Latest / Simply Bitcoin / Elizabeth Warren's Attack on Bitcoin BACKFIRES | EP 855

Transcript

Elizabeth Warren's Attack on Bitcoin BACKFIRES | EP 855 · Simply Bitcoin

• 0:08
  It's all going to zero against Bitcoin.
• 0:11
  It's. Going up forever, you're.
• 0:20
  Against Bitcoin, you're against freedom.
• 0:25
  Yeah, welcome to another episode of Simply Bitcoin Live.
• 0:28
  We are your number one source for the peaceful Bitcoin
• 0:31
  revolution. We cover breaking news, culture,
• 0:33
  Matic Warfare. We will be your guide through
• 0:35
  the separation of money and state This entire week.
• 0:38
  We usually don't cover a single news topic for, you know, a
• 0:43
  considerable amount of time, right?
• 0:46
  Usually what we do is we spend maybe a day, two days Max, but
• 0:51
  it was a pretty pretty, you know.
• 0:55
  Pretty unique was pretty unique circumstances this week with the
• 1:02
  legacy media being used essentially as propaganda to to
• 1:08
  justify these crazy fin CEN proposals.
• 1:15
  And of course, we all know now we know that I think Elizabeth
• 1:18
  Warren had a lot to do with all of this.
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  What I didn't think was going to happen.
• 1:24
  Was the amount of pushback, the Bitcoin immune system reacting
• 1:29
  as viciously as it did? And it really, it made me
• 1:32
  really, really happy. Because not only was it Sam
• 1:36
  Callahan's tweet, you got 5000 likes, OK, that that is an
• 1:41
  insane amount of engagement on Twitter.
• 1:45
  So obviously, if you get that type of engagement, the topic
• 1:50
  that you're talking about resonates with people.
• 1:54
  And then that's Bitcoin Twitter. OK, but in the Banking Senate
• 2:01
  Committee yesterday, multiple people called out Elizabeth
• 2:08
  Warren's BS. They called out the Wall Street
• 2:12
  Journal's BS. So I think they're gonna have a
• 2:18
  much harder time. Imposing the that FIN CELP, that
• 2:24
  FIN CEN proposal, right and that FIN CEN proposal was it was so
• 2:29
  broad it included stuff like single use addresses, right?
• 2:34
  Which is like by default how Bitcoin wallets are set up.
• 2:37
  That's like privacy bed best practices.
• 2:40
  It would fall under that FIN CEN proposal.
• 2:42
  And of course, this was on purpose.
• 2:44
  This was to circumvent the legislative process, right?
• 2:50
  To make no mistake, this was an attack on Bitcoin.
• 2:52
  What they needed was a crisis. And that's why I read you guys
• 2:57
  that famous quote by Winston Churchill, who was the Prime
• 2:59
  Minister of the United Kingdom during World War 2, never let a
• 3:02
  good crisis go to waste. They needed that crisis.
• 3:06
  And in American history, this has happened before.
• 3:10
  Back in 2001, you know, with the terrorist attacks, the Patriot
• 3:14
  Act was was introduced into law. Which the by the way, the the
• 3:20
  FIN CEN proposal is using the the Patriot Act to implement
• 3:23
  this. It's like literally mentioned in
• 3:26
  the proposal but also the new the New York Times released an
• 3:32
  article back in the 2000s that claimed that Iraq had weapons of
• 3:36
  mass destruction. Later we found out that that
• 3:40
  article, that information was total bogus and that information
• 3:43
  actually came from the intelligence agencies
• 3:47
  themselves. So history doesn't repeat, but
• 3:50
  it often rhymes. What I saw this week was a very
• 3:53
  similar play, using a legacy media institution to propagate a
• 4:02
  false narrative and using that false narrative as a
• 4:05
  justification to take the way take away the freedoms of
• 4:08
  Americans. What was different between 2000?
• 4:14
  12000 the early 2000s and now is social media.
• 4:18
  So now people were able to talk back to refute the BS in real
• 4:23
  time. And that's exactly what
• 4:24
  happened. And I think that quick reaction,
• 4:27
  that quick response was the reason that Elizabeth Warren's
• 4:32
  narrative and the Wall Street Journal's narrative was
• 4:35
  absolutely massacred yesterday in Congress.
• 4:38
  We have a couple clips for you guys.
• 4:41
  Of Congress people even saying look this is BS right?
• 4:45
  So at least there's some good news because I'm not gonna lie,
• 4:49
  you know, I I I covered this yesterday multiple times on cafe
• 4:54
  on simply on BTC sessions on simply sessions and then I
• 4:57
  covered it on an unconfiscatable spaces at later on later in the
• 5:02
  evening four times. And I was just like, wow, this
• 5:06
  is, this is. They're not effing around with
• 5:09
  this proposal, right? But I was pleasantly surprised
• 5:13
  the reaction by the Bitcoin community then that led to, you
• 5:19
  know, the reaction from certain Congress members saying, you
• 5:22
  know, basically the report was BS, right?
• 5:25
  So there is a happy ending to this.
• 5:27
  Let's see how, you know, it all culminates.
• 5:29
  But what it looks like right now from my perspective, is that
• 5:33
  Elizabeth Warren's attack on Bitcoin backfired in epic
• 5:37
  proportions. This isn't just me saying this,
• 5:40
  Pierre. Richard said this as well.
• 5:43
  And you know I'm not gonna lie that puts a puts a smile on my
• 5:45
  face. Anyone who's against Bitcoin is
• 5:48
  against freedom. You guys know the drill.
• 5:50
  All right, I'm gonna wanna. I wanna bring up my legendary Co
• 5:52
  host always optimistic brother in arm in the trenches with me
• 5:57
  every single day. How you doing, Opti?
• 5:59
  What's up guys? We're back, as you can see.
• 6:05
  As you can see I had enough time to get my caffeine intake in.
• 6:09
  I'm back home. I got the green screen.
• 6:11
  It was a it was a fun time back home with my family.
• 6:14
  Good to see all all sides of my family.
• 6:16
  But hey, we're back here. We're hanging out.
• 6:19
  I got, I got time to make sure my my blood has a good caffeine
• 6:24
  to blood ratio. So we're good to go.
• 6:27
  We're good to go. But yeah, man, Nico, actually,
• 6:30
  I'll, I'll say no. I'll say no.
• 6:32
  I'm so glad that Elizabeth Warren backed this stuff because
• 6:35
  everything she touches just burns and goes up in ashes.
• 6:38
  And you know, I I know I tell you guys constantly that Brad
• 6:41
  Sherman is my favorite politician.
• 6:43
  But I I'm starting to lean that maybe Elizabeth Warren is my
• 6:46
  favorite politician. Because her screeching and and
• 6:49
  her absolute fear of what Bitcoin can do for humanity is
• 6:53
  just it's so glorious to see it get just, you know, slap back in
• 6:57
  her face. But but we'll go through all of
• 6:59
  the details for you guys and on today's culture.
• 7:02
  I think I just might have just figured out Opti's.
• 7:05
  It's my another one of Oxy. This is my next makeup, she.
• 7:12
  Was like, was it? Was she before yelling or before
• 7:16
  Augustine? You know, I'm just trying to
• 7:19
  climb up the cantion ladder as much as possible.
• 7:23
  I'm not starting that meme. OK?
• 7:25
  The Chrissy meme? Open Pandora's box.
• 7:28
  I'm not starting that. Anyways, what are you going to
• 7:30
  talk about during the culture? I'm just trying to get close to
• 7:32
  the money printer. Whatever I got to do, I'm trying
• 7:34
  to be a good cantion. Fiat Insider.
• 7:36
  Guys, this is the game. Don't you understand the game?
• 7:39
  I'm just trying to play it. All right guys, sorry for
• 7:41
  blowing your eardrums. I I guess I'm jacked up this
• 7:44
  morning again. Anyways Anyways culture we got
• 7:47
  to we got to good guess James AKA Bitcoin farmers market.
• 7:50
  Let's bring him in. He's doing circular economy a
• 7:54
  farmer's market in Bitcoin Beach in El Salvador.
• 7:57
  Love to see it but we'll we'll get all into that during the
• 8:00
  culture. James, how you doing this
• 8:01
  morning? Good morning, lad.
• 8:04
  Yeah, I'm doing good, thanks. How are you doing?
• 8:06
  Wonderful, bro. Doing wonderful.
• 8:08
  Thanks for joining us, man. We really, really appreciate you
• 8:10
  coming on the show. Huge fan of the Bitcoin beach
• 8:13
  project and really excited to talk about what you're talking
• 8:16
  about, I mean what you're working on these days.
• 8:18
  That's what the culture is all about.
• 8:20
  To highlight Bitcoiners from all walks of life from everywhere
• 8:23
  around the world and really highlight their contributions to
• 8:27
  Bitcoin, their insights to Bitcoin.
• 8:29
  Their perspectives on Bitcoin cuz every single human being.
• 8:32
  Even though we might come to the same conclusion, we all approach
• 8:38
  Bitcoin from different perspectives based on our life
• 8:41
  experiences, right? Anyway, it's gonna be a great
• 8:43
  show. I'm absolutely pumped.
• 8:48
  I found out a couple things about what Simply is doing next
• 8:50
  year and I'm going to hold it in, I'm going to hold it in.
• 8:53
  But we got a lot of big plans for simply Bitcoin next year and
• 8:57
  I hope to see a lot of you guys in person while we do some of
• 9:00
  these trips. It's going to be a lot of fun.
• 9:03
  The having party is also going to be looks like we're going to
• 9:05
  be doing a lot of traveling next year.
• 9:07
  Opti, which has me extremely excited anyways.
• 9:11
  Anyways, everybody let's jump straight into the show.
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  Like I said, we have a lot to talk about.
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  Oh God, I I think I. I regret it.
• 10:42
  I think the Chrissy meme was enough.
• 10:44
  But like that meme, dude, you throw me under the bus for
• 10:47
  everyone, bro. Oh man, oh man.
• 10:49
  Taking it for the team Opti. OK, at the time of recording I I
• 10:54
  can't the big one bugle. I'm just picturing God damn it
• 10:59
  what did I do? OK.
• 11:01
  At the time of recording, the Bitcoin price is 33,985 SAT's
• 11:07
  per dollar. 2942 Block height 814,083 blocks to having 25,917
• 11:17
  having estimate April 21st 2024 Total Lightning Network capacity
• 11:22
  5240 Bitcoin Capacity value 178,000,000 U.S. dollars
• 11:28
  Realized Monetary inflation One point. .74% The market
• 11:33
  capitalization of Bitcoin $663 billion Bitcoin versus gold
• 11:39
  market cap 4.97% the grand scheme of things.
• 11:44
  Bitcoin still a baby when Bitcoin reaches the market cap
• 11:48
  of gold and I say when and not if that will put one Bitcoin at
• 11:53
  five $500,000 per coin. In the grand scheme of things,
• 11:57
  Bitcoin is still a baby anyways. This is what I wanted to talk
• 12:01
  about today. This is the issue at hand,
• 12:03
  really. And you know, the Chad Sailor
• 12:08
  calls this the Cyber Hornets, the last line of defense for
• 12:11
  Bitcoin. And I felt like it was very
• 12:14
  appropriate, especially at first, is the Wall Street
• 12:20
  Journal. I was like, OK, maybe they got
• 12:22
  it wrong, but the fact that they didn't retract the article and
• 12:26
  the fact that the article was cited.
• 12:30
  In the letter to the White House.
• 12:32
  And some of the language in the article was actually used in the
• 12:36
  FIN CEN proposal. And the fact that we know
• 12:40
  Elizabeth Warren's bipartisan bill with Senator Marshall has
• 12:45
  very similar kind of, you know, maybe they're taking a different
• 12:49
  path, but the outcomes would be the same.
