Latest / Simply Bitcoin / BREAKING: US Gov Acknowledges Bitcoin is Beneficial | EP 916

Transcript

BREAKING: US Gov Acknowledges Bitcoin is Beneficial | EP 916 · Simply Bitcoin

• 0:03
  It's. All going to zero against
• 0:06
  Bitcoin. It's going on forever.
• 0:16
  You're against Bitcoin. You're against freedom.
• 0:20
  Yeah. Welcome to another episode of
• 0:22
  Simply Bitcoin Live. We're a number one source for
• 0:24
  the peaceful Bitcoin revolution. Code breaking news, culture,
• 0:26
  dramatic warfare. We will be your guide through
• 0:28
  the separation of money and state.
• 0:31
  Tim Draper is saying that the US government finally understands
• 0:35
  that that Bitcoin, quote, Bitcoin, is actually better for
• 0:39
  everyone. Now normally, you know, you
• 0:42
  wouldn't, you know, Tim Draper is a billionaire.
• 0:44
  He's a Bitcoin OG. He's been around the block, you
• 0:46
  could say. But what's really interesting is
• 0:49
  that Tim Draper was one of the buyers of the one of the first
• 0:55
  times that the US government sold their the, the seized
• 0:58
  Bitcoin from the Silk Road. Tim Draper was one of the
• 1:02
  buyers, so I suspect Tim Draper knows what he's talking about
• 1:06
  when he makes comments in relation to the US government.
• 1:10
  But it seems like the US government still hasn't learned
• 1:13
  their lesson because January 25th it was announced, according
• 1:17
  to this article by Block Works, that they plan to sell $130
• 1:22
  million worth of Bitcoin linked to Silk Road.
• 1:26
  And now, like, take, like, just take a look at the logic behind
• 1:29
  that, which kind of like doesn't make sense, right.
• 1:31
  So let's sell this thing that you we can't just print more out
• 1:36
  of, more out of thin air without, you know, actively
• 1:38
  investing in mining and infrastructure and all that.
• 1:41
  You actually have to, like, purchase it.
• 1:42
  You can't just print more of it. Let's sell that very scarce
• 1:46
  asset for paper money of which we could just print out of
• 1:51
  nowhere. I don't know what the logic is
• 1:53
  behind that, but I think that's Fiat for you.
• 1:55
  In other news, BlackRock continues to stack so much corn,
• 2:01
  they're up to 68,488 Bitcoin. When we started covering this on
• 2:08
  Monday, they only had 50,000 bitcoins.
• 2:11
  So and another thing to keep in mind guys is BlackRock fidelity.
• 2:16
  They seem to be the the guys that are leading the, the ETFs
• 2:19
  that are leading the pack and of course grayscale, those three
• 2:22
  that seem to be the winners right now.
• 2:25
  You have to understand that there's not enough Bitcoin to go
• 2:28
  around, right. So eventually what's going to
• 2:30
  end up happening is that there there's going to be no, they're
• 2:32
  going to want to buy more but there's not going to be any to
• 2:35
  sell which means that the price will go up right number go up,
• 2:39
  will do its thing. We haven't even entered the bull
• 2:42
  market year, which tends to be the year after the having, nine
• 2:45
  to 10 months after the having. I'm incredibly excited.
• 2:48
  And in other news, the European Union seems to be once again
• 2:54
  trying to crack down on Bitcoin mining.
• 2:57
  And of course, their excuse is the whole ESG stuff, right?
• 3:02
  So anyways, we're going to cover all of that.
• 3:04
  It's going to be a great show. We also have a very, very
• 3:06
  special guest joining us today. We have a coin entrepreneur.
• 3:09
  Entrepreneurs are the people that are building the world.
• 3:12
  Bitcoin entrepreneurs are the people that are building the
• 3:15
  future. So Lucas, very excited to have
• 3:17
  you on the show today. How you doing man?
• 3:20
  Very excited to be here. Thank you.
• 3:22
  It's a really nice night in Saigon, midnight 12:30.
• 3:31
  Saigon. Do they?
• 3:33
  Didn't they change the name? Isn't it Ho Chi Minh City now,
• 3:36
  is it? Yeah, but us locusts, you know,
• 3:38
  it's much easier to say Saigon than Ho Chi Minh City.
• 3:41
  Do you get in trouble if you say that?
• 3:43
  No, I mean, everybody thinks that Vietnam is this, you know,
• 3:48
  communist state, but it's actually the most capitalist
• 3:51
  country in the world that I've ever seen.
• 3:54
  They're all hyper capitalists. Interesting.
• 3:58
  I mean it's kind of like China, right?
• 3:59
  Like China has that same type of, you know, like the
• 4:03
  government is so-called communist, but in reality it's
• 4:07
  it's a free market. But I mean, it's a free, it's a
• 4:09
  free market country with a one party state, one party system
• 4:14
  essentially. Yeah, I usually say that.
• 4:18
  So the difference between Vietnam and China is that China
• 4:21
  they actually are able to have certain level of control over
• 4:25
  the citizens. In Vietnam it's much more
• 4:28
  anarchist. So.
• 4:30
  So they're they don't really have super control of the
• 4:34
  citizens. The government is doing their
• 4:36
  thing and then the citizens are just doing their thing going by
• 4:40
  their lives. So it's it, you really feel the
• 4:44
  freedom in Vietnam if you come here.
• 4:46
  But most people don't know about it.
• 4:48
  We say it's a it's a it's a public secret but we don't talk
• 4:52
  about it too much. We don't want too many people to
• 4:55
  come here and reveal it. Except Winekiss.
• 4:58
  Winekiss. Winekiss knows all the secrets
• 5:01
  worldwide. Anyways, I do want to bring up
• 5:03
  my legendary coach. Optimistic today.
• 5:05
  Giant smile on his face. That means we're winning.
• 5:07
  That means bitcoins going to pump.
• 5:09
  If Opti is smiling the 1st frame that he comes on, it's
• 5:13
  definitely a good thing. How you doing, Opti?
• 5:15
  You look a little bit Tanner today, bro.
• 5:17
  You. Were you out in the sun
• 5:17
  yesterday? What's going on?
• 5:19
  I mean, I took a walk. It is a little sunny today.
• 5:21
  The last couple of days, you know, I I'm, I'm breaking out of
• 5:24
  my winter hibernation. So yeah, I I had a walk
• 5:28
  yesterday. There was some sun.
• 5:30
  I don't. Maybe it's the lights.
• 5:31
  I don't know. It's the cream.
• 5:33
  Yeah, it's the. Cream.
• 5:35
  It's the cream. But yeah, man, it's.
• 5:39
  So what are we gonna talk about during the culture?
• 5:41
  Yeah, we got a lot of stuff. Yeah, we got a lot of stuff
• 5:43
  lined up for the culture today. We're gonna obviously talk about
• 5:47
  Lucas and being a Bitcoin entrepreneur.
• 5:50
  And actually, I think Lucas, you're the one that broke this
• 5:53
  news on Twitter about the Prospera project in Honduras
• 5:58
  being the first jurisdiction in the world to have Bitcoin as a
• 6:01
  unit of account. So we're gonna touch on that and
• 6:03
  then probably angle it in, especially since you're in
• 6:06
  Vietnam on maybe a little bit of a better flag theory how to be a
• 6:10
  Bitcoin nomad. You do have a podcast so we got
• 6:13
  a stack doc and actually maybe get some tidbits, some other
• 6:17
  breaking news that you you were just telling us that really have
• 6:20
  gone under the radar. So I think we're going to be a
• 6:22
  jam packed culture today. And actually before we go on
• 6:26
  Lucas, for people that don't know what is Prospera project.
• 6:30
  Prosper is a free private city, so say economic free zone.
• 6:35
  So say a country is well it has a government and it has police
• 6:42
  and military and all that stuff. An economic free zone is, say a
• 6:45
  sub unit, the jurisdiction subunit of a country.
• 6:50
  So it's independent in terms of the laws that govern business.
• 6:55
  So the civil laws, it's still protected by the police and the
• 6:59
  military. So free private cities that come
• 7:03
  from the free, private city movement.
• 7:06
  There's a book called Free Private Cities by Titus Gadel
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  and I believe that they were heavily involved in creating
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  Prospera. So it's this startup free
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  private city. I believe it's the first pure
• 7:23
  free private city in the world. The other ones are typically run
• 7:26
  by governments, or the economic free zones are usually run by
• 7:30
  governments. Prospera is actually a company
• 7:33
  owned enterprise. You are a customer if you have a
• 7:38
  company in Prospera. If you're a resident of Prosper,
• 7:41
  you're a customer. They treat you as a customer.
• 7:44
  They have a proper service organization.
• 7:46
  So it's a very different feel than interacting with a normal
• 7:49
  government. Amazing.
• 7:51
  It's almost like the sovereign individual thesis is playing out
• 7:54
  in real time. Very much so, yes.
• 7:57
  Competition between different city States and different
• 8:00
  jurisdictions. That's the whole idea and it's a
• 8:03
  beautiful place I must say as well, having visited it's
• 8:07
  pristine beaches, snorkeling from, yeah, from another world.
• 8:13
  Yeah. And amazing, you know and I I, I
• 8:14
  like to kind of focus on that, right.
• 8:16
  When jurisdictions compete for essentially your business for
• 8:21
  you to be there, you know you win as a citizen, right.
• 8:24
  I think we see a little bit of that like specifically in the US
• 8:28
  with what happened with California and New York, they
• 8:32
  went down the kind of like the totalitarian collectivist path
• 8:35
  and then you saw this giant migration towards New York,
• 8:40
  sorry, towards Texas and Florida, right.
• 8:42
  So I think that this the better flag theory and the theory that
• 8:47
  was originally laid out in the book, the Sovereign individual,
• 8:50
  I think that's going to continue to accelerate.
• 8:52
  I have a good friends of mine that are C-Suite executives in
• 8:57
  some of these public mining companies and they're renouncing
• 9:01
  their citizenship. You know, one of the one of the
• 9:03
  questions that I asked as a joke, I said, did Hillary
• 9:05
  Clinton show up at your door the next day?
• 9:08
  But apparently, no, no, they don't make that big of a deal
• 9:10
  out of it. So yeah, I I I do believe, you
• 9:14
  know, with the rise of of information technologies, the
• 9:17
  rise of the Internet, the fact that we can, you know,
• 9:20
  communicate thousands of miles away, you know, instantaneously.
• 9:23
  The fact that now Bitcoin enables us to transact the same
• 9:27
  way, I think that's going to create, you know, the the the
• 9:32
  perfect situation for the rise of sovereign individuals.
• 9:36
  And I think that's what we're starting to see.
• 9:38
  And I think we're going to see more and more and more of that.
• 9:41
  But only, ladies and gentlemen, if you're taking self custody of
• 9:43
  your Bitcoin, 'cause if not, you are totally cooked.
