Latest / Simply Bitcoin / IMF DESTROYS El Salvador's Bitcoin LAW (Is It OVER?!) | EP 1195

Transcript

IMF DESTROYS El Salvador's Bitcoin LAW (Is It OVER?!) | EP 1195 · Simply Bitcoin

• 0:00
  Yo, is the Bitcoin experiment in El Salvador officially over?
• 0:06
  The IMF published a 111 page bombshell report yesterday
• 0:12
  forcing El Salvador to do to rescind, essentially stop buying
• 0:18
  Bitcoin, officially stop mining Bitcoin, and stop all
• 0:23
  involvement in BTC bonds. Will this actually stop Buchele
• 0:28
  and El Salvador from buying Bitcoin considering over 108
• 0:33
  countries have, I believe the number is 9494 countries have
• 0:37
  debt with the IMF. What does El Salvador's pivot
• 0:41
  suggest for nation state Bitcoin adoption?
• 0:46
  I'll be totally blunt with you guys and I'm going to do this
• 0:48
  off the cuff. This is a big mother effing L
• 0:54
  But what I will say is they revealed their cards in the
• 0:59
  process. They showed you guys that the
• 1:03
  IMF steals Bitcoin as a clear and present danger.
• 1:09
  They see it as a threat to the system and they're willing to
• 1:15
  expose themselves in order to stop it.
• 1:20
  And one of the things that I found interesting, I've been in
• 1:23
  this industry for quite a while now, is that in 2021 when Naimbu
• 1:27
  Kelly made the announcement in Bitcoin 2021 Miami, first time I
• 1:32
  ever spoke at a Bitcoin conference and he made that
• 1:36
  announcement, historic announcement.
• 1:38
  It was the conference where Max Kaiser interviewed Michael
• 1:41
  Saylor on stage. You know, Jack Mahler's gave
• 1:44
  this very passionate speech. He started tearing up.
• 1:47
  And of course, the video of Ross Albre, the, the sound bit from
• 1:50
  Ross Albrecht and then Naimbu Kelly on stage, they, they
• 1:55
  played a video of him saying we're going to make Bitcoin
• 1:57
  legal tender. And in Bitcoin 2022, we were all
• 2:02
  expecting, all of us were expecting that this momentum was
• 2:06
  going to continue. It wasn't going to stop and it
• 2:10
  just stopped. It was very strange, like it
• 2:13
  fizzled out like no other countries followed in the
• 2:17
  footsteps of Michael of, of, of Naimbu Kelly.
• 2:22
  And I never quite understood why.
• 2:25
  Now we know why. And if you connect the dots,
• 2:29
  this is what we do on the show is connect the dots, right?
• 2:32
  We now know because of Doge and Elon Musk that a lot of these
• 2:36
  legacy media outlets were funded by the government.
• 2:43
  The legacy media outlets were some of the they attacked El
• 2:49
  Salvador relentlessly to the point where Naimbu Kelly wrote
• 2:53
  an article for Bitcoin magazine called Don't drink the elites
• 2:56
  kool-aid where he says that their most important weapon is
• 2:58
  their control and the truth. Yesterday we showed you guys the
• 3:02
  Victory lap article by the Economist where the Economist
• 3:06
  was basically saying that the the Bitcoin experiment, El
• 3:10
  Salvador was an absolute failure.
• 3:12
  It wasn't a failure. They failed to mention that the
• 3:14
  IMF essentially strong armed El Salvador into taking this this
• 3:19
  deal. And if you think about what the
• 3:22
  implications of that are, it's pretty crazy.
• 3:26
  The IMF blocked a sovereign country from buying Bitcoin.
• 3:34
  Say that again, the IMF, the International Monetary Fund is
• 3:39
  the same people that talk all this goodness about democracy,
• 3:43
  right? Blocked a sovereign country that
• 3:48
  democratically passed the law that the vast majority of the
• 3:52
  people support. Naimbu Kelly has one of the
• 3:54
  highest approval ratings out of any president in the Americas.
• 3:58
  And the IMF stepped in there and said no, no, no, no, no.
• 4:04
  You can't have Bitcoin as legal tender.
• 4:05
  In fact, you can't not only have Bitcoin as legal tender, you
• 4:09
  can't buy Bitcoin and you can't mine Bitcoin.
• 4:16
  The gloves are off. The curtain has been pulled.
• 4:20
  This is the final boss. This is the separation of money
• 4:24
  and state. This is what we're we've been
• 4:26
  talking about for all these years and months.
• 4:29
  This is happening. It's like we're here now they're
• 4:32
  telling you where they're drawing the line explains so
• 4:36
  much, right? So anyways, we're going to break
• 4:39
  it down. We have articles for you guys.
• 4:41
  We have a very special guest, incredible content creator.
• 4:43
  We got Rajat joining us on the show today.
• 4:45
  Of course, my legendary Co host, my best friend and Co founder of
• 4:50
  Simply Bitcoin, Optimus Fields in the house joining us as well.
• 4:54
  All right, guys, no more delay. Let's jump straight into the
• 4:56
  article by Coin Telegraph. IMF deal to ban public sector
• 5:02
  Bitcoin accumulation in El Salvador The IMF has issued new
• 5:07
  requests under its $1.5 billion deal with El Salvador, aiming to
• 5:12
  restrict BTC purchases by the public sector.
• 5:16
  The IMF is looking to restrict Bitcoin purchases by El Salvador
• 5:19
  as part of an extended $1.4 billion funding arrangement with
• 5:23
  the country. On March 3rd, the IMF issued a
• 5:27
  new requests for an extended arrangement under its Fund
• 5:31
  Facility to El Salvador, filing several new documents, including
• 5:35
  a staff statement update and a statement by its executive
• 5:40
  director for El Salvador. The technical memorandum of
• 5:45
  understanding indicated a condition of quote no voluntary
• 5:49
  accumulation of Bitcoin by the public sector in El Salvador.
• 5:54
  Additionally, the memorandum requested the restriction of
• 5:57
  public sector issuance of quote any type of debt or tokenized
• 6:01
  instrument that is indexed or denominated in Bitcoin and
• 6:05
  implies a liability to the public sector.
• 6:09
  Here is it. Here is the the things
• 6:11
  specifically no voluntary accumulation of BTC by the
• 6:15
  public sector, Bitcoins by the public sector.
• 6:17
  I love how they call it anyways, I'm not going down that that
• 6:21
  route, but this whole public sector thing is BS.
• 6:25
  OK, because that's one of the like the the arguments that the
• 6:27
  central bankers use when they say Bitcoin is private money and
• 6:33
  Fiat money is public money versus anyone could audit
• 6:36
  Bitcoin at anytime, anyone could create more Bitcoin, right?
• 6:40
  It's a completely transparent open Ledger Fiat.
• 6:44
  You can't audit the Fiat system, you can't create more of Fiat or
• 6:48
  else you go to jail. What sounds more public and what
• 6:50
  sounds more private to you? Again, they project on to us
• 6:54
  what it is they are guilty of themselves.
• 6:56
  Bitcoins by the public sector are private in all hot and cold
• 7:00
  wallets owned by or under the control of the public sector,
• 7:04
  including Chivo, Adhencia, Administadora de Ritcoin,
• 7:09
  Officina, Nacional de Ritcoin Commission, Cutiva,
• 7:14
  Hydroelectica, Del Rio Lempa, and all other public sector
• 7:18
  entities and legal persons controlled by the State with
• 7:22
  majority voting interest and or direct or indirect control by
• 7:27
  the 214 CFSM net of Chivo's client deposits in Chimo
• 7:33
  dominated in Bitcoin. Voluntary, Voluntary
• 7:36
  accumulation. Voluntary accumulation of
• 7:39
  bitcoins includes purchase and mining of bitcoins and excludes
• 7:43
  the accumulation of bitcoins resulting from forfeiture or
• 7:47
  seizure, apprehension, custody, or other form of property or
• 7:50
  possession by the government, rising from law enforcement
• 7:53
  measures adopted in accordance with Salvadorian law.
• 7:56
  So, right, as long as you steal it from criminals, that's a not
• 8:02
  OK, fine. As long as you seize it from
• 8:04
  criminals, OK, They committed a crime.
• 8:06
  But again, you know who's making the laws that determine what is
• 8:11
  a crime, what is not a crime, right?
• 8:12
  So that's open to interpretation.
• 8:16
  That is OK, But you can't buy it, right?
• 8:20
  You can't buy it. But but this they can accumulate
• 8:24
  it with taxes though, no like it's based on that.
• 8:27
  Let's keep going, right? I think I maybe maybe you're
• 8:29
  right, Rajat so. I don't know.
• 8:31
  I haven't read the article. I'm just saying like just based
• 8:33
  on the wording there, it maybe I, I don't know, could could do
• 8:35
  you think you guys think? That could be possible possibly,
• 8:37
  but I think that they would they're, they're going to, you
• 8:39
  know how like there's 22 and 23, they're just going to add 24.
• 8:43
  And it said no accumulation via taxes.
• 8:46
  I I mean I they might not say in this article, but I think they
• 8:49
  said that they will stop the payment of taxes in Bitcoin.
• 8:53
  So Yep. And then it keeps going.
• 8:55
  The IMF, Menendez, Bertolo Bertolo quote, Bitcoin related
• 9:00
  risks are being mitigated. What are those risks?
• 9:03
  What are those risks? They were right when Bitcoin,
• 9:06
  when El Salvador started buying Bitcoin, it was like what like
• 9:10
  1630 K per coin. They made a fortune.
• 9:13
  They 3X their money. And what risks like I think
• 9:17
  inflation poses a bigger risk on society than Bitcoin.
• 9:21
  That's they don't want you to know that This is why they're so
• 9:24
  they cannot lose ground on this. I cannot emphasize this enough,
• 9:30
  but they're inevitably going to lose because the genie's out of
• 9:32
  the bottle. You can't put it back in
• 9:34
  anyways. In an accompanying statement
• 9:36
  from February 26th, 26th, Menendez Bertolo, the Fund's
• 9:41
  executive director for El Salvador, emphasized that the
• 9:43
  IMF's Extended Fund Facility for El Salvador aims to provide,
• 9:48
  quote, improvements in government's transparency and
• 9:51
  resilience to boost confidence in the country's growth
• 9:54
  potential. I mean, you see El Salvador's
• 9:57
  GDP like it's been blowing up, their crime rate has been going
• 10:02
  down. Like what are you talking about?
• 10:05
  It's all like central bank mumbo jumbo BS to try to legitimize
• 10:12
  tyrannical actions behind sophisticated vocabulary.
• 10:18
  Because that's really what it is.
• 10:20
  The authorities enacted amendments to the Bitcoin law
• 10:23
  that clarify the legal nature of Bitcoin, and removed from the
• 10:26
  law the essential features of legal tender.
• 10:29
  To address Rajat's point, acceptance of Bitcoin will be
• 10:32
  voluntary. Tax payments will be made in
• 10:35
  U.S. dollars. So they're completely stopping
• 10:39
  El Salvador and holding them hostage, essentially stopping El
• 10:43
  Salvador's ability to acquire Bitcoin.
• 10:47
  The next step is they're going to try to force El Salvador to
• 10:50
  sell Bitcoin, sell their Bitcoin holdings.
• 10:53
  This is insanity. Now, do I believe this happened?
• 10:57
  This was a coincidence? No Naimbu Kelly went on Twitter
• 11:01
  yesterday, March 3rd. This was announced.
• 11:05
  This this was announcement came on March 3rd as well, right?
• 11:09
  Naimbu Kelly made this announcement on March 3rd at
• 11:12
  nine, 9:13 PM and he said, look at this, we bought the dip,
• 11:19
  we're buying Bitcoin, right? So this makes the IMF look like
• 11:24
  a fool, right? That's that's what essentially
• 11:27
  it's happening. The IMF is exerting authority
• 11:31
  over a sovereign nation. And when you come to realize
• 11:35
  that the IMF has 94 loans with other sovereign nations, then
• 11:43
  you it, it, it begs the question, are these countries
• 11:45
  really sovereign? Is is the IMF really calling the
• 11:48
  shots for all these countries economically?
• 11:51
  And then again, look at this meme like this makes the IMF
• 11:55
  look bad, right? Naimbo Kelly is like, bought the
• 11:58
  dip, the actual dip, the dip of the dip, the dip of the dippity
• 12:01
  dip, dip, dip, right? And then Elon Musk even
• 12:05
  commented with a smiling face, if you're the IMF and you're
• 12:10
  interested in exerting authority over all these countries, now we
• 12:13
  can say that without a shadow of a doubt, right?
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  This is embarrassing to you, right?
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  Because if countries, specifically smaller countries,
• 12:22
  come to realize that there's an alternative way to the IMF for
• 12:29
  their countries to get ahead, that's a problem.
• 12:33
  That's a danger. And could you imagine, El
• 12:36
  Salvador has AGDP of $32 billion.
• 12:40
  Elon Musk's net worth is 450 billion.
• 12:43
  Just to kind of give you guys a reference.
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  It's a very small country in Central America, developing
• 12:49
  country, went through a civil war.
• 12:51
  Why are they so hell bent on stopping them from acquiring
• 12:56
  Bitcoin? You know that that's the
• 12:58
  question. Why are they so hell bent?
• 13:00
  Now? Here's some comments from the
• 13:02
  community. Here's Preston Pish.