• 12:53
  Has my suspicions that I think Elizabeth Warren played a big
• 12:58
  role in this? It's not the first time that the
• 13:01
  legacy media has given her a platform her media allies When
• 13:07
  Russia invaded Ukraine, we had a very similar article coming out
• 13:13
  from the New York Times essentially saying that
• 13:17
  Elizabeth Warren thinks that Russia's going to use crypto to
• 13:20
  circumvent U.S. sanctions. Right.
• 13:24
  But I guess that crisis wasn't enough.
• 13:26
  I guess they needed a bigger crisis, right?
• 13:29
  They needed a more, a bigger emotional response.
• 13:31
  But the fact that they're going to these lengths tells me that
• 13:36
  they're worried. They're scared.
• 13:39
  Also, Chrissy Lagarde's you know, meme video basically
• 13:44
  saying the digital hero is coming and it's here to stay,
• 13:47
  right? That tells me that I think that
• 13:50
  they understand they're under, they're they're, they're on the
• 13:53
  clock. And they're trying to roll this
• 13:55
  out as much as possible. And that tells me that we're
• 13:58
  winning. That tells me that we're over
• 14:00
  the target. Well, let's talk about the
• 14:03
  backfire cuz that's what we're gonna talk about today.
• 14:06
  So here's Pierre Richard. And he says Elizabeth Warren
• 14:09
  spread disinformation to exploit a crisis.
• 14:12
  It's backfiring and now undermines her misguided anti
• 14:15
  Bitcoin agenda. Here's another one.
• 14:21
  Neeraj he's part he's part of Coin Center which is a crypto
• 14:26
  lobbying arm right the Bitcoin Policy Institute shout out David
• 14:29
  Zell is the is the Bitcoin lobbying arm.
• 14:33
  But sometimes you know the incentives do align not on
• 14:35
  everything but coin Center was has been there for a while, and
• 14:39
  at least it presented some type of voice in in Washington, DC.
• 14:44
  He said. Watching the Senate Banking,
• 14:47
  banking hearing on Hamas financing, I must say it was
• 14:50
  refreshing to see the panel of expert witnesses repeatedly Fact
• 14:54
  Check Senator Warren's assertions that crypto should be
• 14:57
  the focus in combating Hamas funding.
• 15:02
  Now let's check out some of these clips because it was an
• 15:05
  absolute massacre. So let's check out this first
• 15:09
  one. It is by Senator Haggerty.
• 15:13
  Let's check it out. And another thing, guys, pay
• 15:15
  attention, right? You, Raj said.
• 15:19
  Senator Warren's assertions, right.
• 15:22
  And again, once you connect the dots, you know, did Senator
• 15:28
  Warren have something to do with that Wall Street Journal
• 15:31
  article? No way to know for sure.
• 15:35
  But again, lots of coincidences are happening these days.
• 15:39
  So anyways, let's see what Senator Haggerty has to say.
• 15:43
  The Wall Street Journal recently reported that Hamas and
• 15:45
  Palestine Islamic Jihad since 2021 have received roughly $130
• 15:51
  million in crypto financing via offshore exchanges and platforms
• 15:55
  like finance. It's important to note that
• 15:58
  these figures are disputed and per independent analysis that
• 16:02
  was released just this week, could be overestimated by as
• 16:04
  much as 99%. The data analytics firm cited in
• 16:08
  this Wall Street Journal report has even disputed the estimates
• 16:11
  that were reported. Stating that there is no
• 16:14
  evidence to suggest that Hamas fundraised anything close to
• 16:18
  this $130 million reported, make no mistake, any such funding is
• 16:23
  unconscionable and should be addressed in a thoughtful,
• 16:25
  targeted way in order to choke off these terrorists.
• 16:28
  But we should do this without pushing the crypto industry
• 16:31
  overseas. In this case, we need a scalpel,
• 16:35
  not a sledgehammer, the Wall Street Journal recently
• 16:38
  reported. In this case, we need a scalpel
• 16:42
  on a sledgehammer. And make no mistake, the Fin CEN
• 16:44
  proposal is a sledgehammer. Now, that discrepancy #99%.
• 16:52
  How did this senator get that number?
• 16:54
  That is the same number that Sam Callahan reached with his viral
• 16:58
  tweet. That is the same number.
• 17:01
  Roughly the same number that Preston Pish reached in his
• 17:05
  article that he released for Bitcoin Magazine.
• 17:10
  So clearly, make no mistakes. The efforts of all of you guys
• 17:16
  on social media to bring attention to this at the speed
• 17:22
  that it that it happened in, right?
• 17:24
  Because remember, before social media we would not.
• 17:27
  We would have to go through those gatekeepers of information
• 17:30
  and hope to God that they would find the story interesting and
• 17:34
  then publish it. But.
• 17:37
  The community, the Bitcoin immune system, reacted very,
• 17:41
  very, very quickly. So it wasn't only Senators.
• 17:46
  Haggerty here is another expert and let's see what she has to
• 17:50
  say. So Senator, that was Segar
• 17:53
  Haggerty. That was an actual politician.
• 17:55
  Here is an expert who is offering testimony.
• 18:00
  Let's don't lose sight and focus from the big picture crypto.
• 18:04
  Is currently a very small part of the puzzle.
• 18:08
  The major funding channels are where and remain state funding,
• 18:12
  Iran and others that those are the major players.
• 18:16
  Most of the funds are still being transferred by the
• 18:19
  traditional channels that we all know from the past Banks, money
• 18:24
  transmitter payment system, hawala, money exchange, trade
• 18:27
  based tourism financing, charity, cash shell companies
• 18:31
  and crypto. The effort should be global and
• 18:35
  focus on imposing global sanctions on Hamas and their
• 18:38
  sponsors, as was the case with ISIS.
• 18:41
  Let's don't lose sight and focus from the big.
• 18:45
  OK, lots of breakdown there, right?
• 18:50
  The vast majority of the funding, and it's not coming
• 18:54
  from crazy bitcoiners online, came from what the traditional
• 19:00
  financial system. It did not come from, they say,
• 19:05
  crypto Bitcoin. You guys know the deal.
• 19:09
  So yeah, like what? What else do you got to know at
• 19:15
  that point? Like, clearly, clearly, the fact
• 19:19
  that the Wall Street Journal has not retracted the article or
• 19:23
  offered a correction, even though the analytics that they
• 19:27
  used, the own analytics company said, wait a second, you
• 19:31
  misrepresented the information. The fact that they haven't
• 19:36
  retracted it tells you everything you need to know.
• 19:40
  That article was pivotal in their strategy.
• 19:45
  To try to shove down the throats, this fin CEN proposal,
• 19:49
  which would circumvent the normal legislative process,
• 19:54
  which they know they can't pass because they don't have enough
• 19:58
  support, the the Republicans barely have a majority in the
• 20:03
  House and the Senate, same thing.
• 20:05
  The Democrats barely have a majority, right.
• 20:09
  So it's just crazy that, like, you know, we've reached this
• 20:13
  point. Where they find it so
• 20:16
  threatening, they're willing to go to these types of lengths to
• 20:20
  try to get their way. This is the separation of money
• 20:24
  and state. Buckle up and get ready for the
• 20:27
  ride. Take self custody.
• 20:29
  If enough people do it, we'll win and there's there's nothing
• 20:31
  they could do about it anyways. So I want to get our guest
• 20:35
  thoughts. James.
• 20:37
  I'm sure if you've been on Bitcoin, Twitter, or maybe
• 20:40
  you've been on the beach, maybe maybe this is the first time
• 20:43
  you're hearing about all this. Bit of both, bit of both.
• 20:46
  OK, so you've been on, if you've been on Bitcoin Twitter this
• 20:48
  past week, you definitely have definitely read up on what's
• 20:52
  been going on with all this. So my question to you is, does
• 20:56
  it surprise you at all? I wish I could say that it that
• 21:00
  it did, but no, I mean, they're painting a narrative here.
• 21:06
  They're threatened as, as you've said, they're never going to let
• 21:09
  a a good crisis go to waste. And if they can?
• 21:14
  Add to the regulatory burden. If they can introduce anything
• 21:18
  that's going to make something they consider a threat less
• 21:22
  viable, that's what they're going to do.
• 21:26
  Bless them, bring it on. But that that just seems to me
• 21:30
  to be what the the parasitic class do.
• 21:36
  They see something that is a threat to them and they will use
• 21:41
  underhanded means to kind of paint a narrative.
• 21:44
  Of why it's bad and and use that as a justification to to
• 21:49
  suppress it. 100 A hundred. Percent beautiful.
• 21:57
  Oh man. Opti, what's your take on this
• 21:59
  bro? Yeah, so let's go back to the
• 22:02
  beginning. First and foremost again, this
• 22:04
  is the opinions of Opti, not necessarily a representation of
• 22:07
  simply big coin. Liz Warren is a mouthpiece for
• 22:09
  big bank like convince me otherwise.
• 22:11
  But really, politicians, for the most part, I'll be generous
• 22:15
  here. For the most part are completely
• 22:17
  bought and paid for and I really wish we could have like a.
• 22:21
  You know, patches like race car drivers, so we can be
• 22:23
  transparent and see who you know, who's paid for and who's
• 22:26
  bought by who. That would make this so much
• 22:29
  easier. And I mean, we've been covering
• 22:32
  it for the last two weeks like misinformation is the norm,
• 22:34
  Guys. Like, here's why it's so
• 22:36
  important for all of us to make content and to have these
• 22:39
  conversations on the daily with our friends and family and and
• 22:42
  try to do our best to explain the real nature of the beast
• 22:46
  going on around here. And I saw a tweet yesterday and
• 22:50
  it really, it really hit home and then maybe the numbers are
• 22:52
  off a little bit, but it was something on the lines of
• 22:54
  mainstream media's job is to manufacture consent and make it
• 23:00
  seem like 90% of the population have the viewpoint of 10% of the
• 23:03
  population and it's probably less than 10%.
• 23:06
  But like, once you understand that this is the game here, you
• 23:10
  really start to look at the government propaganda or
• 23:13
  corporate propaganda a lot differently.
• 23:15
  And you realize just how much power independent content
• 23:18
  creators really have in today's world.
• 23:20
  And and I think a lot of us forget that independent content
• 23:23
  creators are, are the real signal.
• 23:25
  Like that's where the real conversation is happening.
• 23:27
  But people still for some reason believe the people on the suits
• 23:30
  on the television. But this just goes to show that
• 23:34
  Bitcoin is crossing that Rubycon into mainstream adoption,
• 23:37
  mainstream consciousness, and it's almost getting too big for
• 23:40
  for anyone. Well, it's.
• 23:42
  Already too big for anyone to control and stop it.
• 23:45
  But I mean, what's that guy's name?
• 23:47
  Haggardy or whatever? Like, shout out to that guy, you
• 23:50
  know, I don't know who he is. I've never heard of him before.
• 23:52
  But hey, he he's going to be on the right side of history.
• 23:55
  And it's just funny to me to to watch and hear the politicians
• 23:59
  try to grapple with Bitcoin. They're so used to their little,
• 24:04
  you know, walled gardens that that when this new technology,
• 24:08
  this change. It gets thrusted upon them like
• 24:10
  Bitcoin. They're just scrambling and try
• 24:13
  to figure out ways how they can distort the truth and distort
• 24:16
  this for their own benefit. And we're just here like yo.
• 24:19
  Bitcoin can't be stopped. You can't stop the truth.
