Latest / Simply Bitcoin / The Paper Bitcoin ATTACK JUST Ended? (PUMP Incoming!)| EP 1174

Transcript

The Paper Bitcoin ATTACK JUST Ended? (PUMP Incoming!)| EP 1174 · Simply Bitcoin

0:00
EO Blackrock's newest potential change to their Bitcoin ETF is a
0:05
game changer, especially when you consider that the timing of
0:09
this new change is just days after the repeal of SAB 121,
0:13
which allows banks to finally custody Bitcoin.
0:17
If BlackRock does finally make this change to their spot
0:20
Bitcoin ETF, does this mean that the potential risk of paper
0:23
Bitcoin attack is now over? Well it seems like BlackRock has
0:28
finally bent the knee to bitcoins incentives.
0:31
But the real question is, is can we all finally just trust Larry
0:35
Fink and BlackRock? No, you guys already know what
0:37
we say don't trust verify. So interesting developments here
0:43
we go on the show. Of course I am not alone I have
0:46
the illustrious and beautiful Internet Sophie AKA Mrs. Nikko
0:51
with me on the show. So first of all, guys, forgive
0:54
me for the issues we have, but it seems like it's working.
0:59
So tell me in the chat draw me a one in the chat if we are live
1:02
finally and it's coming in clear and no pops.
1:05
I will watch you real quick. Hopefully it's coming through.
1:08
OK, OK, can't stop the signal. Looks like we're good.
1:12
Wow, what a Monday anyways, anyways, enough of that here's
1:15
the headline here's the big story for today.
1:17
Here's a featured story for the show.
1:19
It's a NASDAQ seeks amendment to Blackrock's Bitcoin ETF for in
1:23
kind redemptions and there's a lot of Bitcoin or rather ETF
1:27
analysis were saying this is how the ETF should have been
1:30
launched from the get go. This is a huge development and
1:34
really a swathes or rather you know minimizes some of the
1:37
threats that a lot of bit corners have been talking about
1:39
about BlackRock rug pulling the ETF.
1:41
Maybe a hard fork and I'll lay all that out for you guys but
1:44
first and foremost let's talk about the ETF's OK we're getting
1:48
ones in the chat finally. All right here we go the article
1:51
NASDAQ has submitted a filing on behalf behalf of asset manager
1:55
BlackRock seeking a rule change to permit in kind creation and
2:00
redemption again and redemption for spot Bitcoin exchange or
2:03
rather ETF. And as I was telling you
2:06
Bloomberg ETF analysis James Seaford said this is how the ETF
2:09
should have been launched from the get going.
2:12
So breaking this down for people that don't understand the
2:14
significance of this what is an in kind redemption.
2:18
So NASDAQ again proposed to allow quote in kind transfers of
2:22
the trust a Bitcoin filed last week, the 24th of January.
2:27
And the filing stated that authorized participants again
2:30
institutions that facilitate the creation and redemption of fund
2:33
shares would be able to use either cash or Bitcoin to create
2:37
the shares or receive cash or Bitcoin when redeeming the
2:41
shares. This model is more efficient for
2:43
ETF as it avoids bid slash spreads and broker commissions
2:47
from selling the basket to raise cash for issuing shares.
2:50
However, cash creation provides more flexibility for fun
2:54
participants. So breaking down the jargon,
2:56
essentially no longer do we have to trust that they're buying the
2:59
Bitcoin. They can actually implement and
3:01
push Bitcoin into the ETF and also redeem the ETF in Bitcoin,
3:05
which is huge. It's going to make seeing
3:07
Bitcoin on chain more transparent.
3:09
And this is huge for a lot of the things that Bitcoiners were
3:12
scared about. Obviously the main one, as we
3:16
like to say, the attacks of paper Bitcoin are rather
3:18
rehypothecation. Now, it seems when this gets
3:21
proposed, that's going to be one of those risks that are starting
3:24
to get minimized. And of course, as I was telling
3:27
you, SAB 1/21 was rescinded, was repealed, which means that
3:31
Bitcoin or rather banks at large are finally able to custody
3:34
Bitcoin in their reserves. And it looks makes it looks like
3:38
their balance sheets are doing a lot better.
3:40
We saw Tesla last week follow through on the fabs FAZBE
3:44
accounting rule change. So the three things that we've
3:46
been talking about for years now that take Bitcoin to $5,000,000
3:50
are of course the Bitcoin ETF, the FAZBE accounting rule, and
3:53
then of course Bitcoin or banks being able to custody Bitcoin.
3:57
And now it looks like we are finally getting the ETF rolling
4:01
and going back into the saga on the BlackRock.
4:03
Obviously a lot of people are very skeptical of BlackRock
4:07
because, you know, they have a they have a huge history and
4:10
maybe some could say nefarious, maybe some could just say it's
4:13
the incentives of the Fiat system.
4:15
But remember when they dropped the ETF they dropped, you know,
4:19
we call it their white paper. I guess there was some writing
4:22
in that release that made a lot of bit corners uncomfortable.
4:26
And I have a screenshot here and it goes In the event of a hard
4:29
fork of the Bitcoin network, the sponsor will AKA BlackRock, if
4:33
permitted by the terms of the trust agreement, uses discretion
4:36
to determine which network should be considered the
4:39
appropriate network for the trust purposes.
4:41
And in doing so may adversely affect the value of the share.
4:46
Essentially what it's saying that, hey, if there is ever a
4:48
contentious hard fork on Bitcoin again, BlackRock has the right
4:51
to choose which chain is the right change or the right chain.
4:55
And a lot of Bitcoiners were like, wow, does this mean that
4:58
BlackRock is proposing they're going to hard fork Bitcoin,
5:01
essentially rug pull the Bitcoin network.
5:03
And then another little line in here is quote, there is no
5:06
guarantee that the sponsor will choose a digital asset that is
5:09
ultimately the most valuable fork.
5:12
When Bitcoin has heard this, this we all kind of got, you
5:14
know, we're all paranoid here and we're like, does this mean
5:16
BlackRock wants to hard fork Bitcoin?
5:18
You know, is this them trying to re hypothecate and change the
5:21
network of Bitcoin? A lot, a lot of noise was made
5:24
around Bitcoin Twitter on this because, you know, on one hand
5:28
people were saying, oh, this is just, you know, some some legal
5:31
fine print. It's not that big of a deal.
5:32
It's more about protecting themselves.
5:34
Other bitcoiners were like, I don't know, it sounds like
5:37
they're trying to hard fork the network.
5:38
Well, part of ETFs, as we know historically with gold usually,
5:43
and I have a story for you guys later on today.
5:46
The reason gold failed is because they'll print more paper
5:49
bit or paper gold than they actually have in reserves AKA
5:53
rehypothecating. And this is one of the things
5:55
that as Bitcoiners we're concerned with trad fight coming
5:57
in. Well, it looks like now if this
6:00
in kind redemption does get pushed through, it looks like
6:03
that threat is being minimized and this isn't being set with no
6:06
precedent. Again, we've covered this on the
6:08
show, but to update you guys a lot, there was a lot of talk
6:12
about Coinbase and BlackRock. Coinbase is essentially the
6:16
company that is custodying a lot of these institution ETFs.
6:20
And so there was a lot of talks about does Coinbase actually
6:23
have all of that Bitcoin? And then we had some news
6:26
reports last year towards the end of the year saying, you
6:28
know, is there some secret deal going on with BlackRock and
6:31
Coinbase? What is actually going on?
6:33
It's hard to see whether all this Bitcoin is being bought on
6:36
chain. Then a lot of data came out and
6:38
it does seem like they're holding all of that Bitcoin for
6:40
this ETF. But breaking down the saga a
6:42
little bit, which makes bitcoiners concern, which makes
6:45
this news so big. Here's a headline.
