Latest / Simply Bitcoin / Europe is One Step Closer to Banning Bitcoin | EP 520

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Europe is One Step Closer to Banning Bitcoin | EP 520 · Simply Bitcoin

0:04
Welcome back everyone. We're simply Bitcoin.
0:06
We break down the news. The daily fail mean review.
0:09
Software releases Hardware, releases and the plebiscites
0:13
joining us today. Sponsor of the show return guest
0:18
owner of represent, clothing, LTD, I am talking about David
0:23
David. What's up my, dude?
0:24
Thank you very much for joining us.
0:26
Thanks for having me back. It's always a pleasure and an
0:28
honor to be on simply big boy. I'll men before the honors ours.
0:32
Okay, you know where we're going Nico.
0:34
Its number time, let's do it. My friend brought to you by
0:37
noddle. They make some of the best
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Bitcoin notes like the not a one run, your own version of Bitcoin
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Guys, if you don't run your own Bitcoin note, they're using
0:49
someone else's. So get yourself a novel today,
0:52
not all dot-eu at the time of this recording, the block height
0:54
is 740. 3064 the Bitcoin price 18,000 790, Rewrite days 827
1:03
that that number is going up, Nico again.
1:05
Anyways, total public lightning capacity 3990 2.67 Moscow.
1:12
Time 53, 16 blocks that I have and in 96 1936 and the samurai
1:18
Whirlpool, unspent capacity, Samurai Whirlpool is a coin or
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collaborative spend. It is not a mixing service, the
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unspent capacity for that pool is 4816 Dot.
1:29
BTC. The numbers dude.
1:36
Bitcoin is a new stable coin 20K.
1:39
Anyways, we're going to react to a video today.
1:42
It is by a British politician named Matt Hancock.
1:47
He was clearly asked about Bitcoin and interview, it's
1:51
about a two-minute video. I haven't watched the whole
1:54
thing but I watched the beginning.
1:55
I thought you guys would find it useful.
1:57
Let's watch it and then we'll talk about it.
2:00
Ways, let's go. We call shuts it down.
2:02
We shouldn't just sit down and all that would do is drive
2:05
people abroad. And, you know, we've seen this,
2:08
we've seen a market correction in crypto and we've seen some
2:12
big crypto players go bust. And for the people who see that
2:17
and therefore say this is this is over, or this is wrong, they
2:23
are completely deluded. That's a bit like seeing the.com
2:27
crash and saying, oh, the internet is no use.
2:29
Use it is, you know, the that the technology, the blockchain
2:34
technology that underpins crypto is here to stay.
2:38
It's going to revolutionize how many Industries work it will.
2:43
It will transform Finance over the next decade.
2:47
And if we're not there, it will simply happen elsewhere, and you
2:52
can already see that, you know, by now that's one of the big
2:54
exchanges decided to make it European headquarters in.
3:00
Harris not in London. Now, London has been the global
3:06
Center outside of the United States and certainly the
3:08
European Centre for finance. And if we if we decide that we
3:12
don't, you know, we don't like the look of this thing.
3:14
So we're going to let Emmanuel macron, have it.
3:16
I mean, honestly, you know what, this is how we interrupt that.
3:20
I mean has, there is danger already know the place.
3:22
Hasn't bought it at all got such strengths here.
3:25
But, you know, for people to look at her minor Market,
3:28
correction, see a couple of companies go Us and say, well,
3:30
I'm not sure that would be completely wrong and and I'm
3:35
glad to say that the feedback I've had from the from the
3:39
powers that be is that they're not going to be put off by that.
3:41
In fact, I think a couple of companies going bust and it not
3:44
bringing the system down is a signal of strength of a market,
3:48
not of weakness. All right.
3:51
So a couple things but I wanted to focus on the aspect that he
3:57
touched upon, right? He said Is not going to go away
4:01
and if we don't accept it here, it's gonna go somewhere else.
4:05
And that's a theme that I want you guys to keep in your mat and
4:09
your minds throughout the show because I'm going to touch upon
4:12
it again. Because there are some very big
4:14
news out of Europe, which by the way to give us some credit to
4:17
toot our own horn. If you're a subscriber simply
4:21
Bitcoin, it will not come as a surprise to you, because we have
4:24
been covering this. How nation-states are in this
4:27
bargaining phase and part of that?
4:29
Bargaining phase, losing the power.
4:32
They once had because they were able to control the monetary
4:36
policy and have a monopoly that a monopoly on the currency that
4:41
their citizens were using, think about it.
4:43
It was a lot harder for a traditional exchange back in the
4:49
day to be located, someplace else other than London because
4:53
London at one point, the UK was the global Reserve currency the
4:56
pound, right? So it makes sense, right?
4:59
But now with Bitcoin is what I always tell you.
5:02
But coin gives you two things, right?
5:05
It gives you the power to vote with your feet and also your
5:09
wallet. You're going to go where you are
5:12
treated best. And a lot of governments have
5:16
not come to terms that at some come to terms with that.
5:20
You see that with the New York law, right?
5:24
Yeah, great. Bitcoin miners is especially
5:28
after what happened today. We're going to get to that in
5:30
the news, they're going to get up and they're going to go where
5:34
they're treated best, so really changes again.
5:38
What I always say, it changes the relationship between the
5:42
individual and the state and this was predicted back in 1997,
5:48
in the book that I recommend every Bitcoin or to read the
5:51
sovereign individual. So yeah, man, it's crazy seeing
5:56
that theory play out before our eyes and Never made me so
6:00
bullish, even. We're living through some dark
6:02
times. It's never made me.
6:04
So bullish about the future. Anyways, David, what are your
6:08
thoughts on this Member of Parliament?
6:12
I don't know if I believe him because he said crypto, he's
6:14
definitely trying to get some votes but I definitely think he
6:18
understands the situation though, I'll give him that.
6:21
Yeah, I'm always leery about these politicians that are using
6:24
crypto or especially ones are using Bitcoin and then
6:26
subverting it into like crypto and like blockchain at the End
6:30
of the day. It's not crypto is not
6:32
blockchain, it's Bitcoin and that's what has to be
6:34
emphasized. That that's what we have to
6:35
develop. It sounds like what they want to
6:38
do is use these Bud word Buzz words of like crypto and
6:41
blockchain and then Dyke subverted into their own kind of
6:45
coin or whatever they're going to want to do in the future.
