Latest / Simply Bitcoin / Jason Brett | The Battle to Come | Simply Bitcoin IRL

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Jason Brett | The Battle to Come | Simply Bitcoin IRL · Simply Bitcoin

0:05
Hello everybody. Welcome to another episode of
0:09
Simply Bitcoin IRL today, we have a very special guest Jason
0:13
Brett and I always say he is in the thick of things, he is in
0:17
the belly of the Beast. He's in the Imperial City and
0:20
he's involved in the whole regulatory battle.
0:24
So I always really appreciate his input, especially on things
0:28
that are happening in Capitol Hill, in regards to bitcoin.
0:31
We know that a lot of things have been happening very, very
0:35
quickly. Glee over the over, the last
0:38
couple months. I feel like things are
0:39
accelerating. So really looking forward to
0:42
this conversation. But before we start the show, I
0:45
want to give a shout-out to the awesome.
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Bitcoin 20, 23 promo, code, simply Jason, no more delay.
1:33
How you doing, how's everything, how's life treating you?
1:35
These days. Good good.
1:38
I was actually just over in England and London, visiting
1:42
some family and also was on Peter McCormick's podcast.
1:46
And that was fun. He has soccer teams doing very
1:49
well, so he's excited about that.
1:52
But I'm glad to be back in the state side on this side of the
1:55
pond and there's just so much to cover so, but yeah.
2:00
Yeah, 100%. So, it's something that I've
2:03
been meaning to ask you, right? So, I had Among on, I think it
2:07
was two or three weeks ago and she said something that would I
2:10
had a suspicion of right? But you know came from the
2:13
horse's mouth so to speak because we all know that Jason
2:17
that that Kaitlyn long is, you know, she's trying to get a
2:21
Federal Banking Charter for which would make her competitor
2:24
with competitive with other Banks and she was denied that
2:29
banking Charter and she said on the Pod that those orders came
2:34
directly from Um, the White House, they came directly from
2:38
the top. And if you connect this with the
2:40
recent White House report, the economic prevent presidential
2:44
report, they dedicated over. I think it was around 20 pages
2:49
to basically making the case as to why Central Bank Central
2:53
Banking is necessary. Why a cbgc?
2:56
You know should be considered in the future?
2:58
Why you need the state for money and why something like Bitcoin?
3:03
You know, cannot be used that money.
3:05
Used as money and they mentioned something also about the Uniform
3:09
Commercial Code, right? Which we also know is mechanism
3:13
that they've been trying to pass laws all around the state's Ron.
3:17
DeSantis actually mentioned it by name the Uniform Commercial
3:20
Code when he I think he did a press release specifically
3:24
advocating against Central Bank, digital currencies.
3:28
So what's going on there? What?
3:30
You know what? What what what do you know that
3:32
we all don't know? Well, I can tell you, there's
3:36
definitely interest in a central bank, digital currency.
3:42
I think it's been made clear that the likes of Treasury
3:47
secretary, Janet Yellen, all the way to the FED, Reserve chair.
3:51
You know, Powell that to them the solution for quote, unquote,
3:57
crypto. Right is to introduce a, what is
4:02
really a liability? Of the government.
4:04
So that essentially they can move from the analog world of
4:08
cash and dollars into the digital world.
4:14
If you think about that for a second it's kind of a copycat
4:19
kind of approach and it's not very Innovative, right?
4:23
It's really trying to maintain the status quo and what I would
4:27
say is you saw congress come down on Facebook if you remember
4:32
when they tried to make Their own digital currency.
4:37
Libra in 2019, what was Facebook doing?
4:41
They were censoring, you know, ads for other coins, they
4:44
weren't letting anyone advertise anything else and then they in
4:47
turn, because they thought it was there saying this is bad,
4:50
and then they go ahead and they introduced their home coin.
4:53
The government comes in says no, you know what you're trying to
4:56
do with this Global stable coin Lieber is bad, we're not going
4:59
to let you do it, you know, beat up Facebook for a year to Look
5:03
deserves to be beat up. Let's face it right now.
5:07
We have the government who was not letting anybody do anything
5:12
saying, okay. Well wait a minute, we need to,
5:16
you know, create our own currency, what's more
5:18
disconcerting. And I think that this is this is
5:23
so interesting and I'm glad that I'm sharing this on your show
5:28
because we just had a Robert Kennedy in California.
5:34
You know, the nephew of JFK come out on Twitter a couple days ago
5:39
explaining that in his mind fed now which is, you know, instant
5:45
payment system that the FED has been supposed to set up for like
5:48
the last five years is basically a back door of the US government
5:53
to seize, everybody's Bitcoin, just the way FDR sees gold in,
5:58
you know, the 1930s. So it's very interesting times.
6:04
To have a democratic competitor to Joe Biden.
6:08
A Kennedy of all people to give us a little hope to try to shed
6:12
some light on the direction of just, what's one Administration,
6:16
right? What's one administration's
6:18
aspect? It doesn't mean this is forever.
6:21
Luckily we got rid of the whole King thing back in 1776, so we
6:26
can have different leaders every four years and maybe change the
6:29
approach that we have. But right now, the approach of
6:31
this government, it's not very The Innovative.
6:35
It's restrictive but the one thing that they can't crack as
6:40
Bitcoin and more and more. I've been thinking Bitcoin is a
6:44
lot like the Constitution, it's really laid out in a way.
6:48
It's very similar to our democracy.
6:51
No one can say no to you to owning Bitcoin there certain
6:54
elements that if Our Democratic Leadership whether with a small
6:59
D for either, the Democrats or the Republicans would take a
7:02
step back and look at it. It's really the most democratic
7:05
form of money. We've ever been able to have.
7:08
So we're kind of faced with the choice.
7:10
Do we want to go down the road of something that's less
7:13
Innovative and more restrictive and could create opportunities
7:17
to either, you know, do fed now and then seize people's Bitcoin
7:21
or do we want an opportunity where it's we give people the
7:23
opportunity to hold their own You know, coin of choice,
7:28
preferably Bitcoin and realize that this is a protocol that,
7:33
you know, you can make it miserable for people to try to
7:35
hold it. But we have, we have the
7:37
protocol to do it. Yeah, 100% and Jason.
7:42
I want to, I want to do, you know, you said something really
7:43
interesting there and I really want to double back and focus on
7:47
that and I never saw it that way.
7:49
And I did see we actually tweeted that out from the simply
7:52
account. Shout out Joseph and Opti.
7:54
When he when when the Kennedy I forget his first name made that
8:01
announcement but you said that it was basically being used as
8:05
an instrument to take everyone's Bitcoins.
8:10
Could you describe the mechanism?