• 9:47
  So wake the F up anyways, ladies and gentlemen, let's get to the
• 9:50
  numbers. We have a lot to talk about
• 9:52
  today. Let's check it out.
• 9:52
  Here we go. The Bitcoin numbers.
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  kit. At the time of recording the
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  Bitcoin prices 43,580 SATS per dollar 2295 block height 828,267
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  Lightning Network capacity 4916 Bitcoin capacity value 214
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  V Market capitalization of Bitcoin 855 billion U.S. dollars
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  Bitcoin versus gold market cap 6.2% In the grand scheme of
• 11:54
  things we're still baby. Anyways, I was mentioning it
• 11:57
  earlier that the US government finally admits that, you know,
• 12:02
  quote Tim Draper. And I think Tim Draper knows
• 12:05
  what he's talking about and I'll get to that in a SEC.
• 12:09
  It's very interesting clip from Watcher Guru.
• 12:11
  I'll play the clip and I'll let you guys be the job judge.
• 12:14
  Let's check it out. So I I miscalculated on how
• 12:18
  aggressive EU how, you know scared the the US government was
• 12:24
  running and now they realize that Bitcoin's actually better
• 12:27
  for everyone. It keeps perfect records.
• 12:30
  It, you know, the the people who they all thought were criminals
• 12:34
  using Bitcoin, turns out they were all caught.
• 12:37
  So using dollars is probably better for for a criminal and
• 12:45
  and I think that there's going to be a moment where there's a
• 12:48
  run on the banks the way after the Civil War there was a run on
• 12:54
  Confederate money and there was a run on the Greek drachma and a
• 12:59
  run on the French franc when they became a part of the Euro.
• 13:04
  So I I actually think that there will be a moment in time when I
• 13:08
  can buy my food, clothing and shelter all in Bitcoin and and
• 13:14
  people won't want dollars anymore.
• 13:17
  Like, that is insane, right? That is insane.
• 13:21
  And let's kind of breakdown what he was talking about, right,
• 13:25
  where it's like, look like, you know, the US government was
• 13:27
  scared in a way. I still think that there's
• 13:29
  factions of the US government that are a little bit scared,
• 13:31
  but they realize that, holy cow, this is an open Ledger, right?
• 13:36
  You know, like it's, it's a lot easier.
• 13:38
  And one of the narratives that's been being used by Senator
• 13:42
  Elizabeth Warren is that Bitcoin is for money laundering.
• 13:45
  Bitcoin is for terrorism, where if you look at the actual data,
• 13:48
  99% of illicit finance is still done using the traditional
• 13:52
  financial system. But it's actually a lot more
• 13:55
  obfuscated than Bitcoin, which is an open Ledger, right?
• 13:59
  You can't really trace dollars, right?
• 14:01
  You can't really trace that back.
• 14:03
  So, you know, this is a very big statement from Tim Draper.
• 14:06
  However, I understand what maybe some of you guys are thinking,
• 14:10
  that Tim Draper could potentially be bias, right?
• 14:12
  Tim Draper, he's known to be a Bitcoin OG.
• 14:15
  He's, you know, I think he wears like a Bitcoin tie every time I
• 14:17
  see him and see him on TV. And not to mention the fact that
• 14:24
  he also has a large investment in Bitcoin.
• 14:26
  A lot of his net worth is in Bitcoin.
• 14:28
  However, I think Tim Draper knows what he's talking about
• 14:30
  when it comes to the US government.
• 14:33
  Here is here's this article back in 2014, right?
• 14:39
  It gives you a warning. This article is 9 years old back
• 14:43
  in 2014 and I'll I'll read read you guys the the the headline.
• 14:48
  It's from Forbes. It's a Silk Road Bitcoin auction
• 14:51
  winner, Tim Draper. Absolute legend, by the way,
• 14:55
  won't say how many millions he paid.
• 14:58
  Imagine buying millions of dollars worth of Bitcoin back in
• 15:03
  2014. What was the price?
• 15:05
  I think it was it was like 3-4 hundred dollars maybe, right?
• 15:08
  What an absolute legend. And it seems like the US
• 15:12
  government still hasn't learned their lesson 'cause it seems
• 15:15
  like they intend to send to sell more.
• 15:18
  This is an article that dropped January 25th, 2024 and it says
• 15:23
  you in the headline is US files notice to sell $130 million in
• 15:28
  Bitcoin linked to Silk Road agent again like they can't you
• 15:33
  know it's they they seized all this Bitcoin from the Silk Road.
• 15:37
  They could have just been just sitting on it, benefiting from
• 15:41
  number go up technology, but they're selling it for, they're
• 15:46
  selling it for dollars, of which they have the unique ability to
• 15:50
  print more of, and they're selling scarce Satoshi's that
• 15:55
  they just can't print more of for dollars.
• 15:58
  I have no idea what the logic is behind that, but it's also the
• 16:02
  government, and governments tend not to be the most efficient
• 16:05
  types of organizations and structures.
• 16:08
  So I find that very interesting. I also find Tim Draper's words
• 16:12
  in regards to how he feels, what the current stance of the US
• 16:17
  government is towards Bitcoin. I think that's extremely
• 16:20
  interesting at the at the very end.
• 16:23
  That made me extremely bullish. I think we're going to find
• 16:25
  ourselves in a place where one day you're just going to be able
• 16:29
  to pay for everything in Bitcoin.
• 16:31
  But before we get to that point, Layer 2 needs a lot of work.
• 16:35
  Needs a lot of work because layer two is definitely not
• 16:39
  quite there yet for this massive Bitcoin adoption wave that's
• 16:43
  inevitably coming, and I want to pass it on to the Bitcoin
• 16:46
  entrepreneur. What are your thoughts on Tim
• 16:49
  Draper's thoughts on the US government's stance?
• 16:52
  And also layer two? I don't think Layer two is ready
• 16:55
  for what Tim Draper was describing at the very end.
• 16:58
  So ever since I so I sold my company 2020 and I was thinking
• 17:04
  of how how much can I allocate in Bitcoin?
• 17:10
  How much do I dare to allocate in Bitcoin.
• 17:13
  And one of the key issues that I was thinking about was will the
• 17:18
  US government ban Bitcoin or make a heavy regulatory attack.
• 17:25
  And as I was diving down that rabbit hole, 21 mostly, I
• 17:31
  realized that and actually not only will the US government
• 17:35
  never ban Bitcoin, they will actually adopt it as the reserve
• 17:41
  asset for the US dollar to extend the lifespan of the US
• 17:46
  dollar. So I just became more and more
• 17:47
  bullish the more I thought about it.
• 17:49
  So I there is a fraction of the US government, say the deep
• 17:53
  state that doesn't like Bitcoin. They don't get Bitcoin, but I'm
• 17:57
  convinced that there's another fraction of the US deep state
• 18:00
  that is preparing to onboard the US to the Bitcoin standard.
• 18:06
  And El Salvador is just the pilot that they're running to
• 18:09
  prepare everything for the big roll up and the stable coins.
• 18:15
  If you've noticed, USDT has grown up to like $96 billion say
• 18:21
  I think it's up $30 billion in the past one or two years.
• 18:26
  That's going to be the vehicle to roll out the dollar into all
• 18:29
  the hyperinflating currency countries and then they're going
• 18:32
  to get Bitcoin as the pair with the, yeah, with the stable
• 18:36
  coins. So I think Tim Draper has
• 18:40
  probably thought about this and he probably talks to some people
• 18:43
  in the government that are deep thinkers and he may have an in.
• 18:48
  So he already knows the government is preparing and he's
• 18:51
  stacking ahead of everybody else.
• 18:54
  That's what I think. 100% he must have and cause again like
• 18:58
  he he there's a there's there's a paper trail of him buying
• 19:03
  millions of dollars off the US you know buying millions of
• 19:05
  dollars worth of Bitcoin in 2014 which is definitely worth
• 19:09
  hundreds of millions of dollars if not billions today.
• 19:13
  So it definitely has a history of of transacting with the US
• 19:16
  government. So he's definitely a person
• 19:18
  that, you know, when he says a statement like that, he's not
• 19:20
  just, it's not just some random add on on Twitter.
• 19:23
  That's just, you know, making, you know, theories.
• 19:26
  And whatever he, he, he comes from a police position or a
• 19:30
  vantage point where he has access to knowledge that we do
• 19:33
  not. Right.
• 19:34
  So it's a very strong statement. And he did say it on the legacy
• 19:39
  media. So, you know, he did say this
• 19:41
  on, you know, this isn't just a podcast or you can kind of say a
• 19:44
  little bit more of what's on your mind.
• 19:46
  You know, this is legacy television, right?
• 19:48
  Anyways, Opti, I want to get your thoughts on that video.
• 19:50
  Did that make you as bullish as it made me?
• 19:53
  I mean I stay bullish. You already know me, I'm bullet
• 19:55
  hearted AF always bullish, wake up bullish.
• 19:58
  But I mean there was a lot of signal in that clip and you know
• 20:01
  Tim Draper does have some, some people might say ridiculous
• 20:05
  price predictions. And I I just love the bull
• 20:07
  sauce. But we've been covering it for
• 20:09
  so long on the show and we probably bring it up every other
• 20:13
  show here that the real criminals are using dollars.
• 20:16
  And I mean he Tim Draper said it in that clip like.
• 20:20
  There is the narrative that criminals use Bitcoin.
• 20:23
  But you know, if if the governments are doing good old
• 20:27
  fashioned police work, then most of those criminals are going to
• 20:31
  get caught. Bitcoin is an open, transparent
• 20:33
  Ledger. I mean, there are ways to
• 20:36
  obfuscate your holdings, but you're not going to use Bitcoin
• 20:40
  to do what you can with cash. Like that's why they're moving
• 20:43
  away from cash. And to his point of whether the
• 20:46
  governments know what Bitcoin is and what they're holding, You
• 20:49
  know, part of me wants to say that they don't just cause like
• 20:53
  it's it's such an easy knee jerk reaction and and we're so
• 20:58
  contrarian when it comes to what's going on in traditional
• 21:01
  financial world. And you know Bitcoin is love to
• 21:03
  just hate on politicians but I've been seeing a very real
• 21:06
  trend that politicians and government officials and the
• 21:10
  central bankers, they all know what Bitcoin is like.
• 21:13
  I don't think we can say any more that they don't understand
• 21:16
  what Bitcoin is. You can very clearly see by
• 21:19
  their attacks or their quote, quote trying to attack Bitcoin
• 21:23
  that they understand what Bitcoin is and they're just kind
• 21:25
  of gaslighting the population. So I do believe kind of what
• 21:28
  Lucas was saying, what Tim Draper was saying and you were
• 21:30
  saying, Nico, that there is a faction of the government that
• 21:35
  knows what Bitcoin is. And there probably is a small
• 21:39
  minority of that faction that is pushing towards Bitcoin being
• 21:44
  adopted in the US And and they understand that Bitcoin will
• 21:47
  help the US. And so as as much as like
• 21:50
  Elizabeth Warren and Jamie Dimon and Christine Lagarde and all
• 21:55
  the politicians and central bankers out there are saying
• 21:58
  that, oh, Bitcoin is bad, we need to stop Bitcoin, there's a
• 22:01
  very real movement, an opposite reaction to people that are
• 22:04
  like, wait, we might need to adopt Bitcoin.