• 13:04
  He says this is disgusting and straight out of the IMF
• 13:07
  playbook. Naimbu Kelly needs to address
• 13:09
  this very publicly. I agree, Alex Gladstein, chief
• 13:14
  strategy officer at the Human Rights Foundation that has done
• 13:18
  incredible work on the IMF, He says.
• 13:20
  I feel like the fact that at the IMF is forcing El Salvador to
• 13:23
  stop it's Bitcoin adoption should be bigger news. 0
• 13:27
  coverage in the mainstream economic media.
• 13:30
  We know why. We know why with Doge.
• 13:33
  We know why. Who owns the mainstream
• 13:35
  economic, Who's been funding the mainstream economic media?
• 13:39
  A lot of that funding came from the government itself.
• 13:41
  You know the government. It's also funded by the Fiat
• 13:44
  system. But anyways, it continues 0
• 13:48
  coverage in the mainstream economic media.
• 13:50
  But think of the simple implication.
• 13:51
  The IMF considers Bitcoin a threat, no longer useless, but
• 13:56
  revolutionary. And then I went on a Twitter
• 13:58
  rampage this morning when I saw this news, as I was seeing red.
• 14:02
  First thing that I said is the fact that the IMF is blocking a
• 14:05
  sovereign country from buying Bitcoin is the signal.
• 14:08
  Apparently that's Opti's original thought from
• 14:10
  yesterday's episode. I don't remember.
• 14:12
  That, but I'll give him credit. My tweets.
• 14:14
  I'll give him credit for that. I don't remember that at all,
• 14:17
  but whatever, I'll give Opti credit.
• 14:19
  Wow Opti game 4.0 and then. 94 countries have loans with the
• 14:25
  IMF. All those countries were just
• 14:27
  sent a message that they can't buy Bitcoin.
• 14:30
  This is why after 2021, no other countries following El Salvador,
• 14:33
  something stopped the momentum. We now have a pretty good idea
• 14:37
  of who was behind it. I mean, this is massive.
• 14:41
  This is massive. This is a separation of money
• 14:44
  and state. Ladies and gentlemen, this is
• 14:45
  what it's all about. We were eventually going to
• 14:48
  reach this moment where something was going to give and
• 14:51
  they were going to say, no, no, that's not happening.
• 14:54
  And you're hearing a lot of the wording coming from, you know, a
• 14:58
  specific people is actually Opti.
• 15:00
  You were reading an article from Parker Lewis yesterday about how
• 15:06
  Parker is essentially concerned that people are calling Bitcoin
• 15:10
  a commodity and not money. People are forgetting that it's
• 15:13
  money. And and this is essentially the
• 15:16
  the, the, the bargain right now with politicians.
• 15:19
  It's like, you know what? Bitcoin isn't money.
• 15:20
  It's a commodity. You don't have to worry about
• 15:22
  it. But we all fundamentally have to
• 15:24
  remember it is money. And the IMF fears that Bitcoin
• 15:29
  is money so much that they literally drew a line in the
• 15:33
  sand and said, El Salvador, no, you can't do this.
• 15:37
  And you break it down first principles, and then I'm going
• 15:40
  to shut up and pass it to Rajat, OK?
• 15:42
  Why do they fear it? Why do they fear it?
• 15:46
  The reason they fear it is because the longer Bitcoin
• 15:50
  exists, the longer it proves that money can exist without
• 15:57
  inflation. Currency debasement and
• 16:00
  inflation happened to be one of the primary funding mechanisms
• 16:05
  for for world governments worldwide.
• 16:08
  And the if Bitcoin is considered, if Bitcoin is put on
• 16:12
  a level playing field, it's equal legally to the US dollar
• 16:18
  and it's a, it's a superior currency.
• 16:22
  Politicians are going to be put in a very, very difficult
• 16:25
  position because they're going to have to explain to their
• 16:29
  populations why inflation is necessary in order for money to
• 16:34
  function. We there's been a social
• 16:37
  contract for property tax, there's been a social contract
• 16:40
  for sales tax, there's been a social contract for income tax,
• 16:44
  but there is no social contract for money tax.
• 16:49
  There doesn't exist. They're relying on you not
• 16:54
  knowing any better. And you see this when
• 16:57
  politicians try to gaslight you by giving you all these reasons
• 17:02
  as to why inflation is happening.
• 17:03
  It's the war, it's the supply chains, it's the pandemic, it's
• 17:09
  the weather. I'm not kidding.
• 17:10
  Like they've released articles blaming the inflation on the
• 17:13
  weather, right? They blame everything and
• 17:18
  anything but themselves. But they are literally the sole
• 17:23
  'cause there is no other 'cause it's central banks and
• 17:27
  governments issuing more money, increasing the money supply,
• 17:32
  therefore causing monetary debasement and inflation.
• 17:36
  That's what it's about. This is a narrative game.
• 17:39
  This is narrative trench warfare on the battlegrounds of the
• 17:41
  Internet. Naimbu Kelly was humiliating
• 17:44
  them with memes. Elon Musk got involved.
• 17:47
  Elon Musk, one of the most influential popular people, he's
• 17:49
  throwing a laughing emoji. It embarrasses them and they
• 17:53
  say, you know what, we're going to show our big stick and show
• 17:57
  everybody who's in charge. And that's what's happening.
• 18:01
  But the silver lining about all of this is that they have now
• 18:06
  officially exposed who they are and what it's about.
• 18:12
  It's always been about control, and now there's no shadow of a
• 18:17
  doubt and they fear Bitcoin. They're terrified of Bitcoin and
• 18:22
  they're willing to show their true intentions to in order to
• 18:28
  try to stop it. Anyways, Rajat monologue over
• 18:32
  this is crazy historic day in bitcoins history.
• 18:35
  They're trying to stop the inevitable.
• 18:38
  This is just going to delay things if anything.
• 18:41
  But yeah, man, I mean, from a nation state adoption
• 18:45
  standpoint, the IMF holds a considerable amount of influence
• 18:49
  and control over so many countries worldwide.
• 18:53
  Now they're basically saying any of those countries, any of those
• 18:56
  9, 24 countries that have loans with the IMF, don't even dare
• 19:01
  thinking about buying Bitcoin because we won't give you those
• 19:05
  SDRS, We won't give you those loans.
• 19:07
  Rajat, what's your take? I mean, the, the, if you think
• 19:11
  about it, the US dollar is a, it's a, it's a product, right?
• 19:14
  It's like if, if Apple were to, if Apple had the power to ban
• 19:18
  Samsung, they would, right? And if they had leverage over
• 19:23
  Samsung's users and or they, they had leverage over Samsung
• 19:27
  and they just banned them, they, they could easily did they do
• 19:30
  that right? And then that's what they do
• 19:32
  with these, these loans when they're giving money to El
• 19:35
  Salvador. They're, they're basically
• 19:39
  giving them this money to, to buy whatever they need to
• 19:43
  whatever, whatever they need to spend their money on.
• 19:45
  And they have this leverage over them now.
• 19:48
  And if leverage is what they want, right, they don't care
• 19:50
  about, they don't care about the dollars.
• 19:52
  They can create more dollars out of nothing.
• 19:53
  They want to be able to keep creating more and more dollars.
• 19:55
  That's why they want people to not buy Bitcoin.
• 19:57
  That's why they want governments to not buy Bitcoin.
• 20:00
  And I think this is going to get worse.
• 20:02
  They're they're we're in the, I think we're in the they then
• 20:04
  they fight you stage. But I mean, at the end of the
• 20:07
  day, it doesn't really matter. I have this, I have this phrase
• 20:11
  that I say a lot. Bitcoin runs out at every price
• 20:14
  and it will run out. It doesn't really matter what
• 20:16
  price it is. It's never going to go to those
• 20:18
  lower and lower prices that it was before.
• 20:21
  Take this as an opportunity that that's the best thing you can
• 20:24
  do, right? At the end of the day, you
• 20:25
  understand what the fundamentals are.
• 20:27
  You understand where this is going.
• 20:29
  You understand that this is going to go up forever.
• 20:31
  So this is, it's an opportunity to, to get financial freedom at
• 20:35
  what, 30% off? Why, why complain?
• 20:38
  We, we don't complain when prices go down for let's say
• 20:43
  like like ATV on Black Friday, we're happy to see a discount.
• 20:46
  But when a, when the price of Bitcoin comes down, why should
• 20:49
  we be be disappointed? We're so early.
• 20:52
  It, it just gives more and more people an opportunity to to
• 20:54
  build their wealth to have as much Bitcoin as they possibly
• 20:57
  can. And I think that's a good thing.
• 20:59
  A. 100% no, I, I 100% agree with you.
• 21:04
  And you can't stop this. Like you, you can't stop this.
• 21:07
  This is inevitable. They're delaying the inevitable,
• 21:10
  if anything. But yeah, I mean, it, it, it, it
• 21:15
  really showed their true colors. And, and you know what, I, Opti
• 21:18
  and I have been predicting this for a while.
• 21:19
  Inevitably we are going to reach this point.
• 21:22
  We've been making the case that what we've been living through
• 21:25
  as a society really for the last 10 years has, has been like the
• 21:30
  great disintermediation, right? We, we saw the disintermediation
• 21:33
  of media with the rise of social media.
• 21:37
  And essentially what we're witnessing right now is the
• 21:39
  great disintermediation of money.
• 21:41
  And look at how much they fought social media, like they
• 21:45
  misinformation deplatforming, you know, pressure from the
• 21:49
  government to put pressure on private companies to censor
• 21:52
  speech. It's still happening in Europe.
• 21:54
  Like they don't want to let go of that.
• 21:56
  It's so much power now. Now we're going after money,
• 22:01
  right? Like, Oh my God, Like, did you
• 22:03
  think that they were just going to lay over and say, you know
• 22:05
  what, guys? You found better money?
• 22:07
  You're right. Like it's OK, you know, you, you
• 22:11
  guys are here are the keys. Good luck.
• 22:13
  No, they're going to fight tooth and nail.
• 22:15
  And you know what's really effed up because they talk about
• 22:18
  financial stability and they talk about all these, you know,
• 22:21
  like virtuous reasons as to why they do what they do.
• 22:24
  Like what financial stability do you have if you're an Argentina
• 22:29
  and you're dealing with double digit inflation and a Bitcoin is
• 22:31
  the only way to escape that? Like that, that is evil.
• 22:38
  I don't know what else, what other word to use.
• 22:41
  Like evil, like you're essentially like.
• 22:44
  And one of the conditions too that the IMF gave Argentina was
• 22:48
  listen, because people, the IMF could say no, no, no, Nico, we
• 22:53
  just don't want the government to to hold Bitcoin.
• 22:56
  One of the conditions that the IMF gave to Argentina for their
• 23:00
  loan was that the government had to de incentivize the adoption
• 23:05
  of Bitcoin by the local populace.
• 23:07
  Meanwhile, this is a country that at the time was dealing
• 23:10
  with double digit inflation. That is, that is evil.
• 23:15
  They don't care about financial stability.
• 23:18
  They don't care about all these things, all these virtuous
• 23:21
  words. In my opinion, from my
• 23:24
  perspective, when I'm seeing here, they care about control.
• 23:29
  That's what it's about, control. Please make me another argument
• 23:36
  that that it's not about control.
• 23:38
  Please make me another argument. How could you stop people from
• 23:42
  adopting an alternative currency that's going to allow them to
• 23:47
  save and earn and potentially put food on the table for their
• 23:51
  families? Like what is the argument
• 23:54
  against that? So it it doesn't matter how much
• 23:57
  like how much beautiful vocabulary and virtue virtuous
• 24:01
  words you use. Like you know, the proof is in
• 24:05
  the work. Like full stop.
• 24:07
  Opti, what's your opinion on this bro?
• 24:09
  I mean, this is another simply Bitcoin moment.
• 24:12
  Tomorrow's Bitcoin use today because dude, we absolutely
• 24:16
  nailed it. They finally took their mask off
• 24:19
  and they're, they're, they're telling you they're, they're
• 24:21
  just like, look, we're scared shitless of this thing and we're
• 24:24
  willing to do whatever it takes in order to stop it.
• 24:27
  Yeah, I mean, anyone that has read well, first of all, shouts
• 24:31
  out to our boy Sessions in the chat.
• 24:33
  And he said, read Gladstone's Hidden repression to get a
• 24:35
  picture of how evil the IMF is. Love the suggestion.
• 24:38
  I was going to say, anyone who's read Confessions of an Economic
• 24:41
  Hitman already know how the IMF works.
• 24:44
  If you read that book or know any kind of elementary view of
• 24:50
  the IMF, not coming from the IMF itself, you understand how this
• 24:54
  works. And they are using loans and
• 24:56
  what we're seeing with El Salvador as a way to gain
• 24:58
  leverage over countries. This has been happening for a
• 25:01
  long time. This isn't a new idea.
• 25:03
  Now, you know this, as Nico said in the beginning, this does feel
• 25:07
  or rather is a huge L obviously as Bitcoin as we feel, I think
• 25:11
  let down and disappointed about this.
• 25:13
  When this news first came out about this $1.4 billion IMF
• 25:17
  loan, a lot of us, well, maybe me in particular, we're kind of
• 25:20
  giving Buchelli the benefit of the doubt, realizing that, hey,
• 25:23
  you know, he's got to do what he has to do for his country for
• 25:25
  infrastructure to build it to progress and Bitcoiners aren't
• 25:29
  the sole citizens that he is concerned about.