• 24:21
  The truth wants to be set free. And you know, as a meme goes,
• 24:25
  Bitcoin is for anyone. Anyone can use Bitcoin.
• 24:28
  It is what it is. But the fact that they are
• 24:30
  manufacturing these lies just goes to show how afraid they
• 24:33
  really are of Bitcoin. And shouts out to Miss Wagman I
• 24:36
  believe was her name. She's stating the obvious that
• 24:39
  we always state here on simply Bitcoin.
• 24:41
  But she's you know at the halls of Congress or Senate or
• 24:43
  whatever that was saying what we always say on the show, you
• 24:47
  know, dollars are what criminals use the most guys it it's like
• 24:51
  this is the receipts. This is the standard quo and the
• 24:55
  more what do you always say, Nico?
• 24:57
  They project onto US. What what they themselves are
• 25:01
  doing and the more they project and the more they fear monger on
• 25:05
  Bitcoin and the more they go to try to ban Bitcoin, the more I
• 25:08
  just know we're doing exactly what we need to be doing by
• 25:11
  opting out of this and opting into Bitcoin and using a money a
• 25:14
  monetary network that is outside of their control.
• 25:16
  You know as the hike quote goes a sly roundabout way that they
• 25:20
  cannot control. This is the way guys we say it
• 25:23
  every single every single day. It's Bitcoin or slavery.
• 25:25
  It's a total CBDC central bank digital control mechanism or.
• 25:30
  It's freedom, money, Bitcoin on the other side.
• 25:32
  And we all have that choice today.
• 25:34
  And I think this is the most important choice to be doing to
• 25:37
  be making rather. And I think for our generation,
• 25:41
  I'm guessing that James is roughly A millennial.
• 25:44
  You look roughly around the same age as us.
• 25:46
  I think fighting for freedom on the monetary level is the most
• 25:50
  important thing to be doing for all of us.
• 25:52
  We've been saying this for a long time.
• 25:54
  You know, Bitcoin is purpose engineer, a better world.
• 25:57
  This is the most important fight to be doing.
• 25:59
  And yes, I know that for the most part bit corners are still
• 26:03
  kind of how would I say this, put in the corner.
• 26:08
  You know like just like toys that no one wants to play with.
• 26:11
  We're we're just like, Oh yeah, OK, whatever.
• 26:13
  You're on the dark web. You're you're one of those weird
• 26:15
  Internet nerds. Like no one cares what you're
• 26:18
  doing. It's becoming very clear that
• 26:20
  this is the fight, and more and more people are waking up to the
• 26:23
  fact that it's always about the money guys.
• 26:26
  It's always about the money. And now they can't control it.
• 26:29
  And so they will use whatever mechanism they can to control
• 26:33
  the narrative. They will try to manufacture
• 26:35
  consensus against Bitcoin, They will flood it.
• 26:38
  They will probably stack in private.
• 26:40
  And as number goes up they may endorse it but in the meantime
• 26:44
  this is the then they fight you stage and we are just in the
• 26:47
  early innings of that that saga. So prepare yourself, make sure
• 26:51
  your Bitcoin is off exchanges. Make sure you know like James
• 26:55
  will be talking about today. Make sure you're a part of the
• 26:57
  peer-to-peer economy however way you can.
• 27:00
  Like make sure you are protected because we know they will try
• 27:03
  their best to stop the on and off ramps to Bitcoin.
• 27:06
  So. Just make sure you're prepared
• 27:08
  for that. It is coming.
• 27:09
  It's a matter of time. Not, it's not if, it's just when
• 27:13
  and hopefully, you know, I I, I am hopeful here, slightly,
• 27:18
  slightly hopeful that the US will get their head out of their
• 27:21
  ass and they will stop trying to fight Bitcoin.
• 27:24
  This is freedom money. I thought we were a freedom
• 27:26
  nation and this is a global phenomenon.
• 27:29
  So look, I say it all the time You can't ban Bitcoin.
• 27:32
  You can only ban yourself from Bitcoin.
• 27:34
  And even though the US is the reigning empire of the world, it
• 27:39
  would benefit its citizens to embrace Bitcoin.
• 27:42
  And all I'm seeing is politicians and bureaucrats
• 27:45
  shoot themselves in the foot and hurt average everyday citizens.
• 27:48
  And it absolutely pisses me off 100%.
• 27:53
  I think you, I think you hit the nail on the head, man.
• 27:55
  It's not a government by the people, for the people.
• 27:58
  It's clearly Fiat has frankensteined it to a
• 28:01
  government by the government for the government.
• 28:05
  Thankfully this is one of the things that Bitcoin fixes.
• 28:08
  Anyways, I saw BJ Ditcher in the chat, had the pleasure to have
• 28:12
  dinner with him in Miami. So shout out BJ.
• 28:14
  Absolute absolute freedom fighter.
• 28:17
  So thanks for thanks for joining us today my friend.
• 28:20
  Anyways, I I do want to give a shout out to one of our
• 28:23
  sponsors. It's going to be the largest
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  Bitcoin conference on planet earth.
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  know legendary bitcoiners and speakers just kind of hanging
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  out there and and and you know, chilling Bitcoin 2023.
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  I, you know, I got to take a picture with Tulsi Gabbard,
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  shake her hands, you know, in in the in the deep Backstage VIP
• 29:14
  lounge. So that was really cool.
• 29:16
  Opti and I will be there at Bitcoin 2024.
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  It's going to be the biggest Bitcoin celebration of the year.
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  You can use promo code simply to get 10% off your tickets.
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  You don't want to miss it. But anyways guys, no more delay.
• 29:27
  Let's jump straight into the news.
• 29:34
  The Daily News I want to give a shout out to our sponsor,
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  the show notes below to learn more.
• 30:33
  All right everybody. So the next two news topics are
• 30:39
  going to be seemingly unrelated, but they are related and there
• 30:44
  is really two attack vectors governments have against
• 30:48
  Bitcoin. Attack vector #1 is attacking
• 30:52
  Bitcoin's energy use. So they go after Bitcoin miners,
• 30:54
  right? We know what happened when the
• 30:56
  CCP banned Bitcoin mining within their borders, all the hash rate
• 31:01
  dropped by 50%. I believe that it was on
• 31:03
  purpose. I believe that's why we didn't
• 31:05
  hit 100K last cycle. But because of Bitcoin's
• 31:08
  incentives, those those miners migrated to more favourable
• 31:13
  jurisdictions. I think it was one of the
• 31:15
  biggest stress tests in Bitcoin's history and it also
• 31:19
  proved Bitcoin's irresistible incentive structure.
• 31:23
  That makes it very, very difficult to kill, right?
• 31:27
  Bitcoin literally pays you to keep it alive, right?
• 31:31
  Does Fiat pay you? No.
• 31:32
  I would say Fiat extorts you, if anything.
• 31:37
  And then the second attack vector, which is what we're
• 31:39
  going to focus on today and is the the the right to self
• 31:46
  custody. The self custody aspect.
• 31:49
  This is why it's so important. So take your keys into self
• 31:52
  custody. You made it easy for you guys.
• 31:53
  You can scan the QR code on your screen, go directly to the
• 31:56
  foundation website, you can get yourself a passport hardware
• 31:59
  wallet, not your keys, not your Bitcoin.
• 32:03
  So I'll break it down like this. In the 30s in the United States,
• 32:10
  when they passed the six, one FDR passed the six.
• 32:13
  The 6102 order with an executive order.
• 32:16
  It was Congress after the fact that really made it a pass it
• 32:19
  into law. It was an executive order that
• 32:22
  made holding gold illegal for American citizens.
• 32:28
  The reason that they were, the the reason they were able to do
• 32:33
  that so successfully was because of gold's physical
• 32:38
  characteristics. Because of gold's physical
• 32:42
  characteristics there was centralization.
• 32:46
  Anyone that held a considerable amount of gold held it in vaults
• 32:52
  in bank vaults, right? So all the government had to do
• 32:55
  is they passed this law from one day to the other, and then all
• 32:59
  the gold that were in vaults that belonged to people all of a
• 33:04
  sudden belonged to the government.
• 33:09
  That sounds like theft to me. But hey, you know what?
• 33:13
  I guess it was legal and there was a thing, but that sounds
• 33:16
  like theft, right? And then what were American
• 33:19
  citizens hell gave given back in return.
• 33:22
  They were given back dollars, paper, paper money, right.
• 33:27
  So those are the two attack vectors.
• 33:29
  I think they're not gonna be as successful with the first one,
• 33:32
  with the mining one, the energy use one, because the fact is
• 33:36
  that mining, Bitcoin mining makes otherwise useless energy,
• 33:40
  stranded energy. You're able to monetize it
• 33:43
  because of mining. I would say that mining makes
• 33:46
  renewable energies viable without government subsidy.
• 33:50
  And I would say that the incentives of mining are so
• 33:54
  strong that people are just going to keep relocating to more
• 33:58
  favorable jurisdictions. Look at what Max and Stacy are
• 34:01
  doing recently in El Salvador. They're in in Bitcoin country.
• 34:06
  They're setting up the Volcano Energy Initiative, where they're
• 34:09
  going to use El Salvador's renewable energy sources first.
• 34:14
  They're going to start with solar and wind, and then I'm
• 34:16
  sure they're going to migrate to geothermal and they're going to
• 34:19
  use some of that to mine Bitcoin.
• 34:21
  Last time I read it was a billion dollar initiative.
• 34:24
  So I'm not really worried about #1, even though that's the one
• 34:27
  that gets the most noise. But #2 is a little bit more
• 34:30
  sinister, which is they're going to make it difficult for people
• 34:34
  to withdraw. They're going to make it
• 34:36
  difficult for people to take self custody.
• 34:38
  They're going to demonize self custody.
• 34:41
  And you've heard this in the laws proposed by Elizabeth
• 34:45
  Warren, Senator Marshall under the guise of money laundering.
• 34:50
  And they literally mentioned unhosted wallet.
• 34:52
  There's a gap in unhosted wallet.
• 34:54
  So basically what they're saying is self custody is a problem.
• 34:57
  And then they really pulled the curtain when the the FIN CEN
• 35:02
  laws were, you know, were were proposed in the fin CEN laws, it
• 35:08
  literally says that every that you cannot use or they will
• 35:14
  make, they'll force you to report single use addresses.
• 35:19
  That's nothing to do with coin mixing.
• 35:22
  Single use that is by default how your Bitcoin wallet works,
• 35:28
  right? Literally every time you use a
• 35:31
  Bitcoin address and there's a balance there, your your wallet
• 35:34
  will automatically change to a new address.
• 35:39
  So it's so broad and it's brought on purpose to give them,
• 35:44
  like the senator said, not my words, an effing sledgehammer,
• 35:49
  right? So that being said, here's
• 35:55
  another move towards I think what is going to be the
• 35:59
  inevitable right, which is government's last step and last
• 36:04
  hope is to shut off the escape valves completely, right?
• 36:08
  And this is one more step in the United Kingdom to do just that.
• 36:12
  So here's an article by no BS. Bitcoin UK's law enforcement can
• 36:17
  now seize Bitcoin linked to criminal activity without
• 36:20
  conviction. The Economic Crime and Corporate
• 36:23
  Transparency Bill became law on Thursday after receiving the
• 36:26
  King's approval. Users with robust self custody
• 36:29
  set up remain unaffected. I can't emphasize this last part
• 36:34
  enough guys. The two Bitcoin companies that
• 36:38
  wants the some of our sponsors, right?
• 36:42
  We are very picky with the sponsors that we choose, right?
• 36:45
  We want to provide value for you guys as well, right?
• 36:49
  We literally have a way for you to take self custody.
