21
absolutely his ski mail. The the email, the revolution
7:26
that started it all and there is a lot of sauce in that there's a
7:31
lot of things that he said that we're True.
7:34
It's, he designed this to be attack.
7:37
He you set, he said it right there, right?
7:41
And in terms of doubling down, tripling down on this idea that
7:45
it's peer-to-peer that there is no required intermediary.
7:49
And I think that's what a lot of you guys have to internalize
7:53
when you start to see more and more and more of this attacks
7:58
and this rhetoric from the treasury and central banks.
8:02
Remember, ladies and gentlemen Bitcoin disintermediated them,
8:06
it took the reason as to why they exist, it takes it away
8:12
intermediaries are no longer necessary and what they're
8:16
trying to do and they're going to try to use coercion to do
8:19
this and all the official stamps and the emblems and the suits is
8:24
that they're going to try to justify their existence in a
8:27
good analogy for, this is back in the day, they used to make
8:32
propaganda. As to why electricity wasn't
8:36
necessary as to why the horse and buggy would you know Will
8:40
Remain the most popular form of transportation rather than the
8:44
car, right? This is what happens when
8:46
radical Innovation, you know, gets introduced into into a
8:51
society. The difference here, the
8:53
fundamental difference those guys is that this is a
8:56
fundamental change because it is the separation of money and
9:00
state and the state gets a tremendous amount of power.
9:03
For not only being having the Monopoly on the issuance of
9:06
money but also having control on the intermediaries in the first
9:12
place. Basically, that allows them to
9:14
get to dictate, who is allowed to use money and who is not
9:18
allowed to use money, so don't get distracted by the noise.
9:22
Don't get distracted by the social attacks.
9:25
Remember why we are here? We are fighting because we
9:29
fundamentally believe that. No human being, no government.
9:33
No. Buddy should have the ability to
9:35
create money for free that everybody else has to work for.
9:40
Also second thing, nobody know, group of elite bureaucratic
9:44
politicians in Washington, d.c. should have the power to pick
9:48
and choose who is entitled to use money and who is not
9:52
entitled to use money. And this is why we are here.
9:55
We are all here. This is what it's all about.
9:59
Happy 14th birthday to the thing that fundamentally changed.
10:03
My life forever. Ever, I know it's changed opt.
10:05
He's life. I know it's changed.
10:07
A lot of your guys lives as well.
10:09
Happy 14th birthday to the honey badger Bitcoin.
10:14
Yeah man it's just it's it's absolutely amazing that 14 years
10:20
ago, an email was dropped that changed the world forever and
10:23
you know, just Chef's out to Satoshi.
10:25
If you're still, if you're still alive out there, I know you're
10:28
listening to Simply Bitcoin and we just we just hope that that
10:33
we continue to stay on the mission.
10:35
And and this is why we're going to cover it again on the culture
10:38
because I fundamentally think that sometimes we need to rehash
10:42
things. Ins and reread the white paper
10:44
here and there. So that we know why we're doing
10:47
what we're doing. But hey, Nico did the great
10:50
synopsis of what's going on here and man, it's just really
10:54
amazing that one paper can change the world like this and
10:58
we're only 14 years into this experiment and we've gone from
11:01
zero to 20 K and even farther and we will continue to go to
11:06
the Moon from here on out. So this is why we do what we do.
11:09
We are separating money from State and this Is just a
11:13
testament to, to why we do everything that we do, and it
11:17
doesn't even cover the whole vast majority of the, the vast
11:20
ecosystem that is Bitcoin. So, it's just, it's awesome to
11:24
celebrate this day with you guys, you know, being a Bitcoin
11:27
content creator. It's, it's just, it's just an
11:30
epic day. This is why we're going to go.
11:31
So, have you on the white paper today?
11:33
No, it's good. It's good to, we have to cover
11:35
this historic document. A lot of people get lost in the
11:38
sauce, they get distracted and they forget why we're really
11:42
here. What Bitcoin actually does, what
11:45
Bitcoin facilitates and what Bitcoin, what tools Bitcoin
11:49
gives the individual before Bitcoin, those tools never
11:53
existed before. And I think it's important to
11:55
cover that specially on this. Very special day Halloween and
12:00
also Bitcoins birthday. But anyways, before we do that,
12:04
let's get to the news. The Daily News brought to you by
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A bit box today. All right everybody, so here's
12:31
the big news today. Google partners with coinbase to
12:34
accept Bitcoin and shit, coin payments for cloud services.
12:38
Now really interesting. Why would they allow this?
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And again I'm going to make the case I believe is Market forces
12:45
so let's check it out. Google has announced that it
12:48
will partner with coinbase to drive web three Innovation now.
12:51
Web through three is a red herring.
12:54
It is centralized, there is no innovation and web three.
12:58
And then we get into the details as to why that is in a little
13:00
bit, including the use of crypto exchange to accept Bitcoin in
13:04
Chicago. And Men's for cloud services or
13:06
the that's the signal right there, right?
13:09
Is that Google cloud is now accepting payment services in
13:12
Bitcoin and now if more and more tech companies continue to
13:16
accept payments and Bitcoin we know Microsoft is one of them as
13:20
well. This is this is the game
13:22
changer, right? Because it gets people to start
13:24
asking questions, what is money, why am I being forced to use the
13:28
dollar? Why am I being forced to use the
13:30
euro? Now of course, you know, Google
13:32
down on being able to accept payments.
13:35
Or services and other shit coins like aetherium and Doge but I
13:40
believe Market serve Market forces at the end of the day are
13:44
going to pick the winner. Right?
13:46
And the winner in my band, my belief is the cryptocurrency
13:49
that is decentralized because it's the only cryptocurrency
13:52
that is going to a be able to withstand government coercion
13:56
government. The ability to resist the
14:00
government, the government's ability to co-opt it, right?
14:03
We know that, for example, the majority of Cerium, nodes and
14:06
validators are already sanctioning for the office of
14:09
foreign assets control. We've shown you the receipts
14:11
many times on this show. Anyways, the sound what the
14:14
announcement was made during Google's Cloud next conference
14:17
on Tuesday according to a CNN, BBC report users will be able to
14:21
pay for services using Bitcoin and shit coins from early 2003
14:26
and I believe more companies will follow now.
14:29
Here's a little little bit of signal and I thought this was
14:33
absolutely hilarious. This could explain why Google is
14:37
offering the people's ability to pay for their cloud services in
14:42
Bitcoin and shit coins. Why is that market forces the
14:45
same reason as to why Robin Hood PayPal, right all started
14:50
selling Bitcoin on their platforms.
