Latest / Simply Bitcoin / "75% Chance of Bitcoin being $1M by Year End" | EP 965

Transcript

"75% Chance of Bitcoin being $1M by Year End" | EP 965 · Simply Bitcoin

• 0:03
  It's all going to zero against Bitcoin.
• 0:07
  It's going up forever. You're against Bitcoin.
• 0:17
  You're against freedom. Yeah.
• 0:23
  Welcome to another episode of Simply Bitcoin Live.
• 0:26
  Your number one source for the peaceful Bitcoin revolution car
• 0:28
  breaking news culture. Matic Warfare will be your guide
• 0:30
  through the separation of money and save.
• 0:31
  Ladies and gentlemen, welcome to the most watched daily Bitcoin
• 0:35
  live show on YouTube, Rumble and X.
• 0:37
  And of course, I'm talking about Simply Bitcoin.
• 0:39
  Strap in because it's going to be a great show.
• 0:42
  Another look. It seems like you guys like
• 0:44
  these. I'll be honest with you.
• 0:45
  So we have notable figures. We have Martin.
• 0:50
  I can't pronounce his name. He's got a funky last name, but
• 0:53
  we have Martin Shkreli who said, quote, I think there's a 75%
• 0:59
  chance of BTC being $1 million by year end.
• 1:03
  And of course we have Samson Mao saying the same thing.
• 1:07
  And what I got to say about that is, in terms of like, percentage
• 1:11
  returns, it's really not that crazy.
• 1:15
  If you look at the previous cycles, in 2017, the price ran
• 1:21
  up from 1K to 20K. If you go all the way back to
• 1:26
  2016 to the end of 2017, it was way more than 20 K Now, of
• 1:32
  course, the law of big numbers come into play.
• 1:35
  It's a lot harder for Bitcoin to double at $70,000 than it was
• 1:39
  for Bitcoin to double at $1000. So it's definitely something to
• 1:43
  take into account. But that's also something that
• 1:46
  people like Samson Mao, people like Adam Back are saying like
• 1:49
  no. Like the, you know, throw the
• 1:52
  law of diminishing returns out the window.
• 1:55
  And because that's one of the narratives of of of this cycle
• 1:59
  is kind of the law of diminishing returns will kick
• 2:01
  in. And you know, the Bitcoin
• 2:03
  Bitcoin price tends to do the exact opposite of what everyone
• 2:07
  thinks it's going to do. And I can't help to think that
• 2:11
  this reminds me of a lot of the 2021 bull market where a lot of
• 2:16
  people thought that Bitcoin was only going to reach, you know, I
• 2:21
  mean, Bitcoin was going to reach 100K and then it never did.
• 2:23
  It only peaked AT70K. When I'm hearing this cycle is
• 2:27
  that a lot of people think that Bitcoin is going to only hit,
• 2:31
  you know, 100K or 150K like it. It seems like the general
• 2:35
  consensus is bearish, and I think that has to do with a lot
• 2:39
  of the PTSD that a lot of people got from the last cycle.
• 2:43
  But I have to remind everyone, I think the last cycle was
• 2:45
  artificially cut short because of two factors.
• 2:48
  Of course a lot of people talk about the rehypothecation of
• 2:51
  FTX, how FTX was basically essentially selling paper
• 2:55
  Bitcoin. But in another sense also we had
• 3:00
  the China mining man, and I've showed you guys the chart many
• 3:02
  times, where the Bitcoin hash rate literally dropped off a
• 3:06
  Cliff and it seems like the price went along down with it.
• 3:10
  And it makes sense as those miners had to sell Bitcoin, sell
• 3:14
  their mining infrastructure to relocate to more favourable
• 3:17
  jurisdictions. That doesn't seem to be the case
• 3:20
  this time. Obviously, we know that the
• 3:22
  majority of mining is happening in Texas.
• 3:24
  It's happening in the US much friendlier jurisdiction, not yet
• 3:28
  a totalitarian country like, you know, like China, like Communist
• 3:31
  China. So do I think that there will be
• 3:34
  a ban? I mean, anything that's
• 3:36
  possible, but I think the likelihood is dramatically
• 3:39
  increased. Not to mention the fact that we
• 3:42
  have tremendous amount of institutional interest from the
• 3:45
  likes of Black Rock. You have Michael Saylor's
• 3:48
  Bitcoin strategy being vindicated on the public company
• 3:52
  level. He's basically showing everybody
• 3:55
  that if you put Bitcoin on your balance sheet, you know you tend
• 3:58
  to outperform everything else. And of course on the nation
• 4:02
  state level, Opti and I just got back from El Salvador Nayeem
• 4:06
  Bukele's Bitcoin strategy of buying one Bitcoin a day since
• 4:10
  the bottom he's been vindicated as well.
• 4:12
  Michael Sailor's break even price was about 31 K and El
• 4:17
  Salvador's break even price was about 41 K So both of them on
• 4:22
  the nation state level, On the public company level both have
• 4:25
  been vindicated. And I got to mention Tesla,
• 4:28
  Tesla's a little bit of a sleeper.
• 4:31
  Tesla almost has 10,000 Bitcoin, they've almost 2X their
• 4:34
  investment. So multiple, multiple public
• 4:38
  companies have proven that the Bitcoin strategy is working and
• 4:44
  if history is to repeat itself and Bitcoin follows the patterns
• 4:48
  of the previous cycles, the party tends to tends to begin
• 4:54
  after the halving. So this bull market, if history
• 4:57
  were to repeat itself, hasn't even started yet.
• 5:00
  That's something that I personally believe as well.
• 5:03
  But again, that's when you're kind of getting into speculation
• 5:05
  territory. Is it speculation though?
• 5:08
  It's Infinity divided by 21 million.
• 5:10
  If demand stays exactly the same, you know, the having
• 5:14
  ensures that supply shock. You know, a lot of people are
• 5:17
  saying that that supply shock is being diminished, you know,
• 5:20
  because the having rewards are not the same.
• 5:22
  That's still a tremendous amount of cell pressure.
• 5:24
  Like regardless, like you know, the fact that it's being cut
• 5:27
  from, I think it's like 6.25 to half of that 3.125 or something
• 5:31
  like that. I think it's still like a lot of
• 5:34
  cell pressure is being taken off.
• 5:35
  I know a lot of people are saying that's not the case.
• 5:38
  I got into Bitcoin through mining.
• 5:39
  I I I tend to believe that the halving still plays a huge role
• 5:44
  and the halving is not priced in.
• 5:45
  Also, Jack Mahler's chiming into something that we've been
• 5:49
  talking about on simply Bitcoin a lot.
• 5:51
  This theme of the differences between how El Salvador is doing
• 5:57
  things and how the rest of the world is doing things.
• 6:00
  Specifically, he's talking about the United States of America and
• 6:04
  he has about a three minute rant on that particular topic and
• 6:07
  other news also. This is something that we
• 6:10
  covered as soon as Naimbu Kelly decided to make the Bitcoin
• 6:15
  reserves of El Salvador public by posting the address.
• 6:19
  And what that does is it makes Naimbu Kelly and the government
• 6:24
  of El El Salvador accountable. Why?
• 6:26
  Because it's a lot easier to it's a lot harder to steal from
• 6:29
  thing something that everyone is looking well breaking news just
• 6:33
  came out this is from Zero Hedge.
• 6:36
  I I really enjoy the content coming out of Zero Hedge but the
• 6:40
  article headline is Federal Reserve refuses to provide
• 6:43
  records of foreign gold holdings.
• 6:45
  So I'm going to say what I said when El Salvador dropped the
• 6:50
  news. I think that if anyone is
• 6:52
  criticizing of El Salvador, any other nation state, any other
• 6:56
  country, until they show their reserves, I'm just not going to
• 7:01
  listen to what they have to say. I think they're Larping, right?
• 7:04
  So we're going to dive deep into that.
• 7:06
  It's going to be a great show. We also have an awesome guest on
• 7:09
  today's show as well. But I'm going to bring up my
• 7:11
  legendary Co host, the Optimus Fields, the one who has been
• 7:15
  rejected officially by Miss El Salvador.
• 7:18
  And how you doing Opti? I'm never going to live that one
• 7:21
  down, man. I'm doing great.
• 7:23
  Life's great. And actually on another point I
• 7:26
  love that bitcoin's dipping. It's at like 69 K and we're like
• 7:29
  a million, $1,000,000 Bitcoin by the end of the year.
• 7:31
  Bitcoiners are so bull tarted. I absolutely love it.
• 7:34
  Cracks me up every single time and one thing for sure.
• 7:37
  Number goes up forever. Laura.
• 7:39
  So here we are just keep stacking.
• 7:42
  This is the way. But I'm.
• 7:44
  I'm interested to to hear Niko's take on this.
• 7:46
  Anyways let's bring in our guest today.
• 7:47
  We got Aaron. We were we were talking with him
• 7:50
  behind the scenes and and gauging whether he's a zoomer
• 7:52
  because he's got this baby face here.
• 7:54
  But that's besides the point. A Michigan Bitcoiner who built
• 7:58
  an epic website that I think you guys will love.
• 8:00
  It's called bitcoinerfreelance.com.
• 8:04
  I repeat bitcoinerfreelance.com guys.
• 8:06
  So we got a bunch of good topics for you guys in the culture and
• 8:09
  we'll talk about the project that he's working on and some
• 8:11
  other projects that he's affiliated with.
• 8:13
  But Aaron, how you doing this morning?
• 8:15
  I'm. Doing great.
• 8:15
  It's good to see you guys look like you're doing well as well.
• 8:18
  We're alive, bro. The sun's up.
• 8:20
  Bitcoin blocks are coming in that life is good.
• 8:23
  Opti has steaks. So I got steaks.
• 8:26
  I was prepping some steaks. Before the show.
• 8:28
  Anyways, this this week's gonna be epic as well, guys.
• 8:31
  Tomorrow I'm gonna be streaming from Texas with Opti in the
• 8:34
  flesh. It should be interesting to set
• 8:36
  that up and on. Thursday, We literally only have
• 8:38
  one chair, Niko, so we gotta figure this out.
• 8:40
  We're gonna be streaming from the Airbnb that we got next to
• 8:43
  Bit Block Boom and on Saturday we'll be streaming the Bit Block
• 8:46
  Boom conference from the Simply Bitcoin channel and we'll be
• 8:50
  doing a news desk as well. So it's going to be crazy crazy,
• 8:53
  another crazy week following the having party.
• 8:56
  So we got loads of great Bitcoin content for you guys as well,
• 9:00
  tons of in person interviews from Bitblock Boom.
• 9:03
  That should be a whole lot of fun.
• 9:05
  Anyways guys, no more delay. Let's jump straight into the
• 9:07
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• 9:10
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  market cap 9.81% In the grand scheme of things Bitcoin is just
• 13:03
  getting started. Anyways, in other news I did
• 13:06
  want to show you guys this clip from Jack Mahler's being Jack
• 13:10
  Ballers. He goes on to say one country
• 13:13
  faces lifestyle changes due to inflation, insolvency, a banking
• 13:18
  crisis and perpetual war. Another country is ascending by
• 13:22
  pursuing the hardest money, low crime, beautiful aesthetics and
• 13:26
  entrepreneurial talent, which is the US, which is El Salvador.
