Latest / Simply Bitcoin / US STRATEGIC BITCOIN RESERVE CONFIRMED - $500k 2025 POSSIBLE ?! | EP 1194

Transcript

US STRATEGIC BITCOIN RESERVE CONFIRMED - $500k 2025 POSSIBLE ?! | EP 1194 · Simply Bitcoin

0:00
Donald Trump just made history yesterday by moving Bitcoin
0:06
$10,000 with a single tweet. But what's interesting is the
0:11
fact that his announcement of the Strategic Bitcoin Reserve on
0:15
Truth Social didn't even mention Bitcoin in the initial post.
0:22
It seems like he did some he he, he did some.
0:26
He had to, he had to back up a little bit and say, oh, and of
0:29
course, of course, Bitcoin is mentioned and he no longer used
0:33
the word stockpile. He specifically called it a
0:37
strategic reserve. Has something changed in the
0:41
Trump administration? Today we're going to be breaking
0:43
down what this means for the US and how this is accelerating
0:48
global Bitcoin adoption. Also to mention as well, the
0:52
White House is going to be hosting a meeting, the first
0:56
crypto summit on March 7th at the White House.
1:00
So ladies and gentlemen, it's official.
1:03
A strategic Bitcoin reserve is happening, but it's not Bitcoin
1:08
only. That's the negative part.
1:10
ETH is in there, Cardano is in there, XRP is in there and
1:16
that's something that honestly didn't catch me by surprise at
1:20
all. I'm going to bring up also my
1:21
legendary Co host, always optimistic.
1:24
It's Monday. We're starting off Monday
1:26
strong. It didn't catch me by surprise
1:29
really that that, you know, all coins were included in this,
1:34
this post. Originally the plan was that the
1:38
strategic Bitcoin reserve was going to be Bitcoin only.
1:41
But there was a trauma. I can't, I can't reveal my, my
1:43
sources, but there was a tremendous amount of pressure on
1:47
the Trump administration from Ripple.
1:50
And I'm assuming that there was also lobbying efforts from
1:55
Solana and Cardano as well, because I don't think they would
1:59
just be included in there, just to be included in there.
2:02
And I think there's something that Bitcoiners fundamentally
2:06
underestimated is that the altcoin lobby is incredibly
2:11
powerful and influential in the United States, that it is what
2:15
it is. And I've been telling you guys
2:17
this from the very beginning. If you're not in the room,
2:20
you're not in the deal. So what is the tweet?
2:23
How do I know this is official? Well, I'll read you guys the
2:26
post from Truth Social. AUS Crypto Reserve will elevate
2:30
this critical industry after years of corrupt attacks by the
2:34
Biden administration, which is why my executive order on
2:38
digital assets directed the presidential working group to
2:42
move forward on a crypto strategic reserve that includes
2:46
XRP, Solana and Cardano. I will make sure the US is the
2:51
crypto capital of the world. We are making America great
2:54
again. Now, a little bit of damage
2:57
control because he initially released that.
2:59
And of course, you had David Bailey.
3:01
David Bailey's the CEO of Bitcoin magazine.
3:03
He's the one that got Trump to Nashville.
3:05
And I'm sure you know, David Bailey did some texting in the
3:09
background because shortly after this tweet or this tooth social
3:13
post, Trump followed up with. And obviously Bitcoin and
3:17
Etherium, as other valuable crypto currencies will be at the
3:21
heart of the reserve. I also love Bitcoin and
3:24
Etherium. So a little bit of damage
3:26
control at the end. This is my take on it.
3:30
Again, I think Bitcoiners underestimated the altcoin
3:33
lobby. It doesn't matter in the long
3:36
term and the reason it doesn't matter in the long term is that
3:38
everything goes to zero against Bitcoin.
3:42
So it doesn't really matter. Now, the positive, and I've been
3:45
saying this since the beginning of the year, if the strategic
3:48
Bitcoin Reserve gets passed, gets approved and it's official
3:52
now, it is coming. We are my expectation.
3:56
My expectation is I wouldn't be surprised if we saw half
4:00
$1,000,000 Bitcoin by the end of the year.
4:02
This is enormous. You have the most powerful
4:05
country on the face of the planet economically and
4:08
militarily just announcing that they are going to buy Bitcoin,
4:15
or at least, yeah, buy Bitcoin or at least not sell it.
4:18
And that's an enormous announcement.
4:20
I can't emphasize that enough, guys.
4:22
This is this is huge. Here's Arthur Hayes, CEO of Bit
4:27
Bit Max before he stepped down and found her better said.
4:31
And here is David Sachs. David Sachs is the AI cryptozar
4:34
and he says President Trump has announced a crypto strategic
4:37
reserve consisting of Bitcoin and other top cryptocurrencies.
4:41
This is consistent with his Week 1 executive order 14178.
4:46
President Trump is keeping his promise to make the US the
4:49
crypto capital of the world. More to come at the summit.
4:52
The summit, like I said, is going to be held at the White
4:54
House on Friday, on March 7th and of course we're going to be
4:58
covering it. Hopefully we can cover it live
5:00
for you guys. Arthur Hayes response that he
5:02
says nothing new here, just words.
5:04
Let me know when they get congressional approval to borrow
5:06
money or revalue the gold price higher.
5:10
Without that, they have no money to buy Bitcoin and shitcoins.
5:13
Interesting. Interesting about how everybody
5:18
reacted to the inclusion of all coins into the strategic Bitcoin
5:24
reserve. I mean, Arthur Hayes is, you
5:26
know, he Co founded Bitmex, right?
5:28
It's not a Bitcoin only on ramp. They have a lot of altcoins on
5:32
there and he bluntly calls it shitcoins.
5:35
What's really interesting too also is that the CEO of the
5:39
largest altcoin casino in the world, Brian Armstrong said
5:44
something very similar and this is his response to the strategic
5:48
Bitcoin Reserve, he says. Excited to learn more.
5:50
Still forming an opinion on asset allocation, but my current
5:53
thinking is number one, just Bitcoin would probably be the
5:57
best option. Simplest and clearest story, a
6:01
successor to Gold 2. If folks wanted more variety you
6:06
could do a market cap weighted index of crypto assets to keep
6:09
it unbiased. But probably option one is
6:13
easiest. So 2 of the founders of some of
6:16
the largest altcoin casinos are all saying the same thing.
6:20
They're like, yo what? Why is XRP in there?
6:24
Why is Cardano in here? Like, what is Solana doing in
6:28
there, man? Just Bitcoin only.
6:29
What's going on? And this is something that I
6:33
tweeted over the weekend. I have to give credit where
6:34
credit is due because Max and Stacey got this absolutely
6:37
right. They've been predicting this for
6:38
a while. El Salvador will remain the only
6:42
country with a public. There's a keyword there, a
6:45
public Bitcoin reserve. You can audit El Salvador's
6:49
Bitcoin reserve at any time. You could do it from your home
6:52
computer. If you have an Internet
6:54
connection, you can audit it. And as you can see, also
6:58
something that Stacy messaged me and she pointed out to me, check
7:01
this out, El Salvador. It's almost as if El Salvador
7:04
knew the dip was coming because they stopped buying for a week.
7:08
The dip happened, and then they started buying again.
7:11
So El Salvador bought the dip. I don't know who's doing the
7:13
trading over there, but they're doing a great job.
7:15
Even Peter Schiff, right, agrees with the Bitcoin Maxis that the
7:20
strategic Bitcoin reserve should be Bitcoin only.
7:22
This is his take. I get the rationale for a
7:24
Bitcoin reserve. I don't agree with it, but I get
7:27
it. We have a gold reserve.
7:29
Bitcoin is digital gold, which is better than analog gold.
7:32
So let's create a Bitcoin reserve too.
7:35
But what's the rationale for an XRP reserve?
7:37
Why the hell would we need that? I mean, it's hilarious, Anthony
7:41
Pompliano responded. Peter Schiff, Bitcoin
7:43
maximalist. And Peter Schiff responds with
7:46
what part I don't agree with you not understand.
7:49
So, you know, and everyone's like, like, this is crazy, you
7:52
know, And it is crazy because if you just connect the dots for a
7:55
second, you have Peter Schiff, Brian Armstrong and Arthur Hayes
8:00
all agreeing that the strategic reserve, digital assets reserve
8:05
should be Bitcoin only. Here is Donald Trump's son Eric
8:09
Trump and he says I love the genius of announcing a strategic
8:12
reserve on a Sunday when traditional markets are closed
8:15
and Wall Street sleeps for the first time.
8:17
Retail investors win, traditional finance better catch
8:20
up or will quickly become extinct.
8:23
The world no longer runs on a Monday through Friday, 9:00 to
8:25
5:00. Then he tags I think their
8:28
exchange or something like that world liberty FI, BTC and ETH.
8:33
What's really interesting again is I think, again, I can't
8:38
emphasize this enough, Bitcoiners fundamentally
8:44
underappreciated and underestimated the altcoin
8:47
lobby, altcoin lobby. Brad Garlinghouse was doing
8:52
victory laps. Charles Hodgkinson's, the
8:54
founder of Cardano was doing victory laps.
8:58
They poured a tremendous amount of money into this to make sure
9:01
that they're all coins that can be created out of nothing.
9:05
They can manipulate, gets bought by the US government.
9:11
And but yeah, I, I think I'm not too happy about this.
9:15
But I would say the positive thing is, again, everything goes
9:19
to zero against Bitcoin. And positive thing #2 is your
9:23
bags are going to pump. Like if you're holding Bitcoin
9:26
like this is it. This is, this is a huge whip.
9:28
Like the US government just said, look, we're, we're buying
9:30
Bitcoin or we're acquiring Bitcoin, or at least we're not
9:33
selling the Bitcoin that we do have.
9:35
Like, that is enormous. If that is not the ultimate
9:39
stamp of approval, I don't know what is.
9:42
Now, a couple things that I'll mention before I move on to the
9:46
The Hill article regarding the White House Crypto Summit that's
9:51
going to be happening on Friday. If they do this via executive
9:56
order, the danger is that the next president, if it's via
10:01
executive order and not through legislation, the next president
10:05
will have the ability to essentially repeal it.
10:08
Like they they can just walk it back.
10:09
They can just like smash sell all that Bitcoin, you know, but
10:14
they can do whatever they want with it.
10:16
It's only via legislation where essentially regarding of regard,
10:21
it doesn't matter who goes into office.
10:24
They can't really do anything with it if it's through the
10:27
legislative process. So there are limitations to what
10:31
Trump could do via executive order.
10:33
And he always runs the danger that, for example, in 2028, I'm
10:38
99% sure it's going to be JD Vance on this, on the ticket,
10:42
which is going to continue the whole America First MAGA agenda.
10:46
But you know, the Democrats, like, they have a chance of
10:50
winning, right? This is a pretty divided
10:52
country. And we all know how they
10:54
currently feel about it and that that could change in the future.
10:57
But, you know, the Biden administration wasn't exactly
11:00
happening. So if you have a Democrat who
11:02
has a very similar outlook on Bitcoin, you know, what do they,
11:06
what do you think they're going to do?
11:08
They're going to smash sell that.
11:10
But it was funny because before we went on air, Optia was just
11:13
like, you know what, Nico? I just want them to pump my bags
11:15
now. And there's a part of me that
11:17
agrees with that. We've been waiting a while.
11:20
If you're class of if, if you're, if you're, if you're
11:23
class of 2016, 2017, you know, you've been burnt. 2021 was
11:28
like, you know, cut short. You know, this bull market has
11:32
been extremely boring. You know, you just want things
11:35
to start picking up again. Are we at the point where we're
11:38
just like, daddy government, please pump my bags.