• 22:07
  Maybe we shouldn't be fighting this Bitcoin thing.
• 22:09
  Maybe it will help our citizens improve their lot in life.
• 22:12
  So it will be very interesting moving forward whether the US
• 22:17
  adopts Bitcoin or rather embraces Bitcoin.
• 22:20
  But I mean, the the fact that they're selling the Silk Road
• 22:22
  coins, it kind of makes you wonder, like, OK, what are they
• 22:24
  doing? Are they just trying to get some
• 22:26
  Fiat games? Do they understand exactly what
• 22:28
  they're holding? Or is it still kind of just a
• 22:30
  matter of time until they realize, oh wait, we need to be
• 22:33
  holding Bitcoin and not selling it for Fiat dollars, 'cause I
• 22:36
  think everyone understands that you can't be holding dollars.
• 22:39
  And and of course, they're trying to perpetuate the dollar
• 22:41
  system. But as Bitcoiners, we
• 22:45
  understand, yeah, you might want to hold some Bitcoin just in
• 22:48
  case it catches on. Maybe you don't want those
• 22:50
  dollars. Maybe the traditional financial
• 22:53
  system is a lot riskier than people would want you to
• 22:56
  believe. And that's why we're all
• 22:58
  bitcoiners here. We we realize that Bitcoin is
• 23:00
  the safest bet as far as we're concerned.
• 23:02
  So yeah, we'll see what's going on.
• 23:04
  And you know, again, Tim Draper knows probably more than I do.
• 23:07
  I just watch the news and I'm wondering, reading the headlines
• 23:10
  and like, yeah, they know exactly what they're doing.
• 23:13
  You you you can only gaslight me for so long before I'm like they
• 23:17
  are working a playbook and soon enough they'll be like it's a
• 23:21
  classic playbook, like FUD, Bitcoin, stack your bags and
• 23:24
  then be like, yeah, Bitcoin's great, we love Bitcoin.
• 23:26
  Exactly, exactly. Anyways ladies and gentlemen,
• 23:30
  before and we move on, I do want to give a couple shout outs
• 23:33
  guys, join Simply Bitcoins Telegram group.
• 23:35
  It's absolutely free. Go to T dot me slash simply
• 23:38
  Bitcoin TV. It's a party in there.
• 23:40
  It's we got over 1000 people just dropping memes, dropping
• 23:43
  some funny ass content in there. So make sure to join.
• 23:46
  Shout out to Darth Maude for for holding it down.
• 23:49
  And of course I also want to guys.
• 23:53
  It really, really helps us with the YouTube algos.
• 23:55
  If you smash that like button, if you're enjoying the content.
• 23:58
  And of course if you're watching us on Rumble, I think we hit 77
• 24:03
  viewers on Rumble today. Opti, that Rumble audience is
• 24:05
  picking up. And of course, if you're
• 24:07
  watching us on X or Twitter, also make sure to Smash that.
• 24:11
  Like really, really helps with the algos.
• 24:13
  Like I said. Anyways, guys, no more delay.
• 24:15
  Let's jump straight into the news.
• 24:16
  We have a lot to talk about today.
• 24:18
  Let's check it out. Here we go.
• 24:20
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  your keys, not your cheese. You definitely want to take self
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  and Scott's Build a Mine boot camp.
• 26:59
  Anyways, ladies and gentlemen, quick update on BlackRock.
• 27:02
  So let's check this out. Check out how much Bitcoin they
• 27:05
  own. They have about 2.7 million,
• 27:08
  $2.7 billion worth of Bitcoin at the moment and they have 63,488
• 27:16
  bitcoins right the beginning of the week they had 50,000.
• 27:20
  Just to kind of give you an idea of how much Larry Fink and
• 27:23
  BlackRock is stacking. It's not only BlackRock that's
• 27:25
  doing this, of course you have fidelity as well anyways, but
• 27:30
  just to it's sometimes it's important to kind of zoom out,
• 27:33
  to kind of get like a feel for, you know, the the, the Bitcoin
• 27:37
  mix. Now, this isn't exactly
• 27:39
  verifiable. This is just like kind of like
• 27:41
  an estimate, right? But this is essentially who who
• 27:44
  holds what, right. The vast majority of Bitcoin is
• 27:47
  held by individuals. A portion is owned by Satoshi,
• 27:50
  which I believe is never going to move about.
• 27:52
  It's estimated. I'm going to ask Lucas this How
• 27:54
  much Bitcoin do you think it's lost is lost?
• 27:58
  4 million. I agree.
• 28:00
  I agree. That's that's that's my
• 28:02
  estimation as well. Then of course there's the
• 28:05
  unmined Bitcoin, there's governments and it just
• 28:08
  continues to get smaller. Shout out U.S. government for
• 28:11
  selling that Bitcoin defy that's I think that rapid, even though
• 28:16
  that's not such a whatever. Then there's funds, right?
• 28:19
  You know you have BlackRock and then of course you have
• 28:21
  companies with Chad Saylor included in there.
• 28:24
  But the vast majority is held by individuals.
• 28:26
  This is one of the first big assets, very popular assets
• 28:30
  where the individual, the average everyday Joe had the
• 28:34
  opportunity to front run, front run Wall Street and I think
• 28:38
  that's a really, really big deal.
• 28:40
  Anyways, the news story I do wanna cover today.
• 28:42
  This is a bit of a long article so I don't know if I'm gonna be
• 28:44
  able to. It's not so much, but I'm gonna
• 28:47
  try to get through it as much as possible because it's important
• 28:50
  that we stay on top of this. And this is a shout out Marty
• 28:53
  Bent. He has amazing content.
• 28:55
  You can go check him out on Twitter and you can go to TFTC
• 28:58
  dot IO for more of these awesome articles.
• 29:01
  So the name of the article is the EU is Attacking Proof of
• 29:04
  Work. It's important to be clear here.
• 29:06
  The only thing these requirements will accomplish, if
• 29:09
  they are written into law, is the prevention of European
• 29:11
  citizens from reaping the benefits of the most radically
• 29:14
  liberating technology humanity has come into contact with
• 29:18
  within centuries. Here's something that that's not
• 29:21
  being talked about enough in Bitcoin circles.
• 29:23
  The European Union could potentially enshrine quote.
• 29:26
  The name of the regulation is Technical Standards Specifying
• 29:30
  Certain requirements of markets in crypto asset regulations,
• 29:34
  also known as Mika, as laid out by the European securities
• 29:38
  Market authorities later this year that if passed, would
• 29:41
  kneecap Bitcoin mining across the EU among a slew of other
• 29:44
  actions that would prohibit individuals from leveraging the
• 29:47
  full potential of Bitcoin's sovereign properties.
• 29:50
  But before you get your panties in a bunch, remember they did
• 29:53
  this in China, one of the most totalitarian.
• 29:56
  You know, they have one of the most totalitarian governments in
• 29:59
  the world, and not only were they not able to ban Bitcoin
• 30:03
  mining outright, it's still estimated that between 10 to 15%
• 30:06
  of the hash rate is still located in mainland China.
• 30:08
  But we read you an article last week from Reuters that literally
• 30:12
  said that that the Chinese people are fleeing the Chinese
• 30:16
  stock market to safe havens like Bitcoin, despite it being
• 30:20
  banned, right? And that's bitcoins incentives
• 30:22
  for you? Anyways, the article goes on to
• 30:24
  say, as should be expected from a collectivist society that has
• 30:28
  completely shot itself in the foot over the course of the 21st
• 30:30
  century with objectively suicidal energy policy.
• 30:34
  The ESM as main grip or gripe with Bitcoin mining is its
• 30:39
  energy consumption, preferring that Bitcoin transact transition
• 30:42
  to a less in in energy intensive proof of stake consensus
• 30:46
  mechanism and pointing to Ethereum as a responsible
• 30:49
  project that successfully made the transition.
• 30:51
  Now here's the thing about Ethereum.
• 30:54
  Ethereum is the majority and you guy, don't take my word for it.
• 30:58
  You can verify this for yourself.
• 31:00
  The vast majority of Ethereum nodes are run on servers,
• 31:04
  specifically AWS. So if you want to know who you
• 31:07
  know Bitcoin is, is backed by these Bitcoin miners all around
• 31:11
  the world. But if you really want to know
• 31:12
  who is actually running Ethereum, don't look at Vitalic,
• 31:15
  look at Jeff Bezos. Anyways, it goes on to say this
• 31:18
  is a cute virtue signal, but it is nothing more than that.
• 31:21
  A couple of freedom fighters in the EU have submitted a letter
• 31:25
  to the ESMA and defense of Bitcoin, the Bitcoin mining
• 31:28
  industry highlighting Bitcoin is a potent tool for activists who
• 31:32
  find themselves under oppression.
• 31:34
  It goes on to say in the thread below, one of the activists lays
• 31:37
  out the two critical moves the EU would make if these
• 31:40
  requirements are ridded into law.
• 31:42
  It goes on to say so. Luda Luda, which is the activist
• 31:46
  who decided the ECB will be able to decide whether Bitcoin gets a
• 31:50
  bad ESG rating. This is such a conflict of
• 31:53
  interest. The enormity of this power and
• 31:55
  the inappropriateness of them getting to the side has just hit
• 31:59
  me. There are several several
• 32:00
  regulatory approaches developed by the EU Commission based on
• 32:04
  the ECB, experts of the EP, economics recommendations,
• 32:08
  riband of proof of work. In general, we see the main
• 32:11
  trends are to expand the ECB's remit to economically de
• 32:15
  incentivize. It goes on, it just keeps going.
• 32:17
  But remember, we know how the ECB feels about this and also
• 32:21
  why is the ECB a part of this. And for anyone who doesn't know
• 32:24
  what the ECB stands for is the European Central Bank, why are
• 32:26
  they a part of this conversation?
• 32:28
  We know that Opti's ex-girlfriend Christine Lagarde
• 32:31
  is not a fan of Bitcoin. She calls it an escape valve.
• 32:34
  She literally, we played you guys a video last week of her
• 32:37
  saying that if they aren't able to successfully roll out the
• 32:40
  CBDC's then it would call into question the, the the IT would
• 32:46
  basically point it where it can central banks survive if people
• 32:50
  aren't being forced to use these CBD CS if they have competition.
• 32:54
  And my it means she's come. She came to the conclusion
• 32:57
  herself. She was like I I don't think so
• 32:59
  right. And you know of course she calls
• 33:00
  it innovation and she calls it, you know, we have to facilitate
• 33:04
  payments. But in reality I think it has to
• 33:06
  do with controlling the money anyways.