• 13:31
  That's a great question. I mean, you know, you would
• 13:34
  think that the United States is the embodiment and the
• 13:38
  embodiment, embodiment of those things. the United States is the
• 13:42
  country of individualism. the United States is the country of
• 13:47
  the so-called American Dream. Where you come to this country,
• 13:50
  it doesn't matter where you're from and if you work hard
• 13:53
  enough, you have the ability to save and prosper in the future.
• 13:57
  Well, that is complete. That is being diminished by the
• 14:00
  day due to I would just say the money printer.
• 14:03
  It's as it's as simple as that, I think the ability for the
• 14:06
  federal government to print money out of thin air creates an
• 14:10
  incentive structure of irresponsible fiscal spending,
• 14:14
  unsustainable fiscal spending. The government is spending more
• 14:18
  money than it collects in tax revenue.
• 14:21
  It's a $2 trillion and year by year of deficit spending, it's
• 14:25
  absolutely, it's absurd, you know, they're spending the
• 14:28
  future essentially and of course that makes everyone's life,
• 14:32
  who's everyone's life, who's living in the present harder,
• 14:35
  specifically if you are in the lower and middle classes and you
• 14:38
  don't have the means to save an assets.
• 14:41
  So I think by the day more and more people will wake up to this
• 14:44
  reality. I think it's also the cause of
• 14:47
  the rise in populism all over the world.
• 14:49
  And I think Naimbu Kele as well as Javier Malay in Argentina, I
• 14:55
  really representations of people getting sick and tired of the
• 14:58
  status quo. I made this, I said this as a
• 15:01
  joke, some original thought on Twitter.
• 15:03
  I said, hey guys, now we know how to get.
• 15:05
  Now we know how to get a libertarian president elected.
• 15:08
  All we need is 150% inflation. I said that as a joke, but it's
• 15:12
  true. At the same time, people are
• 15:14
  just sick and tired of this and the same excuses in the
• 15:17
  gaslighting because here in the US we're getting these job
• 15:20
  reports. And of course it's not, it's not
• 15:23
  because it's election year or anything.
• 15:25
  We're getting these job reports that are saying the economy is
• 15:27
  doing so well, it's doing so great and you know, everyone
• 15:31
  should be thriving. But the thing about inflation
• 15:34
  and sticker shock is that you can't propagandize that.
• 15:38
  There's no amount of spin and misrepresentation that is going
• 15:43
  to convince people that they're somehow doing better than years
• 15:47
  prior, even though they're not. Like, if someone is making the
• 15:52
  same amount of money but they can't afford the same amount of
• 15:54
  things, it doesn't matter how much you tell them and an
• 15:58
  official government report that, hey, you're doing fine.
• 16:02
  Like the truth is the truth. Like it's going to come out
• 16:05
  regardless. And again, this is what I mean
• 16:07
  by a system where the incentive structure is misaligned.
• 16:11
  The government is not incentivized to tell you the
• 16:14
  truth, because if they told you the truth, that would mean that
• 16:17
  they would have to spend less, they would have to print less,
• 16:20
  which means less enrichment for themselves.
• 16:23
  Less endless wars, I mean less wars, less all those things that
• 16:27
  benefit the government. They would have to stop that, or
• 16:30
  they would have to cut it short, but they would rather keep the
• 16:33
  party going. And what would they do?
• 16:34
  What do they have to do in that situation?
• 16:36
  Well, gaslight the American people and tell them, hey guys,
• 16:39
  everything is going great. And of course This is why they
• 16:44
  dislike El Salvador. This is why the mainstream media
• 16:48
  or better said the the legacy corporate media dislikes El
• 16:52
  Salvador. Me and Opti were talking about
• 16:55
  this. El Salvador has AGDP of $32
• 16:58
  billion. Just to kind of give you guys a
• 17:01
  reference, Elon Musk's net net worth is $200 billion.
• 17:09
  So Elon Musk's net worth is larger, is larger than El
• 17:12
  Salvador's GDP. Why in hell does the legacy
• 17:18
  media and why did some members of the US government literally
• 17:24
  make like an announcement in Congress that they were going to
• 17:27
  somehow investigate El Salvador? Like why are they doing all of
• 17:30
  this? If El Salvador is this
• 17:33
  developing country wants to get ahead, it wants to do the right
• 17:36
  thing, why are they so focused on that?
• 17:39
  Why aren't they focused on Venezuela?
• 17:41
  Why aren't they focused on all these countries surrounding it?
• 17:43
  Why are they so focused on El Salvador?
• 17:46
  And I think the reason for that is simple.
• 17:48
  I think El Salvador makes them look bad that I think that's
• 17:50
  what it is. Like, it's pure and pure and
• 17:53
  simple. Like same reason that they, you
• 17:55
  know, they they they got upset when Javier Mile got elected.
• 17:59
  I think it just makes them look bad, like the fact that this
• 18:02
  dude's flying commercial and the rest of the leaders are flying,
• 18:07
  you know, private, even though the country can't afford it.
• 18:11
  I think, you know, I think it just it it highlights the
• 18:14
  hypocrisy of a lot of these politicians that supposedly it
• 18:18
  they say that if you elect them, we'll solve a lot of your
• 18:20
  problems, but they don't. I think people are sick and
• 18:23
  tired of that and I think they're trying to look for a
• 18:26
  solution. Anyways, here's what Jack
• 18:28
  Mahlers has to say. But the whole point is, is that
• 18:31
  government, the the problem is that governments can be violent
• 18:35
  and force people to do things against their well.
• 18:38
  So the idea of like, well, El Salvador was on the dollar.
• 18:40
  So you know, for them, they could.
• 18:42
  It's like they weren't. Born that way.
• 18:44
  If you Kelly wanted his own currency tomorrow, he could do
• 18:47
  it. So, like to me, it's the idea he
• 18:51
  he said. I'm going to adopt hard money
• 18:55
  and and forgive my role in controlling monetary supply and
• 19:02
  money within my population. I'm going to be very tough on
• 19:05
  crime. I'm going to lean into
• 19:08
  aesthetics of my country. He's leaned very much into the
• 19:11
  volcano, the beach side, and I'm going to recruit talent.
• 19:17
  Hard money. No crime.
• 19:20
  Aesthetics. Talent.
• 19:24
  Yeah, I fucking love it. I mean, like I fucking love it
• 19:28
  and and that's, But that's yeah, I mean.
• 19:31
  And I'm from the United States. Insolvency bank lines, Election
• 19:36
  year, Putin's price hikes, Supply chain.
• 19:41
  Come on. Wait it.
• 19:43
  Yeah. Of course you're of course
• 19:44
  inflation is going up because of.
• 19:46
  Putin wheat. And the supply chain problems,
• 19:50
  please, and not nothing to do with all the money that we've
• 19:54
  printed and it seems pretty obvious that the best strategy
• 19:59
  of your dollar. It is, you know, secure hard
• 20:03
  assets and what has gone up, What's at a record high?
• 20:07
  Gold real estate, Bitcoin, right, everything that's got a
• 20:10
  scarcity argument. I just think Bitcoin's a the
• 20:12
  better option of those. I mean, you're storing.
• 20:15
  You know, I'll still my typical gold rant.
• 20:19
  You're storing value in something that we don't know how
• 20:21
  much of it there is right? Nobody has a decent estimate on
• 20:25
  how much gold you could dig out of the ground, right?
• 20:29
  Real estate is reasonably fixed, but you can always put another
• 20:33
  penthouse on top of what's existing, right?
• 20:36
  Bitcoin is is the most provably fixed of your major places to
• 20:40
  hide during a dollar tsunami. Yeah.
• 20:43
  And I so I mean guys, I don't think people appreciate what's
• 20:48
  the Bitcoin price where Bukelly could call the IMF and say I
• 20:52
  don't ever need another loan again.
• 20:54
  You guys can delete my number. Would you do you appreciate how
• 20:59
  revolutionary that would be for someone to divorce the need of a
• 21:04
  perpetual line of credit just to run their country from the West
• 21:11
  and say I got it from here, We we bought a bunch of Bitcoin.
• 21:15
  We've been investing in our future by holding our energy and
• 21:18
  our time and something that persists it.
• 21:21
  And we've been recruiting talent, been very tough on prime
• 21:26
  places, clean and we have a lot of natural, beautiful resources
• 21:30
  and we're good, but we appreciate the the loans over
• 21:35
  the years. But we got it from here that
• 21:37
  would change the world in such a material way, only possible with
• 21:42
  something like Bitcoin. There's no way that a country
• 21:45
  could persist their time and energy and anything else.
• 21:48
  So I mean, like he said the word he said revolutionary.
• 21:54
  You want to know why the legacy media attacked Naeem Bukele the
• 21:58
  way it did? That's why.
• 22:01
  You want to know why the IMF, you know, freaked out the moment
• 22:05
  that El Salvador announced, hey, we're gonna make Bitcoin legal
• 22:09
  tender. That is why he's literally
• 22:12
  telling you the reason why. And that calls into the very
• 22:16
  question of what the hell is the purpose of the IMF?
• 22:21
  Is it a system of control? Is it a system that is actually
• 22:26
  met and designed to help poor countries?
• 22:30
  Or is it a system that is cloaked in this perception of,
• 22:39
  oh, we're the World Bank. We're going to give you a loan
• 22:42
  so that you can propel your country forward.
• 22:46
  But in reality, what's come to light, and I think Alex
• 22:50
  Gladstein's done incredible work on this, there's also a book
• 22:54
  called Confessions of the Economic Hitman.
• 22:57
  What's come to light over the years is that these
• 23:01
  institutions, these very powerful institutions like the
• 23:05
  IMF, which coincidentally is located in Washington, DC, is
• 23:08
  coincidence. Like the World Bank, perhaps.
• 23:13
  Maybe they aren't who they say they are.
• 23:16
  Perhaps they aren't doing the things that they tell the world
• 23:23
  that they're supposed to be doing.
• 23:24
  Perhaps their mechanisms of control, perhaps their
• 23:28
  mechanisms to enslave these countries.
• 23:33
  And perhaps that's why the IMF had such a hard time accepting
• 23:39
  that Bitcoin was going to be made legal tender.
• 23:42
  And all the things that they predicted was going to happen to
• 23:46
  El Salvador never happened to El Salvador.
• 23:50
  And another thing in Argentina, they gave Argentina another
• 23:56
  bailout. And one of the conditions of
• 23:59
  that bailout was that the government of Argentina had to
• 24:02
  deincentivize the population to use alternatives to their local
• 24:08
  Fiat currency, even though the current country was suffering
• 24:12
  through 150% inflation. So again, I'm going to pass it
• 24:16
  on to you guys. Who is the IMF?
• 24:19
  What is the IMF really about? Who is the IMF really watching
• 24:23
  out for? Is it the people of the world or
• 24:26
  is it themselves? Or perhaps maybe it's the US
• 24:30
  government perhaps. Maybe that's a that's a very
• 24:32
  that's a very tough statement. But I don't know, man.
• 24:37
  Like I got, I got to say, keep Naimbu Kele, keep doing your
• 24:41
  thing, man. You're an inspiration to the
• 24:43
  rest of the region. Opti and I just went there.