• 25:32
  Now, in hindsight, it looks like there was a lot of concessions
• 25:35
  that are being made around Bitcoin.
• 25:37
  Obviously the main thing that we saw that was I would say more
• 25:41
  aligned with the Bitcoin ethos is this idea that Bitcoin is now
• 25:43
  voluntary. As we all know, Bitcoin is a
• 25:46
  permissionless network. And so we kind of applauded that
• 25:48
  more like, OK, that's cool. Now it seems like there is a lot
• 25:51
  of concessions that are being made where they have to kind of
• 25:54
  divest from either buy more Bitcoin, Bitcoin mining, no more
• 25:58
  Bitcoin bond. It feels like a lot of L's right
• 26:01
  now, but it is very interesting that Naibu Kelly kind of is
• 26:04
  trolling on Twitter and still buying Bitcoin.
• 26:07
  Now I know some of the the fine print in that loan, again, it
• 26:11
  was 111 pages. It wasn't all about Bitcoin, but
• 26:15
  the bulk of it was about Bitcoin, which I think is very
• 26:17
  telling is that I think the buys of Bitcoin will have to end by
• 26:22
  2025. So maybe he's going to stack as
• 26:25
  much as he can. Though there is this talk about
• 26:27
  him having to divest from his Bitcoin holdings.
• 26:30
  So, you know, it's it's not looking good here.
• 26:33
  And as you know, the title kind of says, it does seem like
• 26:36
  Bitcoin country is officially over.
• 26:38
  This Bitcoin experiment in El Salvador seems to be dead now.
• 26:41
  It seems like we might not have any Bitcoin country left.
• 26:44
  And that's obviously horrible. And as we've been saying for a
• 26:47
  while, and Nico has been saying at the beginning of the show,
• 26:50
  ever since we saw El Salvador adopt Bitcoin, we were wondering
• 26:54
  why no one else has followed this lead of Naibu Kelly and
• 26:58
  started, you know, their own Bitcoin strategic reserves and
• 27:01
  their own stacking of Bitcoin, though, you know, Bhutan's still
• 27:04
  kind of going really strong out there.
• 27:06
  And now we know for a fact it's IMF.
• 27:07
  They're obviously pressuring these countries to stay away
• 27:10
  from Bitcoin. If they want their loans, if
• 27:12
  that, you know, they they want to maintain that money flowing
• 27:16
  in, then they can't touch Bitcoin.
• 27:17
  And I think this is the biggest signal.
• 27:20
  There's actually two things that I think are the biggest signal
• 27:22
  and Nico did hit both of them. One that as I said yesterday on
• 27:25
  the show, the biggest signal is that the IMF is absolutely
• 27:28
  terrified about Bitcoin. If they drop 111 page report on
• 27:32
  El Salvador, a tiny country, which now Nico Fact Check
• 27:34
  they're at 34 billion, but still tiny and and their main emphasis
• 27:38
  is Bitcoin. It's insane, like a tiny country
• 27:42
  adopting Bitcoin. It shouldn't really scare
• 27:45
  anyone. But as you can tell, they're
• 27:47
  starting to realize, or rather have realized a long time ago
• 27:51
  what Bitcoin actually means. And as Gladstein said, you know,
• 27:55
  Bitcoin is a revolution. And if it does catch on, as the
• 27:58
  Satoshi quote goes, then a lot of the Fiat games that we are so
• 28:03
  accustomed to that is kind of our status quo really go by, you
• 28:07
  know, the waste bin and they're over.
• 28:09
  And This is why this is kind of the final boss.
• 28:12
  We could argue that there's probably a few final bosses. 1
• 28:15
  is the Bank of International Settlements, basically the
• 28:17
  central bank, central bank. And then of course, the IMF with
• 28:20
  uses these loans to essentially enslave countries.
• 28:23
  Now the big part to me though, that is very interesting is that
• 28:28
  this very corrupt institution or very corrupt organization, the
• 28:32
  IMF is basically saying that, hey, you know, the El Salvador
• 28:36
  can't ethically acquire Bitcoin, but they can steal Bitcoin from
• 28:39
  anyone they want and that's OK by their guidelines.
• 28:42
  Now, like this kind of is like the simulation winking at us.
• 28:47
  Of course these institutions are going to be OK with them, you
• 28:50
  know, seizing Bitcoin and that's the only way they can acquire
• 28:53
  Bitcoin, which is just ass backwards as far as all of our
• 28:56
  US bit corners are concerned. So again, I'm not very happy
• 29:00
  about this. I think a huge L in regards to
• 29:03
  the global nation state adoption of Bitcoin though it is going to
• 29:06
  be very interesting to see see what happens in the US.
• 29:09
  Now if the US does kind of double down on their, you know,
• 29:13
  strategic shit coin reserve AKA mainly backed by Bitcoin, it's
• 29:17
  going to be interesting to see how the IMF responds to El
• 29:20
  Salvador or rather how El Salvador responds to IMF after
• 29:23
  the US does their own strategic Bitcoin reserve.
• 29:26
  Now again, it looks like Buckele is still buying Bitcoin, so I
• 29:32
  don't know. We'll have more news coming.
• 29:33
  Up from this. Hold on, we're OK, This is this
• 29:36
  is my next bit, right? We are El Salvador right now and
• 29:40
  the world because El Salvador represented.
• 29:44
  Remember, guys, symbolism is extremely important.
• 29:47
  OK? Symbolism is very important.
• 29:50
  The IMF didn't drop these rules after Naimbu Kelly dropped memes
• 29:58
  and drop a picture of them acquiring Bitcoin and Elon
• 30:01
  responding. None of that was a coincidence.
• 30:04
  But don't be naive. It's there's a tremendous amount
• 30:08
  of symbolism here. And what US Bitcoiners have to
• 30:11
  understand is we had a beach head.
• 30:14
  We had a beach head and that beach head was El Salvador where
• 30:18
  the men with guns, right? The state would essentially
• 30:23
  protect Bitcoiners because Bitcoin was legal tender, right?
• 30:26
  We've lost that beach head at the moment, right?
• 30:30
  That's the reality. El Salvador right now is at a
• 30:33
  crossroads, and I'll tell you why, Right.
• 30:37
  And I think Preston is 100% on point when he says Naimbu Kelly
• 30:42
  needs to address this publicly. And I know that he's thinking
• 30:47
  about it very, very deeply. Why am I saying that?
• 30:51
  Naimbu Kelly's last tweet was the meme about buying the dip.
• 30:56
  He has not tweeted since that tweet.
• 31:02
  El Salvador essentially is at a crossroads.
• 31:07
  And they have to essentially decide, you know, are we a
• 31:13
  sovereign country? Like, it's very, very harsh
• 31:17
  saying that, but that's essentially the decision because
• 31:22
  there you have an international organization that loves to talk
• 31:26
  about democracy. That is essentially saying we
• 31:31
  don't give a shit about democracy.
• 31:33
  You do exactly what I tell you. It doesn't matter that
• 31:37
  democratically you passed all these laws and the vast majority
• 31:41
  of the population wants to do this.
• 31:42
  No, no, no, no, we, the IMF make the rules about your economy and
• 31:49
  El Salvador, right? This is a crossroads moment in
• 31:54
  world history and Bitcoin history.
• 31:57
  And I agree with Preston. I think Naimbu Kelly has to
• 32:01
  address it. I think Max and Stacy, they've
• 32:06
  done an incredible job with the Bitcoin office and all this
• 32:09
  stuff. They, you know, I'm curious to
• 32:11
  see what their comments are on this stuff.
• 32:16
  I'm looking at Max's Twitter, nothing related to this.
• 32:21
  And let me take a look at Stacy because she's really been the
• 32:24
  one with the with the whole thing.
• 32:26
  Yep, last quote tweet from Stacy was exactly, you know, 15 hours
• 32:32
  ago, 13 hours ago quote tweeting Elon Musk and Naimbu Kelly.
• 32:36
  Make no mistake, the IMF was reacting to, you know, that
• 32:41
  meme, right? This is the power of memes.
• 32:44
  This is why it's narrative trench warfare on the
• 32:45
  battlegrounds of the Internet. That that literally is not an
• 32:49
  over exaggeration when we say that this is pretty crazy, guys.
• 32:52
  I don't know what else to tell you.
• 32:54
  We'll keep you guys informed. This is the separation of money
• 32:57
  and say did you really expect it to be easy?
• 32:59
  It was never going to be easy. And by the way, things are just
• 33:03
  going to get crazier from here because you guys have to
• 33:06
  understand what the implications are, right?
• 33:09
  Bitcoin is giving the power of money back to the people.
• 33:13
  That is what's happening. And obviously, you know, the
• 33:16
  powers that be do not want that to happen.
• 33:20
  So the gloves are going to come off, the real intentions are
• 33:23
  gonna be exposed, the real incentives are gonna be exposed.
• 33:27
  But I think we're gonna win at the end because Bitcoin is
• 33:30
  better incentives. It's really as simple as that.
• 33:32
  And no one is better than their incentives anyways.
• 33:34
  Guys, there's 2600 of you guys watching live between YouTube
• 33:38
  and X, and another 100 of you guys watching live on Rumble.
• 33:42
  If you guys are enjoying the show so far, make sure to smash
• 33:46
  that like button we have. We have almost about to break
• 33:49
  700 live viewers on YouTube alone help us break 250 likes
• 33:55
  within the 1st 45 minutes of the show.
• 33:58
  There's 700 of you guys. So just smash that like button
• 34:00
  right now. And also, if you guys think that
• 34:04
  this is a big loss for nation state Bitcoin adoption, drop A1
• 34:10
  in the chat. If you think that Bitcoin
• 34:12
  doesn't need nation state adoption, Bitcoin is a bottom up
• 34:15
  grass roots revolution, drop A2 in the chat.
• 34:19
  I want to hear your guys's thoughts.
• 34:21
  I think like I said, Bitcoin's going to win despite any of
• 34:25
  this. They can really only stop the
• 34:30
  top down implementations of Bitcoin.
• 34:34
  They can't stop the bottom up, you know, grass roots
• 34:39
  implementation of Bitcoin, the adoption of Bitcoin better said
• 34:42
  they can't stop it. It's unstoppable, right?
• 34:45
  But they definitely can put pressure on governments.
• 34:47
  They can put pressure on centralized entities, right?
• 34:51
  Anyways, guys, let us know. Drop A1 or drop A2 in the chat.
• 34:55
  We're going to hit the numbers. We have so much to talk about on
• 34:58
  today's show. An awesome clip of the Chad
• 35:01
  Sailor essentially talking about why Bitcoin is this massive,
• 35:05
  massive paradigm shift. We're going to be talking about
• 35:08
  that. And also on the European front,
• 35:11
  again, the attack on end to end encryption, they're going after
• 35:16
  it like crazy in the United Kingdom, in Europe as well,
• 35:20
  governments are putting pressure on tech companies to basically
• 35:23
  say no, you can't encrypt anything.
• 35:25
  We need a back door. We need a back door to all of
• 35:28
  this stuff, this and guys, this is insanity, this is crazy, this
• 35:33
  is guilt. This is you're guilty before
• 35:37
  you're guilty and you have to prove your innocence
• 35:39
  essentially. So we're going to be covering
• 35:41
  all of this stuff during today's show.
• 35:43
  It's going to be absolutely amazing.
• 35:44
  But before we get to all of that guys, I do want to give a very
• 35:48
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  Bitcoin price is $85,850, block height 886,309.
• 39:29
  So that's per dollar. 1165 market cap 1.7 trillion Bitcoin
• 39:34
  verse gold market cap 8.27 to 6% percentage issued 94.43% decline
• 39:42
  from all time high -21.4%. Realize monetary inflation guys.
• 39:48
  This is the central issue. This is the reason that they
• 39:53
  cannot allow a Bitcoin beachhead.
• 39:57
  They cannot allow a Bitcoin to be a legal tender currency.
• 40:05
  They cannot allow that under any circumstances because it is
• 40:11
  literally better money. The realized monetary inflation
• 40:14
  rate right now of Bitcoin is .96%.
• 40:18
  Fiat currencies goal is to get to 2%.
• 40:24
  It's at roughly 3% here in the United States.
• 40:27
  Bitcoin is literally going to go down forever that realized
• 40:30
  monetary inflation until it gets to 0.
• 40:34
  So This is why This is why this is happening.
• 40:37
  I mean, if you guys have been tuning into simply Bitcoin, none
• 40:39
  of this should have should come as a surprise to you.
• 40:42
  ANYWAYS, breaking news, Michael Saylor will be attending the
• 40:47
  White House crypto summit that is going to be happening at the
• 40:52
  White House on on on Friday. It's going to be absolutely
• 40:56
  historic, a historic moment for before the entire industry and
• 41:03
  he will be attending. It was just confirmed breaking
• 41:05
  news. Anyways, here is a here's a clip
• 41:11
  of him being interviewed by one of my good friends.
• 41:15
  Amazing journalist and content creator and podcaster Efrat.
• 41:19
  Big fan of hers. Go check out her her ex account
• 41:22
  and this is an interview that she had with Sailor at BTC
• 41:27
  Prague and Sailor talks about why Bitcoin is a pivotal shift.
• 41:31
  Let's check it out and then we'll talk about it.
• 41:34
  Bitcoin's a paradigm shift. It's the world's first perfect
• 41:38
  money. It's digital capital.