• 33:07
  It goes on to say while the focus of these requirements
• 33:09
  focuses on the impact of proof of work, the ESMA is trying to
• 33:13
  quote economically de incentivize or even prohibit
• 33:16
  investment into Bitcoin or Bitcoin adjacent products as a
• 33:19
  fight with threat to environment security.
• 33:22
  This makes it sound like the EU would enact tax policies that
• 33:25
  would make it uneconomical for entrepreneurs to start Bitcoin
• 33:29
  businesses and to outright ban people from starting any
• 33:31
  businesses that is Bitcoin related due to the fact that it
• 33:35
  would be anchored to bitcoins proof of work in some fashion.
• 33:37
  Beyond this, their justification for the ABALA, for the abolition
• 33:42
  of proof of work is that it threatens Europe's energy
• 33:44
  security. This is real rich, which when
• 33:47
  you consider the fact that the biggest threat to Europe's
• 33:50
  energy security is the energy policy that it has set over the
• 33:54
  last 20 years. The death pack, better known as
• 33:56
  quote net 0 carbon emissions, has created an artificial
• 34:00
  scarcity of energy infrastructure that has put the
• 34:02
  EU at risk. Bitcoin miners are not the
• 34:05
  problem. If anything, they could be a
• 34:07
  crucial part of the solution. If Europe gets its act together,
• 34:11
  reverse course on the horrid energy policy and commit to
• 34:15
  building back, building back reliable base load energy
• 34:19
  sources. Incorporating Bitcoin miners
• 34:21
  into a plan to build back reliable base load would
• 34:24
  significantly reduce the payback period on new power plants
• 34:28
  because the plants would be able to produce revenue as
• 34:30
  transmission lines were being built out and could ensure that
• 34:34
  revenue is maximized once transmission lines are, once
• 34:37
  transmission lines are finished by having miners mining
• 34:41
  operations soak up any excess capacity.
• 34:43
  So I mean like in my opinion, and maybe I'm just a jaded
• 34:48
  bitcoiner and I'm just going to read the final thought.
• 34:52
  It goes on to say it is important to be clear that the
• 34:54
  only thing these requirements will accomplish if they are
• 34:56
  written into law, is the prevention of European citizens
• 34:59
  from reaping the benefits of the most radically liberating
• 35:01
  technology humanity has come into contact within centuries.
• 35:04
  Bitcoin wouldn't even notice that the EU cut itself off from
• 35:07
  the network. Other countries would recognize
• 35:10
  the opportunity that Bitcoin represents, will take an
• 35:12
  advantage of that opportunity and surpass the EU as it renders
• 35:16
  itself an anti progress regime. Final thought, bully mode.
• 35:21
  So absolutely great article from Marty Bent.
• 35:24
  Marty Bent drops hot fire. But this is what I got to say
• 35:26
  guys and I think this is optis quote so I can't, I can't take
• 35:29
  credit for it. You can't ban Bitcoin.
• 35:31
  You can only ban yourself from Bitcoin, right?
• 35:35
  You can't make this go away because Europe does this.
• 35:38
  Did they not learn what happened in China?
• 35:41
  Right? The CCP banned Bitcoin mining
• 35:43
  within nine months. The hash rate recovered and the
• 35:46
  hash rate further decentralized in the process.
• 35:48
  You can't stop the honey badger. You can't stop this thing.
• 35:52
  You're only hurting yourself in the process.
• 35:54
  You're shooting yourself in the metaphorical foot, like if
• 35:57
  Europe wants to have fun staying poor.
• 35:59
  OK, that's more SAT's for us. I tweeted this out, I think it
• 36:02
  was this morning, or maybe it was a couple months ago.
• 36:04
  But I basically said, look, I'm more optimistic about the global
• 36:07
  South in Bitcoin adoption than I am.
• 36:11
  You know, with these countries that most benefit from their
• 36:16
  Fiat money printers, right? This, all this stuff too.
• 36:20
  You can just like kind of boil it down to this, this is Fiat
• 36:23
  thinking. None of this would be possible
• 36:25
  without Fiat. This is just like this is
• 36:27
  ludicrous, right? The energy policies, you know,
• 36:30
  trying to essentially ban Bitcoin mining, I don't believe
• 36:33
  it has anything to do with the environment.
• 36:35
  There's a great example in Norway where there's a, there's
• 36:39
  certain political parties in Norway, they wanted to ban
• 36:42
  Bitcoin mining even though 98% to 99% of Bitcoin mining in
• 36:48
  Norway uses renewable, quote UN quote, renewable energies, and
• 36:52
  they still wanted to ban it. I think that this is a political
• 36:56
  stance. I think this is a political,
• 36:58
  this is a this has political motivations.
• 37:00
  I mean, why is the European Central Bank involved in the
• 37:03
  decision making, right? This is just utter BS.
• 37:06
  So, I mean, you know, the government of Europe is going to
• 37:09
  make it hard for some of the lives of some European citizens.
• 37:13
  But in the process, and Lucas and I were talking about this
• 37:16
  before the show, this is where the better flag theory comes in.
• 37:19
  You guys want to have fun staying poor governments in
• 37:22
  Europe, the bitcoiners, which are going to be the wealthiest,
• 37:26
  you know, the wealthiest population on the face of the
• 37:28
  earth in the next 10 to 20 years, they're just going to say
• 37:31
  peace out. El Salvador looks great from
• 37:34
  where I'm standing from. So yeah, I mean, Europe have fun
• 37:37
  staying poor. That's your decision.
• 37:39
  You're you're bringing this upon yourself.
• 37:41
  You're not going to accomplish the thing that you want to
• 37:43
  accomplish, which is to make Bitcoin go away.
• 37:46
  Bitcoin's here to stay. The more, the the faster that
• 37:49
  governments and central banks come to terms with that, the
• 37:53
  faster that they themselves will benefit from Bitcoin.
• 37:56
  I mean, look at what Tim Draper was saying in the very beginning
• 37:59
  in regards to the US government. Even the US government is coming
• 38:02
  to terms that, hey, maybe this thing is beneficial if you are
• 38:06
  to believe what he was saying. Anyways, I'm going to pass it on
• 38:08
  to Lucas. Lucas, you are a Bitcoin
• 38:10
  entrepreneur. You're also a bit of a Bitcoin
• 38:13
  nomad, so you're definitely taking advantage of the better
• 38:16
  Flag theory. Is Europe shooting itself in the
• 38:18
  foot metaphor? Oh.
• 38:19
  My God, I was just thinking when you're talking, how can I even
• 38:23
  say anything positive? I I'm so depressed seeing what's
• 38:27
  happening in Europe and honestly when when I was traveling for
• 38:33
  the past two years we're meeting so many bitcoiners from Europe
• 38:39
  that are emigrating that they've left Europe.
• 38:42
  They're homeless and just trying to find a new place.
• 38:47
  El Salvador, Argentina, checking out East Asia, Bali, Europe is
• 38:55
  really being depopulated by the people that have foresight and I
• 39:00
  don't know if, Do you guys have any idea of if, if there's any
• 39:05
  possibility of this not going in the direction where it's going?
• 39:09
  Because I just don't see any stop, I don't see any end.
• 39:13
  What's your take? Yeah, I mean I I think that I
• 39:17
  think I, I had, I had Jeff Booth on a couple months ago, it was
• 39:23
  probably February of 2020. No, it's almost a year now.
• 39:28
  But I asked him essentially a very similar question.
• 39:30
  I said, does it worry you that in the West, you know, people
• 39:37
  just don't care. They they're so distracted by
• 39:41
  the bread and circuses like they don't, they're not really aware
• 39:44
  of what's going on. And he says, well, Nico, it
• 39:47
  makes sense that, you know, in places that are further away
• 39:52
  from the benefit of further away from the monopoly, further away
• 39:57
  from the strong Fiat money centers, right.
• 40:01
  Whether it's, you know, the European Union or you know in
• 40:04
  the United States, it's right the, you know, the Federal
• 40:06
  Reserve, the European Central Bank or any, basically any
• 40:09
  country that has a strong Fiat currency.
• 40:13
  He's basically, he was saying he's like, it would make sense
• 40:15
  that their populace would be the last to wake up to that reality.
• 40:19
  It's actually people further away from them, from those
• 40:23
  benefits that are first going to awaken and start to ask
• 40:26
  questions about, hey, you know, what is money, what is this?
• 40:30
  What is that so? I thought it was.
• 40:31
  A really good answer. Add one thing for those that
• 40:34
  aren't in Europe, I'm I'm sure that there's a lot of listeners
• 40:38
  in in the States and in that part of the world.
• 40:42
  I think it's hard to understand how indoctrinated the Europeans
• 40:49
  are with state propaganda. So back in the pre Berlin Wall
• 40:55
  days, like when before the Berlin Wall fell and the East
• 41:00
  Europe had really heavy propaganda, Communist propaganda
• 41:04
  was being pushed on to the populace.
• 41:07
  But what was common then amongst the common man was that
• 41:12
  everybody knew that this there's just one thing that's certain is
• 41:17
  that they're lying. And the difference today with
• 41:21
  the populace in Europe is that everybody believes everything
• 41:27
  they say. And I I find that to be the
• 41:29
  really scary thing, even after all the bullshit with the COVID,
• 41:34
  all the lies that were being told.
• 41:36
  And still everybody in Europe, or at least W Europe, believes
• 41:42
  everything the governments are saying, meaning that basically
• 41:46
  they can push any agenda, any in any direction.
• 41:51
  And I don't see any stops. So it seems like the ECB is
• 41:56
  having Europe by the balls and it doesn't really seem like the
• 42:00
  US maybe. So happy letting go of the great
• 42:06
  position that US has versus Europe.
• 42:08
  So Europe may become the sacrificial lamb, just go down
• 42:14
  and just go down the CBDC route while the US adopts the Bitcoin
• 42:20
  as the reserve asset. And yeah, we're going to become
• 42:24
  the new global N We're not going to have what we used to have.
• 42:29
  We're going to be the cute destination for the Asians and
• 42:33
  the Latin Americans and Africans and N Americans to come visit
• 42:37
  and watch our beautiful castles. And we're going to be begging in
• 42:42
  the streets for for some some cash because we're going to have
• 42:46
  useless CBD CS. 100%, beautifully, beautifully,
• 42:49
  beautifully put. I love that, Opti.
• 42:51
  What's your take on all this, bro?
• 42:54
  Yeah, well, first going back, you started with like the ETF
• 42:57
  news in BlackRock and it just, it's absolutely incredible how
• 43:01
  much Bitcoin is being scooped up by these ETFs.
• 43:04
  It just goes to show that there is so much demand or rather
• 43:07
  there is, you know, like a geyser of customers out there
• 43:11
  that want to get exposure to Bitcoin.