• 24:46
  I feel the energy, I feel the positivity and I just want that
• 24:49
  to keep going. I just want Naimbu Kele to keep
• 24:52
  going anyways. Opti, what's your take on this,
• 24:54
  brother? Yeah.
• 24:56
  So the beginning of this, you kind of were talking about
• 24:59
  trusting the numbers and trusting the corporate legacy
• 25:02
  media. And I just kept thinking of,
• 25:06
  like, the idea, like if you believe the official numbers
• 25:08
  right now, you are so misguided that I think you should be
• 25:12
  mocked at this point. Like, we know they're lying.
• 25:15
  They know they're lying, and they know we know they're lying.
• 25:18
  And anything coming out of, you know, official institutions, as
• 25:21
  far as I'm concerned, are manipulated.
• 25:24
  They're they're outright fake. It's reminded me of a of a great
• 25:28
  post that Balaji put out a while ago about how at the very end of
• 25:32
  the USSR they were faking all of the factory numbers and then
• 25:36
  eventually it crumbled. Well, that's not what we're
• 25:39
  doing right now in the US, or rather in the first world, all
• 25:42
  the first world countries, it's like they're faking all the
• 25:44
  financial numbers and no one has a real metric of what's going
• 25:48
  on. And at a certain point this will
• 25:52
  start to crumble and we're seeing in real time that it's
• 25:54
  crumbling. So if you're believing the
• 25:55
  official numbers, any official data coming out besides the
• 25:59
  Bitcoin time chain, then I fundamentally believe you are
• 26:03
  detached from reality and this is what's going on.
• 26:06
  Nico was calling it the gaslighting.
• 26:08
  We're seeing in real time that a lot of people have lost their
• 26:11
  mind because they still believe in the official narratives.
• 26:15
  And yet bitcoiners are the ones that have completely unplugged
• 26:18
  from their propaganda, see the truth of the matter going on,
• 26:22
  understand the game being played, and they obviously do
• 26:25
  not want people to be awake, to be informed.
• 26:28
  Hence why you know me A, a public school student in America
• 26:31
  is is barely above an 80. The IQ is because, you know, we
• 26:35
  don't know what's actually going on.
• 26:37
  I get trolled all the time because I don't know any other
• 26:39
  country besides America. You know, I I jokingly say as
• 26:42
  like a means like America is the only country that matters.
• 26:45
  But that's just my my own American brainwashing.
• 26:48
  But really, if you believe the official institutional lies,
• 26:53
  then you fundamentally don't know what's going on.
• 26:55
  And then to Jack Mahler's point, and I love that, I'm pretty sure
• 26:59
  he's kind of quoting Max Kaiser, 'cause he said, I think he said
• 27:03
  something similar yesterday, and we brought it on the show.
• 27:06
  But historically, we know that when a country either adopts a
• 27:10
  hard money standard or is on a hard money standard, that their
• 27:15
  countries start to improve, they start to prosper, they start to
• 27:18
  innovate, they start to build things that last.
• 27:22
  And what are we doing here? What is basically every country
• 27:25
  in the world doing for the last 100 years is there literally
• 27:28
  building on on paper foundation the AKA Fiat monies.
• 27:33
  And we're starting to see the cracks in the system.
• 27:35
  We're starting to see that people are unplugging from the
• 27:37
  system. They're starting to look for
• 27:39
  alternatives. And you know Nika you asked a
• 27:41
  rhetorical question what what's what good is the IMF And someone
• 27:45
  said I I'd have to look up exactly what what they were
• 27:48
  quoting. But we're on the same yeah, like
• 27:51
  we have breaks. He goes International Monetary
• 27:54
  folds. We have Yaza Exiyaza
• 27:58
  International Mischief Foundation and before they
• 28:01
  posted, I came up with international mafia facilitators
• 28:04
  because it it it's like a it's like a contract with the mafia.
• 28:07
  Take our money and do what we have to do and that's what the
• 28:09
  IMF and that's what the world banks are doing.
• 28:11
  And now people are calling their bluff and This is why they
• 28:14
  attack El Salvador. This is why you're seeing that
• 28:18
  if you go against their narratives, they will do
• 28:20
  whatever they can to not only character assassinate the
• 28:24
  leaders, but fundamentally destroy what is happening in
• 28:30
  these countries. Because again, remember what
• 28:32
  Fiat means. It is a.
• 28:34
  Currency by decree, which means that all they really have is
• 28:37
  their lives, and as long as people fall into their
• 28:39
  narratives, then they can try to perpetuate and kick this can
• 28:42
  down the road for as long as possible.
• 28:44
  But bitcoiners are calling their bluff.
• 28:46
  Rather, Bitcoin is rather Satoshi called their bluff when
• 28:49
  he created Bitcoin. And for the last 15 years, we're
• 28:52
  seeing that people are waking up to building on a hard money
• 28:56
  standard, opting out of the Fiat games, not saving and melting
• 29:00
  ice cubes, not building on paper foundations, and and trying to
• 29:05
  acquire as much capital as possible, provide as much value
• 29:08
  as possible. And of course, the people in
• 29:10
  power do not like it. And that's what we're seeing
• 29:12
  right now. This is why you cannot listen to
• 29:14
  anything coming out from the legacy corporate media is
• 29:17
  because they are not incentivized to tell you the
• 29:19
  truth. They're literally incentivized
• 29:21
  to lie to you so that you get gaslit into whatever the current
• 29:24
  narrative is. And that's what we're seeing
• 29:26
  anyways. Aaron, what's your thoughts on
• 29:28
  this? Yeah.
• 29:29
  I mean you hit the nail on the head, right.
• 29:30
  So like the IMF is essentially just a group of loan sharks that
• 29:34
  get a country indebted to them, which basically like the the
• 29:38
  debtor is a slave to the lender, right.
• 29:39
  So they're trying to enslave entire countries at a time and
• 29:42
  they impose these rules on you. You have to, you know, you have
• 29:45
  to go environmentally, you have to do solar or whatever.
• 29:48
  You have to do like you can't burn coal, you can't drill for
• 29:50
  oil. All these things which like are
• 29:52
  actually really, really productive and boost GDP and
• 29:56
  help you pay, pay back the loan, right.
• 29:58
  So they basically they just want to control right and be enslaved
• 30:04
  essentially countries through debt and that's the whole,
• 30:07
  that's the whole point of Fiat anyway.
• 30:08
  So Fiat is like you said Fiat's by decree and Fiat money is debt
• 30:13
  based system. And so it's, I mean it's just
• 30:16
  this, it's the same game being played out everywhere where it's
• 30:21
  like you use our dollars suddenly you are in debt to us
• 30:24
  and then you know the United States can just print as many
• 30:27
  dollars as they want. And basically we end up in a
• 30:29
  situation where we've got to export all these dollars and
• 30:32
  then we then the United States can just buy things from other
• 30:35
  countries essentially for free. So like and this is this game is
• 30:40
  rapidly accelerating. El Salvador is trying to opt
• 30:43
  out. So they're saying we're going to
• 30:45
  move to, we're moving in the direction of a hard money
• 30:48
  standard where you actually have to earn the dollars that you
• 30:51
  want to spend instead of just printing them or essentially
• 30:54
  just, you know, taxing them through force from actually
• 30:57
  productive people. And it's this, it's this whole
• 30:59
  force that takes resources from productive people that know what
• 31:03
  they're doing, know how to allocate resources and provide
• 31:05
  value to other people in the economy, and then allocates them
• 31:08
  to the unproductive class who then spends them, which by the
• 31:12
  way, they don't know how to spend those dollars because they
• 31:14
  weren't smart enough to earn them in the 1st place.
• 31:17
  So yeah, the United States has got this massive unfair
• 31:19
  advantage in that we can just print dollars and buy whatever
• 31:22
  we want from the third world. And El Salvador is just they're
• 31:25
  just opting out. So Bitcoin is, it's the opt out
• 31:27
  answer. So like you know, people ask me
• 31:30
  like who are you voting for in the elections?
• 31:32
  Like well you know there's like option A, option B and then
• 31:35
  option C is opt out. And I say well you know, Bitcoin
• 31:38
  is the opt out and it's like the it's the, you know, it's the
• 31:42
  check box on the ballot that is invisible and you've got to,
• 31:46
  you've got to see Bitcoin in it and you know to be able to to be
• 31:49
  able to use it. So El Salvador's opting out.
• 31:52
  It's just a matter of time until other countries take the same
• 31:55
  route A. 100%, Yeah, 100. Man, Bitcoin zoomers are the
• 31:58
  best, yeah? Bro, they're they're just wow,
• 32:02
  you guys. You guys are savage.
• 32:03
  I mean, is he is he a zoomer, though?
• 32:07
  He's a millennial zoomer. He's a millennial zoomer zoomer.
• 32:11
  Wow, What a combo. What a combo.
• 32:12
  Wow, what a combo. Anyways, yeah bro, completely on
• 32:17
  .100%. I I hope, you know, I hope Nayan
• 32:20
  Bukele keeps doing what Nayan Bukele has been doing.
• 32:23
  Like I said, inspiration for the entire region.
• 32:26
  I do want to give it out to you. Our merch guys get it while
• 32:30
  supplies drop. I mean while supplies last.
• 32:33
  We teamed up with Bitcoin artists Asanoa and we have all
• 32:36
  these different variations. So the Peaceful Bitcoin
• 32:39
  Revolution T-shirt, Peaceful Bitcoin Revolution.
• 32:42
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• 32:51
  So yeah, get yours Stack Bitcoin first.
• 32:55
  But if you guys want to support the show, check out the this,
• 32:59
  check out this merch drop. And of course you can scan the
• 33:03
  QR code or check the link in the video description.
• 33:05
  All right, everybody, let's hit the news.
• 33:10
  The Daily News. I want to give a shout out to
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  the show notes below to learn more.
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• 34:23
  You want to take self custody? Get yourself a passport by
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  Foundation Devices. All right, everybody, let's get
• 34:31
  to the news today. So we have Martin Shreli
• 34:34
  Shkreli. I can never pronounce his name.
• 34:37
  I think it's. But this was posted on April
• 34:40
  1st, 2024 and he says I think there's a 75 percent, 75% chance
• 34:45
  of BTC being 1,000,000 by end by year end.
• 34:48
  I can't talk about the thesis, but that's it.
• 34:51
  My prediction anyway, so you go, someone responded.
• 34:55
  Says if BTC hit 1,000,000 by end of year then that would mean we
• 34:59
  reached a systemic collapse of Fiat confidence and likely the
• 35:02
  worst recession slash depression anyone alive has experienced.
• 35:06
  Retail FOMO slash ETFs alone can't drive a top like that over
• 35:10
  the short of a duration. I went on to say not necessarily
• 35:15
  though someone said man you need to make better April fools
• 35:19
  jokes. Some people might believe that
• 35:21
  and he said he went on to say it's not a joke.
• 35:25
  Someone else question if you know if there's another April
• 35:28
  Fools. So and he and he didn't anyways.
• 35:30
  So that's one talk that's one take.
• 35:34
  This is someone who you know. Of course you know he served
• 35:37
  jail time but he also very successful entrepreneur.