14:53
Why? Because they saw the success of
14:55
cash app and they said, Hey, in order to maintain our market
14:59
share, we must offer these Bitcoin and chickens even though
15:05
they He didn't like them. And what's really interesting is
15:08
the move. The latest move by cash app
15:10
cache, app offered or enabled lightning payments for 40
15:14
million of its users. And what's really interesting
15:17
about that is that, that defeats a lot of the shit coin
15:20
narratives, right? You know that lightning is as
15:23
faster, it's quicker, right? And it's built on the most
15:26
secure chain, right? So I'm a big believer in Market
15:30
incentives and I think this is what Market insensitive a market
15:32
forces are doing in this case. So, check out the Headline of
15:35
this article, Google sites Bitcoin should coin winter as a
15:39
factor and it's quarter to revenue decline during the
15:42
latest earnings. Call from alphabet, the parent
15:45
company of Google cited. The pullback in the crypto
15:47
Market as an influencing factor in the decreasing advertising
15:50
revenues from Q2 2022. The company released its
15:53
earnings report for Q3 and October 25th, which detailed
15:56
that six percent increase in Revenue, totaling 69 billion as
15:59
compared to Q3 of 2021. The figure was was down slightly
16:03
from it's cute to Only two revenue of sixty, nine point
16:06
seven billion while the revenue from its Google service
16:09
divisions which include advertising earning showed an
16:12
increase of 50 8.8 billion to 61.3 being over the past year
16:16
the company noted that the Q2 Revenue was down
16:19
quarter-on-quarter and attributed to weakness, and
16:22
advertising spending coming from the financial and cryptocurrency
16:26
sectors. We quote, we did see a pullback
16:29
in spending by some advertisers in certain areas and search ads,
16:33
according to Phil shrines or Or the chief business Officer of
16:36
Google who spoke during alphabets earnings call.
16:39
For example in financial services, we saw a pullback and
16:43
insurance Loan mortgage and crypto subcategory.
16:46
So why is that interesting? Because think about it.
16:49
The industry is getting to such a size that now depending on the
16:55
current state of the Bitcoin and shit coin Market, its now having
16:59
a major influence on these giant corporations, right?
17:03
This is the size of the Sorry, this is where it's getting and
17:07
this is just with Bitcoin sitting at 300 billion market
17:13
cap. Imagine when Bitcoin hits the
17:15
market cap of gold the influence that it's going to have on these
17:20
public companies worldwide. This is just the beginning.
17:24
This is just the Rumblings, but if you guys were to take away
17:28
some signal from today, first of all Market forces first, Google
17:33
one of the, you know, one of the largest tech, Companies to offer
17:36
the ability for clients to pay for their cloud services and
17:40
Bitcoin and shit coins. And number two, is that Bitcoin
17:43
the Bitcoin market cap has reached such a size right?
17:47
That depending on the current state of the market it is now
17:51
affecting other companies other industries that are completely
17:54
separate to what, you know, what Bitcoin is right.
17:58
Anyways Opti. What are your thoughts?
18:00
And then we're going to get into just debunking the whole web
18:03
three narrative, awesome. Yeah, well I was just going to
18:06
start web 3 is trash but we'll save that for the for the back
18:09
end. I think, I mean, you hit the
18:11
nail on the head, you know, Google bending the knee to
18:13
Market forces. And we say this all the time
18:15
that Bitcoins incentives. Just stay winning and everyone
18:19
will bend the knee to bitcoin. Eventually people, what's the
18:22
Mema? People will get in Bitcoin at
18:24
the price that they deserve and I think we have seen this bear
18:30
market like the infrastructure, the amount of attention on
18:33
bitcoin. It's Nearly hit an all-time
18:36
high. And like you said, man, the the
18:39
fact that Google made this announcement blaming the bear
18:42
market for the revenue downturn. Like, that's a new flood line.
18:45
We haven't had yet, so we are definitely in the mainstream
18:49
Consciousness and everyone is betting the need to bitcoin.
18:53
And Bitcoin is forcing the narratives like they wouldn't be
18:55
talking about a lot of these narratives right now and request
18:58
and response to cryptocurrencies in the like like you know the
19:01
CBC announcement they want to be talking about Bitcoin or these
19:04
things, if Wasn't for Bitcoin. But on another note the shit
19:08
coins in this announcement or kind of a stain on this whole
19:11
thing. But hey we understand what's
19:13
going on in the market forces and Bitcoin is just forcing
19:17
their hand. And so everyone will bend the
19:19
knee to bitcoin eventually and again just my thinking is like I
19:23
just can't wait till the bull begins his run again because the
19:27
infrastructure being built out the attention that's been on
19:30
bitcoin all the media Fudd against Bitcoin.
19:33
It does seem like it's hitting all time high and it kind of
19:35
reminds me of that clip that we put out of town vaes where he
19:39
said this might be the worst bear market yet because of all
19:41
the attention because so many people are in the Bitcoin
19:46
industry and and like you said is affecting so many areas of
19:49
the of our world right now of our planet right now and it's
19:53
like Bitcoin is eating everything and Bitcoin is that
19:57
void and the black hole that all value will go to.
20:00
And so, it's just beautiful to see this happening in real time.
20:03
And it's honestly also, Areas that they're blaming the Bitcoin
20:07
down term for the fact that their, their revenues down to
20:10
me. I the irony isn't lost on on me
20:13
because they talked so much smack about Bitcoin and now
20:16
they're blaming us for them just not making as much money as you
20:20
know, Bitcoin, just stays winning and we can't ever not be
20:22
in the news. It's bullish.
20:25
Absolutely. And I just want to, you know,
20:28
pull to, because they mentioned or Google mentioned web, three
20:32
when they announced, they were making announcements that That
20:35
they're going to accept payments you know web three was part of
20:39
the reasoning behind that and Jack dorsey's.
20:41
The ex-ceo of Twitter, he quit Twitter to work on on bitcoin
20:46
full-time explains. Why web 3 is a red herring,
20:50
right? He says, you don't own web three
20:53
the VCS and their LPS do, it will never Escape their
20:57
incentives. It's all ultimately a
20:59
centralized entity with a different label know what you're
21:03
getting into and that, Let him to release the web five.
21:08
Remember guys, at the end of the day, if it's not decentralized,
21:12
it will be co-opted by powerful parties.
21:15
But remember that the fundamental difference in
21:18
Bitcoin and this is what makes it so unique and nothing ever
21:22
existed like it in history, right?
21:24
If I'm holding .01 Bitcoin, and Michael sailor is holding
21:29
130,000 Bitcoin. Michael sailor does not have
21:34
more Or influence over the Bitcoin Network, as
21:39
fundamentally different than etherium and that's how all
21:42
these web three projects work. They're really actually run by
21:47
the developers if it's not truly decentralized and only Bitcoin
21:53
is. Then it will be co-opted either
21:56
either by government or either by powerful corporations or
22:00
either by the people themselves that invented those web three
22:03
companies. Remember, this is why the Work
22:05
wars were so important. It was the most powerful mining
22:10
conglomerates in Bitcoin. Try to change the code to
22:15
benefit themselves, which would have led to more centralization
22:19
because they would have raised the node requirement to run.