8:11
Do you mean basically like getting people into using a
8:16
central bank, digital currency, and in the process of them doing
8:19
that, distracting them from adopting, something like Bitcoin
8:23
of, which they can't control. Well, if the this is where it's
8:31
important to understand the government thinks of a CB DC as
8:34
real-time payments like in terms of faster payments Network, as
8:39
well as something that you use to buy and sell things, they
8:44
don't really see it as a savings mechanism, right?
8:47
So, we're what I believe the the new candidate is looking at.
8:54
I think it's Robert Kennedy, please double check me on that.
8:56
That but is is saying here is if the government comes up with a
9:00
real-time payment system that's faster than 10 minutes right?
9:04
For the next blockers, six blocks.
9:07
So you've come up with something quote-unquote faster than
9:10
Bitcoin, everyone can use it and I think to your point yes,
9:14
there's the distraction element of it but then there's also the
9:17
element of saying, you know, they're there shouldn't be a
9:21
competitor in money to the US currency.
9:25
This is Been sort of my fear about where this government's
9:29
going was saying, you know, you can't have anything unless it's
9:32
US dollar based to use in society.
9:35
There can't there isn't room for alternate currencies,
9:38
technically only Congress is allowed to, you know, coin
9:41
money. So I think that's where he's
9:44
going with it. I don't necessarily think he
9:46
believes that it's going to turn into the next digital gold, or
9:50
maybe he does. And he thinks that they would do
9:52
is similar seizure, but if they come up with a real-time
9:56
payment, Network, and everybody's happy with it, it's
9:57
more than distracting with it. If we go back to the 6102 times,
10:02
you had people who couldn't use gold to buy things with Trent in
10:05
transactions. Right, it was illegal.
10:08
And so, you know what, I think he's saying is this
10:11
administration's moving toward the potential of saying, it's
10:15
illegal to transact in Bitcoin. Yeah, insured sure sound it
10:19
sure, feels that way, right? You know, Nick Carter wrote a
10:23
great pre Great Piece called operation choke point.
10:26
No, basically describing all the ways of which the administration
10:32
is basically trying to isolate the industry from the Legacy
10:37
Financial system. But what you're describing and
10:41
I'm learning I'm hearing this for the first time, it's a step
10:44
above that, right? So, you know what, this clearly
10:49
feels like it's coming from the top echelons of government.
10:52
This doesn't feel like it's coming from Congress or what
10:55
not. Isn't it beyond their purview of
10:58
the White House. You know what about the division
11:01
of powers, right? Isn't it up to Congress to make
11:04
that type of decision? Or are we looking at a scenario
11:07
like the 30s where you know, FDR six executive ordered it first
11:13
and then you know got the Supreme Court to say, okay this
11:16
is legal, this is constitutional.
11:18
And then eventually it was Congress that made it made it
11:22
possible but at the time due to the Great Depression, the At a
11:26
super majority in Congress, it was a lot easier to pass that
11:30
type of legislation you. It would it be?
11:35
Would it be wrong to say? That it would be a lot more
11:37
difficult with how the current political structure is today,
11:42
where it's basically a divided, it's basically a divided Senate
11:46
almost, right. And you know, the Republicans
11:48
barely have power and in, in the house.
11:51
So you know what, what's their plan here?
11:55
Like, what's their Long-term, what's their long-term play?
11:59
So I think to talk about for a minute, your part about the
12:04
exact on the executive side and this goes a little bit to what
12:07
you were saying with Kate. Long said, the orders came from
12:09
the White House. There's, you know, there's many
12:12
parts of the White House, right? There's there's the office of
12:16
science technology policy that's like concerned about Bitcoin
12:19
mining. There's, you know, cyber
12:20
security, which by the way, recently, came out and made a
12:23
statement. That was interesting that
12:25
affects us and then there's, there's so those others, the the
12:29
Is that the Federal Reserve is supposed to be an independent
12:32
agency of the White House, right there?
12:35
They're not supposed to be in lockstep, they're supposed to be
12:37
separated, but if you think about it from the executive
12:41
side, there are limits. They're not allowed to make
12:43
laws, right? They have to do with, in the
12:44
Constitution, when it's an issue of National Security.
12:48
Again, it was executive order, it started 6102 it, eventually
12:52
was passed by Congress, but it was an executive order based on
12:54
National Security that we needed to keep the gold here in
12:57
America. So, What if you think about it
13:00
from that perspective? One thing that's important to
13:03
understand I think, is that now, with where we are today, and
13:09
I've been thinking about this a lot, I'm kind of getting to
13:11
share with you on your show because it it finally kind of
13:13
crystallized in my head. What what the what the
13:16
directional you know, where they're attacking this, why
13:20
they're attacking this, why they believe what they need to be
13:22
doing is correct. And it's less about like
13:26
introducing a CBC and more about fears.
13:29
National Security relating to illicit Finance in compliance
13:34
with BSA laws, you know? It's, it's actually interesting,
13:38
you know, think when you talk to people in the white house or in
13:41
Congress, they don't know the difference between Bitcoin and
13:44
crypto. They also don't really know the
13:46
difference between crypto and defy just recently.
13:49
The treasury issued a report on D Phi.
13:52
And this is very interesting. So this report came out about a
13:54
week ago but all the problems with decentralized Finance it
13:58
says no One really has a definition of what decentralized
14:01
Finance is. It also says even the industry
14:05
doesn't can't Define what these centralized Finance is.
14:07
It then says, is we all know a lot of decentralized, Finance
14:11
entities, consider our realized, right?
14:14
And what is interesting and where I think this ties together
14:17
is there's also now been comments and concerns about the
14:20
smart contracts that are used and the potential bugs that they
14:25
might have making the potential for other countries.
14:29
To quickly get money, not just from Bitcoin but from aetherium
14:33
or whatever. And if you think about it think
14:35
about tornado cash. Remember that was a Bitcoin
14:38
mixer and they said it was helping the North Korean
14:41
government get cryptocurrency. And you know, I've been looking
14:44
at this and a lot and if you look at some of the evidence
14:48
it's clear North Korea is using Bitcoin.
14:50
They're accumulating it just like they're accumulate any
14:53
other other thing but they are accumulating.
14:55
Now it's a very small small portion of it and you know, the
15:00
The sort of the, the evidence suggests that, you know, they're
15:05
using it to potentially by, you know, increase their nuclear
15:07
weapons Arsenal, lots of problem.
15:09
Right? And I think, and I've said this
15:12
before, and I'll say this again, I think this is where for
15:15
Bitcoin as, you know, we have to have just a little bit of room
15:18
for some maybe round tables, or critical thinking about well as
15:22
Bitcoin increases and everyone starts using it.
15:24
That mean there might be some countries that start to use it
15:27
but in a very negative way just like Any source of value, right?