6:47
So it's kind of concerning in a way but it's also like, you
6:50
know, it's hopeful that one of these politicians going to, you
6:53
know, pick up Bitcoin and take it.
6:56
Absolutely. And I think we're starting to
6:57
see the I think this is the beginning.
6:59
Of the fight between Fiat politics, Bitcoin, politics.
7:04
We're starting to see it right. We've had a couple Bitcoin
7:06
politicians on the show. Now, Tim back sir, we had the
7:12
she should we had a Miami for Bueno Martha, bro.
7:15
I know she's running for office in Miami and we had a candidate
7:19
from Nevada. So, anyways, Jane, there you go,
7:23
Phil, we know, we know, we know, Jane, Jane, I wish I was gonna
7:27
say, I've seen her I've seen her pop into the The decentralized
7:30
spaces a few times. I was like, I could for her Jane
7:33
Addams. That's it Jana.
7:34
Yeah. We grilled it pretty well.
7:37
Ha ha ha, like everyone should. Yeah.
7:42
That's the beauty of Bitcoin. Phil, what are your thoughts on
7:48
some thoughts? Some thoughts or politician mr.
7:52
Hi mr. Hancock mr.
7:54
Hancock. Well look, you know, I to Dave's
7:59
points. Right?
8:00
You get because I hate, I hate painting with a broad brush, but
8:04
the politicians at the end of the day.
8:06
Their narrative is they want to get as many votes as possible.
8:09
They want to get as much support as possible.
8:11
So, unfortunately in most cases you can you can only trust them
8:18
so much that being said, that being said, going back to
8:21
David's point about the whole crypto and blockchain.
8:24
Look, it just irks me every single time it's like, you know,
8:28
they'll start off and being like No.
8:30
You know we can't stop Bitcoin and blockchain is here to stay.
8:33
No you'd like right there. You can see.
8:36
They started to scratch the surface but they just didn't dig
8:40
deep enough because once you actually understand why Bitcoin
8:46
then you understand why it's not blockchain anybody and
8:51
especially like look this is kind of, you know, like those
8:53
people who tout being very technical and they're like this
8:56
is why I understand that crypto makes sense you could be using
8:59
This is a super power to realize why crypto and blockchain makes
9:04
no sense in actual use. Okay?
9:08
No one needs a slower database. No one needs.
9:12
A third party to add a security hole for their data.
9:17
Okay, I worked. I I actually worked in
9:20
troubleshooting and setting up the API for civics for the
9:24
company that I worked for. We never use the token.
9:28
All we did was all All we did was have a connection to a third
9:32
party with a database that contained customer data.
9:37
So token, nobody was using this shit, okay?
9:40
It's a scam, I asked Phil what he thought about the
9:44
politicians. He got it to shit coins.
9:46
He, this is, this is how much Phil Phil breeds.
9:49
He thinks he wakes up and he's thinking fails.
9:52
That's the first thing. He thinks about it.
9:54
The morning. Sorry, Miko.
9:55
But but look what he said was really look what he said was
9:58
great. I think he's on the right.
10:00
I just think he just needs to subtract the grip toe in the
10:02
watching, like David said, he needs to talk to you and Corey.
10:05
He needs. He needs to sit bitch and
10:07
between you and Cory on a five hour plane ride.
10:11
That's what he needs to do for God when he doesn't want.
10:14
Even though I'm still exactly when he doesn't hear the poor
10:17
anymore, he turns to you. And then you're just looking at
10:19
him with your glasses. It's great, but but then after
10:22
he does that, okay? He gets off the flight.
10:24
Then he goes sits in the decentralized spaces.
10:27
Okay? Starts crying the entire time,
10:29
but Ways I was getting beat up anyway so it's time for the
10:33
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10:55
Big Win For Freedom. We actually reported on this
10:59
yesterday. But this is the follow-up.
11:02
We thought it was going to be ruled yesterday, but it was
11:04
ruled today. The Supreme Court rules 623
11:08
limits the epa's ability to restrict power plant emissions.
11:12
Now, I know a lot of you guys are thinking, especially if you
11:14
didn't watch the episode yesterday, what the hell does
11:16
this have to do with Bitcoin? I'll get to it in a sec
11:20
Washington, the Supreme Court on Thursday limited, the epa's
11:23
environmental ability to regulate carbon emissions from
11:26
power plants. Dealing a blow to the B
11:28
administration's effort to address Address climate change.
11:32
I'm going to get to that in a second.
11:34
The ruling appeared to curtail the agency's ability to regulate
11:36
the energy sector. Limiting it to measures, like
11:39
emissions controls that individual power plants unless
11:41
contrary Congress acts, Bingo ruling out more ambitious,
11:46
approaches like a cap and trade system at a time when experts
11:50
are issuing, increasingly dire warnings about the quickening
11:53
pace of global warming. Okay, so I want you guys to pay
11:58
attention to the framing from that Legacy Media article,
12:01
right? It didn't give both
12:03
perspectives. I gave one perspective, the
12:07
Court ruled. This now the world is going to
12:09
burn. Yeah.
12:12
So what does this have to do with Bitcoin?
12:15
If you're new, to the show, we dedicate a lot of time to to
12:21
attacks on bitcoin that are happening.
12:25
The more loud attack the noisy. Attack is attacking Bitcoins
12:30
proof-of-work. Its energy usage for
12:33
environmental reasons. We'd like to believe has nothing
12:35
to do with the environment. We get into, we got into a lot
12:39
of that. Yesterday, the second attack I'm
12:43
going to get to in the second part of the news, but this is a
12:47
big win. The reason that it's a big win
12:49
is it's taking power away from an unelected government
12:53
bureaucracy, part of the administrative state.
12:56
And its Giving it to individual states, to get to decide how
13:01
they produce and how they use energy.
13:04
This is good for Bitcoin mining because Bitcoin mining.
13:07
At the end of the day is very energy intensive.
13:09
So think about it. If you have an unelected
13:11
bureaucracy bureaucracy getting to have that much power over
13:15
energy, that's definitely going to be used as a tool to attack
13:19
Bitcoin mining. Like it has been in China.
13:21
Like it what like they attempted to do in Europe and in Norway.
13:25
Europe's part of Norway. Norway is part of your The
13:29
Norway example. I always repeat.