11:41
Is is that where we're at? Anyways, So the White House is
11:46
going to be host hosting a, a crypto summit and I'll, I'll
11:51
read you some of the details. The White House is set to
11:53
welcome professionals in the cryptocurrency industry on March
11:56
7th for a first of its kind summit.
11:59
Attendees will include predominant founders, CEOs and
12:03
investors from the crypto industry, as well as members of
12:06
the President's working group on digital assets.
12:09
The summit will be chaired by the White House AI and Cryptozar
12:13
David Sachs and administered by the Working Group Executive
12:17
director Bo Hines. One of the president's first
12:20
executive orders signed during his second term, stated his
12:23
administration would aim to quote support the responsible
12:27
growth in the use of digital assets, blockchain technology
12:31
and related technologies across all sectors of the economy.
12:35
Trump has pledged to make the US the crypto capital of the world
12:39
after his family embarked on a business venture in digital
12:42
currency, earning Eric Trump a keynote at Bitcoin MENA 2024 in
12:47
Abu Dhabi quote. You're going to have the most
12:50
predominant crypto president in the history of America.
12:53
The president also served as the primary speaker for Bitcoin 2024
12:57
in Nashville while on the campaign trail.
12:59
So OK, a couple things to break down here it is now official
13:04
Trump is not a Bitcoin president.
13:06
He is a crypto president. Now Bitcoin does fall into
13:10
crypto, right? I think it's the only true
13:14
cryptocurrency. Everything else is centralized,
13:17
but Trump is Trump is into crypto, he's not into Bitcoin.
13:22
Only Naimbu Kelly. El Salvador remains the only
13:27
Bitcoin country in my eyes and Naimbu Kelly remains the only
13:31
Bitcoin president in my eyes. And and that a lot of credit, a
13:35
lot of that goes to Max and Stacy that have done an
13:37
incredible job kind of maintaining that and and keeping
13:42
the all coiners at Bay over there in El Salvador.
13:45
So, yeah, I mean, good news overall.
13:48
The positive news, just to summarize everything is that
13:51
bitcoins going to pump like crazy this year.
13:54
I'm very confident of that. When the most powerful
13:57
government in the face of the planet is announcing they're
13:59
going to buy it. You could also make a very, very
14:02
good assumption that the, the, the vast majority part of that
14:09
strategic reserve is going to be Bitcoin.
14:13
It, it kind of creates that the game theory starts to come into
14:16
place, right? So if you're China, if you're
14:18
Russia and the United States of America starts acquiring
14:21
Bitcoin, you don't want to get left behind it.
14:24
It kind of forces your hand to start acquiring Bitcoin as well.
14:27
And we've already seen politicians in Europe talk about
14:29
this, right? They talked about the idea that
14:31
like, hey, look, if the US starts buying Bitcoin, like
14:34
we're not, they're going to have a choice but to buy Bitcoin,
14:36
right? And when countries that have
14:39
money printers start using those money printers start to start
14:44
buying something that has absolute scarcity number goes
14:48
up. And one last thing that I'll say
14:50
is, you know, it to me, it was like very suspicious that the
14:57
price went to 78 K and you know, like right before this
15:02
announcement was made, right? Like that to me, just something
15:07
feels off, right? So I wouldn't be surprised that
15:12
with Wall Street and all these institutions and BlackRock here,
15:17
you're starting to see, you know, manipulation of the price
15:20
so that a lot of these institutions buy Bitcoin on the
15:23
cheap. And make no mistake, if for
15:26
whatever reason you sold Bitcoin at 78 K, like you most
15:30
definitely sold it to BlackRock, like 99% chance or micro
15:35
strategy or the US government, right?
15:37
You don't know. So yeah, I mean, great news
15:40
overall. It is official.
15:41
Now, ladies and gentlemen, we have a strategic Bitcoin reserve
15:47
in the United States of America. It is happening.
15:51
It's here it's official. The downside is again it is not
15:57
just a strategic Bitcoin reserve, it's a strategic
16:00
Bitcoin reserve and an altcoin reserve to put it nicely so
16:06
Opti, I mean what's your take on here bro?
16:09
He did free Ross. He did repeal SAB 121.
16:12
He did and operation choke .2 point O.
16:16
You know he is launching a strategic Bitcoin reserve.
16:19
He is keeping his promise, but at the same time, he ain't
16:21
Bitcoin only man he's he's a he's a crypto president.
16:26
We got to be honest here. Trump is not a Bitcoin president
16:28
Trump is a crypto president. Bitcoin falls into the crypto
16:32
category, and that's great right, but we got to be honest
16:36
here anyways, before I pass it on to opti and get his opinion,
16:39
I do want to give a shout out to the live stream.
16:41
You guys are absolutely loving the show today.
16:44
We just broke 800 live viewers on YouTube alone.
16:47
If you guys are enjoying the show so far, make sure to smash
16:50
that like button help us break 200 likes within the 1st 25
16:54
minute to the show. There's 814 live viewers.
16:56
There's only 131 like so smash that like button.
17:00
Also shout out to the rumble audience.
17:02
The the most savage chat in the world makes me and Opti feel bad
17:07
every single day. Smash that like button rumble
17:10
and of course, shout out to the X audience as well.
17:13
X is absolutely popping off almost sixteen 1600 live
17:17
viewers. So Opti, what is your take on
17:19
this man? I mean like it's official.
17:22
Trump is a crypto president. Trump is a crypto president.
17:25
He ain't a Bitcoin president. Now Bitcoin falls into crypto.
17:28
So you know, but you know, he, he doesn't believe in the whole
17:33
Bitcoin only. That's very, very clear.
17:37
And he's, you know, putting Bitcoin, I wouldn't say on equal
17:42
footing, but he's, he's, he's putting in the, he's putting a
17:45
lot of a lot of poopy in the same basket as Bitcoin, right?
17:49
And a lot of these CE OS are using the US government as exit
17:53
liquidity, essentially, you know, like XRP, like those guys
17:56
just created that out of thin air, right?
17:58
And they're just like, oh, the US government's going to buy my
18:01
bags, you know, like, and again, again.
18:05
And, and I do put a lot of blame into, I do put a lot.
18:10
I just don't want to blame anyone specifically.
18:12
I think it was like just a community drop ball.
18:16
Like as a community, I think Bitcoiners need to drop the
18:21
hubris of, Oh my God, Bitcoin is the best money the world has
18:24
ever seen. It is.
18:26
And I think we're going to win regardless.
18:28
But I think our hubris is the reason that we allowed the
18:33
altcoin lobby to get a jump on us the way it did.
18:38
And simple. Now there's people that don't
18:40
think a strategic Bitcoin reserve by the United States is
18:44
a good idea, like Nick Carter being one of them.
18:48
There's other people. Mr. Hoddle is another one as
18:51
well. Like, you know, you want the
18:53
government to, you know, hold as little, as little Bitcoin as
18:58
possible. And you want individuals taking
19:00
Bitcoin into self custody to hold as much Bitcoin as
19:02
possible, right? So there's that outlook as well.
19:05
But I'm at this point where, you know, like, I obviously want the
19:11
number to go up. I want the price to go up.
19:13
I think Opti, you're on that boat too.
19:16
And you know, we want the price to go up.
19:18
And I think obviously if the US government buys Bitcoin, starts
19:22
smash buying Bitcoin like sailor, I think the number is
19:24
going to go up without a shadow of a doubt, right?
19:27
So anyways, Opti, what's your take on this?
19:29
I went a little bit of a of a rant.
19:32
That is the Monday episode. We are starting off strong.
19:34
What's your take, brother? Yeah, well, I mean, the last
19:37
point about kind of being bearish on a strategic Bitcoin
19:40
reserve is I've, I've kind of been leaning towards that
19:42
recently. I had when it was originally
19:45
announced, obviously I was super bullish on it.
19:49
And I think a lot of Bitcoiners, this is the only reason why they
19:51
voted for Trump in the 1st place is I saw some people on Twitter
19:54
say like, I voted for a Bitcoin strategic reserve, not a shit
19:57
coin strategic reserve. And, and I mean, are we really
20:00
surprised when he he launches on meme?
20:02
Coin at this point, you know, we were probably holding out some
20:05
doubts even though in the face of what's going on, it's
20:08
becoming very obvious he's a crypto president.
20:10
But again, like I've been saying for a while is as long as
20:14
Bitcoin is kind of left alone for the next 4 years, I think
20:17
it's going to be great for the industry.
20:19
People will understand that there's Bitcoin and there's
20:21
everything else. And you know this tweet, I do
20:23
kind of have a different take on this tweet personally that Nico
20:27
did. Obviously I'm disappointed about
20:29
the shit coins going in, but at this point in my surprise is
20:32
like, not at all. I I think we could all see the
20:34
writing on the wall, but I think the follow up tweet is more of
20:37
the signal than anything else where he said, obviously Bitcoin
20:41
and of course, you know, the mother of all shit coins will be
20:44
added to it. And I think that take and just
20:47
that wording there is kind of what we've been all been talking
20:50
about for a while. A lot of people have been kind
20:52
of wondering whether we're actually even going to get a
20:54
strategic Bitcoin reserve. Now, there's multiple times,
20:57
most multiple points where Trump is doubling down on the fact
21:01
that, yes, a strategic Bitcoin reserve is one of the focal
21:04
points of this administration. And I think him saying obviously
21:07
Bitcoin's going to be added to it.
21:09
And the fact that he kind of didn't mention it in the first
21:11
tweet, I think is, is really the signal here that he's obviously
21:15
like, look, it's Bitcoin. And then everything else, like,
21:17
of course, if we're going to do a strategic crypto or digital
21:21
asset reserve, Bitcoin's going to be the main thing.
21:23
And I did see like a, a graphic on Twitter, I think it was
21:28
coming from like CNBC or something where it was going to
21:31
be 30% Bitcoin, 70% the rest of the shit coins.
21:35
And you know, the very easy dunk is 70% of that portfolio is
21:38
going to go to 0. We know everything's going to
21:40
zero against Bitcoin. And Nico actually asked a
21:43
question, and I've been saying this for a while.
21:45
It's like, who are these lobbying groups that are pushing
21:47
all these other all coins? Well, we know the XRP, you know,
21:51
company, the Ripple company has been pushing XRP to get added.
21:55
Who knows what Charles Hodgkins is doing with ADA or Cardano.
21:59
I know he's probably doing something behind the scenes.
22:02
And let's not forget David Sacks is super invested in the Solana
22:06
ecosystem. So and then of course, Ethereum
22:08
is the biggest one. His sons are really big on
22:11
Ethereum. They still haven't learned that
22:13
it's Bitcoin and everything else.
22:14
And so I think those are kind of the the forces that are pushing
22:18
all these other shit coins into this reserve.
22:21
But again, and I think the biggest point here is, look, we
22:23
are already seeing that Bitcoin is the world reserve currency
22:27
because obviously Bitcoin's going to be the main anchor of
22:30
this strategic reserve. Bitcoin's going to be the only
22:32
thing that's going to last through the test of time.
22:34
All this other VC coin funding, you know, exit liquidity that
22:38
we're seeing from VC funded companies, basically having the
22:41
taxpayers pay them off, you know, all this stuff is
22:45
ridiculous as far as I'm concerned.
22:47
And of course the Bitcoin Maxis are right here like it should be
22:50
Bitcoin only. And the most surprising part is
22:52
even Brian Armstrong is like it should probably.