15:31
So but my point is that when they even talking about this,
15:34
like, Crackdown write this, this this choke point, it's a choke
15:38
point like on crypto, but it's not really crypto that they're
15:41
talking about. They're worried about
15:42
decentralized finance, and that's what they're worried
15:45
about, with tornado, cash, the cftc did an interesting ruling
15:49
on, what was the Okie do on, you know, a dowsing, first of all,
15:53
the Dow is liable, but this this Okie do situation was basically
15:57
a company that said, hey, we're going to be Centralized.
16:00
We're going to be decentralized. We're going to go into D Phi and
16:03
because we're doing that Regulators, can't touch us.
16:06
Well, you know, they wanted to make it clear that even Defy is
16:11
like a financial institution and so the reason I'm sharing all of
16:14
this is that it in my mind, you know, and with this latest
16:18
treasury report that really attacks the defy ecosystem, we
16:21
have to understand you know is is D.
16:23
Phi is Bitcoin Defy? Is it in that category?
16:27
Because right now what they're saying is These other elements
16:30
that are centralized are essentially financial
16:33
institutions that have to comply with the BSA, but as we know for
16:38
Bitcoin, the good news is, there's no way you can ask the
16:41
Bitcoin protocol to comply with BSA and am L rules like a
16:45
financial institution. So, that's the rub.
16:48
And that's where we're at right now.
16:49
I think a lot of this, a lot of what you're seeing, the
16:52
Crackdown is being driven from this National Security element.
16:56
Because at the end of the day, Nico, It's about what they don't
17:00
know. And it's a lot of fear because
17:02
it isn't a substantial amount of money yet, but there's this idea
17:05
of the money moves so fast. You know?
17:08
It's almost like the answer is to education, right?
17:10
Educate what Bitcoin is, how it works, what it does.
17:14
We're since 1970s we've developed this concept that we
17:19
have to do BSA started with the drug trade.
17:23
You know, people people in the treasury used to take hold bags
17:27
of cash and spree cases of cash if they One little bit of
17:30
cocaine on a dollar bill. Now everybody has it and they
17:33
got over it and they stop doing that.
17:35
Then there was sort of the Patriot Act after 9/11, or it's
17:38
even more important. We have to know if the person is
17:40
a terrorist whatever. And I think we have to come to
17:44
some sort of understanding in this country in this decade to
17:48
decide. What do we need to do to keep us
17:50
all safe, but what do we need to do to keep living in a free
17:54
country? And not feel like if I just want
17:56
to have a little bit of Bitcoin to save for my family, Lee or I
18:00
want to use some Bitcoin in a lightning transaction and buy
18:02
some stuff that we should be able to do that, especially on a
18:05
peer-to-peer basis. But I think it's important to
18:08
understand that to me, now, the main attack is from is from the
18:12
angle of defy that the government does not want D Phi
18:16
because it does not see how it can comply with the BSA rules.
18:20
Yeah. And, you know and it's it's
18:28
Jason. Look.
18:34
There's no. And I don't see a way where
18:39
their systems of control right there, their ability to control
18:43
the money flows, right? You know, in a lot of the
18:46
justifications are exactly what you said, right?
18:48
Do the illicit Finance terrorism, you know, the North
18:52
Koreans and North Korean example, with tornado cash.
18:54
That was a, just a doubt that was used as a justification by
18:57
the office of foreign assets control to sanction, open source
19:00
software, right? But at one point, something's
19:04
got to give right? I think eventually you know,
19:09
unfortunately DC is going to have to get used to the fact
19:13
that they're not going to be able to control.
19:17
Money, the way that they've been able to control it for a very
19:21
long time, right? You know, Bitcoin, there's a
19:25
saying right big Corner, say this all the time.
19:26
Bitcoin is the money of enemies. Iran's going to use Bitcoin.
19:30
Russia's going to use Bitcoin, China's going to use Bitcoin.
19:33
North Korea is going to use Bitcoin.
19:36
Can't can't stop it, you know, Opti always says right.
19:40
You can't ban yourself from Bitcoin.
19:41
You can only ban the sorry. You can't bend back when you can
19:43
only ban yourself from Bitcoin. Is that a pill that they're even
19:48
like it? Could they even comprehend
19:51
swallowing that type of pill, right?
19:53
Or are they going to go through this very, you know, tumultuous
19:58
painful process of and in sometimes, you can even say that
20:03
there might be a knee-jerk reaction, right?
20:06
Like, look, Cat. Look at the recent bill.
20:08
That was introduced the restrict act, The Tick-Tock band, right?
20:11
It's another Power. Grab a lot of people are calling
20:13
it Patriot Act 2.0 so you know from you being in your position.
20:18
Jason's is that even a pill? They're willing to swallow.
20:21
Are they ever going to be okay with the money of which not
20:25
only? Can they not control sensor sees
20:28
effectively? But they can't, they can't even
20:30
deflate it. Are they ever going to be okay
20:33
with that? Or is this going to be a, you
20:36
know? No, this very long painful
20:39
process of you know, the what the five stages of grief.
20:43
Right. The five stages of denial, is
20:46
that where it's going like, what's your opinion on that?
20:49
There's going to be inevitable Clash.
20:51
I don't think Bitcoin is compatible with current US
20:54
sanctions policy. I don't think they'll be able to
20:57
sanction countries effectively the way that they've been able
21:00
to do so for a very long time, I can't disagree with that, right?
21:09
I mean this isn't a global. So what you have when you have a
21:12
Global Currency and I don't think that I think it's a bridge
21:18
too far. And the analogy I use is you
21:21
know when Great Britain dominated the world it was based
21:24
on their Navy right ships and is that stopped being a thing.
21:29
It was too hard for them to move to what else might they need to
21:33
use to sort of dominate the world.
21:35
The US has dominated the world primarily with their economic
21:38
power, along with a military power and because the economic
21:43
power is part of the Playbook of foreign policy for the US where
21:47
there's the justification of sanctions based on the idea that
21:51
I can sanction, so I don't have to send soldiers over to die.
21:56
Instead. We can just sanction a country
21:58
it's become you know, this Norm, this practice so you know I
22:02
don't I don't see it in. This is why so About if we go
22:07
rewind back to beginning of 2022.
22:09
Remember, we were in the are wonderful.
22:14
You know, everyone calls it the summer, right?
22:17
Not not not crypto winter or whatever, you know, everything
22:20
was booming, but in the beginning of that year, if you
22:23
remember there, was that executive order that came out to
22:25
start to study cryptocurrency, Biden's Administration.