6:47
BlackRock secret Bitcoin deals, Coinbase CEO defends against off
6:51
chain settlement rumors. And we have Brian Armstock's
6:54
tweet. Here he goes.
6:55
Not sure what this is all about to be honest.
6:57
All ETF mints and burns we process are ultimately settled
7:00
on chain. Institutional clients have trade
7:03
financing and OTC options before trades are settled on chain.
7:06
This is the norm for institutional clients.
7:08
Again, all funds are settled. Funds are soft foods.
7:11
And if you want audits, Deloitte audits us annually.
7:14
We're a public company. You know, it's dissuading the
7:16
rumors that they actually don't have that Bitcoin and and
7:19
following this disagreement, we saw BlackRock amending the
7:22
Coinbase custody agreement to require 12 hour withdrawals amid
7:26
debt rumors. So you know the the headlines of
7:29
his Coinbase issuing paper Bitcoin to BlackRock and other
7:32
ETFs. It seems, at least if we're
7:34
taking Brian Armstrong's word, that is not the case.
7:37
And now we're seeing coming out of NASDAQ that they're going to
7:40
have in kind redemptions for these ETFs.
7:42
So it's not just paper Bitcoin. They will actually be able to
7:45
redeem those ETFs in Bitcoin. So this is a huge, huge
7:51
development that we're seeing in the trad fi and Bitcoin markets
7:54
right now. And of course we we don't
7:57
believe in trusting here, you know, we believe in verifying
8:00
everything and it seems like we are finally going to see in kind
8:05
redemptions for Bitcoin ETFs. Of course this is starting with
8:09
just the BlackRock I bit, but obviously BlackRock leads the
8:14
race and then this will come out for every other ETF out there.
8:17
So there will be less Bitcoin if this gets pushed through.
8:20
This is a huge development in regards to the ETFs.
8:23
And of course, as Bitcoiners, as someone that kind of understands
8:26
what's happened with the traditional financial system,
8:28
This is why we love Bitcoin because they cannot debase the
8:31
21 million hard cap. They cannot re hypothecate
8:33
themselves without blowing up. And so, you know, when this
8:37
story came out initially about the Black Rock fine print, a lot
8:42
of Bitcoiners were like, oh, that means they're going to hard
8:44
for it. I kind of was looking at it.
8:45
It's like a disclaimer to kind of protect themselves.
8:48
Now it seems like they are bending the knee to the Bitcoin
8:51
incentives. And so if we can ensure that
8:53
there is a less rehypothecation in the market by in kind
8:56
redemptions, then I think it does sound like BlackRock is
9:00
bending the knee to Bitcoin incentives.
9:02
So I think this is a huge development.
9:04
I'm super excited to see this through.
9:06
Obviously, I don't buy ETFs. I'm a spot Bitcoin maxi, but now
9:10
it looks like all the authorized participants are also going to
9:13
be, you know, taking in custody of spot Bitcoin ETF.
9:18
So huge development here. Super excited for this.
9:21
Let me see good. Yeah, good to see you guys.
9:23
It's Sophie. Chime in here real quick while I
9:26
make sure that everything is streaming really good.
9:29
Well I just have a stupid question.
9:32
Does this mean that people who buy ETFs are going to be able to
9:36
put their Bitcoin in self custody?
9:38
Or what does that actually mean? Well, it basically means that
9:44
that option is now there. So again, the authorized
9:48
participants are essentially the biggest institutions.
9:51
It's like JP Morgan James St. all the big institutions.
9:54
So it's not for retail yet. It's for those authorized
9:59
participants. So it's basically for the big
10:01
institutions to actually redeem Bitcoin here.
10:04
So no longer they're just going to get, you know, the cash gains
10:07
here. If they still want to, they can
10:09
redeem the Bitcoin again, which is why it connects to repealing
10:13
121 is the banks are now seemingly opening the door to
10:17
custody their own Bitcoin. Does that OK, but that's a
10:20
double edged sword because if they can custody their own
10:23
Bitcoin, we I mean if we can custody our own Bitcoin, they
10:26
can too. So then we're just getting one
10:29
step closer to them being completely obsolete.
10:35
Love it. Yes.
10:36
Wait, is that a bad thing? I don't know.
10:38
No, no. I think, I think that's a great
10:40
thing. I just do they know that.
10:44
No, maybe not, maybe not. Have no clue what they are
10:49
thinking here. Yeah, I'm I'm kind of waiting
10:51
for the other shoe to drop. This almost sounds a little too
10:54
good to be true. I mean, of course it's you know,
10:57
the Bitcoin is for enemies thing where they're going to have to,
11:01
you know, they will have their own Bitcoin and we don't trust
11:03
these institutions. But now they're also
11:06
incentivized because of Bitcoin and the way that it like its own
11:11
invisible hand like moves markets, is it's going to
11:15
incentivize these institutions to not rug pull.
11:18
All of you know, us little people.
11:22
And if we have our own Bitcoin then in self custody and they do
11:27
too, then, you know, I feel like there's going to be a lot less
11:29
corruption. I'm not sure, though.
11:32
I I do see that this is great. I just, I don't, I don't really
11:36
see what's what they what's in it for them.
11:41
Well, taking taking hold of their own Bitcoin.
11:44
Hold on, hold on. Good comments in the chat.
11:46
We have Fiat smack says shake out the paper hands.
11:48
Then the real bull market starts.
11:50
Love it. And then one more just to
11:52
clarify here, a SpongeBob SquarePants said when you cash
11:55
out your ETF it will be in BTC and not Fiat.
11:59
Also D Gen. maxi yes I am the DEI hire 200.
12:04
Percent. OK.
12:04
All right. Embrace it.
12:06
I have to embrace it. Well, again, man, just just to
12:12
just to point out the elephant here.
12:14
Issues with our restream today, but it looks like we're working.
12:16
We're finally here. What a Monday.
12:19
It's always Mondays. I'm not going to lie.
12:20
It's always seems like Mondays are the crazy days, but let's
12:24
pay the bills here and let's get the show started.
12:26
We have a lot to talk about today.
12:28
So if you guys been watching the Bitcoin markets, of course you
12:31
guys don't watch the Bitcoin price wink wink, but the Bitcoin
12:34
price tank this weekend. We're not going to talk about
12:37
the Bitcoin price tanking. We're going to talk about what
12:39
is happening and it looks like Bitcoin dominance.
12:41
It's the highest it's been in a long time.
12:44
So it looks like people are getting shaked out of the
12:46
altcoins. Remember I said last year maybe
12:49
altcoin season is never coming again and there's a lot of
12:53
speculation on that happening also.
12:56
Next thing we're going to be talking about some gold today.
12:58
Guys, I know this is a Bitcoin show, but gold is a hard money
13:02
asset and they're basically like our Big Brother here and they
13:06
are hitting all time highs. Now what does this mean for us
13:09
Bitcoiners? I don't know.
13:10
But usually when gold hits all time high, that means there is
13:13
some problems in the system and and then also in that same vein,
13:18
it looks like the Bank of England is having some issues
13:20
redeeming and sending some of their gold.
13:22
So This is why we Bitcoin and the last story for you guys on
13:26
the culture. I don't know if you guys saw
13:28
this report coming out of the DOJ, but there's basically
13:31
saying money isn't property and the title seemingly is trending
13:35
towards making it the reason why they want to take your money
13:39
because it's not property. Anyways, we got a whole jam show
13:41
for you guys. Let's pay some bills here.
13:44
Let's see if everything works like normal.
13:46
Of course, we are sponsored by her rather partnered with our
13:50
boys at Bitcoin. Wow, the best place to buy
13:52
Bitcoin. They're enabling independence.