• 35:39
  He's built massive companies. So just something to think
• 35:43
  about. Also, of course we have the
• 35:46
  Samson Mao prediction as well. Samson has been extremely vocal
• 35:51
  about this. I have a clip from the What
• 35:53
  Bitcoin Did podcast with Peter McCormack and of course Peter
• 35:57
  McCormack asked Samson Mao about this.
• 36:00
  What's really interesting though is that Peter McCormack even
• 36:04
  dropped some of his what he anticipates Bitcoin to be at at
• 36:08
  the end of 2025. And for anyone who's new to
• 36:11
  Bitcoin, Bitcoin tends to follow these patterns of it tends to
• 36:15
  peak about 12 to 18 months after the halving.
• 36:19
  So around 2025 is if Bitcoin follows its previous history,
• 36:25
  that's usually when Bitcoin tends to peak.
• 36:27
  And then in 2026, it's a bear market.
• 36:29
  Now is it going to continue to follow that pattern now that the
• 36:33
  ETFs are involved? And of course, you know these
• 36:35
  halvings are having less and less in effect.
• 36:38
  I don't know. No one knows the future, but I
• 36:41
  thought this was a really interesting conversation and
• 36:43
  then we'll get some more data. So let's check out what Peter
• 36:47
  and Samson now had to say this year, Next year, because I had
• 36:51
  AI did NT yesterday, two days ago with checkmate.
• 36:52
  The last night guy, me and Danny, we all did a bet at the
• 36:54
  end 100K sats bet and mine was by the end of 25.
• 36:59
  I went for a top of 380. Danny went. 2. 50 I think
• 37:04
  Checkmate went 200 so we're we're all I mean I'm a third of
• 37:09
  yours there. All right, give.
• 37:11
  Me a thesis, The thesis is so many things.
• 37:18
  I mean the whole setup we have right now is perfect for a run
• 37:22
  up. You have demand far outstripping
• 37:25
  supply and supply about to be cut.
• 37:26
  You know, having is in a month and change, the ETFs alone are
• 37:32
  pulling in about 22,000, is in the net inflow about 3 1/2
• 37:39
  thousand a day. Yeah, yeah.
• 37:43
  So given that the exchanges have about 2.2 million, maybe less
• 37:49
  like last time it says 2.2, I think it's less and the demand
• 37:53
  is like 3-4 thousand a day just from ETFs alone.
• 37:58
  That doesn't leave us a lot of time to drain that pool of
• 38:02
  Bitcoin. Hold on, selling a year, if
• 38:05
  they, if they keep up at the same demand, all those, I said
• 38:08
  we're having a new record days, aren't we 365 and 4000, I mean
• 38:15
  that's 1.4 million, that's nearly 1.5 million a year.
• 38:17
  Yeah. OK.
• 38:18
  I see your thesis. So demand is like 10X now it's
• 38:22
  going to 20X. So the price should react
• 38:25
  accordingly. Even if that doesn't happen, you
• 38:28
  have the concept of the Veblen effect and the Veblen threshold,
• 38:33
  which is the Veblen effect. Veblen is the Veblen goods are
• 38:38
  what were theorized like a luxury good is valuable because
• 38:43
  it is valuable, but I just twisted a bit and call it a
• 38:47
  Veblen effect. But as Bitcoin becomes more
• 38:49
  valuable, it just becomes more desired because it is valuable
• 38:53
  and there's a threshold at which you cross.
• 38:55
  I think that threshold is probably parity with gold market
• 38:58
  cap which is about 4:50 to $500,000 a coin.
• 39:02
  Once you cross that Veblen threshold, you start to
• 39:06
  demonetize gold because now this thing is gold.
• 39:09
  It's a multi trillion dollar, we're already trillion but like
• 39:13
  eight $12 trillion market cap. Then you start to eat into gold
• 39:18
  because people see it as equivalent to gold.
• 39:21
  It's the new gold and I think the the media narratives will
• 39:24
  say the same thing. That's an important threshold.
• 39:27
  When we pass gold, that's at the point at which gold starts
• 39:31
  dropping and people start moving the value of they stored in gold
• 39:35
  into Bitcoin. I think that's already happened
• 39:38
  in the sub as well. I think so, but it'll happen on
• 39:42
  mass when you outstrip gold. Rest in peace, Peter Schiff.
• 39:48
  All right, so I want to know what you guys think.
• 39:50
  In fact, I asked you guys last night when I was thinking about
• 39:55
  what to make the next day's episode on.
• 39:59
  And a quick little refresh there.
• 40:00
  Wow, we got 100 votes in literally the last hour.
• 40:04
  And I said, how long will it take Bitcoin to reach $1 million
• 40:08
  per coin? 9% of you guys said one year
• 40:11
  that only 9% of you guys agree with Samson now?
• 40:16
  23% of you said two to four years, 34 this is the majority.
• 40:22
  Think it's going to take four to six years for Bitcoin to reach
• 40:26
  $1 million per coin. 20% of you said 6 to 10 years and 14% of
• 40:33
  you guys, the second smallest category says 10 plus years.
• 40:38
  So very kind of interesting. A lot of people, you know, are
• 40:41
  saying that $1 million by 2024 is a bit too bullish.
• 40:46
  By 2025 it's a bit too bullish, but still, I mean, no, what's 9
• 40:53
  + 23, that's 32%. I mean start a small number,
• 40:59
  right? They have the, you know, I I
• 41:01
  can't help but to the end. Again, this is not on purpose,
• 41:03
  but if you want to be a millionaire, they had one of the
• 41:07
  one of the options. If you guys are way too old for
• 41:10
  that show. But one of the options if people
• 41:13
  were kind of stuck in the questions was, you know, ask the
• 41:16
  crowd and and the crowd generally me what the right
• 41:19
  answer is. And that goes to the wisdom of
• 41:22
  the crowds theory, right? So, you know, the crowd
• 41:25
  generally thinks right now that it's going to take another four
• 41:28
  to six years for Bitcoin to reach $1 million per coin.
• 41:33
  I don't know about Udopi, but I'm OK with that and sounds
• 41:36
  pretty nice. So anyways, I I want to know
• 41:39
  what you guys think, especially what Samson was saying on Peter
• 41:42
  Mccormack's, what Martin Shkreli was saying.
• 41:45
  I think I finally said his name, right.
• 41:48
  You know, do you agree with the poll which is currently live
• 41:50
  right now? If you go to the Simply Bitcoin
• 41:52
  YouTube channel, you go to the community section, the poll's
• 41:55
  currently live. And again, let's kind of
• 41:59
  breakdown a little bit of the math, right?
• 42:01
  So 2017 I think is you know basically I'm class of 2016,
• 42:08
  Opti's class of 2017. So it was like our era.
• 42:11
  We remember that that's the last time Bitcoin had an epic blow
• 42:15
  off top type of bull market. The 2021 one, I'm not going to
• 42:19
  lie, I think was a little bit of a a let down.
• 42:21
  Like I mentioned in the beginning of the show, I think
• 42:24
  it was artificially cut short because of the China mining ban,
• 42:29
  because of a lot of these factors, so to speak.
• 42:33
  So well, let's talk about it. So in 2017, Bitcoin went from
• 42:37
  $1000 to $20,000 in 365 days and that's about a 20X.
• 42:44
  So we have to take into account the law of big numbers.
• 42:48
  It's a lot harder for Bitcoin to go from 70K to 140K than it was
• 42:55
  for Bitcoin to go from 1K to 2K, just because it's a much bigger
• 43:00
  number, right? So we have to take that into
• 43:02
  account. However, we could still kind of
• 43:05
  talk about it, right? So the beginning of 2024, the
• 43:11
  price of Bitcoin was at 42,000. If Bitcoin were to 20X like in
• 43:15
  2017, that would put the price of Bitcoin AT140K by the end of
• 43:21
  the year. Do I think that's gonna happen?
• 43:24
  It's unlikely. In my opinion, 22 again.
• 43:28
  How about if Bitcoin just did half of that?
• 43:31
  Well, 42K10X would be 420 K That would be poetic.
• 43:38
  The last one that I did, which is 42 K times 5, puts it about
• 43:44
  210K, right? And again, if you take into, if
• 43:49
  you take into account right, the law of big numbers, the fact
• 43:52
  that it takes Bitcoin a lot longer time to do these types of
• 43:56
  things, you know, that kind of makes a little bit more sense in
• 44:01
  my opinion, right. So I don't know at the end of
• 44:04
  the day, you know, these are kind of influential people
• 44:08
  throwing out some kind of a speculative things and we've
• 44:12
  done episodes like this in the past and it seems like you guys
• 44:15
  enjoy this types of content. So I think it makes for a good
• 44:19
  conversation and not to mention the fact that you had some
• 44:22
  heavyweights in here. Of course you have the famous
• 44:24
  Max Kaiser prediction of 220K and of course you have the atom
• 44:29
  back prediction of 100K. By having I don't think that's
• 44:32
  gonna come. I mean unless we hit 100K in 10
• 44:35
  days which would be absolutely epic, that would be quite a rib.
• 44:39
  I wanna know what you guys think.
• 44:41
  Let us know down in the comments.
• 44:42
  If you guys are watching the prerecorded version of the show
• 44:45
  on X or Rumble, put put it down in the comment what you guys
• 44:48
  think you guys think are crazy. That poll is still alive, I
• 44:52
  might add. So make sure to vote on it.
• 44:54
  Go to YouTube, go to the community, community section and
• 44:57
  you can vote on it. But I want to know what you
• 45:00
  think Opti. I mean, I think it's too
• 45:02
  bullish, brother. I think, yeah, like rave
• 45:04
  elevator, $1 million God candle, the ultimate supply dump for
• 45:08
  paper. Hands don't fall for it.
• 45:11
  So yeah, I mean, what? What do you think, Opti?
• 45:13
  Are you are you going to get a Cougar once Bitcoin hits?
• 45:17
  Hopefully, hopefully. Get a cheetah in two years.
• 45:19
  This is this is life goals. No one thing.
• 45:22
  One thing I do want to touch on before I give you guys my price
• 45:25
  predictions. Or rather whether I think these
• 45:27
  price predictions are stupidly bullish.
• 45:30
  Samson Mao brought up Peter Schiff and I'm pretty sure my
• 45:34
  numbers are correct. I saw this on Twitter yesterday,
• 45:36
  but apparently Peter Schiff's Gold Fund is literally at 0%
• 45:42
  returns from 10 years ago. Like he hasn't made any money
• 45:46
  for his clients. If they're if they're huddling
• 45:48
  their gold for the last 10 years, like absolutely
• 45:51
  devastated. I don't know why we even talk
• 45:53
  about Peter Schiff anymore. You know he he's right on a lot
• 45:56
  of things in regards to like the libertarian Austrian economics
• 46:00
  thesis. But I I think he's just he's got
• 46:03
  sunk cost fallacy when it comes to gold.
• 46:05
  Anyways one thing that I do want to mention before I go into my
• 46:09
  my take on this that 2K poll Nico it's it's statistically
• 46:14
  relevant in regards to legacy journalism so you know shouts
• 46:19
  out to everyone that comments on that.
• 46:21
  It looks like we can finally get some polls out here and and
• 46:24
  actually like in seriousness gauge on what is going on in the
• 46:29
  zeitgeist out there. So 2K votes.
• 46:31
  I'm pretty sure it's 2K. So it says like what the general
• 46:34
  marker is for statistical relevance.