• 36:53
  Robustly back up your seed, word on titanium, take self custody
• 36:58
  of your Bitcoin, get yourself a hardware wallet.
• 37:01
  Obviously we recommend the Passport by foundation.
• 37:05
  They can do all of this. They can do this with the
• 37:08
  BlackRock Spot ETF. They could do this with custody
• 37:10
  Bitcoin on an exchange. But remember the keyword in this
• 37:15
  is users with robust self custody set up remain
• 37:17
  unaffected. So anyways, goes on to say,
• 37:21
  quote provisions in the bill give broader powers to local
• 37:24
  cops and we'll let them seize crypto they believe was used in
• 37:28
  launder, launder, money traffic, drugs, commit cybercrime and
• 37:32
  terrorism without conviction. Do you guys see the pattern?
• 37:37
  That's an entirely different country, but they just pressed
• 37:43
  broad powers to give local cops and the government the ability
• 37:49
  to seize crypto under the guise of laundering, laundering, money
• 37:55
  trafficking, drugs, committing cybercrime and terrorism without
• 37:59
  conviction. Not legal.
• 38:01
  Not innocent until proven guilty.
• 38:03
  Guilty until proven innocent. Sometimes experts would come in
• 38:08
  handy, particularly in time sensitive cases.
• 38:11
  Prior to this law, digital assets linked to illegal
• 38:14
  activities were a were a subject to freezing, but couldn't be
• 38:19
  confiscated in criminal cases unless an individual has been
• 38:22
  arrested and convicted. So it like freezing.
• 38:27
  It's like, OK, this guy's a suspected criminal.
• 38:29
  We're gonna freeze his assets on the exchange now it's like,
• 38:33
  we're just gonna take it and then let's see if he proves
• 38:38
  himself innocent, right? Goes on to say, quote, separate
• 38:42
  provisions to help authorities seize other assets that can help
• 38:45
  identify crypto linked to crime were also added.
• 38:48
  It was passed by parliament on Wednesday.
• 38:50
  And again, I'm not going to read you guys the passage from the
• 38:54
  sovereign individual cause. I've been reading it every
• 38:56
  single day this week. But again, once again, they hit
• 39:00
  on the head. Governments, even in
• 39:02
  traditionally civil countries, will turn nasty because they
• 39:06
  were losing their monopoly on money, right?
• 39:09
  And that's exactly what's playing out here in my opinion.
• 39:12
  But once again, how do you protect yourself against that?
• 39:15
  Take self custody. You have no excuse.
• 39:17
  We literally recommend you guys ways to do that every single
• 39:22
  day. And in terms of software wallet,
• 39:25
  you have Blue wallet, you have Electrum, you have Sparrow, you
• 39:28
  have Spectre, you have so many wallet of Satoshi, You have so
• 39:33
  many wallets that you can use. There's so many hardware wallets
• 39:39
  that you can use. Speaking of hardware wallets,
• 39:42
  here's Ledger. Now Ledger introduced a very
• 39:46
  interesting feature which I think the road, the road to hell
• 39:54
  is paved in good intentions, right?
• 39:56
  Very interesting feature. But essentially it's kind of
• 40:00
  like a back door to your seed phrase.
• 40:04
  But of course there's trade-offs to that back door.
• 40:07
  Because if there's a back door, let's say you lose your seed
• 40:10
  phrase and you're like, I lost my seed phrase and then you go
• 40:12
  to Ledger and you say I lost my freeze seed phrase and they can
• 40:16
  recover it for you. If they can recover it for you,
• 40:21
  who else do you think can recover it for you?
• 40:24
  Connect the dots with this law in the UK, right And this Ledger
• 40:30
  proposal. So it goes on to say Ledger now
• 40:33
  lets you pay $9.99 per month to ID your cold wallet seed and
• 40:38
  send it to trusted third parties.
• 40:40
  It goes on to say quote Today is the day I'm glad to announce
• 40:44
  that our secure wallet recovery solution, Ledger Recover
• 40:47
  provided by Coincover is now available for Ledger Nano X
• 40:51
  users. You can subscribe to this paid
• 40:54
  and optional service here. The service, which notably
• 40:58
  failed to launch earlier this year due to community backlash,
• 41:02
  will cost its users 9 basically $10 per month after the first
• 41:07
  free month quote. When you subscribe to Ledger
• 41:10
  Recover, a pre bit 39 version of your private keys is encrypted,
• 41:14
  duplicated and divide into three fragments, with each fragment
• 41:18
  secured by a separate company, Coin Cover Ledger and Escrow
• 41:22
  tech. When you want to give access to
• 41:24
  your wallet, two of the three parties will send fragments back
• 41:28
  to your Ledger device, reassembling them to build your
• 41:32
  private key. Your private key Ledger Recover
• 41:35
  compromises extensive identity verification process performed
• 41:40
  by Coin Cover with a secure element billed by Ledger.
• 41:45
  It goes on to say your identity details are collected by Ledger
• 41:48
  Recover ID verification service providers.
• 41:51
  Coin Cover and Ledger Store are an encrypted excerpt of this
• 41:54
  data. Coin Cover will never pass your
• 41:56
  information to third parties unless it has a legal obligation
• 42:00
  to do so. I'm gonna go back to this.
• 42:06
  They now can seize your Bitcoin without proving that you,
• 42:13
  without proving in court that you're a convicted criminal.
• 42:16
  Put the pieces together and then just use common sense and think
• 42:22
  about how this can, and I'm calling it right now, will be
• 42:26
  exploited by governments to seize people's money.
• 42:30
  And yes, I'm sure like I had. Look, I don't think Ledger is
• 42:35
  approaching this in a nefarious manner whatsoever.
• 42:41
  But you know, it's still call it for what it is.
• 42:45
  It's still an open door in my opinion.
• 42:48
  It's still a back door in my opinion, Ledger Recover is
• 42:50
  currently compatible with Ledger Ledger Nano X.
• 42:53
  Soon it will be compatible with Ledger stacks.
• 42:56
  Ledger Nano S Plus Ledger Recover isn't compatible with
• 43:00
  Ledger Nano S Ledger Recover availability depends on the
• 43:05
  country in which your Passport National Identity card or driver
• 43:07
  license was issued at the mass At the At the moment, a Passport
• 43:11
  National Identity Card issued by the European Union, the United
• 43:14
  Kingdom, Canada and the United States, or driver's license
• 43:17
  issued in the United States is required is required to
• 43:20
  subscribe to the service. As an added layer of protection
• 43:24
  subject to investigation, $50,000 compensation may be
• 43:27
  available from Coin Cover. In the unlikely event that
• 43:30
  something were to go wrong, the recovery process can be
• 43:35
  replicated on any new and compatible Ledger device
• 43:38
  following the identity verification process.
• 43:40
  Read a more detailed explanation on how recovery works here.
• 43:43
  Quote Depending on your personal needs, Ledger recover may or may
• 43:47
  not be for you. For most users, having no backup
• 43:50
  for their secret recovery phrase is a risk that they don't want
• 43:53
  to take, and again, this is your outsourcing personal
• 43:57
  responsibility. But what they they fail to
• 43:59
  mention is that there are cons to that.
• 44:03
  And history has shown that when governments get put in a a rock
• 44:09
  and a hard place like the 1930s is a great example, the country,
• 44:15
  the government, the state was in a hard place and what did they
• 44:19
  do? It justified the theft of
• 44:24
  people's gold. So the whole point is that that
• 44:30
  option isn't even there. And when that option isn't even
• 44:33
  there, that's why I said my quote.
• 44:35
  That's why I said what I said. If enough people take self
• 44:38
  custody, if if enough of the pepper of the population, right.
• 44:44
  Especially in a country like the US with the Second Amendment
• 44:48
  take self custody of their wealth.
• 44:50
  The only option the government has is to go door to door and be
• 44:54
  like hand over your money essentially and and and again
• 45:00
  that that's not really like in my opinion like that's not
• 45:04
  really a viable solution for for for you know millions upon
• 45:09
  millions of people doing this. This is why it's so vital.
• 45:13
  And here's Seth for privacy by the way shout out foundation
• 45:15
  they're one of our sponsors. He's he's with he's with
• 45:19
  foundation devices. He says please do not use this
• 45:23
  service. If you use this service, you're
• 45:25
  signing up for simple seizure of funds.
• 45:28
  If Ledger, willingly or unwillingly due to government
• 45:32
  pressure, decides to collaborate with one of the other storage
• 45:35
  providers, friends don't let friends use Ledger recover.
• 45:40
  First image shows that Ledger owns the common encryption key
• 45:43
  that is used to encrypt shards. Second image shows that Ledger
• 45:46
  themselves saying how they can give over funds in the event of
• 45:50
  a subpoena. Now here's the thing.
• 45:52
  In the UK, they could just seize it without even proving that
• 45:58
  you've committed a crime based on this last law.
• 46:01
  And I bet you Elizabeth Warren is salivating at the mouth when
• 46:04
  she saw what the UK did, that what she's like.
• 46:06
  I wish we could do this in the US.
• 46:09
  So also shout out to foundation, Shout out because you know,
• 46:12
  they're they're really, they're really speaking the truth there.
• 46:16
  So when you get yourself a passport, hardware wallet, now
• 46:19
  you know who the people are behind that.
• 46:21
  They don't like that shit, right?
• 46:23
  They're actual fucking bitcoiners, right?
• 46:26
  It's Bitcoin or slavery. So yes, the road to hell is
• 46:32
  paved to go with good intentions.
• 46:34
  I think Ledger, I I don't believe they were malicious.
• 46:36
  I don't believe they were pressured to do this.
• 46:38
  I think the CEO and the company genuinely thought that this was
• 46:42
  a way to increase their revenue with the subscription service,
• 46:46
  however. Like you're paying for a back
• 46:50
  door because you don't feel like you can write down and properly
• 46:56
  secure 12 to 20. If you can take care of a child,
• 47:00
  you can take care of 12 words. You can you can take care of 24
• 47:05
  words. There's so many awesome Bitcoin
• 47:08
  companies that have made this easy for you.
• 47:11
  There's awesome Bitcoin content creators like a friend of mine,
• 47:14
  BTC Sessions, that dedicates his life to making tutorials For
• 47:18
  people that don't understand how to do this, Foundation Devices
• 47:24
  has an onboarding service. They will literally help you set
• 47:27
  up your hardware wallet if you get a passport, like literally.
• 47:33
  Also Swan Private as well. You sign up with Swan Private.
• 47:37
  You become a member of Swan Private.
• 47:38
  You can call any of the Swan private representatives and hey,
• 47:42
  they'll help you set up yourself custody where you actually have
• 47:46
  self custody. So look, the road, the road to
• 47:50
  hell is paved in good intentions.
• 47:52
  And the reality is that, look, if someone has a backdoor to
• 47:55
  your money and they're put in a bad position, and that bad
• 48:01
  position incentivizes, incentivizes them to take your
• 48:05
  money, because that is the easiest way they're going to use
• 48:09
  that way, right? So yeah, I'll be honest with
• 48:14
  you. Ledger was one of my favorite
• 48:16
  wallets and Opti knows this when I got into this and because it
• 48:20
  was so easy to use it was so convenient.
• 48:24
  But now obviously you know it's Bitcoin only wallets.
• 48:28
  Clearly you know because I I think that Bitcoin only wallets
• 48:31
  and and you know Ruston says it right there he's he's in the
• 48:34
  chat the Bitcoin way on one of our sponsors too for our swan.