22:29
People were starting to say, well, wait a minute, like we
22:32
need to, we need to do things. There are certain principles and
22:35
this was a discussions, Nico between the FED treasury White
22:40
House. And it basically came to the
22:42
conclusion, that there were three things that were
22:45
principles that they would not let stand for no matter what
22:49
became of Bitcoin or crypto. Number one that it's up to the
22:53
Federal Reserve and the government to set monetary
22:56
policy, no one else, no algorithm nothing else.
23:01
But the government is supposed to set monetary policy, that's
23:04
number one. Number two is to regulate
23:07
financial institutions and you see that now with this idea of
23:10
we can't have Bitcoin in the, you know, banking system, we
23:14
have to be able to have safety and soundness and we have to
23:17
have, you know, compliance consumer protection.
23:21
So you know we need to make sure it's a safe and sound financial
23:24
system. So the financial markets work
23:27
effectively and then at the same time we need the consumer
23:30
protection so we can protect consumers, particularly
23:33
disadvantaged, you know, consumers.
23:35
That's So you have your monetary policy, you have your you know,
23:38
financial institutions and safety and soundness and
23:42
consumer protection. And the last part is illicit
23:44
Finance, you know, they will not tolerate the idea that a system
23:51
of money could be taken advantage of which is I have to
23:54
chuckle a little bit because it's not like the u.s. dollar is
23:57
insulated from sanctions, you know, even though they have all
24:00
these sanctions in place we still know there's still
24:03
millions of dollars, there's issues with large Banks.
24:05
HB HSBC from a while back. So you know even the u.s.
24:10
dollars not perfect but this idea of you know, that they
24:12
can't see you. No illicit Finance, run rampant.
24:16
So when you think about that, what I just shared those
24:19
principles. That's basically the FED
24:22
treasury. White House said, this is how I
24:24
have to do it. They saw executive order that
24:27
came out in March, they said it that would be the vehicle, they
24:30
would use and then if you look to September, 20 22, you then
24:34
saw they said, here's our Our framework talk about, you know,
24:37
stopping illicit Finance CBD. See the CBD see is their answer
24:43
for saying that we the government gets a set monetary
24:46
policy by the way, so your listeners.
24:49
Don't get confused. This is not me saying that's
24:51
correct, I'm saying this is what their belief system is and then
24:54
finally you know you saw the Crackdown that the choke point
24:57
2.0 and that to me is that principle number two of like,
25:01
you know, not making sure the safety and soundness of
25:04
financial Banks and our financial system, you know,
25:08
isn't affected that we can, we can regulate them.
25:12
So, when you think about that, all of those together, I think
25:16
you kind of have your answer, and it's funny, I'm thinking of
25:19
like that movie, I Robot, right. These are the three principles
25:22
we live by, but that's really their there, where they're
25:25
coming from. And I don't think that, at least
25:28
in this Administration there's and the National Security Forces
25:32
involved, they're going to back down, you know, it's easy to
25:35
forget, Yet, we have n set in this in this country now and
25:39
said, is the national cryptocurrency enforcement team
25:42
for the Department of Justice. They're looking at our whole
25:45
ecosystem every day and there's cases, we probably haven't even
25:48
heard about where they're ready to, you know, file and you know,
25:51
New York courts, whatever, you know.
25:54
There's there's there's active work at the FBI looking at
25:59
cryptocurrency. This is a, this is the the the
26:03
apparatus the, you know, the Deep State really at this point
26:07
that is fully, you know, integrated into watching over
26:11
this specific developments that happen in Bitcoin and other
26:15
cryptocurrencies based on the need to protect, you know, from
26:20
illicit Finance safety and soundness our financial
26:23
institutions. And the one that really is hard
26:27
to swallow but I think goes back to the very beginning, what
26:29
we're talking about which is cdc's right cdc's so they can
26:33
set monetary policy. Think about it.
26:35
The CBC might have an element where if you get CBD, see, they
26:39
might at some point decide to charge interest on your CB D.
26:42
C is for you holding it as a lower bound of setting monetary
26:47
policy. So if like you have 300 CBD, see
26:51
dollars in your in your wallet and they decide you need to be
26:54
spending that money to help the economy.
26:57
They might say, okay, we're going to take three of your CB D
27:00
c-- dollars away every month. As a charge, unless you spend
27:05
it, I mean, it sounds more like a cattle prod, right?
27:11
It's total totality are in control like it there's no which
27:15
wait like it is every tyrants with dream to have that that
27:19
type of power and to be frank it's unamerican it's completely
27:24
unamerican that that like that enforcement and and but here's
27:29
the thing Jason, I think this would gives me hope, right?
27:32
Is that this only works, this plan works like this, you know,
27:36
this extravagant plan you you mentioned, you know, you In the
27:40
Deep State, I would call it the administrative State.
27:42
It's right up in your grill. It's right up in your face.
27:44
They're not hiding it anymore, right?
27:48
This only works if people choose to use that currency that people
27:55
just like, for example, in my case, specifically, I refuse to
27:59
ever use, you know, as my primary unit of account.
28:03
I refuse to use dollars. If I don't, if I don't have to,
28:07
you know, how are they going to force millions of individuals,
28:12
all around the world? How they going to herd them into
28:15
using a money? They don't want to use and the
28:18
Example that comes to mind is what is happening in Nigeria,
28:21
which I think is a fascinating case study where you know they
28:24
tried to roll out the E naira, which is the Central Bank,
28:27
digital currency of, you know, of Nigeria, extremely low
28:32
adoption rate and the Bitcoin adoption rate specifically in
28:38
the younger generation, it's 30 to 35%, you know, people don't
28:42
trust what the guy in the suit on TV has to say about what
28:45
money, they should be using, what money they shouldn't be
28:47
using. Being right?
28:49
So this whole plan for the the the you know, the unelected
28:54
bureaucracy that remains in power of regardless of what
28:57
political parties in charge. It all stems on people for being
29:03
like basically forced to use that currency.
29:08
But I think the problem that they're going to have, is every
29:11
single day people are waking up to the fact that there's an
29:14
alternative and that alternative Not only, you know, is it
29:19
censorship resistant, right? Not only you know, is it very
29:22
hard to cease? Its also deflationary increases
29:26
in purchasing power over time. So they have a very difficult
29:29
problem on their hands. And the reason I'm saying this
29:32
Jason is because in all those documents and I know that you've
29:34
read them, all right? They always mention inefficiency
29:38
of payments. That is what they double down on
29:40
efficiency of payments, efficiency of payments.
29:42
We must make payments digital But they never touch upon
29:47
inflation. They never mention it.
29:50
And I believe the reason that they never mention it is because
29:52
they can't mention it because if they were to mention it, it
29:55
would validate the fact that money can exist without
29:59
inflation. And if money can exist without
30:01
inflation, forget about the one trillion dollar deficit spending
30:04
that the government gets away with every single year forget
30:08
about the endless Wars, forget about the social programs that
30:11
you might not necessarily agree with, they can't afford that.