• 43:13
  And at this rate, if they keep scooping up more Bitcoin, it's
• 43:17
  only a matter of time until price really starts to run and
• 43:20
  this bull run gets kicked off. And then you went into the
• 43:22
  Bitcoin scarcity and it, you know, I know we always talk
• 43:25
  about the 21 million hard cap, but it it's really incredible or
• 43:28
  rather interesting how many people forget that Bitcoin is
• 43:32
  even more scarce than 21 million.
• 43:34
  And you know, we have the estimates of like what, 4
• 43:37
  million lost. So that's what like 1617 million
• 43:42
  bitcoins in total. I I think people really forget
• 43:45
  what digital scarcity means, or rather even what scarcity means
• 43:48
  in general. OK, now the next topic, EU
• 43:51
  banning proof of work. Remember the article that we
• 43:55
  pulled up? I think it was Nika last week.
• 43:57
  It was the Fed. It was it was them attacking
• 44:00
  Bitcoin. And the TLDR is basically like
• 44:03
  proof of work is bad and proof of authority is good.
• 44:05
  And here we have just more receipts and and further people
• 44:10
  and other governments saying the same thing.
• 44:12
  Like it's absolutely incredible that they want to stop proof of
• 44:14
  work because it just goes to show that they just kind of want
• 44:18
  to continue the Fiat decreeing. They want to tell you from up
• 44:21
  high this is what money is. Don't, don't work for your
• 44:24
  money. Don't you know, don't waste
• 44:26
  energy on on this Bitcoin thing. It's a scam.
• 44:29
  And you know, as everyone sings in the chat, like the European
• 44:32
  Union just wants to have fun staying poor, like Bitcoin
• 44:35
  doesn't waste energy, it actually does the opposite.
• 44:38
  It scoops up energy. And it's really interesting when
• 44:42
  people come out and say that Bitcoin is bad for the
• 44:45
  environment because when you look at the data, and of course
• 44:47
  they're not looking at the data, they just want click bait
• 44:50
  headlines. Bitcoin is actually good for the
• 44:53
  environment in in a bunch of different ways.
• 44:56
  But anyways, back to the whole EU stuff and what we were just
• 44:59
  talking about. You know, Bitcoin is global
• 45:01
  phenomenon and if the EU wants to cut itself off from Bitcoin,
• 45:04
  like so be it. I absolutely love when the
• 45:07
  Status and these grand federal governments come out against
• 45:13
  Bitcoin because it just proves to me why we need Bitcoin in the
• 45:16
  1st place. Of course they're not going to
• 45:17
  let their their Moat go away and and dissolve in real time.
• 45:21
  They're going to scramble and control it.
• 45:24
  And the more they try to corral people into their literally
• 45:27
  worthless pieces of paper, the more that I know that we're on
• 45:31
  the right track. And as bitcoiners, we have the
• 45:33
  right perspective and we understand what's actually going
• 45:36
  on. And they're not going to
• 45:37
  gaslight into what dropping and selling our Bitcoin for paper
• 45:40
  money, like, it just doesn't work that way anymore once you
• 45:43
  understand Bitcoin, once you change the mental paradigm, the
• 45:47
  operating system from Fiat to Bitcoin, there's no going back.
• 45:52
  You're like, yeah, I'm storing my value in Bitcoin, thank you
• 45:54
  very much. You guys can debase your
• 45:56
  currencies. You guys can have fun staying
• 45:57
  poor. By all means, do what you think
• 45:59
  is best for yourself. But I know what I am doing and I
• 46:03
  feel great about it. And you know, again, I think
• 46:05
  there is a theme on today's show, especially with Lucas
• 46:08
  coming on and we talk about this all the time, that the sovereign
• 46:11
  individual thesis is playing out, people will move to
• 46:14
  different jurisdictions. But you know, I don't want to
• 46:16
  leave my home. So I'm.
• 46:17
  I'm still a holdout that these either psychopaths in power
• 46:24
  realize that they're shooting themselves in the foot, or
• 46:27
  individuals realize that they don't have your best interests.
• 46:30
  Like we're at, we're we're at this deadlock right now where
• 46:34
  the federal governments of the world, the institutions of the
• 46:37
  world, they're going to push and they're gonna keep pushing until
• 46:40
  people realize, oh wait, they don't have my best interests in
• 46:43
  mind. They're just trying to maintain
• 46:45
  their Moat. And I think this is what's
• 46:47
  playing out right now. You you see the EU, you see the
• 46:51
  US, you see a lot of First World nations basically ensuring that
• 46:56
  their citizens stay poor by fighting Bitcoin.
• 46:59
  And then you see individuals realizing that, oh wait, my
• 47:03
  government doesn't have my best interest in mind.
• 47:06
  Maybe I should buy some Bitcoin. Maybe I should protect myself
• 47:09
  because they aren't going to protect me.
• 47:12
  And the nanny state is crumbling in real time and more people are
• 47:15
  waking up to the idea that, wait, these people want to
• 47:19
  continue to steal my liberty and steal my wealth and and push as
• 47:24
  much as flashing as possible, and I have to do something about
• 47:28
  it because they won't. So, yeah, gentlemen.
• 47:30
  One positive thing to say about the US actually is in I wasn't
• 47:36
  Prosper last or 2022 and I was sitting with an American from
• 47:42
  Texas, Houston, and sitting with a few Europeans and us
• 47:49
  Europeans. We were very negative on what
• 47:52
  European Union would do with our liberties with Bitcoin and so on
• 47:56
  and and the American just kept on Emilio, he's, he's has a
• 48:00
  scuba dive shop there you can dive down to Satoshi's grave.
• 48:05
  Apparently Satoshi's buried there anyways.
• 48:07
  So Emilio was saying that you know that US was the first
• 48:13
  country where people in millennia got real freedom.
• 48:17
  Basically the Europeans left the feudal Lords.
• 48:21
  The feudal system in Europe set up a new system in the US and
• 48:26
  have lived in this new free system for hundreds of years.
• 48:30
  And once people have tasted freedom, really know what
• 48:34
  freedom means? They hardly.
• 48:37
  It's hard pressed for them to give it up.
• 48:41
  So actually the Americans will not go down easily, they will go
• 48:46
  down fighting hard whilst the European we're like we're
• 48:49
  already given up, we're going to be ruled and we're going to be
• 48:52
  ruled hard and you know the our overlords are going to come and
• 48:55
  rape our women and we're toast anyways whatever we do.
• 48:59
  But the Americans, you guys actually have this, the idea
• 49:03
  that you can actually win. So I think there is something to
• 49:06
  be said for staying in the US finding a good spot that you
• 49:10
  don't necessarily have to leave. 100 percent 100% I.
• 49:15
  Agree 100%. I I think that's the like,
• 49:18
  that's the the the that's the signal right there is the fact
• 49:22
  that you know, America was born even though it's been totally
• 49:26
  cooked by now. But America was born with this
• 49:29
  kind of revolutionary mindset, right, This, this mindset of
• 49:33
  it's even ingrained in the Constitution.
• 49:36
  If that actually matters so much these days, they're eroding it
• 49:41
  day by day. But you know, the fact that
• 49:43
  freedom of speech is at the very top, right?
• 49:45
  The right, the, the the fact that it's the rights for
• 49:48
  individuals, not only the state, to bear arms and that that makes
• 49:53
  it, you know, it's it's a, it's a rebellious country and Europe
• 49:57
  never really had that. They, you know, they still have
• 49:59
  kings, bro. You know, like and there's
• 50:02
  nothing wrong with that, right? There's nothing wrong with kings
• 50:04
  and stuff. But of course that it's what you
• 50:07
  said like no one really has no one really tasted it as much as
• 50:12
  you know America did specific with the with the American
• 50:15
  Revolution and the Enlightenment and the way that all that went.
• 50:19
  So yeah, 100% agree with that. I.
• 50:21
  Mean, Nico, to that point. Like Europeans are the ones that
• 50:24
  literally stayed and we're just like, yeah, we'll just take
• 50:27
  this, this is fine. And the Americans are like the
• 50:29
  ones like, yeah, we've had enough, we're gonna start our
• 50:31
  own nation. So, like, it's a fundamentally
• 50:33
  different ideology. 100 percent, 100%.
• 50:37
  Well, ladies and gentlemen, before we get on to the next
• 50:41
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• 52:46
  Well, let's get into some of these news stories we got here
• 52:50
  for you guys. We'll start with the Prospera
• 52:54
  unit of account news that just dropped.
• 52:57
  Very few people heard about this, so maybe you'll take the
• 53:00
  reins here and I'll pull up this tweet while while you're talking
• 53:02
  so people can see this for themselves.
• 53:04
  OK, So what is unit of account? Let's start there.
• 53:09
  So when you have a company, you have to do accounting, because
• 53:16
  unfortunately the tax man wants to tax you.
• 53:21
  But also you want to know what's happening in your business.
• 53:24
  You want to be able to report to your management team.
• 53:27
  You maybe want to report to your board.
• 53:30
  So you need to decide which currency you use to count,
• 53:35
  right? You need to do the plus and
• 53:37
  minus and and all the accounting in a currency.
• 53:41
  So either you choose the dollar, euro, the Zimbabwean dollar is
• 53:46
  not great but may you may have to use it.
• 53:48
  If you're in Zimbabwe for example.
• 53:51
  And now with this decision in Prospera that they will approve
• 53:58
  to use Bitcoin as unit of account, you can use Bitcoin as
• 54:03
  the accounting currency in Prospera.
• 54:06
  So for the organization that you have, if it's a business or a
• 54:09
  non profit, you can let your accountants do it in Bitcoin.
• 54:17
  And now why is that? Why is that interesting?
• 54:21
  Why is that relevant? Can't you already do that?
• 54:24
  El Salvador has Bitcoin as a legal tender, right?
• 54:27
  So you should be able to do it in El Salvador.
• 54:29
  No, in El Salvador you have to use the dollar as the unit of
• 54:33
  account, so it's still not any other place in the world.
• 54:38
  Prosper is the first place in the world since a couple of
• 54:41
  weeks back where you can register company or a nonprofit
• 54:46
  and you can run that with Bitcoin as your unit of account.
• 54:49
  Okay. So why does it matter what
• 54:51
  what's what? Why is this useful?
• 54:53
  Well, so if you are running your business with, say, the dollar
• 54:59
  as unit of account, but you are doing a lot of transactions in
• 55:04
  dollars or in Bitcoin, then what happens is that you always have
• 55:09
  to keep track of the conversion between the dollar and Bitcoin.
• 55:13
  So what is the dollar price of the Bitcoin that you're
• 55:17
  spending? Or what is the dollar price of
• 55:19
  the Bitcoin that you're receiving?
• 55:21
  So you always have to keep 2 currencies in mind and that is
• 55:27
  really annoying. That's the first thing because
• 55:30
  usually you only have to manage one currency.