13:54
You literally need a Bitcoin wallet to even buy buy Bitcoin
13:58
on there. It is self custody by default.
14:00
Now why do you need to do that hurdle is because they never
14:03
touch your Bitcoin. There is never a possibility of
14:06
you getting rug pulled of them losing your Bitcoin of you
14:09
buying Bitcoin on it and then magically poof, it's not there.
14:13
This is why we partner with Bitcoin Well, they are the only
14:16
exchange that does this Bitcoin self custody by default.
14:21
We love them and a lot of new features coming down the
14:23
pipeline now next, Bitcoin Well Infinite, their OTC desk.
14:27
If you are in the market right now, you're looking at this dip
14:30
and you're like, man, I need to buy a big chunk of Bitcoin.
14:33
They will sell you that Bitcoin through their Bitcoin Well
14:36
Infinite and the minimum order is $50,000.
14:39
So if you're in the market to buy $50,000 or more in a smash
14:43
buy, make sure you get in touch with the Bitcoin Well Infinite
14:46
team. And when you sign up using the
14:48
promo code simply BTC, you get a few tosses into the Bitcoin
14:52
wishing well, which means you get to win some sets.
14:55
Every spin is a win. Can get your lightning wallets
14:58
out right now. Scan the QR code first one to
15:01
scan gets it. Drum roll please.
15:05
OK, oh, let's go 2100 sets first.
15:10
Com. First serve.
15:11
All righty guys, let's get into the show.
15:22
I want to tell you guys about our sponsor Stamp Seed.
15:26
Is your Bitcoin and cold storage really secure?
15:29
Are your seed words really secure?
15:32
Stamp Seeds Do it Yourself Kit has everything you'll need to
15:36
hammer your seed words into commercial grade titanium plates
15:41
instead of writing them down on paper.
15:44
Don't do that. Paper sucks.
15:47
You want to literally stamp your seed into this plate of
15:51
titanium. Your words are actually stamped
15:53
into the metal plate with this hammer, so once your words are
15:57
in, they aren't going anywhere. No risk of the plate breaking
16:02
apart and your pieces falling everywhere.
16:05
Titanium stamp seeds will survive nearly triple the heat
16:08
produced by a house fire. They are also crush proof,
16:12
waterproof, non corrosive and most importantly because this is
16:16
generational wealth time proof, all things that paper is not
16:22
allowing you to huddle your Bitcoin for the long haul.
16:25
I mean, here is the plate that they crushed, they put in water,
16:30
they put a blowtorch to it and as you can see, the words have
16:34
survived. Stamp your seed on stamp seed
16:38
and you can use promo code simply to get 15% off anything
16:43
on their store. All right guys, scan the QR code
16:49
right here on the screen and use the promo code simply for 15%
16:52
off. Make sure you put your seed
16:54
phrase on something other than paper, something indestructible
16:58
so you can pass it on to your great, great grandchildren and
17:02
you don't let your dog eat your seed phrase.
17:04
All right guys, over here on Clark Moody's dashboard going
17:08
through the numbers, the Bitcoin price is currently at
17:10
$99,990.00. We are kissing 100K again this
17:14
weekend. Or rather last night in the
17:16
morning. Morning.
17:17
Or this morning, rather, it was this morning.
17:18
It was last night. Yeah, it was after midnight at.
17:22
Like 122K. No, it went down to 91.
17:25
It was incredible. It was incredible.
17:27
But we're already back at 99,000, it looks.
17:30
So much FOMO, I wish I could have stacked.
17:32
I should have stacked harder. It's AA10K.
17:35
What is What's 10K? Is that Omega candle?
17:37
I forget what the names are now. I think it's Omega candle or God
17:40
candle so we might be used to. I'm so used to going down to the
17:43
low 90s and like just hopping back up to 100.
17:46
A 100K is like regular now who would have ever thought that?
17:50
Now 100K has been normalized. We're so bored with it anyways.
17:52
Anyways, the SAT per dollar, AKA how much Bitcoin you can buy for
17:56
a single dollar, AKA what your dollar is worth in Bitcoin, is
17:58
currently at a flat 1000 SAT per dollar.
18:02
The block height is 882,176 and we are coming back and kissing
18:08
the $2 trillion market cap. We're at 1.98 right now.
18:11
The Bitcoin versus gold market cap is at 9.99% and the total
18:16
Bitcoin coin that will ever be issued is currently at 94.37%,
18:20
roughly 19.8 million Bitcoin in circulation.
18:23
You might want to get some just in case it catches on.
18:25
We're going to be fighting for the last what what is it one
18:27
point 4:00-ish or 1.3 million Bitcoin and the realized
18:32
monetary inflation taking Bitcoin or Fiat currencies of
18:35
schools at 1.02%. OK, actually, let me let me see
18:41
this. Do I have a, do I have a trading
18:43
view up here? I want to show you guys the
18:44
price first. We're not doing price
18:47
speculations, but let's just show you today's candle and what
18:51
this means. So if you can see it here, guys,
18:54
look at this candle, look at this Wick.
18:56
We're not doing TA guys, but you can see last night the Bitcoin
19:00
prices dumped. It's kind of been dumping the
19:01
last couple of days. There's been a lot of talks of
19:04
maybe this is because of the Trump tariffs and that's why the
19:07
market's responding so strongly against it.
19:10
But hey, Bitcoin is resilient and it bounced back literally
19:15
before the show even started. But that's not what I I want to
19:17
talk about. I want to talk about the
19:18
significance of the Bitcoin price and where we are right
19:21
now. Again, we've been talking about
19:23
this on the show for a long time.
19:24
There's a lot of uncertainty in the world right now.
19:27
There's a lot of crazy stuff going on.
19:28
There's some shaking up going on in American markets.
19:31
Obviously a lot of the executive orders.
19:33
Trump's talking about the fact he's pushing through a strategic
19:36
Bitcoin reserve or digital asset stockpile, the FOMO, the game
19:41
theories all playing out. But for a lot of bitcoiners, or
19:44
rather alt coiners in the market, they are getting
19:47
devastated. And I showed you the chart last
19:49
week about Bitcoin market cap, separating from the crypto
19:53
market cap and and, you know, a lot of big corners were
19:56
speculating. We're wondering does that mean
19:58
all coin season is over? Obviously, I don't think
20:01
gambling's ever going away, but we are seeing here, and This is
20:04
why I have this chart right now. This is a market cap BTC
20:07
dominance. It is at essentially the highest
20:11
it's been in four years. You know what's its lowest here?
20:15
We'll go here since 2021. Yeah, you know, not exactly 4
20:20
years yet, but it's on the rise. And what does this usually mean?
20:23
It means that people. Are, you know, going back into
20:26
Bitcoin? Maybe the signal is spreading.
20:28
Maybe people are starting to recognize and realize that, hey,
20:31
in all of the face of the monetary uncertainty, maybe you
20:35
want to go into Bitcoin. Maybe Bitcoin is the only thing
20:40
that is certain here. Maybe Bitcoin is the only thing
20:43
that matters in the whole space now.
20:45
A lot of people are obviously losing their money right now.
20:48
There's a lot of speculation about what's going to be put
20:50
into the digital asset stockpile in the United States.
20:53
There's still some crypto ETFs being launched, seeing what the
20:58
market really wants. But anyone that really
21:00
understands the Bitcoin market understands that it's Bitcoin.
