Latest / Simply Bitcoin / Whales have OFFICIALLY DUMPED 4,000,000 Bitcoin?! [IS IT OVER] | EP 1400

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Whales have OFFICIALLY DUMPED 4,000,000 Bitcoin?! [IS IT OVER] | EP 1400 · Simply Bitcoin

• 0:00
  A lot of people have been struggling to explain why the
• 0:04
  Bitcoin price has felt stuck at 100K.
• 0:08
  Well, according to K 33 Research, over 4 million Bitcoin
• 0:12
  has moved in the past 24 months. That's the largest movement of
• 0:17
  coins since the 2017 top. Now the real question is why did
• 0:22
  so many coins move and is it finally coming to an end?
• 0:27
  Let's break it all down guys. So you heard it right.
• 0:30
  Right, man, there's been a lot of selling, it's been a lot of
• 0:33
  movement of coins. It's really here.
• 0:36
  Look, it is a simply Opti show today and I am feeling a little
• 0:40
  vindicated right now. I, I've been telling you guys,
• 0:42
  this is what's happening and more, more data, more research
• 0:46
  is coming to the front. It's it's proving what I've been
• 0:49
  saying. You know I was the source
• 0:52
  originally now I have the source to back it up here.
• 0:56
  So let me pull this up here we go here is the actual research.
• 1:01
  I I don't have the paywall here. I I didn't have the K 33
• 1:05
  research, so I will be using the block to kind of cover this, but
• 1:09
  look at this headline. 4 million Bitcoin revived over the past.
• 1:14
  2. Years activity stays low in the
• 1:16
  crypto market with low volumes and modest open interest
• 1:19
  following another week of chop. Will rebalancing effects improve
• 1:24
  the momentum as we grind towards the end of 2025?
• 1:28
  So, you know, good headline, good subtitle, but let's go over
• 1:31
  here to the blog 'cause they actually had access to this and
• 1:36
  I think the title really kind of hits on what is going on.
• 1:42
  So let me zoom in and it is off from the block againtheblock.co
• 1:46
  and it goes Southside. Pressure from long term Bitcoin
• 1:49
  holders near saturation K-33. What does that mean?
• 1:55
  We're going to break it down. So just getting a little bit of
• 1:58
  the, you know, the key points here approximately 20% again,
• 2:03
  20% of the Bitcoin supply has been reactivated over the past
• 2:09
  two years, marking one of the largest long term holder
• 2:13
  distribution phases on record. We haven't seen this since 2017
• 2:18
  yes, I know everyone thought this year was going to be crazy
• 2:22
  bullish. Turns out so many coins have
• 2:26
  been unlocked. Excuse me that obviously that's
• 2:30
  why we didn't move that much. But the flip side is that
• 2:33
  Bitcoin has been able to maintain 100K.
• 2:36
  Well, I know now it, it almost retraced the 90 Ki know it's
• 2:40
  currently at like 87 or something like that right now.
• 2:43
  I'll, I'll check in a minute. But the fact it's held on this
• 2:47
  strong, considering 20% of the Bitcoin has been reactive with a
• 2:51
  lot of old holders, you know, selling it or exchanging their
• 2:55
  Bitcoin for these Wall Street products.
• 2:57
  And that's where we're going to break down.
• 2:58
  So anyways, the head of research predicts selling by early
• 3:01
  holders to subside in 2026, allowing for a two year supply
• 3:06
  to recover as the market shifts towards net buy side demand.
• 3:10
  Again, it's been, we've been covering this all year long, the
• 3:13
  whales, the Ogs, people that have been in Bitcoin for a long
• 3:17
  time have been moving coins to the exchanges.
• 3:20
  A lot of coins that people thought were never going to move
• 3:22
  again ended up moving this year. And there is a, a very clear
• 3:27
  trend why they are are moving, why they're waking up.
• 3:31
  And it is the institutions, it is the Wall Street products,
• 3:34
  it's the I I bet ETF, etcetera, etcetera.
• 3:37
  That's that's where this is being pinpointed at.
• 3:39
  So again in a December 16th report, so yesterday, K-33 head
• 3:44
  of research noted that supply held an unspent transaction
• 3:47
  outputs older than two years has been in steady decline since
• 3:51
  2024 with about 1.6 million Bitcoin or roughly 138 billion
• 3:56
  at current price. Prices reactivated over that
• 3:59
  period, signaling sustained on chain selling from early
• 4:03
  holders. Now, are they selling out or are
• 4:07
  they essentially transitioning that into these ETFs into these
• 4:12
  corporate treasuries? I think it could be a little bit
• 4:15
  of both, obviously, but the scale of the decline points to
• 4:18
  meaningful distribution rather than purely technical movements,
• 4:22
  which I think is one of the big signs here.
• 4:25
  A lot of people have been saying oh, you know, all the O GS are
• 4:28
  selling out. I've I've seen a lot of bears on
• 4:30
  Twitter basically say like, oh, actually people in the chat too.
• 4:33
  Someone was saying it yesterday. It's like, look at all the O GS
• 4:36
  selling Bitcoin. Isn't that signal that you
• 4:40
  should get out to look your exit liquidity?
• 4:42
  It's super obvious at this point that you exit liquidity.
• 4:46
  And obviously the data is not so black and white.
• 4:50
  Yes, there are probably some OG holders that are selling Bitcoin
• 4:55
  for just pure profits. They're just like, yeah, just
• 4:58
  give me the dollar amount. But a lot of it also is rolling
• 5:01
  into these Wall Street institutional vehicles, which is
• 5:03
  what I've been telling you for a while.
• 5:05
  So again, the fact we are essentially holding up where we
• 5:09
  are, I know it's been fluctuating a little bit between
• 5:11
  100, what, 120 and 80 K at this point.
• 5:15
  But I, I still think this is very healthy for the market.
• 5:18
  And they said it themselves here, it is a meaningful
• 5:22
  distribution rather than a purely technical movement,
• 5:25
  meaning it's going from old holders to new holders.
• 5:29
  And it's one of the things I've been telling you guys.
• 5:31
  The new holder, the new investor, quote UN quote into
• 5:34
  the space is these Wall Street institutions that are literally
• 5:38
  telling you we want to hold this for the long term, that they're
• 5:42
  not just in it for the short term.
• 5:44
  Yes, obviously there are some short term traders within all of
• 5:48
  this new institutional capital, but many of them are essentially
• 5:52
  following the Michael Saylor playbook, which is, hey, we want
• 5:55
  to hold this forever. We never really want to sell
• 5:57
  this anyways. Going further, while some early
• 6:00
  reactivations can be attributed to factors such as Grayscales
• 6:03
  Bitcoin Trust converted from a closed ended product to an ETF,
• 6:07
  wallet consolidation and security related address
• 6:10
  upgrades, he argued those explanations do not fully
• 6:13
  account for the magnitude of supply coming back into
• 6:16
  circulation. Which is one of the things that
• 6:19
  we've been seeing all year long. A lot of really old coins have
• 6:23
  been spent a lot of the old UTX OS that a lot of people thought
• 6:26
  were gone from 20/11/20 14. Even some from 2010 realize hey,
• 6:32
  there was just some OG Bitcoin holders that been holding this
• 6:35
  forever and now this 100K is the price point again.
• 6:39
  I've been telling you guys that yes, we've been in Bitcoin for a
• 6:42
  while. Yes, you know, we, we did the
• 6:45
  whole roller coaster. Yes, 100K was like a, a pivotal
• 6:49
  moment for all of us. For the new entrance, 100K is
• 6:54
  their starting line. That is where the race started
• 6:56
  for them. And so while there's been a lot
• 6:59
  of old holders, OG whales that looked at 100K as basically like
• 7:04
  their $1 million price point, the new entrants coming from
• 7:08
  Wall Street, from these institutions, sovereign wealth
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  funds, etcetera, look at 100K as the beginning.
• 7:13
  So maybe the 100K is there 10K or maybe 100K is there $1000
• 7:18
  Bitcoin because they're all seeing these projections.
• 7:21
  They're all listening to Sailor basically say, hey, we're going
• 7:24
  to 10 million in 10 years. So they're like, this is the
• 7:27
  starting point. This is the beginning of what is
• 7:30
  going to be a generational asset.
• 7:33
  So it's very interesting when you look at the data it it's
• 7:36
  saying what I've been saying on the show for a minute.
• 7:40
  This year is, is different. OK, I know I say it, I hate to
• 7:45
  say it, but let's be honest, the year is basically over.
• 7:48
  I think we can all admit that this year was different.
• 7:51
  Things have changed. There's a whole new variable in
• 7:53
  the Bitcoin market. There's a whole new variable in
• 7:56
  the Bitcoin accumulation game and it is coming from the
• 8:00
  institutions. Anyways, the long term
• 8:02
  distribution reshapes Bitcoin ownership which is is going on.
• 8:06
  This is This is why I personally think that the old kind of
• 8:10
  dynamics of Bitcoin going up every four years, you know, 3
• 8:14
  green one red is starting to change because there is a new
• 8:17
  holder of Bitcoin. And they do think of this
• 8:20
  differently. They do have various, you know,
• 8:23
  Wall Street trader algorithms that they used to accumulate
• 8:27
  things. If they look at this as as
• 8:29
  sailors been saying, you know, Manhattan land, then obviously
• 8:34
  the games are going to play be played out.
• 8:36
  There's going to be some manipulation.
• 8:37
  There's going to be some some ways to scare you out of your
• 8:39
  bags. And if you're selling right now,
• 8:41
  which is what's going to be revealed right here, you're
• 8:44
  selling it to these institutions.
• 8:46
  You're selling it to the biggest asset managers in the world, the
• 8:49
  sovereign wealth funds of the world and essentially the very
• 8:53
  people that Bitcoin really was out set out to disintermediate,
• 8:56
  which is why I've been so, so, so, so hard on the idea that you
• 9:02
  need to be taking your Bitcoin into self custody right now.
• 9:05
  That's the most important thing going on.
• 9:06
  Anyways. The report highlights 2024 and
• 9:09
  2025 is the second and third largest years for long term
• 9:13
  supply reactivation in Bitcoin's history, surpassed only by 2017.
• 9:19
  Now think of this. Obviously 2024, we saw what
• 9:23
  happened in 2024. We've obviously seen what's
• 9:25
  happened in 2025, hence why the the price went basically
• 9:29
  sideways all year long. But this, we haven't seen
• 9:32
  anything like this since the 2017 TOP.
• 9:34
  And remember what happened to the 2017 top we hit 20K went
• 9:38
  into a prolonged bear market for a few years, finally reclaimed
• 9:42
  20K. Now I think what is
• 9:45
  fundamentally different here is in 2017 it was just retail.
• 9:49
  That's when I got in. I was one of those those, you
• 9:52
  know, accumulators at that point I saw 20K was like, Oh my God,
• 9:57
  super cycle coming. It absolutely got devastated in
• 10:00
  the bear market and it it gave us time to accumulate.
• 10:04
  Now I think this time is a little different where I'm not,
• 10:08
  I'm not so convinced that we are going to go into a prolonged 80%
• 10:15
  two year bear market. It looks like we might be
• 10:18
  building a bottom right now. My trend line is getting
• 10:21
  wrecked. My magic lines on the chart are
• 10:24
  getting wrecked right now. But it does seem to be holding
• 10:26
  up around that 82 K part right now, which to me is signaling
• 10:31
  that there is a a lot of buyers right now.
• 10:33
  There is a lot of interest. They they can't really push the
• 10:36
  price too much lower right now. And so again, the dynamics are
• 10:41
  shifting here. Now what are these dynamics,
• 10:43
  which is what I keep saying in the 2017 cycle or in earlier
• 10:48
  cycles, it was driven by altcoin speculation, ICO participation
• 10:53
  and quote protocol incentives. The current wave, though,
• 10:57
  reflects direct selling into deep liquidity created by US
• 11:01
  spot Bitcoin ETFs and substantial corporate treasury
• 11:05
  demand. Again, a fundamentally different
• 11:08
  dynamic is playing out. It's not that the the sell off
• 11:12
  is because of speculation and greed and trying to go into IC
• 11:17
  OS and I alt coins and get more Bitcoin on top of that, it's
• 11:21
  going into these ETFs, these corporate Bitcoin products.
• 11:26
  It's Wall Street induced, you know, gains that they're kind of
• 11:31
  telling everyone that they can do.