• 41:41
  It's the digital transformation of everything.
• 41:44
  That's capital asset. It's energy flowing into
• 41:49
  cyberspace. These are all profound,
• 41:53
  complicated, scary topics. It it converts all the economics
• 41:58
  you learned from an art to a science.
• 42:01
  Everything you learn, you have to unlearn.
• 42:03
  All of your monetary theory, you know all of your bromides.
• 42:08
  You know I have to have a diversified portfolio.
• 42:10
  Well, no, you don't. Diversification is selling the
• 42:14
  winner to buy the losers. But that's not what I've been
• 42:17
  taught for 30 years. Everything you're talking about
• 42:20
  is the opposite of everything I've been taught.
• 42:22
  You know every rich old person that I know, every rich old
• 42:27
  powerful person says that it's a scam.
• 42:31
  Well, every rich old powerful person doesn't need it.
• 42:33
  They're rich and they're old. What?
• 42:37
  There's nothing left for them in life to do.
• 42:40
  The people that need it are the 20 somethings, you know,
• 42:43
  starting their career. It's like, I don't have any
• 42:46
  money, I don't have any power, I don't have any respect.
• 42:50
  How am I going to get ahead? So what you have is this new
• 42:55
  thing. It's moving faster than the
• 42:57
  speed of sound. It's creating a shockwave.
• 42:59
  It's going through the economy. It's creating a lot of noise, a
• 43:04
  lot of sound, a lot of fury. It's scary.
• 43:09
  The human conventional reaction to any of that is to push back,
• 43:14
  right? Human nature is to fear that
• 43:18
  that we don't understand and to react with anger or irritation.
• 43:24
  Why are you pitching this? What is this scam?
• 43:27
  Why are you bothering with? I don't want to talk about this,
• 43:30
  right. So that being the case, you're
• 43:34
  selling a new idea, a new ideology, a new protocol, a new
• 43:38
  philosophy of economics, a new philosophy of money.
• 43:42
  You're selling a new idea of money to people that have never
• 43:45
  in their life thought about what money is.
• 43:48
  And you're, you're, you're questioning fundamental
• 43:51
  premises. And they're successful and
• 43:54
  they're comfortable and they're probably wealthier than you.
• 43:59
  So the natural reaction of of them is to treat you skeptically
• 44:06
  or rudely or reject you. And I think the right response
• 44:13
  is to think like a salesperson. The customer is always right.
• 44:19
  You're selling them a new product.
• 44:21
  This is a new product. It's better than the old
• 44:24
  product. It's an electric car.
• 44:26
  It's an electric refrigerator. It's electric hair dryer.
• 44:30
  It's a mobile phone. It's a new jet.
• 44:34
  It's a new kind of something. The customer's never seen it
• 44:39
  before. The customer's afraid of it.
• 44:41
  The customer doesn't get it. The customer tells you to get
• 44:44
  lost. The right response is, Well,
• 44:48
  Sir, I can understand why you would say this, but you know
• 44:51
  that your wife might like it. I can see why you'd say this,
• 44:54
  but you know it'll make your company rich.
• 44:56
  I can see why you would say this, but you know it'll help
• 44:58
  you win the election. I can see why you don't
• 45:01
  understand it, but if you spend a bit more time, you'd realize
• 45:04
  it'll make your bank successful. I, you know, well, I guess, I
• 45:09
  guess you don't understand it, but if your circumstance
• 45:12
  changes, we're here is a solution.
• 45:14
  Call me, right? The customer is right.
• 45:18
  Keep the door open. Be polite.
• 45:21
  They hate you, or they're rude, or they're rejecting you because
• 45:26
  they don't understand or they're afraid.
• 45:32
  So I do take it extremely personally.
• 45:35
  And yeah, I think what the, the the IMF did was extremely
• 45:42
  personal. But but in every other regard,
• 45:46
  what Sailor was saying about being a salesperson, don't ask
• 45:50
  what Bitcoin could do for you, ask what you could do for
• 45:53
  Bitcoin, right? So you know, your family, your
• 45:56
  friends, your community, right, Everyone gets distracted by the
• 46:01
  whole left and right, red versus blue thing.
• 46:04
  It's that's not really what's happening.
• 46:06
  What's happening? The battle hand that's been
• 46:09
  happening in the background is and now it's official.
• 46:16
  Now then we took a Big L, the Big L and, and I'm but Kelly has
• 46:20
  a decision to make and and Stacy and Max and my prayers and
• 46:24
  thoughts are with them. And I'm, I'm very curious to see
• 46:27
  where, what they do next. Because El Salvador definitely,
• 46:31
  I mean, the IMF really they made, they made their thoughts
• 46:34
  known. But the, the question is, you
• 46:41
  know, it, the, the battle at hand again is, is not red versus
• 46:45
  blue. The battle at hand is green
• 46:47
  versus orange, Bitcoin versus slavery, Bitcoin verse Fiat.
• 46:54
  That's really what's going on. Are you on the side of Bitcoin
• 46:57
  or are you on the side of Fiat? There is no in between or there
• 47:00
  is none. They cannot.
• 47:02
  A coercive system cannot coexist with an incentive based system.
• 47:08
  The coercive system can't have. You can't have an alternative
• 47:14
  next to it because people are just going to just choose the
• 47:16
  alternative. It it's like human nature.
• 47:19
  And if you guys want like a like a a small example of this is
• 47:24
  what was happening in in Nigeria.
• 47:27
  So Nigeria was one of the first country countries that rolled
• 47:32
  out a central bank digital currency.
• 47:35
  It was called the enaira extremely low adoption.
• 47:39
  It was a failure. It didn't work out, didn't work
• 47:42
  out. And instead of the Nigerian
• 47:45
  government basically saying like, Hey, you know what, like
• 47:48
  we should self reflect and like, you know, like, maybe maybe we
• 47:53
  should stop, we should stop printing money and create a, an
• 47:56
  incentive for people to use our money.
• 47:59
  No, you know, they did. They jailed one of the finance
• 48:02
  executives in the country and they blamed him for, you know,
• 48:07
  the currency falling apart. Like this is what this is what
• 48:10
  they did. So that's a foreshadowing of
• 48:14
  what's going to happen worldwide, right?
• 48:17
  And in Europe, it's the most intense, right?
• 48:20
  When you have European central bankers basically using words
• 48:24
  like sovereignty, we, we must retain the sovereignty of Europe
• 48:28
  by releasing a central bank digital currency.
• 48:30
  Like like the no, no, no, we must retain the sovereignty of
• 48:34
  politicians in Europe by releasing a central bank digital
• 48:37
  currency. Let's be clear.
• 48:39
  That's what they actually mean, but not the sovereignty of
• 48:42
  individuals, right? So this is what's happening
• 48:45
  right now. The Internet essentially has
• 48:48
  enabled a revolution of a revolt of the great awakening of the
• 48:54
  individual to truly reach financial sovereignty, truly
• 49:00
  become a sovereign individual. And that's really what's
• 49:04
  happening. That's this is the phenomenon
• 49:06
  that's happening worldwide. Then you have to ask yourself,
• 49:09
  you have to ask yourself, what team are you on and what are you
• 49:13
  doing every single day to get more people on your side of the
• 49:16
  football on more your side of Team Orange?
• 49:19
  All right. Anyways, Rajat, what's your take
• 49:21
  on this, brother? I think Sailor has been an
• 49:24
  incredible salesman for Bitcoin. His way of articulating things,
• 49:28
  his way of explaining things, where we are in history.
• 49:31
  What are your thoughts? I, I think people are just going
• 49:34
  to have to, to go through the education, right.
• 49:37
  If you don't understand what Bitcoin is, you're not going to,
• 49:40
  you're not going to get why this really, at the end of the day,
• 49:44
  this doesn't matter, right? Over time, the, the people who
• 49:48
  have Bitcoin, they're going to, they're going to run out.
• 49:50
  And if you, if you're either here, if you're either in
• 49:54
  Bitcoin today versus 4 years from now versus 8 years, 10
• 49:57
  years, 12 years, 15 years from now, the amount of Bitcoin that
• 50:01
  you're going to be able to buy with the same amount of dollars
• 50:05
  is going to decrease and decrease.
• 50:07
  The goal here is to keep you using dollars to keep you
• 50:10
  storing your value in dollars for as long as possible.
• 50:13
  Because as soon as you start giving away your dollars and
• 50:15
  soon as you want to not hold dollars, the value of the dollar
• 50:18
  falls. And that's what's leading to the
• 50:22
  price of Bitcoin just completely running away from most people.
• 50:27
  Most people won't be able to afford a million SAT's.
• 50:28
  And again, this is just it's a speed bump.
• 50:32
  Growth is never linear. You're never going to see
• 50:36
  everybody rooting for the same end goal.
• 50:39
  If there is information asymmetry, then you're taking
• 50:43
  advantage of like if we think about it or is it's a way to
• 50:48
  keep people working. It's a way to keep people
• 50:51
  working for at least 40 years of their lives.
• 50:53
  Let's say when you get a mortgage, you're going to get a
• 50:55
  mortgage. You're going to be paying for
• 50:57
  your mortgage for the next 30 years.
• 50:59
  I gave you money that I printed out of nothing.
• 51:02
  And it's earning interest on that money that the goal here is
• 51:05
  to keep you working, to keep you earning debt, to keep you
• 51:08
  increasing the GDP, to ink you to, to keep you earning taxes
• 51:12
  for the government. At the end of the day, it's it's
• 51:17
  all just a way to keep us as slaves.
• 51:19
  And Bitcoin's the only way out if the US dollar dies.
• 51:24
  How else do they control us? How else do they keep us working
• 51:27
  forever? How else do they keep us from
• 51:29
  spending time with our family and friends?
• 51:31
  How else do they keep us depressed relying on them?
• 51:34
  How else do they make it so that you're everybody else?
• 51:38
  Like, think about how much crime is happening right now.
• 51:41
  Why is that crime happening? It's because people are becoming
• 51:43
  degenerates. People are doing things because
• 51:45
  they can't afford their day-to-day life.
• 51:48
  And I mean, governments are a part of that.
• 51:50
  They want crime. They want instability because
• 51:53
  instability leads to people relying on them, gives them more
• 51:56
  power, gives them more ways to control us and keep us just
• 52:00
  following whatever, whatever plans they want us to follow it.
• 52:04
  It's just, it's, it's all a game.
• 52:06
  We're not part of it. We're, we're, we're the pawns.
• 52:09
  But at the end of the day, what Bitcoin does is it basically
• 52:12
  destroys that foundation that that they've built.
• 52:14
  So they've spent how many, how long have they spent teaching us
• 52:17
  that pieces of paper are money? Now Bitcoin is completely
• 52:21
  destroying that assumption. People are learning that that's
• 52:26
  not true. They're learning that money
• 52:27
  that's printed out of nothing is worthless.
• 52:30
  It's not worth anything at all. And they're getting rid of their
• 52:34
  pieces of paper. They're accumulating as much
• 52:36
  Bitcoin as possible. It's it's this is going to
• 52:40
  change everything. And when you truly understand
• 52:44
  how Bitcoin works, you start realizing that this is, this is
• 52:50
  going to be irrelevant 2030 years from now.
• 52:52
  We're going to be thinking, who cares?
• 52:53
  El Salvador has 8000 Bitcoin. How did they accumulate so much?
• 52:57
  That's the only thing that's going to matter.
• 52:59
  I think they, they were ahead of the, the, the gun on this race.
• 53:02
  They they accumulated Bitcoin when they could.
• 53:06
  Eventually everybody's not going to be able to accumulate
• 53:08
  Bitcoin. They're going to stop people
• 53:10
  from buying Bitcoin through exchanges.
• 53:11
  The only way to accumulate Bitcoin will be peer-to-peer.
• 53:14
  Who knows, El Salvador will will, will probably continue
• 53:16
  accumulating Bitcoin. They can also sell goods and
• 53:19
  services for Bitcoin. So if they start doing trade,
• 53:21
  maybe this is an incentive for them to start trading for
• 53:24
  Bitcoin and for receiving Bitcoin in exchange for goods
• 53:27
  and services. And they can easily give
• 53:29
  discounts to other countries for paying in Bitcoin.
• 53:32
  That's just their incentive to start global trade and to push
• 53:36
  Bitcoin adoption even further. I think there's always a
• 53:39
  positive side to things. Everything is good for Bitcoin.
• 53:41
  I I genuinely don't think that we're going to be talking about
• 53:45
  this in a year, 2 years, five years.
• 53:49
  Amen, Amen. Beautifully, beautifully said.
• 53:51
  All right, Opti, we are running a little bit, a little bit late
• 53:53
  today, so we're going to skip. You want to.
• 53:55
  You want to hit it, really. Really quick because there's two
• 53:57
  things sailors said that I've been saying for a long time.
• 54:01
  Well, the first one is when he was talking, it reminded me of
• 54:04
  that Fiat Times article about the PhD economist being like, if
• 54:09
  Bitcoin's working, maybe we have to you reevaluate monetary
• 54:12
  theory. And it's like, yeah, that's
• 54:14
  exactly what's going on for everyone.