• 46:36
  It might be 2.5 K, but absolutely statistically
• 46:40
  relevant polls, and I've been trolling on that idea for a long
• 46:43
  time. Because I do polls like a
• 46:44
  hundred, a hundred response, I'm like statistically relevant, but
• 46:46
  2K is actually statistically relevant data.
• 46:50
  Anyways, I think it's very interesting that the consensus
• 46:54
  is, is four to six years like to me that seems kind of
• 46:58
  reasonable. It's what, one cycle away to get
• 47:01
  to $1 million Bitcoin, And that doesn't even factor in the fact
• 47:05
  that maybe in the next four to six years we will see some kind
• 47:08
  of catastrophic Fiat debacle. That's just literally Bitcoin
• 47:14
  for the next four to six years. A million Bitcoin, $1,000,000
• 47:16
  per Bitcoin seems pretty reasonable to me.
• 47:18
  So you know, $1,000,000 Bitcoin all right, next cycle sounds
• 47:23
  pretty plausible in my opinion. And of course, price predictions
• 47:27
  are fun. We all like to get bullish.
• 47:28
  We all like to speculate. But I find it interesting that
• 47:33
  in reality, at least as far as I kind of think about, like the
• 47:36
  Fiat price doesn't matter. What really matters here is you
• 47:38
  guys accumulating as much Bitcoin as possible.
• 47:41
  We know historically that Fiat currencies are always doomed.
• 47:45
  They will fail eventually. This is what happens when you
• 47:49
  use a paper currency. This is what happens with world
• 47:52
  reserve currency status that usually lasts, I think.
• 47:55
  I think Fiat currencies only last around like 50 to 70 years
• 47:58
  and world reserve currencies roughly around 250 years.
• 48:01
  So either way we're hitting those timelines.
• 48:05
  So there is only one alternative.
• 48:08
  Rather, there is no alternative, it is Bitcoin.
• 48:11
  You want to hold some Bitcoin because we know this will happen
• 48:14
  eventually. Fiat currencies will fail
• 48:16
  eventually that the Fiat currency hegemony will start to
• 48:20
  crumble. And I do think that we are in
• 48:23
  that 4th turning era like we are in a new era and Bitcoin is
• 48:28
  starting to solidify itself as one of the strongest base monies
• 48:32
  in the world. I I keep mentioning that number,
• 48:34
  that Bitcoin is the 5th largest base money in the world and it's
• 48:38
  only at $1 trillion market cap or $1.2 trillion market cap.
• 48:42
  So you know, again going to my price predictions and and kind
• 48:47
  of my analytics on this and and you guys know I I get stupidly
• 48:50
  bullish, but I understand that I I can't just spit numbers out
• 48:54
  here because people will will absolutely wreck themselves
• 48:57
  because they think Bitcoin's going to a million in a year or
• 48:59
  two. Now that seems a bit far
• 49:02
  fetched, but just going through like you know, thinking through
• 49:05
  this process, you know bitcoin's at what, 70K right now, 70K to
• 49:10
  six figures is less than a 50% move, which I think in the next
• 49:13
  year or two is, is bitcoin's going to overshoot that?
• 49:16
  I think historically Bitcoin has about 150% returns every year.
• 49:21
  So I I think within the next two years, you know Bitcoin to six
• 49:25
  figures is it's going to be just a crazy run.
• 49:29
  And you know, considering all the factors that Samson Maus
• 49:34
  covered that we've been covering for a while, I think Bitcoin is
• 49:37
  going to make an epic run. You know, we have institutional
• 49:40
  demand from Wall Street, we have high net worth individuals
• 49:44
  finally seeing Bitcoin as a legitimate investment, a
• 49:48
  legitimate asset, you know, we're going to have to work on
• 49:51
  them as understanding it as money.
• 49:52
  But you know, once BlackRock has basically quote, UN quote gave
• 49:56
  Bitcoin legitimacy, all the high net worth individuals out there
• 49:59
  now have to take an honest look at Bitcoin and they don't move
• 50:03
  quickly. So I'm sure a lot of people are
• 50:05
  still doing their due diligence and once they finally take that
• 50:09
  leap, they're not gonna be doing what we do and stack you know,
• 50:11
  $100 a week. They're gonna be stacking like
• 50:14
  millions to multiple millions of dollars and just, you know, Fiat
• 50:19
  capitulation moves. So once those light bulb moments
• 50:22
  come off for these high net worth individuals, they're gonna
• 50:24
  be buying Bitcoin at like 100 million dollar chunks at a time.
• 50:28
  And I don't think we fully can wrap our minds around the idea
• 50:33
  of a finite money, a finite asset that is Bitcoin.
• 50:38
  And then adding on top of that, as Bitcoin starts to move and
• 50:42
  Bitcoin starts to make it to run past all time highs and goes
• 50:45
  into the six figures, I think we're going to see a huge retail
• 50:49
  FOMO move. I think people are going to
• 50:52
  start to FOMO into Bitcoin. One thing I've learned
• 50:55
  throughout my time in Bitcoin is people love to buy Bitcoin when
• 50:59
  the price starts running and then they get terrified when it
• 51:02
  drops. And I'm always like if you love
• 51:03
  Bitcoin when it's at all time highs, you should love it when
• 51:06
  it's at all time lows. Or rather you know, when it's
• 51:09
  doing its dip. Like nothing has fundamentally
• 51:11
  changed in Bitcoin, so people are starting to wrap their head
• 51:17
  around the idea of what Bitcoin is.
• 51:18
  Of course I always say the Bitcoin price is a real time
• 51:21
  metric of people's understanding of Bitcoin and I think Bitcoin
• 51:25
  AT70K is just is totally undervalued.
• 51:28
  I think Bitcoin even under 6 figures is totally undervalued.
• 51:32
  And so again, I also jokingly say that I love to counter trade
• 51:36
  Bitcoin Twitter, just it's kind of like my trolley thing.
• 51:39
  So you know if we're getting stupidly bullish at 1 mill right
• 51:43
  now and reminded what happened at 100K went to we all were
• 51:48
  thinking it's gonna go to 100K and it only with the 70K.
• 51:51
  So if everyone's saying $1 million Bitcoin by this year or
• 51:54
  next year, then I'm gonna just go with okay 700K Bitcoin.
• 51:59
  No math behind this. We're gonna take Opti off air.
• 52:02
  We explicitly don't do the price predictions on.
• 52:05
  Central but hey, I'm counter trading.
• 52:09
  Anyways, but it seems like you guys enjoy this content.
• 52:12
  So if you guys enjoy the content, we make more type of
• 52:15
  the this content. If you guys don't enjoy this
• 52:17
  type of content, please let us know down in the comments
• 52:19
  because after all, we tried to make our audience happy.
• 52:22
  Anyways, Aaron, what's your take on this man?
• 52:25
  So it's just a bunch of hopium. I mean you have some.
• 52:28
  Again, like we don't speculate ourselves on simply Bitcoin, but
• 52:32
  every time you have notable respectable figures in the
• 52:35
  Bitcoin community. Of course like Samson Mao and I
• 52:38
  don't know but Martin Shkreli I mean this is someone who is you
• 52:44
  know successful obviously he's had his legal problems but you
• 52:47
  know when he when he says sometimes some some types of
• 52:50
  things like that you know I think it's important to take
• 52:53
  notice Sometimes I think looking away is is I wouldn't call it
• 52:58
  idiotic but let's say it wouldn't be wise.
• 53:00
  I think it's important to take all of these things into
• 53:02
  consideration. So I wanna, I wanna know what
• 53:05
  the the Zoomer Millennial thinks.
• 53:08
  What's your what are your thoughts on this Aaron?
• 53:10
  You know it's this pure hopium. Are these numbers nonsense?
• 53:14
  I can't. Look, the law of big numbers is
• 53:16
  real, right? It's a lot harder for Bitcoin to
• 53:18
  double at 68,000 than it was for Bitcoin to double at one Ki.
• 53:24
  Don't see why it's hard. I mean, oh, oh, oh, I think.
• 53:29
  Am I missing something? Oh, I think it's the, you've got
• 53:36
  to hit the things really start to take off in the like in the
• 53:38
  South curve of adoption. So basically that's the point
• 53:40
  where things start to go vertical.
• 53:42
  I mean every technology that's been adopted over the last, you
• 53:45
  know, 100 years has this kind of like you know, slow phase of
• 53:48
  early adopters. We're kind of leaving that right
• 53:50
  now, especially with the ETFSI think the ETF signaled the end
• 53:53
  of the early adopters and then you got to go into the vertical
• 53:56
  part where you go from 10% to 90% adoption on a technology.
• 54:00
  I think Bitcoin is going to hit that at some point.
• 54:02
  So you know $1,000,000 if not this cycle, the next cycle.
• 54:07
  So and there's there's tons of things that can kind of indicate
• 54:10
  that as well. So like currently.
• 54:12
  We're kind of. Entering a a left shifted
• 54:17
  Bitcoin bull market. So we're entering into new all
• 54:19
  time highs before the halving which is something that hasn't
• 54:23
  happened before. We've also got you know
• 54:26
  unprecedented money printing and that money has to go somewhere.
• 54:29
  A lot of it's lashing around in the stock market but it makes
• 54:32
  sense that you know with with this valve, escape valve of
• 54:36
  money out of the stock market essentially you know into the
• 54:40
  ETFs proxy into Bitcoin right that we're going to we're at
• 54:46
  some point we're going to go into this vertical sort of
• 54:49
  adoption phase. So yeah, a million Bitcoin isn't
• 54:52
  isn't that crazy. I think too the nation states
• 54:56
  are. You know, El Salvador is the
• 54:57
  first one that we know of that's starting to do this.
• 55:00
  But there are other countries and state actors that are solely
• 55:04
  accumulating Bitcoin and the real key thing to think about
• 55:08
  there is that they want to do that silently.
• 55:11
  They don't want to advertise that because as soon as they do
• 55:14
  advertise that then it's an all out arms race.
• 55:17
  And so you know, to Sam, you know Samson's point like he he's
• 55:21
  the guy that's like behind this Omega candle idea, a nation
• 55:25
  state arms race to buy as much like print, devalue the currency
• 55:29
  and buy as much Bitcoin as possible.
• 55:30
  It's something that's going to happen at some point in the
• 55:32
  future. Whether it happens this cycle,
• 55:34
  next cycle, the cycle after is to be determined.
• 55:38
  But there's also like there's tons of other factors that are
• 55:40
  just that I don't think are really fully understood in terms
• 55:44
  of all these price predictions. So like AI, but actually I think
• 55:49
  it's going to have a huge boost to productivity.
• 55:51
  I know it's like Hype cycle right now, but it the the the
• 55:56
  impact is real. Like as a developer, I've used
• 55:59
  AI tools to help myself code and I know that these things are
• 56:03
  just getting better and better. So, you know, it's going to make
• 56:06
  the world more productive. There's going to be more demand
• 56:08
  trying to buy the scarcest asset that's ever been created.