• 11:32
  It's like, hey man, you know, transfer your Bitcoin for these
• 11:37
  ETFs, we'll give you some perks or hey, you know, maybe the new
• 11:40
  ICO kind of altcoin bubble was the Bitcoin treasury play right
• 11:44
  now. I've been saying that it does
• 11:46
  look like that's the case. Is that going to necessarily
• 11:51
  kind of put us into a bear market like we saw in 2017 or
• 11:55
  2021? I don't really think so, because
• 11:57
  it does look like the altcoin markets are just absolutely like
• 12:01
  they're, they're non existent. Yes, people are playing in the
• 12:04
  casino, but if you're looking at what these altcoins have done,
• 12:07
  they're getting absolutely devastated.
• 12:09
  So it does look like most of the attention in this industry is
• 12:14
  fundamentally focused around Bitcoin.
• 12:16
  Obviously the Wall Street products, yes, there are some
• 12:19
  Wall Street shit coin products, but the majority of the interest
• 12:23
  from people that want to accumulate something that is an
• 12:26
  alternative is mainly being directed to Bitcoin.
• 12:30
  That's just what the data is showing us.
• 12:32
  That's just what is going on. And of course, there was a lot
• 12:35
  of interest into the Bitcoin treasuries that did kind of play
• 12:39
  out as the, I don't know, the speculative altcoin kind of
• 12:43
  vibe. And it's not to say that I don't
• 12:46
  necessarily believe that some of these Bitcoin treasury companies
• 12:49
  are a good play, a long term play, not a viable business.
• 12:52
  I think that's probably what the fundamental difference is
• 12:55
  between the Bitcoin treasury play versus just like a pure
• 12:58
  altcoin speculation. It's like there there's no
• 13:01
  future in the altcoins. And you could call me, you know,
• 13:03
  Bitcoin Maxi, a Bitcoin purist all you want, but that that's
• 13:07
  just the truth of it. The the only point for an A shit
• 13:10
  coin is to take your Bitcoin. Shit coiners don't not like
• 13:15
  Bitcoin, they just like your Bitcoin more.
• 13:17
  Now, you could argue that the Bitcoin treasury plays or
• 13:20
  something similar, but I do think that there is, I don't
• 13:24
  know, a market niche for this. As long as Fiat and Fiat debt is
• 13:30
  going to maintain and be alive, then I think these Bitcoin
• 13:33
  treasury plays are most likely going to survive.
• 13:37
  Now I know some are getting really beat up right now.
• 13:39
  So you know, at this point I'm glad I just I realized 42 IQ,
• 13:44
  I'm going to just hold Bitcoin. I'm cool with that.
• 13:46
  Yes, maybe I missed some gains, but I'm also not losing, you
• 13:50
  know, 99% of my. Bitcoin in these treasury plays.
• 13:55
  It's absolutely crazy. Anyways, the report does go on
• 14:00
  and say that, you know, there has been a lot of really big
• 14:04
  holders that sold most famously that 84,000 Bitcoin, or rather
• 14:08
  it was 80,000 Bitcoin transaction by Galaxy.
• 14:11
  It was like what like one point, something billion dollars that
• 14:15
  was sold in a single transaction and the market basically ate it
• 14:19
  up. It's it's just crazy.
• 14:21
  It's absolutely crazy. Right.
• 14:23
  What? What?
• 14:23
  Happened this year, even though we didn't see the price do what
• 14:27
  everyone thought it was. I'm always reminded of, and this
• 14:31
  was before my time. I actually came in right after,
• 14:33
  but the bear well scenario they sold I believe it was like 20-30
• 14:38
  thousand coins and that absolutely tanked the Bitcoin
• 14:42
  market. We've sold 4 million.
• 14:46
  Well, not us, but the market has has digested 4 million Bitcoin
• 14:53
  being sold the last two years. 20% of the Bitcoin supply has
• 14:58
  been absorbed by someone out there.
• 15:01
  Maybe it's not just one particular person obviously, but
• 15:05
  that's a lot of Bitcoin to be absorbed and bought up.
• 15:08
  And I think we all know where it's coming from institutions,
• 15:12
  the whether it's the ETF, whether it's a Bitcoin treasury
• 15:15
  play, whether it's sovereign wealth funds, whether it's
• 15:17
  nation states acquiring silently, maybe it's the US,
• 15:22
  they're doing some stuff, who knows.
• 15:24
  But we have seen a lot of Bitcoin being bought up.
• 15:28
  So while this could be one of those headlines where you're
• 15:32
  like, man, why would the whales sell 4 million coins?
• 15:37
  Don't this, don't they believe in this Bitcoin thing?
• 15:39
  Like why would they do this? What are the incentives for
• 15:41
  this? Obviously if you if you're
• 15:44
  sitting on thousands of coins, 10s of thousands of coins
• 15:48
  sitting on, you know, a billion dollars in Bitcoin, you probably
• 15:53
  want to realize some of that to change your life.
• 15:55
  Can't really hate on them. You can't even really blame
• 15:58
  them. It's like, yeah, this wealth is
• 16:00
  good. But until we get to a point
• 16:02
  where everyone is using Bitcoin as money and you can literally
• 16:05
  just live your day-to-day and be a normal high net worth
• 16:09
  individual, then you see the use case for these products.
• 16:15
  Now the flip side, what's interesting is you know Bitcoin
• 16:19
  got to all time high with very bad macro factors, macro
• 16:25
  indicators behind us like the economy is not doing that good
• 16:28
  overall globally and. It's still.
• 16:31
  Held up 100K even though 4 million coins have moved.
• 16:36
  This just shows me how resilient Bitcoin actually is, how big and
• 16:41
  liquid Bitcoin actually is. This to me is pretty bullish.
• 16:45
  Even though the year 2025 in price terms, you could kind of
• 16:49
  call it like a lost year. It's it's kind of, you know,
• 16:51
  it's literally a null year at this point.
• 16:54
  It's a negative year. But if we do maintain kind of
• 16:57
  that, what was it like 93 K by the end of the year and it's
• 17:01
  just a flat 0 on the year in gains.
• 17:05
  I think this is a healthy kind of redistribution.
• 17:07
  Like it said, a distribution phase, not necessarily people
• 17:11
  losing face, face in Bitcoin. It's just rolling over from old
• 17:15
  holders into a new holder, which is what I've been telling you
• 17:19
  guys. Institutions are running this
• 17:20
  game right now. Retail has been getting cooked.
• 17:24
  That's just what's happened this year.
• 17:26
  Well, some of my friends are trying to trade this thing.
• 17:30
  They're selling their Bitcoin. They're selling it to Larry
• 17:34
  Fink, Jamie Dimon, sovereign wealth funds, nation states.
• 17:38
  It's not the time to be selling your Bitcoin.
• 17:41
  That's what the dad has been showing me all year long.
• 17:44
  I will kind of cover one last thing and then I'll, I'll rant a
• 17:48
  little more. So here actually just the, the
• 17:52
  very end. So looking ahead, excuse me,
• 17:55
  K-33 expects sell side pressure to ease with 20% of Bitcoin
• 17:59
  supply reactivated over the past two years.
• 18:02
  We expect on chain sell side pressure to approach saturation,
• 18:07
  which I think basically what they're saying is like they're
• 18:09
  going to be exhausted. There's not that much more coin
• 18:11
  to be sold. We're going to get kind of, you
• 18:14
  know, a level off point pretty soon.
• 18:16
  They expect it's going to be either early 2026 or it's
• 18:20
  probably wrapping up right now towards the end of the year.
• 18:23
  Of course, he predicts that Bitcoin's two year supply will
• 18:26
  end it's downtrend and close 2026 above its current level of
• 18:30
  roughly 12.16 million Bitcoin as selling from early holders
• 18:33
  subsides and net buy side demand emerges, which is kind of the
• 18:38
  underlying theme I've been seeing.
• 18:40
  It's like, yes, there's been a lot of selling, but the fact the
• 18:43
  market hasn't been tanked like you'd expect it to be just shows
• 18:47
  you that there's a lot of buying going on.
• 18:50
  And I think that is the signal. There's a lot of buying going on
• 18:54
  from a lot of very powerful, very deep pockets and they want
• 18:57
  to hold this long term anyways. They also highlighted potential
• 19:01
  portfolio rebalancing effect as the current quarter draws to a
• 19:04
  close. Historically, Bitcoin tended to
• 19:06
  move in the opposite direction of the prior quarter earlier in
• 19:09
  a new quarter, with the cryptocurrency having materially
• 19:12
  underperformed other asset class in Q4.
• 19:14
  He said rebalancing by managers with fixed allocation targets
• 19:17
  could support inflows into late December and early January,
• 19:22
  similar to dynamics we've seen in September and October, though
• 19:26
  he did caution. Usually when this happens it
• 19:29
  does kind of mark a top here, so not so.
• 19:32
  Bullish, but he's like. Hey.
• 19:34
  This cycle differs though. This.
• 19:36
  This one's different though. He's like, yes, in the past
• 19:39
  usually marks kind of a local top, not necessarily a local
• 19:42
  bottom, which seems to be what we're holding on to right now.
• 19:46
  But he's also making the case or K-33.
• 19:49
  It's also making the case that this time is different because
• 19:53
  of the growing integration with mainstream finance, including of
• 19:57
  course the ETF, these advisory platforms, of course, the clear
• 20:01
  regulatory frameworks which could support a more durable
• 20:05
  demand backdrop once distribution pressure phases.
• 20:08
  So it's not that this is actually that surprising.
• 20:13
  I've been saying essentially this all year long, but when I
• 20:17
  said it the first time, I was like literally like, I'm the
• 20:20
  source bro. Like you know, and guys are like
• 20:23
  Opti, where are you getting this information?
• 20:24
  I'm like, I don't know man, I'm just looking at the data.
• 20:28
  I'm just looking at what the what is going on currently.
• 20:31
  I'm trying to think in fundamentals, you know, first
• 20:33
  order principles here and I'm starting to see the 2nd order
• 20:36
  effects and I'm like, this is what seems to be happening.
• 20:40
  Then you look at all the big transactions that happened and
• 20:43
  you're like, man, there's been a lot of selling, but you'd expect
• 20:45
  Bitcoin to drop a lot lower if there wasn't this unlimited bid.
• 20:50
  Now the interesting part about an unlimited bid that we
• 20:53
  basically saw all year long is that it is quiet.
• 20:57
  It was subtle. You'd expect if someone came
• 21:00
  into the market and bought billions of dollar like Sailor's
• 21:02
  been buying what a billion every week, you'd expect Bitcoin to
• 21:06
  pump. You'd be like, yo, how it one of
• 21:08
  course, paper Bitcoin summer everyone's like they're not
• 21:11
  actually buying Bitcoin. But I think what you got to
• 21:15
  understand is like they are algorithmically acquiring
• 21:18
  Bitcoin so as to not move the markets or they're buying it off
• 21:22
  OTC desk, which necessarily doesn't move the markets on the
• 21:26
  public exchanges. So they're doing this very
• 21:29
  silent bid on Bitcoin as a ton of coin is selling into it.
• 21:34
  Yes, they're able to kind of move the price down a little
• 21:36
  bit. Yes, there's been some kind of
• 21:38
  price manipulation. Yes, we covered.
• 21:40
  You know, Jane St. seems to be doing this 10:00 sale, which is
• 21:43
  interesting today guys, I don't know if you watched the price
• 21:46
  this morning. You, you would have, you would
• 21:49
  have kind of got wrecked if you if you did a 10 AM short this
• 21:53
  morning because I don't know if they're listening to us or
• 21:56
  they're finally realizing that the game has been exposed, but
• 22:00
  at the exact time today that you'd expect.
• 22:03
  Bitcoin to dump it did the opposite and it.
• 22:06
  Absolutely ripped. Ripped like 3% and then in the
• 22:11
  next 30 minutes it dumped completely 3%.
• 22:14
  It did a, a, a magnificent Bart this morning.
• 22:18
  So hey, look, I told you yesterday, if you have Bitcoin.
• 22:21
  Or if rather you have dollars on the side.
• 22:25
  That you should buy at 10 AM dude, they they're the market
• 22:28
  makers are listening literally listening to everyone right now
• 22:31
  and they're like, OK, I think someone said in the chat
• 22:34
  yesterday they were like, OK, so if they know this can't they
• 22:37
  wreck us anyways and it's like yeah, obviously but if they if
• 22:41
  they still think that the game wasn't exposed, they would have
• 22:44
  tried to dump it again So what did they do they did the
• 22:46
  opposite they. Pumped it and then they dumped
• 22:49
  it. It's, it's honestly like it,
• 22:52
  it's, it's, it's incredible. It's beautiful.