• 48:38
  For our Simply Originals, they their whole business model is
• 48:42
  onboarding. So you could literally set up a
• 48:44
  call with them and they will onboard you and they'll make it
• 48:48
  easy for you. So yeah, check out the Bitcoin
• 48:52
  way. Check out Simply Originals,
• 48:53
  check out Rust and he's dropping some hot fire and you could see
• 48:58
  it. So, like, there's literally no
• 48:59
  excuse as to why you wanna use, you know, you wanna pay have a
• 49:06
  back door into your hardware wallet.
• 49:07
  And here's the thing, because ledger's.
• 49:09
  I'm not making any allegations or anything, but Ledger is close
• 49:13
  source, so you don't know what's going on behind the hood.
• 49:16
  How did they make that back door happen?
• 49:19
  Right. Do you trust that there isn't a
• 49:21
  back door with anything else? I don't know about you guys, but
• 49:25
  I want my hardware wallets to be open source, right?
• 49:28
  Which is what we recommend to you guys on this show.
• 49:31
  Always, right. So yeah, man, Opti, I mean I got
• 49:36
  to say bro, I'm, I'm, I'm disappointed.
• 49:38
  I was AI was a big fan. I was a big fan, bro.
• 49:41
  Big fan. Yeah, let's let's say James,
• 49:42
  jump in first and then and then I'll, I'll rant for a little
• 49:45
  bit. James, what's your thoughts on
• 49:46
  this? Well, excuse me.
• 49:51
  Yeah, Nico just touched on it right at the end there.
• 49:55
  Great. That was.
• 49:56
  I was completely agreed with all of that.
• 49:58
  I don't know if it's malicious or not.
• 50:00
  But that bit at the end, I want to know how they can just roll
• 50:02
  this out in a supposedly an air gapped device.
• 50:05
  That and it being closed source software that makes me think
• 50:11
  doesn't mean it's malicious, but maybe something in their code
• 50:14
  allowed them to do that. I don't.
• 50:17
  I don't know. I'm not technical enough to
• 50:19
  fully understand how that works, but that is a little fishy to me
• 50:24
  I guess. The other thing I would say
• 50:26
  about it is I think. Plenty of people are going to
• 50:29
  use that service. Unfortunately, people are lazy.
• 50:33
  So probably for, you know, a couple of years, people are
• 50:36
  going to use that service and then someone's going to discover
• 50:38
  a really bad exploit. Everyone's going to get wrecked
• 50:42
  and then they're no longer going to have that service.
• 50:46
  But unfortunately that's that's human nature.
• 50:49
  So we'll see. I mean it it it might end up
• 50:53
  being a fantastic advertisement for for a pure version of of
• 51:02
  self custody 100%. I 100% agree with you.
• 51:08
  Yeah man, it's a but it but it but it it's like yes, pure the
• 51:19
  the the question is are people really gonna wake the fuck up
• 51:22
  enough to be like OK guys, it it's time to like like stop
• 51:28
  outsourcing personal responsibility like it's so
• 51:34
  inconvenient for me to write down fucking 12 words it like it
• 51:40
  is so goddamn inconvenient for me.
• 51:42
  I'm going to have to pay this company to back up my it.
• 51:46
  In my opinion, this defeats the purpose of self custody.
• 51:49
  This is self custody. Like this is is not as bad as an
• 51:53
  exchange, but like, it's you know, like if shit hits the fan,
• 51:58
  they could just take your shit, right?
• 52:01
  So oh man. Anyways, Opti, what's your take
• 52:04
  on all this bro? Yeah.
• 52:06
  So first and foremost, of course, we talked about it in
• 52:08
  the beginning. We know that on and off ramps
• 52:11
  will be strangled and that is a point where people will rather
• 52:15
  the governments and you know, bureaucrats will try to hamper
• 52:19
  Bitcoin adoption. And the second one is what I
• 52:23
  always say here on the show. You know, custody and your
• 52:25
  Bitcoin is the revolution. And it it's so simple to us
• 52:29
  bitcoiners like I don't you use the e-mail.
• 52:33
  To me, using Bitcoin is no different than using e-mail.
• 52:36
  Yes, there's a little more responsibility.
• 52:38
  Yes, there's no. 800 number that I can call if I mess up my
• 52:42
  Bitcoin. But I don't know about you.
• 52:43
  I I, you know I trust myself more than a banker and I have I
• 52:47
  have a little faith in myself that I will remember and back
• 52:49
  this up. You go through the process it's
• 52:51
  not that hard it's just a new step and it's it always just
• 52:54
  reminds me of when you had to use new technology.
• 52:58
  There's a learning curve and once you get over that learning
• 53:01
  curve it's second nature and I think this is where we are right
• 53:04
  now. It's just like.
• 53:05
  A lot of people put up mental roadblocks to this learning
• 53:08
  curve because it's so different. They're so used to having
• 53:11
  trusted experts custody their Bitcoin or rather their other
• 53:14
  assets like their stock, etcetera.
• 53:16
  And people are lazy. And for better or worse, it's
• 53:20
  kind of what James says and and what people are saying in the
• 53:22
  chat as well. It's like people will use this,
• 53:24
  which is probably the saddest part about it.
• 53:26
  And the whole point was, you know, eliminating trusted third
• 53:29
  parties and yet. I find it interesting that some,
• 53:33
  I wouldn't even call them Bitcoin companies anymore.
• 53:37
  Shit, coin companies are are basically like recreating the
• 53:40
  broken wheel of trusted third parties within Bitcoin.
• 53:42
  And yes, I know people will want trusted third parties like it's
• 53:45
  part of human nature. I get it, I get it.
• 53:48
  But trying to eliminate the trusted third parties as much as
• 53:50
  possible, I think are some of the most important things to be
• 53:54
  doing and following the Bitcoin ethos, and hence why we.
• 53:57
  Embrace and support the companies that do do that
• 54:00
  because we do think that that is the most important thing to be
• 54:03
  doing is to take custody of your Bitcoin next to that UK law
• 54:08
  stuff. I said it last week, or maybe it
• 54:11
  was this week, I don't know. It's all a blur now.
• 54:13
  I find it amazing that the computer illiterates, the
• 54:15
  bureaucrats and politicians and the powers that be that don't
• 54:19
  understand what the hell they're doing, are trying to regulate
• 54:22
  what they don't understand. Again, like it hasn't worked in
• 54:25
  the past and it won't work this time.
• 54:27
  And I just, I it just never gets old to me.
• 54:30
  And and the irony of it all never, never gets passed on me.
• 54:34
  You know, these these geriatrics out there that don't understand
• 54:37
  how the world works, don't understand how technology works,
• 54:39
  obviously don't understand how Bitcoin works.
• 54:42
  And we laid it out and completely destroyed their
• 54:44
  narrative. And yet they're here to protect
• 54:47
  you. Again, we say it all the time.
• 54:49
  The very people you need protection from are the people
• 54:52
  here to quote UN quote, protect you.
• 54:54
  Like This is why we Bitcoin is to eliminate their their their
• 54:58
  attempt to even try to protect you.
• 55:00
  But again, this is a paradigm shift that we're moving through,
• 55:03
  that we're working through is people waking up to the true
• 55:06
  nature of the beast that we are dealing with.
• 55:09
  And then again, last point, well, actually a couple more
• 55:11
  points. Sorry, the doublespeak of the
• 55:14
  name of this bill. You know, it was economic crime
• 55:17
  and transparency bill like it's just it's so Orwellian.
• 55:21
  You know, we say it all the time, economic crime is not
• 55:26
  being done on Bitcoin and. Bitcoin is fully transparent,
• 55:30
  and it's literally an open, transparent Ledger where you can
• 55:33
  see everything is happening on the Ledger.
• 55:36
  By design, this is a feature of the network.
• 55:39
  Again, it just goes to show that they don't know what the hell
• 55:42
  they're doing Well, rather, they know what they're doing, but
• 55:44
  they don't know what they're trying to regulate.
• 55:46
  And then I was reminded of a meme I made for simply Bitcoin.
• 55:50
  You know hosted wallets. There's a hand with a parasite
• 55:54
  or a a Leech on it. Unhosted wallet, the Leech is
• 55:57
  gone. Unparasite your money today it's
• 56:01
  so simple just saving Bitcoin. It's just you know of course I
• 56:07
  of course I got to bring a meme into this, OK And you have to
• 56:10
  and then and then of course back to the the Ledger at the very
• 56:14
  end. You know, I wouldn't.
• 56:16
  Don't use this Ledger feature. I I've been, I haven't been able
• 56:20
  to endorse Ledger for a long time.
• 56:22
  Again, shouts out to our boy Pedro, who's been thoroughly
• 56:26
  destroying Ledger Live. We can't recommend Ledger
• 56:29
  anymore, even though that was my first hardware wallet like they
• 56:32
  do kind of have. You know, a place in my heart
• 56:35
  because I remember when I first took self custody, I was so
• 56:38
  proud I bought a Ledger. You know, I I like took my my
• 56:41
  Bitcoin into custody. I'm like yeah man, you know I
• 56:44
  got my first hardware wallet. This is so tight.
• 56:47
  And then you know you realize all the complexities of of
• 56:51
  having a hardware wallet that has shit coin firmware and then
• 56:54
  all the debacles since it. It's just like, man, you know, I
• 56:58
  I can no longer endorse Ledger. And this, this move again people
• 57:05
  are probably going to use it, which is even sadder and I just,
• 57:10
  I just like Ledger and and again we're going to move into a bull
• 57:14
  market. And most people are going to do
• 57:17
  the same thing that I did. They're going to take those
• 57:19
  steps into custodying their Bitcoin.
• 57:21
  They're probably going to go into a Ledger.
• 57:23
  They might learn the hard way that they should have used
• 57:26
  something else, you know. Hence why we recommend
• 57:29
  Foundations Passport. Like This is why we work with
• 57:33
  Bitcoin only companies, so that we we do our best to ensure that
• 57:38
  people are doing the best practices upfront.
• 57:40
  Because you do not want to get yourself in a position where you
• 57:42
  know potentially. Ledger has a back door to your
• 57:46
  Bitcoin Like that is it's it's So it's it's almost ridiculous
• 57:51
  that we're talking about this right now.
• 57:53
  Like, Oh my God. Anyways, anyways, I can probably
• 57:56
  rant on this for way too long and get way too flustered about
• 57:59
  it. Just guys, don't.
• 58:02
  Look, I hate to do this, but don't use Ledger.
• 58:05
  I mean, look, it's as simple as that.
• 58:07
  All right, everybody. Before we move on to the culture
• 58:11
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• 59:38
  This is where we talk to our guest about the cool stuff
• 59:40
  they're doing. And for those that don't know,
• 59:44
  James, what are you working on? Let the people actually maybe
• 59:47
  you can combine how you got into Bitcoin into what you're working
• 59:53
  on and why you're in El Salvador in a in a cool little rabbit
• 59:56
  hole story. But James, what are you doing?
• 1:00:00
  Well, mine is a fairly cliched Bitcoin story. 2017 came for the
• 1:00:08
  gains, actually started reading and you know stayed for the
• 1:00:12
  revolution. Was also living and studying in
• 1:00:18
  Canada in 2020 and that place went a little crazy shall we
• 1:00:25
  say. Then the legal tender law
• 1:00:29
  changed here kind of became a no brainer, kind of fell in love
• 1:00:36
  with the plates. Been here for a couple of years
• 1:00:38
  now and an extension of that as we were just talking about
• 1:00:45
  before in terms of the off ramps off and on ramps being an issue.
• 1:00:50
  And you know the parasites in charge are going to do
• 1:00:54
  everything they can to clamp down on that.
• 1:00:58
  It made sense to get the peer-to-peer circular economy
• 1:01:02
  going as quickly as possible, which it does exist here, but it
• 1:01:08
  is intermittent I would say. So there are some places you
• 1:01:13
  know you can go and spend your Bitcoin.