• 55:32
  It's really annoying. Always have to manage the
• 55:34
  conversion rate and but also what people that are not
• 55:41
  entrepreneurs may not think of as the administration.
• 55:46
  So when when you're doing your accounting, you typically don't
• 55:49
  do your accounting on a daily basis and if it's if you're good
• 55:54
  at it, you do it on a monthly basis or you do it on a
• 55:57
  quarterly basis. But quite often founders,
• 56:02
  entrepreneurs end up doing their accounting on a yearly basis.
• 56:05
  So actually have to go back and look at old receipts and figure
• 56:10
  out Okay, this transaction. It was this much Bitcoin.
• 56:13
  So how much was that in dollars at that point in time?
• 56:16
  Okay. So now you think, Okay, of
• 56:18
  course, that's just recorded in the software that you're using,
• 56:21
  right? Well, in the Fiat system, it's
• 56:24
  typically recorded the conversion rate between Euro and
• 56:28
  dollars. If you're using Euro as your
• 56:30
  unit of account, you're transacting in dollars.
• 56:32
  You typically get the conversion rate automatically in the
• 56:35
  software that you're using with the card or things like that.
• 56:38
  But actually a lot of Bitcoin software doesn't do that
• 56:42
  properly, so it doesn't give you the conversion rate.
• 56:46
  You can't extract the records properly.
• 56:49
  So when you're going back and trying to figure out, OK, what
• 56:52
  was this transaction, what was the value of this transaction in
• 56:55
  the unit of account? Oh no, wait, the exchange rate
• 57:01
  now changed 20 or 30% and it's really hard to figure it out and
• 57:06
  it takes just a lot of time. And so it's really annoying and
• 57:11
  tedious to not have Bitcoin as unit of account if you are doing
• 57:15
  the majority of your transactions in Bitcoin.
• 57:18
  You're paying your salaries, you're seeing payments from
• 57:20
  customers, you're doing your consulting, or you're selling
• 57:24
  your software in Bitcoin. But there's another thing.
• 57:27
  Now, once you've done your accounting, you're handing it
• 57:30
  over to your accountants, now accountants, for some reason.
• 57:35
  So their their job is supposed to be to handle the accounting
• 57:39
  right? So they should be good with
• 57:40
  numbers, but as soon as they encounter Bitcoin for any
• 57:44
  cryptocurrency. But I mean, I'm a Bitcoin
• 57:46
  maximalist. I only care about Bitcoin.
• 57:48
  So as soon as they encounter Bitcoin, they get a brain freeze
• 57:53
  and very often the countless just can't think like a normal
• 57:57
  accountant anymore. So you kind of have to hand hold
• 57:59
  them and help them through, OK, how am I going to do the
• 58:03
  accounting for this and that even though it's accounting
• 58:05
  basics and so that's really annoying.
• 58:08
  And then on top of that, you have the auditor.
• 58:11
  So the auditor is the one that then looks at the books.
• 58:15
  After the accountants are done doing all the counting for the
• 58:18
  year, the auditors come in and they're like Okay, Was
• 58:21
  everything done correctly? Well, now you have to worry
• 58:24
  Okay. Will the auditor understand
• 58:26
  what's going on here and how much pain is the auditor going
• 58:30
  to give the accountant that's then going to give you pain as
• 58:34
  an entrepreneur? So I've experienced this myself.
• 58:37
  So I've I've done a bunch of transactions in Bitcoin in my
• 58:41
  companies, and I've just ended up regretting doing that because
• 58:46
  it's just too annoying, too much, too much interactions with
• 58:50
  accountants that are not so pleasant.
• 58:53
  And so I I just noticed that I started avoiding it.
• 58:56
  So when I was planning to start my new company, or as I'm
• 59:01
  planning to roll out my new company, I've been building my
• 59:05
  next my software for the past few years.
• 59:08
  I've been thinking, OK, how can I receive as much Bitcoin as
• 59:12
  possible without having all that headache?
• 59:14
  And that's where the conversation with Prospera
• 59:18
  started. I fell in love with the
• 59:20
  jurisdiction. It's a super beautiful place.
• 59:24
  That's the first thing. But then it's a super cool
• 59:27
  setup. The team is really awesome, but
• 59:31
  also they don't have a currency regime.
• 59:35
  So I thought, OK, they are actually prepared.
• 59:39
  Oh, there are some pictures. Exactly.
• 59:40
  Beautiful, beautiful place. You see the pool there?
• 59:44
  That's Las Bananas. That's where I was having the
• 59:46
  freedom conversation with the media to the right of that pool.
• 59:50
  I was blowing my brains out of this perspective of the
• 59:53
  Americans as the freedom people. And anyways, so so.
• 1:00:00
  They're actually Prospera was already prepared to accept any
• 1:00:04
  unit of account because their legislation for tax and and and
• 1:00:09
  other things was currency neutral.
• 1:00:11
  And so they and they are already operating themselves with
• 1:00:17
  Bitcoin with USDT and and they're also accepting I think
• 1:00:22
  other cryptocurrencies but they're they're very open as a
• 1:00:26
  jurisdiction. So they they after a bunch of
• 1:00:31
  conversations they concluded that OK this is worth for us to
• 1:00:36
  be the first to serve the Bitcoin economy.
• 1:00:39
  There's a huge Bitcoin economy, the Bitcoin GDP if you will.
• 1:00:46
  You could say it's like $850 billion.
• 1:00:49
  Of course there's a bunch of lost Bitcoin, but there's a lot
• 1:00:52
  of bit corners that are starting companies now with layer two
• 1:00:57
  like Lightning, like Liquid. So there's a lot of new Bitcoin
• 1:01:04
  entrepreneurship happening and those entrepreneurs are getting
• 1:01:08
  a lot of investment from Bitcoin VCs.
• 1:01:10
  There's a lot of new Bitcoin VCs being funded so why wouldn't we
• 1:01:15
  as a jurisdiction and maybe capture some of that investment
• 1:01:19
  and serve serve those entrepreneurs.
• 1:01:22
  So they they have had a little bit of a run in with the recent
• 1:01:30
  the new government in Honduras which is a socialist government
• 1:01:34
  so they don't really like this freedom project too much.
• 1:01:38
  They're a bit annoyed what's happening in Prospera, but but
• 1:01:43
  despite despite, say, the political tension, they decided
• 1:01:47
  that we still want to go ahead with this because we need to
• 1:01:50
  serve our customers. So basically, I'm I'm super
• 1:01:54
  happy as an entrepreneur to be able to set up my business in
• 1:01:58
  Prospera and do Bitcoin as unit of account.
• 1:02:01
  It doesn't mean that you make all your business in Prospera.
• 1:02:06
  So for example, for me, I'm going to have a business in
• 1:02:08
  Delaware. I'm going to have maybe one in
• 1:02:10
  Singapore to serve Asian customers, but for my Bitcoin
• 1:02:15
  portion of my business. So whenever I receive Bitcoin as
• 1:02:18
  payments, I'm going to do it through my Prosper entity.
• 1:02:21
  And I have multiple team members that want to receive salaries in
• 1:02:25
  Bitcoin, so I'm happy to serve them by paying them in Bitcoin
• 1:02:29
  through the Prosper entity. So yeah, that's pretty much the,
• 1:02:35
  yeah, the layout, what is unit of account, what, what does it
• 1:02:40
  mean to have Bitcoin as unit of account for an organization.
• 1:02:44
  And to be able to do that, I would like to add one last
• 1:02:47
  thing. And it's something that's going
• 1:02:50
  to take a while to happen. But at the moment, because the
• 1:02:54
  Fiat system, we have to understand what the Fiat system
• 1:02:59
  banking system really is. It's a set of distributed
• 1:03:04
  databases. So say in the US you have every
• 1:03:07
  bank is a database where they print new money every time they
• 1:03:11
  give a mortgage, they print new money every time they give
• 1:03:14
  credit, they print new money. And at the end of the day, say
• 1:03:18
  they consolidate their financials and then they send
• 1:03:21
  information to the central bank. And then the central bank kind
• 1:03:25
  of concocts all the different databases, all the different
• 1:03:29
  banks that have created new money across the country into
• 1:03:32
  one book. And then they know how much
• 1:03:34
  money was printed on that day. So basically the money is a set
• 1:03:39
  of distributed databases, Okay. So it's really manual.
• 1:03:43
  You have a lot of errors. There's a lot of problems with
• 1:03:45
  data integration. So it's a data data scientist
• 1:03:50
  nightmare. The the current monetary system.
• 1:03:53
  OK, so for accounting, this also means that there's a lot of
• 1:03:57
  there's a lot of say, reverses of payments.
• 1:04:02
  There's a there's a lot of errors that are being made by
• 1:04:05
  bankers and transactions. So there's a lot of elements
• 1:04:09
  that are manual in the current monetary system.
• 1:04:12
  Now what you therefore the accountants are dealing with all
• 1:04:17
  these things as well trying to collect this receipt and that
• 1:04:19
  receipt and so on. But in in Bitcoin what you could
• 1:04:23
  do because it is irreversible transactions and it is perfect
• 1:04:29
  monetary data globally distributed and simultaneously
• 1:04:35
  you could actually do a start create an accounting system
• 1:04:40
  that's fully automated. So but you need Bitcoin as unit
• 1:04:44
  of account for that and I believe that's where we're going
• 1:04:48
  in the end. We're not going to do accounting
• 1:04:50
  manually with with accountants. We're going to have automated
• 1:04:53
  accounting using AI and and we're going to we're going to
• 1:04:58
  have that only in the Bitcoin as unit of account jurisdictions.
• 1:05:03
  So that's more like a high flying idea of what's possible
• 1:05:07
  in the future with this. Love it.
• 1:05:10
  Love it. OK, Kind of shifting a little
• 1:05:13
  bit for the win, bro. Yeah, yeah.
• 1:05:15
  And that's that's where. Hold on, kind of shifting a
• 1:05:19
  little bit. You are a Bitcoin entrepreneur.
• 1:05:21
  Nico just brought it up and you were talking about like a theme
• 1:05:27
  in there was the Better Flag theory and and maybe elaborate
• 1:05:30
  on that and how this is playing out and what you're seeing
• 1:05:32
  happen. Yeah, so.
• 1:05:37
  Oh wait. And before we do that long, Sir,
• 1:05:39
  don't mean to cut you off. And then adding on that being a
• 1:05:41
  Bitcoin nomad like our friend Winikus and you are.
• 1:05:44
  Yes, yes, OK. So before before I go into the
• 1:05:49
  flight theory from a more personal perspective, I would
• 1:05:52
  like to just add something about Prospera.
• 1:05:56
  I think that it's it's really worth checking out the
• 1:06:01
  jurisdiction step by step. So as Americans it's really easy
• 1:06:06
  to go there. I don't work for Prosper.
• 1:06:08
  I would like to say that as well.