• 22:54
  Like This is why we say just buy spot leverage.
• 22:58
  Traders are getting absolutely cooked.
• 23:00
  The market makers are trying to confuse retail.
• 23:03
  They're trying to confuse the institution.
• 23:05
  Well, I would argue it's the institutions that are trying to
• 23:08
  confuse Main Street here. They're trying to confuse the OG
• 23:11
  true Bitcoin believers, but man, like clockwork this morning at
• 23:15
  the exact time it did the exact opposite of what everyone was
• 23:19
  expecting it to do, and then it literally dumped right
• 23:22
  afterwards. Which honestly truly masterful.
• 23:26
  This is why I'm telling you guys This is why I am personally
• 23:29
  doing what I tell you guys to do is dude, just buy Bitcoin in
• 23:34
  spot take it into custody, because they are playing games
• 23:39
  with the price right now. And I'm sure you guys have felt
• 23:42
  it all of this year. You felt it in your gut.
• 23:45
  You're I mean, I've seen some of my most bullish friends in the
• 23:48
  chat essentially go from, you know, Opti, you know, buckle up,
• 23:53
  buttercup like don't focus on the prize.
• 23:55
  Do what you tell us go outside. I'm like, dude, I'm just tired,
• 23:58
  boss. Like I look, I'm just
• 24:00
  demoralized at this point. And then a few weeks later
• 24:04
  they're like, I'm tired too often, like.
• 24:06
  I'm so tired right now. So the only winning move.
• 24:10
  Here. Is just do what they're doing in
• 24:13
  the sense they are trying to accumulate for a long term
• 24:16
  position. That is what's happening right
• 24:18
  now yes, they're doing some, you know, some shenanigans here,
• 24:22
  algorithmic trading shenanigans to wreck people with leverage to
• 24:27
  scare you out of your position to basically get you so bored
• 24:32
  that you sell out and look for gains other places.
• 24:36
  But I think all of this is really kind of setting up what
• 24:40
  what I'm really, really believing is going to happen in
• 24:43
  2026. Obviously, you know, I'm still
• 24:46
  on the fence on this, but I'm starting to lean towards all of
• 24:50
  the 2025 foundation year in the price and the institutions and
• 24:54
  all the news is setting up for a 2026 kind of macro bull run in
• 25:00
  general. And they want to get a good
• 25:02
  position. It's becoming very, very clear
• 25:05
  to me that this is what's happening with all the people
• 25:07
  doing research. There's literally in the last
• 25:10
  two days, there's been like 3 research reports dropped
• 25:14
  essentially saying that the, you know, four year cycle is over,
• 25:17
  not necessarily going into a super cycle, but that hey, this
• 25:22
  is fundamentally shifting here because there is a new investor,
• 25:27
  there is a new buyer in the market.
• 25:29
  And they are a, you know, not to disparage everyone here in the
• 25:35
  chat, but they are a little more sophisticated when it comes to
• 25:42
  buying Bitcoin to, you know, acquire this new, this new land,
• 25:49
  acquire this new kind of commodity.
• 25:53
  And if you are trying to play these games, if you are trying
• 25:57
  to, you know, out trade the algorithms, outsmart Wall
• 26:01
  Street, you might be absolutely wrecked.
• 26:04
  And I was trolling yesterday. I did.
• 26:08
  A tweet, because, you know, you guys were giving Nico a lot of
• 26:11
  shit on the show yesterday, and I did a tweet where I was like,
• 26:14
  look. Just 'cause you're bearish
• 26:17
  doesn't make you any less of a bitcoiner.
• 26:19
  Like just 'cause you're bearish right now doesn't make you any
• 26:21
  less of a bitcoiner. It makes you wrong, but it
• 26:24
  doesn't make you any less of a bitcoiner.
• 26:26
  So I'm still holding to my conviction that 2026, I think
• 26:31
  all our models are broken. I think it's becoming very clear
• 26:34
  all our models are broken. That's, that's like the clearest
• 26:38
  thing that that I can say. That's the only real kind of
• 26:42
  solid advice that I could say all year long.
• 26:45
  Like if people were asking me, you know, based on the past,
• 26:48
  what do you think Bitcoin's going to do?
• 26:49
  And I'd be like, well, this is what it's done.
• 26:53
  But as of now, excuse me, guys, I, I ate some blueberries and I,
• 26:57
  I keep keep choking over here. Anyways, like I said, so if
• 27:03
  someone asked me what's going on in the past, you could very
• 27:06
  easily kind of give them a blueprint of what's going to
• 27:09
  happen this year, or rather, after this year.
• 27:14
  It's very hard to really kind of give someone a main mental
• 27:18
  framework of what's going to happen in the short term, which
• 27:21
  is why I think, you know, we really have to kind of figure
• 27:25
  out a way to show people like, hey, this, this isn't, you know,
• 27:31
  get rich quick scheme. Like this isn't a thing that
• 27:34
  you're going to hold for a year or two, be able to flip it.
• 27:37
  It's like this is a long term accumulation game and that's the
• 27:41
  only way to play this. If you're playing this any other
• 27:43
  way, you're going to get absolutely wrecked.
• 27:46
  And we said this in Bitcoin forever, you know, like this
• 27:49
  lower your time preference. You know, this is a not a get
• 27:53
  rich quick scheme. It's a not get poor scheme.
• 27:56
  You know, this is a generational asset.
• 27:59
  This is generational wealth. We've been saying this for a
• 28:02
  long time, but when we said that, we always had kind of the
• 28:06
  ability to give them a blueprint or a framework of what was going
• 28:11
  to happen it with the Bitcoin price, all of that.
• 28:14
  I think at this point thrown out out of the window, we really
• 28:18
  have no clue. All the models are broken.
• 28:20
  Everything you think you know about Bitcoin, I think we need
• 28:23
  to reevaluate. And you guys see me do this on
• 28:25
  the show all year long, where I was very convinced of what
• 28:30
  Bitcoin was going to do. Sorry guys.
• 28:35
  Well, you guys are funny. What color does off the sea is
• 28:37
  blueberry. They're they're blue dude.
• 28:39
  They're blueberries. It's literally in the name
• 28:41
  blueberry. Anyways, damn I lost my train of
• 28:46
  thought that was a good. Comment.
• 28:49
  But I think from here on out, we're going to see kind of the
• 28:54
  market structure change a little bit.
• 28:56
  I think this is just the inevitable outcome.
• 28:59
  And I was kind of looking back at the Bitcoin price because
• 29:03
  I've been telling you guys for a little bit that ever since the
• 29:06
  ETF was launched, it does feel like the market structure has
• 29:11
  changed. Hence why I'm more convinced
• 29:12
  that we're just going to see kind of these 30% drawdowns
• 29:15
  maybe go sideways and then RIP again because we've seen three
• 29:18
  of them happen since 2024. But you know, 2023 was kind of
• 29:23
  when the the absolute bottom was.
• 29:25
  And then we kind of going on, on wait on this like straight up
• 29:28
  and to the right. And it really does remind me of
• 29:31
  just what's what the S&P 500 looks like.
• 29:35
  S&P 500 just goes up like steady.
• 29:38
  Yes, there's some pullbacks when crazy things happen, but it does
• 29:42
  look quote UN quote, you know, manipulated price action.
• 29:46
  I think the, I think that's what Bitcoin's going to do until
• 29:49
  really there's enough people holding it and they're not
• 29:52
  trading it and they're not looking to the institutions for
• 29:55
  them to hold it. I think they're the ones fully
• 29:58
  in control. But by, you know, I got what?
• 30:01
  Well, actually I think this I got a couple days 'cause I am
• 30:06
  going to take Christmas, Christmas break off guys.
• 30:08
  So, you know, you're stuck with me for a few more days and then
• 30:11
  you guys are going. To have to bite the bullet.
• 30:13
  I'm I'm going home. Hanging out with the fam for
• 30:15
  Christmas. I get a little break finally,
• 30:18
  but it's I think it's just the truest thing we could say about
• 30:22
  the Bitcoin price. The Bitcoin market right now is
• 30:25
  2025 changed everything and that's something we have to wrap
• 30:29
  our heads around. That's something we do have to
• 30:31
  update our mental models for, like what can we look to to
• 30:36
  explain where Bitcoin is? Obviously I don't have that to
• 30:40
  point to you 'cause there's really nothing else that's been
• 30:43
  like Bitcoin. But I think we do know
• 30:45
  eventually, you know, it's going up forever.
• 30:48
  This is the way. 21 million hard cap, there's a lot of liquidity
• 30:51
  on the table. Money printer's about to go up.
• 30:53
  The the long term bullish take is the same it's ever been.
• 30:58
  There's what, 1 quintillion, I believe, you know, 1000 trillion
• 31:02
  dollars of wealth in the world. A lot of Bitcoiners think half
• 31:05
  of that's going to go into Bitcoin.
• 31:07
  Maybe you're not that bullish because maybe you think only
• 31:10
  portions of that's going to go in, that's still, you know,
• 31:13
  Bitcoin going to $100 trillion market caps, maybe more.
• 31:18
  Even if it just goes to a 50 trillion market cap, the upside
• 31:22
  is still the same. In my opinion.
• 31:23
  The the thesis is still the same.
• 31:26
  This is something you want to hold for the long term.
• 31:28
  It, it is the ultimate store value.
• 31:30
  Nothing else comes close to that.
• 31:32
  And I think at a certain point we will see it be used as money
• 31:35
  anyways. Wow, what a RIP.
• 31:38
  OK, let me let me see. Let me see you guys saying
• 31:41
  anything in here. I don't know, I don't know.
• 31:44
  Let me see new all time high by spring next of 2026 guaranteed
• 31:48
  the end of Jerome Powell means return of 0 interest rates
• 31:50
  compete complete with insane inflation.
• 31:53
  Yeah, I would I would pretty much agree with that anyways,
• 31:56
  moving forward guys, there was an interesting clip coming out
• 32:01
  of Bloomberg kind of explaining the same thesis, but from a
• 32:05
  sovereign wealth fund perspective.
• 32:07
  A huge, huge kind of announcement happened yesterday
• 32:10
  and then in the news we're we're starting to see the the
• 32:14
  political drama around Trump and Bitcoin intensify.
• 32:21
  Got an interesting, interesting post coming out of Gavin Newsom.
• 32:26
  And then we do have James coming on from stamp seed later on in
• 32:29
  the show. So let me keep this move in.
• 32:31
  Let's keep this flow in. Of course, I want to remind you
• 32:35
  to smash the like button comment on this episode.
• 32:37
  Tell me what you think about the show.
• 32:38
  Tell me what you think about simply Opti and of.
• 32:41
  Course, hit the subscribe button, we're dropping the best
• 32:43
  content on YouTube. Period.
• 32:45
  Anyways, on that note, I do want to talk about our partner
• 32:49
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• 32:51
  bitcoinwell.com/simply or scan the QR code right here when you
• 32:56
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  That's why we partnered with them.
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  Anyways, on that note, quick commercial break and we'll be
• 33:36
  right back. I want to give a shout out to
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  our partner Stamp Seed. Is your Bitcoin and cold storage
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• 34:56
  Yeah, yeah, yeah, I like this comment.
• 34:58
  Shouts out X Sean, you guys are bears. 2025 isn't over yet.
• 35:02
  Christmas will come, dude. Santa rally.
• 35:05
  Santa rally. Let's go.
• 35:07
  There's still hope for Santa rally.
• 35:09
  You know, Bitcoin does run usually in 10 to 12 days.
• 35:12
  Hey, we we still got a couple more 10 to 12 days run left in
• 35:15
  this year. Loved it.
• 35:17
  Loved. It hey, I loved how you guys are
• 35:19
  still bullish out there because you know me, I I'm still
• 35:21
  bullish. You know, it is what it is.
• 35:24
  It's my character flaw anyways. The current Bitcoin.
• 35:26
  One point price is 86,580. It did, interestingly enough,
• 35:31
  get over 90K for a little bit and then like I said, it dropped
• 35:35
  right back down to where. It started anyways.