13:31
I'm not going to say I repeat I said it yesterday so tune into
13:34
that episode. Why Norway?
13:35
But getting back to the point this is extremely bullish for
13:39
Bitcoin mining because now With this decision, essentially, if
13:46
they ban Bitcoin mining New York state, which they had the, the
13:49
governor has to sign it. She's waiting for after the
13:51
midterms and Washington state where they're taxing it.
13:55
Now, those Bitcoin miners are going to get up and go where
14:00
they're treated best now, think about what we were just talking
14:03
about during the number section, but what that British politician
14:06
said? So, I want you guys to remember
14:08
that theme, right? That Bitcoin allows you to go
14:13
where you're treated. That's only if you take self
14:15
custody, though. So it is definitely a very
14:18
exciting future big win for Bitcoin miners in the United
14:23
States, Big Win For Freedom. David, what are your thoughts?
14:28
It's hard for me to kind of like, go too.
14:29
Deep into the big one - stuff. I don't, I'm not too familiar
14:32
with, like all the EPA and all that stuff.
14:35
So I don't have too much to say on it.
14:38
What I mean? Well, Phil, I was just gonna say
14:41
that. That's all good.
14:42
You know what I mean? Like, And unfortunately, when it
14:45
comes to topics like this, it does definitely, you know, kind
14:48
of go into the weeds a bit right between between the politics and
14:53
the messaging and whatnot. But at the end of the day, I
14:56
think that for us as bitcoiners, obviously, like Nico said, it's
15:00
a great thing, but I think that it was somehow unexpected in
15:05
terms of the core in terms of the corporate media, I feel like
15:09
people were expecting that. The the government was gonna
15:12
side with the EPA or spit. And they did it.
15:15
Yeah. So the crazy thing is like the
15:19
my knee is kind of pushy more towards like Renewables and or
15:22
like, you know, efficient more like I mean, I've heard people
15:25
like money off of like gases and stuff like that.
15:27
Like there's it's pushing technology even further in the
15:30
energy sector and I think that's something that we need.
15:33
You make a you made a fabulous Point David and like exactly.
15:37
It's pushing its incentivizing. The, the development of
15:42
renewable energies without Out having to rely on government
15:45
subsidy but you're still having a lot of pushback, right?
15:50
So it begs the question, is it really about government subsidy
15:54
or is it more so about control? And this is why I always bring
15:57
up Norway, I'm going to bring it up again, okay, and Norway, what
16:01
we saw is certain political parties, they attempted to ban
16:05
Bitcoin mining for environmental reasons, right?
16:09
But 100 we know for a fact that 100% of the power That power is
16:14
Bitcoin. Mining in Norway comes from
16:16
renewable energies. So if it's a hundred percent
16:19
comes from renewable energies, they're still trying to buy it
16:22
for environmental reasons. It begs the question, maybe
16:25
they're using the environment as a smokescreen for more Sinister
16:29
intentions, right? And look at the framing from
16:33
mainstream Media or Legacy Legacy mainstream media.
16:36
Better said, they're just treating it.
16:39
Like the world's going to end the plan is going to burn
16:43
because Because of this decision, it doesn't give the
16:45
other perspective. The other perspective was not
16:48
mentioned in that article, that is absolutely crazy.
16:53
Anyways, so a more developments from Europe.
16:58
Remember what I said? In the beginning though guys
17:01
that Bitcoin gives you the power to vote with your wallet but
17:07
also more importantly, your feet.
17:09
So this law is very short-sighted and I think it's I
17:13
have a lot of under unintended consequences, they're not
17:17
really. See, this is a thread, it's from
17:20
Ernest, hoost on and he essentially talks about what
17:25
we've been covering, we've been warning, you this guy's was
17:28
going to come and essentially this is the infamous European
17:31
anti-money laundering rules that are being applied to crypto
17:36
mind. You, these laws are going to be
17:39
a framework for other countries. Let's check out this blue.
17:43
Mark Bloomberg article gets into the details.
17:46
Ueu moves closer to strict anti anti money, laundering rules on
17:50
crypto, the European Parliament and Council reached a
17:52
provisional agreement to force crypto providers to provide
17:55
identifying information on All Digital asset transactions.
17:59
Despite an industry backlash. Remember what I said is that
18:05
Bitcoin crypto is not location specific So all this is doing
18:10
like we saw the example with by Nance.
18:12
The UK wasn't friendly in love. I'll go to lunch, I'll go to
18:16
Paris, Paris isn't friendly enough, I'll go to Malta.
18:21
Anyways, this so-called transfer of funds regulation or TFR seeks
18:25
to strengthen anti-money laundering requirements to
18:27
ensure that crypto Trent transfers can always be traced
18:30
in suspicious transactions blocked.
18:32
See, the framing that crypto transfers can always be traced
18:36
and suspicious transactions. But Bitcoin does not allow that
18:41
but look at the framing, right? The framing is very important.
18:45
They're trying to make you believe that they could still do
18:49
what they could do in the old system.
18:51
Anyways, the deal means that exchanges must obtain
18:54
information and data personal data on all crypto transfers, no
18:57
matter the size and provide that information to authorities.
19:00
If requested, remember, when we covered a couple days ago, the,
19:04
the new screenshot from the someone attempting to withdraw,
19:08
Bitcoin. And in the Netherlands from
19:10
coinbase and it made them put, who is this person?
19:14
What's their address? What's their name?
19:16
And remember the infrastructure, Bill?
19:18
The amendment that hasn't been fixed essentially any
19:22
transaction over 10,000 dollars in the United States.
19:26
Again, social security, number name and address of the person
19:30
you're transacting to, they're trying to implement the Legacy
19:33
system on top of the new system. And a lot of people would say,
19:36
oh, it's for Crime, it's your crimp.
19:38
Listen. That that Legacy system has
19:41
included half the planet from the Legacy Financial system.
19:45
Remember, what happened in El Salvador, it only took a month
19:49
and a half for more Bitcoin wallets to be downloaded than
19:53
bank accounts in the country. Why?
19:56
Because Bitcoin removes the red tape.
19:59
All you need to do is you download a Bitcoin wallet.
20:01
You are ready to receive Bitcoin and send Bitcoin.
20:06
In fact, you are the CEO of your own own bank.
20:10
Compare that, with their system kyc, what blood type do you
20:15
have? How did you vote for?