• 54:16
  All of us young people get it. Everyone that's probably over 50
• 54:20
  and fully entrenched in the Fiat system is like this shouldn't be
• 54:23
  working and they're having a hard time wrap their heads
• 54:25
  around it. And the second point is I've
• 54:28
  been saying this same message on this show for at least in over a
• 54:33
  year that we need to tailor our Bitcoin pitch to the person
• 54:37
  we're talking about. You know, I know we like to do
• 54:41
  this verbal diarrhea. And you just go out and you
• 54:43
  start start ranting about Bitcoin and the person's eyes
• 54:47
  start glazing over and it's like, no, Taylor, your message
• 54:50
  to the person you're talking about, find their pain points.
• 54:53
  And this is how you sell Bitcoin better.
• 54:55
  And of course, Taylor said that in a way that is is, you know,
• 54:59
  much more complicated, but it's a very simple message.
• 55:01
  I've literally been saying this on the show for over a year now.
• 55:04
  That's like you don't use the same pitch on every person.
• 55:07
  You got to figure out what their pain points are.
• 55:09
  And this is how we sell Bitcoin better.
• 55:10
  We are literally Bitcoin's marketing team.
• 55:12
  This is why I wear the hat, you know, Bitcoin propaganda
• 55:15
  department all the time. We are Bitcoin propagandists
• 55:17
  after all, every single one one of us.
• 55:19
  You need to send and tailor that message to the person in a
• 55:22
  specific way so that they can understand the value proposition
• 55:26
  of Bitcoin. It's like a super simple, simple
• 55:28
  idea that I think a lot of us Bitcoiners forget.
• 55:31
  Absolutely guys, if you've. Orange peeled someone drop A1 in
• 55:34
  the chat. If you still haven't orange
• 55:36
  peeled someone drop A2 in the chat let us know guys, we're
• 55:40
  going to hit the news segment. We're going to be talking about
• 55:43
  the war on end to end encryption.
• 55:45
  It's in Europe. It's it's in the Uki think of
• 55:49
  it's going to come to the United States.
• 55:51
  Look, guys, you have to understand something.
• 55:54
  The state, as long as they have a money printer, is unfixable.
• 55:59
  And they're going to become more and more and more coercive
• 56:04
  because it's a system based on theft.
• 56:06
  It's a it's, it's fundamentally flawed.
• 56:08
  It's a flawed system and they it, it's not that, you know,
• 56:12
  these guys are twirling their mustaches and saying like, ha,
• 56:16
  ha, let's, let's, let's, let's enslave everybody.
• 56:20
  It has nothing to do with that. It has to do with the fact that
• 56:23
  the system based on theft. And then because it's a system
• 56:25
  based on theft, they have to coerce people into using that
• 56:28
  said system, right. So anyways, guys, we're going to
• 56:31
  hit the new segment. We're going to be right back.
• 56:33
  We have so much to cover today, guys, So stay tuned.
• 56:37
  We'll be right back. I want to give a shout out to
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  Check out leaden dot IO today. All right, everybody, we are
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  back smash that like button guys.
• 59:15
  If you're you guys are listening to simply Bitcoin live with your
• 59:18
  host, Nico Mighty, legendary Co host, always optimistic optimist
• 59:22
  fields and our special guest for today, Rajat.
• 59:25
  We're going to talk to Rajat today about his YouTube channel,
• 59:27
  all the amazing work he's been doing during the culture
• 59:30
  segments. You guys definitely want to stay
• 59:31
  tuned for that. But first, let's talk about
• 59:34
  today's news. So this is an article back from
• 59:37
  February. Apple pulls E2 EEI cloud
• 59:41
  encryption in UK boots 135,000 Non compliant apps from EU App
• 59:48
  Store Apple I cloud backups can no longer be end to end
• 59:52
  encrypted in the UK while all apps without a verified trader
• 59:56
  status and contact information have been removed from the EU
• 1:00:01
  App Store to comply with the EU Digital Services Act.
• 1:00:06
  Has removed it's advanced data protection tool for new
• 1:00:09
  customers in the UK after the government demanded backdoor
• 1:00:14
  access to encrypted user data. ADP is an opt in feature used
• 1:00:19
  for protecting sensitive user data such as iCloud files,
• 1:00:24
  photos, notes and other stuff. Quote Apple can no longer offer
• 1:00:28
  advanced data protection in the United Kingdom to new users or
• 1:00:32
  current UK users will eventually need to disable this security
• 1:00:36
  feature. Apple exposed expressed grave
• 1:00:39
  disappointment over this decision, stating it will make
• 1:00:42
  UK users more vulnerable to data breachers, data breaches and
• 1:00:46
  other security threats. Meanwhile in the EU, Apple
• 1:00:49
  removed 135,000 non compliant apps.
• 1:00:53
  This is, this is interesting. How long?
• 1:00:57
  Remember in the EU right now, there's a law with the Mika laws
• 1:01:01
  that if you are, it's illegal to send Bitcoin peer-to-peer if
• 1:01:07
  it's more than €1000, or at least illegal for if you're
• 1:01:12
  withdrawing from an exchange and you're sending, say you want to
• 1:01:17
  send it to somebody, it's illegal to send more than €1000.
• 1:01:23
  And essentially, if you're in the, if you're in the EU, you
• 1:01:27
  have to prove ownership of the wallet you're sending it to.
• 1:01:32
  How long until they say, listen, even with these laws, it's, it's
• 1:01:38
  very difficult to implement. So the only way we're going to
• 1:01:41
  allow people to hold Bitcoin is with a compliant app.
• 1:01:46
  So the Bitcoin wallet that you download has KYC, you know, all
• 1:01:51
  that stuff like the KY, the, the Bitcoin wallet that you download
• 1:01:54
  has KYC has all the stuff implemented into it.
• 1:01:58
  How long until that happens? I mean, guys, look at what
• 1:02:01
  happened. Remember where we are in history
• 1:02:03
  right now. Like, yeah, you guys have to
• 1:02:04
  remember where we are in the movie.
• 1:02:06
  Look at what the IMF just did to El Salvador.
• 1:02:08
  They they don't care. They don't care.
• 1:02:12
  This is the separation of money, you say.
• 1:02:14
  You guys have to understand what?
• 1:02:17
  Look, guys, this is for all the marbles.
• 1:02:19
  This is the final battle. This is like, this is such a
• 1:02:24
  pivotal moment in human history. I don't think you guys
• 1:02:27
  understand what what's happening here, right?
• 1:02:30
  This is why we cover this type of news because it's really
• 1:02:33
  important to be informed, right? Information is power.
• 1:02:36
  This is how you educate the person to your left, the person
• 1:02:40
  to your right. You take agency, you take
• 1:02:42
  action, you get involved. We got so much optic.
• 1:02:45
  Can you make me full screen? We got so much shit.
• 1:02:50
  I'm just going to say it for going out and saying Trump 2024,
• 1:02:54
  RFK 2024, we got so much crap. They're like, Nico, Trump's a
• 1:02:59
  shit corner. He's into crypto.
• 1:03:00
  That's true. Trump's a crypto president.
• 1:03:02
  He's not a Bitcoin only president.
• 1:03:05
  But we get so much crap. It's like, why are you guys
• 1:03:07
  getting political? Why are you getting whatever?
• 1:03:10
  Bitcoin inherently is political. This is what you guys have to
• 1:03:12
  understand, and politics is a very messy process.
• 1:03:17
  It's not. It's not just you're going to
• 1:03:20
  get everything you want. It's concessions, but I'm going
• 1:03:23
  to take victories while we can get them.
• 1:03:26
  And the fact that we are now in the room in DC was a huge
• 1:03:31
  victory. You want to know why this isn't
• 1:03:33
  happening in the United States? What's because of the election
• 1:03:36
  that happened November? We got Ross freed.
• 1:03:39
  You guys have to understand that we repealed SAB 121, we ended
• 1:03:44
  Operation Choke .2 Point O because you guys took action,
• 1:03:47
  because you guys took agency. And our movement was so
• 1:03:50
  influential that Donald Trump had no choice but to turn to the
• 1:03:55
  Bitcoin community and say, hey guys, I need your vote.
• 1:04:00
  Like this is just going to accelerate from here.
• 1:04:03
  This is not going to stop and this is what you guys have to
• 1:04:05
  understand. So what world do you want to
• 1:04:09
  live in in the future? What world do you want your
• 1:04:11
  children to live in? Because this is the this is the
• 1:04:13
  alternative. When I say Bitcoin or slavery,
• 1:04:16
  that's slavery. I'm pointing it out to you.
• 1:04:19
  A world where the government you can't have anything to end to
• 1:04:22
  end encrypt the the government has full access to everything
• 1:04:26
  you're saying and reading. No privacy at all 0 like that's
• 1:04:31
  insanity. And remember these are the same
• 1:04:33
  people like the the the example with doge is hilarious because
• 1:04:37
  it's always projection right? Like they tried to pass a law
• 1:04:41
  with the infrastructure act that would essentially require that
• 1:04:44
  every $600.00 transaction had to be reported.
• 1:04:48
  Then Doge goes in there and discovers vast amount of fraud
• 1:04:53
  to the tune of billions of dollars.
• 1:04:57
  So they expect the peasants, the plebs, to go along with the
• 1:05:03
  $600.00 reporting requirement. But then when you audit them,
• 1:05:09
  they cry and they say no, this is a threat to democracy.
• 1:05:12
  No, they're projecting. It's all projection.
• 1:05:17
  Anyways, moving on to the next article.
• 1:05:19
  Thank you, Opti. I appreciate it.
• 1:05:22
  This is today's news. European states continue their
• 1:05:26
  race for encryption backdoors. European policy makers continue
• 1:05:31
  to push forward various proposals and regulations that
• 1:05:35
  would severely compromise the privacy and security of European
• 1:05:38
  citizens. In France, a proposed Narco
• 1:05:41
  traffic law amendment would require encrypted communication
• 1:05:44
  services to create backdoors for law enforcement access within 72
• 1:05:48
  hours. Non compliance could lead to
• 1:05:50
  fines of 1.5 million for individuals and 2% of global
• 1:05:55
  turnover for companies. The amendment has already passed
• 1:05:58
  the seminit and is moving to the National Assembly.
• 1:06:01
  Weakening encryption laws for law enforcement inevitably
• 1:06:04
  creates vulnerabilities that can that can and will be exploited
• 1:06:08
  by cyber criminals and hostile foreign actors.
• 1:06:11
  The law would not just target criminals, it would destroy
• 1:06:14
  security for everyone. I don't think they care.
• 1:06:17
  This is this is what like it, it's with the same thing with
• 1:06:20
  the IMF. Like it, it doesn't matter that
• 1:06:23
  you're essentially, you know, the IMF is going in there and
• 1:06:27
  potentially hurting Salvadorian citizens and potentially, you
• 1:06:33
  know, stopping the ability for their country to get ahead
• 1:06:37
  because they're building this giant Bitcoin reserve.
• 1:06:40
  It doesn't matter for the IMF. What matters is that they keep
• 1:06:44
  control. This is they don't care about
• 1:06:46
  any of this. It just it's about control.
• 1:06:50
  Like after the last 10 years, guys, with the pandemic, with
• 1:06:55
  this recent election, the first pro crypto and Bitcoin candidate
• 1:07:00
  almost assassinated twice. Like, you know, an interesting
• 1:07:06
  election in 2020, just to put it nicely, like come on now, like
• 1:07:12
  no, now, without a shadow of a doubt, like we know that the
• 1:07:15
  that legacy media like it it it come on it.
• 1:07:20
  It doesn't really feel like news organizations.
• 1:07:23
  It's like Pravda 2 point O, except it's in the US, right?
• 1:07:26
  Yeah, this is ridiculous guys. Look, when we say Bitcoin or
• 1:07:29
  slavery, this is the alternative.
• 1:07:31
  This is the alternative world. This is the Fiat based world.
• 1:07:35
  This is the world that you choose.
• 1:07:37
  If you you want to live in a Fiat based world, this is what
• 1:07:39
  you're going to get. It's time to put the power back
• 1:07:43
  in the hands of the people and that is absolutely impossible.
• 1:07:48
  As long as governments have the ability to create money for free
• 1:07:51
  that the rest of us peasants have to work for with Bitcoin
• 1:07:56
  levels the playing field. And look at how terrified they
• 1:08:01
  are. Look at what happened with the
• 1:08:03
  IMF and El Salvador. Anyways, I'm going to pass it on
• 1:08:05
  to Rajat. Rajat, what are your thoughts on
• 1:08:07
  this? Man?
• 1:08:08
  Not surprising at all. But I think it's incredibly
• 1:08:11
  important to cover this type of stuff because, yeah, I mean,
• 1:08:16
  like, look at the look at the night and day difference.
• 1:08:19
  Like, look at the night and day difference.
• 1:08:20
  Look at the the path Europe is heading and look at the path the
• 1:08:24
  United States is heading because of this recent election, right?
• 1:08:27
  And this is where we are in Bitcoin's, Bitcoin's history,
• 1:08:30
  guys. Like Bitcoin is coming out of
• 1:08:32
  the shadows and it's entering into the global stage, right?
• 1:08:36
  So you have to ask yourself, are you going to step up?
• 1:08:39
  Are you gonna step up and do what's right?
• 1:08:41
  Take agency and action? Rajat, what are your thoughts?
• 1:08:45
  It just compounds over time. It's gonna continue to get worse
• 1:08:48
  in certain countries. It's going to continue to get
• 1:08:50
  better in other countries. I, I don't think there's any way
• 1:08:52
  to, to stop this. The only way to see where, where
• 1:08:56
  to, to, the only way to really guide this is to make sure that,
• 1:09:00
  I mean, your government makes the right decisions.