• 35:38
  This is a 31.4% discount from all time high or you know,
• 35:42
  decline from all time high. And the market cap, wow, $1.73
• 35:46
  trillion. Absolutely crazy that we were at
• 35:48
  like, I don't know, 2.25 trillion for a while there
• 35:52
  during this year. Now we can't even get back to 2
• 35:56
  trillion. It's crazy.
• 35:57
  Anyways, the buck height is 928,303.
• 36:02
  So I do want to talk about this because it does kind of go into
• 36:08
  exactly what the initial report was from K 33 is that there is a
• 36:14
  new buyer and Bloomberg just did this clip here where they're
• 36:18
  talking about Abu Dhabi sovereign wealth fund buying
• 36:21
  Bitcoin, tripling their holdings in the Bitcoin ibit ETF.
• 36:26
  But what's interesting is how they are thinking about this.
• 36:29
  And I think this is the greater trend we've seen throughout the
• 36:32
  year that it's no longer yes, there's still some holdouts like
• 36:36
  specifically Vanguard. They, they still call Bitcoin
• 36:39
  like a digital toy. They, they said, you know,
• 36:41
  Bitcoin is a digital Labooboo, which I just think is hilarious.
• 36:44
  Maybe I just like to say Labooboo I I.
• 36:46
  Never. I've never actually even seen
• 36:48
  one in person, but I know it's all the trend amongst amongst
• 36:51
  the kids right now. So there's still some holders or
• 36:54
  some holdouts on the idea that Bitcoin is just a digital
• 36:58
  speculative tool or toy, how they kind of frame it.
• 37:02
  And then there's the other side where they're looking at Bitcoin
• 37:07
  as more of a structural long term, you know, wealth changing
• 37:13
  asset money, however they want to frame it, they're looking at
• 37:16
  it completely different. They're like, no, this is going
• 37:20
  to be part of our portfolio and not just part of our portfolio,
• 37:24
  but like the bulk, the the centerpiece of our portfolio.
• 37:29
  And this is where I'm like, yo, like.
• 37:31
  This just this. Just makes me not only bullish,
• 37:34
  but it just knows that Bitcoin is maturing, that the thinking
• 37:38
  around Bitcoin, some of these sovereign wealth funds are
• 37:40
  sounding like full bulltard Maxis, the way they talk about
• 37:44
  Bitcoin. So let's hear this Bloomberg
• 37:46
  clip. And specifically, usually when
• 37:50
  you hear about Bitcoin on mainstream media, corporate
• 37:53
  press, even when people are making moves into Bitcoin, it
• 37:57
  does have this like negative connotation.
• 38:00
  This is not what you're hearing. They're they're like wrapping
• 38:02
  their head around the fact that they are so bullish on Bitcoin.
• 38:05
  So let's play this and then I will chat a little more about
• 38:08
  it. You know, in terms of their
• 38:11
  holdings and when they added to this position.
• 38:15
  Yeah. So you can see that they've more
• 38:17
  than tripled their position right in the weeks and months up
• 38:20
  to the sell off. So you know, I hit a record high
• 38:23
  in October and we can see that they've tripled their position
• 38:26
  during the third quarter. They disclosed a position at the
• 38:30
  end of September that was worth around $520 million.
• 38:34
  And we can see that this is really going to be a part of
• 38:36
  their portfolio going forward. They're saying that they want to
• 38:38
  diversify it and they really see it as the digital equivalent of
• 38:41
  gold. And by the way, I should correct
• 38:43
  myself, I meant as a half a billion dollars, not half a
• 38:45
  trillion. That would be tremendous.
• 38:47
  But been getting back to you in London when it comes to the Abu
• 38:51
  Dhabi Investment Council. Just give us a sense of how this
• 38:55
  holding a Bitcoin fits in with their overall portfolio.
• 38:58
  What is their investment strategy?
• 39:00
  Yeah, sure. So do an invest to do an
• 39:03
  investment unit of Mubadala. They're kind of run separately.
• 39:06
  But this really seems to be part of the overall strategy by Abu
• 39:09
  Dhabi and the United Arab Emirates more generally to
• 39:13
  become a hub for crypto as well as just to really become a
• 39:16
  player in the markets. You can see that Mubadala itself
• 39:19
  also has significant holdings in Bitcoin ETFs.
• 39:23
  They've set up new funds such as MGX that have done deals with
• 39:27
  crypto exchanges like finance. And you can really see that, you
• 39:31
  know, they see this as an important long term
• 39:33
  diversification play. And how significant would you
• 39:36
  say Abu Dhabi Investment Council's move into the crypto
• 39:39
  sector is not just for this entity, but for the region at
• 39:43
  large? Yeah.
• 39:45
  Well, look, it really gives a growing legitimacy.
• 39:48
  You know, there's been a lot of questions about, you know,
• 39:50
  institutional interest in it. Is it here to stay or is it just
• 39:53
  a fleeting thing? You know, we do see a lot of
• 39:56
  sell offs in the Bitcoin ETFs recently as investor sentiment
• 40:01
  has turned. But it looks like the Abu Dhabi
• 40:03
  Investment Council is going to be in it for the long term.
• 40:05
  And this just really gives it legitimacy when you know a state
• 40:08
  owned fund by one of the richest countries is plowing some of the
• 40:12
  reserves. Money into this, you can see
• 40:16
  that this is something that they really believe in.
• 40:18
  Right. I think most people have heard
• 40:19
  of Mubadala. What you mentioned is the
• 40:21
  sovereign wealth fund. What exactly is the relationship
• 40:23
  between the Abu Dhabi Investment Council and Mubadala?
• 40:26
  I know that you said it's a unit of it, but how did that develop
• 40:30
  overtime? Yeah, sure.
• 40:32
  I'm so they used to be a separate state owned fund.
• 40:35
  They're mostly invested in private markets, particularly in
• 40:38
  North America. They've since been trying to
• 40:40
  diversify. A few years ago, just to sort of
• 40:43
  simplify the management, they were folded into Mubadala, but
• 40:46
  they're still run very separately.
• 40:49
  You know, they have their own investment strategy that's
• 40:51
  different from the rest of Mubadala and but you can see
• 40:54
  that both of them and their ultimate parent company, they're
• 40:57
  both very interested in crypto and are looking for ways that
• 41:00
  they can play this. Absolutely crazy.
• 41:04
  Like it. It's something that we've been
• 41:08
  saying and not just us here at the show, but like Bitcoiners
• 41:11
  have been saying for the longest time that Bitcoin should be like
• 41:15
  the centerpiece of your portfolio.
• 41:18
  And you can tell from this clip here that without saying it, he
• 41:22
  basically said like, yeah, Abu Dhabi, the Middle East is
• 41:25
  starting to look at Bitcoin in almost the same way that
• 41:29
  Sailor's been looking at Bitcoin like this is a digital land
• 41:32
  grab. Now, I know the the metaphors,
• 41:35
  the analogies, they they do get lost on a lot of people, but I I
• 41:39
  think that's one of the best kind of explanations of what's
• 41:42
  going on here. They're like, no, they're in
• 41:44
  this for the long term. They want to accumulate a lot
• 41:48
  and it just goes into what I've been telling you.
• 41:50
  Just do the same thing. Like you don't have to do
• 41:53
  exactly what they do, but you do need that fundamental framework
• 41:57
  in your head of this is a generational land grab.
• 42:02
  And what's, what's Sailor is generational land grab in
• 42:05
  cyberspace. I, I can't, I, I forget all
• 42:08
  those, but that's what's going on.
• 42:11
  That's what the game they're playing.
• 42:13
  If you're not playing that same game, as I always joked, if
• 42:16
  you're not playing Pac-Man with Bitcoin, if you're not playing
• 42:19
  Hungry Hippo with Bitcoin, just 'cause, you know, I'm a
• 42:21
  millennial and I have a low IQ. But if you're not.
• 42:27
  Playing Hungry Hippo with Bitcoin, you're really playing
• 42:30
  the wrong game. Especially now that the deepest
• 42:33
  pockets, the biggest institutions, the wealthiest
• 42:37
  wealth managers in the world are literally looking at Bitcoin,
• 42:41
  chomping at the bits like I need to accumulate as much of this as
• 42:45
  possible. This is going to be the corner
• 42:47
  piece of My Portfolio from here on out.
• 42:50
  Just shows you the game is different.
• 42:52
  And if you are trading right now, maybe.
• 42:56
  I mean, look, if you're a pro trader, then obviously disregard
• 42:59
  this, you're probably not watching the show.
• 43:01
  But if you are a Bitcoiner trying to, you know, trade the
• 43:05
  market right now, it really just kind of reminds me of that
• 43:09
  saying like, you are grabbing pennies in front of a
• 43:11
  steamroller And I'm, I just don't want to see my friends
• 43:16
  lose their shirt right now, lose their position because they're
• 43:19
  thinking, oh, Bitcoin's working on the same mechanisms it has in
• 43:23
  the past. And I'm like, look, I could be
• 43:25
  seeing into this in a certain way.
• 43:28
  Obviously, I do have my bias. I wear it on my sleeve.
• 43:31
  I I'm always fundamentally bullish and I've been always
• 43:35
  bullish even in the face of bear markets in the past.
• 43:38
  But something about this one does just fundamentally feel
• 43:41
  like things have shifted. And that's like why the safest
• 43:46
  move in my opinion is just like, look, yeah, you could trade
• 43:49
  Bitcoin, maybe it is going into a bear market.
• 43:52
  Yeah, maybe, you know, having some cash on the side if you
• 43:54
  have that is really smart position to be doing.
• 43:58
  But I think just being all in comfy in your position in in
• 44:03
  Bitcoin and then of course, getting cash flow and continuing
• 44:06
  to acquire Bitcoin. I think that's the safest bet
• 44:09
  right now. That's that's what I'm telling
• 44:10
  everyone. That's what I'm doing.
• 44:12
  I think that's the only only way you can do this without having
• 44:16
  to have undue stress on you. Anyways, let me see.
• 44:21
  There's actually a good, good comment in here.
• 44:24
  Where'd it go? Where'd it go?
• 44:25
  You guys are talking too much all right, brand one goes
• 44:28
  Bitcoin is on its way to be the primary store of value for
• 44:31
  nations. The sentiment layer for
• 44:32
  sovereign finance. That's something that bitcoiners
• 44:35
  have been saying forever and it really like it's it's happening
• 44:40
  right now. This is that moment like it is
• 44:43
  coming true. It is no longer just a theory.
• 44:45
  If you listen to all these sovereign wealth funds in nation
• 44:47
  state, that's literally what they're saying.
• 44:50
  And people are like, Nah, like it's, it's going to 30 K.
• 44:54
  I'm like, I don't know what, I don't know what you're smoking.
• 44:57
  I don't know what you're looking at.
• 44:59
  I don't think that's happening. But hey, I, I still got some
• 45:02
  time to be wrong. I also still have some time to
• 45:05
  be right. So deal with that as you will.
• 45:08
  Again, not financial advice. I am not your, your quants guys.
• 45:12
  I know you like to call me your quant.
• 45:13
  I am not your quant, OK? This is just how I view what's
• 45:17
  going on. Again, I could be wrong.
• 45:21
  I won't apologize if I'm wrong. I'll I'll just update my I'll
• 45:25
  update my, my, my mental models. But I think I'm right and you
• 45:30
  know, only time will tell. Only time will tell whether I am
• 45:32
  vindicated or not. All right, guys, one more.
• 45:34
  Commercial break and I'll be right back.
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• 48:08
  All right guys, check it out. We got James with us live.
• 48:11
  Hopefully we got the audio and stuff.
• 48:14
  Working. Are you there?
• 48:15
  Can you hear me? I can hear, you can hear.
• 48:17
  It we got it, we're. Good to go.
• 48:18
  We're good to go. Well.
• 48:19
  James, thanks for showing up today.
• 48:21
  We we are kind of changing the format a little bit.
• 48:24
  We still have to iron out some kinks here, but welcome to the
• 48:27
  show, guys. If you don't know James, you
• 48:29
  know, creator of Stamp Seed. So we're going to be talking
• 48:31
  about Stamp Seed in a minute. But before I do that, we're
• 48:35
  going to dive into the news today.
• 48:36
  So look, I've been telling you, I've been seeing this trend and
• 48:40
  it just went into OverDrive where from a political
• 48:44
  perspective, there has been a lot of partisanship around
• 48:47
  Bitcoin. They're trying to frame it like,
• 48:49
  oh, you know, Megan's obsession with Bitcoin and crypto, you
• 48:53
  know, you know, they're criminals.