• 1:06:09
  I have nothing, no economic incentives or anything.
• 1:06:12
  The only thing, the only reason why I'm talking about this is
• 1:06:16
  because because I wanted to get this done.
• 1:06:18
  I also promised them that I will do a little bit of explanation
• 1:06:25
  and and say free marketing so that yeah they can get a few
• 1:06:29
  more Bitcoin entrepreneurs coming.
• 1:06:31
  So if if anyone is wondering more about this, thinking about
• 1:06:37
  starting their own organization or they already have a company
• 1:06:41
  and want to start a Bitcoin as unit of account sub company.
• 1:06:47
  I'm I'm available to to answer any questions.
• 1:06:51
  And also there's flights from Houston, Miami, Atlanta and I
• 1:06:57
  guess San Francisco or something directly to to Ratan.
• 1:07:01
  It's an island outside of Honduras so it doesn't really
• 1:07:07
  it's not the same as Honduras. Mainland mainland Honduras can
• 1:07:10
  be a bit dangerous. Ratan is really safe so you can
• 1:07:13
  actually go there and see for yourself without being afraid.
• 1:07:16
  They also speak English, strangely enough, because the
• 1:07:20
  country Honduras is Spanish speaking, but in Ratan it's
• 1:07:24
  English and Spanish speaking. So you can just come there as an
• 1:07:27
  American and speak English and feel comfortable.
• 1:07:30
  And when I was there in 22, I just had a blast.
• 1:07:36
  It was a really great experience.
• 1:07:38
  So I'd like to just add that in. You can just go as a tourist,
• 1:07:42
  check it out. You don't even have to go there
• 1:07:43
  though. You can just sign up online, you
• 1:07:45
  can create an account and you can just just get started and
• 1:07:50
  get a company going is tell them, hey, I want Bitcoin as
• 1:07:53
  your new account. So it's really simple.
• 1:07:57
  Yeah, I'd like to. I just wanted to add that, say,
• 1:07:59
  practical angle to that. Anyways, on the nomadic aspect,
• 1:08:04
  and yeah, the sovereign individual thesis playing out.
• 1:08:12
  So where should I start guys? I've been traveling for the past
• 1:08:16
  two years. I've been exploring a lot of
• 1:08:20
  different jurisdictions. I've been setting up companies
• 1:08:22
  in many different jurisdictions. Part of, or one of the main
• 1:08:27
  reasons for my travels for the past two years was really to
• 1:08:31
  explore different jurisdictions. I've been on the road for seven
• 1:08:36
  years, since 2017, and so I've been I've been traveling in
• 1:08:41
  Asia, I've been traveling in Europe and Americas, and I've
• 1:08:46
  been, yeah, trying to figure out where is a good place to set up
• 1:08:50
  a base. Especially accelerated now in
• 1:08:54
  recent years after they went crazy with after the COVID,
• 1:09:00
  COVID, pandemic, and now when they're really rattling the
• 1:09:03
  swords and thinking of what new wars they could start.
• 1:09:07
  Personally, I'm really thinking hard.
• 1:09:09
  Where is a good place to set up a base?
• 1:09:12
  And yeah, I have some observations of different
• 1:09:17
  places. I also have some favorite places
• 1:09:20
  I wanna check out. But guys, where should I start?
• 1:09:24
  Wherever you want to take it. I mean, you told us, you left
• 1:09:27
  you, you're Swedish, you left Sweden, and then you looked at
• 1:09:31
  everywhere else and what what is like, what are you comparing,
• 1:09:34
  what are you looking at? And maybe just add what?
• 1:09:37
  What should people be aware of moving forward?
• 1:09:40
  OK. So I think the first thing for
• 1:09:43
  anybody that is curious on on starting this kind of journey, I
• 1:09:50
  think you should. You should not overestimate how
• 1:09:53
  difficult it is. It really is not that difficult
• 1:09:57
  to start your journey and I would recommend just maybe
• 1:10:03
  getting on the road for 6 to 12 months first without the idea of
• 1:10:09
  living forever, just to taste how it's like.
• 1:10:14
  And you make sure that you go to a affordable place so you don't
• 1:10:18
  go to the most expensive places. You don't go to Monaco and
• 1:10:22
  London, you go to Colombia, Argentina, Vietnam, Bali.
• 1:10:29
  Places that are really cheap for for reference, for example, from
• 1:10:34
  Saigon where I'm now, I spend a lot of my time in Vietnam, from
• 1:10:38
  Saigon to Bali. It's a four hour flight.
• 1:10:41
  It cost me $75, OK, in the USI don't know what it costs, but I
• 1:10:45
  think it's much more expensive, including the taxi trips and
• 1:10:49
  everything. So just don't make your life so
• 1:10:52
  difficult or don't don't overthink it and try to do the
• 1:10:55
  first step easy. And then I think also a lot of
• 1:11:00
  people overestimate how hard it is to to make money remotely.
• 1:11:06
  So as an as a perfect English speaker, you can always serve
• 1:11:11
  English other English speakers in your nation.
• 1:11:15
  And there's always some, some tasks that you're good at.
• 1:11:19
  I mean you could do management consulting or if you're not
• 1:11:23
  experienced in management and things like that you could do
• 1:11:26
  just translation or you could do there's a lot of say simple
• 1:11:30
  tasks that you could do just so just to get by.
• 1:11:34
  Just for reference, my breakfast here in Vietnam, I can eat a
• 1:11:38
  great breakfast for $1.00. I add a coffee that's one more
• 1:11:42
  dollar. I have $2.00 expense for my
• 1:11:45
  morning routine so I could eat. As an American I'm I'm sure you
• 1:11:51
  could easily make back that money many times over in just
• 1:11:56
  one hour. So I think people over
• 1:12:00
  overestimate how hard it is to to do the first step and then
• 1:12:07
  the the second steps and the third steps.
• 1:12:10
  That's more like OK, where do I actually want to spend more time
• 1:12:15
  and how do I actually leave finally where I am.
• 1:12:18
  So those are two two different things.
• 1:12:22
  It can be really complicated legally to leave where you are,
• 1:12:26
  say tax wise and yeah, just administratively, but that I
• 1:12:32
  would lead to like last step. The second step is really to
• 1:12:36
  figure out where do you want to be, where do you want to spend
• 1:12:39
  your time. Some people love Argentina
• 1:12:41
  because it has great meat, but some people are vegetarian and
• 1:12:46
  don't like where they only eat steaks, right.
• 1:12:49
  So. And some people don't like the
• 1:12:51
  humid climate in Paraguay because it's just too hot and
• 1:12:54
  they want to have more Patagonia style mountains and a little bit
• 1:12:58
  colder during the year. So you need to figure out where
• 1:13:03
  where you want to be, what you like to, what you like
• 1:13:06
  personally and I could get into some specifics.
• 1:13:11
  I think generally now I what I'm looking at is I think weak
• 1:13:18
  states are pretty, I see that pretty favorably because as
• 1:13:24
  we're going into a time where the states are getting more and
• 1:13:29
  more oppressive and more and more controlling and want to
• 1:13:31
  extract more and more tax dollars, you want typically you
• 1:13:36
  probably want a state that is not that strong.
• 1:13:40
  So a state that can only exert limited control over its
• 1:13:44
  population. So I would that's one of my key
• 1:13:47
  criteria. And secondly, somewhere that is
• 1:13:52
  far enough away from the center of chaos.
• 1:13:56
  So I don't really like Europe. Maybe parts of Eastern Europe
• 1:14:02
  are OK, but they're really stuck in the middle of, you know,
• 1:14:06
  between Middle East chaos and Ukraine chaos and the Western
• 1:14:10
  European megalomania. It's Eastern Europe is really
• 1:14:16
  stuck between all all those, all that craziness.
• 1:14:18
  So I wouldn't really for that reason, I don't really like
• 1:14:24
  that. And also the US there are
• 1:14:28
  beautiful, amazing places far away from the power centers and
• 1:14:32
  you have to determine for yourself if if if that's far
• 1:14:36
  away enough. But from my perspective, I'd
• 1:14:39
  like to be further away. So for example, I'm looking at
• 1:14:43
  Argentina now. Millay came to power, He lowered
• 1:14:47
  the costs of the government by 33% last month.
• 1:14:51
  So that's very promising. It seems like this libertarian
• 1:14:55
  president can get a lot of stuff done in the next few years.
• 1:14:58
  Argentina is a huge place. I like to snowboard.
• 1:15:00
  That's a personal preference. So that's the next place that
• 1:15:05
  I'm curious on exploring. What I really like though about
• 1:15:10
  Asia or East Asia is security. And I think that's a really
• 1:15:14
  important thing. The violent level of violent
• 1:15:18
  crime in East Asia is very low. So if you are not in the highest
• 1:15:23
  level of politics or business, you are very unlikely to be
• 1:15:28
  targeted with violent crime as opposed to Latin America or
• 1:15:32
  North America where it's much more common with random violent
• 1:15:37
  crime. So I just love that.
• 1:15:39
  About East Asia, it's like completely safe.
• 1:15:42
  So that's that's a huge benefit. And now I've been ranting for a
• 1:15:47
  little bit. So you guys please jump in.
• 1:15:49
  Do you have any follow on questions on that?
• 1:15:51
  Yeah, I mean, dude, so you're essentially living the the
• 1:15:57
  hypothesis or the theory from the sovereign individual, right?
• 1:16:00
  You are looking at different jurisdictions and you're
• 1:16:05
  literally choosing what is a more favorable location for you.
• 1:16:10
  And a lot of people are like OK, but Nico, you could have always
• 1:16:13
  done this. That's not true before the
• 1:16:16
  Internet, before Bitcoin. Good luck taking your wealth
• 1:16:20
  with you. Good luck working remotely like
• 1:16:23
  that's one of the career opportunities is the fact that
• 1:16:25
  you can live everywhere. Like technically, like, I, I, I
• 1:16:29
  live in Miami. I don't know for how much, how
• 1:16:31
  much longer, but but I could technically do this show
• 1:16:38
  anywhere. Like it's facilitated by the
• 1:16:41
  Internet, right? There's not like a like a a
• 1:16:44
  geographical location I have to be at, right?
• 1:16:48
  And the world's gonna go through this kind of realization.
• 1:16:52
  And I think over the long term, I think what's gonna happen is
• 1:16:55
  like the geographical, like type of the geographical advantages
• 1:17:03
  that governments had. Like for example, like if you
• 1:17:05
  live in a certain, you know, a certain city, the reason that
• 1:17:09
  they were able to get away with those taxes or those policies is
• 1:17:13
  because you were forced to live in that city because of the job.
• 1:17:16
  But now because of the Internet, you don't.
• 1:17:19
  You no longer have to work in that city.
• 1:17:21
  And then all of a sudden you're like, OK, I'm out peace, but you
• 1:17:26
  could take your job with you because of the Internet, right.