22:55
Only be Brian Armstrong, Brian Armstrong, Arthur Hayes, Peter
22:58
Schiff, even like, you know, they're, they're just like, yo,
23:02
like, come on, guys. Like what?
23:03
What's going on here? Yeah.
23:04
So like, I'm not, I'm not surprised by this, but I think
23:08
as I've been saying for a while, you know, we've gone through
23:11
different eras in the Bitcoin eco system.
23:14
We did, you know, ICO initial coin offerings and then we did,
23:18
you know, the NFT stuff. And then now we're getting into
23:22
this point where we're seeing nation state shit coining.
23:25
And did we think that when Wall Street got into Bitcoin, they
23:28
weren't going to do some extreme degeneracy?
23:31
It's like, look, I get it, us Bitcoin Maxis are living in the
23:35
future. All of us that are Bitcoin only
23:37
are right, will be proven to be right.
23:39
But in the short term, people have to kind of learn their
23:42
lump, like they have to earn those lumps.
23:44
And now we're just seeing on a level we've never seen before.
23:47
And you know, am I personally happy about it?
23:49
Not really. Like I, it's, it does seem like
23:52
a let down. Obviously Nico got mad at me
23:54
because I didn't actually vote for Trump.
23:56
I, I got caught up in the voting stuff and the election and the
23:59
Bitcoin narrative and stuff. But am I surprised?
24:03
Not at all. Though I think another big point
24:05
of this that few are kind of missing is, look, I've been
24:08
saying for the last couple of weeks, I'm kind of bearish on a
24:10
strategic Bitcoin reserve at this point.
24:12
But what we're seeing is that the narrative around a strategic
24:16
Bitcoin reserve is a very powerful narrative right now.
24:20
And so if Trump is doubling down on Bitcoin being added or rather
24:24
crypto digital asset reserve, then, you know, other heads of
24:28
state are talking about something similar.
24:30
So it's going to be very interesting to see kind of what
24:32
Russia or China does in response to this.
24:35
What if China goes in and just does a, a straight Bitcoin only
24:39
strategic reserve? You know, like I think the, the
24:42
global geopolitics of this playing out right now is the
24:46
most interesting stuff going on. Because look, you kind of, I
24:49
think you did kind of misspoke a little bit, Nico.
24:51
You said now it's official. I think now we're just getting
24:54
more confirmation that this is a priority.
24:56
And I think that is kind of signalling to everyone around
24:59
the world that, hey, you have to take this Bitcoin thing very
25:02
seriously because we are taking it seriously.
25:05
And like I've been saying, you know, hey, we all know there's
25:08
two use cases for shit coins. One, it's the fastest way to
25:11
becoming a Bitcoin maxi. And two, it gives Bitcoin cover
25:14
to get out of the door. So look, I'm not happy about it,
25:17
but I think that in the long run, and you know, the next four
25:22
years, there's going to be extremely good for Bitcoin.
25:24
Hopefully we do get some really good regulations around Bitcoin,
25:27
you know, eliminating capital gains, etcetera.
25:30
That would be the the the real GOAT move here.
25:33
But I think Bitcoin's just going to continue to prove that this
25:36
is the free market of money. You want to go gamble on some
25:38
shit coins. You know, you want to lose your
25:40
life savings in a shit coin, think you're going to get rich
25:42
overnight, like go and have fun. But if you want to save in
25:45
something that's going to store your value long term, you want
25:48
to build generational wealth, you want to have something that
25:51
you can actually use in 5/10/20 plus years, it's obviously going
25:56
to be Bitcoin. So look, it's not perfect.
25:58
And I think all the everyone in the chat that's like getting
26:01
pissed off yeah, I get it. It's not perfect.
26:04
But in the long run, we're all going to see that Bitcoin is the
26:07
world reserve currency. Bitcoin is the only thing that
26:09
you can store and and everything else is going to go to zero
26:12
against Bitcoin. So that portfolio is going to
26:14
eventually just be 100% Bitcoin because all the shit coins are
26:17
going to fail. So I, I don't know, it's hard
26:19
not to look at this as a win. Obviously I'm getting trolled
26:23
saying that I'm glazing Trump right now, but hey, you know,
26:25
big daddy Trump wants to pump our bags.
26:27
Like how can we get mad about this?
26:29
Like pump our bags, Trump, you're not doing a good job
26:31
pumping my bag so far. So you know, I good thing I
26:34
didn't vote or I'd take it back, although that's not how it
26:37
works. Hey, we're going to win.
26:39
We're dude, it, it's it's very simple, like Bitcoiners, Bitcoin
26:43
Maxis are right, But hey, they're still learning the you
26:47
know, and and are we surprised that America right now, the
26:50
world of Fiat, the world reserve holder of that position are Fiat
26:55
Maxis? Like, come on, guys, they they
26:57
still have to learn what's going on.
26:59
They're going to get wrecked. You know, if I was you out
27:01
there, I wouldn't be buying these shit coins.
27:02
I'd just buy Bitcoin. That's what I do.
27:04
That's what I recommend to everyone.
27:06
Just buy Bitcoin. Yes, we might see, you know,
27:08
some pump and dumps in the shit coin space, but Bitcoin's the
27:11
only thing that's going to last the test of time.
27:13
Yeah, 100 percent, 100%. I think we have to take we have
27:17
to take the the WS when we get them.
27:19
And I think that this is definitely a a big W for for
27:23
Bitcoin and for the industry. And I think, you know, it's a
27:29
two party system in the United States.
27:32
And you know, like we, we either had the choice between an
27:36
administration that was hostile towards the entire industry and
27:40
an administration that was not just pro Bitcoin, but pro the
27:45
entire industry as well. And that's the decision we had
27:48
to make, right? So I think it's a net positive
27:52
overall. Like I said, I think our, our,
27:54
you know, our bags are going to definitely pump without a shadow
27:57
of a doubt. And I think this is positive and
28:01
I think it's going to allow Bitcoin entrepreneurs to, you
28:03
know, build out and the, you know, build out without fear of
28:06
persecution. Now, one thing that I'll say as
28:09
well is like, one thing that I'll say as well is like, I
28:13
think everyone has to remember and understand that, you know,
28:19
Bitcoin is doesn't need any special privileges.
28:24
Bitcoin will win based on its characteristics alone.
28:29
And if we're so true, if we're so right on that, you know, it's
28:35
just going to continue to show. Like if you look at all these
28:38
alt coins, whether it's Cardano, XRP, you know, Solana, none of
28:45
them, they've perhaps made all time highs in dollar terms, but
28:49
none of them have made all time highs in Bitcoin terms.
28:53
In Bitcoin terms, none of them have made all time highs.
28:57
So we're going to continue sticking to that point.
29:00
Everything goes to zero against Bitcoin, regardless of whether a
29:04
government is buying it or not. Bitcoin's the only thing that
29:08
has absolute scarcity. So yes, I'm going to take this
29:12
as a win. Is it perfect?
29:14
No, but is it still a massive win?
29:16
Yes. The United States is officially
29:18
launching a strategic Bitcoin reserve. the United States
29:22
government's officially going to be holding Bitcoin, which is
29:26
absolutely bullish. All right, everybody, before we
29:28
start the show, we have a loaded show for you guys.
29:31
So much news, so much things to get to 1st, we're going to talk
29:34
about the shift of the Overton window.
29:37
Trump is talking about Fort Knox, Elon is talking about
29:41
Social Security being a scam. Elon follows Senator Cynthia
29:44
Lummis and Elon sends that Keynes was a great evil.
29:50
Keynes is all about, you know, all about the whole modern
29:54
monetary theory. Keynes was all about central
29:57
banking, this top down approach to money and government and all
30:01
this. You can make a very solid
30:03
argument that, and I tweeted this over the weekend that the
30:06
world, it's not a coincidence that the world wars, you know,
30:10
happened after the establishment of the Federal Reserve.
30:12
So we're going to be talking about that.
30:14
And then during the news segment, we're going to be
30:17
giving you an update regarding the IMF loan to El Salvador.
30:21
Apparently there is further restrictions on to Bitcoin.
30:25
Why does the IMF care so much about what's happening in El
30:27
Salvador? Could it be because they are
30:30
scared of it? Anyways, I do want to give a
30:31
very special shout out to Simply Bitcoins lead sponsor, the best
30:36
place by far to build your automatic self custody
30:39
bitcoinstackbitcoinwell.com. To get started go to
30:44
bitcoinwell.com use promo code Simply BTC.
30:48
You get 3 tosses into the Bitcoin wishing well for an
30:52
opportunity to win up to 1,000,000 Satoshi's.
30:54
Enable your independence with the fastest and safest way to
30:56
buy Bitcoin on chain or via the lighting network in Canada and
30:59
the USA. What makes Bitcoin well unique
31:02
and special and different is that it's completely non
31:05
custodial platform. What does that mean?
31:07
That means that when you buy Bitcoin on Bitcoin well, as soon
31:10
as the funds clear, it goes straight to yourself.
31:12
Custody Bitcoin wallet address doesn't even give you the
31:15
ability to leave your funds on the exchange.
31:18
Also, if you're a higher net worth individual looking to buy
31:20
$50,000 worth of Bitcoin or more, check out Bitcoin Well
31:24
Infinite. It's a white glove experience.
31:27
So if you're tired of dealing with UI, you're tired of dealing
31:31
with very slow support emails, and you want a real human being
31:35
every time you want to buy or sell Bitcoin, you definitely
31:38
want to check out Bitcoin Well Infinite.
31:41
Go to bitcoinwell.com/OTC to get started.
31:45
If you're an American, you can now get paid in Bitcoin sent
31:48
directly directly to your personal Bitcoin wallet, share
31:50
your Bitcoin well, direct deposit details with your
31:52
employer, set your Bitcoin slash dollar split and receive SAT
31:57
instead of Fiat with every paycheck.
31:59
What are you waiting for? Head over to bitcoinwell.com
32:03
today and start enabling your independence.
32:07
All right, everybody, let's hit the numbers.
32:08
We have tons to talk about. I want to tell you guys about
32:18
our sponsor stamp seed. Is your Bitcoin and cold storage
32:22
really secure? Are your seed words really
32:26
secure? Stamp Seeds Do it yourself kit
32:29
has everything you'll need to hammer your seed words into
32:32
commercial grade titanium plates instead of writing them down on
32:38
paper. Don't do that.
32:39
Paper sucks. You want to literally stamp your
32:43
seed into this plate of titanium.
32:46
Your words are actually stamped into the metal plate with this
32:50
hammer. So once your words are in, they
32:52
aren't going anywhere. No risk of the plate breaking
32:56
apart and your pieces falling everywhere.
32:59
Titanium stamp seeds will survive nearly triple the heat
33:02
produced by a house fire. They are also crush proof,
33:06
waterproof, non corrosive and most importantly, because this
33:10
is generational wealth time proof, all things that paper is
33:15
not allowing you you to huddle your Bitcoin for the long haul.
33:20
I mean, here is the plate that they crushed, they put in water,
33:24
they put a blowtorch to it and as you can see, the words have
33:28
survived. Stamp your seed on stamp seed
33:32
and you can use promo code simply to get 15% off anything
33:37
on their store. Head over to stampse-ed.com
33:39
today. All right, everybody, I do want
33:46
to give a very, very special shout out.
33:50
Oh wait, Opti, we got a super chat.
33:52
Bro, I'm getting distracted. I apologize.
33:54
Let me pull up the numbers. Sorry about that.