• 48:54
  They're they're, you know, using their, their position insider
• 48:58
  trading. And hey, I'm some of that is
• 49:00
  probably true. I'm not going to lie, some of
• 49:01
  that is probably true. But the narrative around Bitcoin
• 49:06
  here, it's really nefarious in the idea that they're, they're
• 49:10
  trying to push people away from Bitcoin, you know, because Trump
• 49:13
  likes it or whatever, Whereas like we kind of view it the
• 49:16
  other way. It's like Bitcoin didn't really
• 49:18
  need Trump. But hey, it's, it's a little
• 49:20
  beneficial if the, you know, president of the United States
• 49:23
  starts to embrace this. And I've been seeing a lot of
• 49:26
  these headlines and I think one just kicked into OverDrive.
• 49:30
  So here's the first one. This came out a couple days ago.
• 49:34
  What was it? Actually?
• 49:35
  It was yesterday. OK, well, my, my, my timing is
• 49:39
  is all cooked. Anyways, this is from PBS.
• 49:41
  And it goes how a Trump business deal with a crypto firm exposes
• 49:45
  potential conflicts of interest. Obviously, you know, as
• 49:48
  Bitcoiners personally, I've been pretty critical of Trump.
• 49:52
  There's been some things that I like when he does something
• 49:54
  good. I'm I'm all for it though.
• 49:58
  There's been a lot of stuff that I'm not the biggest fan of in
• 50:00
  regards to Bitcoin, but here we go.
• 50:02
  So just going to read a little bit.
• 50:04
  Because this isn't. Really what I want to cover, I
• 50:07
  want to cover the latest thing from Newsome.
• 50:09
  So that's what we'll cover. So it goes. crypto.com was under
• 50:12
  siege for more than a year. The firm had been investigated
• 50:15
  by President Joe Biden's Democratic administration pardon
• 50:18
  of aggressive push to regulate the largely unregulated
• 50:20
  cryptocurrency industry. Financial regulators had told
• 50:23
  the company that enforcement action was likely.
• 50:26
  And Donald Trump won the 2024 election, and the company's
• 50:29
  legal perildictatedcrypto.com ramped up spending to a lobbyist
• 50:34
  close to Trump and donated 11,000,000 to political.
• 50:36
  Committees tied to the Republican president.
• 50:38
  Within months, the investigation was dropped.
• 50:40
  By August, crypto.com announced it was plunging roughly $1
• 50:43
  billion worth of assets into a venture with a new partner,
• 50:47
  Trump. Social media company Legal and
• 50:50
  ethics experts say crypto.com's journey from investigating
• 50:53
  target to Trump business partner provides a case study of the
• 50:56
  conflict of interests that have arisen in Trump's second
• 50:59
  presidency. Unlike any of his predecessors
• 51:03
  in the modern era, Trump was a has allowed his family business
• 51:06
  to enter lucrative agreements with companies regulated by the
• 51:09
  federal government, some of which have benefited from action
• 51:12
  taking by his administration. In this instance, they struck a
• 51:16
  deal with crypto.com. You know, we we probably seen
• 51:19
  something similar with Trump and Binance CZ you know, I I'm not
• 51:25
  here. Oh, this one's not good, though.
• 51:26
  It seems like another example of the pay to play administration.
• 51:30
  See like this is where it does kind of get me where it's like,
• 51:34
  look, I I don't think this is anything new.
• 51:37
  Yes, I'm you. You could argue.
• 51:39
  Like it's not a good look at all.
• 51:42
  But I think the, the, the angle here is because it is Bitcoin
• 51:47
  and crypto, it is looked at like, you know what, what do
• 51:50
  they always say? Like a, an index of money
• 51:53
  launderer. They're, they're all calling us
• 51:55
  criminals, but they're saying we're all doing, you know, shady
• 51:58
  stuff. And so this is where I think
• 52:01
  especially since we're going into the midterms and it looks
• 52:04
  like potentially the Republicans are going to lose.
• 52:07
  I think this idea is going to pick up even more.
• 52:10
  They're going to make, you know, Trump's quote and I just 'cause
• 52:14
  it was in the article quote, conflict of interest really put
• 52:17
  a bad kind of taste in voters opinion of Bitcoin and crypto.
• 52:23
  And I think this is only going to heat up.
• 52:25
  I've been seeing this happen all year long.
• 52:27
  I think it's going to increase tenfold going into next year.
• 52:31
  So potentially A headwind here, but another interesting kind of,
• 52:37
  I would say, partisan attack on what Trump's done with Bitcoin
• 52:40
  is this one which, you know, Gavin Newsom just kind of kind
• 52:47
  of messed up here. So Gavin Newsom Press, which is
• 52:51
  the government press office, the official account of California
• 52:55
  Governor Gavin Newsom. You can see he is, I think right
• 53:00
  now he is favored to be the Democratic candidate for
• 53:04
  president, or at least he's trying to build that campaign as
• 53:08
  we speak. It's he seems to be the guy that
• 53:11
  the Democrats are going to push for, you know, trying to, I
• 53:15
  don't know who, whoever the Republicans choose.
• 53:17
  So it seems like they're trying to build that up right now.
• 53:20
  And maybe he thinks this is going to be good for for that
• 53:23
  presidential run anyways, he tweets.
• 53:25
  He goes Ross Olbrich, founder of the Silk Road dark web
• 53:28
  marketplace, which facilitated over over $214 million in
• 53:34
  illegal drug sales. Some of those drugs killed
• 53:36
  people. Trump pardoned him anyways.
• 53:39
  See more over here at Governor California and he Goes.
• 53:44
  Newsome launches website tracking Trump's top 10 criminal
• 53:48
  cronies as new data shows California crime.
• 53:51
  Continues. To dot drop.
• 53:53
  So you see what is going on here now from our perspective as
• 53:58
  bitcoiners, that's like one of the best things Trump did was
• 54:01
  pardon Ross because, you know, they could say all they want.
• 54:06
  The guy just created a website where where a marketplace where
• 54:08
  people can interact with each other in a, you know, a safe,
• 54:12
  voluntary, consensual way. Yes, of course some drugs were
• 54:15
  sold on it. Yes, you can make him look bad.
• 54:17
  Yes, you know, he was in prison, but I think that the narrative
• 54:23
  that we are starting to see evolve here and again, we've
• 54:27
  tried to stay as part or bipartisan as possible on this
• 54:31
  show. We've we've been, I personally,
• 54:33
  you know, Nico, definitely like we've been giving the Democrats
• 54:37
  and of course, they're not a monolith here.
• 54:39
  The benefit of the doubt that they will come around to
• 54:42
  Bitcoin, but it seems like they're digging their heels and
• 54:45
  they might be running a anti Bitcoin, you know, political
• 54:50
  campaign going into the midterm and then of course, going into
• 54:53
  the 2028 presidential run. So, you know, prepare for that
• 54:58
  because I think that's what they're doing right now.
• 55:01
  It's becoming very obvious. They've they've been using the
• 55:03
  media to kind of build that case all year long.
• 55:06
  They're going to make Bitcoin look bad because of what Trump's
• 55:08
  done. Obviously as as a Bitcoiner,
• 55:11
  you're like, look, Bitcoin is bigger than any one person.
• 55:14
  Yes, it was kind of, you know, a monumental moment to see Trump
• 55:19
  embrace Bitcoin, or rather the US president, not just Trump,
• 55:22
  but the US president embraced Bitcoin and claim we're going to
• 55:26
  be the Bitcoin superpower of the world.
• 55:28
  But I'm I'm dude, guys, I've been telling you that I don't
• 55:32
  even remember when I started. I think I, I think I started in
• 55:35
  November when Trump said like, I'm pro Bitcoin.
• 55:39
  I'm like, I see exactly where this is going, guys.
• 55:42
  So look, it's, it's speeding up. It's happening as we speak.
• 55:45
  I won't be surprised if we see more of this in 2026 as again,
• 55:50
  the midterms kind of start to increase and that fervor and the
• 55:54
  campaigning starts to accelerate.
• 55:57
  We might be in for, you know, maybe we have some very good
• 56:01
  macro kind of background tailwinds to push Bitcoin up,
• 56:06
  but we are going to be battling, you know, the public opinion of
• 56:10
  what Bitcoin is, what the Trump administration has done with
• 56:12
  Bitcoin. I think we might get run through
• 56:14
  the mud in the corporate press in 2026 for the midterms.
• 56:18
  And I think that's only going to increase in 2028.
• 56:21
  So look, I'll be covering this. We'll be keeping tabs on what's
• 56:24
  going on around this. But I just I just need to
• 56:27
  continue, continue to plant that idea in your head.
• 56:29
  Like it's coming, guys. Like prepare for it.
• 56:32
  It's not going to be easy. Yes, institutions are embracing
• 56:35
  Bitcoin, but at the same time we, you know, last last election
• 56:41
  we kind of used the political mechanism to seemingly, you
• 56:45
  know, tentatively help. US.
• 56:47
  Now, we might be seeing the opposite, it might be, you know,
• 56:51
  there might be a even even stronger attack than what we saw
• 56:54
  under the Biden administration. So we got to totally be prepared
• 56:58
  for that. Anyways, I've been yapping a
• 56:59
  little too long. James, what's your thoughts on,
• 57:01
  let's do the Gavin Newsom one, 'cause I think you've been on
• 57:04
  the show before where I talked about the media kind of negative
• 57:08
  spin on Bitcoin and Trump. What's?
• 57:11
  What's your thoughts? Seeing Gavin Newsom just go out
• 57:13
  there and be like making Ross look dirty, you know, just
• 57:17
  throwing him under the under the mud here, under the bus, It's
• 57:21
  just like, man, absolutely real. Like, read the room, dude.
• 57:25
  Yeah, no, they just don't care about people like that, Right
• 57:28
  it? He doesn't simply care, just
• 57:29
  trying to get his message across with all the buzzwords.
• 57:31
  And Silk Road is in itself a buzzword for the normies.
• 57:34
  They hear something like that and they think drugs,
• 57:37
  prostitution, all the bad things that are tied to it, the same
• 57:41
  way they do with Bitcoin, right? Like it's used for all these bad
• 57:43
  things, leaving out all the good things it's used for and
• 57:46
  forgetting about how the dollar is used in the same exact way.
• 57:49
  Literally you can do drugs with a dollar as a tool.
• 57:52
  So it's kind of like insane. But I just look at him as, I
• 57:55
  mean, producing like Ross is the bad guy as the layup.
• 57:59
  Easy thing to do. It's the bait that the public
• 58:02
  normies are going to take. It's what the masses are going
• 58:04
  to kind of understand. They still think Silk Road is
• 58:06
  bad. Most people don't understand,
• 58:09
  you know, why Ross got pardoned, what he's doing now, what he
• 58:13
  went through. It's just, you know, it's, it's
• 58:15
  it's kind of like that, that surface level that most people
• 58:19
  are going to even look in the 1st place.
• 58:21
  But I guess Newsom's taking his shots, right?
• 58:23
  He seems like he wants to, you know, run for president, right.
• 58:27
  So yeah, playing The Dirty games like we all expect.
• 58:31
  But overall, with the whole Trump positioning himself with
• 58:35
  Bitcoin, you know, we were all very happy when we heard this,
• 58:38
  when we heard, you know, you'd be at the Bitcoin conference.
• 58:40
  It was like a huge thing. Obviously a lot of great things
• 58:44
  happened last year in 2024, Well towards yeah, we hit the all
• 58:50
  time high two years ago, late 2023, and great things have
• 58:55
  happened since then, right? So we just have all those
• 58:57
  tailwinds behind us. But the headwinds are always
• 58:59
  going to be there. And it's something I sensed from
• 59:01
  the beginning because, you know, he was coming out.
• 59:03
  Trump was coming out with Trump Bitcoin shoes, Trump Bitcoin
• 59:07
  watches, you know, and. Sorry James, I forgot about the
• 59:11
  shoes and I totally forgot about the shoes.
• 59:13
  The shoes, right? The shoes are pretty cool
• 59:15
  looking. They're like a fire.
• 59:16
  I was like, all right, those are cool, but I'm not going to get
• 59:18
  them because they're like it's got someone's name on them.