• 1:01:15
  There are other places where it's a luck of the draw.
• 1:01:19
  Maybe one day they do, maybe another day they don't.
• 1:01:24
  That was something that I saw as a bit of an issue.
• 1:01:28
  So we've started doing a guaranteed venue event,
• 1:01:35
  recurring event of a farmer's market where people that are
• 1:01:39
  either visiting obviously or people that live here that want
• 1:01:42
  to use Bitcoin, they know they can come there and they can
• 1:01:45
  spend their stats spend and replace.
• 1:01:47
  Hopefully that's what I'm a I'm an advocate for.
• 1:01:51
  That would be that would be it in a nutshell is it's a a
• 1:01:56
  fortnightly market. We have a really increasingly
• 1:02:00
  diverse range of products on offer, anything from grass fed
• 1:02:07
  beef, you know, organic vegetables, There's some amazing
• 1:02:11
  coffee producers, locally made honey fishermen, oysters,
• 1:02:20
  there's craftspeople as well attending now.
• 1:02:23
  It's been going for about 5 months and generally it's
• 1:02:31
  starting to really tick over. We've been doing it really
• 1:02:32
  consistently, so it's getting bigger and bigger and yeah, it's
• 1:02:39
  been a really fun, fulfilling little side project, I guess.
• 1:02:44
  So this is in Elzante, right? At Bitcoin Beach, yeah.
• 1:02:49
  Sweet. OK.
• 1:02:51
  If you could do like, you know, a guesstimate by average, like
• 1:02:54
  how many people are are at the farmer's market, You mean in
• 1:02:58
  terms of vendors, merchants, or in terms of people attending or?
• 1:03:01
  Yeah, maybe maybe both. Like, you kind of run around the
• 1:03:04
  merchant, but like, how many attendees do you have?
• 1:03:07
  The last one, we had about 200 people come.
• 1:03:09
  Wow, Yeah. Are they are they only
• 1:03:13
  bitcoiners? Or are there some other people
• 1:03:15
  that aren't necessarily bitcoiners and are going to get
• 1:03:17
  orange pilled? It's majority bitcoiners, but
• 1:03:21
  there are people that do come that are just curious.
• 1:03:24
  I mean who doesn't like a good little market on a Sunday when
• 1:03:27
  you're out having a stroll? We're not Bitcoin only, I should
• 1:03:31
  clarify that. So we do get some people that
• 1:03:36
  come in and spend USD with the vendors and there is, there are
• 1:03:42
  some people that do get orange pills.
• 1:03:44
  It is. It is quite a fun little
• 1:03:46
  effective way of orange, orange peeling people, 'cause they
• 1:03:48
  just, it's just right there, nice and simple.
• 1:03:52
  Download a wallet. We have had exchange services,
• 1:03:56
  so sometimes people have come in and actually just, Oh yeah, all
• 1:04:01
  right, I'll try this Bitcoin thing, exchange some USD and
• 1:04:04
  then they go and spend it somewhere else.
• 1:04:05
  I actually did that with my mother last week.
• 1:04:08
  I was like, mum, don't do that here.
• 1:04:11
  I'll send you some Bitcoin and you can go hit 50 bucks and go
• 1:04:15
  buy yourself some pretty, yeah, that's the that's the project.
• 1:04:22
  Love it. OK so I I've recently become a
• 1:04:26
  farmers market local. I I try to make it every every
• 1:04:31
  week or every other week and go get meats and and my my roommate
• 1:04:35
  gets like raw milk and you know they got they got cheese and and
• 1:04:38
  breads and all that good stuff and I noticed that there is like
• 1:04:43
  and you kind of just touched on it usually at the farmers
• 1:04:45
  markets. They'll have like some kind of
• 1:04:48
  exchange there where like you can use your credit card to pay
• 1:04:51
  for like tokens and then they can, you know, turn in those
• 1:04:54
  tokens for dollars. So like, how, how exactly does
• 1:04:57
  the mechanism work there? Like you kind of hit on it with
• 1:05:00
  your mom. Is there like a Bitcoin exchange
• 1:05:02
  or are people just downloading Bitcoin wallets and it's
• 1:05:05
  peer-to-peer like that? It's peer-to-peer.
• 1:05:08
  I'm excuse me, I'm pretty much the Bitcoin ATM there.
• 1:05:12
  I will. If people want to exchange, I'm
• 1:05:15
  happy to do that. We did have a they're called
• 1:05:20
  Achievo Achievo ATM in Elzonte, but that just recently had some
• 1:05:26
  technical issues. So it's not here at the moment.
• 1:05:29
  But that was another service that we would have, especially
• 1:05:32
  for some vendors if they wanted, like we require the vendors to
• 1:05:36
  accept Bitcoin, but maybe they don't want to hold on to it
• 1:05:38
  because it's intimidating, right?
• 1:05:40
  Especially if it's your first time.
• 1:05:43
  So we would be taking people to those to that ATM and helping
• 1:05:47
  them get USD out at the end of the day, which thankfully has
• 1:05:51
  not been used very much. Quite often people who get into
• 1:05:54
  it and they they want to hold on to it, which has been really
• 1:05:57
  nice to see. Love it.
• 1:06:00
  I'm going to get rushed in the chat.
• 1:06:01
  Love it. Awesome, bro.
• 1:06:03
  Well, I think maybe now. Is the time where where we do
• 1:06:09
  the the tricky conversation of the circular economy of you know
• 1:06:16
  spending sets and I love the I love the initiative I wish my
• 1:06:20
  local farmers market would take Bitcoin it'd make my life that
• 1:06:23
  much easier and and obviously would improve the the vendors
• 1:06:27
  lives. But I I find it just so
• 1:06:29
  difficult to like get the conversation started with people
• 1:06:32
  I I just like. I just want, I just want to buy
• 1:06:34
  some meat. I I don't really feel the need
• 1:06:36
  to like change your whole world view here.
• 1:06:39
  But OK, let's let's do let's do huddle versus circular economy
• 1:06:43
  and spending your sets. What's your thoughts on this?
• 1:06:49
  I I don't understand why people can't just huddle and replace.
• 1:06:52
  If you have a set up with however you buy your Bitcoin if
• 1:06:59
  you are willing to support Bitcoin businesses I think
• 1:07:04
  that's really important and whatever you go and spend just
• 1:07:07
  replace it and and and that's cold storage.
• 1:07:10
  I don't see why you can't do both.
• 1:07:12
  Obviously you know, huddling is it's what got us here in the 1st
• 1:07:18
  place, right? There's there's no disrespect to
• 1:07:20
  the the huddlers of last resort, but we are aiming, in my
• 1:07:27
  opinion, Bitcoin. We should be aiming to move not
• 1:07:31
  just from a store of value, but also to a medium exchange, a
• 1:07:33
  unit of count, etc etc. We all know those talking
• 1:07:36
  points. Part of doing that is supporting
• 1:07:40
  businesses that accept Bitcoin and spend and replace.
• 1:07:45
  That would be my take on it. OK.
• 1:07:47
  I love it. Yeah.
• 1:07:48
  I mean, I really always think about it in terms of.
• 1:07:53
  If you're still kind of, you know, 1 foot in the Fiat world,
• 1:07:56
  1 foot in the Bitcoin world, then I can see why you're going
• 1:07:59
  to spend that dirty Fiat first. But if you're just completely
• 1:08:02
  all in on Bitcoin, hey, it's your money.
• 1:08:04
  You have to use it somewhere and you want more merchants and more
• 1:08:07
  vendors to accept it so that it it becomes what we know it is
• 1:08:11
  and it's money instead of just a store of value.
• 1:08:14
  But I understand, you know the like.
• 1:08:16
  The tax concerns for most people and you know, not not to judge
• 1:08:19
  you, but I hear an accent there. So I'm guessing you're not an
• 1:08:22
  American. No mate, I'm an Aussie.
• 1:08:28
  And I I guess, yeah, that is something I'm don't know a lot
• 1:08:33
  about is the tax implications in other jurisdictions.
• 1:08:36
  So it's probably pretty easy for me to sit on my high horse in
• 1:08:40
  Bitcoin country where it's legal tender.
• 1:08:43
  So you know, I I think that's probably fair enough.
• 1:08:47
  I guess there's extra layers of complication there for people.
• 1:08:50
  So yeah, because it's it's so like a a lot of people don't
• 1:08:53
  know that. I mean, if you're American, you
• 1:08:55
  know this, but no matter where you are as an American, you have
• 1:08:58
  to pay taxes, right? That isn't the case for
• 1:09:05
  basically every country on planet Earth.
• 1:09:08
  They're introducing that in in Australia.
• 1:09:10
  Now they. Are introduced.
• 1:09:11
  Are you going to give up? Are you going to give up your
• 1:09:13
  citizenship? I am, Yeah.
• 1:09:15
  That's wow. Amazing.
• 1:09:16
  So how many? Individuals playing out, I'm
• 1:09:19
  done with these crooks. So yeah, I'm lucky enough to
• 1:09:23
  have another citizenship, which I probably won't say, but yeah,
• 1:09:28
  yeah, I'm in the process of of renouncing because I don't even
• 1:09:33
  know if I'll ever go back to that country.
• 1:09:34
  I'll I'll go back when the government collapses and you
• 1:09:38
  know, they're breaking. They're breaking out the
• 1:09:40
  guillotines, maybe. We'll see.
• 1:09:43
  And my favorite black and white costumes.
• 1:09:47
  Not, not. Not a prison uniforms.
• 1:09:49
  Use your imagination. OK, All right, James, one more
• 1:09:54
  question. Or actually kind of two, What is
• 1:09:59
  the future for the Bitcoin farmers market and how excited
• 1:10:04
  are you to be living in El Salvador currently and just
• 1:10:07
  seeing where the country's going?
• 1:10:09
  You said you've been there for at least five months, so I'm
• 1:10:11
  sure you've seen some advancements.
• 1:10:13
  Oh no. We've been doing the market for
• 1:10:15
  five months. I've been here.
• 1:10:16
  I've been here for a couple of years actually.
• 1:10:18
  Oh, let's go. Yeah.
• 1:10:20
  Yeah, after the the tender law changed, I was here fairly
• 1:10:24
  quickly in terms of the market. We are just aiming to get as
• 1:10:31
  consistent as possible so that it becomes a recurring event
• 1:10:35
  with a bigger and bigger following.
• 1:10:37
  We are doing some pop up markets in other places.
• 1:10:40
  Actually on this Sunday we are doing one up in a little town
• 1:10:45
  called Berlin, which is up in the mountains in El Salvador.
• 1:10:48
  So anybody watching, if you are in the country, it's about an
• 1:10:52
  hour North East of the capital. Please come and check it out.
• 1:11:00
  That's going to be a really big day.
• 1:11:01
  It's not, we're not just doing the market, it's the big we're
• 1:11:06
  we're just a small part of a bigger festival up in that town.
• 1:11:09
  They've invited us. They're doing their own circular
• 1:11:11
  economy. They're bootstrapping their own
• 1:11:13
  thing up there. So yeah, please, if you're in
• 1:11:19
  town, come and check it out. In terms of El Salvador, it is.
• 1:11:25
  It is a bizarre and and beautiful place.
• 1:11:28
  I really like it. It's not for everyone.
• 1:11:31
  It depends where you live. If you live in the city, you
• 1:11:35
  might not notice the great, great difference.
• 1:11:38
  I'm out in the in the jungle, so you kind of have to be prepared
• 1:11:41
  to, you know, you gotta, you gotta be really self-sustaining
• 1:11:46
  and I love that. For me that's fantastic.