33:56
I do want to give a very special shout out to the Super chat by
34:01
Roc VTM. Bitcoiners need to be trolled to
34:05
man up. Appreciate the appreciate the
34:07
$19.00. At the time of recording, the
34:09
Bitcoin price is 90,070 block height 886,167 sats per dollar
34:16
1110 market cap 1.7 trillion Bitcoin versus gold market cap
34:23
8.86% percentage issued 94.43% decline from all time high
34:30
negative 17.5% realized monetary inflation .96%.
34:36
In the grand scheme of things, things are just getting warmed
34:40
up. They're just getting started.
34:42
This continues to go down. This is my favorite stat out of
34:45
everything. The price okay, great 90,000
34:48
sweet block height love that SAS per dollar great, but right here
34:53
because it just it embarrasses Fiat currencies like it it it
34:57
proves it proves that Bitcoin is just better money right anyways,
35:03
so let's talk about the shift of the Overton window again.
35:07
If you guys are new to the show, we talk about the over.
35:10
We talk about the Overton window a lot The Overton window is the
35:14
acceptable window of political discourse and essentially our
35:18
job as bitcoiners is to move that window so that the idea of
35:23
a strategic Bitcoin reserve. The idea is Bitcoin as as money.
35:26
The idea of all the Bitcoin ethos that we have about
35:30
individualism, meritocracy, freedom, free markets, right?
35:37
Those ideas start to become extremely popular with the
35:41
mainstream, right? That's our, you know, that's our
35:44
job as bitcoiners, just to really move that Overton window.
35:47
But we have to do it carefully. If you do it too abruptly, the
35:52
problem is that if we were talking about a strategic
35:55
Bitcoin reserve five years ago, it it would be considered
35:59
radical. It would be a, a radical model.
36:01
Like no one would take it seriously.
36:03
Like we, we seen this when BlackRock was, was, was talking
36:08
about Bitcoin. They're like, it's an index of
36:09
money laundering. Fast, Fast forward five years
36:11
later, they're like, you know, this Bitcoin thing is amazing,
36:14
right? That is the Overton window
36:16
shifting, right? So we got to continue to shift
36:19
it. We've done so much in the last
36:21
year in terms of shifting it. A year ago, if I would have told
36:26
you everything that would have happened, you would not have
36:28
believed me. So we've done an incredible job.
36:30
But when we have this momentum, we have to keep our foot on the
36:35
gas pedal and keep going 100 miles an hour.
36:40
And, you know, it's very difficult to have momentum.
36:43
When you have momentum, you definitely want to use it.
36:45
So First things first. Here's Trump once again talking
36:49
about Fort Knox. And he uses the word stolen.
36:54
So he's basically saying what all of us are thinking, what we
36:57
were talking about when we were when we were, what we were
37:00
talking about on simply Bitcoin. Last time we brought up Fort
37:03
Knox. Is the gold really there?
37:05
Did they or is it stolen? Did they steal it?
37:07
Did they take it? Here's Trump.
37:10
We have found hundreds of billions of dollars of fraud.
37:14
So far, and we've just started, we're actually going to Fort
37:18
Knox to see if the gold is there because maybe somebody stole the
37:22
gold. Tons of gold, some of the
37:25
agents. So I think it was actually there
37:27
was a lot of genius in sending it.
37:29
We're trying to find out if people are working and so we're
37:31
sending a letter to people. Please tell us what you did last
37:34
week if people. Don't respond.
37:36
It's very possible. That.
37:38
There is no. So it's like a, it's kind of
37:43
like a interesting rabbit hole, right?
37:45
So, you know, and we have to remember, like Fort Knox was
37:49
specifically built for the six one O 2 order.
37:54
It was specifically built to house the gold that the US
37:59
government stole from American citizens, right?
38:02
How crazy is that? So like the the government was
38:05
basically saying it's illegal to hold a certain type of metal
38:11
that like that is the argument like you can't hold this type of
38:14
metal. It's illegal for you to do that.
38:16
That is nuts to me. That is crazy.
38:19
Now, could you imagine the implications?
38:21
Because the whole, the reason that they, the, the way that
38:25
they justified it was like, listen, we're going to hold the
38:29
gold on behalf of the American people.
38:32
And what we're going to do is we're going to give you dollars
38:34
in return. But don't worry, you can
38:36
exchange the dollars for the gold and we're going to be
38:39
holding it on behalf of the country.
38:41
Could you imagine the implications if they audited
38:45
Fort Knox and the gold wasn't there?
38:49
The implication would be that they just stole it.
38:51
They they stole it, that they took the gold from people and
38:56
they stole it. They used it for themselves.
38:59
It was never on behalf of the people.
39:01
Because that's the that's one of the excuses that you always
39:04
hear. It's for your good.
39:06
No, no, no, no, no, no. It's for your good.
39:08
And what you're trying to do is you're trying to obfuscate what
39:11
you're really doing, what your real intentions are, and you're
39:14
saying it's good for the people. No, no, no, it's good for you,
39:17
right. So when you hear central bankers
39:19
talk about, oh, we need a central bank digital currency in
39:23
order to ensure sovereignty, No, no, no, no, no, you need a
39:27
central bank's digital currency to ensure your employment.
39:30
That's really what it's about. It has nothing to do with the
39:33
benefit of people. If you want sovereignty as an
39:36
individual, buy Bitcoin and put into self custody.
39:38
Nothing else will give you better sovereignty than that,
39:41
full stop, right? It?
39:43
And it's uncomfortable for governments, right?
39:45
Because governments have been the issuers of money, right?
39:49
It's a very difficult conversation for sure.
39:52
So moving on to the next shift of the Overton window, here's
39:58
Elon Musk and he went on the Joe Rogan Experience podcast.
40:02
And of course, he's talking about all his latest experiences
40:06
with DOGE and all these things. But once again, he brings up
40:11
Social Security. Now, Social Security is very
40:13
interesting. Social Security was established.
40:17
During the same presidency that the six one O 2 order happened,
40:20
which was the FDR president presidency, FDR was the only
40:24
American president that ran for more than two terms at at his
40:29
time during his presidency, the top income bracket was 90
40:33
percent, 90%. And what's really interesting
40:36
about Social Security is that it it automatically gets deducted
40:41
from your paycheck if you're AW2 employee in the United States,
40:45
right? So now you have the world's
40:47
wealthiest man and also the, you know, dude literally invented
40:52
self landing rockets and self driving cars.
40:55
And he's explaining why Social Security is a Ponzi scheme,
41:00
which is quite interesting. Again, it's moving the Overton
41:03
window. It's moving the Overton window
41:05
in terms of, wait a second, I trusted the government with my
41:10
gold. I trusted the government with
41:12
Social Security. But the government isn't doing
41:15
good, doing good back by me, right?
41:18
And I think we're seeing that with the whole dodge thing,
41:21
right? We're seeing that with all the
41:23
fraud and capital misallocation that's been discovered.
41:27
Like people are starting to ask the questions like wait a
41:29
second, like what do you mean? If you're a federal employee,
41:32
you could just work from home while I slave away.
41:35
You don't even have to answer 5 questions as to why, you know, 5
41:39
things that you did this week. Like you have a problem against
41:42
that. Like, you know, like what do you
41:43
mean? You want to audit us, the
41:45
government? You can't audit us.
41:47
We can only audit you. Like, and then you're thinking
41:49
about it. You're like, wait a second.
41:50
Like is is this a government by the people for the people, or is
41:54
this a government by the government for the government,
41:56
right. And again, the reason that this
41:58
is also important is because it leads you down the rabbit hole
42:04
of which I think is the inevitable conclusion.
42:07
The question isn't what is money?
42:09
The question is what is government?
42:12
What is the role of government in society, right?
42:16
And the bigger the government historically has shown that the
42:21
more oppressive that government is, the more oppressive the
42:24
government is, the less free market is happening, the less
42:28
free market, the less prosperity, right?
42:30
So this is something that I think the world is is really
42:33
waking up to. I mean, and this is a worldwide
42:36
phenomenon. This isn't just happening in the
42:38
United States. The first libertarian candidate
42:41
in world history, President Xavier Malay, was elected in
42:45
Argentina. And apparently he's doing
42:47
really, really well and economically.
42:49
Right. So anyways, here's a clip from
42:51
Joe Rogan on the Joe Rogan podcast.
42:54
Well, I mean, the government's one big permit scheme, if you
42:56
ask me. Yeah.
42:57
Well, you, you can talk about Social Security is, is the
43:01
biggest Ponzi scheme of all time, right?
43:03
Explain that. Oh, so well, people pay into
43:07
Social Security and, and the money goes out of Social
43:11
Security immediately. But the obligation for Social
43:14
Security is your entire retirement career.
43:17
So you're, you're paying with your, the kind of people you're
43:23
paying like, like if you look at the future obligations of Social
43:26
Security, it far exceeds the, the tax revenue far.
43:33
Have you ever looked at the, the debt, the debt clock?
43:36
Yes, OK, there's, there's, there's our present day debt,
43:40
but then there's our future obligations.
43:42
So when you look at the future obligations of Social Security,
43:46
the actual national debt is like double what what people think it
43:51
is because of the future obligations.
43:56
So basically people are living way longer than expected and
44:03
there are fewer babies being born.
44:05
So you have more people who are retired and get that live for a
44:09
long time and get retirement payments.
44:12
So the future obligations. So however bad the financial
44:15
situation is right now for the federal.
44:21
So yeah, it's it's kind of like This is why I keep bringing up
44:26
this term. People are making fun of me in
44:27
the chat, right? The Overton window is shifting.
44:30
People are kind of waking up to, you know, to what is the role of
44:35
government in society, right? That I think that's really.
44:38
And again, is it worth it to have government so big in
44:42
society? Are they really doing the
44:44
things, you know, are they really doing things that are
44:47
benefiting me? And here in the United States, I
44:50
think that's a big, that's a big reason as to why Trump was
44:53
elected, right? I think people were sick and
44:55
tired of and talk about shifting the Overton window.
44:58
People are sick and tired of like the endless wars.
45:02
I mean, I remember that there was one time where Trump was
45:05
one-on-one of the debate stages. I think this was like in
45:07
20/16/2017. And like, you know, back then,
45:13
it was still like, you know, and talk about the Overton window,
45:17
it was still like socially acceptable that the war in Iraq
45:20
was a good idea. And then Trump was like, no, it
45:22
was a terrible idea. And you saw all the politicians
45:24
on stage just with their mouths wide open, like, Oh my God, I
45:27
can't believe he said that. Right.
45:29
So essentially what's happening is the Overton window is
45:32
shifting more and more and more and people are realizing, wait a
45:35
second, if there was all this fraud that was discovered, if
45:39
the gold isn't there, like, why am I paying Social Security if
45:43
I'm not going to get any of that?
45:45
The government is like 50, you know, trillion dollars in debt.
45:49
Like, why are we funding wars overseas if people, our
45:52
generation can't even make rent? Like we can't even afford a
45:56
house? Like what what is going on here?
45:59
Right? There needs to obviously be a
46:00
big shift. And again, talk about shifting
46:03
the Overton window. Elon Musk is now following the
46:07
Bitcoin senator. Senator Cynthia Lummus had an
46:09
interview with her in DC. You guys should definitely check
46:11
it out. It's on the simply Bitcoin
46:14
channel. And last but not least, again,
46:18
Elon Musk is referencing Keynes, right?
46:21
Keynes was a great evil and he's responding to David Sachs.