21:04
And then there is shit coin. So we're seeing the Bitcoin
21:07
dominance market cap go up. It's the high as it's been in
21:10
four years, which is just an indication of people are going
21:13
back to Bitcoin right now that altcoin markets are being
21:16
devastated. Now, I don't think we are never
21:18
going to see an altcoin season, but we are seeing that maybe
21:22
this decoupling that a lot of us Bitcoin is, have been talking
21:24
about is happening in real time. Maybe Bitcoin is decoupling from
21:28
the crypto market cap. And we're seeing a lot of
21:31
different indicators whether it's the market cap separating
21:33
from the, the crypto market cap. It's the Bitcoin market
21:37
dominance chart. It's the fact that, you know, if
21:40
you want to have a money that is certain that is stable, maybe
21:45
you don't want to be speculating in an altcoin because as much as
21:48
you might be looking for 100 X gains in an altcoin, Bitcoin is
21:52
just steady and sure and consistently going up and to the
21:56
right as it becomes monetized and adopted by every corner of
22:01
the world. It looks like Bitcoin is
22:03
separating at least for the moment, and we're going to see
22:06
obviously more capital flow into Bitcoin.
22:08
I think the education around Bitcoin is one of the big
22:11
leading indicators of this now. I don't think you have really an
22:14
excuse to fall for all the altcoin scams.
22:17
There's really good education in Bitcoin now, which is, you know,
22:20
speeding up people's learning curves here.
22:23
I think everybody knows shows that altcoins are kind of like
22:27
the most risky thing that you can do.
22:29
And you know, there's there is Bitcoin and there's everything
22:33
else. Everything else could be
22:35
considered a shit coin. So I think people are waking up
22:38
to the fact that they're not going to be able to take their
22:41
shiny rocks and move them over to another country if they
22:46
choose to. But with just a couple of words
22:49
in your head, you can leave and take your wealth wherever you
22:52
want. And that's really the value
22:54
here. It's that and the fact that
22:56
there's only ever going to be 21 million.
22:58
And like you said, the educational aspect of it is so
23:01
important. I think so many people are
23:03
waking up to this fact and they're realizing that they are
23:07
actually much more empowered by living on a Bitcoin standard
23:11
than buying real estate, buying gold, buying anything else.
23:15
Because everything else, as I think Saylor said this or was it
23:19
Max Keiser, everything goes to zero against Bitcoin.
23:22
So people are waking up to that. Totally.
23:25
Well, we can only hope so. I mean, last Friday was that
23:29
Friday? No.
23:30
Was that Thursday? You know, Sophie.
23:33
Sophie went a little off the reservation for a little bit.
23:36
As much as we'd love to force the education on Bitcoin,
23:39
reality is the best teacher. Oh, I didn't say force the
23:42
education. I know we're not gonna, you
23:44
know, I was. I was softening the blow,
23:46
Sophie. I was softening the blow a
23:47
little bit. I'm a lot softer today.
23:49
My kids sick, so I I didn't really get a lot of sleep.
23:52
Yeah, neurons aren't neuroning. Yeah.
23:56
All roads lead to Bitcoin, but it seems like maybe people are
24:00
starting to understand what the game is with the Larry Finks of
24:04
the world, the institutional manager of the world, with the
24:06
nation state game theory playing out, Maybe people and also the
24:10
fact that, you know, U.S. Treasuries are seeming to have
24:13
issues like what we're going to be talking about.
24:14
Gold's popping off right now. There's a lot of uncertainty in
24:17
the world right now in financial markets and and maybe people are
24:21
starting to trend to Bitcoin. Maybe they're starting to find
24:23
the life rafts. Maybe the 21 million hard cap is
24:26
starting to sink in. Maybe people are starting to
24:28
understand inflation is stealing their lunch and maybe they want
24:32
to hold something that they cannot debase.
24:33
It's a lot more than inflation. It's a lot more than the money
24:36
printing. It's the way that that money
24:38
printing is being used to fund other countries, to fund wars,
24:42
to fund things that don't better the the population of like
24:47
humanity. Let's go.
24:49
All right, guys. Well, before I get to the news.
24:52
Smash the Like button. Comment on the show.
24:56
Subscribe. This video with your friends.
24:58
Look, I know you guys yell at us about, you know, begging for
25:01
likes and subscribe works on YouTube and today we need the
25:04
help considering we had some issues with our streaming
25:07
software. But show goes on, we got it
25:09
going for you guys. So on that note, let's get into
25:13
the news. I want to give a very special
25:16
shout out to our sponsor Compass Mining.
25:19
They make Bitcoin mining accessible to everyone from
25:23
beginners to experienced investors.
25:25
Their turn key miners gets you online and hashing within 48
25:30
hours, making it easier than ever to start your mining
25:33
journey. Plus, with their active
25:36
marketplace, you can resell your miner at any time, adding
25:40
flexibility and value to your investment.
25:43
Visit their website to access a wealth of resources, learning
25:47
everything you need to know about Bitcoin mining.
25:49
Take your first step into the world of Bitcoin mining with
25:53
confidence. Discover more at Compass Mining
25:56
dot IO. Again, Compass mining dot IO and
26:00
see how Compass Mining can power your success.
26:07
I want to give a shout out to our sponsor foundation.
26:14
It's self custody done right. They've built a premium grade
26:18
hardware wallet called Passport right here in the US, and it
26:21
integrates seamlessly with their free app called Envoy.
26:26
Passport is fully open source and verifiable.
26:29
It's the most intuitive Bitcoin wallet designed with the UX
26:32
reminiscent of a classic feature phone, so you'll know how to
26:35
navigate it and use it the moment you pick it up.
26:38
It's also air gaps, meaning Bitcoin stays offline, never
26:42
touching an Internet connection. It's Bitcoin only open source,
26:46
verifiable air gap security model, gorgeous design craft
26:49
premium grade materials. Get your Bitcoin off exchanges
26:53
and into your own hands in just a few minutes with Passport at
26:57
foundation dot XYZ slash. Simply get Peace of Mind.
27:05
Let's go hold on this new software.
27:07
If you guys have your Bitcoin on an exchange still, what are you
27:11
doing? You need to get yourself a
27:13
passport by foundation. It is grandma friendly,
27:16
completely free and open source. Free as in no, not free in
27:20
price, but free as in other people can look at the software.
27:23
It is beautiful. You guys need to scan the QR of
27:26
our code, use the promo code, simply get your whole family one
27:29
of these. They're simple, simply the best.
27:32
OK, all right, here we go. I have for you guys an
27:36
interesting saga here. So of course, we are called
27:39
simply Bitcoin, but in a lot of markets, you know, you got to
27:43
understand that gold is essentially our bit our Big
27:46
Brother here. Yeah, yeah, exactly.
27:49
As much as much as much as we kind of talk crap to the gold
27:55
bugs out there, they were right to some extent.
27:58
They were right in the hard money game.
28:00
But now we have something better, superior technology,
28:03
which is obviously Bitcoin. And we all know the meme now.
28:06
And I'm sure if you're new, if you're old, we've all heard the
28:08
meme 1000 times. Bitcoin is digital gold.
28:11
Now, What is that meme even mean?
28:14
It means that when there is fear and uncertainty in the
28:17
traditional financial system, people seemingly go to hard
28:21
monies. They go to precious metals, AKA
28:23
gold. Now, when gold starts to make
28:25
incredible moves, it usually starts to say that there's
28:29
something in the traditional financial system that you should
28:32
be taking or paying attention to.
28:35
And we're seeing this play out right now.
28:37
Obviously there's a lot of uncertain going around in global
28:41
macroeconomics, but in the face of all this, gold is hitting all
28:45
time high and Bitcoin is holding really strong around 100K, which
28:49
is I would say a very good sign and of a good indicator of a how
28:53
healthy the Bitcoin network is. But this is a story of gold and
28:57
I'm going to smash 2 gold stories together, which is going
29:01
to show you know one that maybe you need some hard money.
29:04
Maybe you need to hold and save more hard money AKA Bitcoin, not
29:08
gold and also the superiority of gold or Bitcoin 2 gold.
29:13
So first story here this is just a good summary.