• 1:11:49
  But I think for some we've we've met some people where it's a bit
• 1:11:52
  of a bit of a shock for them in terms of the actual climate in
• 1:11:57
  the country, it seems like there's a lot of hope.
• 1:12:03
  This country's been through a lot.
• 1:12:05
  We've been through civil war 30 years ago and then the gangs
• 1:12:09
  were obviously horrific. There is, there is a lot of
• 1:12:13
  optimism in the air here. It's it's palpable.
• 1:12:18
  It's it's really nice to be, to be honest.
• 1:12:21
  That's awesome. That.
• 1:12:22
  That's so that's so inspiring, bro.
• 1:12:25
  Holy cow. Wow.
• 1:12:28
  OK, you're you are an expat. Chose to move to the shining
• 1:12:33
  country on a hill. Savior El Salvador you don't
• 1:12:37
  live in the big city. You live in the countryside.
• 1:12:40
  And I'm. I'm Latin American.
• 1:12:43
  I've lived in I haven't lived in Central America but I have lived
• 1:12:47
  in the Caribbean have lived in South America.
• 1:12:49
  So I know exactly what you're talking about when you mean it's
• 1:12:52
  different and but to me what's surprising is you know I speak
• 1:12:57
  Spanish so that's like like I I it's it's I I would say it's
• 1:13:03
  it's not that it's. Normal to me.
• 1:13:05
  But I am. I know that world.
• 1:13:07
  But for someone who lived in a developed country like Australia
• 1:13:11
  leaving and then finding comfort in the countryside in Central
• 1:13:17
  America, I think that speaks volumes for how much progress
• 1:13:22
  Naim Boukale and El Salvador have have made.
• 1:13:26
  And that is extremely promising. I like I'm, I'm, I'm surprised,
• 1:13:32
  right? I'm surprised.
• 1:13:34
  Well, man, when you come visit, we'll have to go out to the
• 1:13:36
  ranch. We'll ride some horses and
• 1:13:38
  stuff. It's fun.
• 1:13:41
  It's fun out here. Sounds like a plan.
• 1:13:43
  Wait, Nico, before we go to meme review, James, we we didn't tell
• 1:13:47
  people where they could find the farmers market, The one that you
• 1:13:50
  do biweekly. Let the people know where they
• 1:13:52
  can find you. And if they're in El Salvador
• 1:13:55
  currently or they're going to make a Mecca trip out there,
• 1:13:58
  where exactly are you guys located and what dates do you
• 1:14:02
  usually? Run the market, right?
• 1:14:05
  Yeah. So we do every second, Sunday
• 1:14:08
  2nd, 2nd and last Sunday of each month basically.
• 1:14:12
  So check it out on Twitter. We have a noster, which I don't
• 1:14:17
  do a good enough job keeping updated because I'm still
• 1:14:21
  getting in the habit of using that over over Twitter.
• 1:14:25
  We have an Instagram as well, which my lady runs.
• 1:14:29
  So yeah, just the regular socials shoot us the DM if you
• 1:14:32
  have any questions. We update them pretty regularly
• 1:14:35
  with posters, etcetera, dates, times, location, etcetera,
• 1:14:40
  etcetera. That would be the easiest way if
• 1:14:42
  you wanted to find more info and hopefully come along.
• 1:14:46
  Love it. Love it bro.
• 1:14:47
  Well, really appreciate your time.
• 1:14:49
  Great story. Can't wait to get back down
• 1:14:51
  there and actually hit it. I was there.
• 1:14:53
  I think it was last August and. I I can't wait to get down there
• 1:14:56
  and and see how it's improved and and see more bitcoiners and
• 1:15:00
  yeah man. I'll, I'll definitely be hitting
• 1:15:02
  up the farmers market when I'm down there.
• 1:15:04
  Go. Do you mind if I plug one more
• 1:15:06
  thing? Actually, yeah, shoot it.
• 1:15:07
  Thank you. We, we're doing another market
• 1:15:10
  on the 9th of November that's coinciding with like the third
• 1:15:15
  day of the conference and that one's going to be a really big
• 1:15:19
  one. We're getting bands, we're going
• 1:15:21
  to have a little dirt bike track.
• 1:15:23
  We're going to have skating competitions, prizes and stats,
• 1:15:26
  things like that. We're also shout out to
• 1:15:29
  Winekeus, he let's go, that's Winekeus because he coined the
• 1:15:34
  term plebique. So we're going to do a big
• 1:15:37
  plebique as well. We're going to do a big, big
• 1:15:41
  fire pit and smoke a whole bunch of meat and do that as part of
• 1:15:47
  the whole market. So that's going to be a really a
• 1:15:49
  really fun day. Love it, bro.
• 1:15:51
  Love it. Well, shouts out the wine.
• 1:15:54
  Yeah, he hate, he hates when I say it, but he is the
• 1:15:57
  influencers influencer and he's behind the scenes and you know,
• 1:16:02
  I know he wants to be more of an influencer, but he's just, you
• 1:16:06
  know, he's got his tentacles everywhere.
• 1:16:07
  Shuts out the Winegas. Indeed.
• 1:16:10
  Well, thank you guys very much for having me on.
• 1:16:13
  No, man. Appreciate the opportunity to
• 1:16:15
  you know, yeah man, this is this.
• 1:16:18
  Is what it's all about. You know, this is what the
• 1:16:20
  culture segments about IS is highlighting.
• 1:16:22
  Bitcoin is doing cool stuff and continuing to push that Bitcoin
• 1:16:26
  culture forward and, you know, giving.
• 1:16:30
  Giving attention to a bunch of cool projects so that people
• 1:16:32
  know that there is more Bitcoin is out there doing cool stuff
• 1:16:35
  and maybe they should get involved or maybe create their
• 1:16:38
  own farmers market. I don't know.
• 1:16:39
  You know, hey, I'm just a top your own.
• 1:16:41
  It's a decentralized movement, right?
• 1:16:43
  I want to see more of these things around.
• 1:16:45
  In fact, if you have any, if someone's thinking about it, DM
• 1:16:49
  me because I've learned a few lessons along the way.
• 1:16:52
  If you you know, I can help you not make the mistakes that I've
• 1:16:54
  made. So.
• 1:16:56
  I love it. Yeah, so.
• 1:16:57
  But dude, I love, man. That makes me Opti.
• 1:17:03
  We haven't just been talking crap, bro.
• 1:17:06
  Do you understand? Listen.
• 1:17:08
  So do you understand? No.
• 1:17:10
  People don't understand. You don't understand.
• 1:17:12
  OK? Latin America is not like the
• 1:17:16
  US, OK? Like it's not like the US.
• 1:17:20
  Like, it's the type of place where you can't wear certain
• 1:17:23
  watches on the street. You don't want to pull out your
• 1:17:25
  iPhone, right? You don't want to pull out your
• 1:17:28
  phone, right. You kind of want to just be wary
• 1:17:31
  of your surroundings and stuff, right?
• 1:17:34
  So it's a kind of a little bit of a different environment.
• 1:17:36
  And the fact, and I I agree with you, bigger cities are depends,
• 1:17:41
  right? But you know, they tend to be,
• 1:17:43
  let's just say, a little bit more developed.
• 1:17:46
  But the countryside? No, no, no, no.
• 1:17:48
  That's a whole different world. And the fact that you're having
• 1:17:51
  a a good experience as an expat, someone not Hispanic.
• 1:17:56
  How's your Spanish, by the way? Estrella prendiendo, Pero esmal.
• 1:18:03
  Cassie Etagando Etagando. OK.
• 1:18:06
  So, so, but yeah, man, that that to me is, is that's awesome that
• 1:18:12
  that's. It's.
• 1:18:13
  Oh, man. Naeem Boukele, Absolute Legends
• 1:18:16
  Boukele 2024, KLA 2024. All right, everybody, let's get
• 1:18:21
  to the memes. Let's do it.
• 1:18:29
  The Daily Meme Review. All right guys, you already know
• 1:18:37
  the deal. This is the meme review where
• 1:18:39
  you tag me in memes on Twitter. Simply Bitcoin TV or my personal
• 1:18:44
  one. Optimist fields.
• 1:18:46
  I'll keep doing that for a little bit until it gets too
• 1:18:49
  much notifications or drop them in our Telegram group.
• 1:18:53
  T dot me simply Bitcoin TV. I look through them every
• 1:18:56
  morning. Guys.
• 1:18:57
  You guys are still just giving me.
• 1:18:59
  You're still just stealing memes.
• 1:19:00
  They're not giving me the Twitter account.
• 1:19:02
  I'll take the Noster tweets or posts or burps or whatever the
• 1:19:05
  whatever you call them on Noster now, tweets are the bullets.
• 1:19:10
  Memes are the artillery. As we've constantly been
• 1:19:12
  reiterating on this show, we are in an information war, and it's
• 1:19:18
  upon us to spread the signal to ridicule the corporate press.
• 1:19:23
  To get the humor out there, because if you tell people the
• 1:19:25
  truth and you don't make them laugh, they may just kill you.
• 1:19:29
  As George Carlin usually said, like no, go go back to the
• 1:19:32
  memes. Go what?
• 1:19:34
  What is going on here anyways, guys, there's the meme review.
• 1:19:40
  Get your meme review scores ready, because we've been
• 1:19:43
  delayed too long, and drop it on the last one.
• 1:19:46
  So that we can. You can't vote for me for 2028.
• 1:19:50
  It won't work. It won't work.
• 1:19:52
  Get your mean review scores ready because we've had delays.
• 1:19:56
  And then we want to keep it going.
• 1:19:59
  All right, guys, all right, all right.
• 1:20:00
  Theme is by Michael Saylor. I just love when billionaires
• 1:20:05
  meme with us on Twitter. And this is something I've been
• 1:20:08
  saying. This is the theme I've been
• 1:20:10
  hitting on all week. And James is a part of this.
• 1:20:14
  Engineer a better future with the Bitcoin standard.
• 1:20:18
  And you can see here Bitcoin logo with, you know, the atoms
• 1:20:21
  and mathematical equations behind it.
• 1:20:23
  And you know, I don't know who, I don't know who's doing the AI
• 1:20:27
  for Sailor. I doubt he's the one using it
• 1:20:30
  himself. Maybe he's got his secretary
• 1:20:32
  doing it, but constantly making the AI memes engineer better
• 1:20:35
  future guys. This is the way.
• 1:20:37
  This is what we're all doing here, figuring out how we can
• 1:20:40
  all participate and further push the Bitcoin standard.
• 1:20:45
  Anyways, next meme is by Maxi's club and we got a bear here
• 1:20:49
  crying with its red candle, and we have a bull stealing its
• 1:20:54
  chart of my first market and some green candles.
• 1:20:56
  Guys, I'm not fully confident that I can say we're in a bull
• 1:21:01
  market yet. We might have one more dip in,
• 1:21:03
  but it feels like we're in a bull market.
• 1:21:05
  You know, 35 K feels pretty good and the green candles will come
• 1:21:08
  soon, so make sure you're stacking.
• 1:21:11
  Make sure your Bitcoin is in cold storage stacking.
• 1:21:15
  Make sure you are in a good position before the bull begins
• 1:21:19
  its run. OK, next one is by our boy
• 1:21:22
  Vikingo, AKA at Vikingo Bitcoin 9 and he just goes hashtag BTC
• 1:21:27
  and we got a classic NPC Whoa Jack here and it goes.
• 1:21:30
  Bitcoin isn't worth anything. And the context here for Vikingo
• 1:21:33
  is he keeps trying to get paid in Bitcoin.
• 1:21:36
  He keeps having these conversations.