20:16
That's a joke, but it's also not a joke.
20:18
It also extends that responsibility to soak all done,
20:21
hosted wallets. There it is.
20:23
Again, this word that is not mentioned in the white paper on
20:26
hosted. Wallet is not mentioned in the
20:29
white paper. That is government framing which
20:32
are not managed by license exchange or service provider.
20:35
You see that? It's not lice.
20:39
It's a nun hosted. Well, it is not license and it's
20:42
not with the service product, you know, where they do that.
20:45
Because it's a lot more difficult for the government to
20:49
go after millions of people holding their own private Keys,
20:53
then it is to capture a handful of exchanges because that's
20:57
exactly what they did with the banking system.
21:02
But again, and this is so they give you a little bit of bait so
21:06
you don't completely freaked out if it's a Transit.
21:09
If it only, if it's a transaction above a thousand
21:11
dollars thousand Euros. If it's, if it's below 1,000
21:15
Euros, you don't have to do all of that.
21:17
But you still have to tell the exchange, what your name and
21:21
what the purpose of the withdrawals are but if you only
21:28
at all times, but when you're sending it to people, you don't
21:31
have to let us know as long as it's under 1,000 more than 50
21:36
40. Crypto firms has sent a letter
21:38
to EU Finance ministers in April protesting, the rule saying it
21:41
infringed on user privacy. They don't give a shit on
21:45
Thursday. European Parliament, Council.
21:47
The commission will hold the final round of talks, Ernest,
21:50
who Justin and MEP and Rapid, or 40 FR who was presented for
21:56
Wednesday's debate said, the to process are intertwined as the
21:59
EU is seeking to implement its rulings on crypto and one swoop.
22:04
We will put an end to the m and an imitator of crypto
22:07
transactions here, that which was a huge loophole when it
22:11
comes to the fight against money, laundering and
22:13
criminality. We know that's not true.
22:15
We know the majority of money laundering.
22:17
Enduring comes from the Legacy system.
22:22
The framing in this article is what I want you guys to pay it,
22:25
to pay attention to, because they're trying to convince
22:28
people of something that isn't actually true.
22:34
Discussions around em, I see a, which is something that
22:37
Christine Lagarde was looking forward to and the TFR have been
22:41
ongoing for several years with crypto companies and other
22:44
jurisdictions like the UK pushing for a more incremental
22:47
approach to roll making. Now here's the thing guys, this
22:51
is going to backfire in so many ways and when it does backfire
22:56
and I'll get to why it will backfire what's going to happen.
23:00
Is they will go after self. The period, they'll say listen
23:04
remember they're already prepping you for it, a nun
23:07
hosted. Wallet is a wallet that's not
23:10
with a licensed service provider and exchanged. so, if you don't
23:16
have a license, how dare you, hold Bitcoin, Anyways, the
23:20
reason that I believe this is going to backfire is because
23:24
this is going to force people into the circular economy.
23:27
If you put that much red tape, people are going to find a more
23:31
convenient way. I'm not going to send my Bitcoin
23:35
to an exchange anymore. Why would I do that?
23:38
I'm going to pay people in Bitcoin.
23:41
I'm going to stay within the Bitcoin ecosystem.
23:44
This is already happening in the US and the US.
23:47
You don't have to pay Capital Gains.
23:50
If you're just buying and stocking and sending your
23:52
Bitcoin to Cold Storage but as soon as you sell it or you
23:54
exchange it for something for something, right, you have to
23:58
pay Capital Gains and what does that force?
23:59
It forces people to not spend their Bitcoin, but again, this
24:05
mechanism is in the hopes of let's, let's to use.
24:10
Christine Lagarde Zone, word words, let's fix that escape
24:14
valve. We have to shut it off ever.
24:16
So slightly. That's what this is about, has
24:20
nothing to do with money laundering, we've pulled you
24:22
guys up the data. We've done the homework on this,
24:26
we know that the success rate of the money laundering laws,
24:30
right? We had a money-laundering expert
24:32
dr. Ron Paul on the show is point
24:34
zero one percent. We know that they spend more
24:38
money and forcing these money laundering laws than they get
24:41
back. We know based on the Chain
24:45
analysis report, we know that there has been year after year
24:51
less criminal activity using Bitcoin, we know based on our
24:56
own research and we've done full episodes on this that the
25:00
majority of money laundering happens through the big Banks.
25:07
This is noise, however, pay attention because based on this
25:13
framework, this is what all other countries will copy.
25:17
This is the regulation that Christine Lagarde was excited
25:20
about but I think they're going to fail and the reason they're
25:24
going to fail is because at the end of the day Bitcoin is
25:27
peer-to-peer this is going to force it underground.
25:31
This is going to force people to use bisque.
25:33
This is going to force people to use Aztec.
25:35
Oh this is going to force people.
25:37
To stay within the Bitcoin ecosystem.
25:41
They need to get it through their heads that we are not
25:45
going back to their slavery system that debases us and that
25:51
they can confiscate at will. It's over.
25:55
It's done and more and more people, by the day, wake up to
25:59
that reality and they could either accept it and benefit
26:03
from Bitcoin, or they could try to fight it and have fun
26:06
staying, poor period. And all those companies if they
26:10
make their lives hard they will get up and leave Europe.
26:14
Remember Bitcoin is not location dependent.
26:18
It actually empowers people to go where they are treated best
26:22
like was mentioned. In the sovereign individual many
26:25
years ago back in 1997. Anyways, Phil then I'll pass it
26:30
on to David, okay? So thank you very much for
26:35
reviewing that and that tweet thread from what was that guy's
26:39
name? I'm sorry, the dude, I don't
26:43
remember Ernest Ernest, his name is Ernest.
26:45
Okay, anyways that I mean it was just a whole bunch of recycled
26:50
Fudd that we've already seen, but before I dive into that, I
26:53
just want to A point out. Wallet is a misnomer okay and
26:57
it's it really we really shouldn't be calling it a wallet
27:00
and I was reading I read a great tweet today from from Beauty on
27:04
that was essentially explaining that we should maybe be calling
27:07
them Bitcoin viewers because there's no laws against viewing
27:10
the Bitcoin. So who knows maybe all we need
27:13
to do is change their change the language, right?
27:15
Because that's really seeming to be the problem.
27:18
They seem to attack the language.