• 56:12
  And so yeah, I mean, it's kind of a perfect storm scenario for
• 56:14
  Bitcoin. 100%, I think. I think that can't be stated
• 56:19
  enough, right? I think that we're entering into
• 56:21
  this perfect storm type of scenario, but again, what we
• 56:25
  advocate for at the end of the day on simply Bitcoin to stay
• 56:28
  humble stack Sats. Anyways, So I do want to get
• 56:32
  through this pretty quickly so that we can get on to the
• 56:35
  culture and speak to Aaron Opti. I think we're gonna have to push
• 56:38
  the meme review so that we can do it in person.
• 56:42
  Tomorrow we do this. Live.
• 56:43
  Sorry guys, It's. Coming Friday in Texas?
• 56:45
  No, let's do it in person in Texas tomorrow, 'cause I think
• 56:49
  that would be hilarious. A lot of people were enjoying it
• 56:51
  when Opti and I were doing the show together in person.
• 56:55
  Said the dynamic was nicer. I agree with that, Opti.
• 56:57
  I agree with that Studio Soon TM.
• 57:01
  Anyways, so this is an article by Zero Head Zero Hedge Federal
• 57:05
  Reserve uses to provide records of foreign gold holdings, weeks
• 57:10
  after Federal Reserve Chairman Jerome Powell evaded a sitting
• 57:12
  congressman's questions about the central bank's foreign gold
• 57:16
  holdings. The Fed has also declined to
• 57:19
  comply with a Freedom of Information Act request for
• 57:22
  records about such holdings. The Federal Reserve's lack of
• 57:25
  transparency comes amidst reports that countries are
• 57:27
  removing their gold and other assets from the US in the wake
• 57:31
  of the unprecedented Western sanctions imposed on Russia over
• 57:35
  its invasion of Ukraine. According to a 2023 Invesco
• 57:39
  survey, a quote substantial percentage of central banks
• 57:43
  expressed concerns about how the US and its allies froze nearly
• 57:47
  half of Russia's $650 billion gold and forex reserves.
• 57:52
  Representative Alex Mooney asked Powell about the matter in a
• 57:55
  December letter, only to have the Fed chair respond last month
• 57:59
  with evasive non answers telling him that the Federal Reserve
• 58:02
  does not own gold but holds it as a custodian for other
• 58:07
  entities, a fact that the Congressman presumably already
• 58:10
  knew. Following Powell's evasive
• 58:12
  response headline, USA filed a Freedom of Information Act
• 58:16
  request with the Fed for records reflecting how much gold the
• 58:20
  Federal Reserve Bank of New York currently holds in its vaults,
• 58:23
  as well as records reflecting the ownership stake that each of
• 58:27
  the Federal Reserve Bank central bank slash government clients
• 58:30
  have in that gold. The Freedom of Information Act
• 58:33
  request also sought records about the Fed's gold holdings
• 58:36
  prior to Russia's February 2022 invasion of Ukraine.
• 58:41
  However, the Federal Reserve denied the FOIA request on
• 58:44
  Wednesday. Quote Board staff consulted with
• 58:47
  staff at the Federal Reserve Bank of New York and has been
• 58:50
  have been advised that such records, if they exist, if they
• 58:53
  exist, would be Reserve Bank records and consequently not
• 58:57
  subject to the Board's rules regarding availability of
• 59:00
  information. The Federal Reserve said that
• 59:03
  the publication could take its request to the New York Fed.
• 59:06
  However, that the institution isn't subject to the Freedom of
• 59:08
  Information Act. So if it's not, I'm confused.
• 59:11
  So it's not a federal agency, then why is it called Federal
• 59:14
  Reserve? Headline USA is working on an
• 59:17
  appeal. Meanwhile, sound money advocates
• 59:20
  are blasting the Fed's lack of transparency.
• 59:23
  They're just passing the buck to the New York Fed.
• 59:25
  The FRB could obtain the data from the New York Fed if it
• 59:28
  wanted to, and then could share it with you if it wanted to do.
• 59:32
  the Fed chairman has already essentially told Representative
• 59:34
  Moody that the Fed doesn't want to disclose the information.
• 59:37
  OK, so we have that right. We also know that the last time
• 59:44
  there was any types of pictures or like actual, like recorded,
• 59:50
  like any type of recordings from the actual gold that supposedly
• 59:56
  is held in Fort Knox, which was explicitly built for the six 102
• 1:00:01
  order when FDR made it illegal for Americans to hold gold
• 1:00:05
  bullion. The last time anyone saw any of
• 1:00:09
  that was in 1974. Apparently they hold audits
• 1:00:12
  every single year. But it's kind of like here's
• 1:00:15
  what the audit is kind of trust us.
• 1:00:17
  Take a look at their attitude when you know the Freedom of
• 1:00:21
  Information Act was literally designed.
• 1:00:24
  Literally after 911. So that government would
• 1:00:27
  disclose certain types of things that the government is doing,
• 1:00:31
  which again, it's supposed to be a government by the people, for
• 1:00:35
  the people. This is what Jack Mahlers was
• 1:00:36
  saying earlier. This is what I said yesterday
• 1:00:38
  when we did the episode on Elon Musk in Brazil and the Twitter
• 1:00:42
  files and all that stuff. Like if the government isn't
• 1:00:46
  even accountable to the people that it supposedly represents,
• 1:00:49
  the people that is supposedly funding that government.
• 1:00:51
  Like, I mean we have issues here, right?
• 1:00:54
  And I just want to compare and contrast, right?
• 1:00:56
  This is what the Federal Reserve is doing.
• 1:01:00
  This is what Naimbu Kayla is doing.
• 1:01:02
  Now I know it's not an apples to apples comparison because you
• 1:01:07
  know, again they're talking about foreign reserves.
• 1:01:11
  But what I got to say about that is like, bro, like dude, like
• 1:01:13
  look like, OK fine, quote, UN quote foreign reserves, but
• 1:01:18
  they're not even doing this with their own reserves, right?
• 1:01:22
  And then compare and contrast that with what Naeem Bukele did
• 1:01:25
  in El Salvador when he took the vast majority of El Salvador's
• 1:01:31
  Bitcoin reserves and he made that address public, which
• 1:01:36
  allows anybody and anybody who is running a Bitcoin node.
• 1:01:41
  By the way, I recommend start 9 the the discount code is in the
• 1:01:44
  video description. That's the one I personally run.
• 1:01:47
  It's absolutely badass. The Start 9 server pier.
• 1:01:50
  Or you could use mempool, right? And you could use someone
• 1:01:52
  else's, you know, someone else's copy of the blockchain and you
• 1:01:56
  could look up that address and it will show you El Salvador's
• 1:01:59
  gold reserves. I mean, sorry, Bitcoin reserves
• 1:02:02
  like for everyone to see. And then when they did that, it
• 1:02:05
  kind of led me to some realizations.
• 1:02:08
  First I said the historical significance and geopolitical
• 1:02:11
  implications of President Buchelli posting El Salvador's
• 1:02:13
  proofs of reserves can't be understated.
• 1:02:16
  Nothing will ever be the same. Everything just changed.
• 1:02:20
  I said I will not take any other country's criticism of El
• 1:02:23
  Salvador seriously until they make their reserves fully
• 1:02:26
  transparent. We had a Bitcoin podcaster who
• 1:02:30
  asked how so and I said it's it's it's obvious, like just use
• 1:02:34
  common sense. I said it's a lot harder.
• 1:02:36
  It's a lot harder to steal things when everyone is looking.
• 1:02:41
  And then this leads me to the inevitable conclusion.
• 1:02:44
  If El Salvador can be transparent with their reserves,
• 1:02:47
  why can't the United States government?
• 1:02:50
  Why can't we see the gold? I'm going to say that again.
• 1:02:53
  Why can't we see the gold? Why are they having such a hard
• 1:02:57
  time? Like, why can't they see?
• 1:02:59
  Why can't we see the gold, even with the Freedom of Information
• 1:03:03
  Act, even with whatever. Why has the last time someone
• 1:03:07
  been able to to visit Fort Knox? Why has it?
• 1:03:10
  Why was it in 1974? Is there really gold there or
• 1:03:15
  has it been spent? Where's the gold?
• 1:03:17
  That's what I got to say. Where's the gold?
• 1:03:19
  You know, So anyone who criticizes El Salvador on
• 1:03:23
  whatever they're doing, on whatever their, you know,
• 1:03:26
  decision, processes and whatever, look at the
• 1:03:29
  obfuscation from apparently, you know, the government of the
• 1:03:36
  world, the government that everyone is supposed to be
• 1:03:38
  looking up to the United States, right?
• 1:03:43
  I I think they have to eat their words.
• 1:03:44
  And then one other observation is the law of unintended
• 1:03:49
  consequences. This is what happens when you
• 1:03:52
  weaponize money. They frost.
• 1:03:55
  They froze Russian assets after the war in Ukraine, whatever you
• 1:03:58
  think about that, right? But they froze Russian assets
• 1:04:02
  that weren't theirs because of political decisions that Russia
• 1:04:06
  made. Whether you agree with it or or
• 1:04:08
  disagree, like at the end of the day that has unintended
• 1:04:12
  consequences. When you weaponize money, don't
• 1:04:16
  blame other people to seek alternative money.
• 1:04:20
  And then especially don't get mad at them for seeking
• 1:04:23
  alternative money in the 1st place, right?
• 1:04:25
  And then I gotta say, bitcoin's a one way door, right?
• 1:04:29
  Once someone opts out to Bitcoin which is censorship resistant,
• 1:04:33
  which is hard to confiscate. I mean, are you gonna go back to
• 1:04:38
  political money? That's the question that I'm
• 1:04:39
  gonna leave with you guys. Anyways.
• 1:04:41
  I'm gonna pass it on to Aaron and then Opti.
• 1:04:45
  The only way to really have a, an audit that you can trust or
• 1:04:48
  anything trust, right, is to have a third party do it.
• 1:04:51
  So obviously they'll never do that.
• 1:04:53
  You know, another U.S. government agency that
• 1:04:56
  continually fails their audits is the Pentagon.
• 1:04:59
  I mean by like, you know, magnitude, trillions of dollars,
• 1:05:02
  right. And this is like AI don't know,
• 1:05:04
  did another article come out? Like it's a, it's a yearly thing
• 1:05:07
  for them. It's like a, you know, a
• 1:05:08
  humiliation ritual. But it's probably they don't
• 1:05:11
  find it that humiliating, but it's just like, you know, tap
• 1:05:14
  the sign. Like they keep failing.
• 1:05:15
  They will continually fail the audit.
• 1:05:17
  It's like obvious and so yeah, like the gold, who knows whether
• 1:05:23
  it's there or not, you can't trust any, you know, non third
• 1:05:26
  party audit anyways. It's probably not there or
• 1:05:29
  they're probably probably paid off people that they need to pay
• 1:05:33
  off behind the scenes and then they just can't admit it's the,
• 1:05:35
  you know, the population. So the one thing that we can see
• 1:05:39
  is like the money supply, you know, like M2 is just like a you
• 1:05:43
  put it on a log chart and it's a straight line, right?
• 1:05:45
  So it's scaling in an exponential way and it's
• 1:05:48
  something that we've got to really wrap our heads around.
• 1:05:50
  100 percent, 100% What's your take on this before we get to
• 1:05:53
  the culture? Yeah, well, you know, if only
• 1:05:57
  there was a hard money that you can verify running a node, you
• 1:06:02
  know, where's my Fort Knox node? Because I don't trust them and
• 1:06:05
  I'm trying to verify. And of course, they're literally
• 1:06:07
  doing the opposite of just trust us, bro, like, you know, verify.