30:14
That with tax revenue alone, right?
30:17
So, I think that they have a big problem in their hands, but that
30:21
doesn't mean that they can't make the lives of bitcoiners
30:26
specifically in the US a living hell in the process.
30:31
Yeah, I mean and that's what I think.
30:35
At least what I'm hoping to try to figure out is working with
30:41
our current Congress and those that are allies to bitcoin
30:45
because they're our allies that exist to make sure and protect
30:50
certain rights. I think that people need to have
30:53
so bitcoiners can be protected. It recently came out in Texas.
30:59
I know there's a couple bills. You want to talk about?
31:01
Texas. But there was a resolution that
31:02
I wrote and not, I with Natalie, some Lansky Natalie added in,
31:08
after I started it and brought it that amazing work to bring it
31:11
to the finish line, but it was a resolution for bitcoiners and it
31:14
was introduced in Texas. And the idea of the resolution
31:19
is actually for me like that was a sort of the first stage of
31:24
something that I think needs to eventually happen.
31:26
So basically, it talked about, we need to protect, you know,
31:29
the property rights a bitcoiners It's the right code.
31:33
You know that should be freedom of expression and you know the
31:37
right to transact in Bitcoin and also the right to have privacy
31:41
with our money and those and there's a bunch more protecting
31:44
Bitcoin Miners and things like that.
31:46
And this resolution now just a resolution doesn't actually
31:48
affect any laws but what I'm hoping Texas thinks about and
31:52
maybe the US thinks about is and I know this is like seems
31:56
ridiculously impossible but I do think we need to have a
31:59
constitutional amendment. To protect bitcoiners.
32:03
And I think that at some point or another, we have to put into
32:06
law protections about our rights to hold the property called
32:10
Bitcoin rights to have privacy related to that rights transact
32:15
in it and, you know, ultimately right to code in to do these
32:19
things that are our freedoms of expression.
32:24
You know, Revolutionary War. 1776 was a lot about what kind
32:28
of money we were going to use and you know, No, colonists
32:31
couldn't use coins, they had to use the Spanish dollars and, you
32:36
know, it's hard to know exactly what Satoshi Nakamoto was
32:38
thinking. I know we always think about
32:39
the, you know, talks about during the financial crisis,
32:42
when he came out with. But I always think about the
32:44
fact that Bitcoin has a decimal points to it, right?
32:47
And if you think about Pieces Of Eight, so you know, piece of
32:50
eight is the Spanish dollar that everyone used to break up into
32:54
eight different pieces, like orbits, right, B, Bitcoin to B
32:59
was a quarter, you know, Dollar. And that's what they had to use,
33:03
right? That's we had to use here before
33:05
when we got out from under, Britain's thumb was a Spanish
33:08
dollar and that was okay until the 1850s.
33:11
We use Spanish dollars, but that was the only coins we really
33:13
had. So, you know, I guess the
33:16
message to me is like we are trying to figure out a way that
33:20
people will be able to tolerate this, but I think it's going to
33:22
have to be a real difficult fight to make sure that there's
33:26
protection. So bitcoiners lives aren't
33:28
miserable, and that's what I'm hoping that we can eventually.
33:31
Accomplish and it's no small order, you know.
33:34
But I don't see any other way of avoiding what Kennedy talked
33:39
about when he said you know he thinks there's going to be a new
33:42
executive order to seize people's Bitcoin.
33:44
So you know the solution to that is get it into, you know, get
33:49
into an amendment and if they want to add gold to it or
33:51
whatever Bitcoin gold things like that, that's okay.
33:54
But look Bitcoin is the new innovation that you know, we
33:58
talk about like Innovation or you know, all the Shitty coins,
34:02
you know, talk about, we need to improve upon it.
34:04
Bitcoin is a pretty good value, proposition on a lot of fronts.
34:07
And essentially, I think what you're seeing the government,
34:11
it's going to spend millions and millions of our taxpayer dollars
34:13
on is only recreate lightning. You know, they're going to come
34:18
back to seeing the realize well Lightnings perfect for what
34:21
they're trying to do. But they're still going to spend
34:23
the money to try to figure it out their own way first.
34:26
Yeah, exactly. Because you know, it all comes
34:29
down to money. Me politics, right?
34:32
It's like it. The way that the current system
34:36
is structured specifically, the bureaucracy is that it needs
34:41
total control of money and it really, you know, it kind of
34:46
reminds me of, you know, the theory of the sovereign
34:49
individual. And by the way you mentioned,
34:50
Natalie hee. She is so freakin smart.
34:53
She is, it was it. She blew my mind when she came
34:57
on the show a couple weeks ago. Holy cow.
35:01
She's absolutely brilliant. So I'm really glad that you guys
35:05
are working together and I'm really really glad that she's on
35:07
our side. I just want to give a shout out
35:10
real quick but it kind of reminds me of the theory from
35:14
the sovereign individual which is the basically theorizing
35:18
that, you know, the end of the nation-state the end of the
35:22
nation-state model and it ends in fiscal crisis as more and
35:26
more people choose to opt out of inflationary money and Joke
35:31
about this with Opti all the time.
35:33
But you know, there's always truth to every joke or I said,
35:35
look, we're going to hold it, we're going to try to hold it
35:37
down. Obviously, you know, I live in a
35:39
pretty friendly Bitcoin State I live in Florida, right?
35:46
But you know, if all else fails, I'm gonna move to El Salvador,
35:51
right? And I know that a lot of other
35:52
bitcoiners are going to follow suit and their ability to seize
35:57
or confiscate wealth like they did with the 610 to order is.
36:01
Greatly diminished specially. If you have people taking self
36:03
custody, it's very, very difficult for them to do on a
36:07
massive scale. And then, I guess maybe it's
36:09
naive of me to say this, but maybe in the long term, that
36:13
forces governments to really change your look, change, the
36:17
way that they're looking at the relationship with citizens,
36:22
because it, you're just going to see a massive, you know, a
36:25
massive wealth flight. I mean, you see this with every,
36:29
you know, we stay as neutral, Neutrals as politically neutral
36:32
as possible. I'll put it nicely.
36:34
You see this with every collectivist country, right?
36:37
And specific, where I'm originally from within
36:40
Venezuela, you know, you saw massive flight.