27:19
So all we need to do is change the language but anyways that
27:22
doesn't really make a difference that's The, it's an annoyance,
27:25
right? It's a minor annoyance.
27:26
But, but let's go back to this, this whole, this whole thing,
27:29
that, that Bitcoin is facilitating money laundering.
27:33
Okay. Let's, let's review here, let's
27:35
review how a open transparent Ledger.
27:38
That anyone can look at, is facilitating money laundering,
27:41
or or let's take a look at HSBC Credit, Suisse Deutsche Bank.
27:47
Sorry douche Bank, UK Chartered Bank bny Mellon and a whole
27:52
bunch of other banks that I can't remember.
27:54
Because memory loss. Look these These are the true
27:58
facilitators of money laundering.
28:00
If you think for a second that just some random puny individual
28:05
is the one that is facilitating billions of dollars moving all
28:08
around the world under the table you have another thing coming.
28:11
It is these giant institutions that own the rails.
28:16
They are the ones who can do this kind of crap.
28:19
So they are like Nico has said in the past many times they are
28:24
Thing. Now the last piece that I want
28:26
to say about his thread which I that kind of just sent me off
28:31
yesterday, okay? He specifically mentioned how
28:34
Russia is was using quote unquote, Bit Coin and crypto to
28:39
evade sanctions and to enter that something else like to you
28:43
know just facilitate money transfer.
28:46
Okay. We've actually shown on this
28:49
show that that is completely false.
28:52
They themselves said that there were King with the Chinese,
28:55
okay? With a whole lot further with
28:56
using a whole completely different system to send their
28:59
money around the world. So they're not even using what
29:02
is being claimed by these oligarchs.
29:05
It's it is just complete nonsense.
29:08
It is total projection. They've got nothing left and
29:11
like Nico said, this will push this will push Bitcoin, Bitcoin
29:16
use underground but make no mistake.
29:19
It doesn't disappear. All that happens.
29:22
Is it becomes tougher. And tougher for them, to
29:25
regulate its already. It already, all they have left
29:29
were the gates, right? They are The Gatekeepers when
29:32
you decide from a traditional Financial system to send, you
29:35
know, to move money onto an exchange to go and buy Bitcoin
29:38
kyc a guess what? That's where they win.
29:43
That's that they're The Gatekeepers there.
29:45
But if we're using bisque, if we're using huddle, huddle, if
29:47
we're mining, okay, they don't stand a freakin chance and they
29:51
know it. So what they need to do They
29:54
need to do is create the perception that there's only one
29:56
way to get on and off of these ramps and you must go through
30:00
them, they are The Gatekeepers. Well, guess what?
30:04
We're about to move the playing field where we're about to move
30:07
the playing field from under their feet.
30:11
Craig, I have two examples of this happening to me in the last
30:14
couple of months. First like with represent, we
30:16
were using coinbase Commerce to take our Bitcoin payments and
30:20
all of a sudden I started getting these notifications that
30:22
I was going to have to provide extra identification and all
30:26
these kind of like extra you know things I hate to do.
30:29
I'm like what the heck is going on with this?
30:31
And I was like, you know what, let me pull all that Bitcoin
30:34
that we've gotten in the transactions on our e-commerce
30:36
website. Let's get it out of there.
30:38
Let's get in the cold storage and I'm 0 This whole thing out.
30:41
So I quit coinbase Commerce and then we moved over to like the
30:45
strike. They had implementation recently
30:48
with Shopify. So we actually use that.
30:50
The other example of that is we actually have a designer from
30:55
Russia and he does like a lot of our graffiti and stuff like
30:58
that. And I was trying to send them
31:00
payment via Paypal which is what we normally do and it wouldn't
31:03
go through and I'm like, dude what could we do?
31:06
He's like and then that's when I hit him up like what about
31:08
Bitcoin? You have Bitcoin.
31:10
He's like, he's like, yeah. It's like I have Bitcoin all the
31:12
perfect. Send me your address.
31:14
I'll shoot you some stats and guess what?
31:16
Handled perfectly. Beautiful transaction.
31:19
Done in five minutes. We're good to go.
31:22
That's what's going to go. That's the power right there.
31:26
This is what people don't understand.
31:27
Like that's it. That's what's so empowering.
31:29
And anybody anybody who has had to deal with the traditional
31:34
Financial system, okay? In this way we're you get
31:38
blocked and you realize this is not my money, somehow it's not
31:42
my money, right? Even though I earned it, even
31:44
though I traded this time that I can't get back, it's not my
31:46
freakin money as soon as you've gone through that.
31:48
You understand why Bitcoin? Yeah, so, and you know what?
31:51
David, I'm sorry it happened but man, that it This is weird.
31:55
I'm glad that I'm glad it happened.
31:57
That was a beautiful example, right?
31:59
That literally it what I was describing, you actually gave a
32:02
real world example of just that, yeah, so, yeah again, eventually
32:09
right. They're going to have to come to
32:11
terms that their ability to manipulate people by having a
32:15
monopoly on the money, that a specific population uses and the
32:20
Monopoly on the creation of money, that power is diminished.
32:23
And by the day and the more they come to terms with that and
32:26
would fill always says, come to terms with the fact that
32:29
governments are actually now going to have to provide value,
32:34
right? The better it is for everybody
32:37
else, they will try to fight this but at the end they won't
32:40
win what they'll do. They'll what, what, what what
32:44
they'll do is, they'll end up, you'll end up having causing a
32:46
capital flight, which is exactly what happens in communist
32:49
countries in Venezuela. When everything happened, it's
32:52
estimated between 5 to 10. Mmm mind you.
32:54
This is a country of 30 million people, okay.
32:58
That much, people left because of the, the, the collectivist
33:04
government over there, people left Capital flight.
33:09
That's what happens people, leave, anyways, especially when
33:14
there's no Economic Opportunity. We saw the same thing happen in
33:18
Eastern Europe as well. Right?
33:19
They were leaving to West. They were there at some Even
33:24
getting shot there were there were escaping Eastern Europe and
33:28
they're fleeing to sorry. Air escaping East Berlin fleeing
33:31
to West Berlin but anyways, Phil it's time for the daily fail
33:36
brought to you by Swan. Check them out Swan.
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33:44
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It out. The link is down below, all
33:55
right, I can't even keep up with the amount of fail.
33:58
That is, that is going on like, no joke.