• 59:20
  But the watch all of that and then all of the the money that
• 59:23
  his family's making through Bitcoin and crypto, it's just so
• 59:25
  unreal. But my biggest fear was Bitcoin
• 59:29
  being clung to that right, being clung to far right and, and
• 59:33
  things of that nature, which it pretty much is.
• 59:37
  And when you look at things like internationally, the Canadian
• 59:40
  trucker rally, you know, little things like that.
• 59:43
  So like my, my kind of feeling it was that Bitcoin is being
• 59:46
  appended to the Trump administration and once he's
• 59:48
  out, it's going to be looked at. The bad thing that you shouldn't
• 59:50
  hold that, you know, that's for, you know, right wingers, that's
• 59:53
  right wing money. I don't know, it's harder to
• 59:56
  believe with like the ETF and all the institutional adoption,
• 59:59
  but I still think something like that is a possibility.
• 1:00:02
  You never want Bitcoin tied to a person.
• 1:00:04
  That's kind of always been my thing.
• 1:00:06
  Like we don't want to reveal who Satoshi is, right for his own
• 1:00:08
  privacy. But at the same time, if people
• 1:00:11
  knew who Satoshi was. Then you would have a group of
• 1:00:13
  people that didn't like that person, didn't like something
• 1:00:16
  they did in the past. And once you could tie somebody
• 1:00:18
  to something, it it, it leaves open the, the area to attack
• 1:00:22
  that thing that that person supports or created, even if
• 1:00:25
  they have nothing to do with their control over anymore.
• 1:00:27
  So that's my $0.02. Yeah, no, 100%.
• 1:00:30
  I, I think I, I think the kind of biggest thing that we're
• 1:00:36
  seeing is what you said kind of in the middle is like, like if
• 1:00:40
  the Republicans lose, you know, the midterms and then if the
• 1:00:45
  Democrats do get in power again, you know, in 2028, like I, I
• 1:00:51
  don't think we even fully understand how big of a
• 1:00:54
  retribution they will put on Bitcoin.
• 1:00:58
  It's, it's not going to be, it's not going to be pretty.
• 1:01:01
  So look, I, I'm really kind of apolitical.
• 1:01:04
  I'm going to take everything as it comes and I'm not really a
• 1:01:07
  like a necessarily A1 issue voter, but I am a, you know,
• 1:01:10
  take my side voter here. And if they're embracing
• 1:01:14
  Bitcoin, then I will be, you know, I will be shilling for
• 1:01:18
  them. You know, I, I will be their
• 1:01:21
  biggest supporters. If they're fighting Bitcoin,
• 1:01:25
  then, you know, they're, they're going to come after us at this
• 1:01:28
  point because there still is a lot of hate and vindication and
• 1:01:32
  retribution surrounding Trump that it's, it's really going to
• 1:01:36
  get ugly here. And yeah, I think it, I think
• 1:01:39
  it's only going to speed up. It's, it's only starting to
• 1:01:41
  build right now, which is, you know, kind of crazy to watch.
• 1:01:44
  It's like I, you know, at first you kind of say some things and
• 1:01:48
  then you're like, wait, it's actually happening.
• 1:01:50
  You're like, oh shit, I, you know, I was kind of just like
• 1:01:53
  talking shit here and now it's happening and you're like, oh
• 1:01:56
  man, I guess maybe I do have a better pulse on what's going on.
• 1:02:00
  And you're like, man, let's just hope that that it forks to the
• 1:02:04
  good side. You know, it's like the bus, you
• 1:02:06
  know, it's like the bus. You're looking at the wall, sad
• 1:02:08
  and depressed. And then it's like, you know
• 1:02:09
  which way Western man it's. Either a a beautiful future or.
• 1:02:13
  One where we are. All in gulags using CBDCS and
• 1:02:17
  digital IDs. It's like, man, it is getting it
• 1:02:20
  is getting kind of hairy out there.
• 1:02:22
  Like it is insane. There is an actual war going on
• 1:02:26
  right now, and it's happening in economics.
• 1:02:28
  You. Have to be very sensitive to
• 1:02:30
  these things that are said and kind of like, you know, we we
• 1:02:33
  kind of know the way these things have gone in the past.
• 1:02:35
  So we just go with our gut for the most part and you see
• 1:02:38
  patterns. So you know, and it's like what
• 1:02:41
  do you how do you stop Bitcoin right at the cats around here at
• 1:02:44
  the bag institutional adoption. I don't know, maybe tinfoil hat
• 1:02:48
  idea here is that maybe it's not police that stop, maybe it's not
• 1:02:51
  the government that stops, and maybe it's family and friends
• 1:02:53
  that try to stop you or make you feel guilty for it the same way
• 1:02:57
  they might have done five years ago.
• 1:03:00
  So you really don't know, right? Things change so fast in the
• 1:03:03
  space. People start, you know, refusing
• 1:03:06
  to accept Bitcoin, right, as a merchant, for instance, or
• 1:03:08
  somebody refusing to spend time with you because you're a
• 1:03:11
  bitcoiner. It sounds crazy now.
• 1:03:13
  But. A lot of things sounded crazy
• 1:03:15
  before 2020 and then and they happen.
• 1:03:17
  So I I'm at the point where I'm not afraid to just say anything
• 1:03:21
  anymore. It's just like, you know, it is
• 1:03:22
  what it is. Yeah, yeah.
• 1:03:24
  Though I think like what you were saying about BlackRock as
• 1:03:28
  well, or like the institutions, now that the institutions all
• 1:03:31
  kind of have embraced Bitcoin, I think it is they the, you know,
• 1:03:35
  anyone that is anti Bitcoin at this point, they are going to
• 1:03:38
  have an uphill battle because like you can argue we live in a
• 1:03:43
  what's it corporatocracy? Is that what it is I'm blanking
• 1:03:46
  on right now? So like, if you fight the
• 1:03:48
  corporations you're really fighting, you know where the,
• 1:03:52
  the power comes from. And so now that the power, you
• 1:03:55
  know, for better or worse, wants to deliver these Bitcoin
• 1:03:59
  products, it's going to be an uphill battle anyways.
• 1:04:03
  Let's let's keep it moving. We're gonna, we're gonna chat
• 1:04:05
  with James about what he's building, maybe some new stuff.
• 1:04:08
  What what, what have you been doing, man?
• 1:04:09
  I haven't seen you in a couple of weeks.
• 1:04:11
  So we're we're gonna catch up one last commercial break and
• 1:04:14
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  freedom. All right, James.
• 1:06:15
  Well, good to have you back, man.
• 1:06:17
  I, I know I kind of threw you into.
• 1:06:18
  Like literally like I threw you into the hard, more spicy topic
• 1:06:23
  right off the off the road. It's like, hey, what's up?
• 1:06:26
  Oh yeah. Like, what do you think about
• 1:06:27
  politics right now? You're like, oh sheesh.
• 1:06:30
  Yeah, man, I I was waiting for you to ask.
• 1:06:32
  You know, it's all good. Like the one of the the most
• 1:06:35
  spicy. Kind of contentious topics in
• 1:06:38
  Bitcoin. It's like Bitcoin and politics.
• 1:06:40
  Like, is it a good thing? The bad thing like, oh, hey,
• 1:06:42
  James, what do you think about this?
• 1:06:43
  You're like, oh, OK, great. Anyway, man.
• 1:06:46
  OK, there's too many people off, right?
• 1:06:50
  How bad can we make people before we start talking about
• 1:06:52
  what you're doing? But.
• 1:06:54
  It's been a few weeks, man. How's how's life?
• 1:06:56
  What? What have you been building and
• 1:06:57
  how like, you know, how's stamps you going over there?
• 1:07:00
  Life is great, you know, as far as stamps, you we've been just
• 1:07:02
  chugging through this bear market, if you want to call it
• 1:07:05
  that, right. We're at the high 80s, which is
• 1:07:06
  great. We had our cyber sales and just
• 1:07:09
  kind of like building, you know, a lot of housekeeping going on
• 1:07:12
  in that world. But you know, once we got
• 1:07:15
  through the cyber sale and through all those events, we're
• 1:07:17
  like, OK, what can we do next? What are we coming out with?
• 1:07:19
  What, what's the next sort of product?
• 1:07:21
  And it's something we talked about in the past is cover
• 1:07:24
  plates. Those are going to be coming no
• 1:07:26
  .2026. So you got to be able to cover
• 1:07:28
  these plates up with titanium, titanium housing and screws.
• 1:07:32
  So that's going to be like the fun, exciting thing that it's
• 1:07:35
  going to be available, you know, for everyone to use, of course.
• 1:07:38
  And you're just working with some more Bitcoin Rs in the
• 1:07:41
  space to get some of these collab plates going.
• 1:07:44
  I don't know if you know the Satoshi statue.
• 1:07:46
  Well, of course, right. Yeah, yeah.
• 1:07:49
  We're working with that team to bring one of those designs to
• 1:07:51
  the plate, trying to get it to kind of move and show different
• 1:07:55
  angles of the Sochi statues. You kind of go across it.
• 1:07:57
  So that is really cool. And yeah, the 12 verb plate is
• 1:08:03
  obviously sort of that new sort of thing that came out recently
• 1:08:06
  that, you know, we have that smaller size.
• 1:08:07
  Yeah, it works with the existing kit.
• 1:08:12
  It looks like something's going on with that picture there
• 1:08:14
  anyway. But yeah, I got the kit right,
• 1:08:17
  got the box. Everything you need in here to
• 1:08:19
  stamp received words into titanium.
• 1:08:22
  Beat the crap out of this plate recently, You know, just doing
• 1:08:26
  some testing on the 12 verb with roofing torches and then hit it
• 1:08:28
  with the hammer and try to smash it.
• 1:08:31
  And you know, of course, as always, the words are there.
• 1:08:33
  You know, they're not going away just because it's a 12 verb
• 1:08:35
  plate. It works the same way as the 20
• 1:08:37
  fours guys. So that's that's that.
• 1:08:41
  And you know other, you know, other than that, that's really
• 1:08:44
  it, man. We're just selling kits and it's
• 1:08:48
  basic. It's very simple product.
• 1:08:50
  Yeah, right. I mean, yeah, let's I you, you
• 1:08:54
  basically already did it. Let's do the, you know, for some
• 1:08:57
  people that, that, you know, they look at the stamp seed kit,
• 1:09:00
  they're like, why should I buy this?
• 1:09:02
  Let's do that elevator pitch here real quick.
• 1:09:05
  And then I, I do kind of want to ask you, I know, I know we're
• 1:09:08
  going to talk about the stamp seed, but I do want to ask you,
• 1:09:12
  you know, as a Bitcoin company, like how you're thinking of
• 1:09:16
  where we are right now. But first, let's do the elevator
• 1:09:18
  pitch on. Why should someone buy a stamp
• 1:09:21
  seed titanium kit? Well, paper sucks.
• 1:09:24
  That's like the main reason right there guys.
• 1:09:26
  That's it's very that it's really that simple.
• 1:09:29
  And that paper that comes with your hardware wallet, if it has
• 1:09:32
  seed words when you buy it is not really meant for long term
• 1:09:35
  storage. That's just meant to kind of
• 1:09:37
  record things down quickly to transfer to more permanent
• 1:09:39
  place. And you know, people think,
• 1:09:42
  where should I store things today that's going to be
• 1:09:44
  permanent that I can access anywhere.
• 1:09:45
  And most people think on a computer, on my phone, in my
• 1:09:48
  notes. And of course, a lot of people
• 1:09:50
  listening might already know. You do not want to keep that
• 1:09:52
  stuff connected to anything at all, right?
• 1:09:55
  Keep it offline off paper. You know, with AI and
• 1:09:58
  supercomputers, all these things have to do is look for a
• 1:10:00
  sequence of 12 to 24 words and then you they have everything,
• 1:10:03
  right? So keep that stuff off of paper.
• 1:10:06
  And conveniently, this plate is the size of a post it, this one
• 1:10:10
  a little bit smaller than a post it and you just stamp in letter
• 1:10:13
  by letter your words into that. So we have these like stamps,
• 1:10:17
  right? Has a little letter on the tip.
• 1:10:19
  That's the letter. I you basically hold that
• 1:10:21
  against the metal plate. Dang, one shot with the hammer.
• 1:10:25
  It's in the plate forever, like literally going to be there
• 1:10:27
  forever. It would take a lot for that
• 1:10:28
  thing to come out. So elevator pitches, get your C
• 1:10:32
  words off paper, get them offline.