• 1:21:37
  He's getting very black pilled. He's like, I don't even want to
• 1:21:40
  have these orange pilled conversations with people
• 1:21:42
  anymore. I'm kind of the same way like we
• 1:21:45
  do the show, I I let them come to me now.
• 1:21:47
  You know sometimes us bitcoins can be unbearable.
• 1:21:50
  I I don't even try to orange pill the vendors anymore.
• 1:21:53
  I'm just like OK you want Fiat? Fine.
• 1:21:55
  Like I got Bitcoin but whatever, fine, fine, fine.
• 1:21:57
  We get it. You know the the whoa Jack out
• 1:22:00
  there the MPC out there is going Bitcoin isn't worth anything.
• 1:22:02
  Well guys, it's 35K and as we move into the bull run, more
• 1:22:06
  people will wake up to the fact that Bitcoin is worth a lot.
• 1:22:09
  It's actually worth $35,000. Who would have thought?
• 1:22:13
  OK, next one, shout out the Big Sean Harris 'cause he's the GOAT
• 1:22:17
  and he just goes unpopular opinion bitcoiners when you buy
• 1:22:20
  Bitcoin from an exchange they don't like.
• 1:22:23
  And we have Dwight from the office.
• 1:22:26
  This might not even be from the office though, but he's in a oh,
• 1:22:30
  wife beater looking very concerned.
• 1:22:32
  And also, I want to add to this one, It's what Big Sean says.
• 1:22:36
  And I say this all the time as well, so shouts out the Big
• 1:22:39
  Sean. He says, I don't care where or
• 1:22:40
  who you buy your Bitcoin from, as long as you have the ability
• 1:22:43
  to move it into your cold wallet where you own your own keys.
• 1:22:49
  This is the way guys like we all have, you know, our favorites.
• 1:22:54
  Maybe you're a no KYC advocate, maybe you just don't even care.
• 1:23:00
  Maybe you're a peer-to-peer guy. All that really matters is that
• 1:23:04
  you take your Bitcoin into cold storage, that you own the
• 1:23:06
  private queues. And as more and more people get
• 1:23:09
  on the Bitcoin standard, all of this will be for naughty and it
• 1:23:13
  really won't matter in my opinion.
• 1:23:15
  Maybe I'm naive. I understand the threats from
• 1:23:18
  authoritarians, tyrants and all that stuff, but in my opinion
• 1:23:22
  they can barely control their own monetary network.
• 1:23:24
  You think they're gonna control ours?
• 1:23:25
  Nope, not gonna happen. Anyways, side tangent next week
• 1:23:30
  in by Rory. Hindsight shout out to Rory.
• 1:23:33
  Also an Aussie a go in my opinion.
• 1:23:36
  Been around for a long time. Wait, hold on, hold on.
• 1:23:39
  James, could you say Kangaroos? Kangaroos wait, wait, wait, Can
• 1:23:47
  you we? Actually, just call them Roos.
• 1:23:50
  But can you say no? Can you do it?
• 1:23:54
  No. Ner, where does the R come from?
• 1:23:57
  I don't get it. OK.
• 1:23:59
  Anyway, side tangent, there's much.
• 1:24:01
  To do on that big pile of sand. So we have to get creative with
• 1:24:04
  that language. You know, OK, Rory, high side
• 1:24:08
  goes. All wars are banker wars.
• 1:24:10
  War is expensive. Burr is inevitable.
• 1:24:13
  Opt out with Bitcoin and we got a picture here of Jerome Powell
• 1:24:17
  with a burning pile of cash in front of him and the Bitcoin or
• 1:24:23
  not the Bitcoin flag, The American flag in red or is this
• 1:24:25
  orange? I can't tell I'm colored blind.
• 1:24:27
  Is this orange or is is this orange tinted?
• 1:24:29
  Is it red? The fire?
• 1:24:31
  The fire is tinting it orange. OK, what do you what do you see?
• 1:24:37
  It looks kind of orange, but like kind of red to me.
• 1:24:40
  I don't know. Interesting.
• 1:24:42
  All right, this last one is my RDBTCAKLRD, under score BTC.
• 1:24:48
  And he goes, it's a way of life, Hashtag Bitcoin.
• 1:24:50
  And here's all of the new bitcoins.
• 1:24:53
  Here's all of us. Basically, we got a guy here
• 1:24:56
  sitting, you know, on a platform, he's in a suit and
• 1:24:59
  he's laserized. He goes when you first find
• 1:25:01
  Bitcoin and you just sit there with laser eyes like this is who
• 1:25:04
  I am now. I guess I'm a bitcoiner.
• 1:25:06
  I I guess this is my life. I guess my whole life purpose is
• 1:25:10
  to try to orange peel people to huddle these coins, to
• 1:25:13
  continuously interject Bitcoin into every conversation
• 1:25:18
  possible. Because Bitcoin fixes this.
• 1:25:20
  This is who I am now. I've accepted this.
• 1:25:22
  I am OK with this. I I'm the Unbearable Bitcoiner.
• 1:25:26
  It is what it is. It is what it is.
• 1:25:28
  All right guys, drop your meme review score in the chat as we
• 1:25:31
  cover ours live and we will get to yours.
• 1:25:35
  Anika, you have yours out. Let's go with you first.
• 1:25:37
  Yeah, I see Sophie is in the chat, so I'm going to give it a
• 1:25:42
  fucking dancing squirrel 3. Dancing squirrels.
• 1:25:46
  Pop, pop, pop, pop, pop, pop. Yeah, I was gonna say where's
• 1:25:49
  the music, bro? Where's the music?
• 1:25:54
  Yeah, that's enough. Where we get copyrighted.
• 1:25:56
  That is my meme score. That is my meme score, alright,
• 1:26:00
  my meme, my meme review score is the Bitcoin dog by our boy Will
• 1:26:06
  Shouts out to you Will. But actually let me let me read
• 1:26:09
  the note he wrote for me here when I saw him at Pacific
• 1:26:12
  Bitcoin. He goes opti you bastard, love
• 1:26:14
  you, the Bitcoin dog shouts out to you Will.
• 1:26:22
  Yeah, I can read. Yes, this is true.
• 1:26:27
  Better than you, too. That's true.
• 1:26:33
  All right, James, your turn. I'm.
• 1:26:35
  Going to give it one Bitcoin Air Max Dang.
• 1:26:42
  Yeah, these are made by a little local artist here.
• 1:26:47
  Sick. So come to Bitcoin country and
• 1:26:51
  grab yourself a pair that's 20. Yeah, that's nice.
• 1:26:54
  Do you only have one? Do you have a?
• 1:26:56
  Is it? Is it custom?
• 1:26:58
  Is it like? Did you?
• 1:26:59
  Did he paint it? Yeah, yeah.
• 1:27:02
  So you're never gonna wear those?
• 1:27:04
  I know. Well, these are actually for my
• 1:27:06
  lady. These are way too small for me.
• 1:27:07
  But no, I don't think she's ever gonna wear them either.
• 1:27:11
  Well. Little collector, Yeah.
• 1:27:14
  Collector's Edition? Absolutely.
• 1:27:15
  You don't want to increase your your Air Force ones, bro.
• 1:27:18
  That's bad. Yeah, yeah, yeah.
• 1:27:20
  I agree, definitely not. Well, great, great scores today.
• 1:27:24
  Before we, before we get, before we get into the meme review
• 1:27:28
  score, I want to give a shout out to to wine.
• 1:27:32
  Really. Shut up wine.
• 1:27:35
  Get our merch or wine. Will get upset with us.
• 1:27:39
  He he's, he's our merch guy and I'm yelling at him to get you
• 1:27:42
  guys hats. We're in the works.
• 1:27:44
  We're talking about it. I know, I know, you guys are
• 1:27:46
  going to yell at me in the. Chat.
• 1:27:48
  It literally says Bitcoin or slavery in the stitching.
• 1:27:51
  It's super freaking nice. Opti's wearing a represent.
• 1:27:55
  Represent are the ones who made it for us.
• 1:27:57
  Very high quality merch. We're working on the dad hats.
• 1:28:01
  We're working on the on the snapbacks.
• 1:28:03
  The snapbacks as well. Let me know, let me know in the
• 1:28:06
  chat. We're.
• 1:28:06
  Working on the female merch or in Telegram?
• 1:28:09
  What do you guys want? Snapbacks, Dad hats?
• 1:28:13
  Female sizes? I get it where you're going to.
• 1:28:15
  You could really support the show by by really getting some
• 1:28:19
  of our merch. Anyways, Opti, it's time for the
• 1:28:23
  meme review. All right, Justin Boy.
• 1:28:29
  Even Meme Score BTC peer-to-peer paradigm adoption completed 100.
• 1:28:36
  Well, close not not completed yet.
• 1:28:38
  OK, Will, Wettenheim says the process of opting out is backing
• 1:28:44
  out. Always keeping an eye out on the
• 1:28:46
  Lizard class. Phillip.
• 1:28:48
  I don't know, Nico. You make Eric.
• 1:28:54
  Philip Russo says Lagarde, looking away for any way to gain
• 1:28:58
  access to Opti. That's a good one.
• 1:29:03
  That was a that was a good censorship.
• 1:29:05
  Narwhal tacos. Meme score.
• 1:29:07
  Liz Warren's Ledger gets rugged by her own department.
• 1:29:11
  Yes. Oh man, Next one.
• 1:29:22
  I think there's a delay. There's the delay.
• 1:29:24
  No, there isn't a delay. It's because we ran out of time.
• 1:29:29
  We ran out of time. There's just we just ran out of
• 1:29:31
  time. Anyways, guys, if you enjoyed
• 1:29:35
  the show, make sure to smash that like button.
• 1:29:37
  Consider subscribing if you feel like we provided you value.
• 1:29:39
  But the number one thing you do to help this movement, share
• 1:29:42
  Bitcoin content, share projects that bitcoiners are working on,
• 1:29:45
  share Bitcoin art, that's we got to change the culture.
• 1:29:48
  We got to fundamentally change the culture, change the culture.
• 1:29:51
  We win this thing and I think we're going to win this thing
• 1:29:54
  anyways, but it will just make it a lot faster.
• 1:29:57
  I want to give a shout out to our guest, BTC Farmers Market.
• 1:30:00
  Thank you so much for joining us today, man.
• 1:30:02
  Really, really appreciate it. And shout out to you moving to
• 1:30:07
  the shining country on a hill, El Salvador.
• 1:30:09
  I'm so glad that you're having a great time and makes me really,
• 1:30:13
  really happy that Naimbu Kele is, you know, doing good things
• 1:30:16
  over there. Well, thank you very much for
• 1:30:19
  having me on both of you. It's a pleasure to be here.
• 1:30:22
  And sorry I don't get to watch the show as much as I would like
• 1:30:25
  to. I'm too busy but fan of the
• 1:30:28
  show. It's an honor to be here.
• 1:30:30
  So thanks very much. The honor's ours, man.
• 1:30:33
  Thank you so much for coming and hopefully we'll have you back on
• 1:30:36
  soon and see see how your project is developing, man.
• 1:30:40
  So thank you so much again for joining us.
• 1:30:42
  Appreciate it all. Right guys.
• 1:30:45
  Have an amazing weekend, everyone.
• 1:30:46
  Take care. And you know some some well
• 1:30:50
  needed rest. Relax, go outside, get some sun,
• 1:30:53
  eat some good food, you know, hang out with good people.
• 1:30:57
  Love you all. And we'll be back on Monday,
• 1:31:00
  12:15 PM Eastern Standard Time for another episode of Simply
• 1:31:05
  Bitcoin Live. Peace out, everybody.