22:23
They would have raised it higher, meaning less people
22:25
would have been able to afford to run nodes, right?
22:29
So again, if it's not decentralize it to distraction,
22:33
if we want to separate rate money from State truly, it needs
22:37
to have true decentralization that needs to be feature number
22:41
one and that feature etherium sacrificed in order to add all
22:47
the other BS which they never bring up the fact that the
22:49
etherium community has not brought up the fact That the
22:54
majority of aetherium. Validators are actively
22:57
censoring. For the office of foreign assets
22:59
control, a branch of the u.s. government.
23:01
The fact that they're quiet about that tells you everything
23:05
they need to know, guys, Swan said it best shit coiners, don't
23:10
care shooting Bitcoin in the back if it means they get their
23:14
Lambos. So you have to decide what side
23:18
you are on and on what side you were on as an individual, do you
23:22
really want to be on? On the side that wants a
23:24
separate money from State. Therefore, the ability to end
23:28
these endless Wars, these crazy government.
23:30
Programs is crazy tyrannical Behavior by governments, or do
23:36
you want to continue living in the world that we've been living
23:40
in for the last hundred, two hundred, thousands of years were
23:44
an elite few get to dictate the lives of everybody else.
23:49
Anyways, moving on to this last piece and I thought it was, I
23:53
thought it The newsworthy this happened.
23:56
It was like a week ago and we slightly cover.
23:59
We slightly covered it. We said that a 998 of 999
24:04
multisig. Basically, almost broke
24:07
lightning. We skimmed over, but we never
24:09
got into the details and I think it's important to get into the
24:12
details. So anyways, check it out, says
24:14
learning from the lnd bug that could have robbed robbed the
24:18
lightning Network on 2022, Baroque from B Matrix.
24:23
It in broadcasted a transaction to the main Bitcoin Network.
24:26
Spending a you T. XO with a transcript multisig.
24:29
With 198 of 999 threshold, this transaction had 998 individual
24:35
signatures in the witness field and was almost Point 1 MB inside
24:39
kind of hilariously reuse the exact same public key for every
24:43
one of the 999 participants in the multisig, the transaction
24:47
caused a massive disruption of the lightning Network by
24:50
exposing a bug in Ln, D, and B, TC E.
24:54
Why did this affect lnd? Given that many people run
24:57
Bitcoin core underneath their lndian students, it is because
25:00
lndu's has the same code btcd does to receive and process
25:04
blocks. So, even your Ln D node was
25:06
running on top of the Bitcoin core which have properly
25:09
validated the relevant block and not stalled.
25:12
Your lnd instance would have refused to accept that block and
25:15
stalled even though your main chain node, continuing continued
25:19
Progressive progressing properly.
25:21
Thankfully this issue was not A widely exploited.
25:24
But had this been discovered in the code base before, Barracks
25:28
transaction was pushed to the blockchain.
25:30
This kind of been intentionally exploited by Bad actors in a
25:33
very tactical way, an individual or a group of people could have
25:38
easily opened a large number of channels on the network and
25:41
swapped all that money in those channels back to themselves on
25:44
chain through a submarine swap, leaving all the funds in the
25:47
channel on the other side and then submitted a large Trapper
25:51
transaction. Like Baroque did a mean.
25:53
Lee closing out their channels using an outdated State.
25:56
I hope this is a wake-up to how important it is to ensure that
25:59
consensus. Validation checks are all in
26:02
sync with each other across all software in this space.
26:05
As without that synchronicity between everything, there isn't
26:09
actually a singular coherent, Bitcoin Network.
26:13
And look, this is why we say all the time Bitcoin lightning
26:18
Network Reckless man. Lighting that work.
26:21
The reality is in its current state.
26:22
It's Still in the experimental phase.
26:25
It's getting there. We've made a tremendous amount
26:27
of progress. There's an amazing amount of
26:29
lightning Network companies that are constantly Innovation,
26:33
constantly innovating, constantly.
26:35
Trying to improve the thing, improve the user experience.
26:38
I'm a big fan of the mud malt, the moon wallet, just because
26:41
it's like, you can send a Bitcoin transaction, you can
26:44
send the lightning transaction, it all hides it on the back end,
26:47
the user interface is clean, it's easy to use.
26:50
I use it as my like, it's like having money in a wallet, you
26:53
know? 100 bucks, whatever you know if
26:55
you lose it, no big deal but that you still have to remember,
26:59
you know, where the let the state of the lightning network
27:01
is and that it's vulnerable to these types of issues.
27:05
Now, the signal there though is that there was no vulnerability
27:08
on the main chain and that's what's important.
27:11
But, holy crap, man, that bug could have been bad bad for the
27:15
whole thing. What are your thoughts, Opti?
27:18
Well, first off, I want to kind of touch on the web three stuff,
27:21
guys. Web 3 is just like, The latest
27:23
buzzword like blockchain Ico defy smart contracts.
27:27
Like if you aren't aware of this then you know there there's
27:31
there's some some research you need to do but just don't fall
27:34
for the web three scam. Narratives that's going out
27:36
there as a Jack Dorsey himself said you know like it's just
27:40
backed by VC so that they can line their pockets.
27:42
Anyways moving on to the lnd stuff like you said man yeah
27:47
lightning is is the quintessential move fast and
27:50
break things. It's it's Reckless.
27:53
There and and it's crazy, you know, because I've been on
27:56
lightning since like 2018 and it does still seem like it's like
28:00
newborn Tech but it's been around for for four years now or
28:04
whatever and it's like it's crazy that they're still bugs
28:07
out there but I think just to be clear, you know, like the
28:09
lightning Network at large didn't break just lnd nodes.
28:13
And that implementation of lightning was basically broken
28:16
for a little bit, but they got a quick bug and I think this is
28:20
just a testament to all the developers out there that that
28:23
Were quick to catch this, unfortunately, that bug did go
28:26
through without anyone noticing. So, you know, who knows what
28:29
else is out there. But I think this is just like a
28:31
call to action for anyone out there that is also developer,
28:34
especially if you're a shit. Coined quote, unquote developer
28:38
come work on Lightning. Let's, let's like actually build
28:41
out a real payment Network so that we can actually get the
28:46
whole world using Bitcoin and actually change the world.
28:49
Like we say, we are doing, or at least better yet like.
28:53
You shit Corners are say you are doing and shit coin land, but I
28:57
mean, pretty crazy stuff, you know, hey experimenting on
29:01
lightning and breaking things of crazy stuff.
29:03
It was a that was a crazy day. Everyone was freaking out.
29:06
Who the fuck? Okay.
29:08
I'm sorry to curse guys 998 out of 999 multisig.