36:42
You saw a brain drain. You saw millions of people leave
36:45
the country, right? He saw the most successful
36:47
entrepreneurs, the businessmen, the wealth, leave the country,
36:51
because it was a terrible jurisdiction to do business with
36:55
it to do business in, and to find Economic Opportunity and
36:58
prosperity. And I, That you might see that
37:02
in the future specifically, if the u.s. drops the ball when it
37:05
comes to bitcoin right now. I don't know if you saw this but
37:08
there is a recent article with Bloomberg, basically, saying
37:12
that Hong Kong with the approval of the CCP was actually trying
37:18
to incentivize Bitcoin and shit. Coin companies to know how crazy
37:22
that sounds right after the mining band to try to
37:25
incentivize Bitcoin companies to move to Hong Kong, right?
37:28
So, I think that US policy makers, And Regulators don't
37:32
quite understand that this this geographical Monopoly advantage
37:40
that they once have I said that correctly, it doesn't work with
37:44
Bitcoin, Bitcoin lives in cyberspace.
37:47
We're just going to go to where we're treated best.
37:49
What why would we say, why would we stay here?
37:51
You know, so I don't know. I just don't want to go through
37:56
that, you know, I'd rather stay here, you know, and I think
37:59
that's where, you know, No, people like yourself, Jason,
38:03
that's why you guys are so important in the fight that you
38:06
guys are the fight that you guys are doing.
38:08
So, what is the next step here? What you know is this a lost?
38:12
Cause I guess my question is to you.
38:16
I don't think it's a lost cause because we do have every four
38:22
years. We get a chance to elect a new
38:24
Administration. I mean, how could there not be
38:28
hope we have a Kennedy who said basically this is the plan of
38:32
the government and you know, he's going to force the
38:35
Democratic party to reconsider if he does.
38:38
Well, maybe he doesn't become the candidate to rethink the the
38:42
platform, this government moves slowly.
38:45
Lee. But at the end of the day there,
38:49
there there has been a resiliency in the United States
38:52
to focus on people's freedoms and Liberties.
38:56
And I think there's what you saw, you know, when you mention
39:00
the restrict act, right, you saw the backlash about that as
39:03
people really understood. It, even though Senators had
39:05
signed on to it. Now that thing stalled out, you
39:08
know, I mean, it's not there is not been one person in the House
39:12
of Representatives willing to introduce that as a companion.
39:15
Bill. That's a big red flag to the
39:17
restrict act because you have twenty six Senators who signed
39:20
on to it. So when people started speaking
39:23
up, that's when they said, wait a minute.
39:25
Yes, isn't maybe the best way to go about it?
39:28
Maybe we need to make some changes and typically you almost
39:31
automatically have one of 435 House of Representative members
39:36
who are willing to say oh yeah I'll do a you know, companion
39:39
bill in the house and introduced it since it was introduced in
39:41
the Senate. So I'm hoping the collective.
39:45
Intelligence of our country is enough where we've set up this
39:49
experiment called democracy at to potentially stop.
39:54
What is happening with totalitarian governments.
39:57
And I think that, you know, the, if you look at the price of
40:02
Bitcoin, now, United States almost a good indication, right?
40:06
Of course of the Fall, the pressures.
40:07
They're putting on bitcoin. People are like doubling down.
40:10
Buying it, more. I think there's hope I think
40:13
though that, at some point or another, and I, How we do this?
40:16
I really don't is we have to sort of find a way for
40:19
bitcoiners to get together in a common way.
40:22
Maybe similar to like the NRA or the, you know, the association
40:25
for retired people, so it's going to be one party the other
40:29
and just make it really clear like how we feel, what we
40:32
believe in and there should be room for this.
40:35
I love that you brought up the sovereign individual, because
40:38
that's to me. That's where we are at, right?
40:40
We are, you know, back to communities online.
40:43
There's different ways. People, you know, We're now in
40:46
demand, right you being the people should want us to move
40:48
from one country to another and look history tells me it's going
40:54
to be a very difficult thing so I can't tell you that it's going
40:58
to turn out. Okay?
41:00
Very. Well may be that people who are
41:01
bitcoiners have to leave the United States because this is
41:05
this is definitely a knockout drag-out battle and there's the
41:09
people in power, the ones that are in power, right?
41:12
That have a lot of tools in their tool kit to These things.
41:16
So this is, you know, this to me is like a really a divot David
41:19
versus Goliath, but I do think as people realize things, as you
41:23
know, explaining it to your, the people you elect congressmen,
41:26
congresswoman, you know, Bitcoins important to you.
41:29
You know, that's remember it's about votes, you know?
41:32
And that's to me. Why even the the fraudster
41:34
sandbank been freed couldn't fool everybody all the time.
41:37
Right? So we just have to find a way to
41:40
make our voice heard and there's great things that the Bitcoin
41:43
policy Institute is working on that, you know, No David's L you
41:46
had on and I love supporting that they're doing their
41:48
conference at the end of this month that I'm you know, been
41:51
invited to speak at. So you know, it's just going to
41:53
have to be persistent effort. Just you know your show things.
41:57
Just keep that we keep on talking about it because the end
42:00
of the day it's not like currency.
42:02
It's not like tanks right now. It's still based on votes, you
42:06
know, that people get into power.
42:08
So yeah. And then let's talk about that a
42:11
little bit because that's I think that subject is is deaf on
42:15
bitcoin. Expect Corners.
42:16
Do they underestimate the importance of the political
42:21
process, right? They underestimate the with the
42:24
other side. Understands it very, very well
42:27
right? They're playing to win and what
42:29
I see with bitcoiners a lot, right?
42:32
Is this idea of my wealth is in Bitcoin?
42:36
I don't care. I just I'm fine which on an
42:40
individual level to be very clear if you take Bitcoin into
42:42
self custody. Yeah, you are.
42:45
Are definitely on it at Advantage for sure, right?
42:48
You know, if all else fails you can leave right but I don't
42:54
know. I like the States you know I as
42:56
a first generation of American I was sold on what the idea of
43:01
this country is and what it represented.
43:05
And the original vision of the founding fathers of what the US
43:09
should be is very extremely coincidentally.
43:13
Also very aligned Bitcoin and the way that Bitcoin works,
43:19
right? So it's almost as if we need to
43:21
go back to what it once was not what it became after the
43:27
introduction of the Federal Reserve in 1913, right?
43:32
And for that, in order, for that to happen Jason, there needs to
43:36
be a political movement. And I think a lot of people shy
43:39
away from the political movement side of things because of you
43:42
and I both know this how difficult it is.
43:46
To effectuate change politically and you mentioned, I think you
43:50
mentioned the NRA, right? Like try passing a gun law, try
43:55
it. It's literally almost impossible
43:57
and Corey Clips in wrote a great piece race to avoid the war.
44:01
He was talking about a 10 million to 11 million, you know,
44:05
Transit intransigent. I can't pronounce it correctly,
44:08
but this minority of bitcoiners that just they will not budge on
44:13
this issue. And I think if we're able to
44:15
capture That we might not have to move to El Salvador, right?