46:25
David Sachs is the AI in Cryptozar, and he says paying
46:29
people to dig holes and fill them up back up increases GDP as
46:34
it is currently measured, even though that this activity has no
46:37
value. Similarly, hiring an extreme
46:39
number of regulators to vex entrepreneurs nominally
46:42
increases GDP in the short term, even though it reduces output in
46:46
the long term. The flaw of Keynesianism is to
46:49
see all government spending as stimulus, even when it's value
46:54
destroying, right? Sailor replies and he says
46:57
Cairns enriched the overlords Satoshi empowered the people so
47:03
you see where this is going right just connect the dots
47:06
everyone just connect the dots for me cans was a great evil
47:09
sailors responding and Elon Musk follows the Bitcoin senator just
47:16
just put just put two and two together right all roads lead to
47:19
Bitcoin. I can't emphasize that enough.
47:21
The question that the answer that the the question that the
47:29
question that you guys have to ask yourself is, you know,
47:35
again, it's the question that you guys have to ask yourself is
47:40
not what is money, but what is government.
47:43
And I think if you ask the question what is money, you'll
47:47
inevitably ask the question, what is government eventually.
47:51
And I think that's what's happening anyways.
47:56
What are you thinking Opti? Yeah, well, I mean, I know
47:59
you're getting trolled for the Overton Window stuff, but this
48:02
is actually what's happening. Yes, it moves a lot slower than
48:05
we would like to see it happen, but I think the fact that we're
48:10
hearing these conversations, or rather more of these rhetorical
48:13
questions is a good thing. This is why I'm a Bitcoiner in
48:16
the 1st place, because before I even found out about Bitcoin, I
48:19
learned that the whole system, the whole Fiat system is a fraud
48:22
and that it's all fake and that that Fiat system is actually
48:26
the, the giant Ponzi scheme. And now that we're seeing these
48:30
conversations happen, two things I think should happen after
48:35
people realize, one, that maybe we don't have all the gold that
48:37
we claim we have. And two, the biggest thing about
48:41
this whole DOGE, you know, Department of Government
48:44
efficiency thing is, is that I think few people really
48:48
understand just how big the unfunded liabilities are that
48:52
that the government has claimed for people.
48:54
And that's the biggest thing that is most likely never going
48:57
to get on get touched. Like, yes, we can talk about
49:00
dough delimiting like $2 trillion of waste, etcetera, but
49:04
the biggest spending that the government does is these
49:06
liabilities and of course the military industrial complex.
49:10
And those things are never going to get touched.
49:12
And, and if they do get touched, and that's when all hell breaks
49:15
loose, especially for all like our boomer parents out there
49:18
that will basically work their whole life.
49:21
And now they realize, wait, like I am never going to get Social
49:23
Security. Go to the.
49:24
It's at the bottom right, Nico, the very bottom.
49:27
Yeah, right there. Yeah.
49:29
Look at, look at all that. Look at all that money that the
49:32
government claims to owe the citizens and have no way of
49:37
paying it. Now, you know, I love this idea
49:40
of cutting government ways, cutting government spending, but
49:43
until we address this problem, nothing's really going to
49:46
change. But I do like the fact that
49:48
we're having these conversations, like I said
49:50
before I even found about Bitcoin, I, you know, understood
49:54
about the Fiat Ponzi that we live in, you know,
49:57
collateralized Social Security numbers, etcetera, the creature
50:00
from Jekyll Island, some just like basics of Bitcoin,
50:03
understanding of of you looking into Bitcoin.
50:06
But the fact that we're we're starting to see these
50:08
conversations happen or even, you know, as much as you guys
50:10
know, I don't like Elon Musk. Hold on, as as much as you guys
50:15
know, I don't like Elon Musk or rather am slightly skeptical,
50:19
but the, some of the stuff he does, you know, some of his
50:21
connections, etcetera. I do like the fact that we are
50:24
talking about this stuff because maybe more people, especially as
50:28
we're seeing, you know, like the bro culture coming out of Joe
50:31
Rogan. Maybe if all these people start
50:33
to wake up and realize, wait, maybe everything isn't exactly
50:36
as I've been told and maybe this whole system is a scam.
50:39
What are the alternatives? We do finally start to get more
50:43
people into Bitcoin. So do I think it's enough?
50:46
Obviously, we, we like to talk about action.
50:48
As someone was saying, you know, I vote with my money.
50:50
I I put as much as I can into Bitcoin.
50:52
I only hold Bitcoin. I'm a Bitcoiner and I love
50:55
seeing these conversations. But as you can tell, we are
50:58
still kind of in the early innings of like what, you know,
51:02
a lot of people like to call the great awakening here where
51:04
people realize, hey, maybe everything isn't exactly as you
51:07
see. Maybe we're living in the giant
51:09
Truman Show here. And part of that happens with
51:12
the the Fiat currencies backing the media conglomerates and, you
51:16
know, people not realizing that this is all backed by paper
51:19
money, that there is fake money out there.
51:22
It is backing everything. We're all working for fake money
51:25
and nothing's going to change until we address that
51:27
fundamental problem. But again, so many people were
51:31
basically promised this money for when they retire, you know,
51:34
work 40 plus years and you know, when you're 60 plus, you'll be
51:37
able to, to get, you know, your retirement money and life will
51:41
be good. And now people are realizing
51:43
like, wait, maybe there is no money.
51:45
Maybe there's no gold in Fort Knox.
51:48
And that's why I think a lot of us millennials are just so help
51:52
betting and all in on Bitcoin, because either we inherently
51:56
know or you've done the research and you realize like there is no
51:58
money for you. So you can't you can't bet on
52:01
the government, you know, saving you when you retire.
52:04
So you got to do something and protect yourself.
52:06
And of course, we think the best way to do that is for you guys
52:09
to start saving in Bitcoin. You know, you don't have to
52:11
become a degenerate trader. You just have to slowly but
52:14
surely save in Bitcoin. Make sure that you're you're
52:16
storing your excess in Bitcoin. And soon enough, as more people
52:20
realize that, hey, maybe this Fiat system is a giant Ponzi
52:24
scheme, you're protected. But we're seeing that people
52:28
like their slumber. People like to, you know, get
52:31
get load into that false sense of, you know, complacency and
52:34
like, no, the people in power know what they're doing.
52:37
Or even worse, you know, like we just need to elect the right
52:40
people in power and they'll, you know, we just need the right
52:43
people, the right smart people to control the economy and
52:46
things that work out. We're like, no, it's
52:48
fundamentally rotten at its core.
52:50
And This is why we're Bitcoiners.
52:52
This is why we are all here talking about a whole new
52:55
monetary system because the one that that we were promised is
52:58
not as it's designed, or rather it's designed in a certain way
53:02
to steal from the average everyday people.
53:05
And so, you know, I love that these conversations are
53:07
happening. Hopefully this wakes up more
53:10
people, more people realize, hey, maybe there is, you know,
53:13
some fuckery afoot. And I and I have to protect
53:15
myself. And I think this is where we're
53:17
moving. Not only is number going to go
53:19
up, but freedom's going to go up.
53:21
Responsibility's going to go up. People are going to kind of take
53:24
back their own lives and realize, hey, I can't trust,
53:26
trust a politician to have my best interest in mind when we
53:30
all know that it's all backed by economics.
53:32
It's always going to go back to the money and you have to
53:36
protect yourself. It's just very simple, but a lot
53:38
of people are afraid of this, or rather, they don't have time.
53:41
You know, a lot of people are just working, working their
53:43
jobs, don't have enough time to understand economics and do all
53:46
the readings. But hey, they're going to learn.
53:48
And hopefully we can get more people off the Fiat system and
53:52
into the Bitcoin safety rafts. And This is why we constantly
53:56
do. This is why our life's mission
53:57
is to, you know, give you guys the most entertaining show
54:00
possible so that more people come in and realize, oh, I have
54:04
to fix my own life. I have to save in Bitcoin
54:06
because we're on the Titanic and it's sinking so.
54:11
You know. Stay humble.
54:13
This is the way. Amen, Amen.
54:15
We're definitely winning Opti. Nothing like an Opti rant on
54:18
Monday. I do want to give a shout out to
54:20
the live stream. 2749 live viewers on Twitter, 905 live
54:27
viewers on YouTube, and 110 live viewers on Rumble.
54:31
You guys are, If you guys are enjoying the show, smash that
54:34
like button. We blew past our goal of 300
54:37
likes on on YouTube, so I'm going to move it up to 500 likes
54:41
on YouTube. If you guys are enjoying the
54:43
show, there's 900 of you guys smash the like button.
54:46
So far we've received $30.00 in super chats.
54:50
We appreciate you guys. We love love you guys.
54:52
I think we should just announce it right here right now guys cuz
54:57
Opti's been wanting to wine has been want to guys.
55:01
Our new merch has just dropped. You guys could check out the
55:06
link to it all brand new designs with the new logo, the T-shirts.
55:11
This is extremely high quality. We pay attention to detail it's
55:17
very, very high quality guys. This isn't drop shipped.
55:20
We buy the inventory beforehand. It's really, really well done.
55:25
So if you guys want to support us, go check out the latest
55:28
limited edition merch drop simply Bitcoin reborn with the
55:33
new logos. This hoodie is ridiculously
55:36
comfy. So is the shirts, so get yours
55:39
while supplies last because we really didn't buy.
55:42
Yeah, we. Didn't.
55:43
We didn't, we didn't. We definitely didn't buy enough.
55:45
Also, for everyone, they are a little oversized, so you know,
55:50
just keep that in mind. Yeah, so just keep that in mind.
55:53
I'm going to put the link in the live chat so you guys can check
55:58
it out. Get yours while supplies last.
56:02
It's yeah, we we just fill out quickly.
56:05
We'll, we'll, we'll do a new batch.
56:06
No, but it will be a new design. It won't be this design.
56:10
It's just limited, bro. This is scarce.
56:12
All right, everybody, let's get to news.
56:14
We have so much to talk about today, guys.
56:16
Stay tuned. We have an update regarding El
56:19
Salvador, the IMF loan and further Bitcoin restriction
56:24
implications. And then Opti, what do we have
56:26
during the culture segment? Yes, so Parker Lewis dropped a
56:30
great article and as we've been seeing a trend, there's been,
56:34
you know, a recent trend about not calling Bitcoin money or
56:37
currency and call it a commodity.
56:38
And Parker Lewis just I think completely destroyed that
56:42
narrative. So don't be afraid of calling
56:43
Bitcoin money and or a currency. So I'll break down a little bit
56:46
of it. We'll have a little bit of
56:48
discussion. I think it's a great piece and
56:50
and people in the chat were actually asking about it today.
56:53
So perfect culture for you guys today.
56:55
We are running along. So I might not be able to read
56:57
the whole thing. I'll I'll have to pick and
56:59
choose. All right everybody, we'll get
57:01
the simply Bitcoin merch while supplies last.
57:03
Go to simplybitcoin.com. You'll find it there.
57:07
Anyways guys, let's get to news. We have tons to talk about.
57:09
We we will be right back. I want to give a shout out to
57:14
our sponsor Casa. Bitcoin security matters, but
57:17
managing private keys can sometimes be complicated,
57:20
especially multi sig. What if you can secure your
57:22
Bitcoin without worrying about losing a seed phrase or giving
57:26
up custody With Casa, you can completely control your Bitcoin
57:30
with multi key security. So even if one key is lost or
57:33
stolen your funds stay safe. No single point of failure, no
57:38
stress. That's what I absolutely love
57:41
about these guys. They make taking Bitcoin and
57:43
into self custody incredibly easy with their best in industry
57:47
user experience through their app.
57:49
I've been personally recommending Casa for years now
57:51
to my friends and family because they will get all the benefits
57:55
of multi key self custody security without the hassle of
57:59
having to learn complicated UI. And if you're thinking of one
58:02
day passing on your Bitcoin to the next generation, their
58:05
inheritance plan has you covered.