29:13
Who the hell does that right? But it's it but again bless
29:17
their heart because that was the only way doing some absurd, you
29:21
know, transaction like that too. Discover this type of bug, man,
29:25
but like, that's just really funny.
29:27
Anyways, have a message from yellow.
29:30
Don't Stop Believing. Hold on to that feeling.
29:35
That's right Guys, Don't Stop Believing Jato to that feeling.
29:38
Let's get to the culture. Let's do this.
29:43
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promo code, all caps, simply to get a major discount on your
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Pacific Bitcoin tickets guys. The conference isn't big enough
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for it to lose that homey feel but it's also not small either.
30:57
So you're a lot of these people, you're going to be able a lot of
31:00
your favorite bitcoiners. You're going to be able to
31:02
approach have conversations with them.
31:04
And also, if you want to be able to get a job in the industry
31:08
itself conferences are one of the best places to Go to so
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don't want to miss this conference specific Bitcoin,
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it's a nine days and or less lofty.
31:19
What do you have is this the original post?
31:21
Yeah, we got the original post. I'm not going to read the whole
31:24
thing because Nico kind of covered it.
31:25
But on Friday, October 31st at 2:00 10:00 eastern time in 2008
31:31
Satoshi dropped the Bitcoin email on the cryptography list
31:34
and he, you know, did the abstract and drop the white
31:37
paper. And again, guys, it's the 14th
31:40
anniversary census. It was dropped.
31:42
So I think, I think it's fitting for us to cover this stuff.
31:49
I you know I try to cover the white paper as much as possible
31:52
on this show because it's very very interesting and crazy to me
31:56
how many people haven't read the paper themselves or you know,
32:00
haven't done the Deep dive search.
32:01
So I'm just going to read, you know, the abstract a little bit.
32:04
I have some parts highlighted I have covered this in the past
32:07
but again, I think the, I think it's a testament to the
32:10
importance of reading the why? Paper and try to understand
32:13
everything that's going on in the white paper and why we do
32:15
what we do and why this is such an important Monumental day for
32:20
everyone out there. Of course, again, this is just
32:22
when you drop the white paper, this is, is this is not when
32:25
the, the actual Bitcoin software was released, but we got to
32:29
remember that before. Satoshi, even dropped the white
32:32
paper, he basically had the software almost completely
32:36
figured out. So it wasn't like he, you know,
32:38
did this in a, in a short time span and then Least the Bitcoin
32:42
Network to to, you know, the internet.
32:46
I forget what the quote actually is.
32:48
But so tell she said himself he's like before I even had the
32:52
white paper out before I released this to the world, I
32:54
had to make sure that I solved the problem and then the white
32:57
paper was released. So this paper wasn't just
33:00
written and then he had to go tinker and figure it out.
33:04
He had essentially most of the network already figured out by
33:07
this time, but anyways, let's get into some of this guy's
33:11
again. Bitcoin is peer-to-peer.
33:13
And as you can see the cover, the title is Bitcoin, a
33:15
peer-to-peer electronic cash system.
33:18
And I think it's very important that we we don't negate the the
33:22
idea of system. I know a lot of people on the
33:24
internet like to call Bitcoin the peer-to-peer electronic cash
33:27
but there's a very important word about using a peer-to-peer
33:31
electronic cash system because Bitcoin is software.
33:35
It's simply you know a messaging app that we are able to
33:38
communicate value over but it's a system.
33:41
A software that is a money network is the best Ledger in
33:46
the world. So anyways, abstract a purely
33:49
peer-to-peer version of electronic cash would allow
33:51
online payments to be sent directly from one party to
33:54
another without going through a financial institution digital
33:57
signatures provide part of the solution but the main benefits
34:00
are lost. If a trusted third party is
34:02
still required to prevent double spending and we propose a
34:05
solution to the double spending problem using a peer-to-peer
34:08
Network. Guys, there's so much sauce and
34:10
just that Set those sentences themselves.
34:14
First one guys you know, electronic cash that would allow
34:18
online payments to be sent directly from one party to
34:20
another without going through a financial system.
34:23
While gold can be considered a sound money itself.
34:26
You cannot send gold over the internet and this is one of the
34:30
fundamental utilities of Bitcoin is being able to send sound
34:34
money over the internet in 10 minutes settlement.
34:37
And this is, this is something that is a what a 10x or 100x.
34:41
Next Improvement on gold and why we believe that Bitcoin is the
34:46
best money. I know I just said it to
34:48
software but it is used as money and it is the best way to
34:52
interact in the digital world. It's a digital money for the
34:57
online world that we live in. But furthermore, you do not need
35:01
to trust anyone. And as we try to cover all the
35:04
time, the main problem in the world right now is all the trust
35:08
that we've allowed these financial institutions, whether
35:10
you have to trust your Think whether you have to trust
35:13
politicians, not to inflate your money.
35:15
The fundamental thing that Satoshi fix is the trust layer
35:19
because the powers that be the bureaucrats out there.
35:23
The central Bankers, they have abused our trust for hundreds of
35:26
years and Satoshi took that power back simply by releasing
35:32
the Bitcoin Network. We no longer have to trust these
35:34
institutions as a middleman to ensure that they are not messing
35:38
with the money. Now we have an algorithm as I
35:41
Saying the path Satoshi domesticated greed via an
35:45
algorithm no longer do we have to trust humans?
35:48
To not fiddle with the money, this is what the white paper
35:51
fundamentally showed the world. That look, I designed a system
35:55
that has taken humans out of the equation because as we've known
35:58
historically, as you can read history for yourself, anytime
36:02
there's humans between you and your money.
36:04
They will find a way to debase it and steal from you.
36:07
And this is just human human psychology if you have the power
36:11
with With power comes absolute responsibility.
36:14
While Satoshi took that power away from humans and now we no
36:18
longer have to trust humans with our money.
36:20
We have a software that ensures there will never be more than 21
36:24
million Bitcoins. And again I'm not going to go
36:26
fully into the white paper but the introduction card numbers on
36:32
the internet has come to reliably on financial
36:34
institutions. Serving as trusted third
36:36
parties, a process electronic payments while the system works
36:39
well enough for most transactions, it still suffers
36:41
From the inherent weakness of the trust-based model and
36:45
without the possibility of reversal the need for trust
36:47
spreads and Merchant must be wary of their customers hassling
36:51
them for more information than they would otherwise need and
36:53
these cost and payment uncertainties can be avoided in
36:56
person by using physical currency, but no mechanism
36:59
exists to make payments over a Communications Channel without a
37:02
trusted party. So what is needed is an
37:05
electronic payment system based on cryptographic proof instead
37:08
of trust allowing any to wailing parties to Act directly with
37:12
each other without the need for a trusted.
37:14
Third party transactions that are computationally impractical
37:17
to reverse or protect Sellers from fraud and routine.
