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Paper Bitcoin Price Scam EXPOSED | Why BTC Isn’t $1M Yet! | Simply Originals · Simply Bitcoin

• 0:00
  What the hell is going on? BlackRock, Michael Saylor
• 0:04
  Institutions and Wall Street are gobbling up billions of dollars
• 0:08
  in Bitcoin. Hundreds, thousands, hell 10s of
• 0:12
  thousands of Bitcoin are being bought every week.
• 0:15
  So how in the cloven hooves of Elizabeth Warren are we not at
• 0:20
  $1,000,000 right now? Everyone has beat around the
• 0:23
  Bush. Samson yesterday just said we
• 0:26
  should be at 200K right now. Michael Saylor said the the fact
• 0:30
  we're at these prices right now is a joke.
• 0:33
  So what is happening? Is Bitcoin's price being
• 0:35
  suppressed or is it a coiled spring on the verge of making
• 0:39
  Peter Schiff crap his pants? We're about to break it down and
• 0:42
  welcome back. I'm Rustin.
• 0:44
  Today we take down the Paper Bitcoin cabal and reveal how you
• 0:48
  can protect yourself from the Paper Bitcoin army.
• 0:55
  Now here come the ETF's. The SEC did one thing right and
• 1:00
  I praised them for it back then, which is that they prohibit in
• 1:05
  the prospectus is for the Bitcoin ETFs, the custodians
• 1:09
  from rehypothecating bitcoins. Now they don't have to publish
• 1:13
  their their reserves for proof of reserves.
• 1:16
  I wish they had gone that far, but at least there's a
• 1:19
  prohibition on rehypothecation. And, you know, frankly, I don't
• 1:23
  know how examined these entities are.
• 1:26
  I don't know whether they're actually complying with that
• 1:28
  rehypothecation prohibition. My fear is that they're not.
• 1:32
  But at least the SEC did that. They kept it so that those ETFs
• 1:38
  could not end up being massively rehypothecated at the base layer
• 1:44
  custody of the actual Bitcoin. The securities, the ETF units
• 1:49
  themselves are rehypothecated, you know, probably 20 times at
• 1:52
  this point because they're very liquid.
• 1:55
  So be careful, right? If you don't own actual base
• 1:58
  layer Bitcoin that you self custody in your own wallet, then
• 2:02
  you are you are you are you're exposed to this counterparty
• 2:07
  credit risk of your custodian not having the actual Bitcoin
• 2:10
  that they say they have. So then the next layer of of
• 2:15
  potential rehypothecators is just Wall Street firms.
• 2:18
  They have been prohibited by the Fed.
• 2:20
  Remember I said the Fed's still blocking the big banks.
• 2:22
  The big Wall Street firms are all big banks, not all of them,
• 2:25
  Cantor Fitzgerald is not, but, but most of them, you know,
• 2:28
  Goldman, Morgan City, JP Morgan, Bank of America, they are all
• 2:33
  Fed regulated and they can't hold Bitcoin on balance sheet
• 2:36
  yet. The moment they start to be able
• 2:38
  to hold Bitcoin on balance sheet, there's going to be a
• 2:41
  huge rehypothecation wave again. But then you asked me about the
• 2:44
  Bitcoin treasury companies. So far I have not seen that they
• 2:49
  are rehypothecating and and to be honest, in a lot of cases
• 2:54
  they're hardcore bitcoiners like us who understand that if you
• 2:59
  rehypothecate Bitcoin, all you're doing is recreating the
• 3:01
  problems of the existing system. And so they're they're not
• 3:06
  playing three card Monte so far. I'm not saying that I can attest
• 3:11
  to that. So do your own research, go look
• 3:13
  at the filings for every one of these companies and see if they
• 3:16
  commit not to rehypothecating. If any of them does, frankly,
• 3:20
  please put it out on Twitter because that's what happened
• 3:23
  with Block Fi and Celsius. People just reported on that.
• 3:27
  They, you know, people who were looking at their customer
• 3:29
  agreements were saying that they were rehypothecating.
• 3:34
  It was there in black and white. And so, you know, some argue
• 3:38
  that customers were warned about this.