58:07
Also, if you're a business looking to add Bitcoin to your
58:10
treasury, do it the secure way with Casa.
58:13
For business to get started, go to Casa dot IO today and get 5%
58:18
off Casa Standard or Casa Premium with promo code simply.
58:30
You need liquidity without having to sell your Bitcoin.
58:33
For more than six years now, Leaden has been the trusted
58:37
choice for Bitcoin backed lending with transparency,
58:41
security and trust at their core.
58:44
I absolutely love these guys and I personally have not only an
58:48
account with them but also alone.
58:50
And some of the key features that I love about Leaden is the
58:53
fact that there are no monthly payments.
58:55
You pay at the end of the term. You also have the ability to
59:00
roll over the loan as well, and you could pay it back whenever
59:05
you want. Essentially, what they do is
59:07
that they help their clients unlock the liquidity of their
59:10
BTC, allowing you to huddle while still accessing the wealth
59:14
of your Bitcoin. They've been battle tested with
59:17
their focus on transparency, security and trust, allowing
59:22
them to build a proven track record of client success and
59:26
security, helping 10s of thousands of clients harness the
59:30
value of their digital assets with confidence and Peace of
59:33
Mind. Learn more about what your BTC
59:37
can do for you. Check out leaden dot IO today.
59:45
All right, everybody, we are back.
59:47
All right, ladies and gentlemen, let's talk about that.
59:49
We have an update for you guys regarding Freedom Country.
59:53
IMF board approves $1.5 billion loan to El Salvador with further
59:59
Bitcoin restrictions. So it seems like there's more
1:00:02
restrictions, there's more, more requirements to that IMF loan.
1:00:10
Also, I saw a, an, an article by the Economist, which is, I would
1:00:17
say like a kind of like very, very Fiat newspaper.
1:00:27
And check out this headline. El Salvador's wild crypto
1:00:31
experiment ends in failure. It's curtailment is the price of
1:00:36
an IMF bailout and one worth paying?
1:00:40
I mean, like, yeah, I, I, the experiment didn't fail because
1:00:49
it failed. The experiment failed because
1:00:51
the IMF like forced El Salvador to to do something.
1:00:57
Also breaking news, we are dumping right now hard back to
1:01:01
87 K Ladies and gentlemen, why kiss in the chat saying, you
1:01:08
know, Trump sold, which is hilarious.
1:01:13
Yeah, man. I mean, it was it was nice while
1:01:15
it lasted. Everybody.
1:01:16
All right, so back to the news. What are we talking about?
1:01:20
IMF Board approves $1.5 billion loan to El Salvador with further
1:01:24
Bitcoin restrictions The IMF Executive Board approved a $1.5
1:01:29
billion loan for El Salvador with a condition that the
1:01:32
country will further restrict the government's Bitcoin related
1:01:34
economic activities, including transactions and purchases of
1:01:38
Bitcoin. The approval grants El Salvador
1:01:42
an an immediate $113,000,000 disbursement.
1:01:46
The IMF says the deal will attract more multilateral
1:01:49
support, totalling $3.5 billion in financing over the next 40
1:01:54
months. Last month, El Salvador's
1:01:56
Legislative Assembly amended the Bitcoin law, removing Bitcoin
1:02:00
status as legal tender while retaining the words legal
1:02:04
tender. As a result, accepting Bitcoin
1:02:06
by private businesses is not voluntary, and it cannot be used
1:02:10
to settle taxes or government debts.
1:02:12
Additionally, the government has been reducing its involvement
1:02:15
with the Chivo wallet quote. The potential risks of the
1:02:18
Bitcoin project are being addressed in line with Fund
1:02:21
policies and with Fund advice to the authorities.
1:02:24
Prior actions include legal reforms that have made
1:02:27
acceptance of Bitcoin by the private sector voluntary and
1:02:30
ensure that tax payments are made only in U.S. dollars.
1:02:34
Transparency of the public crypto E wallet has been
1:02:37
strengthened, and the government plans to gradually unwind its
1:02:41
participation in the E wallet, the IMF acknowledged in the
1:02:44
press release. Despite these changes, El
1:02:47
Salvador's administration seems committed to Bitcoin.
1:02:50
The country's ambassador to the United States, Milena Mallorca,
1:02:53
interviewed her at the Plan B forum in El Salvador.
1:02:56
Go check that out. And Stacy Herbert from the
1:02:58
Bitcoin Office continues to reaffirm that El Salvador's
1:03:02
Bitcoin country. Besides, El Salvador has
1:03:05
continued adding Bitcoin to its reserves and is currently
1:03:08
holding 6090 Bitcoin valued at more than $500 million.
1:03:14
And as you can guys see, you know, they got that IMF money.
1:03:18
Are they using that IMF money to stock the dip?
1:03:20
I mean, you can make a pretty good argument for that.
1:03:22
You never know. Moving on, how?
1:03:26
However, the IMF now claims that further program commitments will
1:03:29
limit government engagement in Bitcoin related economic
1:03:32
activities, including the purchase of Bitcoin.
1:03:35
Quote, Going forward, program commitments will confine
1:03:38
government engagement in Bitcoin related economic activities as
1:03:42
well as government transactions in and purchases of Bitcoin was
1:03:47
stated in a blog post. The IMF also noted that further
1:03:50
steps include enhancing the the regulation of the country's
1:03:53
digital asset industry in line with, quote, international best
1:03:57
practices. Regulation and supervision of
1:04:00
digital assets will be enhanced in line with evolving
1:04:03
international best practices, the IMF said.
1:04:06
OK, lot to unpack here, right? And remember, the legacy media,
1:04:12
as we've discovered, are essentially propagandists.
1:04:16
They, they, they're not media. I don't see them as media.
1:04:19
A lot of their funding we've discovered come from governments
1:04:22
themselves. And the way that this is framed
1:04:26
is, you know, bullshit. They're like, I'm sorry, I'm
1:04:29
going to use that word. Buchele buckles, right?
1:04:31
El Salmador's wild crypto experiment ends in failure.
1:04:34
It didn't end in failure. The IMF straw like strong armed
1:04:40
El Salvador into making a certain decision and dangled 1.4
1:04:45
billion dollars over their head. Like no, you know, and again, it
1:04:51
didn't end in failure. All it did was, you know, now
1:04:54
Bitcoin is voluntary, which in my opinion it's the way it
1:04:57
should be, right? It's still considered a currency
1:05:00
in El Salvador. There is no capital gains
1:05:02
implication. So like yes, but Kelly
1:05:05
definitely had to give some concessions.
1:05:07
It's definitely not ideal, but this narrative from The
1:05:11
Economist is bullshit. And again, the the, the thing
1:05:15
that I will say, my own commentary is why does the IMF
1:05:19
care so much about Bitcoin being legal tender?
1:05:24
Why do they care so much? Why do they care so much?
1:05:28
This is a tiny country. This is a country that has a $32
1:05:32
billion GDP. Why do they care so much that,
1:05:38
you know, El Salvador wants to use Bitcoin as legal tender?
1:05:43
Like, why do they care? And the reason that I think they
1:05:47
care is because they don't want other countries doing that.
1:05:52
Because I think if other countries start doing that, they
1:05:54
lose control. And I think that's what it has
1:05:56
to come down to. I think the IMF is more so
1:06:00
concerned about control. And just like governments and
1:06:04
just like politicians we were talking about earlier, they try
1:06:08
to obfuscate it behind, oh, we're doing this for the public
1:06:13
good. Like we're seizing everyone's
1:06:15
gold for the public good. The Social Security is for the
1:06:17
public good. Bitcoin being legal tender is
1:06:20
for the public good. Like like, you know, like
1:06:24
Bitcoin not being legal tender is for the public good.
1:06:27
There there's, you know, it's going to cause financial
1:06:29
instability. You know what causes financial
1:06:31
instability? Fiat money, like Fiat money is
1:06:36
what causes instability, uncertainty.
1:06:39
It takes away people's ability to plan into the future.
1:06:42
Bitcoin provides a good alternative, especially if you
1:06:49
live in a country where you know, your your Fiat currency is
1:06:52
weak and the IMF just basically goes in there and it's just
1:06:57
like, no, no, we can't have any of that.
1:07:00
You know, like this is for your own safety.
1:07:03
Like, no, that's bullshit. I think the IMF is scared.
1:07:06
That's what I think. I think the IMF is really,
1:07:08
really scared of the Bitcoin experiment succeeding in El
1:07:13
Salvador, and they're trying to walk it back.
1:07:14
Opti, what's your take? Yeah, I mean, that's that's
1:07:17
definitely my take as well. Like, first of all, you know,
1:07:20
the IMF is one of the biggest, you know, institutions in the
1:07:23
world basically. And why do they care about what
1:07:26
a small 32 billion Central American country does with their
1:07:29
money? That I think is the biggest
1:07:31
signal here. And the fact that when they kind
1:07:34
of, you know, negotiated for this loan, that was the main
1:07:37
sticking point of, you know, you got to kind of back away from
1:07:39
Bitcoin, your Bitcoin investments.
1:07:42
You need to do that less, you know, eliminating that like
1:07:45
legal your status for paying your taxes with Bitcoin.
1:07:49
That is the stuff where you see that as a bitcoiner and you're
1:07:52
like, okay, like what is the real reason for all this stuff?
1:07:55
Obviously when this news came out, a lot of Bitcoiners felt
1:07:58
disappointed, like Bukele was kind of bending the knee.
1:08:01
And then there was a couple days last week I think where the
1:08:05
Bitcoin, you know, one Bitcoin a day buys from El Salvador kind
1:08:09
of slowed down. And then they just like, you
1:08:11
know, mass stack like 7 or 11 coins following it up.
1:08:15
So it is pretty interesting to see that either one El Salvador
1:08:20
is kind of ignoring what the IMF rules are or they don't really
1:08:24
mean anything or, you know, are they using that loan money to
1:08:27
buy Bitcoin? Like what exactly is going on
1:08:29
over there? But I think the biggest tell
1:08:31
here is what we've been saying ever since the El Salvador news
1:08:34
came out that if this starts to catch on with other small
1:08:37
countries, you know, either Central South American countries
1:08:40
or, you know, globally, then it's going to catch on like
1:08:44
wildfire. And obviously, now we know that
1:08:46
that's true because if the IMF is making such a big point about
1:08:49
the Bitcoin law and Bitcoin country, then you know that they
1:08:53
are afraid that there's something with Bitcoin that they
1:08:56
do not like, which is very obvious when you realize how the
1:08:58
Fiat system works. You know, they get all their
1:09:00
power from the chains that Fiat system does.
1:09:03
You know, the fact that they can print money, loan it out to
1:09:06
people, get interest on it, basically, you know, financially
1:09:09
enslaved countries and the fact that this is the main sticking
1:09:12
point is the Bitcoin law. I think that's all the signal
1:09:15
anyone really needs that. Hey, if the IMF is afraid of
1:09:18
Bitcoin in a tiny country, I don't know about you, but that
1:09:22
just makes me more bullish on Bitcoin.
1:09:24
So I love the fact that Buchele is is kind of he did a tweet.
1:09:29
He was kind of funny. Everyone, even we kind of our
1:09:32
Twitter team mentioned it, reported on it that they stopped
1:09:35
making Bitcoin buys and everyone and he responded with like ye of
1:09:38
little. Faith, no, no, but little faith
1:09:40
but hold on like you know and and Stacy was actually Stacy's
1:09:44
the one that pointed this out to me.