37:20
Escrow mechanisms could easily be implemented to protect
37:23
buyers. In this paper, we propose a
37:25
solution to the double spending problem using a peer-to-peer
37:29
distributed Tam. Timestamp server to generate
37:32
computational proof of the chronological order of
37:35
transaction, guys, this introduction, if you don't
37:38
understand everything that's saying, I highly, Recommend that
37:42
you you deep dive this but I will do my best to try to break
37:45
this down for you guys. And as we said, you know,
37:48
Commerce on the internet, relies almost exclusively on a trusted
37:52
middleman. There's whether it's Visa,
37:53
whether it's Master card or PayPal hours l, or, you know,
37:57
whatever these payment payment apps that we use nowadays, you
38:00
have to trust the person in the middle.
38:03
And as we've shown for a while on the show, it's becoming very
38:06
obvious that these people are not to be trusted.
38:09
Not only, they're trying to put a new system on top of it as CB
38:14
DC system where they can control everything, you know, and, and
38:17
it's a wholesale throughout Society.
38:20
We already see that these institutions right now are, you
38:24
know, censoring people? Yeah, they're pushing people off
38:27
the network. If you don't have the right,
38:29
think they can cut you off from society.
38:31
But now we have Bitcoin and we no longer need to trust these
38:34
people. We no longer need them in the
38:36
middle of our money. I can transact with whoever I
38:39
want in the world if I want to and Is the beauty of Bitcoin,
38:43
not only that, but I no longer have to be debased, I no longer
38:47
have to deal with the status quo.
38:49
As we've been talking lately about having to be forced to use
38:53
a money that steals from you because now I can use the
38:56
internet to interact with anyone around the world as long as they
39:00
have a Bitcoin wallet and as we said you know we like Moon, I
39:04
just downloaded Phoenix on iOS. I'm a huge fan of blue wallet or
39:08
you can use you can use Bitcoin core if you want her Sparrow on
39:11
your Stop like you do not need to trust these institutions.
39:14
You do not need to go to big tech and as you know, big Tech
39:18
and Big Daddy government to hey, hey, please sir.
39:20
Can I use your app so that I can transact with people is like, no
39:23
download a Bitcoin wallet and transact with whoever you want.
39:27
It's a Communications Network, its software, no one can stop
39:31
software. This is a freedom of speech,
39:33
First Amendment issue here. Money is speech and I can
39:38
transact with whoever I want whenever I want, there is no.
39:41
No holidays on bitcoin. There's no weekends off like
39:44
your bank. Bitcoin is up, 24/7 365 days and
39:49
it doesn't, and it doesn't, it doesn't care who doesn't care,
39:52
who you are, where you're from, what your skin color is, where
39:55
you happen to be the morning and all the other systems do and one
39:59
way or the other, someone Liam crypto said, you gotta change
40:03
your name to Liam Bitcoin, bro. Number one.
40:04
But number two said, talk about PayPal, the PayPal example is
40:08
great, man. Look, they snuck that Back in
40:12
the language into their terms of service.
40:14
Basically saying yes we will find you if you say certain
40:18
types of misinformation which we are the ones who decide what
40:22
that misinformation is or not. Also the example of Kanye.
40:26
Yes, Kanye did say some very anti-semitic stuff that we
40:30
fundamentally do not agree with on this show.
40:33
However, man, that is very scary, that people are getting D
40:38
platform for their language and that's Very, very scary scary
40:43
world. And if you differentiate that
40:46
we've how Bitcoin functions, right?
40:49
Look the reality is Bitcoin is the money of enemies.
40:52
Meaning you have to be okay with someone that you fundamentally
40:56
do not agree with using the Bitcoin network.
41:01
Is that system? Perfect.
41:03
Are there going to be pros and cons to that system?
41:07
Yes. Or they're going to be pros and
41:08
cons to the centralized system. Yes, but I fundamentally believe
41:13
that the world would be a much much better place and an open
41:17
monetary Network world, then a world where a few bureaucratic
41:23
Elite Banker, Elites are getting to pick and choose who is
41:27
entitled to use money and who is not entitled to use money and
41:32
you as an individual have to make the decision.
41:35
What world do you want to live in?
41:37
And what world do you want your children and your ancestors and
41:40
your children? Children to live in Opti,
41:44
couldn't agree. More Nico, couldn't agree more.
41:46
And I just want to cover this last sentence here because I
41:49
think this is, this is an important thing that a lot of
41:52
people don't even understand what Bitcoin is solving.
41:55
And he goes in this paper, we propose a solution to the double
41:58
spending problem using a peer-to-peer distributed
42:01
timestamp server. So, first and foremost, guys,
42:04
the double spending problem. It's an economic problem where
42:08
if I send something on the Internet?
42:12
How do I know that I am not sending that thing again and
42:15
trying to defraud someone by using some funny money?
42:18
Well, this is what Bitcoin solves.
42:21
I send my, I send my Bitcoin across the world.
42:25
Well, if Bitcoin didn't work how it worked, then I'd have to
42:28
trust someone in the middle to ensure that I wasn't using that
42:32
same. You know that same dollar that
42:34
same you T XO to try to spend and use it somewhere else.
42:38
A second time. This is the double spending
42:40
problem, guys. And Again, the next point.
42:43
I know you've heard the saying, oh the Bitcoin is the
42:46
blockchain, the blockchain, the blockchain this but I love the
42:50
narrative on Twitter about people trying to change the Min
42:53
from blockchain to time chain because to tell she said it
42:56
himself using a peer-to-peer distributed timestamp server to
43:00
generate computational proof of the chronological order of
43:03
transactions. This is what the blockchain is
43:06
doing. It is a Time chain, it is
43:08
ensuring that we you know, it putting all the Ducks in the
43:11
row. As he said, the timestamp server
43:14
to generate computational proof of the chrononaut, chronological
43:17
order of transactions. This is what Bitcoin miners are
43:20
doing. They're basically Auditors out
43:22
there that ensuring the transactions are going and
43:24
sequential order. Hold on a second.
43:26
Hold on a second. It's the nodes that have the
43:29
copies. Okay.
43:30
Okay, okay. All of the nodes of the ones
43:32
that have the cup, which is, by the way, the why you guys should
43:37
run your own node, miners are no more than paid security.
43:41
Right. They're all guessing really fast
43:44
at the same time and if for someone to rewrite that chain,
43:49
right? They have to match the
43:50
computational power of the current hash rate which
43:54
continues to go exponentially higher.
43:57
Now to go back to that that part where you said a timestamp
44:02
server, right? That you could also equate that
44:04
to your own copy of a blockchain, if you don't run
44:08
your own Bitcoin node, your trust Ting to use.
44:12
Satoshis words. Someone else is copy of a
44:15
timestamp server. Minimize that trust have your
44:20
own copy of the Bitcoin blockchain.