44:21
But it did. There needs to be a political
44:23
process. I think the politics need to be
44:25
involved. I think people need to get
44:26
active here, and they need to be able to elect into office people
44:33
that are pro Bitcoin right there.
44:34
I think that's the way I think that's the way that we really
44:37
protect ourselves in this particular situation because as
44:40
it stands right now, we have a good portion.
44:45
A large amount of elected officials.
44:49
I might add that are hell-bent on stopping this dead in its
44:53
tracks. I mean, Elizabeth Warren made it
44:56
part of her campaign because like I'm building an anti crypto
44:59
or she's declaring war. Like she's literally saying,
45:02
this is not going to happen on my watch and and please correct
45:06
me if I'm wrong here. Jason, she sits on the Senate
45:09
Banking Committee doesn't, she certainly does.
45:13
Yeah, yeah, certainly does. She's had a lot of influence
45:17
probably oversized influence the White House as well.
45:21
One of her disciples. Were he, Chopra is head of the
45:24
Consumer Finance Protection Bureau which is a major agency.
45:29
So, there's a yeah, that's unfortunate to see that.
45:33
I mean, once you did the war on Wall Street, an Occupy Wall
45:36
Street, you know, I think that was people understood that like
45:41
what, you know, with first of all, when you the conversations
45:45
you and I are having like the fact that we're able to have
45:47
them, you know, in this country is and it's a reminder, to me of
45:50
a little bit, like, The Federalist, Papers, you know,
45:53
because those were done anonymously.
45:54
Like, like when you hear what we're talking about, if you
45:57
didn't know, we were talking about Bitcoin, you think we're
45:59
just a couple of crazy people like paranoid, the government's
46:02
coming to take our stuff. And so that makes us sound like
46:06
a little bit like we're, you know, bitcoiners who just want
46:09
it, keep things, the way they are it.
46:11
And the problem I think that we're going to run into is The
46:16
biggest problem is going to be, I think the bitcoiners that and
46:19
I hear this almost all the time when they'll say something like,
46:24
you know, Jason it's great. What you're doing it but you're
46:25
really just wasting your time I'm getting Bitcoin because I
46:27
don't want to deal with all the politicians.
46:29
I'm just going to, you know, not not show up and I don't want it.
46:33
That's the reason I had Bitcoin is because I don't want to deal
46:35
with the government. Well, the problem is the
46:37
government wants to deal with you, you know what I mean?
46:39
So you can ignore the 800-pound gorilla on the other side of the
46:43
room and try to, like, read your book, but Probably going to be
46:46
disturbed at some point, and so, I think there has to be a
46:49
realization. We got to do something about
46:51
that, 800-pound gorilla. Yeah, yeah, exactly.
46:55
Anyways I want to talk about the recent if you don't mind
47:01
pivoting of course sure Marty wore out.
47:07
But yeah, these are these are these are intense conversations.
47:11
The recent New York Times article came out basically, you
47:17
know, attacking Bitcoin mining. And it's interesting because we
47:21
know that that is one of the narratives that is being Gated
47:25
by the, by the White House. That is one of the narratives
47:29
that is being propagated by Elizabeth Warren.
47:31
That is one of the narratives as being propagated by the state of
47:34
New York, right? That Bitcoin is you know,
47:38
environmentally damaging. I don't think it's sincere.
47:41
And the reason that I don't think it's sincere is because
47:44
every time they're confronted rather than, you know,
47:48
addressing the actual concerns of the public of saying, look, I
47:53
think you got this wrong. Let me tell you what they've
47:55
got. The wrong.
47:55
They Gaslight you but they label you, you know, you're an
47:58
extremist, you know, you're racist, you know, they try to
48:03
shut you up but they don't really address that.
48:06
So I guess my question to you is, I don't really believe that
48:11
they truly believe that Bitcoin is truly bad for the
48:14
environment. I think that they just want to
48:17
control what you can do with energy and what you can't do
48:22
with energy. Because, what about electric
48:23
cars, why are we not talking about?
48:25
Extra cars, electric cars are, you know, they get there, they
48:29
get their energy from, you know, non-green sources.
48:32
So how come? They're not held to the same
48:34
standards? Why is it that it's Bitcoin
48:36
mining? That is the problem.
48:41
So proof of work is, you know, really a remarkable event in our
48:49
time where we can do what we can do.
48:52
So first of all, I think a lot of times is saying, well, you're
48:55
wasting a lot of energy on something.
48:57
That's not really useful. And I think that to me, as soon
49:00
as you, when you see that part of the argument, you realize how
49:03
flimsy it is and how may be insincere?
49:05
It is, because why would you start by saying?
49:08
Well, you know, it's Not, it's like your choice look, you could
49:11
choose to put your energy toward electric cars, you could put you
49:14
know gas and an SUV like you've bought and paid for the energy
49:18
that was was there and you're using it.
49:20
You know, as you think fit if anything Bitcoin is a more
49:24
worthwhile Enterprise than others and other types of
49:28
systems to funnel your energy into, but look, the government
49:32
is attacking proof-of-work. We also have the SEC attacking,
49:36
you know, proof of stake, right? And there were there saying
49:39
These are companies, right? And it's really affecting that
49:43
the whole system, and there's a lot of things at play.
49:45
And I think the way to think about this is not, whether it's
49:49
sincere or not, but there's sort of a saying in DC and as you, I
49:53
love it, when you call it the Imperial City is, you always try
49:56
to figure out what everyone's end game is.
49:58
So like, what Senator Warren's end game, right?
50:01
Where? You know, where is she headed
50:02
next? Does she want to be treasury
50:04
secretary? Maybe, you know, maybe she wants
50:06
to run for the White House again.
50:08
So this is a convenient. Plank, you know, in political
50:11
process to say, you know, I think that that Bitcoin energy
50:15
is bad. There's evidence to say it you
50:18
know behind closed doors. I'm sure she's like, who cares?
50:20
If it's true. It's probably not true but I'm
50:22
just going to bash it because it's it's getting me a lot of
50:25
fundraising things and I'm you know Mabel I'm benefiting from
50:28
it. So the question is how much is
50:29
Senator Warren? Really benefiting from this
50:31
argument and look, it is so obvious.
50:34
Like like you said, Senator Warren is on the Senate Banking
50:36
Committee but guess what? She's not the chair.
50:38
She doesn't set the Under. But let me tell you, when she
50:41
wants to announce something, when there's a senate hearing
50:44
coming up, you will notice there is a huge New York Times article
50:48
the day of the hearing for whatever bills she wants to
50:50
introduce. So she's got, you know, we
50:53
talked about this at one point, almost the fourth branch of the
50:56
government as like the media, you know.