29:16
It's Michael Bury stock trader. If you guys know the movie The
29:19
Big short, this is his Michael Bury stock trader, but this is a
29:23
good, good thread here in regards to what the significance
29:26
of gold going to all time high really means.
29:29
So in the last year alone, gold is up almost 40%, a move we
29:32
haven't seen in years. And you can see the chart here.
29:35
You know, Bitcoin or sorry, gold is it's almost looking like a
29:39
Bitcoin chart here, though we're not going to look at the in the
29:41
in you know previously, because it's technically when you kind
29:45
of count for inflation in the money printing, it's pretty much
29:48
sideways, but chart looks good chart is gold at all time high.
29:52
Now here's the point of this and again, great summary here by
29:56
Michael Bury, stock tracker. And he goes there are three
29:59
specific time periods in which gold saw incredible gains, 1979
30:03
to 1980. There was geopolitical tensions.
30:05
Gold gained nearly at plus 300 percent. 2007 to 2011.
30:10
Again, you know the great financial crisis.
30:12
So 2008 financial crisis triggered a massive rally from
30:15
roughly $650.00 an ounce in mid 2007 to over $1900.00 an ounce
30:21
in September 2011. And then 2019, 18 and 2020
30:24
during, you know, the shutdown of the world, the thing that you
30:29
know, the thing that we can't talk about.
30:30
And the job prices from $1500 in mid 2019 to $2075 in August
30:37
2020. Now what do all of these things
30:39
have in common? It's that all of these periods
30:42
were driven by one thing, fear. The fear of unknown causes
30:46
market panic, which in turn causes investors to sell risky
30:49
assets for traditionally known safer ones, which again, in the
30:53
face of and all the crazy things we've seen in the world right
30:55
now and the fact Bitcoin is still roughly at 100K right now,
30:59
even though there is a narrative that Bitcoin is, you know, a
31:03
risky asset, it's holding its price really strong.
31:06
Even though gold is pumping right now.
31:08
I think Bitcoin will follow suit very clearly.
31:11
And then you just got to think about this.
31:12
If you owned a home, car, car, gold, bond, stocks, fine art or
31:16
crypto or Bitcoin and you are forced to sell one out of fear
31:18
of market panic, what would it be?
31:20
It would most likely be Bitcoin because it is stable.
31:23
It is liquid is the quickest thing to sell.
31:25
It's the most saleable good in the world currently and you
31:29
know, now that's what's caught. Is that what's causing the
31:32
period of gold gross? I don't think so, but it is a
31:35
mixture of factors that include our nation's overwhelming debt
31:38
interest rates, markets at all time high the list goes on
31:41
whether it's Fiat uncertainty. Remember we're seeing talking
31:44
heads talk about Fiat currencies and people are dropping it
31:47
because you know, we're we're getting broker and they're
31:50
looking for something to store their value in.
31:52
Of course, Bitcoin is superior store of value.
31:54
We got President Trump basically forcing or threatening BRICS
31:59
nations to not leave the dollar. And so a lot of people seemingly
32:03
are piling into gold. It's still the analog hard
32:06
money. A lot of people are still more
32:08
comfortable with gold than they are with Bitcoin and and you
32:11
know, good or bad, we don't know what this outcome is going to
32:13
be. But if you see gold starting to
32:15
make new all time highs, that should be kind of raising some
32:19
alarms and and you know, red flags here.
32:21
And you, you should be wondering what is actually going on in the
32:24
market. No matter the narratives that
32:25
they try to spin on you. If gold starts making new all
32:28
time highs, that should be something that you should be
32:31
watching. Now, of course, we know the
32:33
mean. Bitcoin is digital gold.
32:35
It's the superior store of value.
32:36
It's a digital world. So we must, you know, transition
32:39
to a digital money. Personally, I don't really love
32:43
the digital gold meme because I think Bitcoin is much more than
32:46
just a store of value. I kind of consider it more as
32:48
perfect money. It's the best store of value the
32:51
last 15 years. It is a medium of exchange and
32:54
at a certain point in the near future, or maybe it already is
32:56
for you, it is a unit of account.
32:58
So gold is an analog of analog version of of Bitcoin, hence why
33:02
a lot of people say it is digital gold.
33:05
And this next story kind of proves why Bitcoin is superior
33:10
to gold. And and for anyone that really
33:12
doesn't understand monetary history, our society was once,
33:17
you know, our dollar was once backed by gold and then in 1971
33:20
go to WTF happened in 1971. Nixon basically got us off the
33:25
gold standard. Now it's really amazing that a
33:27
lot of people don't understand that the dollar isn't backed by
33:30
anything. Now, all of this mechanisms kind
33:32
of played out because of one simple thing.
33:35
It's because gold is really hard to store and transfer.
33:39
Not too hard, obviously, because it's been done.
33:42
But if you store your gold in a vault or with a, you know, back
33:45
in the day, a blacksmith, a Goldsmith, there is a temptation
33:49
to issue more paper gold than the gold actually in the vault.
33:53
And this is what got us to the system we are on right now,
33:56
which is the Fiat system where our money is literally printed
33:59
out of thin air because there's nothing pegging it to reality.
34:02
This is why they can print unlimited amounts of money.
34:05
But this isn't a story about WTF happened in 1971.
34:09
This is a news story about the complexities of storing gold and
34:14
the going back to the beginning, the issues and the attack
34:17
vectors of paper Bitcoin or paper gold with through the
34:20
ETFs. It's a story about
34:22
rehypothecation. Now, I'm not saying that the
34:25
rehypothecation is happening, but again, when there is smoke,
34:29
there is fire. And there was an article coming
34:31
through the Financial Times and here we have a screenshot of it.
34:35
But essentially the TODR is that the Bank of England's vault?
34:39
There is now a really long wait to withdraw your gold bullion
34:44
stored in the Bank of England's vault.
34:46
Sounds like they're getting rugged.
34:48
Like they might not have all the gold they claim to do.
34:51
They might be issuing more paper gold than they actually have in
34:54
the vault, which is something we constantly talk about here.
34:57
Which is directly leading to why Bitcoin is superior to gold.
35:01
Because you know, it's all on. BlackRock saw what was happening
35:05
at the Bank of England and they were like.
35:08
Wait, Sophie. Sophie.
35:09
So conspiracy. Theories here, conspiracy
35:12
theories here, but anyways, we've seen that the withdrawal
35:15
limit has raised from a few days to between 4:00 or 8 weeks now.
35:19
There is also a lot of talk about, oh, you know, it takes
35:23
forever to custody or settle your Bitcoin.
35:26
You know, it's so expensive to settle your Bitcoin like it's
35:29
never going to work in the modern world.
35:31
Well, you know, Bitcoin settled in 10 to an hour, depending on,
35:35
you know, fleet of fees and and how much transactions are in the
35:39
mem pool. But I don't know, 10 minutes to
35:41
an hour sounds better than a few days or 4 to 8 weeks.
35:45
You're literally going to have to wait up to two months to get
35:47
your gold if you're trying to claim that gold from the Bank of
35:51
England. And here's a quote.
35:52
We go. People can't get their hands on
35:53
gold because so much has been shipped to New York and the rest
35:56
is stuck in the queue or the queue.
35:58
The liquidity in the London market has been diminished.
36:02
And the Bank of England declined to comment.
36:05
Now Yahoo Finance dropped a similar story and regards to
36:08
this gold, they are spinning it a little different.
36:11
So this is the headline. Traders are moving so much gold
36:14
from the Bank of England to the US to avoid Trump tariffs that
36:17
the waiting time has reportedly octuple.
36:20
So again, I don't know. When I hear this stuff, it makes
36:25
me think that they don't have the gold.
36:27
We've talked about this on the show before.