44:23
That's constantly being updated as your server, or as your note,
44:27
as your Bitcoin node is connected to the internet
44:30
minimize that trust the more trust you minimize.
44:33
The more personal responsibility, you take back
44:36
into your hands, the more financial sovereignty, you take
44:40
back into your hands and a Out of the world's problems today is
44:44
because a lot of people are Outsourcing personal
44:48
responsibility either. That is the quest of information
44:52
or that is the personal responsibility of the storage of
44:55
their wealth. And both those institutions,
44:58
whether the Legacy mainstream Media, or whether their Banks
45:02
and governments have completely broken that trust.
45:07
There is no need to trust them anymore.
45:10
That's what the internet has. Has enabled us to do has enabled
45:13
us to completely circumvent, The Gatekeepers of information, talk
45:18
with Millions upon millions of people directly peer-to-peer.
45:22
And now Bitcoin has now given us the ability to transact, peer to
45:27
peer directly with those individuals.
45:30
Those intermediaries of information.
45:32
And those intermediate, intermediaries of money are no
45:36
longer necessary. They have broken the system,
45:40
they have abused. This system and what you're
45:42
going to see over the next 5-10 years is they're going to
45:46
justify their existence. In terms of misinformation, they
45:51
say only the experts are the fact Checkers.
45:54
Only the experts are, the ones that are going to give you the
45:56
right information. And in terms of money, you're
45:59
going to hear things like oh, on hosted wallet hosted wallet.
46:03
It's not real money. It can't be real money because
46:06
it's not backed by a government. Well, fuck you and your
46:10
government money because Has your government money?
46:12
Fundamentally fucking steals from me and Bitcoin does not
46:16
your government money wants to tell me who I am allowed to
46:20
transact with who I'm not allowed to transact with and
46:23
Bitcoin does not so shove your fucking government money where
46:28
the shunda where the sun doesn't shine because I don't want it
46:32
and I want you guys to wake up to this reality.
46:35
The power is now in your hands and you've never had this type
46:39
of power before. But Only if you take Bitcoin
46:43
into self custody and ideally run your own goddamn Bitcoin
46:48
known because if not, you're trusting someone else's Opti
46:55
perfect segue in because I wanted to show the Genesis block
46:58
guys, I know today is the white paper day, but remember what was
47:03
encoded in the Genesis block, the times. 03, January 2009,
47:07
Chancellor on the brink of second bailouts for banks and
47:10
this is Nico just ranted about. We no longer have to trust these
47:14
Banks to not debase our currency.
47:17
Satoshi, take that power away from these people and the only
47:21
way that we can ensure that is by you guys running nodes by you
47:24
guys taking Bitcoin into self custody, this is the revolution.
47:28
We tell you guys all the time, self custody is the revolution
47:32
you got to use Bitcoin properly. You need to use a Bitcoin
47:37
wallet, you don't use an exchange for your wallet you
47:39
know we've been talking about Moon.
47:41
Talking about Wallop Satoshi Breeze, Bitcoin core sparrows
47:45
Spectre, cold card, bit box, seed signer, these are the tools
47:49
you need to be using, you know, maybe think about using multisig
47:52
setup. But I really like this tweet by
47:55
the libertarian party and it goes to the Federal Reserve is
47:57
why your dollars are sinking in value every day and for 14
48:01
years, Bitcoin has helped us fight back and just to jump on
48:04
that. I said this morning, 14 years
48:06
ago today. So Toshi Nakamoto released a
48:08
Bitcoin white paper in the world changed forever ago.
48:11
Guys, we are no longer going back to the system where I have
48:14
to trust these middlemen to not debase our currency.
48:19
We've taken that out of their hands.
48:20
We have taken away the power of the money printer and we're just
48:24
here to try to spread that signal as much as possible.
48:27
So that people learn that the tools are here and that, we no
48:31
longer have to play this game anymore.
48:34
And as we drop this morning, shouts out to base.
48:37
Money Tech, I'm chilling, your article, bro, because we are
48:41
fundamentally, Until he fixing the base layer and that as he
48:44
said, the base layer is the faith layer and you guys can
48:47
read into it. But essentially what he's saying
48:49
guys is they have broken the Trust on the base layer and now
48:53
we are fixing. This guy's and again we don't
48:56
like to speculate but number has been going up since its
48:59
Inception. Xand number will continue to go
49:02
up. This is just a bear Market guys.
49:04
Do not fall for the flood Bitcoin works properly Bitcoin
49:08
is still going to all-time high and blocks Bitcoin is Been
49:11
running what the up time is 99.99% and it will continue to
49:16
stay up because Bitcoin is here for the future.
49:19
Bitcoin is for the children, and I'm just happy to be a bit
49:23
Corner, man. This is, this has been a awesome
49:26
14-year run. I've only been here for 55 years
49:29
of that time, but I am just excited to see this project this
49:33
experiment on monetary properties.
49:35
Play out for the next fourteen, fourteen hundred years.
49:38
If possible guys we are here. For the long run, lower your
49:42
time. Preference Bitcoin is changing
49:45
the world. And all you have to do is take
49:47
your Bitcoin in the self, custody shitpost with your
49:49
friends and spread the sound money gospel to everyone that
49:53
will listen because this is all we have to do guys.
49:56
We just have to show people that the Bitcoin network is here and
49:59
they have the tools, provide the value to your fellow man provide
50:01
your services for Bitcoin and just make sure your meat sack
50:06
makes it over the finish line of guys stay humble stack sets
50:11
anyway. And the future will be bright
50:12
orange for all of us for everyone from here on out.
50:15
Amen to that. Amen to that happy birthday
50:18
Bitcoin, you've changed my life. You've changed the lives of
50:21
millions and now you're giving this world hope because this
50:25
world has been in nihilism and darkness and that is caused by
50:30
the Broken money. That is constantly stealing from
50:34
everybody and governments are blaming the other political
50:38
party inside and they're not taking responsibility.
50:41
For something, they have caused in the first place.
50:45
Enough is enough. Now, we have a tool to opt out,
50:49
take our energy, our power, our time back into our own hands,
50:54
and there's nothing they could do about it, but that doesn't
50:56
mean they're not going to try. That doesn't mean they're not
50:59
going to blame Bitcoin, they're not going to blame, they're
51:03
going to say, Hey, you know, you're going to enable
51:05
terrorism. You're going to enable.
51:07
All of these things are going to throw all these Buzz words.
51:09
If you don't use a Hosted wallet.
51:12
If you don't use a kyc wallet, the world's going to burn down,
51:16
it's of the, the Bitcoin miners are going to boil the oceans.