34:01
It's like it's like an avalanche of crap.
34:03
And I'm sitting there with, with like a spoon, instead of a
34:05
shovel or a, I don't know, some kind of a bulldozer whatever.
34:09
Anyways, so gonna go, we're going to leave Nick where we're
34:13
going to leave Nick Carter, mr. Kot-tair alone today.
34:17
Okay, leave me alone today because that story is somehow
34:20
still developing. So we're going to have, we're
34:22
going to come back. That tomorrow or the day after.
34:25
But for now we're going to change gears and we're going to
34:29
take a look at some fun stuff so, tagged by Ico.
34:32
So not, who is PSI in this one? This is just funny stuff.
34:36
New shit coin, here we go. Digital gold new from
34:40
wisdomtree, right? Check this out, wisdomtree Prime
34:44
digital gold a better way to own gold.
34:47
No, listen, we're not huge proponents of gold but let's
34:51
just be honest, if you are Are going to buy gold, buy freaking
34:56
gold, don't waste your time with some random paper gold, there is
35:01
no point. If you are trying to hedge, the
35:04
current system with some type of a piece of physical Rock.
35:10
Okay? Just by the goal.
35:11
Don't don't be a fool, this is crap.
35:13
Somebody tried to show me this shit for years ago.
35:15
All right there. Shit coin, got wrecked.
35:17
There's nothing that because let's face it.
35:19
There is no point in owning it just on the gold.
35:23
All right. The first point.
35:24
Now let's move on from this, let's get into the spicy stuff
35:27
just on the gold, okay? If you're going to do that, but
35:29
obviously buy Bitcoin because it's better than gold.
35:32
So, here we go, let's take a look.
35:35
So this is a weird story bit of a weird story.
35:39
Let's dive in. It's a story of exchanges of
35:42
Bitcoin of a person who is known as Bitcoin Jesus and just some
35:48
weird Shady tactics and we're just gonna dive right into it
35:53
because the wheels just keep falling off of this.
35:56
Here's another exchange, let's take a look crypto exchange
36:01
coin, Flex halts withdrawals because of extreme market
36:06
conditions. Look at the date, June 23rd
36:11
2022. Interesting.
36:14
Okay, physical Futures, crypto exchange coin flexile, physical
36:20
Futures cryptos is crypto exchange on.
36:22
That might help explain it. Anyways, going flexes pausing
36:25
withdrawals. Citing extreme market conditions
36:28
on June 23rd, along with uncertainty around a certain
36:32
counterparty. It CEO, Mark Lam said in a blog
36:35
post Thursday, additionally, Flex coin.
36:39
Trading is being halted for perps and spot in the, in the
36:44
short term, okay? That's that, that was no news.
36:48
I mean, you know, we had already seen a whole bunch of other
36:50
exchanges, just fall off the wagon.
36:52
So this is nothing new but June 23rd, that's the key here June
36:57
23rd. Alright, so here we go now, it's
37:00
June 28th. Roger ver owes coin Flex 47
37:06
million USD see We have a written contract with him
37:10
obligating, him, to personally guarantee any negative equity on
37:15
his coin, flex account, and Top-Up margin regularly.
37:19
He's been in default of this agreement and we have served a
37:23
notice of default, okay. It's got a long track record of
37:27
previously, topping up the margin and meeting margin
37:29
requirements. In accordance with the
37:30
agreement. We've been speaking with Amon
37:32
calls frequently about the situation.
37:34
With the aim of resolving it, we still would like to resolve it.
37:38
I am. I am just going to call total
37:41
bullshit and again, I'm not a fan of Roger ver in any way,
37:43
shape or form. But this, this is I think this
37:47
is total bullshit, okay? Because as I just said on the
37:52
23rd, Five days before extreme market conditions.
37:57
Now all of a sudden, Roger furrows, 47 million dollars in
38:00
US. D.c. just I'm sorry.
38:03
I don't buy it. Anyways, let's continue on.
38:06
Let's continue on here. So more clam, the CEO of
38:09
embattled crypto currency exchange coin.
38:10
Flex said that withdrawals will probably not restart on Thursday
38:14
as the company initially hoped and that was yesterday a day
38:19
after they blamed Roger ver for the 47 million dollars.
38:23
This is kind of interesting. To fix the 47 million dollar
38:27
hole in coin, flexes balance sheet, the company and this is
38:30
the great part. You gotta love, being able to
38:33
create money out of thin air. They're issuing, a token called
38:36
recovery value, USD, or RV USD, and enticing investors with a
38:43
20% interest rate. And that sounds good.
38:46
We haven't seen anything fail. That was offering that before,
38:48
Lance said that some of the inquiries to buy the debt in the
38:52
form of our, the USB token. I have come from traditional
38:56
funds rather than crypto Focus funds but declined to name any
38:59
of them. So I mean are we really sure
39:03
that Roger ver owes coin Flex 47 million dollars?
39:07
Or is it just that you've made some terrible decisions and are
39:10
falling completely off the wagon?
39:13
Is that really what's happening? Sometimes, we're not sure.
39:19
Anyways, here we go. Just a little final, follow-up
39:21
article. Let's dive into it, Bitcoin.
39:25
Jesus has denied knowing anything to The Exchange
39:28
implying in a tweet yesterday. That coin Flex actually owes him
39:33
money. I feel like salted customer
39:35
withdrawals, Duda liquidity, issues, stemming from a large
39:39
account that was running a negative balance.
39:42
I want you guys to think about this for a second, right?
39:45
Do you have this this quote-unquote crypto Exchange?
39:47
It is completely vulnerable to One account.
39:51
Just saying that sounds like some bullshit.
39:54
Alright, anyways, recently, some rumors have been spreading that
39:57
I have defaulted on some debt to a counterparty ver wrote shortly
40:01
after coin Flex announce, it would issue.
40:03
Recovery tokens an attempt by The Exchange to resume customer
40:07
withdrawals after high integrity, investor ran into
40:11
trouble. Not only do I not have debt to
40:14
this counter party, but this counter party owes me a
40:18
substantial sum of money and I am Currently seeking the Returns
40:23
on my fun. So this is the beauty of the,
40:25
the bear Market. I mean, we're calling it a bear
40:27
Market, don't really call it a bear Market.