• 1:10:34
  What's the best way to store them?
• 1:10:36
  In my opinion, and what many others agree with, is on metal,
• 1:10:39
  but even better, on a single piece of metal, not like
• 1:10:42
  multiple pieces that you're connecting, one solid piece
• 1:10:45
  that's not going to separate from itself.
• 1:10:47
  Everything is here. And on titanium, you want
• 1:10:50
  something steel, titanium in this case.
• 1:10:53
  This is fireproof, not corrosive.
• 1:10:56
  It's never going to rust. So if you know, you sort in a
• 1:10:58
  basement, underground or whatever, you know, you don't
• 1:11:00
  have to worry about anything like that.
• 1:11:02
  You want your Bitcoin to last forever and it's very low time
• 1:11:06
  preference thing for many. We're holding this for decades.
• 1:11:09
  You just got to have a medium that's going to last that long.
• 1:11:11
  So don't be the guy that you know, lost it on paper whose ink
• 1:11:15
  might have faded or ink smudged or whose child found the paper
• 1:11:19
  and tossed it or or whatever the case may be.
• 1:11:21
  It's just not meant for a long term.
• 1:11:23
  And what I always tell people is like we got away from, we're
• 1:11:25
  getting away from paper money. We should get away from paper
• 1:11:27
  seats too. Nothing paper anymore at all.
• 1:11:30
  Like nothing so. Well, James, I, I don't know, I
• 1:11:35
  don't know if this is bait here, but Country Club Hillbilly says
• 1:11:40
  I shouldn't store my seed phrase in Google Cloud, No.
• 1:11:45
  Yeah. No, not it's, you know what,
• 1:11:47
  it's probably not where you're going to want to keep
• 1:11:49
  everything. You know, it's decentralized
• 1:11:52
  money, right? Why?
• 1:11:53
  Why give something, if you decentralize your money, why put
• 1:11:56
  it back into something that's centralized that, you know,
• 1:11:59
  hackers have access to, you know, keep it off the cloud.
• 1:12:03
  And I, I know with Coinbase wants to, you know, you fool
• 1:12:05
  around with all these different apps and whatnot with their
• 1:12:08
  wallet, like their wallet had an option at least a year or two
• 1:12:11
  ago to import your seed words into your own, like Apple Cloud.
• 1:12:14
  It was like literally right there, which is crazy to me.
• 1:12:17
  So they're kind of setting people up for failure there.
• 1:12:19
  Of course, that's a hot wall. Things are a little bit
• 1:12:20
  different. But many people that are new
• 1:12:22
  don't know, you might have your entire stack on that.
• 1:12:25
  So yeah, paper's not good. And then of course, like with,
• 1:12:29
  you know, single sig, you have your single sig and you have
• 1:12:32
  multi sig. With this kit, you can get as
• 1:12:34
  many plates as you need to your multi sig setup.
• 1:12:37
  You could geographically distribute, you know, your
• 1:12:39
  plates wherever you want. The cool thing is you're
• 1:12:42
  purchasing all these tools and you can just get as many backup
• 1:12:45
  plates as you need for when things change in life, when you
• 1:12:47
  want to maybe add another Shamir Shard to your setup, or if you
• 1:12:52
  have another wallet or friends or family get wallets, whatever
• 1:12:55
  the case may be. But yeah, if anyone has
• 1:12:58
  questions, feel free to ask. I love answering questions from
• 1:13:00
  the chat. All right, cool.
• 1:13:01
  Yeah, guys, drop your drop your questions in the chat and we'll
• 1:13:04
  and we'll offer them as they come in.
• 1:13:06
  So they'll be like a 22nd delay before we get some questions.
• 1:13:09
  But hey, you know it's. Christmas season, I know, maybe
• 1:13:12
  a stamp seed kit. The big thing.
• 1:13:14
  It's probably not the best stocking stuffer.
• 1:13:16
  Maybe that's a actual gift you get someone, but the seed plates
• 1:13:20
  are for sure some some. Cool stuff.
• 1:13:22
  Stockings offer. For your for your Bitcoin.
• 1:13:24
  Yeah, let's going under the tree.
• 1:13:26
  You know this is this is going on there.
• 1:13:30
  Exactly those, those aren't stocking stuffers, but I I think
• 1:13:33
  these are maybe stocking stuffers for the whole fam, or
• 1:13:36
  at least for the bitcoins in your life.
• 1:13:38
  Maybe preload a wallet for someone, right, and just stuff
• 1:13:41
  in the sea words with some some Bitcoin on there.
• 1:13:43
  Get them started. You know what the hell is this?
• 1:13:45
  That's Bitcoin. It's a good way to orange bill
• 1:13:47
  somebody. It's kind of like starting at
• 1:13:49
  the end, right? This is the last thing your you
• 1:13:51
  see is your Bitcoin right stamping into metal.
• 1:13:54
  Well, well, maybe it's not the best do that for like your, your
• 1:13:58
  kids. Maybe you know, 'cause you
• 1:14:01
  probably don't want to actually know the seed phrase for your
• 1:14:05
  friends or something like that. Maybe you know your, your
• 1:14:08
  mother, someone within your family.
• 1:14:09
  I could see that playing out. Sure.
• 1:14:11
  Yeah. Yeah, good point.
• 1:14:12
  Maybe not for friends, you know. Like as time goes on, they're
• 1:14:15
  going to be like, wait a second. Advice for friends, but maybe
• 1:14:19
  you're like your kids. Your mom, I I could see that
• 1:14:22
  kind of playing out. You're probably tech support.
• 1:14:24
  Anyways, you probably already do know their seed phrase in some
• 1:14:27
  form or capacity. So that seems a little.
• 1:14:30
  Safer. That seems a little safer, but
• 1:14:33
  yeah, don't do that for friends. That's kind of messed up.
• 1:14:37
  I got you. I got you.
• 1:14:38
  Here we go. It's all set up.
• 1:14:39
  Hey, hey, dude. Trust me, guys.
• 1:14:41
  Hey, look. I got a proposition here.
• 1:14:44
  You know the the joke where everyone was always like, wait,
• 1:14:48
  so I send my seed phrase to James and then they stamp it
• 1:14:52
  into the stamp Kids like no, but if you.
• 1:14:56
  Send me your seed phrase. I will stamp.
• 1:14:59
  It stamp. No, I'm trolling.
• 1:15:00
  That's a joke. That's a bad joke.
• 1:15:03
  But yeah, it's, it's out of control, man.
• 1:15:04
  People still think we're doing it.
• 1:15:06
  It's kind of crazy. Like we have a team of elves
• 1:15:08
  working back here stamping people seed plates for them.
• 1:15:10
  It's not the case, guys. You do it yourself.
• 1:15:13
  It's proof of work. You get the hammer or you smash
• 1:15:15
  them in. I mean, it's, it's pretty
• 1:15:16
  amazing. And there's, there's like
• 1:15:18
  actually people on like Etsy marketplace scamming this way.
• 1:15:22
  Like you. Yeah, you could go and check for
• 1:15:24
  like Bitcoin seed storage and they're like buying metal stamps
• 1:15:28
  and plates. And just like you would have
• 1:15:30
  them personalize a gift for mom during Christmas, they're
• 1:15:33
  personalizing your plate for you.
• 1:15:35
  That's how they phrase it so. That's crazy.
• 1:15:38
  Are. They are they are they using
• 1:15:42
  like a stamp seed? No in their thing.
• 1:15:46
  No, it's like if they were, they would, it would be a big problem
• 1:15:49
  for them. But they're not.
• 1:15:51
  They're they're they're using just, you could tell.
• 1:15:53
  It's kind of like when you go on Amazon, you look at some of
• 1:15:56
  these products, you have companies that kind of slap
• 1:15:58
  things together that aren't really meant for stamping into
• 1:16:00
  hard metals that don't look like great products.
• 1:16:03
  They might do the trick for some people, but for most they won't.
• 1:16:07
  That's what you see a lot of these like Etsy sellers doing
• 1:16:09
  and they don't show like too many of the tools cuz like
• 1:16:11
  you're not buying the kit, you're just buying the plate.
• 1:16:13
  So they're mainly showing like some stamps and, you know, stamp
• 1:16:16
  plate samples for the most part. Got it, Got it.
• 1:16:19
  Yeah, it's crazy. Well, James here, one question,
• 1:16:23
  little pivot, since it is Christmas.
• 1:16:25
  I love Christmas. I actually maybe you'd have to
• 1:16:29
  do this today, but if you were getting a family member like the
• 1:16:36
  perfect startup kit. How many plates do you think you
• 1:16:39
  should buy for someone you know, you you buy the stamping kit,
• 1:16:43
  obviously with all the bells and whistles, but like what?
• 1:16:47
  What do you think is like the, the ideal setup that someone
• 1:16:51
  should have for complete storage of their Bitcoin?
• 1:16:54
  Obviously it changes a little bit, but like, what is your
• 1:16:56
  recommended kind of checking, you know, what do you call it
• 1:17:01
  checking cart? The what you know what, what is
• 1:17:03
  the recommended cart that someone should be buying so that
• 1:17:06
  they feel completely, you know, 100% secure?
• 1:17:09
  Are they already in cold storage?
• 1:17:12
  Let's say that they no, let's say they have like a, a phone
• 1:17:16
  hot wallet and they just got themselves a hardware wallet and
• 1:17:21
  you know, they're like, OK, I don't want to put this in paper.
• 1:17:25
  Like what would be the ideal setup from your opinion?
• 1:17:29
  I mean, yeah, that wallet being a Bitcoin only wallet that's,
• 1:17:32
  you know, all the good, good things that come with it, air
• 1:17:34
  gaps and whatnot. Getting the deluxe kit has
• 1:17:37
  everything you need for stamping.
• 1:17:40
  If if if this person is new to Bitcoin too and you already have
• 1:17:42
  a kit and you're local to them, I will let them actually borrow
• 1:17:44
  the tool kit. Why not and just have them
• 1:17:47
  purchase a plate. So I would either go deluxe kit
• 1:17:50
  and then 12 or 24 word seed plate.
• 1:17:52
  Assuming they're a single sig set up.
• 1:17:54
  The kits come with one of each of those, one of either of
• 1:17:57
  those. I wouldn't get them a practice
• 1:18:01
  blank to practice on because the kit comes with practice piece
• 1:18:04
  now, so you could actually stamp some titanium out without
• 1:18:06
  actually touching the final plate.
• 1:18:08
  In the past, I would have recommended getting 2 plates,
• 1:18:10
  but not anymore because of that. And that's it, right?
• 1:18:13
  You, you have your hardware wallet already, you have your
• 1:18:16
  seed words from it. You're transferring that over by
• 1:18:18
  snapping it to titanium, whether it's a 12 or 24.
• 1:18:21
  And then after that, if you want to kind of add it into the whole
• 1:18:25
  process, it's like where are you going to put this plate?
• 1:18:26
  How are you, How are you hiding it?
• 1:18:28
  What's your process? Does anybody else know where it
• 1:18:31
  is for inheritance purposes or anything like that?
• 1:18:34
  So, yeah, yeah. Great, 100%.
• 1:18:37
  OK. I do have a question when when
• 1:18:40
  are the? Do you have an ETA on the the
• 1:18:42
  covers? We do.
• 1:18:44
  We don't yet, but it's going to be this year.
• 1:18:46
  I don't have a hard ETA. I'm hesitant to give that just
• 1:18:49
  because I'm not 100% sure. But we have gone through the
• 1:18:52
  whole product development and testing phase of the titanium
• 1:18:57
  plates. We are, we have a solution
• 1:19:00
  that's like really going to be premium.
• 1:19:02
  Like it's going to look legit. You're going to have a plate
• 1:19:04
  that goes over the back that's completely flat, doesn't expose
• 1:19:07
  anything. The cover will have security
• 1:19:09
  screws that are made out of titanium.
• 1:19:12
  It's all the same material. Often times when like you might
• 1:19:14
  see some of these solutions out there, you'll have different
• 1:19:17
  screws being a different material than the actual steel
• 1:19:20
  is. You'll have like weird parts in
• 1:19:22
  there that aren't consistent in this way.
• 1:19:23
  It's going to be all titanium consistent.
• 1:19:26
  So that's like a definite. Now we're just trying to work on
• 1:19:29
  some other solutions that might be a little more cost effective,
• 1:19:32
  maybe one that comes with the kit and things like that.