• 1:17:29
  And I think the world is going to wake up to this reality.
• 1:17:31
  And I think over a long period of time, I don't think it's
• 1:17:34
  going to be an overnight thing. I think governments are going to
• 1:17:36
  have to essentially the relationship between the
• 1:17:39
  individual and the government is going to change, right.
• 1:17:42
  Instead of like this extortion type of relationship that I
• 1:17:46
  think exists now, it becomes a more business like relationship
• 1:17:50
  where governments are, you're going to pick and choose what
• 1:17:53
  jurisdiction you want to live on, want to live based on the
• 1:17:57
  services they provide and at what cost are those services.
• 1:18:01
  Right. But this idea that, you know,
• 1:18:03
  and specifically in the US, it's crazy, right?
• 1:18:06
  No matter where you are on planet Earth, you have to pay
• 1:18:10
  federal income tax. That like, that is insane,
• 1:18:13
  right. So yeah, I mean, I love this new
• 1:18:16
  world that we're heading into. I think people really have to
• 1:18:20
  expand their minds. You know, there's other places
• 1:18:23
  other than Europe and the United States to live in.
• 1:18:26
  I I, I've lived, I've lived a couple years in Latin America.
• 1:18:29
  I've lived in Dominican Republic, I've lived in in
• 1:18:32
  Colombia. I've, I've spent some time in
• 1:18:34
  Venezuela. So, you know, I've, I've lived
• 1:18:36
  in Europe actually a little bit. So like you know, you, you, you,
• 1:18:41
  you get exposed to these types of jurisdictions and you know
• 1:18:44
  our, our CEO Winakis is a world traveler sponsored by simply
• 1:18:48
  Bitcoin. And you know he's on that tip.
• 1:18:53
  And I I think people underestimate how much cheaper
• 1:18:57
  things could be in different countries, right.
• 1:19:01
  Like you know, the, the, the cost of living in, you know,
• 1:19:04
  some American cities is absurd. You can get it for like 1/10 of
• 1:19:07
  1/10 of 1/10 of a cost in the other city.
• 1:19:10
  And not to mention the food quality.
• 1:19:12
  I don't know. And and and Lucas, you'll
• 1:19:13
  probably laugh when when you hear this.
• 1:19:16
  As soon as I leave the US, even if the amount of food that I eat
• 1:19:21
  stays the same, I lose like 1520 lbs.
• 1:19:23
  I don't know why. I don't know.
• 1:19:25
  It's because if there's like some chemicals in the food here,
• 1:19:28
  it's like overly processed. But there's something about, you
• 1:19:32
  know, it's food just better overseas in my opinion.
• 1:19:36
  Anyways, Opti, what's your take? And then we'll wrap up the show.
• 1:19:39
  Yeah, well, you know, I, I'm not going to say it, but I was just
• 1:19:42
  going to go full Alex Jones on you here with the they're making
• 1:19:45
  the no, I'm not. Anyways, Lucas, love to hear it.
• 1:19:50
  Let's let's plug your project, your podcast, and actually, if
• 1:19:54
  you want to touch on some of the other news stories that you
• 1:19:57
  think have been going under the radar, we'll wrap today's show
• 1:20:00
  up with that. OK, Yeah, so actually the the
• 1:20:05
  the podcast is on pause now. It's called Globe Bitcoin Fest.
• 1:20:10
  We were doing it for the past three years.
• 1:20:13
  It's a show where we've been interviewing Bitcoin maximalists
• 1:20:19
  across different countries around the world.
• 1:20:22
  So we've done now over 50 different countries.
• 1:20:26
  So we gather a group of bitcoiners and then we interview
• 1:20:32
  them, let them share their stories from the country and the
• 1:20:36
  show. We've covered almost 500 Bitcoin
• 1:20:40
  maxes now and and we're actually doing an offshoot tomorrow with
• 1:20:47
  the Dubai Bitcoin community because there's a Bitcoin
• 1:20:50
  conference happening there from the 8th to 10th of February.
• 1:20:53
  So they asked me to to join in and and talk about Dubai and
• 1:21:00
  what's happening there, which is really interesting by the way
• 1:21:04
  it's it's booming like crazy. No other place in the world I
• 1:21:09
  it's booming at the moment except the SADR or maybe and the
• 1:21:13
  UAE is just going absolutely nuts.
• 1:21:16
  So doing this show, one one of the things, one of the big
• 1:21:23
  benefits from this show has been that I've been meeting the
• 1:21:26
  bitcoiners from the show in person when I've been traveling.
• 1:21:30
  And another benefit has been that I've been getting the news
• 1:21:37
  on the show but also the whispers so people share some
• 1:21:40
  secrets, things that are gonna be launched soon or happening
• 1:21:44
  soon. So I told you guys before the
• 1:21:49
  show, a few of those, so I'll share them now.
• 1:21:51
  So one thing that was on our Trinidad and Tobago show was
• 1:21:57
  that there is AUN funded startup in Trinidad and Tobago that is
• 1:22:06
  building Lightning Network technology to use that for
• 1:22:13
  transfers between the different nations in the Caribbean because
• 1:22:18
  they're having a lot of banking problems due to their history
• 1:22:20
  and so on. So they're looking at
• 1:22:23
  facilitating intra country trade between the Caribbean nations
• 1:22:28
  using lightning technology and that's the UN funded project.
• 1:22:33
  And yeah, nobody's heard about that.
• 1:22:35
  And another another project that we were talking about, we talked
• 1:22:40
  to these people really early in 2021 when we did our first show,
• 1:22:46
  7th of September, we they came on and talked about trying to
• 1:22:52
  get the government of Ethiopia to mine Bitcoin with their mega
• 1:22:57
  dam. They they built a mega dam in
• 1:22:59
  South Ethiopia and then it's at the start of the Nile River.
• 1:23:05
  So the Nile River is huge. It runs through several
• 1:23:08
  countries before it runs all the way to the Mediterranean Sea,
• 1:23:13
  and Ethiopia has built this gigantic dam.
• 1:23:18
  I think it's 9 gigawatts or something.
• 1:23:20
  And they don't, they can't really use all that energy
• 1:23:24
  because of neighboring conflicts and the energy grid is not good
• 1:23:28
  enough. So they've been working for
• 1:23:30
  three years and getting the government to decide to mine
• 1:23:34
  Bitcoin with the dam once it goes online.
• 1:23:39
  And just just a month ago or so and it was announced that the
• 1:23:45
  Ethiopian government has already started, I think to mine Bitcoin
• 1:23:49
  with their mega dam. And so yeah, that's another
• 1:23:56
  thing I think that most people don't know about.
• 1:23:59
  And another another thing somebody mentioned in the chat,
• 1:24:03
  Bhutan, that is beautiful. Bhutan also has 100% hydropower
• 1:24:09
  and they've been they were discovered in the the what was
• 1:24:15
  the collapse, the D5 platform bullshit platform.
• 1:24:20
  Anyways, I think they they had a lot of investments in one of
• 1:24:23
  these bankruptcy states in the US that went bankrupt, the
• 1:24:29
  crypto bankruptcy state and. I think it was Celsius, right?
• 1:24:33
  Celsius exactly. Thank you for the help.
• 1:24:35
  So so Bhutan has been buying crypto for a while, but less
• 1:24:42
  known is that they've been mining Bitcoin with their
• 1:24:45
  hydropower infrastructure and they recently set up a company
• 1:24:51
  in Singapore and they've been out looking for investors to
• 1:24:57
  invest in an expanded mining capacity in Bhutan.
• 1:25:02
  So it seems like there is a trend of more and more country,
• 1:25:10
  state electricity production companies that are starting to
• 1:25:15
  mine Bitcoin. So that's something that we've
• 1:25:18
  heard from various various Bitcoin maxies that we've had on
• 1:25:24
  the show. One thing that's not public, and
• 1:25:26
  I can't say which country it is, but a friend from the show met
• 1:25:33
  the management team of A of the largest or one of the largest
• 1:25:39
  power companies in one of the Latin American company countries
• 1:25:45
  and they're actually going to sunset one of their hydropower
• 1:25:49
  plants to only mine Bitcoin. And this is not public news.
• 1:25:54
  It's not going to be public news for I think a few years, but
• 1:25:57
  this is stuff that's happening. If you put your ear to the
• 1:26:01
  ground, you'll find some really juicy stories.
• 1:26:06
  Dude. And we covered.
• 1:26:07
  I remember Bhutan that news and it was not gonna be discovered
• 1:26:11
  unless it was unless because of the reveal of the bankruptcy,
• 1:26:16
  the bankruptcy aspect of it. So they were just, they didn't
• 1:26:20
  wanna avoid the media and they would just, they didn't wanna
• 1:26:23
  deal with any of that and they're reminding Bitcoin in the
• 1:26:25
  background man, and now you're saying another country as well.
• 1:26:29
  Holy cow. I think this is just the
• 1:26:32
  beginning. This is extremely exciting stuff
• 1:26:35
  and I think you're going to see this worldwide because what else
• 1:26:37
  are you going to do with that stranded energy, that excess
• 1:26:40
  energy like it like Bitcoin gives you the ability to
• 1:26:43
  monetize it. It gives it gives stranded
• 1:26:46
  energy, otherwise wasted energy value and I think that's really
• 1:26:49
  the signal there. Anyways, Lucas, it's been an
• 1:26:52
  honor to have you on the show Bitcoin Entrepreneur building
• 1:26:56
  the Future. We really appreciate your time
• 1:26:59
  and the stories. It's been quite entertaining to
• 1:27:01
  say the least. You guys could follow Lucas at
• 1:27:05
  DUCZKO on Twitter and go check out his website,
• 1:27:11
  globalbitcoinfest.com. Lucas, thank you so much for
• 1:27:14
  joining us. Thank you so much guys.
• 1:27:17
  Appreciate it guys. That was our show.
• 1:27:19
  If you enjoyed the show, you know what to do.
• 1:27:20
  Smash that like button. Consider subscribing if you feel
• 1:27:23
  like we provided you value. But the number one thing you
• 1:27:25
  could do to help push the peaceful Bitcoin revolution is
• 1:27:28
  share Bitcoin content. Share Bitcoin content.
• 1:27:30
  Share Bitcoin music. Share.
• 1:27:33
  You know, share Bitcoin. Companies share everything.
• 1:27:35
  We have to win over the culture. The great Andrew Breitbart once
• 1:27:39
  said that politics is downstream from from culture.
• 1:27:42
  If you win over the culture, you win over.
• 1:27:44
  Just win, right? We got to win over the culture.
• 1:27:46
  We got to win over the hearts and minds.
• 1:27:48
  And the way you do that is education, education, education.
• 1:27:51
  Anyways, guys, Love you all. We'll be back tomorrow, the
• 1:27:54
  Thursday show for another episode of Simply Bitcoin Live.
• 1:27:58
  Peace out, everybody.