40:29
I just you know for me it's like it's a cooling off and you can
40:32
call it cognitive dissonance or I'm bullshitting myself,
40:34
whatever the hell you want, it doesn't make a difference.
40:36
But the point is the point is the markets cooling off, and
40:39
we're seeing who's so who's swimming naked and it's get, it
40:43
gets kind of gross, right? It obviously gets kind of gross
40:45
because these companies you can clearly see have made some
40:49
absolutely. Terrible decisions and I
40:52
wouldn't be surprised if coin flexo's Roger a whole bunch of
40:56
money and simply tried to get ahead of this but they did it
41:01
very poorly they they didn't get their story, right?
41:05
So at first they cited extreme market conditions, then they
41:09
blamed a single holder, okay? On the exchange of causing this
41:15
exchange to become a liquid. Nico.
41:20
I just What the fuck? Yeah, what the fuck indeed, dude
41:28
direct man. It's like we know the community.
41:31
We know the community hates Roger ver.
41:36
Let's use them as a scapegoat but here's the signal guys.
41:39
Okay ideally this is what would happen, right?
41:45
It, let's say some big account when underwater, why does that
41:50
affect everybody else's account? Shouldn't everybody's money.
41:53
Be separate. Well that's not what happened.
41:56
The same thing happened, they did exactly the same thing that
41:59
Babel did that three arrows did that block fi.
42:01
Did that Celsius, did they re hypothecated everyone's
42:06
deposits? And they used it to trade
42:09
themselves, they were riding High when the price of Bitcoin
42:13
was at 50 69k, but when it crashed down, 70 percent
42:18
correction bro. They don't, they don't have that
42:22
money to give anymore and they're fearful of a bank run.
42:26
And this is exactly what has happened and what happened in
42:30
the Legacy system. Back in the 1930s, we are not
42:33
learning our lessons here, it's the same garbage, it's just
42:39
dressed up differently. Anyways, David, what are your
42:42
thoughts on this brother? You've you're quite active on
42:45
Twitter. So you're seeing this explosion
42:48
happened, every single day, it's like day after day.
42:51
It's What's who's going to be next?
42:53
You know, and I think the moral of the story is stick the
42:57
fucking Bitcoin man. Everything else is shit.
42:59
Everybody's over-leveraged. I mean just stick to what's
43:03
good, get your stats do vertical storage, provide value, go get
43:07
to go get a job at McDonald's and do what you got to do but
43:10
this 20% 30% 8py. It's not going to work.
43:14
Absolutely right. It doesn't exist 100% that
43:19
that's some signal right there. That's some That's some David
43:22
wisdom. But anyways, Phil, it's time for
43:24
the daily meme review brought to you, by Citadel 21, they make
43:28
the best Bitcoin cultural Xena stories articles Comics by
43:31
actual bitcoiners is artwork for volume. 10 is artwork for volume
43:35
11 and this is artwork for volume 2.
43:37
Volume 2 is almost sold out because there's only 1000
43:39
physical copies made per volume. So here, your prince of Citadel
43:42
21 today before they run out. Oh, we've got some fire.
43:46
We've got some fire memes today. People, let's do.
43:49
I mean we got fire means every day but let's dive.
43:51
Into it. Here we go.
43:52
We've got one from nvk. He retweeted the dock.
43:55
So it's not nbk's mean but he read.
43:57
He retweeted doctor Bitcoin MD, great, great tweet bitcoiners
44:04
bitcoiners and Bitcoins. And this is the, the famous.
44:07
This is like the famous Simpson seen.
44:09
And I think that that totally depicts exactly what's happening
44:13
right now on bitcoin Twitter. I I can't see it any other way.
44:18
All right, moving on. This is an interesting.
44:21
One from seed signer. Let's let's dive into this one,
44:24
right? Because some memes some memes
44:27
are not necessarily means but they are still means.
44:31
Sorry. Not sorry.
44:32
Here we go from seed signer. Every time the Bitcoin Network
44:35
goes through a wave of significant value.
44:37
A cruel greedy actors managed to find a way to walk things back
44:42
via Affinity scamming original altcoins.
44:46
Smart contract platforms. Ico eighth defy nft Mania Raid,
44:51
fi leverage / fraud. That's right, two steps forward,
44:55
one step back, but we're still stepping forward.
44:59
Well said, well said seat signer, because that's right.
45:03
All of these wretched coiners, believe it or not, from that is
45:07
going to come a certain percentage of Hardcore Bitcoin
45:11
maximalist because they're going to end up figuring out.
45:13
The only reason that I should be here is for Bitcoin.
45:16
Just what most of us figured out, and the lucky ones, I
45:18
shouldn't say the lucky ones, but the most fortunate ones are
45:20
the ones who figured it out. A out without having to shift
45:23
going on without getting wrecked.
45:24
My personal opinion, not everyone's take.
45:26
Anyways, moving on, moving on Isle of elsi.
45:33
All right, here we go. Comments on yesterday's post, be
45:37
like simple which obviously is from The Lion King Simba.
45:42
So here we go. Yes I am aware of insert
45:44
influencers, should coining and scam Shilling.
45:47
Yes. I support that making money off
45:49
me. They've done more good for
45:51
Krypto space than most, you know, they don't owe me
45:55
anything. A storm is coming for toxic Max.
45:58
He's like you. Oh, that's right.
46:00
The terrible horrible assholes who, you know, obviously warned
46:04
you against this crap. Great meme, great me, Mel C.
46:07
I love it. Alright, moving on, we've got
46:10
the master Lena. See, she's definitely the
46:12
master. And as Nico said, in the past,
46:14
she makes these all herself. Very cool.
46:17
Let's dive into it. By the way, this is referencing
46:19
when I just talked about during the day.
46:20
That's right. Right.
46:21
Yeah. Perfect name for this.
46:23
So, here we go. What's that?
46:26
Where did you get that from? Who are you sending that to?
46:30
What are you buying with that? What are you doing with that?
46:34
Whoa, whoa taxes. That's none of your business
46:40
that is. Yes, this is very very well
46:43
done. And this is, you know what this
46:46
is why memetics are so strong because we can sit there and dig
46:48
through extremely complex articles, not making any sense
46:53
and in a series of six pictures, you completely understand what
46:56
it is that they're trying to literally that picture II should
46:59
have just showed that picture instead of you know explained
47:02
Ella. All the I did job done, you
47:05
know? But then again but but we have
47:06
to give the Right? You got to give the You Gotta
47:08
Give the nuance and then this picture just it's like the bow
47:11
on top, you know? All right, so moving on a bow on
47:14
top of the shit. Yeah, that's right.