50:58
So that's and that's what the New York Times.
51:00
Dangerously goes toward when you see stuff like this.
51:03
The reason I bring up the proof of stake is that it's everyone's
51:06
getting attacked from all sides proof of stake right now.
51:08
Not Bitcoin is under attack. And by Gary Gensler and it
51:11
allowed people to bitcoin, you know, world or like you know,
51:13
cheering that on. I don't think we need a
51:15
government policy to help Bitcoin, right?
51:19
So we don't need to have them bash, but it's on understand.
51:23
Gary Gensler is trying to shave, you know, his his whole, you
51:28
know, like history. You know, the what people are
51:32
going to think of him in this SEC is getting crypto under
51:35
control. He's already said Bitcoin can do
51:38
what it wants, you know, it's Whereas a commodity so he's not,
51:41
he's not going to go after Bitcoin because he knows he
51:43
can't win that argument. But so he's going after the
51:45
proof of stake was so, so that that's what I mean about.
51:48
Where we have these unprecedented times of the
51:51
because what are we attacking really were attacking the way we
51:55
come up with the security of the network.
51:58
And we know the Bitcoin security network works.
52:00
We have 15 almost 15 years now to prove it.
52:03
So I don't you don't Whether it's it's insincere or not, and
52:09
this is kind of, you know, maybe not that positive way of
52:12
thinking about politicians do, but I don't think they care
52:16
whether it really affects the energy or not.
52:17
It's just a good talking point. Yeah.
52:19
It's a, it's a good talking point and it's it's it's it's a
52:24
mechanism. It's a mechanism to basically
52:27
accumulate power. Like it's not really about which
52:32
true, what isn't true. And you said something really
52:35
interesting about the New York Times.
52:36
This is something that we covered on simply Bitcoin live
52:40
which is our daily live show. Is that the New York Times They
52:44
have a history. I mean they sold the American
52:46
public which you know, now we know in hindsight like in now we
52:50
know that they sold the American public that Iraq had weapons of
52:54
mass destruction. Now we know that it was the
52:56
intelligence committee. That was that was feeding that
53:00
dirt. I forget and I know her first
53:02
name is Judith, but then intelligence committee was was
53:05
feeding her that If so, it's just, it's absolutely crazy that
53:10
we're living through this time where, you know, the the
53:13
internet has given the Common Man, the ability to communicate
53:18
directly look at what we're doing right now, right?
53:22
These conversations would not be possible a decade ago or two
53:26
decades ago. We would be labeled as you
53:28
already said it crazy conspiracy theorists, right?
53:32
But it's just, it's just, it's just crazy, it's crazy times.
53:36
So Jason, we have about, you know, five minutes left.
53:39
What what is the next five years look like to you?
53:42
What's going to happen? What are things on your radar
53:44
that worry you? And I guess, you know, I'll
53:47
leave it at that. And then I'll follow up with
53:49
another question. So, five years from now, I think
53:55
that we'll have seen the next having cycle of Bitcoin.
54:02
Bitcoin will probably be a lot higher in value than it is
54:05
today. I think you'll see people start
54:08
to make the choice to go to El Salvador and other countries
54:12
because I think you will see here has the Ultimate Weapon to
54:19
really discourage people hold on to something which is taxation.
54:24
So I think that what you'll see start to be implemented is a
54:27
taxation scheme against Bitcoin. Particularly as the value goes
54:31
up, that makes it almost unreasonable to hold it and
54:35
that's goes. Like if you have it in self
54:37
custody or anything, so even if you don't sell it, even if you
54:40
don't sell it because there's this this on how its valued, you
54:46
know, and we'll see. But look, the IRS is already
54:52
noted that they feel like they can get more money from this
54:56
industry that that's out there. So the easiest way to really
55:00
shut something down, or at least control it is too heavily tax
55:04
it. So I think you'll see ya there,
55:06
Unrealised canes. And that's and that's I think
55:10
the biggest threat, I don't, you know, these other things we're
55:13
talking about. It's like right here, right now.
55:15
It's right in front of us here. Senator Warren's rhetoric.
55:19
I don't know who's going to win in 2024, but I think you're
55:22
going to see enough of a change where this whole specifically
55:26
the energy thing will die down and we'll move on to other
55:29
things that always be out there. But just remember like President
55:32
Biden like for all everyone says like it's not the worst.
55:36
The world, but he's an odd duck. Okay.
55:39
He cares about the climate so much, and that's why that's
55:43
where you see this energy focused come from because
55:45
somehow, of course, we know that it was, it was the Fudd got up
55:48
to that level where people said, oh yeah, look Bitcoin could be a
55:51
threat. We have to stop that because
55:53
President Biden, no matter what he wants to make sure, you know,
55:56
climate change is under control. So I do think, you know, we
56:00
could see a change of administration in 2024 and
56:04
that's what this country is about.
56:06
Out. I don't I think right now we're
56:08
at a heavy pressure and I think that by 2020 for when we do the
56:12
having and move into 2025 things will got start to get better,
56:15
Bitcoin will start to get more valuable.
56:17
But again, I think people will start not so much for the, you
56:21
know, Liberty aspect of things of holding Bitcoin but when you
56:25
sort of see like what California did, right?
56:27
Everyone's fleeing California because of the high taxes, you
56:30
might see that a federal basis. Yeah.
56:34
I you know, and and I, I hate to see it, but II have a feeling my
56:42
gut, my intuition is telling me, we're definitely heading down
56:46
that path. It's just its weight, its way to
56:50
beneficial for the administrative State, the Deep
56:53
state to give up the privilege of issuing money for free, that
56:58
everyone else has to work for its way to beneficial for them.
57:03
I don't think they're just going to hand over the keys.
57:05
Hey guys, look better money. Here you go, you know.
57:09
Goodbye. We're leaving.
57:10
I don't think they'll do that. So anyways, Jason I really
57:16
enjoyed this conversation. I know it was and it was pretty
57:19
heavy. This is pretty heavy but I
57:21
thoroughly enjoyed it and I really appreciate you you
57:25
joining me today. Why don't you tell everybody
57:27
where they could find you on the interwebs?
57:31
Easiest? Is that regulatory?
57:32
Jason on Twitter, DM, me there and I'll be at the Bitcoin
57:38
conference Ants in Miami. So definitely hit me up there as
57:41
well. And I will see you there as
57:43
well. All right guys thank you so much
57:46
for tuning in to another episode of Simply Bitcoin.
57:48
Ira will be back tomorrow at 12:15 p.m.
57:51
Eastern Standard Time for simply Bitcoin Live.
57:55
Love You all. Take self custody of your
57:57
Bitcoin. We will win this thing.
57:59
See you guys later.