• 1:09:03
  You can't stop them from trying to control you.
• 1:09:06
  I, I think, I think Bitcoin just starves them of their power.
• 1:09:09
  With the way that things are going right now, they can spend
• 1:09:12
  power, they can spend money however they want to.
• 1:09:15
  And with Bitcoin, they can't, they can't print money, they
• 1:09:19
  can't just borrow unlimited money.
• 1:09:20
  It changes everything. The, the entire dynamic of power
• 1:09:25
  structures is, is going to change.
• 1:09:28
  We're, we're going to see things either get worse for certain
• 1:09:34
  areas of the world, let's say Europe, things are going to keep
• 1:09:37
  getting worse, keep getting worse.
• 1:09:38
  They're going to be more and more restrictions and, and like
• 1:09:43
  I said, it's going to build and build and build until it's
• 1:09:46
  unbearable. I, I, I, I think people are
• 1:09:49
  going to, to, to riot there. There's going to be a lot of
• 1:09:53
  pushback from people as soon as they start seeing how how
• 1:09:56
  negatively this they they this impacts their lives and how much
• 1:09:59
  freedom they're losing. 100 percent, 100%, again, like
• 1:10:03
  history has shown. Rajat yeah, I think you out of
• 1:10:05
  all people appreciate this, right?
• 1:10:07
  The best way to organize a society and a non coercive way
• 1:10:11
  is via free markets. It's via liberty.
• 1:10:13
  It's it allows entrepreneurs to build businesses and that
• 1:10:18
  historically that has shown to be the only way for a society to
• 1:10:22
  really prosper, right. We've gone down the totalitarian
• 1:10:26
  route many times, many times throughout, you know, the last
• 1:10:30
  century and change. And every single time it ends
• 1:10:34
  the same poverty, despair, a Fort like, you know, a tyranny
• 1:10:40
  censorship. So yeah, it it's time to try
• 1:10:44
  something new. It's and I think Bitcoin is, is
• 1:10:46
  going to allow a new form of government.
• 1:10:48
  I saw a lot of people in the chat, you know, saying Nico's an
• 1:10:52
  anarchist or whatever. No, no, I think government is
• 1:10:54
  necessary. I think the state is necessary
• 1:10:57
  because if not, it would be chaos.
• 1:10:58
  But a much smaller opti smiling, but a much smaller version, you
• 1:11:04
  know, small, much smaller government.
• 1:11:05
  I I don't think you can have small government government to
• 1:11:09
  its utility value unless you get rid of the money printer.
• 1:11:13
  Also the rumble chat guys. You just love to beat me up
• 1:11:15
  every single day. Nico's this Nico's that
• 1:11:18
  appreciate it. Please smash the like button at
• 1:11:20
  least and thank you for the engagement Opti.
• 1:11:23
  What are your? What are your thoughts on this
• 1:11:25
  brother? I mean, Europe is going down the
• 1:11:28
  Europe's going down the the the path, man.
• 1:11:31
  It's Nico this, Nico that. Every day bro, every day I get
• 1:11:38
  roasted. I'm getting.
• 1:11:38
  Roasted today too on the YouTube chat.
• 1:11:40
  So hey, it's part of the game, part of the game.
• 1:11:43
  But yeah, look, my thoughts on this is one Europe is so
• 1:11:46
  absolutely wrecked. I would not want to live in
• 1:11:50
  Europe. It's it's going downhill very
• 1:11:53
  quickly. And then two, as an American,
• 1:11:55
  I'm glad that I don't have to listen to European since 1776.
• 1:11:59
  So like nothing they say means anything to me anymore when
• 1:12:02
  they're whole, you know, that whole side of the other side of
• 1:12:06
  the Atlantic is just getting absolutely wrecked.
• 1:12:08
  But you really start to understand what's going on when
• 1:12:11
  you realize that, like Europeans are extremely poor right now.
• 1:12:14
  I'm not moving to Europe, never will never have.
• 1:12:19
  But like I, like I'm saying once, once you really understand
• 1:12:21
  kind of the economics of what's going on in Europe, they're
• 1:12:24
  they're all, they're all wrecked right now.
• 1:12:25
  They're they can't use electricity, they can't use
• 1:12:27
  energy. And as the, the society starts
• 1:12:31
  to crumble, of course, the politicians and people in power
• 1:12:34
  are trying to scramble for more and more control.
• 1:12:37
  And this is what we're seeing play out right now.
• 1:12:39
  And it's obviously absolutely horrendous and it's horrible.
• 1:12:44
  It's disgusting. Like what's going on in Europe
• 1:12:46
  is absolute trash. The collectivists are in
• 1:12:48
  control. It's absolutely wrecked.
• 1:12:50
  I do. I'm so glad I'm not European.
• 1:12:52
  I'm so glad we don't have to listen to Europeans.
• 1:12:54
  I I love my European descent. No, I I love, I love Europeans,
• 1:12:58
  man. I I just think, dude, I'm
• 1:12:59
  European. I am, I'm I'm, I'm European like
• 1:13:02
  from descent. I I like, I'm proud of
• 1:13:04
  MyHeritage, but bro, the society's.
• 1:13:07
  Right. I love Europeans.
• 1:13:09
  I just think that certain political choices that are being
• 1:13:12
  made in Europe, no. No, no, America is the best.
• 1:13:16
  They'll follow our lead, bro. I, I think that it's, Brussels
• 1:13:24
  has too much power. I would say that Brussels in the
• 1:13:26
  form of government has too much power.
• 1:13:28
  I love Europe. I have friends in Europe.
• 1:13:30
  I think it's beautiful. I also love the United States.
• 1:13:33
  But yeah, I mean, I, I don't like where they're where they're
• 1:13:36
  heading politically that just, you know, it's I, I think
• 1:13:40
  freedom always wins rather than tyranny.
• 1:13:43
  I also want to give a shout out to the live stream.
• 1:13:45
  We got 3339 live viewers, 88 live viewers on, on Rumble.
• 1:13:52
  Shout out to you guys. Appreciate the Rumble audience,
• 1:13:54
  appreciate the YouTube audience and the ex audience as well.
• 1:13:57
  We absolutely love you guys. We want to be here without you.
• 1:14:00
  By the way, guys, we have some special before we move on to the
• 1:14:04
  culture segment to talk to Rajat and everything that he is
• 1:14:08
  working on. By the way, guys, if you don't
• 1:14:10
  know, you probably do know Rajat has one of the best Bitcoin
• 1:14:14
  channels. You guys got to check it out.
• 1:14:16
  It's on YouTube. I'm personally a big fan of it.
• 1:14:19
  It's kind of like Bitcoin University.
• 1:14:21
  No BS, no bells and whistles, just straight to the source
• 1:14:24
  information direct into your veins.
• 1:14:27
  I'm a big fan, but before we get into it, do you want to give a
• 1:14:30
  shout out guys? Simply Bitcoins latest limited
• 1:14:34
  edition merch just dropped. Opti right now is modeling the
• 1:14:37
  T-shirt. Guys, we ordered way too little
• 1:14:40
  of this, but we realized that after the fact, after the fact.
• 1:14:45
  So this stuff is flying off the shelves.
• 1:14:48
  Get yourself a Simply Bitcoin hoodie with the new branding, a
• 1:14:51
  simply Bitcoin shirt. You know, we pay attention to
• 1:14:53
  details. This is all high quality, has
• 1:14:56
  custom labels, the the materials incredible.
• 1:14:59
  So guys, check it out. It's really cool.
• 1:15:02
  The hats are what tends to sell off, sell out first.
• 1:15:06
  So yeah, check out the new collection.
• 1:15:09
  There's a link down below. We'll also put it in the live
• 1:15:11
  chat so you guys can check it out if you guys want to support
• 1:15:15
  the show really, really helps. And yeah, just Rep, just Rep
• 1:15:19
  simply Bitcoin. Really appreciate it.
• 1:15:21
  All right, everybody, let's get to the culture.
• 1:15:23
  We have tons to talk about. We're going to talk to Rajat
• 1:15:26
  about his YouTube channel, what he's working on, his thoughts.
• 1:15:29
  We will be right back. I want to give a shout out to
• 1:15:33
  our partner Hive Digital Technologies.
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  As the first ever public miner, Hive's position to quadruple
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  their global footprint in 2025 and as the first with an AI
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  performance computing. They consistently topped the
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  And now they're headquartered in the USA.
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  They're leaning me, they're green and clean, and they're
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  changing the game. You can catch the latest buzz by
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  following them at Hive Digital Tech or check out their website
• 1:16:11
  at Hive digitaltech.com. I want to give a very special
• 1:16:26
  shout out to our sponsor Compass Mining.
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• 1:17:17
  All right, everybody, we are back.
• 1:17:18
  It's the culture segment guys. Smash the like button.
• 1:17:22
  We already broke 300 likes on YouTube by the end of the show.
• 1:17:25
  Help us break at least 350 likes.
• 1:17:28
  If you guys are enjoying this show so far, you're listening to
• 1:17:31
  Nico Opti and our special guest today, Rajat.
• 1:17:34
  We're going to talk about all things Rajat right now during
• 1:17:36
  the culture segment, Opti. Yes, Sir.
• 1:17:39
  Thank you. So Rajat, you came on the show,
• 1:17:42
  I forget now what episode. I think it was maybe a close to
• 1:17:47
  a year ago. It was a long time ago.
• 1:17:48
  No, it was way longer than that. Yeah, it was a long.
• 1:17:50
  Time at least a year ago and the first thing that you wanted to
• 1:17:54
  talk about today was just how far you've come on your Bitcoin
• 1:17:59
  journey. So maybe let's start with what
• 1:18:02
  was your initial thinking on Bitcoin when you came on the
• 1:18:05
  show and how has it developed? And then we'll talk about some
• 1:18:07
  other things. So I started thinking of Bitcoin
• 1:18:11
  as just another asset. It doesn't compete with anything
• 1:18:15
  else. It's part of a diversified
• 1:18:17
  portfolio. You should own everything.
• 1:18:19
  Now I see it as the complete opposite.
• 1:18:22
  So you should own nothing but Bitcoin.
• 1:18:28
  Everything else is just a a consumption item.
• 1:18:30
  Let's say for example, houses, people are going to buy as many
• 1:18:33
  houses as they can, but the price of housing is going to
• 1:18:36
  trend to 0 in terms of Bitcoin forever.
• 1:18:39
  And you can't stop that from happening.
• 1:18:41
  It's going to happen forever. You're going to see houses drop
• 1:18:43
  from 4 Bitcoin to three Bitcoin to two Bitcoin.
• 1:18:47
  It's going to keep falling. I think a house is going to cost
• 1:18:50
  something like 10:15 million Satoshi's, maybe even less than
• 1:18:53
  that over time. I mean that that it's just, it's
• 1:18:58
  just how it how it works. Nothing else is as finite as
• 1:19:02
  Bitcoin. Everything else is basically
• 1:19:05
  just AI mean. I don't know, I would say
• 1:19:08
  everything else is pretty much just like a way to just stop
• 1:19:13
  people from buying Bitcoin, right?
• 1:19:16
  If if you own rental properties, then it's.
• 1:19:19
  Your rental property is a placeholder for whenever you buy
• 1:19:22
  Bitcoin that. I.
• 1:19:25
  I've completely changed. Before I used to think, OK, you
• 1:19:28
  buy Bitcoin because you want to diversify your portfolio, you
• 1:19:31
  want to get higher returns. But no, that you don't buy
• 1:19:34
  Bitcoin for the returns. Bitcoin is money.
• 1:19:36
  You're, you're just replacing everything else.
• 1:19:38
  You're replacing everything else that has monetary value to you
• 1:19:40
  with Bitcoin. And I didn't think of it that
• 1:19:42
  way. I didn't see it that way because
• 1:19:43
  I didn't quite understand it. Bro, holy cow.
• 1:19:48
  I mean, this is, this is, this is wow, wow.
• 1:19:54
  Actually I have a question. I this is great.
• 1:19:56
  No, bro, I, I remember the show that Rajat came on.
• 1:20:00
  Man, this is this is gnarly. I can't.
• 1:20:02
  OK, hold on, Rajat. Could you tell everybody, could
• 1:20:05
  you tell everybody your background?
• 1:20:07
  Because yeah, you have, you have a very, you have a very
• 1:20:09
  impressive background. Like and, and I want to tack on
• 1:20:11
  and one more question. Tell people your background, but
• 1:20:14
  also, do you think that that was a factor of you having to
• 1:20:16
  unlearn a lot of things to get to where you are today?
• 1:20:20
  Yeah, So I had my CFA. It took me what, 3 years to
• 1:20:24
  study for the CFAI, Failed it a couple of times.
• 1:20:27
  I thought the CFA was difficult. And then I started learning
• 1:20:29
  about Bitcoin and I learned so many things that I had never
• 1:20:33
  even considered. I, I think that's what Bitcoin
• 1:20:36
  does. It just opens so many doors.
• 1:20:38
  It makes so many people think of the world completely
• 1:20:40
  differently. And I, I, I was exactly like
• 1:20:42
  that. You don't know what you don't
• 1:20:43
  know until you finally figure it out, right?
• 1:20:46
  I used to think rental properties are great.
• 1:20:48
  I used to think stocks are great.