• 3:40
  I look at it and say a lot of people, if you ask some random
• 3:43
  person on the street, what does rehypothecation mean, they would
• 3:46
  have no idea. And so if they were reading the
• 3:49
  prospectus, if they were bothering to read the
• 3:51
  prospectus, they wouldn't, if they saw all that, understand
• 3:54
  what it really means. But when you tell them what it
• 3:57
  really means, everyone is, you know, would just recoil in
• 4:00
  horror and say, are you kidding me?
• 4:01
  I'm giving someone money and they're turning around and
• 4:05
  lending it and might not have it when I want to and when I have
• 4:09
  the right to redeem it. But yes, that's what's that's
• 4:12
  what happened. So I would throw back to your
• 4:15
  viewers, if any of you know, if any of the Bitcoin treasury
• 4:18
  companies are rehypothecating, bring it out, go find it in the
• 4:22
  prospectuses With AI. It's a lot easier to find that
• 4:25
  kind of stuff now than it was in the past.
• 4:28
  Bring it out. Let's get out and and let's help
• 4:31
  each other learn and do the research on whether these
• 4:34
  companies actually have the Bitcoin that they say that they
• 4:37
  have. Nailed it.
• 4:38
  If you re hypothecate Bitcoin, all you're doing is recreating
• 4:42
  the problems of an existing system.
• 4:44
  Paper Bitcoin is the biggest scam no one's talking about.
• 4:47
  Is there such a thing as paper Bitcoin?
• 4:50
  Yes, and it's more dangerous than Janet Yellen with the
• 4:53
  machete tripping on mushrooms. You see, what you think is
• 4:57
  Bitcoin on an exchange might just be an IOU, a mirage.
• 5:02
  A number on a screen that vanishes faster than your
• 5:04
  savings in a Weimar Republic simulator.
• 5:07
  Let me break it down. What is paper Bitcoin?
• 5:10
  It's a claim to Bitcoin that isn't actually backed by
• 5:15
  Bitcoin. You think you own a Bitcoin, but
• 5:19
  so does the guy they lent it to and then the guy they re
• 5:22
  hypothecated that to. Only one of you can withdraw it.
• 5:26
  The others are holding phantom bags.
• 5:29
  Where does it come from? Centralized exchanges playing
• 5:32
  banker margin loans backed by nothing wrapped BTC without real
• 5:36
  time proof and cash settled derivatives.
• 5:39
  Looking at you CME sound familiar?
• 5:42
  It should mount G ox gone FTX 80,000 bitcoins short Celsius
• 5:48
  block fi. They ran fractional like it was
• 5:50
  2008. Billions in fake Bitcoin
• 5:54
  vaporized and all that paper. Bitcoin suppresses the real
• 5:58
  price. Fake coins flood the market,
• 6:00
  real demand gets absorbed and the price stays lower than it
• 6:04
  should. And when one of these exchanges
• 6:06
  blows up, the spot price tanks from panic.
• 6:10
  And then it rips as the fake supply evaporates.
• 6:13
  Volatility, contagion, carnage. And let's be real, tons of
• 6:17
  people are still holding IOU's, still trusting third parties,
• 6:21
  still thinking the number on a screen is real.
• 6:25
  Ask yourself, do you actually have your Bitcoin or are you
• 6:30
  holding a digital receipt for satoshi dust that doesn't exist?
• 6:34
  If you don't know the answer, pull it now.
• 6:37
  Withdraw, verify, self custody. Because here's the ugly truth
• 6:42
  paper Bitcoin is just Fiat with extra steps.
• 6:45
  Fractional reserves risk inflation.
• 6:47
  The same game we're we're trying to escape.
• 6:50
  Bitcoin was built to end the system, not to repeat it.
• 6:54
  So act like it. Don't trust, verify, don't wait.
• 6:57
  Withdraw Pump your own bed bags, not black rocks and other
• 7:00
  people's paper. Bitcoin treasury bags.
• 7:03
  Bitcoin treasury companies are buying.
• 7:09
  Are you sure about that? We've just added Bitcoin to our
• 7:15
  balance sheet. Shouldn't the price be up by
• 7:21
  now? The Ogs must be selling, right?
• 7:27
  Breaking we bought. 1000 BTC. It's.
• 7:38
  Happening. Good news is Bitcoins, a liquid
• 8:21
  supply is absolutely mooning. More and more Bitcoin is moving
• 8:25
  into cold storage. It's going to be a lot harder to
• 8:27
  suppress the price if there's less available to sell.