51:19
It's all bullshit. They are scared because they can
51:23
no longer control you. They can no longer control
51:26
information, that's what the internet did and now they can no
51:30
longer control. You through money Opti calls him
51:34
heís, high-level parasites. I call a monetary demons, we are
51:37
winning and there's nothing they could do about it.
51:41
Back your financial sovereignty, guys.
51:45
Run your own Bitcoin node but let's get to the meat review.
51:48
Let's do it. The daily meme review, brought
51:53
to you by Cipher safe, don't be that person that loses their
51:57
Bitcoin seed. Due to fire damage water damage
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check out their new Bitcoin art the Bitcoin rulebooks triangle
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only on Cipher. Safe dot IO.
52:19
Let's go boys and So as you guys know, tweets are the bullets.
52:24
And memes are the artillery in this information War, you guys
52:27
are the Frontline soldiers. We need to ensure that the world
52:31
knows that Bitcoin fixes. The problem fix the money fix
52:34
the world. This is why we do what we do on
52:37
this 14th anniversary of the of the white paper.
52:40
We need to. I'm not going to say we anymore.
52:44
I'm trying to not say we anymore but ensure that you are
52:47
spreading the signal. Have you orange killed someone
52:50
today if not. Make sure you spread that signal
52:52
somewhere out there on this happy Halloween.
52:56
And this first one is by coin Corner, Molly, and I really
52:59
loved it. It's, you know, it's on brand,
53:01
it's Halloween. And she goes happy Halloween
53:04
hashtag Bitcoin and I really like her pumpkin.
53:08
It is vomiting. It's inside for Fiat.
53:11
Absolutely beautiful. I wish I was just created with
53:13
my pumpkin carving so shouts out to you Molly.
53:16
This next one is by row by and I honestly thought we were going
53:19
to cover this maybe we'll cover. Is tomorrow in the number
53:22
segment. There's a video out there of a
53:25
Chrissy Lagarde saying that she doesn't know where inflation
53:28
comes from tomorrow. Yeah, we're going to cover for
53:30
you guys tomorrow and goes, you know, some NPCs and because the
53:34
inflation came out of nowhere and then we got it just like,
53:37
you know she should put some laser eyes on here.
53:39
It's like major central banks have printed twenty five
53:42
trillion dollars since 2008. The MPC registers and it gets
53:46
mad, they do not want you to know the true reason for
53:50
inflation. And but we know the true reason
53:53
for inflation and I have the next thing I thought I had it in
53:55
order but apparently I unordered anyway.
53:58
This next one is by at me mean Bitcoin and I absolutely love
54:01
this meme right here goes how the media describes Bitcoin
54:04
users and they looks like a shadowy dark Bitcoin colder and
54:08
it goes actual Bitcoin users and it's just so you know I don't
54:12
know what I would call like a dorky dinosaur holding the coin.
54:16
Yeah but that plays out that plays out.
54:19
Anyways, this next one by Lena. See.
54:21
And she's absolutely killing of these.
54:23
Little hard liquor comic book memes and she goes, it just came
54:26
from nowhere again. Referencing the, Christine
54:28
Lagarde video that will cover tomorrow and it's a politician
54:32
Central bankers. And their ilk it's got the ECB
54:35
right here and it's just printing money and they're just
54:37
printing so much money so much money that they have overflowed
54:41
with dollars and inflation is skyrocketing and then the the
54:44
politicians and the Barrack bureaucrats and the bankers has,
54:47
how did this get here? Pretty sure it was already.
54:51
Like that before it just came out of nowhere.
54:53
It's probably Russia's fault. No.
54:56
The real reason for inflation is that they continue to spend more
54:59
money that they have because the money printer continues tuber
55:03
and they are debasing the currency.
55:05
This is where inflation come from this next one.
55:08
By the beach DC therapist and go skew Satoshi and it's it's the
55:13
classic Journal mean where there's a bunch of open urinals
55:15
and we got a Chad bit cleaner. Walking into the urinal and
55:19
instead of peeing on all these other, Urinals, he goes right
55:22
next to and he goes, you know, what day it is.
55:24
It's the 14th anniversary of the Bighorn, white paper.
55:27
You guys better be orange. Killing someone like this.
55:30
Today, it's an important holiday.
55:32
This, next one is by at bold Bitcoin.
55:34
And again, this is touching on the idea of where inflation
55:37
really come from 's and it goes hashtag.
55:39
Bitcoin is the solution and we got the symptoms over here on
55:42
the left side that goes grocery prices rising gas.
55:44
Prices were supposed to drop. They just keep Rising inflation.
55:48
Rising Energy prices. Could squeeze you as family's
55:50
house. House prices at seven times
55:52
average income as Supply dwindles further.
55:55
And then it goes the root cause and it is the Federal Reserve
55:58
System or central banks at large and the solution is Bitcoin,
56:03
guys. This is, this is what we try to
56:05
tell everyone. Consistently that the solution
56:08
is Bitcoin. We know what the problem is, it
56:10
is the fact that the government will continue to spend more
56:14
money than they create, then they have by creating the the
56:17
new money, you know, paper Ponzi that we like to call it.
56:21
And again, on this on this meme of Christine Lagarde saying we
56:25
don't know where inflation came from.
56:28
It's got all these Central bankers and it's the classic
56:32
like a Rothschild, me more, They're laughing.
56:34
And this is by RT B TC and he goes inflation Central bankers.
56:38
And then we told them that inflation came out of nowhere.
56:42
The real signal in this meme is the fact that people are biting
56:44
this this nonsense Hook Line and Sinker that we don't know where
56:48
inflation come from. That inflation is Transitory
56:52
that we don't know the root cause of inflation but is all
56:55
you Austrian economists know out there.
56:57
The root cause of inflation is the fact that they keep
57:00
expanding the money supply. They will continue to use money
57:03
printer Gober for as long as people trust in the system.
57:07
But as we are elaborating on this show today, it's been 14
57:11
years since the white paper came out.
57:14
And we no longer have to trust these people to not debase our
57:17
currency Bitcoin as agronomically in That human
57:21
greed can be checked, 21 million, hard cap.
57:25
This is the way guys, and it's only been 14 years into this
57:29
experiment. The only thing gold has on us is
57:32
it's time, it's time in the market but Bitcoin is proven
57:36
every day. Every 10 minute block that
57:39
Bitcoin is the best way to save your money.
57:41
Bitcoin is the best way to hold your value.
57:45
And now, in a digital world, we can continue to transact with
57:49
whoever we want over the internet.
57:51
Without a third party in the middle.
57:53
Absolutely, beautiful. Absolutely honored to be here on
57:55
this day. And for my monitor for my mean
57:58
review, score, guys. I am going to give my Army
58:02
jacket because we are in a monetary War.
58:06
We are in an information war in. As I like to say, we are in a
58:08
disinformation. Warn you guys are the Frontline
58:11
soldiers. So, for today for this
58:13
Halloween, I am a soldier of Satoshi.