• 1:20:49
  I have that CFA background, so I was constantly surrounded by
• 1:20:52
  yield, constantly surrounded by dividends, people just buying
• 1:20:56
  random stocks that they have no idea what those companies do.
• 1:20:59
  It was, it was really scary when you, when you think about it,
• 1:21:03
  the entire system is just designed to get people stuck in
• 1:21:07
  a system where all of their wealth is tracked and, and
• 1:21:10
  Bitcoin changes that. It was really difficult to, to
• 1:21:12
  wrap my head around that. I, when I, when I hear people
• 1:21:15
  like Peter Schiff saying that Bitcoin is a scam, I mean, I
• 1:21:20
  feel bad for him to be honest, because he doesn't understand
• 1:21:23
  it. He hasn't put in the time.
• 1:21:24
  I was exactly like that. I mean, your show, like I said,
• 1:21:27
  has contributed to my knowledge so much.
• 1:21:30
  It's given me, It's made me think more about where the world
• 1:21:34
  is going. I mean, at the, at this point, I
• 1:21:37
  think of, I think of real estate as almost exploitation.
• 1:21:41
  If you're buying real estate as an investment, you're exploiting
• 1:21:44
  the people around you, right? Because you need a way to store
• 1:21:48
  your wealth and governments want you to exploit other people.
• 1:21:52
  It's divide and conquer, right? We have a system where you have
• 1:21:56
  tenants and you have landlords. The tenants try to take
• 1:21:59
  advantage of the, I'm sorry, the, the landlords try to take
• 1:22:02
  advantage of the tenants and tenants have to do whatever they
• 1:22:05
  can to survive. The landlords are able to buy
• 1:22:08
  houses with money that's created out of nothing.
• 1:22:11
  And those tenants have to work to earn a place to live in.
• 1:22:16
  Eventually they're paying their time to their landlord And, and
• 1:22:20
  the system is designed to keep that going.
• 1:22:22
  It's just a, like I said before, it's a way to keep us working if
• 1:22:25
  you can't afford a house. And, and that's generally
• 1:22:28
  millennials, Gen. Z, you're going to be a victim
• 1:22:32
  of the system. If you don't switch over to
• 1:22:34
  Bitcoin, you're here, you're going to be a victim of slavery.
• 1:22:37
  And, and it took me a really long time to figure that out.
• 1:22:40
  I, I didn't figure that out until I think it may have been
• 1:22:46
  August of 2023. I, I made a post to then where I
• 1:22:50
  said I sold all my stocks for Bitcoin.
• 1:22:52
  That was when I really got it. Before that, I was I, I think I
• 1:22:55
  was, I would say, I would say I was confused.
• 1:22:58
  Dude, this isn't this is, I mean, what you're saying, Rashad
• 1:23:01
  is, is, is very significant because you're basically saying
• 1:23:05
  like, like you don't need. And this is the the it's so
• 1:23:10
  simple, it's complicated. It's so simple, it's
• 1:23:13
  complicated. I can't emphasize this enough.
• 1:23:15
  I've had so many conversations with like higher net worth
• 1:23:17
  individuals that really rely on, on Tradfi to manage their
• 1:23:23
  wealth, right? And I go up to them, like,
• 1:23:26
  listen, like let's say they get a, a, a, a 12% return or 50,
• 1:23:31
  which is incredibly difficult to do it consistently over a long
• 1:23:34
  period of time, right? And I'm like, listen, all you
• 1:23:37
  got to do is buy Bitcoin put into self custody.
• 1:23:41
  And most likely it's going to give you between A50 to 20%
• 1:23:45
  return for the next 15 years, right?
• 1:23:47
  That's all you got to do. You don't have to pay someone.
• 1:23:50
  You just do whatever. You just have to buy it to boom,
• 1:23:52
  boom, boom, Bing. That's it, right?
• 1:23:55
  And it doesn't compute in their, in their minds because it, and
• 1:23:59
  because it's like they've been essentially conditioned.
• 1:24:02
  I, I can't think of another word to describe it, to believe that.
• 1:24:06
  Look some for some reason you have to become a part time
• 1:24:10
  investor just to maintain your purchasing power.
• 1:24:13
  Like that idea is ludicrous. It's insane.
• 1:24:17
  Like the idea that a house is seen as an investment is
• 1:24:23
  ridiculous and it's because of broken money.
• 1:24:26
  And just seeing you say this, Rajad is, is so like
• 1:24:32
  heartwarming, man. Because I remember our first
• 1:24:34
  conversation and just now you're just like a full blown maxi,
• 1:24:37
  more of a maxi than opti, honestly.
• 1:24:40
  I'm just kidding. I'm just kidding.
• 1:24:43
  Equal level maxi. But so, you know, this is
• 1:24:47
  incredible to hear you say that. Now, could you put some, and
• 1:24:50
  you're going to be able to explain this much better than me
• 1:24:52
  and Opti Rajat, because this is, this is your background.
• 1:24:55
  Could you break down your reasons?
• 1:24:58
  Like you made a very strong claim, which is like, look,
• 1:25:02
  houses are going to go down to their utility value.
• 1:25:04
  Nothing's going to outperform Bitcoin.
• 1:25:07
  How did you come to that conclusion?
• 1:25:10
  And could you talk a little bit about how housing is going to
• 1:25:13
  get cheaper over time as it relates to Bitcoin?
• 1:25:17
  I think it's really simple. Over time, you're going to
• 1:25:19
  continue to see the price of housing increase in terms of
• 1:25:22
  dollars. So if you save in dollars,
• 1:25:24
  you're going to keep getting diluted, your wealth is going to
• 1:25:26
  keep disappearing. So I, I think it's very simple
• 1:25:29
  in, in that more dollars will chase houses forever, Fewer
• 1:25:34
  Bitcoin will chase chase houses forever because the, let's say
• 1:25:37
  for example, I have 4 Bitcoin. How many people can afford for
• 1:25:41
  Bitcoin to pay for a house? You can't, you can't afford.
• 1:25:46
  Most people can't even imagine owning 4 Bitcoin at this point
• 1:25:50
  and, and it's not going to, it's not going to be happening for
• 1:25:53
  most people. I, I think most people aren't
• 1:25:54
  going to, are going to be able to buy less than 100,200
• 1:25:58
  thousand satoshis. They're going to have way less
• 1:26:00
  than that. So how is a house supposed to be
• 1:26:04
  worth for Bitcoin when people are going to have 102 hundred
• 1:26:08
  300,000 satoshis? I mean, I, I think it's, I think
• 1:26:11
  it's kind of a difficult route to, to, to take.
• 1:26:16
  But the way that I see it, why would you want pieces of paper
• 1:26:21
  for your labor? It's, it's, it's your time.
• 1:26:24
  You can't get it back. Once it's given to someone, you
• 1:26:27
  can't get it back. But on the other hand, let's
• 1:26:28
  say, for example, if you work with a certain company and they
• 1:26:32
  borrow money to pay your wage, they're literally getting the
• 1:26:35
  bank to create that money out of thin air to pay you for
• 1:26:38
  something that you can never get back.
• 1:26:40
  So over time, the way I mean, the way that I see it, I think
• 1:26:43
  it's only logical that more and more people won't want dollars
• 1:26:45
  anymore. They'll just want Bitcoin.
• 1:26:48
  It takes, it's very difficult to wrap your head around it, but
• 1:26:51
  once you get it, there's no going back.
• 1:26:54
  There's something that a lot of people are really trapped by.
• 1:26:58
  They say, oh, you got tax benefits with real estate, but
• 1:27:01
  those tax benefits are fake. They're just your government's
• 1:27:04
  just printing more and more money to to support its markets.
• 1:27:08
  Every market that's being supported is just it's, it's,
• 1:27:11
  it's a scam. Everything is a pyramid scheme.
• 1:27:14
  The only thing that's not a pyramid scheme is the thing that
• 1:27:16
  you can actually take self custody of.
• 1:27:18
  I even think that, I mean, gold is gold is going to 0 in terms
• 1:27:24
  of Bitcoin as well, right? Everything is going to 0 in
• 1:27:26
  terms of Bitcoin because there's no more Bitcoin that's going to
• 1:27:29
  be created. If you have the opportunity to
• 1:27:32
  buy a certain amount of Bitcoin today, in let's say 10 years,
• 1:27:35
  you're going to be able to buy a 10th of it.
• 1:27:37
  Then you're going to be buy able to buy a 10th of it because the
• 1:27:39
  sellers run out. The sellers are finite, the
• 1:27:42
  buyers are infinite. Everybody can buy Bitcoin, but
• 1:27:45
  the sellers will eventually run out.
• 1:27:46
  I think this is something that most people don't get.
• 1:27:48
  Most people are just trapped by that yield, dividends, that
• 1:27:52
  mindset, that point of view. But once you wrap your head
• 1:27:55
  around Bitcoin, you realize that Bitcoin is the cash flow.
• 1:27:58
  So you're going to have businesses that are paying
• 1:28:01
  dividends in Bitcoin, they're going to be priced in Bitcoin,
• 1:28:04
  they're going to sell their goods and services in Bitcoin.
• 1:28:06
  So when you're thinking of owning these companies because
• 1:28:10
  they're giving you U.S. dollars, you're going to underperform
• 1:28:12
  Bitcoin because with those dividends, how much, what's your
• 1:28:14
  return going to be? Like you said before, 15% is a
• 1:28:17
  very difficult return to get. But with Bitcoin over time,
• 1:28:21
  you're, you're not going to see those low returns Bitcoin.
• 1:28:25
  So the way that I think another way that I try to frame it is
• 1:28:30
  with the legacy financial system, you can delay
• 1:28:32
  gratification and you can get instant gratification at the
• 1:28:34
  same time. But with Bitcoin, you have to
• 1:28:37
  choose, you have opportunity costs.
• 1:28:39
  And that's really what changes everything.
• 1:28:43
  That, that's what makes it so that the, that that's what makes
• 1:28:47
  it so that you have to give away your Bitcoin.
• 1:28:50
  It's going to make it so that wealth keeps being redistributed
• 1:28:53
  from the, the wealthy to the poor.
• 1:28:55
  So let's say if your company can just create more money, they can
• 1:28:58
  keep all the assets, they can keep everything that's a hard
• 1:29:00
  asset to themselves and they can give you these pieces of paper.
• 1:29:03
  People have to opt into it, though.
• 1:29:05
  You it's not going anywhere until people opt in, the price
• 1:29:07
  is going to keep going up. Even if no new adopters come
• 1:29:11
  into Bitcoin, the price will continue to rise because of the
• 1:29:14
  people who own it already. They're going to keep buying
• 1:29:16
  more, but everybody has to actually opt in unless, unless
• 1:29:20
  they continue, unless they want to continue getting screwed
• 1:29:22
  over, they have to actually opt into the system.
• 1:29:24
  You can't, you can't take advantage of this 20 years from
• 1:29:28
  now when it's $10 million, when it's $20 million, when it's $50
• 1:29:32
  million. You have to opt in when you're
• 1:29:34
  early and, and now is when you're early.
• 1:29:36
  Most people are ignoring it because they, they just don't
• 1:29:38
  get it and they're wrapped. They, they've wrapped themselves
• 1:29:41
  into this crazy system of exploiting everybody else of
• 1:29:48
  buying houses for profit. And, and they try to compare it
• 1:29:52
  with grocery stores or you're selling food for a profit, but
• 1:29:54
  with a, a, a rental agreement, you're never giving that house
• 1:29:58
  away. You keep that house forever
• 1:30:00
  while your tenants keep paying you rent and you keep having
• 1:30:03
  them pay your lifestyle, though, while, while they're working for
• 1:30:06
  the money that they earn, while you get to borrow this money out
• 1:30:08
  of thin air. And it, it's a, it's a broken
• 1:30:11
  system altogether. And Bitcoin is really the only
• 1:30:13
  thing that that can break it. It needs to be broken.
• 1:30:21
  Mic Drop by Rajat. Mic drop Opti Could we pull up
• 1:30:24
  his his YouTube channel and take a look at some of his most
• 1:30:27
  popular videos? I want to, I want to, I want to
• 1:30:30
  talk about that. Yeah.
• 1:30:32
  Rajat, I mean, the way that you described it, man, was great.
• 1:30:34
  Go to click the popular tab. Opti No, just right there, bro.
• 1:30:39
  Right. Look.
• 1:30:41
  Yeah. There you go all right, so most
• 1:30:43
  popular video got 74,000 views. Actually, this is wait, you
• 1:30:48
  stole our topic. No, no, no, This is one of our
• 1:30:51
  this is one of our most favorite topics that that we actually
• 1:30:54
  haven't done in a while. Opti Oh perfect.
• 1:30:58
  Maybe we'll steal his topic this time.
• 1:30:59
  I mean it's Bitcoin's open source, man.
• 1:31:02
  No one's stealing anything. So Rajat, the the question is
• 1:31:07
  right, because this is a topic that's very popular.
• 1:31:09
  We do a live show on this at least once every other month.
• 1:31:13
  And I think a lot of people want to know now you, you did a 25
• 1:31:17
  minute video on this topic. So asking you to summarize that
• 1:31:21
  in two to three minutes, you know, is going to be difficult,
• 1:31:24
  but I'm going to ask you to do it anyways.
• 1:31:26
  So how much Bitcoin do you need to retire in 10 years?
• 1:31:31
  It depends on which which city you you want to live in.