• 8:31
  And a game changing move has been made, hopefully setting the
• 8:34
  stage for all the other ETFs to follow suit.
• 8:37
  But breaking news, Fidelity has moved to allow in kind
• 8:40
  redemptions and this is a major step in fighting paper Bitcoin.
• 8:44
  There are two key ways to fight and mitigate paper Bitcoin
• 8:47
  witchcraft, and that's by ETFs Allow in kind redemptions and
• 8:51
  individuals taking self custody of their Bitcoin.
• 8:55
  Run the exchanges. All right, you're ready to
• 8:58
  withdraw. But here's the next question.
• 9:00
  Where are you sending it? Because if you're tossing your
• 9:03
  corn back into some hot wallet or mobile app with a 6 digit pin
• 9:07
  and 0 backups, you're not self custody.
• 9:10
  You're self deluded. This is the cold card key with
• 9:13
  the hardware wallet built by bit corners for bit corners.
• 9:16
  No BS, no spyware, and no VC. Funny, full keyboard, air gapped
• 9:21
  NFC for fast secure signing. And yeah, it's built like a damn
• 9:25
  tank. It's like the Cold War nuke
• 9:26
  shelter for your sets. What's up plebs?
• 9:29
  I just got myself a cold card about to level up as a
• 9:32
  bitcoiner. Don't forget not your keys.
• 9:35
  Not your coin. Don't trust some glassy fintech
• 9:38
  toy with your generational wealth.
• 9:40
  Use a tool that Satoshi would salute.
• 9:42
  Get yours at coldcard.com, or better yet, work with the pros
• 9:46
  thebitcoinway.com. Your sovereign setup concee
• 9:49
  years. They'll walk you through multi
• 9:51
  sig secure backups and setting up cold card the right way.
• 9:54
  Even if you're starting from scratch, whether you're a pleb
• 9:57
  stacking for the first time or you're managing 6 figure stacks,
• 10:01
  they've got your back. They speak your language and
• 10:03
  they'll help you sleep well at night.
• 10:05
  No excuses. Cold card queue in hand, the
• 10:07
  Bitcoin way in your corner. Now go secure the bag.
• 10:11
  And now, regardless of whatever paper Bitcoin games are being
• 10:14
  played, A reckoning is coming. The orange man just took a trip
• 10:18
  to the Fed, and we're going to need verification of Jpow's
• 10:21
  kneecaps being intact later. And all of these massive moves
• 10:24
  signal one thing. They're gearing up for something
• 10:27
  big. There is a supply shock.
• 10:28
  The amount of bitcoins traded open be traded compared to how
• 10:33
  much have been held by by by long term holders, How much is
• 10:36
  available? Is.
• 10:38
  It's nothing. So really it won't require that
• 10:41
  much for it to move drastically up.
• 10:44
  But there is because given it's, it's completely open free market
• 10:51
  that even with regulations around the world trying to
• 10:53
  impose on it, it's nothing. It won't, it won't stop doing
• 10:56
  what it's doing. People are able to control the
• 10:59
  market to some extent. So maybe that's what's acting
• 11:02
  on, that's what acted on the 2021 market.
• 11:04
  That's what suppressed it's price from from jumping too high
• 11:07
  up. I think that it could, we could
• 11:09
  get that again in in 2000 and 2025.
• 11:12
  But I think that there will be one, one point where it will run
• 11:15
  away. It will it has to run away.
• 11:18
  You can't you know, nothing's you can't control can't control
• 11:21
  it forever. So you will get maybe Samsung
• 11:24
  Maus Omega candle and you will get a green, green candle that's
• 11:29
  just going to destroy all everything.
• 11:32
  But I'm I'm remaining cautious and I'm going to say that yeah,
• 11:35
  I don't know when that's going to happen.
• 11:36
  I'm going to say hopefully it will happen at some point.
• 11:39
  But I'm very happy that, you know, that the weather prices
• 11:42
  today and I think it's just going to continue growing.
• 11:44
  And even if it means that that, that Bitcoin doesn't rise like
• 11:48
  it did in the past, but continues rising, that's how
• 11:51
  Bitcoin was intended with designed to do that.
• 11:53
  It's, it's, it's deflationary money and it's always going to
• 11:56
  rise. Your your, your value is always
• 11:57
  going to rise over time. It's also incredible how many
• 12:00
  smart people can't grasp the importance of a denominator that
• 12:04
  doesn't move. Winter is cancelled.