36:29
Opti, they don't have the gold. Hey, they don't have the gold my
36:32
bro like. We're speculating here, but we
36:34
have speculated on what it's. Almost.
36:37
It's almost as if we can't verify if they have the gold.
36:41
Wow. I wonder what asset you can
36:44
verify that is all there. It's crazy.
36:49
Exactly. And as everyone's saying in the
36:50
chat, wow, it's hard to understand how high we're going
36:53
world Bitcoin incoming. Now, just breaking this down.
36:56
I, you know, I covered all the stories, but like Sophie was
36:59
saying, This is why Bitcoin is superior than gold.
37:03
Look, I love gold. I love touching gold.
37:06
It was the first money technology that essentially
37:09
propelled us into the modern age.
37:12
But after 1971 when we got taken off the gold standard, we are
37:15
now living in an untethered reality.
37:18
The way they can print money out of nowhere.
37:20
They are not backed by reality at all.
37:23
They can just continue to print money.
37:24
And in the face of uncertainty, remember where this story
37:27
started about gold? Gold is hitting all time highs
37:30
right now. So there is some signs in the
37:33
market that things are either, you know, one on the verge of
37:37
another, you know, financial crisis or two people are
37:41
panicking in the market and they're going to the safest
37:45
assets to store. And historically, that has been
37:47
gold. Now we all know, at least as
37:50
Bitcoiners hear that Bitcoin is a superior money technology
37:53
versus gold, and this is one of the very reasons because it it
37:57
it does cost so little for you to take custody of your own
38:00
Bitcoin. All you need to do is you know
38:03
you buy yourself a wallet like the passport by foundation.
38:07
You pay the currently right now the fee.
38:10
The fees are pretty pretty ridiculous with you know the mem
38:13
pools have cleared over the weekend.
38:15
I'm sure you can get a transaction in for one SAT fees,
38:18
which is literally less than a dollar on your transaction.
38:22
So you can settle your Bitcoin for less than a dollar in
38:26
roughly 10 to 30 minutes versus, you know, needing to ship it
38:31
from England to the US. And you're going to have to wait
38:34
8 weeks till that Bitcoin gets there.
38:36
It might not even be there when you can just the.
38:39
Boat might sink. Yeah, the boat might.
38:41
Sink might get attacked by pirates, you never know.
38:45
Yes, exactly. Anything could happen.
38:47
So interesting. Interesting stuff, yes.
38:50
And as Gulag say, you know, Bitcoin audits itself every 10
38:53
minutes. There's so many indicators going
38:56
on right now that just show that Bitcoin is the superior money
39:00
technology. Now that asymmetric knowledge
39:03
right now, that misunderstanding in the market is where you are
39:06
able to capitalize on people not knowing Bitcoin.
39:10
Yes, our goal is to have as many people understand Bitcoin, get
39:13
on the life rafts, but you're seeing that people are still
39:16
using the analog versions and we live in a digital world.
39:18
And as much as I love gold, I don't believe we will go back to
39:22
a gold standard. It just it doesn't work in the
39:24
modern world, especially when you have competition from a
39:28
younger, better sleeker technology that is Bitcoin, of
39:32
course, hard capped at 21 million.
39:34
We don't even know how much gold there is in in the on planet
39:37
earth already mine, let alone what is mine.
39:40
And then of course the settlement times of Bitcoin, it
39:43
is far superior than gold. And these are a lot of the
39:45
reasons the fundamentals that we believe gold will overtake
39:48
gold's market cap. Now gold is obviously pumping
39:52
right now. I'm sure my my dad who's it's
39:54
kind of a gold bug. It's pretty hype.
39:56
I am I'm surprised I haven't gotten the hey gold hit all time
39:59
high yet, but he does text me like, yo, Bitcoin's doing really
40:03
well right now and I'm like, yeah, you know, I think it's
40:05
going to be a big year. But this stuff personally are
40:08
the things when I look at traditional financial markets,
40:11
these are the the confirmations that I know Bitcoin is going to
40:15
win. It's the superior money
40:16
technology. And if gold starts pumping,
40:18
hitting new all time highs, I think it's only a matter of time
40:21
until Bitcoin does as well. But also the fact that we're.
40:24
We're holding pretty steady around 100 Ki think this is this
40:27
is really setting up for a for an incredible end of the year.
40:30
Anyways, Sophie, I've ranted enough chime in here.
40:33
What is your thoughts on the gold saga that we're seeing
40:38
right now? Well, Briggs just hit the nail
40:40
on the head. I think gold is old.
40:43
And part of that is the reason that gold is so relevant and
40:47
it's been such an incredible, like long store of value for
40:52
people. But at the same time, the
40:54
Internet changed everything. And I think that with that,
40:58
Bitcoin is going to be the new quote UN quote gold.
41:01
That's why they call it the digital gold.
41:03
Also, I think the reason that gold is going up is because
41:08
let's be so real right now, it's because of Donald Trump and all
41:12
of the changes that he's implemented in only 14 days,
41:15
guys, every single thing that he's done, it's been aggressive,
41:20
it's been risky, but it has favored the United States.
41:24
So you're seeing this up and down volatility.
41:27
Yesterday Bitcoin was at $91,000 and today it's back at 100K.
41:34
We are experiencing volatility in our culture, in our politics,
41:38
and obviously Bitcoin is reflecting that.
41:41
And so people who you know, might not understand Bitcoin or
41:46
they're going to buy gold because to them it's more
41:49
stable. And I think that that's
41:50
fundamentally why it's gone up. It's it's no other reason event.
41:54
But people our age, I don't know one single young person that
41:58
actually owns gold. Like they might own paper gold,
42:02
but like physical gold, I think a lot of people our age are
42:07
actually more likely to buy Bitcoin.
42:09
And so as time progresses, we're just going to see the price go
42:13
up because people are going to start to realize that Bitcoin is
42:17
easier to self custody. Bitcoin has been going up way
42:21
more. And in the moment of crisis,
42:25
you're not going to be able to just take your gold and run, but
42:28
you are going to be able to take your Bitcoin anywhere you want.
42:32
100 percent, 100%, couldn't agree more.
42:35
Wow. All right, we do have a culture
42:38
story, but the chat's cooking Nico right now.
42:41
This is funny chat, all right? Chat OK Chat chill out, chill.
42:45
Out when he's when he's back tomorrow they're all going to
42:47
come see him. So that's that's.
42:50
All as I transition into the culture, we have an interesting
42:54
story for you guys. One in the chat if you think.
42:58
One in the chat if you want Nico back tomorrow, or two in the
43:01
chat if you want Sophie back tomorrow.
43:03
OK, let's go. Let's get into today's culture.
43:07
I want to give a shout out to our sponsor Hive Digital
43:10
Technologies. As the first ever public miner,
43:14
hives been battle tested through every possible market and as the
43:18
first with an AI strategy, Hive continues to redefine the future
43:24
of sustainable energy. Also got to casually drop this
43:27
in here. Hive consistently tops the
43:30
industry in Bitcoin. Find her EXA hash.
43:34
They're lean and mean, they're green and clean, and they're
43:37
changing the game. Learn more by following them at
43:40
Hive Digital Tech or check out their website,
43:43
hivedigitaltech.com. All right guys, before I get
44:00
into the culture story for today, which is an interesting
44:02
saga, make sure you guys get tickets too Bit block boom up
44:06
April 3rd through the 6th this year in a few months.
44:09
A true Bitcoin conference. This is in Dallas, TX.
44:13
This is the basically our home conference.
44:15
We love Gary and the whole bit block boom team.
44:18
It is awesome. Get yourself in Texas, go get
44:21
some good BBQ go hang out in the infamous lobby con.
44:25
This is a small Bitcoin conference where you can hang
44:27
out with all your favorite Bitcoiners.