• 1:31:34
  So let's say, for example, if you want to live in New York, I
• 1:31:39
  think in 10 years, you may need something like 10 Bitcoin, maybe
• 1:31:43
  maybe less than that. I don't remember the exact
• 1:31:45
  numbers. I, I all the numbers are in that
• 1:31:47
  video. But, but the funny, one of the
• 1:31:48
  funny things about the, the video is that I actually used
• 1:31:50
  data from Shift sovereign. Not sure if you guys know that
• 1:31:53
  website, Peter Schiff's website. It basically has the cost of
• 1:31:58
  living in multiple different cities, the quality of life
• 1:32:01
  there, the temperature, pollution level, all that stuff.
• 1:32:05
  I, I actually use that data to, to compile this video in
• 1:32:09
  general. I mean, you'd be surprised.
• 1:32:11
  In certain places you can retire with less than 0.1 Bitcoin, less
• 1:32:16
  than 0.2 Bitcoin in, in, depending on what the return is.
• 1:32:20
  Let's say, for example, if the return is 40% a year over the
• 1:32:23
  next 10 years. And I think that could be
• 1:32:26
  conservative. I don't know.
• 1:32:27
  Who knows, maybe we'll be completely underwhelmed, maybe
• 1:32:30
  it'll be much much higher, but there are cities that you can
• 1:32:33
  retire with less than 0.1 Bitcoin.
• 1:32:35
  So let's talk about, you know, let's focus on, let's go down
• 1:32:39
  the list, right? So like most of our audiences in
• 1:32:43
  the States. And then after that is Canada,
• 1:32:45
  then after that is the UK, and then after that's Australia.
• 1:32:47
  And then just kind of goes down the list.
• 1:32:50
  So let's say in a average American city, because New York
• 1:32:55
  is one of my favorite cities in the world.
• 1:32:57
  I love the lifestyle there. It's really cool.
• 1:33:00
  It's changed a little bit since the pandemic and all that.
• 1:33:02
  But like, OK, so New York, you need 10 Bitcoin.
• 1:33:07
  So what are you expecting the price of Bitcoin to be in 10
• 1:33:11
  years? Lobby actually can I share my
• 1:33:13
  screen on here of. Course.
• 1:33:15
  I can share my screen because, oh, there it is.
• 1:33:17
  OK. I actually have a spreadsheet
• 1:33:19
  that's pretty nicely laid out. If you want to, you can just go
• 1:33:22
  into the description of that video.
• 1:33:23
  So in New York, the cost of living, it says on this.
• 1:33:27
  Can you zoom in a little bit? Can you zoom in a little bit?
• 1:33:29
  It's a little small. Better, yeah.
• 1:33:32
  Yeah, yeah, yeah. There you go.
• 1:33:33
  Perfect. In New York, the cost of living
• 1:33:35
  from that website, I keep in mind I didn't run my own
• 1:33:38
  numbers. I got this from that website.
• 1:33:40
  So the cost of living was for a single person, 7753 dollars,
• 1:33:46
  very expensive you can retire with.
• 1:33:49
  So let's say for example, if you wanted stocks and you had a 10%
• 1:33:51
  return, you'd need about $4.2 million if the if the stock
• 1:33:56
  market gives you about a 7% return, this is in 10 years.
• 1:34:00
  I believe this is in 10 years. Let's see.
• 1:34:03
  Yeah, this is this is 10 years. So 10 years you'd need a $3.125
• 1:34:09
  million portfolio one second here.
• 1:34:13
  So your monthly investment would have to be about 10 point $9
• 1:34:17
  million. Sorry, did I?
• 1:34:20
  Oh, yeah, OK. No, that's fine.
• 1:34:21
  So this is based on inflation and it's based on how much money
• 1:34:25
  you put in into your portfolio. So if you were to retire in 20
• 1:34:28
  years, you'd have to invest a lot less.
• 1:34:30
  If you were to retire in 10 years, you'd have to invest a
• 1:34:35
  lot more, right? So, so with 10 years, you'd be
• 1:34:37
  investing $10,932.00 per month with Bitcoin if it gives you a
• 1:34:42
  20% return. So this was stocks at a 10%
• 1:34:44
  return. If Bitcoin gives you a 20%
• 1:34:46
  return, you need 4 Bitcoin. Sorry, A10 Bitcoin was
• 1:34:48
  completely off. So you'd need 4 Bitcoin to
• 1:34:50
  retire in New York in 10 years if Bitcoin gives you a 20%
• 1:34:54
  return. If it gives you a 30% return,
• 1:34:56
  you only need like 1.3 Bitcoin, which gives you 1.78, $1,000,000
• 1:35:00
  because you can sell some of your Bitcoin at that point.
• 1:35:02
  You can borrow money against it. If the dollar survives, I mean,
• 1:35:06
  the price is going a lot higher. I think if the dollar is going
• 1:35:09
  to collapse, it's going to have to be at a much, much higher
• 1:35:12
  price. It's not going to be right away.
• 1:35:14
  So at this point, you'd probably be selling some of your Bitcoin
• 1:35:17
  or you'd be able to borrow against your Bitcoin and you'd
• 1:35:19
  have this loan that just perpetually decreases in value
• 1:35:22
  to be worth nothing. If Bitcoin gives you a 40%
• 1:35:25
  return, you'd be able to retire with about 0.5 Bitcoin.
• 1:35:30
  That's incredible. That's great.
• 1:35:32
  Let's go. So let's go.
• 1:35:33
  That's New York City, one of the most expensive cities on the
• 1:35:36
  face of planet. Now, could you go let could you
• 1:35:41
  go a little bit lower? OK.
• 1:35:42
  So like Miami, for example, Right.
• 1:35:45
  And we'll do Miami, LA So Miami, LA are very similar, right.
• 1:35:48
  So general cost of living, it's very expensive.
• 1:35:52
  Yeah, exactly. Very cool.
• 1:35:57
  So it's stocks you'd, so it's stocks you'd put in about $8200
• 1:36:01
  per month. Keep in mind that some of these
• 1:36:03
  numbers might be off a little bit.
• 1:36:05
  So I mean, I would even round up by maybe 510% because you don't
• 1:36:09
  know what inflation will be. You don't know what returns on
• 1:36:11
  Bitcoin will be. So I would round up maybe 510%
• 1:36:14
  even from these numbers. Like let's say for example here
• 1:36:16
  you might round up to $10,000 a month with Bitcoin at a 20%
• 1:36:21
  return, you'd have to reinvest about $3580 and you'd have to
• 1:36:25
  have about $1.9 million in your portfolio.
• 1:36:27
  So you'd have about 3 Bitcoin at that point.
• 1:36:31
  With a 30% return, you'd have about one Bitcoin.
• 1:36:34
  With a 40% return, you'd need about 0.36 Bitcoin.
• 1:36:38
  It's crazy when you look at the numbers like how little Bitcoin,
• 1:36:41
  if it goes where we think it is, you, you really need to survive.
• 1:36:44
  And I think it goes to what you're saying, the majority of
• 1:36:46
  people won't own more than a couple 100,000 SAT's.
• 1:36:49
  It's it's absolutely nuts when you kind of put it in the
• 1:36:52
  spreadsheet. Yeah.
• 1:36:54
  Yeah, Could you and then hold on, I'm looking for a city that
• 1:36:57
  Opti would live in, like could you go down a little bit or what
• 1:37:01
  you think of the worst city? Let me go all the way to the
• 1:37:04
  water. Yeah, the worst city.
• 1:37:07
  That's where Opti's living. I saw Mexico somewhere.
• 1:37:11
  There we go. Not.
• 1:37:12
  Gone to Nigeria? Oh very perfect Islam Islamabad.
• 1:37:17
  No no, that's not Kabul. OK Opti for opti opti you only
• 1:37:22
  need .068. There's help to retire help for
• 1:37:25
  me if. It gives you a 40% return, Yeah.
• 1:37:29
  And and the cost of living there is about $1100 a month.
• 1:37:32
  Dude, I could live there, right? Now, oh man.
• 1:37:39
  Odessa, Ukraine, Bolivia. Interesting.
• 1:37:44
  Can can someone get this? Do you have this spreadsheet
• 1:37:50
  like? Cali Colombia bro.
• 1:37:52
  Cali, Colombia. Cool.
• 1:37:53
  Cool, do you have this spreadsheet on the Internet so
• 1:37:56
  people can check it out or is this just in that video?
• 1:37:59
  No, I have, I have it on my, I have it on that video.
• 1:38:02
  So if you go into the description of that video, I'll
• 1:38:04
  I'll, I'll stop sharing my screen.
• 1:38:05
  If you go to the description of that video, you can actually see
• 1:38:07
  it there. There's a link I'm welcoming any
• 1:38:11
  suggestions any if anybody thinks that the things that are
• 1:38:14
  on there are wrong, I want to improve, so let me know if you
• 1:38:17
  think that my numbers are off. I would be very interested in
• 1:38:20
  updating them and making them more accurate.
• 1:38:25
  Amazing, amazing man. Well, dude, love your work.
• 1:38:28
  Like I said, Rajat, I'm a, I'm a, I'm a massive fan and thank
• 1:38:32
  you so much for coming on the show today, guys.
• 1:38:34
  Go check out Rajat's YouTube channel, Incredible content.
• 1:38:39
  Like I said, I'm going to pull up on screen.
• 1:38:42
  It's called Rajat. Rajat's on there.
• 1:38:47
  We go appreciate it, appreciate it.
• 1:38:50
  So you could just search Rajat and it will pop up on YouTube.
• 1:38:53
  It drops daily content. Absolute beast and yeah, go go
• 1:38:58
  check it out. Also the next one.
• 1:39:00
  Holding Bitcoin over the next 6 to 12 months will be extremely
• 1:39:04
  difficult. The parabolic phase is next.
• 1:39:08
  I can't help but to ask you about that, Rajat.
• 1:39:10
  Where are we? Why is the price going sideways?
• 1:39:13
  I feel like. Bitcoins become more the
• 1:39:14
  audience. I mean, I think, I think there's
• 1:39:16
  always going to be pull backs. If you're, if you're expecting
• 1:39:19
  an asset like Bitcoin to just go straight up, you're going to
• 1:39:21
  feel stupid, right? It, it can go either way, either
• 1:39:25
  Bitcoin's price is going to drop from here and I don't really
• 1:39:28
  care either way. If Bitcoin's price drops to
• 1:39:29
  20,000, I'd be happy. I, I'd be extremely positive on
• 1:39:34
  that because it means I can buy more Bitcoin.
• 1:39:36
  I can, I can, I can have my family accumulate more Bitcoin.
• 1:39:39
  I have no problem with that. But the other side of things is
• 1:39:42
  what if the price goes so high that you're convinced to sell?
• 1:39:45
  I, I genuinely do think that that's going to happen at some
• 1:39:47
  point. There's going to be a point.
• 1:39:49
  If you look at one of my other videos, I said Bitcoin runs out
• 1:39:52
  at every price, and that's because it does.
• 1:39:54
  There's a finite number of sellers at every single price.
• 1:39:56
  And once those sellers are exhausted, there's no going
• 1:40:00
  back, right? We're not going to go back to
• 1:40:02
  $1000 Bitcoin. People might keep telling you
• 1:40:04
  that it will happen. And actually, I don't know if we
• 1:40:06
  can, if we're going to go back to $1000 Bitcoin.
• 1:40:08
  Who knows, maybe, maybe we see $1000 Bitcoin after Satoshi
• 1:40:11
  Nakamoto sells all of their Bitcoin.
• 1:40:14
  Maybe that happens. I can't tell you if that's going
• 1:40:15
  to happen or not, but all I know is that eventually the floor
• 1:40:19
  continues to rise, continues to rise until the price is
• 1:40:23
  unaffordable. Everybody will be will be priced
• 1:40:26
  out of owning one Bitcoin unless they own Bitcoin already.
• 1:40:30
  Even billionaires won't be able to own a whole Bitcoin at some
• 1:40:33
  point. It's crazy, No.
• 1:40:35
  And you're, you're right, man. If you go through the numbers
• 1:40:37
  right, it's like there's 60 million millionaires and there's
• 1:40:41
  only 21 million Bitcoin. Like that's it like there's not
• 1:40:46
  enough there's not enough there's not enough Bitcoin to go
• 1:40:48
  around anyways, guys, we're back at 87,000, about to break 88 K.
• 1:40:53
  The volatility has been absolutely crazy.
• 1:40:55
  I do want to thank our very special shot for joining us on
• 1:40:58
  the show. I'm your host, Nico.
• 1:41:00
  Oh, before we go guys, I have to tell you bitlock boom is coming
• 1:41:03
  up. You guys definitely don't want
• 1:41:05
  to miss. It's one of the best Bitcoin
• 1:41:06
  conferences of the year. April 3rd through the 6th, it's
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  It's going to be a great time guys.
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  Definitely don't want to miss it.
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  $100 off of your tickets. Anyways, I do want to thank
• 1:41:49
  everyone for tuning in today's show.
• 1:41:51
  If you guys enjoyed the content, smash the like button.
• 1:41:53
  Consider subscribing if you feel like we provided you value and
• 1:41:58
  love you all go outside, touch some grass, get some sun, feel
• 1:42:01
  good, you know, live a good life, buy some Bitcoin and just
• 1:42:04
  you know, anyways guys, we'll see you tomorrow for a brand new
• 1:42:07
  episode of Simply Bitcoin. Today's episode was brought to
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  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:42:15
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