1:09:46
They did it on purpose, bro El Salvador like look check it take
1:09:51
a look at this trade everybody. So this is when El Salvador
1:09:55
stopped purchasing, right? You see that line, What happened
1:09:59
we dumped and what happened after we dumped?
1:10:01
That's how the USD. Balance.
1:10:03
Or is that the price of Bitcoin? That's the Bitcoin balance.
1:10:05
The Bitcoin balance is, is, is the green, the green is the
1:10:09
price, right? So dude, check out they it's,
1:10:13
it's someone new. Someone new.
1:10:15
They stopped buying for a week before the dip, bro.
1:10:18
Someone traded the F out of that.
1:10:19
They're like stop buying 'cause there's a dip coming.
1:10:22
The dip happened and someone started and then people started
1:10:26
buying again, right? So, yeah, listen, El Salvador's
1:10:30
got to do what El Salvador is going to do, right?
1:10:32
It's a small country. They're trying to get up, and
1:10:35
the IMF is is holding. The signal here is not that El
1:10:40
Salvador changed their policy. The signal here is that the IMF
1:10:45
feels so threatened by Bitcoin that it forced a tiny country in
1:10:50
Central America to change their laws on Bitcoin.
1:10:54
That's how scared they are of it.
1:10:56
That's the signal. Out of all of this, I think
1:10:59
Buchele is crushing it. It's the only Bitcoin country.
1:11:03
It's the only country that has a public strategic Bitcoin
1:11:06
reserve. Shout out to Max and Stacey for
1:11:09
that. So I still consider El Salvador
1:11:12
Bitcoin Country their lead. They're playing the game, man.
1:11:15
They're playing the game. This is the game, right?
1:11:18
There was no concessions. Like Bitcoin is still legal.
1:11:21
You could still use Bitcoin as money.
1:11:23
There's no capital gain implication, right?
1:11:26
So yeah, it doesn't have that legal tender status, whatever
1:11:29
this and this and that. But they're playing the game.
1:11:32
That's it. They're playing the game.
1:11:34
That's just the way it is. Anyways, everybody, let's get to
1:11:36
the culture. We have so much to talk about.
1:11:39
We will be right back. I want to give a shout out to
1:11:42
our partner Hive Digital Technologies.
1:11:45
As the first ever public miner, Hive's position to quadruple
1:11:50
their global footprint in 2025 and as the first with an AI
1:11:55
strategy, Hive continues to make moves in sustainable high
1:12:00
performance computing. They consistently topped the
1:12:03
industry in Bitcoin mining and per EXA hash, and now they're
1:12:08
headquartered in the USA. They're lean and mean, they're
1:12:11
green and clean, and they're changing the game.
1:12:14
You can catch the latest buzz by following them at Hive Digital
1:12:18
Tech or check out their website at Hive digitaltech.com.
1:12:33
I want to give a very special shout out to our sponsor Compass
1:12:37
Mining. They make Bitcoin mining
1:12:39
accessible to everyone from beginners to experienced
1:12:43
investors. Their turn key miners gets you
1:12:46
online and hashing within 48 hours, making it easier than
1:12:51
ever to start your mining journey.
1:12:53
Plus, with their active marketplace, you can resell your
1:12:57
miner at any time, adding flexibility and value to your
1:13:01
investment. Visit their website to access a
1:13:04
wealth of resources, learning everything you need to know
1:13:07
about Bitcoin mining. Take your first step into the
1:13:10
world of Bitcoin mining with confidence.
1:13:13
Discover more at Compass Mining dot IO.
1:13:16
Again, Compass Mining dot IO and see how Compass Mining can power
1:13:21
your success. All right, I I think I lost
1:13:29
Nico. He pulled me off.
1:13:32
Guys, I can't be present in four years.
1:13:35
Actually, no, Yeah, I wasn't born here.
1:13:37
I can't. I'm back Optius running for
1:13:39
president in 2028. Optius, Mr. Fields, We can't do
1:13:44
that, legally speaking. You know, I'm a
1:13:46
constitutionalist. That can't happen anyways.
1:13:48
Anyways, all right, let me put some context here.
1:13:52
So we played on this show a lot of times.
1:13:57
I'm sure if you watched the show before, you probably saw that
1:14:00
clip of Howard Lutnick basically saying don't call Bitcoin
1:14:03
currency. And Nico, what's his official
1:14:05
position? Secretary of Commerce.
1:14:07
Yeah, Secretary of Commerce, he said don't call Bitcoin money or
1:14:11
a currency, just call it a commodity.
1:14:13
And there's a lot been a lot of people, I think sailors kind of
1:14:15
been doing the same thing, called Bitcoin a commodity.
1:14:18
Therefore, you know, the politicians will kind of get out
1:14:20
of your way and then all of us, you know more, I would say
1:14:24
extreme bitcoiners, we are like, no, Bitcoin is money, Bitcoin is
1:14:27
currency or even one of my favorite Bitcoiners beauty on
1:14:30
he's always saying don't call Bitcoin money.
1:14:32
You know, it's it's it's just code.
1:14:34
And this is how we can kind of skirt the laws, even though they
1:14:37
already have these laws like KYC, AM, LS, etcetera, because
1:14:40
they do view it as money, even though they say it's just
1:14:42
property or just a commodity. And so there's a lot of people
1:14:46
that maybe are confused about like, what is Bitcoin exactly?
1:14:49
Is it a commodity? Is it money?
1:14:50
Is it currency? And I think even some of us
1:14:53
seasoned bit corners have a hard time explaining the difference
1:14:56
between, you know, a money and a currency.
1:14:59
And Parker Lewis that go, you know, used to be at Unchained,
1:15:02
now he's at Zaprite. He dropped an excellent article
1:15:06
in here. Actually, let me I'll drop this
1:15:07
in the chat for you guys because I can't read the whole thing.
1:15:09
We are running a little late on today's show, but I do want to
1:15:12
kind of highlight some of this stuff because I did see some
1:15:14
people in the chat kind of asking, you know, what is
1:15:17
Bitcoin a commodity? Is it a currency, etcetera.
1:15:19
So again, I'm not going to read the whole thing.
1:15:21
You guys want to read the whole thing I dropped in the chat.
1:15:23
Maybe I'll put in the description for you guys or just
1:15:25
go to Parker Lewis's Twitter. But there is some good signal in
1:15:28
here. So I'm going to read, you know,
1:15:30
the beginning and towards the end, here's Parker Lewis and he
1:15:32
goes, Bitcoin is money and currency and here we go.
1:15:36
Most people in their day-to-day practical lives don't
1:15:38
distinguish between money and currency and rightly so.
1:15:41
As a practical distinction, it's mostly irrelevant.
1:15:44
The dollar is money and currency and most people will look at you
1:15:47
cross eyed if you even ask them the difference.
1:15:49
But the difference does matter from a policy perspective and
1:15:52
their implications for Bitcoin going forward as mass adoption
1:15:55
occurs, which is why this discussion matters.
1:15:57
And This is why we bring it up on the show because as we're
1:16:00
seeing, Bitcoin is becoming very political.
1:16:03
We know the regulators are after us.
1:16:05
They're looking at us. As we saw from the first Digital
1:16:07
Asset meeting or summit with Cynthia Lummis, they mainly
1:16:13
focus on the regulations, you know, some clarity here, how to
1:16:16
define things and of course, stable coin.
1:16:18
So Bitcoin is a commodity money and a currency all at once.
1:16:23
And there's fundamental consequences to this that makes
1:16:25
Bitcoin unique in the history of money.
1:16:27
Historically, certain commodities have emerged and
1:16:29
been used as money, and gold is a great example.
1:16:32
Gold emerge as commodity money over thousands of years, but
1:16:35
gold was never practically or functionally a currency on its
1:16:39
own. the US dollar and virtually all Fiat currencies, all paper
1:16:42
money, emerge as a fractional representation of gold, but more
1:16:46
importantly, a currency that was convertible to gold.
1:16:49
And here's the famous quote. If you've been a Bitcoin, you
1:16:51
probably heard this. JP Morgan himself is famously
1:16:54
quoted as saying gold is money and everything else is credit.
1:16:57
And the dollar was credit for gold.
1:16:59
It was a contract, as in an actual contract convertible to
1:17:02
gold. And you don't have to understand
1:17:04
the history of gold to accept that the entire world converge
1:17:07
on gold as money and as a standard of value.
1:17:10
The gold standard existed. It wasn't random.
1:17:12
And in response, you know, gold was money and it wasn't a
1:17:15
currency on its old. And then the dollar was created
1:17:19
and it came out and it's a currency.
1:17:20
So prior to Fiat currencies, gold was coined.
1:17:23
Importantly, the process of coining necessitated an issuer
1:17:26
and the process of coining set a standard weight and measure.
1:17:28
And through that process, gold was transformed into a currency.
1:17:32
The coin was the currency and the refinement and insurance was
1:17:35
necessary to make it so an issuer, and this is the main
1:17:38
point with Bitcoin, an issuer was a necessary part of the
1:17:41
equation and this is help, you know, give it its utility,
1:17:46
etcetera, etcetera. And then Fiat currencies were
1:17:48
just a progression of the same reality.
1:17:50
Every Fiat currency needs an issuer.
1:17:52
And this is the fundamental difference between, of course,
1:17:55
Bitcoin, gold and Fiat currencies.
1:17:58
With the advent of Bitcoin, that is no longer true and it's not
1:18:01
just because magic Internet money is amazing.
1:18:03
There is something fundamentally different about Bitcoin that
1:18:06
makes it unique. Bitcoin is the first form of
1:18:08
money to ever exist. That is also a currency.
1:18:11
Read that again. Bitcoin is the first form of
1:18:14
money to ever exist that is also a currency.
1:18:16
There is no issuer Bitcoin, and it is also functional as a
1:18:20
currency on its own without the need for the issuer.
1:18:23
The fundamental reason is that there's also a defined unit
1:18:26
baked into Bitcoin. Not a standard unit, but
1:18:28
importantly a unit AKA SAT's or if you're a bit Maxis, etcetera.
1:18:33
Bitcoin has no issuer, but it is also the measure.
1:18:36
It eliminates the need for an issuer to set standard units.
1:18:38
It eliminates the need for standard weights and measures.
1:18:40
In addition to eliminating the issue, the currency is also
1:18:44
validated not by the issuer, but by the network itself.
1:18:48
And these collective sets of facts and properties are what
1:18:51
set Bitcoin apart and what revolutionizes money as we know
1:18:55
it or have known it. Again, Bitcoin is a money that
1:18:58
is also functional as currency because it collectively
1:19:00
eliminates the issuer from the supply currency. 2, it
1:19:03
eliminates the need for an issuer to set a unit or units of
1:19:06
measure and three eliminates a need for an issuer in the
1:19:08
validation of the currency and currency transactions.
1:19:11
And any policy maker of those advocating for Bitcoin policy
1:19:15
needs to understand this. It changes money and currency
1:19:18
forever. And this is just a TLDR. And
1:19:20
then just finishing this up again, there's this whole
1:19:23
breakdown about, you know, some Bitcoin 101.
1:19:25
If you're new to Bitcoin, need to kind of refresh yourself
1:19:28
again, why I put it in the chat so you can read it.
1:19:30
And and here I'm just going to wrap up a little bit and goes
1:19:32
the logic of Bitcoin has money and currency.
1:19:34
Many people have arrived at the conclusion that Bitcoin is money
1:19:37
or otherwise use it as a store of value.