44:28
The whole Simply Bitcoin team will be there.
44:30
But also hey, if you don't buy a ticket, we will be streaming
44:34
this live, but make sure you get in person.
44:36
Come show us some love. Come hang out with all the
44:38
awesome Bitcoiners in Dallas, TX.
44:41
And confirm it's an amazing conference.
44:43
I love this conference. It's so fun.
44:45
Totally, totally. OK, so Sophie did send this to
44:48
me on Friday or Saturday or when?
44:51
Whenever. You believe it?
44:52
Yeah, so, you know, I knew she was going to come on.
44:55
We, we figured out that Nico wasn't, I'm going to come on.
44:58
I'm like, hey, if you see something, let's talk about it.
45:00
And this, I don't know if you guys caught this on Twitter, but
45:04
this is a crazy, crazy news story.
45:07
So the headline here, I'm on reason.com and the headline and
45:11
this is in, you know, the subject tag property rights.
45:13
This headline is absolute madness.
45:16
By the way, this isn't new. This isn't new.
45:19
It's absolutely madness. Anyways, the title is the
45:23
government says money isn't property so it can take yours.
45:27
Absolutely insane. So in a jaw-dropping argument,
45:29
the Department of Justice Justice claims seizing $50,000
45:32
from a small business doesn't violate property rights because
45:36
money isn't property. Interesting take here.
45:39
And so we go in here. This is a new one. the US
45:43
Department of Justice argued that confiscating $50,000 from a
45:47
small business does not infringe the business's right to private
45:50
property because money is not property.
45:53
Money is not necessarily property for constitutional
45:55
purposes, the government's brief declared, putting the very idea
45:58
of property in square quotes. Reading at my desk, I
46:02
practically practically fell out of my chair.
46:04
The DOJ gave 3 rationales for the argument, all packed into a
46:08
door stopper of a footnote. 1 The government creates money so
46:11
you can't own it, 2 the government can tax their money
46:14
so you don't own it. And three, the Constitution
46:17
allows the government to spend money for the quote, general
46:21
welfare. Of course it jokes and says if a
46:24
libertarian were to assay satire of the government lawyer brief,
46:28
this is what they might come up here.
46:29
But here it was in black and black and white.
46:32
So whose money specifically the government was saying wasn't
46:35
property, it was a small business called Chuck Saying,
46:38
the owner of CS Lawn and Landscaping.
46:41
Now, of course, they can say whatever they want to try to
46:44
confiscate, you know, asset forfeiture, all that stuff.
46:47
But the fact that they're doubling down on this idea that,
46:50
hey, we create the money, you know, we issue the money, that
46:54
means it's not your money. I don't know, puts a lot of the
46:57
things bit corners have been saying to a glaring light.
47:00
This is the style. They're front running us.
47:02
They're this is, this is just, this is just the government
47:06
front running bitcoiners so that we don't say what money actually
47:10
is. Yep, Money is speech.
47:13
Money is intellectual property. Money is personal value.
47:17
It's the value that you bring onto society.
47:20
And if the government is going to say that money isn't
47:23
property, then that means that that they believe in slavery.
47:28
Because if money can't be the individuals, if money can't be
47:32
the property of the person who produces the value which is
47:36
backing up the value of money, then that means that the 13th
47:41
Amendment, which prohibits slavery, is just an illusion.
47:46
Because we're all working for free.
47:47
We're all working for the government.
47:49
And on that note, abolish the IRS and abolish taxes.
47:53
So let's go let's Sophie cook, let's Sophie cook.
47:58
All right now, of course we got to get a couple influential
48:02
Bitcoiners take on this we have Parker Lewis.
48:04
So I'm sure you guys are familiar with Parker Lewis.
48:06
He wrote the Gray gradually then suddenly series where he really
48:09
breaks down a lot of these really horrible takes and flood
48:13
lines and perspectives on Bitcoin and here his quick tweet
48:17
and he goes the federal government, the DOJ has not
48:19
argued that money is not property so they can seize it
48:21
without due process. This is why you hold your own
48:24
keys to Bitcoin and any custodian in such a scenario
48:27
would freeze your Bitcoin with a click of the button.
48:29
And this is just a lawn care business.
48:32
So, you know, as Francis says here, you missed a memo.
48:35
Parker Money is actually a shared hallucination.
48:38
It doesn't really exist. And really the interesting part
48:41
here, like Sophie was saying, the fact that they are saying,
48:45
hey, we create money, we issue it out of thin air.
48:48
We are the, you know, sole, sole arbiters of money.
48:51
Therefore, hey, we can do whatever we want with money.
48:54
I don't know about you, but this makes me want to buy more
48:57
Bitcoin. Not only can they not debase
48:59
their Bitcoin, they can't create more Bitcoin, but they can't
49:02
confiscate it like dollars. And also, we've been saying this
49:05
for a long time on the show, this idea of there's Bitcoin and
49:09
there's slavery, there's Bitcoin.
49:11
And, and as you can see, Fiat money is already digital, which
49:15
means they can basically shut you off at will, debank you, you
49:19
know, shut off the money in your bank.
49:21
And if you put dollars into a bank account, you have to
49:24
remember it is not your money anymore.
49:26
You lend that money out to a bank.
49:28
And This is why we are Bitcoiners in the 1st place.
49:31
This is why we constantly tell you guys, do not leave Bitcoin
49:34
on exchanges. Make sure you take Bitcoin into
49:37
your own custody on a hardware wallet or even a phone.
49:40
Anything is better than letting people or the DOJ be able to
49:45
confiscate your wealth. And This is why I think we've
49:48
been talking about this for a long time.
49:49
But the sovereign individual is playing out right now as the
49:52
powers that be start to lose control on money.
49:55
They're going to try to clamp down on Fiat money on your
49:58
personal bank accounts. And that very action is going to
50:01
accelerate the adoption of Bitcoin because now people are
50:04
going to finally see the need for Bitcoin.
50:07
As we said a long time ago and for many times on the show, the
50:11
adoption of Bitcoin is not an assess, it's not it's not an
50:15
option, it's a necessity. You will need to adopt Bitcoin.
50:18
You will be forced to adopt Bitcoin either via government
50:22
overstep or because of the financial system potentially
50:25
imploding. But you don't have to wait until
50:28
that moment. You can get on the life raft
50:30
today. But they are saying the quiet
50:33
parts out loud constantly, whether it's gold not being able
50:37
to be retained by the Bank of England or whether it's this
50:40
idea that, hey, we create the money, we issue the the money.
50:42
Therefore we are, you know, the real owners of that money.
50:45
If you put your money in a bank, hey, it's not your money
50:48
anymore. We can do whatever we want with
50:49
it. And it's like, this is the very
50:51
need for Bitcoin. This is why we are bitcoiners.
50:54
This is why we constantly come out here and try to show
50:56
different ways for you guys to understand what the stakes are
50:59
at hand. And This is why you probably
51:02
don't have enough Bitcoin. You probably need to buy more
51:05
Bitcoin, save more Bitcoin, take it into custody.
51:08
And again, if you have Bitcoin on an exchange, not your keys,
51:12
not your Bitcoin, these are the things that would really make me
51:15
paranoid and scared if I wasn't already holding my own keys.
51:19
Like these are the stuff that are that your nightmares are
51:21
made of. But it looks like we are kind of
51:24
going down this dystopian path. We're seeing currency wars play
51:27
out right now. You know, Trump's been
51:29
threatening these tariffs. He pulled back a little bit on
51:32
some of them. He's implementing more.