47:16
I tried to be nice, you know, because making sure that we're
47:21
that we're not being censored, okay?
47:24
Let's do its ghost of Limburg a, you know, every single time we
47:26
post a one of his memes, we get we get burned because we find
47:29
out, it's somebody else's but I digress.
47:32
Okay. And yes indeed EU regulating
47:35
Bitcoin very well done the state.
47:37
Eight regulations Bitcoin. Yeah.
47:40
And he's replying to her friend. Ernest.
47:42
That's right. Earnest and is terrible.
47:44
That dude, think about how crazy at that.
47:47
This one guy just get to the side like how you could use
47:52
money like oh man, oh man, oh man, all right, it's the worst
47:56
information on top of that. No, no!
47:58
Hey dude! What he knows exactly what he's
48:01
doing my friend. This is true, of course
48:03
information na na na na nana. He knows exactly what he's
48:07
doing. That's how he's marketing.
48:09
It it's fine skeezy. Politician, bro.
48:13
Furyk rat. I would more bureaucrats than
48:15
anything. All right, true.
48:17
All right. Nice simple meme.
48:18
I don't think I need to say much about it.
48:20
Don't get lost in the noise. This is all there is to it.
48:23
Don't get lost in the sauce, right Bitcoin in you and to
48:28
finish it off, to finish it off. I don't know, but we gotta have
48:32
to. So here we go.
48:34
Formats Silva hottel, when someone shows you Who they are
48:38
believe them. No amount of work in Bitcoin,
48:41
makes you immune from being an enemy to bitcoin that is truth.
48:45
And this is and this is such a great template, right?
48:48
This is the Star Wars template. Here we go. .E thin my Twitter
48:53
handle but that's a joke, right? Look, I think that is awesome.
49:00
I totally love it. Very well done, very well done.
49:03
And for for that, I am going to give it that's right because I
49:07
Have access to some of my collectibles.
49:09
Again, I'm going to give it this, it is mr.
49:13
Robot Elliot masked, Mint, Condition that's low.
49:17
All right. Well, I'm gonna give it a very
49:19
special score. I'm going to give it a comment.
49:22
That's a comment from LC quote. I don't like Phil standing make
49:27
Phil stand great again. That's right, that's right.
49:34
Phil needs to get rid of his chair shots.
49:37
Fired, Phil Deeds to stand make Phil great stand against and
49:41
great again. Anyways, David, what would you
49:44
give those beams? I'm gonna give it a triple to
49:48
meet Elite meme shirt. Whoa.
49:52
Are you making those? We made some for Miami was like
49:55
a special edition for all the homies that kind of met up.
49:58
Very nice. Very nice.
50:00
Well, we're all wearing them. Hey guys guys, we want to know,
50:04
if you agree with our scores, you disagree, let us know down
50:08
in the comment section. Make sure to subscribe to us on
50:11
alternative video platforms, like, Rumble.com, and our
50:13
personal favorite Bitcoin tv.com, and join our telegram
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group. It's a party in there.
50:19
You could link us a meme serve you, it's awesome.
50:21
Mmm, and if you're listening to the audio version of this on
50:24
Twitter spaces, make sure to stay after the show will do a
50:28
live Q&A and hang out. Anyways, Phil was an open source
50:31
software released today. Why don't you tell everybody
50:33
about it software releases brought to you by Cipher safe?
50:38
Check them out. Cipher safe dot IO, we're not
50:40
using paper, I don't think David's using paper I know
50:42
Niko's, not using paper store, your seed in steel.
50:46
You can store your seed in the Cipher wheel or the all new
50:49
Cipher grid. They both come with
50:51
Tamper-resistant wire and the grid comes with a punch tool.
50:54
All right? We've got lnd version 0.15 dot 0
51:00
beta that was released. That's right.
51:02
New lnd. Anyways, the link is down below
51:05
in the show notes, guys, don't forget to check us out.
51:09
On our Audio, Only platforms Apple podcasts Spotify and
51:14
anchor. If you want to stream a SAT,
51:16
check us out on Fountain dot. F m--, you could stream assets
51:20
through Breeze, but Wait, Nico, we're gonna do it right today
51:23
we're giving a shout-out. We're going to start to give
51:25
shout outs to the people that are streaming us at, so we've
51:28
got see a underscore Danner. Thank you very much users 666.
51:32
4850, 358. We've got crypto senna's at
51:37
poor, Ben Gunn at fundamentals, at Koz at Bond.
51:42
Thank you all very much for streaming.
51:44
Streaming us some SATs, we really appreciate it and we are
51:47
going to continue to give you guys props for for helping us
51:51
out. Awesome.
51:52
Awesome. Thank you Phil Right guys before
51:54
we go, I want to give a very special shoutouts are awesome,
51:57
clothing sponsor, Phil and I wear the hoodies Every Single
52:01
Day. Represent LTD.com, I'm wearing
52:03
the camo merch fills wearing the gray one and that's David.
52:07
He is, he's the, the master behind the designs.
52:11
Anyways, you can take advantage of the promo code down below to
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get 5% off represent, LTD.com guys.
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Also check out the new Simply Bitcoin.
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Dot news. We teamed up with pirate.
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Beachbum bring you guys some signal through the bear market.
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Today we released an article on based on the the Bitcoin
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Community Civil War. Also, check out bear Market
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Dyers, really cool stuff. Also want to give a very special
52:41
shout out to a friend of the show and the sponsor, the
52:45
legendary David. You can go give him a follow on
52:48
Twitter. I am David X and deftly.
52:51
Go check out represent LTD the Twitter account, many ways
52:56
because those are shove you enjoyed the show.
52:58
You know what to do. Smash that car.
53:00
So of course you want to continue here in the Bitcoin.
53:02
Use from the Polly Platt perspective in the catastrophic
53:04
fails and memes from the same perspective, the best
53:07
perspective. Definitely consider subscribing
53:10
to Simply Bitcoin. And we'll see you tomorrow guys.
53:12
For a brand new episode, the wheels are falling off.
53:14
This roller coaster ride stick to bitcoin, only, you'll be
53:18
fine.