• 1:06:11
  Just trust us bro like. Don't trust, don't like, Don't
• 1:06:15
  verify. Trust.
• 1:06:16
  Just. Trust.
• 1:06:16
  Just like, trust us, bro. We got your best intentions of
• 1:06:18
  mine. You know the gold's there, bro.
• 1:06:20
  Like, trust me. Like we.
• 1:06:21
  We we stole. We stole it from you.
• 1:06:23
  And literally, we literally seized it from you.
• 1:06:26
  We gave you super muddy in return and when you're like, OK,
• 1:06:29
  you said you were going to hold on to this because you're the
• 1:06:32
  government. We can't even see it.
• 1:06:34
  Like, it's so crazy to me. Like, think about it, like, do
• 1:06:37
  you re where's the gold? Is it really there?
• 1:06:40
  Is it really there? I'm going to.
• 1:06:41
  Double down. And forgive me, guys, for
• 1:06:43
  putting my tinfoil hat on, but the gold's not in Fort Knock.
• 1:06:46
  Yeah, it's not there. Like let's.
• 1:06:48
  Believe it's. Not there.
• 1:06:49
  Let's be honest here. Guys like you know, except
• 1:06:52
  reality. It's not in Fort knocked.
• 1:06:54
  It's OK, guys. You don't have to trust them.
• 1:06:57
  Start buying Bitcoin because of these reasons.
• 1:07:00
  This is exactly why we are bitcoiners.
• 1:07:02
  Guys like this is the the very reason why we are opting out of
• 1:07:07
  the Fiat system. Because, you know, Nixon rug
• 1:07:09
  pulled the gold in 71 like we've been.
• 1:07:12
  We've been off a gold. You know what blows my mind,
• 1:07:15
  Nico? Let me, let me so you guys can
• 1:07:17
  see my you know what blows my mind, Nico?
• 1:07:19
  Is a number of people that still believe we're on a gold standard
• 1:07:23
  in normie populations is like, it's a significant number.
• 1:07:27
  People still think that the dollar's backed by gold and
• 1:07:29
  you're like, Oh my goodness, like, this is the level of
• 1:07:31
  education that we're dealing with.
• 1:07:33
  Guys like, they're the dollar's not backed by gold.
• 1:07:35
  There's no gold in Fort Knox. And there is only one
• 1:07:39
  alternative. It is Bitcoin.
• 1:07:40
  Do you want to trust a small cabal of people with your, with
• 1:07:44
  your money? It's like, no, This is why I'm a
• 1:07:46
  bitcoiner, because I don't have to trust anyone.
• 1:07:48
  I run a node and I can verify what's going on in the monetary
• 1:07:52
  network. And the more of us that run
• 1:07:55
  nodes that run the Bitcoin software that participate in the
• 1:07:58
  Bitcoin network, the more there's transparency in what's
• 1:08:03
  going on with the money. And again, I say it all the
• 1:08:05
  time, It's always about the money.
• 1:08:06
  It would always be about the money.
• 1:08:08
  And the more they tried to obfuscate what's happening with
• 1:08:11
  the money, the more you can be, the more the more you know that
• 1:08:16
  they are fucking with the money. Like the more they they try to
• 1:08:18
  hide what's happening with the money, the more you know that
• 1:08:21
  they're manipulating the money. And at this point, guys, this is
• 1:08:24
  historical too. This is this.
• 1:08:25
  This isn't even like throwing shade at the Fed necessarily,
• 1:08:29
  but this is how we got paper notes in the 1st place, You
• 1:08:32
  know, shouts out to the OG gold holders, the OG goats, Goldsmith
• 1:08:37
  that were creating bars and coins.
• 1:08:39
  And then people just didn't want to use the gold technology
• 1:08:42
  because it was too clunky, it was too heavy and it was hard to
• 1:08:45
  save. So they put them in the gold
• 1:08:47
  vaults, You know, they put them in the blacksmith gold vaults,
• 1:08:50
  and then after a while they started to give them gold
• 1:08:52
  certificates and then those gold certificates got cut off from
• 1:08:55
  the gold standard. And then you're literally just
• 1:08:57
  using paper IOU. Like This is why we Bitcoin in
• 1:08:59
  the 1st place. Because historically speaking,
• 1:09:02
  we've seen this happen over and over and over again and and Nico
• 1:09:07
  trolls me all the time because I'm, I usually joke.
• 1:09:09
  It's like, guys, if you were giving me your gold and you
• 1:09:11
  didn't come back after 10 years, like it'd be hard for me not to
• 1:09:14
  just take a little. Bit of the gold and be like
• 1:09:15
  trust me, don't trust, don't trust Opti with your money,
• 1:09:19
  trust. Opti, verify and run the Bitcoin
• 1:09:22
  network for yourself. Because literally like I'm
• 1:09:24
  human, I understand myself. I'm like yo look as much as I.
• 1:09:29
  Take something. Don't trust Opti.
• 1:09:31
  Don't trust government As much as I think I'm an ethical
• 1:09:34
  person. I understand the incentive
• 1:09:37
  structure here. And if you didn't, you know.
• 1:09:40
  You store your gold. In Optis Vault for 20-30 years,
• 1:09:44
  at a certain point you're like, oh, he's never coming back.
• 1:09:46
  He's OK with his gold certificate.
• 1:09:48
  Let me just take like a little bit and I'll pay you back.
• 1:09:50
  I swear. It's called fraud.
• 1:09:51
  We've seen this happen with MTX. We've seen it happen over and
• 1:09:54
  over and over again. Guys, humans are no better than
• 1:09:56
  their incentives. This is why we're bitcoiners.
• 1:09:59
  That we don't get tempted by messing with the money like This
• 1:10:03
  is why we're doing what we do anyways, Grant over.
• 1:10:06
  It's almost as if you're saying don't trust someone else with
• 1:10:09
  your money. Anyways, I do want to give a
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• 1:10:33
  it's kind of lonely in a way because once you adopt A Bitcoin
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  standard, all of a sudden you don't have a lot of things in
• 1:10:40
  common. Your Fiat friends, they don't
• 1:10:41
  really speak the same language anymore.
• 1:10:44
  You know, it reminds me of that meme.
• 1:10:45
  Like you tell them like the moneys broken 21 million and
• 1:10:48
  they're just responding. Like hey bro, did you see the
• 1:10:51
  game last night? So it's important to build up
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  It will literally show you. We also have the Simply Bitcoin
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  group chat. We're really active on there.
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  I try to at least post something once a day and you can join it
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  and that's a really, really great way to reach out to me and
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  Yes. OK guys.
• 1:12:41
  So before we get into what Aaron is working on and things he's
• 1:12:44
  built in the in the the meet ups he's part of.
• 1:12:47
  I asked him before considering he is so young.
• 1:12:49
  I I I was asking you Aaron and like OK, like were you coding
• 1:12:53
  before And and I just want to start with the idea 'cause maybe
• 1:12:56
  there's some people out there that that are for some reason
• 1:13:00
  just falling into Bitcoin and you know they might have a
• 1:13:02
  computer science background. And I just mentioned and
• 1:13:05
  commented like, it's so interesting that so many people
• 1:13:08
  that are, you know, computer science majors that are part of
• 1:13:10
  computer science fall into the shit coin route and you're like,
• 1:13:13
  oh, I can touch on that. So Aaron, why do so many
• 1:13:16
  computer science people get stuck in the shit coin games?
• 1:13:19
  Why? Why are they all shit?
• 1:13:20
  Corners. I think it's just really easy to
• 1:13:24
  over intellectualize and get cute.
• 1:13:26
  Honestly like Bitcoin is just so simple that it's such a simple
• 1:13:30
  and a radically A radical concept that a Bitcoin and
• 1:13:38
  that's it. Like in just self custody and
• 1:13:40
  I'm set. It's like really yeah that's a
• 1:13:41
  value proposition And so like with the whole with shit coins
• 1:13:45
  and blockchain and all that like like black chain, not Bitcoin.
• 1:13:48
  That argument it's like it's it just plays into this like
• 1:13:52
  natural human tendency to like constantly be trying to like do
• 1:13:55
  things and build and you know protect yourself for the future.
• 1:13:59
  But like Bitcoin, it's like it's said it's set in stone once and
• 1:14:04
  for the like for the rest of the time, you know it, it's it
• 1:14:06
  doesn't need to be fixed or operated or anything like that.
• 1:14:09
  So like the the shit coin thing is like, oh, I'm going to try
• 1:14:13
  to, you know, I'm going to try to make a token and it's going
• 1:14:15
  to have this utility, it's going to do all these things.
• 1:14:17
  But you're missing the fact that digital scarcity was just
• 1:14:21
  invented. So like you trying to do your
• 1:14:23
  own thing and create your own network, you're never going to,
• 1:14:25
  you're never going to like outpace what bitcoins already
• 1:14:28
  got going for it. Love it, love it.
• 1:14:30
  OK, well, considering you do have a computer science
• 1:14:33
  background, let's talk about the project you built.
• 1:14:35
  Bit corner, freelance.com. So maybe start with what sparked
• 1:14:39
  the idea and then what? What can people expect when they
• 1:14:43
  go to the website? Yeah, so the idea came from I
• 1:14:47
  was at a meet up in late 22, and I was just kind of like
• 1:14:51
  spitballing ideas like, hey, I've got, you know, I'm always
• 1:14:53
  trying to do a side project. I'd love to make my next side
• 1:14:55
  project like around Bitcoin and I noticed that there was lots of
• 1:15:00
  marketplaces for goods that you can buy, but not a lot of
• 1:15:04
  marketplaces, marketplaces for services that you can buy using
• 1:15:08
  Bitcoin. So and you know, on top of that,
• 1:15:11
  what I wanted to build was like a way to have a circular economy
• 1:15:15
  where you can spend and earn Bitcoin.
• 1:15:17
  Because part of the value proposition about Bitcoin is
• 1:15:21
  that it's you can spend it on things, you can actually use it
• 1:15:24
  as a currency that people accept.
• 1:15:25
  And so as Bitcoiners, you've got to have places that people can
• 1:15:29
  spend Bitcoin. So this is another way that
• 1:15:32
  Bitcoiners can monetize their valuable time and earn very
• 1:15:37
  finite currency earn SAT's. OK, so basically this is like
• 1:15:42
  like if you fiver for Bitcoin, fiver for Bitcoin.
• 1:15:45
  I absolutely love that look. You have video production and
• 1:15:48
  commercial photography. You have create custom Bitcoin
• 1:15:51
  images. Examples of my artworks, so opti
• 1:15:54
  let me pull this on the caption so people could see it.
• 1:15:57
  What's the URL, Aaron? It's Bitcoin or freelance.com.
• 1:16:03
  Love that. Love that.
• 1:16:04
  Love it. So one quick question for you
• 1:16:05
  before Nico chimes in again. How do you people sign up for
• 1:16:08
  this dude? They have to create accounts.
• 1:16:10
  Like do you verify that people aren't scammers?
• 1:16:12
  Like what's going on in the back end?
• 1:16:14
  Yeah, so you do have to make an account.