• 12:07
  Do you understand? Self custody your Bitcoin and
• 12:10
  run for the hills. Because she's gonna.
• 12:12
  Blow. How do you expect the asset to
• 12:15
  continue a price increase at these levels that we've seen?
• 12:20
  I mean, can it keep that up over the next five years, over the
• 12:23
  next 10 years? And at what point do we see, you
• 12:27
  know, winter coming again, because that's been a a
• 12:31
  permanent fixture of of this asset class, right?
• 12:35
  It's gone from 0 or 1000 to 20 and then back down to three or
• 12:41
  four and then up to 50 and then back down to 15 and now up to
• 12:45
  110. Like when does it drop again?
• 12:48
  Winners not coming back, we're past that.
• 12:52
  We're past that phase. If bitcoins not going to 0, it's
• 12:55
  going to $1,000,000 and you have all the evidence you need to
• 12:59
  determine that, right? The president of the United
• 13:01
  States has determined he supports Bitcoin.
• 13:03
  The cabinet supports Bitcoin. Scott Pesson supports Bitcoin.
• 13:08
  Paul Atkins has shown himself to be an enthusiastic believer of
• 13:12
  Bitcoin and digital assets. Ken Tez at CFTC feels the same.
• 13:16
  Ray, the the banks are going to custody Bitcoin.
• 13:21
  Bitcoin is has gotten through its riskiest period.
• 13:25
  The accounting has been corrected.
• 13:28
  There's now only 450 Bitcoin a day available for Sale by
• 13:31
  natural sellers. That's the miners.
• 13:34
  At this level, that works out to about $50 million of Bitcoin
• 13:37
  available for sale every day. If that $50 million is bought,
• 13:42
  then the price has got to move up to find any natural, any any
• 13:45
  seller that's price sensitive. Now, if you do the math, you'll
• 13:49
  actually see the Bitcoin treasury companies by themselves
• 13:52
  are buying the entire natural supply.
• 13:55
  BlackRock and the ETFs are buying another measure of that.
• 14:01
  And we've got nation state actors coming into the space.
• 14:04
  So I think when Bitcoin rallies to if it surges to 500,000 or
• 14:10
  $1,000,000, then maybe we could talk about it crashing down by a
• 14:14
  $200,000 a coin. But at the current price levels,
• 14:18
  it only takes $50,000,000 to turn the entire drive shaft of
• 14:22
  the crypto economy. One turn and you've got the
• 14:25
  Trump Media Organization announcing 2 1/2 billion.
• 14:29
  You've got GameStop announcing 500 million.
• 14:31
  You've got my company that's raising billions and billions of
• 14:35
  dollars. So the writing is on the wall.
• 14:38
  Own Bitcoin, don't buy someone else Bitcoin.
• 14:40
  And what the fuck is an M NAV? Don't be a dumbass.
• 14:44
  Measure your wealth in sense we don't wear suits.
• 14:49
  Well, some of us do, and if we do, we show up like Mudvane at
• 14:52
  the MTV awards back in the day. It's like I'm casual, but I'm
• 14:56
  still here to party. See you at 1,000,000 and I'll
• 14:58
  see you Mining Disrupt 2025. This is going to be absolutely
• 15:02
  wild. The biggest Bitcoin mining
• 15:03
  conference and Expo in the world is heading to Dallas, TX
• 15:06
  November 11th through the 13th breaking.
• 15:09
  We've got Dennis Porter, Samson Mao, and Lawrence Leopard and
• 15:12
  count countless others ready to send it.
• 15:15
  Mining Disrupt is where the Bitcoin mining elite converged.
• 15:18
  Deals are made, innovations unveiled, and the future is
• 15:21
  forged. If you're serious about mining,
• 15:23
  you can't afford to miss this one.
• 15:24
  Be there or be left behind. Grab those tickets today and
• 15:27
  come see Simply Bitcoin on the news desk.
• 15:30
  Oh, and don't forget to use promo code simply Bitcoin for
• 15:33
  20% off. They hope you guys enjoyed this
• 15:35
  one. Don't forget to like, subscribe
• 15:37
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• 15:40
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• 15:43
  daily Love you guys catch you on Monday.
• 15:46
  Peace if you prefer to go down with the ship.