1:19:39
Still question whether Bitcoin is viable as a currency, whether
1:19:43
it should be a currency or whether it needs to be a
1:19:45
currency to need, AKA akin to what Michael Saylor has been
1:19:48
saying. Saylor is one of the best
1:19:50
advocates for Bitcoin. And of course, he says I have an
1:19:53
incredible amount of respect for him.
1:19:54
And his view, shared by many, is that Bitcoin is a commodity and
1:19:58
money, but not a currency. And this is not just a
1:20:01
distinction between bitcoins use as a store of value versus uses
1:20:04
as a medium exchange or unit of account.
1:20:06
Instead, it's that in the future there will not be a logical
1:20:09
basis or economic incentive to have a separate currency
1:20:13
incremental to Bitcoin. There's no no no such need for a
1:20:17
currency. Therefore there won't be.
1:20:19
And the insertion of a separate currency and currency laid layer
1:20:22
would be the equivalent of trying to stop water from moving
1:20:25
downhill. It would insert friction costs
1:20:27
without benefits, etcetera. And this is not an opinion and
1:20:31
you know the what should happen or what policy should or
1:20:34
shouldn't be just simply explaining the economic reality
1:20:37
based on logic and reason. Bitcoin works as a currency and
1:20:40
because it works as a currency, it will be economically
1:20:43
irrational to not use it as a currency.
1:20:45
Again, you guys can read the whole thing.
1:20:47
There's a lot of good stuff in here kind of clear yourself up
1:20:49
on economics and kind of some some vernacular here.
1:20:53
But I find it very interesting because like, as you guys know,
1:20:57
on the show, I'm, I'm, you guys were told me earlier, you know,
1:21:01
I don't, I don't consider myself a conservative.
1:21:03
I'm probably more of an extreme right person because I'm a free
1:21:06
market guy and I I love. Libertarian Whoa, whoa, whoa,
1:21:08
whoa. You're you're, you're very right
1:21:12
wing economically. Yeah, that's what I was saying.
1:21:15
That's where I was going. You know, don't, Yeah, don't
1:21:18
misquote me here, But it's very interesting because Bitcoin is.
1:21:22
I also want to emphasize too not to interrupt, but that could be
1:21:26
taken out of context opti. Everything I say could be taken
1:21:30
out of context. You're you're, you're, you
1:21:32
believe in the, you believe in the and you believe in small
1:21:37
government and you believe in free markets. 100% and that's.
1:21:41
What you meant, Yeah. And and Liberty, that's what you
1:21:45
meant when you said what you said because it could be, could
1:21:47
totally misconstrued and take it out of context.
1:21:53
Very important to provide. Clarification.
1:21:55
Yeah, it's an attention economy. I'll take all the LS here
1:21:59
anyways. Anyways, I bring all this up
1:22:01
today because as we're. Seeing none of the social stuff.
1:22:04
Yeah, none of the social stuff. Mexican.
1:22:07
What are we talking about here anyways?
1:22:08
Anyways, all of this stuff I think is very important to be
1:22:11
talking about right now, currently as Bitcoin starts to
1:22:15
get proliferated into the public consciousness.
1:22:18
And of course, you know, there's people on the sides of Bitcoin
1:22:20
isn't money, it's just a commodity.
1:22:22
Or, you know, maybe skeptics of Bitcoin are like, oh, Bitcoin
1:22:27
will never be a currency. It's never going to be the world
1:22:29
reserve currency. Like, what are you guys even
1:22:31
doing? Or, you know, very simply as
1:22:33
we've seen Jamie Dimon and JP Morgan or.
1:22:36
Sorry, yeah, Jamie Dimon and and and Powell say recently, it's
1:22:40
like, oh, Bitcoin is just a store of value.
1:22:43
It's like digital gold. And and I think the fundamental
1:22:47
idea here that we've been talking about on this show for a
1:22:50
very long time is that Bitcoin is separate to all of the boxes
1:22:55
and categories of money of currency that we've ever seen of
1:22:58
the traditional financial system that we've encountered our whole
1:23:01
lives. And This is why we're seeing
1:23:04
policy, politicians, regulators are all trying to fit Bitcoin
1:23:08
into a box. But as we're seeing, it's a
1:23:11
totally different beast. And now people are starting to
1:23:13
kind of wake up to this. And we're starting to see,
1:23:15
especially with some of the recent SEC rulings, that it's
1:23:19
getting very hard for them to kind of understand what's going
1:23:22
on with Bitcoin to separate it from shit coins to try to, you
1:23:26
know, put the put the Bitcoin into the Fiat box.
1:23:29
And I think this is only going to increase.
1:23:31
So I think it's very important for us to kind of brush up on a
1:23:35
lot of the things we talk about in Bitcoin.
1:23:37
I'm I'm kind of with Parker here on this.
1:23:39
This is why I brought it up like I'm not afraid to say that
1:23:42
Bitcoin is money, even though that does kind of come with a
1:23:44
lot of implications out there. But to me, it's money.
1:23:48
It's a currency. It's used as a store of value,
1:23:50
medium exchange and a unit account for a lot of us
1:23:53
bitcoiners. And I don't think we should shy
1:23:55
away from this. Obviously, I get the the
1:23:58
rhetoric and the perspective of hey, just call it commodity
1:24:01
money. They'll get out of your way.
1:24:03
I get that. But also, hey, Bitcoin is
1:24:05
different and I think that the the powers that be will have to
1:24:09
bend the knee to Bitcoin and we're starting to see this
1:24:11
happen, even though we're seeing a lot of shit coronary as well.
1:24:14
You know, it's it's just a whole new paradigm.
1:24:18
And I think we're starting to see people try to wrap their
1:24:22
head around it. And this is only going to
1:24:23
increase as the price goes up. So I wanted to come on here, arm
1:24:27
you guys with a, you know, a little a little breakdown on
1:24:30
what's going on. Go read the whole article.
1:24:32
Parker Lewis kills this at that, you know, the behest to the time
1:24:35
here today. Had to just kind of hit some
1:24:37
highlights there. But yeah.
1:24:41
I think you, you hit the nail on the, you hit the nail on the
1:24:43
head, bro. You know, you see it with Sealer
1:24:47
and you see it with Howard Lubnick, right?
1:24:49
Howard Lubnick blatantly said on the on the pomp podcast.
1:24:53
He's like, look, guys like don't call it money.
1:24:58
You're stepping on the politician's toes.
1:25:01
Bitcoin's a commodity. They'll leave you alone, right?
1:25:04
Like that's what they've been saying.
1:25:05
Like that's been the narrative, That's been the the thing.
1:25:10
And this is where kind of rubber meets the road and where things
1:25:14
are going to get a little bumpy. Like I, I've been telling you
1:25:17
guys for a minute now, we just went through the
1:25:20
disintermediation of information and state.
1:25:23
We are going to go through the disintermediation of money and
1:25:26
state. This is an inevitability.
1:25:29
It's not going to be top down, it's going to be bottom up.
1:25:33
And just like the same phenomenon that you saw with
1:25:37
social media where every day you can tell that another person was
1:25:45
no longer consuming CNN or Fox News.
1:25:49
They were consuming X, or they were consuming like X as in
1:25:52
Twitter, or they were consuming Noster, or they were consuming
1:25:56
independent content creators on Rumble or on YouTube.
1:25:59
Like that's who they were getting their news from.
1:26:01
And slowly but surely, it reached critical mass.
1:26:04
It reached a point where the majority of people no longer
1:26:09
consume their news off of legacy media, which we now know is
1:26:13
controlled. Like look at the Economist
1:26:16
article. Like it's, it's so blatant now
1:26:18
that you have alternative free speech where people can get
1:26:22
their, their, their news. Now I think what is going to
1:26:26
happen and the phenomenon is slowly starting.
1:26:29
It's in the very infancies of it.
1:26:33
You're going to see something very similar.
1:26:37
So I'll give you an example. What is my unit of account?
1:26:41
It's been Bitcoin, it's Opti's Univide account, it's Bitcoin,
1:26:46
good friend of mine, BTC Sessions, incredible YouTube
1:26:48
channel. He's been on a Bitcoin Center
1:26:50
for like 6 years now. Right?
1:26:52
So that is only the amount of people that are doing that is
1:26:59
only increasing by the day. It's not decreasing the amount
1:27:03
of people using Fiat is decreasing the amount of using
1:27:07
people using Bitcoin. And to be fair, crypto as
1:27:10
alternatives is only increasing. It's going to get to a point,
1:27:16
regardless of what governments do, that it reaches a critical
1:27:20
mass. And this is where things get
1:27:23
sticky. This is where things get messy.
1:27:25
This is where you're going to see them push back.
1:27:29
You're going to see them try to retain their power of their
1:27:38
power, their ability to create money for free that everyone
1:27:42
else has to work for. You know we're not there yet.
1:27:46
Also in the chat there's an Opti Gate 2 point O apparently
1:27:51
happening. People are saying that they're
1:27:56
tired of Nico stepping on Opti. It's, it's not like that guys.
1:28:00
Just there's a, there's a, there's a method to the madness.
1:28:03
There's a method to the madness, isn't there, Opti?
1:28:05
Yeah, I mean, I'm a, I'm a, I'm an extremist here.
1:28:08
You got to reel me in a little bit.
1:28:09
It's a good balance here, you know.
1:28:12
Oh, man. All right.
1:28:13
Well, guys, this is a great show.
1:28:15
I really enjoyed it. Thank you guys so much for
1:28:17
tuning in. We appreciate it.
1:28:19
Go get our merch. It just dropped.
1:28:22
It's absolutely beautiful. It's phenomenal.
1:28:25
It's it's limited edition. Go to simplybitcoin.com and also
1:28:30
get your tickets to Bitlock. Boom, it's coming up.
1:28:33
You definitely want to don't want to miss it.
1:28:35
April 3rd through the 6th, less than a month.
1:28:38
If you use promo code BBB 21, you get $100 off of your
1:28:43
tickets. The entire simply Bitcoin crew
1:28:46
will be there. We definitely don't want to miss
1:28:49
you guys. We want to see you guys in
1:28:51
person in the in the flesh. They have a BBQ.
1:28:55
They have an axe throwing contest, they have the
1:28:57
conference day, they have the workshop day.
1:29:00
This is one of the best Bitcoin events of the year.
1:29:02
It's Bitcoin only it's in Dallas, TX.
1:29:05
It's it's it's awesome guys. Use promo code BBB 21 to get
1:29:10
$100 off of your tickets. Simply Bitcoin will be live
1:29:15
streaming the conference day. Should be a lot of fun.
1:29:18
Opti and I, those conference days are are rough to say the
1:29:22
least, but you guys definitely don't want to miss it.
1:29:25
So see you guys in Dallas, TX April 3rd through the 6th and we
1:29:29
will be at Mining Disrupt in Fort Lauderdale as well.
1:29:31
Hope to see you guys there also. But until then guys have an
1:29:35
amazing rest of your Monday. We're simply Bitcoin live.
1:29:39
This is March 3rd of 2025. Man this bull market better
1:29:44
start picking up bro. I'm kind of bored.
1:29:47
We're like we're like waiting for Trump and politicians to
1:29:50
pump our bags man. Like wow status?
1:29:52
Confirmed. Like what what?
1:29:54
What is going on, what is happening?
1:29:56
What is happening? Is Bitcoin getting boring?
1:29:58
Anyways guys, we love you all. Smash the like button.
1:30:01
Consider subscribing if you feel like we provided you value.
1:30:04
We'll be back tomorrow for a brand new episode of Simply
1:30:07
Bitcoin. Today's episode was brought to
1:30:11
you by bitcoinwell.com, a Bitcoin only platform on a
1:30:14
mission to enable financial independence.