• 1:16:16
  You can sign in. It's like the path is Bitcoin or
• 1:16:19
  freelance.com/auth. You can sign up, you can see the
• 1:16:22
  different categories you've got there for gigs, but right now
• 1:16:26
  it's just it's really reputation based.
• 1:16:28
  So the more gigs and services you do, the more of a reputation
• 1:16:32
  you'll have via reviews. And that way buyers can see how
• 1:16:36
  this person's got. This person's done some work
• 1:16:38
  before this has got this guy's got some reputation, so I'll
• 1:16:41
  work with him. And additionally, these gigs
• 1:16:44
  currently that you're looking at don't have any Sats boosted.
• 1:16:48
  But the idea is that it's like a proof of work kind of thing,
• 1:16:51
  where basically you pay to have you pay to boost your gig with
• 1:16:55
  Sats over the Lightning Network and then your gig will show up
• 1:16:58
  higher in the search results. So like if someone has got more
• 1:17:01
  Sats boosted than someone else, it means they've actually got
• 1:17:03
  skin in the game. OK wait, can you go over the
• 1:17:07
  Sats boosting again? It's it's them paying for like
• 1:17:11
  advertisement. Yeah, so if you post a gig and
• 1:17:14
  you say I want like I want to basically up rank, I want to you
• 1:17:17
  know, I want to have like basically make my gig look like
• 1:17:19
  it's sponsored or something like that you can spin up.
• 1:17:23
  Basically you can say like boost my gig, it'll spin up a
• 1:17:25
  lightning invoice and then you can just send Sats directly from
• 1:17:28
  your lightning wallet. And then based on like search
• 1:17:32
  criteria, results will come back and they'll be sorted
• 1:17:36
  essentially by whoever's boosted the most.
• 1:17:38
  And right now to get on the front page of the website, it's
• 1:17:41
  like it's like 1000 stats. So I mean, it's really not a
• 1:17:44
  whole lot. How many how many people are
• 1:17:46
  using are actively using this site?
• 1:17:48
  Yeah. So right off the right off the
• 1:17:52
  start in like November, we like onboarded 100 users really fast.
• 1:17:56
  And then since then it's kind of like been, it's like been slow,
• 1:17:59
  but it's been picking up lately. So we're almost to 200 users.
• 1:18:02
  Nice. That's very cool, man.
• 1:18:04
  And it's. I'm assuming it's organic,
• 1:18:06
  right? So Bitcoin or free LAN I?
• 1:18:08
  I put it in. I put it on the on the.
• 1:18:10
  What's it called when you go? OK, cool.
• 1:18:13
  Yeah, I'm looking at it now, man.
• 1:18:14
  That's awesome dude. So it's 200 people that are
• 1:18:16
  currently active. The the one I'm looking at is
• 1:18:20
  video production, commercial photography, create custom
• 1:18:24
  Bitcoin images. That one's really badass
• 1:18:26
  application, security penetrations test, payment
• 1:18:30
  gateway, integrations service. You have writing and reading
• 1:18:35
  tutor for students ages 10 and 18.
• 1:18:37
  So you really have everything, you know, from different types
• 1:18:41
  of jobs and different types of value that people are trying to
• 1:18:45
  offer. And again, it's an alternative
• 1:18:47
  to Fiverr and it's in Bitcoin, right?
• 1:18:49
  So it's, you know, it's kind of like this whole narrative of the
• 1:18:52
  Bitcoin ecosystem, the circular economy.
• 1:18:55
  This is a great representation of that, right?
• 1:18:57
  This is a great representation of a site that is completely
• 1:19:00
  running on Bitcoin. And again, unlike Fiver, unlike
• 1:19:04
  these other websites, anyone internationally doesn't matter
• 1:19:08
  where you are. You could start earning Sats if
• 1:19:12
  you provide value to other people, which goes into the
• 1:19:17
  sovereign individual thesis, right?
• 1:19:19
  That's one of the things that they said was going to happen
• 1:19:22
  because of the Internet. It doesn't matter who you are,
• 1:19:25
  how you wear your hair color, where you're from.
• 1:19:28
  If you have a thick accent, you know what your personal
• 1:19:30
  preferences are, what your religion is.
• 1:19:33
  You know on the in the cyber economy, you'll be able to earn
• 1:19:37
  no matter what, where you, doesn't matter where you're
• 1:19:40
  based, right? This is the beauty of Bitcoin.
• 1:19:42
  And remember, anybody who's against Bitcoin is against that
• 1:19:46
  type of future. And don't let them gaslight you
• 1:19:50
  into thinking that someone in Afghanistan, someone in Kenya,
• 1:19:56
  shouldn't have the right to earn money because of the because of
• 1:20:01
  the place they happen to be born in.
• 1:20:03
  Because how the current system is structured today, they
• 1:20:06
  literally could. Not just because their
• 1:20:09
  governments are acting in a certain way doesn't mean that
• 1:20:13
  the whole population should be penalized for that, right?
• 1:20:17
  And that's a reality that needs to be talked about.
• 1:20:19
  Those are the unintended consequences of you as
• 1:20:23
  sanctions, right? So don't let them gaslight you.
• 1:20:27
  This is going to make the world a better place and it's going to
• 1:20:30
  empower people no matter where they are.
• 1:20:33
  And all of a sudden, I think it's going to make the world a
• 1:20:36
  much more competitive place. It's going to make the world a
• 1:20:39
  much more equal place, right? That's that's the narrative that
• 1:20:42
  we hear all the time about, quote, UN quote, equality, you
• 1:20:47
  know, opportunity. Well, again, a lot of these
• 1:20:49
  politicians, they talk a big talk, but push comes to shove,
• 1:20:54
  you know they're supporting sanctions, right?
• 1:20:56
  Sanctions are some of the most, I would say anti human things
• 1:21:01
  that exist because they penalize you not based on your actions
• 1:21:06
  but based on the actions of your government and they also
• 1:21:10
  penalize you based on the, based on the place that you happen to
• 1:21:14
  be born in. You have absolutely no control
• 1:21:17
  over that. Bitcoin levels the playing field
• 1:21:21
  and sites like these that Aaron created.
• 1:21:24
  And Aaron, you're very smart kid for developing this kid and
• 1:21:26
  you're not a kid. You're 25 years old.
• 1:21:28
  You're a very smart guy for developing this because this is,
• 1:21:32
  again, a representation of us in a historic term in the world.
• 1:21:40
  Moving into the information age like this is a great
• 1:21:43
  representation of that. You're not gonna judge people
• 1:21:46
  based on what they look like or what their personal preferences
• 1:21:50
  are. You're gonna you're gonna judge
• 1:21:52
  people based on their proof of work, which is the way it should
• 1:21:57
  be, right? So again, I'm gonna emphasize
• 1:22:01
  this enough because this is separation of money and state,
• 1:22:03
  and the state's gonna try to fight this tooth and nail.
• 1:22:07
  If you're against Bitcoin, you're against this.
• 1:22:10
  If you're against Bitcoin, you're against anybody in the
• 1:22:13
  world having the ability to earn for the future, right?
• 1:22:18
  And I think that's fucked up. I think it's fucked up.
• 1:22:21
  I think it's really fucked up if we live in that type of world.
• 1:22:24
  You know, this is about exporting the American dream
• 1:22:27
  worldwide. And this is what the separation
• 1:22:30
  of money in state. This is what the Bitcoin
• 1:22:32
  revolution is all about. So, Aaron, appreciate you
• 1:22:35
  coming. Oh wait, Mika 1.
• 1:22:36
  Last thing, one last thing, one last thing.
• 1:22:38
  Aaron, I know you wanted to plug the Michigan Bitcoin meet up, so
• 1:22:42
  let's plug that right before we we roll out.
• 1:22:44
  Yes, so there's five meet ups going on in Michigan currently.
• 1:22:49
  Grand Rapids, Mid Michigan, Ann Arbor, Detroit, Southwest
• 1:22:53
  Michigan. If you haven't gone to a meet
• 1:22:55
  up, I highly, highly, highly, highly recommend in your state
• 1:22:57
  find where the meet ups are. Go on meetup.com, go on Twitter.
• 1:23:01
  They're they're advertised. They're all over the country.
• 1:23:03
  It's a really, it's a growing movement and basically my
• 1:23:07
  experience going to meet UPS has just been really fantastic.
• 1:23:10
  I've met some incredible bitcoiners and I've my Bitcoin
• 1:23:13
  knowledge has just gone up exponentially just by being a
• 1:23:15
  part of the meet ups and making these friendships and
• 1:23:18
  relationships with great people bitcoiners.
• 1:23:21
  The culture is amazing. And yeah, I just highly
• 1:23:23
  recommend check out a meet up in your local area if you haven't
• 1:23:25
  already. Beautiful.
• 1:23:27
  Let's go. All right, man.
• 1:23:28
  Well, we we really appreciate you coming on the show today and
• 1:23:33
  you spreading the sauce and you spreading the sound money gospel
• 1:23:37
  man. And you know, I hope that you
• 1:23:40
  join us again. And I'm really excited to see
• 1:23:43
  what types of projects you'll be working on in the future.
• 1:23:46
  So why don't you tell everybody for audio listeners where they
• 1:23:49
  can find you on the interwebs? Yeah, so like I said earlier,
• 1:23:54
  websites Bitcoin or freelance.com, Bitcoin, ER like
• 1:23:57
  with erfreelance.com and then on Twitter it's just Bitcoin
• 1:24:01
  ripping. Bitcoin ripping.
• 1:24:03
  Love that man. Love that badass name.
• 1:24:05
  Badass handle. All right.
• 1:24:08
  All right. Aaron, thank you so much for
• 1:24:09
  joining us. Really, really appreciate it.
• 1:24:11
  Opti you as well, guys. We will be streaming live from
• 1:24:15
  Texas tomorrow from Dallas, TX from Opti's crib.
• 1:24:19
  We'll be doing the meme review in person, which I think is much
• 1:24:22
  fit, much more fitting. And we will be streaming from
• 1:24:26
  the Airbnb in Dallas on Thursday and Friday.
• 1:24:29
  We're going to have a variety of guests.
• 1:24:31
  We're going to have the whole Simply crew in person.
• 1:24:34
  We're going to have Adam O'Brien, founder and CEO of
• 1:24:36
  Bitcoin. Well, with us, I think we're
• 1:24:38
  going to have Isabella Santos as well.
• 1:24:39
  We're going to have Rustin, we're going to have John.
• 1:24:41
  It's going to be great. And on Saturday we're going to
• 1:24:44
  be live streaming the Bitlock Boom Conference and we're going
• 1:24:48
  to be doing the news desk as well.
• 1:24:50
  So we're going to be dropping tons of content for you guys in
• 1:24:53
  person interviews. I'm really, really excited.
• 1:24:55
  Anyways, guys, if you enjoyed today's show, smash the like
• 1:24:58
  button, consider subscribing. If we feel like we provided you
• 1:25:02
  value, there's about 1420 of you watching live right now.
• 1:25:06
  So really smash that like button really helps with the algos.
• 1:25:09
  We love you all, we appreciate you and we'll see you tomorrow
• 1:25:13
  live from Dallas, TX. Peace out, everybody.
• 1:25:17
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• 1:25:20
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