51:34
And you're seeing he's threatening BRICS nations from
51:36
moving away from the dollar. So as we move further into this
51:41
decade, I think we're going to see increased currency wars
51:44
right now. And you want to protect yourself
51:46
by buying Bitcoin. Yes, you know, you can buy some
51:49
gold, leave it under your mattress if you want, buy little
51:51
chunks of gold. But we think Bitcoin is the
51:54
superior money technology. Now this is the theme of today's
51:57
show is that taking control of your Bitcoin is the revolution.
52:02
As we say on the show constantly, there's two things
52:05
playing out. There's bitcoins number going up
52:07
and then you guys taking Bitcoin into custody.
52:09
That is the revolution we all love.
52:11
Number go up, but if you are not actually holding that Bitcoin,
52:14
you don't have custody of that Bitcoin.
52:16
It is not your Bitcoin. So crazy stuff that we're seeing
52:19
playing out this weekend. It really is the sovereign
52:21
individual playing out in real time.
52:23
The currency wars, the global hash wars are in full effect.
52:28
All right, Sophie, I've ranted enough.
52:30
I think, I think just to add on to your point, I think also
52:34
putting that Bitcoin to good use, Bitcoin incentivizes people
52:38
to spend on things that actually matter.
52:42
And I think that in these uncertain times, in these times
52:45
where, you know, there's a lot of turmoil, people aren't going
52:50
to spend their Bitcoin on just anything.
52:53
I think Bitcoin incentivizes people to grow their own food,
52:58
buy their own land, become an actual sovereign individual.
53:01
That's what Bitcoin enables people to do.
53:04
It enables them to start families and to not rely on the
53:08
government so that they can actually live a life that isn't
53:13
ruled by commercialism or consumerism.
53:17
And when people when people go on to that type of lifestyle, I
53:23
think, you know, you can, you can actually see a world with
53:27
less war, with less hunger, with less corruption.
53:31
And I'm just excited for that to cut, to finally, like, become
53:37
our reality because we've been fighting for it for so long that
53:42
people forget, you know, Bitcoin isn't just about number go up.
53:45
It's about generational wealth. It's about actually living a
53:49
life worth living. Yeah, 100%.
53:54
I really like the meme. You know, you, you, you don't
53:57
buy Bitcoin to sell it for for dollars like Bitcoin is the
54:01
money. And as we move further into, you
54:04
know, the twenty 20s and so, you know, seemingly people are
54:07
saying the roaring 20's, the new roaring 20s, I think it's going
54:10
to become very obvious for a lot of people that wait, like, what
54:14
is this paper money that I'm forced to use?
54:16
Like why am I being forced to use a money that another man or
54:19
another person can print for free when there is a glaring
54:23
better option that is Bitcoin that stores your value through
54:26
time, your life gets cheaper when you're holding Bitcoin, you
54:29
know, it can instant, basically instantly settle in 10 minutes,
54:32
you know, to an hour or if you're on lightning, essentially
54:36
actually it's settling, you know, instantly or you know, you
54:39
can go backwards and you can use the analog representations of
54:44
Bitcoin, which is gold or, you know, if you don't understand
54:48
the monetary war that's playing out, you're, you're just going
54:52
to live in dollars. And we know where this is going.
54:55
We know what they can do with dollars.
54:56
And the only way that we see protecting yourself is through
55:00
Bitcoin. If there was a better option,
55:02
I'm sure we would be called a different name here.
55:04
We wouldn't be simply if there was a better option than
55:07
Bitcoin, we would fundamentally be whatever that is.
55:11
But the best option for everyone out there, for your friends and
55:14
your family is to hold Bitcoin. Now, obviously Bitcoin has a lot
55:17
of fundamentals that it's not about us, you know, doom
55:21
scrolling or fear mongering on the show.
55:24
It's just to explain and show you guys what is going on, what
55:27
the potential threat vectors are and how to protect yourself.
55:31
And it's very simple. Make sure you save some of your
55:34
incoming, you know, money. Your paychecks into Bitcoin live
55:38
below your means. Take that Bitcoin into custody.
55:41
It's not just enough to get Bitcoin price exposure.
55:44
You need to custody your own Bitcoin.
55:46
You need to be able to send the Bitcoin yourself.
55:48
It's about making sacrifices now and going through the quote UN
55:54
quote inconvenience so that you can opt out of not just all of
55:58
the, you know, you, you have to opt out of the convenience in
56:01
order to be able to opt out of the evil rat race that they have
56:07
us captured in. So I'm just I, I know that
56:11
everyone eventually is going to get on board and greed is going
56:14
to be the ultimate motivator. But when they see the results of
56:18
the sacrifice and, you know, going down the Bitcoin standard,
56:23
they, you know, everybody's going to be on board and hyper
56:26
bitcoinization will take place. It's happening in real time.
56:30
It's almost like the Bitcoin is the right.
56:32
It's almost like when you understand Bitcoin, you're able
56:35
to predict the future a little bit.
56:36
Even if you have a 45 IQ like I do, you're still able to see the
56:40
world a little clearly than all the people with, you know,
56:43
really warm PhDs out there and you know, the accolades.
56:46
It seems like if you readjust your monetary theory to Bitcoin
56:51
and how Bitcoin works, it's almost like it aligns better
56:54
with reality and you live a better life, which is all we
56:57
really care about is living a better life.
57:00
Sounds like it. Interesting, interesting times
57:03
as Bitcoiners continue to win. If you're still on the Fiat
57:06
Titanic, you may be going down with the ship.
57:10
So protect yourself. Protect yourself.
57:13
No. Protect.
57:15
Yourself, not the black pill. It's actually.
57:18
Too early in the week. It's a white pill.
57:20
It's a white pill. It's an orange pill.
57:22
It's. An orange pill just save in
57:24
Bitcoin make sure your friends and family are also saving in
57:27
Bitcoin continue. I need to educate, force them.
57:31
No, no. I'm.
57:32
Kidding. Oh my goodness.
57:35
All right guys. Well, the show is a little
57:37
shorter than usual today because you know, I literally did the
57:41
show 2-3 times today, but we had some issues with our restream.
57:45
So thank you so much to every single one of you guys that hung
57:48
out with us. Again, I know this is later than
57:50
our usual start time. Like way later than our usual
57:52
start time. I did say we were going to be
57:54
late though. Yeah.
57:56
So again, thank you guys so much for bearing with us.
58:00
We had some streaming complications with our software,
58:02
I think. It seems like we figured it out.
58:04
So we'll be back live tomorrow at 12:30 or 12:25 PM Eastern.
58:09
Wait, no, 12:15 PM 12/25. You already know we're a little
58:13
later than usual, allegedly 12:15 PM Eastern Time.
58:17
It seems like everything's worked out.
58:18
Nico is coming back from El Salvador, literally as we speak.
58:22
He's getting on the plane. So we'll be back to our normally
58:25
scheduled programming here at Simply Bitcoin.
58:27
But on that note, Sophie, thank you so much for hosting with us.
58:31
It looks like the chat loves you more than Nico, so we might just
58:36
have to. We're going to boot Nico off.
58:37
It's going to be the offbeat and selfie show.
58:40
No. No, I'm just, I'm just teasing.
58:44
We need Nico. We need Nico.
58:45
So, Sophie, thank you so much. Thank you, guys.
58:48
Thank you. Bye.
58:49
All right, all right guys, what a day, what a Monday seems to
58:54
happen always on Monday. But on that note, guys, on your
58:57
way out, don't forget to smash the like button.
58:59
Comment on the show for us, please.
59:01
And of course, hit the subscribe button if you think we're
59:04
providing value for you guys, whether it's education, whether
59:07
it's laughs, we absolutely love you guys or we will see you
59:11
tomorrow. On that note, I've been your
59:14
host, Opti, and I'll see you on tomorrow's show.
59:18
Peace out. Today's episode was brought to
59:21
you by bitcoinwell.com, a Bitcoin only platform on a
59:24
mission to enable financial independence.