• 1:19:34
  So it's just a matter of kind of figuring out the product line.
• 1:19:36
  But we're we are so close. So that's coming soon.
• 1:19:39
  In the meantime, I know what a lot of people do is just like if
• 1:19:42
  you have two plates, you can sandwich them together.
• 1:19:45
  You just buy a second one and then use hardware to cover it.
• 1:19:48
  Or obviously you have those holes there, which we call
• 1:19:51
  utility holes. Like you just like mount it like
• 1:19:54
  like right onto something like that and just screw it in or
• 1:19:58
  under, beneath, behind something to cover it.
• 1:20:03
  You know, like go like turn your washer machine over on its side
• 1:20:07
  and go under it and just like bolt this to the bottom or
• 1:20:09
  something like, you know, it's couldn't be, might not be a bad
• 1:20:12
  idea. You look at all those California
• 1:20:14
  wildfires. If you look at the aftermath,
• 1:20:16
  one of the only things that I was able to see were either
• 1:20:19
  chimneys or washer and dryer machines.
• 1:20:21
  So. You know, I was just thinking,
• 1:20:24
  I, I, you know, in my old life did do like construction.
• 1:20:29
  Yeah. They, they kind of remind me of
• 1:20:31
  those, like nail plate covers, Right, Right.
• 1:20:33
  You know, you could you could do some handyman work.
• 1:20:36
  Especially this one, right? It's like it's bare size, yeah.
• 1:20:39
  That might be the. So I was going to ask you, you
• 1:20:41
  know, I last time you were on, or maybe it wasn't the last time
• 1:20:44
  you were on, but you were kind of covering various ways of how
• 1:20:49
  to hide and you were like, yeah, we're kind of working on new
• 1:20:52
  ideas. The Diaz and I was just sitting
• 1:20:53
  there like, dude, this is like a like a nail plate cover.
• 1:20:56
  You just put it on some 2 by fours or something in your
• 1:21:00
  house. But anyway, totally.
• 1:21:03
  Where do you? Go.
• 1:21:04
  It's, yeah. I don't know.
• 1:21:05
  It's it's, it's acting weird on me right now.
• 1:21:06
  But Deb, you developed any more kind of schemes here, any more
• 1:21:10
  schemes that you you figured out since the last time you've been
• 1:21:13
  on? Good ways to hide?
• 1:21:15
  Not really, man. I haven't been to any
• 1:21:17
  conferences and that's where usually people kind of do their
• 1:21:19
  show and tell. Well, not really their show,
• 1:21:21
  just their tell. They explain how they're hiding
• 1:21:23
  them. But one thing we've been talking
• 1:21:24
  about internally was we have the custom plate listing where you
• 1:21:28
  could put whatever you want on the back of the plate.
• 1:21:31
  To be honest with you, those aren't really like selling too
• 1:21:33
  hot right now. And I'm not sure why I thought
• 1:21:35
  it'd be a pretty cool thing. But we're thinking about kind of
• 1:21:37
  maybe coming out with some sort of starter ideas for people.
• 1:21:41
  You know, maybe like the plate says something on it that it
• 1:21:44
  wouldn't say like nail plate. But what if it was like me or
• 1:21:46
  something electrical? You could put an electrical
• 1:21:48
  warning on the back of this maybe.
• 1:21:50
  And then it's a little bit more deterrence for it, you know,
• 1:21:54
  warning, electrical shock, don't touch something like that on the
• 1:21:56
  plate and have it near an electrical unit or just have it
• 1:21:59
  near other things that are metal where it just looks like it's
• 1:22:01
  part of that HVAC unit that you have in your attic, right?
• 1:22:05
  Like there's so many ways to kind of append it to something.
• 1:22:09
  But all that stuff to me is really a lot more important with
• 1:22:11
  single sig set up, which I feel a lot of people are moving away
• 1:22:14
  from. You know, with something like
• 1:22:15
  multi sig three of five, you could be a little less, you
• 1:22:20
  know, MacGyver or James Bond about hiding your plates,
• 1:22:22
  although I'm not saying you don't want to be.
• 1:22:23
  You don't want to have it just that in plain sight.
• 1:22:25
  But you know, if you geographically distributing your
• 1:22:29
  multi sig setup, you you might not want to hide them super,
• 1:22:32
  super crazy. You know, it might be a little
• 1:22:34
  less necessary. So you know that you don't want
• 1:22:38
  to hide it so good that you can't find it either, right?
• 1:22:40
  That's a problem. You don't want all your eggs in
• 1:22:42
  one basket. Like single sig has a place, but
• 1:22:45
  multi sig has a place right side by side with it.
• 1:22:47
  I think. So it's fun though, Like I, I, I
• 1:22:50
  go through too, Like I, I set up my wallet recently I got AI got
• 1:22:53
  a new wallet. I always want to try the new
• 1:22:55
  stuff that's out there. And then I just always get to
• 1:22:58
  that point. It's like, oh, where am I going
• 1:22:59
  to hide this plate? And I'm always trying to think
• 1:23:01
  of something new and, and sort of crazy, but it just never
• 1:23:04
  really gets to that point, you know?
• 1:23:07
  I mean it's almost like I was was it Dune?
• 1:23:12
  I was re watching the dune. Movies this weekend.
• 1:23:15
  The old ones are the new ones. I I watched the the 1984, the
• 1:23:19
  David Lynch one. I watched the David Lynch one
• 1:23:21
  and then I watched the new ones. Well, I actually watched the new
• 1:23:23
  ones and then I watched the David Lynch 1 and I love David
• 1:23:26
  Lynch like I I love a Twin Peaks, but dude, the the.
• 1:23:29
  Old one was like, it's brutal to watch.
• 1:23:31
  It was like, Oh my God, this is horrible.
• 1:23:33
  But it was good. It was more content.
• 1:23:35
  Anyways, the reason I bring it up is because there's that.
• 1:23:38
  Scene in the new the new dunes where they're like, yeah, we hit
• 1:23:43
  it in plain sight. And he's just like, that's not
• 1:23:45
  clever. Like this isn't clever.
• 1:23:47
  Like, this is not clever. He's like, well, you know, you
• 1:23:49
  didn't find it. So it just makes you think like,
• 1:23:51
  you don't really need to overcomplicate everything.
• 1:23:54
  Sometimes maybe a a little more obvious, you know, kind of like
• 1:23:58
  almost too obvious that it wouldn't be what it is.
• 1:24:01
  Might work the best, but hey, this is up to you as the holder
• 1:24:06
  of the stamp seed. But yeah.
• 1:24:07
  Exactly. That's where all the fun
• 1:24:09
  happens. Where do I hide it?
• 1:24:10
  And it could be in plain sight forever.
• 1:24:12
  No one ever touched it or someone touches it day one.
• 1:24:15
  Like, you never know. Those are all sort of the crazy
• 1:24:17
  things that go through your head when you're doing it.
• 1:24:19
  But you know, for that reason, that multi sig right, that's to
• 1:24:21
  me, it's just the no braider option.
• 1:24:24
  But it's still this fun kind of hiding something right, knowing
• 1:24:27
  no one knows where it is and and you know where it is.
• 1:24:29
  And even if it's something that people pass all the time, it
• 1:24:32
  could be really interesting. Like I I spoke to this one guy
• 1:24:36
  who would would put his plate inside resin and made it look
• 1:24:40
  like a rock and threw that rock in his man made pond on his
• 1:24:45
  property. Dude docs now you just doxed
• 1:24:48
  his. Yeah, you.
• 1:24:50
  Just look go on Google Maps and look for who has a pond.
• 1:24:53
  Yeah, look for a pond, a good pond.
• 1:24:55
  Now you know, just sitting there.
• 1:24:58
  Out there, right? And like we're not at the phase
• 1:25:00
  where we're really worried about people like, you know, everyone
• 1:25:02
  knowing what these things are looking, but you know, that's
• 1:25:05
  why we stay humble. Stacks ads don't tell everyone
• 1:25:07
  you have Bitcoin, right and no one really knows and do some
• 1:25:11
  sort of multi sig setup and keep these things geographically
• 1:25:14
  separated. I think that's like the best
• 1:25:15
  bet, right? Love it, James, love it.
• 1:25:17
  OK, so wrapping up the show, I do want to give you the last
• 1:25:22
  word here. What's the last final advice you
• 1:25:24
  want for people? You could plug stamp seed one
• 1:25:27
  more time, you know, Christmas gifts, whatever.
• 1:25:29
  What? What's the final message you
• 1:25:30
  want to give to the people out there?
• 1:25:33
  Oh man, the final message. I mean, I have to stick with
• 1:25:36
  Stampsy here. Put your seed words in metal.
• 1:25:39
  And if you thought about doing it and you've been
• 1:25:42
  procrastinating like I did earlier in my life, all the
• 1:25:44
  people I speak to who don't do it, just get it done right.
• 1:25:47
  Knock it out. You'll feel so much better once
• 1:25:49
  it's complete. I don't procrastinate it, just
• 1:25:52
  do it. Let's go.
• 1:25:54
  Love to hear it actually James 11 last question, if someone
• 1:25:58
  were to buy one stamp seed kit, do you think they would get it
• 1:26:03
  in time for Christmas? So 7 days.
• 1:26:07
  If they bought it with expedited shipping, yes.
• 1:26:10
  Don't do it on Friday afternoon though because we're going to
• 1:26:12
  miss the weekend shipping. I would order today with
• 1:26:15
  expedited shipping. You might actually be able to
• 1:26:16
  get it today with USPS priority depending on where you live, but
• 1:26:22
  I would just opt for the faster shipping option there.
• 1:26:24
  All right, well, there, you heard it.
• 1:26:26
  You heard it here, guys. So if you're on the fence and
• 1:26:29
  you want to get one for Christmas for someone you love,
• 1:26:31
  maybe. Maybe.
• 1:26:31
  You buy it for yourself. Do it ASAP because you got to
• 1:26:35
  get it for the Christmas tree, man.
• 1:26:36
  You got to get it wrapped under the tree.
• 1:26:39
  All right, James, well, thank you so much for coming on.
• 1:26:42
  I I am going to apologize again for throwing you into the hot
• 1:26:45
  water right away. That's all right.
• 1:26:48
  I enjoyed it. It was fun, man.
• 1:26:49
  Why? You know why not?
• 1:26:50
  I felt alive. OK.
• 1:26:52
  Yeah, 100. Percent just like.
• 1:26:54
  Literally instantly like deer in the headlights, like, oh shit, I
• 1:26:58
  I got a really opine on something quickly.
• 1:27:01
  But no, yeah, we, we are, we are kind of working with our kind of
• 1:27:07
  our guest here. So like we're still kind of
• 1:27:09
  working through the schedule. Like ideally we want you to come
• 1:27:13
  on, you do the stamp seed plug. You.
• 1:27:15
  Just RIP it. And then, you know, you don't
• 1:27:18
  have to spend that much time. You don't have to sit here an
• 1:27:20
  hour with me, bro. So I know you like to, but.
• 1:27:23
  Where? Where do I go back to work?
• 1:27:25
  I gotta go back to work now. Damn, that's.
• 1:27:28
  All right, James, good to see you.
• 1:27:31
  Yeah, hang out. Hang out for a second while wrap
• 1:27:33
  up and and we'll chat and. All right, guys.
• 1:27:36
  Well, there you have it. Simply opt to you take over.
• 1:27:41
  I hope you guys got some value today, man.
• 1:27:43
  I really appreciate you guys. I love you guys.
• 1:27:45
  You know I, I, I'm sorry I couldn't hang out with you guys
• 1:27:48
  in the chat as much today, but you know, I'm live.
• 1:27:51
  I'm, I'm handling all this other stuff here.
• 1:27:53
  So it's Wednesday got 2-2 more days left with me guys.
• 1:27:58
  I'm I'm gonna prep you now. I am going to be gone all of
• 1:28:02
  next week, OK, I am going home. We are still going to have a
• 1:28:06
  show, but I will be gone the week of Christmas.
• 1:28:11
  So, you know, I'll be back. I think it might be.
• 1:28:14
  I think no, I'll be. I'll be back by I'll.
• 1:28:17
  I'll be back end of December. All right guys, peace out.
• 1:28:19
  I'll see you. Tomorrow.
• 1:28:22
  Later. Today's episode was brought to
• 1:28:24
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:28:28
  mission to enable financial independence.