58:17
I am a, I am a warrior in this empty.
58:21
World War 3. That is an information war and
58:24
we are on the front lines. Glad to have you guys all in my
58:26
trenches. We will continue to give you
58:28
guys a signal because the powers that be are going to continue to
58:32
try to ensure that they kill this beautiful thing known as
58:38
Bitcoin. So, for my my mean review scores
58:42
as, as it says, in the chat up these militant Bitcoin soldier,
58:46
Halloween costume. I'm going to give it this year.
58:51
Yellow. Oh, that's matching in.
58:52
Oh, okay. It's green screen Xbox
58:55
controller Isabel Xbox controller because I broke my
58:58
old one is they don't last very long because Fiat breaks
59:02
everything bad quality. Anyways, guys, this is simply
59:05
Bitcoin live. It's not about an hour scores,
59:08
it's about your scores. So rate, the score rate, the
59:11
memes in the chat, make Opti in 50 feet, make opting I feel
59:15
uncomfortable while we read them out.
59:17
There's one of these scores is really good.
59:19
Alright, here we go. The first Start popping them up,
59:22
Brandon says, I give those memes some freshly minted, whole
59:25
coiners during the 20 to 20, 20 to Bear Market.
59:28
Perfect, very nice. Next one by global nonsense.
59:32
I give those memes a Twitter HQ run by a team of failed shit.
59:36
Coiner very nice, very nice. Michael Morris and that's
59:40
specifically a chemical warfare protection.
59:43
Em OPP gear jacket. Oh now thank you, Michael.
59:46
Now we will knows. Michael knows, I thought it was
59:49
Desert Storm but hey when next one by rope Opti nose rope
59:54
reading those memes, opt, he's leaky kitchen ceiling confirmed,
1:00:00
is that? Is that why?
1:00:01
Okay, next one, we got the John flood.
1:00:07
I'm going to give a UK saber. I do very very nice.
1:00:11
Okay Leroy. Euphrates, score ad.
1:00:15
Googled phone running graphene OS.
1:00:18
Next one. Makuu Lou says score of the
1:00:22
entire Bitcoin white paper. Very nice.
1:00:27
I give those me. I give those memes my 1972.
1:00:32
Farrah Fawcett poster, Fawcett poster if you know you know oh
1:00:37
Opti nose of course I know. Farrah, Fawcett, Commodities,
1:00:41
militant bitcoiners score, Halloween costumes.
1:00:43
Score number one, special orange pulling session by rope sharing.
1:00:47
The same urinal as an army. Oh, Jesus.
1:00:51
All right. Z logic.
1:00:53
I give them memes the Lugano drone.
1:00:55
Bitcoin aerial light show, very nice, very nice, very nice.
1:00:58
All right, next one. All right, we're running out of
1:01:01
time. I give those memes a kilogram of
1:01:04
vitamin C. A couple seconds until the
1:01:08
buzzer. Our guy give the meme and
1:01:11
inflation RKO out of nowhere. We're out of time.
1:01:14
Thank you for coming to Simply Bitcoins being reviewed Live,
1:01:19
come back tomorrow. So you could give us memes to
1:01:21
review live. Speaking of memes review live,
1:01:23
you have to join. Simply Bitcoins telegram a
1:01:26
group, that's how you link us. Bitcoin memes to review, you
1:01:29
gotta go to www.ah.mil /, the simply Bitcoin channel.
1:01:34
It's absolutely free. You can link us Bitcoin memes to
1:01:37
review. There's over 600.
1:01:39
Toxic Bitcoin Max he's in there, drop in the sauce. 24/7 also
1:01:44
check out Simply Bitcoin unfiltered.
1:01:45
You got to go to www.simpleandsensational.com,
1:01:48
you'd is the written version of this show.
1:01:50
Shout out to our awesome writers.
1:01:52
Rustin Zach Paul. Why nicus drop in the sauce all
1:01:57
the time. It's freaking awesome pure
1:02:00
signal. Anyways guys, that was our show
1:02:02
Opti why don't you tell everybody where to find the
1:02:04
audio version of this show? Of course, of course guys.
1:02:07
Check us out on anchor Spotify app.
1:02:09
Ball and we are on Fallon. I do have one comment over here
1:02:15
from from fountain that we got over the weekend.
1:02:17
Let me get this for you guys. Can you see that Nico?
1:02:21
Yes, I can. Okay, so let me zoom in shouts
1:02:24
out to at jaf 2100 and he goes, thanks a lot for your advice.
1:02:29
Those people working in Visa, try to survive, but game over
1:02:32
for them, out to everyone, sending a sad.
1:02:36
So we got, you know, Clark, Ian rag. 3af Koz peel and Steve's
1:02:42
origin. He's Tara users, user 6 1777 and
1:02:47
I Satoshi with you. So I'll figure out exactly how
1:02:51
to get this to work. Like BTC sessions has, but in
1:02:57
the meantime I will just do screenshots and give you guys as
1:03:00
comment on the show. So shout-out to you guys.
1:03:03
We appreciate all the sad from the value for Value economy.
1:03:06
We love Fountain. And man again I'm just blessed
1:03:10
to be here. Super excited and man, I'm just
1:03:13
honored Nico that we could be here on this 14th anniversary of
1:03:17
the Bitcoin white paper and give you guys the signal.
1:03:19
Hell yeah, speaking of signal, you gotta get yourself some
1:03:23
militant merch like the decentralized Corp that corpse.
1:03:27
Like, the Audie is opt. He's wearing our this militant
1:03:32
camo represent. Hoodie.
1:03:34
Only, I'm representing TD.com, he's making simply make Bitcoin
1:03:38
merch. He's making When merge check out
1:03:40
the peaceful Bic Up Revolution merch as well.
1:03:44
Only on representing tv.com and you can take advantage of the
1:03:47
promo code simply Dash Bitcoin to get 10% off anything on the
1:03:52
store. Anyways guys, that was our show
1:03:55
if you enjoyed the show we really appreciate.
1:03:57
If you smash that like button, you consider subscribing, if you
1:04:00
think this content provides you value.
1:04:01
The number one thing you can do to push this peaceful Bitcoin
1:04:04
Revolution forward is share this video.
1:04:08
Share it. That's what YouTube.
1:04:09
Likes the most, you have Normie friends and PCs that are haven't
1:04:12
woken up to the truth about what's going on.
1:04:14
The money is stealing from them. Share this video.
1:04:17
In fact, share Bitcoin content from all the Bitcoin content.
1:04:20
Creators, get the truth out there, more people, taking self
1:04:24
custody, that's how we're in this revolution.
1:04:27
All right. Love you all will see you
1:04:28
tomorrow for brand new episode of Simply Bitcoin.
1:04:45
Which one's the best crypto asset will Bitcoins the best.